# RBI’s monetary policy

• The reserve bank of India on friday left benchmark interest rates unchanged.

• RBI reiterated that it would retain its accomodative stance for “as long as necessary to revive and sustain growth on durable basis”.

• RBI also cut the GDP growth forecast for the fiscal year by 100 basis points to 9.5%.

• The RBI’s monetary policy committee voted unanimously to keep the policy repo rate unchanged at 4%.

# Delta variant coronavirus

• Variant delta (B.1.617.2) is the most pervasive variant of the coronavirus in India.

• It has constituted nearly three in four breakthrough infections in Delhi.

• Breakthrough infections are instances of people testing positive for the virus after getting vaccinated.

• This delta variant is characterised by high transmissibility and accelerated surge.

# Defence acquisition council

• The DAC headed by defence minister Rajnath singh, on friday approved the issurance of a request for proposal (RFP) for the construction of six conventional submarine.

• These submarines will be built under project-75i at an estimated cost of 43,000 crore rupees.

• The DAC shortlisted Mazagon docks limited(MDL) and Larsen & Toubro (L&T) as the Indian partners for the deal.

# CBSE Panel

• The CBSE has set up a 12 member committee to decide on assessing class 12 students in the wake of cancellation of the board examination.

• The panel will submit a report within 10 days.

• The CBSE is considering several proposals for alternative assessment, including using internal assessment and practical exam marks.

# US unemployment rate

• US employers boosted hiring in may as the easing pandemic, helped by vaccinations, pulled more people back into the labor force.

• The unemployment rate fell to 5.8% from 6.1% in April.