Knolls Archive of Day 24th of October 2024
Reserve Bank cannot risk another bout of inflation, says Governor Das
News: The Monetary Policy Committee’s meeting held from October 7-9 has decided to keep the repo rate unchanged at 6.5 percent for 20 consecutive months. 1. Monetary Policy Committee is a statutory body under the RBI Act, 1934. It is responsible for fixing benchmark interest rates in India and maintains price stability while keeping in… Continue reading Reserve Bank cannot risk another bout of inflation, says Governor Das
Cyber fraud losses could amount to 0.7% of GDP, projects Ministry’s study
News: A projection made by the Indian Cyber Crime Coordination Centre (I4C) shows that Indians are likely to lose over Rs 1.2 lakh crore over the next year to cyber frauds. 1. The I4C study shows that mule bank accounts are one of the significant contributors to the online financial scams. 2. Mule bank accounts… Continue reading Cyber fraud losses could amount to 0.7% of GDP, projects Ministry’s study
McDonald’s linked outbreak in United States: What is E. coli?
News: E. coli infection, after eating McDonald’s burgers, has led to death of one person and hospitalisation of ten people in the US. 1. Escherichia coli (E. coli) is a bacterium that is commonly found in the gut of humans and warm-blooded animals. 2. Most E. coli strains are harmless, but some can cause serious… Continue reading McDonald’s linked outbreak in United States: What is E. coli?
Taxing industrial alcohol
News: A Constitution Bench of 9 judges has upheld that states have power to tax not just alcoholic beverages, but also ‘industrial’ alcohol. 1. The dispute between the Centre and the State over taxation power arose due to overlapping entries in the seventh schedule of the constitution. 2. Seventh schedule of the constitution deals with… Continue reading Taxing industrial alcohol
