1. As of April 2020, what is the latest repo rate by RBI?
• The repo rate was reduced to by 75 bps 4.4% while the reverse repo rate was cut by 90 bps point to 4%. The higher reduction in the reverse repo rate was aimed at prompting banks to lend more rather than keeping their excess liquidity with the RBI.
• Repo rate is the rate at which the central bank of a country (RBI in case of India) lends money to commercial banks in the event of any shortfall of funds.
• Repo rate is used by monetary authorities to control inflation
2. By how many months have RBI allowed the banks to defer the payments of EMIs by the customers?
a. Two months
b. Three months
c. Four months
d. Six months
• RBI has also allowed banks to defer payment of EMIs on home, car, personal loans as well as credit card dues for three months till May 31.
• Since non-payment will not lead to non-performing asset classification by banks, there will be no impact on credit score of the borrowers.
3. According to the Moody’s Investor Services, what is the GDP growth rate of China for 2020?
• According to the Moody’s Investor Services, China is projected to grow at 3.3% in the current calendar year i.e. 2020.
• Also, China's growth rate will be higher than that of India in 2021.
• China's growth is projected to grow 6% next year, while India at 5.8%.
4. What is the last date for filing of income tax return for the financial year 2018-19?
a. 30 June
b. 31 July
c. 31 August
d. 30 May
• Income tax returns for the financial year 2018-19 can now be filed until June 30, with the interest rate on delayed payments reduced to 9% from 12%.
5. What was the theme of the World Happiness Day 2020?
a. Happiness For All, For Ever
b. Happiness Forever
c. Spread Joy and Happiness
d. Let’s live together happily
• Since 2013, the United Nations has celebrated the International Day of Happiness on 20th March as a way to recognise the importance of happiness in the lives of people around the world. In 2015, the UN launched the 17 Sustainable Development Goals, which seek to end poverty, reduce inequality, and protect our planet – three key aspects that lead to well-being and happiness.
• The theme of the International Day of Happiness 2020 is “Happier Together". It focuses on what we have in common, rather than what divides us.