05 April 2016 Current Affairs

PM Narendra Modi Launched ‘Stand Up India’ Scheme

Prime Minister Narendra Modi on 5 April launched the ‘Stand up India’ scheme as part of the goverment’s efforts to support entrepreneurship among women and SC & ST communities. Prime Minister also inaugurated a Kaushal Kendra (Skilling Center) under Pradhan Mantri Mudra Yojna in Noida. The Scheme is intended to facilitate at least two projects per bank branch, on an average one for each category of entrepreneur. It is expected to benefit at least 2.5 lakh borrowers within 36 months. It provides for refinance window through Small Industries Development Bank of India (SIDBI) with an initial amount of 10000 crore rupees. It will create credit guarantee mechanism through the National Credit Guarantee Trustee Company (NCGTC).

Suresh Prabhu Flags Off India’s Fastest Train Gatiman Express

Union Railway Minister Suresh Prabhu on 5 April flagged off the Gatiman Express which is the India’s first Semi-High Speed Train (SHST) with a capabilty of running at a maximum speed of 160 KMPH and runs between H. Nizammuddin to Agra, at the Hazrat Nizammuddin Railway Station in New Delhi. The train completed its maiden journey from Delhi to Agra in 100 minutes as compared to about 2-3 hours that other trains take to cover the distance.The Gatimaan Express, which is indigenously built, will run six days a week, except Friday, in both directions. The train runs at a speed of 160 km per hour, covering the 184 kilometre distance between Delhi and Agra in 105-110 minutes. In October 2014, the India Railways applied for safety certificate from Commission of Railway Safety to start the service. In June 2015, the train was announced officially and numbered 12049/50. Besides, the Gatimaan Express provides free Wi-fi to its passengers. Also, the train will have stewards and hostesses on the lines of flight attendants.

RBI cuts Repo Rate by 25 Basis Points To 6.5%

The Reserve Bank of India (RBI) has cut down repo rate by 25 basis points to 6.5 per cent from 6.75 per cent, with immediate effect. It was announced in the first bi-monthly monetary policy review of the RBI for the 2016-17 fiscal. First bi-monthly monetary policy for the 2016-17 says Repo rate: RBI has reduced the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points from 6.75 per cent to 6.5 per cent. It is the rate at which RBI lends to the financial system. Cash reserve ratio (CRR): RBI has unchanged CRR and kept it at 4.0 per cent of net demand and time liabilities (NDTL). Reverse repo rate: RBI has adjusted (hiked) reverse repo rate under the LAF to 6 per cent.

Researchers Create World’s Smallest Diode

A single-molecule diode, the world’s smallest, has been created by a team of researchers from Ben-Gurion University of the Negev (BGU) and the University of Georgia. The breakthrough could impact the development of molecular electronic devices. The nanoscale diode or molecular rectifier operates like a valve to facilitate electronic current flow in one direction. A collection of these nanoscale diodes, or molecules, contains properties that resemble traditional electronic components, such as a wire, transistor or rectifier.

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