Daily Headlines 28th March 2020

CRISIL has cut India’s base-case Gross Domestic Product (GDP) growth forecast for fiscal 2021 to – 3.5% (from 5.2%).
The RBI allowed banks to put on hold EMI payments on all term loans for – three months.
The benchmark repurchase or repo rate was slashed by 75 basis points to – 4.40%.
The Cash Reserve Ratio (CRR) was slashed by 100 basis points to – 3%.
Amount that will be infused into the financial system by Reserve Bank of India to deal with the COVID-19 pandemic – about Rs 3.74 lakh crore.
Moody’s Investors Service slashed its estimate of India’s GDP growth during 2020 calendar year to – 2.5% (from 5.3%).
Responsive to the need of the hour to fight Corona Virus from all fronts, Small Industries Development Bank of India (SIDBI) has launched – SAFE (SIDBI Assistance to Facilitate Emergency response against Corona Virus) scheme.

This financial institution has launched a ____Policy tracker to monitor the steps various governments have taken to fight the COVID-19 pandemic – International Monetary Fund.

This industries association has set up a fund to assist rehabilitation of micro, small and medium enterprises – Confederation of Indian Industries.

This Indian company will manufacture in-house ‘ambu bag’ ventilators for less than Rs 7,500 – Mahindra & Mahindra (M&M).
The Indian institute has developed an “infection-proof fabric” to be used at hospitals to prevent hospital-acquired infections (HAIs) – Indian Institute of Technology (IIT) Delhi.
The Lockheed Martin Advanced Extremely High Frequency (AEHF) satellite was launched by – United States Space Force.

Small Industries Development Bank of India (SIDBI) – Founded: 02 April 1990; Headquarters: Lucknow, UP.
Reserve Bank of India (RBI) – Founded: 01 April 1935; Headquarters: Mumbai.
Confederation of Indian Industries (CII) – Founded: 1895; Headquarters: New Delhi.
Gujarat – Founded: 01 May 1960; Capital: Gandhinagar.
Odisha – Founded: 01 April 1936; Capital: Bhubaneswar.