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- The Reserve Bank of India (RBI) in its recent monetary policy review for year 2016-17 has maintained status quo in key policy interest rate. It was the last monetary policy review of RBI Governor Raghuram Rajan who will step down in September 2016 after completing his term. The repo rate has remained unchanged at 6.50% while the reverse repo rate has been at 6%. The Cash Reserve Ratio has also remained unchanged at 4%.
- The Securities and Exchange Board of India (SEBI) has announced that Ponzi schemes do not fall under its regulatory purview. This announcement was made after the apex court had asked the SEBI about measures undertaken by them to check the menace of ponzi schemes. A Ponzi scheme is an investment fraud where clients are promised a large profit in short term at little or no risk at all.
- The Rajya Sabha has passed the Mental Health Care Bill to provide better healthcare for people suffering from mental illness and also to decriminalise suicide. The Bill provides that every person has the right to access mental health care and treatment from services run or funded by the government.
- Prime Minister Modi has released a theme song for the ‘Tiranga Yatra’ to be organised to mark 70 years of Independence Day. The theme song 70 Saal Azadi Yaad Karo Kurbani has been composed by Dr. Ghazal Srinivas. Tiranga Yatra will be organised from 16 to 23 August 2016 across the country to mark 70 years of Independence.
- The International Day of the World’s Indigenous Peoples is observed every year on 9 August to promote and protect the rights of the world’s indigenous population. The theme for this year was ‘Indigenous People’s Right to Education‘.
- The International Union for Conservation of Nature and Natural Resources (IUCN) has conferred the Luc Hoffman award on Dr. Dhrubajyoti Ghosh. Dr. Ghosh becomes the first Indian environmentalist to receive this award.
- American swimmer Katie Ledecky has set a new world record to fetch gold in the women’s 400 metres freestyle at the Rio Olympics. Ledecky clocked 3 minutes 56.46 seconds to beat Britain’s Jazmin Carlin who clocked 4 minutes 01.23 seconds at the Olympic Aquatics Stadium, Rio de Janeiro.
- Australia’s Nick Kyrgios beat John Isner in the Atlanta Open final to win his second ATP Tour crown.