5 aug 2020. Current affairs.

Economics.

1. CAG wants to look into recap of public sector banks by Finance ministry.

Article 148-151of constitution = constitututional body.

Comptroller and auditor general of india

Recapitalization- after rising NPAs

Goi. Psu

A huge amount has been given to banks after 2017-18.

Recapitalization improves banks asssets on their balance sheets.

Is not kept under fiscal deflicit. Done through recap bond.
Banks buy recap bonds from government of india for fix time, over that
govt of india pays an interest to bank and after time limit cease whole
amount of money is returned to banks which ensures there investment in
a safe entity hence improving their asset in balance sheet.
 Till now RBI used to do audit for banks, but now it is considered as
government money CAG wants to audit it.

2. CERC gives nod for third power exchange

Electricity act,2003
Central electricity regulatory commission (cerc), statutory body

Buyer. Market. Seller.

Buyer. Seller.

Market based economic dispatch.

Other power exchange of india- iex and pxil.

3rd: pranurja.

CERC Mandate- under control of central government. Electricity prices

Renewable energy certificates (REC)- energy produced by renewable means

3. 2,500 tonnes of saurashtra onions set to chug all the way to Bangladesh.

Gujrat ( dhoraji) to Bangladesh ( dharsana) by railways for the first time.

4. ASEAN - India free trade pacts review can double trade between
The two,says puri.

Indo-ASEAN oceanic region( IAOR) - 19 members.

5. Trump bars H-1B visa holders from federal jobs.

6. 2,750 tonnes of ammonium nitrate exploded: lebanon PM on beriut blasts.

7. 24 million may drop out of school due to pandemic:UN.

8. Army to convene selection board for women personnel.

9. RaTG13 sarbecovirus

Bats have been the primary reservoirs for SARS-CoV-2.

 Art and culture

10. Theatre doyen Ebrahim alkazi passes away.

Longest serving director of national school of drama,

Father of mordern Indian theatre.