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Current Affairs [PDF] - March 16-31, 2020

China
Between March 1 and March 18, 2020, China has approved more coal power (6.6 GW). In 2019, China had
approved 6.3 GW of coal-based production. The number of coal based power plants entering into operation
has increased in China since 2018 according to the survey. On the other hand, the global coal fleet is
shrinking.
RBI: Cuts repo rate to 4.4%; CRR to 3%; 3-month moratorium allowed on all loans
On March 27, 2020, the Reserve Bank of India announced series of measures to counter economic
slowdown caused due to COVID-19. The Central bank advanced its Monetary Policy Committee meet due to
COVID-19 pandemic. This was the 7th Bi-Monthly Monetary Policy Statement of the RBI for the financial
year 2019-20.
The RBI measures introduced is to inject Rs 3.74 lakh core into the Indian Economy according to the RBI
Governor.
Highlights
While India has locked down its economic activity, the main objective of RBI is to keep finance flowing.
The repo rate was cut by 75 basis points (bps) to 4.4%, reverse repo rate was cut by 90 bps to 4%. RBI rules
banks and other institutions to provide a three-month moratorium on all loans.
Other Key Decisions
The Cash Reserve Ratio was cut by 100 bps to 3% of NTDL (Net Time and Demand Liabilities). The Cash
Reserve Ratio is the minimum fraction of the customer deposit that a bank can hold.
The investments are to be classified as Held To Maturity. RBI is to introduce Net Stable Funding Ratio
between April and October, 2020. It is the ratio between amount of stable funding available to the amount
of stable funding required.
HydroxyChloroquine now made a H1 Drug in India; Exports banned
On March 27, 2020, the Ministry of Health and Family Welfare declared the Hydroxycholoroquine as a
Schedule H1 drug. With this GOI has brough upon restrictions on sales and distribution of the drug.
Highlights
The Hydroxychloroquine drug was declared as an essential drug to treat COVID-19 patients. Out of the 4
treatments suggested by the World Health Organization to contain the virus, India adopted the use of
Hydroxychloroquine. And hence, exports of the drugs were banned in the country. Currently the drug is
being prescribed for symptomatic patients and also for asymptomatic patients that are in contact with the
Corona infected patients.
What is Schedule H1?
The drugs listed under Schedule H1 are required to be sold under following conditions
The supply if H1 drugs are to be registered in a separate register. The register should hold the name
and address of the prescriber and the patient. It should also hold quantity supplied. And these details
are to be held by the supplier for a minimum of three years.
The drug listed under Schedule H1 should be labelled as “Rx” in red colour. The label should also
carry precautionary warnings
US launches Extremely High Frequency Satellite for military communication
On March 26, 2020, the United Nations Space Force launched a hyper-secure satellite for its military
communications. With the launch of the satellite the United States has begun its first National Security
Mission.
The satellite launching has come at a stage where the number of COVID-19 infected persons has overtaken
Italy and China.

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