Central Government to get Rs. 1.76 lakh crore from RBI

  • The central bank of India has decided to transfer Rs 1,76,051 crore dividend and surplus reserves to the central government.
  • A panel led by Bimal Jalan, which was formed to examine the economic capital framework to decide on matters related to the RBI’s surplus reserves, had recommended the measure.
  • Economic capital framework governs the terms of transfer of the RBI’s surplus reserves to the government
  • Former RBI governor, Urjit Patel, had quit in December amid reports of a rift before the Jalan panel was formed.

Modi reaffirms Kashmir as a bilateral matter at G7

  • Prime Minister Modi in presence of USA President Trump rejected any possibility of a third party mediating in the Kashmir dispute as it was a bilateral matter for India and Pakistan.
  • Both leaders met on the sidelines of G7 summit at Biarritz in France.
  • Last week President Trump had reiterated his offer to mediate in the Kashmir dispute. He said the crisis is a big deal and it was an “explosive situation”.

P Chidambaram sent to four more days of CBI custody

  • The four-day custody granted by Delhi court last week had expired and CBI had sought five more days of custody.
  • The CBI argued that there were sufficient grounds to extend the period of custody for interrogation.
  • The CBI had arrest the former finance minister on August 21 from his home in Delhi related to INX Media case.