MAHAVEER JAYANTI
News – Mahavir Jayanti 2025: When is Mahavir Jayanti? Know correct date, trayodashi tithi, history
- Celebrates the – birth of Lord Vardhamaan Mahavir, the 24th and last Tirthankara of Jainism
- Observed on – the 13th day of the bright half of Chaitra
- Birth – 599 BCE in Vaishali, Bihar
- Achieved – Kaivalya (True Knowledge) at 40 yrs of age
- Teachings of Lord Mahavir-
- Ahimsa – Avoid harm to all living beings.
- Satya – Always speak the truth.
- Asteya – Do not take what is not yours.
- Aparigraha – Renounce materialistic desires.
- Brahmacharya – Practice self-control.
REPO RATES
News – RBI cuts repo rate by 0.25%, trims GDP growth forecast
- About – The repo rate is the interest rate at which the RBI lends money to commercial banks for short-term
- Current repo Rate – 6%
- Reverse Repo Rate: This is the rate at which the RBI borrows money from banks.
- It is typically lower than the repo rate.
- Current reverse repo rate is – 3.35%
- Borrowing is made against – Collateral or Security
- RBI decides Repo Rate – every 3 months
MONETARY POLICY COMMITTEE
- Constituted under – RBI Act, 1934
- Objective – To fix the Repo Rate to achieve the inflation target set by the government
- Current Inflation Target – 4% ± 2%
- Composition- 6 members
- RBI Governor (Chairperson).
- RBI Deputy Governor
- One RBI nominated official
- 3 external members by the Government of India
- Meetings-
- MPC meets at least 4 times a year
- Significance – Balances the dual objectives of price stability and economic growth
MONETARY POLICY STANCES
WAQF (amd) ACT, 2025
News – 22 held in Bengal’s Murshidabad over Waqf Act violence
- Purpose – To enhance transparency and accountability, in the management of Waqf properties.
- Major Changes made by bill–
- Non-Muslim Representation: in the Waqf Boards
- Mandates Digital Registration: of Waqf properties
- Collector’s Role: to oversee Waqf land surveys and disputes
- Limitation Act: Allows adverse possession claims after 12 years of unlawful occupancy
- Controversies:
- Critics argue it targets Muslim-managed properties
- Concerns over legitimizing encroachments
DOMINICAN REPUBLIC
News – Casualties from Dominican Republic nightclub roof collapse climb to 124
- Located in – the Caribbean sea
- Capital – Santo Domingo
- It is second – largest island in the Caribbean
- Flag – it is the only country with a Bible depicted on its national flag
- Political System – Representative Democracy
- Currency – Dominican Peso
- Language – Spanish
- The country produces more Major League Baseball players
- It is called – Gateway to the Latin American and Caribbean markets
FURLOUGH vs PAROLE
News – Dera Sacha Sauda chief released on 21-day furlough
MCQs
1. “Mahavir Jayanti” is celebrated on birth of?
A. Rishabnath
B. Shanaracharya
C. Vardhamaan Mahavir
D. Lord Hanumaan
2. Monetary Policy Committee is constituted under?
A. Constitution of India
B. RBI Act
C. Banking Regulation Act
D. Companies Act
3. Monetary Policy Committee has how many members?
A. 3 members
B. 6 members
C. 10 members
D. 20 members
4. Capital of Dominican Republic is?
A. Santo Domingo
B. Havana
C. Ottawa
D. Istanbul
5. Vardhamaan Mahavir was born in?
A. Tamil Nadu
B. Bihar
C. Jammu and Kashmir
D. Karachi