RBI to Increase Liquidity Through Open Market Operations
The Reserve Bank of India will inject 10,000 crore rupees into the system to increase liquidity through open market operations (OMOs). The offers are to be submitted in electronic format on the RBI Core Banking Solution (E-Kuber) system.
Centre Allots Rs. 6,084 crore to National Rural Employment Guarantee Scheme
Rs.6,084 crore have been allotted by the Centre to the National Rural Employment Guarantee (NREGA/MGNREGA) scheme for the next three months. NREGA has exhausted 99% of its annual allocation three months ahead of time.
India to Grow Crops for UAE and Saudi Arabia
Union Commerce Minister Suresh Prabhu has announced that the UAE and Saudi Arabia have decided to address their food security concerns with India's help. For the first time, agriculture along with horticulture, dairy, plantation, and fisheries will be identified under India’s export policy. The crops will be grown keeping in mind both markets. The concept has been accepted by both governments.
MoU Between Adani Group and German Company
The largest chemical producer in the world BASF SE (BASF) is a German chemical company. It has signed a Memorandum of Understanding (MoU) with the Adani Group to invest Rs. 16,000 crore in the acrylics value chain. This deal is BASF’s largest investment in India to date.