Current Affairs

Morgan Stanley’s global economic outlook: Five takeaways Context- Morgan Stanley’s latest forecast suggests that some of the wealthiest countries will struggle to grow in the coming months while China is expected to regain its growth momentum. The TABLE alongside is sourced from Morgan Stanley’s latest forecast report. It looks at

Why is OPEC+ cutting oil output? Context- TheOrganization of the Petroleum Exporting Countries and allies including Russia, a group known as OPEC+ which pumps around 40% of the world’s crude, agreed on a new oil output deal on Sunday. Saudi Arabia, the group’s biggest producer, will make a deep cut

TRANSITION FROM LIBOR CONTEXT : Recently, the Reserve Bank of India (RBI) told banks and other regulated entities to ensure a complete transition away from the London Interbank Offered Rate (LIBOR) from July 1. MORE ABOUT THE NEWS: The RBI has established a system of alternative reference rates (ARRs) that

Cyclone Biparjoy Context: The formation of cyclonic storm Biparjoy may cause further delay in monsoon onset by two-three days. The Biparjoy is anticipated to move nearly northwards during the next 24 hours and intensify into a very severe cyclonic storm. The onset of Southwest monsoon is already delayed by six

Inflation Why in news: India’s retail inflation is likely to have fallen to a 25-month low of 4.34% in May from 4.70% in the previous month, helped by softer rise in food prices and a favourable base effect. More about retail inflation CPI: Consumer price index measures changes in the

Kerala Fibre Optical Network (KFON) Scheme Why in news: The Kerala government Monday (June 5) officially launched the Kerala Fibre Optical Network (KFON). Through KFON, Kerala, which was the first state to declare the right to internet as a basic right. It aims to reduce the digital divide by ensuring

BANNING OF DRUGS WHY IN NEWS ? Recently the government has banned the manufacture, sale and distribution of 14 fixed dose combination (FDC) drugs, citing “no therapeutic justification”. WHAT ARE FIXED DOSE COMBINATION (FDC) DRUGS ? An FDC is a cocktail of active ingredients used in a fixed ratio in

World Environment Day 2023: A glossary of terms to do with plastic pollution Context- Since the early 20th century, plastics have become a ubiquitous part of human life, despite their many adverse impacts on the environment. This year’s World Environment Day (June 5) has the theme of #BeatPlasticPollution, calling for

Why Coromandel Express crashed in Odisha Context- Minister for Railways Ashwini Vaishnaw has said that interference with the “configuration” of the track led the Coromandel Express to smash into the stationary goods train from behind at Bahanaga Bazar in Odisha’s Balasore on Friday evening. (Credits- Visual Dictionary Online) What is

Competition Commission of India About: The Competition Commission of India(CCI) is the chief national competition regulator in India. It is a statutory body within the Ministry of Corporate Affairs. It is responsible for enforcing the Competition Act, 2002 to promote competition and prevent activities that have an appreciable adverse effect on competition