Goaltide Daily Current Affairs 2023

Jan 16, 2023

Current Affair 1:
India-Bangladesh Friendship pipeline (IBFPL)


The India-Bangladesh Friendship Pipeline Project, signed in 2018 , will connect Siliguri in West Bengal in India and Parbatipur in Dinajpur district of Bangladesh.

The Friendship pipeline from India will start supplying diesel to Bangladesh from June. The 131.5  kilometer  long pipeline has been constructed for importing diesel from India, 126.5 km of which is in Bangladesh and 5 km in India.

Current Affair 2:
Open market operation (OMO)


Open market operation (OMO) is the process by which the central bank purchases (sells) government securities (G-secs) or other financial assets from (to) banks and financial institutions. In a modern market-based financial system, central banks use OMOs as one of the tools for implementing monetary policy. Generally, OMOs are conducted to adjust the supply of primary liquidity (base money) in an economy, thus influencing total money stock.

Current Affair 3:
What is reserve money?


Reserve money is the most important form of money supply. It is also called as high-powered money, base money and central bank money. All these names suggest that reserve money represents the base level for money supply or it is the high-powered component of money supply.

Components of Reserve Money

Reserve money (M0) = Currency in Circulation + Bankers’ Deposits with RBI + ‘Other’ Deposits with RBI.

Among these components, the most important one is currency in circulation. It includes notes in circulation, rupee coins and small coins.

(i) Currency in circulation’ includes notes in circulation, rupee coins and small coins. Rupee coins and small coins in the balance sheet of the Reserve Bank of India include ten-rupee coins issued since October 1969, two rupee-coins issued since November 1982 and five-rupee coins issued since November 1985.

(ii) ‘Bankers’ deposits with the Reserve Bank’: comprises of balances maintained by banks in the current account with the Reserve Bank mainly for maintaining Cash Reserve Ratio (CRR) and as working funds for clearing adjustments.

(iii) Other Deposits with the RBI: ‘Other’ Deposits with RBI comprise mainly: (i) deposits of quasi-government and other financial institutions including primary dealers, (ii) balances in the accounts of foreign Central banks and Governments, (iii) accounts of international agencies such as the International Monetary Fund, etc.

Current Affair 4:
Annual Status of Education Report 2022


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