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2. RBI cut its benchmark rate by 25 basis
points to 7.75 per cent. RBI’s growth
estimate for 2014-15 is 5.5 per cent. a.
Bank Rate – 8.75 % (0.25% Decreased) b.
Cash Reserve Ratio – 4 % (Unchanged)
c. Statutory Liquidity Ratio – 22 %
(Unchanged) d. Repo Rate – 7.75 %
(0.25% Decreased) e. Reverse Repo Rate
– 6.75 % (0.25% Decreased) f. Marginal
Standing Rate – 8.75 % (0.25%
Decreased)
6. Hari Shankar Bramha was
appointed as the new Chief
Election Commissioner.
Brahma succeeds V.S.
Sampath.
7. Arvind Panagariya took charge as Vice-
Chairman of NITI Aayog. He became the first
vice-chairman of the National Institution for
Transforming India (NITI) Aayog, which
replaced the Planning Commission on 1
January 2015. NITI Aayog comprises of Prime
Minister as chairperson, one vice-chairman,
two full-time members, four exofficio
members (Union ministers) and three special
invitees.