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Daily News Digest:08 February 2019

American members of US-India CEO Forum announced

US Commerce Secretary Wilbur Ross has announced the names of the American private sector members of the US-India CEO Forum.

Among the members are MasterCard CEO Ajay Banga and Qualcomm CEO Steve Mollenkopf.

The first meeting of the forum is scheduled to be held in New Delhi on February 14 2019.

It will be co-chaired by Ross and Minister of Commerce and Industry and Civil Aviation Suresh Prabhu.

Trump nominates US treasury diplomat David Malpass to head World Bank

In the USA, President Donald Trump has nominated senior Treasury official David Malpass as the next chief of the World Bank. He would replace Jim Yong Kim as the president if voted by the Directors of the World Bank Group.

The US is the largest shareholder of World Bank and has 16% of voting power. Traditionally, the president of World Bank is chosen by the US and president of IMF by Europe.

Macedonia signs accord to join NATO

NATO members signed an accord with Macedonia on 06 Feb allowing the tiny ex-Yugoslav republic to become the 30th member of the U.S.-led alliance.

NATO – North Atlantic Treaty Org

The ratification process typically takes about a year and it North Macedonia will formally join the alliance in 2020.

Dinkar Gupta appointed as Punjab DGP

Senior IPS officer Dinkar Gupta on 07 Feb 19 took over as the new Director General of Punjab Police, succeeding Suresh Arora, who was on an extension after his retirement on September 30 last year.

RBI cuts repo, reverse repo rate in its bi-monthly monetary policy

On the basis of an assessment of the current and evolving macroeconomic situation at its meeting, the Monetary Policy Committee (MPC) decided to: Reduce the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points from 6.5 per cent to 6.25 per cent with immediate effect.

Consequently, the reverse repo rate under the LAF stands adjusted to 6.0 per cent, and the marginal standing facility (MSF) rate and the Bank Rate to 6.5 per cent.

The MPC also decided to change the monetary policy stance from calibrated tightening to neutral.

Vidarbha lifts Ranji trophy for second time in row

Vidarbha lifted their second successive Ranji Trophy title with a comfortable 78-run win over Saurashtra in the final.

Sarwate, without doubt, was the star of the match for Vidarbha as he not only took 11 of the 20 Saurashtra wickets with his left-arm spin, his 49-run knock in the second innings played a key role in his side setting the stiff 206-run target.

Mirabai Chanu lifts Gold in EGAT Cup in Thailand

World champion Indian weightlifter Saikhom Mirabai Chanu won a gold medal at the EGAT Cup in Thailand.

Chanu won the 48kg category gold with an effort of 192 kg in the silver level Olympic qualifying event. 

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