 Reserve Bank of India and Bank of Japan have signed a Bilateral Swap Arrangement (BSA). The BSA was negotiated between India and Japan during the visit of Prime Minister Narendra Modi to Tokyo in October 2018. The BSA provides for India to access 75 billion US dollars whereas the earlier BSA had provided for 50 billion dollars. The BSA was approved by the Union Cabinet in January. India can access the agreed amount of 75 billion dollars for its domestic currency, for the purpose of maintaining an appropriate level of balance of payments or short-term liquidity. |
| Source: News On AIR |
 National Science Day is celebrated across India on February 28. Famous Indian scientist Sir Chandrasekhara Venkata Raman or CV Raman discovered the Raman Effect on this day in 1928. For his discovery, Sir CV Raman was awarded the Nobel Prize in Physics in 1930. In honour of this discovery and as a mark of tribute to the scientist, National Science Day was marked for the first time on February 28, 1987. This year the theme for the National Science Day is ‘Science for people and people for science’. |
| Source: NDTV |
 India ranked 47th in the ‘Inclusive Internet Index 2019’ which is prepared by the ‘Economist Intelligence Unit (EIU) for Facebook. The index was expanded to include 100 countries which will represent 94% of the world’s population and 96% of global GDP. Sweden topped the index whereas Singapore ranked 2nd and the USA ranked 3rd. India maintained its previous year rank. |
| Source: Business Standard |
 With a net worth of $54 billion, Reliance Industries Chairman Mukesh Ambani has broken into the global top 10 richest billionaire list compiled by Hurun Research. The Hurun Global Rich List 2019 is topped by Amazon chief Jeff Bezos for the second year in a row, while the senior Ambani is placed 8th with a network of Rs 3.83 trillion. Ambani is the only Asian among the top 10. |
| Source: Hurun |
 West Bengal Education Minister Partha Chatterjee inaugurated a web portal, ‘Banglar Shiksha’, which is set to provide real-time data on state-run and aided schools. The portal, banglarshiksha.gov.in, will be up and running in two months’ time, the minister stated. A statement issued by the school education department stated that the portal will store real-time data of 1.5 crore students, 5 lakh teachers and 1 lakh schools. |
| Source: Business Standard |
 Union Textiles Minister Smriti Irani inaugurated the ‘Titanwala Museum’ that showcases the hand block printing of the Chhipa community in Bagru. Bagru printing is one of the traditional techniques of printing with natural color followed by the chippas of Rajasthan. The Bagru hand-block printing has a history of over 1000 years. |
| Source: Business standard |
 Muhammadu Buhari was re-elected Nigeria’s President, results showed, after a delayed poll that angered voters and led to claims of rigging and collusion. Buhari, 76, took an unassailable lead of more than four million votes as the last states were yet to be declared, making it impossible for his nearest rival, Atiku Abubakar, to win. |
| Source- DD News |
 The Reserve Bank of India (RBI) has taken off Allahabad Bank, Corporation Bank and Dhanlaxmi Bank from the Prompt Corrective Action (PCA) framework allowing them to resume their normal lending activities. The Board for Financial Supervision (BFS) met to review the performance of banks under PCA and noted that the government has infused fresh capital into various banks including some of the banks currently under the PCA framework. |
| Source- DD News |
 State-run Bank of Baroda has tied up with Germany’s KfW Development Bank for funding of USD 113 million to refinance solar projects. The tie-up is part of an Indo-German Solar Energy Partnership signed in 2015. |
| Source- Business Standard |
 Assam Chief Minister Sarbananda Sonowal launched the PRANAM Commission, which is a panel set up to look after the issues concerning a Bill brought in for the protection of parents of state government employees. The Parents Responsibility and Norms for Accountability and Monitoring (PRANAM) Bill, stated to be the first-of-its-kind bill in the country, aims to protect elderly parents of government employees in their times of need. |
| Source: The Times Of India |
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