Current Affairs Assam – August 2018
( Covers all important Assam Current Affairs & GK topics for the month of August 2018 )
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August 21
Vinesh Phogat Becomes 1st Indian Woman Wrestler to Win Gold in Asian Games
Vinesh Phogat created history by becoming the first Indian woman wrestler to win a gold medal at the Asian Games, brushing aside her rivals with remarkable ease in the 50 kg category in Jakarta. Vinesh did not give her opponent any chance and came out a dominant winner with a 8-2 score.
Vinesh had earlier won a bronze medal in the 48 kg category at the 2014 Incheon Asian Games. Vinesh also won back-to-back gold medals in Glasgow and Gold Coast Commonwealth Games this year.
RBI calls for an umbrella law for Public Credit Registry
The Reserve Bank of India (RBI) deputy governor Viral V Acharya on 20th Aug called for enacting a special law to enable the proposed public credit registry (PCR) to come into being
With a low credit-to-GDP ratio of a modest 55.7%, the country is still under-penetrated financially and the proposed PCR can help the system move towards more equitable and timely access to credit, especially to the underserved segments, and thus democratise and formalise the credit flow.
According to the Q4 2017 data from the Bank for International Settlements, India’s credit-to-GDP ratio stood at a low 55.7%, against China’s 208.7%, Britain’s 170.5% and the US’ 152.2%. Norway lead the chart with 245.6% credit-to-GDP ratio.
Underlining that almost everywhere PCRs are backed by a specific law. A PCR Act can enable us transparently address the entire gamut of governance issues including data acquisition and its dissemination through access rights by various users.
Public Credit Registry is an extensive database of credit information; for analysing, addressing and preventing in future the twin balance-sheet problems of banking and corporate sector.
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