Niti Aayog

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1. National Development Council replaced with which one?
Answer :- Niti Aayog
1. Prime Minister of India is the head to Niti Aayog
2. PM appoint vice-chairaman 
3. 7-8 Full time members likely besides 2 part time members from leading universities and research bodies. 4 Union Ministers will be members.
4. Will have governing counicl of Cheif Ministers, Head of Union Territories.
5. Regional Councils to tackle issues related to more than one state/region

World Largest Economy

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1. Which country in the First place in GDP by Purchasing Power Parity?

1. USA (17.1%)
2. China (14.9%)
3. India (6.4%)
4. Japan (4.8%)
5. Germany(3.7%)
6. Russian Federation(3.5%)
7. Brazil (3.1%)
8. France (2.6%)
9. UK (2.4%)
10. Indonesia (2.3%)

• The most expensive economies in GDP terms are Switzerland, Norway, Bermuda, Australia and Denmark. The United states ranked 25th in the world. The cheapest economies are Egypt, Pakistan  Myanmar, Ethiopia and Lao People's Democratic Republic.

New Banks Approved By RBI

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1.Reserve Bank of India recently issued how many licence to  open banks in India?
Answer :- 2 (IDFC Ltd and Bandhan Financial Services)

• At present there are 27 Public Sector Banks and 22 Private Sector Banks in the country.
• RBI last awarded bank licence permits to Kotak Mahindra Banks and Yes Bank in 2003-04 Financial Year.

Rates of RBI

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1. What is Current Riporate ?
Answer :- 8%
2. What is Current Cash Reverse Riporate ?
Answer :- 4%

• Repo rate :- It is the rate at which Reserve Bank of India lends money to commercial banks in the event of any shortfall of funds.
• Revesre Ripo rate :- It is the rate at which Reserve Bank of India borrows money from commercial banks within the country.