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RBI holds interest rates steady at record lows as economic outlook improves

“Going forward, the Indian economy is poised to move in only one direction and that is upwards. It is our strong conviction, backed by forecasts, that in 2021/22, we would undo the damage that COVID-19 has inflicted on the economy,” Reserve Bank of India Governor Shaktikanta Das said after announcing the rate decision.

The repo rate or RBI’s key lending rate was held at 4% while the reverse repo rate or its borrowing rate was left unchanged at 3.35%.

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RBI unveils ‘One Nation One Ombudsman’ for grievance redressal of financial consumers

The RBI has said major payment system operators in the country would be required to facilitate setting-up of a centralised industry-wide 24×7 helpline for addressing customer queries in respect of various digital payment products and give information on available grievance redress mechanisms by September 2021.

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Another ship in rough Pacific Ocean spills containers overboard

Forty-one empty containers fell from the ship around Jan. 29, according to a website notice from marine-claims consultancy W.K. Webster, which said it has nominated a surveyor to investigate the extent of damage.​

​The incident is at least the second time this year, and the third time in less than 10 weeks, that a notable number of containers have fallen into the Pacific while ships ply the busy trade lane.

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More at risk of losing homes as climate change outpaces response, Fiji warns

Mami Mizutori, who leads the U.N. Office for Disaster Risk Reduction said globally, there had been a notable reduction in the loss of life caused by extreme weather events like storms and floods, as governments stepped up efforts over the past five years to evacuate millions of people to safer places. But the number of people affected by disasters remained “chronically high”, with displacement one of the harshest consequences, pushing many into crowded city slums or to other countries where they do not always get a friendly reception.

Only about 100 countries have so far put formal strategies in place to cut the risk of disasters, she said. Such plans can include things like early warning systems, stronger building codes and a ban on construction in flood-prone areas.

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