i. On the basis of an assessment of the current and evolving macroeconomic situation at its meeting, the Monetary Policy Committee (MPC) decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.0 percent.

ii. Consequently, the Reverse Repo Rate (RRR) under the LAF remains at 5.75 percent, and the Marginal Standing Facility (MSF) rate and the Bank Rate at 6.25 percent.
iii. The projection of real GVA growth for 2017-18 of the October resolution at 6.7per cent has been retained, with risks evenly balanced.

• Dr. Urjit Patel is the 24th Governor of RBI.
• RBI Headquarters in Mumbai.
• The next meeting of the MPC is scheduled on February 6 and 7, 2018.

i. Vice President M Venkaiah Naidu inaugurated the 12th Annual convention of central information commission at Vigyan Bhavan in New Delhi.

ii. The Vice President stressed on maintaining transparency and accountability in public life. As per the Minister of State in PMO Dr. Jitender Singh, the government has filled all vacant posts in the commission.

i. The 6th International Tourism Mart-2017 begins in Guwahati, Assam. The Ministry of Tourism, Government of India, in association with the North Eastern States is organizing this Mart from 5-7 December 2017.

ii. Shri Jagdish Mukhi, Governor of Assam inaugurated the 6th International Tourism Mart (ITM) -2017″. It will put the spotlight on India’s “Act East Policy”, blossoming ties with ASEAN and the larger East Asia region, home to the world’s rapidly growing economies and India’s emerging tourism markets.

• Assam CM- Sarbananda Sonowal, Governor- Jagdish Mukhi.
• Assam Capital – Dispur.

i. The 10th Jaipur International Film Festival (JIFF) is all set to present International Cinema to film buffs. The second and the last list of films selected for the Festival was released that includes a total of 48 films from 13 countries.

iii. The films for screening were selected by a 51 member-international committee of selectors from India, United States, Canada, France, Germany and Bangladesh. 

i. In terms of its Framework Agreement, with ratification by Guinea as the 15th country in November 2017, the International Solar Alliance (ISA) has now become a treaty-based international intergovernmental organization. The International Solar Alliance is India’s global initiative.

ii. The ISA was jointly launched by the PM Narendra Modi and the president of France in November 2015 in Paris, on the sidelines of COP-21, the UN climate conference. Till date, 46 countries have signed and 19 countries have ratified the framework agreement of the ISA.

International Solar Alliance (ISA)- now become a treaty-based international intergovernmental organization- aims at increasing solar energy deployment in member countries- signed by 46 Countries & ratified by 19 countries.

i. The Madhya Pradesh Assembly unanimously passed a Bill awarding death to those found guilty of raping girls aged 12 and below. With this, Madhya Pradesh becomes the first State where those convicted of such rapes will face the gallows.

ii. Introduced in the House by Law and Legislative Affairs Minister Rampal Singh, the Bill was discussed in detail and then passed by all parties.

• Madhya Pradesh CM- Shivraj Singh Chouhan, Governor- Om Prakash Kohli.
• The capital of Madhya Pradesh is Bhopal.

i. In a major victory for President Donald Trump, the US Supreme Court has allowed his travel ban to take full effect pending appeal, for people coming from six Muslim-majority countries.

ii. As a result of the Supreme Court’s ruling, Trump’s travel ban, which restricts travel to the US by people from Iran, Libya, Syria, Yemen, Somalia and Chad without bona fide connections to the US, can take full effect while legal challenges proceed.

i. Commerce and Industry Minister Suresh Prabhu let out more incentives while unveiling the mid-term review of the Foreign Trade Policy 2015-20 with a view to boosting exports.

ii. The minister stated that the Merchandise Exports from India Scheme (MEIS) incentive rate will be raised by 2 percent across the board for labor-intensive/MSME sectors.

i. Saudi Arabia Crown Prince Mohammed bin Salman has been voted the Time magazine readers’ Person of the Year, despite spearheading the continued bombardment of Yemen, leading to the starvation of its citizens.

ii. The award goes to those who “for better or worse” influenced the year. The 32-year-old scored 24 percent of the vote, with the #MeToo movement against sexual assault and harassment. Bin Salman overtook Hillary Clinton, Vladimir Putin and even the Pope to be crowned the people’s choice, winning far more votes than the three combined.

i. The Surface to Air Missile AKASH with indigenous radio frequency seeker against target Banshee has been successfully launched from the Launch Complex-III at ITR Chandipur, Odisha.
ii. The Radars, telemetry and electro-optical systems along the coast have tracked and monitored all the health parameters of the missile. This missile is being inducted into Army as Short Range Surface to Air Missile (SRSAM).

News in-a-line:
AKASH (Short Range Surface to Air Missile)– successfully launched from the Launch Complex-III at ITR Chandipur, Odisha- Range 25 km (Approx).

• AKASH is the first Surface to Air Missile with indigenous seeker that has been test fired.
• It can fly at supersonic speeds ranging from Mach 2.8 to 3.5, and engage aerial targets up to a range of approximately 25km.