Important News to be read from “The Hindu 08-02-2020”

SC not in a hurry to hear govt. pleas on execution

• A Bench, led by Justice R. Banumathi, remained impassive as Solicitor ­General Tushar Mehta urged the court to issue a formal notice to the convicts on the appeals. The law officer intermittently asked the court to at least allow the government to serve the copies of the appeal papers to the convicts through the jail authorities.
• The Supreme Court on Friday conveyed that it is in no hurry to hear the appeals filed by the Centre and the NCT of Delhi for permission to separately execute Nirbhaya convicts.

Bank of India, State Bank cut interest rates

• A day after the Reserve Bank of India (RBI) announced measures to ease interest rates, the State Bank of India (SBI) and the Bank of India (BoI) have reduced their lending rates by cutting the marginal cost of fund­based lending rate (MCLR).
• The SBI has reduced the MCLR by 5 bps across all maturities.
• The one­ year MCLR will become 7.85% with effect from February 10.
• The country’s largest lender indicated that the lending rates would come down further.

Odisha Cabinet approves budget

• The Odisha Cabinet on Friday approved the budget for 2020-21 which is likely to touch ₹1.50 lakh crore. The budget will be presented by Finance Minister Niranjan Pujari in the State Assembly on February 18.
• The Cabinet also approved execution of five rural piped water supply projects to provide safe drinking water to five Blocks in Sundargarh district under the Odisha Mineral Bearing Areas Development Corporation funding.
• The five projects, which will be completed within 24 months at a total cost of over ₹660 crore, will benefit more than three lakh people in nearly 500 villages spread over the five Blocks of Sundargarh.