- The Tamil Nadu government increased the age of superannuation of its employees to 59 years from 58, in an attempt to give itself some relief from a near ₹5,000-crore financial burden.
- The ministry of road transport and highways has set a target of constructing roads worth 15 lakh crore over the next two years said by union minister Nitin Gadkari during meeting via video conferencing with the members of SIAM (Society of Indian Automobile Manufacturers) Institute on impact of COVID-19 on auto sector.
- The Asian Infrastructure Investment Bank (AIIB) has, approved a loan of USD 500 million to support India’s efforts to fight the COVID-19 pandemic.
- Finance Minister Nirmala Sitharaman said public sector banks (PSBs) sanctioned loans worth Rs 5.66 lakh crore to borrowers during March and April, and disbursement will start soon after the lockdown is lifted, leading to economic recovery.
- Paytm Payments Bank said it has crossed Rs 600 crore in fixed deposit accounts as it witnessed growth during the lockdown period due to volatility in other assets.
- The National Bank for Agriculture and Rural Development (Nabard) has disbursed ₹12,767 crore to State Co-operative Banks (StCBs) and Regional Rural Banks (RRBs) across the country to augment their resources for extending credit to farmers during the ongoing lockdown.
- The Supreme Court held that the cooperative banks involved in the activities related to banking are covered within the meaning of ‘banking company’ and Parliament has legislative competence to provide for procedure for recovery of loan under the Sarfaesi Act.
- Moody’s Investors Service said it estimates India’s GDP growth to hit zero’ in FY21 and pointed to a wide fiscal deficit, high government debt, weak social and physical infrastructure, and a fragile financial sector.
- The Coir Board has signed a pact with the Indian Institute of Technology-Madras to establish a centre of excellence for the application of Coir exclusively or in combination with other natural fibres.
- Uttar Pradesh Chief Minister Yogi Adityanath launched the ‘Pravasi Rahat Mitra’ App that is aimed at aiding migrant citizens coming to Uttar Pradesh from other states so that they can take advantage of government schemes. The app will also help to monitor their health besides providing jobs and livelihood, related to their skills.
- World Thalassemia Day is observed on every 8th of May. This day tries to help Thalassemia patients lead a normal life despite the burden of the disease. This is a blood disorder in which the body has less hemoglobin than normal. World Thalassemia Day theme 2020 is ‘’The dawning of a new era for Thalassemia: Time for a global effort to make novel therapies accessible and affordable to patients”.
- World Migratory Bird Day observed on May 9 every year is celebrated to raise awareness about conservation and ecological importance of such birds in the global ecosystem. World Migratory Bird Day 2020 celebrated with the theme “Birds Connect Our World “
