1. US becomes India's second biggest oil supplier, Saudi plunges to fourth spot

  • Refiners boosted cheaper US crude purchases to record levels to offset Opec+ supply cuts, data from trade sources showed
  • The switch in supplies, triggered by lower US crude demand, coincided with Saudi Arabia’s voluntary extra 1 million bpdoutput cut on top of an agreement by the Organization of the Petroleum Exporting Countries and its allies (Opec+) to maintain lower production

2. India fourth largest forex holder in world, exceeds Russia

  • India pulled ahead as Russian holdings declined at a faster rate in recent weeks as the Reserve Bank of India (RBI) continues to hoard dollars to cushion the economy against any sudden outflows
  • China has the largest foreign currency reserves followed by Japan and Switzerland

3. World Bank economist Deepak Mishra appointed as ICRIER Chief Executive

  • Deepak Mishra is currently a Practice Manager in the World Bank's macroeconomics, trade and investment global practice responsible for East Asia and Pacific region
  • Deepak Mishra has been appointed as the next Director and Chief Executive of leading think-tank Indian Council for Research on International Economic Relations (ICRIER).

4. Govt announces new scheme for tourist vehicle operators

  • In a bid to promote tourism and grow state revenues tourist vehicle operator may apply for an "All India Tourist Authorization/Permit" through online mode.
  • Permit will be issued after the submission of relevant documents and fees within 30 days of submission of such applications and the new set of rules will be applicable from April 1.

5. Govt. reconstitutes panel for studying Sarasvati river

  • The Archaeological Survey of India issued a notification for “reconstitution of the Advisory Committee for the Multidisciplinary Study of the River Sarasvati”. The ASI had first set up the committee on December 28, 2017 for a period of two years
  • The committee would continue to be chaired by the Culture Minister and include officials from other ministries

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