Amid military talks, reports of Chinese buildup at Pangong
- The talks are aimed at reducing tensions, continuing the disengagement agreed earlier and restoring the status quo ante prior to May 5 along the Line of Actual Control (LAC). On June 6, both sides mutually identified five locations of conflict — Patrolling Point (PP) 14, 15, 17A, North bank of Pangong Tso and Chushul.
- According to satellite images made available on Twitter by Nathan Ruser, researcher at the Australian Strategic Policy Institute, an independent think tank based in Canberra, China, which has moved up to Finger 4 since the beginning of the stand-off in May, has now undertaken a major build-up between Finger 4 and Finger 8 and also on the ridge lines overlooking Finger 4
- India holds the mountain spurs till Finger 4, while its claim is till Finger 8. Defence sources had stated that Pangong Tso would take time to resolve and would be taken up at the Corps Commander level.
CBSE to seek SC directive on exams
- The Central Board of Secondary Education (CBSE) will inform the Supreme Court of its position on the pending Board examinations on Tuesday, and let the court take a final call on cancellation, according to senior officials at the Human Resource Development Ministry.
- The CBSE is likely to offer an alternative assessment methodology in lieu of examinations, such as using internal assessment scores, or the average marks from already completed papers. Another possibility could be to allow students who wish to write the examination and improve their scores, to do so at a later date.
Cooperative bank disburses ₹187 cr. in gold loans during lockdown
- The Tamil Nadu State Apex CoOperative Bank Limited has so far disbursed ₹187 crore to 20,000 people in Chennai during the lockdown period, under its loan against gold scheme.
- Under the scheme, the gold was valued at 10% more than in the usual gold schemes, or in other words the gold was valued at ₹3,300 per gram, compared to ₹3,000 per gram in regular schemes.
- The loan attracts an interest of 6% per annum, when compared to 9.5% in regular schemes. The minimum amount that can be borrowed is ₹25,000 and the maximum is ₹1 lakh with a repayment period of three months and an additional grace period of three months.
- The scheme attracts a processing fee of 1% plus GST. For a ₹50,000 loan it will be ₹590 (1% on 50,000 plus 18% GST). The Prime Minister accidental insurance scheme with cover of ₹2 lakh would be offered free for borrowers under the scheme.