Daily update - 1,2nd April

1. RBI monetary policy review highlights.

   a. Repo rate unchanged at 8 pc
   b. Cash Reserve Ratio to be unchanged at 4 pc.
   c. No rate hike if inflation continues to trend lower.
   d. Economic growth for 2014-15 expected at 5.5 pc.
   e. CAD expected to come down to 2pc of Gdp in 2014-15
   f. Retail inflation expected to be under 6 pc in 2014.

2.Manuel Valls named Prime Minister of France.

    Manuel Valls ,51 year socialist leader nominated as the Prime Minister of France.

3. US Ambassador to India Nancy Powell resigns.

4. New CPI as the new measure of inflation : RBI 

     Reserve Bank of India adopted new consumer price index as the measure of inflation.earlier Weightage was given to Wholesale price index than consumer price index.

5. 15000 crore loans for Indian project from Japan.

      Japan announced 1500 crore loan for five Indian projects
     a. New & Renewable energy Project
     b. MSME enterprises energy saving project
     c. Haryana distribution system upgradation project.
    d. Delhi Mass rapid transportation system.

6.World Bank Doubles Lending to  India,China,Brazil,Mexico and Indonesia.