Daily Update- 3,4th April

1.New Banking license for IDFC and Bandhan.

    RBI granted Banking license for infrastructure finance company IDFC and microfinance company Bandhan from the 25 applicants,RBI will consider the application of India post after consulting with Government of India,others are advised to submit afresh application.
committee for new banking license is headed by former Governor Bimal Jalan.

2.ISRO launched IRNSS 1B.

    Indian Space Research Organisation,launched the second satellite of India's regional navigation satellite system IRNSS 1B from Satish Dhawan Space center Sriharikota on 4th April.To start functioning the system will require four of seven satellites to be launched.The first of the series was launched on 1st july 2013.
These are the countries with own navigation system.

   1. United States : Global positioning system(GPS)
   2.Russia : Glonass
   3.Europe : Galelio
   4.China : Beidou
   5.Japan : Quasi Zenith Satellite System

3. R Gandhi Promoted as Deputy Governor of RBI

    After KC Chakraborthy quits the post of Deputy Governor,R Gandhi presently the executive Director is promoted as Deputy Governor of the central bank of India.RBI will have 3 Deputy Governor,Urjit Patel,HR Khan and R Gandhi.

4.DOHA Bank will open their Branch in Mumbai.

    Qatar based Doha bank will open their first branch at Nariman point in Mumbai by may 2014.

5.World's most accurate clock launched.

   National Institute of Standards & Technology,under US department of Commerce launched new atomic clock NIST F2 .which is claimed to be the accurate clock of the world.This will neither gain or lose a second for about 300 million years.

6.INSAT 3E decommissioned.

    ISRO decommissioned its communication satellite INSAT 3E after 10.5 years ,it had stopped working in march 2014

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.

Daily Update -24 March 2014

1.RBI orders banks to give copy of credit profile to customers.

    Reserve Bank of India order banks to give free copy of credit information report to it cs customers,this will give awareness about the need to have credit discipline.The suggestion was made by the panel headed by Aditya Puri chairman of HDFC bank.

2.Book on Lal Bahadur Sasthri Released.

   Tibetan Spiritual leader Dalai Lama released a book on former PrimeMinister Lal Bahadur Sasthri titled "Lal Bahadur Sasthri : lessons in leadership".This biography on sasthri is a rewind of his life narrated by his son,Anil Sasthri.

3. Jeev Milkha Singh,nominated for asian Tour's player of the decade award.

4. Fourth Hockey India National Championship.

   Men's Title : Air India retained men's title after beating comptroller & Auditor General of India Team for
4-1 in final held at Lucknow .
   Women's Title : Railway Sports promotion board defeated defending champions Haryana,4-0 to clinch Hockey India women's championship in Bhopal.


5.Supreme court Directs Centre to withdraw all orders making Aadhar Mandatory.

    Supreme court of India directs Government of India to withdraw all orders making Aadhar mandatory.It also suggested UIDAI not to share any information regarding the card holder without his/her consent.


6. Ebola virus detected in Guinea.

   Ebola virus which causes hemorrhagic fever is detected in Guinea.80 people were detected and out of this 59 is already dead,raising concerns to the authorities.

7. Stuart Oliver won first ever Indian truck racing Championship.

     Experienced British racer Stuart Oliver won the first ever TATA T1 Prima truck racing Championship on 23rd march 2014.

   

Daily Update - 21st March 2014

1. World Forestry Day Observed.

       World forestry day was observed on 21st march to increase public awareness about values of forests. United Nations Food and Agricultural Organization (UNFAO) on 1971 declared 21st march as world forestry day.


2. RBI Deputy governor KC Chakraborthy resigns.

        KC Chakraborthy ,deputy governor of the RBI resigns from office,3 months ahead of completion of his term.He was appointed in 2009 and extended his tenure in 2012,earlier he served as the CMD of Punjab National Bank(PNB)

3. Indian Journalist won Google digital activism Award.

       Indian Journalist Subranshu Choudhary won the digital activism award 2014 for regional news service defeating US whistle blower Edward Snowden.The award was given for his work using mobile phones to bring local news to tribals region in their native language.He is also the founder of CGnet swara that enbles tribals in Chattisgarh to connect to outside world.

4. Chinese insurance firm offered smog insurance.

       State owned insurance company ping An insurance  offere smog insurance for tourists and natives of six highly polluted cities Beijing,Shangai,Guangzhou,Xian,Chengdu and Harbin.Smog insurance will pay compensation for those who are plagued by smog,compensation will be based on air quality index(AQI)

5. RBI issued notice to banks concerning discontinuation of Windows XP.

 

  Reserve Bank of India raised concern over the threat expected to face from discontinuation of windows XP by Microsoft corporation from 8th April,Withdrawal will stop release of updates and patches for the OS, which will make it more vulnerable to virus attacks.In India most of the banking system are running on windows XP.