Current Affairs Updates : Business & Economy : August 22, 2009

August 21, 2009: Support Price for grains hiked
August 21, 2009: RBI puts Rs. 10000 cap on 3rd party ATM withdrawals
August 20, 2009: Some of 100 Most Powerful Women featured in Forbes
August 19, 2009: Narayana Murthy will join National Payment Corporation of India board
August 19, 2009: Infosys , Ebix & Syntel feature in world’s 100 fastest growing companies by Forbes
August 19, 2009 :India gets $ 2.58 billion FDI in June
August 17, 2009: Airtel launches wholesale services
August 17, 2009: India’s first fast breeder reactor by 2010 at Kalpakkam

August 21, 2009: Support Price for grains hiked:
Government of India has raised the Minimum Support Price or MSP,for paddy and pulses by 100 rupees per quintal to support drought-hit farmers.

August 21, 2009: RBI puts Rs. 10000 cap on 3rd party ATM withdrawals
The Reserve Bank had made third party ATM transactions free from April.
Now not more than Rs 10,000 can be withdrawn each time they are used and limited the number of such transactions to five a month.
What is the issue ?
Since April 1, RBI had declared third party ATM usage, including cash withdrawals and account enquiries, free for all customers and said that banks can charge Rs 18-20 per month from other banks in case of third party ATM transaction.After April there was an increase in the third party transactions and so the banks approached the Reserve Bank through IBA to revisit the current norms and make necessary modifications.

August 20, 2009: Some of World’s 100 Most Powerful Women featured in Forbes
Here are some of the ladies wo have featured World’s 100 Most Powerful Women list compiled by Forbes.
Angela Merkel: Chancellor of Germany : Rank 1
Sheila Bair, Chairperson, Federal Deposit Insurance Corp, USA,: Rank 2
Indira Nui :Pepsico : Rank 3
Cynthia Carroll, chief executive of Anglo American: rank 4
Ho Ching, CEO of Temasek : Rank 5
Chanda Kochar : ICICI Bank Rank 20
Sonia Gandhi : Indian National Congress Rank 13
Kiran mazumdar Shaw : Biocon : Rank 91

August 19, 2009: Narayana Murthy will join National Payment Corporation of India board
Infosys chief mentor, N R Narayana Murthy will become become the non-executive chairman of the National Payment Corporation of India (NPCI) being set up to handle the retail payment operations of the Reserve Bank of India. this news was published in newspapers.

August 19, 2009: Infosys , Ebix & Syntel feature in world’s 100 fastest growing companies by Forbes
World’s fastest growing company is Canada-based Research In Motion, the maker of BlackBerry phones. Three Indian-founded companies Infosys Technologies, Robin Raina-founded insurance company Ebix, and Bharat Desai co-founded IT company Syntel, have made it to Fortune’s 100 fastest growing companies.

August 19, 2009 :India gets $ 2.58 billion FDI in June
India has attracted foreign direct investment worth $2.58 billion in June. This figure is 8% increase over the same month last year. In June 2008, the FDI inflow was USD 2.39 billion.

August 17, 2009: Airtel launches wholesale services
Bharti Airtel has unveiled its wholesale service portfolio.

What is this service ? This service will enable telecom operators across 50 countries access services like MPLS, ethernet, IP and International Private Leased Circuit (IPLC) services. The portfolio includes solutions for voice and data connectivity, collaboration services, co-location, carrier outsourcing and content distribution through its high speed submarine network.

August 17, 2009: India’s first fast breeder reactor by 2010 at Kalpakkam:
A 500-Mw fast breeder reactor (FBR) for generating commercial nuclear energy will be commissioned in 2010 at kalpakkam in Tamilnadu. This will mark India’s entry into second phase of her three-stage nuclear energy programme.
Some Notes :

  1. India also has plans to commission 4 more FBRs in 2020.
  2. The reactor is being set up by the Bharatiya Nabhikiya Vidyut Nigam Ltd (Bhavini).
  3. The special purpose vehicle set up by the government in 2003 for constructing FBRs in the country under the Department of Atomic Energy (DAE).
  4. Designing part is performed by Indira Gandhi Centre for Atomic Research (IGCAR).
  5. DAEs research body developing the FBR technology in India.
  6. R Chidambaram is the principal scientific adviser to the government of India
  7. India has an installed nuclear power generation capacity of over 4,000 Mw, contributed by the state-owned Nuclear Power Corporation of India Ltd (NPCIL) through its 15 PHWRs and two boiling water reactors (BWRs). NPCIL produces nuclear power in the country, as the Atomic Energy Act, 1962, prohibits private entry into nuclear power generation.
    Govt. of India has plans to raise nuclear power generation capacity five-fold to over 20,000 Mw by 2020.

Three stages of Govt. of india’s Nuclear energy programme:
Stage I involves natural uranium fuelling pressurised heavy-water reactors (PHWRs).
Stage II involves FBRs, based on plutonium extracted from the spent fuel of the first stage.
Third III involves India’s vast thorium reserves to be used to generate electricity.

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Comments

  • Anonymous
    Reply

    dear sir, if i post the questions of recently held esic dy director exam, will you give solutions for that in your blog. around 15000 people have appeared for this exam and all are eager to judge thier performance

  • Admin
    Reply

    You are most welcome send them on [email protected]

  • Anonymous
    Reply

    Nice work ….

    Can the admin go a step ahead and give the summary of news ,daywise from Hindu newspaper (or any national daily )

    Just a suggestion .. havent seen any site doing so ….

  • sunita choudhary
    Reply

    gr8 wrk sir….evn i hvnt seen any site publishing d summary from hindu newspaper…it'll b a gr8 help if u cn do that…

  • zoora
    Reply

    wow. I like the way you sumarize the news better. Why confine youeself to Hindu or TOI ? Frankly I like the format of blog just fine.

  • Anonymous
    Reply

    Yes that will be really fantastic thing to be looked upon.

  • Nandini
    Reply

    Sir,
    Your method of given info/ knowledge is fine. which covers the news given in all major news papers.

    Thnak u Sir

  • Anonymous
    Reply

    Sir,
    I find it very useful for all those, who are preparing for competitive exams.

    Thank you sir for publishing good daily current news quizzes.

    Thank you sir.