Current Affairs - June, 2013

Fact Box: White Label ATMs

June 29, 2013

RBI gives nod to Muthoot Finance to set up White Label ATMs Indian gold loan company Muthoot Finance Ltd has obtained the RBI’s in-principle approval to set up the white label ATMs,as the government seeks to take financial services to the remote regions of the country. What are White Label ATMs? ATMs set up and run ..

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Train service linking Banihal in Jammu to Qazigund in Kashmir launched

June 29, 2013

PM Manmohan Singh and UPA chairperson Sonia Gandhi flagged off the first train connecting Banihal in Jammu region with Qazigund in Kashmir Valley. It was the first train to pass through 11 km tunnel through Pir Panchal Range. About Banihal-Qazigund Rail Service: The 18-km Banihal-Qazigund section, which includes an 11-km long Pir Panchal Range tunnel, the country’s longest, reduces the ..

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US to provide $150,000 for Uttarakhand flood relief via USAID

June 29, 2013

US secretary of state John Kerry reached out to India over the Uttarakhand disaster on Sunday as the US announced $150,000 through the United States Agency for International Development (USAID) to non-governmental organizations working in the most-affected areas. About USAID: The United States Agency for International Development (USAID) is the United States federal government agency primarily responsible for administering civilian foreign aid. USAID seeks to “extend a ..

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Obama nominates James Comey as next FBI director

June 29, 2013

The US President Barack Obama nominated James Comey as the next FBI (Federal Bureau of Investigation) Director. James Comey has been a registered Republican and former Justice Department official under President George W. Bush. The US senate is yet to confirm his nomination. He is likely to take charge from the outgoing Robert Mueller who held the post ..

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India: World’s 3rd most attractive FDI destination

June 29, 2013

As per the World Investment Report 2013 by the United Nations Conference on Trade and Development (UNCTAD), India is world’s third most attractive destination for investment by Transnational Corporations (TNCs) during 2013-15. In the survey based on responses of 159 companies, India has been positioned after China and United States. Thus India has retained its ..

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Rupee hits record low against dollar, plunges below 60 mark

June 29, 2013

The Indian rupee today ranked by a massive 105 points to close at a historic low of 60.71 against the dollar. The Indian Rupee declined below the 60 mark breaking the previous record low of 59.98 hit. The slump is being attributed to heavy capital outflow and increasing dollar demand from domestic importers and decline in most emerging ..

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