Page-25 of Current Affairs - May, 2013

Govt approved IKEA’s FDI proposal of Rs.10,500 Crore

The government allowed Swedish furniture company IKEA to invest Rs 10,500 crore- the largest investment in the single brand retailing – for setting up home furnishing stores in the country since the government liberalized the FDI policy in retail sector in November, 2011. About IKEA IKEA is private held company and founded in Sweden in ..

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US rejects India’s request to serve summons against Google Facebook

US authorities held that they will be unable to execute the request by India for serving summons to 11 US-based websites including Google and Facebook. US  authorities also held that summons cannot be served to executives, as it impacts “free speech principles” that are protected under US Constitution and further it is not evident that it ..

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RBI eases rates, trims repo rate by 25bps to 7.25%

RBI reduced the Repo Rate (the rate at which RBI lends money to commercial banks), to 7.25% from 7.5% while keeping the CRR (Cash Reserve Ratio- the portion of deposits that banks require to maintain with RBI) unchanged at 4%. Monetary Measures Repo rate: reduction by 25 bps from 7.5% to 7.25% Reverse repo rate: ..

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Estimated GDP Growth at 5.7% for 2013-2014 – RBI

The RBI’s has projected a GDP growth for 2013-14 at 5.7% as against finance ministry’s projection of 6.1%- 6.7%. Indian economy grew by 5% in 2012-2013 on account of poor performance of manufacturing, agriculture and services sector. RBI’s current assessment is that economic activity will remain subdued and will only show a modest pick-up in second half ..

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May 3, 2013: World Press Freedom Day

World Press Freedom Day celebrated its 20th anniversary in on May 3, 2013.  The theme of World Press Freedom Day 2013 was “Safe to Speak: Securing Freedom of Expression in All Media”. The United Nation General Assembly declared May 3 as World Press Freedom Day in December, 1993 following a recommendation adopted at the 26th session of UNESCO’s General ..

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