Page-34 of Current Affairs - October, 2013

RBI eases trade credit rules to raise funds from overseas

The Reserve Bank of India eased trade credit norms to raise funds from abroad. As per RBI’s notification, all types of firms can avail trade credit facility now from overseas for import of capital goods. The relaxations in norms allow companies in all sectors to avail trade credit not exceeding $ 20 million up to a ..

Month: 

Topics: 

PM approves setting up of 7th Central Pay Commission

The Prime Minister of India Manmohan Singh has approved the constitution of the Seventh Central Pay Commission (CPC). If we go by the average time of 2 years taken by a Pay Commission to submit its recommendations, it is expected that the recommendations of this Pay Commission will be implemented with effect from January 1, 2016. ..

Month: 

Topics: 

M60-UCD1: Densest galaxy ever discovered

Scientists have discovered the densest galaxy ever which they have named as M60-UCD1.  The galaxy was discovered using NASA’s Hubble Space Telescope. Follow-up observations were done with NASA’s Chandra X-ray Observatory and ground-based optical telescopes, including the Keck 10-metre telescope in Hawaii. About M60-UCD1: Ultra-compact dwarf galaxy Found in the Virgo cluster of galaxies Packed with ..

Month: 

Topics: 

RBI directs Banks to end zero interest EMI schemes

In a major blow to the banks and merchant establishments, the Reserve Bank of India has instructed banks to stop offering zero interest EMI (Equated Monthly Installment) schemes for the purchase of consumer goods in a bid to discourage them from offering such schemes or products. RBI has asked banks to offer uniform interest rates ..

Month: 

Topics: 

RBI will use OMOs to ensure liquidity

Giving assurance to the markets, the Reserve Bank of India said that it will take actions, including Open Market Operations (OMOs), to ensure adequate liquidity in the system. The central bank’s assurance follows hardening of yields on government securities after governor Raghuram Rajan raised the repo rate by 25 basis points to 7.50%. Why there is hardening in yield on ..

Month: 

Topics: