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EIB skeptical about recovery of Eurozone crisis within two years
The European Investment Bank (EIB) is doubtful about the recovery of Euro zone from its debt crisis within the next two years. As per the Bank the pressure on the European member state to settle the situation will remain for ..
Month: Current Affairs - July, 2012
EU offers Spain bank financial aid and more time to cut deficit
European Union has offered ailing Spain more time and 30 billion euro to save the country’s banks and protect Europe from more debt crises. EU ministers promised to provide the funds with 100 billion euro ($123 billion) potentially available in ..
Month: Current Affairs - July, 2012
Property transaction Norms for NRIs, eased by RBI
The Reserve Bank of India (RBI) recently allowed Indians who have non-resident accounts in India to hold them in any currency which is fully convertible. This decision by RBI is likely to assist NRIs/PIOs (Persons of Indian Origin) as it ..
Month: Current Affairs - December, 2011
European Financial Stability Facility
European Financial Stability Facility (EFSF) is a SPV (special purpose vehicle) financed by members of the Eurozone to combat the European sovereign debt crisis. It was agreed by the 27 member states of the European Union on 9 May 2010, ..
Month: Current Affairs - December, 2011
European Debt Crisis
Background: The Euro’s introduction in 1999 came along with unified interest rates in the nations that share the currency. These unified interest rates allowed members to borrow heavily. The result was that the bonds that were issued by the nations ..
Month: Current Affairs - November, 2011
Major Recommendation of the K J Udeshi panel of RBI
Ms. K J Udeshi is a former Deputy Governor of RBI. The K J Udeshi Panel was constituted by RBI in May on Forex dealings. Seeking improvement in individual foreign exchange transactions, the panel has said the central bank should ..