Current Affairs – September, 2013

RBI hikes repo rate by 25 basis points to 7.5%

In a surprising move, the Reserve Bank of India Governor Raghuram Rajan, in his maiden mid-quarter monetary policy review, hiked the short-term lending (repo) rate to 7.5%, seeking to control inflation. The Cash Reserve Ratio (CRR) was left untouched at 4%. To ease liquidity, the Marginal Standing Facility (MSF) rate, at which banks borrow from Read More…

China launches its first direct bank

China launched its first direct bank, a new mode of providing online banking services without any entity outlets.  The direct bank has been launched by the Bank of Beijing in co-operation with the Netherlands-based ING Group. What is a Direct Bank? A direct bank is a bank without any branch network that offers its services remotely via online banking and telephone banking and may Read More…

September 21 observed as International Day of Peace

International Day of Peace was observed on September 21 across the world to acknowledge the efforts of those who have strived to end conflict and promote peace. The International Day of Peace is also observed as a day of ceasefire. The theme for the year 2013 is Education for Peace. About International Day of Peace: The Read More…

U.N. finds extensive use of chemical weapons in Syria

As per the report released by the U.N., the experts have found large-scale use of banned chemical weapons in Syria. The U.N. inspectors have found clear evidence that “Sarin Gas” killed hundreds of people in an attack on Ghouta near Damascus on August 21, 2013. The attack triggered threats by the US and other western nations Read More…

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Indian Navy to get Vikramaditya in mid-November 2013

The Indian Navy will soon get its second aircraft carrier, 45,000-tonne Vikramaditya as the warship has successfully completed all aviation trials in the White Sea. Formerly Admiral Gorshkov which has been renamed INS Vikramaditya, the ship has been undergoing refitting and refurbishment at the Sevmash shipyard in the Russian city of Severodvinsk. It is likely Read More…