Daily Current Affairs updates from 20 September 2013

Daily Current Affairs updates from 20 September 2013

Economy/Business

1) RBI Governor Raghuram Rajan surprised the industry and shocked the stock markets by hiking the short-term policy rate(Repo Rate) by 0.25 percent to keep "worrisome" inflation under check - a move that may increase EMIs for home and auto loans in the medium term. Other policy rates will be adjusted accordingly.

Present Bank Rates are as follows:

Bank rate: 9.50%

Repo rate: 7.50%

Reverse repo rate:6.50%

MSF rate: 9.50%

CRR: 4%

SLR: 23%

2) The benchmark BSE S&P Sensex slumped the most in almost three weeks, closing down 383 points after the RBI unexpectedly hiked the repo rate to check inflation.

3) Tata Steel appointed TV Narendran as its new Managing Director for India and South East Asia with effect from November 1.

4) Government approved a proposal to hike dearness allowance to 90 percent from existing 80 percent, a move that would benefit about 50 lakh Central Government employees and 30 lakh pensioners.

5) Soon after unveiling of the Reserve Bank's mid-quarter policy review, country's largest lender SBI said that lending and deposit rates will go up in view of the festive season demand.

National

1) CBI registered two enquiries to look into the issue of missing files on coal block allocations from the Coal Ministry.

2) Muzaffarnagar riots: BJP MLA Suresh Rana arrested in Lucknow.

3) Government cleared a proposal for regulating and monitoring the quality of care and education provided to children at play schools and crèches across the country.

4) Union Cabinet approved the National Early Childhood Care and Education (ECCE) policy which aims to help 158.7 million children under the age group of six, an official said.

5) Union Cabinet approved setting up of HPCL's Rs 37,229 crore refinery-cum- petrochemical complex in Rajasthan.

6) President Pranab Mukherjee gave away the National Communal Harmony Awards on Friday for 2011 and 2012.

International

1) Chinese space station to open for foreign astronauts soon.

2) Deaths from floods and landslides battering Mexico neared 100 as a fresh hurricane hit the northwest and rescuers faced a risky mission in a village buried in mud.

3) A top UN official said the global AIDS epidemic could be over by 2030 because of progress made in treatment and control of the disease.

4) Prince George, two-month-old British royal baby, has eclipsed Prime Minister David Cameron and Mayor Boris Johnson to become the ‘most influential’ person in London.

5) Legendary artist MF Husain's landmark painting 'Bhopal,’ which depicts the horrors of the 1984 gas leak tragedy in the Central Indian city, is set to be auctioned in London, with a pre-sale estimate of up to 3,00,000 pounds.

Sports

1) Lionel Messi at his ‘sensational’ best with 62 Champions League goals.

2) Indian challenge at the USD 200,000 Japan Open Super Series ended after shuttlers Ajay Jayaram, K Srikanth and HS Prannoy lost their respective men's singles quarterfinals at the Tokyo Metropolitan Gymnasium.

3) India's triple jumper Renjith Maheshwary suffered a massive set-back as the Sports Ministry decided not to give him the Arjuna Award after detailed investigations revealed that the athlete had indeed failed a dope test during the national championships in 2008.

4) Former secretary of the Indian Cricket Board, Jaywant Yeshwant Lele passed away at his residence following a massive heart attack.

5) Kolkata giants Mohammedan Sporting created history by winning the prestigious Durand Cup Football tournament after a gap of 73 years, defeating ONGC 2-1 in the final held in New Delhi.