1) RBI kept key policy rates unchanged in the
first bi-monthly monetary policy: As widely expected, the Reserve Bank of
India, on Tuesday, kept the indicative policy rate (repo) unchanged at 8 per
cent while taking measures to provide longer term liquidity in the system. Repo
rate is the rate at which banks borrow funds from the central bank. “On the
basis of an assessment of the current and evolving macro-economic situation, we
have decided to keep the policy repo rate unchanged at 8 per cent,” said RBI Governor
Raghuram Rajan at a a press conferenceto announce the first bi-monthly monetary
policy for 2014-15.
2) SC rules out review of Rajiv case
commutation: The Supreme Court on Tuesday declined to review its February
18 ruling in the Rajiv Gandhi assassination case, commuting the death sentence
of three convicts — Murugan, Santhan and Perarivalan — to life imprisonment.
“We have carefully gone through the review petition. We find no merit in the
review petition and the same is dismissed,” a Bench of Chief Justice of India
P. Sathasivam and Justices Ranjan Gogoi and Shiva Kirti Singh said in a brief
order.
3) Manuel Valls named as New French Prime
Minister: France’s president has named 51-year-old Socialist Manuel Valls
as the country’s new prime minister. In a prerecorded televised speech,
Francois Hollande said Valls, the former interior minister, would lead a
“combative government.” Valls, who is consistently voted France’s most popular
Socialist in opinion polls, is considered to be part of the right-wing side of
the party and is also relatively popular with French conservatives.
4) After 10 years in orbit, INSAT-3E expires:
Communications satellite INSAT-3E has completed its life and gone out of
service. Built to last 15 years, it has completed ten-and-a-half years in
orbit. The third-generation satellite was launched in September 2003 with 36
transponders — 24 C-band and 12 extended C-band transponders — but only 25 of
them have been working since 2009.
5) Viswanathan Anand raises to No. 3 in FIDE
world chess rankings: Viswanathan Anand ranked World number 3 in the rating
list released by FIDE on 1 April 2014. Anand with the Victory at the Candidates
Tournament held in Russia in March 2014 has moved five places ahead from 8 to 3
with 2785 Elo points. According the rating list, Magnus Carlsen of Norway with
Elo points 2881 ranks no 1 and Levon Aronian of America with 2812 ranks 2.
6) FinMin against raising I-T exemption limit
to Rs 3 lakh: The Finance Ministry has rejected the recommendation of the
Parliamentary Standing Committee headed by former Finance Minister Yashwant
Sinha on raising the income tax exemption limit to Rs 3 lakh. The
recommendation was made as part of the Committee’s report on the Direct Tax
Code (DTC). Adjusting the slabs will cause tax revenue losses to the tune of Rs
60,000 crore a year to the exchequer, the Ministry has said.
7) RBI to give new bank licences within the
next 10-15 days after Election Commission's nod: The Reserve Bank of India
is likely to hand out new banking licences within the next 10-15 days after the
Election Commission gave its go ahead for the plan despite elections kicking
off in a few days. That will set the stage for some such as India Post Bank,
L&T Finance Holdings, Infrastructure Development Finance Co and Janalaxmi
Financial Services to get the bank licence and unleash competition. There are
25 applicants for the licence, including Reliance Capital, Aditya Birla Nuvo,
and Indiabulls Group.
8) India to face South Africa in T20 World Cup
semis: Unbeaten Team India will play South Africa in the second semi-final
of the ICC World T20 on Friday. India had finished on top of Group two while
South Africa finished as the second team in Group one.
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