CURRENT AFFAIRS 27-28th Nov., 2014

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CURRENT AFFAIRS 28th Nov., 2014

1. Reserve Bank of India has allowed banks to extend loans to individuals against long-term bonds issued by them. This would provide liquidity to retail investors and the loan is subjected to a ceiling - Rs.10 lakh per borrower.

2. Sebi wants listed companies to have a dividend distribution policy and hoarding of cash to be discouraged. It is working on a proposal to encourage companies to distribute a certain amount of dividend among shareholders for a certain profit made by them.

3. SAARC nations resolved to set up a South Asian Economic Union similar to that of European Union by facilitating a common market and removing trade barriers. The nations also called for early operationalisation of SATIS (SAARC Agreement on Trade in Services) which may spur growth in a significant way.

4. Government plans to raise about $14.4 billion by reducing its stakes in state-run banks to 52 per cent. Public sector banks may need $60 billion in capital over the next four years to meet upcoming global regulations and to build a buffer against rising bad loans.

5. Tapan Raychaudhuri, a distinguished historian of modern India’s economic and intellectual history, passed away on November 26, 2014.

CURRENT AFFAIRS 27th Nov., 2014
1. SBI Mutual Fund will be launching a Shariah-compliant diversified equity fund which is aimed at attracting investments from the country’s large Muslim population. It will become the fourth fund house in India to have an Islamic equity fund after Goldman Sachs MF, Taurus MF and Tata MF.

2. Credit Information Bureau (India) Ltd. (CIBIL) has sought information from service providers about first time borrowers to bring down the risk of lenders. Also it is planning to collect details about consumer financial discipline with regard to utilities payment such as electricity, water and sewage boards.

3. World Gold Council (WGC) and Indian Institute of Management, Ahmedabad (IIMA) has set up ‘India Gold Policy Centre’ to conduct research on all aspects of the domestic gold industry.

4. The oil ministers of the Organization of the Petroleum Exporting Countries (OPEC) that meet in Vienna are pressing for a one million barrels a day production cut to support falling Brent crude oil prices. The price of Brent crude oil peaked this year at $115.15 a barrel in June and since then prices are down 31per cent to below $79 a barrel.

5. World Trade Organization adopted the first worldwide trade reform in its history. The agreement will introduce new standards for customs checks and border procedures which will streamline the flow of trade around the world. The reform is expected to add as much as $1 trillion and 21 million jobs to the world economy.

6. Biography titled My Name is Abu Salem was released. The Biography on underworld gangster Abu Salem has been written by S Hussain Zaidi and came into a controversy recently.