September 6 Current News 2013

September 6 Current News 2013 , Gk Current News 2013

RBI allows cash withdrawal of upto Rs 1,000/day via prepaid cards

Reserve Bank today allowed cash withdrawals of up to Rs 1,000 a day through prepaid cards, including gift cards, issued by banks from point of sale terminals, a move aimed at enhancing customer convenience in using plastic money.

The Reserve Bank said the open system prepaid payment instruments (PPIs) issued by banks is perceived to be a subset of debit cards.

Yesterday, RBI's newly appointed Governor Raghuram Rajan said that holders of pre-paid instruments issued by non-bank entities are not allowed to withdraw cash from the outstanding balances in their pre-paid cards or electronic wallets.

In 2009, the RBI had permitted cash withdrawals at POS terminals through debit cards as a step towards enhancing the customer convenience in using the plastic money.

2-day Leader's Summit of G-20 begins in Russia

The two-day summit of the Group of Twenty (G-20) has begun at St. Peters burg in Russia on Thursday (September 5).

The summit will focus on issues pertaining to the economic growth throughout the developed world.

The G-20 is the leading international cooperation forum‚ focusing on the most important international economic and financial issues.

The summit in St Peters burg comes against a backdrop of frosty relations between the US and Russia over Syria and other issues such as whistle blower Edward Snowden.

A planned one-on-one meeting ahead of the G20 between President Obama and Russian President Vladimir Putin was scrapped when it became clear the pair would not find common ground over the alleged chemical attacks.

Emerging economies in the Brics - Brazil, Russia, China and South Africa - are divided over the role of the U.S. dollar in the world economy.

Puducherry new Industrial Policy

Puducherry government has rolled out new industrial policy to promote pollution free, less water intensive and employment oriented sustainable industrial growth in the Union Territory.

The policy had been framed to promote industrial growth in the context of overall economic development of the Union Territory and it seeks to achieve industrial growth rate of seven percent per annum with manufacturing sector contributing sixty percent share to the Gross State Domestic Product (GSDP).

New policy seeks to establish an investment friendly climate through transparent and proactive governance and ensure balanced and sustainable industrial development in all the four regions of Puducherry, Karaikal, Mahe and Yanam while conserving all aspects of environment. 

The policy has identified thrust areas which include textiles and garments electronic industries among other units. IT hardware and software and IT enabled services, alternative and renewable energy products and bio technology based industries.

Deepak Sandhu takes oath as new CIC

President Pranab Mukherjee on Thursday administered oath of office to Deepak Sandhu who became the first woman Chief Information Commissioner of the Central Information Commission. 

A former Indian Information Service officer of 1971 batch, Sandhu has served at many key positions like Principal Director General (Media and Communications) Press Information Bureau, Director General DD News, Director General (News) All India Radio before taking over as Information Commissioner in 2009. 

Sandhu will succeed Satyananda Mishra who demitted office after five-years of tenure at the Commission yesterday during which he headed the Bench which declared political parties to be under the ambit of the RTI Act. 

She represented the country at international Film Festivals in Cannes, Berlin, Venice and Tokyo, International Conference on Terrorism and Electronic Mass Media at Glendzhik (Russia) and Cyprus besides Heads of News Meetings at Atlanta, USA and Beijing. 

The 64-year old officer is joining office for a relatively smaller tenure of nearly three months in which her biggest challenge would over 30,000 pending cases with the Commission. 

Yahoo adopts new logo

Yahoo has adopted a new logo for the first time since shortly after the Internet company's founding 18 years ago.

The redesigned look unveiled late on Wednesday is part of a makeover that Yahoo Inc. has been undergoing since the Sunnyvale, California, company hired Google 

executive Marissa Mayer to become Yahoo's CEO 14 months ago.

The logo was shown both with purple letters and in white with a purple background spelling out the word Yahoo!, with no letters touching and ending with an exclamation point.

Mayer's overhaul of Yahoo has attracted a lot of attention, but so far it hasn't provided a significant lift to the company's revenue. Yahoo depends on Internet advertising to make most of its money, an area where the company's growth has been anemic while more marketing dollars flow to rivals such as Google Inc. and Facebook Inc.

New RBI Governor announces steps to strengthen monetary policy

New RBI Governor Raghuram Rajan has announced the setting up of few committees to look into critical areas of functioning, like monetary policy and screening of applications for licences to open new bank branches. 

In his maiden press conference in Mumbai last evening, Rajan announced an external committee, under the chairmanship of former Governor Bimal Jalan, to screen applicants for new bank licences, from January next year.

Mr.Rajan also announced a committee, headed by his deputy Urijit Patel, to strengthen the monetary policy framework.

On the personal banking front, Rajan announced a technical committee to examine the feasibility of using encrypted SMS-based fund transfer. He said, the Reserve Bank will introduce consumer price inflation-linked savings certificates by November to provide some cover to households.

Bajaj Hindusthan appoints Anand Kumar Kanodia as the new CFO

country's largest sugar firm Bajaj Hindusthantoday appointed Anand Kumar Kanodia as the new Chief Financial Officer (CFO---

Kanodia will replace Manoj Maheshwari, who will continue as a whole-time director of the company in new role as Director and Group CFO, it said.

The company also said that its Board has approved the extension of current financial year by six months till March 31, 2014 instead of September 30, 2013.

Bajaj Hindusthan has 14 sugar plants in Uttar Pradesh with a sugarcane crushing capacity of 136,000 TCD (tonnes crushed per day) and a distillery capacity to produce 8 lakh litres of alcohol a day