current government vacancies in india Employment News 27 November 2013

RBI to launch CPI-indexed bonds soon

The Reserve Bank of India today said that it will launch CPI-indexed bonds aimed at protecting the savings of retail investors from the impact of price rise by the end of next month.

RBI Deputy Governor H.R. Khan said : “Guidelines will be out soon...We are likely to launch the first tranche before end of December. We will come out with details (quantum),”

This year it should be between Rs 10,000-15,000 crore (wholesale price and consumer price indexed bonds) but exact amount will come out. This is part of overall borrowing programme,” he said.

RBI in its policy statement last month had said that inflation-indexed securities for retail investors of 10-year tenor would be linked to the new (combined) consumer price index.

Interest would be compounded half-yearly and paid cumulatively on redemption, according to the statement.

Iran and world powers reach interim deal on nuclear program

An interim agreement has been reached between six world powers and Iran that calls on Tehran to limit its nuclear activities in return for sanctions relief from international trade and financial sanctions.

The goal for these negotiations is to reach a mutually-agreed long-term comprehensive solution that would ensure Iran's nuclear program will be exclusively peaceful.

The Geneva deal releases just over $4bn in Iranian oil sales revenue from frozen accounts, and suspends restrictions on the country's trade in gold, petrochemicals, car and plane parts.

In return, Iran undertakes to restrict its nuclear activities. Over the next six months it has agreed to:

stop enriching uranium above 5%, reactor-grade, and dilute its stock of 20%-enriched
not to increase its stockpile of low-enrichment uranium.

freeze its enrichment capacity by not installing any more centrifuges, leaving more than half of its existing 16,000 centrifuges inoperable.

accept more intrusive nuclear inspections by the International Atomic Energy Agency, including daily visits to some facilities.

RBI widens infrastructure sector lending sub-category

Reserve Bank today widened the definition of infrastructure lending including hotels with project costing more thanRs. 200 crore as well as convention centres with project worth Rs. 300 crore.

The government has further updated the harmonized master list...the new sub-sectors have been added in the list. Hotels with project cost of more than Rs. 200 crore each in any place in India and of any star rating. Convention centres with project cost of more than Rs. 300 crore each," RBI said in a notification.

RBI said that the new sub-sectors will get classified as 'infrastructure' for the purpose of lending by banks and select All India Term-Lending and Refinancing Institutions from the date of this circular.

Various sub-sectors under the categories such as Transport, Energy, Water & Sanitation, Communication, Social and Commercial Infrastructure come under infrastructure lending.

YES Bank signs multi-year deal with Hockey India League

YES BANK, India’s fourth largest private sector bank, today signed a multi-year deal with the Hockey India League (HIL) commencing with the 2014 season.

YES BANK to mobilise sports innovation and infuse positive energy into hockey.”

Rana Kapoor, Managing Director & CEO, YES BANK, said, “We are extremely pleased to associate with HIL.

S ix franchise teams will feature in the second season of the HIL to be held from January 25 to February 23.

The League will be an opportunity for 144 leading players to showcase their skills in 34 matches at six different venues.

New India launches combination product for lower income groups

 Largest general insurer New India Assurance today said it has come up with a combination product for lower income groups that will have life, medical and accident covers among others.

We are launching a product for the lower income population, like domestic helps, with an annual premium of Rs 800.

This plan will offer life cover of Rs 1 lakh to the family in case of death, critical illness and other hospitalisation costs under Rs 20,000-30,000.

The plan also offers accident cover,” New India Assurance Company chairman and managing director G Srinivasan told an industry summit organised by the IMC here.

India is the 10th largest life insurance market globally and 19th in the general insurance space.

India ahead of US, China as best investment destination: Ernst Young

India has spurted ahead of China and the US as the most attractive investment destination, a survey by global professional services firm Ernst & Young (EY) says.

The top three investing countries into India are the US, France and Japan.

Foreign Direct Investments (FDI) from the US, France and Japan during the period April 2000 to August 2013 amounted to Rs. 53,673 crore, Rs. 17,718 crore and Rs. 71,870 crore, respectively.

According to EY, global executives’ sentiments have improved, specifically regarding plans for acquisitions and deals, and are at a two-year high with credit and cash available for deals.

With sharp currency depreciation and opening up of FDI in various sectors, India has become an attractive destination for foreign investors,” the EY report said.

Talwar gets life imprisonment in Aarushi murder case

CBI on Tuesday pressed for maximum punishment of death for dentist couple Rajesh and Nupur Talwar, a day after they were convicted of killing their daughter Aarushi and domestic help Hemraj five-and-a-half years ago.

Arguing before Additional Session Judge Shyam Lal on quantum of punishment for Talwars, CBI counsel R K Saini submitted that the killing was a cold-blooded murder and fell in the "rarest of rare" category, defence counsel Satyaketu Singh told reporters.

Rajesh and Nupur Talwar were yesterday convicted in the sensational double murder of their 14-year-old daughter Aarushi and Hemraj by the court.

After a 15-month trial, Judge Shyam Lal held the Talwar couple guilty of destruction of evidence in the murder on the intervening night of May 15 and 16, 2008, days before the birthday of the class nine student in their residence in Noida.

India and Malaysia Signed MoU to boost co-operation in Public Administration

India and Malaysia signed a Memorandum of Understanding (MoU) on 25 November 2013 to strengthen co-operation in public administration and governance as part of the efforts to enhance their strategic partnership.

The MoU covers eight areas of co-operation including human resource management, e-governance, public delivery system, accountability and transparency, skills and capacity building and quality results.

The MoU envisages cooperation via tours, workshops and conferences, sharing of public administration and governance information and expertise, common project implementation mechanisms and exchange of publications, state.