8/14/2019 changes in agriculture.doc

1/5

RBI announces a number of measures to curb rupee volatility;

Hikes lending rates for banks; To conduct sale of Government

Securities of 12!!! crore rupees"

#rime $inister to discuss %&I'related issues (it) senior *abinet

members today"

$onsoon session of #arliament to begin from t)e +t) of ne,t

mont)"

$yanmar #resident promises to release all political prisoners by t)e end of t)is year"

India bag nine medals including four Gold in International -out)

Bo,ing *)ampions)ips in Serbia"

./00./

In a move to stem the continuing fall of the rupee, the Reserve Bank of India, lastnight, came out with a number of measures, including hiking the lending rates forbanks and sucking up of 12 thousand crore rupees. The measures came afterhigh level meetings between the Prime inister and the !inance inister, followedb" discussions with RBI #overnor $ %ubbarao "esterda".

The rupee had lost && paise to close at '( rupees )( paise "esterda", aftertouching the over *1+level last week.

nder the measures announced, the arginal %tanding !acilit", %! rate has alsobeen increased to 1-.2' per cent from the current ).2' per cent. ccordingl", thebank rate has also been ad/usted to 1-.2' per cent.

%! allows banks to borrow mone" from the central bank at a higher rate when there is significant li0uidit"

crunch.The RBI will conduct the sale of #overnment of India %ecurities of 12 thousand crore rupees on the 1)th of

ul" from the market, in a move to make the rupee dearer.The central bank said, it could take

more measures depending on market conditions, li0uidit" situation and

the macro+economic developments.e spoke to senior economist, a"anto Ro" 3haudhar" on RBI4s measures.

"The Reserve Bank's move last night to shore up the rupee is one of the toughest, which it hastaken since the laymen brothers crisis hit the world financial markets in 200! t increased the

short term lending rates to banks, and it has capped bank borrowings from RB at #$ thousandcrores, additional borrowing can be had at a much higher rates and RB is also trying to suck up

rupees from the market issuing fresh bonds! These are moves which will certainly defend therupee dollar rate for the time being, but in the longer run it is going to hurt lending to ndiancorporates!"

eanwhile, the RBI has imposed fines totaling 5(.' crore rupees on 22 privateand public sector banks, including %BI, P6B and 7es Bank for violating 873 or8now 7our 3ustomer norms. It also gave cautionar" letters to seven, including

3itibank and %tan3hart, following an e9pose made b" an online portal.

./00./

Planning 3ommission $eput" 3hairman ontek %ingh hluwalia has said that the

economic growth in 2-1&+15 is likel" to be better than last "ear4s ' per cent. :esaid this at an event organised b" the Indian Private ;0uit" and

8/14/2019 changes in agriculture.doc

2/5

ssociation in 6ew $elhi "esterda". India4s growth rate slipped to a decade low of' per cent in 2-12+1& due to the global economic slowdown as well as domesticfactors. r. hluwalia said that b" 2-15, the ;uro=one will veer towards positivegrowth. :e also said there has been no change in official estimates of economicgrowth pro/ection for 2-1&+15 so far.

./00./

Prime inister anmohan %ingh will discuss the proposal to hike foreigninvestment caps in sectors like Telecom, Retail and $efence with his senior

3abinet colleagues toda". n official said in 6ew $elhi that the other issue, whichis likel" to figure in the meeting, is the concern raised b" the 3ommerce andIndustr" inistr" on the increasing number of ac0uisitions of domesticpharmaceutical companies b" foreign firms. The $epartment of Industrial Polic"and Promotion has raised concerns over a spate of ac0uisitions of domesticpharma firms b" multinationals.

eanwhile, to clear the backlog of 2 lakh crore rupee railwa" pro/ects that havebeen stuck due to lack of funds for over a decade, Prime inister anmohan

%ingh has approved the constitution of an inter+ministerial group, consisting ofthe finance secretar", Railwa" Board chairman and Planning 3ommission

secretar". The group will come up with a creative financing+cum+implementationmechanism for enhancing investment and clearing the 2 lakh crore rupee backlogin a prioritised manner.

The %teering #roup, formed b" the Prime inister, to accelerate infrastructureinvestments worth three lakh crore rupees, will hold its first meeting on !rida".

./00./

;9pressing its reservation in ad/udicating polic" decisions, the %upreme 3ourt hasobserved that the remed" against #overnment>s polic" decisions lies with thepeople, who can disapprove them during elections while casting their votes. bench of /ustices 38 Prasad and < #opala #owda said, in respect of polic", thecourt has ver" limited /urisdiction. It also said that courts should maintain /udicialrestraint and should not encroach upon the e9ecutive or legislative domain whilead/udicating #overnment>s polic" decisions and should step+in onl" when the" areinconsistent with the 3onstitutional laws.

./00./

The onsoon session of Parliament will begin from the 'th of ne9t month and willcontinue till &-th of ugust. decision to this effect was taken b" the 3abinet3ommittee on Parliamentar" ffairs, headed b" $efence inister 8 nton","esterda". The ordinance on the !ood %ecurit" Bill will come up for ratificationduring the session. ?ther important economic legislations, including @andc0uisition, Insurance, Pension, 3ompanies and $irect Ta9es 3ode Bills are likel"to be taken up for consideration during the session.

./00./

"anmar President Thein %ein has promised to release all political prisoners b"the end of this "ear. The President told this to an audience in @ondon "esterda".

%ein said, he thought a nationwide ceasefire was possible in the coming weeks forthe first time in si9 decades, after the government signed a peace deal aimed atending the final ethnic conflict last month. %ein, who met Prime inister $avid

8/14/2019 changes in agriculture.doc

3/5

3ameron, also said that a special committee is reviewing ever" political prisoner4scase.The President is on a two+da" visit to Britain to talk trade, aid anddemocrac".

./00./

Russian President

8/14/2019 changes in agriculture.doc

4/5

information received, more than 0 per cent voting were recorded in *districts! /riit hakroborty, /R 1&%, 3olkata!"

CDEFEFCD

In ttar Pradesh, an !IR has been lodged against 1'- unknown students,following violent protests against the decision in reservation in the recruitmentsdone b" the ttar Pradesh Public %ervice 3ommission, PP%3. Prohibitor" orders

have also been imposed to maintain law and order. ?ur correspondent reportsthat the PP%3 had recentl" decided to implement the reservation polic" at ever"

stage of PP%3 recruitments including the preliminar", main and interview levels.

./00./

nd now, news from the world of %portsG

"ndia has bagged an unprecedented nine medals, including four 4old, inthe 4olden 4love of .ovodina, an international 5outh bo6ing

hampionship held in 3ikinda, %erbia! /! %ilambarasan in $2kg and+anish %olanki in 78kg bagged the coveted yellow metal in the +en's

section, while Raesh 3umari in 9kg and handa :danshive in $;kg wonthe 4old in the omen's division! uma handedthe 4old medal to the 2*(year old in a glittering ceremony! n the open

section, veteran 4randmaster -ibyendu Barua got the silver medal, while4randmaster +R

8/14/2019 changes in agriculture.doc

5/5

43PI first part" to repl" to RTI 0uer"4, reports the Pioneer, sa"ing that the part"has provided information about its funding, but refused to give out details on thedeliberations and agenda of its meetings.

In what is cause of concern for the rcheological %urve" of India, t)e Times ofIndia reports that repeated paving of roads around the Ta/ ahal has resulted inthe road level becoming higher then the Ta/ fore court thus allowing rain water to

flood the comple9.

?n its front page the sian ge reports, 4Ishrat case G arms appear planted4,

sa"ing that officers investigating the encounter case have made startlingrevelation G that the weapons found on the deceased did not bear an" bloodstains.

nd finall", the Times of Indiaand the sian ge report that the H;arth4s * "eartwitch alters da" lengthH. Periodic /umps generated in the ;arth4s core change thelength of a da" ever" '.( "ears on our planet, a stud" in the niversit" of

@iverpool has found.

./00./

In some more 6ews

The % space agenc" 6% has said, a tin" new moon has been spotted circling6eptune. This will be the 15th known moon to be orbiting the farawa" planet.6% said, the moon is the smallest ever glimpsed around 6eptune and isestimated to be about 12 miles in diameter. Based on observations from the

:ubble %pace telescope, 6% confirmed that the moon is located about *'thousand 5 hundred miles from 6eptune.

./00./