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Current Affairs March 07, 08/2015

March 7, 2015

The govt and RBI- set to consider proposals far, the Formation of a monetary policy committee, which will take decisions such as Interest changes

  • National Payments Corporation of India (NPCI) the umbrella organization for all retail payment in India.
  • “modi’s Four- nation Indian ocean Foray” – was expected to booster India’s relation in the region , and build strategic ties as a possible counter to china’s growing maritime influence
  • Modi cancels mddives trip-
  • ISIS – destroys – Ancient Assyrian archaeological site  in Nimrud in Iraq
  • India vs. Pakistan contentions issue – Sir Geek, siachen, terrorism and kashmir
  • FARC
March 8, 2015
Govt 4 RBI – signed a framework agreement to setup a monetary policy committee, under which parliament would set an Inflation target to RBI, apart  from setting up a separate agency, PDMA ( public debt management Agency)to manage government borrowings and other public debt by amending the RBI Act
-          Present system of regulations the money markets are controlled by the RBI, but mutual funds, who are major players in the money market, are  regulated by SEBI

-          Both those proposals are part of the financial section Reforms commission by N. Sritrishna – submitted in March 2013.

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