Good Morning! News 3.12.2014 1. Reserve Bank of India (RBI) Governor Raghuram Rajan on Tuesday held interest rates steady but held out hope for industry by saying the central bank could ease monetary policy early next year — even outside the policy review cycle — if the downward momentum in inflation continued and fiscal developments were encouraging. 2. With the economy seemingly close to turning around, aided by a pro-reforms government at the Centre, leading bankers have said they are ready to fund growth, though investment in new projects could take another 12 months. 3. The government on Tuesday raised excise duty on petrol by Rs 2.25 a litre and diesel by Rs 1 a litre, the second such increase in three weeks. The step, announced with immediate effect, will help the government raise an additional Rs 4,000-4,500 crore in the remainder of this financial year. 4. The Union cabinet on Tuesday cleared a strong anti-hijacking Bill that provides for stringent punishment, including the death penalty, for the hijack of Indian airplanes, 15 years after an Indian Airlines aircraft was commandeered by terrorists during the tenure of a previous Bharatiya Janata Party-led (BJP-led) government. 5. Property portal Housing, launched in 2012 by a group of IIT-Bombay graduates, was in the thick of things on Day One of the placements at India’s premier engineering institutes, adding another 120 IITians to its rolls.With this, the total number of IITians working in the firm will rise to 300 or a fifth of its total headcount. 6. Russia is entering its first recession since 2009 as sanctions over the Ukraine conflict combine with plunging oil prices and the weakening ruble to hammer the economy and force the government to prop up banks.
Posted on: Wed, 03 Dec 2014 03:57:30 +0000
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