Current Affairs India - 30 December 2013

1. The Reserve Bank has ruled out any major impact on domestic markets by the US Fed's tapering its monthly bond-buying programme from later this week. The apex bank said that India's external sector has improved with reduction in Current Account Defecit, CAD and a pick up in exports.

In its 8th Financial Stability Report released today, it said that the external sector risks have been reduced considerably and the effect of the tapering on the economy is expected to be limited and short-lived. RBI Governor Raghuram Rajan warned on the high inflation as a hurdle for easy money policy and has also warned against the rising tide of bad loans saying risks to the banking system have increased since June this year.

2. Delhi Jal Board will provide 20 kilo litres water per month free of cost to every household in the city from 1st January 2014. A decision in this regard was taken at the Board meeting chaired by Chief Minister Arvind Kejrwial in Koshambi, Ghaziabad this evening. Briefing reporters after the meeting, Jal Board CEO, Vijay Kumar said that the benefit will be provided to the people who have functional water meter. He, however, said that the household using more than 20 kilo litres water per month will be charged for the entire consumption.

3. The Reserve Bank of India (RBI) has set up a panel to review the current system of data collection, dissemination and data management processes in the central bank and improve the existing mechanism. The 15-member committee will be headed by the executive director Deepak Mohanty and it will review the availability, coverage, frequency, timeliness and quality of the existing data/surveys/information used for monetary policy, macro-financial policy and supervision.

4. P Pradeep Kumar was appointed as the Managing Director (Corporate Banking) of State Bank of India (SBI) yesterday. As one of the four managing Directors, he will look after the corporate banking portfolio of the bank till the end of October 2015.