RBI extended deadline for exchanging pre-2005 currency notes by 6 months
(ii) RBI in an official statement said that the notes can be exchanged for their full value. It has also clarified that all such notes continue to remain legal tender.
(iii) Soliciting cooperation from members of public in withdrawing these banknotes, it also urged them to deposit the old design notes in their bank accounts or exchange them at a bank branch convenient to them.
(i) The Reserve Bank of India (RBI) decided to allow Authorised Dealer Category I (AD Category-I) Banks to borrow foreign currency from International/Multinational Financial Institutions (IFIs/MFIs).
(ii) In this regard, a notification was issued by the RBI on 25 June 2015.
(iii) Earlier, AD Cat-I Banks were allowed to borrow from IFIs/MFIs for a short period in 2013 with prior permission from the RBI on a case-by-case basis.
(iv) In contrast, as per the recent notification, the banks can borrow without any such prior approvals from the RBI.
(v) However, these shall include only those IFIs in which the Government of India is a shareholding member or which have been established by more than one government or have shareholding by more than one government and other international organizations.
Satnam Singh becomes the first Indian to be picked for NBA
(ii) Satnam Singh was selected amongst the 60 young men who will play basketball in the NBA next season.
(iii) Gursimran “Sim” Bhullar was the first player of Indian origin to play in the NBA when he turned out for the Kings in three games in April.
RBI released Financial Stability Report June 2015
(i) The Reserve Bank of India (RBI) on 25 June 2015 released the Financial Stability Report (FSR) June 2015. It is the eleventh issue of its half yearly publication.
(ii) The FSR reflected the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on risks to financial stability, as also the resilience of the financial system. Besides, the report discussed issues relating to development and regulation of the financial sector.
Google's new self-driving cars cruising Silicon Valley roads
(ii) This marks the first time that the pod-like, two-seat vehicles have been allowed on public roads since Google unveiled the next generation of its self-driving fleet more than a year ago.
(iii) The cars had previously been confined to a private track on a former Air Force base located about 120 miles southeast of San Francisco.
Former Russian PM Yevgeny Primakov dies at 85
(i) Former Russian Prime Minister Yevgeny Primakov, whose career included journalism, diplomacy and spycraft, has died at age 85.
(ii) The Kremlin said on Friday that President Vladimir Putin has offered condolences to Primakov’s family. The cause of death wasn’t immediately known.
(iii) Primakov was more influential at home, and in 1999 was widely seen as a likely successor to Boris Yeltsin as President, before being undermined by negative television coverage orchestrated by supporters of Mr. Putin.
BRICS bank to start by April
(ii) The bank would introduce capital market products and would be open for equity infusion.
(iii) Mr. Kamath, former Chairman of ICICI Bank and Infosys Ltd., will take over as the head of the multilateral development institution in July at Shanghai in China.
(iv) “An important aspect will be with regard to the speed of lending. Currency diversification will be kept in mind while funding.
(v) There will be no pro-rating for funding and assistance will be provided to founding-countries as well as member-countries,” he said.
PM Narendra Modi to launch Digital India programme on July 1
(ii) While Modi will present the government's roadmap for digitising India, four industry leaders will make brief remarks on their idea of taking digital revolution to the masses.
(iii) The government had last year approved the Digital India programme comprising various projects worth over Rs 1 lakh crore to transform the country into a digitally empowered knowledge economy.
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