Raghuram Rajan Appointed as Vice Chairman of Bank for International Settlements
1.Reserve Bank of India Governor Raghuram Rajan, a vocal advocate of increased emerging market participation in global policy debate, was appointed as vice chairman of the Bank for International Settlements (BIS) .
2.Dr Rajan was appointed to a three-year term, India’s central bank said in a statement. He first joined the BIS board of directors in December 2013.
Terror, Economic Crisis to Figure in BRICS Leaders Meet: China l
1. International terrorism and slow recovery of the global economy will figure in BRICS leaders meeting on the sidelines of the G20 meeting in Turkey later this week to be attended by Prime Minister Narendra Modi and Chinese President Xi Jinping.
2.While the two leaders will be attending the Brazil, Russia, India, China, South Africa (BRICS) meeting to work out a joint stand on the G20 leaders meeting, it is not clear yet whether PM Modi and President Xi would have a bilateral meeting on the sidelines of the two summits.
Government Announces FDI Reforms in 15 Major Sectors
1.Government has eased foreign direct investment norms in 15 major sectors, including mining, defence, civil aviation and broadcasting, the government said on Tuesday, in a bid to drum up investment and speed growth.
2.The government also increased the financial power of the Foreign Investment Promotion Board to give single window clearance for investment projects of up to Rs 5,000 crore ($753.35 million), from Rs 3,000 crore.
India’s Fiscal Deficit to Reduce to 3.7% of GDP by FY18: Deutsche Bank
1.India’s fiscal deficit is likely to reduce to 3.7 per cent of GDP by financial year 2017-18 and the consolidation process would be gradual, global financial services major Deutsche Bank has said in a report.
2.It will be an uphill task to reduce the headline fiscal deficit to 3 per cent of GDP by FY18, unless such consolidation is supported by a strong pick-up in revenue, particularly tax revenue.
Indian E-Commerce Market to Touch $200 Billion GMV by 2025
1.India’s e-commerce market is expected to witness significant uptrend in the coming years and touch $200 billion in terms of gross merchandise value (GMV), says a Bank of America Merrill Lynch report.
2.We estimate 2025 GMV now to be 10 per cent higher at $220 billion,” BofA-ML said in a research note, adding that “the faster and reliable 4G networks (due to higher capex by telco operators) would help accelerate online sales.
Raghuram Rajan Appointed as Vice Chairman of Bank for International Settlements
1.Reserve Bank of India Governor Raghuram Rajan, a vocal advocate of increased emerging market
participation in global policy debate, was appointed as vice chairman of the Bank for International Settlements (BIS) .
2.Dr Rajan was appointed to a three-year term, India’s central bank said in a statement. He first joined the BIS board of directors in December 2013.
3.He will work with BIS Chairman Jens Weidmann, who is also president of Germany’s Bundesbank.
Terror, Economic Crisis to Figure in BRICS Leaders Meet: China
1. International terrorism and slow recovery of the global economy will figure in BRICS leaders meeting on the sidelines of the G20 meeting in Turkey later this week to be attended by Prime Minister Narendra Modi and Chinese President Xi Jinping.
2.While the two leaders will be attending the Brazil, Russia, India, China, South Africa (BRICS) meeting to work out a joint stand on the G20 leaders meeting, it is not clear yet whether PM Modi and President Xi would have a bilateral meeting on the sidelines of the two summits.
3.The two-day G20 leaders meeting will be held in Antalya, a famous Turkish beach resort, from November 15.
Government Announces FDI Reforms in 15 Major Sectors
1.Government has eased foreign direct investment norms in 15 major sectors, including mining, defence, civil aviation and broadcasting, the government said on Tuesday, in a bid to drum up investment and speed growth.
2.The government also increased the financial power of the Foreign Investment Promotion Board to give single window clearance for investment projects of up to Rs 5,000 crore ($753.35 million), from Rs 3,000 crore.
