Current Affairs For Bank, IBPS Exams - 18 February, 2014

Current Affairs For Bank, IBPS Exams

Chinese demand for gold bars, coins and jewelry soared by 32% to record levels in 2013, even as the price of gold slumped 28%.
The surge in buying saw China overtake India as the world's top consumer of physical gold, importing 1,066 metric tons of the metal to India's 975 metric tons in 2013, according to new data from the World Gold Council. (A metric ton is equal to about 2,240 pounds.)
In India, consumption increased by 13% but further growth was curbed by import restrictions aimed at narrowing the country's current-account deficit. The council estimates around 200 metric tons was smuggled into the country.
China's lead over India as the world's top importer is likely to be sustained.

The Interim Budget has some good news and some bad for consumers. Two-wheelers and cars will be cheaper while low-end mobile phones will be a bit more expensive due to changes in excise duty.
Auto-makers, including Tata Motors, Hyundai, Maruti Suzuki and Honda Cars India, have already announced that they would be passing on the benefits of the excise duty cut to the consumer.
Mobile phones that cost less than Rs. 2,000 are set to cost more after Mr. Chidambaram’s decision to levy a uniform excise duty on phones across price bands.

With an eye on the country’s youth bulge, Union Finance Minister P. Chidambaram has proposed a moratorium period for all education loans taken up to March 31, 2009, and outstanding at the close of the 2012-13 fiscal. However, such student-borrowers – estimated to be in the vicinity of nine lakh -- would have to pay interest for the period beginning January 1, 2014.
Of the view that such students ``deserve some relief’’, the Minister said Rs. 2,600 crore would be set aside in the current financial year itself for the purpose. This will be transferred to Canara Bank which is the designated banker for the Central Scheme for Interest Subsidy (CSIS).
Dwelling at some length on the CSIS with respect to education loans, Mr. Chidambaram said the Government had introduced this in the 2009-10 Budget to take over the burden of interest for the duration of study and a little beyond from April 1, 2009.

New Zealand's 680 for 8 declared provides the highest ever total posted by a team in the third innings of a Test match in the annals of Test cricket. The previous best was 671 for 4 by New Zealand against Sri Lanka at Wellington in Jan 1991. Here are some of the other statistical highs that New Zealand team and its players achieved during the two-match series against India.
Brendon McCullum became the first captain in the annals of Test cricket to score a triple hundred and a double hundred in consecutive Tests. He made 224 at Auckland and 302 at Wellington .
McCullum aggregated 535 runs in this series which is the record for most runs scored by a captain in a two Test series. The previous record was 510 runs scored by Mahela Jayawardene of Sri Lanka against South Africa in 2005 series. McCullum and Jayawardene are the only two captains to aggregate 500 plus runs in a two Test series.

India has retained its second position on the Reliance ICC Test Team Rankings following the Wellington Test, which ended in a draw to give New Zealand a 1-0 series win, but the series result has made Australia's task of finishing ahead of India on the table before the 1 April cut-off date slightly easier.
India has slipped from 117 ratings points to 112 ratings points, and is ahead of Australia by just one ratings point. This means Australia, which leads South Africa 1-0 in the three-Test series, now needs minimum of a draw in the series to move ahead of India.