Current Affairs For Bank, IBPS Exams - 26 November, 2013

Current Affairs For Bank, IBPS Exams

Neeraj Sahai, 56 a top Indian-American executive at Citigroup has been appointed president of Standard & Poor's Ratings Services, the world's largest ratings firm.
Sahai, who did his master's in economics from the University of Delhi, is currently head of Citi's Securities and Fund Services business and also acts as chief fiduciary officer of Citigroup.
He would succeed Douglas Peterson, who became president and chief executive officer of McGraw Hill Financial on November 1. Peterson has taken over as chief executive of the parent company earlier this month.
Sahai has significant experience serving global capital markets. His insights, leadership and background in driving growth, as well as in risk, control and governance will be enormously valuable to Standard & Poor's Rating Services, to market participants and to credit markets.
He added that as debt markets expand around the world to finance the increasing demand for development and infrastructure projects, S&P and its 1,400?analysts would offer globally comparable measures of relative credit risk.
Standard & Poor's Ratings Services, part of McGraw Hill Financial, is the world's leading provider of independent credit risk research.
It publishes more than a million credit ratings on debt issued by sovereign, municipal, corporate and financial sector entities.
McGraw Hill Financial's brands include the Standard & Poor's Ratings Services, S&P Capital IQ and S&P Dow Jones Indices.

State miner Coal India Limited (CIL) has identified 126 new projects with an estimated capacity of 438.04 million tonnes (MT) to be taken up during 12th Plan period.
CIL has proposed an outlay of Rs.25,400 crore in the 12th plan period, in addition to an ad-hoc provision of Rs.35,000 crore to acquire coal assets abroad and develop the coal blocks acquired in Mozambique.
Other CIL initiatives planned to increase coal production include the public-private partnership MDO (Mine Developer and Operator) mode of operation, already initiated in seven projects and appointing a consultant of international standing for the modernization of its mines.
Coal India's first tender for coal import is likely to be for about 15 MT. CIL had earlier said that about 55 to 60 power plants, including some state power utilities, have indicated they want imported coal from the state miner.

Yes Bank signed a multi-year deal with the Hockey India League(HIL) commencing with the 2014 season.
HIL chairman Narinder Batra said the association with Yes Bank is a fantastic, long-term partnership for the League.
Rana Kapoor, managing director & CEO, Yes Bank, said they are fully committed to the growth and development of India's most participative sport - hockey.

Nissan Motor Co. will sell vehicles under its resurrected Datsun brand in India directly via dedicated dealerships, a shift in its marketing strategy wherein it uses an independent company to sell its own brand of vehicles.
The Japanese auto maker is the only company in India that doesn't market cars on its own. It uses Hoover Automotive India Pvt. Ltd. as its exclusive distributor to sell its vehicles across the country, provide after-sales support and develop a dealer network.
Nissan unveiled the revived Datsun brand in July. The first car from the Datsun stable will be the Datsun GO that will go on sale in India from early 2014. The car will cost less than 400,000 rupees ($6,420) and will be powered by a 1.2-liter gasoline engine.
The Datsun GO is the first model in a line of low-cost vehicles developed for emerging markets such as India, Indonesia, Russia and South Africa that also includes a van in the lineup. Nissan is banking on the Datsun brand to help it capture 10% of the Indian market by 2016 from 1.2% currently.
The Datsun cars will be built at a factory outside the southern port city of Chennai. Nissan produces the Terrano sport-utility vehicle, the Micra subcompact hatchback, the Sunny compact car and the Evalia van at the same factory, which is a joint venture with Renault SA of France.
Nissan also assembles the Teana premium sedan from imported parts at the same plant. It also imports the X-Trail SUV and the 370Z sports car in India.