Current Affairs For Bank, IBPS Exams - 03 June, 2014

Current Affairs For Bank, IBPS Exams

The Obama administration unveiled a plan to cut carbon dioxide emissions from power plants by nearly a third over the next 15 years, in a sweeping initiative to curb pollutants blamed for global warming.
Under the plan, expected to be finalised next year, carbon emissions would be reduced 30 per cent by 2030, compared to 2005 levels. It is a centerpiece of Obama’s plans to tackle climate change and aims to give the United States more leverage to prod other countries to act when negotiations on a new international treaty resume next year.
But the proposal sets off a complex regulatory process, steeped in politics, in which the 50 states will each determine how to meet customized targets set by the Environmental Protection Agency.
The policy change, which will further diminish the role of coal in U.S. electrical production, carries significant political and legal risks.
Initially, Obama wanted each state to submit their plans by June 2016. But the draft proposal shows states could have until 2017 and 2018, if they join with other states to tackle the problem.

Despite intense pressure and widespread anticipation, the Raghuram Rajan-led Reserve Bank of India (RBI) has decided to keep the policy rate unchanged.
In doing so, it has indicated that it is prepared for a wait-and-watch approach.
Perhaps, it has chosen to await the maiden budget of the Narendra Modi Government at the Centre so as to get a sense of direction of the new fiscal managers.
The Reserve Bank of India (RBI) has kept the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 8.0 per cent. It has also decided to keep the cash reserve ratio (CRR) of scheduled banks unchanged at 4.0 per cent of net demand and time liabilities (NDTL).
However, it has reduced the statutory liquidity ratio (SLR) of scheduled commercial banks by 50 basis points from 23.0 per cent to 22.5 per cent.
The apex bank has also decided to continue to provide liquidity under 7-day and 14-day term repos of up to 0.75 per cent of NDTL of the banking system.
Consequently, the reverse repo rate under the LAF will remain unchanged at 7.0 per cent, and the marginal standing facility (MSF) rate and the Bank Rate at 9.0 per cent.

Helped by healthy growth in electricity, fertilizers, cement and coal, the output of eight core industries increased 4.2 per cent in April, up from 2.5 per cent in the previous month.
The growth of the eight core sector in April, 2013, was 3.7 per cent.
Electricity production increased 11.2 per cent in April this year from 3.5 per cent in the same month last year.
Similarly, fertilizers, cement and coal registered higher growth during the month under review.
Fertilizers, cement and coal recorded a growth 11.1 per cent, 6.7 per cent and 3.3 per cent, respectively, in April, according to the data released by Commerce and Industry Ministry .
Coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electricity sectors had expanded 2.7 per cent in 2013-14. The eight industries have a combined weight of about 38 per cent in the Index of Industrial Production. Steel production increased 3.1 per cent compared with 10.1 per cent in the same month last year. Crude oil, natural gas and petroleum refinery product sectors contracted 0.1 per cent, 7.7 per cent and 2.2 per cent, respectively, in April.

India's top batsman Virat Kohli has won the Ceat International Cricketer of the Year award while off-spinner Ravichandran Ashwin, the fastest player from the country to pick 100 Test wickets, bagged the Indian Player of the Year award for 2013-14.
Left-handed opener Shikhar Dhawan was named the International Player of the Year while Robin Uthappa, who was part of the triumphant Karnataka Ranji Trophy team, clinched the Domestic Cricketer of the Year honour.
Kohli had won the best player award in 2011-12 too. India's under-19 cricketer Vijay Zol got the Young Player of the Year award while yesteryear stumper Syed Kirmani, one of the finest behind the stumps who was also part of the 1983 World Cup winning team, was honoured with the Lifetime Achievement Award. Kirmani played in 88 Tests and 49 ODIs.
Australian Mitchell Johnson, who was instrumental in his country winning the Ashes Series in overwhelming fashion against England at home, and compatriot Glenn Maxwell received the Test Player of the Year and Popular Choice awards respectively, while Bangladesh all-rounder Shakib Al Hasan got the T20 Player of the award