Current Affairs For Bank, IBPS Exams - 18 June, 2015
Current Affairs for BANK, IBPS Exams
18 June 2015
Ad Council launches mobile app for consumer complaints
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Advertising Standards Council of India (ASCI), the self regulatory body for content in Indian advertising, has launched the country’s first consumer complaint mobile app — ASCIonline.
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The app is part of ASCI’s effort to address the issue of misleading advertisements.
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The role of ASCI and its Consumer Complaints Council (CCC) was to deal with complaints received from consumers and industry against advertisements which are reported to be false, misleading, indecent and illegal, leading to unfair practices.
::Economy::
CEA questions RBI’s policy stance, says real rates too high
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Making a strong case for reduction of policy rates by the Reserve Bank of India (RBI), Chief Economic Advisor Arvind Subramanian has said the real interest rates are ‘whoppingly’ very high and have made it difficult for corporate to deal with the problem of high debt.
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“Real policy rates have diverged significantly for consumers and producers, and are unusually high for the latter. For producers, high real rates must also be seen against their balance sheet problems,” he said in an article in VOX CEPR’s Policy Portal.
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The RBI under present Governor Raghuram Rajan took into account the inflation based on Consumer Price Index (CPI) and primarily focused on keeping price rise under check.
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The RBI, however, has reduced the policy interest rate by a total of 0.75 per cent in three tranches since January.
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The repo rate at present is 7.25 per cent. The real interest, which is policy rate minus inflation, varies widely after taking into account price rise based on CPI and GDP deflator.
::Science::
World’s thinnest light bulb created
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Researchers have created the world’s thinnest light bulb using grapheme (an atomically thin and perfectly crystalline form of carbon) instead of tungsten as a filament.
::India & world::
India stresses on petroleum pricing reforms at G20 meet
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Railway Minister Suresh Prabhu, who has gone to Turkey as 'Sherpa' of Prime Minister Narendra Modi to attend the G-20 meeting, sought reforms in petroleum pricing and transparency in global gas markets to ensure price stability in the international market.
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'Sherpa' is a senior official responsible for preparing the agenda for leaders to consider during the G-20 summit.
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G-20 is a grouping of major advanced and emerging economies, representing around 85 per cent of global GDP.
::Sports::
Sharad Pawar re-elected MCA chief
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NCP chief Sharad Pawar was elected president of the Mumbai Cricket Association for a seventh two-year term at the elections held here on Wednesday.
