Current Affairs For Bank, IBPS Exams - 26 June, 2014

Current Affairs For Bank, IBPS Exams

The Centre extended by three months the deadline by which States should roll out the National Food Security Act that provides for distribution of concessional foodgrains to 75 per cent of identified beneficiaries.
Under the Act, States were given time till July 4 to implement the Act but so far only five states have begun to roll out the scheme while six others are “in the process.”
To discuss the Act’s rollout and the problems faced by the States, the Centre has called a meeting of Food Ministers on July 5. The meeting will also discuss steps that States should take to check hoarding and tackle inflation.

Adverse growth-inflation setting that has obtained over the last two years is posing a major challenge to economic recovery, said the Reserve Bank of India (RBI). It, however, conceded that the moderation in consumer price inflation and reduction in twin-deficits had provided some breather.
The RBI said formation of a stable government at the Centre had made the prospects of economic recovery appear bright. However, it felt that supply-side constraints needed to be addressed to complement its efforts to contain inflation expectations. The RBI made these observations in the Financial Stability Report June 2014, the ninth issue of the half-yearly publication.

BCCI president-in-exile N. Srinivasan was formally appointed the first Chairman of the ICC after its 52-member council approved a controversial revamp of the body’s administrative structure.
The full council approved the amendments to the ICC’s Memorandum and Articles of Association at the Annual Conference.

Tata-led South African telecoms operator Neotel has secured a ground breaking deal with the State Information Technology Agency (SITA) and the Western Cape provincial government to provide broadband services across the province over the next three years.
The project is a first-of-its-kind in South Africa, and has strict guidelines to deliver sites and service levels in a true public-private partnership, by leveraging the skills, resources and expertise of each party for the provision of broadband services across the Province.

L&T Technology Services, a wholly-owned subsidiary of Larsen & Toubro (L&T) said it had bought 74 per cent stake in Thales Software India, the Indian subsidiary of Thales, the global technology leader in aerospace, transportation and defence and security markets, for an undisclosed amount.
By retaining 26 per cent equity stake, Thales will help the company develop the latest trends in the avionics industry, one of its core businesses.