RBI keeps key rates unchanged
In
it’s fifth bi-monthly monetary policy statement, the Reserve Bank of
India (RBI) on 1 December, 2015 kept key rates-repo and CRR unchanged.
RBI Governor Raghuram Rajan left the benchmark interest rate, the repo
rate unchanged at 6.75 per cent and the CRR at 4 per cent. RBI set to
achieve its target of getting inflation down at 6 per cent by January
and is aiming to reduce the number further to 5 per cent by March 2017.
China’s Yuan approved as Elite Reserve Currency
International
Monetary Fund (IMF) on 30 November, 2015 included China’s Yuan into
it’s elite reserve currency. The entry of Yuan as reserve currency takes
effect from 1 October, 2016. Yuan will be a freely usable currency and
will be included as a fifth currency, along with the US Dollar, Euro,
Japanese Yen amd British Pound.
Modi in eighth place in Time’s Person of the Year Poll
Prime
Minister Narendra Modi is currently among the top 10 people in the Time
magazine’s Person of the Year reader’s choice poll. Democratic
Presidential candidate Bernie Sanders (10.5 %) continues to lead the
poll, Modi with a vote share of 2.7 % was in eighth place. While
Pakistani activist Malala Yousafzai (5.9 %) was in second place and Pope
Francis (3.9 %) in third place.
India ranks 131 in ICT Development Index
India
has been ranked 131 out of 167 nations on ICT Development Index (IDI)
that measures the level of information and communication technology
access. The International Telecommunication Union (ITU) on 30 November,
2015 released the Measuring the Information Society Report 2015. The
report captures the level of ICT developments in 167 economies worldwide
and compare progress made since the year 2010. South Korea topped the
list followed by Denmark (2) and Iceland (3) respectively. India was
placed at 131 position in the overall ranking. In 2010 India is at 125th
rank.