BRICS Bank

The leaders of the BRICS nations have pulled off a coup of sort in announcing the establishment of a New Development Bank (NDB) with an initial subscribed capital of $50 billion. Significantly, they have chosen to share the capital equally among them. The capital base is to be used for funding infrastructure and “sustainable development” projects in the BRICS countries initially. Other low and middle-income countries will be able buy in and apply for funding subsequent as time progresses. They have also created a $100 billion Contingent Reserve Arrangement (CRA). This is to provide additional liquidity protection to member-nations during balance of payments problems. The CRA, however, is being funded 41 per cent by China, 18 per cent each from Brazil, India, and Russia, and 5 per cent from South Africa. CRA, according to the Declaration, is “a framework for the provision of currency swaps in response to actual or potential short-term balance of payments pressures.’’ 

Source : The Hindu

Hello,

Look at the highlights of Indian Railway Budget.

http://www.indianrailways.gov.in/railwayboard/view_section.jsp?id=0,1,304,366,539

Rupee up 16 paise against dollar in early trade

The rupee edged higher by 16 paise to an over two-week high of 59.53 against the U.S. dollar at the Interbank Foreign Exchange market on Thursday on increased selling of the U.S. currency by exporters amid capital inflows. Forex dealers said a higher opening in the domestic equity market and strengthening of the euro against the U.S. dollar overseas also supported the rupee. 

The rupee appreciated by 38 paise — its biggest single-day rise in seven weeks — to close at 58.69 in Wednesday’s trade on optimism that the budget next week would have strong measures to put finances and the economy back on track.Meanwhile, the benchmark BSE Sensex climbed to yet another record-high of 25,924.25, rising 83.04 points, or 0.32 per cent, in early trade on Thursday.

Source : http://www.thehindu.com/business/markets/rupee-up-16-paise-against-dollar-in-early-trade/article6172692.ece

Sensex hits new high of 25,924.25; Nifty reaches 7,751.75

The benchmark BSE sensex gained over 83 points to hit another record-high of 25,924.25 in opening trade on Thursday on strong rally in FMCG, metal, consumer durable, PSUs and oil & gas stocks amid sustained capital inflows.

Hitting a new peak for the second straight session, the 30-share barometer surged 83.04 points, or 0.32 per cent, to trade at 25,924.25, surpassing its previous intra-day high of 25,864.53 reached yesterday. 

Source : Times of India

PSLV-C23 puts SPOT-7, other satellites in precise orbits

India’s Polar Satellite Launch Vehicle (PSLV-C23) successfully put on Monday five satellites from abroad into their perfect orbits. This was the 27th PSLV launch and of these 27 lift-offs, 26 have been successful in a row, demonstrating what a reliable and robust launch vehicle the PSLV is.

It was a dedicated commercial launch in which the PSLV put into orbit SPOT satellite from France, AISAT from Germany, NLS7.1 and NLS7.2, both from Canada, and VELOX-1 from Singapore. Antrix, the commercial wing of the Department of Space, will be charging a fee for putting each of these satellites into orbit. 

Source : http://www.thehindu.com/news/national/pslvc23-puts-spot7-other-satellites-in-precise-orbits/article6162877.ece

Calender of events for the academic year 2014-15

Hello,

Find the revised calender of events for the academic year 2014-15.

https://www.karnataka.gov.in/BangaloreUniversity/Documents/UG_CALENDAR_OF_EVENTS.pdf

Regards
Raveesh S.