Govt. raises interest rate on GPF to 8.8 percent for 2012 -13: The Government on May 23, 2012 hiked interest rate on contributions to GPF (General Provident Fund) and other similar funds to 8.8 percent for 2012 -13. The interest rates on such funds were 8.6 percent during December 2011- March 2012 period, while it was 8 percent for April – November 2011. The move benefits millions on Govt. Employees.
India – Pakistan trade declines: Bilateral trade between India and Pakistan declined by about 30% to $1.56 billion during April- January, 2011-12. During the same period of 2010 -11 fiscal, the bilateral trade was $2.22 billion.
Moody’s downgrades ICICI bank, HDFC Bank, Axis Bank: Credit Ratings agency Moody’s on May 14, 2012 downgraded India’s three top private sector lenders, the ICICI bank, HDFC Bank, Axis Bank on growing concerns over the country’s sovereign debt ratings. Moody’s lowered the standalone ratings of these top three private sector lenders to the sovereign ratings level of D+ from earlier C-. The lenders’ hybrid rating is also lowered a notch to Baa2 from Baa3
MGNREGS’s ambit expanded : The 100-day employment guarantee scheme, Mahatma Gandhi National Rural Employment Scheme (MGNREGS) was expanded to include 30 new works related to agriculture, watershed, livestock, fisheries, flood management and irrigation and aligned with a national sanitation campaign
No comments:
Post a Comment