Current Affairs 29th November 2014

Current Affairs 29th November 2014

Updated : 29-Nov-2014

Current Affairs 29th November 2014 - Important Points
Current Affairs 29th November 2014 - Details
RBI decided to sell Rs. 12000 Crore Government Bonds through Open Market Operations
Among the important banking current affairs, On 26th November 2014, RBI decided to sell government bonds worth 2000 crore rupees. These government bonds will be sold through Open Market Operations (OMOs) with an aim to squeeze the liquidity in the market.

RBI will sell government securities maturing in different years will have different interest rates as 2017 (bearing interest rate of 8.07 per cent), 2020 (7.80 percent), 2022 (8.08 percent) and 2027 (8.26 percent).
Do You Know :
Open market operations (OMO) are a monetary policy tool used by RBI to increase or decrease money supply by buying and selling government bonds in the open market.
Commercial surrogacy banned by Thai parliament
On 28th November 2014, Commercial surrogacy was banned by voting in Thailand's Parliament. It was said that violators could face 10 years in jail.
After an outrage erupted over the unregulated industry following a series of scandals including the case of an Australian couple accused of abandoning a baby with Down syndrome this ban was made. Anger among the people about Thailand's surrogacy trade was also increased when a Japanese man was found to have fathered nine surrogate babies.
Rajiv Mehrishi nominated as Director on RBI Central Board by Union Government
On 28th November 2014, Indian Government nominated 1978-batch IAS officer of Rajasthan cadre Mr. Rajiv Mehrishi as a Director on the Central Board of Directors of Reserve Bank of India. He will be succeeding Arvind Mayaram. At the time of his nomination Mr. Rajiv Mehrishi was working as Secretary of Department of Economic Affairs in Union Ministry of Finance.

Mr. Mehrishi has served on many positions in the state government and said to be have done a lot for labour reforms in Rajasthan.
Book titled "Next China-India War" authored by General S. Padmanabhan released
Recently book titled "Next China-India War - World's First Water War - 2029" which is authored by former Army chief General Sundarajan Padmanabhan was released.
He has predicted that two countries may have conflict over the Brahmaputra.
He has showcased Chinese plan to divert Yarlung Tsangpo (Brahmaputra River) from flowing south to India and Bangladesh to flowing north to Northwest China in his prediciton. Though India has already protested against this project to the UN, who referred it to the International Court of Justice. Both the Court and the UN held that as the river originates in Tibet, a province of China, China was entitled to alter the course of the river to suit her.
Gold imports eased by RBI, 80:20 scheme scrapped
On 26th November 2014, Gold imports were eased by RBI (Reserve Bank of India) and 20:80 scheme was scrapped. Withdrawing of 20:80 scheme is aimed to cut smuggling of gold and raise legal shipments into India.
In 2013, the 20:80 scheme was introduced to bring down inbound shipments, sliding rupee and to combat a huge current account deficit (CAD) along with a hike in import duty to 10 percent. Under 20:80 scheme it was mandatory to export 20 percent of the imported gold as finished products like jewellery. Initially only public sector firms and banks were allowed to import gold and later in May 2014 these rules were slightly eased to star and premier export houses.