Current Affairs 31st May 2015

Current Affairs 31st May 2015 - Important Points

• Which firm became nation's most profitable firm by replacing ONGC - RIL

• How much growth of GDP is expected by SBI in FY'15-16 - 7.9%

• India hikes US govt securities holdings to - $107 bn

Current Affairs 31st May 2015 - Details

Which firm became nation's most profitable firm by replacing ONGC - RIL

Reliance Industries replaced state-owned Oil and Natural Gas Corp (ONGC) to become the India's most profitable company. RIL posted a consolidated net profit of Rs 23,566 crore in the 2014-15 fiscal, while if we talk about ONGC then its a consolidated net profit of Rs 18,334 crore in 2014-15. ONGC is on third rank now. On second rank its is Tata Consultancy Services Ltd as per earning data of listed firms available on the BSE.

SBI which is the largent lender of India is on the fourth place with the profit of 16,994 crore.

How much growth of GDP is expected by SBI in FY'15-16 - 7.9%

It is expected by SBI that India's GDP growth will increase upto 7.9 percent this fiscal year.  

The Central Statistics Office (CSO) on Friday said that Indian economy grew 7.3 per cent in 2014-15 and 7.5 per cent in fourth quarter.

The recent growth numbers are disappointing given the significant decline in 'gross value added' in fourth quarter of 2014-15 (at 6.1 per cent from 7.8 per cent projection and a secular decline from 8.4 per cent in Q2 FY'14-15), according to Ghosh.

India hikes US govt securities holdings to - $107 bn

Continuing to increase its exposure to US government securities, India’s holdings rose to $107.7 billion at the end of March this year as per the latest data from the US Treasury Department shows that India purchased additional securities worth $6 billion in March, taking its total exposure to $107.7 billion.

At the end of March this year, China was the biggest holder with securities worth $1.261 trillion, followed by Japan that had an exposure of $1.227 trillion.

Among the BRIC (Brazil, Russia, India, China) grouping, India is the third largest holder of US government securities.