28 January 2014 Current Affairs

Ukraine Prime Minister Mykola Azarov Resigned

Mykola Azarov, Ukraine’s Prime Minister, on 28 January in order to facilitate peaceful settlement of the political crisis. President Viktor Yanukovych accepted the resignation of the Prime Minister. The move came after the Ukrainian parliament voted overwhelmingly to annul a controversial anti-protest law. The Parliament voted by 361 to two to repeal the protest legislation which among other measures banned the wearing of helmets by protesters and the blockading of public buildings.

RBI raised Repo Rate By 25 Basis Points To 8 Percent

Reserve Bank of India (RBI) raised the Repo rate under Liquidity Adjustment Facility (LAF) by 25 basis points from 7.75 percent to 8 percent. Besides, it kept the cash reserve ratio (CRR) of scheduled banks unchanged at 4 percent of net demand and time liability (NDTL). The decision to raise the repo rate and keep the CRR unchanged was announced by the RBI in its Third Quarter Monetary Policy Review on 28 January. As a result, the reverse repo rate under the LAF stands adjusted at 7 percent, and the marginal standing facility (MSF) rate and the Bank Rate at 9.0 percent.

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