ECONOMY AFFAIRS NOVEMBER 2010

ECONOMY AFFAIRS NOVEMBER 2010

• New guidelines from Telecom Regulatory Authority of India (TRAI) to impose fine upto Rs.10 lakh for unwanted calls from telemarketing agencies. In the interests of mobile subscribers, the telemarketing agencies to get the new series numbers starting with 700. 
• 7th Annual Microfinance India Summit held in New Delhi discussed the need for reforms in microfinance industry. Chairman, Economic Advisory Council to the Prime Minister, Dr. C. Rangarajan called for reforms in MFI business.
• Coca-Cola India launches ready-to-drink iced tea brank NESTEA, a global brand licensed to Beverage Partners Worldwide.
• Union Minister for Heavy Industry and Public Enterprise, Vilasrao Deshmukh handed over the certificates conferring the status of Maharatna for Indian Oil Corporation, Oil and Natural Gas Corporation and National Thermal Power Corporation. 
• World's fifth biggest telecommunications, Bharati Airtel crosses the landmark of 20 crore subscribers out of which 15 crores are from Indian market only launches its new logo on this occasion.
• Senior Economist, Dev Kar at Global Financial Integrity reveals through his report that India have lost hundreds of billions of dollars during the last six decades by flooding the illegal cash to overseas banks to avoid tax in India.
• The Reserve Bank of India raised the repo rate (at which banks borrow from RBI) to 6.25% and reverse repo rate (the rate of interest that banks get with their surplus money being parked with central bank) to 5.25% to control the high inflation in the country. 
• 9th Petrotech International Oil and Gas Exhibition was inaugurated in New Delhi by Union Ministers Murli Deora and Jitin Prasada.