RBI draft ECB norms: Firms may get access to sovereign, pension funds

• The Reserve Bank of India (RBI) has proposed to allow domestic firms to borrow from foreign regulated financial entities, pension funds, insurance funds, sovereign wealth funds and other long-term investors as part of a major relaxation in fund raising via external commercial borrowing route. 
• The RBI has also proposed that Indian banks act as ECB lenders subject to norms. The draft ECB norms, however, proposed to lower the all-in cost borrowing by 0.50 per cent to ensure that the funds are borrowed from abroad at a reasonable interest rate. 
• According to the draft guidelines on ECBs released by the RBI, there will only be a small negative list which include stock market operations, real estate activity and purchase of land. They will not be allowed to raise funds via ECBs or rupee-denominated borrowing

International Day of Zero Tolerance to Female Genital Mutilation

February 06 is observed as International Day of Zero Tolerance to Female Genital Mutilation every year since 2003. The day is being observed to make the world aware of female genital mutilation (FGM) and to promote its eradication.

FGM is a procedure that involves altering or injuring female genitalia. It is the ritual removal of some or all of the external female genitalia using razor blade or knife. FGM is concentrated in 27 African countries and more than 130 million women and girls have experienced FGM in those countries.

This theme for 2015 campaign is “Mobilization and Involvement of Health Personnel to Accelerate Zero Tolerance to Female Genital Mutilation”.

Immediate Consequences of FGM – severe bleeding, haemorrhaging, sepsis, tetanus, urine retention, open sores and injury to nearby genital tissue.

Long term consequences – recurrent bladder or urinary tract infections, cysts, infertility, childbirth complications, fatal bleeding and newborn deaths.

29 January 2015

TOP TEN NEWS OF THE DAY :-

1. Two legislators disqualified in Uttar Pradesh on charges of holding of office of profit.

2. Government expects to garner more than 22,000 crore rupees from sale of 10% stake in Coal India, fixes floor price at 358 rupees per share.

3. Ex Foreign Secretary Sujata Singh says, she had sought early retirement from service.

4. Tearful farewell to this year's gallantry award winner Colonel M.N. Rai martyred in an encounter in Jammu and Kashmir on Tuesday.

5. Newly appointed Foreign Secretary S Jaishankar takes charge; Replaces Sujatha Singh.

6. Sports Ministry enhances award money for medal winners in international events; Revised Scheme of Special Awards.
Cuba demands US to hand back Guantanamo Bay.

7. Social Activists Anna Hazare to launch fresh agitation on Lokpal issue; criticizes Centre for its failure to bring back Black Money.

8. Supreme Court advises Websites against posting Advertisements for Sex determination tests.

9. India to host the next year's Twenty20 Cricket World Cup.

10. Andy Murray enters the final of Australian Open Tennis.