GK Power Capsule – (The Hindu Review) August 2014

1. RBI has held policy rates at current levels. However RBI’s move to cut SLR by 50 bps to 22% could provide banks an additional liquidity of R44,000 crore. Current fiscal year is expected to go up to 5.5 per cent from 4.7 per cent in last financial year.
i. Bank Rate – 9 % (Unchanged)
ii. Cash Reserve Ratio – 4 % (Unchanged)
iii. Statutory Liquidity Ratio – 22 % (Decreased 0.5%)
iv. Repo Rate – 8 % (Unchanged)
v. Reverse Repo Rate – 7 % (Unchanged)
vi. Marginal Standing Rate – 9 % (Unchanged)

2. Union Government appointed chairman of Joint Intelligence Committee (JIC) RN Ravi as Naga interlocutor. He was also appointment as Chief of the Joint Intelligence Committee. 

3. Turkey's ruling party named Finance Minister Ahmet Davutoglu as New Prime Minister of Turkey. 

4. Thailand coup leader, Army Chief Prayuth Chanocha was elected as The Prime Minister of Thailand.
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