Weekly news

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Weekly news

  1. 1. Weekly News (7 th Feb to 13 th Feb)
  2. 2. India's per capita income to grow 17.3% at Rs 54,527 in FY'11 <ul><li>India's per capita income is projected to grow by 17.3 per cent to Rs 54,527 in 2010-11 from Rs 46,492 in the year-ago period, according to the official data released today. </li></ul><ul><li>Per capita income is calculated by evenly dividing the national income among the country's population. </li></ul>
  3. 3. UK Sinha is new SEBI chairman <ul><li>U K Sinha, chairman of the Association of Mutual Funds in India, has been named the new chairman of the Securities and Exchange Board of India. </li></ul><ul><li>Sinha will take over on February 17 next year when incumbent C B Bhave's term ends. </li></ul><ul><li>Bhave took charge as Sebi chairman on February 18, 2008 on a three-year term. However, the terms of chairman and whole-time directors at Sebi have been increased to five years since then. </li></ul>
  4. 4. Egypt turmoil may worsen India's c/a deficit <ul><li>A prolonged political turmoil in Middle Eastern countries, led by Egypt, may deteriorate India's current account deficit. </li></ul><ul><li>The crisis in Egypt could result in oil prices trending higher, which will impact India's already deteriorating current account deficit, leading to higher subsidies and inflation. </li></ul><ul><li>India's current account deficit in the September quarter widened to a record high of $15.8 billion. </li></ul>
  5. 5. RBI indicates tighter monetary policy to contain inflation <ul><li>Worried that the Egypt crisis may further push up crude oil prices, the Reserve Bank today indicated sticking to its &quot;anti-inflationary&quot; efforts through tight monetary policy. </li></ul><ul><li>RBI will stick to anti-inflationary measures, which in turn could result in high interest rate for borrowers of all types of loans. </li></ul>
  6. 6. Contd. <ul><li>This reaction comes at a time when the headline inflation rose to 8.43 per cent according to December figures and food inflation went above 17 per cent for the week ended January 22. </li></ul>
  7. 7. Wipro brass to be recast as co plans to regain ground <ul><li>In the first round of restructuring at Wipro after its billionaire Chairman Azim Premji replaced the joint CEOs last month </li></ul><ul><li>Now the company is set to announce a leadership change to take charge of the flagging healthcare business. </li></ul><ul><li>In April 2009, Wipro had appointed Rajiv Shah to lead the healthcare practice. Shah resigned from his role a few weeks before the joint CEOs quit. </li></ul>

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