Current Affairs For SSC CGL Exam - 01 November, 2013

Current Affairs For SSC CGL Exam

Six major central banks, said they would make their web of currency swap arrangements permanent as a ‘prudent liquidity backstop’ in case of future global financial strains.
The Bank of Japan, the U.S. Federal Reserve, the European Central Bank, the Bank of England and the central banks of Canada and Switzerland will convert their “temporary bilateral liquidity swap arrangements’’ into standing arrangements that “will remain in place until further notice.’’

Currency swap lines were first introduced nearly six years ago in response to a global credit crunch that starved banks of liquidity and threatened to gum up the entire financial system.
They were an important part of the policy response to the 2007-09 financial crisis, keeping a lid on funding costs, which had spiralled due to fear over counter-party risk.
The arrangements were next due for review in February.

India and Cuba signed a memorandum of understanding (MoU) for cooperation between Prasar Bharati (PB) and Cuban Radio and Television Institute (ICRT) as part of strengthening the friendly relations between the two countries.
They will also explore co-production opportunities in broadcasting on issues of mutual interest.
PB and ICRT will exchange programmes in culture, education, science, entertainment, sports and news of mutual interest, subject only to contractual and copyright limitations.
The exchange will be on gratis basis, taking into account any existing commercial agreement.

China opened a new highway that links what the government has described as Tibet’s “last isolated county” – located near the border with Arunachal Pradesh – with the rest of the country and will now provide all-weather access to the strategically-important region.
Chinese State media have hailed the opening of the highway to Medog – which lies close to the disputed eastern section of the border with India – as a technological breakthrough.
with the project finally coming to fruition after seven failed attempts over the past fifty years.China first started attempting to build the highway to Medog – a landlocked county in Tibet’s Nyingchi prefecture – in the 1960s, according to State media reports, in the aftermath of the 1962 war with India.