RBI eases money supply

The Reserve Bank of India cut cash reserve ratio(CRR) by 25 basis points from 4.5 per cent  to 4.25 per cent which will release some Rs.175 billion into the system for commercial lending with the hope that it will keep inflation under check, while also pushing growth. The CRR is the money against deposits which commercial banks have to retain in the form of liquid assets such as cash.
“The reduction in the cash reserve ration is intended to pre-empt a prospective tightening of liquidity conditions, thereby keeping liquidity comfortable to support growth,” Mr. Subbarao said explaining the decision.

New Union Ministers

In a major Cabinet reshuffle Prime Minister Manmohan Singh introduced many new faces in an effort to improve the image of the government.


NEW CABINET MINISTERS:
K. Rahman Khan : Minority affairs

Dinsha J. Patel : Mines
Ajay Maken : Housing and urban poverty alleviation
M.M. Pallam Raju : Human resource development
Ashwani Kumar : Law and justice
Harish Rawat : Water resources
Chandresh Kumari Katoch : Culture


CHANGES IN PORTFOLIOS OF CABINET MINISTERS
M. Veerappa Moily : Petroleum and natural gas
S. Jaipal Reddy : Science and technology and earth sciences
Kamal Nath : Urban development and parliamentary affairs
Vayalar Ravi : Overseas Indian affairs
Kapil Sibal : Communications and information technology
CP Joshi : Road transport and highways
Kumari Selja : Social justice and empowerment
Pawan Kumar Bansal : Railways
Salman Khurshid : External affairs
Jairam Ramesh : Rural development


NEW MINISTERS OF STATE (INDEPENDENT CHARGE)
Manish Tewari : Information and broadcasting
K. Chiranjeevi : Tourism

CHANGES IN PORTFOLIOS OF MINISTERS OF STATE (INDEPENDENT CHARGE)
Jyotiraditya Scindia :Power
K.H. Muniappa : Micro, small and medium enterprises
Bharatsinh Madhavsinh Solanki : Drinking water and sanitation
Sachin Pilot : Corporate affairs
Jitendra Singh : Youth affairs and sports

NEW MINISTERS OF STATE
Shashi Tharoor : Human resources development

Kodikunnil Suresh : Labour and employment
Tariq Anwar : Agriculture and food processing industries
K.J. Surya Prakash Reddy : Railways
Ranee Narah : Tribal affairs
Adhir Ranjan Chowdhury : Railways
A.H. Khan Choudhury : Health and family welfare
Sarve Sathyanarayana : Road transport and highways
Ninong Ering : Minority affairs
Deepa Dasmunsi : Urban development
Porika Balram Naik :Social justice and empowerment
Killi Kruparani : Communications and information technology
Lalchand Kataria : Defence


CHANGES IN PORTFOLIOS OF MINISTERS OF STATE
E. Ahmed : External affairs
D. Purandeswari : Commerce and industry
Jitin Prasada : Defence and human resource development
S. Jagatharakshakan : New and renewable energy
RPN. Singh :Home
KC Venugopal : Civil aviation
Rajeev Shukla : Parliamentary affairs and planning

Nobel 2012 Summary

THE NOBEL PRIZE IN PHYSICS
Serge Haroche, David J. Wineland
The Nobel Prize in Physics 2012 was awarded jointly to Serge Haroche and David J. Wineland "for ground-breaking experimental methods that enable measuring and manipulation of individual quantum systems"

THE NOBEL PRIZE IN CHEMISTRY
Robert J. Lefkowitz, Brian K. Kobilka
The Nobel Prize in Chemistry 2012 was awarded jointly to Robert J. Lefkowitz and Brian K. Kobilka "for studies of G-protein-coupled receptors"

THE NOBEL PRIZE IN PHYSIOLOGY OR MEDICINE
Sir John B. Gurdon, Shinya Yamanaka
The Nobel Prize in Physiology or Medicine 2012 was awarded jointly to Sir John B. Gurdon and Shinya Yamanaka "for the discovery that mature cells can be reprogrammed to become pluripotent"

THE NOBEL PRIZE IN LITERATURE
Mo Yan
Mo Yan "who with hallucinatory realism merges folk tales, history and the contemporary"

THE NOBEL PEACE PRIZE
European Union (EU)
European Union (EU) "for over six decades contributed to the advancement of peace and reconciliation, democracy and human rights in Europe"

THE PRIZE IN ECONOMIC SCIENCES
Alvin E. Roth and Lloyd S. Shapley
Alvin E. Roth and Lloyd S. Shapley "for the theory of stable allocations and the practice of market design".

Source: http://www.nobelprize.org