Friday, February 24, 2012

Fitch downgrades Greece

Fitch rating agency dual-headquartered in New York and London says it has downgraded Greece further into junk status, from 'CCC' to 'C'.

Terms of the day


AMC – Asset Management Company
IMD – India Meteorological Department
GMT – Greenwich Mean Time
LME – London Metal Exchange (world’s largest metal trading exchange)
NAV – Net Asset Value
CARE – Credit  Analysis and Research
ASCI – Advertising Standard Council of India
CBEC – Central Board of Excise and Customes.
GST – Goods Service Tax
FEC – (International) Friendship Exchange Council











Miscellaneous


Indirect tax collection target for 2011-12 – Rs. 3.93 lakh crore.
India’s per capita income - $1200
RBI to buy G-Secs (Government securities) worth Rs. 12000 crore through OMO (Open Market Operations) to ease the current liquidity crisis.
National Australia Bank opens first branch in India, in Mumbai.
Economic Advisory Council pegs 2012-13 growth rate at 7.5 to 8
The mining sector’s contribution to the country’s GDP is 1.2 % for the last several years.
Hero MotoCorp ties up with Eirk Buell Racing (US based) 






Worth reading