RBI Rate Cut Old Information

In a major move to inject an additional estimated Rs. 85,000 crore into the system, the Reserve Bank of India on Saturday cut key deposit requirements for banks by one percentage point and its short-term lending rate by 0.5 percentage point, a decision that may help soften general interest rates. The decisions to cut the cash Reserve Ratio by 100 basis points each and the repo rate by 50 basis points come a week after the busy season credit policy review by the RBI, in which it had given an assurance of more measures to boost economic growth. The RBI would continue to closely monitor development in global and domestic financial markets and take swift and effective action as appropriate. With the latest measures, the RBI has pumped about Rs. 2.70 lakh crore into the system since October but industry leaders and bankers feel more is needed to effectively bring down the commercial lending rates.

Old Info of Kalam on Chandrayaan

Byalalu village near Bangalore had a high profile visitor on Saturday. The former President, A.P.J. Abdul Kalam, visited the Indian Deep Space Network and the giant antenna here and expressed his desire to see an Indian scientist land on the moon by 2021. "I would be 90 years old then, "he told a gathering of senior scientists. G.Madhavan Nair, chairman of the Indian Space Research Organization (ISRO) presented Mr. Kalam with a picture of the Earth taken by the Terrain Mapping Camera on board Chandrayaan - I from an altitude of 70,000 Km. Earlier in the day, speaking to reporters after launching an emergency response service in the city, Mr. Kalam said he believed that every Indian should be proud of the Chandrayaan-I, the country's first moon mission program taken up by ISRO. The images captured by the spacecraft were of high resolution and quality and therefore "an indicator of what it holds for the future ", he added. On November 8, when Chandrayaan leaves the Earth's gravity and enters the Moon's orbit, will be the next milestone for the mission, Mr. Kalam said.

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Information about Ooty Train

The Coonoor - Udhagamandalam (OOTY) mountain railway train, which was featured in Bollywood blockbuster song " Chhaiyya Chhaiyya" in the film "Dil Se", will turn 100 on October 15. A star attraction for tourists, it offers a breathtaking view of the enchanting flora and fauna of the Nilgiris. It was on October 15, 1908 that the first train chugged in Udhagamandalam (OOTY) from Coonoor, much to the delight of the local people. This 18 km lomg line is part of the 46-km long mettupalayam- Udhagamandalam Nilgiris Mountain Railway (NMR), which has been accorded UNESCO world heritage status. While the NMR, an engineering marvel which uses a rack and pinion system, was thrown open to the Public on June 15,1899, it was extended upto Udhagamandalam only in 1908. In 1882 Swedish inventor Riggenbach came up with the idea of a "Nilgiri Railway".