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Major News and Events of 30 October 2018

What Happened on 30 October 2018


30 October 2018 Current Events Supreme Court bans old vehicles from NCR roads; calls the situation "very critical"

On Monday, the apex court banned all 15-year-old petrol, 10-year-old diesel vehicles from plying in the NCR. The transport department has been instructed to impound any such vehicles, if found on the road.

The court has directed the Central Pollution Control Board (CPCB) and transport department to publish a list of all the prohibited  vehicles on their web sites. The directive has come following the pollution situation in the National Capital Region, which the court has termed as "very critical".


Rescuing the Rupee: India and Japan sign $75-billion currency swap deal

On Monday, the two countries signed a record deal of $75 billion, aimed at stabilising the foreign exchange and capital markets, especially after the continuous slide down in Rupee recently.The last swap agreement between the two nations was in 2013, with the latest one being 50% higher.

"Accepting Japanese request, India agreed to do away with requirement of mandatory hedging for infrastructure ECBs of 5 years or more minimum average maturity", said the economic affairs secretary, Subhash Chandra Garg. Following the agreement, the Bank of Japan will now accept Indian Rupees and give Dollars in exchange (to RBI), while, the RBI will also take the yen in exchange for Dollars from the Bank of Japan. The deal will help both the nations in stabilising their currency.


Supreme Court bans old vehicles from NCR roads; calls the situation "very critical"

On Monday, the apex court banned all 15-year-old petrol, 10-year-old diesel vehicles from plying in the NCR. The transport department has been instructed to impound any such vehicles, if found on the road.

The court has directed the Central Pollution Control Board (CPCB) and transport department to publish a list of all the prohibited  vehicles on their web sites. The directive has come following the pollution situation in the National Capital Region, which the court has termed as "very critical".

Rescuing the Rupee: India and Japan sign $75-billion currency swap deal

On Monday, the two countries signed a record deal of $75 billion, aimed at stabilising the foreign exchange and capital markets, especially after the continuous slide down in Rupee recently.The last swap agreement between the two nations was in 2013, with the latest one being 50% higher.

"Accepting Japanese request, India agreed to do away with requirement of mandatory hedging for infrastructure ECBs of 5 years or more minimum average maturity", said the economic affairs secretary, Subhash Chandra Garg. Following the agreement, the Bank of Japan will now accept Indian Rupees and give Dollars in exchange (to RBI), while, the RBI will also take the yen in exchange for Dollars from the Bank of Japan. The deal will help both the nations in stabilising their currency.




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