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India-Russia defence deals: Six things India got from old friend Russia

  • Prime Minister Narendra Modi called out to India’s “old friend” Russia in a joint address at the sidelines of the BRICS Summit before holding wide-ranging talks with Russian President Vladimir Putin, which covered the entire expanse of bilateral engagement.
  • The engagement witnessed 16 agreements being signed between the two countries.
    Here are the key agreements the two nations signed:

    Image result for india russia deal

    Today’s other important agreements included:

    ► A memorandum of understanding to develop transport logistics system

    ► An agreement on education and training

    ► An MoU on urban development and smart city projects

    ► A pact on cooperation between Indian and Russian railways

    ► Announcement in relation to successful execution of documents between Rosneft and Essar for oil

    ► Space cooperation between Russian space Corporation  ..
    Rate panel eyed growth concerns; took solace in low inflation: RBI minutes

    This was the first time the rate decision was taken by the MPC, as against past instances where the governor of the central bank was the sole arbiter.

    MUMBAI: The minutes of the Reserve Bank of India’s maiden monetary policy committee (MPC) meeting, released on Tuesday, showed that broad concerns over economic growth and relief from the pullback in inflation, spurred the bank’s recent rate cut decision.

    The minutes from the 2-day meeting on October 3-4, which saw all six MPC members voting for a quarter point rate cut to 6.25 percent also revealed all members expecting inflation to be in line with Reserve Bank of India’s March-end ..

    RBI to hold board meeting in Kanpur on October 20
    It also happens to be the first central board meet under new Governor Patel.

    This is first such instance that RBI will hold the meeting at this industrial city of Uttar Pradesh. It also happens to be the first central board meet under new Governor Patel.

    Patel will reach Kanpur tomorrow evening and will have interaction with industrialists and technocrats here, said Deepesh Tewari, Manager (Personnel).

    Tewari said there is no prior information about whether the Governor will interact with the media or not.

    BRICS makes a case for strong quota-based and resourced International Monetary Fund

    The leaders of Brazil, Russia, India, China and South Africa strongly committed to support the coordinated effort by the emerging economies to ensure that the new quota formula will be finalised within the agreed timelines.
    “We reaffirm our commitment to a strong, quota based and adequately resourced International Monetary Fund (IMF). Borrowed resources by the IMF should be on a temporary basis,” stated Goa Declaration on 8th BRICS Summit concluded here.

    Highlighting the importance of public and private investments in infrastructure, including connectivity,to ensure sustained long-term growth, the leaders of the five nation grouping called for approaches to bridge the financing gap in infrastructure in ..