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The Reserve Bank of India (RBI) has announced the reduction in ceiling rate on export credit relating to the foreign currency by the banks.

The rate has been reduces from Libor plus 350 to Libor plus 200 basis points with immediate effect, according to the notification from the RBI.

The central bank has said that this cut would be applicable on the new advances. It has asked banks to not apply any extra charges like service charge and management charge except on the recovery of out-of-pocket expenses.

Similar changes will take effect where Euro Interbank Offered Rate has been used as a benchmark rate.

The centre has set up an inter-ministerial group under the fertilizer secretary Krishnan to review the subsidies for fertilizers every year. The new pricing regime, Nutrient Based Subsidy Scheme (NBS) will come in effect from April 1 this year.

It was decided to keep a check on the prices at present and slowly move to a scenario of complete price decontrol under the framework of NBS.

Some analysts believe that the new pricing mechanism would bring benefits like soil health and subsidy cuts and increased competition among the more efficient companies only at a later stage.

Virender Sehwag has hinted that he could retire after

A recent study released by Health Minister Ghulam Nabi has distressingly revealed that child marriage has continued to remain a huge problem across the country, with about 50% of the women getting married before even hitting the minimum legal marriageable age of 18. The study's results were released on Saturday.

"Marriage happens very early for most of the women in most states - one fifth were married below the age of 15 years and 49 percent were married before turning 18", the study said.

The congress party does not appear to be worried over the differences that surfaced between the Union Finance Minister Pranab Mukherjee and Railway Minister Mamata Banerjee at the meeting of cabinet ministers on Thursday.

Mr. Mukherjee is opposing a lenient or populist railway budget which does not include any fare increase by Ms. Banerjee. The differences surfaced when the cabinet was discussing subsidy regime for fertilizers.

A report said that the bombs are being planted on the railway tracts connecting the city of Hyderabad. The bomb scare led to the disruption of train services and an elaborate search operation from the authorities.

The authorities decided to stop around 12 trains at various stations in Hyderabad and also stopped some trains from entering the city. A search operation was also launched on the rail entry points of the city.