Slovenia PM formally resigns post

1.    Slovenia PM formally resigns post 

i. Slovenia’s Prime Minister has formally resigned, calling for an early vote to be held in the small EU nation next month.

ii. Alenka Bratusek handed in her resignation to the parliament speaker on Monday after announcing earlier she was stepping down.

2.    Rangarajan says CAD to be around 2% of GDP

i. India’s Current Account Deficit (CAD) is likely to be around 2 per cent of GDP in the coming few years due to slackening of gold imports, among other factors, Prime Minister’s Economic Advisory Council Chairman C Rangarajan said on Monday.

ii. Finance Minister P Chidambaram recently said the CAD was brought down significantly to $ 32 billion in 2013-14 as against $ 88 billion during 2012-13 and fiscal deficit contained within the target in the last fiscal.

iii. The CAD in 2012-13 was 4.7 per cent of GDP and in 2013-14 it will be only 1.7 per cent, the Finance Minister had said.

iv. Replying to a query, he said administrative restrictions that were imposed on gold import may be relaxed as the prices of the yellow metal are stabilised.

3.    ING Vysya Life Insurance Company Ltd has become Exide Life Insurance Company

i. ING Vysya Insurance changes name to Exide Life Insurance Company.

ii. An announcement to this effect was made by Managing Director Kshitij Jain in Bangalore on Monday.

iii. The change is with immediate effect following approval from the Insurance Regulatory and Development Authority and Ministry of Corporate Affairs.

iv. It is a decision in tune with Exide acquiring 100 per cent ownership of the insurance company.

v. The insurance company will continue to honour its commitments and obligations under the insurance policies issued to customers in the name of ING Vysya Insurance Company Ltd.