The first ever India-Africa Forum summit was held on Aprail 8-9 2008 in New Delhi. Prime Minister Dr. Manmohan singh announced a duty free tariff preferece scheme for exports from 50 Least Developed Contries- of these 34 are in africa. He also doubled credit assistance to Africa to $ 5.4 billion.He also announced an enhanced quota of 1600 seatsannualy for african under it's flagship technical trainning scheme, ITEC.

Khuda Ke Liye (In the name of God)- directed by Shohaib Mansoor becomes the first film from pakisatan to be released across cinemas in more than four decades.

What is CRR, Repo Rate, Reverse Repo Rate and SLR?

Cash reserve Ratio (CRR) is the amount of funds that the banks have to keep with RBI. If RBI decides to increase the percent of this, the available amount with the banks comes down. RBI is using this method (increase of CRR rate), to drain out the excessive money(liquidity) from the banks.

Repo rate is the rate at which banks borrow money from RBI. A reduction in the repo rate will help banks to get money at a cheaper rate. When the repo rate increases borrowing from RBI becomes more expensive.

Reverse Repo rate is the rate at which Reserve Bank of India (RBI) borrows money from banks.

SLR (Statutory Liquidity Ratio) is the amount a commercial bank needs to maintain in the form of cash, or gold or govt. approved securities (Bonds) before providing credit to its customers