2014 Event The World Bank reports that India is now the third-largest economy behind the U.S. and China on the basis of purchasing power parity; India replaces Japan, though Japan remains in third place when GDPs are compared on an exchange-rated basis 2014 Event Nigeria rebases its GDP calculations, making its economy the largest in Africa on a total GDP basis; however, South Africa leads on a GDP per capita basis 2011 Event South Korea's Central Bank raises its benchmark interest rate by 25 basis points, to 3.25 percent 2011 Event Interest rates at the Reserve Bank of India are increased by 50 basis points to 7.25 per cent 2011 Event NATO increases its surveillance flights over Libya, patrolling the area on a 24/7 basis 1949 Event 1st UHF television station operating regular basis (Bridgeport Ct) 1883 Event Pendleton Act creates basis of U.S. Civil Service system 1816 Event French frigate Medusa wrecked; basis of Gericault's "Raft of the Medusa" 1800 Birthday William Chambers, author/publisher, Basis of Communication and Coding 1291 Event Everlasting League forms, basis of Swiss Confederation (Independence)
