Wednesday, 20 May 2015

Current Affairs - May 20, 2015


IndusInd Bank inks pact with payment processing company Worldpay
·         The UK-based payment processing giant Worldpay has partnered with IndusInd Bank to offer acquiring services in India. The association will assist both the companies in processing customers’ payments and marks the first step for Worldpay in entering the Indian market — a result of the growth in eCommerce across the country.

IDBI Bank to launch e-huts for services in rural areas
·         IDBI Bank is set to expand its branch network to 2,000 by the end of the current year from 1,740 now, besides rolling out e-huts to provide services to people in rural areas.
·         E-hut is a western concept and is set up at relatively populated areas, such as malls.

Finance Bill 2015 receives Presidential assent
·         Finance Bill 2015 has received the Presidential assent on May 14.
·         Although the Finance Bill 2005 has now been enacted into law, all the provisions have not been implemented from this date (May 14).
·         Among the provisions that would be applicable from a date to be notified include increase in service tax from 12.36 percent to 14 percent; imposition of Swachh Bharat Cess @ 2 percent on the value of taxable services and levy of service tax on entry to entertainment events and access to amusement facilities.

Amazon enters partnership with State Bank of India
·         Online marketplace Amazon has entered into a pact with State Bank of India (SBI) to develop payments and commerce solutions for consumers and small businesses.
·         Through this partnership, both Amazon and SBI would identify areas of cooperation to build a digital India, said an Amazon statement. “India is a land of entrepreneurs and e-commence has the potential to transform the livelihoods of millions of small businesses by helping them sell nationally and globally,” said Amit Agarwal, vice-president and country manager, Amazon India.
·         SBI had earlier collaborated with taxi hailing services Ola to disburse car loans to drivers on the taxi aggregator’s platform on a daily repayment basis. “Our partnership with e-commerce platforms like Amazon would give a fillip to e-commerce in India and brings lots of value to our retail and SME (small and meium enterprise) customers,” said Arundhati Bhattacharya, chairman, SBI.

Exim Bank to set up subsidiary to push investments in CLMV nations
·         The commerce ministry has decided to set up a project development company under Global Procurement Consultants Ltd (GPCL), a consulting firm promoted by Exim Bank, to kick-start investments in Cambodia, Laos, Myanmar and Vietnam, or CLMV countries.
·         The move is part of the ministry’s efforts to derisk India from the impact of regional trade agreements and create new exporting clusters for Indian companies.
·         The newly created subsidiary of GPCL will act as a facilitator by identifying opportunities, preparing feasibility reports and finally creating bankable projects in CLMV countries where Indian firms can set up manufacturing units. The subsidiary will subsequently create a number of special purpose vehicles with private entities, acquire a special economic zone (SEZ) or industrial park, develop it and then start allocating space in it to business entities in India against payments.

Meghalaya achieves 100% financial inclusion under Pradhan Mantri Jan Dhan Yojna
·         Meghalaya has achieved 100 percent success in implementing Union Government’s flagship scheme for financial inclusion-Pradhan Mantri Jan Dhan Yojna (PMJDY). In the state, all eleven districts have been able to open at least one bank account of every household under the ambitious scheme.
·         More than 5.53 lakh households have been covered with 1.55 lakh new bank accounts. The rural population has given more response to the financial inclusion scheme in the state compared to the urban population. Over 1.8 lakh bank accounts have been opened in rural areas, while in urban area the figure is over 47,000.
·         All banks both from private and public sectors have contributed in successfully implementing the scheme. So far, under the PMJDY, banks have issued more than 1.31 lakh Rupay cards.

About Pradhan Mantri Jan Dhan Yojana (PMJDY)
·         It was launched by Prime Minister Narendra Modi with the goal of eradicating financial untouchability of the poor by opening at least one bank account for every family in the country in less than six months. It seeks to financially empower the poor by providing them access to formal banking system. It also seeks to provide platform for Direct Benefits Transfer (DBT) which will curb leakages in government subsidies and thus saving government exchequer. Initially, after its launch the scheme had a target of opening 7.5 crore bank accounts by January 26, 2015, but later it was revised and raised to 10 crore bank accounts.

Laszlo Krasznahorkai wins Man Booker International Prize 2015
·         "Visionary" Hungarian writer Laszlo Krasznahorkai has been announced as the winner of the sixth Man Booker International Prize.
·         He was born in 1954 and gained recognition in 1985 when he published Satantango, which he adapted for the big screen in 1994.
·         The prize, worth £60,000, is awarded every two years for "an achievement in fiction on the world stage".
·         Krasznahorkai's win was announced at an award ceremony at the Victoria and Albert Museum in London on Tuesday night.

INS Kavaratti, anti-submarine warfare ship launched in Kolkata
·         INS Kavaratti, Indian Navy’s latest anti-submarine warfare class stealth corvette was launched on 19 May 2015 in Kolkata. Kavaratti is the last of the four anti-submarine warfare class stealth corvettes being built for India under Project 28.

V Shanmuganathan sworn in as 15th Governor of Meghalaya
·         V Shanmuganthan was sworn in as the 15th Governor of Meghalaya on 20 May 2015 at the oath taking ceremony held at Raj Bhawan in Shillong.
·         Chief Justice of the Meghalaya High Court, Uma Nath Singh administered the oath of office to him as per the provisions of Article 159 of Constitution of India.
·         He will succeed Keshari Nath Tripathi, governor of West Bengal who was given additional charge of Meghalaya since January 2015.

Economist Mrinal Datta Chaudhuri passes away at 81
·         Eminent economist, noted academic and policy advisor Mrinal Datta Chaudhuri, passed away in Pune. He was 81.

·         He was suffering from chronic obstructive pulmonary disease (COPD). 'MDC' as Professor Chaudhuri was popularly and affectionately called, studied with Nobel Laureate Amartya Sen in Shantiniketan and furthered his education at Kolkata's Presidency College before completing his Ph.D. from the Massachusetts Institute of Technology (MIT).

Tuesday, 24 March 2015

62nd National Film Awards: Complete list of winners

Best Hindi Film: Queen
Best Assamese Film: Othello
Best Bengali Film: Nirbashito
Best Kannada Film: Harivu
Best Konkani Film: Nachom - IA Kumpasar
Best Malayalam Film: Ain
Best Marathi Film: Killa
Best Odiya Film: Aadim Vichar
Best Punjabi Film: Punjab 1984
Best Tamil Film: Kuttram Kadithal
Best Telugu Film: Chandamama Kathalu
Best Rabha Film: Orong
Best Haryanvi Film: Pagdi The Honour
Best Music Direction:
a) Songs - Haider (Hindi)
b) Background Score - Nineteen Eighty Three (Malayalam)
Best Choreography: Bismil for Haider
Best Educational Film: Komal & Behind the Glass Wall
Best Exploration/Adventure Film: Life Force - India's Western Ghats
Best Investigative Film: Phum Shang
Best Animation Film: Sound of Joy
Best Short Fiction Film: Mitraa
Best Film Critic: Tanul Thakur
Best Writing on Cinema: Silent Cinema: (1895-1930)- Pasupuleti
Purnachandra Rao
Best Writing on Cinema: G. Dhananjayan for Pride of Tamil Cinema
Best Costume Designer: Dolly Ahluwalia for Haider
Best Female Playback Singer: Uttara Unnikrishanan for song Azhagu in Saivam (Tamil)
Best Male Playback Singer: Sukhwinder Singh for song Bismil from Haider
Best Actress: Kangana Ranaut for Queen
Best Supporting Actress: Baljinder Kaur for Pagdi The Honour (Haryanavi)
Best Supporting Actor: Bobby Simhaa for Jigarthanda (Tamil)
Best Actor: Vijay for Nanu Avanalla Avalu (Kannada)
Best Direction: Srijit Mukherji for Chotushkone (Bengali)
Best Film on Environment Conservation/ Preservation: Ottaal (Malayalam)
Best Popular Film Providing Wholesome Entertainment: Mary Kom
Indira Gandhi Award for Best Debut Film of a Director: Asha Jaoar Majhe (Bengali)

Best Feature Film: Court (Marathi, Hindi, Gujarati & English)

Friday, 13 March 2015

RRB Vacancies: Uttarakhand Gramin Bank

Uttarakhand Gramin Bank, an Uttarakhand based RRB invites applications from Indian citizens, for the post of Officers in Scale I (84 posts) and Office Assistant (Multipurpose) (175 posts) from Indian citizens who have appeared at the Common Written Examination for RRBs conducted by IBPS in September / October 2014 and declared qualified.

Last date to apply: 27/03/2015.

Detailed Notification:
http://www.uttarakhandgraminbank.com/images/recruitAd_mar2015.pdf

Apply online:
http://ibpsregistration.nic.in/ibps_ugbnk0315/

Thursday, 12 March 2015

News and Updates - March 13, 2015

Industrial output rises, but so does retail inflation

Two major data points released  — factory output for January and retail inflation for February — present a mixed picture of the economy, complicating things for Reserve Bank of India Governor Raghuram Rajan ahead of the April 7 monetary policy review. Retail inflation, as measured by a new consumer price index, rose to a four-month high of 5.37 per cent in February, largely due to a spike in the prices of vegetables and pulses, official data showed. CPI-based inflation was at 5.19 per cent in January 2014 and 7.88 per cent the following month. However, there was positive news on the industrial output front with the print for January 2015 at 2.6 per cent, higher than the 1.1 per cent growth in the same month last year.

Nine dwarf galaxies found orbiting Milky Way
Scientists have found nine new dwarf satellites orbiting the Milky Way, the largest number ever discovered at once. According to the University of Cambridge astronomers, three of the discovered objects are definite dwarf galaxies — small celestial objects that orbit larger galaxies. The others could be either dwarf galaxies or globular clusters — objects with similar visible properties to dwarf galaxies, but not held together with dark matter. The finding could hold the key to understanding dark matter, the mysterious substance which holds our galaxy together, researchers said. The new results mark the first discovery of dwarf galaxies in a decade, after dozens were found in 2005 and 2006 in the skies above the northern hemisphere. The new satellites were found in the southern hemisphere near the Large and Small Magellanic Cloud, the largest and most well-known dwarf galaxies in the Milky Way’s orbit. The newly discovered objects are a billion times dimmer than the Milky Way, and a million times less massive. The closest is about 95,000 light years away, while the most distant is more than a million light years away.

Labour ministry agrees in principle to set up a Workers’ Bank
The labour ministry has, in principle, agreed with a proposal by the Employees’ Provident Fund Organisation (EPFO) to set up a Workers’ Bank, which the retirement fund manager says will help it deploy its corpus profitably. Minister of state for labour and employment ( independent charge) Bandaru Dattatreya has directed his ministry to form a committee to explore the proposal in all its dimensions and then take it up with the department of financial services in the finance ministry. He has also informed the central board of the EPFO. Dattatreya discussed the issue on Wednesday with his ministry and EPFO, which functions under the labour ministry. “We have decided to set up a committee on Workers’ Bank,” Dattatreya said. Both the labour ministry and EPFO believe that the proposed Workers’ Bank will help it expand investments, increase earnings and improve subscribers’ engagement with the organization, which manages a corpus of over Rs.6 trillion and has an active subscriber base of more than 42 million. Proponents of the Workers’ Bank say that if the institution materializes, it would handle all EPFO investments and may help the fund manager invest in the stock market.

RBI issues new norms on NPA sales
In a boost to banks which are facing rising asset quality issues, the Reserve Bank of India (RBI) allowed such lenders to reverse the excess provision on sale of bad loans to their profit and loss account provided the transaction took place before 26 February 2014. The central bank had on the 3 February monetary policy day had said that it would issue the final guidelines on this front after banks requested it to include the provision to those sales took place before 26 February 2014 as well. The move is aimed at incentivizing banks to recover appropriate value in respect of NPAs (non-performing assets). Almost all the banks, including private sector players, have been reporting higher NPAs and lower profits as they have to make more provisions for bad loans, which crossed 5.5% as of December-end. “We reiterate that banks can reverse excess provision arising out of sale of NPAs only when the cash received by way of initial consideration and/or redemption of security receipts/pass through certificates is higher than the Net Book Value (NBV) of the NPAs sold to a securitisation company or an asset reconstruction company (RRC),” RBI said in a notification. The notification also said, “The quantum of excess provision reversed to profit and loss account will be limited to the extent to which cash received exceeds the NBV of the NPAs sold.” It also made it mandatory for banks to report the quantum of such excess provision reversed to the profit and loss account in the financial statements of the bank under ‘notes to accounts’. Bad loans in public sector banks more than tripled to about Rs.2.17 trillion in three years to March 2014.

Union Government launches Pharma Jan Samadhan scheme for redressal of grievances on drugs pricing
Union Government has launched Pharma Jan Samadhan scheme, for redressal of grievances of consumers related to drug pricing and availability of medicines. It was launched by Union Chemicals and Fertilizers Minister Ananth Kumar in New Delhi. The scheme is a web-enabled system created by National Pharmaceutical Pricing Authority (NPPA). It seeks to serve as a robust E-governance tool for protection of interests of consumers through effective implementation of the price of drugs. The scheme will provide consumers with an online facility to redress their complaints related to over-pricing of medicines, non-availability of medicines and refusal of supply for sale of any medicine without good and sufficient reason. After receiving the complaint, NPPA will initiate action on any complaint within 48 hrs. The scheme also seeks to create awareness among the people and act as a deterrent against black-marketing, spurious medicines and inflated cost of drugs by creating phama-literacy initiative.

Karnataka lifted eighth Ranji title
Karnataka lifted Ranji Trophy by defeating Tamil Nadu by an innings and 217 runs on the last day of the final match at the Wankhede stadium in Mumbai. Karnataka batsman Karun Nair won the man-of the-match award for his maiden triple century (338) in first-class cricket. With this win Karnataka won 8th Ranji title and became the second most successful team after 40-time champions Mumbai. Karnatka also became the second team in the Ranji Trophy to defend the title on more than one occasion. They had retained the title in 1997-98 and 1998-99 in the past.

N Sakthan elected Kerala Assembly Speaker
Congress legislator and deputy speaker N Shakthan was elected as the new speaker of the Kerala Assembly. It was announced by Pro-term Speaker Dominic Presentation. Shakthan defeated CPI (M) candidate P. Aysha Potty by 74 to 66 votes. N Shakthan will replace G. Karthikeyan who had died on March 8, 2015. Prior to speaker election, he had resigned as Deputy Speaker of the Assembly on 10 March 2015.

Indian Railways inks MoU with LIC for Rs 1.5 lakh crore investments in rail infrastructure
Indian Railways inked an MoU with Life Insurance Corporation (LIC) to raise Rs 1.5 lakh crore for financing the development of its various commercially viable infrastructure projects. The MoU was signed by Financial Commissioner (Railways) Rajalakshmi Ravikumar and LIC Chairman SK Roy in presence of Union Finance Minister Arun Jaitley and the Minister of Railways Suresh Prabhu. State-run insurance giant LIC will provide a Financial Assistance of Rs 1.5 lakh crore to Indian Railways for developing infrastructure. From the Financial Year 2015-16 the financial assistance will be made available by LIC for over a period of 5 years as part of its commercial decision. The investment will be done in the form of bonds issued by various railway entities such as Indian Railways Finance Corporation (IRFC). There will be a 5 year moratorium in interest and loan repayment. The rate will be linked to 10-year benchmark plus 10 basis points. With the Financial Assistance from LIC, the cash-strapped Railways will be able to augment its resources for speedier execution of projects.

Union Government appoints 9 Executive Directors in Public Sector Banks
Union Government has appointed 9 Executive Directors (EDs) in Public Sector Banks (PSBs). Their appointment was approved by Appointments Committee of the Cabinet on recommendation of selection panel headed by the Reserve Bank of India (RBI) Governor Raghuram Rajan.
Following 9 Executive Directors (ED) of PSBs were appointed
1. K. Sahoo- ED of Allahabad Bank.
2. Pawan Kumar Bajaj- ED of Indian Overseas Bank.
3. Ravi Shankar Pandey- ED of Syndicate Bank.
4. Kishore Piraji Kharat- ED of Union Bank of India.
5. C.Lodha- ED of Central Bank of India.
6. Charan Singh- ED of UCO Bank
7. Venkata Rama Moorthy- ED of Bank of Baroda.
8. P. Marathe- ED of Bank of India.
9. Harideesh Kumar B- ED of Canara Bank.

Parliament passes Insurance Laws (Amendment) Bill, 2015
Parliament has passed Insurance Laws (Amendment) Bill, 2015. It was first passed in Lok Sabha on 4 March 2015 and later in Rajya Sabha on 12 March 2015. In both the houses the bill was passed by voice vote. The amendment bill replaces ordinance promulgated in this regard and aims to bring improvements and revisions in the existing laws relating to insurance business in India. The bill also seeks to remove archaic provisions in previous laws and incorporate modern day practices of insurance business that are emerging in a changing dynamic environment, which also includes private participation. The amendment bill hikes Foreign Direct Investment (FDI) cap in the insurance sector to 49 percent from present 26 percent. It also adds provision for the establishment of Life Insurance Council and the General Insurance Council. These councils will act as self-regulating bodies for the insurance sector. The bill also grants permission to PSU general insurers to raise funds from the capital market and increases the penalty to deter multilevel marketing of insurance products.

IMF increased India growth forecast to 7.2% for current fiscal
International Monetary Fund (IMF) has increased India's growth forecast to 7.2% for the current fiscal. Last year, IMF had projected that India would grow at 5.6 per cent in the current fiscal, and 6.4 per cent in the next. The new forecasts have taken into account a revised methodology adopted by India earlier this year for calculating the GDP figures, about which IMF said that the country has "improved the way it measures economic output".

Kumar Sangakkara creates record by scoring four consecutive ODI centuries
Sri Lankan cricketer Kumar Sangakkara became first batsman to score four consecutive one-day international (ODI) centuries in a Cricket World Cup. He achieved this feat by hitting 4th century by scoring 124 runs in a match against Scotland in the Pool A of ICC Cricket World Cup 2015 in Hobart, New Zealand. Previously, many batsmen had registered 3 consecutive ODI centuries along with Kumar Sangakkara. They are Ross Taylor (New Zealand), Quinton de Kock (South Africa), Zaheer Abbas (Pakistan), Herschelle Gibbs (South Africa), Saeed Anwar (Pakistan), AB de Villiers (South Africa).

UAE to host AFC Asian Cup in 2019
United Arab Emirates has won the bid to host the 17th edition of Asian Football Confederation (AFC) Asian Cup in 2019.  AFC Asian Cup is an international football tournament which is organised by the Asian Football Confederation (AFC). The tournament will be held in three cities of UAE; Abu Dhabi, Dubai and Al-Ain. Earlier, UAE hosted the  AFC Asian Cup in 1996, and this will be the second time when UAE will host the tournament in 2019.

Mr. Veerappa Moily selected for Saraswati Samman 2014

Senior Congress leader and Former Union Minister Mr. M. Veerappa Moily will receive the Saraswati Samman 2014 for his Kannada poem ‘Ramayana Mahanveshanam’. The award would make Mr. M. Veerappa Moily the second Kannada author to receive the honour after S. L. Bhyrappa (2010). ‘Ramayana Mahanveshanam’ was first published in 2007 in Kannada and later was translated into English, Hindi, Telugu and Tamil. The poem explores the ‘Ramarajya’ or the true principle of the ‘ideal State’ from a secular and modern point of view.

Solar Impulse 2- world’s first solar-powered aircraft on global journey lands in Ahmedabad
World’s first solar powered aircraft on global journey- Solar Impulse 2 successfully landed in Ahmedabad, Gujarat. The aircraft was piloted by Swiss pilots Bertrand Piccard and Andre Borschberg from its first halt Muscat, Oman.

Three French sports personalities died in a helicopter crash in Argentina
Three French sports personalities are among 10 people killed in a helicopter crash in Argentina. The incident took place when the two helicopters collided during filming near Villa Castelli, about 1,170km (720 miles) from Buenos Aires, according to local officials. In the accident three sports personalities of France died which included the famed sailor Florence Arthaud, who in 1990 broke the record for crossing the North Atlantic alone; the swimmer Camille Muffat, who won three medals at the 2012 Olympics in London; and the boxer Alexis Vastine, who won a bronze medal at the 2008 Olympics in Beijing.


Word of the Day

Munificent::
characterized by or displaying great generosity.

Word usage:
The munificent industrialist thought he should give back to the society at least a part of what he had got from it. So he set up a modern hospital where the poor are treated free.

Synonyms: liberal, hospitable etc.

Antonym: frugal

Meaning in Hindi: उदार 

RRB Vacancies: Telangana Grameena Bank

Telangana Grameena Bank, a Telangana based RRB invites applications from Indian citizens, for the post of Officers (Generalists and Specialists) in Scale III, II and I and Office Assistant (Multipurpose) from Indian citizens who have appeared at the Common Written Examination for RRBs conducted by IBPS in September / October 2014 and declared qualified.

Last date to apply: 27/03/2015.
Detailed Notification:
http://www.tgbhyd.in/adminpanel/tender/Ad%20for%20RRBs-2014-15%20FINAL.pdf

Apply online:

Monday, 9 March 2015

IBPS Clerical CWE-IV Scores of Qualified Candidates Declared

IBPS has declared the scores in the online test of the candidates shortlisted for the interview process of Clerical CWE-IV.

To view the score click http://ibps.sifyitest.com/cweclivfeb15/login.php?appid=dlkdamikefnksflaahs 

Word of the Day

Intimidate::
1. To make timid; fill with fear
2. To coerce or deter, as with threats

Word usage:
1. The size of the opposing players intimidated us.
2. The police intimidated the suspect into signing a false statement.


Synonyms: frighten, scare, bully etc.

Antonym: encourage

Meaning in Hindi: धमकाना

News and Updates - March 09, 2015

Carolina Marin wins Women’s Singles Title in All England Open Badminton Championships 2015

Carolina Marin Martin of Spain has won the prestigious Women’s Singles Title in the All England Open Badminton Championships 2015. In the final match she defeated India’s Saina Nehwal by score of 14-21, 21-16, 21-7. With this victory, Carolina Marin became the first Spanish player to win this prestigious title. It should be noted that Saina Nehwal is first Indian woman badminton player to reach finals of All England Badminton Championship.

Veteran journalist Vinod Mehta dies at 73
Vinod Mehta, the witty and irreverent former editor of Outlook who passed away on Sunday in New Delhi. He was 73. Mehta was editor of Outlook, the weekly news magazine owned by businessman Rajan Raheja, for 17 years, before giving up his role as editor-in-chief and taking charge of the largely ceremonial editorial chairman’s position at the Outlook group in 2012. An influential, long-time editor, Mehta was credited with starting a clutch of newspapers before launching Outlook. He first landed the job of an editor in 1974 at Debonair, a Mumbai-based men’s magazine. Later, he edited India’s first weekly paper, Sunday Observer, followed by The Indian Post, The Independent and The Pioneer.

RBI eases norms for home loans for up to Rs. 10 lakh
Giving a boost to affordable housing, the RBI eased the norms for home loans for up to Rs. 10 lakh by allowing banks to include stamp duty and registration charges to the cost of a unit. These charges form around 15% of the cost of the house and place a burden on borrowers. “With a view to encourage availability of affordable housing to such borrowers, it has been decided that in cases where the cost of the house does not exceed Rs. 10 lakh, banks may add stamp duty, registration and other documentation charges to the cost of the unit for calculating LTV (loan to value) ratio,” RBI said in a notification. As per the current practice, banks do not include stamp duty, registration and other documentation charges in the cost of housing property. “It has been brought to our notice that these amounts form around 15% of the cost of the house and place a burden on the borrowers from economically weaker sections (EWS) and low income groups (LIG),” RBI said while easing the norms. The RBI also said that in cases of projects sponsored by government, statutory authorities, banks may disburse the loans as per the payment stages prescribed by such authorities, even where payments sought from house buyers are not linked to the stages of construction.

News Corp acquires VCCircle
New York-headquartered News Corporation has signed a definitive agreement to acquire India’s VCCircle Network for an undisclosed sum. The deal is expected to close in March. The VCCircle network includes business news website covering developments in the mergers and acquisition space VCCircle, financial data platform VCCEdge.com, tech startup-focused news portal Techcircle.in and VCCircle Training. The deal also includes premium-content-driven conference business, News Corp said in a statement.

Kent RO’s WASH campaign for rural areas
Kent RO System Ltd, one of the largest water purifier brands in the country, will support about 8,500 rural population through a project called WASH — Water, Sanitation and Hygiene — covering six States and eight villages. The project aims to help the children and women from rural areas having negligible access to safe drinking water, toilets and sanitation, says a company press release. Safe drinking water, awareness about sanitation, hygiene practices, systematic disposal of garbage and prevalence of water borne diseases are some of the thrust areas to be addressed through the project. The six-month long campaign WASH will be executed in association with the Art of Living in villages of Uttar Pradesh, Uttarakhand, Andhra Pradesh, Odisha, Kerala and Maharashtra. Kent RO and the Art of Living have entered into a mutual agreement for the execution and implementation of this campaign. Kent RO will spend Rs. 1 crore on providing necessary drinking water, sanitation and toilet facilities to the villagers, while Art of Living will help in making these facilities self sustained.

Apollo Hospital opens 200-bedded hospital in Nellore
Apollo Hospitals has entered the Tier II town of Andhra with the launch of a 200-bedded Apollo Specialty Hospital (ASH) in Nellore. Andhra Pradesh N Chandrababu Naidu inaugurated the facility, equipped with virtual ICU and Telemedicine Technology. It is expected to function as a one-stop solution for advanced medical care benefiting people in Nellore and nearby regions of Nellore, Prakasam, Kadapa and Chittoor. Prathap C Reddy, Chairman and Founder, Apollo Group of Hospitals said, “While there has been tremendous progress in healthcare administration in urban areas, increasing penetration even in Tier II cities is a key task at hand and we are very keen on realising this using all tools at our disposal. Our eICU and digitised systems will play a crucial role in transforming rural healthcare and we will continue to implement them in our future endeavours in the State.”

TCS to construct 860 girls’ toilets in schools by 2015 end
Country’s largest software exporter TCS said it has completed a survey of 1,100 schools allotted to it for installing sanitation facilities for girls and will start the first phase of construction by end of this month. Under the first phase, it will be building toilets in 860 schools spread across five districts of Andhra Pradesh, eight of Telangana and two of Bihar, the company said in a statement. The work will finish by end of the year, it added. The company, which had committed Rs. 100 crore to construct toilets for girls under Prime Minister’s flagship ’Swachch Bharat’ mission, said it has identified a modular superstructure design and build for the toilet unit. For the maintenance of the toilets, it has tied up with non governmental organisations and is also in advanced stages of negotiations with consumer care companies to provide hand wash products and sanitary napkins for personal hygiene and janitorial supplies for toilet cleaning. TCS is one of the first companies, along with others like Bharti Airtel, Vedanta and L&T, among others, to commit resources for Modi’s pet project launched in August last year.

Kumar Sangakkara announces retirement from Test cricket
Former Sri Lankan cricket captain and ace batsman Kumar Sangakkara on 8 March 2015 announced that he will retire from Test cricket after playing three-match series against India in August 2015. Sangakkara already has retired from One-Day International (ODI) and Twenty-20 cricket. He had retired from Twenty-20 cricket format after Sri Lanka won the T20 World cup in 2014.  While, he had announced to retire from ODI cricket format after ongoing ICC World Cup 2015. At present, Sangakkara is fifth highest run scorer in Test cricket. He has scored 12,203 runs in 130 Test matches at an average of 58.66.

India lowest among 16 Asia-Pacific countries in economic parity for women
According to the Mastercard's latest Index of Women's Advancement, India is the lowest among 16 Asia Pacific countries in economic parity for women.  Indian women stand even lower than their counterparts from Bangladesh and Sri Lanka, the survey said. India (44.2), Bangladesh (44.6) and Sri Lanka (46.2) had scores below 50, indicating that much more needs to be done to achieve gender parity. Across the region, New Zealand had the highest overall Index score of 77, followed by Australia (76), the Philippines (72.6) and Singapore (70.5). A score under 100 indicates gender inequality in favour of males while a score above 100 indicates inequality in favour of females. A score of 100 indicates equality between the sexes.

Stree Shakti Puraskar 2014
President of India Mr. Pranab Mukherjee on 8 March 2015, awarded Stree Shakti Puraskar 2014 to six illustrious women on International Women’s Day for their distinguished services for the upliftment of women. The award was given in six categories named after eminent women personalities in the Indian history. They are Kannagi, Rani Gaidinliu Zaliang, Rani Ahilyabai Holkar, Rani Lakshmibai, Rani Rudramma Devi and Mata Jijabai. These women are famous for their personal courage and integrity.

Awardees of Stree Shakti Puraskar 2014 are

1.    Rani Gaidinliu Zeliang Award: Sister Mariola (Rajasthan).
2.    Rani Lakshmibai Award: Seema Prakash (Madhya Pradesh).
3.    Rani Rudramma Devi Award: Astha Sansthan- NGO (Rajasthan).
4.    Mata Jijabai Award: Chandraprabha Bokey (Maharashtra).
5.    Kannagi Award: P. Bhanumati (Kerala).
6.    Devi Ahilyabai Holkar Award: Anay Rahit Zindagi- NGO (Goa).

Haryana Government launches Aapki Beti Humari Beti scheme
Haryana Government on the eve of International Women’s Day i.e. 8 March launched ‘Aapki Beti Humari Beti’ Scheme. It was launched by Haryana Chief Minister Manohar Lal Khattar at Panchkula district of state. This scheme aims to combat the problem of declining child sex ratio in Haryana. It will be implemented in in both rural and urban areas of the state. This scheme covers first-born girl child in Scheduled Caste (SC) and Below Poverty Line (BPL) families on or after January 22, 2015. The girl child born in these families is eligible to receive Rs. 21,000. It also covers all second girl child born on or after January 22, 2015 of all families. In this case the girl child is eligible to receive Rs. 21,000. While, in families where twin girls or multiple girls are born, each girl child will get Rs. 21,000. Along with this scheme, Haryana Government also launched ‘Haryana Kanya Kosh’ for the welfare and development of girl child and women in the state. Multi Sectoral Nutrition Programme was also launched to address the maternal and child nutrition in five districts of state. They are Narnaul, Palwal, Mewat, Kaithal and Fatehabad.

Muthoot Finance bags award
Muthoot Finance has bagged MoneyGram's 'Best Sub-Agent in South Asian Region' for the third consecutive year. Muthoot Finance's money transfer service is recognised as the largest payout centre in India with two million transfers being executed annually. With 20 lakh transactions worth Rs. 3,500 crore across all its branches last year, the service continues to grow at a rapid rate, a statement issued here said.

Kathmandu-Varanasi bus service launched
The Government of Nepal and India has launched a direct bus service from Kathmandu and Varanasi. The bus service was launched under the ambit of Motor Vehicle agreement between Nepal and India signed during 18th SAARC summit. This will be the second bus service between Nepal and India, after the one connected between Kathmandu and New Delhi. Both the countries are also planning to launch another bus service between Kathmandu and Patna in future.

NASA’s Dawn space probe completes its orbit around dwarf planet Ceres
NASA’s Dawn space probe has completed its orbit around dwarf planet Ceres which is the largest object in the Solar System between Mars and Jupiter. With the completion of orbit, Dawn probe has become first spacecraft to visit dwarf planet. Dawn has taken 7.5 years to reach the orbit of Ceres. Scientists are hoping to glean information from the Ceres which can tell them about the Solar System’s beginnings after its formation four and a half billion ago. Earlier during its journey from 2011 to 2012, the spacecraft also had explored and surveyed the giant asteroid Vesta. It had delivered new insights and thousands of images from the asteroid.

Prime Minister Narendra Modi named among 30 most influential people on internet: Time Magazine
Time Magazine has named Indian Prime Minister Narendra Modi among the list of 30 most influential people on the internet. As per Time magazine PM Narendra Modi has around 38 million followers on social networking sites Twitter and Facebook. He is ardent user of social media and uses it to communicate and reach to India’s 200 million-plus online population directly. However PM Narendra Modi is behind US President Barack Obama who is also in the list and most-liked world leader on Facebook and the most-followed on Twitter. The list also includes British author J K Rowling of the Harry Potter series, singers Beyonce and Taylor Swift. Time Magazine‘s 30 most influential people list on internet was prepared by analyzing the social-media followings, site traffic and overall ability to drive news of famous people.

"Shrimad Bhagwad Gita" to be introduced in Haryana schools
The Haryana government is planning to introduce "Shrimad Bhagwad Gita" for students of all classes in schools after the recommendation of the State Council of Educational Research and Training. The motive behind introducing Shrimad Bhagwad Gita" in schools is to inculcate values among students and improve the education system, said Haryana Chief Minister.

Prime Minister inaugurates two 600 MW Thermal Power Units in Khandwa, Madhya Pradesh
Recently, Prime Minister Narendra Modi inaugurated two units each of 600 Mega Watt (MW) capacity in Shree Singaji Thermal Power Project in Khandwa district of Madhya Pradesh. Shree Singaji Thermal Power Plant is a coal-fired project. It is owned and developed by Madhya Pradesh Power Generation Company Limited (MPPGCL). The two units were inaugurated as part of the first phase of the project which added additional 1200 MW power capacity. This additional power capacity will help to increase the thermal power generation capacity of the State to 4500 MW and will play key role state government’s Atal Jyoti Abhiyan which is aimed at providing 24 X 7 power supply. Apart from this inauguration, Prime Minister Narendra Modi also laid the foundation stone of two units each of 660 MW of the same power plant as part of second phase.

Kerala Assembly speaker G Karthikeyan passes away
Senior Congress leader and Kerala Assembly Speaker G Karthikeyan passed away in Bangalore, Karnataka. He was 66. Karthikeyan died while he was undergoing treatment in Bangalore after he was diagnosed with liver cancer.

Tuesday, 3 March 2015

News and Updates - March 03, 2015

Pact binds RBI to inflation target

The Centre and the Reserve Bank of India signed an agreement under which the central bank will prioritise controlling price rise above the other objectives of the monetary policy — interest rates and the foreign exchange rate. The agreement formalised a policy the Reserve Bank had been following since January 2014, which is a significant development in monetary policy formulation championed by Governor Raghuram Rajan. The Reserve Bank is committed to bringing inflation below 6 per cent by January 2016. The consumer inflation target has been set at 4 per cent, with a band of plus or minus 2 percentage points, for the financial year 2016-17. Under the agreement, the central bank will be deemed to have missed its target if consumer inflation remains above the 6 per cent level for three consecutive quarters during 2015-16 or if it remains below 2 per cent for three consecutive quarters during the year 2016-17. The bank will have to explain to the government the causes, and what steps it intends to take to steer inflation back within a given time if it misses the target.

RBI report calls for raising foreign banks’ priority sector lending target
The Reserve Bank of India (RBI) released a report on revisiting priority sector lending (PSL) norms, which proposes an increase in the PSL target for foreign banks, while introducing new sectors into the definition of priority sector. As part of the suggestions, the working group says the PSL target for all banks, including foreign banks, should be at 40% of adjusted net bank credit. While domestic banks already lend 40% of credit to priority sectors, foreign banks lend 32%. Though the group has increased the PSL obligations for foreign banks, they have been given time to achieve the new targets. “Foreign banks with 20 and above branches may be given time up to March 2018 in terms of extant guidelines and submit their revised action plans. Other foreign banks with less than 20 branches, may be given time up to March 2020 to comply with the revised targets as per action plans submitted by them and approved by Reserve Bank,” the report said. The group also suggests that new sectors be added to the priority sector category, including exports and renewable energy.

Sun Pharma buys GSK’s Opiates business in Australia
India’s largest drugmaker Sun Pharmaceutical Industries Ltd signed an agreement with GlaxoSmithKline Plc (GSK) to purchase its Opiates business in Australia for an undisclosed amount. GSK Opiates business including related manufacturing sites in Latrobe (Tasmania) and Port Fairy (Victoria) and its portfolio products along with inventory will transfer to a subsidiary of Sun Pharma, the companies said in a joint statement. The product portfolio consists of poppy-derived opiate raw materials that are primarily used in manufacture of analgesics for the treatment of moderate to severe pain. All employees from both sites will also be offered employment by Sun Pharma with the Opiates business.

Namibian President Hifikepunye Pohamba wins Mo Ibrahim prize for African leadership 2014
Hifikepunye Pohamba, outgoing Namibian President has won the world’s most valuable individual award- Mo Ibrahim prize for African leadership for year 2014. Pohamba was born in 1935 in Namibia and was a former rebel who fought for his country’s independence. He has served as Namibian President two terms. For first time he was elected in 2004 and again in 2009. Now, he is due to be succeeded by elected President Hage Geingob.

Ola acquires TaxiForSure in $200-mn deal
Ola Cabs has acquired its smaller rival in the taxi aggregator space, TaxiForSure, in a $200-million (Rs 1,200 crore) cash and equity arrangement. This is the first major acquisition in the taxi-aggregator space in India. Ola, already a leader in the personal transportation market with a valuation exceeding $1 billion (Rs 6,000 crore) and over 100,000 vehicles on its platform, will become a stronger entity through TaxiForSure’s operator-led model. The latter operates in 47 cities, with at least 15,000 vehicles on its platform.

Jagmohan Dalmiya becomes BCCI President
Jagmohan Dalmiya has unanimously been elected President of the Board of Control for Cricket in India today. He became the BCCI president for the second term. He has previously served as President of the International Cricket Council for the three years from 1997 to 2000. Anurag Thakur, who was joint-secretary before has become the new secretary after edging out Sanjay Patel 15-14.

Ranjan Dhawan takes additional charge as MD & CEO of BOB
Ranjan Dhawan, the senior most executive director of the bank has been given additional charge of Managing Director and Chief Executive officer of Bank of Baroda. He will serve as the MD & CEO for three months. The post of full-time Managing Director and CEO has been vacant since July, when the then Chairman and Managing Director S S Mundra was appointed RBI Deputy Governor.

World’s first electric satellites successfully lifted off by SpaceX rocket
World’s first electric satellites were successfully lifted off by a Space Exploration (SpaceX) Technologies rocket from Cape Canaveral Air Force Station, United States. The rocket was carrying two all-electric commercial satellites built by Boeing. The satellites are owned by the French satellite provider Eutelsat and Asia Broadcast Satellite (ABS). Eutelsat’s satellite is part of its 35-member commercial network. It will provide services like mobile, internet, video and other communications services to expand its reach into the Americas. While, ABS new satellite will serve its customers in Africa, Europe and the Middle East.

Jagmohan Dalmiya becomes BCCI President
Jagmohan Dalmiya has unanimously been elected President of the Board of Control for Cricket in India today. He became the BCCI president for the second term.  He has previously served as President of the International Cricket Council for the three years from 1997 to 2000. Anurag Thakur, who was joint-secretary before has become the new secretary after edging out Sanjay Patel 15-14.

Arun Singh named as new Indian Ambassador to US
Senior IFS officer, Arun Singh has been named as new Indian Ambassador to US. Prior to this announcement he was serving as India’s Ambassador of France. Arun Singh will replace S Jaishankar, who was appointed as Foreign Secretary.

Chelsea lifted English League Cup
English Premier League leaders Chelsea defeated Tottenham Hotspurs by 2-0 in the final to lift the English League Cup trophy. With this win, Chelsea won five League Cups, matching Aston Villa for second-most behind Liverpool's eight.

Nadal lifts 2015 Argentina Open title
Rafael Nadal defeated Juan Monaco by 6-4, 6-1 to win the Argentina Open, lifting his first title of 2015. With this win, Nadal has won 65 titles in his career and has become the fifth player in the world in terms of number of titles won. He now stands behind Jimmy Connors (109), Ivan Lendl (94), Roger Federer (84) and John McEnroe (77).

Mufti Mohammad Sayeed sworn in as Chief Minister of Jammu & Kashmir
Mufti Mohammad Sayeed on 1 March 2015 was sworn-in as Chief Minister of Peoples Democratic Party-Bhartiya Janta Party (PDP-BJP) coalition government of Jammu & Kashmir. As a person he became 9th Chief Minister of J&K and 12th Chief Minister as tenure wise. While Nirmal Singh of BJP has been appointed as the Deputy Chief Minister of the state.