Wednesday, February 25, 2015

Starred Articles

Rs 1,500 crore nuclear liability pool gets approval from IRDA
Politics & Government > Nuclear liability pool > 23 Feb
The Insurance sector regulator IRDA has approved the Rs 1,500 crore nuclear liability pool that will provide risk cover to nuclear reactors. The rising demands for covering the reactors prompted the insurance companies to create a separate pool within India. Although the insurance companies have not yet come up with ways to raise the money for the set-up, the IRDA is looking forward to deal with it in a favorable manner. GIC, the domestic re-insurer, would be the nodal agency for creating a nuclear liability pool with a corpus of Rs 1,500 crore. It is in the process of pricing and underwriting the policies.

Oscar 2015 winners announced, American black comedy Birdman wins best picture
Awards > Oscars > 23 Feb
The 87th Academy Awards presented by the Academy of Motion Picture Arts and Sciences was held on 22nd February at the Dolby Theatre in Hollywood, Los Angeles. The Best Picture award went to “Birdman”, the Best Actor award went to Eddie Redmayne for “The Theory of Everything” and Julianne Moore was adjudged Best Actress for her role in “Still Alice”. Best Supporting Actor and Actress went to J.K. Simmons and Patricia Arquette for their roles in “Whiplash” and “Boyhood”. Achievement in Costume Design went to Milena Canonero for “The Grand Budapest Hotel”. Polish film “Ida” won the Best Foreign Language Film and became the first Polish film to win the award. Best Visual Effects went to “Interstellar”, Best Cinematography to Emmanuel Lubezki for “Birdman”, Best Original Score to Alexandre Desplat for "The Grand Budapest Hotel", Best Original Song to "Glory" from "Selma" and Best Documentary Feature to "CitizenFour".

Ajay Singh takes over from Marans as SpiceJet promoter
Corporate > SpiceJet > 23 Feb
SpiceJet declared Ajay Singh as its new promoter, following an ownership transfer between Marans and Singh. Singh established his position as a crucial member of the revival plan of SpiceJet, after acquiring a whole of 58.46 per cent stake from Kalanithi Maran and Kal Airways Private Limited. The company is set to raise Rs 1,500 crore through issuance of fresh securities under this revival plan. The deal boosted the shares of the airline as they rose over one per cent to Rs 24.35 on the BSE in early morning trade. The deal has already received clearance from the Competition Commission of India (CCI).
As per the revival plan, SpiceJet would see a capital infusion of Rs 1,500 crore from Singh in installments by April.

UN climate head Rajendra Pachauri quits
World > Rajendra Pachauri > 24 Feb
After maintaining his position as the head of the UN climate change panel (IPCC) for 13 years, Rajendra Pachauri resigned, succumbing to sexual harassment allegations. A 29-year old women working in his office in Delhi had registered a complaint against him saying the harassment included unwanted emails as well as text and phone messages . He had however denied the allegations, saying his email account and mobile phone were hacked. In a letter drafted to the UN secretary general, Mr. Pachauri wrote that under such circumstances, he wouldn't be able to provide "strong leadership and dedication" to the panel and thus he has decided to step down as chair of the IPCC.

Others

PDP-BJP tie-up done long ago, says Omar Abdullah
Politics & Government > Kashmir > 22 Feb
According to the statement of Jammu & Kashmir former chief minister Omar Abdullah, PDP-BJP coalition, which emerged as a breaking news, was done long ago. He added that the friction between PDP and BJP was a pretentious affair put up by PDP patron Mufti Sayeed to undo the damage in Valley. Hakeem Yasin, President of the Peoples Democratic Front agreed with the claim calling BJP an anti-Kashmir and non-secular party. The alliance has been facing criticisms and is causing a stir among various political leaders. It remains to be seen if the coalition meets the economic, social and political aspirations of the people of the state.

Nitish Kumar sworn-in as Bihar Chief Minister
Politics & Government > Bihar > 22 Feb
JD(U) leader Nitish Kumar took oath as Bihar Chief Minister, resuming his position after a nine-month long political drama. Kumar had quit after JD(U)’s debacle in the general elections and given his power to Jitan Ram Manjhi. Howerver, Manjhi refused to step down in order to make way for Kumar when he decided to take over the position after eight months. Manjhi had decided to prove his majority in Bihar assembly by taking a floor test in order to maintain his position. But, he quit as Chief Minister just before the test saying his ministers had received threats messages. BJP who was believed to support Manjhi has sharply criticized swearing-in of Nitish Kumar.

HSBC Chief kept millions in Swiss account
World > HSBC > 23 Feb
The Guardian newspaper has claimed that the HSBC chief executive Stuart Gulliver held about USD 7.6 million in a Swiss account in the name of Worcester Equities Inc, a Panama-registered company. A representative for Gulliver responded to the claim saying that the chief executive had used a Swiss account to hold his bonus payments prior to 2003, when he moved from Hong Kong to London. This new information adds to the stream of so-called allegations of “Swissleaks” doing the rounds. Gulliver who had earlier promised to reform the scandal-hit bank has now come under the radar himself.

Arab countries should fight against ISIS, says Egyptian President
World > ISIS > 23 Feb
The Egyptian President has said in a statement that it is time for Arab countries to form a joint coalition force against ISIS. As Egypt gears up for a major battle against ISIS in Libya, Jordan and the United Arab Emirates have offered military help. The U.S. President Barack Obama had called other countries to participate in the fight against ISIS, following which, El-Sisi made the statement. Presently the U.S. Is leading a coalition to fight ISIS by launching series of airstrikes over Syria and Iraq, of which 80% are by the U.S and 20% by other coalition countries. However, it is uncertain if the airstrikes alone is capable of eliminating ISIS.

Conversion was Mother Teresa’s real aim, says RSS chief Mohan Bhagwat
Politics & Government > Conversion > 24 Feb
Addressing an audience at a function, RSS chief Mohan Bhagwat made a controversial statement, saying that the prime motive behind Mother Teresa's service to the destitute was converting them to Christianity. At the function, former DGP of Border Security Force Prakash Singh, too, criticized Mother Teresa. Following this incident, the Shiv Sena supported RSS chief Bhagwat's remark on Mother Teresa and said that all missionaries came to India only with the objective of converting people to Christianity. The opposition has condemned Bhagwat's statement, demanding an apology from him.

Rail Budget to have number of environment-friendly initiatives
Politics & Government > Rail Budget > 24 Feb
Railway Minister Suresh Prabhu is gearing up for the announcement of Rail Budget including number of green initiatives like setting up of recycling plants and solar energy generation plants to name a few. The Minister is intending to introduce maximum usage of alternative fuel in rail operations in the upcoming rail budget. Besides proposals for building water treatment plants and recycling plants, plans to set up a plant for producing energy from waste, a first of its kind exercise in the public transporter, is also expected from the budget. A new integrated management system certification of all major workshops and production units covering quality, occupational health and safety will also be announced. There will be a separate chapter in the Rail Budget listing a series of environment initiatives.

Greek government drafts summary of reforms
World > Greece > 24 Feb
The Greek government led by Alexis Tsipras, has reached a settlement with the eurozone leaders by laying down a set of reforms in exchange for agreeing to a bailout extension. The outline summary of reforms consists of plans to combat tax evasion, trim the civil service and overcome the issue of fuel and tobacco smuggling. Additionally, it included a commitment to address what Syriza has called Greece's "humanitarian crisis". The creditors' verdict on the reforms is awaited before taking the proposals further to a Eurogroup discussion. The reforms are aimed at fulfilling pre-election pledges to help those hit by years of economic crisis. The agreement was made taking into account the demands of the creditors and the needs of austerity-weary voters.

Commotion in Parliament over NDA's Land Acquisition Bill
Politics & Government > Land Acquisition Bill > 24 Feb
The land acquisition bill is facing issues in the Parliament, owing to the differences between BJP-led National Democratic Alliance and the opposition parties. While the opposition parties protested aginst the land acquisition amendment bill 2015, finance minister Arun Jaitley defended NDA's ordinance route. He said that government is within its rights to take the ordinance route. However, the BJP-led NDA will require the support of opposition parties in order to pass the bill in Rajya Sabha. The Opposition has remained firm that the ordinance, along with five more, would not be allowed to go through Parliament. These ordinances would expire on March 20, if not passed during this budget session. Things got worse when Rashtriya Swayamsevak Sangh (RSS)-affiliated Bharatiya Kisan Sangh (BKS) also raised objection to the ordinance. Anti-corruption activist Anna Hazare and Delhi Chief Minister AAP's Arvind Kejriwal have also sat in protest against the Land Acquisition Bill.

Spouses of H-1B visa holder will now get US permits
World > US Visa > 24 Feb
In a move that brings a big relief to Indians, spouses of certain high-tech foreign workers will now be allowed to apply for work permits in the US. This will simplify the ordeal faced by families to obtain the green card. The rising concerns of tech-companies forced the US government to lift the cap on H-1B visas and helped accelerate the processing of green cards. The regulation for spouses of H-1B visas was first proposed last year and declared as part of President Barack Obama's package of executive actions on immigration. Given the prolonged waiting period for green cards, Australia and Canada are also making similar offers to spouses of H-1B visa holders.


Tuesday, February 24, 2015

Starred Articles

Project-17A worth 8 billion US dollars gets Union Government nod
Politics & Government > Warships > Feb 18
Project-17A aimed at building the country's most advanced warships has got the approval of the union government. Seven frigates will be built indigenously, under this project with features that will help them dodge detection. The frigates will be built at government shipyards in Mumbai and Kolkata.
India has become the world's biggest arms market due to its dependence on expensive imports. Make in India campaign conceptualized by PM Narendra Modi is aimed to reduce this dependency and build a domestic defence industrial base. Project-17A is a part of this campaign and will have significance in combating the rising presence of the Chinese Navy in the Indian Ocean.

CCI approves Kotak Mahindra-ING Vyasa 15,000 crore merger
Bank Specific > Kotak Mahindra – ING Vyasa > Feb 21
The merger between Kotak Mahindra Bank and ING Vysya Bank has received green signal from the Competition Commission of India (CCI). The approval was given after analyzing the effect of the proposed Rs 15,000-crore deal, on competition in India. Multiple relevant markets such as deposits, home loans, agricultural banking and card business were taken into account by the market regulator to come to a conclusion. The deal is about to create the country's fourth largest private sector lender.

Nitish Kumar sworn-in as Bihar Chief Minister
Politics and Government > Bihar > Feb 22
JD(U) leader Nitish Kumar took oath as Bihar Chief Minister, resuming his position after a nine-month long political drama. Kumar had quit after JD(U)’s debacle in the general elections and selected Jitan Ram Manjhi as his successor. However, Manjhi refused to step down in order to make way for Kumar when he decided to take over the position after eight months. Manjhi had decided to prove his majority in Bihar assembly by taking a floor test in order to maintain his position. But, he quit as Chief Minister just before the test saying his ministers had received death threats.
The BJP which was believed to have supported Manjhi has sharply criticized the swearing-in of Nitish Kumar.

Oscar 2015 winners announced, American black comedy Birdman wins best picture
Awards > Oscars > Feb 23
The 87th Academy Awards presented by the Academy of Motion Picture Arts and Sciences was held on 22nd February at the Dolby Theatre in Hollywood, Los Angeles. The Best Picture award went to “Birdman”, the Best Actor award went to Eddie Redmayne for “The Theory of Everything” and Julianne Moore was adjudged Best Actress for her role in “Still Alice”. Best Supporting Actor and Actress went to J.K. Simmons and Patricia Arquette for their roles in “Whiplash” and “Boyhood”. Achievement in Costume Design went to Milena Canonero for “The Grand Budapest Hotel”. Polish film “Ida” won the Best Foreign Language Film and became the first Polish film to win the award. Best Visual Effects went to “Interstellar”, Best Cinematography to Emmanuel Lubezki for “Birdman”, Best Original Score to Alexandre Desplat for "The Grand Budapest Hotel", Best Original Song to "Glory" from "Selma" and Best Documentary Feature to "CitizenFour".

Others

'Soil Health Card' scheme for Indian farmers
Politics & Government > Agriculture > Feb 18
Aiming to improve productivity with proper use of nutrients and fertilizers, a centrally sponsored scheme called 'Soil Health Card' has been instituted for farmers. This centrally sponsored scheme will be launched by Prime Minister Narendra Modi at a function, which will be attended by Chief Ministers and Agriculture ministers of several states. At this function, progressive farmers will be felicitated by 'Krishi Karman Award'. The card will carry crop-wise recommendation of fertilizers required for farms of different soil types and other inputs to increase the productivity of individual farmers.

Snapdeal acquires luxury fashion site Exclusively
Corporate > Snapdeal > Feb 19
One of the country’s largest e-tailers Snapdeal.com has acquired luxury fashion site Exclusively which sells designer wear by Indian designers on its site. The deal was signed for an undisclosed amount and is expected to boost the fashion business of Snapdeal. The steep increase in demands for premium and luxury products in India was the driving force behind making this deal. According to the founder of Snapdeal, since the access to luxury brands is severely limited in our country, this acquisition will provide 40 million plus users access to the widest range of aspirational, high-end products and services Exclusively will continue to function as an independent site and is planning to add international labels to its portfolio soon.

New Zealand vs England: Brendon McCullum hits fastest World Cup fifty
Sports > ICC Cricket World Cup 2015 > Feb 20
New Zealand captain Brendon McCullum scored the fastest-ever World Cup fifty against England at Wellington. McCullum hit an 18-ball fifty with seven fours and four sixes, with New Zealand beating England by 8 wickets with 224 balls remaining. McCullum had earlier made another World Cup record by making a fifty of 20 balls against Canada in 2007.
His innings was also the equal third-fastest fifty in all one-day internationals, behind South Africa's AB de Villiers (16 balls) and Sri Lanka's Sanath Jayasuriya (17 balls).

International Mother Language Day observed on February 21
Days > International Mother Language Day > Feb 21
The world observed 15th International Mother Language Day 2015 on 21 February 2015. The day is celebrated to promote linguistic and cultural diversity and multilingualism. The celebration of International Mother Language Day was initiated by the General Conference of the United Nations Educational, Scientific and Cultural Organization (UNESCO) in November 1999. In 1952, students from Bangladesh had protested for recognition of their language, Bangla, as one of the two national languages of then Pakistan. They were shot and killed by police in Dhaka, the capital of what is now Bangladesh. This incident urged the United Nations General Assembly (UNGA) to call upon member states to promote the preservation and protection of all languages used by people of the world.

North-east tea growers to receive financial aid from SBI
Bank Specific > SBI Aid > Feb 21
Around 3,000 small tea growers in the North East will soon receive a financial aid of Rs 100 crore from State Bank of India. Tea growers having proper basic documents of their existing garden as per Tea Board of India norms will be eligible to receive the money. The finance provided is expected to help the development of tea growing business and the tourism sector as well; hence boosting the state's economy. The tea growers can utilize the money to establish mini-bought tea leaf factories and buy vehicles for transporting green leaves. Other new tea growing states such as Arunachal Pradesh, Nagaland and Meghalaya would be covered under this scheme too. In deference to Prime Minister Narendra Modi's initiative to develop the region, to make it 'organic' and a tourist destination, the SBI N-E Circle has planned to help the North East youths to undertake projects related to the tourism industry.

Kumble, Wilson inducted into ICC Hall of Fame
Sports > ICC Cricket World Cup 2015 > Feb 22
Former India captain Anil Kumble felt privileged at being inducted into the International Cricket Council Hall of Fame at the Melbourne Cricket Ground along with Australian legend Betty Wilson. Kumble becomes the fourth Indian to be included in the elite group, joining Sunil Gavaskar, Kapil Dev and Bishan Bedi. Anil Kumble was an outstanding international cricketer and a role model for millions of aspiring cricketers. A 77th inductee into the Hall of Fame, he has several test matches and various achievements in cricket, to his name. Joining the list of great luminaries is Wilson who is considered one of the greatest female cricketers of all-time and is the 78th inductee into the Hall of Fame.

Portal MADAD for consular grievances launched by government
Politics and Government > NRI Grievances > Feb 23
An online grievances monitoring system called MADAD has been launched by the Union Government, to redress the consular grievances of Indian citizens living abroad. They will be able to file their grievances online on the services offered by the Indian missions, posts, consulates and embassies abroad. MADAD aims to keep track of the grievances registered by people until they are addressed. It will work to ensure that the complaints are resolved in a short span of time and the pending cases are escalated and resolved immediately. MADAD is a joint effort of the Ministry of External Affairs (MEA) and Ministry of Overseas Indians Affairs (MOIA) and it is not a general helpline.

2nd and 4th Saturdays will be off for Public Sector Banks
Bank Specific > Bank offs > Feb 23
The apex bodies of bank management, The Indian Banks’ Association (IBA) and employee unions have reached an agreement that will allow public sector banks to remain closed on 2nd and 4th Saturdays. They will, however, work full-day on other Saturdays instead of half-day. The unions had earlier threatened to go on strike asking for 19% hike, five-day weeks, among other things. This compelled the India Banks’ Association (IBA) to increase the employees' wages by 15 percent along with changes in the working hours. The banks will have to shell out additional Rs 4,725 crore a year after the wage revision. RBI is yet to be informed about the same following which the changes will be enforced.

West Indies’ Chris Gayle scores first ever double century in World Cup
Sports > ICC Cricket World Cup 2015 > Feb 24
A first double century was made in World Cup innings by West Indies opener Chris Gayle against Zimbabwe in a Pool B clash. Gayle hit a total of 16 sixes in 147 balls before he was out for 215 off the last delivery of his side's innings. He became the first non-Indian to join the list of 4 Indian batsmen who scored a double century in One-Day Internationals (ODIs) in the history of cricket. He also created a record of maximum sixes, 16, in an ODI innings sharing the title with Rohit Sharma and AB de Villiers. Gayle along with Maron Samuels put on 372 - the highest ODI partnership record for any wicket, beating 331 shared by India's Rahul Dravid and Tendulkar against New Zealand at Hyderabad in 1999.


Thursday, February 19, 2015

Starred Articles

SC directs CBI to investigate SEBI and RBI in ponzi scams
India > Ponzi Scams > Feb 14
The Supreme Court has directed the Central Bureau of Investigation (CBI) to investigate the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI). According to reports, SEBI and RBI have come under the suspicion of intentionally disregarding those involved in multi-crore chit-fund scams across several states. The bench of judges referred to SC's last year's order directing the CBI to investigate the matter after thousands of people complained of losing Rs 10,000 crore through the Ponzi schemes. Besides the arrest of three Trinamool Congress (TMC) functionaries — West Bengal Transport Minister Madan Mitra, TMC Member of Parliament Srinjoy Bose and Kunal Ghosh —in the Saradha chit-fund scam, senior TMC leader and former railway minister Mukul Roy was also questioned by the CBI. While disposing of a PIL seeking a direction to CBI probe into Rs 700 crore ponzi scheme scam involving various firms, SC made it clear to the CBI that it will have to carry out investigations even if it does not have sufficient manpower to handle the cases.

Civil nuclear pact signed by Sri Lanka and India
World > Indo-Sri Lanka Nuclear Pact > Feb 16
A bilateral agreement on civil nuclear cooperation was made between India and Sri Lanka besides deciding to expand defence and security cooperation. At the meeting attended by Prime Minister Narendra Modi and Sri Lankan President Maithripala Sirisena, a commitment was made to find a solution to the fishermen issue by adopting a constructive and humanitarian approach. Apart from nuclear pacts, three other pacts pertaining to the field of agriculture and Sri Lanka's participation in the Nalanda University Project were signed too. Narendra Modi said that India was honoured that Sirisena had chosen the country for his first overseas destination after assuming charge. Expressing satisfaction with the results of the talks between the two countries, Modi said that the two countries are committed on exploring the potential of economic cooperation.

Deloitte Global to get new India-born CEO, Punit Renjen
Corporate > Deloitte > Feb 16
US-based accounting giant Deloitte Global has appointed India-born Punit Renjen as its new CEO. Renjen is currently the US business chairman and CEO of the group, and will take over as the role of Deloitte Global chief executive officer from June 1, becoming the first Indian-origin person to lead a 'Big-Four' audit firm. He has been with Deloitte for over 27 years and has held a number of leadership positions. He hails from Rohtak, Himachal Pradesh and left for US to pursue higher studies. After a rigorous and comprehensive nomination and member firm partner ratification process, which is carried out once every four years, Renjen was appointed as the leader.

Government builds 7.1 lakh toilets in the month of January as part of the Swacchh Bharat Abhiyaan
India > Governing > Feb 17
As part of the Swacchh Bharat Abhiyaan the Narendra Modi government was successful in building 7.1 lakh toilets in the month of January, the highest number achieved in a single month so far. According to government data 31.84 lakh toilets have been built in the period between April 2014 and January 2015 and the government's aim to construct 50 lakh toilets by the fiscal year end is on track. The Swacchh Bharat Abhiyaan aims to build 12 crore toilets with an estimated budget of 2 lakh crores over the next five years to make India 'Open Defecation Free' by the year 2019.

Others

Nawaz Sharif expresses disapproval over India's permanent UNSC seat
World > Permanent UNSC Seat > Feb 13
Pakistan President Nawaz Sharif reportedly told Barack Obama that India's permanent membership in the reformed UN Security Council is unacceptable to Pakistan. According to him, India has not complied with UN resolutions on Kashmir and has "not fulfilled the commitment to give the right of self-determination to people of Kashmir”. The US President had called Sharif and the alleged conversation, concerning regional stability and peace, happened over the phone. Sharif also expressed keen interest in obtaining the membership of the Nuclear Suppliers Group. Obama had visited India in January during which he had reaffirmed the US' position that India is ready for NSG membership.

47 Myanmar soldiers die in clashes with Kokang rebels
World > Myanmar > Feb 13
After days of fighting with minority ethnic group Kokang, 47 Myanmar soldiers lost their lives in the northern state of Laukkai. According to the government, 73 soldiers were injured, but no data about rebel and civil casualties was available. The Kokang rebels are known to use sophisticated weapons such as anti-aircraft guns, and government forces used aerial strikes to counter the rebel attack. It is also known that two other rebel groups joined the Kokangs to fight government forces, but the situation now is under control.

Kejriwal’s Janlokpal Bill may face obstacles even if passed by Delhi Assembly
India > Janlokpal Bill > Feb 13
The acceptance of Delhi’s Janlokpal Bill depends on the acceptance of his demand for full statehood for Delhi, as he wants powers in order to gain authority to probe officials of the Delhi Police as well as Delhi's various municipal corporations. The Bill cannot probe these authorities now as they currently report to the Centre and the situation won't change unless Delhi gets full statehood. The 33 page Lokpal bill, which was presented by Kejriwal in the Delhi assembly in his previous term as Delhi CM has been found to have three major contradictions with the Central Lokpal and Lokayuktas Act and NCT Act, 1991. According to various sources it is not possible to enact the bill as per Kejriwal's wishes as it would require major amendments to the acts mentioned above.

Egypt bombs Islamic State targets in Libiya after ISIS beheads 21 Egyptian Christians
World > Terrorism > Feb 16
After the Islamic State (IS) released a video showing the beheading of 21 Egyptian Christians by IS militants, Egyptian fighter jets bombed specific IS targets in Libya. The pre-dawn strike hit militant camps, training sites and weapons storage areas in Libya, which is facing civil conflict and has become a haven for militant groups. Libyan air-force took part in the operation too, where the coastal city of Derna was targeted, which is considered as a base for IS militants. Egypt has called on the U.S. led coalition fighting Islamic State in Iraq and Syria to broaden the scope of their operations to include Libya.

PM Modi vows India will shed the top weapons exporter tag
India > Defence > Feb 18
At the Aero India Expo, a major aviation industry conference, PM Modi vowed that India would shed the tag of being the biggest importer of weapons and would like to produce 70% of its armoury by the end of the decade, which currently stands at 40%. The PM's statement comes in the light of India's willingness to boost domestic manufacturing, which would also create more jobs for the people.

Telecom operators deposit Rs 20,435 crore for spectrum auction
Economy > Spectrum Auctions > Feb 18
The upcoming spectrum auction has garnered around Rs 20,435 crore from eight telecom operators. Reliance Jio Infocom submitted the highest EMD of about Rs 4,500 crore followed by Bharti Airtel, Idea Cellular, Vodafone, Tata Teleservices, Reliance Communications, Telewings (Uninor) and Uninor. The earnest deposit money translates into points that determine the quantum of spectrum blocks a company can bid in the auction process. Spectrum or radio waves being the key part of the telecom networks to provide mobile services, this auction will see aggressive bidding with top operators competing with each other. The amount fetched from this auction will help the government reach its fiscal deficit target of 4.1% of the GDP.

Indian coast guard denies blowing up Pak boat on Dec 31, contradicts earlier statement
India > Pakistani Boat Incidence > Feb 18
The Indian Coast Guard on Wednesday denied newspaper reports which quoted a deputy inspector general as claiming he gave orders to blow up and sink a Pakistani boat which infiltrated into Indian waters on New Year’s Eve. DIG BK Loshali whom Indian Express had quoted said that he wasn't handling the operations at the time of the incident and that the boat had set herself on fire and was not sunk by the Coast guard. After the Coast Guard denied the claim, the Indian Express - which first reported the issue - released a video of Loshali purportedly making the controversial remarks prompting defence minister Manohar Parrikar to say that he would order a probe into Loshali's comments.
The Coast Guard’s earlier statement contradicted the government's claim that there were Pakistani militants on the boat since the inmates of the boat blew it up after being cornered by Indian forces.

Tuesday, February 17, 2015

Starred Articles

Mascot of the 35th National Games, Ammu, in Limca Book of World Records
Sports > 35th National Games
The mascot for the 35th national games, Ammu, the horn-bill, was included in the Limca Book of World Records for its lead role in Kalikkunna Kuttikalkkayi Bharatham Kathirikkunnu (India Awaits Children Who Play), which was staged in 147 schools across 7 districts in Kerala. The play aims to promote sports among children and encourages school children to take up sports with academics.
The horn-bill was chosen as a mascot to highlight Kerela's concern for its conservation as an endangered species. Also the mascot was given a feminine name to showcase the role of women in Kerala, which is the only Indian state to have a female population higher than the male population.

Sunil Chettri awarded with 2014 AIFF Player of the year
Sports > AIFF Player of the year
Indian football captain Sunil Chhetri was awarded All India Football Federation’s 2014 Player of the Year award. This is the fourth time that he had been awarded. The footballer had previously won the award thrice in 2007, 2011 and 2013. He also surpassed IM Vijayan's record of winning the award thrice. Chhetri was chosen as the winner by top coaches across the country. Besides Chhetri, national women’s team striker Bala Devi was presented with the 2014 AIFF Women’s Footballer of the Year and FIFA Referee Santosh Kumar from Kerala was presented the 2014 AIFF Award for Best Referee.

At 750MW, Madhya Pradesh to get world’s largest solar power plant
Science and Technology > World’s largest solar power plant
Next year on 15th August, the world’s largest solar power plant of 750-megawatt capacity will be established in Rewa Madhya Pradesh. The plant will be much bigger than America’s 550-megawatt Desert Sunlight solar project in California, commissioned four days ago. Acquisition of 1,500 hectares of land for the Rs 4000 crore project is close to completion and government agencies are likely to invite tenders from developers by April. The state government is setting up the plant in a joint venture with Solar Energy Corporation of India. The expected cost of power production is pegged at Rs 5 per/unit which would be lower than production costs in any solar project in the country, including the one at Neemuch in MP and Mehsana and Patan in Gujarat.

Civil nuclear pact signed by Sri Lanka and India
Politics and government > Civil nuclear pact
A bilateral agreement on civil nuclear cooperation was made between India and Sri Lanka besides deciding to expand defence and security cooperation. At the meeting attended by Prime Minister Narendra Modi and Sri Lankan President Maithripala Sirisena, a commitment was made to find a solution to the fishermen issue by adopting a constructive and humanitarian approach. Apart from nuclear pacts, three other pacts pertaining to the field of agriculture and Sri Lanka's participation in the Nalanda University Project were signed too. Narendra Modi said that India was honoured that Sirisena had chosen the country for his first overseas destination after assuming charge. Expressing satisfaction with the results of the talks between the two countries, Modi said that the two countries are committed on exploring the potential of economic cooperation.

Others

Ratnakar Bank invests in IBM's platform for mobile applications
Bank specific > Ratnakar Bank
In a bid to offer its customers flexible mobile applications, Ratnakar Bank Ltd. (RBL) has signed a deal with IT giant IBM, in order to build, deploy and manage its applications on IBM's MobileFirst Platform. This new integration will open doors to a completely new mobile banking space for the customers of RBL, with introduction of user specific and transaction specific mobile apps for credit and debit cards. It will also provide secure transactions to its customers and financial transactions across banks 24X7. With the expertise of IBM's MobileFirst Platform, RBL is planning to build a set of internal apps for employees to improve workplace productivity and an app that will combine the social media capability targeted towards the younger generation. The bank is also looking forward to reach financial inclusion customers through their applications by enabling them for payments.

Rashtriya Khel Protsahan Puruskar Scheme revised by Union Ministry of Youth Affairs and Sports
Sports > Rashtriya Khel Protsahan Puruskar Scheme
The Union Ministry of Youth Affairs and Sports has revised the Rashtriya Khel Protsahan Puruskar Scheme. It will be given in four categories as per the revision. The four categories are – identification and nurturing of young talent, encouraging sports through corporate social responsibility, employment of sports-persons and sports welfare measures and development of sports. The revised scheme has also prescribed eligibility criteria for the four categories, a new category for encouragement of sports through Corporate Social Responsibility has been provided in the revised Scheme, which has been included in the Schedule VII of the Companies Act 2013. A special provision to recognise NGOs working towards sports development has also been added.
Rashtriya Khel Protsahan Puruskar Scheme was introduced in 2009 to encourage and promote involvement of corporates, sports promotion boards and others in the promotion and development of sports in the country.

Web-based tool launched to keep atrocities on dalits in check
Science and Technology > Dalits
The National Dalit Movement for Justice (NDMJ) has launched a Web-based tool called Atrocity Tracking and Monitoring (ATM) system, under the aegis of the National Coalition for strengthening SC&ST PoA Act (NCSPOA). This tool is launched to track the crimes happening in the most vulnerable sections(the dalits and adivasis) of the societies and help them avail timely justice. It will also enable dalit human rights activists and organisations to create and maintain a repository of cases, track records, and facilitate information exchange for timely action. This initiative was taken due to rising crimes against the SCs/STs between 2001 and 2012; women being affected the most. About 100 atrocity cases have already been reported through this system and e-mails and SMS notifications have been sent to the officials concerned. Training workshops are being held to teach the operations of the ATM system.

Editor Unplugged: Media, Magnates, Netas and Me - book by Vinod Mehta launched
Books > Editor Unplugged
The book Editor Unplugged: Media, Magnates, Netas and Me written by Vinod Mehta was a popular topic of the media in first week of February 2015. The book, published on 15 December 2014 by Penguin India, revolves around a young Lucknow boy and gives an account of his experiences in the corridors of power in Delhi. The book gives the author's take on Narendra Modi, Arvind Kejriwal and the Nehru-Gandhi dynasty and their coalition politics. The author also discusses the significant changes that were witnessed in the 2014 Lok Sabha Elections, through his characteristic sharp insights, wit and wisdom.
The book examines the lack of humour in our political leaders and changing perspective of the Indian middle class and along with the sweeping changes that took place in the print and TV media. Personalities such as Ratan Tata, Nira Radia, Khushwant Singh, Sachin Tendulkar and Arundhati Roy have also been discussed in the book.

ICC World Cup 2015 begins in New Zealand
Sports > Cricket World Cup
ICC world cup 2015 opened with a lavish ceremony at Hagley Park, Christchurch,New Zealand. It will be co-hosted by Australia and New Zealand .The participating countries in this World Cup are New Zealand, Sri Lanka, South Africa, Zimbabwe,India,Pakistan, Bangladesh,Australia, Afghanistan, West Indies, U.A.E., Scotland, Ireland and England. The 11th edition of Cricket World Cup is a 49-match schedule and fixtures will be played over the span of one and half months, starting from February 14 February to March 29 2015.

World Radio Day observed on 13th February
Days > World Radio Day
World Radio Day was observed on the 13th of February, 2015 with the theme of Youth and Radio. The day is celebrated every year in order to commemorate radio as an information and entertainment forum, as a bridge of communication for remote communities and as a tool to empower people. The day is celebrated by the UNESCO by planning activities with broadcasters, organisations and communities the world over.
The UNESCO officially declared 13th February as the World Radio Day on 3rd November, 2011, as it marked the anniversary of the United Nation's first radio broadcast, which occurred on 13th February, 1946.

Bank ATMs to enable card-less withdrawals by year-end
Bank specific > Card-less withdrawals
Customers of around 1 lakh bank ATMs will be able to perform card-less cash withdrawals by the end of the current year. This system will also be made available at lakhs of point of sale terminals at shops which provide cash-out facilities. While Kotak Mahindra Bank and Bank of India are already providing the facility of sending money via mobile phones, State Bank of India and Punjab National Bank are set to extend card-less withdrawal. This convenient facility has been made possible by the IMT Payment System, conceptualized and built by EMpays Payment System founded by Ravi Rajagopalan, a former executive with French telecommunications firm Alcatel-Lucent. IMT is gearing up to build a combined network of banks wherein withdrawals will be made possible within the network. For this, the banks will have to become the member of the multi-bank IMT system.

National Games ends on a colourful note
Sports > 35th National Games
The 35th edition of the National games, held in Kerala, ended with Services Sports Control Board (SSCB) winning the overall championship. Analysis of the final National Games Medal Table, summarized by Sports Rediscovered, showed that the SSCB secured the first position by winning 91 gold medals, 33 Silver medals and 35 bronze medals. Kerala came second with 54 gold medals, followed by Haryana with 40, Maharashtra with 30 and Punjab with 27 gold medals. While Bihar and Daman and Diu did not win any gold medals, Goa, Chandigarh, Arunachal Pradesh, Himachal
Pradesh, Mizoram and Meghalaya won one each.

Two women scientists to get Nayudamma award
Awards > Nayudamma award
Dr.Y. Nayudamma Memorial Award 2014 will be jointly presented to two women scientists for their remarkable contributions in defence research development and space research. One of the recipients, Tessy Thomas is the Director of Advanced Systems Laboratory of the Defence Research and Development Organisation, Hyderabad and Project Director of (Mission) Agni V. The other recipient, Geeta Varadan is the Director of Advanced Data Processing Research Institute of ISRO. This is the first time that two women have become the joint winners of the prestigious award. The award was instituted in 1986 in memory of global leather scientist and former director general of CSIR, Yelavarthy Nayudamma.

EC to launch electoral authentication mission
India > Election Commission
Chief Election Commissioner (CEC) HS Brahma has announced that the Election Commission (EC) will launch the Mission of Electoral Roll Authentication and Purification drive by linking Aadhaar and Electoral Roll Database. The EC will launch the drive on the 1st of March and has requested all officers to come up with suitable plans in order to complete the mission by 15th August, 2015. The Director General and Mission Director of Unique Identification Authority of India (UIDAI), Dr Vijay S Madan, assured all necessary support to link Aadhar with the Electoral Roll Database.

Supersonic BrahMos cruise missile successfully test fired
India > Defence
The Indian Navy successfully test fired supersonic cruise missile, BrahMos from INS Kolkatta, the biggest warship in India on Saturday, 14th February, 2015. The missile has a range of 290 km and was fired through a vertical launch from the warship; it hit its target with pinpoint accuracy. The missile was fired as a part of the Theatre Readiness Operational Level Exercise (TROPEX) 2015. The Brahmos missiles have already been inducted in the army and navy and the missile's air-launched version is slated to be tested from a Sukhoi-30MKI fighter soon.

RR Patil, former Maharashtra home minister, passes away
India > RR Patil
Senior Nationalist Congress Party (NCP) leader and former Maharashtra Home Minister, RR Patil, died yesterday in Mumbai. He was 57. Patil was undergoing treatment for oral cancer for the past three months and had reached the advanced stage of the disease. RR Patil was best known for his work as the Home Minister during the 26/11 Mumbai terror attacks. He was one of the very few leaders of the NCP who were never accused of any scam during his 15-year tenure as minister. Prime Minister Narendra Modi and other political leaders paid condolences to the family of Mr. Patil.

First National Tribal Festival – Vanaj, 2015 held
India > Vanaj

The Union Minister of Tribal Affairs Jual Oram inaugurated India's first National Tribal Festival, Vanaj, on 13th February 2015 at the the Indira Gandhi National Center for Arts (IGNCA), New Delhi. It is a week-long festival and will showcase the culture of the tribal people across the country, through various events and activities. It will also showcase tribal art, music, dance, painting, medicine and tribal cuisine. The festival will end on the 18th of February.

Wednesday, February 11, 2015

Starred Articles

New report reveals 1,195 names of Swiss account holders; balance at
Rs 25,420 crore
India > Black money
A joint investigation carried out by The Indian Express, Washington­based International Consortium of Investigative Journalists (ICIJ) and the Paris­based Le Monde newspaper, has revealed a new list of 1,195 Indian Swiss account holders. This controversial list, retrieved from a trove of secret documents from HSBC’s Swiss private banking arm, includes prominent Indian names from various backgrounds. Mukesh Ambani, Anil Ambani, Anand Chand Burman, former Maharashtra chief minister Narayan Rane — his wife Neelam Narayan Rane and son Nilesh Rane, Bal Thackeray’s daughter­in­law Smita Thackeray, Swraj Paul and many others are listed as an account holder of the HSBC Swiss bank. Their total account balance amounts upto Rs 25,420 crore for the year 2006­07. The new revelation— published as part of a global agreement — is expected to significantly widen the scale and scope of the ongoing probe by the Special Investigation Team (SIT) appointed by the Supreme Court. British bank HSBC Holdings Plc eventually agreed to the charges of helping wealthy customers evade taxes and hide millions of dollars of assets. The analysis of the list of Swiss account holders from over 200 countries has revealed that India ranks 16th, with total funds of $4.1 billion, while Switzerland tops the list with $ 31.2 billion.
Aam Aadmi Party sweeps Delhi assembly elections
India > Delhi Elections
The Aam Aadmi Party (AAP) has won the Delhi assembly elections with a clear majority by leading in 67 of the total 70 seats, a phenomenal win considering that it was completely able to wipe out the Bhartiya Janta Party (BJP) which was riding high on PM Narendra Modi’s charisma. It was a nightmarish result for the BJP which managed to win just three seats, the first such instance since Prime Minister Narendra Modi became the Prime Minister. In another shocker, the Congress party failed to win even a single seat. AAP’s victory is biggest-Ever Victory in an Indian State Election.

488 Swine Flu cases reported in India, Maharashtra worst affected with 100 deaths
India > Swine Flu
The swine toll in Maharashtra and Rajasthan has reached 100 and 40 respectively. According to reports, six deaths have been recorded in Mumbai due to the H1N1 virus outbreak while five more casualties were reported in Rajasthan on Tuesday. A total of 205 swine flu cases have been recorded in Maharashtra, according to the state authorities, while 49 fresh cases were reported in Delhi with the total number of cases due to the disease going up to 488 this year. Swine flu is caused by the H1N1 virus. H1N1 symptoms are similar to those produced by other influenza viruses. Symptoms for swine flu include high fever, headache, muscle pain, diarrhoea, vomiting, stomach pain and internal and external bleeding. It is transmitted to people primarily from ticks and livestock animals with an incubation period of up to nine days. Human-to-human transmission takes up to two weeks.

Others

UN report says ISIS selling children as slaves with price tags, also using children as suicide bombers
World > ISIS
A United Nations report has said that ISIS has stepped up the use of children in its terrorist campaign, including putting price tags on Iraqi children and selling them as slaves. There have been reports of children, especially children that are mentally challenged, who have been used as suicide bombers, most probably without them even understanding what has happened or what they have to expect. Children as young as 8 years of age are being trained to become fighters. Also, all Yazidi males above 10 years of age have been dragged out of their schools and have been shot. Reports also suggest that women, especially Yazidi women, have been abused physically and subjected to systematic rape and sex slavery. ISIS has in the past attempted to justify atrocities, including the enslaving, raping and selling of captives, as being done in God's name.

Iran expresses willingness to sign nuclear deal
World > Iran nuclear deal
Iranian foreign minister Mohammed Javad Zarif has told a gathering of the world's top diplomats and defense officials in Munich that this is the right opportunity, expressing a willingness on the part of Tehran to come to an agreement regarding a nuclear deal. The United States and its five negotiating partners, the other members of the U.N. Security Council and Germany, hope to clinch a deal setting long-term limits on Tehran's enrichment of uranium and other activity that could produce material for use in nuclear weapons. Both sides are under increasing pressure ahead of two deadlines: to agree on main points by late March, and to reach a comprehensive deal by June 30. The possibility of a deal raised strong objections from Israel with Israeli PM Benjamin Netanyahu saying that Israel would pull all stops to prevent a bad and dangerous deal that would threaten the security of Israel. From Tehran, Supreme Leader Ayatollah Ali Khamenei, who has the final say on all major decisions, said in a statement on his website Sunday that Iran agrees with Washington that no agreement is better than an agreement that doesn't meet its interests. Zarif said all sanctions against his country should be lifted, saying that if they had been intended to stop its nuclear ambitions they had failed.

India poised to grow faster than other BRICS nations for the first time in 15 years
Economy > Growth
According to the International Monetary Fund (IMF), India will next year grow faster than each of its BRICS counterparts for the first time since 1999. So far this year, more than $7 billion has poured into the country’s stocks and bonds, on top of last year’s $42 billion of inflows. The country’s benchmark equity index reached a record at the end of last month. Falling oil prices are helping the government reduce its budget deficit and giving room to the central bank to lower interest rates. Helping the country’s growth is also Prime Minister Narendra Modi’s initiatives to cut red tape and make it easier for foreign businesses to invest in India and RBI governor Raghuram Rajan’s determination to keep inflation contained. The new government has also implored manufacturers to establish factories in India and used executive orders to pressure parliament to approve bills that would drive investment in insurance and coal. However, India needs to overcome major challenges in the form of power shortages, transport bottlenecks and a dearth of skilled labor to record an exceptional growth.

2 Indians win at the 57th Annual Grammy Awards
World > Awards
The Staples Centre in Los Angeles, California hosted the 57th Grammy Awards this year on the 8th of February. A total of 83 awards were given out during the ceremony. Among the prominent awards, the best album award was won by Beck Hansen for his album 'Morning Phase', best record of the year and the best song of the year awards were clinched by Sam Smith for his album 'Stay with me'. Sam Smith also won the award for the best new artist'. Two Indians have won the awards this year, Neela Vaswani won the award in the best Chidren's album category for her album 'I Am Malala: How One Girl Stood Up For Education And Changed The World (Malala Yousafzai) along with Ricky Kej who won the Best New Age Album Trophy for his album 'Winds of Samsara'.

JD (U) expels Bihar CM Jitan Manjhi from party; Manjhi refuses to step down
Politics and government > JD (U)
The ongoing political crisis in Bihar has deepened further after Bihar Chief Minister Jitan Manjhi was expelled by the JD (U) from the party membership for defying the party line. Manjhi’s predecessor and senior Janata Dal (United) leader Nitish Kumar is attempting to return as chief minister. Mr Manjhi, who was hand-picked by Mr Kumar as his replacement last year, has refused to quit. Manjhi has gone further and met Prime Minister Narendra Modi fuelling speculations that if he is forced out, he might join the BJP. Meanwhile Mr Nitish Kumar has been recognized as the leader of the JD(U) legislature Party by Bihar Assembly Speaker. The JD (U) has 115 legislators in the 243-member assembly, most of whom are reportedly with Nitish Kumar. Manjhi enjoys the support of over a dozen JD (U) legislators. He is banking on the support of the BJP. The BJP has 88 legislators. Manjhi said he will prove his majority in the assembly on February 20, and step down only if he fails. However, the JD(U) is mounting pressure on the governor to call for a floor test immediately, saying that a later date would give Majhi time to engage in horse-trading.

Facebook partners with Reliance Communications to bring free internet initiative in India
Science and Technology > Internet penetration
Anil Ambani-led Reliance Communications has been roped in by Facebook Inc. to offer free access to data and websites to customers through the social networking site’s global digital inclusion initiative, Internet.org. To start with these services will be available to Reliance customers in of Mumbai, Maharashtra, Gujarat, Andhra Pradesh, Chennai, Tamil Nadu and Kerala. The services will then be extended to the rest of the country in a phased manner with more services and websites. The companies declined to share who will bear the cost of such data. The service is not restricted to any handset, irrespective of screen size or operating platform. The idea behind this initiative is to increase internet inclusion and encourage more Indians to go online. This will not only increase internet penetration in the country but also open up new socio-economic opportunities to users in areas like education, information and commerce.

India likely to have second biggest start-up ecosystem after US
Economy > Start-ups
IT-BPO industry body Nasscom said the country saw 800 new technology start-ups setting shop so far this fiscal and is poised to house the second biggest eco-system for them after the US in the next two years on account of the ongoing high growth rates. The rate at which the start-ups are growing is much faster than Britain and Israel, which are ranked between India and worldwide leader US at present. In 2014, the country witnessed 800 new companies starting up, taking the total number of start-ups to 3,100. Among the areas in which the start-ups are engaged includes wearable technologies, big data and analytics, augmented reality, cloud computing, hardware, education, advertising and healthcare.


Tuesday, February 10, 2015

Starred Articles

World Cancer Day observed on 4th February, 2015
Days > World Cancer Day > Feb 5
The world observed World Cancer Day (WCD) on 4th February 2015 with a view to tackle the deadly disease with unity in order to reduce its affect globally. The tagline for the WCD 2015 read “Not beyond us”, signifying that there are possible solutions to the threat of cancer. It intends to focus on areas such as prevention, early detection, treatment and care so that an individual refrains from developing cancer by observing these key areas. Around 8.2 million people die from cancer worldwide every year, out of which, 4 million people die prematurely (aged 30 to 69 years). The toll is believed to rise up to 9 million in 2016. World Cancer Day initiative was taken up by the Union for International Cancer Control (UICC) with an aim to create awareness and educate people to take preventive measures against cancer.

Marathi novelist Bhalchandra Nemade to receive 2014 Jnanpith award
Awards > Jnanpith Award > Feb 7
The Jnanpith Selection Board has picked renowned Marathi litterateur Bhalchandra Nemade, who was applauded for his 1963 novel Kosala(Cocoon), for the 2014 Jnanpith award. The decision was made by a 10-member committee chaired by noted scholar, writer, and critic Prof. Namwar Singh in New Delhi. Nemade is known for his contributions to the literary form of novels. His work Kosala had changed the dimensions of Marathi novel five decades ago. His book Hindu leaps through space and time and exhibits his creative abilities in new form.

2 Indians win at the 57th Annual Grammy Awards
Awards > Grammy Awards > Feb 9
The Staples Centre in Los Angeles, California hosted the 57th Grammy Awards this year on the 8th of February. A total of 83 awards were given out during the ceremony. Among the prominent awards, the best album award was won by Beck Hansen for his album 'Morning Phase', best record of the year and the best song of the year awards were clinched by Sam Smith for his album 'Stay with me'. Sam Smith also won the award for the best new artist'. Two Indians have won the awards this year, Neela Vaswani won the award in the best Chidren's album category for her album 'I Am Malala: How One Girl Stood Up For Education And Changed The World (Malala Yousafzai) along with Ricky Kej who won the Best New Age Album Trophy for his album 'Winds of Samsara'.

AAP sweeps Delhi assembly elections
India > Delhi Elections > Feb 10
The Aam Aadmi Party (AAP) has won the Delhi assembly elections with a clear majority by leading in 67 of the total 70 seats, a phenomenal win considering that it was completely able to wipe out the Bhartiya Janta Party (BJP) riding high on PM Narendra Modi’s charisma. It was a nightmarish result for the BJP which managed to win just three seats, the first such instance since Prime Minister Narendra Modi became the Prime Minister. In another shocker, the Congress party failed to win even a single seat.


Others

Karnataka girl Saloni Dalal becomes youngest medal winner at the National Games 2015
India > Sports > Feb 4
A 12-year old school girl from Karnataka became the youngest girl to win a medal at the ongoing National Games at Kerala. The girl, Saloni Dalal won a bronze medal in the 200 metre swimming event. Besides the bronze medal, Saloni also won silver in the 400 metre relay event.

First 'World Ocean Science Congress' to be held at Kochi
India > Ocean Science > Feb 6
Around 1,000 eminent oceanographers, environmentalists, naval exponents and maritime industrialists from India and across the world are set to assemble for the first ever World Ocean Science Congress (WOSC), which is to be held in Kochi on Thursday, 12th of February. The event is organised with an aim to tap the potential of ocean resources to their full utilisation without damaging oceans or their marine life.

SBI to team up with RIL to apply for payment bank licence
India > SBI - RIL > Feb 7
The State Bank of India (SBI) has decided to enter into a joint venture with Reliance Industries Limited (RIL) to apply for a payments bank licence. This move comes in the light of Reliance's bid to launch 4G and its mobile technology platform, which according to bank officials will prove beneficial to both parties.
The objectives of setting up payment banks is to further financial inclusion by providing small savings accounts and payments/remittance services to migrant labour workforce, low income households, small businesses, and other non-organised sector entities and other users.

SBI, PNB among nine PSBs to get capital infusion of Rs 6,990 crore from government
Bank Specific > Capital Infusion > Feb 7
In a bid to enhance capital and meet the global risk norms, the government is set to infuse Rs 6,990 crore in nine public sector banks including SBI, Bank of Baroda (BoB), Syndicate Bank, Allahabad Bank and Punjab National Bank (PNB). The allocation of capital has been done as per the efficiency and performance of each bank. Parameters like return on assets (ROA) and return on equity (ROE) were used to do so. SBI, being the largest public sector lender, leads the pack with a capitalisation of Rs 2,970 crore. The public sector banks are preparing to meet the norms of global Basel III norms on capital adequacy by 2018, for which they will need to gather Rs 2.4 lakh crore. Every year, the government infuses capital in banks and also fetches additional resources, in order to raise the capital of these banks to fulfill the obligation of the norms.

Japan to open world's first robot-staffed hotel
World > Robots > Feb 8
A hotel staffed with human-like robots will be opened at Japan with robots greeting and serving the customers for the first time. The hotel called Henn-na Hotel,meaning Strange Hotel, will have its customers treated with robotic hospitality like greeting, carrying luggage to rooms, making cups of coffee –and even smile. This modern hotel is set to open in Huis Ten Bosch, a theme park in typical Dutch style in terms of its architecture in Nagasaki Prefecture. Japan is looking forward to open 1000 more similar hotels fitted with technologies that will reduce the overall operating costs in future. Technologies like facial recognition system for unlocking the doors, radiation panels to regulate temperatures of the rooms and other energy-saving features will replace the conventional systems in hotels.

Lok Sabha speaker Sumitra Mahajan named in Limca Book of Records
India > Sumitra Mahajan > Feb 9
Lok Sabha speaker Sumitra Mahajan has been named in the Limca Book of Records for being the first Indian woman to represent the same constituency on the same party ticket for eight times in a row. The BJP leader was first voted in the year 1989 after which she was re-elected in 1991, 1996, 1998, 1999, 2004, 2008 and 2014.

New report reveals prominent Indian names amongst 1,195 names of Swiss account holders; balance at Rs 25,420 crore
India > Corruption > Feb 9
A joint investigation carried out by The Indian Express, Washington-based International Consortium of Investigative Journalists (ICIJ) and the Paris-based Le Monde newspaper, has revealed a new list of 1,195 Indian Swiss bank account holders. This controversial list, retrieved from a trove of secret documents from HSBC’s Swiss private banking arm, includes prominent Indian names from various backgrounds. Mukesh Ambani, Anil Ambani, Anand Chand Burman, former Maharashtra chief minister Narayan Rane — his wife Neelam Narayan Rane and son Nilesh Rane, Bal Thackeray’s daughter-in-law Smita Thackeray, Swraj Paul and many others are listed as account holders of the HSBC Swiss bank. Their total account balance amounts up to Rs 25,420 crore for the year 2006-07. The new revelation— published as part of a global agreement — is expected to significantly widen the scale and scope of the ongoing probe by the Special Investigation Team (SIT) appointed by the Supreme Court of India.

Chief Ministers to form 3 sub-groups under PM's NITI Aayog
Government and Politics > NITI Aayog > Feb 9
In an initiative towards rationalisation of 66 centrally funded schemes, PM Narendra Modi is set to form 3 sub-groups of chief ministers under NITI Aayog. The three groups will be responsible for management of the centrally-funded schemes and help decide whether they ought to be continued or cut down, provision of skilled manpower and development of institutional mechanisms and technical inputs to boost the Clean India campaign. Besides the sub-groups, two task forces will be assigned to each state for poverty alleviation and development of agrarian sector. A financial aid of Rs 3.38 lakh crore was allocated to the states by the government to focus on 66 schemes in 2014-15. The sub-groups have been asked by the PM to submit their reports by the end of 30-45 days.
The NITI - National Institute for Transforming India - Aayog headed by PM Narendra Modi had replaced the 65-year-old Planning Commission.

Winners of 68th British Academy Film Awards announced
Awards > BAFTA > Feb 9
On 8th February 2015, the 68th British Academy Films Awards (BAFTA) were announced to honour the deserving British and International artists for their exceptional performances in the year 2014. The BAFTA awards was held at the Royal Opera House in London. The notable winners of the prestigious awards were Julianne Moore who won the best actress award, Eddie Redmayne who won the best actor award, Richard Linklater who won the best director and the film Boyhood which won the best film award.