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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
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.
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