Wednesday, April 29, 2015

Starred Articles

After the US, India is the second largest country in cyber-attacks through social media
Science and Technology > Cyber Crime
India is the second largest country in terms of cyber-crimes according to Symantec's Internet Security Threat Report Volume 20, in 2014. Cyber criminals are increasingly targeting internet users in India through social media scam as social media profiles are becoming an individual’s virtual identity. The most common modus operandi being asking users to share and download media items like photos and videos, which ultimately lead to divulging of personal data. India has become a big target for hackers due to the country's increasing number of internet users.

10 lakh petitions to 'keep internet free' received by TRAI
India > Net Neutrality
Telecom regulator Telecom Regulatory Authority of India (TRAI) has received over 10 lakh petitions pleading free of charge internet just before the deadline ends for submission of comments on a consultation paper in this regard. The massive response has been rising at a rate that was never before seen in any regulatory consultation in India’s history as TRAI seeks public comments till April 24 before making its recommendations on net neutrality and internet-based calling and messaging applications. Rajya Sabha MP Rajeev Chandrasekhar also submitted his official response to the consultation paper along with a petition containing 2.88 lakh signatures collected through online platform Change.org in support of ‘keeping internet access free of any restriction’.

World's first malaria vaccination to be available by October
Science and Technology > Malaria vaccination
The world's first malaria vaccination could be available by October, 2015, shows the final trial report of a research conducted. The vaccine RTS,S/AS01 is the first of its kind to reach phase 3 of clinical testing and is partially effective against the clinical version of the disease. The results also conclude that the vaccine can prevent a substantial number of cases in clinical malaria. There is currently no licensed vaccine against malaria anywhere in the world. If licensed, the RTS,S/AS01 would be the first licensed human vaccine against a parasitic disease.

Nepal hit by deadly earthquake killing more than 5000
World > Nepal Earthquake
Nepal fell victim to one of history's worst earthquakes that killed more than 5000 and injured 6,500 people. The death toll is expected to rise as more and more bodies are being recovered from the rubble. Neighboring countries, India and China were also affected by the quake which recorded a 7.8 magnitude. Mountainous areas were badly affected with huge number of villages around the mountains being destroyed. The terrific quake was followed by a 6.8 magnitude aftershock that worsened the situation of Nepal. With help pouring in from across the world, people from every corner of the world are stepping up to help in relief efforts. India has scaled up its rescue and relief efforts in Nepal and has named it 'Operation Maitri'. As part of the operation, India has deployed two dozen military aircraft and choppers and is undertaking evacuation through roadways. Nearly 1,000 trained personnel of the National Disaster Response Force (NDRF) were also pressed into service. The rescue teams are also trying to evacuate nationals of other countries with Indians being the obvious priority. Nepal has declared three days of mourning for the lives lost in the earthquake.

Others

Public Safety Act slapped against Masarat Alam, shifted to Jammu jail
India> Masarat Alam
Separatist leader, Masarat Alam Bhat has been booked under Public Safety Act (PSA) and moved to Jammu jail. Bhat, who had already spent four years in jail under PSA after he hoisted the Pakistani flag and chanted anti-national slogans during a rally, has again been slapped the PSA by the Jammu and Kashmir authorities. The PSA allows detention of a person for a minimum of six months without trial.

Government removes Minimum Alternate Tax, brings relief to foreign investors
Politics and Government> Minimum Alternate Tax
Foreign funds based in countries having double taxation avoidance agreements (DTAA) with India will now be free of Minimum Alternate Tax (MAT), as directed by the government. The government assurance comes as a relief to the huge number of investors who claimed that they are not liable to pay MAT as many of them do not have operations or offices in India and do not prepare books of accounts as per Indian laws.
Companies find various loop-holes to avoid paying income tax by using several exemptions. MAT is ways of making companies pay a minimum amount of tax.

Government to move Constitution Amendment Bill soon for introducing nationwide GST
Politics and Government > Goods and Services Tax
In a hope to roll out Goods and Services Tax (GST) from April next year, the government is gearing up to move the Constitution Amendment Bill in Parliament for the implementation of GST within a couple of days. According to the finance minister, GST will simplify and harmonize the indirect tax structure, reduce cost of production and inflation in the economy and ensure India becomes a common seamless market. However, the minority of NDA (the ruling party) may make it difficult for the bill to get passed in the upper house.

Sri Lankan President moves constitution amendment bill
World > Sri Lanka
A bill that seeks to dilute powers of the president was presented at the Sri Lankan parliament by President Maithripala Sirisena. The bill for a key amendment to the Constitution seeks to reinstate a two-term limit for presidents–removed under former President Rajapaksa’s rule, and enshrines right to information in the constitution.

India to sign treaty with Afghanistan to share intelligence, co-operation in dealing crimes
Politics and Government >Indo-Afghanistan treaty
The Narendra Modi government will soon sign a Mutual Legal Assistance Treaty (MLAT) with Afghanistan which will help the two countries share intelligence and cooperate in dealing with crimes. The deal is likely to upset Pakistan as it has been against such bilateral agreements since 15 years. This step is likely to pose a threat to fugitives and terrorists taking shelter in Afghanistan.

Government will ask airlines to reserve 'emergency' quota for last minute flyers
Economy > Aviation
The government will soon tell all airlines to reserve a minimum of 2-3 seats per flight for emergency last minute travellers. The decision will provide much needed respite to last minute flyers who have to shell out more than five times the actual fare rate. The aviation minister was quoted saying that the emergency seats can be put up for sale a couple of hours before the flight schedule. The emergency seats will also be beneficial to medical travellers.

Big tax defaulters in newspapers, courtesy Income Tax department
India > Income Tax
In a massive step to enhance public awareness against the entities that are flouting laws, the Income Tax department has published names of 31 tax evaders who owe over Rs 1,500 crore in taxes to the government. This move comes as a part of I-T department's strategy to 'naming and shaming' big tax defaulters. The names included in the list were Hyderabad-based Totem Infrastructure, Pune-based Patheja Bros Forging & Auto Parts Mfg. Co, Hyderabad-based Royal Fabrics, and Mumbai-based Home Trade . These companies were "not traceable" to the I-T or the taxman found "inadequate assets" in the name of these defaulters to obtain the due taxes from them.

TMC wins big in West Bengal Municipal elections
Politics and Government > West Bengal Civic Polls
The Trinamool Congress (TMC) emerged victorious in Kolkata Municipal Corporation elections. TMC defeated the opposition by securing 114 of the 144 wards, and also won 69 of the 91 civic bodies in districts across West Bengal. The BJP which hoped to replace CPI (M) as the main opposition in the KMC failed and managed to increase its tally from 3 to just 7 seats. The BJP and the CPI(M) accused the Congress of using muscle and money power to increase its votes.

Indonesia executes 8 convicted on drug charges
World> Indonesia executions
The Indonesian government executed seven foreigners and one Indonesian for drug offences. The convicts were shot by police firing squads after midnight, outside the gates of the prison. The executions have angered some of Indonesia’s largest aid donors, including Australia and the European Union. In spite of receiving pleas from around the world to cancel the execution, Indonesia went ahead with it. In response to this, Australia declared withdrawal of its ambassador from Jakarta.

Home Ministry cancels the registrations of approximately 9000 foreign aided NGOs
India > Foreign-aided NGOs
The central government cancelled registrations of approximately 9000 NGOs, which were funded by foreign entities. The reason cited is the non-filing of annual returns by the NGOs. The home ministry ordered the cancellations as the NGOs had failed to file their returns since 2009 and also failed to give reasons for the delay. The Foreign Contribution Regulation Act (FCRA) requires every registered NGO to submit its returns annually, the ministry sent notices to more than 10000 NGOs who had not filed their returns since 2009, in September, 2014.

USL board makes a move to remove Vijay Mallya after company audit
Corporate > USL
The board of United Spirits Limited (USL), in which the majority stake is held by Britain based Diageo Plc has decided to oust USL chairman Vijay Mallya citing irregularities in spending and payments that have surfaced after an audit. However, Mallya himself has decided to not resign and has branded the audit as not up to the mark. A Diageo statement revealed that Mallya will stay as the board director of USL as long as his other company United Breweries Limited owns more than 1.3 million shares in USL.

Women's World team Chess Championship: Harika and Humpy win silver and bronze respectively
Sports > Women's Chess
India's D Harika and Koneru Humpy won silver and bronze medals individually at the World Women's team Chess Championship, which was conducted in Chengdu, China. However, India as a country failed to win a medal and managed a fourth place in the tournament, and failed to clinch the bronze by just one point. China, Russia and Georgia won the bronze, silver and gold medals respectively

Farmers who commit suicide are cowards, criminals: Haryana Agriculture Minister OP Dhankar
India> Farmer Suicides

Haryana Agriculture Minister OP Dhankar said that government cannot provide support to farmers who commit suicide as they are 'cowards'. His statement comes following a tragic incident where a farmer ended his life in an AAP rally. He also denied compensation to the families of such farmers. Congress condemned the Minister's remarks and demanded his ouster.

Tuesday, April 28, 2015

Starred Articles

Government set to launch toll free helpline for TB patients
India > Others > Apr 24
The health ministry will launch a toll free helpline to assist Tuberculosis patients across the country. Any person can call or give a missed call on the number and government health workers will get in touch with the person concerned and will provide the required assistance in determining TB and medical assistance. The health ministry is currently working towards building the necessary infrastructure for the service in various states. India accounts for one-fourth of the 8.6 million TB cases reported worldwide and the number of drug resistant TB patients in India are as high as 110,000. The government faces major hurdles in identifying TB patients, through the helpline it intends to tend proper care and medication to the patients.

Nepal hit by deadly earthquake killing more than 3000
World > Nepal Earthquake > Apr 27
Nepal fell victim to one of history's worst earthquakes that killed at least 3,800 and injured 6,500 people. The death toll is expected to rise as more and more bodies are being recovered from the rubble. Neighboring countries, India and China were also affected by the quake which recorded a 7.8 magnitude. Mountainous areas were badly affected with huge number of villages around the mountains being destroyed. The terrific quake was followed by a 6.8 magnitude aftershock that worsened the situation of Nepal. With help pouring in from across the world, people from every corner of the world are stepping up to help in relief efforts. India has scaled up its rescue and relief efforts in Nepal and has named it 'Operation Maitri'. As part of the operation, India has deployed two dozen military aircraft and choppers and is undertaking evacuation through roadways. Nearly 1,000 trained personnel of the National Disaster Response Force (NDRF) were also pressed into service. The rescue teams are also trying to evacuate nationals of other countries with Indians being the obvious priority.

Bhartiya Mahila Bank wins the Asian Banker Achievement Award 2015
World > Banking > Apr 27
The Bhartiya Mahila Bank (BMB) was awarded the Asian Banker Achievement Award 2015 on 23rd April 2015 at a function held in Hong Kong during the Asian Banker Summit 2015. The award was received by Usha Ananthasubramanian, the Chairman and Managing Director (CMD) of BMB and was presented with respect to technology implementation in the category of the best outsourcing project.

Others

Income Tax department awarded PM's award for excellence in public administration
India > Others > Apr 22
The Income Tax (IT) department was awarded the Prime Minister's award for excellence in public administration for providing quality service in terms of tax compliance. The award was presented on the 21st of April, 2015 at a ceremony held at Vidhan Bhavan by PM Narendra Modi on the occasion of Civil Services Day. The award was conferred on the basis of successful implementation of services such as – Tax Information Network (TIN), e-filing portal, centralised processing cell for tax deducted at source (TDS) statements and centralised processing for income tax returns.

Government removes Minimum Alternate Tax, brings relief to foreign investors
Politics and Government > Minimum Alternate Tax > Apr 23
Foreign funds based in countries having double taxation avoidance agreements (DTAA) with India will now be free of Minimum Alternate Tax (MAT), as directed by the government. The government assurance comes as a relief to the huge number of investors who claimed that they are not liable to pay MAT as many of them do not have operations or offices in India and do not prepare books of accounts as per Indian laws.
Companies find various loop-holes to avoid paying income tax by using several exemptions. MAT is ways of making companies pay a minimum amount of tax.

Government to move Constitution Amendment Bill soon for introducing nationwide GST
Politics and Government > Goods and Services Tax > Apr 23
In a hope to roll out Goods and Services Tax (GST) from April next year, the government is gearing up to move the Constitution Amendment Bill in Parliament for the implementation of GST within a couple of days. According to the finance minister, GST will simplify and harmonize the indirect tax structure, reduce cost of production and inflation in the economy and ensure India becomes a common seamless market. However, the minority of NDA (the ruling party) may make it difficult for the bill to get passed in the upper house.

World Book and Copyright Day celebrated across the world on 23 April 2015
Days > World Book and Copyright Day > Apr 23
United Nations celebrated World Book and Copyright Day across the world on 23 April 2015. The day marks the importance of books in our lives and encourages support for books and those who produce them. It also promotes reading, publishing and copyright. Incheon, South Korea has been named by the UNESCO as the World Book Capital for the year 2015. Also known as International Day of the Book or World Book Day, this day was first celebrated on 23 April 1995 by the United Nations Educational, Scientific and Cultural Organization (UNESCO).

Mandatory leave for employees of certain banks, decrees RBI
India > Banking > Apr 23
A recent rise in bank frauds has compelled the Reserve Bank of India (RBI) to order certain banks to send their employees working in the treasury department, risk management and currency chests on a ten day leave. The order comes after the central bank found that few banks were not following the 'mandatory leave' policy, which increases operational risk for banks. The RBI also asked banks to categorise employees to be covered under 'mandatory leave' and under 'away from desk' requirement and ask such employees to be away from their jobs for a specified number of working days each year without any prior intimation.

10 lakh petitions to 'keep internet free' received by TRAI
India > Net Neutrality > Apr 24
Telecom regulator Telecom Regulatory Authority of India (TRAI) has received over 10 lakh petitions pleading free of charge internet just before the deadline ends for submission of comments on a consultation paper in this regard. The massive response has been rising at a rate that was never before seen in any regulatory consultation in India’s history as TRAI seeks public comments till April 24 before making its recommendations on net neutrality and internet-based calling and messaging applications. Rajya Sabha MP Rajeev Chandrasekhar also submitted his official response to the consultation paper along with a petition containing 2.88 lakh signatures collected through online platform Change.org in support of ‘keeping internet access free of any restriction’.

World Malaria day observed on 25th April 2015
Days > World Malaria Day > Apr 25
The world observed World Malaria Day on 25th April 2015 under the theme - Invest in the Future, Defeat Malaria. The day is celebrated to acknowledge the global efforts to control malaria. This day brings out the need for continued investment and sustained political commitment to curb malaria. World Malaria Day was instituted by World Health Organization (WHO) Member States during the 2007 World Health Assembly.

National Panchayati Raj Day observed on the 24th April, 2015
India > Important Days > Apr 25
The National Panchayati Raj Day was observed throughout the country on the 24th of April, 2015. The best performing Gram Panchayats and Gram Sabhas were awarded the Panchayat Sashaktikaran Award 2015 and Rashtriya Gaurav Gram Sabha Award 2015. The purpose of the day is to commemorate the passing of the 73rd amendment of the constitution also known as the Constitution Act, 1992, which came into effect from the 24th of April, 1993. The amendment helped in institutionalising Panchayati Rajs through village and district levels, which was seen as a big step towards the decentralisation of power at the grass-root levels.


Wednesday, April 22, 2015

Starred Articles

First International Day of Yoga to be observed on June 21
Days > International Day of Yoga
Following a proposal put forth by Modi at at the 69th Session of the United Nations General Assembly last year, a resolution was adopted at the session for observing the International Day of Yoga on June 21 each year. To ensure that the purpose of the resolution is served, the government of India has asked universities and colleges across the country to observe the first International Day of Yoga on June 21.

Government exempts LPG subsidiary payments for ONGC and Oil India Limited
India > LPG subsidiary payments
Domestic oil and gas operation received a huge boost as the government decided to exempt ONGC (Oil and Natural Gas Commission) and Oil India Limited (OIL) from paying LPG subsidies, starting from the current fiscal. The government will fully meet subsidy burden of LPG in 2015-16. The government regulates prices of cooking fuels such as LPG and kerosene to help the poor. The difference between the cost and the retail selling price, called under-recoveries, is borne by the government by way of cash subsidy and upstream producers like ONGC

PM Narendra Modi to inaugurate global exhibition on services on April 23
India > Global Exhibition on Services
India is set to organize a global exhibition on services with sixty countries including Pakistan, Australia, US, Russia and Germany participating in the event. The exhibition aims to encourage the service sector in India. The first edition of Global Exhibition in Services (GES) will be inaugurated by PM Narendra Modi and will be held annually from now on. It is pitched to serve as a platform for extensive business networking, joint ventures, exchange of ideas, brand visibility and exploration of newer revenue models according to the government.

Others

Pakistan, Russian to hold first-ever joint military exercise
World > Pakistan-Russia
With a view to enhance cooperation in both defence industry and military training, Russia and Pakistan have agreed to hold the first-ever joint military exercise. Currently the two countries are working on strengthening their ties in the defence field with Russia lifting embargoes on providing defence supplies to Pakistan.


175 million bank accounts in India in three years: World Bank
India > Financial inclusion
According to recent reports of the World Bank, bank account penetration in India saw an increase from 35 per cent to 53 per cent in three years. This steep growth in bank accounts comes as a result of government’s push for financial inclusion. In order to drive financial inclusion, the Indian government launched Pradhan Mantri Jan Dhan Yojana scheme for comprehensive financial inclusion with the goal of opening a bank account for every household. However, 97 per cent of the newly opened accounts show 'zero balances' indicating a high rate of financial inactivity in India.

Nuclear-capable Agni III ballistic missile successfully test fired from Odisha coast
India > Defence
India test fired nuclear capable ballistic missile Agni III, which has a range of over 3000 km from the coast of Odisha. It was fired from the Inner Wheeler Islands off the coast of Dhamra in Bhadrak district. The missile is 16 metres in length and weighs 48 tonnes and is capable of carrying warheads weighing up to 1.5 tonnes. It uses the technology of rail mobile system, which makes it capable of being launched from anywhere in India.

Syria gas attack video shocks UNSC members
World > Syria chemical attack
A video of the chlorine gas attack in Syria that apparently killed 400 children has shocked the members of the United Nations Security Council (UNSC). The video shows a failed attempt by doctors to resuscitate 3 children. The attack occurred in Sarmin village in north-west Idlib province of the war torn country. Both government and rebel forces have denied using chlorine bombs Chlorine is not a prohibited substance, but its use as a weapon is banned under the 1997 Chemical Weapons Convention, which Syria joined in 2013. The members condemned the act and said the perpetrators should be brought to justice. The chlorine bombs were supposedly dropped from helicopters and the Syrian air force is known to be the only one in the area in possession of helicopters.

Transport allowance exemption raised from Rs 800 to Rs 1600 per month
Economy > Taxation
A notification regarding an increase in the transport allowance exemption from Rs 800 to Rs 1600 per month has been issued by the government. Exemption limit for blind and orthopedically handicapped employees has been raised to Rs 3200 per month from Rs 1600. This comes after an announcement in the budget by finance Minister Arun Jaitely to relax salaried class from tax burden.

Sitaram Yechury elected as general secretary of CPI(M)
Politics and Government > CPI(M)
62 year old Sitaram Yechury was elected as the general secretary of the Communist Party of India (Marxist) by the party's 91 member central committee. Yechury's election faced stiff opposition from the Kerala committee of the party, which preferred 77-year-old S Ramachandran Pillai, who eventually withdrew his candidature. The outgoing general secretary Prakash Karat suggested Yechury's name, which was approved unanimously by the central committee.

Delhi's gets its first woman bus driver
India > Woman Bus Drivers
Vankadarath Saritha, 30 took the wheel of bus number 543 accompanied by much public interest. Her appointment is expected to inspire other women to take up driving as a profession. Saritha intends to help her family with her salary. Safety of her female passengers is her priority, says the first woman bus driver in India's capital Delhi.


Juha Sipilä wins Finland elections with 49 seats
World > Finland
Leader of the opposition Centre party, Juha Sipilä won the parliamentary election of Finland with 49 seats. Sipilä beat the pro-EU and pro-Nato Prime Minister, Alexander Stubb, after four years of policy stagnation and a bickering coalition. Since Sipilä needs two of the three runner-up parties to form a majority coalition, weeks of coalition bargaining can be expected. He may depend on the Eurosceptic Finns party, formerly known as the True Finns, to form the government. If it happens, the resulting coalition could increase Finland’s hardline stance over bailouts in the Eurozone and might stall a third bailout for Greece.

Egypt's overthrown President Morsi faces jail for 20 years
World> Mohammed Morsi
In the first verdict since his overthrow, Egypt's ousted President Mohammed Morsi faces 20 year jail term for ordering the arrest and torture of protesters during his rule. Due to mass street protests against his rule, Morsi was dethroned by the Military in July 2013. Morsi and his 14 other Muslim Brotherhood supporters have escaped a more serious charge of inciting the killing of protesters, which could have carried the death sentence. Most of the other defendants were also given 20-year prison sentences. Morsi's legal team has said they will appeal against the verdict.

Captain arrested after migrant boat capsizes off Libya
World> Europe migrant crisis
The captain of the boat that capsized off Libya was arrested for reckless multiple homicide. The incident resulted in killing of hundreds. Overcrowding of the ship and steering mistakes by the captain caused the boat to overturn. The boat was transporting illegal immigrants to Greece for which the Tunisian captain and a Syrian crew member will be charged. The two were among 27 survivors who arrived in Sicily late on Monday. There were nationals of Syria, Eritrea, Somalia, Mali, Sierra Leone and Senegal on board, kept in three different layers in the boat. Some 800 people are thought to have died in the disaster.
Al-Qaida forced Indian Navy to change plan of Operation Rahat in Yemen
India > Yemen rescue operation
The rescue operation code named 'Operation Rahat' carried out by India in Yemen last week to evacuate Indian and foreign citizens had a change of plan 24 hours before the mission due to Al-Qaida militants. INS Sumitra had initially planned to evacuate the victims from Al Mukalla, an Al-Qaida base port, but as the city had been taken over by militants, the plan had to be dropped. It then carried out the toughest rescue by evacuating 203 people, including 182 Indians, from Ash Shi'hr port, located 46km from Al Mukalla.

United States of America sends Naval Vessel to Yemen with an intention to keep an eye on Iran ships
World > Yemen
The US navy has sent USS Theodore Roosevelt escorted by guided-missile cruiser USS Normandy to Yemen in order to ensure peace and order in the Arabian Sea area. This has increased the total number of American ships in the area to 9. Meanwhile, the United States has confirmed it was monitoring Iranian vessels suspected of carrying weapons to Houthi rebels in Yemen.

Background:
Strategically located Yemen, vital for key shipping routes and bordering oil-rich Saudi Arabia, was plunged into chaos last year when the Iran-backed and former President Ali Abdullah Saleh- supported Houthi Shiite rebels seized Sanaa, Yemen's capital city. The incumbent president Abd Rabbuh Mansur Hadi was forced to flee from Yemen by sea as Houthi rebels had captured his defence minister and seized the city’s airport.

Prashant Bhushan and Yogendra Yadav expelled from the Aam Aadmi Party
Politics and Goverment > AAP

The Aam Aadmi Party (AAP) expelled founding members, Prashant Bhushan and Yogendra Yadav alleging indiscipline and anti-party activities. Two other members Anand Kumar and Ajit Jha were expelled too. The two senior leaders opine that they had a difference of opinion with the party chief, Arvind Kejriwal and his dictatorial ways and hence they protested leading to their expulsion. The decision to expell was taken by the party's disciplinary committee citing the duo's efforts to undermine the party's efforts in the Delhi elections.

Tuesday, April 21, 2015

Starred Articles

175 million bank accounts in India in three years: World Bank
India > Financial Inclusion > Apr 16
According to recent reports of the World Bank, bank account penetration in India saw an increase from 35 per cent to 53 per cent in three years. This steep growth in bank accounts comes as a result of government’s push for financial inclusion. In order to drive financial inclusion, the Indian government launched Pradhan Mantri Jan Dhan Yojana scheme for comprehensive financial inclusion with the goal of opening a bank account for every household. However, 97 per cent of the newly opened accounts show 'zero balances' indicating a high rate of financial inactivity in India.

Banks all set to offer differential rates to fixed deposit holders
Banking and Investment > Rate of Interest > Apr 17
The Reserve Bank of India has allowed banks to offer higher rates of interest to fixed deposit holders who agree not to prematurely withdraw their high-value fixed deposits. Banks will offer differential rates to depositors who deposit a minimum of Rs. 15 lakh for a fixed tenure set by the banks. The move will provide banks with an assurance of building a base of medium to long-term assured deposits that will enable them to better handle asset-liability issues. At present, depositors are entitled to withdraw their deposits prematurely without giving any reason to the banks. The announcement by RBI however, does not impose any changes on the withdrawal of deposits below Rs. 15 lakh. A depositor depositing more than Rs. 15 lakh will have the option to opt for a higher rate of interest by depositing the money for a longer period or to get the usual rate of interest with the option of breaking the deposit any time during the fixed tenure.

First International Day of Yoga to be observed on June 21
Days > International Day of Yoga > Apr 20
Following a proposal put forth by Modi at at the 69th Session of the United Nations General Assembly last year, a resolution was adopted at the session for observing the International Day of Yoga on June 21 each year. To ensure that the purpose of the resolution is served, the government of India has asked universities and colleges across the country to observe the first International Day of Yoga on June 21.

Transport allowance exemption raised from Rs 800 to Rs 1600 per month
Economy > Taxation > Apr 20
A notification regarding an increase in the transport allowance exemption from Rs 800 to Rs 1600 per month has been issued by the government. Exemption limit for blind and orthopedically handicapped employees has been raised to Rs 3200 per month from Rs 1600. This comes after an announcement in the budget by finance Minister Arun Jaitely to relax salaried class from tax burden.

Others

Canadian PM Stephan Harper returns 900 year old Khajuraho statue to Modi
Politics and Government > Modi’s Canada Visit > Apr 16
During his visit to Canada, Indian Prime Minister Narendra Modi was handed a stolen 900 year old statue from the Khajuraho temple in Madhya Pradesh by his Canadian counterpart Stephen Harper. The statue is known as the 'parrot lady' and was found to be in possession of a person in the year 2011, and was confiscated due to lack of proper documents. The statue was handed over in accordance of the UNESCO convention, as the Khajuraho temple is a UNESCO world heritage site. The handing over ceremony took place at the Canadian parliament library.

Civil Services Day set to become a 2 day affair
India > Important Days > Apr 16
The Annual Civil Services Day is set to become a two day event, instead of a one day affair starting from 20th April 2015. The event will be attended by various high profile government officials including the cabinet ministers and the prime minister and will have special presentations on the PRAGATI and E-SamikSha projects of the government. The PRAGATi project is a unique integrating and interactive platform aimed at addressing common man's grievances, and simultaneously monitoring and reviewing important programmes and projects of the central as well as state governments. The E-SamikSha project will allow the government's top ministers, including the prime minister, a real-time clear view of intra and interdepartmental file movements and gives them power to intervene in case of a delay.

India needs more awareness on Haemophilla
Days > World Hemophilia Day > Apr 17
World Hemophilia Day is observed each year on April 17 to raise awareness and also to raise funds for the disease. Hemophilia is a congenital lifelong bleeding disorder that prevents the blood from clotting properly, leading to internal bleeding; mostly in the joints, muscles and vital organs like the brain. In India approximately 100,000 people are affected with Hemophilia, with an estimated prevalence rate of 1 in 10,000. Since a lot of people avoid taking the treatment due to its higher cost, the government of India should take the step of making the treatment and medicines available to Hemophilia-affected patients completely free.

Sitaram Yechury elected as general secretary of CPI(M)
Politics and Government > CPI(M) > Apr 20
62 year old Sitaram Yechury was elected as the general secretary of the Communist Party of India (Marxist) by the party's 91 member central committee. Yechury's election faced stiff opposition from the Kerala committee of the party, which preferred 77-year-old S Ramachandran Pillai, who eventually withdrew his candidature. The outgoing general secretary Prakash Karat suggested Yechury's name, which was approved unanimously by the central committee.

ICICI Bank launches NFC based payment technique 'Tap-n-Pay'
India > ICICI Bank > Apr 20
India's largest private sector bank, ICICI Bank, launched a Near Field Communication (NFC) enabled payment technique called 'Tap-n-Pay' in collaboration with Tech Mahindra. The service enables customers to make payments by only tapping on an NFC enabled phone near a merchant's payment counter. However, this service will be available only for a close group of customers, like employees paying for having food at their office canteen, and not for universal services like a debit or a credit card and the merchant will have to first register for the service and then enrol customers for using it. The service will not be limited to the customers of ICICI Bank exclusively and will also be available for customers of all banks.

RBI: Banks can tie-up with e-commerce companies
Banking and Insurance > E-commerce Firms > Apr 21
The Reserve Bank of India has expressed its support for the integration of banks with e-commerce firms to smoothen payments or appointing them as business correspondents for acquiring new customers. RBI deputy governor H R Khan stressed on the need for this collaboration in order to promote banking. RBI has also asked the Telecom Regulatory Authority of India (TRAI) to give priority to banking transactions over others while messaging.

Thursday, April 16, 2015

Starred Articles

India to grow faster than China after 2018 : IMF report
Economy > Growth > Apr 14
A report by the International Monetary Fund (IMF) has stated that India's GDP will grow at a faster rate than that of China's. The reason stated by IMF is the slowdown that the Chinese economy is facing. The forecast stated that China had its lowest growth of 7.4% last year in two decades, which saw the Chinese economy become the second largest in the world. It also predicted that the Chinese growth will further decrease to 6.5% and then to a measly 6.3% its following year and will eventually be overtaken by India's 6.4% predicted by the IMF for the year 2018. However, the Chinese economy supersedes the Indian one by a considerable margin, the Chinese economy stands at $10.4 trillion compared to India's $1.877 trillion as of 2013.

Modi government notifies National Judicial Appointments Commission Act with immediate effect
Politics and Government > National Judicial Appointments Commission Act > Apr 14
With a view to replace the collegium system for appointing judges to superior courts with a more broadbased process in which the executive will have a say, the Modi government notified the National Judicial Appointments Commission Act with immediate effect. NJAC will be a six-member body, comprising the Chief Justice of India and two of his senior most judges, the law minister and two eminent people. Any two of them can veto any candidature. However, this new body has been opposed by many saying the veto power to non-judicial members over judicial members, would damage the independence of the judiciary. A three judge SC bench has referred the matter to a larger bench without restraining the government from going ahead and formalising the rule. The crucial hearing will be held in the Supreme Court on Wednesday.

Outrage and online protests over net neutrality
India > Net Neutrality > Apr 15
Internet users in India have sent over 1.5 lakh emails to the Telecom Regulatory Authority of India (TRAI) over the last week to demand net neutrality. Net neutrality or the notion of treating all internet traffic on par came under the spotlight after TRAI floated a paper on regulatory framework for OTT Services asking for opinions of stake holders. Wattsapp, Skype, Viber and Google Talk are examples of OTT Services. Public outrage increased after Airtel launched its OTT – Airtel Zero last week. By paying to be on Airtel Zero, companies can make sure that their users get free access to their service. Airtel Zero is widely perceived as a violation of net neutrality which could potentially stifle innovation and startup growth  Flipkart, the first company to sign up for Airtel Zero, has backed out of the partnership, citing its commitment to the larger cause of net neutrality in India. Flipkart's move has been viewed as a major boost for the cause of net neutrality in India.

Others

Nehru government was spying on the relatives of Netaji Subhash Chandra Bose
Politics & Government > Netaji Snooping Controversy > Apr 11
Newly declassified papers from the Intelligence Bureau,which are now with the National Archives have proved that the Jawaharlal Nehru led Congress government spied on the relatives of one of India's most important leaders during the pre-independence era, Subhash Chandra Bose. The controversy surrounding Bose's death still intrigues many people, the official declaration was that the leader died in a plane crash at Taiwan in 1945, which is doubted by many. Many governments Congress or non-Congress after the Nehru era have tried to protect the official government stand and refused to declassify sensitive documents citing ties and relationships with friendly countries as a reason. The government holds 87 files related to Bose. The leader's grand-nephew Surya Kumar Bose met PM Modi at Berlin, Germany regarding the declassification of the files and also urged the PM to bring out the truth.

India beat Korea to win bronze medal in Sultan Azlan Shah Cup
Sports > Hockey > Apr 12
India beat Korea in the tie-breaker penalty shootout and won bronze by coming third in the 24th Sultan Azlan Shah Cup. The win is sure to act as a morale booster for the Indian team, which is witnessing a transition phase after new chief coach Paul van Ass took over from Terry Walsh barely a month ago.

Sania Mirza climbs to World No. 1 position
Sports > Tennis > Apr 13
Sania Mirza became the first Indian women to reach the world No. 1 position in the individual doubles ranking. Sania and her Swiss partner Martina Hingis beat Australian Casey Dellacqua and Croatia's Darja Jurak in the title round before claiming the No. 1 title. Sania displaced the joint-No. 1s Italians Sara Errani and Roberta Vinci to claim sole ownership of the top spot of the individual doubles rankings.

Hilary Clinton announces her US presidential candidature
World > US Presidential Elections > Apr 13
US attorney, senator and member of the Democratic Party, Hilary Clinton announced her presidential candidature for the 2016 elections on 12th of April, 2015. Hillary, the wife of former US president Bill Clinton, also ran for the post of president in 2008 where she lost to Barack Obama. The former Secretary of State has promised to fight for the welfare of the average American, saying the people have fought their way in through a tough economic crisis. Meanwhile, the Wikileaks organisation has accused Hilary Clinton of stealing their Twitter logo design for her 2016 presidential campaign.

2G scam: CBI says former Telecom minister A Raja misled then PM Manmohan Singh on policy matters
India > 2 G Scam > Apr 15
The Central Bureau of Investigation (CBI), which is investigating the 2G scam, told a special court that A Raja, the then Telecom minister, misled the former PM Manmohan Singh on important policy matters. The court is trying to separate the 2G case and the several cases, which arose from the case. The CBI had earlier in the year decided to interrogate Singh under tremendous pressure.
The 2G spectrum scam was an Indian telecommunications scam and political scandal in which politicians and government officials undercharged mobile telephone companies for frequency allocation licenses. In a chargesheet filed on 2 April 2011 by the Central Bureau of Investigation (CBI, the investigating agency), the loss was pegged at INR309845.5 million.

Government to push for Rs. 40000 crore worth of tax from FIIs, says finance minister
Economy > FII Taxation > Apr 15
After the Foreign Institutional Investors (FII) lost a case filed by them at a special court called as the Authority of Advanced Rulings against a levy of 20% tax on all capital gains, finance minister Arun Jaitley has announced that the government will push for a demand of Rs. 40000 crore, the amount due as tax from the FIIs. The government abolished Minimum Alternative Tax (MAT) from the 1st of April, 2015 and Mr. Jaitley said the government is only demanding arrears, which have accrued to such a substantial amount.

India builds first smart city in Gujrat
India > Smart Cities > Apr 15
With the urban population set to rise by a huge number, India faces mass urbanisation. Many of its biggest cities are already bursting at the seams and are facing over-population. So India plans to build smart cities with modern facilities to aid growing urbanisation. In light of this situation, India is building its first smart city on the banks of the Sabarmati river in Gujarat. The city will boast of modern infrastructure and will provide an array of amenities to help aid urbanisation in India. India aims to build 100 such smart cities by 2022 to attract foreign investment and create jobs.

Shiv Sena mouthpiece 'Saamna' says voting rights of Muslims should be taken back and family planning should be implemented on Muslims and Christians
Politics & Government > Shiv Sena > Apr 15
Earlier in the week, the official mouthpiece of political party Shiv Sena, 'Saamna' published an article, which said the voting rights of Muslims should be withdrawn as Muslim votes are used for vote-bank politics. The comment drew ire from various sections of the society and has triggered a controversy. Just days after the controversial article was published, 'Saamna' published another provocative editorial, which mentions that family planning should be implemented within Muslim and Christian families as their growing population may become a threat for the majority Hindu population of India.


Wednesday, April 15, 2015

Starred Articles

India beat Korea to win bronze medal in Sultan Azlan Shah Cup
Sports > Hockey > Apr 12
India beat Korea in the tie-breaker penalty shootout and won bronze by coming third in the 24th Sultan Azlan Shah Cup. The win is sure to act as a morale booster for the Indian team, which is witnessing a transition phase after new chief coach Paul van Ass took over from Terry Walsh barely a month ago.

Sania Mirza climbs to World No. 1 position
Sports > Tennis > Apr 13
Sania Mirza became the first Indian women to reach the world No. 1 position in the individual doubles ranking. Sania and her Swiss partner Martina Hingis beat Australian Casey Dellacqua and Croatia's Darja Jurak in the title round before claiming the No. 1 title. Sania displaced the joint-No. 1s Italians Sara Errani and Roberta Vinci to claim sole ownership of the top spot of the individual doubles rankings.

Modi government notifies National Judicial Appointments Commission Act with immediate effect
Politics and Government > National Judicial Appointments Commission Act > Apr 14
With a view to replace the collegium system for appointing judges to superior courts with a more broadbased process in which the executive will have a say, the Modi government notified the National Judicial Appointments Commission Act with immediate effect. NJAC will be a six-member body, comprising the Chief Justice of India and two of his senior most judges, the law minister and two eminent people. Any two of them can veto any candidature. However, this new body has been opposed by many saying the veto power to non-judicial members over judicial members, would damage the independence of the judiciary. A three judge SC bench has referred the matter to a larger bench without restraining the government from going ahead and formalising the rule. The crucial hearing will be held in the Supreme Court on Wednesday.

Others

Sumit Mazumder elected as President of Confederation of Indian Industry for the year 2015-16
Corporate > Confederation of Indian Industry > Apr 07
Sumit Mazumder succeeded Ajay Shriram to become the President of Confederation of Indian Industry (CII) for the year 2015-16 on 7 April 2015. Mazumder currently works as the Executive Chairman of TIPL (Tractors India Pvt. Ltd.) which is a distributor for Caterpillar, USA, in India, Nepal and Bhutan for earthmoving, construction, mining equipment and power systems. Also, Dr. Naushad Forbes was elected as the President-designate of the CII for the year 2015-16. He is the Director of Forbes Marshall, India's leading Steam Engineering and Control Instrumentation firm.

Nasim Zaidi to be the new Chief Election Commissioner
India > Election Commission > Apr 08
As current Chief Election Commissioner HS Brahma prepares to retire, the spot will now be filled by Election Commissioner Nasim Zaidi. The decision comes as a convention of appointing the senior-most EC as the CEC. After Zaidi's appointment, the government will set in motion the process to appoint two election commissioners to fill vacancies in the three-member body.

Deccan Grameena Bank’s name changed to Telangana Grameena Bank
Investment and Banking > Deccan Grameena Bank > Apr 09
Reserve Bank of India in a notification told that the name of Deccan Grameena Bank has been changed to Telangana Grameena Bank. The Union Government had earlier changed the name of the bank through a notification in October 2014. The Union government holds 50 per cent stake in TGB, while 15 per cent share is held by Telangana government and the rest of 35 per cent by the State Bank of Hyderabad. Since March 2006, the bank has existed by the name of Deccan Grameena Bank.

9th IRENA meet in Abu Dhabi to be chaired by India
World > IRENA Meet > Apr 10
The International Renewable Energy Agency (IRENA) Council will be headed by India this year. This meeting is scheduled to be held in Abu Dhabi in June. IRENA is an intergovernmental organisation that promotes adoption and sustainable use of renewable energy with India being one of its founder members.

24-hour female helpline 'Saheli' launched in Jammu
India > Female Helpline > Apr 12
Jammu lanches a 24-hour helpline named 'Saheli' to help the female victims of domestic violence and other crimes. The helpline initiated by Aditi welfare India Charitable Trust enables women in distress to call the Saheli helpline number and discuss their grievances related to family or social. The helpline also provides them with counselling regarding various other women-oriented schemes of central and state government. Help from legal experts would also be taken to provide support in their court cases.

Migrants can't vote in native place: EC to SC
India > Elections > Apr 13
The Election Committee has told the Supreme Court that people who migrate from their native places cannot cast vote in elections in that constituency. It also said that such a person should get himself/herself enrolled in the electoral roll of the constituency where he/she is residing after migration. In its affidavit, EC said that the qualification for being resident at a given place is not fulfilled merely because a person owns a house at that place. However, numerous NRIs have opposed this and raised the issue of migrant voters within the country.

20 MoUs and Agreements signed between India and France
Politics and government > Indo-French Relations > Apr 13
Giving a boost to the bilateral co-operation between India and France, the two nations signed 20 Memorandum of Understandings (MoUs) and Agreements on 10 April 2015. The agreements cover the fields of Defence and Nuclear Energy, Space, Economic relations, Railways, Energy, Tourism, Science and Technology, Skill Development and Ayurveda. Apart from this, India also agreed to buy 36 multi-role Combat Aircraft Rafale fighter jets in a flyway condition.