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Enforcement
Directorate files charge-sheet against 68 people in the NSEL scam
India
>
Scams > 2 April
The Enforcement Directorate
(ED) filed a charge-sheet against 68 people including the directors
of the National Spot Exchange Ltd (NSEL), its key officials and the
officials from defaulter companies with respect to the Rs. 5,600
crore fraud at the commodity spot exchange. NSEL had declared 22
members as defaulters after the payment crisis broke out, and the
total outstanding from these defaulters as on January 30, 2015,
stands at Rs. 5,318.57 crore.
The NSEL scam or NSEL fraud
is a systematic and premeditated fraud perpetrated in the commodity
market on the National Spot Exchange based in Mumbai,
it came to light after the National Spot Exchange failed to pay its
investors in commodity pair contracts after 31 July 2013.
PM
Modi launches India's first Air Quality Index
India
> Air
Quality Index > 6 April
An Air Quality Index that
will inform the public about the level of pollution in the air on a
daily basis in real-time has been launched by PM Narendra Modi. This
comes forth as a big step to curb air pollution in India. The index
will be operational in ten cities to start with. At the launch of the
index, PM said India's contribution to the pollution level in the
world was one of the lowest and urged the countrymen to change their
lifestyle in order to help protect the environment.
India
successfully evacuates 4000 Indians trapped in Yemen war zone
World
> Indian
Navy and Air India > 8 April
After 4000 people were
trapped in a war zone at Yemen, the Indian government successfully
rescued its citizens through various rescue operations carried out by
the Indian Navy and Air India. The operation was code named as
Operation Raahat, and will now be wrapped after its successful
completion. Indian Naval Ships Tarkash, Sumitra and Mumbai carried
out multiple rescue operations with the help of Air India, the
country's national airline. India was asked by various countries of
the world to rescue their citizens trapped in the conflict-zone. The
conflict started after Saudi Arabia launched air strikes against
Iran-allied Houthi rebels in Yemen.
MUDRA
Bank for small entrepreneurs launched by PM Modi
India
> MUDRA
Bank > 8 April
Rs 20,000-crore MUDRA Bank
was launched by PM Narendra Modi, which is set to provide credit of
up to Rs 10 lakh to small entrepreneurs and act as a regulator for
'Micro-Finance Institutions' (MFIs). The bank aims to fund the
unfunded small entrepreneurs who employ 12 crore people compared to
big industrial houses that employ 1.25 crore, in order to create more
employment opportunities. According to Finance Minister, this
initiative will not only help in improving the quality of life of
these entrepreneurs but also turn them into strong instruments of GDP
growth and employment generation.
Others
RBI
approves Kotak Mahindra-ING Vysya merger
Corporate
> Kotak
Mahindra-ING Vysya > 2 April
India's
fourth largest private sector lender is set to be formed as Reserve
Bank approves the merger deal between Kotak Mahindra Bank and ING
Vysya. The merged entity formed after transfer of all the tangible
and intangible assets to Kotak Mahindra Bank, now has 1,214 branches,
with a wide-spread pan-India network. The Rs 15,000 crore merger deal
between Kotak Mahindra and ING Vysya had already received the
Competition Commission's approval earlier this year.
India
stands at 119th
position on global business resilience index
India
> Global
Resilience Index > 2 April
India ranks 119 among 130
countries on the 2015 FM Global Resilience Index despite its scope
and global potential. Economy suffering from a number of problems
including extreme poverty has been cited as the reason for India's
fall from 112th rank in 2014. The index measures business resilience
of nations based on economic, risk quality and supply chain factors.
While Norway tops the list, Venezuela is ranked last on the list.
147
dead after Al-Shahbab militants attack Garissa University in Kenya
World
> Militancy > 3 April
In an attack carried out by
Al-Shahbab militants at Garissa University in Kenya has killed more
than 147 people, which mostly are reported to be students. The
heavily armed attackers entered the university and killed two
security guards, they then proceeded to randomly shoot at students.
Apparently, the militants singled out Christians and killed them.
Four of the five attackers died after their suicide vests detonated,
while the fifth attacker was arrested. More than 500 students managed
to escape.
The attack is the direct
result of Kenyan troops entering Somalia in October 2011 in an effort
to stop Islamists from crossing the border between the two countries
and kidnapping people, but their presence achieved the opposite
effect provoking al-Shabab to increase its activity in Kenya,
Allegations
of Voyeurism on Fabindia after Smriti Irani spots CCTV in trial room
India
> Crime > 3 April
A CCTV camera positioned for
capturing women changing in trial rooms has been spotted by Union HRD
Minister Smriti Irani at Fabindia store, Goa. Following this, the
apparel store operated by Fabindia has been sealed. The Goa police
has detained three to four people in connection with the incident.
However, the CEO and Managing Director of Fabindia failed to appear
before the Goa police after they were summoned for questioning to the
police station.
Cadbury
slapped with a Rs. 574 crore notice
India
> Business > 6 April
Confectionery giant Cadbury
India Ltd (now Mondelez India foods Pvt Ltd) has been slapped with a
notice of Rs. 574 crore with respect to excise duty evasion. The
Directorate General of Central Excise Intelligence (DGCEI) had in
2011 initiated a probe against the company for allegedly misusing
area-based exemption for its new unit in Baddi, Himachal Pradesh even
before it came into existence. The notice was served to the company
after the DGCEI completed its investigation
Massive
immunisation campaign 'Indradhanush' launched
India
> Health > 7 April
On the occasion of the World
Health Day, India launched 'Mission Indradhanush', which is a massive
vaccination campaign and aims to cover the vaccination of all
children who are non vaccinated or partially vaccinated against seven
preventable diseases by the year 2020. In its initial phase of April,
2015 to July, 2015 it will cover pregnant women and all children up
to the age of two years. Initially the focus will be on 201
districts, which have been termed as “high priority” and will
cover an additional 297 districts in the latter phase. The Hindi word
'Indradhanush' after which the mission is named means a rainbow and
like its seven colours, will try and prevent seven diseases, namely -
diphtheria, whooping cough, tetanus, polio, tuberculosis, measles and
hepatitis B. Despite of providing free vaccination for more than the
past 30 years, only 65% of India's children receive complete
vaccination. The mission aims to cover and sustain at least 90% of
the children by the year 2020.
Malaysia
resumes detention without trial with Anti-Terrorism Law
Politics
& Government >
Malaysia > 7 April
Owing to the threats posed
by Islamic State and other extremists groups, the Malaysian's
parliament passed an anti-terrorism law under which suspects can be
held for years without trial, bringing back security measures
repealed in 2012. After nearly 15 hours of debate, the Prevention of
Terrorism Act was passed and since then, it has been facing
criticisms by opposition law makers.
PM
Modi fights for India's access to nuclear fuel
Politics
& Government >
World > 7 April
In a strong statement
addressed to the developed nations, PM Modi said that the developed
world should allow India to import nuclear fuel to produce clean
energy instead of 'lecturing' the country on low-carbon growth path.
The statement comes ahead of the final Paris talks. According to
Modi, India 's progress on the low-carbon path has been hindered by
the imposition of rules by the developed nations. The western
countries have been criticising India of “unhealthy” air quality,
especially the metros. However, Modi reverted back saying Indians
have always conserved nature and have grown up in a culture where
Nature is worshipped like God.
SC
refers NJAC law validity to larger bench
India
> Justice > 7 April
The constitutionality of BJP
government's National Judicial Appointments Commission law has been
challenged by the Supreme Court when it referred to a larger bench
petitions. The new government had scrapped the two-decade-old
collegium system of judicial appointments and replaced it with the
NJAC. Now the bench set up by the Chief Justice of India will decide
the validity of the legislature's decision on merits. The apex court
was hearing the matters to decide whether the petitions challenging
the validity of the Constitutional Amendment Act and the NJAC Act
were maintainable or not.
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