Wednesday, April 8, 2015

Starred Articles

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.


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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