India
Rail Budget 2014-15: Passenger safety of paramount importance.
Union Rail Budget 2014-15 was presented by the Union Railway Minister Sadanand Gowda. This is the first rail budget presented by any Bharatiya Janata Party (BJP) minister.
Highlights:
- Highest ever plan outlay of Rs. 65,455 crore for 2014-15
- Expenditure in 2014-15 pegged at Rs. 149,176 crore
- FDI in railway projects, except in operations
- No new increase in passenger fares and freight charges
- Bullet train in Mumbai-Ahmedabad sector
- Diamond quadrilateral for high speed trains
- Plan to hike speed of trains to 160-200 km/hr in 9 sectors
- Online booking to support 7,200 tickets per minute; to allow 1.2 lakh users log in simultaneously
- Reservation system to be revamped, ticket-booking through mobile phones, post offices to be
- popularised; Online platform for unreserved tickets
- Food can be ordered through SMS, phone; Food courts at major stations
- Combo parking-platform tickets at stations
- Women RPF Constables to escort ladies coaches; 4,000 women constables to be inducted
- RO drinking water in some stations and trains
- Automatic door closing in mainline and sub-urban coaches
- Battery operated cars for differently-abled and senior citizens at major stations
- Office-on-Wheels: Internet & workstation facilities on select trains
- Railway university for technical and non-technical subjects
- Parcel traffic to be segregated to separate terminals to make passenger traffic unhindered
- Solar energy to be tapped at major stations
Bank
State Bank of India opens 5 digital branches
State Bank of India (SBI) has launched five digital branches in Delhi, Mumbai, Bangalore, Chennai and Ahmedabad on the occasion of its 60th Foundation Day and is in the process of opening a sixth branch in Kolkata shortly. Called as ‘sbiINTOUCH’, these outlets will offer services like instant account opening, personalised debit cards and ATM machines that accept deposits, among other services. The digital store will also bring together services from group companies such as insurance, MFs, credit cards etc. Global consultancy firm Accenture provided technical support as well as training of employees for roll out of sbiINTOUCH outlets.
RBI relaxes norms for overseas investment
The Reserve Bank of India has eased rules for overseas investment of Indian corporates by raising the borrowing limit. The financial commitment should be limited within 400% compared to earlier level of 100% of the net worth as per the last audited balance sheet of the company. The RBI, however, said that any financial commitment exceeding $1 billion (or its equivalent) in a financial year would require prior approval of the Reserve Bank even when the total financial commitment of the Indian party is within the eligible limit.
World
India to allow access to Pakistani SIM Cards soon
In a move that would help foster better trade ties and bridge the trust deficit between India and Pakistan, without posing an additional security threat, Commerce Ministry of India has proposed permitting the use of Pakistani SIM cards in India. Visitors from Pakistan, especially the business community, had often complained about the inconvenience of not being able to use their mobile connections in India.Although Pakistani businessmen enjoy a 10-city visa access to India, they are forced to procure local SIM cards or turn to other means to stay connected. Pakistan does not allow SIM cards issued in India to function in its territory either. The commerce department has also raised the matter with the telecom department, which has said that access for Pakistani SIM cards may be allowed subject to clearance by the home ministry.This is the second communication sent by the Commerce Ministry on the matter. The first was sent when the UPA was in power.
Fasting during Ramzan illegal, against Communist principles: China
China has ordered schools and government offices in the northwest Xinjiang region to ban fasting during the ongoing holy month of Ramzan. Statements posted in the past several days on websites of schools, government agencies and local party organizations in the Xinjiang region said the ban was aimed at protecting students' wellbeing and preventing use of schools and government offices to promote religion. Statements on the websites of local party organizations said members of the officially atheist ruling party also should avoid fasting.Similar bans have been imposed in the past on fasting for Ramadan, which began at sundown Saturday. But this year is unusually sensitive because Xinjiang is under tight security following attacks that the government blames on Muslim extremists with foreign terrorist ties.
Sports
Novak Djokovic wins Wimbledon Men’s Singles beating Roger Federer; Petra Kvitova wins Women’s singles title
Novak Djokovic won his second Wimbledon Title and seventh career major beating Roger Federer on
Sunday. The defeat dashed Federer’s chances of a record eighth Wimbledon triumph. Petra Kvitova of the Czech Republic won her second Wimbledon title in the shortest women's final since 1983 defeating Canada's Eugenie Bouchard on Saturday. Both Djokovic and Petra had won their maiden Wimbledon titles in 2011. In the men’s doubles final, Vancouver's Vasek Pospisil and his American partner Jack Sock won against defending champions Bob and Mike Bryan of the United States. In the women’s doubles final, Sara Errani and Roberta Vinci of Italy beat Timea Babos of Hungary and her partner Kristina Mladenovic of France to claim the title. Australian Samantha Stosur and her Serbian playing partner Nenad Zimonjic beat Maxim Mirnyi of Belarus and his Taiwanese playing partner Chan Hao-ching to win the Wimbledon mixed doubles title.
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