Wednesday, June 25, 2014

INDIA

Slow Monsoon creates drought-like conditions, food inflation might go up

  
June to September is usually Monsoon in India. However, the Monsoon has advanced very little in the last 10 days leaving agricultural lands dry and arid. Unless Monsoon advances rapidly, the country will have to deal with rising food prices and a weak rural demand. The rainfall deficit in the country is 37% and the June rainfall is among the lowest in the country. 

India extends ban on import of milk and milk products from China by 1 year

Till June 2015, India has extended the six year old ban on import of milk and milk products including chocolates from China. The ban was first imposed in 2008 on account of presence of melamine, used for making fertilizers and plastics.

World 

ISIS seizes control of Iraq’s main border crossing with Jordan

Militants of the Islamic State of Iraq and Syria (ISIS) have seized control of Iraq’s main border crossing with Jordan, Turabil, late Sunday, putting the militants within easy reach of Jordan and Saudi Arabia, U.S. allies in the region. The latest conquests also give the Sunni insurgents control to hundreds of miles of territory spanning the Iraq-Syria border, thereby advancing their goal of establishing a pan-Islamic state, modeled along the lines of the 7th-century Islamic caliphate.

US says it is ready to repair ties and work with Egypt under President el-Sisi

US Secretary of State John Kerry, during his recent visit to Egypt, has said that the United States was ready to work in mutual cooperation with the new government of Egypt under President Abdel Fattah el-Sisi. Sisi had led last year’s military takeover against Egypt’s first democratically elected President Mohamed Morsi. 

After US and Japan, India most affected by online banking malware: Report


According to a Trend Micro Q1, 2014 threat roundup, India is the third most affected country by online banking malware. The report also revealed that since law enforcement activities against online theft are slowly being improved, cyber criminals have now started to add more layers to ensure anonymity in order to protect their identities and avoid getting arrested.

Economy

RBI hikes amount that could be carried overseas from Rs. 10, 000 to Rs. 25, 000 


The Reserve Bank of India has increased the amount that could be carried overseas from Rs. 10000 to Rs. 25000. Any person residing in India can take up to Rs. 25,000 in Indian currency notes on overseas travels and return with the same amount after the temporary visit.

TARC accepts key BCIC recommendations for tax reforms


The Tax Administration Reform Commission (TARC) has accepted the recommendation of the Bangalore Chamber of Industry and Commerce (BCIC) regarding the realignment of the Central Board of Excise and Customs (CBEC) and the Central Board of Direct Taxes (CBDT) for a more unified management structure.

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Wednesday, June 18, 2014

India

First kerosene-free city in India

Delhi has become the first kerosene-free city in the country. A kerosene - Free scheme was launched in 2012 in collaboration with three Oil Marketing Companies and Union Ministry of Petroleum and Natural Gas under which no subsidized kerosene were being issued, had an expenditure of Rs.62 crore.

Sports

Jitu Rai wins silver at ISSF World Cup in Munich

Indian pistol shooter Jitu Rai won the silver medal in the men's 10 metre air pistol event at the ISSF World Cup in Munich. He shot 199.4 in the finals after aggregating 583 in the qualification stage.
Spain's Pablo Carrera won the gold after shooting 201.3, while Pavlo Korostylov of Ukraine bagged the bronze.

Australia clinches third title in Hockey World Cup

Australia clinched their third hockey World Cup by successfully defending the title that they had won four years ago when they thrashed hosts Netherlands 6-1 in the final at the Kyocera Stadium.
Argentine Gonzalo Peillat won the top goal scorer award with 10 goals while Australian captain Mark Knowles was named the player of the tournament. Dutch custodian Jaap Stockmann won the best goalkeeper award and Jeremy Hayward was named the young player of the tournament.

World

India becomes permanent member of Washington Accord

In a major boost to technical education and engineering programmes, India joined a select group of 17 countries who are permanent signatories of the Washington Accord. The meeting of the International Engineering Alliance of WA member countries met in Wellington, New Zealand, and gave India the signatory status.

Forced marriage banned in Britain

Forcing women, men and children into marriage was made a criminal act in Britain. The new law made it a criminal offence to force people into marriage with a maximum jail term of seven years. It also made it a criminal act to force a British national into marriage outside the United Kingdom.

 To read these and more such Current Affairs news, go here

Two photos from around the world



Opening ceremony of FIFA World Cup 2014 which took place at the Corinthians Arena in Sao Paulo.




Vishal Sikka, a former SAP AG executive board member was appointed as Infosys' Chief Executive Officer and MD.

Wednesday, June 11, 2014

Highlights of major events that took place this week:

Sports

Rafael Nadal wins French Open Men’s Singles; Maria Sharapova becomes Women’s Singles champion

Spain’s Rafael Nadal, the current World no. 1 Tennis player, defeated Serbian player and World no. 2 Novak Djokovic to win the Men’s singles title in the French Open 2014. The victory made Nadal the first tennis player to have won 5 consecutive French Open titles. This was Nadal’s 9th French Open title and his 14th Grand Slam title. This equals him to legendary player Pete Sampras who also has 14 Grand Slam Singles titles, only 3 behind the leader Roger Federer who has 17.

In the second longest match for a women's singles final in the French Open, Russia’s Maria Sharapova defeated Simon Halep of Romania to win the women’s singles title. This was Maria’s fifth Grand Slam title and the second one at French Open.


(Picture courtesy - The New York Times)

World

World Environment Day celebrated on 5th June

World Environment Day was celebrated across the world on 5th of June. This year, the event is being globally hosted by Barbados, a small Caribbean island, leading the way in solar energy. Barbados is the first Small Island Developing State to host the World Environment Day. The theme for this year is `Small Island Developing States and Climate Change`, and the official slogan is `Raise Your Voice, Not the Sea Level`. Environmentalists and leaders from governmental, non-governmental organisations, and NGOs met at the conference to chalk out plans for environmental protection.





Banks

RBI eases documentary address-proof norms helping migrant and transferrable workers




The Reserve Bank of India (RBI) has eased the norms for documentary address-proof and said that henceforth customers may submit only one proof of address, either current or permanent, while opening a bank account or while undergoing periodic updation. In case the proof of address furnished by the customer is not the local address or the address where the customer is currently residing, the bank may take a declaration of the local address on which all correspondence will be made by the bank with the customer. No proof needs to be submitted for such local address. The RBI eased the rigorous customer verification norms keeping in mind migrant workers or transferrable employees, who have to change locations quite often.

 To read these and more such Current Affairs news, go here

Wednesday, June 4, 2014

Highlights of major events that took place this week:

India

6 gang rapes in 96 hours in UP, reveals utter state of lawlessness:

Two teenage cousin sisters aged 14 and 15, were brutally raped and murdered by attackers who hung their bodies from a Mango tree in Uttar Pradesh’s Badaun district. The incident that has enraged the nation has led to a huge public outcry and forced the international community to take notice. UP has witnessed 6 rapes in only 96 hours and the police or the state government is still to take adequate steps to prevent such crimes. These incidents have highlighted the growing lawlessness and increasing number of crimes against women in UP.

Mango import ban: EU to send delegation to India:

A team of scientific experts from the European Commission will visit India in September to verify measures put in place by the country in order to help lift the ban by the European Union (EU) on the import of Indian mangoes. The Indian government had threatened to drag the European Union to the World Trade Organisation and had written to the EU to withdraw the ban on Alphonso and other 4 vegetables including bitter gourd and eggplant.

Corporate

RIL to acquire Network 18 in one of the biggest deals, key executives quit:

In one of the biggest deals in the Indian media industry, Mukesh Ambani -owned Reliance Industries Ltd. (RIL) will acquire control in Network 18 Media and Investments Ltd., including its subsidiary TV 18 Broadcast Ltd. RIL has approved funding of 4,000 crore rupees (or roughly $730 million) for taking over Network18. This is a strategic takeover for RIL which can use the wide range of content produced by Network18 when it launches its 4G network later this year.

To read these and more such Current Affairs news, go here