Finance/Business/Economy News
1. RBI increased RTGS
business hours to 12 hours on weekdays
business hours to 12 hours on weekdays
- The Reserve Bank of India (RBI) on 15 December 2014
increased RTGS (real time gross settlement) business hours from 7.30 hours to
12 hours. With this, now the business hours for RTGS will be 8 am to 8 pm on
weekdays as against the earlier 9 am to 4.30 pm. - Further on Saturdays, the RTGS business hours has been
increased from earlier 5 hours to 7.30 hours, that is, now a consumer will be
able to transfer fund online between 8 am to 3.30 pm as against the earlier
timings of 9 am to 2 pm. - The decision will promote electronic payments and it will
be effective from 29 December 2014.
Back ground
- In 2013, RBI launched RTGS system, to keep enhancing the
systems and procedures to meet the growing needs of markets or customers, and
to cater to the expanding volume and to provide liquidity. - The current minimum amount that can be transferred
through RTGS channel is 2 lakh rupees. The amount below 2 lakh rupees can also
be transferred online via NEFT (National Electronic Fund Transfer). - The RBI revised the RTGS business hours to meet the
market expectation. There has been demand for extending business hours of the
RTGS system to facilitate customer and inter-bank transactions and also to
facilitate other market obligations to settle in the RTGS system.
2. RBI imposed monetary
penalty on ICICI and Bank of Baroda for violating KYC/AML Instructions
penalty on ICICI and Bank of Baroda for violating KYC/AML Instructions
- The Reserve Bank of India on 17 December 2014 imposed
monetary penalty on ICICI bank and Bank of Baroda for violation of its
instructions regarding norms on Know Your Customer (KYC) and Anti Money
Laundering (AML).
Penalty details of the
two banks
two banks
- ICICI Bank – 5 million rupees
- Bank of Baroda – 2.50 million rupees
- RBI imposed the penalties on these organizations in
exercise of powers vested under the provisions of Section 47(A)(1)(c) read with
Section 46(4)(i) of the Banking Regulation Act, 1949. - Apart from this, RBI also cautioned State Bank of India,
Axis Bank and State Bank of Patiala for violating KYC or AML instructions. - RBI took the action on the basis of a complaint from a statutory
organization in August 2013 through which details of a fraud committed in these
five banks, namely, State Bank of India, ICICI Bank Ltd., Bank of Baroda, Axis
Bank Ltd. and State Bank of Patiala, with the participation of certain
officials of the statutory organization were brought to the Reserve Bank’s
notice. - The complaint mentioned that fraudsters managed to open
fictitious accounts in the name of the statutory organisation in the above five
banks and operated the accounts mainly for encashing cheques/demand
drafts/postal orders of which they were not the rightful owners, for periods
ranging from one month to two years, without being detected by the banks.
3. Empays Instant
Money Transfer service received RBI nod
Money Transfer service received RBI nod
- Empays, a provider company of multi-bank payment systems,
on 17 December 2014 announced that its Instant Money Transfer (IMT) service has
received authorisation from the Reserve Bank of India (RBI). - The company was awarded the IMT payment system certificate
of authorisation under the Payments and Settlements Act 2007. - The certificate issued to Empays enables its IMT payment
system to access clearing and settlement arrangements between member-banks
directly under the RBI, making it work across banks.
IMT payment system
- The IMT payment system is a multi-bank mobile transfer
solution and it combines mobile phones and ATMs to reach the unbanked making it
a unique milestone in money transfers, payments and financial inclusion in
India.
Payments and
Settlements Act, 2007 (PSS Act, 2007)
Settlements Act, 2007 (PSS Act, 2007)
- The PSS Act, 2007, that came into force on 12 August
2008, provides for the regulation and supervision of payment systems in India
and designates the RBI as the authority for that purpose and all related
matters. The Act also provides the legal basis for netting and settlement
finality.
4. IRDA slaps Rs. 31
lakh penalty on Canara HSBC Oriental Life Insurance
lakh penalty on Canara HSBC Oriental Life Insurance
- The Insurance Regulatory and Development Authority (IRDA)
has imposed Rs. 31 lakh penalty on Canara HSBC Oriental Bank of Commerce Life
Insurance Company Ltd for setting policies in favour of master policy holders
under non-employee/employer groups. - “The practice of issuing claim payments in favour of
Master Policy Holders (Self Help Groups in this case) but not in favour of the
beneficiary of the group insurance policy has a potential of jeopardising the
financial interests of the dependents of the deceased policyholder,’’ the
regulator said in a circular issued here on Thursday. - The regulatory had also warned the company citing many
other lapses in adhering to the norms in many cases.
5. HAL bags PSE
Excellence award
Excellence award
- Hindustan Aeronautics Limited (HAL) has been conferred
the PSE Excellence Award 2014 for ‘Corporate Governance & Innovation in
Business’ by the Indian Chamber of Commerce (ICC) at the 5th Summit on “India:
Public Sector Agenda” organised by the Indian Chamber of Commerce with the
support of Department of Public Enterprises and Ministry of Heavy Industries. - HAL Chairman, R. K. Tyagi, received the award from Uttar
Pradesh Ram Naik in New Delhi on Wednesday. - PSE Excellence Awards constituted in 2010, is an
initiative to salute the industry game changers and recognise contributors to
the Indian economy in view of the positive role played by the PSEs in
addressing global demands. - A conclave was also organised to take view of PSEs space
from a global perspective, highlight the achievements and check readiness of
PSEs in global supply chain.
6. Esaf Microfinance
in running for European award
in running for European award
- Thrissur-based Esaf Microfinance has been shortlisted for
the European Microfinance Award 2014 for its ‘clean energy for the poor’
initiative. - Esaf, along with two other finalists, were picked for
‘contributing directly to improving the lives of the clients.’ - Esaf Microfinance operates in six States, covering 34
districts and reaches out to more than seven lakh members. - Dia Vikas Capital, a subsidiary of Opportunity
International, Australia, and Manaveeya Holdings, a subsidiary of Oiko Credit
Netherlands, are major social investors in Esaf. - Esaf is now in the process of applying for a small bank
licence, a company spokesman said without disclosing details. - K Paul Thomas, Managing Director, said Esaf has supported
more than 70,000 clients with clean energy solutions in the form of solar
energy products, smart cooking stoves, and water filters.
News Related to India and Indian Polity
7. DAC approved proposals to buy military
equipment worth 4444 crore rupees
equipment worth 4444 crore rupees
- The
Defence Acquisition Council (DAC) headed by Defence Minister Manohar Parrikar
on 17 December 2014 approved proposals to buy military equipments worth 4444
crore rupees.
These proposals include
- Purchase
of four helicopters for survey vessels for the Indian Navy would cost 2324
crore rupees. - Upgradation
of Indigenous Samyukta Electronic Warfare systems (EWS) would cost 1682 crore
rupees. EWS would be modernised along with a maintenance contract for the next
10 years. Samyukta consists of vehicles with equipment for surveillance,
interception, monitoring and jamming of all communication and radar signals - Proposal
relating to purchase of P-7 Heavy Drop Platform and the naval survey vessels
would cost 402 crore. This will extend the life of airbags fitted under the
platform for damage free touchdown of payload weighing less than 7 tonnes from
eight to fifteen years. - Proposal
to acquire propeller engine for offshore patrol vessel of the Coast Guard would
cost 36 crore rupees.
- However,
DAC could not reach on a conclusion on the joint bid of Tata Sons Ltd and
Airbus to replace the Indian Air Force’s (IAF) Avro transport fleet though the
tender floated by IAF was cleared by DAC in its meeting on 19 July 2014. - Tata
Advanced Systems Ltd (TASL) and Airbus Defence and Space had made a joint bid
for 56 medium-transport aircraft of IAF valued at 20000 crore (3 billion US
dollars). - Avro
transport fleet is a twin-turboprop tactical military aircraft of six to eight
tonne class which has a cruise speed of 800 kms per hour and a range of
2500-2800 kms. - Earlier on
22 November 2014, DAC had cleared a proposal to buy 814 artillery guns for the
army at a cost of 15750 crore rupees to fill gaps in India’s defence
capabilities. The army has not bought a single artillery gun since the Bofors
scandal exploded in the late 1980s. - The
artillery guns would be bought under the government’s “Buy and Make” procedure
introduced in 2013 to strengthen the indigenous defence sector. The plan is to
go in for off-the-shelf purchase of 100 guns and manufacture the remaining in
the country. - With the
passage of this 4444 crore rupees proposal and including the 15750 crore rupees
proposal of November 2014, NDA government led by Prime Minister Narendra Modi
had cleared defence projects of more than 140000 crore rupees since it was
voted into power in May 2014.
8. ISRO successfully launched GSLV Mark-III-X
from Sriharikota
from Sriharikota
- The Indian
Space Research Organisation (ISRO) successfully launched India’s heaviest
rocket GSLV Mark-III-X carrying Crew module Atmospheric Reentry Experiment
(CARE) from Sriharikota in Andhra Pradesh on 18 December 2014. It weighs 630
tonnes.
Indian Space Research Organisation (ISRO)
- Objective
behind the test of the 155 crore rupees mission was to check the atmospheric
stability around four tonne luggage and study the re-entry characteristics of
the crew module. - The GSLV
Mark-III-X lifted off from the second launch pad of the Satish Dhawan Space
Centre carrying the human crew module CARE and separated the crew module at an
altitude of 126 km for re-entry into the earth’s atmosphere. - The module
controlled by 3 parachutes safely splashed down into the Bay of Bengal off
Andaman and Nicobar Islands and was recovered by coast guards near Indira
Point, the southernmost point of India. - The
experiment lasted for about 20 minutes saw all the events as pre-planned. The
successful completion of the experimental test will boost India’s mission of
sending human to the space. It will also double the capacity of payloads India
can carry into space. - The full-fledged
launch of the rocket will take place in two years and is likely to be held in
another two years. - A few years
back ISRO had carried out a similar experiment on a smaller scale in which the
module had orbited around the earth for 15 days before entering back.
Importance of GSLV MK – III-X
- It will
help India become self-reliant in launching heavier communication satellites of
INSAT-4 class weighing 4500 to 5000 kg. - It would
also enhance the capability of the country to be a competitive player in the
multimillion dollar commercial launch market. - It will
double the capacity of payloads India can carry into space boosting India’s
mission of sending human to the space.
9. Druzhba-Dosti: A Vision for Strengthening
the Indian-Russian Partnership over the Next Decade
the Indian-Russian Partnership over the Next Decade
- Druzhba-Dosti
is a term used for vision statement of India and Russia over the next decade
released during the 15th Indo – Russia Annual Summit held in New Delhi on 11
December 2014. - The joint
statement was released by during the visit of Russian President Vladimir V
Putin to India at the invitation of the Prime Minister of India Narendra Mod to
hold the annual summit. - The vision
statement focused on strengthening the partnership over the next decade through
concrete initiatives in diverse areas so as to make the bilateral institutional
dialogue architecture more result-oriented and forward-looking. Both the
counties also resolved to continue to meet on the margins of multilateral events.
10. SC directed Union Government to not appoint
CVC without its approval
CVC without its approval
- Supreme
Court (SC) on 17 December 2014 directed the Union government to not appoint the
Chief Vigilance Commissioner (CVC) and Vigilance Commissioner (VC) without its
approval. - The apex
court asked the Union to constitute a panel comprising of 15 names to select
the CVC and submit it in a sealed envelope by 15 January 2015. - Although
the court allowed the Union government to continue with the selection process
but asked it to submit the details of the selection process. To which, Attorney
General Mukul Rohtagi informed the court that he will submit the relevant
details in sealed cover. - The
direction was given by a SC bench comprising of Chief Justice of India Justice
H L Dattu and Justice Madan B Lokur. - The
direction was given by the SC while hearing a Public Interest Litigation (PIL)
filed by Non-Governmental Organisation (NGO) Centre for Integrity, Governance
and Training in Vigilance Administration. - In the
PIL, the NGO alleged that the selection process for the CVC being done by the
Union is opaque as vacancies related to the post of CVC and one VC has not been
widely publicized keeping the door closed to common man. The post of CVC and
VCs has been lying vacant since the completion of tenure of the then CVC Pradip
Kumar and the then VC J M Garg on 28 September 2014 and 7 September 2014
respectively. - The NGO
further contended that Union government ought to have similar procedure for
making appointment of CVC and VCs as is being done in the case of filling up
one post of chairperson and eight posts of members in the Lokpal under the
provisions of the Lokpal and Lokayuktas Act, 2013.
11. Arun Jaitley to adopt villages in Gujarat
- Union
Finance Minister Arun Jaitley has decided to adopt Karnali group panchayat
villages in Gujarat’s Vadodara district as part of the ‘Sansad Adarsh Gram Yojna’,
a senior official has said. - Four
villages of Karnali, Pipaliya, Vadiya and Baglipura are covered under Karnali
group panchayat of Dabhoi taluka. - Vadodara
District Collector Vinod Rao told PTI that he received a letter in this regard
from Jaitley yesterday. - “The
district administration will develop various facilities in the villages and
make Karnali a tourist spot as lakhs of devotees of Lord Shiva visit the Kuber
Bhandari temple located in this village every year,” Rao said. - The total
population of the four villages is 2,506 — Karnali (736), Pipaliya (717),
Vadiya (631) and Baglipura (422), sub-divisional magistrate L B Bambhaliya
said. - The
Karnali village’s ancient Kuber Bhandari temple, having mythological
importance, has the potential to emerge as a major tourist spot as lakhs of
devotees visit it to offer prayers on the day of ‘amavasya’, a local priest
said.
12. Tashi-Nungshi became world’s 1st twin to
climb highest peaks of seven continents
climb highest peaks of seven continents
- Tashi
Malik and Nungshi Malik from Dehradun, Uttarakhand on 16 December 2014 became
the world’s first twin and sibling to climb the highest peaks of the seven
continents. - They
achieved the feat after scaling Antarctica’s highest mountain, Mount Vinson at
4892 meters during their Mission 2 for 7. The two sisters dedicated Mission 2
for 7 to the cause of the Indian girl child.
Journey of
Tashi Malik and Nungshi Malik in Mission 2 for 7
Tashi Malik and Nungshi Malik in Mission 2 for 7
- February
2012: Conquered Mount Kilimanjaro in Tanzania (Africa continent) - May 2013:
Conquered Mount Everest in Nepal (Asia continent) - August
2013: Conquered Mount Elbrus in Russia (Europe continent) - January
2014: Conquered Mount Aconcagua in Argentina (South America continent) - March
2014: Conquered Mount Carstensz Pyramid in Indonesia (Oceania continent) - June
2014: Conquered Mount McKinley in Alaska (North America continent) - December
2014: Conquered Mount Vinson of Antarctica (Antarctica continent)
13. Ghanta Chakrapani appointed as the first
Chairman of TSPSC
Chairman of TSPSC
- Academician
and journalist Ghanta Chakrapani was on 17 December 2014 appointed as the first
Chairman of the Telangana State Public Service Commission (TSPSC). He will hold
the TSPSC office for six years. - Chakrapani
is presently the Dean of Faculty of Social Sciences at B.R. Ambedkar Open
University (BRAOU).
Ghanta Chakrapani
- Born in
Yaswada village of Telangana, Ghanta Chakrapani did his post-graduation in
Sociology and Communication and Journalism from Osmania University. - He worked
in all the popular Telugu newspapers including Udayam, Andhra Jyothi before
moving into academics.
Background
- Earlier in
August 2014, Telangana government
notified a Government Order (GO No 43) for constitution of the Telangana State
Public Service Commission (TSPSC). - According
to the Article 315 of Indian Constitution and Section 83(2) of the Andhra
Pradesh Re-Organisation Act, 2014 (Central Act.6/2014), it is provided for
constitution of a Public Service Commission in the Successor State of Telangana
after its bifurcation from Andhra Pradesh.
14. SC directed Union government to complete
fencing along Indo-Bangladesh border in 3 months
fencing along Indo-Bangladesh border in 3 months
- The
Supreme Court (SC) on 17 December 2014 directed the Union Government to
complete fencing work along Indo-Bangladesh border within three months. - The
direction was given to check cross-border influx of illegal Bangladesh
nationals into Assam. It also asked the government to streamline the process to
deport them back. - The court
also asked the Union government why even after 67 years of independence, the
eastern border is left porous while border with Pakistan is properly fenced. It
further said that it would monitor the steps taken by the government and sought
periodic status report after every three months. - The apex
court, taking note of the existing mechanism for deportation and international
protocol, also asked the government to hold discussions with the Bangladesh
government for ensuring that illegal migrants are sent back.
15. Union government notified Approach Paper
for e-auctioning of 92 cancelled coal mines in first phase
for e-auctioning of 92 cancelled coal mines in first phase
- Union
Ministry of Coal on 17 December 2014 notified the draft rules for e-auction of
92 cancelled coal mines in first phase. For this, government fixed a floor
price of 150 rupees per tonne for sectors like captive power, steel, sponge
iron and cement. - The draft
notification was issued in accordance with the Coal Mines (Special Provision)
Ordinance 2014 wherein the Nominated Authority was required to prepare a tender
document. Accordingly, Union government prepared an approach paper for public
consultation and has sought comments from stakeholders by 22 December 2014.
As per the draft notification
- The
e-auction may be conducted on forward/reverse basis, depending on the end-use
industry. - The
forward bidding will be used for production of iron and steel, generation of
power for captive use and cement while reverse bidding will be used for
generation of power. - Applications
will be sought from intending companies in these sectors for pre-qualifications
and only the top 50 per cent of the pre-qualified bidders will be allowed to
submit their bids. - The
indicative price offer shall be bid price per tonne of the coal produced. Such
bid price shall be above the floor price in case of forward bidding or below
the ceiling price in case of reverse bidding. - The
Intrinsic Value of the coal block will be calculated by computing its Net
Present Value, based on the Discounted Cash Flow method. 10 per cent of the
Intrinsic Value will be payable upfront. - On fixing
the ceiling price for coal mines to be auctioned for power projects having
cost—plus power purchase agreements, a ceiling price of the prevailing CIL
notified price for each coal mine will be fixed and the bidder will be mandated
to quote lower than this ceiling price. - A fixed
reserve price of 100 rupees per tonne of coal shall be payable, as per actual
production by the mine allottee. - For power
plants having uncontracted capacity, the bidder shall be restricted to cap its
merchant capacity at 20 percent of the installed power capacity linked to the
alloted coal mine. The reserve price in such cases shall not be less than 150
rupees per tonne.
The draft
notification will pave the way for auction and allotment of 214 coal blocks
cancelled by the Supreme Court in September 2014.
notification will pave the way for auction and allotment of 214 coal blocks
cancelled by the Supreme Court in September 2014.
International News
16. Pakistani court
grants bail 26/11 mastermind Zakiur Rehman Lakhvi
grants bail 26/11 mastermind Zakiur Rehman Lakhvi
- India on Thursday reacted very strongly on the bail
granted to Lashkar-e-Taiba commander Zakiur Rehman Lakhvi, one of the
masterminds behind 26/11 Mumbai terror attacks. - Earlier on Thursday, a Pakistani antiterrorism court
Lakhvi, who is charged with involvement in the Mumbai attacks. The decision of
the court to grant Lakhvi bail caused outrage in India which comes just a day
after Pakistani Prime Minister Nawaz Sharif said there is no “good and
bad” Taliban after the Pakistani Taliban carried out the massacre in a
Peshawar school that saw 131 schoolchildren and 9 teachers dead. - The antiterrorism court granted the bail on a bond of
Pakistani Rs 500,000. - Pakistan’s Federal Investigation Agency (FIA) prosecutor
disagreed with the bail request. However, advocate Rizwan Abbasi, representing
Lakhvi, appeared before the court as the bail pleas was granted, Dawn online
reported. - LeT operations commander Lakhvi, Abdul Wajid, Mazhar
Iqbal, Sadiq, Shahid Jameel Riaz, Jamil Ahmed and Younas Anjum were arrested in
2009 for their alleged role in the attacks in which 166 people were killed and
over 300 injured. - Lakhvi and six others had filed bail applications on Wednesday
even as lawyers were observing strike to condemn the terrorist attack on the
army-run school in Peshawar that left 148 people, mostly children, dead. - The Indian government said that it is working with its
mission in Pakistan to prepare a strong response against granting of bail to
LeT commander Zakiur Rehman Lakhvi.
17. Minorities Rights
Day observed across the world on 18 December
Day observed across the world on 18 December
- Minorities Rights Day on 18 December 2014 was observed
across the world to create awareness on rights of minorities. On this day,
governments and NGO’s conduct debates on the recent developments in policies
and practices in Minority Rights both in India and at the global level. - In India, National Commission for Minorities (NCM) is the
statutory body that observes Minorities Rights Day on18 December every year.
About Minorities Right Day
- On 18 December 1992, United Nations (UN) promulgated the
Declaration on the Rights of Persons belonging to National or Ethnic, Religious
and Linguistic Minorities, to strengthen the cause of the minorities. - UN proclaimed that States shall protect the existence of
the National or Ethnic, Cultural, Religious and Linguistic identity of
minorities within their respective territories and encourage conditions for the
promotion of that identity.
18. Marathi film Kapus
Kondyachi Goshta nominated for Oscar Award in Best Picture Category
Kondyachi Goshta nominated for Oscar Award in Best Picture Category
- The Marathi film Kapus Kondyachi Goshta (The Unending
Story) in the second week of December 2014 was nominated in the Best Picture
Category of the 87th Academy Awards, popularly known as Oscars. - The film is based on the real-life story of four sisters in
a small village near Nagpur. - The American Academy of Motion Picture, Arts and Sciences
recently disclosed the list of 323 films that have been nominated in the Best
Picture category. - The final nominations shortlist for the Oscar awards will
be announced on 15 January 2015 while the awards will be given on 22 February
2015.
About Kapus Kondyachi
Goshta (The Unending Story)
Goshta (The Unending Story)
- The film directed by Pune-based director Mrunalini
Bhosale is about the daily struggles of four sisters against the backdrop of
farmer suicides in Vidarbha in Maharashtra. The film depicts the story of
triumph over tragedy, where the strong will of simple village girl wins over
all odds to become an inspiration for many. The film also details the social
ostracism and poverty rife among Vidarbha’s cotton growers. - The film is produced by Ravindra alias Nitin Bhosale and
written by Prasad Namjoshiand. Lead actors of the film are Makarand Anaspure,
Samidha Guru and Bharat Ganeshpure.
The movie has been
screened at many film festivals and received a lot of awards and appreciations. These include:
screened at many film festivals and received a lot of awards and appreciations. These include:
Dada Saheb Phalke Film
Festival
Festival
- 2014: Best Film – Women Empowerment – Mrunalini Bhosale
International Indian
Film Festival of Queensland in Brisbane
Film Festival of Queensland in Brisbane
- 2014: Best Feature Film – Kapus Kondyachi Goshta
Sahyadri Cine Awards
2014
2014
- 2014: Best Feature Film – Kapus Kondyachi Goshta
Maharashtra State Film
Awards 2014
Awards 2014
- 2014: Best Actress Award – Samidha Guru
Mrunalini Bhosale is a specialist in the agricultural
documentary and had created and directed about 50 films. All her films focus on
the pitfalls and triumphs of men and women who work the soil.
documentary and had created and directed about 50 films. All her films focus on
the pitfalls and triumphs of men and women who work the soil.
19. ‘The Lunchbox’
honoured by Toronto film critics
honoured by Toronto film critics
- Indian film director Ritesh Batra’s ‘The Lunchbox’ has
been named best first feature at the 18th annual Toronto Film Critics Association
(TFCA) awards in Toronto. - It’s the only Indian movie to win a TFCA award, voted by
the members of the association, which includes Toronto-based journalists and
broadcasters who specialise in film criticism and commentary. - The 2013 love story, featuring Irrfan Khan with Nimrat
Kaur, has had its share of rounds at international movie festivals, including
the Cannes International Film Festival. - The awards, to be hosted by Cameron Bailey, artistic
director of the Toronto International Film Festival, will be presented at a
gala dinner here Jan 6, next year, said their official site
torontofilmcritics.com. - Richard Linklater’s coming-of-age drama “Boyhood” has won
three top prizes at the 2014 awards of the TFCA. - In addition to the film’s best picture award, Linklater
has won best director, and Patricia Arquette has been named best supporting
actress.
20. China developed
invisible pain beam weapon Poly WB-1 to break-up riots
invisible pain beam weapon Poly WB-1 to break-up riots
- China in the third week of December 2014 developed a long-range
and non-lethal Pain Beam weapon named Poly WB-1. The weapon can be used to
break up riots or protests from a distance. - The Poly WB-1 was unveiled at an air show in China and it
uses a millimeter-wave beam that can travel distances of up to One kilometer. - China developed the weapon for naval applications to deal
with confrontation in non-lethal ways. The WB-1 will be mounted in ships,
majorly in those patrolling disputed waters. - Poly WB-1 is similar to the Active Denial System (ADS)
created by Raytheon, which was sent to Afghanistan with the United States
military, but was not used in combat and recalled in 2010. - Once the beam comes in contact with a person, the beam
disperses the crowd through heating up water molecules just below the skin
causing intense pain resulting into recoiling of the person. But if longer
busts are made at certain frequencies, it will cause the flesh to burn and
blister.
21. Reverend Libby
Lane appointed as first female bishop of the Church of England
Lane appointed as first female bishop of the Church of England
- Reverend Libby Lane was on 17 December 2014 appointed as
the first female bishop of the Church of England. She will become the new
Bishop of Stockport, a post that was vacant since May 2014. - Libby will succeed the Reverend Robert Atwell, who is now
the Bishop of Exeter. The nomination of Libby as the new Bishop of Stockport
was approved by the Queen of England. - As Bishop of Stockport, she will serve as a suffragan
(assistant) bishop in the Diocese of Chester. Presently, Lane is the vicar at
St Peter’s Hale and St Elizabeth’s Ashley. - Lane will be consecrated as the eighth bishop of the town
at a ceremony at York Minster on 26 January 2015. Her appointment will end
centuries of male leadership of the Church.
Reverend Libby Lane
- Libby Lane was ordained as a priest in 1994 and has
served a number of parish and chaplaincy roles in the North of England in the
Dioceses of Blackburn, York and Chester. - She has been the vicar at St Peter’s Hale and St
Elizabeth’s Ashley since 2007. Later in 2010, she became the Dean of Women in
Ministry for the diocese since January 2010.
22. USAID head Rajiv
Raj Shah resigned from his position
Raj Shah resigned from his position
- The head of the United States Agency for International
Development (USAID) Rajiv Raj Shah on 17 December 2014 resigned from his
position. - Rajiv will leave the office in February 2015. However,
the reason behind his resignation was not revealed. - Shah joined the office of USAID on 24 December 2009.
Being the head of USAID, Shah led more than 9600 professionals in 80 missions
around the world, and managed an annual budget of over 22 billion US dollars.
Rajiv Raj Shah
- Shah served as Under Secretary of Agriculture for
Research, Education and Economics and Chief Scientist at the US Department of
Agriculture in 2009. - He worked in a range of leadership roles at the Bill
& Melinda Gates Foundation including Director of Agricultural Development,
Director of Financial Services and manager of the Foundation’s 1.5 billion US
dollars commitment to the Vaccine Fund. - He co-founded Health Systems Analytics, a health care
consulting firm and the Project IMPACT for South Asian Americans.
23. US slapped
sanctions on Oil trading firms of Switzerland and Netherland for dealing with
Syria
sanctions on Oil trading firms of Switzerland and Netherland for dealing with
Syria
- The United States (US) on 17 December 2014 slapped
sanctions on oil trading firms of Netherland and Switzerland countries. These
oil firms are Staroil B V of Netherlands and Rixo International Trading Ltd and
Bluemarine SA of Switzerland. - The US Treasury put sanctions on the firms due to their
dealings with the Government of Syria, which has been engaged in bloody civil
war with rebel forces. As a result, these firms were effectively cut from the
US financial system. - The US Treasury also put sanctions on several officials
from the Syria-based firms, as well as on companies from Syria and another from
the United Arab Emirates.
24. Amit Priyavadan
Mehta appointed as Federal judge in the district of Columbia
Mehta appointed as Federal judge in the district of Columbia
- Indian-American Amit Priyavadan Mehta was on 17 December
2014 appointed as a federal judge in the
district of Columbia by the US Senate. He is the first Asian Pacific American
to occupy this position. - He was nominated for the post by President Barack Obama
in July 2014.
Amit Priyavadan Mehta
- Mehta is a graduate of Georgetown University and the
University of Virginia School of Law, Order of the Coif. - He had served as a clerk for judge Susan Graber, US court
of appeals for the Ninth Circuit. - Mehta has represented plaintiffs and defendants in
federal civil matters, including antitrust and a Securities and Exchange
Commission enforcement action.
25. Victory Day
celebrated in Bangladesh on 16 December
celebrated in Bangladesh on 16 December
- Victory Day was celebrated in Bangladesh on 16 December
2014. The day observes liberation of
Bangladesh from the Pakistan forces in 1971 War of Liberation in which about
three million people were killed. - On this day, President Abdul Hamid and Prime Minister
Sheikh Hasina paid their homage to the 1971 Liberation War martyrs at the
National Memorial in Bangladesh. - The day was celebrated with 31-gun salute at National
Parade Ground in Sher-e-Bangla Nagar in Bangladesh. Many leaders of Bangladesh
and diplomats of many countries also paid their homage to the martyrs.
About Victory Day
- Victory Day observed on 16 December annually commemorates
the surrender of Pakistan forces to allied Indian and Bangladeshi forces in the
Bangladesh Liberation War in 1971. In Bangladesh this day is a national holiday
and is known as Bijoy Dibosh in Bangladesh.
26. Priyanka Chopra
Signs deal with American TV network
Signs deal with American TV network
- After releasing three singles off her first music album
in the US and voicing an Indian character in Disney Toon film Planes, Priyanka
Chopra is all set to take her Hollywood stint to the next level. - According to The Hollywood Reporter, the Mary Kom actress
has been signed on for a talent holding deal with American TV network ABC. - As part of the one-year pact under the network’s
diversity casting program, ABC will either incorporate Chopra in an existing
show or launch a new project starring her. - This is a first of its kind deal for Chopra, who became
the first Indian celebrity to have been signed on as the global face of Guess
last year. - Chopra’s Hollywood journey began with the release of her
first single In My City, that was also used as the theme song to the 2013
season of the NFL Network’s Thursday Night Football. - Subsequent singles — Exotic and I Can’t Make You Love Me
— gained popularity upon release too. - According to reports, ABC executive Keli Lee, who
spearheads the network’s diversity casting program, traveled to Mumbai to sign
Chopra. - Other notable stars to have been signed on under the same
program are Kerry Washington for Scandal and Sandra Oh for medical drama Grey’s
Anatomy.
Sports News
27. Rory McIlroy named
2014 Race to Dubai European Tour Golfer of Year
2014 Race to Dubai European Tour Golfer of Year
- Rory McIlroy of Ireland on 16 December 2014 was named as
the 2014 Race to Dubai European Tour Golfer of the Year. He won the award for
the second time in three seasons. Earlier he won the award in 2012. - Having been named Golfer of the Month in May 2014, July
2014 and August 2014, he was unanimously voted the top player for 2014 - He defeated Henrik Stenson, the 2013 European Tour Player
of the Year, and became the first player to top both the PGA Tour and European
Tour money lists in the same year on two different occasions. - Currently, he is the World Number One and a four-time
major champion. His major triumphs in 2014 came at the 143rd British Open
Championship and US PGA Championship, the WGC-Bridgestone Invitational and the
BMW PGA Championship, the European Tour’s flagship event.
28. Paul McGinley of
Ireland won Sports Personality Coach of the Year 2014
Ireland won Sports Personality Coach of the Year 2014
- Paul McGinley won Sports Personality Coach of the Year
2014 at the BBC Sports Personality of the Year awards in Glasgow. He was
awarded for guiding the European team to win the Ryder Cup of Golf at
Gleneagles in UK in September 2014. - Under his guidance Europe defeated the United States by
16.5 points to 11.5 points. - In December 2014, McGinley was appointed as captain of
the Irish golf team for the Rio Olympics scheduled to be held in 2016. - The Sports Personality of the Year Awards is presented by
the BBC Sports annually in December.
Other Sport
Personality awards
Personality awards
- Sports Personality of the Year: Lewis Hamilton of Britain
(F1 Driver) - Young Sports Personality of the Year: Italy-born Claudia
Fragapane of Britain (Artistic gymnast) - Lifetime Achievement:
Sir Christopher Andrew “Chris” Hoy of Britain (Racing driver
and former track cyclist) - Overseas Sports Personality of the Year: Cristiano
Ronaldo of Portugal (Footballer) - Get Inspired Unsung Hero: Jill Stidever of Leicestershire
(Swimming coach) - Helen Rollason award: Invictus Games competitors of
London - Team of the Year: England women’s rugby union team
29. Hariom Singh won
Gold in Men’s 50-metre Rifle Prone event at 58th National Shooting champions
Gold in Men’s 50-metre Rifle Prone event at 58th National Shooting champions
- Hariom Singh on 17 December 2014 won Gold medal in the
Men’s 50-metre Rifle Prone event at the 58th National Shooting Championships
held in Pune. Representing Indian Army Hariom won the Gold with a total of 205
in the finals. - Aditya U Singh of Air Force won Silver with 204.8 poits
and Beijing Olympic Gold medalist Abhinav Bindra won Bronze with 183.8 points.
Olympic Bronze medalist Gagan Narang finished at fourth place in the eight-man
final.
Men’s 50m Rifle Prone
Team Event
Team Event
- Gold: Army Marksmanship Unit 1855.3 (Chain Singh 625.7,
Surendra Singh Rathore 616.4, Sushil Ghaley 613.2) - Silver: Air Force 1845.2 (Aditya U Singh 617.8, Ravi
Kumar 614.6, Deepak Kumar 612.8) - Bronze: Uttar
Pradesh 1842.4 (Ishan Goel 622.4, Anubhav Pratap Singh 615.9, Ajit Kumar Singh
604.1).
30. Former Olympic
wrestling champion suspended for one year
wrestling champion suspended for one year
- Former Olympic wrestling champion Steeve Guenot was
suspended for one year on Thursday by the French anti-doping agency for missing
doping tests. - The French wrestling federation said Guenot, who won gold
in the 66-kilogram category at the 2008 Beijing Olympics and bronze in London
four year later, failed to give details about his whereabouts and was twice
absent from his house for out-of-competition tests between February and July
this year. - The French federation said he never tested positive
despite being regularly targeted since he won Olympic gold six years ago. - Guenot, who has been suspended until July 30, 2015, will
not appeal the decision, meaning that he won’t be able to compete at the European
Games in Baku next June. - The 29-year-old Guenot is currently sidelined following
surgery on his right hip and hopes to return at the world championships in Las
Vegas in September and then to qualify for the 2016 Olympics in Rio de Janeiro.
This post was last modified on November 27, 2017 9:03 am