Current Affairs Update – 23 Dec, 2014

Finance/Business/Economy News
1. RBI licensed Ford
Credit India to operate as a NBFC

  • Reserve Bank of India (RBI) on 22 December 2014 licensed
    Ford Credit India to operate as a non-banking financial company (NBFC). Ford
    Credit India is a subsidiary of Ford Motor Credit Company.
  • The company will start automotive financing in India by
    first quarter of 2015.
  • Ford Credit provides a range of automotive financial
    products and services to about 5200 Ford and Lincoln dealers and more than 3.8
    million customers around the world.
  • The company plans to begin dealer wholesale inventory
    financing in the first quarter of 2015. Consumer retail financing will follow
    later in the year 2015.
  • Ford had identified India as a key market in its Asia
    Pacific strategy. It is on course to invest 2 billion US dollar, nearly half of
    which is being spent on a new manufacturing facility in Sanand, Gujarat.
  • The manufacturing facility in Sanand will nearly double
    the company’s installed production capacity in the country to 6.1 lakh engines
    and 4.4 lakh vehicles a year.
  • Mark Constable is the Managing Director (MD) of Ford
    Credit India.



2. PSU banks write off
over Rs. 1.06 lakh crore in last 5 years

  • Public sector banks have written off loans worth Rs.
    1,06,170 crore in the last five years, Parliament was informed on Tuesday.
  • “The RBI data reporting system does not collate data on
    the number of account holder having more than Rs. 1 crore, whose loans were
    written off,” Minister of State for Finance Jayant Sinha said in written reply
    to the Rajya Sabha.
  • The amount of bad loans written off or restructured by
    the PSU banks has more than doubled in the last three years ending March 2014
    to Rs. 42,447 crore.
  • The rise in bad loans is being attributed to slowdown in
    the economy which slipped to below five per cent in the two consecutive financial
    years — 2012-13 and 2013-14.
  • The loans written off/compromised by PSU banks soared
    from Rs. 20,752 crore in 2011-12 to Rs. 32,992 crore in 2012-13 and further to
    Rs. 42,447 crore in 2013-14, as per RBI data.
  • In a separate reply, Mr. Sinha said, “a total of 1,600
    wilful defaulters (non-suit filed accounts) of Rs. 25 lakh and above as on
    March 31, 2014, have been declared by the banks.”

3. Financial strains
force govt to cut health budget by Rs 6,000 cr in FY15

  • The government has ordered a cut of nearly 20 percent in
    its 2014/15 healthcare budget due to fiscal strains, putting at risk key
    disease control initiatives in a country whose public spending on health is
    already among the lowest in the world.
  • Two health ministry officials told Reuters on Tuesday
    that more than Rs 6,000 crore, or $948 million, has been slashed from their
    budget allocation of around Rs 30,000 crore for the financial year ending on
    March 31.
  • Despite rapid economic growth over the past two decades,
    successive governments have kept a tight rein on healthcare expenditure. India
    spends about 1 percent of its gross domestic product (GDP) on public health,
    compared to 3 percent in China and 8.3 percent in the United States.
  • But hopes were high that Prime Minister Narendra Modi,
    who was elected in May, would upgrade basic health infrastructure and make
    medical services more affordable for the poor.
  • The United Nations estimates about one third of the
    world’s 1.2 billion poorest people live in India.
  • In addition to the healthcare budget, the finance
    ministry has also ordered a spending cut for India’s HIV/AIDS programme by
    about 30 percent to Rs 1,300 crore rupees ($205.4 million).
  • India had the third-largest number of people living with
    HIV in the world at the end of 2013, according to the U.N. AIDS programme, and
    it accounts for more than half of all AIDS-related deaths in the Asia-Pacific.

4. RBI issued
Guidelines to define Non-cooperative Borrower

  • Reserve Bank of India on 22 December 2014 issued
    guidelines to define non-cooperative borrowers. RBI also fixed the cut off
    limit for classifying borrowers as non-cooperative borrowers.
  • As per the guidelines, a non-cooperative borrower is one who
    does not engage constructively with his lender by defaulting in timely
    repayment of dues while having ability to pay;
  • who thwarts lenders’ efforts for recovery of their dues
    by not providing necessary information sought, denying access to assets
    financed/collateral securities, obstructing sale of securities, etc; and who
    have aggregate fund-based and non-fund based facilities of 5 crore rupees from
    the concerned bank/financial institution (FI)


Main Highlights

  • A non-cooperative borrower in case of a company will
    include its promoters and directors (excluding independent directors and
    directors nominated by the Government and the lending institutions).
  • In case of business enterprises (other than companies),
    non-cooperative borrowers would include persons, who are in-charge and
    responsible for the management of the affairs of the business enterprise.
  • Banks/FIs to report information on non-cooperative
    borrowers to the Central Repository of Information on Large Credits (CRILC)
  • The banks/FIs to put in place a transparent mechanism for
    classifying borrowers as non-cooperative.
  • The decision to classify the borrower as non-cooperative
    borrower should be entrusted to a committee headed by an Executive Director and
    consisting of two other senior officers of the rank of general managers/deputy
    general managers as decided by the board of the concerned bank/FI.
  • An opportunity should be given to the borrower for a
    personal hearing if the committee feels such an opportunity is necessary.
  • The order of the committee should be reviewed by another
    committee headed by the Chairman/CEO and MD and consisting of two independent
    directors of the bank/FI and the order shall become final only after it is
    confirmed by the Review Committee.
  • Boards of banks/FIs to review on a half-yearly basis the
    status of non-cooperative borrowers.

5. Shyam Srinivasan
appointed as Chairman of IBA committee on Member Private Sector Banks

  • Federal Bank CEO Shyam Srinivasan was on 19 December 2014
    appointed as the Chairman of the reconstituted Indian Banks’ Association
    committee on Member Private Sector Banks for 2014-15.
  • The committee consists of executives from 13 private
    banks. The committee is tasked to look after the specific needs of all the 23
    private sector banks that are members of the IBA. The term of the committee is
    one year.

Shyam Srinivasan

  • Shyam Srinivasan is an alumnus of the Indian Institute of
    Management, Kolkata and Regional Engineering College, Tiruchirapally.
  • He has served on the Global Executive Forum (the top 100
    executives) of Standard Chartered Bank from 2004 to 2010.
  • In September 2010, Shyam Srinivasan took charge as the
    Managing Director & Chief Executive Officer of the Federal Bank Ltd, a
    major private commercial bank in India.
  • He is a member of the committee on Financial Sector
    Legislative Reforms set up by the Reserve Bank of India.

6. WTCIS signed
agreement with NIESBUD to promote small businesses
  • The World Trade Center India Services Council (WTCIS) and
    National Institute for Entrepreneurship and Small Business Development
    (NIESBUD) on 22 December 2014 signed an agreement to promote and develop small
    businesses in the country.
  • The agreement will allow WTCIS to expand its services to the
    MSME sector in India, which will play a vital role in socio-economic
    development.
  • Under the agreement, WTCIS would assist NIESBUD to
    promote and develop an entrepreneurial environment through training, research
    and consultancy, and it will also assist organisations in developing and
    promoting entrepreneurship and self-employment.
  • NIESBUD is an organisation under the Ministry of Micro,
    Small and Medium Enterprises, and is engaged in training, consultancy as well
    as research, to promote entrepreneurship.

NIESBUD Director
General
– Arun Kumar Jha
WTCIS Director – Khair
Ull Nissa
7. Yes Bank gets $200
millionn from ADB for onlending to SHGs, farmers
  • Private sector lender Yes Bank on Tuesday said it has
    raised $200 million in an unsecured loan from Asian Development Bank for
    onlending to small farm households and rural womens’ self help groups (SHG).
  • The money will be used for onlending in rupee equivalent
    amounts to finance working capital and investment requirements of the twin
    target groups, it said.
  • Yes Bank’s chief executive and managing director Rana
    Kapoor said the deal should be seen as one which reiterates its focus on
    responsible banking and furthering the financial inclusion agenda.
  • Financial details like the landing cost of the money,
    including interest and hedging cost, of the money were not made available
    immediately.
  • Apart from the unsecured loan, Yes Bank said ADB will
    also provide a Capacity Development Technical Assistance grant up to $1
    million, which will be used for capacity building and improving the financial
    literacy of women borrowers.

News Related to India and Indian Polity
8. BJP first in 14
years to form single-party govt in Jharkhand

  • The Bharatiya Janata Party (BJP) added two more feathers
    in its cap by getting the numbers to form a government on its own in Jharkhand,
    the first time in the 14-year history of the state any one party has managed to
    do so; and becoming the second largest party in Jammu and Kashmir with 25
    seats.
  • The BJP fell badly short of 44, the seats needed in the
    87-member Kashmir Assembly to form a government and was unable to win a single
    seat in the valley (all but one of its candidates lost their deposits in
    Srinagar). But it achieved the distinction of being the only national party to
    have won upwards of 20 seats in the Assembly.
  • The party’s parliamentary board will meet tomorrow to
    take a view on its alliance partner in Jammu and Kashmir and finalise the name
    of its chief ministerial candidate in Jharkhand.

9. Rajya Sabha
referred two bills to Select Committees

  • Rajya Sabha today referred two bills, including one that
    aims at bringing country’s banking payment system in sync with international
    practices, to the Select Committees.
  • The Payment and Settlement Systems (Amendment) Bill, 2014
    and The Repealing and Amending Bill, 2014 were passed by Lok Sabha in the
    Winter session of Parliament.
  • The Select Committee for Payment and Settlement Systems
    (Amendment) Bill, 2014 consists of 13 members.
  • The bill also aims at increasing transparency and stability
    of the financial market.
  • The other bill sent to the Select Committee is the
    Repealing and Amending Bill, 2014, which seeks to repeal 90 Amendment Acts
    which have become redundant.

10. Former Union
Minister G. Venkataswamy passed away

  • Former Union Minister G. Venkataswamy died on 22 December
    2014 in Hyderabad, Telangana. He was 85.
  • He represented the Peddapalli constituency of Andhra
    Pradesh (present Telangana) and was a member of the Indian National Congress
    (INC) political party.
  • He was a member of the 14th Lok Sabha of India.

About Gaddam
Venkataswamy

  • He was elected to the Assembly of the undivided Andhra
    Pradesh in 1950 and held several key positions in the government as well in the
    party
  • During his political-career of more than five decades, he
    was elected to the State Assembly twice (1957- 62 and 1978-84) and seven times
    for Parliament (fourth, fifth, sixth, ninth, tenth, eleventh and fourteenth Lok
    Sabha)
  • He served in the congress government led by former Prime
    Ministers Indira Gandhi and PV Narasimha Rao
  • He held Pradesh Congress Chairman for Andhra Pradesh
  • Popularly known as Kaka was born on 5 October 1929 in
    erstwhile Hyderabad state (now in Telangana)

11. NSSO released
Situation Assessment Survey of Agricultural Households

  • National Sample Survey Office (NSSO) on 19 December 2014
    released Situation Assessment Survey of Agricultural Households for the Crop
    Year 2012-13. The survey was conducted between January 2013 and December 2013.
  • The survey focused on a common perception regarding
    agriculture — how it generates just 15 per cent of India’s GDP (2012-13 data)
    despite rural areas houses 68.8 per cent of the total population (2011 Census).
  • The survey aimed at capturing the condition of
    agricultural households in the rural areas of the country in the context of
    policies and programmes of Government of India.
  • A total number of 35200 households were surveyed in the
    first visit and 34907 of them were re-surveyed in second visit.

Highlights of the
survey
  • The survey found that hardly 58 per cent of rural
    households in India are engaged in farming activity, which, in turn,
    contributes not even 60 per cent to their average total monthly incomes.
  • Only 9.02 crore (57.8 percent) out of the country’s
    estimated 15.61 crore rural households were agricultural. Agricultural was
    defined as those having at least one member self-employed in farming, either in
    principal or subsidiary status, during the last 365 days.
  • Uttar Pradesh accounted for about 20 percent of all
    agricultural households in the country.
  • Rajasthan had highest percentage of agricultural
    households (78.4 percent) among its rural households
  • Kerala had the least percentage share of agricultural
    households (27.3 percent) in its rural households.
  • 13 per cent of the marginal farmers do not have ration
    cards.
  • Out of total agri-households, 23 per cent of agricultural
    households depend on livestock as prime source of income.
  • The households which possess 0.4 ha of land claimed that
    agriculture is the principal source of income for them.
  • Forty-four per cent of total agricultural-households
    possess MGNREGA job cards.

12. IWAI signed MoU
with Odisha government to develop stretches of National Waterway 5
  • The Inland Waterways Authority of India (IWAI) on 22
    December 2014 signed the Memorandum of Understanding (MoU) with Odisha
    government and 2 ports to develop commercially viable stretches of National
    Waterway 5.
  • These two ports are Paradip Port and Dhamra Port Company
    Limited that serve the Eastern and Central parts of the country.
  • In the National Waterway-5, East Coast Canal has been
    integrated with Brahmini river and Mahanadi delta rivers (588 km).

National Waterways
(NW)
  • The Inland Waterways Authority of India Act, 1985
    established the Inland Waterways Authority of India (IWAI) for the regulation
    and development of Inland Waterways as National Waterways (NWs). The
    development of National Waterways (NW) comes under the purview of central
    government.

So far, the following
waterways have been declared as NWs:-
  • Ganga-Bhagirathi-Hooghly river system
    (Allahabad-Haldia-1620 km) in National Waterway-1.
  • River Brahmaputra (Dhubri-Sadiya-891 km) in National
    Waterway-2.
  • West Coast Canal (Kottapuram-Kollam) along with
    Udyogmandal and Champakara Canals-(205 km) in National Waterway-3.
  • Kakinada-Puducherry canals along with Godavari and
    Krishna rivers (1078 km) in National Waterway-4.
  • East Coast Canal integrated with Brahmani river and
    Mahanadi delta rivers (588 km) in National Waterway-5.

13. HRIDAY scheme for
conservation of heritage characters of cities
  • The National Heritage City Development and Augmentation
    Yojana (HRIDAY) was in news recently as Union Urban Development Minister M
    Venkaiah Naidu announced the plans to launch the scheme.
  • HRIDAY is a scheme for conserving and preserving the
    heritage characters of 12 cities. These are: Amritsar, Varanasi, Gaya, Puri,
    Ajmer, Mathura, Dwarka, Badami, Velankanni, Kanchipuram, Warangal (Telangana) and
    Amaravati (Andhra Pradesh).
  • The scheme aims at developing tourism and job creation
    because India’s rich cultural, historical, religious and natural heritages have
    a huge potential of tourism.
  • Earlier, in his maiden budget speech in July 2014, Union
    Finance Minister Arun Jaitley had made the announcement of launching HRIDAY
    scheme.
  • As per the announcement, the scheme will involve a
    partnership between the government, academic institutions and local
    communities, combining affordable technologies.

14. Book titled Why I
Assassinated Gandhi written by Nathuram Godse and Gopal Godse

  • The book titled Why I Assassinated Gandhi written by
    Nathuram Godse and Gopal Godse was in news in third week of December 2014.
  • The first revised edition of book was published by
    Delhi-based Farsight Publishers and Distributors. The revised edition has been
    compiled and edited by Virender Mehra. The book was first published in 1993 by
    Surya Bharti Prakashan.
  • The 14-chapter, 208-page book includes a profile of
    Godse, and critical commentary on Gandhi’s politics. It also includes Nathuram
    Godse’s statement before the court at the Red Fort trial in its unabridged
    form.
  • Besides, it contains the narrative of Justice G D Khosla
    who was the part of full bench of the then East Punjab High Court that heard
    the Nathuram Godse case on 23 May 1949.
  • Bombay High Court in 1968 had lifted the ban on Nathuram
    Godse’s statement to the special court.

15. Suresh Prabhu
Advisory Group on Integrated Development of Power submitted report to Union
Government

  • The Advisory Group for Integrated Development of Power,
    Coal and Renewable Energy headed by Suresh Prabhu submitted its report to the
    Union Ministry of Power and Coal on 22 December 2014.
  • The Group has suggested measures for enhancement of coal
    production in the short, medium and long term.


Highlights of the
report

  • There is a need for improvements in Coal India Limited
    (CIL) and its subsidiaries including Central Mine Planning and Design Institute
    Limited (CMPDI)
  • It has recommended opening up of the coal sector and
    upgradation of Coal India Limited (CIL) and its subsidiaries. This will
    increase domestic production of the dry fuel.
  • It also mentioned the issues of coal block auction
    Process, coal linkage rationalisation and swapping of coal linkages and
    stressed on the need for urgent action on coal linkages to power plants already
    commissioned and likely to be commissioned by March 2015.

About Suresh Prabhu
Advisory Group
  • The Advisory Group was set up by the Union Government to
    on 25 June 2014. The Group was chaired by Suresh Prabhu, Union Railway
    Minister.

16. India’s first
Fashion doll Kiyaa launched

  • Kiyaa, claimed to be India’s first branded fashion doll,
    was launched today in a marketplace dominated by heavyweights such as Barbie,
    Bratz and Daisy.
  • The doll, created by a city-based start-up Shel Studio
    Design, mirrors the image of a common teenager, dressing up in the country’s
    ethnic fashion mould, including embroidery and handlooms, yet having a
    contemporary touch.
  • Priced at Rs. 699, as compared to the minimum price tag
    of Rs. 999 for a Barbie, the product was launched in the on-line market, including
    on Snapdeal and Amazon. “We will be slowly putting the doll at retail stores
    across the country. We are targeting sales of 10,000 pieces in the next one
    year,” Sailaja Theerdhala, founder of the start-up, said.
  • Sailaja, who runs a local boutique, spent nearly three
    years in creating Kiyaa (meaning cooing of the bird in Sanskrit).

17. Gujarat to host
13th Pravasi Bharatiya Divas in January 2015

  • Ministry of External Affairs (MEA) on 22 December 2014
    announced that Gujarat will host 13th Pravasi Bharatiya Divas (PBD) from 7
    January 2015 to 9 January 2015.
  • The 13th edition of PBD will mark the 100th year of
    Mahatma Gandhi’s return to India from South Africa.  PBD is an event which celebrates the
    achievements of Indians living abroad.
  • The chief guest of the 13th PBD would be Guyana President
    Donald Ramotar.
  • On 7 January 2015, the youth segment of PBD will be
    inaugurated with the theme Bharat ko jano and Bharat ko mano. The aim of the
    youth segment is to familiarising children of migrant Indians with the traditions
    and history of the country as well as its modern day achievements in different
    fields.
  • The main highlights of the 13th PBD will include a
    plenary session in which presentations will be made on the flagship programmes
    of the government such as Namami Ganga, Swachh Bharat, Skill Development and
    Urban Development and NRIs and People of Indian origin (PIO).
  • Besides, there would be separate sessions for Girmitya,
    Indian migrants taken to work in plantations, Gulf countries, French speaking
    countries and Diaspora organisations in various countries and the Ambassadors
    of these countries would be present to understand their problems.
  • PBD is the world’s largest annual gathering of people of
    Indian origin. PBD is aimed at enhancing networking and reinforcing commercial
    linkages. There are 25 million people of Indian origin residing outside India.

18. Kisan Diwas
observed across India on 23 December

  • Kisan Diwas was observed across the country on 23
    December 2013 to celebrate the birthday of Chaudhary Charan Singh.
  • Government in 2001 had decided to observe 23 December
    every year as Kisan Diwas (Farmers Day).
  • Celebrating Kisan Diwas, e-retailing firm Snapdeal.com
    today announced the launch of “The Agri Store”, offering products like seeds,
    fertiliser and irrigation tools, among others, to farmers.
  • A Hindi version of the store will also be launched soon
    to aid farmers in making an informed decision, the company said in a statement.

About Chaudhary Charan
Singh

  • Chaudhary Charan Singh (23 Dec 1902 – 29 May 1987) was
    the fifth Prime Minister of India. He served as the Prime Minister from 28 July
    1979 to 14 January 1980.
  • Chaudhary Charan Singh holds the record of being the only
    Prime Minister of India who did not face the Parliamentary floor for a single
    day after assuming the office.

19. Naval LCA makes
first flight from ski-jump

  • In a defining moment for Indian Naval Aviation, the first
    prototype (NP1) of Naval Light Combat Aircraft (LCA), the first indigenously
    designed and developed 4th plus generation combat aircraft designed to operate
    from the decks of air-craft carriers, had a successful first flight from ski-jump
    facility of shore-based test facility at INS Hansa in Goa on Saturday.
  • Piloted by Commodore Jaideep Maolankar, the Chief Test
    Pilot of National Flight Test Centre, the aircraft had a perfect flight with
    results matching the predicted ones to the letter.
  • LCA (Navy) is designed with stronger landing gears to
    absorb forces exerted by the ski jump ramp during take-off, to be airborne
    within 200 m as against 1000 m required for normal runways.

International News
20. Ukraine, Russia,
France and Germany agreed to hold new round of peace talks on Ukraine
  • Leaders of Ukraine, Russia, France and Germany on 22
    December 2014 reached an agreement to hold new round of peace talks on Ukraine.
    The peace talks are the latest attempt to negotiate a settlement to the
    conflict that has badly strained the ties between Russia and West.
  • The talks would involve negotiators from Ukraine, Russia,
    pro-Russian rebels and the Organization for Security and Cooperation in Europe.
  • The negotiations talks will be held in Belarusian
    capital, Minsk on 24 December and 26 December 2014.
  • The agreement to hold a new peace talks was reached
    during a conference call between Ukrainian President Petro Poroshenko, Russian
    President Vladimir Putin, French President Francois Hollande and German
    Chancellor Angela Merkel
  • Previous peace talks of September 2014 led to a tenuous
    peace agreement, although fighting continued in eastern Ukraine. In this fight
    at least 1300 civilians have died. However, United Nations report suggests that
    since outbreak of the conflict in eastern Ukraine between government forces and
    pro-Russia separatists in April 2014 more than 4700 people have been killed.

21. US President
signed NDA Act 2015

  • The US President Barack Obama on 19 December 2014 signed
    the annual defence budget National Defence Authorisation Act (NDAA) for the
    fiscal year 2015.
  • The 2015 NDAA sets overall defence spending at 578
    billion US dollars and also provide for release of Coalition Support Fund (CSF)
    of 1 billion US dollars to Pakistan.
  • The annual defence budget for the fiscal year 2015 was
    sponsored by US Senator Carl Levin and Howard P. ‘Buck’ McKeon.

Main Aim of NDDA 2015
  • The NDDA 2015 intends to provide vital benefits for US
    military personnel and their families, as well as critical contingency
    authorities needed to counter the Islamic State of Iraq and the Levant and to
    respond to emerging needs in the face of evolving terrorist threats and
    emergent crises worldwide.

22. Pakistan, Russia
sign $1.7 billion energy deal
  • For the first time, Pakistan and Russia have signed an
    energy deal worth $1.7 billion to lay a gas pipeline from Karachi to Lahore, a
    move that may lead to further improvement in their ties.
  • The supply of a Liquefied Natural Gas (LNG) is expected
    to start before March next year, The Express Tribune reported.
  • The report cited unidentified officials saying the
    pipeline would be used to transport imported LNG from Karachi to Punjab
    province.
  • The energy agreement was signed during the day-long visit
    of Sergei Shoigu last month, the first visit by a Russian Defence Minister to
    Pakistan in 45 years. The last visit to Pakistan was made by Soviet Union’s Defence
    Minister Andrey Grechko.

23. European space
mission Rosetta named as Breakthrough of the Year 2014 by Science journal

  • The European space mission Rosetta was on 19 December
    2014 named as the most important scientific Breakthrough of the Year 2014 by
    Science journal.
  • Rosetta landed its three-legged Philae module on the
    comet 67P/Churyumov-Gerasimenko on 12 November 2014, 10 years after the
    spacecraft was launched.
  • At the end of a seven-hour journey after being separated
    from Rosetta, Philae bounced twice off the speeding comet’s surface before
    making a soft landing, but it appeared to have rested on its side and in the
    shadows of a cliff.
  • Rosetta’s collection of spectrometers, known as the
    Rosetta Orbiter spectrometer for Ion and Neutral Analysis (ROSINA), has
    detected water, methane, and hydrogen as well as some rarer molecules,
    including formaldehyde and hydrogen cyanide in the comet 67P’s halo.

About the Rosetta
Mission
  • The mission began in March 2004. It was launched from
    Kourou in French Guiana aboard an Ariane 5 rocket. The spacecraft is an
    aluminium box weighing about 3000 kg and carries Philae, which is about 100 kg.
  • Rosetta reached the Comet named 67P/Churyumov-Gerasimenko
    in August 2014. It has been orbiting it and scrutinizing it from as close as 10
    kilometers away. The mission will end in December 2015.

24. 2014 Presidential
Elections of Tunisia results declared; Beji Caid Essebsi won the elections

  • The results of 2014 Presidential elections of Tunisia
    were declared on 22 December 2014. Beji Caid Essebsi of Nidaa Tounes party won
    the elections with 55.68 percent of the run-off vote.
  • On the other hand, his rival and incumbent Moncef
    Marzouki’s won 44.32 percent of the votes.
  • In the first round of voting no candidate won a majority
    leading to a second round of voting on 21 December 2014 to decide between
    incumbent Moncef Marzouki and Essebsi.
  • Essebsi’s victory will enable him to consolidate power,
    with his party already controlling Parliament after defeating the main Islamist
    party in legislative elections in October 2014.
  • 88-year old Essebsi is a veteran of Tunisia’s political
    establishment. He was the Prime Minister of Tunisia from 27 February 2011 to 24
    December 2011. Before that he was both Foreign and Interior Minister for his
    predecessor, Habib Bourguiba. He is the founder of the Nidaa Tounes party.

Sports News
25. Yuvraj Singh,
Gautam Gambhir dropped from BCCI’s central contracts

  • A few weeks after they were left out of the 30-member
    preliminary squad for the 2015 World Cup, Gautam Gambhir and Yuvraj Singh were,
    on Monday dropped, from the Board of Control for Cricket in India (BCCI)
    contracts list while medium pacer Bhuvneshwar Kumar was promoted to a Grade A
    contract.
  • Pacer Mohammed Shami, Ambati Rayudu and Ajinkya Rahane
    have been promoted from Grade C to Grade B, while Gambhir, Yuvraj, Dinesh
    Karthik and Jaydev Unadkat have been struck off the contracts list.
  • Both Yuvraj and Gambhir were part of Grade A contracts
    last season.

BCCI contracts list
for 2014-15:
  • Grade A: Mahendra
    Singh Dhoni, Virat Kohli, Suresh Raina, Ravichandran Ashwin, Bhuvneshwar Kumar.
  • Grade B: Pragyan
    Ojha, Murali Vijay, Cheteshwar Pujara, Ravindra Jadeja, Ishant Sharma, Shikhar
    Dhawan, Umesh Yadav, Rohit Sharma, Ajinkya Rahane, Ambati Rayudu, Mohammed
    Shami.
  • Grade C: Amit
    Mishra, Varun Aaron, Wriddhiman Saha, Stuart Binny, Pankaj Singh, R. Vinay
    Kumar, Mohit Sharma, Dhawal Kulkarni, Parveez Rasool, Axar Patel, Manoj Tiwary,
    Robin Uthappa, Karn Sharma, Sanju Samson, Kuldeep Yadav, KL Rahul.

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