Current Affairs Update – 25-26-27-28-29 Nov, 2014

• ·        
  Housing finance company DHFL on 20 November 2014 announced to name Shah
  Rukh Khan as its brand ambassador. DHFL is the second largest housing finance
  company of India.
• ·        
  Shah Rukh is the first brand ambassador of DHFL in its 30 year journey.
• ·        
  DHFL was founded by Rajesh Kumar Wadhawan in 1984 with a vision to
  provide financial access to own a home.
• ·        
  The company has been marketing its solutions to customers across 550
  locations in India through national and regional level advertisement and event
  campaigns. It also has representative offices in Dubai and London.
• ·        
  Chairman and Managing Director: 
  Kapil Wadhawan

• ·        
  Kotak Mahindra Bank on 25 November 2014 became first bank in India to
  fully own an insurance business after Reserve Bank of India (RBI) gave
  permission to set up a wholly-owned non-life insurance company called Kotak
  General Insurance.
• ·        
  Kotak General Insurance will be the 29th non-life company in the country
  and the CEO of the new entity will be Mahesh Balasubramanian, executive
  vice-president and co-head (branch banking) of Kotak Mahindra Bank.
• ·        
  The bank is already the promoter of a life insurance company in
  partnership with Old Mutual of South Africa. At present, Kotak Mahindra Bank is
  a corporate agent for Tata AIG General Insurance. Kotak Bank generates close to
  100 crore rupees of premium selling non-life products. This business is likely
  to go to its non-life subsidiary in future.
• ·        
  The last non-life insurer to get permission from the regulator was Cigna
  TTK, a health insurance company. The last company to set up a full-fledged
  general insurance business was Liberty Videocon General Insurance.
• ·        
  RBI guidelines allow a bank to hold a maximum 50 percent in an insurance
  joint venture. However, RBI had allowed some exceptions to this rule, which
  include State Bank of India and ICICI Bank. In both these partnerships, the
  banks hold 74% while the balance 26% is held by a foreign partner.
• ·        
  Insurance Regulatory and Development Authority (IRDA) norms require a
  non-life company to commence operations with a start-up capital of 100 crore
  rupees.

• ·        
  The Securities and Exchange Board of India (SEBI) on 25 November 2014
  directed Foreign Portfolio Investor (FPI) to ensure compliance with all
  necessary norms of Foreign Portfolio Investment (FPI) Regulations before
  issuing Offshore Derivative Instruments (ODIs) especially participatory notes
  (P-notes) with immediate effect. With respect to this SEBI issued the
  guidelines outlining the details.
• ·        
  The guidelines were issued after SEBI found that there could be probable
  misuse of Offshore Derivative Instruments especially P-Notes for money laundering
  and other such purposes.
• ·        
  Offshore Derivative Instruments (ODIs) can be issued by only to an FPI
  who is the resident of a country whose securities market regulator is a
  signatory to International Organization of Securities Commission’s (IOSCO)
• ·        
  Foreign entities only those countries who have signed multilateral
  Memorandum of Understanding (MoUs) or a signatory to bilateral (MoUs) with SEBI
  are eligible for issuance ODIs.
• ·        
  If any bank is an applicant, it must be the resident of a country whose
  central bank is a member of Bank for International Settlements.
• ·        
  Foreign portfolio investors who are two or more ODI subscribers having
  common Beneficial Owner (BO) shall be considered together as a single ODI
  subscriber, in the same manner as is being done in the case of FPIs.
• ·        
  Participatory notes (P-notes) are mostly used by overseas HNIs, hedge
  funds and other foreign institutions to invest in Indian markets through
  registered foreign institutional investors without directly registering
  directly with SEBI. It helps investors avoid the time, cost and other
  procedural issues associated with direct registration.
• ·        
  The value of outstanding investments through participatory notes
  (P-notes) into India’s capital market of India stood at 2.66 trillion rupees
  till end of October 2014, which is the highest level in almost seven years.

• ·        
  Japan based Nippon Life Insurance on 26 November 2014 announced to hike
  its stake in Anil Ambani-led Reliance Capital Asset Management (RCAM) from 26
  percent to 49 percent. As part of it, Nippon will invest 675 crore rupees for
  the first tranche of 9 percent stake in RCAM.
• ·        
  As a result of the first tranche of investment, the total value of RCAM
  will reach 7300 crore rupees which is the highest valuation till date for any
  asset management company in India. The transaction is expected to be completed
  within the financial year 2014-15, subject to regulatory approvals.
• ·        
  Nippon’s existing 26 per cent stake in RCAM was acquired in 2012, for about
  1450 crore rupees. Nippon also has stake in Reliance Capital’s insurance arm,
  Reliance Life Insurance.

• ·        
  State Bank of India (SBI) Mutual Fund (MF) announced on 26 November 2014
  that it will launch Shariah Equity Fund on 1 December 2014. The fund is aimed
  at attracting investments from Muslim populations of India. 
• ·        
  The fund has been approved by the All India Muslim Personal Law Board,
  an authority that oversees the observance of Muslim civil laws in India.
• ·        
  With this, SBI MF will become the fourth fund house in India to have an
  Islamic equity fund after Goldman Sachs MF, Taurus MF and Tata MF.
• ·        
  Also, India became the second country outside the Islamic world where a
  state-owned bank is offering a Shariah-compliant fund. The UK is the first
  country who issued sovereign Islamic bonds in June 2014.
• ·        
  Shariah Equity Fund is a diversified equity fund, including large, mid
  and small cap companies.
• ·        
  These funds are basically an investment fund which meets all of the
  requirements of Shariah law and the principles articulated for Islamic finance.

• ·        
  The Reserve Bank of India on 27 November 2014 issued Guidelines for
  Licensing of Small Finance Banks in the Private Sector. As per the issued
  guidelines, the minimum paid-up equity capital for small finance banks shall be
  100 crore rupees.
• ·        
  But the licenses will be granted after the applicants fulfill the
  necessary ‘fit and proper’ criteria, among other conditions with a sound track
  record of professional experience or of running their businesses for at least a
  period of five years. Those interested, would need to apply before 16 January
  2015 for first round of such permits.
• ·        
  These norms for payment banks and small finance banks would allow mobile
  firms and supermarket chains, among others, to enter the banking arena to cater
  to individuals and small businesses. The move aims at deepening financial inclusion
  and boost saving habits.

• ·        
  Provision of savings vehicles
• ·        
  Supply of credit to small business units, small and marginal farmers,
  micro and small industries and other unorganized sector entities, through high
  technology-low cost operations

• ·        
  Resident individuals/professionals carrying 10 years of experience in
  banking and finance and companies and societies owned and controlled by
  residents will be eligible to set up small finance banks.
• ·        
  Existing Non-Banking Finance Companies (NBFCs), Micro Finance
  Institutions (MFIs), and Local Area Banks (LABs) that are owned and controlled
  by residents can also opt for conversion into small finance banks.

• ·        
  The promoter’s minimum initial contribution to the paid-up equity
  capital of such small finance bank shall at least be 40 percent and gradually
  brought down to 26 percent within 12 years from the date of commencement of
  business of the bank.

• ·        
  The foreign shareholding in the small finance bank would be as per the
  Foreign Direct Investment (FDI) policy for private sector banks as amended from
  time to time.

• ·        
  The small finance bank will be subject to all prudential norms and
  regulations of RBI as applicable to existing commercial banks including
  requirement of maintenance of Cash Reserve Ratio (CRR) and Statutory Liquidity
  Ratio (SLR). No forbearance would be provided for complying with the statutory
  provisions.
• ·        
  The small finance banks will be required to extend 75 percent of its
  Adjusted Net Bank Credit (ANBC) to the sectors eligible for classification as
  priority sector lending (PSL) by the Reserve Bank.
• ·        
  At least 50 percent of its loan portfolio should constitute loans and
  advances of upto 25 lakh rupees.

• ·        
  Reserve Bank of India (RBI) on 27 November 2014 released guidelines for
  Licensing of Payments Banks.  These
  guidelines will allow mobile firms and supermarket chains, among others, to
  enter the banking arena to cater to individuals and small businesses.
• ·        
  The objectives of payments banks will be to further financial inclusion
  by providing small savings accounts and payments or remittance services to
  migrant labour workforce, low income households, small businesses, other
  unorganised sector entities and other users.

• ·        
  Existing non-bank Pre-paid Payment Instrument (PPI) issuers, mobile
  firms and supermarket chains, among others existing NBFCs and micro finance
  lenders are promoters who are eligible to set up payment banks.
• ·        
  Large public sector enterprises and big industrial houses are not
  allowed to establish Payment banks.
• ·        
  A promoter or promoter group can have a joint venture with an existing
  scheduled commercial bank to set up a payments bank. But they should have a
  sound track record of five years period of running businesses.
• ·        
  Payment Banks will initially be restricted to holding a maximum balance
  of 1 lakh rupees per individual customer. It can issue ATM or debit cards but
  not credit cards.
• ·        
  Payment bank cannot undertake lending activities but can distribute the
  non-risk sharing simple financial products such as mutual fund units and
  insurance products, etc.
• ·        
  These banks also should maintain Cash Reserve Ratio (CRR) with the
  Reserve Bank, it will be required to invest minimum 75 percent of its demand
  deposit balances in Statutory Liquidity Ratio (SLR) with maturity up to one
  year and hold maximum 25 per cent in current and time or fixed deposits with
  other scheduled commercial banks for operational purposes and liquidity
  management.
• ·        
  The minimum capital for payments banks is 100 crore rupees and it should
  have a leverage ratio of not less than 3 percent that is its outside
  liabilities should not exceed 33.33 times its net worth (paid-up capital and
  reserves).
• ·        
  The promoter’s minimum initial contribution to the paid-up equity
  capital for payments bank shall at least be 40 percent for the first five years
  from the commencement of its business.
• ·        
  The foreign shareholding in the payments bank should be as per the
  Foreign Direct Investment (FDI) policy for private sector banks as amended from
  time to time.
• ·        
  The operations of the bank should be fully networked and technology
  driven from the beginning, conforming to generally accepted standards and
  norms. It should have a high powered Customer Grievances Cell to handle
  customer complaints
• ·        
  Those who are interested can apply before January 16 for first round of
  such permits however these guidelines are subjected to periodic review and
  revision.
• ·        
  External Advisory Committee (EAC) of RBI will evaluate the applications
  and decision to issue an in-principle approval for setting up of payment bank
  will be taken by RBI.
• ·        
  The validity of the in-principle approval issued by the Reserve Bank
  will be eighteen months.

• ·        
  Reserve Bank of India (RBI) on 26 November 2014 decided to sell worth
  2000 crore rupees government bonds through Open Market Operations (OMOs) to
  squeeze the liquidity in the market.
• ·        
  RBI will sell government securities maturing in 2017 (bearing interest
  rate of 8.07 per cent), 2020 (7.80 percent), 2022 (8.08 percent) and 2027 (8.26
  percent).
• ·        
  Open market operations (OMO) are a monetary policy tool used by RBI to
  increase or decrease money supply by buying and selling government bonds in the
  open market.
• ·        
  When the RBI feels there is excess liquidity in the market, it resorts
  to sale of securities thereby sucking out the rupee liquidity. Similarly, when
  the liquidity conditions are tight, the RBI will buy securities from the
  market, thereby releasing liquidity into the market.

• ·        
  Union Government on 28 November 2014 nominated Rajiv Mehrishi as a
  Director on the Central Board of Directors of Reserve Bank of India.
• ·        
  He is a 1978-batch Indian Administrative Services (IAS) officer of
  Rajasthan cadre.
• ·        
  He succeeded Arvind Mayaram. At the time of being appointed as Director
  on RBI Central Board, Mehrishi was working as Secretary of Department of
  Economic Affairs in Union Ministry of Finance.
• ·        
  Prior to Secretary of Department of Economic Affairs, he was working as
  Rajasthan chief secretary. Mehrishi has served on many positions in the state
  government. He was joint secretary in the cabinet secretariat. Mehrishi is said
  to be the brains behind key labour reforms in Rajasthan.

• ·        
  The Reserve Bank of India on 28 November 2014 issued final guidelines
  for the Bharat Bill Payment System (BBPS). The system will help consumers pay
  multiple bills like electricity, telephone and school fees at a single point of
  transaction.
• ·        
  The BBPS is an integrated bill payment system offering inter-operable
  and accessible bill payment service to customers through a network of agents,
  enabling multiple payment modes, and providing instant confirmation of payment.
• ·        
  The National Payments Corporation of India (NPCI) will function as the
  authorised Bharat Bill Payment Central Unit (BBPCU) to set the standards for
  BBPS processes which need to be adhered to by all operating units (Bharat Bill
  Payment Operating Units – BBPOUs) under the system.
• ·        
  The prospective participants of the BBPS system are advised to interact
  with the NPCI to work out the modalities.
• ·        
  The apex bank has set a 100 crore rupees net worth and domestic
  registration as qualifying conditions for those seeking to be authorised
  collection agents.

• ·        
  The Reserve Bank of India (RBI) 26 November 2014 eased gold imports and
  scrapped 20:80 scheme. The decision to withdraw the 20:80 scheme will cut
  smuggling of gold and raise legal shipments into India.
• ·        
  In 2013, the 20:80 scheme was introduced to bring down inbound
  shipments, sliding rupee and to combat a huge current account deficit (CAD)
  along with a hike in import duty to 10 percent.
• ·        
  Under the scheme, 20 percent of the imported gold had to be mandatorily
  exported as finished products like jewellery. Initially only public sector
  firms and banks were allowed to import gold and later in May 2014 these rules
  were slightly eased to star and premier export houses.

• ·        
  India and Nepal signed 10 pacts on 25 November 2014 during Prime
  Minister Narendra Modi visit to Nepal. The pacts included five Agreements and
  five memorandum of understandings (MoUs). PM Modi also attended two events.
• ·        
  The agreements were signed after talks between Narendra Modi and Nepal’s
  Prime Minister Sushil Koirala. During the talks the two leaders discussed key
  strategic issues like defence and security. Modi also inaugurated a trauma
  centre built by India at Bir Hospital in Kathmandu.
• ·        
  Two events attended by Modi were Unveiling of Plaque for Nepal Police
  Academy and Handing over of keys for Mobile Soil Testing Van.

• ·        
  Agreement on extending Line-of-Credit of 1 billion US dollar by India
• ·        
  Motor Vehicle Agreement (MVA)
• ·        
  Twin City Agreement between Ayodhya – Janakpur
• ·        
  Twin City Agreement between Kathmandu – Varanasi
• ·        
  Twin City Agreement between Lumbini – Bodh Gaya

• ·        
  MoU on Nepal Police Academy (NPA)
• ·        
  MoU on Tourism
• ·        
  MoU Traditional Medicines
• ·        
  MoU on Youth Exchange
• ·        
  MoU on PDA for ARUN III

• ·        
  The Lok Sabha on 26 November 2014 passed Delhi Special Police
  Establishment (DSPE) (Amendment) Bill, 2014. The amendment bill was passed by
  voice vote to include leader of the single Largest Opposition Party (LoP) as a
  member of the selection committee to choose the CBI chief.
• ·        
  The amendment to the DSPE Act, 1946 was required in light of the fact
  that the present Central Bureau of Investigation chief Ranjit Sinha is due to
  retire on 2 December 2014. This would have necessitated choosing a new CBI
  chief which is selected by a panel that also includes Leader of the Opposition
  in the Lok Sabha.
• ·        
  The existing provisions of the Act states that a CBI chief can be
  appointed by the Union Government on the basis of recommendation of the
  selection committee headed by the Prime Minister, and comprising the LoP and
  the Chief Justice of India or a Supreme Court judge nominated by him, as
  members.
• ·        
  However, in the 16th Lok Sabha, there is no recognised Leader of
  Opposition as no party was able to cross the benchmark of one-tenth of the
  total membership of the House that is required for leader of opposition.
• ·        
  Thus, the Bill amending Section 4 (a) of the Act was introduced in Lok
  Sabha on 24 November 2014 to include leader of the single Largest Opposition
  Party (LoP) as a member of the selection committee to choose the CBI chief.
• ·        
  However, the amendment stated that any vacancy or absence in the panel
  will not render the appointment of the CBI Director invalid.

• ·        
  Biography titled My Name is Abu Salem was released on 16 November 2014.
  Biography on underworld gangster Abu Salem has been written by S Hussain Zaidi
  and published by Penguin. 
• ·        
  The author of the book, Zaidi who knows the Mumbai underworld better
  than anyone else has tried to tell, the life of Salem. In My Name is Abu Salem,
  the author has tried to present complete unknown details and first accounts of
  the gangster.
• ·        
  Biography My Name is Abu Salem depicts that Mumbai has produced many
  dons, but perhaps none so colourful like Abu Salem. The book investigates into
  the personal and criminal life of Abu Salem, including his relationship with
  actress Monica Bedi.
• ·        
  The book states that the flamboyant ex-aide of Dawood Ibrahim is best
  known for his involvement in the Mumbai blasts of 1993 and for the murder of
  music composer Gulshan Kumar. Beside this, Salam is equally famous for his
  relationship with actress Monica Bedi and his close connection to Bollywood,
  leading to a number of attempted murders of the film industry’s biggest names.
• ·        
  Hussain Zaidi is an Indian writer and former investigative journalist.
  He was born and raised in Mumbai. He authored Dongri to Dubai: Six Decades of
  the Mumbai Mafia (2013), Mafia Queens of Mumbai (2011) and Black Friday (2001).
• ·        
  His two books namely Black Friday and Dongri to Dubai have been adapted
  as Bollywood films.

• ·        
  President of India Pranab Mukherjee penned a book titled The Dramatic
  Decade: The Indira Gandhi Years. The book has been published by Rupa and will
  be released on 11 December 2014.
• ·        
  The Dramatic Decade is the first of a three-part volume; the second one
  will be on the years from 1981–88 and the third volume will be from 1988 to
  2012.
• ·        
  The book Dramatic Decade provides an insight into the era of 1970s, the
  era that largely belonged to the then Prime Minister Indira Gandhi. Years of
  1970s are considered as a turning point in the political and economic evolution
  of India as this decade witnessed the India-Pakistan war, internal Emergency,
  economic reforms and the beginning of coalition politics in the country.
• ·        
  The book presents an exceptional portrait of a complex nation and draws
  from Pranab Mukherjee’s personal diary extracts, conversations with key players
  of the 1970s, and vital secondary literature.

• ·        
  The National Green Tribunal (NGT) on 26 November 2014 held that all
  vehicles which are more than 15-years-old would not be permitted to ply on
  Delhi roads.
• ·        
  This direction would be applicable to all vehicles without exception
  i.e. two wheelers, three wheelers, four wheelers, light vehicles and heavy
  vehicles irrespective of whether commercial or otherwise.
• ·        
  Besides, the bench of Green tribunal also directed the concerned
  authorities to take appropriate steps in accordance with the provisions of
  Motor Vehicle Act, 1988, including seizure of the vehicles, wherever such
  vehicles of this age are noticed. The bench strictly directed the transport
  officers not to renew registration of vehicles which are over 15-years-old.
• ·        
  The Tribunal also said that no person will be permitted to burn plastic
  or any other material in the open. In its order, the bench said that in case
  any person is found burning plastic or any other material including tree leaves
  in the open, would be liable to be punishment in accordance with law and the
  Police, Delhi Pollution Control Committee and NCT.

• ·        
  Union Government on 26 November 2014 passed Central University Amendment
  Bill 2014 in the Lok Sabha. The bill provides for the establishment of Mahatma
  Gandhi Central University in Motihari (Bihar).
• ·        
  The bill also proposed renaming of the existing Central University in
  the state of Bihar as the Central University of South Bihar.
• ·        
  The initial expenditure for the establishment of the Mahatma Gandhi
  Central University will be approximately 240 crore rupees. The expenditure
  would be met from consolidated fund of India through budgetary provisions of
  the Ministry of Human Resource Development.
• ·        
  The representatives in Parliament, Legislative Assembly and Legislative
  Council of Bihar supported for the establishment of Central University in Bihar
  after the name of Mahatama Gandhi.
• ·        
  Motihari in Bihar has historical importance because Champaran movement
  by Mahatama Gandhi during freedom struggle was launched from this place.

• ·        
  Union Government on 27 November 2014 launched Electronic Travel
  Authorization (ETA) Scheme or E-visa to make travel of foreigners to India on
  Tourist Visa on Arrival (TVOA) facility easier. The scheme is available for 43
  countries to boost tourism to India.
• ·        
  The Electronic Travel Authorization Scheme or E-visa facility is
  available to Foreigners who wants to visit for recreation, sightseeing, short
  duration medical treatment, casual business visit, casual visit to meet friends
  or relatives which is not valid for any other purposes.
• ·        
  The facility will allow entry into India within 30 days from the date of
  approval of ETA and will be valid for 30 days stay in India from the date of
  arrival in India.
• ·        
  The facility cannot be available more than twice in a calendar year and
  it will be available at nine International airports in India namely Delhi,
  Mumbai, Chennai, Kolkata, Hyderabad, Bengaluru, Thiruvananthapuram, Kochi and
  Goa.
• ·        
  The foreigner or visitor can apply for an India visa online without
  visiting Indian Mission and can also pay the visa fee online.
• ·        
  Once visa is approved then applicant will receive an email authorising
  the applicant to travel to India and the visitor has to present the
  authorisation to the immigration authorities on arrival to India where they will
  stamp the entry into India.
• ·        
  The facility is available to following 43 countries nationals to travel
  to India for tourism for a short stay of 30 days.
• ·        
  The countries are Australia, Brazil, Cambodia, Cook Islands, Djibouti,
  Federated States of Micronesia, Fiji, Finland, Germany, Indonesia, Israel,
  Japan, Jordan, Kenya, Kingdom of Tongo, Laos, Luxembourg, Mauritius, Mexico,
  Myanmar, New Zealand, Niue, Norway, Oman, Palestine, Papua & New Guinea,
  Philippines, Republic of Kiribati, South Korea, Republic of Marshall Islands,
  Republic of Nauru, Republic of Palau, Russia, Samoa, Singapore, Solomon
  Islands, Thailand, Tuvalu, UAE, Ukraine, USA, Vietnam and Vanuatu.
• ·        
  However, this facility will not be available to people from countries
  like Pakistan, Sudan, Afghanistan, Iran, Iraq, Nigeria, Sri Lanka and Somalia.

• ·        
  Namsai on 25 November 2014 officially became the 18th district of
  Arunachal Pradesh. The Chief Minister of Arunachal Pradesh Nabam Tuki made the
  declaration.
• ·        
  The Chief Minister exhorted the officials to prepare a master plan for
  the new district and the state government would extend all possible help.
• ·        
  The State Legislative Assembly passed the District re-organisation Bill
  on 20 March 2013 for creation of Namsai district and notification was issued on
  15 July 2013. The formal announcement was made during the 68th Independence Day
  celebration on 15th August 2014.
• ·        
  The nascent district has a population of 95950 as per 2001 census and
  has an area of 1587 square kilometres with a literacy rate of 54.24 percent.
• ·        
  It is inhabited by the Tai Khampti, Singpho, Deori and Mishing tribes.
  The district also has a high potential of growth in the tourism sector,
  particularly in the spiritual segment with numerous temples and stupas making
  it an abode of the Theravada Buddhists.

• ·        
  Lok Sabha on 27 November 2014 passed the Constitution (Scheduled Castes)
  Orders Amendment Bill, 2014. The bill seeks to include more castes under
  Scheduled Castes category in four states and exclude Majhi (Nepali) community
  from it in Sikkim.
• ·        
  The four States mentioned in the Bill are Kerala, Madhya Pradesh, Odisha
  and Tripura.
• ·        
  For this, the Bill seeks to amend the Constitution (Scheduled Castes)
  Order, 1950 and the Constitution (Sikkim) Scheduled Castes Order, 1978.

•       I.       
  Kerala: Pulluvan, Thachar (other than ‘Carpenter’)
•      II.       
  Madhya Pradesh: Dahiya
•     III.       
  Odisha: Amata, Amath, Bajia, Jaggili, Jagli, Buna Pano
•     IV.       
  Tripura: Chamar-Rohidas, Chamar-Ravidas, Dhobi, Jhalo-Malo

• ·        
  Rajya Sabha on 27 November 2014 passed the Apprentices (Amendment) Bill,
  2014 by voice vote. The bill seeks to amend the Apprentices Act, 1961.
• ·        
  The Bill was passed by the Lok Sabha on 7 August 2014.

• ·        
  It amends the definition of appropriate government to include an
  establishment operating in four or more states to be regulated by the central
  government. 
• ·        
  It amends the definitions of: (i) designated trade, (ii) graduate or
  technician apprentice, (iii) trade apprentice, (iv) industry and (v) worker and
  add two new definitions: (i) optional trade, and (ii) portal-site.
• ·        
  It adds that the minimum age for apprenticeship in designated trades
  related to hazardous industries shall be 18 years although the Act sets the
  minimum age for being engaged as an apprentice at 14 years. 
• ·        
  It states that the hours of work and leave will be as per the discretion
  or policy of the employer. Earlier the hours of work and leave as per the Rules
  prescribe in the Act.

• ·        
  Former Uttar Pradesh chief secretary Anoop Mishra was on 26 November
  2014 appointed as new Secretary General of the Lok Sabha. He was appointed by
  Lok Sabha Speaker Sumitra Mahajan.
• ·        
  He will hold the rank and status of Cabinet Secretary with effect from 1
  December 2014 up to 30 November 2016 or until further orders.

• ·        
  The book titled Black Tornado: The Three Sieges of Mumbai 26/11 authored
  by Sandeep Unnithan was released on 23 November 2014.
• ·        
  Sandeep Unnithan in his book puts together a blow-by-blow account of the
  26 November 2011 terrorist attack in Mumbai and how the siege of Mumbai was
  thwarted by India’s security forces.
• ·        
  The 26/11 attack is widely regarded as the world’s first hybrid
  terrorist attack. The attackers achieved through this long-drawn siege what Al
  Qaeda did through the high-visibility mass-casualty attack on the World Trade
  Centre of USA on 11 September 2001.
• ·        
  The response to this attack was the first instance of all three wings of
  the Indian armed forces coming together to fight terror. The attacks tested the
  India’s elite counter-terrorist force, the National Security Guard (NSG).
• ·        
  Black Tornado, the operation called by the NSG, is the story of the men
  called into action including army personnel, Indian Navy and the air force in
  the desperate hours following the most sensational terrorist attack the country
  had ever seen.
• ·        
  Sandeep Unnithan is Deputy Editor with India Today magazine in New Delhi
  where he writes on security related issues.

• ·        
  The 37th Jamnalal Bajaj Foundation Awards for the year 2014 were
  presented on 28 November 2014 during a ceremony held at Jamshed Bhabha Theatre,
  NCPA in Mumbai. In the year 2014, the Foundation is commemorating the 125th
  Birth Anniversary of Jamnalal Bajaj.

• ·        
  Outstanding Contribution in Constructive Work: Surendra Koulagi
  (Founder, Janapada Seva Trust, Karnataka)
• ·        
  Outstanding Contribution in Application of Science & Technology for
  Rural Development: Ram Kumar Singh (Managing Trustee & Director, Suruchi
  Shikshan Vasahat Trust, Gujarat)
• ·        
  Outstanding Contribution in Development and Welfare of Women and
  Children and-or Gandhian Constructive Work by Women Workers: Smt. Chennupati
  Vidya (Founder President, Vasavya Mahila Mandali, Andhra Pradesh)

• ·        
  Legendary Kathak danseuse Sitara Devi died on 25 November 2014 at Jaslok
  Hospital in Mumbai. She was 94.
• ·        
  Her dance was based on the themes, poetry and choreography collected by
  her father. She was also inspired from the environment around her town and
  village and the characters used to come live in her character.
• ·        
  Sitara Devi’s roots were inextricably woven to the tradition of
  kathakars, the early Kathak dancers. Thus, she usually used to say that she is
  just a kathakar of Krishna-leela (tales of Krishna).
• ·        
  Sitara devi was born as Dhannolakshmi in the Brahmin family of a
  kathakar Sukhdev Maharaj in Kolkata in 1920
• ·        
  Her first performance was a dance drama Savitri Satyavan performed by
  her at local school in Kolkata. This led her father to re—christen her name as
  Sitara or the star
• ·        
  Rabindranath Tagore described her as Nritya Samragini, meaning the
  empress of dance, after watching her performance when she was just 16 years old
• ·        
  She gave performances in several parts of India, and in several other
  countries, including at the Royal Albert Hall, London in 1967; and at the
  Carnegie Hall, New York in 1976
• ·        
  She is known as a pioneering force in bringing the genre to Bollywood
• ·        
  At the age of 12, she was recruited by Niranjan Sharma, a filmmaker and
  a dance director.

• ·        
  West Bengal Governor Keshari Nath Tripathi was appointed as Governor of
  Bihar by the President Pranab Mukherjee on 23 November 2014. He will discharge
  the functions of the Governor of Bihar in addition to his own duties as
  Governor of West Bengal.
• ·        
  He will take the charge from Bihar Governor D Y Patil, who completes his
  tenure on 26 November 2014.
• ·        
  In July 2014, he was appointed as 22nd Governor of West Bengal. He will
  be in charge of Bihar until regular arrangements for the office of the Governor
  is made.
• ·        
  According to article 153, there shall be a Governor for each State but
  the 7th Constitutional Amendment Act 1956 facilitated the appointment of same
  person as governor for two or more states.

• ·        
  Former Supreme Court (SC) judge Justice Chandramauli Kumar (CK) Prasad
  was on 24 November 2014 chosen as the next chairperson of the Press Council of
  India (PCI).
• ·        
  CK Prasad will succeed Justice Markenday Katju as the Chairman of the
  PCI. He was selected by a committee headed by Vice-President Hamid Ansari.
• ·        
  He took oath as the Chief Justice of Allahabad High Court on 20 March
  2009.
• ·        
  In February 2010, CK Prasad was elevated as the Judge of Supreme Court
  of India.

• ·        
  Three global organisations on 24 November 2014 signed a memorandum of
  understanding (MoU) to end open defecation in India. The agreement is for three
  years.
• ·        
  These three organisations are the World Toilet Organisation (WTO), WASTE
  and the Financial Inclusion Improves Sanitation and Health (FINISH). They share
  the common goal of making sanitation accessible and affordable to all citizens.
• ·        
  The MoU was signed to share best practices in the sanitation sector and
  help millions of Indians gain access to basic sanitation facilities.
• ·        
  The objective of the agreement is to support the Central government in
  making the country free of open defecation and promoting sustained usage of
  sanitation systems.
• ·        
  India has the largest number of people defecating in open in the world.
  Globally, India continues to be the country with the highest number of people
  (597 million people) practising open defecation as per the United Nations
  report the Progress on Drinking Water and Sanitation 2014.

• ·        
  Haryana government on 25 November 2014 reversed the retirement age of
  government employees from 60 to 58 years. It also reversed the retirement age
  of Class IV, visually impaired and handicapped employees from 62 to 60 years.
• ·        
  Government notification will come in effect from 30 November 2014.
  While, the upper age limit for fresh recruitment would remain 42 years.
• ·        
  The decision was made during a Cabinet meet chaired by Chief Minister
  Mahohar Lal Khattar at Chandigarh.

• ·        
  Aaranyak, an Assam-based NGO working for the conservation of nature and
  a Kathmandu-based International Centre for Integrated Mountain Development
  (ICIMOD) on 25 November 2014 won United Nations Lighthouse Activities award for
  the year 2014.
• ·        
  They won the award under the focus area of information and communication
  technology (ICT) solutions.
• ·        
  They won the award for its community-based flood early warning system
  that has benefited 40 villages in flood-prone Dhemaji and Lakhimpur districts.
  Since 2010-11, the system has directly or indirectly benefitted more than 20000
  people living in the catchment areas of two rivers, Jiadhal in Dhemaji and Singora
  in Lakhimpur districts.
• ·        
  The award was declared by United Nations Framework Convention on Climate
  Change (UNFCCC) in Bonn, Germany. Representatives of Aaranyak and ICIMOD will
  go to Lima, Peru to receive the award on 11 December 2014.

• ·        
  Indian dairy sector majors decided to celebrate 26 November as National
  Milk Day to mark the 93rd birth anniversary of Father of White Revolution, Dr.
  Verghese Kurien.
• ·        
  Indian diary sector majors that have joined hands are National Dairy
  Development Board (NDDB), Indian Dairy Association (IDA) along with around 22
  state level milk federation’s including Gujarat’s own – Gujarat Co-operative
  Milk Marketing Federation (GCMMF) that markets brand Amul.
• ·        
  As part of the celebrations, 200 lakh milk pouches of Amul will carry
  the National Milk Day’s logo featuring Dr Kurien for a week across the country.
• ·        
  Amul organised school campaigns, interactions with youngsters, plant
  visits, milk drinking contests, activities in orphanages, essay/drawing/quiz
  competitions in schools, and milk moustache competitions, among others.
• ·        
  The idea of celebrating birth anniversary of Dr. Kurien as National Milk
  Day was first mooted by IDA. The idea was mooted on the lines of World Milk Day
  celebrated globally on June 1 since 2001 under the aegis of United Nations Food
  and Agriculture Organization (FAO).
• ·        
  World Milk Day is celebrated to publicize activities related to milk and
  milk industries and raise public awareness about the importance of milk and
  milk products for everyone throughout life.

• ·        
  The Union Government on 25 November 2014 announced Swachh Bharat Kosh
  Operational Guidelines, 2014. The guidelines will come into force with
  immediate effect.
• ·        
  The Kosh was announced to achieve the objective of cleanliness across
  India. The fund will be utilised to build toilets in schools of rural and urban
  areas.
• ·        
  Swachh Bharat Kosh has been set up to facilitate channelization of philanthropic
  contributions and Corporate Social Responsibility (CSR) funds towards Clean
  India (Swachh Bharat). The kosh was launched after individuals and
  philanthropists expressed interest in contributing to efforts to achieve the
  objective of Clean India (Swachh Bharat) by the year 2019.

• ·        
  India and Mozambique on 28 November 2014 signed a memorandum of
  understanding (MoU) for cooperation in Oil and Gas sector for a period of five
  years. The MoU was signed during Minister of Foreign Affairs of Mozambique
  Oldemiro Julio Marques Baloi visit to India.
• ·        
  The MoU will enhance bilateral cooperation on the basis of equality and
  mutual benefit. It seeks cooperation in oil and gas in both upstream and
  downstream sectors in the areas of enhancing capacity-building, forging closer
  cooperation between research and training centres and intensifying technology
  transfer, among others.
• ·        
  Mozambique plans to produce 34 million tonnes of liquefied natural gas
  annually from its Rovuma Area 1 offshore block – where state-run ONGC Videsh
  Ltd, Oil India and Bharat Petroleum Corp have bought 30 percent stake.
• ·        
  The MoU will allow the Indian companies to participate in the LNG
  project of Mozambique that will facilitate access to LNG for the growing Indian
  gas market. It will bring natural gas to India at market-determined price.

• ·        
  Book titled Next China-India War – World’s First Water War – 2029
  authored by former Army chief General Sundarajan Padmanabhan was released in
  October 2014.
• ·        
  74-year-old former General, who is known for mobilizing the Army during
  Operation Parakram in response to the 2001 terror attack on the Parliament, in
  the book has predicted that the two countries will conflict over the
  Brahmaputra.
• ·        
  In his prediction he has showcased Chinese plan to divert Yarlung
  Tsangpo (Brahmaputra River) from flowing south to India and Bangladesh to
  flowing north to Northwest China. India has also protested against this project
  to the UN, who referred it to the International Court of Justice. Both the
  Court and the UN held that as the river originates in Tibet, a province of
  China, China was entitled to alter the course of the river to suit her.
• ·        
  Recently, China also announced that it has completed a major dam on
  Brahmaputra, in Tibet. On the other hand, India has raised its concern that the
  dam could cause flash floods and landslides downstream.

• ·        
  Book titled Letters for a Nation written by Jawaharlal Nehru &
  Madhav Khosla was published by Allen Lane an imprint of Penguin Books on 15
  October 2014.
• ·        
  The book contains Jawaharlal Nehru letters as Prime Minister of India to
  the heads of the country’s provincial governments which he kept a tradition
  till 1963.
• ·        
  It contains the selected letters from among nearly 400 such letters and
  this collection covers a range of themes and subjects, including citizenship,
  war and peace, law and order, national planning and development, governance and
  corruption, and India’s place in the world.
• ·        
  These letters also cover momentous world events and the many crises and
  conflicts of India that was faced during the first sixteen years after
  Independence.
• ·        
  Visionary, wise and reflective, these letters are not just a testimony
  to Nehru’s statesmanship and his deep engagement with every aspect of India’s
  democratic journey, but are also of great contemporary relevance for the
  guidance they provide for our current problems and predicaments.

• ·        
  International Day for the Elimination of Violence Against Women observed
  across the world on 25 November 2014. The day was observed to raise awareness
  about violence against women and discuss solutions that would work for women
  community.
• ·        
  The campaign called Orange Your Neighbourhood to raise awareness against
  Gender-Based Violence will be held from 25 November to 10 December 2014.  The campaign is part of Secretary-General Ban
  Ki-moon’s campaign UNiTE to End violence against Women.
• ·        
  The campaign was taken to local streets shops and businesses, and
  organizes Orange Events in their own neighbourhoods. Orange events includes
  from marches, marathons and panel discussions to radio and television
  programmes, concerts and film festivals.
• ·        
  UN Women also launched HeForShe, a global campaign to engage men and
  boys as advocates and agents of change for the achievement of gender equality
  and rights of women.

• ·        
  Lahore-based author Bilal Tanweer on 24 November 2014 won the 2014
  Shakti Bhatt First Book Prize for his novel The Scatter Here Is Too Great
  (Random House India).
• ·        
  Bilal Tanweer  was selected by the
  jury of the award consisting of authors Amit Chaudhuri, Aatish Taseer and
  Mridula Koshy. The award comprised of the price money of 2 lakhs rupees and a
  trophy.
• ·        
  The five other books shortlisted for the 2014 Shakti Bhatt First Book
  Prize were: A Bad Character by Deepti Kapoor, The Vanishing Act by Prawin
  Adhikari, A cool dark place by Supriya Dravid, The Competent Authority by
  Shovon Chowdhury and The Smoke Is Rising by Mahesh Rao.
• ·        
  The Shakti Bhatt First Book Prize is an award named after journalist
  Shakti Bhatt, who passed away in 2007.
• ·        
  The Shakti Bhatt Prize represents the evolving ethos of South Asian
  literature. Other shortlists in the category included books based in the urban
  Indian metropolitans and rural Nepal, amongst other locales.
• ·        
  The award was won by Nilanjana Roy in 2013 for her book The Wildlings.

• ·        
  United Nations (UN) Women on 25 November 2014 announced the appointment
  of Indian tennis superstar and youth icon, Sania Mirza, as its Goodwill
  Ambassador for South Asia. The organisation is dedicated to gender equality and
  women’s empowerment.
• ·        
  She became the first South Asian woman to be appointed as a Goodwill
  Ambassador.
• ·        
  The other Goodwill Ambassadors include British actor Emma Watson,
  Academy Award winner Nicole Kidman, HRH Princess Bajrakitiyabha Mahidol of
  Thailand, and Indian actor-filmmaker-singer Farhan Akhtar.
• ·        
  She became the first Indian to break into the World Tennis Association’s
  Top 50 rankings. Sania Mirza is one of the most successful women’s tennis
  players of India.

• ·        
  New species of bird Muscicapa flycatcher was named after an Indian
  ornithologist Navjot Sodhi. The bird found in Sulawesi Island of Indonesia was
  named as Muscicapa sodhii.
• ·        
  This was revealed by a study titled A New Species of Muscicapa
  Flycatcher from Sulawesi, Indonesia published in the Journal PLOS ONE on 24
  November 2014. The co-author of the study was J Berton C Harris, a
  post-doctoral fellow at Princeton University.
• ·        
  The team led by Harris decided to name the bird as Muscicapa sodhii to
  pay homage to late ecologist and ornithologist Navjot Sodhi, who was Harris’
  former mentor and a professor at the National University of Singapore.
• ·        
  Several animal species also have been named after Sodhi, including a
  snail, a fish and a new genus and species of crab. The naming of so many
  species in honour of Sodhi shows how important he was to his students and
  collaborators.

• ·        
  Pakistani actress Veena Malik was sentenced to 26 years in jail on 26
  November 2014 by an Anti-Terrorism Court (ATC) of the Gilgit region of
  Pakistan.
• ·        
  She was sentenced for blasphemy for appearing in mock Geo TV wedding
  scene in which religious song about the wedding of the Prophet Muhammad’s daughter
  was played in background.
• ·        
  Apart from Veena Malik, the court’s Judge Shahbaz Khan also sentenced
  Mir Shakil-ur-Rahman, owner of Geo TV and Jang group, Malik’s husband Asad
  Bashir Khan and TV host Shaista Wahidi for 26 years each.
• ·        
  The ATC also imposed a 1.3 million Pakistani rupees fine on the convicts
  and ordered that their properties should be sold to raise the fine, if they
  failed to pay it.
• ·        
  The court in its 40-page verdict also asked the police to arrest the
  convicts. But it said that the convicts can appeal in the regional high court
  in Gilgit-Baltistan.

• ·        
  Two Indians authors namely Jhumpa Lahiri and Writer critic Shamsur
  Rahman Faruqi were among the list of five authors shortlisted for DSC Prize for
  the year 2015. The shortlist for 2015 was announced on 27 November 2014.
• ·        
  The final winner of the award will be announced at the Jaipur Literature
  Festival. DSC Prize is one of the South Asia’s biggest literary awards. The
  award carried 50000 US dollar prize money.

•       I.       
  Bilal Tanweer for The Scatter Here is Too Great
•      II.       
  Jhumpa Lahiri for The Lowland
•     III.       
  Kamila Shamsie for A God in Every Stone
•     IV.       
  Romesh Gunesekera for Noontide Toll
•      V.       
  Shamsur Rahman Faruqi for The Mirror of Beauty

• ·        
  Jhumpa Lahiri’s novel The Lowland is an intimate portrayal of two
  brothers and political passion. The novel was earlier shortlisted for the Man
  Booker Prize for the year 2013. Her debut short story collection, Interpreter
  of Maladies had won the 2000 Pulitzer Prize for Fiction.
• ·        
  Indian Poet, novelist and literary critic Faruqi has been shortlisted
  for his novel The Mirror of Beauty which he translated from Urdu and deals with
  the sunset of the Mughal Empire.

• ·        
  Eighteenth Summit meeting of the South Asian Association for Regional
  Cooperation (SAARC) was held in Kathmandu, Nepal from 26 to 27 November 2014.
  The 18th SAARC summit was the 30th Year of the SAARC.
• ·        
  The summit concluded on 27 November 2014 with Kathmandu Declaration.
  Theme of the summit was Deeper Integration for Peace and Prosperity.
• ·        
  In Kathmandu Declaration SAARC leaders reaffirmed their commitment to
  the principles and objectives of SAARC for ensuring the welfare and quality of
  life of the peoples of South Asia and recognized to reinvigorate SAARC’s
  regional cooperation and revitalize SAARC as an effective vehicle to fulfill
  the developmental aspirations of the peoples of South Asia.
• ·        
  Observer participants of the 18th SAARC summit were Australia, China,
  Iran, Japan, Korea, Mauritius, Myanmar, the US and the European Union.
• ·        
  The leaders agreed to hold the Nineteenth Summit of SAARC in Islamabad,
  Pakistan in 2016.

• ·        
  Australian cricketer Phillip Hughes on 27 November 2014 died after being
  into induced coma. He went into induced coma on 25 November 2014 after a
  bouncer ball of Sean Abbott hit back of his head during a Sheffield Game at
  Sydney Cricket Ground in Australia.
• ·        
  The ball struck just below his helmet when he attempted a pull shot in a
  Sheffield Shield match at the SCG. After New South Wales’ paceman Sean Abbott
  ball struck Hughes, he collapsed and hit the ground.
• ·        
  Hughes, 25, returned to the Australian Test side after an 18-month
  absence and was supposed to replace Michael Clarke, the injured Australia
  captain in the first Test next week against India.
• ·        
  In his honor, his jersey number 64 has been retired.
• ·        
  On 11 January 2013, he became the first Australian batsman in the
  history of ODI cricket to score a century on debut.

• ·        
  Boxer Manoj Kumar on 26 November 2014 received the prestigious Arjuna
  Award. The 2010 Commonwealth Games gold-medalist was given the award by Union
  Sports Minister Sarbananda Sonowal at a function in New Delhi.
• ·        
  Earlier, Manoj was denied the award by the Kapil Dev-led selection
  committee, as it believed that he was involved in a doping case. The committee
  recommended name of another boxer Jai Bhagwan for the coveted honour.
• ·        
  After being denied the coveted medal, Manoj had approached the Sports
  Ministry. After being snubbed for a second time in the review meeting, Manoj
  took the legal route and filed a case in the Delhi High Court. He won the case
  which led to the Ministry accepting his nomination for the award.

• ·        
  Indian Cyclist Deborah on 23 November 2014 won four gold medals at the
  Track Asia Cup Cycling Championship 2014. The Track Asia Cup Cycling
  Championship was held from 21 to 23 November 2014 at Indira Gandhi Stadium, New
  Delhi.
• ·        
  Deborah won two gold medals – in the women’s elite keirin (8 laps) and
  sprint finals (3 laps) – on the concluding day of the championship for an
  overall individual tally of four gold medals.
• ·        
  Earlier, Deborah had won a combined gold with Kezia Varghese in the team
  sprint final on 22 November 2014. She won the 500 metre time trial gold in
  women’s elite section on the opening day of the Track Asia Cup 2014.
• ·        
  Apart from this, in the championship India finished with medal tally of
  total 18 medals (5 Gold, 4 Silver and 9 Bronze).