Finance
1. RBI keeps key rate
unchanged
unchanged
- ·
As widely expected, the Reserve Bank of India
(RBI) had kept the policy repo rate under the liquidity adjustment facility
(LAF) unchanged at 8.0 per cent. - ·
Also, it has decided to keep the cash reserve
ratio (CRR) of scheduled banks unchanged at 4.0 per cent of net demand and time
liabilities (NDTL). - ·
However, it has reduced the liquidity
provided under the export credit refinance (ECR) facility from 32 per cent of
eligible export credit outstanding to 15 per cent with effect from October 10. - ·
The RBI has said that it will continue to
provide liquidity under overnight repos at 0.25 per cent of bank-wise NDTL at
the LAF repo rate, and liquidity under 7-day and 14-day term repos of up to
0.75 per cent of NDTL of the banking system through auctions.
2. Fiscal deficit for
five months at 75% of Budget estimate
five months at 75% of Budget estimate
- ·
The fiscal deficit for the first five months
of 2014-15 is 75 per cent of the Government’s Budget estimate. - ·
This trend is similar to what was seen in the
corresponding period of last fiscal. - ·
According to the latest data of the
Controller General of Accounts, fiscal deficit during the April-August period
reached Rs. 3.97 lakh crore, nearly 75 per cent of the budget estimate of Rs. 5.31
lakh crore.
3. Accept self-attested
documents to open account: RBI to banks
documents to open account: RBI to banks
- ·
The Reserve Bank today relaxed ‘know your
customer’ norms by allowing self-certification of documents needed for opening
bank accounts. - ·
“With a view to easing difficulties
faced by common persons while opening bank accounts and during periodic
updating, guidelines on KYC will be further simplified with immediate
effect,” the central bank said in its monetary policy statement. - ·
RBI has asked banks to “allow
self-certification; accept a certified copy of the document by mail/post”
for account opening. - ·
Banks have also been asked not to seek fresh
documents if an existing KYC compliant customer of a bank desires to open
another account in the bank. - ·
For periodic updating of KYC, the RBI told
the banks not “insist on physical presence of the customer” and also
not seek fresh proof of identity and address in case of no change in status for
‘low risk’ customers. - ·
The Reserve Bank further said there is a need
for banks to complete KYC for all customers including long standing ‘low risk’
customers. - ·
“Banks should complete documentation,
while minimising the effort on the part of the customer to what is strictly
needed,” it said. - ·
In the event that customers are unable to
comply within a reasonable time period, ‘partial freezing’ may be introduced in
respect of KYC non-compliant customers, RBI added. - ·
This means credits would be allowed in such
accounts while debits would not be allowed, with an option to the account
holder to close the account and take back the money in the account.
India
4. President Pranab Mukherjee
authorised Vigilance Commissioner Rajiv to act as CVC
authorised Vigilance Commissioner Rajiv to act as CVC
- ·
President Pranab Mukherjee on 30 September
2014 authorised Vigilance Commissioner Rajiv to act as chief of Central
Vigilance Commission (CVC) until the appointment of the Central Vigilance Commissioner. - ·
His appointment came with effect from 29
September 2014.
5. AP Govt signs MoUs
with Google India
with Google India
- ·
The new Andhra Pradesh will grow as fast as
Google and Visakhapatnam will become a IT hub, according to Chief Minister N
Chadrababu Naidu. - ·
He was speaking at a conclave of CEOs from
400 IT companies across the country after signing MoUs with several of them,
including Google India. - ·
Claiming credit for developing Hyderabad as
the foremost IT destination in the country during his tenure as the Chief
Minister of an undivided AP, he said he would achieve the same feat in a much
quicker time in Visakhapatnam with the co-operation of IT companies. - ·
He said Visakhapatnam with its natural
resources and human resources was ideally suited for the development of IT.
Promising co-operation to the IT companies, he invited them to invest in the
State and become partners in its progress. - ·
Rajan Anandan, Country Head, Google India,
said his company would strive to develop Telugu fonts to make the internet popular
in Telugu. It would also strive to bring online one lakh SMEs in the state. It
would be a partner in the programme to digitalise AP. - ·
Gopalakrishnan, co-founder of Infosys, said
he had no doubt that Chandrababu Naidu would be as good as his word in developing
IT sector in the new Andhra Pradesh.
6. India, US agree in
principle to renew defence pact
principle to renew defence pact
- ·
India and US have in principle agreed to
extend their defence agreement for another 10 years which will take forward the
cooperation between the two countries in the crucial area. - ·
Sources in the Department of Defence said,
“we are still negotiating the framework agreement (defence) but have not
finished.” - ·
Pentagon sources said it was “happening“. - ·
The framework agreement, which will expire
next year, was signed here in 2005 by then Defence Minister Pranab Mukherjee
and his US counterpart Donald Rumsfeld. - ·
Earlier, US Defence Secretary Chuck Hagel
called on Prime Minister Narendra Modi here and discussed issues relating to
defence cooperation and combating terrorism. - ·
The pact had laid strong foundations leading
to mutually beneficial defence cooperation between the two countries through
security dialogue, service-level exchanges, defence exercises and defence trade
and technology collaboration.
7. US, India to collaborate
on Mars exploration
on Mars exploration
- ·
India and the U.S., after sending their own
respective spacecraft into Mars’ orbit, have now agreed to cooperate on future
explorations of the Red Planet, which America said will yield “tangible
benefits” to both the countries and the world at large. - ·
The agreement in this regard was signed by
NASA Administrator Charles Bolden and K. Radhakrishnan, Chairman of the Indian
Space Research Organization (ISRO) in Toronto on Tuesday on the sidelines of
the International Astronautical Congress. - ·
The two sides signed a charter that
establishes a NASA-ISRO Mars Working Group to investigate enhanced cooperation
between the two countries in Mars exploration. - ·
They also signed an international agreement
that defines how the two agencies will work together on the NASA-ISRO Synthetic
Aperture Radar (NISAR) mission, targeted to launch in 2020. - ·
“The signing of these two documents reflects
the strong commitment NASA and ISRO have to advancing science and improving
life on Earth,” said NASA Administrator Charles Bolden.
8. First offshore wind
power project to come up in Gujarat
power project to come up in Gujarat
- ·
The Ministry of New and Renewable Energy
(MNRE) Wednesday said it has signed a memorandum of understanding to form a
joint venture (JV) company for setting up a 100 MW offshore wind power project
off the Gujarat coast. - ·
The MoU was signed between MNRE, National
Institute of Wind Energy and a consortium of partners consisting of NTPC, Power
Grid Corp, Indian Renewable Energy Development Agency, Power Finance Corp,
Power Trading Corp and Gujarat Power Corporation Ltd. - ·
“Considering the country’s 7,600 km coast
line, opportunities for scaling up offshore wind power projects are humongous,”
said Power and MNRE Minister Piyush Goyal, who was present on the occasion. - ·
Prime Minister Narendra Modi’s message in the
US was loud and clear that renewable energy is the way to go, Goyal said. - ·
“It dovetails the world’s concerns about
climate change and it clearly enhances India’s energy security,” he added. - ·
The minister also suggested building
partnerships with defence, coast guard and shipping to ensure seamless and time
bound approval process.
9. India and the US
issued Vision Statement to boost strategic ties
issued Vision Statement to boost strategic ties
- ·
India and the United States issued Vision
Statement to boost strategic ties on 29 September 2014. The Vision Statement
titled Chalein Saath-Saath: Forward Together We Go was issued after Indian
Prime Minister Narendra Modi met US President Barack Obama at the dinner at
White House in Washington DC. - ·
The joint statement sought to expand and
deepen the strategic partnership between the largest and oldest democracies in
the world for the benefit of not only the two nations but also for the benefit
of the world.
Main Highlights of the
Vision Statement
Vision Statement
- ·
Both the countries would cooperate in
security and fight terrorism - ·
It called for an inclusive rule based global
order in which India will assume greater multilateral responsibility, including
a reformed United Nations Security Council (UNSC). - ·
Both the countries also determined to work
together to tackle the threat of climate change - ·
The two countries also committed to cooperate
to address the consequences of unchecked pollution through cooperation among
governments, science and academic communities of both the nations. - ·
Both the countries will partner to ensure
that they have affordable, clean, reliable, and diverse sources of energy,
including efforts to bring American-origin nuclear power technologies to India. - ·
Two countries would also work to ensure that
economic growth brought better livelihoods for all people. - ·
The vision statement also stressed the
importance of open markets and fair and transparent practices to allow trade to
flourish.
10. Union Government
approved six STPIs for Odisha
approved six STPIs for Odisha
- ·
Union government on 30 September 2014
accorded in-principle approval for setting up six more Software Technology
Parks of India (STPIs) in Odisha. With this the number of such parks in the
state will go up to 10. - ·
These six STPIs will be developed at Jaypore
in Koraput district, Sambalpur, Jajpur, Angul, Rayagada and Bhawanipatna in
Kalahandi. The four existing STPIs are at Bhubaneswar, Rourkela, Brahmapur and
Balasore.
11. Indo-US Combined
military exercise Yudh Abhyas 2014 concluded in Uttarakhand
military exercise Yudh Abhyas 2014 concluded in Uttarakhand
- ·
The India-US Combined Military Training
Exercise Yudh Abhyas 2014 concluded at Ranikhet in Uttarakhand on 30 September
2014. The Yudh Abhyas 2014 started on 17 September 2014. - ·
It was the tenth exercise in the Yudh Abhyas
series that started in 2004 under US Army Pacific partnership program. Yudh
Abhyas 2014, a part of bilateral defence cooperation, aimed at sharing of
ideas, concepts and learning from each other’s experiences. - ·
During the 14-day exercise, the troops of
Mountain Brigade of Indian Army and Company and Brigade Headquarter of the US
Army cooperated to strengthen and broaden inter-operability and cooperation
between armies of the US and India. - ·
It also featured training, planning and
executing a series of tactical drills by contingents for neutralizing possible
threats. It also focused on
counter-insurgency and counter-terrorism operations in mountainous terrain and
in United Nations mandated operations.
12. Narendra Modi
announced Lifetime visas for PIOs
announced Lifetime visas for PIOs
- ·
Modi promised that that Persons of Indian
Origin (PIO) cardholders will get lifetime Indian visa and that American
tourists will be given visa on arrival. - ·
Modi announced the merger of PIO and Overseas
Citizens of India schemes to facilitate hassle-free travel to the Indian
diaspora. - ·
He announced that PIO card holders staying in
India on long-term basis will no longer have to report to the local police
station.
13. Barack Obama,
Narendra Modi establish Contact Group to expedite Indo-US nuke deal
implementation
Narendra Modi establish Contact Group to expedite Indo-US nuke deal
implementation
- ·
With their landmark 2005 civil nuclear deal
still in limbo, India and the US have established an inter-agency Contact Group
to sort out outstanding liability and technical issues to fast-track its full
implementation. - ·
Prime Minister Narendra Modi and US President
Barack Obama while taking note of the delay reaffirmed their commitment to
“implement fully” the US-India civil nuclear cooperation agreement
that would facilitate installation of American-origin nuclear reactors in
India. - ·
From the Indian side, the inter-agency
Contact Group will have representatives from Department of Atomic Energy,
Ministry of External Affairs and Finance Ministry. - ·
After summit talks with Obama, Modi said both
sides are serious about resolving at the earliest issues blocking the
implementation of the civil nuclear deal.
14. Gandhi’s
autobiography to be released in Punjabi, Kashmiri
autobiography to be released in Punjabi, Kashmiri
- ·
Mahatma Gandhi’s autobiography ‘The Story of
My Experiments with Truth’ has now been published in Kashmiri and Punjabi
languages also and the editions would be released on his birth anniversary
tomorrow. - ·
“Tomorrow on 145th birthday of Mahatma
Gandhi, we will release Kashmiri and Punjabi versions of his autobiography ‘The
Story of My Experiments with Truth’,” said Vivek Desai, managing trustee
of Navjivan Trust, founded by Gandhi in 1929. - ·
With this, the Father of the Nation’s
autobiography will be available in 17 major languages of the country. The book
is available so far in Gujarati, English, Hindi, Marathi, Telugu, Tamil,
Kannada, Urdu, Bengali, Malayalam, Assamese, Oriya, Manipuri, Sanskrit and
Konkani languages. - ·
On the objective behind releasing the book in
two more languages, Desai said the trust wants to make Gandhi’s autobiography
and his ideas available to more and more people.
International
15. Afghanistan signed
Bilateral Security Agreement with the US
Bilateral Security Agreement with the US
- ·
Afghanistan on 30 September 2014 signed
Bilateral Security Agreement (BSA) with the US with an aim to allow some US
troops to remain in the country till 2015. - ·
National Security Adviser of Afghanistan
Mohammad Hanif Atmar and US Ambassador James Cunningham signed BSA at the
presidential palace of Afghanistan in Kabul. - ·
Signing of the BSA was the first act of the
new government in Afghanistan headed by President Ashraf Ghani who was sworn-in
on 29 September 2014.
Main highlights of
Bilateral Security Arrangement (BSA)
Bilateral Security Arrangement (BSA)
•
12000 foreign military personnel to stay
after December 2014 when the combat mission of Afghanistan’s US-led NATO force
ends.
12000 foreign military personnel to stay
after December 2014 when the combat mission of Afghanistan’s US-led NATO force
ends.
•
Out of this 10000 US soldiers will remain in
Afghanistan when the combat mission of North Atlantic Treaty Organisation
(NATO) will end in December 2014.
Out of this 10000 US soldiers will remain in
Afghanistan when the combat mission of North Atlantic Treaty Organisation
(NATO) will end in December 2014.
•
The troops will continue training, advising
and equipping Afghan soldiers and police, and to carry out counter-terrorism
operations.
The troops will continue training, advising
and equipping Afghan soldiers and police, and to carry out counter-terrorism
operations.
16. Google social
network site–Orkut closed
network site–Orkut closed
- ·
Google closed the social networking site
Orkut permanently on 30 September 2014. Google announced the decision to shut
down Orkut in June 2014. - ·
Old users of Orkut will be able to take
backup of their pictures and posts till September 2016 and users can export
their profile data, community posts and photos using Google Takeout. But no one
will be able to create new IDs on Orkut account. - ·
Decision of shutting down Orkut was taken as
its competitor social networking sites namely Facebook and Twitter were much
popular than orkut. Now, Google has moved to a new platform – the Google Plus. - ·
Orkut started in 2004 was named after its
creator, Orkut Buyukkokten, a Google employee.
17. US Government
confirms first case of Ebola
confirms first case of Ebola
- ·
The first case of Ebola diagnosed in the U.S.
was confirmed on Tuesday in a patient who recently travelled from Liberia to
Dallas — a sign of the far-reaching impact of the out-of-control epidemic in
West Africa. - ·
The unidentified man was critically ill and
has been in isolation at Texas Health Presbyterian Hospital since Sunday,
federal health officials said. They would not reveal his nationality or age. - ·
Authorities have begun tracking down family
and friends who may have had close contact with him and could be at risk for
becoming ill. But officials said there are no other suspected cases in Texas. - ·
At the Centers for Disease Control and
Prevention, Director Tom Frieden said the man left Liberia on September 19,
arrived the next day to visit relatives and started feeling ill four or five
days later. He said it was not clear how the patient became infected. - ·
There was no risk to any fellow airline
passengers because the man had no symptoms when he was travelling, Mr. Frieden
said. Ebola symptoms can include fever, muscle pain, vomiting and bleeding, and
can appear as long as 21 days after exposure to the virus. The disease is not
contagious until symptoms begin, and it takes close contact with bodily fluids
to spread.
18. Facebook creator
Mark Zuckerberg to visit India this month
Mark Zuckerberg to visit India this month
- ·
Facebook founder Mark Zuckerberg will be
visiting India this month, and is most likely to meet Prime Minister Narendra
Modi, who himself is an avid user of the social networking site. - ·
Mr. Zuckerberg, the second high-profile
executive from Facebook to visit India after Sheryl Sandberg, will be in India
to address the first Internet.org summit taking place on October 9-10 here. - ·
Facebook had last year announced the launch
of Internet.org, a global partnership with six other technology giants-
Ericsson, MediaTek, Nokia, Opera, Qualcomm and Samsung. The project aims to
make Internet access available to the next five billion people who are not
online yet. - ·
He is expected to discuss with the Prime
Minister ways in which the government and the social networking giant can
collaborate on Internet.org. - ·
One of the youngest billionaires in the
world, Mr. Zuckerberg is expected to meet other senior ministers as well. - ·
Mr. Zuckerberg’s visit to India, the second
biggest market for the social networking giant, will mark the third visit by
high-profile CEO of U.S.-based corporations to the country in a fortnight,
after Amazon founder Jeff Bezos and Microsoft CEO Satya Nadella.
Sports
19. Sarita faces AIBA
suspension after returning medal
suspension after returning medal
- ·
A huge controversy broke out on Wednesday at
the Asian Games when India’s woman boxer Sarita Devi returned her bronze medal,
protesting against her controversial loss to a South Korean, inviting a possible
suspension for defiance. - ·
Sarita, who was declared a loser despite
dominating the 60kg semifinal bout against home favourite Jina Park, was today
inconsolable on the podium and was crying bitterly as she stunned the officials
and spectators by refusing to accept the bronze medal, which is now in the
custody of organisers. - ·
The boxer was in disbelief yesterday when she
lost to Park, who ended up as the silver-medallist. Sarita was clearly the
better of the two pugilists but the judges thought otherwise. - ·
Left in the lurch by the accompanying IOA
officials, she managed to collect $500, including with the help of a journalist
and Mary Kom’s husband, to lodge an appeal against the verdict but lost. - ·
The former Asian and world champion then left
the ceremony. Park, visibly rattled by the turn of events, left the medal on
the podium and made her exit.
20. MC Mary Kom bagged
her first Asian Games Gold Medal
her first Asian Games Gold Medal
- ·
Legendary Indian boxer MC Mary Kom on 1
October 2014 bagged her first ever Asian Games Gold Medal. She defeated Zhaina
Shekerbekova of Kazakhstan in the finals of the women’s flyweight category
(48-51kg) at the 17th Asian Games in Incheon. - ·
She became the first Indian woman boxer to
clinch a gold medal at the Asian Games. This is the seventh gold for India at
Incheon games.
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This post was last modified on November 27, 2017 9:04 am