UPDATE `apptidudeques1` SET `createdTime`='1529595853' WHERE `id`='61'UPDATE command denied to user 'bankersalgo'@'182.50.130.124' for table 'apptidudeques1' Current News Shots September 15 -22 2013| Banker's Algo
Email Changed Successfully
Incorrect Password
Your Query Submit Successfully
Please Change Your Password Click Here
Password Changed Successfully
Profile Changed Successfully
Form Submitted Successfully
Username or Password is incorrect
Reset Password Mail Send Successfully.
Email you have entered doesn't exist.
Password Changed. Now Login.
Password Not Reset Please Try Again.
Link Expired Please Try Again
Test completed and result have been mailed to your email Id
You are successfully registerd please check your mail for login credentials.

Current News Shots September 15 -22, 2013



DEFENCE

India and Krgyzstan Defence Relation
India and Kyrgyzstan have bilateral relation.
Areas: 

  • Training
  • UN peacekeeping
  • Defense Industry.

Meeting Persons: Defense Minister A K Antony and Kyrgyzstan Defense Minister Taalaibek Omuraliev Venue: India
Indo-Kyrgyzstan relations:
India has traditionally warm and friendly political ties with the Kyrgyz Republic.
Support from Kyrgyzstan: Backed India’s stand on Kashmir and have welcomed the ongoing peace process. for permanent seat at the United Nations Security Council and India’s role in the Shanghai Cooperation Organization (SCO).
Indo-Kyrgyz Trade:
Total:
US$23.56 million in 2010-11.
Export: US$22.56 million
Import: US$1.2M.
Export Items: Apparel and clothing, leather goods, drugs and pharmaceuticals, fine chemicals, and tea are some of the important items in India’s export basket to Kyrgyzstan.
Import Items: Raw hides, metalifers ores and metal scrap etc.

ECONOMIC BUSINESS AND FINANCE

India to build world's largest solar power plant in Rajasthan
The government has begun the process of building 4,000 MW ultra mega green solar power project near Sambhar lake in Rajasthan. The project which has been named as Sambhar Ultra Mega Green Solar Power Project is being set under the Department of Heavy Industry (DHI) in the 23,000 acre area of Sambhar Salts Limited (SSL), subsidiary of Hindustan Salts Limited (HSL) located in Rajasthan. It will be the world’s largest solar based power project close to Sambhar Lake and about 75 kilometres from the state capital Jaipur.
First Phase Sambhar Ultra Mega Green Solar Power Project:
In the first phase the project will generate 1,000 MW which will be commissioned in 3 years i.e. by the end of 2016
Partners in the development of the first phase are
BHEL,
Solar Energy Corporation of India,
Power Grid Corporation, 
Satluj Jal Vidyut Nigam 
Rajasthan Electronics and Instruments Ltd.

CCEA approves outlay of Rs 12,350 crore for National Food Security Mission in 12th Plan
To meet the growing food demand, Cabinet Committee on Economic Affairs (CCEA) approved an allocation of Rs 12,350 crore for boosting foodgrains production by 25 million tonnes under the National Food Security Mission during the 12th Five Year Plan.
The National Food Security Mission (NFSM) was launched in 2007-08 with an outlay of Rs 4,882.48 crore for the 11th Five Year Plan (2007-12) and succeeded in meeting its objective of raising foodgrains output by 20 million tonnes (MT).
Under the NFSM, rice output would be raised by 10 MT, wheat by 8 MT, pulses by 4 MT and coarse cereals by 3 MT during the 12th Plan.

RBI cuts daily CRR requirement to 95%
Reserve Bank of India Governor Raghuram Rajan cut the percentage of cash reserve ratio (CRR) that banks must maintain with the central bank daily to 95% from 99%, but rejected bankers' contention that maintaining a high balance was a major cost for them.

‘Eklavya Model Residential Schools Scheme’ for ST students
Govt. of India has approved a total of 158 Eklavya Model Residential Schools (EMRSs) for Tribal students out of grants under Article 275(1) of the Constitution of India in 23 states out of which 111 schools have become fully functional with all facilities. Gujarat has been sanctioned 22 schools which is the highest for any state followed by Madhya Pradesh (20) and Rajasthan (17). Chhattisgarh and Odisha have been sanctioned 16 schools each.
All the facilities for a proper study environment like adequate number of class rooms, computer and science laboratory, library, recreation room, hostels for students and housing facilities for the teaching and other supporting staff are made available in the EMRSs.
Further, the school buildings have been made accessible to students with disabilities.

Objectives:

  1. The objective of EMRS is to provide quality middle and high level education to Scheduled Tribe (ST) students in remote areas, not only to enable them to avail of reservation in high and professional educational courses and as jobs in government and public and private sectors but also to have access to the best opportunities in education at par with the non ST population. This would be achieved by: 
  2. Comprehensive physical, mental and socially relevant development of all students enrolled in each and every EMRS. Students will be empowered to be change agent, beginning in their school, in their homes, in their village and finally in a larger context.
  3. Focus differentially on the educational support to be made available to those in Standards XI and XII, and those in standards VI to X, so that their distinctive needs can be met.
  4. Support the annual running expenses in a manner that offers reasonable remuneration to the staff and upkeep of the facilities.
  5. Support the construction of infrastructure that provides education, physical, environmental and cultural needs of student life.

RBI hikes repo rate by 25 basis points to 7.5%
In a surprising move, the Reserve Bank of India Governor Raghuram Rajan, in his maiden mid-quarter monetary policy review, hiked the short-term lending (repo) rate to 7.5%, seeking to control inflation. The Cash Reserve Ratio (CRR) was left untouched at 4%.
To ease liquidity, the Marginal Standing Facility (MSF) rate, at which banks borrow from the RBI, was reduced to 9.5% from 10.25% and the minimum daily maintenance of the CRR was lowered to 95%.
In reaction to RBI’s decision the rupee slipped 46 paise to close at 62.23 against the dollar in line with a sharp decline in local stocks.
RBI Governor Raghuram Rajan has made his stance clear that RBI wants lower inflation and aims to curb it to 5% mark.

Tata Sons and Singapore Airlines to set up new full-service airline
Tata Sons — the founders of Air India — announced it has tied up with Singapore Airlines to launch a new full-service airline in India which will initially fly on domestic routes and then head overseas too.
This new joint venture comes on the heels of Tata's partnership with Malaysian low cost carrier AirAsia under which they will launch a budget airline here possibly before the year-end.
"Tata Sons and Singapore Airlines have signed a memorandum of understanding (MoU) and applied for Foreign Investment Promotion Board (FIPB) approval to establish a new airline in India that will help further stimulate demand for air travel.... the airline will be based in New Delhi and will operate under the full-service model. Tata Sons will own 51% and Singapore Airlines will own 49%," according to a statement jointly issued.

RBI invites bids to implement global Legal Entity Identifier system
In order to have a better control on financial transactions, such as equity and currency derivatives, the Reserve Bank of India has invited limited bids from about six entities, including depositories, depository participants and custodians, to issue unique identification codes to market participants.
The RBI will select one or two entities to assign them the responsibility of implementing a global Legal Entity Identifier (LEI) system that will uniquely identify parties to financial transactions.

FDI in Multi-Brand trading has been modified
New states to implement FDI in Multi-Brand trading
Himachal Pradesh and Karnataka.
Number of states with FDI consent: 12
Norms for multi-brand retail trading have been relaxed and the mandatory 30% local sourcing norms for companies have also been eased.
New Changes:
FDI in insurance stands at 26%.
The cap in telecom enhanced to 100% with automatic route allowed for FDI of up to 49%.

WORLD

China released first deep ultraviolet solid state laser device
Feat:
First country to possess Deep Ultraviolet (DUV) solid-state laser device.
Launching: By the Chinese Academy of Sciences (CAS) after its successful testing.
The device marks the world’s first-ever output of 1,064-nanometer’s 6-harmonic frequency multiplication, shortening the diode-pumped solid-state laser (DPL)’s wavelength to 177.3nm.

Japan launched new cheaper rocket missile: Epsilon
Japan’s Aerospace Exploration Agency or JAXA successfully launched a new rocket named Epsilon which is cheaper.
About Epsilon:
Japan’s three-stage rocket which uses solid-fuel propellant
Launching: Space center on Japan’s southern main island of Kyushu
Main Payload: SPRINT—A – First space telescope designed to observe other planets.
It is the first new rocket design for Japan since the H2A was introduced in 2001. The H2A remains Japan’s primary rocket but JAXA hopes the Epsilon will lead to improvements in the more costly H2A program.
Costing: It costs about 3.8 billion yen ($40 million), one-third the cost of the H2A

AWARDS HONOURS AND APPOINTMENTS

Nina Davuluri : First Indian American to become Miss America

Nina Davuluri has become the first winner of the Miss America 2014 from an Indian background. Previously, she won Miss New York 2013.
Nina Davuluri was born in Syracuse, New York to Telugu parents of Hindu faith. Her mother Sheila Ranjani, software engineer, and father Davuluri Koteshwara Choudhary, gynecologist, both hailed originally from Vijayawada, Andhra Pradesh, India.
Nina Davuluri (born April 20, 1989) is an American beauty pageant titleholder who was named Miss Michigan's Outstanding Teen 2006, Miss Syracuse 2013, Miss New York 2013, and Miss America 2014. She is the first Indian American to be chosen as Miss America and the second Asian American after Filipino American Angela Perez Baraquio (Miss America 2001)

 

SPORTS

Mohammedan Sporting create history, win Durand Cup after 73 years
Kolkata giants Mohammedan Sporting created history by winning the prestigious Durand Cup Football tournament after a gap of 73 years, defeating ONGC 2-1 in the 126th edition of the tournament played at the Ambedkar Stadium final in New Delhi.
The Durand Cup:
The inaugural Durand Football Tournament was held at Simla in the year 1888 by Sir Henry Mortimer Durand, who was then, the Foreign Secretary to Government of India. Durand is the third oldest football tournament in the world and oldest in Asia and India.

Bo Xilai sentenced to life in prison
Fallen Chinese political star Bo Xilai was sentenced by a court to life in prison, following a sensational scandal that culminated in the country's highest-profile trial in decades.
The sentence was announced by the Jinan Intermediate People's Court on its verified page on Sina Weibo, a Chinese equivalent of Twitter. Bo, one of China's top 25 politicians before his dramatic downfall, was convicted of bribery, embezzlement and abuse of power


Economic Glossary Tag Cloud

POST AND SHARE YOUR OPINION

News Updates

08 Nov

Current News Shots October 29 - 31, 2013:

NGO the Harmony Foundation honored former Miss Universe Sushmita Sen with the Mother Teresa Memorial International Award...

Read more
31 Oct

Current News Shots October 22 - 30, 2013:

New York City Mayor Michael R. Bloomberg has been selected for the inaugural Genesis Prize – an award popularly dubbed...

Read more
22 Oct

Current Affairs News Shot October 19 - 21, 2013:

Zojila tunnel along with another 6.5 km long tunnel at Z-Morh in Sonmarg will provide road connectivity to Ladak and Sri...

Read more
20 Oct

Current News Shots October 11 - 18, 2013:

SEBI Proposes Overhaul of FII Entry Norms and Securities Buyback Framework SEBI has in its recent board meeting inter a...

Read more
20 Oct

Current News Shots October 01 - 10, 2013:

Exports fared slightly better than previous year. It declined 1.5 percent to USD 73.9 billion in Q1 of 2013-14 as compar...

Read more
20 Oct

Current News Shots September 23 - 30, 2013:

World Tourism Day was observed on September 27, 2013 across the globe to raise awareness about the importance of tourism...

Read more
19 Oct

Current News Shots September 15 -22, 2013:

Govt. of India has approved a total of 158 Eklavya Model Residential Schools (EMRSs) for Tribal students out of grants u...

Read more
30 Sep

Current News Shots Sept 07 -14 2013:

In the backdrop of growing currency demands, the RBI, in a notification, asked banks to explore the possibility of distr...

Read more
22 Sep

The IONS Operational Seminar and Preparatory Workshop – 2013 - Mumbai :

Dr C Raja Mohan, distinguished fellow at the Observer Research Foundation, highlighted three important imperatives deman...

Read more
19 Sep

Current Affairs News Shot September 01 - 07 2013:

The Lok Sabha passed the long-awaited Land Acquisition, Rehabilitation and Resettlement Bill which seeks to replace the ...

Read more
View All News

Copyright © 2014 bankersalgo.com

All rights reserved