Home Daily Updates IMPORTANT CURRENT AFFAIRS & DAILY NEWS UPDATES : 01 -FEBRUARY - 2016
IMPORTANT CURRENT AFFAIRS & DAILY NEWS UPDATES : 01 -FEBRUARY - 2016
Monday, 01 February 2016 05:41

 

DAILY NEWS UPDATES

01 -FEBRUARY - 2016

 

 

INDIA WON BLIND T20 ASIA CUP

India won the first T20 Asia cup cricket for Blind. In the final clash played at Jawaharlal Nehru stadium of Kochi, India defeated Pakistan by 44 runs.

Batting first, India scored 208 runs in 20 over whereas Pakistan was restricted to 164 runs in 18.2 over.

So far, Pakistan was unbeaten in this tournament and had defeated India by 19 runs in the group stages.

INDIA’S LARGEST FLAG WITH TALLEST FLAGPOLE HOISTED AT RANCHI

Defence Minister Manohar Parrikar hoisted the largest flag of the country atop the tallest pole at Pahari Mandir in Ranchi, Jharkhand.

The flag is 66 feet in height, 99 feet in width and hoisted on a 293 feet-tall pole.

The flag is crafted from parachute cloth and has enough clippings to ensure strong winds do not blow it away. The mast sits on around nine feet diameter pedestal fitted with rock anchors.

The project took more than 120 workers and 40 days to put up the flag post, which cost an estimated 1.25 crore rupees, of which 44 lakh rupees was spent on the flag alone.

The flag surpassed the previous record set by the 96 feet x 64 feet tricolour hoisted in Faridabad in 2015 on a 250 feet-high pole. This flag was unveiled to mark the National Defence Day.

Historical significance of the flag’s site

The flagpost is situated at the Pahari temple, located atop the 250-foot-high Pahadi Hill in the heart of Ranchi.

The site was earlier known as Phansi Tongri.

It was where freedom fighters were hung by the British during the independence movement.

Locals hoist the national flag there every January 26 and August 15 in tribute to the slain martyrs.

 

PV SINDHU WON MALAYSIA MASTERS GRAND PRIX GOLD BADMINTON TITLE

India's Ace Shuttler, PV Sindhu won the Malaysia Masters Grand Prix Gold Badminton title. In the final clash at Penang, she defeated Scotland's Kirsty Gilmour 21-15, 21-9.

This was Sindhu’s second Malaysia Masters Grand Prix Gold title, having won it in 2013 as well.

With this, Sindhu has won five career Grand prix gold and first title of the year 2016.  She also completed a hat-trick at the Macau Open Grand Prix Gold in November 2015.

Only two women's singles players (Saina Nehwal and Sung Ji-hyun) have more GP Gold title's than Sindhu.

Appreciating PV Sindhu for winning the Malaysia Masters Grand Prix Gold title, the Badminton Association of India (BAI) announced a cash award of 5 lakh rupees for the shuttler.

 

IZUMO TAKUTO AND ZHU CHENGZHU WON ITTF WORLD JUNIOR CIRCUIT FINALS

Japan's Izumo Takuto and Hong Kong's Zhu Chengzhu became champions in the boys' and girls' categories, respectively, in the 11Even Sports 2015 ITTF World Junior Circuit Finals at the Abhay Prashal Stadium, Indore, Madhya Pradesh.

The three-day event came to its conclusion when Takuto hardly dropped a sweat beating Carlos Vedriel from Spain 4-0 in a one-sided final while Zhu overcame stiff resistance to beat Park Seri of Korea 4-2.

Each winner took home 3800 US dollars while the runners-up received 2100 US dollars each.

About International Table Tennis Federation (ITTF)

The International Table Tennis Federation is the governing body for all international table tennis associations.

The role of the ITTF includes overseeing rules and regulations and seeking technological improvement for the sport of table tennis.

The ITTF is responsible for the organization of numerous international competitions, including the World Junior Circuit and the World Table Tennis Championships that has continued since 1926.

 

6TH NATIONAL VOTERS’ DAY OBSERVED WITH THEME INCLUSIVE AND QUALITATIVE PARTICIPATION

25 January: National Voters’ Day (NVD)

6th National Voters’ Day (NVD) was observed across the country by the Election Commission of India. The theme for the 6th National Voters’ Day is ‘Inclusive and Qualitative Participation’.

The Commission’s objective through NVD is to increase enrolment of voters, especially of the newly eligible ones.

The National function of the NVD was held in New Delhi and presided over by President of India, Pranab Mukherjee.

On the occasion, the Chief Election Commissioner Dr. Nasim Zaidi also released a book titled, ‘Belief in the Ballot’ and presented it’s the first copy to the President.

To celebrate and recognise the contribution of Government department/Agencies to the efforts of ECI for enhancing electoral participation, the election commission has introduced awards. Six newly eligible electors were given their EPICs by President of India.

The awards were given away to

Indicator

Name of Offficers

Designation

For Innovation

Sanjay Kumar Agarwal

DEO, Gaya

Balamurugan D

DEO, Purnea

For SVEEP

Lokesh Kumar Singh

DEO, West Champaran

Aboobacker Siddique

DEO West SinghBhum

Shirish Mohod

Nodal Officer, Maharashtra

Shekhar Channe

Maharashtra

For Electoral Roll Management

Antara Acharya

DEO MEdnipur

For Security Management

Manu Maharaaj

SSP Gaya

Sharat Kumar Sinha

DCP, Delhi

Best State Award

Ajay Nayak,

CEO BIhar

Thiru. Rajesh Lakhoni,

CEO Tamil Nadu

Chandra Bhushan  Kumar,

CEO Delhi

National Award for Govt. Dept/Agency

Arvind Kumar Chaudhary, Secretary, Rural Development

Jeevika, Bihar

Anish Mankad

Gujarat Education Dept.

Vasumitra, Chief Postmaster General

Department of Posts

National CSO Award

Lalbiakzuala

Lalmachhuana ion

Young Mizo Association

National Media Award

Hindustan, Bihar edition

25 January is the foundation day of the Commission, which came into being on this day in 1950.

The National Voters’ Day is also utilised to spread awareness among voters regarding effective participation in the electoral process.

After the completion of the NVD National function, the Commission inaugurated the construction of India International Institute of Democracy and Election Management (IIIDEM) campus at sector-22 Dwarka, New Delhi.

Election Commission of India will be presenting a Tableau with the theme ‘Inclusive and Qualitative Participation’ at the Republic Day parade on 26 January at Rajpath, New Delhi.

 

ONGC RECEIVED ENVIRONMENTAL NOD FOR 53000 CRORE RUPEES KG BASIN PROJECT

Oil and Natural Gas Corporation (ONGC) received environmental clearance from the Ministry of Environment and Forests for drilling 45 developed wells in the Krishna Godavari (KG) basin in Andhra Pradesh. The total cost of the project is estimated at 53000 crore rupees.

ONGC is planning to drill 45 development wells and set up a Floating Production Storage and Offloading (FPSO) facility, among others. The project will be implemented in the northern discovery area of NELP-I offshore block KG-DW N-98/2.

It is expected that the proposed development drilling and subsequent development of fields will lead to production of 51.33 billion cubic meters of gas over a period of 16 years and 26.71 million cubic meters of oil in 12 years.

Among specific conditions, ONGC has been asked to obtain:

• Coastal Regulation Zone (CRZ) clearance

• Approval from Directorate General of Shipping for commencement of drilling

ONGC has also been asked to comply with all recommendations and conditions specified by Andhra Pradesh Coastal Zone Management Authority. It has also been asked to use high efficiency diesel generator sets, adopt conservation measures to protect marine life and develop waste minimisation plan, among others.

About proposed project

The proposed project will be implemented in the northern discovery area of NELP-I offshore block KG-DW N-98/2.

The block is divided into Northern Discovery Area (NDA) having deep waters with depth of up to 1800 meters and the other one is Southern Discovery Area (SDA) which has ultra-deep waters having depth of up to 3100 meters.

NDA has two clusters: Cluster 1 predominately has gas, and Cluster 2 holds a mixture of oil and gas.

As per the proposal, the gas will be evacuated from Cluster 1 through dual subsea pipelines connecting to the fixed platform. From this platform, de-hydrated gas will be transferred to already existing onland terminal at Odalarevu, East Godavari district, by subsea pipeline. This pipeline will be connected directly to GAIL custody transfer point.

From Cluster 2, the hydrocarbon fluids will be taken to an FPSO facility through dual subseas pipeline. The stablised crude oil will be transported through sea tankers and compressed and dehydrated gas will be evacuated on to fixed platform from FPSO to Odalarevu Onshore Terminal through dual subsea pipeline reaching the onland terminal to GAIL for custody transfer.

About Krishna Godavari Basin

Krishna-Godavari Basin is a peri-cratonic passive margin basin in India.

It is spread across more than 50000 square kilometres in the Krishna River and Godavari River basins in Andhra Pradesh.

The site is known for the D-6 block where Reliance Industries discovered the biggest natural gas reserves in India in 2002.

 

19TH NATIONAL E-GOVERNANCE CONFERENCE CONCLUDED AT NAGPUR

The two-day long 19th National e-governance Conference with the titleTransforming India was concluded in Nagpur, Maharashtra.

It is conference on e-Governance which provides a platform to policy makers, practitioners, industry leaders and academia, to deliberate, interact and recommend actionable strategies.

The 19th National conference was focused on strategies like GATI-Governance with Accountability Transparency & Innovation for citizen -centric services, financial inclusion-JAM & DBT, Urban Governance in smart cities plenary, Cyber security framework for citizen centric, decade of eGovernance-Way ahead, and Technology enabled education.

It is being jointly organized by the department of Administrative Reforms and Public Grievances (DARPG) under Union Ministry of Personnel, Public Grievances and Pensions and Department of Electronics and Information Technology (DeitY) every year in partnership with one State Government since 1997.

During Valedictory function of the conference, The Chief Minister of Maharashtra, Devendra Fadnavis honored 18 winners of national-e-governance awards in 12 categories for their outstanding achievement in the field of e-governance.

 

INDIA-FRANCE INKED 16 PACTS INCLUDING CHOPPER VENTURE

India and France inked 16 agreements at the India-France Business Summit in Chandigarh. The Memorandum of Understanding (MoUs) covered a wide range of sectors like urban development, urban transport, water and waste treatment and solar energy.

The agreements were signed in the presence of Prime Minister Narendra Modi and French President Francois Hollande, who began his three-day visit to India.

Hollande is the Chief Guest at the 67th India’s Republic Day (26 January 2016) celebrations. He is the fifth French leader to be a chief guest at India’s Republic Day celebrations, maximum number from any country so far.

The 16 agreements include

• MoU between AFD and Maharashtra on technical cooperation in the field of sustainable urban development for development of smart city in Nagpur.

• MoU between AFD and the Union Territory of Chandigarh on technical cooperation in the field of sustainable urban development for development of smart city in Chandigarh.

• MoU between AFD and the Union Territory of Puducherry on technical cooperation in the field of sustainable development for development of smart city in Puducherry.

• Wind Power Development Agreement between EDF JV with SITAC RE India to jointly explore opportunities for development of wind based power project in India.

• MOU between EPI ltd – Dassault Systèmes in urban sector development.

• MOU between EPI-Egis - urban sector development.

• MOU between EPI- Schneider Electric - urban sector development.

• MOU between EPI-Thales - urban sector development.

• MOU between EPI-EDF - urban sector development.

• MOU between EPI-Alstom - urban sector development.

• MOU between EPI-SA CAN - urban sector development.

• MOU between EPI-Lumiplan ITS India Pvt Ltd - urban sector development.

• MOU between EPI-POMA - urban sector development.

• Agreement between CEA (the French Alternative Energies and Atomic Energy Commission) and Green Ventures – Solar photo voltaic projects in the Indian rural areas (Varanasi, U.P.).

• Agreement between CEA (the French Alternative Energies and Atomic Energy Commission) and Crompton Greaves - To explore opportunities in Solar Photo Voltaic (PV) System with storage function for Indian Airports.

• Mahindra-Airbus cooperation to create the new private strategic partner for helicopters within the Make in India initiative.

 

NATIONAL E-GOVERNANCE AWARDS 2015-16 CONFERRED

Maharashtra Chief Minister Devendra Fadnavis presented the National Awards for e-Governance for the year 2015-16 in Nagpur. These awards are given for the outstanding achievement in the field of e-governance.

The awards were conferred during the valedictory function of 19th National e-governance conference held in Nagpur on 21-22 January 2016.

Eighteen winners were awarded in 12 categories.

List of some of the winners:

Category

Gold

Silver

Excellence in Government Process Re-engineering

Shri Alex Paul Menon, District Collector, Balrampur, Chhatisgarh, who is the project-head of ‘Chhatisgarh online school monitoring system (COSMOS) Balrampur

The Social Justice Department of Madhya Pradesh for the project ‘SAMAGRA Portal’ – which is an initiative to implement integrated social security programmes.

Outstanding performance in Citizen-Centric Service Delivery

Department of Women & Child Development, Government of West Bengal for its online tracking system for missing children (Track Child)


Innovative Use of Technology in e-Governance

EPFO, (Employment Provident Fund Organization), Delhi under Ministry of Labour and Employment for its successful implementation of universal account number programme

Delhi Police for its lost report application

Innovative use of GIS Technology in e-Governance

Maharashtra Remote Sensing Applications Centre, Nagpur


Innovative Use of ICT by Central Government PSUs

IRCTC’s New Next Generation e-Ticketing System


Use of ICT for Development by Non-Government Institutions

Western Union, Mumbai for its collaboration with India Post for money transfer.


Other award categories included, incremental innovation in existing projects, best district level initiatives in citizen centre service delivery through ICT, innovative use of mobile technology in e-governance.

Besides, sectoral awards in the fields like (Focus Sector for 2015-16: Financial Inclusion), Innovative Use of ICT by State Government PSUs/Cooperatives/Federations/Societies, Outstanding e-Governance initiative by Academic and Research institutions were distributed.

The Paddy Procurement Automation System of Odisha, Village Profile Planning Atlas of Gujarat, Delhi Traffic Police Mobile App, online hotel reservation system of Himachal Tourism were also among the winners of National e-Governance Awards.

 

MAHARASHTRA’S FIRST SOLAR POWER OPERATED MINI-WATER SUPPLY PLANT COMMISSIONED

Maharashtra’s first Solar Power operated Mini-Water Supply Plant was commissioned in Hingna village of Mouda Taluka in Nagpur district.

The Solar Pump Unit has been installed on experimental basis by Rite Water Solutions under the supervision of the Zilla Parishad authorities.

The plant will facilitate villagers to get pure water supply for a very low cost, which can easily be borne by the Gram Panchayat.

Key facts related to Solar Power operated Mini-Water Supply Plant

The system runs completely on solar power for which 1800 Watt panels have been installed.

It delivers 10000 Litres of purified water every day and the nitrate content from water is completely removed so as to prevent the ill effects on the health of villagers.

 

JEEVAN RAKSHA PADAK AWARDS 2015 ANNOUNCED

President Pranab Mukherjee approved the conferment of Jeevan Raksha Padak Series of Awards 2015 on 50 persons.

These series of gallantry awards were instituted in the year 1961. These are given to a person for meritorious act of humane nature in saving the life of a person in cases like drowning in water, accidents, fire incidents, electrocution, natural calamities, rescue operation in mines etc.

The award is given in three categories, which are:

i) Sarvottam Jeevan Raksha Padak is awarded for conspicuous courage in saving life under circumstances of very great danger to the life of the rescuer.

ii) Uttam Jeevan Raksha Padak is awarded for courage and promptitude in saving life under circumstances of great danger to the life of the rescuer.

iii) Jeevan Raksha Padak is awarded for courage and promptitude in saving life under circumstances of grave bodily injury to the rescuer.

Both men and women in all walks of life are eligible for these awards.  The award can also be conferred posthumously.

The award is presented in the form of a medallion and a certificate signed by the Union Home Minister and demand draft for lump sum monetary allowance is presented to the awardee by the respective State Government to which the awardee belongs.

The recipients are given a lump-sum monetary allowance at the following rates:-

a) Sarvottam Jeevan Raksha Padak-  100000 Rupees

b) Uttam Jeevan Raksha Padak-60000 Rupees

c) Jeevan Raksha Padak-40000 Rupees

List of winners of award for 2015

Sarvottam Jeevan Raksha Padak

Ullas Unnikrishnan (Posthumous), Kerala;

Munna alias Ramdars Sisodiya (Posthumous), Madhya Pradesh

Ankit Kumar  Mishra (Posthumous), Uttar Pradesh

Uttam Jeevan Raksha Padak

Shivakumar R., Karnataka; Laldinpuia, Mizoram; Shaitan Singh (Posthumous), Rajasthan; Jitendra Kumar Soni, Rajasthan; Shourya Veer Singh (Posthumous), Madhya Pradesh; Riya Chaudhary (Posthumous), Uttar Pradesh; Monika alias Manisha (Posthumous), Uttarakhand; Gaurav Kumar Bharti (Posthumous), Uttar Pradesh; and Ravindra Pal Singh (Posthumous), Uttar Pradesh

Jeevan Raksha Padak

Vikas Kumar Singh, Chhattisgarh; Amar Singh Gond, Chhattisgarh; Abhishek P.V., Kerala; Tomy Thomas, Kerala; Praveen P.K., Kerala; Jineesh,  Kerala; Rabeesh, Kerala; Vipin, Kerala; Kiran Das,  Kerala; Pradeep. M.V., Kerala; Harish Kumar Bhil, Rajasthan; Satish Vaijanathrao Bolegave, Maharashtra; Podo Soba, Mizoram; Syamol Kanty Chakma, Mizoram; Lalduhawma,  Mizoram; R. Zoengmawii, Mizoram; R. Rothantluanga,  Mizoram; Kuldeep Singh Kumpawat, Rajasthan; Rishipal Singh Kumpawat, Rajasthan; Jawahar Singh Yadav, Uttar Pradesh; Narender Singh, Uttarakhand; Shree Prakash,  Uttar Pradesh; Kesav Kumar Yadav, Uttar Pradesh; Amit Kumar, Haryana; Aditya Raj Aanjaneya, Rajasthan; Abhiruchi Shrivastava, Madhya Pradesh; Muhammed Vahid P, Kerala; Romario Johnson, Kerala; Akshay Anand Tambe, Maharashtra; Mohit Kumar Mongare, Chhattisgarh; Kanhaiya Gadiya, Chhattisgarh; Avinash Pandey, Uttar Pradesh; Md. Javed Hussain, Bihar; Onkar Singh, Jammu & Kashmir; Rizen Wanchok, Jammu & Kashmir; Manjeet Singh, Punjab; Yogesh Kumar, Haryana; and Narendra Singh, Uttarakhand

CENTRE GAVE RESPONSE TO ARUNACHAL PRADESH PRESIDENT’S RULE

  • Recurrent insurgency, Chinese claims over Indian territory, a communal Chief Minister and a document signed by a “majority” 34 MLAs urging for President’s rule in Arunachal Pradesh are factors listed by the Centre to justify the proclamation of emergency in the sensitive border State on Republic Day.
  • These are the highlights of a 316-page counter-affidavit filed by the Ministry of Home Affairs (MHA) in the Supreme Court.
  • The Centre said President’s rule was proclaimed in Arunachal Pradesh in the interest of the country.
  • It said political stability is imperative in Arunachal Pradesh as it is a strategically located State.
  • The Chief Minister and the Speaker pitted one particular community against the other tribes and “incited, provoked and fund- ed” communal politics against the Governor, referring to his “Assamese roots”.
  • The Centre highlighted how the Speaker had locked out the legislators, preventing them from entering the Assembly Hall between December 15 and 18, in order to conduct a floor test of the Tuki government’s majority.
  • This was done on the basis of a “source information” received by the Speaker that anti-social elements would try to burn down the Assembly building.

SPECIAL TECHNICAL GROUP FORMED TO MONITOR THE SPREAD OF THE ZIKA VIRUS

  • On the heels of the World Health Organization's warning on Zika virus, the government said it hasconstituted a special, technical group to monitor the spread of the virus in other countries.
  • Aedes mosquito which transmits dengue also transmits Zika virus. The government note emphasised an increased focus on prevention to control the spread of the Aedes mosquito that breeds in clean water.
  • The Zika virus has been associated with inexplicable spike in Brazil, of babies being born with unusually-small heads.
  • The virus has been detected in some people in the U.S. and the U.K. who have said they had travelled to South America.
  • There have been no reports of outbreaks of Zika in India though there is concern that given the ubiquity of air- travel, carriers of the virus may arrive in India.

NSSO DATA SHOWS MASSIVE INEQUALITY IN URBAN INDIA

  • The average asset holding of the bottom 10 per cent of urban Indian house- holds is around Rs. 291, new data from the National Sample Survey office (NSSO) show.
  • Most households reported owning some kind of physical or financial assets, the survey, conducted in 2012-13, shows.
  • On an average, rural and urban households own assets worth Rs.10 lakh and Rs.23 lakh respectively. However, the average hides a wide variation in the distribution of assets.
  • The bottom 10 percent (in terms of total assets) of rural households had assets worth Rs.25,071 on an average, largely as a result of the value of land, while the figure for their urban counterparts was just Rs.291, implying that the urban poor hardly own any assets.
  • On the other hand, the top 10 per cent of the rural and urban population had average assets worth Rs.57 lakh and Rs.1.5 crore respectively.
  • Haryana and Punjab had the highest average assets per household in rural areas, while Maharashtra and Kerala were on top in urban areas.
  • Odisha lay at the bottom in both rural and urban India.
  • Land and buildings held the dominant share in asset holdings, as was the case in the previous decade, comprising more than 90% of all assets in both urban and rural areas.
  • Financial assets that include shares in companies and cooperative societies, national saving certificates, and deposits in companies andbanks, were just two per cent of total assets in rural areas, compared with five per cent in urban areas.
  • The share of land as a proportion of total assets has increased with time, possibly due to the escalation of land prices, says the NSSO report.
  • The data also show that 31 per cent of the rural households and 22 per cent of the urban households were under debt.

STREET VIEW OF GOOGLE UNDER SCANNER

  • The Centre is unlikely to allow Internet giant Google’s Street View service in India amid red flags raised by the Ministry of Defence and security agencies.
  • They submitted a formal proposal in July to shoot images through high-end cam- eras and upload them on ‘Street View’.
  • As of now, we can say that intelligence agencies are alsostonewalling it.
  • In 2011, Google launched Street View as a pilot project in some of the tourist sites like Qutub Minar, the Thanjavur temple, the Varanasi riverbank, the Taj Mahal, the Red Fort, Nalanda University, Mysore Palace and Chinnaswamy Stadium in partnership with the Tourism Ministry.
  • Street View allows users to have a panoramic view of places in cities, as they wouldlook in real life.
  • The Internet giant uses cars and bikes fit- ted with cameras to collect 360-degree images of a place.
  • The service was launched in 2007 in the United States, and has since expanded to other parts of the world.
  • The Street View imagery has run into trouble in Germany, Greece, Switzerland, Poland and the United Kingdom amid privacy concerns and data protection issues.

OLYMPICS IN DANGER DUE TO SPREAD OF ZIKA VIRUS

  • With about 5,00,000 people expected to visit Brazil for the Olympics here this year, researchers are scrambling to figure how much of a risk the Games might pose in spreading the Zika virus around the world.
  • Infectious disease specialists are particularly focused on the potential for Zika to spread to the United States.
  • As many as 2,00,000 Americans are expected to travel to Rio de Janeiro for the Olympics in August.
  • When they return to the Northern Hemisphere and its summer heat, far more mosquitoes will be around to potentially transmit the virus in the U.S.
  • Brazilian researchers say they believe that Zika, which has been linked to severe birth defects, came to their country during another major sports event — the 2014 World Cup — when hundreds of thousands of visitorsflowed into Brazil.
  • Virus trackers here say that the strain raging in Brazil probably came from Polynesia, where an outbreak was rattling small islands around the Pacific.
  • As many as 1.5 million people are believed to have contracted the virus in Brazil since then, and the authorities are now investigating thousands of reported casesof babies being born recently with brain damage and ab- normally small heads.

UNIVERSAL HEALTH COVERAGE IN WHO AGENDA

  • The World Health Organization (WHO) announced setting up of a dedicated unit that will focus on achieving universal health coverage (UHC), which is target 3.8 of sustainable development goals (SDGs).
  • The goals within SDGs emphasise the need to achieve UHC by ensuring financial risk protection and improving access to essential health care services for those marginalised.
  • So far, the quality of services has been neglected within the UHC dialogue. We at the WHO believe that there has been a lack of centre of gravity for quality.
  • It is with this in mind that a unit is being formed to address UHC & quality.
  • This special unit will focuson three key aspects: alignment of country engagements and global framework, health service resilience, and quality and lastly establishing partnerships to reach these goals.
  • This year, the prestigious award (in medicine) was conferred upon Professor Morton Mower from the UnitedStates for invention of the Automatic Implantable Cardio-verter Defibrillator, a device that helps monitor heart rate and rhythm, and deliver electrical current when abnormality is detected.

STATE RUN BANKS TO GET GOVT. SUPPORT

  • The government reiterated its commitment to support public sector banks’ capital needs at a time when bad loans are eroding their capital and putting pressure on profits.
  • The Reserve Bank of India (RBI) is forcing banks to clean up their balance sheet by asking the lenders to make adequate provisions for bad loans, which were unidentified hitherto.
  • The banking regulator has prepared a list of borrower accounts, whichhas to be classified as non- performing and provided for in third and fourth quarter of the current financial year.
  • The government said it would provide Rs.25,000 crore in this fiscal year and an additional Rs.25,000 crore next fiscal year.
  • There is a transformation process under way for IDBI Bank. The finance minister said IDBI will be transformed in a manner similar to the way Axis Bank was transformed. Government holding in IDBI Bank is 76.5 per cent.
  • When Axis Bank commenced business it was owned by UTI and a clutch of pub- lic sector insurance companies. Ownership was one hundred per cent in the public sector, and yet it was awarded a private sector bank license.
  • In February 2003, the UTI shareholding was transferred to the Special Undertaking of the Unit Trust of India (SUUTI).
  • Since then, the Government-as-Investor stance has characterised the control of the Bank, with SUUTI acting as a special purpose vehicle holding the investment on behalf of the Government.

GOVT. HAS MANAGED FISCAL DEFICIT WITHIN LIMITS

  • The fiscal deficit for the first nine months (April-December) of this financial year stood at 88 per cent of the annual target comparable with 100.2 per cent of the target it managed during the same period in the previous financial year.
  • The April-December fiscal deficit — the difference between government revenue and expenditure — stood at Rs.4.88 lakh crore, which is 88 per cent of the Rs.5.55 lakh crore target for the full year set in the Budget.
  • It amounts to 3.9 per cent of the GDP, a target that many industry leaders want to be pushed back in favour of increased public expenditure.
  • They said it will boost domestic demand.
  • Several economists argue that it is important to stick to the fiscal deficit target since government accounts already fail to show the correct picture.
  • The other argument is that the government must simultaneously increase public spending and still keep a tight grip on the fiscal deficit target since it is availing the benefit from falling oil and mineral prices.

SANTINA WIN AUSTRALIAN OPEN

  • In a perfect climax to their stupendous run, Sania Mirza and Martina Hingis were crowned the Australian Open women’s doubles champions after they tamed the spirited Czech duo of Andrea Hlavackova and Lucie Hradecka 7-6(1), 6-3 for their 36th win in a row.
  • It was the third consecutive Grand Slam title for Sania and Hingis, having won the Wimbledon and US Open in the 2015 season.
  • In an incredible feat, Sania and Martina have now extended their unbeaten run to 36 matches, winning eight titles in a row.

 

 

 

 


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Last Updated on Tuesday, 02 February 2016 04:08
 

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