Reliance terminates lobbying activities in US
January 24th, 2013
Mukesh Ambani- led Reliance Industries Limited (RIL) has terminated all its lobbying activities among US lawmakers after having spent nearly 2 million dollars (over Rs 10 crore) to its lobbyist firm,Barbour Griffith & Rogers LLC (BGR), in the past 4 years. BGR has lobbied for RIL in the areas of ‘domestic and foreign trade’ and has provided "strategic counsel on issues related to trade”.
Rajnath Singh takes charge as new BJP president
January 24th, 2013
The BJP unanimously elected Rajnath Singh as its president. Singh replaced Nitin Gadkari who had been on the post since 2009.
Winners of 58th Idea Filmfare Awards
January 24th, 2013
The grand Annual 58th Idea Filmfare Awards event was organized in Mumbai. The following are the winners under various categories:
POPULAR AWARDS:
- Best Actor (Male): Ranbir Kapoor (Barfi!)
- Best Actor (Female): Vidya Balan (Kahaani)
- Best Film: Barfi!
- Best Director: Sujoy Ghosh (Kahaani)
- Best Supporting Actor (Male): Annu Kapoor (Vicky Donor)
- Best Supporting Actor (Female): Anushka Sharma (Jab Tak Hai Jaan)
French, Malian troops retake main towns
January 24th, 2013
The combined efforts of French and Malian troops has led to recapture of two key towns from al-Qaeda-linked Islamists holding Mali’s north.The towns of Diabaly and Douentza were retaken in the 11-day offensive led by former colonial power France, whose aim is the "total reconquest" of Mali’s vast semi-arid north.
However, the reaction of Egypt on this move of France was sharply critical which is not in support of military intervention in Mali saying the move will fuel conflict in the region.
Diabaly, which lies 400 kilometres north of the capital Bamako.
Douentza is a strategic crossroads town some 100km east of Konna.
The planned deployment of around 6000 African soldiers is slowly taking place into Bamako. The UN-approved African-led force is hindered by cash and logistical constraints, requiring up to 200 million euros.
25 RRBs merged into 10
January 24th, 2013
Restructuring of RRBs by merging geographically contiguous RRBs sponsored by different banks within a state is in progress in order to consolidate RRBs segment. During the first 9 months of the current fiscal 25 such banks have been merged into 10. Now the number of RRBs stands at 67 till the first week of Jan 2013. RRBs have a network of about 16,000 branches spread across the rural and semi-urban centres of the country.
What is the aim of consolidation?
- The consolidation of RRBs has been progressing since 2005 following the recommendation of a committee chaired by RBI Deputy Governor K C Chakrabarty which decided to recapitalize 40 selected RRBs in 21 states.
- These mergers will boost the capital base of RRBs and improving efficiencies as well as optimizing the use of modern technology.
Where did these mergers take place?
- States where the mergers took place are Bihar, Karnataka, Madhya Pradesh, Orissa, Rajasthan, Uttar Pradesh and Uttarakhand.
The Centre’s shareholding in RRBs is 50%, while 35% and 15% are with the sponsor banks and state governments, respectively.
MGNREGA post office accounts ready for cash transfers scheme
January 24th, 2013
Now the 3.5 crore post office accounts of the workers under MGNREGA will be used to make Aadhar-linked direct transfer of benefits such as pensions, scholarships and social welfare payments. Earlier, the post office accounts could not be used to make any deposit other than NREGA wage.
Under the new cash or direct benefit transfer initiative, the Aadhaar number will be used to authenticate the identities of beneficiaries, who will then receive their government benefits directly into their accounts. This requires all beneficiaries to open bank or post office accounts, which will then have to be seeded with their Aadhaar numbers.
Apex Court prohibits fresh shrines, statues on public roads
January 24th, 2013
In order to curb the menace of encroachment and strengthen the hands of civic bodies the Supreme Court has ordered ban on fresh encroachment of roads, pavements and sideways by construction of religious structures or installation of statues of public figures. The court took seriously the common hazard in all Indian cities and towns where illegal religious structures – often thinly disguised cases of land grab – have burgeoned on public and private land and are hindering roads and inconveniencing residents.
Why this order?
- The court responded to the application by K R Pradeep Kumar of Thiruvananthapuram, Kerala challenging government’s permission to a private society to install the statue of public figure on a traffic island on a national highway from Thiruvananthapuram to Kanyakumari at Neyyatinkara. The applicant said that such installations were obstructing the movement of traffic and were causing public inconvenience.
How would it help?
- With this ruling, municipal and government bodies will be empowered to prohibit unauthorized constructions being carried out under the garb of religious structures as often local political interests and religious sentiments make authorities helpless.
TRAI plans common emergency response number for India
January 24th, 2013
The Telecom Regulatory Authority of India (TRAI) is planning to bring a consultation paper regarding setting up of a single emergency helpline where a call centre will receive all distress calls and then accordingly alert departments or agencies concerned depending upon the type of emergency.
Currently India has separate emergency numbers for handling different emergencies, unlike in the US where there is only one number 911 to tackle any emergency.
PM inaugurates Ghat Ki Guni tunnel
January 24th, 2013
PM Manmohan Singh and Congress president Sonia Gandhi inaugurated the Ghat Ki Guni tunnel project.
About Ghat Ki Guni:
Ghat Ki Guni is a 2.8km long tunnel located at east Jaipur and connectsMI Road and NH-11 passing through Jhalana Hills. The passage, built at the cost of Rs 150 crore, will alleviate the congestion due to traffic by providing alternative route to Jaipur-Agra Road.
Russia starts its largest naval exercise in post-Soviet era
January 24th, 2013
The Russian Navy has kicked off a 9-day exercise in the high Mediterranean and Black seas off the shores of Syria. It is the largest naval maneuvers since the collapse of the Soviet Union. The objective behind the war games is to improve coordination b/w different naval groups during missions in far-away sea zones.
As per experts, the exercises will serve to demonstrate Russia’s naval power to a highly explosive region and render moral support for the embattled regime of Syrian President Bashar al-Assad. Russia leases a naval base at the Syrian port of Tartous.
GDP of China plunges to 3-year low of 7.6%
January 24th, 2013
GDP of China plummeted to a new low of 7.6% in last quarter, which is the lowest in last three years.
China’s slowdown undermines a global recovery already threatened by Europe’s debt crisis and limited U.S. job growth.
As per the latest ruling of the apex court, not only an MLA but any interested person has the right to inform the Speaker of the fact that a member has incurred disqualification under the Tenth Schedule of the Constitution (anti-defection law) and the presiding officer is bound to take action on the complaint.
What is the issue?
The Nationalist Congress Party (NCP) President Utkar Keshari Parida, who is not an MLA, had filed an application to the Speaker seeking disqualification of all 4 MLAs who defected the party and joined Biju Janata Dal (BJD). However. The Speaker took no action. Parida moved the Orissa High Court which held that the writ petition was maintainable. The Supreme Court dismissed the Speaker’s appeal against the ruling which said “Although disqualified under paragraph 2(1) (a) of the Tenth Schedule, in the absence of any application for disqualification to the Speaker, they [the four MLAs] would continue to function as members of the Assembly, which was not the object sought to be achieved by the 52nd Amendment, by which the Tenth Schedule was introduced in the Constitution.” It held that the Statement of Objects and Reasons of the Bill, which finally became the Constitution 52nd Amendment Act, 1985, indicated that the evil of political defection had become a serious problem and if it was not curbed, it could very well undermine the very foundation of our democracy and the principles which sustain the same. In such an event, if the provisions of the Tenth Schedule are interpreted to exclude the right of any person interested to bring to the notice of the Speaker of the House the fact that any or some of its members had incurred disqualification on any of the eventualities indicated in paragraphs 2 and 4 therein, it would render the inclusion of the Tenth Schedule in the Constitution otiose and defeat the objects and intent of the 52nd Amendment.
IOC asks Lance Armstrong to return bronze medal won at 2000 Sydney Olympics
January 24th, 2013
The International Olympics association has requested the discredited cyclist Lance Armstrong to return the Olympic bronze medal he won at the 2000 Sydney Olympics Games. The cyclist was stripped off all the seven Tour de France medals he had won after a report from the US Anti-Doping Agency (USADA) accused him of leading a massive doping programme on his teams.Central Government to infuse Rs 3,004 crore in SBI
January 24th, 2013
The Central Govt will infuse a capital of Rs. Rs 3,004 crore in State Bank of India (SBI) as a part of capital infusion plan for the current fiscal.
The liquidity infusion will enable the bank to support national and international banking operations undertaken through its subsidiaries and associates.
The capital will be infused by way of preferential allotment of equity shares to the government.
In the last fiscal, SBI was infused with Rs 7,900 crore to increase its Tier-I capital.
After the capital infusion in March 2012, the government stake in SBI increased to 61.58 % from 59.4%.
The government had recently given nod to capital infusion of Rs 12,517 crore in around 10 state-owned banks by March, 2013.
PNB to get Rs 1,248 cr from Central Govt
January 24th, 2013
The Central Government will to infuse Rs 1,248 crore in Punjab National Bank (PNB) through preferential allotment of shares. The decision is part of recently approved capital infusion plan of Rs 12,517 crore in around 10 state-owned banks by March, 2013.
S S Mundra appointed as the new CMD of BoB
January 24th, 2013
S S Mundra has been appointed by the Government of India as theChairman and Managing Director (CMD) of India’s second largest lender- Bank of Baroda. He is the former Executive Director of Union bank of India.
U.R. Rao to be inducted in Satellite Hall of Fame
January 24th, 2013
The former ISRO chairman, Prof. U.R. Rao, will be inducted the prestigious international Satellite Hall of Fame. The US based Society of Satellite Professionals International (SSPI) is honoring him for his contribution to the field of satellite-related aerospace scientific research.
Prof. Rao, who served as Secretary, Department of Space, and Chairman of the Space Commission for 10 years from 1984, will join the club of some 40 space personalities who include Arthur Clarke. Currently, Rao is the chairman of the governing council of the Physical Research Laboratory, Ahmedabad.
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