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CURRENT AFFAI RS
J ANUARY2014
Reserve Bank of India
Third Mid-Quarter Review of Monetary Policy 2013-14 The Reserve Bank of India (RBI) on
December 18, 2013 kept the indicative policy rates (repo) and cash reserve ratio (CRR) unchanged
while announcing the third mid-quarter of its monetary policy.
The RBI kept the repo rate at 7.75 per cent, and kept the CRR, which is the portion of the total
deposits the banks have to keep with the central bank as a reserve, at the current level of 4 per cent.
Repo rate is the short term rate at which banks borrow funds from the central bank.
Justifying his action of not hiking the rates, the RBI Governor Raghuram Rajan said, given the wide
bands of uncertainty surrounding the short term path of inflation from its high current levels, and
given the weak state of the economy, the inadvisability of overly reactive policy action, as well as
the long lags with which monetary policy works, there is merit in waiting for more data to reduce
uncertainty.
RBI Governor said that retail inflation measured by the consumer price index (CPI) has risen
unrelentingly through the year so far, pushed up by the unseasonal upturn in vegetable prices,
double-digit housing inflation and elevated levels of inflation in the non-food and non-fuel
categories.
Wholesale inflation has also gone up sharply from second quarter onwards, with upside pressures
evident across all constituent components.
The pick-up in real GDP growth in the second quarter of the current fiscal was driven largely by
robust growth of agricultural activity, supported by an improvement in net exports, said Dr. Rajan,
adding, the weakness in industrial activity, however, persisting into the third quarter, still lacklustre
lead indicators of services and subdued domestic consumption demand suggest continuing
headwinds to growth.
Policy interest rates left unchanged
Inflation high but trajectory uncertain
Falling vegetable prices augur well for containing inflation
Strong Headwinds to Growth
Services indicators lacklustre
Domestic consumption demand weak
Expenditure cuts by Government to exert pressure on growth
Revival of stalled investments crucial
Policy Stance
Inflation high but merit in waiting for new data
RBI will act if inflation does not fall
Action not ruled out on off-policy dates
RBI Outlines Action Plan to Tackle NPAs The Reserve Bank of India, on December 17, 2013 outlined
a corrective action plan to minimise rising non-performing assets (NPAs). The plan would include
incentivising early identification of problem cases, timely restructuring of accounts, which are
considered to be viable, and taking prompt steps by banks for recovery or sale of unviable accounts.
In a discussion paper on Early recognition of financial distress, prompt steps for resolution and fair
recovery for lenders: framework for revitalizing distressed assets in the economy, the RBI said it
would set up a Central Repository of Information on Large Credits (CRILC) to collect, store, and
disseminate credit data to lenders. The credit information would also include all types of exposures
as defined under RBI Circular on exposure norms, and will include data on lenders investments in
bonds/debentures issued by the borrower/obligor.
Banks will have to furnish credit information to CRILC on all their borrowers having aggregate
fund-based and non-fund based exposure of Rs.5 crore and above.


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While all scheduled commercial banks will mandatory contribute their credit information on their
borrowers/customers as proposed, the RBI said that systemically important non-banking financial
companies (NBFC-SI) would also be asked to furnish such information.
In addition, banks would have to furnish details of all current accounts of their customers with out-
standing balance (debit or credit) of Rs.1 crore and above.
The RBI said that before a loan account turns into an NPA, banks should identify incipient stress in
the account by creating a new sub-asset category. Special Mention Accounts (SMA). Within the
SMA category, there should be three sub-categories: SMA-NF non-financial (NF) signals of incipient
stress: SMA-1 principal or interest payment overdue between 31-60 days: SMA-2 principal or
interest payment overdue between 61-90 days. Banks will be required to report, among others, the
SMA status of the borrower to the CRILC. Individual banks will have to closely monitor the
accounts reported as SMA-1 or SMA-NF as these are the early warning signs of weaknesses in the
account. They should take up the issue with the borrower with a view to rectifying the deficiencies
at the earliest.
The RBI also said that reporting of an account as SMA-2 by one or more lending banks/NBFC-SIS
will trigger the mandatory formation of a joint lenders forum (JLF) and formulation of corrective
action plan (CAP). Further, with a view to limiting the number of JLFs to be formed, it is proposed
that JLF formation would be made mandatory for distressed corporate borrowers, engaged in any
type of activity, with aggregate fund based and non-fund based exposure of Rs.100 crore and above.
The RBI said that the lenders in the JLF would sign an inter creditor agreement (ICA) and also
require the borrower to sign the debtor creditor agreement (DCA), which would provide the legal
basis for any restructuring process.
The decisions agreed upon by a minimum of 75 per cent of creditors by value and 60 per cent of
creditors by number in the JLF would be considered as the basis for proceeding with the
restructuring or recovery action of the account, and will be binding on the lenders under the terms
of the ICA.
The RBI further said that willful defaulters will normally not be eligible for restructuring.
RBI Eases Investment Rules The Reserve Bank of India (RBI), on December 24, 2013 relaxed the
overseas investment norms by allowing resident Indians to issue tax-free, non-convertible bonds in
rupees to foreigners, and use those funds for lending to infrastructure or keeping in fixed deposits of
banks pending utilisation.
Earlier, such rupee funds borrowed from foreigners were not allowed for any investment or
foreigners were not allowed for any investment or for re-lending. The central bank said that it had
formed a committee under Executive Director Deepak Mohanty to review the current system of
data collection and the feasibility of data production within the central bank to reduce the burden
on reporting entities. This committee would recommend steps to deliver quality information to data
users and reinforce the information system for monetary policymaking.
RBI Eases Norms For Gold Dore Imports The Reserve Bank of India, on December 31, 2013 partly
eased restrictions on import of gold dore, by allowing refineries to import 15 per cent of their gross
annual requirement in the first two months and the balance as per export performance.
Refineries are allowed to import dore up to 15 per cent of their gross average viable quantity based
on their licence entitlement in the first two months for making this available to the exporters on First
in First out (FIFO) basis. Subsequent to this, the quantum of gold dore to be imported should be
determined lot-wise on the basis of export performances.
In August 2013, the RBI had imposed curbs on gold imports and linked it with exports.
Accordingly, 20 per cent, of every lot of gold imported had to be exclusively made available for
exports and the balance (80 per cent) for domestic use.
The central bank further said before the next import, not more than 80 per cent should be allowed to
be sold domestically.
Under FIFO methodology, the oldest entry, or bottom of the stack, is processed first.
Financial Stability Report December 2013 The Reserve Bank of India (RBI) on December 30, 2013
released the Financial Stability Report (FSR) December 2013.


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Non-performing assets (NPAs) of the banking sector need to be tackled on a priority basis to ensure
that they do not grow to alarming proportions. The current levels of NPAs do not pose a systemic
concern as the CRAR (Capital to Risk Weighted Assets Ratio) of the banking system is above the
prescribed levels and many projects are just delayed, not unviable.
The risks to the banking sector had further increased since the publication of the previous FSR in
June 2013. All major risk dimensions captured in the Banking Stability Indicator showed increase in
vulnerabilities in the banking sector.
Asset quality continues to be a major concern for scheduled commercial banks (SCBs). The gross
non-performing assets ratios of SCBs, as well as their restructured standard advances ratio, have
increased. Therefore, the total stressed advances ratio rose significantly to 10.2 per cent of total
advances at end September 2013 from 9.2 per cent of March 2013.
Five sectors, namely, infrastructure, iron and steel, textiles, aviation and mining, together contribute
24 per cent of total advances of SCBs, and account for around 53 per cent of their total stressed
advances.
The RBI said India was better prepared to handle the effects of tapering in the U.S. Federal Reserves
bond purchase programme starting January 2014, but continuing inflationary pressure was limiting
what its monetary policy could do. It had also raised concern on the alarming bad assets in the
banking sector.
The commencement of the taper should signal a calibrated return to normal liquidity and credit
conditions in the global markets and also better pricing of risk. This will mean a re-pricing of certain
assets with consequent volatility.
The delay in tapering allowed India to bring about adjustment in the current account deficit (CAD)
and build buffers by replenishing its foreign exchange reserves. However, macro-economic
adjustment is far from complete, with persistence of high inflation amidst growth slowdown. Fall in
domestic savings and high fiscal deficit are other major concerns for India.
The RBI said current account deficit had narrowed to sustainable levels. Foreign exchange reserves
were adequate and fiscal consolidation was in progress. The outlook for the economy had
improved, with export growth regaining momentum, but growth was still weak.
As per the report, corporate performance continues to be weighed down by boom period
expansions and excess capacities, amid shifting asset composition towards financial investments.
House prices and outstanding loans for housing by housing finance companies had grown
relatively faster during the last few years.
Action to create central repositories for the banking sector, corporate bond market and insurance
sector had been initiated. This move was expected to break the information asymmetry in those
markets.
The FSR aims to create awareness about the vulnerabilities in the financial system, to inform about
the resilience to stress of the financial institutions and to generally serve as a health check on the
financial system.
The Reserve Bank of India allows Non-Banking Finance Companies to lend upto 75 per cent of the
Loan-To-Value ratio of gold jewellery from 60 per cent, with immediate effect.
Banks Loan Limit Against Jewels - The Reserve Bank has allowed banks to sanction loans of up to
Rs.1 lakh against pledge of gold ornaments and jewellery. It has been decided to permit bullet
repayment of loans extended against pledge of gold ornaments and jewellery for other than
agricultural purposes, the RBI said in a notification. Bullet repayment means a lump-sum payment
for the entire loan amount paid at the time of maturity.
Other Banks
Approval To Conversion Of Preference Shares Into Equity In 3 Banks - The government, on January
2, 2014 approved conversion of perpetual non-cumulative preference shares (PNCPS) of three public
sector banks into equity, a move that would raise its holding in these lenders.
This would apply to three banks: Indian Bank, UCO Bank, Vijaya Bank.


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Following the conversion, the government holding in Indian Bank would go up to 82.22 per cent
from the existing 80 per cent. In case of UCO Bank, it would be 77.25 per cent from 69.26 per cent,
while Vijaya Bank, it would be 71.85 per cent from the existing 55.02 per cent.
The Cabinet gave its approval for conversion in Indian Bank, UCO Bank and Vijaya Bank
amounting to Rs.400 crore, Rs.1,823 crore and Rs.1,200 crore, respectively, into equity shares of
these banks in favour of the government, subject to approval of shareholders and also the Securities
and Exchange Board of India (SEBI) and other authorities. Conversion of PNCPS, subscribed by the
government in these banks, into equity in the first instance and subsequently in other public sector
banks where it has invested in PNCPS, PCPS and IDPIs, would enhance the Tier-I capital of the
state-owned banks, thereby, making more funds available at their disposal to meet the credit
requirement of the productive sectors of economy.
Supreme Court
Supreme Court Judgement On Homo Sexuality Indias Supreme Court on 11 December upheld the
constitutional validity of Section 377 of the Indian Penal Code making gay sex an offence punishable
with upto life imprisonment. A bench of justices G S Singhvi ans SJ Mukhopadhaya set aside the Delhi
High Courts verdict which had in 2009 decriminalised gay sex among consenting adults in private.
The Supreme Court directs all the States to drastically restrict the number if VIPs using the red beacon
in their cars, and give the facility only to heads of the executive, the legislature and the judiciary and
those holding constitutional posts.
The Supreme Court holds that once a person is declared as an absconder/proclaimed offender in a
criminal case, he/she will not be entitled to the relief of anticipatory bail.
The Supreme Court issues notice to the Centre and all States, asking them to show cause why contempt
proceedings should not be initiated against them for violating its order on implementing the High
Security Number Plates (HSNP) scheme for motor vehicles.
Centre Government
Code of Conduct Revised In a bid to insulate the bureaucracy from political interference, the Union
Cabinet on December 12, 2013 revised the Code of Conduct for Ministers (both Union and States) by
adding a new provision as per which Ministers cannot force civil servants to take decisions that may be
in conflict with their duties and responsibilities.
A new paragraph has been added to Section 2 in the Code of Conduct, which states that the
Ministers shall up hold the political impartiality of the civil services and not ask the civil servants
to act in any way which would conflict with the duties and responsibilities of the civil servants.
The revised code will take immediate effect in the case of the Union Council of Ministers. In the case
of the States and the Union Territories, the revised code will be forwarded to the Chief Ministers for
adoption.
Cabinet approves spectrum base price The Union Cabinet, on December 9, 2013 approved the
reserved prices for spectrum sale as recommended by the Empowered Group of Ministers (EGoM) on
telecom Rs.1,765 crore per MHz pan-India for 1800 MHz band and Rs.360 crore. Rs.328 crore and
Rs.125 crore per MHz in metro service areas of Delhi, Mumbai and Kolkata, respectively, for 900 MHz
band.
The spectrum prices are 26 per cent lower than the base price in case of 1800 MHz band and 53 per
cent less in 900 MHz band than the previous auction prices. The government is hoping to garner
over Rs.48,000 crore from the spectrum sale slated for January 2014.
Centre Clears Rs.990-crore Programme for Leather Sector During XII Plan The government, on
January 2, 2014, approved the Indian Leather Development Programme (ILDP), entailing expenditure
of about Rs.990 crore, for implementation during the XII Plan (2012-17) for the overall development of
the sector.
The Cabinet Committee on Economic Affairs has approved the Central sector scheme, ILDP, for
implementation during the XII Plan aiming at overall development of the leather sector. The ILDP


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was implemented in the XI Plan under 13 sub-schemes and an expenditure of Rs.669.02 crore was
incurred during the period. Six sub-schemes are being proposed for continuation from the XI Plan
for implementation during the XII Plan with an outlay of Rs.990.36 crore.
The schemes are: integrated development of leather sector, human resource development, support
to artisan, leather technology innovation and environmental issues, mega leather cluster and
establishment of institutional institutes.
Budgetary Support For Sicks CPSEs - The Cabinet Committee on Economic Affairs (CCEA), on
December 26, 2013 approved non-plan budgetary support of Rs.116.86 crore for the payment of
statutory dues such as provident fund, gratuity, pension, employees state insurance and bonus as well
as salaries and wages at eleven sick or loss-making Central Public Sector Enterprises (CPSEs) under the
Department of Heavy Industry.
The Cabinet Committee on Economic Affairs approves the ambitious proposal for installing CCTV
cameras and Global Positioning Systems (GPS) in public transport vehicles to ensure womens safety.
The Union Cabinet approves the National Youth Policy 2014 to replace the National Youth Policy
2003.
Centre Approves a Programme to Address Malnutrition The Programme, recommended by the
Prime Ministers National Council on Indias Nutrition Challenges in 2010, will be implemented in 200
high-burden districts in two phases at an estimated cost of Rs.1,213.19 crore. It will be a Centrally
Sponsored Scheme under the National Nutrition Mission, with the Centre-State cost sharing ratio 90:10
for all components in the north-eastern States and special category States, and 75:25 for the other States
and the Union Territories.
States
ANDHRA PRADESH Cabinet approves Telangana: The Union Cabinet on December 5, 2013
approved a Bill for creation of a Telangana State with 10 districts, paving the way for the bifurcation of
Andhra Pradesh to give birth to the countrys 29
th
State.
Though the idea of adding two districts of Rayalaseema to the new State was raised by at least two
of the Ministers from the coastal districts, Home Minister Sushilkumar Shinde apparently made it
clear it was never under consideration.
Highlights of the Bill:
Telangana will have 10 districts and the rest of Andhra Pradesh will have 13 districts
The Greater Hyderabad Municipal Corporation area will remain the common capital for both
States for a period not exceeding 10 years
An expert committee will identify an alternative capital for Telangana within 45 days of gazette
notification
A joint public service commission will be in place for the two States
Both States will have special status under Article 371-D of the Constitution for equitable
opportunities.
The Governor of Telangana will have a special responsibility for security of life, liberty and
property of all those who reside in the common capital area. The Governor may be assisted by
two Advisers, to be appointed by the United Government.
Pulichantala Project Dedicated to Nation - Andhra Pradesh Chief Minister N. Kiran Kumar Reddy
dedicated to the nation the Pulichantala project (named after Dr.K.L.Rao) across the Krishna in
Guntur on December 7, 2013. The inauguration of the project was a dream come true-for farmers of
Krishna Delta system as it has been designed to stabilize 13.08 lakh acres of ayacut besides
generating 120 MW of power in the hydel unit located in Vajinipalli village in Nalgonda district.
At least 26 passengers are killed after a fire engulfs an AC coach of Bangalore Nanded express
train in Anantpur district of Andhra Pradesh.
SIKKIM Air Connectivity to Sikkim by 2014: Sikkim will have air connectivity by December, 2013
when the construction of a green-field airport at an altitude of 4,700 feet will be completed. The airport,


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one of the five high altitude airports in India, is being constructed on 200 acres of land, around 30 km
south of capital Gangtok. The airport, with 180-metre-long airstrip, will facilitate the flights of ATR-72
planes and include hangars for two small ATR aircraft. Presently, the nearest airport to Sikkim is
located 124 kilometres away at Bagdogra in West Bengal.
JAMMU & KASHMIR - Jammu & Kashmir Kashmir Gets a Ropeway - Twenty-five years after the
authorities conceived the Kashmir Valleys first ropeway and created the Jammu and Kashmir Cable
Car Corporation (JKCCC) to boost tourism at Gulmarg, the State got its second tourist-carrier on
December 23, 2013. Three Ministers of Omar Abdullahs government Ghulam Ahmed Mir, Mian
Altaf Ahmad and Ali Mohammad Sagar dedicated the 594-metre mono-cable ropeway to the
residents of Srinagar.
MANIPUR Sankirtana on UNESCOs Intangible Heritage list Sankirtana: Ritual singing,
drumming and dancing of Manipur nominated from India is among the 14 elements inscribed on the
Representative List of the UNESCO Intangible Cultural Heritage of Humanity. This was announced at
the eighth session of the UNESCO, Intergovernmental Committee in Baku, Azerbaijan, held from
December 2 to 7, 2013.
DELHI - The Aam Aadmi party (AAP) government announces a 50 per cent subsidy on power
consumption up to 400 units on the existing Delhi Electricity Regulatory Commission (DERC) rates in
Delhi.
Place in the News
In the month of December 2013, A 1,400-year-old Buddhist temple, built during the Northern Qi
Dynasty, has been discovered in north Chinas Shanxi Province.
Jhajjar The Union Cabinet on December 26, 2013 approved the proposal for setting up of National
Cancer Institute at Jhajjar in Haryana.
Plastivision India 2013 - The 9
th
Plastivision India 2013, the international plastics exhibition, was
organised from December 12 to December 16, 2013 in Gurgaon, Mumbai.
Personalities
Devyani Khobragade The Indian Foreign Service officer, Deputy Consul-General in New York,
Devyani Khobragade was arrested on December 12, 2013 and later on released after paying a $250,000
person recognizance bond. She was forced to surrender all travel documents and submit to numerous
restrictions on travel, contact with involved parties and employment change declarations.
The U.S. Department of Justice has pressed criminal charges against Ms. Khobragade specifically
alleging that she caused materially false and fraudulent documents to be presented to authorities
in her bid to get an Indian national, Sangeeta Richard, employed as a babysitter and housekeeper at
her residence in Manhattan in 2012.
She is also banned from sponsoring any further visas, cannot have any contact with Ms.Richard.
The Government of India on December 18, 2013 transferred Devyani to Indias Permanent Mission
in United Nations.
Abdul Basit is new Pakistani Envoy To India Pakistan has on 19 December appointed career
diplomat Abdul Basit as new High Commissioner to India. The government initially zeroed in on Syed
Ibne Abbas as the new envoy to New Delhi but changed its decision as officials felt he was too junior
for the crucial posting.
Romanian actor Radhu Belgian is declared the worlds oldest active actor at the age of 95 by the
Guinness Book of World Records.
Tennis champions Rafael Nadal and Serena Williams are named sportsman and sportswoman of the
year 2013 by French sports daily LEquipe.
Indian football captain Sunil Chhetri on 20 December was named the 2013AIFF Player of the Year. The
announcement was made by All India Football Federation (AIFF).


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Indian off-spinner Ravichandran Ashwin was adjudged the winner of Polly Umrigar Award, for
being Indias best international cricketer of 2012-13, the Board of Control for Cricket in India (BCCI)
announced on 26 December.
Bea Rose Santiago from Philippines has been crowned the Miss International 2013 in Tokyo on 17
December.
Aam Aadmi Partys impressive debut in the Delhi elections has earned party founder Arvind Kejriwal
a place on Foreign Policy magazines list of 100 global thinkers for leading a campaign to clean up
Indias capital.
Gopal Kharvi, a 37-year-old fisherman from Kodikanyana village in Udupi district, creates a Guinness
World Record by swimming the farthest distance wearing handcuffs and leg irons.
The Guardians Person of the year for 2013 is Edward Snowden, the former National Security
Agency (NSA) contractor-turned whistleblower.
Union Finance Minister P. Chidambaram, while speaking at the Delhi Economic Conclave 2013on The
Agenda for the Next Five Years, says that the Government will not turn back from the path of fiscal
discipline.
The International Cricket Council inducts Australias legendary wicketkeeperbatsman Adam Gilchrist
into its Hall of Fame during the third Ashes Test in Perth.
Andy Murray, the first British tennis player to win the Wimbledon in 77 years, is crowned BBC Sports
Personality of the Year, due to his landmark victory against Novak Djokovic in July 2013. The surprise
runner-up was Wales and Lions rugby star Leigh Halfpenny.
Anju Bobby George is upgraded to gold status in the 2005 World Athletics Final in Monte Carlo
following the disqualification of Tatyana Kotova of Russia by the International Association of Athletics
Federations, following the recent re-testing of the laters sample collected at the 2005 World
Championship in Helsinki.
Zaheer Khan - Indian pacer Zaheer Khan got his 300
th
Test wicket when he dismissed Jacques Kallis in
the first Test at the Wanderers Stadium in Johannesbug on December 22, 2013. He is the fourth Indian
bowler and 27
th
overall to reach the mark.
Highest Earner Sports Persons - American golfer Tiger Woods is the highest earner according to the
Forbes annual sporting survey of 2013, published in December 2013.
1. Tiger Woods (USA, Golf): Total earnings $ 78 million.
2. Roger Federer (Switzerland, Tennis): Total earnings $ 72 million
Defence and National Security
India Successfully Test Fired Nuclear Capable Prithvi 2 Missile India on 3 December
successfully test fired its surface to surface ballistic missile Prithvi-II from Chandipur in the Balesore
district of Odisha. The test which is a part of the user training exercise of the Indian Army and it was
conducted from launch complex 3 of the ITR in Chandipur along the Odisha coast as part of a user trial
by defence forces. The last user trial of Prithvi-II was successfully carried out from the same base on 7
th

and 8
th
October 2013.
India Successfully Test Fires Nuclear Capable Agni-III Missile India on 23 December successfully
test-fired its nuclear-capable Agni-III ballistic missile with a strike range of more than 3,000 km as part
of a user trial by the Army from Wheeler Island off Odisha coast. The test fire of the surface-to-surface
missile was conducted by Strategic Forces Command (SFC) of the Indian Army with the logistic
support from the Defence Research and Development Organisation (DRDO). The Agni-III missile is
powered by a two-stage solid propellant system.
MiG-21 FL Leaves Behind Chequered History with IAF MiG 21 FL, Indias first generation
supersonic jet fighters are all set to be decommissioned on 11 December after being in service for 50
years. One of the first variants of the MiG 21 combat aircraft, had dealt severe blows to Pakistan Air
Force in the 1971 war. The aircraft will undertake its last ceremonial flight at a phasing out ceremony at


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the Air Force station in Kalaikunda, West Bengal, in the presence of Air Chief Marshal NAK Browne,
Chief of the Air Staff. The aircraft were also fielded in the Kargil war. The versatility of all the MiG-21
variants have immensely shaped the IAF operations philosophy for decades.
India Donates Second ALH to Maldives India on December 14, 2013 donated a second naval
Advanced Light Helicopter (ALH), Dhruv, the Maldives in a gesture that was described by Maldivian
Minister for Defence Mohamed Nazim as paving the way for further strengthening of ties between
both countries.
A brand new, Mark-III (the latest) variant of the India-made multi-role helicopter in Maldives
National Defence Force (MNDF) colours was unveiled at a simple ceremony at Naval Air Base
Kochi.
TEJAS GETS IOC The Defence Minister of India AK Antony on December 20, 2013 handed over the
Release to Service Certificate of the indigenously developed Light Combat Aircraft (LCA) Tejas to the
Chief of Air Staff. Air Chief Marshal NAK Browne at the HAL airport in Bangalore.
The Defence Minister granted the Initial Operational Clearance-II to the LCA MK-1, which has been
designed and produced by the Aeronautical Development Agency, along with Hindustan
Aeronautics Limited.
India Japan Bilateral Maritime Exercise JIMEX 13 Concluded The Indian Navy and the
Japanese Maritime Self-Defence Force (MSDF) bilateral maritime exercise named JIMEX 13 (Japan
India Maritime Exercise) was held in waters off the Indian coast in the Bay of Bengal from 19 22
December 2013. The exercise is focused primarily on security in sea lanes and enhancing
interoperability in antipiracy operations. It may be recalled that India and Japan agreed upon conduct
of bilateral naval exercises during Defence Minister AK Antonys visit to Japan in November 2011. The
first bilateral maritime exercise between India and Japan JIMEX 12 was conducted off the coast of
Tokyo (Japan) in January 2012.
India and United States Signed A Deal For Six C-130J Super Hercules India has signed a Rs.4,000
crore deal with the US for procuring six more C-130J Super Hercules Special Operations aircraft for the
Indian Air Force. The two sides signed the deal on 27 December under which the US Air Force will
supply the aircraft to the IAF through the Foreign Military Sales route. The IAF already has a fleet of
six similar planes which are deployed at the Hindon air base near here and the force uses it for carrying
out special operations including landing on inhospitable air strips in the Ladakh area. The IAF had
acquired the first lot of six aircraft at a cost of around Rs.5,500 crore.
Pinaka Rockets Successfully Test Fired Indias indigenously developed Pinaka rockets were
successfully test-fired on 19 December from a multi-barrel rocket launcher (MBRL) from a base at
Chandipur-on-sea near Balasore, Off the Odisha coast. Pinaka is a multi-barrel rocket launcher
(MBRL).
Committees/Commissions
Justice Sodhi Committee On Insider Trading Regulations Submit Report To SEBI The High Level
Committee to Review the SEBI (Prohibition of Insider Trading) Regulations, 1992 constituted under the
Chairmanship of Justice N.K. Sodhi, former chief justice of Karnataka and Kerala High Courts and
former presiding officer of the Securities Appellate Tribunal, submitted its report to SEBI Chairman,
Shri U.K. Sinha, on 7 December. The Committee has made a range of recommendations to the legal
framework for prohibition of insider trading in India and has focused on making this area of regulation
more predictable, precise and clear by suggesting a combination of principles-based regulations and
rules that are backed by principles.
Shah Commission Report On Illegal Mining Ninety-four of the 192 iron ore mining leases in Odisha
do not have the mandatory environmental clearances. And of the 96 that have them, 75 have mined far
beyond their permitted levels over the past several years, says the Justice M.B. Shah Commission
report.
Bank Accounts To All By 2016 A committee on comprehensive financial services for small businesses
and low-income households, set up by the Reserve Bank of India (RBI), has suggested that each low-


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income household and small business should be provided with convenient access to formally regulate
lenders who have the ability to assess and meet their credit needs and offer a full-range of suitable
credit products at an affordable price.
The committee, headed by Nachiket Mor, Central Board Member of the RBI, submitted its report on
January 7, 2014. The committee has set January 1, 2016, as the deadline for achieving this.
Priority sector lending On priority sector, the committee recommended adjusted priority sector
lending target of 50 per cent against the current requirement of 40 per cent with sectoral and
regional weightage based on the level of difficulty in lending. It also recommended risks and
liquidity transfers through markets. In view of the fact that banks may choose to focus their
priority sector strategies on different customer segments and asset classes, the committee
recommended the regulator to provide specific guidance on differential provisioning norms at the
level of each asset class.
Committee Recommends Amendments To the RBI ACT A Committee on Financial Benchmarks,
headed by Reserve Bank of India Executive Director P. Vijaya Bhaskar, in its report submitted in
January 2014, suggested increased role for the apex bank for the oversight of the benchmark setting
process.
The committee has recommended a change in the way of determining the money market
benchmarks so as to remove any possible scope for manipulation.
The draft report has recommended that the overnight Mumbai inter-bank Bid Rate-Mumbai Inter-
bank Offered Rate (Mibid-Mibor) fixing be based on the volume-based weighted average of traded
rates from 9 to 10 in the morning.
The committee has also recommended basing the government securities yield curve, including for
illiquid debt, on the basis of volume-based weighted average rates instead of last traded yields. The
committee has also proposed banks to set pricing for state development bonds at a spread based on
the last two auctions, instead of calculating those bond yields at a fixed spread of 25 basis points
over government debt.
The RBI, according to the committee, may advice banks and primary dealers to strengthen the
governance framework for benchmark submission and to extend necessary support to the
administrator for strengthening the benchmark setting process.
The committee was set up in the aftermath of revelations regarding manipulations of several key
global benchmark rates, namely, LIBOR, EURIBOR and TIBOR. It was set up on June 28, 2013 with a
mandate to study various issues relating to financial benchmarks in India and to submit the report
by December 31, 2013.
Summit/Conference
Ministerial Summit of World Trade Organisation The ninth Ministerial of the World Trade
Organisation was held in Nusa Dua (Bali) on December 3-6, 2013.
On December 7, 2013, World Trade Organisation (WTO) Ministers in Bali finally adopted the
historic five-draft decision declaration and the 10-document full Bali Package that addresses the
Doha Development Agenda.
The draft proposes an interim mechanism to safeguard minimum support prices to farmers against
WTO caps till a permanent solution is adopted.
Post-Bali, the negotiators in Geneva will focus on the long-stalled issues of the Doha Development
Round in a work programme they committed themselves to complete within 12 months.
A Range of Gains For Delhi
Food Security Law may push Indias minimum support prices above WTO limits, but interim
mechanism provides safeguards till WTO rules are corrected.
Agreement on Trade Facilitation could boost Indias exports.
India spearheads first agreement in the nine Ministerials held after the Doha Round.
India gains global leadership position by getting a crucial poor-rich country imbalance corrected
on a multilateral forum.


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Support subsidies to poor farmers across all developing countries get safeguards against WTO
rules.
With Bali outcomes, Doha Round and therefore WTO remain alive.
8
th
Asia Gas Partnership Summit Held In New Delhi The 8
th
Asia Gas Partnership Summit (AGPS)
was held from 3 to 4 December 2013 at New Delhi, India. The 8
th
AGPS was organized by GAIL (India)
Limited and Federation of Indian Chambers of Commerce and Industry (FIFFI). The theme of the
conference is Asian Gas Market: Challenges and opportunities in the Changing Paradigm. Prime
Minister Manmohan Singh on 3 December inaugurated the summit.
Agreement/Deal/Sign/Talk
Afghanistan and Iran Agreed On Comprehensive Cooperation Agreement The presidents of
Afghanistan and Iran have agreed on a long-term cooperation pact, a move which experts believe
could further strain Hamid Karzais ties with the United States. Karzai made the deal with Iranian
President Hassan Rouhani in Tehran on 8 December. The leaders of the Central Asian nations Iran and
Afghanistan signed a pact for long-term political, security, economic and cultural cooperation, regional
peace and security.
Israel, Jordan, Palestinians Signed Water Sharing Agreement Israel, Jordan and the Palestinians
signed a historic water-sharing initiative at the World Bank in Washington on 9 December that could
protect the Dead Sea from rising demand for water in the region. The agreement was signed by Israeli
Energy Minister Silvan Shalom, Shaddad Attili, head of the Palestinian water authority, and Hazim el-
Naser, head of the Jordanian water ministry.
China, Bolivia Agreed To Promote Friendly Relations China and Bolivia on 19 December agreed to
further promote their friendly and reciprocal relationship in talks between the two presidents. China
President Xi Jinping and Bolivian President Juan Evo Morales Ayma agreed in their talks at the Great
Hall of the People that the two countries should keep up high-level engagements; strengthen
communication between governments, legislatures and political parties; share experience on state
governing; and continue to support each other on major issues involving each others core interests.
The two presidents witnessed the signing of several cooperation deals including governmental
technology and economic cooperation.
India and UAE signed Bilateral Investment Promotion and Protection Agreement India and United
Arab Emirates (UAE) have signed a Bilateral Investment Promotion and Protection Agreement (BIPPA)
on 12 December to boost investment flows between the two countries. The BIPPA was signed in New
Delhi by Obaid Humaid Al Tayer, Minister of State for Financial Affairs from the UAE side and Namo
Narain Meena, Minister of State for Finance from the Indian side.
India and Afghanistan Agreed To Enhance Defence Ties Indian Prime Minister Manmohan Singh
and Afghanistan President Hamid Karzai have agreed to deepen defence and security cooperation to
increase the operational capabilities and mobility of the Afghanistan National Security and Defence
Forces (ANSDF). During the bilateral talks in New Delhi on 13 December, the two leaders also agreed
to expand opportunities for higher military education in India for Afghan officers.
India and Arab League Signed MoU on Cooperation India and the 22-nation Arab League on 17
December held wide-ranging discussions on key bilateral, regional and international issues, including
situation in Syria and the West Asia peace process. In their talks, External Affairs Minister Salman
Khurshid and Secretary General of League of Arab States Nabil Elaraby agreed to enhance cooperation
in trade, investment and other areas. A memorandum of cooperation between the two countries was
also signed by the two leaders that is aimed at imparting fresh momentum to engagement between the
two sides at the senior official and ministerial levels.
China and Pakistan signed a joint sales and marketing agreement - Key collaboration: China is
collaborating with Pakistan on a number of projects including Gwadar Port, Chashma Power Project,
Karakoram Highway, Pakistan Aeronautical Complex and more recently the Karachi Civil Nuclear
Power Plant.


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India Signs Labour Pact with Saudi Arabia India signed a labour cooperation agreement with Saudi
Arabia on January 02, 2014 that will cover about a quarter of the 28 lakh Indian expatriates working
there and could be the stepping stone for a more comprehensive pact covering all Indian workers in
the Gulf Kingdom.
The Agreement on Labour Co-operation for Domestic Service Workers Recruitment, inked by
Overseas Indian Affairs Minister Vayalar Ravi and Saudi Arabian Labour Minister Adel bin
Mohammed Fakeih, will be monitored by a committee of senior officials.
Cabinet Nod For FTA With ASEAN - The Cabinet on December 19, 2013 approved a free trade
agreement (FTA) in trade and services with the Association of Southeast Asian Nations (ASEAN). The
proposal was approved after a discussion between Finance Minister P. Chidambaram and Commerce
and Industry Minister Anand Sharma.
The Agreement on Trade in Services and Agreement is to be signed under the Comprehensive
Economic Cooperation (CECA) between India and the ASEAN. The CECA between India and
ASEAN was signed in 2003. The Cabinet approved the Agreement on Trade Goods under the CECA
with the ASEAN in July 2009. The agreement the Cabinet approved on December 19, 2013 is aimed
at boosting the movement of Indian professionals in the 10-nation ASEAN. Member countries
include countries like Singapore, Malaysia and Indonesia.
India, Nepal to Check Illegal Border Trade India and Nepal on December 22, 2013 agreed to address
each others concerns on commerce and transit, including reduction of tariff barriers and checking
illegal trade along the porous border between the two countries. The decisions were made during the
two-day Inter-Governmental Committee meeting that concluded in Kathmandu. The respective
delegations were led by the Commerce Secretaries.
The Indian side agreed to provide 10,000 cows in response to a demand from Nepal to meet the
countrys increasing demand for milk and dairy products. The two sides agreed on a 14-point
agenda to enhance trade, promote cooperation and address concerns of the private sector of both
sides. Nepal agreed to adjust the 5 per cent agriculture reforms charge it has been charging on
Indian exports, India agreed to resolve difficulties related to export of Nepali books and
newspapers. The two sides agreed to make institutional arrangements to facilitate third country
import and export to build infrastructure in newly identified customs points. Both sides agreed to
expedite implementation of past agreements and understandings.
Meet/Visit
India-Pakistan DGMO Level Meeting The Directors-General of Military Operations (DGMOs) of
India and Pakistan on December 24, 2013 reiterated the resolve and commitment of both sides to
continue efforts for ensuring ceasefire, peace and tranquility on the Line of Control (LoC).
At the meeting, the first between the DGMOs in 14 years, the two sides resolved to work towards
improved communications between the two by reenergizing existing mechanisms, including their
hotline contact. The talks between the two military officials, held at Wagah in Pakistan, came at the
end of a year of extraordinary tensions along the LoC threatening the 10-year-old ceasefire.
Maldivess Presidents Visit to India Maldives President Abdula Yameen Abdul Gayoom reached
New Delhi on January 01, 2014 on a state visit. India on January 2, 2014 offered Maldives an enhanced
security grid, more defence equipment as well as subsidised petroleum in return for greater investment
opportunities to its companies which have had a rough time in the island nation of late.
Bills
The Lok Sabha passes the Lokpal and Lokayuktas Bill 2013, paving the way for establishment of an
ombudsman to fight corruption in public offices and ensure accountability on the part of public
officials, including the Prime Minister, but with some safeguards.
Saudi Arabia Passed Anti-Terror Law Saudi Arabias Cabinet has approved a new anti-terrorism
draft law on 16 December that criminalizes acts that disturb public order, defame the reputation of the
state or threaten the kingdoms unity, raising concerns by activists it could be used to quash political
dissent.


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Mexicos President Signed Energy Reform Law Mexican President Enrique Pena Nieto on 20
December signed into law a sweeping reform that will allow private companies to drill for oil and gas,
and end a seven-decade-long monopoly held by the state oil company. Mexico President called the
energy bill a fundamental, historic reform needed for Mexico to speed up the lagging pace of its
economic growth.
Iranian Parliament Votes On Capital Transfer Bill The Iranian parliament on 24 December has
approved a bill that authorizes investigating moving the countrys capital city to a location outside
Tehran.
Cabinet Approved The Rights of Persons with Disabilities Bill, 2011 The Union Cabinet on 12
December approved the Rights of Persons with Disabilities Bill, 2011. The Bill is a comprehensive
measure that covers a whole spectrum of problems from physical disabilities to mental illness and
multiple disabilities. It will replace the Persons with Disabilities (Equal Opportunity Protection of
Rights and Full Participation) Act of 1995. The Bill has been prepared on the basis of recommendations
made by Sudha Kaul Committee.
Law Against Sexual Harassment at Work Place Comes into Effect The Ministry of Women and
Child Development has notified the Sexual Harassment at Workplace (Prevention, Prohibition and
Redressal) Act, 2013 (Act) and the Sexual Harassment of Women at Workplace (Prevention, Prohibition
and Redressal) Rules, 2013 (Rules). As per the notification, the Act has come into force with effect from
9 December 2013. Earlier the Sexual Harassment of Women at Workplace (Prevention, Prohibition and
Redressal) bill received Presidential assent on 22 April 2013.
Cabinet Approved The Prevention of Communal and Targeted Violence (Access to Justice and
Reparations) Bill, 2013 The Union Cabinet on 16 December approved the Prevention of Communal
and Targeted Violence (Access to Justice and Reparations) Bill, 2013. The bill aimed to prevent and
tackle the communal violence in the country and punish the perpetrators of the violence. The Bill has
been named as The Prevention of Communal and Targeted Violence (Access to Justice and
Reparations) Bill, 2013.
Union Cabinet Approves New Code Of Conduct For Ministers The Union Cabinet has on 13
December approved the revision of the Code of Conduct for Ministers in the Government of India as
well as the State Governments. It is now proposed to include a new para in the Code of Conduct which
will read as follows:- Section 2 After taking office, and so long as he/she remains in office, the
Minister shall:- (f) uphold the political impartiality of the civil services and not ask the civil servants to
act in any way which would conflict with the duties and responsibilities of the civil servants.
Cabinet Approves National Skills Qualifications Framework The Cabinet Committee on Skill
Development on 19 December approved the National Skills Qualifications Framework (NSQF), a
quality assurance framework which organizes qualifications according to a series of levels of
knowledge, skills and aptitude. The framework would be anchored and operationalised by the
National Skill Development Agency (NSDA).
Karnataka Assembly Passed Essential Services Maintenance (ESMA) Bill 2013 The Karnataka state
assembly on 4 December passed the Karnataka Essential Services Maintenance (ESMA) Bill 2013.
According to the new bill, striking work will be a non-bailable offence and police can arrest a striking
employee without warrant.
Constitutional Status For JAC - The Union Cabinet on December 26, 2013 gave its nod for conferring
constitutional status on the proposed Judicial Appointments Commission (JAC) for appointment and
transfer of judges to the higher judiciary.
The government earlier accepted the report of the Parliamentary Standing Committee on Law and
Justice, which recommended that the structure and functions of the JAC to replace the present
collegium system be governed by a constitutional provision.
The JAC Bill seeks to set up a six-member body under the chairmanship of the Chief Justice of India
for recommending names to the President of individuals with outstanding legal acumen and
impeccable integrity and credibility for judgeship in the Supreme Court and the High Courts. It
would also recommend transfer of judges of one High Court to another.


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The Constitution (120
th
Amendment) Bill, 2013, provides for the setting up of a Judicial
Appointments Commission by inserting Article 124 (A) in the Constitution and amending Articles
124 (2), 217 (1) and 222 (1).
Amendments The committee, while suggesting amendments to the Bill, said there should be three
eminent persons in the commission, instead of two as provided for in the present Bill, and at least one
out of them should be an SC/ST/OBC/woman/ minority, preferably by rotation.
Considering the responsibility of the JAC to select 800-odd judges to 24 High Courts, and also the fact
that constitutional and other functionaries are involved at the State-level in the process of appointment,
it suggested State-level commissions also.
On Sound Footing
The Judicial Appointments Commission, once created, will replace the collegium system of
appointments to High Courts and the Supreme Court.
Article 124 (2) of the Constitution will be amended to suggest that the President shall appoint
judges on the recommendation of the JAC.
The Constitution (120
th
Amendment) Bill, 2013, introduced by the UPA government in
Parliament, suggests the JACs composition will be determined by an ordinary law.
This law the Judicial Appointments Commission Bill, 2013 suggests the JAC will consist of
three Supreme Court judges, the Union Law Minister, the Law Secretary as its Convener, and
two eminent persons appointed by a body comprising the Prime Minister, the Leader of the
Opposition and the Chief Justice of India.
As per the Cabinets decision, however, the composition as well as functions of the JAC will be
incorporated in the Constitution.
This will ensure the JACs terms can be modified only through a constitutional amendment
requiring a two-thirds majority in Parliament, as opposed to an ordinary law which requires a
simple majority.
West Bengal New Anti-Ponzi Scheme Bill Passed - The West Bengal Assembly on December 12,
2013 passed a fresh anti-ponzi scheme Bill, incorporating provisions like attachment of property in case
of default in payment of deposit and transfer of property.
The West Bengal Protection of Interest of Depositors in Financial Establishments Bill, 2013 was
passed withdrawing a similar one cleared by the state government on April 30, 2013, which the
Centre had retuned after raising certain objections.
The fresh Bill was moved in the House by the state Finance Minister Amit Mitra incorporating four
provisions as suggested by the Union Finance Ministry, which would give the government more
teeth to tackle the menace of chit funds.
What is most important about the Bill is that it has given the power to the state government to
attach properties of not only a chit fund but also a person who has defaulted on repayment of a loan
he or she has taken from the company. It will cover lakhs of agents who had duped people of lakhs
of rupees and have fled.
Fund
Rs.6600 Crore Interest Free Loans for Sugar Mills The centre on December 19, 2013 announced to
give Rs.6600 crore interest free loans for sugar mills.
In a major initiative to end the face-off between the sugar industry and farmers, an informal Group
of Ministers (GoM) headed by Agriculture Minister Sharad Pawar on December 6, 2013
recommended a financial package to millers, which includes an interest-free loan of Rs.7,500 crore
to pay off arrears. The loan can be repaid in five years with a moratorium of two years.
The arrears stood at Rs.5,064 crore in 2012-13.
After a two-hour meeting with invited Chief Ministers of major sugar-growing States, the GoM
agreed on interest subvention of 12 per cent on the Rs.7,500-crore loan. Of this, 5 per cent will be
borne by the Centre and 7 per cent will come from the Sugar Development Fund under the Ministry
of Food. Each mill can avail itself of a loan under this arrangement equivalent to the average excise
duty paid by it.


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The Cabinet Committee on Uttarakhand (CCU) approves a package of Rs. 7.346 crore for the flood
ravaged Uttarakhand.
Rs.117 Crore Non-Plan Budgetary Support For Eleven Sick CPSEs - The Cabinet Committee on
Economic Affairs (CCEA) on December 26, 2013 approved nonplan budgetary support of Rs.116.86
crore for the payment of statutory dues such as provident fund, gratuity, pension, employees state
insurance and bonus as well as salaries and wages at eleven sick or loss-making central public sector
enterprises (CPSEs) under the Department of Heavy Industry.
Economy
External Debts Drops According to the official data released on December 31, 2013 the cover
provided to Indias total external debt stock by foreign exchange reserves dropped from 73 per cent at
end-March to 69.3 per cent at end-September. The total external debt stock stood at $ 400.3 billion at
end-September, or $ 9 million less than that at end-March.
The prudent external debt management policy of the Government of India has helped in containing
rise in external debt and maintaining a comfortable external debt position.
EXTERNAL DEBT
(in $ billion)
Variation (%)
At the end of Total debt
Corresponding quarter Previous quarter
March 2012 360.72 13.5 4.5
June 2012 363.86 9.9 0.9
September 2012 381.37 11.8 4.8
December 2012 394.10 14.2 3.3
March 2013 400.26 11.0 1.6
June 2013 400.62 10.1 0.1
September 2013 400.25 5.0 -0.1

India, Japan Raise Currency Swap Limit - India and Japan, on December 18, 2013 tripled the limit for
the currency swap arrangement to $50 billion. The Government of India approved the enhancement of
the bilateral currency swap arrangement between the Reserve Bank of India (RBI) and the Bank of
Japan from $15 billion to $50 billion. This measure will further strengthen the bilateral financial
cooperation between Japan and India.
The countrys largest power producer, NTPC Ltd, which has announced its bond issue to raise up to
Rs.1,750 crore opened on December 3, 2013. Coming after a gap of 20 years, NTPCs bond issue offers a
tax-free return of between 8.66% and 8.91% to retail investors on investment of up to Rs.10 lakh and
with a tenure of 10,15 or 20 years.
Companies/Industry
Wipro on December 2, 2013 announced the acquisition of US-based BPO firm Opus Capital Market
Consultants for $75 million (about Rs.467 crore) as the software services major seeks to strengthen its
mortgage business in North America.
The acquisition would aid Wipro in managing risks and identifying profitable growth opportunities
as it creates an end-to-end offerings for all mortgage players in the existing loan portfolio.
Set up in 2005, Illinois-based Opus offers mortgage due diligence and risk management services and
employs over 490 employees.
Torrent Buys Elder Ahmedabad- based Torrent Pharmaceuticals, on December 13, 2013 agreed to
buy Mumbai-based Elder Pharmaceuticals branded domestic formulations business in India and
Nepal for Rs.2,004 crore.
FIPB Approval For Vodafone, TESCO Proposals United Kingdom-based Tesco Plc became the first
global retailer to get approval from the Foreign Investment Promotion Board (FIPB) to enter the
domestic multi-brand retail sector.


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The FIPB also, on December 30, 2013 cleared Vodafones Rs.10,141-crore plan to buy out minority
shareholders in its Indian arm. Tescos plans to initially invest $ 110 million in the multi-brand retail
foray, including for the acquisition of 50 per cent stake in Tata group firm Trent Hypermarket Ltd.
As regards to Vodafone, the FIPB has given the go ahead to the British telecom major to buy out
minority shareholders like Ajay Piramal and Analjit Singh in its Indian arm at an estimated cost
Rs.10.141 crore. CGP India Investments Ltd an indirect Mauritian subsidiary of Vodafone
International Holdings BV, had sought FIPB approval to buy the stake held by minority
shareholders in Vodafone India. The FIPB has also approved foreign investment proposals of
Johnson & Johnson.
CIL Gets Approval For CBM Gas Exploration - The Union Cabinet, on December 19, 2013 gave its
approval to allow Coal India Ltd. (CIL) to carry out exploration of coal bed methane (CBM) gas in its
existing mines, a move that will unlock nearly 100 million tonnes of medium grade coking coal and
about one trillion cubic feet (tcf) of gas. Current rules prohibit mining firms from extracting CBM
during mining as the policy does not allow for simultaneous extraction of CBM and coal. CBM
exploration and production is allowed only in pure coal-seam gas bearing blocks, which are auctioned.
Since 2001, 33 CBM blocks have been awarded in four auction rounds. Besides, two CBM blocks to Oil
and Natural Gas Corporation (ONGC) and one to Great Eastern Energy Co Ltd were awarded on a
nomination basis. India has CBM reserves of about 4.6 trillion Cubic metres.
Stock Market
SEBI Makes IPO Norms Simpler - The Securities and Exchange Board of India (SEBI) on December 24,
2013 announced a slew of measures to make fund-raising simpler, and to bring to book those indulging
in illegal money-pooling schemes and other fraudulent activities.
Simpler IPO Norms
No mandatory grading for initial public offerings (IPOs) by credit rating agencies.
Prospectus to remain valid for multiple debt offers in one year.
Non-banking financial companies, housing finance companies and infrastructure debt funds
allowed to file shelf prospectus.
Shelf prospectus enables companies to issue corporate bonds utilising the same documents more
than once, thereby cutting costs and saving time
Companies with a minimum listing of three years, networth of Rs.500 crore and a track record of
continuous profit for three years also allowed to file such prospectus.
Objectives
The move is part of SEBIs effort to boost the dormant primary market by Rs.72,000 crore
SEBI-approved proposals yet to hit the market.
The move also seeks to reduce the reliance on rating agencies, which have recently come under
scanner globally for their role in financial markets.
Other Decisions
More powers for SEBI to conduct search and seizure operations and crackdown on defaulters and
manipulators.
Similar tax treatment for foreign portfolio investors (FIPs), that is currently available for foreign
institutional investors (FIIs).
OVL, OIL Pay $ 2.5 B to Videocon ONGC Videsh Limited (OVL) and oil India Ltd. (OIL) on January
07, 2014 paid $ 2.475 billion to Videocon Group for acquiring 10 per cent stake in a giant gas field off
Mozambique.
Exports/Imports
Export Growth at 3.49% in December 2013 Export growth eased to a six month low of 3.49 per cent
in December mainly due to a fall in the shipment of petroleum goods. It was announced on January 10,
2014.
Exports stood at $ 26.3 billion in December 2013 compared with $ 25.4 billion in the same month of
2012.


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Petroleum exports, which contribute significantly to the countrys trade basket, declined 16 percent
in December 2013.
However, a 15.25 per cent decline in imports to $ 36.4 billion, particularly in gold and silver
shipments, helped narrow the trade deficit to $ 10.1 billion in December. In November, 2013 the
trade gap was $ 9.21 billion.
Inward shipments of gold and silver dipped 68.8 per cent to $ 1.77 billion from $ 5.6 billion in
December 2013, although they were higher than $ 1.05 billion in November.
Oil imports grew 1.1 per cent to $ 13.89 billion during the month. During April-December, exports
aggregated $ 230.3 billion and imports $ 340.3 billion, while the trade deficit was about $ 110 billion.
Gold and silver imports in the April-December period declined 30.3 per cent to $ 27.3 billion from $
39.2 billion a year earlier.
Oil imports in the nine-month period grew 2.6 per cent to $ 124.95 billion, while non-oil imports
dipped 11.1 per cent to $ 215.42 billion.
Export sectors that registered positive growth in December include engineering (15 per cent),
readymade garments (17.39 per cent), chemicals (8.75 per cent), cotton yarn and fabrics (1.42
percent), rice (9.72 per cent) and plastics 21 per cent).
Taxation/Trade
European Union granted GSP-Plus status to Pakistan The European Union (EU) has on 12
December granted GSP-Plus status to Pakistan, a move that is expected to boost the textile and other
industries as it gives exporters duty-free access to 27 European countries. Under this deal 75 Pakistani
products would have duty-free access to European markets. The standard GSP scheme, which offers
generous tariff reductions to developing countries. Practically, this means partial or entire removal of
tariffs on two thirds of all product categories.
Green Signal For Millionaires Tax in France Frances Constitutional Council gave the green light
on December 29, 2013 to a millionaires tax, to be levied on companies that pay salaries of more than 1
million ($1.38 million) a year.
The measure, introduced in line with a pledge by President Francois Hollande to make the rich do
more to pull France out of crisis, has infuriated business leaders and soccer clubs, which at one
point threatened to go on strike.
Space
Mars Orbiter Successfully Placed in Mars Transfer Trajectory Indias Mars Orbiter Mission (MOM)
successfully placed in Mars transfer trajectory on 1 December by ISRO scientists. India has now become
the first Asian country and fourth nation in the world to leap into the interplanetary space. Less than
half the around 50 spacecrafts sent by other countries towards Mars have been able to complete it.
Now, the Mars spacecraft will travel 780 million kilometers (485 million miles) over 300 days (ten
months) to reach an orbit around Mars planet in September 2014.
China launches Moon Rover China launched its first moon rover mission on December 1, 2013. The
Change-3 rocket carrying the Jade Rabbit or Yu Tu rover blasted off from the Xichang Satellite
Launch Center in the southwest of the country.
The 140-kg Jade Rabbit rover separated from the much larger landing vehicle early on December
15, 2013, around seven hours after the unmanned Changee-3 space probe touched down on a fairly
flat, Earth-facing part of the moon.
SPACEX Launches first Commercial TV satellite An unmanned Falcon 9 rocket developed by Space
Exploration Technologies, or Space X, blasted off on December 3, 2013 to put the companys first
commercial satellite into orbit, staking a potentially game-changing claim in a global industry worth
nearly $190 billion a year.
Iran Sent Second Monkey into Space for Second Time Iran has on 14 December successfully
launched its second monkey named Fargam into the space and back, the countrys latest step toward
sending humans into orbit. The monkey was flown on Irans liquid-fueled Pajohesh (research) rocket


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for a 15-minute mission that took him approximately 72 miles into space. The first rocket carrying a
monkey named Pishgam (Pioneer) in the space was launched by Iran on 28 January 2013.
Europe Launched Gaia Satellite To Map Milky Way The European Space Agency (ESA) launched
its star-surveying satellite Gaia into space on 19 December. Gaia lifted on a Soyuz rocket from Europes
Spacesport from the Kourou in French Guiana.
The first Trajectory Correction Manoeuvre (TCM) of Spacecraft of Indias maiden interplanetary
mission to Mars was carried out successfully.
Indias Geosynchronous Satellite Launch Vehicle (GSLV-D5), powered by an indigenous cryogenic
engine, effortlessly puts the 1,982-kg GSAT-14 communication satellite into a perfect orbit after lifting
off from Sriharikota.
GSLV-D5 Puts GSAT-14 INTO ORBIT One of Indias most ambitious dreams became a reality on
January 5, 2014 when its Geosynchronous Satellite Launch Vehicle (GSLV-D5), powered by an
indigenous cryogenic engine, effortlessly put the 1,982-kg GSAT-14 communication satellite into a
perfect orbit after 17 minutes of flight.
Science and Technology
Human DNA from 4,00,000 years ago Discovered In Spain In the month of December 2013 Scientists
have discovered a fossilized leg bone from an early 4,00,000 year old human in the Pit of Bones site
in spain and the bones DNA opens a new mystery into our human ancestors. DNA tends to breaks
down over time, but the leg bone has been well preserved in the Spanish bit of bones because of the
constant temperature.
Indian Coast Guard Patrol Vessel Rajdhwaj Commissioned Indian Coast Guard Ship Rajdhwaj, a
50 metre-long inshore patrol vessel (IPV), was commissioned on 11 December in Chennai by Shipping
Minister G.K. Vasan. The IPV is equipped with the most advanced and sophisticated navigational and
communication sensors and equipment. The ship can be propelled sensors and equipment. The ship
can be propelled to a maximum speed of 31.5 knots. At economical speed of 14 knots, it has an
endurance of 1,500 nautical miles. The ship is the eighth in the series of IPVs designed and built by
Garden Reach Shipbuilders Engineers, Kolkata.
First Human Artificial Heart Implanted In France The first human artificial heart implantation
performed in Georges Pompidou Hospital, Paris on 18 December was successful. The artificial heart
designed by the French biomedical heart designed by the French biomedical firm Carmat and
developed by the Dutch based European Aeronautic Defence and Space Company (EADS). The
artificial heart give patients up to five years of extra life, which replaces the real heart. The previous
heart assistance devices are created mainly for temporary use. The artificial heart weighs as little as less
than a kilogram (900 grams), almost three times heavier than an average healthy human heart.
Health/Nutrition/Diseases/Drugs
Uruguay Becomes Worlds First Country To Legalize Marijuana Trade Uruguay has become the
first country in the world to make it legal to grow, sell and consume marijuana. In this regard Uruguay
senators gave the approval for government sponsored bill on 10 December. According to the new law-
Registered Uruguayans over the age of 18 will be allowed to buy up to 40 grams of the drug a month.
The Indian High Commission in Pakistan issues an advisory that all adults and children traveling to
India from Pakistan after January 30, 2014 are required to obtain Oral Polio Vaccination (OPV) at least
six weeks prior to their departure to India.
Energy/Gas/Oil
ICA gives go ahead to Kishenganga project The Hague-based International Court of Arbitration has
allowed India to go ahead with construction of the 330-MW Kishenganga hydro-electric project in
North Kashmir which was in dispute with Pakistan.


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In its final order delivered on December 20, 2013 the court upheld Indias right under the bilateral
Indus Waters Treaty to divert waters from the Kishenganga for power generation in Jammu and
Kashmir.
Dabhol-Bangalore Natural Gas Pipeline Dedicated to Nation Prime Minister of India Dr.
Manmohan Singh dedicated GAILs 1000 km Dabhol-Bangalore natural gas pipeline to the Nation on
December 3, 2013 during the inauguration of the 8
th
Asia Gas Partnership Summit (AGPS) Bangalore.
The Dabhol-Bangaluru pipeline connects South India to the national gas grid for the first time.
Pipeline has been constructed at an investment of Rs.4500 crore with a design capacity of 16
MMSCMD of natural gas which can produce 3000 MW of clean energy.
The pipeline starts at Dabhol in Maharashtra and passes through Belgaum, Dharwad, Gadag,
Bellary, Devanagere, Chitradurga, Tumkur, Ramanagaram, Bengaluru Rural and Bengaluru Urban
districts.
Russia Begins Pumping in the Arctic Russia has announced the start of offshore oil production in
the Arctic, upstaging its Western rivals in the rush for the regions energy riches.
Russias natural gas monopoly Gazprom on December 20, 2013 began pumping oil at its first Arctic
offshore platform at the Prirazlomnoye field in the Pechora Sea. Gazprom became the first company
in the world to launch commercial production oil from under the Arctic waters.
New Norms For Mega Power Projects The Government on January 2, 2014 moved to ease conditions
that could make it easier for large power projects under an ambitious programme to create electricity
generation capacity in the nation, which have been mired in problems related to fuel linkages or state-
level approvals.
The Cabinet Committee on Economic Affairs (CCEA) relaxed norms for 25 Ultra Mega Power
Projects (UMPP) by increasing the time period for them to submit mega project certificates to tax
officials. The certificates must show how far they have come in procuring coal and buying or
importing the necessary equipment.
Changed Norms
Duty-free equipment imports for thermal power projects of 1,000 MW, and above, capacity and
hydro power projects of 500 MW and above.
The developer must tie up Atleast 65% of the installed capacity through competitive biding.
The remaining 35% of the installed capacity should be through the regulated tariff according to
the host states policy.
The Cabinet Committee on Economic Affairs has also approved construction of a 220-kv
transmission system from Alusteng in Srinagar to Leh.
Global Solar Power Capacity To Reach 43000 MW - The solar power capacity addition is projected to
be around 43,000 MW worldwide in 2014 with China likely to lead the pack with a planned capacity of
around 10,000 MW, according to a report by global consulting firm Mercom Capital Group. India is
expected to add about 1,800 MW of solar energy capacity in 2014.
Environment
UN Report On Climate Change The report of the Working Group II of the U.N. Intergovernmental
panel on climate change (IPCC) was leaked online. The final draft has been sent to all governments for
review and comment before the report is finalised.
Impacts of Climate Change The UN scientific panel on existing and future risks to Asia from climate
change
Extracts from the final draft of Working Group II report of the IPCC
50% Indo-Gangetic Plains could see a decrease in agro yields of about 50% in the most favourable
and high yielding wheat area due to heat stress.
More frequent and intense heat-waves in Asia will increase mortality and morbidity in vulnerable
groups.
Increase in heavy rain and temperature will increase the risk of diarrhea diseases, dengue fever and
malaria.


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In India changes are project in more than a third of the forest area by 2100, mostly from deciduous
to evergreen forest.
Current temperatures are already approaching critical levels during the susceptible stages of the
rice plant in North India in October, South India in April and August and East India in March-June.
Doubling of carbon dioxide leads to a 51% decrease in the most favourable and high yielding agri
area due to heat stress. About 200 million people would experience adverse impacts.
In India, the estimated countrywide agricultural loss in 2030 of over $ 7 billion will severely affect
the income of 10% of the population. This could be reduced by 80% if cost effective climate
adaptation is done.
People living in low-lying coastal zones and flood plains are most at risk from climate impacts in
Asia.
Films/Film Festival
Tamilnadu Chennai International Film Festival The Eleventh Edition of the Chennai International
Film Festival got off to a glittering start at a star-studded event in the city on December 12, 2013. It
witnessed the coming together of iconic Tamil actor film-maker Kamal Haasan and Hindi film star and
path-breaking television anchor, Aamir Khan. A total of 163 films from 58 countries were screened at
the Festival which ended on December 19, 2013.
The two days fourth edition of Asias first and only poetry film festival, the Sadho Poetry Film Festival
opens in New Delhi.
Appointments/Election
Arup Raha Air Marshal Arup Raha, 59, an ace fighter pilot, is the next Indian Air Force Chief,
succeeding Air Chief Marshal NAK Browne, who is retired on December 31, 2013. Mr. Raha will have
three year tenure as Chief of the Air Staff.
Assembly Elections 2013
The Assembly elections were held in Madhya Pradesh, Chhattisgarh, Rajasthan, Delhi and Mizoram in
November, December, 2013. The results of four states except Mizoram were announced on December 8,
2013.
Chhattisgarh The BJP registered a thumping victory by winning 49 of the 90 seats during the 2013
assembly elections. Raman Singh retained his Rajnandgaon Assembly constituency by defeating
Congress candidate Alka Mudliyar. Raman Singh is the fourth Chief Minister of the state.
Madhya Pradesh Chief Minister Shivraj Singh Chouhan led BJP to an emphatic win in the
Assembly Elections. Shivraj is the 18
th
and current Chief Minister of Madhya Pradesh.
Rajasthan Vasundhara Raje led BJP to a glorious win in the Rajasthan Assembly elections. She is
the first woman chief minister of Rajasthan state in 2003. She is the 22
nd
chief minister of the state.
Delhi - Aam Aadmi Party leader Arvind Kejriwal is sworn in as the Delhi Chief Minister along
with his six Cabinet colleagues by the Lieutenant Governor Najeeb Jung at the historic Ramlila
Maidan, New Delhi. He has sworn in as the youngest Chief Minister of Delhi. He is of 45 years in
age.
Council of Ministers:
Arvind Kejriwal: Home, Finance, Vigilance, Services, Planning and Power
Manish Sisodia: Education, PWD, Urban Development, Local Bodies, Revenue and Land &
Building
Somnath Bharati: Administrative Reforms, Tourism, Law, Art and Culture
Satyendra Jain: Health, industries, Gurudwara Elections
Rakhi Birla: Women & Child Development, Social Welfare, Languages
Saurabh Bhardwaj: Food and Supply, Transport, Environment, Elections, General
Administration
Girish Soni: Labour, Development, Employment, Scheduled Caste and Scheduled Tribe
Department.
Mizoram Lal Thanhawla of Congress party won a seat in the Mizoram State Assembly from both
Serchhip and Hrangturzo. He is the 8
th
Chief Minister of Mizoram.


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Lieutenant General Aniruddha Chakravarty, VSM, takes over as the Director General of National
Cadet Corps (NCC).
Sushma Singh Sworn In As New CIC - President Pranab Mukherjee on 19 December administered the
oath of office to former IAS Officer Sushma Singh as Chief Information Commissioner at Rashtrapati
Bhawan in New Delhi. Sushma Singh, who is the fifth Chief Information Commissioner of CIC, is the
second woman to be appointed to the post after Deepak Sandhu, whose term ended on 18 December.
She had joined the CIC as Information Commissioner on 23 September 2009.
Vinod Kumar Duggal Appointed as Governor of Manipur Former home secretary V.K. Duggal was
appointed as the Governor of Manipur on 23 December. He will replace the present Governor of the
state, Ashwani Kumar, who was given an additional charge of Manipur, while being a Governor of
Nagaland. On 31 December Duggal was sworn in as the new Governor of Manipur.
Thailands PM Yingluck Shinawatra Dissolves Parliament Thailands Prime Minister Yingluck
Shinawatra on 9 December formally dissolved the countrys parliament and called for new elections.
The new elections are scheduled to take place on 2 February 2014.
Socialist Michelle Bachelet has been elected as Chiles president on 15 December for a second time by
a wide margin.
Somalias parliament on 21 December approved as the new Prime Minister Abdiweli Sheikh Ahmed,
a political newcomer and economist who faces tough challenges in the war-torn nation.
Nepal Maoists Agreed To Join Newly Elected Assembly The party of Nepals former communist
rebels on 24 December agreed to join the recently elected Constituent Assembly (CA), ending months
of political turmoil to pave the way for a new government and drafting of a fresh Constitution.
Justice D.P. Buch, a retired judge of the Gujarat High Court, was administered the oath of Lokayukta
by Governor Kamla Beniwal at Raj Bhavan in the presence of Chief Minister Narendra Modi on 11
December.
Harsh Kumar Bhanwala has been appointed as the Chairman of the National Bank for Agriculture and
Rural Development (NABARD) on 15 December. Bhanwala succeeds Prakash Bakshi, who retired as
NABARD chairman in September 2013.
Gen Bikram Singh Is The New Chairman of COSC Indian Army Chief Gen Bikram Singh has been
appointed as the new Chairman, Chiefs of Staff Committee (COSC) on 18 December. He Succeeds IAF
Chief NAK Browne. Bikram singh on 30 December took over as the new chairman, chiefs of staff
committee.
Indian-American Nandita Berry Appointed as Texas Secretary of State Indian-born Houston
attorney Nandita Berry has been appointed Texas new secretary of state on 19 December. She succeeds
John Steen. Berrys appointment effective on 7 January 2014. Berry is the first Indian-American to hold
the prestigious post of the chief elections officer for Texas.
Aam Aadmi Party candidate MS Dhir was on January 3, 2014 elected the Speaker of the Delhi
Assembly.
J. N. Chaudhary was appointed as new head of NSG (National Security Guard) on 26 December 2013.
Krishna Iyer: Krishna Iyer was appointed President and CEO of Wal-Mart India. It was announced by
the US retail giant Wal-Mart on 13 December 2013.
P. H. Parekh: Senior advocate P. H. Parekh has been appointed as the President of the Supreme Court
Bar Association (SCBA) for 2013-2014.
S. B. Nayar was appointed as chairman and managing director (CMD) of India Infrastructure Finance
Co. Ltd (IIFCL). IIFCL is a state-owned firm that funds infrastructure projects.
Shivakumar was appointed as the Chairman and CEO of PepsiCo India, The post was lying vacant
since Manu Anand quit the US food and beverage maker PepsiCo India in June 2013 to join food
company Cadbury Kraft.


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Siddharth Birla, Chairman of Xpro India Limited took the charge as the President of Federation of
Indian Chambers of Commerce and Industry (FICCI) on 21 December 2013.
V. Kannan assumes charge as Chairman and Managing Director of Vijaya Bank.
S.K. Sharma takes charge as Chairman and Managing Director of Bharat Electronics Ltd (BEL). He
joined BEL in 1978.
Arvind Ranjan: Arvind Ranjan, a 1977-batch IPS officer of Kerala Cadre, assumed charge as 24th
Director General of the Central Industrial Security Force (CISF) at the forces headquarters in Lodhi
Road in New Delhi on December 26, 2013.
Resignations/Dismissed/Retired/Quit
Sudans Vice President Ali Osman Taha Resigned Sudans Vice-President Ali Osman Taha, a key
figure behind the Islamist-backed coup 24 years ago, has resigned to pave the way for a new
government. His resignation was announced by the Sudanese President, Omar al-Bashir in Khartoum
on 7 December. He resigned and vacated his office at the presidency ahead of his cabinet reshuffle.
Taha has been the first Vice President of Sudan, the second highest political party.
Environment Minister Jayanthi Natarajan Resigned Jayanthi Natarajan resigned as the Minister of
state for environment and forest from the Council of Ministers (COM) on 21 December. Marpadi
Veerappa Moily, the petroleum and natural gas Minister on 24 December took an additional charge of
the Environment and Forests Ministry after the exit of Jayanthi Natarajan.
Chandra Kant Birla: Chandra Kant Birla, Chairman of Hindustan Motors Limited resigned from the
board on 29 December 2013. He also stepped down free the post of director of Hindustan Motors (HM).
G. S. Singhvi: The senior most judge of Supreme Court of India, Justice GS Singhvi on 11 December
2013 retired.
Tunisias Islamist Prime Minister Ali Larayedh resigns as part of a plan to end months of political
deadlock, amid a fresh eruption of social unrest.
Central African Republic President Michel Djotodia resigns under intense pressure over his failure to
stem the sectarian unrest which was ripping his country apart.
Arrests/Jailed/Released
The former Chief Minister of Bihar and Rashtriya Janata Dal President, Lalu Prasad is released from
Birsa Munda jail in Ranchi, two days after the Supreme Court granted him bail in the Chaibasa
treasury case.
Deaths
Nelson Rolihlahla Mandela, the towering figure of Africas struggle for freedom and a hero to
millions around the world, passed away on December 6, 2013 at the age of 95.
First Black President On April 27, 1994, South Africa held its first democratic elections. At 77,
Mandela was appointed as South Africas first black president on May 10, 1994, with de Klerk as his
first deputy. In 1994, he published his autobiography, Long Walk to Freedom.
Mandela has received more than two hundred and fifty awards over four decades. He was the
winner of the Nobel Peace Prize in 1993. In 1990 he was conferred with the Bharat Ratna. He was
the recipient of Mahatma Gandhi peace award in 2001.
Surjit Singh, 58, noted scholar and Director, Institute of Development Studies (IDS), Surjit Singh
passed away in Jaipur on December 4, 2013 at the age of 58.
Farooq Sheikh, 65, best known for his performance in films such as Shatranj Ke Khiladi, Chashme
Buddoor and Umrao Jaan, died of heart attack in Dubai on December 27, 2013.
Union Labour and Employment Minister Sis Ram Ola passes away at the age of 86 in Gurgaon,
Haryana. Sis Ram Ola was a member of the 15
th
Lok Sabha of India.


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The head of the royal family of erstwhile Trivancore, Kerala, Uthradom Tirunal Marthanda Varma,
passes away at the age of 91.
Mikahil Kalashnikov, the Russian gun designer of the fabled AK-47 automatic rifle, passes away at
the age of 94.
Senior leader of the Centre of Indian Trade Unions (CITU) Kali Ghosh passes away at the age of 83.
TC Narendran, internationally known insect taxonomist and recipient of the EK Janaki Ammal
National Award of the Ministry of Environment and Forests, passes away at the age of 69 in
Kozhikode.
Prince of Mysore Srikantadatta Narasimharaja Wodeyar Died Srikantadatta Narasimharaja
Wodeyar, the eighth and the last King of the Mysore Royal Family, died on 10 December in Bangalore.
Maharaja Srikantadatta Narasimharaja Wodeyar Bahadur, also named Srikanta Wadiyar, was the
prince of Mysore Kingdom and the present head of the Wadiyar dynasty that ruled the Kingdom of
Mysore between 1399 and 1950.
Guru Sunderlal Satyanarayan Gangani, a Kathak guru and Sangeet Natak Akademi awardee, passes
away at the age of 84 on 17 December, 2013.
Michiaki Takahashi, who developed a vaccine for the chicken pox virus died ar the age of 85 due to
hear failure on 23 December 2013 in Osaka, Japan.
Swami Nityanand Maharaj, founder secretary of Ramkrishna Vivekananda Mission in Barrackpore
in North 24 Paraganas district in West Bengal, passes away at the age of 82.
Alan Turing Alan Turing, the mathematics genius who committed suicide in 1954 after undergoing
chemical castration for being gay when homosexual activity was a criminal offence in Britain, received
the royal pardon posthumously on December 24, 2013.
Eusebio da Silva Ferreira Known as the Black Panther or simply The King, football legend
Eusebio, who reigned over Portuguese football in the 1960s, bringing glory to both his club Benfica and
his country, passed away on January 5, 2014 at the age of 71.
Awards/Honours
Time magazine named Pope Francis its Person of the Year for 2013 on December 11, 2013, hailing the
head of the Catholic Church as a new voice of global conscience since taking office in March 2013.
Filmmaker Shivendra Singh Dungarpur is selected for the 2013 Bimal Roy Memorial Emerging Talent
Award for his widely appreciated documentary Celluloid Man.
The Union Minister of Social Justice and Empowerment Kumari Selja presents the Helen Keller Award
to Ashish Jha, Nita Panchal, Kajal Dhawan, Bhavanishankar R. Ankit Rajiv Jindal and Kivadasannavar.
Chief Justice of India P. Sathasivam presents the Sangita Kalanidhi MS Subbulakshmi Award to Sudha
Raghunathan at the inauguration of the 87th Annual Conference and Concerts of The Music Academy
in Chennai.
Union Minister of State for Human Resource Development Shashi Tharoor is named the Person of
the Year by the People for the Ethical Treatment of Animals (PETA) India.
Sahitya Akademi Awards 2013: Bollywood lyricist Javed Akhtar, Bengali poet Subodh Sarkar and
Sanskrit poet Radhadant Thakur were selected for Sahitya Akademi Awards 2013 on December 18,
2013.
CK Nayudu Award: Former India captain Kapil Dev received the Col. C.K. Nayudu Lifetime
Achievement Award for 2013 on January 11, 2014.
Malala Received 2013 UN Human Rights prize Pakistan teenage activist Malala Yousafzai has been
conferred the 2013 UN Human Rights Prize.


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General Bikram Singh Awarded The USs Legion of Merit In the month of December 2013 Gen
Bikram Singh has joined the ranks of legendary figures of the Indian Army including Field Marshal
KM Kariappa as he has been awarded the sixth highest American military honour Legion of Merit.
GHIAL Awarded British Safety Councils Sword of Honour Rajiv Gandhi International Airport
(RGIA), operated by GMR Hyderabad International Airport Ltd (GHIAL), has been awarded the
Sword of Honour for safety management. The Sword of Honour is considered to be the Oscar of the
Safety World.
Eminent Indian missile scientist A Sivathanu Pillai has received the highest Russian award Order of
Friendship on 16 December by President Vladimir Putin for his contribution towards strengthening
the ties between the two countries through the successful BrahMos supersonic cruise missile
programme.
The KK Birla Foundation announces that the 23
rd
Bihari Puraskar, 2013 will be awarded to Chandra
Prakash Deval for his Rajasthani poetry collection Hirna! Maun Saadh Van Charna.
The International Cricket Council (ICC) on 9 December announced that Former Pakistan captain
Waqar Younis and ex-Australia wicketkeeper Adam Gilchrist will be inducted into the ICC Cricket
Hall of Fame.
President Pranab Mukherjee presents Indias 25 greatest global Indian living legends awards at the
Rashtrapati Bhavan in New Delhi. The awardees include Dr. Amartya Sen, Amitabh Bachchan, Vikram
Seth, Sachin Tendulkar and others.
15
th
Chief Justice of India P. Sathasivam presents the Sangita Kalanidhi MS Subbulakshmi Award to
Sudha Raghunathan at the inauguration of the 87
th
Annual Conference and Concerts of The Music
Academy in Chennai.
The Asiatic Society, Bihar honours eminent historian Bipan Chandra with Itihas Ratna award for
enriching the technique of secular and scientific writing of history.
The annual International Cricket Council (ICC) awards were announced in Dubai on 13 December.
The list of winners is:-
ICC Cricketer of the Year (Sir Garfield Sobers Trophy) Michael Clarke (Australia)
ICC Test Cricketer of the Year Michael Clarke (Australia)
ICC Womens ODI Cricketer of the Year Suzie Bates (New Zealand)
ICC ODI Cricketer of the Year Kumar Sangakkara (Sri Lanka)
ICC Emerging Cricketer of the Year Cheteshwar Pujara (India)
ICC Associate and Affiliate Cricketer of the Year Kevin OBrien (Ireland)
ICC Twenty 20 International Performance of the Year Umar Gul (Pakistan)
ICC T 20 I Womens Cricketer of the Year Sarah Taylor (England)
ICC Spirit of Cricket Award Mahela Jayawardena (Sri Lanka)
ICC Umpire of the Year (Winning the David Shepherd Trophy) Richard Kettleborough
LG Peoples Choice Award MS Dhoni
Miss Earth 2013 - Venezuelas Alyz Henrich was on 7 December crowned Miss Earth 2013 at the
Versailles Palace, Philippines.
Indian sitar legend Ravi Shankar, who was awarded two Grammy honours earlier in 2013 received a
posthumous nomination in the 56
th
Annual Grammy Awards for his album The Living Room Sessions
Part-2.
Mahatma Gandhis granddaughter Ela Gandhi, Australian senator of Indian origin Lisa Maria Singh
and the Ramakrishna Mission in Fiji are among the 13 recipients of the Pravasi Bharatiya Samman
Award 2014.
Kerala based writer Anees Salim wins The Hindu Prize for Best Fiction 2013 for his second nove,
Vanity Bagh.


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American Hustle wins big at the 71
st
annual Golden Globes in Los Angeles while historical drama film
12 years a Slave takes the coveted best drama Prize. Australian Cate Blanchett wins best Actress
(Drama) award for Blue Jasmine.
Awards at a Glance
Best director for motion picture - Alfonso Cuaron (Gravity)
Best Animated Film Frozen
Best original score Alex Ebert (All is Lost)
Best song from a motion picture Ordinary Love, U2 (Mandela Long Walk to Freedom)
Best foreign language film The Great Beauty
Best TV drama Breaking Bad
Best Actor in a TV drama Bryan Cranston (Breaking Bad)
Best Film (Drama) 12 Years a Slave
Best Actor (Male) Drama Mathew McConaughey, Dallas Buyers Club
Best Actor (Female) Drama Cate Blanchette Blue Jasmine
Best Film (Musical/ Comedy) American Hustle
Best Actor (Male) Musical/Comedy Leonardo DiCaprio (The Wolf of Wall Street)
Best Actor (Female) Musical/Comedy Amy Adams (American Hustle)
Best Actor (Male) In A Mini Series Michael Douglas (Behind the Candlebra)
Sports/Game
MARATHAN Delhi Half Marathan: Atsedu Tsegay of Ethiopia conquered a competitive mens elite
athlete field and also set a new course record to win the Airtel Delhi half marathon on December 15,
2013.
The Results: Men Women
1. Atsedu Tsegay of Ethiopia 1. Florence Kiplagat of Kenya
2. Geoffrey Kipsand of Kenya 2. Gladys Cherono of Kenya
3. Wilson Kiprop of Kenya 3. Lucky Kabuu of Kenya
15. G. Lakshmanan of India 15. Preeja Sreedharan of India
Ugandas Ismail Ssenyange wins his second full marathon in as many years by clocking a time of
two hours 32 minutes and 21 seconds at the Wipro Chennai Marathon.
Cochin Half Marathon: Bernard Kipyego of Kenya grabbed the mens gold in the first Muthoot
Finance Cochin International Half Marathon at the Maharajas Stadium in Kochi on December 29,
2013.
BADMINTON MACAU OPEN GRAND PRIX: P.V. Sindhu continued to take giant strides towards
asserting herself as a rising star in Indian badminton by lifting the Macau Open Grand Prix Gold title
with a thumping win over Canadas Michelle Li in the summit clash in Macau on December 1, 2013.
BWF World Superseries Badminton Tournament Winners 2013
Mens Singles: Malaysias Lee Chong Wei won the Badminton World Federation (BWF) World
Superseries Mens Singles title after defeated Indonesias Tommy Sugiarto in the
final at Kuala Lumpur Malaysia on 15 December.
Womens Singles: Li Xuerui of China won the title. She Defeated Chinese Taipeis Tai Tzu Ying.
National Badminton Championship: Petroleum completed the routine of extending its lease on the
National team badminton titles, for the 15
th
year in succession, after dismissing Air India in just over
two hours in the ATS 69
th
National team badminton championship in New Delhi on December 19,
2013.
Mens Doubles: Pranav Chopra and Akshay Dewalkar beat Manu Attri and Sumeeth Reddy.
Womens Doubles: Jwala Gutta and Ashwini Ponnappa beat Pradnya Gadre and N Sikki Reddy.
Mixed Doubles: Arun Vishnu and Aparna Balan beat K Tarun and Ashwini Ponnappa.


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HOCKEY Junior Men World Cup: Propelled by Niklas Wellens hat-trick, the five time champion
Germany asserted its class and decimated an unheralded France 5-2 in the summit clash in the junior
hockey World Cup at the National Stadium in New Delhi on December 15, 2013.
Final Standing: 1. Germany, 2. France, 3. The Netherlands, 4. Malaysia, 5. Australia, 6. Belgium, 7.
New Zealand, 8. Korea, 9. Pakistan, 10. India, 11. Argentina, 12. South Africa, 13. Spain, 14. England,
15. Egypt, 16. Canada.
Player of the final: Kiklas Wellen (Germany)
Player of the tournament: Christopher Rhur (Germany)
Top scorer: Christopher Rhur
Best goalkeeper: Edgar Raynaud (France)
KABADDI World Cup Kabaddi (Mens): India beat Pakistan 48-39 to emerge champion in the fourth
World Cup Kabaddi in Ludhiana on December 14, 2013. Defending champion India retained the title
for the fourth consecutives term defeating Pakistan by a margin of nine points.
World Cup Kabaddi (Womens): India on 12 December won the womens Kabaddi World Cup
championship for the third time in a row, defeating New Zealand.
GOLF Ganganjeet Bhullar of India bags his fifth career title on the Asian Tour as he completes a
start-to-finish win at the Indonesia Open golf in Jakarta. It is his first title of 2013 and the second in
Indonesia.
ATHLETIC Gayathri Sivakumar, the 12-year old from Kochi, soars to a new meet record in the girls
under-14 high jump event at the 29
th
junior National athletics championship in Bangalore. PU Chitra,
another Kerala athlete, rewrites the meet record in the girls under-20 1500-metre event.
The 17-year old West Bengal girl Swapna Barman sails over the bar at 1.71 metres to better Kavya
Muthannas eight year old National mark of 1.70 metres at the 29
th
junior National athletics
championship in Bangalore.
Four National records and four meet records are established at the 29
th
junior national athletics
championships in Bangalore. Mahashri Baloda of Delhi sets new National mark in the girls under-
14 shot put event.
The 17-year old Athira Surendran of Kerala annexes the girls U-18 triple jump gold with a National
record in the 29
th
junior National athletics championship in Bangalore.
SHOOTING 57
th
National Shooting Championship: Olympic silver medalist Vijay Kumar defends
the 25-metre rapid fire pistol title in the 57
th
National shooting championship at the Dr. Karni Singh
Range, Tughlakabad.
Best Shooters: Men: Vijay Kumar Women: Raj Chaudhary
Men: Women:
50m free pistol: Prakash Nanjappa 10m air pistol: Malaika Goel
25m rapid fire pistol: Vijay Kumar Skeet: Rashmee Rathore
Skeet: Man Singh 50m rifle prone: Raj Chaudhary
Air Pistol: Dharmendra Singh 25m sports pistol: Anita Devi
Free rifle prone: Rakesh Manpat Rifle 3-position: Elizabeth Susan Kosy
Trap: Anirudh Singh Trap: Shagun Chowdhary
Standard pistol: Samaresh Jung Air rifle: Mampi Das
Free rifle 3-position: Sanjeev Rajput Double trap: Shreysi Singh
Double trap: Ronjan Sodhi
Air rifle: Abhinav Bindra
Centre fire pistol: Pemba Tamang
In the Junior Trap shooting, Olympic Silver-medalist Rajyavardhan Singh Rathores teenaged son
Manavaditya clinched double golds.


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Ishan Goel of Uttar Pradesh won Gold in 50m Rifle Prone Junior event with 614.8 score, Navdeep
Singh Rathore (614.1) of Madhya Pradesh clinched Silver and UP Shooter Daniyal Raza Zaidi (611.7)
claimed Bronze.
CHESS GM Samvel Ter Sahakyan of Armenia wins the SERI International Grandmasters chess
championship in Kolkata.
TENNIS Andy Murray, the first British tennis Player to win the Wimbledon in 77 years, is crowned
BBC Sports Personality of the Year, due to his landmark victory against Novak Djokovic in July 2013.
The surprise runner-up was Wales and Lions rugby star Leigh Halfpenny.
The International Tennis Federation (ITF) announced on 18 December that Serena Williams and
Novak Djokovic have been named the 2013 ITF World Champions.
World No. 1 Serena Williams of the USA wins the season-opening WTA Brisbane International
tennis tournament beating Victoria Azarenka.
World No. 1 Rafael Nadal of Spain defeats Gael Monfils of France to win the Qatar Open tennis
title. It is Nadals 61
st
career title.
ARCHERY Deepika Kumari of Jharkhand wins two gold medals in the womans recurve 70 metre
and 60 metre with new National records on the opening day of the 34
th
senior National archery
championship in Jamshedpur.
TABLE TENNIS - ONGC defeats Oil India 3-a to win the womens team title in the all-India public
sector table tennis tournament in Thiruvananthapuram.
WEIGHT LIFTING Junior National Weightlifting Championships The 50
th
mens and 26
th

womens Junior National Weightlifting Championships were organised from December 26 to 29, 2013
in Guwahati. Two national records were set on December 26, 2013.
S. Mirabai Chanu of Manipur set a record in womens 48 kg class snatch clearing 75 kg, which
bettered her own record of 74 kg.
The second record fell to Punjabs Harshdeep Kaur in 53 kg snatch. She lifted 79 kg, one kg better
than M. Santoshi of Andhra Pradeshs record.
Report
India Ranked 94
th
On Global Corruption Perception Index 2013 India was ranked 94
th
among 177
nations in the Global Corruption Perception Index 2013 released by the Transparency International on
3 December. India ranks among the highly corrupt nations and its rank remains unchanged as
compared to 2012.
UNICEFs New Birth Registration Report The United Nations Childrens Fund (UNICEF) released
on 11 December new birth registration report on its own 67
th
birthday underscoring the importance of
counting every child. The new report titled Every Childs Birth Right: Inequities and Trends in Birth
Registration, collects statistical analysis spanning 161 countries and presents the latest available
country data and estimates on birth registration.
Highlights of the Report:-
A UNICEF report finds globally the births of nearly 230 million children under five have never been
recorded, with Asia being the home to more than half of these children (59%). Another 37% live in
sub-Saharan Africa and the remaining 4% are from other regions.
In 2012 alone, 57 million infants, four out of every ten babies delivered worldwide that year, were
not registered with civil authorities.
Among the 10 countries with the largest numbers of unregistered children, India has 71 million, the
most, followed by Nigeria at 17 million. Nearly one in three unregistered children live in India.
Indian Oil Corporation Tops Fortune India 50 List The business magazine Fortunes Indian edition
released its annual list of Fortune 500 Indian companies for 2013, on 10 December. According to the list,
State-run Indian Oil Corporation (IOC) has emerged as the countrys biggest company in terms of
annual revenue of Rs.4,75,867 crore, followed by Mukesh Ambani-led private sector giant Reliance


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Industries (annual revenue of Rs.4,09,883 crore) at the second place. Both IOC and RIL have retained
their top-two ranks from the previous (2012) year.
India 5
th
Largest Exporter Of Black Money The Global Financial Integrity (GFI), a Washington-based
research and advocacy organisation released on 11 December a new survey report titled Illicit
Financial Flows from Developing Countries: 2002-2011. According to the report, India was ranked fifth
largest exporter of illicit money between 2002-2011, with a total of USD 343.04 billion sent abroad, and
in 2011 itself the country was placed third when USD 84.93 billion was exported.
7 lakh Indians Died of Cancer Every Year According to the latest World Cancer Report from the
World Health Organisation (WHO) released on 14 December, nearly seven lakh Indians die of cancer
every year, while over 10 lakh are newly diagnosed with some form of the disease.
Educational Development Index 2012-13 Three Union Territories and three Northeastern states are
in the top 10 of the All-India Educational Development Index 2012-13 released on December 5, 2013 by
the Human Resource Development Ministry and the National University of Educational Planning &
Administration (NUEPA), led by Lakshadweep for a second year in a row, the EDI ranking shows
Puducherry on the second spot and Tamil Nadu at third. Sikkim, Manipur and Mizoram, the three
Northeastern states, clinched 4
th
, 9
th
and 10
th
place respectively. Bihar, West Bengal, Uttar Pradesh,
Goa, and Assam continue to slide down and are at the bottom with Jharkhand hitting the lowest spot
at 35.
The India Labour and Employment Report 2014 Over half of Indias working population in 2011-12
was under the $ 2-per-day poverty line, new research has found, raising serious questions over the
quality of work most Indians find. In fact, the incidence of poverty is higher among the employed than
the unemployed.
Researched and prepared by the Delhi-based Institute for Human Development (IHD), the India
Labour and Employment Report 2014 was released by the Union Rural Development Minister
Jairam Ramesh on December 15, 2013. The report analyses decades, of data up to the 2011-12 round
of the National Sample Survey and presents original research.
A quarter of the workforce is under the official Tendulkar poverty line of Rs.27.20 a day in rural
areas and Rs.33.33 a day in urban areas, according to the IHD report. If a slightly more generous
poverty line of $ 2 per day (at Purchasing Power Parity) is used, the proportion jumps to 58.5 per
cent. While the incidence of poverty is declining among both the unemployed and the employed,
the numbers show that low earning from employment, rather than unemployment, is the main
source of poverty, the report says. Among workers, the incidence of poverty is the highest among
casual workers.
Slum Households in Urban Areas Decreasing The latest National Sample Survey Organization
(NSSO) report shows that the number of slum households in urban areas is coming down. The survey,
conducted between July and December 2012, projected total slum dwellings at 88 lakh, compared to 1.3
crore households in 2011.
The survey findings showed that across the country, 70.8% of households cited better
accommodation as the main reason for which they moved out of slum/squatter settlement whereas
11.7% identified proximity to the place of work as the main reason. The report says that 93.5% of
slums have power supply and 71% have access to drinking water. Similarly there has been
improvement in drainage, sewerage, garbage disposal, primary education and medical facilities
ranging between 15% and 45%, compared to what the situation was like five years ago.
Maternal Mortality Ratio comes Down With the maternal mortality ratio (MMR) number of
women who die of pregnancy-related causes per 1,00,000 live births coming down to 178, India is
inching forward to meet its global commitment to reduce the ratio to 109 by year 2015. The latest MMR
figures for 2010-2012, released by the Registrar-General of India suggest that the MMR had come down
to 178 from 212, an annual decline of 5.7 per cent.
India to Be Third Largest Economy by 2028 Indias GDP will overtake that of Japan in 2028 and
become the worlds third largest economy, according an end-of-the-year report on GDP in the 30


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largest economies in the world by the economic consultancy Centre for Economics and Business
Research (CEBR).
Times Most Admired Persons Microsoft founder Bill Gates has been named as the most admired
person on the planet with cricketing legend Sachin Tendulkar fifth on a list of 30 people compiled
after a poll in 13 countries, including India in January 2014.
General National
The Department of Posts, Ministry of Communications & IT, on 2 December launched an Express
Parcel service and Business Parcel Services for speedy delivery of parcels across the country.
President Pranab Mukherjee on 4 December released a postal stamp and First Day cover on INS
Vikramaditya, the second aircraft carrier that was commissioned in the Navy on 16 November 2013.
The BJP organized runs Race for Unity in Kolkata, Patna, Delhi, Hyderabad, Chandigarh, Jammu and
Jharkhand as part of its nationwide programme to drum up support for Gujarat Chief Minister
Narendra Modis Statue of Unity project on the 63
rd
death anniversary of Sardar Vallabhbhai Patel.
India was chosen as the host country for Under -17 FIFA World Cup in 2017 by the FIFA executive
committee in its meeting at Salvador de Bahia in Brazil.
India terminates the Rs. 3,726crore, scam ridden VVIP chopper deal with Agusta Westland
International Limited (AWIL) on the grounds of breach of pre-contract integrity pact (PCIP).
Approval To Sell Boeing Aircraft To Etihad - The Cabinet Committee on Economic Affairs (CCEA),
on December 26, 2013 approved the proposal by the Civil Aviation Ministry to allow Air India (AI) to
go ahead with the sale of its five long haul Boeing 777 aircraft to Etihad Airways.
US Returns Stolen Indian Idols The United States handover to India of idols worth more than $ 1.5
million stolen from temples in Rajasthan and Bihar.
International
Prince Harry becomes the first British royal to reach the South Pole after a three-week charity trek with
insured military veterans from Britain, the United States, Canada and Australia.
Angela Merkel is sworn in as the Chancellor of Germany for a third term at the helm of Europes top
economy, ending nearly three months of post-election limbo while she bartered with rivals to forge a
grand coalition.
The International Monetary Fund approves the 12
th
and last review of Irelands progress under its
three year rescue program, allowing a final $890 million in support of its financial rebuilding.
Jordan Elected To UN Security Council as a Non-Permanent Member The 193 member UN
General Assembly elected Jordan to the UN Security Council as a non-permanent member on 6
December to replace Saudi Arabia. The election took place in the UN General Assembly. With 179
members of the 193 member General Assembly voting by secret ballot, Jordan received 178 votes
while Saudi Arabia got one vote. Saudi Arabia was elected in October 2013 to the Security Council as a
non permanent member but it has rejected its seat in protest at the UN councils failure to end the war
in Syria and act on other Middle East issues. Jordan will now join with Luthiana, Chile, Nigeria and
Chad as new members of the council, replacing Azerbaijan, Guatemala, Pakistan, Morocco and Togo.
The five permanent members with veto powers are the US, UK, China, France and Russia. Non-
permanent members Argentina, Australia, Luxembourg, the Republic of Korea and Rwanda will
remain on the Council until the end of 2014.
China Formally Eases One Child Policy China has formally approved the easing of its decades-long
one-child policy and the abolition of a controversial labour camp system. Both were among a sweeping
raft of reforms announced in November 2013 after a meeting of the ruling Communist party that
mapped out policy for the next decade. Under the new policy, couples will be allowed to have two
children if one of the parents is an only child. The resolution, formally approved by Chinas largely


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rubber-stamp parliament on 28 December, will allow local legislatures to decide when to implement
the policies.
ICA Allow India To Construct Kishenganga Project The International court of Arbitration (ICA) at
Hague (Netherlands) has allowed India to build Kishanganga Dam in the occupied Kashmir, however,
the neighbouring country has been ordered to provide half of the dams water to Pakistan. Pakistan has
received the verdict of ICA over Kishanganga Hydroelectric project case. On 21 December in its final
award on the India Pakistan arbitration case, the court also decided that India shall release a
minimum flow of nine cumecs (cubic meters per second) into the Kishenganga/Neelam river below
the Kishenganga hydro electric project (KHEP) at all times. Indias 330 MW Kishanganga hydroelectric
project would affect Pakistans 969 MW Nelum-Jhelum hydroelectric project. The issue of minimum
flow was left unresolved by the partial award issued on 18 February 2013.
US Airways and American Airlines Merger Creates Worlds Largest Airline US Airways and
American Airlines officially completed their merger on 9 December, creating the largest airline in the
world and sealing the deal on the last of the airline megamergers that have consolidated the industry
into just a few hands. Now four airlines control nearly 85% of U.S. air travel.
Nepal Impasse comes to an end Nepals political parties, whose differences on the way ahead had
led to a deadlock, reached a four-point agreement on December 24, 2013 paving the way for the
dissenters to join the Constituent Assembly (CA).
The parties have agreed to constitute a parliamentary committee to investigate and submit
suggestions on the questions raised about the CA election.
The parties also agreed to prepare the draft of the new constitution as per the spirit of the 12-point
agreement, the Comprehensive Peace Agreement and the Interim Constitution within six months
and promulgate it in a year.
There was also accord on forming a Truth and Reconciliation Commission (TRC), and a
Commission on Enforced Disappearances. Both of these commissions have been long overdue.
Satellite Images Show Progress On Pak N-Reactor Recent satellite Imagery appears to have
clearly revealed that Pakistan has completed the external construction of its fourth reactor building
at the Khushab nuclear site, 200 km south of Islamabad, a think-tank in Washington has reported.
However images from November 1, 2013 clearly show that in addition to the near-completion of the
fourth reactors external structure, the reactor stack and four of the six auxiliary buildings also
present in reactors two and three appear complete. Further, ISIS noted, two support buildings
located immediately to the west of the reactor building were still under construction but the initial
section of the cooling tower row is also visible and appears about 30 per cent complete.
Egypt Declares Muslim Brotherhood A Terrorist Group Egypts military-installed government
declared the Muslim Brotherhood of ousted president Mohamed Morsy a terrorist group on
December 25, 2013 banning all its activities.
Deputy Prime Minister Hossam Eissa made the announcement. The government would not allow it
to even stage protests.
The decision is likely to accelerate a crackdown on the movement that has killed more than 1,000
people, mostly Islamists, in street clashes and imprisoned thousands since Mr. Morsys overthrow
by the military in July, 2013.
Pakistan Rolls out Indigenous Fighter Plane The Pakistan Air Force (PAF) on December 18, 2013
rolled out its indigenously built 50
th
JF-17 Thunder aircraft which has a top speed of Mach 1.6 and is
dubbed as the backbone of the countrys air defence.
OVL Shuts Down South Sudan Oilfields - Following escalation of violence in South Sudan, Oil and
Natural Gas Corporation Videsh Limited (OVL) shut down its oilfields on December 22, 2013 and has
evacuated its dozed-odd employees to India as a precautionary measure.
China Destroys Confiscated Ivory In an unprecedented move, China on January 6, 2014 publicly
destroyed 6.1 tonnes of confiscated ivory to shed its image as the worlds biggest market for smuggled
elephant tusks and discourage illegal trade and poaching. The public event was held in Dongguan city


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of the booming Guangdong Province in southern China, considered a key area where illegal trade of
ivory is widely reported. The event, the first public ivory destruction in China, was the countrys latest
effort to discourage illegal ivory trade, protect wildlife and raise public awareness.
Indonesia Bans Exports Of Unprocessed Ore With Just months to go for general elections,
Indonesias outgoing President Susilo Bambang Yudhoyono has taken one of his tenures most
significant economic policy decisions, by banning exports of unprocessed mineral ore. The impact of
this decision will roil global industries from aluminium to steel manufacturing.
Irans Nuclear Deal Takes Effect The landmark agreement the Islamic republic of Iran clinched with
world powers on its nuclear programme took effect from January 20, 2014. Iran and the European
Union agreed on January 10, 2014 on how to implement the deal on containing the nuclear programme.
The EU represents the so-called P5+1 group of world powers Britain, China, France, Germany, Russia
and the United States in the decade-long nuclear negotiations with Iran.
Abbreviation
NTRO : The National Technical Research Organisation
RISHTA : The Research and Intervention for Sexual Heath Theory to Action
SAAN : South Asian Autism Network
SARAL : Satellite with ARgos and ALtika
SEVA : Sperm and Egg Voluntary Access
SFIO : The Serious Fraud Investigation Office
SOINN : Self-Organising Incremental Neural Network
SRSAM : Short Range Surface to Air Missile
SVEEP : The Systematic Voter Education and Elector Participation
TRACES : TDS Reconciliation, Analysis and Correction Enabling System
VCES : The Voluntary Compliance and Encouragement Scheme
VVPAT : The Voter-Verified Paper Audit Trail
WSTF : The Water Survival Training Facility
FHLMC : Federal Home Loan Mortgage Corporation
JAXA : The Japan Aerospace Exploration Agency
NNRTI : Non-Nucleoside reverse Transcriptase Inhibitor
USPSTF : The United States Preventive Services Task Force
VCES : The Voluntary Compliance and Encouragement Scheme
Books and Authors
Life After Life by Kate Atkinson
Lean In by Sheryl Sandberg and Nell Scovell
Gulp by Mary Roach
The Inferno by Dan Brown
The Blue-Necked God by Indira Goswami
The Outsider by Jimmi Connors
The Childhood of Jesus by JM Coetzee
The Lonely Monarch by Sunil Gangopadhyay
Oleander Girl by Chitra Banerjee
Indias Tryst with Destiny by Jagdish Bhagwati and Arvind Panagariya
Seeing Like a Feminist by Nivedita Menon
The Lowland by Jhumpa Lahiri
Whiskey Beach by Nora Roberts


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My Beloved World by Soniya Sotomayor
Making Peace with the Earth by Vandana Shiva
Cobalt Blue by Sachin Tendulkar
The Sense of an Ending by Julian Barnes
The Casual Vacancy by JK Rowling
The Wicked Years by Gregory Maquire
An Uncertain Glory: India and Its Contradictions by Jean Dreze and Amartya Sen
My Chaplin by Mrinal Sen
The Moonballer by Nirupama Vaidyanathan
I Lost My Love in Baghdad by Michael Hastings
Degree Coffee by the Yard by Nirmala Lakshman
Half a Rupee Stories by Gulzar
My Name is Parvana by Deborah Ellis
Advantage Hollywood by Ashok Amritraj
Unbreakable by MC Mary Kom (boxer)
Undisputed Truth by Mike Tyson
Helium by Jaspreet Singh
Gaysia by Benjamin Law
Unbreakable: An Autobiography by MC Mary Kom and Dina Serto
My Autobiography by Alex Ferguson
Courage and Conviction by General VK Singh and Kunal Verma
The English Girl by Daniel Silva
Mapping the Edge by Sarah Dunant
The Silent Wife by ASA Harrison
The Golden Egg by Donna Leon
Longbourn by Jo Baker
Just One Evil Act by Elizabeth George
India at Turning Point: The Road to Good Governance by T.S.R. Subramanian
Indias Rise as a Space Power by U.R. Rao