Polo, Indias only gorilla, breaths his last

May 2, 2014

Polo (43), Indias only gorilla, listed as one of the world s critically endangered
species, passed away at the Mysore Zoo (Sri Chamarajendra Zoological Gardens), Karnataka.
The male Western Lowland Gorilla, which was gifted to Mysore zoo by Dublin zoo about 19
years ago, had been ill since over a month.

India conducts successful test of first indigenous air-to-air

Beyond Visual Range (BVR) Astra missile
May 5, 2014
India tested its first indigenous air-to-air Beyond Visual Range (BVR) Astra missile
from a Sukhoi-30MKI fighter jet, marking an important achievement in the development of
complex BVR weapons. Astra will initially provide a 44-km range with high single-shot kill
probability, while its Mark-II version will be able to hit hostile aircraft over 100 km away.
Astra v/s Brahmos Cruise Missile:
India is also likely to initiate testing the 290-km supersonic BrahMos cruise missile from the
heavy-duty Sukhoi-30MKIs by the end of 2014. So, while Astra is being developed to smash
enemy aircrafts, BrahMos will give incisive land-strike capability against hostile targets.
Importance:
Currently, IAF jets are armed with very costly Russian, French and Israeli missiles. These
indigenously developed Astra Missiles are comparatively very cheaper. Only a few
countries like the US, Russia, France and Israel have managed to develop BVR missiles
till now. It is therefore important due to economic and strategic reasons for India to have
an indigenous air-to-air BVR missile like Astra.
Astra missile:

Developer: DRDO

Range: Short range-20 km and Long range-80 km

Type: Beyond Visual Range (BVR) Air-to-Air, all-weather

Special features: Target lock-on capabilities both before and after launch; Advanced
ECCM (Electronic Counter-Counter Measures); Active radar terminal guidance;
Smokeless propulsion; Process improved effectiveness in multi-target scenarios

Foreign Portfolio Investors can invest up to $81 billion in

debt securities
May 5, 2014
As per Indias stock market regulator Securities and Exchange Board of India (SEBI),
Foreign Portfolio Investors (FPIs), a newly created class for overseas investors, will be able
to invest up to $81 billion (close to Rs 4 lakh crore) in government and corporate debt
securities in India.
This would include investments up to $30 billion in government debt and up to $51
billion in corporate debt securities under the new FPI regime, which would come into force
from June 2014. FPIs would also be allowed to invest in unlisted non-convertible debentures
or bonds issued by corporates in the infrastructure sector. Furthermore, FPI can invest in
privately placed bonds if it is listed within 15 days.
Under the new FPI regime:

Investment limit of $30 billion for government securities would include up to $10
billion by Category-I FPIs

All categories of FPIs will be allowed an investment of up to $20 billion in

government debt securities.

For corporate debt securities, the overall cap will be $51 billion, which would include
$2 billion in commercial papers.

FPIs allowed to invest in dated government securities, commercial papers, rupee

denominated credit enhanced bonds, security receipts issued by asset reconstruction
companies, listed and unlisted non-convertible debentures (NCDs) or bonds issued by
an infrastructure firm and NCDs issued by Non-Banking Financial Companies
(NBFC).

FPIs barred from buying short-term government securities the Treasury Bills.
The existing investments in T-Bills by FIIs and other overseas investors converting
into FPIs will be allowed to taper off on maturity or sale.

FPIs have been classified into following 3 categories as per their risk profile:-

Category I: Lowest risk entities comprising foreign government and government-related

foreign investors. Examples are sovereign wealth funds, multilateral agencies, endowment
funds, insurance funds, pension funds and foreign central banks.

Category II Regulated entities, broad-based funds whose investment managers are

regulated, university funds, university-related endowments and pension funds etc.
Category III All other FPIs would come under this category.
Existing overseas investors such as FIIs, sub-accounts and QFIs will have to convert to
the new regime eventually.

Bacillus pumilus SAFR-032 Bacteria from Earth may

contaminate Mars; confuse researchers in future about
origin of life on Mars: NASA
May 5, 2014
NASA has expressed concerns about possible contamination of the Martian surface due
colonization of micro-organisms riding with the space-crafts sent from Earth. These
bacteria could contaminate celestial bodies such as Mars, making it difficult for researchers to
ascertain if a life form actually originated on the site.
Currently, spacecraft landing on Mars or other planets where life might exist must meet
requirements for a maximum allowable level of microbial life, or bioburden. Recent study
has shown that some microbes are tougher than expected and may use various protective
mechanisms to survive interplanetary flights.
For example, spores of Bacillus pumilus SAFR-032 have shown particularly high resistance
to techniques such Ultra-Violet (UV) radiation and peroxide treatment used to clean
spacecraft. These spores were exposed for 18 months on the European Technology
Exposure Facility (EuTEF), a test facility mounted outside the ISS. Surprisingly, some of
the spores pulled through for 18 months.

Ahmed Maiteeq- Libyas youngest and fifth Prime

Minister since dictator Kadhafi was toppled and killed in
2011 uprising
May 5, 2014
Businessman Ahmed Maiteeq (42) of Libyas National Conference has been elected as the
new Prime Minister. Maiteeq defeated his rival Omar al-Hassi, a university professor. It
comes three weeks after former PM Abdullah al-Thinni resigned from the post.
Libya has been grappling with instability since armed groups threw out Muammar Gaddafis
regime in 2011. Maiteeq will have to tackle the lawlessness and insecurity currently
destabilizing the country. He is the fifth Prime Minister to be appointed to lead the
country in the past two and a half years.

Gary Becker, economist and winner of Nobel Prize passed

away
May 6, 2014

Gary Becker (83), a professor in University of Chicago who was conferred the
Nobel Prize in economic sciences in 1992, passed away. He is credited for his path-breaking
approach to economics as the study of human behavior. Becker applied his economic
analysis to a wide array of human behavior and interactions. He also studied issues such as
marriage and divorce, crime and punishment, addiction and household decisions.
Before 1950s, most experts considered habit and often emotion or irrationality as the main
factors in human behavior such as having children or committing crimes. It was Becker who
theorized that human behavior follows the same rational principles, whether it involves a
household, a business or an organization. Although initially his views were received
skeptically, his work influenced sociology, demography and criminology.

Sarvada Vijay: Indian Armys desert exercise conducted

to tests its fighting skills
May 6, 2014
Indian Army conducted Sarvada Vijay combat drill in West Rajasthan as part of regular
training aimed at honing war-fighting skills in temperatures as high as 45 degree Celsius.
Composite infantry and mechanized forces practised swift manoeuvres as part of the air
land battle.
Networked radars, Unmanned Aerial Vehicles and aerial surveillance platforms ensured
continuous flow of information resulting in battlefield transparency which enabled
Commanders to assess and suitably modify their operational plans to meet the emerging
challenges. Mobile communication systems integrated with terrestrial network provided
efficient communication during manoeuvres.

NASA to grow plants on International Space Station (ISS)

May 6, 2014
The US space agency NASA plans to grow plants on the International Space Station (ISS)
by the end of year 2014. Astronauts on board will be able to grow plants with the help of the
Veggie plant pillows taken to the ISS during a recent supply mission. This will be the first
time NASA astronauts will taste something grown in orbit.

Until now, all supplies to the ISS have been transported from Earth. Veggie which is a
deployable vegetable production system is a pop-up greenhouse that can be packaged to the
size of a briefcase during launch. The main obstruction to growing plants in space is the
absence of gravity, since the soil tends to float away. The solution has been to design the
equivalent of something like a grow bag which NASA describes as plant pillows. Two of
the three plant pillows sent to ISS contain seeds for a variety of red romaine lettuce called
Outredgeous, the third has the flowering plant zinnia.

Existence of 117th element Ununseptium (Uus)

confirmed
May 5, 2014
The existence of element 117- Ununseptium (Uus) has been confirmed by the scientists at
the GSI accelerator laboratory in Germany, including those from India, who have created
atoms of the element. This confirmation succeeds the original discovery, made in 2010 by a
joint USRussian team. The atoms were similar to the heaviest atoms ever observed, 40%
heavier than an atom of lead. The discovery marks a significant advancement towards the
capability to observe still more long-lived super-heavy nuclei, as expected to exist on the
Island of Stability of super-heavy elements.
Ununseptium(Uus)

Chemical Symbol: Uus

Atomic number: 117

CAS ID: 87658-56-8

Chemical series: Period 7 element, Halogen

Super-heavy elements: Elements with atomic number greater than 104 are referred to as
Super-Heavy Elements. Although super-heavy elements have not been found in nature, they
can be created by accelerating beams of nuclei and shooting them at the heaviest possible
target nuclei. Fusion of two nuclei a very uncommon event at times produces a superheavy element. Those currently accessible generally only exist for a short time.
Island of Stability: A theoretical concept of Nuclear Physics first propounded by Glenn T.
Seaborg in the late 1960s. As per this theory, the island of stability is a set of as-yet
undiscovered heavier isotopes of transuranium elements which are supposed to be much more
stable than some of those closer in atomic number to uranium. Specifically, they are expected
to have radioactive decay half-lives of minutes or days, with some researchers expecting halflives of millions of years.
Utility of this Experiment and discovery: The successful experiments on element 117 are
an important step on the path to the production and detection of elements situated on the
island of stability of super-heavy elements.

Rising NPAs is making public sector banks unfit for

private Provident Fund deposits
May 8, 2014
Surging Non-Performing Assets (NPAs) have rendered public sector banks such as State of
India (SBI), Punjab National Bank (PNB) and Canara Bank unfit to take deposits from nongovernment Provident Funds (PF). As per the current rules governing investments by PFs,
non-government Provident Funds (PF) are barred from being deposited in a commercial bank
in case the NPAs of that bank exceed 2% of net advances. The Indian Banks Association
(IBA) has requested the Union Finance Ministry to relax the norms pertaining to deposits by
non-government provident funds and gratuity funds in scheduled commercial banks.
Conditions banks are required to meet for taking PFs deposits:

Continuous profitability for immediately preceeding three years

Maintain minimum capital adequacy of 9%

Have net NPAs of not more than 2% of net advances

Maintain minimum net worth of not less than Rs 200 crore

Govts nod not required to investigate corruption charges

on senior bureaucrats: Supreme Court
May 8, 2014
As per the Supreme Court, the legal provision which makes approval of competent authority
mandatory for CBI to investigate a corruption case against an officer of joint secretary-rank
or above is invalid and unconstitutional and has the propensity of protecting the corrupt. The
judgement was delivered after the court examined Section 6A of the Delhi Special Police
Establishment Act (DSPEA), which shields top bureaucrats from being probed in corruption
cases without prior approval.
Key observations in the judgment by the SC:

The requirement of Central Governments approval to probe corruption charges

against officer of the rank of joint secretary and above under the Prevention of
Corruption Act (PCA), is invalid and violates Article 14 of the Constitution.

Equal treatment of corrupt public servants for the purpose of inquiry of offence under
the PCA, irrespective of the rank they hold.

Prior approval under Section 6A would result, indirectly, in obstructing the probe and
if the CBI is not allowed to carry on the preliminary inquiry how the investigation can
proceed.

The issue of protection from inquiry against senior bureaucrats had come under the scanner
of the SC 17 years ago when the Centres argument was scrapped that being policy makers,
they required protection from frivolous complaints. The first petition in filed in 1997 had
contested that execution of criminal law gets affected due to the presence of Section 6A in the
statute.

Excavation suspended at Keralas Padmanabhaswamy

Temple
May 6, 2014
Excavation activities which were being conducted by the Kerala Archeology Department to
study the underground granite pavements, paths and artifacts at the Vadakke Nada (north
entrance) of the treasure rich Padmanabhaswamy Temple at Thiruvananthapuram have
been suspended by the five-member temple management committee.
The panel, constituted as per instructions of the Supreme Court, put the excavations on halt
because of security reasons.
The temple grabbed worldwide attention when gold, precious stones, historical coins and
other articles which are worth over Rs 120,000 crore were found stored in the six secret
vaults (Kallaras) inside the temple on July-August, 2011. In this context the security cover of
the temple was beefed up.
Recently, on the basis of a report of Gopal Subramaniam, amicus curiae appointed to look
into the affairs of the temple, the apex court had ordered dissolving of the traditional temple
management committee controlled by a representative of the former royalty of Travancore,
the erstwhile custodians of the shrine and everything in it.
The apex court had advised the setting up of a new five-member temporary management
panel headed by the district judge. The amicus curiae had found discrepancies in temple
management. He also suspected pilferage of invaluable articles stored in the temple vaults.

Finance Ministry: Withdrawal of fiscal stimulus

programme in US will not affect much the foreign
investments into India
May 6, 2014
The Finance Ministry has tried to lessen fears that the withdrawal of fiscal stimulus
programme in the US will affect foreign investments into India. A report by the Finance
Ministry alleviates the fears saying India is an attractive destination with its liberal FDI
policy, a globally competitive workforce, a rapid GDP growth rate and rapidly growing
market and has remained the third most preferred nation for FDI since 2010.
The US has already begun tapering of its Quantitative Easing (QE) or fiscal stimulus
programme. In 2013, capital markets and currencies across the world, including India,

witnessed knee-jerk reactions at the news of QE reduction by the US Federal Reserve. The
US Fed had been purchasing bonds worth $80 billion a month to stimulate its economy after
the 2009 global financial crisis. It has now started trimming the amount in a phased manner
prompting concerns that the step will slash investments into countries like India.
FDI into India, estimated as the sum total of equity inflows, reinvested earnings and other
capital, was $46.55 billion in 2011-12 and $34.29 billion in the following fiscal. In 2013-14,
the inflows stood at $28.8 billion for the period of April-January.

El Nino effect may shrink Indias GDP by 1.75%:

Assocham
May 10, 2014
As per a report by the Associated Chambers of Commerce and Industry of India
(ASSOCHAM), the 5% deficiency in rains due to possible El Nino factor in this monsoon
could impact Indias Gross Domestic Product (GDP) by 1.75% in the 2014-15 fiscal,
affecting lakhs of unskilled jobs. Rain deficit could also impact food inflation, which has
always been a concern to policy makers. The loss to the GDP of about 1.75 % would be
equivalent to around Rs 1,80,000 crore.
Indian agriculture in heavily dependent on rains as about 60% of net sown area of the country
is rain-fed. With every 1% deficit in rains, the countrys GDP plummets by 0.35%.
Therefore, a good agricultural output is a must for India to increase demand for services and
industrial products.
India is forecasted to have below normal monsoon in 2014 with Meteorological department
predicting 95% rainfall because of the El-Nino effect, which is generally linked with the
warming of ocean water.

Maintain status quo on INS Vikrant: Supreme Court

May 8, 2014
The Supreme court has ordered maintenance of status quo on Indias first aircraft carrier INS
Vikrant, which is on the brink of being converted into scrap. The court has issued notices to
Ministry of Defence and other authorities concerned on the petition. The petition challenges
the Bombay High Court decision which quashed the plea to preserve INS Vikrant by
converting it into a maritime museum. The Indian Navy in March 2014 had auctioned INS
Vikrant to the highest bidder, a Mumbai-based Ship breaking company IB Commercial
for Rs 63 crore, much above its reserve bid of Rs 3 crore. As per the deal, the ship will be
dismantled part-by-part and will be sold as lucrative scrap.
Click Here for related NEWS on INS Vikrant

RBI allows minors over 10 years to operate bank accounts

May 8, 2014

As per the guidelines issued by the RBI, minors above 10 years of age have been allowed to
open and operate independently savings bank account and use other facilities like ATM and
cheque books. The central bank has taken this step with a view to promote financial inclusion
and bring uniformity in opening of such accounts in banks. Earlier, minors were allowed to
open fixed and savings deposit bank account with mothers as guardian.
As per the modified guidelines by RBI:

All minors can now open a savings/fixed/recurring bank deposit account through
either his/her natural guardian or legally appointed guardian.

The minors, who have attained 10 years of age, will be permitted to open and operate
savings bank accounts independently.

The banks can also decide on the minimum documents which are required for opening
of accounts by minors.

The minor would be required to confirm the balance in his/her account as he attains
majority.

If the account is operated by the natural/legal guardian, fresh operating instructions

and specimen signature of the minor will be obtained and kept on record for all
operational purposes.

Dont levy penalty if minimum balance is not maintained

in bank account: RBI to banks
May 8, 2014
The RBI has asked banks not to impose penalties on customers who dont maintain a
minimum balance in any dormant account as part of a consumer protection initiative. A
number of banks, including the State Bank of India, do not levy any penalty if the minimum
balance is not maintained in an inoperative savings account. In 2012, the RBI directed banks
not to charge customers for non-operation or activation of basic savings bank deposit
accounts.

Do not charge penalty on pre-payment of floating loans:

RBI to Banks
May 10, 2014
The RBI gave relief to borrowers as it directed banks not to levy any penalty on individual
borrowers for pre-payment of floating loans. The central bank has barred banks from
imposing foreclosure charges or pre-payment penalties on all floating rate term loans
sanctioned to individual borrowers, with immediate effect.

Floating loan products include housing, corporate, vehicle and personal loans. Some banks
are charging pre-payment penalty of up to 2% of the outstanding loans.
In 2012, RBI had disallowed banks from charging foreclosure charges or pre-payment
penalties on home loans on floating interest rate basis. It is assumed that elimination of
foreclosure charges or prepayment penalty on home loans will bring down the discrimination
between existing and new borrowers and the competition among banks will result in better
pricing of home loans with the floating rate.

Indian Navy operationally deploys INS Vikramaditya

May 10, 2014
As per the announcement made by Chief of the Naval Staff Admiral Robin Kumar
Dhowan, the newly inducted aircraft carrier, INS Vikramaditya, is now operationally
deployed and its integral MiG-29K fighters have been fully integrated with the carrier. The
44,500-tonne aircraft carrier bought from Russia at a cost of $2.33 billion had arrived in India
in January, 2014 and is positioned at Karwar in Karnataka.
Also, INS Vikrant, the first indigeneously built aircraft carrier being built at the Cochin
shipyard, will be ready for trials in 2017 and for delivery by 2018-end.
Click Here for more on INS Vikramaditya

Thailand court sacks PM Yingluck Shinawatra

May 10, 2014

The Prime Minister of Thailand, Yingluck Shinawatra and several

cabinet ministers have been ordered to resign by the Constitutional Court of the country. The
court ordered that Ms Yingluck acted illegally when she transferred her national security
chief Thawil Pliensri to another position in 2011. The order has come after months of
political impasse. Anti-government protesters have been trying to topple Ms Yingluck regime
since November 2013. The remaining cabinet members have nominated the commerce
minister to replace Ms Yingluck. Ms Yingluck had been accused of abuse of power in
improperly transferring Thawil Pliensri, her national security chief appointed by the
opposition-led administration, in 2011.
Political situation in Thailand:
Thailand has been undergoing a power struggle since Ms Yinglucks brother, Thaksin
Shinawatra who was PM was thrown out in 2006 by a military coup. Mr Thaksin and his
family are detested by some urban and middle-class elites who accuse them of corruption and
abuse of power. But Mr Thaksins policies hugely popular in rural areas won both the

elections since the coup have returned Thaksin-allied governments to power. Court rulings
have, in the past, been a key factor amid political turmoil in Thailand.

SC upholds constitutional validity of Right to Education

Act
May 10, 2014
The constitutional validity of Right to Education Act (RTE Act) has been upheld by the
Supreme Court. RTE Act mandates that 25% seats in all schools be reserved for the
economically disadvantaged children.
As per the Supreme Court decision:

The 93rd Amendment Act, 2005, inserting clause (5) in Article 15 enables the State to
make special provisions for members of the SCs, STs and socially and educationally
backward classes, for admission to all educational institutions, including private
unaided institutions, but except minority institutions, did not violate basic structure
of the Constitution.

The RTE Act will not be applicable to minority schools, whether aided or
unaided. The minority aided educational institutions could not be compelled to
provide free and compulsory education to children belonging to weaker sections.

Articles 15(5) and 21-A of the Constitution in so far as it relates to unaided

educational institutions to provide compulsory education for children in the age group
of 6 to 14 years are constitutional.

The 93rd Constitutional Amendment Act, 2005, is in line with the socialistic
aspirations mentioned in the Preamble and the directive principles of the Constitution
and to ensure the progress of the weaker sections in the democratic state, aiming at the
egalitarian ethos.

Provisions of the Right of Children to Free and Compulsory Education Act, 2009, and the
Right of Children to Free and Compulsory Education Rules, 2010, are valid.

Supreme Court allows Tamil Nadu to raise Mullaperiyar

height
May 10, 2014
The Supreme Court has given permission to Tamil Nadu to raise the height of a 116-year-old
Mullaperiyar Dam from 136 feet to 142 feet quashing the objections raised by Kerala which
opposed the move citing safety concerns of the dam and nearby areas.
The decision marks second consecutive defeat for Kerala as on February 27, 2006 the court
permitted Tamil Nadu to raise the dam height and carry out necessary repairs setting aside

Keralas objections on safety. A month after the judgment, Kerala passed a law Kerala
Irrigation and Water Conservation (Amendment) Act 2006 fixing the full reservoir level
of dam at 136 feet.
Tamil Nadu challenged the constitutional validity of this law that has now been declared null
and void by the apex court. The court was fully satisfied that the dam was safe after an Expert
Committee submitted its report assuring safety of dam from all aspects hydrological,
structural and seismic safety. Besides, it observed no change in circumstances since its earlier
order of 2006. However, the courts judgment would facilitate TN to divert more water for its
agricultural purposes.

Supreme Court bans use of bulls in sports

May 10, 2014
The Supreme Court put a ban on the use of bulls and bullocks in sports. These animals have
been used in sports like Jallikattu (traditional bull fight of Tamil Nadu) and bullock-cart
race (Maharashtra) for centuries. The court banned use of bullocks and bulls in these events
on the ground that it amounted to cruelty against animals. Key observations of the Supreme
Court:

Bulls cannot be used as performing animals, either for the Jallikattu events or bullockcart races in the States of Tamil Nadu, Maharashtra or elsewhere in the country.

The Animal Welfare Board is permitted to take disciplinary action against defaulters.

Parliament recommended raising rights of animals to that of constitutional rights to

ensure observance of Prevention of Cruelty to Animals (PCA) Act 1960.

As per PCA Act Section 3 and Section 11(1)(m), it is an offence against a person
who incites any animal to fight with a view to provide entertainment.

DGCA grants Flying License to AirAsia India

May 10, 2014
Indias aviation regulator DGCA granted flying license or Air Operators Permit (AOP) to the
new airline AirAsia India. AirAsia India plans to have a 10-aircraft fleet within a year of start
of its operations and these planes would be drawn from A-320 family of aircraft ordered by
the AirAsia Group. The air carrier would initially concentrate on connecting non-metro towns
and imitate its low-cost, no-frills model that has seen substantial success in Southeast Asia.
The $30 million venture was the first airline to be launched after the FDI norms in aviation
were relaxed in September 2012. While AirAsia owns 49% stake in the Indian carrier, Tata
Sons has 30% and Telstra Tradeplace holds the rest.
Related News from Past on Air Asia:

AirAsia India received NOC from aviation ministry

FIPB nod to Tata-SIA airlines

S. Ramadorai is the Chairman of AirAsia India

Tata and Singapore Airlines ink MoU to set up a new full-service airline

AirAsia and Tata Group join hands for an economical airline

Finance Ministry clears AirAsia-Tata proposal

AirAsia seeks Indian govts nod to join hands with Tata Group to enter countrys
aviation

DGCA directs airlines to track flights in real time

May 10, 2014
The Directorate General of Civil Aviation (DGCA), in its directives, has made it mandatory
for airlines and private operators to track their aircrafts flight on real-time basis and ensure
that necessary devices are functional before take-off.
As per the instructions issue by the DGCA:

Indian scheduled and non-scheduled operators are required to track aircraft in real
time using onboard Aircraft Communications Addressing and Reporting System
(ACARS) or Automatic Dependent Surveillance Broadcast (ADS-B).

Airlines and private operators have to ensure that all essential devices are functional
before take-off.

The instructions apply to both passenger and cargo planes.

DGCA will review implementation of the directives during surveillance inspections.

Backdrop:
The directives have been issued close on the heels of vanishing of Malaysian Airlines flight
MH370, which has been missing for two months now. MH370 which took-off from Kuala
Lumpur for Beijing disappeared on March 8, 2014.

Indian economy showing signs of improvement

May 11, 2014

Indian economy appears to be improving as the sectors which were significantly affected by
the crisis and slowdown are now showing visible signs of improvement.
Some key observations:

Order from the apex court on relaxation in mining ban in Goa and Karnataka will be
helpful in resurrecting sentiments in mining sector.

Telecom sector, after incurring losses in the years 2011 and 2012, seems to gain in
future as telecom companies have managed to enhance their Average Revenue Per
User (ARPUs) significantly.

Infrastructure sector is also showing some positive signs with a major road project
approved in Maharashtra.

Biologists discover 14 new Dancing Frog species in

Western Ghats
May 11, 2014

Indian scientists have found 14 new species of Dancing Frogs in the

Western Ghats. The tiny agile amphibians earned their name for the unusual kicks they use to
attract mates.
The kicking or foot-flagging is a breeding behavior shown only by the males. They stretch,
extend and whip their legs out to the side to draw the attention of females who might have
difficulty hearing mating croaks over the sound of water flowing through perennial hill
streams. Compared with other frogs, these frogs are so sensitive to this habitat that any
change might be ravaging for them.

54 Indian companies among Forbes Global 2000

May 11, 2014
In the latest released Forbes Global 2000 list, Mukesh Ambani-led Reliance Industries
leads the set of 54 Indian companies in the annual list of the worlds 2000 largest and most
powerful public companies. The top three positions of the list is occupied by the Chinese
companies.
The Forbes Global 2000 is a comprehensive list of the worlds largest, most powerful public
companies, as measured by revenues, profits, assets and market value.
Some notable points from Forbes Global 2000:

Worlds top three biggest public companies and five of the top 10 are from China.

564 companies enlisted are from the US which marks its dominance as the country
with the most Global 2000 companies.

Japan follows the US with 225 companies in total.

India is home to 54 of the worlds biggest companies.

Reliance Industries, with a market value of $ 50.9 billion and $ 72.8 billion in sales,
ranked 135.

State Bank of India ranked 155 with a $ 23.6 billion market value.

Some other Indian companies making it to the list are: Oil and Natural Gas ranked 176,
ICICI Bank (304), Tata Motors (332), Indian Oil (416), HDFC Bank (422), Coal India (428),
Larsen & Toubro (500), Tata Consultancy Services (543), Bharti Airtel (625), Axis Bank
(630), Infosys (727), Bank of Baroda (801), Mahindra & Mahindra (803), ITC (830), Wipro
(849), Bharat Heavy Electricals (873), GAIL India (955), Tata Steel (983), Power Grid of
India (1011), Bharat Petroleum (1045), HCL Technologies (1153), Hindustan Petroleum
(1211), Adani Enterprises (1233), Kotak Mahindra Bank (1255), Sun Pharma Industries
(1294), Steel Authority of India (1329), Bajaj Auto (1499), Hero Motocorp (1912), Jindal
Steel & Power (1955), Grasim Industries (1981) and JSW Steel (1990).

RuPay, Indias indigenous card payment network

launched
May 11, 2014

Rupay, Indias own payment gateway was launched to

compete with networks such as Visa and Mastercard. The indigenous network will work on
ATMs and merchant outlets and help in bringing down cash transactions.
The RuPay is a blend of two terms Rupee and Payment. It has been developed by the
National Payments Corporation of India (NPCI) and is being used by certain banks such
as ICICI, State Bank of India, Punjab National Bank, among others, for clearing and
settlement. The RuPay, which works on three channels ATMs, Point of Sales (PoS) and
online sales, is the seventh such payment gateway in the world. A variant of the pre-paid
RuPay card would be launched by IRCTC soon, which will help in booking railway tickets.
Benefits of RuPay platform:

Reduce the transaction cost

Support creation of more domestic products

Reach the unbanked sections

Reducing number of cash transactions

Availability at a cost much less than those of international cards

RBI restricts companies from refinancing of rupee

loans via External Commercial Borrowings (ECB)
route

May 12, 2014

RBI has barred Indian companies from raising money from subsidiaries of Indian
banks overseas via the External Commercial Borrowings (ECBs) to refinance their
rupee loans. Thus, Indian companies will not be allowed to raise ECB from overseas
branches or subsidiaries of Indian banks for the purpose of refinance/repayment of the
rupee loans raised from the domestic banking system.
In April 2014, the RBI also restrained the banks from issuing guarantees to offshore
joint ventures and subsidiaries of Indian companies to avail foreign currency loans to
repay rupee credit.
Earlier, Indian companies in manufacturing, infrastructure and hotel industries were
permitted to raise a maximum of $10 billion from this route. The maximum
permissible ECB that could be availed of by an individual company was 75% of the
average annual export earnings realized during the past 3 financial years.
Typically, an Indian companys overseas subsidiary approaches an Indian bank for a
guarantee or letter of credit to use it for availing loans from another bank there. Banks
were permitted to issue non-fund based credit to overseas subsidiaries of Indian
companies up to 20% of unimpaired capital of the bank.
The step by RBI has come close on the heels of warning the banks against issuing
letter of credit and guarantees to Indian companies overseas subsidiaries. It said that
such non-fund based credit was being used for purposes other than the business the
company is involved.
The restrictions are applicable in cases like take-out financing, infrastructure
financing and spectrum allocation and other repayments. The direction were issued
under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42
of 1999).
The ECB loans are much cheaper than the domestic loans and therefore companies
use the arbitrage available to their benefit.

CANWFZ Treaty signed to recognize Central Asia as

Nuke-Free Zone

May 12, 2014

Five recognized nuclear weapon states- China, France, Russia, UK and USA inked the
Protocol to the Central Asian Nuclear-Weapon-Free-Zone (CANWFZ) Treaty in
New York, marking a major positive development in the global non-proliferation
efforts. The treaty was signed on the sidelines of the Nuclear Non-Proliferation
Treaty (NPT) Preparatory Committee Meeting at the United Nations.
CANWFZ Treaty

The CANWFZ Treaty was inked on September 8, 2006 in Semipalatinsk by the five
Central Asian nations Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and
Uzbekistan. It came into force on March 21, 2009. As chair of the CANWFZ Treaty,
Kazakhstan has steered the negotiations with the five nuclear states on behalf of its
Central Asian neighbors.
Central-Asian parties to the CANWFZ treaty aim to make the region a nuclearweapon free zone. For the zone to be recognized internationally, it also requires to get
the so-called negative guarantees from the five nuclear weapon countries, meaning
legally-binding assurances not to use nuclear weapons against the parties of the treaty
and not to use the threat of the use of nuclear weapons against them. The Protocol
signed on May 6, 2014 in New York provides all these guarantees. The Protocol
awaits ratification by the parliaments of the signing states enter into effect.
The CANWFZ Treaty complements the NPT and strengthens the international
nonproliferation regime by forbidding, among other things, the development and
testing of nuclear weapons within Central Asia. Under the CANWFZ Treaty, the five
Central Asian zone states may not allow the stationing of nuclear weapons within
their territories. The Central Asian states are also mandated to adopt the International
Atomic Energy Agency (IAEA) Additional Protocol, which provides the IAEA with
increased access and power to ensure that all nuclear activities are used only for
peaceful purposes.
Other Nuclear-Weapons Free Zones in the World
Apart from the newly created Central-Asian zone, there are four other nuclear
weapons free zones in the world, including in Africa, Latin America and the
Caribbean, South-East Asia and the South Pacific. The Central Asian zone is
different from the other four in a way that it is the only such zone fully located in the
northern hemisphere, the only zone adjoining two nuclear weapon states, Russia and
China, and the only zone where nuclear weapons once existed, until Kazakhstan
relinquished the weapons it inherited from the Soviet Union in the early 1990s.

Google loses copyright case over Android to Oracle

May 11, 2014

Oracle Corp won a suit against Google Inc. as an appeals court in

the US gave Oracle permission to copyright parts of the Java programming
language, which Google used to develop its Android smartphone operating
system. Googles Android operating system is the worlds largest-selling smartphone
platform. Oracle filed a lawsuit against Google in 2010, claiming that Google had
improperly used parts of Java into Android. Oracle seeks around $1 billion as its
copyright claims.

Rise quickly to counter China: Vietnam to India

May 11, 2014

Vietnam wants India to rise quickly in the South-East

region as it expressed concerns over Chinas rising assertiveness in the South China
Sea. Vietnam Ambassador Dang Dinh Quy voiced his concerns at a round table
meeting of Diplomatic Academy of Vietnam (DAV), and said that Chinese navy was
acting without provocation and that Chinese topmost leadership is behind in these
decisions.
The meeting was held for the delegates to share information with Australian scholars
around regional security matters such as US-China relations, maritime issues in the
Indo pacific region and to talk about more extensively Australias engagement with
Asia.

Exit polls and Post-Poll Survey: Are both same?

May 14, 2014
Although both the two terms Exit polls and Post-Poll Survey are used in the same
context i.e. prediction of elections, there is a technical difference between the two. Exit polls
are done outside the polling stations immediately after voters exit the polling booths/station.
A Post-Poll Survey, on the other hand, is conducted a day or two after the voting, preferably
at the homes of the voters.
In terms of accuracy, a post-poll survey helps gauge the results better as they are held in
the confines of somebodys home. Unlike exit polls where voters are caught immediately
after they come out from the booths, post-poll survey are based on relatively leisurely and
detailed interactions.
Most agencies have switched to post-poll surveys to gain from the process, given that polls
are mostly held in phases. Exit polls are conducted only when there are single-phase
elections. Agencies, nowadays, utilize a mix of post-poll survey and exit polls on the last day
of elections to generate immediate results.

China expresses concern over Indias role in South China

Sea issue
May 14, 2014
China seems a little disturbed with India voicing its concern over the tensions in the South
China Sea. Chinese Foreign Ministry said India need not worry too much about the issue.
The remarks from China came in response to India voicing its concern over the recent
developments in the South China Sea where Chinese and Vietnamese ships had a tense
standoff. These tensions have intensified with Chinas oil rigs attempts for oil exploration in
the waters of disputed islands claimed by both countries.

China was critical of reactions by the US and Japan over the region last week. China objected
to Indias ONGC participating in the drilling in the area specified by Vietnam which Beijing
called disputed. Both Vietnam and the Philippines together with Malaysia and Brunei have
serious disputes with China in the South China Sea and have been exhorting ASEAN to take
a firm stand against Beijing on the issue. China also objected to the Philippines arresting 11
Chinese fishermen in the disputed waters.
Recent development over South China Sea:

Vietnam wants India to rise quickly in the South-East region as it expressed

concerns over Chinas rising assertiveness in the South China Sea. The comments
came a few days after Chinese and Vietnamese ships had a tense stand-off. Link:
Rise quickly to counter China: Vietnam to India

A significant defense deal inked between the Philippines and the US which will allow
a bigger US military presence on Filipino territory. The pact would give U.S. forces
temporary access to selected military camps and allow them to pre-position fighter
jets and ships. It allows more US troops into the Philippines for joint military training
exercises. Link: Significant defence deal inked between Philippines and US

US-Japan joint statement highlights importance of trilateral dialogue with India

Indian Railways releases: India Junction A Window to

The Nation
May 13, 2014
Indian Railway released a book, titled India Junction A Window to the Nation. The book
has been brought out by Public Relations Directorate, Railway Board. The book has been
edited by Ms Seema Sharma.
About the Book:

India Junction A Window to the Nation is a book which tells the

story of the long an eventful journey of Indian Railways starting from 1853 to the present day
through in-depth, analytical essays that are rich in history; scrumptious travel pieces; and
some truly amazing and rare photo featurescelebrates the changes the Railways has
brought about in our lives; and examines how the Railways itself has transformed over time.

The Indian Railways provides us with a practical, convenient mode of transport, but its
contribution to Indian life goes much beyond that. The Railways is the lifeline of the nation
and, in many ways, its development has been deeply intertwined with the destiny of India.
India Junctionfeaturing in-depth, analytical essays that are rich in history; delectable travel
pieces; and some truly amazing and rare photo featurescelebrates the changes the Railways
has brought about in our lives; and examines how the Railways itself has transformed over
time.
Some quotes in INDIA JUNCTION:

Without the railways, the three great cities of Calcutta, Bombay and Madras would
have remained small colonial trading ports. Sir Mark Tully

Railways was the greatest force of modernization and unity that India had ever seen.
Sandipan Deb

The development of the railways has been deeply intertwined with the destiny of the
Indian subcontinent. Sharmila Kantha

In Mumbai locals, there is even a new subgroup of intimacy: the train friend.
Jerry Pinto

No Railways, no India.Ian J. Kerr

Scientists succeed in replicating semi-synthetic DNA

containing unnatural bases
May 13, 2014
Researchers at The Scripps Research Institute (TSRI) have succeeded in replicating
deoxyribonucleic acid (DNA) which contained artificially inserted synthetic pair of DNA
letters, or bases, not found in nature. It was done through an engineered E. coli bacterium
which replicated the unnatural semi-synthetic DNA. Replication is the process whereby DNA
makes a copy of itself before cell division.
Scientists have been working for long to identify bases other than organic that could serve as
new, functional DNA bases and could code for proteins and organisms that have never existed
before. Generally, organisms on earth have natural nucleoside base-pairs adenine-thymine
and cytosine-guanine which forms their DNA.
This experiment was lead by TSRI Associate Professor Floyd E. Romesberg. In 2008, his lab
had identified sets of nucleoside molecules that can hook up across a double-strand of DNA
practically as comfortably as organic base pairs (A, T, C, G) and showed that DNA containing
these unnatural base pairs can replicate in the presence of the correct enzymes. In the
following year, the researchers had been able to locate enzymes that transcribe this semisynthetic DNA into RNA. But all this was carried out in vitro (in test tube) and this time they
wanted to see them working in the significantly extra complicated atmosphere of a living cell.

Latest Experiment:
This time scientists engineered a stretch of circular DNA known as a plasmid and inserted it
into cells of the typical bacterium E. coli. The plasmid DNA contained all-natural T-A and CG base pairs along with the unnatural base pair Romesbergs lab had discovered, two
molecules identified as d5SICS and dNaM. The objective was to get the E. coli cells to
replicate this semi-synthetic DNA as typically as possible.
Why it is not easy to get a DNA with synthetic base pair/pairs replicated in a living cell?
There are a number of obstacles in making a living cell replicate a semi-synthetic DNA. Any
functional new pair of DNA bases would have to bind with an affinity comparable to that of
the natural nucleoside base-pairs adenine-thymine and cytosine-guanine. Such new bases also
would have to line up stably alongside the natural bases in a zipper-like stretch of DNA. They
would be required to unzip and re-zip smoothly when worked on by natural polymerase
enzymes during DNA replication and transcription into RNA. And somehow these nucleoside
interlopers would have to avoid being attacked and removed by natural DNA-repair
mechanisms.
In this experiment, as d5SICS and dNaM are not naturally in cells, the building blocks for
their replication had to be provided artificially, by adding them to the fluid resolution outside
the cell. To get the creating blocks, recognized as nucleoside triphosphates, into the cells,
scientists had to find unique triphosphate transporter molecules.
Challenges tackled:
In a significant breakthrough, scientists found a triphosphate transporter, created by a species
of microalgae, that was efficient at importing the unnatural triphosphates. Surprisingly, the
semi-synthetic plasmid replicated and did not greatly hamper the development of the E. coli
cells, and showed no sign of losing its unnatural base pairs to DNA repair mechanisms.
Importantly, this process can be performed in a controlled manner as it was found that when
the flow of the unnatural triphosphate transporter or building blocks is stopped, the DNA
reverts to normal A, T, G, C base pairs and the d5SICS and dNaM disappear from the
genome.
Possible Applications:
In future this research could be useful in encoding new proteins produced from new,
unnatural amino acidswhich would give us higher power than ever to design protein
therapeutics and diagnostics and laboratory reagents to have desired functions. Other
applications, such as nano-materials, are also possible.

Gmails Android version becomes first single app to pass 1

billion installations
May 15, 2014

Googles Android version of Gmail app has become the first individual smartphone app
to pass one billion installations on Android devices. The rankings were done by Google
Play Store which ranks apps by downloads in different ranges and the Gmail Android app
figured into the one to five billion bracket.
The figure doesnt take into account updates, so there is no double-counting when an update
is provided. And the Google Play services app is disqualified from the counting, as it is
required as part of the Google Play Store.
Many groups of apps, such as Outfit7s range of Talking Friends apps, have already passed
the one billion downloads, but downloaded of an individual app one billion times is
unprecedented. In 2012, the Angry Birds collection of games passed one billion downloads.

Shrinking ice moving the Earths crust upwards in the

Northern Antarctic Peninsula
May 14, 2014
As per scientists, earths mantle under Antarctica is moving rapidly, changing the shape of the
land at a rate that can be recorded by GPS. Researchers have explained for the first time
why the upward motion of Earths crust in the Northern Antarctic Peninsula is
currently occurring so rapidly.
At the surface, Antarctica is a motionless and frozen landscape. Yet hundreds of miles down
the Earth is moving at a rapid rate.
Earlier studies have found that the Earth is rebounding due to the overlying ice sheet
shrinking in response to climate change. This movement of the land was understood to be due
to an instantaneous, elastic response followed by a very slow uplift over thousands of years.
But Global Positioning System (GPS) data has shown that the land in this region is actually
rising at a phenomenal rate of 15mm a year much greater than what can be accounted
for by the present-day elastic response alone. And scientists have shown for the first time
how the mantle below the Earths crust in the Antarctic Peninsula is flowing much
faster than expected, probably due to subtle changes in temperature or chemical
composition. This shows that the mantle can flow more easily and therefore responds much
more rapidly to the reduction of load hundreds of kilometers above it, changing the shape of
the land. So as the glaciers slenderize and the load in that localized area decreases, the mantle
pushes up the crust.
Since 1995, several ice shelves in the Northern Antarctic Peninsula have melted and caused
ice-mass unloading, leading to the solid Earth to bounce back. The ice puts downward
pressure on the Earth and as this weight reduces the crust bounces back.

RBI permits foreign branches of banks to sell derivatives

not allowed in India
May 14, 2014

Foreign branches and overseas subsidiaries of Indian banks have been allowed by the RBI to
sell structured financial and derivative products in established financial centres even if these
products are not permitted in India. However, these products like Exchange Traded Funds
(ETFs) and Bond Derivatives are not allowed in the domestic market.
As per earlier norms, banks were not allowed to offer structured financial products through
their branches or subsidiaries outside India that are not specifically permitted in the domestic
market.
This was the outcome of the review of an earlier December 2008 circular that made it
mandatory for banks to get prior approval of the RBI by rendering details of the products,
including their regulatory treatment prescribed by the host-country regulators.

Effectiveness of Medication is Gene-dependent: Research;

thats why a particular drug is effective for certain people
but not for others.
May 14, 2014
A new research attempts to answer why a particular drug is effective for certain people
but not for others. The research team has found that genes play a significant role. Scientists
have generated a database associating 145 genetic regions with more than 400 molecules
involved in metabolism in human blood. This compendium of genetic links with metabolism
provides many new opportunities to understand the molecular pathways underlying
associations with common, complex diseases.
Metabolic molecules, known as metabolites, include a wide range of different molecules such
as vitamins, lipids, carbohydrates and nucleotides. They constitute parts of, or are the
products of, all biological pathways.
This new database of associations between genetic regions and metabolite levels provides a
powerful tool to identify genes that could be used in drug and diagnostic tests for a wide
range of metabolic disorders. It will help in drug discovery for metabolic disorders and also
facilitate scientists to understand the biology behind disease.

Lt Gen Dalbir Singh Suhag appointed as new Army chief

May 16, 2014
The government appointed Lt Gen Dalbir Singh Suhag as the next Chief of the Indian
Army. The Union Cabinet cleared the name of Vice Army Chief Lieutenant General Dalbir
Singh Suhag as the successor to Gen Bikram Singh, who will retire on July 3, 2014.
Suhag was the most senior officer in the Indian Army after Bikram Singh. He was
recommended by the Ministry of Defence for further consideration by the Appointments
Committee of Cabinet (ACC).

To know about the candidates contesting elections is a

fundamental right of citizens under Article 19(1)(a):
Supreme Court
May 16, 2014
The apex court held that it is mandatory for the candidates contesting elections to disclose
information about assets and liabilities of even their spouse and dependent children failing
which they can be disqualified. A person fighting elections is also under legal obligation to
reveal information on his or her criminal antecedents and educational qualifications.
Article 19(1)(a) of the Constitution makes it a fundamental right of the citizens to know
about the candidates contesting the elections and this is the main reason that makes it
obligatory to the candidates to furnish details regarding the criminal antecedents, educational
qualifications and assets held by the candidate, his spouse and dependent children.
As per the court, at the time of filing the nomination paper, if a candidate leaves blank any
column seeking information on criminal antecedents, educational qualifications and assets
and liabilities, then it would result in disqualification by the returning officer at the scrutiny
stage itself. If it is found that it is a case of improper acceptance, misinformation or
suppression of material information, rejection in such a case can only be postponed for a later
date.

Google rankings can influence Elections: Study

May 16, 2014
As per a new study conducted in India during the just concluded Lok Sabha Elections 2014,
Google rankings can dramatically swing ill-informed voters leading to influence the election
outcome.
The study done by Robert Epstein, a former editor of Psychology Today and noted Google
critic, found that manipulating the Google search results can significantly influence the
candidate preferences of the voters who are not well-informed and are undecided as they tend
to sway towards candidates appearing on the top of the search results/ranking.
In the experiment it was found that search rankings biased in favour of a candidate could
push the preferences of undecided voters towards that candidate by 15% or more. If there are
two candidates and both vying to push their rankings higher then thats fine. But if Google,
which has a monopoly on search in India, were to favour one candidate, it could easily put
that candidate in office by manipulating search rankings, and no one could counter that.
These manipulations can pose a serious threat to democracy. To prevent too much influence,
election-related search rankings need to be regulated and monitored, as well as subjected to
equal-time rules.

By 2025, India to replace Japan as third-largest oil

consumer: US
May 16, 2014
According to the US Energy Information Administration (EIA),India will overtake Japan to
become the worlds third largest oil consumer behind the US and China by 2025.
As per EIAs Annual Energy Outlook:

Indias oil consumption will increase from 3.68 million barrels per day (bpd), or 173.5
million tonnes, in 2012 to 5.19 million bpd in 2025, catching up with Japans 4.38
million bpd consumption. Japan consumed 4.75 million bpd of oil in 2012.

At present, India is the fourth largest oil consumer in the world behind the US, China
and Japan.

Though the US will remain the worlds biggest oil consumer but its demand growth
will be almost negligible.

With 3% compounded annual growth rate, Indias oil consumption growth rate from
2012 to 2040 will be highest in the world. Its oil consumption will reach 6.11 million
bpd in 2030 and 8.33 million bpd in 2040.

India meets around 80% of Indias oil requirements through imports.

In 2013, India overtook Japan as the worlds third-biggest importer of crude oil.

According to International Energy Agency, India will become the worlds largest oil
importer by 2020.

General Election 2014: Resounding victory for BJP,

Congress faces drubbing in 6 states
May 17, 2014
Worlds biggest democratic exercise- Indias 16th Lok Sabha (Lower House) elections which
ran from April, 7 to May 12, 2014 are over and its verdict is out. Of the total 543 seats for
which elections were contested, BJP led NDA achieved a thumping victory on 336 seats,
whereas, Congress led UPA has faced thorough defeat in 6 key states winning just 59 seats,
and the Congress, 44 seats. The Aam Aadmi Party (AAP) which contested on 424 seats has
faced debacle as it could win just 4 seats. AAP leader and former Chief Minister of Delhi,
Arvind Kejrival, who contested against the Narendra Modi from Varanasi, defeated by a huge
margin of more than 3 lakh votes.
With this NDA victory, BJPs Prime Ministerial candidate Narendra Modi is all set to be the
head of the newly elected Indian Government.

Some high spots of Lok Sabha polls 2014:

It was 16th Lok Sabha election.

Election Commission of India conducted election in 9 phases, longest election in the

countrys history.

8,251 candidates contested for 543 constituencies in India.

814.5 million People were eligible voters, with an increase of 100 million voters since
the last general election in 2009, making this the largest-ever election in the world.

Average election turnout was around 66.38%, the highest ever in the history of Indian
general elections.

With more than six times the seats of its closest contenders, Modis is the most
decisive mandate for a leader since the 1984 assassination of Prime Minister Indira
Gandhi propelled her son to office. Since 1989, India has been governed by coalitions.

With 282 seats, the BJP has won the highest number of seats by a single party in the
modern, post-regional politics era, compared with 244 for the Congress in 1991 and
206 for it in 2009.

It is the worst ever performance by Congress compared to its show in other previous
General Elections.

Since 1977, the BJP is the first non-Congress party to defeat Congress by such a huge
margin. However, the biggest tally of seats achieved by a non-Congress party is 295
won by the Janata Party in the 1977 post-Emergency election that ousted Mrs.
Gandhi from office.

BJP registered its biggest win in Uttar Pradesh winning 71 seats despite a big
coalition partner, the best performance by a single party in the state since 1984 when
the Congress won 83 of 85 seats.

Results Lok Sabha Polls 2014:

ALLIANCE
NDA (BJP + Allies)
UPA (Congress +
Allies)
AAP
SP
BSP
AITC
JD(U)
LEFT

TALLY
335
59
4
5
0
34
2
11

ADMK
OTHERS
TOTAL

37
56
543/543

VOTE SHARE:
Alliance
NDA
UPA
LEFT
AITC
OTHERS

Vote share (%)

35
23
4
4
34

Indias IIP remains negative, declines 0.5% in March 2014

May 16, 2014
As per the Quick Estimates of Index of Industrial Production (IIP) with base year 200405 for the month of March 2014 released by the Central Statistics Office (CSO) of the
Ministry of Statistics and Programme Implementation (MoSPI), the industrial
production remained negative for the second consecutive month, shrinking 0.5% in
March 2014 due to poor performance in manufacturing, especially capital goods.
Output as assessed by the IIP remained almost flat in 2013-14 and slumped 0.1% compared
with an expansion of 1.1% in 2012-13.
The General Index for the month of March 2014 stands at 193.2, which is 0.5% less as
compared to the level in March 2013. The cumulative growth for the period April-March
2013-14 over the corresponding period of the previous year is at (-) 0.1%.
Compilation Sources for IIP:
IIP is compiled using data gathered from 16 source agencies viz. Department of Industrial
Policy & Promotion (DIPP); Indian Bureau of Mines; Central Electricity Authority; Joint
Plant Committee; Ministry of Petroleum & Natural Gas; Office of Textile Commissioner;
Department of Chemicals & Petrochemicals; Directorate of Sugar; Department of Fertilizers;
Directorate of Vanaspati, Vegetable Oils & Fats; Tea Board; Office of Jute Commissioner;
Office of Coal Controller; Railway Board; Office of Salt Commissioner and Coffee Board.

Bharti Airtel raises about $2 billion in Dual Currency

Bond sale
May 16, 2014
Indias largest telecom company Bharti Airtel raised around $2 billion in a dual currency
international bond sale. It is the largest debt issuance by a domestic company till date. Bharti
sold dual currency dollar and euro bonds to raise the money which will be used for

repayment and refinancing of existing foreign currency debt. It is a first dual currency
issuance by an Indian issuer and also largest fund raising exercise at a single time by an
Indian issuer.
What are Dual Currency Bonds?
Dual Currency Bonds pay interest coupons in one currency and principal redemption for a
fixed sum in a second currency, often the dollar.
A company may prefer issuing a dual currency bond to hedge any foreign exchange flows
from its operations, or take a speculative view on currencies in order to get a lower cost of
capital. Investors generally get an above-market coupon, but run the risk that, in this example,
the dollar could plunge below the exchange rate used when the amount was fixed. Such
bonds are enticing to borrowers who operate in the redemption currency because they have
no long-term exchange rate risk.

Govt should reduce its shareholding in PSBs to below

50%: RBI Committee
May 16, 2014
An RBI committee headed by former chairman of Axis Bank PJ Nayak has said in its report
that the government should bring down its stake in Public Sector Banks (PSBs) to below
50%.
Key Suggestions proposed by the RBI Panel:1) On existing Governance pattern of PSBs:
Criticizing the way in which the 26 PSBs are being currently governed, the panel blamed
several externally imposed constraints like dual regulation by the RBI and finance ministry
and external vigilance by agencies like the CVC and CAG for the distress of banks.
The government should reduce its stake in these banks to less than 50%, along with certain
other executive measures for the removal of these constraints.
The Centre should distance itself from the governance of banks and the Bank Nationalization
Acts of 1970 and 1980, along with the SBI Act and SBI Subsidiary Banks Act, be repealed as
it finds the selection process for directors is increasingly compromised.
2) On Governments powers in relation to the governance of banks
All banks should be incorporated under the Companies Act and a Bank Investment
Company (BIC) be set up to which the government transfers its holdings in banks. BIC
should be given power of governance of the banks. Until BIC becomes functional, a Bank
Boards Bureau comprising former senior bankers should advise all board appointments,
including those of chairmen and executive directors.
3) On existing Human Resource Policy in Banks

Change in human resource policy to encourage younger people joining top management.
Private sector banks should be provided a more level-playing field with the public sector
counterparts.
4) On governance issues in private sector banks
Ownership constraints that could misalign the interests of shareholders with those of top
management must be removed. Allowing larger block shareholders generally enhances
governance.
5) On distressed banks
Distressed banks, private equity funds, including sovereign wealth funds, should be allowed
to take control of stakes of up to 40%.
6) On Evergreening of bad loans
Boards of banks need to be vigilant about the quality of the loans. The policy of private sector
banks can be considered which incentivises senior management on the basis of bank
profitability, and disburses the compensation through stock options. There is potential
incentive to evergreen assets in order that provisions do not make a dent in profitability.
In the case of evergreening, fines can be slapped through cancellations of unvested stock
options and claw-back of monetary bonuses on officers concerned and on whole-time
directors, and that the chairman of the audit committee be asked to step down from the board.

Andhra Pradesh assembly polls results: TDP wins largest

number of seats
May 17, 2014
Telugu Desam Party (TDP) led by N. Chandra Babu Naidu emerged as the largest party with
117 seats out of the total 294 assembly seats of the Andhra Pradesh in the recently concluded
Assembly Elections in the state.
Results:
Political Party
TDP
Yuvajana Sramika
Rythu Congress Party
Telangana Rashtra
Samithi (TRS)
Indian National
Congress (INC)
BJP
Others

Seats Won
117
70
63
21
9
14

Arunachal Pradesh assembly polls: INC to form

government
May 17, 2014
The results of the 2014 assembly elections of Arunachal Pradesh are out. The Indian National
Congress (INC) led by the incumbent Chief Minister Nabam Tuki won 42 seats of the total 60
assembly seats in the state.
BJP with 11 seats is the first runner up whereas Peoples Party of Arunachal finished third
with 5 seats.
Results:
Political Party
Bharatiya Janata Party
Indian National Congress
Peoples Party of
Arunachal
Independent

Seats Won
11
42
5
2

Odisha assembly polls 2014: BJD emerged largest party in

the state
May 17, 2014
The results of the 2014 assembly elections of Odisha have been announced. Of the total 147
assembly seats, Biju Janata Dal (BJD) led by incumbent Chief Minister Naveen Patnaik has
won 117 seats, making it the single largest party in the state.
Odisha assembly polls 2014 results:
Political Party
BJD
BJP
Indian National
Congress
Others

Seats Won
117
10
16
4

Sikkim Assembly elections 2014: SDF to retain power for

fifth term in a row
May 17, 2014
Sikkim Democratic Front (SDF) led by incumbent Chief Minister Pawan Kumar Chamling
has emerged as the single largest party by winning 22 seats out of total 32 in the 2014

assembly elections of Sikkim. The newly established party Sikkim Krantikari Morcha (SKM)
led by Prem Singh Tamang won 10 assembly seats and will sit in opposition.
The SDF which came into being in 1993 has been in power in Sikkim since 1994. This will
be partys fifth consecutive term in power.

SpaceX Dragon capsule leaves space station, heads back

to Earth
May 20, 2014
US private firm SpaceXs unmanned Dragon capsule undocked from the International
Space Station (ISS), to return to Earth. The capsule is carrying more than 1,580 kilograms of
science samples and NASAs old equipment.
NASA depends on SpaceX and other private companies to replace the Space Shuttles, which
were finally retired in July 2011, and had brought supplies and astronauts to and from the
space station.
SpaceX has signed a $1.6 billion deal with NASA for a total of 12 of supply missions.
SpaceX, Boeing and Sierra Nevada have also been engaged by NASA to develop private
space ships capable of transporting people to the space station and other destinations in orbit,
with a launch expected in 2017. That would end the US reliance on Russias Soyuz capsules
to carry US astronauts to and from the space station, at a cost of $70 million per person.

Photon-Photon Collider Experiment: Researchers

develop technique to turn light into matter
May 20, 2014
Scientists in the UK have discovered how to turn light into matter. Until now, it was not
practically shown what was theorized by scientists G Breit and John A Wheeler in 1934the simplest technique of turning light into matter by colliding only two particles of light
(photons), to create an electron and a positron. It has never been observed in a lab and past
experiments as it necessitates the addition of massive high-energy particles.
Scientists from Imperial College London have unraveled the theory. They will perform a
Photon-Photon Collider experiment to prove this in practise. The experiment would
recreate a process that was significant in the first 100 seconds of the universe, also seen in
gamma ray bursts the biggest explosions in the universe and one of physics greatest
unsolved puzzles.
Two main steps of Photon- Photon Collider experiment:
1. Using an extremely powerful high-intensity laser to speed up electrons to just below
the speed of light and then shoot these electrons at a slab of gold to create a beam of
photons a billion times more energetic than visible light.

2. Firing a high-energy laser at the inner surface of a tiny gold can called a hohlraum to
create a thermal radiation field, generating light similar to the light emitted by stars.
The photon beam from the first stage would be directed through the centre of the can, causing
the photons from the two sources to collide and form electrons and positrons. It would then
be possible to observe the formation of the electrons and positrons when they exited the can.
This discovery would help in understanding how we can create matter directly from light
using the technology.

Indias Steel Man Former Tisco chief Russi Mody

passed away
May 19, 2014
Russi Mody (96), regarded as Indias Steel Man for his role in elevating Tata Steel (then
known as Tisco) to its present status of Indias largest steel manufacturing company, passed
away.
He was born on January 17, 1918, joined Tisco in 1939, and rose through the ranks to become
its chairman and managing director in 1984. The man who was with Tata Steel for nearly four
decades was credited with laying the foundation for what Tata Steel is today.
Mody was removed from the top position at Tata Steel in 1993 as the result of differences in
opinions with Ratan Tata, who had just assumed charge as chairman of the Tata Group. He
was then appointed as the joint chairman of Air India and Indian Airlines by then Prime
Minister PV Narasimha Rao.
Mody received Padma Bhushan (nations third highest civilian award) in 1989 for his
exemplary contribution to the Indian industry.

Representation of Muslims in 16th Lok Sabha plunges alltime low at 22

May 19, 2014
The 16th Lok Sabha will have lowest Muslim representation (Muslim MPs) of all-time at 22.
The previous low in the history of Indian Parliament was witnessed in 1957 when there were
only 23 Muslim MPs. While Muslims constitute 10.5% of Indias population, its percentage
representation in the new Lok Sabha will be 4.2%. In 1957, it was slightly high at 4.6%. The
highest representation was in 1980 when 49 Muslims were elected as MPs.
West Bengal sends the largest number of Muslim MPs with 4 from Trinamool Congress and
2 each from Congress and CPI. The second highest number is from Bihar with RJD, NCP,
Lok Jan Shakti Party and Congress sending 1 MP each. In Assam 2 Muslim MPs, both from
All India United Democratic Front, have won. Kashmir has elected 3 Muslim MPs while
Kerala elected 3. Tamil Nadu and Andhra Pradesh have elected 1 Muslim MP each while no
Muslim MP has been elected from Uttar Pradesh.

Swiss electors disapprove worlds highest minimum wage,

thwart new fighter jets buying plans
May 21, 2014
The voters in Switzerland turned down the proposals to introduce the worlds highest
minimum wage and also blocked spending of $3.5 billion for buying new Gripen fighter jets
from Saab. Saab Group (originally Svenska Aeroplan AB, later SAAB) is a Swedish
aerospace and defence company was founded in 1937. About 76% voters rejected the
proposal made by Swiss union SGB and backed by the Socialist and Green parties for a
minimum wage of 22 Swiss francs ($25) per hour.
Around 53% blocked a plan to replace Switzerlands senescent fleet of fighter jets with 22
Gripen jets from Saab. Had the proposal been accepted, it would have led to job cuts,
particularly in remote and structurally weaker regions.
The initiative was proposed to address a widening income gap in the generally egalitarian
country. Though voters approved giving shareholders a binding say on executive pay, but
rejected a proposal to cap the salaries of top executives at 12 times that of a companys
lowest wage.

Chibok Kidnapping of Schoolgirls: Nigerias President

calls off town visit
May 20, 2014
Nigerias President Goodluck Jonathan has cancelled a visit to Chibok, the town from
where more than 200 schoolgirls have been abducted by militant Islamist group Boko Haram.
Jonathan has been criticised for not visiting the town more than a month after the girls were
abducted.
The president will now go direct to Paris to participate in a meeting convened by French
President Francois Hollande to discuss the issue of Boko Haram militants.
Around 276 female students were abducted from the Government Secondary School in the
town of Chibok in Borno State, Nigeria on the night of April 14-15, 2014. Boko Haram, an
Islamic Jihadist, and Takfiri terrorist organization based in northeast Nigeria have claimed
these kidnappings. Boko Haram, had earlier said the girls should not have been at school and
should be married instead.
Boko Haram:
It is a militant Islamist group Boko Haram active mainly in Nigeria and is responsible for
wreaking mayhem in the country through a series of bombings, assassinations and now
kidnappings. It intends to bring down the government and create an Islamic state.

Boko Haram promotes a version of Islam which makes it haram, or forbidden, for Muslims
to participate in any political or social activity associated with Western society. This includes
voting in elections, wearing shirts and rousers or receiving a secular education.
The group was set up in 2002 as Jamaatu Ahlis Sunna Liddaawati wal-Jihad, which in
Arabic means People Committed to the Propagation of the Prophets Teachings and Jihad.
It was dubbed Boko Haram, a phrase in the local Hausa language meaning, Western
education is forbidden.

Adani Ports buys Dhamra Port of Odisha

May 20, 2014
Adani Ports and Special Economic Zone acquired the strategic Dhamra port in Odisha on
the east coast of India for an enterprise value of Rs 5, 500 crore. The company inked a
definitive pact to acquire the port from a 50:50 joint venture of Tata Steel and Larsen &
Toubro. After the 2005 acquisition of Pipapav Port in Gujarat by APM Terminals BV from
SKIL Infrastructure, the Dhamra deal is the largest port sector deal in India.
Dhamra Port:

Dhamra port is one of the deepest ports on the eastern coast of

India. It was granted the rights by the Odisha government in 2004 to develop and operate for
30 years. The port is considered strategic as it is located to serve the mineral belt of the
eastern states and in between competitors and government-controlled Haldia and Paradip
ports.
Adani Ports and SEZ:
Gautam Adani-led Adani Ports and SEZ is listed on Bombay Stock Exchange (BSE) and is
75% owned by Adani Enterprises, the flagship of Adani group. The company owns and
operates 5 ports, of which three Dahej, Hazira and Mundraare in Gujarat. Dhamra
port will help the company enhance its capacity to over 200 million tonne by 2020, making it
a leader among private sector port operators in the country. Adanis family firm also operates
a coal loading terminal at Abbot Point in Queensland in Australia.

RBI to launch Plastic notes in 2015

May 20, 2014
As per Reserve Bank of India (RBI) Governor Raghuram Rajan, Plastic currency notes
will be launched in 2015 after field trial which is likely to be conducted in the latter half of

2014. The pilot testing would be conducted in five cities- Kochi, Mysore, Jaipur,
Bhubaneswar and Shimla.
One billion plastic notes of Rs.10 denomination will be released in the field trial in these
cities chosen for their geographical and climatic diversity. Plastic currency notes have an
average life span of about 5 years and are difficult to counterfeit. Also, these notes are
cleaner than paper notes.

Modi is not the first instance when CM becomes PM

May 21, 2014
Prime Minister-to-be Narendra Modi is not the first Chief Minister to ascend to the seat of the
head of Government of India. The distinction goes to former Karnataka CM H.D. Deve
Gowda, who, moved to the post of Prime Minister in 1996.
Mr. Gowda resigned as Chief Minister and gave up his membership of the Karnataka
Legislative Assembly after he was named PM. The Constitution of India permits a person,
who enjoys the support of the majority of Lok Sabha MPs, to be sworn in as PM without
being a member of either the Lok Sabha or the Rajya Sabha.
However, the person has to get elected to either House of Parliament within a period of 6
months. Mr. Gowda chose to become a member of the Rajya Sabha.
Narendra Modis Case:
Because Mr. Modi is already elected as a member of the Lok Sabha from Vadodara and
Varanasi, he will have to step down as CM and resign as the member of the Gujarat Assembly
as well as one of the two Lok Sabha seats he has been elected. As per the law, an individual
cannot be a member of the Lok Sabha/ Rajya Sabha as well as the Legislative Assembly. The
person has to give up his membership of one of the two within 14 days of the notification of
the election result by the Election Commission. The same rule applies to a person who is
elected from more than one Lok Sabha or Legislative Assembly seat.
The unique case of Narasimha Rao:
The case of the late Narasimha Rao is one of its kind. He had almost retired from politics and
did not fight the 1991 Lok Sabha (LS) polls. But the situation took a sharp turn with the
assassination of Congress prime ministerial candidate Rajiv Gandhi at Sriperumbudur in
Tamil Nadu, where he was campaigning for the same LS elections.
The Congress won the elections and the party proposed Sonia Gandhi to be the PM but she
declined the proposal. Then Mr. Rao, who had the support of Ms. Gandhi, was chosen for the
job of Prime Minister. Subsequently, he contested a by-election from the Nandyal Lok Sabha
constituency in Andhra Pradesh and won with a record margin of over 5 lakh votes as the
Telugu Desam Party endorsed his political campaign in the name of Telugu pride.

Pension Payment Order (PPO) to be given soon after

retirement to Central Govt employees
May 21, 2014
The Centre has decided to give Pension Payment Order (PPO) to all central government
employees at the time of retirement along with their other dues. This step has been taken to
check the delay in disbursal of pension. Currently, the scheme for payment of pensions to
central government civil pensioners is implemented through authorised banks. The scheme
issued by the Central Pension Accounting Office provides for an undertaking to be
submitted by the retiring government servant or pensioner to the pension disbursing bank
before commencement of pension.
It has been found that the first payment of pension after retirement gets delayed mainly
due to two reasons:1. Delay in receipt of intimation by the pensioner that pension papers have reached the
bank.
2. Delay on part of the pensioner in approaching the bank for submission of undertaking.
Now, the pensioner is not required to visit the bank to activate the first payment of pension.
The Ministry of Personnel has directed Office of Controller General of Accounts to instruct
all Pay and Accounts Offices and all pension disbursing banks to follow its directives. There
are about 30 lakh Central government pensioners.

RBI to start managing Telanganas public debt from June

2, 2014
May 21, 2014
The Reserve Bank of India (RBI) and the newly created state Telangana have inked a pact
according to which the RBI shall carry on the general banking business of the Government of
Telangana, manage its rupee public debt and act as the sole agent for investment of
Governments funds. The agreement is consistent to the Andhra Pradesh Reorganisation Act,
2014.
The Andhra Pradesh Reorganisation Bill 2014, which received Parliaments approval
February 20, 2014, got the Presidential assent in March 2014 and paved the way for the
formation of 29th state of India by bifurcating Andhra Pradesh.
The remaining Andhra Pradesh will have 13 districts while Telangana will have 10 districts,
including Hyderabad city.

Researchers unravel why olive oil reduces blood pressure

May 21, 2014

Scientists have discovered why olive oil reduces blood pressure. As per a new research,
consuming unsaturated fats, like those in olive oil, along with leafy greens and other
vegetables forms a certain kind of fatty acid that lowers blood pressure. These nitro fatty
acids are created when consuming spinach, celery and carrots that contain nitrates and
nitrites, along with avocado, nuts and olive oils that contain healthy fats.
Nitro fatty acids appear to inhibit an enzyme known as soluble epoxide hydrolase which
regulates blood pressure. Scientists can now explain why previous research found that a
Mediterranean diet supplemented with extra-virgin olive oil or nuts can reduce the occurrence
of cardiovascular problems like stroke, heart failure and heart attacks.
Thus far, it was only known that the Mediterranean diet which consists of lots of vegetables,
fish, grains, red wine and fatty nuts and oils is salubrious, there has been little scientific
consensus about how or why.

All banks need to install talking ATMs from July 1,

2014: RBI
May 22, 2014
As per the directions of the Reserve Bank of India (RBI), all banks will be required to make
all new ATMs installed from July 1, 2014 as talking ATMs with Braille keypads.
As per RBIs guidelines to all banks:

All new ATMs installed from July 1, 2014 should be talking ATMs with Braille
keypads.

Banks should lay down a roadmap for converting all existing ATMs as talking ATMs
with Braille keypads. The same may be reviewed from periodically by the Customer
Service Committee of the Board.

Banks should provide magnifying glasses in all bank branches for the use of persons
with low vision, whenever they need for performing banking transactions with ease. A
notice about the availability of magnifying glasses and other facilities available for
persons with disabilities should be displayed at a prominent place.

Flipkart acquires Myntra

May 22, 2014
Indias largest online retailer, Flipkart.com, acquired fashion e-retailer Myntra.com. While the
exact size of the deal could not be ascertained, some reports estimate it to be of Rs 1,8002,000 crore
The deal is expected to consolidate Rs 62,000-crore e-commerce market of India. The
acquisition by Flipkart reflects the companys intention to tap into the online sales of apparel

and fashion accessories where it has had limited. Apparel and fashion domain is the largest
shopping categories in the online retail space.
As per experts, by 2019, the electronics and fashion domain will account for 30% of the sales
in the online e-commerce space.

RBI permits banks to provide loans to exporters for up to

10 years
May 21, 2014
Banks have been allowed by the RBI to give loans with tenures of up to 10 years to exporters
to help them ensure capital flows to fulfil long-term contracts. As per current rules, banks are
allowed to provide loans for up to 1 year only.
RBI has permitted banks to allow exporters having a minimum of 3 years satisfactory track
record to get long-term export advance up to a maximum tenor of 10 years to be utilized for
execution of long-term supply contracts for export of goods.
This facility is available with certain caveats, including:1. An interest rate limit of 200 basis points above the London interbank offered rate
(Libor), a global benchmark.
2. Exporters getting loans of $ 100 million or above are required to report the transaction
immediately to the RBI.
3. There should be irrevocable supply orders in place.
4. The contract with the overseas party or buyer should be examined and must clearly
specify the nature, amount and delivery timelines of products over the years and the
penalty in case of non-performance or contract cancellation.
5. Export advances which are classified as non-performing assets as per RBI norms cant
be used to liquidate rupee loans.
6. Exporters should have the capacity, systems and processes in place to ensure that
orders over the duration of the tenure can be executed.

Jitan Ram Manjhi sworn-in as Bihar Chief Minister

May 21, 2014
Jitan Ram Manjhi is the new Chief Minister of Bihar. He was administered oath of office and
secrecy by Governor D.Y. Patil at a ceremony at the Raj Bhavan in Patna. The 15 members of
the previous Nitish Kumar government have retained their place in the new Jitan Ram Manjhi
Ministry, while two independent MLA have also been added.

It may be recalled that chief minister Nitish Kumar had resigned from the post taking the
responsibility of his partys (JDU) dismal performance in the recently concluded Lok Sabha
polls.
Jitan Ram Manjhi:
Manjhi is from Mahkar village in Gaya district. He is a legislator from the Makhdoompur
assembly constituency in Jehanabad district. He is the third Dalit CM of Bihar after Bhola
Paswan Shastri and Ram Sundar Das. Prior to his appointment as CM, Manjhi was SC/ST
welfare minister in the Nitish Kumar cabinet.

Naveen Patnaik takes oath as fourth time CM in Odisha

May 23, 2014
Naveen Patnaik was sworn-in as Chief Minister of Odisha for the fourth term in a row. Mr.
Patnaik was administered the oath of office and secrecy by Governor S.C. Jamir.
It was in 2005 when Mr. Patnaik, head of Biju Janata Dal (BJD), became the CM for the first
time when the BJD-BJP alliance came to power defeating the Congress.
Mr. Patnaik continued his second term from 2004 to 2009 when the BJD separated itself from
the BJP and contested the elections by having seat sharing arrangements with Communist
Party of India, Communist Party of India (Marxist) and Nationalist Congress Party.

Pawan Chamling takes oath as Sikkim CM for fifth

consecutive term
May 23, 2014
Sikkims Governor Shriniwas Patil administered the oath of office and secrecy to Pawan
Chamling as Sikkim Chief Minister for the record fifth term in a row.
In the recently concluded assembly polls, the Chamling-led Sikkim Democratic Front
(SDF) had won a two-thirds majority securing 22 seats out of total 32.
Chamling has been in power since December 12, 1994 and has already completed two
decades as the CM of state which merged with India in 1975.

Members of Planning Commission resign

May 23, 2014
Following the standard practice, all members of the Planning Commission (PC) including
Deputy Chairman Montek Singh Ahluwalia and all the other members of the Commission
submitted their resignations to the Prime Ministers Office to enable its reconstitution. Dr.
Ahluwalia and the rest of the members will continue as acting members till a new
Commission is set up.

The Prime Minister is the ex-officio chairman of the PC and all members of the commission
submit their resignations to the Prime Minister after the general elections. The term of
members of the PC is coterminous with the government. The reconstitution of the new PC
will be decided by the newly elected government.
This outgoing Planning Commission had formulated the 12th Five Year Plan (2012-17), which
envisages an annual average economic growth of 8% during the plan period.

Anandiben Patel: First woman CM of Gujarat

May 22, 2014
Anandiben Patel (73) will succeed PM-designate Narendra Modi as the Chief Minister of
Gujarat. Prior to her election as CM, she was states revenue minister. Modi was the longestserving chief minister of the state. Anandiben Patel is the first woman chief minister of
Gujarat.
Anadiben Patel:
Born: November 21, 1941
Political Party: Bhartiya Janata Party (BJP)
Career Profile: Former school teacher, a gold-medalist in MSc and also a winner of the
Presidents Medal. She held important portfolios of urban development, revenue and disaster
management and was earlier in charge of education ministry, steering successfully some of
the key Modi projects, including the one for boosting female literacy.

Donald Levine, man behind G.I. Joe, passed away

May 23, 2014

Donald Levine (86), the man credited as the father of G.I.

Joe (toy) for developing the worlds first action figure, passed away. As the head of research
and development at toy manufacturer Hasbro, Levine led the team which developed the
figure complete with 21 moving parts that made it popular among kids. Mr Levine was not
the inventor of the iconic toy, that was merchandiser Stan Weston, but he gauged its
potential and developed the model as a mass seller. G.I. Joe first hit the shelves of American
toy shops in Christmas 1964, and was an instant success.
G.I.Joe
G.I. Joe is a range of action figures produced by the toy manufacturing company Hasbro. The
term G.I. stands forGovernment Issued and after the First World War became a common

term for U.S. soldiers. G.I. Joe was inducted into the National Toy Hall of Fame at The
Strong in Rochester, New York, in 2003.

Genral Polls 2014: Dhubri recorded highest Voter

Turnout; Srinagar the lowest
May 23, 2014
The 16th Lok Sabha polls registered a record average voter turnout of 66.4%. Dhubri of
Assam witnessed the highest turnout at 88.22% followed by Nagaland at 87.82%; Srinagar
of J&K registered the lowest turnout at 25.90%, followed by Anantnag of the same state.
Table 1: Top 10 Parliamentary Constituencies in terms of Voter Turnout
Parliamentar
Sl.
y
No
Constituency
1 Dhubri
2 Nagaland
3 Tamluk
4 Bishnupur

State/UT

Voter
Turnout

Assam
88.22%
Nagaland
87.82%
West Bengal 87.59%
West Bengal 86.72%
Lakshadwee
5 Lakshadweep
86.61%
p
6 Kanthi
West Bengal 86.61%
Bardhaman
7
West Bengal 86.21%
Purba
8 Tripura West Tripura
85.92%
9 Basirhat
West Bengal 85.45%
10 Birbhum
West Bengal 85.33%
Source: Election Commission of India
Table 2: Bottom 10 Parliamentary Constituencies in terms of Voter Turnout
Parliament
Sl.
ary
N
State/UT
Constituenc
o
y
Jammu &
1 Srinagar
Kashmir
Jammu &
2 Anantnag
Kashmir
Jammu &
3 Baramulla
Kashmir
Maharash
4 Kalyan
tra
5 Patna Sahib Bihar
6 Bhind
Madhya

Voter
Turno
ut
25.90%
28.84%
39.13%
42.88%
45.33%
45.62%

Parliament
Sl.
Voter
ary
N
State/UT Turno
Constituenc
o
ut
y
Pradesh
7 Nalanda
Bihar
47.22%
Mumbai
Maharash
8 North
48.61%
tra
Central
9 Arrah
Bihar
48.75%
Uttar
10 Bansgaon
49.88%
Pradesh
Source: Election Commission of
India

RBI eases gold import to promote its export under its

20:80 formula
May 23, 2014
Star trading houses big importers and exporters has been permitted by the RBI to import
gold under its existing 20:80 scheme. Thus far, the facility was available to select banks only
and other big entities like star trading houses were forbidden from importing the yellow
metal.
As per the extant rules, importers can buy gold, on a condition that 20% of it is exported as
finished products. In July 2013, the RBI had imposed severe restrictions on gold imports in
order to curb surging Current Account Deficit (CAD) and the declining rupee. The central
bank had tied imports with exports and prescribed a 20:80 formula.
As per the 20:80 scheme, an importer has to ensure that at least 20% of every lot of imported
gold is exclusively made available for exports as finished good and the balance for domestic
use.
The RBI has also permitted banks to provide gold metal loans to domestic jewellery
manufacturers, out of the eligible domestic import quota of 80%.

Bharatiya Mahila Bank included in second schedule to

RBI Act 1934
May 23, 2014
Bharatiya Mahila Bank (BMB), Indias first all-women bank, has been included in the second
schedule to the RBI Act 1934.
With the inclusion in the second schedule or commercial bank category, the bank has become
eligible for loans from RBI on bank rate and also gets membership of clearing houses.

Furthermore, it assures that any activity of the bank would not adversely affect the interests
of depositors.
BMB has been in existence since November 2013 which began with a seed capital of Rs
1,000 crore. To focus on the banking needs of women and promote economic empowerment
is one of the main objectives of BMB.
At present, the loan portfolio of the BMB is about Rs 80-90 crore. It offers loan to girl child
at a concessional rate which is 1% lower than the normal rates.

Sanskrit Scholar and Indologist Sukumari Bhattacharji

passed away
May 25, 2014
Indologist and Sanskrit scholar Sukumari Bhattacharji (92) who was known for her grasp
over English and Sanskrit language, passed away.
She started her career as a lecturer in English at Lady Brabourne College in Kolkata. She
joined Jadavpur Universitys Comparative Literature department and later switched to the
Sanskrit department.
Her grasp over Sanskrit helped her to do in-depth study of the Vedas and Bhagavad Gita
and uncover the societal patterns in ancient India and evolution of culture and religion.
She penned some 34 books such as The Gita Its Why and How, Human & Society in
Ancient India, Fatalism in Ancient India. She presented an analysis on how the Goddess
Lakshami in pre-Aryan agrarian society became alakshami in the Aryan society in her book
Legend of Devis which became very popular.
Some other books written by her include Bede Samsay O Nastikko, Bede Khuda O Khadya
and Balmikir Ram.

Badminton: China beats Japan to win Uber Cup

May 24, 2014
Defending champion China defeated Japan to win its 13th Uber Cup womens badminton title.
The victory comes after Chinas recent loss to Japan in the semifinals of the Thomas Cup
tournament.
The 2014 Thomas & Uber Cup was the 28th tournament of the Thomas Cup and 25th
tournament of the Uber Cup, the premier badminton team championships for men and women
respectively. The Uber Cup (also called World Team Championships for Women), is a major
international badminton competition contested by womens national badminton teams. India
earned bronze in Uber Cup

It was held at the Siri Fort Sports Complex in New Delhi, India. This was the first time
India hosted both the events i.e. Thomas Cup and Uber Cup.

Hiroshi Naka is new vice-president of World Bank

May 24, 2014
Hiroshi Naka has been appointed as vice-president and auditor general of World Bank
(WB). His appointment was announced by Banks President Jim Yong Kim.
Naka who is Japanese citizen brings in more than 25 years of experience working with the
Japanese ministry of finance and multilateral organizations, where he specialized in issues
such as economic sanctions, anti-money laundering, and supervision of financial institutions
He will shoulder the responsibility of providing leadership on evaluating and improving the
effectiveness of the organizations risk management, control, and governance processes.

Mercedes Nico Rosberg clinches Monaco F1 Grand Prix

May 24, 2014
Mercedes driver Nico Rosberg of Germany defeated main rival Lewis Hemilton of Britain
to win 2014 Monaco F1 Grand Prix. This was his second victory of the season and fifth of his
career.
With this victory, the Mercedes finished first and second position for the fifth time in a row
and has won all six races this season.
The drivers ranking after Monaco Grand Prix:
1. Nico Rosberg of Germany
2. Lewis Hamilton of Britain
3. Fernando Alonso of Spain
4. Daniel Ricciardo of Australia
5. Nico Hulkenberg of Germany
Top five teams:
1. Mercedes
2. Red Bull Racing
3. Ferrari
4. Force India

5. McLaren

6. Anti-Terrorism Day observed on MAY 21

7. May 25, 2014
8. May 21, 2014 was observed as Anti-Terrorism Day throughout the nation. The day is
observed annually to spread awareness among the people of all sections of the society,
about the danger of terrorism and violence and its effect on the people, society and the
country as a whole. The day commemorates the assassination of former Prime
Minister Rajiv Gandhi fell to the designs of terrorists in on the same day in 1991.
9. Objective: The objective behind the observance of Anti-Terrorism Day is to wean
away the people from terrorism and violence. On this occasion, debates, discussions,
symposia, seminars, etc. are organized in schools, colleges and universities on the
threats of terrorism and violence.

10.
UPSC to notify Civil Services Examination on
May 31, 2014
11. May 25, 2014
12. Union Public Service Commission (UPSC) will issue the notice for Civil Services
Examination 2014 on May 31, 2014. The esteemed exam is conducted every year to
select officers for Indian Administrative Service (IAS), Indian Foreign Service (IFS)
and Indian Police Service (IPS), among others.
13. The examination is held in 3 stages preliminary, mains and interview. As per
tentative dates, the Civil Services (Preliminary) Examination is scheduled to be held
on August 24, 2014.The mains examination is slated to be held on December 14,
2014.

14.
Scientists create Nano-diamonds which last only
for seconds
15. May 25, 2014
16. Researchers at Rice University in the US accidentally created microscopic diamonds
from coal which exist only for some seconds. Scientists witnessed this intriguing
effect while working on ways to chemically reduce carbon from anthracite coal and
make it soluble. They used a powerful electron beam for the purpose knocking the
hydrogen atoms off the coal. Surprisingly, the energy input brought clusters of
hydrogenated carbon atoms together, some of which transformed into the lattice-like
structure of nano-diamonds. Even without the kind of pressure needed to make
macroscale diamonds, the energy knocked loose hydrogen atoms to kick off a chain
reaction between layers of graphite in the coal that resulted in diamonds between 2
and 10 nanometres wide.
17. But the most of the nanodiamonds were seen to fade away under the power of the
electron beam in a succession of images taken over 30 seconds. The small diamonds
are not stable and they revert to the starting material, the anthracite.

18.
Exhibition in Germany observes 100 years of
World War I
19. May 25, 2014
20. An exhibition marking 100 years of World War I (WW I) has been organized at the
German Historical Museum, Berlin (Germany). The exhibition will run until the
end of 2014. It will take overall view of the war like events leading up to the war, the

war itself and the consequence (both from a European and a global perspective). The
WW I began on June 28, 1914 and ended in 1918.
21. It puts on display around 500 objects of WW I, including paintings of soldiers, royalty
of Europe at the time and anti-war protests. Weapons and historical documents are
also being displayed in the exhibition.
22. The exhibition looks at the escalation of violence through 14 major battlefields of
WW I, including Verdun and Gallipoli. It also focuses at the effect of the
modernization of warfare during World War I, where poison gas was used for the first
time (in Ypres, Belgium), and its physical and mental effect on soldiers and civilians.
23. Around 9 million people lost their lives in the WW I. It was during this war that the
major ideologies of the 20th century Communism, Fascism, Nazism, emerged.

24.
SIMBEX 14: India-Singapore naval
drill starts in Andaman Sea
25. May 25, 2014
26. The navies of India and Singapore are conducting the 2014 edition of the SIMBEX
14 series of annual bilateral naval exercises in the Andaman Sea. SIMBEX 14 is the
21st in the series, designed to enhance inter-operability and mutual understanding
between Indian Navy and Republic of Singapore Navy (RSN).
27. The two navies started formal bilateral cooperation in 1994 when RSN ships began
training in Anti-Submarine Warfare (ASW) with the Indian Navy. SIMBEX stands for
Singapore Indian Maritime Bilateral Exercise.

28.
Gujarats Rani ki Vav to be replicated digitally
in UK
29. May 25, 2014
30. Gujarats famous archeological monument Rani ki Vav (The Queens Stepwell) is
among five international heritage sites to be recreated digitally using latest technology
in Scotland, UK. The Scottish Ten an ambitious five-year-project aims to create
accurate digital models of Scotlands five Unesco-designated World Heritage Sites
and five international heritage sites in order to help in conservation and management
of these sites.
31. The digital models will help conserve significant historical sites for the benefit of
future generations and provide 3D digital models and data to site staff to better
preserve these sites. The laser scanning measurements will enable identification of
problems and rate of decay of the monuments which can then be addressed quickly.
Scotland hopes that digitally documenting stepwell would bring the site to a much
wider audience and enhance both its national and international profile.

32.
DeitYs Mobile Seva project wins UN Public
Service Award
33. May 25, 2014
34. Indias Mobile Seva Project started by Department of Electronics and Information
Technology (DeitY) has won the 2014 United Nations Public Service Award. The
award has been given in the category of promoting whole of government
approaches in Information Age.
35. The United Nations Public Service Awards is the most prestigious international
recognition of excellence in public service. It honors the creative achievements and
contributions of public service institutions that lead to a more effective and responsive

public administration in countries across the world. These awards promote the role,
professionalism and visibility of public service through an annual competition.
36. The Mobile Seva Project is lead by Dr. Rajendra Kumar, joint secretary (eGovernance), Deit. It was launched in January 2012, and won in second prize the
category Promoting Whole of Government Approaches in the Information Age
for Asia Pacific.
37. The project mainly develops and provides mobile apps for government and citizen
use. Available on the government website, mgov.gov.in, some of the active 299 apps
include those for passport services, election commission or more. For example, the
passport service app -mPassport Seva facilitates users to locate centres, calculate fee
for a particular service, track application status and more. There are other apps for
intra-departmental use like the employee Leave Management System app, currently
live only for Rajasthan. The project covers over 1,000 government departments and
agencies from across the country.
38. The first prize in the category was bagged by the Korean health and welfare
information service.

39.
Indian-American Akhil Rekulapelli clinches
National Geographic Bee Championship
40. May 25, 2014
41. Akhil Rekulapelli (13), an Indian American student from Virginia, has bagged the
prestigious National Geographic Bee Championship that includes a $50,000 college
scholarship. Rekulapelli beat fellow Indian American Ameya Mujumdar in the final
round of the contest held in Washington. His triumph as the national Geographic Bee
champion continues a series of Bee dominance exhibited by Indian American
students, who have also regularly topped the Scripps National Spelling Bee in recent
years, too.

Performance ratings of Banks customer services to be

made public from 2015
May 25, 2014
From 2015, performance ratings of Banks on customer services will be put in public domain
by Banking Codes Standards Board of India (BCSBI).
BCSBI is rating banks on customer services on 5 parameters:
1. Information dissemination
2. Transparency
3. Customer-centricity
4. Grievance redressal system
5. Customer feedback.

BCSBI rated 48 banks for customer service of which only 5 scored high ratings; 25 were
rated above average; 17 average; and one below average. The ratings will be made public in
2015. However, banks are not allowed to use these ratings to solicit business.
Code of Banks Commitment to Customers
The Code of Banks Commitment to Customers is a Code of Customer Rights, which sets
minimum standards of banking practices that member banks have to comply with when they
deal with individual customers. The Code provides protection to customers and explains the
manner in which banks are supposed to deal with customers in their day-to-day operations.
Banking Codes Standards Board of India (BCSBI)
The Reserve Bank of India established BCSBI in 2007 to ensure that the common consumer
of financial services from the banking industry gets what he/she has been promised. The
Board operates as an independent and autonomous body. Membership of BCSBI is voluntary
and open to scheduled banks.

Chinas maritime Silk Road development to get a boost

with 10 billion yuan
May 25, 2014
The development of Chinas Maritime Silk Road will be supported by 10 billion yuan (1.6
billion US dollars). The city government of Fuzhou, capital of east Chinas Fujian province,
inked a pact with the China Africa Development Fund (CAD Fund) and the Fujian branch of
the China Development Bank to establish a joint fund.
Chinese President Xi Jinping had proposed a 21st century maritime Silk Road during his visit
to Indonesia in October 2013. The sea route from ports in Fujian to overseas markets has
been providing China a channel to trade its silk, ceramics and tea to the world for centuries.
The fund will aid such projects as establishing marine aquaculture farms and industrial parks
in South-East Asian countries.
The CAD Fund is a private equity fund that is devoted to bridging and connecting China and
Africa, as well as governments and companies. It is specialized in operating funds on crosscountry cooperation projects.
Maritime Silk Road development project
The project is an initiative by China to resurrect the ancient maritime Silk Road. It is
perceived to be an attempt by China to ameliorate relations with South and Southeast Asia
in this case the focus is on maritime trade security. The project will prioritize construction
ports and infrastructure in strategically significant countries in Southeast Asia and the Indian
Ocean region, which includes Bangladesh and Sri Lanka. China has already begun building
of port projects in Gwadar (Pakistan), Hambantota (Sri Lanka) and Chittagong (Bangladesh)
respectively.

However, the map of the project does not show Gwadar port though it mentioned Kolkata and
Colombo as cities with which China to build closer trade linkages.
Through this project China also plans to establish free trade zones connecting Chinas coastal
areas with Southeast Asian nations and in the Indian Ocean. These are the regions with which
China had trade relations through ancient maritime Silk Road.
Importance for China
The global economic crisis and domestic social problems have rendered Chinas current
export- and FDI-driven economic model less effective. China needs to search for new export
markets or maintain existing ones, as well as narrow the development gaps between the welldeveloped coastal areas and the less-developed inland parts of the country and preserve
stability inside China and its neighbourhood. This is the main reason why the Chinese current
leadership has launched this project.
Route of proposed Maritime Silk Road
Starts: Quanzhou (Fujian province)
Via: Guangzhou (Guangdong province) Beihai (Guangxi) Haikou (Hainan)turns
south to Malacca Strait Kuala Lumpur Kolkata (crosses Indian Ocean) Nairobi (Kenya)
towards north around Horn of Africathrough Red SeaMediterranean SeaAthens
meets the land-based Silk Road in Venice.

WHO concerned about MERS virus

May 25, 2014
The WHOs Emergency Committee for MERS-CoV has raised concerns about the sharp
surge in the number of Middle East Respiratory Syndrome CoronaVirus(MERS-CoV)
cases since March 2014. The sharp increase has been seen particularly in Saudi Arabia and in
the United Arabian Emirates. The Emergency Committee has advised a number of measures
to be urgently taken, including better national policies for infection prevention and control in
healthcare facilities.
Since the virus was first detected in humans 2 years back, a total of 152 people have now
died and 495 have been confirmed to have contracted the virus in Saudi Arabia. Recently,
cases have also been reported from Egypt, Greece, Malaysia, Philippines, and the U.S. in
which infected individuals had travelled there from the Middle East.
Although it is known that the virus is widespread in camels in the Middle East and north-east
Africa, it is yet to be ascertained how transmission from animals to humans takes place. As
MERS-CoV causes mostly respiratory disease in humans, the common thinking is that such
transmission takes place via a respiratory route.
It is also speculated that milking a camel exposes the milker and those around them, as well
as the drinker of fresh frothy milk, to an aerosol which may contain MERS-CoV. The WHO

has called for studies to better understand the epidemiology of the disease and risk factors
related to the spread of the virus.

Rajiv Mathur appointed new Chief Information

Commissioner
May 25, 2014
President Pranab Mukherjee appointed former Intelligence Bureau chief Rajiv Mathur (64)
as the new Chief Information Commissioner (CIC). Mathur succeeds Sushma Singh as the
head of the transparency watchdog. His name was recommended by a three-member
selection panel headed by outgoing PM Manmohan Singh. His term will be of just 3 months.
At present, there are seven Information Commissioners Vijai Sharma, Basant Seth,
Yashovardhan Azad, Sharat Sabharwal, Manjula Prasher, M A Khan Yusufi and Prof
Madabhushanam Sridhar Acharyulu.

Delhi Govt approves scheme to provide financial help to

children of prisoners
May 26, 2014
A scheme that will provide a fixed amount of money to children of imprisoned parents has
been approved by the Delhi Government. The scheme will provide money on a monthly basis
to children of incarcerated parents till they attain the age of 18 or until his or her parents are
released from prison. The Women and Child Development Department will provide
Rs.3,000 for the first child, Rs.2,000 for the second child and Rs.1,500 for the third child.

Japan defeats Australia to lift AFC Womens Asian

Football Cup 2014
May 25, 2014
Japan won its maiden womens Asian Football Cup (AFC) defeating defending champion
Australia in the final match held in Vietnam. With this win, Japan became the first country to
simultaneously hold both the FIFA Womens World Cup (2011) and AFC Womens Asian
Football Cup (2014). Aya Miyama, the captain of Japan, was awarded the tournaments Most
Valuable Player (MVP) award for her efforts.

Real Madrid defeats Atletico to clinch Champions League

title
May 25, 2014
Real Madrid clinched the Champions League for a record 10th time beating Atletico Madrid in
the final match held in Lisbon, Portugal.

The UEFA Champions League which is popular as Champions League, is an annual

continental club football competition organized by the Union of European Football
Associations (UEFA) since 1992. It is one of the most prestigious tournaments in the world
and the most prestigious club event in European football.
Real Madrid has been the most successful club in the competitions history, having won the
tournament 10 times, including its first five editions. Spanish clubs have achieved the highest
number of wins (14), followed by England and Italy (12 wins each).

Olive Ridley Conservation programme restarted after

nearly 25 years
May 25, 2014

The wildlife flank of the Forest Department

has re-started the Olive Ridley conservation after nearly 25 years by setting up a hatchery at
Besant Nagar in Chennai. The department set up the hatchery in January 2014 near the
broken bridge behind the Theosophical Society premises. Around a dozen people have been
employed to guard the hatchery and collect eggs.
The Olive Ridley sea turtle (Lepidochelys olivacea), also known as the Pacific ridley sea
turtle, is a medium-sized species of sea turtle found in warm and tropical waters, primarily in
the Pacific and Indian Oceans.
Olive Ridley Turtles:

Scientific name: Lepidochelys olivacea .

Also known as the Pacific ridley sea turtle.

Found in warm and tropical waters, primarily in the Pacific and Indian Oceans.

Global population of annual nesting females of these turtles reduced to 852,550 by

2008.

Considered vulnerable because of their few remaining nesting sites in the world.

Largest breeding ground for these turtles: The Gahirmatha Beach in Kendrapara
district of Odisha (India), now a part of the Bhitarkanika Wildlife Sanctuary.

Bhitarkanika Mangroves designated a Ramsar Wetland of International

Importance in 2002.

Worlds largest known rookery of Olive Ridley sea turtles.

Two other mass nesting beaches on the mouth of rivers Rushikulya and Devi.

9,800 US troops to remain in Afghanistan after 2014

May 27, 2014

The US President Barack Obama announced that he will leave 9,800 US troops in
Afghanistan through much of 2015 and refrained from ending Americas longest war
until at least his final year in office.
The positioning of residual forces in Afghanistan engages the US in a conflict that has
lasted longer than any other US war and which many consider related to long-term US
strategic interests.
As per the plan, the US troops would no longer conduct direct combat missions, as it
has for the past 13 years, with the exception of supporting counter-terrorism
operations against remnants of al-Qaida. US special operations forces are almost
certain to remain in the country for that purpose. Apart from the counter-terrorism
mission, the US will continue training the Afghan armed forces they have supported
for years.

Sachin Tendulkar chosen as Goodwill Ambassador of

the 35th National Games

May 27, 2014

Kerala Government has announced cricket legend Sachin Tendulkar as the Goodwill
Ambassador for the 35th edition of National Games, slated to be held across seven
cities in Kerala early in 2015.
Sachin was chosen as the ambassador during his meeting with Oommen Chandy, the
Chief Minister of Kerala. Besides, Mr. Chandy also announced the name of the Kochi
franchise team owned by Sachin Tendulkar in the Indian Super League Football
Tournament. The team will be called Kerala Blasters Football Club.

Ahmed Maitiq is Libyas new PM

May 27, 2014

Ahmed Maitiq took oath as Libyas new Prime Minister along with his cabinet
ministers amidst objections against his election process. Libyan Parliament has been
in an impasse since former leader Muammar Gaddafi was ousted in 2011 after
protests.
Politicians have raised objections against Maitiqs election as PM because out of the
200 lawmakers, only 93 were present in the confidence vote. Out of the 93 votes, 83
votes supported Maitiq as the PM. Many have called the confidence vote meaningless
considering the absence of over 50% of lawmakers.

Badminton: Japan beat Malaysia to win its first

Thomas Cup

May 26, 2014

Japan clinched its first Thomas Cup defeating Malaysia in the final match held at Siri
Fort Sports Complex in New Delhi. Japan defied all the odds and pre-tournament
predictions to carve their name in history winning their first Thomas Cup.

The 2014 Thomas & Uber Cup was the 28th tournament of the Thomas Cup and 25th
tournament of the Uber Cup, the prestigious badminton team championships for men
and women respectively. The Thomas Cup (World Mens Team Championships), is
an international badminton competition.
This was the first time India hosted both the events i.e. Thomas Cup and Uber
Cup.

Singapore replaces Mauritius as the top source of FDI in

India
May 27, 2014
As per the data of the Department of Industrial Policy and Promotion (DIPP), during the
financial year 2013-14, India received $5.98 billion in FDI from Singapore, whereas it was
$4.85 billion from Mauritius. With this, Singapore has replaced Mauritius as the top
contributor to Indias FDI. FDI inflow recorded in 2013-14 is the highest ever received from
Singapore since 2006-07 which accounts for around 25% of total FDI inflow in India.
Experts believe that the Double Taxation Avoidance Agreement (DTAA) with Singapore
incorporates Limit-of-Benefit (LoB) clause which has provided comfort to overseas
investors based there. LoB clause in India-Singapore treaty justifies the substance in
Singaporean entities, bringing certainty and avoiding possibilities of litigations.
FDI inflows from Mauritius have begun enervating on apprehensions over the impact of
General Anti Avoidance Rules (GAAR) and possible re-negotiation of the tax avoidance
treaty. The debatable General Anti Avoidance Rules provision, which seeks to curb tax
avoidance by investors routing their funds through tax havens, will come into effect from
April 1, 2016 in India. The rule will be applicable to entities claiming tax benefit of at least
Rs 3 crore. It will apply to Foreign Institutional Investors (FIIs) that have claimed benefits
under any DTAA.
The DTAA signed between India and Mauritius DTAA is under revision amid concerns that
Mauritius is being used for round-tripping of funds into India even though that country has
always maintained that there have been no strong evidence of any such misuse.

5.5 million invisible babies are born and die each year
May 27, 2014
About 5.5 million babies (around 3 million neonates + 2.6 million stil-births) die every year
globally. Every day, about 8,000 neonates die and about 7, 000 are stillbirths. Stillbirths occur
at about 28 weeks of gestation and also during labor. Nearly half of all stillbirths are those
who die during labour- just 5 minutes before birth.
Five countries account for half of all the newborn mortality across the world. These are:
1. India (highest): 7,79,000 deaths

2. Nigeria: 2,76,000
3. Pakistan: 2,02,400
4. China: 1,57,000
5. Democratic Republic of Congo: 1,18,000
While significant achievement has been made in reducing the number of deaths in children
aged under-five by half, the progress in bringing down the number of newborn deaths has
been slower.
The progress is even worse in the case of stillbirths. Stillbirths are not counted in the
Millennium Development Goals.
What is shocking is that most of the 2.6 million stillbirths every year across the globe go
unrecorded as in most countries stillbirths do not get birth or death certificates, which
makes these births and deaths invisible.

Bangladesh nationals settled in India before 1971 are

Indians and can vote: Meghalaya HC
May 27, 2014
As per a judgment by the Meghalaya High Court, Bangladesh nationals who have settled in
Meghalaya before March 24, 1971 should be treated as Indians and they should be enrolled in
the voters list.
The verdict was based on a petition filed by over 40 refugees, living Amjong village near the
Assam-Meghalaya border in Meghalayas Ri-Bhoi district who were originally from
Bangladesh, who were refused enrolment in the electoral roll and their citizenship certificates
were seized by the district administration citing their citizenship as doubtful.
The court held that there was an understanding between the two nations as to who should be
permitted to stay and who should be sent back to Bangladesh. It observed that as the
forefathers of the petitioners entered India much before March 24, 1971 there was no
question of deporting them now when they have acquired the right of permanent
rehabilitation in Amjong village. The court dismissed the contention that they were
Bangladesh citizens and directed the state government and the Centre not to disturb them, but
to provide them proper rehabilitation. Earlier, the state government had contended that the
petitioners and their forefathers were not permanent citizens and were rehabilitated
temporarily by the autonomous district council.

PM Modi sets up new Ministry for Skill Development and

Entrepreneurship
May 27, 2014

Prime Minister Narendra Modi has created a Ministry for Skill Development and
Entrepreneurship in order to address the challenge of skills deficiency in the country.
Sarbananda Sonowal has been appointed Minister of State for Skill Development and
Entrepreneurship.
As per National Skill Development Corporation India (NSDC), a PPP initiative for skill
development, India is not producing sufficient number of people with skills for an economy
as a whole to grow at a 10-12% growth. As per an NSDC survey of the skills gap, over the
next 12 years Indian industries need 240 million people just to sustain the current growth rate.
The whole education system only produces about 12 million graduates and another 4.3
million people who come out of the education system as skilled people in a year.
India aims skilling / upskilling 500 million people in the country by 2022, mainly by
furthering private sector initiatives in skill development programmes and providing viability
gap funding.

Mauritius to provide India automatic exchange of tax

information
May 28, 2014
In a step taken to address Indias concerns about Mauritius being used for money laundering
activities, the island nation has decided to provide automatic exchange of tax related
information with India.
India and Mauritius have also agreed upon to have an innovative partnership to strengthen
their bilateral ties. In this direction, the Prime Ministers Office (PMOs) of both nations
would set up special cells for effective implementation of ideas.
Around 70% population of Mauritius is of the people of Indian descent. The incumbent Prime
Ministers father, late Seewoosagur Ramgoolam was a leader in Mauritian independence
movement and also served as the first Chief Minister and Prime Minister of Mauritius.
Seewoosagur Ramgoolam is also known as Father of Nation of Mauritius.

Vineet Taneja to be Micromax CEO

May 27, 2014
Gurgaon based mobile-maker Micromax has appointed Samsung Indias former mobile and
IT business chief Vineet Taneja as its new Chief Executive Officer (CEO).
Micromax, the countrys second largest smartphone player, hopes the step will help it
further strengthen its position in the market, which is witnessing sharp growth.

TGCN: Newly created graphene-type material

May 27, 2014

Scientists have created a new material- Triazine-based Graphitic Carbon Nitride

(TGCN) similar to Graphene, which has the potential to improve transistors used in
electronic devices. Though TGCN was predicted theoretically in 1996, but this is the first
time that it has been created.
Graphene is one atom thick, strong and conducts heat and electricity highly efficiently. The
new TGCN material is also two-dimensional, but it has an electronic band gap, making it
potentially suitable for use in transistors.
Normally, Transistors are made of costly silicon that produces heat when used in electronic
devices. There has been a search for a material that is carbon-based and that has the electronic
band gap needed for use as a semiconductor.

Ranchis Kanke Dam endangered by waste

May 27, 2014
Ranchis key water reservoir Kanke Dam that hitherto provided water to thousands of
houses located around it has been receiving waste emanating from human activities
concentrated around its periphery which has become a threat of extinction to the water body.
The dam situated in the Kanke area of Ranchi is famous for its beautiful picnic spot besides a
place that offers tranquility.
But the Dam has been an object of neglect for the State Government. The Dam which was
built in 1954 has not been cleaned even once since it came into existence. Algal bloom has
started in the dam and it is creating a lot of problem for the treatment plant. It affects quality
of the water. Besides, the water body has reduced in area.

DRDO successfully test-fired Akash supersonic missiles

May 28, 2014
Akash air defence missiles were test-fired successfully by Defence Research and Developmet
Organization (DRDO) off the coast of Balasore in Odisha. Three Akash missiles were fired
from the Integrated Test Range (ITR) at Chandipur (Odisha), on tow body target of Lakshya
Pilotless Target Aircraft (PTA) moving at low altitude for boundary and ripple mode
missions. The missiles were successfully guided by multi-function phased array radar
developed by Electronics and Radar Development Establishment, a DRDO Lab and produced
by Bharat Electronics Ltd (BEL).

CCI approves purchase of 50% stake of Tatas Trent

Hypermarket by Tesco
May 28, 2014
The Competition Commission India (CCI) approved British retail giant Tescos acquisition
of a 50% stake in Tata Group firm Trent Hypermarket, the first Foreign Direct Investment
(FDI) transaction in multi-brand retail since the sector was opened up in 2012. As per

CCI, it doesnt expect the proposed combination to have appreciable adverse effect on
competition in India. Trent Hypermarket currently operates just 16 retail stores and its total
revenue, as per the annual report of Trent, during the financial year 2012-13 was only around
Rs 785 crore, which is negligible as compared to the size of the overall retail market as well
as the organized retail market in India.
According to CCI, as Tesco is not present in the retail market in India, there is no horizontal
overlap between the business activities of the two firms in the local retail market.
While the central government has permitted FDI in supermarkets, some states have stalled the
plans of foreign retailers to set up businesses by deciding against implementing this FDI
policy.

Punjab approves mega food park in Ludhiana

May 28, 2014
Punjab government gave in-principle approval for establishing a Rs. 150-crore mega food
park at Ladowal in Ludhiana to promote food processing industry in the state.
The Central Governments scheme of Mega Food Park, which aims at providing a
mechanism to link agricultural production to the market, provides for a one-time capital grant
of 50% of the project cost, subject to a limit of Rs. 50 crore in general areas and 75% of the
project cost, subject to a limit of Rs. 50 crore in difficult and hilly areas.
Mega Food Parks Scheme
This scheme was launched in the 10th Plan as Scheme of Food Parks and was revised during
the 11th Plan period and was rechristened as Mega Food Parks Scheme (MFPS). The
scheme was approved by the Union Government in September 2008.
Objectives of MFPS:

To accelerate growth of food processing industry in the country.

Enhance the processing of perishables in the country from the current 6% to 20%.

Raising value addition from existing 20% to 35%.

Increase Indias share in global food trade from 1.5% to 3% by year 2015.

RhoDIS: DNA-based tool to probe poaching

May 28, 2014
Assam government is considering introducing RhoDIS (Rhino DNA Indexing System), a
DNA-based forensic tool to probe and prosecute suspects involved cases of rhino poaching.
The tool will be used in the collection of each individual rhinos unique DNA profile and

developing a database which can be referenced when producing legal evidence in cases of
rhino poaching.
It has been observed that poachers often go scot-free for want of irrefutable evidence.
Poachers killed and dehorned 41 rhinos in Assam and about 1,000 rhinos in South Africa in
2013. In 2014, as many as 16 rhinos have been killed in Kaziranga, Assam. The Assam
government is also mulling over the option of establishing fast-track courts to conduct speedy
trials against poachers. The RhODIS would help provide concrete evidence, as required for
conviction in poaching cases.

Diamond Quadrilateral for High-Speed Rail

May 28, 2014
The ruling BJP promised in the election manifestos for 2014 Lok Sabha election, introduction
of High-Speed Rail (HSR) in the country. It pledged to build the Diamond Quadrilateral
project connecting four major cities of India located in four edges of the country.
If implemented properly, the Diamond Quadrilateral HSR project has the potential to
dramatically transform India much like the Atal Bihari Vajpayee Governments Golden
Quadrilateral highway project.
Current Status:
Let us compare speed of trains in China with that in India. The distance between Shanghai
Hongqiao and Beijing South railway stations is 1318 kilometers; the distance between New
Delhi and Mumbai Central railway stations is 1380 kilometers. While the fastest train
(several of them) between the former pair of stations takes exactly 4 hours and 48 minutes,
the time taken by the fastest train between the latter pair of stations takes 16 hours and 5
minutes, three times longer.
Although India has one of the largest rail networks in the world, it does not have any HSR
rail tracks capable of supporting speeds of 200 km/h (124 mph) or more. High-speed
corridors have been proposed but not executed.
Now, a standardization body will examine different options available and provide a common
standard to be emulated in implementation across India. Though HSR is still under discussion
with no official long-term implementation plan announced, but first railway lines are
expected to become operational between 2030 and 2035.
Right now, India is concentrating on high-speed railway track rather than high-speed rail,
so that Indian rails can run faster on the current tracks, with a maximum speed at around 160
to 200 km/h; clocking average of 130 km/h.
Indian Railways approach to High Speed
Indian Railways will exercise an approach of incremental improvement to high-speed on
current conventional lines for up to 160 km/h, with a foresight of speed above 200 km/h on
new tracks with state-of-the-art technology, such as Shinkansen/TGV/etc. While they do not

define high-speed, Indian Railways approach matches the high-speed definitions of the
Trans-European high-speed rail network, for upgraded lines and new lines built for highspeed.
Dedicate tracks to passenger trains
Separate corridors for freight trains will be built which will provide dedicates tracks on
existing trunk lines to passenger trains. Separate tracks will also be constructed for busy
suburban traffic in Mumbai and other cities where traffic is equally intense. Without slower
freight and suburban traffic, fast-express trains can run at the speed limit of rolling stock, the
railway track or railroad switch, whichever is lowest among those that apply.
Track-Upgrade for 250300 km/h
The dedicated passenger tracks will be upgraded with heavier rails, and will build the tracks
to a close tolerance geometry fit for 250300 km/h. Automation will be used for maintenance
and inspection of high-speed tracks. Design, manufacture and deploy railroad switches, with
thick web construction and movable crossings that permit 50 km/h to alleviate this
obstruction to speed.
Upgrade locomotives and coaches
The train coaches will be improved to support 160 km/h, with stainless steel bodies and
crash-worthy designs, incorporating passenger and crew protection, and fire-retardant
materials. Electro-pneumatic brake systems will be fitted with coaches to enhance safe
operations at 160200 km/h.

Father of Malaysian Hockey Sultan Azlan Shah passed

away
May 28, 2014
Hockey pioneer and Father of Malaysian Hockey, Sultan Azlan Shah(86) passed away.
He was known for his stupendous contribution to the sport for over 41 years both as a
player and an administrator.
His intense love for hockey inspired him to start the Sultan Azlan Shah Cup hockey
tournament in 1983. The Sultan Azlan Shah Cup began as a biennial event but became an
annual event after 1998 and is hosted in the Perak capital of Ipoh.
Under his aegis, Malaysia hosted two hockey World Cups 1975 and 2002 editions. In 1997,
he was elected as the president of the Asian Hockey Federation and he held the post until his
death. He also became the Vice-President of the International Hockey Federation (FIH) in
1992 and served two terms.

Reliance India Ltd acquires Network18

May 28, 2014

Mukesh Ambani owned Reliance Industries Ltd (RIL) is buying a majority stake in Raghav
Bahls Network18 Media and Investments and its subsidiary TV18 Broadcast through
Independent Media Trust (IMT), of which RIL is the only beneficiary.
The RIL gave nod to funding of up to Rs 4,000 crore to IMT, which will utilize the funds to
acquire a 78% stake in Network18, a 9% stake in TV18 and shares tendered in an open offer
to be made for public shareholders equity stake in Network18, TV18 and Infomedia Press
Ltd (the publishing branch of Network18).
Network 18 owns a range of premier digital internet properties, e-commerce businesses and
differentiated broadcast content.
Channels of Network TV
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Central,HomeShop18,Topper, ETV Network, History TV18, History TV18 HD
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commoditiescontrol.com, homeshop18.com, Cricketnext.com, Compareindia.com,
tech2.in.com.

Ordinance promulgated to appoint Nripendra Misra as

Principal Secretary
May 28, 2014
The Centre promulgated an ordinance to clear the way for retired IAS officer and former
chairman of Telecom Regulatory Authority of India (TRAI) Nripendra Misras appointment
as Principal Secretary to Prime Minister Narendra Modi. The ordinance expedited by the
government designed to amend the Telecom Regulatory Authority of India (TRAI) Act,
1997, which prohibits a chief of the regulatory body from future employment under the
central and state governments.
When Misra was TRAI Chairman, he wrote to the Communications Ministry saying Section
5(h) of the TRAI Act, which forbade the head of the telecom regulator from seeking further
employment, was unreasonable and should be eliminated. He argued that no such
prohibitions applied to chairpersons and members of other important regulators like
Competition Commission of India and SEBI.
As per Section 5(h) of the original TRAI Act, the chairperson of the regulatory body, upon
ceasing to hold such office, shall be ineligible for further employment under the central or
state government, and cannot accept any commercial employment for a period of 2 years. It
is for this reason the Centre took ordinance route to amend the TRAI Act which was drafted
by the Ministry of Law and Justice and moved for clearance by the Cabinet. After Cabinet
nod, the legislation was sent to the President.

NASA designs high-tech cages to transport rats to ISS

May 28, 2014

The US space agency has developed high-tech cages to transport rodents from Earth to the
International Space Station (ISS) to enable researchers to study the long-term effects of
microgravity on mammalian Physiology. These Rodent Habitat modules will first fly in
August 2014 aboard an unmanned SpaceX Dragon cargo ship.
The newly designed habitats allow carrying the animals to the space station as well as
provide for their long-term accommodation. Each habitat module accommodates 10 mice or
six rats with all of the basics they need to live comfortably aboard the station including water,
food, lighting and fresh air. A visible light and infrared video system enables the crew in
space and researchers and veterinarians on the ground to monitor behaviour and overall
health of the rodents on a daily basis.
Since rodents physiology matches with that of humans and the former develop and age much
faster than humans, studying rodent model organisms will speed up the understanding of
diseases that may take years or decades to develop in humans. Furthermore, rodents may be
studied in space during different developmental stages of life. Spaceflight rodent studies are
important for developing countermeasures procedures, drugs or devices to protect
health during spaceflight.

Russia and China veto UN resolution to refer Syrian crisis

to ICC
May 28, 2014
A draft UN resolution proposing Syrian crisis to be referred to the International Criminal
Court (ICC) has been vetoed by Russia and China. The two permanent members of the
United Nations Security Council (UNSC) ignored the support for the measure by 65 other
countries and all other members of the UNSC. It is the fourth time Russia has blocked a
UNSC resolution on Syria.
The draft resolution was favored by 13 of the 15 members of the UNSC. Russia and China
both cast their vetoes the power which is restricted to the 5 permanent members (Russia,
China, the US, France and the UK).
The Syrian conflict has caused an estimated loss of 160,000 lives and displaced millions of
people since it started in March 2011.
65 nations had appealed to all 193 UN member states to co-sponsor the resolution, under
which the ICC would be empowered to investigate allegations of heinous crimes by the
Syrian government, pro-government militias, and armed opposition groups.
The draft resolution was proposed by the France before the 15-nation UN body. 13 votes
were in favour and 2 voted against the proposal.
As Syria is not a state party to the Rome Statute that established the ICC, the only way to
refer its case to the ICC is by the UN Security Council. So, France introduced the resolution
among the council members to refer Syrian Civil war to ICC.

For a draft resolution to be adopted by the UNSC, it needs 9 votes in favour and the
absence of a negative vote (veto) by any of the 5 permanent members of the Security
Council.

New government, capital inflow make Rupee best

performing Asia-Pacific currency
May 28, 2014
Strengthened by capital inflows and excitement about the new incoming government, the
Rupee reached 11-month high which has made it the best performing currency in AsiaPacific region against the US dollar so far in 2014.
It has gained 5.3% since the start of 2014 and has leapt ahead of its other Asia-Pacific peers,
including Indonesias rupiah and New Zealand dollar, in terms of year-to-date increase.
The rupee, which was at 58.52 levels in recent days, has shown remarkable recovery since
August 2013 when rupee fell to its life-time low of 68.80. Since the start of 2014 when rupee
was at Rs.61.8 level per US dollar, it has recorded a gain of 327 paise in less than 6 months.

Golden Quadrilateral contributing in economic growth

May 28, 2014
The Golden Quadrilateral, the highway network that links many Indias four key cities
Delhi, Mumbai, Kolkata and Chennai thus connecting the major industrial, agricultural and
cultural centres of India- is helping in the economic growth and national integrity of the
country.
Golden Quadrilateral (GQ):
The project was started in 2001 by Atal Bihari Vajpayee under the NDA government, and
was completed in January 2012. It was the Phase-1 of the bigger National Highway
Development Project that was launched in 1998 by the same government. GQ, consisting of
5,846 km (3,633 mi) four/six lane express highways, was the largest highway project in India
and the fifth longest in the world when it was launched. It is so named as it forms a
quadrilateral of sorts by connecting Delhi, Mumbai, Kolkata and Chennai. Other cities among
the top metropolises namely Pune, Ahmedabad, Jaipur, Kanpur, Surat at north and Bengaluru,
Visakhapatnam & Bhubaneswar at south are also connected by the network. It is managed by
the National Highways Authority of India (NHAI) under the Ministry of Road, Transport
and Highways.
Economic benefits
The projected economic benefits of the GQ project
1. Faster transport networks between major cities and ports.

2. Smoother movement of products and people within India.

3. Impetus to industrial and job development in smaller towns through access to
markets.
4. Opportunities for farmers, through improved transportation of produce from the
agricultural hinterland to major cities and ports for export, through lesser wastage and
spoils.
5. Driving economic growth directly, through construction as well as through indirect
demand for cement, steel and other construction materials.
6. Boosting truck-transport throughout India.

7. Malavath Purna- Girl from Andhra becomes

youngest woman to climb Everest
8. May 28, 2014
9. In a historic achievement, Malavath Purna (13) became the youngest female
mountaineer to scale the Mount Everest. Purna was accompanied by Sadhanapalli
Anand Kumar (16), a Class IX student from the Khammam district of Andhra
Pradesh. Anand and Purna are both students of Andhra Pradesh Social Welfare
Educational Society.

10.

T.R Zeliang take oath as Nagaland CM

11. May 28, 2014

12. T.R. Zeliang, leader of Naga Peoples Front (NPF), was sworn in as the Chief
Minister of Nagaland following the resignation of Neiphio Rio, who has been elected
to Lok Sabha. The NDF-led ruling Democratic Alliance of Nagaland (DAN-III)
government was formed in March 2013. Mr. Rio resigned from the office after serving
Chief Minister of the state for over 11 years following his victory in the recent Lok
Sabha polls.

13.
ONGC starts drilling in Palar basin in Tamil
Nadu
14. May 28, 2014
15. The Oil and Natural Gas Corporation (ONGC) has begun drilling its first-ever well
in the Palar basin at Chinnapuliyur village near Gummidipoondi, about 55 km from
Chennai.
16. ONGC had already started exploration in six out of seven sedimentary basins in India.
The Palar basin was the seventh.
17. The Palar basin, spanned over an area of 1,800 sq.km., lies between the two
petroleum-bearing Krishna-Godavari and Cauvery basins. The ONGC hopes to
discover significant columns of hydrocarbons in the basin.
18. The block called PR-ONN-2005/1, where Chinnapuliyur is located, was a joint
venture with the ONGC and Tata Petrodyne Limited (TPL). TPL holds 20% stake in
the joint venture.

19.
Indias OVL and Russias Rosneft ink pact to
explore hydrocarbons
20. May 28, 2014

21. The overseas subsidiary of the state-owned explorer ONGC- ONGC Videsh Ltd
(OVL), has struck a deal with Russias largest oil and gas producer Rosneft to jointly
explore hydrocarbons in the offshore Arctic. The agreement will facilitate the OVLs
cooperation in subsurface surveys, exploration and appraisal activities and
hydrocarbons production in Russias offshore Arctic. Rosneft is also considering
supplying crude oil to Indian refineries.
22. India does not have a firm contract to import crude oil from Russia. It receives small
volumes occasionally from OVLs Sakhalin-1 project in Far East Russia. OVL has a
20% stake in the Sakhalin-1 oil and gas field in the Russian Pacific Ocean.

India Infrastructure Index launched by Asia Index

May 29, 2014
Anticipating investment boom in infrastructure sector as the government re-starts stalled
projects, Asia Index, a joint venture of BSE and S&P Dow Jones Indices, launched India
Infrastructure Index that comprises the top 30 companies based on market capitalisation from
five sectorsEnergy, Transportation, Non-Banking Financial Institutions,
Telecommunications and Utilities. The 30 companies will be picked from the BSE 500
index.
As per Asia Index, the 30-stock index is designed to serve as both a benchmark and an
investable index. This is the third index launched by Asia Index after the Shariah Index and
the S&P BSE India 10-year Sovereign Bond Index.

Pinaka rockets test-fired successfully

May 29, 2014
Indias Multi-Barrel Rocket Launcher (MBRL)Pinaka rockets, capable of decimating
hostile targets at 40kms-range with rapid salvos, successfully test- fired thrice at an armament
base in Chandipur, Odisha. The rockets, which have been subjected to several tough tests
since 1995, have been already inducted into the armed forces and the current trials were
performed with some improvements in the weapon system. Three rounds of Pinaka rockets
were successfully tested from the Proof and eXperimental Establishment (PXE) at
Chandipur.
Indigenously developed by DRDO, Pinaka is an unguided rocket system meant to neutralise
large areas with rapid salvos. With a battery of 6 launchers, the system can fire a salvo of 12
rockets in 44 seconds and neutralise a target area of 3.9 sq km. It gives an edge to the army
with its quick reaction time and high rate of fire, thus, supplementing artillery guns.

Sushma Swaraj -The first woman to head MEA

May 29, 2014
In yet another first for BJP leader Sushma Swaraj (62), she has become the first woman
External Affairs Minister of India. She is the countrys first woman to be appointed as a full-

time Cabinet minister with the external affairs portfolio. Indira Gandhi too held the portfolio
between September 1967 and February 1969 and again between July and October 1984, but it
was among the portfolios she retained with her as Prime Minister.
Sushma Swaraj has several other first to her name:
1. At the age of 25, she became the youngest cabinet minister in Haryana government in
1977.
2. First woman Chief Minister of Delhi in 1998.
3. She was the first woman spokesperson for any political party in India and won the
Outstanding Parliamentarian Award.

Justice MB Shah Committtee: SIT to probe black money

May 29, 2014
In its first major step after assuming charge, Prime Minister Narendra Modis government has
ordered the formation of a Special Investigation Team (SIT) to investigate black money,
mostly hoarded abroad.
Composition of SIT
The SIT will be headed by retired Supreme Court judge MB Shah. Its other members
include Secretary revenue, deputy governor of the Reserve Bank of India, director of the
Intelligence Bureau, director of the Enforcement Directorate, director of the Central Bureau
of Investigation (CBI), chairman of the Central Board of Direct Taxes and director of the
Research and Analysis Wing (RAW).
As per an estimate by the US-based think tank Global Financial Integrity, the illegal money
outflow from India is around $462 billion.
The black money refers to the money that is earned and transferred illegally abroad in tax
havens like Cayman Islands and Mauritius, generally to evade tax. Real estate is believed to
account for nearly a third of black money transactions. Other major areas of black money
transactions include manufacturing, gold and consumer goods purchases.

India inks $ 1006.20 million loan pact with World Bank

US for Sarva Shiksha Abhiyan III
May 29, 2014
India inked $1006.20 million International Development Assistance (IDA) loan agreement
with World Bank for Sarva Shiksha Abhiyan III.
At present, Sarva Shiksha Abhiyan (SSA) is the largest ongoing Education For All (EFA)
program in the world. It is the flagship programme for universalizing elementary education.

The project aims to achieve universal access and retention, bringing down gender and social
category disparity in elementary education and enhancement of learning levels of children.
The World Bank aid to Sarva Siksha Abhiyaan-III will mainly focus on qualitative
improvement in the learning process of the children.
This will also facilitate smooth and effective implementation of the whole Sarva Siksha
Abhiyan project. The objective of this project with World Bank IDA is to improve education
outcomes of elementary school children in India. It will aid in bringing qualitative
improvements in the programme by putting into use the World Banks global experience.
About 200 million children enrolled in elementary schools and 4.5 million teachers in the
sector are expected to benefit with this project. The benefits of the project also include
development of grade and subject specific learning indicators to measure childrens progress
in acquiring expected knowledge and skills at different grade level. It will also bolster
monitoring and evaluation for teachers accountability.
The project will be implemented by the Ministry of HRD (Human Resource
Development0 in a period of 3 years.

Ajit Doval appointed as the new National Security Advisor

May 29, 2014
The new government at Centre appointed former Intelligence Bureau Chief Ajit Doval as
National Security Adviser.
He retired in January 2005 as the chief of Intelligence Bureau. His tenure will be coterminus with the term of the Prime Minister or till further orders, whichever is earlier.
Doval is a 1968-batch IPS officer and is known for his sharp intelligence skills. He was
Indias main negotiator with the hijackers of Indian Airlines plane IC-814 taken to Kandahar
in 1999.

Mukul Rohatgi is the new Attorney General of India

May 29, 2014
The new government at the Centre appointed senior advocate Mukul Rohatgi as the new
Attorney General of India (AGI) to take over from G E Vahanvati as the 14th AG of the
country.
The AGI is the Indian governments chief legal advisor, and its primary lawyer in the
Supreme Court of India. He is appointed by the President of India under Article 76(1) of the
Constitution and holds office during the pleasure of the President. He must have
qualification to be appointed as a Judge of the Supreme Court. Like the Advocate General of
a State, the Attorney General is not supposed to be a political appointee, in spirit, but this is
not the case in practice. Every time a new government attains power at the Centre, all the law
officers resign and law officers loyal to the new party are appointed.

Vishwanath Tripathi awarded Vyas Samman

May 29, 2014
Noted Hindi author Vishwanath Tripathi awarded the prestigious Vyas Samman for the year
2013. He was awarded for his memoir Vyomkesh Darvesh, a biolgraphy of noted Hindi
scholar Acharya Hazari Prasad Dwivedi. Vyomkesh Darvesh is a biographical criticism and
its speciality is that the personality (Hazari Prasad Dwivedi) that it describes, has been
written about by his own student in his (Dwivedis) own style.
Vyas Samman is an annual literary award instituted in 1991 by the K K Birla Foundation
which carries an amount of Rs 2.5 lakh and is given to an outstanding literary work in Hindi
published during the last 10 years.

FIFA World Cup ball Brazuca has in-built cameras

May 31, 2014
In a latest development showing how much the technology has

mingled with sports, Brazuca- the balls to be used in the upcoming FIFA World Cup in
Brazil- has been designed with six in-built HD cameras to capture 360 degree view of the
on-field action.
Brazuca has shades of blue, orange and green, and stars on it reflecting the vibrancy and flair
associated with the game in the Mecca of football. This time the ball is said to have much
improved touch and accuracy. The technology involves a new structural innovation with a
unique symmetry of six identical panels alongside a different surface structure that will
provide improved grip, touch, stability and aerodynamics on the pitch.

Kamal Nath will Pro-tem Speaker of 16th Lok Sabha

May 31, 2014
Senior Congress leader and former union minister Kamal Nath will be the Pro-tem Speaker
of the newly elected Lok Sabha. As the Pro-tem Speaker of 16th Lok Sabha, Mr Nath will be
responsible to formally start the proceedings to the new Lok Sabha. Among his
responsibilities will be to swear-in the newly-elected MPs and help the election of the new
Speaker of the 16th Lok Sabha.

Goa Day was observed on May 30

May 30, 2014

Goa observed Goa Day on May 30 as its 27th Statehood anniversary. It was on this day in
1987 when Goa became 25th State of the Indian Union.
Story of Goa joining Union of India
Goa remained a territory under Portuguese Empire from 1510 to 1947. After Independence
India requested Portuguese to cede Goa and few other holdings to India, which was refused
by Portugal.
On the contrary, Portugal lodged a complaint against India in the International Court of
Justice at The Hague. In 1960, the court held in its judgment that Portugal had right to the
enclaves but that India equally had a right to deny Portugal access to the enclaves over Indian
Territory.
In December 1961, Indian forces launched Operation Vijay and entered Goa as a result of
which the Portuguese forces surrendered. Following this action, a resolution condemning the
action of India was proposed in the United Nations Security Council which was vetoed by the
USSR. Then, under Indian control, Goa voted in a referendum to become an autonomous,
federally administered territory. Goa was attained statehood on May 30, 1987.
Note: Goa Day is different from Goas Liberation Day that is observed on December 19
every year.

Two additional attempts, no change in pattern and

syllabus of the Civil Services Examination: UPSC
May 30, 2014
The government has decided to allow two additional attempts with consequential age
relaxations to all categories of candidates with effect from Civil Service Examination
(CSE), 2014. However, contrary to the speculations in the market, the format and syllabus
will remain the same. The Union Public Service Commission will release CSE notification
by May 31, 2014.
At present, candidates from General category are allowed a maximum of four attempts for the
examination. However, there is no restriction on number of attempts by a candidate belonging
to Scheduled Castes (SCs) and Scheduled Tribes (STs). Aspirants belonging to Other
Backward Classes (OBCs) are allowed as many as seven attempts.

CSIR & IMD collaborate for joint production of Drishti

System
May 31, 2014
In a major development in the field of aviation safety CSIR-National Aerospace Laboratories
(CSIR-NAL), Bangalore and India Meteorological Department (IMD) inked a partnership

pact for joint production of Drishti System; a sophisticated instrument for assessment of
Runway visual range, which is a vital parameter for safe landing and takeoff of aircraft in
poor visibility.
The joint agreement between two government sector entities will lead to indigenization of a
technology which so far was the exclusive domain of few developed countries. The
indigenous production of this advanced instrument will not only result in considerable saving
of foreign exchange but will also make the country self-reliant in the field of front-end
technology.
Drishti Transmissometer (Drishti System)
A visibility measuring system indigenously designed and developed by CSIR-NAL to cover
the wide span of lowest to highest visibility (< 25 to > 2000 meters) assisting pilots for safe
landing and take-off. This cost-effective product is a mandatory system required at all airports
as per International Civil Aviation Organisation (ICAO) and World Meteorological
Organisation (WMO). At present, Seven Drishti systems are functioning in three international
airports, viz., Choudhary Charan Singh International Airport, Lucknow, Netaji Subhash
Chandra Bose International Airport. Five systems are working in countrys most stringent
CAT IIIB airport, viz., Indira Gandhi International Airport, New Delhi, for the last 2 years.
Other important features of this system include web enabled health monitoring and remote
control of the system from any location in the country for accessing the data and for
maintenance.
Drishti has also won several awards during 2013-14 from National Research
Development Corporation (NRDC), Institution of Electronics and Telecommunication
Engineers (IETE), India, and Indian Electronics & Semiconductor Association (IESA)
as the most innovative, meritorious product of the year.

Indias Forex reserves up by $ 15.5 billion in FY14: RBI

May 31, 2014
As per RBI, Indias foreign exchange (Forex) reserves jumped by $15.5 billion in the
Financial Year (FY) ended March 2014. The reserves stood at $303.67 billion.
As per data released by the RBI on Indias Forex status:

On Balance of Payments (BoP) basis (excluding valuation effects), the forex reserves
surged by $15.5 billion during FY14 as compared to an increase of $3.8 billion during
FY13.

If the valuation effects are included, the reserves rose by $12.2 billion in FY14 as
against a decrease of $2.4 billion in the same period of the FY13.

The valuation loss, showing the cross currency movements and the reduction in gold
prices, amounted to $3.3 billion in FY14 as compared to a valuation loss of $6.2
billion in FY13.

The current account balance in the FY 14 reduced to $32.4 billion compared to $ 88.2
billion last fiscal.

Capital account balance decreased by half to $47.9 billion in FY14 from $92 billion in
FY13, mainly due to sharp drop in portfolio investment.

During FY14 portfolio investment dropped to $4.8 billion as compared to $26.9

billion in FY13.

Foreign Direct Investment (FDI) increased slightly by $21.6 billion in FY14 as

compared to $19.8 billion in the FY13.

Foreign Institutional Investors (FII) investment declined to $5 billion as compared to

$27.6 billion in 2012-13.

NRI deposits more than doubled to $38.9 billion as against $14.8 billion in the FY 13.

In FY14 External Commercial Borrowings jumped to $11.8 billion compared with 8.5
billion in FY13.

RBI tightens merger rules for NBFCs

May 31, 2014
According to Reserve Bank of India (RBI), Non-Banking Financial Companies (NBFCs) to
take its prior approval before buying shares of other NBFCs or for merger and acquisition
with another entity.
This rule will be applicable to both deposit taking and non-deposit accepting companies and
any infringement of it may cost the company its registration.
Prior written clearance of RBI would also be mandatory before approaching the Court or
Tribunal seeking order for mergers or amalgamations with other companies or NBFCs.

Dalia Grybauskaite to become President of Lithuania for

second consecutive term
May 31, 2014

Lithuanias incumbent President Dalia Grybauskaite (58) has been

declared the winner in the countrys run-off Presidential elections. She got 58% votes
whereas her Social Democrat rival Zigmantas Balcytis only 42% votes. The election was
held amid rising concerns in the region after Russias annexation of Crimea from Ukraine.

Google agrees to provide Right to be Forgotten

May 31, 2014
Google has launched a service to allow Europeans to ask for personal data to be
removed from online search results.
It will now be possible for Europeans to request Google for the removal of their personal data
from online search results. The move comes after a landmark European Union court
judgment in May 2014, which gave people the Right to be Forgotten.
What is the Right to be Forgotten?
Links to irrelevant and outdated data should be erased on request. It would assess each
request and balance privacy rights of the individual with the publics right to know and
distribute information.
It is a latest term which came out of a ruling of a European Court which was adjudicating
over a case in which a Spaniard named Mario Costeja Gonzalez had argued that some of his
old personal information put up on the internet 16 years back continue to appear in search
results even today which, according to him, damages his reputation. Around 16 years ago
when he was facing financial difficulties he had put up a property of his for auction the
details of which were covered in a newspaper, which subsequently went online. The auction
happened in 1998, and with those troubles now behind him, Mr Gonzalez now wants to move
on. But the old details on internet still hound him. Whenever you search for his name, news
about the auction still features prominently. He argued that it should be removed from
Googles search results. The Luxembourg-based Court of Justice of the European Union
agreed with him, and in doing so set a major precedent over what is referred to as the Right
to be Forgotten.
What next?
Following this ruling Google has made available Right to be Forgotten Form which a
person in EU can fill to request the search engine to prevent his/her unwanted personal
information from appearing in the search results.The EU has been crusading for a new law on
data privacy of which right to be forgotten is a key component since it proposed
guidelines in January 2012. It argues that old, inaccurate or even just irrelevant data should be
taken out of search results if the person involved requests it.
Does Right to be Forgotten allows a person to request any of his information to be
removed from the Internet?
No. Decisions on whether information should be removed from search engines depend on
the nature of the information in question and its sensitivity for the data subjects private life
and on the interest of the public in having that information, an interest which may vary, in
particular, according to the role played by the data subject in public life. It means the
information would only be removed if the impact on the individuals privacy is greater than
the publics right to find it.

As per guidelines, removal of information in the current context doesnt mean deletion of
information. They just wouldnt appear in search results.

Vitamin E Beneficial or Harmful depends on its source

May 31, 2014
According to new research, certain forms of Vitamin A can be harmful for the lungs while
certain other can be helpful in normal functioning of lungs. The research has found that a
form of Vitamin E found in vegetable oils like Corn and Canola can harm lungs, while
another form of the same vitamin found in Olive Oil can aid normal functioning of lungs. The
scientists claimed that this could be one of the reasons why studies of the health effects of the
vitamin have had given conflicting results so far.
Vitamin E exists in various forms called tocopherols and it is found in fats and oils.
Supplements of the vitamin may contain a single type of tocopherol, or a mix. The study
found that a form of the vitamin called gamma tocophero, which is found in corn, canola
and soybean oils, are harmful for lungs.
The research suggests that consumers who use the vitamin and doctors who prescribe must
be careful towards the source and formulation of the vitamin. It is sometimes mentioned on
the labels of supplements, but not always.

Peter Mutharika takes oath as President of Malawi

May 31, 2014
After being victorious in the recently held presidential polls in Malawi, Peter Mutharika
(74) was sworn in as the new President of the southern African country. He will replace
outgoing President Joyce Banda.
Malawi (The Warm Heart of Africa)

Malawi is a landlocked country in southeast Africa that

was formerly known as Nyasaland. It shares its boundaries with Zambia to the northwest,
Tanzania to the northeast, and Mozambique on the east, south and west. Malawi is known as
The Warm Heart of Africa.

Capital: Lilongwe
President: Joyce Banda
Currency: Malawian kwacha
Official language: English Language
Malawi is amongst the worlds least-developed countries. Malawis economy is highly
dependent on agriculture, and majority of the population is rural. The government depends
heavily on foreign aid to meet its development needs.

Army Chief endorsed as the new leader by Thai king

May 31, 2014
Thailands King Bhumibol Adulyadej (86) has backed the army chief General Prayuth
Chan-ocha, who captured power in a coup, to run Thailand.
Why is Thailand under military rule?
The political situation in Thailand has been restive for past few months. At present, the
country is under junta rule (army rule) after army seized power in a recent coup. According to
its Army, the military has taken control of the government and suspended the constitution in
order to reinstate order and enact political reforms.
There has been agitation in the country with the opposition accusing the current
democratically elected government of corruption and demanding its dissolution. The coup
comes after months of surging tensions. The cabinet has been directed to report to the
military and gatherings of more than five people have been prohibited.
Have there been coups before in Thialand?
Yes, this is the 12th military coup since the end of absolute monarchy in 1932. The last coup
was witnessed in 2006, when then PM Thaksin Shinawatra was ousted by the army after he
was accused of corruption. Many accuse the army of being kind to the cause of his opponents
in the current anti-government drive.
What are the roots of the Thailand crisis?
The politics in Thailand is polarized with mostly rural, often poor, supporting Mr Thaksin,
whereas, the urban middle class is against him.
Ever since Mr Thaksins regime was toppled in 2006, there have been regular protests. But in
the past few years the focus has been on the current Thaksin-aligned Pheu Thai government.
The protests began to aggravate into violence in November 2013, after the lower house
passed a controversial amnesty bill which, as per critics, could make possible Mr Thaksins
return from exile without serving time in jail.
As per the anti-government camp, at least 28 people have died since then.

The situation exacerbated further in May 2014, after a controversial court judgment removed
Mr Thaksins sister Yingluck from her position as Prime Minister, saying she had abused her
power by illegally transferring the National Security Chief to another position.