15-16 jan 2015

15 jan

Bhakti set world record by swimming 1.4 miles in 52 minutes in the Antarctic Ocean

Indian open water swimmer Bhakti Sharma on 14 January 2015 set a world record by swimming 1.4 miles in 52 minutes in one degree temperature in the Antarctic Ocean. She is the first Indian women as well as to achieve this feat.

She broke the record of British open water swimming champion Lewis Pugh and American swimmer Lynne Cox.

The 24-year old is now the first Asian girl and youngest in the world to have achieved this feat and now has conquered all the five oceans of the world.

Bhakti’s quest was sponsored by Hindustan Zinc.

About Bhakti Sharma
• She is pursuing open water swimming for last 10 years
• She has conquered all the five oceans of the world, eight channels and seas, which itself is a world record
• In 2010, she was awarded the Tenzing Norgay National Adventure Award

Prabhu Nath Dwivedi named as the winner of the Sahitya Akademi Award 2014 for Sanskrit

Eminent Sanskrit scholar Prabhu Nath Dwivedi was on 14 January 2015 named as the winner of the Sahitya Akademi Award 2014 for Sanskrit language.

He was awarded for his work Kanakalochanaha, a collection of 16 short-stories based on various social issues. His name was selected by a three-member jury of the Sahitya Akademi.

The award will be presented to him in March 2015 during the Festival of Letters that will be organised by the Sahitya Akademi in New Delhi.

Backround
In December 2014, Sahitya Akademi announced names of 22 poets and authors that will be honoured with prestigious Sahitya Akademi Award 2014.

But it had not announced the winners of Sahitya Akademi Award 2014 for Manipuri and Sanskrit language.

About Sahitya Akademi Award
Sahitya Akademi Award is conferred every year on writers who have shown outstanding works in one of the twenty-four major Indian languages.

These twenty-four major Indian languages are Assamese, Bengali, Bodo, Dogri, English, Gujarati, Hindi, Kannada, Kashmiri, Konkani, Maithili, Malayalam, Manipuri, Marathi, Nepali, Oriya, Punjabi, Rajasthan, Sanskrit, Santhali, Sindhi, Tamil, Telugu, and Urdu.

The award prize consists of engraved copper plaque, a shawl and a cheque of 1 Lakh rupees.

Scientists discovered hybrid insecticide-resistant mosquito in Mali

A team of researchers led by Gregory Lanzaro of University of California-Davis have discovered a super mosquito hybrid in the West African country of Mali that is resistant to insecticide-treated bed nets.

The findings of the discovery were published in the journal Proceedings of the National Academy of Sciences (PNAS) on 6 January 2015.

Findings
• The study revealed the evolution of a new mosquito species that is resistant to the insecticides.
• The new hybrid species is also the result of a kind of gene-swapping known as adaptive introgression that occurred with the increased usage of insecticide-treated bed nets.
• The findings are strong evidence that man-made changes such as an introduction and use of nets can alter evolution of species.
• There is an urgent need to develop new and effective malaria vector control strategies.

Study Process
Anopheles gambiae, one of the mosquito species most heavily responsible for the spread of malaria in West Africa, has been mating with the other species Anophele coluzzii for a long time.

It is the result of this mating between two existing species that a new Super mosquito evolved and has proven itself to be resistant to bed nets treated with malarial insecticide.

The growing resistance was observed by the researchers for some time. But, recently it reached a level where it is resulting in the failure of the nets to provide meaningful control.

RBI cut Repo Rate by 0.25% in sixth Bi-Monthly Monetary Policy Statement 2014-15

The Reserve Bank of India (RBI) on 15 January 2015 announced sixth Bi-Monthly Monetary Policy Statement. RBI in its bi-monthly monetary policy statement cut its main lending rate (Repo Rate) by 0.25 per cent with immediate effect. This is the first rate cut from the RBI since 2013.

With this, repo rate will now prevail at 7.75 percent from previous 8 percent. The RBI rate cut comes just two weeks before its scheduled policy review on 3 February 2015.

Based on the assessment of the current and evolving macroeconomic situation, the following changes has been taken
• Repo Rate: Reduced Repo rate under Liquidity Adjustment Facility (LAF) by 25 basis points from 8.0 percent to 7.75 percent with immediate effect
• Reverse Repo Rate under the LAF: Stands adjusted to 6.75 percent
• Cash Reserve Ratio (CRR): Kept unchanged at 4.0 percent of net demand and time liabilities (NDTL)
• Marginal standing facility (MSF) rate: 8.75 percent
• Bank Rate: 8.75 percent

Why the rate cut was necessitated?
• Inflationary pressures (measured by changes in the consumer price index) have been easing, since July 2014
• The path of inflation, while below the expected trajectory, has been consistent
• Inflation has been lower than expected due to sharp decline in prices of vegetables and fruits since September 2014 and receded pressures in respect of cereals and the large fall in international commodity prices, particularly crude oil
• It seems that the crude prices is expected to remain low over the year due to geo-political shocks

About Policy Rates
• Basis Points: It is the increase in interest rates in percentage terms. For instance, if the interest rate increases by 50 basis points (bsp), then it means that interest rate has been increase by 50%.
• Repo Rate: It is the rate at which commercial banks borrow from the RBI by selling their securities or financial assets to the RBI for a short-period of time. The repo rate is used by the central bank to increase liquidity in the system.
• Reverse Repo Rate: It is the rate of interest at which the central bank borrows funds from other banks for a short duration. The banks deposit their short term excess funds with the central bank and earn interest on it. This rate is used by the central bank to absorb liquidity from the economy. Generally it is one percentage less than the Repo rate.
• Bank Rate: The only way the bank rate is different from the repo rate is that the bank rate is the rate at which banks borrow money from the central bank without any sale of securities. It is generally for a longer period of time.
• Cash Reserve Ratio: CRR is the minimum percentage of cash deposits that banks must keep with the central bank. The current rate is 4%, which means for a cash deposit of 100 rupees, the bank has to park 4 rupee with the central bank.
• Marginal Standing Facility: The Reserve Bank of India in its monetary policy for 2011-12 introduced the marginal standing facility under which banks could borrow funds from RBI when there is a considerable shortfall of liquidity. This measure has been introduced by RBI to regulate short-term asset liability mismatches more effectively. Under this facility, banks can borrow up to 1% of their net demand.
• Liquidity Adjustment Facility: Under this facility, banks borrow from the central bank by pledging government securities. Repo rate and Reverse repo rate are part of it.

• Statutory Liquidity Ratio: This is the percentage of deposits that banks must mandatorily hold in the form of government bonds. SLR bonds are liquid assets that can be sold at a short notice to meet any unexpected demand from depositors.

Critically endangered Forest Owlet sighted in Betul, Madhya Pradesh

Critically endangered forest owlet (Athene blewitti) was sighted in Betul district of Madhya Pradesh. The bird was traced in a new location by a Pune-based conservation society in second week of January 2015.

Forest Owlet (Athene blewitti or Heteroglaux blewitti) is an owl and is endemic to the forests of central India. The species that belongs to the typical owls’ family, Strigidae is on the verge of extinction.

How this critically endangered species was spotted?
A team of a Pune-based Wildlife Research and Conservation Society (WRCS) sighted the owlet during their course of extensive research in Khandwa in the adjoining district of Betul. At present, the society is carrying out a long-term ecological study on the Forest Owlet in the Khandwa district of Madhya Pradesh.

Past Evidences of Forest Owlet in India
The species was first discovered in 1872 (Chhattisgarh), however it was not seen for 113 years and was believed that it has become extinct.

It was rediscovered in 1997 in Toranmal Reserve Forest in the Satpura ranges and was once again sighted in 2004 in Toranmal of Nandurbar district of Maharashtra.

NFL, EIL and FCIL signed agreement to form Ramagundam Fertilizers and Chemicals Ltd

National fertilizers Limited (NFL), Engineers India Limited (EIL) and Fertilizer Corporation of India (FCIL) on 14 January 2015 signed an agreement to form a Joint Venture Company (JVC) Ramagundam Fertilizers and Chemicals Limited.

The agreement is aimed at setting up new Ammonia and Urea plants at the existing site of Ramagundam Fertilizer plant in District Karimnagar in Telangana.

Execution of construction activities is expected to start in early 2016. The new plant at Ramagundam will be a boon for the farmers of newly created state of Telangana.

Highlights of the joint venture agreement
• The Joint Venture will be primarily responsible for setting up Gas based Ammonia-Urea plants. NFL and EIL will each have 26 percent equity in the venture company.
• EIL will take up the project construction under EPC model. NFL’s expertise will be utilised for the operation and maintenance of the plant
• FCIL will hold a stake in the company, being the provider of existing infrastructure of Ramagundam Project.
• The project comprises of 2200 MTPD Ammonia plant and 3850 MTPD Urea plant.
• Total investment in the project by the PSU promoters is estimated to be in the range of 5000 crore rupees.

Background
Fertilizer Corporation of India (FCIL), Ramagundam was the first major industry in Karimnagar district. This project work started in 1971 and commercially began in 1980. However, after a few years, the project was completely closed and production was stopped from 31 March 1999.

Consequently, thousands of employees were forced to take Voluntary Retirement Scheme (VRS). The unit was practically abandoned.

The FCI plant is built in 1500 acres and the township is of 2600 acres. The township had turned into a ghost town following the closure of the plant.

RBI relaxed Forex Hedging Norms for Exporters and Importers

The Reserve Bank of India (RBI) on 14 January 2015 relaxed the Forex Hedging Norms for exporters and importers.

The norms were relaxed under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999.

Relaxed Forex Hedging Norms
• Now, the exporters and importers can book forward foreign exchange contracts in excess of 50 percent of the eligible limit. This will give them greater operational flexibility.
• However, approval of these contracts is subjected to some conditions including the submission of a declaration that all guidelines have been adhered to while utilising the facility.
• The declaration has to be signed by the Chief Financial Officer (CFO) and the Company Secretary (CS).
• In the absence of a company secretary (CS), the Chief Executive Officer or the Chief Operating Officer shall co-sign the undertaking of the customer along with the Chief Financial Officer.
• Moreover, a certificate of import or export turnover of the customer during the past three years has to be attached.
• All other operational guidelines, terms and conditions shall remain unchanged.

Union Government identified five areas for Varanasi-Kyoto partnership

Union Government in the second week of January 2015 identified five areas for rejuvenating the holy city under the Kyoto-Varanasi partnership deal signed between India and Japan in August 2014.

Japan will extend its expertise to help in rejuvenating Varanasi under the Kyoto-Varanasi partnership deal.

The identified areas include
• Solid-liquid waste management
• Transport management
• Developing the Buddhist tourist circuit in and around Varanasi
• Industry-university interface
• Setting up of a convention centre on public-private partnership basis for giving a fillip to the cultural activities in the city

Earlier in 2014, Union government had sanctioned a sum of 80 crore rupees for Varanasi under the Heritage City Development and Augmentation Yojana (Hriday).

Background
The Varanasi-Kyoto partnership deal is a part of Sister City Cooperation that was signed between India and Japan during Prime Minister Narendra Modi’s five-day visit to Japan in August 2014. Prime Minister Narendra Modi is a Member of Parliament from Lok Sabha seat of Varanasi.

Varanasi and Kyoto are one of the oldest continuously inhabited cities of the world.

Varanasi on the one hand is called the cultural capital of India and is the oldest living city in the world. On the other hand, Kyoto is a place of ancient temples and shrines and practically called the cultural centre of Japan. It has been the Capital of Japan till the end of Nara Period (794 AD) after which the emperor moved to Tokyo

World Bank Group released Global Economic Prospects (GEP) Report, January 2015

World Bank Group on 13 January 2015 released its bi-annual Global Economic Prospects (GEP) Report, January 2015.

According to the report, global growth in 2014 has been disappointing as in previous three years; however, developing countries should see an uptick in growth in 2015.

The growth in developing countries will get a boost in part by soft oil prices, a stronger U.S. economy, continued low global interest rates, and receding domestic headwinds in several large emerging markets.

The Report has projected that India will be a major beneficiary of lower oil prices and growth is set to accelerate to 6.4 percent in 2015 and 7 percent by 2016.

Highlights of GEP Report, January 2015

Global economy grew by an estimated 2.6 percent in 2014 and is projected to expand by 3 percent in 2015, 3.3 percent in 2016 and 3.2 percent in 2017.
High income countries are likely to see growth of 2.2 percent in 2015-17, up from 1.8 percent in 2014, on the back of gradually recovering labour markets, ebbing fiscal consolidation, and still low financing costs.
Developing countries grew by 4.4 percent in 2014 and are expected to expand up to 4.8 percent in 2015, strengthening to 5.3 and 5.4 percent in 2016 and 2017 respectively.
Compared with the June 2014 Global Economic Prospects, global growth was revised down by 0.2 percentage point in 2014 to 2.6 percent, 0.4 percentage point to 3 percent in 2015
The recovery gained traction in the United States and the United Kingdom but is struggling in the Euro Area and Japan, while a carefully managed slowdown is underway in China. But the recovery has been sputtering in the Euro Area and Japan as legacies of the financial crisis linger.
Growth in the United States is expected to accelerate to 3.2 percent in 2015 from 2.4 percent in 2014, before moderating to 3 and 2.4 percent in 2016 and 2017, respectively.
China’s growth is expected to slow down to a still-robust 7.1 percent in 2015, 7 percent in 2016 and 6.9 percent in 2017.

Risks to Global Outlook in 2015-16

Risks to this slow-moving global recovery are significant and tilted to the downside. Four factors pose significant risk to the global economic growth in 2014-15. These are
Persistently weak global trade.
Possibility of financial market volatility as interest rates in major economies rise on varying timelines.
Extent to which low oil prices strain balance sheets in oil-producing countries.
Prolonged period of stagnation or deflation in the Euro Area or Japan.

India and GEP Report, January 2015

Amongst large middle-income countries that will benefit from lower oil prices is India, where growth is expected to accelerate to 6.4 percent in 2015 from 5.6 percent in 2014, rising to 7 percent in 2016-17. Indian economy had slowed to sub-five per cent growth in the previous two financial years of 2014 and 2013.

After the initiatives like Make in India campaign the economy had started showing signs of revival as it expanded by 5.7 per cent and 5.3 per cent in the second and third quarter of 2014-15.

Regional Highlights of GEP Report, January 2015

East Asia and Pacific region

The East Asia and Pacific region continued its gradual adjustment to slower but more balanced growth. Regional growth slipped to 6.9 percent in 2014 as a result of policy tightening and political tensions that offset a rise in exports in line with the ongoing recovery in some high-income economies.

The report predicted the growth to 6.7 percent in 2015 and a stable outlook thereafter, reflecting a gradual slowdown in China, which will be offset by a pick-up in the rest of the region in 2016-17.

In the rest of the region, excluding China, growth will strengthen to 5.5 percent by 2017 (from 4.6 percent in 2014) supported by firming exports, improved political stability, and strengthening investment.

Europe and Central Asia

The report predicted regional growth rebound to 3 percent in 2015, 3.6 percent in 2016 and 4 percent in 2017 but with considerable divergence.

Recession in Russia holds back growth in Commonwealth of Independent States whereas a gradual recovery in the Euro Area should lift growth in Central and Eastern Europe and Turkey. In contrast, growth in Turkey exceeded expectations despite slowing to 3.1 percent.

Latin America and Caribbean

South America slowed sharply as domestic factors, exacerbated by economic slowdown in major trading partners and declining global commodity prices, took their toll on some of the largest economies in the region.

In contrast, growth in North and Central America was robust, lifted by strengthening activity in the United States.

Strengthening exports on the back of the continued recovery among high-income countries and robust capital flows should lift regional GDP growth to an average of around 2.6 percent in 2015-17.

Middle East and North Africa

Regional growth is expected to pick up gradually to 3.5 percent in 2017 from 1.2 percent in 2014.

Following years of turmoil, some economies in the Middle East and North Africa appear to be stabilizing, although growth remains fragile and uneven.

Growth in oil-importing countries was broadly flat in 2014, while activity in oil-exporting countries recovered slightly after contracting in 2013. Fiscal and external imbalances remain significant.

Sub-Saharan Africa

Growth is expected to remain flat in 2015 at 4.6 percent (lower than previously expected), largely due to softer commodity prices, and rise gradually to 5.1 percent by 2017, supported by infrastructure investment, increased agriculture production, and buoyant services.

In Sub-Saharan Africa, growth picked up only moderately in 2014 to 4.5 percent, reflecting a slowdown in several of the region’s large economies, notably South Africa.

South Asia

In South Asia, growth rose to an estimated 5.5 percent in 2014 from a 10-year low of 4.9 percent in 2013. The upturn was driven by India, the region’s largest economy, which emerged from two years of modest growth.

Regional growth is projected to rise to 6.8 percent by 2017, as reforms ease supply constraints in India, political tensions subside in Pakistan, remittances remain robust in Bangladesh and Nepal, and demand for the region’s exports firms.

Appointment Committee of Cabinet approved Anupam Shrivastava as CMD of BSNL

Appointments Committee of the Cabinet (ACC) on 14 January 2015 approved appointment of Anupam Shrivastava as CMD (Chairman and Managing Director) of Bharat Sanchar Nigam Limited (BSNL). Currently, he is serving as Director - Consumer Mobility at the BSNL.

BSNL's Director Enterprises A N Rai is currently handling the additional charge of CMD.

His appointment was pending from long. The Public Enterprise Selection Board (PESB) had shortlisted Anupam Shrivastava for the post of CMD of BSNL in 2013.

His tenure as CMD was to begin from 1 May 2013 but the then Union Telecommunication Minister Kapil Sibal held back the recommendation and granted extension to R K Upadhyay till 30 June 2013.

Further, change in the government at the Centre delayed the decision to appoint the head of BSNL.

Anupam Srivastava joined BSNL Corporate Office as Director (CM) on 1 May 2013 and is responsible for the growth of mobile business of GSM / CDMA / WIMAX in BSNL, including all activities related to Sales & Marketing, VAS, Tariff finalization & revenue.

As Zonal Director for North Zone he is responsible for monitoring growth and maintenance of Telecom Network in 8 Circles.

DGFT imposed 100 crore rupees fine on Riddhi Siddhi Bullion for violation of RBI norms

The Directorate General of Foreign Trade (DGFT) on 14 January 2015 imposed a penalty of 100 crore rupees on Riddhi Siddhi Bullion Limited (RSBL) for violation of Reserve Bank of India (RBI) norms. The order was issued by Kavita Gupta, additional director general of foreign trade, Mumbai.

The order also cancelled its nominated agency certificate (NAC). NAC is the mandatory document needed for direct import of precious metals.

Why the fine was imposed

The DGFT had issued a showcause notice to the bullion trader in October 2014. According to the order, RSBL had obtained NAC in April 2013 for direct import of bullion. In FY14, RSBL had imported 550 kg gold and, according to the RBI circular, this entire quantity should have been exported back.

However, the company had shipped back only 350 kg while remaining 200 kg was supplied to the domestic market, violating NAC norms.

About Riddi Siddhi Bullion Limited (RSBL)

Riddi Siddhi Bullion Limited (RSBL) was established by Prithviraj Kothari and started its operations in the financial year 1997-1998.

RSBL is also the only company to be an authorised participant of all gold traded exchange funds (ETFs) in India. That is it acts as an online bullion trading platform for jewellers, wholesalers, jewellery manufacturers, hedgers and investors, which is crucial for jewellers in India.

Gold Exchange Traded Funds

A gold exchange-traded fund (or GETF) is an exchange-traded fund (ETF) that aims to track the price of gold. These units are traded on the Exchange like a single stock of any company.

67th Army Day observed on 15 January

Army Day: 15 January

India on 15 January 2015 observed the 67th Army Day. The day is celebrated to commemorate the day, when Lieutenant General (later Field Marshal) K M Cariappa on 15 January 1949 became the first Indian Commander-in-Chief of the Indian Army post Independence. He had succeeded General Sir Francis Butcher, the last British Commander-in-Chief of India.

To mark the day, all three service chiefs, Army Chief General Dalbir Singh Suhag, Chief of Naval Staff Admiral Robin K Dhowan and Air Chief Marshal Arup Raha paid tributes at the Amar Jawan Jyoti here at India Gate by laying floral wreath and remembering the martyred soldiers. Thereafter they also signed the record book at the India Gate.

Various parades and military shows were organized in national capital New Delhi and all army headquarters to mark the day.

Amitabh Bachchan presented with Social Media Person of the Year award 2015

Actor Amitabh Bachchan was on 13 January 2015 presented with the Social Media Person of the Year Award 2015 by the Internet and Mobile Association of India (IAMAI).

The award ceremony was scheduled to be held on 15 January 2015 in New Delhi but as Amitabh Bachchan was not be able to make his presence there, so he was honoured in advance.

Amitabh Bachchan was awarded for being an active blogger and user of different social networking sites. He makes the most use of social media to communicate with his fans and well-wishers.

He has over 12.5 million followers on Twitter and more than 18857196 likes on his Facebook page.

Actor Amitabh Bachchan was on 13 January 2015 presented with the Social Media Person of the Year Award 2015 by the Internet and Mobile Association of India (IAMAI).

Brett Lee announced his retirement from all forms of cricket

Australian cricketer Brett Lee on 14 January 2015 announced his retirement from all forms of cricket after a 20-year career. Lee is currently playing in the Australia Big Bash League for Sydney Sixers team.

Lee will retire from cricket at the end of Big Bash League 2015. Earlier, Lee retired from international cricket in 2012, but he continued to play Twenty20 in both the Australian Big Bash League and the Indian Premier League.

Brett Lee
• Lee has played in 117 Twenty20s in which he has taken 105 wickets at 30.27 since making his debut in 2005.
• Lee played 76 Tests for Australia, where he took 310 wickets and he also played 221 one-dayers with 380 dismissals.
• His fastest delivery cracked the 161 kilometres per hour mark (100 miles per hour), with consistently bowling at 150kph over 20 years.
• He was a part of the Kolkata Knight Riders team that won the Indian Premier League (IPL) in 2012.
• In his 20-year career, Lee got several awards including 2009 Champions League Twenty20 Player of the Series, 2008 Australian Test Player of the Year, 2006 Wisden Cricketer of the Year and 2000 Bradman Young Cricketer of the Year.

ICC Cricket World Cup

The ICC Cricket World Cup is the international championship of One Day International (ODI) cricket. It is organised by the International Cricket Council (ICC). The world cup is held once in every four years.

So far ten ICC Cricket World Cup have taken place. The eleventh Cricket World Cup will be jointly hosted by Australia and New Zealand in February and March 2015.

14 teams will be participating in World Cup 2015. These are England, Australia, Sri Lanka, Bangladesh, Afghanistan, Scotland, South Africa, India, Pakistan, West Indies, Zimbabwe, Ireland and UAE.

The first match will be played in Christchurch, New Zealand and Melbourne, Australia on 14 February 2015, while the final match will be played at the Melbourne Cricket Ground on 29 March 2015.

List of Cricket World Cup

Year	Winner	Runner-Up	Host
1975	West Indies	Australia	England
1979	West Indies	England	England
1983	India	West Indies	England &Wales
1987	Australia	England	India & Pakistan
1992	Pakistan	England	Australia and New Zealand
1996	Sri Lanka	Australia	Pakistan, India & Sri Lanka
1999	Australia	Pakistan	England, Wales, Scotland, Ireland & Netherlands
2003	Australia	India	South Africa, Zimbabwe & Kenya
2007	Australia	Sri Lanka	West Indies
2011	India	Sri Lanka	India, Sri Lanka & Bangladesh

A P Singh resigned as member of Union Public Service Commission

A P Singh on 14 January 2015 resigned as member of the Union Public Service Commission (UPSC). He sent his resignation to the President. His resignation is yet to be accepted by the President Pranab Mukherjee.

He is a former Director of the Central Bureau of Investigation (CBI) who was appointed as a UPSC Member in 2013.

According to the article 316 (2) of the Constitution, Chairman or a member of a Union Public Service Commission shall hold office for a term of six years or 65 years from the date on which he enters upon his office whichever is earlier.

Article 316(2) (angel) provides that a member of the UPSC can resign from his office by writing under his hand addressed to the President

16 jan

Hari Shankar Brahma appointed as the New Chief Election Commissioner

Hari Shankar Bramha was appointed as the new Chief Election Commissioner (CEC) by President Pranab Mukherjee on 15 January 2016.

Brahma, the senior-most Election Commissioner in the Election Commission of India succeeds V.S. Sampath.

Sampath demitted the office on 15 January 2015 after attaining the age of 65, the upper age limit under the Constitution for holding the post.

Brahma (64) will assume the charge of the office of Chief Election Commissioner with effect from 16 January 2015. He will have a small tenure of three months till 19 April 2015, when he turns 65, the upper age limit for the post.

About Harishankar Brahma
• He is a 1975 IAS officer of Andhra Pradesh cadre
• He hails from Assam and has served as the former Union power secretary
• He was appointed as an Election Commissioner on 25 August 2010

After J.M. Lyngdoh, Brahma is the second officer from northeast to be appointed to this post.

About Election Commission
Election Commission of India is a permanent Constitutional Body. It was established in accordance with the Constitution on 25 January 1950.

Originally the commission had only a Chief Election Commissioner, but now it is a three-member body, including the CEC and two election commissioners.

For the first time two additional Commissioners were appointed on 16 October 1989 but they had a very short tenure till 1 January 1990. Later, on 1 October 1993 two additional Election Commissioners were appointed. The concept of multi-member Commission has been in operation since then, with decision making power by majority vote.

Sandip Das resigned as MD of Reliance Jio Infocomm Ltd to join Reliance Retail Ltd

Sandip Das on 13 January 2015 resigned as the Managing Director (MD) of Reliance Jio Infocomm Ltd to join the board of Reliance Retail Ltd. However, Reliance Jio’s other Managing Director Sanjay Mashruwala will continue to head the firm.

Reliance Retail Ltd is developing a long-term evolution (LTE) device ecosystem for Reliance Jio’s growth in the telecom space by building sales and distribution channels including retail stores. Das will mentor the Jio division of Reliance Retail.

Sandip Das' appointment came at the time when Reliance Jio is preparing to launch 4G telecom services in 2015. The company has not been able to launch its 4G services despite winning the spectrum in 2010.

Sandip Das
• Das was Chief Executive Officer of Maxis Communications Ltd for six years prior to joining Reliance Jio in 2013.
• He has also worked as Deputy Managing Director of Hutchinson Essar that was later acquired by Vodafone India Ltd.
• He had also served for 2 years on the Board of the Global GSM Development Fund and was the Chairman of the Confederation of Indian Industries (CII) Service Industry Panel.

Wholesale price Index-based Inflation raised 0.11 percent in December 2014

The wholesale price index (WPI)-based inflation raised marginally to 0.11 percent in December 2014 from zero percent in November 2014. Union Ministry of Commerce and Industry released the data on 14 January 2015.

The marginal rise in WPI based inflation was mainly on account of an increase in prices of food items, particularly fruit. The inflation in manufactured products has the highest weight on WPI was declined on low demand and global cues. Fuel prices also declined as global crude oil rates fell.

However, overall inflation remained moderate though it is slightly higher than November 2014.

Highlights

• The WPI based inflation in pulses, vegetables and fruits were higher in December 2014 as compare to November 2014 whereas the inflation eased in wheat, milk and other protein rich items like egg, meat and fish.
• The rate food inflation raised to 5.22 percent in December 2014 from 0.63 percent of November 2014. The food inflation has fallen for four consecutive months till November 2014.
• Inflation in fruit prices stood at 17.87 percent, compared with 14.78 percent in November 2014, while the rate of inflation in milk dropped marginally to 9.72 percent in December 2014 from 10 percent of November 2014.
• The prices of non-food items within the primary group declined by 3.06 percent as compared to declined of 3.65 percent in November 2014.
• The rate of price rise or prices themselves declined for other food items during December 2014. For instance, overall vegetable prices fell 4.78 percent in December 2014 though the rate of contraction in November 2014 was much higher at 28.57 percent.
• The fuel and power category saw a contraction of 7.82 percent in prices as compared to 4.91 percent in November 2014. Within this segment, petrol turned 11.96 percent cheaper, against 9.96 percent of November 2014.
• Diesel was 6.31 percent less expensive in December 2014 when compared with 2.97 percent in November 2014, which may further reduce inflation due to its impact on cost of transportation.
• Inflation in manufactured items declined to 1.57 percent as against 2.04 percent in November 2014.
• The inflation in beverages and tobacco also declined in December 2014 and same in the case of machinery and machine tools.
• The inflation eased in cotton textile and man-made textiles segments.
• The retail inflation measured on consumer price index (CPI) had inched up to 5 percent for December 2014 while the inflation was 4.38 percent in November 2014.

Indian cricket team’s new ODI kit launched

Indian cricket team’s new kit for One Day International (ODI) was launched on 15 January 2015. The ODI kit was unveiled at the Melbourne Cricket Ground in Australia by the members of the Indian team led by Captain Mahendra Singh Dhoni and Team India kit sponsor Nike.

The kit was launched before the tri-nation series against Australia and England, which will be followed up by the World Cup 2015. The tri-series will be played between 16 January and 1 February 2015.

Features of the new Kit
• It is made out of 100 percent recycled polyester, giving the fabric enhanced stretch ability and moisture releasing qualities.
• The front part – the strands that are drawn in the front are out of our national flag (the 24 lines in the Ashok Chakra) and it gives a bit of a feel to it
• New kit is environmental friendly
Cricket World Cup 2015 campaign will be held between 14 February and 29 March 2015 and is being co-hosted by Australia and New Zealand.

Tarun Rai appointed as CEO of J Walter Thompson South Asia

Tarun Rai was appointed as Chief Executive Officer (CEO) of J Walter Thompson South Asia. The appointment was announced on 14 January 2015 by the J WalterThompson (JWT) company. JWT is an advertising agency.

He replaced Colvyn Harris who has been elevated to the role of Executive Director, Global growth and Client development. Both will report to Gustavo Martinez, Global CEO of JWT.

Rai in his role of CEO of South Asia will look after India, Sri Lanka and Nepal region as well as Indian companies of J Walter Thompson which includes Contract Advertising, Hungama Digital Services, J. Walter Thompson Mindset, Encompass and Social Wavelength.

Prior to this appointment, Rai served as CEO of Worldwide Media since 2008. Before 2008, he was associated with JWT wherein he helped build brands like Hindustan Unilever, GlaxoSmithKline, Diageo, Pizza Hut, De Beers, Tata Steel, Nestlé, Hero, Godrej and Kellogg’s.

Rai is an alumnus of London School of Economics and has been associated with advertising and media for more than 25 years.

Leela Samson resigned as Chairperson of Central Board of Film Certification

Leela Samson on 16 January 2015 resigned as Chairperson of Central Board of Film Certification, (CBFC).

She was appointed as the Chairperson of CBFC on 1 April 2011.

About Leela Samson
• She is a Bharatanatyam dancer, choreographer, instructor and writer
• She taught Bharatanatyam at Shriram Bhartiya Kala Kendra in Delhi for many years
• From August 2010 to October 2014 she was the chairperson of Sangeet Natak Academy
• From April 2005 to April 2012, she served as a director of Kalakshetra
• Awards conferred in Samson includes Padma Shri which was given in recognition of her contribution to the art of Bharatanatyam

Central Board of Film Certification
Central Board of Film Certification (CBFC) is a statutory body under Union Ministry of Information and Broadcasting. It regulates the public exhibition of films under the provisions of the Cinematograph Act 1952.

Any film can be exhibited in India only after being certified by the Central Board of Film Certification. At present CBFC certifies films under 4 categories, namely
• U: Unrestricted Public Exhibition
• UA: Unrestricted Public Exhibition - but with a word of caution that Parental discretion required for children below 12 years
• A: Restricted to adults
• S: Restricted to any special class of persons

Indian-Americans Jonodev Osceola Chaudhuri and Deven J Parekh nominated to key posts in US

US President Barack Obama on 14 January 2015 nominated two Indian-Americans Jonodev Osceola Chaudhuri and Deven J Parekh to key posts in US.

Jonodev Osceola Chaudhuri was nominated as Chairman of the National Indian Gaming Commission (NIGC) whereas Deven J Parekh was nominated as the Member of the Board of Directors of Overseas Private Investment Corporation (OPIC).

At present, Jonodev Osceola Chaudhuri is serving as acting Chairman of NIGC which is responsible for regulating and ensuring the integrity of more than 420 Indian gaming facilities. In 2012, he was named senior counsellor to the Assistant Secretary for Indian affairs in the Department of the Interior.

Deven J Parekh, on the other hand, is currently the Managing Director (MD) at Insight Venture Partner. Since 2011, he has been also serving as a Member of the Technological Advisory Council of the Federal Communications Commission.

Chief Election Commissioner Veeravalli Sundaram Sampath demitted his office

Veeravalli Sundaram Sampath demitted his office as Chief Election Commissioner on 15 January 2015. He demitted the office after he turned 65, the upper age limit to hold the post as per the Constitution of India.

He will be succeeded by Hari Shankar Brahma.

Sampath during his 6-year tenure in the Election Commission conducted two Lok Sabha elections and at least one round of Assembly polls in all the states. Sampath also presided over the conduct of Presidential and Vice-Presidential elections in 2012.

About Veeravalli Sundaram Kamath
• He stepped in as a Commissioner in Election Commission in March 2009
• Sampath an IAS officer of a 1975 batch Andhra Pradesh cadre started his career as a district collector
• He served the Union Government as Secretary, Rural Development and Power
• The election commission under Sampath undertook several initiatives, like
a) Distribution of voter identity slips with photos at the door steps of the voters
b) Permission to vote for 11 hours, the longest-ever in the Lok Sabha elections
c) To conduct awareness campaigns among people to participate in voting, he started the process of appointing awareness observers from the Indian Information Service officers
d) Verifiable Voter Paper Audit Trail (VVPAT) was introduced in seven Lok Sabha constituencies
e) Social media was brought under the ambit of media laws and regulations

Xiaomi launched its new phablet Mi Note

Chinese smartphone maker Xiaomi on 15 January 2015 unveiled its flagship phablet Mi Note in Beijing, China.

This new Mi Note will compete against the Apple iPhone 6 Plus and Samsung Galaxy Note 4, the two newest phablets in the market.

Mi Note is designed with 16 gigabytes of memory. It is 6.95mm thin, compared to the iPhone 6 Plus which is 7.1mm in size and it is also 11g lighter than iPhone 6 Plus.

Features of Xiaomi Mi Note
• Xiaomi Mi Note has a 5.7-inch Full High Definition LCD screen with Gorilla Glass 3 protection and runs on Android-based MIUI 6 software.
• Xiaomi Mi Note supports a 13Mega Pixels camera with 4MP camera with 2-micron pixels in front.
• The smartphone is 4G-enabled, supports dual sims and is powered by a 3000mAh battery.

In short, this Mi Note is shorter, thinner and lighter than the iPhone 6 Plus. So, if you are looking to buy a stylish smartphone that is reasonable enough to suit your pocket, then this Xiaomi Mi Note is suitable one for you.

Baba Ramdev appointed as state brand ambassador of Haryana Government

Baba Ramdev was appointed as state brand ambassador of Haryana Government. Minister of Sports and Health of Haryana, Anil Vij announced the decision on 15 January 2015.

The appointment was a part of government of Haryana’s ambitious plans to promote yoga and ayurveda in Haryana state.

Haryana government‘s plan to promote Yoga and Ayurveda

• Krishna Ayurvedic college of Haryana will be developed into an Ayurvedic University whereas a yogic centre of international standards will be built in Panchkula.
• An herbal forest will be developed over thousands of acres of land in Haryana state where plants of 25 thousand species of ayurvedic herbs will be grown under the supervision of Ramdev.
• Yoga will be made a compulsory subject in schools of Haryana. Vyayamshalas and yogshalas will be constructed in all the towns and about 6500 villages of Haryana for this purpose under the guidance of Ramdev.
• Zero period in all schools of Haryana will be yoga period and the PT teachers will have to undergo a training in yoga under the guidance of Ramdev.
• An ayush wing was being established in all the hospitals of Haryana where 550 doctors will have to do a refresher course under the supervision of Ramdev. And also Anaganvadi teachers will be imparted training in yoga.

Siddhartha Chatterjee appointed as CTO of Persistent Systems Ltd

Siddhartha Chatterjee was on 14 January 2015 appointed as the Chief Technology Officer (CTO) of Persistent Systems Ltd with effect from 14 January 2015 itself.

Chatterjee will be based at the United States branch of the company.

Siddhartha Chatterjee
• Chatterjee is a graduate in Electronics and Electrical Communications Engineering from the Indian Institute of Technology, Kharagpur.
• Chatterjee has served as an Assistant and Associate Professor of Computer Science at the University of North Carolina, Chapel Hill from 1994 to 2001.
• He had also served as a post-doctoral scientist at the Research Institute for Advanced Computer Science (RIACS) at Moffett Field, California from 1991 to 1994.
• Chatterjee served for 13 years at various divisions in International Business Machines Corp. (IBM).

Persistent Systems Ltd
• Persistent Systems Ltd was founded in 1990 by IIT Kharagpur alumnus Anand Deshpande.
• The company develops software solutions in next-generation technology areas, including analytics, Big Data, cloud computing, mobility and social.
• With over 7000 employees on board, the company has offices and delivery centres across North America, Europe and Asia Pacific.
• In India, Persistent Systems Ltd operates at the offices in Bangalore, Nagpur, Goa and Hyderabad.

Noted RTI activist Subhash Chandra Agrawal conferred with Giraffe Hero award 2015

Renowned Indian RTI activist Subhash Chandra Agrawal was on 15 January 2015 conferred with the Giraffe Hero award 2015 by a US-based NGO The Giraffe Heroes Project. The award will be presented to him on 22 January 2015.

Agrawal was awarded for his bravery in utilising the Right to Information (RTI) Act, 2005 for public good despite innumerable challenges. Agrawal also holds the Guinness record of filing highest number of published letters to the editors.

His RTI applications has delivered some important orders in India like declaration of assets by Supreme Court judges, bringing political parties under the RTI act among others.

About the Giraffe Hero award
The Giraffe Heroes Project is a non-profit group which honours the risk-takers, people who are largely unknown, people who have the courage to take risks for the common people in the US and around the world.

Earlier, the following people from India were honoured with the Giraffe Hero award including Baba Amte, Mabelle Arole, Jaya Arunachalam, C P Bhatt, Sunitha Krishnan, Usha Narayane, Bunker Roy, Vijay Saluja and G Venkatasamy.

RBI issued final guidelines for banks to act as Insurance brokers

Reserve Bank of India on 15 January 2015 issued final guidelines for banks to act as insurance brokers.

Earlier, the banks were allowed to undertake insurance business as agents of insurance companies on fee basis with an aim to increase insurance penetration in the country. The banks were allowed to look forward for participation in insurance business in accordance to Union Government’s notification in which it allowed banks to do business of insurance under Section 6(1)(o) of the Banking Regulation Act, 1949.

Banks were allowed to undertake referral business through their network of branches on 29 October 2002.

RBI issued guidelines for both types of banks, who are setting JV or are undertaking insurance broking and they are
• Banks setting up a subsidiary or joint venture (JV) for undertaking insurance business with risk participation: they will not be allowed to undertake insurance business with risk participation departmentally and may do so only through a subsidiary/JV set up for the purpose. These banks can approach RBI to set JV or subsidiary for undertaking insurance business with risk participation, if in case they satisfy the eligibility criteria as on 31 March 2014. The criteria is
a) The net worth of the bank should not be less than 1000 crore rupees
b) The CRAR of the bank should not be less than 10 percent
c) The level of net non-performing assets should be not more than 3 percent
d) The bank should have made a net profit for the last three continuous years
e) The track record of the performance of the subsidiaries, if any, of the concerned bank should be satisfactory
• Banks undertaking insurance broking/corporate agency through a subsidiary or joint venture: they require prior approval of RBI for setting up a subsidiary or JV. Those banks may approach RBI for approval for setting up the subsidiary or JV if in case they satisfy the eligibility criteria as on 31 March 2014. The criteria are
a) The net worth of the bank should not be less than 500 crore rupees after investing in the equity of such company
b) The CRAR of the bank should not be less than 10 percent
c) The level of net non-performing assets should be not more than 3 percent
d) The bank should have made a net profit for the last three continuous years
e) The track record of the performance of the subsidiaries, if any, of the concerned bank should be satisfactory

Background
Earlier, Reserve Bank of India on 29 November 2013 issued draft guidelines on Entry of Banks into Insurance Business - Insurance Broking Business for public comments.

The guidelines were placed for comments in accordance to the budget speech 2013-14 presented by Finance Minister in which he said that banks will be permitted to act as insurance brokers.

The Insurance Regulatory and Development Authority (IRDA) formulated and notified the IRDA (Licensing of Banks as Insurance Brokers) Regulations, 2013. These regulations were notified to enable banks to take up the business of insurance broking departmentally.

Earlier, Insurance Regulatory and Development Authority (IRDA) Act, 1999 was passed to permit banks to enter into insurance business.

The above mentioned guidelines are in accordance to the process that was followed to finalise the guidelines that will allow banks to enter into Insurance Business.

Trade deficit of India declined to ten month low in December 2014

Trade deficit of India declined to ten month low of 9.43 billion US dollars in December 2014. The data was released by the Union Ministry of Commerce & Industry on 15 January 2015.

The trade deficit in December 2014 was narrowed by 44 percent from November 2014 due to fall down of global oil prices and fall of demand for gold.

Highlights of Trade deficit of India
• Imports of India declined by 4.8 percent to 34.8 billion US dollars in December 2014 as compare to 36.6 billion US dollars in December 2013.
• Exports of India fell by 3.8 percent to 25.4 billion US dollars and outbound shipments were valued at 26.4 billion US dollars in December 2014.
• The cost of oil imports was 9.94 billion US dollars in December 2014, down 28.6 percent as compare to 13.92 billion US dollars in December 2013.
• Gold imports at 1.34 billion US dollars in December 2014 were 7.4 percent higher than as compare to the December 2013. However, it is a sharp decline from November 2014 when inbound shipments stood at 5.6 billion US dollars.
• Exports of India from April to December 2014 at 241.15 billion US dollars, a growth of 4.02 percent as compare to 231.8 billion US dollars in April-December 2013.
• The imports of India from April to December 2014 at 351.2 billion US dollars, a growth of 3.63 percent as compare to 338.9 billion US dollars.
• The trade deficit from April to December 2014 at 110 billion US dollars compared to 107 billion US dollars in April – December 2013.
• The last low in trade deficit was 8.13 billion US dollars in February 2014.

First set of RIC readers handed over to Chiefs of Indian Navy and Coast Guard

Union Home Minister Rajnath Singh handed over the first set of Resident Identity Card (RIC) readers to Navy Chief Admiral R K Dhowan and Coast Guard Director General Vice-Admiral A G Thapliyal on 14 January 2015.

These RIC readers will be used by maritime security agencies to check identity cards of the residents of coastal area issued under RIC Scheme.

As per RIC Scheme under the National Population Registrar, government had issued these identity cards to more than 65 lakh residents of coastal villages. Apart from this, the Union government is also preparing the National Population Registrar (NPR) in 3331 coastal villages under the said scheme.

Resident Identity Card (RIC) and Scheme
• The scheme aims at strengthening coastal security measures in 9 states and 4 Union Territories that shares their borders with sea-line
• The scheme of preparing RICs for residents of coastal areas is being implemented by the Registrar General and Census Commissioner, an office under the Union Home Ministry
• Cards issued under the scheme will help the coastal security agencies to authenticate an individual’s demographic and biometric authentication without using Internet services
• These RIC cards are manufactured indigenously by Indian technology firms-- Ms ITI Limited and Ms Electronics Corporation of India Limited (ECIL)
• These cards can be read only when the key present in the RIC is authenticated by the Verification Authentication card
• RIC reader is temper-proof and self-destructs itself if it is opened in an unauthorized manner

Initially, these card readers are issued to the Navy and Coast Guard but later they will be issued to the Maritime Police stations and State Governments as well.

J & K selected for the National Award of e-Governance for Best District Level initiative

Jammu and Kashmir (J&K) on 16 January 2015 was selected for the National Award for e-Governance for the best district-level initiative in Citizen-Centric Service Delivery through ICT.

The Department of Administrative Reforms, Ministry of Personnel and Prime Minister Office has selected e-Panchayat of Jammu and Kashmir for the award.

J & K for the first time will be awarded since the institution of awards in 1997. The award will be presented by Ministry of Personnel at National Conference on e-governance to be held in Gujarat from 30 January to 31 January 2015.

About e-Panchayat
The e-Panchayat project was launched in 2013-14 in Jammu and Kashmir to strengthen 147 Panchayats. Under the project, a decentralised regime of Panchayats has been established with service delivery shifted from block level to Panchayat level.

Veteran freedom fighter Ghelubhai Naik passed away

Legendary social activist and freedom fighter Ghelubhai Naik passed away on 16 January 2015 following a brief illness in Dang District, Gujarat. He was 90.

Ghelubhai Naik
• Ghelubhai was close to Sardar Vallabhbhai Patel and started his activity in Dang District as a Sarvodaya worker in 1948.
• He was famously known for his Gandhian acts and had also set up Swaraj ashram for pioneering the education activity for the upliftment of the tribal people.
• Naik was also known for changing the names of thousands of tribal people, who were earlier bearing names like Ravio, Thagio, Nariyo etc.

China to launch construction of five new nuclear reactors with total capacity of 5 Gigawatts in 2015

China will launch the construction of at least five new nuclear reactors with a total capacity of more than 5 Gigawatts in 2015. The decision was announced by the Deputy Secretary General of Nuclear Society of China, Shen Lixin on 15 January 2015.

At Present, China has 22 nuclear reactors in operation and 26 under construction. China launched the construction of five nuclear reactors in 2014 and had planned to keep up the pace of construction of nuclear reactors in 2015.

According to the World Nuclear Association, four new reactors started operating in Fujian, Liaoning and Guangdong provinces of China in 2014.

In 2012, State Council of China outlined the current nuclear reactor construction goals and approved the 12th Five-year Plan for Nuclear Safety and Radioactive Pollution Prevention and Vision for 2020. It is aimed to triple China’s atomic energy capacity to at least 58 gigawatts by 2020.

China allocated 13 billion US dollars to improve safety at nuclear reactors of China and also to decrease severe air pollution caused by coal fired plants