First direct container MV Harbour-1Vessel between India and
Bangladesh flagged off from Krishna patnam
29-MAR-2016
The first direct container MV Harbour-1 Vessel between India and Bangladesh carrying cotton was flagged off from Krishnapatnam of Andhra Pradesh to Chittagong on 28 March 2016.
The voyage was started as a part of a coastal shipping agreement to facilitate trade between India and Bangladesh.
The trade agreements were earlier signed during the reign of the then Indian Prime Minister Indira Gandhi in 1974 and they were revived back after a period of four decades during Prime Minister Narendra Modi's visit to Dhaka in June 2015.
Key Features of the Agreement
A standard operating procedure was signed between India and Bangladesh in November 2015 to move commercial cargo between the two countries. The provisions and procedures to be followed for such movement were also stated.
Many conditions were waived by both countries to facilitate easy bilateral trade. The vessels of both the countries upon entry in to India and Bangladesh shall be treated as domestic vessels and not foreign going vessels.
The provision will play a key role in addressing the traffic congestion at Petrapole (India) and Benapole (Bangladesh) the two border points which pose as one of the biggest impediments to the movement of EXIM cargo.
This will also offer to reduce the paper work required at the customs check points and port dues paid at Indian ports too will be at par with Indian vessels.
The vessel and cargo will also enjoy complete Protection and Indemnity (P&I) coverage insuring cargo from the point of loading to the final destination and till the time the parcel reaches the final consignee.
Both the countries agree to reduce customs documentation and other requirements to the essential minimum for the purpose of easier cargo movement and to have custom stations at or near the points of entry and exit in each country.
Trade between two countries
Earlier the shipments from Indian ports being transported to Bangladesh were routed either via Colombo or Singapore. With the launch of the direct service, time taken for such shipments would come down from 2-5 days.
The opening of the sea route will also enable the movement of cargo to the North Eastern states of India through coastal shipping up to Chittagong and thereafter by road or inland waterways. Secondly, the deep draft ports on the eastern coast of India can be hub ports for the onward transportation of cargo to Bangladesh through River Sea Vessels (RSV).
Exports and Imports
Cargo moving from India to Dhaka on road will take up to 30 days. The present voyage will be reduce the travel time and become an advantage.
India mainly exports raw cotton, cotton, steel, tyres and minerals, among others, which are valued at 6 billion dollars per annum to Bangladesh.
It imports goods like textile yarn, fish, mineral fuels, cement, bran and husk which worth half a billion US dollars.
Sergey Karjakin won 2016 World Chess Candidates Tournament
29-MAR-2016
Russian grandmaster Sergey Karjakin on 28 March 2016 won the FIDE World Chess Candidates Tournament held in Moscow.
In the final Round 14, the Russian grandmaster defeated American grandmaster Fabiano Caruana.
Karjakin will now play with the incumbent world champion, Norwegian Grandmaster Magnus Carlsen, in a match for the world chess crown in the United States in November 2016.
About Sergey Karjakin
• Sergey Alexandrovich Karjakin is a Ukrainian-born Russian chess grandmaster.
• He is a former chess prodigy and holds the record for the world's youngest Grandmaster ever, having qualified for this title at the age of 12 years and 7 months.
• He won the 2012 World Rapid Chess Championship and the Chess World Cup 2015.
• He also won the Norway Chess Tournament twice and the Corus Chess Tournament in 2009.
• He has competed in six Chess Olympiads, three times for Ukraine and three times for Russia, winning three gold medals, two silver medals and a bronze.
• He was a member of the gold medal-winning Russian team at the World Team Chess Championship in Antalya in 2013.
Telecom Commission approved 112 as
Single Emergency Number for India
29-MAR-2016
The Telecom Commission approved the number 112 as the single emergency number for India on 28 March 2016. This is similar to 911of United States and 999 of United Kingdom.
With this, Indian citizens in distress can just dial the single-number 112 for all emergency services such as police, ambulance and the fire department. It will direct the call to concerned departments immediately for help.
The service will also be accessible even through those SIMs and landlines whose outgoing call facility has been stopped or temporarily suspended.
A user will be able to make communication even through SMS and the system will learn about the location of the caller that will be shared with the nearest help centre.
The service will be operated by a call centre like facility, which will have representatives speaking in Hindi, English and the local language.
All existing emergency numbers such as police (100), fire brigade (101), ambulance (102) and Emergency Disaster Management (108) will be phased out within a year of rolling out 112, depending upon the awareness about this new facility.
At present, different states of India have notified various helpline numbers for assistance to special categories of citizens. For example, Delhi notified 181 for Woman in distress, 1094 for Missing Children and Women, 1096 for Crime against Women, and Uttar Pradesh notified 1090 for Police Headquarter helpline.
Reasons to Adopt
It was chosen due to a variety of reasons. 100, which is one of the widely known numbers for emergency, was not recommended as it is associated with police and several sections of society, especially women and children, may not wish to dial it.
Telecom regulator TRAI suggested the adoption of 112 as the national emergency number in its recommendations submitted to the telecom department in April 2015.
USAID and ADB signed MoU to develop solar parks in India
29-MAR-2016
The U.S. Agency for International Development (USAID) and the Asian Development Bank (ADB) on 28 March 2016 signed a Memorandum of Understanding (MoU) to facilitate 848 million US dollars in funding to develop solar parks across India.
The agreement was signed by Jonathan Addleton, Mission Director, USAID/India and M. Teresa Kho, Country Director, India Resident Mission, Asian Development Bank.
This agreement between USAID and ADB will help finance the development of solar parks in support of the Government of India’s renewable energy targets.
Key highlights of the MoU
• USAID will align the technical resources of two of its programs to support ADB’s investments in the development of solar parks and renewable energy transmission infrastructure in states at the forefront of India’s efforts to promote clean energy.
• The collaboration will initially focus on the state of Rajasthan.
• The cooperation will design and develop public-private partnership models as well as study options for managing grid reliability.
• USAID technical activities will help place investments of 348 million US dollars by ADB for transmission infrastructure for renewable energy deployment in western Rajasthan.
• USAID will also work with ADB across India with an additional 500 million US dollars of investment in the design and development of solar parks.
Zaheer Khan appointed Captain of Delhi Daredevils for 2016 IPL season
29-MAR-2016
Zaheer Khan was on 28 March 2016 appointed as captain of the Delhi Daredevils team for 2016 Indian Premier League season.
He would replace South African all-rounder JP Duminy who was captain in the last season.
About Zaheer Khan
• He joined Delhi Daredevils franchise in 2015.
• He played seven of the team's 14 matches and took seven wickets at an average of 22.28 and an economy-rate of 6.45.
• He retired from international cricket in October 2015, having played 92 Tests with 311 wickets. He took 282 ODI wickets in 200 matches. He also played 17 Twenty20 Internationals for India.
• He also played for Royal Challengers Bangalore and Mumbai Indians before joining Delhi Dare Devils in 2015.
Pattiseema Lift Irrigation Project dedicated to people of Andhra Pradesh
29-MAR-2016
Andhra Pradesh Chief Minister N Chandrababu Naidu on 28 March 2016 dedicated the Pattiseema Lift Irrigation Project to the people of the state.
The project is situated at Pattiseema village of Polavaram mandal in West Godavari district. It started functioning on a full-scale as the installation of all 24 pump sets was completed on 24 March 2016.
Features of Pattiseema Lift Irrigation Project
• It seeks to link the two major rivers of the state – Godavari and Krishna – to benefit farmers of Krishna and Guntur districts.
• Its primary objective is to use Godavari’s flood waters for the stabilisation of Krishna delta region that faces acute shortage of water for irrigation from June to August.
• At present, an estimated 80 TMC of the 3000 TMC of the Godavari’s flood waters goes waste into the sea every year.
• Once the project is stabilised, the excess water will be diverted to drought prone Rayalaseema region.
• The construction of the project was completed at a faster pace. The first pump was commissioned and water was delivered from the Godavari into the Polavaram Right Main Canal, on 18 September 2015, within 161 days from laying the foundation.
ata Motors signed a contract with Indian Army to supply another 619 HMV trucks
29-MAR-2016
Tata Motors on 28 March 2016 announced that it signed a follow-on contract with the Indian Army to supply 619 units of its 6X6 high-mobility vehicle (HMV) multi-axle truck.
This is in conjunction, to an earlier order awarded to Tata Motors for 1239 units of its 6X6 MMV. This is the single largest order awarded to an Indian private firm in land systems by the Indian Army under the Union Ministry of Defence, Defence Procurement Procedure (DPP).
Built with a material handling crane, the Tata 6X6 HMV is meant for loading-unloading and transportation of ammunition pallets, spares and other operational equipment.
TATA 6X6 high-mobility vehicle (HMV)
• It is indigenously built with a material handling crane.
• It is meant for loading and unloading and transportation of ammunition pallets, spares and other operational equipment.
• The Tata 6X6 high-mobility all-terrain all-wheel drive vehicle was designed to cope with extreme on or off-road loads and has gone through trials, including deep water-fording, on cross-country terrains and plains.
Yokohama Rubber signed agreement with KKR to acquire Alliance Tire Group
29-MAR-2016
The Yokohama Rubber Co. Ltd. on 25 March 2016 announced that it has inked an agreement with global investment firm KKR and other concerned parties to purchase all of the shares of Alliance Tire Group (ATG). The agreed equity value of the transaction is 1179 million US dollars.
The acquisition is a part of Yokohama Rubber's plans to expand its commercial tire business.
The acquisition is expected to be finalized on 1 July 2016, after completion of all necessary closing procedures, including regulatory approvals.
About Yokohama Rubber
• The Yokohama Rubber Company Limited is a tire company based in Tokyo, Japan.
• The company was founded in 1917 in a joint venture between Yokohama Cable Manufacturing and B.F. Goodrich.
• In 1969, the company expanded to the United States as Yokohama Tire Corporation.
About KKR
• KKR & Co. L.P. was formerly known as Kohlberg Kravis Roberts & Co.
• It is an American multinational private equity firm, specializing in leveraged buyouts.
• The firm sponsors and manages private equity investment funds.
• It has completed over 400 billion US dollars of private equity transactions since its inception.
Union Government unveiled Defence Procurement Procedure 2016
29-MAR-2016
The Union Defence Minister Manohar Parrikar on 28 March 2016 unveiled the Defence Procurement Procedure 2016 (DPP 2016). It was unveiled on the sidelines of the Defexpo-2016 that was inaugurated by him at Naqueri Quitol in Quepem Taluka, Goa.
The DPP 2016 will replace the Defence Procurement Procedure 2013 (DPP 2013). It will come into force on 1 April 2016.
The key provisions of the DPP 2016 are based on the Dhirendra Singh committee report that was appointed in May 2015 to review the DPP 2013.
Highlights of Defence Procurement Procedure 2016
• Aim: The aim of the DPP is to ensure timely procurement of military equipment, systems, and platforms as required by the armed forces through optimum utilization of allocated budgetary resources.
• Scope: Except for medical equipment, it will cover all capital acquisitions undertaken by the Ministry of Defence, Defence Services and Indian Coast Guard both from indigenous sources and ex-import.
• Capital Acquisitions: Capital Acquisition schemes are broadly classified into 3 categories - Buy, Buy and Make and Make.
• The Buy scheme refers to an outright purchase of equipment and procurements under this scheme are further categorized as Buy (Indian – IDDM), Buy (Indian), and Buy (Global).
• Under the Buy and Make scheme, the procurements are categorized as Buy and Make (Indian) and Buy and Make.
• In decreasing order of priority, the procurement of defence equipment under this procedure are categorized as
1) Buy (Indian – IDDM)
2) Buy (Indian)
3) Buy and Make (Indian)
4) Buy and Make
5) Buy (Global)
• The Make category aims at developing long-term indigenous defence capabilities and procurements under this category would be pursued in isolation, in sequence or in tandem with any of the five categories under Buy or Buy and Make classifications.
• It allows the Defence Acquisition Council (DAC) to take a fast-track route to acquire weapons, which was limited to the armed forces till now.
• The Buy (Indian - Indigenously Designed, Developed and Manufactured or IDDM) category was created to boost indigenous production. For procurements under this category, it is mandatory that 40 percent of the content to be sourced locally.
• This new category was created to promote domestic manufacturing, including government funding for Research & Development and recognition of the Micro, Small and Medium Enterprises in technology development.
• Validity of the Acceptance of Necessity (AoN) has been brought down to six months from the earlier one year. It will help the defence forces to issue tenders faster.
UNICEF launched animated film series Unfairy Tales’ on refugee and migrant children
29-MAR-2016
The United Nations Children's Emergency Fund (UNICEF) on 29 March 2016 launched animate film series ‘Unfairy Tales’.
The series seeks to help frame positive perceptions towards the tens of millions of children and young people on the move globally.
As per an estimate, at least 65 million children and young people globally are on the move to escape conflict, poverty and extreme weather and find a stable life and a place to call home.
Details related to Unfairy Tales
• It is a collection of 3 animations that explain the horror behind fleeing of three children in real life.
• One story – “Ivine and the Pillow” – animates the true story of 14-year-old Ivine and her pillow, Pillow. After a perilous escape from Syria, Ivine settles at a refugee camp in Germany only to face new challenges.
• “Malak and the Boat”, tells the tale of a young girl’s voyage in a leaky boat.
• The third animation depicts the story of Mustafa, who after fleeing his home, wonders who is left to be his friend.
• These tales are part of the #actofhumanity initiative that emphasise that children are children, no matter where they come from, and that every child has rights and deserves a fair chance.
• The ad agency 180LA conceived and fully produced the series with help from animation houses Consulado, House of Colors, Bubba’s Chop Shop and Gilles+Cecilie Studio.
Bangladesh Supreme Court upheld Islam as State religion
29-MAR-2016
The Supreme Court of Bangladesh on 28 March 2016 upheld the status of Islam as the State religion. The ruling was given by the High Court Division of the court while dismissing a petition filed by Samendra Nath Goswami.
Goswami challenged the legality of the constitutional provision of Islam as the state religion (8th Constitutional Amendment, 1988) despite revival of secularism as a fundamental state policy under a 2011 amendment to the Constitution.
Background
• Bangladesh was formed out of Pakistan as a Muslim majority country in 1971. As per the 2011 census, around 87 percent are Muslims and 12 percent are Hindus.
• The original 1972 constitution of Bangladesh explicitly specified secularism as one of the four fundamental principles that govern the polity of the nation.
• However, the secularism principle was removed from the constitution in 1977 by the 5th amendment by Ziaur Rahman-led Government.
• Subsequently, Islam was declared as the state religion by the 8th amendment to the constitution in 1988.
• In 2010, the Supreme Court restored secularism as one of the basic tenets of the constitution and declared the 5th amendment as illegal. However, the provision relating to Islam as the State religion remains untouched.
• In 2011, Sheikh Hasina-led Government, through the 15th constitutional amendment, restored the Article 12 of the constitution that declares secularism as a governing principle.
Comment
Politics in Bangladesh has long been split over the question of religion. The Khaleda Zia-led Bangladesh Nationalist Party (BNP), now in opposition, supporta the provision of Islam as the official religion.
The BNP argues that the status of Islam as the state religion reflectes the heritage of the vast majority of the population.
On the other side, the incumbent Prime Minister Sheikh Hasina-led Awami League is in favour of secularism and brought in the Article 12 of the constitution.
Renowned American author Jim Harrison died
30-MAR-2016
Fiction writer, poet and essayist, Jim Harrison passed away on 26 March 2016 due to cardiac arrest in Patagonia, Arizona, United States. He was 78.
Harrison is best known for his 1979 novella Legends of the Fall. He was called a force of nature, and his works were compared to that of William Faulkner and Ernest Hemingway.
The author obtained his B.A. in 1960 and M.A. in 1964 in comparative literature from Michigan State University.
After working as an Assistant Professor of English at Stony Brook University for an year, Harrison started working full-time as a writer.
Harrison’s work appeared in many leading publications, including The New Yorker, Esquire, Sports Illustrated, Rolling Stone, Outside,Playboy, Men's Journal and The New York Times Book Review. He published several collections of novellas, two of which were eventually turned into films- Revenge and Legends of the Fall.
CBDT signed 11 unilateral Advance Pricing Agreements
30-MAR-2016
The Central Board of Direct Taxes (CBDT) on 28 March 2016 signed 11 unilateral Advance Pricing Agreements (APAs). With this, India entered into 59 unilateral/bilateral APAs.
The APA programme was introduced by the Finance Act, 2012 to provide a predictable and non-adversarial tax regime and to reduce litigation in the Indian transfer pricing regime. 50 of these agreements were signed in the financial year 2015-16.
Highlights of the Agreements
• It covers a range of international transactions, including corporate guarantees, royalty, software development services, IT enabled services and trading.
• It pertains to different industrial sectors like telecom, media, automobiles, IT services, and others.
• Some of the agreements have rollback provisions and provide certainty to the taxpayers for 9 years with regard to the covered international transactions.
Rollback provisions in APAs were introduced in the July 2014 Budget to provide certainty on the pricing of international transactions for 4 years (rollback years) preceding the first year from which APA becomes applicable. With the notification of Rollback rules in March 2015, the taxpayer has been provided the option to choose certainty in transfer pricing matters with the Government for a total of nine years (5 future years and 4 prior years).
Since the notification of the APA scheme on 30 August 2012, approximately 580 applications for APAs have been received and about half of these contain a request for the Rollback provisions. The number of applications is indicative of the wide international and national appreciation of the India’s APA programme’s ability to address complex transfer pricing issues in a fair and transparent manner.
RBI cancelled Certificate of Registration of 22 NBFCs
30-MAR-2016
he Reserve Bank of India (RBI) on 29 March 2016 cancelled the certificate of registration of the 22 Non-Banking Financial Companies (NBFCs).
RBI cancelled their certificates of registration by exercising the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934.
The NBFCs whose certificate of registration were cancelled include
• Kundan Leasing and Finvest Private Limited
• Amazan Capital Limited
• Vuma Maheswara Finvest Limited
• Nawalsons Holdings Private Limited
• Raseera Investments Private Limited
• Surin Investments Private Limited
• M3 Investment Managers Private Limited
• Mascot Commerce Pvt. Ltd.
• Integrity Trading Company Private Limited
• Limtex Impex Private Limited
• Shyamashree Foods Pvt. Ltd.
• Vrindavan Services Private Ltd.
• Nirankar Investments Private Limited
• Dignity Motors Finance Limited
• Credence Securities Private Limited
• International Steel Industries Limited (Formerly Chitalia Infotech (I) Ltd.)
• Trepechy Textile Limited (Formerly Trepechy Finance Limited)
• Akansha Consultancy Services Limited
• Sierra Investments Limited
• Priyam Commercial Enterprises Private Limited
• Bini Commercial Enterprises Private Limited
• RR Securities Limited
Following the cancellation of registration certificate, these companies cannot transact the business of a non-banking financial institution as laid down under clause (a) of Section 45-I of the Reserve Bank of India Act, 1934.
Union Government launched
Innovative Entrepreneurship & Skill
Development Programme of MANAS
30-MAR-2016
Union Minister for Minority Affairs Najma Heptulla on 29 March 2016 launched innovative entrepreneurship and skill development programme of Maulana Azad National Academy for Skills (MANAS)through leading national and international experts in different skill sets.
The innovative Scheme proposes to use leading celebrities who belong to Minority communities in various skill sets as the driving force behind the skill development projects in their respective fields.
It is for the benefit of marginalised sections of minority communities.
Who are these celebrities?
The Celebrities are icons for youths all over the country and are well known public figures, who are recognized by their name, face and their associated trades/skill sets.
They could motivate young population to excel in the chosen field of trade/expertise.
Most of them are, more than eager to repay their respective communities by using their expertise and stature in their respective fields, for the benefit of marginalised sections of their communities and also for the society at large, by supporting the cause of skill development/up-gradation in their own areas of expertise.
This is based upon the feedback received from the interaction with several leading personalities and icons in different skill sets, mainly, in Beauty and Wellness Sector, Textile & Fashion Designing, Media & Entertainment etc. like Javed Habib Akter, Shahnaz Hussain, Wendell Rodricks, Kamal Haasan and many more personalities.
About Maulana Azad National academy
for Skills (MANAS)
It was established under the aegis of Ministry of Minority Affairs (MOMA) by National Minorities Development and Finance Corporation (NMDFC) on 11 November, 2014 to fulfil the vision of Skill India and also achieve the over-riding goal of the Union Government SabkaSaath – SabkaVikas.
It provides an institutional arrangement to meet all Skill Development or Up-gradation needs of the Minority communities in India. A Special Purpose Vehicle (SPV), it comprises of an extensive All India Level, Training Framework based on Collaboration (PPP mode) with leading and reputed Training Providers at National/ International level, in India.
ISRO to launch 22 satellites in single mission
30-MAR-2016
Indian Space Research Organization (ISRO) is set to launch a record number of 22 satellites in a single mission in May 2016.
The launch vehicle will inject 22 satellites into orbit, a first in the history of the organisation.
Polar Satellite Launch Vehicle, PSLV C34 will carry India’s remote sensing satellite Cartosat 2C along with 21 other satellites to be injected into the orbit.
The 21 satellites to be launched will include four micro-satellites weighing 85 to 130 kg each and 17 nano-satellites weighing 4 to 30 kg. 18 of these satellites are being launched for foreign agencies including the United States, Canada, Germany and Indonesia. Two of the nano-satellites have been developed by the Pune Engineering College and Sathyabama University, Chennai.
The four micro-satellites to be
launched are:
• Maritime Monitoring and Messaging Microsatellite (M3MSAT): This micro-satellite of Canada will be used for collection and study of automatic identification system signals from low earth orbit.
• LAPAN A3: The micro-satellite of Indonesia will used for earth surveillance and magnetic field monitoring.
• BIROS: This German satellite is meant for remote sensing of high temperature events.
• SKYSAT Gen2-1: This US satellite will be used for earth imaging.
The satellites will be launched from the Satish Dhawan Space Centre in Sriharikota.
SEBI hiked FPI investment limit for government debt
30-MAR-2016
Markets regulator, the Securities and Exchange Board of India (SEBI) on 29 March 2016 decided to increase the Foreign Portfolio Investors (FPI) investment limit in Central Government securities. This will boost inflows of foreign funds into Indian capital markets.
The limit was increased to 140000 crore rupees from 135400 crore rupees and will be effective from 4 April 2016. It will be further increased to 144000 crore rupees from 5 July 2016.
Main Highlights
There will be a separate limit for investment by all FPIs in the state development loans.
• The limit for long term FPIs (Sovereign Wealth Funds, Multilateral Agencies, Endowment Funds, Insurance Funds, Pension Funds and Foreign Central Banks) in the Central Government securities will be enhanced to 50000 crore rupees from 4 April 2016 and 56000 crore rupees on 5 July 2016. Currently, the existing limit is 44100 crore rupees for long term FPIs.
• The limit for investment by all FPIs in State Development Loans (SDL) was enhanced to 10500 crore rupees on 4 April 2016 and 14000 crore rupees on 5 July 2016 respectively from the existing limit of 7000 crore rupees.
• For long term FPIs the incremental limits were raised to 5900 crore rupees on 4 April 2016 and 6000 crore rupees on 5 July 2016.
• The incremental limits of 3500 crore rupees each for investment by FPIs in SDLs shall be available for investment on tap with effect from 4 April 2016 and 5 July 2016 respectively.
• Keeping in view the extent of utilisation of the limits for Central Government securities by long term and other investors, SEBI decided that from 1 October 2016, any unutilised limit within the Government debt limit for Long Term FPIs, at the end of the half-year, shall be made available for investment as additional limit to all categories of FPIs for the subsequent half-year.
The decision issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992 came into effect immediately.
RBI signed Special Currency Swap Agreement with the Central Bank of Sri Lanka
30-MAR-2016
The Reserve Bank of India (RBI) on 29 March 2016 signed a Special Currency Swap Agreement with the Central Bank of Sri Lanka.
Under the arrangement, the Central Bank of Sri Lanka can draw up to 700 million US dollars for a maximum period of three months. This special arrangement is in addition to the existing Framework on Currency Swap Arrangement for the SAARC Member Countries.
The proposal to extend the additional currency swap facility of 700 million US dollars to Sri Lanka for a limited period was decided with concurrence of the Union Government in March 2016 for short-term liquidity management in the context of India’s strong bilateral relations and economic ties with Sri Lanka.
P Susheela entered Guinness World Records for recording highest number of songs in several languages
30-MAR-2016
Renowned playback singer P. Susheela Mohan in the last week of March 2016 entered the Guinness Book of Records for singing 17695 songs in 12 Indian languages.
On the other hand, Asia Book of Records also officially recognised Susheela for singing most number of songs in Indian languages.
While the Guinness Book of Records officially credited her for singing 17695 songs (solo, duet and chorus backed songs) in twelve Indian languages, Asia Book of Records recognised her for singing 17330 songs.
About P. Susheela Mohan
• Pulapaka Susheela Mohan, popularly known as P. Susheela, is an Indian playback singer.
• She is associated with the South Indian cinema for over six decades.
• She was the first playback singer to receive the first National Film Award for Best Female Playback Singer in 1969. She went on to receive the same four more times in 1971, 1978, 1982 and 1983.
• She was awarded the Padma Bhushan by the Government of India in January 2008.
• In a career spanning more than six decades, she has recorded numerous songs in various Indian languages including Telugu, Tamil, Malayalam, Kannada, Hindi, Bengali, Oriya, Sanskrit, Tulu, Badaga.
DIPP notified Guidelines for 100% FDI in B2B E-commerce
30-MAR-2016
The Department of Industrial Policy and Promotion (DIPP) on 29 March 2016 notified Guidelines for 100 percent Foreign Direct Investment (FDI) in Business to Business (B2B) e-commerce.
The guidelines were issued under the Consolidated FDI Policy Circular 2015 that was notified by the DIPP of the Ministry of Commerce and Industry.
Highlights of the guidelines
• E-commerce means buying and selling of goods and services including digital products over digital and electronic network.
• 100 percent FDI under automatic route is permitted in marketplace model of e-commerce.
• FDI is not permitted in inventory based model of e-commerce.
• Marketplace e-commerce entity will be permitted to enter into transactions with sellers registered on its platform on B2B basis.
• E-commerce marketplaces may provide support services to sellers in respect of warehousing, logistics, order fulfillment, call centre, payment collection and other services.
• E-commerce entity providing marketplace will not exercise ownership over the inventory. Such an ownership over the inventory will render the business into inventory based model.
• An e-commerce entity will not permit more than 25 percent of the sales affected through its marketplace from one vendor to their group companies.
Marketplace model vs. Inventory
model
• Marketplace based model of e-commerce means providing of an information technology platform by an e-commerce entity on a digital and electronic network to act a facilitator between buyer and seller.
• Inventory based model of e-commerce means e-commerce activity where inventory of goods and services is owned by e-commerce entity and is sold to the consumers directly.
• Indian Scenario: In India, 100 percent FDI under automatic route is permitted in marketplace model, while no FDI is permitted in inventory based model of e-commerce.
• In marketplace model, any warrantee or guarantee of goods and services sold will be responsible of the seller.
• E-commerce entities providing marketplace will not directly or indirectly influence the sale price of goods or services and shall remain level playing field.
Comment
As per the Consolidated FDI Policy Circular 2015, FDI up to 100 percent under automatic route is permitted in B2B e-commerce, while no FDI is permitted in Business to Consumer (B2C) e-commerce.
Though this consolidated policy was issued in May 2015 and led to large scale foreign investments in this sector there had been considerable vacuum with respect to operational guidelines of e-commerce platforms. This present guidelines fill that critical gap.
DIPP notified Guidelines for 100% FDI in B2B E-commerce
30-MAR-2016
The Department of Industrial Policy and Promotion (DIPP) on 29 March 2016 notified Guidelines for 100 percent Foreign Direct Investment (FDI) in Business to Business (B2B) e-commerce.
The guidelines were issued under the Consolidated FDI Policy Circular 2015 that was notified by the DIPP of the Ministry of Commerce and Industry.
Highlights of the guidelines
• E-commerce means buying and selling of goods and services including digital products over digital and electronic network.
• 100 percent FDI under automatic route is permitted in marketplace model of e-commerce.
• FDI is not permitted in inventory based model of e-commerce.
• Marketplace e-commerce entity will be permitted to enter into transactions with sellers registered on its platform on B2B basis.
• E-commerce marketplaces may provide support services to sellers in respect of warehousing, logistics, order fulfillment, call centre, payment collection and other services.
• E-commerce entity providing marketplace will not exercise ownership over the inventory. Such an ownership over the inventory will render the business into inventory based model.
• An e-commerce entity will not permit more than 25 percent of the sales affected through its marketplace from one vendor to their group companies.
Marketplace model vs. Inventory
model
• Marketplace based model of e-commerce means providing of an information technology platform by an e-commerce entity on a digital and electronic network to act a facilitator between buyer and seller.
• Inventory based model of e-commerce means e-commerce activity where inventory of goods and services is owned by e-commerce entity and is sold to the consumers directly.
• Indian Scenario: In India, 100 percent FDI under automatic route is permitted in marketplace model, while no FDI is permitted in inventory based model of e-commerce.
• In marketplace model, any warrantee or guarantee of goods and services sold will be responsible of the seller.
• E-commerce entities providing marketplace will not directly or indirectly influence the sale price of goods or services and shall remain level playing field.
Comment
As per the Consolidated FDI Policy Circular 2015, FDI up to 100 percent under automatic route is permitted in B2B e-commerce, while no FDI is permitted in Business to Consumer (B2C) e-commerce.
Though this consolidated policy was issued in May 2015 and led to large scale foreign investments in this sector there had been considerable vacuum with respect to operational guidelines of e-commerce platforms. This present guidelines fill that critical gap.
Htin Kyaw took oath as Myanmar's first elected President
30-MAR-2016
Htin Kyaw was sworn-in President of Myanmar on 30 March 2016 at a joint session of parliament in the capital Nay Pyi Taw.
With this, Aung San Suu Kyi's close aide Kyaw also became the first elected civilian leader to be the President of the country after 53 years of military rule. Army took power in a 1962 coup.
Htin Kyaw, 69, from the National League for Democracy (NLD) took over from Thein Sein, who introduced wide-ranging reforms during his five years in power.
Although, NLD leader Aung San Suu Kyi is barred from the Presidency, she said that she will rule by proxy. The handover completes the transition that began after the NLD won a landslide win in elections in November 2015.
Kyaw was elected as the president of the country by the Myanmar's Parliament on 15 March 2016. Others to sworn-in included Vice-presidents Henry Van Thio and Myint Swe, who lost to Kyaw in the presidential vote on 15 March 2016. They were also sworn in, as were new cabinet ministers. Suu Kyi will be in charge of foreign affairs, the president's office, education, and energy and electric power.
Besides, the military also appointed its own nominees for three key ministries namely defence, home affairs and border affairs.
Russia approved OVL deal to acquire 15% stake in Vankor oilfield for $1.3 billion
30-MAR-2016
The Government of Russia 24 March 2016 approved a deal for ONGC Videsh Ltd (OVL) to acquire 15 percent stake in Vankor oilfield from Rosneft.
The deal is worth 1.3 billion US dollars. It was signed between the OVL and Rosneft in September 2015.
This deal is in addition to another deal that was signed between the OVL and three other oil companies in March 2016.
As per the deal, OVL’s stake in Vankor will raise to 26 per cent from 15 per cent, while the other three companies could together pick up 23.9 per cent. Consequently, Rosneft will retain the remaining 50.1 per cent.
Both these deals will help India secure access to lucrative Russia's oil market, while Rosneft will gain access to the Indian market.
About Vankor oilfield
• It is located in Russia’s east Siberia and consists of 500 mn tonnes of oil and 182 bn cubic meters of gas.
• It started commercial production in 2009 and, at present, produces 440000 barrels of oil per day.
• The field, which was discovered in 1988, is the largest field in Russia and key provider of volumes to the East Siberia Pacific Ocean (ESPO) Pipeline that fulfills the energy needs of China.
China launched 22nd BeiDou navigation satellite
30-MAR-2016
China on 30 March 2016 launched its 22nd satellite for its BeiDou Navigation Satellite System (BDS). The satellite was launched aboard a Long March-3A carrier rocket from the Xichang Satellite Launch Center in the southwestern province of Sichuan.
The BeiDou system will be completed in 2020 and will comprise over 30 satellites.
It was the 225th launch of the Long March carrier rocket.
BeiDou currently provides navigation services within China and the neighboring regions. After entering its designated work orbit and finishing in-orbit testing, it will join others available in the orbit.
After completion, the project would become an equivalent of the US Global Positioning System, Russia's Glonass, and Europe's Galileo navigation satellites.
Supreme Court approved guidelines of Union Government to protect Good Samaritans
30-MAR-2016
The Supreme Court on 30 March 2016 approved the guidelines of Union Government to protect Good Samaritans, who help road accident victims, from being unnecessarily harassed by police or any other authority.
The apex court asked Union government to give wide publicity to these guidelines so that people who help others in the time of distress are not victimised by any authority.
Union Ministry of Road Transport and Highways placed the guidelines based on the recommendations of the three-member committee chaired by former judge KS Radhakrishnan.
It placed the report before the apex court with an aim to issue these guidelines through an order binding on all states and Union Territories, until the Union government enacts a law to this effect because it is difficult to enforce these guidelines in the absence of any statutory backing.
Earlier in March 2016, the Apex Court had said it will pass an order on the recommendations of a committee headed by its former judge on road safety which advocated that people saving lives of road accident victims need not fear harassment by police or other authorities.
The court had in 2014 appointed the three-member committee to monitor steps taken by the Union and state governments to ensure road safety.
The committee gave 12 major recommendations including setting up of State Road Safety Councils, evolving a protocol for identification of black spots, their removal and monitoring to see the effectiveness of the action taken.
The committee had also suggested strengthening of enforcement relating to drunken driving, over-speeding, red light jumping and helmet or seat belt laws.
Haryana launched Project Salamati for
injectable contraceptive
30-MAR-2016
The Chief Minister of Haryana Manohar Lal Khattar on 29 March 2016 launched Project Salamati in Chandigarh. The project seeks to maintain a healthy balance between the births of children by using injectable contraceptive.
With this launch, Haryana became the first State in the country to launch injectable contraceptive as part of a government initiative.
Highlights of Project Salamati
• It is a public sector family planning programme implemented by the Haryana Health Department with the assistance of Pathfinder International and the Bill & Melinda Gates Foundation.
• Under this initiative, injectable contraceptive will be provided free of cost at all Primary Health Centres, Community Health Centres, Sub Divisional and District Hospitals.
• It seeks to improve sexual and reproductive health outcomes among women of reproductive age with a special focus on young women between 15 and 24 years of age.
• Its objective is to increase demand for and access to quality service provision of family planning mix methods.
• It will be implemented on a pilot basis in 9 health blocks of four districts of the State. The 9 blocks are - 4 health blocks in district Palwal, 3 in Mewat, Kurali block in Faridabad and Khor block in district Rewari.
• These districts have been chosen as a pilot project, as Maternal Mortality Rate (MMR) and Infant Mortality Rate (IMR) are high in these districts compared to other districts.
• After the success of this project in these health blocks, it would be implemented throughout the State.
IIT-Patna organised First International
Symposium on 5G
30-MAR-2016
The Indian Institute of Technology Patna (IIT-P) organised the First International Symposium on Fifth Generation (5G) technology. The symposium commenced on 29 March 2016 and will conclude on 31 March 2016 in Patna.
The Patna 5G Summit is co-sponsored by IEEE Communications Society, Center for TeleInfrastruktur, Aalborg University (CTIF), Global ICT Standardization Forum for India (GISFI) and IEEE Kolkata Section.
The aim of the symposium is to bring academia, industry, government organizations etc. to participate and share their research intuition and views over the possible 5G technologies, standardization aspects, heterogeneous networks, architectural designs, wireless techniques and new hardware designs.
During the symposium, Union Communications and Information Technology Minister Ravi Shankar Prasad announced that IIT-P along with IIT Bombay, IIT Madras and Indian Institute of Science, Bangalore will be a part of innovation and research for 5G technology in India.
Besides, the Union Government also allocated 36 crore rupees for innovation and research in 5G.
About 5G
5G denotes the next major phase of mobile telecommunications standards beyond the current 4G/IMT-Advanced standards. 5G has speeds beyond what the current 4G can offer.
The International Telecommunication Union (ITU) in June 2015 haddefined the speed of 5G standard for mobile networking as 20 Gigabits per second (Gbps).
Rakesh Mohan joined Nestle India
Board as Independent Non—Executive
Director
30-MAR-2016
Nestle India Ltd. on 28 March 2016 announced that former RBI Deputy Governor Rakesh Mohan joined the Board of the company as an Independent Non—Executive Director.
His appointment will be effective from 1 May 2016. For Rakesh Mohan, this is the second stint at the company.
About Rakesh Mohan
• He is an Indian economist and former civil servant.
• He was the Deputy Governor of Reserve Bank of India (RBI) from September 2002 to October 2004 and July 2005 to June 2009.
• He worked as the Secretary in Department of Economic Affairs (DEA), Ministry of Finance between October 2004 and July 2005.
• He was on Nestle India’s board between April 2010 and October 2012 and had to relinquish it following his appointment as executive director at the International Monetary Fund (IMF).
• He completed his three-year term at IMF in November 2015.
Biocon received approval to sell
Insulin Glargine in Japan
30-MAR-2016
Biocon Ltd on 28 March 2016 announced that the Ministry of Health, Labour and Welfare (MHLW) of Japan approved its biosimilar Insulin Glargine.
The approval for Insulin Glargine was obtained post successful completion of initial development by Biocon and local Phase III Clinical Studies in over 250 Type 1 Diabetes patients by its partner FUJIFILM Pharma Co. Ltd (FFP) in Japan.
The product will be available in Japan in 2017 in the form of disposable pen with 3 ml of 100IU Insulin Glargine. At present, it is available in India with the brand name Basalog One.
With this launch, the company is also aiming to capture a significant share of the Japanese Glargine market of 144 million US dollars.
It is the second largest market outside of North America and Europe and is largely dominated by disposable pens.
About Biocon Ltd
• It is India's largest and fully-integrated, innovation-led biopharmaceutical company.
• The Bengaluru-based company serves its customers in over 100 countries.
• Its products are focused on chronic diseases like autoimmune, diabetes and cancer.
• It has successfully developed and taken a range of novel biologics, biosimilars, differentiated small molecules and affordable recombinant human insulin and analogs from 'Lab to Market'.
• It has a rich pipeline of biosimilars and novel biologics at various stages of development including high potential oral insulin.
Patrick Dupuis appointed to Wipro’s
Board of Directors
31-MAR-2016
Wipro Limited on 30 March 2016 announced the appointment of Patrick Dupuis to its Board of Directors, effective 1 April 2016.
Dupuis will serve as an Independent Director on the Board.
Who is Patrick Dupuis?
• Dupuis, who holds an experience of over 30 years, currently serves as the Senior Vice President for Simplicity, Quality and Productivity at Global technology platform and payments leader, PayPal Holdings, Inc.
• He joined PayPal in 2010 as Chief Financial Officer to help PayPal expand globally and build a sustainable growth company.
• He was instrumental in PayPal's separation from eBay Inc. and listing on the Nasdaq in 2015.
• He was previously the CFO of Sitel, a leader in customer service and BJC Healthcare, one of the largest non-profit health care organizations in the US.
• He previously spent 20 years at GE, where he was made an officer at 34.
• His last two roles at GE were CFO of BJC Healthcare and GM of GE Capital International Services (now Genpact).
• He graduated from the Ecole de Management de Lyon in France.
Faustin Archange Touadera took oath
as Central African Republic's President
31-MAR-2016
Faustin Archange Touadera was sworn-in as President of Central African Republic on 30 March 2016 at the main stadium in the capital Bangui.
With this, 58-year-old Tauadera became the first elected President of the country in three years, since Muslim rebel alliance Selekaoverthrew the government in 2013.
Touadera, a former math Professor and Prime Minister won the February 14 runoff with nearly 63 percent of the vote. His presidency puts an end to a two-year transitional government that came into force in early 2014.
Touadera was sworn-in as President at the time when the former coloniser France said that its troops have planned to leave the country by the end of the year. It has decided to end its military intervention in the nation as it has achieved its objective of restoring security to the country after three years of communal violence.
France launched Operation Sangaris in December 2013, at the height of the violence that swept the country