Current affairs feb 2014

Indias aviation safety

The US Federal Aviation Administration (FAA) downgraded Indias aviation safety ranking to category 2,
putting it below Pakistan and on a par with countries such as Zimbabwe and Bangladesh.
India carries would not be able to add new flights to the US.
GDP growth
Growth in 2012-13 is the lowest in a decade, with the previous low of 4% recorded in 2002-03.
The estimates for 2012-13 were released by the Central Statistics Office (CSO) under the Ministry of
Statistics and Programme Implementation.
5
th
SAARC (South Asian Association for Regional Cooperation) Business Leaders Conclave
held in New Delhi.
Historical Sikh Shrines of Jammu and Kashmir.
A book written by Commodor Dalbir Singh Sodhi
101
st
Indian Science Congress (ISC)
Held at Jammu
The next session will be held in Mumbai in January- February in 2015.
India, Germany to ink pact on green energy corridor
During visit of German President Joachim Gauck to India.
Satya Nadella
takes over as Microsofts new CEO
He takes over from Steve Ballmer.
Nadella is only the third CEO in the companys history.
Seventh Pay Commission
Former Supreme Court Judge Ashok Kumar Mathur will head the Seventh Pay Commission.
Its recommendations would be implemented from January 1, 2016.
third party payment norms
The RBI liberalized the third party payment norms for import of goods by removing the ceiling of
$100,000.
SEWA (self employed womens association)
Established by Ela Bhatt
Syndicate Bank launches Synd Disha scheme
Applicable to domestic NRE/NRO term deposits
Rafale deal deferred
Government was probing complaints on the procedures of calculating the life cycle costs of procuring
the 126 Rafale fighter jets from France.
Life cycle costs is the cost to operate the aircraft, its spares, engines and wear and tear to various parts.
Deal is valued at nearly $11 billion (Rs 66,000 crore approx).
Four pvt entities get RBI nod to set up White-label ATMs
1. Tata Communications payment solutions limited,
2. prizm payment services Pvt. Ltd.,
3. muthoot finance limited
4. vakrangee limited.
Set up under the payment and settlement systems act, 2007.
Indian athletes participate in the Sochi Winter Olympic games (Russia) as independents.
under the IOC flag and not under Indian flag.
Indian Olympic association (IOC) was suspended by the international Olympic committee (IOC) for not
adhering to its rules of governance.
The decks were cleared subsequently for Indias return to the Olympic fold with Indian Olympic
Association (IAO) conducting its polls. N Ramachandran, World Squash Federation chief was elected as
president.
Agriculture
55 per cent of nations population is in agriculture and its share in the GDP has reduced to a mere 27
per cent.
Every 1% growth in agriculture would add 20 bases points to the GDP number
Bitcoin
Bitcoin was created in 2009 by an MIT student named Satoshi Nakamoto.
Bitcoin are minted by a process designed as mining. Current block rewards 25 bitcoins.
Bitcoin can be divided into millions of parts (every part is called satoshi).
The transactions in this network are free, or in some cases include a tiny transaction fee.
It can be exchanged for other currencies
Justice Mudgal panel
to deal with match fixing in cricketSS Barnalas book is Quest for Freedom
Iraqi Prime Minister is Noor Al Maliki
Yasser Arafat successor in Palestine is Mahmoud Abbas.
Although India is on top in the world withmilk productionFeb.12,2014 The Tribune
Sahara episode
Two Sahara companies Sahara India Real Estate Corp Ltd (SIREC) and Sahara India Housing Investment
Corp Ltd (SHIC)- had raised about 25000 crore rupees from three crore investors.
Funds were raised from small investors in the form of fully convertible debentures since 2008.
SC declared the schemes illegal and asked Sahara to refund the money
Following the SC verdict, Sahara gave Rs 5,120 crore to SEBI, contending that it had directly returned
the remaining amount to the investors.
While documents showed how they had raised the funds from the market in the form of fully
convertible debentures since 2008, there were no corresponding transactions to substantiate the
refund claim.
SC sent Sahara boss, Subroto roy to jail for contempt
US drags India to WTO over solar projects on the issue of the country mandating use of only local
equipment for solar projects.
On February 11, India has officially been declared polio free after reporting three consecutive years of
zero cases. Only three countries remain in the list of WHOs polio endemic nations- Pakistan, Nigeria
and Afghanistan.
IPL- 7 AUCTION:
Yuvraj Singh fetched a record bid of Rs 14 crore.
Japan and china:
Tensions between Japan and China have escalated sharply over the disputed Senkaku Islands, which
have been under Japanese control.
Chinese declaration of an Air Defence Identification Zone (ADIZ) require all foreign aircraft flying across
the East China Sea to identify themselves to the Chinese authorities.
Japanese investment in India is steadily expanding, particularly in the automotive sector, with larger
investment flows expected in fast trains and the Metro rail networks.
Japanese companies are helping in the development of national manufacturing zones.
Red beacon
In a recent judgement the Supreme Court,ruled that only the constitutional authorities were entitled to
this privilege.
SEBI clears new corporate governance norms
Greater oversight by minority shareholders and independent directors.
listed companies are required to justify CEO salaries,
put in place whistle- blower policies
have orderly succession plans
check all transactions with entities linked to promoters and directors.
The VIII Summit of the Pacific Alliance in Cartagena, Colombia,
granted India observer status.
The summit was attended by the Presidents of the four member states Mexico, Colombia, Peru and
Chile.
SAARC meeting in Maldives from Feb 20
External Affairs Minister Salman Khurshid will represent India
No high-level meeting of the eight-member group has taken place since the 17
th
summit was held in
Addu City in Maldives In November 2011.
Telangana
It will become the 29
th
state of the country.
Parliament has passed the Andhra Pradesh Reorganization Bill 2013
AP will be divided into 2 regions: Telangana and residual state
Of 23 districts in AP, Telangana will get 9 districts. The residulal state will have 13 districts.
Hyderabad, a separate district, will be the common capital for 10 years.
Of 42 LS seats, 17 will go to Telangana. The remaining state will get 25 seats.
PM Manmohan Singh announced grant of Special Category Status to the residuary state
ItalianMarines case
Two Italian Marines, accused of shooting down two Indian fishermen off Kerala coast would not be
slapped with any charge that would entail awarding them death penalty.
Anti- terror and anti piracy laws will not apply to the accused marines.
Italy claims the fishermen were killed in international waters when they were mistaken for pirates and
the duo should be tried under international laws.
India asserts they were involved in the killing.
M & A
In a bid to spur M & As in the crowded telecom sector, the government today eased rules by allowing
mergers between firms with up to 50 per cent combined market share.
At present, it is 40 per cent.
Ukraine crisis
capital of Ukraine is KIEV
Protests erupted in November when President Viktor Yanukovych abruptly refused to sign a long-
anticipated political association and free trade agreement with the EU, opting instead for closer ties
with Russia.
KIEV Ukrainian parliament voted to remove President
Russia planned to invade Ukraine
Crimeas Parliament voted to join Russia
Ukraines Prime Minister is Arseny Yatseniuk
President Barack Obama and key European leaders skip junes G8 summit in Sochi
NATOs secretary- general, Anders Fogh Rasmussen warned Moscow that it was threatening peace in
Europe with its seizure of Crimea.
OSCAR AWARDS / ACADEMY HONOURS
Best Picture '12 Years a Slave'
Best Director Alfonso Cuaron ('Gravity')
Best Actor Matthew McConaughey ('Dallas Buyers Club')
Best Actress Cate Blanchett ('Blue Jasmine')
Space thriller Gravity walks away with 7 awards
BAFTA awards 2014
12 Years A Slave : best picture
Best director to Gravity Cuaron
Chiwetel Ejiofor: best actor for 12 Years A Slave
Best Actress: Cate Blanchett for Blue Jasmine.
vaccination against H1N1:
H1N1 is a flu virus and had nothing to do with pigs.
Hindus: An Alternative History
A book written by Wendy Doniger
Indias only environment film festival
Called Vatavaran
held bi- annually
was in the Delhi in Jan-feb 2014.
G-20
finance ministers and central bank governors meet held in Sydney in February 2014
G 20 pledged to
1. boost global growth by 2 percent, or over USD 2 trillion, over five years,
2. to work on automatic tax information flow and
3. IMF reforms
There is delay in IMF quota reforms implementation as the US is yet to ratify it.
Quota reforms will increase the say of emerging economies in IMF.
JK Rowling
Cuckoos Calling is her first book written under the pen name Robert Galbraith.
PM of Australia is Tony Abbott
KGD6 gas fields
Gas production from RILs KGD6 gas fields has been lagging targetsGovt is penalizing the firm by
disallowing a portion of cost incurred.
Admiral DK Joshi
Navy Chief Admiral DK Joshi resigned following a naval accident involving submarine INS Sindhuratna.
In Aug 2013, Submarine INS Sindhurakshak sank
Smartphone sales
Korean player Samsung maintained its leadership with a 38% share of the Indian smartphone market,
followed by Micromax.
Maruti Suzuki India Ltd.
Maruti Suzuki India Ltd. (MSIL) has decided to let its parent company Suzuki Motor Corp (SMC) to take
over its new plant in Gujarat
SMC would operate the plant on no- profit, no- loss.
New Investments would be made directly by the SMC
Bharatiya Mahila Bank to open 80 branches by March 15
started with a capital of Rs 1,000 crore,
More than 60% of the lending will be for women customers.
One rank- one pension (OROP) for ex- servicemen.
Announced in the Budget by the Union Finance Minister.
Miscellaneous
Government has decided to de- link LPG subsidy from Aadhar
Chief Minister of Uttrakhand is Harish Rawat
Karnataka won Ranjit Trophy title after beating Maharashtra.
Tiger Woods came to India on February 4
The prevalence of AIDS at the national level is 0.27
Germany continues to be Indias largest trading partner in Europe.
Sony will sell its personal- computer business (VAIO).
Syrian capital is Homs
FIFA president is Sepp Blatter
Lohia Auto is the first and the only Indian company to pioneer into manufacturing of electric vehicles in
the country
India ranks 140
th
in worlds Press Freedom Index. At the top is Finland
Chinas moon rover called Yutu or the Jade Rabbit declared dead
Ranji champions Karnataka win over Rest of India (ROI) to lift the Irani Trophy crown.
Assam has become the first state in the country to impose a ban on the consumption of all forms of
smokeless tobacco, including pan masala.
Indian Railway is the fourth largest in the world after the US, China and Russia.
Arab Spring started in state of Tunisia
SEBI clears new KRA (KYC Registration Agency)
American photographer John Stanmeyer won the World Press Photo of the Year award for 2013 on
Friday with a moonlit shot of African migrants in Djibouti holding their cellphones to the sky, seeking a
better reception signal.
Italian Prime Minister Enrico Letta resigned. Matteo Renzi to take his place.
UP has 80 MPs
Airtel to buy Loop Mobiles business which is operational in Mumbai circle only.
Bharti Airtel, Indias biggest mobile service company, has become the first in the country to cross 200
million subscribers. The company started services in 1995.
Uday Kotak, executive vice- chairman, Kotak Mahindra Bank, was named the E&Y Entrepreneur of The
Year 2013.
Air Asia India is a joint venture of Malaysian carrier AirAsia, Tata Sons and Telestra Trade Place. It is a
$30- million deal.
Womens World Twenty 20 is starting in March 2014 in Bangladesh.
The Reserve Bank of India has extended the date for exchanging all bank notes that were issued prior
to 2005 to January 1, 2015.
Whats App - Facebooks $ 19- billion acquisition
Rupee depreciated to a record low of 68.85 against the dollar on August 28.
Rafael Nadal win the Rio Open.
Deng Xiaoping pioneered economic reform and opened China up to the world.
USFDA banned import of products from the Ranbaxys Toansa plant last month.
Pact with Russia on Kundankulam III & units soon.
Dinesh K Sarraf appointed the new head of ONGC.

Ibrahim Mahlab was sworn in as new Egypt Prime Minister.
Manoj Vaish took charge as the MD and CEO of Multi Commodity Exchange of India Ltd.
Poonam Khetrapal Singh took charge as the Regional Director of World Health Organisation South-East
Asia Region.
WWF (World Wide Fund for Nature)
R.K.Tiwari appointed as the new chairman of Central Board of Direct Taxes.
Chandi Prasad Bhatt, the noted environmentalist won the Gandhi Peace Prize for the year 2013. Bhatt
was one of the pioneers of the Chipko movement.
International Gandhi Award for the year 2013 was presented to Dr. Vijaykumar Vinayak Dongre (VV
Dongre) and Prof. Guocheng Zhang
Arunima Sinha received Amazing Indian Award. She was awarded for scaling Mount Everest despite
being physically challenged.
Vishwanath Tripathi, the eminent Hindi writer has been selected for the prestigious Vyas Samman for
the year 2013. He has been chosen for his memoir 'Vyomkesh Darvesh'
Bharat Ratna, the highest civilian honour was conferred on cricket maestro Sachin Tendulkar and
eminent scientist Prof CNR Rao. Rao is recognized international authority on solid state and materials
chemistry.
India was ranked 8th in the list of ten countries in terms of digital governance. The list was topped by
Singapore.
G-4 members are Brazil, Germany, India and Japan.
Music album entitled Raunaq is based on the songs composed by music maestro AR Rahman
IRCTC launched E-Wallet Scheme to make payment process fast
The annual G20 summit will be held in November 2014 in Brisbane.
Japan-based Mt Gox, which was the world's largest bitcoin exchange, filed for bankruptcy.
Mukesh Ambani is the country's richest man . Globlal list is topped by Bill Gates.
Government increased the workdays under MNREGA from 100 to 150 for tribals
Employees Provident Fund Organisation endorsed an amendment to the EPF Act to hike the wage
ceiling for mandatory PF coverage to Rs 15,000 per month from Rs 6,500 and guarantee a minimum
pension of Rs 1,000 per month.
Uttar Pradesh had the highest number of poor people living below the poverty line.
At present India have 27 public sector banks, 22 private sector banks and 56 regional rural banks.
RBI has removed the 26% cap on the interest rate that a microfinance company can charge its
borrowers. RBI has said that MFIs can arrive at their lending rate by calculating their cost of funds and
adding the prescribed margin.
The family of the late Chief Justice of India, Justice J.S. Verma, has declined to accept the Padma
Bhushan conferred on him.
Microsoft ends support for its popular Windows XP operating system on April 8.
Facebook celebrates its 10th anniversary.
South Africa President is Jacob Zuma
Civil service aspirants will soon get two additional attempts at cracking the UPSC examination along
with a relaxation in the upper age limit.
Congress MP from Vijayawada, L. Rajagopal used a can of pepper spray inside the Lok Sabha to protest
against the tabling of the Andhra Pradesh Reorganisation Bill.
Securities and Exchange Board of India will hike the minimum net worth requirement for asset
management companies (AMCs) from Rs.10 crore to Rs.50 crore.
The Union Ministry of Tourism has declared Sikkim the best State in the implementation of rural
tourism projects.
Iran and the five permanent members of the U.N .Security Council plus Germany began talks in Vienna
on reaching a comprehensive nuclear deal.
About 10 per cent of the voters during this Lok Sabha election were likely to be first-time voters
Sudipta Sen the chairman and managing director of the Saradha Group was involved in a massive Ponzi
scheme scam
Popular music director Bappi Lahiri has been appointed the goodwill ambassador of Unesco Nepals
Education For All
Bharatiya Mahila Bank (BMB) signed a memorandum of understanding (MoU) with New India
Assurance Company to deliver three unique innovative health insurance policies for women account
holders of the bank. The policies BMB Sakhee, BMB-Nirbhaya and BMB-Parivar Suraksha provide
customised health insurance package for women.
130-MW solar power plant was started at Bhagwanpur in Madhya Pradesh. This is the largest solar
power plant in India.
GK today
Scientists of the Jilin University, china have invented a printer that uses water to print, instead of ink.
After about 22 hours, the paper fades back to a plain sheet of white paper, allowing it to be re- used. It
uses a dye compound called oxazolidine.
The 56
th
annual grammy awards.
o Category Album Artist
o Best album of the year Random access memories Daft Punk
o Best song of the year Royals Lorde
Global Intellectual Property Centre (GIPC) International IP Index ranked India lowest amongst the
countries assessed for protection and enforcement of Intellectual Property Practices. US topped the list
Uniform Tax Rate for Foreign Portfolio Investors
o The Central board of Direct taxes notified that the new classes of investors, FPIs, would be
treated as FIIs. As per their risk profiles, FPIs are divided into three categories.
Category I the lowest risk entities comprises foreign government and government-
related foreign investors.
Category II regulated entities such as university funds and pension funds etc.
Category III other entities viz. Qualified Foreign Investors (QFIS) etc.
o FPIs brought together all the three investment categories Foreign Institutional Investors
(FIIs), their sub-accounts and Qualified Foreign Investors (QFIs).
o The new system would be especially beneficial for QFIs, who were subjected to higher tax
rate earlier.
o The new class would be given a permanent registration, as against the current practice of
granting approval for one year or five years to invest in Indian Markets.
o There would be no deduction of tax at source on income earned by way of capital gains by
FPIs.
The Union Ministry of Rural development signed a memorandum of Understanding (MoU) with Digital
Green (Microsoft Research Project)
o Under the National Rural Livelihood Mission (NRLM).
o Idea is to document best agricultural practices and disseminate this to rural areas
TCS set to replace Genpact as top BPO
ODI series defeat of India against New Zealand
o New Zealand won the series by 4-0
Internet and Mobile Association of India -IAMAI
Ms. Kiwi Kathy Cross: First Woman in ICC umpires panel
Founder of Super 30 classes Mr. Anand Kumar bestowed with the prestigious 2014 Ramanujan
Mathematics Award
o Super 30 imparts free residential mentoring to 30 selected students from underprivileged
families for IIT entrance exam
India has overtaken Japan as the worlds third-biggest crude oil importer. China and USA are no. 1 and
2
Mumbai monorail
o The project executed by a consortium consisting Larsen and Toubro ltd (L and T).
o A monorail is a raii- based transportation system based on a single rail, which acts as its sole
support and its guide way.
o India joined the elite group of countries viz. the U.S. Germany, China, Japan Australia and
Malaysia that monorails.
At present, chinas new air defense zone over the east china sea is creating tensions in the worlds most
geo- politically sensitive areas that includes the disputed diaoyu or senkaku islands in the east china
sea, which are controlled by japan and but claimed by china, and the submerged leodo reef, which is
under south Koreas control.
Net NPA = Gross NPA (balance in interest suspense account + DICGC/ECGC claims received and held
pending adjustment + part payment received and kept in suspense account+ total provisions held).
IRDA set up a panel to review the 12 non- legislative recommendations made by the financial
legislative reforms commission (FSLRC).
The Paris- based financial action task force( FATF) released an international report on money
laundering and terrorist financing of the diamond pipeline
o China and India are major markets where diamond trade is done on a large scale.
Ms. Silverine Swer: Meghalayas first Padma Shri Awardee, passed away
National Mission on Libraries (NML) an initiative of the ministry of culture, launched
Satya Nadella - Played a major role in Microsofts transition to the cloud
Bill gates resume role of Founder and technology adviser of Microsoft.
John Thompson appointed as the new Chairman of Microsoft
As per recent poll conducted by the Times, Mr. Bill Gates is the most admired person on Earth.
Bill and Melinda Gates Foundation (B&MGF or the Gates Foundation): founded by Bill Gates
India would soon join, as an associate member, the European Organization for Nuclear Research, CERN,
where international projects such as the research on God particle was going on.
Yahoo is the second-largest email service worldwide, after Googles Gmail
In a poll coducted by magazine Holiwood Buzz, Monica Bellucci, Kate Upton, Angelina Jolie and
Aishwarya Rai are 4 top beautiful women on earth in that order
Prof C.N.R.Rao is the third scientist after C V Raman and A P J Abdul Kalam, to be awarded with the
honor of Bharat Ratan. Pandit Bhimsen Joshi is the last recipient in 2008.
The Central Government constitutes 7
th
Pay Commission under the chairmanship of Mr. Ashok Kumar
Mathur
o The Central Government constitutes pay Commission almost every ten years.
o The 6
th
Central pay Commission was under the Chairmanship of B.N. Srikrishna
In order to utilize and harness the benefits of Cloud Computing, the Central Government has embarked
upon an ambitious initiative GI Cloud which has been named as MeghRaj.
RGGVY (Rajiv Gandhi Grameen Vidyutikaran Yojan)
o commissioned by Rural Electrification Corporation
o empowered the rural women.
o Un-electrified villages have been electrified across the country.
Indian Gold Loan Company, Muthoot Finance Ltd became the first and only Non-Banking Finance
Company (NBFC) to have obtained license for setting up WLAs in India.
o Non bank entities should have a minimum net worth of Rs 100 Crore & have to apply top
RBI for seeking approval.
o Every WLA operator is required to tie up with a sponsor bank, which takes care of cash
operations, dispute resolution and regulatory reporting aspects.
o The guidelines on five free transactions for using other bank ATMs would not be applicable
to transactions done on the WLAs.
The Union Government has allowed 26% foreign investment in insurance sector in activities related to
insurance viz. broking, Third Party Administrators (TPAs) and surveyors and permitted foreign
Institutional Investors (FIIs) and Non-Residents Indians (NRIs) to also invest in insurers.
Polaris Financial Technology announced the launch of its NACH-ready India payments solutions.
o NACH ready India Payments Solution are web-Based solution to facilitate inter-bank, high
volume electronic transactions that are repetitive and periodic in nature.
National automated Clearing House - NACH)
Next-Generation Real Time Gross Settlement - NGRTGS
Bezbaruah Committee: to address concerns of Northeastern people following outrage over the death in
Delhi of a 19 year old student from Arunanchal Pradesh
Indian CEOs leading major companies in the World
1. Microsoft Mr. Satya Nadella Chief Executive Officer
2. Mr. Lakshmi Mittal Chairman and CEO of Arcellor Mittal
3. Ms. Indra Nooyi chairperson & CEO of PepsiCo
4. Rakesh Kapoor CEO of Reckitt Benckiser, the consumer goods
5. Ajay Banga President and CEO, MasterCard
6. Shantanu Narayen President and CEO of Adobe Systems
7. Sanjay Mehrotra CEO of SanDisk
India and Germany Signed two Umbrella agreements for Financial and Technical co-operation
The pacts were signed during an official visit of German President Joachim Gauck.
World childrens prize (Childrens Nobel prize) Nominees 2014 are Malala, John wood and Indira
Ranamagar
Chip and PIN Cards
o With an aim to minimize frauds, RBI has mandated that Banks must adopt Aadhaar as
additional authentication or move to EMV (Euro pay MasterCard Visa) chip and pin
technology to ensure security in card-based payment transactions.
o The apex bank made it mandatory for debit card holders to punch in their PIN numbers
every time they use the card.
o A chip-and-PIN card is a plastic card of standard size. It has two chips a) An embedded chip
b) A traditional magnetic strip.
The Reserve Bank of India (RBI) released draft report on enabling Public Key Infrastructure (PKI) in
payment system applications.
o Public Key Infrastructure is set of software and hardware that enables net users to securely
exchange data and money by 2 cryptogenic passwords
o Public Key Infrastructure enabled electronic payment systems that has been introduced by
the RBI are RTGS, NEFT, CBLO, FOREX Clearing, Government Securities Clearing and
Cheque Truncation System (CTS).
o The issuing bank will need to convert the older credit or debit cards with the magstrip into
EMV chip and pin enabled ones.
o The banks may carry out PKI implementation in phases
o password-based two-factor authentication will be needed
The search giant, Google marked the anniversary of Sarojini Naidu with a doodle.
o The International Womens Day is observed and celebrated on March 8 every year.
o In India, National Womens Day observed on February 13 every year, in memory of date of
birth of Indias first women governor Sarojini Naidu.
o Ms. Naidu was also known as the Nightingale of India
Production of Maruti 800 stopped by Maruti Suzuki India Ltd (MSIL)
Dr. Marco Lambertini appointed as the Director General of World Wide Fund for Nature (WWF)
International.
Under the Portfolio Investment Scheme (PIS), Foreign Institutional Investors (FIIs), Non-Resident
Indians (NRIs), Persons of Indian Origin (PIOs) are allowed to invest in the primary and secondary
capital markets in India.
Sikkim: Indias first state to achieve 100% sanitation coverage under Nirmal Bharat Abhiyan scheme
o Ambassador of scheme is Bollywood Actress Vidya Balan.
o Nirmal Bharat Abhiyan (NBA)Mission is to eradicate the practice of open defecation
o Sikkim is Indias least populated and second smallest state in area after Goa.
Mukul Mudgal Committee is on IPL spot fixing scandal
Reserve Bank of India (RBI) imposed curbs on banks investing in their group companies.
o Fixed an aggregate group exposure limit for intra-group transactions at 20% for all financial
and non-financial entities taken together and limited 10% for non-financial and unregulated
entities.
The United States of America has challenged in WTO the domestic content requirement in Phase II of
Indias National Solar Mission (NSM),
o In the second phase of the Jawaharlal Nehru National Solar Mission (JNNSM), the
Government of India stated that it hadnt violated global trading norms under the World
Trade Organization (WTO
Ministry of New and Renewable Energy -MNRE
The Organization for Economic Cooperation and Development (OECD) has revealed a new mechanism
to combat the menace of offshore tax evasion i.e. automatic exchange of information
o Governments would automatically share information on taxpayers offshore bank and
brokerage accounts with foreign tax authorities.
o OECD is a Global economic body
The Union Ministry of Health and Family Welfare launched third-line drug therapy for people living
with HIV/AIDS
o The third-line therapy also known as salvage or rescue therapy
o For receiving free ART, the minimum CD4-count limit has been reduced from 500 to 350.
The count is a measure of the viral load.
o ART consists of the combination of at least three Anti-Retro Viral (ARV) drugs
Assam became the first state to legally ban consumption of all forms of smokeless tobacco, including
pan masala
Gross Fixed Capital Formation (GFCF) is an indicator of investment)
IIP in 2013-14
o Manufacturing: Expected to contract
o Mining and quarrying: Probably to contract
BSE launched Institutional Trading Platform (ITP) on SME
o It will facilitate capital raising by small and medium enterprises including start-up companies
o Will provide easier entry and exit options for investors viz. angel investors, venture capital
funds, and private equity players.
o The Eligibility Criteria for the company desirous of listing are
The paid up capital of the company has not exceeded 25 crore rupees in any of the
previous financial years.
The company has at least one full years audited financial statements
The Government of India (GOI) and Asian Development Bank (ADB) signed a $275 million loan
agreement to continue improving rural roads in many states. The loan represents the second tranche
of $800 million financing facility under the Rural Connectivity Investment Program (RCIP).
New Zealand won the two match Test Series against India by 1-0
o Brendon McCullum became New Zealands first triple-centurion
o India retained their second position in the ICC Test team rankings
o At present, South Africa is at the number-one position in the ICC Test team rankings
Union Government Okayed two plants to manufacture semiconductor chips
o The two electronic chip manufacturing units will be set up by:
1. Indias Jaiprakash Associates and IBM near the Yamuna Expressway in Uttar Pradesh.
2. France-based ST Microelectronics and HSMC Technologies (Hindustan Semiconductor
Manufacturing Corporation) at Prantij, Gujarat
o The most common semiconductor materials are Silicon (Si) and Germanium (Ge).
SEBI
o approved the new Corporate Governance norms
o Approved new KRA (KYC Registration Agency) Regulations that would make it easier for the
investors to comply with Know Your Client (KYC) requirements across various segments of
the capital markets.
o Also approved the long-term policy for mutual funds in India where the minimum capital
requirement for asset management companies (AMC) has been raised from Rs 10 crore to
Rs 50 crore.
o Proposed the government to allow the Employees Provident Fund Organization (EPFO) to
invest up to 15% of their corpus in equities and mutual funds.
o proposed to allow an income tax exemption under 80C of Rs 2 lakh for investments in select
mutual funds but the move would require government approval and an amendment of the
Income Tax Act.
Excerpts of new corporate governance norms
1. Restricted independent directors to serve as directors on a maximum of 7 listed companies
2. limited their total tenure to two terms of 5 years each.
3. The companies would also need to adopt a whistle-blower policy for employees
4. At least one woman director on the Board of the company.
5. Companies will have to disclose remuneration policies of CEOs and executive directors
o The new corporate governance norms will be effective from October 1, 2014 for all listed
companies
o These are based on recommendations made by the industrialist Adi Godrej committee.
Mount Kelud Volcano Erupts In Indonesia
Belgium became second country to allow Mercy Killing for Children after Netherlands
Other European countries that allow active euthanasia are Luxembourg and Switzerland
Top 2 players in the WTA Singles rankings are Serena Williams (United States) and Li Na (China)
International Mother Language Day observed on February 21 every year.
British Academy of Film and Television Arts (BAFTA) Headquarters is in London.
International Gandhi Award 2013
o For making outstanding contributions in the field of leprosy
Mr. Avinash Aruns directorial debut, the Marathi feature film Killa won the Crystal Bear (Glasernen
Bar) for the Best Film at the 64th Berlin International Film Festival
o Killa deals with the universal conflict of migration and how it impacts the lives of people,
especially children.
Purushottam Express will get first Braille signage coach in India
P.C. Chacko Committee: To recommend punitive measures for the pepper spray incident in the
Parliament. Mr. P C Chacko is chairman of the committee of privileges of Lok Sabha:
A book titled ModiNomics: Inclusive Economics, Inclusive Governance, by Sameer Kocchar
Duas Layer: Dr. Harminder Singh Dua, Indian origin UK doctor discovered new layer of cornea that can
help treat glaucoma.
NTPC will construct a 4,000 MW power project in Telangana to solve the electricity problem in the
region.
The Cabinet Committee on Economic Affairs (CCEA) gave its nod to the proposal to set up coal
regulator.
A book entitled Public Issues before Parliament authored by Mr. Vijay Darda (MP)
Bahrain King is Hamad bin Isa Al Khalifa.
Taj Mahotsav 2014
o Theme: Paigham-e Mohahabbat or the message of love.
o This is a 10 days long carnival
Government directs banks: Dont publish pics of education loan defaulters
ASI & Google jointly launched the 360 Degree Online View of Heritage Sites
Odia is 6
th
Indian classical language. Other classical languages are
1. Tamil
2. Sanskrit
3. Kannada
4. Telugu
5. Malayalam
6. Odiya
Sikkim: Best State in implementation of rural tourism projects
Patna Worlds longest free Wi-Fi Zone in India
o Stretched nearly 20 km
IMF projected Indias FY 15 growth at 5.4%
Government uses CPI-IW data of the past 12 months to arrive at a quantum for the purpose of any DA
hike.
Sochi 2014: Russia topped Medal table as Winter Olympics came to an end
SOMAH Solution to preserve donated organs; developed by Indian origin doctor Dr. Hemant Thatte
o SOMAH Solution in Sanskrit means elixir of immortality.
o The new preservative that is a mixture of 21 chemicals has the potential to store the heart
(and other organs) for up to 7 days.
Mr. Rishang Keishing: Indias oldest Parliamentarian retired after serving seven decades
E-wallet Scheme
o Launched by IRCTC
o Available for PAN verified users only.
ATP Delhi open: Somdev Devvarman wins singles title
Ms Lakshmi Swaminathan: First Indian President of Administrative Tribunal of the Asian Development
Bank (ADB)
The Indian arm of US retailer Target called Target India has launched its Target Accelerator
Programme in Bangalore
o Targets program is designed to help early-stage startups
o Five startups have been shortlisted in the first batch of Target Accelerator Programme (TAP)
Samsung launched second generation Gear smart watches powered by Tizen operating system
1322- security helpline number launched by Northern Railway for passengers
Water, Peace and War Confronting the Global Water Crisis authored by Mr. Brahma Chellaney.