Current Affairs India - 11 February 2013

1. Finance Minister P Chidambaram has launched the much-awaited Rajiv Gandhi Equity Savings (RGESS) Scheme in Mumbai for the first time equity investors to encourage investment in equity market. Under the scheme, a first time equity investor with an income of less than 10 lakh rupees would get tax incentives on 50% of investment value for investing up to 50,000 rupees in the stock market. He has also promised to make the scheme more attractive in the upcoming budget later this month.

2. Third Indian national stock exchange, MCX Stock Exchange (MCX-SX) has begun trading in equities and equity derivatives from today. With its 40-stock index named SX40, MCX-SX is the third full-fledged equity bourse after BSE and NSE. The bourse was formally launched by Finance Minister P Chidambaram on Saturday.

SX40 will be a free-float based index of large-cap and liquid stocks from different sectors. The base value will be 10,000 with a base date of March 31, 2010. The index allows fast entry for companies with better free float, market cap and liquidity.

3. Rest of India once again won the Irani Cup after defeating Mumbai team  because of huge 117-run first-innings lead over Mumbai at Wankhede stadium yesterday. Rest of India won the Irani Cup for the eight consecutive times in a row.

4. India-s Sitar Legend, Pandit Ravi Shankar was honoured with the posthumous Lifetime Achievement Grammy award. His daughters accepted the award on his behalf last weekend ahead of the Grammy-s show that took place in Los Angeles on 10 February 2013. His daughters Anoushka Shankar and Norah Jones attended the pre-Grammy ceremony at the Wilshire Ebell Theatre for accepting the honour.

5. Ranchi Rhinos defeated Delhi Waveriders by 2-1 to win the inaugural Hockey India League (HIL) in the final match at Astroturf Hockey Stadium in Ranchi yesterday. Ranchi Rhinos won cash rewards of Rs 2.5 crore and Runners-up Delhi Waveriders win cash rewards of Rs 1.25 crore.

6. Uttar Pradesh Wizards defeated Jaypee Punjab Warriors by 4-3 to finish at third position in the inaugural Hockey India League (HIL) yesterday. Captain V R Raghunath scored four goals including a hat-trick to secure Uttar Pradesh Wizards- win.