Current Affairs India - 12 April 2014

1. Justice Rajendra Mal Lodha has been appointed as the next Chief Justice of India and he will assume charge on 27th April when incumbent Chief Justice of India P Sathasivam retires. Justice Lodha (64) is the most senior judge of the Supreme Court after CJI P Sathasivam. He will have a brief tenure of five months as CJI as he is scheduled to retire on 27th September this year. 

He was sworn in as Chief Justice of the Patna High Court on in May 2008 and elevated as a Judge of the Supreme Court on in December 2008.

2. The Interim President of BCCI-IPL Sunil Gavaskar has appointed HDFC Chairman Deepak Parekh as his special advisor for the seventh edition of the Indian Premier League yesterday. He will be a special invitee during the IPL governing council meeting as his vast expertise in financial affairs will enable Gavaskar to ensure smooth functioning of IPL affairs for the next two months.

Earlier, former India opener Gavaskar was appointed the interim president of the BCCI-IPL following a direction from Supreme Court as N Srinivasan was asked to step aside from his post pending the completion of the IPL spot-fixing enquiry. Senior Vice President Shivlal Yadav was made interim President for non-IPL matters.

3. India successfully test fired its indigenously developed nuclear-capable Agni-I ballistic missile with strike range of 700 km from a test range off Odisha coast on yesterday night as part of a user trial by the Army. The key aim was to test its success at night.

The DRDO-developed medium-range ballistic missile from the production lot was launched as part of a regular training exercise by the Army. The Agni-I missile has a specialized navigation system which ensures it reaches the target with a high degree of accuracy and precision.

4. India lead list of counties in terms of global remittances in the year 2013 with USD 70 billion, including USD 65 billion which were earned from the software services exports, as per the data released by the World Bank reported. China stood second with USD 60 billion remittances.

In its latest issue of the Migration and Development Brief, the World Bank said remittance flows to developing countries will be an increase of 7.8% in 2014 compared to USD 404 billion in 2013 which will rise to USD 516 billion in 2016.

5. Famous Poet, Director and Lyricist Gulzar has been chosen for the prestigious Dadasaheb Phalke Award for the year 2013.  He has spent over five decades in Hindi film industry and directed famous movies like including Aandhi, Maachis, Mausam, Koshish, Parichay etc.

He was earlier awarded the Sahitya Akademi Award in 2002 and the Padma Bhushan in 2004. He has won a number of National Film Awards and 20 Filmfare Awards. He won the Academy Award for Best Original Song for "Jai Ho" (shared with A.R.Rahman), for the film Slumdog Millionaire at the 81st Academy Awards and so won Grammy Award in the category of Grammy Award for Best Song Written for a Motion Picture for the same song.

6. The queen of Britain conferred the rank of Knight Commander of the Most Excellent Order of the British Empire (KBE) on former chairman of the Tata group, Ratan Tata on 10th April. This honour is one of the highest honours given by the queen to civilians.

Ratan Tata was given the honour for his services to UK-India relations, investment in the UK and his philanthropy services.

7. Global rating agency Fitch has reaffirmed India-s BBB- investment grade rating with a stable outlook due to India-s higher growth compared to other emerging economies except China. A policy push that includes structural and governance reforms, fiscal consolidation and efforts to rein in inflationary pressures would likely require a coherent coalition with a strong electoral mandate. Fitch also forecasts real GDP growth to rise from 4.7% in the fiscal year 2013-14 to 5.5% in FY2014-15 and 6% in FY2015-16.

8. Global Telecom giant Vodafone has announced that it now owns 100% of its Indian subsidiary, Vodafone India Limited ("VIL") after buying out stocks held by Analjit Singh, Neelu Analjit Singh and Piramal Enterprises Limited. Recently Vodafone acquired 10.97% of VIL from Piramal Enterprises Limited which completes full ownership of the Indian arm.

The Foreign Investment Promotion Board had earlier approved both acquisitions on in February 2014, after getting necessary approval of the Cabinet Committee on Economic Affairs.

9. State Bank of India (SBI) launched its Twitter handle account yesterday in order to increase its social media presence and improve digital marketing activities after launching accounts on Facebook and Youtube earlier. The Twitter handle for SBI is TheOfficialSBI. The bank expects this Twitter handle to connect better with the tech-savvy young generation.

10. Indian shooter Manavjit Singh Sandhu, the Rajiv Gandhi Khel Ratna Awardee, won the gold in the trap event by defeating Australia's two-time Olympic gold medallist Michael Diamond at the ISSF Shotgun World Cup. Manavjit shot the scores of 121 and 13 in the qualification and finals, to win the Gold Medal. He also won the 2006 World Championships apart from winnings the gold at the 2010 World Cup in Mexico.