Current Affairs India - 16 December 2014

1. The Union Government banned Islamic State of Iraq and Syria (ISIS) today after an engineer was detained for running a Twitter account for ISIS which praised the militant group-s military campaign. The aim of the ban is to limit the activities of the West Asia group in this country.

Home minister Rajnath Singh told in the parliament that the government aimed to limit the activities of the group in the country.  "We had taken cognisance of Islamic State in Iraq and Syria activities in other countries," he said. "As a first step we have banned this outfit in India."

2. The Indian Railways- official website, IRCTC, was ranked as the most searched website in Google by people in India in 2014, as per the list of most searched and trending words published by Google. E-commerce website Flipkart, PSU lender SBI Online, e-tailer Snapdeal and PNR status were other most searched words, as per the same list.

3. The Europe-based ARC Ratings SA (ARC) has assigned India -BBB+- sovereign rating with -stable- outlook which is an investment grade rating. In its maiden sovereign rating assignment, ARC has assigned -BBB+- (stable outlook) long-term foreign currency issuer rating to India. It has also assigned -A-- (stable outlook) long-term local currency issuer to the country.

Global credit rating agencies, Standard & Poor-s and Fitch have a -BBB-- (stable outlook) which is the lowest investment grade rating on India. Moody-s has also assigned lowest investment grade rating of -Baa3- with stable outlook for India.

4. Indian PSU CompanyIndian Oil Corporationhas been ranked as the largest Indian company in terms of revenue, as per Fortune 500 list of Indian companies for 2014 published yesterday. Indian Oil Corporation was followed by Reliance Industries and Bharat Petroleum in the second and third place respectively.

Indian Oil Corp (IOC) was ranked at No 1 position with an annual revenue of Rs 5,00,973 crore, while Reliance Industries Ltd's (RIL) full-year revenue stood at Rs 4,44,021 crore. Other Indian Companies in the top 10 list include HPCL (4th) Tata Motors (5th), State Bank of India (6th), ONGC (7th), Tata Steel (8th), Essar Oil (9th) and Hindalco Industries (10th).

5. Garment company, Arvind Limited has been awarded with the National Energy Conservation Award 2014 by the Ministry of Power, Government of India on 14th December. It was ranked at No 1 position among 70 textiles players scrutinized by the Ministry of Power on the National Energy Conservation Day on December 14. Arvind achieved nearly 22% reduction in specific consumption in thermal energy and 18% reduction in power usage from last financial year.

6. Tata-Singapore Airlines (SIA) joint venture airline Vistara was granted flying permit in the country by aviation regulator Directorate General of Civil Aviation (DGCA). This approval will allow the new start-up airlines to start operations in India. Tata Sons and SIA announced the joint venture in September 2013.

7. Indian rupee drooped below 63 mark for the first time since January as Indian Rupee continues to depreciate. The currency fell to a low of 63.54 today which is also lowest since September 2013.

8. Former World Chess Champion Viswanathan Anand won his maiden London Classic Chess title after defeating British Grandmaster Michael Adams in the fifth and final round.Recently he lost to Magnus Carlsen of Norway in the world championship match held at Sochi last month.