Current Affairs India - 25 May 2014

1. T R Zeliang was sworn in as the 16th chief minister of Nagaland yesterday. He succeeded Neiphiu Rio who resigned from the post following his win in the Lok Sabha elections. Governor Ashwani Kumar administered the oath of office and secrecy to Zeliang and 11 other cabinet ministers at Raj Bhavan.

2. In a major setback to the Aam Aadmi Party (AAP), a key founder member Shazia Ilmi and Capt. G.R Gopinath quit the party this week. Shazia Ilmi quit the party citing -lack of inner party democracy- while Capt. G.R Gopinath also made an announcement to quit the Aam Aadmi Party.

Shazia Ilmi, who contested and lost the Delhi Assembly election as well as the recent Lok Sabha election from Ghaziabad, blamed a -clique that had encircled Kejriwal- for her decision to quit.

3. Kathleen Stephens has been named the new interim US Ambassador to India after retirement of previous US Ambassador Nancy Powell as President Barack Obama is yet to nominate a diplomat for this important post. He will serve as the charge until a new permanent ambassador is nominated and confirmed by the US Senate

4. A 14-year old girl from Andhra Pradesh, Poorna has become the youngest woman to climb Mount Everest, the highest peak in the world. She was accompanied by Anand and they carried photographs of BR Ambedkar and former IAS officer SR Sankaran to the top of the world.

In November last year, Poorna and Anand were among a dozen teenagers, who became the youngest group to climb Mount Renock.

5. The Reserve Bank of India (RBI) eased the gold import norms under the 20: 80 Scheme this week. Under the 20:80 Scheme, Star trading houses and premier trading houses, which are registered as nominated agencies by the Directorate General of Foreign Trade (DGFT) now can import gold.

This move will increase the number of institutions which imports gold will increase supply of gold in the domestic market which will also help to reduce price. Earlier it had imposed several measures to curb gold import in order to improve current account deficit.

6. Steel Authority of India Ltd (SAIL) Chairman C S Verma has been awarded with the -CEO of the Year- at the 2014 Platts Global Metals Awards. The award was presented to him in recognition of a comprehensive leadership style demonstrated by him to place SAIL on the path of robust growth in spite of price volatility and increased competition.

Verma received the award in London on 21st May. He became SAIL-s Chairman in 2010, he has displayed visionary, passionate and tenacious leadership in steering the company of over one lakh employees.

7. India-s 2nd largest smartphone player, Micromax has appointed Vineet Taneja as its new Chief Executive Officer. He was the Country Head for IT & Mobile businesses of Samsung India till recently. The step matches with the vision and commitment of Micromax Co-founders to bring in the best talent from the industry to lead the company in order to build a strong organization.

8. Micromax said that Vineet will focus on consolidating Micromax-s strong presence in the market, driving global partnerships and strategic alliances while strengthening the organizational capabilities within Micromax.

9. Production of India-s first homemade car, Ambassador, has been halted by Hindustan Motors at its plant in Kolkata due to weak demand and financing problems. Modelled on the Morris Oxford it went into production in 1957.

It was once the only car driven by politicians and government officials. But the company managed to sell only 2200 Ambassadors in last financial year 2013-14. The suspension of work will help the company to restructure its increasing liabilities and finances though analysts are not optimistic about the car's future. It may be the end of the iconic brand.

10. Ace shuttlers Saina Nehwal and P V Sindhu had to settle with Bronze medal at the World Women's Team Championship for the Uber Cup after they were defeated 2-3 by five-time champions Japan in its maiden semifinals appearance in the Uber Cup in New Delhi. With this Indian women's badminton team created history by ensuring a bronze medal finish at the World Women's Team Championship for the Uber Cup.