Current Affairs India - 28 February 2014

1. National Science Day is observed today (28th February) across the nation to mark the discovery of the Raman Effect by Indian physicist Chandrasekhara Venkata Raman (CV Raman) on 28 February 1928. This day is celebrated every year on this day to spread a message about the significance of scientific applications in the daily life of the people. The theme for 2014 is -Fostering Scientific Temper and Energy conservation-.

2. The Union Cabinet has recommended imposition of President's rule in Andhra Pradesh today. Kiran Kumar Reddy has resigned as Andhra Pradesh Chief Minister protesting creation of Telengana state earlier this month and the state has been without a Chief Minister since then. The Cabinet also hiked poll expenditure ceiling from the present 40 lakh to 70 lakh rupees for candidates in the Lok Sabha elections.

The Cabinet has also approved additional dearness allowance, DA, of 10% to make total DA as 100% which will be effective from 1st January 2014. The hike will benefit 50 lakh Central government employees and 30 lakh pensioners. The Cabinet approved minimum pension of Rs 1000 per month under the Employees Provident Fund Organisation, EPFO.

At the same time, the Cabinet approved setting up a new rail coach manufacturing unit at Kolar, in Karnataka to manufacture 500 coaches per annum. It approved financial support of 434 crore rupees for establishing four new National Institutes of Design at Jorhat , Bhopal, Vijayawada and Kurukshetra.

3. Union Finance Minister P. Chidambaram inaugurated India-s first post office savings bank ATM at the Head Post Office in Thyagaraya Nagar, Chennai on 27th February. The ATM was launched as a part of an Information Technology (IT) modernisation project of the Department of Posts in order to boost its core banking network and prepare itself to get banking license. India Post is one of the main contenders which all have applied for banking licenses.

4. Sahara India head Subrata Roy has surrendered to the UP police today after Supreme Court issued non-bailable warrant for his failure to appear before it in a case of non-refund of Rs 20,000 crore to investors. His main counsel Ram Jethmalani told a Bench headed by Justice KS Radhakrishnan that 65-year-old Roy is in police custody and also requested for bail. But Justice Radhakrishnan, who sat with Justice Vikramajit Sen, however, said that it is not possible for the Special Bench to assemble today.

5. General Motors India has appointed Arvind Saxena as its President and Managing Director, effective from 1st March 2014. He succeeds Lowell Paddock, who is moving to GM International Operations (GMIO) as Vice-President, Planning & Programme Management. Before this appointment, He was Managing Director of Passenger Cars (VW brands) and a director of Volkswagen Group Sales India.