Current Affairs India - 28 November 2013

1. The Reserve Bank of India has relaxed norms for participation of Non-Banking Finance Companies - NBFCs in insurance joint ventures. RBI said in a notification today that it will allow NBFCs to invest more than 50% of their total equity in insurance joint ventures but on a case to case basis. The notification adds that the relaxation will also be subject to compliance by the NBFC with all other regulatory conditions. As per existing norms, an NBFC cannot hold more than 50% of the paid-up capital of an insurance joint venture.

2. The Telecom Regulatory Authority of India (TRAI), on Wednesday, released the tariff structure and guidelines for mobile banking services, a step that would help rural customers who do not have access to banks and financial services. The TRAI has prescribed a ceiling tariff for an outgoing unstructured supplementary service data (USSD)-based mobile banking service at Rs.1.50 per USSD session. The authority wants to utilise the benefits of mobile banking for financial inclusion. A large section of the population, especially in rural areas, does not have an easy access to banks.

3. Maharashtra batsman Vijay Zol has been named captain of the India Under-19 squad for the ACC Asia Cup cricket tournament, which will be played in the UAE next month. Kerala wicket-keeper Sanju Vishwanadh has been appointed as Vice-Captain for the series. India will open their campaign against the hosts, UAE, on December 28.

4. The 8-member squad for the upcoming FIH junior hockey World Cup tournament has been announced. Manpreet Singh has been named captain of the junior hockey team. The Junior Hockey world Cup is scheduled from December 6-15 in New Delhi.

5. Indian lifters bag 87 medals at C'wealth Championships. Youth Asian Games champion Ragala Venkat Rahul (77kg) stole the show with half a dozen gold medals as India signed off with a whopping 87 medals at the Commonwealth Youth and Junior Championships which concluded in Penang, Malaysia today. In the senior men's division, Sivalingam Sathish Kumar (77kg) won three gold medals. India signed off with an overall tally of 47 gold, 28 silver and 12 bronze medals at the event.