June 2013 Current Affairs list

2 June


Current Affairs India - 2 June 2013


1. Infosys has announced that the company's board has appointed founder and former CEO and Chairman N R Narayana Murthy as Executive Chairman of the Board and Additional Director with effect from 1st June, 2013 as the company continues to lose market share to its competitors. He will set up a chairman-s office to look after the strategy and business overall and he will also be assisted by his son Rohan Murthy. K V Kamath would step down from his position as Chairman of the Board and take up the position of Lead Independent Director effective 1st June, 2013.


2. Avinash Chander, has been appointed as the new Scientific Adviser to the Defence Minister and Director-General of Defence Research and Development Organisation (DRDO) yesterday. He will also hold the post of Secretary, Department of Defence Research and Development. He succeeds V. K. Saraswat, whose term ended on 31st May. Dr. Chander, who was recently awarded Padma Shri, was behind the successful development of 5000-km range Agni-V, enabling the nation to join the elite club of five advanced nations. Development of Agni missiles in highly restrictive international control regimes was possible only out of his technology, perspective planning and efforts


3. Indian Air Force (AIF) has formally inducted Pilatus, PC 7 Mk II aircraft which was inducted by Jitendra Singh MoS, Defence at IAF-s premier Academy located at Dundigal, Hyderabad. This marked the first formal flight of the Basic Trainer Aircraft.


4. Board of Control for Cricket in India (BCCI) president N Srinivasan resigned as BCCI president and Jagmohan Dalmiya has been appointed as "interim president" today following the spot-fixing scandal that shocked the Indian Cricket fans recently. Dalmiya, a former BCCI and International Cricket Council (ICC) chief, is currently the president of the Cricket Association of Bengal (CAB).


5. Rajeev Shukla resigned as Chairman of IPL yesterday due to IPL spot fixing scandal. The resignation of Shukla came just one day before the emergency meeting of the BCCI working committee that was held today.  He is an Indian journalist, political commentator, television host and the Minister of State for Parliamentary Affairs and Planning, Government of India. He is also a Member of Parliament since 2000.


3 June


Current Affairs Global - 3 June 2013


1. Palestinian Authority President Mahmoud Abbas has appointed a new Prime Minister Rami Hamdallah. He replaces Mr Fayyad who stepped down in April following a long-running and bitter dispute with the president. He has been president of An Najah National University since 1998 and has no prior government experience.


2. Egypt-s highest court, the Supreme Constitutional Court (SCC) has delivered its judgment on the legitimacy of the Shura Council yesterday; historically a powerless upper house which was given legislative powers last year after parliament was dissolved. The Supreme Constitutional Court ruled that the laws governing the election of members of the Islamist-dominated Shura Council and the constitutional panel were illegal. But the court said the Shura would only be dissolved after new elections.


3. German football club Bayern Munich defeated Stuttgart by 3-2 in the German cup final to win the German cup in Berlin. It was Jupp Henycke-s last match as coach. With this win, it became the first German team to win the Bundesliga title, German Cup and UEFA Champions League in the same season.


Current Affairs India - 3 June 2013


1. Sudha Sharma, 1976 batch IRS Officer, has been appointed as the new Chairperson of the Central Board of Direct Taxes (CBDT). She replaces Poonam Kishore Saxena who retired on 31 May. She was serving as member (legislation and computerization) in CBDT. The CBDT is a part of Department of Revenue in the Ministry of Finance and it is a statutory authority functioning under the Central Board of Revenue Act, 1963.


2. The government has appointed Thomas Mathew as the new chairman of Life Insurance Corp of India. He holds the position of managing director in LIC since 2006. Mathew has a nearly 30 years of professional experience in the life insurance sector  and is the senior most person in the government entity after D K Mehrotra, who retired on 31 May. After his elevation, the government has also appointed S K Roy as another managing director of LIC.


3. S. Ravind has been appointed as Director of the Bangalore-based Electronics & Radar Development Establishment (LRDE), a unit of the Defence Research and Development Organization. He replaces Varadarajan who superannuated on May 31.


He started his career as a Junior Scientific Officer in the Defence Electronics Research Laboratory, Hyderabad, and later joined LRDE. According to a DRDO statement, Ravind was involved in the design and development of INDRA I and INDRA II radars, first phase Array Radar, Rajendra Radar and the Akash Weapon System.


4. The Congress Party has appointed Charan Das Mahant, the MP from Korba, as the new party chief in Chhattisgarh, days after its state president, Nand Kumar Patel, was killed in a Maoist attack during the party's "Partivartan Yatra" last month. Senior tribal leader Mahendra Karma, former legislator Uday Mudaliyar and many others were also killed in the attack.


5. P. Nanda Kumaran, Managing Director, State Bank of Travancore (SBT), retired from service last Friday. Sajeev Krishnan, Chief General Manager, will hold charge of the office of Managing Director for the time being.


6. The Reserve Bank has clarified some of the queries related to new bank licenses. It said in- principle approval for setting up of new banks will now be valid for 18 months, up from earlier proposed one year. The companies which would be eligible to apply must have a public shareholding of at least 51%.


It further said only non-financial services companies and non-operative financial holding companies in the promoter Group would be allowed to hold shares in the holding company. Those seeking to set up a bank will have to submit applications by July 1, 2013. The RBI will display names of applicants on its Website.


7. The Union government of India has increased the import tariff value of gold to USD 459 per 10 grams, while it was reduced to USD 737 per kg for silver imports. The tariff value of gold was at 440 dollars per 10 grams and silver at 761 dollars per kg in the previous month of May. This move has been taken to reduce overall Gold imports by India in order to tackle with rising current account deficits.


India-s FDI inflows dropped by 38% to USD 22.4 billion in 2012-13


India-s FDI inflows dropped by 38% to USD 22.42 billion in the previous financial year 2012-13 compared to the previous financial year. FDI inflows stood at USD 35.12 billion in 2011-12. It shows that Government's efforts to promote India as an investment destination did not provide much result in the previous financial year. The government had taken several policy decisions reverently to attract more FDI including allowing FDI in multi brand retail and domestic aviation sectors, increasing FDI cap for single brand retail etc.


Record low economic growth, very high current account deficit, depreciating rupee and political issues are the main reasons behind lower FDI inflow. The adverse macro-economic conditions have affected the investors- confidence which also affected the FDI inflows in previous financial year.


Sectors which received large FDI inflows during 2012-13 are services (USD 4.83 billion), hotel and tourism (USD 3.25 billion), metallurgical (USD 1.46 billion), construction (USD 1.33 billion), automobiles (USD 1.53 billion) and Pharmaceuticals (USD 1.12 billion). India received maximum FDI from Mauritius (USD 9.49 billion), followed by UK (USD 7.87 billion), Singapore (USD 5.25 billion), Japan (USD 2.97 billion) and United States (USD 1.11 billion).


India-s Core sector growth drops to 2.3% in April; Need immediate actions by RBI


India-s core sector, consisting of eight core industries crude oil, natural gas, fertilizer, coal, steel, cement , electricity and petroleum refinery, growth slowed down to 2.3% in April compared to 5.7% growth recorded in the same month last year. It is lower than revised 3.2% growth in the previous month. Core sector has a 37.9% weight in the index of industrial production (IIP) and it will affect the IIP number also which will be published next week.


Crude Oil, natural gas and fertilizer production dropped by 1.2%, 17.4% and 2.4% respectively in April, 2013 compared to 1.4%, 11.3% and 9.3% drop respectively in April, 2012. Coal, petroleum refinery, steel, cement and electricity production increased by 3.1%, 5.6%, 1.9%, 8.3% and 3.1% respectively in April 2013 compared to 5.9%, 20.8%, 2.3%, 12.5% and 5.4% growth respectively in the same month last year. Industrial output rose by just 1% in 2012-13.


Lower growth with decade low of yearly GDP growth ask for immediate rate cut by RBI in order to boost growth. RBI is expected to meet this month to announce monetary policy and its stance regarding the same, but due to high current account deficit and depreciating Indian rupee steep rate card does not seem to be possible now.


4 June


Current Affairs Global - 4 June 2013


1. The US has slapped new sanctions on Iran-s currency Rial and automobile sector of Iran. It is for the first time that the US has directly targeted the Iranian currency which has already depreciated significantly in recent times. The USA and Western economies have been imposing different sanctions in order to stop Iran from acquiring nuclear weapons.


2. The US trade deficit jumped by 8.5% to USD 40.3 billion compared to previous month of March due to more demand of foreign cars, imported goods and cell phones. Exports increased by 1.2% to USD 187.4 billion while imports grew by 2.4% to USD 227.7 billion in the same month. This report confirms the weak global economic growth continues to hurt its export and demand of US products.


3. Bangladesh Cricket Board (BCB) has suspended former Bangladesh captain Mohammad Ashraful today for his alleged involvement in match and spot fixing in Bangladesh Premier League this year. He will remain suspended till ICC-s Anti-Corruption and Security Unit (ACSU) submits a full report regarding all the allegations.


Current Affairs India - 4 June 2013


1. Delhi Police has invoked stringent provisions of Maharashtra Control of Organised Crime Act (MCOCA) against cricketer Sreesanth and 25 others arrested in connection with IPL spot-fixing scandal today as they were allegedly facilitating the illegal acts of underworld don Dawood Ibrahim and his aide Chhota Shakeel. MCOCA enables the police to seek further custodial interrogation of accused to unearth the organised syndicate in the case.  Also his bail plea was rejected by the court today.


2. Actor Vindoo Dara Singh and Chennai Super Kings (CSK) principal Gurunath Meiyappan, arrested in connection with the IPL spot-fixing and betting scandal, were granted bail today by a local court. Besides them, six bookies too were also granted the relief on the bond of Rs 25,000 each.


3. SBI Mutual Fund, the asset management company of SBI, has announced that it would acquire all the existing India- domiciled schemes of Daiwa Mutual Fund.  State Bank of India, SBI Mutual Fund Trustee Co Pvt Ltd and SBI Funds Management Pvt Ltd (sponsor, trustee and investment manager of SBI MF respectively) have reached an agreement with Daiwa Asset Management Company to take over all the schemes of Daiwa MF. Post this transaction, which is subject to regulatory approvals, all existing schemes of Daiwa MF will become schemes of SBI MF with existing investors coming into the fold of SBI MF.


4. Raghav Joneja has become the youngest Indian to scale Mount Everest at the age of 15, climbing the peak with five teenage mates from Lawrence School, Sanawar. Also, Lawrence became the first school in the world to send a team to the highest peak.


5. Bollywood actor Jiah Khan has committed suicide by hanging herself at her residence in Juhu, Mumbai yesterday night. She made her acting debut in Ram Gopal Varma-s Nishabd along with Amitabh Bachchan.


5 June


Current Affairs Global - 5 June 2013


1. World Environment Day was observed today (5th June). The theme for the year 2013 was -Think, Eat, Save-. It aims at an anti-food wastage and loss campaign to encourage people to reduce their food print. It also calls for more awareness about the environmental impact of the food choices people make and empowers them to make informed decisions. As per the UN Food and Agriculture Organisation (FAO), every year around 1.3 billion tonnes of food is wasted across the world. If the similar amount of food could be saved, it could serve the whole of sub-Saharan Africa.


2. PML-N chief Nawaz Sharif was formally elected as Pakistan's Prime Minister today by an overwhelming majority in the National Assembly. With this he will be Pakistan-s Prime Minister for the third time. PML-N received 244 votes in the 342-member lower house of parliament during the election conducted through a division of the House, as the result of the election was announced by Speaker Ayaz Sadiq.


3. Veteran PML-N leader Ayaz Sadiq was elected Speaker of Pakistan-s National Assembly on Monday with majority of votes. He won 258 of the 313 votes that were cast in the election of the Speaker in the lower house of parliament and defeated Shaheryar Afridi of the Pakistan Tehrik-e-Insaf (got only 31 votes) and S.A. Iqbal Qadri of the Muttahida Qaumi Movement (got 23 votes).


4. Susan Rice, the tough-talking US Ambassador to the UN, has been appointed as the new National Security Adviser of President Barack Obama. She would replace Tom Donilon, who will be resigning from the post. Rice is well known for advocating strong relationship with India.


5. Latvia is all set to become the 18th member country of the euro zone and to use the euro after being approved for membership by the European Commission. The Commission has confirmed that Latvia had met the criteria for joining the single currency.


6. Burundi's Lydia Nsekera has become the first woman to be elected to the FIFA Executive Committee (ExCo) for a full term of four years since FIFA's formation in 1904. She is President of the Fédération de Football du Burundi since 2004 and has been a member of the International Olympic Committee since 2009.


Current Affairs India - 5 June 2013


1. India-s Central Information Commission has ruled on Monday that India-s main political parties must be subject to the Right to Information Act, which allows Indian citizens to seek information from most government bodies. Till now, Political parties have claimed they are not public authorities under the RTI act. Rejecting the claim, CIC said the Indian National Congress, the Bharatiya Janata Party, the Communist Party of India (Marxist), the Communist Party India, the Nationalist Congress Party and Bahujan Samaj Party have been substantially financed by the central government and should be subject to the RTI.


2. The Union Cabinet on Tuesday cleared a legislation to set up a long-pending real estate regulator to protect home buyers from unscrupulous developers and builders yesterday. A real estate regulator to be set up in every state will ensure that private developers get their projects registered before sale after obtaining all necessary clearances. It will be mandatory for developers under the law to get every project registered with the regulator before selling any immovable property. As of now, the commercial real estate is not covered under the purview of the proposed bill. However, it will apply to residential buildings. The bill has a provision for mandatory public disclosure of all project details such as lay out plan, land status and credentials of promoters etc.


3. Amazon.com, the world's largest online retailer has entered into Indian e-commerce market with the launch of its marketplace Amazon.in which currently offers books, movies and television shows for sale. The company is planning to expand its product footprint to cameras, mobiles and other electronics devices.  Amazon will not stock and sell its own products because India's FDI regulations do not allow online multibrand retailers to sell their own products. Amazon has signed up 100 vendors across the country so far and has set up a 1.5 lakh sqft fulfillment centre in Mumbai to service online orders.


India-s Onmobile acquires US based Livewire Mobile


India-s mobile value added services company, Onmobile acquired Livewire Mobile, a US-based company for USD 17.8 million. After this acquisition, the company has plans to be the platform where users in the US can buy music and ring back tones. Livewire Mobile provides these services to Sprint, MetroPCS, and Public Mobile etc.


It will also help Onmobile to increase presence in USA and give access to some big customers. Mobile value added service providers have now started providing niche services areas to different telecom customers and their market is continuously increasing with huge growth potential.


IBM acquires cloud computing company SoftLayer


IBM has announced a deal to acquire cloud computing company SoftLayer Technologies to increase its ability to offer businesses and governments computing services hosted in the Internet -cloud.- After this acquisition, IBM will be able to offer public cloud infrastructure to give clients the broadest choice of cloud offerings.


SoftLayer has its headquarters in Dallas and maintains data centres in Asia, Europe and the United States to provide online computing power to approximately 21,000 customers. IBM said that it will create a new Cloud Services division at the company after the SoftLayer acquisition.


6 June


Current Affairs Global - 6 June 2013


1. 67 countries in UN General Assembly, which make it a huge majority, voted in favour of the landmark Arms Trade Treaty (ATT). This treaty intends to regulate the international trade in conventional arms, from small arms to battle tanks, combat aircraft and warships. The treaty covers battle tanks, armoured combat vehicles, large-calibre artillery systems, combat aircraft, attack helicopters, warships, missiles and missile launchers, and small arms and light weapons. The treaty aims to improve peace and security by putting a stop to destabilising arms flows to conflict regions.


2. Japan has unveiled its new bullet train, designed to travel at speeds of up to 500 kmph. The train has undergone its first test on tracks earlier this week. The 5-car train (L0 model),towed by a locomotive, ran on the track slowly to check whether the train bottom has proper clearance from devices on the ground. Commercial runs of this train are scheduled to start between Tokyo and Nagoya in 2027.


3. The European Central Bank has kept its main interest rate on hold at a record low 0.5% today after cutting interest rate recently. Economic data of euro zone showed slight improvement and ECB expects slow recovery for the entire euro zone. It said that it would take all the necessary steps for the struggling zone if required.


4. British novelist Tom Sharpe has died at the age of 85 today. He was an English satirical author, best known for his Wilt series of novels and Porterhouse Blue and Blott on the Landscape, both of which were adapted for television.


5. Czech Republic-s Frantisek Cermak and Lucie Hradecka won the French Open mixed doubles title by defeating Canada-s Daniel Nestor and French Kristina Mladenovic by 1-6, 6-4, 10-6 today. It was Hradecka-s second Grand Slam title after 2011 women-s doubles title and maiden title for Cermak.


6. World Cup hosts Brazil have slipped three places to 22nd in the FIFA world football rankings published recently while the Netherlands have improved four places to fifth position. The top 10 countries as per FIFA ranking are Spain, Germany, Argentina, Croatia, Netherlands, Portugal, Columbia, Italy, England and Ecuador in the same order.


Current Affairs India - 6 June 2013


1. TCA Raghavan, currently India-s top envoy in Singapore, has been appointed as the new High Commissioner in Islamabad. He, a 1982-batch IFS officer, has earlier served as Deputy High Commissioner in Islamabad 10 years ago. He will replace current envoy Sharat Sabharwal.


Vijay Thakur Singh has been appointed as India-s new envoy in Singapore. He will replace TCA Raghavan.


2. Indian government has hiked the import duty on Gold and platinum by 2% to 8% yesterday in order to curb rising current account deficit. This is the second hike in the duty in six months as gold imports touched an alarming 162 tonnes in May. Higher gold and platinum imports have been the key reason for the widening current account deficit which worsened India-s macro-economic condition severely.


7 June


Current Affairs Global - 7 June 2013


1. Famous Irish author Kevin Barry won 100000 Euro International IMPAC Dublin Literary Award for his debut novel, City of Bohane. To win this award he defeated 153 entries from 160 libraries of 44 countries. With this win, he has become the third Irish author to win this award.


2. US-headquartered Indian second largest IT services Company Cognizant has been ranked at 12th place in the Forbes list of America-s 25 fastest growing tech companies. Apart from Cognitzant, no other Indian companies has been ranked in the list.


Social Networking majors LinkedIn and Facebook secured 1st and 2nd ranks in the same list followed by 3D Systems (4th), IPG Photonics (5th), EPAM Systems (6th), Shutterstock (7th), InvenSense (8th), Shutterfly (9th), OpenTable (10th), SolarWinds (11th), athenahealth (13th), Ixia (14th) and Equinix (15th). Google is ranked at 17th Place in the same list.


3. Famous golfer Tiger Woods has been ranked at the top in Forbes' list of highest-paid athletes list with earnings of USD 78.1 million followed by tennis star Roger Federer with earnings of USD 71.5 million. Kobe Bryant, American professional basketball player, has been ranked third with earnings of USD 61.9 million.


Female tennis star, Maria Sharapova has been ranked at No 22 with earnings of USD 29 million. This is the best rank by any female athlete. Serena Williams (at 68 with USD 20.5 million) and Li Na (at 85 with USD 18.2 million) are the other two female athlete who made in the list of top 100.


Current Affairs India - 7 June 2013


1. After the exit of Aruna Roy, the Union Government has reconstituted the National Advisory Council after inducting sociologist Virginius Xaxa into the 12-member panel chaired by Sonia Gandhi. Xaxa has written extensively on tribal communities and is a professor at the Tata Institute of Social Sciences,Guwahati.


2. K R Kamath, the chairman and managing director of Punjab National Bank (PNB) has been re-elected as the Chairman of Indian Banks' Association (IBA) for 2013-14 tenure today at the 66th annual general meeting.


IBA has also elected Aditya Puri, managing director and CEO of HDFC Bank, as its new Deputy Chairman. At the same time, Pratip Chaudhuri, the Chairman of State Bank of India (SBI), has been elected as the Honorary Secretary of IBA.


3. Chief Executive of Jet Airways, Nikos Kardassis has resigned after a five-year stint with the company. The chief operating officer Capt Hameed Ali has been appointed as the interim chief executive of the company. Following deal with Etihad Airways, Etihad reportedly demanded a change in the management under the deal, including removal of Goel's wife from the airline's board and change in chief executive role.


4. Indian rupee closed below the key 57-mark against US dollar today for the first time in a year sliding by 22 paise to 57.06. More rupee depreciation will make imports costlier, increase current account deficit and inflation risk. This drop in Rupee value is good for export industries including IT Industry.


5. India Cricket team captain Mahendra Singh Dhoni, with earnings of USD 31.5 million, has been ranked at 16th place on Forbes' list of highest-paid athletes. He was at 31st position in 2012. The list is topped by golfer Tiger Woods.


6. Famous Telugu music director and playback singer Jetti Veera Raghavulu passed away in Rajahmundry today following illness. He was 82. He made his debut as a music director for 'Drohi' in 1970 and after that he scored music for more than 170 films during his entire career.


8 June


Current Affairs Global - 8 June 2013


1. World Ocean Day is observed today (8th June). The theme for 2013 is -Together, we have the Power to Protect the Oceans-. World Ocean day was introduced in 1992 at Rio de Janeiro with an intention of raising awareness of people towards the importance of oceans and seas in our lives.


2. US job market has added 175,000 jobs in the month of May, which is slightly lower than the economists have predictedUnemployment rate rose slightly to 7.6% in May compared to 7.5% in April. US job market has improved a lot this year due to slow by steady US economic recovery.


3. The European Central Bank (ECB) has lowered its euro zone growth forecast again. It expects euro zone to contract by 0.6% for this year compared to earlier prediction of 0.5% contraction. Recently, the ECB' has kept the benchmark interest rate unchanged at 0.5%, after being cut last month.


4. Rafael Nadal defeated world number one Novak Djokovic in an epic semifinal match yesterday by a very close and hard fought game 6-4 3-6 6-1 6-7 (3-7) 9-7 in four hours and 37 minutes. He will play against David Ferrer in Sunday's final match of French open men-s singles.


5. Serena Williams won her second French Open women-s singles title after defeating title-holder Maria Sharapova by 6-4, 6-4 in a brief final today. It is her 16th Grand Slam title win, taking her to within two of Chris Evert and Martina Navratilova who are tied for fourth on the all-time list.


Current Affairs India - 8 June 2013


1. MCX Stock Exchange-s (MCX-SX) new debt market segment will go live from Monday, June 10. SEBI whole-time member Rajeev Agarwal inaugurated the segment yesterday. Orders would be executed through an anonymous order matching trading platform and Orders can be placed both in terms of bond yields and bond prices. MCX-SX will offer retail and institutional market for the debt segment, including Request for Quote (RFQ) and Negotiated Platform.


9 June


Forex Reserves decreased by USD 4.178 billion to 287.897 billion


India-s Forex reserves were decreased by USD 4.178 billion to 287.897 billion for the week ended 31st May as per the recent weekly data released by RBI. Forex reserves dropped even if RBI did not intervene much to arrest rupee fall. Indian rupee has depreciated by 5.3% since May and recently cross 57 per USD mark.


This decrease was mainly due to decrease in the reserve portion in the Foreign Currency Assets.  The Foreign Currency Assets (FCA) was decreased by USD 3.056 billion to 258.509 billion for the same week. However the SDRs (Special Drawing Rights) and Reserve portion with IMF were increased by USD 10.4 million and USD 5.3 million respectively for the same week. Gold values were also decreased by USD 1.138 billion to USD 22.836 billion for the same reporting week.


Current Affairs Global - 9 June 2013


1. Rafael Nadal won the frech open men-s single title today by defeating David Ferrer 6-3, 6-2, 6-3 in the French Open final today. With this win, he became the first man to win eight titles at the same Grand Slam event. It was Nadal's 12th Grand Slam titles, which move him into a tie for third place with Roy Emerson behind Roger Federer's 17 and Pete Sampras' 14.


2. Top-ranked American twins Bob and Mike Bryan won French Open Men-s doubles title  by defeating French pair Michael Llodra and Nicolas Mahut by 6-4, 4-6, 7-6 yesterday.  This is their record 14th major doubles title.


Current Affairs India - 9 June 2013


1. The BJP has declared the Gujarat Chief Minister Narender Modi as Chairman of the BJP Election Campaign Committee for 2014 general elections today. The announcement was made by the Party President Rajnath Singh in his address to the concluding session of the Party's National Executive meet in Panaji, Goa after the two daylong meeting which ended today evening. Senior party leader L K Advani stayed away from the meet, citing ill health. Modi later tweeted that he had spoken to L K Advani who gave him his blessings.


2. India-s little known badminton newstar K Srikanth (13th seeded) won his maiden men's singles title with a stunning straight-game victory over world number eight and top-seeded local favourite Boonsak Ponsana at the Thailand Open Grand Prix Gold in Bangkok today. He defeated Ponsana 21-16 21-12 in a 34-minute match to script the biggest win of his career.


Srikanth had previously reached the quarter-finals of the Asian Junior Championships and entered the pre-quarter finals of the World Junior Championships in 2011.


10 June


Current Affairs Global - 10 June 2013


1. Global Credit rating agency Standard & Poor's has upgraded its credit outlook for the United States government to "stable" from " negative" today saying that these is less than one in three chances of a downgrade for the world-s largest economy. It has maintained its credit rating at -AA+-, one notch lower than top most rating of -AAA-.


2. Red Bull-s Sebastian Vettel won his maiden Canadian Grand Prix in Montreal yesterday. This is his 29th victory. Ferrari-s Fernando Alonso and Mercedes- Lewis Hamilton came second and third respectively in the same race.


Current Affairs India - 10 June 2013


1. Senior BJP leader L K Advanihas resigned from all party posts today a day after Narendra Modi was chosen to head the party's campaign in elections due next year. Advani resigned from the BJP Parliamentary Board, Election Committee and National Executive. In his resignation letter to BJP President Rajnath Singh he said "No longer I have the feeling that this is the same idealistic party created by Shyama Prasad Mookerjee, Deendayal Upadhyay and A B Vajpayee. Most BJP leaders are concerned just with their personal agendas." BJP president Rajnath Singh Monday refused to accept party leader L. K. Advani's resignation from organisational posts


2. Reserve Bank of India (RBI) has penalized India-s top three private banks today - ICICI Bank, HDFC Bank and Axis Bank for violating its instructions on know your customer (KYC) and anti-money laundering (AML) guidelines. Axis Bank, HDFC Bank and ICICI Bank have been penalized Rs 5 crore, Rs 4.5 crore and Rs 1 crore. Earlier RBI had launched the investigation into the working of banks following the expose by Cobrapost which showed some bankers of these banks giving suggestions to customers on how to bypass regulatory norms.


3. Upadhyayula Suryanarayana Murty, Chief Scientist and Head-Biology Division of CSIR-Indian Institute of Chemical Technology, Hyderabad has been awarded with the ICMR prize for biomedical research conducted in underdeveloped areas for the year 2010. Prof. U.S.N. Murty is conferred with this award in recognition of his outstanding contribution in the area of integrated control of vectors and vector borne diseases like malaria, filariasis and Japanese encephalitis in the north-eastern states.


4. The award has been instituted by the ICMR Council in 1983 to scientists who have contributed significantly in any field of biomedical sciences in underdeveloped areas. The award carries a citation and a cash prize of Rs 20,000 to be presented by Union Minister of Health and Family Welfare Ghulam Nabi Azad.


5. Carnatic vocalist Ranjani Hebbar Guruprasad passed away yesterday in her hometown Udupi, after a prolonged battle with cancer. She was suffering from cancer. She was only 31 years old. She was the daughter of Vasanthalakshmi and Aravinda Hebbar. She performed at many leading sabhas which include prize-winning performances at the Music Academy. Ranjani was also the recipient of honours such as the Kalki Award and Isai Chudar.


11 June


Current Affairs India - 11 June 2013


1. BJP senior leader L K Advani withdrew his resignation today following truce with other BJP senior leaders. RSS also intervened to end the two day crisis and played a crucial role in convincing L K Advani to withdraw his resignation. BJP President Rajnath Singh has also clarified that the decision won-t have any impact on the final decision taken by BJP party to make Narendra Modi as chairman for 2014 election.


2. The Central Bureau of Investigation (CBI) has registered fresh case in the coal scam against Naveen Jindal and Jindal Steel & Power Ltd, Gagan Sponge and two other companies. Former MoS of Coal Dasari Rao has also been named in the registered case.


3. 19 accused including Rajasthan Royals players S Sreesanth, Ankeet Chavan and 14 bookies have been granted bail by a Delhi court yesterday in the IPL spot fixing scandal. Also Court has not found sufficient material against them under the stringent Maharashtra Control of Organised Crime Act (MCOCA) which was a setback for Delhi Police who earlier invoked those charges against all the accused.


4. Former union minister and Congress veteran from Chhattisgarh, V.C. Shukla, passed away today in a Gurgaon hospital after battling injuries sustained in a deadly naxal attack on a convoy of party leaders a fortnight ago. He was 84.


5. Domestic passenger car sales dropped by 12.26% to 1,43,216 units in May this year from 1,63,222 units in the same month last year and Motorcycle sales dropped by 0.72%  to 8,81,288 units compared to 8,87,646 units in the same month last year, as per the data released by the Society of Indian Automobile Manufacturers (SIAM). Total sales of commercial vehicles were also dropped by 10.6% to 55,458 units from 62,032 units. Domestic car market are under pressure due to high interest rate and high fuel cost and expected to grow at very low or negative rate for the current year.


6. Indian rupee hit the record low of 58.96 per USD today before settling at 58.34 against the dollar. Indian Rupee was depreciated steeply due to persistent dollar demand from banks and importers and heavy capital outflows weighed down on the rupee sentiment. Indian rupee continues to face challenges from India-s rising current account deficit (CAD) and expected to drop more in the coming days.


12 June


Current Affairs Global - 12 June 2013


1. World Day against Child Labour is observed today (12 June 2013). The theme this year is -No to Child Labour in Domestic Work-. According to International Labour Organisation, ILO, there are around 6.5 million under-age (between 5 and 14 years) child labourers around the world and over 71% are girls. The International Labour Organization (ILO) launched the World Day against Child Labour in 2002 in order to raise awareness against the same.


2. The Global Peace Index (GPI) 2013 was released yesterday. Iceland topped the list followed by Denmark, New Zealand, Austria, Switzerland, Japan, Finland, Canada, Sweden and Belgium in the same order. The seventh edition of the Global Peace Index (GPI) showed 5% deterioration in the world-s peacefulness over a six-year period.


Current Affairs India - 12 June 2013


1. The Global Peace Index (GPI) 2013, which was released on yesterday, has ranked India among the 25 least peaceful nations to live in. India was ranked at 141 among 162 nations and placed in the bottom of the list along with Pakistan, Iraq, South Sudan and Afghanistan. India has improved on its 2011 rank by three notches.


2. BSNL has decided to discontinue the 160-year-old telegraph service from July 15 due to more use of Smart phones, e-mails and SMS etc. Once the main source of quick and urgent communication, the service delivered many happy and sad news to people across the country. The circular sent to various telecom district and circle offices as per the instruction of a competent authority denotes that telegram services will be closed from 15 July and as a result all telegraph offices under the management of BSNL will have to stop booking telegrams from July 15.


3. Telecom Regulatory Authority of India (TRAI) has issued guidelines that Cable TV subscriber who fails to submit their consumer application forms by 25 June 2013 will face disconnection. The disconnection is expected to affect 80% of such viewers in different cities as the new system has been implemented in 42 cities that have populations in excess of 1 million.


4. Global Credit rating agency Fitch has upgraded India's outlook to -stable- from -negative- and affirmed India's credit rating at BBB-. Fitch expects the country to meet its FY14fiscal deficit target of 4.8%. As per Fitch, inflation pressure is showing sign to cool down which will help RBI to cut rates. This is definitely a very good news for government and it will also boost investors- confidence about Indian economy.


5. Indian cricket team stormed into the semi-final of the ICC Champions Trophy tournament yesterday after defeating West Indies by eight wickets. Shikhar Dhawan scored his second consecutive ODI century and Ravindra Jadeja took 5 wickets for 36 to help India win easily. With this win, India made it to the last four of the Champions Trophy after a gap of 11 years.


India-s retail inflation drops to 9.31% in May; RBI may not cut rates now


India-s Retail inflation, measured by Consumer Price Index, dropped slightly to 9.31% in May compared to 9.39% in April. The drop is lower than economists- expectations and may not give enough room to RBI to cut rates. Retail inflation in rural areas dropped to 8.98% and urban areas dropped to 9.65% respectively compared to 9.16% and 9.73% in April 2013.


This higher retail inflation may stop RBI to cut rates further next week when it will announce its monetary policy.


India-s IIP growth drops to 2% in April


India-s Index of Industrial Production (IIP), the most important indicator to judge the performance of industrial sector, growth stood at 2% in April compared to 2.5% growth in Match. The manufacturing sector grew by 2.8% in April compared to 3.2% in previous month. The consumer durables and consumer non-durables have recorded growth of (-) 8.3% and 12.3% respectively, with the overall growth in consumer goods stood at 2.8%. The electricity output growth reduced to 0.7% compared to 3.5% in March.


At the same time, Retail inflation for May stood at 9.31% which may stop RBI to cut rates next week even if IIP growth is struggling now. With low IIP growth, India-s economic growth dropped to decade low of 5% in the previous financial year 2011-12.


13 June


Current Affairs Global - 13 June 2013


1. A Nobel Prize-winning University of Chicago economist Robert Fogel passed away yesterday after a brief illness. He was 86. He first came to prominence in academic circles in the 1960s when he concluded that railroads weren-t as important to the US economy as was widely believed. He wrote 22 books including the last one published in April.


2. The World Bank has lowered its growth forecast for China due to slower global economic growth. It now expects Chinese economy to grow by 7.7% in 2013 compared to its earlier forecast of 8.4%. It has also cut global economic growth forecast to 2.2% from earlier forecast of 2.4%.


Current Affairs India - 13 June 2013


1. K. Jayaraman has been appointed as new Director of Advanced Systems Laboratory (ASL), a key missile facility in Hyderabad. He took charge as Director of the Defence Research and Development Laboratory from V.G. Sekharan. A post-graduate in Aeronautical Engineering from the Indian Institute of Technology, Madras, he joined the DRDO in 1982.


As System Manager for Project Agni, he designed and developed Carbon Composite Re-entry Vehicle Structures with -shell-on-shell- technique for Agni III. Jayaraman was also instrumental in developing large size Flex Nozzle Control (FNC) for Agni IV and Agni V, besides that of low density panox/silicone External Thermal Protection System (ETP) for the second stage CRMC of Agni IV.


2. Competition Commission of India member H.C. Gupta, former Coal Secretary who is set to be questioned by CBI, has submitted his resignation to the Government. The resignation came soon after the Corporate Affairs Ministry gave its nod to CBI to question Gupta in connection with the coal blocks allocation scam. He was the Coal Secretary between 2006 and 2009, the period which is under the scanner of CBI for alleged irregularities in the allocation of coal blocks.


3. The Government has hiked the investment limit for foreign portfolio investors in government bonds by USD 5 billion to USD 30 billion to attract more foreign inflow. However, the enhanced limit of USD 5 billion will be available for investments only to foreign central banks, sovereign wealth funds, multilateral agencies, endowment funds, insurance funds and pension funds.


4. The World Bank has forecasted 6.7% growth rate for India by next fiscal year as exports and private investment are projected to strengthen and provide a boost to growth. In its latest Global Economic Prospects report, the IMF has said that India-s GDP in factor cost terms is projected to grow 5.7% in the 2013 fiscal and then increase to higher growth of 6.5% and 6.7% in FY2013-14 and FY2014-15, respectively.


 Current Affairs Global - 14 June 2013


1. -World Blood Donor Day- is observed today (14th June) to create awareness of voluntary blood donation. Theme for 2013 is -Give the Gift of Life: Donate Blood-. The main objective of the campaign is to thank donors and their life-saving blood gifts and to promote the voluntary unpaid blood donation.


World Health Organization (WHO) has appealed all the nations of the world to obtain hundred percent blood supplies by voluntary unpaid donors by 2020. At present there are 60 countries that collect 100% of their blood supply from voluntary unpaid blood donors.


14 June


Current Affairs India - 14 June 2013


1. India will surpass China to become world-s most populous nation around 2028, with its population crossing the 1.45 billion mark, as per the latest report by the United Nations. The report -World Population Prospects- says the world-s population will hit 7.2 billion next month and is projected to reach 10.9 billion by 2100.


The report says India is expected to become the world-s most populous country, passing China around 2028, when both countries will have populations of 1.45 billion. After that, India-s population will continue to grow and that of China is expected to start decreasing.


2. The government has appointed S K Roy as the Chairman of Life Insurance Corporation of India (LIC) today. Roy, who is presently a Managing Director in the organisation, would be succeeding D K Mehrotra, whose term as LIC chief ended on May 31. He will be Chairman of India-s largest Insurance company for 5 years. LIC, which manages assets worth around Rs 14-lakh crore of over 20 crore policyholders, has the largest market share among 24 players in the industry.


3. Deputy Commissioner of HP Voluntary Health Association and district administration Dinesh Malhotra has announced the state capital of Himachal Pradesh as -smoke free- at a function organised today.


A survey was conducted on scientific methodology by IGMC Shimla on five indicators and the report by the agency indicated 92.17% compliance of these indicators. The compliance was 89.64% in rural areas and 96.65% in urban areas.


4. Indian IT Company Tech Mahindra has appointed Milind Kulkarni as its new chief financial officer. He will replace Sonjoy Anand who moves to pursue international opportunities. The company has also named Manoj Bhat as deputy chief financial officer.


5. Defending Champion Saina Nehwal has advanced to the semi-finals of the women's singles in the Indonesian Super Series Premier badminton tournament. The World Number Two and second seed defeated Carolina Marin of Spain in straight games 21-16, 21-19 in the quarter-final at Jakarta today.


However, it was the end of the road for men's singles shuttlers Ajay Jayaram and RMV Gurusaidutt, who lost their respective quarterfinal matches.


Google to acquire online mapping service Waze for USD 1.3 billion


Global Internet giant Google has announced its acquisition of online mapping service Waze in a USD 1.03 billion deal. The deal will help Google to get access of a technology that can improve the accuracy and usefulness of its own popular navigation system. Google defeated its competitors Facebook and Apple to secure this deal.


Waze ranks as the fourth most expensive acquisition among the more than 240 deals that Google has completed in its nearly 15-year history. The only bigger purchases are Motorola Mobility Holdings for $12.4 billion last year, DoubleClick for $3.2 billion in 2008 and YouTube for $1.76 billion in 2006.


Waze blends elements of a social network into its maps to produce more precise directions and more reliable information about local traffic conditions. Now Google will allow Waze to operate independently and maintain its main offices in Israel.


India-s overall inflation drops to 4.7% in May from 4.89% in April; gives RBI room for rate cut next week


India-s overall inflation, measured by the Wholesale Price Index, dropped to 4.7% in May compared to 4.89% in April due to drop in prices of manufactured items. Overall inflation stood at 7.55% in May last year.


WPI inflation in the manufactured items category dropped to 3.11% in May from 3.41% in April while in non-food article category, inflation dropped significantly to 4.88% in May compared to 7.59% in April. For the fuel and power category, inflation dropped to 7.32% in May from 8.84% in April. However, inflation in food articles category, which has a 14.34% share in the WPI basket, jumps to 8.25% in May from 6.08% in April due to increase in prices of onions, vegetables, cereals and protein-based items.


Inflation is now below RBI-s comfort level of 5% and it will help RBI to cut rates during its next monetary policy meet on Monday next week. RBI needs to cut rates yet again in order to boost economic and industrial growth as GDP growth dropped to decade low and IIP growth is at nominal 2% level as per latest data.


15 June


Forex Reserves increased by USD 1.778 billion to 289.676 billion


India-s Forex reserves were increased by USD 1.778 billion to 289.676 billion for the week ended 7th June as per the recent weekly data released by RBI.


This increase was mainly due to increase in the reserve portion in the Foreign Currency Assets.  The Foreign Currency Assets (FCA) was increased by USD 1.616 billion to 260.126 billion for the same week. Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of the non-US currencies, such as the euro, pound and yen, held in the reserves.


The SDRs (Special Drawing Rights) and Reserve portion with IMF were increased by USD 61 million and USD 101 million respectively for the same week. Gold values stood unchanged at USD 22.836 billion for the same reporting week.


16 June


Current Affairs Global - 16 June 2013


1. John W Ashe, the ambassador to the United Nations for Antigua and Barbuda in the month of June 2013 has been appointed as the President of UN General Assembly for its upcoming 68th session. Taking the floor immediately after his election, Ashe, who is Antigua and Barbuda-s Permanent Representative to the United Nations in New York, said in 18 months, the world body would launch an agenda for sustainable development for all


2. Reformist Hassan Rouhani, 64, has won Iran-s presidential election with more than 50% of the vote. He is a former chief nuclear negotiator and has vowed to seek a diplomatic solution in the deadlocked dispute over Iran-s controversial nuclear programmes by even entering into direct talks with United States.


Other contenders such as Tehran Mayor Mohammad Bagher Qalibaf got 16.5%, Hard-line nuclear negotiator Saeed Jalili got 11.3% votes and conservative Mohsen Rezaei got 10.6% votes.


The conflict with the West over Iran-s nuclear programme was the key agenda of all the Presidential candidates. All of them have considered current President Mahmoud Ahmadinejad-s nuclear policy as the source of the country-s political and economic crises.


3. World number one Lee Chong Wei easily defeated Germany's Marc Zwiebler 21-15, 21-14 in just 40 minutes to win the Indonesia Open for a fifth time today. In the women's singles final, world number one Li Xuerui of China beat Germany's Juliane Schenk.


Current Affairs India - 16 June 2013


1. In a major setback to NDA ahead of next year-s Lok Sabha election, JD(U) today broke its ties with BJP in Bihar in protest against the elevation of Narendra Modi. This move ended 17-year-old alliances between these two major political parties. JD(U) also told that it does not need BJP support to run the government in Bihar and removed 11 BJP ministers from the state Cabinet. It has also decided to seek a vote of confidence on June 19.


2. Low-cost carrier AirAsia has announced former Tata Sons Chairman Ratan Tata as Chief Advisor to the board of its Indian venture and promised -Nano- airfares once it begins operating flights in the country. At the same time, AirAsia chief Tony Fernandes also said that the name of the Chairman for AirAsia India board would also be disclosed soon.


3. India's missile defence system is set to get a big boost as it is developing capability to intercept enemy missiles fired from a distance of up to 5,000km, in effect tackling any possible threat from countries such as China. The capability is being developed by DRDO as part of the Ballistic Missile Defence (BMD) shield, whose first phase is ready for deployment possibly in Delhi. Development of the first phase of the BMD programme has been completed.


4. Indian players Rajat Chouhan and Manjudha Soy won a silver medal at the World Cup (Stage-II) Archery competition held at Antalya, Turkey on Saturday. They were defeated by the Italian world champions Sergio Pagni and Marcella Toniolli.


India has never won a gold medal in the compound section and their previous best in this format was in the Ogden World Cup 2011 (Stage III) when the women's team of Manjudha, Gagandeep Kaur and Jhano Hansdah had won a silver.


5. Three-time champion Saina Nehwal lost in the semifinals of the Indonesia Open Super Series Premier in Jakarta yesterday. The world No. 2 failed to reach her fifth consecutive final as she suffered a 21-12, 13-21, 14-21 defeat by Germany-s Juliane Schenk.


17 June


Current Affairs Global - 17 June 2013


1. 'World Day to Combat Desertification and Drought' is observed today (17th June) across the world. The World Day to Combat Desertification has been observed since 1995 to promote public awareness relating to international cooperation to combat desertification and the effects of drought.


This year-s slogan, -Don-t let our future dry up- calls for everyone to take action to promote preparedness and resilience to water scarcity, desertification and drought.  The theme of the 2013 World Day to Combat Desertification is drought and water scarcity. The goal of the 2013 World Day to Combat Desertification is to create awareness about the risks of drought and water scarcity in the dry lands and beyond, calling attention to the importance of sustaining healthy soils as part of post Rio+20 agenda, as well as the post-2015 sustainable development agenda.


2. The novel -The Garden of Evening Mists- written by the Malaysian author Tan Twan Eng won the Walter Scott Prize 2013. The Garden of Evening Mists by Tan Twan Eng is a novel about traumatic aftermath of the Japanese occupation of Malaya. It also covers the post-war insurgency against British rule. This novel had also won the 2012 Man Asian Literary Prize announced in March 2013 and with this he became the first Malaysian author to win the most prestigious literary prize of Asia for the same.


3. Serbia-s Novak Djokovic maintained first place in the men-s tennis rankings issued today by the ATP. Djokovic has 11,830 points. Murray has 8,560 points and Federer has 7,740 points. ATP top 5 as of June 17 1st - Novak Djokovic, Serbia, 11,830 points 2nd - Andy Murray, Britain, 8,560 3rd - Roger Federer, Switzerland, 7,740 4th - David Ferrer, Spain, 7,220 5th - Rafael Nadal, Spain, 6,895


Current Affairs India - 17 June 2013


1. The Union Council of Ministers was expanded today with the induction of four cabinet ministers and four Ministers of State (MOS). The ministers who were inducted as Cabinet Ministers are Sisram Ola, Oscar Fernandes, Girija Vyas and Dr K S Rao. Mr. Fernandes has been given the charge of Road and Highways Ministry,  Girija Vyas got Housing and Urban Development and Poverty Alleviation, Sis Ram Ola Labour and Employment Ministry and K S Rao, Textiles Ministry. Mr. Mallikarjun Kharge will be the new Minister for Railways.


Manikrao Gavit has been made Minister of State for Social Justice and Empowerment, Santosh Chowdhury, MoS Health and Family Welfare, J D Seelam,MoS Finance and E M S Natchiappan Commerce and Industry. The newly inducted Ministers were administered the oath of office and secrecy by President Pranab Mukherjee at a function in Rashtrpati Bhawan this evening.


2. Within a day of getting Ratan Tata as chief adviser of AirAsia India, Air Asia India has appointed former TCS CEO S. Ramadorai as its Chairman. With this it ends months-long suspense to appoint the entire top management team including chief adviser, Chairman and CEO.


3. Former Research and Analysis Wing head Bahukutumbi Raman passed away today after a long battle with cancer. He was 77. The former intelligence expert was Director of Institute of Topical Studies, Chennai. Raman was previously Additional Secretary in the Union Cabinet. Raman was also a regular columnist of Business line. He has written a memoir on his RAW days titled -Kaoboys of R&AW - Down memory lane.-


India-s exports dropped by 1.1% in May, Trade deficit widens to USD 20.1 billion


After growing for four consecutive months, India's exports dropped by 1.1% in May compared to same month last year to USD 24.5 billion. Exports in May 2012 stood at USD 24.77 billion. At the same time, Imports jumped by 6.99% in May compared to same month last year to USD 44.65 billion due to rising imports of costly metals. Trade deficit stood jumped to USD 20.1 billion in May compared to USD 17.8 billion in April.


Gold and silver imports, during the month under review, grew by 89% to USD 8.39 billion in spite of government efforts to curb bullion imports. Rising trade deficit and current account deficit has become the biggest concern for the Indian government now.


Last month, the RBI had imposed curbs on import of the yellow metal by banks. Besides, it has also put restrictions on banks and NBFCs for providing loans against gold coins as well as units of gold ETFs. RBI and government have taken all these measures to reduce trade deficit, but those are yet to show any desirable result.


RBI kept interest rates, CRR unchanged in monetary policy review today


The Reserve Bank of India has kept the key interest rates unchanged today during its monetary policy review due to rising food inflation, rupee depreciation and uncertainty over foreign fund inflows. The repo rate has been kept unchanged at 7.25% while reverse repo rate kept unchanged at 6.25% while the cash reserve ratio retained at 4%. SLR and bank rates have been kept unchanged at 23% and 8.25% respectively. The RBI had reduced key policy rate (repo rate) by 0.75% during the last three monetary policy announcements.


The main reasons behind this decision are rising food inflation, depreciated rupee and rising current account deficit. Though the headline inflation has come down significantly, food inflation is still at near double digit level. Indian Rupee has declined by 5.8% January 1 and touched a record low of 58.96 to a dollar last week. Depreciating rupee and rising Current account deficit are the biggest concerns for RBI now.


From economy point of view, RBI has said that global economic activity has slowed and risks remain elevated. On the domestic front, macroeconomic conditions remain weak, hurt by infrastructure bottlenecks, supply constraints, lackluster domestic demand and subdued investment sentiment. RBI has projected the GDP growth for 2013-14 at 5.7% compared to previous year GDP growth of 5%.


18 June


Current Affairs Global - 18 June 2013


1. China has developed the world-s fastest super computer as the Tianhe-2 super computer developed by its National University of Defense Technology works double the speed of the U.S. Energy Department-s Titan machine. The achievement proves China-s rise as a science and technology powerhouse. The semi-annual TOP 500 listing of the world-s fastest supercomputers released yesterday says the Tianhe-2 super computer is capable of sustained computing of 33.86 petaflops per second. That-s the equivalent of 33,860 trillion calculations per second. The U.S. Energy Department-s Titan machine had achieved 17.59 petaflops per second earlier.


Current Affairs India - 18 June 2013


1. A government panel has proposed to raise foreign investment limits in sectors like defence, multi-brand retail and telecommunications etc. today to increase investment in the country in order to tackle problem of rising Current Account Deficit. The committee was set up by Finance Minister P Chidambaram to review the sectoral caps, which has suggested that the Foreign Direct Investment (FDI) ceiling in the defence sector be raised to 49% under the government approval route from 26% at present and FDI cap for multi brand retail will be raised to 74% under the Foreign Investment Promotion Board (FIPB) route from 51%.


2. India-s Telecom Regulator TRAI has asked telecom operators to reduce national roaming rates from next month and with this national roaming is set to get cheaper from next month. TRAI has directed telecom operators to cut call charges by up to 57%, while also capping the SMS tariff. However it has ruled out free national roaming, saying the move will result in local calls getting more expensive as a majority of mobile users will end up cross-subsidizing a small proportion of the user base that uses the roaming facility.


3. India has signed loan agreement of USD 255 Million with World Bank today for National AIDS Control Project-IV. The agreement was signed by the Joint Secretary of Department of Economic Affairs Nilaya Mitash and Mr. Onno Ruhl, Country Director of World Bank in New Delhi. The Objective of the project is to increase safe behaviors among high risk groups in order to contribute to India-s national goal of reversal of the HIV epidemic by 2017.


19 June


Current Affairs Global - 19 June 2013


1. Famous English professional golfer Justin Rose won the US Open after overhauling 54-hole leader Phil Mickelson in the final round on Sunday. Rose closed with a level-par 70 in difficult scoring conditions at Merion Golf Club, posting a one-over total of 281 to become the first Englishman to win the US Open since Tony Jacklin in 1970.


Current Affairs India - 19 June 2013


1. Indian author Amitav Ghosh has been shortlisted among a group of award-winning writers and poets to make the longlist of Warwick Prize for writing today which carries 25,000 pounds as cash rewards. The prize run by Britain-s University of Warwick is an international, cross-disciplinary award open to substantial pieces of writing in the English language in any genre or form.


Kolkata-born Ghosh has been nominated for River of Smoke, alongside other fiction writers such as Australian Booker-prize winner Thomas Keneally for The Daughters of Mars and Israeli writer Etgar Keret for Suddenly, a Knock on the Door.


2. India has not only retained No 1 rank in the ICC ODI Championship Table published by ICC on 17th June and but it has also increased its lead over other teams due to its unbeaten performance in the current ICC Champions league. India now have 121 rating (4986 points) compared to second placed England with 113 rating (4416 points) and third placed Australia with also has 113 rating (4406 points) as per the latest ranking table.


3. The Cycling Coach of Indian national team, Ruma Chatterjee died in a road accident near Nalgadha village on Noida Expressway in Uttar Pradesh yesterday. She died while training 20 junior team members on the expressway when she was hit by a speeding car from behind. She was attending the national camp ahead of the Indian team's visit to International Cycling Union (UCI) Academy, Switzerland for training.


Ruma was a former International Cyclist from India and she represented India three times in international competitions. She has also served as coach of the national team in Asian Games, Asian Championships and Commonwealth Games.


20 June


Current Affairs Global - 20 June 2013


1. World Refugee Day is observed today (20th June) across the world. World Refugee Day is observed every year to honour the courage, strength and determination of people who are forced to flee their homeland under threat of persecution, conflict and violence. The focus of World Refugee Day 2013 is on the impact of war on families. The theme for this year is -Take 1 minute to support a family forced to flee- and the core message is -1 family torn apart by war is too many-. 


Current Affairs India - 20 June 2013


1. Uttarakhand was affected badly due to heavy rains and floods recently. Temples at edarnath and Badrinath were also damaged severely and Pilgrimage to the shrines of Kedarnath and Badrinath cannot resume for three years. After visiting the affected area, Government of India has announced a disaster relief fund of 1000 crore rupees to Uttarakhand. Of the total fund announced, 145 crore rupees will be released by the Government immediately.


2. India-s Rupee touched to record low value of 60 per USD during today-s trade following Fed-s announcement, consistent foreign currency outflow and stock market correction. Rupee settled at 59.53 per USD at the end of today-s trade. Persistent capital outflows from foreign funds and strong demand of USD by importers triggered steep rupee depreciation.


3. Indian advertising agencies won some Gold and Bronze lions at the ongoing Cannes Lions International Festival of Creativity including 2 Gold Lions by the Taproot India and two silver lions by Grey Worldwide India and the O&M India each.


Taproot bagged the gold trophies for its Times of India campaign on farmer suicides. There were no silvers for Indian agencies, but three bronze lions that went to Grey for DHL and Duracell, and O&M for Philips. In Public Relations area, Publicis Communications took home a silver, while O&M India along with Mindshare Fulcrum bagged a bronze and so did BBDO, which also won a bronze in the same category.


21 June


Current Affairs Global - 21 June 2013


1. World Music Day is celebrated today (21st June) across the world.  This day is celebrated to promote peace and spread goodwill through music. The main idea behind the day is to bring music out onto the streets. For the first time, this day was observed in 1982 in Paris as the Fête de la Musique.


Current Affairs India - 21 June 2013


1. The National Sample Survey Office (NSSO), Ministry of Statistics and Programme Implementation has released the key employment related indicators of India for the period of July 2011 to June 2012. As per the published, India's unemployment rose by 2% during July 20011-June 2012, almost the same rate as in 2009-10, as the economic slowdown prompted companies to slow hiring to cut cost.


The urban employment rate rose 3%, it was up 2% in the rural areas. Male unemployment was up 3% and female jobless rate was up by 5% in urban areas while it was nearly 2% for both in rural areas. The rise in unemployment rate comes despite 13.9 million new job creation between 2010 and 2012, as the country's workforce increased to 472.9 million from 459.0 million.


The labour force participation rate (LFPR), the ratio of labour force to the population, declined a tad to 39.5% in 2011-12 from 40% in 2009-10, with the LFPR for men almost flat at 55.6% compared with 55.7% earlier while the LFPR for women dropping to 22.5% from 23.3%. The working population ratio (WPR), the proportion of workforce to population, fell to 38.6% in 2011-12 from 39.2% two years ago as the male WPR nearly dipped to 54.4% from 54.6% while female WPR dipped to 21.9% from 22.8%.


2. Haryana Cadre IAS officer Krishan Kumar Jalan has taken over as Central Provident Fund Commissioner of the retirement fund body Employees- Provident Fund Organisations today. The Appointment Committee of Cabinet had approved his name for CPFC in the EPFO under the Labour Ministry earlier. He will fill the vacancy of R.C. Mishra who retired on 30th November last year.


3. Manu Anand, President of Pepsico India, has resigned from the company. This news came one day after Coca-Cola elevated Atul Singh as Deputy President of Pacific Group. He joined PepsiCo in 1994 as the Chief Financial Officer at Frito-Lay India and took over as the Chairman of PepsiCo-s India Region in January 2011. He was responsible for the company-s beverage and foods businesses in India and South Asian region except Pakistan.


4. India's ace shuttler Saina Nehwal dropped two places to No. 4 in the latest release of the Badminton World Federation rankings yesterday. She also lost in the quarterfinals of the Singapore Open Super Series by Indonesia-s Lindaweni Fanetri today and crashed out of the ongoing tournament.


India-s shuttler PV Sindhu, who pulled out of the ongoing Singapore Open due to an injury, also dropped a place to 12th. Parupalli Kashyap fell a place to 11th while RMV Gurusaidutt and Ajay Jayaram retained 23rd and 25th in the men's singles.  Though only two Indians feature in the women's singles top-50 rankings, the men's singles shuttlers are doing much better with as many as seven of them in the top 50.


22 June


Current Affairs Global - 22 June 2013


1. Barack Obama, the US President has nominated James Comey as the next FBI (Federal Bureau of Investigation) Director. He will succeed Robert Mueller once gets final approval from US Senate. Robert Mueller held the post of FBI Director since 2001 and will retire after completing 12 years of his service. Mr Comey is known for successfully opposing a warrantless wiretapping programme backed by other Bush aides.


Current Affairs India - 22 June 2013


1. VK Duggal, the former Union Home Secretary, was appointed as the nodal officer for relief and rescue operations in the rain-ravaged Uttrakhand by the Union Government of India. Duggal will operate from Dehradun and he will help in establishing coordination between different agencies involved in relief and rescue operations and the centre to fast track the relief operation.


2. Six Forts of Rajasthan has been included in the list of World Heritage Site of UNESCO and won international recognition in the 37th session of the World Heritage Committee (WHC) held on 21st  June 2013 in Phnom Penh, Cambodia. The six majestic forts include Amber (Jaipur), Kumbhalgarh, Chittorgarh, Jaisalmer, Ranthambhore (Sawai Madhopur) and Gagaron (Jhalawar). Built between 18th and 19th centuries, the forts are excellent examples of Rajput military hill architecture, which are found in palaces, temples, memorials and even in villages.


3. Manjeet Singh won a Silver medal for India at the 3rd China Open boxing tournament yesterday. He was defeated by Akepeer Yusuf in the final of the super heavy weight category (+91kg). It was his first international tournament. The Indian men's team returns from the event with one silver and three bronze medals won by Sunil Kumar (52kg), Ajay Kumar (56kg) and Jaideep (75kg).


4. The Indian hockey team finished sixth at the FIH World League after losing a play-off match on penalties to higher-ranked Spain on Sunday. India lost 2-4 after the two teams ended 2-2 in the regulation time as Mandeep Singh and Akashdeep Singh lose penalty shots in the shootout.


23 June


Forex Reserves increased by USD 982.3 million to 290.658 billion


India-s Forex reserves were increased by USD 982.3 million to 290.658 billion for the week ended 14th June as per the recent weekly data released by RBI.


This increase was mainly due to increase in the reserve portion in the Foreign Currency Assets.  The Foreign Currency Assets (FCA) was increased by USD 949.2 million to 261.088billion for the same week. The SDRs (Special Drawing Rights) and Reserve portion with IMF were also increased by USD 18.7 million and USD 9.6 million respectively for the same week. Gold values was decreased by USD 107.4 million to USD 22.836 billion for the same reporting week.


South Africa-s Naspers acquires Redbus.in; largest M&A deal so far in this category


South Africa-s multinational media firm Naspers, which runs online travel aggregator Ibibo in India, acquired Bangalore-based online bus ticketing firm redBus.in. The deal of the value was not disclosed by any of the companies, but it is the largest M&A in the Indian online travel and ticketing segment so far.


Founded by Phanindra Sama in 2006, redBus is the dominant player in the segment. It conducts transactions worth Rs 700-800 crore per annum, selling 10 million tickets. This acquisition will help Ibibo expand and diversify its existing travel assets Goibibo.com (a major B2C online travel aggregator) and TravelBoutiqueOnline (a B2B online travel platform for small and medium agents).


24 June


Current Affairs Global - 24 June 2013


1. International Olympic Day is observed yesterday  (23rd June) across the world. The day is celebrated for promotion of participation of people in the sports all across the world, irrespective of athletic, gender or age ability. Olympic Day was introduced in 1948 to commemorate the birth of the modern Olympic Games on 23 June 1894 at the Sorbonne in Paris.


2. The UN Public Service Day is observed yesterday  (23rd June). The UN Public Service Day intends to celebrate the value and virtue of public service to the community; highlight the contribution of public service in the development process; recognize the work of public servants, and encourage young people to pursue careers in the public sector. The prestigious UN Public Service Awards are given away on this day. The UN Public Service Day was designated by the United Nations General Assembly's resolution A/RES/57/277 of 2003, to -celebrate the value and virtue of public service to the community-.


Current Affairs India - 24 June 2013


1. The International Data Group (IDG) Computerworld Honours Program, Computerworld Honors Laureate has honored Government of India initiative UIDAI with 21st Century Achievement Award 2013 under the category -Economic Development-.  The award has been given to UIDAI in recognition to the pivotal role played by UIDAI in leveraging technology to change people lives, streamline delivery of welfare services and provide opportunity to people to participate more fully in society. The award was received by Ms. Keshni Anand Arora, IAS, DDG on behalf of UIDAI.


2. A sessions court held today that the offence of 'culpable homicide not amounting to murder' under IPC had been made out against Bollywood actor Salman Khan in a 2002 hit-and-run case and rejected his appeal challenging a Magistrate's order invoking this charge. This is definitely a big setback for the actor as under the provision, the actor might be awarded ten years imprisonment and is triable by a session court.


3. India won the ICC Champions Trophy 2013 yesterday after defeating England in the final match at Edgbaston in Birmingham. India made a total of 129 runs for 7 wickets in 20 overs. England managed to make only 124 for 8 wickets. This was the second Champions Trophy title of India. Earlier, it had won the title jointly with Sri Lanka in 2002.


Ravindra Jadeja won the Man of the Match award after he took 2 wickets and scored unbeaten 33 runs. He was also awarded with the Golden Ball for grabbing maximum number of wickets in the series.


Sikhar Dhawan won the Man of the Series award and voted player of the Champions Trophy. He finished as the leading run-scorer with 363 from five matches, including consecutive hundreds and one half-century.


With this win, MS Dhoni has become the first captain in world cricket to have won all major ICC trophies, ICC T20 World Cup, ICC World Cup and ICC Champions Trophy.


25 June


Current Affairs Global - 25 June 2013


1. The Emir of Qatar, the gas rich country in the gulf region, Sheikh Hamad bin Khalifa Al Thani, has handed over power to his son, Sheikh Tamim bin Hamad Al Thani. He said it was time for a new generation to take over. Sheikh Hamad, who used Qatar-s immense gas wealth to drive its modernization, came to power in June 1995. This decision should prompt other rulers in the region to hand over power to new generation as well.


Current Affairs India - 25 June 2013


1. To safeguard the interest of public shareholders, the Securities and Exchange Board of India-s (SEBI) has approved making it mandatory for the companies to buyback at least 50% of their repurchase offers.  Also, the companies would have to complete their buyback offers within six months, from current timeline of 12 months.


In another major decision, the SEBI board also approved measures for making transparent the share allotment to certain investors on preferential basis and said that the payments for such issuances would need to be made from the own bank accounts of such entities.


2. The SEBI board also approved merging different classes of investors such as FIIs, their Sub Accounts and Qualified Foreign Investors (QFIs) into a new category, Foreign Portfolio Investors (FPIs), to come up with a simplified and uniform set of entry norms for foreign investors. The decisions were taken based on the outcome of a report of the 'Committee on Rationalisation of Investment Routes and Monitoring of Foreign Portfolio Investments' under the Chairmanship of former Cabinet Secretary K M Chandrasekhar. SEBI has also approved doing away with the current practice of FIIs and their sub-accounts requiring a prior direct registration of the regulator to operate in Indian markets. Instead, SEBI would adopt a risk-based KYC (Know Your Client) approach in dealing with the overseas investors. All these measures have taken to attract more foreign cash flow in order to tackle rising current account deficit and depreciating Indian Rupee.


3. Satyam Computer Services is now history as its merger with Tech Mahindra has been completed. It has also submitted certified copies of the Andhra Pradesh High Court-s order allowing the amalgamation to the Registrar of Companies which officially completed the merger process. Post-merger, it has become India-s 6th largest IT services company after TCS, Cognizant, Infosys, Wipro and HCL with $2.7 billion revenue for 2012-13 and 84,000 employees working in 46 countries.


4. Sanjiv Goenka was honoured with the -2013 Indian Business Leader of the Year- award at the 2013 Global India Business Meeting currently being held at Belfast UK. The Global India Business Meeting is the foremost gathering of Indian business leaders and their global counterparts. The object is to create a powerful platform for cooperation between India and the rest of the world. This award is in recognition of the success of his business enterprise and to acknowledge his position as an outstanding entrepreneur in India.


26 June


Current Affairs Global - 26 June 2013


1. International Day against Drug Abuse and Illicit Trafficking is being observed today (26th June) to create awareness about the harmful effects of drugs. The theme this year is, 'Make Health Your New High in Life, Not Drugs'. Various functions, symposia and rallies are being organised in different parts of India to mark the occasion.


2. Oprah Winfrey has been named as the most powerful celebrity as per the list published by Forbes today. Total six women and four men made up to the top 10. Singer Lady Gaga, , director/producer Steven Spielberg, singers Beyonce and Madonna have secured 2nd, 3rd 4th and 5th rank respectively in the same list.


3. The US economy growth has been revised downward for the first quarter of the current year due to weak business investment and lower consumer spending. US GDP grew at an annualized pace of 1.8% compared to earlier estimation of 2.4%. US consumer spending, which accounts for three-quarters of US economic activity, grew at a weaker pace of 2.6%, compared to previously estimated 3.4%.


Current Affairs India - 26 June 2013


1. Prime Minister Dr. Manmohan Singh and UPA Chairperson Sonia Gandhi have inaugurated a train service between Banihal in Jammu region and Qazigund in Kashmir today. The prestigious rail link, which includes the longest rail tunnel in India, has been constructed at a cost of 1,800 crore rupees. This train service will provide an all-weather link to the Kashmir valley, which often gets cut off in the winter season due to heavy snowfall.


2. Shri Krishna Chaudhary, IPS has been appointed as Director General, National Disaster Response Force and Civil Defence (NDRF&CD). He will succeed P M Nair who retired on 31st May this year.  Calamities brought about the realization of the need of having a specialist response mechanism at National Level to effectively respond to disasters. This realization led to the enactment of the Disaster Management Act on 26 Dec 2005. The NDMA was constituted to lay down the policies, plans and guidelines for disaster management.


3. Tourism Corporation of Gujarat Ltd (TCGL) has won the prestigious "CNBC Awaaz Travel Award 2013" for the best state tourism board for a second time in row in Mumbai on Monday.  The award was received by Vipul Mittra, State Principal Secretary, Tourism, Civil Aviation and Pilgrimage. The seventh series of the awards, presented by Maharashtra Tourism Development Corporation (MTDC), aims to recognise organisations, destinations, infrastructure and service providers dealing in the tourism industry, according to a press release here. Earlier this month, Gujarat also won the "Best Emerging Destination (Indian)" for the Lonely Planet Magazine India Travel Awards 2013.


4. CEO of Bharti Walmart, Indian arm of global retail giant Walmart, Raj Jain has resigned from the company after heading the company for nearly six years.  Ramnik Narsey, Senior Vice-President for Walmart International will serve as interim leader for India. Walmart has been facing several pressures in India including probe by the Government on foreign exchange violation and also lobbying charges.


27 June


Current Affairs Global - 27 June 2013


1. Kevin Rudd was sworn in as Australia-s new prime minister a day after defeating Australia's first female prime minister in a Labor leadership ballot. He was sworn in for his second term at Government House in Canberra by Governor General Quentin Bryce.


2. Seven-time winner Roger Federer and former champion Maria Sharapova crashed out of Wimbledon due to unexpected loss in the second round. Defending champion third seeded Federer was defeated by Ukraine's world number 116, Sergiy Stakhovsky 6-7 (5/7), 7-6 (7/5), 7-5, 7-6 (7/5). The loss ends Federer-s run of 36 consecutive Grand Slam quarter-final or better appearances starting at 2004 Wimbledon.


Maria Sharapova, the third seed, defeated by Portuguese qualifier Michelle Larcher De Brito, the world 1316-3, 6-4. Earlier Rafael Nadal existed in the first round itself.


Current Affairs India - 27 June 2013


1. Three Indian projects received U.N. Public Service Awards this year which is the most prestigious international recognition of excellence in public service. It rewards the creative achievements and contributions of public service institutions that lead to a more effective and responsive public administration in countries worldwide.


Indian initiatives which won this award this year are Mass Contact Programme of Kerala, Swavalamban of District Administration of Dhanbad in Jharkhand and and Graamin Haat programme of Department of Cottage and Rural Industries in Madhya Pradesh.


2. United Nations Conference on Trade and Development (UNCTAD) has released the World Investment Report 2013 yesterday in which India has retained its position as the world's third most attractive destination for investment by transnational corporations (TNCs) during 2013-15. India was ranked after China and United States. It said that the road to foreign direct investment (FDI) recovery is bumpy and the recovery will take longer than expected, mostly because of global economic fragility and policy uncertainty. Global FDI fell by 18% to $1.35 trillion in 2012. Developing economies also generated almost one third of global FDI outflows, continuing a steady upward trend. FDI outflows from developed countries dropped to a level close to the trough of 2009.


3. India-s current account deficit (CAD) moderated sharply to 3.6% of GDP in Q4 of 2012-13, as per the data released by the Reserve Bank of India (RBI) today. CAD had touched a historically high level of 6.7% of GDP in Q3 of 2012-13 and for entire financial year 2012-13, CAD stood at $87.8 billion (4.8% of GDP) compared to $78.2 billion (4.2% of GDP) during 2011-12. Indian Rupee had touched a record low of 60.76 to a dollar on Wednesday. After the CAD data, the domestic currency recovered to 60.23 to the dollar.


28 June


29 June


30 June


Current Affairs Global - 30 June 2013


1. Global credit rating agency Fitch Ratings has affirmed the United States' top level credit rating at AAA but held the outlook at -Negative- due to high debt levels which makes it vulnerable to shocks unless more deficit reduction measures are adopted. Fitch said it will conduct a further review of the credit rating by the end of 2013.


2. The International Cricket Council (ICC) has announced its decision to replace the Champions Trophy - the last edition of which was won by India recently - with the World Test Championship, the inaugural edition of which will be held in England and Wales in June-July 2017. India will host the second edition of World Test Championship in February-March 2021.


3. ICC has confirmed Afghanistan as the 37th Associate Member of the ICC while Romania was accepted as an Affiliate Member. The new Associate membership will help Afghanistan get more funds from the ICC and also give much-needed exposure to the team.  Afghanistan now join Hong Kong (1969), Kuwait (2005), Malaysia (1967), Nepal (1996), Singapore (1974), Thailand (2005) and UAE (1990) as ICC Associates from the Asian region.


Current Affairs India - 30 June 2013


1. Supreme Court Judge P Sathasivam will be the next Chief Justice of India (CJI). President Pranab Mukherjee has given his nod for the appointment of Mr. Sathasivam as the new Chief Justice after the superannuation of present CJI, Altamas Kabir's tenure which ends on the 18th July this year. 64-year-old Sathasivam had joined as a permanent Judge of the Madras High Court in January, 1996 after which he was transferred to the Punjab and Haryana High Court in April, 2007. He was appointed as a Supreme Court Judge in August, 2007.


2. Bimal Julka (IAS MP:1979), presently serving as Special Secretary and Financial Adviser, Ministry of External Affairs has been appointed as the new Secretary, Ministry of Information and Broadcasting. He will replace Uday Kumar Varma.


3. Alok Rawat (IAS WB:1979), presently serving as Secretary, (PG & Coordination) Cabinet Secretariat, has been appointed as new Secretary, Ministry of  Water Resources. He will succeed Syamal Kumar Sarkar.


4. Sujata Singh (IFS 1976), India's ambassador to Germany, has been appointed as the new Foreign Secretary. She is the senior most officer in the Indian Foreign Service and will succeed Rajan Mathai.


5. The Cabinet has approved the setting up of a regulatory authority for coal sector. It also approved the introduction of Coal Regulatory Authority Bill, 2013, in Parliament. The decision aims to regulate and conserve coal resources and protecting the interest of all stakeholders.


6. The Rajasthan government has launched a unique scheme called Mukhyamantri Bijli Bachat Lamp Yojna for energy conservation. The State government will provide 2 CFL bulbs free of cost to all electricity consumers of villages and BPL consumers in urban areas. This scheme will continue till August 2013. The purpose of this scheme is to save energy and conservation of environment. With the use of these one crore six lakh CFLs 93 crore rupees electricity will be saved and consumers will save 278 crore rupees per year in the state in which 53 lakh families will be benefited with this scheme.


7. According to TripAdvisor's 2013 Travellers Choice Attractions Awards, Travellers from across the globe have ranked India-s Taj Mahal, listed among the new seven wonders of the world, among the top three landmarks in the world. The top two places were taken by Machu Picchu in Peru and Angkor Wat in Cambodia respectively. "The winners of Travelers' Choice Attractions awards were determined based on the quality and quantity of traveler reviews of attractions.


8. Seventh Statistics Day is observed yesterday (29th June) across the country. This day calls for strengthening our resolve to revamp the statistical system. The theme chosen for the 7th Statistics Day, -Labour & Employment Statistics- is extremely relevant in the context of our State where unemployment is a social issue of serious concern. Every year this day is observed to mark the birth anniversary of Professor Prasanta Chandra Mahalanobis in recognition of his contribution to the field of Economic Planning and Statistic.


9. Indian Railways has launched SMS-based ticketing with two dedicated numbers - 139 and 5676714 - for the service. This new service will provide improved customer service and empower the common man to book tickets using SMS only who does not have access to internet and cannot afford to buy smart phones.


10. The Reserve Bank of India (RBI) has proposed a separate wealth management unit for banks involved in wealth & portfolio management services. In its annual monetary policy statement, the RBI suggested the banks to carry out all Wealth Management Services (WMS) activities through a separate subsidiary or via a Separately Identifiable Department or Division established for the purpose. RBI took this decision to address the issue of conflict of interest arising from the single entity conducting both the activities of advisory, fund management as well as marketing.


11. Indian American Cardiac Surgeon and Healthcare Economist Dr Mukesh Hariawala has been conferred with the prestigious Indian Healthcare Visionary of the Decade award at a ceremony of the 4th Annual Business Leadership Conclave held at Hotel Leela in Mumbai. Dr Hariawala delivered a spirited keynote lecture to a packed audience where he convincingly laid out a 100 Billion Dollar Medical Tourism opportunity for India as a byproduct of US President Barack Obama's new Patient Protection and Affordable Care Act which unofficially is also termed -Obamacare-. This new law signed in 2010 would change the ecosystem in the US, moving gradually from the existing capitalistic high quality healthcare with no Waiting Periods to a socialized government controlled form of healthcare as prevalent in the UK and Canada.


12. In a reprieve to the suspended Indian Olympic Association, the IOC has decided to extend the deadline for adopting an amended constitution. The draft is currently being reviewed by the world body. Now this initial deadline of 15th July will have to be slightly extended until the IOC can compile and send all necessary comments for the new IOA Constitution.


13. ICC has announced today that India will host the World T20 in 2016 and the 50-over World Cup in 2023. India will also host the second edition of World Test Championship in February-March 2021.


Forex Reserves decreased by USD 2.812 billion to 287.845 billion


India-s Forex reserves were decreased by USD 2.812 billion to 287.845 billion for the week ended 21st June as per the recent weekly data released by RBI. Forex reserves dropped as RBI intervened to arrest steep rupee depreciation. Indian rupee has depreciated by more than 8% in last 1 month and crossed 60 per USD mark.


This decrease was mainly due to decrease in the reserve portion in the Foreign Currency Assets.  The Foreign Currency Assets (FCA) was decreased by USD 2.656 billion to 258.432 billion for the same week. The SDRs (Special Drawing Rights) and Reserve portion with IMF were also decreased by USD 28.3 million and USD 128.4 million respectively for the same week. Gold values remained unchanged at USD 22.836 billion for the same reporting week.