June 2014 Current Affairs List

1-June


Forex Reserves decreased by USD 2.263 billion to 312.656 billion


India-s Forex reserves were decreased by USD 2.263 billion to 312.656 billion for the week ended 23rd May as per the recent weekly data released by RBI. This decrease was mainly due to decrease in the reserve portion in the Foreign Currency Assets. Indian-s forex reserves decreased after four weeks of continuous increase.


The Foreign Currency Assets (FCA) was decreased by USD 2.255 billion to 285.560 billion for the same week. Foreign currency assets are 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 also decreased by USD 9.8 million and USD 3.7 million respectively for the same week. Gold value remained unchanged at USD 20.965 billion for the same reporting week.


 


2-June


Current Affairs Global - 2 June 2014


1. China's factory activity grew at its fastest pace in May this year. The official purchasing managers- index jumped to 50.8 in May compared to 50.4 in April. Any reading above 50 indicates growth in the particular sector. This is a good sign for the world-s second largest economy.


2. Manufacturing growth in the Eurozone slowed to a six-month low in Mayas the final Markit compiled Manufacturing Purchasing Managers' Index (PMI) dropped to 52.2 in May compared to 53.4 in April. Any reading higher than 50 indicates growth in the sector. This is the lowest PMI reading in last 6 months.


Current Affairs India - 2 June 2014


1. India-s 29th state Telengana come into existence today. K Chandrasekhar Rao was sworn in as Chief Minister of newly-created state Telangana. He was administered oath by Governor E S L Narasimhan along with other eleven cabinet ministers. The Cabinet included Rao's son K T Rama Rao and nephew T Harish Rao. Hyderabad will be the joint capital of Telangana and residuary Andhra Pradesh.


Andhra Pradesh Governor E S L Narasimhan was also sworn in as the Governor of Telangana today. Andhra Pradesh High Court Chief Justice Kalyan Jyoti Sengupta administered the oath to Narasimhan, who will be the common Governor to Telangana and Andhra Pradesh.


2. Prime Minister Narendra Modi abolished all the existing Empowered Group of Ministers (EGoMs) and Groups of Ministers (GoMs) set by the UPA-II government last week. With this, all the important decisions will not be taken up by the Ministries and Departments and this will help to make decision making process much faster.


In case of Ministries facing any difficulty they will be assisted by the Cabinet Secretariat and the Prime Minister-s office in decision making process. EGoMs and GoMs were believed to be the main reason behind slower decision making and policy paralysis under UPA rule.


3. In a surprise move by the Indian Congress Party, Senior Congress Leader and former Railway Minister Mallikarjun Khargewas was named as the Leader of the Congress in the Lok Sabha. Congress President Sonia Gandhi announced his name today as as leader of the party in the Lok Sabha, ending speculation that either she or Rahul Gandhi might take the charge.


It is the new Speaker-s call to recognize the Congress Party as main opposition group so that its leader can get the status of Leader of the Opposition as the party does not have 55 MPs, 10% cent of the total strength, required to earn the status.


4. Union Finance Minister Arun Jaitley has been appointed as India's Governor on the Board of Governors of the Asian Development Bank. This appointment has come into effect from 27th May and he succeeded previous Finance Minister P Chidambaram for this post.


5. Mahindra Group Chairman Anand G Mahindra became the first Indian to receive the prestigious Harvard Medal. He was awarded for his dedication, generosity and service to the university. Harvard president Drew Faust, the Lincoln professor of history, presented Mahindra with the medal at the annual meeting of the Harvard Alumni Association during Harvard's 363rd Commencement Afternoon Program on 29th May.


Anand Mahindra is also an alumnus of Harvard University. He did his graduation from Harvard in 1977. He completed an MBA degree from the Harvard Business School, Boston, Massachusetts.


6. Former Union Minister and BJP leader Tapan Sikdar passed away in the All India Institute of Medical Sciences, New Delhi due to respiratory problems. He was 69. He was a Minister of State in the NDA government headed by Atal Bihari Vajpayee. He was elected to Lok Sabha twice from Dum Dum constituency.


7. Hindustani vocalist Dhondutai, a Hindustani singer of the Jaipur-Atrauli gharana, passes away in Mumbai yesterday. She was 87. She was known for being a purist and for her repository of rare ragas.


8. Kolkata Knight Riders won the seventh Edition of IPL title after defeating Kings Eleven Punjab by 3 wickets at the final match held in Bangalore yesterday. While batting first, Kings Eleven Punjab scored 199 runs in 20 overs with help of a century by wicket keeper batsman Wridhhiman Saha. Kolkata Knight Riders successfully chased winning target of 200 runs riding on Manish Pandey 94 run innings with proper support by Gautam Gambhir and Yusuf Pathan. This is 2nd IPL title of Kolkata Night Riders after 2012 and with this it touched Chennai Super Kings-s record of two IPL titles.


 


3-June


Current Affairs Global - 3 June 2014


1. Eurozone inflation dropped to 0.5% in May compared to 0.7% in previous month of April. This inflation number is well below the European Central Bank's 2% target and ECB is expected to cut rates in order to boost growth and counter the threat of deflation fear now.


Also the eurozone unemployment rate dropped slightly to 11.7% in April compared to 11.8% in March. Austria has the lowest unemployment rate of 4.9% while Germany has 5.2%, Greece has the highest unemployment rate in the zone at 26.5% while Spain has 25.1%.


2. Growth in US manufacturing slowed in May compared to April, as per the data published by the Institute for Supply Management yesterdayThe ISM manufacturing sector purchasing managers index, an important parameter to judge performance of the sector, dropped to 53.2 in May compared to 54.9 in April. Any reading higher than 50 indicates growth in the sector, which also confirms growth for the sector but at a slower pace compared to previous month.


Current Affairs India - 3 June 2014


1. Union Rural Development Minister Gopinath Munde passed away today morning after he met with a road accident in Delhi. He met with the accident on his way to the Indira Gandhi International Airport. The accident happened at around 6.30 a.m. when a vehicle rammed into his car at Moti Bagh area. Later, he was admitted at AIIMS Trauma Centre, where he passed away due to internal injuries and cardiac attack.


Expressing shock over his death Prime Minister Narendra Modi said his demise is a major loss for the Government and the country. -Gopinath Munde ji was a true mass leader. Hailing from backward sections of society, he rose to great heights & tirelessly served people,- the PM tweeted. Munde won the 2014 Lok Sabha election from Beed Constituency by a margin of 2 lakh, defeating NCP's Suresh Dhas. He was the most popular BJP leader in Maharashtra also considered to be the key candidate for Maharashtra Chief Minister Post from BJP side.


2. India has overtaken Germany and Italy to emerge as the world's second largest textile exporter, just behind China. As per the data released by the Apparel Export Promotion Council, India's textiles exports were estimated at USD 40 billion in 2013, compared with China's USD 274 billion. China-s textile export is nearly seven times higher than India-s overall textile export.


Textiles includes everything from fibre and yarn to fabric, readymade garments made of cotton, silk, wool and synthetic yarn. Over 55% of global trade relates to readymade garments, where India ranked sixth in 2013 with exports of USD 16 billion. Italy, Germany and Bangladesh secured third, fourth and fifth ranks respectively with textile export value of USD 36 billion USD 35 billion and USD 28 billion respectively.


3. India has slipped to seventh rank, its lowest position in over a decade, in the foreign direct investment confidence index, as per the survey of 300 global executives by global consulting firm A T Kearney. Indian was able to attract only USD 25.5 billion FDI inflows in 2012 compared to USD 31.6 billion in 2011, resulting in 7th rank compared to 5th rank in 2011. This is the lowest ranking for India since 2001. India was ranked second for three years in 2005, 2007 and 2012 and was placed on the third spot in 2010.


The 2014 A T Kearney Foreign Direct Investment Confidence Index survey placed US as the top destination in the world for foreign direct investment. The US moved to the top position last year displacing China as US economy grew at a steady rate.


4. The Reserve Bank of India announced a few measures in its bi-monthly monetary policy today which signal a relaxation of some measures announced last yearThe RBI has relaxed the eligibility limit for foreign exchange remittances to USD 125,000 from USD 75,000 today. RBI reduced the limit last year only from USD 200,000 due to steep depreciation of Indian Rupee.


The recent stability in the foreign exchange market has prompted the central bank to relax this limit under the liberalised remittance scheme (LRS), RBI Governor Raghuram Rajan said in the RBI's second bi-monthlymonetary policy statement for 2014-15 issued today.


5. India's manufacturing sector grew for the seventh consecutive month in May due to higher domestic and export order flows. The HSBC India compiled Manufacturing Purchasing Managers' Index (PMI), an indicator to judge the performance of the sector, increased marginally to 51.4 in May compared to 51.3 in April. Any reading higher than 50 indicates growth in the sector.


6. R K Malhotra, Director (R&D) at Indian Oil Corp (IOC), has been given additional charge as Chairman of the India-s largest company as appointment of a regular head has been delayed. He has a month's service left before retirement. RS Butola retired as Chairman of IOC on Saturday but the appointment of his successor B Ashok, who was selected by government head-hunters Public Enterprise Selection Board (PESB) in October 2013, is yet to be formalized by the Central Government.


7. Ravi Kant, non-executive vice-chairman of Tata Motors, retired from the Board on 31st May 2014 on attaining the age of 70 as per the Company-s retirement policy. He worked as Managing Director of the Auto Company from 2005 to 2009 and as a non-executive vice chairman thereafter.


8. India's top batsman Virat Kohli won the Ceat International Cricketer of the Year award and off-spinner Ravichandran Ashwin, the fastest player from the country to pick 100 Test wickets, won the Indian Player of the Year award for 2013-14 yesterday.


Left-handed opener Shikhar Dhawan was named the International Player of the Year while Robin Uthappa won the -Domestic Cricketer of the Year- prize for his contribution in his state Karnataka-s Ranji Trophy win. Former India wicketkeeper and a member of the 1983 World Cup-winning team, Syed Kirmani, was given the-Lifetime Achievement- award.


The other important awards include ODI Player of the Year (Shikhar Dhawan, India); T20 Player of the Year (Shakib Al Hasan, Bangladesh); Test Player of the Year (Mitchell Johnson, Australia); Popular Choice award (Glenn Maxwell, Australia) and Young Player award (Vijay Zol, Maharashtra).


India-s core sector output grew by 4.2% in April


India-s eight core sector consisting of coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity sectors grew by 4.2% in April compared to same month last year. Core sector growth was boosted by higher electricity, fertiliser and cement production. Core sector growth stood at 3.7% in the same month last year. Electricity and fertilizer sector product were increased by 11.2% and 11.1% in April compared to 5.2% growth and 6.1% contraction in previous month of March. The output of crude oil (-0.1%) natural gas (-7.7%) and refinery products (-2.2%) contracted in April.


The eight core sectors have 38% weightage in the Index of industrial Production (IIP), which makes it also an important indicator of India-s industrial activity. This better core sector growth will have positive impact on IIP number of the same month.


RBI keeps repo rate unchanged at 8%; SLR cut by 50 bps to boost credit


The RBI Governor Dr Raghuram Rajan kept key policy rates unchanged today in his second bi-monthly monetary policy review, which is also the first under the new Modi government. Repo rate, the rate at which RBI lends money to banks for the short term, was kept unchanged at 8% while the Reverse Repo Rate, the rate at which RBI borrows money from banks, was kept unchanged at 7%. The cash reserve ratio for banks has been kept unchanged at 4%. The reverse repo rate under the LAF will remain unchanged at 7% and the marginal standing facility (MSF) rate and the Bank Rate have been kept unchanged at 9%.


The RBI has decided to reduce the statutory liquidity ratio (SLR) of scheduled commercial banks by 50 basis points from 23% to 22.5% of their net demand and time liabilities (NDTL) with effect from the fortnight beginning June 14, 2014. Statutory liquidity ratio (SLR) refers amount that the commercial banks require to maintain with the RBI in the form of gold or government approved securities (G-Secs or bonds) before lending. This move will give banks more freedom to increase credit or loan to non-government sectors which will help to improve economic activity.


It has also decided to reduce the liquidity provided under the export credit refinance (ECR) facility from 50% of eligible export credit outstanding to 32% with immediate effect; introduce a special term repo facility of 0.25% of NDTL to compensate fully for the reduction in access to liquidity under


4-June


Current Affairs Global - 4 June 2014


1. Japan-s Dai-ichi Life Insurance Co announced to acquire US life insurer Protective Life for about USD 5.7 billion. Dai-ichi Life will acquire all outstanding shares of the USA based company for USD 70 per share and the company will also issue up to 250 billion yen (USD 2.4 billion) in new shares to partly finance the deal. Post the deal, the combined company will become the world-s 13th largest life insurer.


2. Global social networking giant Facebook announced that it would acquire Pryte, a Finnish company that aims to make it easier for mobile phone users in under-developed countries to use wireless Internet apps. This acquisition will help Facebook to connect with people from other under-developed countries in the world.


Pryte's service, which has not publicly launched yet, seeks to make it easier for consumers without wireless data plans to use online services by selling short-term passes that would provide access to particular mobile apps, such as Facebook or Foursquare.


Current Affairs India - 4 June 2014


1. Sumitra Mahajan, senior BJP leader and one of the most experienced Parliamentarians, is all set to be the next Lok Sabha Speaker of 16th Lok Sabha. The election for the Speaker will take place on Friday and the party is likely to make the formal announcement before that.


She has never lost the Lok Sabha elections since 1989 and was elected from Indore for the eighth time in the recently held election in 2014. Once elected, she will be the second woman to hold the key position after the outgoing Speaker Meira Kumar.


 


5-June


Current Affairs Global - 5 June 2014


1. World Environment Day is celebrated today (June 5) across the world to raise global awareness to take positive environmental action to protect nature and the planet Earth. The 2014 theme for World Environment Day will focus on 'Small Islands and Climate Change' and the official slogan for the year 2014 is 'Raise Your Voice Not The Sea Level.


It was established by the United Nations General Assembly in 1972 on the day that United Nations Conference on the Human Environment began. It is run by the United Nations Environment Programme (UNEP).


2. Bashar al-Assad has been re-elected as the President of Syria for another seven year term. The Syrian parliament speaker announced in Damascus that Bashar Al Assad bagged 88.7% of votes while his rivals Hassan al-Nouri and Maher Hajjar won 4.3% and 3.2% votes, respectively. 


3. India has dropped to the third ranking in the latest ICC ODI team rankings published today. Australia and Sri Lanka secured first (115 points) and second position (112 points) respectively.


Indian batsman Virat Kohli has retained his position as number one ODI batsman while Saeed Ajmal retained his No 1 rank in the bowlers- list. In the batsmen list, Virat Kohli is ranked at number one followed by South Africa-s A B Devilliers and Australia-s George Bailey. Indian skipper Mahendra Singh Dhoni is placed sixth and Shikhar Dhawan is ranked eighth. Saeed Ajmal leads the bowlers list followed by Dale Steyn and Sunil Narine. Ravindra Jadeja is placed fifth and Ashwin is ranked at 15th place. In the all-rounder-s list, Pakistan-s Mohammed Hafeez secured No 1 rank followed by Sri Lanka-s Angelo Mathews.


Current Affairs India - 5 June 2014


1. The Telugu Desam Legislature Party (TDLP) has elected TDP chief N Chandrababu Naidu as its leader. With this he is all set to be the new Chief Minister of Andhra Pradesh (Seemandhra). He is expected to take oath on June 8 near Guntur.


After being sworn in, Naidu is likely to announce his first major decision about crop loan waiver and loan waiver to women self-help groups. These were amongst the key election promises he made during the campaign.


2. Indira Gandhi International Airport in New Delhi has been announced the second best airport in the world for its service quality among airports handling 25-40 million passengers per annum for the third consecutive year, as per the list published by the Airport Council International, ACI while Mumbai's Chhatrapati Shivaji International Airport was placed at fifth position in the same category.


ACI is a global body of airports which represents their interests with governments and international organisations. It covers 1,751 airports in 174 countries. However, in the global ranking, IGI this year was placed at the sixth position against last year's fourth.


 


6-June


 


7-June


 


8-June


Current Affairs Global - 8 June 2014


1. Petro Poroshenko was sworn-in as President Ukraine after winning the Presidential election held recently. He got 54.7% of the total votes in the recently held election last month. His main job will be to bring peace and harmony in the east part of the country.


2. UN Secretary General Ban Ki-moon has nominated Jordan-s envoy, Prince Zeid Ra-ad Zeid Al-Hussein as the new High Commissioner for Human Rights. He replaced Indian-origin Navi Pillay, who was appointed High Commissioner for Human Rights in July 2008.


He is currently Jordan-s Permanent Representative to the United Nations, a post he held previously for six-and-a-half years, from 2000 to 2007. From 2007 to 2010, he served as Jordan-s Ambassador to the United States and non-resident Ambassador to Mexico. He has also served as Jordan-s Deputy Permanent Representative at the UN, with the rank of Ambassador, from 1996 to 2000.


3. Irish author Eimear McBride has won the 2014 Baileys Women's Prize A for Fiction with her debut novel, ` Girl is a Half-Formed Thing'. McBride's debut is a story of a young woman's relationship with her brother and the long shadow cast by his childhood brain tumour.


She defeated Indian-American writer Jhumpa Lahiri's `The Lowland' to win the prize. Baileys Women's Prize for Fiction (earlier known as the Orange Prize) is UK's only annual book award for fiction written by a woman.


4. United States added 217,000 jobs in May which was slightly below than the expectations of the analysts. The unemployment rate remained unchanged at 6.3% in May. This lower unemployment rate confirms improvement in US job market and strong recovery later this year.


5. The European Central Bank (ECB) introduced aggressive easing measures this week in order to stimulate the eurozone economy which has been struggling to regain strong economic growth. The ECB is the first major central bank to introduce negative interest rates, which will help banks to lend money to businesses aggressively.


The ECB announcement saw it cut the deposit rate for banks to zero from -0.1% and reduce the benchmark interest rate to 0.15% from earlier 0.25%. In addition to the interest rate cuts, the ECB will offer a package of cheap long-term loans to banks which are worth up to 400bn euros. ECB President Mario Draghi also signaled there may be more easing measures to come.


6. Russia-s Maria Sharapova won her five Grand Slam titles after she won the French Open for a second time yesterday. She defeated Romania-s Simona Halep by 6-4, 6-7 (5/7), 6-4 in the final match to win the title.


Current Affairs India - 8 June 2014


1. Union Transport Minister Nitin Jairam Gadkari was given additional charge of the Ministries of Rural Development, Panchayati Raj and Drinking Water and Sanitation this week post sudden demise of Union Minister Gopinath Munde due to a road accident in New Delhi earlier this week.


2. Sumitra Mahajan, was unanimously elected Speaker of the 16th Lok Sabha this week. With this, she becomes the first BJP MP to hold the post. She was elected as MP from Indore and holds a record of winning for maximum number of consecutive times.


3. Senior Supreme Court advocate Ranjit Kumar, considered an expert on Constitutional laws, was appointed as the Solicitor General yesterday. The Law Ministry also issued notifications appointing senior advocates Maninder Singh, Tushar Mehta, L Nageshwar Rao, P S Patwalia, Neeraj Kishen Kaul and P S Narasimha as Additional Solicitors General.


4. Maharashtra Chief Minister Prithviraj Chavan flagged off the first service of Mumbai metro from Versova Station in the western suburb on 8th June, ending wait of Mumbaikars for metro services. The service was launched by Chavan along with ADAG Chairman Anil Ambani at 10.10am today.


The launch of metro services will revolutionize the commutation of Mumbaikars, Mr. Chavan said after the launch. With this service, the journey on the 11.4 km Versova-Andheri-Ghatkopar stretch will reduce to 20 minutes which otherwise takes around 90 minutes at present by road transport.


5. Vice admiral Anil Chopra, the second senior most officer of the Indian Navy, took over as the flag officer commanding-in-chief of the Western Naval Command (WNC) in Mumbai on Friday. He succeeded former Vice admiral Shekhar Sinha who took voluntary retirement on 21st April.


Prior to his tenure in the east, Vice admiral Chopra was the director general Indian Coast Guard, taking charge a few days after the 26/11 Mumbai attacks in November 2008.


6. The Unit 1 of the Kudankulam nuclear power plant (KNPP) has reached full capacity generation of 1,000MW on 7th June. It has reached the milestone nearly eight months after it started power generation. This is also the first nuclear power plant in the country to touch 1,000MW of power generation.


"At exactly 1.20pm on Saturday, power generation in the unit 1 of the plant touched 1,000MW. The unit continued to generate 1,000MW for nearly a day, after that power generation was scaled down to 900MW as per the Atomic Energy Regulatory Board (AERB) stipulations.


7. The National Bank for Agriculture and Rural Development (NABARD) has cut the interest rate on its long-term refinance facility to banks by 20 basis points to promote more investments in agriculture sector amid renewed fear of El Nino effect. The new rates will be 9.5% compared to earlier 9.7% for 5 years and above and 9.7% compared to earlier 9.9% for 3-5 years.


8. Uday Kotak, Executive Vice-Chairman and Managing Director of Kotak Mahindra Bank, has been awarded with the -EY World Entrepreneur of The Year 2014- award at a ceremony held in Monaco today. He was picked from among the 60 country finalists.


He is the second from India to win the award and his selection comes 11 years after N R Narayana Murthy of Infosys had won in 2003.


9. Sanjay Kapoor has been appointed as Chairman of Indian smart phone maker Micromax. He was a former CEO of Bharti Airtel company. He was also one of the key executives in building Bharti Airtel from being one of the many players in the industry to making it a leading telecom player.


 


9-June


Current Affairs Global - 9 June 2014


1. Japan-s economy grew at an annualized rate of 6.7% in the first quarter of the current year. The figure was upgraded from an annualized figure of 5.9% for the same quarter announced in mid-May. On quarterly basis growth rate stood at 1.6% compared to previous quarter.


2. Rafael Nadal won his ninth French Open and 14th career Grand Slam title yesterday with a 3-6, 7-5, 6-2, 6-4 victory Novak Djokovic. The world number one also became the first man to win five Roland Garros crowns in succession and his tally of 14 Grand Slam titles equals the mark of Pete Sampras and puts him just three behind the all-time record of Roger Federer.


Post this match, world number two Djokovic still needs a French Open title to become just the eighth man to complete the career Grand Slam.


3. Red Bull's Daniel Ricciardo won the Canadian Grand Prix held in Canada yesterday. This was his first Formula One victory. Mercedes- Nico Rosberg, Red Bull-s Sebastian Vettel, McLaren-s Jenson Button and Force India-s Nico Hulkenberg secured 2nd, 3rd, 4th and 5th position respectively in the Canadian Grand Prix.


Current Affairs India - 9 June 2014


1. Finance Minister Arun Jaitley was named as the Leader of the House in the Rajya Sabha today while Congress leader Ghulam Nabi Azad was named as the Leader of the Opposition. Rajya Sabha Chairman Hamid Ansari made the announcement on the first day-s sitting of the Upper House after the Lok Sabha elections. Arun Jaitley was earlier the Leader of Opposition in the Rajya Sabha during UPA Government.


2. India-s tennis ace Sania Mirza achieved her career best ranking today when she became world number six in doubles, as per the new chart released following the conclusion of the French Open.


Due to her quarter-finals appearance in French Open, Sania earned 430 ranking points along with partner Cara Black to jump eight places in the ranking charts. Sania and Cara had lost to eventual champions Shuai Peng and Su-Wei Hsieh. In the men's doubles, Leander Paes continued to be the highest ranked player at number 13 while Rohan Bopanna was ranked at number 17.


3. India today successfully test-fired BrahMos supersonic anti-ship cruise missile from INS Kolkata off the coast of Karwar in Karnataka today. The Navy has already deployed BrahMos weapon systems on several of its warships while the missile has also been inducted into the Army and the Air Force. The Indo-Russian joint venture BrahMos Aerospace has developed several variants of the missile for different kinds of warfare and is now developing a much-faster hypersonic version of the weapon system.


4. Former India captain Sourav Ganguly has been appointed as an expert member on cricketing affairs of the Supreme Court-appointed Mudgal committee which was formed to probe the IPL betting and spot-fixing scandal. The panel is headed by Retd Justice Mukul Mudgal and includes advocates L. Nageswara Rao, Niloy Dutta and senior IPS officer B.B. Mishra.


5. Punjab-s Arpinder Singh smashed the national record in men's triple jump with a stupendous jump of 17.17 Metres to win gold and qualify for the Glasgow Commonwealth Games on the concluding day of the 54th National Inter-State Senior Athletics Championships in Lucknow on Sunday. The 21-year-old Arpinder erased Renjith Maheswary's earlier national record by 10 cms. Arpinder is now both the Commonwealth and Asian leader this season so far.


 


10-June


Current Affairs India - 10 June 2014


1. Retired IAS officer and former Agriculture Secretary P K Mishra has been appointed as Additional Principal Secretary to Prime Minister Narendra Modi. Considered close to Modi, he has held various key positions at the Centre and in the Gujarat government.


Mishra, a 1972-batch retired IAS officer of Gujarat cadre, had served between 2001 and 2004 as Principal Secretary to Modi when he was Gujarat Chief Minister. He was Secretary in the Ministry of Agriculture between 2006 and 2008. He was appointed Chairman of Gujarat Electricity Regulatory Commission after his retirement in 2008 for a five- year term.


2. Prime Minister Narendra Modi scrapped four cabinet committees formed by the previous UPA government, including one on Unique Identification Authority (UIDAI), today as part of his efforts to minimize decision-making processes. The other committees disbanded were the Cabinet Committee on Prices, the Cabinet Committee on Management of Natural Calamities and the Cabinet Committee on World Trade Organisation Matters.


The functions of the Cabinet Committee on Prices will now be handled by the Cabinet Committee on Economic Affairs. The functions of the Cabinet Committee on Management of Natural Calamities will be handled by the Committee under the Cabinet Secretary whenever natural calamities occur.


3. The Reserve Bank of India has issued a notification yesterday to simplify KYC norms for opening bank account. As per the notification only One Documentary Proof of Address should be enough to open a bank account. As per notification, customers may submit only one documentary proof of address (either current or permanent) while opening a bank account or while undergoing periodic updation. In case the address mentioned as per -proof of address- undergoes a change, fresh proof of address may be submitted to the branch within a period of six months.


In case the proof of address furnished by the customer is not the local address or address where the customer is currently residing, the bank may take a declaration of the local address on which all correspondence will be made by the bank with the customer. No proof is required to be submitted for such address for correspondence/local address. This address may be verified by the bank through -positive confirmation- such as acknowledgment of receipt of (i) letter, cheque books, ATM cards; (ii) telephonic conversation; (iii) visits; etc. In the event of change in this address due to relocation or any other reason, customers may intimate the new address for correspondence to the bank within two weeks of such a change.


4. Domestic vehicle sales grew by 13.22% to 16,98,138 units in May this year compared to 14,99,893 units in the same month a year ago, as per the report published by the Society of Indian Automobile Manufacturers (SIAM) today. While domestic passenger car sales grew by 3.08% to 1,48,577 units last month compared with 1,44,132 units in May 2013, motorcycle sales grew by 11.71% to 9,84,469 units in May against 8,81,288 units in the year-ago period.


5. Legenderay Bollywood actor Dilip Kumar-s autobiography -The Substance and the Shadow- was released at a glittering event in Mumbai yesterday evening. The biography of 91-year-old-actor has been written by former journalist Udaya Tara Nayar. Amitabh Bachchan, Dharmendra, Aamir Khan, Madhuri Dixit and Priyanka Chopra were among those attended the event along with industrialist Anil Ambani.


The book details his ups and downs in his much-talked about relationships, marriage and movies. Born Muhammad Yusuf Khan in Peshawar, Pakistan, Kumar spent his childhood in Maharashtra and left home to start a canteen. Described as -the ultimate method actor- by the great ilmmaker Satyajit Ray, Kumar made his debut in 1944 with Jwar Bhata, and thereafter dedicated six decades of his life working in top hits such as Mela, Naya Daur, Aan, Devdas, Madhumati and Mughal-E-Azam.


He was honoured with Padma Bhushan, India-s third-highest civilian award in 1991, the Dadasaheb Phalke Award in 1994 and Pakistan-s highest civilian award Nishan-e-Imtiaz in 1998, for his contributions towards Indian cinema. He was also nominated to Rajya Sabha, the Upper House of Indian Parliament for a term. The legendary actor also holds the Guinness World Record for winning the maximum number of awards by an Indian actor.


6. India will face Asian champions South Korea in the play-off for the ninth position in the men-s hockey World Cup, currently being held in the Netherlands.  Indian hockey team finished at eighth-place in the last (2010) edition at New Delhi. Indian team stood at fifth position in Group A as they managed just one victory and a draw in five matches.


Australia and England teams from Group A secured Semifinal births while Argentina and Netherlands secured Semifinal births from Group B. Argentina-s men-s hockey team reached semifinal of World cup hockey for the first time.


 


11-June


Current Affairs India - 11 June 2014


1. India has joined the race for the post of Interpol Secretary General for the first time as CBI has asked External Affairs Ministry's help to mobilize support for the candidature of CBI chief Ranjit Sinha. Ranjit Sinha, the first Indian to be shortlisted for Interpol Secretary General, will have to appear before the Executive Committee of the Interpol on June 16 at Lyon in France where the Interpol headquarters is located.


61-year-old Sinha, who is the country's senior most IPS officer, was shortlisted along with three candidates from Europe, one each from Africa and the United States.


2. India was ranked at 15th rank with 175,000 millionaire households in 2013 and is projected to become the seventh wealthiest nation by 2018, as per the Boston Consulting Group's report. India-s position improved slightly from 2012 when it had ranked 16 in the world for its number of millionaire households.


The Boston Consulting Group-s 14th annual report on the global wealth-management industry -Riding a Wave of Growth: Global Wealth 2014- said global private financial wealth grew by 14.6% in 2013 to reach a total of USD 152 trillion. The US had the highest number of millionaire households at 7.1 million, as well as the highest number of new millionaires at 1.1 million.


3. The Jayalalithaa Government launched three varieties of low-cost salt, named after the Chief Minister herself. Jayalalithaa launched -Amma Salt- at the Secretariat here, which follows up her government-s earlier initiatives like the subsidised -Amma- Canteens and -Amma- Mineral Water. Jayalalithaa is addressed as -Amma- (Mother) by her supporters.


She has launched three varieties — Double Fortified, Low Sodium and Refined Free Flow Iodised Salt — under the -Amma- Salt banner. -Amma Salt-, an initiative of the Tamil Nadu Salt Corporation, will now be available in the open market at prices lesser than those of private producers.


4. State Bank of India, India-s biggest lender, has announced that it would combine its five associate banks with itself in order to expand business. SBI's five associates are State Bank of Travancore, State Bank of Hyderabad, State Bank of Patiala, State Bank of Bikaner & Jaipur and State Bank of Mysore. The combination of the associates will enhance the asset base of SBI to Rs 21.9 lakh crore, and add 5,658 branches to its 15,143 branches. The combined market share will rise to 24%, from 19%.


The state-dominated Indian banking system is tiny compared with developed markets, or China which has built up giant lenders in the past two decades. The market capitalisation of the Indian banking industry is estimated at about USD 185 billion, compared with China's largest bank ICBC's value of USD 217 billion, data from Bloomberg shows.


5. Indian pistol shooter Jitu Rai won the silver medal in the men's 10-metre air pistol event at the ISSF World Cup Shooing at Munich. He shot an impressive 199.4 in the finals, after aggregating 583 in the qualification stage. Another Indian shooter, Prakash Nanjappa, finished seventh after scoring 97.1 in the finals, to go with his 584 in the qualification.


 


12-June


Current Affairs Global - 12 June 2014


1. The biggest soccer event, the 2014 FIFA World Cup kicks-off today as hosts Brazil will play against Croatia in the first match in Sao Paulo. The month-long tournament will see 32 nations compete for the most prestigious Gold Cup, which is dream of every footballer.


The Opening match will be preceded by a grand opening ceremony at the Arena Corinthians featuring live performances from some of the biggest stars of the world.


2. Reuven Ruby Rivlin, member of Likud party, was elected as 10th president of Israel on 10th June after defeating a long-time MP Meir Sheetrit by 63 to 53 in a secret run-off ballot. He will succeed Shimon Peres.


Rivlin was elected for a term of seven years after vote by members of the Knesset, the parliament of the Israel. In Israel, the president is elected by an absolute majority in the parliament. If no candidate has received an absolute majority by the third round of voting, a simple majority is sufficient.


3. Goalline technology will be used at FIFA World Cup matches for the first time in Brazil to avoid the referees- misjudgement on controversial kicks at goalline. The 2010 World Cup was a catalyst to introduce the technology after England were wrongly denied a goal, when the ball clearly crossed the line, in their Round 16 tie against Germany.


Dirk Broichhausen, managing director of the official provider of the system GoalControl, ensured the technology, according to tests, is 100% accurate. GoalControl chairman Bjoern Lindner explained that there are high speed cameras trained on each goal post to determine if an attempt on goal has crossed the line. The system will send a -GOAL- message to the referee-s watch if the ball is in.


4. The Forbes- list of world-s 100 highest paid athletes was published today. The list is topped by American boxer Floyd Mayweather and includes golfer Tiger Woods and tennis stars Roger Federer and Rafael Nadal. Mayweather earned USD 105 million during the past year for 72 minutes of work in the ring for fights against Canelo Alvarez and Marcos Maidana. It puts Mayweather at the top of Forbes- annual list of the world-s highest-paid athletes for the second time in three years.


Real Madrid and star Portugal footballer Cristiano Ronaldo is ranked 2nd with total earnings of $80 million and he also leads a group of 15 soccer players in the top 100. American basketball player LeBron James ranks third with earnings of USD 72.3 million, followed by Argentine footballer Lionel Messi who is ranked at fourth at USD 64.7 million. Woods is ranked sixth on the list with earnings of USD 61.2 million while Federer is ranked seventh on the list with earnings of USD 56.2 million.


5. World-s second largest economy, China has announced new measures in order to boost economic growth. These include plans to build railways, roads and airports along the Yangtze River - which connects China's less developed inland provinces to Shanghai. China's economy expanded by 7.4% in the first quarter of current year compared to 7.7% growth in the same period last year and Chinese authorities need to take some steps to boost growth.


China's central bank said it will encourage banks to lend more to exporters to boost shipments. At the same time, its exports increased by 7% in May but imports dropped by 1.6% due to lower demand. Its trade surplus jumped sharply to USD 35.9 billion in May compared to USD 18.5 billion in April.


Current Affairs India - 12 June 2014


1. Former Managing Director of BlackBerry Sunil Dutt joined Reliance Jio as its new President. He is an industry veteran with 27 years of extensive experience in the Indian mobile technology and telecom sector. He had quit BlackBerry India last year.


He has earlier worked for Hewlett Packard India Sales Pte Ltd as President, Personal Systems Group. He also worked in senior positions for companies like Samsung India Electronics Ltd, Nokia India Pte Ltd, Whirlpool of India Ltd, Wipro Ltd and Philips India.


2. Indian cricket team captain Mahendra Singh Dhoni is the only Indian sportsman to be featured in the Forbes- list of world-s 100 highest paid athletes which was published today. He is ranked 22nd in the list with total earnings of USD 30 million and endorsements worth USD 26 million.


Former SAP CTO Vishal Sikka appointed CEO of Infosys, N R Narayana Murthy to step down


India-s IT service Company, Infosys has appointed Vishal Sikka as the Chief Executive Officer and Managing Director of the company, as per press release published today. He will be the first outsider as well as not part of the co-founder-s club to lead the Bangalore-based IT firm. He will be inducted as a whole-time director of the board and CEO & MD (Designate) on June 14, 2014 and he will take over as CEO & MD from incumbent S D Shibulal on August 1, 2014. He will be based out of USA, first time in history of Infosys.


The board has also elevated U B Pravin Rao, President and whole-time director, as Chief Operating Officer, with effect from June 14, 2014. He will be based out of Bangalore and work closely with Vishal Sikka to revive fortune of the company.


Earlier Sikka was Chief Technology Officer at ERP giant SAP labs and he was considered as the brain behind SAP-s Hana platform, the quickest one from SAP to reach USD 1 billion revenue. He studied computer engineering at MS University Baroda and holds a Phd in Computer Science from Stanford University.


According to a press release, N R Narayana Murthy and S. Gopalakrishnan will voluntarily step down as Executive Chairman and Executive Vice-Chairman, respectively, on June 14, 2014. KV Kamath will be the re-appointed as non-Executive Chairman of Infosys board. Rohan Murthy will also leave the company on 14th June and Chairman-s office will be dissolved at the same time. Post 1st October, 2014, N R Narayana Murthy will be Chairman Emeritus of Infosys board.


India-s Exports jumped by 12.4%; Trade deficit jumped to 10 month high of USD 11.23 billion in May


India's exports jumped by 12.4% to USD 28 billion in May as demand from western developed economies picked up while imports dropped by 11.4% to USD 39.23 billion in the same month. Trade deficit jumped to 10-month high value of USD 11.23 billion in the same month. It was much lower than trade deficit of USD 19.37 billion in May 2013.


Gold imports declined by 72% to USD 2.19 billion in May compared USD 7.7 billion in the same month last year, which is the main reason behind steep drop in total imports.


Exports in the April-May period of current financial year increased by 8.87% to USD 53.63 billion compared with the same period in the previous fiscal year while Imports dropped by 13.16% in the same period to USD 74.95 billion, resulting in trade deficit of USD 21.32 billion.


India-s retail inflation eased to 3-month low of 8.28% in May


India-s Retail inflation, measured by Consumer Price Index, eased to 3-month low of 8.28% in May compared to 8.59% in April. Food Inflation eased marginally to 9.56% in the same month compared to 9.66% in the previous month. Vegetables were costlier by 17.5% in April compared to 16.8% in the previous month. Vegetable prices were down by 15.27% in May compared to 17.5% in April. Prices of cereals rise at 8.81% in May compared to 9.67% a month ago.


In April, Retail inflation in rural areas eased to 8.86% in May compared to 9.25% in April and in urban areas eased to 7.55% in May from 7.69% in April. Drop in retail inflation along with jump in exports and IIP growth numbers bring good news for Indian economy and for the newly elected Government.


IIP growth jumped to 3.4% in April; boosts recovery hopes


India-s Index of Industrial Production, the most important parameter to judge performance of industrial sector, jumped by 3.4% in April due to improved performance of manufacturing, mining and power sectors and higher output of capital goods compared to 0.5% contraction in the previous month of March. This growth increases hope of recovery of Indian Industrial sector. IIP growth stood at 1.5% in April 2013.


Manufacturing, which constitutes over 75% of the index, grew 2.6% in April compared to a growth of 1.8% a year earlier. Production of capital goods grew by 15.7% in April compared to contraction of 0.3% in same month last year. The mining sector grew by 1.2% in April compared to 3.4% drop a year earlier while Power generation increased by 11.9% in the same month.


 


13-June


Current Affairs Global - 13 June 2014


1. Thailand's junta will form an interim government by September to oversee political reforms which will be followed by elections to be held in one year.  General Prayuth Chan-ocha who led a coup last month announced but did not say whether the Cabinet would be made up of civilians or military personnel.


Thailand's military government has also lifted a curfew fully it imposed across the nation after seizing power last month. The measure was announced yesterday night and applied with immediate effect.


2. The International Union for Conservation of Nature (IUCN) released the -Red List- of Threatened Species yesterday which contains more than 73,000 species around the world. As per the list, the Japanese Eel has been listed as Endangered whereas the Brazilian Three-banded Armadillo (the mascot of the 2014 FIFA World Cup) remained Vulnerable. Also More than 90% of lemurs are facing extinction (91%), as per the list.


Of the 99 known species - which live only on the island of Madagascar off the coast of east Africa - 22 are critically endangered. Almost half are endangered, including the world-s smallest primate, Madame Berthe-s mouse lemur. Twenty lemurs were listed as vulnerable to extinction.


3. The UN General Assembly has elected Ugandan Foreign Minister Sam Kahamba Kutesa as President of its upcoming 69th session of the United Nations General Assembly (UNGA). The theme for the 69th session is -Delivering on and implementing a Transformative Post-2015 Development Agenda-.


It was Africa's turn to nominate a President for the upcoming 69th General Assembly session and Kutesa was nominated by the Africa Group. He was also the only candidate nominated for the Presidency. He replaced the present John William Ashe of Antigua and Barbuda, who led the 68th session of the UNGA.


4. Global Credit ratings agency Fitch has warned South Africa that its credit rating may be lowered due to a five-month platinum strike in the African country which is also member of BRICS. Fitch changed the country's outlook from stable to negative, citing poor economic prospects and rising public debt. Its economy contracted by 0.6% in the first quarter mainly due to fall in platinum production.


Current Affairs India - 13 June 2014


1. India has become a permanent Signatory to Washington Accord which will enable global recognition of Indian degrees in engineering and technical education. With this, India has joined a select group of 17 countries that are permanent signatories to the Accord. This is a significant achievement of India.


It is an international agreement amongst prominent nations with the charter of promoting mobility and quality assurance of engineers across international boundaries. New Delhi was given a signatory status at a meeting of the International Engineering Alliance of Washington Accord member countries in New Zealand today. Human Resource Development Minister, Smriti Irani said today that the status will ensure that highest quality assurance standards are implemented in technical and engineering programmes to provide global mobility to India's engineering graduates.


2. Famous Indian scientist Rasik Ravindra has been unanimously elected as member of the UN's body focused on oceans and law of the sea. Ravindra, India's candidate for member of the Commission on the Limits of Continental Shelf (CLCS), was elected during the 24th Meeting of States Parties of the United Nations Convention on the Law of the Sea yesterday. He secured support of all the 111 members present and voting and his term will be till 15th June 2017.


He is one of India's highly qualified scientists and has extensive experience in different spheres of geosciences. He has served as Director of National Centre for Antarctic and Ocean Research (NCAOR) from 2006-2012 and has been a professional geologist with the Geological Survey of India from 1971 to 2005.


3. Former Gujarat Home Minister Amit Shah was elected as President of Gujarat Cricket Association (GCA) today. He succeeded Narendra Modi who had stepped down after shifting to New Delhi last month. At a special General Body Meeting, GCA -unanimously- elected Amit Shah. Modi, who had replaced Congress leader and former Deputy CM Narhari Amin as GCA chief in September 2009, had resigned on May 30 from the post.


 


14-June


Forex Reserves increased by USD 203.2 million to 312.585 billion


India-s Forex reserves were increased by USD 203.2 million to 312.585 billion for the week ended 6th 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 338.9 million to 285.630 billion for the same week. Foreign currency assets are 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 also increased by USD 2.7 million and USD 37 million respectively for the same week. Gold value was decreased by USD 175.4 million to USD 20.790 billion for the same reporting week.


 


15-June


Current Affairs Global - 15 June 2014


1. Global credit rating agency Standard & Poor-s has improved rating outlook of United Kingdom to stable amid signs that the country-s economy will continue to grow at a healthy rate through next year.  The reassessment issued this week recast S&P-s view on the UK-s credit rating to -stable- from -negative.- The agency also reaffirmed its top-notch -AAA- credit rating.


But S&P warned that the rating could be in danger if Britain leaves the European Union. Defecting from the European Union would be a significant blow because the UK has considerable trade ties to the region and could lose inbound investments, S&P said.


2. Australia leads the ICC test rankings followed by South Africa, England, Pakistan and India in the firsdt fifth places as per the latest ICC ranking published in Dubai on 13th June. South Africa-s A B Devilliers secured no 1 rank in batsmen-s list followed by Shivnarain Cahnderpaul and Kumar Sangakkara. India-s Cheteshwar Pujara is at number 7 while Virat Kohli secured No 10 rank. Dale Steyn is the top ranked bowler while India-s Ravichandran Ashwin is placed at the 8th ranking.


Current Affairs India - 15 June 2014


1. Prime Minister Narendra Modi dedicated India-s largest warship INS Vikramaditya to the nation yesterday while visiting the warship off to Goa Coast. This is his first visit to a warship and he also pitched for making India self-reliant in manufacturing defence equipment to reduce its dependency on imports.


This visit was meant to boost morale of Navy staffs amid series of mishaps and to show PM-s priority to improve Indian Navy-s military strength. Navy is an integral part of India-s defence system and the new Government is planning to clear all halted defence deals and orders to boost its strength and efficiency. He said -It is an important day for our nation. It is a golden day in Indian Navy-s history. For me, it is a matter of pride and happiness that INS Vikramaditya is joining the Navy. It is a historic step-.


2. Prime Minister Narendra Modi arrived on a two-day visit to Bhutan today. This is his first foreign destination since he took over as Prime Minister. This visit was aimed to build "unique and special relationship" with the neighbouring country. He was received by Prime Minister Tshering Tobgay at the Paro airport and was given a ceremonial guard of honour.


He is accompanied by External Affairs Minister Sushma Swaraj, National Security Adviser Ajit Doval and Foreign Secretary Sujatha Singh. Modi will meet Bhutan's King Jigme Khesar Namgyel Wangchuk and Prime Minister Tobgay during his visit with the aims of exploring ways to boost bi-lateral ties, particularly in trade and hydro-electricity.


3. In a first major bureaucratic reshuffle, the Modi Government has appointed Shaktikanta Das as the new Revenue Secretary. He will replace Rajiv Takru, who has been moved to the Department of North Eastern Region (DONER).


Shaktikanta Das, a 1980 batch IAS officer of Tamil Nadu cadre, was in the Finance Ministry for five years before moving to the Chemicals & Fertiliser Ministry as Fertiliser Secretary on December 30 last year. He has a deep experience in budget making as he was Joint Secretary in the Budget Division under the Department of Economic Affairs. With this appointment, the budget team will have Arvind Mayaram (Finance and Economic Affairs Secretary), Shaktikanta Das (Revenue Secretray), R P Wattal (Expenditure Secretary) G S Sandhu (Financial Services Secretray) and Ravi Mathur ((Disinvestment Secretary).


4. Narmada Control Authority (NCA) gave its approval to Gujarat government to raise the height of Sardar Sarovar Dam on Narmada River in Kevadia by approximately 17 meters to 138.68 meters from present 121.92 meters on 12th June. It also approved Gujarat government-s plan to install 30 gates on it.


The approval to raise the height came after a wait of eight long years as it was stuck in political and bureaucratic bottlenecks for these years. Last time the height of the dam was raised in 2006. This step will help to increase irrigation area which will be covered. Besides irrigation in Gujarat and Rajasthan, the project will also benefit Madhya Pradesh and Maharashtra with more electricity.


5. Indian scientist professor Tejinder Virdee, one of the founding fathers of the Compact Muon Solenoid (CMS) which ultimately led to the discovery of the Higgs Boson, has been awarded with an honorary knighthood by Queen Elizabeth II for his contribution to the field of science. The Indian-origin physicist from Imperial College London was named a Knight Bachelor for his services to science in the Queen-s Birthday Honours List, released 13th June.


He was awarded alongside Oscar winning actor Daniel Day-Lewis, author Hilary Mantel and Stephen Sutton. Actress Angelina Jolie was made an honorary dame — the female version of a knight. Jolie, a UN special envoy, received the honour for her work combating sexual violence in war zones.


6. Leading NRI industrialist Lord Swraj Paul has been honoured with the -Lifetime Achievement Award- by a UK-based business association for his outstanding contribution to the industry, education and philanthropy. Lord Paul-s daughter Anjli received the award at the Black Country Asian Business Association-s annual awards dinner last night at Wednesbury in West Midlands as he was on a business trip to the US.


He is founder Chairman of the Caparo Group which now produces a range of steel-based industrial and engineering products. He was also awarded the Padma Bhushan by the Government of India in 1983.


7. ACC has appointed Harish Badami as CEO and Managing Director designate with effect from 1st August. Badami will replace Kuldip Kaura who will demit office on 13th August before his term expires on 31st December this year. Badami has 25 years of experience in the chemical industry.


8. India have finished at ninth position in the on-going men's hockey World Cup tournament being held in Netherlands. India secured a comfortable 3-0 win over Asian champions South Korea in a play-off match for the ninth place at The Hague, Netherlands yesterday.


16-June


Current Affairs India - 16 June 2014


1. Famous Malayalam scientist-turned-writer C Radhakrishnan has been shortlisted for the prestigious Moortidevi Award for 2013 for his novel "Theekkadal Katanhu Thirumadhuram". The novel is a biographical account of Thunchat Ramaanujan Ezhuthachan, widely regarded as the father of Malayalam language. Moortidevi Award carries a cash prize of Rs four lakh, a plaque and a statue of goddess Saraswati.


Current Affairs Global - 16 June 2014


1. Australia retained the men-s hockey World Cup title after defeating the Netherlands by 6-1 in the final at the Kyocera Stadium yesterday. Last time, Australia won the hockey world cup in New Delhi in 2010. With its second successive World Cup victory, Australia now equals Germany which is the other nation to have won hockey world cup two consecutive times.


2. Seven-time Formula One champion, Michael Schumacher is out of coma now after months of struggle. Schumacher sustained severe head injuries in a ski accident in the French Alps last year, since then he has been treated in a French hospital. His spokeswoman said today that Schumacher is not in a coma anymore and left the CHU Grenoble (hospital) to continue his long phase of rehabilitation.


India-s overall inflation jumped to 6.01% in May due to higher food prices


India-s overall inflation, measured by the wholesale price index, jumped to 5-month high of 6.01% in May due to higher prices of food, fish, poultry and vegetable items. The Wholesale Price Index-based inflation stood at 5.20% in April and 4.58% in May last year. Rising prices of food items pushed inflation up further. Potato prices were up 31%, rice price jumped by 13% and fruits prices jumped 19% in May.


Manufactured products inflation hit a 13-month high at 3.55% in May compared to 3.15% in the previous month while fuel and power group inflation stood at 10.53% in May compared to 8.93% in previous month.


With lower than normal monsoon forecast for this year, India-s overall inflation is expected to increase soon. RBI may wait till that time before cutting interest rates to boost growth. Also new government is expected to take new measures to arrest steep price rise due to lower monsoon rain.


 


17-June


Current Affairs Global - 17 June 2014


1. Juan Manuel Santos has won Presidential re-election in Colombia and re-elected as the President of the country. He won nearly 51% of the total votes while his key opponent Oscar Ivan Zuluaga got 45% of total votes.


He was re-elected due to his 18-month-old peace talks to end the longest-running conflict involving Columbia. Post this win, he will take oath for a new four year term in August this year.


2. FDI (Foreign Direct Investment) inflow to China dropped in May to its lowest level in last 16 months mainly due to slow growth. China-s FDI in May dropped by 6.7% in May to USD 86 billion compared to same month last year.


This drop in FDI was mainly due to lower economic growth. China-s economic growth dropped to 7.4% in first quarter of current year compared to 7.7% growth seen in the previous quarter.


Current Affairs India - 17 June 2014


1. Uttar Pradesh governor B.L. Joshi resigned today as the newly elected government has desired all the governors appointed by the previous UPA government to resign. BJP leader BJP leader Subramanium Swamy directly asked all such governors to resign.


Other governors including Margaret Alva (Rajasthan), J.B. Patnaik (Assam), M.K. Narayanan (West Bengal), Sheila Dikshit (Kerala) and H.R. Bhardwaj (Karnataka) are also expected to follow the step of Uttar Pradesh Governor very soon.


2. The Indian government has appointed former Chief Justice of India R.C Lahoti as arbitrator in the Rs. 20,000 crore tax dispute case with UK telecom giant Vodafone. The government-s decision was in response to an arbitration notice served by Vodafone International Holdings B.V. in April under the Bilateral Investment Protection and Promotion Agreement between India and the Netherlands for resolving the dispute.


The Supreme Court had earlier ruled in Vodafone-s favour in 2012, saying the company was not liable to pay any tax over the acquisition of assets in India from Hong Kong-based Hutchison. The former UPA government has later amended the tax laws with retrospective effect to undo the Supreme Court judgement and claim taxes.


While the basic tax demand was Rs. 7,990 crore, the total outstanding, including interest and penalty, is estimated to have risen to Rs. 20,000 crore. Indian government is now looking to end the deadlock as soon as possible to improve investors- confidence.


3. Delhi Government has announced today that Delhi has become the first kerosene-free city in the country after successful implementation of the -Delhi: A Kerosene-Free Scheme- launched in 2012. The scheme was launched to stop issuing subsidized kerosene in the city. 


The scheme was launched in 2012 in collaboration with three Oil Marketing Companies and Union Ministry of Petroleum and Natural Gas for which Delhi Government had incurred an expenditure of Rs 62 crores. Under the scheme people holding Juggi Ration Card (JRC), Below Poverty Line (BPL) and Antodaya Ann Yojana (AAY) were provided free gas connection along with LPG filled cylinder, two burner gas stove, regulator and suraksha pipe.


4. Indian Pharmaceutical Company Cipla Ltd has acquired 60% stake in a new company in Sri Lanka for USD 14 million to market its product in the country. Cipla (Mauritius) Ltd, a wholly owned subsidiary of the Indian company, has signed a definitive agreement with its existing Sri Lankan distributor for acquisition of 60% stake in a new company. The new company will market the Cipla-s products in Sri Lanka and it will help Cipla to expand its business in the country.


 


18-June


Current Affairs Global - 18 June 2014


1. Executive Committee of Interpol has appointed Germany-s Juergen Stock as the new Interpol Secretary General. He will succeed present Secretary General Ronald K Noble of the USA. His appointment has to be approved by the Supreme Governing body of Interpol, the General Assembly which will meet in November this year. Post that, he will take charge after Noble steps down in 2015 following three successive tenures.


With this appointment announcement, India lost the race as CBI Director Ranjit Sinha was shortlisted for the post. He was also the first Indian to be shortlisted for the post of Secretary General of Internal and had appeared in the interview at Interpol headquarters in Lyon, France recently.


2. Social networking giant Facebook announced the release of its latest messaging app Slingshot on 17June which enables users share selfies and other short-lived videos and pictures. But friends have to share something before they are able to see images from others, according to the announcement.


The app is now available for iPhone and Android devices in the United States. Slingshot is an attempt to take users away from the popular messaging app Snapchat.


Current Affairs India - 18 June 2014


1. The DRDO-developed air defence missile system was successfully test-fired by the Army today which hit an unmanned aerial vehicle. The supersonic missile intercepted the very small unmanned fast moving vehicle which was tracked by the multi-function radar continuously. This will help DRDO to induct the same into operational services for the Indian army.


DRDO has been working on this for more than two decades as a part of its Integrated Missile Development Programme.


2. Union Water Resources Minister, Uma Bharti has launched a nationwide tree plantation drive and public awareness programme to save rivers.  She also planted plantlets on the banks of river Yamuna in Delhi yesterday in memory of victims of Uttarakhand tragedy that occurred in June last year. Also as part of plan, Water Resources Ministry will also repair the banks of rivers that were damaged during the Uttarakhand tragedy.


3. Subhalakshmi Panse, former CMD of Allahabad Bank, has joined the board of Federal Bank as an Independent Director. She was also a member of the RBI appointed committee on Corporate Governance and Chairman of the IBA committee on Cheque Truncation System - National Archive. Currently, she is working as the Chairman of the Quality Review Board of the Indian Institute of Actuaries.


4. Indian medium pace bowler Stuart Binny took six wickets for four runs yesterday while planning for India in the second ODI match against Bangladesh in Dhaka to create a new record. With the performance, India was able to defend their lowest ever score of 105 against Bangladesh.


He broke Indian leg spinner Anil Kumble's 21-year-old ODI record with a great 4.4-2-4-6 spell. Kumble had taken 6 wickets for 12 runs while playing in the Hero cup final against the West Indies at Eden Gardens in 1993.


 


19-June


Current Affairs Global - 19 June 2014


1. The Federal Reserve continued to reduced its aggressive monthly bond buying program known as Quantitative Easing as per announcement made yesterday. The central bank now reduced its monthly purchases of Government-linked bonds by another USD 10 billion to USD 35 billion.


The Federal Reserve has also left its benchmark interest rate unchanged at the near-zero level since December 2008. Fed is expected to hold interest rate at record low level at least till end of 2014 after the bond buying program ends.


The Federal Reserve has also lowered US economic growth projection due to harsh winter. It has now projected US economic growth of between 2.1% and 2.3% this year compared to earlier projection of 2.8% to 3%.


2. Spain's new king, Felipe VI, was sworn in yesterday after his father King Juan Carlos formally resigned Wednesday. It is the first royal transition in Spain since democracy was restored in the 1970s. The new king also promised to uphold the constitution while taking oath.


3. World Number One Chess player Magnus Carlsen won the FIDE World Rapid Chess Championship title in Dubai. He scored 11 out of 15 points to win the Gold medal while Aremian Fabiani Caruana won Silver medal and India-s Vishwanathan Anand won the bronze medal in the tournament. In his last game against Anand had to settle for a draw yesterday against Teimour Radjabov.


4. Former Bangladesh Cricket team Captain of Mohammad Ashraful was banned for eight years by the disciplinary panel set up by the Bangladesh Cricket Board. He was found guilty on four charges of fixing matches in Bangladesh Premier League of 2013. He was under suspension since June 2013 after he admitted to the ICC's Anti-Corruption and Security Unit that he had indulged in fixing BPL matches.


Current Affairs India - 19 June 2014


1. Government has reconstituted six important Cabinet Committees which are related to Security, Political Affairs, Parliamentary Affairs, Economic Affairs, Accommodation and Appointments. Prime Minister Narendra Modi will head the Cabinet Committees on Security, Political Affairs, Economic Affairs and Appointments Committee of the Cabinet. The Cabinet Committees on Parliamentary Affairs and on Accommodation will be headed by the Home Minister Rajnath Singh.


Prime Minister had scrapped the Cabinet Committees related to Prices, World Trade Matters, UIDAI and Management of Natural Calamities earlier this month.


2. Chhattisgarh Governor Shekhar Dutt has resigned yesterday as NDA government has been pressing for the resignation of Governors appointed by previous UPA government. His tenure was supposed to end in January 2015.


3. India-born plant scientist Sanjaya Rajaram has been awarded with the USD 250,000 World Food Prize for his breakthrough achievement in increasing global wheat production by more than 200 million tonnes after the Green Revolution.


His successful method for cross-breeding winter and spring wheat varieties help him to develop plans with higher yields and a broad genetic base. More than 480 high-yielding wheat varieties bred by Rajaram have been released in 51 countries which were widely adopted by small- and large-scale farmers. Rajaram followed Nobel Peace Prize Laureate Norman E Borlaug at the International Maize and Wheat Improvement Center, CIMMYT, leading its Wheat Program from 1976 to 2001.


4. Capital market regulator SEBI has announced some measures today. It has decided to fix the minimum dilution of stake to public in an initial public offer at 25% or ? 400 crore whichever is lower. It has also decided to recommend to amend the securities contract regulation so that all the listed companies need to maintain minimum public shareholding of 25%.


PSUs, currently maintaining 10% of minimum public shareholding, will be given 3 years timeframe to maintain that limit. With this decision, Government will be able to raise nearly Rs 60,000 crore through sale of additional stakes from PSU companies.


It also took decision regarding changes in offer-for-sale mechanism where 10% of the issue size will be reserved for retail investors and also they may be offered some discount.


5. SAP Labs India managing director Anirban Dey resigned from the company, as per the announcement made yesterday. His exit comes less than a week after the announcement of former SAP CTO and Board member Vishal Sikka as Infosys' next CEO.


6. Famous Jain philanthropist, educationist and businessman, Shrenik Kasturbhai Lalbhai passed away today after a prolonged illness. He was 89. Shrenikbhai was the second generation of Kasturbhai Lalbhai, a business magnet of the pre-Independence era. Besides being a businessman, he made remarkable contributions towards education and preservation of Jain pilgrimage places.


 


20-June


Current Affairs Global - 20 June 2014


1. Famous Indian born author, Salman Rushdie has been awarded with the Pen Pinter prize for the current year 2014 for his outstanding literary output and support for freedom of expression. Rushdie is best known for his novel 'Midnight's Children', for which he won the Booker followed by the one-off Best of Booker in 2008. He also wrote the controversial novel 'The Satanic Verses'. He will be presented with his prize at the British Library in London on 9 October.


The award was established in 2009 by writers' charity English Pen in memory of British writer Harold Pinter. His prize will be shared with an International Writer of Courage, selected by him in association with English Pen's Writers at Risk committee.


2. The World Bank has downgraded global economic growth projection by 0.5% today but expects growth momentum to pick up in coming months. Terming the overall growth prospects for South Asia as "disappointing", the Bank said that developing economies should now shift focus from demand management in order to curb inflation to more growth oriented policies by reducing interest rates.


The World Bank has projected a 5.5% GDP growth for India in 2014, which will increase to 6.3% and 6.6% in 2015 and 2016 respectively.


Current Affairs India - 20 June 2014


1. India has been ranked at 143rd position out of 162 countries surveyed, as per the latest annual ranking of Global Peace Index published today. As per the ranking, India is ranked among 20 most violent places in the world which said Indian economy took a hit of USD 177 billion due to violence last year. Within South Asia, Bhutan has been ranked as the most peaceful country, followed by Nepal, Bangladesh and Sri Lanka. India is ranked fifth in the region; better than Pakistan at sixth and Afghanistan at seventh.


Iceland continues to top the list as the world's most peaceful place while Syria has replaced Afghanistan as the most violent place in the world.


2. Indian Railways have increased the passenger fare by 14.2% in all classes and freight charges by 6.5% today which will be effective from 25th June. For passenger fare category, a flat 10% increase has been done in all classes and an additional 4.2% increase was done as per fuel adjustment component linked revision scheme.


Earlier UPA government announced this revision just after the Lok Sabha election which was withdrawn immediately. This fare hike was required in order to make Indian railways financially independent as it is losing Rs 900 crore every month on passenger segment.


3. BJP MP from New Delhi constituency Meenaksi Lekhi took oath as a New Delhi Municipal Council (NDMC) member and made some announcements ranging from construction of flats for economically weaker sections to making the posh NDMC area plastic-free. According to the NDMC Act 2011, the MP from the constituency and MLAs from New Delhi and Delhi Cantonment Assembly constituencies automatically become members of the council.


In a major relief for the employees of the civic body, the BJP MP directed the council to provide subsidy in power bills for even those who do not reside in the areas under the jurisdiction of NDMC. Till now, subsidy is only provided to those employees who reside in the NDMC areas.


4. Senior IAS officer Rajeev Topno was appointed Private Secretary to Prime Minister Narendra Modi on Wednesday. He is a 1996 batch IAS officer of Gujarat cadre and was already working as Director in the Prime Minister-s Office under former PM Manmohan Singh.


5. India is now the largest importer of Oil from Nigeria, surpassing the US. The US has recently reduced is demand for Nigeria's crude oil in recent months. India now buys about 30% of its 2.5 million barrels of production which is much higher compared to US import of about 250,000 barrels a day.


6. ReNew IT, a Bangalore-based Microsoft registered refurbisher and provider of refurbished computers, servers and other computing infrastructure, has been awarded with the FKCCI Innovation Excellence Awards for MSMEs 2014 for its 'Young Innovator' category.


ReNew IT was selected for its contribution towards bridging India-s wide digital divide, stringent computer refurbishment process and industry leading refurbishing specifications.


 


21-June


 


22-June


 


23-June


Current Affairs Global - 23 June 2014


1. Former Prime Minister of Norway, Gro Harlem Brundtland was awarded with the first Tang Prize in sustainable development. The Tang Prize was awarded to her by the Tang Prize Foundation on 18th June. She was awarded the prize for her innovation, leadership and implementation of sustainable development.  She is also known as the Godmother of sustainable development.


Samuel Yin established the Tang Prize in December 2012. It is awarded to encourage individuals by recognizing and supporting scholars for conducting revolutionary research in the four major fields of Sustainable Development, Biopharmaceutical Science, Sinology and the Rule of Law. The winners of the prize will receive a cash reward of 50 million New Taiwan dollar (NT$) which is equivalent to 1.7 million US dollars.


2. World Number No 1 Chess Player Norway-s Magnus Carlsen won the FIDE World Blitz Chess Championship held in Dubai last week. He secured Gold medal with 17 points from the 21 rounds to emerge the winner in the super-fast 5 minutes rounds of chess. Russia-s Ian Nepomniachtchi won the Silver medal and and Hiraki Nakamura of US got the Bronze medal. Carlsen became the first chess player ever to hold three world championship crowns.


Current Affairs India - 23 June 2014


1. India has moved up to 58th rank for 2013 in terms of foreign money lying with Swiss banks, but it accounts for just 0.15% of an estimated USD 1.6 trillion total global wealth held in Switzerland's banking system. India was ranked at 70th position for 2012, but recent Government initiatives to bring back black money from Swiss banks was the main reason for jump in ranking.


The UK has retained its No 1 rank with highest share of close to 20% of global wealth in Swiss banking system. UK has the highest exposure of 277 billion Swiss francs, followed by the US (193 billion Swiss francs), West Indies (100 billion Swiss francs), Germany (52.4 billion Swiss francs) and Guernsey (49.6 billion Swiss francs). China continues to rank higher than India, at 30th place.


2. The Central Government has formed a high level committee to inquire into the gas leakage incident in Bhilai Steel Plant in Chhattisgarh last week which claimed 6 lives and left nearly 40 workers injured. The committee will be headed by K.K. Mehrotra, former CMD, Metallurgical and Engineering Consultants (India) Limited. The Committee will submit its report to the Steel Ministry by 17th of next month.


3. Mayaram panel, which was formed to remove ambiguity between FDI (Foreign Direct Investment) and FII (Foreign Institutional Investment) and simplify norms and headed by Finance Secretary Arvind Mayaram, has submitted its report last week. It has suggested that foreign investment of over 10% in a listed company should be treated as FDI and investment from NRIs on a non-repatriable basis should be considered as domestic investment.


The panel on rationalizing definitions of FDI and FII also said foreign investment in an unlisted company should be treated as FDI. If the stake is not raised to 10% or above, then the investment can be treated as portfolio investment. Foreign direct investment is subject to sectoral caps.


4. Famous Hindi poet Kedarnath Singh and author of famous books -Abhi bilkul abhi- and -Yahan se dekho- has been chosen for the prestigious Jnanpith award for 2013. He will be the recipient of 49th Jnanpith award. With this, he will be the 10th Hindi writer to receive the award. The award includes. Rs 11 lakh and a citation, a release from the Jnanpith award committee said.


5. Famous Tamil film director and producer, Ramanarayanan passed away yesterday in Singapore. He was 65. He has directed 125 films and holds the world record of directing the maximum number of movies by a director.


6. Former BCCI president N Srinivasan, was unanimously elected as the chief of the Tamil Nadu Cricket Association (TNCA) today for the 14th consecutive year. Also all the sitting office bearers and executive committee members were elected unopposed during the 84th annual general body meeting of the TNCA.


7. Indian chess player Viswanathan Anand finished at joint fifth at the World Blitz Championship that was held in Dubai recently. Anand started the day on 7.5 points from the first 11 games, scored another six points out of last 10 to end on 13.5 points in all which gave him the joint fifth place. The five-time world champion finished seventh overall when the tie was resolved. Magnus Carlsen won Gold medal in the same championship.


 


24-June


 


25-June


Current Affairs Global - 25 June 2014


1. The US economic growth dropped to five-year low in the first quarter of 2014, as per latest data published. The economy contracted at an annualized rate of 2.9% in the first three months of the year. This was worse than the previous estimate of a 1% contraction.


The key reason for this economic contraction was unusually cold weather for a prolonged time period which affected business activity and industrial production significantly.


2. Thousands of platinum miners at South Africa's biggest platinum mining firms have returned to work today after unions signed a wage deal to end a five-month strike. Employees at Aplatinum firms will now have to undergo medical checks and safety training before they begin work again. The five-month long strike had a significant impact on South Africa-s economic growth due to its dependency on platinum output.


3. Abu Dhabi's state-owned Etihad Airways has announced its acquisition of 49% stake in Italy's Alitalia. Alitalia, which has debts of about 800 million euros voted to accept Etihad's offer to invest in the company. This deal will help travelers of Etihad Airways ore choice while travelling to Italy.


4. Mercedes driver Nico Rosberg won the Austrian Grand Prix held on 22nd June. This is his third win in this season. His teammate Lewis Hamilton secured 2nd place in the race followed by Valtteri Bottas of Williams at 3rd place. With this win, ercedes extend their lead in the constructors' standings to 301 points with Red Bull trailing in a distant second place with 143 points.


Bottas's teammate Felipe Massa was fourth, followed by Ferrari's Fernando Alonso, Sergio Perez of Force India and McLaren's Kevin Magnussen in the same race. Sergio Perez of Sahara Force India staged a remarkable recovery to finish sixth from 15th on the grid to earn 10 points for Sahara Force India from the Formula 1 Austrian Grand Prix.


Current Affairs India - 25 June 2014


1. India's economic confidence jumped by 6 points to 66% in May compared to the previous month as India-s new business friendly government headed by PM Narendra Modi too charge last month. With this, India has become the fourth most economically confident country after Saudi Arabia, Germany and China. Saudi Arabia led on the parameter with 87% of its people surveyed being optimistic about their economy.


The survey conducted among 19,242 people in 25 countries, also revealed that Indian are now the most optimistic about the economic growth for the coming six months, for the first time. India is followed by Brazil (2nd), Saudi Arabia (3rd), Indonesia (4th) and China (5th).


2. 'Mobile Seva', a nationwide initiative conceptualized, funded and implemented by the Department of Electronics and Information Technology, was chosen in the list of the second place winners of the 2014 UN Public Service Awards, along with Bahrain, Brazil, Cameroon, Republic of Korea and Spain. This initiative was launched to enable delivery of public services electronically through the mobile platform.


The vision of Mobile Seva is to mainstream mobile governance in India as a new paradigm for e-delivery of public services through mobile devices. It leverages the massive penetration of mobile phones in India to substantially enhance access to electronic services, especially in the rural areas. It benefits the poor, illiterate, disabled, elderly, and the women in accessing e-governance services as access to mobile phones is much higher in these segments of the population as compared to access to the Internet.


3. The Dibrugarh-bound Rajdhani Express derailed near Chapra in Bihar-s Saran district today at around 2:11 AM in which four passengers were killed and nearly 40 passengers were injured. Total 12 coaches including pantry car and power car were derailed in the accident at the Golden Ganj station, about 75 km from Patna. Railway Minister Sadananda Gowda rushed to the accident spot today.


4. Delhi University Vice-Chancellor Dinesh Singh resigned yesterday afternoon following issues with Central Government and the University Grants Commission (UGC) regarding DU-s four-year undergraduate programme (FYUP). His resignation will go to the Vice President of India, who is also the Chancellor of the varsity.


After the day-long confusion and chaos due to the ongoing tussle between the University Grants Commission (UGC) and Delhi University (DU) over the four-year undergraduate programme (FYUP), admissions to colleges for this academic session had also been deferred.


5. Former TATA Group Chairman Ratan Tata was awarded with an honorary doctor of laws degree from York University in Toronto, Canada. The award was given for his achievements in promoting innovations, exemplary leadership and corporate social responsibility. It was conferred at the 2014 spring convocation of York University's Schulich School of Business by Chancellor Gregory Sorbara.


6. S L Bhojegowda, an advocate from Karnataka, has been elected as the Vice-Chairman of Bar Council of India, New Delhi. He was elected to Karnataka State Bar Council earlier and then in 2013 into Bar Council of India, New Delhi. With this appointment, he created history of being the first-ever advocate from Karnataka to be elected as the Vice-Chairman of Bar Council of India.


7. The Government extended the validity of concessional excise duty regime provided for the capital goods, automobiles and consumer durables sectors in interim budget in February for six months till end of December this year. This decision was taken before submitting final budget proposal on 11th July and this move will help capital goods and auto sectors which have been struggling with dismal growth for a long time.


In the interim Budget, the UPA Government had brought down the excise duty on small cars, scooters, motorcycles and commercial vehicles from 12% to 8% to boost auto sector. Excise duty was cut for SUVs and large cars from 30% to 24% and for mid-sized cars from 24% to 20%.


8. Indian state run Airlines Company, Air India has formally become part of the global airlines' grouping, Star Alliance. This much awaited and significant move will enable seamless travel to over 1300 destinations for the passengers of Air India.


After a seven-year-long wait, the Star Alliance Chief Executive Board (CEB) has given its final node to include Air India into the group at its meeting in London recently.


9. India-s capital market regulator, the Securities and Exchange Board of India has reorganized the committee that advises it on matters related to secondary market, including suggesting steps to improve market safety, efficiency and transparency. The capital market regulator has listed the revamped expert panel.


The Secondary Market Advisory Committee is chaired by IIM Ahmedabad Professor and former whole-time member of SEBI, Jayanth R Varma. Besides him, the expert panel consists of 17 members, including top executives of nation-s leading bourses as well as government representatives.


Members of the committee include BSE-s Ashish Kumar Chauhan, NSE-s Chitra Ramakrishna, and MCX-SX- Saurabh Sarkar, Managing Director of ICICI Securities Anup Bagchhi and Kotak Mahindra Bank Joint MD Dipak Gupta. Anupam Mishra from Department of Economic Affairs, Ministry of Finance, and some SEBI officials are also part of the panel.


10. India-s all women bank Bharatiya Mahila Bank Ltd (BMB) and trade body Gujarat Chamber of Commerce and Industry (GCCI) have announced that they will jointly facilitate women entrepreneurs by addressing their finance requirements for technological up-gradation, marketing, diversification in their businesses. BMB and the Business Women Wing (BWW) of GCCI have signed a memorandum of understanding to promote the cause of women entrepreneurs by utilizing the services of each other.


As per the terms of MoU, both of them would jointly conduct training workshops for GCCI-BWW members on the procedure for availing financial assistance. BMB will set up a simplified application process for loans of less than Rs 5 lakh by the GCCI-BWW members.


11. With about 9% share in total investments attracted by the manufacturing sector in the country as on March 31, 2013, Gujarat was ranked at fifth position among other states, as per the list published by the trade body, Associated Chambers of Commerce and Industry of India (Assocham). This list confirms Gujarat-s emergence as a prominent manufacturing investment hub. Out of the total investments worth over Rs. 122 lakh crore attracted by various sectors across India as of March 2013, manufacturing sector attracted nearly 25% share with over Rs. 30 lakh crore worth of investments.


Odisha accounted for the highest share of over 18% in total investments attracted by the manufacturing sector across India as of March 2013 followed by Karnataka (over 14% share), Jharkhand (over 13% share), Andhra Pradesh (about 10% share) and Gujarat (over 9% share) amid top five states with maximum share in investments attracted by manufacturing sector.


12. Andhra Pradesh Grameena Vikas Bank (APGVB) has won the Platinum Award for 'excellence'- in banking awarded by Skoch Group. K Lakshmana Rao, Chairman of APGVB, has received the award from Sri Vinod Rai, former CAG, and Sameer Kochar, Chairman, Skoch Group. Skoch Financial Sector Awards was set up to recognise people, projects and institutions that have made significant contributions to the cause of financial inclusion and financial deepening, among others.


13. Indian shooter Jitu Rai became the first Indian to win two medals in a single World Cup competition after his first-ever Gold medal and One Silver at the ongoing ISSF World Cup in Maribor, Slovenia. With this he also became the first Indian to win three medals in successive ISSF Shooting World Cup.


He entered shooting's record books on Thursday with his gold in men's 10m air pistol at the World Cup. The gold medal was Rai's third podium finish in nine days after bagging a silver medal in the previous ISSF World Cup in Munich on June 11.


14. Indian hockey team is ranked at ninth position among men-s teams in the FIH World Hockey Rankings published yesterday. Indian hockey team secured 1458 points after finishing at ninth position in the recently concluded World Cup held at The Hague, Netherlands earlier this month.


World champion Australia secured 1st rank followed by Netherlands (2nd), Germany (3rd), Belgium (4th), England (5th), New Zealand (6th), Argentina (7th), South Korea (8th) and Spain (10th).


 


26-June


Current Affairs Global - 26 June 2014


1. Indian origin judge, Justice V. K. Rajah has been appointed as the eighth Attorney-General of Singapore on Wednesday. He succeeds Steven Chong. President Tan also appointed Rajah (57) as a Member of the Presidential Council for Minority Rights for a term of three years.


2. N Srinivasan has been formally appointed the first Chairman of the International Cricket Council. The 52-member council elected Srinivasan as the Chairman and Bangladesh-s Mustafa Kamal as the ICC President at its annual conference in Melbourne today. He will assume office from 1st July.


Srinivasan has been barred by the Supreme Court of India from carrying out his duties as BCCI President due to ongoing investigations into the match-fixing allegations in the previous edition of IPL, though the apex court has allowed him to nominate himself for ICC Chairman Post.


Bangladesh's Mustafa Kamal became the 11th President of the International Cricket Council (ICC). With this he has become the first Bangladeshi to hold the post. He succeeded former ICC President Alan Isaac.


3. FIFA banned Uruguay striker Luis Suarez from all football activities for four months today for biting Italian defender at the World Cup match. This ban rules him out of the rest of the world cup tournament and the start of the upcoming Premier League season. FIFA also fined the Liverpool striker 100,000 Swiss francs (USD 112,000).


Suarez bit the shoulder of Italy defender Giorgio Chiellini during Uruguay's match against Italy the group stage, but escaped unpunished as the referee did not see the incident.


4. Olympic gold medalist, the Netherlands defeated Australia by 2-0 in the final match to win the women's hockey World Cup at the Kyocera Stadium in The Hague. With this win, the Netherlands won the Women-s world cup hockey for seven times out of total 13 world cup events since its inception in 1974.


Current Affairs India - 26 June 2014


1. The Central Government has appointed additional secretary A.K. Dubey as the new chairman of India-s largest mining company Coal India with immediate effect. He will serve his post as an additional charge till a full-time chairman was appointed. He succeeded S. Narsing Rao who resigned as Coal India Ltd-s chairman and managing director almost a month back.


2. B. Ashok has been appointed as the head of India-s largest oil firm, Indian Oil Corporation (IOC) today. This is the the first top level appointment by the new government. B. Ashok, Executive Director (Retail Sales) at Indian Oil Corporation (IOC), was chosen to head the company by Public Enterprise Selection Board (PESB) in October last year, but the previous UPA government could not appoint him before its tenure ended.


Once approved the Appointments Committee of the Cabinet (ACC) headed by Prime Minister Narendra Modi, formal appointment orders will be issued. He will succeed R.S. Butola who retired on 31st May.


3. Four Indians, including Rohini Nilekani and Ajay Piramal, have been included in the latest annual Forbes list of 'Heroes of Philanthropy in Asia Pacific' published today. 75-year old Desh Bandhu Gupta, founder and chairman of drug-maker Lupin and former Goldman Sachs banker Ashish Dhawan are the other two Indian to be featured in list.


The list, comprising of 48 persons, also includes four each from Australia, China, Hong Kong, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan and Thailand.


4. E-commerce marketplace Flipkart has launched its first tablet - Digiflip Pro XT712 - under its brand, Digiflip Pro. The tablet which is available in black and white variants, is priced at Rs 9,999. The tablet also comes with shopping benefits worth over Rs 5,000 and free eBooks worth over Rs 2,000 from Flipkart. The XT712 comes with a 1280 x 800p HD resolution with IPS display. It is being shipped with a 1.3 GHz quad core Cortex A7 processor, and has dual SIM 3G calling features.


5. The Federation of Karnataka Chamber of Commerce and Industry (FKCCI) has awarded ITeS Company Diya Systems (Mangalore) Pvt Ltd with export excellence award for 2014. It was awarded the -Best District Export Award- in recognition of its services in the export segment.


 


27-June


Current Affairs Global - 27 June 2014


1. Poland-s Wroclaw city has been named as the World Book Capital (WBC) for 2016 in recognition of its promoting the publishing and bookselling industries, Unesco announced yesterday. Wroclaw, the largest city in western Poland, was selected -in light of the strong assets of its programme in terms of quality and variety- and in particular, -for its special focus on grass-root community involvement, as well as promotion of publishing, bookselling industries and libraries at regional and international levels-.


Since 2001, UNESCO has been naming a city as the -World Book Capital- for its quality of programmes to promote book and reading. India-s capital Delhi got the honour in 2003. Wroclaw became the 16th city to be designated as the WBC. Nigeria-s Port Harcourt is the WBC for 2014 while South Korea-s Incheon city named for 2015.


Current Affairs India - 27 June 2014


1. Delhi University finally agreed to scrap its four year undergraduate program and revert to the three-year programme which was in place till 2012 after being pressurized by the UGC. This decision also ends the uncertainty regarding admission for current year 2014-15. Delhi University Vice Chancellor Dinesh Singh asked principals of various colleges affiliated to the varsity to start admissions for the new session.


A 12-member committee of college principals was set up by the university today to look into the issue of admissions under the three-year format.


2. The department of public enterprises has granted Navratna status to National Buildings Construction Corporation Limited (NBCC) and Engineers India Limited (EIL) following fulfillment of prescribed criteria by the two Central PSUs. The status came into effect from June 23.


With this, NBCC became the 15th and EIL 16th Navratna Company amongst 250 Central Public Sector Undertakings in the country. NBCC is a CPSE under the ministry of urban development, whereas the EIL is a PSU under the Ministry of petroleum and natural gas.


3. UCO Bank has been awarded the -Platinum SKOCH Inclusion & Deepening Award 2014- for -excellence in banking-. The award was presented by MP Minakshi Lekhi to Arun Kaul, CMD, UCO Bank. As per the bank, it has adopted 18 villages across 10 States for the uplift of below-poverty-line households. It has trained 46,659 persons, of which 27,000 have become economically self-reliant with a credit linkage of Rs 590 crore.


4. France has announced that it would honour Bollywood actor Shah Rukh Khan with the 'Legion of France', one of its highest civilian awards. French Foreign Minister Laurent Fabius will present the award to Khan next week.


Amitabh Bacchan received the award in 2007. Shah Rukh Khan will be the second Bollywood actor after him to receive the same honour. The award is conferred for excellent civil or military conduct.


5. Famous Indian shuttler Saina Nehwal entered the women's singles semifinals after defeating Eriko Hirose of Japan by 21-18 21-9 in the quarterfinal of the Star Australian Super Series in Sydney today. India-s other shuttler P V Sindhu failed to cross the quarterfinal hurdle after being defeated by Carolina Marin of Spain 17-21 17-21. Saina will now play against world no. 2 Chinese shuttler Shixian Wang in the semifinal match.


 


28-June


 


29-June


Forex Reserves increased by USD 1.385 billion to 314.922 billion


India-s Forex reserves were increased by USD 1.385 billion to 314.922 billion for the week ended 20th 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. With this, India-s forex reserves jumped for the seventh consecutive weeks now as RBI continues to buy US Dollars.


The Foreign Currency Assets (FCA) was increased by USD 1.372 billion to 287.961 billion for the same week. Foreign currency assets are 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 also increased by USD 9.3 million and USD 3.5 million respectively for the same week. Gold value remained unchanged at USD 20.790 billion for the same reporting week.


Current Affairs Global - 29 June 2014


1. Jean-Claude Juncker has been named as the next president of the European Commission with support from most of the EU leaders. He defeated UK Prime Minister David Cameron and this election may threaten to increase the chances of Britain leaving the bloc.


Juncker is a former Luxembourg Prime Minister and was backed by all EU member states, except Britain and Hungary.


Current Affairs India - 29 June 2014


1. Tamil Nadu Governor K Rosaiah was sworn in as the Governor of Karnataka today. The Chief Justice of the Karnataka High Court Justice D H Waghela administered the oath of office. Rosaiah has been given additional charge after H R Bhardwaj relinquished his office yesterday following the end of his tenure.


2. Kochi has won this year-s -best city award- from news channel CNBC Awaaz. The CNBC Awaaz Travel Awards 2014 were presented at a function in Indore. Currently in its eighth year, the CNBC Awaaz Travel Awards are a recognition of the best-in-class destinations, organisations, and service providers, based on a study conducted by the news channel across multimedia platforms.


3. Famous Indian shuttler Saina Nehwal has won her second title of the year after beating Carolina Marin of Spain 21-18, 21-11 in the Australian Open Super Series final in Sydney today. The sixth seeded Indian had won the India Open Grand Prix Gold earlier this year.


She defeated world number two and top seed Chinese Shixian Wang by 21-19 16-21 21-15 in the semifinal match yesterday to enter into the finals.


4. Indian cueist Pankaj Advani today created history by becoming the first player in the world to win world titles in the long and shorter formats of both billiards and snooker by winning the IBSF World 6-Red snooker Championship. Advani defeated Kacper Flilpiak of Poland in the final that lasted barely an hour to win his maiden 6-Red world title and ninth overall.


Advani, who has won 7 world titles in billiards and 1 in snooker, added a new kind of world title to his overflowing cabinet of trophies. He won both World snooker titles on debut - the IBSF World Snooker Championship, China and this one, the IBSF 6-Red World Snooker Championship in Egypt.


5. Famous Indian sand artist Sudarsan Pattnaik won the People's Choice prize at the World Cup of Sand Sculpting-2014 held in the Atlantic City of the US.  He won prize for his work -Save Tree, Save the Future-.  This is first sand art world cup at USA 2014. Twenty international sand artists world participated in the event which was held recently from across the world. Every sculptor got 30 hours to create their artwork using 10 tons of sand.


30-June


Current Affairs Global - 30 June 2014


1. Pakistani school girl Malala Yousafzai, who was shot by the Taliban for endorsing Women education in Swat Valley of Pakistan, has won the Liberty Medal from the National Constitution Centre in Philadelphia. The medal has been awarded annually since 1989, when Polish Solidarity founder Lech Walesa received it first. Since then, recipients of this award included Muhammad Ali, former President Jimmy Carter, and former Secretary of State Hillary Clinton.


She was just 15 when she was shot in the head while returning from school in Pakistan, in October 2012. She had angered the fundamentalist Muslim group by writing about life under the Taliban for the BBC, and arguing that girls should be allowed to pursue an education.


Current Affairs India - 30 June 2014


1. India successfully launched five foreign satellites from four countries with its PSLV-C23 rocket today from Satish Dhawan Space Centre at Sriharikot which placed them in orbit. Prime Minister Narendra Modi who witnessed the lift off, congratulated the scientists for the successful launch.


The rocked carried a 714 kg French Earth Observation Satellite SPOT-7 as the main payload. This satellite was built by Airbus Defence and Space, a leading European space technology company. It also carried Germany's 14 kg AISAT (a sea monitoring system), NLS7.1 and NLS7.2 of Canada (each weighing 15 kg for accurate position control system) and Singrapore's 7 kg VELOX-1 (for inhouse design of image sensor).


This has strengthened India's space mission capability to launch foreign satellites on a commercial basis. Narendra Modi also appealed the scientists to develop a space technology which could be handed over as a gift for the SAARC Countries.


2. West Bengal Governor M K Narayanan resigned today, thus joining the other Governors who all have resigned since the newly elected NDA government asked Governors appointed during previous UPA rule to quit. He was recently questioned by the CBI as a -witness- in the AgustaWestland VVIP helicopter deal probe.


Narayanan, a former IPS officer, who had served as Director of the Intelligence Bureau and was also the National Security Advisor, was appointed as the Governor of the state in January 2010. Nagaland Governor Ashwani Kumar, Uttar Pradesh Governor B L Joshi and Chhattisgarh Governor Shekhar Dutt have resigned recently.


3. India-s eight core industries' output grew by 2.3% in May compared to 4.2% growth in previous month and 5.9% growth in the same month last year. These eight industries; coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity, have combined weightage of 38% in the overall Index of Industrial Production (IIP).