1. Mahindra & Mahindra Tie Up with Corporation Bank
2.India Winning the Series in New Zealand
3. India has 23rd least Friendly Tax climate
4. LIC contract to ElectraCard Services
5. Swapanali Yadav
6. DRDO Nishant
7. Sir Jehangir Ghandy Medal to Ratan Tata
8. Kalpen Suresh Modi
9. Export-Import Bank of China (China Exim) and ICICI Bank
10. Japan now top M&A market in Asia-Pacific
11. PowerGrid
2.India Winning the Series in New Zealand
3. India has 23rd least Friendly Tax climate
4. LIC contract to ElectraCard Services
5. Swapanali Yadav
6. DRDO Nishant
7. Sir Jehangir Ghandy Medal to Ratan Tata
8. Kalpen Suresh Modi
9. Export-Import Bank of China (China Exim) and ICICI Bank
10. Japan now top M&A market in Asia-Pacific
11. PowerGrid
1. Mahindra & Mahindra Tie Up with Corporation Bank
Mahindra & Mahindra Ltd. (M&M) and its joint venture company, Mahindra Navistar Automotives Ltd. (MNAL), has signed two MoUs with Corporation Bank for vehicle finance. Corporation Bank will be a preferred financier for the entire range of M&M and MNAL vehicles, encompassing utility vehicles, pick ups, three wheelers, passenger cars and Commercial Vehicles.
Note: Mahindra Navistar Automotives Ltd. (MNAL) is a 51:49 Joint Venture between Mahindra & Mahindra Ltd. (M&M) and Navistar Inc. USA. MNAL manufactures the entire spectrum of commercial vehicles ranging from 3.5 - 49 tons GVW/GCW. These products are developed to suit Indian conditions and will set new levels of reliability, efficiency and customer experience in the commercial vehicle industry. Apart from a joint venture to manufacture trucks and buses, in November 2007, Navistar signed a second joint venture agreement with Mahindra & Mahindra, Ltd., this one focused on producing diesel engines for Medium and Heavy Commercial Vehicles in India.
2.India Winning the Series in New Zealand
After a long wait of 41-years, the Men in Blue finally claimed a test series in New Zealand. Indian opener Gautam Ghamhir was declared man of the match. After vistory in New Zealand, India has achieved 3rd Position in ICC ODI rankings.
3. India has 23rd least Friendly Tax climate
While India still maintains a relatively low rank of 23rd least friendly tax climate in this year's Tax Misery Index, topped by France with harshest taxes across the world, it is ranked at top in terms of increase in its tax misery score, a collective measure of maximum corporate, personal, social security and sales tax rates. The index assesses whether a jurisdiction's tax policy attracts or repels capital and talent by calculating its Misery score. Jurisdictions at the top of the index with high scores impose the harshest taxes, while the most tax friendly are at the bottom.
Mahindra & Mahindra Ltd. (M&M) and its joint venture company, Mahindra Navistar Automotives Ltd. (MNAL), has signed two MoUs with Corporation Bank for vehicle finance. Corporation Bank will be a preferred financier for the entire range of M&M and MNAL vehicles, encompassing utility vehicles, pick ups, three wheelers, passenger cars and Commercial Vehicles.
Note: Mahindra Navistar Automotives Ltd. (MNAL) is a 51:49 Joint Venture between Mahindra & Mahindra Ltd. (M&M) and Navistar Inc. USA. MNAL manufactures the entire spectrum of commercial vehicles ranging from 3.5 - 49 tons GVW/GCW. These products are developed to suit Indian conditions and will set new levels of reliability, efficiency and customer experience in the commercial vehicle industry. Apart from a joint venture to manufacture trucks and buses, in November 2007, Navistar signed a second joint venture agreement with Mahindra & Mahindra, Ltd., this one focused on producing diesel engines for Medium and Heavy Commercial Vehicles in India.
2.India Winning the Series in New Zealand
After a long wait of 41-years, the Men in Blue finally claimed a test series in New Zealand. Indian opener Gautam Ghamhir was declared man of the match. After vistory in New Zealand, India has achieved 3rd Position in ICC ODI rankings.
3. India has 23rd least Friendly Tax climate
While India still maintains a relatively low rank of 23rd least friendly tax climate in this year's Tax Misery Index, topped by France with harshest taxes across the world, it is ranked at top in terms of increase in its tax misery score, a collective measure of maximum corporate, personal, social security and sales tax rates. The index assesses whether a jurisdiction's tax policy attracts or repels capital and talent by calculating its Misery score. Jurisdictions at the top of the index with high scores impose the harshest taxes, while the most tax friendly are at the bottom.
India was ranked 35th least tax friendly jurisdiction in the 2008 list.
France, China and Belgium have been named as having top three harshest tax climates.
Qatar, the United Arab Emirates and Hong Kong have trumped other economies to retain the friendliest tax climate, as per the 2009 Tax Misery & Reform Index.
4. LIC contract to ElectraCard Services
ElectraCard Services (ECS), India's leading electronic payment solutions provider, has been awarded the contract for end to end processing of LIC Credit Cards, by Corporation Bank. The bank will issue white label credit cards on behalf of LIC Cards Services Limited, a company owned by LIC of India as per agreement entered into and the cards will be launched soon, stated a press release. LIC of India, one of the biggest insurance companies in the world, plans to leverage its ready database of 235 million policyholders to issue these cards in the first phase of rollout. It also plans to launch a facility to pay LIC premiums using the credit card. ECS will handle complete processing of the credit cards right from applications, card and accounts, transactions, billing, statements, payments, dispute resolution, and general ledger. ECS will also provide additional services in the form of a 24x7 help line to assist LIC card holders, as well as generate SMS and email alerts. ECS will provide the entire infrastructure and manpower required for such operations and will manage all relationships with 3rd party service providers that are engaged within this line of processing services.
5. Swapanali Yadav
Swapnali Yadav, the 8 year old from Mumbai participated and successfully completed the 19th International Swim across the Gulf Of Mesiniakos from Koroni-Kalamata, a distance of 30km, in 11 hours 10 minutes. The next youngest competitor was 22yrs old. Her next target is to become the youngest to swim across the legendary English Channel. The record books indicate that the youngest swimmer to cross the channel is Thomas Gregory at the age of 11yrs and 330days. Mihir Sen, a long distance swimming legend, was the first Indian to swim across the channel in 1958.
6. DRDO Nishant
The DRDO Nishant is an Unmanned Aerial Vehicle (UAV) developed by India's ADE (Aeronautical Development Establishment) a branch of DRDO for the Indian Armed Forces. The Nishant UAV is primarily tasked with intelligence gathering over enemy territory and also for recce, surveillance, target designation, artillery fire correction, damage assessment, ELINT and SIGINT. The UAV has an Endurance of 4 hrs & 30min. Nishant has completed development Phase and User Trials.
The 380 kg Nishant UAV requires rail-launching from a hydro-pneumatic launcher and recovered by a Parachute System. Launches at a velocity of 45 m/s are carried out in 0.6 seconds with 100 kW power and subsequent launches can be carried out in intervals of 20 minutes. The Mobile Hydro-Pneumatic Launcher (MHPL) system mounted on a Tatra truck weighs 14,000 kg and boasts of a life cycle of 1000 launches before requiring overhaul. Nishant is one of the few UAVs in the world in its weight-class capable of being catapult-launched and recovered by using parachute, thus eliminating the need for a runway as in case of conventional take-off and landing with wheels.
source : wikipedia
7. Sir Jehangir Ghandy Medal to Ratan Tata
The prestigious Sir Jehangir Ghandy Medal for Industrial & Social Peace was conferred on Mr. Ratan N. Tata, Chairman, the Tata Group of Companies. The Sir Jehangir Ghandy Medal was instituted by XLRI in 1966. Previous recipients of the Medal include respected names from diverse fields such as J. R. D. Tata, Arvind Mafatlal, Holck-Larsen, Rajmohan Gandhi, P. N. Bhagwati, V. Kurien and M. S. Banga. Mr. Ratan Tata has already been conferred with the XLRI Honorary Fellow Award.
A legend Called Ratan Tata: Some Other awards and Honours
4. LIC contract to ElectraCard Services
ElectraCard Services (ECS), India's leading electronic payment solutions provider, has been awarded the contract for end to end processing of LIC Credit Cards, by Corporation Bank. The bank will issue white label credit cards on behalf of LIC Cards Services Limited, a company owned by LIC of India as per agreement entered into and the cards will be launched soon, stated a press release. LIC of India, one of the biggest insurance companies in the world, plans to leverage its ready database of 235 million policyholders to issue these cards in the first phase of rollout. It also plans to launch a facility to pay LIC premiums using the credit card. ECS will handle complete processing of the credit cards right from applications, card and accounts, transactions, billing, statements, payments, dispute resolution, and general ledger. ECS will also provide additional services in the form of a 24x7 help line to assist LIC card holders, as well as generate SMS and email alerts. ECS will provide the entire infrastructure and manpower required for such operations and will manage all relationships with 3rd party service providers that are engaged within this line of processing services.
5. Swapanali Yadav
Swapnali Yadav, the 8 year old from Mumbai participated and successfully completed the 19th International Swim across the Gulf Of Mesiniakos from Koroni-Kalamata, a distance of 30km, in 11 hours 10 minutes. The next youngest competitor was 22yrs old. Her next target is to become the youngest to swim across the legendary English Channel. The record books indicate that the youngest swimmer to cross the channel is Thomas Gregory at the age of 11yrs and 330days. Mihir Sen, a long distance swimming legend, was the first Indian to swim across the channel in 1958.
6. DRDO Nishant
The DRDO Nishant is an Unmanned Aerial Vehicle (UAV) developed by India's ADE (Aeronautical Development Establishment) a branch of DRDO for the Indian Armed Forces. The Nishant UAV is primarily tasked with intelligence gathering over enemy territory and also for recce, surveillance, target designation, artillery fire correction, damage assessment, ELINT and SIGINT. The UAV has an Endurance of 4 hrs & 30min. Nishant has completed development Phase and User Trials.
The 380 kg Nishant UAV requires rail-launching from a hydro-pneumatic launcher and recovered by a Parachute System. Launches at a velocity of 45 m/s are carried out in 0.6 seconds with 100 kW power and subsequent launches can be carried out in intervals of 20 minutes. The Mobile Hydro-Pneumatic Launcher (MHPL) system mounted on a Tatra truck weighs 14,000 kg and boasts of a life cycle of 1000 launches before requiring overhaul. Nishant is one of the few UAVs in the world in its weight-class capable of being catapult-launched and recovered by using parachute, thus eliminating the need for a runway as in case of conventional take-off and landing with wheels.
source : wikipedia
7. Sir Jehangir Ghandy Medal to Ratan Tata
The prestigious Sir Jehangir Ghandy Medal for Industrial & Social Peace was conferred on Mr. Ratan N. Tata, Chairman, the Tata Group of Companies. The Sir Jehangir Ghandy Medal was instituted by XLRI in 1966. Previous recipients of the Medal include respected names from diverse fields such as J. R. D. Tata, Arvind Mafatlal, Holck-Larsen, Rajmohan Gandhi, P. N. Bhagwati, V. Kurien and M. S. Banga. Mr. Ratan Tata has already been conferred with the XLRI Honorary Fellow Award.
A legend Called Ratan Tata: Some Other awards and Honours
1. On the occasion of India's 58th Republic Day on 26 January 2000, Ratan Tata was honoured with the Padma Bhushan, the third highest decoration that may be awarded to a civilian.
2. On 26 January 2008, he was awarded the Padma Vibhushan, the second highest civilian decoration.
3. He was one of the recipients of the NASSCOM Global Leadership Awards 2008 given away at a ceremony on February 14, 2008 in Mumbai. Ratan Tata accepted the Carnegie Medal of Philanthropy in 2007 on behalf of the Tata Family.
4. In March 2006, Tata was honoured by Cornell University as the 26th Robert S. Hatfield Fellow in Economic Education, considered the highest honor the university awards to distinguished individuals from the corporate sector.
5. He recently received an honorary doctorate from the London School of Economics and Indian Institute of Technology, Kharagpur.
6. He was listed among the 25 most powerful people in business named by Fortune Magazine in November 2007.
7. In May 2008, Mr. Tata made it to the Time Magazine's 2008 list of the World's 100 Most Influential People. Tata was hailed for unveiling his tiny Rs. One lakh car 'Nano'.
8. On 29th August 2008, the Government of Singapore conferred Honorary Citizenship on Ratan Tata, in recognition of his abiding business relationship with the island nation and his contribution to the growth of high-tech sectors in Singapore. Ratan Tata is the first Indian to receive this honour.
8. Kalpen Suresh Modi
Kalpen Suresh Modi (born April 23, 1977), best-known by his professional name, Kal Penn, is an American film and television actor, and is the incoming Associate Director of the White House Office of Public Liaison in the Barack Obama administration. On April 8, 2009 Penn announced that he would join the Obama White House as Associate Director of the White House Office of Public Liaison. This necessitated that his character Lawrence Kutner was written out of the TV series House.
9. Export-Import Bank of China (China Exim) and ICICI Bank
The Export-Import Bank of China (China Exim) and ICICI Bank Limited acting through its Hong Kong Branch (ICICI Bank) signed a loan agreement for USD 98 million under the Two- step Buyer Credit (Export Credit) arrangement. ICICI Bank is the first Indian Bank to have entered into this arrangement with China Exim. The agreement was signed by Mr.Zhu Xinqiang, Assistant President, China Exim and Mr.Sudhir Dole, Senior General Manager & Regional Head- Asia, ICICI Bank. This agreement was signed in Beijing on March 19, 2009.
8. Kalpen Suresh Modi
Kalpen Suresh Modi (born April 23, 1977), best-known by his professional name, Kal Penn, is an American film and television actor, and is the incoming Associate Director of the White House Office of Public Liaison in the Barack Obama administration. On April 8, 2009 Penn announced that he would join the Obama White House as Associate Director of the White House Office of Public Liaison. This necessitated that his character Lawrence Kutner was written out of the TV series House.
9. Export-Import Bank of China (China Exim) and ICICI Bank
The Export-Import Bank of China (China Exim) and ICICI Bank Limited acting through its Hong Kong Branch (ICICI Bank) signed a loan agreement for USD 98 million under the Two- step Buyer Credit (Export Credit) arrangement. ICICI Bank is the first Indian Bank to have entered into this arrangement with China Exim. The agreement was signed by Mr.Zhu Xinqiang, Assistant President, China Exim and Mr.Sudhir Dole, Senior General Manager & Regional Head- Asia, ICICI Bank. This agreement was signed in Beijing on March 19, 2009.
Source: icicibank.com
10. Japan now top M&A market in Asia-Pacific
Mergermarket says Japan now top M&A market in Asia-Pacific. Japan Has Overtaken China This Quarter as the Most Active Country in Asia-Pacific in the first quarter of 2009 as the most active country in the Asia-Pacific region for the first time in five years. Japanese M&A accounts for 28% of the number of Asia-Pacific deals, while Chinese activity makes up 25%, according to "mergermarket", the independent M&A intelligence provider.
11. PowerGrid
India’s central transmission utility PowerGrid Corporation has tied up 75% of the Rs 55,000-crore capex for laying inter-regional transmission capacity of 37,800 mw by 2012. Moreover, the company has received the Centre’s approval for raising an additional $1 billion from multilateral organisations such as World Bank and Asian Development Bank (ADB), the notification for which was issued recently. Of the Rs 55,000 crore, nearly Rs 16,000 crore will come from internal accruals and Rs 39,000 crore through domestic and international borrowings and also through suppliers’ credit. Besides, the state-run firm has proposed a capex of Rs 12,000 crore for 2009-10 against Rs 8,095 crore in 2008-09.
10. Japan now top M&A market in Asia-Pacific
Mergermarket says Japan now top M&A market in Asia-Pacific. Japan Has Overtaken China This Quarter as the Most Active Country in Asia-Pacific in the first quarter of 2009 as the most active country in the Asia-Pacific region for the first time in five years. Japanese M&A accounts for 28% of the number of Asia-Pacific deals, while Chinese activity makes up 25%, according to "mergermarket", the independent M&A intelligence provider.
11. PowerGrid
India’s central transmission utility PowerGrid Corporation has tied up 75% of the Rs 55,000-crore capex for laying inter-regional transmission capacity of 37,800 mw by 2012. Moreover, the company has received the Centre’s approval for raising an additional $1 billion from multilateral organisations such as World Bank and Asian Development Bank (ADB), the notification for which was issued recently. Of the Rs 55,000 crore, nearly Rs 16,000 crore will come from internal accruals and Rs 39,000 crore through domestic and international borrowings and also through suppliers’ credit. Besides, the state-run firm has proposed a capex of Rs 12,000 crore for 2009-10 against Rs 8,095 crore in 2008-09.
Lapang becomes Meghalaya CM
Donwa Dethwelson Lapang was yesterday sworn-in as the chief minister of Meghalaya where President's rule was lifted on Friday.Governor R S Mooshahary administered the oath of office and secrecy to Lapang at a programme in Raj Bhavan. Lapang is head of the Meghalaya United Alliance, which is comprising Congress and a regional party, United Democratic Party (UDP). The alliance has 37 MLAs -- 26 from the Congress, nine from UDP and two Independents -- in the 60-member house which now has an effective strength of 55 following resignation of one UDP MLA and disqualification of four others.
About President Rule in Meghalaya : President Rule in Meghalaya was imposed on march 18, 2009 after the government survived narrowly with the trust vote of speaker.
Runu Ghosh Convicted
Runu Ghosh, former deputy director general in the telecom ministry who has been convicted for corruption, will be pronounced Friday by a Delhi Court.
About Runu Ghosh :
She was a former Indian Audit and Accounts Service officer, and was held guilty by the court of amassing disproportionate assets of around Rs.2.27 million and can face imprisonment up to seven years. According to the prosecution, she acquired the wealth between 1992 and 1996 while working as deputy director general (licence and finance) in the Telecom Department during the tenure of then telecommunications minister Sukhram.
Hung parliament is what Exit polls say :
India's month-long general election ended Wednesday, with exit polls forecasting the Congress-led coalition to be leading the opposition Bharatiya Janata Party. Neither group will win a parliamentary majority. They will now be battling for new allies to form a new government.
Runu Ghosh, former deputy director general in the telecom ministry who has been convicted for corruption, will be pronounced Friday by a Delhi Court.
About Runu Ghosh :
She was a former Indian Audit and Accounts Service officer, and was held guilty by the court of amassing disproportionate assets of around Rs.2.27 million and can face imprisonment up to seven years. According to the prosecution, she acquired the wealth between 1992 and 1996 while working as deputy director general (licence and finance) in the Telecom Department during the tenure of then telecommunications minister Sukhram.
Hung parliament is what Exit polls say :
India's month-long general election ended Wednesday, with exit polls forecasting the Congress-led coalition to be leading the opposition Bharatiya Janata Party. Neither group will win a parliamentary majority. They will now be battling for new allies to form a new government.
Abroad
Army Lt. Gen. Stanley McChrystal is the new commander of U.S. and NATO forces in Afghanistan. He is a a veteran counterinsurgency expert. He will take charge as the administration begins to implement its new strategy for the worsening conflict in Afghanistan and a growing insurgency in neighboring nuclear-armed Pakistan by allies of al Qaida and the Afghan Taliban. He is successor of Army Gen. David McKiernan
About US forces in Afganistan: There are more than 75,000 U.S.-led NATO troops in Afghanistan. Another 21,000 American soldiers are due to deploy this year, including 17,000 destined for southern Afghanistan, the Taliban heartland and opium production center.
Last Nazi War Crime Trail in Germany:
Germany is preparing for its last Nazi war crimes trial and a courtroom duel between two old survivors: John Demjanjuk, accused of being a concentration camp guard in the killing fields of Eastern Europe, and Thomas Blatt, a former teenage inmate in one of the Third Reich’s most brutal outposts. In a charge sheet to be read to him with the help of an interpreter, Mr Demjanjuk will be accused of helping to kill 29,000 Jews.
UN warns a humanitarian crisis in Pakistan:
Fighting between government forces and Taliban in northern Pakistan has created a rapidly escalating humanitarian crisis, say the heads of a Pakistan relief agency visiting New Zealand.Shama Mall, a deputy director of Church World Service Pakistan/Afghanistan, says the situation at home for the 200,000 people forced to flee in the last two days is worsening. “It’s very worrying at present. These people are under the open sky in a very insecure and unstable
environment. People have been forced to leave at short notice and their immediate needs are not being met. Many have never had to leave their communities before and are afraid to do so.
About US forces in Afganistan: There are more than 75,000 U.S.-led NATO troops in Afghanistan. Another 21,000 American soldiers are due to deploy this year, including 17,000 destined for southern Afghanistan, the Taliban heartland and opium production center.
Last Nazi War Crime Trail in Germany:
Germany is preparing for its last Nazi war crimes trial and a courtroom duel between two old survivors: John Demjanjuk, accused of being a concentration camp guard in the killing fields of Eastern Europe, and Thomas Blatt, a former teenage inmate in one of the Third Reich’s most brutal outposts. In a charge sheet to be read to him with the help of an interpreter, Mr Demjanjuk will be accused of helping to kill 29,000 Jews.
UN warns a humanitarian crisis in Pakistan:
Fighting between government forces and Taliban in northern Pakistan has created a rapidly escalating humanitarian crisis, say the heads of a Pakistan relief agency visiting New Zealand.Shama Mall, a deputy director of Church World Service Pakistan/Afghanistan, says the situation at home for the 200,000 people forced to flee in the last two days is worsening. “It’s very worrying at present. These people are under the open sky in a very insecure and unstable
environment. People have been forced to leave at short notice and their immediate needs are not being met. Many have never had to leave their communities before and are afraid to do so.
Business & Economy
India's Industrial Output contract by 2.3%
The country's Industrial output contracted by 2.3 per cent in March, the sharpest fall in 16 years, raising fears of a sustained industrial slowdown. The manufacturing sector, which accounts for 80 per cent of the index of industrial production (IIP), plunged by 3.3 per cent in March compared to last year's 5.7 per cent growth, latest official data released on Tuesday showed. Overall industrial output grew by a 2.4 per cent during 2008-09, down from last year's 8.5 per cent. click for Official Data
Microsoft launched First Bond Issue:
Microsoft has launched its first bond issue in hopes of raising 3.75 billion dollars, sparking rumors the US software giant was contemplating a takeover bid. Microsoft, in a filing with the US Securities and Exchange Commission (SEC), said that it would use the money from the bond issue launched Monday for "general corporate purposes" and planned to offer five-year, 10-year and 30-year notes. The software giant "intends to use the net proceeds from the offering for general corporate purposes, which may include funding for working capital, capital expenditures, repurchases of stock and acquisitions.
China's Exports Plunged 22.6% in April :
China's exports plunged 22.6 percent in April from the year before in the sixth straight monthly decline while a torrent in bank lending meant to ward off the economic downturn pushed up spending on factories, real estate and other fixed assets. China's economy is the world's third-largest after the U.S. and Japan - relies heavily on exports for growth.
Special Duty on nylon tyre cord fabrics from China
The Central Board of Excise and Customs has in a notification extended the special duty imposed on imports of nylon tyre cord fabrics from China for a period of another five years.
The country's Industrial output contracted by 2.3 per cent in March, the sharpest fall in 16 years, raising fears of a sustained industrial slowdown. The manufacturing sector, which accounts for 80 per cent of the index of industrial production (IIP), plunged by 3.3 per cent in March compared to last year's 5.7 per cent growth, latest official data released on Tuesday showed. Overall industrial output grew by a 2.4 per cent during 2008-09, down from last year's 8.5 per cent. click for Official Data
Microsoft launched First Bond Issue:
Microsoft has launched its first bond issue in hopes of raising 3.75 billion dollars, sparking rumors the US software giant was contemplating a takeover bid. Microsoft, in a filing with the US Securities and Exchange Commission (SEC), said that it would use the money from the bond issue launched Monday for "general corporate purposes" and planned to offer five-year, 10-year and 30-year notes. The software giant "intends to use the net proceeds from the offering for general corporate purposes, which may include funding for working capital, capital expenditures, repurchases of stock and acquisitions.
China's Exports Plunged 22.6% in April :
China's exports plunged 22.6 percent in April from the year before in the sixth straight monthly decline while a torrent in bank lending meant to ward off the economic downturn pushed up spending on factories, real estate and other fixed assets. China's economy is the world's third-largest after the U.S. and Japan - relies heavily on exports for growth.
Special Duty on nylon tyre cord fabrics from China
The Central Board of Excise and Customs has in a notification extended the special duty imposed on imports of nylon tyre cord fabrics from China for a period of another five years.
ICICI ties up with VISA for US Cards
ICICI India's second-largest Bank and India's largest credit card issuer, and Visa Inc.have announced a strategic relationship that will enable ICICI's New York Branch to issue Visa Debit cards in the U.S., extending the convenience and worldwide acceptance of Visa Debit cards to the bank's increasingly global customer base. The bank will offer Visa Debit cards to its Global Indian Account and other checking account customers at its New York branch. The Global Indian Account service addresses the banking needs of Indians moving overseas who require access to local banking facilities in the United States.
About ICICI Bank Ltd:
ICICI Bank Ltd is India's largest private sector bank and the second largest bank in the country with consolidated total assets of over $95 billion as of March 31, 2009. ICICI Bank's subsidiaries include India's leading private sector insurance companies and among its largest securities brokerage firms, mutual funds and private equity firms. ICICI Bank's presence currently spans 19 countries, including India.
About Visa Inc.:
Visa Inc. operates the world's largest retail electronic payments network providing processing services and payment product platforms. This includes consumer credit, debit, prepaid and commercial payments, which are offered under the Visa, Visa Electron, Interlink and PLUS brands. Visa enjoys unsurpassed acceptance around the world, and Visa/PLUS is one of the world's largest global ATM networks, offering cash access in local currency in more than 170 countries.
TCS Contract with Volkswagen
India’s largest information technology (IT) firm, Tata Consultancy Services (TCS), has signed a five-year contract with UK-based automobile maker Volkswagen Group to deliver IT transformation and support services.TCS will support Volkswagen in its business transformation programme to meet its aim to “sell more cars, sell more parts, drive down costs”.
SBI cuts deposit rates :
The State Bank of India has cut its fixed deposit (FD) rates across maturities by up to 50 basis points (100 basis points = 1%), effective from May 18. This is the second time in this month, and sixth time in 2009 that SBI has cut its deposit rates. Earlier this month, it reduced rates by 0.25 percentage points.
National Issues
PM wants to eradicate small schemes:
Prime Minister has directed all ministries and departments to suggest ways to downsize existing programmes. At present, there are only 50 central and centrally sponsored schemes, which had an allocation of more than Rs 500 crore for this year. This implies that for creation of any meaningful space, a large number of ongoing programmes will have to be deferred. Politically, this will be an uphill task as the government had introduced zero budgeting system three years ago and the then finance minister P Chidambaram had publicly expressed concern that proliferation of small schemes was hampering meaningful implementation.
In the Budget for this year, there are 908 Central schemes with a total allocation of Rs 77,973.6 crore of which only 24 schemes have an allocation of more than Rs 500 crore. These 24 schemes account for 42 per cent of all centrally funded schemes. The balance 58 per cent schemes have a total allocation of Rs 12,0876 crore.
Read Some Government of India Development Programs
Prime Minister has directed all ministries and departments to suggest ways to downsize existing programmes. At present, there are only 50 central and centrally sponsored schemes, which had an allocation of more than Rs 500 crore for this year. This implies that for creation of any meaningful space, a large number of ongoing programmes will have to be deferred. Politically, this will be an uphill task as the government had introduced zero budgeting system three years ago and the then finance minister P Chidambaram had publicly expressed concern that proliferation of small schemes was hampering meaningful implementation.
In the Budget for this year, there are 908 Central schemes with a total allocation of Rs 77,973.6 crore of which only 24 schemes have an allocation of more than Rs 500 crore. These 24 schemes account for 42 per cent of all centrally funded schemes. The balance 58 per cent schemes have a total allocation of Rs 12,0876 crore.
Read Some Government of India Development Programs
Defence
India gets Akula-II by end of this year:
India gets Akula-II by end of this year:
India gets its first new generation Akula-II class nuclear attack submarine by the year-end, bolstering its Navy’s undersea capability manifold. Russian Prime Minister Vladimir Putin has ordered delivery of the submarine to the Indian Navy and has sanctioned $300 million for speedy completion of the project.
What is Akula?
Akula means Shark in Russian .
India is paying two billion dollars for the completion of two Akula-II class submarines. The first submarine will be named INS Chakra.Whereas the Russian Navy's Akula-II submarine is equipped with 28 nuclear-capable cruise missiles with a striking range of 3,000 kilometers, the Indian version expected to be armed with the 300 km range 3M-54 Klub nuclear-capable missiles. Missiles with ranges greater than 300 kilometers cannot be exported due to arms control restrictions, since Russia is a signatory to the MTCR treaty.
Ceremonies
Ceremonies
National Technology Day celebrated on May 11:
National Technology Day marks 11th anniversary of Pokhran-II nuke test. May 11, was a significant day in the history of India and it represented scientific contribution in hi-technology for country’s development and pride.
Both 1974 and 1998 nuke tests were conducted on Buddha Purnima day
About Pokharan II:
Pokharan-II refers to test explosions of five nuclear devices, three on 11 May and two on 13 May 1998, conducted by India at the Pokhran test range. The test was conducted when the Bharatiya Janata Party (BJP) government was in power with Atal Bihari Vajpayee as Prime Minister. These nuclear tests resulted in a variety of sanctions against India by a number of major states. On 18 May 1974 India exploded its first nuclear device code named Smiling Buddha. After about a quarter century, on Buddha Jayanti, 11 May 1998, Operation Shakti was carried out. Shakti was the codename for Pokhran-II.
About India's Nuclear Warhead Program:
The Indian nuclear weapons program was started in the year 1964. The 1962 Sino-Indian war was an unforgettable lesson to the Indian establishment. It underscored the need to have a strong military with a comprehensive capability to deter enemy forces. The Chinese Nuclear Test at Lop Nur in 1964 goaded the Indian government into action to kickstart India's indigenous program to develop nuclear weapons. Preliminary studies were carried out at the Bhabha Atomic Research Centre and plans were developed to produce plutonium and other bomb components. The program was shelved after Prime Minister Jawahar Lal Nehru's death. It was revived in the year 1968 by Prime Minister Indira Gandhi. The program culminated in the nuclear test of 1974 at Pokhran codenamed Smiling Buddha.
After the 1974 test India decided to stop testing as a temporary measure. Various political parties, especially the right wing Jana Sangh pushed for further testing and weaponisation. Successive governments in India decided to observe this temporary moratorium for fear of inviting international criticism. In 1995, Prime Minister P.V. Narasimha Rao decided to carry out further tests. But the plans were halted after American satellites picked up signs of preparations for testing at Pokhran. The Americans under President Bill Clinton exerted enormous pressure on Rao to stop the preparations.
People :
National Technology Day marks 11th anniversary of Pokhran-II nuke test. May 11, was a significant day in the history of India and it represented scientific contribution in hi-technology for country’s development and pride.
Both 1974 and 1998 nuke tests were conducted on Buddha Purnima day
About Pokharan II:
Pokharan-II refers to test explosions of five nuclear devices, three on 11 May and two on 13 May 1998, conducted by India at the Pokhran test range. The test was conducted when the Bharatiya Janata Party (BJP) government was in power with Atal Bihari Vajpayee as Prime Minister. These nuclear tests resulted in a variety of sanctions against India by a number of major states. On 18 May 1974 India exploded its first nuclear device code named Smiling Buddha. After about a quarter century, on Buddha Jayanti, 11 May 1998, Operation Shakti was carried out. Shakti was the codename for Pokhran-II.
About India's Nuclear Warhead Program:
The Indian nuclear weapons program was started in the year 1964. The 1962 Sino-Indian war was an unforgettable lesson to the Indian establishment. It underscored the need to have a strong military with a comprehensive capability to deter enemy forces. The Chinese Nuclear Test at Lop Nur in 1964 goaded the Indian government into action to kickstart India's indigenous program to develop nuclear weapons. Preliminary studies were carried out at the Bhabha Atomic Research Centre and plans were developed to produce plutonium and other bomb components. The program was shelved after Prime Minister Jawahar Lal Nehru's death. It was revived in the year 1968 by Prime Minister Indira Gandhi. The program culminated in the nuclear test of 1974 at Pokhran codenamed Smiling Buddha.
After the 1974 test India decided to stop testing as a temporary measure. Various political parties, especially the right wing Jana Sangh pushed for further testing and weaponisation. Successive governments in India decided to observe this temporary moratorium for fear of inviting international criticism. In 1995, Prime Minister P.V. Narasimha Rao decided to carry out further tests. But the plans were halted after American satellites picked up signs of preparations for testing at Pokhran. The Americans under President Bill Clinton exerted enormous pressure on Rao to stop the preparations.
People :
Suresh Kalmadi is president of Indian Olympic Association
Indian Olympic Association
The Indian Olympic Association is the body responsible for selecting athletes to represent India at the Olympic Games and other international athletic meets and for managing the Indian teams at the events. It also acts as the Indian Commonwealth Games Association, responsible for selecting athletes to represent India at the Commonwealth Games. The Indian Olympic Association was formed in 1927 with Sir Dorabji Tata as its first president and since that year has been the body officially recognised by the International Olympic Committee as India's national Olympic organisation He was replaced by Maharaja Bhupindra Singh of Patiala in 1928 who stayed on till 1938.
Appointed:
Indian Olympic Association
The Indian Olympic Association is the body responsible for selecting athletes to represent India at the Olympic Games and other international athletic meets and for managing the Indian teams at the events. It also acts as the Indian Commonwealth Games Association, responsible for selecting athletes to represent India at the Commonwealth Games. The Indian Olympic Association was formed in 1927 with Sir Dorabji Tata as its first president and since that year has been the body officially recognised by the International Olympic Committee as India's national Olympic organisation He was replaced by Maharaja Bhupindra Singh of Patiala in 1928 who stayed on till 1938.
Appointed:
Air Marshal PK Barbora is air officer commanding-in-chief, Western Air Command : Air Marshal PK Barbora, VSM, has taken over as the air officer commanding-in-chief, Western Air Command. Air Marshal Barbora, born in December 1950 in Shillong, was commissioned as a fighter pilot in June 1970. A very experienced flier, he has flown over 3500 hours. Air Marshal Barbora also took part in the 1971 war with Pakistan.
Died
Former Navy chief Admiral Sardari Mathradas Nanda dies: Former Navy chief Admiral Sardari Mathradas Nanda, who became popular as "the man who bombed Karachi'' during the 1971 war but later got enmeshed in controversy after his son was accused in defence kickback scandals, died late on Monday. He was 94.
Died
Former Navy chief Admiral Sardari Mathradas Nanda dies: Former Navy chief Admiral Sardari Mathradas Nanda, who became popular as "the man who bombed Karachi'' during the 1971 war but later got enmeshed in controversy after his son was accused in defence kickback scandals, died late on Monday. He was 94.
Appointed the Navy chief in February 1970, Nanda is credited with formulating the daring strategy under which Indian warships bombed Pakistani oil tankers and enforced the blockade of Karachi port during the 1971 war. He will always be remembered in the most glowing terms for his leadership during the 1971 Indo-Pak conflict, in which the Indian Navy carved its name in golden letters in the annals of history by its sterling offensive actions.
After retiring in 1973, Nanda also served as the chairman of the Shipping Corporation of India and was awarded the Padma Vibhushan.
After retiring in 1973, Nanda also served as the chairman of the Shipping Corporation of India and was awarded the Padma Vibhushan.
June18,2009:Centre returns Gujarat's anti-terror bill
June18,2009:First private University in Karnataka approved
June18,2009:Delhi infant mortality rate doubles in 3 years
June18,2009:Delhi getting richer faster than the country
June19,2009:CG govt formulates Cybercrime Act
June19,2009:Tripura power project gets central nod
June19,2009: Punjab to improve buffalo breeds for higher milk yield
June18,2009:First private University in Karnataka approved
June18,2009:Delhi infant mortality rate doubles in 3 years
June18,2009:Delhi getting richer faster than the country
June19,2009:CG govt formulates Cybercrime Act
June19,2009:Tripura power project gets central nod
June19,2009: Punjab to improve buffalo breeds for higher milk yield
June18, 2009 :First private University in Karnataka approved
The State Government has approved the first private university in the State to be set up by the Azim Premji Foundation under an Act of the Karnataka legislature. The university will promote quality education management programmes and training for teaching staff. The Chairman of Wipro, who has been extending support to the Government in improving educational facilities in several districts of the Hyderabad Karnatak region over the past decade, had approached Chief Minister B.S. Yeddyurappa and Minister for Higher Education Aravind Limbavali to set up a private university.
June18, 2009 :Delhi infant mortality rate doubles in 3 years
Figures show that infant mortality rate in the capital has doubled in three years between 2005-07. The fact comes in the wake of claims that per capita expenditure on health in Delhi was Rs 685--nearly thrice of the national average of Rs 260. Figures shown in the 'Economic Survey of Delhi 2008-09', released in the Vidhan Sabha yesterday, reveal that while infant mortality per thousand in 2005 was 12.89, it shot up to 25.44 in 2007. The figure for 2006 was 18.05 per thousand. According to the report, the death rate in 2007 shot up to 6.07 from 5.99 in 2005, which was slightly less that 6.11 in 2006.
June18, 2009 :Delhi getting richer faster than the country
Delhi's per capita income more than doubled the national average to stand at Rs.60,189, an increase of 5.6 percent over the previous corresponding period, according to the Economic Survey of Delhi (2008-09). The gross state domestic product (GSDP) rose 12.5 percent to Rs.109,201 crore against an all India average of nine percent. Though the national capital increased its literacy rate to 82 percent, it added only about 97,000 students to its schools during the period under review. The national literacy average stood at 65 percent.
June19, 2009 : CG govt formulates Cybercrime Act
The Raman Singh government has formulated ''Chhattisgarh Cyber Cafe Act-2009'' to effectively curb criminal activities in the cyberspace. The act formulated under the Information Technology Act 2000, would be effective exactly thirty days after its publication in the official gazette. While banning dissemination of obscene materials, including pornography and other indecent exposure in cyber cafe, the act had given ample power to the police to conduct raids on cyber cafe at any time on the basis of complaints. It had also made ID proof compulsory for all customers of cyber cafe and directed the owners to get photographs of women through web camera for use of internet without Identity Card.
June19, 2009 : Tripura power project gets central nod
The Cabinet Committee on Economic Affairs (CCEA) Friday gave go-ahead to the 100-MW Tripura gas-based power project, to be developed by the state-run North Eastern Electric Power Corp (Neepco). The estimated cost of the project is Rs.421.01 crore.
June19, 2009 : Punjab to improve buffalo breeds for higher milk yield
On the recommendations of the Punjab State Farmers Commission, the Punjab Government would soon undertake an intensive Buffalo Breed Improvement and Management Programme under Rashtriya Krishi Vigyan Yojana (RKVY). This scheme will be implemented by Milkfed with technical support and expertise from the state Animal Husbandry department and in close association with key private players/NGOs in buffalo breeding. The programme is aimed at supplementing the income of small farmers and rural landless workers in the state. Under the programme, 600 Integrated Buffalo Development Centers (IBDCs) covering 3000 villages would be set in the areas of Kandi, Bet, Border and trans-Ghaggar areas at a cost of Rs 60 crore under RKVY over five years involving 2 NGOs-- J K Trust and BAIF, which had already been successfully implementing breed development programme in other states of the country.
The State Government has approved the first private university in the State to be set up by the Azim Premji Foundation under an Act of the Karnataka legislature. The university will promote quality education management programmes and training for teaching staff. The Chairman of Wipro, who has been extending support to the Government in improving educational facilities in several districts of the Hyderabad Karnatak region over the past decade, had approached Chief Minister B.S. Yeddyurappa and Minister for Higher Education Aravind Limbavali to set up a private university.
June18, 2009 :Delhi infant mortality rate doubles in 3 years
Figures show that infant mortality rate in the capital has doubled in three years between 2005-07. The fact comes in the wake of claims that per capita expenditure on health in Delhi was Rs 685--nearly thrice of the national average of Rs 260. Figures shown in the 'Economic Survey of Delhi 2008-09', released in the Vidhan Sabha yesterday, reveal that while infant mortality per thousand in 2005 was 12.89, it shot up to 25.44 in 2007. The figure for 2006 was 18.05 per thousand. According to the report, the death rate in 2007 shot up to 6.07 from 5.99 in 2005, which was slightly less that 6.11 in 2006.
June18, 2009 :Delhi getting richer faster than the country
Delhi's per capita income more than doubled the national average to stand at Rs.60,189, an increase of 5.6 percent over the previous corresponding period, according to the Economic Survey of Delhi (2008-09). The gross state domestic product (GSDP) rose 12.5 percent to Rs.109,201 crore against an all India average of nine percent. Though the national capital increased its literacy rate to 82 percent, it added only about 97,000 students to its schools during the period under review. The national literacy average stood at 65 percent.
June19, 2009 : CG govt formulates Cybercrime Act
The Raman Singh government has formulated ''Chhattisgarh Cyber Cafe Act-2009'' to effectively curb criminal activities in the cyberspace. The act formulated under the Information Technology Act 2000, would be effective exactly thirty days after its publication in the official gazette. While banning dissemination of obscene materials, including pornography and other indecent exposure in cyber cafe, the act had given ample power to the police to conduct raids on cyber cafe at any time on the basis of complaints. It had also made ID proof compulsory for all customers of cyber cafe and directed the owners to get photographs of women through web camera for use of internet without Identity Card.
June19, 2009 : Tripura power project gets central nod
The Cabinet Committee on Economic Affairs (CCEA) Friday gave go-ahead to the 100-MW Tripura gas-based power project, to be developed by the state-run North Eastern Electric Power Corp (Neepco). The estimated cost of the project is Rs.421.01 crore.
June19, 2009 : Punjab to improve buffalo breeds for higher milk yield
On the recommendations of the Punjab State Farmers Commission, the Punjab Government would soon undertake an intensive Buffalo Breed Improvement and Management Programme under Rashtriya Krishi Vigyan Yojana (RKVY). This scheme will be implemented by Milkfed with technical support and expertise from the state Animal Husbandry department and in close association with key private players/NGOs in buffalo breeding. The programme is aimed at supplementing the income of small farmers and rural landless workers in the state. Under the programme, 600 Integrated Buffalo Development Centers (IBDCs) covering 3000 villages would be set in the areas of Kandi, Bet, Border and trans-Ghaggar areas at a cost of Rs 60 crore under RKVY over five years involving 2 NGOs-- J K Trust and BAIF, which had already been successfully implementing breed development programme in other states of the country.
June18, 2009: India-China PM hotline in a month
June18, 2009:India will do nothing harmful on river project says Bangladesh
June18, 2009:Indias Exim Bank gets $60 mn to support small businesses
June18, 2009:Number of hungry people to top 1 bn in 2009: UN
June 19, 2009: 11th US-India Counterterrorism Joint Working Group Meeting
June 19, 2009: World Bank to grant $180-mn loan for India's power plants
June 19, 2009: India to become Financial Action Task Force member
June 19, 2009: India eligible for a pie of ADB's funds
June18, 2009:India will do nothing harmful on river project says Bangladesh
June18, 2009:Indias Exim Bank gets $60 mn to support small businesses
June18, 2009:Number of hungry people to top 1 bn in 2009: UN
June 19, 2009: 11th US-India Counterterrorism Joint Working Group Meeting
June 19, 2009: World Bank to grant $180-mn loan for India's power plants
June 19, 2009: India to become Financial Action Task Force member
June 19, 2009: India eligible for a pie of ADB's funds
June18, 2009: India-China PM hotline in a month
In a bid to facilitate better communication between the two countries, India and China have agreed to establish a hotline at the level of the Prime Ministers within the next 30 days. This point was reiterated at the one-on-one meeting between Prime Minister Manmohan Singh and Chinese President Hu Jintao on the sidelines of the BRIC summit in the Russian city of Yekaterinburg.
June18, 2009:India will do nothing harmful on river project says Bangladesh
Bangladesh has expressed confidence that India would do "nothing harmful" on a proposed river dam in Manipur state in north-eastern India, a minister of bangladesh Dipu Moni has said.
In a bid to facilitate better communication between the two countries, India and China have agreed to establish a hotline at the level of the Prime Ministers within the next 30 days. This point was reiterated at the one-on-one meeting between Prime Minister Manmohan Singh and Chinese President Hu Jintao on the sidelines of the BRIC summit in the Russian city of Yekaterinburg.
June18, 2009:India will do nothing harmful on river project says Bangladesh
Bangladesh has expressed confidence that India would do "nothing harmful" on a proposed river dam in Manipur state in north-eastern India, a minister of bangladesh Dipu Moni has said.
India started the construction of Tipaimukh Dam on river Barak in 2003 to generate electricity. Since the river Barak-Surma-Kushyara is an international river, Bangladesh as a lower riparian country should have an equitable share of water, this is what Bangladesh argues.
June18, 2009:Indias Exim Bank gets $60 mn to support small businesses
The Export-Import Bank of India is getting a $60 million international trade facility to help support export-focused small and medium enterprises, which have suffered reduced access to finance due to global financial crisis. The transaction follows the signing of a memorandum of cooperation between IFC and G-NEXID, an organisation of emerging-market export credit agencies and development institutions focused on trade between developing countries in May.
June18, 2009:Number of hungry people to top 1 bn in 2009: UN
Some 1.02 billion people are likely to go hungry in 2009, a UN agency said blaming the "historic" high figure on the global economic crisis. In Asia and the Pacific, an estimated 642 million people are suffering from chronic hunger; in Sub-Saharan Africa 265 million; in Latin America and the Caribbean 53 million; in the Near East and North Africa 42 million; and in the developed countries 15 million in total.
June 19, 2009: 11th US-India Counterterrorism Joint Working Group Meeting
India and the US have agreed to coordinate global counter-terrorism efforts and asked the international community to come together to combat the menace in a sustained and comprehensive manner. In a joint statement on Wednesday, after the meeting of the 11th US-India Counterterrorism Joint Working Group, India and the US strongly condemned terrorism in all of its forms and manifestations, recognising it as a major threat to democracy, international peace and security. They also called upon all states to abide by their commitments under the UN Global Counter Terrorism Strategy adopted by the UN General Assembly in September 2006.
June 19, 2009: World Bank to grant $180-mn loan for India's power plants
The World Bank on June 18, 2009 has approved a $80-million loan for the renovation and modernisation of old, polluting and inefficient coal-fired power plants in India. The project, which is expected to lower carbon emissions and boost power production at these plants, is co-financed with a $45.4-million grant from the Global Environment Facility (GEF). This has been done in a move to reduce Carbon Emissions. With the proposal, around 200-220 MW capacity each of the three coal-fired power plants at Bandel in West Bengal, Koradi in Maharashtra, and Panipat, Haryana will be modernised.
June 19, 2009: India to become Financial Action Task Force member
India might be able to secure membership of the Financial Action Task Force only in 2010, as the scheduled mutual-evaluation with the international body, a pre-requisite for the membership, will happen only by 2009-end.
Getting membership of the FATF, an inter-government body formed to tackle money laundering and terrorist financing, would enable India to get international cooperation in such cases and would change perception of India abroad. Also, Indian banks would not have to face regulatory hurdles in setting up of overseas branches. Money laundering is a global menace and as India becomes a prominent global business destination, FATF membership gains all the more importance, said Singh and added that it would also open the doors for Indian banks to expand globally.
Enactment of the amended Prevention of Money Laundering Act, which was passed by Parliament recently to make the anti-money laundering regime more effective, was the final step for India to move towards getting the coveted membership of FATF next year.
June18, 2009:Indias Exim Bank gets $60 mn to support small businesses
The Export-Import Bank of India is getting a $60 million international trade facility to help support export-focused small and medium enterprises, which have suffered reduced access to finance due to global financial crisis. The transaction follows the signing of a memorandum of cooperation between IFC and G-NEXID, an organisation of emerging-market export credit agencies and development institutions focused on trade between developing countries in May.
June18, 2009:Number of hungry people to top 1 bn in 2009: UN
Some 1.02 billion people are likely to go hungry in 2009, a UN agency said blaming the "historic" high figure on the global economic crisis. In Asia and the Pacific, an estimated 642 million people are suffering from chronic hunger; in Sub-Saharan Africa 265 million; in Latin America and the Caribbean 53 million; in the Near East and North Africa 42 million; and in the developed countries 15 million in total.
June 19, 2009: 11th US-India Counterterrorism Joint Working Group Meeting
India and the US have agreed to coordinate global counter-terrorism efforts and asked the international community to come together to combat the menace in a sustained and comprehensive manner. In a joint statement on Wednesday, after the meeting of the 11th US-India Counterterrorism Joint Working Group, India and the US strongly condemned terrorism in all of its forms and manifestations, recognising it as a major threat to democracy, international peace and security. They also called upon all states to abide by their commitments under the UN Global Counter Terrorism Strategy adopted by the UN General Assembly in September 2006.
June 19, 2009: World Bank to grant $180-mn loan for India's power plants
The World Bank on June 18, 2009 has approved a $80-million loan for the renovation and modernisation of old, polluting and inefficient coal-fired power plants in India. The project, which is expected to lower carbon emissions and boost power production at these plants, is co-financed with a $45.4-million grant from the Global Environment Facility (GEF). This has been done in a move to reduce Carbon Emissions. With the proposal, around 200-220 MW capacity each of the three coal-fired power plants at Bandel in West Bengal, Koradi in Maharashtra, and Panipat, Haryana will be modernised.
June 19, 2009: India to become Financial Action Task Force member
India might be able to secure membership of the Financial Action Task Force only in 2010, as the scheduled mutual-evaluation with the international body, a pre-requisite for the membership, will happen only by 2009-end.
Getting membership of the FATF, an inter-government body formed to tackle money laundering and terrorist financing, would enable India to get international cooperation in such cases and would change perception of India abroad. Also, Indian banks would not have to face regulatory hurdles in setting up of overseas branches. Money laundering is a global menace and as India becomes a prominent global business destination, FATF membership gains all the more importance, said Singh and added that it would also open the doors for Indian banks to expand globally.
Enactment of the amended Prevention of Money Laundering Act, which was passed by Parliament recently to make the anti-money laundering regime more effective, was the final step for India to move towards getting the coveted membership of FATF next year.
Since February 2007, India has been participating as an observer at FATF, the first step in getting full membership of the FATF. India is also a member of the APG (the Asia-Pacific Group on Money Laundering), an associate member of FATF.
June 19, 2009: China selling fake 'Made in India' drugs
The World Health Organization (WHO) estimates that more than 30 per cent of medicines sold in Africa, Asia, and Latin America are spurious.Several seizures have found that the fake drugs have a 'Made in India' tag.
June 19, 2009: India eligible for a pie of ADB's funds
The Asian Development Bank has said India can access part of the $3 billion additional funds allocated by the bank to help developing nations in tackling the global economic crisis. The bank has come up with the 'Countercyclical Support Facility' (CSF) aimed at helping developing nations in their effort to ramp up their fiscal spending.
The amount for each country from the facility would be capped at $500 million. The programme would provide short-term, fast-disbursing loans. The loans under the new facility would have a lower cost than charged for loans disbursed during the East Asian crisis. The loans could be repaid in eight years.
June 19, 2009: China selling fake 'Made in India' drugs
The World Health Organization (WHO) estimates that more than 30 per cent of medicines sold in Africa, Asia, and Latin America are spurious.Several seizures have found that the fake drugs have a 'Made in India' tag.
June 19, 2009: India eligible for a pie of ADB's funds
The Asian Development Bank has said India can access part of the $3 billion additional funds allocated by the bank to help developing nations in tackling the global economic crisis. The bank has come up with the 'Countercyclical Support Facility' (CSF) aimed at helping developing nations in their effort to ramp up their fiscal spending.
The amount for each country from the facility would be capped at $500 million. The programme would provide short-term, fast-disbursing loans. The loans under the new facility would have a lower cost than charged for loans disbursed during the East Asian crisis. The loans could be repaid in eight years.
June18, 2009: Inflation turns negative, drops to -1.61%
June 19, 2009: India largest investor in UK after the US
June 19, 2009 : India's FX reserves at $263.644 bn as on June 12
June19, 2009, State Bank to acquire State Bank of Indore
June 19, 2009: Mobile service revenue to cross $30 b by 2013’
June 19, 2009: India largest investor in UK after the US
June 19, 2009 : India's FX reserves at $263.644 bn as on June 12
June19, 2009, State Bank to acquire State Bank of Indore
June 19, 2009: Mobile service revenue to cross $30 b by 2013’
June 18, 2009 Premji wins Global Vision Award at USIBC
June 15, 2009 : IIFA Awards 2009: Jodha Akbar Sweeps with 10 Prizes
June 12, 2009 : Bindeshwar Pathak of Sulabh International gets UN Award
June 3, 2009 : Amrita & Joseph win research awards in America
June 2, 2009 : ICICI Bank's Hari Pandey bags corporate executive award
June 01, 2009 : Azim Premji honoured for being 'extraordinary humanitarian'
May 31, MTV Movie Awards: "Twilight" Sweeps
May 27, 2009 : Alice Munro of Canadais winner of the third Man Booker International Prize.
May 25, 2009: Suu Kyi gets 2009 Mahatma Gandhi peace award.
May 19, 2009 : Russian-French mathematician Mikhail Leonidovich Gromov receives the Abel Prize 2009
May 15, 2009 : Mysore Doreswamy Madhusudan gets Whitley Award
May 13, 2009 : Brazilian President Luiz Inácio Lula da Silva awarded UN cultural agency’s peace prize
May 12, 2009: Nikkei Asia Prize for Kiran Mazumdar Shaw
May 2, 2009: Bina Agarwal, Professor of Economics at the Institute of Economic Growth gets Leontif Award 2009
June 15, 2009 : IIFA Awards 2009: Jodha Akbar Sweeps with 10 Prizes
June 12, 2009 : Bindeshwar Pathak of Sulabh International gets UN Award
June 3, 2009 : Amrita & Joseph win research awards in America
June 2, 2009 : ICICI Bank's Hari Pandey bags corporate executive award
June 01, 2009 : Azim Premji honoured for being 'extraordinary humanitarian'
May 31, MTV Movie Awards: "Twilight" Sweeps
May 27, 2009 : Alice Munro of Canadais winner of the third Man Booker International Prize.
May 25, 2009: Suu Kyi gets 2009 Mahatma Gandhi peace award.
May 19, 2009 : Russian-French mathematician Mikhail Leonidovich Gromov receives the Abel Prize 2009
May 15, 2009 : Mysore Doreswamy Madhusudan gets Whitley Award
May 13, 2009 : Brazilian President Luiz Inácio Lula da Silva awarded UN cultural agency’s peace prize
May 12, 2009: Nikkei Asia Prize for Kiran Mazumdar Shaw
May 2, 2009: Bina Agarwal, Professor of Economics at the Institute of Economic Growth gets Leontif Award 2009
Amitabh Bachchan is the brand ambassador for IIFA.
Jodhaa Akbar swept the International Indian Film Acadmey (IIFA) awards 2009 . Jodha Akbar bagged 10 awards.
1. Hrithik Roshan got the best actor award and Ashutosh Gowariker the best director award.
2. Priyanka Chopra was named the best actress for her role in " Fashion ".
3. Kangana Ranaut for her performance in " Fashion ", Got Best Supporting Actress.
4. Arjun Rampal got the award for best male actor in a supporting role in " Rock On! "
5. Abhishek Bachchan got the best comic actor for his performance in " Dostana "
6. Akshaye Khanna got best actor in a negative role for " Race ".
7. Neeraj Pandey was given IIFA best story award for " A Wednesday "
8. Rahman was also named the best music director for his ompositions in " Jodhaa Akbar
9. Javed Ali Best Male Playback Singer award for " Jashn-e-bahaara " in " Jodhaa Akbar
10. Shreya Ghoshal was named the best female playback singer for " Teri ore " in hit romantic comedy " Singh is Kinng ".
11. Javed Akhtar won the best lyricist award for penning the song " Jashn-e-bahaara " for " Jodhaa Akbar ".
12. Aishwarya , the daughter-in-law of IIFA brand ambassador Amitabh Bachchan, was honoured with a special award for an outstanding achievement in international cinema.
13. Director-turned actor Farhan Akhtar got the best male debutant of the year award for " Rock On !", while Asin Thottumkal got best female debut award for action thriller " Ghajini ".
14. Resul Pokkutty , who won Oscar for his work in "Slumdog Millionaire", bagged sound recording trophy for Aamir Khan starrer " Ghajini ".
15. Neeta Lulla walked away with the best costume design award for " Jodhaa Akbar ",
16. Ballu Saluja got award for best editing
17. Nitin Chandrakant Desai for and best art direction of Jodha Akabr
18. Madhav Kadam bagged Best Make Up award For Jodha Akabar
Also honours were given to commemorate 10 years of IIFA awards.
1. " Lagaan " was declared the best movie of the decade
2. Rajesh Khanna was given the lifetime achievement award,
3. Shah Rukh Khan and Aishwarya Rai were respectively declared the male and female actors of the decade,
4. Rakesh Roshan was named director of the decade
5. Double Oscar-winning A.R. Rahman was honoured with the composer of the decade award.
June 12, 2009 : Bindeshwar Pathak of Sulabh International gets UN Award
Bindeshwar Pathak, founder of Sulabh International that runs public toilets in India, was honored by the Intergovernmental Renewable Energy Organization at the United Nations headquarters in New York on June 12, 2009 for developing low cost toilet technology to produce energy out of human excreta.
June 3, 2009 : Amrita & Joseph win research awards in America
Amrita Sehgal, 18, from Ohio is one of the two $50,000 first prize winners in the 2009 Young Epidemiology Scholars Competition for American high school students for her research on osteoporosis. Allan Joseph, 17, won $35,000 second prize winners for his study on ligament injuries in high school students.
June 2, 2009 : ICICI Bank's Hari Pandey bags corporate executive award
Hari Pandey, ICICI Bank president and CEO, wealth management, for the North American region, has been selected for Indo-Canada Chamber of Commerce's Corporate Executive of the Year Award. Pandey,had founded ICICI Bank in Canada in March 2003.
Jodhaa Akbar swept the International Indian Film Acadmey (IIFA) awards 2009 . Jodha Akbar bagged 10 awards.
1. Hrithik Roshan got the best actor award and Ashutosh Gowariker the best director award.
2. Priyanka Chopra was named the best actress for her role in " Fashion ".
3. Kangana Ranaut for her performance in " Fashion ", Got Best Supporting Actress.
4. Arjun Rampal got the award for best male actor in a supporting role in " Rock On! "
5. Abhishek Bachchan got the best comic actor for his performance in " Dostana "
6. Akshaye Khanna got best actor in a negative role for " Race ".
7. Neeraj Pandey was given IIFA best story award for " A Wednesday "
8. Rahman was also named the best music director for his ompositions in " Jodhaa Akbar
9. Javed Ali Best Male Playback Singer award for " Jashn-e-bahaara " in " Jodhaa Akbar
10. Shreya Ghoshal was named the best female playback singer for " Teri ore " in hit romantic comedy " Singh is Kinng ".
11. Javed Akhtar won the best lyricist award for penning the song " Jashn-e-bahaara " for " Jodhaa Akbar ".
12. Aishwarya , the daughter-in-law of IIFA brand ambassador Amitabh Bachchan, was honoured with a special award for an outstanding achievement in international cinema.
13. Director-turned actor Farhan Akhtar got the best male debutant of the year award for " Rock On !", while Asin Thottumkal got best female debut award for action thriller " Ghajini ".
14. Resul Pokkutty , who won Oscar for his work in "Slumdog Millionaire", bagged sound recording trophy for Aamir Khan starrer " Ghajini ".
15. Neeta Lulla walked away with the best costume design award for " Jodhaa Akbar ",
16. Ballu Saluja got award for best editing
17. Nitin Chandrakant Desai for and best art direction of Jodha Akabr
18. Madhav Kadam bagged Best Make Up award For Jodha Akabar
Also honours were given to commemorate 10 years of IIFA awards.
1. " Lagaan " was declared the best movie of the decade
2. Rajesh Khanna was given the lifetime achievement award,
3. Shah Rukh Khan and Aishwarya Rai were respectively declared the male and female actors of the decade,
4. Rakesh Roshan was named director of the decade
5. Double Oscar-winning A.R. Rahman was honoured with the composer of the decade award.
June 12, 2009 : Bindeshwar Pathak of Sulabh International gets UN Award
Bindeshwar Pathak, founder of Sulabh International that runs public toilets in India, was honored by the Intergovernmental Renewable Energy Organization at the United Nations headquarters in New York on June 12, 2009 for developing low cost toilet technology to produce energy out of human excreta.
June 3, 2009 : Amrita & Joseph win research awards in America
Amrita Sehgal, 18, from Ohio is one of the two $50,000 first prize winners in the 2009 Young Epidemiology Scholars Competition for American high school students for her research on osteoporosis. Allan Joseph, 17, won $35,000 second prize winners for his study on ligament injuries in high school students.
June 2, 2009 : ICICI Bank's Hari Pandey bags corporate executive award
Hari Pandey, ICICI Bank president and CEO, wealth management, for the North American region, has been selected for Indo-Canada Chamber of Commerce's Corporate Executive of the Year Award. Pandey,had founded ICICI Bank in Canada in March 2003.
June 01, 2009 : Azim Premji honoured for being 'extraordinary humanitarian'
Wipro Chairman Azim Premji and founder of the Azim Premji Foundation has been conferred doctor of humane letters by Wesleyan University, Connecticut, United States. The honorary degree was conferred on Premji in recognition of his achievements as a 'renowned entrepreneur, global business leader and extraordinary humanitarian who has demonstrated a commitment to education and the well being of fellow citizens. Premji is the second Indian recipient of this award. Nobel Prize winner Amartya Kumar Sen was awarded an honorary doctorate in 1995.
May 31, MTV Movie Awards: "Twilight" Sweeps
18th annual MTV Movie Awards were held at the Gibson Amphitheater on the Universal Studios lot near Hollywood. "Twilight " got the best movie award and some other awards.
Best Movie - "Twilight"
Best Male Performance - Zac Efron ("High School Musical 3: Senior Year")
Best Female Performance - Kristen Stewart ("Twilight")
Best Villain - Heath Ledger ("The Dark Knight")
Best Comedic Performance - Jim Carrey ("Yes Man")
Best Fight - Robert Pattinson Vs. Cam Gigandet ("Twilight")
Best Kiss - Robert Pattinson And Kristen Stewart ("Twilight")
Best Female Breakthrough Performance - Ashley Tisdale ("High School Musical 3: Senior Year")
May 27, 2009 : Alice Munro is winner of the third Man Booker International Prize.
Alice Munro is todayis winner of the third Man Booker International Prize.
The Man Booker International Prize is worth £60,000 to the winner and is awarded once every two years to a living author for a body of work that has contributed to an achievement in fiction on the world stage. It was first awarded to Ismail Kadaré in 2005 and then to Chinua Achebe in 2007. Munro is best known for her short stories and is one of Canada's most celebrated writers.
May 25, 2009: Suu Kyi gets 2009 Mahatma Gandhi peace award
The Mahatma Gandhi Foundation in South Africa has awarded the 2009 Mahatma Gandhi International Award for Peace and Justice to the leader of National League for Democracy (NLD) of Myanmar Suu Kyi. Chairman of Mahatma Gandhi Foundation in South Africa is Ela Gandhi
May 19, 2009 : Russian-French mathematician Mikhail Leonidovich Gromov receives the Abel Prize 2009
The Norwegian Academy of Science and Letters has decided to award the Abel Prize for 2009 to the Russian-French mathematician Mikhail Leonidovich Gromov (65) for “his revolutionary contributions to geometry”.
Wipro Chairman Azim Premji and founder of the Azim Premji Foundation has been conferred doctor of humane letters by Wesleyan University, Connecticut, United States. The honorary degree was conferred on Premji in recognition of his achievements as a 'renowned entrepreneur, global business leader and extraordinary humanitarian who has demonstrated a commitment to education and the well being of fellow citizens. Premji is the second Indian recipient of this award. Nobel Prize winner Amartya Kumar Sen was awarded an honorary doctorate in 1995.
May 31, MTV Movie Awards: "Twilight" Sweeps
18th annual MTV Movie Awards were held at the Gibson Amphitheater on the Universal Studios lot near Hollywood. "Twilight " got the best movie award and some other awards.
Best Movie - "Twilight"
Best Male Performance - Zac Efron ("High School Musical 3: Senior Year")
Best Female Performance - Kristen Stewart ("Twilight")
Best Villain - Heath Ledger ("The Dark Knight")
Best Comedic Performance - Jim Carrey ("Yes Man")
Best Fight - Robert Pattinson Vs. Cam Gigandet ("Twilight")
Best Kiss - Robert Pattinson And Kristen Stewart ("Twilight")
Best Female Breakthrough Performance - Ashley Tisdale ("High School Musical 3: Senior Year")
May 27, 2009 : Alice Munro is winner of the third Man Booker International Prize.
Alice Munro is todayis winner of the third Man Booker International Prize.
The Man Booker International Prize is worth £60,000 to the winner and is awarded once every two years to a living author for a body of work that has contributed to an achievement in fiction on the world stage. It was first awarded to Ismail Kadaré in 2005 and then to Chinua Achebe in 2007. Munro is best known for her short stories and is one of Canada's most celebrated writers.
May 25, 2009: Suu Kyi gets 2009 Mahatma Gandhi peace award
The Mahatma Gandhi Foundation in South Africa has awarded the 2009 Mahatma Gandhi International Award for Peace and Justice to the leader of National League for Democracy (NLD) of Myanmar Suu Kyi. Chairman of Mahatma Gandhi Foundation in South Africa is Ela Gandhi
May 19, 2009 : Russian-French mathematician Mikhail Leonidovich Gromov receives the Abel Prize 2009
The Norwegian Academy of Science and Letters has decided to award the Abel Prize for 2009 to the Russian-French mathematician Mikhail Leonidovich Gromov (65) for “his revolutionary contributions to geometry”.
The Abel Prize recognizes contributions of extraordinary depth and influence to the mathematical sciences and has been awarded annually since 2003. It carries a cash award of NOK 6,000,000 (close to € 700,000, US$ 950,000). Mikhail L. Gromov will receive the Abel Prize from His Majesty King Harald at an award ceremony in Oslo, Norway, May 19.
The Abel Prize is an international prize presented annually by the King of Norway to one or more outstanding mathematicians. The prize is named after Norwegian mathematician Niels Henrik Abel (1802–1829).
It has been often described as the "mathematician's Nobel" prize and is among the most prestigious awards in mathematics. It comes with a monetary award, which in 2009 was 684,000 euro (929,000 US dollar). The Norwegian Academy of Science and Letters annually declares the winner of the Abel Prize after selection by a committee of five internationaal mathematicians.
May 15, 2009 : Mysore Doreswamy Madhusudan gets Whitley Award
Mysore Doreswamy Madhusudan, Ph. D., is an Indian wildlife biologist and ecologist. Madhusudan was conferred the Whitley Award, popularly called Green Oscar in May 2009 in recognition of his work to reduce human-wildlife conflict in the Western Ghats. Madhusudan and NCF have said the grant from the award of £30,000, donated by HSBC, will go towards conservation activities, primarily for crop protection, in Anamalai-Parambikulam Elephant Reserve habitat.
May 15, 2009 : Mysore Doreswamy Madhusudan gets Whitley Award
Mysore Doreswamy Madhusudan, Ph. D., is an Indian wildlife biologist and ecologist. Madhusudan was conferred the Whitley Award, popularly called Green Oscar in May 2009 in recognition of his work to reduce human-wildlife conflict in the Western Ghats. Madhusudan and NCF have said the grant from the award of £30,000, donated by HSBC, will go towards conservation activities, primarily for crop protection, in Anamalai-Parambikulam Elephant Reserve habitat.
He has worked on understanding and mitigating the effects of human-wildlife conflict in the Nilgiri Biosphere Reserve in South India. He has also worked in several other forests in the Himalayas and North-east India. In 2004, he was a one of the team of wildlife biologists who described Arunachal Macaque, a new species of macaque from Arunachal Pradesh.
May 13, 2009 : Brazilian President Luiz Inácio Lula da Silva awarded UN cultural agency’s peace prize
The United Nations Educational, Scientific and Cultural Organization (UNESCO) on may 13, 2009 awarded its annual peace prize to President Luiz Inácio Lula da Silva of Brazil for his actions in pursuit of peace, dialogue, democracy, social justice and equal rights, as well as for his valuable contribution to the eradication of poverty and the protection of minorities’ rights.
May 12, 2009: Nikkei Asia Prize for Kiran Mazumdar Shaw
Ms Kiran Mazumdar Shaw, Chairman and Managing Director of Biocon Ltd, has been chosen for the Nikkei Asia Prize 2009 for Regional Growth for her pioneering work in biotechnology in India.
‘Nikkei’ or Japan’s prestigious business daily Nihon Keizai Shimbun, has been annually presenting the Nikkei Asia Prizes since 1996 to outstanding individuals or institutions from the Asia-Pacific region contributing to improving the quality of life in Asia. Earlier recipients include Dr Manmohan Singh, Mr N.R. Narayana Murthy and Prof Mohammed Yunus of the Bangladesh Grameen Bank fame.
May 2, 2009: Bina Agarwal, Professor of Economics at the Institute of Economic Growth gets Leontif Award 2009
The Leontief Award 2009 has been conferred on Bina Agarwal, Professor of Economics at the Institute of Economic Growth.The award has been instituted in honour of Nobel laureate Wassily Leontief, given by the Global Development and Environment Institute at Tufts University, US.
The Leontief Award is conferred to recognize outstanding contribution to economic theory that addresses contemporary realities and supports just and sustainable societies
May 13, 2009 : Brazilian President Luiz Inácio Lula da Silva awarded UN cultural agency’s peace prize
The United Nations Educational, Scientific and Cultural Organization (UNESCO) on may 13, 2009 awarded its annual peace prize to President Luiz Inácio Lula da Silva of Brazil for his actions in pursuit of peace, dialogue, democracy, social justice and equal rights, as well as for his valuable contribution to the eradication of poverty and the protection of minorities’ rights.
May 12, 2009: Nikkei Asia Prize for Kiran Mazumdar Shaw
Ms Kiran Mazumdar Shaw, Chairman and Managing Director of Biocon Ltd, has been chosen for the Nikkei Asia Prize 2009 for Regional Growth for her pioneering work in biotechnology in India.
‘Nikkei’ or Japan’s prestigious business daily Nihon Keizai Shimbun, has been annually presenting the Nikkei Asia Prizes since 1996 to outstanding individuals or institutions from the Asia-Pacific region contributing to improving the quality of life in Asia. Earlier recipients include Dr Manmohan Singh, Mr N.R. Narayana Murthy and Prof Mohammed Yunus of the Bangladesh Grameen Bank fame.
May 2, 2009: Bina Agarwal, Professor of Economics at the Institute of Economic Growth gets Leontif Award 2009
The Leontief Award 2009 has been conferred on Bina Agarwal, Professor of Economics at the Institute of Economic Growth.The award has been instituted in honour of Nobel laureate Wassily Leontief, given by the Global Development and Environment Institute at Tufts University, US.
The Leontief Award is conferred to recognize outstanding contribution to economic theory that addresses contemporary realities and supports just and sustainable societies
June 18, 2009 Committee to review Coastal Security
June 19, 2009: Navy seals 45,000-cr deal: seven warships
June 20, 2009 : Sarod maestro Ali Akbar Khan passes away
June 20, 2009: 797th Urs of Khawaja Moinuddin Chisty begins in Ajmer
June 20, 2009 Andhra Pradesh 'e-parishakaram for speedy redressal of grievances
June 21, 2009 : A committee headed by by K.V.L. Rao to suggest powerful engine for Jaguar
June 22, 2009 Govt's approves Armed Forces Tribunal members' appointment
June 22, 2009 Ashok Gehlot wants special status for Rajasthan
June 22, 2009 : Indian Bans CPI (maoist)
June 23, 2009 : Punjab Finalises 31 Biomass projects
June 25, 2009 Class 10 board exams to be optional
June 26, 2009 : 3rd East Asia Gender Equality Ministerial, Seoul
June 19, 2009: Navy seals 45,000-cr deal: seven warships
June 20, 2009 : Sarod maestro Ali Akbar Khan passes away
June 20, 2009: 797th Urs of Khawaja Moinuddin Chisty begins in Ajmer
June 20, 2009 Andhra Pradesh 'e-parishakaram for speedy redressal of grievances
June 21, 2009 : A committee headed by by K.V.L. Rao to suggest powerful engine for Jaguar
June 22, 2009 Govt's approves Armed Forces Tribunal members' appointment
June 22, 2009 Ashok Gehlot wants special status for Rajasthan
June 22, 2009 : Indian Bans CPI (maoist)
June 23, 2009 : Punjab Finalises 31 Biomass projects
June 25, 2009 Class 10 board exams to be optional
June 26, 2009 : 3rd East Asia Gender Equality Ministerial, Seoul
He is considered a descendent of Muhammad and is also known asSultan -i Hind, Shaikh & Khalifa. He preached tolerance and unity of all religions, died in Ajmer where his tomb has become a shrine for millions of people from around the world.
It was during the reign of Emperor Akbar (1556-1605) that Ajmer emerged as one of the most important centers of pilgrimage in India. Akbar undertook an unceremonial journey on foot to accomplish his wish to reach Ajmer. The Akbarnamah records that the Emperor’s interest first sparked when he heard some minstrels singing songs about the virtues of the Wali (Friend of God) who lay asleep in Ajmer.
It was during the reign of Emperor Akbar (1556-1605) that Ajmer emerged as one of the most important centers of pilgrimage in India. Akbar undertook an unceremonial journey on foot to accomplish his wish to reach Ajmer. The Akbarnamah records that the Emperor’s interest first sparked when he heard some minstrels singing songs about the virtues of the Wali (Friend of God) who lay asleep in Ajmer.
note: A bomb had went off inside the complex on Thursday 11 October 2007 evening killing three people and injuring 17 others
June 20, 2009 'e-parishakaram for speedy redressal of grievances
East Godavari District in Andhra Pradesh is launching a new on line system e-parishakaram aimed at speedy redressel of the peoples' grievances. The first of its kind in the state, works as a single window at district, division and mandal levels for receiving and speedy redressel of grievances.
June 21, 2009 : A committee headed by by K.V.L. Rao to suggest powerful engine for Jaguar
The Indian Air Force has set up a committee to indicate which new engine will be suited to power India’s frontline but overweight and underpowered Jaguar tactical light strike fighter. This committe will be headed by K.V.L. Rao, an aero engine expert and former project director (propulsion systems) with the Aeronautical Development Agency
Task of the committee:
June 20, 2009 'e-parishakaram for speedy redressal of grievances
East Godavari District in Andhra Pradesh is launching a new on line system e-parishakaram aimed at speedy redressel of the peoples' grievances. The first of its kind in the state, works as a single window at district, division and mandal levels for receiving and speedy redressel of grievances.
June 21, 2009 : A committee headed by by K.V.L. Rao to suggest powerful engine for Jaguar
The Indian Air Force has set up a committee to indicate which new engine will be suited to power India’s frontline but overweight and underpowered Jaguar tactical light strike fighter. This committe will be headed by K.V.L. Rao, an aero engine expert and former project director (propulsion systems) with the Aeronautical Development Agency
Task of the committee:
The task is to choose between proposals from Honeywell and Rolls Royce, both of which have replied to the request for proposal that was sent out as part of the Indian Air Force programme for new engines for Jaguar. This programme is related to acquisition of 280 engines, including spare engines for around 120 aircraft.
Honeywell is offering its F125N, a 43.8 kilo Newton (kN) thrust engine,
Rolls Royce, whose Adour Mk811 (32.5 kN) presently powers the IAF’s Jaguars, proposes its Adour Mk821 turbofan.
Of 1970s vintage, the Anglo-French designed Jaguar has been with the IAF since 1979, when the first of the two twin-engine fighter aircraft landed in India. But from the beginning, the IAF, which has over 100 Jaguars — acquired either directly from BAE Systems or built under licence by Hindustan Aeronautics Limited — has persistently complained of a lack of thrust from the aircraft’s Rolls Royce / Turbomeca manufactured Mk804E or Rolls Royce Mk811 engines, especially during critical hot weather and high altitude missions.
June 22, 2009 Govt's approves Armed Forces Tribunal members' appointment
The Government has approved the appointment of eight judicial and 15 administrative members in the Armed Forces Tribunal for a period of four years to dispense cost effective and speedy justice to the armed forces personnel.
Of 1970s vintage, the Anglo-French designed Jaguar has been with the IAF since 1979, when the first of the two twin-engine fighter aircraft landed in India. But from the beginning, the IAF, which has over 100 Jaguars — acquired either directly from BAE Systems or built under licence by Hindustan Aeronautics Limited — has persistently complained of a lack of thrust from the aircraft’s Rolls Royce / Turbomeca manufactured Mk804E or Rolls Royce Mk811 engines, especially during critical hot weather and high altitude missions.
June 22, 2009 Govt's approves Armed Forces Tribunal members' appointment
The Government has approved the appointment of eight judicial and 15 administrative members in the Armed Forces Tribunal for a period of four years to dispense cost effective and speedy justice to the armed forces personnel.
The appointed members will serve for a period of four years or till the age of 65 years, whichever is earlier and will be in the pay bracket of Rs 26,000 as per the Fifth Pay Commission.
The judicial members of the tribunal include serving Justices Janardan Sahai, Manak Lall Mohta and Bhanwaroo Khan.
About 9,000 cases, currently pending in various High courts across the country, will be transferred to the tribunal.This tribunal will be inaugurated by President Pratibha Patil by this year end.
June 22, 2009 Ashok Gehlot wants special status for Rajasthan
Rajasthan Chief Minister Ashok Gehlot has emphasized on his demand for special state status to the desert state in view of the peculiar geographical, social and economic circumstances and chronic drinking water crisis. This issue was raised by Chief Minister at Finance Ministers' meet in New Delhi. He was demanding special status to the state for drinking water.
Mr Gehlot was leading the state officials team at the meeting, Finance Commission team was led by Chairman Dr Vijay Kelkar.
About Drinking Water problem of Rajasthan:
June 22, 2009 Ashok Gehlot wants special status for Rajasthan
Rajasthan Chief Minister Ashok Gehlot has emphasized on his demand for special state status to the desert state in view of the peculiar geographical, social and economic circumstances and chronic drinking water crisis. This issue was raised by Chief Minister at Finance Ministers' meet in New Delhi. He was demanding special status to the state for drinking water.
Mr Gehlot was leading the state officials team at the meeting, Finance Commission team was led by Chairman Dr Vijay Kelkar.
About Drinking Water problem of Rajasthan:
1. Rajasthan ccupies 10.4 per cent Geographical area of the country, of which more than 60 per cent area was desert and the availability of water was only 1.04 per cent of the total water of the country.
2. Rajasthan is facing severe drinking water problem as only 32 blocks out of 232 blocks were considered safe.
3. Rajasthan largely depends upon ground water & water mining in the state was 137 per cent, whereas it was only 47 per cent in Gujarat, 70 per cent in Uttar Pradesh, 45 per cent in Andhra Pradesh, 85 per cent in Tamilnadu and 48 per cent in Maharashtra.
4. Rajasthan Govt. on June 19, 2009 has launched a "Harit Rajasthan" programme. This is a Chief Ministers flagship scheme envisages planting of over 30 lakh saplings on vacant land in schools, colleges, hospitals and government offices as well as in public parks and along the roadside and highways.
What is watermining ?
In hydrology, water mining is the extraction of water from non-replenishing groundwater or glacial reserves.The more is the figure in percentage , the more that particular place is exhausted of the water reserves.
June 22, 2009 : Indian Bans CPI (maoist)
The Union Government has decided to ban the Communist Party of India (Maoist), calling it as a terrorist organisation under the Unlawful Activity (Prevention) Act 1967. The Maoist organisation is banned by many states including Andhra Pradesh and Chattisgarh and now the centre overrides the West Bengal government's decision not to ban the CPI-Maoist.
Origin of CPI (Maoist)
The Union Government has decided to ban the Communist Party of India (Maoist), calling it as a terrorist organisation under the Unlawful Activity (Prevention) Act 1967. The Maoist organisation is banned by many states including Andhra Pradesh and Chattisgarh and now the centre overrides the West Bengal government's decision not to ban the CPI-Maoist.
Origin of CPI (Maoist)
It was founded on September 21, 2004, through the merger of the Communist Party of India (Marxist-Leninist) People's War and the Maoist Communist Centre of India under the leadership of M Lakshman Rao alias Ganapati.
Why they are called maoist?
Why they are called maoist?
They belive that they are conducting 'people's war', a strategical line developed by Mao Zedong during the phase of guerrilla warfare of the Communist Party of China.
They are reffred as Naxalites in reference to the Naxalbari insurrection by radical Maoists in West Bengal in 1967.
They made their presence felt in strategic locations like Dandakaranya, parts of Vindhyas and Western Ghats from West Bengal to Karnataka calling it as a "Red Corridor" There are nearly 20,000-armed guerillas present in this 92,000 sq Kilometre stretch.
In India , CPI (M) is now listed with thirty four other organisations including Lashker-e -Toiba,(LeT) and Students Islamic Movement of India (SIMI) as the terrorist organisation.
June 23, 2009 : Punjab Finalises 31 Biomass projects:
he Punjab Energy Development Agency (PEDA) has finalised the allocation of 31 biomass based-projects with aggregate capacity of 338 MW to private developers. These biomass-based power projects having capacity ranging from 5 MW to 20 MW each will be set up in 31 tehsils of the State on the basis of competitive bidding in line with the States, new and renewable sources of energy policy.
June 25, 2009: Class 10 board exams to be optional
The Minister of Human Resource Development, Mr Kapil Sibal has said that the Class 10 Board examinations should be made optional along with putting a grading system in place for Standard Nine and 10 in schools affiliated to the Central Board of Secondary Education. This is to de-traumatise education.
He also proposed the formation of an autonomous overarching regulatory and assessment authority for higher education which would subsume the University Grants Commission, the All-India Council of Technical Education and the Medical Council of India. This is in line with the recommendations of the Professor Yashpal Committee and the National Knowledge Commission. Also, there will be a review of the functioning of existing ‘deemed universities’.
June 26, 2009 : 3rd East Asia Gender Equality Ministerial, Seoul
Plenary Session of 3rd East Asia Gender Equality Ministerial meeting was held at Seoul. Union Minister for Women and Child Development Krishna Tirath has said that the Indian Government is making efforts to protect women from economic slow down and also enable them to uplift themselves. The Self help group movement is being strengthened further to mobilize more and more women for income generating activities with linkage to micro credit.
They are reffred as Naxalites in reference to the Naxalbari insurrection by radical Maoists in West Bengal in 1967.
They made their presence felt in strategic locations like Dandakaranya, parts of Vindhyas and Western Ghats from West Bengal to Karnataka calling it as a "Red Corridor" There are nearly 20,000-armed guerillas present in this 92,000 sq Kilometre stretch.
In India , CPI (M) is now listed with thirty four other organisations including Lashker-e -Toiba,(LeT) and Students Islamic Movement of India (SIMI) as the terrorist organisation.
June 23, 2009 : Punjab Finalises 31 Biomass projects:
he Punjab Energy Development Agency (PEDA) has finalised the allocation of 31 biomass based-projects with aggregate capacity of 338 MW to private developers. These biomass-based power projects having capacity ranging from 5 MW to 20 MW each will be set up in 31 tehsils of the State on the basis of competitive bidding in line with the States, new and renewable sources of energy policy.
June 25, 2009: Class 10 board exams to be optional
The Minister of Human Resource Development, Mr Kapil Sibal has said that the Class 10 Board examinations should be made optional along with putting a grading system in place for Standard Nine and 10 in schools affiliated to the Central Board of Secondary Education. This is to de-traumatise education.
He also proposed the formation of an autonomous overarching regulatory and assessment authority for higher education which would subsume the University Grants Commission, the All-India Council of Technical Education and the Medical Council of India. This is in line with the recommendations of the Professor Yashpal Committee and the National Knowledge Commission. Also, there will be a review of the functioning of existing ‘deemed universities’.
June 26, 2009 : 3rd East Asia Gender Equality Ministerial, Seoul
Plenary Session of 3rd East Asia Gender Equality Ministerial meeting was held at Seoul. Union Minister for Women and Child Development Krishna Tirath has said that the Indian Government is making efforts to protect women from economic slow down and also enable them to uplift themselves. The Self help group movement is being strengthened further to mobilize more and more women for income generating activities with linkage to micro credit.
Mr Sajjan Jindal, was awarded the 19th Willy Korf/Ken Iverson Steel Vision Award at the Steel Survival Strategies XXIV conference in New York for elevating JSW Steel to the select set of global producers. The award is named after Willy Korf and Ken Iverson who demonstrated vision, innovation and will power to alter the course of world steel.
June 23, 2009 Pramod Joshua is winner of the MAK Rally of Coimbatore
Pramod Joshua of TVS Racing, astride TVS Apache RTR, was declared the overall winner of the MAK Rally of Coimbatore, the first round of the Indian National Rally Championship for two-wheelers.Joshua led a TVS sweep as he clocked the fastest timings in all the six stages and won the 115 Kms rally with a total penalty of 01:22:49.
June 20, 2009 : World hunger reaches 1 billion mark: United Nations
24 Jun 2009,World Bank approves $24 million loan to Sri Lanka
June 24, 2009 : 150 years of the Red Cross
25 Jun 2009, China to build world's largest amphibious aircraft
25 Jun 2009, Taiwan legalizes prostitution
25 Jun 2009, Russia & Nigeria sign nuclear, gas pacts
27 Jun 2009,US announces shift in Afghanistan drug policy in presummit G-8 conference on Afganistan in Italy
27 Jun 2009, UNESCO adds more sites to heritage list, two endangered
June 27, 2009 : Lebanon's president names Hariri as premier
June 27, 2009 : Under Nineteen World Cup shifted from Kenya to New Zealand
24 Jun 2009,World Bank approves $24 million loan to Sri Lanka
June 24, 2009 : 150 years of the Red Cross
25 Jun 2009, China to build world's largest amphibious aircraft
25 Jun 2009, Taiwan legalizes prostitution
25 Jun 2009, Russia & Nigeria sign nuclear, gas pacts
27 Jun 2009,US announces shift in Afghanistan drug policy in presummit G-8 conference on Afganistan in Italy
27 Jun 2009, UNESCO adds more sites to heritage list, two endangered
June 27, 2009 : Lebanon's president names Hariri as premier
June 27, 2009 : Under Nineteen World Cup shifted from Kenya to New Zealand
June 26, 2009 Pop icon Michael Jackson dies at 50
25 Jun 2009, TV actress Farrah Fawcett dead at 62
Treating prostitution as a matter of human rights, the government concluded that punishing sexual transactions only forced them underground, leaving sex workers open to abuse.This will male island the latest place in the world to decriminalise the world’s oldest profession-prostitution.
About 600,000 people are involved in sex-related jobs in Taiwan. Historically, prostitution had been legal and regulated by the government, but in 1974 the government stopped licensing new brothels, and in 1997, prostitution was declared illegal, although usually only the prostitute was prosecuted, not the customer, and prostitution remained widespread.
25 Jun 2009, Russia & Nigeria sign nuclear, gas pacts
Russia & Nigeria have signed a raft of agreements to boost cooperation on oil, gas and nuclear energy during a historic visit to Africa's most populous nation Nigeria by the Russian President Dmitry Medvedev.
27 Jun 2009,US announces shift in Afghanistan drug policy in presummit G-8 conference on Afganistan in Italy
In a pre-summit conference in Trieste, Italy bringing together the G8 and major states in the region including Pakistan, Saudi Arabia, the United Arab Emirates, Egypt and Turkey. The US envoy for Afghanistan, Richard Holbrooke,has said that US has announced a new drug policy for opium-rich Afghanistan, saying it was phasing out funding for eradication programs while significantly increasing its funding for alternate crop and drug interdiction efforts.
Iran had been invited to attend the G-8 meeting on Afghanistan, because anti-drug efforts in Afghanistan have been identified as a key area where the United States and Iran can work together -- part of President Barack Obama's outreach effort. However Italy withdrew the invitation after Iran failed to respond and after its bloody post-election crackdown on protesters, which has sparked international condemnation.
Italy's Foreign minister Franco Frattini of Italy is the current G-8 president.
About Opium in Afganistan :
1. Afghanistan is the world's leading source of opium, cultivating 93% of the world's heroin-producing crop.
2. The United Nations has estimated the Taliban and other Afghan militants made $50 million to $70 million of last year's opium and heroin trade.
3. According to the UN report, opium poppy eradication reached a high in 2003, after the Taliban were ousted from power, with over 21,000 hectares (51,900 acres) eradicated.
4. In 2008, only 5,480 hectares (13,500 acres) were cut down compared with 19,047 hectares (47,000 acres) in 2007.
5. Afghan opium would kill 100,000 people this year in the parts of world where demand for heroin is highest: Europe, Russia and West Asia.
25 Jun 2009, Russia & Nigeria sign nuclear, gas pacts
Russia & Nigeria have signed a raft of agreements to boost cooperation on oil, gas and nuclear energy during a historic visit to Africa's most populous nation Nigeria by the Russian President Dmitry Medvedev.
27 Jun 2009,US announces shift in Afghanistan drug policy in presummit G-8 conference on Afganistan in Italy
In a pre-summit conference in Trieste, Italy bringing together the G8 and major states in the region including Pakistan, Saudi Arabia, the United Arab Emirates, Egypt and Turkey. The US envoy for Afghanistan, Richard Holbrooke,has said that US has announced a new drug policy for opium-rich Afghanistan, saying it was phasing out funding for eradication programs while significantly increasing its funding for alternate crop and drug interdiction efforts.
Iran had been invited to attend the G-8 meeting on Afghanistan, because anti-drug efforts in Afghanistan have been identified as a key area where the United States and Iran can work together -- part of President Barack Obama's outreach effort. However Italy withdrew the invitation after Iran failed to respond and after its bloody post-election crackdown on protesters, which has sparked international condemnation.
Italy's Foreign minister Franco Frattini of Italy is the current G-8 president.
About Opium in Afganistan :
1. Afghanistan is the world's leading source of opium, cultivating 93% of the world's heroin-producing crop.
2. The United Nations has estimated the Taliban and other Afghan militants made $50 million to $70 million of last year's opium and heroin trade.
3. According to the UN report, opium poppy eradication reached a high in 2003, after the Taliban were ousted from power, with over 21,000 hectares (51,900 acres) eradicated.
4. In 2008, only 5,480 hectares (13,500 acres) were cut down compared with 19,047 hectares (47,000 acres) in 2007.
5. Afghan opium would kill 100,000 people this year in the parts of world where demand for heroin is highest: Europe, Russia and West Asia.
27 Jun 2009, UNESCO adds more sites to heritage list, two endangered
UNESCO has put two natural sites, a coral reef in Belize and Los Katios National Park in Colombia, on its list of endangered world heritage.
It was decided in the UN cultural agency's World Heritage Committee meeting in Seville, Spain.
The committee removed the walled city of Baku from the endangered list.
Problem of Coral reef in Belize: Belize Barrier Reef Reserve System was inscribed on the UNESCO World Heritage List in 1996 as the largest barrier reef in the northern hemisphere. Mangrove cutting and excessive development is the main problem of the Coral Reef.
Problem of Los Katios National Park : The park is threatened by deforestation in areas inside and around the property due to the illegal extraction of timber. It was inscribed in 1994 for its exceptional biological diversity It is also also suffering from illegal fishing and hunting
June 27, 2009 : Lebanon's president names Hariri as premier
Saad ed Deen Rafiq al-Hariri is a Lebanese-Saudi businessman and politician, and the second son of Rafiq Hariri, the assassinated former Prime Minister of Lebanon. After his father's death, he inherited the helm of the Movement of the Future, an essentially Sunni movement that was created and led by his father. Saad Hariri was designated on June 27, 2009 as Lebanon's new prime minister after his anti-Syrian coalition won the majority in parliament earlier this month. Hariri is to succeed outgoing Prime Minister Fouad Seniora, a member of Hariri's Future Current movement.
June 27, 2009 : Under Nineteen World Cup shifted from Kenya to New Zealand
The International Cricket Council (ICC) has decided to shift the 2010 Under-19 World Cup from Kenya to New Zealand due to the underpreparedness of the African nation.
The International Cricket Council (ICC) has decided to shift the 2010 Under-19 World Cup from Kenya to New Zealand due to the underpreparedness of the African nation.
About U-19 World Cup : The ICC Under 19 Cricket World Cup is an international cricket tournament contested by national under-19 teams. The event was initially staged as a one-off event in Australia in 1988, and has been held every two years since 1998.
India and U-19 World Cup:
Indian won the world cup in 2000 & 2008.
India and U-19 World Cup:
Indian won the world cup in 2000 & 2008.
June 26, 2009 Pop icon Michael Jackson dies at 50
Michael Jackson, the king of pop died at UCLA Medical Centre in Los Angeles after suffering a cardiac arrest. He was preparing for his much-hyped 50-date comeback in London which were due to start on July 13. The singer, who was the seventh of nine children from a well-known musical family, debuted on the professional music scene at the age of 11 as a member of 'The Jackson 5', and began a solo career in 1971.
Jackson was one of the few artists to have been inducted into the Rock and Roll Hall of Fame twice. His other achievements include multiple Guinness World Records, 13 Grammy awards and the sales of his over 750 million albums worldwide.
Some of his albums:
Off the Wall (1979),
Thriller (1982),
Bad (1987)
Dangerous (1991)
In 1993, he was accused of child sexual abuse but could not be charged due to lack of evidence. In 2005, Jackson was tried and acquitted of further sexual abuse allegations and several other charges.
Michael Jackson, the king of pop died at UCLA Medical Centre in Los Angeles after suffering a cardiac arrest. He was preparing for his much-hyped 50-date comeback in London which were due to start on July 13. The singer, who was the seventh of nine children from a well-known musical family, debuted on the professional music scene at the age of 11 as a member of 'The Jackson 5', and began a solo career in 1971.
Jackson was one of the few artists to have been inducted into the Rock and Roll Hall of Fame twice. His other achievements include multiple Guinness World Records, 13 Grammy awards and the sales of his over 750 million albums worldwide.
Some of his albums:
Off the Wall (1979),
Thriller (1982),
Bad (1987)
Dangerous (1991)
In 1993, he was accused of child sexual abuse but could not be charged due to lack of evidence. In 2005, Jackson was tried and acquitted of further sexual abuse allegations and several other charges.
25 Jun 2009, TV actress Farrah Fawcett dead at 62
Actress Farrah Fawcett,who was best known for her role in television series "Charlie's Angels," has died. She was 62.
June 19, 2009 : Current carbon dioxide levels highest in past 2.1 mn years
June 21, 2009: Duty cuts sought on cancer, AIDS medicines
June 23, 2009 NASA's Cassini spacecraft captures never-before-seen images of Saturn
June 23, 2009 : Ashoka education foundation world's first international environment Olympiad
June 27, 2009 : Dutch firm launches pain-free cancer treatment in India
June 21, 2009: Duty cuts sought on cancer, AIDS medicines
June 23, 2009 NASA's Cassini spacecraft captures never-before-seen images of Saturn
June 23, 2009 : Ashoka education foundation world's first international environment Olympiad
June 27, 2009 : Dutch firm launches pain-free cancer treatment in India
Present day carbon dioxide levels in the atmosphere have touched the highest mark in the past 2.1 million years which may result in large scale climatic changes from the greenhouse effect, says a study published in the June 19 edition of the journal Science says the present levels of carbon dioxide are 38 per cent higher than the levels that hovered around 280 parts per million during last 2.1 million years.
June 21, 2009: Duty cuts sought on cancer, AIDS medicines;
The Department of Pharmaceuticals which was created in 2008 under the Ministry of Chemicals and Fertilizers, has sought an across-the-board cut in these critical segments cancer and AIDS medicines in the budget. Excise and customs duties on select drugs in these segments are already reduced or down to zero. It also requested the Ministry of Finance that weighted deduction on research be extended from 2010 to 2017. At present drug companies get 125 per cent weighted deduction on research outsourced to a third party and 150 per cent on in-house research.
June 23, 2009 NASA's Cassini spacecraft captures never-before-seen images of Saturn
The imaging science team on NASA's Cassini spacecraft has released never-before-seen images and movies from the planet Saturn. Thease images include time-lapse sequences in which Saturnian moons eclipse each other and cast long shadows onto the planet's famous rings, represents.
About the Mission:
This is named as Equinox Mission,of Cassini a robotic explorer that has been orbiting Saturn since July 1, 2004.
June 23, 2009 : Ashoka education foundation announces world's first international environment Olympiad
With a view to enhance the awareness of the schools and students of the world, Dr. Jawahar Surisetti, director of Ashoka Education Foundation, in association with the American Center (the cultural wing of the US Consulate) have come together to devise an Olympiad which will reach the schools and students from classes 1 to 12.
The Olympiad tests the awareness of the children about the environment and rewards them with the title of Earth Genius. The International Environment Olympiad is designed to involve the student, nudge their thought processes and force them to think about the world that they are going to inherit. Reliance Webworld is the Communications Partner for this event. The American Center provides expertise and resources to facilitate conduction of the Olympiad.
The Olympiad is held for 3 levels, the primary level for classes 1to 4, the middle level for classes 5 to 8 and the secondary level for classes 9 to 12. The first round kicks of on the world ozone day, ie. 16th September 2009.
June 27, 2009 Dutch firm launches pain-free cancer treatment in India
Dutch pharmaceutical major Brema Pharma International has launched photodynamic therapy, a pain-free technique for treating cancer with lasers and light sensitive drugs, saying it will invest 1 million euros ($1.4 million) in its Indian operations. Presently this technique is used in every leading hospital of Europe and is recognised by all medical institutions. Brema Pharma has started its operations in a private skin hospital in Panchkula in Haryana. It will first treat skin cancer patients and will cover all cancer patients in the coming months. The Photodynamic therapy requires no cuts. It is pain-free and the recovery period is also very short.
June 20, 2009: The safest country in the world - New Zealand , India on Bottom
June 22, 2009 : India to sign labour agreement with Denmark
June 22, 2009 : ISSA sets up office in Delhi
June 25, 2009 : India has 25% of world's highest paid expats
June 26, 2009 : Gandhi statue unveiled in Leicester amid tight security
June 27, 2009 : Pakistan SC rejects Indian prisoner Sarabjit's mercy petition.
June 22, 2009 : India to sign labour agreement with Denmark
June 22, 2009 : ISSA sets up office in Delhi
June 25, 2009 : India has 25% of world's highest paid expats
June 26, 2009 : Gandhi statue unveiled in Leicester amid tight security
June 27, 2009 : Pakistan SC rejects Indian prisoner Sarabjit's mercy petition.
June 21, 2009 : India begins poverty alleviation project in China
India has stepped into actual funding of a poverty alleviation project in China,the first-ever India funded project. It is a farmers’ training and information centre established in the relatively backward province of Ningxia. It was inaugurated by Nirupama Rao, Indian ambassador in China, and Wang Zhengwei, chairman of the Ningxia Hui Autonomous Region, in Liangtian township on Saturday. The NHAR is jointly funding the project with the Indian government.
There is another project in China funded by India, which is an Indian style Buddhist temple close to the historic While Horse temple in Luoyang in Henan province. But this is the first opportunity for both Chinese and Indian officials to share experiences on poverty eradication.
June 22, 2009: Developing countries' GDP to slow to 1.2%: World Bank
The World Bank has estimated economic growth in developing countries of 1.2% this year (without China and India, output would shrink 1.6%. ) China's economy was forecast to expand 7.2% in 2009 and 7.7% in 2010, while India's forecast was for 5.1% followed by 8.0%. The latest World Bank forecasts on gross domestic product (GDP) -- a measure of goods and services output in a country -- came in a report, "Global Development Finance 2009: Charting a Global Recovery. This report was published in co incidence with a three-day Annual Bank Conference on Development Economics
June 22, 2009 India to sign labour agreement with Denmark
India will sign a labour agreement with Denmark as part of the Governments effort to explore employment opportunities in European countries for skilled and semi-skilled Indian workers. Union Minister of Overseas Indian Affairs Vayalar Ravi has said that the Indian Government was planning to sign such agreements with other European countries to boost the employment opportunities for skilled and semi-skilled workers in the country.
June 22, 2009 ISSA sets up office in Delhi
Sub-Regional Liaison Office for the International Social Security Association (ISSA) South Asia opened in New Delhi.
About ISSA : Founded in 1927, the International Social Security Association is a global organisation whose members are from national social security administrations and agencies of different countries throughout the world. ISSAs main office is located at the International Labour Organisation (ILO) headquarters in Geneva, Switzerland.
The office in Delhi will cover member organisations from Bhutan, Iran, Nepal, Pakistan and Sri Lanka, apart from India. The ESI Corporation (ESIC) has been a member of the ISSA since the early 60s. ISSA has active members in 144 countries and is at present running nearly 344 social security schemes.
June 25, 2009 : India has 25% of world's highest paid expats
Asian countries are home to some of the wealthiest expatriates in the world and about 25 per cent of the highest paid foreign assignees' prefer to live in India, as per a report named 2009 Expat Explorer Survey by HSBC Bank International.
The highest proportion of expats earning more than $250,000 are in Hong Kong (27 per cent), Japan (26 per cent) and India (25 per cent) compared with a global average of 16 per cent.
June 26, 2009 : Gandhi statue unveiled in Leicester amid tight security
A large statue of Mahatma Gandhi was unveiled in Leicester by the British home minister amid tight security after internet protesters warned it could be defaced.
June 26, 2009 : World Bank approves credit of $100 million for Madhya Pradesh
The World Bank has approved a 100 million dollar International Development Association(IDA) credit to India, designed to address rural poverty in Madhya Pradesh.
Madhya Pradesh had launched Madhya Pradesh District Poverty Initiatives Project (MPDPIP) which was approved by the World Bank in 2000, which covered over 2,900 villages spread across 14 districts. It has helped organise some 325,000 poor rural households into over 52,000 Common Interest Groups (CIGs), providing them with financial and technical assistance. As per World Bank, this project has achieved some very impressive results.
The amount of $ 100 million is for the Second Madhya Pradesh District Poverty Initiatives Project (MPDPIP-II). The credit from the IDA, the World Banks concessionary lending arm, carries a 0.75 per cent service fee, a 10-year grace period and a maturity of 35 years.
This project MDPPIP-II is designed to empower the poor by organising them into Self Help Groups (SHGs) and facilitate their federation into cluster level organisations, to enable them to access higher value markets, formal financial intermediaries, among other things. It will develop the capacity of SHGs to start or enhance their livelihoods activities and strengthen their business operations through producer based federations, companies and cooperatives.
June 27, 2009 : Pakistan SC rejects Indian prisoner Sarabjit's mercy petition.
The fate of Indian prisoner Sarabjit Singh hung by a slender thread as Pakistan's Supreme Court on Wednesday dismissed his review petition challenging the death sentence handed out to him in 1991, leaving him at the mercy of a presidential pardon by Asif Ali Zardari. Sarabjit is being convicted for alleged involvement in four bomb blasts in Lahore in 1990 that killed 14 people in Pakistan by an anti-terrorism court in 1991.
This project MDPPIP-II is designed to empower the poor by organising them into Self Help Groups (SHGs) and facilitate their federation into cluster level organisations, to enable them to access higher value markets, formal financial intermediaries, among other things. It will develop the capacity of SHGs to start or enhance their livelihoods activities and strengthen their business operations through producer based federations, companies and cooperatives.
June 27, 2009 : Pakistan SC rejects Indian prisoner Sarabjit's mercy petition.
The fate of Indian prisoner Sarabjit Singh hung by a slender thread as Pakistan's Supreme Court on Wednesday dismissed his review petition challenging the death sentence handed out to him in 1991, leaving him at the mercy of a presidential pardon by Asif Ali Zardari. Sarabjit is being convicted for alleged involvement in four bomb blasts in Lahore in 1990 that killed 14 people in Pakistan by an anti-terrorism court in 1991.
June 19, 2009:Govt looking at proposal to divest 10% in BHEL
June 19, 2009 :TCS opens new center in Mexico
June 20, 2009 :India-Britain trade could reach $40 bn by 2015
21 Jun 2009: Apparel exports fell by 10 per cent in April
June 21, 2009: PSEB ranked third among 33 power utilities
June 24 , 2009 : GAIL to invest Rs 7,600-crore for 2 pipeline projects for karnataka
June 25, 2009 : Amul ranked amongst top 21 dairy businesses of the world
June 26, 2009 : Cane support price raised to Rs 107.76 a quintal
June 27, 2009 : Indra Nooyi, Shantanu Narayen named among America's "25 Top Gun CEOs"
June 28, 2009 : LIC will invest Rs. 50000 crore in equities in Fy'10
June 19, 2009 :TCS opens new center in Mexico
June 20, 2009 :India-Britain trade could reach $40 bn by 2015
21 Jun 2009: Apparel exports fell by 10 per cent in April
June 21, 2009: PSEB ranked third among 33 power utilities
June 24 , 2009 : GAIL to invest Rs 7,600-crore for 2 pipeline projects for karnataka
June 25, 2009 : Amul ranked amongst top 21 dairy businesses of the world
June 26, 2009 : Cane support price raised to Rs 107.76 a quintal
June 27, 2009 : Indra Nooyi, Shantanu Narayen named among America's "25 Top Gun CEOs"
June 28, 2009 : LIC will invest Rs. 50000 crore in equities in Fy'10
June 19: Govt looking at proposal to divest 10% in BHEL
Minister for Heavy Industries and Public Enterprises, Mr Vilasrao Deshmukh has said that the Government is considering the proposal to divest 10 per cent stake in Bharat Heavy Electricals Ltd. The Government at present holds a 67.72 per cent equity stake in the state owned enterprise. The stake sale could bring into the company’s kitty about Rs 9,600 crore based on the company’s current market price. He also said that the Government was also considering stake sale in other public enterprises such as the loss-making Tide Water Oil (India) Ltd, Tyre Corp. of India, Andrew Yule & Co Ltd.
June 19, 2009 TCS opens new center in Mexico
Tata Consultancy Services, India's largest outsourcing firm, has opened a new center in Queretaro, Mexico. TCS would hire 500 people to work at the new center, its third in Mexico since entering the country in 2003.
Minister for Heavy Industries and Public Enterprises, Mr Vilasrao Deshmukh has said that the Government is considering the proposal to divest 10 per cent stake in Bharat Heavy Electricals Ltd. The Government at present holds a 67.72 per cent equity stake in the state owned enterprise. The stake sale could bring into the company’s kitty about Rs 9,600 crore based on the company’s current market price. He also said that the Government was also considering stake sale in other public enterprises such as the loss-making Tide Water Oil (India) Ltd, Tyre Corp. of India, Andrew Yule & Co Ltd.
June 19, 2009 TCS opens new center in Mexico
Tata Consultancy Services, India's largest outsourcing firm, has opened a new center in Queretaro, Mexico. TCS would hire 500 people to work at the new center, its third in Mexico since entering the country in 2003.
The company has seven centers across Latin America, in Brazil, Argentina, Uruguay, and Chile, as well as Mexico, and employs information technology consultants in 42 countries around the world.
June 20, 2009 : CII India Business Forum-UK
June 20, 2009 : CII India Business Forum-UK
As per a report by the Confederation of Indian Industry (CII) "Bilateral trade between India and Britain, which crossed $12 billion during last fiscal year , has the potential to touch $40 bn by 2015. CII president Venu Srinivasan was leading the CII India Business Forum-UK to britain June 21-23. The 16-member delegation focussed on taking India-Britain ties into a strategic direction, uncovering new avenues of collaboration, and addressing issues of global concern such as regulation of the financial system, climate change and security.
21 Jun 2009: Apparel exports fell by 10 per cent in April
Garment exports from the country dropped to USD 800 million in April this fiscal from USD 886 million in the same month of 2007-08 as per the data of Apparel Export Promotion Council.
June 21, 2009: PSEB ranked third among 33 power utilities
Punjab State Electricity Board (PSEB) has been ranked third among 33 power utilities in 14 States, according to the Quarterly Performance Report of the State Power Utilities (SPUs) framed by the Power Finance Corporation for the quarter ended December 2008.
Union Bank of India cuts BPLR by 25 bps to 11.75%
Union Bank of India has decided to cut its benchmark prime lending rate (BPLR) by 25 basis points to 11.75 per cent, with effect from July 1. This is the fifth successive reduction since November 2008. Till now, the Bank has reduced a total of 225 bps in BPLR.
June 24 , 2009 : GAIL approved a Rs 7,600-crore investment for two pipeline projects for karnataka
The board of the public sector GAIL (India) Ltd has approved a Rs 7,600-crore investment for two pipeline projects linking Karnataka to the National Gas Grid. The projects include linking both Kochi and Dabhol to Bangalore. GAIL has a pipeline infrastructure of 7,000 km in the country.
June 25, 2009 : Amul ranked amongst top 21 dairy businesses of the world
Amul has been ranked amongst the top 21 largest dairy businesses in the world as per the findings published by International Farm Comparison Network (IFCN) at the 10th IFCN Dairy Conference 2009 at Stockholm. Amul is on Rank 21 World based on the milk intake during the year 2007. However due to growth in last two years Amul rank could have been 16 in the current year .
About IFCN: The IFCN is a network of dairy researchers responsible for analysing global dairy trends and creating knowledge to guide the various stakeholders in the dairy sector covering about 80 countries, over 60 dairy related companies, a number of dairy related institutions and dairy farmers. It publishes "IFCN Dairy Report" every year.
About India's Milk Production:
India with its milk production touching 114.4 Million MTs during the year (under review) is the largest milk producer in the World.
The second and third ranks are of USA and Germany with 79.3 Million MTs and 39.4 Million MTs respectively
This is because of the White Revolution pioneered by Amul.
About White Revolution & Operation Flood:
Operation Flood was a rural development programme started by India's National Dairy Development Board (NDDB) in 1970. Amul was the engine behind the success of Operation Flood and in turn became a mega company based on the cooperative approach. Verghese Kurien who was chairman of NDDB at that time gave the professional management skills and necessary thrust to the cooperative, and is considered the architect of India's 'White Revolution' (Operation Flood). His work has been recognised by the award of a Padma Bhushan, the Ramon Magsaysay Award for Community Leadership, the Carnegie-Wateler World Peace Prize, and the World Food Prize. One of the largest of its kind, the programme objective was to create a nationwide milk grid.
June 26, 2009 Cane support price raised to Rs 107.76 a quintal
The govt. has approved an almost one-third increase in the statutory minimum price (SMP) of sugarcane from Rs 81.18 to Rs 107.76 a quintal to be payable by mills in the forthcoming 2009-10 crushing season (October-September).
21 Jun 2009: Apparel exports fell by 10 per cent in April
Garment exports from the country dropped to USD 800 million in April this fiscal from USD 886 million in the same month of 2007-08 as per the data of Apparel Export Promotion Council.
June 21, 2009: PSEB ranked third among 33 power utilities
Punjab State Electricity Board (PSEB) has been ranked third among 33 power utilities in 14 States, according to the Quarterly Performance Report of the State Power Utilities (SPUs) framed by the Power Finance Corporation for the quarter ended December 2008.
Union Bank of India cuts BPLR by 25 bps to 11.75%
Union Bank of India has decided to cut its benchmark prime lending rate (BPLR) by 25 basis points to 11.75 per cent, with effect from July 1. This is the fifth successive reduction since November 2008. Till now, the Bank has reduced a total of 225 bps in BPLR.
June 24 , 2009 : GAIL approved a Rs 7,600-crore investment for two pipeline projects for karnataka
The board of the public sector GAIL (India) Ltd has approved a Rs 7,600-crore investment for two pipeline projects linking Karnataka to the National Gas Grid. The projects include linking both Kochi and Dabhol to Bangalore. GAIL has a pipeline infrastructure of 7,000 km in the country.
June 25, 2009 : Amul ranked amongst top 21 dairy businesses of the world
Amul has been ranked amongst the top 21 largest dairy businesses in the world as per the findings published by International Farm Comparison Network (IFCN) at the 10th IFCN Dairy Conference 2009 at Stockholm. Amul is on Rank 21 World based on the milk intake during the year 2007. However due to growth in last two years Amul rank could have been 16 in the current year .
About IFCN: The IFCN is a network of dairy researchers responsible for analysing global dairy trends and creating knowledge to guide the various stakeholders in the dairy sector covering about 80 countries, over 60 dairy related companies, a number of dairy related institutions and dairy farmers. It publishes "IFCN Dairy Report" every year.
About India's Milk Production:
India with its milk production touching 114.4 Million MTs during the year (under review) is the largest milk producer in the World.
The second and third ranks are of USA and Germany with 79.3 Million MTs and 39.4 Million MTs respectively
This is because of the White Revolution pioneered by Amul.
About White Revolution & Operation Flood:
Operation Flood was a rural development programme started by India's National Dairy Development Board (NDDB) in 1970. Amul was the engine behind the success of Operation Flood and in turn became a mega company based on the cooperative approach. Verghese Kurien who was chairman of NDDB at that time gave the professional management skills and necessary thrust to the cooperative, and is considered the architect of India's 'White Revolution' (Operation Flood). His work has been recognised by the award of a Padma Bhushan, the Ramon Magsaysay Award for Community Leadership, the Carnegie-Wateler World Peace Prize, and the World Food Prize. One of the largest of its kind, the programme objective was to create a nationwide milk grid.
June 26, 2009 Cane support price raised to Rs 107.76 a quintal
The govt. has approved an almost one-third increase in the statutory minimum price (SMP) of sugarcane from Rs 81.18 to Rs 107.76 a quintal to be payable by mills in the forthcoming 2009-10 crushing season (October-September).
read about minimum support prices
June 27, 2009 Indra Nooyi, Shantanu Narayen named among America's "25 Top Gun CEOs"
Indra Nooyi of PepsiCo and Shantanu Narayen of Adobe Systems, have been named among America's "25 Top Gun CEOs" who put their companies on the path to success in the midst of a recession.Nooyi ranked no. 17 and Narayen ranked no. 16 in the list picked up by advisory agency Brendan Wood International.
June 28, 2009 : LIC will invest Rs. 50000 crore in equities in Fy'10
LIC has announced that it would invest about 50,000 crore rupees in the equity market during this financial year 2010. LIC had invested 40800 crore last year.
June 27, 2009 Indra Nooyi, Shantanu Narayen named among America's "25 Top Gun CEOs"
Indra Nooyi of PepsiCo and Shantanu Narayen of Adobe Systems, have been named among America's "25 Top Gun CEOs" who put their companies on the path to success in the midst of a recession.Nooyi ranked no. 17 and Narayen ranked no. 16 in the list picked up by advisory agency Brendan Wood International.
June 28, 2009 : LIC will invest Rs. 50000 crore in equities in Fy'10
LIC has announced that it would invest about 50,000 crore rupees in the equity market during this financial year 2010. LIC had invested 40800 crore last year.
Thomas Mathew who is MD of Life Insurance Corporation of India made this announcement.
What is a fiscal deficit?
What is Black Money ?
What is a Black Market?
What is a blue chip company? Why it is blue color only used in such companies?
What is a direct Tax?
What is an Indirect Tax?
What are LDCs or Least Developed Countries?
What are Middle Income Countries ?
What is Policy of Laissez Faire?
What is the difference between Monopoly and Monopsony ?
What is Black Money ?
What is a Black Market?
What is a blue chip company? Why it is blue color only used in such companies?
What is a direct Tax?
What is an Indirect Tax?
What are LDCs or Least Developed Countries?
What are Middle Income Countries ?
What is Policy of Laissez Faire?
What is the difference between Monopoly and Monopsony ?
1. What is a fiscal deficit?
A deficit in the government budget of a country and represents the excess of expenditure over income. So this is the amount of borrowed funds required by the government to meet its expenditures completely.
India's fiscal deficit widened to Rs. 541.58 billion in April, 2009 as compared to Rs. 329.39 billion rupees in April 2008.
2. What is Black Money ?
Black Money is the unaccounted money concealed from the tax authorities. The black money runs a parallel economy adversely affecting the distribution of wealth & income in the economy.
A deficit in the government budget of a country and represents the excess of expenditure over income. So this is the amount of borrowed funds required by the government to meet its expenditures completely.
India's fiscal deficit widened to Rs. 541.58 billion in April, 2009 as compared to Rs. 329.39 billion rupees in April 2008.
2. What is Black Money ?
Black Money is the unaccounted money concealed from the tax authorities. The black money runs a parallel economy adversely affecting the distribution of wealth & income in the economy.
The total amount of black money globally is estimated between $2.1 and 2.5 trillion. This is roughly about seven percent of the world’s GDP.
3.What is a Black Market?
A black market is an illegal market, in which something is bought and sold outside of official government-sanctioned channels. Black markets tend to arise when a government tries to fix a price without itself providing all of the necessary supply or demand. Black markets in foreign exchange almost always exist when there are exchange controls.
4.What is a blue chip company? Why it is blue color only used in such companies?
A blue chip is concerned with stocks & shares of company, which are well established and whose purchase is considered extremely safe. Due to stable earnings and no extensive liabilities these companies are called blue chip companies.
The term blue chip comes from casinos, where blue chips stand for counters of the highest value. Most blue chip stocks pay regular dividends, even when business is faring worse than usual.
5.What is a direct Tax?
A direct tax is that which is paid directly by someone to taxing authority. Income tax and property tax are examples of direct tax. They are not shifted to somebody else.
3.What is a Black Market?
A black market is an illegal market, in which something is bought and sold outside of official government-sanctioned channels. Black markets tend to arise when a government tries to fix a price without itself providing all of the necessary supply or demand. Black markets in foreign exchange almost always exist when there are exchange controls.
4.What is a blue chip company? Why it is blue color only used in such companies?
A blue chip is concerned with stocks & shares of company, which are well established and whose purchase is considered extremely safe. Due to stable earnings and no extensive liabilities these companies are called blue chip companies.
The term blue chip comes from casinos, where blue chips stand for counters of the highest value. Most blue chip stocks pay regular dividends, even when business is faring worse than usual.
5.What is a direct Tax?
A direct tax is that which is paid directly by someone to taxing authority. Income tax and property tax are examples of direct tax. They are not shifted to somebody else.
6.What is an Indirect Tax?
This type of tax is not paid by someone directly to the authorities and it is actually passed on to the other in the form of increased cost. They are levied on goods and services produced or purchased. Excise tax, Sales tax, VAT are indirect taxes.
7.What are LDCs or Least Developed Countries?
Least Developed Countries (LDCs) are countries which as per United Nations show the lowest indicators of socioeconomic development.
They have lowest Human Development Index ratings of all countries in the world.
A country which has three-year average Gross national Income per capita of less than US $750 is tagged as LDC. a LDC must have an income of $ 900 to escape this tag. Besides if thse countries show human resource weakness based on indicators of nutrition, health, education and adult literacy and also or economic vulnerability based on instability of economy . Currently UN has tagged 49 countries in LDC. India is not an LDC.
8.What are Middle Income Countries ?
Middle-income countries (MICs) are the 86 countries that fall into the middle-income range set by the Bank's World Development Indicators. They account for just under half of the world's population; are home to one-third of people across the globe living on less than $2 per day; and are found in all six of the Bank's geographical regions. They cover a wide income range, with the highest income MIC having a per capita income 10 times that of the lowest.
9.What is Policy of Laissez Faire?
Laissez Faire is a French term and means no interference. It is a doctrine that states that government generally should not intervene in the marketplace.
10.What is the difference between Monopoly and Monopsony ?
In monopsony only one buyer faces many sellers. So this is called Buyer's Monopoly. It is a rare situation in today's economy.
In monopoly one seller faces many buyers. As the only purchaser of a good or service, the "monopsonist" may dictate terms to its suppliers in the same manner that a monopolist controls the market for its buyers.
This type of tax is not paid by someone directly to the authorities and it is actually passed on to the other in the form of increased cost. They are levied on goods and services produced or purchased. Excise tax, Sales tax, VAT are indirect taxes.
7.What are LDCs or Least Developed Countries?
Least Developed Countries (LDCs) are countries which as per United Nations show the lowest indicators of socioeconomic development.
They have lowest Human Development Index ratings of all countries in the world.
A country which has three-year average Gross national Income per capita of less than US $750 is tagged as LDC. a LDC must have an income of $ 900 to escape this tag. Besides if thse countries show human resource weakness based on indicators of nutrition, health, education and adult literacy and also or economic vulnerability based on instability of economy . Currently UN has tagged 49 countries in LDC. India is not an LDC.
8.What are Middle Income Countries ?
Middle-income countries (MICs) are the 86 countries that fall into the middle-income range set by the Bank's World Development Indicators. They account for just under half of the world's population; are home to one-third of people across the globe living on less than $2 per day; and are found in all six of the Bank's geographical regions. They cover a wide income range, with the highest income MIC having a per capita income 10 times that of the lowest.
9.What is Policy of Laissez Faire?
Laissez Faire is a French term and means no interference. It is a doctrine that states that government generally should not intervene in the marketplace.
10.What is the difference between Monopoly and Monopsony ?
In monopsony only one buyer faces many sellers. So this is called Buyer's Monopoly. It is a rare situation in today's economy.
In monopoly one seller faces many buyers. As the only purchaser of a good or service, the "monopsonist" may dictate terms to its suppliers in the same manner that a monopolist controls the market for its buyers.
1. What is SATMO?
2. What is “Vande Mataram Scheme” ?
3. What is Golden Handshake Scheme?
4. What is India Brand Equity Fund?
5. What is Jago Grahak Jago”?
6. What is a revolving credit?
7. What is Gender Budgeting?
8. What is Soft Currency?
9. What are factors of production?
10. What is the principle of Diminishing returns?
2. What is “Vande Mataram Scheme” ?
3. What is Golden Handshake Scheme?
4. What is India Brand Equity Fund?
5. What is Jago Grahak Jago”?
6. What is a revolving credit?
7. What is Gender Budgeting?
8. What is Soft Currency?
9. What are factors of production?
10. What is the principle of Diminishing returns?
1. What is SATMO?
SATMO is Satellite Money Order Service introduced by Postal Department Govt. of India on December 16, 1994. However this scheme could not make its headway due to functional complicacies.
2. What is “Vande Mataram Scheme” ?
Vande mataram schem is a nationwide programme aimed at improving ante and post-natal care--which was launched on February 9, 2004. The scheme envisages free ante and post-natal check-ups, tips to avoid nutritional problems and anemia and counseling on small family norm and is a major initiative in Public Private partnerships during emergency.
3. What is Golden Handshake Scheme?
Golden handshake scheme is a Govt. of India scheme introduced as a Voluntary retirement Scheme (VRS) in Industrial Policy Resolution 1991 for reducing the pressure of extra employees on public sector enterprises.
4. What is India Brand Equity Fund?
This is a scheme to promote Indian Brands in Overseas Markets with the primary objective of brand promotion and not export promotion. To make the "Made in India" label a symbol of quality, competitive price, reliability and service to the customer & to project India as a reliable supplier of quality goods and services. It was established on July 11, 1996.
5. What is Jago Grahak Jago”?
The Consumer Awareness Scheme for the XI Plan amounting to a total of Rs. 409 crores has been approved by the Cabinet Committee on Economic Affairs on 24.01.08. This scheme has been formulated to give an increased thrust to a multi media publicity campaign to make consumers aware of their rights. The slogan ‘Jago Grahak Jago’ is part of the publicity campaign undertaken in the last few years.
‘Jago Grahak Jago’ has become the focal theme through which issues concerning the functioning of almost all Government Departments having a consumer interface can been addressed. To achieve this objective joint campaigns have been undertaken/are being undertaken with a number of Government Departments.
6. What is a revolving credit?
Revolving credit is a type of credit that does not have a fixed number of payments. Corporate revolving credit facilities are typically used to provide liquidity for a company's day-to-day operations.The credit cards are examples of revolving credit. They are renewed automatically until the notice of cancellation is receieved. The time of repayment is specified.
7. What is Gender Budgeting?
Gender budgeting is the process of conceiving, planning, approving, executing, monitoring, analyzing and auditing budgets in a gender-sensitive way. Gender Budgeting is actually an attempt to women upliftment without any sex discrimination while formulating the policies and making allocation for them.
Gender Budgeting is a process that entails incorporating a gender perspective at various stages- planning/ policy/ programme formulation, assessment of needs of target groups, allocation of resources, implementation, impact assessment, reprioritization of resources.
Gender Responsive Budget and Gender Mainstreaming are outcomes of Gender Budgeting.
8. What is Soft Currency?
Soft currency is opposite of hard currency and it indicates a type of currency whose value may depreciate rapidly or that is difficult to convert into other currencies. Soft currency can be in the form of paper, electronic or debt-based "IOUs" which have in the past been used in place of hard currency. This currency has limited convertibility into gold and other currencies.
9. What are factors of production?
The resources and the inputs which are required to produce a good or service is called factor of production. The basic categories are land labor and capital.
10. What is the principle of Diminishing returns?
This principle says that if one factor of production is fixed and constant additions of other factors are combined with this, the marginal productivity of variable factors will eventually decline. According to this relationship, in a production system with fixed and variable inputs (say factory size and labor), beyond some point, each additional unit of the variable input yields smaller and smaller increases in output. Conversely, producing one more unit of output costs more and more in variable inputs.
