Current Affairs Weekly Updates for week
Ending 24 FEB 2013
01. Australia clinched its ICC Womens World Cup Trophy after
defeating West Indies in Final
Updated on 18 FEB 2013
Australia clinched their sixth Women's World Cup title after they
comfortably defeated the West Indies by a huge margin of 114 runs in
the final held on 17 February 2013 at the Brabourne Stadium in Mumbai.
Needing 260 to win, the Caribbeans were bundled out for 145 runs
in 43.1 overs, miserably failing to recover from Elysse Perry's early
three-wicket burst. Batting first, Australia rode on Jessica Cameron's
quick-fire 75 and a half-century by Rachael Haynes to post a challenging
259 for seven.
Women's World Cup History
1. First World Cup was played in the year 1973 in England, the final
was played between England and Australia and England won the
match by 92 runs.
2. Second World Cup was played in India in the year 1978 India, the
final was played between England and Australia, Australia won the
match by 8 wickets.
3. Third World Cup was played in 1982 in New Zealand. England and
Australia were the team in the final match and Australia won by 3
wickets.
4. Fourth World Cup was played in Australia in the year 1988. The
final was played between Australia and England. Australia won it
by 3 wickets.
5. The sixth World Cup was played in England in the 1993. The final
was played between New Zealand and England, which was won by
England by 67 runs.
6. The seventh World Cup was played in 1997 in India, Australia and
New Zealand were the teams in the final. Australia won it by 5
wickets.
7. Eighth World Cup was played in New Zealand in the year 2000. The
final was played between, Australia and New Zealand. New
Zealand won it by 4 runs.
8. The Ninth World Cup was held in South Africa in the year 2005,
Australia and India were the two teams in final. Australia won by
98 runs.
9. The Tenth World Cup was played in Australia and the final was
played between England and New Zealand, which was won by
England by 4 wickets.
10. The Eleventh World Cup was held in India in 2013. West Indies
and Australia were the two teams in the final. Australia won the
match with 114 runs.
Captain of England Womens Cricket team, Charlotte Edwards
became the first women to pass 5000 runs in one-day international
after hitting 121 runs of 106 balls in the semi-final match against New
Zealand.
Womens Indian Team failed to make into the quarterfinals
and had never won any world cup trophy till date.
02. NTPL Signs Agreement with a Group of Banks for 1000-MW
Power Project
Updated on 19 FEB 2013
A group of various banks agreed to give loan of Rupees 937 crore for
1000-MW NTPL power project. NTPL power project is the joint venture of
Tamil Nadu Power Generation and Distribution Corporation as well as
Neyveli Lignite Corporation (NLC). The project will come up at Tuticorin.
NLC Director (Finance) as well as the Bank of India Deputy General
Manager (Mumbai) signed an agreement on 18 February 2013. The
estimated cost of the project would be 4909.54 crore Rupees having
debt-equity ratio of 70:30.
The group of various banks included Indian Bank, the Central Bank
of India as well as the Bank of India. In the meanwhile, it is important to
note that NTPL had tied up with another group of banks earlier. The
group was led by Bank of Baroda. NTPL had tied up with other group of
banks for the debt which amounted to Rupees 2500 crore.
As of now, 70% of the overall project is already completed. First
unit of the 500 MW would go on stream in December 2013. The second
unit, which would have almost similar capability, will start operating in
March 2014.
The power which would be produced from this project will be
shared among the states of Puducherry, Kerala, Karnataka and Tamil
Nadu. Necessary power purchase agreements, for this purpose, had
already been signed with Tangedco as well as respective State Electricity
Boards.
03. Ela Bhatt Conferred 2011 Indira Gandhi Prize for Peace,
Disarmament and Development Award
Updated on 19 FEB 2013
The President of India Pranab Mukherjee on 18 February 2013
conferred 2011 Indira Gandhi Prize for Peace, Disarmament and
Development Award to Ela Ramesh Bhatt, a renowned Women social
worker. The award was given away at Rashtrapati Bhavan, New Delhi.
Ela Bhatt received the award for life time achievements in women
empowerment, promotion of grassroot level entrepreneurship as well as
contribution towards promotion of equitable development and peace.She
has her organisation SEWA (Self-Employed Womens Association).
04. First Wildlife Skywalk of India to Come Up in Maenam
Wildlife Sanctuary, Sikkim Updated on 19 FEB 2013
The first wildlife skywalk of India will come up in Maenam wildlife
sanctuary, in Sikkim. The State Government of Sikkim proposed to
construct 22 km rope-way from Maenam sanctuary to skywalk to be built
on edge of Bhalleydhunga steep face.
This will also have rain shelter as well as public conveniences.
Maenam wildlife sanctuary in Sikkim is 65 km south from Gangtok, the
capital of the state. It is also a popular tourist destination.
The Ministry of Environment & Forests (MOEF) Government of India
has also approved the proposal of Sikkim government for the first wildlife
skywalk of India proposal which would cost Rupees 500 crore. This
skywalk would be like the one in Grand Canyon in North America which
attracts more than 300,000 tourists in a year despite resistance from
environmentalists.
05. India and the UAE agreed to take their Trade Relations to
another Level
Updated on 19 FEB 2013
India and the UAE agreed to improve their trade and investment
relations during the first meeting of India-UAE High Level Task Force on
Investment in Abu Dhabi on 18 February 2013. UAE decided to invest 2
billion dollars in Infrastructure sector projects in India and the two
countries decided to work for and support Strategic Oil Reserve in India.
The meeting was co-chaired by the Union Minister of Commerce,
Industry and Textiles, Anand Sharma and Sheikh Hamid Bin Zayed Al
Nahyan, Chairman of the Abu Dhabi Crown Prince Court.
As a part of the bilateral agreement, Five high level sub committees
would be set up to promote investment in infrastructure and energy,
trade and investment, manufacturing and technology, Information and
communications technology and aviation sectors.
India and UAE also decided to work together for third country
projects, including Africa aimed at collaborating in the infrastructure
sector and oil and gas exploration. The two countries also agreed to put
in place Bilateral Investment Promotion and Protection Agreement
(BIPA).
06. T. S. Vijayan, the Former LIC Chief appointed as Chairman of
IRDA
Updated on 22 FEB 2013
The government has appointed T S Vijayan, former head of Life
Insurance Corporation (LIC), as chairman of the Insurance Regulatory
and Development Authority (IRDA).
Harinarayan, who took charge in May 2008, a few months before
the collapse of Lehman Brothers and the biggest crash in Indian markets,
cracked down on mis-selling by making it unprofitable for insurers to let
policies lapse by capping charges. He also faced challenges on the non-
life side where under provisions for motor accident claims led to non-life
companies running huge liabilities.
http://timesofindia.indiatimes.com/topic/Lehman-Brothers
07. Kerala Government Raised Age Limit for Buying and Selling
Liquor from 18 to 21
Updated on 21 FEB 2013
The State Government of Kerala on 20 February 2013 approved
Kerala Abkari Act Amendment Ordinance 2013 that envisaged raising age
limit for buying or selling liquor from 18 years to 21 years.
The new policy was announced in 2012, according to which
Congress had committed to raise liquor buying and selling age from 18 to
21 years. This was aimed at bringing down the consumption of liquor in
Kerala.
Apart from this, the Kerala Abkari Act Amendment Ordinance 2013
would obligate showing statutory warnings for movies and television,
against the consumption of liquor.
08. CCI approve to set up North Karanpura Super Thermal
Power Plant in Jharkhand.
Updated on 21 FEB 2013
The Cabinet Committee on Investment (CCI) Government of India
on 20 February 2013 cleared the proposal of the Power Ministry to set up
the North Karanpura Super Thermal Power Plant (NKSTPP) (3 x 660 MW)
near Tandwa town in Chatra district of Jharkhand by the National
Thermal Power Corporation (NTPC). The Plant is expected to produce
electricity for a period of about 35 years.
The safeguards of the project was recommended by the Chaturvedi
Committee were accepted by the Group of Ministers that was chaired by
the Union Finance Ministe.
09 Worlds First Mercury Treaty adopted by 140 Countries at
Geneva
Updated on 20 FEB 2013
Delegations from some 140 countries have agreed to adopt a
ground-breaking treaty limiting the use of health-hazardous mercury in
Geneva.
The world's first legally binding treaty on mercury, reached after a
week of thorny talks, will aim to reduce global emission levels of the toxic
heavy metal also known as quicksilver, which poses risks to human
health and the environment.
Countries will be asked to sign the treaty next October in
Minamata, Japan, in honour of the town's inhabitants who for decades
have suffered the consequences of serious mercury contamination.
The adoption of the mercury treaty shows the vitality of
international environmental politics and the will of states to together find
solutions to world problems, head of the Swiss delegation to the talks,
Franz Perrez, said in the statement.
Mercury is found in products ranging from electrical switches to
thermometers to light-bulbs, to amalgam dental fillings and even facial
creams, and large amounts of the heavy metal are released from small-
scale gold mining, coal-burning power plants, metal smelters and cement
production.
Serious mercury poisoning affects the body's immune system and
can lead to problems including psychological disorders, loss of teeth and
problems with the digestive, cardiovascular and respiratory tracts.
It also affects development of the brain and nervous system and poses
the greatest risk to foetuses and infants.
The treaty will aim at:
* Reduction of global emission levels of the toxic heavy metal or the
quick silver
* Reduce the production and the use of mercury in industrial
processes and product production
* To cut mercury pollution from utility plants, mining, a host of
products and industrial processes, and set enforceable limits as well
as to encourage alternatives where mercury in not used or
released.
10. India and Sri Lanka Signed Agreements On Combating
Terrorism and Avoiding Double-Taxation
Updated on 20 FEB 2013
India and Sri Lanka on 19 February 2013 signed two separate
agreements on combating international terrorism and avoidance of
double taxation, eyeing elevation of robust bilateral ties to building of a
special economic partnership.
The two key accords were signed after the 8th India-Sri Lanka Joint
Commission meeting held in New Delhi discussed enhanced cooperation
in a range of areas including civil nuclear energy.
At the meeting, the Indian side was led by External Affairs Minister
Salman Khurshid while the Lankans were led by his counterpart G.L.
Peiris.
The two sides also discussed the emotive issue of fishermen and
rehabilitation process of Tamils in Sri Lanka besides the 13th Amendment
of the Lankan constitution that gives autonomy to provinces.
Issue of the fishermen as well as rehabilitation process of the
Tamils in Sri Lanka was also discussed during the meeting.
Apart from this, 13th Amendment of the Lankan constitution which
provides autonomy to the provinces was also discussed.
It is important to note that India and Sri Lanka are the largest
trade partners of each other in South Asia.
It was also agreed, after the meeting, that a dialogue between the
Commerce Secretary of India and Secretary of the Ministry of Finance
and Economic Development of Sri Lanka would be initiated to progress
the framework for special economic partnership between these two
nations.
11. Viswanathan Anand won Grenke Chess Classic Trophy
Updated on 18 FEB 2013
Viswanathan Anand, the World Champion in Chess from India won
the Grenke Chess Classic trophy of 2013 after defeating Arkadij Naiditsch
from Germany on 17 February 2013. To secure his win in the Grenke
Chess Classic, Anand also defeated Fabiano Caruana from Italy. This was
his first title of the year.
The 43 years old Anand, managed to take a 49 move win against
Arkadij with his black pieces to claim the title for his all-play-all
tournament title in five years. Anand last won a title in March 2008 at
Linares, when he topped the field with 8.5 points in the eight player field.
In January 2013, Anand finished at third position in the Tata Steel
at Wijk aan Zee in although he lost the first round to Wang Hao from
China.
12. Hari Shankar Singhania, the leading industrialist died at 79
Updated on 24 FEB 2013
Hari Shankar Singhania, one of India's most distinguished
industrialists, passed away in his sleep at his New Delhi residence late
night on 22 February 2013 at the age of 79 years.
Singhania was president of JK Organization, a diversified group of
industries, and had been involved with the group for over six decades. A
past president of Ficci (1979-80), Singhania was the winner of many
awards and honours.
In 2003, he was awarded Padma Bhushan, India's third highest
civilian honour. He led various industry chambers and councils in India
and was only the second Indian to serve as president of International
Chamber of Commerce, Paris, during 1993-94.
Born in Kanpur on June 20, 1933, Singhania joined the group in
1951 after completing his BSc. He was known for his entrepreneurial
capabilities and setting up various pioneering ventures in India.
In 2005, Singhania was awarded one of the highest Swedish
awards Royal Order of the Polar Star by the king of Sweden, the
ceremonial head of state of that country, for his contribution to the
development of Indo-Swedish business relations.
Besides, he also received numerous awards and recognitions,
including the '2008 Paper Industry International Hall of Fame Award' by
the Paper Industry International Hall of Fame, Inc, USA, and 'Lifetime
Achievement Award for Asia Pacific Entrepreneurship' from Enterprise
Asia in 2010.
JK Organization is a more than 100 years old group and has a wide range
of manufacturing activities such as automotive tyres and tubes, paper
and board, cement, oil seals, power transmission equipment, woolen
textiles, readymade suits and apparels, food and dairy products, hybrid
seeds, steel engineering files and cosmetics.
http://timesofindia.indiatimes.com/topic/Ficci
13. Ratan Tata Awarded the Life Time Achievement Award 2012
by Ernst & Young
Updated on 22 FEB 2013
Leading accounting and consultancy firm E&Y India has awarded
the Tata Group patriarch Ratan Tata, the Chairman Emeritus of the USD
100-billion conglomerate, with the Entrepreneur of the Year Lifetime
Achievement Award.
RatanTata received the award from Corporate Affairs Minister
Sachin Pilot at a function held in Mumbai on 21 February 2013. Tata had
won the E&Y Entrepreneur of the Year Award in 2003 as well.
Adi Godrej of the Godrej Group has won the Entrepreneur of the
Year for 2012, who will represent India at the E&Y World Entrepreneur of
the year award in Monte Carlo, Monaco in June.
The other awardees are Dr Naresh Trehan of Medanta-The Medicity
for start-ups, Dhiraj C Rajaram of MuSigma Business Solutions for
services, Francisco D'Souza of Cognizant for manager category and Devi
Prasad Shetty of the Narayana Hrudalaya in the for life sciences and
healthcare segment.
TT Jagannathan of TTK Group in the consumer products category,
Onkar S Kanwar of Apollo Tyres for manufacturing, and Cyrus S
Poonawalla of Serum Institute of India for business transformation were
the other awardees.
The Ernst & Young Entrepreneur of the Year Award, which is into
the 14th edition, is recognised as one of the world's prestigious business
awards for entrepreneurs.
http://expressindia.indianexpress.com/latest-news/Ernst-Young-honours-Ratan-Tata-with-lifetime-achievement-award/1078259/http://expressindia.indianexpress.com/latest-news/Ernst-Young-honours-Ratan-Tata-with-lifetime-achievement-award/1078259/http://expressindia.indianexpress.com/latest-news/Ernst-Young-honours-Ratan-Tata-with-lifetime-achievement-award/1078259/
14. NTPC Signed 250 Million US Dollars Loan Agreement with
Banks
Updated on 22 FEB 2013
NTPC (National Thermal Power Corporation) tied up a term loan
facility of 250 million US dollars with the State Bank of India, New York
Branch as well as Singapore Branch of Mizuho Corporate Bank Limited.
The agreement for the loan was signed in New York. The loan will
empower NTPC for making use of the proceeds of loan towards capital
expenditure for procurement of goods and services for new as well as
ongoing projects. It will also help NTPC in modernization as well as
renovation of stations of this corporation.
The loan signed by NTPC will carry a floating rate of interest
associated to LIBOR. It also has door to door maturity of 7 years.
With execution of this term loan facility, NTPC raised a total of 750
million US Dollars in 2012-2013 fiscal year, which is the maximum
amount allowed under the Automatic Route of the ECB guidelines issued
by the Reserve Bank of India.
15. Bharat Heavy Plate & Vessels Ltd. (BHPV) Merged With BHEL
Updated on 22 FEB 2013
The Union Cabinet of India approved merger of Bharat Heavy Plate
& Vessels Ltd. (BHPV) Vishakhapatnam with Bharat Heavy Electricals
Limited (BHEL) on 21 February 2013. After the merger, BHVP will be a
unit of BHEL.
Post-merger, BHVP will be able to participate in the tenders as well
as obtain the orders.
Bharat Heavy Plate & Vessels Ltd. (BHPV): Bharat Heavy Plate &
Vessels Ltd. (BHPV) is the engineering and heavy fabrication company
which was established back in 1966 in Andhra Pradesh. The company had
suffered immense loss because of various reasons.
Bharat Heavy Electricals Limited (BHEL): Bharat Heavy Electricals
Limited (BHEL) acquired BHPV in 2008 as 100% subsidiary. However,
because BHVP was a separate company, therefore it was not able to
derive complete benefits.
16. RBI announced Guidelines for Licensing of New Banks in
Private Sector
Updated on 23 FEB 2013
The Reserve Bank of India on 22 February 2013 released the
Guidelines for Licensing of New Banks in the Private Sector. The
guidelines issued by the Apex Bank have opened gates for private players
as well as the finance firms to enter into the strictly regulated banking
sector of India.
Key Features of the issued Guidelines:
(i) Eligible Promoters: Entities / groups in the private sector, entities
in public sector and Non-Banking Financial Companies (NBFCs) shall be
eligible to set up a bank through a wholly-owned Non-Operative Financial
Holding Company (NOFHC).
(ii) Fit and Proper criteria: Entities / groups should have a past
record of sound credentials and integrity, be financially sound with a
successful track record of 10 years. For this purpose, RBI may seek
feedback from other regulators and enforcement and investigative
agencies.
(iii) Corporate structure of the NOFHC: The NOFHC shall be wholly
owned by the Promoter / Promoter Group. The NOFHC shall hold the
bank as well as all the other financial services entities of the group.
(iv) Minimum voting equity capital requirements for banks and
shareholding by NOFHC: The initial minimum paid-up voting equity
capital for a bank shall be `5 billion. The NOFHC shall initially hold a
minimum of 40 per cent of the paid-up voting equity capital of the bank
which shall be locked in for a period of five years and which shall be
brought down to 15 per cent within 12 years. The bank shall get its
shares listed on the stock exchanges within three years of the
commencement of business by the bank.
(v) Regulatory framework: The bank will be governed by the
provisions of the relevant Acts, relevant Statutes and the Directives,
Prudential regulations and other Guidelines/Instructions issued by RBI
and other regulators. The NOFHC shall be registered as a non-banking
finance company (NBFC) with the RBI and will be governed by a separate
set of directions issued by RBI.
(vi) Foreign shareholding in the bank: The aggregate non-resident
shareholding in the new bank shall not exceed 49% for the first 5 years
after which it will be as per the extant policy.
(vii) Corporate governance of NOFHC: At least 50% of the Directors
of the NOFHC should be independent directors. The corporate structure
should not impede effective supervision of the bank and the NOFHC on a
consolidated basis by RBI.
(viii) Prudential norms for the NOFHC: The prudential norms will be
applied to NOFHC both on stand-alone as well as on a consolidated basis
and the norms would be on similar lines as that of the bank.
(ix) Exposure norms: The NOFHC and the bank shall not have any
exposure to the Promoter Group. The bank shall not invest in the equity /
debt capital instruments of any financial entities held by the NOFHC.
(x) Business Plan for the bank: The business plan should be realistic
and viable and should address how the bank proposes to achieve
financial inclusion.
(xi) Other conditions for the bank: The Board of the bank should
have a majority of independent Directors.
The bank shall open at least 25% of its branches in unbanked rural
centres (population up to 9,999 as per the latest census)
The bank shall comply with the priority sector lending targets and sub-
targets as applicable to the existing domestic banks.
Banks promoted by groups having 40 per cent or more assets/income
from non-financial business will require RBIs prior approval for raising
paid-up voting equity capital beyond `10 billion for every block of `5
billion.
Any non-compliance of terms and conditions will attract penal measures
including cancellation of licence of the bank.
(xii) Additional conditions for NBFCs promoting / converting into a
bank: Existing NBFCs, if considered eligible, may be permitted to
promote a new bank or convert themselves into banks.
The guidelines for the Licensing of New Banks in the Private Sector
were finalized after amending the Banking Regulation Act, 1949 in
December 2012.
17. Assam becomes First Indian State to produce over 500
million kg Tea for 2 consecutiveYears
Updated on 24 FEB 2013
With a production of 589 million Kgs in 2011 and 588 million Kgs
2012 which is 53% of the countrys total tea production, Assam has
become the first state in India to produce over 500 million kilogram tea
for two years in a row.
The North East Tea Association, a premium body of the tea planters
held that over Rs 7500s crore turn over was recorded in Assam tea
sector last year.
Around 7 lakh workers are engaged in the tea sector of which 50%
are women.
18. Sania Mirza, Bethanie-Mattek Sands win Dubai title 2013
Updated on 24 FEB 2013
India's Sania Mirza and her American partner Bethanie-Mattek
Sands won the Dubai Tennis Championship 2013 on 23 February 2013.
The Indo-American duo defeated the second seeded Russian-Slovenian
combination of Nadia Petrova and Katarina Srebotnik, 6-4, 2-6, 10-7.
Sania bagged her second Doubles title of the season.