Finance/Business/Economy News
1. Union Bank to open branch in Sydney
The Union Bank of India (UBI) will open its branch in Sydney by the end of this month, a top official has said.
Presently, the bank has a representative office in Sydney.
UBI recently opened a branch at Antwerp in Belgium. Apart from that, the bank has branches in Dubai, Hong Kong and London and representative offices in Beijing, Shanghai (both in China) and Abu Dhabi, he said.
Tiwari was speaking on the sidelines of a function to inaugurate a cash depositing kiosk here today.
2. PM Narendra Modi launched Sukanya Samridhi Yojana under BBBP campaign
Sukanya Samridhi Account will fetch an interest rate of 9.1 percent and provide income tax rebate.
Sukanya Samridhi Account can be opened at any time from the birth of a girl child till she attains the age of 10 years with a minimum deposit of 1000 rupees.
A maximum of 1.5 lakh rupees can be deposited during the financial year. The account can be opened in any post office or authorised branches of commercial banks.
The account will remain operative for 21 years from the date of opening of the account or marriage of the girl child after attaining 18 years of age.
To meet the requirement of higher education expenses, partial withdrawal of 50 percent of the balance amount will be allowed after the girl child has attended 18 years of age.
3. SBI signed a loan agreement for 100 million Euro with European Investment Bank
State Bank of India (SBI) on 23 January 2015 signed a loan agreement for 100 million Euro with the European Investment Bank (EIB).
EIB is a long-term lending institution of the European Union. The agreement was signed on 19 January 2015. The agreement was facilitated by SBI Capital Markets.
The loan will be utilised to support the private sector’s development—in particular small and medium-sized enterprises, social and economic infrastructure as well as climate change mitigation and adaptation in India. The EIB funds will be earmarked for financing projects across a broad range of sectors, including manufacturing, as well as wholesale and retail trade and services.
This is third tranche of a total sanction of 200 million Euro by EIB. A first tranche of 55 million Euro and second tranche of 45 million Euro were signed in June 2014 and November 2014 respectively.
4. RBI simplified procedure for External Commercial Borrowings Policy
The Reserve Bank of India (RBI) on 23 January 2015 simplified procedure for External Commercial Borrowings (ECB) Policy.
The directions have been issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999. Changes are effected during the tenure of the ECB.
The directions are as follows
Under the simplified procedure, the RBI has delegated powers to the banks to make changes/modifications in the draw-down and repayment schedules of the ECB raised both under the automatic and approval routes. FCCBs will, however, not be covered within these provisions.
It has simplified the existing procedure for rescheduling/restructuring of external commercial borrowings (ECBs). It also delegated more powers to banks to deal with cases related to change in draw-down and repayment schedules.
The above mentioned changes/modifications could either be associated with change/no change in the average maturity period and/or with changes (increase/decrease) in the all-in-cost.
Banks can allow reduction in the amount of ECB (irrespective of the number of occasions) along with any changes in draw-down and repayment schedules, average maturity period and all-in-cost. They can also permit increase in all-in-cost of ECB, irrespective of the number of occasions.
Banks can permit changes/ modifications in the draw-down and repayment schedules of the ECB provided the revised average maturity period and/or all-in-cost is/are in conformity with the applicable ceilings/guidelines.
News Related to India and Indian Polity
5. Iconic cartoonist R K Laxman passes away
Eminent cartoonist and creator of the ‘Common Man’, R.K. Laxman, passed away at the Deenanath Mangeshkar hospital in Pune on Monday evening. He was 93.
He is best known for his creation The Common Man, for his daily cartoon strip, "You Said It" in The Times of India, which started in 1951.
Awards received by him:
Padma Vibhushan – Govt. of India, 2005
Ramon Magsaysay Award for Journalism, Literature and Creative Communication Arts – 1984
Books by him:
50 Years of Independence through the eyes of R.K.Laxman
The Best of Laxman series
Hotel Riviera
The Messenger
Servants of India
The Tunnel of Time (autobiography)
His autobiography Lakshmanrekha is published in Marathi.
The Reel World [cartoons]published by Marwah Studios
Brushing Up The Years- A Cartoonist's History of India- 1947 to the Present- Penguin Books
6. All-women contingent marches down Rajpath for the first time on R-Day
For the first time in the history of India’s Republic Day, women empowerment in the armed forces was showcased as an all-women contingent from the three forces — Army, Air Force and Navy — marched down the majestic Rajpath.
While women officers have been participating in previous Republic Day parades, it was for the first time that an all-women contingent of the armed forces participated.
While the Army contingent was led by Capt Divya Ajith, the Navy was led by Lt Commander Sandhya Chauhan. The Air Force contingent was led by Squadron Leader Sneha Shekhawat.
The contingents had 148 personnel each drawn from the Army, Air Force and the Navy.
7. Obama joins select group of world leaders who attended Republic Day
U.S. President Barack Obama today joined a select group of world leaders who have attended India’s Republic Day celebrations in the last over six decades.
Obama, who was the Chief Guest at the 66th Republic Day celebrations, watched the impressive parade at the majestic Rajpath along with his wife Michelle.
He also became the first American President to grace the celebration. Bill Clinton was the first U.S. President to be invited but he did not attend.
Last year, Japanese Prime Minister Shinzo Abe was the Chief Guest at the celebrations while Bhutan king Jigme Khesar Namgyel Wangchuck graced the occasion in 2013.
The heads of state and government who have attended the Republic Day celebrations include Nicolas Sarkozy, Vladimir Putin, Nelson Mandela, John Major, Mohammed Khatami and Jacques Chirac among others.
The then British Prime Minister Major had attended the celebrations in 1993, Mandela participated as South African President in 1995 while South Korean President President Lee Myung Bak witnessed the parade in 2010.
In 2008, Sarkozy participated in the celebrations as French President while another French President Chirac graced the occasion in 1998.
8. Five FIRSTS is Republic Day 2015
All-women contingents of the Army, Navy and Air Force march through Rajpath for the first time
The first time that a U.S. President is Chief Guest for the parade
The President and the chief guest arrived in different motorcades, a departure from the standard practice of arriving together
CRPF shows off Commando Battalion for Resolute Action (CoBRA) used in anti-Naxal operations
The long-range advanced MiG-29K fighter jet on display
9. Ashok Chakra for Mukund Varadarajan
Naik Neeraj Kumar Singh of the 57 Battalion of the Rashtriya Rifles will be posthumously awarded the Ashok Chakra, the country’s highest peacetime military decoration.
The Army man, while leading a search operation at Kupwara in Jammu & Kashmir on August 24, 2014, came under heavy fire from terrorists. He rescued an injured Army person and shot dead one of the terrorists.
President Pranab Mukherjee will also posthumously award the Ashok Chakra to Major Mukund Varadarajan of the 44th Battalion of the Rashtriya Rifles, which was announced on Independence Day last year for his show of exceptional courage while leading an anti-terror operation in Jammu and Kashmir.
On the eve of the 66th Republic Day celebrations, the President has approved 374 awards of gallantry, including three Kirti Chakras and 12 Shaurya Chakras, and other defence decorations to the armed forces personnel and others.
10. L K Advani gets Padma Vibhushan award
The Government announced the list of Padma awardees on Sunday with L K Advani being conferred with the Padma Vibhushan.
The list of nine Padma Vibhushan awardees include Amitabh Bachchan, Prakash Singh Badal and Dilip Kumar.
The 20 awardees for Padma Bhushan include Harish Salve, Bill Gates and Melinda Gates while 75 Padma Shri awards have also been conferred to civilians for distinguished service in any field.
A total of 17 foreigners and NRIs are included in the list of awardees and four posthumous awards have also been conferred.
11. National Girl Child Day observed on 24 January
National Girl Child Day is observed on 24 January 2015 across the nation.
This celebration was started to offer more supports and new opportunities to the girls in the country. It is celebrated to increase the awareness among people about all the inequalities faced by the girl child in the society. This day is being observed every year on 24 January since 2008.
Ministry of Women and Child Development has been taking a multi pronged approach to address and reverse the trend of declining child sex ratio in the country. The objective of all these initiatives is to work towards ensuring that girls are born, loved and nurtured and grow up to become empowered citizens of this country with equal rights and opportunities.
Government of India has started National Girl Child Day as a national girl’s development mission. The mission raises the awareness among people all over the country about the importance of girls’ promotion. It helps in enhancing girls’ meaningful contribution in decision making processes by active support of the parents and the community members.
12. Prime Minister presented National Bravery Awards 2014 to 24 awardees
Prime Minister Narendra Modi on 24 January 2015 presented National Bravery Awards 2014 to 24 awardees.
8 girls and 16 boys were conferred with National Bravery Awards. Four of them have been awarded posthumously. The awardees receive a medal, certificate and cash incentive. Also, they will participate in the Republic Day parade.
In addition, Indian Council for Child Welfare (ICCW) provides financial assistance under its Indira Gandhi Scholarship Scheme to those undertaking professional courses such as engineering and medicine. For the others, this assistance is provided till they complete their graduation. The Government of India has reserved some seats for the awardees in medical and engineering colleges and polytechnics.
The selection was made by a high powered committee comprising representatives of various Ministries/Departments, non-governmental organisations as well as Office Bearers of ICCW.
The lists of awardees are
Sanjay Chopra Award
Devesh Kumar
Bapu Gaidhani Award
Monika
Rumoh Meto
Riya Chaudhary
Geeta Chopra Award
Gunjan Sharma
Bharat Award
Resham Fatma
13. Goa to host Indo-Russian Musical Festival ZimaFest
Goa will host Indo-Russian Musical Festival ZimaFest from 24 January 2015 to 25 January 2015 at Candolim beach. The musical festival will witness a confluence of Russian and Indian music.
The festival will host various world's best DJs and bands like Alisa, Dolphin, Parikrama and DJ sets by Karsh Kale, Mara, Kohra, Janux, XP Voodoo, Christ Burstein FT, Victoria Bourke, Bhavishyavani Future Soundz FT. M. Mat.
The festival will be a soulful confluence of music, energy, food, sea, shells and everything and will serve music lovers a quality time with friends and family.
The festival will present a dichotomous mix of a classic all-round music festival that has Live and DJ performances at the same time starting a new trend in the Indian festival environment.
14. Telugu comedian Mailavarapu Surya Narayana passed away
Tollywood Actor and comedian Mailavarapu Surya Narayana passed away on 23 January 2015 following multi-organ failure. He was 63.
His other prominent films include Badshah in 2013, Cameraman Gangatho Rambabu in 2012, Julayi in 2012 and Dookudu in 2011. His latest film is Manam (2014).
Narayana won five Nandi awards presented by Andhra Pradesh Government as Best male comedian for the flims Maa Nanna ki Pelli, Ramskkanodu, Sardukupodam Randi, Sivamani and Dookudu.
15. Kerala to get first International Institute of Music
Kerala Culture Minister K C Joseph on 22 January 2015 announced setting up of the International Institute of Music in Kerala. It will be the first international institute in India that is dedicated to music.
A Trust headed by Sarod Maestro Ustad Amjad Ali Khan has been entrusted with the responsibility to set up the Institute. The government will provide only land and all other infrastructure facilities will be built by a trust managed by Khan's family.
Moreover, Kerala Government also identified the land for setting up the school in Thiruvananthapuram or Kochi or Kozhikode. Now, Ustad Amjad Ali Khan will decide one location out of these.
The school will be under the Kerala Sangeetha Nataka Akademi but would have a separate body to govern it. All kinds of music, musical instruments and musical systems will be taught at the Institute.
International News
16. Colombia’s Paulina Vega wins Miss Universe title
Colombia’s Paulina Vega was crowned Miss Universe today, beating out contenders from the United States, Ukraine, Jamaica and The Netherlands at the world’s top beauty pageant in Florida.
The 22-year-old model and business student triumphed over 87 other women from around the world, and is only the second beauty queen from Colombia to take home the prize.
The last time Colombia won the crown was in 1956 when Luz Marina Zuluaga took home the title.
Vega, wearing a long silver sequined gown, was beaming and tearful as she accepted her sash and crown from reigning Miss Universe, Venezuelan Gabriela Isler.
She edged out first runner-up, Nia Sanchez from the United States, hugging her as her win was announced.
Noyonita Lodh represented India in the event.
17. PM greets Australians on ‘Australia Day’
Recalling the “warmth” of the people during his recent visit there, Prime Minister Narendra Modi today greeted the people of Australia on ‘Australia Day’ which coincides with India’s Republic Day.
“Best wishes to people of Australia on Australia Day! Will always cherish the warmth of the people of Australia during my visit last November,” the Prime Minister said in his message.
Australia Day is the official national day of Australia.
Celebrated annually on January 26, it marks the anniversary of the 1788 arrival of the first fleet of British Ships at Port Jackson, New South Wales, and raising of the Flag of Great Britain at that site by Governor Arthur Phillip.
18. Dubai’s Maze Tower listed in Guinness World Records
Dubai’s Maze Tower was on 21 January 2015 listed in the Guinness World Record for being the world’s largest vertical maze. The maze tower was built by Al Rostamani Group of Dubai.
The 55-storey tall Maze Tower is located near the Sheikh Zayed Road in the Dubai Financial District.
19. Saudi Arabia King Abdullah bin Abdulaziz died
Saudi Arabia King Abdullah bin Abdulaziz passed away on 23 January 2015 following a brief illness. He was 90.
After the death of Abdullah bin Abdulaziz, his brother and Crown Prince Salman bin Abdulaziz Al Saud was named as the new king. The new crown prince is Muqrin bin Abdulaziz Al Saud. Both Salman and Muqrin are younger brothers of Abdullah.
Abdullah ascended to the throne as King in 2005. Abdullah’s biggest priority was to confront Iran, the Shiite powerhouse across the Gulf.
One of his most ambitious projects was a Western-style university that bears his name, the King Abdullah University of Science and Technology which was opened in 2009.
20. UN Secretary–General appointed Saraswathy Menon in peace-building panel
United Nation (UN) Secretary-General Ban Ki-moon on 24 January 2015 appointed Indian sociologist Saraswathi Menon in peace-building panel. This panel will review peace building activities.
The others on the seven-member panel, formally known as advisory group on the review of the peace-building architecture, include a retired Pakistani major general, Anis Bajwa and Charles Petrie of France, who headed an internal review panel on UN actions in Sri Lanka.
The appointment was made in accordance with the Terms of Reference endorsed by the General Assembly and the Security Council.
On 15 December 2014, the Presidents of the General Assembly and the Security Council asked the Secretary-General to nominate up to seven experts to form an advisory group on the review of the peacebuilding architecture.
The advisory group will undertake country studies in Burundi, Central African Republic, Sierra Leone, South Sudan, and Timor-Leste and will conduct a policy and institutional review of the peace-building architecture. It would also develop findings and recommendations based on this work.
21. Former Thailand Premier Yingluck Shinawatra impeached
Former Thailand Premier Yingluck Shinawatra was impeached on 23 January 2015 by an army-backed parliament. The impeachment was followed by the ban of the Yingluck Shinawatra from politics for five years.
Yingluck is the first Prime Minister to be impeached by parliament in Thailand’s history. The impeachment was a result of an allegation for failing to stop corruption in rice-pledging scheme.
The motion for impeachment was started in National Legislative Assembly. 190 of the 219 members present for the secret ballot voted in favor of impeaching Yingluck Shinawatra. 18 members voted against the impeachment, 8 abstained, and 3 votes were spoilt.
Yingluck was accused of dereliction of duty in her government’s rice-pledging scheme, which Thailand’s national anti-graft agency said cost the country 500 billion baht in damages due to mismanagement and corruption.
Sports News
22. Milos Raonic first Candaian Man to reach the Australian Open Quarter Finals
Milos Raonic became the first Canadian man in the Open Era to reach the Australian Open quarter-finals as he edged Feliciano Lopez 6-4, 4-6, 6-3, 6-7(7), 6-3 in Melbourne on Monday.
The Toronto native is the first Canadian to reach the last eight in Melbourne since Michael Belkin in 1968.
He is through to his third Grand Slam quarter-final, having made his breakthrough at Roland Garros last year and going on to reach his first semi-final a month later at Wimbledon.
Raonic is also the second Canadian man in history to reach three major quarter-finals, following in the footsteps of Robert Powell at Wimbledon in 1908, 1910 and 1912.
The 24-year-old Raonic will face either World No.1 and four-time champion Novak Djokovic or Gilles Muller for a place in the semi-finals.