Leander Paes: The oldest Grand Slam champion Age is just a number for Indian tennis great Leander Paes



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ICICI Bank launches 'Pockets' - India's first digital banking service - enabling users to instantly send money to any e-mail id, mobile number, friends on Facebook and bank account. 

  • Anyone, including those who are not customers of ICICI Bank, can easily download the e-wallet from Google Playstore, fund it from any bank account in the country and start transacting immediately.

  • Customers can also request for a physical card to use it at any retail outlet.

Indian Navy conducts HADR (Humanitarian Assistance and Disaster Relief) exercise at Lakshadweep

  • The large scale Disaster Relief drill involved setting up medical camps, provision of food, shelter from the elements, restoration of basic facilities and limited restoration work in the wake of major cyclone and related loss.

Mining Indaba 2015: a global event on mining, kicks off at Cape Town, South Africa

  • India has also sent team to market its mining sector to attract global investment, technology and expertize.

  • Eighteen mining Ministers from countries like South Africa, Namibia, Ghana, Angola, Sudan, Nigeria, Gabon, Eritrea, Kenya, Mali and others are participating into this event which is held every year in South Africa.

Amartya Sen, Nobel laureate Indian economist, is honoured with the inaugural Charleston-EFG John Maynard Keynes Prize for his contribution to society.

12.02.2015

'Rashtriya Khel Protsahan Puruskar Scheme' gets a new look

Sports Ministry has revised the Rashtriya Khel Protsahan Puruskar Scheme to boost corporate money into promotion of Sports in the country.

The program was introduced in 2009 to encourage and promote involvement of corporates, sports promotion boards etc, in the promotion and development of sports in the country.



In the revised scheme, Rashtriya Khel Protsahan Puruskar will be given in following four categories:

  • Identification and nurturing of budding/young talent

  • Encouragement of sports through Corporate Social Responsibility (CSR)

  • Employment of sportspersons and sports welfare measures

  • Sports for Development

Notable Changes

  • Companies can now dedicate their mandatory 2% funds under CSR to promotion of Sports in the country under the newly added category 'Encouragement of sports through Corporate Social Responsibility'.

  • For the same, 'Training to promote rural sports, nationally recognized sports, Paralympic sports and Olympic sports' have been included in the Schedule VII of the Companies Act 2013.

  • As for NGOs, a separate category 'Sports for Development' is included in the revised scheme to recognize the contributions of NGOs working in Sports field.

Global Environment Facility (GEF) agrees to take up pilot projects in four Indian cities for promoting 'green urban practices'. 

  • The four cities for the implementation are soon to be identified through consultations between GEF and Ministry of Urban Development.

  • GEF is a financial mechanism to support countries in efforts to achieve the goals of United Nations Conventions covering climate change, biodiversity, Ozone layer depletion, land degradation etc.

  • GEF is also working on an Integrated Program on Sustainable Cities to develop conceptual models on integrated urban design, planning and management for resilient and sustainable development.

US and other Western nations shut their embassies in Yemen amidst growing security concerns. 

  • The country, in a civil war since long, has finally succumbed to the Houthi rebels who now enjoy the control over the state.

Tribal Affairs Ministry is going to hold the first National Tribal Festival "VANAJ" from February 13-18, 2015. 

  • The festival is meant to conserve and promote the distinctive tribal cultures.

  • Such exhibitions alsp promotes diversity and national integration.

  • There will also be exhibition and sale of tribal products, medicines, paintings, art and handicrafts etc at the festival.

The Ambedkar National Merit Award 2014 given to 84 Students. 

  • The prizes are given to three SC/ST students scoring highest marks in the Secondary/Sr. Secondary examinations conducted by all the State Education Boards and Councils etc.

  • In case none of the first three eligible students are girls, the girl students scoring the highest marks are given special award.

Eminent journalist Vinod Mehta bags Yash Bhati Samman 2015

  • The Award, given by Uttar Pradesh government, was introduced by Mulayam Singh Yadav in 1994 to honour people for their excellence in literature, fine arts, folk and classical music and sports.

  • He is credited with launching a number of successful publications such as the Sunday Observer, Indian Post, The Independent, The Pioneer (Delhi edition) and Outlook.

13.02.2015
Danish photographer Mads Nissen wins World Press Photo of the year 2014 for his image depicting gay couple during an intimate moment in St Petersburg, Russia. 

  • The annual prize, into its 58th edition, carries a cash prize of 10,000 euros.

  • The photo also won first prize in the Contemporary Issues category.

  • Conservative Russia treats the LGBT people (lesbian, gay, bisexual or transgender) unfairly and this Sexual minorities often has to suffer legal and social discrimination, harassment, and even violent hate-crime attacks from religious and nationalistic groups.

West toils hard with Russia to reach another ceasefire in Ukraine; ensues fragile peace beginning February 15

  • The leaders of Russia, Ukraine, Germany and France reached the ceasefire after a marathon negotiation in Belarus.

  • The major takeaway of the peace deal includes weapon withdrawals and prisoner exchanges, but a lot of key issues remain unsettled.

  • Ukraine gets to regain the control of breakaway eastern regions and its border with Russia, While Russia reclaims the power to keep Ukraine from ever becoming part of NATO.

  • Sagging Russian economy due to Western sanctions has played a key role in getting Russia to agree to the peace agreement.

  • However, There's many a slip between cup and the lip here, as any untoward incident from either side can sabotage the breakthrough.

  • Thousands of people have died in almost a year of fighting in the region.

  • The peace accord is very similar to the ceasefire agreed last September, which came apart within few days.

National Legal Services Authority (Nalsa) to organize Lok Adalats through out the country Once in every Month to help clear the judiciary bottleneck. 

  • The series, to handle different subjects every month, will kickstart with clearing cheque bounce and other bank recovery matters on February 14.

  • The aim is to reduce pendency as well as prevent additional litigation flooding the courts, where settlements are possible.

  • These Lok Adalats will be held across the country in the Supreme Court, the High Courts, District Courts and the Taluk level Courts.

  • Once so disposed of by settlement, there will be no further appeal in these cases.

$500,000 prize for Indian American researcher

Gurpreet Singh, Indian American researcher at Kansas State University (KSU), bags $500,000 National Science Foundation CAREER award for his research on nanosheets.

He, assistant professor of mechanical and nuclear engineering there, received the award for his project, "Scalable liquid exfoliation processing of ultrathin two-dimensional metal dichalcogenides nanosheets for energy storage devices".



What this means?

  • He is looking to develop ultrathin metal sheets, to help produce better rechargeable batteries and supercapacitors.

  • The project may also yeild catalysts for photoelectrochemical hydrogen production.

  • The prize money will also help him fund educational activities and workshops for high school students and teachers.

About the Prize

  • The National Science Foundation's 'Faculty Early Career Development Program' is one of the foundation's most prestigious awards for supporting early career faculty.

  • Moreover

  • Faculty recognition and awards are an important part of Kansas State University’s plan to become a Top 50 public research university by 2025.

No more jams on 125 Toll Plazas in the country

Centre has decided to scrap 125 Toll Plazas in the country to ensure smooth and hassle free ride for the public.



Points to Remember

  • Its notable that the country lose about 2-3 per cent of its GDP due to unproductive traffic jams.

  • The selected 125 plazas are those where either the cost has been recovered or where the collection is no longer viable.

  • Passenger and non-commercial vehicles account for only 14-15 per cent of total revenue collected from tolls.

  • Government also plans to roll out e-tolling facility across the major Toll Plazas to reduce traffic jams.

  • The plan is also afoot to make all public-private partnership projects with under Rs 100 crore of investment toll-free.

14.02.2015
India to get $8 million fund from World Bank for Sustainable Livelihoods and Adaptation to Climate Change (SLACC) Project. 

  • The project aims to improve adaptive capacity of the rural poor engaged in farm-based livelihoods to cope with climate variability and change in Bihar and Madhya Pradesh.

  • It will also inculcate the best practices and lessons into the central National Rural Livelihoods Mission.

  • Climatic hazards affect the availability of natural resources, adversely affect the livelihoods of the poor by impacting production, affecting incomes and preventing building up of assets.

  • National Rural Livelihoods Mission is the implementing agency.

The villages adopted under the Saansad Adarsh Gram Yojana (SAGY) will now get rural roads under Pradhan Mantri Gram Sadak Yojana (PMGSY) on priority basis. 

  • To accomodate this, the Union government has approved amendments in the PMGSY guidelines.

  • These roads will be maintained by the respective State governments up to prescribed standards and even beyond the built in period of first five years.

  • As per the amended Guidelines, States will give priority to all roads leading to the Gram Panchayats identified under SAGY irrespective of Comprehensive New Connectivity Priority List (CNCPL) to include all eligible unconnected habitations in the selected Gram Panchayats.

  • In case of upgradation of roads, priority shall be given to the roads which have Pavement Condition Index (PCI) Value-I & II in the Gram Panchayats identified under SAGY.

Railway set up 8-member Committee, headed Mohd Jamshed, to review Traffic Growth in passenger and freight

  • It will identify factors and issues affecting growth of traffic (Freight & Passenger) and suggest a plan of action on Traffic Optimization and removing bottlenecks both in short term (during 2015 -16) and long term (during 2018-19).

  • The Committee will submit its report within a period of six weeks from the date of its constitution.

Inaugural renewable energy global investors meet & expo, Re-invest 2015 to kick off on February 15, at vigyan bhawan, New Delhi. 

  • Over 2500 delegates and exhibitors from 45 countries will participate in this event with intent to invest in the country in the renewable energy sector.

  • It also aims to evolve innovative financial models for funding and to ensure the partnership of states and the centre in harnessing renewable energy.

Centre brings in new reforms in Ship repair sector; registration of Ship Repair Units (SRUs) with Directoraate General (Shipping) no longer required. 

  • The Ministry of Shipping intends to promote ease of doing business in this sector with cutting unnecessary and outdated red tapes.

  • The concessions and facilities extended to Ship Repair Units include provision of bond facilities, duty free import of components, raw materials, consumables and capital goods; and exemption of Central Excise duty on locally available components and raw materials by the Department of Revenue.

  • Earlier, to avail these concessions, SRUs were required to be registered with DG (Shipping).

16.02.2015
Nagesh Kukunoor's 'Dhanak' - meaning rainbow - wins laurels at the 65th Berlin International Film Festival

  • It received two prizes - a Grand Prix (prize) for the being the Best Feature-length film and the Special Mention for the Best Feature Film by The Children's Jury for Generation Kplus.

Ashton Carter gets Senate nod as the new Defense Secretary of the US

  • He will succeed Chuck Hagel as the 25th chief of Pentagon.

  • The post is pretty much similar to the Defense Ministers around much of the world and gives the office-bearer power to control the mighty US Military.

Indian football captain 'Sunil Chhetri' wins Player of the Year award 2014 from All India Football Federation. 

  • Its his 4th award here after winning the same in 2007, 2011 and 2013.

  • He thus creates the national record for winning this honour the most number of times (4 times) leaving behind IM Vijayan who had 3.

  • In women's category, the prize went to striker Bala Devi.

  • Sandesh Jhingan bagged the Emerging Player of the Year 2014 award and Santosh Kumar won the Best Referee 2014 award.

China picks all-weather friend Pakistan to have its largest overseas embassy in the world. 

  • The communist giant, being as secretive as it is, has kept the details of the newly opened embassy in Islamabad behind the wraps.

  • China maintains large diplomatic missions abroad including Washington, New York and New Delhi. Its mission in New Delhi has over 300 personnel.

UN Security Council adopts a unanimous resolution on Yemen crisis; urge shiite Houthi rebels to cede power and release President Mansour Hadi and his Cabinet from captivity

  • The resolution - drafted by Britain and Jordan - call for a UN-brokered peaceful settlement of the power struggle in the poorest republic of the Arab peninsula.

  • The resolution, however, is not expected to make much impact on the rebels who are sitting pretty with control over the capital and much of the state.

Videocon discovers huge oil reserve in Brazil

Videocon-BPCL consortium discovers large crude oil reserve in Sergipe basin off Brazil's Northeast coast.

The result obtained in this well confirms the extension of the light oil reservoirs previously discovered by the 'Farfan' discovery well.

The large scale and volume and light oil discovery will enable one of the lowest cost producing giant oil fields in the world. 

The 3rd partner of the group is Brazilian state-owned company Petrobras which holds 60 per cent stake in the venture; thrice of what Videocon and BPCL (20% each) owns individually.



About the Oil reserve

  • The well 3-SES-186 was drilled 103 km from the city of Aracaju, Brazil, and 10 km from the discovery well in 2,467 meter of water.

  • The well will be drilled to 6,060 meters.

  • This accumulation is part of the exploratory project in the deepwater Sergipe-Alagoas basin.

  • In addition, the well found presence of a new light oil accumulation with a total thickness of 68 metres in shallower reservoirs.

Moreover

  • As per the latest official report, Brazil claims to have 15.6 billion barrels of proven oil reserves  - the second-largest in South America after Venezuela and 10th largest overall. 

  • More than 94% of Brazil's reserves are located offshore, and 80% of all reserves are found offshore near the state of Rio de Janeiro.

  • The new discovery will certainly raise the stake of this developing country in the worldwide oil production.

- See more at: http://www.erewise.com/current-affairs/videocon-discovers-huge-oil-reserve-in-brazil_art54df12bfc54dd.html#.VOLFpMl1CBM

17.02.2015
India gifts Sri Lanka a civil nuclear deal as a note of thanks to the visiting President Maithripala Sirisena for his pro-India stance. 

  • This is the first such deal for Sri Lanka with any country in the world.

  • The two countries have also signed three other pacts, on cooperation in agriculture, culture, and Sri Lanka's participation in the Nalanda University Project.

India and Indonesia jointly nominate 'Archives of Bandung Conference (1955)' for listing in UNESCO's "Memory of the World Register".

India-born Punit Renjen is appointed as the new CEO of US-based accounting firm Deloitte



  • This will make him the first ever Indian-origin person to head one of the Big-Four audit firms in the world.

  • The other 3 of the Big-Four are PwC, KPMG and EY.

  • Deloitte provides audit, tax, consulting, enterprise risk and financial advisory services with more than 200,000 professionals in over 150 countries.

Professor Srikanth Jagabathula wins $500,000 National Science Foundation (NSF) CAREER award for developing data-driven modelling and learning techniques to improve the accuracy of operational decision making. 

  • The prize money will help him further his research over the next five years.

  • He, an IIT Bombay alumnus, teaches at the New York University Stern School of Business.

  • The announcement has come just few days after another Indian researcher Gurpreet Singh received the same award for his research on nanosheets.

  • The National Science Foundation's 'Faculty Early Career Development Program' is one of the foundation's most prestigious awards for supporting early career faculty.

Balasubramaniam Venkataramani is appointed as the MD & CEO of Multi Commodity Exchange (MCX) Limited. 

  • The post was managed by the interim head PK Singhal since the resignation of last MD & CEO Manoj Vaish in May 2014.

10th biennial "Aero India Show" to take place at Air Force Station, Yelahanka, Bengaluru from 18 to 22 Feb 2015. 

  • The premier aerospace exhibition serves as a platform for India to bolster business opportunities in International aviation sector.

  • The theme of this year's show will be "Make in India".

  • 34 countries, including US and France, will be represeted by their defense manufacturing firms at the event.

RR Patil, former Maharashtra Home Minister and NCP leader, dies at 57.

18.02.2015

Anti-dumping duty imposed on imported Graphite Electrodes

21 hours, 51 minutes ago Comments (0)



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Government has imposed an anti-dumping duty on imports of cheap graphite electrodes to protect the domestic manufacturers.



These below-cost 'Graphite electrodes' - used in melting of steel - are killing the competition by selling them at a price much lower than even the cost of production.

The duty - ranging between $278.19 and $922.03 per tonne - will be in effect for 5 years.



Background

  • The move is in tune with the recommendations of the Directorate General of Anti-Dumping Duty (DGAD) who had earlier conducted investigation regarding the same (dumping charges) on the complaints of domestic manufacturers - HEG and Graphite India.

What is Anti-Dumping Duty?

  • It is the duty imposed by the government on imported products with prices less than their domestic counterparts.

  • This increases the cost of the imported items to a level competitive to the domestic industry.

  • The tool is employed by countries to give level-playing field to their domestic industry which would otherwise be priced out of the market.

  • Anti-Dumping Duty is imposed under the multilateral WTO regime and vary from product to product and from country to country.

The authority to impose Anti-dumping duty in India rest with Union Finance Ministry; who does it on the recommendation of Union Ministry of Commerce.

The 5th India-Myanmar Joint Trade Committee (JTC) meeting concludes in Nay Pyi Taw. 

  • Both neighbours decided to strengthen the trade relations especially in the field of promoting two-ways investment, infrastructure development particularly to promote border trade, connectivity, agriculture, energy, skill and entrepreneurial development, pharmaceutical and people-to-people contacts.

  • India offered assistance to develop infrastructure at the border trade points, upgrade trade training institutes in Yangon, and also provide training to Myanmar officials on WTO and international trade related issues besides supporting subsidized direct shipping links between India and Myanmar to promote bilateral trade.

  • A land custom station will be jointly set up the at the Zawkhatar in Mizoram. The next Joint Trade and Investment Forum in Chennai.

Infosys to acquire automation startup 'Panaya Technology' in a deal worth Rs 1200 crore

  • Panaya would help Infosys reduce risks, costs and time by inducing automation to several service lines through cloud computing.

  • Panaya's strength is in utilizing hard core math to solve problems such as upgrades, extensions, testing, etc.

  • Infosys - Indian software giant - is looking to renew and differentiate its offerings from being service based to software focussed.


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