Current Affairs - December 26, 2013

Current Affairs

December 26, 2013

International Affairs

1. Prime Minister Nawaz Sharif Pakistan's richest parliamentarian

i. The fortune of the elected representatives in Pakistan range from billions of rupees to just a few lakhs.  

ii. Several legislators are industrialists owning sugar and textile mills, landlords and businessmen.

iii. Sharif, as per the declarations, owns agriculture land worth Rs 1.43 billion, has made investments of over Rs 13 million – he has shares in six different mills – and has Rs 126 million in seven bank accounts.

iv. He also owns a Toyota Land Cruiser 2010 as well as the 1973 and 1991 models of Mercedes Benz. The premier also owns a 1991 model tractor.

2. China celebrated the 120th anniversary of Mao Zedong's birth Thursday, with top leaders paying a ceremonial visit to Mao's mausoleum and praising the achievements of the man who founded the People's Republic of China.

3. Turkish Prime Minister Tayyip Erdogan reshuffled his cabinet after three members quit over a corruption scandal that has posed an unprecedented challenge to his 11-year rule.

4. Israel likely will announce new plans for construction in Jewish settlements next week, a move that is likely to trigger an international uproar and threaten peace talks with the Palestinians.

5. Thailand's embattled government today rejected the Election Commission's plea to postpone the February 2 snap polls after fresh street violence left a policeman dead and nearly 100 others injured.

National Affairs

6. Narendra Modi gets a clean chit in Gujarat riots case

i. In a big relief to BJP's prime ministerial candidate Narendra Modi, an Ahmedabad court on Thursday rejected a petition filed by Zakia Jafri against the closure report of Special Investigation Team (SIT) which gave a clean chit to the Gujarat Chief Minister in connection with the 2002 post-Godhra riots case.

ii. Magistrate BJ Ganatra in his one line order said the court accepts the SIT report in the Gulberg case. Importantly, the magistrate said that Jafri can approach a higher court.

iii. Zakia Jafri is the wife of former Congress MP Ehsan Jafri, who was among 69 people killed in the Gulberg Society massacre in Ahmedabad on February 28, 2002.

iv. In her petition, Jafri had contended that Gulberg massacre was cold-blooded conspiracy by Modi and others to facilitate state-wide communal violence. She also claimed her husband made frantic calls to the police and even to Narendra Modi, who refused to send help.

v. Ramachandran in his report submitted to the Supreme Court said that, prima facie, Narendra Modi can be booked under sections that relate to “promoting enmity between different groups on grounds of religion and acts prejudicial to (the) maintenance of harmony”.

vi. Over a thousand people were killed in 2002 Gujarat riots.

7. 14th death anniversary of 9th President of India Dr. Shankar Dayal Sharma observed today.

8. Amid demands by jurists and BJP, government on Thursday gave the go ahead to grant constitutional status to a proposed commission for appointment and transfer of judges to the higher judiciary to ensure that its composition cannot be altered through an ordinary legislation.

9. The cabinet committee on economic affairs (CCEA) has approved central sector scheme - national scheme of welfare of fishermen during the 12th Plan.

10. Concerned over illicit use of drug among youths, Rajasthan government is going to run a special drive across the state to curb the menace.

11. Punjab govt starts pension scheme for construction workers

i. The Punjab govt launched a pension scheme for the registered construction workers of the state under which those aged 60 and above will be paid up to Rs 10,000 annually.

ii. The construction workers registered with the Punjab Building and Other Construction Workers' Welfare Board, who have attained the age of 60 years, would be benefited under the new scheme, a spokesman said in Chandigarh.
iii. Those enrolled with the board for five years would get Rs 4,000 per year, while those for 10 years would be paid Rs 6,000 per year.
iv Similarly, Rs 8,000 would be paid annually to those registered for 15 years and Rs 10,000 per annum to those enrolled for 20 years, he said.
v. There are 1.5 lakh construction workers in the state, according to the spokesman.
vi. A new health insurance scheme has also been launched for the workers, under which they can avail free treatment costing up to Rs 1.5 lakh, he said. 

12. The Home Ministry will soon inspect the books of accounts of Aam Aadmi Party in connection with alleged illegal foreign funding to it.

13. The Jammu Festival, aimed at showcasing rich culture, heritage and traditions of the city, began today with a scintillating recital on the santoor, enthralling many a visitors.

14. In a stern perform or perish message, Chief Minister Mamata Banerjee on Thursday stripped Partha Chatterjee of his Commerce and Industry portfolio in a Cabinet reshuffle, giving the key department to Finance Minister Amit Mitra to give a boost to industrialisation in the state.

15. Himachal Pradesh CM Virbhadra Singh will begin the first phase of the winter sojourn to lower areas of the state on Saturday.

16. Govt gives nod for hiking foreign investment in Axis Bank

i. "The Cabinet Committee on Economic Affairs (CCEA) has approved the proposal of Axis Bank for increase in foreign investment from 49 percent to 62 percent. This is subject to the aggregate foreign institutional investors holding not exceeding 49 percent of the paid up equity share capital of the bank," an official statement said.

ii. The approval would result in foreign investment of about Rs 7,250 crore in the country, it said. Following the inflow and hike in stake by foreign investors, the bank will become foreign-owned, whereby every future investment in seven subsidiaries will be governed by the FDI (foreign direct investment) policy, according to sources.

iii. As per the FDI policy, downstream investment by an Indian company, which is not owned and/or controlled by a resident entity/ies into another Indian company would be in accordance or compliance with the relevant sectoral conditions on entry route.

17. Cabinet approves pension proposal for MTNL employees

i. The Union Cabinet today approved a pension proposal for 43,000 MTNL employees, who joined the public sector company from Department of Telecom.

ii. The pension proposal will cost the government an estimated 500 crore rupees annually.
iii. The Union Cabinet also approved that the erstwhile all categories of employees of the government absorbed in MTNL and who have opted for combined service may be given similar treatment in the matter of payment of pensionary benefits as available to the absorbed employees of BSNL. 

18. Bitcoin operators shut shop in India amid RBI warning

i. A number of bitcoin operators in India have begun suspending their business following RBI's warning against use of such virtual currencies due to potential money laundering and cyber security risks. 

ii. While RBI is yet to come out with a clear regulatory framework for bitcoins, which have been gaining currency across the world over the past few months, it has issued an advisory cautioning general public against use of bitcoins and other virtual currencies.
iii. Within days of this advisory issued on December 24, a number of entities offering bitcoin services have suspended their operations, temporarily or indefinitely, while websites of a few others have gone down. 

iv. One of the bitcoin operators in India, buysellbitco.in, has posted its website, "Post the RBI circular, we are suspending buy and sell operations until we can outline a clearer framework with which to work. 

v. However, some other entities continue to run their operations of offering bitcoin exchange services for rupee and other currencies.

About Bitcoin:

i. Bitcoin is a virtual currency that can be generated through complex computer software systems with solutions shared on a network, although the process is complex and such 'mining' can be done only on very powerful servers. 

ii. Hardly three years into existence, bitcoin has already become the world's most expensive currency and its per unit value soared past USD 1,000 level or about Rs 63,000 recently, although the prices have now slipped below Rs 50,000 level. 

iii. Bitcoin came into existence in 2009 and the current number of bitcoin units generated so far stands at about 12 million. However, only a small number of bitcoins are being used for real commercial and retail purposes and a majority of transactions are happening for speculative investments.

Appointments

19. GJM supremo Bimal Gurung took oath as the new Chief Executive of Gorkhaland Territorial Administration (GTA) in Darjeeling today.

20. The Central Government has appointed Arun Tiwari as Chairman & Managing Director of Union Bank of India. Prior to this, He was an executive director at Allahabad Bank.

21. Ashok Lavasa appointed Civil Aviation Secretary

i. Senior IAS officer Ashok Lavasa was today appointed as Civil Aviation Secretary.
ii. The 1980 batch IAS officer of Haryana cadre is currently Special Secretary in Ministry of Power.
iii. He will take charge after superannuation of incumbent K N Srivastava, a 1978 batch IAS officer of Karnataka cadre, this month end, said an official release by Ministry of Personnel.

22. J N Choudhury  is new Chief of NSG

i. Senior IPS officer J N Choudhury has been appointed as head of National Security Guard (NSG) in place of Arvind Ranjan who will take over as the full-time chief of Central Industrial Security Force (CISF).

ii. The Union Home Ministry issued the orders today on the appointments to the two important central security forces.

iii. Mr. Choudhury, who has been appointed as the new DG of the premier ‘black cats’ counter-terror force, is due to retire in May, 2015.

iv. The NSG has specific tasks of undertaking special counter-terror and counter-hijack operations.

23. Arvind Ranjan  is new CISF chief

i. Senior IPS officer Arvind Ranjan who will take over as the full-time chief of Central Industrial Security Force (CISF) in place of J N Choudhury.

ii. The Union Home Ministry issued the orders today on the appointments to the two important central security forces.

iii. Mr. Ranjan, a 1977-batch officer of Kerala cadre with a wide experience in central paramilitary forces, took over the full charge of the 1.47-lakh strong CISF on Thursday at its headquarters here.

iv. The CISF guards vital government installations including airports and nuclear and aerospace facilities in the country.

v. Mr. Ranjan was given the additional charge of the force early this month after incumbent DG Rajiv retired in October this year.

Business and Economy

24. ONGC Videsh Ltd (OVL), the overseas arm of state-owned Oil and Natural Gas Corp. Ltd (ONGC), on Thursday said it has temporarily shutdown oilfields in South Sudan following escalation of violence in the world’s youngest nation.

25. Government today approved modalities for the beleaguered sugar industry to avail interest-free loans to the tune of Rs 6,600 crore from banks for effecting timely payment to cane growers.

26. Air India can now go ahead with the sale of its five long-haul Boeing 777 aircraft to Etihad Airways, with the government giving its nod to the deal today.

27. Country's largest power producing firm NTPC has lined up new projects of 19,000 MW capacity, nearly half of that would be commissioned by 2017.

28. Government today reduced minimum export price (MEP) of onion to USD 150 a tonne from USD 350 to boost shipments and check sharp fall in domestic prices that has led to farmers protest in producing states.

29. The MCX Stock Exchange (MCX-SX) Board on Thursday asked its promoter FTIL to cut stake in the bourse from 26 percent to 2 percent within a month.

Science and Technology

30. Microsoft India today said it is introducing Guardian, a new safety application (app), available exclusively for Windows phone users in India.

Sports

31. India’s top ranked women recurve archer Deepika Kumari has created a national record in women’s 50 metre round in the 34th Senior National Archery Championship in Jamshedpur. She shot 346 points breaking the previous record of 333 points held by Olympian L Bombayla Devi. Former Olympian V Praneetha finished second in the event with 332 points while Reena Kumari scored 322 to win the bronze. In the Men’s category, Atanau Das emerged winner in the individual Olympic round. Olympian pair of Jayanta Talukdar and Deepika Kumari won the recurve mixed team event.