15th Nov to 16th Nov 2014

Union Ministry of S&T launched a Joint Indo-Canadian Science Programme

16-OCT-2014

Union Ministry of S&T launched a Joint Indo-Canadian Science Programme Focusing on Clean Water Technologies on 15 October 2014. India and Canada signed a Memorandum of Understanding (MoU) regarding the joint cooperation in areas of science and technologies between the two countries.

The MoU was signed during the visit of International Trade Minister of Canada, Ed Fast and Minister for National Revenue of Canada, Kerry Findlay to India.

About Joint Indo-Canadian Science Programme
• Under the new programme, a joint collaboration is formed between the Department of Science & Technology, Ministry of Science and Technology of India and the National Science and Engineering Council of Canada to focus on clean water technologies.
• The joint venture will be enabled in building up of Safe and Sustainable Infrastructure and Integrated Water Management which will address the vital aspects related to related to effective water management and clean water supply.
• The programme is in line of Prime Minister Narendra Modi’s Clean River Mission and Clean Ganga Mission and this joint collaboration will help in developing a value based relationship between the countries.
• The programme also enables to promote industrial research & development (R&D) projects with application potential through participation of scientific institutions and industrial units.

India pledged 4 million dollar aid for Gaza reconstruction

16-OCT-2014

India on 12 October 2014 pledged 4 million US dollar aid for reconstruction of Gaza Strip that was destroyed during the Palestine and Israel conflict which started in June 2014. The decision was announced by Sandeep Kumar, Joint Secretary of West Asia and North Africa, Ministry of External Affairs of India.

The decision was a part of National Early Recovery and Reconstruction Plan for Gaza presented by the Palestinian Authority at Cairo International conference. The Conference was co-organised by Egypt and Norway.
Besides, India also committed to assist Palestine under the India-Brazil-South Africa (IBSA) Fund in Palestine.
As part of the Plan, global donors pledged an aid of 5.4 billion US dollar to rebuild Gaza Strip. Aid announced by other countries for reconstruction of Gaza strip during the conference is as follows
• United States - 212 million US dollar
• European Union - 450 million euros
• Turkey - 200 million US dollar
• Qatar - 1 billion US dollar
Palestinian government will carry out the reconstruction plan with full responsibility and transparency in coordination with the UN, the donors, international financial institutions, civil society and the private sector.
Background
The recent conflict between Israel and Gaza-based militant groups including Hamas killed many Palestinians & Israelis. The fight that started in June 2014 also destroyed the Gaza strip. The conflict was stopped after Egypt negotiated a ceasefire deal between the two parties.

Exports increased 2.73 percent in September 2014: Union Ministry of Commerce

16-OCT-2014

Exports from India increased 2.73 percent in September 2014 to 28.90 billion US dollar from 28.13 billion US dollar in September2013. This was revealed by Foreign Trade (Merchandise) data released by the Union Ministry of Commerce and Industry on 14 October 2014.
On the other hand, the value of imports increased to 43.15 billion US dollars in September 2014 from 34.25 billion US dollars in September 2013 representing a growth of 25.96 percent. Imports have increased mainly on account of growth of imports of Gold and Metalliferous Ores & Other Minerals.
As a result, trade deficit (Export value – Import value) in September 2014 stood at 14.24 billion US dollar which was 132.71 percent higher than the value of 6.12 billion US dollar in September 2013.

Cumulative value of Exports and Imports

The cumulative value of exports for the period April -September 2014 -15 stood at 163.7 billion US dollars as against 153.75 billion US dollars registering a growth of 6.47 percent.
The cumulative value of imports for the period April -September 2014 -15 stood at 234.09 billion US dollars as against 230.47 billion US dollars registering a growth of 1.57 percent.
As a result, trade deficit for April-September, 2014-15 stood at 70.39 billion US dollar which was lower than the deficit of 76.72 billion US dollars during April-September 2013-14.
Non-oil imports

Non-oil imports were estimated at 28.65 billion US dollar in September 2014, which was 36.2 percent higher than non-oil imports 21.04 billion US dollar in September 2013.
Non-oil imports during April-September 2014-15 were valued at 151.62 billion US dollar which was 0.8 percent higher than the level of such imports valued at 150.46 billion US dollar in April-September 2013-14.

Switzerland to provide information on black money in time-bound manner

16-OCT-2014

Switzerland on 15 October 2014 agreed to examine Indian requests for banking information on a priority basis and provide requested details in a time-bound manner.
This was revealed in a Swiss-Indian Joint Statement released after high-level meeting between the Revenue Secretary Shaktikanta Das and his Swiss counterpart State Secretary for International Financial Matters, Jacques de Watteville in Berne.

Apart from this, the Swiss authorities will also assist India in obtaining confirmation on genuineness of bank documents on request by the Indian side. It will also swiftly provide information on requests related to non-banking information.
Beside, the two parties discussed various bilateral and multilateral tax and financial issues. They also agreed to continue the dialogue between the two countries.
Background
According to Swiss National Bank’s latest data, total money held by Indians in Swiss banks stood at 14000 crore rupees as on December 2013. This data is nearly 42 percent high from a year ago.
Comment: This announcement of Swiss authorities is a major response to India’s fight against black money allegedly stashed abroad.

Telugu writer Turaga Janaki Rani died

16-OCT-2014

Well-known Telugu writer and former radio artiste Turaga Janaki Rani died on 15 October 2014 in Hyderabad after a prolonged illness. She was 80
Turaga Janaki Rani was survived by her two daughters Usha Ramani and Vasantha Shobha.

Turaga Janaki Rani
•   Janaki Rani was popularly known as Radio Akkayya.
•   She had worked as an assistant station director of AIR (All India Radio).
•   She used to conduct Balanandam, one of the popular programmes.
•   Janaki Rani won the National Best Broadcaster Award for two years in 1991 and 1992.
•   She was also honoured with the title Balasaahitya Ratna by the Bala Sahitya Parishat in Hyderabad in June 2011.

American actress Elizabeth Pena passed away

16-OCT-2014

American actress Elizabeth Pena died on 14 October 2014 in Los Angeles following a brief illness. She was 55.

Elizabeth Pena
•   Born in New Jersey, Elizabeth Pena graduated from the High School of Performing Arts in New York City.
•   Pena began her career in 1978 with Leon Ichaso's film El Super.
•   She has appeared in films such as La Bamba, Down and Out in Beverly Hills, Jacob's Ladder, Lone Star and Rush Hour.
•   Pena was also noted for having starred in a sitcom I Married Dora in 1987 as Dora Calderon, the title character.
•   Pena provided the voice of the character Mirage in Pixar's animated film The Incredibles in 2004.
•   Recently, she played Sofía Vergara's mother role on ABC's Emmy-winning series Modern Family.

ISRO successfully launched third navigation satellite IRNSS 1C

16-OCT-2014

Indian Space Research Organization (ISRO) on 16 October 2014 successfully launched third navigation satellite Indian Regional Navigation Satellite System (IRNSS) 1C.
Polar Satellite Launch Vehicle (PSLV) C26 injected IRNSS 1C into the designated orbit from the first launch pad of Satish Dhawan Space Centre in Sriharikota. This was the 27th consecutive successful flight of PSLV.
Initially, the satellite was injected into a sub-geosynchronous transfer orbit with a 282.56 km perigee (nearest point to Earth) and 20670 km apogee (farthest point from Earth). Later, it was lifted to a geo-stationary orbit.
IRNSS 1C is the third member of the seven satellite constellation of the IRNSS. The first two satellites in the series were IRNSS 1A and IRNSS 1B.
The fourth navigational satellite of the IRNSS segment will be launched in December 2014 and the project will be fully operational in 2015.

About IRNSS 1C
•   The satellite IRNSS 1C is similar in composition to its predecessors 1A and 1B. It carries navigation and ranging payloads.
•   It will play a vital role in the IRNSS operations right from guiding drivers on city roads to aerial navigation, disaster management, mapping and surveillance activities.
•   IRNSS 1C is designed to provide accurate position information service to users in the country as well as the region extending up to 1500 km from its boundary which is its primary service area.
•   The IRNSS 1C will be utilized for two services- Standard Positioning Service (SPS) extended to all users and Restricted Service (RS) which will be encrypted.
•   The IRNSS 1C carried two types of payloads, one for transmitting navigation service signals to the users and another consisting of a C-band transponder to facilitate Cube Retro Reflectors for laser ranging.

ISRO Chairman K Radhakrishnan announced to launch GSLV Mark-III in 45 days

16-OCT-2014

Indian Space Research Organisation (ISRO) Chairman K Radhakrishnan on 16 October 2014 announced that the Indian space agency will launch GSLV Mark-III within next 45 days. This launch of ISRO is one of the most awaited launches of 2014.
GSLV Mark-III will facilitate launch of four-tonne class of communication satellites to Geosynchronous Transfer Orbit. This launch of communication satellites will benefit all sections of the society, including remote and far-flung areas of the country.
The announcement was made by Radhakrishnan from the Mission Control Room in Sriharikota after the successful launch of IRNSS 1C.

Apart from this, another communication satellite GSAT 16 with 48 transponders will be launched on board Ariane 5 from the French Guyana in December 2014. ISRO would launch the next in the IRNSS series IRNSS 1D in December 2014.
GSLV-III or Geosynchronous Satellite Launch Vehicle Mark III
The GSLV-III or Geosynchronous Satellite Launch Vehicle Mark III is a launch vehicle being developed by the Indian Space Research Organization. GSLV Mk III is conceived and designed to make ISRO fully self reliant in launching heavier communication satellites of INSAT-4 class, weighing 4500 to 5000 kilograms. It would also enhance the capability of the country to be a competitive player in the multimillion dollar commercial launch market. The vehicle envisages multi-mission launch capability for GTO, LEO, Polar and intermediate circular orbits.

Sadiq, a 10-year-old terminally ill boy, became Hyderabad’s police commissioner for a day

16-OCT-2014

Sadiq, a 10-year old terminally ill boy became Hyderabad Police Commissioner for a day. His long cherished dream to serve as Police Commissioner was fulfilled by Hyderabad Police Commissioner Mahender Reddy on 15 October 2014.
His last wish was fulfilled by the help of an NGO, Make a Wish Foundation that decided to fulfill Sadiq’s dream on humanitarian ground.
Ten-year-old Sadiq who hails from Peddapalli, Karimnagar is suffering from life-threatening cancer and is undergoing treatment at state-run MNJ Institute of Oncology.

The terminally ill boy entered the office in a Khaki uniform and a cap and occupied the chair of Hyderabad police commissioner for a day, while Hyderabad Police Commissioner Mahender Reddy and other senior officers swiftly saluted him.
Before assuming the office, Sadiq was given a ceremonial welcome by the police when he arrived at the Commissioner’s Office.
Dream of Sadiq
Ten-year-old Sadiq who hails from Peddapalli, Karimnagar dreamt of sitting on the Police Commissioner’s chair and by sitting on the desk he wanted to sign important files, give instructions to the orderliness. He also wanted to catch thieves and uphold the rule of law.
Sadiq is son of Mohd. Raheemuddin and his three uncles are serving in army while two works in police department in Karimnagar, Telangana (29th state of India).

India-Norway signed 13 agreements to promote bilateral relations

16-OCT-2014

India and Norway on 14 October 2014 signed 13 agreements to promote bilateral relations. These include agreement between Defence sector of two countries and an agreement on exemption of visa requirement for holders of diplomatic and official passports.
The agreements were signed in Oslo in the presence of President Pranab Mukherjee and Prime Minister of Norway Erna Solberg.
President Mukherjee was on a three day, from 12 to 14 October 2014, visit to the Scandinavian nation, Norway on the invitation of King Harald V. Mukherjee is the first Indian head to pay an official visit to Norway.

Following are the list of Agreements signed
• Agreement on exemption of visa requirement for holders of diplomatic and official passports to promote bilateral relations
• MoU to promote cultural co-operation and exchanges between the two nations
• MoU in the field of Earth System Sciences to allow exchange of scientific resources, personnel and technical knowledge to support the improvement and development of progress in Earth Sciences and services.
• Three MoU signed by IIT Kanpur with NTNU, University of Oslo and NILU to promote mobility of students and faculty/staff, joint research activities and publications, exchange of academic materials and special short-term academic programs.
• Two MoU signed by IISER, Thiruvananthapuram with SINTEF Materials and Chemistry and Institute of Energy Technology to enhance relations between the two institutions and to develop academic and cultural interchange in the areas of education, research and other activities and to cooperate and work towards internationalization of higher education.
• Three MoU signed by University of Hyderabad with University of Oslo, NTNU and University of Bergen to enhance relations between the two Universities and develop academic and cultural interchange
• Statement of Intent (SoI) in Defence sector with an aim to explore opportunities for cooperation in research and development programs in the field of defence research
• MoU to support promotion and extension of cooperation in "Scientific Research and Technology Development” in the fields of mutual interest of both sides
• MoU to establish a health research relationship for encouraging research in a range of health-related areas of mutual interest, including human vaccines, infectious diseases and antimicrobial resistance
• MoU between Indira Gandhi National Tribal University and University of Agder to enhance the two universities to develop academic especially computer education co -operation to develop a boundary less education system

Karnataka Lokayukta ordered probe into misuse of 32 crore rupees funds for afforestation

16-OCT-2014

Karnataka Lokayukta on 15 October 2014 ordered enquiry into alleged misuse of 32 crore rupees funds meant for afforestation in Gulbarga district of the state.
The order directed ADGP Lokayukta to investigate the allegations made by advocate Dr. Raju Kulgeri in Gulbarga. The ADGP will have to take action under the relevant provisions of Prevention of Corruption Act and other relevant law and to investigate the scam.
The complainant in his plea alleged that 32 crore rupees that was allocated for afforestation between 2001 and 2011 was siphoned off by officials in the forest department. He also alleged that forest coverage of the district has come down from 33 percent to 3.1 percent.

Background
Advocate Dr Raju Kulgeri filed the complaint to Lokayukta Justice Y Bhaskar Rao when he visited the district in July 2013.
In response to complaint, the Lokayukta committee comprising of two private persons namely the deputy conservator of forests and the deputy superintendent of police, Gulbarga, inspected the afforested area and submitted its report.
In the report, they said that the Forest department officials have failed to produce documents, cheques and receipts with regard to the work carried out by them and they did not show any spot for inspection.
Apart from this, another joint inspection report submitted by Deputy SP, Lokayukta of Gulbarga on 31 July 2014 said that there has been misappropriation of funds provided for afforestation and maintenance

India and UK signed MoU on Cultural Cooperation

16-OCT-2014

India and United Kingdom (UK) signed a Memorandum of Understanding (MoU) on Culture Cooperation over next five years on 15 October 2014. The MoU was signed by the Minister of State for Culture Shripad Naik and Sajid Javed, Secretary, Department of Culture, Media and Sport of United Kingdom.

The MoU was signed on Cultural Cooperation which will form the bulwark of the India-UK cultural relations for the period 2014 to 2019.

The agreement envisages collaboration in the field of museums, libraries, archaeology, performing arts, capacity building programs, skill development, joint publications, archives, cinematography and literature.

India and UK countries identified future areas of collaboration which include collaboration between Indian National Museum and British Museum, development of a conservation policy and applied conservation techniques & training, digitization and improved records management practices and conservation of built heritage.

IndiGo signed a MoU to buy 250 A320neo planes from Airbus Group

16-OCT-2014

India's low-cost carrier IndiGo on 15 October 2014 signed a Memorandum of Understanding (MoU) to buy 250 A320neo Family aircraft worth 25.5 billion US dollars from Airbus Group. This agreement is Airbus single largest order by number of aircraft.
While Airbus did not provide the value of the IndiGo order, but its website shows the list price per A-320 neo aircraft as 102.8 million US dollars.
The deal will reaffirm IndiGo’s commitment to the long-term development of affordable air transportation in India and overseas.
IndiGo has previously placed orders for 280 Airbus aircraft (100 A320ceo and 180 A320neo) worth about 11 billion US dollars in 2011.

Airbus A320neo Family Aircraft
The Airbus A320neo family is a family of aircraft under development by Airbus replacing the predecessor A320 family.
The A320neo (new engine option) incorporates many innovations including latest generation engines and large Sharklet wing-tip devices which together deliver 15 percent in fuel savings.
These improvements result in a per seat fuel burn saving of 20 percent compared to current engine option (CEO) jetliners as well as reduced engine noise and lower emissions.
The A320 Family is the world’s best-selling single aisle product line with almost 11000 orders to date and over 6200 aircraft delivered to 400 customers and operators worldwide.
IndiGo
IndiGo is an Indian airline company headquartered at Gurgaon, India. IndiGo was set up in early 2006 by Rahul Bhatia of InterGlobe Enterprises and Rakesh S Gangwal, a United States-based NRI.
It is a low cost carrier and the largest airline in India with a market share of 32.6 percent as of May 2014. The airline offers 534 daily flights connecting to 36 destinations with its primary hub at Indira Gandhi International Airport. It presently has a fleet of 83 Airbus A320 aircraft

ISRO re-positioned Mars Orbiter, Mangalyaan to save it from Comet Siding Spring

16-OCT-2014

Indian Space Research Organisation (ISRO) on 16 October 2014 repositioned its Mars Orbiter, Mangalyaan as a precautionary step against the expected Comet Siding Spring that would fly by Mars, the red planet on 19 October 2014.

ISRO has positioned its Mars Orbiter to a position farthest from the tail of the Comet so that it does not affect the satellite.

Along with the Indian space Agency, the space agencies’ of other countries around the world those have sent their missions to Mars has also repositioned their satellites like MAVEN, Curiosity, the Mars Reconnaissance Orbiter on the planet, so that the Comet Siding Spring would not collide or affect them by its movement.
Background
US space agency NASA has said that the Comet Siding Spring, C/2013 A1 has travelled many billions of miles and would come within about 87000 miles of Mars on 19 October 2014. The comet comes from the Oort cloud, material left over from the formation of the solar system.

C/2013 A1

C/2013 A1 is a Siding Spring is an Oort cloud comet and was discovered on 3 January 2013 by Robert H. McNaught at Siding Spring Observatory using the 0.5-meter (20 in) Uppsala Southern Schmidt Telescope. At the time of discovery it was 7.2 AU from the Sun and located in the constellation Lepus. Comet C/2013 A1 probably took millions of years to come from the Oort cloud.

Union Finance Ministry approved 25 FDI proposals with total investment of 1546 crore rupees

15-OCT-2014

Union Finance Ministry on 14 October 2014 approved 25 FDI proposals with total investment of 1546 crore rupees.
The proposals were cleared by the Union Finance Ministry following rthe ecommendations for the same by Foreign Investment Promotion Board (FIPB), a multi-department panel headed by Finance Secretary Arvind Mayaram.

The proposals include six of single brand retail trade with multi-brand retail trading (MBRT) applications of Flemingo International (BVI) and Miami Perfume Junction, Inc, USA.

The single-brand retail trading proposals which have been cleared include that of Lush Ltd, UK; Austria Puma Dassier Gesellchaft m.b.H, Austria and Bestseller United (Singapore) Pte Ltd, Singapore.

These MBRT proposals relate to investment in setting up shop in duty free area and selling products on board on international flights.

It further include three pharma sector applications, one of Laurus Labs, has also been cleared.

The applicant had sought approval to increase foreign investment up to 100 per cent in its paid up capital and direct foreign investment in its subsidiaries. The proposal entails an investment of 1800 crore rupees.

About FIPB

The Foreign Investment Promotion Board (FIPB) is a national agency of Government of India, with the remit to consider and recommend foreign direct investment (FDI) which does not come under the automatic route. It provides a single window clearance for proposals on FDI in India.

Union Finance Ministry approved 25 FDI proposals with total investment of 1546 crore rupees

15-OCT-2014

The proposals include six of single brand retail trade with multi-brand retail trading (MBRT) applications of Flemingo International (BVI) and Miami Perfume Junction, Inc, USA.

The single-brand retail trading proposals which have been cleared include that of Lush Ltd, UK; Austria Puma Dassier Gesellchaft m.b.H, Austria and Bestseller United (Singapore) Pte Ltd, Singapore.

These MBRT proposals relate to investment in setting up shop in duty free area and selling products on board on international flights.

It further include three pharma sector applications, one of Laurus Labs, has also been cleared.

About FIPB

Harbin Ice Festival celebrated in Hong Kong

15-OCT-2014

The Harbin Ice Festival will be held from 1 November 2014 to 10 November 2014 in Hong Kong. In the Harbin Ice Festival India will showcase her culture, art, food and fashion.
The aim of the festival is to bring awareness about Indian culture to the people of Hong Kong and China.
There will be special focus on creating trade relations between the people of the two countries. This is to further the endeavour to celebrate 2014 as a Year of Friendship and Exchange between India and China.

Some of the biggest names in art, heritage and culture will showcase Indian performing arts and craft, food, fashion and more through dance, music and theatre performances, exhibitions and workshops. This event will bring Indian cultural awareness to the local Chinese community for the first time in such a large scale.
The original Harbin Ice Festival is a popular winter festival that takes place in the town of Harbin and is known for its ice sculptures.
Efforts have been made to recreate the ice exhibition in Hong Kong and light it up using coloured LED lights.

The Narrow Road to the Deep North authored by Richard Flanagan won Man Booker Prize

15-OCT-2014

The Narrow Road to the Deep North: Richard Flanagan
The Narrow Road to the Deep North is a novel of Australian author Richard Flanagan. The book was in news after it won the 2014 Man Booker Prize.

The novel narrates story of a love and war during the construction of the Thailand Burma Death Railway in World War II. The story revolves around a Japanese prisoner-of-war camp and centres upon the experiences of surgeon Dorrigo Evans (an Australian doctor) who was haunted by his wartime love affair with his uncle’s young wife two years earlier. Post war, he finds his growing celebrity as a war hero at odds with his sense of his own failings and guilt.
It is a book that depicts the disturbing stories of prisoners and captors on the Burma railway. It has tried to bridge East and West past and present, with a story of guilt and heroism.

The Narrow Road to the Deep North is the sixth novel for Flanagan. His previous novels were Death of a River Guide, The Sound of One Hand Clapping, Gould's Book of Fish, The Unknown Terrorist and Wanting.

IOC to invest 4 billion US dollar in British Columbia, Canada to source LNG

15-OCT-2014

Indian Oil Corporation (IOC) on 14 October 2014 announced that it will invest 4 billion US dollar in the British Columbia province, Canada, to source liquefied natural gas (LNG) from the region.
The investment is biggest ever from IOC in Canada to secure natural gas for India.
IOC had signed a deal to buy 10 per cent stake in shale-gas assets and a linked liquefied natural gas (LNG) project in British Columbia in May 2014.

The deal marked the entry of IOC into North America.
As part of the transaction, IOC has also agreed to offtake 1.2 million tonnes (mt) of LNG per annum, which represents a 10 per cent of the LNG facility’s production, for a minimum period of 20 years.
About IOC
Indian Oil Corporation Limited is an Indian state-owned oil and gas corporation with its headquarters in New Delhi, India.
The company is mainly controlled by Government of India which owns approx. 79% shares in the company. It is one of the seven Maharatna status companies of India.
It is the world's 88th largest corporation, according to the Fortune Global 500 list, and the largest public corporation in India when ranked by revenue.

OilMin sets up Talukar panel on delays in gas discovery project of ONGC

15-OCT-2014

Union Petroleum Ministry on 3 October 2014 set up a Panel headed by B.N.Talukar to inquire into the reasons for delay in developing gas discoveries in ONGC's Krishna Godavari basin KG-D5 block.
The three-member committee will be headed by B N Talukar, Directorate General of Hydrocarbons, and will have the financial advisor and a director from the ministry.
The committee will submit its report by end of October 2014.
ONGC's KG-D5 is next to Reliance Industries (RIL) eastern offshore KG-D6 block in Bay of Bengal. Both blocks were awarded in the first round of auction under New Exploration Licensing Policy (NELP) in 2000.
While RIL began oil production from its KG-D6 block in September 2008 and gas output in April 2009, ONGC has made 11 oil and gas discoveries in KG-D5 block and planned to begin production from the block in 2018 and the oil output in 2019.
After noticing the delay in the ONGC production planning, the ministry wants to investigate the reasons for the delay.

ONGC Chairman and Managing Director Dinesh K Sarraf welcomed constitution of the committee and said the company will extend all cooperation in the investigation.
ONGC claimed that KG-D5 block will produce up to 90000 barrels per day. The production is estimated to be the largest from any field on the east coast. ONGC will produce 17 million standard cubic meters per day of gas from the block.
KG-D5 is divided into a Northern Discovery Area (NDA) and Southern Discovery Area (SDA).

Kotak Mahindra Bank launched Facebook-based funds transfer platform KayPay

15-OCT-2014

Kotak Mahindra Bank (KMB) on 14 October 2014 launched Facebook-based funds transfer platform KayPay.
KayPay is a bank agnostic payment product for Facebook users to send money to each other.
KayPay is built on top of the mobile based Immediate Payment System (IMPS) that was launched by the National Payment Corporation of India. Users have to register their bank accounts once to start using the service.
At present, a sender can initiate fund transfer to any person through mobile phone, courtesy the IMPS infrastructure.
The IMPS platform has 28 banks under it and account holders of any of these banks can use the newly launched service.
The process
The sender will have to register on a dedicated website for the initiative called ‘KayPay’ wherein he will have to give bank account details and the bank’s MMID, apart from personal credentials.

Once registered, the sender can initiate transactions and if the beneficiary is not registered on KayPay, he will be directed to a page to register for completed a transaction.
If the beneficiary is registered on KayPay, the transaction will be executed faster.
Facilities to the user
•   Users won't have to depend on net banking or have to know the details of the payee.
•   Users can transfer funds by choosing recipients from their Facebook friends list.
•   There will be no charges for either sending or receiving the money.
On the security front
The bank claimed that it is fully secured, even in the event of the Facebook account getting compromised as it uses two-factor authentication to complete a transaction. Additionally, there is also an expiry time for a transaction.

KMB has set a limit of 2500 rupees per transaction and a total of 25000 rupees a month for sending, while a beneficiary may also not get more than 25000 rupees a month.

Himalayan glaciers are expanding instead of shrinking

15-OCT-2014

Scientists’ in their study of the Karakoram region of the Himalayas revealed that the glaciers of the region were stable and is expanding at the time when the glaciers across the world are melting. The team said that in the region snowfall is increasing instead of decreasing. ‘
In their study, the scientists discovered an explanation for this stability and said that precipitation is increasing across the Himalayas; most of this moisture drops in the summer – except in Karakoram, the region where the snow dominates the scene. The study was reported in Discovery news on 13 October 2014.

Karakoram is a home to K2 the second-highest peak on earth and is a chain of snowy peaks along the border of India, Pakistan and China.
Study Process
Study researcher Sarah Kapnick, a postdoctoral researcher in atmospheric and ocean sciences at Princeton University explained the process that was studied to find the reason behind this stability.
During the study, Kapnick and her colleagues’ collected data on recent precipitation and temperatures from Pakistan Meteorological Department and other sources, including satellite data. To track changes in three regions of the Himalayas between 1861 and 2100: the Karakoram, the central Himalayas, and the southeast Himalayas which included part of the Tibetan Plateau, they combined the collected information with climate models. While studying they found that a new model that simulates climate down to an area of 965 square miles (2500 square kilometers) and matched the observed temperature and precipitation cycles seen in the Karakoram.
They claimed that the model that is used by the Intergovernmental Panel on Climate Change (IPCC) to simulate what will happen if the world continues to emit greenhouse gases at current rates was unable to capture these seasonal cycles.
The reason for unnoticing the seasonal cycles was that the IPCC and other climate models are lower-resolution and they captured climate change over areas no finer than about 17027 square miles (44100 square km).
The study was published in April 2012 issue of the journal Nature Geoscience and was reported in Discovery news on 13 October 2014.

Book on Rajesh Khanna Dark Star: The Loneliness of Being Rajesh Khanna released

15-OCT-2014

Dark Star: The Loneliness of Being Rajesh Khanna: Gautam Chintamani

The book on Rajesh Khanna Dark Star: The Loneliness of Being Rajesh Khanna was released on 15 October 2014. The book was written by Gautam Chintamani.
About the book
Dark Star: The Loneliness of Being Rajesh Khanna is an aching reminder of the man behind the facade. Chronicling the films and the times of Rajesh Khanna, Dark Star looks at the phenomenon of an actor who redefined the 'film star'.

Much like a celestial object doomed to darkness, after a glorious run, Rajesh Khanna might have spent a better half of his career in the shadow of his own stardom, but even after forty years of his last monstrous hit, he continues to be the yardstick by which every single Bollywood star is measured.
About Rajesh Khanna
Rajesh Khanna was a Bollywood actor, film producer and politician. He was born in Amritsar, India. He is referred to as the first superstar and the original superstar of Indian cinema. He starred in 15 consecutive solo hit films in the period 1969 to 1971.
His Achievements and Awards

In 1974, BBC made a film on him, titled Bombay Superstar. Khanna is regarded as one of the greatest and most influential actors in the history of Hindi cinema.
Khanna won four Best Actor Awards in the Bengal Film Journalists' Association Awards, and received 25 nominations.
He won three Filmfare Best Actor Awards, one Filmfare Special Guest Actor Award in 1973, and received a Filmfare Special Award in 1991, after 25 years in the Hindi film industry.
He received the Filmfare Life Time Achievement Award at the 50th anniversary Filmfare award ceremony in 2005.
He has been posthumously awarded India's third highest civilian honour Padma Bhushan.
In 2013, he was officially bestowed with the title The First Superstar of Indian cinema at Dadasaheb Phalke Academy Awards. A postage stamp, bearing his face, was released by India Post to honour him

Union Finance Minister to set inflation targets for RBI

15-OCT-2014

Union Finance Minister on 12 October 2014 gave the green signal for the much awaited reforms in the monetary policy framework.
As per the new reforms, Union Government will specify the inflation targets for the Reserve Bank of India (RBI) to achieve. The RBI will set inflation as its top priority in its policy statements.
The decision is in contrary to the recommendation of an Urjit Patel Committee. Urjit patel committee was formed by RBI in 2013 to examine monetary policy.
The committee had recommended that the monetary policy decision-making should be vested with a monetary policy committee, chaired by the RBI Governor.
Present Status
Until now, the RBI has the sole power to regulate the monetary policy. RBI governor regulate the monetary policy with the help of deputy Governors of RBI.

Other recommendations of Urjit Patel Committee
Other recommendations were that the central Bank adopts the new Consumer Price Index (CPI) as the measure of the nominal anchor for monetary policy. And that the RBI set the target CPI inflation level at 4 per cent (+/- 2 per cent) to be achieved through its monetary policy tools.
Inflation target
Inflation targeting is an economic policy in which a central bank estimates and makes public a projected, or target inflation rate and then attempts to steer actual inflation towards the target through the use of interest rate changes and other monetary tools.
Because interest rates and the inflation rate tend to be directly related, the likely moves of the central bank to raise or lower interest rates become more transparent under the policy of inflation targeting.
World Approach
The world was rethinking if inflation targeting should be the gold standard for monetary policy makers. The European Central Bank, for instance, follows ‘eclectic’ monetary policy approach where growth and other macroeconomic goals are also objectives.

In several countries, a similar structure is already in place, where a monetary policy panel fixes rates. The move to change the structure comes amid debate over RBI's powers in the future and the primacy it enjoys among financial sector regulators.

Final Test: Exit Sachin Tendulkar authored by Dilip D’Souza released

15-OCT-2014

Final Test: Exit Sachin Tendulkar: Dilip D’Souza
A book titled Final Test: Exit Sachin Tendulkar authored by writer-journalist Dilip D’Souza was released on 15 October 2014. The book has been published by Random House India and books forward has been written by Harsha Bhogle.
Final Test: Exit Sachin Tendulkar is a close scrutiny of Tendulkar’s last Test played at the Wankhede in November 2013 in which he scored 74 in the only innings that he played in the match. India won the match against West Indies by an innings and 126 runs against West Indies.

The book has tried to revisit Sachin Tendulkar’s final Test appearance and captured all the excitement and emotion during the two and a half days of the match. The book elaborates the deafening noise in the Wankhede and how it turns into a silence so that one can hear Tendulkar’s footsteps as he begins the walk back to pavilion.
The book includes minute details of the match both on and off-field and the writer has also tried to tease out larger issues that plague the game in India as well as overseas.

About Dilip D’Souza

• Dilip D'Souza is a Mumbai-based writer and journalist
• He writes about social and political causes and his columns have appeared in several publications
• His column about how two young engineers from Kerala built a dam in rural Maharashtra and supplied electricity is believed to have inspired a key segment of the 2004 movie Swades directed by Ashutosh Gowariker
• D’Souza has previously authored titles like
a) The Curious Case Of Binayak Sen
b) Roadrunner: An Indian Quest In America
c) Branded by Law: Looking at India's Denotified Tribes
d) The Narmada Dammed: An Inquiry Into the Politics of Development

Vice President of India released the book titled Untold Story of Indian Public Sector

15-OCT-2014

Untold Story of the Indian Public Sector: Dr UD Choubey

The Vice President of India M Hamid Ansari on 14 October 2014 released a book entitled Untold Story of the Indian Public Sector authored by Dr UD Choubey, the Director General of SCOPE (Standing Conference of Public Enterprises).

About the book Untold Story of the Indian Public Sector: UD Choubey
Today, millions of young men and women aspire to join the esteemed ranks in Indian Public Sector to contribute to the creation of a new nation. Unfortunately, over the years the Public Sector has witnessed tremendous defamation.
The book throws light on various aspects of working in Public Sectors. The book provides a clear presentation of the overall environment and workings of the Public Sector that the author Dr UD Choubey had experienced.

Paralympic Games to be held in India in February 2015

15-OCT-2014

Union Minister of Social Justice and Empowerment on 13 October 2014 announced that a multi-sport Paralympic Games will be held in India in February 2015.

The games are scheduled to be held from 20 February to 26 February 2015. Athletes from India and abroad will participate in these games.
About Paralympic Games
All Paralympic Games are governed by the International Paralympic Committee (IPC). There are Winter and Summer Paralympic Games.
The summer paralympic games were held in 1988 in Seoul, South Korea. All Paralympic Games are governed by the International Paralympic Committee (IPC).

The Paralympic Games are organized in parallel with the Olympic Games, while the IOC-recognized Special Olympics World Games include athletes with intellectual disabilities, and the Deaflympics include deaf athletes.

IMImobile Ltd acquired UK-based mobile messaging platform TxtLocal Ltd

15-OCT-2014

London-based firm IMImobile Ltd on 14 October 2014 acquired mobile communications company TxtLocal Ltd (TextLocal) for 11 million euro in a cash and equity deal.
The initial consideration for the deal is worth 10 million euro in cash and 1 million euro by way of IMImobile shares. There is a deferred consideration of up to 2.15 million euro.
Highlights of the acquisition
•   Post acquisition, mobile messaging platform of TextLocal will be integrated with IMImobile’s core infrastructure.
•   TextLocal’s platform will provide significant cross-sell and lead generation opportunities.
•   TxtLocal Ltd will also leverage its global footprint to introduce TextLocal’s offering into new international markets.
•   TextLocal and its customer base will benefit from IMImobile’s capabilities of delivering multi-channel customer engagement and mobile payments solutions that work in synergy with TextLocal’s features such as mobile vouchers and ticketing.
•   The acquisition will allow IMImobile to target the small and medium businesses (SMBs) segment and expand its cloud-based mobile messaging offering.

IMImobile Ltd
Originally, the company was established by Vishwanath Alluri and Shyam Bhat as IMISoftware in 1999 to develop software for power transmission and telecom towers.
In 2000 the two founders saw an opportunity to offer a richer set of mobile data services in a mobile landscape dominated by voice and SMS. Subsequently in 2007, the original business of IMISoftware was sold and the company was renamed IMImobile.
The company enable clients to engage and transact with their customers efficiently through smarter mobile engagement using mobile as a channel to create new revenue streams.
It supports clients in over 60 countries and has 650 employees worldwide.
TxtLocal Ltd
TxtLocal Ltd was established in September 2005 as a mobile communications company in United Kingdom. Alastair Shortland is the founder and CEO of the company.
The company was listed as a Media Momentum top 20 fastest growing digital agency across Europe for the last three years as well as it won a Chamber Business Award for marketing Innovation.

Global Handwashing Day observed across the world on 15 October

15-OCT-2014

15 October: Global Hand Washing Day

Global Handwashing Day (GHD) was observed across the world on 15 October 2014. Theme for 2014 GHD is Clean Hands Save Lives.
GHD is a campaign to motivate and mobilize millions around the world to wash their hands with soap as handwashing with soap is a key approach to disease prevention. Handwashing with soap is the most effective & inexpensive way to prevent diarrheal & acute respiratory infections, which take the lives of millions of children in developing countries. Together, they are responsible for the majority of all child deaths.

About Global Handwashing Day (GHD)
Global Handwashing Day (GHD) was created at the annual World Water Week 2008 held in Stockholm from 17 to 23 August 2008. The purpose for creation of the day was to initiate the Public Private Partnership for Handwashing (PPPHW).
The first Global Handwashing Day took place on 15 October 2008, the date that was appointed by the UN General Assembly in accordance with year 2008 as the International Year of Sanitation. The theme for Global Handwashing Day’s inaugural year was Focus on School Children.

Union Ministry of H&FW banned the import of animal tested cosmetics in India

15-OCT-2014

The Union Ministry of Health and Family Welfare (H&FW) on 14 October 2014 banned the import of animals tested cosmetics in India. Earlier, it banned cosmetic animal testing within the country.
The ban came in the form of Rule 135-B that states no cosmetic that has been tested on animals after the commencement of Drugs and Cosmetics (Fifth Amendment) Rules, 2014 shall be imported into the country. The ban will come into effect on 13 November 2014.
This amended Drugs and Cosmetics Rules imposing dual ban (test and import) has now put India in the league of European Union and Israel that had earlier imposed such ban long ago.
This significant development made India the first cruelty-free cosmetics zone in South Asia.

Background
Humane Society International (HSI) India’s Be Cruelty-Free campaign is celebrating a historic victory for animals as India banned the import of animal tested cosmetics.
It is Humane Society International India’s Be Cruelty-Free campaign that was instrumental in achieving this final import ban. In June 2014, HSI met with Union Ministry of Health and Family Welfare to present a petition of more than 70000 signatures supporting an import ban and apprised him of the cruel practice of testing for cosmetics on animals.
Be Cruelty Free campaign of HSI
Be Cruelty-Free is the campaign to end animal testing for cosmetics in India.
In many parts of the world, animals in laboratories are still suffering and dying to test cosmetics such as lipstick and shampoo. The chemicals are forced down into their throats, dripped into their eyes and onto their shaved skin. It is the ugly secret of the beauty industry that Humane Society International’s Be Cruelty-Free campaign is determined to end.
India’s dual test and import ban is the latest victory in a string of achievements for the Be Cruelty-Free campaign globally. Earlier in 2014, Be Cruelty-Free campaigners in Australia, Brazil, New Zealand, Taiwan and the United States all celebrated the introduction of bills proposing national cosmetic animal test bans.
Humane Society International (HSI)
Humane Society International is one of the only international animal protection organizations in the world working to protect all animals including animals in laboratories, farm animals, companion animals, and wildlife.
HSI supports programs in many countries around the world and maintains offices in Australia, Brussels (Europe office), Canada, Costa Rica (Latin America office), India, the United Kingdom and the United States (The HSUS).

Gautham Roy appointed as the new Managing Director of CPCL

15-OCT-2014

Gautham Roy on 14 October 2014 was appointed as the new Managing Director (MD) of Chennai Petroleum Corporation Ltd (CPCL).
His appointment was made by Union Ministry of Petroleum and Natural Gas, Government of India. He served as an Executive Director in Indian Oil Corporation Ltd before assuming the new post.
He was appointed in place of A S Basu who retired on 31 May 2014. Since June 2014, the charge of Managing Director of CPCL was with S Venkataramana, Director-Operations of CPCL.

Chennai Petroleum Corporation Ltd (CPCL)
•   CPCL was formerly known as Madras Refineries Ltd. It is a subsidiary of Indian Oil Corporation.
•   It has two refineries with a combined refining capacity of 11.5 million tonnes per annum.
•   It was formed as a joint venture in 1965 between the Government of India, AMOCO and National Iranian Oil Company (NIOC) having a share holding in the ratio 74:13:13 respectively.
•   In 1985, AMOCO disinvested in favor of the Government of India leading to revision in shareholding percentage to 84.62 per cent for the government and 15.38 per cent of NIOC.
•   The company went public in 1994.
•   IOC acquired government stake in CPCL in 2000-01 and presently IOC holds 51.89 percent shares while NICO controls 15.40 percent of shares

Australian author Richard Flanagan won 2014 Man Booker Prize

15-OCT-2014

Australian author Richard Flanagan on 14 October 2014 won the 50000 pounds Man Booker Prize for his wartime novel The Narrow Road to the Deep North. His name was announced as the winner at London’s Guildhall and was presented the prize by The Duchess of Cornwall.
Flanagan is the third Australian to win the prize after Thomas Keneally and Peter Carey. Thomas Keneally's Schindler's Ark won in 1982 while Peter Carey won for Oscar and Lucinda (1988) and The True History of the Kelly Gang (2001).
This was the first year that the Man Booker prize was open to all authors writing in English, regardless of nationality. With this change in the rules of the prize, some writers had expressed fears that this change would lead to dominance of the US authors.

About The Narrow Road to the Deep North
Flanagan's novel is set during the construction of the Thailand Burma Death Railway in World War Two. It also tells the harrowing stories of prisoners and captors on the Burma railway and revolves around two great themes, namely love and war. The prose of the novel has bridged East and West past and present, with a story of guilt and heroism.
The book narrates story of a Japanese prisoner-of-war camp and centres upon the experiences of surgeon Dorrigo Evans who was haunted by his love affair with his uncle’s young wife two years earlier. The Narrow Road to the Deep North is dedicated to prisoner san byaku san ju go - who was a reference to his father's Japanese prison number, 335.
About Richard Flanagan
• Richard Flanagan’s father was a survivor of Japan’s campaign to build the railway who died on the day when Flanagan emailed his final draft to his publisher
• He has worked as one of the screenwriters on Baz Luhrmann’s film Australia
• The Narrow Road to the Deep North is the sixth novel for Flanagan. His previous novels were Death of a River Guide, The Sound of One Hand Clapping, Gould's Book of Fish, The Unknown Terrorist and Wanting
• He directed a feature film version of The Sound of One Hand Clapping (1998)
• He was born in Tasmania in July 1961

Shortlisted Authors for the year
Shortlisted authors of the Man Booker Prize included two American writers, three British and one Australian and they were Ali Smith, Neel Mukherjee, Howard Jacobson, Karen Joy Fowler, Richard Flanagan and Joshua Ferris.

Author	Title of Novel	Nationality
Joshua Ferris	To Rise Again at a Decent Hour	American
Karen Joy Fowler	We Are All Completely Beside Ourselves	American
Howard Jacobson	J	British
Neel Mukherjee	The Lives of Others	British
Ali Smith	How to be Both	British

Neel Mukherjee was shortlisted for his novel The Lives of Others, a book that narrates the sweeping account of life in 1960s Calcutta.

About Man Booker Prize
The Man Booker Prize for Fiction was formerly known as the Booker-McConnell Prize and commonly known simply as the Booker Prize is a literary prize that is awarded annually for the best original novel, written in the English language.
The 2013 Booker Prize was given to Eleanor Catton for her novel The Luminaries and the first Booker Prize was given in 1969 to PH Newby for his novel, Something to Answer For.

59th Annual National Railway Awards

14-OCT-2014

Indian Railways on 10 October 2014 celebrated its 59th Annual Railway National Awards function 2014. Union Railway Minister D.V. Sadananda Gowda awarded 132 rail personnel for their exemplary contribution to the country.
The award function was held at Bangalore and D.V. Sadananda Gowda was the chief guest.
Union Rail Minister awarded Harish Kanwar with National Rail Award. Harish Kanwar is a Deputy Director in railway board.

Harish Kanwar has mainly contributed in promoting the inauguration of Pirpanjal tunnel.
About Pirpanjal tunnel
The Pir Panjal Railway Tunnel or Banihal railway tunnel is an 11.215 km railway tunnel located in Pir Panjal Range of middle Himalayas in Jammu and Kashmir, India, North of Banihal town.