current affairs march 2014

5/25/2018 Current Affairs March 2014

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Current Affairs March 2014

Iwao Hakamada- Worlds longest-serving death row-inmate freed by Japan

March 31, 2014

The Japanese court release of the Worlds longest serving death row inmate,Mr. Iwao Hakamada (78), as the evidence

used against him were probably made up.

About Mr. Iwao Hakamada

Nationality:Japanese.

Japanese former professional boxer.

Sentenced to death on September 11, 1968 for a mass murder (known as theHakamada Incident).

Convicted of killing a company manager and his family and setting fire to their central Japan home, where he walive-in employee.

Known for:Worlds longest death-row inmate (48 years) certified by Guinness World Records.

Apart from the United States, Japan is the only major industrialized democracy to carry out capital punishment, a practithat has led to repeated protests from European governments and human rights groups. (Japan carries out a handful ofexecutions every year).

Note: The only crimes that can lead to a death sentence in Japan are murder and treason.

President Pranab Mukherjee re-promulgated SEBI ordinance

March 31, 2014

President Pranab Mukherjee clearedthe re-promulgation of the SEBI Ordinance that provides powers for SEBI Chairto authorize Investigating Authority or any other officer of the regulator to conduct search and seizure under the SEBI Ac

and crack down on Ponzi schemes.

SEBI ordinance Securities Laws (Amendment) Bill 2013

Purpose:To arm the regulator with more stringent powers comes in wake of thousands of duped investors reporttaking to the streets in Siliguri (West Bengal) protesting the proliferation of chit fund companies there and the Rs2,000-crore Sardhaa chit fund scam.

SEBI can regulate any money pooling scheme worth Rs 100 crore or more and attach assets in cases ofnon-compliance and its Chairman can order search and seizure operations.

Empowers the market watchdog to seek information, such as telephone call data records, from any persons orentities in respect to any securities transaction being investigated by it.

Note:The SEBI ordinance lapsed on January 15, has been re-promulgated for the third time as the Parliament could not the Securities Laws (Amendment) Bill, 2013, in the winter session.

Indias forex reserves near $300 billion mark

March 31, 2014

Indias foreign exchange reserves continued their rally for the fourth straight week, increased by $1.35 billion to 298.64billion dollar on a surge in currency assets even though the reserve position with the IMF slid heavily.


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As per the data released by Reserve Bank of India( RBI)

Gold reserves remained unchanged at $ 20.978 billion.

Foreign currency assets (FCAs), a major part of the overall reserves, rose $1.58 billion to $ 271.40 billion.

FCAs expressed in dollar terms, include the effect of appreciation/depreciation of the non-US currencies viz. theeuro, pound and yen held in its reserves.

The special drawing rights were down by $ 16.9 million to % 4.462 billion, while the countrys reserve position the IMF was down by a whopping $ 214.7 million to $1.801 billion.

MoF: Indias external debt at $426 billion in December, 2013

March 31, 2014

As per the quarterly report of Ministry of Finance (MoF), Indias external debt was at $ 426 billion including thegovernments debt of $ 76.4 billion in December 2013. The total external debt of $ 426 billion showed an increase of $ 2billion over the March-end level.

Reasons for increase of Indias external debt during the period were

Due to long-term debt particularly NRI deposits. A sharp increase in NRI deposits reflected the impact of fresh FCNR(B) deposits mobilised under the swap scheduring September-November 2013.

Excerpts of the quarterly report of Ministry of Finance (MoF) on December 2013 figures

Long term debt:$333.3 billion showed an increase of 8.1 % over March, 2013 level.

Short-term debt:Declined by 4.1 % to $92.7 billion.

Government (Sovereign) external debt: $76.4 billion, (17.9 % of total external debt)

The share of US dollar denominated debt was the highest in external debt stock and stood at 63.6%, followed bydebt denominated in Indian rupee (19.4 %), SDR (7.1 %), Japanese yen (5.0 %) and Euro (3.1 %).

The debt has remained within manageable limits as indicated by the external debt to GDP ratio of 23.3 %, vis-a-21.8 % at end-March 2013 and debt service ratio of 5.9 % in 2012-13.

Indias foreign exchange reserves provided 69 % cover to the total external debt as of December end, against 72as of March-end 2013.

Indias external debt has remained within manageable limits due to prudent external debt management policy of Government of India.

Note:The external debt management policy continues to focus on monitoring long and short-term debt, raising sovereignloans on concessional terms with longer maturities, regulating external commercial borrowings through end-use, all-in-cand maturity restrictions, and rationalizing interest rates on Non-Resident Indian deposits.

Parthasarathi Shome panel for tax administration reform set upMarch 31, 2014

In a bid to bring more credibility among tax payers and to streamline income tax procedures, the Union Government hasup a Tax Administration Reform Commission(TARC) comprising officials from public and private sector agencies.

About Tax Administration Reform Commission (TARC)

Chairman: Dr. Parthasarathi Shome.

Focus:On the rules and features and structural reforms in tax administration.


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Members: Former chairmen of two tax boards, Former Chief Financial Officer from IT service provider Tata ConsultancServices and an Ex-Vice President for Taxation from the Murugappa Group.

Purpose: To bring in more transparency in the tax department and in the collection of taxes as a certain amount of distremerged between the tax department and the tax payers.

SEBI extends time to implement FPI regulations to June 30, 2014

March 31, 2014

The market regulator, Securities and Exchange Board of India (SEBI)extended the time-frame for implementingnewForeign Portfolio Investor (FPI) regulationsby three months toJune 30, 2014.

About new FPI regulations

SEBI hasdivided FPIs into three categories as per their risk profile and the KYC (Know Your Client) requirements. Tnew FPI regime makes the KYC norms and other registration procedure much simpler as compared to existing process.

Purpose:To make an easier registration process and operating framework for overseas entities seeking to invest Indian capital markets.

The new regulations will replace the existing SEBI norms for Foreign Institutional Investors (FIIs) and the new cof investors, FPIs, would encompass all FIIs, their sub-accounts and qualified foreign investors (QFIs).

Designated Depository Participants (DDPs): Through which FPIs can apply for registration, may continue to oQFI accounts tillMay 31, 2014.

Category I FPIs: It would enlist the the lowest risk entities including foreign governments and government reforeign investors.

Category II FPIs:It would comprise of broad based funds, appropriately regulated entities, funds whose investmmanager is appropriately regulated, university funds, university related endowments, pension funds etc.

Category III FPIs:It would cover all others not eligible under the first two categories.

Note:FPIs will be granted permanent registration. At present, foreign investors are given only one year or five year appro

to invest in the country. They will be permanent unless suspended or cancelled by the board or surrendered by the FPI.

2014 Ukraine crisis: UN General Assembly rejected Russian annexation of Crimea

March 31, 2014

The United Nations (UN) General Assembly refused to recognize Russias annexation of Crimea from Ukraine andpassnon-binding Resolution 68/262that declared invalid Crimeas referendum. In the 193-nation assembly, the resolution

Supported by 100 United Nations member states that declared invalid Crimeas Moscow-backed referendum.

Eleven nations voted against the resolution viz.Armenia, Belarus, Bolivia, Cuba, North Korea,Russia,Nicara

Sudan, Syria, Venezuela and Zimbabwe. NATO and Western powers voted overwhelmingly in favor.

58 Abstention countries:Afghanistan, China,Indiaand Pakistan, many South American nations, etc.

More than 20 nations didnt vote viz. Israel, Iran, etc.

The UN General Assembly Resolution 68/262is a resolution adopted by the United Nations General Assembly in respto the 2014 Crimean crisis and entitledTerritorial integrity of Ukraine.

Note:The resolution was introduced by Canada, Costa Rica, Germany, Lithuania, Poland and Ukraine.


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Kisan Card launched by Axis bank to facilitate easy agriculture lending to farmersthrough ATMs.

March 29, 2014

The private lender bank, Axis Bank launched anelectronic Kisan Card on the RuPay platform, through which a farmecan withdraw up to Rs. 1 lakh per day from Automated Teller Machines ( ATMs)

Purpose: To facilitate easy agriculture lending to farmers through ATMs.

Electronic Kisan Card

Will beoffer to agrarian customers on their cash credit crop loan accounts.

Helpful for them toreduce the interest burden as the interest payments start after withdrawal of the money.

Provides queue free,247 disbursement facilityfor farmers.

Allows them to use their loan limit bywithdrawing cash up to Rs 1 Lakh per day, in the required quantum, aswhen required, thereby reducing their interest burden and negating the risk of carrying higher volumes of cash.

Amnesty International released Global death penalty report 2013

March 29, 2014

Amnesty International released the Global Death Penalty Report 2013 in London, with a con governments who still killed in the name of justice to impose a moratorium on the deatpenalty with a view to abolishing it

.Highlights of annual Amnesty International report 2013

At least 22 countries which are still applying death penalty, consider the abolition of capital punishment as a toppriority. Also, the number of countries which use the death penalty has reduced in the last 20 years.

Worlds Top executioner:China.

Overall 32 countries signed pardons on death sentences viz. Afghanistan,India,Indonesia, Iran, Japan, Saudi ASouth Korea, the United Arab Emirates (UAE), USA, etc.

Countries vindicated convicts:Afghanistan, Bangladesh, Egypt, India, the UAE and USA.

Nine persistent executioners or The9 Worst Offenders(as they were known to execute every year since 20072013): China, Iran, Iraq, Saudi Arabia, USA, Yemen, Sudan, Bangladesh and North Korea.

Public executions were known to occur:Iran, North Korea, Saudi Arabia and Somalia.

No executions were reported in Singapore, while several death-row prisoners had their sentences commuted inthat country in 2013.

Pacific sub-region continued to be a virtually death penalty-free zone, despite threats from Papua New Guinresume executions.

For the first time since 2009,Europe and Central Asiawas anexecution-free zone,with the only country stillclinging to the death penalty being Belarus, although that country did not put anyone to death in 2013.

Indian figures of annual Amnesty International report 2013:

President Pranab Mukherjee rejected the mercy petitions of 18 prisoners on death row in 2013, the highesnumber of rejections by any President in the last 25 years.

The international standards were violated on the execution of Mohammad Afzal Guru in February 2013.

Raised concerns about the fairness of Afzal Gurus trial viz. he did not receive legal representation of his choice


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lawyer with adequate experience at the trial stage, Afzal Gurus family were not informed in time of his imminentexecution and his body was not returned to the family for last rites and burial.

72 new death sentences were known to have been imposed throughout the year and at least 400 people were belito be on death row at the end of the year.

About Amnesty International

Type:Non-profit NGO.

Founded:July 1961 by Peter Benenson in the United Kingdom. Headquarters:Global International Secretariat in London, United Kingdom.

Objective:To conduct research and generate action to prevent and end grave abuses of human rights, and to demjustice for those whose rights have been violated.

Mr. Sunil Gavaskar: Appointed by SC as interim BCCI chief for IPL 7

March 29, 2014

The Supreme Court of India appointed batting legend, Mr. Sunil Gavaskaras theInterim BCCI President of BCCI tooversee Indian Premier League (IPL) 2014 in place of N Srinivasan and also directed him to relinquish his job as a Crick

Commentator. The other responsibilities of the board would be performed by BCCI vice-president Shivlal Yadav.

The apex court cleared that they have not passed any order preventing any player or any team from participating in the IPtournament 2014.They permitted Chennai Super Kings and Rajasthan Royals to play IPL matches of season 7 as per the schedule.

Note:TheJustice A K Patnaik benchpassed interim order in the IPL fixing and betting case and refused to pass any orfor allowing former BCCI chief N Srinivasan to participate in the activities of ICC.

Bollywood actor Arjun Kapoor: New Brand Ambassdar of Earth Hour 2014

March 29, 2014

Bollywood actor Arjun Kapoor became the national ambassador of the Earth Hour 2014 that was observed on March 29.

Under the Earth Hour initiative, citizens are asked to switch off all electricity for an hour. This year, it will beobserved Saturday from 8.30 p.m. to 9.30 p.m.

Earth Hour campaign:I Will If You Will (IWIYW) to encourage positive action for the environment.

Note: Earth Houris an annual global event at which hundreds of millions of households, businesses and governmentsaround the world turn off their lights for one hour in order to call attention to the need of action on climate change.(Organized by the World Wide Fund for Nature (WWF)).

Dendroid -Android Malware targeting Indian Users

March 29, 2014

TheIndian Computer Emergency Response Team (CERT-IN)warned about a currently activeDendroid malwarecampaign that is spreading across India, targeting Android users.

About Android Malware Dendroid

Belongs to deadly Trojan family.

Created by modifying the required permissions by any clean APK (Android Application Package) with Dendroid


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RAT functionality that allows detailed management of the infected devices.

Once activated in our smart-phone, could affect and control all applications in our android phone and interceptprivate SMSes coming in or going out.

The malicious toolkit,Dendroidis able togenerate a customized malicious APK file that offers many amazing featureviz.

Can delete and modify call logs and contacts.

Can open any web page on device browser. Dialing any number.

Recording calls.

Intercepting device messages.

Uploading images and videos to remote server.

Can open an installed application.

Able to perform DoS attack from the victims device.

Can change the command and control server location.

Measures to protect from malicious malware Dendroid

Install applications downloaded from reputed app stores only.

Keep updating your mobile anti-virus and Firewall solution to protect your device from malware and cyber attac

Always Check applications permissions before installing it.

Avoid using unsecured and unknown Wi-Fi networks.

Advise by Indian cyber security:To keep an eye on data usage (application-wise usage also) and unusual increain mobile bills and keep an eye on device battery usage (application-wise usage also).

Note:The CERT-In is the nodal agency to combat hacking, phishing and to fortify security-related defences of the IndianInternet domain.

SEBI: To issue guidelines for FATCA compliance for fiscal year 2014-15

March 29, 2014

To combat possible tax evasion by Americans through Indian entities, the Securities and Exchange Board of India (SEBIplanned to issue theForeign Account Tax Compliance Act (FATCA) compliance norms in the fiscal year 2014-15. Fthe implementation of the FATCA, the US government is required to signInter-Government Agreement (IGA)withvarious countries, including India, where American individuals and companies may hold accounts and other assets. Tilnow, the USA has signed IGAs with 22 countries viz. the UK, Switzerland, etc.

Currently, thenegotiations are going on between the India and US for an IGAto be signed between the twocountries under the FATCA.

Purpose of FATCA:To check and impose withholding tax on illicit activities of some wealthy individuals who uoffshore accounts to evade millions of dollars in taxes.

Once this new Act and the Indo-US IGA come into effect, all financial institutions in India would need to carry odetailed due diligence on all their clients and report details of their US clients to the US tax department (InternalRevenue Service).

Any non-compliance of the FATCA provisions would result in penal withholding of 30% of the total US-sourceincome of such financial institutions.

SEBI would examine the applicability of the FATCA provisions to all market intermediaries regulated by the capital marregulator. It was examined by SEBI in coordination with the Ministry of Finance.

Note:FATCA became a law in 2010, the final regulations were issued for it in January 2013 and it is set to come into eff


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from 1 July 2014, after signing of IGAs with different countries.

India Rating: Extended Basel III deadline to ease pressure on banks

March 29, 2014

As per the rating agency,India Ratings(formerly Fitch), the putting off of Basel III by the Reserve Bank of India (RBI) March 2019 would ease pressure on banks. There were industry-wide concerns about the potential stress on asset quality

consequential impact on performance and profitability of banks. Thus, the apex bankextended deadline for banks toimplement Basel III capital norms up to March 31, 2019, instead of March 31, 2018.

Though, capital injection would remain a priority for banks through the rest of this decade, as the total capitalrequired during the migration to Basel III has only gone up due to addition of an extra year.

The governments commitment to maintain its majority shareholding in public sector banks assures them of steaequity injections.

Now, the budgeted amount of Rs 11,200 crore is higher than the new requirement of under Rs 10 billion equity bPSU banks in FY15, injecting the full amount will help reduce capital pressures in subsequent years.

It can also help meet part of any shortfall in the hybrid tier 1 requirement of Rs 13,400 crore now estimated forFY15.

The revised norms have also tightened the loss absorption features of hybrid capital by eliminating the temporarwrite-down feature in both hybrid tier 1 and tier 2 instruments.

These instruments can be either permanently written down or converted into equity that improves the quality ofcapital by increasing any potential loss that investors may face.

Note:Basel series of norms refer to a broad supervisory standards formulated by Basel Committee on Banking Supervisi(BCBS) to ensure that financial institutions have enough capital on account to meet obligations and absorb unexpectedlosses.

SC awarded compensation for sewer deaths since 1993

March 29, 2014

The Supreme Court of India awarded acompensation of Rs.10 lakh each for the families of all the manual scavengerswho have died in sewerage work since 1993 and also criminalized entering sewer lines without safety gear.

TheChief Justice P. Sathasivambench stated that Sewer deathsentering sewer lines without safety gear should be maa crime even in emergency situations.

Identify the families of all the persons who havedied in sewerage work (manholes, septic tanks) since 1993anaward compensation of Rs.10 lakhfor each such death to the family members.

Ordered all the state governments and Union Territories to fully implement legislation for eradicating manualscavenging and take action against violators, while issuing directions for education, employment and rehabilitation o

affected people. As per the relevant scheme of the Central or state governments, the children of manual scavengers should be entto scholarships.

The people who were employed as scavengers be alloted residential plot or ready-built house or financial assistafor house construction according to their eligibility and willingness,

At least one member of their family shall be given training in livelihood skill and be paid monthly stipend.

At least one adult member shall be given subsidy and concessional loan for taking up an alternative occupation osustainable basis.

TheIndian Railways is the largest employer of manual scavengers. It should take time bound strategy to enmanual scavenging on the tracks and persons released from manual scavenging should not have to cross hurdles toreceive what is their legitimate due under the law.


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Note:Manual scavenging is a term used for the practice of physically removing human excrement from dry toilets with bhands, brooms and metal scrappers. About 95% of the manual scavengers are dalits who clean the so-called night soil,mostly from the toilets of the upper castes.

Newly acquired IAF aircraft C-130J Super Hercules crashed near Gwalior

March 29, 2014

The newly-acquired US-made C-130J Super Hercules Special Operations transport aircraft of the Indian Air Force crashenear Gwalior. All the five members of the crew died in the incident.

Recently, India has inducted six C-130J Super Hercules aircraft, which were bought from the US at the cost of around R6000 crore (USD 1.1 billion) three years ago. The per unit cost of the aircraft comes to around Rs 1,000 crore

IAFs C-130J Super Hercules aircraft

Acquired by India in 2010 from the US.

Used in a major show of stresngth against China when its troops pitched tents in Ladakhs Daulat Beg Oldie secin 2013.

Maximum load of 6 pallets or 74 litters or 16 CDS bundles or 92 combat troops or 64 paratroopers, or a combinaof any of these up to the cargo compartment capacity or maximum allowable weight.

Powered by four Rolls Royce AE2100 engines and Dowty six bladed props which provide the aircraft withtremendous power.

Can fly at an altitude of 28,000 feet (8,615 meters) with the maximum payload of 42,000 pounds (19,090 kilograand has a top speed of 417 mph/362 ktas (Mach 0.59).

Range at maximum normal payload is 2,071 miles (1,800 nautical miles).

Equipped with an Infrared Detection Set (IDS) and an air-to-air receiver refueling capability for extended rangeoperations.

Could perform precision low-level flying, airdrops and landing in blackout conditions.

Self-protection systems and other features are included to ensure aircraft survivability in hostile air defence environment

Third Nuclear Security Summit (NSS) 2014

March 28, 2014

The Nuclear Security Summit (NSS) 2014 held atThe Hague, Netherlands. In the third edition of nuclear summit, 58 wleaders participated to enhance the global nuclear security structure.

Objective:To prevent nuclear terrorism by reducing the amount of dangerous nuclear material in the world, improving thsecurity of all nuclear material and radioactive sources and improving international cooperation.

Leaders of 35 countries viz. Canada, France, Germany, Israel, Italy, Japan, Kazakhstan, Morocco, the NetherlaPhilippines, UAE, the United Kingdom, the United States of America,Vietnam, etc, agreed to adopt the Nuclear SecuGuidelines. These guidelines will bind and engage IAEA teams to assess the security of nuclear materials.

Permit international experts to evaluate their security procedures for nuclear material. It guarantees that securitybe assessed on the basis of international standards and ensures the effectiveness of the measures taken.

New guidelines of NSS 2014

Reduce the amount of dangerous nuclear material (highly enriched uranium and plutonium) in the world thatterrorists could use to make a nuclear weapon.

Improve the security of radioactive material (including low-enriched uranium) that can be used to make a dirty

bomb.


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Improve the international exchange of information and international cooperation.

Keep the quantities of nuclear material as low as possible and to reduce them where possible. Countries that usehighly enriched uranium or plutonium as fuel for power generation will limit the quantity involved as much as they c

Also covers other radioactive materials viz. low-enriched uranium, cobalt-60, strontium-90 and caesium-137. Thmaterials have useful applications in hospitals industry, research and can also be used with ordinary explosives to madirty bomb.

Note:The leaders of the countries refused to adopt the Nuclear Security Guidelines, viz. China, Russia, Brazil, India,

Indonesia, Saudi Arabia, Switzerland, Argentina, Thailand, South Africa, Malaysia, Nigeria, Singapore, Egypt, Pakistan,Azerbaijan, Jordan and Gabon.

Indias spices export registered 41% increase in April-Dec 2013

March 28, 2014

As per the data released by theSpices Board at Kochi, the Indias spices export in rupee terms registered an increase of41% in the current financial year (April-Dec 2013). The total volume of 1,93,625 tonnes seed spices valued at Rs.1,906 chas been exported against 1,09,067 tonnes valued at Rs.1,008 crore in the previous year.

Seed spice basket had registered 78 % increase in volume and 89 % in value.

Cumin registered a prominent increase of 89 % in volume and 83 % in value.

Mint and mint products viz. mint oils, menthol and menthol crystals topped the item-wise list.

Value-added products viz. spice oils, oleoresins, etc, fetched Rs. 1,242 crore by exporting 8,665 tonnes.

Pepper and cardamom (small) marked an increase of 41 % and 23 % respectively.

Note:Indian spices export is on course to touch $3 billion by 2016-17.

Internet transition to speedier Internet Protocol version 6 (IPv6)

March 28, 2014

The Internet transition from the currentInternet Protocol IPv4 to the next-generation Internet protocol IPv6 is set tospeed up in 2014 as web addresses under the system IPv4 come to an end. IPv6 addresses are longer and more complex tthe familiar 192.168.0.1-style IPv4 addresses.

Why the internet transition from IPv4 to IPv6 is taking place?

With the growth of the Internet, the number of unused IPv4 addresses will eventually run out soon because every device computers, smartphones, game consoles, etc, that connects to the Internet requires an address. IPv4provides only 4.3 billaddresses i.e. not enough as the Internet continues to grow exponentially. The new Internet addressing system InternetProtocol version 6 (IPv6)is being deployed to fulfill the need for more Internet addresses.

Switchover from IPv4 to IPv6 will bring about many changes viz. No more NAT (Network Address TranslatiAuto-configuration, No more private address collisions, Better multicast routing, Simpler header format, Simplifiemore efficient routing, True quality of service (QoS), also called flow labeling, Built-in authentication and privacysupport, Flexible options and extensions, Easier administration, etc.

About Internet protocol (IP)

A protocol by which data is sent from one computer to another on the Internet.

Each computer (known as a host) on the Internet has at least one IP address that uniquely identifies it from all otcomputers on the Internet.

Current versions of Internet Protocol (IP):IPv4 and IPv6.


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IPv6 (Internet Protocol Version 6)- Latest version of the Internet Protocol (IP)

Provides an identification and location system for computers on networks and routes traffic across the Internet.

Address:128-bit long written in hexadecimal and separated by colons.

More efficient and more secure than IPv4.

Provides for trillions of IP numbers or addresses.

Permit automatic setup and quality control.

IPv4 (Internet Protocol Version 4)

Fourth revision of the Internet Protocol (IP) used to identify devices on a network through an addressing system

Operates on a best effort delivery model, in that it does not guarantee delivery, nor does it assure proper sequencor avoidance of duplicate delivery.

Uses a 32-bit address scheme.

Provides only 4.3 billion addresses (i.e. not enough as the Internet continues to grow exponentially.

Universal Account Number (UAN)- will be provided by EPFO from Oct 2014

March 28, 2014

The Employees Provident Fund Organization (EPFO) will provide permanent account numbers to its over five croresubscribers from October, 2014.

EPFO is a statutory body of the Government of India under the Ministry of Labour and Employment. It administa compulsory contributory Provident Fund Scheme, Pension Scheme and an Insurance Scheme. (Headquarters: NeDelhi).

Permanent or Universal Account Number (UAN)

Purpose:To provide great relief to those workers in organized sector who frequently change jobs, particularly, inconstruction sector.

Will facilitate subscribers to avoid filing Provident Fund (PF) account transfer claims on changing jobs.

Subscriber would not be issued new PF account number on joining new employer.

The UAN would be one account number which would be allotted to a subscriber for various schemes run by theEPFO for his or her entire service period with different employers.

The roadmap for implementing the UAN programme will be prepared by Centre for Development of AdvanceComputing (C-DAC).

Benefit:UAN will help to reduce the workload of the EPFO to a great extent as it receives over 12 lakh claims fotransfer of PF account on changing of jobs by its subscribers.

Note:The C-DAC is the premier research and development organization under the Union Ministry of CommunicationsInformation Technology for carrying out R&D in IT, Electronics and associated areas

Indian Rhino Vision (IRV) 2020-Launched by WHO-India to protect Vulnerable Rhino

March 28, 2014

WHO-Indialaunched Indian Rhino Vision (IRV) 2020programmeto protect and increase the population of theone-horned rhinoceros (Rhinoceros unicornis). IVR 2020 is a partnership among the Government of Assam, the InternatiRhino Foundation, the World Wide Fund for Nature, the Bodoland Territorial Council, and the U.S. Fish & World Wildliffoundation.


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Purpose:To attain a population of 3,000 wild one-horned rhinos in seven of Assams protected areas by the year 2020.

Procedure to protect & increase the population of Rhinos

The horns of rhinos will be trimmed before their translocation to Laokhowa-Burachapori Wildlife Sanctuary inNagaon district of the state.

The trimming will be done in a way that any damage is not done to their internal organs and the trimmed horns wgrow back to their original shape within four to five months.

This action of trimming will also protect them from the poachers, who hunt them just to take away their horns.

Note:Rhinos are listed as vulnerable on the IUCN Red list of Threatened Species. To achieve the targeted number, theprogramme needs an increase by 600 over the existing population available in the state in next 8 years. It means an annuincrease of about 3 %.

Jammu and Kashmir- First state to declare all Election booths as No Smoking Zones

March 28, 2014

Jammu and Kashmir became the first state in the country to declare all election booths in the Lok Sabha polls 2014 as no

smoking zones. It will be mandatory for all election booths to display the warning No Smoking Area Smoking here is offence.

In reference toSection-4 of Cigarettes and Other Tobacco Products(Prohibition of Advertisement and Regulof Trade and Commerce, Production, Supply and Distribution) Act 2003 that prohibits smoking at all public places, tChief Electoral Officer declared all election booths as No-Smoking Zones.

Note:The directions were issued in the backdrop of a request made by the J&K Voluntary Health Association.

WHO declared South-East Asia region polio-free

March 28, 2014

The WorldHealthOrganization (WHO) declaredSouth-East Asia region as polio-free region.The certification is beinghailed as a historic milestone in the global fight to eradicate the deadly virus. It came after, when WHO certified Indiaofficially polio-free after the country went three years with no new cases of the illness .

India embarked on the programme to eradicate polio 19 years ago in 1995, when the disease used to cripple morthan 50,000 children in the country every year. Since January 2011, India has been polio free nation.

Southeast Asiais the fourth of six WHO regions to officially eradicate the disease, which means 80 % of the worpopulation now lives in a polio-free area.

Other WHO Regions that are certified as polio-free:the Region of the Americas (1994), the Western PacificRegion(2000) and the European Region (2002).

Though, the disease is stillendemic in Afghanistan, Nigeria and Pakistan. Sri Lanka, Maldives and Bhutan have been free of the virus for more than 15 years.

Member states in the WHOs Southeast Asia Region:Bangladesh, Bhutan, South Korea, India,Indonesia,Maldives, Myanmar, Nepal, Sri Lanka, Thailand and Timor-Leste.

The polio-free tag does not mean the end of polio vaccination. Now, nations will have to work towards introducithe injectable polio vaccine and the eventual phasing out of oral polio vaccines.These countries will introduce a doseIPV by the end of 2015 as part of their commitment to the global polio endgame plan which aims to ensure a polio-frworld by 2018.

Note:Polio- a viral disease that mainly affects children under five years old. The virus is transmitted through contaminatfood and water, and multiplies in the intestine. It can then invade the nervous system, causing paralysis in one in every 2

infections.


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Scientists discovered how to avoid a speeding ticket

March 27, 2014

The researchers from University of Leicester found that the drivers could escape detection by driving so fast that theirnumber plates would appear invisible to speed cameras.

The car would need to be travelling at about 192 million km/ hr to make the number plate invisible.

Thisspeed equates to one sixth of the speed of light and no man-made vehicle is capable of going anywherenear this speed.

The fastest man-made object theHelios Probe is only capable of travelling at one five thousandth of the speelight.

Mechanism to avoid a speeding ticket

The calculations are based on theDoppler Effect the physical effect where the frequencies of light or sound wemanating from an object increase or decrease when it moves towards or away from us.

With light, this process creates red shift where the frequency of light from an object travelling away from theobserver is shifted towards the red end of the colour spectrum.

The faster an object is travelling, the bigger the shift in frequency. It would theoretically be possible for the light from a fast-moving car number plate to be shifted out of the frequrange which speed cameras are able to detect.

Assumption:The camera would be able to detect a similar frequency range as the human eye roughly 400 terahat the red end of the spectrum to 790 terahertz at the violet end.

Generally, Car number plates are yellow ( frequency of around 515 terahertz).

To work out the necessary speed of the car for the number plate to be shifted past the 400 terahertz boundary ovisible spectrum, the researchers utilized the equation used by astronomers to calculate how fast stars are travelling afrom the Earth.

They found the car would need to be traveling at 53 million m/sec equal to one sixth of the speed of light.

Note:The study published in the Journal of Physics Special Topics.

Kolkata- Worlds 7th most riskiest city

March 27, 2014

As per theWorlds Riskiest Cities 2014 report,Kolkataemerged as the worlds 7th most risky city, the only entry fromIndia, when it comes to being under threat from all types of natural disasters.

Excerpts of the Worlds Riskiest Cities 2014 report

Based onSwiss Res risk modelling expertise and the latest hazard information.

Focus:On the most severe natural disasters confronting 616 of the worlds largest urban areas and assesses thepotential impact they have on local residents and the wider economy.

Most risky city in the world for all types of natural disasters:Tokyo.

Manilla the second riskiest city followed by the Pearl River Delta in China, Osaka, Jakarta, Nagoya, Kolkata,Shanghai, Los Angeles and Tehran.

Storms endanger mostly urban areas on the coast. The danger of wind storms is most acute in the metropolitan aof eastern Asia.

Across the 616 cities assessed, river flooding poses a threat to over 379 million residents. Over 283 millioninhabitants could potentially be affected by earthquakes and 157 million people are at risk from strong winds.

Winter storms in Europe:London (2.2 million), Paris (1.1 million), the Rhine-Ruhr area in Germany (1.0 millioand Amsterdam- Rotterdam (0.9 million) are at top four spots.


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For thefirst time in human history more people live in cities than in rural areas. The United Nations expects 68% oworlds population to be living in urban areas by 2050.

BofA-ML pricks poll bubble: Indias growth depends on global cycle

March 27, 2014

As per the American brokerage Bank of America-Merrill Lynch(BofA-ML) report titled,Will markets be third time

lucky? Three big ifs: Polls, the El Nino, and the dollar,the global economic cycle drives growth far more than who ruin India.

Excerpts of report Will markets be third time lucky? Three big ifs: Polls, the El Nino, and the dollar

The BJP led NDA has a fighting chance in around 425 seats out of the 543 seats.

On Bihar, the entry of LJP in NDA fold is particularly sweet for BJP since LJP was part of the NDA in 2002 befoleft the alliance.

In both the past two Lok Sabha Elections (2004 & 2009), the market behaved irrationally: in 2004 it lost 15.9 %even as growth was picking up and in 2009 it rallied 15 % on the result day just before growth began to fall.

On both the occasions, the market did not get the poll outcomes correctly.

TheIndian market should look more at the global economic cycle and its impact on growth than who ruleIndiaafter Lok Sabha Elections 2014.

Warned that after talking to over 20 equity and fixed income investors in Singapore, the forex market players wobe playing it safe and square off their positions before the polls.

The real test for the investors will be impact of the three big ifs facing the country-the polls, the El Nino and the dollar.

Note: BofA-MLis the corporate and investment banking division of Bank of America. (Headquarters:New York, UniStates &Founded: January 1, 2009).

WHO: Air pollution top environmental health risk

March 27, 2014

As per the new estimate of World Health Organization (WHO), Air pollution is the worlds single largest environmentalhealth risk that caused 7 million deaths in 2012, 80% of which were from heart attacks and stroke.

Excerpts of the UN health agency World Health Organization (WHO) report

Air pollution ranges from cooking fires to auto fumes.

Biggest pollution-related killers:heart disease, stroke, pulmonary disease and lung cancer.

Hardest-hit regions:Southeast Asia viz.Indiaand Indonesia, and the Western Pacific, ranging from China andSouth Korea to Japan and the Philippines.

Indoor air pollution:The global death toll is 4.3 million deaths, caused by cooking over coal, wood and biomasstoves.

Outdoor pollution: The global death toll is 3.7 million, with sources ranging from coal heating fires to diesel eng

Outdoor air pollution caused by car exhausts, power stations, emissions from agriculture and industry, heating inpeoples homes (Group 1 carcinogenic, a cancer causing agent in the same category as tobacco smoke, UV radiationplutonium).

Note:Its first time, WHO has directed a link between air pollution and heart disease, respiratory problems and cancer. Tlatest figures of 2012 are more than doubles from the previous estimates of deaths caused by air pollution in 2008.


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25th Arab summit 2014: Rejected Israel as Jewish state

March 27, 2014

The Arab Summit refused to recognize Israel as a Jewish state and condemned the Israeli illegal settlements established othe Palestinian territories.

Highlights of 25th Arab Summit 2014

Took place inKuwait city, Kuwait.

Spoke out against the Israels continued settlement activities and attempts to Judaise Jerusalem and its violationsagainst Al-Aqsa Mosque as void and contrary to international law.

Stressed on theArabs support to the Palestinian struggle and called on the UN Security Council to shoulder itresponsibilities towards the Palestinian cause.

To intensify all efforts to establish an independent Palestinian state with its capital in East Jerusalem and invitedUN Security Council to take the necessary steps to resolve the Arab-Israeli conflict and end the Israeli occupation of Palestinian territories and hold it responsible for the peace process failure.

Stressed on Arab solidarity with the Syrian people and their legitimate demands to live in a state based on freedoand equality.

Invited the international community to put an end to the war in Syria and eliminate the suffering of the Syrianpeople.

About Arab League

Regional organization of Arab countries in and around North Africa, the Horn of Africa, and Southwest Asia.

Official language:Arabic.

Administrative center:Cairo.

Represents 21 states and about 350 million people.

Objective:to draw closer the relations between memberStates and co-ordinate collaboration between them, tosafeguard their independence and sovereignty, and to consider in a general way the affairs and interests of the Arab

countries.

Soon, Kotak Mahindra Bank link current accounts to Twitter

March 27, 2014

The private lender bank,Kotak Mahindra launched a new current account product that will enable the account holders undertake 21 services viz. cheque book requisitioning, checking last few transactions, etc, and using their Twitter accoun

For the activity of listed service, the bank customers have to use the dedicated hashtags (#).

The account christenedJifi, also involves a host of loyalty-based reward points accrued from merchant

transactions carried out using the account, referrals made and sharing and commenting of tweets/updates. The reward points, classified as transactional and social, can be redeemed for discounts with select online merchor also transfered to friends.

The account can be opened by a self-invite either via Facebook or an e-mail, the bank said, adding that existing accountholders can also get a new account opened.

Note:The bank has integrated all their systems with their core banking software and can seamlessly throw up the requireresult into the account holders Twitter handle as a direct message.


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RBI simplified foreign portfolio investment norms

March 27, 2014

The Reserve Bank of India (RBI) simplified foreign portfolio investment norms by putting inplace an easier registratioprocess and operating framework to attract inflows.

The portfolio investor registered in reference to SEBI guidelines is known byRegistered Foreign Portfolio Investor

(RFPI).

Registered Foreign Portfolio Investor (RFPI)

Purchase and sell shares and convertible debentures of Indian companies through a registered broker on recognizstock exchanges in India as well as purchase shares and convertible debentures, which are offered to public in terms relevant SEBI guidelines, it said.

Also acquire shares or convertible debentures in any bid for, or acquisition of, securities in response to an offer fdisinvestment of shares made by the Central Government or any State government.

Would be eligible to invest in government securities and corporate debt, subject to limits specified by the RBI anSEBI from time to time.

All investments made by that FII/QFI in line with the regulations prior to registration as RFPI shall continue to bvalid and taken into account for computation of aggregate limit.

Mightoffer cash or foreign sovereign securities with AAA rating or corporate bonds or domestic governmesecurities,as collateral to the recognized stock exchanges for their transactions in cash as well as derivative segmentthe market.

Note:The existing portfolio investor class viz.Foreign Institutional Investor (FII) and Qualified Foreign Investor (Qregistered with SEBI included under RFPI.

Historic MS-DOS and Word for Windows source code available to the public

March 27, 2014

The software giant,Microsoft released the source codes of MS-DOS and Word for Windows in collaboration with theComputer History Museum (CHM) in Silicon Valley. The source code fromMS DOS 1.1 and 2.0,as well asMicrosoWord for Windows 1.1a, is made public under a non-commercial license that forbids re-publication elsewhere on the W

Purpose:To understand how software has evolved from primitive roots to become a crucial part of our civilizatio

These important pieces of source code and history will be preserved and madeavailable to the community forhistorical and technical scholarship.

Users can download the code for MS-DOS and Word for Windows from CHM Historical source code series.

MS-DOS secured Microsofts monopoly of the PC market for more than 20 years and the massive success of Wofor Windows would go on to cultivate Microsofts Office suite, which has generated hundreds of billions of dollars fo

the company. Both MS-DOS 1.1 and 2.0 are written inAssembly Language (ASM)and the Microsoft Word for Windows 1.1written inC language.

These source codes will be helpful for the project work of university. We can hack the code and then load it up inWindows emulator but cant redistribute it.

About the Computer History Museum

Headquarters:Mountain View, California.

Non-profit organization:The worlds leading institution exploring the history of computing and its ongoing impon society.

Dedicated to the preservation and celebration of computer history and is home to the largest international collect


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of computing artifacts in the world, encompassing computer hardware, software, documentation, ephemera, photogrand moving images.

Note:The source codes are available for educational and non-commercial purposes only.

Japanese architect Mr. Shigeru Ban won the Pritzker Architecture Prize 2014

March 27, 2014

The Japanese architecture,Mr. Shigeru Ban (56) won the Pritzker Architecture Prize 2014 for his unique approach in usmaterials viz. paper tubes, bamboo and shipping containers.

About Mr. Shigeru Ban

Known forhis creative and inexpensive designs for disaster relief shelters.

Purpose:To build an inexpensive and easy-to-construct-and- dismantle structures.

Designed a range of buildings to help victims of natural disasters and refugees in places viz. Rwanda, Turkey, InChina, Haiti,Japan, etc.

Uses cardboard tubes to make temporary housing in disaster zones.

Notable work:the seven-storied wooden office-building in Zurich, and the church made of cardboard tubes andcolour glasses in Christchurch, New Zealand.

Pritzker Architecture Prize

Establish: 1979.

Awarded for:A career of achievement in the art of architecture.

Sponsor:Hyatt Foundation.

Prize:$100,000, a citation and a bronze medallion.

Note:Mr. Ban would be the seventh Japanese architect to receive the prize when it is given away on June 13, 2014 in

Amsterdam

Malaysia Airlines MH370 incident

March 26, 2014

TheMalaysia Airlines flight MH370disappeared from air traffic control screens off Malaysias east coast early on Marcas it flew from Kuala Lumpur to Beijing with 239 people on board.

As per the recent analysis of satellite data, Inmarsat and UK Air Accidents Investigation Branch (AAIB) have concludedflight MH370 ended in thesouthern Indian Ocean. The search for missing Malaysia Airlines flight MH370 has resumeafter weather conditions in the southern Indian Ocean improved.

About Malaysia Airlines MH370 Flight Incident

Flight MH370 to Beijing took off from Kuala Lumpur.

It diverted from its planned flight path and contact between the plane and ground controllers ceased less than an after take-off; no distress signal or message was sent.

After the last contact with air traffic controllers, all on-board communications ceased when the planes transpondwas switched off.

Planes movements picked up by different countries military radar and satellites after this, providing incompleteinformation about its course.

No debris from the Boeing 777-200ER has been recovered despite an international search involving the navies a


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air forces of several Asian nations as well as the United States.

Many countries viz.

A multinational search effort has focused on seas some 2,500km to the southwest of the Australian city of Perth.

Now, sophisticated analysis of satellite data has narrowed down the search area but this is still a vast area of thIndian Ocean.

Six countries viz. Australia, New Zealand, the US, Japan, China and South Korea are sending aircraft or ships the search area.

The reasons for the loss of the flight remain a mystery.

Nirbheek- Indias first gun for women

March 26, 2014

A 6-shot cylinder revolver,Nirbheekis the Indias first gun for women to defend themselves. This 0.32 bore light weirevolver is designed and manufactured to give tribute to December 2012 gang-rape victim Nirbhaya.

About Indias handgun for women Nirbheek

Manufacturer:Ordnance Factories Board, Kanpur.

Unit cost:Rs.122,360.00 Feed system:6-shot Cylinder.

Weight:525 g.

Length:177.8 mm.

Uses.32 caliber bullets with an effective fire range of 50 ft.

Has a titanium-alloy body and wooden handle.

Designed by arms experts as an Indian hybrid of a Webley & Scott and Smith & Wesson.

Bank of India (BoI) launched Instant Money Transfer (IMT) scheme

March 26, 2014

The Bank of India (BoI) launched an Instant Money Transfer (IMT)scheme and became the first state-run lender to alwithdrawal of funds to individuals from its ATMs without an account in the bank. In other words, the IMT scheme allowcustomers to withdraw cash without using either debt card or credit card at BoIs IMT-enabled ATMs.

Mechanism of Instant Money Transfer (IMT) scheme

Initiation by Sender for IMT: By providing receivers mobile number, four digits sender code, the IMT amounand authorises the transaction from either banks ATM or banks internet banking.

The sender provides receivers name, address and mobile number to the bank either on SMS or Internet banking

Thereceiver receivesthe notification of IMT on his mobile phone, along with a four-digit SMS Pin.

The sender separately communicates thefour-digit sender code to the receiver. After getting these two pieces of information, one from the sender and the other on SMS, the receiver walks intobanks nearest IMT-enabled ATM andwithdraws cash by punching in the mobile number, sender code, and SMSPin.

The receiver would receives partial details for cash withdrawal on his/ her mobile phone and partial details bycustomer.

Thesender will be charged of IMT fee of Rs 25 for every IMT transaction , he or she issues to a receiver orbeneficiary.

Monthly withdrawal limit prescribed for IMT transaction:Rs.25,000 for receiver, and per transaction limit oRs.10,000.

Instant Money Transfer (IMT)


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An innovative domestic money remittance facility.

Purpose:To extend the services across banks branches, so that the IMT sent from the account-holder of one bancan be withdrawn from other bank ATM.

Allows the customer to send money to a receiver only by using the receivers mobile number through the banksATM and retail internet banking facility.

The receiver can withdraw money from a Bank of Indias ATM without using a card.

The facility can be initiated by thebanks customer over banks ATM and retail Internet banking.

Can also be cancelled by the sender before its expiry and withdrawal.

From the date of issue,valid for 14 days only. After 14 days the transaction expires and the sender is credited bwith the IMT amount.

Deadly Ebola Virus detected in Guinea

March 26, 2014

Thedeadly Ebola virus detected in the samples of a viral hemorrhagic fever that has killed more than 50 people in the WAfrican nation of Guineamarked the first ever human outbreak of the disease in the country. There are fears that the virmay have been spread across the border into Sierra Leone. UNICEF has set up Doctors without Borders in Gueckedou toto stop the disease from spreading.

At present, Guinea is also grappling with epidemics of measles, cholera and meningitis.

And an outbreak of deadly epidemicEbolacan be devastating for the country, as they have weak medical infrastructure.

About deadly Ebola virus (EBOV)

Order:Mononegavirales.

Family:Filoviridae.

Genus:Ebolavirus.

Causes an extremely severe disease in humans and in nonhuman primates in the form of viral hemorrhagic fever

Ebola haemorrhagic fever (EHF) is a viral haemorrhagic fever and one of the most virulent viral diseases knownhumankind.

Distinct strains of the Ebola virus:Bundibugyo, Ivory Coast, Reston, Sudan and Zaire.

Transmissionto humans can come from wild animals or from direct contact from infected human blood, feces orsweat, or by sexual contact and the unprotected handling of contaminated corpses.

Signs and symptoms:Severe fever and muscle pain, weakness, vomiting and diarrhea. Then, organs shut down,causing unstoppable bleeding.

Betweentwo and 21 days after becoming infected , patients begin to feel weak and experience headaches, musaches and chills. They lose their appetite and feel lethargic, suffering from stomach cramps, diarrhea and nausea. Aso-called hemorrhagic fever sets in, accompanied by severe internal bleeding. This condition affects the gastrointestitract, spleen and lungs, eventually leading to the death.

The virus is called a molecular sharkin health publications.

According to the World Health Organization, the deadly fever has a fatality rate of up to 90 %.

No cure or vaccine for the virus.

Occurs mostly in remote villages inCentral and West Africa, near tropical rain forests.

Note:The only way to limit the possibility of infection and an epidemic of this deadly disease is to take preventativemeasures. These include establishing hygiene practices in hospitals, wearing protective latex gloves and having adequatequarantine measures in place.


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Ukraine crisis 2014: G8 Summit in Russia cancelled

March 26, 2014

The US and top economic powers have cancelled the G8 Summit to build pressure on Russia against its military action inUkraine.

The leaders of Canada, France, Germany, Italy, Japan, the United Kingdom, the US, the President of the European Counc

and the President of the European Commission took the decision in The Hague that the G8 Summit scheduled in Sochi inJune, 2014would be replaced by a G7 meeting in Brussels, without Russian involvement.

The G-7 countries stated that they will suspend their participation in the G-8 until Russia changes course and theenvironment comes back to where the G-8 is able to have a meaningful discussion.

Note:Russia was added to the G7 club of the US, Japan, Germany, Italy, France, Canada and Britain in 1999 as a rewardchoosing the path of democracy after the collapse of Communism.

Mr. Govind Mishra selected for Saraswati Samman 2013

March 26, 2014

The renowned Hindi author,Mr. Govind Mishra will receive Sarawasti Samman 2013 for his bookDhool Paudho Papublished in 2008. The award would makeMr. Mishra the second Hindi author to receive the honour after noted Indian Mr.Harivansh Rai Bachchan.

About Saraswati Samman

Establish:1991 by the K. K. Birla Foundation.

Cash Price:Rs 10 lakh, a citation and a plaque.

Annual award for outstanding prose or poetry literary works in any Indian language listed in Schedule VIII of thConstitution of India.

Note:In 1991,Mr. Harivansh Rai Bachchanbecame the first Hindi author to receive the Saraswati Samman for hisautobiography in four volumes.

MoD got EC nod for appointment of new Navy chief

March 25, 2014

The Election Commission gave its nod to the Ministry of Defense (MoD) for the appointment of the new Navy chief. Thpermission was sought by the MoD in view of the Model Code of Conduct in force for the Lok Sabha elections.

Selection process of Indian Naval Chief:The Defense Ministry shortlists a list of at least three candidates. TheAppointments Committee of Cabinet (ACC) headed by the Prime Minister will select the most suitable person. Othermembers of the ACC: Defense Minister and Minister of Department of Personnel.

Note:TheIndian Naval Chief Admiral DK Joshis tenure would have normally ended in 2015, but he resigned in the wof submarine INS Sindhuratna accident on February, 2014. Vice AdmiralRK Dhowantook over as the Acting Chief tillregular Naval Chief is appointed.


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SC directed Centre to withdraw all orders making Aadhar mandatory for any service

March 25, 2014

TheSupreme Court of India has directed the Union Government towithdraw all orders that makes the Aadhaar carmandatory for availing any service and also directed the Unique Identification Authority of India (UIDAI) not to shareany information pertaining to an Aadhaar card holder with any government agency without the prior permission of the caholder.

The apex court stated that the project not only violates the right to privacy but the biometrics, which is thefoundation of the project, is an unreliable and untested technology.

Note:The Justice BS Chauhan bench gave their ruling on the petitions that challenged the Constitutional validity of Aadcard with those opposing the mega project saying it was not backed by any statute and compromises with national securit

Study: Cosmic inflation no longer theory

March 25, 2014

The scientists from theBackground Imaging of Cosmic Extragalactic Polarization 2 (BICEP2 )found out theprimorgravitational waves, the first direct evidence ofcosmic inflation theory. The data represent the first images of gravitatiwaves, or ripples in space-time. These waves have been described as the first tremors of the Big Bang. The data highliga deep connection between quantum mechanics and general relativity.

Purpose:To find a residual marker for inflation the idea that the cosmos experienced an exponential growth spurt ifirst trillionth, of a trillionth of a trillionth of a second.

About theBICEP2 study on cosmic inflation

Experimental Location:South Poles dry atmosphere(one of the driest and clearest locations on Earth, perfectobserving the faint microwaves from the Big Bang).

Studied the13.5 billion-year old residual energy of the Big Bang called the Cosmic Microwave Background(CMB).

Purpose:Todetect gravitational waves, as these waves are of purely gravitational energy capable of stretching squeezing the space-time continuum.

Gravitational waves squeeze space as they travel, and this squeezing produces a distinct pattern in the cosmicmicrowave background. Gravitational waves have a handedness, much like light waves, and can have left- andright-handed polarizations.

Detected a B-mode polarization signal i.e. considerably stronger than many cosmologists expected.

The swirlyB-mode patternis a unique signature of gravitational waves because of their handedness. This is thedirect image of gravitational waves across the primordial sky.

Scientists analyzed their data for more than three years in an effort to rule out any errors. They also considered

whether dust in our galaxy could produce the observed pattern, but the data suggest this is highly unlikely. Outcome:The study opened the door for physicists to explore a unified theory of nature in new light.

In other words, in theory, this swirling polarization pattern could only be created from gravitational waves. And that iswhat BICEP2 found.

Key terms:

Cosmic Microwave Background (CMB):A field of microwave radiation that permeates the universe. It consistelectric (E) andmagnetic (B) fields, called modes.

B-mode:A twisting or curl pattern in the polarized orientations of the ancient light

Cosmic inflation:The expansion of space in the early universe at a rate much faster than the speed of light.


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Cosmic inflationindicates that the universe expanded at many times the speed of light a fraction of a second justafter the Big Bang. These newly-discovered gravitational waves are ripples in space-time buried deep in the cosmicmicrowave background radiation, ancient light that permeated the known universe 380,000 years after the universe cinto existence.

Note:BICEP2is funded by the National Science Foundation (NSF). NSF also runs the South Pole Station where BICEP2and the other telescopes used in this work are located.

Aditya Puri committee recommendation: Give customers a free copy of credit profile

March 25, 2014

As per the Aditya Puri committee recommendations, customers should be given a free copy of their credit profile as it wohelp in promoting financial discipline among loan seekers.

Excerpts of the recommendations made by Puri committee

Headed byAditya Puri (Chairman of HDFC Bank).

Recently submitted report of the Committee to recommend Data Format for Furnishing of Credit Informat

to Credit Information Companies (CICs) to RBI. On issues relating tocredit informationviz. increasing its coverage, format of reports and best practices to befollowed by credit institutions, Credit Information Companies (CICs) and the RBI.

Provide customers with a free copy of their Credit Information Reports (CIRs) that would help to create awareneabout the need to have credit discipline, enable customers to correct their behaviour and improve their score well befthey plan to avail fresh credit of any kind.

Help to detect identity theft at an early stage.

Low usage of credit information by member institutions and other specified users needs to be addressed by requCICs to populate their databases with requisite credit information so that enquiries by specified users yield desiredinformation

Reduce the information asymmetry between lenders and borrowers and provides a fillip to the growth of crediespecially among the disadvantaged sections of society.

Use common data formats and a common data quality index that could assist credit institutions in determining thgaps in data.

CICs should have a common classification of credit scores so they are easier to understand and interpret.

Stuart Oliver won first edition of Tata T1 Prima Truck Racing Championship

March 25, 2014

The British racer,Mr. Stuart Oliverwon theTata T1 Prima Truck Racing Championship (Indias first truck racingchampionship) at the Buddha International Circuit, Greater Noida. Mr. Oliver representedCastrol Vecton teamin the raand took 30:26.848 minutes to complete 15 laps of the 2.5 km loop on the 5.1 km-long track.

About T1 Prima Truck Racing Championship

Two races:a 5-lap Sprint Race and a 15-lap Main Race.

Champion Award granted to the winning driver on the basis on combined points from both the races.

The Team Championship was awarded on the basis of the combined scores of the two drivers of the respective tefrom both the races.

The series used 12 heavily-modified Tata Prima trucks having 370 horsepower and reaching a top speed of 110km/hr.

Top three winners:Stuart Oliver (Castrol) , Mathew Summerfield (Cummins) and Dave Jenkins (TataTechnologies).


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Lal Bahadur Shastri: Lessons in Leadership- Anil Shastris book launched by Dalai La

March 25, 2014

The Tibetian spiritual leaderDalai Lama launched a book on the life of Former Prime Minister Lal Bahadur Shastri in NDelhi. The book titled Lal Bahadur Shastri: Lessons in Leadership is a biographical account co-authored by formerPMs son Anil Shastri and columnist Pavan Choudhary.

Lal Bahadur Shastri was the second Prime Minister of the Republic of India and a leader of the Indian NationalCongress party. He led his life with great simplicity and honesty and was a great source of inspiration for all thecountrymen.

About the bookLal Bahadur Shastri: Lessons in Leadership

Highlights the rich values and principles of Former PM Lal Bahadur Shastri which may have moral lessons formasses.

And also his exemplary leadership that helped the nation to overcome challenges viz. the acute food shortage, sounrest, hostile neighbors, etc.

Contains an account of how Former PM Lal Bahadur Shastri handled questions of governance and politics even

he dealt with crises viz. the 1965 war with Pakistan.

Note:The sloganJai Jawan, Jai Kisan(Honor the Soldier, Honor the Farmer) was given by our honorable PM LalBahadur Shastri.

Kirti Chakra gallantry awards 2014

March 25, 2014

The President of India, Mr. Pranab Mukherjee presented gallantry awards to defense personnel for their distinguishedservices at Rashtrapati Bhavan in New Delhi.

Kirti Chakra awards: Lt Commander Abhilash Tomy, Major Mahesh Kumar andWing Commander Darryl Castelino

Wing Commander Darryl Castelino: Awarded posthumously for his role in operation Rahat in Uttarakhand whhis chopper crashed with 20 personnel on board after he had helped in rescuing lives of more than 80 people.

Major Mahesh Kumar (Punjab Regiment):Awarded for his gallant acts in counter-insurgency operations inJammu and Kashmir where he killed 4 terrorists in three separate incidents.

Caption Abhilash Tomy:Awarded for completing world voyage on his sail ship non-stop and without any externsupport in 151 days.

Param Vishist seva medals (15):Lt Gen Ashok Singh of Infantary, Air Marshal Jaswinder Singh Chauhan of Air Forcand Vice Admiral Niranjan Kumar Nadella, etc.

Two Uttam Yudh seva medals and 10 Shaurya Chakra awards were also conferred to the defence personnel.

Note:Kirti Chakra is thesecond highest peace time gallantry award i.e. awarded for valour, courageous action orself-sacrifice away from the field of battle.

RBI: Unclaimed bank money to be used for depositors education

March 25, 2014

The Reserve Bank of India (RBI) has decided to utilize unclaimed bank deposits that are estimated at Rs. 3,650 crore for

education and awareness of depositors. The apex bank has announced the Depositor Education and Awareness Fund


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Scheme, 2014for this purpose.

What are unclaimed bank deposits that to be credited for fund?

The amounts to be credited to the Fund shall be the credit balance in any deposit account maintained with bankswhichhave not been operated upon for ten years or more, or any amount remaining unclaimed for ten years or m

Deposit accountsviz. savings bank deposit accounts, fixed or term deposit accounts, recurring deposit accounts current deposit accounts.

Any amount payable in foreign currency under an instrument or a transaction that has remained unclaimed for 10years or more.

In case of demand from a customer or depositor whose unclaimed amount/deposit had been transferred to the fubanks shall repay the customer/depositor, along with interest if applicable.

Note:RBI stated that the fund would be utilized for promotion of depositors interest by imparting necessary educationawareness about the banking sector.

Environmentalist Ms. Almitra Patel

March 24, 2014

Environmentalist Ms. Almitra Patel is the member of Supreme Court Committee for Solid Waste Management of India. has a very strong technical background and experience in several engineering fields, good para-medical knowledge and owide variety of pollution-related issues.

About Ms. Patels work in the field of environment & solid waste management practices

Honorary Tree Warden for Karnataka.

Founder Member of Swabhimana.

Fought a successful battle againstpoor solid waste management and filed a Public Interest Litigation (PIL) to fthe Union Government to put in place effective solid waste management rules in the country.

Designed and supervised construction of 41 low-cost homes, 22 poultry sheds and 2 large school buildings.

Designed and built a gender-friendly low-cost toilet to prevent blockage of sewers.

Convener, INTACH Waste Network.

Honorary Advisor / supporter / mentor of numerous students, entrepreneurs, individuals and NGOs in the fields Environment, Solid Waste Management and Waste Water Management.

Award(s):Economic TimesAchiever of the Year for Environment in Karnataka, Golden Jubilee Award forEnvironment from Bangalore City Corpn, Kempegowda Award-winner for Environment, etc.

Publications:Vacuum Concrete, Track Down Your Induction Furnace Lining Problems, Strategies for Slum Frcities : A Discussion Paper, etc.

Note: Municipal Solid Wastes (Management and Handling) Rules 2000 apply to every municipal authority that woube responsible for the collection, segregation, processing, transportation and disposal of solid waste.

GEAC revalidated 10-GM crops for field trails

March 24, 2014

TheGenetic Engineering Approval Committee(GEAC) revalidated the field trials for 10 varieties of Genetically Modi(GM) food crops viz. wheat, rice, maize, cotton, sorghum, etc.

The panel has allowed multi-national seed companies viz.Mahyco, BASF India and Monsanto Indiato go ahewith wider or phase-II field trials for these genetically modified crops.

The companies desiring to go for confined field trials will have to approved first by the respective State governm


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because agriculture is a State subject under Constitutional provision.

Revalidation of GM crops varieties was required due to the lapse of validity period on account of State governmnot allowing field trial.

The GEAC had given its clearance in those 10 cases way back in 2011 and 2012.

Functions of Genetic Engineering Approval Committee (GEAC)

To permit the use of GMOs and products thereof for commercial applications.

To adopt producers for restriction or prohibition, production, sale, import & use of GMOs both for research andapplications under EPA.

To approve for conduct of large scale field trials, evaluation of large scale field trial data and final approval forrelease of transgenic crop in to the environment.

To authorize large scale production and release of GMOs and productsthereof into the environment.

To authorize agencies or persons to have powers to take punitive actions under the EPA.

Note:The committee under the chairmanship of additional secretary in the Ministry of Environment and Forests (MoEF)Hem Pande did not take decision on any new cases in its meeting on Friday. It will meet again on April 25, 2014 to take acall on 70 fresh applications.

Ukraine crisis2014: EU signed pact with Ukraine as crisis with Russia continues

March 24, 2014

The European Union leaders signed an agreement with Ukraine, forging closer economic and political ties, as the crisis wRussia continues. The EU Association Agreement with Ukraine is designed to give the countrys interim leadership undePM Arseniy Yatsenyuk economic and political support.

Key elements of the pact:to foster core reforms and economic growth, co-operation in energy and environment protectisustainable development, to enhance foreign and security policy, respect for human rights, etc.

Govt. sold 9% stake in Axis Bank via SUUTI & raised Rs. 5500 croreMarch 24, 2014

The Central Government sold 42.26 million shares or 9 % of Axis Banks share capital through a trust fund,SpecifiedUndertaking of the Unit Trust of India (SUUTI), by a block dealin a price range of Rs.1,313-1,341 per share.

Purpose:To garner over Rs.5, 500 crore through the sale of 4.2 crore shares or 9 % stake.

The SUUTI hold 20.72 % stake in the bank, offloaded 9 % shareholding through multiple block deals (i.e. largeltook place on the Bombay Stock Exchange) and raised around Rs 5,603 crore by selling Axis Bank stake at Rs 1,334share.

After this stake sale, SUUTI will have a lock-in period of six-month, which means SUUTI cant sell stake in AxBank for six months after this block deal.

Bankers for the deal:J P Morgan, Citigroup Global Markets and JM Financial.

Block deal:A trade with a minimum quantity of 5 lakh shares or minimum value of Rs.5 crore executed through a singletransaction on this separate window of the stock exchange.

Outcome of Axis Bank stake sale held through SUUTI

The government raised Rs.5,557 crore i.e. nearly doubles the budgeted amount of Rs 3,000 crore.

LIC has emerged as the single largest investor picking up over 85 lakh shares for an estimated 1,116 crore.


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Other major buyers of the shares viz. Citigroup Global Markets Mauritius, Goldman Sachs Singapore, etc.

The stake sale in Axis Bank was a part of divestment programme of the government inFY14.It issecond biggestdivestment in FY14 by government after IOC stake sale on March 14, 2014. The government garnered Rs 5,340 crore bselling 5 % stake each in IOC to ONGC and Oil India at Rs 220 a share through off-market transaction.

Note: Axis Bankis the third largest private sector bank of India in which Government of India holds 20.7 % share byassets.The share sale is part of the governments campaign to raise revenues and meet its revised fiscal deficit target of 4

% of Gross Domestic Product (GDP)in the financial year ending on March 31, 2014.

RBI Deputy Governor KC Chakrabarty gave early resignation

March 24, 2014

Dr.Kamalesh Chandra Chakrabarty (62), theDeputy Governor of RBI, resigned from the post against his scheduledterm end, due to his personal reasons. His term was scheduled to end on June 30, 2014.

Mr. Chaktabarty is also the Chairman of the Bharatiya Reserve Bank Note Mudran and also heads the AdvisoryCommittee of College of Agricultural Banking (CAB).

About Mr. KC Chakrabarty

First RBI top official to quit before retirement in the last two decades.

Appointed as RBI Deputy Governor for a three-year term on June 15, 2009 and was subsequently given a two-yextension. His extended term was to come to end on June 15, 2014.

Known for his strong views on use ofCash Reserve Ratio (CRR) as a tool for monetary management, wasinvolved in verbal duel last year with the then SBI Chairman Pratip Chaudhuri, who wanted its abolition.

Current portfolio at RBI: Secretarys Department, Department of Banking Supervision, Financial Stability UHuman Resource Management Department, Rajbhasha Department, Department of Currency Management, DepositInsurance and Credit Guarantee Corporation, Customer Service Department and the Rural Planning and CreditDepartment.

RBIsnominee on the Financial Stability Board. (FSB- a global body established to develop and promoteimplementation of effective regulatory, supervisory and other financial sector policies).

Previous obs:Worked in Bank of Baroda, Chairman of the Indian Bank and then Punjab National Bank beforebeing appointed as Deputy Governor of RBI.

Gyan Correa bagged the Gollapudi Srinivas National Award 2013

March 24, 2014

The debutant director of Gujarati movie The Good Road,Mr. Gyan Correahas been selected for the 17th GollapudiSrinivas National Award 2013. The award would be presented to the winners on August 12, 2014 in Chennai.

Gollapudi Srinivas National Award

Instituted in memory of late Gollapudi Srinivasa, who died while directing his first film Prema Pustakam (Book Love) on August 12, 1992.

Cash Prize:Rs.1.50 lakh and a memento.

Note: Gujarati movie The Good Roadis the first ever Gujarati film selected to represent India at the Oscars and alsowon the Best Gujarati film award at the 60th National Film Award.


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Indian Journalist Mr. Shubranshu Choudhary won Google Digital Activism Award 2014 regional news service

March 24, 2014

Indian JournalistMr. Shubhranshu Choudharywon theGoogle Digital Activism Award 2014 in Barbican Centre inLondon for his work in using mobile phones to bring local news to remote Indian regions in their native language i.e. knobyCGNet Swara (Voice of Chhattisgarh).

CGNet Swara (Voice of Chhattisgarh)

A mobile-phone service that allows Indian citizens to report on local issues as well as listen to other reports in thlanguage using basic or feature phones.

Empowers tribals in Chhattisgarh and connects them to the world outside by using various digital means.

Voice-based portal freely accessible via mobile phone.

Launched as part of theKnight International Journalism Fellowships , a programme of the International Centrfor Journalists.

About Mr. Choudhary

A Knight International Journalism Fellow.

Founded a hyper local mobile news platformCGNet Swarain 2004 in Chhattisgarh state.

Previously, worked with BBC and Guardian and was also a reporter at the Hindi-daily Deshbandhu.

Note:The Google Digital Activism Award is a part of the Index Freedom of Expression Awards, organized byLondon-based international organisation Index on Censorship, recognises the bravest journalists, artists and activistsfrom around the world in four diverse categories: advocacy, arts, digital activism and journalism.

G D Birla award for scientific research 2013: Physicist Prof. Rajesh Gopakumar

March 24, 2014

Physicist Prof.Rajesh Gopakumar (46) to be honoured with23rd G D Birla award for scientific research for 2013. Apresent, Mr. Gopakumar working as a theoritical physicist at Harish Chandra Research Institute, Allahabad and has madeimportant contributions on topics in quantum field theory and string theory.

About G D Birla award for scientific research

Established:1991 K K Birla Foundation to recognise significant scientific research undertaken by Indian scientibelow the age of 50, working in India.

Cash Prize:Rs. 1.5 lakh and a citation.

Tata Power And Wipro Emerged As Most Ethical Companies in India

March 24, 2014

As per the study of Ethisphere Institute (USA), Wipro Limited andTata Power Companyemerged as the only Indiaentities in the 2014 list ofWorlds Most Ethical Companies.

2014 Worlds Most Ethical (WME) Companies

Assessment is based on the Ethisphere Institutes Ethics Quotient framework.Ethisphere that hasprepared a li144 companies of different sectors viz. Aerospace and Defense, Agriculture, Automotive, Banking, Computer Serv


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Chemicals, Electronics, etc.

Key categories that are taken into account while scoring the companies:Ethics and compliance programme(25%), reputation, leadership and innovation (20%), governance (10%), corporate citizenship and responsibility (25%and culture of ethics (20%).

Only threeIndian global firms that are headed by an India-origin individuals are in the list viz. SatyaNadella-led software giant Microsoft Corporation, Indra Nooyi-led beverages company PepsiCo and ShantanuNarayen-led software major Adobe Systems.

Indian Entities:Wipro LimitedandTata Power. (Wipro and Tata Steel also baggedthe 2012 and 2013 list of W

companies). Dell, Intel, Microsoft, Google, etc, are in the list.

WME honorees not only promote ethical business standards and practices internally, they exceed legal complianminimums and shape future industry standards by introducing best practices today.

Provides a comprehensive sampling of definitive criteria of core competencies, rather than all aspects of corporagovernance, risk, sustainability, compliance and ethics.

Note:The Ethisphere Institute is an independent center of research, best practices and thought leadership that promotespractices in corporate ethics and compliance and enables organizations to improve governance, mitigate risk and enhancrelationships with employees, business partners, investors and the broad regulatory community.

Scientists develop an artificial heartMarch 23, 2014

The scientists from theHarvard Medical School, Bostondeveloped an artificial heart that can beat in animals. Thisdiscovery could be helpful in repairing damaged hearts enabling millions of people around the world live longer, healthielives.

Steps taken by scientists to develop artificial heart that beats in animals

In order to develop the artificial heart similar to natural heart, scientists developed a new family of hydrogelusing a strethuman protein known astropoelastin.

Led byDr. Ali Khademhosseiniof the HarvardMedicalSchool.

Hydrogelare natural protein that are soft and contain a lot of water viz. human tissues. They can be tuned to atchemical, biological, mechanical and electrical properties which are essential for regeneration of any human tissue.

Though, existent hydrogel did not have the needed elasticity as the natural human heart has.

In order to overcome this, the scientists used a stretchy human protein called tropoelastin to give the newlydeveloped hydrogel the much needed resilience and strength that is important in keeping intact the elasticity of thenatural heart.

Afterdeveloping the hydrogel, then scientists developed the artificial cells.

To make sure the cells form the right structure, scientists used3-D printing and micro engineering techniquescreate patterns in the gels. These patterns coax the cells to grow the way the researchers want them to.

These newly developed hydrogel are micro patterned and elastic and can be further used as cardiac patches. This elastic natural hydrogel can be used for the regeneration of other tissues viz.blood vessels, skeletal muscleheart valves and vascularized skin.

Note: At present, the best treatment option for patients with major heart damage is an organ transplant.


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HSP90- New molecule discovered to kill malaria parasite without harming human redblood cells

March 23, 2014

The researchers from the University of Geneva discovered a new molecule HSP90 (Heat Shock Protein 90)that could beffective for the treatment of malaria. HSP90 has the potential to kill malaria parasite without harming human red bloodcells.

Malaria is a life-threatening blood disease caused by a parasite that is transmitted to humans by the Anopheles mosquIt is preventable and treatable disease.

Parasite species that cause malaria in humans:Plasmodium falciparum and Plasmodium vivax.

The most severe form of malaria is caused by infection withPlasmodium falciparum. The eradication of thisparasite is even more difficult as it becomes resistant to treatments.

About the newly-discovered molecule HSP90 (Heat Shock Protein 90)

Led byDidier Picardfrom the University of Geneva (UNIGE), Switzerland.

Purpose:To determine if there was a difference between the human form and the parasitic form of HSP90 that cexploit for therapeutic purposes.

Usedultra-sophisticated computerized modelling toolsto characterise the various tri-dimensional conformatiof the parasites HSP90.

A chaperone protein that assists other proteins to fold properly, stabilizes proteins against heat stress and aids inprotein degradation.

Stabilizes a number of proteins required for tumor growth (thats why, Hsp90 inhibitors are investigated asanti-cancer drugs).

Plays acentral role for several factors involved in the life cycle , survival and resistance of the pathogen.

Participates in thematuration of the pathogen in human red blood cells.

During high fever protects parasitic proteins in theplasmodium.

Capable of binding inhibitory substances, completely absent in its human alter ego. Capable to kill the parasites viz.Plasmodium falciparum, etc,without affecting the infected red blood cells.

Note:The study published in theJournal of Medicinal Chemistry.

5 Indian languages reinstated in S. African schools curriculum

March 23, 2014

The South African government reestablished the five Indian languages as official subjects in state-run schools, which weremoved from the official curriculum in South African state schools in 1994.

Five Indian Languages that are reinstated:Hindi, Tamil, Gujarati, Telugu and Urdu.

Initially, these languages will be offered as an optional third language for learners only inKwaZulu-Natal provwhere about 70% of the Indian-origin population resides.

The classes of these languages will be recognized as official subjects up to matric level (the final year of theschooling system in the country).

Though, the subjects will only be offered at schools where the number of learners makes it a viable option to hirespecialist teachers in the language concerned.

Note:The five Indian languages Hindi, Tamil, Gujarati, Telugu and Urdu alongside Arabic are referred as Easternlanguages.


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U.S. India Energy Dialogue 2014 to advance clean energy access: Promoting EnergyAccess through Clean Energy (PEACE)

March 23, 2014

India and the USA signed a Memorandum of Understan

current affairs march 2014

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