1. 70th foundation day of the Council of Scientific and Industrial Research (CSIR) celebrated
Addressing the 70th foundation day of the Council of Scientific and Industrial Research (CSIR), Prime Minister Manmohan Singh today urged Scientists to think in terms of the common man and evolve solutions to the modern day challenges faced by the nation.
2. PM gives away awards to scientists
11 scientists, including mathematician Mahan MJ and physicist Shiraz Minwalla, were today conferred with the prestigious Shanti Swarup Bhatnagar Prize for 2011 by Prime Minister Manmohan Singh.
3. G4 pushes for UNSC reforms
India and its three partners —Brazil, Germany and Japan, today pushing for permanent seats for themselves in the United Nations Security Council (UNSC) have decided to provide greater political ballast to their efforts.In a meeting on the sidelines of the ongoing 67th United Nations General Assembly session, Foreign Ministers of the four countries came out with a joint statement expressing their determination to inject greater political momentum into the reform process which could include a high-level meeting on Security Council reform.
4. SEBI’s wide-ranging reforms for mutual fund sector
Market regulator Securities and Exchange Board of India has notified wide-ranging reforms for mutual fund sector, which would provide incentives to fund houses for expanding to small cities.
SEBI said in a notification today that the changes, which would come into effect from next month, would require fund houses to make half-yearly financial results within one month of the end of every six-month period.
5.China commissions first aircraft carrier Liaoning
China on Tuesday commissioned its first aircraft carrier Liaoning by the People’s Liberation Army Navy (PLAN) in the port city of Dalian — the capital of the north-eastern province after which the carrier is named in an event.
NOTE:- It is 300 metre-long and a refurbished and upgraded version of the Soviet carrier Varyag which China purchased from Ukraine, came after years of sea trials and tests to fit the carrier with weapons and engines.
6.Service tax on AC and first class rail fares from Oct.1
Service tax will be levied on high-end passenger classes, freight and auxiliary services rendered at railway stations from October 1.
The decision was taken today at a meeting between Railway Minister C.P. Joshi and Finance Minister P. Chidambaram.
Fares of air-conditioned classes will go up by 3.708 per cent and that of first class by 7 per cent after permissible abatements.
Similarly, freight charges will go up by 3.708 per cent, while users of auxiliary services at stations will have to bear the burden of 12.36 per cent.
7.Court’s ‘no’ to review ruling on inter-linking of rivers
The Supreme Court today declined to entertain a petition filed by the Central Ground Water Authority (CGWA) seeking review of the inter-linking of rivers (ILR) judgment on the ground that the directions in it amounted to judicial overreach. It also declined permission to 21 eminent citizens to file a similar petition.
8.NEET for PG medical, dental courses
National Board of Examination (NBE) will conduct the National Eligibility-cum-Entrance Test (NEET) for PG medical and dental courses next academic year onward for making the admission process transparent and streamline admission to these courses.
The test will be conducted for the MD, MS and PG diploma courses offered by every medical college coming under the ambit of the Medical Council of India. It will be held online from November 23 to December 6, 2012 at various centres in 34 cities.
9.Prasar Bharati to leverage new assets to earn Rs. 400 cr. a year
With the Cabinet deciding to spare Prasar Bharati the crippling double burden of multiple loans and a huge salary bill, the public broadcaster is going all out on an aggressive marketing drive to leverage its newly transferred assets in order to rake in the needed additional revenue of Rs. 400 crore per year.
Earlier this month, the Cabinet approved a proposal to restructure Prasar Bharati’s finances. Loans, interests and fines to the tune of Rs. 12,071-crore were waived or converted into grants.
10.Prasar Bharati Board decided to approach the Competition Commission of India with a complaint against TAM(India’s television audience ratings).
The Prasar Bharati board, which met today decided to approach the Competition Commission of India(CCI) with a complaint against TAM India’s television audience ratings.
It complained that TAM, which has a monopoly in this field does not give sufficient representation to Doordarshan’s unmatched reach, especially in rural India. The resultant skew in ratings adversely affects its advertising revenue.
11.Residency certificate a must for foreign investors to get tax benefit
Govt. today mandated that from April 1, 2013, all foreign investors desirous of claiming benefits under the Double Taxation Avoidance Agreements (DTAAs) will have to produce Tax Residency Certificates (TRC) of their base country in which they are located.
12.MSE to set up own trading platform
Madras Stock Exchange (MSE), which has completed its 75 years of operations, is working on a turnaround plan to reactivate its trading activities.
MSE is in the process of setting up its own trading platform. It had already procured the requisite hardware and software for this purpose and had set up disaster recovery sites. The new trading platform would be operational after getting the approval from the Securities and Exchange Board of India.
13. UBI joins CSE to offer Internet-based trading
United Bank of India is planning to collaborate with the Calcutta Stock Exchange (CSE) to offer an Internet-based equity trading platform for customers of both organisations.
A memorandum of understanding was signed between the two outfits and the product is expected to be ready next month.
14.CRR has merits, asserts Gokarn
Reserve Bank of India (RBI) Deputy Governor Subir Gokarn, on Tuesday, said that the Cash Reserve Ratio (CRR) had multiple attributes. It clearly had merits from a regulatory point of view, he added. Dr. Gokarn’s statement came a day after Chairman of the country’s largest lender, State Bank of India (SBI) Pratip Chaudhuri, reiterated that the cut in CRR was the most effective instrument to cut interest rates.
NOTE:-Dr. Gokarn is in charge of Monetary Policy.
15.SEBI chief appointment under SC's scrutiny
The appointment of U K Sinha as SEBI chairman came under judicial scanner today with the Supreme Court asking the government to respond to a plea alleging various irregularities in his appointment.
16.UK's Cairn Energy sells 8% stake in India venture for $910 mn
UK's Cairn Energy plc said it has sold 8 per cent stake in Cairn India for a net realisation of about USD 910 million.
17.Centre approves Rs 1.9 lakh crore debt reijg of discoms
Pushing new reforms in the power sector, the Centre has approved restructuring of Rs 1.9 lakh crore debt of State Electricity Boards in a move to turnaround the near-bankrupt power distribution companies.
18.Court orders former President Nasheed be confined to Male
A Maldivian court has slapped a travel ban on former president Mohamed Nasheed pending a hearing over allegations of abuse of power during his tenure.
NOTE:- The notice was issued in connection with an upcoming hearing of a case concerning his detention of Chief Judge Abdulla Mohamed while in office.
19.IRDA's draft proposal for insurance cover to BPL families
Regulator IRDA has come with a draft proposal to expand the reach of insurance cover to Below Poverty Line (BPL) families in the next five years.
20.SEBI fears round-tripping through overseas PCCs
Capital market watchdog SEBI is looking into the possible use of PCCs from places such as Mauritius, Cayman Islands and Seychelles for use of round-tripping of Indians' money back into the capital market here in the form of overseas funds.
21.Women's WT20 starts today, India open campaign tomorrow
Away from the hype surrounding the men's tournament, the Women's World Twenty20 will start in Galle but India's campaign will kick off a day later when they take on Australia tomorrow.
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