Gist of current affairs from November 2013 Megazines.

                  Gist of current affairs from November 2013 Megazines. 

• Australia’s new prime minister Tony Abott (Conservative party) sworn in on 18 sept. 2013, Defeating former PM Kevin Rudd (Labour party), who took over from Ms. Julia Gilard  early this year.
• Thomas batch (Germany)  elected ninth president of International Olympic Committee, who replaced Jacques Rogge (Belgium).
• Deepak Sadhu , first women Chief information commissioner in place of Satyanand Mishra.
• Nishi vasudev will be first woman chief of  any PSU - HPCL from Feb. 2014.
• Indira Gandhi prize for peace, disarmament and development 2012 goes to Liberian president Ellen Johnson Sirleaf.  Earlier she had also shred Nobel peace prize with Tawakkul kamran of yemen republic.
• Malala Yusufzai was given international Children preace prize 2013.
• National Sports award includes 1) Rajeev Gandhi Khel ratna award 2) Arjun awards 3) Dronacharya award 4) Dhyanchand award 5) Tenzing norgay national adventure award 6) Rahtriya khel protsahan puruskar 7) Maulana Abdul kalam azad trophy.
• Nina Davulury- First Indian origin American to win Miss America award.
• Pandit Ragunath panigrahi ,  famous Classical singer and Music director from Orissa passes away.
• Bank of Beijing opened china’s first direct bank. Direct banking is kind of branch less banking , which provides all its products through internet, telephones and ATMs. By eliminating the costs associated with bank branches, direct banks can make significant savings which they may pass on to clients via higher interest rates or lower service charges. One of the world's first fully functional direct banks was First Direct, which launched in the United Kingdom on October 1, 1989. The initial success of internet banking services provided by traditional banks led to the development of internet-only banks or "virtual banks". Many such banks are functioning in US and  European countries.
• ASEAN defence ministers meet in Brunei on 29th august 2013. India is not a member of ASEAN. Association of South east asian  nations. Members Indonesia, Malaysia, Philippines, Singapore and Thailand. Brunei Darussalam then joined on 7 January 1984, Viet Nam on 28 July 1995, Lao PDR and Myanmar on 23 July 1997, and Cambodia on 30 April 1999, making up what is today the ten Member States of ASEAN. Headquarter Indonesia Jakarta
• G-20 summit 2013 held in Russia on 5-6 sept. Next summit in Brisbane in Nov. 2014. There is no headquarter of this summit. Every year chair moves to one of its member countries. It was decided to create a common database on tax related information  of multinational companies, so that tax evasion can be controlled.
• DTAA Double taxation avoidance agreement signed between India and Latvia.
• India japan agreements – 1) Joint research initiatives in the field of Applied science. 2) cooperation in film and animation techniques 3) Currency SWAP agreement increased from 15 billion to 50 billion $ till Dec 2015. ( Signed during G-20 summit). Currency swap is an arrangement between two countries to accept each others currency  for trading goods and services. This relieves them of their dependencies on dollar as mediating currency and help stabilize their own currencies.
• Food security bill (not the ordinance, which had already been approved by the president and promulgated on 4^th July) now passed by Lok sabha(26 aug) and rajya sabha (2 sept) and finally signed by president on 10 sept.  For details refer news diary dated 4^th (July).      
• Govt. sanctioned 158 EMRS Eklavya model residential schools for tribal students . objective of EMRS is to provide quality middle and high level education to ST students in remote areas.
• Ahinsa Messenger program  initiative of Ministry of women and child development to create awareness about  violence against women and to assist the victimized women in getting justice. Amhinsa messengers will be appointed across country . program will be implemented through all anganwadi Kendra, all panchayati raj institution , sabla girls and poorna shakti kendras. National mission for empowerment of women will train these Ahinsa messengers.
• India third largest internet user after china and US.
• Land acquisition , rehabilitation and resettlement bill 2011 Passed. HIGHLIGHTS     

1)      Minimum 70% of the landowners consent for PPP projects and 80 % for Private sector projects will be required for land acquisition.

2)      Compensation of around 4 times of market value in rural area and 2 times of the market value in Urban areas will be given to farmers/landowners.

3)      Several other benefits like land for employment and residential purpose apart from compensation.

4)      Wakf land will not be acquired.

5)      In case the land acquired is not utilized for the stated purpose within time frame , it would be returned to owner  or state land bank.

• Maharashtra has passed  Anti black magic and superstition bill after the murder of a social activist Narendra Dabholkar in Pune , who was fighting against superstitions and black magic practices.
• India’s first quarter GDP dropped to 4.4% April to June 2013 because of poor performance of manufacturing and mining sector. Last year in the same period it was 5.4% .
• First monetary policy review by Shri Raghuram rajan : repo rate increase by .25% to 7.5, MSF and Bank rate down by .75 % to 9.5% CRR-SLR remained unchanged , however daily maintenance limit of CRR was brought down from 99 to 95%
• RBI liberalized norms for banks to open new branches, Banks can open branches in tier 1 centre (population above one lacs) without obtaining permission from RBI , if 25% branches are correspondingly opened in tier 5 and 6 centres in a particular year. At the same time tier 1 branches number should not exceed total branches opened in tier 2 to 6 areas.
• TARC Tax Administration reform commission constituted on 26 august 2013 under the chairman ship of tax expert Parthsarathi Shome to review tax laws and suggest ways for a stable non adversarial tax administration. Seven member commission with a tenure of 18 months.
• Tata group signed pact with Singapore airlines  to form a new airline company in India. Tata 51% and SA 49% share.
• Microsoft to buy Nokia in 5.44 billion Euro.
• RBI introduced forex swap window to oil companies. Decided to meet entire daily dollar demand of  oil companies like IOC, BPCL, HPCL to reduce pressure on foreign exchange market . This will substantially support the falling rupee against dollar.
• RBI offered a concessional currency swap to banks for their FCNR foreign currency non resident deposits at  3% . Normally swaps available in open market charge around 7 % , which discourage the banks to take foreign currency deposits. This again is an step to boost inward flow of dollar in view of  falling rupee. This facility will remain available till 30 november 2013.
• Committee to revise and strengthen monetary policy framework by making it transparent and predictable ,under the chairmanship of Dr. Urjit Patel Dy. Governor.
• PFRDA BILL 2011 passed.  Highlights 1) 26% FDI allowed in pension fund management  2) PFRD Authority provided statutory status and powers. 3) The subscribers can choose fund manager as well as scheme packages to suit their needs. 4) Funds managers can partly  invest in shares if pension beneficiary approves the risk plan.
• Economic outlook 2013-14 . released by PMEAC Prime minister economic advisory council (Headed by C rangarajan) has lowered the growth forecase to 5.3% from 6.4 projected earlier.
• Jubin Mehta , western classical composer , awarded Tagore prize for cultural harmony. Last year it was Late Ravi shankar who got this award.
• RBI banned 0% interest financing schemes of banks .