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United Nations Conference on Trade and Development (UNCTAD):

Established in - 1964
Headquarters - Geneva, Switzerland
United Nation Conference on Trade and development (UNCTAD) was established in 1964 to maximize the activity trade and development between developing countries on an equitable basis. Presently 193 countries become the member of UNCTAD. Headquarter of UNCTAD is on Geneva, Switzerland; where 400 workers works for UNCTAD.

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Organisation for Economic Co-operation and Development:

Established in - 16th April, 1948 (As OEEC) / 30th September 1961(As OECD)
Organisation for Economic co-operation and development made in 16th April, 1948 as OEEc and become OECD on 30th September. 34 most developed countries are the member of this organisation. Starting from England, UK, France, Germany there are countries like Australia, Newzeland, Japan involve in this organisation. The main aim of OECD is to simulate economic progress and world trade.

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United Nations Educational, Scientific & Cultural Organisation (UNESCO):

Established in - 16th November, 1945
Headquarters - Paris, France
UNESCO made in 1945, to maintain peace and security worldwide through Education, Science and Culture. It also involves with the protection of culture and natural heritage places of the whole world.

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World Anti-Doping Agency (WADA):

Established in - 10th November, 1999
Headquarters - Montreal, Quebec
This organisation made in 1999 in Switzerland to stop drugs in sports.

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General Agreement on Tariffs and Trade (GATT):

Started 1948, lasted until 1994.
After the failure of International trade organisation (ITO), GATT was came to break all the barriers on International Trade and Tariffs. There were 23 countries signed in GATT. Australia, Belgium, Brasil, Myanamar, Canada, Srilanka, Chili, China, Cuba, Check republic, france, India, Lebanan, Luxembarg, Netherlands, Newzeland, Norway, Pakistan, South Rodesia, Siria, South Africa, UK, US. The working of GATT getting slow after the commencement of WTO on 1st Jan, 1995.

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International Union of Pure and Applied Chemistry (IUPAC):

Established in - 1918
IUPAC established in 1919 for developing standard naming for chemical elements and compounds worldwide. National chemical societies of each state are the member of IUPAC.

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United Nations Children's Fund (UNICEF):

Established in - 11th December 1946
Headquarters - New York, USA
UNICEF was created to provide emergency food and health care services to children of those countries, devastated by world war II. Headquarter of UNESCO is in Newyork. All the services are provided to UNESCO from Copenhagen. The logo of UNESCO is shown on the shirts of the football team FC Barcelona.

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World Wide Fund for Nature (WWF):

Established in - September, 1961
Headquarters - Gland, Vaud, Switzerland
WWF made for conservation, research and restoration of environment which working within more than 100 countries.

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World Trade Organisation (WTO):

Established in - 1st January, 1995
Headquarters - Centre william Rappard, Geneva, Switzerland
WTO made by replacing GATT (General Agreement on Tariff and Trade). It deals with the trade between member countries.

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List of World Organization and their Headquarters

Organizations	Headquarter	About
UNCTAD	Geneva	United Nations Conference on Trade and Development
UNO	New York	United Nation Organizations
UNESCO	Paris
UNICEF	New York	United Nations International Children’s Emergency Fund
WHO	Geneva	World Health Organisation
UNFPA	New York
SAARC	Kathmandu
OPEC	Vienna, Austria	Organization of the Petroleum Exporting Countries
ASEAN	Jakarta, Indonesia	Association of South East Nations
World Bank	Washington D.C
IBRD	Washington	International Bank for Reconstruction and Development
ADB	Manila	Asian Development Bank
ADB	Abidjan, C te d’Ivoire	African Development Bank
IMF	Washington DC	International Monetory Fund
WTO	Geneva, Switzerland	World Trade Organisation
NATO	Brussels, Belgium	North Atlantic Treaty Organization
International Court Of Justice	The Hague, Netherland
IAEA	Vienna	International Atomic Energy Agency
IDA	Washington	International Development Association
IFC	Washington	International Finance Corporation
UNIDO	Vienna	United Nations Industrial Development Organization
International Committee of the Red Cross	Geneva
APEC	Singapore	Asia-Pacific Economic Cooperation
ICAO	Montreal	International Civil Aviation Organization
International Maritime Organisation	London
FAO	Rome, France	Food and Agricultural Organisation
World Meteorological Organisation	Geneva
Amnesty International	London
IFAD	Rome	International Fund for Agricultural Development
ILO	Geneva	International Labor Organization
Commonwealth of Nations	London
UPU	Berne	Universal Postal Union
ITU	Geneva	International Telecommunications Union
IMO	London	International Maritime Organization
WIPO	Geneva	World Intellectual Property Organization
ACU	Teheran	Asian Clearing Union

Questions on clocks (or even calendars) are not really frequent in CAT these days. They used to be really popular few years ago. Having said that, it is always better to understand some of the basic principles and the types of problems that get asked. They might come in handy in case of other exams like CMAT, MAT, SNAP, etc.
Clock problems can be broadly classified in two categories:

a) Problems on angles
b) Problems on incorrect clocks

Problems on angles

Before we actually start solving problems on angles, we need to get couple of basic facts clear:

· Speed of the hour hand = 0.5 degrees per minute (dpm) {The hour hand completes a full circle or 360 degrees in 12 hours or 720 minutes}

· Speed of the minute hand = 6 dpm {The minute hand completes a full circle in 60 minutes}

· At ‘n’ o’ clock, the angle of the hour hand from the vertical is 30n
The questions based upon these could be of the following types
Example 1: What is the angle between the hands of the clock at 7:20
At 7 o’ clock, the hour hand is at 210 degrees from the vertical.
In 20 minutes,
Hour hand = 210 + 20*(0.5) = 210 + 10 = 220 {The hour hand moves at 0.5 dpm}
Minute hand = 20*(6) = 120 {The minute hand moves at 6 dpm}
Difference or angle between the hands = 220 – 120 = 100 degrees
Example 2: At what time do the hands of the clock meet between 7:00 and 8:00
Ans: At 7 o’ clock, the hour hand is at 210 degrees from the vertical.
In ‘t’ minutes
Hour hand = 210 + 0.5t
Minute hand = 6t
They should be meeting each other, so
210 + 0.5t = 6t

=> t = 210/5.5 = 420/11= 38 minutes 2/11th minute
Hands of the clock meet at 7 : 38 : 2/11th
Example 3: At what time do the hands of a clock between 7:00 and 8:00 form 90 degrees?
Ans: At 7 o’ clock, the hour hand is at 210 degrees from the vertical.
In ‘t’ minutes
Hour hand = 210 + 0.5t
Minute hand = 6t
The difference between them should be 90 degrees. Please note that it can be both before the meeting or after the meeting. You will get two answers in this case, one when hour hand is ahead and the other one when the minute hand is ahead.
Case 1: 210 + 0.5t – 6t = 90

=> 5.5t = 120

=> t = 240/11 = 21 minutes 9/11th of a minute
Case 2: 6t – (210 + 0.5t) = 90

=> 5.5t = 300

=> t = 600/11 = 54 minutes 6/11th of a minute
So, the hands of the clock are at 90 degrees at the following timings:

7 : 21 : 9/11th and 7 : 54 : 6/11th
Some other results which might be useful:

· Hands of a clock meet at a gap of 65 5/11 minutes.

· The meetings take place at 12:00:00, 1:05:5/11, 2:10:10/11 … and so on.

· Hands of a clock meet 11 times in 12 hours and 22 times in a day.

· Hands of a clock are perfectly opposite to each other (i.e. 180 degrees) 11 times in 12 hours and 22 times a day. {Same as above}

· Any other angle is made 22 times in 12 hours and 44 times in a day
Problems on incorrect clocks

Such sort of problems arise when a clock runs faster or slower than expected pace. When solving these problems it is best to keep track of the correct clock.

Example 4: A watch gains 5 seconds in 3 minutes and was set right at 8 AM. What time will it show at 10 PM on the same day?
Ans: The watch gains 5 seconds in 3 minutes => 100 seconds in 1 hour.
From 8 AM to 10 PM on the same day, time passed is 14 hours.
In 14 hours, the watch would have gained 1400 seconds or 23 minutes 20 seconds.
So, when the correct time is 10 PM, the watch would show 10 : 23 : 20 PM

Example 5: A watch gains 5 seconds in 3 minutes and was set right at 8 AM. If it shows 5:15 in the afternoon on the same day, what is the correct time?

Ans: The watch gains 5 seconds in 3 minutes => 1 minute in 36 minutes
From 8 AM to 5:15, the incorrect watch has moved 9 hours and 15 minutes = 555 minutes.
When the incorrect watch moves for 37 minutes, correct watch moves for 36 minutes.

=> When the incorrect watch moves for 1 minute, correct watch moves for 36/37 minutes
=> When the incorrect watch moves for 555 minutes, correct watch moves for (36/37)*555 = 36*15 minutes = 9 hours
=> 9 hours from 8 AM is 5 PM.
=> The correct time is 5 PM.

I am sure you would have heard the proverb that even a broken clock is right twice a day. However, a clock which gains or loses a few minutes might not be right twice a day or even once a day. It would be right when it had gained / lost exactly 12 hours.

Example 6: A watch loses 5 minutes every hour and was set right at 8 AM on a Monday. When will it show the correct time again?

Ans: For the watch to show the correct time again, it should lose 12 hours.
It loses 5 minutes in 1 hour
=> It loses 1 minute in 12 minutes
=> It will lose 12 hours (or 720 minutes) in 720*12 minutes = 144 hours = 6 days
=> It will show the correct time again at 8 AM on Sunday.

1. For which among the following is not a true fruit?  
A.  Apple
B.  Date
C.  Grape
D.  Plum






2. Which of the following is least infectious ?  
A. leprosy
B. hepatitis
C. tuberculosis
D. conjunctivitis






3. Which of the following is not a mosquito borne disease?  
A.  Dengue fever
B.  Malaria
C.  Sleeping sickness
D.  Filariasis





4. In certain amino acids, which one of the following elements is found in addition to carbon , hydrogen, nitrogen and oxygen?  
A.  Phosphorus
B.  Zinc
C.  Calcium
D.  Sulphur





5. Among the following elements, which one is essential for the transmission of impulses in the nerve fibre?  
A.  Calcium
B.  Iron
C.  Sodium
D.  Zinc



6. The vitamin which is very liable and easily destroyed during cooking as well as storage is  
A.  Vitamin A
B.  Vitaminb6
C.  Vitamin C
D.  Vitamin K



7. The compound used in anti-malarial drug is  
A.  Aspirin
B.  Neoprene
C.  Isoprene
D.  Chloroquin







8. Which of the following is a skin disease?  
A.  Anaemia
B.  Pellagra
C.  Osteomalacia
D.  Rickets





9. The richest source of vitamin D is  
A.  Cod liver oil
B.  Spinach
C.  Milk
D.  Cheese



10. Which of the following tests helps in diagnosis of cancer?  
A.  X-ray
B.  Urine test
C.  Blood test
D.  Biopsy test

What is Literature?

• Literature is the written work of human beings.
• Writing books, prose, poetry are all example of literary work.
• At basictell you can read biographies of famous persons, access different kinds of books or poems based on romance, nature, fantasy, joy, imagination, desires, erotica etc.

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Indian Literature

1	Ozone layer in the upper atmosphere is due to the reactions of
	A.	carbon dioxide and oxygen
	B.	oxygen and ultraviolet rays
	C.	infra-red rays and ultraviolet rays
	D.	carbon dioxide and layers of atmosphere

5	The splitting of different colours of light in a prism is
	A.	Refraction of light
	B.	Diffraction of light
	C.	Dispersion of light
	D.	Reflection of light

• Bimstec secretariat in Dhaka
  Prime Minister Hasina inaugurated its first secretariat set up in Dhaka on 13th September. The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is an alliance of South and South East Asian countries. Bangladesh, India, Myanmar, Sri Lanka, Thailand, Bhutan and Nepal are its members. The prime minister urged for more BIMSTEC initiatives in agriculture.
  BIMSTEC is an abbreviation form, its full form is Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC). It formed on 6 June 1997. The name was given in the first Summit on 31 July 2004. BIMSTEC has Fourteen priority sectors cover all areas of cooperation. Six priority sectors of cooperation were identified at the 2nd Ministerial Meeting in Dhaka on 19 November 1998.
  
• Bangladesh: Law against child marriage
  Bangladesh officials on 15th September approved the Child Marriage Prevention Act of 2014, a law that sets a two year jail term for any person who marries a girl under the age of 18. The act sets the minimum age of marriage for men at 21 and and for women at 18.
  Ukraine ratifies landmark EU pact
  Ukrainian lawmakers on 16th September ratified a landmark EU pact and adopted laws granting self-rule to the east in crucial votes that will shape the future of the splintered former Soviet state. But Russia signalled it had no intention of backing down in the most serious East-West standoff since the Cold War, announcing it plans to boost its troop presence in annexed Crimea.
  The European and Ukrainian parliaments held simultaneous votes to approve the political and economic association agreement whose rejection by the former government triggered the country's worst crisis since independence in 1991.
  Lawmakers in Kiev also voted to grant self-rule in eastern regions under the control of pro-Russian rebels and offer amnesty to fighters under a peace plan drawn up 11 days ago to halt the bloody five-month conflict. Poroshenko said the adoption of the 1,200-page EU deal was Ukraine's first step towards membership of the 28-nation bloc.
  Back ground
  The rejection of the broad EU pact by Kremlin-backed president Viktor Yanukovych in November set off the bloody chain of events that led to his ouster in February, Russia's subsequent seizure of Crimea and the unleashing of the revolt in the east. The conflict in the Lugansk and Donetsk regions has now killed almost 2,900 people and forced at least 600,000 from their homes, according to UN figures.
  Russia's denials of involvement have not spared it from waves of punishing Western sanctions that have left President Vladimir Putin more isolated than at any stage of his 15-year rule.
  NATO earlier this month also unveiled plans to boost its forces in eastern Europe in response to Russia's "aggression". Russia already has tens of thousands of soldiers in Crimea but denies NATO charges it sent more than 1,000 elite troops into eastern Ukraine to help the militias launch a surprise counter-offensive in August.
  The truce signed on September 5 has offered the first significant glimmer of hope that the crisis may be abating, although up to 30 civilians and servicemen have since been killed, most in shelling around the rebel stronghold of Donetsk.
  Under the terms of the truce, lawmakers adopted "special status" legislation that offers three years of limited self-rule to the coal and steel belt known as the Donbass that generates a quarter of Ukraine's exports.
  The legislation calls for December polls in Donetsk and Lugansk and allows local legislatures to set up their own police forces and name judges and prosectors. Crucially, it also guarantees the right for Russian to be used in all state institutions -- a particularly sensitive issue in the mainly Russian-speaking regions.
  Another law also grants amnesty to both the insurgents and Ukrainian government forces over their actions during the conflict, although rights groups have alleged abuses by both sides that could be considered war crimes.
  
• World’s wild tiger population to be counted by 2016
  Thirteen countries with wild tiger populations agreed on 16th September to take part in a global count to establish how many of the critically endangered big cats are left and improve policies to protect them. The pledge came at a global conference in the Bangladeshi capital Dhaka where more than 140 people have converged for three days to discuss actions to save the tiger.
  The world's wild tiger population fell to little over 3,200 in 2010 from 100,000 only a century ago and the International Union for the Conservation of Nature has listed the animal as critically endangered. Poaching, encroachment on its habitat and the illegal wildlife trade are blamed for the declining numbers.
  In 2010 the 13 countries with tiger populations -- Bangladesh, Bhutan, China, Cambodia, India, Indonesia, Laos, Malaysia, Myanmar, Nepal, Russia, Thailand and Vietnam -- launched a plan to double their numbers by 2022.
  But poaching continues to be a major problem. Statistics from TRAFFIC, the wildlife trade monitoring network, show that at least 1,590 tigers -- an average of two a week -- were seized between January 2000 and April 2014.
  Bangladesh has come under fire for setting up a giant coal-fired power plant on the edge of the Sundarbans mangrove forest, home to one of the largest tiger populations. Experts fear the 1,320-megawatt power plant being built just 14 kilometres (nine miles) from the Sundarbans will pollute the water of the world's largest mangrove forest, jeopardising its delicate biodiversity and threatening the tiger population.
  
• U.S. House approval Obama’s Syria plan
  The US House of Representatives has approved President Barack Obama's plan to train and arm the moderate Syrian opposition taking on Islamic State. The vote passed by a large majority in the Republican-controlled House and is expected to be adopted in the Senate.
  The endorsement came after President Obama repeated that he would not be committing American combat troops to ground operations in Iraq. The US has undertaken 174 air strikes against IS in Iraq since mid-August. The jihadist group controls large areas of Syria and northern Iraq.
  In the most recent air strikes on 16th and 17th September, US forces destroyed two IS armed vehicles north-west of Irbil and several units south-west of Baghdad, according to US Central Command (Centcom). Mr Obama's new strategy plans similar attacks in Syria and calls on a coalition of 40 countries to confront the militant group.
  Convinced International community
  US Secretary of State John Kerry has completed a tour of the Middle East, trying to enlist allies in the fight against Islamic State (IS). During his campaign to recruit allies, he has managed to win the support of 10 Arab countries including Saudi Arabia and Qatar.
  The reasons for the toughness of US
  The scale and scope of Islamic State (IS) marks it out from other jihadist groupings insofar as it already controls a significant swathe of territory across Syria and Iraq. IS has captured huge quantities of weaponry and has significant financial resources, giving it more of the character of a quasi-state rather than a cell-like terrorist organisation.
  With its ambition to establish an Islamic caliphate expanding from the areas it already controls, it represents a clear threat to US allies in the region and, given the significant numbers of foreign fighters in its ranks, potentially to Western countries as well.
  Support that US got
  US Secretary of State John Kerry has received strong backing - at least on paper - from pro-Western states in the region. A declaration signed noted a range of measures that will be required - not just military action: controlling borders, clamping down on the funding of IS, efforts to counter its ideology and to constrain foreign fighters from joining it.
  A number of Washington's Western allies are also stepping up to the mark, with Australia announcing that it will send 600 personnel, initially to the United Arab Emirates. (This is believed to include Special Forces soldiers to help train Iraqi and Kurdish units along with six FA-18 Super Hornet fighters, tankers and other support aircraft.)
  All the signs from London are that Britain will join in although it is unclear when an announcement on military action might come and whether it would encompass just Iraq or extend to Syria, too.
  
• Scotland to remain in UK
  Scotland has voted to stay in the United Kingdom after voters decisively rejected independence. With the results in from all 32 council areas, the "No" side won with 2,001,926 votes over 1,617,989 for "Yes". The margin of victory for the Better Together campaign - 55% to 45% - was greater by about 3% than that anticipated by the final opinion polls. The winning total needed was 1,852,828.
  Alex Salmond to quit
  Alex Salmond is to step down as Scottish first minister after voters rejected independence. He will also resign as leader of the Scottish National Party (SNP), which he has led for a total of 20 years. Scottish voters backed the country staying in the UK by 2,001,926 votes to 1,617,989 in 19th September referendum
  About Scotland:
  Scotland ispart of the United Kingdom and covers the northern third of the island of Great Britain. It shares a border with England to the south, and is otherwise surrounded by the Atlantic Ocean, with the North Sea to the east and the North Channel and Irish Sea to the south-west. In addition to the mainland, the country is made up of more than 790 islands, including the Northern Isles and the Hebrides. Edinburgh, the country's capital and second-largest city. Glasgow, Scotland's largest city. Scotland joined in UK in 1707
  
• Air strikes against IS by France
  French planes have carried out air strikes on Islamic State (Isis) targets in Iraq. Less than 24 hours after President François Hollande announced he had approved a request from the government in Baghdad for air support, at least two French Rafale planes attacked the insurgents' positions.
  NATIONAL:
• Centre asks states to improve school health coverage
  Human Resource Development Ministry asked states and UT’s to strengthen the implementation of Rashtriya Bal Swasthya Karyakran (RBSK) and Weekly Iron Folic Acid (WIFS), in recent times it found that coverage under the RBSK and the WIFS low against the enrolment figures of children in schools. HRD asked to implement these schemes along with Mid-Day Meal (MDM) programme.
  The RBSK and the WIFS are two health-related interventions under the National Health Mission. New-borns to 18-year-olds are screened for birth defects, diseases, deficiencies, development delays and disabilities under the RBSK…..
  • Children above the age of six are screened through school education programmes and pre-schoolers at Anganwadi Centres.
  • The WIFS programme seeks to address the high prevalence of anaemia among adolescents — particularly girls — by providing them weekly Iron Folic Acid (IFA) tablets.
  
  Data submitted by States and UTs for the annual work plan and budget for the MDM programme for the ongoing fiscal has shown inadequate coverage of the two health interventions. Some of the States which lagged behind on this count last year included undivided Andhra Pradesh, Bihar (where health coverage was as low as 17 per cent and IFA distribution 16 per cent), Chhattisgarh, Haryana and Uttar Pradesh.
  To improve school health coverage, the HRD Ministry has asked……….
  • All States and UTs to put in place institutional mechanisms for effective convergence of the RBSK and the WIFS with the three main school education programmes — Sarva Shiksha Abhiyan, MDM and Rashtriya Madhyamik Shiksha Abhiyan.
  • In a letter, Secretary (School Education & Literacy) in the HRD Ministry, Rajarshi Bhattacharya, has suggested the designation of a nodal officer for school health in the Education Department of all States and UTs, proper micro plans for school health check-ups, and proper modality for timely collection and storage of monthly IFA tablets.
  
  
• Uttarakhand submits Ganga action plan to centre
  The Uttarakhand government on 17th September submitted its Rs 9,478-crore action plan to the Centre to clean the Ganga from Gaumukh to Haridwar in the state. The government had mentioned 13 broad proposals through which the river could be cleaned. However, there was no mention of cleaning highly polluted rivers such as Rispana and Bindal in Dehradun that are causing huge pollution in the Ganga.
  Among the proposals, the government said…
  
  • It would create new sewage systems at 132 locations in the state at a cost of Rs 7,634 crore.
  • Pledged to construct 590,000 new toilet facilities at 730 locations at a cost of Rs 219 crore.
  • Biodigester mobile toilets along the Chardham yatra route would also be constructed.
  • Will create new solid waste management systems at a cost of Rs 829.66 crore but did not elaborate how it will collect the garbage in the state where millions of pilgrims and tourists visit every year.
  • The government also committed to setting up common effluent treatment plants at various locations to check the industrial pollution in the river Ganga.
  • A total of 159 locations have been identified in the state along the river and its tributaries where new crematoriums could be built.
    
• Plan to reduce infant mortality
  The Centre on 18th September launched a programme to reduce infant mortality and bring down the number of deaths to a single digit by 2030 from the current 29 deaths per 1,000 live births. The ‘India Newborn Action Plan (INAP),’ inaugurated by Union Health Minister Harsh Vardhan, is the first step towards arresting infant deaths.
  Asserting that India can reduce the deaths through “simple, cost-effective interventions” before and immediately after delivery, Dr. Vardhan said of the 2.8 million who die at birth worldwide, India contributes seven lakh. “These are preventable deaths and now we have an action plan to do it. I don’t believe in long-range targets. We must achieve our goal within a short time,” he said.
  INAP has been prepared with the help of expertise drawn from distinguished members of a Technical Resource Group
  The programme will be implemented under the existing Reproductive, Maternal, Child Health and Adolescents Plus (RMNCHA+) framework. The Minister said it would be carried out with the extensive outreach mechanisms used for fighting polio.
  
• Mahabubnagar turns investment hub
  According to Government of Telangana three Multinatinal companies will invest in Mahabubnagar district of the state. The companies are Procter and Gamble, Johnson and Johnson and Cogent
  CM of state Chandra Sekhar Rao on 18th September inaugurated two manufacturing facilities of Cogent (Rs. 200 crore) and Procter and Gamble (Rs. 900 crore) also laid foundation stone for another Rs. 400 crore manufacturing facility of another industrial giant Johnson and Johnson.
  Procter and Gamble set up its manufacturing unit in 170 acres of land
  Johnson and Johnson unit for which Mr. Rao laid the foundation in Kothur with an investment of Rs 400 crore would provide employment to nearly 1,500 people. The company had also indicated to Mr. Rao that it could look at an additional investment of nearly Rs 4,000 crore in its phase two expansion, sources in the CMO disclosed. This world class facility would manufacture personal hygiene and skin care products, according to its Managing Director Vikas Srivastava.
  
• Punjab’s rural water supply scheme rated the best
  The 16 World Bank mission while rating praising Punjab's implementation of of a Rs. 1280 crore Punjab Rural Water Supply and Sanitation (PRWSS) project Phase-I as the best in the country. The project has not only exceeded the implementation targets under water supply component by 127%, but was also providing water connections to each household in a village but also runs about 50 schemes daily.
  These observations were made by a WB team led by S. Poddipireddy during a meeting with the Punjab Chief Minister Parkash Singh Badal to assess the progress made under the ongoing World Bank aided project.
  Mr Poddipireddy said that water meters have been installed in 196 villages and more than 961 villages implemented under the project have achieved 100 per cent connectivity with each house having a tap installed. In 2083 villages, Gram Panchayat Water and Sanitation Committees (GPWSCs) have been established where villagers operate and maintain their schemes on sustainable basis without any financial assistance from the government. Some villages have also generated funds ranging from one to 10 lakh to operate and maintain the projects in their villages.
  
• Sushma Swaraj inaugurates Nalanda University
  Ancient Nalanda University was on 19th September formally inaugurated by External Affairs Minister Sushma Swaraj. The Centre had already allotted Rs. 2,727 crore, which would be spent in building a high class campus of the university in 10 years
  Nalanda was in ancient Magadha kingdom, which is present day Bihar. It was a religious centre of learning from the fifth century. It flourished during the reign of sakraditya. The school attracted scholars and students from as far away as Tibet, China, Greece, and Greater Iran. Nalanda was ransacked and destroyed by an army of the Muslim Mamluk Dynasty under Bakhtiyar Khilji in c.?1197 CE.
  
• Govt. tied with Gates foundation
  The Government has tied up with the Bill and Melinda Gates Foundation to promote toilet use in the country. To ensure universal sanitation in India with the objective of addressing sanitation-related health concerns, the Ministry of Urban Development and Bill and Melinda Gates Foundation have, in principle, agreed on a partnership to promote user-friendly toilets. Bill Gates said the foundation’s core competency is research and technology promotion and would like to share it with the Government of India. Further to the discussions, it has been agreed that the Ministry of Urban Development and the foundation would cooperate in four areas
  • Innovative technology demonstration in respect of toilets and sewage management
  • Promoting decentralised sewerage systems that enable disposal of sewage at habitation level rather than pooling of sewage
  • Capacity building in sanitation sector and
  • Promoting the use of toilets.
  About 12 million urban households do not have toilet facilities at present.
  
• TS seeks 40% share in Central taxes
  The Telangana state has urged the 14th Finance Commission to allocate 40 percent of central tax revenues as tax devolution to states. Chief Minister K. Chandrasekhar Rao on 19th September told the panel that 40 percent devolution can easily be accommodated by a marginal reduction of five percent in the Centre's expenditure on state subjects.
  He also sought waiver of outstanding central loans to the state, estimated to be Rs.6,000 crore. The commission headed by Y. Venugopal Reddy held consultations with the state government.
  KCR stated that the state favours the introduction of Goods and Service Tax (GST), Rao called for ensuring that there is no accentuation of vertical imbalances and compromise of autonomy of states.
  He suggested that petroleum and liquor be kept out of the purview of the GST. Finance minister Etela Rajender earlier said that the undivided Andhra Pradesh had lost Rs.17,595 crore since the introduction of Value Added Tax (VAT) in 2005, but the Centre had compensated only Rs.5,000 crore.
  According to him, the Centre still owes Rs.12,000 crore in VAT collections to undivided state, of which Telangana's share is Rs.5,126 crore.
  The chief minister pointed out that the growth of the economy slipped from 10.5 percent in the period 2005-06 to 2009-10 to 4.5 percent in 2012-13. The major challenge before the state government is not only to regain the growth momentum but also make it inclusive.
  He said the government was planning to provide Rs.50,000 crore for the development of SCs and Rs.25,000 crore for Backward Classes over the five-year period of 2014-19.
  
• TCS another achievement
  The number of female employees at Tata Consultancy Services (TCS) has crossed the one-lakh mark, making it the country's biggest employer of women in the private sector. Women now comprise one-third of the IT major's 3.06 lakh workforce. This makes TCS, also the most valued company in India, one of the top employers of women in the technology sector globally. The top slot is held by IBM, which has an estimated 1.3 lakh women out of a workforce of 4.31 lakh.
  BILATERAL:
• TCS opens all-woman BPO centre in S. Arabia
  India's largest software exporter Tata Consultancy Services (TCS) on 14th September said it has opened Saudi Arabia's first all-female business process centre, which will provide employment to up to 3,000 women in three years. Saudi Aramco and GE are the centre's first customers, TCS said
  Both the clients have already surpassed their target of recruiting 100 women each, while the total number of those employed at the centre stands at 300, it said. The Riyadh-based 3,200-sq mt facility will offer customers specialised finance and accounting, human resources, materials supply and office services to improve their operational efficiency, it said.
  
• India-Vietnam sign seven pacts
  Strategically important oil and gas cooperation and extension of a USD 100 million credit by India for defence purchases are among the seven pacts inked between India and Vietnam as they called for "freedom" of navigation in the South China Sea, a remark that could irk China which has been claiming territorial sovereignty over the high seas.
  The agreements were signed during the second day of the four-day state visit of President Pranab Mukherjee who held talks with his Vietnamese counterpart Truong Tan Sang.
  Both the countries decided to strengthen and deepen bilateral ties on the basis of the strategic partnership with focus on political, defence and security cooperation.
  They decided to step up collaboration in the economic sector, science and technology, culture and people-to-people links.
  In a subtle message to China, India and Vietnam, who established strategic ties in 2007, asserted that the freedom of navigation in the disputed waters of the resource-rich South China Sea should not be "impeded" and called all the parties "concerned" to exercise restraint in this context.
  They agreed that freedom of navigation in the East Sea/South China Sea should not be impeded and called the parties concerned to exercise restraint, avoid threat or use of force and resolve disputes through peaceful means in accordance with universally recognised principles of international law, including the UNCLOS-1982," said a joint communique issued after the meeting.
  China has been exerting its influence in these waters which is not taken well by Vietnam and other bordering countries like the Philippines. Beijing has also objected to India's exploration projects in the Vietnamese oil blocks.
  Among the seven pacts inked, a Letter of Intent (LoI) was signed between the ONGC Videsh Limited (OVL) and Vietnam Oil and Gas Group (PetroVietnam).
  The LoI is aimed at further consolidating cooperation between India and Vietnam in energy sector and pave the way for future collaboration between the two countries.
  The two sides urged for "collective commitment of the concerned parties to abide by and implement the 2002 Declaration on the Conduct of Parties in the South China Sea and to work towards the adoption of a Code of Conduct in the South China Sea on the basis of consensus.
  India and Vietnam also signed an MoU on extension of USD 100 million Line of Credit to Hanoi for defence procurement.
  The pact, inked between the Exim Bank of India and the Vietnamese Finance Ministry, provides a concessional line of credit for procurement of defence equipment from India. Details of equipment to be procured by Vietnam are under finalisation.
  Another significant pact signed during Mukherjee's visit is an MoU on operating and jointly promoting direct air services between Vietnam Airlines and domestic Indian air carrier Jet Airways.
  For the first time, India and Vietnam will have direct daily flights from November 5 with Jet Airways connecting Delhi and Mumbai to the historic Ho Chi Minh City.
  Apart from the LoI, the MoU on extending a credit line to Vietnam for defence purchases and the agreement on operating and jointly promoting direct air services, other pacts inked were -- agreement on cooperation and mutual assistance in customs matters, MoU on animal health, MoU on setting up of Pangasius breeding and farming in India and MoU on cooperation in youth affairs and skill development.
  The two sides also agreed to undertake focussed cooperation in defence procurement.
  The two leaders also agreed to enhance the economic partnership and strengthen the trade and investment linkages between the public and private sectors of both countries, including forging joint ventures.
  A sapling of the revered 'Bodhi' tree, originally located in Gaya in Bihar, was on 15th September planted in the Presidential palace of Vietnam by Mukherjee, the second such offshoot of the holy tree in this country.The Indian delegation comprises Oil Minister Dharmendra Pradhan and five other Parliamentarians.
  
• Cairn India, NASSCOM tie up
  Cairn India, in association with Nasscom Foundation, has established Cairn Nasscom Knowledge Centre at Challapalli village in Uppalaguptham mandal of East Godavari. This is a part of CSR actitivities, Cairn India has tied up with Nasscom Foundation to provide employability skills to the rural youth by imparting learning on basics of computer and spoken English courses.
  India and china made 3 pacts
  Chinese President Xi Jinping has reached India on 17th September, for a three visit in India. He was welcomed by Indian Prime Minister Narendra Modi. He reached Ahmedabad. The visit is billed as a significant leap forward to improve bilateral relations between the two Asian giants in these times of fast-changing power equations.
  The Chinese President signed three memoranda of understanding (MoUs), heralding long-term cooperation and possible big-ticket investments. China, which has so far invested only Rs 700 crore in Gujarat, is expected to raise it significantly in the years to come.
  • An important MoU, effective for three years, was signed between China Development Bank and the Gujarat Government’s nodal agency for investments, iNDEXTb (Industrial Extension Bureau) for investment promotion. The Bank will encourage Chinese investments in Gujarat by extending credit to set up industrial facilities and factories at these parks. iNDEXTb will assist Chinese investors in obtaining various clearances and creating infrastructure at these parks, the first of which will be set up near Vadodara to manufacture plastics, electrical equipment and electronic goods.
  • The second MoU seeks to establish “Sister Province” relations between Guangdong and Gujarat, covering cooperation in economy and trade, environmental protection, public policy education, health, science and technology, as also tourism and culture. The Sister Provinces will also extend mutual cooperation in sports, youth affairs, urban planning, waste water management, infrastructure, and exchange of business delegations. This MoU will be in force for five years.
  • The third MoU, also for five years, was signed between the cities of Guangzhou and Ahmedabad for closer cooperation between the local authorities. “Knowledge-sharing will be done through delegation visits, institutional meetings and sharing of experiences in areas of mutual interest.”
  
  Flag meet held
  India and China on 17th September held a flag meeting to discuss the situation in Chumar sector of Ladakh where troops of both the sides are engaged in a face-off situation.
  The Brigadier-level flag meeting was held at a border personnel meeting point in Chushul, where the issue of intrusion of Chinese civilians in the Demchok area was also discussed. The meeting discussed the situation in Chumar where the Chinese troops have entered into the perceived Indian area and they have been asked to leave. Around 300 Chinese troops had entered the Indian territory over five days ago and they were confronted by a group of around 100 soldiers from the Army and the ITBP there.
  This was the second flag meeting that has taken place in the last one week between the two sides to defuse the situation. Chumar is one of the very few places along the Line of Actual Control where access to the border areas is easier from the Indian side and this place has witnessed several face-off situations in the last two-three years.
  IndiGo inks Rs 15, 384 cr deal with China bank
  Budget carrier IndiGo has entered into a $2.6-billion (Rs 15,384 crore) deal with Industrial & Commercial Bank of China (ICBC) for financing the purchase of over 30 aircraft. The two parties have signed a memorandum of understanding in the backdrop of Chinese Premier Xi Jinping’s ongoing state visit to India.
  • ICBC is said to be one of the largest banks in the world by total assets and market capitalisation. In 2013, it topped the Forbes Global 2000 list of world’s biggest public companies.
  • IndiGo — largest airline in India by number of passengers carried — currently has a fleet of 81 Airbus A320 aircraft. It is one of the few profitable carriers in the country.
  China to open doors wider for Indian goods
  India and China on 18th September agreed to work on improving the skewed bilateral trade relations and sort out the contentious border issue, which has often soured relations between the two countries.
  As part of the trade balancing initiative, Chinese President Xi Jinping, announced that China will continue to take active steps to give more market access to products from India, including pharmaceutical and farm goods. Further, he also committed investments of $20 billion over five years.
  According to Indian statistics, with an increase in the bilateral trade over the last decade, the trade imbalance against India also increased exponentially from $18.65 billion in 2009 to $36.86 billion in 2013.
  The two sides exchanged 12 documents, including a five-year roadmap for promoting balanced and sustainable development of economic and trade relations between the two nations on the principle of equality and mutual benefits.
  The two sides agreed to cooperate in the Railways sector with Xi saying that the two leaders agreed to increase the speed on the existing rail section from Chennai to Mysore via Bangalore. The two sides decided to declare 2015 as the Visit India year in China and 2016 as the Visit China year in India.
  Renews Customs cooperation pact
  India and China have renewed the agreement for Mutual Administrative Assistance and Cooperation in Customs matters. A fresh agreement was signed by the Chairperson of Central Board of Excise and Custom (CBEC) JM Shanti Sundharam and the Chinese Ambassador to India.
  The fresh agreement will help in timely availability of relevant information for prevention, investigation and combating Customs offences. It will assist customs administrations in both the countries to exchange experiences in the techniques and methods of clearance of goods and passengers, exchanging information on new trends of smuggling and in simplification and harmonisation of procedures.
  Bonding with films
  With India and China signing an audio-visual co-production agreement on 18th September, the two countries have agreed to establish a joint working group to facilitate and come up with a concrete co-operation framework for the film sector.
  This decision was taken at the meeting between Information and Broadcasting Minister Prakash Javadekar and his Chinese counterpart, Cai Fuchao, Minister for State Administration of Press, Publication, Radio, Film and Television. This group will meet on the sidelines of IFFI 2014 in Goa where China will be the key participant.
  SBI, ICICI Bank, Axis Bank to get China Exim Bank credit
  State Bank of India and ICICI Bank signed framework agreements with the Export Import Bank of China (China Exim Bank) for Lines of Credit (LOC) amounting to $1.8 billion and $1 billion respectively.
  The LOC will be utilised for projects involving import of Chinese raw materials, energy, equipment, mechanical and electronic products, complete sets of equipment, new and high-tech products, energy projects, infrastructure and construction projects and any other projects mutually agreed on by the two banks, the banks said in their respective statements. Axis Bank, India’s third largest private bank, also signed an MoU with China Development Bank for an undisclosed amount to support its corporate clients by funding them at competitive rates.
  The deal will also give the bank the opportunity to work closely with Chinese companies in meeting their requirements in India.
  SBI, in the statement, said that the agreement is expected to be an important building block in the push to the infrastructure sector initiated by the new Government, which is expected to require an investment of over a trillion dollars over the next few years.
  China allows Kailash Mansarovar Yatra via Nathula pass in Sikkim
  Indians travelling on the annual Kailash Manasarovar yatra will soon have another route. China agreed to allow the yatra through the Nathula pass in Sikkim. The new route will pass through the city of Shigatse, which is part of the Tibetan Autonomous Region. This new route will be in addition to the Lipulekh pass in Uttarakhand through which the yatracurrently takes place.
  A Memorandum of Understanding between the Ministries of External Affairs of India and China signed allows for the opening of the new route for Indian pilgrims to the Tibet Autonomous Region in the People’s Republic of China. As per agreement China will be guest of honour country at the New Delhi World Book Fair 2016 something.
  An MoU between the Indian Space Research Organisation and the China National Space Administration will allow India and China to encourage exchange and cooperation in the exploration and use of outer space for peaceful purposes, including research and development of scientific experiment satellites, remote sensing satellites and communication satellites.
  The two countries have also agreed to enhance cooperation in the railway sector, including studying the feasibility of cooperation in a high-speed train as part of the MoU between the Ministry of Railways and Government of China on strengthening cooperation in Railways
  In total 13 agreements
  In total India and China signed 13 agreements. India raised concerns over the standoff at the Line of Actual Control in Ladakh “and repeated incidents” along the border.
  In a strong statement, Prime Minister Modi said, “Respect for each other’s sensitivities and concerns, and peace and stability in our relations and along our borders are essential for us to realise the enormous potential in our relations.”
  He also urged for the “clarification” or demarcation of the Line of Actual Control and an “early settlement of the boundary question.” President Xi also hoped that the boundary resolution could be resolved “quickly” as he said,
  New Delhi to host India-China financial dialogue this year
  India and China have agreed to hold the 7th India-China Financial Dialogue this year to enhance cooperation between the financial regulators of the two countries. A joint statement issued during the visit of Chinese President Xi Jinping states that the Indian side approved, in principle, the request of the Bank of China to open a branch in Mumbai.
  The leaders agreed to explore new areas for economic cooperation in crosscutting fields including industrial investment, infrastructure development, energy conservation and environment protection, high-tech industry, clean energy and sustainable urbanization
  The two sides also agreed to take positive steps towards rebalancing bilateral trade and addressing the existing structural imbalance in trade that has a bearing on its sustainability. Such measures will include cooperation on pharmaceutical supervision including registration, speedier negotiations on agro-products for two-way trade, stronger links between Indian IT companies and Chinese enterprises, and increasing services trade in tourism, films, healthcare, IT and logistics.
  India and China also agreed to regular exchange of visits between the Defence Ministries and military leaders, so as to expand pragmatic cooperation in relevant fields. They also agreed to hold the fourth joint army training at a mutually convenient time, hold a Navy/Airforce joint exercise at a proper time, and strengthen cooperation in such areas as peace-keeping, counter-terrorism, naval escort, maritime security, humanitarian rescue, disaster mitigation, personnel training, and think tank communication.
  India, China agree to resolve border dispute via 2005 pact
  India and China have decided to resolve their long-standing border dispute according to the Agreement on the Political Parameters and Guiding Principles for the Settlement of the Boundary Question, a pact the two governments had signed in April 2005
  Both sides have also decided to start talks on a civil nuclear agreement, to expand their civil nuclear energy programmes.
  The 2005 agreement had virtually spelt out the contours of a settlement, taking into account the two sides’ “strategic and reasonable interests”. It had prescribed any settlement “should safeguard due interests of their settled populations in the border areas”.
  In a joint statement issued after a meeting between President Pranab Mukherjee and his Chinese counterpart Xi Jinping on 19th September, the two countries said
  Both sides have agreed to seek a fair, reasonable and mutually acceptable solution to the border dispute pertaining to the definition of the Line of Actual Control. They have tasked their respective special representatives with reaching political consensus on the issue, under the Working Mechanism for Consultation and Coordination on India-China Border Affairs.
  The statement said regular visits into each other’s countries would be undertaken by defence ministries and military leaders of the two countries. Both will explore ways to achieve economic cooperation in new areas to address the rising trade deficit against India. These areas include industrial investment, infrastructure development, energy conservation and environment protection, the high-tech sector, clean energy and sustainable urbanisation.
  India and China will also explore ways to establish joint ventures and collaboration in creating smart cities. In this regard, a dialogue mechanism will soon be set up between the finance ministry’s Department of Economic Affairs and China’s Development Research Centre of the State Council. The joint statement also reiterated China would invest $20 billion in India through five years
  ECONOMY:
• Rs 20,000 cr boost for small units in capital goods sector
  The Government on 15th September announced a Rs 20,000-crore scheme for enhancing competitiveness of small and medium enterprises in the capital goods sector. Under the scheme approved by the Cabinet, the first phase, with an outlay of Rs 930 crore, will focus on development of specified technologies.
  Under phase-I, special centres for textile, machine tools and auto will be set up in Surat, Bangalore, and a city in Punjab respectively.
  The outlay approved for phase-I was for two-and-a-half years. The Government will provide Rs 581.22 crore (80 per cent), while the remaining will be provided by the industry. The same mechanism will be applied for the entire scheme to be implemented over a period of time
  
• Rs 4, 754-cr power transmission scheme for North-East approved
  The government on 15th September approved a scheme for strengthening power transmission in Arunachal Pradesh and Sikkim at an estimated cost of Rs 4,754.42 crore. The Cabinet Committee on Economic Affairs approved this scheme. It is necessary to strengthen the power transmission for proper voltage management and lower distribution losses in both the states.
  The project would be implemented by Power Grid Corporation with its consultancy fee of 12 per cent of the execution cost. After commissioning, the projects would be owned and maintained by state governments. The project is to be implemented within 48 months from the first fund release to Power Grid Corporation.
  
• Economy poised to grow 5.7%: OECD
  Sharply revising upwards its forecast, Paris-based think tank Organisation for Economic Cooperation and Development on Monday projected 5.7 per cent growth for the economy this year, even as global recovery continues at a moderate pace. Its latest estimate is way higher than the 4.9 per cent growth projection in May this year.
  In its latest interim Economic Assessment report released, OECD said a moderate expansion is under way in most major advanced and emerging economies. However, growth remains weak in the euro area, which runs the risk of prolonged stagnation if further steps are not taken to boost demand, it added.
  
• Capital goods sector scheme gets cabinet nod
  Aiming to make the Indian capital goods sector globally competitive, the Cabinet Committee on Economic Affairs (CCEA) 15th September approved the "Scheme for Enhancement of Competitiveness of the Capital Goods Sector" to boost the Indian economy
  The scheme will be implemented in the 12th Plan period and spill over to the 13th Plan period with an estimated outlay of Rs.930.96 crore. The gross budgetary support (GBS) from the government for the scheme would be Rs.581.22 crore and the balance Rs.349.74 crore would be contributed by the stakeholder industries
  The capital goods value added contributes a fairly constant proportion of 9-12 percent of the total manufacturing value added. The apparent consumption of capital goods constitutes a constant share of 17-21 percent of the total gross domestic investment in the country.
  The scheme has five components to achieve the desired result in pilot mode.
  • Firstly, creation of "Advanced Centres of Excellence" for research and develop
  • ment and technology development with national centres of excellence in education and technology.
  • Secondly, establishment of "Integrated Industrial Infrastructure Facilities" popularly known as Machine Tool Parks with a basic objective of making the machine tool sector more competitive by providing an ecosystem for production.
  • Thirdly, "Common Engineering Facility Centre" for textile machinery will be be set up with active participation of the local industry and the industry association, which in turn would improve facilitation to the users along with visibility.
  • Fourthly, "Testing and Certification Centre" for earth moving machineries in view of the fact that it is soon going to be made a mandatory requirement and at present there is no test facility to test earthmoving machinery like that in the automobile industry.
  • And finally, the creation of a "Technology Acquisition Fund" under the Technology Acquisition Fund Programme in order to help the capital goods Industry to acquire and assimilate specific technologies, for achieving global standards and competitiveness within a short period of time
    
• SEBI accepts India Incorporations requests on corporate governance
  Acceding to representations from market participants, companies and industry associations on practical difficulties in implementing the corporate governance norms, SEBI has amended them (requests or suggestions) even before they are scheduled to come into force from October 1.
  • Companies with share capital of less than Rs 10 crore and net worth of less than Rs 25 crore, besides those listed on the SME and SME’s institutional trading platforms (ITP), have been given the option of implementing SEBI’s corporate governance norms.
  • The date of appointing a woman director on board has been postponed to the next fiscal (April 1, 2015).
  • Independent directors should not have or have had any material pecuniary relationship with a company, its parent/ subsidiary/ associate/ promoters/ or directors during the last two financial years or during the current fiscal. The maximum tenure for independent would be according to the Companies Act 2013 as against the 10 years stipulated earlier.
  • The Chairman of a company has been allowed to be a member of the nomination and remuneration committee (earlier he was not a part), but cannot chair these committees — the chairmanship would remain with an independent director, said SEBI.
  • SEBI added the risk management committee of a company should have majority representation from the board, and has to be chaired by a board member, though senior executives may be inducted as members. Earlier, this was not specified.
  • For related party transactions (RPT), SEBI has explained that a “transaction” with a related party shall be construed to include single transaction or a group of transactions in a contract. SEBI has substituted its definition of a related party by the one defined by the Companies Act 2013 and the applicable accounting standards.
  • A material RPT is one that if a transaction exceeds 10 per cent of a company’s annual turnover. Earlier, it was the higher of 5 per cent of turnover or 20 per cent of net worth.
  • The audit committee of the company has been allowed to grant omnibus approvals for proposed RPTs, provided the committee lays down a criteria for such approval.
    
• Cognizant to acquire us firm TriZetto for $2.7b
  Cognizant announced on 15th September that it has entered into a definitive agreement to acquire TriZetto Corporation for $2.7 billion in cash, its largest acquisition ever, subject to customary adjustments. The deal is among the biggest technology buys in the world, which will catapult Cognizant into the league of the top five leading IT services providers for the healthcare segment across the globe.
  Based in Englewood, Colorado in the US, privately held TriZetto is a provider of healthcare IT software and solutions with revenue of $676 million. TriZetto and its 3,700 employees will be a part of Cognizant’s existing heal-thcare business, which cu-rrently serves more than 200 clients, including 16 of the top 20 US health plans and four of the top five pharmacy benefit management companies. Healthcare represents ab-out 26 per cent of Cognizant’s revenue of $8.84 billion (2013). The company envisages over $1.5 billion of potential revenue synergies cumulatively over the next five years.
  
• RBI suggests norms for reforming PSBs
  In the wake of rising frauds and corporate governance issues in public sector banks, the central bank has recommended to the government certain norms for reforming public sector banks (PSBs). On recent reports about the government looking to pare its stake in public sector banks below 51 per cent following recommendations of the P. J. Nayak Committee (to review governance of boards of banks in India), Gandhi, Deputy Governor of RBI said the government had to take a view on how much they wanted to invest in these banks.
  He also said that final guidelines for giving universal banking licences on-tap would be issued in the current financial year. On the liquidity coverage ratio norms, he said banks as of now were in compliance with the norms and would be able to achieve the target.
  
• First set of defense sector FDI proposals gets FIPB nod
  The Foreign Investment Promotion Board (FIPB) has given its nod to the first set of defense proposals. The Government had notified new norms allowing higher FDI in the defense sector on August 26. On 16th September FIPB cleared 21 of the 35 proposals brought for its consideration. The approved proposals are worth Rs 988 crore.
  The 21 approved projects include those of Bharti Shipyard, Solar Industries and Kineco Kaman Composites India relating to the defense sector. Though another proposal, of Hats off Helicopter Training, came through the Civil Aviation Ministry, it involves the Defense Ministry. The board also gave its nod to two proposals, of IndusInd Bank and ANZ Capital, related to the financial sector.
  
• Jan Dhan benefit to be extended
  The RuPay debit card facility, with in-built accident insurance cover of Rs 1 lakh currently available only to Jan Dhan accountholders, will be extended to all existing bank account holders. The facility of overdraft of Rs 5,000 — after satisfactory operations in the account for some time — will also be extended to existing accountholders. Account holders can avail themselves of these benefits by submitting an application to the bank branch concerned
  
• ADB to lend $63.3 million for urban services
  The government has signed an agreement with the Asian Development Bank (ADB) for $63.3 million loan to improve urban municipal services in 14 towns in north Karnataka.
  This is the fourth and the last tranche of loan under the North Karnataka Urban Sector Investment Programme to help upgrade infrastructure. The programme includes expansion of the potable water systems to provide continuous water supply with private sector participation in 12 towns, completion of sewerage networks in three towns and improvements to the road network in two towns.
  The $270 million overall investment programme aims to improve basic urban services for at least 4.3 million people living in 25 North Karnataka towns by providing them with improved water supply, faster urban transportation, and other public facilities.
  
• Nod for 21 FDI’s
  The Foreign Investment Promotion Board (FIPB) has given its nod to the first set of defence proposals. The Government had notified new norms allowing higher FDI in the defence sector on August 26. On 14th 16th September FIPB cleared 21 proposals, including that of Bharti Shipyard, but turned down Sistema Shyam’s request to raise foreign holding.
  The proposal of Bharti Shipyard — the shipbuilder has foreign direct investments through institutional investors and non-resident Indians — to undertake defence activities was cleared, sources said. Verizon Communications India’s proposal to increase foreign equity participation by its foreign parent from 74 per cent to 100 per cent was also approved.
  Other cleared proposals included those of Kineco Kaman Composites India Ltd in the defence sector and ANZ Capital Ltd in the financial services sector.
  FDI doubles to $3.5 billion in July
  Foreign direct investment (FDI) flows into India more than doubled to $3.5 billion in July, the department of industrial policy and promotion said on 16th September. In July 2013, the country had received FDI of $1.65 billion. During April-July this financial year, foreign inflows grew 52 per cent to $10.7 billion, compared with $7.05 billion in the corresponding period last year.
  Easy norms for equity shares under FDI
  The Reserve Bank of India (RBI) has eased the guidelines for issue of shares or convertible debentures under the automatic route. According to the changed norms, companies can issue equity shares to a resident outside India against any type of fund, subject to certain riders. The central bank has permitted the issuance of equity shares against any fund payable by the investee company, the remittance of which does not require prior permission of the government or RBI.
  The banking regulator said the equity shares should be issued in accordance with the extant foreign direct investment guidelines on sectoral caps, pricing guidelines etc.
  Earlier, under the automatic route, an Indian company could issue shares or convertible debentures to a resident outside India against lump-sum technical know-how fee, royalty external commercial borrowings and import payables of capital goods by units in special economic zones.
  The norms allow issuance of shares subject to conditions such as entry route, sectoral cap, pricing guidelines, and compliance with the applicable tax laws.
  
• Bank credit growth falls below 10% after 5 years
  For the fortnight ended September 5, annual credit growth in the banking system fell to 9.68 per cent, data released by the Reserve Bank of India (RBI) showed. This was the first time since October 2009 (9.01 per cent) that growth in bank credit fell below 10 per cent.
  
• Gas panel submits report, recommends less than disputed price
  A Committee of Secretaries (CoS) looking at the new gas pricing guidelines has submitted its report to the petroleum ministry. The exact recommendations of the panel on pricing have been kept under wraps. However, official sources said it has suggested a price less than what the Rangarajan panel had recommended — $8.4 per unit. The panel was constituted last month to review gas pricing guidelines of January 2014.
  As per the guidelines, based on the recommendations of an earlier panel, headed by former chairman of Prime Minister’s Economic Advisory Council C Rangarajan, new doubled gas prices were to come into effect beginning April. But the implementation was postponed owing to the general elections in May. The government later deferred the announcement of the new price till September-end. However, a final decision on pricing might be delayed further due to Assembly polls in Maharashtra and Haryana in mid-October
  Every dollar increase in gas price would raise urea production cost by Rs 1,370 per tonne, electricity tariff by 45 paise per unit, compressed natural gas prices by Rs 2.8 per kg and piped natural gas rates by Rs 1.8 per standard cubic meter.
  
• Panel on accounting norms set up
  The Corporate Affairs Ministry has constituted a National Advisory Committee on Accounting Standards under the chairmanship of Amarjit Chopra to advise the Central Government on the formulation and laying down of accounting policies and accounting standards. Besides Chopra, who is a former CA Institute President, the committee will have 12-other members including nominees of industry bodies — CII, FICCI and Assocham — and regulatory bodies such as RBI and SEBI. The panel Chairman and members will have a term of one year from September 18 or till the constitution of the National Financial Reporting Authority, whichever is earlier.
  
• Tourism Ministry eyes 1% share in world tourist arrivals
  The Ministry of Tourism aims to get 1 per cent share of world tourist arrivals, as against the current 0.64 per cent. In 2013, India received 69.7 lakh tourists and this year expectation is it to cross 73 lakh. The country witnessed 16.9 per cent growth in foreign tourist arrivals in August 2014 compared to the same month last year.
  The Ministry has launched ‘Culinary Survey of India’ for identification, documentation and archiving of recipes across the country. It recently laid the foundation stone for the Indian Culinary Institute in Tirupati. The Ministry will soon launch a Cleanliness Index which will rank all tourist destinations in the country.
  
• PFRDA panel to assess investment norms
  Pension fund regulator PFRDA has set up an expert committee under the chairmanship of former Sebi chairman G N Bajpai to review investment guidelines for pension system, other than for government employees, and suggest changes to make the scheme more attractive.
  The panel will, among other things, "review current investment guidelines for NPS schemes for private sector and recommend changes or new schemes," PFRDA said in a notification.
  The six-member panel would also make recommendations on any other related issue which has a bearing on the investment pattern of New Pension System and will affect the interest of subscribers to the NPS such as active and passive management.
  The penal which is expected to submit its report in six weeks would also look into the monitoring and supervision mechanism over pension fund manager investment portfolio.
  Members of the panel are Deepak Satwalekar, former CEO and Managing Director at HDFC Standard Life Insurance Company; S B Mathur, former LIC Chairman; C R Murlidharan, former IRDA Member and Madhavi Das, Executive Director, PFRDA.
  In 2010, the PFRDA had set up a committee headed by G N Bajpai and entrusted it with the task of analysing the fee structure and suggesting changes to the National Pension System (NPS).
  The central government had introduced the New Pension System (NPS) in January 2004.
  Initially, the New Pension System covered new entrants to central government services (excluding Armed Forces) and some state government services. From May 1, 2009, PFRDA has extended NPS to all citizens of India, including workers of the unorganised sector. NPS has garnered a total of 71 lakh subscribers by July 31, 2014 and is managing above Rs 58,000 crore of funds.
  SCIENCE AND TECHNOLOGY:
• ESA unveils spot for historic comet landing
  A European spacecraft flying alongside a comet in deep space finally has a place to land after a 10-year journey through the solar system. The European Space Agency on 15th September unveiled the target landing site on Comet 67P/Churyumov–Gerasimenko for the Philae lander riding aboard the agency's Rosetta mission. Mission controllers picked a drop zone called "Site J" as the primary target from five potential landing sites shortlisted in late August. If all goes well, the lander will touch down on the comet on Nov. 11. ESA launched the Rosetta spacecraft and Philae into space in 2004. The probes traveled for 10 years, crossing 4 billion miles (6 billion km) of deep space before finally reaching their comet target.
  
• Sea ice levels rise in Antarctic, falls in Arctic
  The extent of sea ice in Antarctica is set to reach a record high, scientists said on 16th September, as they announced that Arctic sea ice appeared to have shrunk to its sixth lowest level ever. The National Ice and Snow Data Centre (NSIDC) said satellite data was expected to shortly confirm this. “Antarctic sea ice is poised to set a record maximum this year, now at 19.7 million sq km (7.6m sq m) and continuing to increase,” the centre said.
  Figures released by the NSIDC in Boulder, Colorado, show that the so-called Arctic sea ice minimum — the point where the extent of sea ice there is at its lowest after the summer — is expected to be confirmed imminently.
  At 5.09 m sq km, the extent of Arctic sea ice this year would be the sixth lowest on record, slightly worse than last year, though not as extreme as the record set in 2012 when it plunged to less than 3.5 million square kilometers.
  
• 2014 August recorded high temperature
  2014, August was hottest, on record for global average temperatures over land and ocean surfaces, the U.S. National Oceanic and Atmospheric Administration said on 18th September. If the trend continues, 2014 could set records for planet-wide heat, raising fresh alarm at the pace of global warming and the burning of fossil fuels.
  The month’s temperature was 1.35 degrees Fahrenheit above the 20th century average, the agency said in its monthly climate report. The period between January and August was also the third warmest on record
  The National Oceanic and Atmospheric Administration (NOAA) is a scientific agency within the United States Department of Commerce focused on the conditions of the oceans and the atmosphere. NOAA warns of dangerous weather, charts seas and skies, guides the use and protection of ocean and coastal resources, and conducts research to improve understanding and stewardship of the environment. In addition to its civilian employees, 12,000 as of 2012, NOAA research and operations are supported by 300 uniformed service members who make up the NOAA Commissioned Officer Corps. The current Under Secretary of Commerce for Oceans and Atmosphere at the Department of Commerce and the agency's administrator is Kathryn D. Sullivan, who was nominated February 28, 2013, and confirmed March 6, 201
  SPORTS:
• Srinivas and Rashmi Triumph
  Reigning National champion K. Srinivas and Rashmi Kumari won the men’s and women’s singles titles respectively in the fourth World Cup carrom championship in Maldives. The Indian combination of P. Jayashree and Rashmi defeated another Indian pair Kajol and Kavitha Somanchi in the women’s doubles final.
  
• Asian games started
  The 2014 Asian Games, officially known as the XVII Asiad were started on 19th September. They will last till 19th October. The number of events are 439 events, and total number of disciplines are 36. The games are being held in Incheon south Korea.
  All about Asian games:
  
  • The Asian Games, also known as Asiad, is a Pancontinental multi-sport event held every four years among athletes from all over Asia.
  • The Games were regulated by the Asian Games Federation (AGF) from the first Games in New Delhi, until the 1978 Games.
  • Since the 1982 Games they have been organized by the Olympic Council of Asia (OCA), after the breakup of the Asian Games Federation.
  • The Games are recognized by the International Olympic Committee (IOC) and are described as the second largest multi-sport event after the Olympic Games.
  • In its history, nine nations have hosted the Asian Games. Forty-six nations have participated in the Games, including Israel, which was excluded from the Games after their last participation in 1974.
  • The last Games was held in Guangzhou, China from 12 November to 27 November 2010. The present games are conducting in Incheon, South Korea
  • Games held in Delhi in 1951, from 4th to 11th March, and second time, games were held in Delhi in 1982
  • India is one of the only seven countries that have competed in all the editions of the Asian Games. The other six are Indonesia, Japan, the Philippines, Sri Lanka, Singapore and Thailand. India has won at least one gold medal at every Asian Games, and always ranked within the top 10 nations of the medal table except in the 1990 Asian Games.
  
  
  AWARDS:
• Rajeev Kishore Dubey: He is the CMD of Canara Bank, received the 1st Prize under the Indira Gandhi Rajbhasha Puraskar Yojana from the President of India, Pranab Mukherji
  
• Manoj: The sports ministry has agreed to give the Arjuna Award to boxer Manoj Kumar. The Kapil Dev-led award committee had earlier refused to give the coveted award to the 2010 Commonwealth Games gold medallist.
  The ministry, represented by Additional Solicitor General (ASG) Sanjay Jain, informed Justice Vibhu Bakhru that Kumar was initially not considered for the award by the committee as they mistakenly believed that he was involved in a doping case.
  Jain also informed the court a representation was made on the boxer's behalf but without giving reasons, the committee rejected his plea.
  The controversial recommendation of boxer Jai Bhagwan for the prestigious Arjuna Awards had led to Kumar approaching the sports ministry officials, who, he said, had assured him that his name would be added to a list of 15 athletes in a review meeting.
  PERSONS IN NEWS:
• David Haines: The militant group that calls itself the Islamic State has released a video that purportedly shows the beheading of British aid worker David Haines. The authenticity of the video, which appeared online on 13th September, has not been independently confirmed by NPR.
  
• Kireet Joshi: Eminent educationist and former education adviser to the Union government Kireet Joshi passed away on 14th September
  • Joshi was selected for the Indian Administrative Services in 1955
  • He resigned his job the same year in order to study and practise the Integral Yoga of Sri Aurobindo at Puducherry.
  • He was appointed as the Registrar of Sri Aurobindo International Centre of Education in 1958.
  • In 1976 the then Prime Minister Indira Gandhi appointed him as the educational adviser to the Government of India.
  • He was instrumental in redesigning and redrafting of the Bill for Vishwa Bharati University, Shantiniketan.
  • He is also credited with seeding the idea of the Indira Gandhi National Open University as also of Pondicherry University.
  • In 1981 Mr. Joshi was appointed Secretary of Auroville International Advisory Council.
  • He served as the Educational Adviser to the Gujarat Chief Minister from 2008 to 2010.
• Mashelkar: Scientist Raghunath Anant Mashelkar, former director general of the Council of Scientific and Industrial Research, has been named the chair of an expert panel to recommend best technologies for Prime Minister Narendra Modi's "Swachh Bharat" national sanitation campaign.
  
• Arsh Shah Dilbagi: A teenager from Haryana, Arsh Shah Dilbagi has invented a device to help patients of the dreaded ALS or Lou Gehrig’s disease speak through their breath. His project is now among 15 shortlisted for the Google Science Fair Award 2014. He is a student of Class 12 in one of the three DAV Public Schools in Panipat city of Haryana, has invented “Talk”, an innovative augmentative and alternative communication (AAC) device to tackle the Amyotrophic Lateral Sclerosis (ALS) disease. ALS is a neuro-degenerative disease that affects nerve cells in the brain and the spinal cord.
  Hundreds of thousands of projects were submitted throughout the world as there was no fee to participate in the Google Science Fair. Ninety projects were shortlisted by the judges for further consideration, and of the 90, five projects were from India.
  
• Subbarami Reddy: Congress MP T. Subbarami Reddy, a former Union Minister, has been appointed Chairman of the Committee on Subordinate Legislation of the Rajya Sabha. As an important Parliamentary Committee which was first constituted in the 1960s, it reviews all rules, regulations, by-laws, schemes and other statutory instruments issued by various Ministries.
  
• T.S. Raju: The Public Sector Enterprises Selection Board, on 15th September, named T. Suvarna Raju as the next Chairman of Hindustan Aeronautics Ltd. R. K. Tyagi, present Chairman, is due to superannuate at the end of January 2015. Mr. Raju is at present Director (Design & Development).
  
• Basu: The International Economic Association (IEA) has appointed Kaushik Basu, who is Chief Economist and Senior Vice President of World Bank, as president-elect of the association. A WB Chief Economist is appointed for a 4 year term. In Kaushik Basu's case, to take up the WB job, he took leave from Cornell University where he is Professor of Economics and the C. Marks Professor of International Studies.
  
• Shankar Barua: Former director general of Assam Police Shankar Barua, who was being investigated by the CBI for his alleged involvement in the multi-crore Saradha chit fund scam, shot himself with his licensed revolver at his home on 17th September. Barua, a 1974 batch IPS officer, had retired from service in 2012. He was 63. The CBI had raided Barua's home on August 28. CBI sleuths had also taken Barua to his bank and examined his account and bank papers.
  
• Indra Nooyi: PepsiCo Chief Executive Officer (CEO) Indra Nooyi has been ranked the third most powerful businesswoman by the Fortune magazine. She is the only India-origin woman on ‘The most powerful women in business 2014’ list topped by IBM Chairman and CEO Ginni Rometty and General Motors CEO Mary Barra.
  
• Verma: President Barack Obama nominated former State Department official Richard Verma as U.S. ambassador to India on 19th September. Verma, an Indian-American, served as assistant secretary of state for legislative affairs at the State Department in the Obama administration from 2009 to 2011. He is currently a senior counselor at Steptoe & Johnson law firm and the Albright Stonebridge Group, a business advisory company, led by former U.S. Secretary of State Madeleine Albright.
  
• Mandolin Srinivas: Child prodigy-turned master musician Mandolin U. Shrinivas passed away on 19th September.
  
• Amit Mathew: Amit Mathew, Resident Editor and Director of Malayala Manorama, has been unanimously elected as Chairman of Audit Bureau of Circulations (ABC) for 2014-15. Shashidhar Sinha, CEO-India, IPG Mediabrands, representing Advertising Agencies on the Council, has been unanimously elected as Deputy Chairman.
  
• Alok Shetty: The 28-year-old Indian architect Alok Shetty has been named ‘young leader of tomorrow’ by Time magazine for his pioneering work in designing affordable flood-proof houses for slum-dwellers. Time said Shetty is “building hope in India” as an architect who is “finding simple solutions to complex problems’’.
  Shetty, working with the Bangalore-based non-profit Parinaam Foundation, is designing homes for hundreds of slum-dwellers whose makeshift houses flood during the heavy rains and become breeding grounds for diseases like malaria. He has been working in Bangalore’s LRDE slum, which lies next to one of the southern Indian city’s sprawling technology parks and is home to some 2,000 people.
  He designs flood-proof houses, costing $300, out of discarded scaffolding, bamboo and wood. The houses are affordable and easy to set up as it takes only four hours to erect and dismantle them.
  
• John Key: He is again reelected as Prime Minister of New Zealand. He won in recently conducted general election. John Phillip Key is the 38th Prime Minister of New Zealand, in office since 2008. He has led the New Zealand National Party since 2006