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OCTOBER GK 2014

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Govt to launch Unnat Bharat Abhiyan

Government is set to launch a new programme, the Unnat Bharat Abhiyan to uplift rural India.

This programme will be launched in collaboration with the Indian Institutes of Technology (IIT)

and the National Institutes of Technology (NITs) across the country.

The main idea for launching the programme is to provide definitive research that can be

aligned with national development.

Unnat Bharat Abhiyan is an initiative of the Ministry of Human Resource Development. It will be

coordinated and steered by IIT Delhi.

Key Points about Unnat Bharat Abhiyan

The programme, with the help of IITs, NITs and other leading technical institutions will

prepare a roadmap for holistic rural development.

It will involve engaging with communities around each institute and for their upliftment.

Each IIT will identify 10 villages in its neighbourhood and work out technologies to solve the

most pressing issues of the region.

Different teams from these institutes will visit the villages, identify problems and then aim to

find financially-viable schemes.

Once the solution is identified then they will involve the industry in this to solve the problem.

Along with the HRD ministry and the institutes, some other ministries such as rural

development and NGOs working in villages are also likely to be involved in the programme.

Some of the problems that the institutes will be looking at are, supply of potable water,

sanitation, energy and low cost housing.

Sachin Tendulkar inducted in Bradman Hall of Fame

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Cricketers Sachin Tendulkar and Steve Waugh have been inducted into the Bradman

Hall of Fame.

The two cricketers were inducted as honorees of the Bradman Foundation at a gala

dinner held at the Sydney CRICKET Ground.

Sachin Tendulkar had met Bradman on his 90thbirthday in Adelaide. Bradman had listed

Tendulkar in an all-time XI list prepared by him. Tendulkar holds almost every Test

batting record, except for Bradman‟s average.

India ranks 142nd in the Doing Business 2015 Report

India was ranked 142nd among 189 nations in the World Bank‟s Ease of

DoingBusines Report. „Doing Business 2015: Going Beyond Efficiency‟ is a World Bank

Group flagship publication

Countries performing well

Singapore topped the list of business-friendly economies globally for the ninth consecutive

year.

India re-elected to ECOSOC

India won its re-election to the EcoSoc. This win comes just a week after India‟s re-election to

the UNHRC. On election, members serve a three year term. India‟s previous term was

scheduled to end in 2013. Now, on re-election, India will serve another three year term

beginning on 1st January, 2015.

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Re-election to the EcoSoc

A country requires two-thirds of the total votes to become a member. EcoSoc has a total of 54

members. The countries serve for overlapping periods of three years. In October this year, all

the members of the UNGA voted to elect 18 members from amongst themselves to the EcoSoc.

India was re-elected to the 193-member UN body, EcoSoc, after receiving 183 votes. India was

re-elected with the highest number of votes in the Asia Pacific group. India was followed

by Japan and Pakistan, both of whom received 181 votes each.

Members of the EcoSoc

The newly elected members of the EcoSoc are Argentina, Austria, Brazil, Burkina

Faso, Estonia, France, Germany, Ghana, Greece, Honduras, India, Japan,Mauritania,

Pakistan, Portugal, Trinidad and Tobago, Uganda and Zimbabwe.

Jawahar Sircar elected vice president of Asia-Pacific Broadcasting Union

The CEO of Prasar Bharati, Jawhar Sircar, was elected unopposed as the Vice-President of

the Asia Pacific Broadcasting Union (ABU).

Also, representatives from Malaysian broadcaster RTM and JapaN‟s NHK were also chosen as

Vice-Presidents while the representative from South Korean broadcaster KBS was chosen as the

President.

Latest ICC Test team rankings: India stands on 6th place

Thanks to its loss to Pakistan in a match of the Abu Dhabi Test Series, India dropped to sixth

place in ICC‟s Test rankings. This ranking change shall remain irrespective of how the rest of

the Abu Dhabi Test series turns out.

Government announces TB-Mission 2020

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TB Mission 2020 is a Government of Indiainitiative to eliminate TB or Tuberculosis in India by

2020.

This mission was announced by the Health Minister at WHO‟s Global TB Symposium in

Barcelona. The symposium was titled „Moving out of the box to end global TB epidemic: with

post-2015 strategy.‟

Surya Prakash appointed as Chairman of Prasar Bharti

Surya Prakash, has been appointed as the Chairman of the Board of Prasar Bharti for a period of

three years. Prakash‟s name was recommended by a three member committee. The Committee

comprised of:-

Vice President Hamid Ansari, who is also the head of the committee

Press Council of India Chairperson, Markandey Katju

Bimal Julka, Secretary of Ministry of Information and Broadcasting

Chhatpuja Celebrated

The festival is observed most diligently in Bihar, Jharkhand, Eastern UP and the Terai regions

of Nepal

India signs pact with Vietnam for exploration of two oil and gas blocks

India and Vietnam signed seven agreements after PM Modi met his counterpart Nguyen Tan

Dung. The two also held talks on a wide range of bilateral and regional issues, and called for

„freedom of navigation and commerce, and peaceful settlement of maritime disputes in the

region‟.

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Trade

Bilateral trade between the two countries has steadily improved, especially after the

implementation of the India-ASEAN Trade in Goods Agreement. The conclusion of the India-

ASEAN Trade in Services and Investment Agreements is expected to provide a further impetus

to trade. Both countries also agreed to enhance the bilateral trade targets to US $15 billion by

2020.

Defence Cooperation

India is committed to the modernisation of Vietnamese defence and security forces. India‟s

already substantial training programme for the Vietnamese forces will be expanded. Also joint

exercises will be conducted and the countries will cooperate in the arena of defence

equipment.

Cooperation in other areas

Both nations also agreed to increase cooperation in crucial areas of defence, security, trade

and counter-terrorism. They signed five pacts providing for cooperation in sectors like

„education, culture and broadcasting, conservation and restoration of the world heritage site of

My Son in Vietnam‟s Quang Nam Province and the Nalanda university project.‟

India also asked Vietnam to provide expeditious clearances to the Tata Group for its thermal

power project inVietnam which is scheduled to be completed by 2020.

Vietnam sought India‟s help for skill development in the IT sector, and also asked India to

increase seats for Vietnamese students in Indian educational institutions or consider setting up

a university in Vietnam. India offered Vietnam seats in the Petroleum university to train people

for better management of the oil and gas exploration projects.

Chinese response

Chine has been objecting to India‟s oil exploration projects in the disputed waters of South

China sea. Hours after India signed the pact with Vietnam, China warned that it would „oppose

any exploration activity in the South China Sea if it undermined its sovereignty and interests‟.

Dilma Rousseff re-elected president of Brazil

Government to soon put up Climate Change Adaptation Plan

The government has already set aside Rs. 100 cr in the budget for the development of this Plan.

Anirban Lahiri wins Venetian Macau Open

Serena Williams wins WTA Finals Singles Trophy

USA‟s Serena Williams defeated Romania‟s Simona Halep to clinch the BNP Paribas WTA

FinalsSingapore Singles title. Williams‟ won the US $2.05 mn prize money, along with the Billie

Jean King Trophy

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Sania Mirza and Cara Black win Doubles trophy of the WTA Finals

Zimbabwean national Cara Black and Indian Sania Mirza won the BNP Paribas WTA

Finals SingaporeDoubles title. They defeated the defending champions Peng Shuai and Hsieh

Su-wei.

Britain formally ends 13 year War in Afghanistan

UK has formally withdrawn from Afghanistan, ending the 13 year war that it was a part of. The

lowering of the Union Flag in Camp Bastion marked the end of Britain‟s campaign, which is

believed to be its longest involvement in a conflict in modern times.

SpaceX Dragon spacecraft returns safely

SpaceX‟s Dragon spacecraft has concluded its mission to the ISS (InternationalSpace Station)

and returned to Earth. The spacecraft was launched in September in SpaceX‟s Falcon 9 launch

vehicle. This was Dragon‟s fifth visit to the ISS.

Cargo from usa

India‟s GDP is likely to grow by 5.6 per cent in 2014-15: World Bank

The report also said that the GDP growth may rise further to 6.4% and 7% in 2015-16 and 2016-

17. Key Points:

Telecom giant SoftBank pledges USD 10 billion investment in India

Japanese telecom giant SoftBank has pledged to invest US $10 bn in India‟s IT and

communications sector in the coming years

Pankaj Advani wins World Billiards Point Format Championship

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Pankaj Advani emerged the winner at the World Billiards Championship triumph in the 150-up

points format. Advani defeated Singapore‟s Peter Gilchrist 6-2 in the finals of the World

Championship. The points format is the shorter form of the regular billiards game.

Noted freedom fighter Jagdish Sharan dies

Prominent freedom fighter Jagdish Sharan Pande passed away in Almora,Uttarakhand at age

95. He died after a prolonged illness.

Pande was a resident of Bhatkot in Uttarakhand. After his death, Pande‟s remains were

consigned to flames with full state honours.

Post-independence, Pande has been actively involved in social work.

Role in the fight for Independence

Pande was a part of Netaji Subhash Chandra Bose‟s Azad Hind Fauj. He was also jailed

in Burma during 1943-44 for his involvement.

21 Asian countries sign MoU for Asian Infrastructure Investment Bank (AIIB)

21 Asian countries, including India, have signed an agreement to become the founding

members of the Asian Infrastructure Investment Bank (AIIB). China‟s Vice-Finance Minister Jin

Liqun, who has also been the Vice-President of the Asian Development Bank (ADB), was

appointed the Secretary General of AIIB.

India’s role

China has been keen to ensure India‟s participation in the AIIB, and the Chinese President

Jinping also pushed for it when met PM Modi on the sidelines of theBRICS Summit in July. The

AIIB is in addition to the BRICS Development Bank which was also formed recently. Te BRICS

Development will be located in Shanghai, and will begin operating with an Indian as its

President.

AIIB

AIIB is an international financial institution that was proposed by China. It is expected to act as a

balance of power with the WB, IMF and ADB all being controlled/dominated by the US, EU

and Japan respectively.

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The Headquarters of the AIIB will be at Beijing, and the bank is expected to be operational in

2015.

According to the agreement, the authorised capital of AIIB is US $100 bn and the initial

subscribed capital is expected to be around US $50 bn. The paid-in ratio will be 20%.

The 21 members of the AIIB are China, India, Thailand, Malaysia, Singapore,

thePhilippines, Pakistan, Bangladesh, Brunei, Cambodia, Kazakhstan, Kuwait, Laos,Myanmar,

Mongolia, Nepal, Oman, Qatar, Sri Lanka, Uzbekistan, and Vietnam.

Government announces RS. 745 Crore Package for J & K

PM Modi visited J&K on the occasion of Diwali to review the relief and rehabilitation efforts

Government clears defence projects worth 80,000 cr

The Defence Acquisition Council has given the clearance to defence projects amounting to

80,000 cr. Multiple deals that involve either upgradation of equipments or capability

enhancement of the Navy were given approval. Other projects that have been approved are:-

Indigenous production of six submarines

Procurement of 8,000 Israeli anti-tank guidedmissiles

Procurement of 12 upgraded Dornier surveillance aircraft with enhanced sensors from HAL

at Rs. 1,850 cr

Purchase of 8,356 Anti Tank Guided Missile from Israel worth Rs 3,200 cr (This is being

bought instead of USA‟s Javelin missile). The Army will also purchase 321 launchers for the

missile

Purchase of 362 infantry fighting vehicle from the Ordinance Factory Board in Medak, West

Bengal for Rs 662 cr

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Purchase of 1,761 units of five spoke 7.5 tonne radio containers for Rs 662 cr and 1,768

critical rolling stock – open and closed wagons for transport of military equipments at a cost

of Rs 740 cr from domestic vendors

Purchase of equipments for classified operations of the Navy

Birth anniversary of Sardar Patel, 31 October to be celebrated as Rashtriya Ekta Diwas

The Birth Anniversary of Sardar Vallabhbhai Patel, which falls on 31 October, will be celebrated

asNational Integration Day of Rashtriya Ekta Divas from now on.

Objective of the Commemoration

The government will attempt to create awareness among the people about Sardar Patel‟s

contribution towards India‟s freedom struggle and ensuring national integration in India.

Sardar Patel played a pivotal role in the merger of princely states with British ruled India to

form a sovereign united country called India

Rashtriya Ekta Divas (RED)

The government will try to make RED a mass movement, reaching people from all avenues of

life. The participation of the people shall be voluntary.

On October 31 this year, the PM will participate in the event and broadcast a short radio

address.

In the morning of October 31, a „run for unity‟ marathon will be organized in cities, towns and

villages all over India. In the evening, Police and other organizations like the NSS, NCC, Scouts

and Guides, Home Guards etc will march on the streets in all district headquarters.

Sardar Vallabhbhai Patel

Sardar Patel was born on 31 October, 1875 at Karamsand, Gujarat. He was a barrister with a

successful law practice, before he left the law to join the Indian national movement under

Gandhi. He played a major role in organizing peasants‟ movements in Kheda and Bardoli in

Gujarat, and during the Quit India movement. His biggest contribution to India was his role in

the integration of the over 500 princely states with India during 1947-49.

International Boxing Association (AIBA) suspends Sarita Devi

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Indian boxer L.Sarita Devi has been provisionally suspended by the AIBA for refusing to accept

the bronze medal she won after losing the semifinal fight over a controversial decision at the

2014 Asian Games.

Suspension

Along with Sarita Devi, her coaches Gurbaksh Singh Sandhu, B.I.Fernandes and Sagar Mai

Dhayal andIndia‟s chef-de-mission Adille Sumariwala to the Incheon Asiad 2014 have also been

suspended. All of them are prohibited from participating in the upcoming competitions till

further notice. Other than AIBA competitions, they also cannot participate in AIBA events and

meetings. This Sarita Devi case has now been sent for review by the AIBA Disciplinary

Commission.

The suspension means that Sarita Devi will miss the upcoming Women‟s World Championships

in Jeju, South Korea which is scheduled to take place between November 13 and 25.

India-Mexico sign pacts for space cooperation

India and Mexico have signed pacts to cooperate in the field of space technology.

Joint Commission meeting

The pacts were signed at the sixth session of the Joint Commission meeting between India and

Mexico that was held in New Delhi. The meeting was presided by India‟s External Affairs

Minister, Sushma Swaraj, and her Mexican counterpart, Jose Antonio Meade Kuribrena. The

other issues discussed or decided at the meeting are:-

UNHRC asks China to ensure universal voting rights in Hong Kong

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The UNHRC ( United Nations Human RightsCommittee) asked China to ensure universal

suffrage in Hong Kong, specifying that universal voting rights included the right to stand for

election as well as the right to vote.

Role of UNHRC in Hong Kong

The UNHRC monitors compliance with aninternational treaty on civil and political rights,

namely the International Covenant on Civil and Political Rights (ICCPR), in Hong Kong.

Therefore, it is concerned with violations of the treaty in Hong Kong.

Nigeria declared Ebola free by World Health Organisation

Nigeria has been declared officially free of Ebola by the WHO. Earlier, WHO also declared

Senegal Ebola free.

Manohar Lal Khattar to be new Chief Minister of Haryana

Marin Cilic wins Kremlin Cup

Second seeded US Open champion Marin Cilic ofCroatia won the Kremlin Cup ATP title in

Moscow. He defeated fifth seeded Spaniard Roberto Bautista-Agut in the final. Cilic became the

first Croatian to win the Moscow ATP 250 tournament since his coach Goran

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India wins Sultan of Johor Cup title

India faced Great Britain at the Taman Daya Hockeystadium in Johor Bahru in Malaysia for the

finals of the Sultan of Johor under 21 hockey Cup.

China-Afghanistan-Pakistan Trilateral dialogue held

October 22, 2014

China, Afghanistan and Pakistan held a trilateral dialogue to chalk out a roadmap for regional

cooperation and strengthen ties with each other. This is the second such dialogue. The first

dialogue was held in 2013 in Beijing.

Five year Indian boy climbs Kalapathar peak, sets world record

Harshit Saumitra, a five year and eleven month old Indian has successfully climbed Kalapathar

peak. Harshit Saumitra is the son of a famous mountaineer, Rajeev Saumitra.

Japan rolls out Mitsubishi Regional Jet (MRJ), its first commercial jet in 50 years

SAARC Framework Agreement for Energy Cooperation finalized

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The SAARC Framework Agreement for Energy Cooperation (Electricity) was finalized at the

5thSAARC Energy Ministers Meeting and will be signed by all the parties at the upcoming

SAARC Summit that is to be held in November 2014 in Kathmandu,Nepal.

SAARC Framework Agreement for Energy Cooperation

This agreement has been pending since 2010 and is an important step in developing a SAARC

Market for Electricity (SAME) on a regional basis. Bangladesh will convene the meeting of

Energy Regulators or Agencies in SAARC countries by December 2014.

India’s role

India has offered to host a seminar on “Sharing Experiences on Energy Pricing Mechanism in

the SAARC Region” and also host the second meeting of the Expert Group on

Technology/Knowledge Sharing (including Energy Efficiency, coal, etc.) in 2015.

SAARC

SAARC or the South Asian Association for Regional Cooperation was established in 1985, with

its secretariat in Kathmandu, Nepal. SAARC is an association of eight countries in South Asia.

The idea of the regional body was first proposed by the Bangaldeshi President Zia-ur-Rahman

in 1980, when the proposed creation of a trade bloc consisting solely South Asian countries.

Afghanistan is the most recent, and eighth addition to the grouping. It was added at the behest

of India, on 13 November, 2005. China, EU, USA, SouthKorea,

Iran, Myanmar, Australia and Mauritius are observers to SAARC.

Ministerial level Energy forum

The process of regional cooperation in the energy sector began in January 2000 with the

establishment of a Technical Committee on Energy. At the 12th SAARC Summit in 2004, the

Islamabad Declaration called for the constitution of a Ministerial level Energy Forum was

constituted. The first meeting of the SAARC Energy Ministers was held at Islamabad in 2005.

India-LAC investment conclave concludes

The India-LAC (Latin America and Carribean)investment conclave was held under the auspices

of FICCI (Federation of Indian Chambers of Commerce andIndustry) and Ministry of Commerce

and Industry on October 16 and 17.

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Objectives of the conclave

The objectives of the conclave are as follows:-

Provide insights to LAC region industries on lucrative investment opportunities available in

India

Provide Indian industries insight into the LAC region to enable them to develop suitable

strategies to penetrate the LAC region markets

Facilitate partnerships between industries in the Indian and LAC region

Enable government representatives from both regions to enhance economic engagement

between India and LAC region.

Rajiv Mehrishi appointed as Secretary, Department of Economic Affairs

The Central Government has replaced FinanceSecretary Arvind Mayaram

with Rajasthan Chief Secretary Rajiv Mehrishi. Mayaram is being shifted to

the Tourism Ministry

Arvind Subramanian appointed new Chief Economic Advisor of India

Highlights of President Pranab Mukherjee‟s visit to Norway and Finland

President Pranab Mukherjee returned from a five day visit to Norway and Finland on October

17. He signed a multitude of agreements during his time there.

Nuclear Energy

India signed an agreement for nuclear cooperation with Finland. The agreement was signed

between the Atomic Energy Regulatory Board (AERB) of India and the Radiation and Nuclear

Safety Authority of Finland. Other than nuclear cooperation, radiation safety regulation,

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exchange of information and personnel related to the peaceful use of nuclear energy will be

the spheres of collaboration.

Trade

India and Finland agreed to double bilateral trade to $2 bn over the next three years. Around

19 agreements for cooperation across various fields likeeducation, biotechnology, nuclear and

radiation safety, and renewable energy were signed to further increase the bilateral trade.

Energy cooperation

A joint venture partnership agreement was signed between Chempolis Oy and Numaligarh

Refinery Ltd. to build India‟s first BioRefinery.

Science & Technology

An MoU was signed between the Department of Biotechnology and Tekes, the Finnish Funding

Agency for Innovation to increase cooperation in the field of biotechnology. This will help the

two countries collaborate in the areas of diagnostics in health and well being through joint

funding of projects and workshops.

Agreements with Norway

India and Norway also signed a plethora of agreements to increase cooperation

in defence, science and technology, education and other areas.

Nuclear capable Cruise Missile Nirbhay tested successfully

India successfully tested Nirbhay, India‟s first indigenously designed and developed long

range sub-sonic cruise missile. The missile was fired from the Integrated Test Range at

Balasore, Odisha. Nirbhay maintained an accuracy better than 10 m throughout its path and

covered a distance of more than 1000 km.

Indigenously developed missile

Nirbhay is made wholly of parts indigenously developed in India. It is powered by a solid

rocket motor booster developed by the Advanced Systems Laboratory (ASL) and the launch was

from a mobile launcher specifically designed for Nirbhay by the Vehicles R&D Establishment

(VRDE). The missile was guided by a highly advanced inertial navigation system developed by

Research Centre Imarat (RCI). The missile was tracked with the help of ground based radars,

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and the missile was monitored through telemetry stations by a team from DRDO and LRDE

(Electronics & Radar Development Establishment).

Prior launch attempt

HRD ministry to introduce Tithi Bhojan in Schools in Mid Day Meal scheme

The Human Resource Development (HRD) Minister has announced its decision to introduce the

practice of „Tithi Bhojan‟ as a part of the Mid Day Meal scheme. The HRD Minister headed a

meeting of the Empowered Committee on Mid Day Meal Scheme to review the functioning of

the Mid Day Meal scheme. The meeting consisted of representatives of State Governments,

Food and Nutrition experts and senior officers of the Central Government. The Committee was

formed last year.

Tithi Bhojan

Some of the features of Tithi Bhojan are:-

Tithi Bhojan was first successfully implemented in Gujarat, and will now be replicated across

the country

It seeks to involve the members of the community in the effort to provide nutritious and

healthy food to the children

The members of the community may contribute/sponsor either utensils or food on special

occasions/festivals. This is completely voluntary, and the people in the community may

contribute food items supplementary to the mid day already being provided like sweet,

namkeen or sprouts.

Greater participation and involvement of religious and charitable institutions is also being

promoted

First meeting of bilateral border mechanism between India-China held

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The first meeting of the talks on the bilateral border under the framework of the Border Affairs

Working Mechanism for Consultation and Coordination (BAWMCC) was held on October 16.

The focus of the talks was on issues of mutual interest like border patrolling and management.

BAWMCC

The BAWMCC was created in 2012, as a forum to address issues arising out of aggressive

patrolling along the contentious border. The BAWMCC is co-chaired by the Joint

Secretary (China Division) in the Ministry of External Affairs and his/her Chinese

counterpart. The goal of the BAWMCC is to prevent recurrence of incidents between the

two countries like the one in Chumar. Also, the BAWMCC calls for discussion of issues

related to border management by foreign ministry anddefence officials, in an effort to

maintain peace. The disputed boundary issue is discussed by special representatives.

India successfully launches IRNSS 1C

IRNSS 1C, the next satellite in India‟s IRNSS (Indian Regional Navigational Satellite System)

series, was launched successfully on October 16 by ISRO. IRNSS 1C was launched on a PSLV

C26 from Sriharikota. The satellite is similar to, and follows the IRNSS 1A and 1B which were

launched in April 2013 and July 2014 respectively.

Details of launch

India-Canada hold Strategic Dialogue

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The second India-Canada Strategic Dialogue was held in New Delhi on October 14. The

dialogue was co-chaired by Indian External Affairs Minister Sushma Swaraj and Canadian

Foreign Affairs Minister John Baird. Baird who is on a five day visit, also met PM Modi and

discussed various bilateralmatters.

PM Modi is set to meet the Canadian PM Harper inAustralia, on the sidelines of the G-20

summit.

Strategic Dialogue

At the meeting, the two sides discussed a variety of bilateral issues including but not limited

to defence, energy, nuclear cooperation, counter-terrorism, global and regional security. The

two countries are also working towards early conclusion of the Comprehensive Economic

Partnership Agreement (CEPA) and BilateralInvestment Promotion and Protection Agreement

(BIPPA).

Pakistan launched housing project in Sri Lanka

Pakistan has launched a project to build houses in Mannar in Sri Lanka. A cheque of $ 1 mn has

been handed over to Sri Lanka by the Pakistan side to carry out the project.

World Standards Day Observed on October 14

inflation drops to 2.38% , five-year low

According to provisional estimates for the month of September 2014, WPI (Wholesale Price

Index) based inflation has fallen to 2.38% which is a five year low. This is mainly attributed to

the decline in food and fuel prices. Also, the decline was far greater than the 3.2% that was

forecast by analysts.

Richard Flanagan wins Man Booker Prize

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October 16, 2014

The Man Booker Prize 2014 for fiction was awarded to Australian author Richard Flanagan, for

his novel The Narrow Road to the Deep North.

India and Norway sign agreements, MoUs during President‟s visit to Norway

President Pranab Mukherjee is on a six day visit to the Scandinavian countries

of Norway and Finland.He is the first Indian President to visit Norway. A plethora of agreements

and MoUs were signed by the two countries

Agreement on Visa Exemption

India has signed an agreement with Norway that will exempt Indian holders of diplomatic and

official passports from the requirement of obtaining a visa. This agreement is expected to

promote bilateral relations between the two countries, and facilitate easy travel between the

two countries for the officials and government representatives.

MoUs

The two countries have also signed 11 MoUs in the fields of education, scienceand technology,

research and development etc. One of the MoU involves setting up of modern fish farming unit

outside Delhi.

Statement of Intent

India‟s DRDO (Defence Research and Development Organisation) and Norway‟s Defence

Research Institute has signed a Statement of Intent expressing their inclination to collaborate

together.

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Nobel Peace Prize 2014

The Norwegian Nobel Committee has awarded the 2014 Nobel Peace Prize to Kailash Satyarthi

and Malala Yousafzai for their “struggle against the suppression of children and young people

and for the right of all children toeducation.”

Nobel Prize Literature 2014

The Nobel Prize in Literature for 2014 has been awarded to the French author, Patrick Modiano,

“for the art of memory with which he has evoked the most ungraspable human destinies and

uncovered the life-world of the occupation”.

Mark Zuckerberg visits India-stresses connectivity for whole world

Founder and CEO of Facebook, Mark Zuckerberg, is in New Delhi on a two day visit to India. He

will launch the global internet project, Internet.org in Delhi.

While in India, Zuckerberg met PM Modi and later spoke of Digital India initiative and said it

was a positive development. His visit comes months after the visit of Facebook COO, Sheryl

Sandberg.

Internet.org

Internet.org is a global partnership between leaders in the field of technology, NGOs, local

communities and experts who work together to bring internet connectivity to the two-thirds of

world‟s population that doesn‟t have access to internet now.

Through Internet.org, Zuckerberg aims to m

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World Bank Launches Global Infrastructure Facility (GIF)

The World Bank (WB) has launched the GIF to specifically cater to the infrastructure needs of

the emerging economies and developing countries. The GIF will channel money towards

bankable infrastructure project in such countries. GIF also places importance on sustainable

development. Its key focus will be on climate friendly infrastructureinvestments and projects

that will boost trade.

The GIF will collaborate with other international and multilateral agencies which provide loans

and financial assistance to countries across the globe.

Jean Tirole wins Nobel Prize for Economics -2014

The Nobel Prize for Economics was awarded to Jean Tirole “for his analysis of market power

and regulation”. He will be awarded prize money of 8 mn Swedish krona.

Jean Tirole is the second Frenchman to have been awarded a Nobel Prize this year. Tirole has

been very vocal about the need for greater regulation of banks, and has been in the news for

his views ever since the financial crisis of 2008.

Chemistry Nobel Prize 2014

The Royal Swedish Academy of Sciences has announced that the Nobel Prize for Chemistry for

the year 2014 is being awarded to Eric Betzig, Stefan W. Hell and William E. Moerner “for the

development of super-resolved fluorescence microscopy”.

About Eric Betzig

Eric Betzig is an American citizen who born in 1960 in USA. He is a Group Leader at the Janelia

Research Campus at the Howard Hughes Medical Institute in USA

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About Stefan W. Hell

Stefan W. Hell is a German citizen who was born in Romania in 1962. He is Director at the Max

Planck Institute for Biophysical Chemistry in Göttingen, and Division head at the German

Cancer Research Center in Heidelberg, Germany.

William E. Moerner

William E. Moerner is an American citizen who was born in USA in 1953. He is the Harry S.

Mosher Professor in Chemistry and Professor of Applied Physics at Stanford University in USA.

Nobel Prize for Physics 2014

The Royal Swedish Academy of Sciences announced its decision to award theNobel Prize for

Physics to Isamu Akasaki, Hiroshi Amano and Shuji Nakamura “for the invention of

efficient blue light-emitting diodes which has enabled bright and energy-saving white

light sources”.

Isamu Akasaki

Isamu Akasaki is a Japanese citizen. He was born 1929 in Chiran, Japan and educated in

Japan. He is currently a Professor at Meijo University, Nagoya, and Distinguished Professor at

Nagoya University, Japan.

Hiroshi Amano

Hiroshi Amano is a Japanese citizen. He was born in 1960 in Hamamatsu, Japan and educated

in Japan. He is a Professor at Nagoya University in Japan.

Shuji Nakamura

Shuji Nakamura is an American citizen. He was born in 1954 in Ikata, Japan and educated in

Japan. He is currently a Professor at University of California in USA.

Nobel Prize Medicine winners 2014

John O‟Keefe and Norwegian couple May-Britt and Edvard Moser have won the

2014 Nobel Prize for medicine for their work which has led to discovering the brain‟s internal

positioning system.

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John O‟Keefe

John O‟Keefe is a 74 yr old American-British Professor of Cognitive Neuroscience

at University College in London.

In 1971, Dr. O‟Keefe was studying the hippocampus, when during an experiment on rats he

discovered that certain nerve cells got activated when the rat was in a particular spot. If the rat

changed its place, then different nerve cells in the rat‟s brain got activated. This led to his

conclusion that the cells weren‟t just registering the location but they appeared to be making

circuits that constituted an inner map or „GPS‟ of the place. He realized that the hippocampus

was a spatial system where the memory of a certain place gets stored a particular combination

of the nerve cells.

May-Britt and Edvard Moser

May-Britt Moser aged 51 and Edvard Moser aged 52 are a married team of

neuroscientists working at the Norwegian University of Science and Technology in Trondheim.

In 2005, the Mosers‟ worked with O‟Keefe to further his work. They conducted similar

experiments on rats, where they discovered that nerve cells in entorhinal cortex which is near

the hippocampus got activated when the animals passed certain places. These nerve cells

together laid out a grid like pattern enabling the rat to navigate spatially.

Research

Before the work done by these three scientists, we didn‟t have a sense of how the brain

processed maps at a cellular level. Their work helps researchers delve deeper into how strokes

and Alzheimer‟s affect the brain, with the help of their inner navigational chart.

Indian Super League inaugurated in Kolkata

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The Hero Indian Super League (ISL) was launched amid festivities at Kolkata‟s Salk Lake

Stadium on October 12 in the presence of fans, industrialists, celebrities and politicians. The

inaugural ceremony was celebrated with dances and fireworks. The ISL is a professional

Indian football league

India to provide four million US dollars for rebuilding the Gaza Strip

At the International Gaza Donor Conference in Cairo,India pledged to donate US $ 4 mn in aid

to rebuildGaza Strip. The Conference is to raise money for rebuilding efforts in Gaza after its

latest 50 day war with Israel.

Roger Federer wins first Shanghai Masters title

The world number 3 ranked Roger Federer, fromSwitzerland, defeated Gilles Simon

from France to win the Shanghai Masters Title. Gilles Simon is unseeded.

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This is the first Shanghai Masters title win for Roger Federer. In 2010, Roger Federer lost to

Andy Murray in Shanghai Masters Final. This is Roger Federer‟s 81st career title. He has also

won 17 Grand Slams

Shanghai Masters Title

This tournament is a part of the ATP World Tour Masters 1000. It is played on a hardcourt at Qi

Zhong Tennis Center in Minhang district of Shanghai. The 2013 singles title of the Shanghai

Masters went to Novak Djokovic

Lewis Hamilton wins inaugural Russian Formula One Grand Prix

Englishman Lewis Hamilton, driving for Mercedes, won the inaugural Russian Formula

One Grand Prix held at Sochi. Hamilton had started on pole position. With this win, Mercedes

also clinched its first F1 Constructor‟s title. The race was witnessed by the Russian President

Vladimir Putin. The location of the competition was at Sochi, the location where the Winter

Olympics were held.

Captain Abbas Ali of Azad Hind Fauz passes away

Captain Abbas Ali who was a part of Indian NationalArmy passed away due to a cardiac arrest.

He had been a notable figure and was a part of British Indian Army in 1939 before the break of

WWII. He later joined Indian National Army when Netaji raised the issue of armed revolt.

Capt. Abbas Ali was then arrested, court marshalled and further given a death sentence.

However, whenIndia gained independence and he was released from prison fortunately before

his death sentence was to be executed.

He was greatly influenced by the socialist leaders Ram Manohar Lohia, Acharya Narendra Dev

and Jayaprakash Narayan and took a step into the political sphere under their guidance.

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In 1966, he was appointed State General Secretary of Sanyukt Socialist Party and a member of

the national executive of the Socialist Party. He was again arrested during the National

Emergency under the Defence of India rule and it was only when emergency was lifted in 1977

and Janata government came to power that he was released and he was elected to Uttar

Pradesh Legislative Council and was appointed as the first President of Uttar Pradesh Unit of the

Janata Party.

Key Facts about Sansad Adarsh Gram Yojana

On the birth anniversary of Jayaprakash Narayan, PM Modi launched the Sansad Adarsh Gram

Yojanakeeping his commitment, he made to the nation in his Independence Day speech.

The scheme is properly and religiously implemented will revolutionize the village economies

and culture. It encourages MPs or Sansads to identify and develop one village from their

respective constituency as a model village by 2016 and two more by 2019. This will ensure

development of 2500 villages. Here are some of the highlights of the Yojana:

MPs are required to pick one village with a population of 3000-4000 in plains and 1000-3000

in hills within a month of the launch.

MPs cannot pick villages which belong to themselves or their spouses.

The scheme requires them to draft a village development plan, motivate inhabitants to

participate in growth via different activities, identify gaps in funding and mobilising MPLAD

funds to create additional resources specifically from CSR initiatives of various corporate

houses, in areas of sanitation and water supply.

The outcomes of the same should cover a wide spectrum of indicators like health, nutrition

and education through organising and monitoring immunization drives, improving standard

and quality of mid-day mealschemes, improving Aadhaar enrolment, setting up “smart

schools” with IT-enabled classrooms and e-libraries, Panchayat infrastructureimprovement

under schemes such as MGNREGA and Backward Regions Grants Fund etc.

Social development and harmony should be encouraged through activities like identifying

and celebrating a village day, a village song and also laying stress on alternate modes of

dispute resolution.

The scheme also has provisions to plug all gaps which were hitherto a mark of every

government yojana. The implementation will be ensured by web-based monitoring and an

initial 5-month review by an independent agency. District Collectors will carry ground-level

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surveys along with monthly review meetings to monitor progress . At the State-level too,

Chief Secretaries will head empowered committee on the same and the Minister for Rural

Development and Secretary, Rural Development, will chair two national-level committees to

track the scheme.

This will transform lives of many for whom economic development never happened and also

bring about a sense of pride, volunteerism, and self-reliancein villages.

International Day of the Girl Child Observed on October 11

. The theme of this year was Empowering Adolescent Girls: Ending the Cycle of Violence.

India‟s Current Foreign Exchange Reserves: $311.427 billion

World Mental Day observed on October 10

The theme for 2014 is “Living with schizophrenia”. The aim is to help people build and lead

a normal life with schizophrenia. It seeks to introduce to the sufferers newer vistas for life

and growth.

Government sets up „Japan Plus‟ team

India has set up a „Japan Plus‟ management team to follow through on the $35 bn that Japan has

promised to invest in India over a span of five years via PPP and overseas development

assistance. This is a follow through on the agreements and initiatives agreed to by India and

Japan during PM Modi‟s visit to Japan.

Japan is the fourth largest foreign investor in India. It contributes to approximately 8% of India‟s

total FDI inflows. It is already actively involved in various infrastructure projects in India.

Government announces establishment of Maulana Azad National Academy for Skills (MANAS)

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The Minister for Minority Affairs, Najma Heptullah, announced the establishment of a nation

level skill development Academy, “Maulana Azad NationalAcademy for Skills” (MANAS) with

headquarters inDelhi.

MANAS will focus on providing skills, upgrading abilities and training members of minority

communities in those sectors of the economy which are either facing a shortage or labour or

where demand for labour is expected to surge. MANAS will also train people so that they may

be self-employed. The National Minorities Development and FinanceCorporation (NMDFC) will

provide assistance with credit for persons who have undergone training at MANAS and wish to

establish their own business or be self employed. MANAS will also collaborate with multiple

national andinternational agencies to provide certification and assistance with placement for

the trainees, and also to secure funding for the program.

A MoU was also signed by MANAS and the National Skill Development Corporation to establish

an All India Collaborative Network for MANAS.

Madhya Pradesh launches Global Investors Summit

Madhya Pradesh has launched the 2014 edition of it Global Investors Summit. The event will be

held from October 8 to October 10 in Indore. Indore is considered the business capital of

Madhya Pradesh. Through the Global Investors Summit, the government seeks to display the

strengths and industrial prowess of Madhya Pradesh. It is a bid to attract Indian and foreign

investors to Madhya Pradesh. The Global Investors Summit will also act a forum for interaction

between the Indian entrepreneurs, heads of states, policy makers, investors and other

stakeholders.Multiple countries are also expected to be a part of the Global Investors Summit.

Kenyan President Uhuru Kenyatta to become first sitting President to appear at ICC

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Kenyan President Kenyatta has confirmed his appearance at The Hague, Netherlands on

October 8 to respond to multiple charges against him at the ICC (International Criminal Court).

Resignation

In an unprecedented move, Kenyatta has invoked a hitherto unused article of the Constitution to

resign temporarily, with the Deputy President, William Ruto, taking his place as Acting

President till the return of Kenyatta. This step has been taken because Mr.Kenyatta has insisted

that he will appear before the ICC in his personal capacity and not as the President of a nation.

It is to be noted that Kenyatta had also appeared at the ICC before he became President in

2013.

Kenyatta will risk an international arrest warrant and international condemnation against him

personally and economic sanctions against Kenya, if he failed to comply with the summons

issued by the ICC.

Charges against Mr.Kenyatta

Kenyatta faces five charges of crimes against humanity, inciting violence and organizing ethnic

massacres that killed 1,200 people. He has denied all the charges that have been brought

against him.

In September, the ICC postponed the trial after prosecutors said the Kenyan government had

failed to submit important documents. The case of the prosecution is weak as of now because

several prosecution witnesses have withdrawn from the case. The ICC has summoned Kenyatta

for a status hearing so he may explain allegations that evidence against has been withheld by

the Kenyans. His request to participate by video was rejected by the Court.

Shahrukh Khan awarded with Global Diversity Award 2014

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Indian actor Shahrukh Khan was awarded the Global Diversity Award 2014 for his outstanding

achievements in the field of cinema and his involvement in philanthropic endeavors in UK

China test fires long range missile Dongfeng-31B

China test fired a new variant in its Dongfeng-31 missile range on September 25

Dongfeng-31A

It is a 10,000 km long range missile that is capable of targeting Europe and the West Coast of

USA. It can strike with three warheads, including nuclear warheads.

Dongfeng-31B

This is latest variant, and an advanced form of Dongfeng-31A. This is also a long range missile

with a reach of 10,000 km. However, it can carry multiple nuclear warheads, unlike Dongfeng-

31A which is restricted to three.

Dongfeng-41

China is also working on developing a Dongfeng-41 missile. Dongfeng-41 is expected to have a

range of 12,000 km which will enable it to target all the parts of USA.

ISRO to launch M3M satellite of Canada

Canada‟s M3M (Maritime Monitoring and Messaging Micro-Satellite) is set to be launched

by India‟s PSLV rocket. The agreement for the same was signed by India‟s Antriux Corp. and

Canada‟s COM DEV Intl. The satellite is due to be launched in July 2015. The satellite was built

for the Canadian Department ofNational Defence, and is a communications satellite. The

satellite was built at a cost of $21 mn by COM DEV Intl.

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Initially, the satellite was to have been launched on a Soyuz rocket in Russia. However, in light

of the international restrictions on trade with Russia due to the Crimea and Ukraine crisis,

Canada decided not to go ahead with the arrangement.

Chennai Super Kings clinches Champions League Twenty-20

In the Champions League Twenty-20 final match, Chennai Super Kings defeated Kolkata Knight

Riders by 8 wickets to win the Champions League Trophy.

Player of the Match

P.Negi of the Chennai Super Kings was named the Player of the Match.

Past Performance

This is the second Champions League win for the Chennai Super Kings, who won earlier in

2010.

Champions League Twenty-20

This is an international Twenty-20 cricket competition played between major domestic teams

from cricketing nations. It has been an annual event from 2009. The League is jointly owned by

BCCI, Cricket Australia and Cricket South Africa.

Australia and Canada join US-led military action against ISIS

Australia and Canada are the latest additions to the countries providing military support to the

American led war on ISIS in Iraq and Syria.

Asiad 2014: Both Men‟s and Women‟s Kabaddi teams bag Gold for India

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The Indian Women‟s Kabaddi team defeated Iran to the win the gold at the Asian Games. This

is the second successive Asian Games win for the team since women‟s kabaddi was introduced

in 2010 in the Guanzhou Asian Games. The Indian Men‟s kabaddi team also won a gold at the

Asian Games. India has won a gold consistently since the game‟s introduction in the 1990 Asian

Games in Beijing. This is the men‟s team‟s 7th successive win.

After 16 years, India wins hockey gold at the Asian Games

After a gap of 16 years, India defeated Pakistan in the Men‟s Hockey finals of the Asian Games ,

to win the gold medal. India had earlier won the gold in 1966 and 1998, while Pakistan has

clinched the gold eight times in the past including the Asian Games at Guangzhou in 2010.

Olympics

This win ensures India‟s direct entry to the 2016 Summer Olympics that is scheduled to be held

at Rio de Janeiro. This will be a refreshing change after the 2012 London Olympics where India

had struggled and qualify and finished last in the competition in the end.

Women’s Team

The Indian hockey women‟s team defeated Japan to win the bronze medal at the Asian Games.

Government announces Rs. 20 lakh for each village Panchayat for the clean India mission.

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More than 2,47,000 gram panchayats across the country will receive Rs. 20 lakh each per

annum for the Clean India campaign of Swachh Bharat Abhiyan that was launched by the PM on

October 2.

The discretion as to what project/work the funds should be used for is upto the gram

panchayat, but it will have to be used towards improving sanitation.

Allocation of funds

This 20 lakh per gram panchayat will be provided from the Rs, 1,96,000 crore that will be spent

on the Swachh Bharat Abhiyan over a period of five years. Of this, the Ministry of Urban

development has been allocated Rs. 62,000 cr for cleanliness and sanitation of urban areas

while the Ministry of Drinking Water and Sanitation has been allocated Rs. 1,34,000 cr for the

programme

Source of Funds

Only a marginal portion of the funds will be appropriated from the Central Government. The

remainder of the funds will be raised through PPP mode by Stated and urban local bodies,

private sector, levy of user charges, Corporate Social Responsibility, Swachh Bharat Kosh and

other such measures.

Nation celebrates Gandhi and Shastri Jayanti

On 2 October 2014, India celebrated the birth anniversaries of two of its greatest leaders and

freedom fighters, Mahatma Gandhi and Lal Bahadur Shastri, on October. Multiple events across

the nation were held in remembrance of the two leaders. Various schools and institutions

conducted events and functions to commemorate the day. Politicians paid their respects to

Gandhi and Shastri at Raj Ghat and Vijay Ghat respectively.

Swachh Bharat Abhiyan

A cleanliness drive under the Swachh Bharat Abhiyan was launched by the PMNarendra Modi.

This also marks the launch of the programme itself. Many cleanliness drives across the nation

were organized under the programme. Cleanliness pledges were taken by people over the

country, including the PM.

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Lal Bahadur Shastri

2014 marks the 110th birth anniversary of Shastri. He was an active participant in the Indian

freedom struggle since 1920. He also has the distinction of being the second PM of India, when

he took over after the untimely demise of Jawaharlal Nehru. HE has also been Minister of Home

Affairs and Minister of External Affairs. He is most famous for his slogan, „Jai Jawaan, Jai Kisan‟.

He revolutionized the agricultural sector during his tenure. He also oversaw the florishing of the

Amul Co-operative which heralded a White Revolution in the country. He led the country

successfully through the 1965 war with Pakistan. He passed away on January 11, 1966, just after

signing the Tashkent Pact. He was posthumously conferred the Bharat Ratna.

Mahatma Gandhi

2014 marks the 145th birth anniversary of Gandhi. Gandhi was one of the main leaders in the

Indian national movement fighting for freedom from the British. A lawyer by profession, Gandhi

had been educated in the UK and had a practice in South Africa before returning to India. The

date of his return to India is celebrated as Pravasi Bharatiya Divas to acknowledge the large

Indian expatriate community spread across the world. Gandhi‟s methods, that involved non-

violence, non co-operation and civil disobedience, found mass appeal in India. He also

criticized practices such as untouchability. He is considered by most Indians to be the father of

the nation. He was assassinated in January 1948.

Key Outcomes of Narendra Modi‟s US visit

A joint editorial released by India and US highlighted the following developments in

the bilateralrelationship of the two countries:-

Indo- US Investment Initiative

Establishment of an Indo- US Investment Initiativeled by the Ministry of Finance on the Indian

side and the Department of Treasury on the American side, with special focus on capital market

development and financing of infrastructure. This Initiative will focus on increasing investment

by institutional investors and corporate entities

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Infrastructure Collaboration Platform

Establishment of an Infrastructure Collaboration Platform convened by the Ministry of

Finance on the Indian side and the Department of Commerce on the American side to facilitate

the participation of American companies in Indian infrastructure projects

Trade Policy Forum

The two countries committed to work through the Trade Policy Forum to promote

a business environment that was conducive for companies to invest and manufacture in both in

India and US. Also, an annual high-level Intellectual Property Working Group as a part of the

Trade Policy Forum will be formed to look into issues related to innovation.

Others

The two leaders also committed to hold public-private discussions in the early part of 2015

under the already existing Commercial Dialogue on new areas of cooperation, including

innovation in advancedmanufacturing

After reiterating their commitment to working together towards the creation of a new global

agreement on climate change, they agreed to hold an urgent meeting of their bilateral task

force on HFCs (hydrofluorocarbons) prior to the next meeting of the Montreal Protocol

The two leaders launched a new US – India Climate Fellowship Program to build each

other‟s long term capacity to address climate change related issues

A MoU between the Export-Import Bank and the Indian Renewable Energy Development

Agency was signed. This MoU would make up to $1 bn in financing available to India to help

its transition to a low carbon and climate resilient energy economy, at the same time

boosting American renewable energy exports to India

The countries also agreed to a 10 year extension of the 2005 Framework for the US –

India Defense Relationship

The two leaders decided to intensify cooperation in maritime security, mainly by enhancing

technology partnerships for India‟s Navy and also upgrading the existing military exercise

Malabar.

USA pledged to help India counter the threat of IEDs (improvised explosive devices) through

I&T (information and technology)

The two leaders appreciated the establishment and planned first meeting of the NASA-ISRO

Mars Joint Working Group under the U.S.-India Civil Space Joint Working Group and hoped

for further co-operation in the area of space technology

The two countries agreed to launch a new phase of the India-U.S. Vaccine Action Program

and emphasis on developing affordable vaccines for dengue, malaria, and TB

The two countries pledged to work together towards the export of nuclear technology from

US to India to make India more self-reliant. In furtherance of this, the countries decided to

continue working towards India‟s phased entry into the Nuclear Suppliers Group (NSG), the

Missile Technology Control Regime (MTCR), the Wassenaar Arrangement and

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the Australia Group. The American President expressed his support for India‟s early

application and eventual membership in all four regimes.

Nagaland clinches Subroto Cup U-14 Trophy

Greenwood High School, Nagaland defeated Government Model High School, Chandigarh, 5-4

at the Ambedkar Stadium, New Delhi to win the under 14 title in the 55th edition of the Subroto

Cup.

Awards

The winning team was awarded Rs. 2.5 lakh while the runners up were given 1.25 lakh. Harsh

Bartwan of the team from Chandigardh was adjudged Best Player of the tournament, while Jesse

and Mughato Sumi from Nagaland won Best Keeper and Best Coach respectively. All three were

awarded Rs. 40,000 each. Eugeneson E. Shylla from Meghalayawas given the award for the Best

Promising Player. The Fairplay Award was given to Namchi Sports Hostel fromSikkim

Justice GS Singhvi appointed chairman of Competition Appellate Tribunal

Afghanistan and United States sign Bilateral Security Agreement

After much delay, Afghanistan and US have signed a BSA (Bilateral Security Agreement) that

will chart the course for the two countries post withdrawal of majority of American troops. The

BSA was signed in Kabul. This long term security pact will be crucial in deciding the nature of

internal security in Afghanistan.

Yudh Abhyas 2014 concludes at Ranikhet

The Indo-US defence exercise titled Yudh Abhyas concluded near Ranikhet. The exercises,

which commenced on September 17, were conducted in both Chaubbatia and Ranikhet. This

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edition of Yudh Abhyas, which lasted a total of 14 days, is the 10th of its kind that has been held.

The joint exercise brought together troops from a Mountain Brigade of the Indian Army and

Company and Brigade Headquarter of the US Army.

Key points from „Chalein Saath Saath: Forward Together We Go‟

The „Chalein Saath Saath: Forward Together We Go‟ vision statement speaks of strengthening

the strategic partnership between India and USA. This statement was released during PM

Modi‟s visit to Washington DC to meet President Obama. The statement expressed the

following points:-

The strategic partnership of the two nations rests on the shared mission to provide equal

opportunity to its people through democracy and freedom

The two countries are bound together by kinship and commerce, scholarship and science.

The ties between the people of both countries and their cooperation has resulted in

developments in science and the arts. This enables the leaders of both countries to have a

long term perspective as regards the partnership

One major goal of the partnership is prosperity and peace. This endeavor shall be fulfilled

through intense consultations, joint exercises, and shared technology. Security cooperation

between the two will be targeted at the region and the world at large too. The countries also

aim to work together towards combating terrorist threats, keeping its county and its peoples

safe and responding to humanitarian disasters. The countries also dedicate themselves to

stopping the spread of WMDs, reducing the salience of nuclear weapons, and promoting

universal, verifiable and non-discriminatory nuclear disarmament

Close cooperation between the two at the UN and beyond

Support for India assuming a greater multilateral responsibility, including in a reformed

UNSC and for an open and inclusive rules based global order

Working together to mitigate the impact of climate change and adapt to the

changing environment. Cooperation between the government and the science and academic

communities to address the consequences of unchecked pollution. Take steps to ensure

availability of affordable, reliable, clean and diverse sources of energy for both nations,

including by bringing nuclear power technologies of American origin to India

Engaging in joint research and collaboration in a variety of areas from particles of creation

to outer space

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Striving for open markets that will allow trade and service to flourish. Also work towards

ensuring that economic growth results in better livelihoods and welfare for all people in the

country.

The two countries will also work jointly to counter infectious diseases, eliminate maternal

and child deaths and to eradicate poverty

The countries will also work to provide a secure environment which encourages the fullest

empowerment of women

The countries also agreed to expand and deepen their strategic partnership so that they may

harness the inherent potential of the two democracies and its people.

Other than Business Diplomacy a major aim of the PM‟s visit was to re-engage with USA and

rejuvenate the Indo-US strategic partnership which reached its peak at the signing of the 123

agreement and has since slowly fizzled out. The „Chalein Saath Saath: Forward Together We

Go‟ vision statement discusses the varied areas wherein the two countries might benefit from

co-operation and collaboration. This statement acts as a roadmap to the future Indo-US

partnership, and speaks to how the two countries view each other‟s roles in

theinternational arena.

RBI keeps all key rates intact in fourth bi-monthly monetary policy

The RBI announced its fourth bi-monthly monetary policy on September 30, 2014. This follows

the third bi-monthly monetary policy which was announced in August 2014.

CRR

The CRR of scheduled was kept unchanged at 4% of the bank‟s NDTL (net demand and time

liabilities). CRR refers to the proportion of its deposits that a bank has to hold in the form of

cash. The RBI uses CRR as a tool to control liquidity in the market (and thereby inflation) and to

reduce the risk to investors‟ deposits.

SLR (Statutory Liquidity Ratio)

The SLR remained unchanged at 22%. SLR refers to the proportion of its total NDTL that the

bank has to maintain in form of liquid assets. These liquid assets can either be cash or gold or

[OCTOBER COMPLETE GK 2014]

November 30, 2014

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unencumbered government securities. This directly affects the proportion of funds that the

bank can lend.

LAF (Liquidity Adjustment Facility)

The policy repo rate under the LAF was kept unchanged at 8%. The reverse repo rate also

remained unchanged at 7%. LAF is the tool by which banks borrow to meet their short term day

to day monetary requirements. Difference between LAF and Bank rate is the requirement of

collateral. Repo rate is the interest that banks pay to borrow from the RBI. Reverse repo is the

rate at which RBI borrows from banks after lending securities as collateral. LAF was introduced

in India in accordance with the recommendation of the Narasimham Commttee

on BankingReforms.

ECR Facility (Export Credit Finance)

The liquidity provided under the ECR Facility was reduced from 32% to 15% of eligible export

credit outstanding. This change will be in effect from 10 of October, 2014.

MSF (Marginal Standing Facility) and Bank Rate

MSF and Bank rate also saw no change at 9% for both. MSF is the rate at which only scheduled

commercial banks are allowed to borrow from RBI. This is over and above the LAF. MSF acts as

a last resort for bankers. Bank rate is the rate at which RBI lends to banks without any collateral

such as government securities.

Liquidity under overnight repos

The RBI will continue to provide liquidity under overnight repos up to 0.25 % of the specific

bank‟s NDTL will be given at the LAF repo rate.

Liquidity under 7 day and 14 day term repos

Liquidity for 7 day and 14 day term repos up to 0.75% of NDTL of the banking system will be

provided through auctions