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[OCTOBER COMPLETE GK 2014]
November 30, 2014
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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
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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