Documente Academic
Documente Profesional
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Editor
D.V.RAGHURAM
M.A., P.G.D.H.R.M., D.T.E.M e-mail : sreemedia2010@gmail.com
Executive Editor
CONTENTS
PERSONS AWARDS / PRIZES ENVIRONMENTAL ISSUES SCIENCE & TECHNOLOGY PACE RESEARCH DEFENCE SUMMITS/ CONFERENCES ECONOMY GLOSSARY PROGRAMMES REPORTS BANKING SECTOR COMMITTEES INTERNATIONAL AFFAIRS NATIONAL AFFAIRS SPORTS CURRENT AFFAIRS QUESTIONS 3 4 5 6 8 11 12 14 16 17 19 23 25 29 31 32
P. SUBHASHINI
M.Com
NOTE: Printing of this book process through many stages - Writing, Composing, Proof Reading etc. We try our best to make this book error free. if any mistake has inadvertently crept in, we regret it and would be deeply indebted to those who bring it to our notice. We do not take any legal responsibility. The publishers shall be obliged if mistakes are brought to their notice for carrying out correction in the next edition.
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Career Makers
JAYAM SERIES
Leila Lopes from Angola was crowned Miss Universe, smoothly handling an interview question about what physical trait she would change if could, while wearing a strapless cream-colored gown. Lopes, Angolas first winner, beat out 88 other competitors to win the title during the 60th anniversary of the worlds biggest beauty pageant. She replaces last years winner, Ximena Navarrete of Mexico. The first runner-up was 23year-old Olesia Stefanko of Ukraine and the second runner-up was Priscila Machado of Brazil. The third was Miss Philippines and the fourth Miss China. The globes biggest beauty contest is held in Brazil for the first time. The contestants, who must never have been married or had children and who must be at least 18 years of age and under 27 years of age by Feb. 1 of the competition year. Miss Universe 2011, the 60th anniversary of the Miss Universe pageant, will be held at the
Career Makers
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PERSONS
Credicard Hall, in Sao Paulo, Brazil on September 12, 2011. Ximena Navarrete of Mexico will crown her successor. 89 contestants are participating in this years pageant, surpassing the previous record of 86 contestants in 2006. Miss Universe is an annual international beauty contest run by the Miss Universe Organization. The pageant is the most publicized beauty contest in the world with 600 million viewers. The contest was founded in 1952 by California clothing company Pacific Mills. The pageant became part of Kayser-
Roth and then Gulf and Western Industries, before being acquired by Donald Trump in 1996. In 1998, Miss Universe changed its name from Miss Universe, Inc. to Miss Universe Organization and the headquarters moved from Long Beach California, to New York City that year. Donald Trump brought in a new team of professionals to the contest headed by its new CEO, Molly Miles, and president Maureen Reidy. The contest would use the slogan "Redefined for Today" for promotion of the pageants.
Sao Paulo, Brazil Las Vegas, Nevada U.S. Nassau, Bahamas Nha Trang, Vietnam Mexico City, Mexico Los Angeles, California U.S. Bangkok, Thailand Quito, Ecuador Panama City, Panama Crowned by Donald Trump in NYC Miss Russia San Juan, Puerto Rico Miss Puerto Rico Universe Bayamon, Puerto Rico Miss India Nicosia, Cyprus September 2011, Volume: 09
For the first time since its inception 15 years ago, the Prem Bhatia Awards for excellence in political reporting and analysis, as well as that for excellence in environmental reporting have been shared by two journalists each. The award for political reporting goes to Josy Joseph of The Times of India for his consistently fine reporting of the scandals that have made headlines, like the 2-G Spectrum allocation, Commonwealth Games and Adarsh Housing Society scams. Jyotirmoy Dey of Mid-Day shares the award posthumously for his superlative work all through his career in exposing Mumbai's underworld and corruption in the police and bureaucracy, and he had to pay for that with his life. The two winners of the environmental award are Madhuraj, chief news photographer of Matrubhumi, for his vivid photographs that focused national and international attention on the catastrophic consequences of the use of endosulfan pesticide in Kerala, and G. Nirmala, who has written powerfully on the same subject in one of the publications of Samakalika Malyalam Vaarike.
Ace Indian shooter Gagan Narang has been conferred Indias highest sporting honour.
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AWARDS / PRIZES
instituted in 1961 by the government of India to recognize outstanding achievement in National sports. The award carries a cash prize of Rs 500,000, a bronze statuette of Arjuna and a scroll. The 2011 awardees are: Zaheer Khan (Cricket), Rahul Bannerjee (Archery), Preeja Sreedharan (Athletics), Vijas Gowda (Athletics), Ashish Kumar (Gymnastics), Rakesh Kumar (Kabaddi), Tejaswini Bai (Kabaddi), Rajpal Singh (Hockey), Sanjay Kumar (Volleyball), Sunil Chhetri (Football), Ravi Kumar (Weightlifting), Ravindra Singh (Wrestling), Suronjoy Singh (Boxing), Jwala Gutta (Badminton), Virdhaval Khade (Swimmimg), Sandhya Rani Devi (Wushu), Somdev Devvarman (Tennis) and Prashant Karmakar (Disabled).
association with AccessAbility and BarrierBreak Technologies announced the winners of the NCPEDP-Mphasis Universal Design Awards-2011 in July 2011.The awards honour organisations and individuals for their exemplary work in promoting the cause of accessibility for the disabled. The awards are given out in three categories -- persons with disabilities, working professionals, and companies and organisations on the eve of Independence Day (15 August).The Awards will cover accessibility in the following fields: Built Environment, Transport, Information and Communication Technology, Services and Aids and Appliances.
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recently, compared with the record low of 4.13 million sq km in 2007, whereas the minimum ice extent in the early 1970s was 7 million square km.
on daily basis, she said. To control air pollution in Delhi, air ambience fund has been created by imposing a fee of Rs 0.25 per litre of diesel sale in Delhi, she added. For promotion of vehicles operated with clean fuel, the government is giving subsidy to battery operated vehicles from air ambience fund, Dikshit said.
ISSUES
The Total Volume of Arctic Sea Ice Fell to a Record Low in 2010
The total volume of Arctic sea ice fell to a record low in 2010, according to a new study. Scientists at the Polar Science Center of the University of Washington estimated that last year broke the previous 2007 record for the minimum volume of ice, which is calculated from a combination of sea ice area and thickness. Axel Schweiger of University of Washington, led the study. According to the scientists, ice volume is now plunging faster than it did at the same time last year when the record was set. The Arctic sea ice area fell below 4.6 million sq km
Career Makers
addition, a new scheme namely National Initiative on Climate Resilient Agriculture (NICRA) has been launched in year 2011 to enhance resilience of Indian agriculture against climate change. As per the Greenhouse Gas Emission Inventory 2007 published under the aegis of Indian Network for Climate Change Assessment (INCCA), agriculture sector contributes to 17% of the net green house gas emissions from India in 2007. ICAR and different State Agriculture Universities have been evolving technologies to reduce emissions from agriculture sector without compromising the food grain production. These tchnologies include improved irrigation management techniques, cultivation of aerobic rice, System of Rice Intensification (SRI) and use of neem-coated urea.
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billion devices will access the Internet. By then, online traffic will reach a zettabyte or one million million billion bytes. Intel foresees that soon companies will have to develop data centres with smaller footprint, which are at the same time secure and energy-efficient. According to the company, their new technology will cater to this necessity and will help companies to deploy cloud faster than ever before. The Cloud Vision 2015, Intels futuristic vision, anticipates an environment where cloud data centres are seamlessly and securely connected, fully automated with little or no human interaction and client-aware providing secure access and optimal experience across a range of devices, from smartphones to notebooks.
Japanese K Computer
The Fujitsu-designed K Computer, was recently announced the winner of the biannual Top 500 supercomputer list at the International Supercomputing Conference (ISC) held in Hamburg. It is three times faster on the Linpack high-performance computing (HPC) benchmark than last winner, the Tianhe-
SCIENCE &
TECHNOLOGY
Intel develops worlds smallest data centre
Chip maker Intel is showing off what they are calling the worlds smallest data centre. Dubbed as Cloud-in-a-Box system, the Intel unit is designed to be used as a demonstration tool to illustrate the power and efficiencies of cloud computing. Intel is powering the unit with Xeon processors, but they are also promoting several other security and optimisation technologies like Intel AES New Instructions for more efficient encryption, Intelligent Power Node Manager to better control power needs for increased server density and Intel's Virtualisation Technology. Intel anticipates that by 2015, 2.5 billion people with more than 15 Career Makers
1A. K Computer is capable of over eight quadrillion calculations per second with an Rmax score of 8.16 petaflops. This makes it more powerful than the next five systems in the top 10 combined. Unlike previous winners, K Computer does not use graphical processing units (GPUs), such as those made by Nvidia, nor does it use x86 processors from Intel and AMD; instead, it is based on Fujitsu- designed Sparc processors. K Computer is based at the independent Riken research lab in Japan. Riken caries out research in physics, chemistry, medical science, biology and engineering. It needs to be noted here that Japan was last home to the worlds most powerful Top 500 system in 2004, with the 36teraflop Earth Simulator. In the new Top 500 list, Tianhe-1A of China came second and US Oak Ridge National Labs Jaguar came third.
Adviser to PM on Public Information, Infrastructure and Innovation and Nandan Nilekani, Chairman, UIDAI. The HLC has already held 3 meetings and has initiated steps to put the implementation on a fast track. A Special Purpose Vehicle (SPV) will assume the responsibility for execution of the project after approval of the scheme by the cabinet. The SPV will be finally owned by the Government/USOF. The BSNL has been entrusted with the task of undertaking the preparatory activity for project execution and establishment of the SPV.
environment by 2015. The group is set up jointly by the Planning Commission and Ministry of Environment. The panel will also include distinguished economists Nitin Desai, Vijay Kelkar and Kirit Parikh. The committee has been mandated to evaluate the environmental and ecological implications of high GDP growth on ecology and biodiversity.
Green Growth
The government of India recently announced the setting up of a high-level expert group to assess the impact of economic growth on environment. The expert group has been constituted under environment economist Partha Dasgupta to provide a roadmap for Green National Accounting System (GNA) to evaluate impact of economic growth on
E. coli Infection
E. coli stands for Escherichia coli bacteria (germs) that cause severe cramps and diarrhoea. E. coli is a leading cause of bloody diarrhoea. The symptoms are worse in children and older people, and especially in people who have another illness. E. coli infection is more common during the summer months and in northern states.
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08279+5255, which harbours a black hole 20 billion times more massive than the sun and produces as much energy as a thousand trillion suns. Astronomers expected water vapour to be present even in the early, distant universe, but had not detected it this far away before. Theres water vapour in the Milky Way, although the total amount is 4,000 times less than in the quasar, because most of the Milky Ways water is frozen in ice. Water vapour is an important trace gas that reveals the nature of the quasar. In this particular quasar, the water vapour is distributed around the black hole in a gaseous region spanning hundreds of light-years in size. Its presence indicates that the quasar is bathing the gas in X-rays and infrared radiation, and that the gas is unusually warm and dense by astronomical standards.
Haemolytic uremic syndrome is more common in children. It can cause acute renal failure in children. This problem starts about 5 to 10 days after the diarrhoea starts.
SPACE RESEARCH
with Earth and blasted out a mass of molten debris that eventually cooled into the moon. In fact, the moon is a series of lumps within lumps. Even as it was congealing, it did so unevenly, with scattered areas of high density that senologists labeled mascons for mass concentrations. The highlands and plains are made of differing materials too. Higher local density means stronger local gravity, which can not only wreak havoc on precisely calibrated spacecraft orbits but can also reveal a lot about the innards and the history of the moon itself provided you know how to read those gravitational flutters. NASA is preparing to do just that, launching the GRAIL mission (Gravity Recovery and Interior Laboratory) on a nine-month journey to deepen our understanding of Earth's closest neighbor. The GRAIL spacecraft, which launched on Sept. 10, is actually two spacecraft, each about the size of a washing machine. Named, prosaically enough, GRAILA and GRAIL-B, they were lofted aboard the same booster and then released in space for separate but closely coordinated flights to the moon. A translunar journey typically takes less than three days, but the GRAIL ships will exceed that by just
a bit not arriving until New Year's Eve in the case of GRAIL-A and New Year's Day in the case of GRAIL-B. Rather than covering the 239,000mi. (385,000 km) distance from the Earth to the moon in a straight, asthe-crow-flies shot, the ships will follow a looping, 2.5-million-mi. (4 million km) trajectory. The longer route and slower speed allow the spacecraft to carry less fuel and ensure that when they do arrive at the moon they can be inserted into orbit more precisely and precision is everything when it comes to the GRAILs. During the three months the ships will spend actively studying the moon from early March to late May they will maintain a distance of 100 to 225 km (62 to 140 mi.), depending on what part of the lunar anatomy they're surveying. A tracking system aboard the ships will measure any change in range between the two within a difference of a few microns or about the size of a red blood cell. And that shifting distance is exactly what the scientists will be looking for. Flying over a mascon will be like driving over a speed bump, jolting the two ships and causing them to shake a bit relative to each other. The denser the mass concentration and the bigger the gravity jolt the greater the degree of disruption will be. "We'll use the moon's gravity to tell us what's inside the moon, all the way down to the core," says principal investigator Maria Zuber of MIT. NASA is prepared for glitches and false positives in the data. No unmanned spacecraft have ever flown in such balletic tandem around another world, and flight planners will thus be refining their navigational skills in real time. Even the solar wind the stream of charged particles that flow outward from the sun could disrupt the readings. Indeed, one more reason Career Makers
for the roundabout translunar route was so that scientists could measure the wind precisely and correct for it as the data is analyzed. Assuming the mission achieves what it's designed to achieve, the GRAILs will do more than reveal new insights about the innards of the moon and the origins of the solar system. They will also help NASA select promising sites for future lunar landings. Such ambitious future missions, of course, require both funding and programmatic clarity that are nowhere in evidence at the moment. But in the event policymakers ever do set their sights moonward again, GRAIL will help tell them precisely where to aim.
been with ISRO for over two decades, were involved in crucial tasks undertaken before declaring the satellite fully operational.
Oceansat data production generation system. INCOIS said, the 7.5 meter diameter antenna system at the new ground station could also be used to receive data from satellites launched by ISRO in the future study of oceans. The chlorophyll data received from OCM at the ground station would be integrated with Sea Surface Temperature from NOAA satellites for providing the Potential Fishing Zone (PFZ) advisory services. The PFZ advisories generated by INCOIS using Oceansat-2 data advise fishermen on the optimal locations for fishing. INCOIS said an estimated 65,000 users regularly access the PFZ service, thereby benefiting by 60-70 per cent reduction in search time for fish shoals and 2-3 times increase in net profit. The recent study, carried out by National Council of Applied Economic Research, on the socio economic benefits of PFZ advisory services and ocean state forecasts, has estimated the net annual benefits to be in the range of Rs 34,000 to Rs 50,000 crore due to scientific identification of PFZs based on satellite information, INCOIS said. Andhra Pradesh Chief Minister N Kiran Kumar Reddy, ISRO chairman K Radhakrishnan, Secretary in the Ministry of Earth Sciences Shailesh Nayak, Incois director Satheesh Shenoi and other officials were present on the occasion.
The Grail spacecraft launch at 9.08 am aboard a Delta II rocket from an Air Force base adjacent to NASAs facilities at Cape Canaveral, Florida. The blastoff had been postponed twice due to bad weather on September 8th and 9th. The two small Grail spacecraft - which are about the size of washing machines - will fly in formation above the moons surface to map its gravity.
Trying to understand how the moon formed, and how it evolved over its history, is one of the things were trying to address with the Grail mission, said researcher Maria Zuber of the Massachusetts Institute of Technology. By measuring variations in gravity across the moons surface over three months, scientists hope to learn how the interior formed, which should also provide general clues about how rocky planets form, Ms. Zuber said.
Atlantis Returns
The 135th, and final, space-shuttle mission was completed recently with the safe return of Atlantis back to earth after making resupplies to the International Space Station and deliver an experiment intended to help develop a refuelling system for telecommunications satellites. The STS-135 crew consisted of Commander Chris Ferguson, Pilot Doug Hurley, Mission Specialists Sandra Magnus and Rex Walheim. They delivered more than 9,400 pounds of spare parts, spare equipment and other supplies in the Raffaello multi-purpose logistics module including 2,677 pounds of food - that will sustain space station operations for the next year. The 21- foot long, 15-foot diameter Raffaello brought back nearly 5,700 pounds of unneeded materials from the station. Atlantis will now become a museum piece, on display at the space centre. STS135 was the 33rd and final flight for Atlantis, which spent 307 days in space, orbited Earth 4,848 times and travelled 125,935,769 miles. The end of the shuttle programme, which leaves America without the ability to launch people into orbit for the first time since 1962, has been the subject of much controversy between those who think manned space flight a waste of money and those who see space as the countrys manifest destiny and the final frontier of human exploration. Alternative systems for launching humans, employing singleshot rockets, are under development by several American companies. In the meantime, American astronauts bound for the space station will have to hitch a lift with the Russians. 10 September 2011, Volume: 09
The Defence Ministry has approved a proposal to develop Deesa Airport in North Gujarat as a full fledged air base, a top IAF officer said. "We had mooted this proposal to the Defence Ministry, which has granted approval. The first phase of the project will cost over Rs 3,000 crore," said A K Gogoi Commanding in Chief, South Western Air Command (SWAC). Considering the strategic importance of the airport, it was thought fit to develop a full-fledged air base at Deesa, which is close to the Pakistani border, he told reporters after induction of 25 squadron at IAF station in Vadodara on Thursday. The IAF base at Jodhpur will have a permanent squadron of SU30 fighter jets in the next couple of years, he said. Two squadrons armed with Akash, the medium range surface to-air missile, are set to be deployed in Pune and Gwalior. Six more squadrons will be deployed for checking any threat from China, Gogoi said. To a question on shortage of aircraft, he said "IAF is expecting to expand the fleet of its fighters after 2012. This will lead to increase in the number of squadrons." "We are getting upgraded MIG aircraft from Russia. Five such aircraft are expected to arrive soon," he said. "SWAC is in the process of strengthening surveillance by inducting a few state-of-the-art Medium Power Radars (MPRs)," Gogoi said. "The MPR has been developed with a view to detect Career Makers
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DEFENCE
small targets at ranges greater than 300 km," Gogoi said. Talking about 25 Squadron, popularly known as Himalayan Eagle', he said it was formed on 1st March 1963 in the wake of 1962 Chinese aggression in the Northern Sector. The unit, equipped with AN32 aircraft, has been adjudged the best transport unit in the IAF three times.
The Bulava, expected to become Russia's main naval strategic missile, is capable of carrying 10 warheads with a range of 8,000 km. The first test launch from the Yuri Dolgoruky was conducted on June 28, 2011. Before that the missiles were fired from the typhoon-class Dmitry Donskoy submarine. The three-stage missile is specifically designed for deployment on Borey class nuclear submarines.
Project SANGAM
A software project SANGAM for defence pensioners has been launched. The project SANGAM will provide useful Management Information System (MIS) to the financial planners in the Ministry of Defence. Project SANGAM is a software which will facilitate issuance of corrigendum pension payment orders. This will address the demand from the exservicemen for issue of individual corrigendum pension payment order consequent to implementation of recommendations of Sixth Central Pay Commission (6th CPC). This software project is one step forward from the project SUVIGYA which was launched in October last year on the occasion of Defence Account Department Day and is very popular among defence pensioners. There are about 18 lakh defence pensioners who will be benefitted with the launch of project SANGAM in the long run. It will also help in grievance redressal of pensioners with regard to the correctness of payment of pension. September 2011, Volume: 09
The 5th India-EU seminar on Employment and Social Policy Occupational Safety & Health is commencing on Monday 19th,2011 at Symposia Hall, Indian Council of Agricultural Research, National Agriculture Science Centre (NASC)Complex, Dev Prakash Shastri Marg, New Delhi. The two day seminar will be inaugurated and chaired by Union Minister for Labour & Employment Shri Mallikarjun Kharge and be attended by senior officials from the European Commission and from the member countries of European Union. Ministers from some countries are also likely to attend the seminar. The senior representatives from Workers organizations, Employers Organisation and senior officers from of various State Governments and Central Ministries/Departments of Govt. of India will also be participating in the seminar. The seminar will have four sessions spread over two days in which deliberations on the following issues will be made : Overview of OSH Institutional Framework in India and the European Union; Effective and "Topical Issues in Occupational Health Management" The seminar is in the sequence of a Joint Action Plan entered in between India and European Union (EU) to have a policy dialogue and cooperation in Career Makers
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SUMMITS/
CONFERENCES
5th India-EU Seminar on Employment and Social Policy Occupational Safety & Health
the fields of employment and social policy. Accordingly, the Ministry of Labour & Employment, Government of India has signed an Memorandum of Understanding (MOU) with the European Commission to strengthen dialogue and exchange of views and information on issues of common interests within the area of employment and social policy such as: skills, training and employment, social security, occupational health and safety; workers participation in management; and other relevant issues jointly identified. The structured dialogue consists of exchanges of experience, best practice, views and information on topics of common interest, trends and policy developments related to the above areas. As a part of this structured dialogue, it has been agreed upon to organize a joint seminar on mutually identified issues every year. These seminars will bring together EU and India government experts, social partner representatives, academic experts and other relevant stakeholders to exchange views, information, experience and best practice on topics of common interest. As a result, the first Seminar on Skills Development and training was held on 27-28 November, 2006 at New Delhi. The second seminar on social security and social protection was held on 17-18 September, 2007 at Lisbon, Portugal. The third Seminar on Employment Relations and Resolution of Conflicts was organized on 22nd & 23rd September, 2008 at New Delhi. The 4th India-EU Seminar on the `Skills and Jobs, with a particular focus on the impact of the global crisis and recovery was held in Brussels from 5th to 6th July, 2010. 12
India Convenes meeting of BRICS Finance Ministers in Washington DC on September 22, 2011
The Union Finance Minister Shri Pranab Mukherjee said that India is convening a meeting of BRICS Finance Ministers in Washington DC on September 22, 2011 on the sidelines of the Fund-Bank and G-20 Meetings. The Finance Minister said that we would explore the manner in which BRICS could coordinate in addressing the evolving economic and financial situation in the various countries of the world. The Finance Minister Shri Mukherjee said that the objective of the meeting is to discuss our concerns regarding the current state of the Global Economy and our Policy Response. Shri Mukherjee said that we will discuss the progress on the report commissioned by India on the role that BRICS can play in the global economy going forward, and also our role in the international financial institutions such as IMF and the World Bank. September 2011, Volume: 09
space accounts for one-third of the Green House Gas emissions globally, and consumes nearly half the world's energy and resources. At the Rio +20 UN conference to secure renewed political commitment for sustainable development, the challenge of creating a sustainable building sector will have to be brought to the fore. The opportunity was missed out earlier and does not figure in the Kyoto Protocol because of the lack of awareness two decades back on this issue. Addressing the International Green Building Conference 2011 organised by the Building and Construction Authority, a Singapore Government body that regulates real estate development, he said, a multipronged approach is needed in the form of multilateral agreements, economic and fiscal incentives and regulatory regimes. Population growth and economic development are driving the demand for buildings with the major growth regions being China, Asia, Latin America and Africa. By 2030 more than 80 per cent of the population will be living in cities where housing will be needed for three billion people. The UNEP green economic report released in February looks at the investments needed to make the process of development sustainable. Two of the 11 chapters deal with buildings and Career Makers
cities. These two also have a direct impact on most of the other sectors the report deals with agriculture, forest, manufacturing, tourism, transport, water and energy.
13
The free trade agreement (FTA) between India and Malaysia has come into force from July 1, 2011. The Indian Government has assured that sensitive sectors like agriculture, fisheries, textiles, chemicals and automobiles have been given protection from imports without duty or with significant cuts. India-Malaysia CECA is Indias fourth bilateral Comprehensive Economic Cooperation Agreement, after Singapore, South Korea and Japan. The India-Malaysia CECA also facilitates cross-border investments between the two countries. It aims to promote investments and create a liberal, facilitative, transparent and competitive investment regime. The CECA creates an attractive operating environment for the business communities of both countries to increase bilateral trade and investment.
Benefits:
1. This FTA is likely to provide greater opportunity to Indian professionals professionals in commercially meaningful sectors including accounting and auditing, architecture, urban planning, engineering services, medical and dental, nursing and pharmacy, Computer and Related Services (CRS), and Management Consulting Services to have access to the key South-East Asian nation and render their services to them. 2. Besides that like basmati rice, mangoes, eggs, trucks, motorcycles and cotton garments, will attract lower or no duty in Malaysia with the Career Makers
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ECONOMY GLOSSARY
implementation of the Comprehensive Economic Cooperation Agreement (CECA) and therefore would have better access in Malaysian markets. 3. Further, the CCEA would facilitate temporary movement of business people, including contractual service suppliers and independent professionals in accounting, architecture, engineering services, medical and dental, nursing and pharmacy, computer services and management consulting. 4. It has been expected that the agreement will also help boost crossborder investment between the two countries, which achieved bilateral trade of USD 10 billion in the fiscal year of 2010-11, an increase of 26 per cent from the previous year. With the implementation of this agreement the bilateral trade is likely to touch US$15 billion by 2015.
computer. This amalgamated configuration provides an environment where applications execute independently without regard for any particular configuration. Thus Cloud computing is a paradigm for largescale distributed computing that makes use of existing technologies such as virtualization, serviceorientation, and grid computing. It offers a different way to acquire and manage IT resources on a large scale. A simple example of cloud computing is webmail. The webmail provider maintains the server space and provides access; the webmail user just plugs a web address into a browser and submits user information to access an account.
Cloud Computing
Cloud computing is a comprehensive solution that delivers IT as a service. It is an Internet-based computing solution where shared resources are provided like electricity distributed on the electrical grid. Computers in the cloud are configured to work together and the various applications use the collective computing power as if they are running on a single system. The flexibility of cloud computing is a function of the allocation of resources on demand. This facilitates the use of the systems cumulative resources, negating the need to assign specific hardware to a task. Before cloud computing, websites and server-based applications were executed on a specific system. With the advent of cloud computing, resources are used as an aggregated virtual 14
world Gross Domestic Product (GDP) is expected to grow by 3.1 per cent, compared to 3.9 per cent in 2010," the United Nations Conference on Trade and Development said in a report released. It said the developing economies have sustained their strong growth path, despite the recent global downturn, mainly due to domestic demand. "However, they must face financial instability and speculative capital flows generated in developed economies and would not be spared by a new recession in the North," UNCTAD's Trade and Development Report 2011 (TDR 2011) said. Projecting a slowdown in global economic growth in 2011, UNCTAD said private demand alone is not sufficient to maintain momentum of recovery due to high unemployment and stagnant wages in many countries. While developing economies are expected to regain the pre-crisis growth rate of 6 per cent this year, growth in developed economies is expected to be between only 1.5-2 per cent, it said. Regarding South Asia, of which India is a part, UNCTAD said the region is likely to be among the best performers with a growth of 7 per cent in 2011. "Although growth in developing countries has become more and more dependent on the expansion of domestic markets, these countries face significant Career Makers
external risks because of economic weakness in the developed economies and a lack of significant reforms in international financial markets," UNCTAD said. It said that emerging economies remain vulnerable to trade and financial shocks that could strongly affect volume of their exports and the prices of primary commodities, as happened in 2008. The report said that growth in US is likely to remain low on account of low domestic demand, stagnating wages and employment and low interest rates. The debt crisis, along with spreading fiscal austerity, is also expected to act as a drag on the global growth. According to the TDR 2011, trade remains an area of concern, especially for the richer nations. "In 2011, the volume of international trade is expected to return to single-digit from 14 per cent in 2010, particularly in developed economies. Recovery of trade has been faster in developing than in developed economies," it said.
Government has decided to provide appropriate banking facilities to habitations having population in excess of 2000 (as per 2001 census) by March, 2012. Accordingly, 73,000 such habitations across the country have been identified and allocated to Public Sector Banks, Regional Rural Banks, Private Sector Banks and Cooperative Banks for extending banking services by using the services of Business Correspondents and other models, with appropriate technology back up by March, 2012. According to Dr. Rangarajan Committee Report on Financial Inclusion (2008), the reach of rural cooperatives in terms of number of clients and accessibility is better but the health of a very large population of rural credit cooperatives has deteriorated significantly. RBI guidelines on KYC (Know Your Customer) are similar to both Commercial Banks and Urban Cooperative Banks. Primary Agriculture Cooperative Societies (PACS) affiliated to District Central Cooperative Banks and State Cooperative Banks were having a deposit base of Rs.26,245 crore as on 31.3.2009 that increased to Rs.35,286 crore as on 31.3.2010 registering an increase of 34.45%. The loans issued by such Primary Societies (PACS) were of the order of Rs.58,787 crore as on 31.3.2009 and Rs.74,938 crore as on 31.3.2010 registering an increase 27.47% over the previous year.
UPA chairperson Sonia Gandhi recently unveiled the Janani-Shishu Suraksha Karyakram an ambitious national healthcare programme aimed at providing free child delivery and neonatal care services across the country. Inaugurated at Mandikhera village located in the relatively backward and predominantly Muslim Haryana district of Mewat, the scheme is expected to bring safe medical services to more than one crore rural and urban families every year. This scheme will give right to all pregnant women to have free delivery in government health organisations. It is here underlined that the ambitious scheme of the Centre, to be implemented under the National Rural Health Mission (NRHM), has been patterned on the Haryana Governments scheme Janani Suraksha Yojana, and would cost Rs 1100 crore per month. Under the programme, expecting mothers would get care and treatment, including medicines, food and testing facilities free of cost in all government hospitals and dispensaries, she said. They would also be provided, if needed, blood and transport facility to the hospital for delivery free of cost, and the mother-child duo would be transported back home.
The Central Government is implementing Ujjawala, a comprehensive Scheme for prevention of trafficking and rescue, rehabilitation and reintegration of victims of trafficking for commercial sexual exploitation since 4th Career Makers
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PROGRAMMES
December, 2007. The Minister of State (I/C) for Women & Child Development Smt. Krishna Tirath stated in Lok Sabha that the Scheme is envisaged for women and children who are vulnerable to trafficking and those who are victims of trafficking for commercial sexual exploitation. However, sex workers who are voluntarily in the trade and wish to be rehabilitated, can also avail of rehabilitation services provided under the Ujjawala Scheme. The Minister informed the House that under the Scheme, 76 Protective and Rehabilitative Homes have been sanctioned, in the country, which can accommodate upto 3800 beneficiaries. These Rehabilitative Homes are given financial support for providing the inmates basic amenities such as food, clothing and shelter, medical care, legal aid, education in case the victims are children as well as for undertaking vocational training and income generation activities to provide the victims with alternate livelihood option.
Smt. Tirath said that a comprehensive study on Girls and Women in Prostitution, conducted in 2004, which was sponsored by the Ministry of Women and Child Development, had estimated that there were about 2.8 million prostitutes in the country of which 36% are children. It is to be noted here that the Honble Supreme Court vide its order dated 14.2.2011 had asked the State and Central Governments to prepare schemes for rehabilitation of sex workers in all cities in India by giving them technical/vocational training. Subsequently, vide order dated 19.7.2011, the Honble Court has a Panel which will make suitable suggestions to the Court on different aspects including rehabilitation of sex workers who wish to leave sex work. The Court has asked the Panel to first take up the problems of sex workers in the 4 metropolitan cities i.e. Delhi, Kolkata, Mumbai and Chennai. The Panel has met three times to discuss the issues before it.
India has continued to deteriorate in the index as it has slipped to 62nd position in the 2011 edition of the Global Innovation Index rankings from being 56th in 2010 and 41st in 2009. India has performed poorly on the Input side at ranked 87th: India is in the last quintile on sub-pillars business environment, elementary education, tertiary education, and knowledge workers. In the Innovation Efficiency Index, India however improved its ranking to 9th this year. It was followed by Sri Lanka (82), Bangladesh (97), and Pakistan (105). The 2011 rankings were by the leading international business school INSEAD and its knowledge partners, Alcatel-Lucent, Booz & Company, the Confederation of Indian Industry, and the World Intellectual Property Organisation (WIPO). Switzerland has been regarded as ranked one ahead of Sweden, Singapore, Hong Kong and Finland. The other major countries are; US (7), China (29), Brazil (47) and Russia (56). The Global Innovation Index has been computed as an average of the scores across inputs pillars
Career Makers
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REPORTS
(describing the enabling environment for innovation) and output pillars (measuring actual achievements in innovation). It added that five pillars constitute the Innovation Input Sub-Index: Institutions, Human capital and research, Infrastructure, Market sophistication and Business sophistication. The Innovation Output Sub-Index is comprised two pillars: Scientific outputs and Creative outputs. The Innovation Efficiency Index, calculated as the ratio of the two Sub-Indices, examines how economies leverage their enabling environments to stimulate innovation results.
range of regulatory areas is far more important to these networks than further reductions in already low tariffs.
WTO projects that the world trade will grow 6.5 per cent by volume in 2011:
The latest report of the WTO has projected that the world trade will grow by 6.5 percent this year, which is above the average rate between 1990 and 2008 of 6 percent, but if fails short of last years dramatic rebound. The WTO maintains that the growth in merchandise trade in 2010 as measured by volume of exports was 14.5 percent, revised up from its previous forecast of 13.5 percent.
17
Developing country trade as measured by exports growth is projected to grow by 9.5 percent, while that of developed countries is set to grow only 4.5 percent.
comprehensive report, the Asian Development Bank has referred to these seven countries as the driving engines for the re-emergence of the entire Asia. According to the estimates, around 3.1 billion total populations were living in these seven Asian nations in the year 2010. This population makes 78 per cent of the entire population living in Asia. In 2010, these seven countries were generating around $ 14.2 trillion gross domestic product.
Environment Programme (UNEP). The report, Forests in a Green Economy: A Synthesis, examines the role of forests in a green economy, and provides policy recommendations to adjust the forest sector in such a way that it can effectively contribute to sustainable development and poverty eradication. The report further highlights that right kind of enabling policies, such as investment equivalent to about 2/3 more than what is spent on the sector today, could help in removing an extra 28 per cent of carbon from the atmosphere, thus playing a key role in combating climate change. The report further highlights that more than a billion people around the world depend on forests for incomes and employment. Forests are also a major source to provide nutrition and diminish energy scarcity. Besides, forests serve as carbon sinks, regulate water cycles and contribute to the world biodiversity. Thus we can convincingly say that economic progress and human well-being are dependent on healthy forests.
Career Makers
in 2010. As per the report, India's FDI inflows in 2008 stood at $42.5 billion. This had come down to $35.6 billion in 2009 and $24.64 billion in 2010. India attracted FDI worth USD 25 billion last year, much lower than the inflows of USD 36 billion seen in 2009. Whereas United States with $228 billion has topped the list; China stood at 2nd position with inflows totalling $106 billion in 2010, and Brazil stood at 5th position with inflows at $48 billion during the last year. In fact, FDI inflows to South, East and South-East Asia rose 24 per cent to $300 billion, nearly onefourth of the global total of $1.24 trillion in 2010. FDI to South Asia declined to $32 billion, reflecting a 31 per cent slide in inflows to India and a 14 per cent drop in flows to Pakistan. By contrast, inflows to Bangladesh, a rising low-cost production location, increased by nearly 30 per cent to $913 million. FDI inflows in India stood at $ 9.42 billion in 2010-11.
world. The report is a global survey of womens access to justice looking both at legislation passed by governments and the steps taken or not taken to implement those laws. The paradox confronted by the report is that despite the recent and rapid expansion of womens legal entitlements, what is written in the statute books does not always translate into real progress on equality and justice on the ground. The report looks at which countries have passed special legislation on womens political rights and economic opportunities and on womens reproductive health and rights. It looks at which countries have laws against domestic violence, sexual harassment and marital rape. It catalogues data on development indicators related to women, and looks country-bycountry at womens participation in politics.
The Reserve Bank of India (RBI) has introduced a new Marginal Standing Facility (MSF) scheme, which was announced to be implemented in its Monetary Policy for the year 2011-12. Under the new facility, banks will borrow overnight up to 1 per cent of net demand and time liabilities (NDTL) outstanding at the end of the second preceding fortnight. The MSF will be 100 basis points above the repo rate the rate at which banks borrow from RBI. It needs to be noted that the repo rate has now become the only independent variable policy rate, marking a shift from earlier method of calibrating various policy rates separately. The reverse repo rate the rate at which RBI borrows will be kept 100 basis points lower than the repo rate. All scheduled commercial banks that have current account and subsidiary general ledger (SGL) account with RBI are eligible to participate in the MSF scheme. RBI will receive requests for a minimum amount of Rs 10 million and in multiples of Rs 10 million thereafter. The central bank has the right to accept or reject partially or fully, the request for funds under this facility.
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BANKING SECTOR
channels like collateralized borrowing and lending obligation (CBLO) and liquidity adjustment facility (LAF). Difference between Liquidity Adjustment Facility-Repo Rate and Marginal
and also by the Reserve Bank of India. It is hoped that the merger would help in eliminating the cost involved in maintaining the administrative structure of SBICI as both the branches of SBICI would be easily absorbed in the operations of the main bank. Significance of the merger by the government: In the overall analysis, continuation of SBICI in its present form would not create a sustainable organization with a separate niche, able to hold on its own in the medium term. As an independent Bank also, SBICI has had to maintain a full-fledged, elaborate administrative setup to conform to regulatory requirements. The cost of maintaining such a structure is disproportionate to the level of operations of the SBICI. The proposed merger would help in eliminating the cost involved in maintaining the administrative structure of SBICI as both the branches of SBICI would be easily absorbed in the operations of the main Bank. While no present beneficiary of the State Bank of India would be affected, the number of beneficiaries would be the clients of SBI Commercial and International Bank Ltd. who will have access to the bigger network of State Bank of India.
in the nation in addition to expand the scope of UCBs. If the reach of the UCBs is expanded, it will result in promoting financial inclusion. According to the latest guidelines of the RBI, lending to SHGs and JLGs (Joint Liability Groups) would be considered as normal business activity of the bank. UCBs will be required to frame a comprehensive policy on lending to SHGs and JLGs. The maximum amount of loan to SHGs should not exceed four times of the savings of the group. With regard to loans given to JLGs, the guidelines stated that the JLGs were not obliged to keep deposits with the bank and hence the amount of loan granted to them would be based on their credit needs and the banks assessment of the credit requirement.
SBICI:
SBICI Bank Ltd. is a wholly owned subsidiary of SBI, which was set up in 1994 after taking over the Indian operations of the erstwhile Bank of Credit and Commerce International Ltd. (BCCI), which went into liquidation in 1991. SBICI Bank Ltd. has only two branches, both in Mumbai.
Self-Help Groups
The RBI has allowed urban cooperative banks (UCBs) to give loans to selfhelp groups (SHGs). This decision by the RBI is definitely going to promote financial inclusion Career Makers 20
members are expected to engage in similar type of economic activities. The management of the JLG is to be kept simple with little or no financial administration within the group. JLGs can be formed primarily consisting of tenant farmers and small farmers cultivating land without possessing proper title of their land.
(c)
The Foreign Currency Convertible Bonds shall be denominated in any freely convertible foreign currency and the ordinary shares of an issuing company shall be denominated in Indian rupees. (d) The issuing company should deliver the ordinary shares or bonds to a Domestic Custodian Bank as per regulation. The custodian bank on the other hand instructs the Overseas Depositary Bank to issue Global Depositary Receipt or Certificate to non-resident investors against the shares or bonds held by the Domestic Custodian Bank.
Advantages of FCCBs:
(a) It is more stable and predictable than domestic currency. (b) It gives issuers the ability to access investment capital available in foreign markets. (c) Companies can use the process to break into foreign markets. (d) The bond acts like both a debt and equity instrument. Like bonds it makes regular coupon and principal payments, but these bonds also give the bondholder the option to convert the bond into stock. (e) It is a low cost debt as the interest rates given to FCC Bonds are normally 30-50 percent lower than the market rate because of its equity component. (f) Conversion of bonds into stocks takes place at a premium price to market price. Conversion price is fixed when the bond is issued. So, lower dilution of the company stocks.
earnings potential only opted for FCCBs. (b) FCCBs mean creation of more debt and a forex outgo in terms of interest which is in foreign exchange. (c) In case of convertible bond the interest rate is low (around 3-4 per cent) but there is exchange risk on interest as well as principal if the bonds are not converted in to equity. (d) If the stock price plummets, investors will not go for conversion but redemption. So, companies have to refinance to fulfill the redemption promise which can hit earnings. (e) It remains as debt in the balance sheet until conversion.
FCRA
The central government notified the Foreign Contribution Regulation Act, 2010 and it came into force from May, 1, 2011.
(d)
(e)
(f)
(g)
(h)
company engaged in the production and broadcast of audio or audio visual news or current affairs programme have been placed in the category prohibited to accept foreign contribution. A new provision has been introduced to the effect that no person who receives foreign contribution as per provisions of this Act, shall transfer to other person unless that person is also authorized to receive foreign contribution as per rules made by the Central Government. Another new provision has been made to the effect that foreign contribution shall be utilized for the purpose for which it has been received and such contribution can be used for administrative expenses up to 50 per cent of such contribution received in a financial year. No funds other than foreign contribution shall be deposited in the FC account to be separately maintained by the associations etc. Every bank shall report to such authority, as may be prescribed, the amount of foreign remittance received, sources and manner and other particulars. Provision has been made for inspection of accounts if the registered person or person to whom prior permission has been granted fails to furnish or the intimation given is not in accordance with law. Any person contravening the provisions of the Act shall be punishable with imprisonment for a term which may extend to five years or with fine or with both.
may be used for emerging market bonds, mortgage backed securities, corporate bonds and local government bond. The buyer of a credit default swap pays a premium for effectively insuring against a debt default. He receives a lump sum payment if the debt instrument is defaulted. The seller of a credit default swap receives monthly payments from the buyer. If the debt instrument defaults they have to pay the agreed amount to the buyer of the credit default swap. Process: A CDS contract involves the transfer of the credit risk of municipal bonds, emerging market bonds, mortgagebacked securities, or corporate debt between two parties. It is similar to insurance because it provides the buyer of the contract, who often owns the underlying credit, with protection against default, a credit rating downgrade, or another negative credit event. The seller of the contract assumes the credit risk that the buyer does not wish to shoulder in exchange for a periodic protection fee similar to an insurance premium, and is obligated to pay only if a negative credit event occurs. It is important to note that the CDS contract is not actually tied to a bond, but instead references it. For this reason, the bond involved in the transaction is called the reference obligation. A contract can reference a single credit, or multiple credits.
eliminate it, avoid taking a tax hit, or just eliminate exposure for a certain period of time.
(b) Speculation:
The second use is for speculators to place their bets about the credit quality of a particular reference entity. With the value of the CDS market, larger than the bonds and loans that the contracts reference, it is obvious that speculation has grown to be the most common function for a CDS contract. CDS provide a very efficient way to take a view on the credit of reference entity. An investor with a positive view on the credit quality of a company can sell protection and collect the payments that go along with it rather than spend a lot of money to load up on the companys bonds. An investor with a negative view of the companys credit can buy protection for a relatively small periodic fee and receive a big payoff if the company defaults on its bonds or has some other credit event. A CDS can also serve as a way to access maturity exposures that would otherwise be unavailable, access credit risk when the supply of bonds is limited, or invest in foreign credits without currency risk.
Career Makers
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funds (IDFs), allowing local infrastructure developers access to money from insurance and pension funds from India and overseas, even as bank lending to roads and power projects is constrained by limits set by the central bank. IDFs are expected to provide long-term, lowcost debt for infrastructure projects. At present, banks are the main source of funding for these projects. Asset-liability mismatches and loan exposure limits to industries set by the Reserve Bank of India (RBI) have made it difficult for banks to provide long-term funding. It is here underscored that the IDF was proposed by in Budget 2011-12. The ultimate aim of the IDFs is to accelerate and enhance the flow of debt for funding the ambitious programme of infrastructure development in the country. The requirement of infrastructure in the 12th Plan has been pegged at $1 trillion. The IDF would help garner resources from domestic and offshore institutional investors, especially insurance and pension funds. Banks and financial institutions would be allowed to sponsor IDFs. In India the IDFs could be set up by NBFCs or banks, with a minimum capital of Rs 150 crore. Such a fund would be allowed to raise resources through rupee or dollar denominated bonds of minimum five year maturity. These bonds could be traded among the domestic and foreign investors. Company based IDFs would be allowed to fund projects in publicprivate partnership (PPP) which have completed one year of commercial operations. Potential investors in this category, include offshore and domestic institutional investors, high net worth individuals and non-resident Indians. If the IDFs are set up as a trust, the fund could be sponsored by a regulated financial sector domestic entity. It would have to invest 90 per cent of
its assets in the debt securities of infrastructure companies or SPVs across all infrastructure sectors. Minimum investment by trustbased IDF would be Rs 1 crore with Rs 10 lakh as minimum size of the unit. The credit risks associated with underlying projects will be borne by the investors and not by IDF, but in case of company-based IDF, the fund would bear the risk.
COMMITTEES
Fund Regulatory and Development Authority (PFRDA) should consider bringing down the minimum annual subscription of Rs 6,000 for the NPS to Rs 1,000 per year to expand its reach and coverage. The committee is of the opinion that the existing NPS architecture did not have a push factor and the absolute value of incentives was flawed. It said there was a need to broadbase the network of points-of presence or PoPs, which act as contact centres for potential subscribers across the country.
The committee, headed by G N Bajpai, former chairman of the Securities and Exchange Board of India, set up by the pension regulator to suggest ways to energise the national pension scheme (NPS) has submitted its report. In this report, the committee has proposed a complete change in its incentive and fee structures. To enthuse points of presence (PoPs) to push the NPS, the committee has recommended that PoPs be allowed to charge an ad valorem rate of 0.5 per cent of the subscription amount from subscribers. The committee has further recommended that the Pension
the customs notifications with the policy (on deemed export scheme), the committee has been asked to improve the drafting of the policy as it exists today so that it is not amenable to multiple interpretations. The move follows the governments attempt to check leakages so that a scheme is not open to misuse. The Deemed exports are those transactions in which goods supplied to the users do not leave the country and payment for such supplies is received either in Indian currency or in foreign exchange. Supply of goods to exportoriented units, software technology parks or to projects financed by multilateral agencies and to power projects and refineries are treated as deemed exports at present. The benefits include those available under export promotion schemes.
urbanisation. The committee has also projected an investment requirement of Rs. 39.2 lakh crore for our cities and towns for 2012-32. The committee needs to be complimented for the thoroughness with which it has gone about its work.
Rangarajan Committee
The committee, headed by the Prime Minister's Economic Advisory Council chairman, C Rangarajan, has strongly recommended to wipeout the distinction between plan and nonplan expenditure. The end of distinction would bring simplicity and instead of three columns at present, Plan, Non-Plan and total, there will be only one column, i.e., expenditure. And moreover, there is no place where such a distinction (Plan and non-Plan) is made. It is, however, not in favour of reclassifying revenue and capital expenditure. The way revenue expenditure (revenex) is classified in the Budget is considered obsolete by many, as the method does not give a true picture of the expense in creating capital assets. It has been argued that if the end-use of funds is for capital creation, it should be classified as capital expenditure (capex). For examples, aid to states for spending on infrastructure development is classified as September 2011, Volume: 09
A Rahmani Panel
Nuclear Power Corporation of India has set up a committee under A Rahmani of the Bombay Natural History Society to study on marine ecology and bio-diversity in the 10 kilometre area around the Jaitapur site and to suggest the possible impact of the 9,900-MW nuclear power park at Jaitapur on the ecology and bio-diversity of the area. Career Makers
revenex, though it is in the nature of capex. Infact, Plan expenditure is aimed to measure what is spent on productive asset creation for the government's programmes and flagship schemes. Non-Plan expenditure includes defence expenditure, subsidies and devolution to states, forming a major part of total government spending.
INTERNATIONAL
AFFAIRS
Tourism Sector. This was decided at a meeting between Stas Misezhnikov, Tourism Minister of Israel and Union Tourism Minister, Subodh Kant Sahai held in New Delhi on 5 September 2011. Welcoming the visiting dignitary, Sahai said both the countries can explore the possibilities of cooperation in wellness, spiritual and religious tourism. The Israeli Minister said hoteliers of his country are interested to set up hotels in India. He also requested for more flights between India and Israel. Stas Misezhnikov invited Sahai to visit Israel. Both the countries have decided to consider exchanging experience in destination management and promotion. Manpower development will be another area of cooperation between India and Israel. Exchange programme for teachers, students, and exchange of information on teaching modules will be considered by the two countries. Tour operators and travel agents of both the countries will interact with each other in order to promote two-way tourism between India and Israel. The possibilities for promoting package tours in either of the countries will also be explored by the travel trade of two countries. Tourist traffic from Israel to India was 40581 in 2009, which rose to 43539 in the year 2010. An agreement between India and Israel on cooperation in the field of tourism was signed in New Delhi in May, 1993. Both the countries have rectified this agreement. India Tourism Office located in Frankfurt is responsible for promoting India as a tourist destination in the Israeli market. India Tourism Office participates in International Mediterranean Tourism Market (IMTM) which is held in Tel Aviv to showcase Indias tourism destinations and products to the tour
operators and consumers of Israel. India is known in Israel as an ancient nation with strong cultural traditions and in popular Israeli perception India is an attractive, alternative tourist destination.
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of 83 stars and their Persian names as well as the Persian names for the North and South Poles. "The rare and unique celestial globe is estimated to fetch between 40,000 to 96,000 pounds at the next sale of Indian and Islamic art on October 4 in New Bond Street in London," according to an official of the auction house. The globe dated 1776 AD, the only known dated example securely attributable to the Zand period is an important addition to the small surviving group of Persian celestial globes. "The use of gold and the very fine script indicate the possibility that this globe was made for the Zand ruler Mohammed Karim Khan Zand (1751-1794)," says the auction house. The Zand period is remarkable for its short length and high artistic productivity. Spanning only 44 years, and an incredible seven rulers, it was a period of relative peace and economic growth when many territories previously lost to the Ottomans were recaptured. The British established a trading post in the port of Busehr, extending the influence of the British East India company in Iran. The art of this era produced a distinct school of painting, fine enamel work and calligraphy. Celestial globes were used primarily for solving problems in astronomy. Although known to have been used in antiquity, the form of the celestial globe came into being in the Islamic world. The globe depicts various constellations in the northern and the southern hemisphere. Only 200 instruments remain in private and museum collection worldwide, the earliest dating to the 11th century. The globe up for auction Career Makers
features labelled stars such as the Pole star, the back of the Lion, three stars in the tail of Ursa major, Sirrah in Pegasus, the knee of the Archer among others. Also included in the upcoming Bonhams auction is a Persian manuscript illustrated with eleven miniatures in the Kashmiri style. The manuscript on creamcoloured paper which was according to the auction house formerly in the collection of Lady George Scott, wife of the youngest son of the Duke of Buccleuch and Queensberry has been estimated to sell between 1,200 pounds and 1,500 pounds. A 16th century Iznik brass flask from a private Belgian collection is also being offered on sale. The flask estimated to sell between 60,000- 80,000 pounds is sourced from the family of the man whose company was commissioned to build the Heliopolis Palace hotel in Egypt which later became the Presidential Palace of the recently deposed Egyptian Prime Minister Hosni Mubarak.
oversee implementation of various initiatives being taken under the framework agreement. In a 65-point joint statement issued at the end of the Prime Minister Manmohan Singh's two-day visit to Bangladesh, the two nations underscored the need for concluding and extradition treaty between the two countries expeditiously.
Typhoon Talas
A typhoon that pummelled western Japan left at least 20 people dead and more than 50 missing, reports said on Sunday, after swollen rivers swept away buildings and landslides crushed houses. One of the victims drowned after flood waters gushed into his car and streets were submerged in scenes that rekindled memories of the March 11 tsunami disaster.
Thousands of people were left stranded. Typhoon Talas, which made landfall on Saturday and is one of the deadliest in recent years, packed gusts of up to 108 kilometres (68 miles) per hour as it cut across the island of Shikoku and the main island of Honshu. The government set up an emergency task force as the number of victims looked set to grow and landslides and damaged roads hampered relief efforts. In Wakayama prefecture, 12 people were killed and 29 were missing. One man drowned after flood waters surged into his car, and another man was killed after a landslide hit his house, the local government said. In Nara prefecture's Totsukawa village, an overflowing river washed away
Manmohan Singh Visited Bangladesh to Sign the Historic Protocol on Land Boundary Agreement
Prime Minister of India, Manmohan Singh visited Bangladesh on 6-7 September 2011. During his visit, India and Bangladesh signed several agreements including the Historic Protocol on Land Boundary Agreement. India and Bangladesh also signed the framework agreement on cooperation for development. During this visit, India and Bangladesh decided to set up a joint commission led by the Minister of Foreign and External Affairs from both sides to coordinate and Career Makers
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apartments, leaving at least two people dead and seven missing, the local government said. In the Kansai region and elsewhere up to 30,000 people were evacuated, according to the fire and disaster management agency. Television footage showed massive landslides crushing wooden houses in mountainous communities, with muddy water submerging streets and washing away wooden debris and cars. A tally by the Kyodo news agency showed at least 20 people had been killed, more than 50 were missing and 3,600 were left stranded by landslides and collapsed bridges.
administrative arrangements to provide social security to people working in India and Korea.
The Election Commission of India has launched the India International Institute of Democracy and Election Management. It is an advanced resource centre of learning, research, training and extension for participatory democracy and election management.
(a) Training and Capacity Development. (b) Voter Education and Civic Participation (c) Research, Innovation and Documentation. (d) International Projects and Technical Collaboration.
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NATIONAL AFFAIRS
IIDEM Launched
States average are identified. The districts for implementation of NFSM-Pulses are selected based on existing large area under pulses, potential for area expansion through inter-cropping and utilization of rice fallows. Later, from the year 201011, the Pulses component of Integrated Scheme for Oilseeds, Pulses, Oilpalm & Maize (ISOPOM) was merged under NFSM-Pulses to cover 100% area in the NFSMPulses districts. The Ministry of Agriculture had received requests from some States, including Gujarat and Uttar Pradesh for inclusion of new districts/replacement of existing districts. The districts that fulfilled the criteria were included under the programme.
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be in force till December 2018. The project would impact an area of 4,003.07 hectares.
Commonwealth Express
The Commonwealth Express Train showcasing achievements by Department of Information Technology (DIT) in the field of ICT and e-Governance was launched on 24th June, 2010 and ended its journey on 14th Oct. 2010. The Commonwealth Express, the exhibition train on the theme of information technology and sports, run jointly by DIT, Ministry of Communications and Information Technology and Railway Sports Promotion Board (RSPB), Ministry of Railways was flagged off on 24th June 2010. It ended its journey on 14th October 2010, covering 49 unique halts across the nation. In the train, the IT part was exhibited in 6 coaches by DIT and the sports part was exhibited in 5 coaches by RSPB. DIT exhibited and demonstrated capability in general, the work done in the country in the area of information and communications technology, and the initiatives carried out by the DIT affiliated entities in the fields of e-governance, infrastructure, technology relevant to rural India, language interfacing technology etc. At the end of the journey, the cumulative football (visitor count) for about 100 days of exhibition was approximately 7.35 lakhs. The cost incurred for Commonwealth Express Train by DIT is Rs 3,77,26,899/-.
rural areas of the country was 21.9 per cent as per census 2001, but with the effective implementation of Total Sanitation Campaign, its coverage in the rural areas has increased to approximately 73 per cent as of July 2011. The Total Sanitation Campaign (TSC), a comprehensive programme was started in the year 1999 to ensure sanitation facilities in rural areas with the main objective of eradicating the practice of open defecation and ensuring clean environment. It is project based programme taking district as a unit operated in a demand driven mode and at present, is being implemented in 607 rural districts of the country. The main components under the programme are incentives for Individual Household Latrines (IHHL), School Sanitation and Hygiene Education (SSHE), assistance for Community Sanitary Complex (CSC), Anganwadi toilets and Solid and Liquid Waste Management (SLWM).
the season variability of monsoon rainfall, the areas of excess and deficient rainfall vary from year to year. Department has Launched a high-priority Programme to address the Science issues of Global and Regional Climate Change with a well equipped state-of-the-art Center for Climate Change Research (CCCR) at Indian Institute of Tropical Meteorology (IITM), Pune for interdisciplinary research and training in the area of science of climate change. Prioritized R & D efforts are initiated to comprehensively understand the causes for the aforementioned changes in the southwest monsoon rainfall and to improve the rainfall predictions in all time scales.
Assam Government Decided to have Brand Names for the Famous Muga and Eri Silks
In Assam, the state government has taken an initiative to have brand names for the famous Muga and Eri silks. The main purpose of the move is to promote the indigenous yarn in a more systematic way within and outside the country. The state handloom and sericulture department hopes that, with a brand name, products made from muga and eri can be exported to across the globe with a higher price. Eri and muga are household names of silk in the region. North- East produces around 95 percent of Eri, of which Assam has 50 percent shares. The state also produces about 86 per cent of Muga. The use of both the silks reflects the culture and tradition of Assamese society and occupies a unique place in the socio-economic life of the people of the state. September 2011, Volume: 09
MEN'S SINGLES:
Top-ranked Novak Djokovic returned brilliantly and swatted winners from all angles to beat defending champion Rafael Nadal 6-2, 6-4, 6-7 (3), 6-1 on Monday night and earn his first U.S. Open title and third Grand Slam trophy of 2011.
Djokovic improved to 64 wins from 66 matches with 10 tournament titles in a simply spectacular year, one of the greatest in the history of mens tennis -- or any sport, for that matter. Against No. 2 Nadal, Djokovic is 6-0, all in finals -- three on hard courts, including Monday; two on clay; and one on grass at Wimbledon in July. Djokovic also won the Australian Open in January, and is only the sixth man in the 40plus years of the Open era to collect three major titles in a single season.
WOMEN'S SINGLES:
Samantha Stosur pulled off one of the biggest shocks in the history of womens Grand Slam
Career Makers
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SPORTS
US OPEN 2011 WINNERS
Current champions
Event Men's Singles Women's Singles Men's Doubles Women's Doubles Mixed Doubles Champion Novak Djokovic Samantha Stosur Jurgen Melzer Philipp Petzschner Liezel Huber Lisa Raymond Melanie Oudin Jack Sock Runner-up Spain Rafael Nadal Serena Williams Mariusz Fyrstenberg Marcin Matkowski Vania King Yaroslava Shvedova Gisela Dulko Eduardo Schwank
tennis finals by comprehensively outplaying a frustrated Serena Williams and claiming the U.S. Open title with a 6-2, 6-3 win on September 11. Stosur claimed her first Grand Slam singles title and became only the second Australian to win the U.S. Open crown by dominating a match which she was widely expected to lose to the home favourite. Williams lost her composure, arguing with the chair umpire after being docked a point for shouting out in the midst of a rally. It was reminiscent of the ugly tirade against a line judge two years ago. The overwhelming favourite for the match, Williams suffered only her second ever loss in a Grand Slam final to someone other than sister Venus; she was beaten by Maria Sharapova in the 2004 Wimbledon decider.
constantly abusing Indian players from the roof of the stadium. Whenever there was an infringement from the Indian side, he abused liberally. Rajpal Singh, Danish Mujtaba, Yuvraj Walmiki and Sarvanjit Singh scored for India in the penalty shootout while Muhammad Rizwan and Waseem Ahmed sounded the board for Pakistan after both the sides were locked goalless in the regular and extra time.
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Career Makers 5) IFC Answer: (3) 3) China Development Bank 4) IDA 1) World Bank 2) IMF the second installment of $ 400 million from ........... 5) Canara Bank Answer: (3) 3) Oriental Bank of Commerce 4) Indian Overseas Bank 1) Indian bank 2) Axis Bank recapitalization package to shore up banks equity capital? Rs.1740 crore under the 4) 8 days 5) 30 days 2) 14 days 3) 7days of India? 1) 12 days the new order of Reserve Bank reimbursed or else the bank has to pay Rs. 100 per day as per 5) 5 Answer: (3) 4) 10 2) 4.5 3) 4 .percent? 1) 5 banks? pricing. 5) IDA 4) IBRD 3) ADB 2) UNO 1) IFC
2) Allahabad bank
1) IDBI bank
Answer: (4)
4) Increasing trend
3) Zero trend
2) Constant trend
1) Decreasing trend
Answer: (1)
5) None of these
4) Lakshmi Venkatachalam
3) Vineeth Verman
2) Robert Zoellick
1) John Lipsky
( IMF) is ...........?
Answer: (3)
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least 40 years back. years in a row. 3) The company must be started 10,000 crore in the last three 2) The company must have an average annual net worth of Rs. turnover of Rs.20,000 crore in the last three years. up the wrong one? 1) They should have annual company as Maharatna changed on 17 March 2011. Pick The norms to brand any 5) None of these Answer: (3) 4) Indian mode of keeping the money in the savings account legal channels funds out of India or into the country, by passing official and the government of India 3) a mode of transferring of 2) The transaction done in the bank through proper channel of 1) The transaction done in the bank ...........? 4) State Bank of Patiala 5) State Bank of Mysore 2) State Bank of Travancore 3) State Bank of Indore India in 2010? 1) State Bank of Hyderabad was merged with State Bank of 5) Bank of Maharastra
4) The company must get the average profit of Rs. 2500 crore. 5) None of these Answer: (3) 12. The biggest single day jump registering 623.10 points since May 2009 occurred in Bombay Stock Exchange sensex. This event occurred on.? 1) 11th March 2011 2) 1st January 2011 3) 3rd January 2011 4) 2nd April 2011 5) 1st March 2011 Answer: (5) 13. Tummalapalle, Kadapa District, Andhra Pradesh came in to news as the deposits of ...........mines found? 1) Thorium 2) Radium 3) Molybdenum 4) Manganese 5) Uranium Answer: (5) 14. Sulabh International provides the costeffective and environment friendly technology in the providing toilets in the ...........? 1) NAM 2) ASEM 3) APEC 4) ASEAN 5) SAARC Answer: (4) 15. The Award list is given. Pick up wrong one? 1) Man Booker International prize winner Philip Roth ( American author) 2) Award Jawaharlal got by Nehru German International Understanding Chancellor Angela Merkel Career Makers
3) C.K.Naidu life achievement award got by Salim Durani, the famous test cricketer 4) Rajkumar Award got by Saroja devi 5) None of these Answer: (5) 16. Deodhar Trophy won by ...........? 1) South Zone 2) East Zone 3) West Zone 4) North Zone 5) Central Zone Answer: (4) 17. Exchange Control Manual is the publication ofin the context of foreign exchange 1) Finance Minister 2) Department of Commerce 3) Foreign Trade Promotion Board 4) SEBI 5) Reserve Bank of India Answer: (5) 18. ........... called the chief
and Cash Risk 2) Market Risk, Operational Risk and Credit Risk 3) Lending Risk, Operational Risk and Payments Risk 4) Floating Risk, Payment Risk, Credit Risk 5) None of these Answer: (2) 21. Financial Inclusion do not include ...........? 1) Every Indian must hold a bank account 2) Reaching of Banking services to the door steps the common people even in rural areas 3) Business Correspondents will be appointed by the bank to deliver the banking services in rural areas 4) Opening of No frill accounts 5) Opening of satellite banks, door step banking etc Answer: (1) 22. Which Bank is set to open the overseas branches in Mozambique, Bhutan, Hong Kong, Dubai and Sri Lanka in the coming days? 1) State Bank of India 2) Indian Bank 3) Central Bank of India 4) Syndicate Bank 5) Indian Overseas Bank Answer: (3) 23. Pure Banking nothing Else is the punch line of ...........? 1) S.B.I 2) S.B.H 3) Allahabad Bank 4) Syndicate Bank 5) IDBI Answer: (1) 24. The paper currency does not bare the signature of RBI governor is ? 1) 10 rupee September 2011, Volume: 09
Coordinator of the rural credit in India? 1) RBI 2) Co-operative banks 3) NABARD 4) SBI 5) RRB Answer: (3) 19. ........... Committee submitted the report to prime minister of India on Consumer Affairs insisted to ban the futures trading in the essential commodities? 1) Kiran Kumar Reddy 2) Sivaraj Singh Chouhan 3) Narendra Modi 4) Ashok Gehlat 5) Prudveeraj Chouhan Answer: (3) 20. BASEL committee recognizes three risks. They are ...........? 1) Market Risk, Operational Risk
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2) 20 rupee 3) 50 rupee 4) 100 rupee 5) 1 rupee Answer: (5) 25. Apple Advance Scheme launched in ....? 1) Jammu and Kashmir 2) Haryana 3) Uttarakhand 4) Andhra Pradesh 5) Arunachal Pradesh Answer: (1) 26. ........... is not the part of the RBI monetary and Credit Policy? 1)Repo rate 2) Cash Reserve Ratio 3) Reverse Repo Rate 4) Foreign Exchange Rate 5) All of the above Answer: (4) 27. The last journey of ........... returned to Cape Canaveral on March 9, 2011? 1) Columbia 2) Ariana 3) Messenger 4) Apollo 5) Discovery Answer: (5) 28. The Abbreviation list is given. Pick up wrong one? 1) ODA- Overseas Development Assistance 2) LPD- Landing Platform Docks 3) EMMRC -Educational Multimedia Research Centre 4) CRAR -Capital to Risk Weighted Assets Ratio 5) NSDC -National Skill Dealing Council Answer: (5) 29. Indias wild tiger population was increased by ........... percent in the last 4 years. 2010 census telling the tiger population was 1706? Career Makers
1) 18 2) 24 3) 10 4) 12 5) 20 Answer: (4) 30. ...... express run by railways connect state capitals and important towns within the state? 1) Kavi Guru 2) Vivek 3) Matrubhumi 4) Karmabhomi 5) Rajya Rani Answer: (5) 31. A high-level Committee headed by the Chairman of ........... to examine ways of strengthening laws to curb generation of illegal wealth? 1) Central board of Direct Taxes 2) State bank of India 3) IRDA 4) SEBI 5) FICCI Answer: (1) 32. Distribution of subsidized sanitary napkins to adolescent girls in the age group of ........... years in rural India start on 1 August 2011? 1) 8 -12 2) 10 -14 3) 15 -18 4) 10 -19 5) 18 -21 Answer: (4) 33. ........... allowed the women employee for 2 years leave during their entire service period for childrens proper care? 1) Uttarakhand 2) Andhra Pradesh 3) Goa 4) Tamilnadu 5) Bihar Answer: (1)
34. Which state distributed 2 crore health cards to School children for regular check-up and treatment for them? It will be come in to effect from 22 March 2011, on the eve of the state formation day. 1) Andhra Pradesh 2) West Bengal 3) Bihar 4) Karnataka 5) Goa Answer: (3) 35. May day list given. Pick up wrong one? 1) International Labour day May 1 2) World Asthma day - May 2 3) International Energy day May 4 4) Red Cross day - May 8 5) Mohters day - May 2nd Sunday Answer: (3) 36. Extraordinary International Energy Forum meeting was held in.February 2011? 1) Doha 2) Moscow 3) Oslo 3) Dubai 5) Riyadh Answer: (5) 37. Sixth BASIC ministerial meeting on Climate Change held in? 1) Bejing 2) Durban 3) Johannesburg 4) New Delhi 5) Brasilia Answer: (4) 38. G-8 countries list is given. Pick up the not one among them? 1) U.K 2) Australia 3) Canada September 2011, Volume: 09
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4) Russia 5) France Answer: (2) 39. ........... government banned the bartan system which allows the upper caste people to extract work from barbers during and family washermen occasions? 1) Meghalaya 2) Odisha 3) Andhra Pradesh 4) Assam 5) Maharastra Answer: (2) 40. Sanchar Shakti is a scheme benefit ........... a value added service handsets? 1) health workers 2) Doctors 3) Lawyers 4) Women SHG 5) Sports persons Answer: (4) 41. An individual can not open an account in ....? 1) RBI 2) Commercial Bank 3) C0-operative Bank 4) Foreign bank 5) Private Bank Answer: (1) 42. On 7 March 2011, Supreme Court allowed ? 1) Aggressive euthanasia 2) Active euthanasia 3) Violent euthanasia 4) Vibrant euthanasia 5) Passive euthanasia Answer: (5) 43. Planned expenditure excess over the income is called.? 1) Deficit Financing 2) Scarce Financing Career Makers through mobile
3) Float Financing 4) Meter Financing 5) None of these Answer: (1) 44. Aim to introduce the KYC guidelines is? 1) to block black money and money laundering 2) to know the number of customers 3) to share the information in the computers 4) to know the authority of the person to deposit 5) all of above Answer: (1) 45. The Government of India has set up Price Stabilisation Fund for four commodities. Which of the following is NOT covered by the scheme ? 1) Tobacco 2) Coffee 3) Rubber 4) Tea 5) Jute Answer: (5) 46. The organizing committee of FIFA World Cup announced the name of the country selected to host the event to be organized in 2014. Who is the host chosen for the same ? 1) Russia 2) Venzeula 3) Bolivia 4) Peru 5) Brazil Answer: (5) 47. Who among the following is the author of the book :'Half a life'? 1) Mark Tully 2) Deepak Chopra 3) Chetan Bhagat 4) Ved Mehta 5) V.S. Neipaul Answer: (5)
48. In which one of the following states, village level marketing platform has been set up for the first time in the country? 1) Haryana 2) Maharashtra 3) Gujarath 4) Bihar 5) Kerala Answer: (3) 49. With which one of the following sports, the name of Parupalli Kashyap is associated? 1) Chess 2) Tennis 3) Badminton 4) Athletics 5) None of these Answer: (3) 50. While passing the Finance Bill the Finance Minister agreed to with draw the controversial 'misery tax' on healthcare from the tax proposals. What did this 'misery tax relate to? 1) Expenditure tax for luxury treatment 2) Service tax on air conditioned hospitals and diagnostics 3) Sales tax on expensive healthcare 4) GST on costly hospital and medical treatment 5) None of these Answer: (2)
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