CURRENT AFFAIRS 11-12th Nov., 2014

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CURRENT AFFAIRS 12th Nov., 2014

1. India’s first net zero energy building -Indira Paryavaran Bhavan has been constructed in Delhi with adoption of solar passive design and energy-efficient building materials . It has been rated under Green Rating for Integrated Habitat Assessment [GRIHA] and has set standards that can be emulated by upcoming buildings in the region.

2. During the APEC summit, the members of Asia-Pacific Economic Cooperation (APEC) members have agreed to initiate the formation of a free trade area in the Asia-Pacific (FTAAP) - a vision steered by China. According to a study, the FTAAP will add an estimated $2.4 trillion to the global economy.

3. President Pranab Mukherjee conferred the 49th Jnanpith Award on eminent Hindi poet Kedarnath Singh in New Delhi. Kedarnath Singh was conferred with the country's highest literary award for his outstanding contribution towards Indian literature.

4. Reserve Bank of India is re-thinking its role and function for the first time in it’s over 79 years of existence. RBI is seeing a shift in its role from the bland “monetary stability” (in its current Preamble) to fostering “monetary and financial stability conducive to sustainable economic growth and to ensure the development of an efficient and inclusive financial system” . The change in function is yet to be formally approved by central bank's board.

5. Centre has named actor Rajinikanth as winner of the Centenary Award for Indian Film Personality of the Year . He would be receiving the honour at the 45th International Film Festival of India to be held in Goa from November 20 to 30.

CURRENT AFFAIRS 11th Nov., 2014

1. Moody's expects India to witness, "sustained robust growth" over the next two years . It has a "Baa3" rating with a stable outlook on India, which is the lowest in the investment grade.

2. India has signed a USD 200 million loan agreement with the World Bank to finance the setting up of technology centres to help small enterprises enhance productivity.

3. Reserve Bank of India has tightened norms for non-banking financial companies (NBFCs) . It has raised the limit for NBFCs to maintain the net owned fund (NOF) requirement to four times by 2017 to Rs.2 crore. As per new norms, Tier I capital of 7.5 per cent in Capital to Risk (Weighted) Assets Ratio or CRAR should be raised to 8.5 per cent by end of March 2016 and 10 per cent by March, 31, 2017.

4. Russia has taken away its daily controls on the value of the rouble currency and allowed it to float freely in financial markets earlier than planned. The currency has come under sustained pressure in the face of sanctions over Ukraine and plummeting oil prices.

5. Prime Minister Narendra Modi has carried out his first Cabinet expansion. Manohar Parrikar, Suresh Prabhu and Arun Jaitley took charge of the Defence, Railways and I&B ministries and J P Nadda is the new Health Minister . The strength of the Union Council of Ministers has now gone up from 45 to 66.