CURRENT AFFAIRS 11-12th Oct., 2014

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CURRENT AFFAIRS 12th Oct., 2014

1. Reserve Bank of India’s (RBI) Deputy Governor S S Mundra has said the central bank plans to announce the final norms on small and payment banks next month. Small banks would provide a whole suite of basic banking products such as deposits and supply of credit but in a limited area of operations. Payment banks would offer a limited range of products such as demand deposits and remittances.

2. Olympic bronze medalist MC Mary Kom was chosen as the Most Valuable Player (MVP) of India’s Incheon Asian Games campaign. She had won gold medal in the 2014 Incheon Games in flyweight (-51kg) class. India won 11 gold, 10 silver and 36 bronze in the Incheon Asian Games.

3. Khaled Bahah was appointed as Prime Minister of Yemen by the President Abd-Rabbu Mansour Hadi. Bahah was serving as permanent representative of the Republic of Yemen to the United Nations.

4. All India National Unity Council honoured poet-diplomat Abhay K with Asia-Pacific Excellence Award for his outstanding individual achievements in the field of literature by penning Earth Anthem and SAARC song and for celebrating local, regional and global themes in his poems and writings.

5. Trade Negotiations Committee (TNC) of the World Trade Organization (WTO) has been rescheduled after last week's postponement. Governments of developing nations are pressurised to give up its demand for a permanent solution on food stocks.

CURRENT AFFAIRS 11th Oct., 2014

1. Securities and Exchange Board of India plans to revamp the product labelling framework for mutual fund (MF) schemes. Earlier SEBI had directed MF as an investor safety measure to colour-code their schemes, depending on their level of riskiness. Accordingly, MF products are assigned either blue, yellow or brown colours. The revamping could include further categorisation of equity schemes.

2. Pakistani child education activist Malala Yousafzai and Indian child rights activist Kailash Satyarthi won the Nobel Peace Prize 2014 for their struggle against the suppression of children and young people and for the right of all children to education.

3. The High court ruled in favour of British telecom major Vodafone Group saying that it didn’t have to pay additional tax of Rs 3,200 crore, as demanded by income tax authorities. The income tax department had said Vodafone India under-priced shares in a rights issue to its parent. The ruling will have a bearing on other transfer pricing cases in India.

4. Government launched India’s first National Mental Health Policy which aimed at providing psychiatric care to patients by expanding the hospital network, as well as primary care centres catering to that discipline. Universal access to mental health care is a specific goal of the government. October 10, observed as World Mental Health Day, would now also be observed as the National Mental Health Day.

5. Bollywood actor, director and producer Aamir Khan was appointed as the Goodwill Ambassador for UNICEF in South Asia. Aamir Khan will focus on supporting child nutrition to end stunting across the region.