CURRENT AFFAIRS 11-12th Sep., 2014

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CURRENT AFFAIRS 12th Sep., 2014

1. Securities and Exchange Board of India censured BSE for violating rules related to allocations in the Rs 6,000-crore NMDC offer for sale in 2012. The Bombay Stock Exchange had given orders for 45.5 million NMDC shares after the stipulated time - within half an hour of the post-close session, as stipulated under Sebi norms.

2. Reserve Bank of India (RBI) Governor Raghuram Rajan has said that abrupt reversal of low interest rates globally could create substantial amounts of damage and it should be done in a predictable and careful way. He was also worried that altering the price of capital for substantial period of time distorts investment decisions and the nature of economies.

3. Government has planned to launch Rs 2 lakh crore ($32.9 billion) worth of infrastructure projects this year. Prime Minister Narendra Modi decided that ministries can approve projects up to Rs 1000 crore (Rs. 200crore earlier) without the Cabinet approval. The decision will allow faster clearances of projects by ministries particularly infrastructure projects.

4. Union textile ministry is finalising a national policy on textiles which will be in sync with the manufacturing policy. The policy aims at bringing investment of $120 billion to achieve $650-billion growth target by 2024-25. The sector may need 35 million workers to achieve this growth target.

5. State Bank of India's first woman chairperson Arundhati Bhattacharya been featured in the '50 Most Influential' list by Bloomberg Markets. Ms. Bhattacharya is the only Indian woman to be present in the 'bankers' category of the list.

CURRENT AFFAIRS 11th Sep. 2014

1. Cabinet cleared sale of stakes in Coal India Limited, Oil and Natural Gas Corporation and National Hydroelectric Power Corporation. The stake sales will be completed through Offer for sales via e- auctions in stock exchanges. The disinvestment is expected to fetch Rs. 43000 crore.

2. Subash Chandra Garg was appointed as Executive Director in World Bank. He is a senior IAS officer of Rajasthan cadre and will have a tenure of 3 years.

3. According to UNCTAD Trade and Development report 2015, Indian economy will grow at a rate of 5.6% in 2014 compared to 4.5-5% growth rate of other developing economies. It has predicted China's growth rate to be at 7.5% in 2015.

4. ICICI has launched a new service called 'Cardless Cash Withdrawal' in which money can be withdrawn without having a debit card. The recipient who does not have a bank account can withdraw money by using a reference code sent to her registered mobile number.

5. Government is working on the concept of a digital locker of sorts - an online repository for all certificates and documents issued to the citizens of the country. Documents will be hosted over a cloud to be maintained by the govt.

The project will address the issue of counterfeiting and also save on the cost incurred in storing and maintaining physical documents.

6. According to a report,‘Bulls & Bears-India Valuation Handbook’ by brokerage firm Motilal Oswal, India is the second-highest contributor to the rise in global market capitalisation (market cap) this year. India accounts for 10.25 per cent of the overall rise of 3.9 per cent and US tops the list, accounting for 41 per cent of the rise in global market cap.