CURRENT AFFAIRS 15-16th Sep., 2014

DOWNLOAD PDF

CURRENT AFFAIRS 16th Sep., 2014

1. Foreign portfolio investors (FPIs) structured as companies were asked to pay minimum alternate tax (MAT) on their gains in Indian markets by the tax department. Presently FPI pays tax only on short term capital gains. The additional tax on long term capital gains will discourage foreign investments into the country.

2. Information technology (IT) services company Cognizant has signed a deal to acquire US-based TriZetto in an all-cash deal valued at $2.7 billion (around Rs 16,510 crore). The deal will be the most expensive acquisition by an offshore-centric Indian IT services company.

3. The wholesale price index (WPI) based inflation rate fell to a 5 year low of 3.74 per cent in August due to slowing down of price rise across all broad categories. Despite low inflation, RBI may not reduce its repo rate during its September monetary policy review due to the risk of retail inflation caused by weak monsoon.

4. State-run Canara Bank is awaiting government approval to raise Rs 3,500 crore through a qualified institutional placement (QIP). It has already got RBI approval and has appointed merchant bankers.

5. Actor Leonardo DiCaprio was appointed as United Nations Messenger of Peace with a special focus on climate change. As a Messenger of Peace he will address the UN Climate Change Summit in the US on 23 September 2014.

CURRENT AFFAIRS 15th Sep., 2014

1. Sebi is likely to extend the compliance deadline for meeting the new corporate governance norms till April 1. It may relax provisions like requirement of women directors, mandatory use of e-voting facility in shareholder meetings. A committee may be formed to look into practical difficulties in the implementation of compulsory electronic voting (e-voting) at shareholder meetings.

2. Reserve Bank of India Governor Raghuram Rajan has said reducing the number of free transactions at non-home bank automated teller machines (ATMs) from five to three a month was necessary as banks have to pay for such transactions. However banks can choose to subsidise. The move will reduce the hidden cross-subsidy and make it more transparent.

3. Member of BJP’s national executive Ms. Lalitha Kumarmangalam was appointed as the chairperson of the National Commission for Women (NCW). Ms. Kumarmangalam is from Tamil Nadu and runs an NGO called Prakriti.

4. Centre has informed the Supreme Court that the Human DNA Profiling Bill was currently held up and hence not able to create a national DNA data bank. Privacy concerns, lack of experts and handful laboratories as the prime reasons for not being able to push the Bill. The bill aimed at profiling the accused of serious crimes, and unidentified dead.

5. The Urban Development ministry is planning to introduce a scheme that will ensure toilets to all the people living in urban areas similar to the scheme for rural areas. The scheme will benefit slum dwellers and people living in unauthorised colonies who do not have access to basic sanitation facilities.