CURRENT AFFAIRS 19-20th Dec., 2014

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CURRENT AFFAIRS 20th Dec., 2014

1. Securities and Exchange Board of India has barred 260 entities including individuals and companies from the securities markets for suspected tax evasion and laundering of black money through stock trading platforms. SEBI has also decided to refer the matter to the I-T Department, the Enforcement Directorate, the Financial Intelligence Unit for necessary actions.

2. Mid-Year Economic Analysis for the current year has been tabled in Parliament by Union Finance Minister Arun Jaitley. The Review projects 2014-15 growth will be 5.5 per cent. It says that over-indebtedness in India’s corporate sector is amongst the highest in the world. Centre faces a major challenge in achieving its fiscal deficit target of 4.1 per cent of GDP in the current year.

3. Central Board of Direct Taxes (CBDT) signed its first bilateral Advance Pricing Agreement (APA) with a Japanese company. The agreement will bring certainty and uniformity in transfer pricing matters of multinational companies and reducing litigation and will improve the investment climate in the country.

4. Foreign Investment Promotion Board has cleared HDFC Bank's proposal to raise Rs 10,000 crore to enhance its capital base. The proposal will have to get the approval from Cabinet Committee on Economic Affairs that clears foreign investment proposals in excess of Rs 1,200 crore.

5. A 10-year defence framework with the United States is expected to be finalised during President Barack Obama’s visit to India. The new framework will replace the existing agreement of June 2005 and will outline a series of exchanges between Indian and U.S. officials including upgraded military and naval exercises, as well as ‘knowledge partnerships’ between the national defence universities in both countries.

CURRENT AFFAIRS 19th Dec., 2014

1. . Reserve Bank of India (RBI) is engaging with state governments across the country and is making efforts to improve coordination between regulators and law enforcement agencies for early identification of financial malpractices. States, including West Bengal have also created sub-committees under their state-level co-ordination committees.

2. . ICICI Bank is selling its subsidiary in Russia and repatriating capital from its UK (United Kingdom) and Canada arms. It is shrinking its international balance sheet due to uncertain global macroeconomic environment, strict regulations and limited growth opportunities.

3. . India exports its first offshore patrol vessel (OPV) named "Barracuda" to Mauritius. The 1,300-tonne and $58-million (Rs 365 crore) vessel is built by Garden Reach Shipyard & Engineers (GRSE).

4. . Maldives has joined China’s 21st Century Maritime Silk Road project. It become the second nation after Sri Lanka to sign up for the multi-billion infrastructure scheme floated by Beijing to increase its influence in the region.

5. . Government came out with a bidding mechanism for auction of 65 mines to private players and 36 other blocks will be directly allotted to state-owned companies. There would be different criteria for auction to regulated sector, including power, and unregulated sectors.

6. . The Indian Space Research Organisation successfully tested its Geosynchronous Satellite Launch Vehicle-Mark III (GSLV-Mark III) carrying a crew module to be used in manned space missions. The launch has proved Isro can put an astronaut into space and bring him or her home. This is the the heaviest launch vehicle Isro has made.