CURRENT AFFAIRS 21-22nd Sep., 2014

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CURRENT AFFAIRS 22nd Sep., 2014

1. Securities and Exchange Board of India has sought additional information from Reliance Industries (RIL) on the takeover of Network18 and TV18 Broadcast. The announcement of the take over of two firms by RIL through its Independent Media Trust (IMT) was done in May this year and SEBI is studying the information that had been already filed.

2. The initiative of South Canara District Central Cooperative (SCDCC) Bank Ltd to make primary agricultural cooperative societies (PACS) as part of the payment system under the RuPay Kisan credit card will be taken as a model by NABARD. PACS, under SCDCC Bank’s jurisdiction, directly give loans to farmers. These societies open accounts in the books of SCDCC Bank.

3. G20 nations have decided to create a mechanism for automatic exchange of tax information between various countries by 2017. This will help India in dealing with the menace of black money stashed abroad. Currently information is exchanged based on requests and only in cases of financial crimes.

4. Union Government and the pharma industry will jointly create a trust named Responsible Health Care Trust to promote the brand image of Indian pharma globally and fight malicious campaigns.

5. Voreqe Bainimarama was sworn in as new Prime Minister of Fiji by President Epeli Nailatikau. He had won 60 percent of the seats in the 2014 elections in Fiji.

CURRENT AFFAIRS 21st Sep., 2014

1. Scotland chose decisively against independence from United Kingdomin the referendum conducted yesterday. 45 per cent of Scots voted to abandon the United Kingdom while the "no" campaign had won 55.3 per cent of the vote, ensuring a more powerful Scotland within Britain. The Scotland is expected to get even more regional and national autonomy from United Kingdom.

2. State Bank of India and ICICI Bank have signed agreements with the Export Import Bank of China (China Exim Bank) for Lines of Credit (LOC) amounting to $1.8 billion and $1 billion respectively. The Credit will be used for projects involving import of Chinese raw materials, energy, equipment, mechanical and electronic products and any other projects mutually agreed on by the two banks.

3. Election Commission of Afghanistan declared Ashraf Ghani Ahmadzai as the President-elect of Afghanistan. It was announced after a Unity deal signed between Ghani and his rival Abdullah Abdullah, former foreign minister of Afghanistan.

4. According to a report by Moody, Major public sector banks in India will need to raise Rs. 1,50,000 crore to Rs. 2,20,000 crore ($26-$37 billion) between 2015 and 2019 for the full implementation of Basel III. Banks may raise the amount through the equity markets but low bank valuations will make it difficultto raise the required amount.

5. As per RBIs data, Largest lender State Bank of India has emerged as the leader in mobile banking with 50 per cent market share in this segment. It has over 1.15 crore registered mobile banking customers.