CURRENT AFFAIRS 25-26th Sep., 2014

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CURRENT AFFAIRS 26th Sep., 2014

1. Government has proposed 'Bharat Depository Receipts' (BhDR) and the new scheme complementary to the existing ADR or American Depository Receipt regime under which Indian companies get listed on the American stock exchanges. A government-appointed panel, headed by M S Sahoo, had proposed BhDRs -a rupee dominated instrument that would be issued by domestic depository against listed equities or other financial assets of a foreign company.

2. Supreme Court cancelled all but four coal block allocations, made by successive governments since 1993 on the grounds of illegality and arbitrary decisions under the Coal Mining Nationalisation Act. SC order may have ramifications for the banks and banks may seek regulatory forbearance if the ruling impacts asset performance.

3. Standard and Poor’s improved India’s outlook to stable from negative due to the new governments push for reforms and its capacity to put the country back on high growth trajectory. It has affirmed the ‘BBB-/A-3′ sovereign credit rating on India and revised the outlook on the long-term rating to stable from negative. This reduces risk of any possible sovereign rating downgrade.

4. Former U.S. spy agency contractor Edward Snowden and Alan Rusbridger, editor of The Guardian won Right Livelihood Award. The Right Livelihood Award is also known as Alternative Nobel prize of Sweden.

5. Cricketer Sachin Tendulkar and Steve Waugh of Australia were selected as Bradman Honouree 2014. It was announced by The Bradman Foundation on 22 September 2014. Sachin Tendulkar was selected for Bradman Honouree because he has scored more Test runs than any other cricketer in history.

CURRENT AFFAIRS 25th Sep., 2014

1. Securities and Exchange Board of India (Sebi) will issue a discussion paper to formalise and address issues pertaining to the Private Investment in Public Equity (PIPE) funding. A PIPE funding is purchase of shares in a company at a discount to the current market value for the purpose of raising capital by private investment firms or qualified investors.

2. India's first vocational university has been set up in Gujarat. It is a joint venture between the State of Gujarat and human resources (HR) services company TeamLease. It is based on the 'Community College' model popular in the US.

3. According to Forbes, the 100 richest tycoons in India are all billionaires for the first time with Mukesh Ambani topping the list for the eighth consecutive year. He is followed by Dilip Shanghvi, Wipro’s Azim Premji, Pallonji Mistry and steel baron Lakshmi Mittal.

4. Securities and Exchange Board of India (SEBI) will be formally annoucning the guidelines for Real-estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) this week. These trusts are like mutual funds that raise resources from many investors which will be directly invested in realty or infrastructure projects.

5. Prime Minister Narendra Modi launched “Make in India” worldwide campaign, aimed to make India a global manufacturing hub by attracting global and domestic investors to invest and manufacture in India.