CURRENT AFFAIRS 27-28th Dec., 2014

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CURRENT AFFAIRS 28th Dec., 2014

1. Bharatiya Janata Party leader Raghuvar Das became the Chief Minister of Jharkhand. He is the first non-tribal Chief Minister of Jharkhand since it was formed in 2000.

2. Japan’s Cabinet approved about 3.5 trillion yen ($29 billion) as a fresh stimulus including subsidies and job creation to help revive the world’s third-largest economy out of recession. The stimulus also includes 420 billion yen ($3.5 billion) earmarked for helping stagnant regional economies.

3. RBI Governor Raghuram Rajan questioned the effectiveness of the government’s farm debt waiver programmes and said that such schemes had constrained credit flow to farmers. Andhra Pradesh and Telangana governments had announced loan waivers for farmers affected by Cyclone Phailin last year.

4. According to Home Ministry data, Hacking, publication of obscene contents, credit card and banking frauds among other cyber crimes have registered an annual increase of more than 40 per cent in the country in the past two years.

5. NATO has formally ended its war in Afghanistan after 13 years of conflict that has left the country in the grip of worsening insurgent violence by Taliban.

CURRENT AFFAIRS 27th Dec., 2014

1. President Pranab Mukherjee signed two key ordinances to raise the cap on foreign direct investment in the insurance sector and facilitate e-auction of coal blocks. Government recommended a re-promulgation of the coal ordinance and promulgation of a fresh ordinance for the Insurance Amendment Bill.

2. India announced a contribution of $1 million to a UN Economic and Social Commission for Asia and the Pacific (ESCAP) Multi–Donor Trust fund for strengthening early warning systems for natural disasters like Tsunami. The Indian National Centre for Ocean Information Services is developing a GIS-based 3D protocol in its efforts towards innovating new methodologies and warning procedures for tsunamis.

3. Securities and Exchange Board of India (SEBI) has passed an order on providing the exit to Bangalore Stock Exchange Ltd. (BgSE) as a stock exchange. BgSE is the seventh stock exchange to exit under the policy issued by the stock market regulator.

4. Sebi will set up an expert panel to suggest measures for increasing distribution of Mutual Fund products through digital modes such as internet and mobiles. The sub committee is to be headed by M N Gopinath and will submit a report to the Sebi.

5. India's stock market has lost its first position of being the best performer globally in 2014 to neighbour China. China's Shanghai Composite Index surged over 49% in 2014 against BSE Sensex's rise of 29% in the last lap.