CURRENT AFFAIRS 3-4th Nov., 2014

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CURRENT AFFAIRS 4th Nov., 2014

1. Finance Ministry has asked Reserve Bank of India Governor Raghuram Rajan to provide greater flexibility to banks funding stalled infrastructure projects. It has sought to de-link the extent of cost overruns as a condition for classifying any project as a restructured asset.

2. Reserve Bank of India announced an Open Market Operations (OMO) sale of government bonds for an aggregate amount of Rs 10,000 crore. The yield on the 10-year benchmark bond had dropped for a third consecutive session than the earlier-than-expected rate cut by the central bank.

3. According to a study conducted by the Internet & Mobile Association of India (IAMAI), Mumbai recorded the largest number of internet users in India in 2014. Mumbai recorded 16.4 million internet users surpassing Delhi and Kolkata. In terms of growth in the number of internet users, Delhi recorded the highest growth with a 50 percent year-on-year increase.

4. Global rating agency Standard & Poor's (S&P) has cut long-term issuer rating for Indian Overseas Bank (IOB) from “BBB-“ to “BB+” on sharp deterioration in the asset quality. IOB’s non-performing loan ratio rose sharply to 7.3 per cent and the share of gross standard restructured loans outstanding in IOB's loan book is also high at 7.85 per cent.

5. Sachin Tendulkar’s autobiography Playing It My Way was launched in Mumbai in the presence of some of his former teammates, celebrities and family members. At the launch he presented a copy to his mentor and childhood coach Ramakant Achrekar.

CURRENT AFFAIRS 3rd Nov., 2014

1. Government proposes to install ATM-style touchscreen kiosks in court complexes from where case status and daily orders can be procured in the coming days. It will help litigants to get easy access to court documents by cutting down lengthy procedures. The Law Ministry has also proposed setting up video conferencing facility in all courts of the country and prisons.

2. Nabard has set up a Rs 1,000-crore corpus for lending to cold chains which will ensure creation of the necessary infrastructure for the agriculture and allied sectors. Public, private players, cooperative sectors and farmer producers organisations (FPOs) can avail of the direct credit window at competitive interest rates.

3. World Economic Forum (WEF) with the Confederation of Indian Industry (CII) will organise a three-day India Economic Summit. The theme is "Redefining Public-Private Co-operation for a New Beginning".

4. The Mudgal committee investigating spot-fixing allegations in the IPL has submitted its final report to the Supreme Court, which will take it up on November 10. The report could determine whether ICC chairman N Srinivasan can seek re-election as president of the BCCI. Earllier the court barred Srinivasan from carrying out his duties as president of the BCCI until it had delivered its final verdict, but did not stop him from heading the ICC.

5. Union HRD ministerSmriti Irani has said that the new educational policy of the NDA government is likely to be rolled out next year. It is expected that the government will involve principals, teachers and students in the educational policy deliberations.