CURRENT AFFAIRS 7-8th Nov., 2014

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CURRENT AFFAIRS 8th Nov., 2014

1. Insurance Regulatory and Development Authority (IRDA) is tightening norms of the expenses of management in life insurance companies . This will bring down premiums in participating (par) products for customers, since higher expenses would not be allowed in the par product segment.

2. Finance ministry has asked Securities and Exchange Board of India (SEBI) to promote awareness among retail investors about the sale of public sector unit stakes (PSUs) to increase their participation in the government's disinvestment programme. SEBI may try to spread awareness through tickers on TV channels, websites and bulk messages.

3. India and Bhutan agreed to collaborate on the noble objectives of the establishment of Nalanda University in Bihar to develop the institution as an international centre of excellence during President Pranab Mukherjee’s visit to Thimpu.

4. India and Israel have signed three agreements related to homeland security, which cover important areas such as cooperation in preventing organised crime, human trafficking, cyber crimes, money laundering, counter-terrorism and fight against spread of fake currency notes.

5. Odisha government has finalised three locations Gothapatna, Argul and Jatni in the vicinity of capital city Bhubaneswar for establishment of proposed Indian Institute of Management (IIM) in Odisha . It will soon send a formal proposal to the Centre to choose one place out of the three.

CURRENT AFFAIRS 7th Nov., 2014

1. Organisation for Economic Cooperation and Development (OECD) has projected a growth of 5.4 per cent for the Indian economy this year as global recovery continues at a moderate pace. Earlier, it had projected 5.7 per cent growth rate for India. Among the major advanced economies, recovery remains robust in the US, which is projected to grow by 2.2 per cent in 2014 and around 3 per cent in 2015 and 2016.

2. Power ministry has proposed to pool the existing limited supply of domestic gas with imported regasified liquefied petroleum gas to help operationalise stranded gas-based power plants with a cumulative capacity of 16,107 Mw. The proposal will lead to an additional generation of 39,000 million units of power valued at Rs 25,000 crore annually.

3. India will take up key environment and clean energy concerns at the G20 summit in Brisbane from November 14 to 16. It would seek energy efficiency laws as well as changing the energy mix to push for renewable energies. It is expected that PM would make a pitch for bringing down worldwide cost of remittances to India.

4. Sri Lanka has supported setting up of a Saarc Development Bank for meeting infrastructure funding needs of countries in the region at low cost. India had earlier set up a committee to examine the proposal for the bank.

5. Prime Minister Narendra Modi adopted Jayapur village in Varanasi under Saansad Adarsh Gram Yojana (SAGY). Varanasi is the Lok Sabha constituency of PM Narendra Modi. Under the SAGY project, each MP is supposed to adopt a village and develop it as a model village.