Polo, Indias only gorilla, breaths his lastMay 2, 2014Polo (43), Indias only gorilla, listed as one of the world s critically endangered species, passed away at the Mysore Zoo (Sri Chamarajendra Zoological Gardens), Karnataka. The male Western Lowland Gorilla, which was gifted to Mysore zoo by Dublin zoo about 19 years ago, had been ill since over a month.India conducts successful test of first indigenous air-to-air Beyond Visual Range (BVR) Astra missileMay 5, 2014India tested its first indigenous air-to-air Beyond Visual Range (BVR) Astra missile from a Sukhoi-30MKI fighter jet, marking an important achievement in the development of complex BVR weapons. Astra will initially provide a 44-km range with high single-shot kill probability, while its Mark-II version will be able to hit hostile aircraft over 100 km away.Astra v/s Brahmos Cruise Missile:India is also likely to initiate testing the 290-km supersonic BrahMos cruise missile from the heavy-duty Sukhoi-30MKIs by the end of 2014. So, while Astra is being developed to smash enemy aircrafts, BrahMos will give incisive land-strike capability against hostile targets.Importance:Currently, IAF jets are armed with very costly Russian, French and Israeli missiles. These indigenously developed Astra Missiles are comparatively very cheaper. Only a few countries like the US, Russia, France and Israel have managed to develop BVR missiles till now. It is therefore important due to economic and strategic reasons for India to have an indigenous air-to-air BVR missile like Astra. Astra missile: Developer: DRDO Range: Short range-20 km and Long range-80 km Type: Beyond Visual Range (BVR) Air-to-Air, all-weather Special features: Target lock-on capabilities both before and after launch; Advanced ECCM (Electronic Counter-Counter Measures); Active radar terminal guidance; Smokeless propulsion; Process improved effectiveness in multi-target scenariosForeign Portfolio Investors can invest up to $81 billion in debt securitiesMay 5, 2014As per Indias stock market regulator Securities and Exchange Board of India (SEBI), Foreign Portfolio Investors (FPIs), a newly created class for overseas investors, will be able to invest up to $81 billion (close to Rs 4 lakh crore) in government and corporate debt securities in India.This would include investments up to $30 billion in government debt and up to $51 billion in corporate debt securities under the new FPI regime, which would come into force from June 2014. FPIs would also be allowed to invest in unlisted non-convertible debentures or bonds issued by corporates in the infrastructure sector. Furthermore, FPI can invest in privately placed bonds if it is listed within 15 days.Under the new FPI regime: Investment limit of $30 billion for government securities would include up to $10 billion by Category-I FPIs All categories of FPIs will be allowed an investment of up to $20 billion in government debt securities. For corporate debt securities, the overall cap will be $51 billion, which would include $2 billion in commercial papers. FPIs allowed to invest in dated government securities, commercial papers, rupee denominated credit enhanced bonds, security receipts issued by asset reconstruction companies, listed and unlisted non-convertible debentures (NCDs) or bonds issued by an infrastructure firm and NCDs issued by Non-Banking Financial Companies (NBFC). FPIs barred from buying short-term government securities the Treasury Bills. The existing investments in T-Bills by FIIs and other overseas investors converting into FPIs will be allowed to taper off on maturity or sale. FPIs have been classified into following 3 categories as per their risk profile:-Category I: Lowest risk entities comprising foreign government and government-related foreign investors. Examples are sovereign wealth funds, multilateral agencies, endowment funds, insurance funds, pension funds and foreign central banks.Category II Regulated entities, broad-based funds whose investment managers are regulated, university funds, university-related endowments and pension funds etc.Category III All other FPIs would come under this category.Existing overseas investors such as FIIs, sub-accounts and QFIs will have to convert to the new regime eventually. Bacillus pumilus SAFR-032 Bacteria from Earth may contaminate Mars; confuse researchers in future about origin of life on Mars: NASAMay 5, 2014NASA has expressed concerns about possible contamination of the Martian surface due colonization of micro-organisms riding with the space-crafts sent from Earth. These bacteria could contaminate celestial bodies such as Mars, making it difficult for researchers to ascertain if a life form actually originated on the site.Currently, spacecraft landing on Mars or other planets where life might exist must meet requirements for a maximum allowable level of microbial life, or bioburden. Recent study has shown that some microbes are tougher than expected and may use various protective mechanisms to survive interplanetary flights.For example, spores of Bacillus pumilus SAFR-032 have shown particularly high resistance to techniques such Ultra-Violet (UV) radiation and peroxide treatment used to clean spacecraft. These spores were exposed for 18 months on the European Technology Exposure Facility (EuTEF), a test facility mounted outside the ISS. Surprisingly, some of the spores pulled through for 18 months.Ahmed Maiteeq- Libyas youngest and fifth Prime Minister since dictator Kadhafi was toppled and killed in 2011 uprisingMay 5, 2014Businessman Ahmed Maiteeq (42) of Libyas National Conference has been elected as the new Prime Minister. Maiteeq defeated his rival Omar al-Hassi, a university professor. It comes three weeks after former PM Abdullah al-Thinni resigned from the post.Libya has been grappling with instability since armed groups threw out Muammar Gaddafis regime in 2011. Maiteeq will have to tackle the lawlessness and insecurity currently destabilizing the country. He is the fifth Prime Minister to be appointed to lead the country in the past two and a half years. Gary Becker, economist and winner of Nobel Prize passed awayMay 6, 2014Gary Becker (83), a professor in University of Chicago who was conferred the Nobel Prize in economic sciences in 1992, passed away. He is credited for his path-breaking approach to economics as the study of human behavior. Becker applied his economic analysis to a wide array of human behavior and interactions. He also studied issues such as marriage and divorce, crime and punishment, addiction and household decisions.Before 1950s, most experts considered habit and often emotion or irrationality as the main factors in human behavior such as having children or committing crimes. It was Becker who theorized that human behavior follows the same rational principles, whether it involves a household, a business or an organization. Although initially his views were received skeptically, his work influenced sociology, demography and criminology.Sarvada Vijay: Indian Armys desert exercise conducted to tests its fighting skillsMay 6, 2014Indian Army conducted Sarvada Vijay combat drill in West Rajasthan as part of regular training aimed at honing war-fighting skills in temperatures as high as 45 degree Celsius. Composite infantry and mechanized forces practised swift manoeuvres as part of the air land battle.Networked radars, Unmanned Aerial Vehicles and aerial surveillance platforms ensured continuous flow of information resulting in battlefield transparency which enabled Commanders to assess and suitably modify their operational plans to meet the emerging challenges. Mobile communication systems integrated with terrestrial network provided efficient communication during manoeuvres.NASA to grow plants on International Space Station (ISS)May 6, 2014The US space agency NASA plans to grow plants on the International Space Station (ISS) by the end of year 2014. Astronauts on board will be able to grow plants with the help of the Veggie plant pillows taken to the ISS during a recent supply mission. This will be the first time NASA astronauts will taste something grown in orbit.Until now, all supplies to the ISS have been transported from Earth. Veggie which is a deployable vegetable production system is a pop-up greenhouse that can be packaged to the size of a briefcase during launch. The main obstruction to growing plants in space is the absence of gravity, since the soil tends to float away. The solution has been to design the equivalent of something like a grow bag which NASA describes as plant pillows. Two of the three plant pillows sent to ISS contain seeds for a variety of red romaine lettuce called Outredgeous, the third has the flowering plant zinnia.Existence of 117th element Ununseptium (Uus) confirmedMay 5, 2014The existence of element 117- Ununseptium (Uus) has been confirmed by the scientists at the GSI accelerator laboratory in Germany, including those from India, who have created atoms of the element. This confirmation succeeds the original discovery, made in 2010 by a joint USRussian team. The atoms were similar to the heaviest atoms ever observed, 40% heavier than an atom of lead. The discovery marks a significant advancement towards the capability to observe still more long-lived super-heavy nuclei, as expected to exist on the Island of Stability of super-heavy elements.Ununseptium(Uus) Chemical Symbol: Uus Atomic number: 117 CAS ID: 87658-56-8 Chemical series: Period 7 element, HalogenSuper-heavy elements: Elements with atomic number greater than 104 are referred to as Super-Heavy Elements. Although super-heavy elements have not been found in nature, they can be created by accelerating beams of nuclei and shooting them at the heaviest possible target nuclei. Fusion of two nuclei a very uncommon event at times produces a super-heavy element. Those currently accessible generally only exist for a short time.Island of Stability: A theoretical concept of Nuclear Physics first propounded by Glenn T. Seaborg in the late 1960s. As per this theory, the island of stability is a set of as-yet undiscovered heavier isotopes of transuranium elements which are supposed to be much more stable than some of those closer in atomic number to uranium. Specifically, they are expected to have radioactive decay half-lives of minutes or days, with some researchers expecting half-lives of millions of years.Utility of this Experiment and discovery: The successful experiments on element 117 are an important step on the path to the production and detection of elements situated on the island of stability of super-heavy elements.Rising NPAs is making public sector banks unfit for private Provident Fund depositsMay 8, 2014Surging Non-Performing Assets (NPAs) have rendered public sector banks such as State of India (SBI), Punjab National Bank (PNB) and Canara Bank unfit to take deposits from non-government Provident Funds (PF). As per the current rules governing investments by PFs, non-government Provident Funds (PF) are barred from being deposited in a commercial bank in case the NPAs of that bank exceed 2% of net advances. The Indian Banks Association (IBA) has requested the Union Finance Ministry to relax the norms pertaining to deposits by non-government provident funds and gratuity funds in scheduled commercial banks.Conditions banks are required to meet for taking PFs deposits: Continuous profitability for immediately preceeding three years Maintain minimum capital adequacy of 9% Have net NPAs of not more than 2% of net advances Maintain minimum net worth of not less than Rs 200 croreGovts nod not required to investigate corruption charges on senior bureaucrats: Supreme CourtMay 8, 2014As per the Supreme Court, the legal provision which makes approval of competent authority mandatory for CBI to investigate a corruption case against an officer of joint secretary-rank or above is invalid and unconstitutional and has the propensity of protecting the corrupt. The judgement was delivered after the court examined Section 6A of the Delhi Special Police Establishment Act (DSPEA), which shields top bureaucrats from being probed in corruption cases without prior approval.Key observations in the judgment by the SC: The requirement of Central Governments approval to probe corruption charges against officer of the rank of joint secretary and above under the Prevention of Corruption Act (PCA), is invalid and violates Article 14 of the Constitution. Equal treatment of corrupt public servants for the purpose of inquiry of offence under the PCA, irrespective of the rank they hold. Prior approval under Section 6A would result, indirectly, in obstructing the probe and if the CBI is not allowed to carry on the preliminary inquiry how the investigation can proceed.The issue of protection from inquiry against senior bureaucrats had come under the scanner of the SC 17 years ago when the Centres argument was scrapped that being policy makers, they required protection from frivolous complaints. The first petition in filed in 1997 had contested that execution of criminal law gets affected due to the presence of Section 6A in the statute.Excavation suspended at Keralas Padmanabhaswamy TempleMay 6, 2014Excavation activities which were being conducted by the Kerala Archeology Department to study the underground granite pavements, paths and artifacts at the Vadakke Nada (north entrance) of the treasure rich Padmanabhaswamy Temple at Thiruvananthapuram have been suspended by the five-member temple management committee.The panel, constituted as per instructions of the Supreme Court, put the excavations on halt because of security reasons.The temple grabbed worldwide attention when gold, precious stones, historical coins and other articles which are worth over Rs 120,000 crore were found stored in the six secret vaults (Kallaras) inside the temple on July-August, 2011. In this context the security cover of the temple was beefed up.Recently, on the basis of a report of Gopal Subramaniam, amicus curiae appointed to look into the affairs of the temple, the apex court had ordered dissolving of the traditional temple management committee controlled by a representative of the former royalty of Travancore, the erstwhile custodians of the shrine and everything in it.The apex court had advised the setting up of a new five-member temporary management panel headed by the district judge. The amicus curiae had found discrepancies in temple management. He also suspected pilferage of invaluable articles stored in the temple vaults.Finance Ministry: Withdrawal of fiscal stimulus programme in US will not affect much the foreign investments into IndiaMay 6, 2014The Finance Ministry has tried to lessen fears that the withdrawal of fiscal stimulus programme in the US will affect foreign investments into India. A report by the Finance Ministry alleviates the fears saying India is an attractive destination with its liberal FDI policy, a globally competitive workforce, a rapid GDP growth rate and rapidly growing market and has remained the third most preferred nation for FDI since 2010.The US has already begun tapering of its Quantitative Easing (QE) or fiscal stimulus programme. In 2013, capital markets and currencies across the world, including India, witnessed knee-jerk reactions at the news of QE reduction by the US Federal Reserve. The US Fed had been purchasing bonds worth $80 billion a month to stimulate its economy after the 2009 global financial crisis. It has now started trimming the amount in a phased manner prompting concerns that the step will slash investments into countries like India.FDI into India, estimated as the sum total of equity inflows, reinvested earnings and other capital, was $46.55 billion in 2011-12 and $34.29 billion in the following fiscal. In 2013-14, the inflows stood at $28.8 billion for the period of April-January.El Nino effect may shrink Indias GDP by 1.75%: AssochamMay 10, 2014As per a report by the Associated Chambers of Commerce and Industry of India (ASSOCHAM), the 5% deficiency in rains due to possible El Nino factor in this monsoon could impact Indias Gross Domestic Product (GDP) by 1.75% in the 2014-15 fiscal, affecting lakhs of unskilled jobs. Rain deficit could also impact food inflation, which has always been a concern to policy makers. The loss to the GDP of about 1.75 % would be equivalent to around Rs 1,80,000 crore.Indian agriculture in heavily dependent on rains as about 60% of net sown area of the country is rain-fed. With every 1% deficit in rains, the countrys GDP plummets by 0.35%. Therefore, a good agricultural output is a must for India to increase demand for services and industrial products.India is forecasted to have below normal monsoon in 2014 with Meteorological department predicting 95% rainfall because of the El-Nino effect, which is generally linked with the warming of ocean water.Maintain status quo on INS Vikrant: Supreme CourtMay 8, 2014The Supreme court has ordered maintenance of status quo on Indias first aircraft carrier INS Vikrant, which is on the brink of being converted into scrap. The court has issued notices to Ministry of Defence and other authorities concerned on the petition. The petition challenges the Bombay High Court decision which quashed the plea to preserve INS Vikrant by converting it into a maritime museum. The Indian Navy in March 2014 had auctioned INS Vikrant to the highest bidder, a Mumbai-based Ship breaking company IB Commercial for Rs 63 crore, much above its reserve bid of Rs 3 crore. As per the deal, the ship will be dismantled part-by-part and will be sold as lucrative scrap.Click Here for related NEWS on INS VikrantRBI allows minors over 10 years to operate bank accountsMay 8, 2014As per the guidelines issued by the RBI, minors above 10 years of age have been allowed to open and operate independently savings bank account and use other facilities like ATM and cheque books. The central bank has taken this step with a view to promote financial inclusion and bring uniformity in opening of such accounts in banks. Earlier, minors were allowed to open fixed and savings deposit bank account with mothers as guardian.As per the modified guidelines by RBI: All minors can now open a savings/fixed/recurring bank deposit account through either his/her natural guardian or legally appointed guardian. The minors, who have attained 10 years of age, will be permitted to open and operate savings bank accounts independently. The banks can also decide on the minimum documents which are required for opening of accounts by minors. The minor would be required to confirm the balance in his/her account as he attains majority. If the account is operated by the natural/legal guardian, fresh operating instructions and specimen signature of the minor will be obtained and kept on record for all operational purposes.Dont levy penalty if minimum balance is not maintained in bank account: RBI to banksMay 8, 2014The RBI has asked banks not to impose penalties on customers who dont maintain a minimum balance in any dormant account as part of a consumer protection initiative. A number of banks, including the State Bank of India, do not levy any penalty if the minimum balance is not maintained in an inoperative savings account. In 2012, the RBI directed banks not to charge customers for non-operation or activation of basic savings bank deposit accounts.Do not charge penalty on pre-payment of floating loans: RBI to BanksMay 10, 2014The RBI gave relief to borrowers as it directed banks not to levy any penalty on individual borrowers for pre-payment of floating loans. The central bank has barred banks from imposing foreclosure charges or pre-payment penalties on all floating rate term loans sanctioned to individual borrowers, with immediate effect.Floating loan products include housing, corporate, vehicle and personal loans. Some banks are charging pre-payment penalty of up to 2% of the outstanding loans.In 2012, RBI had disallowed banks from charging foreclosure charges or pre-payment penalties on home loans on floating interest rate basis. It is assumed that elimination of foreclosure charges or prepayment penalty on home loans will bring down the discrimination between existing and new borrowers and the competition among banks will result in better pricing of home loans with the floating rate.Indian Navy operationally deploys INS VikramadityaMay 10, 2014As per the announcement made by Chief of the Naval Staff Admiral Robin Kumar Dhowan, the newly inducted aircraft carrier, INS Vikramaditya, is now operationally deployed and its integral MiG-29K fighters have been fully integrated with the carrier. The 44,500-tonne aircraft carrier bought from Russia at a cost of $2.33 billion had arrived in India in January, 2014 and is positioned at Karwar in Karnataka.Also, INS Vikrant, the first indigeneously built aircraft carrier being built at the Cochin shipyard, will be ready for trials in 2017 and for delivery by 2018-end.Click Here for more on INS VikramadityaThailand court sacks PM Yingluck ShinawatraMay 10, 2014The Prime Minister of Thailand, Yingluck Shinawatra and several cabinet ministers have been ordered to resign by the Constitutional Court of the country. The court ordered that Ms Yingluck acted illegally when she transferred her national security chief Thawil Pliensri to another position in 2011. The order has come after months of political impasse. Anti-government protesters have been trying to topple Ms Yingluck regime since November 2013. The remaining cabinet members have nominated the commerce minister to replace Ms Yingluck. Ms Yingluck had been accused of abuse of power in improperly transferring Thawil Pliensri, her national security chief appointed by the opposition-led administration, in 2011.Political situation in Thailand:Thailand has been undergoing a power struggle since Ms Yinglucks brother, Thaksin Shinawatra who was PM was thrown out in 2006 by a military coup. Mr Thaksin and his family are detested by some urban and middle-class elites who accuse them of corruption and abuse of power. But Mr Thaksins policies hugely popular in rural areas won both the elections since the coup have returned Thaksin-allied governments to power. Court rulings have, in the past, been a key factor amid political turmoil in Thailand.SC upholds constitutional validity of Right to Education ActMay 10, 2014The constitutional validity of Right to Education Act (RTE Act) has been upheld by the Supreme Court. RTE Act mandates that 25% seats in all schools be reserved for the economically disadvantaged children.As per the Supreme Court decision: The 93rd Amendment Act, 2005, inserting clause (5) in Article 15 enables the State to make special provisions for members of the SCs, STs and socially and educationally backward classes, for admission to all educational institutions, including private unaided institutions, but except minority institutions, did not violate basic structure of the Constitution. The RTE Act will not be applicable to minority schools, whether aided or unaided. The minority aided educational institutions could not be compelled to provide free and compulsory education to children belonging to weaker sections. Articles 15(5) and 21-A of the Constitution in so far as it relates to unaided educational institutions to provide compulsory education for children in the age group of 6 to 14 years are constitutional. The 93rd Constitutional Amendment Act, 2005, is in line with the socialistic aspirations mentioned in the Preamble and the directive principles of the Constitution and to ensure the progress of the weaker sections in the democratic state, aiming at the egalitarian ethos.Provisions of the Right of Children to Free and Compulsory Education Act, 2009, and the Right of Children to Free and Compulsory Education Rules, 2010, are valid.Supreme Court allows Tamil Nadu to raise Mullaperiyar heightMay 10, 2014The Supreme Court has given permission to Tamil Nadu to raise the height of a 116-year-old Mullaperiyar Dam from 136 feet to 142 feet quashing the objections raised by Kerala which opposed the move citing safety concerns of the dam and nearby areas.The decision marks second consecutive defeat for Kerala as on February 27, 2006 the court permitted Tamil Nadu to raise the dam height and carry out necessary repairs setting aside Keralas objections on safety. A month after the judgment, Kerala passed a law Kerala Irrigation and Water Conservation (Amendment) Act 2006 fixing the full reservoir level of dam at 136 feet.Tamil Nadu challenged the constitutional validity of this law that has now been declared null and void by the apex court. The court was fully satisfied that the dam was safe after an Expert Committee submitted its report assuring safety of dam from all aspects hydrological, structural and seismic safety. Besides, it observed no change in circumstances since its earlier order of 2006. However, the courts judgment would facilitate TN to divert more water for its agricultural purposes.Supreme Court bans use of bulls in sportsMay 10, 2014The Supreme Court put a ban on the use of bulls and bullocks in sports. These animals have been used in sports like Jallikattu (traditional bull fight of Tamil Nadu) and bullock-cart race (Maharashtra) for centuries. The court banned use of bullocks and bulls in these events on the ground that it amounted to cruelty against animals. Key observations of the Supreme Court: Bulls cannot be used as performing animals, either for the Jallikattu events or bullock-cart races in the States of Tamil Nadu, Maharashtra or elsewhere in the country. The Animal Welfare Board is permitted to take disciplinary action against defaulters. Parliament recommended raising rights of animals to that of constitutional rights to ensure observance of Prevention of Cruelty to Animals (PCA) Act 1960. As per PCA Act Section 3 and Section 11(1)(m), it is an offence against a person who incites any animal to fight with a view to provide entertainment.DGCA grants Flying License to AirAsia IndiaMay 10, 2014Indias aviation regulator DGCA granted flying license or Air Operators Permit (AOP) to the new airline AirAsia India. AirAsia India plans to have a 10-aircraft fleet within a year of start of its operations and these planes would be drawn from A-320 family of aircraft ordered by the AirAsia Group. The air carrier would initially concentrate on connecting non-metro towns and imitate its low-cost, no-frills model that has seen substantial success in Southeast Asia.The $30 million venture was the first airline to be launched after the FDI norms in aviation were relaxed in September 2012. While AirAsia owns 49% stake in the Indian carrier, Tata Sons has 30% and Telstra Tradeplace holds the rest.Related News from Past on Air Asia: AirAsia India received NOC from aviation ministry FIPB nod to Tata-SIA airlines S. Ramadorai is the Chairman of AirAsia India Tata and Singapore Airlines ink MoU to set up a new full-service airline AirAsia and Tata Group join hands for an economical airline Finance Ministry clears AirAsia-Tata proposal AirAsia seeks Indian govts nod to join hands with Tata Group to enter countrys aviationDGCA directs airlines to track flights in real timeMay 10, 2014The Directorate General of Civil Aviation (DGCA), in its directives, has made it mandatory for airlines and private operators to track their aircrafts flight on real-time basis and ensure that necessary devices are functional before take-off.As per the instructions issue by the DGCA: Indian scheduled and non-scheduled operators are required to track aircraft in real time using onboard Aircraft Communications Addressing and Reporting System (ACARS) or Automatic Dependent Surveillance Broadcast (ADS-B). Airlines and private operators have to ensure that all essential devices are functional before take-off. The instructions apply to both passenger and cargo planes. DGCA will review implementation of the directives during surveillance inspections.Backdrop:The directives have been issued close on the heels of vanishing of Malaysian Airlines flight MH370, which has been missing for two months now. MH370 which took-off from Kuala Lumpur for Beijing disappeared on March 8, 2014.Indian economy showing signs of improvementMay 11, 2014Indian economy appears to be improving as the sectors which were significantly affected by the crisis and slowdown are now showing visible signs of improvement.Some key observations: Order from the apex court on relaxation in mining ban in Goa and Karnataka will be helpful in resurrecting sentiments in mining sector. Telecom sector, after incurring losses in the years 2011 and 2012, seems to gain in future as telecom companies have managed to enhance their Average Revenue Per User (ARPUs) significantly. Infrastructure sector is also showing some positive signs with a major road project approved in Maharashtra.Biologists discover 14 new Dancing Frog species in Western GhatsMay 11, 2014Indian scientists have found 14 new species of Dancing Frogs in the Western Ghats. The tiny agile amphibians earned their name for the unusual kicks they use to attract mates.The kicking or foot-flagging is a breeding behavior shown only by the males. They stretch, extend and whip their legs out to the side to draw the attention of females who might have difficulty hearing mating croaks over the sound of water flowing through perennial hill streams. Compared with other frogs, these frogs are so sensitive to this habitat that any change might be ravaging for them.54 Indian companies among Forbes Global 2000May 11, 2014In the latest released Forbes Global 2000 list, Mukesh Ambani-led Reliance Industries leads the set of 54 Indian companies in the annual list of the worlds 2000 largest and most powerful public companies. The top three positions of the list is occupied by the Chinese companies.The Forbes Global 2000 is a comprehensive list of the worlds largest, most powerful public companies, as measured by revenues, profits, assets and market value.Some notable points from Forbes Global 2000: Worlds top three biggest public companies and five of the top 10 are from China. 564 companies enlisted are from the US which marks its dominance as the country with the most Global 2000 companies. Japan follows the US with 225 companies in total. India is home to 54 of the worlds biggest companies. Reliance Industries, with a market value of $ 50.9 billion and $ 72.8 billion in sales, ranked 135. State Bank of India ranked 155 with a $ 23.6 billion market value.Some other Indian companies making it to the list are: Oil and Natural Gas ranked 176, ICICI Bank (304), Tata Motors (332), Indian Oil (416), HDFC Bank (422), Coal India (428), Larsen & Toubro (500), Tata Consultancy Services (543), Bharti Airtel (625), Axis Bank (630), Infosys (727), Bank of Baroda (801), Mahindra & Mahindra (803), ITC (830), Wipro (849), Bharat Heavy Electricals (873), GAIL India (955), Tata Steel (983), Power Grid of India (1011), Bharat Petroleum (1045), HCL Technologies (1153), Hindustan Petroleum (1211), Adani Enterprises (1233), Kotak Mahindra Bank (1255), Sun Pharma Industries (1294), Steel Authority of India (1329), Bajaj Auto (1499), Hero Motocorp (1912), Jindal Steel & Power (1955), Grasim Industries (1981) and JSW Steel (1990).RuPay, Indias indigenous card payment network launchedMay 11, 2014Rupay, Indias own payment gateway was launched to compete with networks such as Visa and Mastercard. The indigenous network will work on ATMs and merchant outlets and help in bringing down cash transactions.The RuPay is a blend of two terms Rupee and Payment. It has been developed by the National Payments Corporation of India (NPCI) and is being used by certain banks such as ICICI, State Bank of India, Punjab National Bank, among others, for clearing and settlement. The RuPay, which works on three channels ATMs, Point of Sales (PoS) and online sales, is the seventh such payment gateway in the world. A variant of the pre-paid RuPay card would be launched by IRCTC soon, which will help in booking railway tickets.Benefits of RuPay platform: Reduce the transaction cost Support creation of more domestic products Reach the unbanked sections Reducing number of cash transactions Availability at a cost much less than those of international cards RBI restricts companies from refinancing of rupee loans via External Commercial Borrowings (ECB) route May 12, 2014 RBI has barred Indian companies from raising money from subsidiaries of Indian banks overseas via the External Commercial Borrowings (ECBs) to refinance their rupee loans. Thus, Indian companies will not be allowed to raise ECB from overseas branches or subsidiaries of Indian banks for the purpose of refinance/repayment of the rupee loans raised from the domestic banking system. In April 2014, the RBI also restrained the banks from issuing guarantees to offshore joint ventures and subsidiaries of Indian companies to avail foreign currency loans to repay rupee credit. Earlier, Indian companies in manufacturing, infrastructure and hotel industries were permitted to raise a maximum of $10 billion from this route. The maximum permissible ECB that could be availed of by an individual company was 75% of the average annual export earnings realized during the past 3 financial years. Typically, an Indian companys overseas subsidiary approaches an Indian bank for a guarantee or letter of credit to use it for availing loans from another bank there. Banks were permitted to issue non-fund based credit to overseas subsidiaries of Indian companies up to 20% of unimpaired capital of the bank. The step by RBI has come close on the heels of warning the banks against issuing letter of credit and guarantees to Indian companies overseas subsidiaries. It said that such non-fund based credit was being used for purposes other than the business the company is involved. The restrictions are applicable in cases like take-out financing, infrastructure financing and spectrum allocation and other repayments. The direction were issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999). The ECB loans are much cheaper than the domestic loans and therefore companies use the arbitrage available to their benefit. CANWFZ Treaty signed to recognize Central Asia as Nuke-Free Zone May 12, 2014 Five recognized nuclear weapon states- China, France, Russia, UK and USA inked the Protocol to the Central Asian Nuclear-Weapon-Free-Zone (CANWFZ) Treaty in New York, marking a major positive development in the global non-proliferation efforts. The treaty was signed on the sidelines of the Nuclear Non-Proliferation Treaty (NPT) Preparatory Committee Meeting at the United Nations. CANWFZ Treaty The CANWFZ Treaty was inked on September 8, 2006 in Semipalatinsk by the five Central Asian nations Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan. It came into force on March 21, 2009. As chair of the CANWFZ Treaty, Kazakhstan has steered the negotiations with the five nuclear states on behalf of its Central Asian neighbors. Central-Asian parties to the CANWFZ treaty aim to make the region a nuclear-weapon free zone. For the zone to be recognized internationally, it also requires to get the so-called negative guarantees from the five nuclear weapon countries, meaning legally-binding assurances not to use nuclear weapons against the parties of the treaty and not to use the threat of the use of nuclear weapons against them. The Protocol signed on May 6, 2014 in New York provides all these guarantees. The Protocol awaits ratification by the parliaments of the signing states enter into effect. The CANWFZ Treaty complements the NPT and strengthens the international nonproliferation regime by forbidding, among other things, the development and testing of nuclear weapons within Central Asia. Under the CANWFZ Treaty, the five Central Asian zone states may not allow the stationing of nuclear weapons within their territories. The Central Asian states are also mandated to adopt the International Atomic Energy Agency (IAEA) Additional Protocol, which provides the IAEA with increased access and power to ensure that all nuclear activities are used only for peaceful purposes. Other Nuclear-Weapons Free Zones in the World Apart from the newly created Central-Asian zone, there are four other nuclear weapons free zones in the world, including in Africa, Latin America and the Caribbean, South-East Asia and the South Pacific. The Central Asian zone is different from the other four in a way that it is the only such zone fully located in the northern hemisphere, the only zone adjoining two nuclear weapon states, Russia and China, and the only zone where nuclear weapons once existed, until Kazakhstan relinquished the weapons it inherited from the Soviet Union in the early 1990s. Google loses copyright case over Android to Oracle May 11, 2014 Oracle Corp won a suit against Google Inc. as an appeals court in the US gave Oracle permission to copyright parts of the Java programming language, which Google used to develop its Android smartphone operating system. Googles Android operating system is the worlds largest-selling smartphone platform. Oracle filed a lawsuit against Google in 2010, claiming that Google had improperly used parts of Java into Android. Oracle seeks around $1 billion as its copyright claims. Rise quickly to counter China: Vietnam to India May 11, 2014 Vietnam wants India to rise quickly in the South-East region as it expressed concerns over Chinas rising assertiveness in the South China Sea. Vietnam Ambassador Dang Dinh Quy voiced his concerns at a round table meeting of Diplomatic Academy of Vietnam (DAV), and said that Chinese navy was acting without provocation and that Chinese topmost leadership is behind in these decisions. The meeting was held for the delegates to share information with Australian scholars around regional security matters such as US-China relations, maritime issues in the Indo pacific region and to talk about more extensively Australias engagement with Asia.Exit polls and Post-Poll Survey: Are both same?May 14, 2014Although both the two terms Exit polls and Post-Poll Survey are used in the same context i.e. prediction of elections, there is a technical difference between the two. Exit polls are done outside the polling stations immediately after voters exit the polling booths/station. A Post-Poll Survey, on the other hand, is conducted a day or two after the voting, preferably at the homes of the voters.In terms of accuracy, a post-poll survey helps gauge the results better as they are held in the confines of somebodys home. Unlike exit polls where voters are caught immediately after they come out from the booths, post-poll survey are based on relatively leisurely and detailed interactions.Most agencies have switched to post-poll surveys to gain from the process, given that polls are mostly held in phases. Exit polls are conducted only when there are single-phase elections. Agencies, nowadays, utilize a mix of post-poll survey and exit polls on the last day of elections to generate immediate results.China expresses concern over Indias role in South China Sea issueMay 14, 2014China seems a little disturbed with India voicing its concern over the tensions in the South China Sea. Chinese Foreign Ministry said India need not worry too much about the issue.The remarks from China came in response to India voicing its concern over the recent developments in the South China Sea where Chinese and Vietnamese ships had a tense standoff. These tensions have intensified with Chinas oil rigs attempts for oil exploration in the waters of disputed islands claimed by both countries.China was critical of reactions by the US and Japan over the region last week. China objected to Indias ONGC participating in the drilling in the area specified by Vietnam which Beijing called disputed. Both Vietnam and the Philippines together with Malaysia and Brunei have serious disputes with China in the South China Sea and have been exhorting ASEAN to take a firm stand against Beijing on the issue. China also objected to the Philippines arresting 11 Chinese fishermen in the disputed waters.Recent development over South China Sea: Vietnam wants India to rise quickly in the South-East region as it expressed concerns over Chinas rising assertiveness in the South China Sea. The comments came a few days after Chinese and Vietnamese ships had a tense stand-off. Link: Rise quickly to counter China: Vietnam to India A significant defense deal inked between the Philippines and the US which will allow a bigger US military presence on Filipino territory. The pact would give U.S. forces temporary access to selected military camps and allow them to pre-position fighter jets and ships. It allows more US troops into the Philippines for joint military training exercises. Link: Significant defence deal inked between Philippines and US US-Japan joint statement highlights importance of trilateral dialogue with IndiaIndian Railways releases: India Junction A Window to The NationMay 13, 2014Indian Railway released a book, titled India Junction A Window to the Nation. The book has been brought out by Public Relations Directorate, Railway Board. The book has been edited by Ms Seema Sharma.About the Book:India Junction A Window to the Nation is a book which tells the story of the long an eventful journey of Indian Railways starting from 1853 to the present day through in-depth, analytical essays that are rich in history; scrumptious travel pieces; and some truly amazing and rare photo featurescelebrates the changes the Railways has brought about in our lives; and examines how the Railways itself has transformed over time.The Indian Railways provides us with a practical, convenient mode of transport, but its contribution to Indian life goes much beyond that. The Railways is the lifeline of the nation and, in many ways, its development has been deeply intertwined with the destiny of India. India Junctionfeaturing in-depth, analytical essays that are rich in history; delectable travel pieces; and some truly amazing and rare photo featurescelebrates the changes the Railways has brought about in our lives; and examines how the Railways itself has transformed over time.Some quotes in INDIA JUNCTION: Without the railways, the three great cities of Calcutta, Bombay and Madras would have remained small colonial trading ports. Sir Mark Tully Railways was the greatest force of modernization and unity that India had ever seen. Sandipan Deb The development of the railways has been deeply intertwined with the destiny of the Indian subcontinent. Sharmila Kantha In Mumbai locals, there is even a new subgroup of intimacy: the train friend. Jerry Pinto No Railways, no India.Ian J. KerrScientists succeed in replicating semi-synthetic DNA containing unnatural basesMay 13, 2014Researchers at The Scripps Research Institute (TSRI) have succeeded in replicating deoxyribonucleic acid (DNA) which contained artificially inserted synthetic pair of DNA letters, or bases, not found in nature. It was done through an engineered E. coli bacterium which replicated the unnatural semi-synthetic DNA. Replication is the process whereby DNA makes a copy of itself before cell division.Scientists have been working for long to identify bases other than organic that could serve as new, functional DNA bases and could code for proteins and organisms that have never existed before. Generally, organisms on earth have natural nucleoside base-pairs adenine-thymine and cytosine-guanine which forms their DNA.This experiment was lead by TSRI Associate Professor Floyd E. Romesberg. In 2008, his lab had identified sets of nucleoside molecules that can hook up across a double-strand of DNA practically as comfortably as organic base pairs (A, T, C, G) and showed that DNA containing these unnatural base pairs can replicate in the presence of the correct enzymes. In the following year, the researchers had been able to locate enzymes that transcribe this semi-synthetic DNA into RNA. But all this was carried out in vitro (in test tube) and this time they wanted to see them working in the significantly extra complicated atmosphere of a living cell.Latest Experiment:This time scientists engineered a stretch of circular DNA known as a plasmid and inserted it into cells of the typical bacterium E. coli. The plasmid DNA contained all-natural T-A and C-G base pairs along with the unnatural base pair Romesbergs lab had discovered, two molecules identified as d5SICS and dNaM. The objective was to get the E. coli cells to replicate this semi-synthetic DNA as typically as possible.Why it is not easy to get a DNA with synthetic base pair/pairs replicated in a living cell?There are a number of obstacles in making a living cell replicate a semi-synthetic DNA. Any functional new pair of DNA bases would have to bind with an affinity comparable to that of the natural nucleoside base-pairs adenine-thymine and cytosine-guanine. Such new bases also would have to line up stably alongside the natural bases in a zipper-like stretch of DNA. They would be required to unzip and re-zip smoothly when worked on by natural polymerase enzymes during DNA replication and transcription into RNA. And somehow these nucleoside interlopers would have to avoid being attacked and removed by natural DNA-repair mechanisms.In this experiment, as d5SICS and dNaM are not naturally in cells, the building blocks for their replication had to be provided artificially, by adding them to the fluid resolution outside the cell. To get the creating blocks, recognized as nucleoside triphosphates, into the cells, scientists had to find unique triphosphate transporter molecules.Challenges tackled:In a significant breakthrough, scientists found a triphosphate transporter, created by a species of microalgae, that was efficient at importing the unnatural triphosphates. Surprisingly, the semi-synthetic plasmid replicated and did not greatly hamper the development of the E. coli cells, and showed no sign of losing its unnatural base pairs to DNA repair mechanisms.Importantly, this process can be performed in a controlled manner as it was found that when the flow of the unnatural triphosphate transporter or building blocks is stopped, the DNA reverts to normal A, T, G, C base pairs and the d5SICS and dNaM disappear from the genome.Possible Applications:In future this research could be useful in encoding new proteins produced from new, unnatural amino acidswhich would give us higher power than ever to design protein therapeutics and diagnostics and laboratory reagents to have desired functions. Other applications, such as nano-materials, are also possible.Gmails Android version becomes first single app to pass 1 billion installationsMay 15, 2014Googles Android version of Gmail app has become the first individual smartphone app to pass one billion installations on Android devices. The rankings were done by Google Play Store which ranks apps by downloads in different ranges and the Gmail Android app figured into the one to five billion bracket.The figure doesnt take into account updates, so there is no double-counting when an update is provided. And the Google Play services app is disqualified from the counting, as it is required as part of the Google Play Store.Many groups of apps, such as Outfit7s range of Talking Friends apps, have already passed the one billion downloads, but downloaded of an individual app one billion times is unprecedented. In 2012, the Angry Birds collection of games passed one billion downloads.Shrinking ice moving the Earths crust upwards in the Northern Antarctic PeninsulaMay 14, 2014As per scientists, earths mantle under Antarctica is moving rapidly, changing the shape of the land at a rate that can be recorded by GPS. Researchers have explained for the first time why the upward motion of Earths crust in the Northern Antarctic Peninsula is currently occurring so rapidly. At the surface, Antarctica is a motionless and frozen landscape. Yet hundreds of miles down the Earth is moving at a rapid rate.Earlier studies have found that the Earth is rebounding due to the overlying ice sheet shrinking in response to climate change. This movement of the land was understood to be due to an instantaneous, elastic response followed by a very slow uplift over thousands of years. But Global Positioning System (GPS) data has shown that the land in this region is actually rising at a phenomenal rate of 15mm a year much greater than what can be accounted for by the present-day elastic response alone. And scientists have shown for the first time how the mantle below the Earths crust in the Antarctic Peninsula is flowing much faster than expected, probably due to subtle changes in temperature or chemical composition. This shows that the mantle can flow more easily and therefore responds much more rapidly to the reduction of load hundreds of kilometers above it, changing the shape of the land. So as the glaciers slenderize and the load in that localized area decreases, the mantle pushes up the crust.Since 1995, several ice shelves in the Northern Antarctic Peninsula have melted and caused ice-mass unloading, leading to the solid Earth to bounce back. The ice puts downward pressure on the Earth and as this weight reduces the crust bounces back. RBI permits foreign branches of banks to sell derivatives not allowed in IndiaMay 14, 2014Foreign branches and overseas subsidiaries of Indian banks have been allowed by the RBI to sell structured financial and derivative products in established financial centres even if these products are not permitted in India. However, these products like Exchange Traded Funds (ETFs) and Bond Derivatives are not allowed in the domestic market.As per earlier norms, banks were not allowed to offer structured financial products through their branches or subsidiaries outside India that are not specifically permitted in the domestic market.This was the outcome of the review of an earlier December 2008 circular that made it mandatory for banks to get prior approval of the RBI by rendering details of the products, including their regulatory treatment prescribed by the host-country regulators.Effectiveness of Medication is Gene-dependent: Research; thats why a particular drug is effective for certain people but not for others.May 14, 2014A new research attempts to answer why a particular drug is effective for certain people but not for others. The research team has found that genes play a significant role. Scientists have generated a database associating 145 genetic regions with more than 400 molecules involved in metabolism in human blood. This compendium of genetic links with metabolism provides many new opportunities to understand the molecular pathways underlying associations with common, complex diseases.Metabolic molecules, known as metabolites, include a wide range of different molecules such as vitamins, lipids, carbohydrates and nucleotides. They constitute parts of, or are the products of, all biological pathways.This new database of associations between genetic regions and metabolite levels provides a powerful tool to identify genes that could be used in drug and diagnostic tests for a wide range of metabolic disorders. It will help in drug discovery for metabolic disorders and also facilitate scientists to understand the biology behind disease.Lt Gen Dalbir Singh Suhag appointed as new Army chiefMay 16, 2014The government appointed Lt Gen Dalbir Singh Suhag as the next Chief of the Indian Army. The Union Cabinet cleared the name of Vice Army Chief Lieutenant General Dalbir Singh Suhag as the successor to Gen Bikram Singh, who will retire on July 3, 2014.Suhag was the most senior officer in the Indian Army after Bikram Singh. He was recommended by the Ministry of Defence for further consideration by the Appointments Committee of Cabinet (ACC).To know about the candidates contesting elections is a fundamental right of citizens under Article 19(1)(a): Supreme CourtMay 16, 2014The apex court held that it is mandatory for the candidates contesting elections to disclose information about assets and liabilities of even their spouse and dependent children failing which they can be disqualified. A person fighting elections is also under legal obligation to reveal information on his or her criminal antecedents and educational qualifications.Article 19(1)(a) of the Constitution makes it a fundamental right of the citizens to know about the candidates contesting the elections and this is the main reason that makes it obligatory to the candidates to furnish details regarding the criminal antecedents, educational qualifications and assets held by the candidate, his spouse and dependent children.As per the court, at the time of filing the nomination paper, if a candidate leaves blank any column seeking information on criminal antecedents, educational qualifications and assets and liabilities, then it would result in disqualification by the returning officer at the scrutiny stage itself. If it is found that it is a case of improper acceptance, misinformation or suppression of material information, rejection in such a case can only be postponed for a later date.Google rankings can influence Elections: StudyMay 16, 2014As per a new study conducted in India during the just concluded Lok Sabha Elections 2014, Google rankings can dramatically swing ill-informed voters leading to influence the election outcome.The study done by Robert Epstein, a former editor of Psychology Today and noted Google critic, found that manipulating the Google search results can significantly influence the candidate preferences of the voters who are not well-informed and are undecided as they tend to sway towards candidates appearing on the top of the search results/ranking.In the experiment it was found that search rankings biased in favour of a candidate could push the preferences of undecided voters towards that candidate by 15% or more. If there are two candidates and both vying to push their rankings higher then thats fine. But if Google, which has a monopoly on search in India, were to favour one candidate, it could easily put that candidate in office by manipulating search rankings, and no one could counter that.These manipulations can pose a serious threat to democracy. To prevent too much influence, election-related search rankings need to be regulated and monitored, as well as subjected to equal-time rules.By 2025, India to replace Japan as third-largest oil consumer: USMay 16, 2014According to the US Energy Information Administration (EIA),India will overtake Japan to become the worlds third largest oil consumer behind the US and China by 2025.As per EIAs Annual Energy Outlook: Indias oil consumption will increase from 3.68 million barrels per day (bpd), or 173.5 million tonnes, in 2012 to 5.19 million bpd in 2025, catching up with Japans 4.38 million bpd consumption. Japan consumed 4.75 million bpd of oil in 2012. At present, India is the fourth largest oil consumer in the world behind the US, China and Japan. Though the US will remain the worlds biggest oil consumer but its demand growth will be almost negligible. With 3% compounded annual growth rate, Indias oil consumption growth rate from 2012 to 2040 will be highest in the world. Its oil consumption will reach 6.11 million bpd in 2030 and 8.33 million bpd in 2040. India meets around 80% of Indias oil requirements through imports. In 2013, India overtook Japan as the worlds third-biggest importer of crude oil. According to International Energy Agency, India will become the worlds largest oil importer by 2020.General Election 2014: Resounding victory for BJP, Congress faces drubbing in 6 statesMay 17, 2014Worlds biggest democratic exercise- Indias 16th Lok Sabha (Lower House) elections which ran from April, 7 to May 12, 2014 are over and its verdict is out. Of the total 543 seats for which elections were contested, BJP led NDA achieved a thumping victory on 336 seats, whereas, Congress led UPA has faced thorough defeat in 6 key states winning just 59 seats, and the Congress, 44 seats. The Aam Aadmi Party (AAP) which contested on 424 seats has faced debacle as it could win just 4 seats. AAP leader and former Chief Minister of Delhi, Arvind Kejrival, who contested against the Narendra Modi from Varanasi, defeated by a huge margin of more than 3 lakh votes.With this NDA victory, BJPs Prime Ministerial candidate Narendra Modi is all set to be the head of the newly elected Indian Government.Some high spots of Lok Sabha polls 2014: It was 16th Lok Sabha election. Election Commission of India conducted election in 9 phases, longest election in the countrys history. 8,251 candidates contested for 543 constituencies in India. 814.5 million People were eligible voters, with an increase of 100 million voters since the last general election in 2009, making this the largest-ever election in the world. Average election turnout was around 66.38%, the highest ever in the history of Indian general elections. With more than six times the seats of its closest contenders, Modis is the most decisive mandate for a leader since the 1984 assassination of Prime Minister Indira Gandhi propelled her son to office. Since 1989, India has been governed by coalitions. With 282 seats, the BJP has won the highest number of seats by a single party in the modern, post-regional politics era, compared with 244 for the Congress in 1991 and 206 for it in 2009. It is the worst ever performance by Congress compared to its show in other previous General Elections. Since 1977, the BJP is the first non-Congress party to defeat Congress by such a huge margin. However, the biggest tally of seats achieved by a non-Congress party is 295 won by the Janata Party in the 1977 post-Emergency election that ousted Mrs. Gandhi from office. BJP registered its biggest win in Uttar Pradesh winning 71 seats despite a big coalition partner, the best performance by a single party in the state since 1984 when the Congress won 83 of 85 seats.Results Lok Sabha Polls 2014:ALLIANCETALLY

NDA (BJP + Allies)335

UPA (Congress + Allies)59

AAP4

SP5

BSP0

AITC34

JD(U)2

LEFT11

ADMK37

OTHERS56

TOTAL543/543

VOTE SHARE:AllianceVote share (%)

NDA35

UPA23

LEFT4

AITC4

OTHERS34

Indias IIP remains negative, declines 0.5% in March 2014May 16, 2014As per the Quick Estimates of Index of Industrial Production (IIP) with base year 2004-05 for the month of March 2014 released by the Central Statistics Office (CSO) of the Ministry of Statistics and Programme Implementation (MoSPI), the industrial production remained negative for the second consecutive month, shrinking 0.5% in March 2014 due to poor performance in manufacturing, especially capital goods. Output as assessed by the IIP remained almost flat in 2013-14 and slumped 0.1% compared with an expansion of 1.1% in 2012-13. The General Index for the month of March 2014 stands at 193.2, which is 0.5% less as compared to the level in March 2013. The cumulative growth for the period April-March 2013-14 over the corresponding period of the previous year is at (-) 0.1%. Compilation Sources for IIP:IIP is compiled using data gathered from 16 source agencies viz. Department of Industrial Policy & Promotion (DIPP); Indian Bureau of Mines; Central Electricity Authority; Joint Plant Committee; Ministry of Petroleum & Natural Gas; Office of Textile Commissioner; Department of Chemicals & Petrochemicals; Directorate of Sugar; Department of Fertilizers; Directorate of Vanaspati, Vegetable Oils & Fats; Tea Board; Office of Jute Commissioner; Office of Coal Controller; Railway Board; Office of Salt Commissioner and Coffee Board.Bharti Airtel raises about $2 billion in Dual Currency Bond saleMay 16, 2014Indias largest telecom company Bharti Airtel raised around $2 billion in a dual currency international bond sale. It is the largest debt issuance by a domestic company till date. Bharti sold dual currency dollar and euro bonds to raise the money which will be used for repayment and refinancing of existing foreign currency debt. It is a first dual currency issuance by an Indian issuer and also largest fund raising exercise at a single time by an Indian issuer.What are Dual Currency Bonds?Dual Currency Bonds pay interest coupons in one currency and principal redemption for a fixed sum in a second currency, often the dollar.A company may prefer issuing a dual currency bond to hedge any foreign exchange flows from its operations, or take a speculative view on currencies in order to get a lower cost of capital. Investors generally get an above-market coupon, but run the risk that, in this example, the dollar could plunge below the exchange rate used when the amount was fixed. Such bonds are enticing to borrowers who operate in the redemption currency because they have no long-term exchange rate risk.Govt should reduce its shareholding in PSBs to below 50%: RBI CommitteeMay 16, 2014An RBI committee headed by former chairman of Axis Bank PJ Nayak has said in its report that the government should bring down its stake in Public Sector Banks (PSBs) to below 50%.Key Suggestions proposed by the RBI Panel:- 1) On existing Governance pattern of PSBs:Criticizing the way in which the 26 PSBs are being currently governed, the panel blamed several externally imposed constraints like dual regulation by the RBI and finance ministry and external vigilance by agencies like the CVC and CAG for the distress of banks.The government should reduce its stake in these banks to less than 50%, along with certain other executive measures for the removal of these constraints.The Centre should distance itself from the governance of banks and the Bank Nationalization Acts of 1970 and 1980, along with the SBI Act and SBI Subsidiary Banks Act, be repealed as it finds the selection process for directors is increasingly compromised.2) On Governments powers in relation to the governance of banksAll banks should be incorporated under the Companies Act and a Bank Investment Company (BIC) be set up to which the government transfers its holdings in banks. BIC should be given power of governance of the banks. Until BIC becomes functional, a Bank Boards Bureau comprising former senior bankers should advise all board appointments, including those of chairmen and executive directors.3) On existing Human Resource Policy in BanksChange in human resource policy to encourage younger people joining top management. Private sector banks should be provided a more level-playing field with the public sector counterparts.4) On governance issues in private sector banksOwnership constraints that could misalign the interests of shareholders with those of top management must be removed. Allowing larger block shareholders generally enhances governance.5) On distressed banksDistressed banks, private equity funds, including sovereign wealth funds, should be allowed to take control of stakes of up to 40%.6) On Evergreening of bad loansBoards of banks need to be vigilant about the quality of the loans. The policy of private sector banks can be considered which incentivises senior management on the basis of bank profitability, and disburses the compensation through stock options. There is potential incentive to evergreen assets in order that provisions do not make a dent in profitability.In the case of evergreening, fines can be slapped through cancellations of unvested stock options and claw-back of monetary bonuses on officers concerned and on whole-time directors, and that the chairman of the audit committee be asked to step down from the board.Andhra Pradesh assembly polls results: TDP wins largest number of seatsMay 17, 2014Telugu Desam Party (TDP) led by N. Chandra Babu Naidu emerged as the largest party with 117 seats out of the total 294 assembly seats of the Andhra Pradesh in the recently concluded Assembly Elections in the state.Results:Political PartySeats Won

TDP117

Yuvajana Sramika Rythu Congress Party70

Telangana Rashtra Samithi (TRS)63

Indian National Congress (INC)21

BJP9

Others14

Arunachal Pradesh assembly polls: INC to form governmentMay 17, 2014The results of the 2014 assembly elections of Arunachal Pradesh are out. The Indian National Congress (INC) led by the incumbent Chief Minister Nabam Tuki won 42 seats of the total 60 assembly seats in the state.BJP with 11 seats is the first runner up whereas Peoples Party of Arunachal finished third with 5 seats.Results: Political PartySeats Won

Bharatiya Janata Party11

Indian National Congress42

Peoples Party of Arunachal5

Independent2

Odisha assembly polls 2014: BJD emerged largest party in the stateMay 17, 2014The results of the 2014 assembly elections of Odisha have been announced. Of the total 147 assembly seats, Biju Janata Dal (BJD) led by incumbent Chief Minister Naveen Patnaik has won 117 seats, making it the single largest party in the state.Odisha assembly polls 2014 results: Political PartySeats Won

BJD117

BJP10

Indian National Congress16

Others4

Sikkim Assembly elections 2014: SDF to retain power for fifth term in a rowMay 17, 2014Sikkim Democratic Front (SDF) led by incumbent Chief Minister Pawan Kumar Chamling has emerged as the single largest party by winning 22 seats out of total 32 in the 2014 assembly elections of Sikkim. The newly established party Sikkim Krantikari Morcha (SKM) led by Prem Singh Tamang won 10 assembly seats and will sit in opposition.

The SDF which came into being in 1993 has been in power in Sikkim since 1994. This will be partys fifth consecutive term in power.SpaceX Dragon capsule leaves space station, heads back to EarthMay 20, 2014US private firm SpaceXs unmanned Dragon capsule undocked from the International Space Station (ISS), to return to Earth. The capsule is carrying more than 1,580 kilograms of science samples and NASAs old equipment.NASA depends on SpaceX and other private companies to replace the Space Shuttles, which were finally retired in July 2011, and had brought supplies and astronauts to and from the space station.SpaceX has signed a $1.6 billion deal with NASA for a total of 12 of supply missions. SpaceX, Boeing and Sierra Nevada have also been engaged by NASA to develop private space ships capable of transporting people to the space station and other destinations in orbit, with a launch expected in 2017. That would end the US reliance on Russias Soyuz capsules to carry US astronauts to and from the space station, at a cost of $70 million per person.Photon-Photon Collider Experiment: Researchers develop technique to turn light into matterMay 20, 2014Scientists in the UK have discovered how to turn light into matter. Until now, it was not practically shown what was theorized by scientists G Breit and John A Wheeler in 1934- the simplest technique of turning light into matter by colliding only two particles of light (photons), to create an electron and a positron. It has never been observed in a lab and past experiments as it necessitates the addition of massive high-energy particles.Scientists from Imperial College London have unraveled the theory. They will perform a Photon-Photon Collider experiment to prove this in practise. The experiment would recreate a process that was significant in the first 100 seconds of the universe, also seen in gamma ray bursts the biggest explosions in the universe and one of physics greatest unsolved puzzles.Two main steps of Photon- Photon Collider experiment:1. Using an extremely powerful high-intensity laser to speed up electrons to just below the speed of light and then shoot these electrons at a slab of gold to create a beam of photons a billion times more energetic than visible light.2. Firing a high-energy laser at the inner surface of a tiny gold can called a hohlraum to create a thermal radiation field, generating light similar to the light emitted by stars.The photon beam from the first stage would be directed through the centre of the can, causing the photons from the two sources to collide and form electrons and positrons. It would then be possible to observe the formation of the electrons and positrons when they exited the can.This discovery would help in understanding how we can create matter directly from light using the technology.Indias Steel Man Former Tisco chief Russi Mody passed awayMay 19, 2014Russi Mody (96), regarded as Indias Steel Man for his role in elevating Tata Steel (then known as Tisco) to its present status of Indias largest steel manufacturing company, passed away.He was born on January 17, 1918, joined Tisco in 1939, and rose through the ranks to become its chairman and managing director in 1984. The man who was with Tata Steel for nearly four decades was credited with laying the foundation for what Tata Steel is today.Mody was removed from the top position at Tata Steel in 1993 as the result of differences in opinions with Ratan Tata, who had just assumed charge as chairman of the Tata Group. He was then appointed as the joint chairman of Air India and Indian Airlines by then Prime Minister PV Narasimha Rao.Mody received Padma Bhushan (nations third highest civilian award) in 1989 for his exemplary contribution to the Indian industry.Representation of Muslims in 16th Lok Sabha plunges all-time low at 22May 19, 2014The 16th Lok Sabha will have lowest Muslim representation (Muslim MPs) of all-time at 22. The previous low in the history of Indian Parliament was witnessed in 1957 when there were only 23 Muslim MPs. While Muslims constitute 10.5% of Indias population, its percentage representation in the new Lok Sabha will be 4.2%. In 1957, it was slightly high at 4.6%. The highest representation was in 1980 when 49 Muslims were elected as MPs.West Bengal sends the largest number of Muslim MPs with 4 from Trinamool Congress and 2 each from Congress and CPI. The second highest number is from Bihar with RJD, NCP, Lok Jan Shakti Party and Congress sending 1 MP each. In Assam 2 Muslim MPs, both from All India United Democratic Front, have won. Kashmir has elected 3 Muslim MPs while Kerala elected 3. Tamil Nadu and Andhra Pradesh have elected 1 Muslim MP each while no Muslim MP has been elected from Uttar Pradesh.Swiss electors disapprove worlds highest minimum wage, thwart new fighter jets buying plansMay 21, 2014The voters in Switzerland turned down the proposals to introduce the worlds highest minimum wage and also blocked spending of $3.5 billion for buying new Gripen fighter jets from Saab. Saab Group (originally Svenska Aeroplan AB, later SAAB) is a Swedish aerospace and defence company was founded in 1937. About 76% voters rejected the proposal made by Swiss union SGB and backed by the Socialist and Green parties for a minimum wage of 22 Swiss francs ($25) per hour.Around 53% blocked a plan to replace Switzerlands senescent fleet of fighter jets with 22 Gripen jets from Saab. Had the proposal been accepted, it would have led to job cuts, particularly in remote and structurally weaker regions.The initiative was proposed to address a widening income gap in the generally egalitarian country. Though voters approved giving shareholders a binding say on executive pay, but rejected a proposal to cap the salaries of top executives at 12 times that of a companys lowest wage.Chibok Kidnapping of Schoolgirls: Nigerias President calls off town visitMay 20, 2014Nigerias President Goodluck Jonathan has cancelled a visit to Chibok, the town from where more than 200 schoolgirls have been abducted by militant Islamist group Boko Haram. Jonathan has been criticised for not visiting the town more than a month after the girls were abducted.The president will now go direct to Paris to participate in a meeting convened by French President Francois Hollande to discuss the issue of Boko Haram militants.Around 276 female students were abducted from the Government Secondary School in the town of Chibok in Borno State, Nigeria on the night of April 14-15, 2014. Boko Haram, an Islamic Jihadist, and Takfiri terrorist organization based in northeast Nigeria have claimed these kidnappings. Boko Haram, had earlier said the girls should not have been at school and should be married instead.Boko Haram:It is a militant Islamist group Boko Haram active mainly in Nigeria and is responsible for wreaking mayhem in the country through a series of bombings, assassinations and now kidnappings. It intends to bring down the government and create an Islamic state.Boko Haram promotes a version of Islam which makes it haram, or forbidden, for Muslims to participate in any political or social activity associated with Western society. This includes voting in elections, wearing shirts and rousers or receiving a secular education.The group was set up in 2002 as Jamaatu Ahlis Sunna Liddaawati wal-Jihad, which in Arabic means People Committed to the Propagation of the Prophets Teachings and Jihad. It was dubbed Boko Haram, a phrase in the local Hausa language meaning, Western education is forbidden.Adani Ports buys Dhamra Port of OdishaMay 20, 2014Adani Ports and Special Economic Zone acquired the strategic Dhamra port in Odisha on the east coast of India for an enterprise value of Rs 5, 500 crore. The company inked a definitive pact to acquire the port from a 50:50 joint venture of Tata Steel and Larsen & Toubro. After the 2005 acquisition of Pipapav Port in Gujarat by APM Terminals BV from SKIL Infrastructure, the Dhamra deal is the largest port sector deal in India.Dhamra Port:Dhamra port is one of the deepest ports on the eastern coast of India. It was granted the rights by the Odisha government in 2004 to develop and operate for 30 years. The port is considered strategic as it is located to serve the mineral belt of the eastern states and in between competitors and government-controlled Haldia and Paradip ports.Adani Ports and SEZ:Gautam Adani-led Adani Ports and SEZ is listed on Bombay Stock Exchange (BSE) and is 75% owned by Adani Enterprises, the flagship of Adani group. The company owns and operates 5 ports, of which three Dahej, Hazira and Mundraare in Gujarat. Dhamra port will help the company enhance its capacity to over 200 million tonne by 2020, making it a leader among private sector port operators in the country. Adanis family firm also operates a coal loading terminal at Abbot Point in Queensland in Australia.RBI to launch Plastic notes in 2015May 20, 2014As per Reserve Bank of India (RBI) Governor Raghuram Rajan, Plastic currency notes will be launched in 2015 after field trial which is likely to be conducted in the latter half of 2014. The pilot testing would be conducted in five cities- Kochi, Mysore, Jaipur, Bhubaneswar and Shimla.One billion plastic notes of Rs.10 denomination will be released in the field trial in these cities chosen for their geographical and climatic diversity. Plastic currency notes have an average life span of about 5 years and are difficult to counterfeit. Also, these notes are cleaner than paper notes.Modi is not the first instance when CM becomes PMMay 21, 2014Prime Minister-to-be Narendra Modi is not the first Chief Minister to ascend to the seat of the head of Government of India. The distinction goes to former Karnataka CM H.D. Deve Gowda, who, moved to the post of Prime Minister in 1996.Mr. Gowda resigned as Chief Minister and gave up his membership of the Karnataka Legislative Assembly after he was named PM. The Constitution of India permits a person, who enjoys the support of the majority of Lok Sabha MPs, to be sworn in as PM without being a member of either the Lok Sabha or the Rajya Sabha.However, the person has to get elected to either House of Parliament within a period of 6 months. Mr. Gowda chose to become a member of the Rajya Sabha.Narendra Modis Case:Because Mr. Modi is already elected as a member of the Lok Sabha from Vadodara and Varanasi, he will have to step down as CM and resign as the member of the Gujarat Assembly as well as one of the two Lok Sabha seats he has been elected. As per the law, an individual cannot be a member of the Lok Sabha/ Rajya Sabha as well as the Legislative Assembly. The person has to give up his membership of one of the two within 14 days of the notification of the election result by the Election Commission. The same rule applies to a person who is elected from more than one Lok Sabha or Legislative Assembly seat.The unique case of Narasimha Rao:The case of the late Narasimha Rao is one of its kind. He had almost retired from politics and did not fight the 1991 Lok Sabha (LS) polls. But the situation took a sharp turn with the assassination of Congress prime ministerial candidate Rajiv Gandhi at Sriperumbudur in Tamil Nadu, where he was campaigning for the same LS elections.The Congress won the elections and the party proposed Sonia Gandhi to be the PM but she declined the proposal. Then Mr. Rao, who had the support of Ms. Gandhi, was chosen for the job of Prime Minister. Subsequently, he contested a by-election from the Nandyal Lok Sabha constituency in Andhra Pradesh and won with a record margin of over 5 lakh votes as the Telugu Desam Party endorsed his political campaign in the name of Telugu pride.Pension Payment Order (PPO) to be given soon after retirement to Central Govt employeesMay 21, 2014The Centre has decided to give Pension Payment Order (PPO) to all central government employees at the time of retirement along with their other dues. This step has been taken to check the delay in disbursal of pension. Currently, the scheme for payment of pensions to central government civil pensioners is implemented through authorised banks. The scheme issued by the Central Pension Accounting Office provides for an undertaking to be submitted by the retiring government servant or pensioner to the pension disbursing bank before commencement of pension.It has been found that the first payment of pension after retirement gets delayed mainly due to two reasons:-1. Delay in receipt of intimation by the pensioner that pension papers have reached the bank.2. Delay on part of the pensioner in approaching the bank for submission of undertaking.Now, the pensioner is not required to visit the bank to activate the first payment of pension. The Ministry of Personnel has directed Office of Controller General of Accounts to instruct all Pay and Accounts Offices and all pension disbursing banks to follow its directives. There are about 30 lakh Central government pensioners.RBI to start managing Telanganas public debt from June 2, 2014May 21, 2014The Reserve Bank of India (RBI) and the newly created state Telangana have inked a pact according to which the RBI shall carry on the general banking business of the Government of Telangana, manage its rupee public debt and act as the sole agent for investment of Governments funds. The agreement is consistent to the Andhra Pradesh Reorganisation Act, 2014.The Andhra Pradesh Reorganisation Bill 2014, which received Parliaments approval February 20, 2014, got the Presidential assent in March 2014 and paved the way for the formation of 29th state of India by bifurcating Andhra Pradesh.The remaining Andhra Pradesh will have 13 districts while Telangana will have 10 districts, including Hyderabad city.Researchers unravel why olive oil reduces blood pressureMay 21, 2014Scientists have discovered why olive oil reduces blood pressure. As per a new research, consuming unsaturated fats, like those in olive oil, along with leafy greens and other vegetables forms a certain kind of fatty acid that lowers blood pressure. These nitro fatty acids are created when consuming spinach, celery and carrots that contain nitrates and nitrites, along with avocado, nuts and olive oils that contain healthy fats.Nitro fatty acids appear to inhibit an enzyme known as soluble epoxide hydrolase which regulates blood pressure. Scientists can now explain why previous research found that a Mediterranean diet supplemented with extra-virgin olive oil or nuts can reduce the occurrence of cardiovascular problems like stroke, heart failure and heart attacks.Thus far, it was only known that the Mediterranean diet which consists of lots of vegetables, fish, grains, red wine and fatty nuts and oils is salubrious, there has been little scientific consensus about how or why.All banks need to install talking ATMs from July 1, 2014: RBIMay 22, 2014As per the directions of the Reserve Bank of India (RBI), all banks will be required to make all new ATMs installed from July 1, 2014 as talking ATMs with Braille keypads.As per RBIs guidelines to all banks: All new ATMs installed from July 1, 2014 should be talking ATMs with Braille keypads. Banks should lay down a roadmap for converting all existing ATMs as talking ATMs with Braille keypads. The same may be reviewed from periodically by the Customer Service Committee of the Board. Banks should provide magnifying glasses in all bank branches for the use of persons with low vision, whenever they need for performing banking transactions with ease. A notice about the availability of magnifying glasses and other facilities available for persons with disabilities should be displayed at a prominent place.Flipkart acquires MyntraMay 22, 2014Indias largest online retailer, Flipkart.com, acquired fashion e-retailer Myntra.com. While the exact size of the deal could not be ascertained, some reports estimate it to be of Rs 1,800-2,000 croreThe deal is expected to consolidate Rs 62,000-crore e-commerce market of India. The acquisition by Flipkart reflects the companys intention to tap into the online sales of apparel and fashion accessories where it has had limited. Apparel and fashion domain is the largest shopping categories in the online retail space.As per experts, by 2019, the electronics and fashion domain will account for 30% of the sales in the online e-commerce space.RBI permits banks to provide loans to exporters for up to 10 yearsMay 21, 2014Banks have been allowed by the RBI to give loans with tenures of up to 10 years to exporters to help them ensure capital flows to fulfil long-term contracts. As per current rules, banks are allowed to provide loans for up to 1 year only.RBI has permitted banks to allow exporters having a minimum of 3 years satisfactory track record to get long-term export advance up to a maximum tenor of 10 years to be utilized for execution of long-term supply contracts for export of goods.This facility is available with certain caveats, including:-1. An interest rate limit of 200 basis points above the London interbank offered rate (Libor), a global benchmark.2. Exporters getting loans of $ 100 million or above are required to report the transaction immediately to the RBI.3. There should be irrevocable supply orders in place.4. The contract with the overseas party or buyer should be examined and must clearly specify the nature, amount and delivery timelines of products over the years and the penalty in case of non-performance or contract cancellation.5. Export advances which are classified as non-performing assets as per RBI norms cant be used to liquidate rupee loans.6. Exporters should have the capacity, systems and processes in place to ensure that orders over the duration of the tenure can be executed.Jitan Ram Manjhi sworn-in as Bihar Chief MinisterMay 21, 2014Jitan Ram Manjhi is the new Chief Minister of Bihar. He was administered oath of office and secrecy by Governor D.Y. Patil at a ceremony at the Raj Bhavan in Patna. The 15 members of the previous Nitish Kumar government have retained their place in the new Jitan Ram Manjhi Ministry, while two independent MLA have also been added.It may be recalled that chief minister Nitish Kumar had resigned from the post taking the responsibility of his partys (JDU) dismal performance in the recently concluded Lok Sabha polls.Jitan Ram Manjhi:Manjhi is from Mahkar village in Gaya district. He is a legislator from the Makhdoompur assembly constituency in Jehanabad district. He is the third Dalit CM of Bihar after Bhola Paswan Shastri and Ram Sundar Das. Prior to his appointment as CM, Manjhi was SC/ST welfare minister in the Nitish Kumar cabinet.Naveen Patnaik takes oath as fourth time CM in OdishaMay 23, 2014Naveen Patnaik was sworn-in as Chief Minister of Odisha for the fourth term in a row. Mr. Patnaik was administered the oath of office and secrecy by Governor S.C. Jamir.It was in 2005 when Mr. Patnaik, head of Biju Janata Dal (BJD), became the CM for the first time when the BJD-BJP alliance came to power defeating the Congress.Mr. Patnaik continued his second term from 2004 to 2009 when the BJD separated itself from the BJP and contested the elections by having seat sharing arrangements with Communist Party of India, Communist Party of India (Marxist) and Nationalist Congress Party.Pawan Chamling takes oath as Sikkim CM for fifth consecutive termMay 23, 2014Sikkims Governor Shriniwas Patil administered the oath of office and secrecy to Pawan Chamling as Sikkim Chief Minister for the record fifth term in a row.In the recently concluded assembly polls, the Chamling-led Sikkim Democratic Front (SDF) had won a two-thirds majority securing 22 seats out of total 32.Chamling has been in power since December 12, 1994 and has already completed two decades as the CM of state which merged with India in 1975.Members of Planning Commission resignMay 23, 2014Following the standard practice, all members of the Planning Commission (PC) including Deputy Chairman Montek Singh Ahluwalia and all the other members of the Commission submitted their resignations to the Prime Ministers Office to enable its reconstitution. Dr. Ahluwalia and the rest of the members will continue as acting members till a new Commission is set up.The Prime Minister is the ex-officio chairman of the PC and all members of the commission submit their resignations to the Prime Minister after the general elections. The term of members of the PC is coterminous with the government. The reconstitution of the new PC will be decided by the newly elected government.This outgoing Planning Commission had formulated the 12th Five Year Plan (2012-17), which envisages an annual average economic growth of 8% during the plan period.Anandiben Patel: First woman CM of GujaratMay 22, 2014Anandiben Patel (73) will succeed PM-designate Narendra Modi as the Chief Minister of Gujarat. Prior to her election as CM, she was states revenue minister. Modi was the longest-serving chief minister of the state. Anandiben Patel is the first woman chief minister of Gujarat.Anadiben Patel:Born: November 21, 1941Political Party: Bhartiya Janata Party (BJP)Career Profile: Former school teacher, a gold-medalist in MSc and also a winner of the Presidents Medal. She held important portfolios of urban development, revenue and disaster management and was earlier in charge of education ministry, steering successfully some of the key Modi projects, including the one for boosting female literacy.Donald Levine, man behind G.I. Joe, passed awayMay 23, 2014Donald Levine (86), the man credited as the father of G.I. Joe (toy) for developing the worlds first action figure, passed away. As the head of research and development at toy manufacturer Hasbro, Levine led the team which developed the figure complete with 21 moving parts that made it popular among kids. Mr Levine was not the inventor of the iconic toy, that was merchandiser Stan Weston, but he gauged its potential and developed the model as a mass seller. G.I. Joe first hit the shelves of American toy shops in Christmas 1964, and was an instant success.G.I.JoeG.I. Joe is a range of action figures produced by the toy manufacturing company Hasbro. The term G.I. stands forGovernment Issued and after the First World War became a common term for U.S. soldiers. G.I. Joe was inducted into the National Toy Hall of Fame at The Strong in Rochester, New York, in 2003.Genral Polls 2014: Dhubri recorded highest Voter Turnout; Srinagar the lowestMay 23, 2014The 16th Lok Sabha polls registered a record average voter turnout of 66.4%. Dhubri of Assam witnessed the highest turnout at 88.22% followed by Nagaland at 87.82%; Srinagar of J&K registered the lowest turnout at 25.90%, followed by Anantnag of the same state.Table 1: Top 10 Parliamentary Constituencies in terms of Voter TurnoutSl. NoParliamentary ConstituencyState/UTVoter Turnout

1DhubriAssam88.22%

2NagalandNagaland87.82%

3TamlukWest Bengal87.59%

4BishnupurWest Bengal86.72%

5LakshadweepLakshadweep86.61%

6KanthiWest Bengal86.61%

7Bardhaman PurbaWest Bengal86.21%

8Tripura WestTripura85.92%

9BasirhatWest Bengal85.45%

10BirbhumWest Bengal85.33%

Source: Election Commission of India

Table 2: Bottom 10 Parliamentary Constituencies in terms of Voter TurnoutSl. NoParliamentary ConstituencyState/UTVoter Turnout

1SrinagarJammu & Kashmir25.90%

2AnantnagJammu & Kashmir28.84%

3BaramullaJammu & Kashmir39.13%

4KalyanMaharashtra42.88%

5Patna SahibBihar45.33%

6BhindMadhya Pradesh45.62%

7NalandaBihar47.22%

8Mumbai North CentralMaharashtra48.61%

9ArrahBihar48.75%

10BansgaonUttar Pradesh49.88%

Source: Election Commission of India

RBI eases gold import to promote its export under its 20:80 formulaMay 23, 2014Star trading houses big importers and exporters has been permitted by the RBI to import gold under its existing