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December 2012-1st to 9th National Supreme Court for special investigation team to probe Manipur fake encounter killings

The Supreme Court on Thursday expressed serious concern at fake encounter killings in Manipur, which included children, and suggested to the Union government that it form a special investigation team to probe such killings. A Bench of Justices Aftab Alam and Ranjana Desai, after perusing the affidavits filed by the National Human Rights Commission (NHRC), the Centre, the Manipur government and the report of a judicial officer, said at least certain cases required further probe. Justice Alam told the amicus curiae, who sought a CBI probe into the killings: What will the CBI do? They will take years and years. By that time everything will be forgotten. Why should there not be a proper investigation? There is something more than what meets the eye. So many encounters took place. Situation is not normal. We are concerned about the failure of constitutional scheme. Counsel for the NHRC said it would not be possible for a special investigation team to conduct such a probe in such large number of cases. The Bench, after hearing a writ petition filed by the Extra-Judicial Execution Victims Families Association for a probe into over 1,500 fake encounters, issued the notice to the Centre, the NHRC and Manipur. Justice Alam told counsel, It is a very serious matter. How can a 12-year-old child be abducted and killed in such a fashion? Even if he is a 12-year-old militant, there is no justification for such a killing [and] the district judge inquiry has confirmed that they were fake encounters. In its counter argument, the Centre said that exempting Manipur from the Armed Forces Special Powers Act would call for an indirect amendment that would be totally unjustified and demoralise the armed forces and hamper their functioning. These personnel were already risking their lives while dealing with heavily armed militants and, therefore, it was of utmost importance that sanction for prosecution was available to them. The Centre said, If normalcy prevails in Manipur, there will be no need for deployment of central forces. The petitioner is blaming only the government and the security forces and is not making any adverse comments on the anti-national forces operating in the State. The petitioner can do well to instil good sense in those unlawful outfits by enlisting them to join the mainstream of national life after laying down arms and get financial packages offered by the central government. Arguments will continue on January 4. Armed Forces (Special Powers) Act According to the Armed Forces Special Powers Act (AFSPA), in an area that is proclaimed as "disturbed", an officer of the armed forces has powers to[6]:

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Fire upon or use other kinds of force even if it causes death, against the person who is acting against law or order in the disturbed area for the maintenance of public order, after giving such due warning. Destroy any arms dump, prepared or fortified position or shelter or training camp from which armed attacks are made by the armed volunteers or armed gangs or absconders wanted for any offence To arrest without a warrant anyone who has committed cognizable offences or is reasonably suspected of having done so and may use force if needed for the arrest. To enter and search any premise in order to make such arrests, or to recover any person wrongfully restrained or any arms, ammunition or explosive substances and seize it. Stop and search any vehicle or vessel reasonably suspected to be carrying such person or weapons. Any person arrested and taken into custody under this Act shall be made over to the officer in charge of the nearest police station with the least possible delay, together with a report of the circumstances occasioning the arrest. Army officers have legal immunity for their actions. There can be no prosecution, suit or any other legal proceeding against anyone acting under that law. Nor is the government's judgment on why an area is found to be disturbed subject to judicial review. Protection of persons acting in good faith under this Act from prosecution, suit or other legal proceedings, except with the sanction of the Central Government, in exercise of the powers conferred by this Act.

For declaring an area as a 'disturbed area' there must be a grave situation of law and order on the basis of which Governor/Administrator can form opinion that an area is in such a disturbed or dangerous condition that use of Armed Forces in aid of civil power is necessary The Armed Forces (Special Powers) Act (AFSPA), was passed on September 11, 1958, by the Parliament of India It grants special powers to the armed forces in what the act calls "disturbed areas" in the states of Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland and Tripura. It was later extended to Jammu and Kashmir as The Armed Forces (Jammu and Kashmir) Special Powers Act, 1990 in July 1990 The central government accordingly set up a five-member committee under the Chairmanship of Justice B P Jeevan Reddy, former judge of the Supreme Court. The panel was given the
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mandate of "review[ing] the provisions of AFSPA and advis[ing] the Government of India whether (a) to amend the provisions of the Act to bring them in consonance with the obligations of the government towards protection of human rights; or (b) to replace the Act by a more humane Act." The Reddy committee submitted its recommendations on June 6, 2005. However, the government failed to take any concrete action on the recommendations even after almost a year and a half. The then Defence Minister Pranab Mukherjee had rejected the withdrawal or significant dilution of the Act on the grounds that it is not possible for the armed forces to function in disturbed areas without such powers BSE CarbonexIndias first carbon-based thematic index launched The Bombay Stock Exchange (BSE) launched, countrys first carbon based thematic index, BSE Carbonex, which will provide a strategic perspective of organizational commitment to climate change mitigation. What is the aim of BSE Carbonex? This index is introduced with an aim providing a benchmark, and increasing awareness about the dangers posed by climate change. It will enable investors to gauge the performance of the constituent companies of BSE-100 index regarding their commitment to greenhouse gases emission reduction. Constituents of BSE Carbonex are over or underweighted compared to the benchmark based on their performance in the assessment process. The assessment will be based on the carbon emission and carbon efficiency of companies. The index will encourage people to invest in companies performing well on the index thus promoting low carbon growth. The Index has been developed with the help of expertise from U.K. INDRA: India, Russia joint naval exercise India and Russia held joint naval exercise INDRA in Mumbai. The exercise was held in 20003 for the first time and is being conducted every two years. Objective: To enhance interoperability, will be helpful in tackling threats like the pirates in the Gulf of Aden. It will also build greater cooperation and mutual understanding b/n two navies. Army to set up its own mini air force Army which recently won the conflict with the IAF to get heavy-duty attack helicopters of its own, it is now is now aiming to create its own mini air force. Army has approved the setting up of a permanent cadre for the Army Aviation Corps (AAC) by the end of 2102, which will operate light observation and attack helicopters in the short-term and medium-lift choppers and even fixed-wing aircraft in the long-term. Nations such as the US, China and Pakistan have a dedicated aviation wing within their armies. What is the current scenario? Currently, the AAC operates around 250 light helicopters like Druv, Cheetah and Chetak, while attack and medium-lift choppers have always been with IAF. The Army has demanded one
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attack helicopter squadron (10-12 choppers) for the establishment of its three "strike" formations Corps (Mathura) Corps (Ambala) Corps (Bhopal) In addition, it has plans to induct another 114 Rudra light combat helicopters for the 10 pivot corps. What IAF is worried about? As per IAF it will lead to duplication of efforts and waste of scarce resources. Navy Day 4TH DECEMBER The three chiefs of Defence staff , on the occasion of Navy Day paid their homage to the martyrs at the national war memorial at India Gate. Navy Chief Admiral D. K Joshi, Army Chief General Bikram Singh and Air Chief Marshal, N.A.K. Browne paid floral tributes to the soldiers at the war memorial. Every year, the Indian Navy celebrates December 4 as Navy Day to commemorate the victory of Indian Navy at sea in the Indo-Pak War of 1971. Indian Navy is evolving continuously to meet emerging challenges to suit India's maritime interests. Modernisation and enhancement of the Navy's capabilities is going on to meet emerging maritime challenges/threats.Anti Surface Warfare Corvettes are being series built at Garden Reach Ship-builders, Kolkata. In addition, Naval Offshore Patrol vessels are under construction both at public and private sector shipyards.The construction of the Indigenous Aircraft Carrier though delayed is now picking up pace at Kochi Shipyard. In 2013, Navy expects to induct one Kolkata class destroyer, one P-28 ASW Corvette, one Catamaran Hull Survey Vessel, one Offshore Patrol Vessel and sixteen Fast Interceptor Craft.Amongst the overseas projects, the delivery of Vikramaditya is expected to take place in the last quarter of 2013. The scheduled induction of P8I Long Range Maritime Reconnaissance aircraft commencing 2013 would augment the aerial surveillance capability. Operation Trident Operation Trident and its follow-up Operation Python were naval offensive operations launched on Pakistan's port city of Karachi by the Indian Navy during the Indo-Pakistani War of 1971. Operation Trident resulted in the first use of anti-ship missiles in the region as well as the first sinking of naval vessels during hostilities in the region since World War II. India celebrates its Navy Day annually on 4 December to mark this operation.

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Corporate frauds on rise in India- Survey As per the findings of India Fraud Survey Report 2012 published by KPMG, around 75% surveyed corporate in India believed that the incidences of fraud were increasing. As per the report: Decline of ethical values, weaker internal control system, reluctant managers for taking the decisive action were major reasons. Mistake of senior management tasks by the audit committees, weak regulatory mechanisms major concern. Sales, distribution and procurement are most susceptible areas of fraud. Competition to surpass market expectations was the primary reason behind financial fraud Fraud in financial statement was a primary concern Absence of recognized fraud risk management system In coming years, Computer-related and e-commerce frauds would become major concerns, Around 75% frauds were committed by the employees The important findings of the Survey are as follows: 63% say the desire to exceed market expectations is the main reason to commit financial fraud 81% say financial statement fraud is a major issue 41% say they do not have a formal fraud risk management framework e-commerce & computer-related fraud to be a source of major concern in the coming years 75% all fraudulent activities, except Intellectual Property (IP) fraud were perpetrated by employees MIC: Killer behind the Bhopal gas tragedy On this day, 28 years back, India witnessed what is now considered as the worlds worst industrial disaster: a gas leak at Union Carbide Corporations (UCC) pesticide plant in Bhopal, the capital city of Madhya Pradesh. On the night of December 2-3, 1984, tonnes of methyl icocyanate (MIC) leaked out of the Union Carbide India Limited (UCIL) plant even as the residents slept on in oblivion. The safety systems in place to contain such a leak did not function, and as a result the gas spread throughout the city.
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Thousands died within days of being exposed to the chemical substance, and millions are still reeling from ailments that have been caused by this accident and the air pollution that has drifted across from the plant site. Fatal chemistry So what triggered this chain of events? The UCIL factory set up in 1969 to produce the pesticide Sevin (UCCs brand name for carbaryl), used MIC as an intermediate. Methylamine was made to react with phosgene to produce MIC, which then reacts with 1-naphthol to form carbaryl, the final product. This technique was different from other MIC-free routes employed across the globe, in which chloroformate ester, produced when phosgene reacts with naphthol, was then made to react with methyl amine. On that fateful night, water entered Tank E610, which contained more than 40 tonnes of MIC, initiating a runaway reaction (an increase in temperature changes the conditions in such a way that the temperature increases further, often destructive). Contaminants, high temperatures and the presence of iron accelerated the process, resulting in an exothermic reaction. The high temperature and pressure that developed forced the emergency venting of pressure from the holding tank and large volume of toxic gases escaped into the atmosphere. More about MIC Methyl isocyanate, an organic compound with the chemical formula CH{-3}NCO, is a colourless, lachrymatory (tear inducing), flammable liquid that is extremely toxic. The threshold limit is set as 0.02 ppm (parts per million) as quantities as low as 0.4 ppm is deemed poisonous if it enters the system through inhalation, ingestion or contact. While the high levels of exposure caused the deaths that occurred, follow-up studies have indicated that pulmonary (pertaining to lungs), ophthalmic (affecting nerve organs), reproductive, immunological, neurological and hematologic (blood related) toxics are present among the survivors. Twenty-eight years on, the city still continues to grapple with the situation even as the painful memories linger on. The effects and after-effects have been far more gruesome than that imagined by anyone.
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Victims, survivors and their descendants have not only endured the repercussions of a harmful gas, but have also fallen prey to the woeful treatment of the system. It is high time to free them from their suffocation.

Andhra Pradesh Assembly adopts Indias first legislation on Sub-plans for SCs/STs Andhra Pradesh Assembly adopted a Bill to provide legislative support to the Sub-Plans for SCs and STs with a mandatory provision for allocation of nearly a fourth of the States annual plan of the budget for them. With this, AP has become the first State in the country to adopt the law according legal status to the Sub-Plans for SCs and STs as insisted for a long time on States by the Planning Commission and National Development Council (NDC). The legislation will be effective from the States 2013-14 budget. What would this legislation do? The legislation would convert the Sub-Plans a right of the SCs and STs, mandatory to successive Chief Ministers. There was no constitutional provision to prevent lapsing of SC/ST funds, as the Assembly was empowered to adopt annual budget merely for one year. Passport Seva Project: winner of CSI-Nihilent e-Governance Award December 3rd, 2012 Passport Seva Project of Ministry of External Affairs won CSI-Nihilent e-Governance award for Excellence. CSI-Nihilent e-Governance award for Excellence Instituted in 2002 by the Computer Society of India (CSI), which is the largest association of IT professionals, in collaboration with Nihilent Technologies. Recognizes successful efforts in application of Information and Communication technology for good governance Infosys to shift its ADS from Nasdaq to NYSE Euronext Indian IT major Infosys will shift its American Depositary Shares (ADS) from the NASDAQ to NYSE Euronext. The step is being taken to provide European investors better access to its stock. What is ADS? It refers to US dollar denominated share of any foreign company trading on an American stock exchange. Why Infosys has chosen NYSE Euronext? NYSE Euronexts equities markets represent nearly 40% of the worlds equities trading and are considered the most liquid of any global exchange group.
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Its tie-ups with exchanges in Europe will allow Infosys to expand its market base by making its stock more visible and accessible to investors in countries such as Germany and France. Goa illegal mining report A large number of leases are being operated by persons other than lessees, and in violation of Mineral Concession Rules The Central Empowered Committee (CEC) has asked the Supreme Court not to permit the mines in Goa to extract minerals from the dumps located outside the approved lease areas till fresh environmental clearance is obtained. In October, acting on a petition filed by the Goa Foundation, the Forest Bench stayed all mining operations, including transport of mined minerals (iron ore and manganese), in the leases in the State. The Bench made it clear that no minerals, whether lying in the mine-head or the stockyard, would be transported until further orders and asked the CEC to file its response to the petition. This ruling was based on the report of the Justice M.B. Shah Committee of Inquiry into illegal mining. In its interim report, the CEC said: As against the total production of 1553.724 lakh tonnes of iron ore between 2006-07 and 2010-11, a total of 1949.369 lakh tonnes of Goan origin has been exported, i.e., the total quantity exported is 395.645 lakh tonnes more than the total quantity reported to have been legally produced. In addition, part of the iron ore has been used for domestic consumption. There was every reason to believe that the excess quantity that was exported was illegally mined It said a very large number of leases were being operated by persons other than the lessees, and in flagrant violation of the provisions of the Mineral Concession Rules, 1960 and, in all probability, with the tacit approval of the State government. Through the unregistered and dubious general power of attorneys and other documents, the leases were allowed to be operated by persons having clout, with the leases granted to individual persons treated as those given to partnership firms, and such persons included as partners in the firms and the genuine leaseholders retiring. Two such leases were being operated by the subsidiaries of a company registered outside India. The environmental clearances granted for mining in areas, comprising forestland, full or in part, might be directed to be operative only after the approvals were granted under the Forest (Conservation) Act, 1980, for the non-forestry use of the forestland. Till then, all such clearances should be held in abeyance, and the mining operations should not be permitted to resume, the CEC said. The Bench said: The operation may be allowed to be resumed by the lessees not involved in any illegalities only after the Macro-Level Environment Impact Assessment Study Report of the Indian Council of Forestry Research and Education is received, and a decision is taken on the taluk-wise ceiling on the permissible annual production from all the leases. The resumption of operations by lessees found involved in illegalities, including the violation of Rule 37 (1) of the Mineral Concession Rules, and working beyond the sanctioned boundaries
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should not be permitted till a decision was taken on compensation payable by such leaseholders, and the preparation and implementation of the reclamation and resettlement plans were completed. The CEC said it would file its recommendations in due course on the punitive action against the erring officials and other public functionaries; compensation payable by the defaulting leaseholders and others; cancellation of the leases found involved in substantial illegal mining and other serious illegalities; and other issues, if any, which have not been adequately dealt with in this report. It wanted the court to consider passing directions on compensation payable by the leaseholders found involved in illegal mining; cancellation of the leases found involved in substantial illegal mining; and punitive action against the erring officers and others. The case will come up for further hearing on January 4. CEC-Central Empowered Committee The CEC was constituted on 17 September 2002 through a Gazette Notification issued by the Ministry of Environment and Forests. The CEC has been constituted as an Authority under the provision of Sub section (3) of section 3 of the Environment (Protection) Act, 1986 in pursuance of the order of the Supreme Court dated 9-5-2002 and 9-9-2002 in W.P. 202/95 and 171/96 for a period of five years. The CECs broad task is to monitor and ensure the compliance of the orders of the Supreme Court concerning the subject matter of forests and wildlife and other issues arising out of the said order. The Supreme Courts decision to get an independent technical assessment on how the Yamuna can be revived from its deathly state is a deserved rebuke to the Delhi administration and equally, the Ministry of Environment and Forests for the manner in which they have been handling the issue of pollution control. For many years now, the Ministry has been aware of the torrents of untreated sewage that choke both the Yamuna and Ganga. The Central Pollution Control Board has produced detailed reports on the problem and attributed the Yamunas slow death between Hathnikund and Agra to the unmitigated discharge of effluents. Regrettably, in spite of constant monitoring by the CPCB and the worsening state of the river, the MoEF has pursued little more than incremental steps. Delhis civic agencies have also not delivered on the sewage treatment plants that are so vital for restoration. Clearly, mitigating river pollution enjoys low priority. Parliament was informed recently that the Ganga is so polluted with faecal coliform matter that it does not meet water quality norms all the way from Kanpur to Diamond Harbour in Kolkata. It will take another eight years under the Mission Clean Ganga for the flow of untreated sewage (exceeding 1,600 million litres a day) and industrial effluents into the river to stop. All this reflects an indolent approach to urban pollution control, which stands in contrast to hectic speculation in real estate. A clean-up programme for Indias rivers requires vigorous application of the polluter pays principle. Since much of India is inexorably moving towards urbanisation, the focus of policy must be on planned housing, water supply and sanitation. For New Delhi, the Supreme Court had
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ordered even in 1999 that a specific quantum of water flow be ensured in the Yamuna for its revival. That no salvage operation has proved successful is a telling commentary on the efficacy of the expensive Yamuna Action Plan, which is now into its third phase. It would be appropriate, therefore, for the court to put in place a review mechanism for the cleansing operation to follow, with clear reporting requirements. Accountability norms for official agencies are necessary for the restoration of many more rivers that have been killed off by pollution. Although the Environment (Protection) Act and the Water (Prevention and Control of Pollution) Act are intended to protect Indias waterways, the CPCB and the State Pollution Control Boards are unwilling to use them effectively. Also, a more ecologically sound approach towards environmental flows in rivers is necessary. That would mean building fewer big dams, and making more life-giving water available to rivers. Mission Clean Ganga and Yamuna Action Plan I and II The Parliamentary Committee on Environment and Forests has found that the mission to clean Ganga and Yamuna has failed. It says undue investment on technical aspects like creating sewage treatment plants to prevent the pollution in river Ganga without involving people living on the banks of the river are the reasons for it. In its report on demands for grant for the year 2012-13 for the Union environment ministry, the committee said in the last twenty years, the ministry has spent Rs 39,226-crore on cleaning river Ganga and Rs 1,306 crore on Yamuna but the quality of water in both the rivers is deteriorating day-by-day. The report has been tabled in the Rajya Sabha on May 18. The committee noted that initiative to clean Ganga started somewhere in the sixth Five Year Plan under Ganga Action Plan. Thereafter, Ganga Action Plan-II and some other schemes with different names were operationalised by the ministry. In 2009, the ministry set up National Ganga River Basin Authority (NGRBA) which aims that by 2020 no untreated municipal sewage or industrial effluent will flow into the river Ganga. Under the programme 53 projects for abatement of pollution in the river have been sanctioned since 2009-10 in 42 towns of Uttarakhand, Uttar Pradesh, Bihar and West Bengal at an estimated cost of Rs 2,598.48 crore. Similarly, Yamuna Action Plan Phase-I was launched by the ministry in 1993 and had been completed at a total cost of Rs 682 crore in 2003. Under this Plan, a sewage treatment capacity of 753.25 million litre per day has been created in Haryana, Delhi and UP. Thereafter, Yamuna Action Plan Phase-II was initiated at an estimated cost of Rs 624 crore. Now, Yamuna Action Plan-III is envisaged to be implemented in Delhi at an estimated cost of Rs 1,656.00 crore. Indira Gandhi Centre for Sustainable Development at Oxford University As a tribute to the former Prime Minister, Indira Gandhi, the government on Friday gave an inprinciple approval for setting up of the Indira Gandhi Centre for Sustainable Development at Somerville College, University of Oxford. Mrs. Gandhi was a student of Somerville College. An inter-ministerial committee is already in place to discuss the proposal. The centre will honour the late Prime Ministers legacy by addressing key issues of sustainable development and will result in building up Indias intellectual capital and expertise in the area.
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It will enhance scholarship opportunities at Oxford for bright and talented students from India in the field of sustainable development, invest in intellectual capital and build a platform for strengthening partnerships with Indian scholars and leading institutions, thereby creating a community of alumni engaged in lifelong learning.The centre is aimed at having a transformational impact on the lives of future leaders, who will help to direct a new paradigm of sustainable development in India and beyond.There will be three core activities, including supporting talent and leadership development by making graduate/Ph.D. scholarships available specifically to Indian students at Oxford, with a cohort of Indian graduate students participating directly in research of relevance to India. The centre will strengthen interdisciplinary and pioneering research into food security, environmental sustainability and international governance by establishing post-doctoral positions and fellowships. The building will be designed to house an innovative incubator environment, helping foster new thinking and robust solutions to the challenges facing India and South Asian communities. Lok Sabha and Rajya Sabha clears FDI in retail Parliament gave the approval to FDI in multi-brand as the opposition motion seeking immediate back down of the decision was rejected convincingly as BSP and SP walked out. The House also rejected the motion seeking amendment to the rules notified by the Reserve Bank under Foreign Exchange Management Act (Fema) to enable FDI in multi-brand retail. Members of SP and BSP, strength 22 and 21 respectively in Lok Sabha, did not participate in the voting as they walked out alleging that interests of farmers and small retailers had been ignored FEMA violations in the Bharti-Walmart joint venture The government told Parliament that investigation into alleged FEMA violations in the BhartiWalmart joint venture had been referred to the Enforcement Directorate. Online services provider Flipkart is also under the ED scanner. Minister of State for Commerce and Industry S. Jagathrakshakan informed the Rajya Sabha, in a written reply, that the Reserve Bank of India had not taken on record the documents filed for an investment of Rs. 455 crore by Walmart in the Bharti group firm Cedar Support Services and had referred the matter to the ED. The FC-GPR form filed for issuance of the Compulsorily Convertible Debentures [CCD] has not been taken on record by the RBI to ensure that the CCDs are FDI-compliant instruments and for the purpose certain information has been called for from the company.
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The Minister said an inward remittance of Rs. 455.80 crore was reportedly made by Walmart Mauritius Holdings Co Limited into Cedar Support Services on March 29, 2010. However, the documents for issuance of the CCDs filed with the RBI were not taken on record by the central bank. The RBI referred the alleged violation of the Foreign Exchange Management Act to the ED for investigation in regard to both Bharti-Walmart and Flipkart Online Services. Rules flouted Flipkart allegedly flouted FDI rules which allow e-commerce companies with foreign investment to carry out only business-to-business (B2B) transactions, and not business-to-consumer (B2C) transactions by creating complex structures that may not be permissible. Walmart denial Meanwhile, a Walmart spokesperson denied as false the allegation that a routine U.S. lobbying disclosure form reflected improper conduct in India. This disclosure had nothing to do with political or governmental contacts with Indian government officials. It shows that our business interest in India was discussed with U.S. government officials along with 50 or more other topics during a three-month period, the spokesman replied to The Hindu. Under U.S. law, on a quarterly basis, all companies which meet certain time and expenses thresholds were required to disclose issues and expenditures spent in connection with contacts with the U.S. government, including staffing cost, association dues, and payments to consultants, Walmart said. Not a unique procedure This is not unique to Walmart. All organisations which expend more than $11,500 annually on lobbying activities and employ at least one lobbyist must register and file the quarterly reports. In the third quarter of 2012, lobbyists and companies filed thousands of forms. According to a Washington D.C. publication, Roll Call, in the first quarter of this year, 143 organisations reported expenses of more than $1 million. Our Washington office naturally had discussions with the U.S. government officials about a range of trade and investment issues that impact our businesses in the U.S. and worldwide and disclosed this in accordance with the law, the company said.

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The Foreign Exchange Management Act (FEMA) was an act passed in the winter session of Parliament in 1999 which replacedForeign Exchange Regulation Act. This act seeks to make offenses related to foreign exchange civil offenses. It extends to the whole ofIndia.[1] FEMA, which replaced Foreign Exchange Regulation Act(FERA), had become the need of the hour since FERA had become incompatible with the pro-liberalisation policies of the Government of India. FEMA has brought a new management regime of Foreign Exchange consistent with the emerging framework of the World Trade Organisation (WTO). It is another matter that the enactment of FEMA also brought with it the Prevention of Money Laundering Act 2002, which came into effect from 1 July 2005. Main Features - Activities such as payments made to any person outside India or receipts from them, along with the deals in foreign exchange and foreign security is restricted. It is FEMA that gives the central government the power to impose the restrictions. - Restrictions are imposed on people living in India who carry out transactions in foreign exchange, foreign security or who own or hold immovable property abroad. - Without general or specific permission of the Reserve Bank of India, FEMA restricts the transactions involving foreign exchange or foreign security and payments from outside the country to India the transactions should be made only through an authorised person. - Deals in foreign exchange under the current account by an authorised person can be restricted by the Central Government, based on public interest. - Although selling or drawing of foreign exchange is done through an authorised person, the RBI is empowered by this Act to subject the capital account transactions to a number of restrictions. - People living in India will be permitted to carry out transactions in foreign exchange, foreign security or to own or hold immovable property abroad if the currency, security or property was owned or acquired when he/she was living outside India, or when it was inherited to him/her by someone living outside India. - Exporters are needed to furnish their export details to RBI. To ensure that the transactions are carried out properly, RBI may ask the exporters to comply to its necessary requirements. Life insurers not allowed to participate in repo transactions: IRDA The Insurance Regulatory and Development Authority (IRDA) said that life insurance companies are not allowed to take part in repo transactions. In a circular IRDA clarified that:
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In case of reverse repo (lending) transactions in government securities and corporate debt securities, the exposure should not exceed 10% of all funds taken together. Even at segregated fund level, exposure should not exceed 10% of the fund size. For non-life insurers, the exposure to reverse repo and repo transactions in government securities and corporate debt securities should not exceed 10% of investment assets of the insurer. The tenure of repo transactions shall not exceed a period of six months. All companies would have to take prior sanction from investment committee before participating in repo transactions. The underlying debt security would have to be listed and have a minimum rating of AA or equivalent Reverse repo and repo transactions in corporate debt securities would not be allowed b/w insurer and its promoter group entities In terms of matters like accounting methodology and reporting of trades for reverse repo and repo transactions, companies would have to follow the January 2010 directions of RBI. Insurance Regulatory and Development Authority (IRDA) is an autonomous apex statutory body which regulates and develops theinsurance industry in India. It was constituted by a Parliament of India act called Insurance Regulatory and Development Authority Act, 1999 and duly passed by the Government of India. The agency operates its headquarters at Hyderabad, Andhra Pradesh where it shifted from Delhi in 2001. The duties, powers and functions of IRDA are laid down in section 14 of IRDA Act, 1999 as : [1] 1. Subject to the provisions of this Act and any other law for the time being in force, the Authority shall have the duty to regulate, promote and ensure orderly growth of the insurance business and re-insurance business. 2. Without prejudice to the generality of the provisions contained in sub-section (1), the powers and functions of the Authority shall include, 1. issue to the applicant a certificate of registration, renew, modify, withdraw, suspend or cancel such registration; 2. protection of the interests of the policy holders in matters concerning assigning of policy, nomination by policy holders, insurable interest, settlement of insurance

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claim, surrender value of policy and other terms and conditions of contracts of insurance; 3. specifying requisite qualifications, code of conduct and practical training for intermediary or insurance intermediaries and agents 4. specifying the code of conduct for surveyors and loss assessors; 5. promoting efficiency in the conduct of insurance business; 6. promoting and regulating professional organizations connected with the insurance and re-insurance business; 7. levying fees and other charges for carrying out the purposes of this Act; 8. calling for information from, undertaking inspection of, conducting enquiries and investigations including audit of the insurers, intermediaries, insurance intermediaries and other organizations connected with the insurance business; 9. control and regulation of the rates, advantages, terms and conditions that may be offered by insurers in respect of general insurance business not so controlled and regulated by the Tariff Advisory Committee under section 64U of the Insurance Act, 1938 (4 of 1938); 10. specifying the form and manner in which books of account shall be maintained and statement of accounts shall be rendered by insurers and other insurance intermediaries; 11. regulating investment of funds by insurance companies; 12. regulating maintenance of margin of solvency; 13. adjudication of disputes between insurers and intermediaries or insurance intermediaries; 14. supervising the functioning of the Tariff Advisory Committee; 15. specifying the percentage of premium income of the insurer to finance schemes for promoting and regulating professional organisations referred to in clause (2.6); 16. specifying the percentage of life insurance business and general insurance business to be undertaken by the insurer in the rural or social sector; and 17. exercising such other powers as may be prescribed

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ADB lowers India growth forecast to 5.4 per cent The Asian Development Bank (ADB), on Friday, cut Indias growth forecast to 5.4 per cent in 2012-13, barely two months after it had made a projection of 5.6 per cent growth for the Asias third largest economy. Indias growth forecast is revised from 5.6 per cent to 5.4 per cent in fiscal year 2012 and from 6.7 per cent to 6.5 per cent in 2012-13, the ADB said in its supplement to the Asian Development Outlook (ADO) 2012This is the fourth time that the bank has slashed the growth estimates for India. In the ADO released in April, the ADB had projected India to grow at 7 per cent. But it lowered its estimate to 6.5 per cent in July and further to 5.6 per cent in the ADO October update, citing falling global demand and impact of delayed monsoon on agricultural production.As regards developing Asia, which comprises 45 nations, the ADB lowered its 2012 growth forecast marginally to 6 per cent from 6.1 per cent. It also revised downward the growth outlook for 2013 to 6.6 per cent from 6.7 per cent projected earlier. Indias economy has slowed in the recent years on the back of domestic and global factors. The Asian Development Bank (ADB) is a regional development bank established on 22 August 1966 to facilitate economic development of countries in Asia (headquartered at Manila Phillipines).The bank admits the members of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP, formerly known as the United Nations Economic Commission for Asia and the Far East) and non-regionaldeveloped countries. From 31 members at its establishment, ADB now has 67 members - of which 48 are from within Asia and the Pacific and 19 outside. ADB was modeled closely on the World Bank, and has a similar weighted voting system where votes are distributed in proportion with member's capital subscriptions. At present, both the United States and Japan hold 552,210 shares, the largest proportion of shares at 12.756% each. China holds 228,000 shares (6.429%), India holds 224,010 shares (6.317%), the 2nd and 3rd largest proportion of shares respectively. Section 66 (A) of IT Act: Recent Controversies Section 66 (A) of IT Act has been termed as draconian and violating the fundamental right of freedom of expression by various civil society activists and critics. Some incidents of arbitrary arrests under this Section in the recent past for posting alleged offensive messages on social media has resulted in huge public outrage against this Section of the IT Act. Voicing concern over recent incidents of people being arrested for posting alleged offensive messages on websites, the Supreme Court has agreed to hear a PIL seeking amendment to the Information Technology Act.
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The recent controversy The Section 66 (A) of IT Act gathered the public attention and became an issue of controversy when two young girls were arrested in Mumbai. One of these girl was arrested for questioning on Facebook the shutdown in Mumbai after leader Bal Thackeray's death, which was 'liked' and shared by the other girl, who was also arrested. The police invoked section 66A of the Information Technology (IT) Act against these young women. Use of authority against a person for expressing an opinion on a restricted-access social networking site is arbitrary in nature and gross abuse of authority. The girl was not slandering anybody, nor was she promoting hatred towards any community. She was merely expressing the view that there was no need for Mumbai to be shut down because a leader had died. A section of society (the Shiv Sainik in particular) may not agree with this view, but there certainly was no criminality involved in it. What is even more bizarre is that another girl was arrested merely for indicating that she agreed with her friend. The Supreme Court in various cases regarding the freedom of speech has held that fundamental right to freedom of expression protects not merely ideas that are accepted but also those that offend shock or disturb the State or any sector of the population. What is Section 66 (A) of IT Act? Section 66 (A), which is a bailable offence and provides for a jail term of up to three years, makes it an offence to send, by means of a computer resource or communication device, any information which is grossly offensive, menacing, causes annoyance or hatred. 66 A is related to Punishment for sending offensive messages through communication service, etc. Any person who sends, by means of a computer resource or a communication device,any information that is grossly offensive or has menacing character; or any information which he knows to be false, but for the purpose of causing annoyance, inconvenience, danger, obstruction, insult, injury, criminal intimidation, enmity, hatred, or ill will, persistently makes by making use of such computer resource or a communication device, any electronic mail or electronic mail message for the purpose of causing annoyance or inconvenience or to deceive or to mislead the addressee or recipient about the origin of such messages shall be punishable with imprisonment for a term which may extend to three years and with fine. Explanation: For the purposes of this section, terms Electronic mail and Electronic Mail Message means a message or information created or transmitted or received on a computer, computer system, computer resource or communication device including attachments in text, image, audio, video and any other electronic record, which may be transmitted with the message. Core Issue The phraseology of Section 66A of the IT Act, 2000 is so wide and vague and incapable of being judged on objective standards, that it is susceptible to wanton abuse and hence falls foul of Article 14, 19 (1)(a) and Article 21 of the Constitution. Currently, a police station in-charge or an inspector can register a case under the said provision. Other cases involving misuse of Section 66 (A) of IT Act:
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April 2012 incident, when a professor of chemistry from Jadavpur University in West Bengal, Ambikesh Mahapatra, was arrested for posting a cartoon concerning a political figure on social networking sites. Arrest of businessman Ravi Srinivasan in October 2012 by the Puducherry Police for having made a allegation on twitter against a politician from Tamil Nadu Arrest of two Air India employees, V Jaganatharao and Mayank Sharma, by the Mumbai Police under the for posting content of Facebook and Orkut against a trade union leader and some politicians Assem Trivedi, the famous cartoonist arrested misusing Section 66 (A) of IT act along with the sedition charges. New guidelines for Section 66 (A) of IT Act: The government has issued fresh guidelines in the backdrop of Public outrage against the Section 66 (A) of IT Act. The following are the guidelines: A police officer no less than the rank of DCP can sanction prosecution. In metropolitan cities, such an approval would have to be given by officers at the level of Inspector General of Police (IGP). Only officers of these ranks will be allowed to permit registration of a case for offences under the Information Technology (IT) Act relating to spreading hatred through electronic messages in a bid to prevent the misuse of the legislation. RBI sets up supervisory colleges for SBI, ICICI The RBI has for the first time established the Supervisory College for cross border supervision of State Bank of India (SBI) and ICICI Bank. What is the role of Supervisory College? The main role of the supervisory college, comprising local and international regulators, is to keep lenders aware of the latestglobal regulations and to evaluate their worthiness for global operations. This concept was suggested by Basel Committee for Banking Supervision (BCBS) October 2010. Supervisory college will help in reducing supervisory overlap and filling in supervisory voids for better supervisory co-operation articulated in Basel-2 framework. Why only for these two banks? SBI is the largest bank in the country with maximum foreign officers among Indian banks. ICICI Bank is the largest private sector bank, which also have a considerable presence overseas. Who are the supervisors for these banks? SBI to have 9 host country supervisors which are: Bangladesh Bank, Central Bank of Bahrain, National Bank of Belgium, Dubai Financial Services Authority, Financial Services Authority (London), Federal Financial Services Authority (BaFin), Bank of Mauritius, Nepal Rastra Bank, and Monetary Authority of Singapore. ICICI Bank to have 7 host country supervisors which are:
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Central Bank of Bahrain, National Bank of Belgium, Dubai Financial Services Authority, Financial Services Authority (London), BaFin, Bank of Russia and Monetary Authority of Singapore. Direct Cash Transfer Scheme In a major initiative to check corruption and pilferage of subsidised items, the government of India is launching an ambitious scheme for direct electronic transfer of cash to beneficiaries that is expected to cover one quarter of households of the country. Prime Minister Manmohan Singh has set up an architecture comprising a ministerial committee under him besides a few other panels which would ensure time-bound implementation of the project leveraging the Aadhar scheme. The Government spends a huge amount of Rs 3,25,000 crore annually on subsidies and the new scheme is intended to check corruption and pilferage of subsidised items including diesel, LPG and besides leakages in other schemes like MNREGA, pension and scholarships. "In a move to cut down wastage, duplication and leakages and enhance efficiency, the Prime Minister has given a major push to transfer individual benefits from the government directly into the bank accounts of beneficiaries," a PMO statement said. "This is to be done in fast-track, accelerated mode to be achieved in a time-bound manner. The idea is to move to a completely electronic cash transfer system for the entire population," it said about the scheme. The amount of cash to be transfered electronically to the beneficiaries is to be worked out. Against the backdrop of corruption and pilferage in various schemes, the government has been thinking about direct cash transfers to genuine beneficiaries to plug leakages as it is expected to bring down the subsidy burden. The issue of direct cash transfers was discussed at the meeting of the Planning Commission held earlier this month to finalise the 12th Plan as pilot projects have been successful in some states like Chhattisgarh, Andhra Pradesh, Karnataka, West Bengal, Tamil Nadu and Punjab. There will also be sub-committees like Cash Transfer Mission to work out technological, financial and banking aspects. Another sub-committee Electronic Benefit Transfer (EBT) will work out data bases, transfer rules, controls and audits, etc. The beneficiaries will include poor people. Of them, the Unique Identity (UID) Mission has already enlisted 200 million people and the number is expected to go up to 600 million in the next six months, an official in the PMO said. The programme will initially cover scholarships, pensions and unemployment allowances and later MNREGA and Public Distribution Schemes. The programme is inspired by such successful schemes existing in countries like Brazil and Mexico and cities like New York and Washington. Such a scheme in Brazil covers 25 per cent of the population, involving 11 million households and 46 million people.
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The Prime Minister has set up the architecture for cash transfers in order to speed up activity and ensure that the shift to cash transfers is rolled out rapidly, the statement said. The committees and sub-committees will work on and finalise all operational and implementation details relating to the design and operation of the transfer system, it said. "There is a lot of work needed to have a smooth roll-out and has to be done in a mission mode with multiple agencies acting in a coordinated manner," the statement said while explaining reasons behind setting up various sub-committees. "A Cash Transfer System can be used for transferring cash benefits such as NREGA wages, scholarships, pensions, income support of other types and health benefits," the PMO statement said."Electronic Transfer of Benefits (ETB) is a simple change as the transfers are already taking place and the only modification that would be involved is a movement from a paper based, cashdriven system to an electronic direct transfer system," it said. "Cash Transfer System would improve targeting, reduce corruption, eliminate waste, control expenditure and facilitate reforms," it said. The cash transfer scheme is aimed at bringing about reforms in the Public Distribution Scheme. The programme is inspired by such successful schemes existing in countries like Brazil and Mexico and cities like New York and Washington. "With the rapid rollout of Aadhar, now covering 20 crore people and rapidly growing to 60 crore, and with the National Population Register covering the other half, it is possible to move to a system of transferring cash benefits directly to the poor," the statement said. The National Ministerial Committee, to be headed by the Prime Minister, will include Ministers of Finance, IT, Social Justice, HRD, Minorities, Labour, Health, Food, Petroleum and Natural Gas, Fertilizers and Deputy Chairman of the Planning Commission. Besides, there will be a National Executive Committee comprising Secretaries of ministries concerned and it will ensure adherence to timelines and sort out any hitch in the roll-out of the programme. INTERNATIONAL AFFAIRS India, Pak talk towards resolution of Sir Creek Issue India and Pakistan recently concluded a meeting with an aim to resolve Sir Creek dispute. Besides, issues on Siachen and Kashmir are other territorial troubles b/w the two nations were also discussed.

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Both countries agreed on certain issues including: De-linking maritime boundaries from land. Marking from seaward to the point where both these sides agree. Declaring non-defined area (Sir Creek and the approaches) as free zone or the maritime sensitive zone, or turn the area into the a jointly administered maritime park. Sir Creek Issue Sir Creek: It is 96 km narrow strip of water in the Rann of Kutch marshlands. The creek, which opens up into the Arabian Sea, divides the Kutch region of the Indian state of Gujarat with the Sindh province of Pakistan. It is locally called Baan Ganga. Dispute: it is a bone of contention b/w India and Pak. The major issue over Sir Creek is about understanding of the maritime boundary b/w the Kutch and the Sindh. The region remained part of British India before Indias independence. After partition of 1947, Sindh went to Pakistan and Kutch remained with India. Why so much fight for this region b/w India and Pakistan? Little military value but immense economic value Region is rich in oil and gas below the sea bed With Creek as reference, maritime boundaries will be which will in turn determine the limits of Exclusive Economic Zones (EEZs) and continental shelves. EEZs extend to 200 nautical miles (370 km) and can be subjected to commercial exploitation. The demarcation would also prevent the inadvertent crossing over of fishermen of both nations into each others territories. What Pakistan says: Pakistan lays claim to the entire creek as per paras 9 and 10 of the Bombay Government Resolution of 1914 inked b/w the then Government of Sindh and Rao Maharaj (the ruler of the princely state of Kutch).

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Although Pakistan doesnt challenge the 1925 map, it holds that the Thalweg Doctrine in International Law is not relevant in this case as it only holds for bodies of water that are navigable, which the Sir Creek is not. What India says: India supports its stance by citing the Thalweg Doctrine in International Law. India rejects the Pakistani stance by maintaining the fact that the creek is navigable in high tide, and that fishing trawlers use it to go out to sea. How Pakistan looses if the boundary line is demarcated according to the Thalweg principle? The Thalweg principle states that river boundaries between two states may be, if the two states agree, divided by the mid-channel. If the boundary line is demarcated as per the Thalweg principle, Pakistan stands to lose a substantial share of the territory that was historically part of the province of Sindh. Submitting to Indias position would also lead to the shifting of the land/sea terminus point several km to the detriment of Pakistan, leading in turn to a loss of several thousand square km of its EEZ under the UN Convention on Law of the Sea. Maldives Airport Company Limited takes over airport operations from GMR Maldives' state-run MACL tonight took over the operations of the Ibhrahim Nasir International airport from GMR after the Indian infrastructure major lost a week-long legal battle over the "unilateral" termination of its $511 million airport modernisation contract. There would be three-week transition period during which GMR and state-run MACL will work together. Terminating the $511 million contract with GMR on November 27, Maldivian government had given time till tonight to the Bangalore-based firm to handover the airport operations. The handover took place a day after the Singapore Supreme Court ruled that Maldives government has the "power to do what its wants including expropriating the airport", dealing a severe blow to GMR which had earlier got a temporary reprieve with the Singapore High Court staying the termination. The contentious issue saw various twists and turns both on legal and diplomatic fronts with India
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expressing its strong displeasure over the "unilateral" decision of termination and had conveyed that the move will have an adverse impact on the bilateral ties. Top GMR officials including Kiran Kumar Grandhi, Business Chairman - Urban Infra & Highways, who is also GMR chairman G M Rao's son had met with Maldives President earlier in the day. Meanwhile the GMR said in a statement that "GMR Maldives Internal Airport Limited (GMIAL) has been assured that as a result of this takeover, all its employees, suppliers and other interested parties will not be put to any inconvenience. 21st ASEAN and related Summits The 21st ASEAN Summit, with the theme of ASEAN: One Community, One Destiny held in Phnom Penh, on 18th November 2012, was chaired by Samdech Akka Moha Sena Padei Techo HUN SEN, Prime Minister of the Kingdom of Cambodia. ASEAN has 10 members Cambodia, Vietnam, Thailand, Laos, Myanmar, Indonesia, Malaysia, Singapore, the Philippines and Brunei. The Summit provides a valuable opportunity for leaders to engage on key strategic, political and economic issues of common concern, with the aim of promoting stability and economic prosperity in the region. Major Issues discussed in the Summit: Maintaining ASEAN Community peace and security Focusing on bruising territorial rows Human rights pact Deadly ethnic unrest in Myanmar Disputes with China over competing claims to the strategically vital South China Sea ASEAN and China: Over South China Sea China insists that it has sovereign rights to nearly all of the sea, including waters close to the coasts of its Asian neighbors. ASEAN members Vietnam, the Philippines, Malaysia and Brunei, as well as Taiwan, also have sometimes overlapping claims to the sea The ASEAN Summit appealed to China to begin top-level talks over the territorial disputes that involve members Vietnam, Malaysia, the Philippines and Brunei. ASEAN expressed its readiness to begin formal and official talks on a legally binding code of conduct aimed at easing tensions in the South China Sea as soon as possible.
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Ten years ago, China and the ASEAN countries signed the Declaration on the Conduct of Parties in the South China Sea (DOC) and reached a series of important principles and consensus. China has said that it wanted to continue with the current framework of lower-level negotiations that were agreed in this framework. However some ASEAN countries have complained that the DOC is not legally binding, and has not prevented China from aggressive diplomacy. ASEAN-India Summit The 10th annual ASEAN-India Summit was held on the sidelines of the ASEAN Summit. India''s Dialogue Partnership with the ASEAN countries is one of the cornerstones of its Look East Policy. India sees this partnership as a step to further economic growth and prosperity, peace and stability in the region. ASEAN-India trade in 2011-12 reached USD 79.3 billion, crossing the target of USD 70 billion by 2012 set in 2009. Both have a Free Trade Agreement (FTA) in goods, which was signed in 2009 and which became fully operational in August 2011. However the FTA in goods covers only 80 per cent of tariff lines compared with 90 per cent found in ASEANs FTAs with other countries. India has agreed to finalise the Free Trade Agreement (FTA) in services and investment before next month. India will conclude the agreement on trade in services and investment promotion before the ASEAN-India commemorative summit in Delhi in December this year. India had initially sought a more liberal visa regime for its professionals in areas like education, health, nursing, information technology, architecture and chartered accountancy compared to what ASEAN has offered to New Zealand and Australia in its FTA with the two countries. ASEAN has offered longer visa permits and other qualification relaxations to professionals from Australia and New Zealand. India is now willing to accept similar relaxations for Indian nationals. The India-Myanmar-Thailand highway is supposed to be operational by 2016. This will open the physical connectivity from North Eastern Indian States to South East Asia. India is also exploring an alternative route through central or north Myanmar to connect Guwahati to Hanoi. East Asia Summit The East Asia Summit (EAS) is a forum held annually by leaders of, initially, 16 countries in the East Asian region. Membership expanded to 18 countries including the United States and Russia
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at the Sixth EAS in 2011. EAS meetings are held after annual ASEAN leaders meetings.East Asia Summit (EAS) was held one day after the ASEAN Summit. Leaders from the 10 ASEAN members and 8 other countries Australia, China, India, Japan, New Zealand, Russia, South Korea and the United States participated in the Summit. The following were the important discussions that took place this year: Discussions on cooperative efforts at improving maritime security: EAS members discussed challenges including territorial and maritime disputes, piracy, trafficking in illicit materials and natural disasters. Launch of negotiations for a free trade agreement among ASEAN AND SIX PARTNERS: Negotiations on a Regional Comprehensive Economic Partnership (RCEP) were launched at the EAS. If passed, RCEP will see tariffs lifted and investment rules across the Asia-Pacific region liberalised. In addition to the 10 ASEAN members, Australia, China, India, South Korea, Japan and New Zealand are participating in the talks. The RCEP was first discussed at the 19th Asean Summit in November last year. ASEAN member states adopted the framework for the RCEP, which sets out the general principles for broadening and deepening ASEANs engagement with its free trade agreement partners. The RCEP would be the largest regional trading arrangement in the world to date. It could eventually lead to the creation of an integrated market that spans 16 countries with a combined market population of more than 3 billion people and a combined GDP of about US$19.78 trillion based on 2011 figures. Announcement of a U.S.-Asia Pacific Comprehensive Partnership for a Sustainable Energy Future: Under this initiative, the U.S. will extend energy-related cooperation in multilateral and bilateral channels, focusing on providing technical assistance and financing for renewable, energy interconnectivity and markets, natural gas, and sustainable development. India-Japan sign currency swap accord to enhance bilateral trade Central banks of India and Japan (The Reserve Bank of India (RBI) and the Bank of Japan (BoJ) respectively) signed a 3-year Bilateral Swap Arrangement (BSA). How agreement will help?
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Help in addressing short-term liquidity problems Supplementing the existing international financial arrangements Strengthening bilateral trade b/w Japan and India Aid in ensuring financial market stability This agreement will enable both the countries to swap their local currencies (i.e., either Japanese yen or Indian rupee) against US dollar for an amount up to $15 billion. Previously, the agreement b/w the two nations was limited to $3 billion for a period of three years from June 2008 to June 2011. Personalities in News Indra Kumar Gujral Former Pime Minister of India, passed away. He was 92. I.K.Gujral (December 4,1919 November 30, 2012) Born in Punjab, in British India. Participated in Indias struggle for freedom. Left the Indian National Congress party in the mid-1980s and joined the Janata Dal. Became the 12th Prime Minister of India from April 1997 to March 1998. Second PM to govern exclusively from the Rajya Sabha, first being his immediate predecessor H.D. Deve Gowda. Key contributor to Indias foreign policies. Gave a set of five principles famously known as Gujral Doctrineto guide the conduct of foreign relations with Indias immediate neighbors. 5 Principles of Gujral Doctrine

1. With neighbors like Bangladesh, Bhutan, Maldives, Nepal and Sri Lanka, India does not ask for reciprocity, but gives and accommodates what it can in good faith and trust.
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2. No South Asian country should allow its territory to be used against the interest of another country of the region. 3. No country should interfere in the internal affairs of another. 4. All South Asian countries must respect each others territorial integrity and sovereignty. 5. They should settle all their disputes through peaceful bilateral negotiations. According to Gujral, these 5 principles, conscientiously adhered to, would achieve a fundamental remodeling of South Asias regional relationships, including the strenuous Indo-Pak relationship. Further, the implementation of these principles would generate a climate of close and mutually benign cooperation in the region, where the weight and size of India is regarded positively and as an asset by these nations. However, his doctrine invited severe criticism following a series of Pakistan-sponsored terrorist incidents throughout the 2000s, culminating with the 2008 Mumbai attacks. Sachin Dev Pavithran Obama named a visually impaired Indian-American Sachin Dev Pavithran to head an independent US agency devoted to people with disabilities. Sachin Dev Pavithran will soon become a member of the Architectural and Transportation Barriers Compliance Board, the agency which is also known as the Access Board. The Access Board was established in 1973 to ensure design standards across the US to enable access to the physically impaired. Architect Oscar Niemeyer Architect Oscar Niemeyer, who recreated Brazils sensuous curves in reinforced concrete and built the capital of Brasilia on the empty central plains as a symbol of the nations future died on December 5. In works from Brasilias crown-shaped cathedral to the undulating French Communist Party building in Paris, Niemeyer shunned the steel-box structures of many modernist architects, finding inspiration in natures crescents and spirals. His hallmarks include much of the United Nations complex in New York and the Museum of Modern Art in Niteroi, which is perched like a flying saucer across Guanabara Bay from Rio de Janeiro.
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Ranjit Sinha Ranjit Sinha, senior IPS officer from 1974-batch Bihar cadre, has taken the charge as the new CBI Director. Guardsman Jatinderpal Singh Bhullar An Indian-origin Sikh is all set to be the first person guarding the Buckingham Palace in his turban after being given the privilege not to wear the mandatory bearskin on ceremonial duties. Guardsman Jatinderpal Singh Bhullar, 25, who joined the Scots Guards this year, has been given permission to wear a turban when on guard duty outside Buckingham Palace, breaking hundreds of years of tradition. The regiment traces its origin back to 1642 and its soldiers have worn bearskins on parade since 1832. Bhullar is based at Wellington Barracks in Birdcage Walk. The base is used by soldiers from the Scots Guards' F Company, who are responsible for public duties and guarding the Queen. Rukhsana Kousar On September 27, 2009, 20-year-old Rukhsana Kousar of upper Kalsi, a Class X dropout, did what no other woman even a man, perhaps had done ever since the insurgency broke out around her birth in 1989. With an axe, she hacked to death a Lashkar-e-Taiba terrorist Abu Usama, forcing two other armed intruders to flee from her home. She became the first National Bravery Award recipient from Rajouri district of Jammu and Kashmir. Four months later, on Republic Day, Rukhsana and her younger brother, Aijaz, were conferred the countrys second highest gallantry award in peace time, Kirti Chakra, for combating what their uncle Waqalat Hussain and aunt Kulsum Parri had perceived as inevitable death. Nobody in the neighbourhood, less than 15 miles from the border with Pakistan-controlled Kashmir, would have imagined an unarmed teenage Pahari girl foiling a kidnapping, killing a militant, snatching away his AK-47 and forcing others in the group to retreat in shame. Sports Keshavan bags gold in Asian Championship Shiva Keshavan of India has won gold medal in luge and has set a new Asian record of 49.590 seconds in the Asian Championship. What is Luge?

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It is a small one- or two-person sled on which one sleds supine (face up) and feet-first. Luge is one of the most dangerous sports in the Olympic games, and the athletes who race down an icy, high-banked track at up to 90 mph (140 km/h). Luge is also an Olympic sport. Team members: Teams of 1 or 2 Participants compete against a timer; the best timer wins the top position. Lugers compete against a timer and are timed to a thousandth of a second, making luge one of the most precisely timed sports in the world. World Womens chess crown goes to Ukrainian Ukrainian Anna Ushenina has claimed the World Women`s Chess Championships, beating Antoaneta Stefanova of Bulgaria in the four-game finals.The match concluded with the same rapid tiebreaker that decided the mens finals earlier this year between Viswanathan Anand and Boris Gelfand. The womens crown reached deadlock when both players arrived at 2-2, after 4 games under normal time control.After draws in the first two blitz games the Ukrainian drew the first blood on Thursday and left Stefanova in a must win situation in the fourth and last game something the 2004 champion failed to do on Saturday.Ushenina, who has not been a favorite, drew the last match and grabbed $ 450,000 prize money in Russias Siberian town of KhantyMansiysk.She will now have to defend her crown next year against Chinese star Hou Yifan, the two-time champion of the world and the winner of FIDE Women's Grand Prix 20112012. Shagun wins two silvers at Asian Shooting C'ship India's Shagun Chowdhary won the silver medal in the womens individual trap event after she fired a total of 83 (64+19) at the 2nd Asian Shooting Championship here. Alhawal Sarah of Kuwait won the gold medal after she shot 84 (61+23) while the bronze went to Sirani Epideh of Iran who fired 78 (64+14). In the Maharaja Yadavinder Singh Memorial Indian Open Shotgun Championships, Federica Caporuscio shot 68 to win the gold medal, whileChaudhary won her second silver of the day with a score of 64. The bronze went to Iranian Sirani Epideh (64). IOC suspends membership International Olympic Committee (IOC) has suspended Indias membership from Olympics. IOC has taken this strict step to stop tainted individual from contesting for top positions of Indian Olympic Association (IOA).
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What is the issue? IOC wants that election for top posts of IOA should be held as per Olympic Charter, which insists that organizing committees for each country remain autonomous and free of government influence. Indias national sports code does not adhere to these requirements, and consequently, a New Delhi court ordered the IOA to hold an election as per governments sports code instead of adhering to the IOCs charter. IOC is against the election of candidates tainted with corruption charges. Individuals like Lalit Bhanot (who was jailed on corruption charges), Abhey Singh Chautala (contesting for president post) is a close ally of former IOA president Suresh Kalmadi are contesting for these positions. Recently, Randhir Singh, incumbent secretary general, calling the elections unfair, withdrew his name from the elections. Manavjit Sandhu wins gold in Asian Shooting India's Manavjit Singh Sandhu won the trap gold medal after he shot 138 (117+ 21) in the Asian Shooting Championship Patial today. The silver was won by Japan's Oyama Shigetaka, who scored a total of 135 (114+21), while Meqland Naser of Kuwait won the bronze scoring 134 (114 +20). Shooters from 17 different countries participated in the event out of which four were in MQS category.The team gold was won by India.Sandhu (117), Prithviraj (112), Anirudh Singh (109) scored a total of 338 to bag the yellow metal.The silver in the men's team event was won by Kuwait's Meqland Naser (114), Al Faihan Abdul Rahman (113) and Aldeehani Fehaid (105).The bronze was won by Japan's Oyama Shigetaka(114), Uematsu Naoyuki (101) and Tekenaka Toshiaki (99). International Phantom Islands mystery resolved. The mystery behind the missing of the Sandy Island in the South Pacific, displayed on the world maps as well as Google Earth but did not really exist, has been claimed to be solved by a researcher. A researcher at Auckland Museum after his investigations claimed that the island had never existed. Origin of the error: The error first crept in 1879, when Australian maritime directory showed the island. These were reported by the masters of a whaling ship from the year 1876.

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Where

was

it

shown

on

the

map?

The landmass in Coral Sea which is shown as the Sandy Island on Google maps as well as Google Earth is apparently somewhere b/w Australia and New Caledonia. The island has now

been removed from the maps. Spaun the artificial brain can pass basic IQ test Scientists in Canada have claimed to have developed worlds most sophisticated, large-scale model simulation of human brain named Spaun which can pass the basic elements of IQ test. SPAUN is Semantic Pointer Architecture Unified Network. Main features: Runs on supercomputer Digital eye for visual input Robotic arm to draw responses 2.5 million simulated neurons facilitating it to do 8 different tasks like copy drawing, counting, question answering, fluid reasoning etc. It has some limitations which are simulated like human brain CHAMP: A Missile which can shut down electronics US aircraft manufacturer Boeing has developed and tested a new missile which uses electromagnetic pulses to target buildings can permanently knock out a countrys electronics without causing any harm to life. During its test when it zapped over the Utah Test and Training Range, discharging electromagnetic pulses on to targets, it permanently shut down their electronics.
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The missile project has been code named Counter-Electronics High Power Microwave Advanced Missile Project (CHAMP). What makes this missile so capable? The missile carries an electromagnetic pulse cannon, which uses a super-powerful microwave oven to produce a concentrated beam of energy which causes voltage surges in electronic equipment, leaving them useless before surge protectors react. World Conference on International Telecommunications World Conference on International Telecommunications (WCIT) in Dubai, United Arab Emirates, from December 3-14, 2012. UN telecommunications body has clarified that the freedom of the Internet will not be controlled. It was declared in the World Conference on International Telecommunications (WCIT-12) in Dubai in order to review the regulations which were introduced in 1988. The conference also included issue about permission of censorship on legal content. Google showed its concern about some proposals according to which the government would be allowed to censor the legal speech or maybe even shut down access to the Internet. It also argued that the ITU (UN agency for information communication technologies) was not the correct institution for addressing the issues of the Internet. COP18 DOHA ROUND The developing countries have expressed grave dissatisfaction with the final texts of proposals that dont set out a clear road map of action in terms of ambitious emission cuts from developed countries or a financial commitment for adaption or loss and damage. The developing countries said they would not be pushed into agreeing to weak outcomes even if they were rushed for time. While strong protests from India and the G 77 plus China led to the principles of equity, shared vision, finances and technology transfer being put back into the long term cooperative action (LCA) track, there is no indication of commitment on funds. The African Group, G 77 plus China and the Alliance of Small Island States (AOSIS) and others said the outcome needed to be balanced with concerns of the developing world. For instance after ministerial consultations, the draft decision on key finance only invites developed country Parties to submit, by the 19th session of the Conference of the Parties, [a year from now], their
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viable pathways for mobilising and scaling up the provision of climate finance from 2012 levels to at least $ 100 billion a year by 2020. In the stocktaking plenary after the texts on the Kyoto Protocol, LCA and the Ad Hoc Working Group on the Durban Platform for Enhanced Action (ADP) were released in the morning, the developing countries, led by China, said they were not satisfactory and that their concerns were not reflected. The text on the Kyoto Protocol leaves much to be desired and it is vague on emission cuts by the developed countries and the period of commitment of the Protocol in the next phase which starts from January 2013. There is a raging controversy over the text of the ADP where issues of equity dont find mention. The U.S. has been arguing that the principles of equity are enshrined in the United Nations Convention on Climate Change (UNFCCC) and there was no need for a specific inclusion here. The big battle is over equity and common but differentiated responsibility and if these have to be included in ADP. The ADP is a subsidiary body that was established in Durban to develop a protocol, another legal instrument or an agreed outcome with legal force under the Convention applicable to all Parties. The ADP is to complete its work as early as possible but no later than 2015 in order to adopt this protocol, legal instrument or agreed outcome with legal force at the twenty-first session of the Conference of the Parties and for it to come into effect and be implemented from 2020. Meena Raman from the Third World Network (TWN) said the feedback from the finance text was very worrying. As for commitments under the Kyoto Protocol, the concern was that the text does not address emission cuts which are at low levels, for instance the European Union (EU) still aims at cutting only 20 per cent of its emissions. The issue of surplus emissions is not addressed, and the length of second commitment to the Kyoto Protocol is left vague - from five to eight years. The tricky zone of intellectual property rights (IPR) in relationship with technology transfer remains vague. It has been one of the most controversial issues in Doha and the U.S. was very clear it didn't want it, Ms. Raman said. As for cutting emissions, the texts propose deep reduction in global greenhouse gases or urge developed countries to increase ambition or set long term goals for emission reduction. Late on Friday night, president of the Conference of Parties (COP) 18 Abdullah Bin Hamid Al
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Hattiyah of Qatar called on countries to focus on ambition and balance which, he said, were the keys to the success of the Doha Climate gateway. Recent reports on GHGs and global warming The climate data from numerous sources conclusively makes the point that we are heading towards calamity. More than a dozen studies made this point just ahead of the climate talks in Doha. A number of scientist have warned that time is running out to avert a climate catastrophe. While they acknowledge that it is still possible to stave off the worst effects of climate change, they note that the window of opportunity is rapidly getting smaller. In November, the World Meteorological Associations (WMO) annual Greenhouse Gas Bulletin indicated that global atmospheric carbon levels are at 391 parts per million, the highest they have ever been in human history. Scientists warn that 350 parts per million is the upper limit for a stable planet. Levels of CO2 have been steadily rising at about 2 parts per million every year for the past decade. Current measurements of atmospheric carbon are 40 percent higher than at the start of the Industrial Revolution. Since the dawn of industrialization in 1750 humans have emitted 375 billion tonnes of carbon dioxide into the atmosphere. The WMO Bulletin indicates that future emissions will make the situation far worse. The US National Oceanographic and Atmospheric Administration (NOAA) contributed to the WMO report by providing data published in their Annual Greenhouse Gas Index (AGGI). Their report stated: Increases in the abundance of atmospheric GHGs since the industrial revolution are largely the result of human activity and are largely responsible for the observed increases in global temperature. On November 12, the Paris-based International Energy Agency (IEA) warned that ongoing reliance on fossil fuels will make it impossible to curtail climate change. They further state that renewable energy is being neglected in favor of coal, oil, and natural gas. In a November 13 press release, Renewable Energy Industry (IWR) indicated that last years GHGs reached a record high. In total, there were 34 billion tons of GHG emissions in 2011, which is 800 million more tons than in 2010. On November 18, the World Bank issued a report suggesting that the climate could warm a full 4 degrees by the end of the century. The study further suggests that we will not be able to avert this
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temperature increase even in the unlikely event that countries fulfill their current emissionsreduction pledges. On November 21, UNEP issued a warning saying that we are on the brink of a climate catastrophe. The UN Environment Programs Emissions Gap Report 2012 indicates that there is a massive gulf between what governments have pledged in terms of GHG emissions and what they are actually doing. To stave off a temperature increase of more than 2 degrees Celsius (3.6 degrees Fahrenheit), nations have pledged to reduce their emissions a total of 44 gigatonnes (Gt) by 2020. However, the UNEP report indicates that if we stay on our current trajectory of increasing emissions, we are likely to see temperature increases of 3-5 C. According to UNEP, the gap between GHG emission reduction pledges and what is actually being done is 8 Gt of CO2 by 2020, which is 2 Gt higher than last years assessment. Also in November, Price Waterhouse Coopers offered its own climate change warning in a report titled Too Late for Two Degrees? According to this study, it may already be too late to keep global temperatures within the scientifically agreed upon upper threshold of 2C. In November, the World Resources Institute (WRI) put forth its own warning in a report titled Global Coal Risk Assessment. As reviewed in this study, proposed coal projects around the world will quadruple the current capacity of all coal-fired plants in the US. The report found that there are 1,199 new coal power plants in the works, totaling more than 1.4 million megawatts of capacity worldwide. On December 2, researchers affiliated with the Global Carbon Project released a report titled, The Challenge to Keep Global Warming Below 2 degrees C. The study concludes that it is becoming increasingly unlikely that we will be able to keep temperatures within acceptable upper limits. Emissions continue to grow so quickly that without immediate action, we will not be able to stay within the upper temperature limit established by scientists. Reports on sea level rise According to a November 27th study, the ocean is rising much faster than predicted by the Intergovernmental Panel on Climate Change (IPCC). A number of scientists are warning that we must act now to address rising sea levels. They indicate that rising sea levels will be disastrous, but they also say that it is still within our power to not only defend against rising tides, but also to reduce the rate at which they rise.

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Rising sea levels not only imperil people, the cost to property and infrastructure amounts to trillions of dollars a year. However, if governments act now, they can significantly reduce these costs. Failure to act soon will cause the costs to increase exponentially. The threat from rising ocean levels will impact millions of Americans, including people in Florida, Louisiana, California, New York and New Jersey. In total, more than half of the US population in more than 285 cities may be at risk. A 2011 study by the International Arctic Monitoring and Assessment Program (AMAP) indicates that driven by warming in the Arctic and the resulting melt of snow and ice, sea levels could rise up to 5 feet by the end of this century. This is more than two and a half times higher than the 2007 projection by the IPCC. Agenda for COP 18 As these studies reveal, the need for science driven governmental policy has never been more urgent. Despite the alarming state of affairs, the agenda for COP 18 is modest at best, with no new emissions targets and little progress expected on a new binding climate deal. The meeting in Doha is scheduled to address a second round of commitments under the Kyoto Protocol, wrap up the Long-term Cooperative Action (LCA) negotiating track and deal with the Durban Platform for Enhanced Action (ADP). Kyoto Protocol and a Second Commitment Period The Kyoto Protocol (KP) is a historic agreement that legally binds developed (or Annex I) countries to emission reduction targets. Out of the 195 signatories to the UNFCCC, 192 have ratified the Kyoto Protocol; the US is a notable exception. One of the advantages to KP is that it includes carbon pricing in the form of cap-and-trade based policy frameworks. The KP is currently the only legally binding mechanism we have to limit international greenhouse gas emissions, but it comes to an end on December 31, 2012. There are efforts underway to secure a second commitment period (KP2), which will start on January 1, 2013. While KP2 has some support including counties in the EU and Australia, there is strenuous resistance from the US, Canada, Russia, Japan and New Zealand. Long-term Cooperative Action (LCA)

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The discussion on LCA includes a broad range of issues including the Green Climate Fund (GCF), the Nationally Appropriate Mitigation Action (NAMA), the New Market Mechanism (NMM) and more recently, the Framework for Various Approaches (FVA). We may see some progress here. Durban Platform for Enhanced Action (ADP) The ultimate goal of the ADP track is a new global climate deal by 2015 which will take effect in 2020. To develop a comprehensive agreement, the ADP needs to define specific targets, goals and actions. One of the primary goals is the establishment of a carbon market infrastructure. It should also address a funding mechanism for developing economies that leverages private sector finance as well as technology transfer and best practices for implementation. Few believe that Doha will succeed in setting the course for the ADP. However, we may see some modest progress on Reducing Emissions from Deforestation and Forest Degradation (REDD). Reducing carbon emissions from deforestation The REDD+ framework is one of the subjects being discussed at COP 18. Clearing forests to make way for agriculture and other uses is responsible for about 20 percent of the worlds greenhouse gas emissions. Despite some initial optimism, the WWF reports that developing and developed countries were at odds after Saturdays meeting about how to verify carbon emissions from forests. This may prove to be less problematic once the financing issue is addressed as many of the verification issues can be solved with appropriate funding. The Equity problem Throughout the course of their industrial development, wealthy countries have emitted vast quantities of GHGs, as a consequence, they have a historical responsibility for climate change. Countries that have undergone fossil fuel dependent development are also in a better economic position to contribute to climate solutions. Current positions from many wealthy countries including the U.S. make little or no allowance for their historical responsibilities.

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Aichi Biodiversity Targets

Strategic Goal A: Address the underlying causes of biodiversity loss by mainstreaming biodiversity across government and society Strategic Goal B: Reduce the direct pressures on biodiversity and promote sustainable use Strategic Goal C: To improve the status of biodiversity by safeguarding ecosystems, species and genetic diversity Strategic Goal D: Enhance the benefits to all from biodiversity and ecosystem services Strategic Goal E: Enhance implementation through participatory planning, knowledge management and capacity building

Palestinian Statehood at the UN The creation of an independent Palestine, side by side with Israel, is broadly supported internationally, formally backed by successive U.S. administrations, and enjoys popular support in Israel, according to polling data. Yet efforts by Palestinian authorities to gain statehood recognition at the UN have generated controversy. Following a failed bid to achieve full UN membership in 2011, Palestinian Authority (PA) President Mahmoud Abbas managed to successfully push through a bid for formal recognition of non-member state status for Palestine at the General Assembly on November 29, 2012. The vote comes as peace negotiations with Israel remain stalled and amid a cease-fire between Israeli forces and the Hamas movement, which controls Gaza. Analysts say its new status will bestow the PA with little more than a symbolic victory and could trigger diplomatic and financial retribution from the United States and Israel. The two longstanding allies both oppose the bid on grounds that it would undercut the formal peace process and could incite regional unrest.

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Why did Abbas seek non-member state status at the UN? The decision to seek non-member state status for Palestinean elevation from its standing as a permanent observer "entity"follows a failed bid to gain full UN membership in 2011. Palestine was unable to garner enough support in the UN Security Council, and faced the threat of veto from the United States. In a September 2011 speech, Abbas said he was moved to act by a lack of progress in the peace talks and ongoing Israeli settlement-building in the West Bank and East Jerusalem, which he terms illegal. The Palestinian territories should "be represented in [their] natural borders," Abbas said. The Palestinians seek recognition on the 1967 borders, including Gaza, the West Bank, and East Jerusalem. Since that speech, peace negotiations with Israel have remained frozen, Jewish settlements in the West Bank have grown, and internal divisions continue to plague the Palestinian Authority, which remains split between the Fatah-controlled West Bank and Hamas-controlled Gaza Strip. Economic and fiscal conditions (FT) in Palestinian territory have continued to deteriorate. The Palestinian economy is greatly dependent on foreign aid, and many economists, including those at IMF, say that growth requires Israel's easing of security restrictions that encumber the flow of commerce. In the days leading up to the 2012 General Assembly, the Palestinian leadership revealed it was considering exiting the 1993 Oslo Accords, including the Paris Protocol, which governs economic relations with Israel. The PA claims that Israel has undermined all attempts to revive the peace process. While Israel has supported a resumption of talks without preconditions, the PA has demanded a suspension of Jewish settlement construction before discussions resume.

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In his 2012 speech to the General Assembly, Abbas said in the latest bid for enhanced UN recognition, "we do not seek to delegitimize an existing statethat is Israel; but rather to assert the state that must be realizedthat is Palestine." A draft of the UN General Assembly resolution, obtained by the Associated Press, cites the "urgent need for the resumption and acceleration of negotiations within the Middle East peace process" for "a just, lasting and comprehensive peace settlement" that resolves all outstanding core issues, particularly the Palestine refugees, Jerusalem, settlements, borders, security and water. What is the UN process for granting non-member state status? An applicant state needs to obtain a simple majority vote of the 193 members in the General Assembly to win non-member state standing. Unlike a proposal for full UN membership, the Security Counciland the threat of vetois absent from the process. On November 29, the UN passed a vote to recognize Palestine as a non-member observer state. The vote passed 138 to 9 with 41 abstentions. What is the Palestinian history at the UN? The Palestinian Liberation Order won observer status in 1974, a position which is not formally provided for in the UN Charter, but relies entirely on precedent. As such, the rights and privileges of observers vary case by case. Varieties of UN observers include "entities" (like Palestine), intergovernmental organizations, national liberation movements, and non-member statesthe status pursued by the PA, and currently only held by the Vatican. As an observer, the PLO was invited to participate in General Assembly sessions and conferences of other UN bodies. In 1988, the designation of "Palestine" officially replaced the "Palestinian Liberation Order" within the UN system. In 1998, the General Assembly extended Palestine privileges that had previously been exclusive to member states, including the right to participate in the general debate at the beginning of each General Assembly, and the right to cosponsor resolutions. According to the UN, the decision "upgraded Palestine's representation at
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the UN to a unique and unprecedented level, somewhere in between the other observers, on the one hand, and Member States on the other." What countries support Palestinian statehood? More than 120 countries diplomatically recognize Palestinian statehood (as declared by the PLO in 1988), a bloc that would seem to ensure a successful vote at the General Assembly, if and when this occurs. However, these numbers may be overly optimistic, writes Yezid Sayigh for al-Monitor, as "much depends on the European position." Unlike 2011, when the EU promised to support Palestine in a non-member state bid, Palestinian officials say some European nations have come out strongly opposed to the campaign in 2012, perhaps as a gesture to Washington. However, in the end, many EU countries broke with the White House and voted in favor of the motion. What countries oppose this effort? In addition to Israel, the United States has been a leading opponent of the Palestinian statehood bid at the UN. In a speech in May 2011, President Barack Obama affirmedsupport for a twostate solution based on 1967 borders, but U.S. officials object to the UN bid as premature and damaging to the negotiating process. Direct peace negotiations between Israel and the PA collapsed in September 2010 when Israeli Prime Minister Benjamin Netanyahu declined to extend a moratorium on the expansion of Jewish settlements in the West Bank. President Obama reiterated the U.S. stance in his address to the UN General Assembly in September 2011: "One year ago, I stood at this podium and I called for an independent Palestine. I believed then, and I believe now, that the Palestinian people deserve a state of their own. But what I also said is that a genuine peace can only be realized between the Israelis and the Palestinians themselves." Days ahead of the vote in November 2012, State Department spokeswoman Victoria Nuland said Washington viewed the Palestinian bid at the UN as a mistake and would oppose the move. "We do not think that this step is going to bring the Palestinian people any closer to a state," she told reporters.
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After the vote, Israel and the United States criticized the decision, with U.S. Ambassador to the UN Susan Rice calling it "unfortunate and counterproductive," as well as placing"further obstacles in the path of peace" (CBS). Are Palestinians united behind this effort? The PA is the official governing body of the Palestinian people, led by the Fatah faction. Officials in the militant Hamas group, which ousted Fatah forces to take control of the Gaza Strip in 2007, initially rejected the PA's initiative as a unilateral measure. They did not support the move since it would concede parts of "historic Palestine" and "infringe" upon the right of return for the hundreds of thousands of Palestinian refugees. But days ahead of the November 2012 UN vote, senior Hamas officials said they welcomed the move by Abbas (TheNational). Yet one top official, Izzat Al Rishq, emphasized Palestinians' claims over the occupied territories as well as Israel. How would a UN vote affirming non-member state status affect life inside Palestine? Very little, in terms of tangible changes resulting directly from the UN decision. Statehood would be a symbolic victory for the PA, but it would lack any formal recognition of sovereignty, borders, and other such considerations normally attendant with state status. Acquiring these things from Israel would require direct negotiations even if the General Assembly endorsed nonmember statehood. Unintended consequences of UN recognition could include heightened tensions and possibly violence in the Palestinian territories. Any cut to foreign aid, on which the PA is heavily dependent, would exacerbate the fiscal crisis in Palestinian territories. In past years, the U.S. Congress has sent strong signals (NationalJournal) that hundreds of millions of dollars in U.S. aid, which has helped prop up institution building and security forces, could be curtailed. In October 2011, the United Nations Educational, Scientific, and Cultural Organization (UNESCO) voted to recognize Palestine as a full member, causing the United States to withdraw roughly $60 million in financial support for the organization.
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Washington has donated more than $4 billion in aid to the Palestinians since the mid-1990's in order to combat terrorism, promote stability and prosperity, and meet humanitarian needs. The Obama administration has requested roughly $440 million in aid for FY2013, according to the Congressional Research Service. How would elevated Palestinian statehood affect the Israeli-Palestinian peace process? UN recognition of Palestine based on pre-1967 borders may further legitimize the Palestinian cause and help marshal greater support from the international community. But it would also likely ratchet up tensions between the two sides. In response to the bid, Israel could delay the transfer of tax revenues to the PA for several months, as it has done before, and could increase restrictions on the movement of Palestinians within the West Bank, further impeding economic (and social) activity. U.S. diplomats fear such actions could precipitate violence and a cessation of security cooperation between Israel and the PA. Such a scenario could lead to a collapse of the PA and throw the stewardship of the West Bank into Israeli hands. There is also concern in Israel that non-member state status would empower Palestinian officials to seek recourse at the International Criminal Court. In theory, Palestinians could use the forum in order to bring action against Israel for what they view as violations of international law regarding their treatment in the West Bank and Gaza, including war crimes and the construction of Jewish settlements. In turn, Israel could ask for the prosecution of the Palestinian side over rockets fired from Gaza. Punitive sanctions from Israel could also jeopardize its long-standing peace with Egypt, where a fragile transitional government struggles to maintain security.

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What's at stake for the United States? The U.S. opposition to the PA's renewed bid could alienate the Arab and Islamic world on an issue of central political significance and at a time of great political upheaval. The opposition could isolate Washington, exposing it to criticisms of hypocrisy (e.g., supporting a rebellion in Libya and Egypt, but opposing the self-determination of Palestinians) and impair its ability to mediate the Israeli-Palestinian peace and cultivate alliances with nascent Arab democracies. SCIENCE AND TECHNOLOGY Messenger discovers ice on Mercurys north pole NASAs Mercury-orbiting probe, Messenger, has confirmed a vast amount of ice at the north pole on Mercury, the closest planet to the Sun. Mercurys north pole is always in shadows. The South pole is also believed to harbor ice but there is little data to support it. Messenger which was launched in 2004 orbits much closer to the north pole than the south. As per scientists, the water almost certainly came from impacting comets, or possibly asteroids. Ice is found at the surface, as well as buried beneath a dark material, likely organic. Dr. Joseph Murray who performed first kidney transplant passed away American plastic surgeon Dr Joseph Murray (93), the surgeon who operated the first successful kidney transplant and later won a Nobel Prize for his work. Murray along with his team carried out the first human organ transplant in 1954, taking a kidney from one identical twin and giving it to his twin brother. Later, Murray also did research to find ways of suppressing a patients immune response to prevent it from rejecting foreign tissue. He became a co-winner of the Nobel Prize for Physiology or Medicine in 1990.

Key immune system gene could subdue HIV


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A gene that protects the human embryo could possibly treat and subdue chronic infections such as HIV, hepatitis and tuberculosis.The newly-discovered gene, called Arih2, is basic to the immune system making critical decisions about whether to switch it on during an infection or not.Marc Pellegrini, Greg Ebert and colleagues from the Walter and Eliza Hall Institute of Medical Researchs infection and immunity division, Australia, with collaborators from the University of Toronto, Canada, led the research, the journal Nature Immunology reported. Infectious disease specialist Pellegrini said that Arih2 is found in dendritic cells, the sentinels of the immune system that play an essential role in raising the alarm about the presence of foreign invaders in the body, according to a Walter Eliza Institute statement.Arih2 is responsible for the most fundamental and important decision that the immune system has to make whether the immune response should be initiated and progressed or whether it should be switched off to avoid the development of chronic inflammation or autoimmunity, Pellegrini said. If the wrong decision is made, the organism will either succumb to the infection, or succumb to auto-immunity.During evolution, some organisms have evolved ways of exhausting our immune system to the point, where the immune system just switches off, and this is what happens in HIV, Hepatitis B and tuberculosis, he said. These organisms counter the immune response exhausting T cells, which are stimulated over and over again by the infection and becoming exhausted or paralysed, said Pellegrini.Ebert said the research team was now looking at the effect on the immune response of switching off Arih2 for short periods of time during chronic infections. Art, Literature and Culture 55th Grammy Awards The Grammy Awards seem to have picked up the habit of playing up Pandit Ravi Shankars family life. While in 2003, the awards given to Geethali Norah Jones Shankar alias Norah Jones highlighted the tenuous, on-off relationship between Ravi Shankar and his daughter, this year, the 55th Grammy Awards have directly pitted Pandit Ravi Shankar against another daughter Anoushka Shankar in the World Music category. The nominations were announced in Nashville on Wednesday. The awards ceremony would take place on February 10, 2013 at Staples Centre, Los Angeles. Three-time winner Pandit Ravi Shankar has been nominated for his album The Living Room Sessions Part 1, the first of two releases he recorded with his long-time tabla accompanist Tanmoy Bose in the living room of his Encinitas, California, home. It has four tracks Raga
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Malgunji, Raga Khamaj, Raga Kedara and Raga Satyajit. The last is dedicated to Satyajit Ray, for whose Apu trilogy Ravi Shankar composed music. For Anoushka, it is the third nomination. Her album Traveller (2011) traces the links between Indian music and Spanish flamenco music. Ravi Shankar (92) became the first Indian to win a Grammy in 1967 for West Meets East with violinist Yehudi Menuhin in the Best Chamber Music Performance category.31-year old Anoushka had been nominated in the World Music Category in 2003 for the Live at Carnegie hall , the youngest ever and first woman nominee in this category; and in the Best Contemporary Music Category for RISE.

DECEMBER 10TH TO 17TH


NATIONAL

Karwar to get Indias largest Naval base Following the Centres nod for Phase-IIA of Project Seabird, Karwar in coastal Karnataka is set to become the countrys biggest Naval base by 2025. In fact, the official sanction granted last week for the latest phase of the ambitious project--with a whopping `13,500 cr outlay-- has the potential to transform the region into the countrys most important Naval base. It will also be home to the Navys submarine fleet in addition to having berthing facilities to accommodate as many as the 50-odd frigates. The base will enhance the Navys operational flexibility and strategic advantage in the Indian Ocean region, including in anti-piracy efforts. Actually, the move to set up an exclusive Naval base at Karwar is intended to decongest Mumbai on the West coast and Visakhapatnam on the East coast, as the two ports also have commercial shipping operations. Also, the decision was prompted by Mumbais proximity to Pakistan and the Islamic nations growing missile arsenal. Karwar will also get a new Naval air station from where maritime planes and helicopters, including combat aircraft, can operate.These apart, Karwars existing Railway station will be upgraded and expanded to have a siding for the Navys use.
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The Naval base, when completed, will have over one lakh personnel working there, apart from their families living in an upcoming residential township. The Karwar base has the facility to berth INS Vikramaditya, the erstwhile Admiral Gorshkov aircraft carrier, which is scheduled to join the Navy in the last quarter of 2013. The expansion will allow it to be home to two more aircraft carriers later, the official added. The 45,000-tonne Vikramaditya is currently undergoing refit in Russia and its delivery schedule was revised in September. Apart from the one for Vikramaditya, Karwar will get two more jetties under Phase-IIA to berth the under-construction 40,000-tonne Indigenous Aircraft Carrier (IAC), to be called INS Vikrant, and its follow-on warship, which could weigh around 60,000-tonnes.It will also host the Scorpene submarines, once they are built by the Mumbai-based Mazagon Docks Limited (MDL), and their follow-on submarines.By the end of Phase-IIA in 2018, Karwar will be home to about 30 of the Navys 160 surface warships and submarines. Another key facility will be the 10,000-tonne ship lift, the only one of its kind in this part of the world. And the facility will be expanded to add two or three dry and repair berths. A ray of hope for Afzal, other death-row prisoners The Supreme Court judgment, in the case of Sangeet v. State of Haryana, delivered on November 20 could make the government give the benefit of the doubt to 14 death-row convicts including Afzal Guru, whose mercy petitions have been turned over to it by the President for fresh advice. The one mercy petition presently pending with President Pranab Mukherjee, after the receipt of advice from Union Home Minister Sushilkumar Shinde, also carries the taint of flawed death sentence by the Supreme Court. The Supreme Courts five-judge Constitution Bench judgment in Bachan Singh v State of Punjab (1980) is the source of contemporary death penalty jurisprudence in India. It limited the death penalty to the rarest of rare crimes, and laid down the principle that the courts must impose the death sentence on a convict only if the alternative sentence of life imprisonment is unquestionably foreclosed. For achieving these twin objectives, the court held that judges must consider the aggravating features of the crime, as well as the mitigating factors of the criminal. However, the application of its principles by the courts to various cases has been very uneven and inconsistent.

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The Sangeet judgement has reaffirmed that Bachan is the correct precedent for awarding death penalty. The relevant findings of the two-Judge Bench comprising Justice K.S. Radhakrishnan and Justice Madan B. Lokur in Sangeet, to paraphrase, are: 1. The reliance on Machhi Singh v. State of Punjab, delivered by a three-Judge Bench in 1983, as a valid legal precedent by many subsequent Benches to justify death sentences is flawed. Machhi Singh sought to compare aggravating circumstances pertaining to a crime with the mitigating circumstances pertaining to a criminal. These are completely distinct and different elements and cannot be compared with one another. A balance sheet cannot be drawn up of two distinct and different constituents of an incident. Bachan Singh resolutely refrained from balancing these elements, because it leads to arbitrary decisions by a Judge. 2. Machhi Singh sought to standardize crimes into five absolute categories, in order to identify the rarest of rare crime deserving death sentence. These five categories are manner of commission of murder, motive for commission of murder, anti-social or socially abhorrent nature of the crime, magnitude of crime and personality of victim of murder. These categories enlarge the scope for imposing death penalty that was greatly restricted by Bachan Singh. 3. Despite Bachan Singh, primacy still seems to be given to the nature of the crime. The circumstances of the criminal, referred to in Bachan Singh, appear to have taken a bit of a back seat in the sentencing process. As mentioned in Article 72 of Indian Constitution, the President is empowered with the powers to grant pardons in the following situations:[16]

Punishment is for offence against Union Law Punishment is by a Military Court Sentence is a death sentence

National Mission on Food Processing The Centrally-sponsored National Mission on Food Processing (NMFP) has been established jointly by the State government and Union Ministry of Food Processing Industries. The objective of the programme is decentralisation of implementation of schemes through participation by State governments. The NMFP scheme would help the states/union territories in maintaining requisite synergy between agriculture plans of states and development of food processing sector, which in turn would help increase farm productivity thereby boosting farmers' incomes. By bridging infrastructural and institutional gaps, this would also ensure an efficient supply chain.
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A National Food Processing Development Council (NFPDC) has been set up under the chairmanship of the minister of agriculture and food processing industry with representatives of state governments, industry associations and related government departments. According to a notification issued by the ministry, this will provide guidance to all schemes of Ministry of Food Processing Industries (MOFPI) including the NMFP. The basic objective of NMFP is decentralization of implementation of ministry's schemes, which will lead to substantial participation of state governments/union territories. Beneficiaries of MOFPI schemes will also find it easier to deal with state governments. This would be a paradigm shift in the ministry's approach and is driven by the need to make food processing truly a national initiative. During 2012-13, schemes such as technology up-gradation, modernization of food processing industries, cold chain, value addition and preservation infrastructure for non-horticultural products, among others, being implemented by the government directly will not be implemented through state governments under this scheme. The NMFP would focus would also promote initiatives for skill development, training and entrepreneurship in post-harvest management and food processing industry. The food processing industry would be assisted to meet the standards in terms of food safety laws and market demand both domestic and international. Entrepreneurship development programme would be taken up. A sum of Rs.2 lakh up to each EDP would be provided. Setting up of food processing training centre, single product or multiproduct line centre with a revolving seed capital would be some of its salient features. With a view to promoting human resource development activities, the scheme facilitates creation of infrastructure for offering degree, diploma certificate in food processing technology. A maximum of Rs.75 lakh would be available for providing the infrastructure such as technical, academic books, laboratory equipment and pilot plant. Technology upgrading, setting up of new, modernisation or expansion of food processing industry would be permitted with a sanction of 25 per cent of cost of plant and machinery and civil work. The ceiling would be Rs.50 lakh. Cold chain facility, Reefer vehicles would also be permitted. It would also provide for promotional activities such as seminars, workshops, studies, surveys up to 50 per cent of the cost or a maximum of Rs.3 lakhs.

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Banking Laws (Amendment) Bill, 2011 The Banking Laws (Amendment) Bill, 2011 seeks to strengthen the regulatory powers of the Reserve Bank of India. It aims to address the issue of capital raising capacity of banks in India. This Bill was first introduced in 2005 but lapsed with the dissolution of the 14th Lok Sabha.

The Banking Laws (Amendment) Bill, 2011 was introduced in the Lok Sabha on March 22, 2011 by the Minister of Finance, Shri Pranab Mukherjee.

The Bill seeks to amend the Banking Regulation Act, 1949, the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980. The Bill proposes to make the following changes in order to help banking companies raise capital for expansion of the banking business:

It removes the ceiling of Rs 3000 crore on the amount of authorized capital nationalised banks must hold. Approval to increase or decrease the authorized capital has to be taken from the Central Government and the Reserve Bank of India (RBI). It allows nationalised banks to issue two additional instruments (bonus shares and rights issue) to enable them to access the capital market for raising capital.

The Bill also proposes some changes regarding the voting rights of the shareholders of banks:

It raises the ceiling on voting rights of shareholders of nationalised banks from one percent to ten percent. It removes the existing restrictions on voting rights limited to ten percent of

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the total voting rights of all the shareholders of the banking company.

To ensure proper control of the banking companies, the Bill makes the following provisions:

For persons who wish to acquire five percent or more of the share capital of a banking company, it will be mandatory to obtain prior approval from the RBI.

The RBI will also have the power to impose conditions while granting approval for acquisition of the share capital.

Banking companies engage in various financial activities through the medium of associate enterprises. To ensure better regulation of such activities the Bill confers powers on the RBI to call for information and returns from such associate enterprises and also inspect them if required. Under the regulations of the Banking Regulations Act, 1949, the RBI has the power to remove a director or any other officers of the banking company. The Statement of Objects and Reasons of the Bill states that such power is not adequate if the entire Board of Directors is working against the interest of the depositors and the company. This Bill proposes to confer powers on the RBI to supersede the Board of Directors of a banking company for not more than 12 months and appoint an administrator for the managing the company during that period. The Negotiable Instruments Act, 1881 requires all banking companies to maintain a certain amount of cash as reserve ratio (CRR) on every alternate Friday of every month. If a banking company fails to maintain the prescribed minimum amount as CRR on any day, the Bill empowers the RBI to levy penal interest on the defaulter. The existing Competition Act, 2002 has given the power to the Competition Commission of India to regulate mergers and acquisitions. The Bill proposes to exempt combinations of banking companies from seeking such permission as these are regulated by RBI.

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The Banking Regulation Act, 1949 gives a time limit of one year to primary co-operative societies to get a license from the RBI to perform banking activities. This Bill extends the time period to three years within which a co-operative society can get the license by fulfilling all requirements to carry on banking business or cease doing so if the license is not granted.

The Bill proposes to establish a Depositor Education and Awareness Fund. The Fund will take over the deposit accounts which have not been claimed or operated for a period of ten years or more.

The Bill also proposes to increase the penalties and fines in certain cases of violation of the Banking Regulation Act, 1949. Such cases would include failure to furnish important information or willful provision of false information.

Accelerated Irrigation Benefits Programme

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The Accelerated Irrigation Benefits programme (AIBP) extends financial assistance to the States for completion of identified ongoing irrigation projects. As per the present pattern of assistance under the AIBP, the Centre is providing only the grant component of the Central Assistance and States are arranging the loan component. The AIBP has to now meet the demands of the Bharat Nirman programme under which a major thrust on irrigation is included. i) Extend Accelerated Irrigation Benefits Programme (AIBP) coverage to all approved major and medium irrigation projects in (a) drought-prone areas, (b) tribal areas, (c) States with lower irrigation potential as compared to National average and (d) districts identified under PMs package for agrarian distress would be provided support under AIBP in relaxation to 1:1 criteria. For other projects, 1:1 criteria i.e., taking up of another project in the State after completion of one ongoing project will remain applicable. The sanctioned grants to be released in two installments, the first based on projected outlay and the second after confirmation of expenditure. The grant component amounting to 90% of the total grant sanctioned will be released immediately and the balance 10% of the grant when 70% of the agreed expenditure is incurred. Removing distinction of Fast Track Projects, Reforming and NonReforming States and Release of grant of 25% of Project Cost for all irrigation projects in Non-Special Category States and 90% for Special Category States. The stipulation of 100 hectare in respect of surface water minor irrigation schemes predominantly benefiting backward regions be brought down to 50 hectare. The stipulation of 10% beneficiary contributing in cost for post construction maintenance for Surface Water Minor Irrigation Schemes benefiting backward regions in non-Special Category States is also to be done away with.

ii)

iii)

iv)

It will help to complete ongoing approved projects of any Plan which the State Governments undertake to complete within 4 years. It will help to achieve the targets as envisaged under Bharat Nirman Programme. The adoption of such system will enable a more efficient and transparent support to the States. It will also help the States to locate projects in backward regions, which are already water stressed to irrigate 100 hectare area Opening up the bond market for FIIs

The Reserve Bank of India will allow foreign institutional investors (FIIs) to invest more in government securities and corporate bonds, said Deputy Governor, H. R. Khan.
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In the works is a proposal to allow FIIs to invest $5 billion each in government securities and corporate bonds without any restriction on residual maturity. This move could help bridge the current account deficit, which had touched 4.2 per cent of GDP. We are slowly opening up the bond market for FIIs. The current FII investment limit in G-Sec is at $20 billion and corporate bonds is at $46 billion. Now, more or less, we have decided to increase these limits by another $5 billion each for both G-Sec and corporate bonds, Khan said at a CII event. According to Khan, the $5 billion increase in FII limit that has been sought is yet to be finalised. However, these limits will be allocated to only long term real money players such as sovereign wealth fund, central banks of other countries, insurance companies, and endowment funds. The abovementioned entities will, however, not be allowed to invest in treasury bills, commercial papers (CPs) or certificate of deposits (CDs). Khan also said the Government is expected to notify reduction in withholding tax on FII investments in rupee-denominated infrastructure bonds soon. Who are Foreign Institutional Investors (FIIs)? Foreign Institutional investors (FIIs) are entities established or incorporated outside India and make proposals for investments in India. These investment proposals by the FIIs are made on behalf of sub accounts, which may include foreign corporates, individuals, funds etcetera. In order to act as a banker to the FIIs, the RBI has designated banks that are authorised to deal with them. The biggest source through which FIIs invest is the issuance of Participatory Notes (PNotes), which are also known as Offshore Derivatives. Can FIIs invest in Indian companies? Yes, FIIs can invest in the stocks and debentures of the Indian companies. In order to invest in the primary and secondary capital markets in India, they have to venture through the portfolio investment scheme (PIS). According to RBI regulations, the ceiling for overall investment for FIIs is 24% of the paid up capital of the Indian company. The limit is 20% of the paid up capital in the case of public sector banks. However, if the board and the general body approves and passes a special resolution, then the ceiling of 24% for FII investment can be raised up to sectoral cap for that particular segment. In fact, recently Sebi allowed FIIs to invest in unlisted exchanges as well, which means both BSE and NSE (the unlisted bourses) can now allot shares to FIIs also. Who all can get registered as FIIs?
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There is a long list of entities that are eligible to get registered as FIIs such as pension funds, mutual funds, insurance companies, investment trusts, banks, university funds, endowments, foundations, sovereign wealth funds, hedge funds and charitable trusts. In fact, asset management companies, investment managers, advisors or institutional portfolio managers set up and/or owned by NRIs are also eligible to be registered as FIIs. The nodal point for FII registrations is Sebi and hence all FIIs must register themselves with Sebi and should also comply with the exchange control regulations of the central bank. Apart from being allowed to invest in securities in primary and secondary markets, FIIs can also invest in mutual funds, dated government securities, derivatives traded on a recognised stock exchange and commercial papers. Why are FIIs important for Indian mkts? FIIs are among the major sources of liquidity for the Indian markets. If FIIs are investing huge amounts in the Indian stock exchanges then it reflects their high confidence and a healthy investor sentiment for our markets. But with the current global financial turmoil and a liquidity and credit freeze in the international markets, FIIs have become net sellers (on a day to day basis). The entry of FIIs in India has brought mixed consequences for our markets, on one hand they have improved the breadth and depth of Indian markets and on the other hand they have also become the major sources of speculation in testing times like these. A Look At Primary And Secondary Markets November 20 2010| Filed Under Brokers, Investing Basics, Stocks The word "market" can have many different meanings, but it is used most often as a catch-all term to denote both the primary market and the secondary market. In fact, "primary market" and "secondary market" are both distinct terms; the primary market refers to the market where securities are created, while the secondary market is one in which they are traded among investors. Knowing the functions of the primary and secondary markets is key to understanding how stocks trade. Without them, the stock market would be much harder to navigate and much less profitable. We'll help you understand how these markets work and how they relate to individual investors. Primary Market The primary market is where securities are created. It's in this market that firms sell (float) new stocks and bonds to the public for the first time. For our purposes, you can think of the primary market as being synonymous with an initial public offering (IPO). Simply put, an IPO occurs when a private company sells stocks to the public for the first time.
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IPOs can be very complicated because many different rules and regulations dictate the processes of institutions, but they all follow a general pattern: 1. A company contacts an underwriting firm to determine the legal and financial details of the public offering. 2. A preliminary registration statement, detailing the company's interests and prospects and the specifics of the issue, is filed with the appropriate authorities. Known as a preliminary prospectus, or red herring, this document is neither finalized nor is it a solicitation by the company issuing the new shares. It is simply an information pamphlet and a letter describing the company's intent. 3. The appropriate governing bodies must approve the finalized statement as well as a final prospectus, which details the issue's price, restrictions and benefits and is issued to those who purchase the securities. This final prospectus is legally binding for the company. The important thing to understand about the primary market is that securities are purchased directly from an issuing company. Secondary Market The secondary market is what people are talking about when they refer to the "stock market". This includes the New York Stock Exchange (NYSE), Nasdaq and all major exchanges around the world. The defining characteristic of the secondary market is that investors trade amongst themselves. That is, in the secondary market, investors trade previously-issued securities without the involvement of the issuing companies. For example, if you go to buy Microsoft stock, you are dealing only with another investor who owns shares in Microsoft. Microsoft (the company) is in no way involved with the transaction. The secondary market can be further broken down into two specialized categories: auction market and dealer market. In the auction market, all individuals and institutions that want to trade securities will congregate in one area and announce the prices at which they are willing to buy and sell. These are referred to as bid and ask prices. The idea is that an efficient market should prevail by bringing together all parties and having them publicly declare their prices. Thus, theoretically, the best price of a good need not be sought out because the convergence of buyers and sellers will cause mutuallyRICH INDIA CIVIL SERVICES ACADEMY 7/3, Arul Illam, Subramaniya Nager Cross Street, Kodambakkam, Chennai-6000 024. Contact: 7373059333, 044-23725102. Approach: 10 min walk able distance from Kodambakkam and Mambalam Railway Stations or Panagal Park Bus stop.

agreeable prices to emerge. The best example of an auction market is the NYSE. (For more information, see Working Through The Efficient Market Hypothesis and What Is Market Efficiency?) Nano Labs Corp (CTLE) In contrast, a dealer market does not require parties to converge in a central location. Rather, participants in the market are joined through electronic networks (from low-tech telephones or fax to complicated order-matching systems). The dealers hold an inventory of the security in which they "make a market". The dealers then stand ready to buy or sell with market participants. These dealers earn profits through the spread between the prices at which they buy and sell securities. An example of a dealer market is the Nasdaq, in which the dealers, who are known as market makers, provide firm bid and ask prices at which they are willing to buy and sell a security. The theory is that competition between dealers will provide the best possible price for investors. The OTC Market Sometimes you'll hear a dealer market referred to as an over-the-counter (OTC) market. The term originally meant a relatively unorganized system where trading did not occur at a physical place, as we described above, but rather through dealer networks. The term was most likely derived from the off-Wall Street trading that boomed during the great bull market of the 1920s, in which shares were sold "over-the-counter" in stock shops. In other words, the stocks were not listed on a stock exchange - they were "unlisted". Over time, however, the meaning of OTC began to change. The Nasdaq was created in 1971 by the National Association of Securities Dealers (NASD) to bring liquidity to the companies that were trading through dealer networks. At the time, there were few regulations placed on shares trading over-the-counter - something the NASD sought to improve. As the Nasdaq has evolved over time to become a major exchange, the meaning of over-the-counter has become fuzzier. Today, the Nasdaq is still considered a dealer market and, technically, an OTC. However, today's Nasdaq is a stock exchange and, therefore, it is inaccurate to say that it trades in unlisted securities.

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Nowadays, the term "over-the-counter" refers to stocks that are not trading on a stock exchange such as the Nasdaq, NYSE or American Stock Exchange (AMEX). This generally means that the stock trades either on the over-the-counter bulletin board (OTCBB) or the pink sheets. Neither of these networks is an exchange, in fact, they describe themselves as providers of pricing information for securities. OTCBB and pink sheet companies have far fewer regulations to comply with than those that trade shares on a stock exchange. Most securities that trade this way are penny stocks or are from very small companies. Third and Fourth Markets You might also hear the terms "third" and "fourth markets". These don't concern individual investors because they involve significant volumes of shares to be transacted per trade. These markets deal with transactions between broker-dealers and large institutions through over-thecounter electronic networks. The third market comprises OTC transactions between brokerdealers and large institutions. The fourth market is made up of transactions that take place between large institutions. The main reason these third and fourth market transactions occur is to avoid placing these orders through the main exchange, which could greatly affect the price of the security. Because access to the third and fourth markets is limited, their activities have little effect on the average investor. TREASURY BILLS AND DATED SECURITIES Treasury Bills are the instruments of short term borrowing by the Central/State govt. They are promissory notes issued at discount and for a fixed period. These were first issued in India in 1917. Objectives These are issued to raise funds for meeting expenditure needs and also provide outlet for parking temporary surplus funds by investors. Investors Treasury bills can be purchased by any one (including individuals) except State govt. These are issued by RBI and sold through fortnightly or monthly auctions at varying discount rate depending upon the bids. Denomination Minimum amount of face value Rs.1 lac and in multiples there of. There is no specific
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amount/limit on the extent to which these can be issued or purchased. Maturity : 91 days and 364 days. Rate of interest Market determined, based on demand for and supply of funds in the money market. Other features These are highly liquid and safe investment giving attractive yield. Approved assets for SLR purposes and DFHI is the market maker in these instruments and provide (daily) two way quotes to assure liquidity. RBI sells treasury bills on auction basis (to bidders quoting above the cut-off price fixed by RBI) every fortnight by calling bids from banks, State Govt. and other specified bodies. DATED SECURITIES These are those instruments which have tenure over one year. The returns on dated securities are based on fixed coupon rates akin to corporate bonds. These are considered risk free.

Hyderabad firm develops TCAS for Railways A Hyderabad based firm, Hyderabad Batteries Limited (HBL), have developed a new safety device to prevent train collision. T he device called Train Collision Avoidance System (TCAS) was recently tested for its viability. What is special about this device? The device puts into use a combination of railway signaling data with radio communications, global position, radio frequency identification devices, software and logic. The system will automatically bring trains to a halt when collision-like situations arise or when the red signal is violated. It can prevent head-on collisions, rear-end collisions, over-speeding of trains and disregard for red signal. SC gives Sahara more time to repay bond investors The Supreme Court gave temporary relief to Sahara group when it gave the company more time to repay the money it had raised from investors through bond sales that were later ruled to be illegal.
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The court has ordered Sahara to initially deposit Rs.5,120 crore with the capital market regulator (SEBI) and pay the remainder in two installments in January and February. In its August ruling, the court had given Sahara 90 days time to repay as much as Rs.24,000 crore collected from nearly 30 million mostly small investors, plus interest of 15% a year, to the Securities and Exchange Board of India (SEBI). The company has also been ordered to furnish detailed documents with the regulator if it had refunded any money collected through the sale of Optionally Fully Convertible Debentures (OFCDs) to investors. India ranked 4th on Global Terrorism Index As per a newly released index prepared by the Australia-based Institute for Economics & Peace, India stands among one of the top 5 nations most- hit by terrorism in 2011. As per the index the rankings are:Iraq,Pakistan,Afghanistan,India,Yemen Only 31 of the 159 countries ranked have not experienced a terrorist attack since 2001. The study showed that number of incidents of terrorism has increased after Iraq war.

India ranked 94th in corruption perception list Transparency International has ranked India at 94th place in its Corruption Perception Index 2012 (CPI) which enlisted 176 countries.India scored 36 on a scale from 0 (most corrupt) to 100 (least corrupt). The low score of India is attributed to the recent scams and incidents of corruption in the public sector involving government officials, private officials and private companies.Denmark, Finland and Switzerland topped the index with a score of 90 followed by Sweden with a score of 88.Afghanistan, North Korea and Somalia scored just 8 to be ranked lowest on the index.India stood below Sri Lanka and China, while it ranked better than Iran, Nepal, Pakistan and Bangladesh.From 2012, the CPI methodology has been updated to provide foryear-over-year comparisons.

Ministries seek declared good status for ATF


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In a bid to bring down the cost of air operations , Civil Aviation and Petroleum ministries would make a joint representation to the Finance Ministry to notify jet fuel as a declared good, enabling levying of a flat 4 per cent tax on it. At present, sales tax on aviation turbine fuel (ATF) ranges from 4 to 35 per cent, varying from State to State. The cost of jet fuel accounts for about 40 per cent of the operating cost of Indian carriers, most of which are facing financial trouble. Talking to reporters after a meeting, Civil Aviation Minister Ajit Singh said Petrolem Minister M. Veerappa Moily agreed to the proposal. Mr. Singh is believed to have said that ATF prices in India were several times higher than countries in the neighbourhood, including those in Southeast and the Gulf. It was also said that foreign airlines operating to India picked up jet fuel at concessional rates due to international agreements, rates which are far below those paid by Indian airlines for the same amount of fuel. The two ministers also agreed on a proposal to put ATF under the Petroleum and Natural Gas Regulatory Board (PNGRB), in a bid to check cartelisation amongst oil companies. Charging the oil firms with indulging in cartelisation in ATF pricing , Mr. Singh said placing jet fuel under the PNGRB would mean that the board could monitor prices and take corrective measures if it felt that cartelisation was taking place. SAME RATE In this context, the ministry pointed out that on October 16, the three state-owned oil companies charged the same rate of Rs. 52,792 per kilolitre of ATF in Chennai and in Kolkata, Rs. 54,479. The aviation minister also suggested moving to the Mean of Platts Arab Gulf (MoPAG) pricing mechanism for jet fuel, instead of the import parity pricing that oil firms followed presently. MOPAG MODEL Singh said adoption of the MoPAG model would bridge the huge price differential in ATF pricing that airlines face Maintaining that the government did not regulate air fares, he said the ministry only wanted to make the system transparent. What we are trying to do is to make the system for deciding the fares transparent. Public should know what is the bucket system and the range they have given should be reasonable, he said.
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Declared Goods Goods of special importance

Goods of Special Importance

Some goods like cereals, coal and coke, cotton, crude oil, sugar, textiles, jute, iron and steel, tobacco products, oil seeds, pulses, LPG have been declared as goods of special importance. These are termed as declared goods. State Government cannot levy sales tax on these goods exceeding 4%. If declared goods are sold inter-State, tax paid within the State is reimbursed to seller. Goods should be sold inter-state in same form.

Restrictions on State Government on imposing Vat (sales tax) on declared goods List of Important declared goods (section 14 of CST Act]

n n n n n n

Cereals i.e. paddy, rice, wheat, bajra, jowar, barley, maize etc. Coal and coke in all forms excluding charcoal Cotton in un-manufactured form but not cotton waste Cotton fabrics, cotton yarn Crude oil Hides and skins

n Iron and Steel i.e. pig iron, sponge iron, iron scrap, steel ingots, billets, steel bars, steel structurals, sheets, plates, discs, rings, tool steel, tubes, tin plates, steel wheels, wire rods; defectives of above etc. n Jute

n Oil-seeds i.e. groundnut, til, cotton seed, linseed, castor, coconut, sunflower, mahua, kokum, sal etc. n Pulses i.e. gram, tur, moong, masur, urad etc.

n Man-made fabrics fabrics of man-made filament yarn i.e. artificial textile materials, polyester filament yarn, staple fibres, polyester staple fibre, tyre cord fabric, impregnated textile fabrics etc.
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n n

Sugar and Khandsari Sugar Woven fabrics of wool

n Aviation Turbine Fuel sold to an aircraft with a maximum takeoff mass of less than 40,000 kilograms operated by scheduled airlines i.e. airlines permitted by Central Government to operate any scheduled air transport service (entry as substituted w.e.f. 11-5-2007 by Finance Act, 2007. Earlier, the entry read as follows Aviation Turbine Fuel sold to a turbo-prop aircraft) n LPG (Liquid Petroleum Gas) for domestic use (inserted w.e.f. 18-4-2006 to maintain tax rates at reasonable level).

Petro pricing Where there is no domestic manufacture of a product, the cost of supplying it in the domestic market would be the landed cost, which would be the import parity price. The Rangarajan Committee has suggested the adoption of the trade-parity pricing model for diesel and petrol, which would be a weighted average of the import parity and export parity prices in the ratio of 80:20.

The official press release on Monday's Cabinet decision to increase "marginally" the petrol and diesel price "in the face of (an) unprecedented increase in international oil prices" says that the Government had the benefit of the recommendations of the Rangarajan Committee on Taxation and Pricing of Petroleum Products (February 2006), adding that the decision reflected the "essence" of the recommendations. The release said that, as suggested by the Committee, `in principle' approval was given to the policy of "restricting PDS kerosene supplies to BPL families". This apart, the Committee's suggestion to use "the trade parity concept and lower Customs duty for petrol and diesel" was also accepted to "reduce the impact of increasing prices on the consumers". Hitherto, the import parity concept has been used to determine benchmark prices of petroleum products after the administered pricing mechanism (APM) was given a notional burial on April 1, 2002. Import parity concept What is this import parity concept? As the Rangarajan Committee report explains, the argument in favour of the concept is that in a situation where there is no domestic manufacture of a product, the cost of supplying it in the domestic market would be the landed cost (Landed Cost is
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the total cost of a product once it has arrived at the buyers door. This list of components that are needed to determine landed costs include the original cost of the item, all brokerage and logistics fees, complete shipping costs, customs duties, tariffs, taxes, insurance, currency conversion, crating costs, and handling fees. Not all of these components are present in every shipment, but all that are must be considered part of the landed cost.), which would be the import parity price. In a situation (as in India) where there is domestic manufacture, the import parity price can be taken as the international competitive price that sets the ceiling for the domestic price. The oil marketing companies were to adjust their product prices automatically and periodically under this system during a three-to-five year period following the dismantling of the APM. It is common knowledge that the system could not work because of the steep rise in the international crude price, which would have led to politically unacceptable domestic price increases. Trade parity pricing It is against this background that the Rangarajan Committee has proposed trade parity pricing which, importantly, takes into account the emergence of India as an exporter of products like petrol and diesel. As the Committee says, there is a need to review the pricing system relating to sensitive products like petrol and diesel so as to provide relief to consumers and also rationalise pricing in the context of exports of the order of 20 per cent of production of these products. Accordingly, the Committee has suggested the adoption of the trade-parity pricing model for diesel and petrol, which would be a weighted average of the import parity and export parity prices in the ratio of 80:20. The Committee adds that the fact that a part of domestic production is exported indicates that domestic refiners working with modern technology and having location advantages are not at a disadvantage compared to foreign refiners. In this situation, it would be improper to extend the export parity pricing mechanism to all refiners, which is why the Committee has opted for a weighted average of import and export parity prices to be called the trade parity price. The further point has been made that the trade parity pricing mechanism will apply to the refinery gate price as well as the retail price, the prices being port specific against the system of weighted average import parity prices currently followed for fixing consumer prices for petrol and diesel. The Committee says that the relative weights of exports and imports used in the trade parity pricing concept which should result in an indicative price ceiling should be reviewed and updated annually. Price setting Crucially, the Rangarajan Committee also says that, having established the trade parity basis for setting petrol and diesel prices, the Government should keep away from the actual process of price setting. It adds that the marketing companies should be allowed flexibility to fix the actual
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retail prices subject to the indicative ceiling, which would introduce an element of competition among the oil-marketing companies to the advantage of the consumer. SARAL launch postponed to February Glitches in SARAL, a satellite meant for studying the ocean currents and sea surface heights, has led to the postponement of its launch from December to the second week of February 2013 from the Sriharikota spaceport. A core-alone version of the Polar Satellite Launch Vehicle (PSLV) of Indian Space Research Organisation (ISRO) was to carry SARAL, an Indo-French joint venture, and five other satellites. But problems that surfaced during the thermo-vacuum testing of SARAL at the ISRO Satellite Centre, Bangalore, have led to the postponement. The 400-kg SARAL (Satellite for Argos-3 and Altika) has two payloads: Argos-3 for data collection and Altikameter for measuring the height of the sea surface. These payloads from French space agency CNES have been integrated into a satellite bus from India. The entire satellite is built in the ISRO Satellite Centre. ISRO officials said the SARAL payloads would basically study the circulation of currents in the oceans and measure the sea surface heights, phenomena that played a complementary role in studying the state of the oceans and understanding them. The five satellites to accompany SARAL are the 148-kg Sapphire and the 82-kg NEOSSAT, both from Canada; two nano-satellites for astrophysics, BRITE and UniBRITE, from Austria; and AAUSAT from Denmark. AAUSAT, built by students of the Department of Electronic Systems at Aalborg University, will test some of the technologies developed by them. Sapphire will look at other satellites and space debris, circling between 6,000 km and 40,000 km above the earth. According to Canadian Space Agency, NEOSSAT (Near-Earth Object Surveillance Satellite) is the worlds first space telescope dedicated to detecting and tracking asteroids and satellites. It will circle the globe every 100 minutes, scanning the space near the Sun to pinpoint asteroids that may some day pass near our planet. NEOSSAT will also sweep the skies in search of satellites and debris as part of Canadas commitment to keeping orbital space safe for everyone, it said.
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A geostationary orbit, or Geostationary Earth Orbit (GEO), is a circular orbit 35,786 kilometres (22,236 mi) above the Earth's equator and following the direction of the Earth's rotation. An object in such an orbit has an orbital period equal to the Earth's rotational period (one sidereal day), and thus appears motionless, at a fixed position in the sky, to ground observers. Communications satellites and weather satellites are often given geostationary orbits, so that the satellite antennas that communicate with them do not have to move to track them, but can be pointed permanently at the position in the sky where they stay. A geostationary orbit is a particular type ofgeosynchronous orbit. A Sun-synchronous orbit (sometimes called a heliosynchronous orbit) is a geocentric orbit which combines altitude and inclination in such a way that an object on that orbit ascends or descends over any given Earth latitude at the same local mean solar time. The surface illumination angle will be nearly the same every time. This consistent lighting is a useful characteristic for satellites that image the Earth's surface in visible or infrared wavelengths (e.g. weather and spy satellites) and for other remote sensing satellites (e.g. those carrying ocean and atmospheric remote sensing instruments that require sunlight). The Sun-synchronous orbit is mostly selected for Earth observation satellites that should be operated at a relatively constant altitude suitable for its Earth observation instruments, this altitude typically being between 600 km and 1000 km over the Earth surface. A low Earth orbit (LEO) is generally defined as an orbit below an altitude of approximately 2,000 kilometers (1,200 mi). Given the rapid orbital decay of objects below approximately 200 kilometers (120 mi), the commonly accepted definition for LEO is between 160 kilometers (99 mi) and 2,000 kilometers (1,200 mi) above the Earth's surface.With the exception of the lunar flights of the Apollo program, all human spaceflights have taken place in LEO (or were suborbital). The altitude record for a human spaceflight in LEO was Gemini 11 with an apogee of 1,374.1 kilometers (853.8 mi). Higher orbits include medium Earth orbit (MEO), sometimes called intermediate circular orbit (ICO), and further above, geostationary orbit(GEO). Orbits higher than low orbit can lead to early failure of electronic components due to intense radiation and charge accumulation. While a majority of artificial satellites are placed in LEO, making one complete revolution around the Earth in about 90 minutes, manycommunication satellites require geostationary orbits, and move at the same angular velocity as the Earth. Since it requires less energy to place a satellite into a LEO and the LEO satellite needs less powerful amplifiers for successful transmission, LEO is still used for many communication applications. Because these LEO orbits are not geostationary, a network (or "constellation") of satellites is required to provide continuous coverage. Lower orbits also aid remote sensing satellites because of the added detail that can be gained. Remote sensing satellites can also take advantage of sun-synchronous LEO orbits at an altitude of about 800 km (500 mi) and near
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polar inclination. ENVISAT is one example of an Earth observation satellite that makes use of this particular type of LEO. The LEO environment is becoming congested with space debris. This has caused growing concern in recent years, since collisions at orbital velocities can be damaging or even dangerous. They can, of course, produce even more space debris in the process, something known as the Kessler Syndrome. The Polar Satellite Launch Vehicle commonly known by its abbreviation PSLV, is an expendable launch system developed and operated by the Indian Space Research Organisation (ISRO). It was developed to allowIndia to launch its Indian Remote Sensing (IRS) satellites into sun synchronous orbits, a service that was, until the advent of the PSLV, commercially viable only from Russia. PSLV can also launch small size satellites into geostationary transfer orbit (GTO). The PSLV has launched 55 satellites / spacecrafts ( 26 Indian and 29 Foreign Satellites) into a variety of orbits so far. PSLV has a flyaway cost of 17 million USD for each launch. After some delays, the PSLV had its first launch on 20 September 1993. Although all main engines performed as expected, an altitude control problem was reported in the second and third stages. After this initial setback, ISRO met complete success with the third developmental launch in 1996. Further successful launches followed in 1997, 1999, and 2001. The PSLV has four stages using solid and liquid propulsion systems alternately. First flight of the PSLV-XL version. 1,380 kg Success India's first Chandrayaan I mission to the Moon.

C11

PSLVXL

22 October 2008[46]

Sriharikota SLP**

C16 PSLV

20 April 2011

In the current flight, the ResourceSat1206 kg standard version, with six 2 Sriharikota 106 kg Success solid strap-on booster X-Sat 92 kg motors strung around the first stage, was used. YouthSat

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PSLV- 15 July C17 XL 2011

Sriharikota SLP**

Indigenously developed GSAT-12 1410 kg Success flight computer 'Vikram' used for the first time.

12 October PSLVC18 2011 CA 11:00:00 IST

The MeghaTropiques satellite for climate research launched along with three Meghamicrosatellites: Tropiques 1000 kg the SRMSAT built by the 10.9 kg SRM University, Chennai, Success Sriharikota 3 kg the remote sensing SRMSAT ] 28.7 kg satellite Jugnu from the Jugnu Indian Institute of Technology-Kanpur and the VesselSatVesselSat-1 1 ofLuxembourg to locate ships on high seas. Radar Imaging Satellite1 (RISAT-1) is a state of the art Microwave Remote Sensing Satellite carrying a synthetic Aperture Radar (SAR) 1850 kg Success payload operating in Cband (5.35 GHz), which enables imaging of the earth surface features during both day and night under all weather conditions. Launch attended by Prime Minister Manmohan Singh.French remote Success sensing satellite SPOT6(built by EADS Astrium) and Japanese microsat PROITERES (built

C19

PSLV- 26 April XL 2012

Sriharikota

RISAT-1

9 PSLVC21 September Sriharikota CA 2012

SPOT-6 (France) 720 kg 15 kg PROITERES

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mRESINS

by Osaka Institute of Technology) placed in orbit. SPOT-6 carries 2 NAOMI (Pan: 2 m, MS: 8 m ) Pushbroom imagers and will offer 2 meter resolution data in a 60 kilometer by 60 kilometre swath. PROITERES features an electric propulsion rocket engine and aims to demonstrate powered-flight technology for an ultra-small satellite and monitor the Kansai region with a highresolution camera mRESINS is an experimental avionics payload called "mini Redundant Strapdown Inertial Navigation System" bolted to the vehicle's fourth stage. It was for testing new avionics for future PSLV missions.

Agriculture / Rural development

The Land Acquisition, Rehabilitation and Resettlement Bill, 2011 The Land Acquisition, Rehabilitation and Resettlement Bill, 2011 was introduced in Lok Sabha. Two Bills on similar lines were introduced in Lok Sabha in 2007.

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Land acquisition refers to the process by which government forcibly acquires private property for public purpose. The Land Acquisition Act, 1894 (1894 Act) governs all such acquisitions. Additionally, there are 16 Acts with provisions for acquisition of land in specific sectors such as railways, special economic zones, national highways, etc. The 1894 Act does not provide for rehabilitation and resettlement (R&R) for those affected by land acquisition. Currently, the R&R process is governed by the National Rehabilitation and Resettlement Policy, 2007. In 2007, two Bills were introduced in the Lok Sabha: one to amend the Land Acquisition Act, 1894, and the other to provide statutory status to the R&R policy of 2007. These Bills lapsed with the dissolution of the 14 th Lok Sabha in 2009. In May 2011, the National Advisory Council recommended combining the provisions of land acquisition and R&R within a single Bill. In July 2011, the Draft Land Acquisition and Rehabilitation and Resettlement Bill was published by the Ministry of Rural Development for public comments. In September 2011, the government introduced the Land Acquisition and Rehabilitation and Resettlement Bill in the Lok Sabha. This Bill will replace the 1894 Act. These Bills lapsed with the dissolution of the 14th Lok Sabha. You can read more about these Bills here: Highlights of the Bill

The Bill provides for land acquisition as well as rehabilitation and resettlement. It replaces the Land Acquisition Act, 1894. The process for land acquisition involves a Social Impact Assessment survey in consultation with the gram sabha, preliminary notification stating the intent for acquisition, a declaration of acquisition, and compensation to be given by a certain time. All acquisitions require rehabilitation and resettlement to be provided to the people affected by the acquisition. Compensation for the owners of the acquired land shall be four times the market value in case of rural areas and twice in case of urban areas. In case of acquisition of land for use by private companies or public private partnerships, consent of 80 per cent of the displaced people will be required. Purchase of large pieces of

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land by private companies will require provision of rehabilitation and resettlement.

The provisions of this Bill shall not apply to acquisitions under 16 existing legislations including the Special Economic Zones Act, 2005, the Atomic Energy Act, 1962, the Railways Act, 1989, etc.

Key Issues

It is not clear whether Parliament has jurisdiction to impose rehabilitation and resettlement requirements on private purchase of agricultural land.

The requirement of a Social Impact Assessment for every acquisition without a minimum thresholdmay delay the implementation of certain government programmes. Projects involving land acquisition and undertaken by private companies or public private partnerships require the consent of 80 per cent of the people affected. However, no such consent is required in case of PSUs. The market value is based on recent reported transactions. This value is doubled in rural areas to arrive at the compensation amount. This method may not lead to an accurate adjustment for the possible underreporting of prices in land transactions. The government can temporarily acquire land for a maximum period of three years. There is no provision for rehabilitation and resettlement in such cases.

Other provisions A Land Acquisition and Rehabilitation and Resettlement Authority shall be established for settling any disputes relating to the process of acquisition, compensation, and R&R. There shall be no change of ownership of acquired land without prior permission from the government. Land may not be used for any purpose other than for which it is acquired. Acquired land which has been unused for 10 years from the date of possession shall be returned to the Land Bank of the government. If any unused acquired land is transferred to
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another individual, 20 per cent of the appreciated land value shall have to be shared amongst the original land owners. The government may temporarily occupy and use any piece of waste or arable land for a public purpose. This occupation may be for a period of not more than three years. The compensation of such land may be decided mutually by the owner of the land and the Collector. Any disagreement on matters relating to compensation or the condition of the land on being returned shall be referred to the Land Acquisition and R&R Authority. In any district, land acquisition will be restricted to a maximum of five per cent of irrigated multi-crop land. The provisions of this Bill shall not apply to land acquisition under 16 existing laws. These include: the SEZ Act, 2005, Atomic Energy Act, 1962 and the National Highways Act, 1956. China, India, Brazil to emerge as key global players by 2030: US report Asia will have surpassed North America and Europe combined in terms of global power by 2030 with China, India and Brazil becoming especially important to the global economy, according to a new US intelligence assessment. "The diffusion of power among countries will have a dramatic impact by 2030," says the fifth instalment in the US National Intelligence Council's series aimed at providing a framework for thinking about the future released here Monday. The report "Global Trends 2030: Alternative Worlds," released by the Office of the Director of National Intelligence, the apex body of 16 US intelligence agencies, says China alone will probably have the largest economy, surpassing that of the United States a few years before 2030. "In a tectonic shift, the health of the global economy increasingly will be linked to how well the developing world does-more so than the traditional West," the report said. "In addition to China, India, and Brazil, regional players such as Colombia, Indonesia, Nigeria, South Africa, and Turkey will become especially important to the global economy. "Meanwhile, the economies of Europe, Japan, and Russia are likely to continue their slow relative declines," the report said. Despite their growing economic clout, developing countries will face their own challenges, especially in their efforts to continue the momentum behind their rapid economic growth, it said.
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With slowing growth China "faces the prospect of being trapped in middle-income status, with its per capita income not continuing to increase to the level of the world's advanced economies." "India faces many of the same problems and traps accompanying rapid growth as China: large inequities between rural and urban sectors and within society; increasing constraints on resources such as water; and a need for greater investment in science and technology to continue to move its economy up the value chain," the report said. "Insufficient natural resources - such as water and arable land - in many of the same countries that will have disproportionate levels of young men increase the risks of intrastate conflict breaking out, particularly in Sub-Saharan African and South and East Asian countries, including China and India," it said. "Three different baskets of risks could conspire to increase the chances of an outbreak of interstate conflict: changing calculations of key players- particularly China, India, and Russia; increasing contention over resource issues; and a wider spectrum of more accessible instruments of war." South Asia, the report said: "faces a series of internal and external shocks during the next 15-20 years. Low growth, rising food prices, and energy shortages will pose stiff challenges to governance in Pakistan and Afghanistan." "Afghanistan's and Pakistan's youth bulges are large-similar in size to those found in many African countries. When these youth bulges are combined with a slow-growing economy, they portend increased instability." However, it said, "India is in a better position, benefiting from higher growth, but it will still be challenged to find jobs for its large youth population. Inequality, lack of infrastructure, and education deficiencies are key weaknesses in India." How the United States' international role evolves during the next 15-20 years was a big uncertainty, the report said. "Whether the US will be able to work with new partners to reinvent the international system will be among the most important variables in the future shape of the global order," it said. Special housing quota for single women proposed The government proposes a separate quota for single women under its two ambitious housing schemes the Indira Awas Yojana and the Rajiv Awas Yojana and assured access to employment and equal wages through special job cards under the Mahatma Gandhi National
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Rural Employment Guarantee Scheme. Womens groups will be included as implementing agencies of MGNREGS works. It also proposes launching separate entrepreneurship and leadership development schemes for single women with preferential selection in credit grants with flexible payment modalities and lower interest rates. Accepting that single women and women-headed households are now a reality in India, the government has sought to give special attention to their issues in the Twelfth Plan to be finalised before month-end. Further, single women must be made aware of their rights and entitlements within their maternal and matrimonial households. For this, special focus is needed on legal aid to single women as well as promotion of separate federations of single women at the block and district levels. The Twelfth Plan will give special attention to older women in order to address their health, nutrition and pension concerns. The focus will be on creating awareness of various diseases such as osteoporosis, breast cancer and cervical cancer. Mental health issues will get due attention. The cost of medical procedures for single/poor senior citizens will be subsidised. Waiver of the income criteria for old-age pensions to women above the age of 75 in rural areas/urban slums/JJ colonies will be provided. A pension fund will be set up for elderly women in the unorganised sector rendered jobless. The Plan will reach out to women living with HIV and AIDS, especially those who have been deserted by their family, have lost their husbands, and are without any social or economic support. HIV positive or affected women will be empowered through vocational training, including training to conduct HIV and AIDS awareness programmes. Legal services will be made a part of the process of rehabilitation. Importantly, the Integrated Child Development Scheme (ICDS) guidelines will integrate information on nutritional support to women and children on Anti Retroviral Treatment. There is a separate provision for migrant women that will ensure provision of financial services to enable promotion of savings and to facilitate secure transfer of remittances. To protect migrant domestic workers from exploitation by placement agencies, a system of registration, monitoring and accountability may be introduced. To prevent marginalisation of migrant labour, portability of entitlements such as ration cards will be ensured.
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Women in disturbed areas facing special issues including continuous Army presence, suspended civil rights and lack of normal access to facilities/services will be provided special attention in areas like health care, schools, and free legal aid. Gender sensitisation programmes will be held for the authorities who implement specific legislations such as the Armed Forces Special Powers Act (AFSPA) applicable to disturbed areas. In order to break the vicious cycle of second generation prostitution and brothel-related livelihood, the children of sex workers will be mainstreamed. EMPOWERING TRANSGENDERS The Plan proposes empowerment of transgenders by advocating that Ministries support their education, housing, access to healthcare, skill development, employment opportunities and financial assistance. Identification will be provided for them in all government and nongovernment records by introducing a separate column to include the third gender. Keywords:ICDS,MNREGA, OSTEOPOROSIS,IAY,RAY The Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) is an Indian job guarantee scheme, enacted by legislation on August 25, 2005. The scheme provides a legal guarantee for one hundred days of employment in every financial year to adult members of any rural household willing to do public work-related unskilled manual work at the statutory minimum wage of 120 (US$2.28) per day in 2009 prices. The Central government outlay for scheme is 40,000 crore (US$7.6 billion) in FY 2010-11. This act was introduced with an aim of improving the purchasing power of the rural people, primarily semi or un-skilled work to people living in rural India, whether or not they are below the poverty line. Around one-third of the stipulated work force is women. The law was initially called the National Rural Employment Guarantee Act (NREGA) but was renamed on 2 October 2009.The act directs state governments to implement MGNREGA "schemes". Under the MGNREGA the Central Government meets the cost towards the payment of wage, 3/4 of material cost and some percentage of administrative cost. State Governments meet the cost of unemployment allowance, 1/4 of material cost and administrative cost of State council. Since the State Governments pay the unemployment allowance, they are heavily incentivized to offer employment to workers. However, it is up to the State Government to decide the amount of unemployment allowance, subject to the stipulation that it not be less than 1/4 the minimum wage for the first 30 days, and not less than 1/2 the minimum wage thereafter. 100 days of employment (or unemployment allowance) per household must be provided to able and willing workers every financial year.
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Rajiv Awas Yojana Ministry of Housing and Urban Poverty Alleviation announced an ambitious scheme for slum dwellers in the year 2009. RAY envisages (accordance of property rights for slum dwellers and use of GIS enabled MIS for slums ) a SLUM-FREE INDIA adopting a multi-pronged whole city approach focusing on: 1.bringing existing slums within the formal system and enabling them to avail of the same level of basic amenities as the rest of the town 2.redressing the failures of the formal system that lie behind the creation of slums 3.tackling the shortages of urban land and housing that keep shelter out of reach of the urban poor and force them to resort to extra-legal solutions in a bid to retain their sources of livelihood and employment INDIRA AWAS YOJANA GOI is implementing IAY since 1985-86 to provide financial assistance for construction /upgradation of dwelling units to BPL RURAL households belonging to SC/STs and freed bonded labourers categories. From the year 1993-94, the scope of the scheme was extended to cover non-SCs ans STs rural BPL poor, subject to the condition that it is not more than 40% of total IAY allocation.The benefits of the scheme have also been extended to the families of the ex-servicemen of the armed and paramilitary forces killed in action.3% reserved for rural BPL physically and mentally challenged persons.From 2006-07, funds have been earmarked for minorities BPL in each state. Financial resources shared btw centre and state on a 75:25 basis.In case of UTS entire fund will be provided by the centre.For NE states its 90:10.Further, the dwelling units should invariably be allotted in the female member of the beneficiary household or both husband and wife .The construction of the houses is the sole responsibility of the beneficiary.Engagement of contractors is strictly prohibited Integrated Child Development Services (ICDS) Scheme Launched on 2nd October 1975, today, ICDS Scheme represents one of the worlds largest and most unique programmes for early childhood development. ICDS is the foremost symbol of Indias commitment to her children Indias response to the challenge of providing pre-school education on one hand and breaking the vicious cycle of malnutrition, morbidity, reduced learning capacity and mortality, on the other. 1. Objectives: The Integrated Child Development Services (ICDS) Scheme was launched in 1975 with the following objectives:
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i. ii. iii. iv. v.

to improve the nutritional and health status of children in the age-group 0-6 years; to lay the foundation for proper psychological, physical and social development of the child; to reduce the incidence of mortality, morbidity, malnutrition and school dropout; to achieve effective co-ordination of policy and implementation amongst the various departments to promote child development; and to enhance the capability of the mother to look after the normal health and nutritional needs of the child through proper nutrition and health education.

2. Services: The above objectives are sought to be achieved through a package of services comprising: i. ii. iii. iv. v. vi. supplementary nutrition, immunization, health check-up, referral services, pre-school non-formal education and nutrition & health education.

Osteoporosis is a disease of bonesthat leads to an increased risk of fracture. In osteoporosis, the bone mineral density (BMD) is reduced, bone microarchitecture deteriorates, and the amount and variety of proteins in bone are altered. Osteoporosis is defined by the World Health Organization(WHO) as a bone mineral density of 2.5 standard deviations or more below the mean peak bone mass (average of young, healthy adults) as measured by dual-energy X-ray absorptiometry; the term "established osteoporosis" includes the presence of a fragility fracture.The disease may be classified as primary type 1, primary type 2, or secondary. The form of osteoporosis most common in women after menopause is referred to as primary type 1 or postmenopausal osteoporosis. Primary type 2 osteoporosis or senile osteoporosis occurs after age 75 and is seen in both females and males at a ratio of 2:1. Finally, secondary osteoporosis may arise at any age and affect men and women equally. This form results from chronic predisposing medical problems or disease, or prolonged use of medications such as glucocorticoids, when the disease is called steroid- or glucocorticoid-induced osteoporosis. Medication includes calcium, vitamin D, bisphosphonatesand several others. The management of HIV/AIDS typically includes the use of antiretroviral drugs which are medications for the treatment of infection by retroviruses, primarily HIV. Different antiretroviral drugs restrain the growth and reproduction of HIV. When several such drugs, typically three or four, are taken in combination, the approach is known as highly active antiretroviral therapy, or HAART. HAART decreases the amount of HIV and rebuilds the immune system. The American National Institutes of Health and other organizations recommend offering antiretroviral treatment to all patients with AIDS. Because of the complexity of selecting and
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following a regimen, the severity of the side-effects, and the importance of compliance to prevent viral resistance, such organizations emphasize the importance of involving patients in therapy choices and recommend analyzing the risks and the potential benefits to patients with low viral loads Antiretroviral (ARV) drugs are broadly classified by the phase of the retrovirus life-cycle that the drug inhibits.

Entry inhibitors (or fusion inhibitors) interfere with binding, fusion and entry of HIV-1 to the host cell by blocking one of several targets. Maraviroc and enfuvirtide are the two currently available agents in this class. CCR5 receptor antagonists are the first antiretroviral drugs which do not target the virus directly. Instead, they bind to the CCR5 receptor on the surface of the T-Cell and block viral attachment to the cell. Most strains of HIV attach to T-Cells using the CCR5 receptor. If HIV cannot attach to the cell, it cannot gain entry to replicate. Nucleoside reverse transcriptase inhibitors (NRTI) and nucleotide reverse transciptase inhibitors (NtRTI) are nucleoside and nucleotide analogues which inhibit reverse transcription by being incorporated into the newly synthesized viral DNA strand as faulty nucleotides; they both act as competitive substrate inhibitors. Non-Nucleoside reverse transcriptase inhibitors (NNRTI) inhibit reverse transcriptase by binding to an allosteric site of the enzyme; NNRTIs act as non-competitive inhibitors ofreverse transcriptase. Protease inhibitors (PIs) target viral assembly by inhibiting the activity of protease, an enzyme used by HIV to cleave nascent proteins for the final assembly of new virions. Integrase inhibitors inhibit the enzyme integrase, which is responsible for integration of viral DNA into the DNA of the infected cell. There are several integrase inhibitors currently under clinical trial, and raltegravir became the first to receive FDA approval in October 2007. Maturation inhibitors inhibit the last step in gag processing in which the viral capsid polyprotein is cleaved, thereby blocking the conversion of the polyprotein into the mature capsid protein (p24). Because these viral particles have a defective core, the virions released consist mainly of non-infectious particles. Alpha interferon is a currently available agent in this class.Two additional inhibitors under investigation are bevirimat and Vivecon.

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Offences threatening economic security now under UAPA Following an assurance from the Centre that the Unlawful Activities (Prevention) Amendment Bill, 2012 was not targeted against any community, religion or caste, Parliament passed legislation that seeks to expand the definition of terrorist act by incorporating offences that threaten Indias economic security, including circulation of high value counterfeit currency and financing of terrorist activities. An individual, group of individuals, or an association involved in counterfeit currency circulation will be covered under the law and it was not directed against innocent people. The Bill amends the Unlawful Activities (Prevention) Act, 1967 to make it more effective in preventing terrorist activities and to fulfil the obligations made with the Financial Action Task Force an Inter-governmental Organisation set up to devise policies to combat money laundering and terror financing.The Bill amends the original Act to expand the definition of a person to include an individual, a Hindu undivided family, a company, a firm, an association of persons or a body of individuals, every artificial juridical person, any agency, office or branch owned or controlled by any person falling within any of the preceding subclauses.It defines the proceeds of terrorism as property which is being used, or is intended to be used for a terrorist act or for the purpose of an individual terrorist or a terrorist gang or a terrorist organisation, including property intended to be used for terrorism.As per the Bill the punishment for raising funds for terrorist acts shall not be less than five years, which may be extended to imprisonment for life.

The Unlawful Activities (Prevention) Amendment Bill, 2011

The Unlawful Activities (Prevention) Amendment Bill, 2011 was introduced on December 29, 2011 by the Minister of Home Affairs. The Bill was referred to the Standing Committee on Home Affairs on January 13, 2012. The Committee is expected to table its report by March 31, 2012. According to the statement of objects and reasons, the Bill amends the Unlawful Activities (Prevention) Act, 1967 to make it more effective in preventing unlawful activities, and meet commitments made at the Financial Action Task Force (an

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intergovernmental organization to combat money laundering and terrorism financing).

The Bill amends the original Act to include the definition of a person. A person shall include (i) an individual; (ii) a Hindu undivided family; (iii) a company; (iv) a firm; (v) an association of persons or a body of individuals; (vi) every artificial juridical person; (vii) any agency, office or branch owned or controlled by any person falling within any of the preceding sub-clauses.

The original Act defined proceeds of terrorism as:

Property derived from commission of any terrorist act or traceable to a terrorist act; and

Property which is being used or is intended to be used for the purpose of a terrorist organization or terrorist gang. The Bill replaces the second part of the above definition with property which is being used, or is intended to be used for a terrorist act or for the purpose of an individual terrorist or a terrorist gang or a terrorist organization. It also clarifies that the proceeds of terrorism include property intended to be used for terrorism. The Bill also expands the definition of property by using the phrase instruments in any form including but not limited to those listed in the original definition.

The Bill increases the period for which an association can be declared as unlawful from two years to five years. It expands the definition of terrorist act to include:

Acts that threaten the economic security of India and damage its monetary stability by production, smuggling or circulation of high quality counterfeit currency. The security features that define high quality are laid down in the Third Schedule.

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Acts of demanding bombs, explosive/ inflammable substances, lethal weapons, poisonous chemicals or biological, radiological, nuclear material with the intention of aiding, abetting or committing terrorism.

Acts that involve detention, abduction, threats to kill or injure, or other actions so as to compel an international or inter-governmental organization to comply with some demand.

Acts within the scope of and defined in any of the treaties listed in the Second Schedule of the Bill.

The Bill enlarges the scope of punishment for raising funds:

Under the original Act, if a person raises or provides funds, knowing that such funds are likely to be used to commit a terrorist act, he shall be punishable with imprisonment of not less than five years and a fine. Under the Bill, raising funds likely to be used (in full or in part) to commit a terrorist act or for the benefit of terrorists shall be punishable irrespective of whether the funds have been raised from legitimate or illegitimate sources. The Bill clarifies that raising funds shall include production or circulation of counterfeit Indian currency. It also states that participating, organising or directing fund raising activities shall constitute an offence.

The Bill inserts new sections to include offences by companies, societies or trusts. Every person who, at the time of the offence, was responsible for the conduct of the business shall be punishable with imprisonment for seven or more years and a fine between five to ten crore rupees. The Bill confers additional powers upon the court to provide for attachment or forfeiture of:

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Property equivalent to the counterfeit Indian currency involved in the offence. Property equivalent to the value of the proceeds of terrorism involved in the offence.

All or any of the property of an accused, based on evidence produced before the court, in cases where the trial cannot be concluded.

The Constitution (117th Amendment) Bill, 2012

The Constitution (One Hundred Seventeenth Amendment) Bill, 2012 was introduced in the Rajya Sabha on September 5, 2012 by Mr. V Narayansamy, Minister of State for Personnel, Public Grievances and Pensions. In 1992, the Supreme Court in the case of Indira Sawhney v Union of India had held reservations in promotions to be unconstitutional. Subsequently in 1995, the central government had amended the Constitution and inserted Article 16(4A). This provided for reservation in promotions for Scheduled Castes and Scheduled Tribes which in the opinion of the state are not adequately represented in the services. In 2006, the Supreme Court in the case of M. Nagraj v Union of India upheld the constitutional validity of the amendment. While upholding the validity of the amendment, the court held that before framing any law on this issue, the state will have to satisfy the test of; (a) backwardness of the particular SC and ST group; (b) inadequate representation of the said group; and (c) efficiency of administration. In April 2012, the Supreme Court struck down the UP Government Seniority Rules which provided for reservations in promotions. The court held that the state government had not undertaken any exercise to identify whether there was backwardness and inadequate representation of Scheduled Castes and Scheduled Tribes in the state government. In light of the recent judgment of the Supreme Court, the central government has

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introduced the present Bill amending the Constitution. The Bill seeks to substitute Article 16(4A) of the Constitution of India.

The Bill provides that all the Scheduled Castes and Scheduled Tribes notified in the Constitutional shall be deemed to be backward.

Article 335 of the Constitution states that the claims of the Scheduled Castes and Scheduled Tribes have to be balanced with maintaining efficiency in administration. The Bill states that provision of the amendment shall override the provision of Article 355.

Prithvi-II flight-tested successfully

The Strategic Forces Command (SFC) on Thursday successfully flight-tested nuclear weaponscapable Prithvi-II missile from Chandipur, off the Odisha coast. The surface-to-surface ballistic missile, which was picked up randomly from the production lot, was fired from a road mobile launcher and tested for its full range of 350 km. The entire exercise was carried out by one of the regiments of the SFC, which handles nuclear-tipped missiles, as part of regular training. The single-stage, liquid propelled missile can carry a payload of 500 kg. In trial, it carried a dummy payload and splashed down within a few metres of the target point in the Bay of Bengal with accuracy. All radars, electro-optical systems and telemetry network tracked and monitored the missiles performance in real time.The SFC successfully test-fired nuclear weapons-capable Agni-II for its full distance of 700 km last week. National Biomass Cookstoves Initiative (NBCI) 1. Introduction In the context of concerns over health, climate change and energy security, the Ministry of New and Renewable Energy through a Special Project on Cookstove(SPC) during 2009-10 initiated
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the process of consultations under its Core Group on cookstoves to ascertain the status of various types of biomass improved cookstoves being developed and promoted by various organizations, NGOs, entrepreneurs and industries in the country, and to identify ways and means for the development and expansion of the deployment of improved biomass cookstoves. The consultations indicated that biomass cookstoves do have the potential to directly address health concerns and welfare concerns of the weakest and most vulnerable sections of society. The cleaner combustion in these devices will also greatly reduce greenhouse pollutants. 2. National Biomass Cookstoves Initiatives (NBCI) 2.1 As a result of the above consultations, a National Biomass Cookstoves Initiative (NBCI) was launched by MNRE on 2nd December 2009 at New Delhi with the primary aim to enhance the use of biomass cookstoves. The initiative stressed the setting up of state-of-the-art testing, certification and monitoring facilities and strengthening R&D programmes. The aim was to design and develop the most efficient, cost effective, durable and easy to use device. 2.2 The NBCI of MNRE is structured differently from the earlier National Programme on Improved Chulhas (NPIC), although building on the several successes of that programme as also drawing lessons from the experience gained from its implementation. Under this initiative, a series of pilot scale projects are envisaged using several existing commercially available and better cookstoves and different grades of process biomass fuel. 2.3 A project entitled A New Initiative for Improved Cookstoves: Preparatory Activities for Launch was taken up by MNRE at Indian Institute of Technology, New Delhi during the year 2009-10 to assess the present status of various types of improved chulhas, their suitability and delivery mechanisms. The IIT was to prepare an action plan for development and deployment of cookstoves. The project had been completed and its recommendations are being acted upon.

Astra missile test-fired successfully As part of DRDOs developmental trials, Beyond Visual Range Air-to-Air Missile (BVRAAM), Astra was successfully launched from Chandipur, Odisha, to validate its reconfigured propulsion, control and guidance systems. The launch was carried out against an electronic target, although Pilotless Target Aircraft Lakshya was used to check the effectiveness of systems such as the ground radar. The missile was test-fired again with an actual seeker to intercept Lakshya at speed Mach3(thrice the speed of sound).
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In the earlier mission, Astra was guided towards the electronic target in a ground-to-air launch.The altitude of engagement was 4 km and all the parameters were validated.The missile was also tested for midcourse guidance against an electronic target. Designed to intercept and destroy enemy aircraft at supersonic speeds (1.2 to 1.4 Mach) in head-on and tail-chase modes, the missile uses solid propellant and can carry a conventional warhead weighing 15 kg. The 3.8-metre long Astra is the smallest of the missiles developed by DRDO.It can be launched from different altitudes and cover 110 km when fired from an altitude of 15 km, reach 44 km when launched from an altitude of eight km, and 21 km when launched from the sea-level. After completion of all developmental trials, Astra will be eventually integrated with combat fighter aircraft Sukhoi-30, MIG-29 and the Light Combat Aircraft. Beyond-visual-range missile The term beyond-visual-range missile (BVR) usually refers to an air-to-air missile (BVRAAM) that is capable of engaging at ranges of 20 nmi (37 km) or beyond. This range has been achieved using dual pulse rocket motors or booster rocket motor and ramjet sustainer motor. In addition to the range capability, the missile must also be capable of tracking its target at this range or of acquiring the target in flight. Systems in which a mid-course correction is transmitted to the missile have been used. Early air-to-air missiles used semi-active radar guidance, that is the missile used the radiation produced by the launching aircraft to guide it to the target. The latest generation of BVR missiles use a combination of semi-active and active radar. The first such missiles were relatively simple beam riding designs. The Sparrow 1 mounted on the US Navy's Skyknight became the first operational BVR missile in 1954. The first air-to-air missile to introduce a terminal active seeker of its own was the AIM-54 Phoenix carried by the F-14 Tomcat, which entered service in 1972.

Indias first: Kochi-Muziris Biennale kicks off Kochi is hosting Indias first biennale, the Kochi-Muziris Biennale, an international exhibition which showcases artworks across a variety of mediums including film, installation, painting,
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sculpture, new media and performance art from Indian and International artists. Alongside the exhibition the Biennale will offer a rich programme of talks, seminars, screenings, music, workshops and educational activities for school children and students. What is a Biennale? Biennale is Italian for "every other year" and can be used to describe any event that happens every two years. It is most prolifically used within the art world to describe an international manifestation of contemporary art, originating from the use of the phrase for the Venice Biennale, which was first held in 1895.

IOC retains top slot in Fortune 500 India list Indian Oil Corporation (IOC) is the biggest company in terms of revenue, followed by Reliance Industries, according to the Fortune 500 list of Indian companies for 2012. This years list of the countrys 500 largest corporations, compiled by the business magazine Fortunes Indian edition, features as many as 55 new entities.IOC is the biggest company with annual revenue of Rs.4,20,287 crore, followed by Mukesh Ambani-led RIL with a full-year revenue of Rs.3,67,539 crore. Bharat Petroleum Corporation is at the third spot with a revenue of Rs.2,14,866 crore. The three firms IOC, RIL and BPCL have retained their last years respective ranks, Fortune India said.Hindustan Petroleum Corporation is ranked fourth with annual revenue of Rs.1,87,693 crore and State Bank of India is ranked fifth with Rs.1,77,033 crore revenue. Among others in the top 10 are Tata Motors (sixth), ONGC (seventh), Tata Steel (eighth), Coal India (ninth) and Hindalco Industries (10th).The magazine said that total sales of Fortune 500 companies had grown at 23.77 per cent year-on-year. The larger companies fared better than the ones lower down the list; companies that earned above Rs.10,000 crore showed a higher increase in revenue than the full 500.Also, the government continued to play a big role in business, with a total of 83 state-owned firms on this years list, Fortune India said. Coal to be king by 2017 Powered by the growth in emerging market giants China and India, coal is set to surpass oil as as the worlds top fuel source by around 2017, the International Energy Agency forecast.Coals
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share of the global energy mix continues to rise, and by 2017 coal will come close to surpassing oil as the worlds top energy source, the International Energy Agency (IEA) said, releasing its annual Medium-Term Coal Market Report (MCMR).China and India lead the growth in coal consumption over the next five years. The report said China will surpass the rest of the world in coal demand during the outlook period, while India will become the largest seaborne coal importer and secondlargest consumer, surpassing the US. This report sees that trend continuing. In fact, the world will burn around 1.2 billion more tonnes of coal per year by 2017 compared to today, equivalent to the current coal consumption of Russia and the US combined. Coals share of the global energy mix continues to grow each year, and if no changes are made to current policies, coal will catch oil within a decade, Hoeven said. Although the growth rate of coal slows from the breakneck pace of the last decade, global coal consumption by 2017 stands at 4.32 billion tonnes of oil equivalent, versus around 4.4 billion tonnes for oil, based on IEA medium-term projections .The IEA expects that coal demand will increase in every region of the world except in the US, where coal is being pushed out by natural gas.The report notes that in the absence of a high carbon price, only fierce competition from lowpriced gas can effectively reduce coal demand. Hoeven noted that the reports forecasts are based on a troubling assumption, namely, that carbon capture and sequestration (CCS) will not be available during the outlook period. Carbon capture and storage (CCS) (or Carbon capture and sequestration), is the process of capturing wastecarbon dioxide (CO2) from large point sources, such as fossil fuel power plants, transporting it to a storage site, and depositing it where it will not enter the atmosphere, normally an underground geological formation. The aim is to prevent the release of large quantities of CO2 into the atmosphere (from fossil fuel use in power generation and other industries). It is a potential means of mitigating the contribution of fossil fuel emissions to global warmingand ocean acidification. Although CO2 has been injected into geological formations for several decades for various purposes, including enhanced oil recovery, the long term storage of CO2 is a relatively new concept. Bifurcation of News Corp, Indian to be the CFO News Corp would undergo a restructure of the top management of the company. The company has decided that the top management would split into the two publically traded firms. The bifurcation would separate newspapers like The Wall Street Journal, The New York Post and The Times of London from the fast-growing entertainment unit. Thus there would be one publishing company whose CEO would be Dow Jones editor-in-chief as well as the managing editor of The Wall Street Journal,Robert Thomson. The other, named as Fox Group, will be the
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entertainment and media company. An Indian, Bedi Ajay Singh, who had recently also been at the designation of President, Finance and Administration and Chief Financial Officer for MGM Studios would be given the role of Chief Financial Officer at the new publishing company.

WHO clearance will boost Indian vaccine exports In a major boost to the countrys private vaccine manufacturing pharmaceutical companies, the World Health Organisation (WHO) has said that Indias national regulatory authority Central Drugs Standard Control Organisation (CDSCO) and its affiliated institutions meet the prescribed international standards. India is a major vaccine producer with 12 major vaccine manufacturing facilities. These vaccines are used for the national and international market, reaching nearly 150 countries. Every second child in the world is vaccinated for measles using a vaccine produced in India.India is the first country in 2012 to have passed the strict levels of seven indicators which are made more stringent every time in a single round of assessment which is done by a team of 12 international experts headed by a WHO member. Passing of this test means that 12 private vaccine manufacturing units from India are eligible and retain the pre-qualification status for supplying vaccines to international bodies like the WHO, UNICEF and the World Bank. WHO pre-qualification is a guarantee that a specific vaccine meets international standards of quality, safety and efficacy.The clearance by the WHO is expected to boost investment in the pharmaceutical sector and push exports higher, which touched $13 billion last year and is expected to touch $26 billion this year. Two-thirds of the vaccines produced in India are exported. The WHO has established benchmarks that define international expectations for a functional vaccine regulatory system. It also conducts regular external audits of national regulatory systems and ensures they meet the necessary standards. The regulatory functions of Indias National Regulatory Authority (NRA) the CDSCO and its affiliated institutions were assessed for compliance against the WHO indicators and marketing authorisation and licensing, postmarketing surveillance, including adverse events following immunisation and so on. In 2007, when the CDSCO had failed to meet the WHO-prescribed standards, it had led to the WHO suspending manufacturing licenses of three public sector vaccine manufacturing units on account of non-compliance of good manufacturing practices (GMP) norms. India had made up for the deficiency in the 2009 assessment and the units were re-started.

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Industrial growth bounces back to 8.2 per cent in October

Boosted by the growth in the power and manufacturing sectors, the Index of Industrial Production (IIP) posted a robust 8.2 per cent growth in October compared to a contraction of 0.7 per cent in September.

The growth in the industrial production in October has been mainly on account of good performance of the manufacturing and power sectors, and higher output of capital as well as consumer goods. The manufacturing sector, which constitutes over 75 per cent of the index, grew by a robust 9.6 per cent in October, as against a contraction of 6 per cent in the same month last year. However, the output of this key sector remained low at 1 per cent in the April-October period of this fiscal as against 3.8 per cent growth in the same period in 2011-12. The factory output had contracted by 5 per cent in October last year. The IIP had expanded by 9.5 per cent in June 2011. Industrial output growth in the AprilOctober period this fiscal, however, was 1.2 per cent, less than 3.6 per cent in the same period in 2011-12. On the impact of October growth rate on gross domestic product (GDP) for the fiscal, Mr. Chidambaram said: One swallow doesnt make a summer. There are signs of green shoots. Let us be happy about the moment. But let us see how we go forward in the next four months.

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He said this fiscal IIP had shown positive growth only in May at 2.5 per cent and August at 2.3 per cent. Let us see what the next four months bring us. Investments are taking place, capacity is being created and consumption is happening in consumer durables and non- durables, he said. The capital goods output also showed remarkable improvement, up 7.5 per cent in October, as against a massive contraction of 26.5 per cent in October 2011. However, output of capital goods has contracted in the April-October period by 11.4 per cent, as against a dip in production by 0.5 per cent in the year-ago period. Electricity generation is up 4.7 per cent, as against 8.9 per cent in the year-ago period. Power generation expanded by 5.5 per cent in October as compared to 5.6 per cent in the same month last year. Another segment which performed well is consumer goods as its output registered double-digit growth of 13.2 per cent in October, as against a meagre 0.1 per cent growth year ago. During April-October this fiscal, growth in the consumer goods segment remained flat at 4 per cent. However, mining contracted by 0.1 per cent in October, compared to a decline in production by 5.9 per cent in the same month last year. The sectors production in April-October has declined by 0.7 per cent, as against a contraction of 2.2 per cent in the year-ago period. Overall, 17 of the 22 industry groups in the manufacturing sector have shown positive growth in October, compared to the same month last year. Consumer durables is another segment which showed smart recovery by registering a growth of 16.5 per cent in October, compared to a contraction of 0.4 per cent a year ago. The output of these goods registered a growth of 5.6 per cent during April-October, as against 4.5 per cent in the same period last fiscal. The consumer non-durables output growth also remained in double digits at 10.1 per cent in October, as against a meagre 0.5 per cent growth in the same month last year. This segment grew by 2.7 per cent in the seven month period of this fiscal, as against 3.6 per cent during April-October, 2011-12. The basic goods growth also improved to 4.1 per cent in October, compared to 1.2 per cent a year ago. During the April-October period, this segment recorded growth of 3 per cent, compared to 6.3 per cent in the first seven months of last fiscal. The contraction in industrial production during September this year was revised downward to 0.7 per cent, from the provisional estimate of 0.4 per cent released last month.

Industrial growth bounces back to 8.2 per cent in October


Boosted by the growth in the power and manufacturing sectors, the Index of Industrial Production (IIP) posted a robust 8.2 per cent growth in October.I am very encouraged by the indications of the green shoots in economy in terms of production. IIP figures are very encouraging, Finance Minister P. Chidambaram told reporters commenting on surge in IIP figures to 8.2 per cent compared to a contraction of 0.7 per cent in September.

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The growth in the industrial production in October has been mainly on account of good performance of the manufacturing and power sectors, and higher output of capital as well as consumer goods. The manufacturing sector, which constitutes over 75 per cent of the index, grew by a robust 9.6 per cent in October, as against a contraction of 6 per cent in the same month last year. However, the output of this key sector remained low at 1 per cent in the April-October period of this fiscal as against 3.8 per cent growth in the same period in 2011-12. The factory output had contracted by 5 per cent in October last year. The IIP had expanded by 9.5 per cent in June 2011. Industrial output growth in the April-October period this fiscal, however, was 1.2 per cent, less than 3.6 per cent in the same period in 201112. He said this fiscal IIP had shown positive growth only in May at 2.5 per cent and August at 2.3 per cent. Let us see what the next four months bring us. Investments are taking place, capacity is being created and consumption is happening in consumer durables and non- durables, he said. The capital goods output also showed remarkable improvement, up 7.5 per cent in October, as against a massive contraction of 26.5 per cent in October 2011. However, output of capital goods has contracted in the April-October period by 11.4 per cent, as against a dip in production by 0.5 per cent in the year-ago period. Electricity generation is up 4.7 per cent, as against 8.9 per cent in the year-ago period. Power generation expanded by 5.5 per cent in October as compared to 5.6 per cent in the same month last year. Another segment which performed well is consumer goods as its output registered double-digit growth of 13.2 per cent in October, as against a meagre 0.1 per cent growth year ago. During April-October this fiscal, growth in the consumer goods segment remained flat at 4 per cent. However, mining contracted by 0.1 per cent in October, compared to a decline in production by 5.9 per cent in the same month last year. The sectors production in April-October has declined by 0.7 per cent, as against a contraction of 2.2 per cent in the year-ago period. Overall, 17 of the 22 industry groups in the manufacturing sector have shown positive growth in October, compared to the same month last year. Consumer durables is another segment which showed smart recovery by registering a growth of 16.5 per cent in October, compared to a contraction of 0.4 per cent a year ago. The output of these goods registered a growth of 5.6 per cent during April-October, as against 4.5 per cent in the same period last fiscal. The consumer non-durables output growth also remained in double digits at 10.1 per cent in October, as against a meagre 0.5 per cent growth in the same month last year. This segment grew by 2.7 per cent in the seven month period of this fiscal, as against 3.6 per cent during April-October, 2011-12. The basic goods growth also improved to 4.1 per cent in October, compared to 1.2 per cent a year ago. During the April-October period, this segment recorded growth of 3 per cent, compared to 6.3 per cent in the first seven months of last fiscal.

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The contraction in industrial production during September this year was revised downward to 0.7 per cent, from the provisional estimate of 0.4 per cent released last month.

What is IIP? The Index of Industrial Production (IIP) conveys the status of production in the industrial sector of an economy in a given period of time, in comparison with a fixed reference point in the past. The IIP numbers, released every month in India, for instance, use 1993-94 as the base year for comparison. The IIP figures are generally seen as an important but short-term indicator of whether industrial activity in a country has risen or dipped, till more detailed studies or surveys are available.

How and when is it computed? The IIP estimate for a given month is always released within six weeks from that month. The data for the IIP estimate is supplied by 15 source agencies which include Department of Industrial Policy and Promotion, Indian Bureau of Mines, Central Statistical Organisation and Central Electricity Authority, among others. However, given the fact that all the data regarding production may not be available at the time the index for a particular month is being created, a provisional index is first created and released, which is then updated twice in the subsequent months. How has the IIP evolved with time? The IIP was first compiled and released using 1937 as the base year and included 15 industries. Subsequently, it has been updated at least seven times, both with regards to the base year as well as the nature of items included, to keep the data relevant. In the latest norms outlined by the ministry of statistics with 1993-94 as the base year, one of the fundamental criteria for selection of items is that it should account for at least Rs 80 crore of gross value of output at the item level and Rs 20 crore of gross value added at the ultimate digit level. Another essential feature was that monthly production data for the items needed to be available on a sustained basis. It also included attempts at representing the small scale and unorganised manufacturing sector. While the items which are taken into consideration are classified into item groups under the three heads of mining, manufacturing and electricity, they have also been classified under use-based categories like basic goods, capital goods, intermediate goods, consumer durables and consumer non-durables. Why are IIP figures in the news? There has been a lot of buzz surrounding the IIP figures released for August as it reported a 10.4% growth in industrial output, in comparison to a growth of 7.2% in July. In fact, August has seen the highest industrial production growth in almost two years. The consumer durable and capital good sectors, particularly, have contributed to this spurt. Many experts also see this as a response to the government's fiscal stimulus measures. This may lead to GDP growth slightly higher than the estimated 6% for the current financial year.

RBI may hike NPA provision ratio if needed: Chakrabarty


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RBI Deputy Governor K C Chakrabarty has come down heavily on banks showing higher profits without providing adequately for bad loans, and said if need be, the central bank may hike provision coverage ratio (PCR) levels. The RBI had done away with its earlier requirement of forcing banks to maintain the PCR, or the ratio of provision to gross non-performing assets (NPAs), at 70%.The apex bank had increased the PCR to 70% after the Lehman crisis in 2008 and this was applicable till September, 2011. While almost all private banks have higher PCR, majority of the state-run lenders could not meet this deadline.A number of public sector banks, especially the smaller ones, have shown a drop in PCR in the second quarter earnings and posted a good jump in profits as a result. The RBI has floated a discussion paper to explore having dynamic provisioning which requires banks to keep aside money during good times for a rainy day, rather than providing after an account has gone bad. Speaking about NPAs of banks, Chakrabarty attributed a majority of them to poor administration and risk management practices of lenders and went to the extent of terming it as 'non-performing administration.'Lending rates would have been far lower if banks had got their NPAs down, Chakrabarty said. "It is a burden on the people who are paying the money.People forget that if NPAs would have been 1%, banks' lending rates would have been 4% lower with the same inflation, and same repo rate. NPA, Non Performing Assets, A loan or lease that is not meeting its stated principal and interest payments.Banks usually classify as non performing assets any commercial loans which are more than 90 days overdue and any consumer loans which are more than 180 days overdue. More generally an asset which is not producing income. What Does Non Performing Asset Mean? A debt obligation where the borrower has not paid any previously agreed upon interest and principal repayments to the designated lender for an extended period of time. The nonperforming asset is therefore not yielding any income to the lender in the form of principal and interest payments. Investopedia explains Nonperforming Asset For example, a mortgage in default would be considered non-performing. After a prolonged period of non-payment, the lender will force the borrower to liquidate any assets that were pledged as part of the debt agreement. If no assets were pledged, the lenders might write-off the asset as a bad debt and then sell it at a discount to a collections agency. Non Performing
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Asset means an asset or account of borrower, which has been classified by a bank or financial institution as sub-standard, doubtful or loss asset, in accordance with the directions or guidelines relating to asset classification issued by The Reserve Bank of India. What is Provision Coverage Ratio (PCR) ? PCR is the ratio of provision to gross non-performing assets (NPAs). A key relationship in analyzing asset quality of the bank. A measure that indicates the extent to which the bank has provided against the troubled part of its loan portfolio. A high ratio suggests that additional provisions to be made by the bank in the coming years would be relatively low (if gross NPAs do not rise at a faster clip). Thus, PCR refers to the percentage of the loan amount that the bank has set aside as provisions to meet an eventuality where the loan might have to be written off it becomes irrecoverable. It is a measure that indicates the extent to which the bank has provided (set aside money to bear the loss) against the troubled part of its loan portfolio. PCR = Cumulative provisions / Gross NPAs Thus, more the NPAs lesser will be the PCR. Competition Bill introduced in Lok Sabha A Bill to amend the Competition Act so as to expand the scope of the provision on abuse of dominant position was introduced in the Lok Sabha today. This Bill, which was introduced by Corporate Affairs Minister Sachin Pilot, seeks to amend the existing provision on abuse of dominant position to provide that no enterprise or group either jointly or singly shall abuse its dominant position. Currently, the Competition Act only provides that no enterprise or group shall abuse its dominant position. The Bill also seeks to confer power on the Union Government to specify, in consultation with the Competition Commission, different value of assets and turnover for any class of enterprises for the purpose of regulation of combinations. Also, the time period within which the Competition Commission has to pass orders on certain combinations is proposed to be brought down to 180 days from the current 210 days. Cabinet Committee clears new urea investment policy

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The Cabinet Committee on Economic Affairs (CCEA), on Thursday, approved a urea investment policy, which is likely to incentivise fertilizer companies to set up new plants and expand existing capacity.India imports over 30 per cent of its urea requirement and the policy aims at reducing that. But it is unlikely to have any impact on existing prices.The policy, which aims to attract fresh investment of about Rs.35,000 crore to increase domestic production by eight million tonnes, has been cleared as the previous policy failed to attract the much needed funds. Under the new policy, the government will give 12-20 per cent post-tax return on fresh capital infused by the manufacturers for setting up of new plants as well as for expansion and revamp of the existing ones.To ensure this return, the government would cover the entire cost of natural gas, which is the main feedstock of urea, and accounts for 80 per cent of the cost. The government controls the urea sector and has fixed the maximum retail price (MRP) at Rs.5,360 a tonne.The difference between the MRP and the cost of production is given as subsidy to manufacturers. For determining the cost of production of new plants to be set up after the policy comes into effect, the government has set a floor and ceiling price of urea, based on the price of natural gas plus 12-20 per cent equity returns. However, sources said the Ministry made some changes in the draft policy after inter-ministerial consultation. It proposed covering entire cost of natural gas, while the GoM had favoured providing subsidy on gas price within the range of $6.5-14 mmBtu. The country produces 22 million tonnes of urea, against the requirement of 32 million tonnes. Meanwhile, the CCEA also cleared a proposal to extend additional subsidy to Fertilisers and Chemicals Travancore (FACT) till June, 2013, to cover the cost of naptha-based complex fertilizer. However, in the case of Madras Fertiliser (MFL) and Gujarat Narmada Valley Fertilizers and Chemicals, both have been asked to submit a report to the Committee of Secretaries, sources said. In the last two years, the government has been giving additional subsidy to naptha-based complex fertilizer makers such as FACT and MFL to cover higher cost of production with a condition that they will convert their units into gas-based. Naphtha normally refers to a number of flammable liquid mixtures of hydrocarbons, i.e., a component of natural gas condensate or a distillation product from petroleum, coal tar or peat boiling in a certain range and containing certain hydrocarbons. It is a broad term
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covering among the lightest and most volatile fractions of the liquid hydrocarbons in petroleum. Naphtha is a colorless to reddish-brown volatile aromatic liquid, very similar to gasoline. In petroleum engineering, full range naphtha is defined as the fraction of hydrocarbons in petroleum boiling between 30 C and 200 C. It consists of a complex mixture of hydrocarbon molecules generally having between 5 and 12 carbon atoms. It typically constitutes 1530% of crude oil, by weight. Light naphtha is the fraction boiling between 30 C and 90 C and consists of molecules with 56 carbon atoms. Heavy naphtha boils between 90 C and 200 C and consists of molecules with 612 carbons. Naphtha is used primarily as feedstock for producing high octane gasoline (via the catalytic reforming process). It is also used in the bitumen mining industry as a diluent, thepetrochemical industry for producing olefins in steam crackers, and the chemical industry for solvent (cleaning) applications. Common products made with it include lighter fluid, fuel for camp stoves, and some cleaning solvents. Urea or carbamide is an organic compound with the chemical formula CO(NH2)2. The molecule has two NH2 groups joined by acarbonyl (C=O) functional group. Urea serves an important role in the metabolism of nitrogen-containing compounds by animals and is the main nitrogen-containing substance in the urine of mammals. It is a colorless, odorless solid, although the ammonia that it gives off in the presence of water, including water vapor in the air, has a strong odor. It is highly soluble in water and practically non-toxic (LD50 is 15 g/kg for rat). Dissolved in water, it is neither acidic nor alkaline. The body uses it in many processes, the most notable one being nitrogen excretion. Urea is widely used in fertilizers as a convenient source of nitrogen. Urea is also an important raw material for thechemical industry.More than 90% of world production of urea is destined for use as a nitrogen-release fertilizer. Urea has the highest nitrogen content of all solid nitrogenous fertilizers in common use. Therefore, it has the lowest transportation costs per unit of nitrogen nutrient. The standard crop-nutrient rating of urea is 46-0-0. Many soil bacteria possess the enzyme urease, which catalyzes the conversion of the urea molecule to two ammonia molecules and one carbon dioxide molecule, thus urea fertilizers are very rapidly transformed to the ammonium form in soils. Among soil bacteria known to carry urease, some ammonia-oxidizing bacteria (AOB), such as species ofNitrosomonas, are also able to assimilate the carbon dioxide released by the reaction to make biomass via the Calvin Cycle, and harvest energy by oxidizing ammonia (the other product of urease) to nitrite, a process termed nitrification. Nitrite-oxidizing bacteria, especially Nitrobacter, oxidize nitrite to nitrate, which is extremely mobile in soils and is a major cause of water pollution from agriculture. Ammonia and nitrate are readily absorbed by plants, and are the dominant sources of nitrogen for plant growth. Urea is also used in many multi-component solid fertilizer formulations. Urea is highly soluble in water and is, therefore, also very suitable for use
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in fertilizer solutions (in combination withammonium nitrate: UAN), e.g., in 'foliar feed' fertilizers. For fertilizer use, granules are preferred over prills because of their narrower particle size distribution, which is an advantage for mechanical application.

The Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Bill, 2011

The Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Bill, 2011 was introduced by the Minister of Finance, Mr. Pranab Mukherjee in the Lok Sabha on December 12, 2011. This Bill seeks to amend the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 and the Recovery of Debts Due to Banks and Financial Institutions Act, 1993.

The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 does not allow securitisation or reconstruction companies to convert the debt of the borrower company into equity. The Bill proposes to provide for conversion of any part of debt into shares of a borrower company. The Bill proposes to include multi-state co-operative banks in the definition of banks in the existing Act. The 2002 Act requires banks and financial institutions to consider representations from borrowers and communicate their response within a period of seven days. The Bill seeks to increase this period within which the response is to be sent to the representation of the borrower to 15 days. Currently, banks are not empowered to accept any immovable property in realisation of the claim against the defaulted borrower in the situation where banks are unable to find a buyer for such assets. The Bill proposes to empower banks and financial institutions to accept the immovable property in full or partial satisfaction of the banks claim against

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the defaulting borrower in times when they cannot find a buyer for the securities.

The Bill also seeks to enable banks or any person to file a caveat so that before granting any stay, the bank or person is heard by the Debt Recovery Tribunal.

The Bill proposes to provide for registration of transactions of securitisation, reconstruction or creation of security interest in the Central Registry, which are subsisting on or before the establishment of Central Registry. It also seeks to give powers to the central government to extend the time for filing of such transaction with the Central Registry.

The central government may exempt a class or classes of banks or financial institutions from the provisions of this Act on grounds of public interest. The Bill proposes to include multi-State co-operative banks to the existing definition of bank in the Recovery of Debts Due to Banks and Financial Institutions Act, 1993. The Bill also seeks to permit multi state co-operative banks with respect to debts due before or after the commencement of the proposed legislation, to opt to initiate proceedings either under the Multi State Co-operative Societies Act, 2002 or under the Debt Recovery Tribunal. The Bill proposes to enable banks and financial institutions to enter into settlement or compromise with the borrower. It also seeks to empower the Debts Recovery Tribunal to pass an order acknowledging any such settlement or compromise. The Bill also provides that the recovery proceedings pending in relation to recovery of debts due to any multi State co-operative banks, before this Act comes into force, shall continue in a manner as if such amendments had not come into force.

CSIR, HP develop new system for better healthcare


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The Council of Scientific and Industrial Research (CSIR) and IT major Hewlett Packard on Tuesday announced the development of a system that would provide affordable healthcare to the rural poor and simultaneously facilitate better medicines for various ailments. The system is based on a combination of the latest in IT, cloud computing, and standard shipping containers, which have become unusable for normal freight movement. While the containers would be used for setting up basic health centres in remote areas at a much faster pace and at much lesser cost than a conventional brick and mortar centre, cloud computing would help scientists working in distant laboratories access physiological data required to make new medicines for different ailments. The system would also feature a telemedicine studio, a laboratory and a pharmacy. Director General of CSIR Samir Brahmachari said that with the new system, the Council was now positioned to take up novel research on affordable medicines, besides delivering cheap healthcare products and services at the doorsteps. A pilot project of the system has been tried at a village in Kaithal district of Haryana in partnership with O.P. Jindal Gramin Jan Kalyan Sansthan, an NGO for rural welfare run by the Jindal group. The village comes under the Parliamentary constituency of Mr. Jindal. 3M India, and Orion eService are also involved in the project. A press release issued at the launch function said more than 4,000 patients benefited in the first 100 days.

RBI extends deadline for new cheque standard The Reserve Bank of India (RBI), extended the deadline given to migrate to new-look cheques (CTS-2010 Standard cheques), with more security and standardised features, to March 31, 2013. Earlier, it had set a December 31 deadline. However, the RBI said that the residual non-CTS-2010 Standard cheques that are presented in the clearing system beyond this extended period would continue to be accepted for the clearing but would be cleared at less frequent intervals.Banks were in the process of issuing new-look cheques to all its customers by December 31, 2012. Cheque Truncation System (CTS)-2010 standard is a set of benchmarks towards achieving standardisation of cheques issued by banks across the country. These include provision of mandatory minimum security features on cheque forms such as quality of paper, watermark, banks logo in invisible ink, void pantograph and standardisation of field placements on cheques.
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Adherence to CTS-2010 Standards has inherent advantages as the security features in cheque forms help the presenting banks to identify the genuineness of the drawee banks instruments while handling them in the image-based scenario. The homogeneity in security features act as deterrent against frauds, and the fixed field placement specifications facilitate straight-throughprocessing at the drawee banks end through the use of optical/image character recognition technology, the RBI had said in a notification earlier. No info on flaws in Samagra Gramin Vikas Yojana: RBI The Reserve Bank of India (RBI) has no information on irregularities, if any, in its Samagra Gramin Vikas Yojna being implemented in 115 villages across the country, as per its reply to an RTI query by rights activist Radhakanta Tripathy. The main purpose of the scheme is financial inclusion, financial literacy, maximising relationships, extending community outreach and reiterate to the banks and other financial service providers and local authorities of the significance and seriousness that the RBI attaches to provision of financial services and financial education, the RBI has said. It said that visits by its top management have been undertaken in 2009 as an initiative for rural development in the platinum jubilee celebrations of the RBI. Replying to a query as to whether performance appraisal had been carried out annually on the development of the villages adopted so far, the RBI said that the performance of these villages is monitored with a quarterly report. Replying to another query whether any irregularities were found in the audit/appraisal process in the implementation of the scheme so far, the RBI said that it has no information on this. Of the 115 villages, three were adopted in Andaman Nicober, six in Andhra Pradesh, three in Assam, four in Bihar, three in Chhatishgarh, two in Chandigarh, three in Dadra Ngar Haveli, three in Daman & Diu, two in Delhi, three in Goa, six in Gujarat, two in Haryana, two in Himachal Pradesh, three in Jammu & Kashmir, three in Jharkhand, six Karnataka, three in Kerala, two in Lakshadweep, four in MP, four in Maharashtra, three in Manipur, two in Meghalaya, three in Mizoram, three in Nagaland, five in Odisha, three in Puducherry, four in Punjab, five in Rajasthan, three in Sikkim, three in Tamil Nadu, three Tripura, five in UP, one in Uttarakhand and five in West Bengal.

Udhampur-Baramulla rail link runs into rough weather

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Already way behind schedule, the Udhampur-Srinagar-Baramulla-Rail Link (USBRL), aimed at connecting the Kashmir Valley with the rest of the country with an all-weather route, is likely to run into further complexities and higher cost overruns, says the Comptroller and Auditor General. In its performance audit, the CAG observed that the national project, scheduled to be completed in 2007 at an estimated cost of Rs. 3,077 crore, was now expected to be completed only in 201718 at a cost of Rs. 19,565 crore.The report, tabled in Parliament on Thursday, said poor planning resulted in time delay and cost overruns. The progress was just 12-14 per cent till July 2012. Deficient planning affected land acquisition and finalisation of design and drawing. There were major changes in the scope of work as field investigations were taken up during construction. Geo-technical investigations of the proposed alignment were not conducted before the commencement of work, but were done simultaneously, resulting in uncertainty in progress and that impacted finalisation of land acquisition, the design and drawing of bridges and tunnels, and construction contracts, most of which were awarded even before ground investigations were concluded. This was noted particularly in the Katra-Qazigund section, forcing abandonment of work already executed and termination of contracts, inflicting a Rs. 1514.40-crore loss on the taxpayers as the project is being funded directly from the Consolidated Fund of India. Jammu Udhampur Srinagar Baramulla Railway Link (JUSBRL), the railway starts from Jammu and will travel for 345 km (214 mi) to Baramulla on the northwestern edge of the Kashmir Valley. The route crosses major earthquake zones, and is subjected to extreme temperatures of cold and heat and inhospitable terrain, making it an extremely challenging engineering project. Forming a part of Firozpur division of the Northern Railway zone, the line has been under construction since 1983 by various railway companies. It will link the state's winter capital of Jammu with the summer capital of Srinagar and beyond. External debt remains within manageable limits: report Conceding that Indias external vulnerability indicators in recent times have witnessed some signs of stress owing to the impact of a deepening eurozone sovereign debt crisis and the global slowdown, the Finance Ministry, maintained that global economic risks could rise further with a weakening recovery, sluggish growth prospects and a continuing high debt and gross financing needs in several advanced economies. In its annual publication titled Indias external debt: a status report 2011-12, the Department of Economic Affairs (DEA), in such a scenario, has pointed to the aggravation of external sector
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risks which is reflected in upward movement in the countrys current account deficit (CAD), falling reserve cover for imports and external debt, a depreciating rupee exchange rate, rising levels of external debt and the increasing share of short-term and commercial borrowing in the total external debt quantum. The status report presents a detailed analysis of Indias external debt position as at the end of March this year and is based on the data released by the Reserve Bank of India (RBI) on June 29, 2012. Apart from analysing the trend, composition and debt service of the countrys external debt, it provides a comparative picture of its debt vis-a-vis other developing countries and analyses the external sector vulnerabilities in view of the fluid global economic situation. However, despite these developments, the report sought to take comfort in the fact that Indias external debt has remained within manageable limits which is indicated by the external debt-to-GDP (gross domestic product) ratio of 20 per cent and a debt-service ratio of 6 per cent in 2011-12. In fact, a country-wise comparison has also shown that India continues to be among the less vulnerable countries with its external debt indicators comparing well with other indebted countries, the report said. As per the report, Indias external debt stock at end-March 2012 stood at $345.8 billion, an increase of $39.9 billion or 13 per cent over the end-March 2011 level of $305.9 billion. The rise, it said, could be attributed mainly to increase in commercial borrowings, shortterm debt, and non-resident Indian (NRI) deposits. Of this, the long-term external debt, at $267.6 billion at the end of March this year, reflected an increase of 11.1 per cent, while the short-term debt, at $78.2 billion, marked an increase of 20.3 per cent over the level that prevailed at the end of March last year. The long-term debt accounted for 77.4 per cent of total external debt at end-March 2012. At end-March 2012, the share of commercial borrowings in total external debt stock stood at 30.2 per cent, followed by short-term debt (22.6 per cent), NRI deposits (16.9 per cent) and multilateral debt (14.6 per cent). The rising share of commercial borrowing over the years is an indication of a maturing market economy and the increasing role that the corporate sector is playing in sustaining the growth of the economy As for government (sovereign) external debt, it stood pegged marginally higher at $81.9 billion at end-March 2012 as compared to $78.1 billion at the end of the same month a year ago. However, the share of government external debt in the countrys total external debt quantum was lower at 23.7 per cent at end-March 2012 as compared to 25.5 per cent at endMarch 2011. The report claimed that Indias key debt indicators compared well with other indebted developing countries.
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According to the World Banks Global Development Finance, 2012, Indias position was fifth in terms of absolute debt stock among the top 20 developing debtor countries. However, in terms of ratio of external debt to gross national income, Indias position was the fifth lowest. How to calculate the current account Normally,the current account is calculated by adding up the 4 components of current account: Goods, services, income and current transfers. Goods Being movable and physical in nature, goods are often traded by countries all over the world. When a transaction of certain good's ownership from a local country to a foreign country takes place, this is called as an "export." The other way around, when a good's owner changes to a local inhabitant from a foreigner, is defined to be an "import." In calculating current account, exports are marked as credit (the inflow of money) and imports as debit. (the outflow of money.) Services When an untouchable service (e.g. tourism) is used by a foreigner in a local land and the local resident receives the money from a foreigner, this is also counted as an export, thus a credit. Income A credit of income happens when an individual or a company of domestic nationality receives money from a company or individual with foreign identity. A foreign company's investment upon a domestic company or a local government is also considered as a credit. Current Transfers Current transfers take place when a certain foreign country simply provides currency to another country with nothing received as a return. Typically, such transfers are done in the form of donations, aids, or official assistance. A formula for calculating current accounts Thus, one can see that a certain country's current account can be calculated by the following formula:

When CA is the current account, X and M the export and import of goods and services respectively, NY the net income from abroad, and NCT the net current transfers.

Prithvi-II flight-tested successfully


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The Strategic Forces Command (SFC) successfully flight-tested nuclear weapons-capable Prithvi-II missile from Chandipur, off the Odisha coast. The surface-to-surface ballistic missile, which was picked up randomly from the production lot, was fired from a road mobile launcher and tested for its full range of 350 km. The entire exercise was carried out by one of the regiments of the SFC, which handles nuclear-tipped missiles, as part of regular training. The single-stage, liquid propelled missile can carry a payload of 500 kg. In trial, it carried a dummy payload and splashed down within a few metres of the target point in the Bay of Bengal with accuracy. The SFC successfully test-fired nuclear weapons-capable Agni-II for its full distance of 700 km the previous week. ONGC wants exemption from National Offset Policy The Oil and Natural Gas Corporation (ONGC) has asked the Petroleum and Natural Gas Ministry for complete exemption from following the National Offset Policy (NOP)saying such a policy would have a direct impact on companys operations and performance. What is the core of NOP? The NOP is aimed at supporting domestic industries and manufacturers. It was given an inprinciple nod in 2006 with an aim to boost Indias access to critical technologies and resources. As per the policy, indigenous industries will get a share of the contracts the global players secure from India, requiring them to compulsorily use the Indian supplies as a percentage of the deal. Offsets will require any foreign seller of products and services in India to buy part of the material at a pre-determined percentage of the sale value from the Indian manufacturers and suppliers. It is expected that this policy will help in upgrading technology, skill and competitiveness in various sectors of the economy and ensure that the foreign suppliers enter into deals with the Indian companies for sourcing part of their requirements. Why ONGC wants exemption? ONGC states that following NOP could affect its operations on the following grounds: Goods and services required for ONGCs operations are highly specialized in nature, for which sources are very limited in the global market. Insisting for additional obligations from seller (in form of Offset policy) could lead to non-participation by many of the prospective bidders thereby reducing fair competition in tenders.
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Additional obligations of the seller could elevate costs, since the bidders would increase their bids on account of such conditions. ONGC has to finish the projects within the stipulated time frame for the blocks awarded under New Exploration Licensing Policy (NELP). As ONGC follows open bidding system in all high value cases and hence awards contracts within a limited validity period on the basis of techno-commercial bid evaluation criteria. Therefore, the exercises as envisaged in the NOP may delay the tender finalization within the stipulated period. IPv6 available in India The new version internet address IPv6 is now available in India. This version will provide advantage over previous IPv4 version as it will accommodate larger number of users each assigned with specific address. IPv4 provides limited space and service providers often assign single IP address to many users, making it difficult to identify the end user. But with IPv6, enormous number of distinct IP addresses will be made available making it easier for the security agencies to identify the user. Who will be responsible for issuing these addresses? In India these addresses will be assigned by Indian Registry for Internet Names and Numbers (IRINN). These addresses will be many times cheaper than that of IPv4.

Mother and Child Protection Cards The Mother and Child Protection Card (MCP Card) has been introduced through a collaborative effort of the Ministry of Women and Child Development and the Ministry of Health & Family Welfare, Government of India The MCP card is a tool for informing and educating the mother and family on different aspects of maternal and child care and linking maternal and childcare into a continuum of care through the Integrated Child Development Services(ICDS) scheme of Ministry of Women and Child Development and the National Rural Health Mission(NRHM) of the Ministry of Health & Family Welfare (MoHFW). The card also captures some of key services delivered to the mother & baby during Antenatal, Intranatal & Post natal care for ensuring that the minimum package of services are delivered to the beneficiary.
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MCP card has already been disseminated in the year 2010-11 for implementation by the States. The MCP card helps in timely identification, referral and management of complications during pregnancy, child birth and post natal period. The card also serves as a tool for providing complete immunization to infants and children, early and exclusive breast feeding, complementary feeding and monitoring their growth. NCIPC to implement a 5-Year Project for Cyber Security of Critical Sectors // Critical infrastructure protection (CIP) // The central government has decided to establish five-year project for strengthening the overall cyber security structure of critical sectors of India. This move has come following increase in the number of incidents of cyber attacks as well as security threats. In 2011, India faced around 13000 cyber incidents. Who will implement the Project? It will be realized by National Critical Information Infrastructure Protection Centre (NCIPC).NCIIPC functions under the guidance of National Technical Research Organization (NTRO). NCIPC is the nodal agency which coordinates the cyber security operations related to critical infrastructures in India.NCIPC will set up sectoral Computer Emergency Response Teams (CERTs) and will also install sensors on critical systems for getting real-time information regarding cyber attack of any kind for preparing a quick response.NCIPC of India has been proposed. NCIPC will ensure critical infrastructure protection and critical ICT infrastructure protection in India. Sectors whose cyber security falls under NCIPC are: Energy (natural gas, coal, oil and power),Finance and banking,Transportation (civil aviation and railways),Space,Law enforcement ,Security ,Telecom ,Defense What is Critical infrastructure protection (CIP) ? Critical infrastructure protection (CIP) is a concept that relates to the preparedness and response to serious incidents that involve the critical infrastructure of a region or nation
Govt extends 2 % interest subsidy for exports for one more year

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The Central Government has announced a number of incentives to control the decline in exports, which will fall short of the $360 billion target set for the current fiscal. It has extended the 2 % interest subsidy scheme offered on exports, which was due to expire in March 2013, for one more year. As part of the incentive package, the government announced the introduction of a pilot scheme of 2% interest subvention for project exports through EXIM Bank for countries of SAARC region, Africa and Myanmar. Why this incentive? The Indian exports, majorly merchandise, are facing a decline due to economic slowdown and fall in demands. The interest subsidy is expected to make Indian exporters more competitive in foreign markets. India is already under pressure due to widening trade deficit which touched $175.5 billion between January-November. The objective of the scheme is to boost exports to these countries by providing long-term concessional credit through EXIM Bank as co-financing in infrastructure sectors such as housing, irrigation, road projects and renewable energy

Commission headed by Justice Usha Mehra to opine measures to make Delhi safe for women In response to furor and protest against the incidence of the gang-rape of a 23-year-old woman in Delhi, the Union Cabinet set up a Commission of Inquiry which will be headed by the former Delhi High Court judge, Justice Usha Mehra. It will also suggest steps to make Delhi and the NCR safer for women. to identify lapses and fix responsibility for the incident. The Justice Mehra Commission will be in addition to a three-member panel headed by the former Chief Justice of India, J.S. Verma. The committee will recommend amendments in law to provide for speedier trial and rigorous punishment in aggravated sexual assault cases amid demands for death penalty. The Centre rejected control of the Delhi police to the Delhi government saying the responsibility of law and order in the capital should remain with the Union government. Chief Minister Sheila Dikshit had demanded greater authority over city police after alleging that police officers had interfered in the recording of statement of the victim. The Department of Electronics and Information Technology (DeiTy)has made it mandatory for all electronics goods manufacturer in the country to get standard compliant certificate from the BIS. Applicable for electronic products imported or manufactured after April 2013. Objective: To curb the grey market for sub-standard electronics products How this move would help?
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Electronics products market in India is expected to touch $ 158 billion by 2015. India has around 30-40% of the overall electronics market as grey market. Many companies are selling sub-standard products to consumers. This step by the government will safeguard consumers as it makes mandatory for the electronics manufacturer to get a standard complaint certificate before selling a product in the market. What are the items covered under new standards? Under this, the DeiTy has listed 15 product categories the sellers of which are mandatorily required to obtain standard compliant certificates before selling in India. Those include laptops, tablets, LCD, LED televisions, optical disc players, microwave ovens, printers, scanners, wireless keyboards, video monitors, telephone answering machines, amplifiers, musical systems, electronic clocks and set top boxes among others. In second phase, the department plans to include mobile phones and some other electronics goods to make them follow the new standards.
CAG Vinod Rai re-elected as chairman of UN external auditors panel Vinod Rai who is current Comptroller and Auditor General(CAG) has been re-elected as the chairman of the panel of external auditors of the United Nations (UN). What the panel is all about? The panel which was formed in 1959 through a resolution of UN General Assembly comprises of individual external auditors who are heads of supreme audit institutions of various countries. Role: The panel plays a significant role in promoting accountability and bolstering governance mechanisms in the UN organisations. The panel convenes annual meeting to talk about emerging issues in the audit of UN specialized agencies such as the World Health Organisation, the World Food Programme, the World Intellectual Property Organisation, and the International Atomic Energy Agency. Countries whose official auditors currently part of the panel are Canada, China, France, India, Italy, Pakistan, the Philippines, Switzerland, Tanzania and Britain.

Infosys ADS begins trading on NYSE


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Infosys American Depository Shares (ADS) have begun trading on NYSE (New York Stock Exchange). Very recently, the company had shifted its shares from NASDAQ to NYSE to give its European investors better access to its stock. The company is also in the process of listing its ADS on the Paris and London exchanges of NYSE Euronext. ICICI Bank opens 101 gramin branches across six states Recognizing the potential of rural India and importance of financial inclusion ICICI Bank opened 101 gramin branchesacross six states namely across Maharashtra, Rajasthan, Andhra Pradesh, Gujarat, Madhya Pradesh and Tamil Nadu which will provide basic banking services such as savings bank account, fixed and recurring deposit, remittances, credit cards and tractor loans. They will also service business correspondents. The bank is assisting in electronic benefit transfers for disbursement of wages to the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) workers and the Social Security Pension beneficiaries. Saral Money Prepaid Card It also launched the Saral Money Prepaid Card along with theUnique Identification Authority of India (UIDAI). The card can be used to deposit or withdraw money from various customer service points using finger print authentication. It will facilitate financial transactions without a bank account and will also be used to receive government subsidies and benefits.
Public grievance redressal website of Bihar gets Silver Icon Web Ratna Award
December 18th, 2012

Bihar was honored with the Silver Icon Web Ratna Award 2012 for its public grievance redressal website. The website: http://bpgrs.in which has been created by the state IT department of government of Bihar as an initiative of e-governance, offers the common people features for speedy and transparent disposal of complaints. The complainant is also informed on his/her e-mail about the action taken.

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SEBI allows 12 more AIFs SEBI has allowed 12 entities to establish Alternative Investment Funds (AIFs) for real estate, private equity and hedge funds. The 12 AIFs that have been registered with SEBI since October 10, 2012 include India Realty Fund, Dar Mentorcap Film Fund, Capaleph Indian Millennium Small & Medium Enterprises Fund and Capaleph Indian Millennium Private Equity Fund. As per the SEBI guidelines, AIFs can operate broadly in 3 categories. The SEBI rules apply to all AIFs, including those operating as private equity funds, real estate funds and hedge funds, among others. Mutual funds under the SEBI (Mutual Funds) Regulation, 1996 and SEBI (Collective Investment Schemes) Regulations, 1999 are not covered under the AIF Regulations. What are AIFs? An investment that is not one of the three traditional asset types (stocks, bonds and cash). Alternative investments include hedge funds, managed futures, real estate, commodities, PE (private equity) funds, derivatives contracts, etc. Different categories under which fund can be registered under AIF Regulations, 2012: Category-I AIFs: Those funds that get incentives from the government, SEBI or other regulators and include Social Venture Funds, Infrastructure Funds, Venture Capital Funds and SME Funds. Category-II AIFs: These can invest anywhere in any combination but are prohibited from raising debt, except for meeting their day-to-day operational requirements. They includePE funds, debt funds or fund of funds, as also all others that are not classified as category I or III. Category-III AIFs: Those funds that trade with a view to making short-term returns and include hedge funds, etc. which employs diverse or complex trading strategies and may employ leverage including through investment in listed or unlisted derivatives. These funds can be open ended or close ended. Objective:
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SEBI aims to bring unregulated and lightly regulated investment funds like hedge funds and private equity-venture capital funds under its ambit with a view to systemic stability, increasing market efficiency, encouraging formation of new capital and consumer protection. AIFs are basically established or incorporated in India for the purpose of pooling in of capital from Indian and foreign investors for investing as per a pre-decided policy. The regulation covers all AIFs, including PEs, real estate funds and hedge funds, and makes it mandatory for them to register with SEBI. -ves about AIFs Many alternative investments also have high minimum investments and fee structures compared to mutual funds and ETFs. While they are subject to less regulation, they also have less opportunity to publish verifiable performance data and advertise to potential investors. +ves about AIFs Alternative investments are favored mainly because their returns have a low correlation with those of standard asset classes. Who are excluded from AIF Regulations, 2012? Followings are excluded from the ambit of AIF Regulations: Family trust, ESOP trusts, employee welfare trusts, gratuity trusts, collective investment schemes, holding companies, securitization trusts, and any such pool of funds which is directly regulated by any other regulator in India are expressly excluded.

US extends Iran sanction waivers to India, others


The US announced the extension of its waiver exempting nine countries including India, China from the American sanctions regime directed against the Iranian oil trade. India got the waiver as it had significantly reduced the crude export from Iran. Previous such waiver was granted in June 2012 which is due to expire in December, 2012.

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India has a stated policy of following only UN sanctions and not those imposed unilaterally by countries or block of countries. However, the ramifications of the US sanctions on global financial institutions have forced India to rework its trade equations with Iran which is not just critical to Indias crude oil needs, but is also an important strategic ally. Why sanctions have been imposed on Iran? 9 countries who got waiver. Why sanctions have been imposed on Iran? The sanctions have been imposed on Iran to choke its finances in order to pressurize it to quit its nuclear enrichment programme. The West suspects Irans nuclear program is enriching uranium to levels that could be used in weapons. Tehran says the program is for electricity generation and medical purposes. The countries who got waiver: 9 countries that got waiver are: India, China, Belgium, Britain, the Czech Republic, France, Germany, Greece, Italy, Japan, Netherlands, Poland and Spain

European Union receives 2012 Nobel Peace Prize The 27- nation bloc, the European Union, received 2012Nobel Peace Prize for turning Europe "from a continent of war to a continent of peace" in the wake of two world wars. The award was conferred by Norwegian Nobel Committee chairman Thorbjoern Jagland to EU President Herman Van Rompuy, European Commission President Jose Manuel Barroso and European Parliament President Martin Schulz in the Norwegian capital, Oslo. Wipros Sunflower Vanaspati brand sold to Cargill India Cargill India, US-based food producer and marketer, acquired theSunflower Vanaspati brand from Bangalore based IT major Wipro. Wipro wanted to get out of its traditional edible oil business. The acquisition is expected to make Cargill, (that processes 4,000 tonne per day) the largest vanaspati player, with Rath,Gemini and Nature Fresh Purita brands in its portfolio.

RICH INDIA CIVIL SERVICES ACADEMY 7/3, Arul Illam, Subramaniya Nager Cross Street, Kodambakkam, Chennai-6000 024. Contact: 7373059333, 044-23725102. Approach: 10 min walk able distance from Kodambakkam and Mambalam Railway Stations or Panagal Park Bus stop.

Sunflower Vanaspati is made out of edible vegetable oil and soya oil. The consumption of vanaspati oil is declining as people are choosing refined oil over it because of health concerns. Bhatinda-Srinagar Gas Pipeline project to be accomplished by July 2014 The Bhatinda-Jammu-Srinagar Gas Pipeline Project, which has been recently approved, is scheduled to be completed by July 2014. It will enable J&K to draw gas from Gujarat.

WHO instructs India to keep lens on tourist for SARS-like virus As instructed by the WHO, India is keeping a closewatch on incoming tourists, fearing transmission of a new respiratory virus that belongs to the same family as the deadly Severe Acute Respiratory Syndrome (SARS). The WHO has instructed member countries, under the international health regulations, against screening this virus at point of entry. The deadline was originally till the end of 2012, which has been extended by a year. The organization encourages all member states to continue their surveillance for Severe Acute Respiratory Infections (SARI) and is currently reviewing the case definition and other guidance related to the novel SARS-coronavirus. India has 25 airports, 12 ports and 7 international land borders catering to international traffic. These can be possible points through which dangerous pathogens can be brought by international passengers. Health units, however, exist only at 21 points most of which were established way back in 1950. The 12th Five Year Plan seeks to establish health surveillance units, isolation wards and quarantine facilities in 23 additional airports, ports and land borders. What is SARS? Severe Acute Respiratory Syndrome (SARS) A serious form of pneumonia caused by a member of the coronavirus family of viruses (the same family that can cause the common cold), so it is also called SARS-CoV. It infects both humans and animals (livestock, birds, etc.).
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It had spread like a pandemic in Hong Kong in March 2003, and from there it transmitted to several other countries. SARS is a dramatic example of how quickly world travel can spread a disease. How SARS spreads? When someone with SARS coughs or sneezes, infected droplets spray into the air. One can catch the SARS virus if you breathe in or touch these particles. The SARS virus may live on hands, tissues, and other surfaces for up to 6 hours in these droplets and up to 3 hours after the droplets have dried. Live virus has even been found in the stool of people with SARS, where it has been shown to live for up to 4 days. The virus may be able to live for months or years when the temperature is below freezing. Symptoms: It includes flu-like symptoms such as fever, muscle pain, headaches, diarrhea, sore throat, runny nose, malaise, and myalgia (muscle pain), dry cough, shortness of breath, and an upper respiratory tract infection. People with active symptoms of illness are contagious. Treatment: There is no cure or preventive vaccine available currently. The treatment is only supportive. Antibiotics are ineffective, as SARS is a viral disease. If a person is suspected of having SARS, they should be kept isolated in the hospital. Prevention: Reducing contact with people who have SARS Hand hygiene is the most important, thus Wash hands or clean them with an alcoholbased instant hand sanitizer. Avoid travel to places where there is an uncontrolled SARS outbreak. Do not share food, drink, or utensils.
RICH INDIA CIVIL SERVICES ACADEMY 7/3, Arul Illam, Subramaniya Nager Cross Street, Kodambakkam, Chennai-6000 024. Contact: 7373059333, 044-23725102. Approach: 10 min walk able distance from Kodambakkam and Mambalam Railway Stations or Panagal Park Bus stop.

China names Infosys among 100 key outsourcing companies China has named Infosys in the list of 100 main liaison service outsourcing firms, making the IT giant the only Indian company to get this recognition. Infosys well- rounded portfolio of capabilities, exemplary performance and strong growth in China made its way into the list. Service outsourcing has been identified as a key industry to be developed in China. It is governed by the Ministry of Commerce. Madhya Pradesh sets up Senior Citizen Commission The Madhya Pradesh Government has set up a Senior Citizen Commission to look into the problems of the elderly in the State. The Commission would comprise one Chairman and four members to consider problems of the senior people of the state, produce an ideal pro-forma for old persons policy for the welfare and solution of their problems. SEBI gives final approval to MCX-SX SEBI gave its nod to MCX Stock Exchange (MCX-SX) for going live in new product segments such as equity, wholesale debt (bonds) and interest rate derivatives.

RBIs inflation comfort zone need not be changed: Rangarajan


Prime Ministers Economic Advisory Council (PMEAC) C. Rangarajan pined not to alter the RBIs inflation comfort level from 4-5%. In 1998, Rangarajan had considered inflation rate at 6% to 7% as acceptable level. At that time, inflation level was as high as 10% to 11%. High inflation caused problems on the exchange rate side, and it was desirable to control inflation to 4-5% which was considered as comfort zone by RBI. RBI is not reversing its monetary policy position on the back of inflationary expectations. It has asked the Centre to take steps to slash rising fiscal deficit. The rupee has depreciated considerably against the dollar in the last one-anda-half years. In 2011, the exchange rate was Rs 48 per dollar. Currently it has depreciated to Rs 55 per dollar. The economic growth has declined to 5.3% in the second quarter, and growth for the entire financial year has plummeted to a 10-year low. During October, consumer price index-based inflation rate in the US stood at 2.2%, against 9.75% in India.

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Why some experts believe inflation comfort zone should be changed?

Some experts believe that in present conditions where fuel price has been increased, minimum support price being increased every year, and supply constraints, inflation normal cannot be four-five per cent. They think that, in a country like India, where a large part of agriculture is monsoon dependent, inflation can only be reduced in a phased manner in the medium-to long-run, from 6-7% to 5% and then to 4% since targeting 4-5% inflating in short run would be difficult.

Government to pour in Rs 4,000-cr capital into SBI In order to boost the strength of countrys largest bank, SBI, government is expected to infuse Rs 4,000 in the bank. This will enhance banks Capital Adequacy Ratio (CAR) to over 13%. What is CAR? CAR is a key indicator of a banks financial strength expressed as a ratio of capital to risk-weighted assets. What is the need for capital infusion in banks? The capital infusion is necessary to boost up the core capital base of the state-run lenders hit by bad loans and poor asset growth.

FDI ceiling in ARCs increased to 74% With an aim to attract greater foreign expertise in the domain of asset reconstruction, the government has raised the foreign investment ceiling in Asset Reconstruction Companies (ARCs) to 74% from previous 49%. However, FDI in ARCs would need to abide by the Foreign Direct Investment (FDI) policy, including the one related with sectoral caps. Here, Foreign investment implies that the limit of 74% would be a combined limit of FDI and FII (foreign institutional investors). This move will remove the prohibition on investment by FII in ARCs. The shareholding of an FII shall not exceed 10% of the total paid-up capital.

What are ARCs? Asset Reconstruction Companies (ACRs) which is also known as Asset Management Companies in foreign countries are centralized agencies that deal with the problem of bad loans of banks. The word RICH INDIA CIVIL SERVICES ACADEMY 7/3, Arul Illam, Subramaniya Nager Cross Street, Kodambakkam, Chennai-6000 024. Contact: 7373059333, 044-23725102. Approach: 10 min walk able distance from Kodambakkam and Mambalam Railway Stations or Panagal Park Bus stop.

asset reconstruction was first used, in context of Indian economy, in Narsimham I which proposed to establish a central Asset Reconstruction Fund with money contributed by the Central Govt, which was to be used by banks to resurrect their balance sheets to clean up their Non-Performing loans. However, this idea was not responded to. So Narsimham II report, opined to set up ARCs the likes of which are successful in countries like Malaysia, Korea and several other countries in the world. The ARCs were supposed to not only concern with the realization of bad loans but to also do reconstruction i.e. to try to revive the bad loans into good ones. National Investment Board renamed as Cabinet Committee on Investment, also changes made in its powers The Union Cabinet approved a renamed and modified version of the original proposal, creating a new Cabinet Committee on Investment (CCI) to fast-track decisions on infrastructure and manufacturing projects over Rs. 1,000 crore. This was done primarily to address the Environment Ministrys objections to a National Investment Board (NIB) which could assume some of its authority. In the new version, CCIs primary role will be to urge nodal ministries to fast-track clearances. Cabinet Committee on Investment (CCI) It will be headed by Prime Minister Manmohan Singh and include administrative Ministries as members. It will set time limits for decisions on approvals and clearances and will then monitor the process to ensure that those deadlines are met. It will be able to review cases which face delays, and facilitate the removal of hindrances in the process. In the new version, CCIs primary role will be to urge nodal ministries to fast-track clearances. What were the objections with NIB? The controversy was created when NIB was proposed to have powers to make possible interventions and even take decision regarding specific approval/clearance for an unduly delayed project, if deemed necessary on behalf of the concerned ministry in case of failure its failure in decision making in stipulated time frame. The idea was strongly opposed by the Environment Ministry. Minority Rights Day observed RICH INDIA CIVIL SERVICES ACADEMY 7/3, Arul Illam, Subramaniya Nager Cross Street, Kodambakkam, Chennai-6000 024. Contact: 7373059333, 044-23725102. Approach: 10 min walk able distance from Kodambakkam and Mambalam Railway Stations or Panagal Park Bus stop.

December 18 was celebrated as Minority Rights Day by the National Commission for Minorities which is headed by Justice Mohammed Shamim.
On this day in 1992 that the United nations adopted the declaration on the Rights of Persons belonging to National or Ethnic National or and Linguistic Minorities declaring that:

States shall protect the existence of the national or ethnic, cultural, religious and linguistic identity of minorities within their respective territories and encourage conditions for the promotions of that identity. Since then the day is celebrated every year as Minority Rights Day

Directorate of Advertising and Visual Publicity (DAVP) has been honored with the prestigious Web Ratna 2012, Golden Icon Award for Innovative use of Technology. Why was the award given to DAVP? Why Web Ratna Awards are given? Why was the award given to DAVP? The DAVP Website (http:/davp.nic.in/) has transformed the functioning of DAVP from manual mode to the online mode where the media plans are made and released for the end users. The website is the only advertising agency in the country which releases its designs, Release orders, payments online. The site has brought in transparency to the entire system in its billing as well as other procedures which have not only helped the organization but also its stakeholders. The entire chain has hugely added to the efficiency to the DAVPs operation and vastly improved the satisfaction levels of the client ministries as well as newspapers, channels and other agencies. Why Web Ratna Awards are given? The Web Ratna awards, constituted by the Ministry of Communication and Information Technology, recognize exemplary initiatives/practices in the sphere of e-governance. In order to encourage more innovative e-governance initiatives, the Web Ratna Awards have been instituted under the scope of the National Portal of India.
Lok Sabha approves Companies Bill, 2011 Lok Sabha cleared Companies Bill, 2011. As per the new legislation: RICH INDIA CIVIL SERVICES ACADEMY 7/3, Arul Illam, Subramaniya Nager Cross Street, Kodambakkam, Chennai-6000 024. Contact: 7373059333, 044-23725102. Approach: 10 min walk able distance from Kodambakkam and Mambalam Railway Stations or Panagal Park Bus stop.

It will be compulsory for companies with Rs. 5 crore or more profits in last three years to spend 2% of their average net profit towards Corporate Social Responsibility. In case companies not comply with this, they would have to give explanation. If the companies are not able to do the same, they have to disclose reasons in their books. Otherwise, they would face action, including penalty. Special courts to be established for speedy trials regarding investments. Remuneration of a director of a company should not be more than 5 % of the net profit. The number of companies an auditor can serve would be limited to 20 Annual ratification of appointment of auditors for five years A new clause related to offence of falsely inducing banks for obtaining credit. Companies which are winding up will have to make payment of two years salary to employees. SUPER BAINITE Tata Steels Port Talbot plant in the UK has developed a new kind of anti-ballistic steel named Super Bainite which could transform safety of soldiers and security forces fighting terrorists and extremists.
Super Bainite is lightweight, super-strength anti-ballistic steel which can be used to armour-plate troop

carriers and tanks. The new kind of steel id being produced by a multi-million pounds project by UKs Ministry of Defence and the Tatas. Lok Sabha approves Constitution (118th Amendment) Bill, 2012 Lok Sabha approved the Constitution (118th Amendment) Bill, 2012which seeks to provide special status to six backward districts in the Hyderabad Karnataka region, with provision for reservation in education and jobs for local people. The Bill introduces a new Article 371-J to provide special recognition for the six backward districts in north Karnataka: Gulbarga, Yadgir, Raichur, Bidar, Koppal and Bellary. The Bill provides for creation of a separate development board and equitable allocation of funds for development of the region. In addition to this, it will provide quota in public employment through establishment of local cadres and reservation in education and vocational training institutions for those who belong to the region by birth or domicile.

Boeing delivers first P-8I maritime surveillance aircraft to Indian Navy

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American plane maker Boeing delivered the first of the eight P-8I maritime surveillance aircraft to the Navy as part of deal worth over $2.1 billion signed in 2009 for buying the long-range surveillance aircraft, which are equipped with anti-submarine weaponry.

About P-8I A derivative of Boeing 737-800 long-range maritime reconnaissance aircraft and anti-submarine warfare aircraft. It may take the place of the Navys Russian Tupolev Tu-142M maritime surveillance turboprop. It is Indian variant of the P-8A Poseidon that Boeing is developing for the U.S. Navy. It will cater to Indias need to patrol the vast expanse of the Indian Ocean.

RIL plans to invest $10 billion on 4G network After winning the licence to offer 4G network in 2010, Reliance Industries Ltd. (RIL) is now planning to invest $10 billion to start its 4G network across the country. Reliance will soon launch LTE (Long Term Evolution) network which is the faster version of the mobile Internet to offer services similar to Skype video and voice calling services (VVoIP) to its subscribers. Infotel Broadband, has developed VoLTE (Voice-over-LTE) which will enable voice call services on its wireless broadband network. But currently the quantity of mobile devices models supporting VoLTE is extremely small. LTE phones and tablets mainly support only data transmission over an LTE modem, while voice and video are going via 2G/3G network.

Coast Guard exhibits its potential at Clean Sea-IV The Coast Guard which is the central coordinating agency for oil spill response in India, demonstrated its preparedness and capability to tackle marine oil spills at the national-level pollution response exercise, Clean Sea-IV, held off the Kochi coast. The Coast Guard can contain spills of 10,000 tonnes, beyond which experts from outside [oil spill response organisations] are called in. The exercise also exhibited the use of a Sevac heliskimmer to churn oil slick before recovery. RICH INDIA CIVIL SERVICES ACADEMY 7/3, Arul Illam, Subramaniya Nager Cross Street, Kodambakkam, Chennai-6000 024. Contact: 7373059333, 044-23725102. Approach: 10 min walk able distance from Kodambakkam and Mambalam Railway Stations or Panagal Park Bus stop.

India formulates indigenous Japanese Encephalitis vaccine Indias Bharat Biotech has developed worlds first vaccine against Japanese Encephalitis (JE) using an Indian strain of the virus. It used JE virus collected from Kolar in Karnataka to develop the vaccine which will provide protection agains wider strains of the virus such as the Nakayama strain the original strain from Japan, and the Biken strain that circulates in other Asian countries. The vaccine has been found to have protection rate of over 90% and can be used on the 1-15 years age group. India has just submitted the results from the final human trials to the drug controller general of India (DCGI) for marketing clearance. Currently, India imports the vaccine (SA14) from Chinas National Biotech Group. Even though the Chinese vaccine SA 14 was developed in 1990, scientists are concerned about its safe use as they say that the live attenuated virus in the Chinese vaccine could multiply in vector and recombine with local viruses resulting in creation of recombinant viruses with unknown characteristics.

SPORTS India clinches World Cup Kabaddi Tournament 2012 in both Mens and Womens category India clinched World Cup Kabaddi Tournament 2012 in both Mens and Womens category. It was a 3rdconsecutive victory of the title in the Mens category and 2nd consecutive time in the Womens category. Indian men thwarted arch rival Pakistan, while Indian women defeated Malaysia.

India clinches World Cup India survived a brave effort from Pakistan to clinch the inaugural SBI T20 World Cup for the Blind with a 29-run victory in the final at the Central College grounds here on Thursday. Men-of-the-series (all Indians): Fully blind category (B1) - Ketan Patel; Partially blind category (B2) Prakash Jayaramaiah; Partially sighted category (B3) Ajay Kumar Reddy.
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Anjali Bhagwat clinches bronze Anjali Bhagwat managed to pull off a bronze medal behind two Chinese who set a World record 400 out of 400 in womens air rifle in the fifth Asian Air Gun championship in Nanchang, China, on Friday. Anjali had to fight it out for the bronze against another Chinese and won the medal by a 0.2 point margin, with a total of 500.4. She shot 397 in qualification and 103.4 in the final to outwit the Chinese Chang Jing who shot 398 in qualification but only 102.2 in the final. It was only her third Asian level medal for Anjali who had won the air rifle bronze in Nanjing in 2008 and the standard rifle prone silver in Langkawi in 2000. She had won the World Cup gold in Fort Benning and the World Cup Final gold in Milan in 2003. Mampi makes final Mampi Das also made the final with a score of 394, after topping the shoot-off for the last two places in the final from among six, but ended eighth as she could garner only 100.9 in the final. Shriyanka Sadangi missed out in the shoot-off for a spot in the final, and finished tenth. The Chinese, Yu Dan and Wu Liuxi won the gold and silver with 504.0 and 503.7. The Indian team was able to take the silver behind the Chinese. Vikas wins silver There was some more cheer for the Indian camp, as Vikas Dhama won the mens youth silver medal in air pistol, 6.6 points behind the Chinese Li Hang. The boys, however, took the team gold, 12 points ahead of the Chinese as the third member of the Chinese squad was below par. In junior mens air rifle, Akhil Sheoran won the bronze and the team also took the bronze medal, three points behind the Koreans. Award for Messi and Neymar Lionel Messi won the World Soccer s World Player of the Year award for the third time, having previously clinched it in 2009 and 2011 Football star Neymar won the prestigious Brazilian Golden Boot for the second time in his short career with 43 goals in 2012 Australia records fifth Trophy triumph
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Australia went some way to erasing the pain of its London Olympics flop by winning a record fifth consecutive Champions Trophy in a 2-1 extra-time victory over the Netherlands on Sunday. Pakistan won its first Champions Trophy medal since 2004 when it defeated India 3-2 in the bronze medal match. The Argentine breaks Gerd Muellers record Lionel Messi broke German legend Gerd Muellers 40-year-old record for the most goals in a calendar year on Sunday, netting his 85th and 86th goals of 2012 in Barcelonas 2-1 win over Real Betis. The 25-year-old from Rosario, Santa Fe is also set to add to his impressive haul of silverware as he is in line for a record fourth consecutive Ballon dOr.He has also won the FIFA Club World Cup twice and is Barcas leading scorer with 283 goals in all competitions.Messis goal-scoring record with Argentina is a disappointing 31 goals in 76 games, and he was unable to prevent his country from crashing out in the quarterfinals at both the 2010 World Cup and last years Copa America in his homeland. Unstoppable China claims a double China underscored its position as super power sans pareil at the Volkswagen World junior table tennis championships at the Sports Authority of Andhra Pradesh indoor stadium here on Wednesday. For its girls, it was a perfect 10, having won every edition of the global event to date, while it was the ninth for the boys. For the record, Chinas girls conquered Japan 3-0, while the boys got the better of the same opponent 3-1. Federation Cup volleyball back after 10 years Ten years ago, when the Volleyball Federation of India (VFI) stopped the Federation Cup, it said that it would never conduct it in the inter-State format again. The Federation Cup is now being revived and it will be held at Pathanamthitta in Kerala from February 24 to March 3, 2013 and once again, it will be an event for States. The Cup was last played at Triprayar in Thrissur in 2003, in an inter-State format. Lionel Messi creates record for most goals in a year
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Argentinean footballer Lionel Messi, popularly known as "The Flea", broke German great Gerd Muellers 40-year-old record for most goals in a year by scoring for the 86thgoal in 2012.

INTERNATIONAL AFFAIRS India, Pakistan eased visa regime Indian signed long-awaiting visa agreements aimed to make the visa norms more lenient and liberal. The new visa regime the first major modernization since 1974 in particular relaxes travel restrictions for businessmen and brings in a new group tourism category. As per the new visa norms: Visa on arrival facility will be provided to senior citizens after arriving at Attari and Wagah border in India and Pakistan respectively. A single-entry visa for a maximum period of 6 months has been introduced but the stay cannot exceed 3 months at a time and it allows for travelling 5 places, which is currently limited to only 3. For the first time Group tourist visas (10 to 50 people) have been brought in. Business visa has been differentiated from visitor, and the former will be issued within 5 weeks. Senior citizens, children below 12 years age, and renowned businessmen exempted from police reporting. People will be permitted to enter and exit from different check posts and can also change their means of travel. It is subject to exception that exit from Wagah/Attari by road (on foot) will not be accepted unless the entry was also by foot via Wagah/Attari.

India plans to ink MLAT with four nations


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India plans to ink Mutual Legal Assistance Treaty (MLAT) with four countries namely Oman, Azerbaijan, Israel and Nepal to pursue criminal investigation and confiscation of money or property involved therein. What is Mutual Legal Assistance Treaty (MLAT)? MLAT is an agreement b/w two nations for the aim of collecting and exchanging information in an attempt to implement public laws or criminal laws. Useful in tax matters (in particular as part of international DTAA. This assistance may take the form of examining and identifying people, places and things, custodial transfers, and providing assistance with the immobilization of the instruments of criminal activity. How would it help? The Mutual Legal Assistance Treaty (MLAT) will enable mutual assistance in prevention, investigation and prosecution of crime, service of summons and other judicial documents, execution of warrants and other judicial commissions and tracing, restraint, forfeiture and confiscation of proceeds and instruments of crimes. India already has this treaty with 32 countries including Iran, Kuwait, Mauritius, Switzerland, Mexico, Thailand, Vietnam and Kazakhstan. There is a mutual legal assistance treaty with Australia, Bahrain,Bangladesh, Belarus, Bosnia and Herzegovina, Bulgaria, Canada,Egypt, France, Mongolia, Myanmar, Russia, Singapore, South Africa, South Korea, Spain, Sri Lanka, Turkey, Ukraine, United Arab Emirates, United Kingdom, United States of America andUzbekistan.

India, Sri Lanka, Maldives to sign agreement on maritime cooperation India, Sri Lanka and Maldives will soon sign a trilateral agreement on maritime cooperation to pool resources and share data in the region for better control over the territorial waters, and detect suspicious movements. Revealing this at the maritime security seminar, Galle Dialogue, here, Sri Lankan Defence Secretary Gotabaya Rajapaksa said that Sri Lanka, India and the Maldives have recently been working on a trilateral agreement for cooperation in carrying out surveillance, anti piracy operations and in curbing illegal activities including maritime pollution. A key aspect of information sharing is Maritime Domain Awareness.
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Noting that nearly half of the world's containerised cargo crosses the Indian Ocean every year, Mr.Gotabaya wanted better cooperation between the bigger and smaller navies in the region. Unfortunately, it has to be admitted that there is a degree of mistrust between the major powers in the Indian Ocean region that presently limits the degree to which effective and long lasting multilateral cooperation can be achieved, he said. Detailing the Indian efforts in the region, Vice Chief of Naval Staff, R.K.Dhowan pointed out that piracy emanating from Somalia has been confined to an area of 700 nautical miles, largely due to effective patrolling and cooperation between navies. India too had contributed significantly to this effort, and had so far repulsed 40 pirate attacks. In addition, India had also agreements with Royal Thai and Indonesian naval forces to conduct coordinated patrolling in the east, around the region of the Malacca Straits. India steps up presence in region Meanwhile, in an effort to ensure better coordination and shorten response timings during a crisis, India has posted a Military Attache (MA) in the Maldives. So far, the MA based in Sri Lanka, was also in charge of Maldives. Captain RS Sunil, who was based at the Eastern Naval Command Headquarters at Visakhapatnam, took charge as MA last week at Male and is the first MA to be based in Maldives. India trains the Maldivian National Defence Forces and its police. Only five countries India, Pakistan, Sri Lanka, Bangladesh and China have diplomatic posts in Maldives. All the other countries either operate out of Colombo or New Delhi. Not in String of Pearls-Sri Lanka In a spirited defence of Chinese investments, Defence and Urban Development Secretary Gotabaya Rajapaksa has said the Hambantota port is not part of a Chinese string of pearls to surround India. China built the deep-water port in the southern tip of Sri Lanka, in the constituency from where President Mahinda Rajapaksa hails. Only one phase is complete and the port has not been receiving as many ships as expected. Placing the Hambantota port within the paradigm of the string of pearls theory is not correctFrom Sri Lankas perspective, I wish to clarify that the Chinese investment in the Hambantota port is a purely economic one, said Mr. Gotabaya Rajapaksa. He added that most of the larger companies setting up operations at the Hambantota port were actually Indian.

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While it was not clear what prompted the clarification he was delivering the keynote address at the third edition of a maritime security meet, the Galle Dialogue, here he shed light on a matter over which there has been considerable Sri Lankan ambiguity. The government had long insisted that the port development project was first offered to India and when there was no reaction, they had approached China. But Mr. Gotabaya Rajapaksa set the record straight on this score: As one of Sri Lankas key development partners over the last few years, China was an obvious nation to approach. After many requests and representations at the highest level, this assistance was granted. Chinas alleged string of pearls ports include Gwadar in Pakistan, Marao in Maldives, Hambantota in Sri Lanka, Chittagong in Bangladesh and Sittwe in Myanmar. Justifying the building of these ports, Mr. Gotabaya Rajapaksa said that from the Chinese perspective, as its economy expanded through rapid development, it was only natural that its sphere of economic influence also expanded. FISHING TROUBLES Just a day after Sri Lanka released about 40 Tamil Nadu fishermen, arrested for illegally crossing into its waters, Mr. Gotabaya Rajapaksa lashed out against the practices of such fishermen. Pirate fishing across territorial waters can pose a risk to the livelihoods of fishermen, and causes tension in fishing communities and amongst coastal populations. For example, the large number of fishing boats that come to Sri Lankan waters from south India for fishing is an issue that the Indian government and the Sri Lankan government have had to contend with in recent years. The two governments have taken a number of steps to solve this problem, but more needs to be done, he said. Noting that the Tamil fishermen in the North and East of Sri Lanka were now rebuilding their livelihoods after decades of suppression under the LTTE, he said the fact that these fishermen had to compete with such large numbers of fishing craft illegally entering Sri Lankan waters had caused great tension and frustration among them.

India, U.S. collaborate on solar energy India and the United States have started an initiative to develop solar energy through photovoltaic (PV) projects and concentrated solar power (CSP), also known as solar thermal. This comes four months after India experienced one of the worlds biggest blackouts, which affected more than 680 million people.
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Titled SERIIUS (Solar Energy Research Initiative of India and the United States), the $50 million project would be conducted by the Bangalore-based Indian Institute of Science and the Washington-based National Renewable Energy Laboratory. We are expecting the project to produce desirable results within five years, Rajeev Deshpande, a senior energy official, told an energy conference here. Unlike traditional solar panels, CSP projects concentrate a large area of sunlight onto a small area of contained liquid. The liquid heats up, emits steam, and a generator converts the steam into electricity. Concentrated solar power or concentrated solar thermal systems use mirrors or lenses to concentrate a large area of sunlight, or solar thermal energy, onto a small area. Electrical power is produced when the concentrated light is converted to heat, which drives a heat engine (usually a steam turbine) connected to an electrical power generator. The global total of 1095 MW. Spain added 400 MW in 2010, taking the global lead with a total of 632 MW, while the US ended the year with 509 MW after adding 78 MW, including two fossilCSP hybrid plants. . The global market has been dominated by parabolic-trough plants, which account for 90 percent of CSP plants CSP is not to be confused with concentrated photovoltaics (CPV). In CSP, the concentrated sunlight is converted to heat, and then the heat is converted to electricity. In CPV, the concentrated sunlight is converted directly to electricity via the photovoltaic effect. In 1866, Auguste Mouchout used a parabolic trough to produce steam for the first solar steam engine. The first patent for a solar collector was obtained by the Italian Alessandro Battaglia in Genoa, Italy, in 1886. Concentrating technologies exist in four common forms, namely parabolic trough, dish Stirlings, concentrating linear Fresnel reflector, and solar power tower.Although simple, these solar concentrators are quite far from the theoretical maximum concentration. For example, the parabolic-trough concentration gives about 1/3 of the theoretical maximum for the design acceptance angle, that is, for the same overall tolerances for the system. Approaching the
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theoretical maximum may be achieved by using more elaborate concentrators based on nonimaging optics. Different types of concentrators produce different peak temperatures and correspondingly varying thermodynamic efficiencies, due to differences in the way that they track the sun and focus light. New innovations in CSP technology are leading systems to become more and more cost-effective. Concentrated photovoltaics Concentrated photovoltaic (CPV) technology uses optics such as lenses or curved mirrors to concentrate a large amount of sunlight onto a small area of solar photovoltaic (PV) cells to generate electricity. Compared to non-concentrated photovoltaics, CPV systems can save money on the cost of the solar cells, since a smaller area of photovoltaic material is required. Because a smaller PV area is required, CPVs can use the more expensive high-efficiency tandem solar cells. To get the sunlight focused on the small PV area, CPV systems require spending extra money on concentrating optics (lenses or mirrors), solar trackers, and cooling systems. Because of these extra costs, CPV is far less common today than non-concentrated photovoltaics. However, ongoing research and development is trying to improve CPV technology and lower costs. CPV also competes with concentrated solar thermal. CPV turns the sunlight directly into electricity, while solar thermal turns the sunlight into heat, and then turns the heat into electricity. Solar thermal is far more common than CPV, although the two technologies are sometimes combined. CPV systems operate most efficiently in concentrated sunlight, as long as the solar cell is kept cool through use of heat sinks. Diffuse light, which occurs in cloudy and overcast conditions, cannot be concentrated. To reach their maximum efficiency, CPV systems must be located in areas that receive plentiful direct sunlight. The design of photovoltaic concentrators introduces a very specific optical design problem, with features that makes it different from any other optical design. It has to be efficient, suitable for mass production, capable of high concentration, insensitive to manufacturing and mounting inaccuracies, and capable of providing uniform illumination of the cell. All these reasons make nonimaging optics the most suitable for CPV. All CPV systems have a concentrating optic and a solar cell. Except for very low concentrations, active solar tracking is also necessary.
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Semiconductor properties allow solar cells to operate more efficiently in concentrated light, as long as the cell Junction temperature is kept cool by suitable heat sinks. Efficiency ofmultijunction photovoltaic cells developed in research is upward of 40% today, with the potential to approach 50% in the coming years. Low concentration PV (LCPV) Low concentration PV are systems with a solar concentration of 2-100 suns.[5] For economic reasons, conventional or modified silicon solar cells are typically used, and, at these concentrations, the heat flux is low enough that the cells do not need to be actively cooled. The laws of optics dictate that a solar collector with a low concentration ratio can have a high acceptance angle and thus in some instances does not require active solar tracking. Medium concentration PV From concentrations of 100 to 300 suns, the CPV systems require two-axes solar tracking and cooling (whether passive or active), which makes them more complex. High concentration photovoltaics (HCPV) High concentration photovoltaics (HCPV) systems employ concentrating optics consisting of dish reflectors or fresnel lenses that concentrate sunlight to intensities of 100 suns or more. The solar cells require high-capacity heat sinks to prevent thermal destruction and to manage temperature related performance losses. Multijunction solar cells are currently favored over single junction cells, as they are more efficient and have a lower temperature coefficient (less loss in efficiency with an increase in temperature). The efficiency of both cell types rises with increased concentration; multijunction efficiency rises faster Luminescent solar concentrators A new emerging type of concentrators which are still at the research stage are Luminescent solar concentrators, they are composed of luminescent plates either totally impregnated by luminescent species or fluorescent thin films on transparent plates. They absorb solar light which is converted to fluorescence guided to plate edges where it emerges in a concentrated form. The concentration factor is directly proportional to the plate surface and inversely proportional to the plate edges. Such arrangement allows to use small amounts of solar cells as a result of concentration of fluorescent light. The fluorescent concentrator is able to concentrate both direct and diffuse light which is especially important on cloudy days. They also don't need expensive Solar trackers.
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The photovoltaic effect is the creation of voltage or electric current in a material upon exposure to light. Though the photovoltaic effect is directly related to the photoelectric effect, they are different processes. When the sunlight or any other light is incident upon a material surface, the electrons present in the valance band of the metallic atom absorbs energy and, being excited, jump to conduction band and become free. Now these free electrons are attracted by a positively charged electrode and thus the circuit completes and the light energy is converted into electric energy. In the photoelectric effect, electrons are ejected from a material's surface upon exposure to radiation. The photovoltaic effect differs in that electrons are transferred between different bands (i.e., from the valence to conduction bands within the material), resulting in the buildup of voltage between two electrodes. In most photovoltaic applications the radiation is sunlight, which is why the devices are known as solar cells. In the case of a p-n junction solar cell, illuminating the material creates an electric current as excited electrons and the remaining holes are swept in different directions by the builtin electric field of the depletion region. The photovoltaic effect was first observed by Alexandre-Edmond Becquerel in 1839.

INDIA-UKRAINE A broad defence cooperation agreement was among five pacts signed following delegation-level talks between the visiting Ukrainian President, Viktor Yanukovych, and Prime Minister Manmohan Singh. With Ukraine having consolidated its military enterprises into bodies under governmental control, on the lines of what Russia did to its military-industrial complex a decade ago, New Delhi feels the path has been smoothened for a more intimate defence relationship. Instead of dealing with a number of defence enterprises scattered over Ukraine, India will find it easier to conduct focussed negotiations, which could help it get a better deal. During the Soviet times, Ukraine was home to 30 per cent of the countrys military industrial complex and it is now attempting to modernise its defence industry. In this scenario, India senses it will be able to duplicate its approach towards Russia of moving away from the buyer-seller relationship and going in for an R&D-joint production model such as the pacts with Moscow for Fifth Generation Fighter Aircraft, Military Transport Aircraft and BrahMos.

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Ukraine is already modernising Indias 100-plus fleet of military transport aircraft and has been active in providing engines for naval vessels and military spares. Ukraine in turn assured India of its support in a bid to join four international export control organisations, including the Nuclear Suppliers Group. Kiev voluntarily gave up the nuclear weapons arsenal it had inherited from the Soviet Union and its backing to India in this respect is considered important. The two sides also inked an agreement on exchanging nuclear safety-related information. Ukraine operates 15 reactors of the same type as the ones being put up by Russia at Kudankulam in Tamil Nadu. As the Ukrainian reactors are a decade or more older, transfer of safety-related expertise would be of help to Indian nuclear engineers.India pressed hard on the visa issue which, it feels, is a major non-tariff barrier. Official dont know if the fortnight-long wait for business visas is Ukraines retaliation for India clamping down on visas to women of a certain age group from Ukraine and Central Asian countries, but the subject was deemed crucial enough for Dr. Singh to mention it to the Ukrainian President. India feels one reason for the huge trade deficit with Ukraine is visa issuance delays. It made progress with another approach to reduce the imbalance, currently 5:1 in Kievs favour, with Ukraine agreeing to Indian investments in the fertilizer sector. Nuclear Suppliers Group (NSG) is a multinational body concerned with reducing nuclear proliferation by controlling the export and re-transfer of materials that may be applicable to nuclear weapon development and by improving safeguards and protection on existing materials. The NSG was founded in 1974 in response to the Indian nuclear test earlier in that year. The test demonstrated that certain non-weapons specific nuclear technology could be readily turned to weapons development. Nations already signatories of the Nuclear Non-Proliferation Treaty (NPT) saw the need to further limit the export of nuclear equipment, materials or technology. The NSG did not meet again until 1991. The "Trigger List" remained unchanged until 1991, although the Zangger list was regularly updated. The revelations about the Iraqi weapons program following the first Gulf War led to a tightening of the export of so-called dual-use equipment. At the first meeting since 1978, held at the Hague in March 1991, the twenty-six members agreed to the changes, which were published as the "Dual-use List" in 1992, and also to the extension of the original list to more closely match the up-to-date Zangger list. nitially the NSG had seven members: Canada, West Germany, France, Japan, the Soviet Union, the United Kingdom, and the United States. In 1976-77, membership was expanded to fifteen with the admittance of Belgium, Czechoslovakia, East Germany, Italy, the Netherlands, Poland, Sweden, and Switzerland. Germany was reunited in 1990 while Czechoslovakia broke up into the Czech Republic and Slovakia in 1993. Twelve more nations joined up to 1990. Following the collapse
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of the Soviet Union a number of former republics have been given observer status as a stage towards future membership. China became a member in 2004. The European Commission participates as an observer. As of 2009 the NSG has 47 members. In July 2006, the United States Congress amended U.S. law to accommodate civilian nuclear trade with India. A meeting of NSG members on 2122 August 2008 on an India-specific exemption to the Guidelines was inconclusive. Several member countries, including Austria, Switzerland, Norway, Ireland, and New Zealand, expressed reservations about the lack of conditions in the proposed exemption. In another meeting on September 6, 2008, the NSG members agreed to grant India a "clean waiver" from its existing rules, which forbid nuclear trade with a country which has not signed the Nuclear Non-Proliferation Treaty (NPT). The NSG's decision came after three days of intense U.S. diplomacy.The approval was based on a formal pledge by India stating that it would not share sensitive nuclear technology or material with others and will uphold its voluntary moratorium on testing nuclear weapons. The pledge was contained in a crucial statement issued during the NSG meeting by India outlining the country's disarmament and nonproliferation policies. The Australia Group is an informal group of countries (now joined by the European Commission) established in 1985 (after the use of chemical weapons by Iraq in 1984) to help member countries to identify those of their exports which need to be controlled so as not to contribute to the spread of chemical and biological weapons . The group, initially consisting of 15 members, held its first meeting in Brussels in September 1989. It now has 41 members, including all Organisation for Economic Co-operation and Development (OECD) members except Mexico, the European Commission, all 27 Member States of the European Union, Croatia, Ukraine and Argentina. The name comes from Australia's initiative to create the group. Australia manages the secretariat.The initial members of the group had different assessments of which chemical precursors should be subject to export control. Later adherents initially had no such controls. Today, members of the group maintain export controls on a uniform list of 54 compounds, including several that are not prohibited for export under the Chemical Weapons Convention, but can be used in the manufacture of chemical weapons. Delegations representing the members meet every year in Paris The Wassenaar Arrangement (full name: The Wassenaar Arrangement on Export Controls for Conventional Arms and Dual-Use Goods and Technologies) is a multilateral export control regime (MECR) with 41 participating states including many former COMECON (Warsaw Pact) countries. It is the successor to the Cold war-era Coordinating Committee for Multilateral Export Controls (COCOM), and was established on July 12, 1996, in the Dutch town of Wassenaar, near The Hague. The Wassenaar Arrangement is considerably less strict than COCOM, focusing primarily on the transparency of national export control regimes and not granting veto power to individual
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members over organizational decisions. A Secretariat for administering the agreement is located in Vienna, Austria. Like COCOM, however, it is not a treaty, and therefore has no legally binding aspect to it. Every six months member countries exchange information on deliveries of conventional arms to non Wassenaar members that fall under eight broad weapons categories: battle tanks, armored combat vehicles (ACVs), large-caliber artillery, military aircraft/unmanned aerial vehicles, military and attack helicopters, warships, missiles or missile systems, and small arms and light weapons. The Missile Technology Control Regime (MTCR) is an informal and voluntary partnership between 34 countries to prevent the proliferation of missile and unmanned aerial vehicletechnology capable of carrying a 500 kg payload at least 300 km. The Missile Technology Control Regime (MTCR) was established in April 1987 by Canada, France, Germany, Italy, Japan, Great Britain, and the United States. The Treaty on the Non-Proliferation of Nuclear Weapons, commonly known as the NonProliferation Treatyor NPT, is a landmark international treaty whose objective is to prevent the spread of nuclear weapons and weapons technology, to promote cooperation in the peaceful uses of nuclear energy and to further the goal of achieving nuclear disarmament and general and complete disarmament. Opened for signature in 1968, the Treaty entered into force in 1970. On 11 May 1995, the Treaty was extended indefinitely. A total of 190 parties have joined the Treaty, including the five nuclear-weapon states: the United States, Russia, the United Kingdom, France, and China (also the five permanent members of the United Nations Security Council). More countries have ratified the NPT than any other arms limitation and disarmament agreement, a testament to the Treaty's significance. Four non-parties to the treaty are known or believed to possess nuclear weapons: India, Pakistan and North Koreahave openly tested and declared that they possess nuclear weapons, while Israel has had a policy of opacityregarding its own nuclear weapons program. North Korea acceded to the treaty in 1985, but never came into compliance, and announced its withdrawal in 2003. The NPT consists of a preamble and eleven articles. Although the concept of "pillars" is not expressed anywhere in the NPT, the treaty is nevertheless sometimes interpreted as a threepillar system, with an implicit balance among them: 1. non-proliferation, 2. disarmament, and 3. the right to peacefully use nuclear technology
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India signs military deal with Russia Vladimir Putin visits to India $2 billion investment fund Finalised 10 agreements Two military contracts, worth about Rs. 20,000 crore Some issues of disagreement also there To take the initial steps towards operating a ranging station that will help accurately fix the location of satellites. Equity participation through ONGC-OVL On Russian president Vladimir Putins visit to India, both nations moved further to strengthen their economic relations by inking a pact on a Kremlin-backed $2 billion investment fund and consenting to open talks on a Comprehensive Economic Partnership Agreement (CEPA) that will also involve Belarus and Kazakhstan. At the 13th annual summit, the two countries finalised 10 agreements. Among them were two military contracts, worth about Rs. 20,000 crore. Issues of disagreement and more: However, little progress could be made on the issues of disagreement which include: Delay in commissioning aircraft carrier Gorshkov Impasse over clinical trials in Russia Applicability of the Nuclear Limited Liability Act on six new reactors to be set up by Russia at Kudankulam Inability of Russian companies Sistema and Severstal to move ahead with their investment plans in India Tax imposed on Imperial Energy, an Indian company operating in Russia. Russian company Sistema who suffered a setback after the Supreme Court cancelled all 2G licences, indicated its faith in the India with Glonass, its sister company, signing two pacts in the satellite sector. India has already signed the military side of the deal with Glonass, a group of 34 satellites in 2011. Both countries also agreed to take the initial steps towards operating a ranging station that will help accurately fix the location of satellites. A military side pact on receiving precision signals from Glonass was inked in 2011.
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Both nations also decided to further their partnership in the energy sector, which has moved beyond investment (Sakhalin-I) to direct trade (Gazprom-Gail) and is now moving towards joint investment in downstream and upstream sectors. Indias interests with Russia in Energy sector: Equity participation through ONGC-OVL in existing and new projects in Siberia, Russias Far East and the Arctic Shelf. Acquiring equity stake in discovered or producing assets and in proposed Liquefied Natural Gas (LNG) projects in Russia.
The details of all the 10 deals signed today with our Russian friends during the 13th annual Indo-Russian joint summit: 1. Contract for Delivery of 42 technological kits for SU-30MKI aircraft licensed production. Desc: The Protocol-II on licensed manufacturing of additional 42 SU-30MKI aircraft units was signed during Annual Summit 2011. The current contract is a follow up to this Protocol. 2. Contract for Delivery of 71 Mi-17V-5 helicopters Desc: An order for procurement of 59 Mi-17 v5 MLH was agreed to in Feb 2010, which was subsequently increased to 71. The current contract is in context of the order. 3. Strategic Cooperation Agreement between Tata Consultancy Services Ltd. and Joint Stock Company "Navigation Information Systems (NIS) of Russia. Desc: The Agreement shall establish and strengthen technology partner relations between the two enterprises in software development, systems integration, product engineering, professional services for and marketing of NIS products and TCS Solution frameworks. The areas of cooperation visualized concern sectors such as information technology enabled services, telecommunication systems, manufacturing etc 4. Joint Venture Agreement between Elcom Systems Private Ltd. and OAO "Vertoleti Rassi (JSC "Helicopters Russia) Desc: The joint venture aims to set up in India, a modern industrial facility for manufacturing of Russian models of helicopters (Ka- and Mi- brands). The JV will serve as an industrial base for hi-tech rotorcraft products from Russia to India and shall contribute to the development of the domestic aerospace industry. The enterprise will be eligible for implementing offset projects under various procurement tenders in India.JSC "Russian Helicopters is a leading player in the global helicopter industry engaged in the business of modern civilian and military helicopters and training of aviation personnel. Elcom Systems is an established entity in the Indian telecommunications, security and navigation sectors. 5. Memorandum of Understanding for Joint Venture arrangement between Elder Pharmaceuticals Ltd., Mumbai and Pharm Eco of Russia Desc: The joint venture company will engage in the manufacturing, marketing and distribution of pharmaceuticals in Russia and other countries and envisages an investment of at least US$ 100 million. PharmEco will have 51%

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stake the joint venture while Elder Pharmaceuticals will own 49% in the joint venture company. 6. Protocol on Foreign Office Consultations 2013-14.

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Desc: The Protocol is an instrument to continue the tradition of close political consultations between the two Foreign Offices. The current Protocol outlines seventeen different broad themes for such exchanges. The bi-annual Protocol mechanism enables frequent contacts and promotes broad-based understanding between the various wings of the two Foreign Offices. 7. Memorandum on Cooperation between the Ministry of Science & Technology, Government of India and the Ministry for Education and Science of the Russian Federation in Science, Technology & Innovation. Desc: The Memorandum shall facilitate deepening cooperation in the field of innovation and S&T, through implementation of joint programs or projects involving educational, R&D and industrial institutions. It also stipulates formation of a Working Group to implement the provisions of this MoC. 8. Cultural Exchange Programme between the Ministry of Culture of the Republic Of India and The Ministry of Culture of the Russian Federation for the Years 2013 - 15. Desc: The document envisages enhancing bilateral cultural contacts through exchanges in performing arts, films, archives, museums and conservation, literature and language and through organization of reciprocal Festivals. It is in continuation to the previous CEP 2009-12. It also aims to preserve and promote the legacy of the Roerich Estate in Kullu (Himachal Pradesh), an important icon of cultural cooperation between the two countries. 9. Memorandum of Understanding to Promote Direct Investment between Russia and India. Desc: MoU envisages investments upto US$ 2 billion in important bilateral projects or companies, privatization and other opportunities. RDIF is a US$ 10 billion sovereign-backed Russian private equity fund established by the Russian Government to co-invest alongside global institutional investors. Since its inception in 2011, it has led investments totaling US$ 1.5 billion in Russian companies together with some of the largest asset managers in the world. 10. Memorandum of Understanding between Bharat Sanchar Nigam Ltd., New Delhi, India & Mahanagar Telephone Nigam Ltd., New Delhi, India and NIS-GLONASS, Russia for conducting the proof of concept through pilot project for providing the Satellite based navigation services Desc: The MoU envisages a pilot project to assess the usage of the Russian Global Navigation Satellite System (GLONASS the Russian equivalent of GPS) using the capabilities of BSNL/MTNL ground infrastructure. Success of the pilot project may provide insights for wider applicability of GLONASS signals in the future in areas such as disaster management, telephony and long-distance communications.

SBI, RDIF collaborate to form $2 billion consortium To encourage investments b/w the two nations, Indias State Bank of India (SBI) and Russian sovereign wealth fund Russian Direct Investment Fund (RDIF) came together to ink an MoU for setting up a$2 billion investment consortium. Both the groups would invest up to $1 billion each in the consortium.
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How this consortium would work? It will facilitate access to long-term capital in Russia and India and actively promote mutual investments. It will emphasize on projects accelerating towards higher purchasing power of the population, creation of value addition in the extraction and processing of natural resources as well as development of manufacturing businesses and service sector companies. As the consortium is supported by the government of the two nations, it will help in mitigating the risks that might arise from the global economic situation. With the partnership, the bank would have access to interesting and attractive projects from an investment point of view.

GMR seeks $800 million in damages, Male insists on forensic audit Indian infrastructure firm GMR will seek a compensation of over $800 million from Maldives for the termination of its airport deal here but Male is insisting on a forensic audit as it feels the actual amount would be less than half. We have sent a letter to the Maldivian government indicating a number of more than $800 million as compensation amount. This is our initial estimate. The final figure would be based upon various calculations, loss of profit among others, GMR (Airports) CFO Sidharath Kapur said. The Maldivian government, however, debunked the calculations and insisted on getting a forensic audit.Sources in the Maldivian government say that the compensation amount, as per their calculations, should come to about a lower limit of $150 million and an upper limit of $350 million.The $500 million airport project contract awarded to GMR for modernising and operating the Ibrahim Nasir International Airport (INIA), signed in 2010 during the previous regime of Mohamed Nasheed, was unilaterally terminated by the current government on November 27. The airport was taken over by the Maldives Airports Company Limited after a high-voltage legal tussle in which GMR had initially got a stay order on the termination from the Singapore High Court.However, the Singapore Supreme Court ruled on November 6, a day before the notice period expired, that Maldives has the power to take over the airport on November 6.However, sources in the know said that the unlawful termination of the contract sends a negative signal to foreign investors, a stand taken by Indian government too. Asked if Maldives will seek fresh bids for the modernisation and the operations of the airport, Imad said the cabinet has given the nod to set up a new company called Maldives International
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Airport Limited that will takeover from MACL. However, he added the structure of MIAL is yet to be finalised. India, ASEAN finalize FTA pact in services, investments India and the Association of Southeast Asian Nations (ASEAN) finalized the Free Trade Agreement (FTA) in services and investments. What does this mean? This pact is expected to enahance trade b/w India and ASEAN to $100 billion by 2015 which currently stands at $80 billion. India had been requesting ASEAN to open up its service sector further, including steps to cover independent professional services and contractual service suppliers at all levels. During negotiations, India agreed to drop its request for independent professional services and as a trade-off, ASEAN dropped its demand for prudential measures in financial services. The final legal pact on services and investment is likely to be given a further shape by February, 2013, and the signing could take place in August 2013. India has already signed FTA in goods sector with the group. India is also negotiating similar market opening pacts with members of the ASEAN grouping. India has already enforced FTA with Singapore and Malaysia and is negotiating with Indonesia and Thailand in this regard. The FTA would also open the doors for discussions on a Regional Comprehensive Economic Partnership (RCEP) that ASEAN plans to sign with its 6 main trade allies, which include India. ASEAN and six partners Australia, China, India, Japan, South Korea and New Zealand will start discussions on the RCEP in 2013, which are likely to form the worlds economic bloc in 2015. UAE approves extradition pact with India The UAE cabinet approved an extradition treaty with India which will facilitate the transfer of convicts to spend the remaining jail term in their home country. The agreement is expected to help around 1,200 Indian prisoners who have been languishing in UAE prisons. As per the extradition agreement, Indian prisoners in the UAE jails, those who have been sentenced, will have a choice to spend the remaining prison term in India. The UAE also ratified a similar agreement with Pakistan.

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Avalanche kills six jawans in Siachen Six soldiers were killed and one is missing when an avalanche hit the Siachen glacier area on Dec 16th.Six men belonging to the 1st Assam Regiment, deployed in the Hanif sub-sector in Siachen glacier area, died in the avalanche hit around 7 AM, Army sources said in New Delhi. This is for the first time in several years that an avalanche has hit an Indian position in the glacier area, the sources said.The Assam unit is part of the 102 Siachen Brigade and is located at altitudes of around 15-16,000 feet. An avalanche had hit a Pakistani Army camp in the glacier area last year killing over 100 troops.India has deployed its troops in Siachen for close to 30 years now and has lost more people to the weather and terrain than to enemy bullets. However, it has brought down such casualties to a large extent by ensuring proper adaptation of the personnel to the conditions and through extensive scientific research by DRDO to improve living conditions of jawans there. India and Pakistan, which have held several rounds of talks to resolve the Siachen issue, were close to an agreement a few years back on demilitarising the region but the accord failed to see the light of the day as Pakistan refused to authenticate its military position. Siachen Glacier The Siachen Conflict, sometimes referred to as the Siachen War, is a military conflict between India and Pakistan over the disputed Siachen Glacier region in Kashmir. A cease-fire went into effect in 2003. The conflict began in 1984 with India's successful Operation Meghdoot during which it wrested control of the Siachen Glacier (unoccupied and not demarcated area). India has established control over all of the 70 kilometres (43 mi) long Siachen Glacier and all of its tributary glaciers, as well as the three main passes of the Saltoro Ridge immediately west of the glacierSia La, Bilafond La, and Gyong La. Pakistan controls the glacial valleys immediately west of the Saltoro Ridge. According to TIMEmagazine, India gained more than 1,000 square miles (3,000 km2) of territory because of its military operations in Siachen. The Siachen Glacier is located in the eastern Karakoram range in the Himalaya Mountains at about35.421226N 77.109540E, just north-east of the point NJ9842 where the Line of Control between India and Pakistan ends.[4]At 70 km (43 mi) long, it is the longest glacier in the Karakoram and second-longest in the world's non-polar areas It falls from an altitude of 5,753 m (18,875 ft) above sea level at its head at Indira Col on the China border down to 3,620 m (11,875 ft) at its terminus.
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The Siachen Glacier lies immediately south of the great watershed that separates the Eurasian Plate from the Indian subcontinent in the extensively glaciated portion of the Karakoram sometimes called the "Third Pole". The glacier lies between the Saltoro Ridge immediately to the west and the main Karakoram range to the east. The Saltoro Ridge originates in the north from the Sia Kangri peak on the China border in the Karakoram range. The Indian Army has developed various means to reach the Siachen region, including the DelhiManali-Leh-Siachen route. The Siachen glacier is the highest battleground on earth, where India and Pakistan have fought intermittently since April 13, 1984. Both countries maintain permanent military presence in the region at a height of over 6,000 metres (20,000 ft). More than 2000 people have died in this inhospitable terrain, mostly due to weather extremes and the natural hazards of mountain warfare. The conflict in Siachen stems from the incompletely demarcated territory on the map beyond the map coordinate known as NJ9842. The 1972 Simla Agreement did not clearly mention who controlled the glacier, merely stating that from the NJ9842 location the boundary would proceed "thence north to the glaciers." UN officials presumed there would be no dispute between India and Pakistan over such a cold and barren region A cease-fire went into effect in 2003. Even before then, every year more soldiers were killed because of severe weather than enemy firing. The two sides by 2003 had lost an estimated 2,000 personnel primarily due to frostbite, avalanches and other complications. Together, the nations have about 150 manned outposts along the glacier, with some 3,000 troops each. Official figures for maintaining these outposts are put at ~$300 and ~$200 million for India and Pakistan respectively. India built the world's highest helipad on the glacier at Point Sonam, 21,000 feet (6,400 m) above the sea level, to supply its troops. The problems of reinforcing or evacuating the high-altitude ridgeline have led to India's development of the Dhruv Mk III helicopter, powered by the Shakti engine, which was flight-tested to lift and land personnel and stores from the Sonam post, the highest permanently manned post in the world. India also installed the world's highest telephone booth on the glacier. The Indian army controls all of the 70 kilometres (43 mi) long Siachen Glacier and all of its tributary glaciers, as well as the three main passes of the Saltoro Ridge immediately west of the glacierSia La, Bilafond La, and Gyong Lathus holding onto the tactical advantage of high ground. The Pakistanis control the glacial valley just five kilometers southwest of Gyong La. The Pakistanis have been unable get up to the crest of the Saltoro Ridge, while the Indians cannot come down and abandon their strategic high posts. The line between where Indian and Pakistani troops are presently holding onto their respective posts is being increasingly referred to as the Actual Ground Position Line (AGPL). The
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only Param Vir Chakra India's highest gallantry award to be awarded for combat in the Siachen area went to Naib Subedar Bana Singh (retired as Subedar Major/Honorary Captain), who in a daring daylight raid, assaulted and captured a Pakistani post atop a 22,000 foot (6,700 m) peak, now named Bana Post, after climbing a 457 m (1500 feet) ice cliff face REGIONAL Narendra Modi wins third time in a row; Cong unseats BJP in Himachal Registering a third consecutive win in the Gujarat Vidhan Sabha elections with a nearly twothirds majority, Chief Minister Narendra Modi asked the six crore people of the State to take the message of development and good governance to other States.Modi himself won his Maninagar seat with a margin of over 86,000 votes, defeating his nearest Congress rival Shweta Bhatt, wife of suspended IPS officer Sanjeev Bhatt.Although the BJP won 115 seats in a house of 182, two less than it won in 2007 (117), four of its ministers, including Health Minister Jaynarayan Vyas and Agriculture Minister Dilip Sanghani lost the polls.The State BJP chief R. C. Faldu also lost his seat. The Congress party won 61 seats, two more than in 2007, although both GPCC President Arjun Modhwadia and Leader of the Opposition Shaktisinh Gohil lost their seats, and resigned their posts.The Gujarat Parivartan Party (GPP), floated by dissident BJP leader Keshubhai Patel, won two seats. Two seats went to NCP, one to JD(U) and one to other candidate.Among the notables who won were former Chief Ministers Keshubhai Patel (GPP) and Shankersinh Vaghela (Congress). GPP General Secretary Gordhan Jhadafia lost his seat. However, Congress extracted a sweet revenge defeating BJP in the hill State of Himachal Pradesh. The party secured a wafer-thin majority of 36 in a House of 68, one more than the halfway mark of 35.The BJP managed to get only 26 while independents got 5 and Himachal Loktantrik Party one. In the last elections, the BJP got 41 and Congress 23. Golden Cards for industrialists in Uttar Pradesh The Uttar Pradesh govt will issue Golden Card to to industrialists andindustrial associations for easy access to its offices. What is a Golden Card? A Golden Card will be like an identity (ID) card with the holders photo. It will allow entry of industrialists to the state secretariat and government departments on priority basis without hurdles. The right to visit card will be treated at par with ID cards issued by the secretariat. To whom these cards will be issued?

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The cards will be issued to national presidents, state presidents and general secretaries of national-level industrial associations such as the Confederation of Indian Industries (CII), PHD Chamber of Commerce & Industry (PHDCCI), Indian Industries Association (IIA), Associated Chamber of Commerce and Industry (Assocham) and Federation of Indian Chambers of Commerce and Industry (FICCI). Esteemed investors, who intend to invest more than Rs.200 crore in Uttar Pradesh, will also be issued the cards. Promoters of such projects or their nominated representative will be able to access this facility. A maximum of two cards will be allowed per association while state-level industrial associations will be allowed one card each.

New Act will provide food security to 90% of Chhattisgarh population The Chhattisgarh State governments Food Security Act passed on Friday goes further than the UPAs bill by extending food security to nearly 90% of the States population. Further, the Chhattisgarh Act clearly states that the entitlements shall be on household basis with a family size of 4.47 in rural and 4.79 in urban areas. This is opposed to the central government limiting provision of foodgrains for the Public Distribution System to per person rather than per household. Going beyond the Centres definition of Antyodaya, the Chhattisgarh government has declared as Antyodaya households all families of vulnerable social groups including tribal groups, widows or single women, terminally ill persons, physically challenged persons, elderly-headed households with no assured means of subsistence and persons freed from bonded labour. Pregnant women, lactating mothers, malnourished children, children between six months and 14 years and all students in hostels or ashrams will get mandatory subsidised foodgrains. The State has 78 per cent rural and 22 per cent urban population. The Chhattisgarh Act provides for exclusion of all households that are income tax payees. In non-scheduled areas all such households that own more than 4 hectares of irrigated land or eight hectares of non-irrigated land have been excluded from the Act. In addition, in urban areas all such households that own a pucca house (concrete roof) of carpet area of more than 1,000 sq ft and are liable to pay property tax have been excluded. By this yardstick the government estimates exclusion of 10 per cent households and a reduction of eight per cent in Above Poverty Line households who are currently beneficiaries. The proposed legislation marks a basic change in the idea and method of addressing the problem of food security from the current welfare approach to rights-based approachThe
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objective of the Bill is to ensure adequate food at affordable prices for all eligible households in the State with dignity and in pursuance of their right to be free from hunger and other deprivations associated with lack of food, states the statement of objects and reasons of the Bill. The Act will be notified in six months.

Rajasthan witnesses its first ever recall vote For the first time in Rajasthan, an election for recalling an elected chairman of a municipal body was held in Mangrol Municipality area of Baran district on Thursday. In accordance to the Rajasthan Municipal Act 2009 that gives the voter with the right to recall, people of the municipality voted in the election on Thursday. The motion for right to recall against the chairman Ashok Jain, was passed in January for his alleged under-performance.In November 2009, Mr. Jain, who had contested as an independent candidate, was elected chairman of the Mangrol Municipality Board.In the first ever public referendum in the State, 65.71 per cent of the 16,735 voters exercised their franchise. INTERNATIONAL $1.5 billion fine on UBS over Libor manipulation Swiss bank UBS has been fined $1.5 billion over the manipulation of Libor benchmark rate. It is the second biggest fine ever on a global bank after HSBC which was recently fined a record $1.92 billion after being accused by U.S. prosecutors of failing to enforce rules designed to prevent money laundering.

U.S. recognition of Syrian rebels draws protests

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Russia and China have rejected the U.S. move to recognise the Syrian opposition, mostly based abroad, and reiterated that the prolonged crisis can be resolved only by Syrians themselves, based on an inclusive internal dialogue. Russian Foreign Minister Sergei Lavrov said on Wednesday he was surprised by President Barack Obamas recognition of the recently re-configured opposition. He pointed out that Mr. Obamas assertion meant that the Americans were still hoping for a military solution by placing all its bets on an armed victory of the National Coalition. Mr. Lavrov stressed that it was not by following a partisan approach but only by pursuing the Geneva accord, which had recommended an internationally backed intra-Syrian dialogue, that an amicable Syrian political transition can be achieved. U.N. Secretary-General Ban Ki-moon, the former U.N. negotiator on Syria, Kofi Annan, Arab League Secretary-General Nabil al-Arabi, the U.S. Secretary of State as well as the Foreign Ministers of Russia, China, Britain, France, Turkey, Qatar, Kuwait, and Iraq had all attended the Geneva meeting in June. The Geneva accord had formally endorsed a plan that would allow the participation of members of the government of President Bashar al-Assad in a broad national coalition that would steer the transition. Mr. Annan had gone out of his way then to stress that the transitional government could include members of the present government and the opposition and other groups and shall be formed on the basis of mutual consent. Chinese Foreign Minister Yang Jiechi had also endorsed the position that settlement on the Syrian issue can only be Syrian-led and acceptable to relevant parties in Syria. On Wednesday, Mr. Lavrovs observations seemed to suggest that differences between Moscow and Washington over Syria may have widened. He said Mr. Obamas recognition of the National Coalition for Syrian Revolutionary and Opposition Forces contradicted the agreements stipulated by the Geneva communiqu, which presume the starting of a common Syrian dialogue. Larger plan Analysts point out that the shift in the American position is part of a larger plan to arm the Syrian opposition that is not aligned with al-Qaeda. The Independent reported that a west-led coalition had drawn up a plan to provide military training to the Syrian rebels fighting the Assad regime and support them with air and naval power.

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The daily said General Sir David Richards, head of the British armed forces had hosted a confidential meeting in London a few weeks ago attended by the military chiefs of France, Turkey, Jordan, Qatar and the UAE, and a three-star American general, in which the strategy was discussed at length. Turkey could be one possible venue where camps can be established to impart the training. According to Le Figaro, French military advisers have met opposition groups in Lebanon, across the Syrian border.While western media is replete with reports about preparations for a final push to topple the Assad government, there is a counterview that the Russians are also quietly supplying the Syrian forces with advanced weaponry. Mashregh, the Iranian Revolutionary Guard media outlet, reported that Russia has delivered to Syria, the first consignment of the powerful Iskander missiles, which are hard to destroy in mid-air because of their high supersonic speeds. North Korea rocket launch stirs regional tensions

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North Korea said it had successfully put a satellite into orbit after launching a long-range rocket, in a move that has reignited regional tensions and was condemned by neighbours as a provocative missile-test. The launch was the Norths second attempt this year under the rule of Kim Jong-un, who took over following the death of his father Kim Jong-il. The test was hailed as a groundbreaking success by State media, and was seen by analysts as likely strengthening the new leaders position even as the country grapples with a dire economic situation. The initial success of the launch confirmed by U.S. and South Korean monitoring agencies was seen as a surprise, coming after the North, or the Democratic Peoples Republic of Korea (DPRK), cited technical problems last week and extended the launch window to December 29. A launch in April the first under Kim Jong-un ended in failure after the rocket broke apart minutes after taking off.That the North which maintains that the launch was only aimed at putting a satellite into orbit and was not a missile test has appeared to master the technology to launch a long-range missile brought anxious reactions from South Korea and Japan, which say the move is a disguised missile test that has flouted Security Council resolutions.U.N. SecretaryGeneral Ban Ki-moon condemned the launch, describing it as a clear violation of the 2009 resolution that banned the North from carrying out tests using ballistic missile technology. South Korean President Lee Myung-bak convened an emergency meeting, with the South Korean Defence Ministry saying in a statement that it saw the launch as a violation of the U.N. resolution.China, the Norths closest ally, adopted a more measured reaction. North Koreas launch of a rocket has put Indias plans to send a delegation to Pyongyang in March next year in the deep freeze. Consisting of officials and businessmen, the team would have assessed whether talk of economic reforms in the reclusive nation was for real. The delegation led by a senior government official was to leave for Pyongyang in early October this year but a hectic diplomatic calendar led to its postponement. The trip was then tentatively rescheduled for March next year because of the bitter winter in between. But informed sources said New Delhi would prefer to stay away from North Korea for the time being as the rocket launch violates U.N. Security Council Resolution 1874. There have been reports about North Korea undertaking agrarian reforms as well as wanting to attract investments. But confirmation is hard to get by and the visit would have helped evaluate the actual situation. Most of Pyongyangs trade is with China and several thousand North Koreans are working in some South Korean run industries. Some Indian officials witnessed the conditions in the North Korean country-side when they recently accompanied a U.N. team for the food aid programme. India contributed $1 million to
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the cause and was likely to allocate a similar amount around the time when the delegation was to visit North Korea. The plan to send a delegation has been welcomed by the India-North Korea Friendship Association whose chief Sumit Chopra described the initiative as timely. But there was no response to queries from the embassy of the Democratic Peoples Republic of Korea as North Korea is officially known. The postponement of the delegations visit should help cement ties with South Korea which had been looking at the move with apprehension. India has a lot of pending business with Seoul especially in the areas of defence and civil nuclear energy. In fact a South Korean Minister JuHo Lee is currently in town to expand partnerships to the science and technology sector. At the same time, the sources said Pyongyang need not feel worried because India does not take sides and hopes North Korea will move to a nuclear-free peninsula and sort out its nuclear issues through six- party talks. India has described the launch as unwarranted.

CONCERN While Beijing had earlier expressed concern over the Norths actions, Foreign Ministry spokesperson Hong Lei told a briefing that China believes the Security Councils response should be cautious and moderate, protect the overall peaceful and stable situation on the Korean peninsula, and avoid an escalation of the situation. Island row could turn into military clash: Chinese daily

The row over the disputed East China Sea islands "could easily veer into a serious military clash", a state-run Chinese daily warned Friday, a day after Japan scrambled fighter jets after a Chinese plane flew into its airspace. An article in the Global Times said that the Chinese marine surveillance plane flew over the Diaoyu Islands, joining the vessels patrolling the islands for the first time. "This marks another important step for China in safeguarding the sovereignty of the islands," it said.
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The daily observed that there was no direct confrontation between the two sides, but Japan showed a hardline stance in its determination to win over China in the Diaoyu Islands dispute. Relations between the two countries have plummeted over their claims to the islands. Japan claims it has occupied the islands since 1895, while China maintains the islands were recognized as Chinese as early as 1783. The tension between the two Asian powers boiled over again after Japan announced in September the purchase of three of the islands of the disputed island chain, which sparked violent anti-Japan protests in a number of Chinese cities that in turn led to the suspension of events commemorating the 40th anniversary of the two countries' renewal of diplomatic ties and forced many Japanese companies in China to suspend operations temporarily. The Chinese daily said that the dispute has intensified this year due to "Japan's provocations". "China has adopted a firm approach. In the past, the Japanese Coast Guard has deployed vessels around the islands, and claimed it had "actual control" over them. However, when individual Chinese ships entered the 12-nautical-mile zone around the islands, they were detained by Japan. "This situation has changed. It has become normal for China's marine surveillance vessels to enter the 12-nautical-mile zone. Japan's "actual control" over the islands has gone," it said. The daily added that China has "gained the initiative in the dispute, but still faces great challenges". It went on to say that Japan aggressively used fighter jets to confront China's marine surveillance plane, escalating its provocations against China. "Japan claimed it has no intention of worsening the situation in the islands and is willing to resolve frictions with China peacefully, but what it did yesterday sends the opposite signal."The daily called for making China's air surveillance of the Diaoyu Islands "a regular move".

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Typhoon Bopha hits Philippines severely Philippines was hit by Typhoon Bopha which caused severe damage to life and property. It killed at least 325 people and damaged electricity supply, roads and bridges. The eastern Mindanao was most severely impacted province.

UN to resume debate on Arms Trade Treaty, US Gun association opposesDecember 29th, 2012

The U.N. General Assembly voted in favor of resuming debate on a draft international Arms Trade treaty to regulate the $70 billion global trade in conventional arms. The US has voted in favor as it was under tremendous pressure after December 15 shooting massacre of 20 children and six educators at an elementary school in Newtown, Connecticut. The negotiations will start in March 2013. Why such a treaty is required? The global trade in conventional weapons from warships and battle tanks to fighter jets and machine guns remains poorly regulated. No internationally binding standards exist to ensure that arms are transferred responsibly. Many Governments around the world are concerned about the absence of globally agreed rules to guide their decisions on arms transfers. In 2006, they have embarked on a preparatory process to negotiate a robust legally binding instrument to establish high common standards for international trade in conventional arms. This process paved the way for the United Nations Conference on an Arms Trade Treaty that was held in July 2012 at the United Nations in New York. The negotiations, despite all efforts, failed to reach a consensus. To reach an agreement, it was decided to resume the debate in March 2013. Why NRA is opposing the treaty? The move is being opposed by powerful U.S. National Rifle Association (NRA) which does not want any compromise in the constitutional right of American to own bear arms. The Second Amendment of the U.S. Constitution protects the right to bear arms. the pact could require the
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U.S. government to enact legislation to implement it, which the NRA fears could lead to tighter restrictions on gun ownership. Who are the top six arm-exporting nations? These are Russia, Britain, France, Germany, China and the United States. IntercontinentalExchange (ICE) to acquire NYSE Atlanta based exchange, IntercontinentalExchange Inc., is buying, more than 200 years old, New York Stock Exchange (NYSE) for about $8 billion. The deal has been approved by the boards of both companies, but still needs the clearance by regulators and shareholders of both companies. It is likely to close in the second half of 2013. IntercontinentalExchange, Inc., known as ICE, is an American financial company that operates Internet-based marketplaces which trade futures and over-the-counter (OTC) energy and commodity contracts as well as derivative financial products. U.S. House approves $633 billion Defense Authorization Bill U.S. House of Representatives approved the Defense Authorization Act of 2013, and it is now headed to the Senate for passing the $633 billion Pentagon budget. Highlights in the Bill: It covers the cost of ships, aircraft, weapons and military personnel as well as the war effort in Afghanistan. It provides for $528 billion for the Defense Departments base budget, $17 billion for defense and nuclear programs in the Energy Department and %88 billion for the war in Afghanistan Tightens sanctions on Iran and enhances security for US diplomatic missions after the attack on US Consulate in Benghazi, Libya and requests the Pentagon to report to Congress regarding the conflict in Syria on possible military options. Controversial sections arms sales to Taiwan and the Diaoyu Islands, on which China lays claim.
After referendum Egypt approves new constitution
Egypt voters approved a constitution drafted by President Mohamed Mursis Islamist allies. The new constitution was adopted with 63.8% of the vote which gave Islamists their third consecutive victory at the

polls since Hosni Mubarak was ousted in a 2011 revolution. RICH INDIA CIVIL SERVICES ACADEMY 7/3, Arul Illam, Subramaniya Nager Cross Street, Kodambakkam, Chennai-6000 024. Contact: 7373059333, 044-23725102. Approach: 10 min walk able distance from Kodambakkam and Mambalam Railway Stations or Panagal Park Bus stop.

The constitution draft was widely opposed by Mursis Leftist, liberal, secularist and Christian opponents because of vague language and lack of clarity over what would be status of minorities. What next? With this approval, the road for another parliamentary election is clear which is expected in about 2 months. Egypt has also imposed currency limit of $10,000 in foreign currency, to halt capital flight. Travelers cant travel in or out of the country with more than this limit. Some Egyptians have begun withdrawing their savings from banks in fear of tougher restrictions.

China launches worlds longest high-speed rail China launched service on the worlds longest high-speed railway on Wednesday with trains scheduled to run 2,298 kilometres between Beijing and Guangzhou in about eight hours. Travelling at an average speed of about 300 km per hour, the service would cut the journey time from more than 20 hours by conventional trains, state media said. The opening of the Beijing-Guangzhou line brought Chinas total length of operational highspeed railways to more than 9,300 km, reports said UN Security Council agrees to deploy forces in Mali The UN Security Council on Thursday authorized the deployment of an African-led international force to support Mali in its fight against terrorists and armed rebel groups in the north of the country. The Security Council said the African-led International Support Mission in Mali (AFISMA) will use all necessary means to assist the Malian government in recovering the areas in the north of its territory under the control of terrorist, extremist and armed groups. The force will reduce the threat posed by terrorist organizations and groups associated with extremist groups, while taking appropriate measures to reduce the impact of military action upon the civilian population. AFISMA, which will be deployed for an initial period of one year, is also tasked with assisting Malis defence and security forces, supporting the transitional government in the maintenance of peace and security, and protection of civilians.
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The African Union and Economic Community of West African States had been calling for deploying more than 3,000 military personnel to counter terrorist threats by armed groups that have seized areas in the north of Mali. Shinzo Abe elected as Japan's prime minister The lower house of Parliament has named conservative Shinzo Abe (shin-zoh ah-bay) as Japans new Pime Minister. The rise of Abe, whose nationalist positions have in the past angered Japans neighbors, ends more than three years at the helm for the Left-leaning Democratic Party of Japan and brings back the conservative, pro-big business Liberal Democratic Party that governed for most of the post-World War II era.Abe, who was also prime minister in 2006-2007, led the LDP to victory in parliamentary elections Dec. 16. He was to name his Cabinet later after a vote in Parliaments upper house, where his party is weaker. But the lower house has the final say.Earlier, the outgoing Prime Minister Yoshihiko Nodas Cabinet resigned Wednesday to clear the way for a vote in parliament to formally install the nations new leader, Shinzo Abe, a conservative whose nationalist positions have in the past angered Japans neighbours. According to media reports, he will give the finance portfolio to another former prime minister, Taro Aso. Fumio Kishida, who is an expert on issues relating to frictions on the southern island of Okinawa between residents and nearly 20,000 US troops based there, will likely become foreign minister, and the defense minister was expected to be Itsunori Onodera, who was in Mr. Abes previous administration. The LDP governed Japan for decades after it was founded in 1955. Before it was ousted, the LDP was hobbled by scandals and its own problems getting key legislation through a divided parliament.This time around, Abe has promised to make the economy his top priority and is expected to push for a 2 percent inflation target designed to fight a problem that was until recently relatively unique in the world deflation, or continually dropping prices, which deadens economic activity. The Japanese economy has been stuck in deflation for two decades. Besides generous promises to boost publicworks spending by as much as 10 trillion yen ($119 billion), according to party officials Mr. Abe is pressuring the central bank to work more closely with the government to reach the inflation target. Mahama retains presidency Ghana has one of the longest traditions of democracy in West Africa, and if all remains calm, this particular election shall mark the sixth consecutive peaceful transfer of power. Incumbent President John Dramani Mahama was declared the winner of Ghanas presidential election,
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winning 50.7 per cent of the votes polled, according to a statement by the election commission. His closest rival, Nana Akufo-Addo of the New Patriotic Party (NPP), who polled 47.7 per cent of the vote, has claimed wide-spread voter fraud and has refused to accept the result. Maldives to strengthen military ties with China Maldives held talks with his Chinese counterpart in Beijing seeking deepening military ties between the two countries. Both the nations are also boosting economic and diplomatic engagement. Around 25% of Maldives tourism flows from China. Last year, China opened its first Embassy in the Maldives. China views Maldives as an important country to engage with as it lies in Indian ocean, a strategically-significant location along sea lines that are being increasingly traversed by Chinese ships on piracy missions to the Gulf of Aden. China is considering Maldives for the purpose of supplying logistics and short rest to assist its long range voyages but denied speculations of establishing a military base in the country. Maldives has also negated rumors relating to Chinas hand in cancellation of GMR contract.

Obama picks Kerry to replace Hillary Barack Obama has nominated Senator John Kerry, the former Democratic Party presidential candidate, to replace Hillary Clinton as U.S. Secretary of State. During the 2004 presidential race, the Republicans launched fierce attacks on Mr. Kerrys credibility as he ran against George W. Bush, homing in on his military service in Vietnam. A well-funded campaign challenged his war hero status as a navy lieutenant commanding a gunboat, known as a Swift Boat, in the Mekong Delta where he won several medals. Mr. Kerry (69), chair of the Senate foreign relations committee, is expected to have a relatively easy ride through the congressional approval process. Some Republicans touted him as an alternative to Mr. Obamas preferred candidate, U.S. ambassador to the U.N. Susan Rice, who withdrew in the face of vehement opposition because of her role in the administrations initially misleading account of the attack that killed the ambassador to Libya. Palestine to get $100 million monthly "financial safety net" from Arab states Arab states have offered the Palestinian Authority a $100 million monthly"financial safety net" to aid Palestinian government tackle an economic crisis after the United Nations granted de facto statehood to Palestine. Reacting to the UN approval to Palestine as non-member state Israel has ordered to build 3,000 Jewish settler homes in the occupied West Bank and announced it would arrest payments of customs duties it collects on behalf of the Palestinians to pay an outstanding electricity bill.
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The crisis situation Palestinian economy is aggravating due to lack of foreign funding and Israel inhibitions on development. Palestine is facing a budget deficit of $1.5 billion for 2012, with donor funds expected to fulfill only $1.14 billion of this shortage. The Palestinian Authority (PA) administers limited self-rule in the West Bank and gets most of its aid from the USA, the European Union and Arab states. But reduction in aid from Arab states over past some years has resulted in the PA being unable to pay salaries to its 153,000 civil servants on time on several occasions.

WTO race wide open as New Zealand, Kenya, Jordan, Mexico join Four candidates compete as Pascal Lamy exits in August as head of the World Trade Organization; The winner should be announced by end of May The field of candidates to succeed Pascal Lamy as head of the World Trade Organization burst open on Friday, as New Zealand, Mexico, Jordan and Kenya threw names into the ring with 10 days left for nominations. Kenya's Amina Mohamed, deputy head of the United Nations Environment Programme, became the third woman and second African contender, while Jordan nominated former minister of trade and industry Ahmad Hindawi, the first Middle Eastern nominee so far. Mexico put forward its former trade minister Herminio Blanco, who negotiated the North American Free Trade Agreement. Earlier on Friday New Zealand nominated its trade minister Tim Groser, who joins Ghana's Alan Kyerematen, Costa Rica's Anabel Gonzalez and Indonesia's Mari Pangestu in the race to take over after Lamy's second term expires on 31 August. Many trade diplomats think the job should go to an African, Latin American or Caribbean candidate, since all but one head of the 17-year-old WTO has been from developed countries. The exception was Thailand's Supachai Panitchpakdi. The boom in disputes is forcing the WTO to reallocate staff, according to diplomats and documents at the global trade body in Geneva that in August had 157 members. PERSONALITIES IN THE NEWS
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Devendra Lal (83), who was a geophysicist and visiting professor at the Scripps Institution of Oceanography (SIO) of the University of California, San Diego, has passed away. Contibutions: Started his career at the Tata Institute of Fundamental Research (TIFR), Mumbai. Worked on cosmic ray physics, earth and planetary sciences and astrophysics. Major role in setting up the national radiocarbon laboratory at the TIFR to facilitate the chronological studies of Indian archaeological sites going back to the Harappan era. Established a tritium laboratory at TIFR, which was later shifted to the National Geophysical Research Institute, Hyderabad. Awards: Shanti Swarup Bhatnagar Award in 1967 Padma Shri in 1971 NASA Group Achievement Award (Skylab III) Hans Peterson Medal from the Royal Swedish Academy Aberdeen Shihab Poet and translator Dr Shihab Ghanem has become the first Emirati and Arab to win the Tagore Peace Prize. Ghanem was given the honor in recognition of his creative literary and translation works, both in Arabic and English, and for disseminating human understanding and values of love and peace Tagore had advocated. Tagore Peace Prize Instituted by the Indian government to commemorate the 150th birth anniversary of Rabindranath Tagore. The Asiatic Society, which was founded in 1784, gives the international award every two years in memory of Indian philosopher, writer, playwright, songwriter, poet, philosopher, educator Rabindranath Tagore.
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Park Geun-hye Park Geun-hye (born 2 February 1952) is the president-elect of South Korea following presidential election on 19 December 2012, and will be the first female president of South Korea. She was the chairwoman of the conservative Grand National Party (GNP) between 2004 and 2006 and between 2011 and 2012 (the GNP changed its name to "Saenuri Party" in February 2012). Park is a member of the Korean National Assembly who had served four consecutive parliamentary terms as a constituency representative between 1998 and 2012, and started her fifth term as a proportional representative from June 2012. Her father was Park Chung-hee, who was president from 1963 to 1979. She is considered the most influential politician in Korea sincethe "three Kims" (Kim Young-sam, Kim Dae-jung, and Kim Jong-pil. Naina Lal Kidwai Country Head, HSBC India, and Director, HSBC Asia Pacific, Naina Lal Kidwai took over as the first woman President of the Federation of Indian Chambers of Commerce and Industry (FICCI) .Ms. Kidwai took charge at the end of the 85 annual general meeting from R.V. Kanoria.Chairman of Xpro India Limited and Digjam Limited Sidharth Birla took over as Senior Vice-President. Chairperson and Managing Director of Bharat Hotels Jyotsna Suri is the new Vice-President. Rangaswamy Srinivasan A renowned Indian-American inventor at IBM, Rangaswamy Srinivasan, has been nominated by U.S. President Barack Obama for the prestigious National Medal of Technology and Innovation. Along with Mr. Srinivasan, President Obama named 12 eminent researchers as recipients of the National Medal of Science and 10 extraordinary inventors for the National Medal of Technology and Innovation, the highest honours bestowed by the U.S. government upon scientists, engineers, and inventors.The recipients will receive their awards at a White House ceremony in early 2013. In 1981, Mr. Srinivasan discovered that an ultraviolet excimer laser could etch living tissues in a precise manner with no thermal damage to the surrounding area. He named the phenomenon Ablative Photo Decomposition (APD). According to his profile on the Hall of Fame website, Mr. Srinivasan and his co-inventors ran tests using the excimer laser and a conventional, green laser to etch organic matter. They discovered that while the green laser
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produced rough incisions, damaged by charring from the heat, the excimer laser produced clean, neat incisions. In 1983, he collaborated with an ophthalmic surgeon to develop APD to etch the cornea. It resulted in a procedure to correct vision known today as Lasik surgery. Since the introduction of Lasik, millions of people have taken advantage of this procedure that reduces dependency on corrective lenses. Inducted into the U.S. Inventor Hall of Fame in 2002, Mr. Srinivasan has spent 30 years at IBMs T.J. Watson Research Center. He has 21 U.S. patents under his name and received both his Bachelors and Masters degrees in science from the University of Madras, in 1949 and 1950. He earned doctorate in physical chemistry at the University of southern California in 1956. The National Medal of Technology and Innovation was created by statute in 1980 and is administered for the White House by the U.S. Department of Commerces Patent and Trademark Office. The award recognises those who have made lasting contributions to Americas competitiveness and quality of life and helped strengthen the nations technological workforce.The National Medal of Science was created in 1959 and is administered for the White House by the National Science Foundation. An excimer laser (sometimes more correctly called an exciplex laser) is a form of ultraviolet laser which is commonly used in the production of microelectronic devices (semiconductor integrated circuits or chips), eye surgery, and micromachining. The ultraviolet light from an excimer laser is well absorbed by biological matter and organic compounds. Rather than burning or cutting material, the excimer laser adds enough energy to disrupt the molecular bonds of the surface tissue, which effectively disintegrates into the air in a tightly controlled manner through ablation rather than burning. Thus excimer lasers have the useful property that they can remove exceptionally fine layers of surface material with almost no heating or change to the remainder of the material which is left intact. These properties make excimer lasers well suited to precision micromachining organic material (including certain polymers and plastics), or delicate surgeries such aseye surgery LASIK. Leslie Claudius Leslie Walter Claudius (25 March 1927 - 20 December 2012) was an Indian field hockey player from Bilaspur. Leslie was part of the legendary trio of Indian Hockey along with Major Dhyan Chand and Roop Singh. The prolific player was a member of India's golden generation of hockey that won the Olympic gold in London 1948, Helsinki 1952 and Melbourne 1956. The midfielder was the first Indian hockey player who played over one hundred games for his country.
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In 1971 he was awarded the Padma Shri. Mention in the Guinness Book of World Records along with Udham Singh for having won the maximum number of Olympic medals in field hockey For the 2012 Olympics the Bushey tube station was renamed after Claudius in the special "Olympic Legends Map". He was one of six all time hockey greats who were honored in this manner.

Norman Joseph Woodland Norman Joseph Woodland (also known as N. Joseph Woodland and N. J. Woodland; September 6, 1921 December 9, 2012) was best known as one of the inventors of the barcode, for which he received US Patent in October 1952. In 1973 IBM presented Woodland with their Outstanding Contribution Award. In 1992 he was awarded the National Medal of Technology from President George H. W. Bush for his contribution to barcode technology. In 1998 Woodland received an honorary degree from his alma mater, Drexel University. In 2011 Woodland was inducted into the National Inventors Hall of Fame. Besse Cooper

The oldest person on this earth Besse Cooper passed away at the age of 116. She was from Georgia. In 2011, she was chosen as the worlds oldest woman by the Guinness World Records. After her death, the title now belongs to 115-year-old Dina Manfredini, of Johnston, Iowa. Jeanne Calment of France is the oldest known person of all time who lived to be 122 years old and died in 1997.

SUDEEP SEN Delhi-based poet Sudeep Sen has been invited to address the Nobel Laureate Week being held in Saint Lucia, a sovereign island country in the eastern Caribbean Sea, in January.Mr. Sen is the first Indian, and the only one thus far from the Asian, Australasian-Pacific, African, South American region, to be chosen for the honour. He will deliver the Derek Walcott Lecture and present his own poetry. Saint Lucia is home to Nobel Laureate and noted playwright Derek Walcott.
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The prestigious event will be attended, among others, by literary giants, critics and publishers, including Mr. Walcott, Irish poet Seamus Heaney and Nigerian writer Wole Soyinka. A select group of younger writers from around the world, handpicked by past laureates and the Nobel Laureate Week Committee, will also be part of the event.The Week is celebrated in January every year to honour the Nobel Laureates who call Saint Lucia their home.Saint Lucia claims to have per capita more Nobel Laureates than any other country. Mr. Walcott won the Nobel Prize in Literature in 1992, while Arthur Lewis won the Nobel Prize in Economics in 1979.The celebration, beginning on January 23, birth day of both Mr. Walcott and Lewis, will consist of two major lectures, panel discussions, plays, poetry, drama and music. Mr. Sen is the recipient of several awards and fellowships, including Hawthornden Fellowship (U.K.), the Pushcart Prize nomination (U.S.), BreadLoaf (U.S.) and Pleiades (Macedonia). He was international writer-in-residence at the Scottish Poetry Library (Edinburgh) and visiting scholar at Harvard University. He is the author of the critically acclaimed books The Lunar Visitations,Dalis Twisted Hands and Postmarked India: New and Selected Poems. His poems have been translated into 25 languages and have featured in international anthologies from Penguin, HarperCollins, Bloomsbury, Routledge, Norton, Knopf, Everyman, Random House, Macmillan, and Granta. PANDIT RAVI SHANKAR Ravi Shankar (Robindro Shaunkor Chowdhury, 7 April 1920 11 December 2012), often referred to by the title Pandit, was an Indian musician and composer who played the sitar, a plucked-string instrument. He was described as the best-known contemporary Indian musician. Shankar was born in Varanasi and spent his youth touring Europe and India with the dance group of his brother Uday Shankar. He gave up dancing in 1938 to study sitar playing under court musician Allauddin Khan. After finishing his studies in 1944, Shankar worked as a composer, creating the music for the Apu Trilogy by Satyajit Ray, and was music director of All India Radio, New Delhi, from 1949 to 1956. In 1956, he began to tour Europe and the Americas playing Indian classical music and increased its popularity there in the 1960s through teaching, performance, and his association with violinist Yehudi Menuhin and rock artist George Harrison of The Beatles. Shankar engaged Western music by writing concerti for sitar and orchestra and toured the world in the 1970s and 1980s. From 1986 to 1992 he served as a nominated member of the upper chamber of the Parliament of India. Shankar was awarded India's highest civilian honour, the Bharat Ratna, in 1999, and received three Grammy Awards. He continued to perform in the 2000s, often with his younger daughter, Anoushka. Harrison met Shankar in London in 1966 and visited India for six weeks to study sitar under Shankar in Srinagar.During the visit, a documentary film about Shankar named Raga was shot
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by Howard Worth, and released in 1971.Shankar's association with Harrison greatly increased Shankar's popularity and Ken Hunt of Allmusic would state that Shankar had become "the most famous Indian musician on the planet" by 1966. In 1967, he performed at the Monterey Pop Festival and won a Grammy Award for Best Chamber Music Performance for West Meets East, a collaboration with Yehudi Menuhin. The same year, the Beatles won the Grammy Award for Album of the Year for Sgt. Pepper's Lonely Hearts Club Band which included "Within You Without You" by Harrison, a song that was influenced by Indian classical music. Shankar opened a Western branch of the Kinnara School of Music in Los Angeles, California, in May 1967, and published an autobiography, My Music, My Life, in 1968.In 1968, he scored for the movie Charly. He performed at the Woodstock Festival in August 1969, and found he disliked the venue. In the 1970s Shankar distanced himself from the hippie movement Shankar won the Silver Bear Extraordinary Prize of the Jury at the 1957 Berlin International Film Festival for composing the music for the movie Kabuliwala. He was awarded theSangeet Natak Akademi Award for 1962, and was named a Fellow of the academy for 1975. Shankar was awarded the three highest national civil honours of India: Padma Bhushan, in 1967, Padma Vibhushan, in 1981, and Bharat Ratna, in 1999. He received the music award of the UNESCO International Music Council in 1975, three Grammy Awards, and was nominated for an Academy Award. Shankar was awarded honorary degrees from universities in India and the United States. He received the Kalidas Samman from the Government of Madhya Pradesh for 198788, the Fukuoka Asian Culture Prize in 1991, the Ramon Magsaysay Award in 1992, and the Polar Music Prize in 1998. In 2001, Shankar was made an honorary Knight Commander of the Order of the British Empire by Elizabeth II for his "services to music". Shankar was an honorary member of the American Academy of Arts and Letters and in 1997 received the Praemium Imperiale for music from the Japan Art AssociationThe American jazz saxophonist John Coltrane named his son Ravi Coltrane after Shankar. In 2010, Shankar received an Honorary Doctor of Laws from the University of Melbourne, Australia. He was also awarded France's highest civilian honour, the Knight of the Legion of Honour. Post his death, Grammy has announced Pandit Ravi Shankar as a recipient of the lifetime achievement Grammy like Glenn Gould, Charlie Haden, Lightnin Hopkins, Carole King, Patti Page and the Temptations. Justice Swatanter Kumar is new NGT chief Justice Swatanter Kumar has become the first Supreme Court judge to be the chairperson of the National Green Tribunal (NGT) which was, till now, functioning without a full-time
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chairperson. He will decide on cases pertaining to environmental protection, and conservation of forests and natural resources. What is NGT? The National Green Tribunal was set up in 2010 in compliance with the National Green Tribunal Act 2010 to provide effective and speedy disposal of cases relating to environmental protection and conservation of forests and other natural resources including enforcement of any legal right relating to environment and giving relief and compensation for damages to persons and property and for matters connected therewith or incidental thereto. It is a specialized body equipped with the necessary expertise to handle environmental disputes involving multidisciplinary issues. 5 Places where NGT is proposed to be set up for its sittings: 1. Principal Place: Delhi 2. Bhopal 3. Pune 4. Kolkata 5. Chennai

Patrick Moore Sir Patrick Alfred Caldwell-Moore (4 March 1923 9 December 2012) was an English amateur astronomer who attained prominent status in that field as a writer, researcher, radio commentator and television presenter. Moore was a former president of the British Astronomical Association, co-founder and former president of the Society for Popular Astronomy (SPA), author of over 70 books on astronomy, and presenter of the world's longest-running television series with the same original presenter, the BBC's The Sky at Night. As an amateur astronomer, he became known as a specialist in Moon observation and for creating the Caldwell catalogue. Idiosyncrasies such as his rapid diction and monocle made him a popular and instantly recognisable figure on British television. Moore was also a self-taught xylophone player and pianist, as well as an accomplished composer. He was a former amateur cricketer, golfer and chess player. In addition to
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many popular science books, he wrote numerous works of fiction. Moore was an opponent of fox hunting, an outspoken critic of the European Union and served as chairman of the short-lived anti-immigration United Country Party. He served in the Royal Air Force during World War II; his fiance was killed by a bomb during the war and he never married.

SCIENCE AND TECHNOLOGY ITER International Thermonuclear Experimental Reactor is an international nuclear fusion research and engineering project, which is currently building the world's largest and most advanced experimental tokamak nuclear fusion reactor at the Cadarache facility in the south of France.[1] The ITER project aims to make the long-awaited transition from experimental studies of plasma physics to full-scale electricity-producing fusion power plants. The project is funded and run by seven member entities the European Union (EU), India, Japan, China, Russia, South Korea and the United States. The EU, as host party for the ITER complex, is contributing 45% of the cost, with the other six parties contributing 9% each. The ITER fusion reactor itself has been designed to produce 500 megawatts of output power for 50 megawatts of input power, or ten times the amount of energy put in.[5] The machine is expected to demonstrate the principle of producing more energy from the fusion process than is used to initiate it, something that has not yet been achieved with previous fusion reactors. Construction of the facility began in 2007, and the first plasma is expected to be produced in 2020.[6] When ITER becomes operational, it will become the largest magnetic confinement plasma physics experiment in use, surpassing the Joint European Torus. The first commercial demonstration fusion power plant, named DEMO, is proposed to follow on from the ITER project to bring fusion energy to the commercial market. Nuclear fusion has many potential attractions. Firstly, its hydrogen isotope fuels are relatively abundant - one of the necessary isotopes, deuterium, can be extracted from seawater, while the other fuel, tritium, could possibly be created using neutrons produced in the fusion reaction itself. Furthermore, a fusion reactor would produce virtually no CO2 or other atmospheric pollutants, and its other radioactive waste products would be very short-lived compared to those produced by conventional nuclear reactors. ITER's mission is to demonstrate the feasibility of fusion power, and prove that it can work without negative impact.[18] Specifically, the project aims:

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To momentarily produce ten times more thermal energy from fusion heating than is supplied by auxiliary heating (a Q value of 10). To produce a steady-state plasma with a Q value greater than 5. To maintain a fusion pulse for up to 480 seconds. To ignite a 'burning' (self-sustaining) plasma. To develop technologies and processes needed for a fusion power plant including superconducting magnets and remote handling (maintenance by robot). To verify tritium breeding concepts. To refine neutron shield/heat conversion technology (most of energy in the D+T fusion reaction is released in the form of fast neutrons).

When deuterium and tritium fuse, two nuclei come together to form a helium nucleus (an alpha particle), and a high-energy neutron. 2 1D + 3 1T 4 2He + 1 0n + 17.6 MeV While nearly all stable isotopes lighter on the periodic table than iron-56 and nickel-62, which have the highest binding energy per nucleon, will fuse with some other isotope and release energy, deuterium and tritium are by far the most attractive for energy generation as they require the lowest activation energy (thus lowest temperature) to do so, while producing among the most energy per unit weight. All proto- and mid-life stars radiate enormous amounts of energy generated by fusion processes. Mass for mass, the deuterium-tritium fusion process releases roughly three times as much energy as uranium 235 fission, and millions of times more energy than a chemical reaction such as the burning of coal. It is the goal of a fusion power plant to harness this energy to produce electricity. The activation energy for fusion is so high because the protons in each nucleus will tend to strongly repel one another, as they each have the same positive charge.

In nuclear physics, nuclear fusion is a nuclear reaction in which two or more atomic nuclei join together, or "fuse", to form a single heavier nucleus. During this process, matter is not conserved because some of the mass of the fusing nuclei is converted to energywhich is released. Fusion is the process that powers active stars.
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The fusion of two nuclei with lower masses than iron (which, along with nickel, has the largest binding energy per nucleon) generally releases energy, while the fusion of nuclei heavier than iron absorbs energy. The opposite is true for the reverse process, nuclear fission. This means that fusion generally occurs for lighter elements only, and likewise, that fission normally occurs only for heavier elements. There are extreme astrophysical events that can lead to short periods of fusion with heavier nuclei. This is the process that gives rise to nucleosynthesis, the creation of the heavy elements during events such as supernovae. Research into developing controlled thermonuclear fusion for civil purposes also began in earnest in the 1950s, and it continues to this day. Two projects, the National Ignition Facility and ITER are in the process of reaching breakeven, that is, producing as much energy as was required to ignite the reaction, after 60 years of design improvements developed from previous experiments n physics and chemistry, plasma is a state of matter similar to gas in which a certain portion of the particles is ionized. Heating a gas may ionize its molecules or atoms (reduce or increase the number of electrons in them), thus turning it into a plasma, which contains charged particles: positive ions and negative electrons or ions Possibilities of achieving Thermonuclear fusion If the matter is sufficiently heated (hence being plasma), the fusion reaction may occur due to collisions with extreme thermal kinetic energies of the particles. This process is called the thermonuclear fusion, and is the only one which seems to be useful for obtaining fusion energy. Beam-beam or beam-target fusion If the energy to initiate the reaction comes from accelerating one of the nuclei, the process is called beam-target fusion; if both nuclei are accelerated, it is beam-beam fusion. Accelerator-based light-ion fusion is a technique using particle accelerators to achieve particle kinetic energies sufficient to induce light-ion fusion reactions. Accelerating light ions is relatively easy, and can be done in an efficient mannerall it takes is a vacuum tube, a pair of electrodes, and a high-voltage transformer; fusion can be observed with as little as 10 kV between electrodes. The key problem with accelerator-based fusion (and with cold targets in general) is that fusion cross sections are many orders of magnitude lower than Coulomb interaction cross sections. Therefore the vast majority of ions end up expending their energy on bremsstrahlung and ionization of atoms of the target.

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Muon-catalyzed fusion Muon-catalyzed fusion is a well-established and reproducible fusion process that occurs at ordinary temperatures. It was studied in detail by Steven Jones in the early 1980s. Net energy production from this reaction cannot occur because of the high energy required to create muons, their short 2.2 s half-life, and the high chance that a muon will bind to the new alpha particle and thus stop catalyzing fusion. India to approach Cabinet on ITRs as U.N. Summit on Internet control collapses In a sensational development that impacts the Internet, a group of mainly African nations moved and won a resolution accompanied by a set of binding treaty-based International Telecom Regulations (ITRs) at the UNs World Conference on Internet and Telecommunications (WCIT) in Dubai.The move was supported by China, Russia and mostly Arab states. At the last count, 89 countries had endorsed the global treaty on telecom regulations by Friday, with nearly 45 nations led by the United States, the U.K., the European Union, Japan, Australia and even Kenya, either refusing to sign or buying time to study the proposals. India, which initially backed the ITRs and the accompanying resolution during a sudden vote, later announced that it would sign the Treaty only after consultation with domestic stakeholders. It is now learnt that the matter will be discussed and approved by the Cabinet. Governments do not have to sign immediately and have until January 1, 2015 to ratify the Treaty. Telecom Minister Kapil Sibal has been steadfast in maintaining that he prefers a multistakeholder consensus-based process for Internet governance and no role for the International Telecommunication Union (ITU) in content regulation. TRUST DEFICIT During the week, the U.S. and European delegations demonstrated their concern over a related development when China, Russia and other allies succeeded in passing a resolution by a show of hands to include the Internet within the ambit of ITU outside the Treaty text. A formal proposal by Russia and a secret UAE-led proposal supported by Russia and China surfaced, revealing these countries plans to bring the Internet under intergovernmental control through the ITU. Refusing to sign the Treaty, Ambassador Terry Kramer, head of the U.S. delegation, told a room full of 2,000 delegates from 193 countries, that the United States cannot sign the ITU regulations in its current form.

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Objections from countries which are refusing to sign the Treaty come on four counts. First, the inclusion of the Internet in the resolution, even though it is not a part of the binding text of the ITRs. Second, on Article 5B relating to unsolicited bulk electronic communication or spam which is seen as an open door to content regulation since spam is considered content. Third, lack of clarity on which agency or entities will be placed under the ITU regulations. And lastly, opposition to the fact that the ITU, an intergovernmental body, should not enter the Internet since it is better served through a transparent, bottom-up multi-stakeholder process. India said it supports the proposed ITRs and the Resolutions 1, 2, 4 and 5. We support the broad thrust of Resolution Plan 3 regarding an enabling environment for the greater growth of the Internet, particularly its recognition of the multi-stakeholder nature of the Internet and its wider social and economic impact within and across countries around the world. The International Telecommunication Union, originally founded as the International Telegraph Union, is a specialized agency of the United Nations which is responsible for information and communication technologies. The ITU coordinates the shared global use of the radio spectrum, promotes international cooperation in assigning satellite orbits, works to improve telecommunication infrastructure in the developing world, and assists in the development and coordination of worldwide technical standards. ITU also organizes worldwide and regional exhibitions and forums, such as ITU TELECOM WORLD, bringing together representatives of government and the telecommunications and ICT industry to exchange ideas, knowledge and technology. The ITU is active in areas including broadband Internet, latest-generation wireless technologies, aeronautical and maritime navigation, radio astronomy, satellite-based meteorology, convergence in fixed-mobile phone, Internet access, data, voice, TV broadcasting, and nextgeneration networks. ITU is based in Geneva, Switzerland, is a member of the United Nations Development Group and its membership includes 193 Member States and around 700 Sector Members and Associates. The ITU comprises three sectors, each managing a different aspect of the matters handled by the Union, as well as ITU Telecom: Radiocommunication (ITU-R) Managing the international radio-frequency spectrum and satellite orbit resources is at the heart of the work of the ITU Radiocommunication Sector (ITU-R).
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Standardization (ITU-T) ITU's standards-making efforts are its best-known and oldest activity; known prior to 1992 as the International Telephone and Telegraph Consultative Committee or CCITT (from its French name "Comit consultatif international tlphonique et tlgraphique") Development (ITU-D) Established to help spread equitable, sustainable and affordable access to information and communication technologies (ICT). The Internet Corporation for Assigned Names and Numbers is a nonprofit private organization headquartered in Los Angeles, California, United States, that was created on September 18, 1998, and incorporated on September 30, 1998 to oversee a number of Internetrelated tasks previously performed directly on behalf of the U.S. government by other organizations, notably the Internet Assigned Numbers Authority (IANA), which ICANN now operates. ICANN is responsible for the coordination of the global Internet's systems of unique identifiers and, in particular, ensuring its stable and secure operation. This work includes coordination of the Internet Protocol address spaces (IPv4 and IPv6) and assignment of address blocks to regional Internet registries, for maintaining registries of Internet protocol identifiers, and for the management of the top-level domain name space (DNS root zone), which includes the operation of root name servers. Most visibly, much of its work has concerned the DNS policy development for internationalization of the DNS system and introduction of new generic toplevel domains (TLDs). The actual technical maintenance work of maintenance of the central Internet address pools and DNS root registries ICANN performs pursuant to the "IANA function" contract. ICANN's primary principles of operation have been described as helping preserve the operational stability of the Internet; to promote competition; to achieve broad representation of the global Internet community; and to develop policies appropriate to its mission throughbottom-up, consensus-based processes. On September 29, 2006, ICANN signed a new agreement with the United States Department of Commerce (DOC) that moves the private organization towards full management of the Internet's system of centrally coordinated identifiers through the Multistakeholder Model of consultation that ICANN represents The World Wide Web Consortium (W3C) is the main international standards organization for the World Wide Web (abbreviated WWW or W3).
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Founded by Tim Berners-Lee at MIT and currently headed by him, the consortium is made up of member organizations which maintain full-time staff for the purpose of working together in the development of standards for the World Wide Web. As of 29 March 2012, the World Wide Web Consortium (W3C) has 351 members. W3C also engages in education and outreach, develops software and serves as an open forum for discussion about the Web. The Internet Engineering Task Force (IETF) develops and promotes Internet standards, cooperating closely with the W3C andISO/IEC standards bodies and dealing in particular with standards of the Internet protocol suite (TCP/IP). It is an open standards organization, with no formal membership or membership requirements. NASA names moon crash site in honour of Sally Ride A pair of NASA spacecraft crashed into a mountain near the moons north pole on dec 24th bringing a deliberate end to a mission that peered into the lunar interior. Engineers commanded the twin spacecraft, Ebb and Flow, to fire their engines and burn their remaining fuel. Ebb plunged first followed by Flow about 30 seconds later. Afterward, NASA said it had dedicated the final resting spot in honour of mission team member, Sally Ride, the first American woman in space who died earlier this year. By design, the impact site was far away from the Apollo landings and other historical sites.Since the back-to-back crashes occurred in the dark, they were not visible from Earth. The Lunar Reconnaissance Orbiter circling the moon will pass over the mountain and attempt to photograph the skid marks left by the washing machine sized-spacecraft as they hit the surface at 3,800 mph (6,100 kph). After rocketing off the launch pad in September 2011, Ebb and Flow took a roundabout journey to the moon, arriving over the New Years holiday on a gravity-mapping mission.More than 100 missions have been flung to Earths nearest neighbour since the dawn of the Space Age including NASAs six Apollo moon landings that put 12 astronauts on the surface.The loss of Ebb and Flow comes on the same month as the 40th launch anniversary of Apollo 17, the last manned mission to the moon.Ebb and Flow focused exclusively on measuring the moons lumpy gravity field in a bid to learn more about its interior and early history. After flying in formation for months, they produced the most detailed gravity maps of any body in the solar system.Secrets long held by the moon are spilling out. Ebb and Flow discovered that the lunar crust is much thinner than scientists had imagined. And it was severely battered by asteroids and comets in the early years of the solar system more than previously realised.Data so far also appeared to quash the theory that Earth once had two moons that collided and melded into the one we see today.
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Besides a scientific return, the mission allowed students to take their own pictures of craters and other lunar features as part of collaboration with a science education company founded by Ride, who died in July of pancreatic cancer at age 61. About 3,600 classrooms around the world participated, sending back 114,000 photos. Scientists expect to sift through data and images from the $487 million mission for years. Obtaining precise gravity calculations required the twins to circle low over the moon, which consumes a lot of fuel. During the primary mission, they flew about 35 miles (56 kilometres) above the lunar surface. After getting bonus data-collecting time, they lowered their altitude to 14 miles (23 kilometres) above the surface.With their fuel tanks almost on empty, NASA devised a controlled crash to avoid contacting any of the treasured sites on the moon. Mission controllers at the NASA Jet Propulsion Laboratory applauded when they lost the signal, one of the rare celebrations of a spacecrafts demise. The Lunar Reconnaissance Orbiter (LRO) is a NASA robotic spacecraft currently orbiting the Moon on a low 50 km polar mapping orbit. The LRO mission is a precursor to future manned missions to the Moon by NASA. To this end a detailed mapping program will identify safe landing sites, locate potential resources on the Moon, characterize the radiation environment, and demonstrate new technology. The probe will make a 3-D map of the Moon's surface and has provided some of the first images of Apollo equipment left on the Moon. The first images from LRO were published on 2 July 2009, showing a region in the lunar highlands south ofMare Nubium (Sea of Clouds). Launched on 18 June 2009, in conjunction with the Lunar Crater Observation and Sensing Satellite (LCROSS), as the vanguard of NASA's Lunar Precursor Robotic Program, this is the first United States mission to the Moon in over ten years. LRO and LCROSS are the first missions launched as part of the United States's Vision for Space Exploration program. On 21 August 2009, the spacecraft, along with the Chandrayaan-1 orbiter, attempted to perform a bistatic radar experiment to detect the presence of water ice on the lunar surface. The attempt was a failure; it turned out the Chandrayaan-1 radar was not pointed at the Moon during the experiment Apollo 17 was the final mission of the United States' Apollo lunar landing program, and was the sixth landing of humans on the Moon on December 7, 1972, with a three-member crew consisting of Commander Eugene Cernan, Command Module Pilot Ronald Evans, and Lunar Module Pilot Harrison Schmitt, Apollo 17 remains the most recent manned Moon landing and the most recent crewed flight beyond low Earth orbit. After Apollo 17, extra Apollo spacecraft were used in the Skylab and Apollo-Soyuz Test Project programs.

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Apollo 17 was the sixth Apollo lunar landing, the first night launch of a U.S. human spaceflight and the final crewed launch of a Saturn V rocket. It was a "J-type mission", missions including three-day lunar surface stays, extended scientific capability, and the third Lunar Roving Vehicle. (12 day mission approx.) The decision to land in the Taurus-Littrow valley was made with the primary objectives for Apollo 17 in mind: to sample lunar highland material older than the impact that formed Mare Imbrium and investigating the possibility of relatively young volcanic activity in the same vicinity. Apollo 17 also broke several records set by previous flights, including the longest manned lunar landing flight; the longest total lunar surface extravehicular activities; the largest lunar sample return, and the longest time in lunar orbit. The Gravity Recovery and Interior Laboratory (GRAIL) was an American lunar science mission in NASA's Discovery Program which used high-quality gravitational field mapping of the Moon to determine its interior structure. The two small spacecraft GRAIL A (Ebb) and GRAIL B (Flow) were launched on 10 September 2011 aboard a single launch vehicle: the most-powerful configuration of a Delta II. GRAIL A separated from the rocket about nine minutes after launch, GRAIL B followed about eight minutes later. They arrived at their orbits around the Moon 24 hours apart. The first probe entered orbit on 31 December 2011 and the second followed on 1 January 2012. The two spacecraft impacted the Lunar surface on December 17, 2012

Map the structure of the lunar crust and lithosphere Understand the asymmetric thermal evolution of the Moon Determine the subsurface structure of impact basins and the origin of lunar mascons Ascertain the temporal evolution of crustal brecciation and magmatism Constrain the deep interior structure of the Moon Place limits on the size of the Moon's inner core

NASA denies asteroid impact with Earth in 2040 The asteroid, 2011 AG5, which was previously thought to collide with the Earth in 2040 and had a collision chance of 1 in 500, will pass by earth harmlessly. As per NASA, the asteroid shouldnt get any closer than 890,000 kilometers about twice the distance between Earth and the moon. The asteroid which was discovered in 2011 is 140 metres in diameter and if it were to collide with the earth it would have released about 100 megatonnes of energy, several thousand times more powerful than the atomic bombs. As per statistical estimates, a body of this size could impact the Earth on average every 10,000 years.

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Voyager 1 enters into Magnetic Highway NASAs spacecraft Voyager 1, which was launched in 1977, has entered into unknown area, which is said to be the edge of the solar system. NASA calls the region a "magnetic highway" where particles from inside the suns magnetic sphere zoom out and higher-energy particles (galactic cosmic ray particles) from outside stream in. Voyager 1 may be very close to entering interstellar space and becoming the first manmade object to leave the Solar System. It is predicted to enter the interstellar medium b/w 201215. However, it will take another 40,000 years for it to fly by within 1.6 light years star Gliese 445, which is at present in the constellation Camelopardalis. But its battery, nuclear powered with plutonium-238, is running out due to which scientists will have to start shutting down its five still functioning devices to let it survive longer. It will be able to send data till 2025. Cyber Monday: Google India collaborates with e-Commerce companies to bring in Cyber Monday India will celebrate Great Online Shopping Festival where shoppers, via online shopping, will be offered best deals from e-Commerce, local & classified, online travel sites and BFSI industry. The concept, which is being brought here by Google India with other e-Commerce companies, is similar to Cyber Monday which is observed in majorly in the US and several other countries including Canada, UK, Portugal, Germany, Chile, Colombia, and Japan. What is Cyber Monday? Cyber Monday is a marketing term for the Monday after Black Friday, the Friday following Thanksgiving in USA. The term "Cyber Monday" was created by marketing companies to persuade people to shop online. What is the objective of this? The main objective of organizing this event is to encourage online shopping and boost the role of e-Commerce in the country. Nokia to sell its Finland head office building
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Nokia will sell its headquarter building in Espoo, Finland for $222 million as part of a drive to sell assets. Finnish real estate company Exilion will buy the building located by Baltic Sea. Nokia will lease it back on a "long-term basis". The company is also in trouble as it recently recorded its sixth consecutive quarterly loss as it proceeds with a vast restructuring programme. Rare supercomet C/2012 S1 (ISON) to appear brighter than Moon in 2013 As per astronomers, Earth will witness a rare supercomet, C/2012 S1 (ISON), rushing towards the Sun from the outer solar system and at its peak it may outshine the Moon in November, 2013. This is ISONs first trip to the inner solar system. Scientists expect it to put as good a show as Hale-Bopp did in 1997, which is believed to be the most widely observed comet of the 20thcentury and one of the brightest seen for many decades. Its observations will also throw light on material in the outer solar system 4.6 billion years ago, when ISON formed. In 2013, a different kind of celestial fireworks will also take place when a gas cloud with three times Earths mass will collide with Sagittarius A(super-massive black hole) located at the centre of the galaxy around 25,000 light years away. Solution to Global Warming: Re-freeze the Arctic As per a novel solution offered by an American scientist David Keith to tackle global warming, we could refreeze the Arctic by injecting reflective particles into the atmosphere with the help of a few modified jets. These particles would reduce the amount of sunlight reaching the Earth, engineering a regional effect that could bring ice back to the Arctic. As per him, slashing the penetration of sunlight by just 0.5% could be possible to restore the seaice around the North Pole to pre-industrial era levels. The costing of the operation would be around $8 billion a year. Currently the amount of ice in the Arctic Ocean has melted to an all time low in September, 2012, with the total area covered now half of what it was in the 1980s. India successfully test-fires Agni-I ballistic missile

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The Strategic Force Command of the Indian Army conducted a successful practice trial of indigenously developed nuclear capable Agni-I ballistic missile with a strike range of 700 km from a test range off Odisha coast. Agni-I is developed by DRDO in collaboration with Defence Research Development Laboratory and Research Centre Imarat and integrated by Bharat Dynamics Limited, Hyderabad. It is a single-stage missile powered by solid propellants with specialized navigation system providing it high degree of accuracy and precision. It is capable of carrying warheads of up to 1000 kg. Longest extraterrestrial River discovered on Saturns moon Titan Images from NASAs Cassini mission have revealed the existence of the longest extraterrestrial river system ever on Saturns moon Titan and it looks like a small version of Nile River on Earth. The river valley on Titan is more than 400 kilometres which flows into Kraken Mare, a sea that is, in terms of size, between the Caspian Sea and the Mediterranean Sea on Earth. Titan possesses vast seas and it is only other body in the solar system, apart from Earth, to possess a cycle of liquids on its surface. But it has a frigid atmosphere which doesnt allow liquid water to flow. It is for this reason the liquids on Titan are composed of hydrocarbons such as methane and ethane. DRDO develops depth detector Tarangini Scientists from the Naval Physical and Oceanographic Laboratory (NPOL), a Defence Research and Development Organization (DRDO) Lab, have developed a device named Tarangini which can fathom underwater depth and can also measure the hardness of the bottom surface. Application: Tarangini can be a handy tool to rescuers as well as paramilitary forces who come across unfamiliar water bodies. ARTS,LITERATURE AND CULTURAL Jeet Thayil among 24 selected for Sahitya Akademi Awards Booker-nominated Jeet Thayil and Bengali novelist Subrata Mukhopadhyaya were among the 24 authors selected for this years Sahitya Akademi Awards, which was dominated by poets.
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Twelve of the 24 awards went to works of poets, which included K Sachitandandan (Malayalam Marannu Vacha Vazhikal), late Bal Krishna Bhaura (Dogri TimTim Karde Tare) and Makhan Lal Kanwal (Kashmiri Yath Aangnaz Manz). Thayil, whose novel Narcopolis was shortlisted for Booker Prize, was selected for his poetry collection These Errors are Correct in English category. The Akademi said 12 books of poetry, six short story collections, four novels and one each of autobiography and criticism were selected for the awards this year, two of them posthumously. The awards were given to books first published between January 2008 and December 2010. The award carries Rs one lakh cash, engraved copper plaque and a shawl. About Sahitya Akademi Award The award was constituted in 1954 to honor outstanding works in the sphere of literature by Sahitya Akademi, the National Academy of Letters in India. The award is conferred for the works done in 24 major languages of India including English. Among the poets, other winners are Guneswar Musahary (Bodo Boro Khonthai), Chandrakant Devtale (Hindi Pathar Fenk Raha Hoon), H.S. Shivaprakash (Kannada Mabbina Haage Kabniveyassi), Kashinath Shamba Lolienkar (Konkani Kavyasutra) and Darsan Buttar (Punjabi Maha Kambani). In Gujarati, Chandrakant Topiwalas critical study Gujarati Sakshibhasya was selected for the award. Life of Pi receives National Tourism Awards Recently released feature film Life of Pi, directed by Ang Lee based on Yann Martel book titled the same, has been given two National Tourism Awards by the Ministry of Tourism, Government of India recognizing the impact it has had in promoting India as a tourism destination, especially Puducherry and Munnar (Kerala). These Awards would be given to Mr. Ang Lee, Director of the film Life of Pi and Mr. Yann Martel. The award has been given to encourage more and more Film producers from abroad to shoot their films in India.

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