1.

Kalmadi sacked, Malhotra named IOA acting president After his arrest on corruption charges, Suresh Kalmadi's 15-year tenure as the IOA president came to an abrupt end after he was sacked from the post and veteran sports administrator VK Malhotra was 'unanimously' named as the acting president. The swift action to end Kalmadi's reign as the supremo was taken by the IOA officials in a meeting chaired by Malhotra himself, citing clause 13B of the constitution, which empowers the vice-president to take interim charge in the absence of the president.

2. India to set up an autonomous n-regulatory authority The Government will introduce a bill in the next session of parliament to create an independent and autonomous nuclear regulatory authority. This was decided at a meeting convened by Prime Minister Manmohan Singh on the current status of the 9,000 MW Jaitapur nuclear project and the impact of Japan's Fukushima atomic tragedy on India's nuclear programme. The meeting also decided to use best available expertise to ensure the highest levels of safety. 3. Rare orchid spotted in Uttarakhand terai An endangered orchid valued for its medicinal properties has been discovered in the terai region of Uttarakhand after a gap of 11 years by a senior officer of the State Forest Department. A cluster of eulophia dabia (eulophia campestris) has been discovered by the Principal Chief Conservator of Forests (Wildlife) and Chief Wild Life Warden Srikant Chandola. However, the exact location where these orchids were found growing is being kept under wraps by the department because if known, the plants will be harvested within a couple of days by those interested in earning quick money by selling parts of the plant which are used for their medicinal use as a general tonic and for treating sexual disorders. The plant which is an orchid also used for its medicinal properties has been discovered growing in forests which can be categorised as typical Shivalik-type forest. 4. Rajendra Pawar new Nasscom Chairman The National Association of Software and Services Companies (Nasscom) announced Rajendra S. Pawar as the new Chairman of its Executive Council for 2011-12. He succeeded Harsh Manglik. Mr. Pawar has been a member of the Nasscom's Executive Council and is now the Chairman and Co-founder of NIIT Technologies. Nasscom also announced the appointment of N. Chandrasekaran, Tata Consultancy Services CEO and Managing Director, as Vice-Chairman of the Executive Council. As Chairman of the Executive Council, Mr. Pawar will lead and assist Nasscom in catalysing the growth of the Indian IT-BPO industry and enabling the fulfilment of its future goals and aspirations. 5. LG launches next generation 3D TV Korean consumer durables manufacturer LG Electronics launched its next generation 3D TV with FPR (film patterned retarder) technology, priced between Rs.94,990 and Rs.1.65 lakh and targeted to sell one lakh units by the end of this year. 6. Goldman downgrades RIL, Cairn Goldman Sachs downgraded Reliance Industries and Cairn India to neutral from buy, and raised its rating on Oil & Natural Gas Corp to buy from neutral. It is removing Reliance from its Asia Pacific Conviction list and downgrading the stock on concerns about lack of clarity on its sustainable growth drivers, implying limited scope for medium-term earnings surprise. It downgraded Cairn India as it believed there are more compelling risk-reward elsewhere in the sector. Goldman upgraded ONGC and added it to its Asia Pacific Conviction Buy list, based on stable to improving oil realizations, improving volume growth and attractive valuations. Page 1 of 2 27th April 2011

7. RBI slaps Rs 1.95 cr penalty on 19 banks,including SBI, ICICI The Reserve Bank imposed a fine of Rs 1.95 crore on 19 banks, including leading lenders like SBI, HDFC Bank, ICICI Bank and Citibank, for violating regulations concerning derivatives. The lenders failed to carry out due diligence with regard to suitability of products and sold derivative products to companies not having risk management policies. A fine of Rs 15 lakh was slapped on Axis Bank, Barclays, HDFC Bank, ICICI Bank, Kotak Mahindra and Yes Bank, Rs 10 lakh each was imposed on Citibank, BNP Paribas, SBI, Credit Agricole CIB, Development Credit Bank, ING Vysya Bank, Royal Bank of Scotland and Standard Chartered Bank. 8. Worlds first electronic specs to make bifocals history If youre one of the many who rely on bifocal lenses, you may soon get a new view of life this summer. US-based PixelOptics is planning to roll out the worlds first electronic eyeglasses, called emPower, that will make tedious bifocals history, reports the Daily Mail. People who wear bifocal glasses know all about the distorted view they get when looking downwards at the ground. They allow bifocal wearers to switch between different prescription settings for reading and more distant viewing. 9. Green LED TVs, computers a step closer to reality Scientists have developed a new method for manufacturing green-colored LEDs with greatly enhanced light output, which could likely lead to a new generation of high-performance, energy-efficient display devices. First discovered in the 1920s, LEDs light-emitting diodes, are semiconductors that convert electricity into light. The research team, led by Christian Wetzel, professor of physics at Rensselaer Polytechnic Institute, etched a nanoscale pattern at the interface between the LEDs sapphire base and the layer of gallium nitride (GaN) that gives the LED its green color. Overall, the new technique resulted in green LEDs with significant enhancements in light extraction, internal efficiency, and light output. The discovery has brought Wetzel a step closer to his goal of developing a high-performance, low-cost green LED. 10. Fewer players, shorter and faster matches: Hockey catches IPL fever With IPL setting the pace, hockey now is set to get a faster, truncated avatar, music on the field and cameras in locker rooms, plus a whole new title: International Super Series. In an attempt to popularise field hockey, the International Hockey Federation (FIH) is planning a format with nine-a-side teams and 30-minute matches, divided into two 15-minute halves. The first tournament in this format will be held in October in Perth, featuring hosts Australia, and India, Pakistan, Malaysia and New Zealand. The event is being organised on the sidelines of the Commonwealth Heads of Government Meeting.

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