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Major News and Events of 11 October 2015

What Happened on 11 October 2015


India's CAD decreased to 1.3 Per Cent of GDP from 4.8 Per Cent Two Years Back

Union Finance Minister Arun Jaitley has said that Current Account Deficit (CAD) with respect to GDP has come down from 4.8 per cent two years back to 1.3 per cent in 2014-15. An official statement said rate of inflation has dipped from double digit two years back to just 3.7 per cent currently. While delivering speech at IMF and IMFC’s plenary session, Jaitley also said that India is trying to increase investment in infrastructure and irrigation along with efforts to rationalize subsidy. While expressing optimism over higher growth level, Jaitley stressed upon opening 185 million bank accounts as an effort of largest financial inclusion initiative globally. Indian Finance Minister also expressed concerns of implementation delay of IMF quota reform.

Science and Technology Minister inaugurates Medical Biotechnology Complex

Dr. Harsh Vardhan, Union minister for Science and Technology, inaugurated Centre for Cellular and Molecular Biology’s (CCMB) Medical Biotechnology Complex. While delivering speech after the inauguration, the minister said that scientists must concentrate on researches that try to find solutions for masses and that’s why must get research ideas from the perspective of general mass and not from laboratories. The minister also asked the scientific community to “introspect the work done” and then plan the future research for making breakthrough in field of medicine. Bandaru Dattatreya, Union minister for Labour and Employment, stressed on manufacturing medicines at affordable cost for making medicine available to the unpriveliedged.

Sania-Hingis lifts 8th Trophy this Season by Winning WTA China Open

The celebrated Indo-Swiss pair Sania Mirza and Martina Hingis, popularly known as SanTina, has won their 8th trophy of the season by winning the WTA China Open. The top seeded pair defeated the 6th seeded Chinese Taipei duo Yung-Jan Chan and Hao-Ching Chan in a three set encounter (6-7, 6-1, 10-8) that went on for 1 hour and 40 minutes. This was SanTina’s fourth consecutive win. The first set was won by the Taipei girls but the top seed Indo-Swiss pair bounced back quickly to win the second set 6-1. Sania-Hingis duo won the final set 10-8.

CBI raids Residence and Offices of Vijay Mallya in alleged Rs. 900 Crore Loan Default Case

CBI has conducted massive raids in the residence of liquor baron Vijay Mallya and several offices of the now defunct Kingfisher Airlines, located in Bangalore, Goa, Mumbai, and other places. Extensive search was conducted in connection to the alleged loan default case to the tune of Rs. 900 crore from IDBI Bank. Reports say that the action was initiated on the basis of the FIR filed against unknown officials of IDBI, CFO of Kingfisher Airlines A Raghunathan, and director of the airliner Vijay Mallya.  CBI is inspecting the criminal aspects of the loans that have been declared NPAs by multiple public sector banks.

President Pranab Mukherjee talks Business in Jordan

President Pranab Mukherjee reached Jordan yesterday, received a ceremonial welcome, and had lunch with King Abdullah. The two leaders discussed about entry of Jordanian products in Indian markets, joint fight against terrorism, joint project participation in fields of defence, medicine, IT, and fertilizers, and the need of increasing bilateral trade exchange to $5 billion in coming 5 years. While President Mukherjee assured Jordan King of extending $100 billion credit line to Jordan, both the leaders later inaugurated $860 million cost largest sulphuric acid plant of the world (jointly built by Indian Farmers Fertiliser Cooperative Limited and Jordanian Phosphate Mines Company) in Eshidiya. President Mukherjee called King Abdullah II a great humanitarian. Pranab Mukherjee’s next stopover will be Palestine. Though continued strife between Israel and Palestine has curtailed President Mukherjee’s plans of visiting historic places such as Jerusalem’s Al Aqsa mosque, he has stayed firm on visiting Al Quds University.

Police finds Plot of Right Wing Groups in Dadri-rerun in Manipur

After heinous Dadri lynching in UP on the rumour of cow slaughter, similar incident took place in Manipur where two persons were rescued by the police from a mob. While several vehicles were torched by the mob, 18 persons have been detained. After autopsy of the cow, it was found that the animal died from bovine disease and not killed as rumoured. Reports say that a Hindu youth brought the carcass for skinning to the Muslim youths and then spread the rumor of bovine killing. A top police officer said that they have found prima facie evidence against multiple Hindu right wing organizations that incited violence on the rumour of cow slaughter.