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Major News and Events of 13 November 2014

What Happened on 13 November 2014


Fourth Game Moved towards a Draw at World Chess Championship

The 12 match game seems to be getting more interesting with progress of the tournament. The 4th game between India’s Viswanathan Anand and Norway’s Magnus Carlsen moved towards a draw, where the latter seems to have a pawn extra than the former after 42 moves.

Uber India Falls in Line with RBI Guidelines

In the recent past RBI had come down heavily on Uber hired cab service of India as it was not following the mandatory rule of 2-factor authentication while accepting credit card payments. However, it has now forged a partnership with Paytm for complying with the regulations of the apex bank. This news has been brought to public notice through an official blog post by Uber India.

Xiaomi is Reported to be Developing a Rs. 4K Handset

The Chinese mobile manufacturing giant is reported to be developing a Rs. 4000 smartphone, which will cost CNY 399 in China. It has not been named yet but rumor mills indicate that it is going to have RAM of 1GB, HD display of 720pixels, and most importantly LTE support. If source information are to be believed, the handset is going to have Leadcore chipset (LC1860) inside the handset.

Prime Minister of India Vouched for International Partnership against Terrorism

During East Asia Summit’s intervention in Myanmar capital, Narendra Modi reiterated that there is an urgent need to address the need of international partnership between countries for fighting against terrorism. However, he also observed that linking any particular religion with terrorism is also flawed. Indian Prime Minister also pressed on the fact that the entire world must come together to fight against terror acts for humanity’s sake. The close linkage between money laundering, smuggling of arms, and drug trafficking is also highlighted by Modi.

BJP is Against Considering any Conditional Support

Maharashtra BJP has said that their minority government will not accept any kind of conditional support. GVL Narasimha Rao, senior BJP leader has reiterated BJP’s stand that their government is determined to prove majority and Shiv Sena is welcome to give support but BJP will not consider any kind of conditional support, throwing the ball in Shiv Sena’s court.  

Rahul Gandhi takes Dig at Narendra Modi

While giving his speech at Jawaharal Nehru’s 125th birth anniversary Vice President of INC Rahul Gandhi criticised ‘Clean India Campaign’ to be nothing more than photo-op. He made scathed attack on Indian PM by saying that politics of hate is carried forward on one hand and photo-op in the name of cleaning roads is shown on the other. Senior leader of the party including INC President Sonia Gandhi, former PM Manmohan Singh, and ex-CM of Delhi as well as ex-Governor Sheila Dixit was also present during the programme.

FIIs Raise Stake but Valuation is Many Times Lower than Earlier Peaks

Foreign Institutional Investors have started buying more and more non-promoter stocks in BSE 500 companies currently, holding around 42 per cent of the concerned stocks. Statistics show that it has reached highest level in last ten years. However, in terms of valuation the level is still many times low, around 23.7 times in comparison to 2007’s December Quarter and 2009’s September Quarter.

October 2014 Witnesses Historic Low in CPI Inflation

Ministry of Statistics and Programme Implementation’s data shows that Consumer Price Index has come down from October 2013’s 12.93 per cent to 5.52 per cent in October 2014. Though Finance Ministry officials have enhanced pressure on the RBI governor to cut rates, sources indicate that the final call will be taken by the apex bank only in coming January.

Gold Demand in India Boosted by Wedding Season: WGC

World Gold Council has observed that demand for the yellow metal in India has increased to 225.1 tonnes (a rise of 39 per cent) during the period from July 2014 to September 2014 inspite of the fact that the demand fell in other parts of the world. This acceleration in India’s appetite for Gold is mainly due to the demands generated during wedding season.

Sterilisation Death Toll Rises to 11; Doctor Arrested

Mass sterilization surgeries done in Chhattisgarh has led to 11 deaths till now. Dr RK Gupta operated eighty three women in just 5 hours at Bilaspur’s Nemi Chand Jain hospital, thereby spending only one and half minute to perform each operation. Gupta accused administrative pressure on him to meet to sterilisation target as the main reason behind the imbroglio. He also said that the deaths were caused by the post operative medicine given to the patients as the surgeries went well.  

WTO Impasse Seems to Have Ended for Now

Commerce Minister Nirmala Sitharaman has reported that the contentious issues between United States and India over WTO pact have been resolved.  As per the minister’s statement, US has agreed to India’s stockpiling issue and the India’s proposal will be reviewed by General Council of WTO. It is one step ahead in passing Trade Facilitation Deal, which was stalled because of the unrelenting stand taken by the developed countries.  She also added that India will keep working on implementing development agenda of Doha and Bali package.

Can Political Negotiation help End Tussle Between DoT and Defence Services?

TRAI had earlier recommended that going for further auction without arranging adequate spectrum will be detrimental for the consumers as well as the industry. However, Telecom Commission has sent back the recommendation to TRAI for reconsideration. However, no formal recommendations have been made by DoT or department of telecommunications. Rahul Khullar, Chaiman of TRAI, has said that this is a tussle between DoT and Defence Services. It can only be solved through proper political intervention as it is impossible to be solved at bureaucratic level.