Major News and Events of 18 July 2014
What Happened on 18 July 2014
United Bank to 'Name and Shame' its defaulters
DataWind and BSNL combo offer for tablet and free internet
Saina Nehwal pulled out of Commonwealth games due to fitness issues
Rs. 35,000 crore spent by central government under SC/ST sub-plan 2013-14
BJP legislator from Delhi sends legal notice to Kejriwal
RBI issues draft guidelines on payments and small banks
Eleven people have been acquitted by the Supreme Court of India, who were earlier convicted and sent to jail for a term of 10 to 20 years in 1993 Surat twin blast cases. One girl was killed and 31 others were injured in the twin blasts. The order was passed by the bench headed by Justice T. S. Thakur on the appeals filed by the accused and the government of Gujarat, which challenged the verdict of the TADA court.
In an effort to recover the dues, the United Bank of India will start a process to ‘name and shame’ its wilful defaulters. It will publish the photographs of the defaulters along with other related details in the newspapers. Deepak Narang, executive director of the bank said, “Since the Supreme Court has recently permitted banks to name and shame wilful defaulters. Now the bank would initiate process”. The bank has recently declared Vijay Mallya and other three directors of Kingfisher Airlines as wilful defaulters.
Science and Technology
DataWind has joined hands with Bharat Sanchar Nigam Ltd. (BSNL) and is offering free unlimited internet service to the buyers of its tablets, UbiSlate 7Cz and UbiSlate3G7. To increase its market share, the company has extended its partnership with BSNL to offer internet access on its tablets. DataWind and UniverCell have also joined hands, so that the tablets for the company should be easily made available in Southern India. More than 500 retail outlets of UniverCell will be selling the products for the company.
Women’s single badminton champion of Commonwealth games, Saina Nehwal has been pulled out of the Commonwealth Games, scheduled to be held in Glasgow, due to lack of fitness and her inability to recover from the blisters on her feet. Saina suffered from a groin injury during her victory series in the Australian Open. Saina said over the issue, “I just have a few issues like not being fit and during Australia, I got the blisters and got injured. It took time for me to recover and so I am withdrawing from the CWG”.
25 ministries and departments of the government have spent Rs. 35,800.60 crore under the SC/ST sub-plan in the last fiscal year. This was informed by the Planning Minister Rao Inderjit Singh in a written reply to the Parliament. As per Singh, there are certain schemes which are not possible under similar programmes such as village electrification, bifurcation of allocation made on the basis of caste and gender and benefit to the poor households of SC/ST families. He also said that there are few ministries that have not been allocated any funds under the sub-plan as they come under the exempted class as made up by the Planning Commission.
R.P. Singh, former Delhi CM and a BJP legislator, has sent a legal notice to Aam Aadmi Party chief Arvind Kejriwal asking him to pay a compensation of Rs. 1 crore for hampering BJP’s image as he has made “baseless” allegations of horse-trading against the party. Singh said, "I had no other option but to send Kejriwal a legal notice for defamation since he has levelled baseless charges against the BJP of indulging in horse-trading to form the government in Delhi". He has also asked Kejriwal to issue a public apology within seven days for the false allegations he has made.
The Reserve Bank of India has issued draft guidelines for licencing of the small banks and payments banks. Views and comments are sought by the Central Bank regarding the draft guidelines from the general public and interested parties. Non-banking finance companies (NBFCs), mobile telephone companies, pre-paid instrument issuers (PPIs), real sector cooperatives are a few of the entities which are eligible for setting up a payment bank. Small bank can be set up by entities such as micro finance institutions, NBFCs and individuals with experience of ten years or more in banking finance.