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Major News and Events of 23 October 2014

What Happened on 23 October 2014


Sukhoi-30 Aircrafts Grounded Temporarily

After  the recent crash of Sukhoi-30 aircraft, Indian Air Force has grounded the entire fleet of Sukhoi-30 aircraft for thoroughly checking the technical glitches present. Only after the review they will again be on air. It needs special mention that the entire fleet of this aircraft constitues 1/3rd of the total fighter fleet of Indian Airforce.

India Becomes Tech-Savvy: Report Shows

Indians have become tech savvy for sure and the number is growing at an accelerated rate. In a recent global survey on gadget use in different countries, India emerged as the country having highest number of owners having smartphones. 95 per cent of the tech-savvy Indians regarded smartphones as ‘critically important’ in their lives. Moreover, India ranks 2nd in the list of Google Glass owners.

Sarita Devi Suspended by AIBA

Laishram Sarita Devi, the boxer who refused to accept bronze medal due to controversial judgement in 57-60 kg category, has been provisionally suspended by AIBA. Along with Sarita, AIBA has also suspended all her coaches (Sagar Mal Dhayal, Blas Iglesias Fernandez, and Messrs Gurbakhsh Singh Sandhu) along with Adille J. Sumariwalla, the chef-de-mission in Asian Games.

Shiv Sena is Divided on Joining Government in Maharashtra

There is a sharp division within Shiv Sena on the question of joining Maharashtra government. In fact, some hardliners within SS are also against approaching BJP leadership with its unconditional support. They feel that Sena should play the role of a vigilante opposition in assembly and at the same time rebuild SS from the grassroot level throughout Maharashtra.

Race to CM's Post of Maharashtra - Gadkari Vs Fadnavis

After on going struggle between BJP and Shiv Sena in the quest of forming government in Maharashtra, it is now time within BJP to lobby for the coveted post of Chief Minister between former President of BJP as well as current Union Minister Nitin Gadkari and State BJP President Devendra Fadnavis. Gadkari’s recent statement also indicates that he is not averse to the post of Chief Minister, significantly different from his earlier comments on not being in the race. Most importantly, Vinod Tawde along with 40 MLAs from Vidarbha region have rallied behind Gadkari.

PM stands beside Soldiers in Siachen and Srinagar Flood Victims

Indian PM Narendra Modi, in an effort to boost morale of the soldiers posted in Siachen, visited them on Diwali. Even before heading for Siachen Glacier, he announced this through his Twitter account. To boost morale of the Indian soldiers he paid tribute to them by saying that these soldiers serve our country inspite of the bitter cold and altitude. PM also visited Srinagar’s flood affected people after meeting after his visit to Siachen.  

Samvat 2070 comes to an End; Gold Performed Poorly but Sensex Gained

Vikram Samvat year 2070 is coming to an end on October 22, 2014, the day before Diwali. On October 23, 2014, Samvat year 2071 will start with Diwali Muhurat trading day, considered as important by stock brokers and  investors in India. In Samvat 2070, Gold performed poorly in comparison to previous year, 8.8 per cent less. Sensex gained significantly, best performance in the last 5 years.  

DLF in a Mutual Fund Soup

DLF was barred from dealing in securities by the Securities and Exchange Board of India (SEBI) on October 13 for 3 years. Citing this order mutual funds have declined to refund the invested money by DLF through different mutual fund schemes. The monetary sum declined by the MFs for refund amounts to Rs 2,000 crore. Asset Managers of mutual funds can refund the real estate company only after getting 'no-objection' notice from the regulatory body.

Private Companies can Now Mine in India after Ordinance

Union government has promulgated Coal Mines (Special Provisions) Ordinance to pave way for commercial mining in India. This ordinance will open door for foreign companies in getting coal mining rights in India. Companies such as BHP Billiton and Rio Tinto will be able to bid after this ordinance for getting mining rights. Accordingly provisions have been added to Mines and Minerals (Development and Regulation) Act, 1957 and Coal Mines (Nationalisation) Act, 1973.

Wipro Disappoints Dalal Street

Though the 3rd largest IT and ITES company, Wipro, reported a net consolidated profit of Rs 2,084 crore and net sales of Rs 11,680 crore (both rose at the rate of 8 per cent compared to corresponding period last year) in 3rd quarter, the results were not as per expectations of the Dalal Street. Surprisingly, Wipro posted revenue loss in some key verticals and geographic locations such as global media and telecom, financial solutions, and Europe.

Sarita Devi to Miss World Boxing Championship; IOA Asked by Sports Minister to Overturn Suspension

AIBA’s suspension of Sarita Devi will restrict her along with her three coaches and Chef de Mission of India during 2014 Asian Games from participating in World Boxing Championship, to be held in November 2014 at South Korea’s Jeju. However, Boxing India believes that she will be back after the upcoming international event. After getting news of Sarita Devi’s suspension, Sarbananda Sonowal (Union Sports Minister) has asked IOA to take necessary steps for overturning the suspension order.

WICB Seeks Meeting with BCCI; ICC Restrains from Intervening

International Cricket Council has formally stated that they have no power in intervening in the ongoing tussle between West Indies Cricket Board (WICB) and Board of Control for Cricket in India (BCCI). The dispute between the cricket boards of two countries started when some players of West Indies didn’t play during Indian tour on the ground of internal pay dispute. After BCCI’s threat of legal action against WICB, the latter has moved one step forward in resolving the issue through meetings.

Indian Hockey Coach Withdraws Resignation After Promise of Addressing his Concerns through New Contract by SAI

Terry Walsh, the 60 year old Indian Hockey Coach, has taken back his resignation letter after SAI officials as well as Sports Ministry convinced him to do so by promising new contract. Sources reveal that in the new contract all the concerns of Terry will be adequately addressed upon. Union Sports Minister also expressed his relief through his Twitter post after the Australian withdrew back his resignation. The new contract will be offered to him before November 19, the day Walsh’s existing contract expires.

Indian Airforce Issues Security Alerts on Xiaomi Smartphones

The Chinese technology giant Xiaomi has come under scanner in India as it is believed by the Indian Air Force that the company is using its gadgets in stealing and snooping of user data of Indians. Sources reveal report that IAF has issued alerts to all its Squadrons as well as Commands to refrain from using smartphones of Xiaomi. Earlier, Indian Army was also believed to issue a similar instruction to its soldiers and family members.  

E-Retailers will Not Confront any New Regulation from Indian Government, Report Reveals

New report published in a leading news portal says that the government is not contemplating any idea of imposing regulations on online retailers until and unless interests of consumers are compromised. After Flipkart’s Big Billion Day ruckus, all the existing renowned e-retailers in India such as Myntra, Snapdeal, Flipkart, and Amazon have become cautious in giving discount. During Diwali all the sites gave significant discount but the extent was not as eye-popping as Flipkart’s Big Billion Day offer.