Major News and Events of 28 October 2014
What Happened on 28 October 2014
Gender Gap Report of World Economic Forum – India performs Poorly
David Cameron on Kashmir
Air India Blames Regulation Change
Kingfisher Airlines Identified as Willful Defaulter – Now by UCO Bank
6 Recommended Chiefs of PSU Banks Scrapped
India's Snapdeal gets a New Investor
Black Money List Partially Revealed by Government
Dilatory Tactics of Union Government Frowned upon by Supreme Court
Xiaomi will Relocate Server from China to India in the Year 2015
Nokia Reveals Rs 1,649 Handset
Issue of Sarita Devi Suspension to be taken up by Boxing India on Insistence of Sports Ministry
BJP is all set to stake claim of the new government in Maharashtra today. The BJP MLAs are expected to be led by state President of the party, Devendra Fadnavis, to the Maharashtra Governor after 6.30pm. This is when they will stake claim of forming the government. After lots of speculations, calculations, and bargaining, Fadnavis has emerged as the leading contender for the post of CM. BJP MLAs unanimously chose Fadnavis as their leader before meeting the governor. CM will be sworn in at 4pm on October 31.
Per Gender Gap Report of World Economic Forum, India slipped from 2013’s 101st rank to 114. It should be noted that the list consists of 142 countries. The report is prepared after considering the parameters such as health, survival, education, and economic participation of people belonging to different genders. India is among the worst performing twenty countries, when indicators such as sex ratio at birth, literacy rate, participation of labour force, and income earned are taken into consideration.
Prime Minister of Britain and Tory Party leader, David Cameron, has regarded ‘Kashmir’ a bilateral issue rather than an international one. During an interview with a reputed news channel of India, Cameron said that Kashmir issue needs to be solved by the contending countries. He feels that no other country should participate in the debate except India and Pakistan. He also invited Indian PM Narendra Modi to his country.
A few days back 100 Air India pilots were found not having valid simulator check. Every pilot needs to go through simulator checks after every six months for keeping license valid. When AI officials were asked about this, they said that regulation change caused the delay. In a similar simulator check violation, DGCA had taken strong action against Jet Airways. Now, it needs to be seen what actions are taken against the authorities of government airline.
After United Bank of India, it’s UCO Bank’s turn to identify Kingfisher Airlines (KA) as willful defaulter. However, it is still in the identification process of the bank. They have not made formal declaration yet. KA still needs to pay Rs. 300 crores to the bank. RBI guidelines show that a company can be termed as ‘willful defaulter’ by a lending bank when the borrowing company has repayment capacity but willfully chooses not to repay.
Narendra Modi government has scrapped the empanelled chiefs for 6 PSU Banks - Vijay Bank, United Bank, Oriental Bank of Commerce, Indian Overseas Bank, Canara Bank, and Bank of Baroda. Recommendations of the Chairman and Managing Directors were done by erstwhile UPA government. Irregularities were found in the selection process by a high level panel, which led to the scrapping of CMDs of six public sector banks.
Japan’s SoftBank Corp has become the biggest investor of Snapdeal, the New Delhi based eCommerce portal. To gain from the rapidly expanding online ecommerce market space of India, SoftBank Corp has bought stake to the extent of $627 million. Besides SoftBank, the other major stakeholders of Snapdeal include eBay, Temasek, Intel Capital and Saama Capital, Nexus Venture Partners, IndoUS Venture Partners, Kalaari Capital, etc.
BJP government has at last revealed names of certain individuals who stashed their money outside India, partially fulfilling their pre-election promise. However, revelation of just 7 names (out of HSBC list’s 600 names) was termed by the opposition as selective revelation with the motive of playing games. The important names revealed include Pankaj Chimanlal Lodhiya (renowned bullion trader), Pradip Burman of Dabur Group, and five directors of Timblo Pvt Ltd. - Radha Timblo, Mallika Timblo, Rohan Timblo, Chetan Timblo, and Anna Timblo.
President of India has already given consent for exploring the option of forming the next government in Delhi, which is currently under President’s Rule. Supreme Court has rapped up Union government for going slow on the issue. The apex court has said that the government has adopted dilatory tactics on asking BJP to form the government in Delhi, when the concerned party has already being asked by Lt. Governor Najeeb Jung to form government.
Science and Technology
After multiple notifications by Indian Army and Air Force to its personnel for not using Xiaomi smartphones, the Chinese tech giant has taken the threat perception seriously and have decided to relocate their servers from China to India by the year 2015. Xiaomi has taken the decision because the data theft allegations are hampering its prospects of rapid expansion plans in India.
Science and Technology
The new device from Microsoft has FM Radio along with built-in video player. The handset is named Nokia 130 and will be available to the customers at a sub-Rs. 2000 price, Rs. 1649 to be precise. With a single charge customers can listen to music for a stretch of 46 hours. First time buyers are the target audience of Nokia 130. Some important specifications are talk time support of 13 hours, color display size of 1.8 inch, storage capacity of 6k songs, and many more.
The options of revoking provisional suspension on woman ace boxer Sarita Devi will be explored by Boxing India, after specific instructions from Sports Ministry. The concerned ministry has also asked BI to help the boxer and three coaches in replying to AIBA. Inspite of all the effort made, Sarita Devi will not be able to participate in World Championships, which is going to start on November 19.