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Major News and Events of 05 December 2014

What Happened on 05 December 2014

HDFC Bank Refuses to Go into Joint Venture for Setting Payment Bank

Managing Director of HDFC Bank said that his Bank has no future plans of going into any sort of alliance or partnership with other entities for proposed payment banks because their bank is a ‘full bank’ in themselves. Therefore, HDFC Bank becomes the first bank in the Indian banking sector that rejected joint venture partnership with any other entity in setting up payment bank, proposed by RBI a few days back.

Axis Bank Raises Whooping Rs 5,705 crore through Infra Bond Sales

Third largest private sector lender in India, Axis Bank, raised Rs 5,705 crore through sales of infrastructure bonds. The redeemable unsecured Non Convertible Debentures of 10 years were priced 8.85 per cent per year. The yields are paid on an annual basis. ICRA as well as CRISIL have given AAA rating to these Non Convertible Debentures. Axis Bank wants to raise this money with the sole intention of garnering resources to finance affordable housing and infrastructure sector in India.

RBI Allows NRIs/PIOs Purchase Stocks under Portfolio Investment Scheme; Selan Exploration Technology Stock Zoom

RBI issued a notification allowing Non-Resident Indians/Persons of Indian Origin to invest up to 24 per cent of paid-up capital in Selan Exploration Technology. After this recent move stock of the oil exploring company hit Rs. 424, an increase of 12 per cent, yesterday. Till 11.30am today the stock hit a high of Rs. 430 per stock and the traded volume was more than 390,000 shares.

World Cup 2015 Shocker - Zaheer Khan, Harbhajan Singh, Yuvraj Singh, Gautam Gambhir and Virender Sehwag Left Out

Thirty-member probable list for World Cup 2015 has been announced and the shocker is some of the most popular names in Indian cricket - Zaheer Khan, Harbhajan Singh, Yuvraj Singh, Gautam Gambhir, and Virender Sehwag – are missing. All of them were members of winning team of World Cup 2011. 4 members of World Cup 2011 who secured their place in the 30 probables list include Virat Kohli, Suresh Raina, Ravichandran Ashwin, and MS Dhoni.

Modi's Disinvestment Plan Kicks Off with SAIL

Narendra Modi government started to offload its stake in PSUs today by disinvesting 5 per cent stake in Steel Authority of India Ltd. Floor price per stock of SAIL was fixed at Rs 83 by the Government. Till 12:15 pm, 42 per cent subscription of SAIL’s Offer For Sale is reported by the stock exchanges. Most of bids till now are placed around Rs. 83.4. Through 5 per cent disinvestment of SAIL, government expects to raise Rs. 1,700 crore. Three major PSUs to go under the hammer in January 2015 are ONGC, Coal India, and NHPC.

India-Bangladesh Land Swap Deal Update

Prospects of India-Bangladesh Land Swap deal brightened with West Bengal CM making a U-turn and giving a go ahead to long pending boundary agreement with friendly neighbour - Bangladesh. While addressing a rally in Dinhata, a place situated in West Bengal near Bangladesh border, Ms Banerjee said that she hopes the long pending problem is going to be solved soon. However, two political parties in Assam - Asom Gana Parishad and All Assam Students’ Union protested this central government move and also staged separate protest demonstrations in Guwahati.


Reunion of Former Janata Dal Mates

'Janata Parivar', the political parties that split from the erstwhile Janata Dal, started to regroup to remain politically relevant. The six separate political entities - Samajwadi Janata Party, Indian National Lok Dal, Janata Dal (United), Rashtriya Janata Dal, Janata Dal (Secular), and Samajwadi Party -  are contemplating the idea of becoming a single party again. To that end, they will hold a 'sitting protest' programme on December 22 to protest against Union Government for failing to address the problems of unemployment, farmers' distress, and most importantly to bring back black money from abroad.

Parliament Impasse Continues on Sadhvi Niranjan Jyoti Hate Speech Issue

Prime Minister Narendra Modi tried to persuade opposition in Lok Sabha to let Lok Sabha function by not only condemning  MoS Sadhvi Niranjan Jyoti’s words made in the hate speech but also asking the opposition parties to accept the newly inducted minister’s apology considering she is new to parliament. However, opposition was in no mood to budge. They wore black band in protest and Rahul Gandhi led a protest outside the parliament condemning government’s move of not sacking Niranjan.

Goldman Sachs Upbeat about India

A report published by Goldman Sachs shows that the company expects India to overtake growth rate of China in the coming two years and become the faster growing emerging economy during the time period from 2016 to 2018. The company also believes that a new growth cycle is starting for Indian economy because of three main factors – improving structural reforms, reduced commodity prices across the globe, and reduced macroeconomic imbalances. By 2015-end, Goldman Sachs expects NSE Nifty to reach 9,500 points, a similar level predicted by another brokerage firm Macquarie (below 9960 points).

8 Dead in Army Camp Attacked by Militants

Eight people including 3 militants and 5 security personnel (3 Army Jawans and 2 Policemen) died during a gun fight when terrorists attacked Indian Army camp located in Baramulla district’s Uri of Jammu and Kashmir. The militants attacked Uri Tehsil’s Mohra Army camp at early morning (3.10am). The gunfight came to an end at around 11am today.

FAQs and Answers on Indian History and Geography
Which Indian state is the largest producer of bauxite?The state of Odisha is the largest producer of bauxite in India. India has abundant resources of bauxite and serves as a raw material in the production of aluminium. As per the report of the Ministry of Mines, India stood at the 7th position in… Read More...
Which Indian city is famously known as the "Manchester City of India"?The city of Ahmedabad in the Gujarat state is famously known as the "Manchester City of India". This name was given to this city by a popular textile center in the Manchester of Great Britain, adhering to the striking similarities of Ahmedabad's prospering cotton textile… Read More...
Which Indian state is the largest producer of coffee?Karnataka state is the largest producer of coffee in India. The state contributed about 70% of the total production of coffee in India during 2016-17 with 2.33 lakh MT coffee production. The main variety of coffee grown in Karnataka is Robusta, but the state also… Read More...

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