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Major News and Events of 12 December 2015

What Happened on 12 December 2015

RBI expecting 0.25 per cent Rate Hike by US Fed

Governor of Reserve Bank of India, Raghuram Rajan, has said that the apex bank is expecting the US Fed to hike its near-zero short-term interest rate next week by anywhere from 0.01 per cent to 0.25 per cent. Rajan said that around $352 billion has been built up as foreign exchange reserve, which has the potential of cushioning the economy from volatility the market is expected to experience due to panic withdrawal of dollars from the market by the overseas investors, if US Federal reserve goes for a likely rate hike. US Fed’s policy meeting will take place on December 15 and 16.

India-Japan sign 4 Bilateral Agreements including Bullet Train and Nuclear Energy Deal

In Delhi’s Hyderabad House today, India and Japan in the presence of Indian PM Narendra Modi and touring Japanese PM Shinzo Abe signed 4 bilateral agreements that include Rs. 98,000 crore worth first bullet train network in India, civil nuclear energy cooperation for commercial purpose, and defence equipment and technology transfer. However, ex-CPI (M) GS Prakash Karat led a protest against Indo-Japan civil nuclear energy cooperation as the deal was signed. PM Modi thanked Japan for the pledged $12 billion package as well as technical assistance on easy terms for materializing bullet train, which “will revolutionise Indian Railways”. Modi also thanked Abe for supporting India’s for Asia-Pacific Economic Cooperation (APEC) membership.  

Indo-US Defence Ties deepen as Defence Minister Parrikar concludes his US Visit

Union Defence Minister Manohar Parrikar concluded his 4-day US visit with both the countries identifying 17 new areas of cooperation under the flagship DTTI (Defence Technology and Trade Initiative) scheme for enhancing bilateral strategic partnership, especially in the high technology domain. Manohar Parrikar had a 1 and half hour closed door discussion with the US Defence Minister Ashton Carter, where both reviewed the increasing bilateral ties and cooperation between the two strategic partners. Both India and USA agreed that progress has been made in many DTTI projects including Next Generation Protective Ensemble (NGPE) for soldiers, Mobile Electric Hybrid Power Sources (MEHPS), “roll-on, roll-off” mission modules for C-130J aircraft, Raven mini Unmanned Aerial Vehicles (UAVs), and many more. Joint statement says important regional security issues and the threat posed by ISIS, Al-Qaeda along with its affiliates, Lashkar-e-Taiba, Jaish-e-Mohammad, Haqqani Network, Dawood, and others have been discussed.

Climate Deal Final Draft Ready but awaits Final Nod without Objection during Ministerial Meeting

Tentative Universal Climate Rescue draft has been reached after 16 hours of grueling negotiations. Draft is now in the process of translation to 6 official languages of the UN and will be presented to the ministers during a meeting at 10.30 GMT. Time Magazine has said India has emerged as “key player” in the climate talk. With US Secretary of State John Kerry stressing on resolving “very difficult” issues, Indian Environment Minister Prakash Javadekar accused developed countries of inflexibility and warned that success can’t be guaranteed. Draft deal is yet to be finalized as it will be adopted only when no objection is raised during the ministerial meeting.

India's Campaign at Dubai BWF World Super Series ends with the loss of Saina and Srikanth

Ace Indian woman shuttler Saina Nehwal lost to Chinese Taipei’s Tai Tzu Ying in a 3 game battle at Dubai BWF World Super Series Finals. Though Saina started it well and won the first game, she lost the momentum and lost the match 21-16, 16-21, 14-21 in just 51 minutes. In the men’s singles section, 22-year-old Kidambi Srikanth of India lost to China’s Chou Tien Chen in straight sets 17-21, 13-21. Though World Champion Carolina Marin from Spain lost to Saina in Group A match earlier, she managed to enter semi final because of a better game win count.

3 Convicts in Kolkata Park Street Rape Case Sentenced to 10 years Jail

The City Sessions Court has sentenced the three convicts involved in the Park Street gang rape case to ten years rigorous imprisonment. Suzette Jordan, who was sexually assaulted in a moving car in 2012 died due to Meningitis in March 2015. City Sessions Court pronounced Sumit Bajaj, Naser Khan, and Ruman Khan guilty and sentenced them to 10 years of rigorous imprisonment and fine of Rs. 1 lakh each. Two other accused, including the main culprit Kader Khan, are still absconding. On the night of February 5, 2012, Suzette was gang raped by 5 men while returning back home from Kolkata’s night club in the posh Park Street area. Though initially West Bengal CM Mamata Banerjee called it a fabricated case, she welcomed the verdict.

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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