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Major News and Events of 13 August 2016

What Happened on 13 August 2016


PM Modi says PoK belongs to India, No Compromise on Kashmir

Prime Minister Narendra Modi has said during an all-party meeting that his government is committed to find a long term solution to the ongoing unrest going on in Kashmir after the killing of militant Hizbul commander Burhan Wani. The meeting was called after UN Human Rights Council (UNHRC) sent a letter to foreign minister Sushma Swaraj, asking her to explore possibility of sending a UN team for investigating human rights violation by Indian armed forces in Jammu and Kashmir. The request was unanimously rejected in the meeting. However, CPM’s Rajya Sabha member and CPIM General Secretary Sitaram Yechury vouched for sending a team consisting of members from India’s own human rights bodies. Meanwhile, PM Modi said that PoK (Pakistan Occupied Kashmir) belongs to India and stressed on bringing atrocities in Balochistan to global audience’s notice.

Chinese Foreign Minister meets PM Modi, Sushma Today

Chinese Foreign Minister Wang Yi today met both Prime Minister Narendra Modi and his Indian counterpart External Affairs Minister Sushma Swaraj in a “neighbourly engagement”. External Affairs Ministry Spokesman Vikas Swarup said through his Twitter handle that the Chinese FM discussed mutually important issues of both the neighbouring countries with Sushma. Yesterday China’s state-run Xinhua news agency posted a report hinting at its softening stance on India’s NSG bid. Wand also met Goa CM Laxmikant Parsekar for reviewing logistics and security arrangements for proposed visit of Chinese President Xi Jinping in October.

SBI Net Profit drops by 32 Per Cent, Stocks Rise by over 7 Per Cent

State bank of India’s net profit dropped by 32 per cent (from Rs. 3,692 crore last year to Rs. 2,521 crore) mainly due to rising Non Performing Assets (NPAs) or bad loans. Reports say, gross NPA of SBI crossed the one lakh crore mark (Rs 1,01,541 crore) from the preceding quarter. SBI chairman Arundhati Bhattacharya has said that the rate of credit creation growth in financial year 2017 will be 12 per cent and the NPA creation growth will taper off. However, SBI stocks rallied and increased by 7.1 per cent, owing to less than expected growth in bad loans.

July Merchandise exports fall despite June industrial growth at 8-month High

Industrial growth in the month of June jumped to a 8-month high to 2.1 per cent, a significant increase over its may result of 1.1 per cent. Data released by Central Statistics Office (CSO) shows that the increased growth was posted due to robust production in mining and electricity verticals. During June, Index of Industrial production’s major component – manufacturing - increased by 0.9 per cent, which is higher than May’s figure of 0.6 per cent. However, slowing global economy has yet again led to contracted merchandise exports – by 6.8 per cent in June.

Indian Athletes shine bright after Gloomy start of Rio Olympics

After a dull start in Rio Olympics 2016, Indian athletes shone bright as tennis and boxing advances bring India back from the gloom. Indian boxer in the 75 kg category, Vikas Krishan, cruised in to the quarter finals as he defeated Sipal Onder of Turkey. In tennis mixed doubles, the Indian pair of Sania Mirza and Rohan Bopanna defeated Andy Murray and Heather Watson of Britain in straight sets (6-4 6-4) in 67 minutes to reach the semi finals.

Government figures show Productive Monsoon Session of Parliament

Figures shared by the government show that productivity of the Parliament’s monsoon session was extremely high. Reports say, Lok Sabha (lower house) worked for 110.84 per cent and Rajya Sabha (upper house) worked for 99.54 per cent of their scheduled time. While 15 bills were passed by the Lok Sabha out of the 15 introduced, rajya Sabha passed 14 bills including the long pending GST Bill.




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