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Major News and Events of 13 October 2012

What Happened on 13 October 2012

Khurshid presents pictures, documents to prove camps were held

Law Minister Salman Khurshid as an evidence that camps for the disabled were held presented pictures and documents and refuted allegations of forgery and embezzlement of funds against an NGO with which he and his wife are linked. He further stated that he intended to file a defamation suit against the news channel, Aaj Tak TV which organized the sting operation. The pictures which he presented included some prominent personalities. As per the news channel Rs 71.50 lakhs were granted to Khurshid's NGO, Zakir Hussain Memorial Trust for tricycle and hearing aids distribution to the disabled in 17 districts of Uttar Pradesh. Khurshid is the president and his wife is the project director of the trust.India Against Corruption activists have put allegation on Khurshid and his wife of not organizing health camps in 10 of the 17 districts.

Pakistani activist honored by Haryana Khap

A community Khap (community council) in Haryana on Sunday honored Pakistani human rights activist Ansar Burney for extending help in the release of Indian sailors held captive by Somali pirates. Gulia Khap, one of Haryana's prominent khaps in a unique initiative which is first of its kind, collaborated with an NGO 'Sailor Relief Fund' (SRF) to honor Burney at Laadpur village in Jhajjar district, about 30 km from Delhi. The award was for "significant contribution in social sector at global level". Six Indian families had their kin released from the pirates in 2011 and one of the captured sailors, Ravinder Gulia, belonged to the Gulia community.

Reliance introduces investment plan for risk profile

Reliance Capital Asset Management launched a new systematic investment plan to suit an individual's risk profile. This aims at targeting the middle-income investors.Titled Portfolio SIP, a mutual fund scheme after analyzing the customer's risk profile will invest accordingly in the available instruments.Retail customers can invest systematically across equity, debt and gold asset classes. The exit load (commission charged on leaving a fund) will depend on the scheme so the investors will not have to endure any post-withdrawal burden. The fund managers will help the investors to select the right instruments after close scrutiny of the risk profile.The scheme will be operational in next three months.

Assam cop into Asia Book of Records for maximum punches in a minute

Guinness World Record holder, Assam police officer Abhijit Baruah has got another record to his name when he hit the maximum number of punches in a minute on a boxing pad.He had the Guinness record of runningthe longest distance of 156.2 km in just 24 hours. This time he hit 329 punches on a boxing pad at an event held in Jorhat stadium which was recorded as the maximum hits on a boxing pad in a minute by the Asia Book of Records as well as the India Book of Records. The 23 year old aims to enter the Guinness World of Records in this category

'Aashiqui 2' goes on floor

Actress Shraddha Kapoor, the female lead in "Aashiqui 2", is eagerly awaiting the shooting of the film to start.The schedule of "'Aashiqui 2' starts from Monday.Filmmaker Mohit Suri has roped in Shraddha with Aditya Roy Kapoor in the film.Suri has earlier specified that the musical is not a sequel to the 1990-hit romantic saga "Aashiqui" which had Rahul Roy and model Anu Agarwal in the lead role."Aashiqui 2" is slated for release on Valentine's Day in February next year.

Khurshid's resignation demanded by Kejriwal, allegations denied by Khurshid's wife

Arvind Kejriwal has on October 13, 2012 announced that he will lead a sustained agitation for the arrest and resignation of Salman Khurshid, the present Union Law minister, regarding supposed financial inconsistencies in his NGO. Louise, Khurshid’s wife, has negated the accusations and Congress has come to the aid of the minister. After October 12, 2012, Kejriwal and fellow IAC members Manish Sisodia, and Gopal Rai, and KK Dikshit, the president of the Rashtriya Viklang Party, went to the Parliament Street and announced the decision to continue the protest.

Louise Khurshid has meanwhile registered a case of civil defamation at the Delhi High Court against the TV Today Group and sought damages amounting to INR 100 crore. She has also questioned why only 3 people have come forward with the accusation of not receiving their aids saying that she is open to the NGO’s papers being scrutinized.

Multilateral funding is important for infrastructure says Chidambaram

P Chidambaram feels that it is critical that there is sufficient investment in the infrastructure sector so that there are sufficient jobs and economic growth, which in turn can be in tune with the global demands. He has also stated that it would be tragic if the World Bank was unable to assist its member nations with their capital requirements especially at a time when it is needed the most. He has stated that it is important there is a continued flow of finance for longer periods of time so that important challenges like development of infrastructure, reduction of poverty, and quick urbanization can be adequately met.

He has said that the World Bank has not been able to handle present global economic crisis as well as it handled it during 2008-09. He also feels that multilateral development banks can play a major role in the present economic environment where the propensity to provide long term developmental loans is less and thinks that the International Finance Corporation needs to be empowered.

Refinery in Odisha shut down before schedule by Vedanta

Vedanta Aluminium Limited (VAL) has for the present moment closed down its Odisha refinery before its scheduled closure date of December 5, 2012. Its major reason was that the company was unable to arrange the bare minimum amount of bauxite needed to keep the operations going. A senior official has stated that the plant will resume its functions once the necessary stock is accumulated for 10 to 15 days. The decision to close the plant had been taken during September 2012.

The refinery is located at Lanjigarh in Kalahandi district. It was commissioned during August 2007 and since then has been operating at less than its yearly capacity of one million ton per year alumina. In the last few weeks the plant had been operating well below its potential and the company operated the plant in spite of major losses by getting bauxite from other states. However, in the past few days no bauxite was available thus leading to the present situation. The refinery was set up with 800 million dollars and 3 lakh tons of bauxite are needed every month to make sure it is operating at full tilt.

AOC TV looks to market a million flat panel television sets in 2013

The company’s first ever exclusive brand outlet was opened in Kolkata. In the segment for flat panel TVs the company’s market share amounts to 3 percent. Seema T Bhatnagar, the director of AOC TV in India and SAARC region has stated that in 2013 the company will be looking to take it to 10 percent and also open 150 brand shops in India. 

AOC TV, a television maker based out of Taiwan, is aiming to sell a million flat panel televisions in India during 2013. For 2012 the company’s target is 300,000 units. AOC is owned by TPV Technology Limited and works as the global brand of the conglomerate with a business worth 12 billion dollars. The parent group makes various types of LCD and LED TVs for distribution around the world.

Indian soccer team in Singapore for international friendly

The Indian football team with 20 members has arrived at Singapore to participate in an international friendly against the home team. The encounter is set to take place at the Choa Chu Kang Stadium. The captain of the Indian team, Sunil Chhetri, has stated that it is going to be a challenging encounter for them as the opposition is playing on their home ground and are also a good team. He added that expectations from the Indian team are high as well after their result in the recently concluded Nehru Cup.

Gourmangi Singh, a defender, has expressed his happiness and sense of pride at playing for the national team and reuniting with his colleagues. Subrata Pal, the goalie, has stated that October 16 is a scheduled date for international football friendly matches and one way in which the country’s international rankings will improve is by taking part in more such encounters.

Blancaneves from Spain selected to close the 14th Mumbai Film Festival

Blancaneves, which is the official entry of Spain for the Oscars, has been selected to end proceedings at the 14th Mumbai Film Festival that will be staged from October 18 to 25. Pablo Berger has directed the silent drama shot in black and white is about Carmen, portrayed by Macarena Garcia, a good looking young lady, who faces abuse during her childhood from her stepmother, a role where Maribel Verdu has been cast.

Carmen tries to run from her past and participates in an exhilarating journey with a group of dwarves, Toreros who become her new friends. The film is set in 1920s and the story location is southern Spain. The event also promises special sections for French, Afghan, Italian, and Indian cinema, is presented by Reliance Entertainment, and organized by Mumbai Academy of Moving Image.

KPO industry in India set to grow thanks to stricter regulations in the US

The present levels of uncertainty in US’ economic environment and more rules are expected to put a greater focus on analytics and this is expected to help service providers in India. As per a recent report by Avendus Capital, US government is emphasizing more on stricter reporting parameters and risk management through regulation based reforms such as Dodd Frank, Basel 3, and CARD Act. It is also looking to encourage technologies that can deal with errors on a real time basis and this is supposed to increase analytics related expenditure.

As per the report, the developed countries will have more demand as outsourcing of core business operations has a greater level of acceptance now. The market for analytics in India is expected to attain the 1.15 billion dollar figure by 2015 and comprise 21% of the entire KPO market in India. India will also have a better position compared to regions like China, Philippines, Eastern Europe, and Latin America when it comes to analytics services at that time as per the same report.

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