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Major News and Events of 14 July 2015

What Happened on 14 July 2015


Ex-CJI RM Lodha-led Committee Pronounces Punishments for CSK official and RR Co-owner

Three member Committee led by ex-Chief Justice of India, Justice RM Lodha has banned both Chennai Super Kings (CSK) and Rajasthan Royals (RR) teams from participating at the Indian Premier League for 2 years. In addition, Gurunath Meiyappan (official of CSK team and son-in-law of ex-BCCI President) and Raj Kundra (co-owner of Rajasthan Royals) have been banned for life by the committee from all forms of cricket. As per the committee’s observations, actions of both Meiyappan and Kundra brought disrepute to the game and damaged people’s faith in cricket, IPL tournament, and BCCI. After the ban on two teams, BCCI sources say that 2 new franchises can be floated, fetching an estimated $100 million for BCCI.  

ISRO Chairman divulges Next Satellite Launch Programmes after Successful PSLV-XL Launch

A S Kiran Kumar, Chairman of Indian Space Research Organisation, has divulged plan of launching satellites in the coming three years. While saying that their next launch will be GSLV-Mark II in August 2015, he went on to add that ISRO will launch three additional navigational satellites by March 2016. With the successful Friday launch of PSLV-XL, Indian space agency has completed 45 commercial satellite launches, which belonged to 19 countries. A S Kiran Kumar also said that ISRO will be launching 28 satellites, which belong to 6 to 7 countries, in the coming three years or so. The SAARC satellite will be launched by December 2016.

US Vice President says India-US Bilateral Relationship made Tremendous Progress in Last 10 Years after signing Nuclear Deal

US Vice President Joe Biden has said that after one decade of inking the historic civic nuclear deal between India and the USA, bilateral relationship between the two countries has made tremendous progress. Biden made the statement at a dinner party, hosted by a US think tank Carnegie Endowment for International Peace and Confederation of Indian Industry, for celebrating 10th anniversary of inking the US-India nuclear deal. He also called for stepping up the effort of improving strategic partnership in the coming 10 years. Biden also emphasised the point that India conducts more joint military exercises with the US, much more than any other country globally.

Samsung's Smartphone Market Share in India slides by around 7 Per Cent in April-June Quarter 2015

A report published by Cybex Exim Solutions (an analytics and import data tracking company) said that during April-June quarter of 2015, leader of smartphone market in India, Samsung has lost 7 percentage points of the market share. The report also mentioned that the main reasons of falling market share of Samsung in smartphone market include competition given by Chinese and indigenous smartphone manufacturers through their aggressive pricing strategies. While Samsung’s smartphone market share has fallen from 28 per cent to 21.5 per cent, the same for Micromax has improved from 13 per cent to 17.9 per cent.

BJP Clarifies Amit Shah's 25 Years "Acche Din" Comment

While addressing an audience at mass contact programme in Bhopal, BJP President Amit Shah had said that merely one term of Narendra Modi government of 5 years can’t make India top power of the world. He went on to add that it will require 25 years to bring good days (“acche din”). BJP President, in an effort to bring out utmost enthusiasm from the BJP workers, said that for implementing “good days” the party has to win at every level, right from panchayat to the parliamentary level. After opposition parties targeting BJP for not being able to fulfill poll promises, the saffron party has clarified Amit Shah’s statement by saying that he meant 25 years will be required for India to get back its ancient glory of being the world leader (“Vishwa guru”).    

Congress CMs and West Bengal CM Mamata Banerjee to Skip PM Modi Convened Niti Aayog meeting on Land Bill

Sources say that Congress has decided and asked its Chief Ministers in different states not to attend the Prime Minister Narendra Modi convened Niti Aayog meeting on Land Acquisition bill, to be held in New Delhi tomorrow. West Bengal Chief Minister Mamata Banerjee has also sent a letter to PM Modi, opposing the proposed Land bill, and also communicated about her inability to attend the meeting. Reports say that government projects (at least 323 projects out of 758 projects) are running late because of the delay in passage of Land Acquisition Bill. Reports also claim that the worst hit sector among the union government projects are the infrastructural ones, accounting for 40 per cent.    

India Ratings retains 7.7 Per Cent Growth Forecast, Says Policy Interventions and Public Spending Critical for Infrastructural Issues

India Ratings has said that the key factors for sustaining growth story of Indian economy is policy intervention as well as public spending for addressing infrastructural issues. Though the rating firm has retained their growth forecast at 7.7 per cent, it has observed that government interventions are required on a continuous basis for fulfilling physical and social infrastructure deficits for long-term higher growth. Devendra Kumar Pant, chief economist of India ratings, said in a note that the economy can return to higher growth trajectory in coming 2 to 3 years if current policy initiatives are sustained.

Canada's Fairfax announces 26 per cent Stake Acquisition of IIFL at Rs. 1600 Crore

Canada’s Fairfax India Holdings Corporation has announced 26 per cent stake acquiring decision at IIFL Holdings, a financial service company based in Mumbai, through open offer. It has been announced that Fairfax will acquire 83.13 million shares in IIFL Holdings through open offer at a per share cost of Rs. 195. This means the total deal amount will be Rs. 1,621 crore. After the announcement, stock price of IIFL Holdings jumped more than 20 per cent today to touch an intraday high of 225.60. At 4pm IST, the stock closed at 207.05, an increase of 10.13 per cent or 19.05 points from previous close at 188 point.

Higher Food Prices jacks up Retail Inflation

Government data shows that retail inflation, measured by Consumer Price Index, has gone up to 5.4 per cent in the month of June 2015 from 5.01 per cent in May 2015. The actual data has even surpassed the forecast of 5.1 per cent CPI by Reuters poll of 30 economists. Reports say that 5.4 per cent CPI is the highest retail inflation witnessed in 8 months period, thereby dampening rate cut hopes. Indian economist at Nomura, Sonal Varma, said that in June’15, the main reason of inflation increase is that it is driven by food price rise. Food inflation has risen from 4.8 per cent in May’15 to 5.48 per cent in June’15.

CBI raids Social Activist Teesta Setalvad's Mumbai Home and Office

Central Bureau of Investigation (CBI) has raided renowned social activist Teesta Setalvad’s home as well as office in Mumbai on the charges of receiving funds illegally from abroad. Reports say that sixteen CBI officers carried out the raids in Mumbai. Teesta Setalvad said that it is confusing for her to understand the reason behind carrying out the raids when she already pledged full cooperation in the investigation. She also told media that it is a vendetta politics of the ruling BJP at centre and they are trying to humiliate her and her husband Javed Anand, on alleged embezzlement of funds charges.

Suspended IPS Officer says he will try for CBI Investigation

Senior IPS officer Amitabh Thakur, who had been allegedly threatened by Samajwadi Party supremo Mulayam Singh Yadav and then suspended by Uttar Pradesh government for violating service rules, has reiterated his position by saying that he has done nothing against UP government. With alleged raping charge slapped against Amitabh Thakur, the suspended IPS officer said that he will not seek bail in this case because "there is nothing that implicates" him. He also added that he will continue seeking CBI investigation “in the entire course of events”. Thakur also claimed that he has been suspended not because of indiscipline but for his wife taking on the illegal mining mafias of Uttar Pradesh.  




FAQs and Answers on Indian History and Geography
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