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Major News and Events of 23 March 2015

What Happened on 23 March 2015

Telecom Spectrum Auction Receives Rs 1.07 lakh crore worth Bid; To Miss Rs 25,000 crore Upfront Payment this Fiscal

Telecom spectrum auction has got Rs 1.07 lakh crore worth bid after 16 days of auction (amounting to 88 per cent airwaves). The companies are needed to pay 1/4th of the bid within 10 days of sales close. However, with spectrum auction entering seventeenth day today, the upfront payment will be pushed to a date in the month of April, thereby the Union Government clearly missing the Rs. 25,000 crore revenue they expected to get within the ongoing financial year. Per available information, the government would have got the upfront payment within this fiscal if the auction ended last Saturday.

Bharati Airtel Announced Cloud Computing Services by Partnering with Amazon Web Services

Per available information, Indian customers will get cloud computing services from major telecom provider Bharati Airtel as it has forged a partnership with Amazon Web Services. Ajay Chitkara, CEO of Bharti Airtel's Global Business, while making the announcement said that his company has added a new cloud services provider in their expanding list of service providers for helping customers world over in getting benefits of the cloud. One of the most important aspects of cloud computing is that the customers don’t have to buy an entire product as they can use it on a pay as per use basis.    

Sania-Hingis Win their First Major BNP Paribas Open Women's Doubles Title

The new partnership between Sania Mirza and former World No. 1 Martina Hingis has kicked off well as they win their first major tournament - BNP Paribas Open women's doubles title. In the final match of the tournament, they beat Elena Vesnina and Ekaterina Makarova in straight sets 6-3, 6-4. The No.1 seeds didn’t lose a single set in the last 15 days, making it a dream start for the duo. After winning the tournament, Hingis said that the result is as expected and showed confidence in Sania. She added that it is relieving to see that the new partnership has clicked.  

PM Addresses Farmers on Land Acquisition Bill; Accuses Opposition of Spreading Falsehood

After united opposition cornering Union government in the parliament on Land Acquisition Bill and Congress initiating a fierce campaign portraying PM as anti-farmer, Narendra Modi during his “Mann ki Baat” programme at All India Radio hit back at opposition parties by saying that they are spreading falsehood on the Bill. During the programme, Modi reportedly said that earlier bill would have taken land from farmers without properly compensating them. However, INC’s Jairam Ramesh accused Modi of propagating ‘myth’. Congress also accused NaMo of doing “somersault” on promises made to the farmers regarding increase of Minimum Support Price by 50 per cent.

India is All Set to Train Military Personnel of Multiple Countries and Export Defence Equipments to Them

Manohar Parrikar, Union Defence Minister, told media at an international conference’s sideline that India is all set to train military personnel of at least thirty eight countries and at the same time provide defence equipments either through line of credit or export route. He went on to add that successful completion of this effort will help those countries who depend on India for their defence requirements. Analysts believe this is an effort of the Union Government to compliment Make in India effort. Manohar Parrikar also stressed on the need of strengthening international cooperation and partnerships, which will ultimately be the strength of India.

Indian Bourses Oscillating Between Red and Green

Market is oscillating between red and green, right from the morning. In the early hours of trade, while Nifty was down by 2 points, Sensex was up by 9 points. Market remained choppy till afternoon. At 12.44 pm IST, while NSE CNX Nifty was up by 10.55 points (trading at 8581.45 points), BSE Sensex was up by 38.16 points (trading at 28299.24 points). While S&P BSE AUTO, S&P BSE CAPITAL GOODS, and S&P BSE HEALTHCARE were in the green, most of the other Indian Indices including BSE IT, Smallcap, Midcap, and Bankex were in the red.

JSPL Stock Tumble Down as Government Cancels its 3 Coal Auction Bids

With start of trade today, Jindal Steel & Power witnessed significant fall in its price after reports surfaced that Union Government has cancelled highest bids of the company during Coal Block auction. The three blocks for which the bids of Jindal Steel are cancelled are Tara, Gare Palma IV/2, and Gare Palma IV/3. During early morning trade, JSPL stock price nosedived to Rs. 142, fall of 14 per cent. The stock opened at Rs. 151.00, much lower than previous close of Rs. 164.95. At 1.12pm IST, JSPL was trading at 151.65, a fall of 8.06 per cent, at BSE.     

Serious Difference of Opinion Surfaces Between RBI and Finance Ministry; FM assures "No Disconnect"

Available reports say that serious difference of opinions emerged between the Finance Ministry and apex bank of India regarding the issue of taking decision on key monetary policy and setting up of interest rate. With biggest regulatory shake-up on the cards for the first time in last eighty years, Union Finance Minister Arun Jaitley assured that “there is no disconnect” between the two parties. Reports claim that till amendment of existing RBI Act, all monetary policy and interest rate decisions will be undertaken by the RBI Governor. FM told media that details of the proposed committee will be decided eventually.

New Norms for International Financial Centres Set by SEBI

During a board meeting yesterday, SEBI (Securities and Exchange Board of India) has approved guidelines for governing IFSC (International Financial Service Centres). Per available information, Ahmedabad's GIFT City (Gujarat International Finance Tec-City) is going to be the first such centre in India. UK Sinha, Chairman of SEBI, said that the new IFSC norms will help in creating vibrant capital market activities in those centres. Per available information, a subsidiary can be built by either an Indian or foreign stock exchange. BSE and NSE - are reportedly willing to set up international exchanges in GIFT City.

Delegation of Separatist Leaders from J&K to Meet Pakistani Officials at Pakistan High Commission in New Delhi

Seven separatist leaders of Jammu and Kashmir including Masarat Alam have reached New Delhi to be a part of National Day celebration of Pakistan at its High Commission, located in India’s national capital. The delegation of separatist leaders is also scheduled to meet Pakistani officials and discuss certain important matters, source information reveal. When inquired about this development, Home Minister Rajnath Singh said that Pakistan High Commission is free to invite any person of their choice. While he emphasised on India’s stand of maintaining good relations with Pakistan, he asked Pakistan to not create “'dehshat gardi ka maahol” (atmosphere of terror).

All India Muslim Personal Law Board to Launch Nationwide Campaign to Boost Morale of Minorities

All India Muslim Personal Law Board (AIMPLB) has announced launching a nationwide campaign against Narendra Modi led Union Government as they allege the main ideological organisation of the Hindu right wing organisations - RSS - is conspiring to make India a “fascist state”. AIMPLB said that 'Defend Constitutional Rights Committee' of the board will launch a nationwide campaign for building sense of confidence among minority communities. Abdul Rahim Qureshi, assistant general secretary of the board, has told media after AIMPLB’s two-day convention in Jaipur that Muslims as well as Christians are feeling uncomfortable in India after Narendra Modi became Indian PM.    

Congress President Writes to IAS Officer DK Ravikumar's Wife; Assures Fair Inquiry

With opposition demand for CBI probe on the alleged suicide of upright and courageous IAS officer DK Ravikumar increasing, Sonia Gandhi has written to the wife of the deceased officer and assured a fair inquiry. With opposition alleging attempts of cover-up by Karnataka Government, Sonia Gandhi’s letter to Late Ravikumar's wife is seen by political analysts as an attempt to damage control the out-of-hand situation. Sources say that Siddaramaiah, Karnataka CM, is expected to announce CBI inquiry of DK Ravikumar’s untimely death anytime soon, after Sonia asked him to handover the case to the central sleuth agency.   

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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