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Major News and Events of 30 October 2014

What Happened on 30 October 2014


ICICI Posts Healthy 3rd Quarter Results

ICICI Bank reported a year on year increase of net profit by 15 per cent in the third quarter of 2014. Significant expansion in net interest margins in retail advances and increase in non-interest income has helped in boosting the profit. While there was a 14 per cent growth in overall credit, net interest income swelled by 15 per cent.

Austerity Measures to meet Fiscal Deficit Target

NDA government seems to be serious about trimming fiscal deficit and meet the target of containing FD to 4.1 per cent of Gross Domestic Product in 2014-15. Some of the austerity measures announced by Arun Jaitley include halt on fresh appointments, stress on video conferencing for communicating abroad, stop holding meetings in lavish hotels by bureaucrats, etc.

Indian Behemoths Offloading Assets Abroad

Behemoths of Indian Industries seem to be offloading assets in overseas destinations for cutting debt. This phenomenon has been witnessed in all major Indian MNCs such as Reliance Industries, Birlas, and Tatas. Analysts say that besides debt servicing, the other motive of India Inc. is to exit from unprofitable ventures. The new billion group inductee, Adani Group has also sold its billion dollar Australian port project.

BJP Accuses WB Government for Being Lethargic on Taking Action Against Anti-National Elements

State unit of BJP has requested Election Commission to declare Trinamool Congress a ‘terrorist party’ due to its alleged links with many terrorist organizations especially Bangladesh’s Jamat-ul-Mujahideen. Rahul Sinha, West Bengal’s BJP President, has also accused the ruling party of carrying out assault against opposition. He pointed out unprecedented rise in rape cases in WB, especially after Mamata Banerjee government assumed state power. Muktar Abbas Naqvi, Vice President of BJP, has accused current WB government for making WB a safe haven for anti-national elements.

Shiv Sena Praises New Indian PM - Maharashtra CM Combine of BJP

SS has praised Narendra Modi and Devendra Fadnavis duo and went on to say that the BJP’s PM-CM combine will bring good days for the state. However, Shiv Sena has not shied away from cautioning BJP in considering support from Nationalist Congress Party. SS reminded BJP that people had overwhelmingly voted in their favour because BJP convinced voters of getting rid of the corrupted INC-NCP combine.

Administration Relaxes Prohibitory Orders in Trilokpuri

Administration relaxed prohibitory orders in East Delhi’s Trilokpuri for helping devotees to offer their prayers during Chhath puja. Police had done special arrangements for the devotees. Adequate women police were deployed. Per available information, similar steps will be undertaken by the administration during Muharram procession.

Black Money Probe and Estimated Benefit

After Union Government submitted the Black Money list before apex court of India, Attorney General Mukul Rohatagi said that the names will be handed over to SIT for investigation. Analysts have estimated that India’s successful completion of bringing back the black money from abroad will increase the Foreign Exchange reserve by $30 to $35 billion, which will give India the ability to import for 4 months.

Saradha Scam: SEBI Officials to be Chargesheeted by CBI

Multi-crore Saradha scam is becoming murkier as Central Bureau of Investigation is preparing to chargesheet 4 officials of Securities and Exchange Board of India who were allegedly involved in the Rs 10,000-crore chit fund scam. Apex Court of India had earlier criticised the approach followed by different regulating agencies, including SEBI, in handling the scam.

Global Consumer Confidence – India Tops the Chart in Q3

Nielsen, one of the leading market research companies, found out that in the 3rd quarter of 2014, India is at the top of the global consumer confidence list. During July-September, India accumulated 126 points, pushing behind Indonesia and Philippines to 2nd and 3rd positions, who accumulated 125 and 115 points respectively.

Clash of Tennis Titans in New Delhi

Micromax Indian Aces, franchise of International Premier Tennis League, has said that Indian tennis lovers will get the opportunity to see the behemoths of tennis (Roger Federer, Pete Sampras, Novak Djokovic, Daniela Hantuchova, Ana Ivanovic, etc.) play before their eyes at Indira Gandhi Indoor Stadium from December 6 to December 8, 2014. Online sales of 6000 tickets will start from October 31 at 9am IST.

E-Cigarettes may get Banned in India

During 45th Union World Conference on Lung Health in Spain’s Barcelona Union Health Minister of India Harsh Vardhan said that e-cigarettes are equally harmful as normal tobacco cigarettes and the former also make children fall for it and thereby get addicted to nicotine at an early age. Health ministry is on its way to ban e-cigarettes in India. It is a bad news for ITC’s Eon brand, which was launched in August.

Oppo Unveils R5 and N3; India Launch in December

Oppo has unveiled two happening smartphones – R5 and N3 – on Wednesday. It will launch both the products in India by December end. While Oppo R5 is a mid-range device, N3 is a premium smartphone. Oppo N3 is equipped with 206 degree swiveling camera (16MP sensor) and will be available in India at Rs. 40,000. Oppo R5 will be available in India at Rs. 31,000. It will be have a 64-bit Snapdragon 615 CPU, 13MP camera, and extremely slim body.




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