1. Devendra Fadnavis to be new
Maharashtra CM
i. Maharashtra BJP President Devendra
Fadnavis will be the state’s new Chief Minister. The decision was unanimously
taken by all the 121 newly elected legislators of the BJP.
ii. The Chief Minister Designate, Mr. Devendra Fadnavis along with his core team will now call upon Governor C Vidyasagar Rao and stake claim to form government.
ii. The Chief Minister Designate, Mr. Devendra Fadnavis along with his core team will now call upon Governor C Vidyasagar Rao and stake claim to form government.
iii. Devendra Fadnavis
will be sworn-in at Mumbai’s sprawling Wankhede Stadium on Friday with Prime
Minister Narendra Modi in audience.
2. Disclose names of
foreign bank account holders: SC
i. In an order with
far-reaching consequences, the Supreme Court on Tuesday directed the central
government to furnish it the names of all Indian foreign account holders given
to it by the German, French and Swiss authorities.
ii. The apex court
bench headed by Chief Justice H.L. Dattu told Attorney General Mukul Rohatgi
that the government need not do anything and just disclose the names to the
court and it will decide whether the matter should be investigated by the
income tax authorities or by the CBI.
iii. As
Rohatgi sought to impress upon the court that the veracity of the accounts
disclosed to it is being investigated by the income tax authorities, Chief
Justice Dattu said: "Why do you want to have trouble of investigating.
iv. The
court asked the attorney general to furnish the names in a sealed cover by
Wednesday.
3. 10th World Islamic Economic Forum gets
underway in Dubai
i. The 10th edition of World Islamic Economic Forum, WIEF
gets underway in Dubai today.
ii. More than 2,000 participants from 100
countries of the world are taking part in the three day event. The theme of the
forum is “Innovative Partnerships for Economic Growth”.
iii. The forum at the Madinat Jumeirah
Conference Center is expected to give a new impetus to Islamic economy, share
the experiences and to focus on making Dubai the Islamic economic hub in the
region.
iv. The organizers said that the event will share the best
practices and evidences for Islamic economy which is worth $ 6.7 trillion
today.
4. India, Vietnam
decide to step up security, defence ties
i. India and Vietnam on Tuesday decided to ramp up their
defence and security ties that will see supply of four naval patrol vessels to
Hanoi and increased training of its military personnel, a month after India
extended USD 100 million Line of Credit (LoC) for defence procurement.
ii. The decision between Prime Minister Narendra Modi and his
Vietnamese counterpart Nguyen Tan Dung, who held wide-ranging talks here, to
boost defence and security ties is likely to irk China. "Our defence
cooperation with Vietnam is among our most important ones. India remains
committed to the modernisation of Vietnam's defence and security forces,"
Modi said following his talks with Tan.
iii.
This will include expansion of training
programme, which is already very substantial, joint exercises and cooperation
in defence equipment.
5. Govt appoints
committee to assess compensation for coal blocks
i. Days after
promulgating an ordinance to e-auction Supreme Court-cancelled coal blocks, the
govt has formed a committee headed by former CVC Pratyush Sinha
to assess compensation to be paid for taking over running or ready to produce
mines.
ii. The panel, which
will also compromise officials of ministries of coal, power, finance and law,
will submit its recommendations by 10th November, sources with direct knowledge
of the development said.
iii. The
Supreme Court had on 24th September cancelled allocation of 204 coal blocks to
various companies between 1993 and 2009.
iv. Out
of these, 37 are running coal mines and another five are ready to produce by
April. Unlike others, their cancellation is to take effect from April 2015.
6. Nepal gearing up for SAARC summit next
month
i. Various SAARC member states are sending their advanced
teams to Kathmandu to assess the preparations for the regional event scheduled
from the 22nd to the 27th of next month.
ii. With just less than a month remaining
for the summit to begin, government officials, especially those at Ministry of
Foreign Affairs, are working on war-footing to complete the preparations for
the summit.
iii. Although substantive preparations for the Summit are almost over, logistic arrangements, including procurement of bullet-proof and other high-end cars for the visiting dignitaries, are still underway.
iii. Although substantive preparations for the Summit are almost over, logistic arrangements, including procurement of bullet-proof and other high-end cars for the visiting dignitaries, are still underway.
7. India slips 13 spots to 114 in WEF
gender gap index
i. India has performed poorly in removing gender-based
disparities, ranking 114 out of 142 countries in World Economic Forum's 2014
gender gap index. It slipped 13 spots from its last year's ranking of 101.
ii. The country scored below average
on parameters like economic participation, educational attainment and health
and survival. India is part of the 20 worst-performing countries on the labour
force participation, estimated earned income, literacy rate and sex ratio at
birth indicators.
8. India ranked 15 on political
empowerment sub index
i. India is among the top 20 best-performing countries on
the political empowerment sub index.
ii. Iceland has taken the top spot on the index
consecutively since 2009. The US is ranked 20 while at 141, Pakistan was the
second lowest ranking country,scoring poorly on all the four parameters.
iii. The index was first introduced by the World Economic Forum in 2006 as a framework for capturing the magnitude of gender-based disparities and tracking their progress.
iii. The index was first introduced by the World Economic Forum in 2006 as a framework for capturing the magnitude of gender-based disparities and tracking their progress.
9. Japanese telecom giant SoftBank to
invest $627 million in Snapdeal
i. Japanese telecom giant SoftBank will invest USD 627
million (about Rs 3,762 crore) in the online marketplace company Snapdeal.
ii. This is the largest investment made by a single investor in an e-commerce company in India which is the world's second most populous market.
iii. The investments come a day after SoftBank announced its plans to invest a whopping 10 billion US dollars in India in coming years, making the country its top most priority.
iv. Mr Masayoshi Son, had also met with Prime Minister Narendra Modi in New Delhi and believed to discuss various investment plans in India.
ii. This is the largest investment made by a single investor in an e-commerce company in India which is the world's second most populous market.
iii. The investments come a day after SoftBank announced its plans to invest a whopping 10 billion US dollars in India in coming years, making the country its top most priority.
iv. Mr Masayoshi Son, had also met with Prime Minister Narendra Modi in New Delhi and believed to discuss various investment plans in India.
10. Emaar MGF Land Limited tied up
with PayU India for its online payment service
i. Realty firm Emaar MGF
Land Limited on 27 October 2014 tied up with payment gateway firm PayU India
for providing an online payment facility to its customers.
ii. Emaar MGF customers
can now pay EMIs for their properties through PayUMoney
iii. PayUMoney will help
customers to pay anytime and any amount with no restrictions of NEFT or RTGS.
iv. The association will
enable Emaar MGF to offer a unique and secured payment gateway on its customer
service portal e-Services.
11. Bank of India to open branch in
Vietnam
i. Bank
of India gets licence to set up bank in Vietnam. The licence was handed over
after delegation level talks between Prime Minister Narendra Modi and visiting
Vietnam Prime Minister.
12. Ongoing selection process for public
sector bank CMDs, EDs scrapped
i. Public sector banks such
as Bank of Baroda, Canara Bank and Oriental Bank of Commerce may have to wait
longer to get a Chairman, as the selection process will have to stat afresh.
Based on suggestions given by a committee, the Government has cancelled the
current selection process.
ii. A statement issued by the Finance
Ministry on Monday said the Government had cancelled the current selection
process for appointment of Chairmen and Managing Directors (CMD) and Executive
Directors in public sector banks.
iii. “Eight posts of CMDs and 14 posts of EDs would require
to be filled-up ‘de novo’,” a statement issued by the Ministry said. Apart from
these banks, the post of CMD is vacant in Indian Overseas Bank, Syndicate Bank
and United Bank of India.
iv. The Government has decided that a fresh process for
selection would have to be implemented for filling up the existing vacancies.
v. The Reserve Bank of India Governor or his nominee in the
rank of Deputy Governor will be part of the new selection process. “The
Government would fill up all these vacancies expeditiously. The Government has
also decided to finalise a new process for selection of CMDs/EDs for all future
vacancies,” it said.
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