SEBI to enhance Minimum Investment Amount Per Client managed by Portfolio Managers to Rs.25 lakh

Market regulator, Securities and Exchange Board of India (SEBI) on 28 January 2012 decided to enhance the minimum investment amount per client managed by portfolio managers to Rs.25 lakh from Rs.5 lakh at present by amending the SEBI (Portfolio Managers) Regulations, 1993. Portfolio managers will thus post thr amedment need to have a minimum portfolio size of Rs 25lakh per client.

It will be applicable on a prospective basis for new clients and for fresh investments by existing clients.

The amendment is to ensure segregation of holdings in individual demat accounts in respect of unlisted securities.

Amalraj won Maiden National Title at the 73rd Senior National and Inter-State TT Championships

A Amalraj won his maiden national title by defeating A Sharath Kamal in the final of the 73rd Senior National and Inter-State Table Tennis Championships in Lucknow on 29 January 2012. After the two traded blistering shots, Amalraj inched ahead from 7-all to lead 10-8.

It was a title double for Amalraj, as had won the men's doubles along with Sanil Shetty, defeating Harmit Desai and Devesh Karia of Gujarat (3-2) 12-10, 8-11, 10-11, 11-6, 12-10 in the final.

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Indians constituted about 20 per cent of the Tourists to Sri Lanka in 2011

Indians constituted about 20 per cent of the tourists to Sri Lanka in 2011. The number was almost the same as that in 2010.

In the period from January to November 2011, Sri Lanka received just over 7.5 lakh tourists. Of this, over 1.5 lakh were Indians. In 2010, out of the total of about 6.5 lakh tourists, Indians accounted for over 1.2 lakh.

According to the Indian High Commission in Colombo, in 2011 the visa office issued about 2 lakh visas to Sri Lankan nationals to facilitate travel to India.

the numbers from India are expected to reach an all-time high in 2012 owing to the International Cricket Committee's Twenty20 World Cup being held in Sri Lanka.

The Sri Lankan immigration requested people travelling to make sure that they apply for the right kind of visa ahead of commencing journey to the country. The country’s immigration authority mentioned that the online travel approval facility is exclusively meant for tourists, and not for any other group of persons. Businesspersons, journalists, and persons coming for other businesses are to approach the nearest Sri Lankan Mission and obtain an appropriate visa.

India’s NTPC signed an Agreement with BPDP to set up Thermal Power Plant in Bangladesh

Review Committee on the Delhi School Education Act and Rules 1973 (DSEAR–73) submitted its Rport

The Review Committee on the Delhi School Education Act and Rules 1973 (DSEAR–73) submitted its report to Chief Minister Sheila Dikshit on 30 January 2012. The committee was chaired by former Delhi Chief Secretary Shailja Chandra. The other members of the committee were Abha Joshi and Manish Kumar Gaur, a legal expert.

The committee consulted a wide range of stake holders and finalised its recommendations in three volumes after taking into account the views presented by a large number of persons associated with the field of school education in Delhi. The committee’s report is aimed atbringing about purposeful amendments to the Act and related rules.

Growth Rate of Eight Core Industries fell to 3.1% in December 2011 from 6.3% in December 2010

According to the data released by the Commerce and Industry Ministry on 30 January 2012, the growth rate of eight core industries slowed down to 3.1 per cent in December 2011 from 6.3 per cent in December 2010. These eight sectors had recorded a 6.8 per cent growth in November 2011. The decline in core sector activity was due to a fall in the production of crude oil and natural gas.

The eight core sectors have a combined weight of 37.9 per cent in the Index of Industrial Production (IIP).

Poverty Lines and BPL Population in India 2012

Poverty Lines and BPL Population  in India 2012,Poverty Lines in india, BPL Population  in India 2012,2012 india populations , recent population ratio in india

India signed Five Agreements with Trinidad and Tobago

Prime Minister of Trinidad & Tobago Kamla Persad Bissessar visited India from 5 January 2012 to 14 January 2012. India and Trinidad & Tobago on 6 January 2012 signed five agreements during her visit. The agreements are as following:  

1.Memorandum of Understanding between India and Trinidad & Tobago on co-operation in the field of traditional Systems medicine.
2.Air Services agreement between India and Trinidad & Tobago.
3.Technical Cooperation Agreement (In the field of Education) between India and Trinidad & Tobago.
4.Programme of Cultural Exchanges between India and Trinidad & Tobago for the years 2012-14.

January 2012 emerged as the Best Month in Terms of Foreign Fund flows since November 2010

 As per data published by the market regulator SEBI on 27 January 2012, net FII buying crossed the $2-billion mark in January 2012 making January the best month in terms of foreign fund flows since November 2010. FIIs had recorded a net outflow of $358 million in 2011. Inflows in January 2012 is in sharp contrast to over $1 billion outflow in January 2011. The surge in inflows also helped strengthen the Indian rupee which closed above the 49-level after nearly 10 weeks.

Trinidad and Tobago Prime Minister Kamla Persad Bissessar visited India

 Kamla Persad Bissessar visited India from 5 January 2012 to 14 January 2012. Kamla Persad-Bissessar is the Prime Minister of the Republic of Trinidad and Tobago. She is the seventh person to hold this position.  She is the country’s first female Prime Minister. She was sworn in as Prime Minister on 26 May, 2010.

India and Mali signed Three Agreements and issued a Joint Statement

The President of Mali, Amadou Toumani Toure visited India on 11-12 January 2012. India and Mali signed three agreements during this visit. The agreements are as following;

1.MoU on Co-operation in the field of Geology and Mineral Resources between the Ministry of Mines of the Government of India and Ministry of Mines of the Government of the Republic of Mali.
2. Joint statement by India and Mali on the occasion of the visit of the President of Mali.
3. India also extended Line of Credit of 100 million US dollars for a power transmission project.

Union Government’s Deficit In April-Dec Period of 2011 stood at At 92% of FY12 Estimate

Data released by the Controller General of Accounts on 31 January 2012 showed that the deficit situation in December 2011 was the highest since December 2008 when it stood at 163.8% of the fullyear target due to the fiscal stimulus provided by the government to boost the economy.

The deficit between April and December 2011 at Rs 3.81 lakh crore reached 92.3% of the 2011-12 estimate. It stood at 44.9% of the 2010-11 target in the corresponding period of the previous fiscal year.

UN-DESA Data revealed Higher Female Infant Mortality Rate in India

 United Nations Department of Economic and Social Affairs (UN-DESA) data for 150 countries over 40 years showed that India and China are the only two countries in the world where female infant mortality is higher than male infant mortality in the 2000s.

India was found to be the most dangerous place in the world to be a baby girl. The data revealed that an Indian girl child aged 1-5 years is 75% more likely to die than an Indian boy, making this the worst gender differential in child mortality for any country in the world.

Sheela Gowda of India shortlisted for UK’s Biggest Contemporary Art Prize, Artes Mundi

Bangalore artist Sheela Gowda, who uses unconventional materials like cow dung, ash and hair to make sculptures was shortlisted for UK’s biggest contemporary art prize, the 40000 pounds Artes Mundi.  Gowda is among seven artists chosen from over 750 nominations from around 90 countries.

Gowda started as a painter, but began making sculpture in response to events like Bombay riots and inequalities in India’s growth story. One of Gowda’s most well-known works is an ash sculpture titled Collateral which was made by burning incense on mesh frames to produce a landscape that looks ravaged by war. A piece she created for the 2009 Venice Biennale was made with hair collected from Tirupati.

Committed Nehruvite & One of the Doyens of Indian Diplomacy, Ambassador A K Damodaran died

Freedom fighter and one of the doyens of Indian diplomacy, Ambassador A K Damodaran passed away in New Delhi on 31 January 2012. Born in Tripunithura, Kerala in 1921, Damodaran was an IFS officer of the 1953 batch.

Damodaran had joined the foreign service in 1953 after playing an active role in the freedom struggle and a brief two-year stint at the Delhi University where he taught English. He practiced the diplomacy of realpolitik without surrendering national interests in the immediate years after Independence and was one of the last surviving diplomats of the Nehruvian era.

Union Government revised Economic Growth Rate for 2010-2011 Financial Year to 8.4 percent

The Union government on 31 January 2012 revised the economic growth rate for 2010-2011 financial year to 8.4 percent in comparison to the previous estimate of 8.5 percent. The Indian economy grew 8.4% in 2010-11, lower than the previous estimate of 8.5%, on the back of strong farm sector and services sector growth. The Indian economy, Asia’s third-largest slowed in recent quarters due to the impact of the global slowdown, high inflation and high interest rates. Policymakers estimated growth in 2011-12 to be close to 7%.

8.4% expansion in the gross domestic product (GDP) during 2010-11 was achieved due to high growth in transport, storage and communication (14.7%), financing, insurance, real estate and business services (10.4%), trade, hotels and restaurants (9%) and construction (8%).

Committee headed by Justice Dharmadhikari submitted Report on Air India Merger

Four-member committee on integration of thousands of employees after the merger of two State-owned carriers — Air India and Indian Airlines submitted his report to the Civil Aviation Minister, Ajit Singh on 31 January 2012. The committee was headed by former Supreme Court judge Justice D. M. Dharmadhikari.

The Committee also included Prof Ravindra H Dholakia of IIM Ahmedabad, Rajeshwar Dayal, expert on public sector employees’ service matters and senior Civil Aviation Ministry official Syed Nasir Ali, as its members.

The Committee tried to bring the wage structure of the merged organisation strictly under legal parameters, so that it conformed with the guidelines of the Department of Public Enterprises, which caters to other public sector undertakings.

UPSC Indian Police Service Limited Competitive Examination (IPS-LCE) 2012 Notification and Dates

Last date for receipt of applications: 01st April, 2012

Indian Police Service Limited Competitive Examination-2012

The candidates applying for the examination should ensure that they fulfill all eligibility conditions for admission to examination

Their admission to all the stages of the examination will be purely provisional subject to satisfying the prescribed eligibility conditions

Mere issue of e-admission certificate to the candidate will not imply that his/her candidature has been finally cleared by the Commission

Commission will take up verification of eligibility conditions with reference to original documents only after the candidate has qualified for Interview/Personality Test

Eligibility: The candidates, who fulfill the following eligibility conditions would be eligible for this examination

Telecom Commission decided to Allow Mobile Phone Companies to Share 2G spectrum Only

 The apex decision-making body of the communications ministry, the Telecom Commission decided to allow mobile phone companies to share spectrum. The Commission has however limited this facility to 2G airwaves alone. Second generation (2G) spectrum is largely used for offering vanilla voice services. The telecommnication companies cannot therefore share 3G spectrums.

Incumbents such as Bharti Airtel, Vodafone, Aircel and Idea Cellular took the government to court, after the telecom department asked these companies to terminate their 3G roaming deals. These companies had hoped the Commission’s policy changes had hoped that policy changes permitting the sharing of airwaves, would put an end to this controversy. The  companies had signed up 3G customers across the country riding on bilateral roaming agreements that allow these firms to use each other’s airwaves and offer high-end data services even in regions where they do not have 3G spectrum.

Department of Industrial Policy & Promotion to Design FDI Policy for Power Exchanges

Union finance ministry urged the department of industrial policy and promotion to design a FDI policy for power exchanges on the lines of commodity exchanges.

The ministry strssed upon the urgent need for clear FDI regime for power exchanges. since power exchanges are akin to commodity exchanges, a similar structure is to be followed while designing the FDI policy for power exchange.

The President of Mali Amadou Toumani Toure visited India

The President of Mali, Amadou Toumani Toure visited India on 11-12 January 2012. India and Mali signed 3 agreements during this visit. Both nations also issued a joint declaration on this occasion. This is the first-ever exchange of visit at this level between India and Mali.

The State Visit of President Toure is expected to provide an opportunity to further expand and consolidate the mutually beneficial relations between the two friendly countries.