Current affairs-magazine-september-2012-1

Current Affairs PDF September 2012 Page 1

CURRENT AFFAIRS PDF
WWW.JAGRANJOSH.COM
SEPTEMBER 2012

www.jagranjosh.com Current Affairs PDF September 2012
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Table of Contents
Pick of the Month ......................................................................................................................... 12

The 16th Non-Aligned Movement Summit Was Held In Tehran .......................................... 12

Child Mortality Estimates Report 2012 released: India at top ............................................. 12

Jal Satyagraha ended after 17 days demonstration ............................................................. 13

51 percent FDI in multi-brand retail and 49 percent in Aviation ......................................... 14

Verghese Kurien, the Milkman of India died ........................................................................ 15

Russia declassified the existence richest diamond field ....................................................... 16

International ................................................................................................................................. 18

USA slapped sanctions on laskar-e-toiba’s eight commanders ............................................ 18

India and Tajikistan signed six agreements .......................................................................... 18

Sixth Mekong–Ganga cooperation meeting held in New Delhi ........................................... 18

Smita Shah, the first Indian American at DNC Parliamentarian ........................................... 19

Gaurav Shumsher Rana became Nepal’s Army Chief ........................................................... 19

US uplifted Terrorist designation from Nepali Maoists ........................................................ 20

India & Pakistan issued joint statement on SM Krishna's visit ............................................. 20

Worldwide protests against the film Innocence of Muslims ................................................ 21

US Diplomat to Libya killed in Benghazi Attack .................................................................... 22

Pieta the South Korean Film won Golden Lion Venice Top Prize ......................................... 22

A Merchant Vessel was on fire near Mumbai Coast............................................................. 23

Trilateral Connectivity Project by 2016 ................................................................................ 23

India extended a credit of $10 Million to Palestine.............................................................. 23

MIT topped on the Qs World University Rankings Chart ..................................................... 24

India and Saudi Arabia hold their first talk on defence ties ................................................. 24

India and Pakistan signed MoU to expand business base .................................................... 25

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Hassan Sheikh Mohamud is the new president of Somalia.................................................. 25

Hassan Sheikh Somalian president survived assassination .................................................. 26

Farida Malik a girl of Indian Kazakh became Miss Almaty 2012........................................... 26

Defence Minister, A.K. Antony opened an Army Hospital in Male ...................................... 27

China signed 16 new Agreements with Sri Lanka ................................................................. 27

India Offered Telecom Support to Turkmenistan ................................................................. 27

US & Japan agreed to deploy advanced missile defense system ......................................... 28

Pakistan test fired cruise missile, Babur ............................................................................... 28

Majeed became Chief Minister of Eastern Province, Sri Lanka ............................................ 29

Salman Rushdie released his Book Joseph Anton ................................................................ 29

India and Nepal signed MoU for constructing School Building ............................................ 29

India and Burundi signed 3 Major Agreements .................................................................... 29

India signed a memorandum of understanding with Egypt ................................................. 30

Hadia Tajik appointed as Norwegian Cultural Minister ........................................................ 30

China included Liaoning as its first Aircraft Carrier .............................................................. 31

India Malaysia to achieve a target trade of USD 15 Million ................................................. 31

US, India and Afghanistan held its First Trilateral Discussion ............................................... 32

International Current Affairs Quiz ........................................................................................ 32

World Dairy ................................................................................................................................... 38

Economy........................................................................................................................................ 41

GAAR Report submitted by the Shome Committee ............................................................. 41

Government cleared Rs 808 crore FDI proposal by Cloverdell ............................................. 43

Cabinet gave a nod to two subsidiaries of Air India ............................................................. 43

Report: Indian external debts are within manageable limits ............................................... 44

Karnataka agreed to release 10,000 cusecs of water ........................................................... 45

EGoM cut down the loan interest rate to 7 percent ............................................................ 45

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Sc asked Essar Oil to pay the sales tax dues in phases ......................................................... 45

Inflation rose by 0.68 percent in a month’s time ................................................................. 46

IRCTC introduced Interbank Mobile Payment System ......................................................... 46

Chidambaram pitched for National Investment Board ........................................................ 46

Green Tax introduced on vehicles entering Shimla .............................................................. 47

Trial to make Maharaja Express affordable .......................................................................... 47

Cash Reserve Ratio slashed to inject Rs 17000 crore ........................................................... 48

Indigo Airlines emerged to be the top ranked carrier .......................................................... 48

Bank details of mining firms demanded by Finance Ministry .............................................. 49

Foreign Investment cap hiked to 74 percent on Broadcasting............................................. 50

CCEA approved 1.90 crore lakh package on debt restructuring........................................... 50

CVC instructed CBI to expand the scope of investigation .................................................... 50

Economy Current Affairs Quiz............................................................................................... 51

Corporate ...................................................................................................................................... 58

SC directed Sahara to refund 17400 Crore to its Investors .................................................. 58

Deepak Parekh nominated to Competition Commission of India ........................................ 58

Tech Mahindra Acquired Hutchinson Global Services .......................................................... 58

Jindal Steel & Power acquired Canadian firm CIC for Rs 650 cr ........................................... 59

BEL and Thales entered into a joint venture ........................................................................ 59

Cargotec tied up with Tata Communication ......................................................................... 60

ICICI to extend its net banking services through Facebook .................................................. 60

Partnership in between Alstom Grid and Toshiba Corp ....................................................... 60

Infosys acquired Switzerland based firm Lodestone ............................................................ 61

Sales percentage of car declined in India ............................................................................. 61

Welspun found lenders for its 50 MW solar Project ............................................................ 61

Contract inked between BHP Billiton and BG Group ............................................................ 62

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NIIT and Microsoft came together for Cloud Training.......................................................... 62

Bank of India opened its first branch in South Africa ........................................................... 63

Supreme Court directed Essar Oil to pay the sales tax dues ................................................ 63

L&T restructured its Engineering and InfoTech services ...................................................... 63

DMRC started training program to train new recruits ......................................................... 63

Tech Mahindra acquired 51% stake in Comviva Technologies ............................................. 64

ITC launched Grand Chola a luxury five Star hotel in Chennai ............................................. 64

HDFC Bank Commissioned its 10001st ATM at Kovalam ...................................................... 64

HDFC Bank announced the Launch of Credit Card for Teachers .......................................... 65

Top-level appointments announced by Tata Motors ........................................................... 65

Schroder Singapore acquired 25% stake of aamc ................................................................ 65

Indigo Airlines emerged as top ranked carrier ..................................................................... 65

Tata Steel won a high-speed Rail Contract in France ........................................................... 66

Ex-COO and MD of Reebok India held for Rs 870 Crore Fraud ............................................. 67

HCL Tech signed Multi-million dollar deal with Freescale .................................................... 67

Naveen Jindal, placed at the top in Executives Pay Chart .................................................... 67

DMRC won work in Jakarta Metro Project ........................................................................... 68

Cairn Energy sold 8 percent stake in Cairn India .................................................................. 69

Daimler India launched 3 BharatBenz Trucks ....................................................................... 69

Tata Group got an extension to manage the Taj Mansingh ................................................. 69

Dalmia Cement acquired Meghalaya based Adhunik Cement ............................................. 70

Corporate Current affairs quiz .............................................................................................. 70

National ......................................................................................................................................... 77

SC: directed government to re-fix pay scale of army officers .............................................. 77

Union cabinet approved interest subsidy for farmer loans .................................................. 77

SC granted two weeks time to take a call on Abu Salem ..................................................... 77

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SC: media can be restrained from pressing trials ................................................................. 78

Government reduced Interest Rate on rescheduled Crop loAN .......................................... 78

Environment clearance of 99 Mines in Goa suspended ....................................................... 78

SC lifted the Gag Order on Media Reporting ........................................................................ 79

Rashtriya Aarogya Nidhi Scheme launched .......................................................................... 79

New measures announced for welfare of overseas Indians ................................................ 80

SC: Land belonging to SC/ST cannot be bought by Non-Dalits ............................................. 80

DA hiked for Union Government Employees........................................................................ 81

Union Cabinet approved the Demands of Ex-servicemen.................................................... 81

Service tax issued on different types of rail fares................................................................. 82

Indian Sovereign Rating is Stable-Moody ............................................................................. 83

Farmers challenged the water release issue in SC ............................................................... 83

SC: alternatives can be used for natural resource allocation ............................................... 84

Election Commission prohibited use of animals in Campaigns ............................................ 84

Nirmal Verma appointed as Indian envoy to Canada ........................................................... 84

Jaideep Sarkar appointed as the new envoy to Israel .......................................................... 85

NDMA observed its 8th Formation day ................................................................................ 85

Altamas Kabir sworn-in as 39th Chief Justice of India .......................................................... 85

Chief Justice of India S.H. Kapadia retired ............................................................................ 87

National Current Affairs Quiz ................................................................................................ 87

Indian Diary ................................................................................................................................... 93

State .............................................................................................................................................. 97

TCS to monitor MGNREGA Fund in West Bengal.................................................................. 97

Temporary suspension of mining operations in Goa ............................................................ 97

SC: Notice to Tamil Nadu on petition challenging 69% quota .............................................. 97

Delhi Government imposed a Blanket Ban on Plastic Bags .................................................. 98

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Punjab Government amended Canal and Drainage Act ....................................................... 98

UP launched the Samajwadi Swasthya Seva in the State ..................................................... 98

Chhattisgarh HC annulled the Land acquired by Government ............................................. 99

Haryana instituted Four Awards to Felicitate Women ......................................................... 99

Andhra Pradesh to set up 15 Marine Police Stations ......................................................... 100

Haryana Government Signed Memorandum of Understanding ........................................ 100

Justice Murugesan became chief Justice of Delhi High Court ............................................ 100

Delhi CM, Sheila Dikshit green signaled the Ladies Special Buses ..................................... 101

Tunnel joining the Amber Palace and Jaigarh Fort unveiled .............................................. 101

Massive door-to-door Cancer Detection Campaign in Punjab ........................................... 102

Sanjay Mitra appointed as new Chief Secretary of West Bengal ....................................... 102

Sports .......................................................................................................................................... 104

India beat Cameroon to win Nehru Cup Football Tournament .......................................... 104

India beat New Zealand by 5 Wickets and won the Series 2-0........................................... 104

High jumper Girisha won silver at Paralympic 2012, London ............................................. 104

Andy Roddick bids a goodbye to Tennis ............................................................................. 105

Indu’s triumph with a bronze at World Junior Championship ........................................... 105

Special Committee submitted report in favor of Hockey India .......................................... 105

Lewis Hamilton became the winner of Italian Grand Prix 2012 ......................................... 106

Serena Williams won Women's Singles US Open 2012 ...................................................... 106

Andy Murray won Grand Slam single championship.......................................................... 106

Klitschko retains his heavy weight title .............................................................................. 107

Virender Singh won Bronze in World Deaf Championship ................................................. 107

Smiling Armadillo is the official Mascot of 2014 FIFA ........................................................ 107

Railways won the National Open Athletics Championships ............................................... 108

Dhoni named as the captain for IIC ODI team of the year ................................................. 108

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AITA extended the Ban on Mahesh Bhupati and Rohan Bopanna ..................................... 108

Daryl Tuffey retired from both all formats of Cricket ......................................................... 109

Indian Women won SAF Football Championship 2012 ...................................................... 109

Liberty Medal awarded to Muhammad Ali......................................................................... 109

Anuraag Thakur became a member of Asian Cricket Council ............................................ 109

Virat Kohli became the ICC ODI Cricketer of the Year ........................................................ 110

Wave Group is the owner of Delhi Franchise of Hockey India ........................................... 110

Mariamma Koshy appointed as full-time President of HI .................................................. 111

Golfer Gaganjeet Bhullar grabbed third Asian tour title .................................................... 111

Chandrika Tarafdar excelled in Weightlifting Championship ............................................. 111

Saina Nehwal signed up a 40-crore deal............................................................................. 111

Matthew Hayden retired from all formats of the game ..................................................... 112

Deepika Kumari won Silver at Recurve World Cup ............................................................. 112

Abhishek Matoria elected as President of IBF .................................................................... 112

Caroline Wozniacki won the WTA Title at Korean Open .................................................... 113

John Terry retired from International Football .................................................................. 113

Mary com is the brand ambassador of Super Fight League (SPL) ...................................... 113

Double Trap Shooter, Sodhi won Silver at ISSF World Cup ................................................ 114

Sandeep Patil appointed as BCCI Selection Committee chief ............................................ 114

Sports Quiz .......................................................................................................................... 114

Science & Technology ................................................................................................................. 121

Gene Therapy that can restore the Sense of Smell developed .......................................... 121

Australian Scientists discovered Alzheimer's Treatment ................................................... 121

India’s multi-lateral collaboration with European Nations ................................................ 121

Proteins that can protect against diabetes discovered ...................................................... 122

ISRO made a century with the launch of PSLV-C21 ............................................................ 122

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S. Williams took command of International Space Station ................................................ 123

New Nuclear Safety Agency launched in Japan .................................................................. 123

India successfully test-fired Agni-IV Missile........................................................................ 124

Curiosity Rover found evidence of waist-deep flowing stream ......................................... 125

Science Current Affairs Quiz ............................................................................................... 125

Environment Ecology .................................................................................................................. 131

ZSN and IUCN released data species fearing extinction ..................................................... 131

Suspension of Environment clearances for 99 Mines in Goa ............................................. 131

International Day on Preservation of Ozone Layer celebrated .......................................... 132

Great Indian Bustard got Shonkaliya region to breed ........................................................ 133

Water around Union Carbide Plant found to be contaminated ......................................... 133

Disintegration of Indo-Australian plates caused earthquakes ........................................... 134

SC: on commissioning of kundankulam project ................................................................. 135

Government ordered a CBI Probe into attacks on Rhinos from Poachers ......................... 136

Atlas named Aquifer System of India released ................................................................... 137

Events in One Line....................................................................................................................... 139

News Capsule .............................................................................................................................. 142

Ramesh Abhishek appointed as FMC chairman ................................................................. 142

Aishwarya appointed as International Goodwill Ambassador ........................................... 142

International day of Peace observed worldwide ................................................................ 143

C.P. Joshi appointed as the new Railway Minister ............................................................. 143

The Malayalam film actor, Surendranatha Thilakan died .................................................. 144

Forbes Annual Ranking List of 400 richest Americans released ......................................... 144

Bill Gates still the richest person in America ...................................................................... 145

Aung San Suu Kyi received US Congress Highest Honour................................................... 145

Dinesh Thakur, the veteran actor-director died ................................................................. 145

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Former footballer from Delhi, Sardar Man Singh Batra Died ............................................. 146

SC refusal to review petitions challenging RTE Act, 2009 .................................................. 146

Right of Children to Free and Compulsory Education Act, 2009 ........................................ 146

A A Manavalan won Saraswati Samman ............................................................................ 146

Urdu Poet Muzaffar Razmi died at Kairana in Shamli district ............................................ 147

Government decided to launch Saksham ........................................................................... 147

Plastic Omnium planned to build its third factory in Russia............................................... 147

Web Portal named Track Child launched ........................................................................... 147

Ruhl appointed as India’s country director for world bank ................................................ 148

HC delhi ordered GPS system installation in Auto Rickshaws ............................................ 148

FICCI General Secretary Rajiv Kumar Resigned .................................................................. 149

Rajiv Mehta appointed as Director General of NCB ........................................................... 149

Former Sarsanghchalak of RSS KS Sudarshan died at Nagpur ............................................ 150

Veteran communist leader A.M. Govindarasu passed away .............................................. 150

The President of Tajikistan Emomali Rahmon visited India ............................................... 151

Justice Altamas Kabir appointed as Chief Justice of India .................................................. 151

Tilak Kumar is the president of The Indian Newspaper Society ......................................... 151

Fuego Volcano in Guatemala started spewing Ash and Lava ............................................. 152

Fortis Escorts won FICCI Healthcare Excellence Award 2012 ............................................. 152

Former Chief Justice of India Ranganath Misra Died.......................................................... 152

Sheryl Kumar was Crowned as Miss India Fiji 2012 ............................................................ 153

Cartoonist Assem Trivedi granted bail by Mumbai High Court .......................................... 153

Tensions grew over Senkaku Islands between Japan and China ........................................ 154

Jeet Thayil shortlisted for the Man Booker for Narcopolis................................................. 154

Vice president of India M. Hamid Ansari released a book ................................................. 154

World suicide prevention day observed in India ................................................................ 155

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NAM (Non-Aligned Movement) Summit 2012 held in Tehran ........................................... 155

Pieta the South Korean Film won Golden Lion Venice Top Prize ....................................... 156

Aseem Trivedi the cartoonist from Mumbai held for sedition ........................................... 156

Padamshree Dr. AN Purohit won Shiksha Ratna Award ..................................................... 156

List of most influencing finance personality released ........................................................ 156

Dr. KC Abraham awarded with Business Excellence Award ............................................... 157

World Economic Forum report released, india ranked 59 ................................................. 157

Sachin Pilot commissioned as a Lieutenant in Territorial Army ......................................... 157

Kaushik Basu appointed as World Bank Chief Economist .................................................. 158

DCGI directed Drug Companies to submit Safety Reports ................................................. 158

Mobile Connection to Foreigners for maximum three months ......................................... 158

Devendra Kumar Joshi took over as the new Indian Navy Chief ........................................ 159

Questions of the Month.............................................................................................................. 161

For More Info .............................................................................................................................. 162

Be what you want by following the links given below ....................................................... 162

Don’t miss the information of past quarter, just CLICK BELOW ......................................... 162

For more information click on the below mentioned links ................................................ 162

For specific notifications of UPSC click on the links ............................................................ 163

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PICK OF THE MONTH
THE 16TH NON-ALIGNED MOVEMENT SUMMIT WAS HELD IN TEHRAN
The 16th NAM (Non-Aligned Movement) summit was held at Tehran, Iran on 30-31 August
2012. The theme of the summit was Lasting Peace through Joint Global Governance. At the
Tehran Summit, the Chairmanship of NAM was passed on from Egypt to Iran in accordance with
the NAM’s practice of regional rotation. The NAM meeting in Tehran was held in three phases:
preparatory senior officials meeting on 26-27 August, ministerial level meeting on 28-29
August, and the summit on 30-31 August. Heads of the government from over 100 countries
participated in the Tehran Summit to discuss the new global challenges.

At the end of the summit, the outcome documents were adopted which put emphasis on
peace. Participants called for fundamental changes in global governance and collective
management of the world as the precondition of establishing peace, and all of them expressed
the call for avoiding conflicts in the world.

Venezuela was selected the host for the 17th NAM Summit in 2015 and two nations, namely
Azerbaijan Republic and Fiji, were accepted as the new members of the organization. The NAM
was founded in the former Yugoslavia in 1961. It represents almost two-thirds of the UN
members and about 55 percent of the world population.

INDIA'S STANCE AT TEHRAN SUMMIT
India expressed support for popular aspirations for a democratic order in Syria while cautioning
against external intervention. India urged NAM to take a clear stand on Syria.

CHILD MORTALITY ESTIMATES REPORT 2012 RELEASED: INDIA AT TOP
In the Child Mortality Estimates Report 2012 published on 12 September 2012, by United
Nations Children’s Fund (UNICEF), India was placed at the top position in the chart of 10
countries that topped on the chart. The other countries with their names on the chart are
Nigeria, the Democratic Republic of Congo, China, Pakistan, Indonesia, Ethiopia, Bangladesh
and Afghanistan.

As per the report, Nigeria, the Democratic Republic of Congo, China, Pakistan along with India
are the countries with more than fifty percent of the total deaths. The countries with world’s
lowest mortality rate are Singapore, the Nordic Countries, Japan and some of the European
Countries. But the good news of the report is the decrease in the number of the under five
mortality to 6.9 million from that if the 12 million in 1990. This fall measures to 51 per thousand
in 2011 from that of 87 per thousand in 1990.

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The report also cleared that approx 40 percent of the total deaths were reported within 28
days (neonatal period) of birth which counts to be three million deaths in total.

THE IDENTIFIED CAUSE FOR THE MORTALITY IS
 14 percent due to pre-term birth complications
 18 percent due to Pneumonia
 11 percent due to Diarrhea
 9 percent due to Intrapartum related complications
 7 percent of the total deaths happen

JAL SATYAGRAHA ENDED AFTER 17 DAYS DEMONSTRATION

The most outstanding demonstrations of its own kind in Khandawa district of Madhya Pradesh
named Jal Satyagraha continued for 17 days at Omkareshwar Dam Project came to an end on
10 September 2012. Across 1000 acres of cultivatable land has been submerged into water with
at least 60 odd villages that will not be visible in the map of India any more. The Satygrahis
demanded land for the land compensation following the ruling of Supreme Court.

The oustees in the Satyagraha remained standing in the neck deep water with demands like
lowering down the level of water stored in the dam to 189 meters and to provide land for land
compensation ended the battle on the victory note.

A high level committee has been constituted to hear the grievances of the dam effected people.
The constituted committee will comprise of Minister of State for Narmada Valley Development
K.L. Agrawal, SC-ST Welfare Minister Kunwar Vijay Shah, Commerce and Industries Minister
Kailash Vijaywargiya, Principal Secretary, Narmada Valley Development Rajneesh Vaish and the
Indore Divisional Commissioner.

JAL SATYAGRAHA
Jal Satyagraha is a type of Satyagraha in which 51 farmers from Khandwa district of Madhya
Pradesh stood in the neck dip water of Omkareshwar Dam for 17 days continuously asking for
their rehabilitation.

In this unique way of demonstration by the agitators of Khandwa region of Madhya Pradesh
against the state government demanding for their rehabilitation after their lands and homes
were flooded off by the Omkareshwar Dam water. The Satyagrahis demanded for the
compensation as per the ruling of the Supreme Court. The agitators termed as Jal Satyagrahis
made a decision to stand in neck deep water of the dam, all wet and damp.

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OMKARESHWAR DAM PROJECT
Omkareshwar Dam Project is a 520 MW project constructed by the Narmada Hydroelectric
Development Corporation in joint venture with Madhya Pradesh Government and NHPC is
among the biggest dam on Narmada River. The Omkareshwar project area, lies in between the
banks of the two important rivers of India, Narmada and Kaveri (it’s a tributary to Narmada). It
was conceived as an irrigation and power dam to be built in the state of Madhya Pradesh in the
year 1965. The project is one of the fasted completed hydroelectric projects of the country in
between 2004 and 2006. The project has benefitted about 529 villages with irrigation facilities
and has helped in raising the yield to 0.725 million tons of grains along with .835 million ton of
other crops in the region.

51 PERCENT FDI IN MULTI-BRAND RETAIL AND 49 PERCENT IN AVIATION
The Union Cabinet on 14 September 2012 cleared the proposal of foreign direct investment
(FDI) for 51 percent in the multi-brand retail chains and 49 percent in Aviation power exchanges
industry. Passing of the proposal have cleared the floor for welcoming the multi-brand retail
chains like Wall mart and Tesco and Carrefour in the country for setting up of their shops and
retail outlets. Similarly, the 49 percent of FDI allowed in aviation and Power exchanges will
bring in funds for the domestic carriers on a verge of death and will help in enhancement of
power availability and distribution management, respectively.

CONDITIONS PUT FORWARD FOR INVESTORS IN MULTI-BRAND RETAILS
 The proposal makes a clear stand that investors looking ahead for investments will have
to take the permission in form of approvals from the Foreign Investment Promotion
Board
 Investment of minimum $100 million is a must for any foreign investor planning to invest
in India, out of which 50% of the investment should be made in creation of back-end
infrastructure. Back-end investment means investments that is made in quality control,
warehouse creation, cold storage, design improvement, manufacturing, processing and
packaging
 The investors will have to get 30% of the production of their total products by the small-
scale industries
 The proposal also clears that the agricultural produce like pulses, flowers, fruits,
vegetables, poultry item, fishery, meat and others can be unbranded
 Investors can invest in the 51 cities with a minimum population of 10 lakh people as per
the census presented in the year 2011

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FOR MAKING INVESTMENT IN THE AVIATION SECTOR, THE PROPOSALS HAVE
 This will help in making equity invasion for the aviation companies seeking financial
support at the time when maximum of the domestic airlines are passing through a
phase of losses.
 Investors who are not functional in airline business can own equity of 49 percent
directly or indirectly in the Indian Aviation Companies.

FDI IN POWER EXCHANGES WILL BE GUIDED VIA
 49 percent of FDI in power trading exchanges will be taken care of as per the regulation
laid down by SEBI and Central Electricity Regulatory Commission (Power Market)
Regulations) 2010.
 The commerce minister stated that Foreign Institutional Investors cannot exceed a limit
of 26 percent investment and the paid-up capital will be restricted to 23 percent.
 FII can be permitted under automatic routes whereas; the FDI will be scrutinized under
the route approved by the government.
 The generation of electricity, power transmission and distribution along with trading will
be done in accordance to the provisions of the electricity Act 2003.
 The current policy allows FDI up to 100 percent in power sector (atomic energy is an
exception)

WHAT DOES IT MEAN FOR DIFFERENT ECONOMIC SECTIONS OF INDIA
 Economy: Help in reversal of the economic slowdown, attract the investment of billions
of dollars from foreign market and spin jobs to a greater extent
 Kirana Stores: Will lower down the selling price, because they will purchase the supplies
from deep down retailers
 Retailers: Can sell their equity up to 51% to the global leaders
 Farmers: They can sell their produce directly at higher prices and the presence of middle
man will end
 States: Decision to allow the retail giants or prohibit lies in the hands of states
 Common Man: A chance to gain big discount with many options to shop
 UPA government: Got a chance to wash away the blames of policy paralysis

VERGHESE KURIEN, THE MILKMAN OF INDIA DIED
The man responsible for bringing white revolution in India and founder of world’s largest dairy
company Amul, Verghese Kurien (90) took his last breath in a hospital at Nadiad, on 9
September 2012. The body of Dr. Kurien was cremated in the ultramodern crematorium at
Kailash Bhumi in the milk capital of India- Anand, Gujarat in presence of his admirers and staff
members of milk cooperatives.

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Gujarat Co-operative Milk Marketing Federation (GCMMF) was founded under the
chairmanship of the visionary. He was appointed to
be the founder Chairman of National Dairy
Development Board in the year 1965 by the then
Prime Minister, Lal Bahadur Shastri. He played a
major role in different organizations like, he
chaired the Vikshit Bharat Foundation and been a
Chairman for Board of Governors of Institute of
Rural Management, Anand.

Kurien, who was born in Kerela on 26 November
1921, in a Syrian Christian family was a mechanical engineer by education with dairy
engineering as his minor subject. He was sent to Anand by the first home minister of Indian
Union, Sardar Vallabh Bhai Patel to look after the existing problems of farmers in 1949 and
since then Anand turned up to be the home for the Milkman of India. He along with his team is
known as the pioneer, who invented the process of transforming buffalo’s milk into condensed
milk as well as powder instead of the cow’s milk.

His vision and leadership together helped the then milk deficit country India to be the largest
milk producing country of the world. India’s contribution to the total milk production of the
world is about 17%. Because of his contributions to the nation, Verghese Kurien won awards
namely Magsaysay Award, the world food prize and India’s second highest civilian award,
Padma Vibhushan. Now, Kurien is survived by his grandson, Siddharth, daughter Nirmala Kurien
and his wife.

RUSSIA DECLASSIFIED THE EXISTENCE RICHEST DIAMOND FIELD
Russian government on 18 September 2012 declassified its diamond reserves formed after a 7
kilometer wide asteroid stroked the graphite rich area of Russia, about 35 million years ago.
The most valuable secret of Russian Cold War was kept hidden from the rest of the world for
more than five decades. The reserve was discovered by the Russians during the mid 1960s.

The huge deposits of hard diamond, which can fulfill the demands of the world for next 3000
years was discovered in the Popigoi crater in East Siberia in an asteroid with diameter of 120
kilometers. Russian scientists from the Novosibirsk Institute of Geology and Mineralogy claimed
that the total quantity of the available diamond in the crater is more than 10 times of the total
reserve of diamond that the world have.

These diamonds are an ideal material for industrial use and are twice harder than that of the
technical diamonds generally used for industrial purposes. Declassification of the hidden
reserves can’t be used as jewellery item, so will not have any impact in the jewel making
industry of the world.

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INTERNATIONAL
USA SLAPPED SANCTIONS ON LASKAR-E-TOIBA’S EIGHT COMMANDERS
The United States of America on 31 August 2012 slapped sanctions on Pakistan-based terror
group Lashkar-e-Toiba's top eight commanders, including Mumbai terrorist attack mastermind
Sajid Mir and its founder Hafiz Saeed's son. LeT, despite being designated as a foreign terrorist
organisation in January 2002, continues to operate in Pakistan and throughout the region and
engage in terrorist activities worldwide. LeT conducted numerous terrorist acts against
Pakistani, Indian, Afghan and US interests and is responsible for the November 2008 Mumbai
attacks that killed more than 160 people, including six Americans, and the July 2006 Mumbai
train bombings that killed more than 180 people.

The US decision to designate the Lashkar-e-Toiba as a terrorist organisation again and ban it is
the vindication of the long standing Indian assessment of this particular group. The specific US
reference to the role of the Lashkar in the Mumbai attack of November 2008 will place greater
politico-diplomatic pressure on the Pakistani government to take action against Lashkar-e-
Toiba.

INDIA AND TAJIKISTAN SIGNED SIX AGREEMENTS
India and Tajikistan on 3 September 2012 signed six agreements in the field of sports, health,
culture, education, labour, textiles and energy.

India and the central Asian country of Tajikistan agreed to advance their ties to a strategic
partnership in order to impart greater strength to the relationship through all-round co-
operation and engagement.

The President of the Republic of Tajikistan, Mr. Emomali Rahmon, was on a State Visit to India
from 1 to 4 September 2012 at the invitation of the President of the Republic of India. This was
the fifth visit to India by President Mr. Emomali Rahmon.

The visiting dignitary also attended a business meeting organized jointly by ASSOCHAM, CII and
FICCI. Both the countries identified information technology, bio-technology, mining, tourism,
pharmaceuticals among other sectors as high potential area. After the agreements it was
decided that India will increase training slots for Tajikistan from 100 to 150 under India
Technology and Eco Training Programme.

SIXTH MEKONG–GANGA COOPERATION MEETING HELD IN NEW DELHI
Mekong–Ganga sixth Cooperation meeting was held in New Delhi on 3-4 September 2012.
Senior official meeting was held on September 3 whereas the Foreign Ministers meet was held
on 4 September 2012.

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The Mekong-Ganga Cooperation (MGC) was established on November 10, 2000 in Vientiane,
Lao Peoples Democratic Republic with a purpose of cooperation amongst India and the five
Mekong region countries - Cambodia, Lao Peoples Democratic Republic, Myanmar, Vietnam
and Thailand.

It was basically established to emphasize on four areas of cooperation, which are tourism,
culture, education, and transportation linkage, in order to build strong foundation for future
trade and investment cooperation among the region. This is the first time that the Mekong
Ganga Cooperation meeting was hosted by India. India had earlier chaired the 5th MGC
Ministerial Meeting on the sidelines of the ASEAN-India Meetings.

Five Mekong Ganga Cooperation ministerial meetings has held so far, In Vientiane, Lao Peoples
Democratic Rebuplic on November 10, 2000; In Hanoi, Vietnam on July 28, 2001; In Phnom
Penh, Cambodia June 20, 2003; In Cebu, Philippines on January 12, 2007 and in Manila,
Philippines on August 1, 2007.

SMITA SHAH, THE FIRST INDIAN AMERICAN AT
DNC PARLIAMENTARIAN
Smita Shah a close supporter of US President Barack Obama
became the first person from Indian-American origin to serve
as a parliamentarian for Democratic National Convention on 6
September 2012. As per the publically available documents,
Smita has been an applauded donor to the campaign of the
Democratic Party and Obama.

She is the Vice-Chair at Chicago Plan Commission. Smita heads
Spaan Tech, a unit that was described by The Chicago Tribune to be politically connected with
an information and management technology firm having four contracts of several million
dollars potentially in the year 2011. Being an engineer with license, she founded Spaan Tech in
the year 1998 and since then has been a great participant in the success story of the company.

The Chicago born is serving as a Chairman with Delhi–Chicago Sister Cities Committee. To
promote the exchange of values in relation to culture, social and economy in between the two
nations, she guided the Chicago’s Mayor Richard M Daley trade mission to India.

GAURAV SHUMSHER RANA BECAME NEPAL’S ARMY CHIEF
Gaurav Shumsher Rana an India-educated lieutenant general took over the position of Nepal’s
Army Chief, on 6 September 2012. He has served Nepal’s army for 39 years ever since his
recruitment in 1970. Rana’s appointment is a result of cabinet decision following a proposal
made by the ex-army chief Gen Chhatra Man Singh Gurung to the President Ram Baran Yadav,
as a successor to him.

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Rana, who did his graduation in military affairs from a Himachal Pradesh based, The Lawrence
School at Sanawar also completed his Officers’ Cadet Course Royal Military Academy,
Sandhurst, UK. Rana is a son of a former Major General Aditya Shumsher Rana of Nepal Army
and a great-grand son of the Prime Minister Chandra Shumsher Rana, who ruled the nation in
between 1901-1930.

US UPLIFTED TERRORIST DESIGNATION FROM NEPALI MAOISTS
The title of ‘terrorists’ assigned to Communist Party of Nepal (Maoists) by United States has
been uplifted on 6 September 2012. Maoist part was Specially Designated with the title of
Terrorist Entity under Executive Order 13224. US also withdrew its status as terrorist
organisation from the Terrorist Exclusion List (TEL) under the Immigration and Nationality Act.
This decision came in favor of the party after six years long wait, since the time it signed peace
treaty to make its entry to open politics.

US declared its decision on the day, when final phase of rehabilitation and integration process
of former Maoists combatants started. The state department stated that the party is no longer
involved in the activities that threaten the security of U.S. Foreign policy and its nationals and
today they are directly involved in governance of the Nation.

INDIA & PAKISTAN ISSUED JOINT STATEMENT ON SM KRISHNA'S VISIT
External Affairs of India, SM Krishna visited Pakistan from 7 to 9 September 2012 to review
progress in the Dialogue process. During his visit, India and Pakistan issued a joint statement.

THE HIGHLIGHTS OF THE STATEMENT ARE AS FOLLOWING
 Cross-LoC travel would be expanded on both sides of LoC to include visits for tourism
and religious pilgrimage.

 Tourist and Pilgrimage sites will be designated on both sides of the LoC and information
will be available with the designated authorities.

 Both sides will extend necessary assistance to
valid entry permit holders to cross the LoC in
emergency situation on crossing as well as non-
crossing days. This will be facilitated by
designated authorities.

 Improvement of roads and bridges for Cross-LoC
trade will be facilitated.

 Transportation links on operational crossing
points will be upgraded.

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 Both sides agreed to facilitate the exchange of business delegations.

 Besides, List of 21 products of permissible items for Cross-LoC trade will be respected by
both sides. It was agreed that the JWG (Joint Working Group) on Cross-LoC CBMs will
meet on a bi-annual basis to review existing arrangements and suggest additional CBMs
and measures for Cross-LoC travel and trade.

 India and Pakistan reviewed the status of bilateral relations and expressed satisfaction
on the holding of meetings on the issues of Counter-Terrorism (including progress on
Mumbai trial) and Narcotics Control; Humantarian issues; Commercial & Economic
cooperation; Wullar Barrage / Tulbul Navigation Project; Sir Creek; Siachen; Peace &
Security including CBMs; Jammu & Kashmir; and promotion of Friendly Exchanges.

 Both nations held substantive discussions on the whole range of issues within the
framework of the Dialogue process and expressed satisfaction over the progress
achieved since their last review meeting in July 2011.

 India and Pakistan reaffirmed the importance of carrying forward the dialogue process
with a view to resolving peacefully all outstanding issues through constructive and result
oriented engagement, and to establish friendly, cooperative and good neighborly
relations between Pakistan and India.

 The nations agreed that terrorism poses a continuing threat to peace and security. They
reaffirmed the strong commitment of the two countries to fight terrorism in an effective
and comprehensive manner so as to eliminate the scourge in all its forms and
manifestations.

 Both nations attached importance to promoting Peace and Security, including
Confidence Building Measures, between the two countries and agreed to convene
separate meetings of the Expert Groups on Nuclear and Conventional CBMs, in New
Delhi in the second half of December 2012.

 The nations held discussions on the issue of Jammu and Kashmir and agreed to the need
for continued discussions, in a purposeful and forward-looking manner, with a view to
finding a peaceful solution.

 The Ministers reviewed the existing Cross-LoC CBMs and acknowledged that the
ceasefire was holding since 2003. They also reviewed the implementation of the
decisions taken regarding travel and trade across the Line of Control (LoC) in their last
meeting in July 2011.

WORLDWIDE PROTESTS AGAINST THE FILM INNOCENCE OF MUSLIMS
Innocence of Muslims, written and produced by Sam Bacile turned up to be the reason for
protests across the Islamic nations. The movie has claimed lives of many including the US
Ambassador to Libiya, Chris Stevens. The film has seen protests in Libiya, Egypt, India and the

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Arabic speaking world. Producer of the film, Sam Bacile
with original name Nakoula Basseley Nakoula hired the
director of many soft-core porn flicks to do the job.
Some of the films of the Robert include The Happy
Hooker Goes Hollywood, Lost at War and Zombie Wars.

The reason of protests against the film is the insult of
Prophet Mohammad. The director of the film, who is an
Israeli-American, has portrayed Prophet to be a
philanderer, fool and a religious fake. There are scenes
in the movie that illustrates Prophet to be a fake person
along with scenes that have thrown light on the sexual acts of Prophet.

US DIPLOMAT TO LIBYA KILLED IN BENGHAZI ATTACK
United State ambassador to Libya, Chris Stevens with three other embassy staff were killed on 9
September 2012 after some fundamentalist mobs fumed and protesting over a film mocking
Prophet Mohammed, attacked Consulate building in Benghazi city of Libya.

The said event happened on the day which is also marked as the
11th anniversary of 9/11. The US ambassador to Libya, Chris
Stevens was the man who had helped Libyan opposition to
overthrow the Gaddafi regime. The protest came after 14 minute
trailer of the film posted on You Tube. The film named as
Innocence of Muslims, was directed and produced by an Israeli-
American real estate developer. It depicts the Prophet in poor
light.

In response to the incident, US President Barack Obama ordered increased security for US
diplomatic posts across the world and in his White House appearance he declared that the U.S.
would "work with the Libyan government to bring to justice those who killed Ambassador Chris
Stevens.

Chris Stevens is the second U.S. ambassador who had been killed during an outstation posting
since the death of Adolph Dubs in 1979 during his tenure in Afghanistan.

PIETA THE SOUTH KOREAN FILM WON GOLDEN LION VENICE TOP PRIZE
The Golden Lion Prize for best movie was given to the South Korean Movie, Pieta directed by
Kim Ki-duk at the 69th Venice Film Festival on 8 September 2012. The Master by Paul Thomas
Anderson walked off with two major awards namely, Special Jury Award and Best Actor for
Joaquin Phoenix.

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Pieta is the brutal story about a debt collector with a habit of crippling those, who were unable
to pay his debt. The brutality stops at a certain point of time, when he meets a woman who
claims to be his mother.

A MERCHANT VESSEL WAS ON FIRE NEAR MUMBAI COAST
M V Amsterdam a merchant vessel carrying hazardous and
inflammable materials was on fire at a distance of four
nautical miles from the Prongs Reef Lighthouse in south
Mumbai on 9 September 2012. To control the fire ICGS
Samudra Prahari, ICGS Subhadra Kumari Chouhan, ICGS
Sankalp and ICGS Sangram were sent on duty.

Out of 112 containers on the vessel, 24 containers were
carrying 45 tonnes of dangerous cargo that included turpentine petrol and inflammable gas.
Any short of oil spill was not witnessed. The crew members of the 54,405 vessel were removed
safely, without causing any damage.

TRILATERAL CONNECTIVITY PROJECT BY 2016
India, Myanmar and Thailand on 10 September 2012 reviewed the eagerly awaited trilateral
connectivity project and decided to make all efforts to implement this by 2016. This was done
at the meeting of the India-Myanmar-Thailand Joint Task Force, which met in New Delhi.

It was also agreed during the meeting that steps be initiated to address issues related to
harmonisation of customs and immigration procedures at border check-posts to enable
seamless movement of goods and people to realise the full potential of the trilateral highway.

INDIA EXTENDED A CREDIT OF $10 MILLION TO PALESTINE
Indian Prime Minister Manmohan Singh announced a support of $10 Million to Palestine during
a meet with Palestine’s National Authority President Mahmoud Abbas on 11 September 2012.
Palestinian president was here in Indian on a three day visit from 10 to 12 September 2012. Mr.
Singh also promised his Palestinian counterpart about India’s backing for their full and equal
membership of the U.N. the one that is threatened by US for veto.

During the meet, both the sides inked three different agreements comprising information and
communication technology, education and vocational training. The agreements were inked in
presence of the Indian external Affairs Minister S.M. Krishna and the member of executive
committee of Palestinian Liberation Organization (PLO) Dr. Saeb M.S. Erakat.

A MoU (Memorandum of Understanding) has been signed up to set up two schools at two
districts of Palestine namely Abu Dees and Asera Al Shamalyeh, which will be named on the
name of Pt. Jawaharlal Nehru, India’s first Prime Minister. Cost estimated for the construction
of the two schools is US$ 1.8 million and will help about eight hundred students of these

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districts to fetch quality education. The schools at Abu Dees and Asera Al Shamalyeh will be
constructed in an area of 1700 and 1900 square meter with 10 and 12 classes respectively.

In the second agreement, India will set a state-of-the-art information and communication
technology center in Palestine to create IT experts and generate opportunities of employment.
To make the center of Palestine self reliable, some of the IT professionals from Palestine will be
trained here in India to a higher level.

As per the third agreement, India will participate in providing vocational training to the women
and youth of Palestine. The training will include technical and machinery know-how to.

Prime Minister Mr. Singh stated that he supported the Palestinian cause to achieve
independent, sovereign and united state of Palestine and East Jerusalem as a capital to the
state.

MIT TOPPED ON THE QS WORLD UNIVERSITY RANKINGS CHART
Massachusetts Institute of Technology (MIT) topping the list of best universities issued by the
QS World University Rankings for 2011-2012 for the first time that there is a massive rise in the
tech-based universities of the world. Cambridge University that had managed to be at second
position in the list has seen a slight depression from its first slot, whereas Harvard University
was ranked to be at third position in the list.

University College, London (UCL), Oxford and Imperial are the ranked to be at fourth and fifth
position. Four universities from United Kingdom have taken the slot among six best universities
of the world. In the announced rankings, none of the Indian universities have been successful in
managing a rank even in the top hundred.

The published results are based on the QS Academic reputation survey in which 46,000
academics from across the world were engaged in identifying the leading universities of their
respective field.

INDIA AND SAUDI ARABIA HOLD THEIR FIRST TALK ON DEFENCE TIES
The Joint Committee on defence cooperation from Saudi Arabia and India met for creation of
defence ties on 11 September 2012. Decisions for this establishment of joint committees was
decided during the visit of Indian defence minister A.K. Antony to Saudi Arabia and his meet
with the Crown Prince and defence minister of Saudi Salman bin Abdul Aziz Al Saud in February
2012.

The 11 member team from Saudi Arabia was headed by the Chief of the Armed Forces
Operations of Saudi Arabia Maj Gen Suleiman Saleh Al-Khalifa. The Indian side was headed by
the Joint Secretary, Ministry of Defence. Both the sides met for formulation of the program that
can enhance the areas of cooperation between the defence establishments of two nations.

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This upswing in the relationship between India and Saudi Arabia has been in existence ever
since the visit of King Abdullah to New Delhi in the year 2006. The two nations inked several
agreements on certain factors like narcotics, energy, money laundering, counterterrorism and
extradition in the 2010.

INDIA AND PAKISTAN SIGNED MOU TO EXPAND BUSINESS BASE
The Islamabad Women’s Chamber of Commerce and Industry and the PHDCCI on 12 September
2012 signed a MoU. The objective of the MoU is to develop policies in trade, investment and
tourism between Pakistan and India and expand the existing business base and increase
understanding.

The two chambers agreed to establish and develop commercial links between the business
communities of both countries and their members. According to the MoU, both trade bodies
will endeavour to improve cooperation, assist trade missions, exchange information and find
methods for promoting trade. The two chambers will also organise seminars, exhibitions, trade
fairs and other promotional activities.

Both industry chambers have agreed on a work plan, which will cover information-sharing,
networking, exploring opportunities, problem solving and reaching international markets. The
IWCCI is the first women's chamber from Pakistan that has signed a MoU with a foreign
chamber.

HASSAN SHEIKH MOHAMUD IS THE NEW PRESIDENT OF SOMALIA
Hassan Sheikh Mohamud won the presidential elections of Somalia on 10 September 2012. He
won the election by gaining 190 votes to 79 in the second round of competition. Alliances were
formed between the Prime Minister Abdiweli Ali and Hassan Sheikh.

His election as a President is welcomed by many nations of the world and there are
expectations that Somalia will soon see a new dawn.

SHORT DESCRIPTION ABOUT HASSAN SHEIKH MOHAMUD
 He was born in Jalalaqsi on the Shebelle River of central Somalia in the year 1955
 He completed his education in India and United States
 Worked in the United Nations development program and World Bank as well as a
university lecturer
 In the year 2008, he worked with Somalia Civil Society
 In 2009 history of mediation in Somalia is a book written by him was published
 2011, founded the peace development party as its chairman

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HASSAN SHEIKH SOMALIAN PRESIDENT SURVIVED ASSASSINATION
After two days of his being appointed in the office, the Somalian President Hassan Sheikh
Mohamud survived an assassination attempted by the Shebab a group Islamic rebels from Al-
Qaeda, on 13 September 2012. At the time when the two bomb blasts happened the president
was meeting the Kenya’s Foreign Minister in Mogadishu hotel.

In this attack by the multiple suicide bombers the president remained unharmed. The report
presented by Houmed, spokesman for the African Union Mission in Somalia (Amisom) claimed
three deaths that include two Somali Troops and a Ugandan soldier.

FARIDA MALIK A GIRL OF INDIAN KAZAKH BECAME MISS ALMATY 2012
Student of Kazakhstan's Turan University Farida Malik a girl of Indian Kazakh origin won the title
of Miss Almaty 2012, on 14 September 2012. Farida, whose father is an Indian and mother a
Kazakh, received the beauty pageant of Miss Kazakhstan.

Executive Director of Miss Kazakhstan beauty pageant Sovet Seitov, stated that Farida is a girl
with outstanding appearance and the jury along with her liked her dance and moves.

Differences grew in between China and Japan ON Diayo Islands

Japan on 11 September 2012, announced that it has purchased the three uninhabited islands in
the Diayo Islands from its owner family based in Tokyo. Amidst, the growing tensions in relation
to the disputed East China Sea, China issued a warning to Japan on that it will take care of its
interests by taking necessary steps in relation to the three islands purchased by Japan in the
Diaoyo Islands. Two Marine Surveillance Ships were sent on patrol by China to the inhabited
islands for enforcement of Chinese control that heightened the possibilities of confrontation
with Japanese coastguards.

WHAT IS THE DISPUTE ALL ABOUT?
Senkaku or Diaoyu Islands are the uninhabited group of Islands in the East China Sea controlled
by Japan since 1895. These Islands lie in between the mainland of China, West of Okinawa
Island, Northeastern Taiwan and north of the South-western end of Ryukyu Islands. As per a
study conducted by the experts in the year 1968, it was discovered that these islands may have
oil reserves. After Japan’s surrender in the World War II, the control of the Islands went in the
hands of USA and controlled by them from 1945 to 1971. US returned these islands to Japan
after the Okinawa Reversion Treaty inked in between US and Japan in 1972. Whereas after the
reversal treaty, People’s Republic of China (PRC) and the Republic of China, Taiwan (ROC)
claims the discovery of the islands and their control over these from 14 th Century. Amidst the
complexity, ROC and PRC consider these Islands as the part of Taiwan as part of Yilan
Countries, Toucheng Township. Japan does not consider Taiwan as a sovereign state and hence
does not regard the claims of Taiwan over the group of Islands.

Page 26


DEFENCE MINISTER, A.K. ANTONY OPENED AN ARMY HOSPITAL IN MALE
On his three day visit from 15 September 2012 to 17 September 2012 to Maldives the Defence
Minister of India A.K. Antony opened Maldives National Defence Force (MNDF) hospital
SENAHIYA at Male on 16 September 2012. The hospital that was developed with Indian
assistance is an example of a shining collaboration and cooperation model in between the two
countries.

India has also provided the hospital with 25 bed state-of-
the-art medical equipment and a team of highly qualified
medical experts. This team will be functional as a unit that
will take care of fine functioning and smooth running of the
hospital. The Defence Minister of India also participated in
the foundation stone laying ceremony of the Maldivian
National Defence Force’s training academy.

The Defence Minister of Maldives Mohamed Nazim thanked
India for its assistance in the collateral development of the nation and hoped for strengthening
of the bond between the two countries under every circumstance. He also declared that
Maldives will stand by the side of India for assurance of the maritime security in the sensitive
regions of the Indian Ocean.

CHINA SIGNED 16 NEW AGREEMENTS WITH SRI LANKA
China on 16 September 2012 signed 16 major agreements with Sri Lanka in Colombo on a range
of issues, from visa exemption and marine development to economic and technology
cooperation. China also promised to expand investment and increase imports from Sri Lanka.
China and Sri Lanka agreed that holders of diplomatic and service passports of the other nation
will be exempt from visa requirements. China-Sri Lanka bilateral trade volume reached 3.14
billion dollars in 2011.

After the civil war, Sri Lanka needs to rebuild its infrastructure, which offers great opportunities
for China, while China also seeks to increase overseas investment.

INDIA OFFERED TELECOM SUPPORT TO TURKMENISTAN
India has assured Turkmenistan of all cooperation in Information and Communication
technology (ICT) for the mutual benefit of both the countries.

It was decided in the inaugural session of TurkmenTEL 2012 at the Turkmenistan capital
Ashgabat on 17 September 2012 by the Minister for Communications & IT and HRD, Kapil Sibal.

Recalling the historical ties between India and Turkmenistan, it was emphasized that the need
for regional cooperation to uplift the social and economic status of the people in the region is

Page 27


uttermost important. Kapil Sibal shared the success story of Indian Telecom Sector and gave an
overview of the spectrum of policy initiatives in India’s National Telecom Policy 2012.

India could extend cooperation to Turkmenistan in the fields of e-health, e-education and e-
governance services. Turkmenistan can be connected to Indian Universities through National
Knowledge Network and students sitting in Turkmenistan can directly be part of academic
sessions in various disciplines in India.

Turkmenistan Minister and his delegation was invited to participate in India Telecom 2012 in
Delhi, from 13 to 15 December 2012, as the event could be an excellent platform for further
strengthening mutual cooperation and for promoting ICT and its eco system in the region.

US & JAPAN AGREED TO DEPLOY ADVANCED MISSILE DEFENSE SYSTEM
The United States and Japan on 17 September 2012, announced an agreement to set up second
advanced missile defense radar on Japanese province. It is an effort which is distinctively
designed to counter the ballistic missile threat from North Korea.

The radar which is named as X-band radar is meant to protect Japan as well as the U.S.
homeland. The United States and its allies in the region have expressed growing concern about
North Korea's missile tests and nuclear arms programs. Despite warnings by the international
community, Pyongyang fired a rocket in April, saying it was meant to launch an experimental
satellite. But it was generally believed the launch was a missile test.

This deal came when China and Japan is on dispute for an uninhabited, resource-rich island
chain known as Diaoyu in China and Senkaku in Japan. The joint missile defense system
encourages Japan to keep a forceful position in the Diaoyu Islands dispute, which is sending
China a very negative message.

PAKISTAN TEST FIRED CRUISE MISSILE, BABUR
Pakistan successfully test fired nuclear-capable Babur cruise missile on 17 September 2012 with
a range of 700 km (435 miles). It is a low flying, terrain-hugging missile that can be used against
targets at land and sea with pin-point accuracy.

The missile was launched from a multi-tube missile launch vehicle that extensively enhances
the targeting and deployment options of the Babur system. The missile is designed to avoid
radar detection and penetrate enemy air defenses.

Pakistan has already conducted the tests of a wide range of nuclear-capable missiles this year.
Serial production of the Babur was started in October 2005. The missile was named after the
first Mughal Emperor Zahir ud-Din Babur and is also known by Hatf VII. It is the first land attack
cruise missile to be developed by Pakistan.

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MAJEED BECAME CHIEF MINISTER OF EASTERN PROVINCE, SRI LANKA
United People’s Freedom Alliance’s former minister and provincial councilor Najeeb A Majeed
became the new Chief Minister of the Eastern Province of Sri Lanka, on 18 September 2012.
The party won 12 seats with 2 additional seats from the 37-member province and was
supported by the Sri Lanka Muslim Congress (SLMC). At national level, SLMC is a part of UPFA
and it contested the elections separately to garner share in votes.

SALMAN RUSHDIE RELEASED HIS BOOK JOSEPH ANTON
Joseph Anton, the 633 page book depicts a memoir of Salman Rushdie during his 10 years long
run to protect himself from the Fatwa issued by his name was released on 18 September 2012.

Salman Rushdie’s new book reveals his life, at the time when he was issued an Iranian fatwa
that ordered his death for the publication of The Satanic Verses in 1988. In the book, Salman
Rushdie has characterized himself as Joseph Anton and the name is the combination of the first
names of his favourite writers Joseph Conrad and Anton Chekhov.

INDIA AND NEPAL SIGNED MOU FOR CONSTRUCTING SCHOOL BUILDING
Indian Embassy in Kathmandu and Nepalese authorities signed an MoU on 19 September 2012
for granting the amount to Shri Mahendra Higher Secondary School in Achham district under
Indian-Nepal Economic Cooperation Programme.

The proposed building will provide better educational opportunity to over 1300 students, about
half of whom are girls. Besides, India has gifted two ambulances to health care facilities in the
district.

INDIA AND BURUNDI SIGNED 3 MAJOR AGREEMENTS
President of the Republic of Burundi visited India from 17 to 19 September 2012. During this
visit, India and Burundi signed three agreements- (i) Exchange Programme for Cooperation in
the field of Education, (ii) Memorandum of Understanding on Cooperation in the field of Rural
Development and (iii) Memorandum of Understanding on Cooperation in the field of Health
and Medicine. Besides, India also announced a Line of Credit of 42.38 million US dollars for
Farm Mechanisation and Integrated Food Processing Complex in Burundi. India and Burundi
issued a joint statement on that occasion.

THE MAJOR HIGHLIGHTS OF THE JOINT STATEMENT ARE
 India and Burundi agreed to further enhance the bilateral cooperation in view of the
considerable untapped potential.
 Burundi thanked India for approval of a concessional line of credit of 80 million US
dollars for the Kabu – 16 Hydro-electric projects.

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 Both nations agreed to continue strengthening cooperation in the areas of economy,
trade and investment, finance, human resource development, culture, etc. while striving
to expand cooperation into other potential areas such as agriculture, food processing,
ICT, science & technology, health, mining etc.
 Burundi conveyed its support for India’s candidature for Permanent Membership in an
expanded United Nations Security Council.

INDIA SIGNED A MEMORANDUM OF UNDERSTANDING WITH EGYPT
India and Egypt on 18 September 2012 signed a Memorandum of Understanding (MOU) in New
Delhi to establish an institutional framework for their ongoing cooperation in the field of
election management and administration.

The MOU was signed by the Chief Election Commissioner of India, V.S. Sampath and the
Secretary General of the Supreme Presidential Election Committee of Egypt, Justice Hatem
Bagato.

MoU was made so that it can facilitate sharing of best practices, skills and experiences between
the two institutions for mutual benefit. MoU is an extremely suitable mechanism for
strengthening and carrying forward mutual collaboration in electoral management and
administration. Election Commission of India has so far signed thirteen MOUs with Election
Management Bodies and international organizations across the world.

India and Egypt are already collaborating in the areas of Electronic Voting, Voters Education and
Election Tracking Technology.

THE MAJOR AIMS OF MEMORANDUM OF UNDERSTANDING (MOU) ARE
 Promotion of exchanges of knowledge and experience in the field of organizational
and technical development, with a view to strengthening the administration of
electoral processes.
 Exchange of information, material, expertise and technical knowhow relating to
electoral processes and systems; training of personnel and development of human
resources.
 Organizational development and capacity building.

HADIA TAJIK APPOINTED AS NORWEGIAN CULTURAL MINISTER
Hadia Tajik, a 29 year old woman of Pakistani origin was appointed as Norwegian Cultural
Minister on 24 September 2012. Norwegian Prime Minister Jens Stoltenberg appointed her to

Page 30


this post during the cabinet reshuffle activity. She is the youngest minister and first Muslim in
the Norwegian Political history.

HADIA TAJIK
The 29 year old has degrees in Journalism and Law and has been Norway Labour Parties career
politician. She had also served to Minister of Justice, Knut Storberget between 2008 and 2009
as an advisor. In the year 2009, she was elected as an MP from Oslo for Norwegian Labour
Party.

CHINA INCLUDED LIAONING AS ITS FIRST AIRCRAFT CARRIER
China on 25 September 2012 launched its first aircraft carrier giving a push to its fast expanding
navy's blue-water capability beyond its territorial waters.

The aircraft carrier is a former Soviet ship with a capacity of 60000 tonne that is brought from
Ukraine and later renovated in China. The carrier is capable of accommodating 33 fixed wing
aircraft. It is named as 'Liaoning', after a Chinese province liberated from Japanese occupation
in 1945.

The aircraft carrier came amid high end dispute between China and Japan on East China Sea
islands, called Senkaku in Japan and Diaoyu in China. The aircraft carrier, which is formerly
known as the Soviet ship Varyag, underwent about seven years of refitting efforts to install
engines, weapons, as well as a year-long sea trial.

With this advancement China has become the tenth country in the world and the last among
the five permanent members of the UN Security Council to have an aircraft carrier in active
service.

WHAT IS AIR CRAFT CARRIER?
An aircraft carrier is a warship which is a designed with a mission of positioning and recovering
aircraft, acting as a seagoing airbase. It allows a naval force to project air power worldwide
without having to depend on local bases for staging aircraft operations. It is extremely
expensive to built and important to protect.

Among the ten nations that possess an aircraft carrier, six have only one. Twenty-one aircraft
carriers are currently active throughout the world with the U.S. Navy operating 11.

INDIA MALAYSIA TO ACHIEVE A TARGET TRADE OF USD 15 MILLION
India is going to expand bilateral trade with Malaysia to $15 billion by 2013 from $13 billion in
2011-12 as per the discussion in India- Malaysia CEO Forum.

Page 31


It was informed by Union Minister of Commerce, Industry and Textiles, Anand Shrama that
India’s bilateral trade with Malaysia stood at nearly $13 billion in 2011-12 registering a growth
of 34% over the previous year.

In his visit to Malaysia in July 2010 and February 2011 Anand Sharma analysed that it was
required an investment from Khazanah Nasional Berhad (Government of Malaysia`s strategic
investment fund) into Indian infrastructure sector through a collaborative venture with IDFC.

The Union minister, Anand Sharma has identified priority sectors of engagement including
Roads & highways, Railways, Airports, IT &ITES, Biotechnology, Tourism, Health Services and JV
projects in third countries. Subsequently, the two countries have entered into a Comprehensive
Economic Cooperation Agreement which was signed in February 2011. The signing of this
Agreement has provided considerable momentum to trade and investment on both sides.

US, INDIA AND AFGHANISTAN HELD ITS FIRST TRILATERAL DISCUSSION
US, India and Afghanistan held its first ever trilateral meeting on 25 September 2012. The major
point of discussion was on the situation in Afghanistan along with the issue of terrorism.

The discussion marks the strengthening of Afghanistan relation with India and US who are
totally behind the vision of a secure, peaceful, democratic and prosperous Afghanistan living in
peace, security, friendship and cooperation with its region and the wider world.

The meeting was held at the Afghan Mission in New York and was attended by Joint Secretary
(Pakistan/Afghanistan/Iran) Y K Sinha and Joint Secretary (America) Jawed Ashraf from the
Indian side, Afghan Deputy Foreign Minister Jawed Ludin, US Special Representative for
Afghanistan and Pakistan Ambassador Marc Grossman and Assistant Secretary for South and
Central Asian Affairs Robert Blake.

The discussions also mark the beginning of a series of consultations among the three
governments, who share common interests across South and Central Asia and who have
pledged to work together on common challenges and opportunities including combating
terrorism and violent extremism, reviewing cultural exchanges and increasing regional trade,
investment and economic integration.

INTERNATIONAL CURRENT AFFAIRS QUIZ

1. Name the country in which 16th NAM (Non Aligned Movement) summit was held.

(a) Iran

(b) Iraq

(c) Sri Lanka

(d) Bangladesh

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Answer (a) Iran

2. With which country, India discussed border security and bilateral defence ties for
expanding defence cooperation and to resume joint military exercises?

(a) US

(b) Japan

(c) China

(d) Bangladesh

Answer (c) China

3. The sixth Mekong Ganga cooperation meeting, focusing on four areas of cooperation,
i.e., tourism, culture, education, and transportation linkage, to build strong foundation
for future trade and investment cooperation among India and five Mekong region
countries was held first time in which place in India?

(a) Mumbai

(b) New Delhi

(c) Bangalore

(d) Chennai

Answer (b) NewDelhi

4. Which of the two countries on 3 September 2012 went on strategic partnership and
signed six agreements in the field of sports, health, culture, education, labour, textiles
and energy?

(a) India and Tajikistan

(b) India and Afghanistan

(c) India and Iran

(d) India and Bangladesh

Answer (a) India and Tajikistan

5. Name the country which has uplifted the title of ‘terrorists’ assigned to Communist
Party of Nepal (Maoists) entitled under ‘Executive Order 13224’?

(a) United states

(b) India

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(c) Bangladesh

(d) Srilanka

Answer (a) United States

6. Indian Prime Minister Manmohan Singh announced a support of how much amount to
Palestine during a meet with Palestine’s National Authority President Mahmoud Abbas
on 11 September 2012?

(a) $15 Million

(b) $20 Million

(c) $10 Million

(d) $5 Million

Answer (c) $ 10 Million

7. What is the name of the island in the East China Sea which has become the point of
dispute between China and Japan?

(a) Honshu

(b) Shikuko

(c) Senkako

(d) Shamian

Answer (c) Senkako

8. Which two countries along with India decided to implement Trilateral Connectivity
project by 2016

(a) Myanmar and Thailand

(b) Thailand and Malaysia

(c) Malaysia and Vietnam

(d) Bangladesh and Myanmar

Answer (a) Myanmar and Thailand

9. Name the United state ambassador to Libya, who was killed on 9 September 2012 after
some fundamentalist mobs fumed and protesting over a film mocking Prophet
Mohammed, attacked Consulate building in Benghazi city of Libya.

(a) Chris Stevens

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(b) Gene A. Cretz

(c) Henry Serrano

(d) Joseph Palmer

Answer (a) Chris Stevens

10. According to the Child Mortality Estimates Report 2012 published on 12 September
2012, by United Nations Children’s Fund (UNICEF), which country was placed at the top
position in the chart of 10 countries that topped on the chart?

(a) Pakistan

(b) India

(c) China

(d) Nigeria

Answer (b) India

11. Name the United People’s Freedom Alliance’s former minister and provincial councilor
who became the new Chief Minister of the Eastern Province of Sri Lanka, on 18
September 2012

(a) Najeeb A Majeed

(b) Sivanesathurai Chandrakanthan

(c) Sarath Ekanayake

(d) S. M. Ranjith

Answer (a) Najeeb A Majeed

12. Name the Personality who was appointed to be the country director for India by World
Bank on 10 September 2012.

(a) Onno Ruhl

(b) Kaushik basu

(c) Vinod Thomas

(d) Jim Yong kim

Answer (a) Onno Ruhl

13. Name the country with which India Signed three agreements on -17 September 2012
with its president visit on (i) Exchange Programme for Cooperation in the field of

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Education, (ii) Memorandum of Understanding on Cooperation in the field of Rural
Development and (iii) Memorandum of Understanding on Cooperation in the field of
Health and Medicine.

(a) Afghanistan

(b) Burundi

(c) Turkey

(d) Ceylon

Answer (b) Burundi

14. China launched its first aircraft carrier giving a push to its fast expanding navy's blue-
water capability beyond its territorial waters. What is the name of that aircraft carrier?

(a) Liaoning

(b) Varyag

(c) MiG- 9

(d) JH- 7

Answer (a) Liaoning

15. Name the women of Pakistani origin was appointed as Norwegian Cultural Minister on
24 September 2012.

(a) Hadia Tajik

(b) Hina Rabbani Khar

(c) Tehmina Durrani

(d) Fauzia Wahab

Answer (a) Hadia Tajik

Page 36


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WORLD DAIRY
1 September 2012

1. USA slapped Sanctions on Laskar-e-Toiba’s Top Eight Commanders

2. India established Diplomatic Relations with Niue

3 September 2012

1. India and Tajikistan went ahead on strategic partnership and signed six agreements

4 September 2012

1. Sixth Mekong–Ganga Cooperation meeting held in New Delhi

2. India, China discussed Border security and Bilateral Defence ties

6 September 2012

1. US uplifted ‘terrorist’ designation from Nepali Maoists

9 September 2012

1. India and Pakistan issued a joint statement at the end of the SM Krishna's Visit

2. US Diplomat to Libya killed in Benghazi Attack

10 September 2012

1. India, Myanmar and Thailand decided to implement Trilateral Connectivity Project by
2016

11 September 2012

1. India extended a credit of $10 Million aid to Palestine in a gesture of support

2. Differences grew in between China and Japan over the disputed Diayo Islands

3. India and Saudi Arabia held their first talk on defence ties

12 September 2012

1. The Islamabad Women’s Chamber of Commerce and Industry and the PHDCCI signed
MoU

Page 38


2. India topped the chart of registered largest number of under five deaths in 2011

17 September 2012

1. Pakistan test fired cruise missile, Babur

2. China signed 16 new Agreements with Sri Lanka

3. US and Japan agreed to deploy advanced missile defense system

4. China signed 16 new Agreements with Sri Lanka

18 September 2012

1. India signed a memorandum of understanding with Egypt

2. New Nuclear Safety Agency launched in Japan

3. Najeeb A Majeed became the new Chief Minister of Sri Lanka's, Eastern Province

19 September 2012

1. India and Burundi signed 3 Major Agreements and issued a Joint Statement

2. India and Nepal signed MoU for constructing School Building

24 September 2012

1. Pakistani-origin women appointed as Norwegian Cultural Minister

25 September 2012

1. China included Liaoning as its first Aircraft Carrier

2. US, India and Afghanistan held its First Trilateral Discussion

26 September 2012

1. India Malaysia to achieve a target trade of USD 15 Million

Page 39


Page 40


ECONOMY
GAAR REPORT SUBMITTED BY THE SHOME COMMITTEE
The GAAR report was submitted on 1 September 2012 to the finance minister of India by the
Shome Committee constituted by the Central Board of Direct Taxes, after the approval of Prime
Minister of India. The committee in its report has tried to create a balance in between the
investors being invited to the country and protection of the tax base from tax avoidance and
evasion, using aggressive tax planning. The major findings of the GAAR’s committee to create a
balance in between the investors and chances of tax avoidance and evasion that includes:

THE MAJOR FINDINGS OF THE GAAR’S COMMITTEE
 Tax Evasion, Tax Mitigation and Tax Avoidance

 Overcharging Principle Applicability of GAAR

 Monetary Threshold

 Arm’s Length Test

 Test to Misuse or Abuse the Provisions of Act

 Factors for determination of Commercial Substance

 Grandfathering of existing Investments

 GAAR will not override the CBDT circular 789 of 2000 with respect to the tax-treaty in
between India and Mauritius

 GAAR will not be applicable at places where so ever anti-avoidance provisions are in
existence in the treaty of tax and any type of anti-avoidance rule exists in the Act

 Impermissible Avoidance arrangements

 Tax abolition in cases of gains that rises out by the transfer of listed securities

 Foreign Institutional Investors

 Corresponding adjustments

 Implementation of the Onus on the revenue authority

 Tax Withholding

 Definition of the term Connected Person

Page 41

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