Current Affairs of 4 October 2015


1. Manohar returns as BCCI President, Srinivasan era ends
Lawyer-turned-administrator Shashank Manohar was today elected unopposed as the BCCI President ushering in a new era in the Cricket Board and ending N Srinivasan’s clout in the cash-rich body.
Manohar took over the post at the Board’s Special General meeting which lasted less than half an hour here. He was the only candidate left in the fray for the election in which the deadline for filing nomination ended 
The election was necessitated by the sudden demise of Jagmohan Dalmiya, who had a short term of seven months after his election in March this year. Dalmiya was made the interim President when Srinivasan “stepped aside” in the wake of revelations that his son-in-law was involved in betting during the 2013 IPL season.
His anointment also means that Srinivasan now has little chance of coming back into the BCCI fold till 2017 when the Vidarbha man’s tenure ends.


2. RBI actions to bring FPI funds of Rs. 48,000 cr/year in govt bonds
A 50 basis points repo rate cut and slew of policy measures announced by the Reserve Bank in the recent monetary policy review could attract an average annual flow of Rs. 48,000 crore in government bonds from overseas investors for the next few years, says a report.
In a surprise move, the RBI last week reduced repo rate by 50 basis points to 6.75 per cent from 7.25 per cent.
According to domestic rating agency India Ratings, RBI’s front loaded monetary action and accompanying policy changes have a significant positives for fixed income and the rupee.
“In our view, average annual foreign portfolio investments (FPIs) in government bonds alone would be Rs. 48,000 crore (or $7.3 billion at the current exchange rate) for the coming two and half years,” the report said.

3. Indian Navy's INS Trikand on a three day visit to Istanbul 
As a part of Indian Navy's overseas deployment to West Asia, Africa and Europe, INS Trikand  entered Istanbul for a three day visit. During its stay in Istanbul, the ship will engage extensively with the Turkish Navy 
According to Ministry of Defence, the current visit seeks to underscore India's peaceful presence and solidarity with friendly countries and to strengthen the existing bonds between India and Turkey. Bilateral naval relations are expected to strengthen further due to the planned visit of a Turkish warship for the International Fleet Review at Visakhapatnam, India in Feb 2016. 
INS Trikand, commanded by Captain Vinay Kalia, is a state-of-the-art warship of the Indian Navy equipped with a versatile range of weapons and sensors capable of addressing threats in all the three dimensions - air, surface and sub-surface. The visiting ship is part of the Indian Navy's Western Fleet and is under the operational command of the Flag Officer Commanding-in-Chief, Western Naval Command, with its Headquarters at Mumbai. 

4. Adani Ports inks MoU with L&T for Kattupalli Port Operations
Adani Ports and Special Economic Zone (APSEZ) has inked a Memorandum of Understanding (MoU) with Larsen & Toubro (L&T) to oversee operations of Kattupalli Port in Tamil Nadu. The non-binding MoU will empower L&T Shipbuilding to manage and operate the port with an effect from October 2015. Under this pact APSEZ will be responsible for EBIDTA gains and losses arising from the port operation for this period. APSEZ is part of the Adani group led by Gautum Adani is one of India’s leading business houses with a revenue of over 10 billion dollars. Presently the subsidiary company operates ports in Mundra, Tuna-Tekra (Kandla), Hazira and Dahej in Gujarat. It also operates, Dhamra in Odisha and specialised coal handling facilities in Mormugao in Goa and Visakhapatnam in Andhra Pradesh. Earlier in June 2015, APSEZ received Kerala government’s nod for developing the 4,089-crore rupees Vizhinjam International Deepwater Seaport project with 4-year timeframe for commissioning. Vizhinjam port port is strategically located very close to international shipping route and has the potential to become the biggest trans-shipment hub in the region. It will help in cost saving to Indian trade as the boxes can be trans-shipped at a lower cost.

5. Flipkart appoints Sriram Venkataraman as CFO for commerce platform
Homegrown e-commerce giant Flipkart announced appointment of Sriram Venkataraman, as the CFO for its commerce platform and Pramod Jain as Vice President and Head of Taxation.
Mr.Venkataraman, as the finance lead for the commerce platform (CP), will head all aspects of the finance function for CP and will be responsible to drive the CP business to deliver its ambitions, the company said in a release.
He has over 19 years of experience in Unilever, handling a variety of leadership and operational responsibilities. His last role was Head of Sales Finance in Hindustan Unilever.
On the other hand, Pramod Jain in his role as Vice President and Head of Taxation will add his might to create a strong charter for the taxation team and play a key role in taking the team’s engagement with revenue and government authorities to the next level, Flipkart said.

6. Parliamentary Panel on Lokpal Gets Third Extension
The deadline for a Parliamentary panel examining the bill on anti-corruption watchdog Lokpal for submission of its report has been extended for a third time till November 15.
The 31-member Parliamentary Standing Committee on Personnel, Public Grievances, Law and Justice, headed by Congress MP E M Sudarsana Natchiappan, is examining the Lokpal and Lokayuktas and Other Related Law (Amendment) Bill, 2014.
The amendment bill was introduced in the Lok Sabha on December 18 last year after which it was referred to the Committee on December 22. It was asked to submit its report by March 25 this year.
The panel had got first extension till July 30 to complete its task. Later, it had sought more time and got another extension which ended on September 30.
The panel has to submit its report to Rajya Sabha Chairman Hamid Ansari.
The Lokpal Act, 2013 provides for establishment of the anti-graft watchdog Lokpal for the Union and Lokayuktas for the states to inquire into corruption complaints against public servants.

7. Odisha Launches Citizen Portal, People Can File FIR From Home
The citizens of Odisha can now lodge their complaints with police directly through the citizen portal, a facility launched by Chief Minister Naveen Patnaik in Bhubaneswar .
"There is no need to visit any police station or higher police officers. The citizens can can log on directly to the citizen portal and submit on-line complaints to the police stations through internet," Mr Patnaik said while thanking the state police for its people-friendly initiative.
The services which can be afield through the citizen portal are issuance of character certificates, permission for taking out processions and rallies, issuance of FIR copies, permission for holding events and performances, permission for holding protests and strikes.
Tenants verification, employees verification, registration of missing permissions and registration of lost property can also be done through the portal.
The people can also track the status of their complaints registered by them on the citizen portal, Mr Patnaik said adding that this would provide a better platform for tracking criminals and larger crimes.
The users can access www.citizenportal-op.gov.in and get themselves registered to avail the services.

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