Current Affairs of 11 November 2014

1. Modi arrives in Myanmar for ASEAN, East Asia summits
 Prime Minister Narendra Modi arrived in Naypyidaw, the capital of Myanmar,
on Tuesday to attend the ASEAN and the East Asia summits on the first leg of his three-nation tour that will also take him to Australia and Fiji.
Mr. Modi arrived by a special Air India plane, starting his 10—day tour during which he will also attend the G—20 meet in Brisbane, Australia.
Asserting that ASEAN is at the core of India’s ‘Act East’ policy, Prime Minister Narendra Modi on Tuesday headed to Myanmar to attend the Summit with the 10-nation grouping and the East Asia Summit.

Modi will be also participating in the 18-nation East Asia Summit (EAS) on Thursday before leaving for Brisbane to attend the G20 Summit.
 The EAS comprises 10 ASEAN nations, Australia, China, India, Japan, New Zealand, South Korea, Russia and the US.
On the sidelines of the international summits in Myanmar, Modi is slated to meet Russian Prime Minister Dmitry Medvedev, South Korean President Park Geun-hye and Singapore President Tony Tan, besides the host President Thein Sein.

2. Railways earnings up by over 12% during April-Oct
 Railways have earned Rs. 86,595.04 crore during April-October 2014 as compared to Rs. 77,273.88 crore during the same period last year, registering an increase of 12.06 per cent.
The total earnings from goods during April-October period were Rs. 57,646.68 crore as against Rs. 51,877.98 crore during the same period last year, registering a growth of 11.12 per cent.
The earnings from passengers during April-October 2014 were Rs. 24,716.97 crore compared to Rs. 21,247.64 crore during the same period last year, showing an increase of 16.33 per cent.

3. Tendulkar’s book to be published in regional languages
 Due to enormous demand, the publishers of Sachin Tendulkar’s record-breaking autobiography, Playing It My Way has decided to translate the book in Indian regional languages.
Hachette India will be co-publishing Tendulkar’s autobiography after being flooded with interest from several publishers.
Poulomi Chatterjee, Publisher, Hachette India, said, “We have had an overwhelming response to the launch of this bestseller and are in talks with several Indian language publishers. We look forward to co-publishing this bestseller in Marathi, Hindi, Gujarati, Malayalam, Assamese, Telugu and Bengali. We will be finalising our publishing partnerships over the next few weeks for a summer 2015 release of these Indian language editions.”
The book, which was released on November 6, has broken all records for an adult hardback on order subscriptions across both fiction and non-fiction categories.
“The book has topped 200,000 copies in orders, already pulling ahead of both pre-order and lifetime sales of the top hardbacks — Dan Brown’s Inferno, Walter Issacson’s Steve Jobs and J K Rowling’s Casual Vacancy,” Hachette India in a release.

4. Rajiv Mehrishi appointed Finance Secretary
 Economic Affairs Secretary Rajiv Mehrishi was on Tuesday designated as Finance Secretary.
The Appointments Committee of Cabinet (ACC) has approved that Mehrishi, a 1978 batch IAS officer of Rajasthan cadre, may be designated as Finance Secretary, said an order issued by the Department of Personnel and Training (DoPT).
Mr. Mehrishi was last month appointed Secretary in Department of Economic Affairs in place of his batchmate Arvind Mayaram, who was first shifted to Tourism and then to Minority Affairs Ministry.

5. India-Israel joint venture missile LRSAM successfully test fired in Israel
Long Range Surface-to-Air Missile (LRSAM) or Barak 8 missile, the missile co-developed by India and Israel, was successfully test-fired on 10 November 2014 from a range in Israel.
The missile successfully intercepted a manoeuvring air-breathing target mimicking an attacking combat aircraft

6. China lifted ban on Social networking websites at APEC Summit
China on 6 November 2014 lifted ban on social networking websites like Face book, Twitter for reporters. This is the first time China has loosened its internet restrictions for a major international event.
China announced to lift the ban on the social networking sites at the Asia-Pacific Economic Cooperation (APEC) Summit in Beijing.

7. RBI tightened NBFC norms by requiring them to have stronger capital base
Reserve Bank of India on 10 November 2014 tightened its norms for Non-Banking Financial Companies (NBFCs) by requiring them to have a much stronger capital base. Failing to which, the NBFCs would lose their CoR (Certificate of Registration).
Revised norms for NBFCs
As per the new set of norms, the NBFCs would be subjected to a stronger set of rules and regulations if they raise public deposits.
These set of norms also mandate a huge eight-fold increase in the minimum Net Owned Fund (NOF) requirement from 25 lakh rupees to 2 crore rupees by 2017 in a phased manner. By March 2016, the NBFCs will have to raise the NOF to 1 crore rupees. 

8. Jawed Usmani appointed as State Chief Information Commissioner in UP
Jawed Usmani appointed as State Chief Information Commissioner (SCIC) in Uttar Pradesh (UP). Governor of UP Ram Naik on 10 November 2014 approved appointment of Jawed Usmani as CIC.
A three-member committee, headed by Chief Minister Akhilesh Yadav selected the name of Usmani and forwarded it to the Governor.  Leader of Opposition in Assembly Swami Prasad Maurya and Leader of the House in Council Ahmad Hasan are other members of the committee.
At present, he is the chairman of Uttar Pradesh Board of Revenue.

9. Google signs 60-year, $1-billion NASA lease
Google has signed a long-term lease for part of a historic Navy air base, where it plans to renovate three massive hangars and use them for projects involving aviation, space exploration and robotics.
The giant Internet company will pay $1.16 billion in rent over 60 years for the property, which also includes a working air field, golf course and other buildings. The 1,000-acre (400-hectare) site is part of the former Moffett Field Naval Air Station on the San Francisco Peninsula.
Google plans to invest more than $200 million to refurbish the hangars and add other improvements, including a museum or educational facility that will showcase the history of Moffett and Silicon Valley, according to a NASA statement.
The agency said a Google subsidiary called Planetary Ventures LLC will use the hangars for “research, development, assembly and testing in the areas of space exploration, aviation, rover/robotics and other emerging technologies.”
1. Modi arrives in Myanmar for ASEAN, East Asia summits
 Prime Minister Narendra Modi arrived in Naypyidaw, the capital of Myanmar,
on Tuesday to attend the ASEAN and the East Asia summits on the first leg of his three-nation tour that will also take him to Australia and Fiji.
Mr. Modi arrived by a special Air India plane, starting his 10—day tour during which he will also attend the G—20 meet in Brisbane, Australia.
Asserting that ASEAN is at the core of India’s ‘Act East’ policy, Prime Minister Narendra Modi on Tuesday headed to Myanmar to attend the Summit with the 10-nation grouping and the East Asia Summit.

Modi will be also participating in the 18-nation East Asia Summit (EAS) on Thursday before leaving for Brisbane to attend the G20 Summit.
 The EAS comprises 10 ASEAN nations, Australia, China, India, Japan, New Zealand, South Korea, Russia and the US.
On the sidelines of the international summits in Myanmar, Modi is slated to meet Russian Prime Minister Dmitry Medvedev, South Korean President Park Geun-hye and Singapore President Tony Tan, besides the host President Thein Sein.

2. Railways earnings up by over 12% during April-Oct
 Railways have earned Rs. 86,595.04 crore during April-October 2014 as compared to Rs. 77,273.88 crore during the same period last year, registering an increase of 12.06 per cent.
The total earnings from goods during April-October period were Rs. 57,646.68 crore as against Rs. 51,877.98 crore during the same period last year, registering a growth of 11.12 per cent.
The earnings from passengers during April-October 2014 were Rs. 24,716.97 crore compared to Rs. 21,247.64 crore during the same period last year, showing an increase of 16.33 per cent.

3. Tendulkar’s book to be published in regional languages
 Due to enormous demand, the publishers of Sachin Tendulkar’s record-breaking autobiography, Playing It My Way has decided to translate the book in Indian regional languages.
Hachette India will be co-publishing Tendulkar’s autobiography after being flooded with interest from several publishers.
Poulomi Chatterjee, Publisher, Hachette India, said, “We have had an overwhelming response to the launch of this bestseller and are in talks with several Indian language publishers. We look forward to co-publishing this bestseller in Marathi, Hindi, Gujarati, Malayalam, Assamese, Telugu and Bengali. We will be finalising our publishing partnerships over the next few weeks for a summer 2015 release of these Indian language editions.”
The book, which was released on November 6, has broken all records for an adult hardback on order subscriptions across both fiction and non-fiction categories.
“The book has topped 200,000 copies in orders, already pulling ahead of both pre-order and lifetime sales of the top hardbacks — Dan Brown’s Inferno, Walter Issacson’s Steve Jobs and J K Rowling’s Casual Vacancy,” Hachette India in a release.

4. Rajiv Mehrishi appointed Finance Secretary
 Economic Affairs Secretary Rajiv Mehrishi was on Tuesday designated as Finance Secretary.
The Appointments Committee of Cabinet (ACC) has approved that Mehrishi, a 1978 batch IAS officer of Rajasthan cadre, may be designated as Finance Secretary, said an order issued by the Department of Personnel and Training (DoPT).
Mr. Mehrishi was last month appointed Secretary in Department of Economic Affairs in place of his batchmate Arvind Mayaram, who was first shifted to Tourism and then to Minority Affairs Ministry.

5. India-Israel joint venture missile LRSAM successfully test fired in Israel
Long Range Surface-to-Air Missile (LRSAM) or Barak 8 missile, the missile co-developed by India and Israel, was successfully test-fired on 10 November 2014 from a range in Israel.
The missile successfully intercepted a manoeuvring air-breathing target mimicking an attacking combat aircraft

6. China lifted ban on Social networking websites at APEC Summit
China on 6 November 2014 lifted ban on social networking websites like Face book, Twitter for reporters. This is the first time China has loosened its internet restrictions for a major international event.
China announced to lift the ban on the social networking sites at the Asia-Pacific Economic Cooperation (APEC) Summit in Beijing.

7. RBI tightened NBFC norms by requiring them to have stronger capital base
Reserve Bank of India on 10 November 2014 tightened its norms for Non-Banking Financial Companies (NBFCs) by requiring them to have a much stronger capital base. Failing to which, the NBFCs would lose their CoR (Certificate of Registration).
Revised norms for NBFCs
As per the new set of norms, the NBFCs would be subjected to a stronger set of rules and regulations if they raise public deposits.
These set of norms also mandate a huge eight-fold increase in the minimum Net Owned Fund (NOF) requirement from 25 lakh rupees to 2 crore rupees by 2017 in a phased manner. By March 2016, the NBFCs will have to raise the NOF to 1 crore rupees. 

8. Jawed Usmani appointed as State Chief Information Commissioner in UP
Jawed Usmani appointed as State Chief Information Commissioner (SCIC) in Uttar Pradesh (UP). Governor of UP Ram Naik on 10 November 2014 approved appointment of Jawed Usmani as CIC.
A three-member committee, headed by Chief Minister Akhilesh Yadav selected the name of Usmani and forwarded it to the Governor.  Leader of Opposition in Assembly Swami Prasad Maurya and Leader of the House in Council Ahmad Hasan are other members of the committee.
At present, he is the chairman of Uttar Pradesh Board of Revenue.

9. Google signs 60-year, $1-billion NASA lease
Google has signed a long-term lease for part of a historic Navy air base, where it plans to renovate three massive hangars and use them for projects involving aviation, space exploration and robotics.
The giant Internet company will pay $1.16 billion in rent over 60 years for the property, which also includes a working air field, golf course and other buildings. The 1,000-acre (400-hectare) site is part of the former Moffett Field Naval Air Station on the San Francisco Peninsula.
Google plans to invest more than $200 million to refurbish the hangars and add other improvements, including a museum or educational facility that will showcase the history of Moffett and Silicon Valley, according to a NASA statement.
The agency said a Google subsidiary called Planetary Ventures LLC will use the hangars for “research, development, assembly and testing in the areas of space exploration, aviation, rover/robotics and other emerging technologies.”

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