1. Union Government appointed Nine Executive Directors in Public Sector Banks
The Union Government on 11 March 2014 appointed nine Executive Directors (EDs) in Public Sector Banks (PSBs). The appointment of these EDs was approved by the Appointments Committee of the Cabinet.
List of appointments
• Charan Singh – Executive Director of UCO Bank
• K Venkata Rama Moorthy –Executive Director of Bank of Baroda
• RP Marathe – Executive Director of Bank of India
• Harideesh Kumar B – Executive Director, Canara Bank
• NK Sahoo – Executive Director of Allahabad Bank
• Pawan Kumar Bajaj - Executive Director of Indian Overseas Bank
• Ravi Shankar Pandey - Executive Director of Syndicate Bank
• Kishore Piraji Kharat - Executive Director of Union Bank of India
• RC Lodha - Executive Director of Central Bank of India
These appointments were made on the basis of recommendation of selection panel headed by the Reserve Bank of India Governor Raghuram Rajan.
2. India and Seychelles signed four agreements to boost security cooperation
India signed four agreements with the Indian Ocean island nation Seychelles to boost security and maritime partnership. The agreements were signed during the visit of Prime Minister Narendra Modi to Seychelles.
The four agreements were signed in following categories:
• Cooperation in hydrography
• Cooperation in renewable energy
• Cooperation in Infrastructure development
• Cooperation in Sale of navigation charts and electronic navigational charts
Modi also launched the Coastal Surveillance Radar Project in Seychelles, describing it as another symbol of the cooperation between the two countries. He also announced that India will grant free visas to for three months to the citizens of Seychelles.
Moreover, Seychelles will continue to make an enormous contribution to the safety and security of the Indian Ocean Region. With this visit, Modi became the first Indian Prime Minister to visit Seychelles in 34 years. Indira Gandhi had visited the country in 1981.
3. Indian Railways signed MoU with LIC for implementing Railway projects
Indian Railways signed Memorandum of Understanding (MoU) with Life Insurance Corporation of India (LIC) to augment its resources for speedier execution of projects. The MoU was signed by Rajalakshmi Ravikumar, Financial Commissioner (Railways) and SK Roy, Chairman of LIC.
Under this MoU, LIC will make available a Financial Assistance of 150000 crore rupees to the Indian Railways for implementing Railway projects over the next five years. The Financial Assistance will be available from the Financial Year 2015-16.
LIC will invest in bonds issued by various railway entities such as Indian Railways Finance Corporation. There will be a 5 year moratorium in interest and loan repayment. The bonds will have a tenor of 30 years and will be disbursed over the next five years.
In his Budget Speech 2015-16, Union Railways Minister Suresh Prabhu had announced his intention of meeting a part of the total Plan Budget of 100011 crore rupees through extra budgetary resources, such as market borrowings by tapping low cost long term funds.
4. US President Barack Obama nominated David Hale as Ambassador to Pakistan
The United States (US) President Barack Obama nominated veteran diplomat David Hale as next Ambassador to Pakistan. His appointment was confirmed by the US Senate and he will succeed Cameron Munter.He has been the US Ambassador to Lebanon since 2013. Hale previously served as the Special Envoy for Middle East Peace from 2011 to 2013 and as Deputy Special Envoy for Middle East Peace from 2009 to 2011.
5. Kumar Sangakkara created history by scoring four successive centuries in a Cricket World Cup
Sri Lanka’s batsman Kumar Sangakkara entered the record books by scoring four consecutive centuries in a Cricket World Cup. He achieved the feat when he scored 124 runs against Scotland in the Pool A match of the 2015 Cricket World Cup in Hobart, New Zealand.
With this, he became the first cricketer to achieve this feat in the One Day Internationals (ODI) history. The 37 year old left-hander’s 124 runs in the match helped Sri Lanka to post 364 runs victory target for Scotland.
6. 1998 Asian Games gold-medallist Dingko Singh included in National Boxing Selection panel
1998 Asian Games gold-medallist Dingko Singhwas included in National Boxing Selection panel. The goal of the panel will be to pick a bunch that can deliver medals at the Olympics.Currently, Dingko Singh is working as a coach at the Imphal centre of the Sports Authority of India (SAI).
The 10-member selection panel will be headed by Arjuna awardee Gopal N Devang and it comprises of few Boxing India officials and all the national coaches as additional invitees. The selection panel will remain in office till 2016.
7. Aditya Birla Retail acquired Total hypermarket
Aditya Birla Retail acquired Total Hypermarket. Total Hypermarkets is owned by Jubilant Retail. This is the second acquisition for Aditya Birla, the first being its 2007 buyout of Trinethra Super Retail. Total Hypermarkets will be merged with Aditya Birla Retail's hypermarket and supermarket brand More. Aditya Birla Retail is a part of Aditya Birla Group. It is the fourth largest supermarket retailer in the country. Aditya Birla Retail currently operates over 500 supermarkets and 16 hypermarkets under the More brand.
8. Google CFO Patrick Pichette announced his retirement
Google's Chief Financial Officer (CFO) Patrick Pichette announced his retirement from the office citing personal reasons. The effective date of his retirement was not yet finalised.However, Pichette will stay at Google till the company finds a replacement. Pichette joined Google as CFO since August 2008 when Google was roiled by the economic downturn caused by the financial crisis.
9. Veteran sports journalist K Baskaran died
Veteran sports journalist K Baskaran died following a brief illness. He was 80. He is survived by his wife, a son and three daughters. Being a dedicated sports scribe, Baskaran had reported on most of the games in his long career working for Free Press Journal, Indian Express, Newsday (defunct) and then The Times of India where he spent more than 25 years.
Generally, Baskaran reported on football from all over the country. He was also well-admired for his coverage of other ball games like basketball.
He also authored a book on football titled Wills Book of Football.
10. Macau, Hong Kong under FEMA
The RBI said it has included Macau and Hong Kong in the list of countries whose citizens are prohibited from acquiring/transferring immovable property in India under the Foreign Exchange Management Act. The central bank observed that Macau and Hong Kong are the two Special Administrative Regions of China and are notified separately.
Under FEMA regulations, no person being a citizen of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal or Bhutan without prior permission of the RBI can acquire or transfer immovable property in India, other than lease not exceeding five years.
11. India and Mauritius inked five MoUs to give impetus to bilateral relations
India and Mauritius inked 5 Memorandum of Understandings (MoUs) on 11 March 2015 to give new impetus to bilateral co-operation between the two nations. The MoUs were signed in Port Luis in presence of Prime Minister Narendra Modi and his Mauritian counterpart Sir Anerood Jugnuth.
Prime Minister Narendra Modi is on a five day official tour of three ocean nations, namely Seychelles, Mauritius and Sri Lanka. The journey started on 10 March 2015 and will conclude on 14 March 2015.
This is the first visit to Mauritius by an Indian Prime Minister in over three decades.
The five MoUs which were signed between the two nations include
• MoU in the field of Ocean Economy: The agreement provides for mutually beneficial cooperation for exploration and capacity development in the field of marine resources, fisheries, green tourism, research and development of ocean technology, exchange of experts and other related activities
• MoU on Programme for Cultural Cooperation for the year 2015-18: The programme will help to enhance bilateral cooperation and will also enhance greater people-to-people participation between the two countries.
• MoU on the Protocol for the importation of fresh mango from India: The aim of this Protocol is to facilitate importation of fresh mango fruits from India by Mauritius to enable the Mauritian to relish the flavor of the world-renowned Indian mangoes.
• MoU for the Improvement in Sea and Air Transportation Facilities at Agalega Island of Mauritius: This will help in betterment of the condition of the inhabitants of this remote Island. These facilities will enhance the capabilities of the Mauritian Defence Forces in safeguarding their interests in the Outer Island.
• MoU on Cooperation in the field of Traditional System of Medicine and Homeopathy: This MoU will promote cooperation in the field of traditional system of health and medicine between the two countries. It envisages exchange of experts, supply of traditional medicinal substances, joint research and development and recognition of the traditional systems of health and medicine in both countries. It also aims at promotion and popularization of the various Indian traditional systems which fall under AYUSH.
Beside the summit-level talks and exchange of documents of the MoUs, India also offered a concessional line of credit of 500 million US dollars to Mauritius for key infrastructure projects.
Also, fee on the Electronic Travel Authorisation to visiting Mauritian citizens was waived off. The fee was waived off with an aim to enhance people-to-people contact between the two nations along with promotion of tourism.
The two Prime Ministers also discussed ways to combat climate change.
Comment and Analysis
The MoUs which were signed during the visit of Prime Minister Modi’s visit can be seen as an approach to revive the cultural ties between the two nations along with economic as well as maritime security options.
The MoU on the co-operation in the Ocean Economy lays ahead a chance for the two nations to develop new areas of ocean economy and follow sustainable practices in use of blue assets. It also provides a chance to boost scientific and economic partnership as well as understanding of marine ecology.
Besides, these MoUs will also broaden the regional cooperation and enhance peace and prosperity in maritime region.
The Union Government on 11 March 2014 appointed nine Executive Directors (EDs) in Public Sector Banks (PSBs). The appointment of these EDs was approved by the Appointments Committee of the Cabinet.List of appointments
• Charan Singh – Executive Director of UCO Bank
• K Venkata Rama Moorthy –Executive Director of Bank of Baroda
• RP Marathe – Executive Director of Bank of India
• Harideesh Kumar B – Executive Director, Canara Bank
• NK Sahoo – Executive Director of Allahabad Bank
• Pawan Kumar Bajaj - Executive Director of Indian Overseas Bank
• Ravi Shankar Pandey - Executive Director of Syndicate Bank
• Kishore Piraji Kharat - Executive Director of Union Bank of India
• RC Lodha - Executive Director of Central Bank of India
These appointments were made on the basis of recommendation of selection panel headed by the Reserve Bank of India Governor Raghuram Rajan.
2. India and Seychelles signed four agreements to boost security cooperation
India signed four agreements with the Indian Ocean island nation Seychelles to boost security and maritime partnership. The agreements were signed during the visit of Prime Minister Narendra Modi to Seychelles.
The four agreements were signed in following categories:
• Cooperation in hydrography
• Cooperation in renewable energy
• Cooperation in Infrastructure development
• Cooperation in Sale of navigation charts and electronic navigational charts
Modi also launched the Coastal Surveillance Radar Project in Seychelles, describing it as another symbol of the cooperation between the two countries. He also announced that India will grant free visas to for three months to the citizens of Seychelles.
Moreover, Seychelles will continue to make an enormous contribution to the safety and security of the Indian Ocean Region. With this visit, Modi became the first Indian Prime Minister to visit Seychelles in 34 years. Indira Gandhi had visited the country in 1981.
3. Indian Railways signed MoU with LIC for implementing Railway projects
Indian Railways signed Memorandum of Understanding (MoU) with Life Insurance Corporation of India (LIC) to augment its resources for speedier execution of projects. The MoU was signed by Rajalakshmi Ravikumar, Financial Commissioner (Railways) and SK Roy, Chairman of LIC.
Under this MoU, LIC will make available a Financial Assistance of 150000 crore rupees to the Indian Railways for implementing Railway projects over the next five years. The Financial Assistance will be available from the Financial Year 2015-16.
LIC will invest in bonds issued by various railway entities such as Indian Railways Finance Corporation. There will be a 5 year moratorium in interest and loan repayment. The bonds will have a tenor of 30 years and will be disbursed over the next five years.
In his Budget Speech 2015-16, Union Railways Minister Suresh Prabhu had announced his intention of meeting a part of the total Plan Budget of 100011 crore rupees through extra budgetary resources, such as market borrowings by tapping low cost long term funds.
4. US President Barack Obama nominated David Hale as Ambassador to Pakistan
The United States (US) President Barack Obama nominated veteran diplomat David Hale as next Ambassador to Pakistan. His appointment was confirmed by the US Senate and he will succeed Cameron Munter.He has been the US Ambassador to Lebanon since 2013. Hale previously served as the Special Envoy for Middle East Peace from 2011 to 2013 and as Deputy Special Envoy for Middle East Peace from 2009 to 2011.
5. Kumar Sangakkara created history by scoring four successive centuries in a Cricket World Cup
Sri Lanka’s batsman Kumar Sangakkara entered the record books by scoring four consecutive centuries in a Cricket World Cup. He achieved the feat when he scored 124 runs against Scotland in the Pool A match of the 2015 Cricket World Cup in Hobart, New Zealand.
With this, he became the first cricketer to achieve this feat in the One Day Internationals (ODI) history. The 37 year old left-hander’s 124 runs in the match helped Sri Lanka to post 364 runs victory target for Scotland.
6. 1998 Asian Games gold-medallist Dingko Singh included in National Boxing Selection panel
1998 Asian Games gold-medallist Dingko Singhwas included in National Boxing Selection panel. The goal of the panel will be to pick a bunch that can deliver medals at the Olympics.Currently, Dingko Singh is working as a coach at the Imphal centre of the Sports Authority of India (SAI).
The 10-member selection panel will be headed by Arjuna awardee Gopal N Devang and it comprises of few Boxing India officials and all the national coaches as additional invitees. The selection panel will remain in office till 2016.
7. Aditya Birla Retail acquired Total hypermarket
Aditya Birla Retail acquired Total Hypermarket. Total Hypermarkets is owned by Jubilant Retail. This is the second acquisition for Aditya Birla, the first being its 2007 buyout of Trinethra Super Retail. Total Hypermarkets will be merged with Aditya Birla Retail's hypermarket and supermarket brand More. Aditya Birla Retail is a part of Aditya Birla Group. It is the fourth largest supermarket retailer in the country. Aditya Birla Retail currently operates over 500 supermarkets and 16 hypermarkets under the More brand.
8. Google CFO Patrick Pichette announced his retirement
Google's Chief Financial Officer (CFO) Patrick Pichette announced his retirement from the office citing personal reasons. The effective date of his retirement was not yet finalised.However, Pichette will stay at Google till the company finds a replacement. Pichette joined Google as CFO since August 2008 when Google was roiled by the economic downturn caused by the financial crisis.
9. Veteran sports journalist K Baskaran died
Veteran sports journalist K Baskaran died following a brief illness. He was 80. He is survived by his wife, a son and three daughters. Being a dedicated sports scribe, Baskaran had reported on most of the games in his long career working for Free Press Journal, Indian Express, Newsday (defunct) and then The Times of India where he spent more than 25 years.
Generally, Baskaran reported on football from all over the country. He was also well-admired for his coverage of other ball games like basketball.
He also authored a book on football titled Wills Book of Football.
10. Macau, Hong Kong under FEMA
The RBI said it has included Macau and Hong Kong in the list of countries whose citizens are prohibited from acquiring/transferring immovable property in India under the Foreign Exchange Management Act. The central bank observed that Macau and Hong Kong are the two Special Administrative Regions of China and are notified separately.
Under FEMA regulations, no person being a citizen of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal or Bhutan without prior permission of the RBI can acquire or transfer immovable property in India, other than lease not exceeding five years.
11. India and Mauritius inked five MoUs to give impetus to bilateral relations
India and Mauritius inked 5 Memorandum of Understandings (MoUs) on 11 March 2015 to give new impetus to bilateral co-operation between the two nations. The MoUs were signed in Port Luis in presence of Prime Minister Narendra Modi and his Mauritian counterpart Sir Anerood Jugnuth.
Prime Minister Narendra Modi is on a five day official tour of three ocean nations, namely Seychelles, Mauritius and Sri Lanka. The journey started on 10 March 2015 and will conclude on 14 March 2015.
This is the first visit to Mauritius by an Indian Prime Minister in over three decades.
The five MoUs which were signed between the two nations include
• MoU in the field of Ocean Economy: The agreement provides for mutually beneficial cooperation for exploration and capacity development in the field of marine resources, fisheries, green tourism, research and development of ocean technology, exchange of experts and other related activities
• MoU on Programme for Cultural Cooperation for the year 2015-18: The programme will help to enhance bilateral cooperation and will also enhance greater people-to-people participation between the two countries.
• MoU on the Protocol for the importation of fresh mango from India: The aim of this Protocol is to facilitate importation of fresh mango fruits from India by Mauritius to enable the Mauritian to relish the flavor of the world-renowned Indian mangoes.
• MoU for the Improvement in Sea and Air Transportation Facilities at Agalega Island of Mauritius: This will help in betterment of the condition of the inhabitants of this remote Island. These facilities will enhance the capabilities of the Mauritian Defence Forces in safeguarding their interests in the Outer Island.
• MoU on Cooperation in the field of Traditional System of Medicine and Homeopathy: This MoU will promote cooperation in the field of traditional system of health and medicine between the two countries. It envisages exchange of experts, supply of traditional medicinal substances, joint research and development and recognition of the traditional systems of health and medicine in both countries. It also aims at promotion and popularization of the various Indian traditional systems which fall under AYUSH.
Beside the summit-level talks and exchange of documents of the MoUs, India also offered a concessional line of credit of 500 million US dollars to Mauritius for key infrastructure projects.
Also, fee on the Electronic Travel Authorisation to visiting Mauritian citizens was waived off. The fee was waived off with an aim to enhance people-to-people contact between the two nations along with promotion of tourism.
The two Prime Ministers also discussed ways to combat climate change.
Comment and Analysis
The MoUs which were signed during the visit of Prime Minister Modi’s visit can be seen as an approach to revive the cultural ties between the two nations along with economic as well as maritime security options.
The MoU on the co-operation in the Ocean Economy lays ahead a chance for the two nations to develop new areas of ocean economy and follow sustainable practices in use of blue assets. It also provides a chance to boost scientific and economic partnership as well as understanding of marine ecology.
Besides, these MoUs will also broaden the regional cooperation and enhance peace and prosperity in maritime region.
1. Union Government appointed Nine Executive Directors in Public Sector Banks
The Union Government on 11 March 2014 appointed nine Executive Directors (EDs) in Public Sector Banks (PSBs). The appointment of these EDs was approved by the Appointments Committee of the Cabinet.
List of appointments
• Charan Singh – Executive Director of UCO Bank
• K Venkata Rama Moorthy –Executive Director of Bank of Baroda
• RP Marathe – Executive Director of Bank of India
• Harideesh Kumar B – Executive Director, Canara Bank
• NK Sahoo – Executive Director of Allahabad Bank
• Pawan Kumar Bajaj - Executive Director of Indian Overseas Bank
• Ravi Shankar Pandey - Executive Director of Syndicate Bank
• Kishore Piraji Kharat - Executive Director of Union Bank of India
• RC Lodha - Executive Director of Central Bank of India
These appointments were made on the basis of recommendation of selection panel headed by the Reserve Bank of India Governor Raghuram Rajan.
2. India and Seychelles signed four agreements to boost security cooperation
India signed four agreements with the Indian Ocean island nation Seychelles to boost security and maritime partnership. The agreements were signed during the visit of Prime Minister Narendra Modi to Seychelles.
The four agreements were signed in following categories:
• Cooperation in hydrography
• Cooperation in renewable energy
• Cooperation in Infrastructure development
• Cooperation in Sale of navigation charts and electronic navigational charts
Modi also launched the Coastal Surveillance Radar Project in Seychelles, describing it as another symbol of the cooperation between the two countries. He also announced that India will grant free visas to for three months to the citizens of Seychelles.
Moreover, Seychelles will continue to make an enormous contribution to the safety and security of the Indian Ocean Region. With this visit, Modi became the first Indian Prime Minister to visit Seychelles in 34 years. Indira Gandhi had visited the country in 1981.
3. Indian Railways signed MoU with LIC for implementing Railway projects
Indian Railways signed Memorandum of Understanding (MoU) with Life Insurance Corporation of India (LIC) to augment its resources for speedier execution of projects. The MoU was signed by Rajalakshmi Ravikumar, Financial Commissioner (Railways) and SK Roy, Chairman of LIC.
Under this MoU, LIC will make available a Financial Assistance of 150000 crore rupees to the Indian Railways for implementing Railway projects over the next five years. The Financial Assistance will be available from the Financial Year 2015-16.
LIC will invest in bonds issued by various railway entities such as Indian Railways Finance Corporation. There will be a 5 year moratorium in interest and loan repayment. The bonds will have a tenor of 30 years and will be disbursed over the next five years.
In his Budget Speech 2015-16, Union Railways Minister Suresh Prabhu had announced his intention of meeting a part of the total Plan Budget of 100011 crore rupees through extra budgetary resources, such as market borrowings by tapping low cost long term funds.
4. US President Barack Obama nominated David Hale as Ambassador to Pakistan
The United States (US) President Barack Obama nominated veteran diplomat David Hale as next Ambassador to Pakistan. His appointment was confirmed by the US Senate and he will succeed Cameron Munter.He has been the US Ambassador to Lebanon since 2013. Hale previously served as the Special Envoy for Middle East Peace from 2011 to 2013 and as Deputy Special Envoy for Middle East Peace from 2009 to 2011.
5. Kumar Sangakkara created history by scoring four successive centuries in a Cricket World Cup
Sri Lanka’s batsman Kumar Sangakkara entered the record books by scoring four consecutive centuries in a Cricket World Cup. He achieved the feat when he scored 124 runs against Scotland in the Pool A match of the 2015 Cricket World Cup in Hobart, New Zealand.
With this, he became the first cricketer to achieve this feat in the One Day Internationals (ODI) history. The 37 year old left-hander’s 124 runs in the match helped Sri Lanka to post 364 runs victory target for Scotland.
6. 1998 Asian Games gold-medallist Dingko Singh included in National Boxing Selection panel
1998 Asian Games gold-medallist Dingko Singhwas included in National Boxing Selection panel. The goal of the panel will be to pick a bunch that can deliver medals at the Olympics.Currently, Dingko Singh is working as a coach at the Imphal centre of the Sports Authority of India (SAI).
The 10-member selection panel will be headed by Arjuna awardee Gopal N Devang and it comprises of few Boxing India officials and all the national coaches as additional invitees. The selection panel will remain in office till 2016.
7. Aditya Birla Retail acquired Total hypermarket
Aditya Birla Retail acquired Total Hypermarket. Total Hypermarkets is owned by Jubilant Retail. This is the second acquisition for Aditya Birla, the first being its 2007 buyout of Trinethra Super Retail. Total Hypermarkets will be merged with Aditya Birla Retail's hypermarket and supermarket brand More. Aditya Birla Retail is a part of Aditya Birla Group. It is the fourth largest supermarket retailer in the country. Aditya Birla Retail currently operates over 500 supermarkets and 16 hypermarkets under the More brand.
8. Google CFO Patrick Pichette announced his retirement
Google's Chief Financial Officer (CFO) Patrick Pichette announced his retirement from the office citing personal reasons. The effective date of his retirement was not yet finalised.However, Pichette will stay at Google till the company finds a replacement. Pichette joined Google as CFO since August 2008 when Google was roiled by the economic downturn caused by the financial crisis.
9. Veteran sports journalist K Baskaran died
Veteran sports journalist K Baskaran died following a brief illness. He was 80. He is survived by his wife, a son and three daughters. Being a dedicated sports scribe, Baskaran had reported on most of the games in his long career working for Free Press Journal, Indian Express, Newsday (defunct) and then The Times of India where he spent more than 25 years.
Generally, Baskaran reported on football from all over the country. He was also well-admired for his coverage of other ball games like basketball.
He also authored a book on football titled Wills Book of Football.
10. Macau, Hong Kong under FEMA
The RBI said it has included Macau and Hong Kong in the list of countries whose citizens are prohibited from acquiring/transferring immovable property in India under the Foreign Exchange Management Act. The central bank observed that Macau and Hong Kong are the two Special Administrative Regions of China and are notified separately.
Under FEMA regulations, no person being a citizen of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal or Bhutan without prior permission of the RBI can acquire or transfer immovable property in India, other than lease not exceeding five years.
11. India and Mauritius inked five MoUs to give impetus to bilateral relations
India and Mauritius inked 5 Memorandum of Understandings (MoUs) on 11 March 2015 to give new impetus to bilateral co-operation between the two nations. The MoUs were signed in Port Luis in presence of Prime Minister Narendra Modi and his Mauritian counterpart Sir Anerood Jugnuth.
Prime Minister Narendra Modi is on a five day official tour of three ocean nations, namely Seychelles, Mauritius and Sri Lanka. The journey started on 10 March 2015 and will conclude on 14 March 2015.
This is the first visit to Mauritius by an Indian Prime Minister in over three decades.
The five MoUs which were signed between the two nations include
• MoU in the field of Ocean Economy: The agreement provides for mutually beneficial cooperation for exploration and capacity development in the field of marine resources, fisheries, green tourism, research and development of ocean technology, exchange of experts and other related activities
• MoU on Programme for Cultural Cooperation for the year 2015-18: The programme will help to enhance bilateral cooperation and will also enhance greater people-to-people participation between the two countries.
• MoU on the Protocol for the importation of fresh mango from India: The aim of this Protocol is to facilitate importation of fresh mango fruits from India by Mauritius to enable the Mauritian to relish the flavor of the world-renowned Indian mangoes.
• MoU for the Improvement in Sea and Air Transportation Facilities at Agalega Island of Mauritius: This will help in betterment of the condition of the inhabitants of this remote Island. These facilities will enhance the capabilities of the Mauritian Defence Forces in safeguarding their interests in the Outer Island.
• MoU on Cooperation in the field of Traditional System of Medicine and Homeopathy: This MoU will promote cooperation in the field of traditional system of health and medicine between the two countries. It envisages exchange of experts, supply of traditional medicinal substances, joint research and development and recognition of the traditional systems of health and medicine in both countries. It also aims at promotion and popularization of the various Indian traditional systems which fall under AYUSH.
Beside the summit-level talks and exchange of documents of the MoUs, India also offered a concessional line of credit of 500 million US dollars to Mauritius for key infrastructure projects.
Also, fee on the Electronic Travel Authorisation to visiting Mauritian citizens was waived off. The fee was waived off with an aim to enhance people-to-people contact between the two nations along with promotion of tourism.
The two Prime Ministers also discussed ways to combat climate change.
Comment and Analysis
The MoUs which were signed during the visit of Prime Minister Modi’s visit can be seen as an approach to revive the cultural ties between the two nations along with economic as well as maritime security options.
The MoU on the co-operation in the Ocean Economy lays ahead a chance for the two nations to develop new areas of ocean economy and follow sustainable practices in use of blue assets. It also provides a chance to boost scientific and economic partnership as well as understanding of marine ecology.
Besides, these MoUs will also broaden the regional cooperation and enhance peace and prosperity in maritime region.
The Union Government on 11 March 2014 appointed nine Executive Directors (EDs) in Public Sector Banks (PSBs). The appointment of these EDs was approved by the Appointments Committee of the Cabinet.List of appointments
• Charan Singh – Executive Director of UCO Bank
• K Venkata Rama Moorthy –Executive Director of Bank of Baroda
• RP Marathe – Executive Director of Bank of India
• Harideesh Kumar B – Executive Director, Canara Bank
• NK Sahoo – Executive Director of Allahabad Bank
• Pawan Kumar Bajaj - Executive Director of Indian Overseas Bank
• Ravi Shankar Pandey - Executive Director of Syndicate Bank
• Kishore Piraji Kharat - Executive Director of Union Bank of India
• RC Lodha - Executive Director of Central Bank of India
These appointments were made on the basis of recommendation of selection panel headed by the Reserve Bank of India Governor Raghuram Rajan.
2. India and Seychelles signed four agreements to boost security cooperation
India signed four agreements with the Indian Ocean island nation Seychelles to boost security and maritime partnership. The agreements were signed during the visit of Prime Minister Narendra Modi to Seychelles.
The four agreements were signed in following categories:
• Cooperation in hydrography
• Cooperation in renewable energy
• Cooperation in Infrastructure development
• Cooperation in Sale of navigation charts and electronic navigational charts
Modi also launched the Coastal Surveillance Radar Project in Seychelles, describing it as another symbol of the cooperation between the two countries. He also announced that India will grant free visas to for three months to the citizens of Seychelles.
Moreover, Seychelles will continue to make an enormous contribution to the safety and security of the Indian Ocean Region. With this visit, Modi became the first Indian Prime Minister to visit Seychelles in 34 years. Indira Gandhi had visited the country in 1981.
3. Indian Railways signed MoU with LIC for implementing Railway projects
Indian Railways signed Memorandum of Understanding (MoU) with Life Insurance Corporation of India (LIC) to augment its resources for speedier execution of projects. The MoU was signed by Rajalakshmi Ravikumar, Financial Commissioner (Railways) and SK Roy, Chairman of LIC.
Under this MoU, LIC will make available a Financial Assistance of 150000 crore rupees to the Indian Railways for implementing Railway projects over the next five years. The Financial Assistance will be available from the Financial Year 2015-16.
LIC will invest in bonds issued by various railway entities such as Indian Railways Finance Corporation. There will be a 5 year moratorium in interest and loan repayment. The bonds will have a tenor of 30 years and will be disbursed over the next five years.
In his Budget Speech 2015-16, Union Railways Minister Suresh Prabhu had announced his intention of meeting a part of the total Plan Budget of 100011 crore rupees through extra budgetary resources, such as market borrowings by tapping low cost long term funds.
4. US President Barack Obama nominated David Hale as Ambassador to Pakistan
The United States (US) President Barack Obama nominated veteran diplomat David Hale as next Ambassador to Pakistan. His appointment was confirmed by the US Senate and he will succeed Cameron Munter.He has been the US Ambassador to Lebanon since 2013. Hale previously served as the Special Envoy for Middle East Peace from 2011 to 2013 and as Deputy Special Envoy for Middle East Peace from 2009 to 2011.
5. Kumar Sangakkara created history by scoring four successive centuries in a Cricket World Cup
Sri Lanka’s batsman Kumar Sangakkara entered the record books by scoring four consecutive centuries in a Cricket World Cup. He achieved the feat when he scored 124 runs against Scotland in the Pool A match of the 2015 Cricket World Cup in Hobart, New Zealand.
With this, he became the first cricketer to achieve this feat in the One Day Internationals (ODI) history. The 37 year old left-hander’s 124 runs in the match helped Sri Lanka to post 364 runs victory target for Scotland.
6. 1998 Asian Games gold-medallist Dingko Singh included in National Boxing Selection panel
1998 Asian Games gold-medallist Dingko Singhwas included in National Boxing Selection panel. The goal of the panel will be to pick a bunch that can deliver medals at the Olympics.Currently, Dingko Singh is working as a coach at the Imphal centre of the Sports Authority of India (SAI).
The 10-member selection panel will be headed by Arjuna awardee Gopal N Devang and it comprises of few Boxing India officials and all the national coaches as additional invitees. The selection panel will remain in office till 2016.
7. Aditya Birla Retail acquired Total hypermarket
Aditya Birla Retail acquired Total Hypermarket. Total Hypermarkets is owned by Jubilant Retail. This is the second acquisition for Aditya Birla, the first being its 2007 buyout of Trinethra Super Retail. Total Hypermarkets will be merged with Aditya Birla Retail's hypermarket and supermarket brand More. Aditya Birla Retail is a part of Aditya Birla Group. It is the fourth largest supermarket retailer in the country. Aditya Birla Retail currently operates over 500 supermarkets and 16 hypermarkets under the More brand.
8. Google CFO Patrick Pichette announced his retirement
Google's Chief Financial Officer (CFO) Patrick Pichette announced his retirement from the office citing personal reasons. The effective date of his retirement was not yet finalised.However, Pichette will stay at Google till the company finds a replacement. Pichette joined Google as CFO since August 2008 when Google was roiled by the economic downturn caused by the financial crisis.
9. Veteran sports journalist K Baskaran died
Veteran sports journalist K Baskaran died following a brief illness. He was 80. He is survived by his wife, a son and three daughters. Being a dedicated sports scribe, Baskaran had reported on most of the games in his long career working for Free Press Journal, Indian Express, Newsday (defunct) and then The Times of India where he spent more than 25 years.
Generally, Baskaran reported on football from all over the country. He was also well-admired for his coverage of other ball games like basketball.
He also authored a book on football titled Wills Book of Football.
10. Macau, Hong Kong under FEMA
The RBI said it has included Macau and Hong Kong in the list of countries whose citizens are prohibited from acquiring/transferring immovable property in India under the Foreign Exchange Management Act. The central bank observed that Macau and Hong Kong are the two Special Administrative Regions of China and are notified separately.
Under FEMA regulations, no person being a citizen of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal or Bhutan without prior permission of the RBI can acquire or transfer immovable property in India, other than lease not exceeding five years.
11. India and Mauritius inked five MoUs to give impetus to bilateral relations
India and Mauritius inked 5 Memorandum of Understandings (MoUs) on 11 March 2015 to give new impetus to bilateral co-operation between the two nations. The MoUs were signed in Port Luis in presence of Prime Minister Narendra Modi and his Mauritian counterpart Sir Anerood Jugnuth.
Prime Minister Narendra Modi is on a five day official tour of three ocean nations, namely Seychelles, Mauritius and Sri Lanka. The journey started on 10 March 2015 and will conclude on 14 March 2015.
This is the first visit to Mauritius by an Indian Prime Minister in over three decades.
The five MoUs which were signed between the two nations include
• MoU in the field of Ocean Economy: The agreement provides for mutually beneficial cooperation for exploration and capacity development in the field of marine resources, fisheries, green tourism, research and development of ocean technology, exchange of experts and other related activities
• MoU on Programme for Cultural Cooperation for the year 2015-18: The programme will help to enhance bilateral cooperation and will also enhance greater people-to-people participation between the two countries.
• MoU on the Protocol for the importation of fresh mango from India: The aim of this Protocol is to facilitate importation of fresh mango fruits from India by Mauritius to enable the Mauritian to relish the flavor of the world-renowned Indian mangoes.
• MoU for the Improvement in Sea and Air Transportation Facilities at Agalega Island of Mauritius: This will help in betterment of the condition of the inhabitants of this remote Island. These facilities will enhance the capabilities of the Mauritian Defence Forces in safeguarding their interests in the Outer Island.
• MoU on Cooperation in the field of Traditional System of Medicine and Homeopathy: This MoU will promote cooperation in the field of traditional system of health and medicine between the two countries. It envisages exchange of experts, supply of traditional medicinal substances, joint research and development and recognition of the traditional systems of health and medicine in both countries. It also aims at promotion and popularization of the various Indian traditional systems which fall under AYUSH.
Beside the summit-level talks and exchange of documents of the MoUs, India also offered a concessional line of credit of 500 million US dollars to Mauritius for key infrastructure projects.
Also, fee on the Electronic Travel Authorisation to visiting Mauritian citizens was waived off. The fee was waived off with an aim to enhance people-to-people contact between the two nations along with promotion of tourism.
The two Prime Ministers also discussed ways to combat climate change.
Comment and Analysis
The MoUs which were signed during the visit of Prime Minister Modi’s visit can be seen as an approach to revive the cultural ties between the two nations along with economic as well as maritime security options.
The MoU on the co-operation in the Ocean Economy lays ahead a chance for the two nations to develop new areas of ocean economy and follow sustainable practices in use of blue assets. It also provides a chance to boost scientific and economic partnership as well as understanding of marine ecology.
Besides, these MoUs will also broaden the regional cooperation and enhance peace and prosperity in maritime region.
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