1. Earthquake of magnitude 7.9 on the Richter scale struck Nepal
A high-intensity earthquake of magnitude 7.9 on the Richter scale struck Nepal on 25 April 2015. The epicenter of the quake was 80km east of Pokhra near Kathmandu, Nepal at a shallow depth of 11 kilometers (7 miles).
The powerful quake that rocked Nepal killed at least 100 people and several were injured. It also led to collapse of houses and centuries-old temples. The landmark Dharahara tower built in the 19th century in Kathmandu was reduced to rubble.
The quake also led to avalanche on Mount Everest.
The tremors of the quake, which is the worst in the Himalayan nation in over 80 years, were felt in northern India, Pakistan and Bangladesh. In India, the tremors were felt in Bihar, Uttar Pradesh, Rajasthan, Uttarakhand, Madhya Pradesh, West Bengal, Haryana, Assam, Manipur, Sikkim and Punjab.
Nepal suffered its worst earthquake of magnitude 8.0 in 1934. The quake destroyed the cities of Kathmandu, Bhaktapur and Patan.
2. Prime Minister Narendra Modi inaugurated India’s Healthcare Portal
Prime Minister Narendra Modi inaugurated India’s Healthcare Portal at the SAAARC Trade Mart in the Global Exhibition on Services, in ITPO, Pragati Maidan, New Delhi.
The portal is an authentic and dynamic information source which can effectively be used by any treatment seeker/potential medical tourist from across the globe.
At present, the portal covers 124 accredited medical facilities which include 93 medical centres, 30 Ayurveda and Wellness centres and 1 special category centre. 74 facilities are located in Tier I cites and the rest are in Tier II cities. The Healthcare Portal can be seen at www.indiahealthcaretourism.com
About the Healthcare Portal
• The Healthcare Portal was developed by the Department of Commerce, Union Government and the Services Export Promotion Council (SEPC)
• The portal is a comprehensive one-point information site and covers hospital-related and travel-related information on India
• The medical facilities on the Healthcare Portal are locatable by easy to search options by location, medical specialty, key procedures, language options available in hospitals and their certifications.
• The key medical and wellness procedures done by these institutions are highlighted.
• It also provides associated details like costs relating to treatment in hospitals in India, travel and visa formalities, last-mile connectivity, tariff options on stay, benefits of treatment in India, advance information on preparatory aspects in seeking medical care and others
3. World Malaria Day observed with theme Invest in the Future. Defeat Malaria
World Malaria Day (WMD) was observed on 25 April 2015. The theme for the 2013-2015 campaign is Invest in the Future. Defeat Malaria.
The day is observed to recognise the global efforts to control malaria. It is an occasion to highlight the need for continued investment and sustained political commitment for malaria control and elimination World Malaria Day was instituted by World Health Organization (WHO) Member States during the 2007 World Health Assembly.
On the occasion of the 2015 World Malaria Day (WMD), WHO called on the global health community to urgently address significant gaps in the prevention, diagnosis and treatment of malaria.
In its report, WHO said that malaria cases and deaths have significantly declined since 2000, but more than a million lives are still lost to this preventable disease each year. It says, that at least three quarters of malaria deaths occur in children under 5.
4. Russia, Argentina signed agreements on economic & energy co-operation
Russia and Argentina 2015 signed a series of framework agreements on economic and energy co-operation. The agreements were inked during the two-day visit of Argentine President Cristina Fernandez de Kirchner to Moscow.
Kirchner and Russian President Vladimir Putin termed the agreements as a comprehensive strategic partnership between the two countries.
The agreements include
• Russia agreed to finance the hydroelectric plant in Argentina’s Neuquen River
• Russia’s Rosatom nuclear corporation agreed to build a new reactor at Argentina’s Atucha 3 nuclear power plant
• A Memorandum of Co-operation (MoC) was signed on defence
The two leaders also agreed to consider use of their national currencies rather than US dollars in bilateral trade.
5.Turrialba Volcano erupted in Costa Rica
Turrialba volcano in Costa Rica erupted . The eruption led to rise of a column of gas and ash in the sky and forced closure of the airport in the capital city San Jose.
The blast from the Turrialba volcano in the east of the Central American country came after the Calbuco volcano in Chile erupted twice on 22 April and 24 April 2015.
About Turrialba volcano
• Turrialba Volcano is a 3340 m (10958 ft) high stratovolcano (composite volcano) near the Atlantic slope town of Turrialba
• The summit has three craters, one of which has fumaroles and sulfur pits. The largest crater has a diameter of 50 m (160 ft)
• Turrialba was inactive for 130 years until it came back to life in the 1990s and last time it erupted in March 2015
• Earlier in October 2014, it erupted with great force, spewing ash and magma and has been rumbling ever since
• Turrialba is adjacent to Irazú and both are among Costa Rica's largest volcanoes. It had at least five large explosive eruptions in last 3500 years
6. Union Government allowed EPFO to invest 5 percent of its corpus in stock market
Union Government allowed Employees’ Provident Fund Organisation (EPFO) to invest five percent of its corpus in Exchange Traded Funds (ETFs). The decision will result into an inflow of around five thousand crore rupees into the stock markets during fiscal 2015-16.
Union Labour Ministry has notified the new investment pattern for the EPFO, which allows the body to invest 5 per cent of its funds into ETFs.
The investment will begin by one percent and go up to five percent by the end of the financial year. As per estimates, the EPFO's incremental deposits for 2014-15 would be around 80 thousand crore rupees.
7. New India, Star Union, BoI tie up
Bank of India has partnered with insurance companies New India Assurance Co and Star Union Dai-ichi Life Insurance to roll out the government’s social security insurance schemes.“The New India Assurance and Star Union Dai-ichi Life Insurance Company will issue a group policy to the bank and the policy would start on June 1, 2015 for one year. Enrolment is likely to start from May 1,” the bank said in a statement. It added, “No proposal form is required from accountholders. An accountholder has to give auto-debit request form to the bank and will get acknowledgement- cum-certificate by the bank immediately. The claim request will be forwarded through the respective bank branch for settlement of claim.”
8. Lakshmi Vilas Bank to offer special 9% rate on 900 days deposit
Lakshmi Vilas Bank is planning to offer a special rate of 9 per cent on 900 days term deposit. The offer is expected to be effected from April 27.
The rate is 0.20 per cent higher than those with a tenure of 901 days and above up to 3 years.
Long term deposits of 5 years and above would fetch a lower rate at 8.75 per cent compared to the rate offered for 901 to 3 year time bucket at 8.80 per cent.
9. SEBI ready to give VC funds more headroom to invest abroad
fter receiving feedback from various stakeholders, the Securities and Exchange Board of India on Friday proposed to allow venture capital funds to invest up to 25 per cent of their investible funds in foreign companies that having ‘Indian connection’. Currently, the cap is fixed at 10 per cent.
Need for enhancing limit
Indian connection would include companies having a front office overseas, but back office operations in India.
Many Indian entrepreneurs have been setting up their headquarters outside India with back-end or research and development operations in India. “Therefore, there is a need to allow higher overseas investment by VCs more than existing 10 per cent limit,” SEBI said.
Representatives are of the view that such investments would provide opportunities to the funds to generate better returns globally, getting exposure to the international markets practices, etc.
For AIFs, though there is no investment limit currently on their investment in securities of companies incorporated outside India, their investments will be subject to conditions of the RBI or SEBI from time to time.
A high-intensity earthquake of magnitude 7.9 on the Richter scale struck Nepal on 25 April 2015. The epicenter of the quake was 80km east of Pokhra near Kathmandu, Nepal at a shallow depth of 11 kilometers (7 miles).The powerful quake that rocked Nepal killed at least 100 people and several were injured. It also led to collapse of houses and centuries-old temples. The landmark Dharahara tower built in the 19th century in Kathmandu was reduced to rubble.
The quake also led to avalanche on Mount Everest.
The tremors of the quake, which is the worst in the Himalayan nation in over 80 years, were felt in northern India, Pakistan and Bangladesh. In India, the tremors were felt in Bihar, Uttar Pradesh, Rajasthan, Uttarakhand, Madhya Pradesh, West Bengal, Haryana, Assam, Manipur, Sikkim and Punjab.
Nepal suffered its worst earthquake of magnitude 8.0 in 1934. The quake destroyed the cities of Kathmandu, Bhaktapur and Patan.
2. Prime Minister Narendra Modi inaugurated India’s Healthcare Portal
Prime Minister Narendra Modi inaugurated India’s Healthcare Portal at the SAAARC Trade Mart in the Global Exhibition on Services, in ITPO, Pragati Maidan, New Delhi.
The portal is an authentic and dynamic information source which can effectively be used by any treatment seeker/potential medical tourist from across the globe.
At present, the portal covers 124 accredited medical facilities which include 93 medical centres, 30 Ayurveda and Wellness centres and 1 special category centre. 74 facilities are located in Tier I cites and the rest are in Tier II cities. The Healthcare Portal can be seen at www.indiahealthcaretourism.com
About the Healthcare Portal
• The Healthcare Portal was developed by the Department of Commerce, Union Government and the Services Export Promotion Council (SEPC)
• The portal is a comprehensive one-point information site and covers hospital-related and travel-related information on India
• The medical facilities on the Healthcare Portal are locatable by easy to search options by location, medical specialty, key procedures, language options available in hospitals and their certifications.
• The key medical and wellness procedures done by these institutions are highlighted.
• It also provides associated details like costs relating to treatment in hospitals in India, travel and visa formalities, last-mile connectivity, tariff options on stay, benefits of treatment in India, advance information on preparatory aspects in seeking medical care and others
3. World Malaria Day observed with theme Invest in the Future. Defeat Malaria
World Malaria Day (WMD) was observed on 25 April 2015. The theme for the 2013-2015 campaign is Invest in the Future. Defeat Malaria.
The day is observed to recognise the global efforts to control malaria. It is an occasion to highlight the need for continued investment and sustained political commitment for malaria control and elimination World Malaria Day was instituted by World Health Organization (WHO) Member States during the 2007 World Health Assembly.
On the occasion of the 2015 World Malaria Day (WMD), WHO called on the global health community to urgently address significant gaps in the prevention, diagnosis and treatment of malaria.
In its report, WHO said that malaria cases and deaths have significantly declined since 2000, but more than a million lives are still lost to this preventable disease each year. It says, that at least three quarters of malaria deaths occur in children under 5.
4. Russia, Argentina signed agreements on economic & energy co-operation
Russia and Argentina 2015 signed a series of framework agreements on economic and energy co-operation. The agreements were inked during the two-day visit of Argentine President Cristina Fernandez de Kirchner to Moscow.
Kirchner and Russian President Vladimir Putin termed the agreements as a comprehensive strategic partnership between the two countries.
The agreements include
• Russia agreed to finance the hydroelectric plant in Argentina’s Neuquen River
• Russia’s Rosatom nuclear corporation agreed to build a new reactor at Argentina’s Atucha 3 nuclear power plant
• A Memorandum of Co-operation (MoC) was signed on defence
The two leaders also agreed to consider use of their national currencies rather than US dollars in bilateral trade.
5.Turrialba Volcano erupted in Costa Rica
Turrialba volcano in Costa Rica erupted . The eruption led to rise of a column of gas and ash in the sky and forced closure of the airport in the capital city San Jose.
The blast from the Turrialba volcano in the east of the Central American country came after the Calbuco volcano in Chile erupted twice on 22 April and 24 April 2015.
About Turrialba volcano
• Turrialba Volcano is a 3340 m (10958 ft) high stratovolcano (composite volcano) near the Atlantic slope town of Turrialba
• The summit has three craters, one of which has fumaroles and sulfur pits. The largest crater has a diameter of 50 m (160 ft)
• Turrialba was inactive for 130 years until it came back to life in the 1990s and last time it erupted in March 2015
• Earlier in October 2014, it erupted with great force, spewing ash and magma and has been rumbling ever since
• Turrialba is adjacent to Irazú and both are among Costa Rica's largest volcanoes. It had at least five large explosive eruptions in last 3500 years
6. Union Government allowed EPFO to invest 5 percent of its corpus in stock market
Union Government allowed Employees’ Provident Fund Organisation (EPFO) to invest five percent of its corpus in Exchange Traded Funds (ETFs). The decision will result into an inflow of around five thousand crore rupees into the stock markets during fiscal 2015-16.
Union Labour Ministry has notified the new investment pattern for the EPFO, which allows the body to invest 5 per cent of its funds into ETFs.
The investment will begin by one percent and go up to five percent by the end of the financial year. As per estimates, the EPFO's incremental deposits for 2014-15 would be around 80 thousand crore rupees.
7. New India, Star Union, BoI tie up
Bank of India has partnered with insurance companies New India Assurance Co and Star Union Dai-ichi Life Insurance to roll out the government’s social security insurance schemes.“The New India Assurance and Star Union Dai-ichi Life Insurance Company will issue a group policy to the bank and the policy would start on June 1, 2015 for one year. Enrolment is likely to start from May 1,” the bank said in a statement. It added, “No proposal form is required from accountholders. An accountholder has to give auto-debit request form to the bank and will get acknowledgement- cum-certificate by the bank immediately. The claim request will be forwarded through the respective bank branch for settlement of claim.”
8. Lakshmi Vilas Bank to offer special 9% rate on 900 days deposit
Lakshmi Vilas Bank is planning to offer a special rate of 9 per cent on 900 days term deposit. The offer is expected to be effected from April 27.
The rate is 0.20 per cent higher than those with a tenure of 901 days and above up to 3 years.
Long term deposits of 5 years and above would fetch a lower rate at 8.75 per cent compared to the rate offered for 901 to 3 year time bucket at 8.80 per cent.
9. SEBI ready to give VC funds more headroom to invest abroad
fter receiving feedback from various stakeholders, the Securities and Exchange Board of India on Friday proposed to allow venture capital funds to invest up to 25 per cent of their investible funds in foreign companies that having ‘Indian connection’. Currently, the cap is fixed at 10 per cent.
Need for enhancing limit
Indian connection would include companies having a front office overseas, but back office operations in India.
Many Indian entrepreneurs have been setting up their headquarters outside India with back-end or research and development operations in India. “Therefore, there is a need to allow higher overseas investment by VCs more than existing 10 per cent limit,” SEBI said.
Representatives are of the view that such investments would provide opportunities to the funds to generate better returns globally, getting exposure to the international markets practices, etc.
Indirect benefits
Industry stakeholders also expect such investments to generate indirect benefits to India through bringing in of non-debt creating foreign capital resources, technology upgradation, skill enhancement, new employment, etc.For AIFs, though there is no investment limit currently on their investment in securities of companies incorporated outside India, their investments will be subject to conditions of the RBI or SEBI from time to time.
1. Earthquake of magnitude 7.9 on the Richter scale struck Nepal
A high-intensity earthquake of magnitude 7.9 on the Richter scale struck Nepal on 25 April 2015. The epicenter of the quake was 80km east of Pokhra near Kathmandu, Nepal at a shallow depth of 11 kilometers (7 miles).
The powerful quake that rocked Nepal killed at least 100 people and several were injured. It also led to collapse of houses and centuries-old temples. The landmark Dharahara tower built in the 19th century in Kathmandu was reduced to rubble.
The quake also led to avalanche on Mount Everest.
The tremors of the quake, which is the worst in the Himalayan nation in over 80 years, were felt in northern India, Pakistan and Bangladesh. In India, the tremors were felt in Bihar, Uttar Pradesh, Rajasthan, Uttarakhand, Madhya Pradesh, West Bengal, Haryana, Assam, Manipur, Sikkim and Punjab.
Nepal suffered its worst earthquake of magnitude 8.0 in 1934. The quake destroyed the cities of Kathmandu, Bhaktapur and Patan.
2. Prime Minister Narendra Modi inaugurated India’s Healthcare Portal
Prime Minister Narendra Modi inaugurated India’s Healthcare Portal at the SAAARC Trade Mart in the Global Exhibition on Services, in ITPO, Pragati Maidan, New Delhi.
The portal is an authentic and dynamic information source which can effectively be used by any treatment seeker/potential medical tourist from across the globe.
At present, the portal covers 124 accredited medical facilities which include 93 medical centres, 30 Ayurveda and Wellness centres and 1 special category centre. 74 facilities are located in Tier I cites and the rest are in Tier II cities. The Healthcare Portal can be seen at www.indiahealthcaretourism.com
About the Healthcare Portal
• The Healthcare Portal was developed by the Department of Commerce, Union Government and the Services Export Promotion Council (SEPC)
• The portal is a comprehensive one-point information site and covers hospital-related and travel-related information on India
• The medical facilities on the Healthcare Portal are locatable by easy to search options by location, medical specialty, key procedures, language options available in hospitals and their certifications.
• The key medical and wellness procedures done by these institutions are highlighted.
• It also provides associated details like costs relating to treatment in hospitals in India, travel and visa formalities, last-mile connectivity, tariff options on stay, benefits of treatment in India, advance information on preparatory aspects in seeking medical care and others
3. World Malaria Day observed with theme Invest in the Future. Defeat Malaria
World Malaria Day (WMD) was observed on 25 April 2015. The theme for the 2013-2015 campaign is Invest in the Future. Defeat Malaria.
The day is observed to recognise the global efforts to control malaria. It is an occasion to highlight the need for continued investment and sustained political commitment for malaria control and elimination World Malaria Day was instituted by World Health Organization (WHO) Member States during the 2007 World Health Assembly.
On the occasion of the 2015 World Malaria Day (WMD), WHO called on the global health community to urgently address significant gaps in the prevention, diagnosis and treatment of malaria.
In its report, WHO said that malaria cases and deaths have significantly declined since 2000, but more than a million lives are still lost to this preventable disease each year. It says, that at least three quarters of malaria deaths occur in children under 5.
4. Russia, Argentina signed agreements on economic & energy co-operation
Russia and Argentina 2015 signed a series of framework agreements on economic and energy co-operation. The agreements were inked during the two-day visit of Argentine President Cristina Fernandez de Kirchner to Moscow.
Kirchner and Russian President Vladimir Putin termed the agreements as a comprehensive strategic partnership between the two countries.
The agreements include
• Russia agreed to finance the hydroelectric plant in Argentina’s Neuquen River
• Russia’s Rosatom nuclear corporation agreed to build a new reactor at Argentina’s Atucha 3 nuclear power plant
• A Memorandum of Co-operation (MoC) was signed on defence
The two leaders also agreed to consider use of their national currencies rather than US dollars in bilateral trade.
5.Turrialba Volcano erupted in Costa Rica
Turrialba volcano in Costa Rica erupted . The eruption led to rise of a column of gas and ash in the sky and forced closure of the airport in the capital city San Jose.
The blast from the Turrialba volcano in the east of the Central American country came after the Calbuco volcano in Chile erupted twice on 22 April and 24 April 2015.
About Turrialba volcano
• Turrialba Volcano is a 3340 m (10958 ft) high stratovolcano (composite volcano) near the Atlantic slope town of Turrialba
• The summit has three craters, one of which has fumaroles and sulfur pits. The largest crater has a diameter of 50 m (160 ft)
• Turrialba was inactive for 130 years until it came back to life in the 1990s and last time it erupted in March 2015
• Earlier in October 2014, it erupted with great force, spewing ash and magma and has been rumbling ever since
• Turrialba is adjacent to Irazú and both are among Costa Rica's largest volcanoes. It had at least five large explosive eruptions in last 3500 years
6. Union Government allowed EPFO to invest 5 percent of its corpus in stock market
Union Government allowed Employees’ Provident Fund Organisation (EPFO) to invest five percent of its corpus in Exchange Traded Funds (ETFs). The decision will result into an inflow of around five thousand crore rupees into the stock markets during fiscal 2015-16.
Union Labour Ministry has notified the new investment pattern for the EPFO, which allows the body to invest 5 per cent of its funds into ETFs.
The investment will begin by one percent and go up to five percent by the end of the financial year. As per estimates, the EPFO's incremental deposits for 2014-15 would be around 80 thousand crore rupees.
7. New India, Star Union, BoI tie up
Bank of India has partnered with insurance companies New India Assurance Co and Star Union Dai-ichi Life Insurance to roll out the government’s social security insurance schemes.“The New India Assurance and Star Union Dai-ichi Life Insurance Company will issue a group policy to the bank and the policy would start on June 1, 2015 for one year. Enrolment is likely to start from May 1,” the bank said in a statement. It added, “No proposal form is required from accountholders. An accountholder has to give auto-debit request form to the bank and will get acknowledgement- cum-certificate by the bank immediately. The claim request will be forwarded through the respective bank branch for settlement of claim.”
8. Lakshmi Vilas Bank to offer special 9% rate on 900 days deposit
Lakshmi Vilas Bank is planning to offer a special rate of 9 per cent on 900 days term deposit. The offer is expected to be effected from April 27.
The rate is 0.20 per cent higher than those with a tenure of 901 days and above up to 3 years.
Long term deposits of 5 years and above would fetch a lower rate at 8.75 per cent compared to the rate offered for 901 to 3 year time bucket at 8.80 per cent.
9. SEBI ready to give VC funds more headroom to invest abroad
fter receiving feedback from various stakeholders, the Securities and Exchange Board of India on Friday proposed to allow venture capital funds to invest up to 25 per cent of their investible funds in foreign companies that having ‘Indian connection’. Currently, the cap is fixed at 10 per cent.
Need for enhancing limit
Indian connection would include companies having a front office overseas, but back office operations in India.
Many Indian entrepreneurs have been setting up their headquarters outside India with back-end or research and development operations in India. “Therefore, there is a need to allow higher overseas investment by VCs more than existing 10 per cent limit,” SEBI said.
Representatives are of the view that such investments would provide opportunities to the funds to generate better returns globally, getting exposure to the international markets practices, etc.
For AIFs, though there is no investment limit currently on their investment in securities of companies incorporated outside India, their investments will be subject to conditions of the RBI or SEBI from time to time.
A high-intensity earthquake of magnitude 7.9 on the Richter scale struck Nepal on 25 April 2015. The epicenter of the quake was 80km east of Pokhra near Kathmandu, Nepal at a shallow depth of 11 kilometers (7 miles).The powerful quake that rocked Nepal killed at least 100 people and several were injured. It also led to collapse of houses and centuries-old temples. The landmark Dharahara tower built in the 19th century in Kathmandu was reduced to rubble.
The quake also led to avalanche on Mount Everest.
The tremors of the quake, which is the worst in the Himalayan nation in over 80 years, were felt in northern India, Pakistan and Bangladesh. In India, the tremors were felt in Bihar, Uttar Pradesh, Rajasthan, Uttarakhand, Madhya Pradesh, West Bengal, Haryana, Assam, Manipur, Sikkim and Punjab.
Nepal suffered its worst earthquake of magnitude 8.0 in 1934. The quake destroyed the cities of Kathmandu, Bhaktapur and Patan.
2. Prime Minister Narendra Modi inaugurated India’s Healthcare Portal
Prime Minister Narendra Modi inaugurated India’s Healthcare Portal at the SAAARC Trade Mart in the Global Exhibition on Services, in ITPO, Pragati Maidan, New Delhi.
The portal is an authentic and dynamic information source which can effectively be used by any treatment seeker/potential medical tourist from across the globe.
At present, the portal covers 124 accredited medical facilities which include 93 medical centres, 30 Ayurveda and Wellness centres and 1 special category centre. 74 facilities are located in Tier I cites and the rest are in Tier II cities. The Healthcare Portal can be seen at www.indiahealthcaretourism.com
About the Healthcare Portal
• The Healthcare Portal was developed by the Department of Commerce, Union Government and the Services Export Promotion Council (SEPC)
• The portal is a comprehensive one-point information site and covers hospital-related and travel-related information on India
• The medical facilities on the Healthcare Portal are locatable by easy to search options by location, medical specialty, key procedures, language options available in hospitals and their certifications.
• The key medical and wellness procedures done by these institutions are highlighted.
• It also provides associated details like costs relating to treatment in hospitals in India, travel and visa formalities, last-mile connectivity, tariff options on stay, benefits of treatment in India, advance information on preparatory aspects in seeking medical care and others
3. World Malaria Day observed with theme Invest in the Future. Defeat Malaria
World Malaria Day (WMD) was observed on 25 April 2015. The theme for the 2013-2015 campaign is Invest in the Future. Defeat Malaria.
The day is observed to recognise the global efforts to control malaria. It is an occasion to highlight the need for continued investment and sustained political commitment for malaria control and elimination World Malaria Day was instituted by World Health Organization (WHO) Member States during the 2007 World Health Assembly.
On the occasion of the 2015 World Malaria Day (WMD), WHO called on the global health community to urgently address significant gaps in the prevention, diagnosis and treatment of malaria.
In its report, WHO said that malaria cases and deaths have significantly declined since 2000, but more than a million lives are still lost to this preventable disease each year. It says, that at least three quarters of malaria deaths occur in children under 5.
4. Russia, Argentina signed agreements on economic & energy co-operation
Russia and Argentina 2015 signed a series of framework agreements on economic and energy co-operation. The agreements were inked during the two-day visit of Argentine President Cristina Fernandez de Kirchner to Moscow.
Kirchner and Russian President Vladimir Putin termed the agreements as a comprehensive strategic partnership between the two countries.
The agreements include
• Russia agreed to finance the hydroelectric plant in Argentina’s Neuquen River
• Russia’s Rosatom nuclear corporation agreed to build a new reactor at Argentina’s Atucha 3 nuclear power plant
• A Memorandum of Co-operation (MoC) was signed on defence
The two leaders also agreed to consider use of their national currencies rather than US dollars in bilateral trade.
5.Turrialba Volcano erupted in Costa Rica
Turrialba volcano in Costa Rica erupted . The eruption led to rise of a column of gas and ash in the sky and forced closure of the airport in the capital city San Jose.
The blast from the Turrialba volcano in the east of the Central American country came after the Calbuco volcano in Chile erupted twice on 22 April and 24 April 2015.
About Turrialba volcano
• Turrialba Volcano is a 3340 m (10958 ft) high stratovolcano (composite volcano) near the Atlantic slope town of Turrialba
• The summit has three craters, one of which has fumaroles and sulfur pits. The largest crater has a diameter of 50 m (160 ft)
• Turrialba was inactive for 130 years until it came back to life in the 1990s and last time it erupted in March 2015
• Earlier in October 2014, it erupted with great force, spewing ash and magma and has been rumbling ever since
• Turrialba is adjacent to Irazú and both are among Costa Rica's largest volcanoes. It had at least five large explosive eruptions in last 3500 years
6. Union Government allowed EPFO to invest 5 percent of its corpus in stock market
Union Government allowed Employees’ Provident Fund Organisation (EPFO) to invest five percent of its corpus in Exchange Traded Funds (ETFs). The decision will result into an inflow of around five thousand crore rupees into the stock markets during fiscal 2015-16.
Union Labour Ministry has notified the new investment pattern for the EPFO, which allows the body to invest 5 per cent of its funds into ETFs.
The investment will begin by one percent and go up to five percent by the end of the financial year. As per estimates, the EPFO's incremental deposits for 2014-15 would be around 80 thousand crore rupees.
7. New India, Star Union, BoI tie up
Bank of India has partnered with insurance companies New India Assurance Co and Star Union Dai-ichi Life Insurance to roll out the government’s social security insurance schemes.“The New India Assurance and Star Union Dai-ichi Life Insurance Company will issue a group policy to the bank and the policy would start on June 1, 2015 for one year. Enrolment is likely to start from May 1,” the bank said in a statement. It added, “No proposal form is required from accountholders. An accountholder has to give auto-debit request form to the bank and will get acknowledgement- cum-certificate by the bank immediately. The claim request will be forwarded through the respective bank branch for settlement of claim.”
8. Lakshmi Vilas Bank to offer special 9% rate on 900 days deposit
Lakshmi Vilas Bank is planning to offer a special rate of 9 per cent on 900 days term deposit. The offer is expected to be effected from April 27.
The rate is 0.20 per cent higher than those with a tenure of 901 days and above up to 3 years.
Long term deposits of 5 years and above would fetch a lower rate at 8.75 per cent compared to the rate offered for 901 to 3 year time bucket at 8.80 per cent.
9. SEBI ready to give VC funds more headroom to invest abroad
fter receiving feedback from various stakeholders, the Securities and Exchange Board of India on Friday proposed to allow venture capital funds to invest up to 25 per cent of their investible funds in foreign companies that having ‘Indian connection’. Currently, the cap is fixed at 10 per cent.
Need for enhancing limit
Indian connection would include companies having a front office overseas, but back office operations in India.
Many Indian entrepreneurs have been setting up their headquarters outside India with back-end or research and development operations in India. “Therefore, there is a need to allow higher overseas investment by VCs more than existing 10 per cent limit,” SEBI said.
Representatives are of the view that such investments would provide opportunities to the funds to generate better returns globally, getting exposure to the international markets practices, etc.
Indirect benefits
Industry stakeholders also expect such investments to generate indirect benefits to India through bringing in of non-debt creating foreign capital resources, technology upgradation, skill enhancement, new employment, etc.For AIFs, though there is no investment limit currently on their investment in securities of companies incorporated outside India, their investments will be subject to conditions of the RBI or SEBI from time to time.
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