Current Affairs of 25 May 2015

1. Manoj Mishra appointed as CMD of National Fertilizers Limited
Manoj Mishra was  appointed as the Chairman and Managing Director (CMD) of state-run National Fertilizers Limited (NFL). The post of NFL's CMD fell vacant after the retirement of Neeru Abrol in February 2014.
Mishra is currently serving as the Director (Finance) at State Trading Corporation (STC). Mishra is a cost accountant by qualification. He began his career from fertiliser company Kribhco and worked there for 23 years.
NFL has five gas-based urea plants at Nangal & Bathinda in Punjab, Panipat in Haryana and two plants at Vijaipur in District Guna, Madhya Pradesh. The company has a total annual installed capacity of 35.68 lakh tonnes and is the second largest producer of urea in the country.

2. Bank unions, IBA sign bipartite agreement
The Indian Banks’ Association signed the 10th bipartite agreement with five employee unions in Mumbai on Monday.
The signatories included eight representatives on behalf of 43 member banks and 56 workmen representatives on behalf of five bank unions - AIBEA, NCBE, BEFI, NOBW and INBEF.
With this, bankers will receive a 15 per cent hike in their salary slip component and would translate into an increase of Rs. 2,270 crore – the salary slip component of establishment expenses of public sector banks which are parties to this settlement for FY12.
The new salary of pay would be constructed, after the merging dearness allowance corresponding to 4440 points and with a loading of about two per cent. As per the agreement, bankers will have a holiday on every every second and fourth Saturday of the month and the other Saturdays would be full working days.
The bank unions had submitted a charter of demands to the IBA in October 2012 for revising the wages and service conditions of bankers requesting for negotiations. IBA had on its part raised issues related to improving the efficiency of bank operations.
All other issues of the management and workmen unions discussed during the process of negotiations would be settled to their mutual satisfaction. The parties had signed and exchanged minutes in this regard on February 23, 2015 in Mumbai.

3. Now, you can make ICICI Bank transactions using voice!
ICICI Bank, India’s largest private sector bank, launched a voice recognition service which authenticates customers based on their speech patterns and allows them to execute banking transactions through the bank’s call centre.
“The-first-of-its kind service, it is available to over 33 million customers of its savings account and credit card. With the voice recognition technology in place, customers are no longer required to enter their card numbers, PIN and answer security questions to authenticate themselves. Their voice will now act as the password for banking transactions through the call centre,” ICICI Bank said in a statement.
This will benefit all savings bank and credit card customers.
Chanda Kochhar, MD & CEO, ICICI Bank said, "We have noticed that the customers, especially those who use smart phones, find it difficult to enter the 16-digit card number and the 4-digit PIN with accuracy and at a reasonable speed. We wanted to offer them a secure and hands-free alternative to the traditional on-screen commands on smart phones. The voice recognition service has the potential to increase security and convenience."

4.  Tanishq Abraham, 11-year-old Indian-American creates record by graduating from California College

Creating a record of sorts, an 11-year-old Indian-American schoolboy has surprised one and all by graduating from a California college with three associate degrees in maths, science and foreign language studies.

Unlike children of his age who are seen scrolling through iPads and smartphones or are into music and games, Tanishq Abraham graduated from American River College in Sacramento (ARC), California, alongside 1,800 students and wants to become the President of the United States. Abraham, a native of Sacramento, is the youngest to graduate from the college this year.

"The assumption is that he's the all-time youngest," American River College spokesman Scott Crow told NBC News.

Abraham last year became one of the youngest ever in the US to graduate high school.

Home-schooled since the age of 7, Abraham passed a state exam in March last year that certified he had met the appropriate academic standards to receive his high school diploma. His achievement last year had earned the attention of President Barack Obama -- who had sent Tanishq a congratulatory letter

5. China sets up "largest" gold fund for nations along Silk Road

China, the world's biggest gold producer, has set up a gold sector fund involving countries along the ancient Silk Road which is expected to raise USD 16.1 billion.

The fund, led by Shanghai Gold Exchange (SGE), is expected to raise an estimated 100 billion yuan (USD 16.1 billion) in three phases, state-run Xinhua news agency reported. It is said to be the "largest fund" set up by China.

The fund has been set up in northwest Xi'an city during an ongoing forum on investment and trade.

China is the world's largest gold producer, and also a major importer and consumer of gold.

Among the 65 countries along the routes of the Silk Road Economic Belt and the 21st-Century Maritime Silk Road, there are numerous Asian countries identified as important reserve bases and consumers of gold.

About 60 countries have invested in the fund, which will in turn facilitate gold purchase for the central banks of member states to increase their holdings of the precious metal, the report said.

"China does not have a big say in gold pricing because it accounts for a small share of international gold trade," 

"Therefore, the Chinese government seeks to increase the influence of RMB in gold pricing by opening the domestic gold market to international investors,

6. Indian boxers clinch 4 gold, 1 silver, 2 bronze medals in Doha Boxing Tournament

Indian boxers have rounded off a brilliant run at the Doha International Tournament by winning four gold, one silver and two bronze medals. Gold medal winners are L Devendro Singh in 49 kg category by defeating Aldren Moreno of Philippines by 3:0. Shiva Thapa in 56kg category by defeating HYM Abdelaal of Egypt by 2:1. Manish Kaushik in 60 kg category by defeating Rabi Hamza of Morocco by 3:0. Manoj Kumar in 64 kg category by defeating Magliquian Nicole of Philippines by 3:0. The silver medal was won by Gaurav Bidhuri in 52 kg category. While Mandeep Jangra and Vikas Krishan bagged bronze medals in 69kg and 75kg categories respectively.

7. Uttar Pradesh government amended State Film Policy to woo tourism
Uttar Pradesh Government amended State Film Policy to woo tourism. Chief Minister of Uttar Pradesh (UP) Akhilesh Yadav inaugurated the UP Film Bnadhus’s Website and signed a Memorandum of Understanding (MoU) to set up a film city.
Also, UP Government under the amended policy has increased the subsidy given to the film maker to encourage film production in the state. Each film produced in UP is now entitled to a subsidy of 2 crore rupees.
U.P. Film Policy booklet was also launched during the event, Akhilesh Yadav also presented a cheque of 2 crore rupees to Jaanisaar's filmmaker Muzaffar Ali. 

1. Manoj Mishra appointed as CMD of National Fertilizers Limited
Manoj Mishra was  appointed as the Chairman and Managing Director (CMD) of state-run National Fertilizers Limited (NFL). The post of NFL's CMD fell vacant after the retirement of Neeru Abrol in February 2014.
Mishra is currently serving as the Director (Finance) at State Trading Corporation (STC). Mishra is a cost accountant by qualification. He began his career from fertiliser company Kribhco and worked there for 23 years.
NFL has five gas-based urea plants at Nangal & Bathinda in Punjab, Panipat in Haryana and two plants at Vijaipur in District Guna, Madhya Pradesh. The company has a total annual installed capacity of 35.68 lakh tonnes and is the second largest producer of urea in the country.

2. Bank unions, IBA sign bipartite agreement
The Indian Banks’ Association signed the 10th bipartite agreement with five employee unions in Mumbai on Monday.
The signatories included eight representatives on behalf of 43 member banks and 56 workmen representatives on behalf of five bank unions - AIBEA, NCBE, BEFI, NOBW and INBEF.
With this, bankers will receive a 15 per cent hike in their salary slip component and would translate into an increase of Rs. 2,270 crore – the salary slip component of establishment expenses of public sector banks which are parties to this settlement for FY12.
The new salary of pay would be constructed, after the merging dearness allowance corresponding to 4440 points and with a loading of about two per cent. As per the agreement, bankers will have a holiday on every every second and fourth Saturday of the month and the other Saturdays would be full working days.
The bank unions had submitted a charter of demands to the IBA in October 2012 for revising the wages and service conditions of bankers requesting for negotiations. IBA had on its part raised issues related to improving the efficiency of bank operations.
All other issues of the management and workmen unions discussed during the process of negotiations would be settled to their mutual satisfaction. The parties had signed and exchanged minutes in this regard on February 23, 2015 in Mumbai.

3. Now, you can make ICICI Bank transactions using voice!
ICICI Bank, India’s largest private sector bank, launched a voice recognition service which authenticates customers based on their speech patterns and allows them to execute banking transactions through the bank’s call centre.
“The-first-of-its kind service, it is available to over 33 million customers of its savings account and credit card. With the voice recognition technology in place, customers are no longer required to enter their card numbers, PIN and answer security questions to authenticate themselves. Their voice will now act as the password for banking transactions through the call centre,” ICICI Bank said in a statement.
This will benefit all savings bank and credit card customers.
Chanda Kochhar, MD & CEO, ICICI Bank said, "We have noticed that the customers, especially those who use smart phones, find it difficult to enter the 16-digit card number and the 4-digit PIN with accuracy and at a reasonable speed. We wanted to offer them a secure and hands-free alternative to the traditional on-screen commands on smart phones. The voice recognition service has the potential to increase security and convenience."

4.  Tanishq Abraham, 11-year-old Indian-American creates record by graduating from California College

Creating a record of sorts, an 11-year-old Indian-American schoolboy has surprised one and all by graduating from a California college with three associate degrees in maths, science and foreign language studies.

Unlike children of his age who are seen scrolling through iPads and smartphones or are into music and games, Tanishq Abraham graduated from American River College in Sacramento (ARC), California, alongside 1,800 students and wants to become the President of the United States. Abraham, a native of Sacramento, is the youngest to graduate from the college this year.

"The assumption is that he's the all-time youngest," American River College spokesman Scott Crow told NBC News.

Abraham last year became one of the youngest ever in the US to graduate high school.

Home-schooled since the age of 7, Abraham passed a state exam in March last year that certified he had met the appropriate academic standards to receive his high school diploma. His achievement last year had earned the attention of President Barack Obama -- who had sent Tanishq a congratulatory letter

5. China sets up "largest" gold fund for nations along Silk Road

China, the world's biggest gold producer, has set up a gold sector fund involving countries along the ancient Silk Road which is expected to raise USD 16.1 billion.

The fund, led by Shanghai Gold Exchange (SGE), is expected to raise an estimated 100 billion yuan (USD 16.1 billion) in three phases, state-run Xinhua news agency reported. It is said to be the "largest fund" set up by China.

The fund has been set up in northwest Xi'an city during an ongoing forum on investment and trade.

China is the world's largest gold producer, and also a major importer and consumer of gold.

Among the 65 countries along the routes of the Silk Road Economic Belt and the 21st-Century Maritime Silk Road, there are numerous Asian countries identified as important reserve bases and consumers of gold.

About 60 countries have invested in the fund, which will in turn facilitate gold purchase for the central banks of member states to increase their holdings of the precious metal, the report said.

"China does not have a big say in gold pricing because it accounts for a small share of international gold trade," 

"Therefore, the Chinese government seeks to increase the influence of RMB in gold pricing by opening the domestic gold market to international investors,

6. Indian boxers clinch 4 gold, 1 silver, 2 bronze medals in Doha Boxing Tournament

Indian boxers have rounded off a brilliant run at the Doha International Tournament by winning four gold, one silver and two bronze medals. Gold medal winners are L Devendro Singh in 49 kg category by defeating Aldren Moreno of Philippines by 3:0. Shiva Thapa in 56kg category by defeating HYM Abdelaal of Egypt by 2:1. Manish Kaushik in 60 kg category by defeating Rabi Hamza of Morocco by 3:0. Manoj Kumar in 64 kg category by defeating Magliquian Nicole of Philippines by 3:0. The silver medal was won by Gaurav Bidhuri in 52 kg category. While Mandeep Jangra and Vikas Krishan bagged bronze medals in 69kg and 75kg categories respectively.

7. Uttar Pradesh government amended State Film Policy to woo tourism
Uttar Pradesh Government amended State Film Policy to woo tourism. Chief Minister of Uttar Pradesh (UP) Akhilesh Yadav inaugurated the UP Film Bnadhus’s Website and signed a Memorandum of Understanding (MoU) to set up a film city.
Also, UP Government under the amended policy has increased the subsidy given to the film maker to encourage film production in the state. Each film produced in UP is now entitled to a subsidy of 2 crore rupees.
U.P. Film Policy booklet was also launched during the event, Akhilesh Yadav also presented a cheque of 2 crore rupees to Jaanisaar's filmmaker Muzaffar Ali.