Current Affairs For Bank, IBPS Exams - 28 June, 2014

Current Affairs For Bank, IBPS Exams

The Union Commerce Ministry is trying to modify the Price Stabilisation Fund Scheme so as to lower the price threshold at which the fund gets activated. The Rs.500-crore Fund, which lapsed in 2013, is being re-launched, according to a Union Commerce Ministry official.
The commodity fund was established in 2003 to help industries engaged in producing four commodities —- tea, coffee, tobacco and natural rubber. The idea behind setting up the fund was to help the trade stay in business by extending them support if there is a drop in their commodity prices… the idea was to establish India as a reliable supplier in the international markets.

Top executives of American pharma companies favour ‘dialogue’ with India and ‘not confrontation’ to address their concerns on key issues like the protection of intellectual property (IP) and clinical trials.
Arguing that global pharma companies share the same goal of ‘patient first’ with that of the Indian government, corporate executives attending the day-long ‘U.S.-India BioPharma and Healthcare Summit’, organised by the USA-India Chamber of Commerce.

The Gujarat High Court issued notices to Adani Power Ltd. and Adani Port and Special Economic Zone (SEZ) Ltd. in response to a PIL petition alleging that the firms had violated environmental norms in the State’s Kutch district.
A Division Bench of Chief Justice Bhaskar Bhattacharya and Justice J.B. Pardiwala also issued notices to the Ministry of Environment and Forests, the Gujarat Pollution Control Board and the Kutch Collectorate.
The Kheti Vikas Seva Trust, a Kutch-based organisation, filed the petition calling for adherence to the MoEF’s conditions.

The representatives of the United Forum of Bank Unions (UFBU) met Union Finance Minister Arun Jaitley, seeking his intervention for early conclusion of signing of 10{+t}{+h}wage negotiation for the banking sector.
During the meeting , the members of public sector banks submitted a memorandum in which they asked the Finance Minister to take into consideration the inflation factor. In the memorandum, the members said the salary increase should reflect the erosion in wages on account of price spiral and high rate of inflation in the recent years.