Current Affairs For Bank, IBPS Exams - 30 April, 2014

Current Affairs For Bank, IBPS Exams

After resisting for more than three years, the Centre has revealed names of 18 persons in the Supreme Court who allegedly stashed black money with LST bank in Liechtenstein and against whom prosecution have been launched by the Income Tax department.
The names, listed in Centre's affidavit, include Mohan Manoj Dhupelia, Ambrish Manoj Dhupelia, Bhavya Manoj Dhupelia, Manoj Dhupelia and Rupal Dhupelia from Ambrunova Trust and Marline Management.
Centre said that IT department also found evidence against against four members of Manichi Trust — Hasmuk Ishwarlal Gandhi, Chintan Hasmukh Gandhi, Madhu Hasmukh Gandhi and Late Mirav Hasmukh Gandhi. It said that prosecution has been initiated against Chandrakant Ishwarlal Gandhi, Rajest Chandrakant Gandhi, Viraj Chandrakant Gandhi and Dhanalaxmi Chandrakant Gandhi from Ruvisha Trust.
Notwithstanding the Supreme Court order in 2011 to make public the names of account holders in LGT bank received by it in 2009 from German tax authorities, Centre has not done so, drawing the ire of the apex court.

India's gems and jewellery exports dropped 11% in the last fiscal from a year before to $34.74 billion, mainly because outbound shipments of gold jewellery and medallions tumbled due to curbs on raw material supplies.
Importantly, the annual exports of gems and jewellery dropped at an even faster pace in March, by 28.1% to $4.37 billion, the data revealed. Gold jewellery and medallion exports crashed 39.5% in the last fiscal to $11,045.92 million from a year earlier.
Jewellers and industry executives said high premiums, 10% customs duty and restrictions on gold supplies have raised raw material costs for domestic jewellers, driving down exports. While a 40% plunge in gold and silver imports helped reduce the CAD last fiscal, a drop in gems and jewellery exports can be counter-productive, especially for the jewellery manufacturing sector.
To control the CAD, the government raised the import duty on the precious metal three times last year to 10% from 4% and the RBI mandated that at least one-fifth of the imported gold be kept aside for re-exports. The RBI also directed that no fresh tranche of imports by a trader would be allowed until 20% of the previous imported volume is exported after value addition, also aimed at promoting exports.

The orbit of the International Space Station (ISS) will be corrected by raising it by 2.15 kilometres.
The maneouver were carried out using the thrusters of the Progress M-21M cargo spacecraft.
The station was raised to the altitude of 415.2 kilometres and the adjustment is made to ensure better docking conditions of the Soyuz TMA-13M spacecraft, which is scheduled to blast off from the Baikonur space centre in Kazakhstan on May 28 to bring a new crew to the ISS.
The Progress M-21M docked with the orbital station on November 30. The docking operation was being carried out by means of the new approach system in an automatic mode.

Real Madrid reached their first Champions League final for 12 years with an historic 4-0 win at Bayern Munich in semifinal, second leg to knock the holders out.
Having won last week's first leg 1-0 in Madrid, Real won the semifinal 5-0 on aggregate as Pep Guardiola's Bayern suffered their heaviest home defeat in European competition.
Bayern had previously never lost at home by more than two goals in Europe as the Bavarian giants saw their dreams of reaching a fourth Champions League final in five years crushed.