Current Affairs For Bank, IBPS Exams - 02 January, 2014

Current Affairs For Bank, IBPS Exams

02 January 2014

FDI in high-speed trains, other projects

The government is likely to allow Foreign Direct Investment in high-speed trains and other projects including development of rail lines between project sites and existing network.
Besides, proposing 100 per cent FDI through automatic route in the cash-starved railway sector, the Department of Industrial Policy and Promotion (DIPP) has also proposed to de-licence and de-reserve few areas of the sector.
However, FDI will not be allowed in train operations and safety. At present, there is a complete ban on any kind of foreign direct investment (FDI) in the railways sector except mass rapid transport systems.
According to the proposal, foreign investment would also be allowed in suburban corridor, high speed train systems and dedicated freight line projects implemented in PPP mode.
It has also suggested widening the definition of ‘infrastructure’ by including railway line and railway sidings.
As per the proposal, foreign companies would be allowed to pick up 100 per cent stake in the special purpose vehicle (SPV) that will construct and maintain rail lines connecting ports, mines and industrial hubs with the existing rail network.
First-to-last mile connectivity would mean smooth movement of raw materials from mines to ports.
The move will help in attracting more and more FDI besides development of infrastructure for industrial purposes.
Indian Railways has been facing a cash problem. Industrial development and exports have been suffering on account of poor infrastructure which hampers output and raises the cost of production.
Welcoming the development, experts said the government should come out with clear rules for Public-Private-Partnership (PPP) projects.

Sebi’s focus areas for 2014

Looking to safeguard the interest of small investors and overall market place, Sebi has identified a greater oversight mechanism on insider trading and a stronger risk management framework as among key focus areas for 2014.
Sebi is currently in the process of overhauling its nearly two decade old insider trading norms, pursuant to which those indulging in unlawful insider trading activities would be dealt with severely.
Many new categories of persons, including public servants, regulatory officials, judiciary and government officials dealing with unpublished price-sensitive information are being brought under the purview of insider trading.
At the same time, new norms would also seek to clearly differentiate between 'innocent mistakes' and genuine transactions of company executives from the unlawful and serious trading offences.
Often, comparisons have been made between regulatory action against insider trading in India and the US, where some high-profile cases including that of former banker Rajat Gupta has come to light in recent months.

The fastest centurion in ODIs

New Zealand all-rounder Corey Anderson scored the quickest century ever in international cricket on Wednesday, taking just 36 balls against West Indies to break the record long held by Pakistan's Shahid Afridi.
Afridi scored a 37-ball hundred against Sri Lanka in 1996 and had remained the fastest across all formats of the international game since.
Anderson, 23, brought up the mark with his 12th six of the innings after the third one-day international in Queenstown was reduced to a 21-over match due to rain.

Hockey World League tickets

Sale of tickets for the Hero Hockey World League (HWL) final, to be held at the National Stadium here from January 10 to 18, has started.
Tickets, which can be booked online at www.ticketgenie.in, have been priced at Rs. 50 each for general admission and Rs. 1000 for VIP seating.
Fans can also buy tickets from 16 ‘Twenty Four Seven’ retail stores and 14 Mobile Stores across Delhi and the National Capital Region.
India has been grouped with Germany, England and New Zealand in Pool ‘A’. Australia, Netherlands, Belgium and Argentina are placed in Pool ‘B’.
India will open its campaign against England (January 10), followed by New Zealand (January 11) and Germany (January 13).