Current Affairs For Bank, IBPS Exams - 06 February, 2014

Current Affairs For Bank, IBPS Exams

India has warned the United States of consequences for its companies if lawmakers tighten visa rules on high-tech firms as part of an immigration overhaul.
India would see a decision to restrict certain temporary visas for skilled workers as a sign that the US economy is becoming less open for business.
The Republican leadership of the House of Representatives recently laid out general principles for an overhaul of immigration — whose main goal would be to give legal status to the estimated 11 million undocumented foreigners in the United States.
The Senate bill, while increasing the overall number of H-1B visas available, would hike fees and restrict additional H-1B visas for companies considered dependent on such foreign workers. The move came after complaints by US companies and labor groups that Indian tech firms bring in their own, lower-paid employees rather than hiring Americans.

The government has allowed 26 percent foreign investment in activities related to insurance, like broking, third party administrators and surveyors, and permitted FIIs and NRIs to also invest in insurers within the stipulated cap.
Under the norms notified, 26 percent foreign investment, including foreign direct investment (FDI), Foreign Institutional Investors (FII) and Non-Resident Indians (NRI) will be allowed under the automatic route in insurance companies, insurance brokers, Third Party Administrators (TPAs), surveyors and loss assessees.
The decision will come into force with immediate effect, the note added. Insurance brokers are entities which, for remuneration, arrange insurance contracts with insurers or reinsurers on behalf of their clients. TPAs help in facilitating health insurance on behalf of insurers.
All these entities are required to obtain a licence from the IRDA for undertaking specific activities. The relaxation falls short of the demand of insurance industry which has been pleading for hiking the FDI cap in the sector to 49 per cent, from 26 per cent at present. The Insurance Laws Amendment Bill, which seeks to raise the cap, has been pending in Parliament since 2008 and is unlikely to be taken up in the ongoing session due to lack of political consensus.

India's top squash player Dipika Pallikal has returned to the top 10 of the world rankings for the first time since December 2012.
The 22-year-old moved two places to be no.10 in the latest Women's Squash Association (WSA) rankings despite enduring a tough start to the year.
Dipika's improvement in the rankings can be attributed to her performance towards the end of 2013 when she won the $35,000 Macau Open and reached the quarterfinals of the $50,000 China Open in Shanghai.
The Chennai-born player, who was recently honoured with the Padma Shri, opened her 2014 campaign at the Tournament of Champions in New York where she lost in the qualifiers to Annie Au of Hong Kong.

Cricket legends Sachin Tendulkar and Shane Warne are slated to lead the two teams in an exhibition match to celebrate the 200th anniversary of Lord's, the original Mecca of the sport.
Tendulkar will lead the Marylebone Cricket Club (MCC), the owners of the north-west London venue, while the Aussie spin magician headlines a Rest of the World side in a 50-overs per side exhibition match on July 5.
Tendulkar, who was presented with an MCC Honorary Life Membership in 2010, also said that it will be a privilege to play at the 'home of cricket' once again, while Warne, who took 19 wickets in four Tests at Lord's, said that he is sure that the match will be a lot of fun.
MCC, founded in 1787, moved to its present site in the north-west London suburb of St John's Wood in 1814, with the ground owned by entrepreneur Thomas Lord - hence its name.
Although it is more than 40 years since MCC ceased to run English cricket, it retains worldwide responsibility for the game's 'Laws', as cricket's rules are known.