RBI relaxes rules for FII in debt

January 30th, 2013

 

The Reserve Bank of India (RBI) has notified certain relaxations in the rules for FII in debt, these are:

• The investment limit in Government Securities (G-Secs) by Foreign Institutional Investors (FIIs) and long-term investors has been enhanced by $5 billion to $25 billion from current $20 billion.
• The investment limit in corporate bonds by FIIs has also been increased by $5 billion $50 billion from current $45 billion.

• Investment rules have been eased by removing the maturity restrictions for first time foreign investors on dated G-Secs. Earlier, first time foreign investors of G-Secs were mandated to buy securities with at least 3-year residual maturity. However, such investments will not be allowed in short-term paper like Treasury Bills.
• Foreign investors are also restricted from buying certificates of deposits and commercial paper.
• The RBI specified a sub-limit of $25 billion each for infrastructure and other than infrastructure sector bonds within the total corporate debt limit of $50 billion.
• Qualified Foreign Investors (QFIs) will remain eligible to invest in corporate debt securities (without any lock-in or residual maturity clause) and mutual fund debt schemes, subject to a total overall ceiling of $1 billion.
• Foreign investors have been dispensed with the condition of one year lock-in period for the limit of $22 billion (comprising the limits of infrastructure bonds of $12 billion and $10 billion for non-resident investment in IDFs) within the overall limit of $25 billion for foreign investment in infrastructure corporate bond.
• The residual maturity period (at the time of first purchase) requirement for the entire limit of $22 billion for foreign investment in the infrastructure sector has been uniformly kept at 15 months. The 5-year residual maturity requirement for investments by QFIs within the $3 billion limit has been brought down to 3 years original maturity.

Who are long-term investors?
Long-term investors include SEBI-registered sovereign wealth funds (SWFs), multilateral agencies, endowment funds, insurance funds, pension funds and foreign central banks.

 

Delhi eliminates Leprosy

Delhi eliminates Leprosy

January 30th, 2013

India’s capital New Delhi has got rid of Leprosy as a public health problem, as the incidence rate of leprosy has declined from 4.5 cases per 10,000 of population in 2001 to 0.8 cases at present.
As per WHO guidelines, when the number of leprosy patients gets reduced to below 1 case per 10,000 populations, the disease is considered to have been eliminated as a public health problem.
Leprosy is a bacterial disease caused by the bacteria Mycobacterium leprae which affects mainly the skin and nerves. It takes 2 to 5 years for the symptoms to be visible as the disease progresses slowly.

DRDO begins AWACS programme

DRDO begins AWACS programme

January 28th, 2013

India’s  Defence Research and Development Organisation (DRDO) has just taken up development of the Rs 6,000 crore Airborne Warning and Control System (AWACS).
What is AWACS?
AWACS is acronym of Airborne Warning and Control System.
To know more about AWACS follow links:

• Link-1
• Link-2

How is it different from indigenous Airborne Early Warning and Control (AEW&C)?
AWACS is a heavier and high endurance system, which can give you in terms of coverage about 360 degrees as against AEW&C which is about 270 degree coverage.
Besides this, (compared to AEW&C) AWACS flies at a higher altitude and it can penetrate into the enemy territory – not physically – (but) by way of radars and EW (electronic warfare) systems to longer distances and it can be in sky for larger durations, besides giving better visibility.

India to test fire sub-sonic missile Nirbhay

India to test fire sub-sonic missile Nirbhay

January 28th, 2013

As per Defence Research and Development Organisation (DRDO), India would test fire sub-sonic, medium range cruise missile Nirbhay in Feb 2013. The missile is being developed by Aeronautical Development Establishment (ADE), a DRDO lab.
Nirbhay:

• All-weather low-cost medium-range cruise missile with stealth and high accuracy.
• Range of 1,000 km.
• It will carry a ring laser gyroscope for high-accuracy navigation and a radio altimeter for the height determination.
• Capable of being launched from multiple platforms on land, sea and air and shall be inducted into Indian Navy, Army, and Air Force.
• Capable of carrying nuclear warheads.
• Capable of flying at different altitudes ranging from 500 m to 4 km above the ground.
• Good loitering capability, control and guidance with high degree of accuracy for maximum impact.
• Nirbhay will supplement the Brahmos cruise missile by carrying warheads beyond the 300-km range.

World’s first cloned buffalo delivers a calf

World’s first cloned buffalo delivers a calf

January 28th, 2013

Garima II which is world’s first cloned buffalo has delivered a healthy and normal calf at the Karnal-based National Dairy Research Institute (NDRI).
The calf, named Mahima, was born through ‘hand-guided cloning technique’. It is the first calf born from a cloned buffalo in the world. Garima II was inseminated with frozen-thawed semen of a progeny tested bull of NDRI.

India is part of World’s largest optical telescope project

India is part of World’s largest optical telescope project

January 26th, 2013

Indian scientists will render significant contribution in developing key components of the world’s largest optical telescope to be set up by a 5-nation consortium including India.
The Thirty Metre Telescope (TMT), also known as the world’s most advanced ground-based observatory, will be built at the summit of Mauna Kea volcano in Hawaii at a cost of $1.2 billion.
Who are the partner countries?
There are five nations collaborating in the project:

1. India
2. China
3. Japan
4. Canada
5. United States

What is so special about TMT?

• 81 times more sensitive than the current telescopes of its kind and resolve objects by a factor of 3 times better than the largest ground-based telescopes that are available at present across the world.
• Will be the world’s most advanced ground-based observatory that will be operating in optical and mid-infrared wavelengths.

What will be the contribution of India?
In this project 15% of the 492 mirror segments, each 1.44 m in size, will be fabricated in India. The Indian companies will be supplying high-end components such as edge sensors, actuators, segment support assemblies and provide services such as polishing of the mirror segments, and software to control the operations of the telescope, the mirror, and telescope dome. India is making a contribution of 10% – 70 % of it in kind and 30% in cash. Currently, India has a status of an observer and it is in the process of becoming a permanent member.

SC prohibits tourists from entering Jarawa tribe habitat

SC prohibits tourists from entering Jarawa tribe habitat

January 26th, 2013

The apex court banned all tourist movements in the habitat of extremely endangered Jarawa tribe in Andaman and Nicobar and also sought to know from Andaman & Nicobar Island administration whether it intended to keep the tribe, which has a thin population of just over 300, in isolation or to be assimilated in the mainstream.
The court banned the movement of all tourist vehicles through the 46-km Andaman Trunk Road that links North Andaman to its southern part passing through the tribe’s habitat till February 26, 2013.
What is the issue?
The matter dates back to January, 2012, when two British dailies had released outraging videos showing semi-naked Jarawa men and women dancing before tourists as part of alleged ‘human safari’. In the video, the tourists were seen throwing money, food and bananas at the tribal people. After this incidence, the government ordered inquiry.
In May 2012, the court had upheld the island administration’s decision to ban private tour operators from the 5-km buffer zone but sternly warned that no government operated tours would be permitted in the area either.
The notification had declared an area up to 5 km radius of Jarawa Tribal Reserve, from boundary line starting from Constance Bay in South Andaman to Lewis Inlet Bay in Middle Andaman, as buffer zone.
Where do Jarawas live and why they are being protected?
Jarawas are highly vulnerable to diseases and viruses carried by the urban population and they live in forests in the western coasts of South and Middle Andaman Islands.

Supreme Court: A non-member can also move Speaker for disqualification of defectors

January 24th, 2013

 As per the latest ruling of the apex court, not only an MLA but any interested person has the right to inform the Speaker of the fact that a member has incurred disqualification under the Tenth Schedule of the Constitution (anti-defection law) and the presiding officer is bound to take action on the complaint. What is the issue?
The Nationalist Congress Party (NCP) President Utkar Keshari Parida, who is not an MLA, had filed an application to the Speaker seeking disqualification of all 4 MLAs who defected the party and joined Biju Janata Dal (BJD). However. The Speaker took no action. Parida moved the Orissa High Court which held that the writ petition was maintainable. The Supreme Court dismissed the Speaker’s appeal against the ruling which said “Although disqualified under paragraph 2(1) (a) of the Tenth Schedule, in the absence of any application for disqualification to the Speaker, they [the four MLAs] would continue to function as members of the Assembly, which was not the object sought to be achieved by the 52nd Amendment, by which the Tenth Schedule was introduced in the Constitution.” It held that the Statement of Objects and Reasons of the Bill, which finally became the Constitution 52^nd Amendment Act, 1985, indicated that the evil of political defection had become a serious problem and if it was not curbed, it could very well undermine the very foundation of our democracy and the principles which sustain the same. In such an event, if the provisions of the Tenth Schedule are interpreted to exclude the right of any person interested to bring to the notice of the Speaker of the House the fact that any or some of its members had incurred disqualification on any of the eventualities indicated in paragraphs 2 and 4 therein, it would render the inclusion of the Tenth Schedule in the Constitution otiose and defeat the objects and intent of the 52nd Amendment.

Winners of 58th Idea Filmfare Awards

January 24th, 2013

 

The grand Annual 58th Idea Filmfare Awards event was organized in Mumbai. The following are the winners under various categories: POPULAR AWARDS:

• Best Actor (Male): Ranbir Kapoor (Barfi!)
• Best Actor (Female): Vidya Balan (Kahaani)
• Best Film: Barfi!
• Best Director: Sujoy Ghosh (Kahaani)
• Best Supporting Actor (Male): Annu Kapoor (Vicky Donor)
• Best Supporting Actor (Female): Anushka Sharma (Jab Tak Hai Jaan)

• Best Debut (Male) Ayushmann Khurrana (Vicky Donor)
• Best Debut (Female) Ileana D’Cruz (Barfi!)
• Best Music Director: Pritam (Barfi!)
• Best Lyrics: Gulzar (Challa) (Jab Tak Hai Jaan)
• Best Playback Singer (Male): Ayushmann Khurrana (Paani Da Rang, Vicky Donor)
• Best Playback Singer (Female): Shalmali Kholgade (Pareshaan, Ishaqzaade)
• Best Debut Director: Gauri Shinde (English Vinglish)
• Best Dialogue: Anurag Kashyap, Akhilesh Jaiswal, Sachin K Ladia, Zeishan Qadri (Gangs of Wasseypur)
• Best Screenplay: Sanjay Chouhan & Tigmanshu Dhulia (Paan Singh Tomar)
• Best Story: Juhi Chaturvedi (Vicky Donor)
• RD Burman Award For Upcoming Talent In Music: Neeti Mohan (Jiya Re) (Jab Tak Hain Jaan)
• Lifetime Achievement Award: Yash Chopra
• Sony Trendsetter Of The Year: Barfi!

CRITICS AWARDS:

• Critics’ Award for Best Actor (Male): Irrfan Khan (Paan Singh Tomar)
• Critics’ Award for Best Actor (Female): Richa Chadda (Gangs of Wasseypur)
• Critics’ Award for Best Film: Gangs of Wasseypur

TECHNICAL AWARDS:

• Best Action: Sham Kaushal (Gangs Of Wasseypur)
• Best Cinematography: Setu (Kahaani)
• Best Editing: Namrata Rao (Kahaani)
• Best Production Design: Rajat Podar (Barfi!)
• Best Sound Design: Sanjay Maurya & Allwin Rego (Kahaani)
• Best Costume Design: Manoshi Nath & Rushi Sharma (Shanghai)
• Best Choreography: Bosco-Caesar (Aunty Ji – Ek Main Aur Ekk Tu)
• Best Background Score: Pritam (Barfi!)
• ‘Barfi!’ with 7 awards was the film wining highest number of awards.

 

Scientists discover Billion Year Old River on Mars

Scientists discover Billion Year Old River on Mars

January 22nd, 2013

Scientists from the European Space agency have discovered a river like structure on Mars by analyzing the 3D images of the Mars Express stereo camera. As per them, the region Reull Vallis bears a river-like structure which is believed to be formed when running water flowed in the distant martian past, cutting a steep-sided channel through the Promethei Terra Highlands before running on towards the floor of the vast Hellas basin.
The length of the river bed is around1500 kilometer which runs across the martian landscape.
These structures are thought to be formed by the passage of loose debris and ice during the ‘Amazonian’ period (which continues to this day) due to glacial flow along the channel.
The structures were originally carved by liquid water during the Hesperian period, which ended b/w 3.5 billion and 1.8 billion years ago.

ISRO to launch SARAL on February 14, GSLV in April

ISRO to launch SARAL on February 14, GSLV in April

January 21st, 2013

The Indian Space Research Organisation (ISRO) has planned to launch SARAL (Satellite with Argos and Altika) on February 14, 2013. The launch, which was planned for 12-12-12, was deferred due to some technical issues and to carry out additional to improve reliability. Along with Indo-French SARAL, the Polar Satellite Launch Vehicle (PSLV) will put into orbit six small experimental satellites built by western universities for a fee. SARAL would be similar to ISRO’s Oceansat-2, but with an altimeter to measure heights. In October 2012, NASA depended upon Oceansat-2 to get details of Hurricane ‘Sandy’ that brought huge devastation on the eastern U.S.
Forthcoming Launches of ISRO:

• In April 2013, ISRO expects to resume flying the GSLV rocket. The GSLV-D5 will lift the communications satellite GSAT-14 into orbit. GSLV programme was put on hold after it suffered two successive failures in April and December 2010.
• In May 2013, the first of the national navigational satellites or navsats — the IRNSS-1 — is expected to be launched on a Polar Satellite Launch Vehicle. IRNSS or the Indian Regional Navigation Satellite System with its seven satellites will be India’s own regional Global Positioning System.
• GSAT-7, a satellite dedicated for the Navy, will be launched around May on a European Ariane rocket.
• INSAT-3D and GSAT-10, will be launched in the second half of this year.

Battery safety concerns ground Boeing 787 and the issue with using “Lithium-ion Batteries”

Battery safety concerns ground Boeing 787 and the issue with using “Lithium-ion Batteries”

January 19th, 2013

The US and Japan have grounded their Boeing 787 Dreamliner aircrafts due to concerns over it battery safety. Recently, a battery-fault warning on an All Nippon Airways Dreamliner in Japan forced an emergency landing. A battery overheated and started a fire in an empty 787 operated by Japan Airlines (JAL) at Boston’s Logan International Airport. The aviation authority of the US, the Federal Aviation Administration (FAA) ordered that 787s in the United States be grounded until their batteries are shown to be safe, the first such action since 1979.  United Airlines reported a problem in one of its six 787s with the wiring in the same area as the battery fire on JAL’s airliner.
The Matter:

• Why Lithium batteries?

1. Unusually high energy density
2. Can be moulded into a variety of shapes

Although all air-planes have batteries, but the Dreamliner requires powerful batteries because Dreamliner’s control systems are driven entirely by electrical signals in place of the hydraulic controls found in traditional generations of jets. So, Boeing depends in part on lithium-ion batteries, which provide quick and powerful charges. Designers needed something which is light in weight and at the same time gives high power output. So, they opted for Lithium-ion technology batteries which have an unusually high energy density, which means the units can be smaller and thus lighter for a given amount of power than traditional batteries.
Lithium-ion technology is the same technology that we see in in the batteries of most modern smartphones and laptop computers, where the demands are rather similar, but on a much smaller scale.
Another big advantage of using Lithium-ion units: These can be moulded into a variety of shapes and thus, provide flexibility to design and fit them in awkward places, which is a key concern when space is at a premium.
Airbus A380 superjumbo also uses the same technology in batteries but in the Drealiners these batteries are used on a much more extensive scale.
Now, with advantages, there is a potential disadvantage of using lithium-ion batteries:

• Lithium-ion batteries require more careful management than other types of battery due to the ‘Thermal Runaway problem’.

We all remember the reports in Newspapers, TV Channels about batteries in laptops and mobile-phones smoking and catching fire.Thus, Lithium ion batteries can be prone to what is referred to as thermal runaway as a result of the very of chemistry involved. As a battery reaches a specific temperature, it can start self-heating with potentially disastrous consequences.
Also these batteries are Vulnerable to problems and leaks of battery fluid. When the problem of leakage starts, the fuel can in turn ignite automatically.

Black Holes are growing faster than previously believed

January 19th, 2013

 

Scientists from Swinburne University have revealed that the growth of super massive black holes, which are present at the centers of galaxies, does not occurs in the same way as it was previously thought.

Previous Thoughts and New Discovery:
Previous Thoughts:
It was thought that black holes increased their mass in step with the growth of their host galaxy. Both black holes and budding stars competed for the available gas to feed for their growth but the ratio of ratio of black hole mass to galaxy mass was thought remain preserved. It was thought that the star clusters contained a constant 0.2% of the galaxy mass.
New discovery:
It has now been discovered that Black holes have been growing much faster than we previously thought. It has been found that in big galaxies each ten-fold increase of a galaxy’s stellar mass is associated with a much larger 100-fold growth in its black hole mass. However, the opposite behavior exists among the tightly packed clusters of stars that are observed at the centres of smaller galaxies and in disk galaxies like our Milky Way because smaller the galaxy, the greater the fraction of stars in these dense, compact clusters which makes them dominant over black holes. Scientists also claim to have solved long-elusive mystery of “Intermediate Mass” black holes with masses between that of a single star and one million stars. As per researchers, numerous galaxies already known to contain a black hole – albeit of a currently unknown mass – should contain these missing `intermediate mass’ black holes which may be big enough to be seen by new generation of extremely large telescopes. These black holes will also hold the potential to consume planets and stars venturing too close to them.

 

IRFC to issue Tax-free bonds

IRFC to issue Tax-free bonds

January 18th, 2013

With an aim to raise Rs.8,886 crore, Indian Railway Finance Corporation Ltd (IRFC) will launch a tax-free bond issue. This would enhance IRFC resources for buying rolling stock for the Indian railways.
The Central Board of Direct Taxes (CBDT) has authorized IRFC to issue bonds up to Rs.10,000 crore during 2013 financial year.
The public issue of tax-free, secured, redeemable, non-convertible bonds in the nature of debentures will open on January 21, 2013 and close on January 29, 2013. The bonds have been rated with highest ratings AAA/stable by Crisil, CARE AAA by Care and AAA by ICRA which implies that the bonds have highest degree of safety with regard to timely servicing of financial obligation and carry lowest credit risk.
What is IRFC?
IRFC is a dedicated financing arm of the Ministry of Railways. IRFC’s prime aim is to raise money from the market in order to partly arrange finance for the planned expenditure of the Indian Railways. The money arranged by IRFC is utilized for the acquisition of rolling stock assets and for meeting other developmental needs of the Indian Railways. The borrowing programme of IRFC is guided by the requirements projected by Ministry of Railways.
Thus following are the Objectives of IRFC:

1. To finance the acquisition of Rolling Stock assets to be leased to MOR on the best possible rates and terms.
2. To tap domestic as well as Overseas Markets for funds at the most competitive rates & terms by issue of tax-free and taxable bonds/FRNs/Foreign Currency Loans/medium term loans from Banks to achieve plan financing target fixed by MOR.
3. To achieve ’zero complaint status’ trhough improved customer service to the bondholders/investors/lenders.
4. To ensure optimum utilization of resources.
5. To constantly review the debt portfolio for possible restructuring to lower the cost.

RBI introduces Dollar- Rupee swap facility

RBI introduces Dollar- Rupee swap facility

January 18th, 2013

RBI has introduced a dollar-rupee swap facility.
Objective: To increase the flow of credit to the export sector to support incremental Pre-shipment export Credit in Foreign Currency (PCFC) by banks.
As per RBI, banks will have the option to avail rupee refinance to the extent of the swap with RBI under a special export credit refinance facility. The facility will be available to banks from January 21 till June 28, 2013, for a fixed tenor of three or six months.
The total limit for the banking system works out to $6.5 billion. Banks will be able to buy US dollars up to its eligible swap limit from RBI and at the same time sell the same amount of dollars forward as per the term of the swap, at the prevailing market rates for swaps of similar tenor. At the end of the swap term, the banks will exchange the dollars against the rupees with RBI.
RBI will decide upon the number of banks that can access the facility, the maximum amount of swap that RBI would contract with banks and the maximum limit each bank can do on a particular day after taking into account market conditions.

India among major victims of ‘Red October’

India among major victims of ‘Red October’

January 18th, 2013

What is RED OCTOBER ?
 ‘Red October’ (or ‘Rocra’ for short) = A Cyber spying campaign (a cyber-espionage network) launched in 2007 by unidentified criminals that have been secretly stealing important data from many computer systems used by government agencies, military, nuclear, gas and oil industries, aerospace, private companies, etc. in many countries since 2007.
The cyber-espionage network has been uncovered by experts at Russia’s Kaspersky Lab. As per Kaspersky Lab, Russia’s multinational computer security company, the ‘Red October’ malware called Backdoor.Win32.Sputnik, has been stealing confidential data.
It has infected hundreds of victims around the world in 8 main categories:

1. Government
2. Diplomatic / embassies
3. Research institutions
4. Trade and commerce
5. Nuclear / energy research
6. Oil and gas companies
7. Aerospace
8. Military

The majority of infections are actually from the embassies of ex-USSR country members. India is one of the main victims of ‘Red October’ cyber espionage attack along with Russia which is the worst hit and many other countries like Kazakhstan, Azerbaijan, Belgium and the United States. Russia tops the list of countries with 38 detected infections, India ranks fifth with 14 infections. The United States is also on the list with 6 attacks. The Kaspersky Lab is continuing its investigation in collaboration with international law enforcement agencies and national Computer Emergency Response Teams (CERT).
Based on our Kaspersky Security Network (KSN) a list of countries with most infections (only for those with more than 5 victims):

• Country-Infections
  RUSSIAN FEDERATION-35
  KAZAKHSTAN-21
  AZERBAIJAN-15
  BELGIUM-15
  INDIA-14
  AFGHANISTAN-10
  ARMENIA    10
  IRAN; ISLAMIC REPUBLIC OF TURKMENISTAN-7
  UKRAINE-6
  UNITED STATES-6
  VIETNAM-6

Source of Iodine oxide gas responsible for destruction of ozone over oceans identified

January 17th, 2013

Scientists at the University of York and Leeds in Britain have established that the majority of ozone-depleting gas iodine oxide observed over the remote ocean comes from a previously unknown marine source. As per researchers, the main source of iodine oxide can be explained by emissions of hypoiodous acid (HOI) – a gas not yet considered as being released from the ocean – along with a contribution from molecular iodine.
Since the 1970s when methyl iodide (CH3I) was discovered as everywhere in the ocean, the presence of iodine in the atmosphere has been understood to come mainly from emissions of organic compounds from phytoplankton — microscopic marine plants.
As per latest research,  reactive iodine, along with bromine, in the atmosphere is accountable for the destruction of huge amounts of ozone – around 50 % more than estimated by the world’s most advanced climate models – in the lower atmosphere over the tropical Atlantic Ocean. Scientists quantified gaseous emissions of inorganic iodine following the reaction of iodide (compound of iodine with another element or group) with ozone in a series of lab experiments and formation of both molecular iodine and HOI.
Researchers call it a self destruction mechanism, where more concentration of ozone leads to formation of more halogen gases which in turn destroy it.
This reaction could be responsible for around 75% of observed iodine oxide levels over the tropical Atlantic Ocean.

Scientists develop drug to help paralyzed walk again

Scientists develop drug to help paralyzed walk again

January 12th, 2013

As per scientists at Stanford University, they have developed a drug called LM11A-31 which they claim could help paralyzed people walk again. During tests on mice with no movement in their lower limbs, the drug was found to allow them to walk with ‘well-coordinated steps’ and even to replicate swimming motions.
The drug was tested for its ability to prevent the death of cells called oligodendrocytes. These cells cover and protect axons, long projections of a nerve cell, by wrapping them in a myelin sheath that protects the fibres. Besides functioning as axon insulation, myelin allows for the rapid transmission of signals between nerve cells.