Current Affairs : August 4, 2011

Single-window Clearance System approved by SEBI for prior approvals

Securities and Exchange Board of India (SEBI) approved a single-window clearance system for market entities like stock brokers, for grant of prior approval for change in control of their management structures

Objective: To speed up the process of allowing prior approval (in case of change of control) and a move aimed at doing away with unnecessary rules and red-tapism

New Lokayukta of Karnataka: Former Supreme Court Judge Shivraj V Patil

• Justice Shivraj V Patil (Former Supreme Court Judge) sworn in as the new Lokayukta of Karnataka
  
• He succeeded Justice N Santosh Hegde who vacated office after completing 5-year tenure
  

   

‘Industrial Outlook Survey for the July-September 2011’ launched by RBI

• RBI launched its Industrial Outlook Survey for the July-September 2011 period
  
• Centre for Research Planning and Action (CERPA) was imparted the responsibility for conducting the research on behalf of RBI
  
• The Industrial Outlook Survey provides for an insight into the perception of non-financial public and private limited companies that are engaged in manufacturing activities about their performance and future prospects
  
• The survey aimed to provide useful forward looking inputs for policymakers, analysts and businesses
  
• Since 1998, RBI has been conducting the Industrial Outlook Survey on a quarterly basis
  

   

CCEA approves equity infusion of `
1,200 Crore rupees into Air India

• Cabinet Committee on Economic Affairs (CCEA) approved an equity infusion of ` 1,200 Crore into Air India

Objective:

• Ease the cash flow situation of the Company
• Prevent borrowings from market at high cost

Lokpal Bill introduced in the Lok Sabha

• The Lokpal Bill was introduced in the Lok Sabha on August 4, 2011
• Proposed legislation to pave the way for creating a mechanism for citizens to approach newly created anti- corruption watchdog with complaints against officials, bureaucrats and Union Ministers
• Bill introduced by the Minister of State for Personnel, Mr. Narayan Swamy
• Leader of the Opposition Sushma Swaraj raised the issue of non-inclusion of Prime Minister under the Lokpal
• The Lokpal to have a Chairman with 8 members to assist him
• The post of Prime Minister and Senior Judiciary kept out of the ambit of the Bill
  
• Bill to now go to the Parliamentary Standing Committee for comprehensive discussions
  
  

Panama flagged vessel MV RAK CARRIER sinks off Mumbai coast

• A Panama flagged vessel MV RAK CARRIER sunk 20 nautical miles off the Mumbai coast
• Following the distress signal, Navy and Coast Guard promptly swung into action and saved the lives of all the 30 crew members
• Samudra Prahari , Indian Coast Guard’s oil pollution response vessel has been asked to remain in the area and monitor any likely oil spill

In order to identify water resources in Country, `
140 Crore invested by Dept. of Science & Technology

• Rs. 140 Crore rupees invested by the Department of Science & Technology on a project to identify Water resources in the country from which unusable water will be extracted and made drinkable
• Centre to identify 25 clusters in the country where there are various kinds of challenges in providing drinking water including contamination
  
• Department also looking for a Company that will be able to make water available at 20 Paise per litre
  

Centre plans Economic Census

• Centre planning to conduct the 6^th Economic Census
• Census will be in collaboration with the States and Union Territories in 2012
• Cover all enterprises engaged in various economic activities in both organised and unorganised sectors of the economy
• The information collected, would provide a framework for follow up action for planning and development, especially for the unorganised sector of the economy

Month: Current Affairs - August, 2011