Current Affairs : September 19, 2011

September 19, 2011

12 FDI Proposals worth Rs 242.88 Crore approved by the Union Government

The Union Govt declared support to 12 foreign direct investment (FDI) proposals worth Rs.242.88 crore in foreign exchange
The Foreign Investment Promotion Board (FIPB) headed by Economic Affairs Secretary R Gopalan cleared proposals

Justice Shivaraj Virupanna Patil, Karnataka Lokayukta Justice resigned over Charges of Violating Housing Society Laws

Facing charges of violating co-operative housing society laws, Karnataka Lokayukta Justice Shivaraj Virupanna Patil resigned from his post
Accusations are that he owned two residential sites in Bangalore city. Media reveal showed abnormality in the allocation of two residential plots to him and his wife.
Patil, who took charge as the Lokayukta on August 3, 2011 is the first ombudsman (Lokayukta) to leave office without completing the term
Justice Patil replaced Justice Santosh Hegde, whose report on illegal mining ended Yeddyurappa’s chief ministership in Karnataka

For defaulting on payment, BCCI suspends Kochi Tuskers

Due to non-payment of dues, BCCI, has suspended IPL franchise Kochi Tuskers Kerala
Decision was taken in the board’s yearly General Meeting as the franchise was incapable to pay its bank assurance amount in the set time

Japan to ink Memorandum Of Understanding with Tamil Nadu

Japan to sign MOU with Tamil Nadu Govt on Small and medium enterprises to invest in state
Mr. Tadashi Okamura, Chairman of Japan Chamber and Commerce and Industry (JCCI), held that MoU to motivate Japanese’s businessman in particular manufacture sector to take larger curiosity in India

Joint Strategic Military Exercises to be held by the CSTO countries

CSTO (Collective Security Treaty Organization): 7 former Soviet republics form the CSTO
CSTO to hold joint strategic military exercises code-named “Center 2011”
Drills will begin are due to take place in Russia, Kazakhstan, Tajikistan and Kyrgyzstan
Game will be held under the leadership of Russian General Staff Chief Army General and the active phase of the drills will last until September 26, 2011

New BCCI chief: Narayanaswami Srinivasan

BCCI elected new office holders in the 82nd Annual General Meeting (AGM) 2011
Mr. Narayanaswami Srinivasan took over as the chief of BCCI from incumbent Shashank Manohar
New Chairman of IPL (Indian Premier League): Rajeev Shukla

India to take up with US administration its restrictive trade practices

India will take up with US administration its protective trade practices
These policies have made Indian exports to the US more expensive and raised costs of Indian IT companies operating in America
Anand Sharma , Commerce and Industry minister to meet up US trade representative Ron Kirk
Mr. Sharma is likely to build a well-built case for removal of the sharp increase in professional visa fees and the extra duties forced on Government imports
Mr. Sharma is also likely to ask for speedy restoration of the generalized system of preferences scheme that grants duty-free imports of specific goods from developing countries like India.