Daily GK Updates:4,5th October,2015

Business First as Angela Merkel Meets PM Narendra Modi

German Chancellor Angela Merkel and Prime Minister Narendra Modi on Monday held talks on stepping up bilateral cooperation in a range of key areas with a special emphasis on ramping up trade and investment when global slowdown is emerging as a major concern.

                              Bilateral engagement in diverse sectors like defence, security, education and renewable energy figured in the summit-level Inter-Governmental Consultations (IGC) between Modi and Merkel which also deliberated on issues relating to trade and investment.

1.The 3rd India-Germany Inter Governmental Consultations begin, led by PM & Chancellor," tweeted External Affairs Ministry Spokesperson Vikas Swarup.

2.India and Germany are strategic partners since 2001. The German Chancellor's visit here comes      around six months after Modi's tour to Germany in April Germany is India's largest trading partner   in European Union and the seventh largest foreign investor in India.

3.The overall exchange of goods and services between the two countries was valued at around around 15.96 billion euros last year, a drop of 1.14 billion euros from the level of 16.10 billion euros registered in 2013.

4.While India's exports to Germany rose marginally to 7.03 billion euros in 2014, its German imports dropped to 8.92 billion euros from 9.19 euros in the previous year.

5. More than 1,600 Indo-German collaborations and around 600 Indo-German joint ventures are currently in operation.

     Ahead of Merkel's visit, German Ambassador Martin Ney said the third Inter-Governmental Consultations are expected to come out with "path-breaking results" and inking of "substantial" number of agreements between the two countries.

Black Money Disclosure Government Revises Amount to Rs 4,147 Cr

The government collected Rs 4,147 crore during the 90-day black money disclosure compliance window, which is higher than the previously announced amount of Rs 3,770 crore, Revenue Secretary Hasmukh Adhia said on Monday.

              Mr Adhia said that while the total number of disclosures was 638 as stated last week, the total illegal foreign assets brought to book stood at Rs 4,147 crore.

1.The government's total tax receipt from the black money declared during the window will be Rs           2,488.20 crore.

2.The government had on October 1 declared that a total of Rs 3,770 crore of black money was declared during the compliance window. 

3.The Foreign Account Tax Compliance Act (FATCA), signed with the US, India has already started     getting information.

4.As many as 132 prosecutions in 43 cases out of the HSBC Swiss list have been filed.

Flipkart's Big Billion Days Sale: What You Can Expect and How to Make the Most of It

1.The festive season around Diwali accounts for a majority of sales reported across online and offline channels. It is only natural for e-commerce companies like Flipkart, Amazon, and Snapdeal to make the most out of it

2.Flipkart's Big Billion Days sale is scheduled to be held from October 13 to October 17 this year.

         The Big Billion Days sale will be applicable across almost all product categories on Flipkart. The company's recent purchase, Myntra, will also be joining the Big Billion Days sale this year. Flipkart has also tied up with banks like State Bank of India, Standard Chartered, and Citibank to offer cash back and additional discounts. The most popular product categories during the Billion Days sale are electronics, computers and accessories, and smartphones.

Affordable Internet Is Digital India's Priority: Ravi Shankar Prasad

Union Communications and Information Technology Minister Ravi Shankar Prasad said that the priority of the government's Digital India campaign is to provide subsidised Internet and optical fibre cable linking 250,000 gram panchayats,enabling speeds of 100Mbps, which will be used as a means to share information with stakeholders.

    1.Prasad said that over 80,700 kilometre of lines have been laid and about 54,300 kilometres of optical cables have been installed. The previous government had only laid about 2,000 kilometres of lines and 250 kilometres of optical cable, he said. Kerala, Chandigarh, and Puducherry have been completely brought under Bharatnet.

2.Public Wi-Fi hot-spots will also be provided in cities and tourist destinations with a population of over 1 million, he said. In addition, over 250,000 secondary and higher secondary schools will be connected to free Wi-Fi facilities.

India Expected to Weather Global Volatility: World Bank

1.India is expected to weather global volatility with real GDP growth projected to increase to 7.5 per cent despite a weak export recovery, the World Bank has said.

2.The bank in its latest report projected the country to grow 8 per cent by 2017-18.

3.Annual growth is set to increase from 7.3 per cent in FY15 to 7.5 per cent in FY16.

India's Poverty Rate Lowest Among Countries with Poor Population

 According to world Bank Report,India was home to the largest number of poor in 2012, but its poverty rate is one of the lowest among those countries with the largest number of poor.

        In its report, the bank uses an updated international poverty line of USD 1.9 a day, which incorporates new information on differences in the cost of living across countries. The new line preserves the real purchasing power of the previous line (of USD 1.25 a day in 2005 prices) in the world's poorest countries.

1.The bank projects that global poverty will fall from 902 million people or 12.8 per cent of the global population in 2012 to 702 million people or 9.6 per cent of the global population this year.

2. The four nations with the largest populations were once classified as low-income but have moved into lower-middle-income category, China, India, Indonesia and Nigeria.

Shashi Kapoor Receives Lifetime Award at Jagran Film Fest

Veteran actor Shashi Kapoor was honoured with the Lifetime Achievement award at the closing ceremony of the sixth Jagran Film Festival in Mumbai on October 4.

1.The legendary actor, who received the Dadasaheb Phalke Award, was honoured with the Lifetime Achievement honour by filmmaker Shyam Benegal.

2.Shashi Kapoor, 77, is best known for his nuanced performances in memorable films like Satyam Shivam Sundaram, Trishul, Kabhi Kabhie, Vijeta and Kalyug. Despite his ill health, Mr Kapoor attended the ceremony to receive the award.

Facebook, Eutelsat Partner to Deliver Satellite Internet to Africa

European satellite operator Eutelsat Communications and social media giant Facebook said Monday they are working jointly to deliver satellite broadband Internet to connectivity-hungry sub-Saharan Africa.

1.The firms revealed they have reached a multi-year agreement with satellite communication firm Spacecom to use the entire broadband payload of the AMOS-6 satellite due to come on stream in the second half of next year and provide coverage for large swathes of sub-Saharan Africa, after identifying "pent-up demand for connectivity".

2.Eutelsat chairman and CEO Michel de Rosen said: "We are excited by this opportunity to accelerate the deployment of our broadband strategy and to partner with Facebook on a new initiative to provide Internet access services in Africa.

PM Modi is World's 13th Most Influential Person: Bloomberg Markets

Prime Minister Narendra Modi has debuted at the 13th spot in 'Bloomberg Markets Most Influential' annual ranking topped by US Federal Reserve Chairman Janet Yellen. Chinese premier Xi Jinping, US President Barack Obama and German Chancellor Angela Merkel are other politicians ranked above PM Modi in the coveted list of 50 people.

                    According to The Financial Times newspaper. The country also moved up 16 positions to rank 55th on a global index of the world's most competitive economies, according to the World Economic Forum. India's progress has been linked to several initiatives taken by the 15-month-old Narendra Modi government.

Bloomberg Markets Most Influential list is dominated by billionaire CEOs such as Apple's Tim Cook, Berkshire Hathaway's Warren Buffett, Goldman Sachs' Lloyd Blankfein and JPMorgan Chase's Jamie Dimon.

Telugu Producer Edida Nageswara Rao Dies at 81

1.Renowned Telugu producer Edida Nageswara Rao died on October 4 at a private hospital in Hyderabad. He was 81.

2.Mr Rao's Swati Mutyam, featuring Kamal Haasan was sent by India as its official entry for Best Foreign Language Film for the Academy Awards in 1986, but was not nominated.

3.Three of Mr Rao's films have also won National awards.

4.He was also nominated for the prestigious Dada Saheb Phalke Award.

DRDO sets up world's highest terrestrial centre in Ladakh

Defence Research and Development Organisation (DRDO) established the world's highest terrestrial centre at 17,600 feet above sea level at Changla near Pengong lake in Ladakh.

1.The centre will serve as a natural cold storage for preserving rare and endangered medical plants for generations to come.

2.The centre was inaugurated by Director General, DRDO Dr S Christopher. According to reports, the centre will act as an important utility for research work in frontal areas of food and agriculture and bio-medical sciences for well being of the soldiers deployed in high altitude cold desert. 

3.A large number of Life Sciences activities are proposed to be undertaken at this centre.

Israel, India aim to step up bilateral ties during Mukherjee visit

1.India and Israel will aim to further step up bilateral engagement and are likely to sign three MoUs in water, energy and education sectors during President Pranab Mukherjee's visit to the Jewish nation later this month, which will be first ever by an Indian Head of State. 

2.The two countries are on an upswing, Israeli ambassador Daniel Carmon said Mukherjee's visit will be a "landmark" one during which both sides will try to expand cooperation in a range of areas. 

3.India had established "full" diplomatic relationship with Israel in 1992 though it had recognized the country in 1950. No Indian Prime Minister or President has ever visited the country. 

Manohar succeeds Dalmiya as BCCI president

1.Shashank Manohar has been formally elected BCCI president at the board's special general meeting (SGM) in Mumbai on Sunday. Soon after, at his first press conference, he announced a wide range of measures to tackle various critical issues facing the board, including conflict of interest, corruption in cricket, the lack of transparency in the board's operations and financial accountability of the state associations.

2.All 30 members including the Tamil Nadu Association said we have to work together and build the image of the Board and not fight amongst ourselves.

Daily GK Updates : 3rd October,2015

Facebook CEO Mark Zuckerberg faces fraud charges in Silicon Valley lawsuit

1. Mark Zuckerberg moved closer to a trial over a developer's lawsuit alleging the billionaire committed fraud

2. The developer claims he gave Zuckerberg a 40% discount on the property rights

3. Draper said there's evidence in e-mail messages that Zuckerberg agreed to give Voskerician   referrals

        A state judge in San Jose, California, deniedZuckerberg's request to throw out claims that he didn't keep his word in a $1.7 million deal that ended plans for a mansion with a view into the 31-year-old Facebook founder's bedroom. Superior Court judge Patricia Lucas said at a hearing Thursday she'll consider Zuckerberg's arguments before making a final decision on a breach-of-contract claim.

The case grew out of a 2012 deal in which Zuckerberg paid for the rights to buy the house behind his home in Palo Alto, California, from Voskerician.

PM wants all of India under Aadhaar by December

1.Prime Minister Narendra Modi has pushed for universal enrollment under the ambitious Aadhaar project by the year-end. At a recent high-level meeting of PRAGATI (Pro-Active Governance And Timely Implementation), Modi asked Unique Identification Authority of India (UIDAI) and chief secretaries of states such as UP and Bihar which are lagging behind to accelerate and complete enrollment of all residents by December 2015.

             Modi's emphasis on the 'JAM (Jandhan, Aadhaar, Mobile) trinity' in his Silicon Valley outreach, is a clear indication that he wants Aadhaar to be one of the pivots of his anti-poverty strategies ensuring entitlements meant for poor and rural masses actually reach them.

India's foreign reserves plunge by over $2 billion

India's foreign exchange (Forex) reserves declined by $2.04 billion to $349.97 billion in the week ended September 25, official data showed on Friday. 

1.The reserves had risen by $631.5 million to $352.02 billion in the previous week ended Sep18

2.The reserves had augmented by $2.35 billion to $351.38 billion in the week ended September 11. 

 Wal-Mart Stores Inc is cutting 500 jobs at its headquarters in Arkansas

Stores Inc is planning to lay off hundreds of people at its headquarters in Arkansas as part of the retail giant's efforts to pare costs, people familiar with the matter said. 

1.Fewer than 450 employees are expected to lose their jobs .

2.Wal-Mart declined to comment. News of the impending cuts was reported earlier on Wednesday by  the Wall Street Journal. 

3.The cuts will make up a small portion of the more than 18,000 people employed at the Bentonville,  Arkansas office but fit in with a streamlining effort that has been flagged by chief executive Doug     McMillon in recent months. 

4.The company's stock is down 26 percent so far this year. 

 ITBP is Undertaking This Unique Mission on River Ganga

1.Indo-Tibetan Border Police are now undertaking a unique mission to spread awareness about government initiatives.

2.A 46 member team headed by ITBP commandant, Surendar Khatri will set their rafts along the river Ganga in Devprayag, where the tributaries Alaknanda and Bhagirathi merge into the river.

3.They spread awareness about government's initiatives like 'Beti Bachao Beti Padhao' and 'Swachh Bharat', but will also pick up plastic and garbage enroute their journey to Gangasagar in West Bengal.

4.The team will sail on the river through five states of Uttarakhand, Uttar Pradesh, Bihar, Jharkhand and West Bengal, covering a distance of nearly 2,350 kilometres.

5.They are scheduled to conclude the journey by December 12, where Union home minister, Rajnath Singh is expected to welcome the team in a grand ceremony.

India commits to 35% cut in emission rate by 2030

India announced its much awaited post-2020 'climate action plan' promising to reduce emission intensity by 33-35% by 2030 over the 2005 levels, boost clean energy in electricity generation to 40% while adding carbon sinks — tree and forest cover to remove carbon dioxide from the atmosphere — amounting to 2.5-3 billion tonnes of CO2.

1.After submitting the climate action plan to the UNFCCC within its October 1 deadline, environment and climate change minister Prakash Javadekar said in New Delhi,

2.Climate action to cost nation $2.5 trillion.

3.According to the World Resources Institute, India's per capita emissions are 2.44 metric tonnes to China's 8.13 metric tonnes.

4.India is the third largest emitter — fourth, if one counts EU as a single entity — it accounts for less than 7% of greenhouse gases (GHGs). While US and China have agreed to converge at 12 tonnes of CO2 per capita by 2030, India is still far lower that these emission levels.

5.At present, the country is moving to achieve its earlier target of reducing its emission intensity by 20 to 25% by the year 2020 as compared to its 2005 level.

    

ICICI brings in card-less mVisa

ICICI Bank has become the first institution worldwide to launch  mVisa -card-less and device-less solution the payments company is betting on in the mobile space. ICICI Bank has incorporated the mVisa application in its Pockets app, which allows payments to be made by scanning a static QR code and entering the amount.

        1.The biggest incentive for merchants to accept mVisa payments is that there is zero investment.

     2.The next step involves entering the amount and ATM pin, following which money will be instantly transferred to the merchant account. mVisa is a digital-only payments solution developed by Visa International in India for the world. 

         ICICI Bank has tied up with 1,500 merchants in Bangalore and it plans to ramp up this number to 15,000 in a couple of months. State Bank of India, HDFC Bank and Axis Bank are also working on incorporating mVisa in their own mobile applications. Besides being card-less and device-less, the system is interoperable, which means that a merchant who accepts mVisa of one bank will accept payments from any other bank that joins the network. 

Indian women's cricket team stands fourth in new multi-format ICC rankings

1.The Indian women's cricket team stands fourth in the latest ICC team rankings with the new                  innovative multi-format system brought into place.

2.Australia are ranked number one following its success in the ICC Women's World Cup 2013 in           India and the World Twenty20 2014 in Bangladesh. It also leads the ICC Women's Championship,     which is the qualifying tournament for the 2017 World Cup.

3.England are ranked second in the 10-team table, 10 points behind Australia, followed by New Zealand (109), India (105), West Indies (99), South Africa (92), Pakistan (81), Sri Lanka (74), Bangladesh (57) and Ireland (26).

Ajay Jadeja Quits As Delhi Rangi Team Coach

Delhi cricket team's chief coach Ajay Jadeja will not be present in the dressing room when the Gautam Gambhir led side play their opening match of the Ranji Trophy against Rajasthan, in Jaipur .

     Ajay (Jadeja) has informed us that he would not be able to perform the coach's duty as his son is not well. He is expected to join the team from the second match," DDCA president Sneh Prakash Bansal told.

Apollo Hospitals Invests Rs 1,400 Crore for Expansion
Apollo Hospitals is currently investing Rs 1,400 crore for setting up four hospitals, a few clinics and homecare services in the country.
    "The four hospitals will come up in Mumbai, Bengaluru, Guwahati and Visakhapatnam," Joint MD Apollo hospitals, Sangita Reddy, said.
1.The Group chairman Prathap C Reddy said Apollo Hospitals currently has 9,000 beds and is expected to cross 10,000 once the new hospitals commence operations in a few months.
2.According to him, the investment for Mumbai hospital is Rs 550 crore while Bengaluru and Visakhapatnam facilities will cost Rs 150 crore and Rs 170 crore, respectively.
3.CEO Apollo Homecare, Mahesh Joshi said,The services will be offered in all Tier-I cities and 13 Tier-II cities during next year and will target 1,00,000 lives in the first year of operations.

Bye bye Google, hello Alphabet
 Google Inc has morphed into Alphabet Inc.
 Alphabet replaced Google as the publicly traded company that will house Google's search and Web   advertising businesses, maps, YouTube and its "moonshot" ventures such as driverless cars.
1.The core businesses will be called Google and operate as a wholly-owned subsidiary of Alphabet. Sundar Pichai will head Google.
2.Alphabet will be run by Google co-founder Larry Page and each of its businesses will have its own chief executive.
3.Alphabet's businesses will also include connected home products maker Nest, venture capital arm Google Ventures, and Google Capital, which invests in larger tech companies.

Daily GK Updates:2nd October 2015

Indian Navy Chief Admiral RK Dhowan  to Visit Australia

In another boost for defence ties with Australia, Indian Navy Chief Admiral RK Dhowan will be the country from October 2-7 for meetings with its top leadership, an official statement Released.

The forum provides opportunities to engage with the heads of over 40 navies.

The statement said the visit aims to "consolidate existing Maritime Cooperation initiatives as well as explore new avenues."

              Maritime cooperation between Australia and India has been robust, with the two recently conducting the first bilateral exercise Ausindex.

The two nations signed a Defence Cooperation Agreement in 2006 as well as a Framework for Defence Cooperation in 2014, which envisages regular ship visits as well as high level exchanges.

"India-Australia share similar maritime challenges such as long coastline, extensive EEZ, coastal security, large coastal shipping and fishing fleet, where in both Navies have opportunities to learn from each other's experiences," the statement said.

The statement added that common grounds exists for cooperation in ship-building, especially under the "Make in India" initiative.

Admiral Dhowan, during his visit, will meet the chief of the Royal Australian Navy, vice chief of defence staff, defence secretary and other senior naval officers.

PM Modi Launches Mudra Scheme in Jharkhand

Prime Minister Narendra Modi today launched the Mudra scheme in Dumka under which people can take loans up to Rs. 10 lakh to start businesses.

"The Mudra scheme is one step forward to accelerate development in the country. Till now, 42 lakh people have taken benefits under the Mudra scheme and loans of Rs.26,000 crore have been given," PM Modi said while launching the scheme in the state.

"Of these 42 lakh people, 20 lakh are women. This is the best example of empowerment of women, who will become a part of the development," he said, pointing out that interest would have to be paid on the amount withdrawn through the debit card and not on the entire loan amount.

            The Pradhan Mantri MUDRA (Micro Units Development and Refinance Agency) Yojana was launched in April to help small entrepreneurs. In Jharkhand, around one lakh people have been given loans under the Mudra scheme.

PM Modi also criticised political rivals who talked about poor people. "Politics has been done in the last 60 years in the name of the poor but no one thought about mothers cooking food by burning fuelwood. We have till now given LPG cylinders to 18 lakh poor people. On my appeal, 31 lakh people have given up LPG cylinder subsidies," the prime minister added.

"Today is the birth anniversary of Mahatma Gandhi and he will be happy if forests are saved by not cutting trees for fuelwood to cook food," PM Modi said.

ICICI among 10 banks to cut loan rates by up to 40bps

Over 10 banks, including the country's second largest lender ICICI Bank, have reduced their lending rates in the wake of Tuesday's half-a-percentage-point cut in the repo rate by the RBI.

ICICI Bank on Thursday announced a reduction of 35 basis points in its base rate with effect from October 5, 2015 (100bps = 1 percentage point). The revised rate will be 9.35% per annum as against 9.70% at present.

            Kotak Mahindra Bank slashed its base rate by 25 basis points to 9.5%, effective October 5. Yes Bank also cut its base rate by 25 basis points to 10.25%. State Bank of Travancore cut its base rate by 25 basis points to 9.95% from 10.15%. The State Bank of Bikaner and Jaipur, another associate bank, revised its base rate to 9.7% from 9.95% with effect from October 5.

         The Central Bank of India also reduced its base rate by 25 basis points from 9.95% to 9.7% with effect from October 8. Allahabad Bank has cut its base rate by 25 basis points to 9.7% from 9.95% with effect from October 5.

PNB, Bank of Baroda and Oriental Bank of Commerce have also reduced their base rate by 40 basis points, 25 basis points and 20 basis points to 9.6%, 9.65% and 9.7%, respectively. 

   

On Swacchh Bharat  Anniversary, Delhi Municipal Council Launches Cleanliness Drive

 On the first anniversary of the Swachh Bharat Mission, the New Delhi Municipal Council (NDMC) today launched a cleanliness drive in Connaught Place, the heart of the national capital, and various parks under the civic body's jurisdiction.

The drive was inaugurated by Urban Development Ministry secretary Madhusudhan Prasad, who painted the pillars in the inner circle of Connaught Place.

"The NDMC has been selected by MoUD as one of the 100 smart cities to participate in the Smart City Challenge Stage-2. The government is ready to provide funds and technical assistance but cleanliness is very important to convert the area into smart city," he told reporters.

        NDMC Chairman Naresh Kumar said the civic body had carried out several initiatives to maintain cleanliness in its areas throughout the year.

"We have tried to ensure that Swachh does not be just a symbolic drive but things improve on the ground.

We have also procured infrastructure to maintain cleanliness in all the areas. We are vying for the smart city tag and work is being carried out in a phased manner," he said.

A fortnight special cleanliness campaign was also launched by NDMC today in association with Resident Welfare Associations (RWAs)and Market/Traders Associations for cleaning streets, lanes, bylanes, markets and parks.

 Railways to Continue 'Swachh Bharat' Mission Till March 2016

 Indian Railways will continue the 'Swachh Bharat' mission till March 2016, when 'Sardar Patel United Clean India Drive' would be implemented, with focus on cleanliness at stations, hospitals and office premises, a senior official said in Madurai today.

The focus would be on stations from October 11 to 31, followed by railway colonies from December 16 to 31 and Railway Hospitals from February 15 to 28. Later systematic efforts would be taken to achieve sustained cleanliness and improvement in the environment, Divisional Railway Manager Sunil Kumar Garg said, quoting Railway board chairman's communique.

Speaking to reporters here today, he said a larger section of staff and public would be involved in the cleanliness drive and uncovered areas also would be taken up in a phased manner.

                  He also said the Safety Commissioner was expected to inspect the Pollachi-Palghat Broad Gauge conversion work on October 5 and 6. If clearance was received, trains bound for Gujarat, Maharashtra and Mangalore could be operated through this section.

This would reduce the distance between Madurai and Mangalore and other states, including Maharashtra and Gujarat, considerably by about 100 to 150 km, he said.

Tamil Nadu Governor, Chief MinisterJayaLalitha Lead State in Paying Tributes to Mahatma Gandhi

Tamil Nadu Governor K Rosaiah, Chief Minister Jayalalithaa and her cabinet colleagues led the state in paying tributes to Mahatma Gandhi on his 146th birth anniversary.

The Governor paid floral tributes to the portrait of Gandhi at Marina on Kamaraj Salai in Chennai.

Chief Minister Jayalalithaa and her cabinet colleagues also paid tributes to Gandhi.

The state government organised a cycle rally in Chennai to create awareness against untouchability on the occasion.

           Congress' state unit scheduled a pamphlet distribution programme to press for implementing prohibition in the state, coinciding with the freedom fighter's birth anniversary, while BJP's state President Tamizhisai Sounderrajan paid floral tributes to Gandhi's portrait.

Delhi to Construct 350 New Toilets

The Delhi government will construct 350 new toilets in the national capital, Delhi Chief Minister Arvind Kejriwal said today.

"AAP government will inaugurate 350 new toilets in 10 new toilet blocks," Mr Kejriwal said while inaugurating a toilet block in Majnu Ka Tila area.

"In the last six months, 750 toilet seats have been added. By March 31 next year, we will be able to provide sufficient toilets and clean water in all slums," he said.

Taking a jibe at Prime Minister Narendra Modi's "Swachh Bharat Abhiyan" project, Mr Kejriwal said, "Singing songs won't help, nor photo opportunity of cleaning street once a year will help."

Even after one year of the ambitious plan, the country is filled with filth and it raises questions about the money spent on the scheme, he said.

"The effect of Swachh Bharat Mission cannot be seen in any street of the country. The Union government should work more rather than talking about schemes," the Chief Minister said.

   

 Biggest Challenge for India For a Creating Jobs of Skilled Manpower  

India is among the few countries with a favourable structural growth story, but its biggest challenge will be to create enough skilled manpower and jobs that will spur a "virtuous cycle" of higher growth, says a Macquarie report.

According to the global financial services firm, India will add around 100 million people to its working-age population between now and 2025 and will account for 20 per cent of the world's working-age population.

During this time, North America will see an addition of 14 million, while for China it would be a decline of 29 million.

The three pillars of education, productivity and employment are critical to reap the benefits of demographic dividend in India, it added.

               "The Indian government has embarked on the right path with initiatives like Skill India, Ease of Doing Business, Smart Cities and Industrial Corridors to facilitate demographic dividends to flow through," Macquarie said.

According to the report, only 7 per cent of India's population has vocational education, as compared to 70 per cent for North America. Moreover, lack of female participation has skewed the dependents per employed person to 1.7, almost double of China.

The report further said that India's growth story is largely a story of strong domestic demand.

"Over the next decade, we estimate total discretionary spend of Indian households will increase from $174 billion in 2005 to $340 billion in 2015 and further to $504 billion in 2025," Macquarie said.

This increase in discretionary spend over the next decade will be largely driven by the middle-class and rich households.

According to Macquarie, urbanisation will rise sharply over the coming years as workers move from farms to non-farm employment sectors, mainly manufacturing and services.

The urban population will increase from 418 million in 2015 to 509 million by 2025 - to match 36 per cent of India's total population.

India Commits to Big Emissions Intensity Cuts by 2030

India has promised to cut emissions intensity by 33-35 percent by 2030, in a climate-change policy statement (Associated Press photo)

India will cut intensity of carbon emissions by 33-35 percent by 2030 from 2005 levels and make its economy more energy efficient, the government today said as it announced an ambitious climate-change policy ahead of a major UN summit in Paris later this year.

"Goal is to reduce emissions intensity of GDP by 33%-35% from 2005 level, by 2030," Environment Minister Prakash Javadekar said a day after the government submitted a new plan to the UN for combating climate change. "It is a huge jump for India, therefore it is a very ambitious target," Mr Javadekar said, adding that the government was "confident" of meeting those targets.

India, the world's third-largest emitter of greenhouse gases, made the pledge to cut emissions intensity - the ratio of a country's carbon emissions to its economic output - as part of its Intended Nationally Determined Contributions or INDCs, in a document published on a UN website early on Friday.

       In the 38-page document, India said that it would target 40 per cent cumulative installed power capacity from non-fossil fuel sources by 2030.

New Delhi has ruled out committing to absolute cuts in carbon emissions, in contrast to the United States, China and other big nations which have announced peak years for emissions.

"The developed world has polluted the Earth and we are suffering. Still, we want to become part of the solution and give results," Mr Javadekar said.

The government estimated at least $2.5 trillion would be required to achieve the country's climate change goals, which include increasing forest cover, between now and 2030.

Prime Minister Narendra Modi met US President Barack Obama and France and Britain's leaders last month, and called for a climate change agenda that helps developing countries with access to finance and technology.

Daily GK Updates : 1st October,2015

Global competitiveness index of India Rank  is 55th Position

Globally, Switzerland has retained its top position as the world's most competitive economy for seventh year in a row and is followed by Singapore, the US, Germany and the Netherlands in the top-five.

These are followed by Japan, Hong Kong, Finland, Sweden and the UK in the top-ten.Among emerging economies, India has ended five years of decline with a 16-place jump to 55th position. However, South Africa is ranked higher and it has re-entered the top 50, progressing seven places to 49th.

Sbi And AndhraBank cuts its  lending rates

1.State Bank of india, bank has decided to reduce base rate by 0.40 per cent to 9.3 percent with effect from October 5.

2.Andhra Bank also reduced its base rate by 0.25 percent to 9.75 percent.

Nestle India Chairman Antonio Helio Waszyk retires on September 30, 2015

The company in a filing to the BSE today said its Chairman and non-executive director Antonio Helio Waszyk will relinquish as a director of the company.

"Antonio Helio Waszyk, Chairman and Non-Executive Director of the company has relinquished his office as a director of the company with effect from October 1, 2015 consequent upon his retirement from Nestle Group," Nestle India said.

1.Waszyk, who is a Brazilian national, had joined the Nestle Group in November 1977.

2.Waszyk was appointed as non-executive Chairman of Nestle India on October 1 2013.

3.He had relinquished the office as Managing Director of the company on September 30, 2013.

Country's largest mortgage lender HDFC Ltd said the bid to raise up to Rs 5,000 crore via NCDs and warrants opens today.

"Committee (of Directors) be and is hereby accorded to open the issue in accordance with Sebi regulations. "In respect of the issue, the bid opening date for the issue shall be September 30, 2015," it said in a filing on the BSE.

1.HDFC Ltd in its annual general meeting held in end of July had said that it will issue non-convertible debentures (NCDs) and warrants to QIBs up to Rs 5,000 crore.

2.With secured redeemable non-convertible debentures of face value of Rs 1 crore each to eligible qualified institutional buyers (QIBs) by way of qualified institutional placement (QIP).

3.In case warrants are exchanged with equity shares of the company, it would result in a maximum issue of 3.65 crore equity shares of face value of Rs 2 each of the Corporation.

The floor price of the warrants shall be Rs 1,189.66 per warrant, it added. The company said the NCDs will mature in March 2017, while the exercise period of the warrants will be 36 months from the date of allotment of warrants.

Also, it said the bidder will be entitled and eligible to apply for at least 7,300 warrants for each NCD applied for in the issue.

RBI Recruitment 2015 For Security Guard, Asst Librarian & Archivist Posts

Name : RBI

No.of Posts: 04

Post Name : Security Guard

Qualification: Candidates should possess minimum of 10th Pass to maximum of Under Graduation.

Age Limit: Candidates age should be between 18-25 years as on 01-09-2015 i.e., candidates must have been born not earlier than 02-09-1990 and not later than 01-09-1997 (both days including). Age relaxation is applicable 5 years for ST & for Ex-Servicemen & others as per rules.

Selection Process: Candidates will be selected based on written test and/ or interview.

How to Apply: Eligible candidates may send their application in A4 sheet (29.7 cm x 21 cm) in the prescribed format affixing latest passport size signed photograph (3 cm x 2.5 cm), along with attested copies of all certificates by Post to the Regional Director, Reserve Bank of India, Human Resource Management Department, Hoshangabad Road, Bhopal, Madhya Pradesh-462011 on or before 28-09-2015. Superscribe the envelope as “Application for the post of Security Guard”.

Last Date To Apply: 28-09-2015.


For Official Notification : Click Here