General Awareness for Bankers

    September 2006
  • The UN Convention on Species, together with its specialized agreements on dolphin conservation and the Whale and Dolphin Conservation Society have declared 2007, as the Year of the Dolphin.
  • According to Standard & Poor’s, a leading Index Provider, 7 Indian Companies (Bharat Forge, Siemens India, Chennai Petroleum, UTI Bank, PNB, OBC, Nicholas Piramal ) are amongst the 300 Mid-size companies in the World which are expected to emerge as challengers to the World’s leading Blue Chip Companies.
  • According to an official report Chandigarh is India’s greenest city with 35.5% of its total 114 SQ KM area under forest and tree cover.
  • According to World Bank’s study on quality of governance in more than 200 countries, India ranks 47th in the list of most corrupt countries, while China was placed at No.31.
  • The Government has granted Mini-Ratna Status to 6 more Public Sector undertakings ( BSNL, Bharat Earth Movers, Hindustan Latex, Engineering Projects of India, Rashtriya Ispat and Garden Reach Shipping & Engineers ) which will entitle them to make investments up to Rs.500 Crore in both joint ventures or subsidiaries and capital expenditure.
  • South Indian Bank has won the Special Award for excellence in banking technology from the Institute for Development and Research in Banking Technology. This bank is the only old-generation Private Sector Bank to receive this Award.
  • Cost Inflation Index (CII) stands at 519 now. This is a five-fold growth in about quarter of a century. The base year for the Index is 1981-82.
  • Bajaj Auto, Infosys, BHEL are among the 12 Listed Indian Companies that have figured in the latest list of “Fabulous 50” of Prestigious International Magazine Forbes Asia.
  • Western Coalfields Ltd.(WCL) has bagged the Prestigious Greentech Environ-ment Excellence Award for 2006 for outstanding achievement in Environment Management.
  • The Government is proposing to set up about 30 Indian Institutes of Information Technology (IITs) to tackle a severe manpower crunch in the IT Sector across different states on a Public – Private Partnership basis.
  • The First-ever Female Space Tourist, an Iranian–born US citizen and telecom tycoon Anoushesh Ansari settled into the International Space Station for a multi- million dollar cosmic holiday.
  • According to Survey/ White Paper on “The Changing Lifestyle Expectations of the Affluent India “ of American Express, there are estimated 7,11,000 individuals with liquid cash of over $100,000 in India and the number is expected to increase to 1.1 million, growing annually at 11.6%by 2009.
  • The postal savings bank will take over China Post’s savings branches and will become the Country’s Fifth Largest Bank after the “Big Four” State Owned Commercial Banks.
  • HP has launched the world’s fastest photo printer. The new One-touch machine allows to get professional –quality prints in 12 seconds flat at home.
  • Central Information Commission has ruled that the mark sheets and model answers to set questions should be disclosed under the Right to Information Act (RTI) after the entire process is complete.
  • India telecom operators added the Highest Number of new cellular users in the World in a single month in August. With 5.9 million new mobile users, India has beaten China (added 5.19 million new cellular users in same period).
  • Indian woman scientist Ms Mala R.Chinoy has been chosen for the 2006 Science Spectrum Trailblazer Award for her pioneering work in cardiopulmon-ary defects in newborns, bagging 2nd such prestigious Prize in two years.
  • A striking multi-colored bird , Bugun Liocichla, scientifically known as Liochichla bugunorum was discovered in May at the Eagle nest Wildlife Sanctuary in Arunachal Pradesh in the country after 50 years.
  • ONGC Director (Human Resource), Mr. Ashok Kumar Balyan, has been conferred the Best HR-Head Award by Amity International Business School in recognition of his inspiration, leadership and motivation, and for upholding the organization's objectives to achieve new benchmarks.
  • According to Forbes Magazine, Pepsi Co’s Chief- Executive – Designate Indra Nooyi is the Fourth Most Powerful Woman in the World while Congress Chief Sonia Gandhi is at 13th position.
  • In India almost 30% of the power generated is wasted as compared to just 4% in Japan.
  • According to the Study, published in the latest issue of “Geophysical Research Letters”, year-round sea ice in the Arctic shrank by one seventh between 2004-05, a dramatic event that could herald a vicious regional circle of warming.
  • According to the IDC Dataquest Best Employer Survey 2006 covering 32 IT companies and 3006 employees of the participating companies, the Overall Industry Employee Satisfaction Index has dropped by about 11% due to the steady increase in expectation levels of the employees and the inability of the employers in managing the same.
  • According to the IDC –DQ Best Employer Survey 2006,Country’s Largest software exporter Tata Consultancy Services (TCS) is the Best Employer while NASDAQ-listed Infosys remains a dream company to work for, as well as the Top company on brand equity.
  • According to new FAO Report, Nearly half of all fish consumed worldwide today is farmed. In 1980, only 9% of the fish consumed came from aquaculture, but today it has gone up to 43%. Accordingly 45.5 million tones of farmed fish worth $63 billion are eaten each year.
  • Business Line has been started in Digital Form. Now any Registered Online user can see each page on the Internet as it appears in the Print edition.

    August 2006
  • The planet that has been derecognised and redefined as Dwarf Planet - Pluto (the no. of planets including earth reduces to 8 from 9).
  • The State whose name is approved for change : Uttranchal to UttarKhand
  • The Prime Minister, Mr. Manmohan Singh lunched Doordarshan’s First Urdu Channel on August 15
  • The President Mr. A.P.J.Abdul Kalam, on the eve of the 60th Independence Day flagged of 3-point Agenda for “Development with comprehensive security”— Formulating an Energy Independence Bill, A Citizens Security Bill and Adopting a Resolution to transform the country into a Safe,prosperous and socio-economically developed nation before the year 2020.
  • Pepsi Co. Inc named President and Chief Financial Officer Indra Nooyi as Chief Executive, effective October 1, succeeding Steve Reinemund who plans to retire next May.
  • Asia’s longest traffic tunnel built on the Manali-Kiratpur highway - a 2.8 Kilometer long double–lane traffic tunnel, has diameter of 10.5 meters & has been built at a cost of Rs.35 Crore and this is the largest tunnel.
  • ONLINE REGISTRATION OF PASSPORT APPLICATIOS : To simplify passport application procedure, Ministry of External Affairs (MEA) has decided to introduce online registration of applications at Delhi’s Regional Passport Office on a trial basis.
  • According to a report by the Currency Board of Hong Kong India ranks 6 in the World with $164 billion as far as its gold and currency reserves are concerned., while China remains the biggest holder of state currency reserves with over $940 billion
  • Scientists at Bangkok have identified two ancient reptiles that swam in ice-cold waters off Australia 115 million years ago and are among the first of their kind found from the period soon after the Jurassic era.
  • Forester Research Inc has said that the off -shore product development market in India has grown 10 fold from $300 million to over $3.1 billion in 5 years.
  • The International Container Security Organization (ICSO) was launched in Bussels, Belgium on June 29. The purpose of this Non-Profit Organization is to develop International standards for inter-model freight container security to counter the threat from terrorism .
  • According to a report by Standard & Poor’s , China’s insurance industry is better than India in fundamentals despite India having a more developed financial market.
  • China will ban foreign cartoons on Prime Time Television from September in a bid to protect the domestic animation industry due to the effect of foreign pop culture on the minds of the country’s youth.
  • India is considering a new consumer price index covering all segments of the population in more than 300 towns to get a picture of inflation. At present wholesale price index data are released every week and consumer price index for industrial workers every month.
  • According to a study by the CII Infrastructure Council, India needs to invest $331 billion in infrastructure over the next 5 years for the country’s GCFI(Gross capital formation in infrastructure) to reach 8% of GDP by the end of the 11th Five Year Plan Period.
  • Media Agency Mindshare has secured the Top Position in the ACNielsen Media Agency Track Media Agency Equity Index TM, the Country’s Premier study of media agency’s brand equity.
  • According to FORBES List, Wipro Chairman Azim Premji has been placed at 6th position in the list of the World’s 10 richest Tech Titans with a net worth of $13.3 Billion. Microsoft founder Bill Gates has topped the list for 12 consecutive years with a net worth of $50 Billion.
  • Tata Consultancy Services (TCS) is developing the Word’s First Anti-piracy System for Internet Service providers(ISPs).
  • Ohm Laboratories Inc, a wholly owned US Subsidiary of Ranbaxy Laboratories Ltd. , has received the “Private Label Supplier of the year Award” from AmeriSource-Bergen at the Annual National Healthcare Conference & Exposition(NHCE) in Las Vegas.
  • According to the Corruption Perception Index (CPI) of Transparency International for 2005 India has moved up marginally from 90 in 2004 to 88 in 2005 list . Iceland, Finland and New Zealand have again emerged the cleanest countries in the world.
  • The foreign exchange earnings from in-bound tourism , estimated at $2,923 million ( Approx. Rs.13,153.5 Crore ) in 2002 rose to $5,731 million (Approx. Rs.25,789 Crore ) in 2005 , showing a growth of 96% in 3-years time.
  • WNS Holdings has become the First Indian BPO Company to get listed on New York Stock Exchange after it raised about $224 million in an initial public offering at a price of $20 per ADS.
  • CII conferred Excellence Award on Vishkhapattnam Steel Plant(VSP) for Competence, Human Resource Management, Worker’s involvement and Popular Perception about the Plant.
  • According to the report submitted by the Animal Husbandry, Dairying and Fisheries to the World Organization of Animal Health, India is an Avian Influenza free country.
  • CHILD LABOUR BANNED: India, home to the largest number of child laborers in the world, has banned children under the age of 14 from working as domestic servants or at hotels, restaurants and resorts. The ban would come into effect from October 10 and those violating it would face a jail term up to two years and maximum fine of Rs.20,000.
  • Indian Charge Chrome Ltd (ICCL), a constituent of the IMFA group , has been awarded the EEPC (Engineering Export Promotion Council) All India Award for outstanding export performance during 2004-05.
  • ILO statistics of 25 countries having unemployment data updated till 2005 stated that India recorded the biggest decline in the number of job seekers.

    Jul 2006
  • COUNTRY’S LARGEST SPECIAL ECONOMIC ZONE IN HARYANA : Reliance Ventures Ltd. and HSIDC signed a joint venture agreement for setting up the Country’s Largest Special Economic Zone(SEZ) in Haryana, spread across 25,000 acre of land, at an overall investment of Rs.40,000 Crore.
  • Chicago Board of trade, one of the WORLD’S LARGEST COMMODITY EXCHANGES plans to open an Asian office in the country and MOU signed with Assoc ham.
  • Indian Oil commissioned the COUNTRY’S LARGEST Purified Trephthalic Acid (PTA) Plant at it’s Panipat Refinery in Haryana.
  • As per PWC Survey , India and China emerged as the TOP TWO ASEAN DESTINATIONS for bank outsourcing with Singapore in the third spot.
  • According to Global Survey by Ernst &Young (E&Y)China and Hong Kong became the WORLD’S SECOND –BIGGEST MARKET for IPO’s last year.
  • The subscriber base of the New Pension Scheme (NPS) expanded with 16 STATES joining the Center’s new defined contribution pension structure.
  • ONGC Ahmedabad receives Golden Peacock Environment Management AWARD 2006 at Palampur (HP) from Governor of HP.
  • The Rail Coach Factory (RCF) has commenced the production of GARIB RATH (CHARIOTS OF THE POOR) coaches, the dream project of Central Railway Minister.
  • The word “Time” tops most common Nouns List in the latest Oxford Dictionary published.
  • The Union Cabinet approved a new 15-point programme to prevent and control communal incidents and take care of minorities welfare.
  • Ogilvy & Mathur has won the Yahoo Big Idea Chair AWARD in the Corporate Social Responsibility Category at the 53rd Cannes Advertising Festival 2006.
  • Japan formally lifted its 20 YEAR OLD BAN on import of Indian mangoes.
  • The National Academy of Science, Washington has reported that the Earth is now the HOTTEST IN 400YEARS.
  • The Aditya Birla Group buys a Canadian based BPO Company for $125 million (Rs.575 Crore )
  • As per Survey of Mercer Human Resource Consulting Firm, Moscow has been adjudged as the WORLD’S PRICIEST CITY.
  • L.N.Mittal emerged as Head of the World’s Biggest Steel company “ARCELOR-MITTAL”
  • Indian- American Benita Singh, a Yale University student (NRI) has been chosen by the “Newsweek” Magazine for it’s Annual “Giving Back Awards” in New York.
  • According to the Organization for Economic Co-operation and Development (OECD) France has toppled US as top FDI investor abroad in 2005.
  • The Centre has given the go ahead to Municipal Bonds that will offer 8% Tax-Free return and carry Government Guarantee.
  • WTO TALKS COLLAPSE IN GENEVA : The Mini- ministerial conference of the world Trade Organization (WTO) in Geneva ended in a deadlock.
  • IBM’s Blue Gene at Lawrence Livermore crowned World Champion by the TOP 500 list of the fastest supercomputers used for performing scientific applications.
  • Sakthi Masala has bagged the Energy and Resources Institute’s (TERI) Corporate Social Responsibility Award from Dr. A.P.J.Abdul Kalam , President of India.
  • 8 listed companies entered the Rs.10 billion (Rs.1,000 Crore ) Net Profit Club, taking the total membership to 30 in 2005-06.
  • The Indian Edition of the World’s No. 1 Technology Magazine, PC World, has been launched by IDG Media Pvt. Ltd. While US.
  • US Explorers Mr. Lonnie Dupre and Eric Larsen, became the first to reach the North Pole by canoe and on foot in summer, in an expedition aimed at drawing attention to how global warming is threatening polar bears with extinction .
  • As part of its plan to take American Education to the rest of the world , American Higher education Inc (AHED) has opened its First Overseas Learning Centre at Gurgaon in India.
  • Following the footsteps of Call Centers, Data Processing and Accounting Firms, Lawyers in Canada have begun outsourcing legal work to India.
  • According to a recent Ac-Nielsen Global Online Survey about consumers' attitudes towards shopping, the World’s Biggest Shopaholics are to be found in Asia.
  • The “ Wage report in Rural India” brought out by the Labour Bureau for the Agricultural year 2004-05 has placed Masons ahead of carpenters, blacksmiths, cobblers amongst others and pegged the All India Average daily wage for a male mason between Rs.121.32 and Rs.123.56.
  • The G AIL Chairman, Mr. Proshanto Banarjee, has bagged the SCOPE Individual Excellence Award for the year 2004-05 which recognizes his contribution to public sector management
  • The Central Cabinet revised the pension under the National Old Age Pension Scheme to Rs.200 from Rs.75 per beneficiary per month.
  • Hindustan Aeronautics Ltd. ranked 45 position among the global league of top 50 aerospace companies. it has moved up 6 slots up since last year ‘s rank of 51.
  • In tune with the Prime Minister’s policy line, all the 536 Krishi Vigyan Kendras (KVK’s) in the country will take a new role as “Knowledge Banks” to serve as science-based institutions for transforming technology to the farmers
  • The country’s share of the world’s life insurance business has doubled in the five years since liberalization and this increase has pushed up India’s ranking to number 17 from 20 in 2000.
  • The Union Cabinet has approved the setting up of the Sixth Pay Commission for nearly 3.3million Central Government Employees with an outer time frame of 18 months to submit its recommendations.

    Jun 2006
  • INDIAN ECONOMY : 2005-06 (Growth rates in %age) 2005-06 2004-05
  • Gross Domestic Product 8.4 7.5
  • Agriculture 3.9 0.7
  • Manufacturing 9.0 8.1
  • Mining & querrying 0.9 5.8
  • Electricity, gas water supply 5.3 4.3
  • Construction 12.1 12.5
  • Trade Hotels Transport 11.5 10.6
  • Financing, insurance 9.7 9.2
  • Community services 7.8 9.2
  • Per capita income (Rs.) 21005 19649
  • GDP Size : Rs.2595339 cr (at factor cost base 1999-00)
  • Multinational company that shifts its tele network service to India from Finland: NOKIA
  • Company that got the Golden Peacock Environment Management Award -2006 “ from the World Environment Foundation Hindustan Zink Ltd.
  • Indian State that has occupied the top slot among states with a share of around 37% in the IT exports of the country as per Electronics and Computer Software Export Promotion Council - Karnatka
  • LEADERSHIP AWARDS : Noted heart surgeon Dr. Devi Prasad Shetty and educationist Dr. Abraham Ebenezer received the Global Leadership Awards in Banglore for distinguished service in the fields of healthcare and education from the Centre for Contemporary Issues(CCI).
  • VP SINGH, NEW CBEC CHIEF: Mr. V.P.Singh, is new Chairman of Central Board of Excise and Customs, has replaced Mr. M. Jayaraman, who has superannuated.
  • INDIA’S FIRST ‘ DESIGNER MALL : India’s first Designer Mall 'Gallops', opened in Ahmedabad on June 10.
  • Wage ceiling for coverage under ESI scheme of Employees' State Insurance Coporation revised to Rs.10000 per month from Rs.7500.
  • INDIA JOINS THE 100-M MOBILE CLUB : India has become the 5th country in the world to have more than 100 million mobile subscribers. China has the highest number of mobile users with 404 million subscribers.
  • First President to make a sortie in a SU-30MKI multirole combat Aircraft: Mr. A.P.J.Abdul Kalam.
  • CEO of the Year Award by Frost and Sullivan Asica Pacific ICT 2006: Sunil Mittal, CMD, Bharti Airtel
  • WORLD’S BIGGEST AIR CARGO TERMINAL : Hong Kong based Cathay Pacific Airways Ltd, Asia’s third –largest freight carrier, plans to build the World’s biggest Air Cargo Terminal in Hong Kong to meet growing demand and lower costs.
  • INDIA “NEWS-PAPER POWER” : According to a report of Paris–based World Newspaper Association (WAN) although China remains the topper with 96.6 million copies sold daily, India with 78.7 million copies sold daily leads the major democratic powers with free press.
  • INDIA’S FII EXPOSURE AMONG HIGHEST: India has one of the highest exposures to FII inflows among emerging economies. In India, FIIs formed nearly 70% of foreign investment. The percentage in China and Brazil was 26% and 30% respectively in 2005.
  • Largest Bio-cluster in India: Bangalore with 158 of 320 companies and turning out total revenues of Rs.1400 Crore. 55% percent of the biotech companies are located in Karnataka.
  • India’s second largest software exporter that has debt-free status- Infosys Technologies Limited.
  • CHANGING ATTITUDE OF INDIAN WOMEN : Cogito Consul ting’s ( Research Division of FCB-ULKA), second Woman Mood Study says that Indian woman has never been as expressive and independent as she is today.
  • ONLINE FILING OF BROKER’S RETURNS: Brokers will simply have to log on to insurance regulator IRDA’s Web site to file annual returns on-line. Brokers have been told to submit the data online for the financial years 2003-04,2004-05 and also for the year during which the license was granted, before June 30.
  • ONLINE SERVICE FOR SMALL SAVINGS : Finance Minister, launched a Web site of the National Savings Institute(NSI) for dissemination of information and online redress of complaints related to small savings schemes offered by the Central Govt.
  • IGL, WINNER OF GOLDEN PEACOCK ECO-INNOVATION AWARD 2006 : Indraprasth Gas Ltd., the sole supplier of compressed Natural Gas and Piped Natural Gas in National Capital Territory of Delhi, has been declared winner of the Golden Peacock, Eco-innovation Award for 2006 by the Jury headed by Justice P.N. Bhagwati, Former Chief Justice Of India·
  • FRENCH RUDDEST AND BORING : Survey by Travelers’ Web site “Where are you now” said that the French were the most unfriendly nation and most boring people on the planet.
  • INDIA’S OLDEST MAN CLEBERATES 137TH BIRTHDAY : Habib Miyan, believed to be the country’s oldest living man celebrated his 137th birthday with a dream to enter Guinness Book Of World Records.
  • INDIA LAGGING ASIAN COUNTRIES IN TOURISM: India continues to lag behind China, Indonesia, Thailand and Hong Kong in terms of tourists’ arrivals. In comparison to the 3.92 million tourists who visited India in 2005, China received 47.11 million visitors, Hong Kong 23.40 million, and Thailand 11 million.
  • GOVT. CLEARS FIRST FDI PROPOSAL IN RETAIL SECTOR: The Government has approved the First FDI Proposal of Moja Shoes Private ltd. in the Retail Sector. FDI up to 51% in retail trade had been permitted by the Govt. in February.
  • NEW CHAIRMAN AT ONGC: Mr. R.S.Sharma, Director (Finance) has been asked to officiate as CMD of ONGC. He has replaced Mr. Subir Raha, whose grandiose vision and big bang ideas made ONGC India’s most valuable firm.
  • NAVAYUGA COMPLETES BRIDGE IN RECORD TIME: Navayuga Engineering Company Ltd. (NEC) has created a record by completing the 3-KM long bridge on the Krishna River in 11 months. This is the shortest time taken for completion of any such project in the entire Asian Region.
  • TAX RETURN PREPARERS SCHEME : Under the Tax Return Preparers Scheme, to be launched as pilot project from September 1 2006, the return preparers will be allowed to keep a certain percentage of the tax collected from a new tax-payer.

    May 2006
  • AWARD FOR YOUNG SCRIPT WRITER : 9 year old Director ,Producer and Script Writer from Mumbai Anshul Khosla has won the “Best Script “ Award for his 16-minute Documentary on Street Children “ Love Changes Everything “ at the inaugural Young Film Makers Film Festival at Toronto in Canada.
  • 36% POPULATION IS OBC: According to the National Sample Survey’s 1999-2000 round , around 36% of the country’s population is defined as belonging to the Other Backward Classes ( OBC ) and not 52% as defined by the Mandal Commission, a number that most politicians still use while asking for reservations .
  • INDIAN TREATMENT OF EVACUATED PEOPLE: India alongwith Nigeria, Angola and Zimbabwe is rated as worst in treatment of evacuated people as per UN.
  • HIGHEST OUTSOUCING CONTRACT : According to outsourcing advisory firm TPI, 83 outsourcing transactions with a total contract value of $22.7 billion made in the first quarter is the strongest ever performance in the history of outsourcing.
  • A.T. KEARNEY RANKS INDIA AS TOP DESTINATION FOR RETAILERS : AT Kearney’s Global Retail Development Index (GRDI) which ranks 30 emerging countries based on a set of 25 variables including economic and political risks, retail market attractiveness and retail saturation levels, has retained India’s position at the top.
  • NARAYAN MURTHY MOST ADMIRED BUISNESS LEADER : As per study conducted by Brand–Comm, a Bangalore based company, 545 students from 13 B-schools including three IIms, Mr. Murthy, Chairman of Infosys has been adjudged as “Honest, Passionate and Country’s most admired Business Leader".
  • INSURANCE BIZ TO TOUCH $ 60 BN : As per study conducted by Industry Body “ Assoc ham”, with most people in rural and semi-urban areas still uninsured, the Indian Insurance Business has a potential to increase 6 times to become a $60 billion industry by 2010 from it’s current size of $10 billion.
  • BUSINESS CONFIDENCE BOOMS, HIGHER GROWTH SEEN-FICCI’S SURVEY : According to FICCI’s Quarterly Business Confidence Survey for the last quarter of 2005-06 , the strengthening domestic demand coupled with the spurt in demand for exports have resulted in higher capacity use levels and there are expectations that in the next six months employment generation would be much higher not just in service sector but also in the manufacturing.
  • POWER TARGETS : The Govt. has set itself a target of commissioning 53 Power Projects with a cumulative capacity of 20,300 MW across the country during the current fiscal.
  • RIGHT TO EDUCATION: The Centre has decided to ask all states to include or amend laws to make Right to Education a Fundamental Right.
  • HOTEL FOR THE SOUL: The first private cemetery in Germany, with room for 10,000 paying guests, was inaugurated in a forest near Cologne. It holds some 40 graves, which costs between 350 and 2000 Euros.
  • FIRST BOX TRAIN TO SHORTEN DISTANCE: The first Container train has been flagged off from Gateway Distripark Ltd’s (GDL) inland container depot (ICD) in Garhi Harsaru, Gurgao to Mundraport in Gujarat. It would shorten the rail link distance to about 1100 KM between Tughlakabad depot and Gujarat ports.
  • APEDA QUALITY AWARD : The Union Commerce and Industries Minister has given The Silver Trophy Award to SKM Egg Products Export Ltd. in Erode in Tamilnadu for quality system implementation and export performance in Agricultural and Processed Food Products Segment for the year 2004-05.
  • WORLD BANK INVESTMENT IN HYDEL PROJECTS: The World bank has firmed up plans to assist in Hydel Power Generation Projects. The Bank will finance only run of the river projects and not ones involving construction of a dam.
  • RETAIL HOLDING IN MAJOR CO. LESS THAN 5%: According to Study of ET relating to shareholding pattern of 2830 companies it has been noticed that over a 100 companies actively traded on the stock exchange, half of them belonging to the A group, have public shareholding of less than 5%. In many cases, their public stake is around 1-2%.
  • TECH BANKS FOR SMALL ENTERPRISES : Centre is planning to create Technology Banks for Small and Medium Enterprises across the country.
  • INDIA, DIABETES CAPITAL : According to reports of WHO there are close to 171 million people worldwide suffering from the disease and the figure is expected to touch 366 million by 2030. India has turned out to be the diabetes capital of the world with over 32 million people affected by it.
  • UNDP AWARD: Aavishkar India Micro Venture Capital Funds has won the World Business Award sponsored by United Nations Development Programme (UNDP).
  • STANDARDS ON INTERNAL AUDIT: ICAI has given approval to a standard by “Planning an Internal Audit “. This is first of the several standards on internal audit that are to be issued in the current fiscal.
  • ESCOR AWARDED : Railway Ministry has sanctioned an award of Rs. 1 Crore to the staff and officers of East Coast Railway in appreciation of the excellent job done in the field of freight operations.
  • INDIA SECOND LARGEST INVESTMENT DESTNATION : India’s strategic location as the gateway to South Asia , its recent initiative in setting up a number of Special Economic Zones (SEZ) across the country coupled with it’s skilled manpower, legal system, rapid advancement in industrial processing and manufacturing have made Germany to consider India as the European Nation's second largest investment destination, after China.
  • DEADLIEST YEAR IN A DECADE FOR SCRIBES: The Annual Report released for “World Press Freedom Day to Day’ says Journalists around the world faced many casualities last year, the Deadliest in a decade for Journalists.
  • FRNCH RUDDEST AND BORING-STUDY : Decisive 465 of the 6000 people surveyed by Travelers’ Web site “ Where are you now” said that the French were the most unfriendly nation and most boring people on the planet.

    April 2006
  • BUISNESS STANDARD AWARDS : The Union Finance Minister presented the ‘ Business Standard Awards, 2005” (1) B.Muthuraman ,MD of Tata Steel got the CEO of the Year Award(2) P.J.Nayak,CMD of UTI Bank , received the Banker of the Year Award (3) Sandip Sabharwal , Head of SBI Mutual Fund , received the Equity Fund Manager of the Year Award
  • TALLEST MAN : The world’s tallest man, Mr. Bao Xishun, 55 from China is 2.36 meters tall.
  • WOMAN OF THE YEAR AWARD : Ms. Rajshree Parthy, CMD of Rajshree Group of Companies was awarded “ Woman of the Year “ in Chinnai.
  • FIRST INDIAN ART INDEX: The Economic Times unveils the World’s first ever index on Indian Contemporary art. The ET Art Index of 51 Artists, powered by Osians, would be published every alternate Tuesday.
  • ONGC STILL NO. 1: Riding high on global crude oil prices, ONGC managed to maintain its position of being the highest profit making company in India Inc for fiscal 2005-06.
  • INFLATION : As per RBI Report inflation in India remained contained in 2005-06 due to fiscal and monetary measures undertaken since mid 2004. The year-on- year wholesale price inflation was 3.5% on April 1,2006 compared to 5.7% a year ago.
  • BRITAIN’S FLAG - 400 YEAR OLD: Queen Elizabeth II is 80 year old and the flag- waiving crown is a 400 year old symbol of Britain. Union Flag was first flown on April 12, 2006.
  • NEW CHIEF OF TRAI: The former Secretary of the Deptt. Of Telecom (DOT) Mr. Nipendra Mishra has been appointed the next Chairman of the Telecom Regulatory Authority of India.
  • National Export Insurance Account (NEIA) : ECGC and the Ministry of Commerce have set up NEIA. Scheme to provide risk cover to medium and long term high- value projects with duration of more than five years.
  • ANCIENT COINS : One tonne of ancient coins dating back about 900 years were found about 6-7 meters underground when an excavator was working at a construction site in northwest China’s Shaanxi Province.
  • CHENNAI FOR OFFSHORING SERVICES : According to A.T. Kearney’s Indian City Services Attractiveness Index 2005 Chennai is the most attractive Indian City for off shoring services beating traditional top cities such as Bangalore, Mumbai etc.
  • CHINA FOREX RESERVES : China’s foreign currency reserves reached $853.7 billion by the end of February, likely topping Japan’s to become the World’s largest.
  • GLOBAL IT RANKING: According to rankings by the World Economic Forum, the US has taken over from Singapore as the Top Country for the development of information and communications technology. India has been placed at the 40th position.
  • Ranbaxy Laboratories Ltd. announced the acquisition of Romanian Pharmaceutical company , Terapia SA for $324 million (Rs.1,445 Crore).
  • VIZAG NO 1 PORT: The Vishakapattnam Port Trust (VPT) has emerged the premier port in the country for the sixth consecutive year.
  • FROST & SULLIVAN AWARD : TVS Logistics Services Ltd. has been awarded the Frost & Sullivan’s 2005 Voice of Customer Award for best domestic logistics service provider.
  • GLOBAL GDP GROWTH- INDIA 4th LARGEST CONTRIBUTER. As per ETIG analysis, the Indian Economy is the fourth largest contributor towards incremental global GDP growth in 2005. The US tops the list followed by China and Japan.
  • CORPORATE TAX ON PAR WITH GLOBAL RATES : As per KPMG ‘s Global Survey, Indian Corporate tax rate , at 33% plus surcharge, is now comparable to rates prevailing in most major economies in the world, including the US, Germany and other European countries.
  • WTO RANKINGS: WTO statistics point out that India’s ranking among merchandise exporters in 2005 improved from 30 to 29, while it’s ranking among importers jumped to 17 from 24.
  • BUSINESS CONFIDENCE LEVEL : According to National Council of Applied Economic Research (NCAER) the Business Confidence Index has touched the highest point in the first quarter of 2006 to 154 since November 94.
  • INDIAN RANKINGIN ENVIRONMENT PROTECTION : As per the Report called “Pilot 2006 Environmental Performance Index” India is under-performing in many of the indicators related to environmental performance and protection of natural eco-system , ranking at a low 118th position among 133 countries.
  • DELHI, MUMBAI RANKING : A study conducted by HR Consultancy Mercer, comprising 350 cities across the world, ranks New Delhi and Mumbai at 150th position in the global ranking of cities based on the quality of living offered by them.
  • OLDEST BANK IN WORLD: Monte Dei Paschi Di Siena, the oldest bank in the World has set a representative office in Mumbai. The Bank established in 1472 had funded the expedition of Christopher Columbus. It has now 2000 branches and employs 4.5 million customers.
  • O&M IS AGENCY OF THE YEAR : For the seventh consecutive year O & M has been declared the Agency of the Year at the Ad Club of Bombay’s 39th Abby Awards.
  • INDIAN RANKING IN CAPITAL HOSPITALITY INDEX : Forbes has placed India below Brazil , but above China and Russia in the recently launched 135-country Forbes Capital Hospitality Index.
  • GAIL BAGS AWARD: Gail (India) Ltd. has bagged the prestigious Sarvashreshtha Suraksha Puraskar for the year 2005 for liquefied petroleum gas plant, Vijapur, MP.
  • Sindhu Bhushan award: Mr. Mohanlal G. Kewalramani (Jaisu Shipping and Dredging Company), received the “ Sindhu Bhusan “ Award for his contribution in the field of dredging in the country.
  • INDIA RANKING IN WIND ENERGY: According to World Wind Energy Association (WWEA) India ranks fourth in the world in wind power , both in terms of overall capacity (4,430MW) and additions (1,430MW).
  • LANKAN CLOCK : Sri Lanka put the clock back by half an hour on Saturday to rejoin the same time Zone as it’s Neighbor India after a 10 year break.

    Mar 2006
  • Oscar Awards 2006
  • (78th Annual Academy Awards)
  • Best Picture – Crash, Best Actress – Reese Witherspoon for Walk the Line, Best Actor – Philip Seymour Hoffman for Capote, Best Director – Ang Lee (being the 1st Asian) for Brakeback Mountain, Best supporting Actress – Rachel Weisz for The constant Gardner, Best supporting actor – George Clooney for Syriana
  • 51ST FAIR ONE FILMFARE AWARDS IN MUMBAI: Best Film- BLACK Best Actor - AMITABH BACHCHAN Best Actress- RANI MUKHARJI Best Director- SANJAY LEELA BHANSALI Best Supporting Actor (F) - AYASHA KAPOOR(Black) Best Supporting Actor-ABHISHEK BACHCHAN ( SARKAR ). Black Film finished with a record of 11 Awards.
  • Melbourne Commonwealth Games : Medals Tally: Australia 221 (84 gold), England 110 (36 gold), Canada 86 (26 gold) and India 50 (22 gold). Next Commonwealth games to be hosted by India at New Delhi.
  • AWARD FOR DREDGING : Mr. Mohanlal G. Kewalramani , CMD of Jaisu Shipping and Dredging Company, has received the “ Sindhu Bhusan “ Award for his contribution in the field of dredging in the country.
  • EC LAUNCHES FIRST INDIAN ART INDEX: The Economic Times unveils the World’s first ever index on Indian Contemporary art. The ET Art Index of 51 Artists , powered by Osians, would be published every alternate Tuesday in the Stock page.
  • NEW CHIEF OF TRAI: Former Secy of the Deptt. Of Telecom (DOT) Mr. Nipendra Mishra.
  • CHINA TOPS IN ACCIDENTS : China’s no.of road accidents and the related death toll ranked the first in the world last year.
  • RECORDTO HIGHLIGHT EVIL OF CHILD LABOUR : Mr. B.Nagraj, a 22 year old B.E.Engineering College student (Coimbtore) has successfully completed writing continuously for 120 hours, to highlight the evils of child labour. Nagraj could even find his name in the Limca book of records as the known record is for 26 hours.
  • IISCO MERGES WITH SAIL : Indian Iron and Steel Co. ( IISCO) has merged with parent Co. Steel Authority of India Ltd. (SAIL) wef Feb.16.The merged entity will be known as IISCO Steel Plant.
  • INDIA US SEAL NUCLEAR DEAL : India and US crossed a major milestone in the civil nuclear cooperation after the Prime Minister, Man Mohan Singh and US President , Mr. George Bush, reached an understanding on the implementation of the Jul 18,2005 agreement on the issue.
  • SERVICE TAX DEFAULTERS FACE HEAVY PENALTIES: Govt. proposes to bring Rules for Valuation under service tax. As per New 76 section to be substituted, a penalty at the rate of Rs.200 would be imposed for every day of failure to pay service tax or at the rate of 2% of the tax per month , whichever is higher , in case of failure to pay the tax by the due date.
  • ITRIX BAGS AWARD FOR WEB CONFERENCING SERVICE : “ Citrix Go To Meeting “ from Cyrix Systems has bagged the 2005 Frost & Sullivan Award for “ Best New Web Conferencing Service”.
  • NATIONAL LOAD DISPATCH CENTRE: Centre has decided to establish NLDC at Delhi with a back up at Calcutta, as a first major step towards having a full-fledged National Power Grid.
  • TOP FRENCH HONOUR : US writer Norman Mailer ,83 was decorated with France’s Highest Award ,the Legion of Honour for Mailer’s contribution to literature and for his ties to France.
  • PAN MANDATORY FOR DEMATS : The permanent account number (PAN) has become mandatory for demat accounts with SEBI deciding to make PAN compulsory from April 1 for opening new demat accounts.
  • INDIAN COMPANIES SECOND LARGEST INVESTER IN LONDON: According to Think London , the foreign Direct Investment Agency for London, Indian Companies account for 30% of all foreign investment in London , making it second largest overseas investor in the city after the US.
  • FIRST ASIAN TO WIN BEST DIRECTOR : Taiwanese- born film maker Ang Lee became the first Asian to win the best Director OSCAR for his aching story of cowboys in love.
  • SATYAM GETS SOCIAL RESPONSIBILITY AWARD : Global IT Consulting and servicing company Satyam Computers has got the “ Social Responsibility Award 2005” from Business- world and FICCI-SEDF.
  • WORLD’s YOUNGEST BILLIONAIRE: Ms.Hind Hariri daughter of slain Lebanese Prime Minister Rafiq Hariri is the youngest Billionaire on Forbes Annual List of the Wealthiest.
  • 1POINT SIZE, AGENCY OF THE YEAR : Sharad Haksar's I point size bagged the Agency of the year Award at the 29th Advertising Club Madras Awards, Spark 2006 Mr. Ananthanarayanan was declared the “ Copywriter of the year” while the same agency’s Mr. C.P.Sajith was adjudged the art director of the year.
  • IIMB GRAD CRATES HISTORY : Mr. Gaurav Aggarwal of the graduating batch of The Indian Institute of Management , Bang lore , has crated history with his offer letter of $193,000 from Barclays Capital London, for International Posting. He is now the highest -ever.-paid graduate across all IIMs.
  • ANIL 2ND RICHEST INDIAN WITH $12B : Consolidation of his Telecom Business into one single entity, Reliance Communications Venture Ltd. has made Anil Ambani the second wealthiest man in the country after Azim Premji of Wipro.
  • INDIA SECOND IN LEAGUE OF “SUPER GROWTH “COMPANIES: India and Hong Kong have jointly been ranked second in the Grant Thornton International Super Growth Index for the country with the highest proportion of “Super Growth” companies. The US has topped the Index for the second consecutive year , but the proportion of “Super Growth” companies in the US has actually fell by 9%.
  • HARYANA's FIRST HARAPPAN CITY : A 32 Acre area in Meham of Rohtak District in Haryana that was under cultivation is being touted as the first discovery of sprawling Harappan city.
  • WORLD RECORD AT WINE AUCTION: Six magnums of Burgundy have been sold for more than $170,000 at New York, making a new world record for a case of wine at auction (previous record $136,000 bid for the 1971).

    Feb 2006
  • CHINA - WORLD’S 4TH LARGEST ECONOMY: China’s economic growth of 9.9% last year has placed it past Britain, to 4th place in the world gross domestic product rankings.
  • CONSUMER PRICE INDEX : The consumer price index stood at 5.57% in December on an annual basis compared with 5.33% in November. It stood at 3.78% in Dec 2004.
  • JAPAN JOBLESS : The jobs to applicants ratio for December rose to 1.00 from 0.99, meaning 100 jobs were available for every 100 applicants, the first time it had reached the even level since September 1992.
  • WEALTHIEST SHAREHOLDER: Rajesh Jhunjhunwala is the wealthiest among shareholder – billionaires with a net worth of Rs.1,455.41 Crore.
  • 51% FDI IN SINGLE BRAND RETAIL CLEARED : Cabinet approved new FDI norms for several sectors including retailing.FDI up to 100%has been permitted under RBI’s automatic route.
  • MUTHURAMAN IS BS CEO OF THE YEAR : Tata Steel MD B.Muthuraman is Business Standards CEO of the year.
  • INDIA MAY BECOME NET EXPORTER OF ZINC : India, a net importer of Zink , may become a net exporter of the metal this year for the first time as new production is set up to grab a share of booming demand.
  • WORKER ON CONTRACT : A person working with a government department on the basis of a contract can not be said to be a “ Government Servant “ the Supreme Court has ruled.
  • E-FILING FACILITY FOR COMPANIES :The Ministry of Company Affairs rolled out its pilot e-governance initiative MCA-21 on Feb.18 at Coimbtore followed by Jaipur on 27.Through this initiative a businessman would be able to register a company online within a few days, as against months taken now.
  • AUDIT WORK IN US :The Institute of Chartered Accountants of India (ICAI) has decided to remove the restriction on practicing chartered accountants or accountancy firms from taking up audit or certification work in the US even if they are members of the American Institute of Certified Public Accountants(AICPA).
  • THORAT NEW UGC CHAIMAN : Government has appointed Sukhadeo Thorat, an economic professor, as chairman of the University Grants Commission.
  • INDUSTRY FOUNDATION AWARD : CMD of Export Import Bank of India, Mr. T.C.Venkat Subramanian, has been awarded the best CMD-Financial Institutions honour by the Foundation of Indian Industry and Economists.
  • INDIA, SIBERIA DOUBLE TAX AVOIDANCE TREATY : India and Siberia & Montenegro has signed a double taxation avoidance convention (DTAC) to promote trade and investment between the two countries.
  • TCS GETS MOODY’S BAA1 RATING : Moody’s Investors Service has assigned its A3 issuer rating and an indicative foreign currency debt rating of Baa1 to Tata Consultancy Services. The rating outlook is stable.
  • ANDHRA BANK BAGS IBA AWARD : Andhra bank was conferred the Runners Up Award under “Best Payments Initiative” at the IBA Banking Technology Awards 2005.
  • WOMEN & MICRO FINANCE: Women avail themselves of 95% of micro finance in the country as per Mr. Ramesh Arunachalam, Director, Micro Save.
  • BONUS ON POST OFFICE DEPOSITS : Government has decided to do away with the 10% bonus on the maturity value of accounts. This will reduce the effective returns on the monthly deposit schemes, that have a tenure of 6 years from around 9.5% to 8% from Monday.
  • INDIA IBM’S SECOND LARGEST BASE: For International Business Machines Corporation, the World’s largest computer-services company India is second biggest base of employees, with more than 38,500 workers in the country at the end of 2005.
  • US TRADE DEFICIT AT NEW PEAK : The US trade deficit hit a new record of $725.8 billion in 2005, up 17.5% from the previous record of $717.6 billion set in 2004, the Commerce Deptt. Said. This was the fourth year straight year that the nation’s trade deficit hit a record.
  • 2005 was warmest year on record : US Space Agency NASA said that last year was the warmest recorded on earth’s surface and it was unusually hot in the Arctic.
  • INDIA’s FIRST LOAN DEFAULT: National Highways Authority Of India (NHAI) has defaulted on a foreign loan. For the first time ever, the Government or one of its agencies has defaulted on a foreign loan.
  • REGISTRATION OF MARRIAGE COMPULSORY: The Supreme Court has directed the centre and state governments to take steps for amending the rules and procedures within three months for making registration of marriage compulsory.
  • FASTEST TRAIN IN INDIA : Country’s fastest train was launched between Delhi and Agra with top speed of 150 KM per hour. It covers the 198 KM distance in one hour and 56 minutes.
  • GLOBAL ATTITUDE- BBC STUDY: Global attitude and behavior is visible in Mumbai according to BBC World’s Global Indian Survey. The survey has indicated that 35% of Global Indians or Globizens reside in Mumbai, 20% in Hyderabad, 16% in New Delhi, 9% in Chennai and 8% each in Kolkata and Bangalore.
  • ISRO DIRECTOR TO HEAD TO HEAD UN SPACE PANEL: Dr. B.N.Suresh, Director of the Indian Space Research Organizations launch vehicle activity hub, the Vikram Sarabhahi Space Centre, has been elected by consensus to head a sub-committee of the UN Body on space. The 69 member UN Corpus was formed in early 1960s.
  • LAHIRI PANEL: Committee set up under the chairmanship of Dr. Ashok Lahiri, Chief Advisor to Ministry of Finance to examine the trend and developments relating to supply- demand and prices of edible oils and to suggest rationalization of excise and customs duties.
  • SMERA RATINGS : SMERA has so, far clocked 200 applications for ratings , a good portion of which are referrals from banks.
  • LIMIT ON DRAWBACK PAYMENTS : Finance Ministry has stipulated that the amount of drawback or the rate should not exceed one third of the market price of the export product. The drawback scheme currently serves about 30% of the country’s exports, value-wise.
  • PANEL ON ENERGY SECURITY: The Planning commission expert committee (chairmanship of Dr. Kirit Parikh), to prepare an energy policy linked with sustainable development that covers all sources of energy and addresses all aspects, including energy security, access and availability, and pricing, efficiency submitted its report.
  • E-FILING FACILITY FOR COMPANIES : The Union Cabinet gave its nod for introducing a bill to amend the Companies Act,1956 to enable corporate to use e-filing facilities.
  • COMPANIES BORROWING VIA ECB ROUTE : According to RBI data, Indian Companies raised nearly $10 billion through ECB in the first 9 months of the current fiscal. This was lower than $10.22 billion raised in the corresponding previous period.
  • CARBON TRADING: PROJECT REGISTRATION AT UN : 20 projects from India have been registered at the UN Panel as clean development mechanism (CDM) activities till date with the latest being those of Rajshree Sugar an Chemicals Ltd.Tamil Nadu. CDM activities are those projects that reduce green house gas (GHG) emissions and trade carbon credits.
  • INDIA's RANKING IN FORBES CAPITAL HOSPITALITY LIST: The Forbes has listed Denmark, Finland , Iceland, US, UK, Singapore, Australia, Estonia, Ireland and New Zeeland as the top 10 countries in the world in terms of capital hospitality. India does not figure in the list at all.
  • CHINA ACCOUNTS FOR 70% ACQUACULTURE PRODUCTION: India second with 5%——India has been ranked second in global aquaculture production after China. Indonesia and Vietnam occupy the third and fourth positions. The Global Organization Info fish has observed that of the top 10 aquaculture producers in the world ,eight are from Asia.
  • RANKING OF INDIA’S CORPORATE GOVERNANCE SYSTEM : As per report of The Institute of International Finance, India’s corporate governance system is better than those prevalent in most emerging market economie, but it suffers from poor enforcement of rules and regulations. Although India is now in the process of implementing important corporate governance reforms and its framework in this area is Above Average compared with other emerging market economies, weaknesses remain in the realm of enforcement of rules and regulations.

    Jan 2006
  • Large Taxpayer Unit scheme is expected to be effective from April 01, 2006. The scheme is meant for taxpayers with excise duty payment of Rs.5 cr or above.
  • Google founders have been named as the Financial Times Men of the Year.
  • IT Training major NIIT has been conferred the “ Top Training Company Award for 2004-05 by IT Industry Magzine”DATAQUEST”
  • The biggest deal in the Indian Aviation Sector –Jet Airways acquisition of Air Sahara- The amount of the deal has been approximately Rs.2,200 Crore.
  • Company for which a special trading session was held to discover the price of its shares following demerger - Reliance Ind. Ltd
  • Collective foreign holding through foreign promoters,FII,s,Overseas corporate bodies in Indian companies was 29.70% on September 30.
  • Bharat Heavy Electrical Ltd.has bagged the 2005 ICWAI National Award for Excellence in Cost Management
  • Rural Electrification Corporation Ltd. selected as one of the Top Ten Public Sector enterprises by Government of India for MOU Award for the year 2003-04. This is the fifth time REC has been selected for this Award.
  • The Finance Minister , Mr. P. Chidambaram , has been named the “ Finance Minister of the Year 2005 for Asia “ by the Banker Magazine which is published by the Financial Times Group of London.
  • Growth of more than 13% in foreign tourists arrivals at 3,915,324 during 2005, up from 3,457,477 foreign tourists who visited India during the previous year.
  • Harry Potter tops 2005 best – seller list (JK Rowling’s latest book “ Harry Potter and the Half- Blood Prince” sold 4.1million copies in USA on day one and 7.02 million copies for the full year).
  • Eminent Industrialist, Mr. R.P.Goinka , has been awarded this year’s the “ Life time Achievement Award “ by ICFAI Business School for his 'outstanding business leadership, contribution to strategic thinking in business and an concern for humanity.
  • ONGC has bagged the ICWAI National Award for Excellence in cost management for 2005 under the “Public Sector Manufacturing (Turnover more than Rs. 250 Crore) category.
  • Seven & Holdings Company, Asia’s biggest retailer by market value.
  • DATQUEST has named Mr. Kiran Karnik, President, Nasscom, the apex body for the software industry, the “Dataquest IT Person of the year 2005 “.
  • ICICI Bank has launched a credit card, called “Global Indian Credit Card “for NRI’s. It is an International Card denominated in Indian Rupees and will cater to NRI’s visiting India.
  • Prime Minister’s Office (PMO) has set up a high powered committee (INFOTAINMENT COMMITTEE) on information, communication and entertainment(ICE).
  • Ms M.H.Kherawala : New chairperson of the Central Board of Direct Taxes (CBDT). She belongs to the 1969 batch of Indian Revenue Service.
  • The UNDP(United Nations Development Programme) and the Union Government have selected the Hyderabad –based Center for Good Governance (CGG) for equipping various stakeholders with necessary skills in the implementation of the “ Right to Information Act”. The CGC would act as the National Implementing Agency (NIA) for capacity building of officials, civil society and organizations and people’s groups with regard to implementation of the Act.
  • The Indian financial market turnover topped Rs.81,90,607 Crore (Rs.82 trillion ) in 2005, which is almost 2.75 times of India’s estimated GDP of Rs. 33,00,000 Crore (Rs.33 trillion ).
  • The successful launch of the South Asian Free Trade Agreement (SAFTA) on New Year’s Day is a feather of sorts in the cap of the South Association of Regional Cooperation, especially the schedule –set two years ago when the agreement was signed in Islamabad.
  • The National Tax Tribunal Act 2005, which is a legislation passed by the Parliament has been notified. Under this legislation NTT would hear the cases on substantial question of law from the decisions of the Income Tax Appellant Tribunal and the Customs , Excise and Service Tax Appellate Tribunal.
  • Sensex 3rd best in ASIA. South Korea was the best performing market with returns of 54% followed by Pakistan which gained 53%.
  • State Bank of Saurashtra has achieved 100% computerization with the implementation of core banking solution in all it’s branches. SBS is also the first Public Sector Bank having all it’s 424 branches enabled under RTGS.
  • With the growing interest of FII’s in domestic equity market, several companies going for public issues are opting for a new insurance cover, which would serve as a safeguard against any legal suit for wrong information in the public offer documents. If a company or its directors provide wrong information in the offer documents, the shareholders can file legal suits. Insurance would cover the legal costs incurred in defending civil and criminal proceedings relating to prospectus liability.
  • Singapore has emerged as the 3rd largest source of FDI to India, during the first 9 months of 2005, with investments from that country skyrocketing during the period. Compared to Rs.263 Crore invested in January – September 2004, Singapore invested nearly Rs.1100 Crore during Jan-Sept. 2005, surpassing in-flows from UK,Japan, Germany and the Netherlands.
  • China’s foreign exchange reserves touched a record of $818.9 billion by the end of 2005, up by 34.3% year on year Basis. With this , China has maintained its 2nd position in the world after Japan for holding maximum foreign exchange.
  • Satyam Computer Services Ltd. has been awarded the ICWAI National Award for Excellence in Cost Management for 2005 under the services category.
  • India is IFC’s 3rd largest exposure globally. IFC makes exposures through its Environment Opportunity Fund.

    Dec 2005
  • Miss World 2005 – Miss Iceland Unnur Birna Vilhjalmsdottir. India’s Sindhura was among the top 15.
  • CEO No.1 in list of India Inc’s most Powerful CEOs in 2005 as per Eco. Times Corporate Dossier – N R Narayana Murthy.
  • Indian business person among world’s top 15 biz leaders as per The Economist : N R Narayan Murthy.
  • Ten year old young author, who wrote a book (Help, Hope and Happiness) on how to handle family break-up – Libby Rees, a British schoolgirl.
  • Most qualified Head of Govt. in the world : Dr. Manmohan Singh
  • ICICI Bank has become number 1 in India in terms of market capitalization subsequent to its $ 1.8 billion public issue. The bank has valued its market capitalization at $ 10 billion.
  • World’s oldest woman – Maria Esther Heredia Lecaro, an Ecqudoran woman – 116 years. Oldest living men -Puerto Rican, Emiliano Mercado Del Toro – 114 years.
  • New CBI Chief – Mr. Vijay Shanker, an 1969 IAS officer from UP cadre.
  • According to the latest FDI Confidence Index prepared by AT Kearney, for the first time, India has emerged stronger on global investment radar in 2005 overtaking USA to become the 2nd most attractive FDI destination in the world after China. On a scale of 0-3, India scored 1.951 and China 2.197.
  • Indian public sector airliner that changed its name – from Indian Airlines to Indian.
  • India was the largest receipient of remittances in the world at $ 21.7 billion in 2004, followed by China and Mexico according to World Bank’s annual Global Economic Prospects report for 2006.
  • 128 companies filed offer documents for equity issues with SEBI till Dec 02, 2005 compared to 34 in in 2004. The total amount exceeded Rs.31000 cr. Of this, 63 companies have already mobilized Rs.18904 cr from the capital market this year.
  • ICICI Bank public issue of Rs.5750 cr has been oversubscribed by 6.5 times. The issue had a price band of Rs.505-545 and final price of Rs.525.
  • Indian company that has moved 5 places in the Platts Top 250 Global Energy Company ranking from 26th place to 21st place : Indian Oil Corporation.
  • Celebrated Indian and US company in IT, that completed 25 years of their establishment: Infosys and Microsoft
  • WTO chief : Mr.Pascal Lamy
  • Britain’s most prestigious art award Turner Prize (25000 pound) winner : Simon Startling for his creation : Shedboatshed.
  • US IT company that is investing $ 1 billion in India : Intel Corporation.
  • India’s top 20 companies’ more than 50% sales/revenue is received from outside the country which include IT and pharma companies.
  • Ist woman to head State Bank of Pakistan : Ms Shamshad Akhtar
  • Golden Peacock Award (Rs.10 lac) winning film at Goa International Film Festival of India – Nov 2005 : Iranian film Iron Island.
  • US economy grew at revised 4.3% annual rate in the 3rd quarter.
  • The 2-years long bull run of stock market in India has increased its market capitalization to GDP ratio from 20% to 62% at the end of Oct 2005. The world's average market-cap is around 98%. At $ 428 billion, it is 3rd in Asia after Hong Kong and Korea. The world market cap stands at $ 39480 billion with India’s share at 1.1% while India’s GDP share is 1.7%.
  • Indian film actor awareded Global Diversity Award for being an intenational symbol for diversity by European Union – Aishwarya Rai
  • Mr. P J Nayak CMD UTI Bank has been chosen the Business Standard Banker of the Year award for 2004-05.
  • Reliance Inds Ltd has been rated above the sovereign by global rating agency Standarad & poor’s by raising RIL’s long term foreign and local currency ratings to BBB-Stable from BB+. Other two Indian companies Tata Steel and Infosys Techonogies also enjoy the same rating.
  • Multinational IT company that proposes to invest $ 1.7 billion in India: Microsoft, USA.
  • Press Note No.9 – It bars a foreign company from borrowing from an Indian bank to buy into a company in India.
  • UTI Bank has been awarded the IFR Asia India Bond House Award for 2005 selected by IFR Asia’s capital market journalism, the awards re the industry standards for capital market excellence.
  • Google founders have been named as the Financial Times Men of the Year.
  • Highest exports from India, during Apr-Sept 2005 period is for: Machinery, followed by basic chemicals and garments.
  • Foreign shareholders hold 1/3rd of equity of IndiaInc. In 164 companies, the foreign holding is above 50%, in 180, it is between 25-50%, in 334, between 10-25% and in 240 companies it is between 5-10%. Overseas investors control 32.35% of S&P Nifty and 32% of BSE Sensex. The companies include HDFC, ICICI Bank, Infosys Technologies
  • Ranking of World Economies
  • Ranking Economy GDP (bn dollars)
  • 1 US 11668
  • 2 Japan 4623
  • 3 Germany 2714
  • 4 UK 2141
  • 5 France 2003
  • 6 China 1932
  • 7 Italy 1672
  • 8 Spain 991
  • 9 Canada 980
  • 10 India 692

    Nov 2005
  • Indian businessman who set world record in sailing hot-air baloon in sky at 69852 ft - Raymond Chairman Vijaypat Singania.
  • Indian company that has been inducted into global most admired knowledge enterprises (Make) Hall of Fame among 22 other global organization including Dell, GE, Hawlett Packard, IBM, Microsoft- Infosys Techonolgies Limited.
  • As per Business Standard Billionaire Club published on Nov 09, 2005, Azim Premji continues to top the list: Net worth of Rs.47456 cr followed by Ambani family.
  • Suraksha Pursakar (Parsansha Patra) received by – National Fertilizers Ltd Bathinda for developing and implementing effective occupational safety and health management systems and procedures.
  • ICANN will continue to oversee the Internet as decided at UN’s World Summit on Information Societies.
  • Country that is the latest member of WTO : Saudi Arabia (149th Country)
  • Recipient of the 7th Ernest & Young Entrepreneur of the year 2005 award : Kumar Mangalam Birla.
  • SMERA has completed assigning credit ratings to 50 SMEs across the country. Following this SIDBI has decided to formally grant interest concessions to the rated enterprises with range of concessions being between 0.25% to 1%.
  • Indian scientist Dr. Modadugu V Gupta has been awarded the prestigious World Food Prize for 2005 in recognition of his work to enhance nutrition for rural poor through expansion of aquaculture and fish farming in Asia and South East Asia.
  • New Chief Justice of India – Y K Sabharwal (in place of Mr. R C Lahoti).
  • The first 5-month old cloned dog, Snuppy is the most amazing invention of 2005, according to Time Magazine.
  • PNB has won the Golden Peacock National Training Award for 2005.
  • US Presidential Medal of Freedom awarded to boxing legend Muhammad Ali.
  • 3 Indian women in Fortune Magazine’s list of 50 most powerful women in international business -Biocon chairperson Kiran Mazumdar Shaw at 44, ICICI Bank ED Chanda Kochhar at 43 and Vidya Chhabria, Jumbo Group chairperson.
  • FDI in fixed line and cellular service companies extended from 49% to 74%. Composite foreign holding including FIIs, NRIs, FCCB, ADRs, GDRs, convertible preference shares, proportionate foreign investment in Indian promoters/investing companies including holding entities will be restricted to 74%.
  • Rising inflation rates in some of European Union’s new countries may delay their adopting the Euro. These 10 countries joined Euro during May 2004 and are legally committed to adopt the Euro.
  • Indian companies have raised $ 6.6 billion in the 1st half of the current financial year (almost previous year’s level). While $ 1.9 billion has been raised through FCCB, the balance $ 4.7 billion has been raised through ECBs.
  • 7 Indian projects registered with UN panel on climate change. Registration is formal acceptance of the project as a clean development mechanism activity.
  • Standard & Poor’s Rating Services raised the foreign currency rating of Infosys Technologies (from BBB-stable to BBB stable) and Tata Steel Limited (from BB+ stable to BBB Stable) to level higher than India’s sovereign rating (which is BB+ Stable).
  • Central Govt. has managed to bring down the fiscal deficit marginally to Rs.83843 cr during the first 6 months of the current fiscal (2.38% of GDP) which is 55.5% of the annual target of Rs.151144 cr (compared to Rs.53235 cr during the previous year). The revenue deficit during this period has been of the order of Rs.65097 cr, 1.8% of GDP (Rs.59951cr during the previous year).
  • Govt. proposes to approach Supreme Court for ruling on fringe benefit tax regarding its constitutional validity which has been challenged by taxpayers in various high courts. FBT collection in two instalments has been of the order of Rs.1450 cr.
  • Noted Punjabi poet and novelist who died at 86 – Amrita Pritam
  • National capital city that has been awarded (by European Space Agency), the title of air pollution capital of the world title - Beijing
  • Outstanding loan amount on home loan accounts as on Mar 31, 2004 – Rs.85346 cr.
  • SBI Life Insurance Ltd has launched an investment cum protection life insurance policy (Dhana Vriddhi) offering guaranteed addition of 5.75% on sum insured .
  • Chairman of Federal Reserve of US – Mr. Ben Bernanke (in place of Mr. Greenspan) wef Feb 01, 2006.
  • Dr. C Rangarajan shall head a 5-member inter-ministerial committee to formulate a long term policy on pricing and taxation of petroleum products.
  • In its International Trade Statistics, as per WTO, the world merchandise exports are likely to grow by 6.5% in the year 2005, compared to 9% during 2004. During 2000-2004, it increased by 9%. In nominal terms the world merchandise export increased by 21% to $ 8.9 trillion.
  • Country whose Supreme Court has stripped the provincial courts of the power to put the final stamp on death sentence – China

    Oct 2005 (as per Banking Events Update for Nov 2005)

  • Nobel Prizes 2005
  • Literature – British playwright Harold Pinter.
  • Economics -Israel’s Robert Aumann and American Thomas Schelling.
  • Physics 2005 – John Hall and Roy Galuber of US and Theodor Haensch of Germany.
  • Chemistry : France’s Yves Chauvin and Americans Robert H Grubbs and Richard R Schrock.
  • Medicine: Australians Barry J Marshal and J Robin Warren.
  • International Year of Microcredit announced by UNO – 2005.
  • Since 1901, in terms of earthquake, Asia saw 447 earthquakes while Europe and America witnessed 229 and 215, respectively. In Asia, on average, an earth quake affected 5.2 cr people while in Europe 17.33 lac and US 2.08 cr persons.
  • Country that launched 2nd manned space mission : China (Shenzhou VI capsule)
  • State of World Population Report of United Nations states that more than 50% of nearly six billion inhabitants on earth are under 25 years and developing world has the advantage of young, earning population.
  • Booker Prize 2005 (Pounds 50000) winner : Irish writer John Banville (for The Sea, a novel about childhood memories)
  • Company that has introduced a Rs.1 cr watch in India – Swatch Group (Breguet brand).
  • No. of Indian states that have achieved 100% rural electrification : 8. Out of 560000 villages in India, 150000 are yet to be electrified.
  • Dissolution of the State Assembly on May 23, that has been declared unlawful by Supreme Court : Bihar
  • Wisden Asia, the cricket magazine would be relaunched as Cricinfo.
  • Tax info exchange system (TINXSYS) trial run has started from Oct 05, 2005. The system is being implemented to primarily facilitate information exchange between the sales tax/VAT departments across the country. It would also help established a data base for all inter-state transaction.
  • Tax revenue of 21 VAT implementing States and UTs have cumulatively recorded nearly 16% increase in the first 5 months of the current fiscal. It increased from Rs.25824 cr to Rs.29878 cr.
  • India’s single largest investment abroad (by ONGC Videsh Limited) in oil filed that started oil and gas production – Sakhalin-I fields in far-east Russia.
  • Commemorative postage stamp released recently on the man who started some thriving companies of Murugappa group : Murugappa Chettiar.
  • Indian tennis player on the cover of Times Magazine : Sania Mirza (the first Indian sportswoman). Sania shares the space with Chinese actress Zhang Jingchu, South Korean footballer Park Ji Sung and Japan’s Ken Watanbe.
  • Prime Minister released a commemorative coins to mark the 75th anniversary of the Dandi March.
  • New CBDT chairman – Mr. M S Darda.
  • India’s FDI have increased to $ 9.57 billion as on March 31, 2005, compared to $ 7.08 billion in the previous year.
  • CCEA enhanced the monthly wage limit for the workers of closed textile mills to Rs.3500 from the existing Rs.2500, effective from April 01, 1993.
  • Wholesale price index currently used to measure changes in the average price level at the wholesale and retail transactions in India would be replaced by Producer Price Index by next fiscal. WPI would not be dismantled altogether.
  • According to UNCTAD World Investment Report, ONGC is the Indian company to figure among the top 50 transnational non-finance companies from developing countries, ranked by the size of foreign assets. There are three companies in the list from China.
  • Indian entry at Oscars this year : Paheli
  • India has joined the list of top 10 countries considered places of origin for internet based attacks on telecommunication industry.
  • WilliamBill Gates heads the 10 most rich people in the world with net worth of $ 51 billion, followed by Warren Bufffet ( 40 billion) and Paul Allen (22.5 billion).
  • SAIL’s Bhillai Steel Plant has been adjudged the best performing steel plant in the country for 2003-04. The award carries Prime Minister’s Trophy and cash component of Rs.1 cr.
  • 184 member countries of World Bank and IMF have agreed on debt relief for the world’s poorest nations (18 African countries).
  • G-20 countries (established in 1999 and includes major industrialized nations and emerging market countries, accounting for 90 of world GDP, 80% of the world trade and 2/3 of world population) ministerial meeting on various developmental issues held in Beijing on Oct 15 and 16, 2005.
  • World bank President : Mr. Paul Wolfowitz. IMF Managing Director – Mr. Rodrigo Rato
  • As per UNCTAD report, in 2004, India attracted FDI of $ 5 billion. As regards the ranking in attracting FDI, India ranking improved from 80 in 1990 to 54 in 2004, covering 132 economies.
  • India’s external debt declined by $ 1.3 billion during Mar 31 and Jun 30, 2005 at $ 122.1 billion.
  • As per Transparency International, world’s most authoritative anti-corruption watchdog after surveying 159 countries has placed India at 88 of the most corrupt places on the earth. Iceland is the cleanest countries followed Finland and New Zealand and Switzerland.
  • ICICI Bank posted a net profit of Rs.580 cr (31% growth) during the quarter ended Sep 2005. The capital adequacy of the bank was 11.5%.
  • During 2004-05, Agricultural Insurance Company Limited insured 1.80 cr farmers for Rs.18000 cr under National Crop Insurance Scheme.

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