16 March 2013 Current Affairs Updates

Published for http://www.jobentra.blogspot.com

1.   Justice Sudarshan Reddy first Lokayukta of Goa

i. Former Judge of the Supreme Court of India Justice B.Sudarshan Reddy is the first Lokayukta of Goa. 

ii. He was sworn today with Governor Bharat Vir Wanchoo administering the oath of office and secrecy to him at Raj Bhavan at Dona Paula near Panaji. You are reading current affairs on jobentra.blogspot.com

iii. He said the office of Lokayukta will start functioning within a few weeks after all the requirements are in place.

      iv. B. Sudershan Reddy retired in July 2011 as Supreme Court judge

2.    India Ranked Low on Gender Inequality Index: UN Human Development Report 2013

i. The UN Human Development Report 2013 was released on 14 March 2013, according to which India has poor Gender Inequality Index, apart from the overall poor Human Development Index (HDI). 

ii. Apart from Afghanistan that got a rank of 147 in comparison to 132 of India, all the countries in the region of South Asia were ranked higher on Gender Inequality Index.

iii. This Gender Inequality Index measures the inequality in terms of achievements between males and females in three main aspects namely, labour market, reproductive health and empowerment.

What is Human Development Index (HDI)?

i. The Human Development Index (HDI) is a combined index which measures the average achievements of the countries in three main human development dimensions. These dimensions are decent standard of living, knowledge and long and healthy life. 

ii. In the 2013 Human Development Index (HDI) report, analysis of the 40 developing countries in South Asia was done. 

3.    China's parliament approved appointments to two key posts

i. China's parliament today approved appointments to two key posts. 

ii. Wang Yi, China's former ambassador to Japan is the new foreign minister. 

iii. Chang Wanquan, who has been involved with China's space programme was approved as the new defence minister.

iv. The appointment of Wang comes at a crucial time in the relationship between China and Japan, as the two countries negotiate over ownership of a group of uninhabited islets in the East China Sea. 

4.    India Fifth On the List of High Net worth Individuals

i. India ranked fifth in the world in terms of number of High Net worth Individuals (HNIs), according to the Knight Frank Wealth Report 2013.

ii. High Net worth Individuals are the ones with the net assets of 150 crore Rupees to 160 crore Rupees.

iii.. The Knight Frank Wealth Report 2013 revealed that despite the economic concerns, by 2022, there would be an increase of billionaires in Mumbai by 137 percent and approximately 120 percent in Delhi. 

iv.. In the report, Mumbai was ranked at 7th position with 2105 HNIs in top 30 global cities.

v. In the same list, Delhi was ranked at 11th position with 1945 HNIs.

vi. In the report, the country that topped in the category of top 10 countries for billionaires was US with 543 billionaires. The city which ranked first in the list of top 30 global cities was New York, followed by London. 

About Knight Frank Wealth Report

The Knight Frank Wealth Report provides an insight into the perspective of wealth and property on the global level. The report gives a peep into the HNWI growth forecasts of the world. The report is produced based on the survey conducted in more than 80 countries as well as cities.

5.    Kallam Anji Reddy, Dr Reddy's Laboratories Founder Died At 72

i. Kallam Anji Reddy, the main behind Dr Reddy's Laboratories Ltd (DRL), the second-largest drugmaker of India died on 15 March 2013 at Hyderabad’s Apollo Hospital.

ii. Anji Reddy was the founder and chairman of DRL. He was aged 72 years. He died because of liver cancer. He is survived by his wife, daughter and son. 

About Kallam Anji Reddy

i. He served as the member on Prime Minister's Council on Trade & Industry. 

ii. Anji Reddy was honoured with Padma Bhushan, the highest Civilian Award in India, in April 2011. 

About Dr Reddy's Laboratories Ltd (DRL). You are reading current affairs on jobentra.blogspot.com

i. Dr Reddy's Laboratories is the second-largest pharmaceutical company of India, in terms of market capitalization with 31000 crore Rupees. 

ii. It was also the first pharmaceutical company of India that was listed on the New York Stock Exchange in 2001.

6.    Bobby Ghosh became First non-American Editor of Time International

i. Bobby Ghosh, the eminent Indian Journalist was appointed as the editor of Time International on 16 March 2013.

ii. He is the first non-American World Editor in the history of the Times. 

7.    Eurozone and IMF Agreed For 10 Billion Euros Cyprus Bailout Deal

i. The Eurozone finance ministers and the International Monetary Fund signed a deal on 16 March 2013 in Brussels to aid Cyprus with a bailout worth 10 billion Euros.

ii. It is important to note that Cyprus is the fifth country to go to Eurozone for the financial aid because of sovereign debt crisis that kicked off in 2010. 

iii. The Eurozone Central Bank and the International Monetary Fund agreed on the terms which included one-time tax of 9.9 percent on Cypriot bank deposits of over 130000 Dollars or 100000 Euros as well as the tax of 6.75 percent on smaller deposits. 

Main points of the deal”

i. Under the deal, Cyprus agreed for increasing the nominal corporate tax rate to 12.5 percent, thus increasing it by 2.5 percent. 

ii. An imposition of 9.9 percent one-time tax on the bank deposits above 100000 Euros in the banks will be done apart from the 6.75 percent tax on the smaller deposits.  iii. The tax on interest which will be generated by the deposits will also be levied. 

NOTE: Originally, Cyprus had estimated its requirement for 17 billion Euros, which was the amount that it required for restoration of its economy. Of this, 10 billion Euros was required for recapitalizing the banks while 7 billion Euros was required for the servicing debt as well as the operations of the government.

8.    Indian boxers settle for bronze at Asian Youth Championship

i. Four Indian pugilists had to be contended with bronze medals after suffering defeats in the penultimate round of the ASBC Asian Confederation Youth Boxing Championship in Subic Bay, Philippines.

ii. Narender Berwal (+91kg), Lalitha Prasad (49kg), Abhishek Beniwal (81kg) and Amritpreet Singh (91kg) ended their campaign at the semi-final stage after losing out to their respective opponents.

iii. The Indian pugilists did well to qualify for the round of four, and in the semi-finals as well they put up a stunning challenge making things difficult for their opponents.

9.    India 283 for no loss at stumps on Day 3

i. India were 283 for no loss in their first innings, while replying to Australia's 408, at stumps on the third day of the third cricket Test in Mohali on Saturday.

ii. Shikhar Dhawan (185) and Murali Vijay (83) will resume India's innings on Sunday.

Brief Scores

Australia 1st innings: 408 all out in 141.5 overs (Ed Cowan 86, David Warner 71, Steven Smith 92, Mitchell Starc 99; Ishant Sharma 3/72, Ravindra Jadeja 3/77, R Ashwin 2/97, Pragyan Ojha 2/98).