13 June 2016

IEP released the 2016 Global Peace Index, India ranks 141

  •  Institute for Economics and Peace (IEP) released the 2016 Global Peace Index (GPI). It is 10th edition of GPI that measured peace, its causes and its economic value during 2015 for 163 countries.

  • India ranked 141 among the 163 countries with 2.566 GPI score.
  •  It showed an improvement in peace building as it held 143th rank in 2014 and 2015

Azad appointed general secretary in-charge of UP

Congress veterans Ghulam Nabi Azad and Kamal Nath were appointed general secretaries in-charge of Uttar Pradesh and Punjab, a move seen as precursor to a major organisational shake-up in the party ahead of the assembly polls in the two states next year.

Priyanka Chopra nominated for Choice TV Breakout Star in 2016 Teen Choice Awards

   India's bollywood actress Priyanka Chopra was nominated for 2016 Teen Choice Awards. She got her final nomination in the category of Choice TV Breakout Star.

·        She was nominated for her role as FBI trainee Alex Parrish in American TV series, Quantico.

·        Earlier, she also won the Favourite Actress title in a New TV series award at the People’s Choice Awards for her debut role on an American TV show.

Tata Power acquires Welspun’s renewable energy assets

·        Tata Power Company has announced that Tata Power Renewable Energy Ltd (TPREL), a fully owned subsidiary of Tata Power, has acquired 1,140 MW solar and wind power assets of Welspun Energy Pvt Ltd.

·        Notably, India has a target of installing 60 GW of wind and 100 GW of solar power capacity by 2022.

Indian-American Author Akhil Sharma wins 2016 International Dublin Literary Award

Indian American author Akhil Sharma won the prestigious 2016 International Dublin Literary Award for his semi-autobiographical novel “Family Life.” His novel was shortlisted out of an initial 160 nominations by a panel of judges of award that included novelists Ian Sansom, Juan Pablo Villalobos and Carlo Gebler. Family Life is Sharma’s second novel and took him 13 years to write. The novel traces the journey of a family that emigrates from New Delhi to New York, where one brother is left severely brain-damaged after a tragedy strikes.

 About Akhil Sharma 
  • Sharma was born in New Delhi. Later he had immigrated to US along with his family in 1979. 
  • His first novel was An Obedient Father published in 2000. It has won the prestigious PEN/Hemingway Foundation Award in 2001.
  •  His stories also have been published in The New Yorker and in Atlantic Monthly. These stories have been included in The Best American Short Stories and also in O. Henry Prize Collections.
  •  Awards and honours: In 2007, he was named as one of Granta magazine’s Best of Young American Novelists. His second novel Family Life had won the prestigious 2015 Folio Prize.

Saina Nehwal wins 2016 Australian Open Super Series Badminton title

Ace Indian shuttler Saina Nehwal has won the 2016 Australian Open Super Series Badminton tournament title in women’s singles category. 

In the final match played at Sydney, Saina defeated Chinese Sun Yu by 11-21, 21-14, 21-19 score. It was Saina’s first title of year 2016 season and overall second Australian Open title of her career. She won her first Australian Open title in 2014.

 On the other hand, Hans-Kristian Vittinghus from Denmark won the Australian Open Badminton Super series title in the men’s singles category. In the final match, Vittinghus defeated Jeon Hyeok-Jin from South Korea. It is Hans-Kristian Vittinghus’ first Australian Open Badminton Super series title. 

Norway becomes the first country to ban deforestation

Norway has become the first country in the world to prohibit deforestation. In this regard, Norwegian Parliament had pledged to make government’s public procurement policy deforestation-free. The step was taken by Norwegian Government based on official recommendations of Norwegian Parliament’s Standing Committee on Energy and Environment as part of the Action Plan on Nature Diversity.

 Key facts
  •  Henceforth, Norway will no longer procure use or procure products that encourage deforestation. 
  • Under the pledge, Norwegian Government will also not award contracts to any company that cuts down and destroys forests. 
  • In addition, Norwegian lawmakers also committed to find a way to source essential products such as soy, palm oil, beef and timber that have little or no impact on ecosystems. 
  • The standing committee also has asked Government to frame separate biodiversity policy and use funds provided by Government Pension Fund Global to increase biodiversity protection.

SEBI issues stricter KYC, disclosure norms for P-Notes

The markets regulator SEBI (Securities and Exchange Board of India) has put in place a stricter KYC (Know Your Customer) norms and disclosure regime for Participatory Notes (P-Notes). P-Notes are offshore/overseas derivative instruments (ODIs) issued by registered foreign institutional investors (FII) to overseas investors. They provide easier and cost-effective route to foreign investors to invest in Indian markets without directly registering as Foreign Portfolio Investors (FPIs).

 Key facts 
  • The aim of SEBI’s stricter KYC, disclosure norms is to make it tougher to use these offshore instruments that do not disclose the money-trail and details of their users.
  •  Under the new norms, all the users of P-Notes would have to follow Indian KYC and Anti Money Laundering (ALM) Regulations, irrespective of their jurisdictions. 
  • Henceforth, P-Note issuers will be required to file suspicious transaction reports with the Indian Financial Intelligence Unit. 
  • ODI holders have to report monthly reports on ODIs all the intermediate transfers during the month. 
  • Besides, ODI issuers have to carry out reconfirmation of the ODI positions on a semi-annual basis.