Current Affairs: November 29, 2011

Presidency University declared CIC

  • Centre declared the prestigious Presidency University the first Cluster Innovation Centre in eastern India. The National Innovation Council
    has envisaged Cluster Innovation Centres (CIC) as focal points to promote innovation in and around the university system. These innovation centres are expected to function as independent bodies inside the university and facilitate collaborations between various stakeholders to create new knowledge, products, and processes.

Puri-New Delhi superfast to be named as Nandan Kanan Express

  • The Railways Ministry has decided to name the 12815/12816 Puri-New Delhi-Puri Super Fast Express as Nandan Kanan express with effect from December 1. The decision to rename the train was taken on the demands of the passengers.

Punjab CM dedicates ‘Wadda Ghallughara’ memorial to nation

  • Punjab Chief Minister Parkash Singh Badal announced to set up a world class memorial in Doaba region at a cost of Rs 300-400 crore to showcase the rich legacy of numerous freedom fighters, patriots and martyrs of Punjab, who made significant contribution in the Indian freedom struggle. He dedicated the prestigious “Wadda Ghallughara” Martyrs Memorial to the humanity to pay a befitting tribute to the 30,000 Sikhs who attained martyrdom in a fierce battle with the Army of over a lakh soldiers led by
    Ahmed Shah Abdali in Kup Rohira on February 5, 1762. Mr Badal lauded the role of Punjabis for making more than 80% in the national freedom struggle despite the fact they merely constituted 2.5% of country’s population.

India has one doctor for 2,000 people

  • With around six lakh practicing doctors, India has one doctor for every 2000 people, government informed the parliament. As per Medical Council of India (MCI) altogether 8,56,065 allopathic doctors were registered as on July 31 and out of it around six lakhs are active practitioners. This translates to 1:2000 doctor-population ratio.

Government downplays scaling down of Indian banks by Moody’s

  • Albeit Global investors service Moody’s downgrading the Indian banking system to –ve from stable on the heels of concerns of high inflation, money tightening and rapidly rising interest rates but Government assured that the investors need not worry in the long run. Government held that there should be no cause for concern because of this development as almost all banks were having over 9% Tier-I capital and 11% of total capital as compared to the RBI requirement of 6% and Basel II requirement of 4% for Tier-I capital. Over and above the Basel II requirement, the Indian banks were providing counter cyclical buffer up to 70% of risk weighted assets. The non-performing assets (NPAs) of Indian banks were in the range of 3 to 3.5% and the net NPAs including the assets which have gone for recovery were less than 1%. There had been no significant change in the last two quarters indicating that the banking sector in the country was in a sound financial health and the Moody’s ratings would not have long lasting effect on the banking sector. Govt deemed that it was well aware of the challenges and was taking all steps along with the Banking Sector to counter challenges that were coming basically from outside India.

Major global IT ATOS to ban e-mail

  • Atos, one of biggest information technology companies in the world with over 80,000 workers in 42 countries, will soon ban e-mails because it opined that 90% of them are a waste of time.


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