_________________________________________________________________________________ CURRENT AFFAIRS UPDATE

(September)

MAJOR NEWS
Section A: INDIA Tata Nano car worth Rs. 22 crore! Mansur Ali Khan Pataudi passes away Fine of Rs. 50 crore faced by Airtel Defunct NASA satellite may crash over Indian Ocean Kalanithi aide & Sun TV Network COO, Hansraj Saxena resigns Essar group GM DVCS Varma held for 'bribing' Maoists Vivek Venkatachalam to head GE's Converteam business in India Neelima Mishra fails to get US visa Chairman & MD of Rajiv Petrochemicals, Rajiv Vastupal elected President of AIMA Boeing P-8I aircraft for Indian Navy completes first flight

Section B: WORLD Australia announces new visa rules to attract foreign students Meg Whitman named HP chief China may overtake US as world's biggest CO2 emitter by 2017

Section C: ECONOMY & CORPORATE Carmakers against extra tax on diesel vehicles Wadia group sells spring unit for Rs. 181 crore Reliance Industries treads cautiously in response to CAG's report on KG D6 SUV Koleos at Rs. 23 lakh launched by Rrenault Microsoft unveils Windows 8 BSNL loss triples to Rs. 6,000 crore BMW to launch Mini in India Dabur to enter Sri Lanka, invest $15 mn in beverage plant

Section D: AWARD CSIR conferred the Shanti Swarup Bhatnagar Prize for Science and Technology on 11 Scientists

Section A: INDIA

News round up
Tata Nano car worth Rs. 22 crore!
Tata Group chairman Ratan Tata unveiled a Nano car made with gold and silver and studded with precious stones worth over Rs. 22 crore. This car is not for sale. The high cost car is fully functional and is a branding promotional initiative by Goldplus Jewellery part of Titan Industries. The Goldplus Nano car is billed as the world's first ever gold jewellery car and celebrates the 5,000 years of jewellery making industry in India.

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The car's body is built with 80 kg 22 carat solid gold, 15 kg silver, precious stones - including diamonds, rubies and other expensive gemstones. After its glittering launch in Mumbai, the Goldplus Nano car will travel to all the Goldplus showrooms around the country.

Mansur Ali Khan Pataudi passes away

Mansur Ali Khan Pataudi, one of the greatest cricket captains India has produced, died after battling with a lung infection, diagnosed about three months back. Pataudi was admitted to the hospital last month. He was suffering from interstitial lung disease, a condition in which the passage of oxygen to the two lungs is less than normal. He was unable to maintain his oxygen level in spite of maximal treatment. He was in the ICU for nearly a month. He had this disease, which had been static since the last three months and worsened very acutely over the last four weeks. The possibility of lung transplant was discussed very early as soon as his condition worsened but he was not a suitable candidate for it.

Fine of Rs. 50 crore faced by Airtel

The telecom department is likely to haul up Bharti Airtel for allegedly camouflaging its calling-line identification (CLI) mechanism while making promotional business calls to non-Airtel customers. The department plans to slap a penalty of Rs. 50-crore on the company for tinkering with the CLI mechanism tantamouts to a breach of licence conditions. The department has received complaints about Bharti Airtel camouflaging its CLI mechanism in Madhya Pradesh circle for making business promotion calls to non-Airtel mobile customers. Investigations are underway to detect similar violations in other circles. Under Clause 41.19 (iv) of universal service access licence norms. A mobile operator cannot tamper with its CLI mechanism since this is required for security purposes and any violation amounts to a security breach.

Defunct NASA satellite may crash over Indian Ocean

According to data obtained by Russian experts, the satellite may fall in the Indian Ocean, north of the Crozet Islands, It is too early to say exactly when UARS will re-enter and what geographic area may be affected, but NASA is watching the satellite closely. According to media reports, the $750-million satellite is expected to break into 26 large pieces before reaching the ground. The debris is likely to be scattered over an area of 800 kilometres.

Kalanithi aide & Sun TV Network COO, Hansraj Saxena resigns

Kalanithi Maran's close aide and Sun TV Network COO Hansraj Saxena resigned being out on conditional bail. Saxena was the COO, in charge of the company's pictures division, which last year created history by producing India's costliest movie Endhiran. Saxena felt there should not be any embarrassment for the company due to the lawsuits he is facing. So he spoke to Sun TV CMD Kalanithi Maran and has decided to step down Saxena was arrested on 3rd July and spent more than two months in custody. On 14th September, Saxena was released on conditional bail. To fill Saxena's long absence, Sun TV had appointed C Sembian Sivakumar, an old-timer in Maran's empire.

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Essar group GM DVCS Varma held for 'bribing' Maoists
The Chattisgarh police on Tuesday arrested a general manager of Essar group on charges of paying protection money to Maoists. DVCS Varma, the general manager of Essar Steel Limited, was arrested from Kirandul, where the company operates an iron ore beneficiation plant. The police has arrested him under sections 121 and 124 (A) of the Indian Penal Code that amount to waging war against the state and sedition. In a statement, a spokesperson of Essar strongly refuted the allegations, stating, "such baseless allegations are being made to hurt the image and reputation of the group, which is a law abiding corporate." Dantewada police superintendent Ankit Garg told reporters that he was sending a team to Chitrakonda, in neighbouring Orissa's Malkangiri district, to arrest the company's deputy manager C Srinivas. A few weeks ago, WikiLeaks had posted a diplomatic cable dated January 11, 2010 which claimed that "a senior representative from Essar, a major industrial company with large mining and steel-related facilities in Chhattisgarh, told Congenoff (Consul General Office) that the company pays the Maoists significant amounts not to harm or interfere with their operations."

Vivek Venkatachalam to head GE's Converteam business in India

GE Energy has appointed Vivek Venkatachalam as president and chief executive officer for Converteam business operations in India. GE Energy acquired the worldwide operations of Converteam, a provider of power conversion and automation systems. "Venkatachalam, currently head of GE Oil & Gas, India, in his new role will oversee the development and execution of commercial, marketing, engineering and services strategy for Converteam in India.

Neelima Mishra fails to get US visa

Magsaysay award winner Neelima Mishra was denied a visa. Mishra had applied for a visa last month as she was invited to address the 9th conference of the Indian Development Coalition of America. In her interview she was asked why she wanted to visit the US. She mentioned the conference as well as the fact that she had won the Magsaysay award this year. Those interviewing her said they did not know what the Magsaysay award was. Mishra got a call from the consulate in the evening, asking her to visit the office with her rejection letter on Monday.

Chairman & MD of Rajiv Petrochemicals, Rajiv Vastupal elected President of AIMA

Rajiv Petrochemicals' chairman & managing director Rajiv Vastupal was elected president of the All-India Management Association (AIMA). He succeeded Gautam Thapar. Vastupal, was previously AIMAs senior vice-president. Rajiv is the founder member & Chapter Chair of Young President Association (YPO) for Gujarat Chapter with record break membership of 38 members in the world history. Nokia India managing director D. Shivakumar took over as AIMA's new senior vice-president. Apollo Hospitals managing director Preetha Reddy was selected as the new vice-president, while P. Dwarkanath is the treasurer. AIMA was founded in 1957. K. S. Sreenivasan appointed non-official director on board of Oriental Bank of Commerce K. S. Sreenivasan appointed as part-time, non-official director on the board of Oriental Bank of Commerce. Sreenivasan is appointed for a period of three years.

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Boeing P-8I aircraft for Indian Navy completes first flight
Boeing's first long-range maritime reconnaissance and anti-submarine warfare aircraft P-8I for the Indian Navy completed its initial flight at the Boeing Field in Seattle. The test pilots performed airborne systems checks and took the P-8I to a maximum altitude of 41,000 feet prior to landing. The flight lasted two hours and thirty minutes. Boeing will soon begin mission systems installation and checkout work on the aircraft at a company facility near Boeing Field. Leland Wight, Boeing P-8I programme manager, said, "We have transitioned to P-8I production, and remain on track to deliver the first aircraft to the Indian Navy in 2013," said Leland Wight, Boeing P-8I programme manager.

SECTION B: WORLD News round up

Australia announces new visa rules to attract foreign students
The government announced that it will streamline visa processing for students enrolling in Australian universities, according to AAP report. The changes follow a review of the student visa programme led by former New South Wales government minister Michael Knight. The Knight report released made 41 recommendations, which have been accepted by the government. Under the new rules, the financial requirements for student visas will be eased and applicants will need about 36,000 dollars less in their bank account than they do now. However, the student visa criteria will be tightened slightly so applicants will have to prove they are genuine students and genuine about returning home. Tertiary education minister Chris Evans said the changes would help Australian universities be more competitive in the international market.

Meg Whitman named HP chief

Former eBay Chief Executive Meg Whitman is the new CEO of HP, replacing Leo Apotheker. The company's strategy to transform its business was sound, but that it needed new leadership to carry out the plans. The upheaval at HP came after several weeks of mounting concerns among board members, senior executives and investors. While the board still endorses the strategy change, which includes a possible spin off of its personal computer business, the closing of a line of mobile devices and the $11.7 billion acquisition of the software maker Autonomy, its members felt that Mr. Apotheker had bungled communicating the plans to HP employees and outsiders.

China may overtake US as world's biggest CO2 emitter by 2017

According to a report based on recent results from the Emissions Database for Global Atmospheric Research (EDGAR) and latest statistics for energy use and other activities, China's carbon emissions for each member of its population could overtake that of Britain by the end of next year. China already emits more carbon per person than France and Spain and on current trends it is likely to surpass the United States in per person emissions by 2017.

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If the current trends in emissions by China and the industrialised countries including the US would continue for another seven years, China will overtake the US by 2017 as highest per capita emitter among the 25 largest emitting countries.

Section C: ECONOMY & CORPORATE

News round up
Carmakers against extra tax on diesel vehicles
Carmakers are opposed to any move by the government to hike tax on diesel cars. "A measure like this would effectively kill diesel automobiles. Diesel vehicles are dearer than petrol due to their expensive technology. This (higher tax) more or less offsets the gain a diesel vehicle owner makes by buying fuel at a lower price. Differences within the government over pricing of diesel came to the fore with Montek Singh Ahluwalia, deputy chairman of the Planning Commission, favouring decontrolling of the fuel, while heavy industries minister Praful Patel advocating subsidies to continue to meet the government's "social obligation". Patel rejected the possibility of diesel being freed from government control in the near-term, saying, "At this moment, there is no move in the government to bring any change in the pricing." While the government had in June last year freed petrol prices, diesel continues to be sold at a subsidised rate.

Wadia group sells spring unit for Rs. 181 crore

The Wadia Group has sold its to Japanese technology partner NHK Spring buys Wadia groups spring division BCL Springs for 180.50 crore. BCL Springs, a division of Bombay Burmah Trading, the oldest company in Wadia Group is India's second largest spring manufacturer and supplier to some of the top carmakers. "This transaction is part of our plan to reduce exposure on non-core areas and to reduce debt," said Bombay Burmah Managing Director Ashok Panjwani. In August, Bombay Burmah sold its laminates unit and investments in a rubber business for 170 crore. It sold its sunmica division to Japan's AICA Kogyo for 100 crore and also sold 50% in PT Indo Java Rubber Planting for 70 crore.

Reliance Industries treads cautiously in response to CAG's report on KG D6

Reliance Industries faced an extremely uncertain outlook after a draft CAG report, which was leaked to the media, sternly criticised oil ministry's alleged favours to the company. The final report was mild on Reliance and focused on government procedures and systems. It criticised the government for allowing the company to retain the entire block after the first phase of exploration. ONGC former chairman, R.S. Sharma sharply criticised CAG's draft report. (between draft CAG report and the final report), they (CAG) have done huge damage to India's E&P reputation.

SUV Koleos at Rs. 23 lakh launched by Rrenault

To achieve its aim to sell one lakh vehicles in India by 2013, Renault launched its premium sports utility vehicle Koleos for Rs. 22.99 lakh (ex-showroom Delhi). The 'Koleos' is powered by a 2.0 litre diesel engine and is available in four-wheel drive option with six speed automatic transmission. Koleos was first launched in the Chinese market and India is the second. The company will launch of five vehicles in India by the end of 2012. All the cars will be assembled at Renault's Indian facility in Chennai.

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Microsoft unveils Windows 8
At its annual developer conference Microsoft Corp handed out 5,000 sleek Samsung tablet computers running a test version of Windows 8, hoping to stoke excitement over its new operating system. The devices powered by Intel Corp i5 chips, are the first chance for people outside Microsoft to play with Windows 8. Tablet makers are expected to start selling products with Windows 8 by the middle of next year at the earliest.

BSNL loss triples to Rs. 6,000 crore

Bharat Sanchar Nigam Ltd. (BSNL) has reported a loss of around Rs. 6,000 crore in 2010-11, which is three times compared to Rs. 1,822 crore reported in 2009-10, while its total revenues also declined to Rs. 28,876 crore, a dip of around 10 percent from Rs. 32,072 crore. According to unaudited results of BSNL, the loss for 2010-11 stood at Rs. 5,997 crore, mainly due to hefty outgo on employees' salary and expenses borne by the government-owned telecom firm for procuring 3G and BWA spectrum. BSNL paid Rs. 18,500 crore for getting 3G and BWA licenses. Notably, BSNL had reported the highest net profit of over Rs. 10,000 crore in 2005-06.

BMW to launch Mini in India

Luxury carmaker BMW is set to launch the British marque Mini in India at a starting price of Rs. 25 lakh. The German carmaker will start importing the iconic small car within the next two months and open two flagship dealerships, in Delhi and Mumbai. BMW will bring in the entire range of the Mini - comprising its popular variants Cooper, Countryman, Clubdoor and the Cabrio. The top-end Clubman is likely to cost around Rs. 30 lakh and comes with a complete sports package and accessories. The Mini is among the original British cars that heralded a new era in motoring in the 1960s, with its spacesaving front wheel-drive layout. Its smooth and sporty retro design has influenced a generation of carmakers ever since. The original Mini continues to sell in large numbers, clocking more than 2.34 lakh units a year worldwide. The Mini will drive into a market where luxury small cars, such as the Volkswagen Beetle and the Fiat 500, have not found too many takers. While Volkswagen managed to sell just 620 Beetles since its launch in December 2009, Fiat has sold just 100 units. Mini perfectly fits into the definition and India is now a mature market for premium luxury small cars," BMW India president said.

Dabur to enter Sri Lanka, invest $15 mn in beverage plant

Consumer products maker Dabur India Ltd plans to invest $15 million in Sri Lanka to set up a new exportoriented manufacturing facility for producing fruit-based beverages. The company has signed an agreement with the Board of Investment of Sri Lanka for this venture. The new facility will have a monthly capacity of 280,000 cases of fruit beverages and will be commissioned in Aug-Sept 2012.

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SECTION D: AWARD

News round up
CSIR conferred the Shanti Swarup Bhatnagar Prize for Science and Technology on 11 Scientists
The Council of Scientific and Industrial Research (CSIR) honoured 11 scientists with the Shanti Swarup Bhatnagar Prize for Science and Technology for the year 2011. Dr. Samir K Brahamachari, Director General, Council of Scientific Research and Industrial development announced the names of scientists at the celebration of CSIR foundation Day. Till 2010, 463 scientists (including 14 women scientists) have been bestowed with the prestigious SSB Prize. The list of the awardees in the different categories is as follows: Biological Sciences Dr. Amit Prakash Sharma (International Centre for Genetic Engineering and Biotechnology, New Delhi) Dr. Rajan Sankaranarayanan (CSIR Centre for Cellular & Molecular Biology, Hyderabad). Chemical Sciences Dr. Balasubramanian Sundaram (Jawaharlal Nehru Centre for Advanced Scientific Research, Bangalore) Dr. Garikapati Narahari Sastry (CSIR Indian Institute of Chemical Technology, Hyderabad). Earth, Atmosapere, Ocean & Planetary Sciences Dr Shanker Doraiswamy (CSIR National Institute of Oceanography, Goa) Engineering Sciences Dr. Sirshendu De (Indian Institute of Technology, Dharagpur) Dr. Upadrasta Ramamurty (Indian Institute of Science, Bangalore) Mahtematical Sciences Dr. Mahan Mj (Ramakrishna Mission Vivekananda University, Howrah) Dr. Palash Sarkar (Indian Statistical Institute, Kolkata) Medical Sciences Dr. Kithiganahalli Narayanaswamy Balaji (Indian Institute of Science, Bangalore) Physical Sciences Dr. Shiraz Minwalla (Tata Institute of Fundamental Research, Mumbai) The Shanti Swarup Bhatnagar Prize for Science and Technology was first given in 1958. It is regarded as the country's highest award in science, named after the founder director of CSIR, Shanti Swarup Bhatnagar. It is given scientists up to 45 years of age and carries a prize of Rs. 5 lakh.

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