Current Affair Updates: 22nd January 2014


Prime VIP
Staff member
National Affairs
Now trade between India and Pakistan could be smoothen as India and Pakistan has agreed to allow 24×7 trade through the Wagah-Attari border. The mutual decision by both countries will allow containers to be moved right up to Amritsar and Lahore. The decision was taken during a meeting held between Commerce Ministers from both countries. During the meeting, it was decided to re-start the trade liberalisation process which was stalled for 16 months and will work towards non-discriminatory market access on a give-and-take basis. Presently, bilateral trade between India and Pakistan is a little over $3 billion per annum.
An Open Market Operations (OMO) will be conducted by the Reserve Bank of India to purchase four Government Securities (G-Secs) about Rs 10,000 crore. RBI has decided to conduct the OMO because there is need to provide liquidity of a more permanent nature in Indian market. OMO will purchase four G-Secs which will mature in 2017 (July) and will carry coupon rate of 8.07 %, 7.28 % GS for the year 2019, 7.16 % GS for the year 2023 and 8.28 % GS for the year 2027 will aggregate Rs 10,000 crore.
In order to strengthen and deepen bilateral ties between India and South Korea, both countries have inked altogether 9 pacts. The pact was signed after a meeting held between Prime Minister Dr Manmohan Singh and Park Geun-hye, President of South Korea. Due to this deal, the most awaited and the long-delayed Posco steel plant will start in upcoming days. The deal includes cyber space cooperation, revision of the existing Double Taxation Avoidance Convention, defence trade, military equipment production by both countries with the collaboration of India’s defence research organisations. Also under the MoU, a Joint Applied Research was discussed which will enable the scientists of both countries to work together and develop technologies.
An exclusive and premium savings bank deposit scheme ‘Mahabank, Royal Savings Account’has been introduced by Bank of Maharashtra. The scheme is for high net worth individuals (HNI) to cover specialised services to those customers who have minimum monthly average balance (MAB) of Rs one Lakh deposit in their savings bank account. Those who will have these accounts will have the benefit of free accident death insurance, free national electronic funds transfer (NEFT)/real time gross system (RTGS) transactions through Internet banking, assistance of a relationship manager and higher transaction limit on ATM-cum-debit card. Also other benefits will include 50 % concession on annual maintenance charge of Gold Credit Card which is a BoM SBI co-branded, 100 free personalised cheque leaves per year, 50 % concession in the processing fees of all retail loans and for the first year free demat account facility.
Sachin Tendulkar, the legendary Indian cricket icon will mentor Gen-Next cricketers Indian cricket icon Sachin Tendulkar will mentor 11 budding players. The list of 11 rising cricketers include Vijay Zol, Unmukt Chand, Parveez Rasool, Chirag Khurana, Manan Vohra, Akshdeep Nath, Manpreet Juneja, Aparajith Baba, Vikas Mishra, Rush Kalaria and Sarfaraz Khan.
The most coveted Allan Border medal was grabbed by Australian pace spearheads Mitchell Johnson. The event was held in Sydney. The fast-bowler Johnson has overcome Michael Clarke, the captain of Australian cricket team. Clarke has won the award for a record fifth time. Johnson received the award as he took 37 wickets during Ashes and had helped Australia to grab the Ashes. 21 years old Meg Lanning has grabbed the Belinda Clark medal for the best female cricketer of the year. Meanwhile Clarke was announced as the Test player of the year.
Hero Hockey World League title was clinched by Netherlands for the first time while beating New Zealand 7-2. The HHWL was held at the Major Dhyan Chand National Stadium in New Delhi. Meanwhile England grabbed the bronze medal by crushing world champions Australia 2-1 while Belgium retained its fifth place and India stood at sixth place.
Russian superstar Maria Sharapova is out from Australian Open as Slovak Dominika Cibulkova smashed her in fourth round 3-6, 6-4, 6-1. The no. 3 seed and tennis ace Sharapova was suffering from hip injury from past many days. The No.20 seed Cibulkova, who had never reached the quarter-finals before knocked out the four-time major-winner Sharapova in fourth round.
India was crushed by host New Zealand by 24 runs in first ODI. In spite of Virat Kohli’s smashing 123 runs could not save India in Napier. After this, New Zealand is leading with 1-0 in the five-match series. New Zealand gave the target of 293 runs for victory and India could only reach up to 268 with a shaky start. Also, Skipper and Indian cricket team captain MS Dhoni became the first Indian wicketkeeper and overall the fourth to effect 300 dismissals in ODIs.