3RD JULY DAILY GK UPDATE 1. Telecom Comm approves 100% FDI in telecom sector i. Inter-ministerial body Telecom Commission on Tuesday gave its nod for raising foreign direct investment limit in the sector from 74 percent to 100 per cent subject to Cabinet approval. ii. "TC has approved raising of FDI limit to 100 per cent from 74 per cent at present where 49 per cent of investment in an entity can be done through automatic route and FIPB approval will be required for raising further stake. The decision will come in force only after cabinet approves it," a senior government official said. iii. The official said that Department of Telecom will send a detailed note to the Department of Industrial Policy and Promotion which would take it forward for inter-ministerial consultations before moving it to the Cabinet. iv. At present, FDI limit in the sector is at 74 per cent where 49 per cent is done through automatic route and rest requiring nod from Foreign Investment Promotion Board. v. The idea behind the proposal to increase FDI limit in telecom sector is to help the industry get fresh funds to lower financial burden. vi. Indian telecom firm Reliance Communications said "100 per cent FDI in telecom will enhance value for all stakeholders." 2. Sunil Soni appointed Director General of Bureau of Indian Standards i. Sunil Soni, on 2 July 2013 has been appointed as Director General of Bureau of Indian Standards (BIS). ii. Sunil Soni is a 1981 batch IAS officer of Maharashtra cadre who at present is on compulsory wait in the Department of Financial Services under Ministry of Finance. iii. The appointment of Sunil Soni as Director General came with the superannuation of Sharad Gupta who himself is a 1977 batch IAS officer of Assam cadre. Bureau of Indian Standards i. Bureau of Indian Standards (BIS) is a body under the Ministry of Consumer Affairs, Food and Public Distribution which basically looks after the formulation of standards for all segments of industry and business. ii. It also certifies products, which is popularly known by ISI mark. It is also into certification of imported products and hallmarking of jewellery. 3. India and Nepal agreed on Cooperation in Tourism i. Ministry of Tourism of India on 2 July 2013 agreed to a proposal from the visiting Tourism and Travel delegation from Nepal for joint publicity of India and Nepal as Tourist destinations in other countries. ii. The Ministry also agreed to a suggestion for joint offering of Tour packages in third countries by tour operators of India and Nepal. 4. Negi wins Continental Chess Open title i. Top seeded Indian Grand Master Parimarjan Negi won the Continental Chess Association Open title, his third of the season, after pipping his nearest rival Bindi Cheng by 1.5 points, in Washington. ii. The young Indian Negi ended the tournament, featuring six GMs, unbeaten with 7.5 points after nine rounds. iii. Negi won six rounds and drew the remaining three to finish 1.5 points ahead of Canadian International Master Cheng, who won six rounds, lost one and drew two. 5. India seek to establish Asian power status i. India will seek to re-establish itself as a continental power in athletics when the 20th Asian Athletics Championships begins in Pune on from Wednesday. ii. With a record participation of 577 athletes from 43 countries out of 45 members in the Asian Athletics Association -- the highest ever in the history of the championships -- India is looking to regain some of the lost ground in the five-day flagship event of the AAA, to be held at the Shiv Chhatrapati Stadium at Balewadi in Pune. iii. The event also assumes significance as the winners will get direct entry for the World Championships to be held in Moscow in August. iv. India is being represented by a record 107 athletes as it has the luxury of naming three participants in each of the 42 events (21 each for men and women). v. The country is expecting around five gold and 15 medals in total. vi. After an impressive show in 2010 Asian Games in Guangzhou, the country has nothing to show at the international level.
Posted on: Wed, 03 Jul 2013 17:27:33 +0000