Richard Rahul Verma to be U.S. ambassador to Indiai.) The United States senate on Tuesday confirmed by a voice vote the nomination of Richard Rahul Verma as the next US ambassador to India.
ii.) Mr. Verma (46) is the first Indian-American to be the U.S. ambassador to India and is expected to be sworn in shortly.
iii.) He will arrive in New Delhi ahead of the India visit of U.S. President Barack Obama who will be the chief guest on this year’s Republic Day.
iv.) Mr. Verma served as assistant secretary of state for legislative affairs at the State Department in the Obama administration from 2009 to 2011.
Bhutan, not India, first recognised Bangladesh
i.) Bhutan and not India was the first to recognise Bangladesh as an independent nation, Bangladesh’s Foreign Office has said, putting an end to decades old speculation on the issue.
ii.) Bhutan was the first country, there is no controversy about that,” Foreign Secretary M. Shahidul Haque told reporters on Monday. He said both Bhutan and India had recognised Bangladesh as an independent country on December 6, 1971 but Thimphu’s announcement came hours ahead of India’s official recognition.
iii.) The Foreign Secretary, however, did not specify the time gap. Dhaka was liberated by joint forces of India and Bangladesh on December 16 with the unconditional surrender of Pakistani troops.
RBI to come out with guidelines on refinance
i.) The Reserve Bank of India (RBI) would shortly come out with guidelines on refinance of
ii.) There is a demand from the industry for refinance of existing projects. RBI will come out with the guidelines soon,” Mr. Mundra said at a CII interaction here.
iii.) He said new projects would get the scope for refinance every five years till the economic life of the projects as already declared.
Jaitley to meet state finance ministers tomorrow on GST
i.) Finance Minister Arun Jaitley will on Thursday meet his state counterparts to iron out the challenges, in rolling out the Goods and Services Tax (GST).
ii.) The meeting would “discuss some of the challenges that the states see at this point of time”, Minister of State for Finance Jayant Sinha told reporters on the sidelines of Delhi Economics Conclave here on Wednesday.
iii.) On GST we are working on variety of discussions with the states. The legislative aspects of the GST are complicated, they have to be approved by the states. CST compensation is one of the item, which is under discussion,” he said.
Technical textiles to grow at 20 per cent
i.) The technical textiles sector has huge potential, and will grow at 20 per cent annually in the next two years, said Union Minister for Textiles Santosh Kumar Gangwar here.ii.) According to XII Plan estimates, the market size of the sector is expected to reach Rs.1.59 lakh crore by 2016-17 from the current market size of Rs.1.10 lakh crore.
iii.) At present there are about 850 registered technical textile units and most are concentrated in Gujarat, followed by Maharashtra.
Russia-Pakistan ties in India’s long-term interest: Putin
i.) Russia’s cooperation with Pakistan will serve the “long-term” interests of India, says Russian President Vladimir Putin, who is set to land here on Wednesday for the annual India-Russia summit.
ii.) The high level of bilateral cooperation and trust allows us to start a gradual transition from the traditional producer-consumer model to joint development and production of advanced weapons systems,” he added, referring to the co-developed Brahmos missile as well as the fifth-generation fighter aircraft.
India-Israel FTA talks may resume soon
i.) Israel Ambassador Daniel Carmon on Tuesday expressed the hope that negotiations for a free trade agreement with India will resume soon.
ii.) We hope very soon we will be in a position to bring the issue of FTA back on track, he said on the sidelines of a conference on Indo-Israel relations here.
iii.) Though working groups of the countries have had a few rounds of deliberations, a meeting scheduled last month could not be held for some reason, he replied when journalists asked him about the status of the talks.
SBI launches home-grown index to track economic trends
i.) The country now has another monthly economic index, with State Bank of India on
ii.) The SBI index has been developed on the basis of the bank’s internal loan portfolio, which mirrors the credit demand in the country, and other data sets available in public domain.
Ranji Trophy: J&K upsets Mumbai
i.) Jammu & Kashmir cricket team celebrate after defeating 40-time champion Mumbai in a Ranji Trophy Group A match at the Wankhede Stadium in Mumbai on Wednesday.
ii.) Jammu & Kashmir performed a giant-killing act for posterity to look back with pride. The Ranji Trophy minnows showed sufficient skill and character in the batting and bowling departments on way to score a stunning win against 40-time champion Mumbai in the Ranji Trophy Group `A’ league match at the Wankhede Stadium on Wednesday.
iii.) It was a first-time clash between the two teams in the 80-year old national championship and the Parvez Rasool led Jammu & Kashmir came out with flying colours in the champion team’s den so to say.
Advanced Pinaka Mark-II rocket successfully test-fired
i.) An advanced version of the indigenously developed Pinaka Mark-II rocket was
ii.) The tests were conducted from the Proof & Experimental Establishment (PXE) at Chandipur firing range No. 2, about 15-km from Balasore, defence sources said.
iii.) Four rounds of extended range, Mark-II version of Pinaka rockets with more than 60-km range were successfully tested
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