Thursday, 26 November 2015

Current Affairs November 26, 2015

Constitution Day (India)
  • Constitution Day in India is celebrated on 26 November. It marks the anniversary of the adoption of the Constitution of India constitution by the Constituent Assembly of India on 26 November 1949 which later came into effect on 26 January 1950.
  • The Government of India declared November 26 as Constitution Day on 19 November 2015 by way of a gazette notification after Prime Minister Narendra Modi having earlier made such a declaration on 11 October 2015.
  • The year of 2015 also witnessed the 125th birth anniversary of Dr. Bhimrao Ramji Ambedkar who had chaired the Constituent Assembly and played a pivotal role in the drafting of the Constitution. Earlier the day was celebrated as Law Day. The day of November 26 was chosen to spread the importance of the Constitution and to spread awareness about Ambedkar.
Travel Food Services lines up Rs 150 crore to expand in cities
  • Travel Food Services (TFS), a subsidiary of Mumbai-based K Hospitality, has lined up Rs 150 crore of investment in its hospitality food service and travel retail businesses for next year. The 40-year-old company will strengthen its presence in India’s bigger cities apart from expanding in travel retail in newer segments such as rail.
  • The company has been steadily expanding its presence in the airport retail space by operating food and beverage outlets in New Delhi, Mumbai, Chennai and Kolkata apart from Muscat and Salalah overseas. It recently won a contract to operate outlets at Mangalore airport as well.
Modi greets people on first Constitution Day
  • Prime Minister Narendra Modi appealed to countrymen to uphold ideals and values of the Constitution and create an India that will make its founding fathers proud.
  • He said this day is a tribute to all those great women and men who worked tirelessly to give India a Constitution, which “we are very proud of“.
 TAPI gas pipeline project to start from December 13
  • The ground-breaking ceremony of the proposed multi-billion dollar 1,735-kilometre gas pipeline connecting Turkmenistan, Afghanistan, Pakistan and India will start from December 13, Turkmenistan Ambassador to Pakistan has said.
  • The trans-national gas pipeline project known as TAPI, is intended to carry 33 billion cubic meters of gas annually through the Afghan cities of Herat and Kandahar and terminate in Fazilka, a border town in India’s Punjab state.
  • Turkmenistan is said to have the world’s fourth-largest gas reserves, but currently exports almost all of it to China.
Ukraine stops buying Russian gas, closes airspace
  • Tensions between Russia and Ukraine escalated further as Ukraine decided to stop buying Russian natural gas — hoping to rely on supplies from other countries — and closed its airspace to its eastern neighbour.
  • Russia’s annexation of Crimea from Ukraine in March 2014 and its support for separatist rebels in the east brought relations between the two countries to a post-Soviet low. The fighting between Russia-backed rebels and government forces in eastern Ukraine killed more than 8,000 people and left parts of Ukraine’s industrial heartland in ruins.
HDFC Bank launches Rs 30 cr marketing campaign
  • Country’s second largest private sector lender HDFC Bank, which has launched ‘sonic branding’ or a musical logo, said it will spend over Rs 30 crore to promote the new brand positioning which stresses on the digital banking.
  • The ‘sonic branding’ is being included at all the touch-points like ATMs and phone-banking application, where customers will hear the tune, he said.
Bandhan Bank starts disbursing loans
  • Bandhan Bank Chairman and Managing Director Chandra Shekhar Ghosh has started disbursing regular loans, although at a muted pace, on steady deposit mobilisation.
  • The bank is offering retail, small and medium enterprises, and agriculture loans.
1. Housing loans have been capped at Rs 1,5 lakh,
2. Commercial vehicle loans at Rs 1,0 lakh and
3. Loans to small and medium enterprises at Rs 2,5 lakh.
  • All loans are linked to the base rate, which is set at 12 per cent, much higher than most banks.
  • Bandhan Bank has garnered deposits of Rs 3,700 crore, according to C S Ghosh, CEO and MD.
IRCTC ties up with Foodpanda; to let users choose meals from a variety of cuisine options
  • Expanding further its e-catering facility, Indian Railway Catering and Tourism Corporation (IRCTC) has tied up with online delivery firm Foodpanda, enabling consumers to order from a variety of cuisine options.
  • The collaboration, to be launched at New Delhi railway station next month, will provide customers with the choice to order meals at least two hours before the travel, said IRCTC Chairman and Managing Director A K Manocha.
  • E-catering service known as Food on track will be extended to other metros and cities across the country in due course.
Suzuki ties up with Snapdeal to sell motorcycles online
  • Prospective Suzuki motorcycle customers can now order their motorcycles through
  • The customers can browse through various Suzuki products offered online, pay a booking amount and choose a dealer closest to their location and take delivery from there after paying the rest of the amount.
IFC plans to invest $60 million in Tata Capital Housing
  • International Finance Corporation (IFC) is planning to invest around $60 million (around Rs 390 crore in Tata Capital Housing Finance Limited (TCHFL).
  • The investment will involve an IFC subscription of up to the rupee equivalent of $60 million (or about Rs 390 crore) to a secured non-convertible debenture (NCD) issued by the company in one or more tranches. The tenor will be 5-year bullet, the World Bank’s investment arm said in a statement.
  • Meanwhile, Tata Capital is also considering an affordable housing fund to invest in developers of affordable housing projects, and has invited IFC to play a lead role in the structuring and design of the Fund and to act as an anchor investor.
Vijay Mallya ready to pay principal amount Kingfisher owes to banks
  • Vijay Mallya, the chairman of grounded carrier Kingfisher Airlines, has offered banks to pay the principal amount that he owes but not the interest component and he has approached the bankers seeking a meeting, which may take place during the next few days.
  • The principal amount that KFA owes to the banks is between Rs 4,500 crore to Rs 5,000 crore, a banker, who is familiar with the deal said on condition of anonymity.
  • However, bankers are in no mood to settle for less and they may ask for the interest component also, at least a significant part of it. The interest component is upward of Rs 2,000 crore and public sector banks have kept the Finance Ministry in the loop regarding the issue.
Swiss drugmaker Roche launches costliest cancer drugs in India
  • As insurers, patients and governments across the world debate over the rising cost of healthcare, Swiss pharmaceutical major Roche has boldly launched two new drugs for late-stage breast cancer, pricing them higher than any other cancer medicine in the Indian market.
  • Kadcyla and Perjeta, the new class of drugs launched in India in October, cost Rs.2,10,000 (200 ml) and Rs 2,49,000 for a dosage, respectively.
  • Breast cancer is the leading cause of cancer death among Indian women. Nearly 1.3 lakh women are diagnosed every year with the disease in India. Kadcyla and Perjeta are prescribed for breast cancer patients tested positive for the HER2 protein, which promotes the growth of cancer cells.
Google launches new Chrome extension to save you from ‘Star Wars’ spoilers
  • A new Chrome browser extension will block any mention of Star Wars spoilers in any webpage that’s about to load.
  • A long time ago in what must to Millennials seem like a galaxy far, far away, movie spoilers weren’t a problem, even with a cinematic event the size of a new Star Wars film.
  • However, as the seventh official Star Wars instalment fast approaches, nothing could be further from the truth. The internet is already awash with spoilers and plot leaks that could well ruin the movie going experience.
  • Fortunately the Star Wars Spoiler Blocker is ready to protect you. It scans any page about to load in the browser window for any mention of key words or phrases relating to the sci-fi series and will blur out or post a warning if it detects anything as well as the option to proceed anyway.
Lenovo plans to double India smart phone production to 10 million units
  • Chinese smart phone maker Lenovo, which owns the Motorola brand, plans to nearly double local production to 10 million units annually next year, as it aims to become the No. 2 smart phone brand in the fastest growing market worldwide.
  • The company also plans to export from its existing facility in Chennai and will add more models from both brands to be made locally.
  • Lenovo plans to bring the popular phone customisation programme Moto Maker to India, after launching it in the US and Brazil.
DLF, Idea Cellular and Reliance Communications among top 12 stocks in focus
  • The domestic markets opened higher in trade ahead of the expiry of November futures and options series. Investors will also keep an eye on Winter Session of Parliament.
  • The S&P BSE Sensex surged over 100 points, while broader CNX Nifty was trading above its key psychological level of 7,850.
  • Here are top stocks which are likely to remain in focus today:
DLF: Realty major DLF ‘s promoters have bought 23 lakh shares of the company through open market transactions for nearly Rs 25 crore, raising their stakes to 74.99 per cent.
Idea Cellular: In a first spectrum trading deal of the country, Idea Cellular today signed a pact with Videocon Telecommunications to buy its airwaves in Gujarat and Uttar Pradesh West for Rs 3,310 crore.
SKS Microfinance: SKS Microfinance has partnered with IBM to transform operations from paper-based processes to a mobile solution. The end-to-end mobile solution will eliminate time-consuming and paper-based processes, and speed up the acquisition of new customers, the company said in a statement.
PC Jeweller: PC Jeweller on Wednesday said it has tied up with California-based Martian Watches for smart jewellery. The new range will integrate wireless technologies into jewellery and at the same time will provide interchangeable design modules through PCJ’s specially designed smart bracelets.
Reliance Communications: RCom is close to finalising a deal to sell its entire stake in tower unit Reliance Infratel, sources aware of the development said. RCom owns about 96 per cent stake in Infratel and the sale would fetch it around Rs 22,000 crore, which will be used to retire some debt.
JustDial: Local search engine JustDial today said it will spend up to Rs 164.5 crore in buying back shares from shareholders.
Tata Housing: Realty firm Tata Housing has tied up with another realtor Neptune group to develop a housing project in Mumbai at an estimated cost of Rs 200 crore.
Shriram Asset Management Company: Shriram AMC on Wednesday said it has got market regulator Sebi’s approval to manage offshore funds.
Mahindra & Mahindra: Utility vehicle majorMahindra & Mahindra launched its premium sports utility vehicle XUV500 with automatic transmission at a starting price of Rs 15.36 lakh (ex-showroom Navi Mumbai).
Adani Power: State-run Power Finance Corp today said its arm PFC Consulting Ltd has transferred three wholly owned subsidiaries toAdani Power Ltd.
Lupin: Lupin said it has received US health regulator’s final approval to market Blisovi oral contraceptive tablets in different strengths in the American market.
Aditya Birla Chemicals: Foreign fund house Morgan Stanley Asia (Singapore) Pte has raised its stake in Aditya Birla Chemicals (India) to more than 5 per cent by acquiring shares worth Rs 141.73 crore through an open market transaction.
Air India’s New Delhi-San Francisco direct flight from December 2
  • US’ San Francisco International Airport has announced a trivia contest on social media to mark the beginning of the first-ever non-stop flight from New Delhi to the popular tech city by Air India from December 2.
  • The contest, titled #NonstopAirIndia, invites participants to answer five trivia questions about Air India and their new service at the San Francisco International Airport (SFO).
  • A number of officials from the US and India, including Venkatesan Ashok, Consul General of India, will attend a formal ribbon cutting ceremony on December 2 to mark the beginning of the services.
  • Air India plans to launch services with three flights per week — on Sundays, Wednesdays, and Fridays.
Mars’ moon Phobos to form Saturn-like ring around the red planet
  • Mars’ largest moon, Phobos, is slowly falling towards the planet, and in about 10-20 million years, the moon will get so close that it will be shredded into a ring like the cones encircling Saturn, Jupiter, Uranus and Neptune, researchers, including one of Indian-origin, have estimated.
  • Tushar Mittal and Benjamin Black from the University of California – Berkeley wanted to know what processes a moon might undergo as it moves inward toward a planet.
  • Only one other moon in the solar system, Neptune’s largest moon Triton, is known to be moving closer to its planet.
  • The researchers projected that though inevitable, the demise of Phobos is not imminent and the ring will persist for anywhere from one million to 100 million years.
Ola hires Infosys veteran Rajiv Bansal as Chief Financial Officer
  • On demand transportation app Ola has hired Infosys veteran Rajiv Bansal as its chief financial officer.
  • Bansal brings close to 21 years of experience in finance and will join the company in January. In his earlier stint, he was the CFO and recently transitioned to being an Advisor to the CEO at IT firm Infosys.
South Korean duo Son Heung-min and Ki Sung Yueng shortlisted for Asian award
  • South Korean pair Son Heung-min and Ki Sung Yueng and Australian midfielder Massimo Luongo were shortlisted for the Asian Football Confederation’s International Player of the Year award.
  • Luongo was named Player of the Tournament as Australia beat South Korea to win the Asian Cup on home soil in January.
  • The fledgling award is one of 21 that will be handed out at the AFC annual ceremony in New Delhi.
  • The AFC Player of the Year award, for those who play their club football in the continent, will be contested by Guangzhou Evergrande captain Zheng Zhi and Emirati duo Omar Abdulrahman and Ahmed Khalil.
First in 138 years: Tea before Supper during Day/Night Test
  • When Australia and New Zealand players step out at the Adelaide Oval in the afternoon of November 27 to play the first ever Day/Night Test match with pink kookaburra, there will be another little first that will be associated with the ‘Game of Glorious Uncertainties’
  • In 138 years of Test cricket, the first break has always been the lunch followed by the tea break but these breaks will witness a ‘role reversal’ during the Test match.
  • India’s only day-night first-class match was the Ranji Trophy final between Mumbai and Delhi played with white ball at the Roop Singh Stadium in Gwalior from April 5-9, 1997.
Indian shuttlers Saina Nehwal, Kidambi Srikanth qualify for World Superseries Finals
  • Saina Nehwal and Kidambi Srikanth were the only two Indian shuttlers who qualified for the prestigious year-ending $1 million BWF World Superseries Finals to be played at the Hamdan Sports Complex from December 9-13.
  • The tournament sees the top eight players/pairs of the world compete in all the five categories of the sport — singles (men’s and women’s) and doubles (men’s, women’s and mixed). Both Saina, who had also reached the title round of this event in 2011, and Srikanth had also qualified last year.
  • World No.2 Saina qualified quite comfortably, finishing fifth in the Superseries women’s singles rankings. The Olympic bronze medallist clinched the India Open title in March after reaching the final of the All England Open — both of which were Superseries events. Saina had also reached the final of the China Open.
  • In men’s singles, China’s Tian Houwei, who finished seventh, missed out as only two players from a member association, in this case China, are eligible to contest. As compatriots, two-time Olympic champion Lin Dan and reigning World Champion Chen Long qualified as No.1 and 5 respectively, Tian had to miss out.

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