Current Affairs, News & Facts of 25 Jun 2014

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  • India is at 58th rank in the world, 12 places up from last year 70th, in terms of aggregate foreign money lying with Swiss banks for the year 2013.   
    • The country accounts for just 0.15% of an estimated $1.6 trillion total global wealth held in the tax haven of Switzerland. 
    • UK continues to be at top with close to 20% (277 billion Swiss francs) of total global wealth stashed in Swiss banking system. 
    • Its followed by the US (193 billion Swiss francs), West Indies (100 billion Swiss francs) and Germany (52.4 billion Swiss francs) in the ranking.
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  • Famous Hindi poet Kedarnath Singh clinches the 49th Jnanpith award for the year 2013.
    • He is the 10th Hindi writer to receive the honour and joins the likes of Sumitra Nandan Pant, Ramdhari Singh Dinkar among others. 
    • “Abhi bilkul abhi” and “Yahan se dekho” have been his most notable literary creations.
    • The award includes prize money of Rs 11 lakh and a citation.
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  • Ancient Pyu Cities of Myanmar becomes the first site from the country to be inscribed on the UNESCO’s World Heritage Site List.   
    • The Ancient Pyu Cities; trio of cities of Halin, Beikthano and Sri Ksetra, were built by the Pyu dynasty who ruled the region between 200 BC and 900 AD.
    • The cities are located in the dry zone of the Ayeyarwady (Irrawaddy) River basin. 
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  • Arvind Mayaram panel, formed to remove ambiguity between FDI (Foreign Direct Investment) and FII (Foreign Institutional Investment) and simplify norms, submits its report to the centre.   
    • It has suggested that foreign investment of over 10% in a listed company should be treated as FDI and investment from NRIs on a non-repatriable basis should be considered as domestic investment.
    • The panel on rationalizing definitions of FDI and FII also said foreign investment in an unlisted company should be treated as FDI. 
    • If the stake is not raised to 10% or above, then the investment can be treated as portfolio investment. 
    • Foreign direct investment is subject to sectoral caps.
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  • India and Myanmar decides to sign a MoU for cross border bus service between India (Imphal) and Myanmar (Mandalay).   
    • This will be a part of new dispensation's vision of strengthening relations and increasing people to people contact with neighboring countries.
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  • Veteran Tamil film director and producer Rama Narayanan breathes his last at 65.  
    • He holds the world record of directing the maximum number of movies by a director - 125 films in nine languages in a career spanning 36 years.
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  • Indian-origin student Prerna Pai's two experiments have been selected for NASA's Cubes in Space (CIS) programme. - read more cat
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  • All about Iraq crisis... - read more cat
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