Daily GK Potion – 18th September 2014

  1. Axis bank signs MoU with China Development Bank
    • The MoU was signed by V Srinivasan, executive director, corporate banking, Axis Bank, and Zhao Xiaoyu, executive vice-president, China Development Bank, in New Delhi.
    • The MoU will help Axis bank cater its corporate clients by funding them at competitive pricing.
    • It will also give it an opportunity to work with closely with Chinese companies in facilitating them in their domestic requirements in India.
  2. Johnson and Johnson will set up Rs 400 crore plant near Hyderabad in Telangana.
  3. Prime Minister Narendra Modi to launch ‘Make in India’ campaign on September 25.
  4. RBI eases FDI norms for equity shares
    • RBI said “equity shares shall be issued in accordance with the extant FDI guidelines on sectoral caps, pricing guidelines and the issue of equity shares under this provision shall be subject to tax laws as applicable to the funds payable and the conversion to equity should be net of applicable taxes.”
    • RBI has allowed companies to issue equity shares to resident outside India against any type of funds subject to certain conditions.
  5. India signs pact with China, gets 20 billion dollars as investment
    • India signed 5-year trade and economic cooperation with China to improve trade balance and obtained 20 billion dollar Chinese investment into the country.
    • It seeks transparent, stable and investor friendly business environment and enhanced cooperation between two nations.
  6. Indian Hockey team captain Sardar Singh will be India’a flag bearer at 17th Asian games in opening ceremony at Incheon, South Korea.
  7. India drops to 158th position in latest FIFA ranking
  8. Hollywood actor, Leonardo DiCaprio, has been appointed as a United Nations representative on climate change.