Daily GK Potion – 5th and 6th November 2014

  1. India and Russia agrees on Free Trade Agreement (FTA) and other agreements
    • It is the first FTA initiated by Modi government during the 20th session of India-Russia Inter-Governmental Commission (IRIGC) in New Delhi.
    • Russian oil to telecom conglomerate Sistema JSFC will submit proposal to develop ‘Smart City’ in India.  It has already developed smart city in Moscow and other Russian cities such as Rostov, Ufa, Kazan, Smolensk and Novosibirsk.
    • Both side agreed for joint cooperation between Indian company National Mineral Development Corporation (NMDC) and the Russian company ACRON for development of potassium and magnesium deposits in Talitsky mine in Perm region of Russia and Partomchorr apatite-nepheline ore deposit (Murmansk region)
    • They also rolled the plan to launch group of telecommunication satellites “NextStar” on geostationary orbit of the earth on the basis of low budget platform.
    • They also agreed for projects in high end computing.
    • Mr. Rogozin also co-chaired the eighth India-Russia Forum for Trade and Investments, an active business forum between the two countries, along with the Minister of State for Commerce & Industries Nirmala Sitharaman.
  2. India plans to sell 5% stake in state run ONGC
    • The government of India is planning to sell 5% of its state in state run energy explorer Oil and Natural Gas Corp in the last week of November or the first week of December.
  3. Hindustan Zinc’s CEO Akhilesh Joshi has been appointed as the vice-chairman of the Brussels-based International Zinc Association.
  4. DLF allowed to redeem Rs 1806 crore of Mutual Fund
    • In an interim relief against SEBI order, DLF was allowed by the Securities Appellate Tribunal to redeem mutual funds worth Rs 1,806 crore till next month.
  5. Software services firm Infosys has appointed David D Kennedy as its Executive Vice President and General Counsel.
  6. e-retailer Flipkart appointed Sanjay Baweja as its Chief Financial Officer (CFO)
    • Mr. Sanjay, was Global CFO for Tata Communications, brings with him over three decades of experience, having worked with large names like Bharti Airtel, Emaar MGF and Xerox ModiCorp, Flipkart
  7. Prime Minister Narendra Modi among world’s most powerful people
    • PM Modi made his debut entry in the Forbes list of world’s most powerful people. He is ranked 15th in the list.
    • Russian President Vladimir Putin topped the list who pipped his U.S. counterpart Barack Obama for a second year in a row.
    • The 73 people list also includes names of Reliance Industries Chairman Mukesh Ambani at 36th, ArcelorMittal Chairman and CEO Lakshmi Mittal at 57th and Microsoft’s Indian-born CEO Satya Nadella at 64th.
  8. Anita Kapur is new CBDT chairman
    • Senior IRS officer Anita Kapur has been appointed as the new chairperson of the Central Board of Direct Taxes (CBDT), the top authority of the Income Tax department.
    • She is 1978-batch officer of the Income Tax cadre, was till now serving as Member (Legislation and Computerisation and Income Tax) in the CBDT.
    • The CBDT has six members apart from the Chairperson and is the apex body for framing policy and administrative issues related to direct taxes and the Income Tax department.