SNIPPETS

May 1-10 

The International Monetary Fund has thrown a $17-billion lifeline to recession-wracked Ukraine, whose
President has admitted that authorities are powerless to prevent pro-Russian militants over-running the
east of the country. The Washington-based IMF said that $3.2 billion would be available immediately, as
the West tries to shore up the government in Kiev, which has put its armed forces on “full combat alert”
amid fears of a Russian invasion. 

The Delhi government came out with the draft notification making it mandatory for women travelling on
two-wheelers, driving or riding pillion, to wear helmets. 

Gulzar honoured with Dada Saheb Phalke award. 

Kedarnath reopens after a year of flash floods. 

India finally tested its first indigenous air-to-air missile "Astra" from a Sukhoi-30MKI fighter jet, marking a
significant turning point in the decade-long tortuous developmental saga of the complex beyond visual
range (BVR) weapon. 

Libyan businessman Ahmad Mitig was chosen as interim Prime Minister after receiving 121 votes in the
country's parliament, the General National Congress. There are continuing disagreements over the legality
of the vote. Libya has been without an interim Prime Minister since Ali Zeidan was voted out by the GNC in
March. 

Tata group Chairman Emeritus Ratan Tata has become the first Indian since independence to receive the
Knight Grand Cross of the Order of the British Empire (GBE), one of the highest civilian honours of the UK. 

Controversial former IPL commissioner Lalit Modi, who has been living in exile after being slapped with a
life ban, was elected president of the Rajasthan Cricket Association, prompting a livid BCCI to indefinitely
suspend the RCA. 

Coming down heavily on the Sahara Group for “systematically” frustrating all the orders on refund of over
Rs 20,000 crore to depositors, the Supreme Court dismissed the petition of its chief Subrata Roy against
his detention saying the order jailing him was “legal''. Upholding its order to detain him, the court asked
the group to make a fresh proposal for depositing Rs 10,000 crore to get a bail. 

Pakistan's parliament voted unanimously to lift a ban on YouTube, in a non-binding resolution that was
nonetheless welcomed by free speech campaigners as an important symbolic move. The video-sharing
website has been blocked in Pakistan since September 2012 over its hosting of the "Innocence of
Muslims" movie that sparked furious protests around the world. 

Start- up carrier AirAsia India — a joint venture between Malaysiabased low- cost carrier AirAsia, Tata
Sons and Arun Bhatia of Telestra Tradeplace — finally got a licence from aviation regulator DGCA to
operate in India. 

The Supreme Court banned Tamil Nadu's centuries-old Jallikattu bull fights. 

The Reserve Bank of India (RBI) said that banks should allow customers to prepay floating rate term loans
without any penalty. The central bank in its first bi-monthly policy on 1 April 2014 had said that banks
should also not take undue advantage of customer difficulty or inattention.

The elections are the first since the death of Nelson Mandela. led by its prime ministerial candidate Narendra Modi. May 11. The turnout in 2009 was 58.01 per cent in 1984 in the wake of the assassination of the then Prime Minister Indira Gandhi.The Cabinet swiftly appointed a deputy premier — Niwattumrong Boonsongpaisan — as Ms Yingluck’s replacement as the ruling party struggled to regain its footing after the judicial blow.  South Africa's ruling ANC notched up a commanding victory in the fifth post-apartheid election. The home ministry said the LTTE.  The 23-year-old ban imposed on terror group LTTE has been extended by five years by the government which said the outfit is a threat to India's sovereignty and integrity.  Reliance Industries and partners BP plc of UK and Canada's Niko Resources slapped an arbitration notice on the government over the delay in implementing the revision of natural gas prices. LTTE. The SIT. The overall turnout in all the nine phases of polling this year stood at 66. when the Congress. surpassing the previous best of 64. posting the highest in the history of Lok Sabha elections.  Lakhdar Brahimi resigned as United Nations special envoy in charge of mediating peace talks on the civil war in Syria. leaving the government clinging to power but the nation still locked in a political crisis. will also probe the role of market regulators like Securities Exchange Board of India and RBI. led by then Prime Minister Rajiv Gandhi won a landslide victory.000 crore (Rs 100 billion). promising to exchange information on insurgents and drugs and human trafficking. further dimming prospects for a peaceful resolution to the conflict. with 282 seats on its own. .  The Bharatiya Janata Party (BJP) established a simple majority on its own in the Lok Sabha.  CBI constituted a Special Investigation Team to probe the Saradha chit fund case in which investors in four states were allegedly duped of over Rs 10. according to election results that gave the main opposition party more than five times as many seats as the ruling Congress—buoying the stock markets and the rupee. The alliance it leads—National Democratic Alliance (NDA)—has 336 seats in the lower house of the Parliament. even after its military defeat in May 2009 in Sri Lanka. on the marathon Lok Sabha elections with an all-time record high turnout of 66. This is the highest number of seats won by any party on its own since the 1984 Lok Sabha elections. 2014.  After India suspended construction on an internal container port on India-Myanmar border.  President Vladimir Putin flew in to Crimea. The BJP.May 20  The curtains came down on 12 May. won the Lok Sabha elections. . the two countries signed an agreement on border cooperation. giving President Jacob Zuma a second term in office after the first was marred by controversies including claims of corruption and a sluggish economic growth. and the party had just 244 seats in the Lok Sabha. to be headed by Joint Director Rajeev Singh.38 per cent.19 per cent. which was behind the assassination of Prime Minister Rajiv Gandhi. The 1991 Congress government was a minority one. Thailand’s Constitutional Court dismissed Prime Minister Yingluck Shinawatra and nine ministers for abuse of power. marking the Soviet victory in World War Two and proclaiming the success of the peninsula’s seizure from a Ukraine that Russia says has been taken over by fascists.38 per cent as the final phase of polling covering 41 seats in three states replicated the trend of increased voters' participation seen in the previous 8 rounds. has not abandoned the concept of 'Eelam' and has been clandestinely working towards the 'Eelam' cause by undertaking fund raising and propaganda activities. has been banned since 1991.

was appointed Prime Minister.  Biju Janata Dal president Naveen Patnaik was sworn-in as Chief Minister of Odisha for the fourth consecutive term in Bhubaneswar. .  Narendra Modi.84 billion (115 billion euros).  Mahadalit leader Jitan Ram Manjhi was sworn in as Bihar Chief Minister after Nitish Kumar quit the post in the wake of a rout in the Lok Sabha elections..  China lashed out at the ASEAN for backing Vietnam over tensions in the South China Sea sparked by Beijing's deployment of an oil rig in disputed waters and asked the 10-member grouping to stay neutral to avoid "detrimental" impact on bilateral ties. riding on Telangana state sentiment. a day after his party Janata Dal (United) suffered a drubbing in the general elections.  A Russian rocket carrying its most advanced communication satellite to date fell back to Earth minutes after lift-off in the latest blow to the country's once-proud space industry. the TDP won 103 of the 175 seats against all odds.TRS won 65 of the 119 Assembly seats. Google's brand value shot up 40 per cent in a year to $158. a day after his Congress party lost the national election.  Pawan Chamling was sworn in as Sikkim Chief Minister for the record fifth consecutive time. who steered BJP and the NDA to a landslide victory in the Lok Sabha election.  Former Delhi chief minister Arvind Kejriwal was arrested and sent to Tihar Jail after he refused to furnish a bail bond in connection with a criminal defamation complaint filed against him by BJP leader Nitin Gadkari. who will succeed PM-designate Narendra Modi as chief minister of the state.  Pradesh Congress Committee president Nabam Tuki was sworn in as the new Chief Minister of Arunachal Pradesh. Telangana Rashtra Samiti (TRS) is all set to form the first government in the new state of Telangana while Telugu Desam Party (TDP) swept the coastal districts to form the next government in the new state of Seemandhra.  Bihar Chief Minister Nitish Kumar submitted his resignation to Governor D. May 21 onwards  Gujarat Revenue Minister Anandiben Patel was elected leader of the Bharatiya Janata Party Legislature Party.  President Pranab Mukherjee dissolved the 15th Lok Sabha as part of a formality before the constitution of the new Parliament.  Prime Minister Manmohan Singh resigned from office after two successive terms.  Kathleen Stephens is the new interim US Ambassador to India. $400bn (£237bn) deal for Gazprom to deliver Russian gas to China in a deal that underscores Russia's shift towards Asia amid strained relations with the west.  US search engine Google has overtaken rival technology titan Apple as the world’s top brand in terms of value. Patil. Millward Brown said in its 2014 100 Top BrandZ report. ushering in a new era of a non-Congress government with an absolute majority on its own in 30 years. In Seemandhra.  Russia and China have signed a 30-year. global market research agency Millward Brown said.  An Egyptian court on Wednesday sentenced ousted president Hosni Mubarak to three years in prison on charges of stealing public funds.Y. bringing the curtains down on the months-long leadership crisis in the border State.

. hailing it as a model for peacefully settling increasingly tense territorial disputes in the region.. though it remains unclear what practical impact it will have. Ms Ilmi accused the party of sensationalism and taking impulsive decisions. showed that the escalating rows in the South China Sea could be resolved without violence. Indonesian President Susilo Bambang Yudhoyono said the agreement. leader of Naga Peoples Front (NPF).R Zeliang.  Thailand’s coup leader. was sworn in as the chief minister of Nagaland following the resignation of Neiphio Rio. Along with him.  Malavath Purna. subjects Boko Haram to an arms embargo and asset freeze. Prayut Chan-O-Cha. Blaming the party for lacking inner-party democracy. 10 Ministers of State with independent charges and 12 Ministers of State also took oath of their offices. blacklisting it as an al-Qaida-linked terrorist organization as protesters stepped up demands on Nigeria to release 200 kidnapped schoolgirls. The terror designation. the result of 20 years of negotiations.  The Narendra Modi government has set up a special investigation team (SIT) to to implement the Supreme Court's order on unearthing the black money stashed abroad.  Narendra Damodardas Modi was sworn-in as the 15th Prime Minister of India on 26 May 2014. The Prime Minister and his Council of Ministers were appointed in term of Article 75 of the Constitution of India. who has been elected to Lok Sabha.  The United Nations imposed sanctions on Boko Haram.  In a double blow to the Aam Aadmi Party.  Real Madrid won the UEFA Champions League final for its record 10th European title by beating Atletico Madrid 4-1. 45-member Council of Ministers that includes 23 Ministers with Cabinet rank.  Indonesia and the Philippines signed a maritime border accord. Shazia Ilmi (a founder member) and Captain GR Gopinath resigned. a 13-year-old tribal student from Nizamabad district in Andhra Pradesh. T. has recently escalated its campaign of attacks that have left thousands dead since 2009. The group. immediately welcomed by the US. received royal endorsement to lead the politically divided kingdom and quickly issued a stark warning that he would brook no further opposition to his takeover following a series of angry protests. which demands the creation of an Islamic state in mainly Muslim northern Nigeria.  Retired IAS officer and former chairman of Telecom Regulatory Authority of India Nripendra Misra was finally appointed as principal secretary to PM Narendra Modi after a determined government swiftly promulgated an ordinance to clear the way for him to take over the coveted post. created history by becoming the youngest girl in the world to scale the Mount Everest.

. Gary Becker Gary Becker. the "Prince of Darkness" who was responsible for the look of such eradefining films of the Seventies as the first two Godfather films. Annie Hall and Manhattan.PEOPLE IN NEWS Ahmed Matiq Despite the protest from a number of non-Islamist parliamentarians.I Joe for developing the world's first action figure. the last Communist leader of Poland. one of the most celebrated actor/directors in the Israeli entertainment industry. General Wojciech Jaruzelski Gen. Dalia Grybauskaite Lithuania’s ‘Iron Lady’ Dalia Grybauskaite won an unprecedented second term in a presidential runoff held amid widespread apprehension over a resurgent Russia. died in Warsaw at 90. Ajit Kumar Doval Ajit Kumar Doval was appointed as the new National Security Advisor (NSA) of India. Gordon Willis Legendary cinematographer Gordon Willis. and also one of its most troubled souls. Wojciech Jaruzelski. Saleh al-Makhzoum. died at 83. He was formerly the Director of Intelligence Bureau (IB) and played various important roles during his highly acclaimed career as an intelligence officer. Libya's interim parliament on May 4 swore in 42. His name was proposed by India and Pakistan and was seconded by Bhutan and Bangladesh during an election to the executive council of SAARCLAW held in Kathmandu in May. Donald Levine Hasbro toy company executive credited as the father of G. died in Tel Aviv at the age of 68. died in Rhode Island. Assi Dayan Assi Dayan. Hemant Batra Hemant Batra of Haryana has been unanimously re-elected as the secretary general of the South Asian Association for Regional Cooperation in Law (SAARCLAW).year-old businessman Ahmed Matiq in a televised session headed by the second deputy of parliament. and member of the Muslim Brotherhood's Justice and Construction Party. under Prime Minister Narendra Modi’s government. who sent tanks to crush Solidarity’s stirrings for democracy in 1981 and went on to preside over the death of the system that had nurtured him. All the President's Men. died Sunday at the age of 82. a Nobel Prize-winning professor of economics and sociology at the University of Chicago whom colleagues called one of the most influential economists of the 20th century.

Angelou defied all probability and category. passed away in New York. N. and a close associate of Deccan College. Mr Rohatgi will hold the post for three years. Verma is currently for Exploration in OVL's parent company. Nancy Powell. is expected to take up her new assignment in early June. replacing outgoing leader Laura Chinchilla Miranda and her National Liberation Party’s (PLN) 8-year hold on the presidency. a modern Renaissance woman who survived the harshest of childhoods to become a force on stage. passed away in Chennai at 84. Pavadia was the first woman to be appointed Narcotics Commissioner of India. who was the US ambassador in New Delhi until her resignation in April. Kenneth Adrian Raine Kennedy Kenneth Adrian Raine Kennedy. (OVL). Luis Guillermo Solis Luis Guillermo Solís Rivera of the progressive Partido Acción Ciudadana (PAC) was sworn in as President of Costa Rica. N Srinivasan N Srinivasan.Jagjit Pavadia India's candidate Jagjit Pavadia won the closely-contested election to the International Narcotics Control Board for the 2015-2020 term. died on May 9 in Hyderabad. Oil and Natural Gas Corporation (ONGC). screen. Director .S. doyen of south Asian archaeology in the U. according to the US state department. Kathleen Stephens Kathleen Stephens. Prof Kennedy excavated the Stone Age site of Langhnaj in Gujarat and also took part in many excavations conducted by various institutions in India. Janardan Reddy Former Andhra Pradesh chief minister and a sitting Rajya Sabha member from Andhra Pradesh who served as chief minister from December 1990 to October 1992 and served also as state minister and legislator in his long political career spanning several decades. will be her country’s interim envoy in New Delhi. becoming one of the first black women to enjoy mainstream success as an author and thriving in virtually every artistic medium. has left for the US. the top law officer of the country. Pune. Mukul Rohatgi The government appointed senior Supreme Court advocate Mukul Rohatgi as the new Attorney General of India. She was 86. one of the pioneers of the Indian atomic energy programme and the first project director of Indira Gandhi Centre for Atomic Research (IGCAR). has died. Maya Angelou Maya Angelou. She will serve as the interim envoy until a new permanent ambassador is nominated and confirmed by the US Senate. a former US ambassador to South Korea. the printed page and the inaugural dais. Mr. As part of his field studies in south Asia. Ms Stephens. Pakistan and Sri Lanka. Narendra Kumar Verma Narendra Kumar Verma was on May 21 selected to head ONGC Videsh Ltd.

Russi Mody Russi Mody. seeking to play a key role in the new state of Telangana. The Australian won the championship in 1959. later earning the sobriquet of India’s “Steel Man”. was sworn in as the 15th prime minister of the world's largest democracy. to enable former chairpersons of the regulatory body to take up employment with the government. Narsing Rao has resigned. but lost by a margin of over 97.Narendra Modi Narendra Modi. acting on advice of the Union Cabinet. Mathur's term will be a short three months. promulgated an ordinance amending the Telecom Regulatory Authority Act. which had more than 75 ministers. a senior BJP leader deeply involved in the recent electoral campaign. . getting about 200.The new cabinet is about half the size of that of the outgoing Congress government.000. was knighted in 1978. S. Recipient of the nation’s third highest civilian award Padma Bhushan in 1989 for his exemplary contribution to the Indian industry. president of the BJP and a key supporter of Modi's prime inisterial candidacy. and was named a National Treasure in 2012. The 64-year-old Mathur succeeds Sushma Singh as the sixth chief of the transparency watchdog. the flamboyant Mody unsuccessfully contested the Lok Sabha election from Jamshedpur in 1998 as an Independent. Mody was a leading member of the Tata Group and served it in various capacities. Arun Jaitley. Zeliang Odisha: Naveen Patnaik Sikkim: Pawan Kumar Chamling Nripendra Mishra Nripendra Mishar was appointed as principal secretary to Prime Minister Narendra Modi. 1997. 1960 and 1966 – the final time in a car of his own construction. a three-time Formula One world driver' champion and icon of world motorsport. He retired in 1970. He came second. Narsing Rao Coal India Chairman and MD S. former joint chairman of Air India and chief of erstwhile TISCO. while Rajnath Singh. will be home minister. will be joint finance and defence minister. has died at the age of 88. New Chief Ministers Arunachal Pradesh: Nabam Tuki Bihar: Jitan Ram Manjhi Gujarat: Anandiben Patel Nagaland: T. Rajiv Mathur Former Intelligence Bureau chief Rajiv Mathur was appointed the new chief information commissioner by President Pranab Mukherjee. died at 96. soon after the President. Sir Jack Brabham Sir Jack Brabham. the Hindu nationalist politician who won a landslide victory in India's general election. in a spectacular ceremony in Delhi.000 votes.R.

One of the organisers of the famous Kanyakumari march of 1989 that sought to protect Inida’s coastal ecology. ruling that she is guilty of violating the country's constitution for reassigning a senior security official in 2011. died on May 28. who has been mainly. Yingluck Shinawatra Thailand's Constitutional Court has dismissed caretaker Prime Minister Yingluck Shinawatra from office. he had mobilised the fishing community to fight the foreign industrial fishing fleets. Thomas Kochery. A crusader against coastal pollution. Thomas Kochery Catholic priest and trade union leader. died at 74. . associated with fight for fishermen rights over the past three decades. who is regarded as the "Father of Malaysian Hockey". started the Sultan Azlan Shah Cup hockey tournament in 1983. known for his colossal contribution to the sport for over 41 years—both as a player and an administrator. he spearheaded protests against the Kudankulam Nuclear Plant in Tamil Nadu and was a member of the Coastal Zone Management Authority of India.Sultan Azlan Shah The Sultan of Perak. Deputy PM and Commerce Minister Niwatthamrong Boonsongpaisan has been nominated by the cabinet as the next caretaker prime minister.

which is India's No 1 music broadcasting service with 9 million active monthly users and 6 million apps downloaded in about a year's time." Bennett Miller nabbed Best Director for "Foxcatcher." which settled for the Jury Prize. the world's largest-selling English broadsheet and the Economic Times. the media industry.AWARDS & HONOURS CANNES FILM FESTIVAL Nuri Bilge Ceylan's three-hour plus drama "Winter Sleep" won the Palme d'Or at the awards ceremony for the 2014 Cannes Film Festival. Winners of Gaana Awards 2013 are: Most Popular Hindi Album: Aashiqui 2 Most Popular Hindi Song: Tum Hi Ho (Aashiqui 2) Most Popular English Song: Exotic (Priyanka Chopra) Most Popular Singer (Female): Shreya Ghoshal Most Popular Singer (Male): Arijit Singh Fastest to First Song: Badtameez Dil (Yeh Jawaani Hai Deewani) Most Popular Tamil Song: Vaanganna Vanakkanganna Most Popular Kannada Song: Thangali INMA AWARD Ravi Dhariwal. has made sustained series of major contributions to endocrinology. an initiative by Times Internet. has been awarded the International News Media Association's (INMA) highest honour for volunteer service to. Lord Bhattacharyya. Isaac Newton and Charles Darwin as past fellows. Dhariwal introduced INMA to the South Asian continent and later became president of the global nonprofit organization. Rajesh Thakker. is a widely recognised figure in the area of engineering. the world's second largest financial daily.com. and lifetime achievement in. the CEO of BCCL.M." Julianne Moore won Best Actress for playing an actress in David Cronenberg's Hollywood satire "Maps to the Stars." FELLOWS OF ROYAL SOCIETY Two prominent Indian-origin academics—Lord Sushantha Bhattacharyya and Rajesh Thakker—are among 60 eminent scientists elected as 2014 Fellows of the Royal Society. which is the world's oldest scientific academy in continuous existence since 1660 with Albert Einstein." The film failed to win the Best Actor prize for Steve Carell's much-praised lead performance. W. Turner in Mike Leigh's "Mr. particularly parathyroid and renal disorders affecting calcium homeostasis. along with Jeal-Luc Godard's "Goodbye to Language. Instead the jury decided to award the prize to Timothy Spall for his turn as J. . who founded the Warwick Manufacturing Group in 1980 that has the Tata Group as one of its key partners. have been announced. The eight awards were determined on the basis of actual play-outs and user consumption across digital platforms on Gaana. which publishes The Times of India." The runner-up Grand Prix award went to Alice Rohrwacher's Italian-language film "The Wonders. who is the Professor of Medicine at the University of Oxford. Turner. The film beat out Xavier Dolan's hyped-about "Mommy. GAANA AWARDS The winners of the first ever Gaana Awards.

under whose leadership the group's revenues grew to around Rs 475. for “seizing every opportunity to reduce energy consumption in its existing buildings . a clockmaker and carpenter. National Florence Nightingale Awards President Pranab Mukherjee presented the National Florence Nightingale Awards to nursing personnel on the occasion of International Nurses Day at Rashtrapati Bhavan in New Delhi on May 12. The rapidly growing clean cookstoves business. Voters on the BBC's Horizon website will choose which 'problem' needed to be chosen. . Tata successfully guided one of India's oldest business empires through rough seas. It commonly appears on the Diplomatic Service and Overseas list but can also be given to Britons based abroad or in an honorary capacity to foreign nationals. The former chairman of Tata group . which was won by John Harrison. to painting roofs white so they reflect the heat”. The KBE is one of the highest honours given by the British queen to civilians. The award was instituted by The Hindu for the best original and unpublished English script.721 crore in 2011-12 from Rs 10. first instituted in 1714. referred to as the Green Oscars. The Ashden Clean Energy for Women and Girls Award also went to an Indian project. was worth £20. is the winner of The Hindu-MetroPlus Playwright Award 2014 for his entry. The prize.000 college scholarship. LONGITUDE PRIZE Three hundred years after the British government set up the greatest scientific challenge of the early eighteenth century—how to pinpoint a ship's location at sea by knowing its longitude—the Longitude Prize was revived on May 19 with a £10 million bounty. outclassing nine others including four Indian-origin contestants. a 13-year-old Indian-American student. In the Name of the Bully. Mumbai-based Greenway Grameen.International Ashden Awards India’s information technology major Infosys bagged the prestigious Ashden Award for Sustainable Buildings in London for its cutting-edge design of new buildings which helps keep offices cooler and maximises natural light. National Geographic Bee contest Akhil Rekulapelli.000 crore in 1991 retired on Dec 2012 after a 50-year run at the helm. The Bangalore-headquartered firm won the annual award. The Longitude Committee has now set up six challenges. Bangalore-based writer and theatre artiste.from reducing the size of chiller plants for air conditioning. won the prestigious National Geographic Bee contest that carries a USD 50. what would you do?" Metroplus Award Anshuman Acharya. voting for which will take place between May 22 and June 25.000. who solved the challenge by designing the chronometer. the first clock that allowed accurate navigation and led to safer sea travel that opened up global trade. co-founded by entrepreneurs Neha Juneja and Ankit Matthur. Knight Grand Cross of the Order of the British Empire Ratan Tata became the first Indian to be awarded the Knight Grand Cross of the Order of the British Empire (GBE) since India became a Republic in 1950. was recognised for its affordable cookstoves to improve the quality of life for Indian women. The question is: "If you had £10 million to make one change to the world.

000 Web experts and Internet professionals. The project. and won in the category "Promoting Whole of Government Approaches in the Information Age" for Asia Pacific. Jay Z and crowdfunding site Kickstarter are among the winners of this year’s Webby Awards. WEBBY AWARDS Google. the NASA website and satirical news site "The Onion" (which was also the academy’s pick in the humour category). Others include Beyoncé. Each Webby category is split in two: There’s an award from the academy and a “people’s voice” award for which anyone can cast an online vote. . The awards are presented by the International Academy of Digital Arts and Sciences. The first prize in the category was bagged by the Korean health and welfare information service. Tumblr.United Nations' Public Services Awards A union communications and IT ministry project on "mobile governance" has won the second prize at the prestigious United Nations' Public Services Awards. a celebration of Internet achievement that got its start nearly two decades ago. a group of about 1. A big winner in the latter category was Google with five wins. called "mobile seva" was launched by the Dept. of Electronics and Information Technology's (DeitY) in January 2012.

After the new airline has five aircraft in its fleet. India attracted 5. has finally got the licence from aviation regulator DGCA to operate in India.8 billion in the previous year.Business & Economy  Newly-launched airline AirAsia India. NSEL was in the midst of a default of around Rs. reported its biggest-ever quarterly loss of Rs. 2014 after the resignation of the Shreekant Javalgekar in October. The bank has 4.750 branches across India apart from presence in London. India’s second-largest domestic carrier by market share. 2.  The Insurance Regulatory and Development Authority in a recent meeting with executives of the life insurance companies has asked them to tie up with all insurance repositories to be able to offer electronic policies to customers after July. after the Indian government in 1953 nationalised Air India. a joint venture between Malaysia-based low-cost carrier AirAsia. MCX is the only commodity exchange in the country which is listed on a stock exchange. aided by plunging gold imports.  Hindustan Motors Ltd (HM) on May 24 announced that the production of the iconic Ambassador has been halted till further notice.85 billion from Mauritius. The electronic account will do away with the need for know your customer (KYC) norms including address and identity proof for every purchase and will bring in the benefits of demat including automatic reminders for premium.4 billion in 2013-14.7% of GDP or $87.  Canara Bank has entered South Africa by opening a branch in Johannesburg as a part of its global expansion plans. The commodity market regulator. The Naresh Goyal-led airline. Managing Director and Chief Executive Officer of Multi Commodity Exchange (MCX). whereas it was 4.154 crore against Rs.  Manoj Vaish. its licence will be automatically extended thereafter for another four years. This once again heralds the Tata Group into the aviation. resigned within three months of taking over reigns of the commodity exchange. pending regulatory approvals. 2013. 1. 496 crore a year ago.  Singapore has replaced Mauritius as the top source of foreign direct investment into India. Forward Markets Commission (FMC). Hong Kong.  Apple Inc and Google Inc's Motorola Mobility unit have agreed to settle all patent litigation between them over smartphones. It was promoted by the Jignesh Shah-led Financial Technologies India Ltd (FTIL). had asked the FTIL to reduce its stake in MCX from around 26 per cent to less than 2 per cent and FTIL was in the process of . ending one of the highest-profile lawsuits in technology.98 billion in FDI from Singapore.027 branches were added only last year across the country. also named Australian Cramer Ball as its new CEO. He took over as the MD and CEO of the Exchange on February 1. Shanghai.  Cooperative major IFFCO's board has elected Balvinder Singh Nakai as its new Chairman and N P Patel as the vice-chairman of the cooperative.  India's current account deficit (CAD)—a measure of the difference between dollar inflows and outflows—dropped sharply to 1. which has been without a full-time chief executive since January. from 4. The DGCA has granted the licence initially for a period of one year.  Jet Airways. and many cases were filed against its officials by the Economic Offences Wing (EOW) of the Mumbai Police. Tata Sons and Arun Bhatia of Telestra Tradeplace.7% of GDP or $32. which was initially set up by JRD Tata in 1932. accounting for about 25 per cent of FDI inflows in 2013-14.600 crore. During the last financial year. Bahrain and Moscow. Apple and Google have also agreed to work toqether in some areas of patent reform. which has also promoted the now-defunct National Spot Exchange Ltd (NSEL). 5.

PricewaterhouseCoopers (PwC).600 crore cheating case involving the National Spot Exchange Ltd (NSEL). and MCX CEO Sreekanth Javalgekar for their alleged role in the biggest payment default in the Indian commodity market. which was submitted to the BSE. India (FIU-IND) in May 2014.  The Reserve Bank of India (RBI) on May 7 directed that henceforth banks will not be permitted to charge foreclosure charges or pre-payment penalties on all floating rate term loans sanctioned to individual borrowers. prepared by the audit firm.diluting the stake.  The Securities and Exchange Board of India (SEBI) signed a memorandum of understanding (MoU) on mutual co-operation with Financial Intelligence Unit.  RBI asked banks not to levy penalties on customers who don't maintain a minimum balance in any inoperative account as part of a consumer protection initiative. The charges by some banks were as high as two per cent of the outstanding loans. 2013.  The Reserve Bank of India (RBI) on May 21 allowed star trading houses (STH) and premier trading houses (PTH) to import gold under the 20:80 scheme. which resulted in ‘conflict of interest’. This is as part of continued coordinated efforts in effective implementation of requirements of the Prevention of Money Laundering Act (PMLA) and the rules framed there-under.  The economic offences wing (EOW) of the Mumbai police. which Google used to design its Android smartphone operating system.  Oracle Corp won a legal victory against Google Inc as a U. arrested Jignesh Shah.S. an audit report on MCX. appeals court decided Oracle could copyright parts of the Java programming language. chairman of Financial Technologies (FTIL) group. . the overseas acquisition arm of flagship explorer Oil and Natural Gas Corporation. However.  Shasun Pharmaceuticals Ltd. acquired the global rights to develop and commercialise the 12-hour extended release analgesic tablets Ibuprofen from US-based Scolor Pharma along with those of pain killer Nuprin trademark for an undisclosed sum.  Government on May 21 recommended Narendra Kumar Verma as the head of ONGC Videsh Ltd. indicted FTIL on various instances of interference in the working of MCX by it. which is probing the Rs 5.  RBI will shortly issue bank notes of Rs. FTIL strongly denied these charges and called it as a “convenient report” and said that MCX had violated principle of natural justice by not sharing the report and by not allowing FTIL to provide its clarification on PwC findings. 1000 denomination in the Mahatma Gandhi series – 2005 bearing the signature of Governor Raghuram Rajan. RBI has also permitted banks to provide gold metal loans (GML) to domestic jewellery manufacturers out of the eligible domestic import quota to the extent of GML outstanding on their books as on March 31. According to the guidelines of the scheme.