1. Nawaz Sharif: The Lion of Punjab roars in Pakistan
i. Nawaz Sharif, known as the 'Lion of Punjab' who has
promised to restart peace process with India and is set to be elected for a third
innings as Pakistan Prime Minister.
ii. Pakistan is yet to officially declare Nawaz Sharif's
Pakistan Muslim League (PML-N) victorious in the country's general elections,
but the man set to be the new Prime Minister and India's Manmohan Singh already
seem keen to move forward on the dialogue process.
iii. Even as the PML-N looked set to emerge as the
single-largest party in the national assembly, Mr Sharif said, "We have to
restart our journey (from 1999). So whether India
invites me or not, I will visit India."
iv. A steel tycoon cum politician, Mr Sharif has made an
astounding comeback after being
toppled in a 1999
coup, jailed and exiled to spend seven years in wilderness.
v. While votes from Saturday's historic general
elections were still being counted, Mr Sharif claimed victory at the
headquarters of his centre-right Pakistan Muslim League-N (PML-N).
vi. He managed to swim through
cricketer-turned-politician Imran Khan's "tsunami" as his Pakistan
Tehreek-e-Insaf (PTI) had a projected win of only 34 seats.
vii. The 63-year-old has promised to transform the
country's economy, end corruption in state-owned enterprises, build a motorway
from Lahore to Karachi and launch a bullet train.
2. Will be 'very happy' if India PM attends swearing-in:
Sharif
i. Pakistan's
incoming prime minister Nawaz Sharif said on Monday that he would be "very
happy" to invite India's
Manmohan Singh to his swearing-in ceremony. "I will be very happy to
extend that invitation.
ii. "I had a call from him yesterday. We had a long
chat on the phone and then he extended an invitation to me and I extended an
invitation to him.
iii. "We will be very happy to invite him, whether
he will come or not is a different issue but I hope that he will visit Pakistan soon," Sharif added at the
family's sprawling estate, just outside the eastern city of Lahore
iv. India's
premier on Sunday congratulated Sharif on his victory in Pakistan's
landmark elections on Saturday and expressed the hope for better relations.
v. Manmohan Singh said he hoped to work with Sharif to
chart "a new course" between the countries and invited him to
"visit India
at a mutually convenient time".
vi. Relations between the two countries have been
fractious in recent weeks, with both sides protesting at the deaths of
prisoners held by the other's government.
3 .
Retail Inflation declined to 9.39
Percent in April 2013
i. Retail inflation declined
to 9.39 per cent in April because of reduction in prices of vegetables, edible
oil and protein-based items as per the data released on 13 May 2013.
ii. Retail inflation which is based on
the Consumer Price Index (CPI) stood at 10.39 per cent in March 2013.
iii. The prices in the vegetables
basket reduced to 5.43 per cent in April 2013 from 12.16 per cent in March
2013. Inflation in egg, meat and fish was registered at 13.60 per cent during
April 2013.
iv. In oils and fats segment, inflation
stood at 7.52 per cent.
v.
Among all the
constituents that constitute the CPI, cereals saw the highest inflation of
16.65 per cent in April 2013.
vi.
In urban areas,
retail inflation fell to 9.73 per cent in April 2013 from 10.38 per cent in
March 2013. The CPI for rural population declined to 9.16 per cent during April
2013 from 10.33 per cent in March 2013.
4. K.Siddaramaiah sworn-in as K'taka CM
i.
K. Siddaramaiah,
who led the Congress party to victory in the Assembly elections in Karnataka
was sworn in as the 22nd Chief Minister on Monday.
ii.
He was sworn in by
Governor H R Bhardwaj at a ceremony at Sri Kanteerava Stadium inBangalore.
iii. Siddaramaiah was elected as the
leader of Congress Legislature Party, at the meeting of the newly elected MLAs
in Bangalore on
Friday
5. RBI gears up for plastic notes as
20% paper bills get soiled
i.
As the Reserve Bank
gears up for a trial of plastic currency notes, it has to dispose of soiled
paper currency bills worth an estimated amount of over Rs two lakh crore a
year.
ii.
On an average, one
out of five paper notes in circulation (over 20 percent) gets disposed of every
year after getting soiled and the number of such soiled currency bills stood at
over 13 billion units during the fiscal ended 31st March 2012, as per the latest data
available with RBI.
iii. The figures are not yet available
for the last fiscal 2012-13, but the number of soiled currency notes has
remained above 13 billion for at least three financial years.
iv. As per the RBI data, the total value
of all currency notes in circulation stood at over Rs 10.5 lakh crore at the
end of financial year 2011-12.
v. However, soiled notes valued at an
estimated amount of Rs 2.05 lakh crore had to be moved out of circulation by
RBI during that fiscal.
vi. RBI Governor D Subbarao had said that the central bank is trying to
introduce plastic currency, as they have longer shelf life.
vii. In India, the RBI is
planning to introduce one billion pieces of Rs 10 notes in polymer or plastic
on a trial basis in Kochi, Mysore, Jaipur, Bhubaneswar and Shimla, although a
timeline is yet to be decided.
6. RBI’s projected 5.7% GDP growth for 2013-14
i. The RBI’s has projected a GDP growth for 2013-14 at
5.7% as against finance ministry’s projection of 6.1%- 6.7%.
ii. Indian economy grew by 5% in 2012-2013 on account of
poor performance of manufacturing, agriculture and services sector.
iii. RBI’s current assessment is that economic activity
will remain subdued and will only show a modest pick-up in second half of
2013-14, subject to appropriate conditions in the later part of year.
7. NABARD inaugurated first Farmers’Club in kargil
Kargil got
its first Farmers’Club, as NABARD inaugurated Trespone Farmer’s
Club at Trespone TSG Block in the district.
What is
Farmers’ Club (FCs) ?
i. Farmers’ Clubs (FCs) are grassroot level informal
forums of farmers.
ii. Such Clubs are organized by rural branches of banks
with the support and financial assistance of NABARD for the mutual benefit of
the banks concerned and the village farming community/rural people.
iii. With the enhancement of the programme, other agencies
like NGO, VAs, KVKs, SAUs etc. are also now included as agencies included in
the formation and promotions of FCs.
NOTE: i. The Farmers’ Clubs programme which was earlier known
as “Vikas Volunteer Vahini (VVV) Programme” was launched by
NABARD in 1982.
ii. The programme was directed towards development
in rural areas through credit, technology transfer, awareness and capacity
building.
iii. The “VVV Programme” was
renamed as “Farmers’ Club Programme” in 2005 by revisiting
its earlier mission.
How a bank is
benefitted by opening FCs?
FCs concept is a win-win situation for both the banker and the borrower.
As per a study, the following benefits were accrued to a bank branch operating
FCs:
i. Increase in deposits.
ii. Increase in the credit
flow and diversification of lending.
iii. Increase in the recoveries
and decline in the non-performing assets.
iv. Reduction in the
transaction costs of financial institutions/ Banks.
v. Socio economic development
of the village.
8.
National Stock Exchange(NSE) launched
Debt Trading Platform
i. National Stock
Exchange, the Leading bourse on 11 May 2013 launched the country’s first
dedicated debt trading platform.
ii. The new Platform launched is
awaiting the market regulator SEBI’s guidelines for allowing participation of
mutual funds, insurance companies and pension funds.
iii. NSE had recently received approval
from SEBI to launch the debt segment.
Function of the Debt Trading Platform
i. The
debt trading platform is supposed to provide retail investors an opportunity to
invest in corporate bonds on a liquid and transparent exchange platform.
ii. Banks and primary dealers are the
first to enter and they will provide enough liquidity in the debt segment.
iii. he mutual funds, insurance
companies and pension funds are also expected to participate after guidelines
for the same are issued.
NOTE: The Debt Trading exchange platform
is an innovation, which has been launched after intensive feedback from market
participants. It is similar to RBI’s NDS-OM, where Government securities are
traded on a transparent platform
9. Gold coins
bearing Sachin's face, signature launched
i. A limited edition Sachin Tendulkar gold coins,
with the senior cricketer's face and signature embossed on them, were launched
today on the auspicious day of 'Akshaya Tritiya'.
ii. Valuemart Gold and Jewels
launched one lakh Sachin Tendulkar gold coins, each weighing 10 grams
iii. The 24 karat gold coin is priced at Rs. 34,000 and will be available onvaluemartgold.com and leading jewellery stores across
the country.
iv. The company had signed up Tendulkar as its brand ambassador
for a three-year period in February this year.
10. Lalu
Prasad hires 13 trains for his Patna
rally
i. Indian Railways got a boost to its business, thanks
to former railway minister Lalu Prasad, whose party Rashtriya Janata Dal, has
hired 13 special trains to ferry workers and supporters to Patna for his Parivartan in Patna on May 15.
ii. Over the past week, the Rashtriya Janata Dal (RJD)
chief and his top party leaders have been busy mobilising supporters to reach Patna for the rally by
the special trains.
iii. "Please, come with sattu, litti-chokha,
chura and gur, (all edible things) to the Parivartan (change) Rally in Patna.
iv. We will arrange free drinking water for all of
you," Lalu Prasad has been appealing, in chaste Hindi, and sometimes in
Bhojpuri and other local dialects.
v."RJD is paying Indian Railways for booking the special
trains," RJD senior leader Ram Kirpal Yadav, considered close to Lalu
Yadav, said. "The railways will earn a hefty amount for running the
trains. It is not free of cost."
NOTE: When Lalu was railway minister in 2007, the RJD
booked 35 trains for his Chetawani (warning) Rally in Patna.
11. Moyes to replace Ferguson
as ManU boss
i.
Manchester
United handed David Moyes one of the most coveted and toughest jobs in world football - replacing
Alex Ferguson as manager of the 20-time English champions.
ii.
The 50 year-old
Moyes is leaving Everton to replace Ferguson,
who announced yesterday that he is retiring after nearly 27 years at Old
Trafford.
iii. United said Moyes was given a
six-year deal and will take charge of the newly crowned Premier League
champions from 1st July.
iv. Moyes is replacing the most
successful manager in British football history, with Ferguson producing 13 of United's 20 English
titles and a string of other titles, including three European Cups.
12. Serena & Nadal wins Madrid Open
i.
Serena Williams
retained her Madrid Open title on Sunday with a devastating display to beat
world number two Maria Sharapova 6-1, 6-4.
ii.
The title is
Williams' 50th of her singles career and extends her amazing run over Sharapova
who she hasn't lost to in 12 meetings since 2004.
iii. In the Men's Singles
title clash of the Madrid Open World Number Five Nadal defeated Swiss
Stanislas Wawrinka, in straight sets, 6-2, 6-4.
iv. Spain's Rafael Nadal has clinched
his fifth title in seven tournaments since returning from a seven-month
knee injury layoff.
13. Rajasthan Royal beat CSK by 5 wickets
i.
Rajasthan Royals
beat Chennai Super Kings by five wickets in their IPL match which was held in
Jaipur on Sunday.
ii.
Chasing 142 for a
win, Rajasthan lost three wickets -- Ajinkya Rahane (9), James Faulkner (1) and
Sanju Samson (0) -- inside five overs before Watson played a blistering knock
of 70 from just 34 balls with the help of six fours and as many sixes to end
the match in dramatic fashion with 17 balls to spare.
iii. Stuart Binny, who chipped in with a
23-ball unbeaten 41, ended the match in style with a six off Ravindra Jadeja as
Rajasthan reached 144 for five in 17.1 overs.
iv. Rajasthan also kept
intact their unbeaten record at home this season. They ended their home matches
on Sunday with an all-win record, the first team to do so this season.
14. Barcelona win Spanish title for 22nd time
i.
Barcelona's fourth La Liga title in five
seasons - and the 22nd of their history - was confirmed after Real Madrid could
only manage a 1-1 draw with Espanyol.
ii.
Espanyol took
advantage of Jose Mourinho resting a host of first team players in the first
half ahead of Real's Copa del Rey final with Atletico Madrid on Friday.
iii. However, after the introduction of
Cristiano Ronaldo in the second-half, Madrid
rallied and were level when Gonzalo Higuain flicked home Luka Modric's
free-kick just before the hour mark.
15. Alonso thrills Spain with stylish win
i.
Two-time champion
Fernando Alonso thrilled a massive 95,000 flag-waving home crowd on Sunday
when he drove his Ferrari to a dominant victory at the Spanish Grand Prix.
ii.
It was the
Spaniard's second win of the season, in five races, and the 32nd win of his
career - a triumph that endorsed his challenge for a third drivers' title on an
afternoon of Spanish supremacy at the Circuit de Catalunya.
iii. Driving with great aplomb, Alonso
delivered a beautifully-judged performance to win a tactical contest dominated
by tyre-wear management, finishing 9.338 seconds ahead of second placed Finn
Kimi Raikkonen of Lotus.
iv. Alonso's Ferrari team-mate
Brazilian Felipe Massa started from ninth, but finished
third ahead of defending triple world champion Sebastian Vettel and his Red
Bull team-mate Mark Webber.