DAILY GK UPDATE 18th June 2014

1.    SEBI issues new norms for public issuance of debt securities

i. Market regulator SEBI has issued new norms for public issuance of debt securities under which such offers have to be of minimum Rs 100 crore, while issuers would need to make additional disclosures and attain atleast 75 per cent subscription. 

ii. The Securities and Exchange Board of India (Sebi) said that the entities coming out with public issue of NCDs would have to provide granular disclosures in their offer document, with regards to the "object of the issue".

iii. Also, an entity has to make additional disclosures in the offer document about details of money utilised from the previous issues of the issuer as well as the group companies. 
iv. The new norms would be applicable for the draft offer document for issuance of debt securities filed with the stock exchanges on or after July 16.

2.    Subhalakshmi Panse joins Federal Bank board

i. Subhalakshmi Panse, former CMD of Allahabad Bank, has joined the board of Federal Bank as an Independent Director.

ii. Panse had earlier served as Executive Director of Vijaya Bank for two-and-a-half years, overseeing all major portfolios of that bank.

iii. A post-graduate in Science, Panse has a Diploma in Business Management and Masters in Management Sciences from Pune University. She also holds an MBA from Drexel University, USA.

Note: Panse was a member of the RBI appointed committee on Corporate Governance and Chairman of the IBA committee on Cheque Truncation System - National Archive. At present, she is the Chairman of the Quality Review Board of the Indian Institute of Actuaries.

3.    Mobile money services to soon come within common man's reach

i. Mobile money services are set to become popular among the aam admi (common man) with NPCI signing agreements with seven telecom companies, A.P.Hota, Managing Director & CEO, NPCI.

ii. The seven telecom companies that have signed agreements with NPCI are Airtel, Idea, Tata Communications, Aircel, Uninor, Videocon and Quadrant.

iii. National Payments Corporation of India (NPCI) has convinced these seven telecom companies to provide access to their unstructured supplementary service data (USSD) channel to all bank accounts, Hota said.

iv. NPCI is the umbrella organisation of all retail payment systems in India,

4.    Facebook releases messaging app Slingshot

i. Social media giant Facebook announced the release on Tuesday of its latest messaging app Slingshot.

ii. Slingshot lets users share selfies and other short-lived videos and pictures, but friends have to share something before they are able to see images from others, according to the announcement.

iii. Slingshot is an attempt to take users away from the popular messaging app Snapchat.

5.    Flipkart signs MoU to help MSMEs scale their business

i. Online marketplace Flipkart on Wednesday has signed a memorandum of understanding with Federation of Indian Micro and Small and Medium Enterprises (FISME) and National Center for Design and Product Development (NCDPD) to boost manufacturing and entrepreneurship in the country.

ii. As per the MoU, Flipkart will provide micro, small and medium entrepreneurs in infrastructural support in data analytics, marketing and customer acquisition to help them scale their business.

iii. This is one of its kinds that such a prominent three organisations have come together to create a platform to focus on the betterment of Indian manufacturers and artisans.

6.    India’s first One Stop Crisis Centre named Gauravi launched in Bhopal

i. India’s first One Stop Crisis Centre (OSCC) named Gauravi was launched in Bhopal, Madhya Pradesh on 16 June 2014. It was launched by the Bollywood actor Amir Khan.

ii. The centre is first of its kind in India for women who are victims of violence. It will provide help and assistance to rape survivors and victims of dowry harassment, domestic violence and other atrocities on women, all under one roof.

Note: The OSCC will provide legal advice, medical aid and police assistance. Victims can call the helpline number or visit the facility centre for the assistance. It will also provide assistance in filing FIRs, providing security, rehabilitation of the victim and forensic support.

7.    India won 12 medals to finish 5th at 16th Asian Junior Athletics Championship

i. India won 12 medals overall to finish 5th in final medal tally at the 16th Asian Junior Athletics Championship held in Taipei City, China from 12 June to 15 June 2014. India’s medal tally of 12 medals included 2 Gold, 5 Silver and 5 Bronze.

ii. China topped the list with 24 medals comprising of 12 Gold, 10 Silver and 2 Bronze. Japan won 21 medals (11 Gold, 5 Silver and 5 Bronze) to finish second. Qatar was in the third place with total of 10 medals (6 Gold, 2 Silver and Bronze).

8.    Binny’s record 6/4 helps India clinch ODI series 

i. Medium-pacer Stuart Binny bagged six wickets as India registered an unexpected 47-runs win against Bangladesh via Duckworth-Lewis method in the rain-curtailed second One-day International at the Shere Bangla National Stadium in Mirpur on Tuesday to take an unassailable 2-0 lead in the three-match series.

ii. Sent into bat, Indian batsmen produced a below-par performance to be bowled out for a paltry 105 runs in rain-truncated 41 overs-a-side game.
iii. But the pace combination of Binny (6-4) and Mohit Sharma (4-22) saved India from humiliation as they bundled out Bangladesh for a record 58 runs in 17.4 overs to help the visitors defend their lowest score against the hosts.

India: 105 all out in 25.3 overs (Suresh Raina 27; Taskin Ahmed 5/28).
Bangladesh: 58 all out in 17.4 overs (Mithun Ali 26; Stuart Binny 6/4, Mohit Sharma 4/22). 

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