ABBREVIATIONS SUUTI: Specified Undertaking of the Unit Trust of India.

DEFENCE Russia hands over N-submarine to India Russia has handed over the much-awaited nuclear-powered attack submarine Nerpa to India on a 10-year lease, boosting the Indian Navy's fire-power. The submarine, capable of remaining underwater for months, will be rechristened as INS Chakra and it would be for the first time in more than two decades that the Indian navy would have a nuclear attack submarine. India has now become only the sixth operator of nuclear submarines in the world.

PERSONS Anand, Dev Dev Anand, the leading actor, producer and director of Indian film industry, died on December 4, 2011 while on a visit to London. He was 88. He was born on September 26, 1923 as Dharam Dev Pishorimal Anand in Gurdaspur district of Punjab. He completed his English literature graduation from Government College Lahore. In 1946 he debuted as an actor in Hum Ek Hain. His first big break was Ziddi in 1948. His first colour film Guide is still hailed as a cinematic masterpiece. Dev Anand made his directorial debut in 1970 with Prem Pujari. In 1971, he directed and acted in the cult film Hare Rama Hare Krishna.

RESEARCH Prosthetic eye may help blind see Scientists have developed a new prosthetic device that sends images directly to the brain, a technology they say could be used to help blind humans in less than a decade. The device, which was developed by a team at the Weill Medical College of Cornell University and tested on animals, takes information from the outside world and decodes it into a pattern that the brain can read as an image. Neuroscientist Sheila Nirenberg , who led the research, explained that the key was converting the data into patterns of electrical activity for the brain to process. Patterns of pulses coming out of the eye tell the brain what is seen. With the blind person, the brain no longer gets the necessary visual

information from the eye. Her prosthetic, with its encoder and transducer, can send out signals that the brain can understand. Prof Nirenberg explained that if a person has a retinal disease, theres very little that can be done for them, with drug treatments only effective on a small number of sufferers. There are prosthetic devices, but they only allow patients to see simple images, mainly just outlines. But the new device is something that could make a difference. SPACE RESEARCH NASA discovers first Earth-sized planets beyond Solar system Astronomers have found a pair of Earth-sized planets orbiting a star similar to the sun, though neither is believed to be suitable for life, scientists on NASAs Kepler telescope team

said. The discovery follows confirmation of a superEarth sized planet, called Kepler-22b, which circles the right distance from its parent star for liquid water to exist on its surface. The newly discovered planets, called Kepler20e and 20f, have at least three gas-giant siblings, one of the larger planetary systems found to date. But the family is nothing like our solar system, where rocky worlds like Venus, Earth and Mars are grouped together closer in toward the sun while gas giants like Jupiter and Saturn are segregated in the outer regions. The two Earth-like and three Neptune-sized planets in the Kepler-20 family are interspersed

and all orbit closer to the parent star than our solar systems innermost planet, Mercury. Kepler-20e and 20f, which are believed to be too hot for liquid water, probably are not habitable, at least not today. The system is located about 1,000 light-years away in the constellation Lyra. Twin NASA spacecraft enter moon orbit Nearly three months after they were launched, the twin solar-powered NASA spacecraft entered Moon's orbit on December 31, 2011, in a mission designed to map the interior of the Earth's satellite. The washing-machine-sized Grail spacecraft short for Gravity Recovery and Interior Laboratorylaunched from the Florida coast in

September 2011, will map the Moons interior 100 to 1000 times more accurately than any past lunar mission. The precise lunar gravity measurements will help scientists understand better how the Moon evolved over the past 4 billion years. The findings also should help identify the composition of the Moon's core: whether it's made of solid iron or possibly titanium oxide. Another puzzle that Grail may help solve is whether Earth once had a smaller second moon. Astronomers have speculated that some of the landmarks on the Moons surface are a result of a collision with a second, smaller moon. The spacecraft will spend the next two months flying in formation and chasing one another around the Moon until they are about 35 miles

above the surface with an average separation of 124 miles. Data collection will begin in March. Past missions have tried to map lunar gravity with mixed success. Grail is the first mission dedicated to this goal. As the probes circle the moon, regional changes in the lunar gravity field will cause them to speed up or slow down. This in turn will change the distance between them. Radio signals transmitted by the spacecraft will measure the slight distance gaps, allowing researchers to map the underlying gravity field. Using the gravity information, scientists can deduce whats below or at the lunar surface such as mountains and craters and may help explain why the far side of the Moon is more rugged than the side that faces Earth.

ATIONAL AFFAIRS RBI unveils draft Basel III norms In order to strengthen risk management mechanism, the Reserve Bank has issued draft guideline envisaging that the equity capital of a bank should not be less than 5.5% of risk-weighted loans. Besides, it also recommends Tier 1 capital comprising pure equity and statutory and capital reserves must be at least 7% and total capital must be at least 9% of RWAs. RBI has also suggested setting up of the capital conservation buffer in the form of Common Equity of 2.5% of RWAs. It is proposed that the implementation period of minimum capital requirements and deductions from Common Equity will begin

INTERNATIONAL AFFAIRS North Korean leader Kim Jong-Il dead On December 19, 2011, North Korea announced the death of supreme leader Kim Jong Il and asked its people to rally behind his young son and heir-apparent, while the world watched for signs of instability in a nation pursuing nuclear weapons. South Korea launched a high alert for its military as it faces the Norths 1.2 millionstrong armed forces, while President Barack Obama and South Korean President Lee Myung-bak agreed to closely monitor the events and cooperate. People on the streets of the North Korean capital, Pyongyang, broke into tears as they

from January 1, 2013 and be fully implemented as on March 31, 2017. However, the capital conservation buffer requirement is proposed to be implemented between March 31,2014 and March 31,2017. The instruments which no longer qualify as regulatory capital instruments will be phased out during the period beginning from January 1, 2013 to March 31, 2022. The central bank has invited comments and feedback on the draft guidelines, including implementation schedule by February 15, 2012. Though the Indian banking sector was comfortably placed to implement Basel III regulations, some banks might need additional capital.

learned the news that their Dear Leader had died at the age 69 of heart failure. Kim Jong-Il had unveiled his third son Kim Jong-Un as his successor a year ago, putting him in high-ranking posts. However, little is known about the younger Kim. Kim JongUn regularly accompanied his father on trips around the country over the past year. Kim Jong-Il had inherited power after his father, revered North Korean founder Kim Il Sung, died in 1994. Canada becomes first country to pull out of Kyoto protocol On December 12, 2011, Canada became the first country to announce it would withdraw from the Kyoto protocol on climate change, dealing a symbolic blow to the already troubled global treaty.

Currently, RBI follows Basel II norms under which Tier I component is not only pure equity capital but Perpetual Noncumulative Preference Shares (PNCPS), Innovative Perpetual Debt Instruments and capital reserves. Banks are required to maintain a minimum Capital to Risk weighted Assets Ratio (CRAR) of 9% within which Tier 1 capital should be at least 6% of risk weighted assets. Under the existing capital adequacy guidelines based on Basel II framework, total regulatory capital is comprised of Tier 1 capital (core capital) and Tier 2 capital (supplementary capital). Lokpal Bill passed by Lok Sabha; Rajya Sabha leaves it in limbo Eleven hours after an often stormy debate,

Canada, a major energy producer which critics complain is becoming a climate renegade, has long complained Kyoto is unworkable precisely because it excludes so many significant emitters. The right-of-centre Conservative government of Prime Minister Stephen Harper, which has close ties to the energy sector, says Canada would be subject to penalties equivalent to $13.6 billion under the terms of the treaty for not cutting emissions by the required amount by 2012. Canada is the largest supplier of oil and natural gas to the United States and is keen to boost output of crude from Albertas oil sands, which requires large amounts of energy to extract.

the Lok Sabha passed the Lokpal & Lokayukta Bill, 2011 on December 27, 2011, after incorporating several amendments. But the UPA suffered a setback, and a major embarassment, when the government failed to muster two-thirds majority of the Members present and voting in the House, which turned down the proposal to confer Constitutional status to the Lokpal. The proposal to have the Lokpal as a Constitutional body, like the Election Commission or the Comptroller & Auditor General (CAG), was first mooted by Congress general secretary Rahul Gandhi. There was considerable confusion as the House dealt with the amendments clause by clause and as each amendment was put to

Canadas former Liberal government signed up to Kyoto, which dictated a cut in emissions to six per cent below 1990 levels by 2012. By 2009 emissions were 17 per cent above the 1990 levels, in part because of the expanding tar sands development. UN climate meet approves roadmap for 2015 deal On December 11, 2011, UN climate negotiators, who had gathered in Durban, South Africa, struck a compromise deal on a roadmap for an accord that will, for the first time, legally force all major carbon emitters to cut greenhouse gas emissions, ending days of wrangling between India and the EU over the fate of the Kyoto protocol. While the new pact to be finalised till 2015,

vote. The most important of them related to the government ceding ground to the opposition, and some of its allies, and providing for specific approval by State governments before notification of the Lokayukta. The government also agreed to remove the six-month ceiling on investigation and the provision which required the Chairman of the Rajya Sabha and the Speaker of the Lok Sabha to submit reports to the Lokpal. By yet another amendment, it was resolved to keep the defence forces out of the purview of the Lokpal. However, several amendments moved by the Opposition, including one to bring corporate bodies under the purview of the Lokpal, were rejected.

will, for the first time, bring India and China under the ambit of a legal mechanism guiding emission cuts, the accord will come into effect only from 2020. The pact on tackling climate change must be completed by 2015, and talks on the new legal deal covering all countries will begin next year, when Kyoto Protocol expires. Under the compromise, while India and China agreed to bring themselves under a governing treaty, the developed nations agreed to a second commitment period under Kyoto Protocol, putting to rest concerns that they would walk away from commitments once the 1997 treaty expires in 2012. Kyoto Protocol remains the only legally

The Opposition parties, and also some UPA constituents, criticised the provision for reservation in the Lokpal and called upon the government to ensure that the Bill does not force the States to adopt and enforce a Lokayukta Act on the lines of the Lokpal Bill. The government argued that the States had the option of improving upon the Act and that the Central Act would just be an enabling Act. On December 29, however, the Parliament lost the historic opportunity to enact the Lok Pal law when an embarrassed government was forced to beat a hasty retreat in the Rajya Sabha, lacking the numbers to push through the Lokpal and Lokayukta Bill. A total of 185 amendments were moved by different parties and what

binding treaty for cutting greenhouse gas emissions, and India had batted hard for its revival at the 194-party conference. Kyoto Protocol sets binding targets for 37 industrialised nations and the EU to slash carbon emissions to 5 per cent below the 1990 levels by 2012. Up to now, China and India have been exempt from any constraints because they are developing countries, while the US had opted out of the Kyoto Protocol. The final text of the Durban conference said parties would develop a protocol, another legal instrument or an agreed outcome with legal force. The compromise averted the use of legally-binding.

weighed in the minds of UPA managers was that if the amendments were carried the legislation then would have to go back to the Lok Sabha. If the Lower House was to reject the amendments, it would have necessitated a joint session of the Parliament. Whistleblowers Protection Bill On December 27, 2011, Lok Sabha passed the Whistleblowers Protection Bill which seeks to provide for setting up a regular mechanism to encourage persons to disclose information on corruption or wilful misuse of power by public servants, including ministers. The Bill also seeks to provide adequate protection to persons reporting corruption or wilful misuse of discretion that causes

Describing the agreement reached at the climate talks in Durban as significant, UN chief Ban Ki-Moon said it represents an important advance in the work on tackling global warming and sought its quick implementation. Apart from the roadmap for a new deal, the meet agreed to the management of a fund for climate aid to poor countries, though how to raise the money was not specified. Under the agreement, EU will place its current emission-cutting pledges inside the legally-binding Kyoto Protocol. West signals enduring support for Afghanistan at Bonn Conference On December 5, 2011, the United States and other nations vowed to keep supporting

demonstrable loss to the government or commission of a criminal offence by a public servant. While the measure sets out the procedure to inquire into the disclosures and provides adequate safeguards against victimisation of whistleblowers, it also seeks to provide punishment for false or frivolous complaints. A major amendment cleared by the Union Cabinet is the inclusion of ministers, MPs, defence services, intelligence agencies, bank officials and PSUs under the ambit of the Bill. The Special Protection Group (SPG) has been kept out of the ambit of the Bill. The definition of disclosure has also been amended to include wilful misuse of power or wilful misuse of discretion that leads to

Afghanistan after most foreign forces leave the country in 2014, as the nation faces an enduring Taliban-led insurgency and possible financial collapse. The international community has much to lose if the country again becomes a source of terrorism and instability, US Secretary of State Hillary Rodham Clinton said. Clinton stressed that in return for continued support the Afghans must live up to their commitments on taking difficult decisions to embrace reform, lead in their own defence and strengthen an inclusive democracy rooted in the rule of law. About 100 countries and international organisations were represented among the 1,000 conference delegates, including some

demonstrable loss to the government or demonstrable gain to the public servant or any third party. The definition of competent authority to which a complaint can be made has also been expanded. For complaint against a Union Minister, the competent authority is the Prime Minister and for MPs, its the LS Speaker. Citizens Charter Bill The Citizens Charter Bill, called the Right of Citizens for Time-bound Delivery of Goods and Services and Redressal of their Grievances Bill, 2011, was introduced in the Lok Sabha on December 20, 2011. It envisages the Right to Service under which every individual citizen shall have

60 foreign ministers. Afghanistan is economically dependent on foreign aid and spending related to the huge military presence, currently totalling about 130,000 international troops. The country seeks assurance that donor nations will help fill the gap after most forces leave by 2015. Afghanistan estimates it will need outside contributions of roughly USD 10 billion in 2015, or slightly less than half the countrys annual gross national product, mostly to pay for its security forces, then slated to number about 350,000. The conferences final declaration outlined a series of mutual commitments for the decade following the troop withdrawal, strongly conveying that Afghanistan will

the right to time-bound delivery of goods and provision of services and redress of grievances. It also provides for publication of the Citizens Charter and Grievances Redressal Officer by Public Authorities whereby: Every public authority shall publish, within six months of the commencement of this Act, a Citizens Charter specifying therein all the category of goods supplied and services rendered by it, the time within which such goods shall be supplied or services rendered. The details of all the goods supplied and services rendered by the public authority and the name of person or agency through which such goods are supplied or services rendered and timings during which such goods are supplied or services rendered.

not be left alone. The Bonn conference was focused on the transfer of security responsibilities from international forces to Afghan security forces during the next three years, long-term prospects for international aid and a possible political settlement with the Taliban to ensure the countrys viability beyond 2014.

DO YOU KNOW
On December 20, 2011, four physically challenged professionals completed their wheelchair-bound trip spanning 28 State capitals, after logging an impressive 19,000 km in 84 days. The effort was christened Beyond

The conditions under which a person becomes entitled to goods or services and the class of persons who are entitled to receive such goods and avail services. The complaints redress mechanism, including the time within which the complaint should be disposed of and the officer of the public authority to whom such complaint may be made. The names and addresses of individuals responsible for the delivery of goods or rendering of services. Union Cabinet clears Food Bill Brushing aside fears of food scarcity and inflation, the Union Cabinet, on December 18, 2011, cleared the much-awaited National Food Security Bill, taking the Manmohan Singh government a step closer to fulfilling the promise made to the Aam

BarriersIncredible India Tour and was brain-child of Arvind Prabhoo, 44, who is a quadriplegic since 23 years. He was accompanied by Nishant Khade, Neenu Kevlani and Sunita Sancheti. The inter-city travel was done on SUVs and the group moved in their wheelchairs within every State capital and tourist destination en-route. Comic legend Stan Lee, the driving force behind some of the worlds popular comic book heroes like Superman, X-Men etc, has collaborated with Indian artists and writers to create Indian super-hero Chakra-The Invincible, that will be distributed in India by Liquid Comics in April 2012.

Admi in the Congress manifesto for the 2009 Lok Sabha election. Under the proposed landmark law, the government would provide rice at Rs 3 per kg and wheat at Rs 2 per kg to all people living below the poverty line (BPL) across the country. The law is aimed at providing access to food to 75 per cent of the rural population and 50 per cent of the urban households by subsidising foodgrains sold to them. Under the proposal, coarse grains would be made available to them at Re 1 per kg. In all, 63.5 per cent of the countrys population would be legally entitled to subsidised foodgrains under the scheme.

Himayat (support) is the first of its kind programme (sponsored by the Central government) to be launched in J&K. It envisages skill development of the youth, their placement linked with development of the State and the public-private partnership. The Time magazine has declared The Protestor as the magazines 2011 Person of the Year. Time defines the Person of the Year as someone who, for better or for worse, influences the events of the year. Delhi celebrated 100 years of reemergence as the capital of India on December 12, 2011. It had been proclaimed as capital of British Raj on

The subsidy would involve Rs 3.5 lakh croreRs 1.1 lakh crore for the agriculture sector and Rs 95,000 crore for the poor people covered under the scheme. About 2.25 crore pregnant women and lactating mothers are also expected to benefit from the legislation that proposes to give Rs 1,000 per month for six months as maternity benefit. Maternity benefits that are available only in 52 districts will be extended across the country. Aiming to empower women, the Bill also proposes that the ration card will be issued to the eldest female member of the family. There is a provision of meals to special group such as destitute, homeless, person living in starvation and disaster affected

December 12, 1911, shifting from Kolkata, by then Emperor of India George V. The foundation of the British capital was laid by architect Edwin Luytens who laid out the central administrative area, Rashtrapati Bhawan, four bungalows inside the Presidents Estate, India Gate and the Hyderabad and Baroda palaces at India Gate. The Prime Ministers office and the impressive North and South Blocks were designed by Herbert Baker. Indias ranking in transparency internationals corruption perception index has slipped to a low 95 among 183 countries. ITC Hotels has been honoured with

persons. The proposed Bill also holds great promises for children. Children in the lower and upper primary classes would be entitled to mid-day meals as per the prescribed nutritional norms. Fears have been expressed that the new Bill, as and when enacted, will fuel both shortages and inflation. The fears are not misplaced because in August 2011, the foodgrain stock with the government was 61.27 million tonnes, short of what will be required to implement the scheme. The annual procurement of foodgrains by the government stands at 54 million tonnes and will have to be raised to at least 62 million tonnes, if the scheme is to be implemented.

Best Employer National Award for empowerment of persons with disabilities. The award is given by the Union Ministry of Social Justice. According to a report by Organization for Economic Cooperation and Development, inequality in earnings has doubled in India over the last two decades, making it the worst performer on this count among all emerging economies. The top 10% wage earners now make 12 times more than the bottom 10%, up from the ration of six in 1990s. Indias refining capacity, which is 194 million tonnes per annum now, is set to increase to 238 million tonnes by 2013.

The scheme was also opposed by several States, which apprehend food scarcity and higher food inflation as and when the Bill becomes the law. They had also objected to the discrepancy between the proposed central scheme and the existing Antyodaya Anna Yojana (AAA) under which the poor are entitled to 35 kg rice at Rs 2 per kg. The Centre sought to go round the issue by raising the entitlement of everyone to 35 kg under the new, legal entitlement. Indias infant mortality rate down Child survival strategies are beginning to pay dividends with India, for the first time ever, reporting a consecutive drop of three points in Infant Mortality Rate (IMR) for the second year in a row. The countrys latest IMR is 47 as against 50

India currently has surplus oil refining capacity, with fuel demand pegged at 141.785 million tonnes in 2010-11.

Business News
India is set to emerge as the global development and manufacturing hub for Swedish bus maker Volvo Bus Corporations Asia range over the next four years. Power and Productivity for a better world is the tag line of ABB, which is providing the technology that will enable the Dutch-German transmission system operator, TenneT, to link the worlds

in 2009, indicating a reduced mortality of three infants per 1000 live births. If this rate of drop is sustained, India could achieve the target of bringing down infant deaths to 30 by 2015, as planned. The highlights of 2010 Sample Registration System (SRS) data, released by the Registrar General of India, is: greater reduction in rural IMR (four points) as against urban IMR (3 points); massive improvements in problem States, with Himachal Pradesh and Madhya Pradesh leading the national IMR declines by reporting the highest reduction of 5 points each in IMR in the respective States. Overall, rural IMR came down from 55 to 51 while urban IMR dropped from 34 to 31, nationally.

most remote offshore wind farm to the German power grid at minimal impact to the environment. The 400-megawatt (MW) wind farm, located 130 kilometres from the coast in the North Sea, is expected to save carbon dioxide emissions of 1.5 million tons per year by avoiding the need for additional fossilfuel generation. ABB is connecting the park the most remote wind farm in the world using high-voltage direct current (HVDC) transmission technology. Although HVDC has been available for more than 50 years, ABBs development of the technology to produce the related HVDC Light about 10 years ago provided the technological means to build wind parks far from the coast.

The heartening news is that almost all States managed to report IMR reductions, particularly in rural IMR, indicating better delivery of child related health services in villages. Nine States reported a 4 point drop in IMR. These include Bihar, Odisha, Punjab, Tripura, Rajasthan, Tamil Nadu, Meghalaya and Sikkim. Andhra, Assam, Chhattisgarh, Haryana, Karnataka, Maharashtra, Delhi, Nagaland, Uttrakhand and Chandigarh saw a decline of 3 points in IMR between 2009 and 2010. Jharkhand, UP, West Bengal, Jammu and Kashmir, Manipur and Andaman and Nicobar Islands fared the worst nationally,

Know more. No Less is the tag line of Business Standard newspaper.

with only 2 point drop in infant death rates. In Lakshadweep and Puducherry the IMR remained unchanged. Visit of Prime Minister of Japan Prime Minister of Japan, Yoshihiko Noda visited India on December 28, 2011. He held wide-ranging talks with Prime Minister Manmohan Singh on bilateral issues as well as international developments. In a significant departure from its longstanding policy, Japan today said it was not insisting on India signing the CTBT as a prerequisite for nuclear cooperation between the two countries and indicated it was open to hold talks with New Delhi on exporting military technology to India. The prospects of reviving civil nuclear

cooperation figured prominently in talks between the two PMs. A joint communiqu issued at the end of talks said the two PMs decided to enhance the earlier bilateral currency swap arrangement from $ 3 to 15 billion. They hoped that this enhancement would further strengthen financial cooperation, contribute to ensuring financial market stability and further develop growing economic and trade ties between the two countries. Manmohan Singh said the two countries have also begun negotiations on a social security agreement, and would hold the first ministerial level economic dialogue in 2012. India and Japan have already held three

round of civil nuclear negotiations, but the talks stalled after the March 11, 2011, Fukushima radiation disaster, fuelling security concerns in that country. Prime Minister Manmohan Singhs visit to Russia India and Russia signed a slew of agreements in the fields of military, energy and trade during Prime Minister Manmohan Singhs three-day visit to Moscow from December 15, 2011. His visit came in the midst of a political unrest in Russia over allegations of rigging in the recent Parliamentary elections. The Russian leadership was keen to go ahead with the visit for the annual India-Russia Summit lest its postponement sends wrong signals to the world.

New Delhi and Moscow discussed ongoing defence projects such as the leasing of the Russia nuclear-powered submarine to Indian Navy for 10 years beginning 2012, joint development of the fifth-generation fighter aircraft and multi-role transport aircraft, and refit of the Admiral Gorshkov aircraft carrier that is to be delivered to Indian Navy in December 2012. The two countries also finalised means to achieve the target of $20 billion annual bilateral trade, which now hovers at $10 billion, before 2015. UPA government approves 4.5% minorities quota within OBC pie With an eye on the coming Assembly polls in Uttar Pradesh, Punjab and three other

States, the UPA regime, on December 22, 2011, approved 4.5 per cent reservation for the minorities within the 27 per cent quota for Other Backward Classes (OBCs) in government jobs and educational institutions. The move is expected to benefit the students belonging to the minority communities in getting admission in top institutions, like the IITs, IIMs and AIIMS. The castes/communities of the minorities, which are included in the central list of OBCs notified State-wise from time to time by the Ministry of Social Justice and Empowerment would be covered under this sub-quota. The suggestions for reservation for the minorities had been made by the National Commission for Religious and

Linguistic Minorities.