Aug 2009

World Badminton Championship running in Hyderabad
India signs FTA with ASEAN
The agreement was signed by commerce and industry minister Anand Sharma and economic ministers of ASEAN in Bangkok. India on Thursday signed a Free Trade Agreement (FTA) with the 10-member Association of South East Asian Nation (ASEAN) bloc that would eventually eliminate duty on 80% of the goods traded at present. Both sides have set an ambitious target of achieving an increase of $10 billion worth of trade in first year after the agreement comes into force from January 2010. India’s current bilateral trade with the ASEAN bloc is worth $40 billion.






THE NEW TAX BENEFIT WILL BE APPLY IN APRIL 2011.

For taxpayers earning Rs 5 lakh to Rs 25 lakh, who will enjoy net tax saving of 10% to 20%

For agriculture income earners, who have been assured of continued tax exemption

For all companies & individuals/HUFs having wealth of less than Rs 50 crore proposed to be exempted from wealth tax

For investors, who will continue to enjoy exemption if capital gains are invested in new house BAD

For investors currently earning exempt long term & concessional short term market gains, now required to pay tax at regular rates

For salaried taxpayers losing LTC, medical & leave encashment exemptions

For taxpayers being required to pay wealth tax on all assets, including hitherto exempt financial assets

For house rent earners currently enjoying standard deduction of 30%, now to get lower deduction of 20% UGLY

For small taxpayers earning up to Rs 3 lakh, who will get no tax benefit, but will effectively bear higher load due to change in tax concessions

For salaried class, whose retirement benefits will be required to be separately deposited & will be taxed on any withdrawal

For private discretionary trusts, who will not enjoy the basic exemption limit of Rs 50 crore

For self-occupied house owners paying interest on housing loan, losing benefit of current deduction of up to Rs 1,50,000





Aug 16 Sunday

Olympic champion Lin Dan completed a record hat-trick of world badminton championship titles by overcoming Chen Jin in an all-Chinese final on Sunday.

The 25-year-old, nicknamed "Super Dan", began cautiously before stamping his authority over world number two Chen, winning 21-18 21-16 in 45 minutes.

Seventh seed Lu Lan dashed Lin's girlfriend Xie Xingfang's hopes for a third title by winning the women's final 23-21 21-12.

The badminton powerhouse pocketed three titles after also triumphing in the women's doubles. China can increase their haul to four as they have also qualified for the men's doubles final.

Lin, the fifth seed but the overwhelming favourite, extended his supremacy in the game, having won the 2006 and 2007 world titles before clinching the gold medal at the Beijing Olympics last year.

"I'm very happy to win three times, I hope in future also I can have better performances," Lin said in a courtside interview through an interpreter after the win.

"The Chinese team training has been very effective. That is why I have been able to sustain my performances for three days."

SHIFTED GEARS

Despite facing stiff tests against Danish former world number one Peter Gade and Indonesian 2007 world runner-up Sony Dwi Kuncoro in previous rounds, Lin was ready for the in-form Chen.

Chen, 23, rallied from 11-6 down by denying Lin many openings at the net and successfully engaging the left-hander in rallies until Lin regained control to wrap up the first game.

Chen raised hopes of a fightback as the pair traded fast-paced rallies in the second game, the finest lasting over a minute which Chen won with a crosscourt smash to level at 14-14.

However, Lin quickly shifted gears to race to match point at 20-15. Although Chen saved one, the contest ended in anti-climax when he made a service fault.

In the women's final, Lu showed her semi-final win over team mate and world number two Wang Lin was no fluke, edging past her 28-year-old rival on extra points in the first game.

Lu dominated the second game with court speed and smashes to Xie's backhand before sealing victory when the Beijing Olympics silver medallist sent a return long.

"It was my mental strength, the fighting spirit was really there," said a delighted Lu. "It was tough, especially in the first game, up against my team mate."

China had dropped reigning women's champion Zhu Lin due to poor form.

Chinese eighth seeds Zhang Yawen and Zhao Tingting won the women's doubles, upstaging team mates and second seeds Cheng Shu and Zhao Yunlei 17-21 21-17 21-16.

Denmark won the mixed doubles final when seventh seeds Thomas Laybourn and Kamilla Rytter Juhl upset Indonesian second seeds Nova Widianto and Liliyana Natsir 21-13 21-17.

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USAIN'S WORLD RECORD IN 200mt at the World Athletics Championships.
Berlin: Jamaica’s Usain Bolt shattered his own 200 metres world record on Thursday to win gold at the world championships in a breathtaking 19.19 seconds and secure his place as the greatest sprinter ever seen. One year exactly after he posted 19.30 seconds at the Beijing Olympics to beat Michael Johnson’s “untouchable” 19.32 from the Atlanta Games, he sliced another 11 hundredths of a second off just as he did in Sunday’s 100 when he ran 9.58. Bolt, who turns 23 on Saturday, is now the world record holder and world and Olympic champion in both sprints—something no other athlete has achieved. “I was trying, I was dying,” he said. “It wasn’t a good race I can say but it was a fast one.” Jamaica’s gold rush continued in the women’s 400 hurdles when Olympic champion Melaine Walker ran the second-fastest time ever—52.42 seconds—to take the island’s tally to five.
Ryan Brathwaite of Barbados won the 110 hurdles in a blanket finish with the first three divided by one hundredth of a second. Croatia’s Blanka Vlasic went some way to making up for her Olympic disappointment when she retained the women’s high jump title with a leap of 2.04 metres, while Trey Hardee survived a gruelling 12-hour second day to win the decathlon. Bolt said he had been working on his start and the evidence was there for all to see as within half a dozen of his galloping strides he had run down Panama’s Alonso Edward, who went on to finish second in 19.81. “Unbelievable—a ridiculous race. The bend is unbelievable,” said former recordholder Johnson while commentating for the BBC. “No one has ever run a bend like this and probably never will.” However, even Bolt has to defer when it comes to the title of world’s greatest all-round athlete and Hardee fully deserves the title. The American produced three successive season’s bests in the 110 hurdles (13.86), discus (48.08) and pole vault (5.20) then somehow found a 68-metre javelin throw, his best by almost four metres, for a hefty lead of 264 points going into the 1,500. He duly got round safely to finish with 8,790 points, well ahead of Cuba’s Leonel Suarez and Aleksandr Pogorelov of Russia. In the 400 hurdles, Walker produced a storming last 100 to overtake American Lashinda Demus and post a time bettered only by the 52.34 of Russian Yuliya Pechonkina. Brathwaite, 21, took the 110 honours by the thickness of his vest in 13.14. REUTERS


Usain's World Record
BERLIN — Usain Bolt can confidently move on to the 200m knowing he is the global sprint king after his stunning 100m victory at the World Athletics Championships when he shattered his own world record by a massive 0.11 seconds.

In an ecstatic Olympic Stadium on Sunday night, Bolt improved the world record by the biggest margin in history.

Perhaps more importantly, the Jamaican has also turned the normally placid world of athletics upside down with his irreverant humour and much-needed light-hearted approach, including his admittance to his pre-race munching of chicken nuggets.

His prancing around before starter's orders, including the trademark stance of aiming his invisible bow and arrow towards the sky, has delighted the crowd.

It has also engendered some more enlightened reactions from his rivals, more accustomed to snarling poses seemingly suited more to cage fighting than an innocuous non-contact sprint.

As the television cameras panned across the line-up before the 100m, Asafa Powell stuck his hip number over his lips, for example, while others gurned or crossed eyes, all the time smiling and gesticulating.

Taking just 33 steps to hurtle his towering 6ft 5in frame down the track, Bolt destroyed a high-class field in running 9.58sec, bettering the previous best he set exacty one year previously in the Beijing Olympics final.

And the 22-year-old promised there was a lot more to come.

"I said I could run 9.4sec. I think it will stop at 9.4 but you never know," said the Jamaican. "Running 9.5sec is definitely a big thing. I'm proud of myself because I'm the first man to have done that.

"I honestly don't know how fast I can go.

"But I don't run for world records. I'll just keep on working."

American defending champion Tyson Gay finished second in a time of 9.71sec, a new national record but seemingly trivial in comparison to Bolt's feat. Jamaica's Asafa Powell claimed bronze in 9.84sec.

"The aim was just to come and win because I knew it was going to be a tough race," added Bolt.

"I got a pretty good start. I was there at 20 metres and that was it. My aim now is to beat 9.58sec."

Questioned whether he is the best-ever sprinter, Bolt was modest: "I don't know. I'll have to let the people, the fans, decide."

Bolt, who also claimed Olympic gold in the 200m and as part of the 4x100m relay team, will now turn his attention to the 200m, and again bid to prevent Gay from retaining his world crown.

Heats for the 200m are on Tuesday, with the semi-final on Wednesday and final on Thursday. The 4x100m relay heats are on Friday with the final on Saturday.

The pressure will be on Gay rather than Bolt to strike back for the US team in the battle of the sprints, but the American has been suffering a nagging groin injury and said he would be seeking medical advice before Tuesday's heats.

Bolt also acknowledged that his world record over the 200m of 19.30sec would not likely be in jeopardy.

"I doubt I'm going to get the world record in the 200," he said. "I'm going out there to run hard, definitely, but I think it is going to be even more difficult.

"I haven't run 200ms much all season because I don't think I was really in 200 shape. I took my time but when it comes to championships I'm always ready."

As for his controversial pre-race chow-down on nuggets, doubtless scoffing in the face of athletic dietary advice, Bolt joked that he could track them down wherever.

"Asafa said there was no nuggets here but I actually found a McDonalds and I had a lot of nuggets for lunch," Bolt said after the race without a hint of shame.

"So that?s good," he chuckled.

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August 11, 2009: C. Rangarajan appointed as Chairman to PM's Economic Advisory Council
August 9, 2009: Amitabh Kant appointed chief executive of DMIC
August 9, 2009: Baldev Raj appointed vice-president of International Institute of Welding (IIW)
August 8, 2009: Ro Khanna appointed by US President Barack Obama as the new deputy assistant secretary of commerce for domestic operations
August 6, 2009: Vice-Admiral Muralidharan to be Chief of Personnel
August 6, 2009: Alok Misra new CMD of Bank of India
August 5, 2009: Shailendra Bhandari appointed as the Managing Director and CEO of ING Vysya Bank
August 3, 2009 : Sir Ian Johnston appointed as Olympic security head
August 3, 2009: Nandita Das appointed Chairperson of Children's Films Society of India
July 22, 2009: Selvarasa Pathmanathan is new LTTE chief
July 21, 2009: Sunil Mitra appointed Disinvestment Secretary
July 20, 2009: Bhupinder appointed Punjab coach

August 11, 2009: C. Rangarajan appointed as Chairman to PM's Economic Advisory Council
Former RBI Chief, C Rangarajan, has resigned as a member of the Rajya Sabha and has been appointed as the Chairman of the Prime Minister’s Economic Advisory Council (PMEAC).

August 9, 2009: Amitabh Kant appointed chief executive of Delhi Mumbai Industrial Corridor
Central Government has appointed Amitabh Kant, known for as chief executive of the corporation that would manage the industrial-cum-infrastructure project - Delhi Mumbai Industrial Corridor (DMIC).

About Amitabh Kant: He is best known for pioneering the 'Incredible India' campaign, to boost tourst inflow to the country.He served as joint secretary in the tourism ministry for almost six years, beginning 2001

About DMIC: DMIC Development Corporation (DMICDC) is the nodal agency to handle the proposed $90-billion infrastructure project.

August 9, 2009: Baldev Raj appointed vice-president of International Institute of Welding (IIW)
Baldev Raj, Director, Indira Gandhi Centre for Atomic Research (IGCAR), Kalpakkam, has been elected vice-president of International Institute of Welding (IIW) for the period from 2009 to 2012 by its Board of Directors. This decision was taken in the IIW’s annual assembly held in Singapore in July.

August 8, 2009: Ro Khanna appointed by US President Barack Obama as the new deputy assistant secretary of commerce for domestic operations
Indian American Ro Khanna will serve as new deputy assistant secretary of commerce for domestic operations of the United States and Foreign Commercial Service, International Trade Administration at the US Department of Commerce. He is the first Indian American to be named for a senior position in the Department of Commerce in the Obama administration, whose portfolio will have a direct impact on US-India trade and commercial ties.

August 6, 2009: Vice-Admiral Muralidharan to be Chief of Personnel
Kochi: Vice-Admiral M.P. Muralidharan, Commandant of the Indian Naval Academy at Ezhimala, has been appointed Chief of Personnel of the Navy.

August 6, 2009: Alok Misra new CMD of Bank of India
The Central government has appointed Alok K. Misra as Chairman and Managing Director of Bank of India. Previous to this post he was was CMD of Oriental Bank of Commerce, will succeed T. S. Narayanasami.

August 5, 2009: Shailendra Bhandari appointed as the Managing Director and CEO of ING Vysya Bank
Shailendra Bhandari has been appointed as the Managing Director and CEO of ING Vysya Bank. He will be based at Bangalore. Previous to this post , he was Head of Private Equity at Tata Capital.

August 3, 2009 : Sir Ian Johnston appointed as Olympic security head
British Transport Police Chief Constable Sir Ian Johnston has been appointed head of security for the London 2012 Olympics. During the Games he will be responsible for overseeing security inside the Olympic venues, villages and transport.

August 3, 2009: Nandita Das appointed Chairperson of Children's Films Society of India
Actress and producer Nandita Das, has been appointed the new chairperson of the Children's Films Society of India (CFSI). The tenure of her appointment, subject to the provisions of Rule 18 of the aforesaid Rules, shall be for a period of three years. earlier Nafisa ali was holding this post, who resigned to contest election from Lucknow on Samajwadi party ticket.

About Children's Films Society of India:
CFSI is a nodal Government of India organization dedicated to providing wholesome entertainment for children through film and television, with the objective of broadening their horizon and justifying the role of film and television.

About Nandita Das:
She is daughter of Celebrity indian painter Jatin Das. She is played stupendous roles in Fire (1996), Earth (1998), Bawandar (2000) and Aamaar Bhuvan (2002). Firaaq (2008),was her first diretced film.

July 22, 2009: Selvarasa Pathmanathan is new LTTE chief
Selvarasa Pathmanathan alias Kumaran Pathmanathan, alias ‘KP’ has been officially appointed the head of the LTTE, in succession to Velupillai Prabhakaran the founder leader of the organisation who was killed in action by the Sri Lankan army in May 2009.

About Pathmanathan:
Pathmanathan was the chief funds and arms procurer of the LTTE before he was appointed the LTTE’s international diplomatic plenipotentiary by Prabhakaran. He was mostly abroad travelling under a variety of fake passports. INTERPOL had issued five notices against him. The Indian Central Bureau of Investigation has been wanting to question him on his role in the assassination of former Indian Prime Minister Rajiv Gandhi. The Sri Lankan government has been pressing governments overseas to arrest KP when cited, and hand him over to it for legal action.

July 21, 2009: Sunil Mitra appointed Disinvestment Secretary
West Bengal Power Secretary Sunil Mitra has been appointed Disinvestment Secretary at the Centre. He is an IAS officer of the 1975 batch, will replace Rahul Khullar, who has moved from the Disinvestment Department to take charge as Commerce Secretary.

July 20, 2009: Bhupinder appointed Punjab coach
Bhupinder Singh has been appointed by the Punjab Cricket Association as coach for the 2009-10 season. The 44-year-old,former Indian cricketer and national selector,represented North Zone on the selection panel, will take over from Arun Sharma. Bhupinder represented India in two ODIs in 1994 and was Punjab captain from 1989-1991.
Quiz Answers may not work in email posts. Please Click on the title of quiz to arrive at the site.

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AUGUST 2009 OBJECTIVE QUESTIONS.
** Note: "All red color answer is correct answer"

1.World Economic Forum had released its first Financial Development Report ranks 52 countries according to the strength of their financial markets in late 2008. Which are the top four countries having most developed financial system in the world?
(A) US, Britain, Germany , Japan
(B)US, Britain, Japan, France
(C)US, Japan, France, Switzerland

2. The current financial slowdown which has been termed as the great Depression initiated from US. In which of the following sectors of the US economy the slowdown affected most?
(A)Agro Sector
(B)Auto Sector
(C)Banking & Finance Sector

3.Which of the following countries is having highest inflation rate?
(A)Ethiopia
(B) Zimbabwe
(B)Zimbabwe
(C)Sudan

4.Indian economy was expected to grow by a satisfactory 6.7 % amid the shrinking global economy due to the financial crisis. However recently we read in the newspapers that something has put that projection into doubt. What is that ?
(A)The stats which were presented in the budget were not realistic
(B) The poor monsoon and poor harvest are going to affect the economy badly
(C)Due to a soaring oil bill , India's trade deficit is going to widen

5.A High Level Group on Systems and Procedures for Currency Distribution, headed by Smt. Usha Thorat, Deputy Governor, was set up in August 2008. Which among the following was the major objective of this group?
(A)To fight the menace of counterfeit notes
(B)To review the existing arrangements for stocking and distribution of currency notes
(C)To enhance the integrity and efficiency of the systems and procedures and suggest appropriate measures.
Ans. All are Correct.

6.The Union Cabinet is likely to approve soon the Micro Financial Sector (Development and Regulation) Bill, 2009 . Which among the following is correct regarding this bill?
(A)It will give more freedom to RBI regarding the Micro Finance
(B)It will make NABARD the Micro Financial Sector regulator
(C)It will distribute the regulating functions between SIDBI and NABARD

7.For which of the following uses a person is not eligible to seek a loan from commercial banks as per the guidelines of RBI ?
(A)To buy Gold ornaments for marriage
(B)To buy Kisan Vikas Patra
(C)To buy Tractors in urban Areas

8.BEML Limited (formerly Bharat Earth Movers Limited) comes in which of the following category ?
(A)Navratna
(B)Mini ratna
(C)Maha ratna

9.Which among the following is not a work of 2008 Man Booker Prize Winner Arvind Adiga?
(A)The white tiger
(B)Between the Assassinations
(C)The Inheritance of Loss

10.Recently Fifteenth Summit of the Non-Aligned Movement which was presided by Egypt held from the
11th till the 16th of July 2009 in the City of Sharma El Sheikh. Where was the first summit of NAM held & in which year ?
(A)Belgrade 1961
(B)Cairo, 1964
(C)Algiers. 1961

11.Which of the following states have set up Fishermen Debt Relief Commission ?
(A)Andhra Pradesh
(B)Maharastra
(C)Kerala

12.Which among the following is Incorrect regarding Mid Day Meal Scheme?
(A)It’s a social Sector programme
(B)The scheme has a long history especially in Tamil Nadu and Gujarat
(C)The program is being run by Akshaya Patra Foundation

13.Which among the following is correct regarding Loan Syndication?
(A)More than one debtors applying for a loan to one creditor
(B)More than one creditors coming together to provide single loan
(C)More than one creditors coming together to provide multiple loans

14.Which among the following is incorrect regarding the Indian Depository Receipts?
(A)They are derivative instruments
(B)They have shares as the underlying assets
(C)They are non-negotiable Financial instruments

15. In a letter to chairmen and CEOs of all scheduled commercial banks, local area banks and financial institutions, the RBI recently asked to take utmost care to ensure cross checking of all account opening applications and transactions carried out in the existing accounts. What is the purpose of this letter?
(A)To track terror funding
(B)To keep control the financial transactions of suspicious nature
(C)To find out individuals, entities and other undertakings associated with transactions including big amounts

16.Under which ministry Investor Education and Protection Fund (IEPF) was established in 1999 for promotion of investors’ awareness and protection of the interests of investors?
(A)Ministry of Finance
(B)Ministry of Corporate affairs
(C)Ministry of Commerce

17.If a state governments seeks help in reaching their targets of providing assistance to eligible institutions in agriculture and rural development, it should approach to which of the following agency ?
(A)SIDBI
(B)RBI
(C)NABARD

18.which among the following sentence is INCORRECT regarding Foreign Currency Non Resident (FCNR) accounts in India ?
(A)Accounts in foreign currencies (FCNR accounts) can be maintained by NRIs with authorized dealers in India.
(B)FCNR Accounts can be maintained in Pound Sterling, U.S.Dollar, Deutsche Mark, Japanese Yen and Euro
(C)FCNR accounts can be maintained only in the form of current / savings account as well as 'term deposits'

19.'World Development Indicators 2009' says that India exports 42 per cent of total service exports. This report was recently issued by (May 2009) ?
(A)International Monetary Fund
(B)World Bank
(C)United Nations

20.Which are the two ICT (Information & communication technology ) exporters of the world?
(A)India & China
(B)India & Russia
(C)India & US

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