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Current Affairs Updates for December 18, 2013

Published on Wednesday, December 18, 2013

Lokpal Bill passed in Rajya Sabha through voice votes

  • It will provide forming of an independent ombudsman to investigate against corruption against public functionaries
  • Prime Minister is also included in it with some conditions 

Tesco puts application for Multi-Brand Retail

  • FIPB (Foreign Investment Promotion Board) receives application from British Giant Tesco 
  • Tesco is world’s third largest retailer 
  • Tesco applied for 50% stake for USD 110 Million in Tata’s Trent 
  • Trent operates Star Bazar Hypermarket Chain 
  • The FDI policy permits a maximum of 51% stake in Indian Multi-Brand Retail Company subject to condition like minimum investment of USD 100 Million, 50% investment in backend infrastructure, 30% mandatory sourcing of products from small industries 
  • Tesco H/O: Cheshnut, United Kingdom
  • Trent H/O: Mumbai, Maharashtra 
  • Trent operates Westside, Landmark which is a book store 

AAP to conduct rally to gather people opinion

  • Arvind Kejriwal will do a rally campaign to gather people’s opinion on forming Government 

M.M. Kutti is new Finance Secretary of Delhi Government

Union Rural Development Minister announced major changes in UPA Flagship Programme, MGNREGA

  • Job Card holders to get Rs. 10,000 to build toilets instead of Rs. 4,500 now. 
  • Compensation to those if payment gets delayed by more than 15 days, and responsible officers to be punished. 
  • Union Rural Development Minister: Mr. Jairam Ramesh 

RBI comes out with a corrective plan to minimize NPA’s

  • CRILC: Central Repository on Information on Large Credit to be formed 
  • Banks need to inform CRILC of loan amount of Rs. 5 Crore or more and Current Account Outstanding of Rs. 1 Crore or more 

Australia regains The Ashes

  • Australia leads the 5 match series 3-0 
  • England batsman Stoke’s century in 2nd innings goes in vain 
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