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Current Affairs: 12th May 2015

Category : All, Current Affairs · by May 13th, 2015

1- Dr. Sivanadane Mandjiny, Indian-American professor wins UNC’s 2015 Award for Teaching Excellence

Dr. Sivanadane Mandjiny, Indian-American professor wins UNC’s 2015 Award for Teaching Excellence

Dr. Sivanadane Mandjiny

Dr. Sivanadane Mandjiny, an Indian-American Professor in US is named UNC Pembroke’s recipient of the UNC Board of Governors 2015 Award for Excellence in Teaching.

He will receive this award along with each professor of the other 16 UNC campuses. The award carries commemorative bronze and US $ 12,500 cash prize.

Presently, he is a Chemistry professor at the University of North Carolina. He had joined University’s Department of Chemistry and Physics in 1996 as a teaching associate.

Sivanadane Mandjiny is native of Tamil Nadu. He holds a bachelor’s degree in chemical engineering from the University of Madras and a master’s degree in biochemical engineering from the IIT.

He also holds a second master’s degree in chemical engineering from the University of Toronto and a PhD from the Universite de Technologie de Compiegne in France. Mandjiny’s has studied in four languages Hindi, Tamil, French and English.

2- Satish Reddy appointed as Chairman of National Safety Council

Satish Reddy appointed as Chairman of National Safety Council

Satish Reddy

Union Ministry of Labour and Employment has appointed K Satish Reddy as the chairman of the National Safety Council (NSC).

He will succeed Venu Srinivasan, who was appointed in July 2011. As the chairman of the NSC, Mr. Reddy will oversee its functioning to generate and develop initiatives on Safety, Health and Environment at the national level.

Presently, he is Chairman of Dr Reddy’s Laboratories Limited.

About National Safety Council (NSC)

  • NSC is the apex non-profit making body under the aegis of Union Ministry of Labour and Employment.
  • Objective:It seeks to develop, generate and sustain a voluntary movement on safety, health and environment at the national level.
  • Established:On 4 March 1966.
  • It is registered under the Bombay Public Trust Act, 1950 and Societies Registration Act, 1860.
  • Headquarter:Navi Mumbai, Maharashtra.
  • Functions:The apex body conducts specialised workshops and courses, carries out risk assessments and safety audits and facilitates awareness camps in organisations.

3- Lok Sabha passes Undisclosed Foreign Income and Assets (Imposition of Tax) Bill, 2015

Lok Sabha passes Undisclosed Foreign Income and Assets (Imposition of Tax) Bill, 2015Lok Sabha on 11 May 2015 passed Undisclosed Foreign Income and Assets (Imposition of Tax) Bill, 2015 by a voice vote.

The bill seeks to deal with the menace of black money and to replace the Income Tax (IT) Act, 1961 for the taxation of foreign income.

Salient features of the Bill

Scope- Provisions will applicable to both undisclosed foreign income and assets including financial interest in any entity and the Act will be applicable to all persons resident in India.

Rate of tax– A flat rate of 30 percent tax will be applied to undisclosed foreign income or assets. In case of any carried forward losses, no exemption or deduction or set off will be allowed which may be admissible under the existing IT Act, 1961.

Penalties- Violation will entail stringent penalties. Following are penalties mentioned

  • For nondisclosure of foreign income or assets outside India, penalty will be equal to three times the amount of tax payable i.e. 90 percent of the undisclosed income in addition to tax payable at 30%.
  • In case of failure to furnish return in respect to foreign income or assets, there will be of 10 lakh rupees.

Prosecutions- For various types of violations, the bill proposes enhanced punishment. They are

  • For willful attempt to evade tax, the punishment will be rigorous imprisonment from 3years to 10 years and a fine.
  • In case of failure to furnish a return of foreign assets the punishment will be rigorous imprisonment of 6 months to 7 years with fine.

One-time compliance opportunity

  • It also adds provision of one-time compliance opportunity to persons for limited period who have undisclosed foreign assets that has not been disclosed for the purposes of Income-tax.
  • In this case, such persons will be permitted to file a declaration before a tax authority, and pay a penalty at the rate of 100%.

In order to include offence of tax evasion as a scheduled offence under Prevention of Money Laundering Act (PMLA), 2002, the bill proposes amendment to PMLA, 2002.

4- Justice Cyriac Joseph appointed as acting Chairman of NHRC

khichdi, blog,current affairs, general,knowledge, ias, ips, civil, services, CSAT,pre, ies, general studies, GS, mains, competitive, entrance, bank, PO, IBPS, current, affairs, may, 2015, blog, study, material, CSAT, Justice Cyriac Joseph appointed as acting Chairman of NHRC

Justice Cyriac Joseph

President Pranab Mukherjee has appointed Justice Cyriac Joseph as acting Chairman of National Human Rights Commission (NHRC).

His appointment comes after then Chairman of NHRC Justice K.G. Balakrishnan completed his tenure. He will remain in office till new Chairman is appointed.

Presently, Justice Cyriac Joseph is member of NHRC. He hails from Kaiphuza village of Kottayam district in Kerala and was a Judge of the Supreme Court from 2008 to 2012.

Justice K.G. Balakrishnan has completed his tenure as the sixth and the longest serving Chairman NHRC on 11 May 2015. He was appointed as Chairman of Commission in June 2010 after his retirement as the Chief Justice of India (CJI).

During his tenure, he was instrumental in charting out several new initiatives towards promotion and protection of human rights in the country.

He has served as CJI from 2007 to 2010 and was the first person of Dalit origin to ascend to post of the CJI in the Supreme Court of India.

5- Hyderabad to host Indo-Global Pharma Expo and Summit 2015 in July

Hyderabad to host Indo-Global Pharma Expo and Summit 2015 in July, khichdi, blog,current affairs, general,knowledge, ias, ips, civil, services, CSAT,pre, ies, general studies, GS, mains, competitive, entrance, bank, PO, IBPS, current, affairs, may, 2015, blog, study, material, CSAT

Indo-Global Pharma Expo and Summit 2015

Hyderabad will host the four-day Indo-Global Pharma Expo and Summit 2015 that is scheduled to be held on 24 July 2015. The announcement was made by P V Appaji, Director-General of Pharmaceuticals Export Promotion Council of India (Pharmexcil) on 11 May 2015.

The theme of Indo-Global Pharma Expo and Summit 2015 will be Innovation and Advances. The event will deliberate on a range of issues, from pharmaceutical technology to education, indigenous drugs and drug regulatory affairs, besides serving as a platform for joint ventures and project collaboration. Renowned pharmaceutical experts will be addressing the Summit. The summit will be organised by Indus Foundation in association with FTAPCCI and OMICS group.

6- Nikesh Arora appointed as President of Japan’s SoftBank Corp.

Nikesh Arora appointed as President of Japan’s SoftBank Corp.

Nikesh Arora

Indian-born Nikesh Arora was on 11 May 2015 appointed as the President of Japan’s multinational telecommunications and internet company SoftBank Corp. As per the announcement made at the company’s earning conference, he will also be the Representative Director of SoftBank Corp.

Before the present elevation, he had been the Vice Chairman of the company and the Chief Executive Officer (CEO) of SB Group US, Inc. (former SoftBank Internet and Media, Inc.) since September 2014. He succeeds Masayoshi Son, Chairman and CEO of the Softbank Corp.

Earlier, Arora worked in Google for 10 years and left the company as the Senior Vice President and Chief Business Officer before joining SoftBank Corp. in 2014.

7- US-based company mGage acquired Unicel Technologies

US-based company mGage acquired Unicel TechnologiesGlobal mobile multi-channel messaging platform mGage on 11 May 2015 acquired Bengaluru-based counterpart Unicel Technologies. However, the deal value was not disclosed by both the companies.

With this acquisition, mGage will gain a strong foothold in enterprise mobile marketing and mobile CRM market in India. As a combined organisation, mGage will enable more than 60 billion transactions annually. Both mGage and Unicel firms help banks to notify customers via SMS alerts about their transactions, enable insurance companies send payment reminders, or assist e-commerce firms to send text messages regarding shipment, delivery or cancellation.

About mGage

The mGage multi-channel platform serves more than 1000 bluechip brands, enterprises and partners through a network of more than 800 mobile operators around the world.

It serves both traditional brand marketers as well as customer care organisations within the enterprise. It offers messaging features with retargeting capabilities including SMS, voice, email, USSD, push notifications and OTT.

About Unicel Technologies

Unicel is a mobile messaging company providing integrated cloud communications solutions across SMS, voice, USSD and e-mail platforms in India.  Founded by Vinay Agarwal in 2003, Unicel currently employs around 100 people and has a client base of over 1000 enterprises across India including various Fortune 500 brands.

8- Priti Patel, Indian-origin MP appointed as Minister of State for Employment in United Kingdom Government

Priti Patel, Indian-origin MP appointed as Minister of State for Employment in United Kingdom Government

Priti Patel, Minister of State for Employment in United Kingdom Government

Indian-origin Member of Parliament (MP) Priti Patel was appointed as Minister of State (MoS) for Employment in the David Cameron led United Kingdom Government.

British Prime Minister David Cameron has also promoted her to his Cabinet. As the new Minister of State for Employment in the Department of Work and Pensions, she will attend all Cabinet members as the senior-most Indian-origin member.

In recently concluded 2015 UK General election, Priti Patel was re-elected from Witham constituency in Essex on Conservative Party ticket. Earlier, she was elected from same constituency in 2010.

In January 2015, she had led the British delegation in Pravasi Bharatiya Divas 2015 and was was awarded the Jewels of Gujarat honour at a reception in Ahmedabad, Gujarat. She was also instrumental for hosting the first-ever Gujarat Foundation Day in the House of Commons in 2014 which celebrated the achievements and contributions of the Gujarati community in the UK and around the world.

9- President Pranab Mukherjee presents Florence Nightingale Awards to 35 nurses

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Florence Nightingale Awards

President Pranab Mukherjee conferred the National Florence Nightingale Awards to 35 nursing personnel from across the country on the occasion of International Nurses Day.

The National Florence Nightingale Awards were presented at a function held at Rashtrapati Bhavan.

About National Florence Nightingale Award

The Florence Nightingale Award was established by the Union Health Ministry to honour the selfless services rendered by Nurses with devotion, sincerity, dedication and compassion. The Award is given to the outstanding nursing personnel employed in Central, State/UTs. Nurses working in Government, Voluntary Organizations, Mission institutions and private institutions can apply with due recommendation of concerned State Government.

The Award carries 50,000 rupees cash award, a certificate, a citation certificate and a medal.

May 12: International Nurses Day

The award is named after Florence Nightingale, founder of modern nursing. She was born on May 12, 1820 and the day is celebrated as International Nurses Day all over the world.

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