TOP 10 HEADLINES OF 25.12.2014

TOP 10  HEADLINES OF 25.12.2014
TOP 10  HEADLINES OF 25.12.2014

1. Senior IAS officer S. Bhattacharya has been appointed as the Chairman and Managing Director of Coal India Ltd. (CIL). The coal major was without a full time chief for the past six months. Bhattacharya takes over the charge from Additional Secretary (Coal) A.K. Dubey who was given the additional charge as CMD of CIL from June 26.

2. Private sector lender Yes Bank has raised $200 million in an unsecured loan from Asian Development Bank for onlending to small farm households and rural womens’ self help groups (SHG). Apart from the unsecured loan, Yes Bank said ADB will also provide a Capacity Development Technical Assistance grant up to $1 million, which will be used for capacity building and improving the financial literacy of women borrowers.

3. Ford Credit India Pvt. Ltd. has been granted a license by the Reserve Bank of India to operate as a Non Banking Financial Company in India and plans to begin dealer wholesale inventory financing in the first quarter of 2015.

4. Veteran Tamil Film Director K. Balachander, who was known in the South Indian film circles as ‘Iyakkunar Sigaram’ (a peak among directors) passed away. He was 84 years old.

5. According to International Monetary Fund (IMF) oil prices will remain low in the future which will help boost the global economy next year between 0.3 and 0.7 percent more than the 3.8 percent planned.

6. Former Prime Minister Atal Bihari Vajpayee and freedom fighter Madan Mohan Malaviya will be honoured with the Bharat Ratna, India's highest civilian award, the President's office announced. Prime Minister Narendra Modi recommended the names to President Pranab Mukherjee.

7. Taiwan launched its largest ever missile ship as the island strives to modernise its armed forces in response to a perceived threat from China. According to defence minister Yen Ming the 500-tonne corvette named 'Tuo Chiang' - is the first of its kind ever produced by Taiwan and is "the fastest and most powerful" in Asia.

8. The deadline for exchanging pre-2005 currency notes of various denominations, including Rs 500 and Rs 1,000, has been extended by another six months till June 30, 2015. ''The Reserve Bank of India has stated that the public can do so till June 30, 2015. Earlier in March 2014, it had set the last date for public to exchange these notes was January 1, 2015'' the RBI said in a statement. The central bank clarified that all such notes will continue to remain a legal tender. These notes can be exchanged for their full value, it added.

9. India clinched the first South Asian Women's Volleyball Championship title. India topped the table with 12 points from four consecutive victories, while Nepal, with nine points from three wins, took the second place above Sri Lanka, who lost two of their four matches.

10. The government allowed 100 per cent FDI under automatic route in medical devices sector to encourage manufacturing of equipments, including diagnostic kits and other devices.
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