IRCON and Sri Lanka Railways Signed an
Agreement on Infrastructure
Development
IRCON and Sri Lanka Railways signed an
agreement for supply and installation of the
signaling
and telecommunication system for railway network in Northern Province of Sri
Lanka
The cost
of the project is $86.5 mn
It will
cover the Anuradhapura-Medawachchiya and Kankasanthurai-Tallai Mannar
sections
The project is a part of Indian Line of
Credit of $800 mn, which was extended by India at concessional terms
The credit line was extended at an interest
rate of LIBOR plus 0.5% with LIBOR capped at 3 percent
The repayment period is 20 years with a five
year moratorium
China Announces Measures to support Honk
Kong Economy
China
announced measures in order to make it comfortable for Hong Kong companies to
invest in mainland securities
It is a part of the latest steps by China to
make the Yuan an International Currency
An
initial quota of more than $3 bn for foreign investors based in Hong Kong
seeking to purchase yuan-denominated securities was
announced
China has long been using Hong Kong as a test
bed for a loosening of its strict currency controls
Hong Kong is one of two special administrative
regions (SARs) of the People’s Republic of China (PRC), the other being Macau
T-50 Stealth Fighter makes its Public
appearance at MAKS Air Show, Moscow
T-50
stealth fighter being jointly developed by Russia and India
It made
its first international public appearance at the MAKS air show in Moscow
The T-50
resembles Russia’s best-selling Su-30 fighter jet but will have all its weapons
hidden inside its body and wings to avoid radar
detection
and will fly at supersonic cruising speeds
The
aircraft also boasts of ultra-maneuverability and high-technology avionics
“Courts have no mandate to re-evaluate
exam answer sheet”: Supreme
Court
Supreme Court ruled that courts have no authorization to
re-evaluate an answer
sheet even if a candidate has been awarded less marks in an
Examination
A bench of the apex court ordered reduction of two extra marks
awarded to a girl
candidate for 2007 all-India medical entrance test by the Patna
High Court,
though correctly, during adjudication of her plea for revaluation
of her answer
sheets
The bench held the view that the judges need not decide what is
sensible in
academic arena
The apex court gave its ruling on an appeal by the CBSE (Central
Board of
Secondary Education)
SC upholds 10% relaxation on eligibility
to OBCs
The Supreme Court held that the minimum eligibility percentage for
admittance in
Central Universities for OBC category should be at the most 10%
less than that of
general category students
A bench headed by Justice R V Raveendran held that the eligibility
criteria for OBC
category students should not be decided on the basis of admission
given to the
last candidate in general category
The bench, however, clarified that there would be no disturbances
in the
admissions which have already been done by the universities for
this academic
session
The court’s clarification came a petition filed by P V Indersan, a
former professor of
IIT Madras, seeking its direction in the light of discrepancies in
implementation of
OBC quota in different educational institutions
In order to try corruption cases
Government to setup 71 additional Courts
Government to setup 71 additional courts to try cases under
Prevention of
Corruption Act
30 such courts are already functioning to speed up the trial of
corruption cases
The State governments have also set up 46 special courts to
dispose such cases
As per the Law Minister Mr. Salman Khurshid, there is no proposal
to set up Fast
Track Courts exclusively for hearing the cases related to
corruption
Gagan Narang to be conferred “Rajiv
Gandhi Khel Ratna Award” – 2011
Ace shooter Gagan Narang will be conferred the Rajiv Gandhi Khel
Ratna
Award
Gagan Narang notched up 4 Gold Medals at last year’s Commonwealth
Games
He is the first Indian marksman to qualify for next year’s London
Olympics with a
bronze in the World Championships last year
Coal India replaces Reliance Industries
as the “Most Valued Indian Company”
Coal India, a newbie in the elite list of 30
companies that constitute the Sensex
on August 17, 2011 replaced Reliance Industries Ltd as the ‘Most Valued Indian
Company’
The nearly four-decade-old Kolkata-headquartered Coal India
currently boasts of a market capitalization of Rs 2.5 lakh
Crore,
compared to RIL’s Rs 2.47 Lakh Crore
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