Today's GK(10-10-13)

Canada’s Alice Munro wins literature Nobel

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Canadian writer Alice Munro, a thorough, but forgiving documenter of the human spirit, won the Nobel Prize in literature on Thursday for being a “master of the contemporary short story,” the Swedish Academy said.

Ms. Munro is the first Canadian writer to receive the prestigious $1.2 million award since Saul Bellow, who left for the U.S. as a boy and won it in 1976.

She is regarded as a modern Chekhov for her warmth, insight and compassion, and for capturing a wide range of lives and personalities without passing judgment on her characters.

Little master to retire after 200th Test

Indian cricket woke up to the reality of life after Sachin Tendulkar, following the maestro’s decision to retire from Test cricket after playing his 200th Test in the home series against the West Indies.

IFC Launched 1 Billion Dollar offshore Rupee Bond Programme to Strengthen India’s Capital Markets

International Finance Corporation (IFC), a member of the World Bank Group, on 7 October 2013 launched a 1 billion Dollars offshore bond programme to strengthen India’s capital markets and attract greater foreign investment.

Under the programme, IFC will issue rupee-linked bonds and use the proceeds to finance private sector investment in the country.

This programme will help bring depth and diversity to the offshore rupee market and pave the way for an alternative source of funding for Indian companies.

IFC’s offshore bond programme will pave the way for an alternative source of funding for Indian companies.

What are the off shore rupee bonds ?

• These are bonds denominationated in rupees but issued in international marklets.
• Investor has to convert its currency into rupees before investing.
• The return and final redumption is also in rupees.

Why are such off shore bonds are important ?

• They are an important way of internationalising indian currency.
• It will improve acceptance of the Indian currency in setting trade.
• A deep market for local currency will help reduce dollar needs of the economy.
• The diversity fund raising options for Indian borrowers.

About IFC

IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector in developing countries.

Malala Yousafzai Won European Union's Sakharov Human Rights Prize 2013

Malala Yousafzai, the Pakistani teen shot by the Taliban for championing girls' education won the European Union's (EU) Sakharov human rights prize 2013 on 10 October 2013.

In 2012 the award went to detained Iranians, lawyer Nasrin Sotoudeh and film maker Jafar Panahi, to honour those standing up for a better Iran.

Past winners of the Sakharov Prize include South African anti apartheid hero Nelson Mandela and former UN secretary general Kofi Annan.

China passed USA as Biggest Oil Importer in September 2013

China passed USA to become world’s biggest oil importer in September 2013 as per the data released by US government in the first week of October 2013. It happened because of faster economic growth and strong auto sales. The United States consumes far more oil per person than China does. It has a population about one-third the size of China’s.

China’s economy is the world’s second largest. China has encouraged development of wind and solar power and use of autos powered by batteries or natural gas. However, gasoline still remains the country's main vehicle fuel in coming decades.

Wilfried Martens, Nine-Time Prime Minister of Belgium Died At 77

Wilfried Martens, nine-times Prime Minister of Belgium and who led the European Union's Christian Democrat group, died on 9 October 2013 at Lokeren, in East Flanders. He was 77 years old.
 

Well-known Telugu Film Actor Srihari Died

Well-known Telugu film actor, Srihari died on 9 October 2013 at a private hospital in Mumbai. He was shooting for a Hindi film Rambo Rajkumar being directed by Prabhu Deva with Shahid Kapoor and Sonakshi Sinha in the lead. Srihari, was suffering from a liver ailment for some time.

He had acted in 98 movies. He made his debut in 1986 with the film Thirugbaatu. Subsequently, he performed the roles of a stunt performer and villain before making his debut as a hero in ‘Police’in 1999. He had acted as hero in about three dozen films. Srihari was a fitness freak by nature. He was 49 years old.

World Mental Health Day Observed on 10 October

The World Mental Health Day Observed on 10 October 2013 across the world to raise awareness about mental illness and its effects on people.

The theme for the year 2013 is Mental health and older adults

World Mental Health Day is a day for global mental health education, awareness and advocacy. It was first celebrated in 1992 at the initiative of the World Federation for Mental Health, a global mental health organization with members and contacts in more than 150 countries.

Government of Pakistan Decided To Appoint Syed Ibne Abbas as Envoy to India

Government of Pakistan decided on 9 October 2013 to appoint Pakistani veteran diplomat Syed Ibne Abbas as the new Pakistani envoy to India. He will succeeded by Salman Bashir.

Ethiopia Parliament Elected Mulatu Teshome as New President

Ethiopia's parliament on 7 October 2013 elected Mulatu Teshome as the country's new president for a six-year term. Mulatu Teshome will replace Girma Wolde Giorgis, who first took the post in 2001 and was re-elected in 2007.

Mulatu Teshome was elected at a joint session of the House of Peoples Representatives (HPR) and the House of Federation (HoF). Mulatu Teshome is the Fourth president of Ethiopia

S. R. Bansal Took the Charge as the Chairman and Managing Director of Corporation Bank

S. R. Bansal took the charge on 5 October 2013 as the Chairman and Managing Director of Corporation Bank.

Prior to assuming the position of Chairman and Managing Director of Corporation Bank he was Executive Director of Punjab National Bank.

Janet Yellen Nominated as Head of US Federal Reserve Board

US President Barack Obama on 9 October 2013 nominated Janet L. Yellen as the new head of the Federal Reserve Board. Janet Yellen replaced Ben Bernanke as Chair of the Federal Reserve Board.

Janet Yellen was previously vice Chairman of the Board of Governors of the Federal Reserve System. Janet Yellen is the first woman to lead the Federal Reserve Board and also the first Democrat to head the Board since 1979