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●Economy
1. President Pranab Mukherjee on 30 March 2014 cleared the re-promulgation of the SEBI Ordinance Securities Laws (Amendment) Bill 2013. The ordinance aims to give powers to Securities and Exchanges Board of India (SEBI) to act against Ponzi scheme.
2. Bharat Heavy Electricals Limited (BHEL) signed a contract of 125 crore rupees from Uttarakhand Jal Vidyut Nigam Limited on 31 March 2014. The contract is for setting up a 120 MW Hydro Electric Project in Uttarakhand on 31 March 2014.
3. The value of export of spices of India during April to December 2013 (of current fiscal year 2013-14) in terms of rupee registered an increase of 41 percent. This was revealed by the figures released by the Spices Board of
India at Kochi.
4. The Reserve Bank of India (RBI) extended the timeline for full implementation of the Basel III capital regulations by a year. Now the banks are required to comply with the Basel III norms by 31 March 2019 instead of 31 March 2018.
5. SEBI announced on 25 March 2014 to release the Foreign Account Tax Compliance Act (FATCA) compliance norms in the fiscal year 2014-15. The FATCA compliance norms will help combat possible tax evasion by Americans through Indian entities.
6. Employees’ Provident Fund Organisation (EPFO) on 24 March 2014 announced to provide Universal Account Number (UAN) to its five crore subscribers from 1 October 2014.
7. Bank of India (BoI) on 24 March 2014 launched Instant Money Transfer (IMT) scheme in Mumbai. IMT scheme allows customers to withdraw cash without using either debt card or credit card at BoI's IMT-enabled ATMs. This is the first-of-its-kind initiative launched by a public sector bank.
●News
The Competition Commission of India (CCI) on 27 March 2014 imposed a fine of 1 crore rupees on Google under Section 43 for its non cooperation.
●National
1. Supreme Court of India on 31 March 2014 issued a notice to the Union Government and has sought its response on selection process of Chairperson and member of the Lokpal. It has asked the center to justify within four weeks the Search Committee Rules, 2014 that is framed under the Lokpal and Lokayuktas Act, 2014.
2. The Supreme Court on 30 March 2014 uphold the age of juvenile to 18 years. SC cited that the legislature has fixed the age which is constitutionally permissible.
3. The Suporeme Court ordered the sacking of incumbent Chairman of Board of Cricket of India (BCCI) while delivering a series of judgments on 28 March 2014 to overhaul the BCCI. The order was given against the backdrop of Mudgal Committee Report on IPL spot fixing during IPL 2013.
4. Supreme Court on 27 March 2014 directed all the States and Union Territories to implement Prohibition of Employment as Manual Scavengers and their Rehabilitation Act, 2013.5. The World Health Organisation (WHO) on 27 March 2014 certified India as a Polio Free country. This action of WHO made India one of the 11 countries of South-East Region to be free from polio virus.
●International
1. The US and Russia on 30 March 2014 failed to break the East-West deadlock over how to proceed on Ukraine crisis. Secretary of State John Kerry and Russian Foreign Minister Sergey Lavrov met and held a 4-hour long talks with an aim to break the deadlock of Ukraine crisis, which ended with no conclusion.
2. The International Monetary Fund (IMF) agreed on 27 March 2014 to provide loan to Ukraine worth 18 billion dollars for next two years.
3. Military Government of Fiji declared in Suva on 28 March 2014 to hold the democratic elections in Fiji on 17 September 2014. This will be the first democratic elections to be held in Fiji since the military coup in 2006. 17 September has been declared as paid holiday in Fiji for the elections.
4. The Third Nuclear Security Summit was held in The Hague, Netherlands from 24 to 25 March 2014.
