Secret data on Scorpene submarines leaked, Navy probing matter

 New Delhi/Melbourne, Aug 24 (PTI) More than 22,000 pages of top secret data on the capabilities of six highly advanced submarines being built for the Indian Navy in Mumbai in collaboration with a French company have been leaked, raising alarm bells today in the security establishment.

The combat capability of the scorpene submarines being built at Mazagon dock at a cost of USD 3.5 billion by French shipbuilder DCNS, went public when an Australian newspaper, "The Australian", put the details on the website.

Reacting with alacrity to the development, Defence Minister Manohar Parrikar, who learnt about the leak at midnight, ordered Navy Chief Admiral Sunil Lamba to go into the 'entire issue". A report is also being sought from DCNS.

"What I understand is there is a hacking. So we will find out all this," Parrikar told reporters in Delhi.

Cabinet approves introduction of the "Surrogacy (Regulation) Bill, 2016"

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval for introduction of the "Surrogacy (Regulation) Bill, 2016". 

The Bill will regulate surrogacy in India by establishing National Surrogacy Board at the central level and State Surrogacy Boards and Appropriate Authorities in the State and Union Territories. The legislation will ensure effective regulation of surrogacy, prohibit commercial surrogacy and allow ethical surrogacy to the needy infertile couples. 

All infertile Indian married couple who want to avail ethical surrogacy will be benefited. Further the rights of surrogate mother and children born out of surrogacy will be protected. The Bill shall apply to whole of India, except the state of Jammu and Kashmir. 

The major benefits of the Act would be that it will regulate the surrogacy services in the country. While commercial surrogacy will be prohibited including sale and purchase of human embryo and gametes, ethical surrogacy to the needy infertile couples will be allowed on fulfilment of certain conditions and for specific purposes. As such, it will control the unethical practices in surrogacy, prevent commercialization of surrogacy and will prohibit potential exploitation of surrogate mothers and children born through surrogacy. 

No permanent structure is proposed to be created in the Draft Bill. Neither there are proposals for creating new posts. The proposed legislation, while covering an important area is framed in such a manner that it ensures effective regulation but does not add much vertically to the current regulatory structure already in place at the central as well as states. Accordingly, there will not be any financial implications except for the meetings of the National and State surrogacy Boards and Appropriate Authorities which will be met out of the regular budget of Central and State governments. 

Background: 

India has emerged as a surrogacy hub for couples from different countries and there have been reported incidents concerning unethical practices, exploitation of surrogate mothers, abandonment of children born out of surrogacy and rackets of intermediaries importing human embryos and gametes. Widespread condemnation of commercial surrogacy prevalent in India has also been regularly published in different print-and electronic media since last few years highlighting the need to prohibit commercial surrogacy and allow ethical altruistic surrogacy. The 228th report of the Law Commission of India has also recommended for prohibiting commercial surrogacy and allowing ethical altruistic surrogacy to the needy Indian citizens by enacting a suitable legislation. 

PM congratulates All India Radio (Akashvani), on the launch of Akashvani Maitree

The Prime Minister, Shri Narendra Modi has congratulated All India Radio (Akashvani), on the launch of Akashvani Maitree. 

"Congratulations to Akashvani (AIR) on launch of Akashvani Maitree, inaugurated by President of India. This can be heard in India and Bangladesh. 

Akashvani Maitree will serve as one more bridge of friendship between people of India and Bangladesh", the Prime Minister said.

National Sports Awards – 2016

National Sports Awards are given every year to recognize and reward excellence in sports.  Rajiv Gandhi Khel Ratna Award is given for the spectacular and most outstanding performance in the field of sports by a sportsperson over a period of four years; Arjuna Award is given for consistently outstanding performance for four years; Dronacharya Award for coaches for producing medal winners at prestigious international sports events, Dhyan Chand Award for life time contribution to sports development and Rashtriya Khel Protsahan Puruskar  is given to the corporate entities (both in private and public sector) and individuals who have played a visible role in the area of sports promotion and development. Overall top performing university in inter-university tournaments is given Maulana Abul Kalam Azad (MAKA) Trophy.

           

A large number of nominations were received for these awards this year, which were considered by the Selection Committees consisting of former  Olympians, Arjuna Awardees, Dronacharya Awardees, Dhyan Chand Awardees, Sports Journalists/Experts/Commentators and sports administrators. Selection Committee for Rajiv Gandhi Khel Ratna Award and Arjuna Awards was headed by Justice S.K. Agarwal, Retired Delhi High Court Judge.  Selection Committee for Dronacharya Awards and Dhyan Chand Awards was headed by Ms. M.C. Mary Kom. Selection Committee for Rashtriya Khel Protsahan Puruskar was headed by Shri Rajiv Yadav, Secretary (Sports). 

                                                     

Based on the recommendations of the Committee and after due scrutiny, the Government has  decided to confer awards upon the following sportspersons/ coaches/organizations:

           

(i)         Rajiv Gandhi Khel Ranta 2016

S. No.	Name of the awardee	Discipline
1.	Ms. P.V. Sindhu	Badminton
2.	Ms. Dipa Karmakar	Gymnastics
3.	Shri Jitu Rai	Shooting
4.	Ms. Sakshi Malik	Wrestling

(ii) Dronacharya Awards 2016

S.No.	Name of the awardee	Discipline
1	Shri Nagapuri Ramesh	Athletics
2	Shri Sagar Mal Dhayal	Boxing
3.	Shri Raj Kumar Sharma	Cricket
4.	Shri Bishweshwar Nandi	Gymnastics
5.	Shri S. Pradeep Kumar	Swimming (Lifetime)
6.	Shri Mahabir Singh	Wrestling (Lifetime)

(iii)        Arjuna Awards 2016

S. No.	Name of the awardee	Discipline
1.	Shri Rajat Chauhan	Archery
2.	Ms. Lalita Babar	Athletics
3.	Shri Sourav Kothari	Billiards & Snooker
4.	Shri Shiva Thapa	Boxing
5.	Shri Ajinkya Rahane	Cricket
6.	Shri Subrata Paul	Football
7.	Ms. Rani	Hockey
8.	Shri Raghunath V.R.	Hockey
9.	Shri Gurpreet Singh	Shooting
10.	Ms. Apurvi Chandela	Shooting
11.	Shri Soumyajit Ghosh	Table Tennis
12.	Ms. Vinesh	Wrestling
13.	Shri Amit Kumar	Wrestling
14.	Shri Sandeep Singh Mann	Para-Athletics
15.	Shri Virender Singh	Wrestling (Deaf)

(iv) Dhyan Chand Award 2015

S. No.	Name of the awardee	Discipline
1	Ms. Satti Geetha	Athletics
2	Shri Sylvanus Dung Dung	Hockey
3	Shri Rajendra Pralhad Shelke	Rowing

(v) Rashtriya Khel Protsahana Purushkar, 2016

S. No.	Category	Entity recommended for Rashtriya Khel ProtsahanPuruskar, 2016
1.	Identification and Nurturing of Budding and Young Talent	1.Hockey Citizen Group 2.Dadar Parsee Zorostrian cricket club 3.Usha School of Athletics 4. STAIRS
2.	Encouragement to sports through corporate social responsibility	India Infrastructure Finance Corporate Limited
3.	Employment to sportspersons and other welfare measures	Reserve Bank of India
4.	Sports for Development	Subroto Mukherjee Sports Education Society

 (vi) Maulana Abul Kalam Azad (MAKA) Trophy 2015-16

Punjabi University, Patiala

The awardees will receive their awards from the President of India at a specially organized function at the Rashtrapati Bhawan on August 29, 2016. 

Apart from a medal and a citation, Rajiv Gandhi Khel Ratna Awardee will receive a cash prize of Rs.7.5 lakh.  Arjuna, Dronacharya and Dhyan Chand Awardees will receive statuettes, certificates and cash prize of Rs.5 lakh each.  Recipients of Rashtriya Khel Protsahan Puruskar will be given Trophies and certificates. Overall top performing university in inter-university tournaments will be given MAKA Trophy, award money of Rs. 10 lakh and  certificate.

EPFO investments in ETFs to be raised beyond 5%

Hyderabad, Aug 21 (PTI) Union Labour Minister Bandaru Dattatreya today said that EPFO will raise proportion of its investments in exchange traded funds (ETFs) from the present 5 per cent and a final decision on the quantum for current fiscal would be taken very soon.

SBI Mutual Fund and UTI Mutual Fund will manage the corpus of the retirement fund in ETFs, he said.

As on July 31 this year, amount invested in ETF by Employees' Provident Fund Organisation (EPFO) is Rs 7,468 crore and the market value of this as on date is Rs 8,372 crore, which shows a positive return of 12.10 per cent, the minister said.

"An emergency meeting of Central Board of Trustees (CBT) of EPFO will be convened soon and a final decision on how much (increase in quantum of investments in ETF) percentage will be taken after taking opinion. Earlier, we had gone for 5 per cent. Now, how much we have to increase I will take a decision after the emergency meeting," Dattatreya told PTI.

"Anyhow the increase will be there and how much increase...within next 15 days we will decide," he added.

The Finance Ministry had last year notified a new investment pattern for EPFO, allowing the body to invest a minimum of 5 per cent and up to 15 per cent of its funds in equity or equity-related schemes. EPFO had started investing up to five per cent of its investible deposits in ETFs in August last year.

Reacting to a query on opposition by labour unions on the proposal (to increase quantum of investments in ETFs), he said, "They (unions) are saying government should give guarantee. Things are in positive direction and in prevailing market situation it will further more increase. World over investments of social security funds (are) in same pattern (ETFs)." 

Dattatreya further said the tenure of SBI Mutual Fund as ETF manufacturer for EPFO lapsed on June 30 and selection of SBI Mutual Fund and UTI Mutual Fund has been done by CBT, adding new investments will restart in ETFs.

"We have not stopped investments in ETFs during the lapsed period and taken care of investment pattern. In the meanwhile, (the period after it expired) funds amounting to Rs 900 crore have been parked/invested in Liquid Mutual funds and such funds earned around 7 per cent approximately. "This amount will be withdrawn and invested in ETFs by both SBI Mutual Fund and UTI Mutual Fund," the minister added.

Dr. Urjit R Patel appointed as the New Governor of Reserve Bank of India (RBI) for a period of three years with effect from 4th September, 2016.

New Delhi: Urjit Patel becomes 24th RBI Governor. PTI Photo

Dr. Urjit R Patel has been appointed as the New Governor of Reserve Bank of India (RBI) for a period of three years with effect from 4th September, 2016. He will replace the present RBI Governor Dr. Raghuram Rajan. Dr Patel is presently the Deputy Governor of RBI and is holding this assignment since 2013.

Patel, 52, joined RBI as Deputy Governor on January 11, 2013, and was given a second term in January.

As deputy governor, Patel headed the RBI panel to draft the monetary policy report, which became the basis of the ongoing reforms at the apex bank.

The Patel committee report also formed the basis of the monetary policy committee, which takes away a lot of powers of RBI and the governor, as also move to create a public debt management agency.

Under the independent monetary policy committee, which is being set up, the government will set an inflation target to RBI and the governor will be made answerable to Parliament if he/she fails to contain inflation within target.

Prior to his appointment as the deputy governor, Patel was Advisor (Energy & Infrastructure), The Boston Consulting Group.

He is a Ph.D. (Economics) from Yale University (1990) and M Phil from Oxford (1986) and has been a non-resident Senior Fellow at the The Brookings Institution since 2009.

Patel was with the International Monetary Fund (IMF) between 1990 and 1995, and worked on the US, India, Bahamas and Myanmar desks.

He was on deputation (1996-1997) from the IMF to the Reserve Bank of India and provided advice on development of the debt market, banking sector reforms, pension fund reforms, real exchange rate targeting and evolution of the foreign exchange market.

Patel was also a Consultant (1998-2001) to the Ministry of Finance, Department of Economic Affairs, New Delhi.

Some of his previous assignments include, President (Business Development), RIL; Executive Director and Member of the Management Committee, IDFC (1997-2006); Member of the Integrated Energy Policy Committee (2004-2006) and Member of the Board, Gujarat State Petroleum Corporation Ltd.

Between 2000 and 2004, Patel worked closely with several central and state high-level committees, such as, Task Force on Direct Taxes, Finance Ministry, Advisory Committee (on Research Projects and Market Studies), Competition Commission of India, secretariat for the Prime Minister s Task Force on Infrastructure, Group of Ministers on Telecom Matters, Committee on Civil Aviation Reforms, Ministry of Power's Expert Group on State Electricity Boards and High Level Expert Group for Reviewing the Civil & Defence Services Pension System.

Patel has authored technical publications, papers and comments in the areas of Indian macroeconomics, public finance, infrastructure, financial intermediation, international trade and the economics of climate change.

PM congratulates P V Sindhu on winning Silver at Rio Olympics

The Prime Minister, Shri Narendra Modi has congratulated P. V. Sindhu on winning Silver medal in Badminton at Rio Olympics. 

“Congrats for the Silver, P V Sindhu. Very well fought. Your accomplishment at Rio 2016 is historic and will be remembered for years. ”, the Prime Minister said. 

Sports Minister Congratulates P V Sindhu on her historic Success at Rio

Minister of State for Youth Affairs and sports(I/C) shri Vijay Goel has congratulated P V Sindhu and her Coach P. Gopichand for their historic success at the ongoing Rio Olympics. In a statement here today he said, PV Sindhu’s exemplary success to win Silver medal at this young age in Olympics is the result of her hard work, dedication and perseverance. Shri Goel said, credit for this success goes to her parents too, who always stood by PV Sindhu and devoted their entire time and energy to make Sindhu realize her dreams. Shri Goel Said her creditworthy performance will inspire younger generations in all times to come as she went down contesting valiantly to world number one and two-time world champion Carolina Marin of Spain. Her efforts to bring glory to the country in an individual event are laudable.

Recalling the meeting of the Prime Minister Shri Narendra Modi with P V Sindhu during the send-off ceremony organised for the Rio bound players in New Delhi, the sports minister said Shri Modi was keenly following the progress of PV Sindhu at Rio right from her first match. He said under the overall guidance of Shri Modi, Sports Ministry will shortly launch preparations for Tokyo Olympics 2020 in the right earnest.

Shri Goel said Sakshi Malik, Deepa Karmakar and PV Sindhu have scaled new heights in their careers at Rio Olympics and shown to the world the real capability and exemplary courage of the daughters of India.

Really happy to win a silver, says Sindhu

 Rio de Janeiro, Aug 19 (PTI) P V Sindhu today said she is happy to win a silver in the women's singles badminton event after her gallant attempt to win a coveted gold for India ended in heart-break at the Rio Olympics here today.

"I ended up with silver medal but am really happy," said Sindhu moments after losing her final clash 21-19 12-21 15-21 against two-time World Championship Marin here.

"I'm really proud about it. I'm really happy. I could not win the gold. But I really worked hard. It was anybody's game.

"A day before a girl has got a bronze, it's me now. We have all played well. There will be ups and downs in sport like in life. Losing one or two points. I would like to congratulate everyone. It's been a great week for me."

Sindhu also praised Marin on her Olymic gold.

"I also congratulate Carolina. It's been a wonderful week for me. It's anybody's aim to win a medal at the Olympics."

Talking about the final match, Sindhu said: "In today's match both players were attacking and playing aggressive on court. One has to win and one has to lose. It was her day on centre court today."

The 21-year-old from Hyderabad said bright days are ahead for Indian badminton.

"Future is good definitely. There are are many players coming up, and many more will succeed. Badminton is doing really well in India. In mens's singles Srikanth lost very closely," she said.

Badminton: Sindhu raises Indian hopes of first gold

 Pusarla Sindhu sent Indian fans into a frenzy by blasting through Japan's Nozomi Okuhara to reach the gold medal decider for the women's singles at the Olympic badminton on Thursday.

With a huge contingent of home fans roaring "Go India, go!", the 21-year-old Hyderabadi gradually wore down sixth-ranked Okuhara before charging to an emphatic 21-19 21-10 victory at the Riocentro.

Sindhu will meet Spanish top seed Carolina Marin, who hammered China's reigning champion Li Xuerui 21-14 21-16 in the early semi-final.

SBI board clears merger of 5 associate banks, BMB with itself

 New Delhi, Aug 18 (PTI) In a bid to create global size bank, the board of State Bank of India today approved scheme of merger of five associate lenders and Bharatiya Mahila Bank (BMB) with itself while protecting the interest of the existing staff.

"The central board of directors of SBI has accorded its approval to the scheme of acquisition of the State Bank of Bikaner & Jaipur (SBBJ), State Bank of Mysore (SBM), State Bank of Travancore (SBT) and Bharatiya Mahila Bank Limited (BMBL) by the State Bank of India," SBI said in a regulatory filing to stock exchanges.

Later, in an update, it also approved separate schemes of acquisition of State Bank of Patiala (SBP) and State Bank of Hyderabad (SBH) with SBI.

As per the merger proposal, SBBJ shareholders will get 28 shares of SBI (Rs 1 each) for every 10 shares (Rs 10 each).

Similarly, SBM and SBT shareholders will get 22 shares of SBI for every 10 shares.

There will not be any share swap or cash outgo as SBH and SBP are wholly-owned by the SBI.

In the case of Bharatiya Mahila Bank, 4,42,31,510 shares of SBI will be swapped for every 100 crore shares of face value of Rs 10 each.

As per the merger proposal, the pay and allowances of the staff of the merging bank will be protected and "shall not be less favourable overall as compared to what they would have drawn".

Also, benefits of the retired employees will be protected, it said.

President of India Congratulates Ms. Sakshi Malik

The President of India, Shri Pranab Mukherjee has congratulated Ms. Sakshi Malik for winning a Bronze Medal at the Rio Olympics. 

In a message sent to Ms. Sakshi Malik, the President has said, “I am extremely happy to hear of your success in winning the Bronze Medal in women’s wrestling 58 kg category at the 2016 Rio Olympics. You are the first ever Indian female to claim a medal in wrestling at the Olympics. 

Please accept my hearty congratulations and best wishes on this accomplishment, which has done India proud and ensured that our flag flies high in the international arena. 

I wish you continued success in all future endeavours”. 

PM congratulates Sakshi Malik on winning Bronze in Rio Olympics

The Prime Minister, Shri Narendra Modi has congratulated Sakshi Malik on winning Bronze medal in Wrestling in Rio Olympics. 

“Sakshi Malik creates history! Congratulations to her for the Bronze. The entire nation is rejoicing. 

On this very auspicious day of Raksha Bandhan, Sakshi Malik, a daughter of India, wins a Bronze and makes all of us very proud. 

Sakshi Malik will inspire several sportspersons in the years to come.”, the Prime Minister said. 

Indian Railways' Employee Sakshi Malik brings India's first much awaited Olympic medal at Rio Olympics 2016

Indian Railways’ employee Sakshi Malik has won the first Olympic medal at Rio Olympics 2016 for the country. Minister of Railways Shri Suresh Prabhakar Prabhu, Minister of State (Independent charge) for Communications & Minister of State for Railways Shri Manoj Sinha and Minister of State for Railways Shri Rajan Gohain have congratulated her for making the country proud by her achievement. Entire Indian Railways fraternity is also feeling proud today, as Indian Railways has brought laurels for the nation. Sakshi Malik won the Olympic Bronze medal in 58 kg category of women’s freestyle wrestling. Sakshi Malik also created history by becoming the first ‘women wrestler’ from India to bag an Olympic medal. Gritty women wrestler, Sakshi Malik ended India’s anxious wait for a medal by clinching the bronze in the 58 kg category, pulling off a sensational 8-5 victory over Alsuluu Tynybekova of Kyrgyzstan.