Daily Current Affairs : 5th October 2013

1. Indo-Bangladesh cooperation in the power sector entered a new phase, with the two countries breaking ground for a 1,320-MW coal-fired power plant and inaugurating a joint transmission line that will export 500 MW from India. A memorandum of understanding had been signed during Ms Hasina's 2010 Delhi visit for import of power from India. The 'Maitri' thermal power project is being developed by the Bangladesh-India Friendship Power Company, a joint venture between NTPC and Bangladesh Power Development Board.

2. The National Bank for Agriculture and Rural Development has sanctioned Rs 40.35 crore for rural water supply scheme in the Union Territory of Puducherry under Nabard’s Rural Infrastructure Development Fund (RIDF).

3. Ushering in a new regime for overseas investments in Indian capital markets, Sebi today announced new foreign portfolio investor (FPI) regulations to put in place easier registration process and operating framework for such entities. The new class of investors, FPIs, would encompass all FIIs (foreign institutional investors), their sub-accounts and qualified foreign investors (QFIs), and would be divided in three categories as per their risk profile. The KYC (know your client) requirements and other registration procedures would be much simpler for FPIs compared to current practices. 

4. India's leading industrialist Ratan Tata will be formally inducted into the prestigious National Academy of Engineering in the US on Sunday for his "outstanding contributions" to industrial development in India and the world over.  Eight Indian-Americans also had been elected to the body earlier, considered among the highest professional distinctions accorded to an engineer.

5. Seeking to reduce the incidence of mortality from growing number of heart attacks in India and the US, a prominent body of Indian-American physicians has joined hands with a leading NGO fostering cardiac care in US.

6. India was re-elected in the new Council of International Civil  Aviation Organization (ICAO) as one of the states making the largest contribution to the provision of facilities for international civil air navigation.The 38th session of the Assembly of ICAO completed the election of the Council in Montreal on 1October 2013. The 36- member Council is the governing body of the Organization and is elected for a three-year term.

7. Janalakshmi Financial Services , a microfinance institution, has signed a five-year agreement with Accenture to scale-up operations and expand services to the urban poor. Under the agreement, Accenture will manage the microfinance body’s customer and account master data, provide processing, reconciliation and reporting services. It will also manage Janalakshmi’s core banking system, customer relationship management software, employee portal and Web site.

8. Corporation Bank has a new Chairman and Managing Director in S.R. Bansal. Prior to this elevation, Bansal was an Executive Director at Punjab National Bank.

9.  All-women Sharia Court starts functioning in Pune with an aim to redress the grievances of Muslim women. Set up here by Bharatiya Muslim Mahila Andolan (BMMA), the first all-women Sharia Court will deal with various family issues, including marital discord, divorce as well as property related disputes.

10. An Indian-American Sikh lawyer Gurbir Grewal has been nominated as a county prosecutor in New Jersey.Gurbir Grewal was formally nominated by Governor Chris Christie to be the next Bergen county prosecutor., a local media report said.

11. An Indian engineering student “Ashutosh Pathak” from the University of Nottingham fought off stiff worldwide competition to be awarded the overall prize at a British government-backed entrepreneurial contest. Ashutosh Pathak is working on developing a much cheaper, more efficient pipe inspection and leakage detection system. 

12. Veteran director Shyam Benegal will head the accomplished jury for the Seventh Asia Pacific Screen Awards (APSA) to be held in Brisbane on December 12. The announcement was made by the APSA executive chairman Michael Hawkins in Busan on Friday.

13. Much-awaited pilgrimage for holy shrine Kedarnath resumed today.

14. Bopanna, Roger-Vasselin in Japan Open final.

Note: If any important news left, you may add on in comment :)