DAILY CA UPDATE 10th NOVEMBER 2015

DAILY CA UPDATE 10th NOVEMBER 2015

Union Government signs MoU with ADB

    DAILY CA UPDATE 10th NOVEMBER 2015

  • In order to continue the rural connectivity investment programme under which roads are constructed in the rural areas of states of Assam, Chhattisgarh, Madhya Pradesh, Odisha and West Bengal, the Union Government has signed an agreement with the Asian Development Bank for a sum of $273 million
  • The investment by the Asian financial institution is the third tranche of the investment of $800 million financing facility under the programme as it will help in constructing over 6000 kilometers of rural roads benefitting over 4200 households
  • Apart from being invested in constructing roads, the investment will also be used for designing roads, research and development for all weather roads in rural areas

Belgian Court asks Facebook to Stop Tracking Non-Members

    DAILY CA UPDATE 10th NOVEMBER 2015

  • In a win-win situation for the Right to privacy in the world,. A court in Belgium has directed the social networking site Facebook to stop tracking its members indiscriminately in the country
  • The court has passed the ruling in a case lodged by the Belgian Privacy Commission which said that Facebook tracks everybody without discriminating between users and non-users of the site
  • The US-based social networking giant has been asked to comply with the order within the next 48 hours failing which it will attract a penalty of $269000 by the court

Nigeria wins FIFA U-17 World Cup

    DAILY CA UPDATE 10th NOVEMBER 2015

  • Nigeria has been emerged as the winners of the FIFA U17 World Cup held in Chile
  • The champions defeated Mali in the finals by the margin of 2-0

Digitization of Indian Army Initiative Launched

    DAILY CA UPDATE 10th NOVEMBER 2015

  • In an effort to digitize the Indian Army and convert it from a platform centric force to a network centric one, the Ministry of Defence has decided to launch three initiatives that will help in achieving this objective
  • The initiatives that have been taken are digital locker facilities for the Indian Army, Software Data Centre and also an Army Cloud network as these initiatives will help in making the Army a more technology oriented one
    Army Cloud will help all the commands of the army to share data on the central level as everything will be digitized whereas the software data centre has been conceived as the backup for the cloud technology.
  • The digital locker facility will enable the various quarters of the Army to cooperate between themselves so that the coordination remains vibrant and effective

Justice AP Shah is the new Ethics Ombudsman of BCCI

    DAILY CA UPDATE 10th NOVEMBER 2015

  • In order to eradicate all the issues plaguing the Indian cricket related to conflicts of interest, the Board of Control for Cricket in India has decided to appoint Justice AP Shah as the new Ethics Officer (Ombudsman) of the richest cricket board in the world
  • The new ombudsman will take care of all the issues related to conflicts of interest in Indian cricket as part of a clean-up drive for the Indian cricket
  • The step has been taken after the image of BCCI got tarnished in the 2013 IPL Match-fixing scandal which forced the board to appoint Justice Mukul Mudgal Committee based on the views of which the board has recently decided to suspend Chennai Super Kings and Rajasthan Royals from the IPL for 2 years

Barabati Stadium not to host tests any more

    DAILY CA UPDATE 10th NOVEMBER 2015

  • Barabati Stadium in Odisha has been excluded in the new list of test venues published by the Board for Control of Cricket in India
  • The decision has been taken on the back of unwelcome behavior by the spectators there during the 2nd T20 match against South Africa there. Umpires had to stop the match for some time as the spectators started hurling bottles at the players because of the poor batting display by the Indian side in the match
    However. Vizag, Ranchi, Indore, Pune, Dharamsala and Rajkot have been accorded the status of test venues by the board in its recent list of test venues in India

WADA Anti-Doping Committee chaired by Richard Proud submitted its Report

    DAILY CA UPDATE 10th NOVEMBER 2015

  • The independent commission constituted by the World Anti Doping Agency has published its report regarding the corrupt practices in sports and also the doping methodology in various sports
  • The committee has been given the responsibility to submit the report in December 2014 with a timeline of 1 year to submit the report. The chairman of the committee was Richard Proud
  • The committee suggested that Russian Anti Doping Agency should be declared as code non compliant as Russian sportspersons are mostly found in indulging in doping and the Moscow based laboratory should be banned to stop this. Along with this, the All-Russian Athletic Federation should also be banned by WADA
  • The committee gave its seal on the fact that actually doping takes place in various sports in the world and the systematic eradication of the menace should be the way forward for the World body

India re-elected as the Member of UN Commission on International Trade Law

    DAILY CA UPDATE 10th NOVEMBER 2015

  • India has been re-elected as the member of UN Commission on International Trade Law as the country will now continue to be a member of the world body till 2022
  • The world body has been instrumental in resolving all the legal issues related to international trade and is one of its kind in the world as of now
  • India has never been defeated in the elections in this body

OECD Pegs India’s Growth at 7.2%in 2015-16

  • The Organization for Economic Cooperation and Development has predicted that India will grow at a rate of 7.2% in the current financial year whereas for the next financial year, the growth is expected to be 7.3% which will further increase in the year 2017-18 to 7.4%
  • The organization has downgraded the growth projections for Global Economy as well because according to OECD, global economy will grow at a rate of 2.9% in the current financial year as the world economy is still recovering from the shocks of Euro Crisis and also the US economy is yet to recover