11th and 12th November 2015 current affairs / Gk / GA: Union Govt issues notification for OROP implementation.
The notification is in tune with the modalities for implementation announced on 5 September 2015.
Features of OROP scheme :
- Pension will be re-fixed for all pensioners retiring in the same rank and with the same length of service as the average of minimum and maximum pension in 2013.
- The benefit will be given with effect from 1 July 2014 to the ex-service men of all the three forces.
- Those drawing pensions above the average will be protected.
- In future, the pension would be re-fixed every 5 years.
- Arrears will be paid in four half-yearly instalments.
- All widows, including war widows, will be paid arrears in one instalment.
- Personnel who voluntarily retire will not be covered under the scheme.
- The estimated cost to the exchequer would be 8000 to 10000 crore at present, and will increase further in future.
Jayant Sinha plans to meet Chief Executives of state run banks every 45 days.
- The move comes at a time when public sector banks are witnessing increasing pressure on asset quality, which is eroding their capital and profitability.
- This meeting is in addition to the meeting with the Union Finance Minister, which takes place every quarter, primarily to review the quarterly performance of banks.
Indiabulls Housing Finance Ltd (IHFL) acquires 40 percent stake in OakNorth Bank of UK.
- Sameer Gehlaut led Indiabulls Housing Finance Ltd. (IHFL) has acquired a 40 per cent stake in OakNorth Bank of the U.K. for $100 million, making it the largest shareholder of a full service universal bank.
- The investment has been identified and approved by the Strategic Investment Committee for Liability Franchise Develop- ment, headed by K. C. Chakrabarty, an independent director on the board and ex-Deputy Governor of the Reserve Bank of India.
Rhythm and Blues legend Allen Toussaint died at the age of 77 after suffering two heart attacks.
- The legendary New Orleans R&B songwriter and producer, known for hit songs such as ‘Working in the coalmine’ and ‘Southern Nights’ — suffered a heart attack shortly after performing on stage at Madrid’s Teatro Lara , according to Spanish newspaper El Mundo.
SC upheld Kerala Govt’s ban on online lottries.
- A bench headed by CJI H L Dattu deleivered the judgement while hearing the All Kerala Online Lottery Dealers Association Vs State of Kerala & Ors. case in which Sikkim Government is also one of the petitioners opposing the ban.
- While upholding the ban, the bench stated that lottery is a form of gambling and it was condemned as a vice by the Rigveda, Smritis and Arthashastra.
SBI announces partnership with Emirates NBD.
- A leading UAE-based bank has announced a partnership deal with State Bank of India to help NRI customers in the gulf to carry out their remittances instantly and more conveniently.
- Emirates NBD has expanded its partner bank network in India to include SBI for the DirectRemit 60 seconds remittance platform.
- With this partnership, the bank’s NRI customers who also bank with SBI can now avail themselves of the fastest remittance service in the UAE more easily.
Railways Ministry issues Letter of Award to GE Global Sourcing India Pvt Ltd.
- Ministry of Railways issued a Letter of Award (LoA) to USA-based GE Global Sourcing India Pvt Limited for setting up of Diesel Locomotive Factory (DLF) at Marhowra, Saran district, Bihar and for procurement and maintenance of mainline Diesel Electric Locomotives.
- With this, a Joint Venture Company between Union Ministry of Railways and GE Global Sourcing India Pvt Limited will be formed soon to construct and run the factory.
- The factory will manufacture modern diesel electric locomotives of 4500 HP and 6000 HP to Indian railways.
Belgian court ordered FB to stop tracking non members.
- Belgium Court asked Facebook to stop tracking the country’s Internet users who are not members of the US-based social networking website.
- It gave 48 hours to the social networking site to stop tracking people in Belgium.
- The ruling was pronounced on a case lodged in June 2015 by the Belgian Privacy Commission, which said Facebook indiscriminately tracks Internet users when they click like or share on the website.
- It said that the site uses a special cookie called Datr that lodges on internet users’ device to track their activities.
Richard Proud Chaired Independent Commission on Doping in Sports submits its report to WADA.
- Richard Proud-chaired Independent Commission (IC) on Doping in Sports submitted its report to the World Anti-Doping Agency (WADA).
- The report was submitted on 9 November 2015 in Vienna, Switzerland.
- WADA launched the IC in December 2014 to investigate the validity of allegations of doping practices, corrupt practices around sample collection, results management, etc that implicate Russian Government agencies, labs, athletes, coaches among others.
- The allegations were based on a documentary titled Top Secret Doping: How Russia makes its Winners that was aired by the German television channel ARD.
Barabati Stadium of Odisha excluded from BCCI’s new Test venues.
- Board of Control for Cricket in India (BCCI) on 9 November 2015 excluded Barabati stadium in Cuttack, Odisha from the list of newly declared Test venues.
- Barabati Stadium was excluded from the list after Cricket fans hurled plastic bottled onto the ground forcing the match referees to stop the match for some time.