1. Nawaz Sharif: The Lion of Punjab roars in Pakistan
i. Nawaz Sharif, known as the 'Lion of Punjab' who has promised to restart peace process with India and is set to be elected for a third innings as Pakistan Prime Minister.
ii. Pakistan is yet to officially declare Nawaz Sharif's Pakistan Muslim League (PML-N) victorious in the country's general elections, but the man set to be the new Prime Minister and India's Manmohan Singh already seem keen to move forward on the dialogue process.
iii. Even as the PML-N looked set to emerge as the single-largest party in the national assembly, Mr Sharif said, "We have to restart our journey (from 1999). So whether India invites me or not, I will visit India."
iv. A steel tycoon cum politician, Mr Sharif has made an astounding comeback after being
toppled in a 1999 coup, jailed and exiled to spend seven years in wilderness.
toppled in a 1999 coup, jailed and exiled to spend seven years in wilderness.
v. While votes from Saturday's historic general elections were still being counted, Mr Sharif claimed victory at the headquarters of his centre-right Pakistan Muslim League-N (PML-N).
vi. He managed to swim through cricketer-turned-politician Imran Khan's "tsunami" as his Pakistan Tehreek-e-Insaf (PTI) had a projected win of only 34 seats.
vii. The 63-year-old has promised to transform the country's economy, end corruption in state-owned enterprises, build a motorway from Lahore to Karachi and launch a bullet train.
About Nawaz Sharif:
i. Mian Muhammad Nawaz Sharif born 25 December 1949) is a Pakistani politician and industrialist, previously having been Pakistan's 12th Prime Minister for two non-consecutive terms from November 1990 to July 1993 and from February 1997 to October 1999.
ii. Sharif is the President of Pakistan Muslim League-N, one of Pakistan's largest political parties.
iii. As the owner of Ittefaq Group, a leading business conglomerate, he is also one of the country's wealthiest men.
iv. He was appointed Chief Minister of Punjab by Zia in 1985.
v. After Zia's death and Benazir Bhutto's being elected Prime Minister in 1988, Sharif emerged as opposition leader from the conservative Pakistan Muslim League.
vi. When Benazir was dismissed by President Ghulam Ishaq Khan in 1990 on corruption charges, Sharif was elected Prime Minister the same year.
vii. Sharif's become P.M. in 1997 but his second term also saw tussles with the judiciary and army.
On 12 October 1999, the army instead ousted Sharif's government exiling him to Saudi Arabia.
viii. Sharif returned in 2007, and his party contested elections in 2008 forming the provincial government in Punjab under Sharif's brother Shahbaz until 2013.
2. Will be 'very happy' if India PM attends swearing-in: Sharif
i. Pakistan's incoming prime minister Nawaz Sharif said on Monday that he would be "very happy" to invite India's Manmohan Singh to his swearing-in ceremony. "I will be very happy to extend that invitation.
ii. "I had a call from him yesterday. We had a long chat on the phone and then he extended an invitation to me and I extended an invitation to him.
iii. "We will be very happy to invite him, whether he will come or not is a different issue but I hope that he will visit Pakistan soon," Sharif added at the family's sprawling estate, just outside the eastern city of Lahore
iv. India's premier on Sunday congratulated Sharif on his victory in Pakistan's landmark elections on Saturday and expressed the hope for better relations.
v. Manmohan Singh said he hoped to work with Sharif to chart "a new course" between the countries and invited him to "visit India at a mutually convenient time".
vi. Relations between the two countries have been fractious in recent weeks, with both sides protesting at the deaths of prisoners held by the other's government.
3. Retail Inflation declined to 9.39 Percent in April 2013
i. Retail inflation declined to 9.39 per cent in April because of reduction in prices of vegetables, edible oil and protein-based items as per the data released on 13 May 2013.
ii. Retail inflation which is based on the Consumer Price Index (CPI) stood at 10.39 per cent in March 2013.
iii. The prices in the vegetables basket reduced to 5.43 per cent in April 2013 from 12.16 per cent in March 2013. Inflation in egg, meat and fish was registered at 13.60 per cent during April 2013.
iv. In oils and fats segment, inflation stood at 7.52 per cent.
v. Among all the constituents that constitute the CPI, cereals saw the highest inflation of 16.65 per cent in April 2013.
vi. In urban areas, retail inflation fell to 9.73 per cent in April 2013 from 10.38 per cent in March 2013. The CPI for rural population declined to 9.16 per cent during April 2013 from 10.33 per cent in March 2013.
4. K.Siddaramaiah sworn-in as K'taka CM
i. K. Siddaramaiah, who led the Congress party to victory in the Assembly elections in Karnataka was sworn in as the 22nd Chief Minister on Monday.
ii. He was sworn in by Governor H R Bhardwaj at a ceremony at Sri Kanteerava Stadium inBangalore.
iii. Siddaramaiah was elected as the leader of Congress Legislature Party, at the meeting of the newly elected MLAs in Bangalore on Friday
5. RBI gears up for plastic notes as 20% paper bills get soiled
i. As the Reserve Bank gears up for a trial of plastic currency notes, it has to dispose of soiled paper currency bills worth an estimated amount of over Rs two lakh crore a year.
ii. On an average, one out of five paper notes in circulation (over 20 percent) gets disposed of every year after getting soiled and the number of such soiled currency bills stood at over 13 billion units during the fiscal ended 31st March 2012, as per the latest data available with RBI.
iii. The figures are not yet available for the last fiscal 2012-13, but the number of soiled currency notes has remained above 13 billion for at least three financial years.
iv. As per the RBI data, the total value of all currency notes in circulation stood at over Rs 10.5 lakh crore at the end of financial year 2011-12.
v. However, soiled notes valued at an estimated amount of Rs 2.05 lakh crore had to be moved out of circulation by RBI during that fiscal.
vi. RBI Governor D Subbarao had said that the central bank is trying to introduce plastic currency, as they have longer shelf life.
vii. In India, the RBI is planning to introduce one billion pieces of Rs 10 notes in polymer or plastic on a trial basis in Kochi, Mysore, Jaipur, Bhubaneswar and Shimla, although a timeline is yet to be decided.
6. RBI’s projected 5.7% GDP growth for 2013-14
i. The RBI’s has projected a GDP growth for 2013-14 at 5.7% as against finance ministry’s projection of 6.1%- 6.7%.
ii. Indian economy grew by 5% in 2012-2013 on account of poor performance of manufacturing, agriculture and services sector.
iii. RBI’s current assessment is that economic activity will remain subdued and will only show a modest pick-up in second half of 2013-14, subject to appropriate conditions in the later part of year.
7. NABARD inaugurated first Farmers’Club in kargil
Kargil got its first Farmers’Club, as NABARD inaugurated Trespone Farmer’s Club at Trespone TSG Block in the district.
What is Farmers’ Club (FCs) ?
i. Farmers’ Clubs (FCs) are grassroot level informal forums of farmers.
ii. Such Clubs are organized by rural branches of banks with the support and financial assistance of NABARD for the mutual benefit of the banks concerned and the village farming community/rural people.
iii. With the enhancement of the programme, other agencies like NGO, VAs, KVKs, SAUs etc. are also now included as agencies included in the formation and promotions of FCs.
NOTE: i. The Farmers’ Clubs programme which was earlier known as “Vikas Volunteer Vahini (VVV) Programme” was launched by NABARD in 1982.
ii. The programme was directed towards development in rural areas through credit, technology transfer, awareness and capacity building.
iii. The “VVV Programme” was renamed as “Farmers’ Club Programme” in 2005 by revisiting its earlier mission.
How a bank is benefitted by opening FCs?
FCs concept is a win-win situation for both the banker and the borrower. As per a study, the following benefits were accrued to a bank branch operating FCs:
i. Increase in deposits.
ii. Increase in the credit flow and diversification of lending.
iii. Increase in the recoveries and decline in the non-performing assets.
iv. Reduction in the transaction costs of financial institutions/ Banks.
v. Socio economic development of the village.
8. National Stock Exchange(NSE) launched Debt Trading Platform
i. National Stock Exchange, the Leading bourse on 11 May 2013 launched the country’s first dedicated debt trading platform.
ii. The new Platform launched is awaiting the market regulator SEBI’s guidelines for allowing participation of mutual funds, insurance companies and pension funds.
iii. NSE had recently received approval from SEBI to launch the debt segment.
Function of the Debt Trading Platform
i. The debt trading platform is supposed to provide retail investors an opportunity to invest in corporate bonds on a liquid and transparent exchange platform.
ii. Banks and primary dealers are the first to enter and they will provide enough liquidity in the debt segment.
iii. he mutual funds, insurance companies and pension funds are also expected to participate after guidelines for the same are issued.
NOTE: The Debt Trading exchange platform is an innovation, which has been launched after intensive feedback from market participants. It is similar to RBI’s NDS-OM, where Government securities are traded on a transparent platform
9. Gold coins bearing Sachin's face, signature launched
i. A limited edition Sachin Tendulkar gold coins, with the senior cricketer's face and signature embossed on them, were launched today on the auspicious day of 'Akshaya Tritiya'.
ii. Valuemart Gold and Jewels launched one lakh Sachin Tendulkar gold coins, each weighing 10 grams
iii. The 24 karat gold coin is priced at Rs. 34,000 and will be available on and leading jewellery stores across the country.
iv. The company had signed up Tendulkar as its brand ambassador for a three-year period in February this year.
10. Lalu Prasad hires 13 trains for his Patna rally
i. Indian Railways got a boost to its business, thanks to former railway minister Lalu Prasad, whose party Rashtriya Janata Dal, has hired 13 special trains to ferry workers and supporters to Patna for his Parivartan in Patna on May 15.
ii. Over the past week, the Rashtriya Janata Dal (RJD) chief and his top party leaders have been busy mobilising supporters to reach Patna for the rally by the special trains.
iii. "Please, come with sattu, litti-chokha, chura and gur, (all edible things) to the Parivartan (change) Rally in Patna.
iv. We will arrange free drinking water for all of you," Lalu Prasad has been appealing, in chaste Hindi, and sometimes in Bhojpuri and other local dialects.
v."RJD is paying Indian Railways for booking the special trains," RJD senior leader Ram Kirpal Yadav, considered close to Lalu Yadav, said. "The railways will earn a hefty amount for running the trains. It is not free of cost."
NOTE: When Lalu was railway minister in 2007, the RJD booked 35 trains for his Chetawani (warning) Rally in Patna.
11. Moyes to replace Ferguson as ManU boss
i. Manchester United handed David Moyes one of the most coveted and toughest jobs in world football - replacing Alex Ferguson as manager of the 20-time English champions.
ii. The 50 year-old Moyes is leaving Everton to replace Ferguson, who announced yesterday that he is retiring after nearly 27 years at Old Trafford.
iii. United said Moyes was given a six-year deal and will take charge of the newly crowned Premier League champions from 1st July.
iv. Moyes is replacing the most successful manager in British football history, with Ferguson producing 13 of United's 20 English titles and a string of other titles, including three European Cups.
12. Serena & Nadal wins Madrid Open
i. Serena Williams retained her Madrid Open title on Sunday with a devastating display to beat world number two Maria Sharapova 6-1, 6-4.
ii. The title is Williams' 50th of her singles career and extends her amazing run over Sharapova who she hasn't lost to in 12 meetings since 2004.
iii. In the Men's Singles title clash of the Madrid Open World Number Five Nadal defeated Swiss Stanislas Wawrinka, in straight sets, 6-2, 6-4.
iv. Spain's Rafael Nadal has clinched his fifth title in seven tournaments since returning from a seven-month knee injury layoff.
13. Rajasthan Royal beat CSK by 5 wickets
i. Rajasthan Royals beat Chennai Super Kings by five wickets in their IPL match which was held in Jaipur on Sunday.
ii. Chasing 142 for a win, Rajasthan lost three wickets -- Ajinkya Rahane (9), James Faulkner (1) and Sanju Samson (0) -- inside five overs before Watson played a blistering knock of 70 from just 34 balls with the help of six fours and as many sixes to end the match in dramatic fashion with 17 balls to spare.
iii. Stuart Binny, who chipped in with a 23-ball unbeaten 41, ended the match in style with a six off Ravindra Jadeja as Rajasthan reached 144 for five in 17.1 overs.
iv. Rajasthan also kept intact their unbeaten record at home this season. They ended their home matches on Sunday with an all-win record, the first team to do so this season.
14. Barcelona win Spanish title for 22nd time
i. Barcelona's fourth La Liga title in five seasons - and the 22nd of their history - was confirmed after Real Madrid could only manage a 1-1 draw with Espanyol.
ii. Espanyol took advantage of Jose Mourinho resting a host of first team players in the first half ahead of Real's Copa del Rey final with Atletico Madrid on Friday.
iii. However, after the introduction of Cristiano Ronaldo in the second-half, Madrid rallied and were level when Gonzalo Higuain flicked home Luka Modric's free-kick just before the hour mark.
15. Alonso thrills Spain with stylish win
i. Two-time champion Fernando Alonso thrilled a massive 95,000 flag-waving home crowd on Sunday when he drove his Ferrari to a dominant victory at the Spanish Grand Prix.
ii. It was the Spaniard's second win of the season, in five races, and the 32nd win of his career - a triumph that endorsed his challenge for a third drivers' title on an afternoon of Spanish supremacy at the Circuit de Catalunya.
iii. Driving with great aplomb, Alonso delivered a beautifully-judged performance to win a tactical contest dominated by tyre-wear management, finishing 9.338 seconds ahead of second placed Finn Kimi Raikkonen of Lotus.
iv. Alonso's Ferrari team-mate Brazilian Felipe Massa started from ninth, but finished third ahead of defending triple world champion Sebastian Vettel and his Red Bull team-mate Mark Webber.