28th Feb : Today's Poster !!!!!

28th Feb : Today's Important NEWS !!!!!!

1)SC stays release of 4 Rajiv case convicts

2)Kedarnath shrine to reopen on May 4

3)AAP gets innovative to raise 300 crore

Next time you think of donating money to the Aam Aadmi Party, you can do so using your mobile phone. This is just one of the many innovative strategies the party has come up with to meet its target of raising Rs.300 crore for its Lok Sabha poll debut.Raising funds by collaborating with telecom service providers, putting swipe machine at party offices for prospective donors and the option of donations in instalments are high on the fund-raising strategy of the party.AAP fund raising team member Kumar Gaurav told The Hindu that the strategy — online donations and meetings with entrepreneurs — through which AAP raised funds for its Delhi Assembly campaign is now being extended across the country.“Two things are on our priority list — to make the donation process as hassle free as possible and to tap every bit of enthusiasm among the people who wish to see a change in the country by asking them to help us by donating in whatever small way possible,” Mr. Gaurav said, adding the party is in talks with telecom service providers for creating a payment gateway.The party has also started an “I Fuel Swaraj” campaign, inviting volunteers to help it raise funds. As part of the campaign, the AAP has asked people to join the fund-raising team and each member of the team will be given a deadline to raise a target amount.

4)Electric passenger bus comes to Bangalore

BMTC, Utopia join hands for initiative
The electric bus inaugurated in Bangalore promises emission-free transport.— Photo: K. Bhagya PrakashIn a first-of-its-kind in the country, an electric passenger bus, with zero emission level, was inaugurated by Transport Minister R. Ramalinga Reddy here on Thursday.An initiative taken up by Bangalore Metropolitan Transport Corporation (BMTC), in co-ordination with Utopia, the air-conditioned 31-seat coach has a range of 250 km with a full battery charge (four to six hours).The BMTC will operate the bus on trial basis for three months between Kempe Gowda bus depot and Kadugodi. It will be used on other routes subsequently.With a battery capacity of 324 kWhr, the bus can make about eight trips on the route, with a full charge. A battery charging station has been set up at Depot 7 in the Majestic area.Mr. Ramalinga Reddy said that with zero emission level the bus will be eco-friendly. “The bus will run on free trial basis for the first three months, following which the BMTC will decide on its purchase. The passenger fare will be equivalent to the Volvo bus fare,” he said.Cost Rs 2.7 croreHe said that the bus is expected to cost Rs 2.7 crore. The bus, manufactured by BYD Auto, has two sliding doors and two roof hatches which could serve as emergency exits and two CCTV cameras in the saloon area.Apart from this, there is a small hammer attached next to the windows for every row on either side for passengers to break open the glass in case of emergencies.The battery management system also monitors the voltage and temperature of the electric cells to ensure safety.BMTC managing director Anjum Parvez said that the bus comes with a fire detection system. “There are sensors that will detect a spark or smoke and this will be automatically indicated on the dashboard to alert the driver,” he said.About tinted glass on the bus, Mr. Parvez said that the model is manufactured that way but if the BMTC decides to purchase it, specifications will be adhered to.There is a camera and electrically adjustable mirrors for rear viewing. There is also a ramp for wheelchair-bound passengers.

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The bus, manufactured by BYD Auto, will cost Rs. 2.7 croreWith full battery charge, the bus can run up to 250 km

5)To school and back — on boat

Children travel from Nellore to Tiruvallur every day

against all oddsStudents from Irukkam village in Andhra Pradesh travel by boat to study in schools in Tamil Nadu.— Photo: B. Jothi Ramalingam

While children travelling by bus or walking to school is common, here is a group that takes a boat from across the boundary.
Over 150 children of Irukkam, a coastal village of Nellore district in Andhra Pradesh, spend two hours every day travelling by boat across the Pulicat Lake to reach their schools in the Tiruvallur district of Tamil Nadu. Their families depend on fishing for a livelihood.
They study at government schools, panchayat union schools and a private school in the coastal villages of Sunnambukulam, Obasamudram, Arambakkam in the Gummidipoondi taluk of Tiruvallur.
Language preferences“Our village has only Telugu-medium primary schools. A majority of the families in Irukkam village are Tamil-speaking and are not familiar with Telugu. We want to study in Tamil schools. That is why we come to schools in Tamil Nadu,” says S. Prakash, a class X student of Government Higher Secondary School, Sunnambukulam.
Prakash has been travelling by boat right from class II and wants to pursue computer science engineering in a college in Tamil Nadu. There are many like him, including girls, who do not mind the distance and mode of transport. The youngest is Charumathi, a LKG student.
Risky rideThe boat ride comes with risks. Many children sit on the edges of the mechanised boat throughout the hour-long journey. They have to walk nearly 1.5 km to and from the shore, wading through ankle-deep water, even knee-deep water in certain places.
“We travel by boat for nearly seven km. Once we reach here, the children walk in water and it is sad to see their uniforms getting wet in the morning,” K. Sekar, boatman and resident of Irukkam, says. “There is 5 feet deep water throughout the travel. It becomes difficult when it rains midway.”
Everyday, the children’s journey begins at 7.30 a.m. from Irukkam, says Arun Kumar, a class VIII student. “We reach Sunnambukulam by 8.30 a.m. Our return journey starts at 5 p.m. We wait for all students to assemble before starting. We cannot come to school when it rains heavily.”
While students from class I to VIII pay Rs. 50 every month as boat charges, others XII pay Rs. 90.
Many students say they have got used to the boat ride. “We chat with friends, play games and also study on the way. It might be scary in the beginning, but gets accustomed to the routine within a few days,” G. Indhu, a class XI student adds.
Have they faced any dangerous situations? Yes, says Arun Kumar recounting how once they lost their direction due to fog and reached Maangodu, a nearby village. “Most of us know swimming,” he adds.
To live a day of these students, teachers of the Govt HSS Sunnambukulam visited Irukkam on Republic Day this year. “Some boys, especially those in classes X and XII, stay in the school hostel,” a teacher said.

6)Shankar Mahadevan’s song nominated for Honesty Oscars

Singer-composer Shankar Mahadevan is on cloud nine as Mujhse hogi shurvaat by I Paid a Bribe and the Shankar Mahadevan Academy has been nominated in the best activist anthem category of Honesty Oscars 2014.
A few days before the 86th Academy Awards, campaigning and advocacy organisation ONE and Accountability Lab started unveiling the nominations for Honesty Oscars 2014, an award that honours not Hollywood films, but the creative work of activists and organisations that fight global corruption. The awards will be handed over to those who get maximum number of votes and the winners will be announced on March 2, the night of the Oscars.
So far, three categories of Honesty Oscars have been unveiled — best visual effects, best activist in a leading role and the best activist anthem to honour original songs that have truly inspired audiences to learn about the fight against global corruption and join the movement, too.
“Our song has been nominated for the Honesty Oscar Awards! Please go to the link and vote ...,” Shankar tweeted on Thursday. The song is by the singer’s online music academy and ipaidabribe.com — Bangalore-based non-profit organisation Janaagraha’s initiative to tackle corruption. “Mujhse hogi shurvaat” has been sung by Mahadevan, Sukriti Kakar, Prakriti Kakar and Chetan Naik. The song has been co-composed by Soumil and Siddharth.

7)Tax-free bonds from HUDCO

Housing and Urban Development Corporation (HUDCO) plans to raise Rs.285.8 crore through the third tranche of tax-free bonds from Friday. The Finance Ministry had allowed HUDCO to raise Rs.5,000 crore through bonds in the current financial year, ending March 31. It has raised Rs.4,714 crore so far. The basic size of the issue is Rs.75 crore with an option to retain oversubscription up to Rs.285.8 crore. The issue would close on March 19. 

8)Probe sought into FEMA violations in forex derivative contracts

Banks accused of pushing the burden of suchlosses ‘unilaterally’ on exporters
In the wake of unforeseen problems encountered by the exporting community, a demand is now gaining ground for an investigation into foreign exchange derivative contracts.
The demand has picked up steam with a Member of Parliament dashing off a letter to the Prime Minister demanding a “comprehensive independent investigation into malafide dealings in inherently toxic derivatives, which have led to huge losses for exporting units”.
In his letter dated February 3, 2014, T. K. Rangarajan, a Member of Parliament, alleged that the hedging undertaken by banks on behalf of exporters “were done in flagrant violation of FEMA (Foreign Exchange Management Act) and the RBI (Reserve Bank of India) guidelines.’’ Asserting that such derivative contracts entered into with ‘brazen violations’ had led to losses, he accused banks of pushing the burden of such losses ‘unilaterally’ on the exporters.
Hedging “is the most basic recourse” exporters adopted to insulate themselves against vagaries of international marketplace, Mr. Rangarajan said. Banks undertook the hedging exercise on behalf of exporters. It was assumed that the intermediation of the banker would be directed to secure the interest of its charge — the exporter, he added. “However, it is now coming to light that banks had undertaken hedging which betrayed major irregularities and improprieties,” he alleged in his letter to the Prime Minister.
“The derivatives were inherently flawed, exotic and toxic products, which were responsible for the global meltdown,” he said. Mr. Rangarajan alleged that the bankers were aware of the ‘toxic nature’ of the derivatives. Yet, “they subordinated the interest of exporters to the profit of the foreign entities for commission for their respective banks,” he pointed out.
“Alleging grave financial misdemeanour by certain banks,” he urged the Prime Minister to institute a comprehensive investigation into the whole issue.

9)New CSR rules to come into force from April 1

Funds given to political parties will not count as corporate social responsibility activity
The much-awaited rules for the new ‘corporate social responsibility’ (CSR) regime were notified on Thursday, under which companies with sizable businesses would need to spend a minimum 2 per cent of net profit for the benefit of the society.
The CSR activities will have to be within India, and the new rules will also apply to foreign companies registered here.
However, funds given to political parties and the money spent for the benefit of the company’s own employees (and their families) will not count as CSR.
Listing out the permitted CSR activities, the government said that they needed to be undertaken as per approval of the company’s board in accordance with its CSR Policy and the decision of its CSR Committee.
The CSR rules will take effect from April 1, as part of the new Companies Act. They will apply to companies with at least Rs 5 crore net profit, or Rs.1,000 crore turnover or Rs.500 crore net worth.
Such companies will need to spend 2 per cent of their three-year average annual net profit on CSR activities in each financial year, beginning the next fiscal, 2014-15.
For the purpose of deciding the CSR spending eligibility of a company, profit from overseas branches and dividend received from other companies in India will be excluded from the net profit criteria.
Besides, contributions made ‘directly or indirectly’ to any political party have been excluded from CSR ambit.
The CSR policy of a company should also specify that “surplus arising out of the CSR projects or programmes or activities shall not form part of the business profit of a company.’’
A company can also carry out CSR works through a registered trust or society or a separate company.
As per the rules, a company may also collaborate with other companies for CSR activities, provided they have to separately report about spending on such projects programmes.
“The CSR activities shall be undertaken by the company, as per its stated CSR policy, as projects or programmes or activities (either new or ongoing), excluding activities undertaken in pursuance of its normal course of business”, according to the notification by the Corporate Affairs Ministry.
In an official release, Corporate Affairs Minister Sachin Pilot said the rules had been finalised after extensive consultations with all stakeholders.
A wide range of activities, including livelihood enhancement projects and steps for the benefit of armed forces veterans have been brought under the CSR ambit.
When it comes to having manpower for CSR works, the government has said that companies can spend only up to 5 per cent of total CSR expenditure for them in a single financial year.
This would be applicable for own personnel as well as those of their implementing agencies.
Among other activities, livelihood enhancement and rural development projects, promoting preventive health care and sanitation as well as making safe drinking water available would be considered as CSR activities. 

10)Building hostels for women, orphans comes under CSR

Setting up of hostels for women and orphans as well as efforts that benefit armed forces veterans, war widows and their dependents will come under the ‘Corporate Social Responsibility’ spending ambit.
With the government notifying norms for CSR spending by companies, Corporate Affairs Minister Sachin Pilot on Thursday said the rules had been finalised after extensive discussions with all stakeholders.
Besides setting up homes and hostels for women and orphans, setting up old age homes, day care centres and such other facilities for senior citizens would be considered as CSR activities by the government.

11)Solar-powered ATMs, telecom towers catching up

Solar energy, in a limited way, has started powering telecom towers, bank branches, data centres and ATMs in power deficient rural India and areas faced with erratic supply of grid power.
Companies providing equipment for power back-up and solar power producers have confirmed that this trend is catching up with support from government as well as telecom companies and banks which are opting for clean and uninterrupted energy.
“We are providing solar inverters of smaller ratings to ATMs. More than ATMs, our concentration is bank branches. At present, the adoption of solar power in the banking sector is at a nascent stage, but it is aggressively picking up,” Sunil Khanna, President and Managing Director, Emerson Network Power, told The Hindu .
Asked to quantify the number of ATMs running on solar power, he said: “It will be difficult to give a number, but one can expect solar power ATMs to populate Tier-3 and Tier-4 cities in the near future. We see great business potential in this sector going ahead. Some of the ATMs that are running are located in the rural areas of Uttar Pradesh and Bihar.”
He said in the banking sector there had been a shift from traditional data centres to data centres in a box which were cost-effective solutions and fell in the realm of ‘plug and play’. In rural areas, solar energy was being preferred to run data centres, he added.
Emerson Network Power, a part of $24.7 billion American conglomerate Emerson, is into back-up power system, among others.
More than banks, telecom companies have adopted solar energy to power telecom towers.
“At present, we are powering more than 20 telecom towers and by April1 2014, the number will go up to 40. From one micro solar power plant site, we are powering three towers of different companies,” Sushil Jiwarajka, Chairman, Omnigrid Micropower Co. Pvt. Ltd., told The Hindu . He said his company, a micro power producer, had been setting up solar power plants costing about Rs.75 lakh in inaccessible areas targeting telecom towers as anchor customers.
“We are providing surplus power to banks, schools, petrol pumps and even households in the locality to make our project viable,” he added. Omnigrid, which has now solar plants in Uttar Pradesh, is gearing up to enter Bihar, Jharkhand, West Bengal, North East, Madhya Pradesh and J&K which face acute power shortage.
Telecom Regulatory Authority of India’s (TRAI’s) requirement for telecom companies to use renewable sources of energy for powering 50 per cent of their telecom towers in rural areas is helping.

27th Feb : It's True !!!!!!!

27th Feb : Today's Poster !!!!!!!!!!!!

27th Feb : Today's Important NEWS !!!!!!!!!!

1)College fests enter the 1-crore club

Delhi University, where students clamour for concessions on bus passes and where fee structures are kept low to avoid putting students under financial strain, is now boasting college fests with budgets of up to Rs. 1.29 crore! And this is not all: on an average, colleges are spending anywhere between Rs.60 lakh and Rs.1 crore on their fests.Cultural fests in Delhi are no longer limited to inter-college music, dance and drama competitions. The cardboard cut-outs, tape-recorded music and hand-made decorations, have made way for glitz and glamour. From film personalities to reputed singers and high-profile politicians, varied crowd-pullers are being roped in by organisers.But where is the money for all this coming from?Mithun, a student in the “Corporate Communications Cell” of Shri Ram College of Commerce, has the answers. “We look for funds from small-time business to big companies. It is planned months in advance. We have a data base of contacts since we have been doing this for almost 40 years now.”For college fests that take place in March, when most companies close their marketing budgets, the cash inflow is higher, he says.While most colleges refused to come on record about the amount of money they have collected, they say that the payment to celebrities, which comes to between Rs.50 lakh and Rs.60 lakh, constitute almost 80 per cent of their spending.Kamala Nehru College, whose fest concluded last week, had performances by singers Hard Kaur and Kailash Kher.“We were celebrating our golden jubilee this year and so the budget was more than the usual,” says Geetesh Nirban, a teacher of Kamala Nehru College.Hindu College had singer Mohit Chauhan. Singer Arijit Singh caused a near-stampede in the all-girl Miranda House where director Imtiaz Ali and actor Alia Bhatt also made an appearance recently.Cultural fests in Delhi are no longer limited to inter-college music, dance and drama competitions

2)State likely to be spared of power cuts this summer

There is adequate storage in reservoirs now
Adequate storage in reservoirs is expected to help the State tide over the demand for power in summer. According to government sources, there may not be much of a need to resort to power cuts.The average daily power consumption in Karnataka is 188 million units (mu) now. Of this, 92 mu is generated by Karnataka Power Corporation Ltd. (KPCL), 42.03 mu is obtained from the Central generating stations, and 47.9 mu is from independent power producers.The KPCL could generate only around 77 mu around the same time last year.The contribution from hydro-electric projects is 40.27 mu now, while it was 33.9 mu last year . The water-level in Linganamakki, Supa and Varahi reservoirs, the source of water for Sharavathi, Kali and Varahi hydro-electric projects respectively, had reached maximum capacity in August owing to heavy rain in the catchment areas.On Monday, the water storage in Linganamakki reservoir was 1,789 ft against the maximum capacity of 1,819 ft. The storage in the reservoir on the same day last year was 1,787 ft. The storage level in the Supa reservoir constructed across the Kali was 551 metres on Monday, 11 metres more than that of last year.The sources said 25 million units a day was being produced at Sharavathi and around 13 million units a day at Kali. Even the daily power generation at Raichur Thermal Power Station (RTPS) and Bellary Thermal Power Station (BTPS) was also more compared with last year— around 31 million units at RTPS and 20 million units at BTPS.Of the eight units in RTPS, only six were functioning owing to shortage of coal. The agitation in Andhra Pradesh over the Telangana issue is said to be a reason for this.Meanwhile, the government has reduced the purchase of electricity from private sources through short and medium term power purchase agreements to 23 mu. It was 29 mu last year during this period.However, with the daily average power consumption in the State likely to exceed 200 mu in summer, power purchased through short and medium term agreements may go up.

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The average daily power consumption in Karnataka is 188 million units nowOf this, 92 mu is generated by Karnataka Power Corporation Ltd.

3)AAP seeks regulatory mechanism for opinion polls

Opposing a ban on opinion polls, the Aam Aadmi Party on Wednesday sought transparency and a regulatory framework for conduct of such polls. In case of dispute on the findings, the surveying agency should share raw data.“The Congress is scared that public opinion is not in its favour and would use this opportunity to ban opinion polls but that is not the solution to the big opinion polls scam that has been revealed in a television sting operation,” the party said.Alleging a “conspiracy to manipulate public opinion,” the party questioned the role of a section of media houses that “partnered the political conspiracy” and asked the News Broadcasters Standards Authority and the Editors Guild of India to conduct an enquiry into it.“The political conspiracy that challenges the very foundations of our democracy needs to be investigated,” the party said, demanding a criminal investigation by a Special Investigative Team.Addressing a joint press conference here with Yogendra Yadav and Prashant Bhushan, AAP convener Arvind Kejriwal raised doubts about a flurry of election opinion polls in the last few weeks that show successive higher seat projections for the BJP in the Lok Sabha election.“This is just as it was being done before the Delhi elections,” he said.If the sting was true it was “the darkest hour” for the media, he said and demanded that media houses should disclose their list of share holders, investors, lenders, annual financial statements and their political affiliations and any other business interests outside media.There is a conspiracy to manipulate public opinion: Kejriwal

4)Two deputy PMs for Sushil Koirala

Prime Minister Sushil Koirala on Tuesday expanded his Cabinet by swearing in 18 new ministers, two of them deputy Prime Ministers.
Bam Dev Gautam of the CPN-UML and the NC’s Prakash Man Singh are the two deputy PMs. While Mr. Gautam heads the powerful Home Ministry, Mr. Singh takes charge of the Ministry of Local Development. The Cabinet expansion was delayed for two weeks due to the two parties’ claim over the Home Ministry. The UML had refused to join the government without the portfolio.
After taking oath, the new ministers told mediapersons that they would facilitate the promulgation of the new Constitution within a year, a pledge that the two parties have made repeatedly. Dy. PM Gautam also said that the government would hold election for the local bodies – village and district councils and municipalities in six months.
Exactly two weeks after taking oath of office, Mr. Koirala administered the same to his new Cabinet colleagues – eight from his party, the Nepali Congress and the rest from his coalition partners, the CPN-UML – in the presence of President Dr. Ram Baran Yadav. There’s one Minister of State from the NC. With this induction, the Cabinet now has 21 ministers, including the deputy Prime Ministers. NC’s Dr. Ram Sharan Mahat had taken oath of office on February 11 along with Mr. Koirala. He is the Finance Minister, a portfolio he had held previously. Among the important portfolios, NC has kept Defence, Finance and Information and Communications while the UML has Foreign besides Home.
There are 11 news faces in the Cabinet – eight from the UML and three from the NC, including former deputy Speaker Chitra Lekha Yadav. Six of the UML ministers are not parliamentarians.

5)Apple releases security fix for Mac computers

Apple released a series of software patches for its Mac computers to fix what was described as a serious security flaw in the operating system. The updates for Mac OS follow the release of a security update for the iOS 7 mobile operating system used on the iPhone and iPad. Apple’s comments on the security flaws were limited, but cryptographer Matthew Green said before the updates that the flaw was “seriously exploitable,” meaning that it could allow hackers to gain access to user accounts. An Apple spokesman said of the latest patch: “Today’s update does address the same issue that was fixed in iOS 7.” The Apple support website said the update “improves the stability, compatibility, and security of your Mac.” The website said the update fixes a series of problems and also allows the computers to make and receive voice calls using Apple’s FaceTime program.

6)Vodafone ropes in NSN, Ericsson

British telecom giant Vodafone has inked five-year deals with equipment makers NSN and Ericsson as part of its ambitious ‘Project Spring’ to improve network quality in Europe and emerging markets like India.

7)Sarraf is new ONGC chief

The government on Wednesday appointed Dinesh K. Sarraf as the new head of Oil and Natural Gas Corporation.The Appointments Committee of the Cabinet (ACC) approved the appointment of Mr. Sarraf, who at present is the Managing Director of ONGC’s overseasarm, ONGC VideshLtd.

8)Idea Cellular ties up with Opera Software

Idea Cellular, India’s third largest mobile operator, has partnered online browser Opera Software to offer Internet access to its subscribers for as low as Rs.7 a day.Using ‘Idea Web Pass’, users can access mobile Internet services on the Opera Mini web browser.The packages, which can be bought from within the Opera Mini browser, will cost Rs.7 (weeklyFacebook pass), Rs.8 (daily Internet pass) and Rs.30 (weekly Internet pass).

9)RBI sets out rules to revitalise distressed assets

The Reserve Bank of India (RBI), on Wednesday, issued guidelines for revitalising distressed assets by forming Joint Lenders’ Forum (JLF) and adoption of Corrective Action Plan (CAP) for operationalising the framework.
“The general principle of restructuring should be that the shareholders bear the first loss rather than the debt holders,” the RBI said.
With this in view and also to ensure more ‘skin in the game’ of promoters, the RBI suggested JLF/CDR to consider several options, including the possibility of transferring equity of the company by the promoters to the lenders “to compensate for their sacrifices” when a loan is restructured.
The RBI suggested infusion of more equity into their companies by promoters and transfer of their holdings to a security trustee or an escrow arrangement till the turnaround of the company. “This will enable a change in management control, should lenders favour it,” it said.
In case a borrower had undertaken diversification or expansion of activities, resulting in the stress on the core-business of the group, a clause for sale of non-core assets or other assets could be stipulated as a condition for restructuring the account, it said.
Banks would be required to report credit information, including classification of an account to Central Repository of Information on Large Credits (CRILC), on all their borrowers having aggregate fund and non-fund based exposure of Rs.5 crore and above with them.
As soon as an account was reported by any of the lenders to CRILC, where principal or interest payment overdue between 61 days and 90 days, they should mandatorily form a committee to be called JLF if the aggregate exposure (AE) of lenders in that account was over Rs.100 crore, the RBI said.
Lenders also hade the option to form a JLF even when the AE in an account was less than Rs.100 crore, it noted. .
All the lenders should formulate and sign an agreement incorporating the broad rules for the functioning of the JLF.
The Indian Banks’ Association (IBA) would prepare a master JLF agreement and operational guidelines for JLF which could be adopted by all lenders. The RBI said that the JLF should invite representatives of the Central/State government/project authorities/local authorities if they had a role in the implementation of the project financed.
While JLF formation and subsequent corrective actions would be mandatory in accounts having AE of Rs.100 crore and above, in other cases also the lenders would have to monitor the asset quality closely and take corrective action for effective resolution as deemed appropriate.
For accounts with AE of less than Rs.500 crore, the restructuring package should be approved by the JLF and conveyed by the lenders to the borrower within the next 15 days for implementation.
The RBI further said that for accounts with AE of Rs.500 crore and above, the techno-economic viability study and restructuring package would have to be subjected to an evaluation by an independent evaluation committee (IEC) of experts. “The IEC will look into the viability aspects after ensuring that the terms of restructuring are fair to the lenders.”
The IEC would be required to give its recommendation in these cases to the JLF within 30 days.
Thereafter, considering the views of IEC, if the JLF decided to go ahead with the restructuring, the restructuring package, including all terms and conditions as mutually agreed upon between the lenders and the borrower, would have to be approved by all the lenders and communicated to the borrower within next 15 days for implementation.
Suggests forming of Joint Lenders’ Forum and adoption of Corrective Action Plan for operationalising the framework

10)No differences with Finance Ministry: RBI Governor

Under flak from various quarters for raising rates, RBI Governor Raghuram Rajan, on Wednesday, said the central bank was committed to the ‘strongest growth possible’, and stressed it was on the same page as the Finance Ministry on this front.“Note that the RBI is committed to getting the strongest growth possible; there is no difference between us and the North Block on this,” said Dr. Rajan, who has hiked rates thrice since taking over as Governor in September.He was speaking at a fixed income industry (Fimmda-PDAI) event here where the media was not allowed and only given a copy of the speech.The North Block, which houses the Ministry of Finance, has not been pleased with the Reserve Bank’s rate increases, given their impact on investor sentiment and growth in general.Dr. Rajan justified his actions, saying the best way to foster sustainable growth in the current circumstances was through monetary stability, which was bringing down inflation over a reasonable period.The Governor, who went against the majority view of an internal panel advising on the monetary policy and surprised all by hiking rates in January, also reiterated the central bank’s determination to get retail inflation down to 8 per cent by January, 2015, and 6 per cent by January, 2016.He explained that even though some people might believe that in the short-run, the RBI’s rate hikes might impact growth, the best way for a central bank to generate growth was to bring down inflation.“Sooner or later, the public always understands what the central bank is doing, whether for the good or for the bad,” he said.Stressing the importance of sentiment, Dr. Rajan said a central bank could cut rates ‘significantly’ if the public started expecting lower inflation.“To generate sustainable growth, we have to fight inflation first,” he said, adding that public faith in the central bank might also help reduce volatility in the rupee.On the three interest rate hikes under his leadership, Dr. Rajan said, “If we have to bring down inflation, we have to start today. We cannot wait till the public’s expectations of inflation get more entrenched and the inflationary spiral gains momentum.”However, on the business community’s demands for a rate cut, Dr. Rajan said the RBI did not believe it would lead to more investments.“First, we don’t believe the primary factor holding back investment today is high interest rates. Second, even if we cut rates, we don’t believe banks, which are paying higher deposit rates, will cut their lending rates,” he said.The governor said the current policy rate was not at a level where it could affect demand and it will gain potency only once inflation comes down because of the weak economy and strong food production. — PTI

11)Kohli, Rahane take India home easily

ASIA CUP / Mushfiqur’s century and Anamul’s innings go in vain for Bangladesh
CALLING THE SHOTS:Virat Kohli, leading the side, notched up a century to help India start its campaign with a win. —Photo: AFP
On Wednesday, though, the 25-year-old, like he has done so often lately, declared his penchant for a statesman-like role. The skipper’s 19th century, a scrumptiously hard-boiled response under stress, piloted India to a nerveless six-wicket victory with an over to spare, against Bangladesh in the Asia Cup.Earlier, Kohli’s counterpart, Mushfiqur Rahim, too, had manufactured a glitzy ton to power Bangladesh’s score to 279 for seven after being asked to bat. But success as a team would escape him.
Bangladesh’s innings was never the sputtering car despite taking its time to start. Once the engine was cranked up, the purring was symphonic. Its skipper Mushfiqur Rahim was the driving force, storming his way to a second hundred and, in the process, lifting Bangladesh’s total to 279 for seven in 50 overs against India at the Khan Shaheb Osman Ali Stadium here on Wednesday.
Before being at the receiving end of some mauling, India evicted Shamsur Rahman in the sixth over when Mohammed Shami’s snarling short-ball was met with a twirled bat and a top-edge ensued. What should have been a regulation finish nearly turned out to be tragicomic. Both Shami and Ambati Rayudu failed to call for the catch and bumped into each other, but the former clung on to the ball.
Thereafter, the Haque duo — Anamul and Mominul — displayed a flattering collection of drives. The left-handed Mominul cracked two sleek ones through cover off Varun Aaron’s first two deliveries. He established a pattern of punishment that would continue to haunt Aaron throughout the innings. Anamul was more the gun-slinger, dashing out of the crease, either for a hoick over mid-on or a slice over point.
Bhuvneshwar Kumar, trading mostly in length deliveries, sent down a sharp bumper to Anamul. While an impulsive pull found the fine-leg fence on the first occasion, a follow-up bouncer soared precariously in the air. But Shami, at fine leg, failed to arrive in time; Anamul was only on 12 then.
Mominul, though, wasn’t as lucky; he charged down to R. Ashwin, but the ball trickled off his pads to the ‘keeper K. Dinesh Karthik, who completed the stumping. That resulted in Mushfiqur’s arrival.
Anamul and Mushfiqur, like enthusiastic gold-diggers, went about plundering runs. Their 133-run partnership saw Mushfiqur indulge in staccato cuts and scything slogs over the cow-corner even as Anamul continued to rage down the wicket.
One thing that caught the eye was Ashwin’s bowling action that looked like a Sunil Narine impression. Although he never looked very threatening, along with Ravindra Jadeja, he offered some control in the middle stages. But, Virat Kohli’s tactics — of not attacking with Bhuvneshwar and persisting with Aaron, and even Ambati Rayudu — in the middle stages of the Bangladesh innings were questionable.
Despite Anamul playing on in the second over of the batting PowerPlay, Mushfiqur continued to hurtle away, merrily making use of any extra pace. At one point, he walloped Aaron for two fours and a six in the same over. But there was a minor scare in the over when the bowler’s searing beamer struck Mushfiqur on the chest. Instantly, he went down writhing in pain.
The crowd rallied around him with chants of ‘Mushfiqur...Mushfiqur’, and the 25-year-old responded.

26th Feb : Today's Poster !!!!!!

26th Feb : Today's Important NEWS !!!!!!!!!!!

1)Chiranjeevi front runner for CM

Union Minister of State for Tourism K. Chiranjeevi called on AICC general secretary Digvijaya Singh on Tuesday in the backdrop of his name figuring prominently as a contender for Chief Minister.The meeting assumes significance as the Congress leadership has begun exploring the scope for installing a new government in Andhra Pradesh following the resignation of N. Kiran Kumar Reddy.State Congress leaders have appealed to the high command not to impose President’s Rule and go instead for a popular government till the elections are over.Sources said Mr. Chiranjeevi told Mr. Digvijaya Singh that he was ready to take up any responsibility to revive the party in Seemandhra, where it was facing a tough time after the bifurcation of the State.

2)800 turtles dead in Nellore

Dead turtles seen in Errana Dibba in Nellore.

More than 800 Olive Ridley turtles, which came to lay eggs on the beaches of Nellore in Andhra Pradesh, have died, it was reported on Tuesday.

N.V. Sivarama Prasad, District Forest Officer, Nellore, said such large-scale deaths of Olive Ridley turtles have not been reported from the Andhra Pradesh coast in the recent past.

The deaths were caused mainly by the use of trawl nets by fishermen. Since local fishermen used only gill nets, which did not pose a threat to the turtles.

The area from where the deaths were reported is rich in biodiversity, which attracts large number of Olive Ridley turtles to lay eggs, he said. The forest department had created awareness among fishermen through the State Institute of Fisheries, Kakinada.

Fishermen had been advised to use the turtle-excluding device to reduce the death of Olive Ridleys.

Supraja Dharini of TREE Foundation, a Chennai-based voluntary organisation involved in sea turtle conservation, said their volunteers in Andhra Pradesh on Saturday last saw the mass death of Olive Ridley in Errana Dibba, Indukurpeta Mandalam, south of Penna river estuary and Vidavaluru Mandalam in the north of the estuary. She also charged that the deaths were caused by the use of a trawl net by fishermen from Tamil Nadu.

Mr. Prasad said an earthmover was pressed into service which dug more than five foot deep pits to bury the carcasses.

3)Samsung takes the wraps off S5 in low-key affair

Korean electronics giant Samsung, in a marked difference to its previous flagship launches, took the wraps of its new Galaxy S5 smartphone on Monday with no over-the-top flourishes that observers and analysts have come to expect.The company also unveiled two new smartwatches and a wristband, which abandon Google’s Android software for an open-source software called Tizen, demonstrating how the next battleground is indeed the wrist.The change in the positioning of the Galaxy S5, which comes with a slightly bigger 5.1 inch screen and a fingerprint scanner, comes as low-cost Chinese and Indian rivals such as Gionee and Micromax have stepped up on the glitzy marketing and over-the-top features.“Our consumers don’t want eye-popping technology or the most complex technology. With the Galaxy S5, Samsung is going back to the basics,” said J. K. Shin, President of Samsung’s mobile business, while addressing reporters at the Mobile World Congress trade fair here. “Customers instead want beautiful design, a better camera, and faster connectivity,” he added.Samsung is instead focusing on more subtle improvements in place of ‘shock-and awe’ features in the device, through accessories such as a heart rate monitor, and is avoiding a glitzy marketing approach, a la the Galaxy S4. The S5 also comes with water and dust protection, and will ship on April 11 globally, though the pricing details are yet to be disclosed.The company, which unveiled the Galaxy Gear 2 smartwatch and a stripped-down sibling called the Gear 2 Neo, also rolled out the Gear Fit, which focuses on the health sector.Market analysts, however, believe that the whole ‘back to basics’ approach may not appeal to the public, and could be viewed as a U-turn.

4)‘We need more low-cost devices’

Senior executives of Bharti Airtel and Reliance Jio Infocomm took to the stage at the GTI (Global TD-LTE) summit here on Tuesday to give a glimpse to the world of India’s potential and India’s problems concerning the evolving 4G market.Gopal Vittal, Joint Managing Director and CEO, India, Bharti Airtel, pointed out that more low-cost devices and spectrum were needed to overcome the infrastructure challenges related with LTE (the faster version of the mobile Internet).“The biggest infrastructure challenges right now are that we need more low-cost mobile devices. Then there’s the spectrum that is supplied. What is supplied to us is only 40 per cent of the global average,” Mr. Vittal said.“Also, only half of India’s base stations are on fibre... This needs to change,” he added.Reliance Jio’s Mathew Oommen, who is the President of Strategy, Network and Products, on the other hand, painted a more optimistic and upbeat image with the showcasing of a LTD-TTD inter-operability use-case with Chinese giant China Mobile.“This took us just one afternoon to work out with China Mobile's engineers. The collaboration with China Mobile was great,” Mr. Oommen said, after calling an executive at the China Mobile stand at the trade fair here.Reliance Jio, according to Mr. Oommen, also wants to make a larger global impact and help contribute to fields like public transport and the smart grid.“There’s huge potential. This is why we need the help of partners and organisations such as the GSMA (GSM Association) and GTI... to help unleash Jio,” he said.China Mobile too took to the stage, in support of Reliance Jio, with an active dynamic presentation of VoLTE (voice over LTE) in collaboration with Reliance Jio Infocomm.

5)BlackBerry hits back with sub-$200 Z3

Battered smartphone-maker BlackBerry is planning to release a sub-$200 phone, which is a crucial price category in emerging markets, in a bid to overcome falling sales, decreasing popularity and flagging profitability.The move to release the Z3, which will first hit Indonesia and then other emerging markets such as India, comes on the same day that the Canadian mobile market decided to cut the price of its Z10 smartphone in the Indian market.The Z10, which was first launched at Rs.43,490 and then was later cut down to Rs.29,990, is now available for Rs.17,990 for a limited period offer.Both these moves are being seen by analysts as last-ditch efforts to make a dent in the smartphone race.“The Z3, with all its features, is competitive for emerging markets like India at its price of $200,” said John Chen, Executive Chairman and CEO, BlackBerry, in response to a question from reporters at the Mobile World Congress trade fair here on Tuesday.The Z3 smartphone comes with a 5 inch display, a full touch display, and will run the latest version of the BlackBerry operating system - version 10.2.1. It is also the first phone made under a new five-year partnership the company has with Foxconn.“The Z3 embodies all that BlackBerry 10 offers, with its exceptional productivity features and reliable communications,” Mr. Chen said.The phone will be first launched in Indonesia, where the company still enjoys great popularity, in April. No pricing details were announced.Decides to cut the price of its Z10 smartphone in the Indian market

6)‘Cyber thieves blamed for Bitcoin heist’

A gang of cyber criminals, using an army of infected computers, made off with at least $220,000 worth of Bitcoins and other virtual currencies, security researchers have said.The researchers from the security firm Trustwave, on Monday, said the heist was accomplished by a botnet of computers using malware that has been dubbed ‘Pony’. The Pony botnet has infected an estimated 700,000 people or computers, allowing the criminals to control those accounts.The scheme “collected approximately $220,000 worth, at the time of writing, of virtual currencies such as Bitcoin, LiteCoin, FeatherCoin and 27 others,” said a blog post from researchers Daniel Chechik and Anat Davidi.“According to our data, the cyber gang that was operating this Pony botnet was active between September, 2013, and mid-January, 2014.”The botnet stole 600,000 website login credentials, 100,000 email account credentials and other secure account information.The news comes amid growing use of virtual currencies such as Bitcoins, which have been developed by cryptographic experts as a way to move money at lower costs than traditional finance systems. While many uses of Bitcoins are legitimate, the virtual currencies have also been tied to money laundering and drug trafficking as well as underground websites such as Silk Road, the target of a U.S. raid.Earlier this month, the operators of what was purported to be a revived Silk Road website claimed the site was the victim of an attack which wiped out $2.70 million stored by the bazaar.

7)Jalan committee submits report to Reserve Bank

The four-member committee, headed by former RBI Governor Bimal Jalan, on new bank licences submitted its recommendations to the Reserve Bank of India (RBI) on Tuesday after scrutinising the applications.There are 25 applicants.

25th Feb : Today's Poster !!!!!!!!!!!!!!

25th Feb : Today's Important NEWS !!!!!!!!!!

1)Hyderabadi flavour at Sochi

The Indian contingent’s walk at the Winter Olympics 2014 without carrying the tricolour might have been demoralising, but a Hyderabadi and his ‘Ameerpet’ flag more than made up for it.Owing to a ban by International Olympic Committee (IOC), the three-member Indian contingent had to participate in the opening ceremony held on February 7 at Sochi (Russia) without identifying themselves with the tricolour. However, it was 51-year-old Indranil Chowduri from the city who stole the show that day. “I knew there was a ban, but still I wanted to take the flag inside the stadium and wave it. Before leaving for the event I had bought an Indian flag from a khadi shop in Ameerpet. When entering the stadium in Sochi, I was stopped by the security personnel, but after much persuasion I managed to get in with the flag.”

2)Bharti in the eye of the storm again

Controversial former Delhi Minister Somnath Bharti once again found himself in the eye of the storm on Monday when an executive engineer of South Delhi Municipal Corporation was allegedly beaten up by people wearing Aam Aadmi Party caps. The incident occurred at the venue of a protest called by the Minister.The AAP leader and his supporters were protesting outside the Corporation’s office in Green Park against alleged irregularities in the recent demolition drive in the area.However, Mr. Bharti said that no AAP worker was responsible for the attack. “It was a villager whose property had been demolished. The protest was about corruption in the Corporation’s Building Department,” he added.“We have asked the Corporation for the CCTV recording to find out who the person was,” he said, adding that “no sort of violence is acceptable in AAP”.The police said an FIR has been registered against unidentified persons for the attack on Mr Kumar under Section 353 (assault or use of criminal force to deter a public servant from discharge of duty) and 186 (obstructing a public servant in discharge of public functions).The AAP workers alleged that the civic body was targeting people who had supported the party. Mr. Bharti was seen shouting at the security personnel outside the SDMC office, though the police said he was not there when the executive engineer was attacked.The Congress and the BJP too criticised the attack. “He [executive engineer] was going to the office to record his attendance, when he was pulled out and attacked,” said SDMC Leader of the House Subhash Arya.On being informed of the incident at a House meeting on Monday, Councillors condemned the incident. “Everyone has a right to raise issues in a peaceful way in a democracy. There can be no manhandling, otherwise how will the system work,” said Congress Councillor Virender Kasana.Mr. Bharti, the Law Minister in the Arvind Kejriwal Government, had led a ‘midnight raid’ against, what he called, a prostitution and drugs racket in Khirki Extension last month.

3)Gas deal with RIL can’t be scrapped now, says Veerappa Moily

As the country prepares for a major hike in gas prices from April, Petroleum and Natural Gas Minister M. Veerappa Moily wrote to Prime Minister Manmohan Singh saying that the contract for KG-D6 gas fields with Reliance Industries Ltd (RIL) could not be terminated pending arbitration of the issue of output lagging targets.The letter comes in the backdrop of Aam Admi Party leader Arvind Kejriwal’s allegation that the Congress-led UPA’s fuel pricing policy benefitted Mukesh Ambani’s firm.Mr. Moily defended the increase in gas prices on the ground that the project would become commercially unviable for companies.This in turn would lead to an increase in subsidy bills as gas would have to be imported.He said several gas fields of RIL and ONGC were economically unviable at the current rate of $4.2 per million British thermal unit or mmBtu.

4)A house for Mr. Singh, in the heart of Lutyens’ Delhi

3 Motilal Nehru Place, the bungalow where Sheila Dikshit lived when she was Delhi Chief Minister, is likely to be Prime Minister Manmohan Singh’s post-retirement home.Dr. Singh and his wife, Gursharan Kaur, took a detailed tour of the bungalow, located in the central part of Lutyens’ Delhi, and the nearby 5 Janpath on Sunday.While they spent more than an hour inside the bungalow, they paid a quick visit to the other, indicating the choice, said an official present.A final decision will be taken soon, said an official in the Prime Minister’s Office.Officials of the Delhi Police, Central Public Works Department, Urban Development Ministry and Special Protection Group accompanied the Prime Minister. Former Prime Ministers and their families are entitled to government accommodation and SPG protection.As Ms. Dikshit had been living in it till recently, the bungalow has been well maintained and meets the requirements for a former Prime Minister’s residence such as space for office, visitors and security.The house, on a 3.5-acre plot, has four bedrooms, and 10 Janpath, house of Congress president Sonia Gandhi, is nearby.In 2004, after taking charge as Prime Minister, Dr. Singh waited more than a month before he moved into 7 Race Course Road, his official residence now, as a new house was being readied for the previous incumbent, Atal Bihari Vajpayee. If Mr. Singh finalises 3 Motilal Nehru Place soon, the new Prime Minister will not have to wait that long.

5)Centre against release of all 7 Rajiv case convicts

Tamil Nadu can’t consider remission under Section 435 of Cr.PC.

The Supreme Court will hear on February 27 a fresh writ petition which the Centre filed on Monday, challenging the Tamil Nadu government’s decision to release the seven convicts in the Rajiv Gandhi assassination case on remission.On an application from the Centre, the Supreme Court had already stayed the release of Murugan, Santhan and Perarivalan, whose death sentence was commuted to life term on February 18. As the application did not seek a stay on the release of Nalini, Robert Pious, Jayakumar and Ravichandran, the court did not pass any order against them.In Monday’s petition, the Centre covered all the seven convicts, challenging the State’s decision to release them and raised substantial questions of law, such as whether the State or the Union was the appropriate government to grant remission. The case has been posted for hearing to February 27.

6)LPG dealers call off strike

Cooking gas (LPG) dealers have called off their indefinite strike planned from Tuesday after oil companies set up a panel to look into their grievances.

7)Arrest warrant for Yanukovych

Ukraine’s new authorities issued an arrest warrant for ousted President Victor Yanukovych over “mass murder,” and flagged off a presidential election campaign amid a widening rift between Russia and the West over the regime change in the former Soviet state.Acting Interior Minister Arsen Avakov said a criminal case had been opened against Mr. Yanukovych and other officials accused of “mass murder of peaceful civilians.”Mr. Yanukovych, displaced by a decision of Parliament, fled Kiev after signing a Europe-brokered accord with the opposition to end the three-month crisis that claimed more than 80 lives.Mr. Avakov said Mr. Yanokovych had been last spotted in the pro-Russian Crimea Peninsula, which houses Russia’s major naval base in Sevastopol. Ukraine’s Parliament on Monday declared the start of a presidential election campaign on February 25, with the voting set for May 25. Russia and the West have sharply disagreed over the events in Ukraine. While Western countries have supported Ukraine’s new authorities and promised financial aid, Russia questioned their legitimacy and accused them of using “dictatorial” and “terrorist” methods to suppress dissent and infringe on the rights of ethnic Russians.In a statement issued on Monday the Russian Foreign Ministry lashed out at the West for pursuing “geopolitical self-interest” in Ukraine and advancing a “forceful regime change.”Russia warned Ukraine’s new leaders to heed the “concerns” of the Russian-speaking eastern and southern regions of Ukraine, as well as the Crimea and Sevastopol.An assembly of Ukraine’s eastern provinces on Saturday refused to recognise the legitimacy of the new authorities in Kiev. A 20,000-strong rally in Sevastopol on Sunday voted to replace a Kiev-appointed Mayor with Russian businessman Alexei Chaly and to stop sending their taxes to Kiev.In another Crimean city, Kerch, protesters tore down the Ukrainian flag from the City Hall and replaced it with the Russian flag.Protesters in both Crimean cities have set up self-defence forces to guard against possible moves by Kiev to crush their resistance. With Russia now likely to put on hold the disbursement of the remaining $12 billion out of its $15-billion bailout for Ukraine, the new leaders in Kiev have appealed to the West to drum up a huge rescue package.Ukraine’s Acting Finance Minister Yuriy Kolobov said the country needed $35 billion by the end of next year to avoid default. He called for an international donors’ conference involving representatives of the EU, the U.S. and the International Monetary Fund to come up with an emergency aid package.

8)Sushil Koirala Cabinet likely to be expanded today

A day after agreeing to expand the two-member Cabinet, the Nepali Congress and the CPN-UML on Monday failed to finalise the names of ministers from their respective parties due to intra-party differences.Both the parties held meetings throughout the day to settles on names but there were many claimants for each of the 10 portfolios that the first and second largest parties have decided to have for themselves.This meant delay of the Cabinet expansion by yet another day.The CPN-UML was in favour of having its vice-chairman Bam Dev Gautam take oath as Deputy Prime Minister and Home Minister on Monday itself after the party’s Standing Committee – its highest decision-making body – decided to send him as their leader in the coalition government.“Comrade Bam Dev would take oath today [on Monday] if that is arranged,” said UML Chairman Jhala Nath Khanal told mediapersons after the party’s meeting.However, Prime Minister Sushil Koirala was not keen on inducting just one minister although he has been under pressure to give full shape to his Cabinet.He told the UML leaders that he was in favour of all the ministers from the two parties taking oath of office together on Tuesday.While Mr. Koirala was able to placate Sher Bahadur Deuba by offering his camp four of the 10 NC ministers, he is yet to finalise the names of the six Ministers. The Prime Minister, likely to keep Defence for himself, is struggling to ensure representation from various regions, groups and communities.The CPN-UML which has set criteria for ministers’ selection – two-time parliamentary election winners but who never got a chance to be ministers and newer faces – also could not agree on the names with the party’s senior leader and former Prime Minister Madhav Kumar Nepal expressing his dissatisfaction by not attending the party’s Standing Committee meeting.The Standing Committee has entrusted Mr. Gautam with finalising the names of the UML Ministers. The names have to be approved by Chairman Khanal and Parliamentary Party leader K.P. Oli.On Sunday, the two parties settled their simmering row over the Ministry of Home Affairs. Prime Minister Koirala agreed to give the powerful portfolio – which controls all the non-military security and civil administration apparatus in the country – to the UML which had refused to join the Koirala Cabinet without the Home portfolio. As a result, Mr. Koirala could not expand his Cabinet.The NC and the UML have also identified their respective ministries. The NC is going to have Defence, Finance, and Information and Communication – seen as important ministries – while the UML has got Foreign Affairs besides Home.The two coalition partners have decided to offer the remaining six ministries to smaller parties which might join the government.

9)Battered Nokia turns to Android

Three years after announcing that Nokia would jump ship to Microsoft’s Windows Phone software instead of Google’s Android software, Executive Vice-President Stephen Elop got on stage at the Mobile World Congress trade fair on Monday to announce a new line of mobile phones that run a modified version of Android.The decision to come out with a new line of phones — the Nokia X, X+ and XL-based on Android comes days ahead of Microsoft’s acquisition of Nokia.According to Mr. Elop, the market has ‘shifted dramatically’, and the company needs to quickly address the sub-$100 category of mobile phones in ‘growth markets’.According to analysts, this is Nokia’s submission of the fact that buyers of low-end mobile phones in countries like India prefer an Android-based operating system over anything else.“The X family serves a specific purpose — it is a feeder system into our Lumia line of smartphones. It also addresses the gap between Asha and Lumia,” Mr. Elop said, while addressing reporters here on Monday.The three new models rely on an open version of the Android operating system, and come bundled with Nokia and Microsoft’s services — avoiding dependence on Google’s services.For instance, by using an open version of Android, Nokia doesn’t depend on the Google Play app store — it uses its own app store along with a host of other app stores. It will also bundle the X range with its own music and map offerings along with Microsoft's e-mail, cloud, messaging and search services.The Nokia X and X+, which will be released soon in Eastern Asia and Southeast Asia, are priced at 89 and 99 euro, respectively. The Nokia XL, which has a bigger five-inch screen, is priced at 109 euro. The specific launch dates were not disclosed.When asked if he had ‘jumped ship’ the wrong way with Windows Phone software three years ago, Mr. Elop replied in the negative.“There were quite a lot of vendors... who went with Android but couldn’t differentiate. What we are doing here is simple... we’re building a third ecosystem along with Microsoft. We don’t mind if there's overlap with our other devices,” Mr. Elop said.

10)Xolo, Karbonn in Windows fold

Microsoft has started its biggest push yet to make its Windows Phone software more popular in India with the induction of domestic mobile phone players Xolo and Karbonn as partners, who will make smartphones that use the company’s trademark mobile software.This push, which is one of the first moves by the company after newly-appointed CEO Satya Nadella took over, is also accompanied by several changes in the company’s policy regarding its Windows Phone partners. For instance, Microsoft is easing several restrictions on how phone makers use its software, in a bid to encourage them to drive down costs. “We’re open for business on Windows Phone to anyone who wants to build a Windows phone,” said Nick Parker, Senior Vice-President for mobile makers, while addressing reporters at the Mobile World Congress trade fair here.The other new partners include South Korea’s LG Electronics and China’s ZTE, Lenovo and Gionee.These sweeping changes also come on a day when Nokia, which Microsoft will finish acquiring later this quarter, decided to bring out an Android-based line of smartphones.One of the major restrictions that Microsoft had earlier imposed, which hampered domestic players like Karbonn, was on how the hardware layout of the phone should be manufactured.With this restriction now gone, Karbonn and Lava can now use cheaper, soft keys to make Windows Phone-based mobiles and also adapt designs from their Android phone equivalents.Another key change was the announcement of support for dual SIM cards, clearly aimed at the domestic immigrant working population, which often switch phone tariffs to make cheaper local calls.

11)Jolla looks at September launch

Jolla, the Finnish mobile phone start-up that is made up of former Nokia engineers, is looking at rolling out its trademark Jolla mobile phones in India by September, according to Chairman Antti Saarnio.The company made waves a little over two years ago when a group of engineers, who were let go by Nokia, decided to use Nokia’s discarded MeeGo software to create a new mobile operating system that would challenge the likes of Apple and Samsung.The company’s Sailfish operating system is based on MeeGo technology, which was discarded when former Nokia CEO Stephen Elop decided to jump ship to Microsoft’s Windows Mobile software. “We’re in talks with a few Indian e-commerce companies and are possibly looking at a September launch. India is a market with great potential, even more than China... because of the language and easier customisation options,” Mr. Saarnio said, in an interview with this correspondent on the sidelines of the Mobile World Congress trade fair here. Mr. Saarnio and his team will make a trip to India this spring to talk with domestic partners, as he looks to also licence the company's operating system to local players.“There are many companies that could use the Sailfish OS as an alternative to Android or Windows Phone software... we’re looking to tap into that as well,” he said.According to Mr. Saarnio, Jolla will look at the mid-sized segment only and not look to compete in the luxury-end or the low-cost, low-end segments.

12)No talks on UBI merger: Union Bank

Union Bank of India has said that no negotiations are in place for a possible merger of the bank with the loss-ridden United Bank of India (UBI).The denial comes in the wake of reports of a merger which was refuted through individual filings by either bank on the stock exchanges. United Bank denied any merger talks whatsoever saying “There is no information with us of the bank getting merged with any other PSU/private bank, including Union Bank of India”.On the stock markets UBI stock, which was losing in the past one week, saw a 6 per cent jump in its prices which touched Rs.25.85. Union Bank closed the day with a marginal gain at Rs.103.3. Union Bank reported a net profit of Rs.651.2 crore during the third quarter.UBI also said that its board had okayed a proposal to issue perpetual non-cumulative preference shares which would shore up the bank’s capital base.The bank also issued a press release refuting reports on fresh trouble being kicked up by a Rs.800-crore credit line. The bank clarified that bill discounting against letter of credit issued by reputed banks was an accepted practice in banking industry. The release said that the present outstanding in this particular instance had dropped to Rs.163 crore after receiving payments from LC-issuing banks.

13)Sony Corp unveils tablet, two phones

Sony Corp. took its time in the limelight at the Mobile World Congress trade fair here on Monday to prove to investors that its ‘One Sony’ strategy, a gameplan that involves all divisions of the working together, is showing signs of initial success.The company, on Monday, took the wraps off a new Xperia Z2 smartphone with noise-cancelling technology and ultra-high-definition video recording — which no doubt comes from innovations borne out of its audio and camcorder business. It is also water-proof and comes with a 5.2 inch screen.“With the Xperia Z2, we have taken our premium Z series to the next level, in a way that only Sony can deliver,” said Kunimasa Suzuki, President and CEO, Sony Mobile.The company also announced the Xperia Z2 tablet, which features a 10.1 inch screen, and the Xperia M2 phone, which is being positioned as a cheaper alternative to the Xperia Z2. The M2 is only 4.8 inches and comes with a less powerful camera.Sony did not announce pricing or a solid launch date. — Anuj Srivas

14)Mozilla plans Rs.1,500 smartphone for emerging markets

Technology firm Mozilla has showcased a smartphone prototype for developing countries, which could cost as less as $25 (about Rs.1,500).The company, which runs the Firefox browser, has partnered with Chinese low-cost chip maker Spreadtrum. In 2014, we are differentiating our user experience and our partners are growing the portfolio of devices. We are also enabling a whole new category of smartphone, priced around $25, that will bring even more people around the world online,” Mozilla Chief Operating Officer Jay Sullivan said. — PTI

15)WhatsApp to add voice calls to its product

The world’s biggest messaging service, WhatsApp, will add voice calls to its product in the second quarter of this year, its CEO Jan Koum said, days after its blockbuster $19 billion acquisition by Facebook.“We are driven by the mission that people should be able to stay in touch anywhere and affordably. Our goal is to be on every mobile phone in the world,” Mr. Koum said on Monday, speaking at the Mobile World Congress here. Mr. Koum also announced a partnership with KPN’s E-Plus, under which it will launch a WhatsApp-branded mobile service in Germany. “We are working with carriers in established markets to bring value to end users,” he said. — Reuters

16)Toshiba wins $180 m order from NTPC

Toshiba Corporation, on Monday, said it had won a $180 million (about Rs.1,080 crore) order from NTPC for supply of super-critical steam turbine and generators for its power station in Odisha. Toshiba JSW Power Systems Pvt. Ltd., a Toshiba Group company based in India, has been awarded a contract by NTPC “for the supply of two 800 MW super-critical steam turbine and generator island packages for the Darlipali super thermal power station,” the company said in a statement.

17)Dell ramps up Flipkart’s back-end

Flipkart announced on Monday that Dell was ramping up its back-end data centre as it readied to expand services and offer additional product categories on the shopping site. A release from Flipkart stated that the partnership also includes Dell setting up a disaster recovery mechanism to “prevent data loss and ensure business continuity”. This enables the e-commerce major to focus on its core business and not worry about disruptions, Flipkart said in the release.