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Daily G.K. - Top Stories

01 May 2016

INTERNATIONAL AFFAIRS

Reformists Win Iran Polls

  • Reformist and moderate Iranian politicians allied with President Hassan Rouhani won the second round parliamentary elections, making a remarkable comeback after years of isolation.
  • Of the 68 seats being contested, 36 went to the pro-Rouhani List of Hope coalition and 17 to conservatives.
  • This would give reformists at least 131 seats in the new 290-member Parliament, 15 short of a majority but more than their rivals’ 124 MPs.
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BUSINESS AND ECONOMY

Auction of all Spectrum at TRAI Prices

  • The Telecom Commission has favoured auctioning all available spectrums at the reserve price suggested by the Telecom Regulatory Authority of India (TRAI). A sale at such price could fetch the government about Rs. 5.36 lakh crore.
  • As per the Telecom Commission, companies winning spectrum in higher frequency bands, above 1GHz (1800 MHz, 2100 MHz, 2300 MHz and 2500 MHz), should make 50 per cent upfront payment instead of 33 per cent under the current rules.
  • For spectrum purchased in the below 1GHz band (700 MHz, 800 MHz and 900 MHz), companies would require to pay 25 per cent as upfront payment and the rest over 10 years after two years of moratorium.

RBI Allows up to 60% Foreign Holding in YES Bank

  • Reserve Bank allowed foreign investors to buy up to 60 per cent in private sector lender YES Bank.
  • As per RBI, the private lender has passed a special resolution agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by FIIs/RFPIs.
  • Therefore, further purchases of equity shares of this company would be allowed only after obtaining prior approval of RBI.
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SPORTS

BCCI Resumes Ties with WICB

  • The Board of Control for Cricket in India announced the resumption of bilateral cricket ties with the West Indies starting with a four-Test series in July-August. The Board of Control for Cricket in India and the West Indies Cricket Board have resolved all outstanding issues arising out of the abandonment of the tour of the West Indies team to India in 2014.
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