Current Affairs 7th March 2014 | Shinzo Abe Prime Minister of Japan declared Bitcoin is not a currency

Bitcoin

Current Affairs 7th March 2014 | Shinzo Abe Prime Minister of Japan declared Bitcoin is not a currency

New Chairman of CII AP is Suresh Rayudu Chitturi

07.03.2014: New Chairman of CII (Confederation of Indian Industry) AP is Suresh Rayudu Chitturi. Currently he is acting as CEO of Srinivasa Hatcheries Group.

New CEO & MD of Lakshmi Vilas Bank is Rakesh Sharma

07.03.2014: New CEO & MD of Lakshmi Vilas Bank is Rakesh Sharma. Currently, KSR Anjaneyulu is acting as CEO & MD of the bank.

Google has committed $ 1 million to 40 start-up focused organisations

07.03.2014: Google has committed $ 1 million to 40 start-up focused organisations. These organisations include Nasscom 10,000 start-ups as well as Jagriti Yatra from India. Aim is promote participation of women in the technology space.

Diagnostic kit was developed for the detection of White spot Virus in shrimps

07.03.2014: Diagnostic kit was developed for the detection of White spot Virus in shrimps. This kit was developed by Mangalore based college of Fisheries. This virus spread all over the world. Due to this virus, shrimps industry is facing Rs.500 crores loss annually.

Rolls Royce, British aircraft engine maker, facing corruption probe in Britain and in United States

07.03.2014: Rolls Royce, British aircraft engine maker, facing corruption probe in Britain and in United States. Law enforcement agencies are current conducting investigating this group. Breaches of law will lead to criminal prosecution, penalties, fines, restrictions on future business and commercial litigation.

Shinzo Abe Prime Minister of Japan declared Bitcoin is not a currency

07.03.2014: Shinzo Abe Prime Minister of Japan declared Bitcoin is not a currency. He also stated that though it is not a currency it would be taxable. This decision was taken after the one week of the collapse of Mt.Gox. It is one of the largest exchanges of the currency which is Tokyo based. Tokyo stated that tax will be levied on purchase of the currency and tax will also be levied on profits of the sale of currency.

A committee was set up by RBI under FSDC

07.03.2014: A committee was set up by RBI under FSDC (Financial Stability and Development Council). To comply with Base I to III Capital norms, this committee will set up guidelines for the banking sector. Under the Chairman Ship of the Governor Raghuram Rajan this decision was taken at subcommittee meeting of FSDC.

Abraham Pannikottu to develop Zero Pressure tyres for the US military

07.03.2014: Abraham Pannikottu to develop Zero Pressure tyres for the US military. He is Indian American Engineer. Even after being shredded by the roadside bombs or gunfire, zero pressure tyres will continue to run. Minimum speed of these tyres is 50mph for 300 miles it can withstand if it punched.