- President Pranab Mukherjee, currently on his four-day official visit to Russia, has inaugurated a festival of Indian Culture 'Namaste Russia' in Moscow.
- Today (11th May) is National Technology Day.
- We observe this day to celebrate India’s achievements in science and technology and to commemorate the anniversary of Shakti, the Pokhran nuclear test, held on May 11, 1998.
- The government today introduced the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement (Second Amendment) Bill, 2015 in Lok Sabha, amid a huge uproar by the opposition.
- The Whistle Blowers Protection (Amendment) Bill, 2015 was also introduced in the Lok Sabha.
- The Undisclosed Foreign Income and Assets bill, which provides for heavy penalties for those stashing away black money in foreign accounts, was passed in the Lok Sabha today.
- This bill provides a window to those with funds abroad to come clean by paying tax, interest and penalty.
- For those who refuse to do so, the bill has provisions for rigourous punishment, including a jail term of 3-10 years.
- Eminent banker K V Kamath was today appointed as head of the USD 100 billion New Development Bank, which is being set up by the five emerging economies of BRICS grouping.
- Important Points to Note :
- The BRICS - Brazil, Russia, India, China and South Africa - agreed to set up the $100 billion development bank last July to be based in Shanghai.
- As per the agreement, India got the right to nominate the first president.
- It would be headed by an Indian for a first five-year term, followed by a Brazilian and then a Russian.
- Outgoing chairman of Parliament's Public Accounts Committee (PAC), senior Congress leader K V Thomas, has been renominated to the post for a second term.
- Note : The PAC examines CAG reports after they are tabled in Parliament.
People in News
- In a major victory for AIADMK, a special Bench of the Karnataka High Court set aside the trial court order convicting former Tamil Nadu Chief Minister Jayalalithaa in the disproportionate assets case.
- In September 2014, she was sentenced to four years in prison and a Rs.100-crore fine was imposed.
- She is expected to be sworn in as chief minister on 17 May.
- A Hyderabad court today granted bail to Satyam Computers founder B Ramalinga Raju and 9 others in the multi-crore rupee accounting fraud.
- The court has suspended their sentence.
Science & Technology
- Minister of Communication and IT Ravi Shankar Prasad launched "PostInfo" IndiaPost's Mobile App in New Delhi today.
- Andy Murray wins Madrid Masters Men's Singles Title defeating Rafael Nadal.
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