24th December Current Affairs

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Omar Abdullah resigns As Chief Minister Of Jammu & Kashmir

Omar Abdullah

                                            
1) Omar Abdullah resignd as Chief Minister indicated that his National Confrence could play a part in government formation in J&K after the  election threw up a hung assembly.

2) In 2014, J&K election, Omar Abdullah lost in sonawar assembly constituency in Srinagar by 14,277 votes. However he won the Beerwah seat in Kashmir.









Atal Bihari Vajapayee & Madan Mohan Malaviya to be awarded with Bharat Ratna


1) The Presidents's office announced the Bharat Ratna Award to former Prime minister and Pandit Madan mohan malaviya (posthumously).
2) The announcement was made on the eve of the Mr. Atal Bihari Vajapayee's 90th Birthday & the 153rd Birthday anniversary of Pandit Madan mohan malaviya.
3) In 2013, Bharat Ratna was conferred to cricketer Sachin Tendulkar and Scientist C.N.R Rao.
4) Mr. Atal bihari Vajapayee will be the 7th Prime Minister to receive the award, while Pandit Madan mohan malaviya will be the 12th person to be honoured posthumously.

Atal Bihari Vajapayee
Pandit Madan mohan malaviya.














Kailasam Balachander

South Indian Filmmaker Kailasam Balachander passed away


1) South Indian filmmaker Kailasam Balachander died on 23 December 2014 following a heart attack. He was 84. His films like Bama Vijayam, Sindhubhairavi, Varumayin Niram Sivappu and Thanneer Thanneer are some of notable films in the history of Tamil cinema.
2) He was honoured with the Padma Shri in 1987 and is a recipient of the ANR National Award and Dadasaheb Phalke Award, India's highest award in cinema in 2010.

Govt approves Ordinance to hike FDI in insurance to 49%.


1) Government on 24th December approved promulgation of an Ordinance to hike Foreign Direct Investment (FDI) cap in the insurance sector to 49% from 26%
2) The Insurance Bill, which has been pending since 2008 in the Rajya Sabha, seeks to increase the composite foreign investment limit in insurance companies to 49% from current level of 26 %.
3) The proposed hike in foreign investment limit to 49 per cent in the insurance sector has potential to attract
up to USD 7-8 billion (about Rs 50,000 crore) from overseas investors, giving a major boost to the segment.
4) The 49% cap would include both FDI and foreign portfolio investments.

Cabinet clears coal Ordinance.


1) The Cabinet on 24th December approved re-promulgation of an Ordinance to facilitate e-auction of coal blocks for private companies for captive use and allot mines directly to state and central PSUs.
2) The government had to go in for re-promulgation of the Ordinance as the Rajya Sabha could not take up the Coal Mines (Special Provisions) Bill.
3) The re-promulgation of the Ordinance will enable the Coal Ministry to go ahead with its decision to give a
total 101 mines, including 65 through auction, in the first phase.
4) As many as 36 blocks will be directly allotted to state-owned companies. The government had increased
the number of coal mines to be auctioned or allotted in the first tranche to 101, from 92.
5) Of the 101 blocks to be allotted and auctioned in the first lot, 63 mines would be given to the power sector, while the rest would be for sectors like steel and cement.

Deadline to exchange pre-2005 notes extended till June 30 2015


i. The deadline for exchanging pre-2005 currency notes of various denominations, including Rs 500 and Rs
1000 has been extended by another six months till June, 30, 2015.
ii. The Reserve Bank of India has stated that the public can do so till June 30, 2015. Earlier in March 2014, it had set the last date for public to exchange these notes was January 1, 2015. In notes issued post 2005, the year of printing is visible at the bottom on the reverse.
iv. Post-2005 notes have added security features and help in curbing the menace of fake currency.

National Consumers Right Day Observes on 24 December 2014


National Consumers Right Day was observed across India on 24 December 2014. On this day the Consumer Protection Act, 1986 had received the assent of the President. The enactment of this Act was considered as a historic milestone in the consumer movement in the country. This Act aims to provide consumers with effective safeguards against different types of exploitation such as defective goods, unsatisfactory services and unfair trade practices. This day provides an opportunity for individuals to highlight the importance of the consumer movement and the need to make every consumer more aware of their rights and responsibilities. It should be also noted that World Consumer Rights Day is observed on 15th March every year