RECURRING TERMS IN NEWSPAPER THIS MONTH Today Gulf News 2014

--) Chipko Movement: The Chipko movement or Chipko Andolan is a movement that practiced the Gandhian methods of satyagraha and non-violent resistance, through the act of hugging trees to protect them from being felled. The modern Chipko movement started in the early 1970s in the Garhwal Himalayas of Uttarakhand, then in Uttar Pradesh with growing awareness towards rapid deforestation. The landmark event in this struggle took place on March 26, 1974, when a group of peasant women in Reni village, Hemwalghati, in Chamoli district, Uttarakhand, India, acted to prevent the cutting of trees and reclaim their traditional forest rights that were threatened by the contractors assigned by the state Forest Department. Their actions inspired hundreds of such actions at the grassroots level throughout the region. By the 1980s the movement had spread throughout India and led to the formulation of people-sensitive forest policies, which put a stop to the open felling of trees in regions as far reaching as Vindhyas and the Western Ghats. Today, it is seen as an inspiration and a precursor for Chipko movement of Garhwal. Its leader was Sunderlal Bahuguna.

--) BIMSTEC: The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is an international organisation involving a group of countries in South Asia and South East Asia. These are: Bangladesh, India, Myanmar, Sri Lanka, Thailand, Bhutan and Nepal.

--) International Women of Courage Award: The International Women of Courage Award is an American award presented annually by the United States Department of State to women around the world who have shown leadership, courage, resourcefulness and willingness to sacrifice for others, especially for better promotion of women's rights.

--) G D Birla award: The G D Birla award for scientific research was instituted in 1991 to recognise significant scientific research undertaken by Indian scientists below the age of 50, working in India.
--) Pakistan Day: Pakistan Day is observed in form of celebration in the country to mark the passage of the Lahore Resolution of 1940 that led to the creation of Pakistan. Apart from this, Pakistan on 23 March 1956 adopted its first Constitution, which was the day of transition of dominion of Pakistan to the Islamic Republic of Pakistan. Pakistan on 23 March 1956 became the world's first Islamic republic.

--) Basel III: Basel III (or the Third Basel Accord) is a global, voluntary regulatory standard on bank capital adequacy, stress testing and market liquidity risk. It was agreed upon by the members of the Basel Committee on Banking Supervision in 2010–11, and was scheduled to be introduced from 2013 until 2015; however, changes from 1st April 2013 extended implementation until 31 March 2018. The third installment of the Basel Accords (see Basel I, Basel II) was developed in response to the deficiencies in financial regulation revealed by the late-2000s financial crisis. Basel III was supposed to strengthen bank capital requirements by increasing bank liquidity and decreasing bank leverage.

Key principles of BASEL III

Capital requirements: The original Basel III rule from 2010 was supposed to require banks to hold 4.5% of common equity (up from 2% in Basel II) and 6% of Tier I capital (up from 4% in Basel II) of "risk-weighted assets" (RWA).[3] Basel III introduced "additional capital buffers", (i) a "mandatory capital conservation buffer" of 2.5% and (ii) a "discretionary counter-cyclical buffer", which would allow national regulators to require up to another 2.5% of capital during periods of high credit growth. Leverage ratio: Basel III introduced a minimum "leverage ratio". The leverage ratio was calculated by dividing Tier 1 capital by the bank's average total consolidated assets;[4] The banks were expected to maintain a leverage ratio in excess of 3% under Basel III. In July 2013, the US Federal Reserve Bank announced that the minimum Basel III leverage ratio would be 6% for 8 Systemically important financial institution (SIFI) banks and 5% for their insured bank holding companies.[5] Liquidity requirements: Basel III introduced two required liquidity ratios.[6] The "Liquidity Coverage Ratio" was supposed to require a bank to hold sufficient high-quality liquid assets to cover its total net cash outflows over 30 days; the Net Stable Funding Ratio was to require the available amount of stable funding to exceed the required amount of stable funding over a one-year period of extended stress.

--) Tier I Capital: Tier 1 capital is the core measure of a bank's financial strength from a regulator's point of view. It is composed of core capital, which consists primarily of common stock and disclosed reserves (or retained earnings), but may also include non-redeemable non-cumulative preferred stock. The Basel Committee also observed that banks have used innovative instruments over the years to generate Tier 1 capital; these are subject to stringent conditions and are limited to a maximum of 15% of total Tier 1 capital. This part of the Tier 1 capital will be phased out during the implementation of Basel III.

--) Tier II Capital: Tier 2 capital, or supplementary capital, include a number of important and legitimate constituents of a bank's capital base. These forms of banking capital were largely standardized in the Basel I accord, issued by the Basel Committee on Banking Supervision and left untouched by the Basel II accord. National regulators of most countries around the world have implemented these standards in local legislation. In the calculation of regulatory capital, Tier 2 is limited to 100% of Tier 1 capital.

--) International Financial Reporting Standards: IFRS is principles based set of accounting standards developed by the International Accounting Standards Board (IASB), an independent group of 15 experts. IFRS is steadily becoming the global standard for the preparation of financial statements of public companies. The IFRS establishes broad rules and dictate specific treatments in Financial reporting. International Accounting Standards Board International Accounting Standards Board (ISAB) is based at London and was founded in 2001 as a successor to the International Accounting Standards Committee (IASC). The IASB has continued to develop standards calling the new standards IFRS.
--) Bancassurance: Bancassurance or Bank Insurance Model refers to the distribution of the insurance and related financial products by the Banks whose main business is NOT insurance. So, simply Bancassurance, i.e., banc + assurance, refers to banks selling the insurance products. Bancassurance term first appeared in France in 1980, to define the sale of insurance products through banks' distribution channels. Benefits: It helps both the banks and Insurance Companies as follows: This is a referral business in which the banks tend to leverage the existing clientele. Insurance companies get the benefit because they can have distribution relationships with multiple insurers. Business Model: For Bancassurance, the Banks need to obtain a prior license from the IrDA or Insurance Regulatory and Development Authority, so that they can work as "Composite Corporate Agent" or may have "Referral Arrangement" with the Insurance Companies.
--) Retail Banking: The main characteristic of retail banking , very much similar to retail trade, is that banks directly execute transactions with consumers rather than other banks or corporations. The retail banking is characterized by multiple products, multiple delivery channels and multiple customer segments. The multiple products may include financial products such as deposits, insurance products (agency) , investments etc. The multiple delivery channels may include customer service centers, internet kiosks etc. Multiple customer segments may include the individual customers, small businessmen and corporates. The main products of the retail banking in India are as follows: Deposits products such as flexi deposits. Loan products such as housing, auto, education and personal loans Card products such as credit cards Travel products such as traveler's cheques etc.
--) What is a Lead Bank: Under the Scheme, each district had been assigned to different banks (public and private) to act as a consortium leader to coordinate the efforts of banks in the district particularly in matters like branch expansion and credit planning. The Lead Bank was to act as a consortium leader for coordinating the efforts of all credit institutions in each of the allotted districts for expansion of branch banking facilities and for meeting the credit needs of the rural economy.

Gulf News 2013  Africa News 2013 Sports News  2013

Qatar's emir Sheikh Hamad bin Khalifa al-Thani is to transfer power in the small but economically powerful Gulf nation to his son Sheikh Tamim

Sheikh Hamad, who used Qatar's immense gas wealth to drive its modernisation and transform it into a major player on the world's diplomatic scene, came to power in a coup in which he overthrew his father Sheikh Khalifa in June 1995.

He is deputy commander of the armed forces and head of the National Olympic Committee, which is in charge of hosting the 2022 FIFA World Cup in Qatar.

The tiny Gulf peninsula holds the world's third largest gas reserves and produces roughly 77 million tonnes of liquefied natural gas per year, making it the world's largest supplier.

Nelson Mandela in critical condition

Nelson Mandela is in a critical condition, South Africa's presidency has said, signalling a significant and sudden deterioration in the health of the 94-year-old anti-apartheid icon in his third week of hospitalisation for a recurrent lung infection

The condition of former president Nelson Mandela, who is still in hospital in Pretoria, has become critical," said presidential spokesman Mac Maharaj, 16 days after Mandela was admitted to the Mediclinic Heart Hospital for treatment of the lung infection.

President Jacob Zuma, accompanied by African National Congress Deputy President Cyril Ramaphosa, visited Mandela on Sunday evening.

Mandela, who was admitted to the hospital on 8th June with a recurrent lung infection, was earlier said to be in a serious but stable condition.

The doctors are doing everything possible to get his condition to improve and are ensuring that Madiba (Mandela's clan name) is well-looked after and is comfortable. 

Mandela, one of the world's tallest statesmen, led the movement to replace the apartheid regime of South Africa with a multi-racial democracy.

Mandela served as South Africa's first black president from 1994 to 1999. He won the Nobel Peace Prize in 1993.

Samsung ATIV Tab 3: World's thinnest Windows tablet

ATIV Tab 3, a tablet with the power of a PC that makes personal computing easier than ever. It will be available in UK later this year.

At only 8.2mm, the company claims it is the world's thinnest Windows tablet, with a precise S Pen for natural writing and drawing. Incredibly lightweight at just 550g, the ATIV Tab 3 is the ideal device to take on the daily commute to work and perfect for creativity and productivity. ability to run all Windows apps and programmes and comes preloaded with Office Home & Student.

 With up to ten hours of battery lifeDisplay: 10.1 inches

Processor: Intel ATOM Z2760

Camera: 720p HD

Memory: 2GB

Constables to get promoted 5 years early

In a move that will bring cheers to lakhs of constables working in paramilitary forces, the MHA has decided to re-introduce the long abolished post of 'Havildar' in forces like CRPF and BSF ensuring a 5-year faster promotion to these personnel in the lower rungs of hierarchy.

constbl

A committee of force chiefs of CRPF, BSF, ITBP, SSB and CISF recently met Union Home Secretary R K Singh after which it was decided to create and introduce this post which will lessen the long promotion time of 19-20 years for a Constable to become a Head Constable by 5 years, and he/she will be promoted in 14 years to the new post of 'Havildar'

From 'Havildar' to Head Constable the promotion time would be about two-three years which effectively means that these personnel who are the backbone of security forces will be able to get two promotions in less than 20 years as compared to the current norm of only one promotion in two decades.

The Ministry of Home Affairs (MHA) has now asked all the paramilitary forces, with an estimated strength of 5-6 lakh constables, to prepare a blueprint in this regard and soon implement this much desired welfare measure in their respective forces.

With this promotion, the constables will also get a hike in their salaries whose quantum will vary from force to force and which will be notified soon

Now, with a promotion in 14 years, the ministry has given these personnel, who are the backbone of the organisation, a silverline of hope.

Cloud solutions company Minjar acquires Adepto Solutions

Bangalore-based Minjar Cloud Solutions has acquired startup venture Adepto Solutions, which offers a platform to launch customised applications on Facebook, marking the first instance of a company being incubated in an accelerator being bought in India.

Nearly 35 privately run accelerators have sprung up across India's fast-growing accelerator ecosystem in the past year. 

Scores of young ventures coming out of these programmes are in the hunt for follow-on capital and resources to grow fledgling ventures.

Kiran Kumar, CEO of Adepto Solutions, declined to comment on the transaction, whose financial details were not disclosed. 

The Adepto-Minjar deal comes at a time when another Bangalore-based startup redBus has been acquired by ibiboGroup, funded by South African company Naspers, MIH, for $100 million ( 593 crore). 

Besides Adepto, the startups which graduated from Microsoft's India accelerator this week are explara, deck, Harness, i7 Networks, iDOS, SupportBee, TableGrabber, Tuebora and Visarity.

Wimbledon Tennis Ch’ships kicks off in London

The 127th edition of the Wimbledon Tennis Championships kicks off in London today.

Besides the top seeds like Novak Djokovic, Roger Federer, Rafael Nadal, Andy Murray, Serena Williams and Maria Sharapova, numerous players are taking part in the competition, which consists of events in Singles, Doubles and Mixed Doubles play. 

Switzerland's World Number Three Roger Federer and World Number One Serena Williams of the United States will enter this third Grand Slam of the season, as the defending champions in the Singles categories.

The tournament will see India's participation in the Men's Doubles, Women's Doubles and Mixed Doubles events. 

Leander Paes, Mahesh Bhupathi, Rohan Bopanna, with their partners, will be seen in the Men's Doubles, alongwith the duo of Divij Sharan and Purav Raja, which will play its first ever Grand Slam match today. 

In the Women's Doubles, Sania Mirza will be pairing up with American Leizel Huber.

Russian Film the Major won Golden Goblet at Shangahi Film Festival

Russian film, The Major won Golden Goblet on 23 June 2013 for best feature film at the 16th Shanghai International Film Festival.

The film talks about how things go out of control when corrupt police officers try to cover up a hit-and-run case for their colleague.

The jury headed by Oscar-winning director Tom Hooper opined that the film revealed a complicated Russian society, as well as great Russian art and storytelling tradition. 

Its director, Yuri Bykov won awards for best director and outstanding artistic achievement.

The Jury Grand Prix went to Sweden film Reliance directed by William Olsson. The film also won awards for best screenplay and best cinematography.

Hong Kong actor Nick Cheung won the Golden Goblet for best actor for the film Unbeatable.

Ten-year-old Malaysian child star Crystal Lee became the youngest actress to win the award for best actress in the festival's history.

इस जीत के साथ ही अब धौनी सभी बड़े टूर्नामेंट की ट्रॉफी अपनी झोली में डालने वाले विश्व के इकलौते कप्तान बन गए हैं।बर्मिघम। बारिश की वजह से देर से शुरू होने के कारण आइसीसी चैंपियंस ट्रॉफी 2013 का फाइनल मुकाबला 20-20 ओवर का कर दिया गया था लेकिन 2007 में टी20 चैंपियन बने भारत ने इस वनडे टूर्नामेंट के फाइनल में अपना जादू फिर दिखाया और मेजबान इंग्लैंड को रोमांचक मैच में 5 रनों से रौंदते हुए चैंपियंस ट्रॉफी का खिताब अपने नाम कर लिया। इस जीत के साथ ही अब धौनी सभी बड़े टूर्नामेंट की ट्रॉफी अपनी झोली में डालने वाले विश्व के इकलौते कप्तान बन गए हैं।