DAILY CURRENT AFFIARS 25, 26 DEC. 2014
1. GOVERNMENT APPROVED ORDINANCE FOR INSURANCE BILL
o Foreign Investment cap in insurance sector has been increased from 26% to 49 %.
o Government re-promulgate Ordinance to allow resumption of coal block allocation.
o Government opened the medical device sector to foreign investment by allowing 100% FDI in these devices.
o Insurance sector FDI will result in capital inflow of $6-8 billion
2. 25-DECEMBER-GOOD GOVERNANCE DAY
o The Government of India has declared 25 December, the birth anniversary of former Prime Minister Atal Bihari Vajpayee as Good
o Atal Bihari Vajpayee and Pandit Madan Mohan Malviya, the founder of Banaras Hindu University were Given Bharat Ratna recently.
3. ARMS TRADE TREATY (ATT)CAME IN TO FORCE
o Global Arms trade Treaty regulating $85 billion came in to force.
o 60 nations had ratified and 130 had signed the treaty.
o The ATT was adopted by UN General Assembly on 2 April,2013.
o India was among 23 nations that had abstained from voting on treaty resolution last year.
o UN secretary Ban Ki Moon said that Treaty will help prevent transfer of weapons to terrorist and Human rights Abuser.
o India said that treaty resolution was Weak on terrorism and non state actors.