February 2013 Current Affairs

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Fact Box “Anubhuti” Railway Coaches

Owing to increased popularity of Shatabdi and Rajdhani trains, there is also a demand for higher travel comfort. Thus, was felt the need for the special AC luxury class by Railway Minister and named ‘Anubhuti’ coaches. These with more facilities would be introduced in Shatabdi trains at the earliest.

Some facts about of Anubhuti coaches:

  • Ticket to cost 1.5 times more than more than AC 1 executive class Class in Shatabdi.
  • While AC 1 has 56 seats in Shatabdi, Anubhuti will be equipped with 50 seats.
  • Ergonomically designed cushioned seats.
  • Provision of LCD video screens.
  • Whilst the cost of making an Executive Class coach is Rs. 2 crore, the additional cost of for an ‘Anubhuti coach’ is estimated at Rs. 30 lakh.
  • Automatic doors.
  • Interiors and lighting arrangements will be aesthetically designed to enhance the ambience.
  • Free Internet.
  • Improved catering services.
  • All Shatabdis will be provided with ‘Anubhuti’ coaches in due course.
  • The hiked fare for the ‘Anubhuti’ coaches may well be worth the premium.
  • Such experiences could be availed eventually in the Rajdhanis, Durontos and other superfast trains.
  • The Anubhuti coaches will be manufactured at Rae Bareli and Kapurthala.

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Parliament passes Bill to prevent offences against women at workplace

Expressing concern at the rise in offences against women, the Rajya Sabha approved the amended the Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Bill, that seeks to provide protection to women in unorganized and organized sectors including the private sector.

  • The Bill covers harassment of domestic help and agriculture workers.

The Bill, which has already been passed by the Lok Sabha

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Fact Box: Rajat Gupta

image Rajat Gupta has been ordered to pay $6.2 million for legal expenses incurred by his former employer Goldman Sachs during his trial.

Rajat Gupta (64) is India-born former Goldman Sachs director who was sentenced to two year last year for insider trading.

In US, the banks by laws are required to pay the legal fees of their top Officers and Directors. Before, his trial, Mr. Rajat Gupta entered into a deal with Goldman Sachs that if Rajat Gupta is found guilty for insider trading, he will reimburse entire amount that the Goldman Sachs pays for legal fees incurred.

Who is Rajat Gupta and what is the case?

  • Rajat Kumar Gupta, is an Indian American Businessman. He was global head of McKinsey & Company, the management consulting firm from 1994 to 2003 and a business leader in India and the United States.
  • After his rise in McKinsey, he was known as the “First India-born CEO of a global corporation.
  • Gupta also chaired as corporate chairman, board director or strategic advisor to a variety of large and notable organizations including Goldman Sachs, Procter and Gamble and American Airlines, and non-profits including The Gates Foundation, The Global Fund and the International Chamber of Commerce.

The case:

In 2007 when Gupta was Director of Goldman Sachs, he provided confidential information about the company’s investment plan and earning details, which are considered Non-Public information, to Raj Rajaratnam. He leaked the information of $ 5 billion investment which was to be made by Berkshire Hathaway into Goldman Sachs.Rajaratnam traded on the information and made profits. It was

alleged that Gupta also had some vested interest in Rajaratnam company- Galleon and he also got some benefits through that trading which is considered as Insider Trading- a corporate crime. It was also alleged that Gupta passed on non- public information about Procter & Gamble to Rajaratnam where he leaked info about company’s sale of its assets worth $ 3 billion and about its quarterly earnings which were not made public.

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