Current Affairs – June, 2014

Latest Current Affairs June, 2014 with Current Affairs, news summary on current events of National and International importance of June, 2014 for Banking, SSC, CLAT, UPSC, State PCS, IBPS, Railways and other Competitive Examinations.

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Navratna Status granted to EIL and NBCC

The Union Government conferred Navratna status upon two Central Public Sector (CPSEs)– Engineers India Ltd (EIL) and National Buildings Construction Corporation (NBCC).

Department of Public Enterprises under the Ministry of Heavy Industries and Public Enterprises bestowed the Navratna status to these entities to provide them greater financial and operational autonomy. It will provide the companies greater flexibility in deciding on business propositions such as forming joint ventures or taking decision on projects involving major investments.

Key criteria for CPSEs to be eligible for Navratna status:

Should have Schedule A and Miniratna Category-1 status.
Should have at least 3 excellent or very good Memorandum of Understanding (MoU) ratings during the last 5 years.
Should have a composite score of 60 or above out of 100 marks based on its performance during the last 3 years on the six efficiency parameters which are:

  1. Net Profit to Net Worth
  2. Manpower cost to cost of production or services
  3. Gross margin to capital employed
  4. Gross profit to Turnover
  5. Earnings per Share
  6. Inter-Sectoral comparison based on Net profit to net worth.

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East India Company issues Sachin Tendulkar with rare coin

In a tribute to Indian cricket legend Sachin Tendulkar, UK’s luxury goods brand East India Company issued an exclusive legal tender gold coin worth 12,000 pound sterling. The company will issue only 210 gold coins, each weighing precisely 200g, to pay tribute to Tendulkar at a global level. The issue of a ‘legal tender’ coin is an official mark of eminence given to individuals who have attained great achievements in human history.

The East India Company 

The East India Company which had ventured into India in around 1600 AD for the purpose of trade and which later became the precursor of British rule in India has launched a new office in the Qatari capital of Doha in collaboration with local partner Nasser Al Ansari of Octagon International. Although the Company was dissolved in 1874, it was re-born in 2010 and a revived East India Company launched its flagship Fine Foods store in London’s Mayfair. Since its creation in 1600 by The Royal Charter granted by Queen Elizabeth I, the influence of The East India Company has been great.

India-born Sanjiv Mehta acquired the over 400-year-old company in 2005.The Company offers products that have been crafted by artisans and specialists from around the globe using elements that have been sourced for their quality.

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