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1)The Masala bonds refer to rupee-denominated bonds through which Indian entities can raise money from foreign markets in rupee, and not in foreign currency. Basically, they are debt instruments that are typically used by corporates to raise money from investors. The issuance of rupee denominated bonds, Indian entity is protected against the risk of currency fluctuation, typically associated with borrowing in foreign currency. Masala bonds also help in internationalization of the rupee and in expansion of the Indian bond markets. These bonds are usually traded on the London Stock Exchange (LSE) and not in India.  Note The first Masala bond was issued by the International Finance Corporation (IFC), the investment arm of the World Bank dubbed as Uridashi Masala Bonds in November 2014. The Housing Development Finance Corporation (HDFC) was the first Indian company to issue rupee-denominated bonds “masala bonds” on London Stock Exchange (LSE) in July 2016. International Financial Corporation was first time issued green masala bonds in August 2015 to raise private sector investments that address climate change in India. Canada’s British Columbia province was the first foreign government to issue of masala bonds.

2)Senior IFS officer Vikas Swarup was appointed as India’s High Commissioner to Canada. He replaces Syed Akabarudddin who was shifted to United Nations as Permanent representative of India. Currently, Vikas Swarup is working as the spokesperson of Union Ministry of External Affairs (MEA). In his diplomatic career, he had served India’s several embassies including US and Turkey. He has authored few books and is best known for his novel ‘Q&A’ which has been adopted into a movie ‘Slumdog Millionaire’. 

3) Indian-origin Scotland Yard officer Shand Panesar along with his colleague Craig Nicholson was awarded 2017 Outstanding Bravery of the Year Award in special award ceremony of the Total Excellence in Policing Awards. The duo were honored with this UK’s top bravery award for risking their own lives to save a family trapped in a burning house in Hillingdon in September 2016. 

 

4) Renowned Hindi Scholar, litterateur and playwright Surendra Verma (75) was selected for the prestigious Vyas Samman 2016. He was chosen for this award for his novel Kaatna Shami Ka Vriksha : Padma Pankhuri Ki Dhar Se, published in 2010. Read more 

5) Indian Panorama Film Festival held in Port Blair 

6) The book “Hema Malini: Beyond the Dream Girl” has been penned by author-columnist Ram Kamal Mukherjee. It’s about actress achievement as a politician apart from her sojourn as an actor, danseuse and filmmaker. It will offer a new perspective on Bollywood’s first female superstar. 

7) India’s first sports literature festival ‘SporTale’ will be held in Pune on February 2, 2017. The 2-day event will feature approx 38 luminaries from the field of sports, media, cinema, books and photography. 

8) Simone Biles, an American artistic gymnast, has won the Laureus World Sports Awards for Sportswoman of the Year 2017 at a ceremony in Monaco. She is the first woman to win four gymnastics gold medals in a single Olympic Games, Beside this, the Sportsman of the Year 2017 goes to Jamaican sprinter Usain Bolt and Chicago Cubs (Basket Ball) won the 2017 Team of the Year award. 

9) According to scientists from Goa based National Institute of Oceanography (NIO), India’s only live volcano at Barren Island in the Andaman and Nicobar has become active again. After lying dormant for 150 years, Barren Island volcano had erupted in 1991 and since then it is showing sporadic activity. Now it is erupting in small episodes of five to 10 minutes.

10) Former Chief Justice of Supreme Court Altamas Kabir passed away in Kolkata. He was 68. He had served as 39th Chief Justice of India for brief tenure of about nine months from September 2012 to July 2013  He was born on July 19, 1948 in Kolkata. He was nephew of the well-known Bengal writer and politician, Humayun Kabir. He had completed his LLB and MA from the University of Calcutta. He had started his legal career in 1973 when he enrolled as an advocate. He was appointed a permanent judge in Calcutta High Court in 1990 and Chief Justice of the Jharkhand High Court in 2005. Later in 2005, he was elevated to the Supreme Court. During his brief tenure as CJI, Justice Kabir delivered several landmark judgments particularly on election laws and human rights. 

11) Geologists have claimed discovery of new geological continent named Zealandia submerged beneath the south-west Pacific Ocean. Zealandia is around 4.5-million square km land mass and is 94% under water. Only its highest points — New Zealand and New Caledonia are visible.  Read more