Current Affairs - 15th May 2014

Recommendations of PJ Nayak committee

The committee has recommended that government should reduce the holding in Public Sector banks by 50% and more to avoid the upcoming banking debacle which could be faced because of rising NPAs. The committee was headed by PJ Nayak, ex chairman of Axis bank.

Most expensive home in the world

Indian billionaire Mukesh Ambani’s home “Antillia” 27-story, 400,000-square-foot skyscraper home in Mumbai is the most expensive home owned by any billionaire in the world. In second place on the list is ‘Villa Leopolda’, the home of Brazilian philanthropist and social figure Lily Safra in France.

Irrigation project with Rwanda

Rwandais set to take up a irrigation project worth $120 million with Indian assistance. East African nation has planned the irrigation project to aid its export-oriented agriculture. India has already poured in about $500 million of FDI in Rwanda.

Top 50 Asian universities

In the list of top 50 Asian universities, only two Indian universities appear with IIT Delhi and IIT Bombay only.