First human artificial heart transplant executed in France
An artificial heart that can give patients up to five years of extra life has been successfully implanted for the first time, at Georges Pompidou Hospital in Paris, France. The equipment designed to overcome the worldwide shortage of transplant donors was produce by French Biomedical firm Carmat, a start-up funded by the Dutch-based European Aeronautic Defense and Space Company (EADS).
About Artificial Heart
Powered by external, wearable Lithium-ion batteries.
Inside the heart, surfaces that come into contact with human blood are made partly from bovine tissue instead of synthetic materials such as plastic that can cause blood clots.
Uses a range of “biomaterials”, including bovine tissue, to reduce the likelihood of the body rejecting it.
Weighs about 900g (around 2 lb) – nearly three times more than an average healthy human heart. It is expected to cost 140,000 to 180,000 euros in Europe.
It mimics heart muscle contractions and contains sensors that adapt the blood flow to the patient’s moves.
Intended to replace a real heart for as many as five years, unlike previous artificial hearts that were created mainly for temporary use.
Ms. Usha Sangwan: The first woman managing director of LIC
The Government of India appointed Ms Usha Sangwan as the first woman managing director of Life Insurance Corporation of India (LIC) and Vijay Kumar Sharma as an MD and chief executive officer of LIC Housing Finance. With these appointments, LIC is set to function at its full strength of four MDs. These are S B Mainak, Sushobhan Sarkar, Usha Sangwan and V K Sharma.
As per the norms, LIC can have four MDs, and a chairman, as part of its top management.
About Life Insurance Corporation of India (LIC)
Indian state-owned insurance group and Investment Company.
Headquarters: Mumbai.
Founded: 1 September 1956.
Current Chairman: SK Roy
Offers a variety of insurance products to its customers such as insurance plans, pension plans, unit-linked plans, special plans and group schemes.
India-Venezuela: Signed Cultural Exchange Programme
India and Venezuela signed a programme on cultural exchanges in the fields of publication, film and media, image and space arts, stage and music arts. The programme will last for three years and will be renewed automatically thereafter.
Excerpts of the Programme of Cultural Exchange
To promote the exchange of bilingual publications (traditional and contemporary stories).
To make an issue of the magazine ‘’Actualidades” (a CELARG publication) on the Republic of India or on Indian writers.
On a reciprocal basis, participation of India in the Venezuela’s International Book Fair.
To encourage the participation of Venezuelan and Indian poets and writers in the literature festivals organized by both countries.
To encourage the participation of India in the Venezuela’s World Festival of Poetry.
To boost the exchange of knowledge with specialists in the field of drawing techniques with natural pigments, specialists in dying with natural inks, as well as the use of enzymes.
Participation of a Venezuelan theatre company in the New Delhi’s Festival to diffuse the Venezuelan theatre in the Republic of India.
Encourage the acquisition of Distribution Rights of Indian film works by the film distributor Amazonia Films.
Encourage the institutional links between the Autonomous National Center of Film Making of the BolivarianRepublic of Venezuela and the Institute of Cinema and Television of the Republic of India.
Participation of one dancer or couple of dancers from India at the International Dance Festivals Solos y Duetos (Solos & Duets).
Canara Bank got license to open a branch in New York
To expand its global presence, the Canara Bank received a license from the US regulators to open a branch in New York. As stated by the Chairman and Managing Director of Canara Bank, R. K. Dubey, the Board of Governors of the US Federal Reserve approved the proposal of the bank to open a branch in New York. This is the first time that an Indian bank has secured an approval of the US regulators.
About Canara Bank
An Indian state-owned bank.
Headquarters: Bangalore, Karnataka.
Founded: 1906
Operates in four segments: treasury operations, retail banking operations, wholesale banking operations and other banking operations.
SEBI sets out deposit norms for members in debt segment
The Securities and Exchange Board of India (SEBI) sets out minimum deposit requirements for members in the debt segment of the stock exchanges.
As per the circular issued by SEBI –
As per the norms for stock brokers and proprietary trading members, the base minimum capital requirements will be applicable for the debt segment as well.
As per the profile of the members, the base minimum deposit requirements range from Rs 10 lakh to Rs 50 lakh for members of stock exchanges having nation-wide trading terminals.
For Clearing Members (CM) and Self Clearing Members (SCM) the deposit shall be Rs 10 lakh. No exposure shall be granted against such deposit requirement of the CM/SCM.
No deposit will required from members seeking registration in the debt segment if they are already members of another segment on the stock exchange.
No deposits would be applicable in case, the clearing members ‘clears and settles trades only on gross basis for both securities and funds, and where no settlement guarantee is provided by the clearing corporation.
CCEA approved Rs 6,600 cr interest-free loans for sugar mills
The Cabinet Committee on Economic Affairs (CCEA) approved Rs 6,600 Crore interest-free loans to cash-starved sugar mills in order to make payments to cane farmers. The interest subvention will be 12%, which will be borne by the Sugar Development Fund.
The loans provided by banks to sugar mills are solely for making payments to sugarcane farmers, including arrears. The loans are equivalent to the excise duty paid by the mills in the past three years. Mills will have to repay the loans in five years and can avail of a moratorium on repayment for the first two years.
The PM-constituted panel headed by Agriculture Minister Sharad Pawar recommended for interest- free loans, to help millers to clear dues and make timely payment in the current crushing season 2013-14 to cane growers.
Currently, sugar industry is facing a financial crisis due to higher cost of production and decline in the prices of sugar. This has led to Rs. 3400 crore cane arrears from 2012-13 during the marketing year that ended in September 2013. Thus, owing to liquidity crunch, the sugar mills demanded interest-free loans for working capital requirement, hike in import duty, and export subsidies among others. This financial package will allow millers to pay money they owe to the farmers.
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