1. Reserve Bank to pick talent via UPSC-like test
i. The Reserve Bank of India will adopt a common recruitment system from next year to tap talent for its core functions. The larger objective is to strengthen itself in the changing economic scenario.
ii. “Starting from 2015, there shall be common recruitment for all core functions of the bank,” the RBI said in an internal report on HR initiatives.
iii. At present, it recruits officers and support staff for core and non-core functions through different examinations, such as the Grade ‘B’ officers level exam. The RBI now has about 17,000 employees.
iv. The proposed common recruitment will not only cover traditional areas such as economics and statistics but also include niche skills, such as risk management, financial markets trading, accounting, legal, human resources management and counselling.
v. The officers that are recruited will have a common seniority. In effect, it will be like the common cadre under the All India Services of the Union Public Service Commission.
vi. The Reserve Bank Services Board hopes to complete the entire recruitment cycle within three to four months.
2. RBI sets 70 years as upper age limit for MD, CEO of pvt banks
i. The Reserve Bank of India on Tuesday decided to fix the maximum age for Managing Directors and Chief Executive Officers in private sector banks at 70.
ii. RBI said in the light of the provisions of the Companies Act, 2013, the upper age limit for Managing Director & Chief Executive Officer (MD & CEO) and other Whole Time Directors (WTDs) of banks in the private sector should be 70 years.
iii. Within the overall limit of 70 years, individual bank’s boards are free to prescribe a lower retirement age for WTDs, including MD & CEO, as an internal policy, RBI said in a circular.
iv. RBI said the Companies Act, 2013 prescribes that "no company shall appoint or continue the employment of any person as Managing Director, Whole Time Director or Manager who is below the age of 21 years or has attained the age of 70 years''.
3. Scientist Kamal Bawa gets 2014 Midori Prize in Biodiversity
i. Indian scientist Kamal Bawa, a distinguished professor of biology at the University of Massachusetts in Boston, has won the 2014 Midori Prize in Biodiversity for his research, including in climate change in the Himalayas.
ii. Bawa, founder president of the Ashoka Trust for Research in Ecology and the Environment (ATREE) in Bangalore, will receive the prize with a cash award of $100,000 during the Oct 16-17 Conference of Parties (COP-12) to the Convention on Biological Diversity (CBD) in South Korea.
iii. The prize also honours his contributions to research in ecology of tropical forests, sustainable use of tropical forests, promoting engagement of civil society in conservation efforts, and for his leadership role in setting up ATREE.
iv. The announcement of the prize was made Monday at the Convention on Biological Diversity Secretariat in Montreal, and at the AEON Environmental Foundation in Japan, co-hosts of the prize, according to a media release from ATREE.
v. The prize honours individuals who have made outstanding contribution to biodiversity conservation and sustainable use of resources at local and global levels, and raised awareness about biodiversity.
vi. The Midori Prize is regarded a major element "at the service of the objectives of the United Nations Decade on Biodiversity 2011-2020".
4. US open: Marin Cilic wins Men's Singles title
i. Croatia's Marin Cilic has won Men's Singles title at the US Open Tennis. Cilic defeated Kei Nishikori of Japan in straight sets to clinch the title in New York last night.
ii. He appeared to be the dominant side throughout the match and capped the final set in convincing fashion.
iii. The 25-year-old Cilic's strong service gave him a dominant advantage against Nishikori who held tough, but never really appeared to threaten Cilic.
iv. World No.14 Cilic claimed his first Grand Slam title with the win in his first appearance in a Grand Slam final. His previous best finish was a semifinal appearance at the 2010 Australian Open.
5. ICC suspends Pakistan's Saeed Ajmal for illegal bowling action
i. The International Cricket Council, ICC, today suspended Saeed Ajmal, Pakistan's off spin bowler, for illegal action.
ii. Ajmal has been suspended from bowling in international cricket with immediate effect. An analysis of Ajmal's action revealed that all his deliveries exceeded the 15 degrees level of tolerance permitted under the regulations. iii. However, Pakistan Cricket Board Chairman Shaharyar Khan said that the board will challenge the decision.
iv. Meanwhile, Saeed Ajmal today said that he has not given up and is ready to fight his way back and represent the country in next year's ICC World Cup.
v. Saeed was reported after the first Test match against Sri Lanka in Galle last month. He can apply for a e-assessment after he has modified his bowling action. Ajmal has played 35 Tests , grabbing 178 wickets.
6. Former NASA Scientist Dr. Noel W. Hinners died
i. A former NASA chief scientist Dr. Noel W. Hinners died on 5 September 2014 due to brain tumor. He was 78.
ii. He was involved in the scientific exploration of the moon for the Apollo program and later oversaw projects such as the Mars Surveyor Program.
7. Indian movie Court won best debut award at Venice Film Festival
i. Court, an Indian movie written and directed by Indian writer Chaitanya Tamhane, on 7 September 2014 won the Lion of the Future – Luigi De Laurentiis award for a Debut Feature at the 71st Venice Film Festival. The film that is a multilingual courtroom drama, won the award for its striking narrative style.
ii. With this award, the film won a monetary prize of 100000 US dollars that was donated by Filmauro di Aurelio e Luigi De Laurentiis. This amount should be divided between director and producer.
iii. Court was also was awarded with the Orizzonti award for best film
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