GA Updates

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Current Affairs on 08-JULY-2015 1) IDBI signs refinance agreement with Mudra Bank State-run IDBI Bank has signed an agreement withMudra Bank for refinancing of loans given to small enterprises. As per the agreement, the Bank will offer credit facilities up to Rs 10 lakh to micro enterprises, at a competitive interest rate under Pradhan Mantri Mudra Yojana (PMMY) and Mudra will be providing refinance assistance to the bank for eligible sanctioned loan cases. The refinance scheme will be implemented through all the branches of the lender. The agreement was signed by IDBI Bank Executive Director S K V Srinivasan and Mudra Bank CEO Jiji Mammen. 2) MNREGA world’s largest public works programme: World Bank World Bank has ranked the Mahatma Gandhi National Rural Employment Gurantee Act (MGNREGA) as the world’s largest public works programme. The programme provides social security net to almost 15 percent of the country’s population. India is among the five middle-income countries running the world’s largest social safety net programmes. India’s Mid-day meal scheme has been classified as biggest school feeding programme benefiting 105 million beneficiaries. The World Bank ranked the Janani Suraksha Yojna with 78 millionbeneficiaries as the top-most social security programme with conditional cash transfers. 3) New category of NBFCs to help cross-sell financial products The Reserve Bank of India’s (RBI’s) decision to allow setting up of new kind of non-banking financial companies (NBFCs) that would act as account aggregators will help in cross-selling of financial products to customers and contribute to fee-based income for NBFCs. The central bank would put in place a regulatory framework to allow a new kind of NBFC, which could act as an account aggregator to enable the common man see all his accounts across financial institutions in a common format. The idea of such an NBFC had emanated from the Financial Stability and Development Council (FSDC).

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Transcript of GA Updates

Page 1: GA Updates

Current Affairs on 08-JULY-2015

1) IDBI signs refinance agreement with Mudra Bank

State-run IDBI Bank has signed an agreement withMudra Bank for refinancing of loans given to

small enterprises.

As per the agreement, the Bank will offer credit facilities up to Rs 10 lakh to micro enterprises,

at a competitive interest rate under Pradhan Mantri Mudra Yojana (PMMY) and Mudra will be

providing refinance assistance to the bank for eligible sanctioned loan cases.

The refinance scheme will be implemented through all the branches of the lender.

The agreement was signed by IDBI Bank Executive Director S K V Srinivasan and Mudra Bank

CEO Jiji Mammen.

2) MNREGA world’s largest public works programme: World Bank

World Bank has ranked the Mahatma Gandhi National Rural Employment Gurantee Act

(MGNREGA) as the world’s largest public works programme.

The programme provides social security net to almost 15 percent of the country’s population.

India is among the five middle-income countries running the world’s largest social safety net

programmes.

India’s Mid-day meal scheme has been classified as biggest school feeding programme

benefiting 105 million beneficiaries.

The World Bank ranked the Janani Suraksha Yojna with 78 millionbeneficiaries as the top-most

social security programme with conditional cash transfers.

3) New category of NBFCs to help cross-sell financial products

The Reserve Bank of India’s (RBI’s) decision to allow setting up of new kind of non-banking

financial companies (NBFCs) that would act as account aggregators will help in cross-selling of

financial products to customers and contribute to fee-based income for NBFCs.

The central bank would put in place a regulatory framework to allow a new kind of NBFC, which

could act as an account aggregator to enable the common man see all his accounts across

financial institutions in a common format.

The idea of such an NBFC had emanated from the Financial Stability and Development Council

(FSDC).

The new model of NBFCs will help in financial inclusion, which has been a key focus for RBI,

which is also in the process of assessing applicants for granting licences for payments bank

and small finance banks.

4) Axis Bank launches touch identification for iPhone users

Axis Bank, the country’s third largest private sector lender, has now allowed its iPhone

customers totransact using their fingertips. For this, the customer needs to authenticate their

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fingerprint using theiPhone’s Touch ID (available in the iPhone 5S and higher versions) on the

mobile phone application.

The bank launched the new feature to provide convenience to the customers who are always

struggling to remember PIN passwords and having to deal with the hassle of keying in.

For using this, the customer’s fingerprint needs to be set up on the Axis Mobile app after which

they can authenticate subsequent financial transactions by either using the Touch ID or their

mobile PIN.

5) Bank of Tokyo-Mitsubishi to double branch count in India

The Bank of Tokyo-Mitsubishi UFJ (BTMU), largest bank in Japan, plans to double its branches

in India to 10 over the next three years.

It has targeted 10 percent credit growth in the current financial year.

India is being identified as an important growth market in Asia by the parent, according to India

Ratings.

BTMU India lends to large domestic companies, global non-Japanese multinational corporate

groups, and local subsidiaries and joint ventures of Japanese companies. It plans to expand its

business towards highly rated Indian companies.

6) MoEFCC holds meeting with 6 states to review ESA demarcation progess in Western Ghats

Union Ministry of Environment, Forests & Climate Change (MoEFCC) held a meeting with 6

states in New Delhi to review the progress of demarcation of Ecologically Sensitive Areas

(ESA)along the Western Ghats region.

The crucial meeting discussed the progress made by states to physically demarcate ESA in this

region in order to decide the further course of action in the ambit of recommendations made

by Kasturirangan Committeereport (2013).

The meeting was chaired by Union Environment Minister Prakash Javadekar and was attained

by environment Ministers of six States viz. Tamil Nadu, Kerala, Karnataka, Goa, Maharashtra

and Gujarat.

Focus: To set policy guidelines to conserve the biodiversity of the Western Ghats region.

Provide adequate opportunities for livelihood security to the local people in the broad paradigm

of ESA.

7) Railway Minister Suresh Prabhu launched paperless mobile ticket system

Railway Minister Suresh Prabhulaunched the paperless mobile ticket system on Mumbai’s

Western Railway’s suburban system.

The passengers can take advantage of the facility by using Unreserved Ticketing Service or the

“UTS App” available on Windows and Android mobile platform and maintaining a balance in

their R-wallet.

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Under this system, passengers can buy multiple tickets for any class following which an image

in PDF format will be received on the phone which cannot be forwarded or edited.

The central railway is also planning to introduce the system for its suburban commuters by

August this year. The app will soon be extended to other mobile platforms other than Android

and Windows.

8) Digital signing service launched in Delhi

The new digital signing service called e-Hastakshar, developed by city-based Centre for

Development of Advanced Computing (C-DAC), launched in New Delhi by Prime

Minister Narendra Modi.

Using this service, people will be able to duly and safely use electronic signature, that can be

used at the time of sharing documents electronically.

This provision has taken the Indian IT Act 2000 and other legal constraints into the picture.

As a provider of Digital Signature Certificates (DSC) and eSign services, C-DAC will be the

Certifying Authority (CA) under the Controller of Certifying Authorities (CCA).

9) Meiji Period Sites of Japan gets UNESCO World Heritage Site Status

Japan’s Meiji-era (1868-1912) industrial revolution sites have received World Cultural

Heritage status from United Nations Educational, Scientific and Cultural Organization

(UNESCO).

Decision in this regard was taken during the 39th session of the World Heritage Committee

chaired by Maria Bohmer inBonn, Germany.

With this inclusion, the total Cultural sites with UNESCO World Heritage Status in Japan have

increased to 15 along with 4 natural sites.

Contributed in Japan’s evolution from feudalism to a successful industrialised modern economy.

Represents the first successful transfer of Western industrialization to a non-Western nation in

19th century.

10) India, Kazakhstan launch first drilling at Satpayev oil block

Prime Minister Narendra Modi and Kazakhstan premier Karim Massimov have jointly launched

the first exploratory drilling of the Satpayev oil block by Indian company ONGC Videsh Limited

(OVL) andKazakhstan company KazMunaiGaz.

OVL, the overseas arm of state-run ONGC had in 2011 picked up 25 percent stake in the

Satpayev oil block in the North Caspian Sea.

ONGC Videsh has committed to investing 400 million dollar in exploration in the block. This

significant step would achieve energy security needs of Make in India programme of the

government as well countering the strategic foothold gain of China in the Central Asian region.

The Satpayev oil block is an offshore field in the Northern Caspian sea, with potential reserves

estimated at 1.8 billion barrels crude oil and natural gas.

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The Prime Minister held talks with his Kazakhstan counterpart Karim Massimov on various key

bilateral and regional issues.

Kazakhstan: Capital: Astana, Currency: Kazakhstani tenge, President: Nursultan

Nazarbayev, Prime Minister: Karim Massimov

11) India overtakes US as 3rd largest steel producer:

India has overtaken the US to become the world’s third largest steel producer and is working

towards achieving 300 million tonnes (MT) target in the next 10 years.

So far India was the 4th largest steel producer in the world only after China, Japan and the US.

However, during the first five months of this calendar year, India has achieved the 3rd position

in the global steel production.

India has fixed a target of 300 MT production capacity by 2025 and the steel ministry is working

out action plan and strategies to achieve this target.

12) Sriram Kalyanaraman appointed MD & CEO of National Housing Bank

The Centre has appointed Sriram Kalyanaraman asManaging Director and Chief Executive

Director at National Housing Bank.

Prior to this appointment, Kalyanaraman was Director-Business Development, Equifax Credit

Information Services Pvt Ltd.

The appointment of Kalyanaraman is unique in that he is the first person from the private sector

to head a public sector financial institution.

13) ICRISAT unveils $300 phablet for farmers

A customised low-cost combination phone and tablet computer called ‘GreenPHABLET

powered by the GreenSIM’ was launched by theInternational Crops Research Institute for the

Semi-Arid Tropics (ICRISAT).

To improve productivity and profitability of small farmers in the state, the state government and

the International Crops Research Institute for the Semi-Arid Tropics (Icrisat) have joined hands

to implement Information and Communication Technology (ICT)-based knowledge sharing

platforms and other agricultural innovation initiatives.

The Hyderabad-headquartered ICRISAT launched the Green Phablet, priced at $300 (about

Rs. 18,600), for farmers in Telangana.

The institute would maintain servers to safe keep the information. And even if a user loses his

device, he would be able to get back the information in no time.

ICRISAT Director-General David Bergvinson signed a tripartite agreement with the

Departments of Agriculture and Information Technology to collaborate in transforming

agriculture using digital technologies.

14) NDDB launches mobile app for dairy farmers

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National Dairy Development Board (NDDB) launched a mobile application that will recommend

a balanced diet for cows and buffaloes to help boost dairy farmers’ income by raising milk yield

and cutting feed cost.

The mobile application, named ‘Pashu Poshan’, was launched by the Union Agriculture Minister

Radha Mohan Singh.

The application, which will be available on both web and android platforms, can be accessed by

registering on the INAPH portal (inaph.nddb.coop).

This application will benefit dairy farmers across the country. This resulted in reducing the feed

cost by Rs 5-15 per day per animal and an average increase in milk production by an average

300 ml per animal per day.

India is the largest milk producer in the world, but the biggest challenge for the domestic dairy

sector is low productivity of its bovine population as compared to developed countries.

15) Indian captain Mithali Raj becomes second woman to score 5000 ODI runs

A captain’s knock by Mithali Raj in the ongoing ODI series against New Zealand women

enabled the Indian team to register a comfortable eight-wicket victory in the fourth ODI. India

levelled the five-match series 2-2.

Mithali’s stylish unbeaten knock of 81 was the cornerstone of India successful chase of 221 in

only 44.2 overs.

In the course of her innings, Mithali Raj made history. Mithali became the first Indian and

second in women’s ODI history to complete 5000 runsafter England’s Charlotte Edwards.

Information Technology to collaborate in transforming agriculture using digital technologies.

16) HDFC Bank launched watch banking application for Apple Watch

HDFC Bank, the country’s second largest private sector bank, launched Watch Banking

application for Apple Watch in the first week of July 2015.

With this, HDFC became the first bank in India to offer the service of Watch Banking. In order to

avail this service, customer will not be required to download a separate app but they just need

to activate it from an upgraded version of HDFC Bank’s mobile banking app itself.

The Apple Watch app will work via Bluetooth on iPhone 5 and above versions. The application

will allow customers to make around 10 banking transactions, like account information (on

savings, current, fixed deposits), credit cards, mobile and DTH recharge, request account

statements and cheque books.

Current Affairs on 09-JULY-2015

1) eMudhra launches eSign Services

eMudhra Limited, a leading certifying firm in the country for digital signatures launched first of its

kind eSign services in the country as part of the Digital India Vision.

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eSign is an online electronic signature service legally valid and secure under the Information

Technology Act, 2000. It will facilitate an Aadhaar holder to digitally sign a document within

seconds.

It seeks to pave the way for a digital transformation into a paperless environment by

revolutionising the way of business and governance conducted in the country.

The firm which claims to be the first to start eSign services has also launched eMlocker –

eMudhra’s Digital Locker.

By using eMlocker along with eSign, one can store documents such as PAN cards, Aadhaar

cards, electricity bills or any other documents electronically. One can also sign and attest them

using eSign and send to anybody.

2) BRICS Central Banks Sign Forex Reserves Pool Pact

The five major emerging national economies, known by the acronym BRICS, were a step closer

to setting up a $100 billion pool of mutual reserves by signing an “operational agreement”.

The pool would be drawn on by the central banks of Brazil, Russia, India, China and South

Africa whenever they suffered a shortage of dollar liquidity, helping them maintain financial

stability.

The five central banks signed the agreement, which outlines the terms of mutual support for

member states in the framework of the agreement on BRICS Pool of Conventional Currency

Reserves.

China will contribute $41 billion to the currency pool. Brazil, India and Russia will each provide

$18 billion, while the remaining $5 billion will come from South Africa.

3) Union Government declares whole of Nagaland as ‘disturbed area’

Union home ministry has declared entire Nagalandstate as a ‘disturbed area’ for one year

period with an immediate effect from June 30, 2015.

The state was declared as “disturbed” area underSection 3 of the Armed Forces (Special

Powers) Act, 1958.

With this declaration the armed forces get powers to search, raid and arrest anyone without a

warrant.

This decision was taken after Naga rebel outfit, Nationalist Socialist Council of Nagaland-

Khaplang (NSCN-K) had ambushed on Indian Army convoy killing 18 Army personnel in

in Chandel district of Manipur in June 2015.

Union government also has initiated the process to reimpose ban on NSCN(K) under

the Unlawful Activities Prevention Act, 1967. This ban will help the security establishment to

crack down upon the outlawed elements and also freeze their assets and properties.

4) Union Government decides to develop villages within 10 km of IB on priority

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Union Government has decided to develop all villages located within 10 kilometres vicinity of

theinternational border on a priority basis.

It was decided by the Union Home Ministry in consultation with Ministries of Rural Development,

Sports, Health and Human Resources Development.

These villages will be developed under the Border Area Development Programme (BADP) with

special emphasis on promotion of sports activities and rural tourism.

Key facts:

The funds under BADP for this initiative will be provided to the states as a 100 per cent non-

lapsable special central assistance.

It will be supplemented from the budgetary allocation of Rs. 990 crore for the financial year

2015-16. The development of villages under BADP will include schemes such as Swachh

Bharat Abhiyan, Promotion of sports activities in border areas.

Skill Development Programmes along with promotion of rural tourism (i.e. border tourism) and

protection of heritage sites.

5) Tata Group to sign 3 MOUs with Tripura government

Tripura government and Tata Trusts signed an agreement for undertaking various programmes

in sectors such as education, health and farming,among others.

A delegation of representatives of Tata Trusts led by Chairman Ratan Tata sign a memorandum

of understanding (MoU) with the government.

The initiative aims to implement interventions in thematic areas of dairy development, fisheries,

skill development, education, nutrition and health for improvement in the quality of life of the

people.

The agreement would provide higher technological know-how to two Industrial Training

Institutes in West Tripura and Dhalai districts, set up a dairy farm at Ambassa and augment fish

production in the state.

6) Vadodara, Chinese province ink deal to develop twin cities

Vadodara district of Gujarat and China’s Xinjinagprovince has inked a memorandum of

understanding (MoU) for the development of twin cities.

It was signed between Vadodara Municipal Corporation and Changji Hui Autonomous

Prefecture of Xinjinag Uygur Autonomous Region in Mumbai.

The MoU aims to enhance Infrastructure growth and development between the two regions.

Mutual cooperation in economic, technological, scientific and cultural strengths between both

cities.

People-to-people exchanges fostering greater mutual understanding.

The MoU was signed in the presence of Mayor of Vadodara and the Governor of Changji state

Ma Xiongcheng along with five ministers.

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7) India, Russia signed an MoU for funding of hydro-power projects

In a significant step in economic cooperation, Russia’s Direct Investment Fund (RDIF) signed

an MoU with India’s Infrastructure Development Finance Company (IDFC) for funding of hydro-

generation projects.

RDIF has signed an MoU with its partners in the BRICS member-states to work with sovereign

funds, with the BRICS Bank and invest in the equity of infrastructure projects in these countries.

MoU with five funds from our five countries: the Russian Direct Investment Fund, the Silk Road

Fund from China, the IDFC (Infrastructure Development Finance Company) from India, the

Development Bank of South Africa and the Brazil BTG Pactual fund.

8) UNESCO names 24 new world heritage sites

World Heritage Committee of the United Nations Educational, Scientific and Cultural

Organization, UNESCO concluded its annual meeting in Bonn, Germany, after inscribing 24

new sites into the World Heritage List.

In the past 10 days, over 2,000 delegates from around 160 countries gathered to examine

nominations of new heritage sites and reviewed the state of conservation of sites already in the

heritage list.

Out of the 36 sites that were examined this year, 24 sites were granted world heritage status for

their outstanding universal value, increasing the total number of world heritage sites to 1,031.

9) India’s first pro boxing body launched

Professional boxing took baby steps in India with the launch of the first national governing body.

Named the Indian Boxing Council (IBC), it will sanction professional matches and award

national and subordinate championship titles. It will promote pro boxing in the country and

facilitate pugilists who wish to turn professional in the hope of fat pay cheques.

IBC will be a not-for-profit organisation whose intention is to facilitate boxers who want to

become professional.

10) India women clinch series

India battered New Zealand by nine wickets to win their five-match women’s One-day

International series 3-2 at the M.Chinnaswamy Stadium.

It was India’s first ODI series victory since January 2014, when it had crushed South Africa 3-0.

After the win, the BCCI announced a cash award of Rs 21 lakh for the team as they fought back

from being 2-1 down to win the series.

11) Russian cosmonaut Gennady Padalka entered Guinness World Records for spending 804

days on ISS

Russian cosmonaut Gennady Padalka entered Guinness World Records for spending most

number of days in the space. He achieved the feat by spending 804 days on the International

Space Station (ISS).

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He surpassed cosmonaut Sergei Krikalev, also a Russian, record of 803 days, nine hours and

41 minutes in the space which Sergei achieved across six missions from 1998 to 2005.

Padalka, who is also the commander of the crew on the ISS, is scheduled to return to earth in

September 2015. It means he would have spent a total of 877 days in space by then.

ISS is a space station that was launched in 1998. It is the largest artificial satellite body that

orbits earth nearly 400 km above the surface and it can be seen with naked eye. ISS moves at

a very high speed and it completes 15.54 orbits per day.

12) India, Kazakhstan signed five Agreements including a contract for supply of uranium

India and Kazakhstan signed five agreements during the two-day visit of Prime Minister

Narendra Modi to Kazakhstan. The agreement was signed in the presence of PM Modi and

Kazakh President Nursultan Nazarbayev in Astana, the capital of Kazakhstan.

List of Agreements signed:

o Agreement on Transfer of Sentenced Persons.

o Agreement on Defence and Military – Technical Cooperation

o Memorandum of Understanding (MoU) on Cooperation on Physical Cultural and Sports

o MoU on Technical Cooperation in the field of Railways

o Long term contract between Department of Atomic Energy, India and KazAtomProm for sale

and purchase of natural uranium concentrates.

o In addition to above agreements, a MoU between JSC “Kazxnex Invest” and JSC “Invest India”,

which includes a Road Map on Trade, Economic and Investment Cooperation was also signed

during the visit.

13) Infosys bags multi-million euro deal from Deutsche Bank

Country’s second largest IT services firm Infosys has signed a multi-million euro

deal with Deutsche Bank.

Under the terms of the multi-year agreement, Infosys will provide services like development,

application maintenance, digital and mobility, package implementation and testing services

across the Deutsche Bank Group.

The Bengaluru-based firm will also be a strategic partner under Deutsche Bank’s Supplier

Partnership Programme.

The programme was launched in June 2014 to concentrate the most strategic vendors based

on business impact across all categories of the bank.

14) Lord Kamlesh Patel becomes first British-Asian appointee to ECB Director

Professor Lord Kamlesh Patel has become the first British Asian to be appointed as Director of

Englandand Wales Cricket Board (ECB).

He succeeds Lord Morris of Handsworth, who had stepped down after 11 years as an ECB

Director. Lord Patel was born to Indian parents in Nairobi, Kenya.

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He had played cricket for number of local clubs and was all-rounder. He had retired in 1998

from cricket after taking all 10 wickets in a league game. He formerly had worked for the

Yorkshire Cricket Academy as a part-time coach.

He was appointed as an Officer of the Order of the British Empire (OBE) in the 1999.

15) Ashok Haldia appointed MD and CEO of PTC India Financial Services

Ashok Haldia was appointed the company’s new Managing Director and Chief Executive Officer

of PTC India Financial Services.

Haldia has been a part of the company’s board as a whole-time director for the last seven

years.

Prior to joining PTC India Financial Services, Haldia served as a Secretary in the Institute of

Chartered Accounts of India. He has also been a member of several Central Government

committees.

16) SN Sahai appointed as Delhi’s new Home Secretary

Senior IAS officer S N Sahai has been appointed as the new Home Secretary of Delhi, who is a

1986 batch Union Territory cadre officer.

Mr. Sahai’s name was zeroed in as a compromise candidate for the high post after continuous

tussle between the Lieutenant Governor Najeeb Jung and the Arvind Kejriwal-led government

on the issue.

Senior IAS officer Dharam Pal, who was removed as Home Secretary by the AAP government,

has been discharging his duties while AAP appointee Rajendra Kumar have also been signing

files.

17) Rahul Bhatnagar appointed as MD and CFO of Bharti Enterprises

Rahul Bhatnagar was appointed as the Managing Director (MD) and Chief Financial Officer

(CFO) of Bharti Enterprises. He will report toSunil Bharti Mittal, Chairman of Bharti Enterprises.

Bhatnagar succeeded Manoj Kohli, who has assumed the role of Executive Chairman of SBG

Cleantech, a Joint Venture between SoftBank, Bharti and Foxconn for renewable energy.

As a MD and CFO of the company, Rahul will build strategic business value proposition for

Bharti’s non-telecom businesses. He will be responsible for further strengthening the financial

management processes and governance of these businesses and will lead new business

development for the group.

18) Jodhpur Film Society honoured with Pritiman Sarkar Award 2014-15

The Film Society of Jodhpur conferred with thePritiman Sarkar Award 2014-15 for the

consequentfourth time for being the best film society in Northern Region in raising awareness

and film appreciation.

The award was presented by the Federation of Film Societies of India (North Region). The

award was given in recognition of screening of a series of films by the society in 2014-15 in

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Jodhpur to mark 100 glorious years of Indian cinema under the Incredible Journey of Indian

Cinema.

The first Pritiman Sarkar Award in 1997-98 was also given to the Film Society of Jodhpur.

19) India Central Asia Relations authored by Amiya Chandra

Book titled “India Central Asia Relations: The Economic Dimension” authored by Amiya

Chandra. It came in news during the visit of Prime Minister Narendra Modi to central Asian

countries, namely Kazakhstan, Kyrgyzstan, Uzbekistan, Tajikistan and Turkmenistan.

The book focuses on the economic dimensions of the ties. The author through the book wants

to say that India can compete with China if it focuses on quality instead of quantity and

improves credit line.

The book also says that for that purpose, India will have to seriously take forward the trade

disputes.

Amiya Chandra is the Joint Director-General of Foreign Trade in the Union Commerce and

Industry Ministry.

20) Inderjeet Singh clinches gold in World University Games

Inderjeet Singh won the country’s first ever gold in athletics at the Universiade, with a last throw

of 20.27 metres in shot put, in Gwangju, Korea.

The 27-year-old Inderjeet had won the silver at the last World University Games in Kazan,

Russia, in 2013. It was the fifth successive gold medal in international competition for Inderjeet

this year.

He had won the Asian championship and the three Asian Grand Prix meets. It was his seventh

gold medal this season, starting with the National Games in Thiruvananthapuram, Kerala.

Indian men’s 25m Rapid Fire Pistol team also bagged a bronze to swell India’s medal count to

four (one gold, one silver, two bronze) on the fifth day of competitions.

Current Affairs on 10-JULY-2015

1) Bandhan Bank announces board of directors

The newly formed Bandhan Bank announced its board of directors. It also unveiled its new logo,

designed by Ogilvy and Mather. The 10-member Bandhan Bank Board, which held its first

meeting, chaired by Ashok Kumar Lahiri, a former Chief Economic Advisor while,Chandra

Sekhar Ghosh, the founder will be the MD and CEO. Also on the Board are former CMD of the

city-based United Bank of India and two former senior officials of the Axis Bank. A Chief

General Manager of NABARD is the women director on board. The 600 branches proposed

initially nearly 70 percent would be in rural and semi urban areas.

2) India to beat China again as fastest-growing in 2016: IMF

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India will be the world’s fastest growing economy for the second consecutive year in 2016 at 7.5

percent even as it decreased its current year global economy growth forecast to 3.3 percent. In

its World Economic Outlook Update, IMF retained India’s growth forecast for current year at 7.5

percent which will be higher than China’s 6.8 percent. It forecast a growth rate of 7.5 percent for

India in 2016 and China’s 6.3 percent.

3) BRICS declaration: Selective approach to terror disapproved

India and four other members of the BRICS, there should be no “political

approaches” and “selective application” in dealing with terrorism and insisted that all countries

should adhere to their obligations of fighting against the menace, a statement that could apply

to Pakistan.

At a summit meeting in Ufa, the grouping, which includes Russia, China, Brazil and South

Africa, also condemned terrorist activities of the Islamic State of Iraq and Levant (ISIL) and

associated terrorist groups. In the declaration, China and Russia also said that they support the

aspirations of India, Brazil and South Africa for permanent membership of the UNSC.

The BRICS also adopted an “Action Plan” that maps the 2016 trajectory of the group. The

Russia-proposed “Strategy of BRICS Economic Partnership”, a blueprint for the group’s trade,

investment and commerce ties up to 2020. Among other things, it will be aimed at increasing

the competitiveness of BRICS countries in the global economy.

The five foreign ministries also signed an agreement on creating a joint BRICS website, which

will act as a virtual secretariat of the group. The Central Banks of the five countries have also

signed cooperation agreements with the New Development Bank.

4) PM Modi proposes ‘Das Kadam: Ten Steps for the Future’ for BRICS nations

Prime Minister Narendra Modi proposed a 10-point initiative that includes India hosting the first

trade fair for the grouping and establishing research centres for railways and agriculture. Calling

it ‘Das Kadam: Ten Steps for the Future’, Modi put forward new initiatives for the BRICS

grouping that is formed by major emerging economies.

Das Kadam: 10 steps for the Future: Prime Minister Shri Narendra Modi’s Proposals at

BRICS 2015

1.    BRICS Trade Fair

2.   BRICS Railway Research Centre

3.   Cooperation among Supreme Audit Institutions

4.   BRICS Digital Initiative

5.   BRICS Agriculture Research Centre

6.   BRICS State/Local Governments Forum

7.   Cooperation amongst cities in the field of Urbanisation

8.  BRICS Sports Council and Annual BRICS Sports Meet

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9.  First Major Project of NDB to be in field of Clean Energy

10.  BRICS Film Festival

5) India, US sign agreement to implement FATCA

India and United States have signed Inter Governmental Agreement to implement the Foreign

Account Tax Compliance Act (FATCA). The agreement will promote transparency on tax

matters. Revenue Secretary Shaktikanta Das and U.S. Ambassador to India Mr Richard

Verma signed the agreement in New Delhi.

The signing of agreement is a re-affirmation of the shared commitment of India and USA

towards tax transparency and the fight against offshore tax evasion and avoidance. This step

reaffirms the commitment of central government to fight the menace of black money.

6) Uttarakhand gets India’s first earthquake early warning system

Uttarakhand became first Indian state to install a system to detect earthquakes and disseminate

warnings. The first system has been installed in its capital Dehradun which will issue warnings

1-40 seconds before earthquakes of magnitude 5 or more occur. The system is designed and

manufactured by Italian firm, Space Dynamics which already has installed it in Japan, Italy and

US.

Features of earthquake early warning:- The system is incorporated with sensors which are

capable to detect P (Primary) and S (Secondary) waves generated during an earthquake. It is

capable to detect the harmless P wave, which travels faster than the S wave for advance

warning. The system has the earliest detection among those currently in use worldwide.

7) MoUs inked to address Chemical Industry’s need of Skilled Manpower

Union Ministry of Skill Development and Entrepreneurship (MSDE) and Ministry of Chemicals

and Fertilizers (MCF) signed MoUs to address the Industry’s need of Skilled Manpower. These

MoUs will enhance strategic tie between both parties to scale up skill development and

entrepreneurship initiatives in the country. It will also collectively address the incremental

human resource requirement in the Petrochemicals, Fertilizers and Pharmaceutical industry.

MSDE will implement this partnership for human resource requirement through Directorate

General of Training (DGT) and National Skill Development Corporation (NSDC).

8) ‘Operation Smile’ Traces 44 Missing Children in Uttarakhand

Operation Smile, a unique initiative of Ghaziabad Police to track missing children, was in news

in second week of July 2015. It came in news after Uttarakhand police under the operation was

able to trace atleast 44 missing children from various parts of the state within a week. In another

development, the police and the district administration of Dharmapuri, Tamil Nadu has

constituted five special teams to spearhead‘Operation Smile.’ The Operation Smile was

launched by the Ghaziabad Police in 2014 with an aim to search and restoration of missing

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children with their families. Under the operation, the police was able to recover 227 missing

children within 30 days of launch.

9) Digital India: MPEDA launches mobile-based apps

The Marine Products Export Development Authority (MPEDA), nodal agency for promotion of

marine exports from India, has launched two mobile based applications, which would help

farmers get prices on shrimp and capture data on aquaculture through mobile. The initiatives

were launched by Commerce Minister Nirmala Sitharaman.

MPEDA is providing price related market information of Vannamei and Black Tiger shrimp to

farmers. The farmers have to give a missed call to a predetermined number and they will get

the prices of various grades of these two shrimp varieties in major markets such as Japan, the

U.S. and EU through an SMS.

The agency has launched an Android-based mobile app called mKrishi, which will enable

farmers get expert guidance on all operations, besides helping with book keeping and weather

information. mKrishi is under pilot in Gujarat and will be extended all over India in the next three

months.

10) India wins more than 150 medals at World Police and Fire Games

India has won a record 156 medals, including 89 gold and 50 silvers, in the World Police and

Fire games held in the suburb of the American Capital. Topping this tally on medal haul

was Richa Mishra from Central Reserve Police Force, who won six gold and two silvers in

swimming events.

Kulwinder Kaur, an assistant sub inspector with Punjab Police bagged five gold medals in the

track and field events. The 50-member Indian delegation competed in seven categories:

athletics, wrestling, boxing, judo, archery, swimming and shooting.

Kaur, an assistant sub inspector with Punjab Police, earned 5 gold medals in the track and field

events, winning every event she competed in. CRPF’s Mishra, who was taking part in her fifth

Police & Fire Games, won an impressive 6 golds and 2 silvers in swimming events.

11) India drop 15 spots to 156th in latest FIFA rankings

India has dropped a whopping 15 places to languish at the 156th position in the latest FIFA

rankings. Copa America runners-up Argentina moved up two spots to top the list, ahead of

Germany and Belgium, while Spain fell two positions to 12th, losing their place in the top 10.

India went down in the rankings following two consecutive defeats in the2018 FIFA World Cup

qualifiers against Oman and Guam.

12) Former FIFA executive Chuck Blazer banned for life from football

In US, former FIFA executive committee memberChuck Blazer, a key figure in a US

investigation into corruption by football officials, has been banned for life from football activities

by the sport’s governing body.

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Blazer, who in 2013 secretly pleaded guilty in the US to bribery and financial offences, was

found by FIFA’s ethics committee to have breached rules on loyalty, confidentiality, duty of

disclosure, conflicts of interest, offering and accepting gifts and bribery and corruption.

13) Saudi Arabia’s longest serving Foreign Minister, Prince Saud al-Faisal dies

Saudi Arabia’s Prince Saud al-Faisal, who was theworld’s longest serving Foreign Minister, has

died aged 75. There is no official word on the cause of death. The prince had a number of

surgeries in recent years. He was the kingdom’s Foreign Minister for 40 years, before retiring in

April. Arab League chief Nabil al-Arabi said the world had lost a noble diplomat. He was widely

respected, and navigated through decades of turbulence in the Middle East.

14) Essar Oil signs pact to sell 49% stake to Russia’s Rosneft

Russian oil firm Rosneft will buy 49% stake in Essar Oil, the firm that owns India’s second

biggest oil refinery, for an undisclosed amount. The proposed transaction is conditional upon

various factors such as due diligence, determination of the transaction price, execution of

definitive transaction documents and receipt of requisite approvals.

Also, a Long Term Crude Oil Supply Agreement by the two firms in was signed in Ufa, Russia

for import of 10 million tonnes a year of crude oil for a period of 10 years. This contract has

been signed in pursuance to the Key Terms executed between the two companies in December

2014 at New Delhi.

Current Affairs on 11-JULY-2015

1) ‘World Population Day’ observed with theme Vulnerable Populations in Emergencies

World Population Day was observed on 11 July 2015 with theme Vulnerable Populations in

Emergencies.

The theme focuses on the record number of people displaced by crises – some 60 million

according to the latest UN figures.

At present, the United Nations Population Fund (UNFPA) is working around the globe to

respond to the rights and needs of women and girls, and help them to maintain their dignity by

securing their safety, and restoring their access to sexual and reproductive health care.

2) India has been accorded full accorded the full membership of the Shanghai Cooperation

Organisation (SCO) at its Ufa summit held in Russia. 

Technically, India will become the member of SCO by 2016 after completion of certain

procedures. This membership will help India to work with the 6 members grouping to enhance

connectivity, combat terror and create an environment for boosting trade by easing barriers.

SCO is a Eurasian economic, political and military organisation.

Headquarters: Beijing, China

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Established: 2001 in Shanghai by the leaders 6 countries viz. China, Kyrgyzstan, Kazakhstan,

Russia, Tajikistan, and Uzbekistan.

It is an outcome of The Shanghai Five grouping established in 1996 by Kazakhstan, China,

Kyrgyzstan, Russia and Tajikistan.

SCO’s first enlargement was in 2001 with addition of Uzbekistan and second enlargement was

in July 2015 with addition of 2 new members India and Pakistan.

3) Saud al-Faisal died

Prince Saud al-Faisal, former foreign minister of Saudi Arabia passed away in United

States. He was 75. He was the Saudi kingdom’s foreign minister for 4 decades (from 1975 to

2015). He had retired in April 2015 and was succeeded by Adel al-Jubeir. He had served under

four Saudi kings and had advanced the kingdom’s foreign policy, especially after the 9/11

attacks in US. It should be noted that he was world’s longest-serving foreign minister.

4) Five British Satellites successfully launched by ISRO

ISRO’s Polar Satellite Launch Vehicle (PSLV) C-28 has successfully put five satellites of United

Kingdom into designated orbits. They were successfully put designated into orbit after its lift off

from first launch pad of Satish Dhawan Space Centre, Sriharikotta, Andhra Pradesh. For this

mission, ISRO had used high-end XL version of PSLV as it was its biggest and heaviest

commercial launch with overall lift-off mass of all 5 satellites was 1,440 kg .

Five satellites are:

Constellation of 3 identical DMC3 Satellites: Three satellites comprised of DMC3-1, DMC3-2

and DMC3-3, all weighing around 447-kg. They are designed for simultaneous high temporal

and high spatial resolution optical Earth observation.

Application: Surveying the resources on earth, urban infrastructure management and

monitoring of disasters.

CBNT-1: It is an optical Earth Observation technology demonstration micro satellite, weighing

around 91 kg. .

De-OrbitSail: It is an experimental nano satellite. It will be used for the demonstration of large

thin membrane sail and drag deorbiting using this sail.

All of the five satellites belonged to UK’s Surrey Satellite Technology Ltd (SSTL). They were

launched as part commercial launch arrangement between SSTL and ANTRIX, the commercial

arm of ISRO.

PSLV C-28 XL

For this mission four-stage PSLV-C28 was used as launch vechile, which is high-end ‘XL’

version of PSLV.

It comprised of new designs consisting of circular launcher adaptor i.e. L-adaptor and a

triangular deck called Multiple Satellite Adapter-Version 2 (MSA-V2).

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It was specially designed by ISRO to overcome the tough task of mounting the three DMC3

satellites in launch vehicle as each was having height of about 3m.

It was PSLV’s overall 30th flight and 29th consecutive successful launch and 9th flight of PSLV

in ‘XL’ configuration.

5) ‘Chan-hom’ lashed Okinawa Island chain, Japan

Typhoon namely ‘Chan-hom’ lashed Okinawa Island chain, Japan on 10th July 2015 with

almost 234 kilometres per hour.

6) Two mobile apps launched by MPEDA

Two mobile apps launched by Marine Products Export Development Authority (MPEDA) on

09th July 2015 with the basic aim to help farmers to capture the data on agriculture. 

7)  Online electronic signature service launched

The online electronic signature service launched on 07th July 2015 namely ‘e-sign’. The service

launched by e-Mudhra Limited. Any Aadhaar card holder can sign digitally sign the document.

8) Infosys signed an agreement with Deutsche Bank

Infosys signed an agreement with Deutsche Bank called as multi million euro deal on 08th July

2015. The Headquarter of Deutsche Bank is in Frankfurt, Hesse, Germany.

9) India signed an agreement with USA

India signed an agreement with USA on cooperation to establish the PACESetter Fund on 30th

June 2015. The basic aim of this agreement is to promote off-grid clean energy. 

10) Sunita Williams among 4 astronauts chosen to fly NASA’s first commercial space vehicle

Indian-origin Sunita Williams is among four veteran astronauts chosen by National Aeronautics

and Space Administration (NASA) to fly the first commercial space vehicles.

11) Serena Williams wins sixth Wimbledon Women’s Single title

Serena Williams of United States has won Women’s Singles Wimbledon title at 2015. In the

final match played at London she defeated Garbine Muguruza of Spain by 6-4, 6-4 score. It is

her sixth Women’s Singles Wimbledon title and overall 21th Grand Slam title.

12) New butterfly species named ‘Banded Tit’ found in Arunachal Pradesh

A new tiny butterfly species christened Banded Tit (Hypolycaena Narada) has been discovered

in Arunachal Pradesh. It was discovered and is denizen of low-lying evergreen forests of the

Changlang district of the state which is part of the one of the biodiversity hotspot of World.

13) India imposes anti-dumping duty on phenol imports from South Africa

India has in imposed definitive anti-dumping duty of 342.76 dollars per tonne on all phenol

imports on imports of Phenol from South Africa. This anti-dumping duty will be valid for a period

of five years. The duty was imposed by Union Finance Ministry based on the recommendations

of the Directorate General of Anti-Dumping Duty (DGAD) under the aegis of Union Commerce

Ministry.

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Current Affairs on 12 & 13 JULY-2015

1) Nabard plans Rs 30,000 crore credit to farmers for irrigation

The state-run National Bank for Agriculture and Rural Development (Nabard) has set an target

of providing Rs 30,000 crore as credit to farmers for irrigation over the next three years, a senior

official said here today.

The agriculture and rural focused lender has already sanctioned Rs 1,000 crore so far this year,

the official said.

This funding will be in addition to the government’s recent announcement of providing Rs

50,000 crore of loans to farmers over the next five year.

2) India inducted permanent member of Shanghai Cooperation Organisation (SCO)

The Beijing-based Shanghai Cooperation Organisation (SCO) on 10 July 2015 took the

decision to induct India as a full member of the strategically-important bloc.

India, which has had an observer status for the last 10 years, will technically become a member

by next year, after the completion of requisite formalities.

The SCO currently has China, Russia, Kazakhstan, Kyrgyzstan, Uzbekistan and Tajikistan as

members.

Alongside India, the process to include Pakistan as a member was also initiated.

3) Tunisia’s ‘Non-NATO Ally’ Status Confirmed By US

Tunisia’s status as a “non-NATO ally” of the United States has been approved, the US State

Department said, paving the way for enhanced military cooperation between the countries.

Washington hailed the partnership between the United States and Tunisia after the Major Non-

NATO Ally (MNNA) status was confirmed Friday.

4) MPEDA launched mobile-based applications to help farmers capture data through mobile

The Marine Products Export Development Authority (MPEDA) on 9 July 2015 launched two

mobile based applications to help farmers get prices on shrimp and capture data on aquaculture

through mobile. Moreover, MPEDA also revamped its website and launched an online

registration portal for exporters.

These two mobile-based applications are:

Shrimp price Information over SMS by a missed call

mKRISHI- Mobile App for Aquaculture Operations

5) Rashtriya Avishkar Abhiyan (RAA) Launched by Dr. A. P. J. Abdul Kalam

Rashtriya Avishkar Abhiyan (RAA) Launched by Dr. A. P. J. Abdul Kalam

Dr. A.P.J Abdul Kalam, former President of India recently launched the Rashtriya Avishkar

Abhiyan (RAA).

About the Abhiyaan:

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Rashtriya Avishkar Abhiyan is a unique concept developed by the Ministry of Human Resource

Development that aims to inculcate a spirit of inquiry, creativity and love for Science and

Mathematics in school children.

It aims to encourage students to learn sciences beyond the classrooms. It is an effort to take

forward the Prime Minister’s vision of Digital India, ‘Make in India’ and ‘Teach in India’.

Under Rashtriya Avishkar Abhiyan, government schools will be mentored by Institutes like IITs/

IIMs/ IISERs and other Central Universities and reputed organisations through innovative

programmes, student exchanges, demonstrations, student visits, etc to develop a natural sense

of passion towards learning of Science and Maths.

6) Phenol Imports from South Africa

India has imposed definitive anti-dumping duty on phenol imports from South Africa for a period

of five years. Phenol is a basic organic chemical used in plywoods, laminates, particle boards,

pharmaceuticals and phenyl formaldehyde resins.

As per the notification on July 10, Finance Ministry has levied an anti-dumping duty of $342.76

per metric tonne on imports of phenol, originating in or exported from South Africa.

The move follows recommendation by the Directorate General of Anti-dumping and Allied

Duties, Ministry of Commerce in April this year. It was based on petition seeking anti-dumping

duty on phenol imports filed by Hindustan Organic Chemicals Ltd. and backed by SI Group

India Ltd.

7) South African Pacer Kagiso Rabada Becomes Second Bowler to Take Hat-Trick on ODI

Debut

South Africa’s 20-year-old pacer Kagiso Rabada became just the second bowler after

Bangladesh left-arm spinner Taijul Islam to bag a hat-trick on debut in the first ODI against

Bangladesh in Mirpur.

Rabada ran through the Bangladesh top-order, dismissing Tamim Iqbal, Litton Das and

Mahmudullah for ducks. First, the left-handed Tamim was bowled off a full delivery, next Litton

flicked one straight to Farhaan Behardien at mid-wicket and then Mahmudullah was trapped

plumb in front of the stumps. Bangladesh were thus, reduced to 17/3 in 4 overs.

The first match has been affected by rain. Bangladesh opted to bat after winning the toss. The

match will be a 40-over-a-side affair.

8) South African Pacer Kagiso Rabada Becomes Second Bowler to Take Hat-Trick on ODI

Debut

South Africa’s 20-year-old pacer Kagiso Rabada became just the second bowler after

Bangladesh left-arm spinner Taijul Islam to bag a hat-trick on debut in the first ODI against

Bangladesh in Mirpur.

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Rabada ran through the Bangladesh top-order, dismissing Tamim Iqbal, Litton Das and

Mahmudullah for ducks. First, the left-handed Tamim was bowled off a full delivery, next Litton

flicked one straight to Farhaan Behardien at mid-wicket and then Mahmudullah was trapped

plumb in front of the stumps. Bangladesh were thus, reduced to 17/3 in 4 overs.

The first match has been affected by rain. Bangladesh opted to bat after winning the toss. The

match will be a 40-over-a-side affair.

9) Buddha in a Traffic Jam Wins at Madrid Film Gala

Buddha in a Traffic Jam won the Best Original Screenplay in a Foreign Language Award

Vivek Agnihotri’s political satire Buddha in a Traffic Jam won the Best Original Screenplay in a

Foreign Language Award at the Madrid International Film Festival.

The film festival, which started on July 2 and ended on July 11, is an annual film jamboree

focusing on independent films.

Buddha in a Traffic Jam features actors Mahie Gill, Aanchal Dwivedi, Pallavi Joshi, Anupam

Kher, Arunoday Singh and Vivek Vaswani.

It also had two other nominations – Best Foreign Language Film and Best Lead Actress in

Foreign Language Film for Mahie.

10) Banded Tit, new butterfly species discovered in the forests of Arunachal Pradesh

The butterfly which has been named as Banded Tit was discovered in the verdant forests of the

Changlang district in Arunachal Pradesh. The state Principal Chief Conservator of Forests Dr

Yogesh has declared the discovery of the butterfly and this discovery is the best in years.

The Banded Tit is a native of the low-lying evergreen forests of Changlang and has an amazing

lifestyle. The adult butterflies stay for nearly a couple of weeks in March every year and the rest

of the year is spent in dormant condition in larval or pupal phases. They feed on bird droppings

by the side of streams in the forests.

The biology of the butterfly is still a mystery. Dr. Krushnamegh Kunte who is a research scientist

and faculty member at the National Centre for Biological Sciences in Bangalore also explained

the butterfly in the research paper. It seems that there are many more species of butterflies that

are yet to be discovered in India.

A few years ago, another new butterfly species known as the “Bright-eyed Argus” was

discovered.

11) Novak Djokovic beats Roger Federer in Wimbledon 2015 men’s singles final

Novak Djokovic claimed his third Wimbledon title with a clinical 7-6, 6-7, 6-4, 6-3 win, ensuring

that there would be no fairytale triumph for Roger Federer.

Defending champion Novak Djokovic on 12 July 2015 won men’s singles title of Wimbledon. In

the final clash played in London, Serbian Djokovic defeated Roger Federer of Switzerland 7-6,

6-7, 6-4, 6-3.

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Wimbledon was held from 29 June to 12 July 2015.

Jean-Julien Rojer (Netherlands) and Horia Tecău (Romania) pair won the 2015 men’s Doubles

Wimbledon Title. In the final match they defeated Jamie Murray (UK) and John Peers

(Australia) pair by 7–5, 6–4, 6–4 score.

Besides, Leander Paes (India) and Martina Hingis (Swiss) won the mixed doubles event of the

Championship. In the final played in London, the Indo-Swiss pair defeated Austrian-Hungarian

team of Alexander Peya and Timea Babos 6-1, 6-1. It was Paes’ eighth mixed doubles title and

second with Hingis. They had won the Australian Open early this year.

Jean-Julien Rojer (Netherlands) and Horia Tecău (Romania) pair won the 2015 men’s Doubles

Wimbledon Title. In the final match they defeated Jamie Murray (UK) and John Peers

(Australia) pair by 7–5, 6–4, 6–4 score.

12) India, Turkmenistan ink 7 pacts to enhance regional cooperation & connectivity

India and Turkmenistan have signed 7 pacts/ agreements to enhance bilateral cooperation

between the two nations.

These agreements were inked during the two-day visit of Prime Minister Narendra Modi to

Turkmenistan as part of his official visit to 5 Central Asian countries and Russia.

MoU on Supply of Chemical Products: It was signed between the India’s ‘Rashtriya

Chemicals and Fertilizers Limited’ and the Turkmenistan’s Turkmenhimiya’.

MoU Foreign Service Institutes of both nations: It was signed between Foreign Service

Institute of the Ministry of External Affairs of India and Institute of International Relations of the

Ministry of Foreign Affairs of Turkmenistan.

Agreement on Cooperation in the field of Sports: It was signed between Union Ministry of

Youth Affairs And Sports of India and State Committee for Sport of Turkmenistan.

Programme of Cooperation In Science And Technology: It was signed between both

governments for the period of two years viz. 2015-2017.

MoU on Cooperation in Yoga and Traditional Medicine: It was signed between respective

entities of both governments.

MoU on Cooperation in the Field Of Tourism: It was signed between respective entities of

both governments.

Agreement in the field of Defence: It was signed between respective entities of both

governments.

Besides signing these agreements, Prime Minister Narendra Modi and his counterpart

President of Turkmenistan Gurbanguly Berdimuhamedov held extensive discussions on

bilateral relations and issues of mutual interest at regional and international level. Both leaders

also released an Indo-Turkmen Joint Statements to increase regional cooperation and

connectivity.

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13) Martina Hingis and Sania Mirza

Martina Hingis and her partner, India’s Sania Mirza, defeated the formidable Russian pairing

of Ekaterina Makarova and Elena Vesnina.

This is Sania Mirza’s first-ever women’s doubles Grand Slam title.

Sania is winner of three mixed doubles Grand Slam trophies. She wonAustralian Open

(2009) and French Open (2012) with compatriot Mahesh Bhupathi and the US Open with Bruno

Soares last year.

Hingis won the Wimbledon doubles with Helena Sukova in 1996 and Jana Novotna in 1998.

14) China crisis: Clues point to trading firms suspected of manipulating futures trading

Chinese police probing the massive stock market crash that wiped about 3.2 trillion dollars of

capital out of the market today claimed to have found clues pointing to certain trading firms

suspected of manipulating futures trading.

After China’s key stock index plunged by over 30 per cent from its June 12 peak, the

government has stepped in with various measures to stabilise the market, including pouring in

funds and restricting futures trading on a major small-cap index.

 

Current Affairs on 14 JULY-2015

1) YES Bank gets RBI approves to open unit in GIFT city 

Private sector lender YES Bank received approval from the Reserve Bank of India to set up

IFSC Banking Units (IBUs) in Gujarat International Finance Tec City (GIFT).

Establishing the IBU will propel YES Bank’s growth plans further by providing it access to

International financial markets, as well as provide a comprehensive product suite to its

corporate clients requiring Foreign Currency (FCY) funding. It will also allow YES Bank to raise

FCY funding through MTNs & other routes as appropriate,” the mid-sized lender said in a

statement.

GIFT is attractive for private sector banks such as YES Bank that don’t have overseas branches

and hence do not have access to foreign currency to fund corporate customers abroad. In April

2015, YES Bank opened its First International Representative office in Abu Dhabi, UAE.

2) Union Government launches GAGAN, aviation navigation system

Union Government has launched GPS-Aided Geo Augmented Navigation (GAGAN) system, for

aviation navigation. It was launched by Union Civil Aviation Minister Ashok Gajapathi Raju in

New Delhi.

With this launch, India became the fourth nation in the world to have inter-operable Satellite

Based Augmentation System (SBAS) after US, Europe and Japan. It should be noted that

GAGAN is the first SBAS system in the world to serve the equatorial region.

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3) China sets up world’s largest Cancer Registry System

China has set up the world’s largest cancer registry system in a bid to fight the cancer diseases

with more-targeted and evidence-based intervention programmes.

The cancer registry system is a systematic collection of data about cancer and tumor diseases

of Chinese people.

The registry records complete summary of cancer patient history including diagnosis, treatment

and status of every cancer patient. However the registry excludes the medical costs.

This registry system seeks to cover over 300 million people of China and expand to include 40

per cent of the nation’s population of 1.36 billion by 2020.

3) Operation Talaash for missing Dornier ends

Thirty-five days after a Coast Guard aircraft on a surveillance sortie disappeared off the

Chennai coast with three crew, the search operation has been “terminated” after recovery of

human remains, parts of the plane and personal effects.

“Eighty per cent of the aircraft’s parts have been retrieved, besides human bones and wrist

watches from the sea bed,” I G Coast Guard S P Sharma said here today, adding the search

operation was “terminated” last night.

The authorities have called the families of the crew for carrying out DNA tests for identification

of the deceased and collecting the remains and personal effects.

The Coast Guard was in consultation with the Tamil Nadu Forensic and Science Laboratory to

carry out the DNA tests.

On July 11, 33 days after the Dornier aircraft vanished over the sea off Tamil Nadu coast on

June 8, its debris and the flight data recorder (FDR) were located 950 metres under water.

Reliance Industries vessel ‘Olympic Canyon’ and a submarine from National Institute Of Ocean

Technology were involved in the operation.

4) NASA’s New Horizons spacecraft gets up close and personal with Pluto

NASA on Tuesday marked the closest approach by first spacecraft to explore Pluto. NASA’s

New Horizons spacecraft got up close and personal with Pluto on Tuesday, to zoom within

12,500 km of the small icy world left unexplored until now.

It’s the final destination on NASA’s planetary tour of the solar system, which began more than a

half-century ago. Pluto was still a full-fledged planet when New Horizons rocketed away in

2006, only to become demoted to dwarf status later that year.

The 5-billion-km journey from Cape Canaveral, Florida, culminated on Tuesday at 11.49 a.m.

GMT (5.19 p.m. IST). That’s when the spacecraft flew past Pluto at 50,000 kmph.

5) BCCI suspended Mumbai Ranji player Hiken Shah for corruption

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Board of Control for Cricket in India (BCCI) on 13 July 2015 suspended Mumbai Ranji cricketer

Hiken Shah with immediate effect. BCCI suspended him after he was found guilty of breaching

BCCI’s Anti-Corruption Code for participants.

BCCI in its decision said that his involvement in any form of cricket, affiliated with the BCCI

stands suspended till the time the disciplinary committee of the BCCI passes appropriate

orders.

Hiken Shah was accused for making a corrupt approach to a fellow player from first-class

cricket, who is also a member of one of the IPL teams. The approached player immediately

informed the incident to his franchise team. 

6) IPL franchise Chennai Super Kings, Rajasthan Royals suspended for two years by Justice

Lodha panel

Justice RM Lodha-headed panel on IPL Betting Scandal 2013 on 14 July 2015 suspended

Indian Premier League (IPL) franchise Chennai Super Kings (CSK) and Rajasthan Royals (RR)

for two years. Suspension of two times IPL champion CSK and inaugural winner RR comes with

immediate effect.

CSK was suspended by the panel citing operation rules as CSK or India Cements took no

action against Meiyappan.

On the other hand, RR was suspended on account of being directly responsible for putting the

game into disrepute and Raj Kundra'a action was unacceptable.

The panel also suspended Gurunath Meiyappan and Raj Kundra from all cricket matches for life

as they were found guilty of illegal betting. They both acted contrary to the spirit of the game.

However, the panel gave no clarification on what happens to the six players who were

mentioned in the sealed envelope submitted to the Supreme Court by the Justice Mudgal panel.

Justice Lodha said that the decision will uphold the paramountcy of the game and no one is

bigger than the game.

7) Noted artist Sayed Haider Raza conferred with France’s de la Lgion dHonneur

Noted artist Sayed Haider Raza was conferred with highest French Civilian Award

Commandeur de la Lgion dHonneur (the Legion of Honour).

Raza was bestowed with this award for his peerless achievements in transcending all

boundaries, forging ties between France and India and for continuing artistic quest straddling

nations, religions, cultures and philosophies.

He was bestowed with this award on the occasion of the French National Day (14 July)

celebrations by Ambassador of France to India Franois Richier on behalf of the French

President.

8) India and Georgia signed MoU for cooperation in field of Election Management

Page 25: GA Updates

India and Georgia on 13 July 2015 signed a Memorandum of Understanding (MoU) for

cooperation in the field of election management and administration. The MoU was signed by

Chief Election Commissioner of India Nasim Zaidi and Tamar Zhvania, Chairperson, Central

Election Commission, Georgia.

Till now, Election Commission of India has signed twenty MoUs with Election Management

Bodies and international organizations across the world. 

Major purpose of the MoU between India and Georgia:

o Promotion of exchanges of knowledge and experience in electoral processes.

o Exchange of information, materials, expertise and training of personnel.

o Production and distribution of materials pertaining to electoral systems, voting technology,

voters’ education and awareness.

o Participation of women and minorities in electoral process.

9) Lt Gen Man Mohan Singh Rai appointed as new Vice-Chief of Army

Lt Gen Man Mohan Singh Rai has been appointed as new Vice-Chief of the Indian Army. He is

presently the Eastern Army Commander and will succeed Lt Gen Philip Campose who

superannuates on 31 July 2015. Rai is from the Indian Army’s Corps of Engineers.

It should be noted that Army General Dalbir Singh Suhag too was the Eastern Army

Commander before taking over the top post.

He is an alumnus of National Defence Academy (NDA), Khadakwasla, Pune and was

commissioned from the Indian Military Academy (IMA), Dehradun in 1976.

10) India’s longest road tunnel will be open in 2016

The longest road tunnel of India will be open in the next year 2016 in Udhampur, Jammu and

Kashmir as announced by Road Transport and Highways Ministry on 13th July 2015. The

tunnel called as Patnitop Tunnel.