JULY 28 and 29, 2017 COMPLETE REFERENCE TO CURRENT AFFAIRS

Sports:

  1. Italy’s Federica Pellegrini became the first swimmer  to win seven medals in a single event at the World Swimming Championship.
  2. Indian girls’team event of the WSF-World Junior Squash championship ended with a 2-1 loss to Hong Kong.

Business:

  1. Axis Bank has decided to acquire digital wallet FreeCharge from e-commerce firm snapdeal in an all cash deal worth Rs. 385 crore.

Nation

  1. Outer Wheeler Island under Chandabali teshsil in Bhadrak district named as A.P.J Abdul kalam Island, by the Odisha government as a tribute to the former President.
  2. Over 70% of the under vehicle scanners (UVS) installed at Indian Air Force bases were non-functional, CAG tabled report to parliament . The IAF in February said that out of the 57 UVS system, 52 had been installed and only five were yet to be installed. However, 35 systems still remained in “unserviceable condition”.

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JULY 27, 2017 COMPLETE REFERENCE TO CURRENT AFFAIRS

  1. Lilly King(USA) and Kylie Masse (Canada), making world records, won the 100m Breaststroke and Backstroke swimming event respectively in the ongoing World Swimming Championship at Budapest.
  2. Microsoft unveiled Kaizala, a mobile only productivity application to simplify large group communication for Indian organisations.
  3. CAC– Codex Alimentarius Commission.
  4. Bihar Chief Minister, Nitish Kumar, resigns from his post.
  5. Union Health and family Welfare Ministry recently released a policy in the Prevention and Control of haemoglobinopathies in India.
    Under this scheme people living with Thalassaemia, sickle cell anaemia and other haemoglobin disorders can look forward to better screening and treatment.

    Thalassaemia- The abnormal production of Haemoglobin, a genetic blood disorder. The abnormality leads to improper oxygen transport and deformation of RBC. The disease has no cure and patient require lifelong blood transfusion.

    Sickle Cell: A inherited haemoglobin disorder that requires lifelong management, caused by a problem in the haemoglobin beta gene found in chromosome 11

    In India, there are 1,00,00 thalassaemia majors of which 50% will not survive beyond the age of 25.

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JULY 26, 2017 COMPLETE REFERENCE TO CURRENT AFFAIRS

Sports:

  1. Katinka Hosszu, won Hungary’s first gold medal at the 2017 World swimming championship in 200m individual medley.

Business:

  1. The Centre will invest about Rs. 7 lakh crore in developing national highways in the next five years.

Nation:

  1. Insurance companies can no longer retain unclaimed amounts of policy holders if those accruals are more than 10 years old. Such sums need to be transferred to the Senior Citizens’ Welfare Fund (SCWF). As on 30, September 2017 unclaimed amounts of policy holder for a period of more than 10 year, need to be transferred to the SCWF on or before 1, March 2018.
  2. Scientist, communicator and institution builder, Dr. Yash Pal died in Noida.

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JULY 25, 2017 COMPLETE REFERENCE TO CURRENT AFFAIRS

Sports:

  1. World yuth champion Sachin Siwach beat Welsh boxer James Nathan Probert to claim the gold in the light flyweight category at the Commonwealth Youth Games.

Business:

  1. The commerce ministry is planning to impose anti-dumping duty on imports of truck and bus radial tyres with a view to guard domestic rubber players from cheap imports from China, is under process with Directorate General of Anti Dumping and Allied Duties.
  2. The International Monetary Fund’s World Economic Outlook update retained India’s projected GDP growth rate for 2017-18 at 7.2% and at 7.7% for 2018-19.
  3. Vodafone India and Idea agreed to merge operations in a $23 billlion deal, creating the country’s biggest telecom player after entry of new entrant Reliance Jio.

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PAYMENT BANKS IN INDIA-AN OVERVIEW

Reserve Bank of India grants banking licences for two kinds of banking, namely, Universal bank Licence and Differentiated Bank licence. Payment Banks comes under differentiated bank licence since it cannot offer all the services that a commercial bank offers.

A payment bank cannot lend, it cannot issue credit cards but can take deposits up to Rs. 1lakh per account.

Objective: Main objective of Payment banks is to work towards Financial inclusion by providing small saving accounts and payment/remittance services to migrant labour workforce, low income households and other unorganized sectors.

Work Allocation: Other than remittance and saving services, a payment bank can work as business correspondence  of another bank. They can also distribute simple financial products like mutual fund units and insurance products. Continue reading

JULY 24, 2017 COMPLETE REFERENCE TO CURRENT AFFAIRS

  1. Prithivi Sekhar reached the mixed doubles semifinals with Jafreen Shaik in the Deaflympics in Samsun, Turkey.
  2. India’s sharad kumar and varun bharti won silver and bronze respectively in the T-42 high jump event as the World Para-athletics championship.
  3. Swimming Federation of India– CEO- Virendra Nanavati
  4. England defeated India in the finals of ICC Women’s Cricket Worldcup 2017 by 9 runs.
  5. Iran and Iraq signed n agreement to set up military cooperation and the fight against Terrorism and Extremism.
  6. The chief of Naval Staff, Admiral Sunil Lanba, began an eight day tour of Mozambique and Tanzania with aim to explore new avenues of bilateral defence cooperation.
  7. INS Vagil, served the Indian Navy and the nation for over 36 years and could have become only the second submarine museum of the country, currently lies idle at the Chennai post.
    INS Vagil was commissioned into the India Navy at Riga in Latvia, which was part of the erstwhile Soviet Union in 1974, and was decommissioned in December 2010.
    First Submarine Museum-INS Kursura (S20) was a Kalvari-class diesel-electric submarine of the Indian Navy. After decommissioning, she was preserved as a museum for public access on Ramakrishna Mission Beach in Visakhapatnam

JULY 22, 2017 COMPLETE REFERENCE TO CURRENT AFFAIRS

  1. India’s National Trade Facilitation Action Plan (NTFAP) has been described  as a Best Practice by World Customs Organization.  51 of the 76 activities mentioned in NTFAP went beyond the implementation requirement of the World Trade Organizations’s Trade Facilitation Agreement (TFA).
    The NTFAP, to be implemented between 2017 and 2020, is a part of India’s  efforts to improve its ease of doing business ranking , which is 130 in world bank’s Doing Business report.
    India ranks 144 out of 190 countries in the Trading Across Borders category.
    TFA- Meant to ease custom norms for faster flow of goods across borders, came into effect in February 2017.
  2. The U.K Government appointed Baroness Brinda Majorie as the first women president of the Supreme Court.
  3. United States confirmed plans to ban its nationals from travelling to North Korea, in wake of the death of American student Otto Warmbier during a tourist visit.
  4. Finance Ministry clarified that AADHAR is not required for transaction above Rs. 50,000, however, the provision of PAN is mandatory in such transactions.
  5. WWR– War Wastage Reserve.