August 2013 Current Affairs List

 
1 August
Current Affairs India - 1 August 2013
1. Sujatha Singh is India-s new foreign secretary and she assumed charge today. The 1976 batch Indian Foreign Service officer will have a fixed tenure of two years. She succeeds Ranjan Mathai who retired on 31st July. She is the third woman to head the Foreign services after Chokila Iyer and Nirupama Rao.
2. Rajeev Rishi has assumed charge as the new Chairman and Managing Director of Central Bank of India today and will remain in service for a period of five years. Rishi served as an Executive Director at Indian Bank since October 1, 2010. He replaced MV Tanksale who retired on July 31.
 
2 August
Current Affairs Global - 2 August 2013
1. Russia has granted one year Asylum to Edward J. Snowden, the National Security Agency leaker of UDA. Snowden, who was staying at the Moscow-s Sheremetyevo Airport for more than a month has shifted to an undisclosed location. Edward Joseph Snowden is an American resident, who leaked several details of the mass surveillance programme of US and British Government in June this year.
Current Affairs India - 2 August 2013
1. The Union Cabinet has approved introduction of a Bill in the coming session of the Parliament to amend the Right to Information Act, 2005, to exclude the political parties from the definition of Public authority for the purpose of the Act. This move will nullify the directive of the Central Information Commission (CIC) to bring them under the transparency law. The Cabinet decision came nearly two months after the Central Information Commission's order of bringing six national political parties--Congress, BJP, NCP, CPI-M, CPI and BSP--under the RTI Act.
2. The executive committee of the Indian Newspaper Society (INS) has approved a proposal to increase Foreign Direct Investment (FDI) from current 26% to 49% in print media. The INS will recommend of 49% FDI in print through the Foreign Investment Promotion Board (FIPB) route to the Information and Broadcasting Ministry. The government will now need the nod of the Press Council of India to give its go-ahead.
3. The Cabinet has cleared the proposal for sale of 10% government stake in Indian Oil Corporation(IOC), which may fetch around Rs 3,695 crore to the Indian Government at the current market price. The IOC stock price closed at Rs 192.90, down 1.46% on the BSE following the news. Currently Government holds 78.92% stake in IOC and after the divestment the stake would come down to 68.92%.
4. The Government has formally announced the appointment of noted theatre person, Waman Kendre, as the new Director of National School of Drama yesterday. His appointment is for a period of five years w.e.f. the date of assumption of charge of the post. He replaced the outgoing Director of NSD, Anuradha Kapur-s term had ended in July 2012.
5. India, the Netherlands, Argentina and England are the four semi-finalists in the Women's Hockey Junior World Cup held in Monchengladbach, Germany. Today's semi-finals will see the Netherlands taking on India (8.30 pm) and Argentina facing England (6 pm) this evening.  Earlier, India celebrated a 4-2 win over Spain to reach the semi-finals for the first time in Women's Junior World Cup history. This was India's best performance so far in this tournament, the previous best being ninth in 2001 and 2009.
 
3 August
 
4 August
Current Affairs Global - 4 August 2013
1. Hassan Rouhani, who won the recent elections in Iran, took oath as Iran's seventh President at a ceremony yesterday. Rouhani was officially endorsed by the supreme leader Ayatollah Ali Khamenei Khamenei yesterday for a four-year term.
2. Ruta Meilutyte of Lithiania became the first swimmer to break a world record at the 15th FINA World Championships as she won the 100 metres in 1 minute and 4.35 seconds. The 15th FINA World Championships are currently held in Barcelona, Catalonia, Spain.
Current Affairs India - 4 August 2013
1. Arundhati Bhattacharya has been appointed the managing director and chief financial officer of the State Bank of India (SBI). She is the first woman managing director at SBI. Arundhati succeeded Diwakar Gupta who retired a couple of days ago.
2. The Government approved 100% foreign direct investment (FDI) in the telecom sector from existing FDI limit of 74%. After this move foreign companies operating in India like Vodafone and Telenor can have complete ownership of the business.
3. After remaining in an elite group of countries with market capitalizations of above a trillion dollar for a little over four years, India lost that tag as the rupee closed at an all-time low level of 61.10 to a dollar and the stock markets fell for the eighth consecutive session on last Friday. On Friday, BSEs market capitalization fell to USD 998 billion.
4. Veteran music director V Dakshinamoorthy passed away at his residence in Mylapore on Friday evening in CHennai. He was 94. Endearingly called as Swamy by the film fraternity and his fans, Dakshinamoorthy has given music to hundreds of film songs in Malayalam, Tamil and Hindi over the last seven decades.
5. Indian Left-arm spinner Ravindra Jadeja has become the first Indian bowler to top the bowlers' chart in the latest ICC ODI Player Rankings after former captain Anil Kumble claimed the iconic position way back in 1996. Jadeja, who took five wickets in five matches during India's recently-concluded ODI tour of Zimbabwe, has jumped four places to join West Indies' off-spinner Sunil Narine on top of the list.
6. Indian girls created history by winning country's first ever bronze medal in the junior women hockey World Cup as they defeated England on 3-2 penalties on Sunday. The two teams had ended 1-1 after regulation time.
Forex Reserves increased by USD 960.2 million to 280.162 billion
India-s Forex reserves were increased by USD 960.2 million to 280.162 billion for the week ended 26th July as per the recent weekly data released by RBI.
This increase was mainly due to increase in the reserve portion in the Foreign Currency Assets.  The Foreign Currency Assets (FCA) was increased by USD 914.1 million to 252.05 billion for the same week. The SDRs (Special Drawing Rights) and Reserve portion with IMF were also increased by USD 30.8 million and USD 15.3 million respectively for the same week. Gold values were remained unchanged at USD 21.555 billion for the same reporting week.
 
5 August
Current Affairs Global - 5 August 2013
1. Samantha Power has been appointed as the US ambassador to United Nations and she took oath for the same. She succeeded Susan Rice, now the President Barack Obama-s National Security Adviser. Earlier, Samantha Power served as the Foreign Policy Adviser to Obama during his 2008 election campaign, and also worked as an adviser in the White House.
2. Zimbabwe Electoral Commission has declared that Zanu-PF party won the Parliamentary Election. It secured 158 seats compared to 49 seats won by MDC. ZANU-PF (Zimbabwe African National Union-Patriotic Front), the political party of the incumbent President Robert Mugabe won the Presidential election of Zimbabwe, held last week. Mugabe won 61% of the vote compared to 34% won by the leader of the Movement for Democratic Change (MDC) party, Morgan Tsvangirai, the Prime Minister of Zimbabwe.
6 August
Current Affairs Global - 6 August 2013
1. Organ Donation Day is observed today (6th August). This is the 6th Organ Donation Day. Various programs, activities and events are being organized throughout India to spread awareness among people about the importance of donation of organ. In comparison to western countries, only 0.01% Indians pledge to donate their organ with respect to around 70-80% in Europe and USA.
2. Japan unveiled its biggest warship since World War II, -Izumo- amid tensions with China following maritime disputes between the two nations over disputed islands. The ship is nearly 250 meters (820 feet) long, is designed to carry up to 14 helicopters.
Current Affairs India - 6 August 2013
1. Chief Economic Advisor Raghuram G Rajan has been appointed as the next governor of the Reserve Bank of India (RBI) for next 3 years. Rajan will replace D Subbarao, who completes his five-year term on September 4, and will be the 23rd governor of the central bank. Last year, Rajan was appointed as the Chief Economic Advisor to the Government of India. He has formerly worked as the chief economist at the International Monetary Fund.
2. CLSA has lowered India-s growth forecast for the current fiscal year 2013-14 to 5.2% from earlier forecast of 5.5%. It has also said growth in FY15 is likely to be better than in the current fiscal year.
3. Telecommunication major Vodafone India in association with ICICI bank has started a unique money transfer and payment service -M-Pesa- in Bihar and Jharkhand where banking network and financial penetration is inadequate, particularly, in rural areas.
4. Sameer Suneja, former India head of Perfetti Van Melle, is all set to become the global CEO of the 2,245-million Italian sugar confectionery maker. With this, he will become the first non-Italian to head the privately held firm. He will take over his new role on 1st October,becoming the third Indian to head a global consumer company after PepsiCo's Indra Nooyi and Reckitt Benckiser's Rakesh Kapoor.
Amazon's Jeff Bezos acquires Washington post for USD 250 million
Jeffrey P Bezos, the founder and Chief Executive Officer of Amazon agreed to acquire the newspaper assets of the Washington Post Company for USD 250 million. The Washington Post has been owned by the Graham family for 80 years. Donald E. Graham, third generation of the Graham family, is the current Chairman and Chief Executive of the newspaper company.
The USD 250 million deal includes all of the publishing businesses owned by The Washington Post Co., including the Express newspaper, The Gazette Newspapers, Southern Maryland Newspapers, Fairfax County Times, El Tiempo Latino and Greater Washington Publishing.
The main reason behind this deal was drop in circulation. The Post's daily circulation peaked in 1993 with 832,332 average daily subscribers, but now the circulation dropped to only 474,767 in March this year.
7 August
 
8 August
 
9 August
Current Affairs India - 9 August 2013
1. Parliament has approved the new Companies Bill yesterday that will make sweeping changes in the way firms operate and are regulated and replace a nearly six-decade-old legislation. The new law would require companies that meet certain set of criteria, to spend at least two percent of their average profits in the last three years towards Corporate Social Responsibility (CSR) activities.
2. Rakesh Sethi has taken charge as the Executive Director of the Union Bank of India. Before that he was the General Manager with Bank of India and headed the National Banking position in Southern India.
3. Rising shuttler P V Sindhu on has created history yesterday by becoming the first Indian woman singles player to ensure a medal at the World Badminton Championships at Guangzhou, China. Sindhu defeated local favourite Shixian Wang by 21-18, 21-17 to enter the semifinals.
At the same time, Saina Nehwal and Parupalli Kashyap both bowed out in the quarterfinal. A podium finish remained elusive for Saina Nehwal as she suffered a straight-game defeat.
4. Indian wrestler Virender Singh did the nation proud as he won a gold medal in the men-s 74 kg freestyle event at the Deaflympics in Bulgaria today. The Delhi-based deaf and mute Indian defeated Oguz Donder of Turkey to win the coveted medal.
 
10 August
 
11 August
Forex Reserves decreased by USD 2.995 billion to 277.167 billion
India-s Forex reserves were decreased by USD 2.995 billion to 277.167 billion for the week ended 2nd August as per the recent weekly data released by RBI. Total forex reserves dropped by USD 14.8 billiom compared to end-march data.
This decrease was mainly due to decrease in the reserve portion in the Foreign Currency Assets.  The Foreign Currency Assets (FCA) was decreased by USD 2.155 billion to 249.895 billion for the same week. The SDRs (Special Drawing Rights) and Reserve portion with IMF were also decreased by USD 21.4 million and USD 10.7 million respectively for the same week. Gold values were also decreased by USD 808 million to USD 20.747 billion for the same reporting week.
Current Affairs India - 11 August 2013
1. Nuclear Reactor of India-s indigenous nuclear-powered submarine, INS Arihant went critical on yesterday, helping India to step towards completing its nuclear triad. With this success, India became a member of the list countries that have built their own nuclear powered submarines along with Russia, US, UK, China and France.  INS Arihant has been undergoing trials at Navy's key submarine base in Vishakhapatnam and would be launched for sea trials soon after its nuclear reactor has gone critical.
2. Famous scientist Vinod Prakash Sharma won the Gujar Mal Modi Award for Science and Technology 2013 for his contribution in the field of basic and applied research of Malaria and Vector Biology.  He was presented with a scroll of honour, a silver shield and a cash prize of 2.01 lakh rupees.
3. India-s rising shuttler P V Sindhu settled for a bronze medal at the World Championships after suffering a straight-game defeat against world number three Ratchanok Inthanon in the semifinals yesterday.
4. India-s Sudhakar Jayant has won gold medal at the IWF World Masters weightlifting championships, held in Turin, Italy. He lifted a total of 192kg in 62kg weight category to win Gold. He had also won gold last year at the championship held in Ukraine.
 
12 August
 
13 August
Current Affairs Global - 13 August 2013
1. International Youth Day was observed yesterday (12th August) across the world. The theme of 2013 is -Youth Migration: Moving Development Forward-. International Youth Day (IYD) is the brainchild of the United Nations, and was first celebrated on 12th August 2000, after the UN General Assembly passed a resolution accepting the recommendation made by the World Conference of Ministers Responsible for Youth in Lisbon in 1998. The UN uses celebrations like these to draw public awareness to problems surrounding a particular global demographic and, IYD focuses on the youth, their issues and their contributions.
2. Ibrahim Boubacar Keita won Mali's Presidential elections yesterday by defeating his opponent Soumalia Cisse. Keita had been expected to win easily, having pulled nearly 40 percent of the vote in the first round. He was Mali-s Prime Minister from 1994 to 2000 and President of the National Assembly of Mali from 2002 to 2007.
3. Tech giant Apple won a key patent case against Samsung in the US International Trade Commission (US ITC). The commission identified that Samsung has infringed the patents of apple in production of its mobile phones, tablets and media players.  The issued ban will remain on hold, and await the decision of President Barack Obama's decision, who will review the decision before the ban is put on the products of Samsung. The President has 60 days to assess the US ITC's findings.
4. Jamaican sprint star Usain Bolt reclaimed his world 100m title in emphatic style on Sunday. He clocked a season's best 9.77 seconds while American Justin Gatlin claimed silver in 9.85 sec and Jamaica-s Nesta Carter won bronze in 9.95 seconds at the Luzhniki Stadium. Bolt is undoubtedly the greatest sprinter of our recent times.
Current Affairs India - 13 August 2013
1. Janata Party, led by Subramanian Swamy, was merged with the Bharatiya Janata Party (BJP) last weekend following a meeting of Janata Party President Subramanian Swamy and BJP President Rajnath Singh. Subramanian Swamy had served as member of the Planning Commission of India. He was also former Cabinet Minister at the Centre and has been a five-time MP.
2. India launched its first indigenous aircraft carrier INS Vikrant yesterday, joining the elite club of nations with the capability of designing and building a warship of this size and capability. Defence Minister A K Antony's wife Elizabeth launched the 37,500-tonne carrier at Kochi shipyard almost four-and-a-half years after its keel was laid by the minister.
3. Indian Government hiked import dutyon refined gold bars for a third time in eight months to 10% from the earlier 8% in order to reduce current account deficit. The government also raised the import duty on silver to 10% from the earlier 6%, and the factory gate duty on gold bars to 9% from 7%.
4. Domestic passenger car sales declined by 7.4% to 1,31,163 units in July this year compared to 1,41,646 units in the same month of 2012.  Motorcycle sales too declined by 1.52% to 8,09,312 units in the last month compared 8,21,821 units in the same month previous year, as per the data released by the Society of Indian Automobile Manufacturers (SIAM).
5. India-s Trap shooter Ronjan Sodhi, the first Indian to win two back-to-back World Cup gold medals, has been recommended for the prestigious Rajiv Gandhi Khel Ratna. Cricketer Virat Kohli, golfer Gaganjeet Bhullar and Badminton Player P V Sindhu were among the 14 sportspersons picked for the Arjuna award by the selection committee.
6. Sagarika Ghosh won the Cadet Girls singles title while Birdie Boro had to be satisfied with a silver in the Cadet Boys singles at the Guatemala Junior and Cadet Open Table Tennis championships. Sagarika defeated Sreeja 11-6, 11-5, 11-8 to take gold in the final. Birdie Boro lost 9-11, 8-11, 5-11 to Cuban Livan Martinez in the final of the boys- singles event.
India-s Exports jumped by 11.64% in July; trade deficit drops significantly
Total exports jumped by 11.64% in July compared to same month last year to USD 25.83 billion. At the same time, total imports dropped by 6.2% in July compared to same month last year to USD 38.1 billion. A sharp decline in gold & silver imports to USD 2.97 billion in July 2013 compared to USD 4.47 billion of imports in the same month last year.
Trade deficit dropped to USD 12.27 billion which still puts pressure on current account deficit and Indian Rupee. Lower trade deficit brings some relief to policy makers struggling with high current account deficit.
Cumulative exports during April-July for financial year 2013-14 increased by 1.72% to USD 98.29 billion and cumulative imports during the period were increased by 2.82% to USD 160.73 billion. The trade deficit for April-June of financial year 2013-14 was at USD 62.44 billion which was slightly higher than the trade deficit of USD 59.69 billion in the same period last year.
India-s retail inflation drops marginally to 9.64% in July
India-s Retail inflation, measured by Consumer Price Index, dropped marginally to 9.64% in July compared to 9.87% in June due to lower food price increase. The food inflation in July softened to 11.24% compared to 11.84% in the previous month. In July, Retail inflation in rural areas dropped to 9.14% compared to 9.63% in June and urban areas jumped to 10.26% compared to 10.13% in June.
Prices of cereal, pulses and fruits dropped to 16.03%, 5.55%, 6.81% in July compared to 17.59%, 8.82% and 7.49% respectively in the previous month. Prices of milk and milk products, protein items and vegetables increased by 8.14%, 13.82% and 16.40% in July compared to 7.96%, 12.69% and 14.55% respectively in June.
India-s IIP contracted by 2.2% in June
India-s Index of Industrial Production (IIP), the most important indicator to judge the performance of industrial sector, contracted by 2.2 % in June compared to 1.6% contraction in the previous month of May. This is the lowest IIP data in last 12 months. IIP growth stood at (-2)% in same month last year.
The manufacturing sector, which constitutes over 75% of the overall index, contracted by 2.2% in June compared to 2% contraction in the previous month. This is the main reason behind overall IIP contraction. This data confirms prolonged slowdown and add woes to RBI and Government.
 
14 August
 
15 August
 
16 August
Current Affairs India - 16 August 2013
1. A major fire broke out on board of Indian submarine INS Sindhurakshak at the Naval Dockyard in Mumbai this week. All the 14 navy sailors including 3 officers on-board are feared to be dead in the tragedy. INS Sindhurakshak is the ninth of the ten Sindhughosh-class diesel-electric submarines of the Indian Navy.
2. India has signed a loan agreement with the World Bank worth of USD 100 million for its Low Income Housing Finance Project. The objective of the project is to provide access to sustainable housing finance for low income households to purchase, build or upgrade their houses.
3. The Asian Development Bank (ADB) and the Centre signed an agreement for USD 300 million additional loan to upgrade 254 Kms of deteriorated highways in northern and southern Bihar. This additional money will help to widen sections of four highways to two lanes, build and maintain bridges and strengthen pavements. At the same time, to offset carbon emissions, the project will plant 10 trees for every individual tree cut for road widening and Solar panels will be used at construction sites to reduce carbon emissions.
4. The rupee dropped to a historic low of 62 rupees per dollar today on strong demand for the US Dollar from banks and importers in view of sharp fall in equity market. The rupee resumed slightly higher at 61.35 rupees per dollar as against the last closing level of 61.43 rupees. As per analysts, Indian Rupee is expected to touch 65 per US Dollar in coming days.
5. The first season of the Indian Badminton League (IBL) kicked off on 14th August in New Delhi. The IBL is the franchise league for Badminton same IPL for Cricket which was proposed by Badminton Association of India (BAI). The tournament will go on till 31st August and it will include famous Indian as well as foreign players. The six teams participating at the inaugural IBL are Krrish Delhi Smashers, Pune Pistons, Banga Beats (Bangalore), Awadhe Warriors (Lucknow), Hyderabad Hotshots and Mumbai Masters. Each franchise will consist of 11 players- 4 foreign, 6 Indians and 1 junior Indian.
India-s headline inflation jumped to five-month high at 5.79% in July
India-s headline inflation, measured by the wholesale price index (WPI) jumped to 5-month high at 5.79% in July compared to 4.86% in the previous month. Headline Inflation for May was revised down to 4.58% from 4.7% estimated initially. The main reason behind high inflation data was steep Rupee depreciation and rise in vegetable prices.
Food inflation climbed into double digits again after four months. It increased to 11.91% in July from 9.74% in June. Fuel inflation jumped to 11.31% in July from 7.12% in June due to continuous increase in fuel prices. High food inflation will further worsen India-s macro-economic condition and stop RBI to cut rates further.
 
17 August
Euro zone economic growth stood at 0.3% in second quarter; exits its longest recession so far
Stronger growth in the euro zone's two largest economies, Germany and France, helped the euro zone to come out from its longest recession in the history in the second quarter (April-June) of the current year. GDP growth for the entire euro zone stood at 0.3% in the second quarter, as per the data published by the Eurostat. This data increases optimism about the entire zone and the worst may be over very soon.
Spain's economy contracted by 0.1% while economics of Italy and the Netherlands both dropped by 0.2% in the same quarter. Portugal economy posted 1.1% growth which along with Germany and France helped euro zone to achieve positive growth.
 
18 August
Current Affairs Global - 18 August 2013
1. Yahoo Inc has appointed veteran technology executive and Silicon Valley investor Maynard Webb as its new chairman. He replaced Fred Amoroso. Webb, who has served as interim chairman since April and is a former eBay chief operating officer, has been a director at Yahoo since February 2012.
2. Usain Bolt won his third gold medal of the 14th IAAF World Championships today when he led Jamaica to the gold in the 4 x100 metres relay. Before that, he won gold medal in both 100 meters and 200 meters in the same event. With this he won total 8 gold medals in world athletics event to touch the earlier world record created by retired American duo Carl Lewis and Michael Johnson.
 
Current Affairs India - 18 August 2013
1. For the first time, the Election Commission or EC would be using the paper trail system along with the Electronic Voting Machines in the Nagaland by-election scheduled to be held on September 4. The system, called the Voter Verifiable Paper Audit Trail system (VVPAT), will accompany the Electronic Voting Machines (EVM).
2. Senior IPS officer Dilip Trivedi (1978-batch IPS officer of Uttar Pradesh cadre) has been appointed the Director General of CRPF (Central Reserve Police Force). He succeeded Pranay Sahay who retired on 31st July this year. CRPF is India-s largest paramilitary force.
3. One of India's most wanted terrorist, Syed Abdul Karim alias Tunda, accused of masterminding over 40 bombings in the country, has been arrested by Delhi police from the Indo-Nepal border after he was apparently deported from one of the Gulf countries. Indian Police has been searching for him since 1993 Mumbai Blast case for his alleged involvement in the same.
4. Desh Prem Azad, former coach of cricketer Kapil Dev, passed away on 16th August due to cardiac arrest in Mohali, near Chandigarh. He was 75. He trained cricketers such as Kapil Dev, Ashok Malhotra, Chetan Sharma and Yograj Singh and he also won the Dronacharya award - the highest national honour for a coach.
5. India's Satywart Kadian has won a bronze medal in the 96-kg freestyle category at the World Junior Wrestling Championships in Sofia, Bulgaria. Satyawart produced a clinical display of freestyle combat to get the better of Turkey's Ali Bonceoglu to open India's account at the championships.
Forex Reserves increased by USD 1.434 billion to 278.601 billion
India-s Forex reserves were increased by USD 1.434 billion to 278.601 billion for the week ended 9th August as per the recent weekly data released by RBI.
This increase was mainly due to increase in the reserve portion in the Foreign Currency Assets.  The Foreign Currency Assets (FCA) was increased by USD 1.453 billion to 251.349 billion for the same week. The SDRs (Special Drawing Rights) was also increased by USD 45.4 million however Reserve portion with IMF was decreased by USD 64.7 million respectively for the same week. Gold values were remained unchanged at USD 20.747 billion for the same reporting week.
 
19 August
 
20 August
Current Affairs Global - 20 August 2013
1. World Humanitarian Day was observed yesterday (19th August) across the world. This day is observed every year to recognize those people who have lost their lives working for humanitarian causes. The theme for 2013 is - -The World Needs More-.
2. Former Pakistani military ruler Pervez Musharraf has been indicted by an anti-terrorism court in the 2007 assassination of ex-premier Benazir Bhutto. Musharraf, who has been under house arrest for last four months, was charged with murder, conspiracy to commit murder and facilitation of murder. If convicted, Musharraf can be sentenced to death or life imprisonment.
3. Famous golfer Tiger Woods secured first rank with the annual income of USD 78.1 million in the recent Forbes list of highest-paid athletes. He was followed by tennis player Roger Federer with the earnings of USD 71.5 million and basketball player Kobe Bryant with the earning of USD 61.9 million.
In female athletes- category, Russian tennis player Maria Sharapova topped the list with annual income of USD 29 million. She was followed by tennis players Serena Williams with the earnings of USD 20.5 million and Li Na with the earning of USD 18.2 million.
4. New Zealand cricketer Jesse Ryder has been banned for six months after failed doping test. He tested positive for outlawed substances contained in a weight-loss supplement. The ban was backdated to April, meaning Ryder will be available to play again in October. As per New Zealand Sports Tribunal, Ryder's sample showed traces of the stimulants PBA and DEBEA and the batsman admitted he took two supplement tablets.
Current Affairs India - 20 August 2013
1. Rajiv Gandhi Sadbhavana Divas is being observed today (20th August) on his 69th birth anniversary. On the occasion, Rajiv Gandhi Sadbhavna Award will be presented to Sarod Player Ustad Amjad Ali Khan.
2. Congress President Sonia Gandhi has launched the ambitious Food security programme in Delhi today on the birth anniversary of Rajiv Gandhi even though the bill is stuck in the Parliament for the required approval. The scheme was rolled out in three Congress-ruled states of Delhi, Haryana and Uttarakhand even as the consideration of the Bill was scuttled in Parliament by the Opposition, which cornered the government on the issue of missing files related to the coal block allocation.
3. The Indian space agency ISRO called off the launch of its heavy rocket geosynchronous satellite launch vehicle (GSLV-D5) yesterday due to leak in the second-stage engine.
4. Shri Ratan Thiyam has been appointed as the Chairperson of the NationalSchool of Drama Society. The President of India has appointed Shri Thiyam for a period of 4 years. Also known as Thiyam Nemai, Ratan Thiyam is known for writing and staging plays that use ancient Indian theater traditions and forms in a contemporary context.
5. Professor of economics, conservationist and mountaineer Harshwanti Bisht was selected for the Sir Edmund Hillary Mountain Legacy Medal last week.
6. The Reserve Bank of India notified the hike in the investment ceiling for foreign direct investment (FDI) in Asset Reconstruction Companies (ARCs) from existing 49% to 74% to attract more FDI. In a bid to attract foreign institutional investor participation in ARCs, the RBI notified that foreign investment limit of 74% in ARC would be a combined limit of FDI and FII.
7. Indian Rupee continues to slide today as well after yesterday-s steep depreciation. Indian Rupee breached 64-mark against dollar by falling 98 paise to record low of 64.11 during today-s trade. At the same time, the rupee hit a fresh low Rs 100 level against British pound (GBP). Continuous Rupee depreciation led to sell off in the stock market as FII continues to pull put money from stock market.
8. Indian Cricket Team Captain, Mahendra Singh Dhoni, was ranked at the 16th position in the recent Forbes list of highest-paid athletes. Dhoni-s earning stood at USD 31.5 million. The values were calculated between June 2012 and June 2013. In the list, he was placed above Rafael Nadal, Usain Bolt and Fernando Alonso etc.
9. Kush Kumar won the first gold for India after defeating Mohammad Syafiq Mohd. Kamal of Malaysia by 11-9, 5-11, 11-9, 11-7 in the boys- squash final in the second Asian Youth Games at the Nanjing Olympic Sports Centre yesterday.
 
21 August
Current Affairs Global - 21 August 2013
1. Pumzile Mlambo-Ngcuka, of South Africa, took over as the new head of the the UN Entity for Gender Equality and Empowerment of Women (UN Women) which works to promote women-s rights and their full participation in global affairs. She Succeeded Michelle Bachelet who stepped down earlier this year.
Current Affairs India - 21 August 2013
1. Filing of RTI applications has become online in all Central government ministries and departments through a web portal. The address is www.rtionline.gov.in . Minister of State for Personnel V Narayanasamy launched this facility in New Delhi.
2. The Indian Air Force (IAF) has landed its C-130J Super Hercules Transport Plane at the recently-activated airstrip of Daulat Beg Oldie Sector in Ladakh. The Daulat Beg Oldie (DBO) airstrip is located at 16614 feet in Ladakh which is also the World-s highest airstrip. Landing of the C-130J Super Hercules Transport Plane will help Indian Air Force to improve communication network at the area and move crew and supplies at much faster speed.
3. The Reserve Bank of India (RBI) has announced that it would buy long-term government bonds worth of Rs 8000 crore to pump more liquidity into the India-s banking system. At the same time, RBI has also relaxed the Statutory Liquidity Ratio, SLR to provide more liquidity in the financial system. The yield on 10-year government bond hit 9.48% yesterday which is the highest level since 2001, leading to sharp drop in Bank share prices.
4. Global Credit Rating agency Standard & Poor-s maintains its negative outlook on India-s BBB- sovereign credit rating. Recent measures taken to restrict capital outflows have increased uncertainty among foreign and domestic investors. As per S&P, India can face credit rating downgrade if the macro-economic condition worsens further.
5. South Korean handset maker Samsung Electronics crossed Nokia as India's largest mobile phone maker in the last fiscal year by achieving 31.5% market share compared with 27.2% for Nokia.  Samsung achieved 43.6% growth in mobile sales for last financial year which is much higher compared to Nokia and helped Samsung to be the number 1 mobile phone maker of India.
6. Virat Kohli is the highest-ranked Indian batsman in the ICC T20 rankings published today. He retained 6th rank in the list while there is no Indian presence in the top-10 of the bowlers' list in the latest ICC Twenty20 Rankings. Brendon McCullum secured 1st rank followed by Alex Hales and Shane Watson. Indian Off-spinner R Ashwin is the highest-ranked Indian bowler at 16th in the chart.
 
22 August
Current Affairs Global - 22 August 2013
1. Nearly 1500 people including women and children were killed in the toxic gas attack in Damascus, the capital of Syria. This was one of the deadliest chemical attack in the civil war of Syria. Toxic gas was fired from the rockets. The UN and American government have announced that they are working to gather more information about the use of chemical weapons by the Syrian government against the civilians.
2. The President of Zimbabwe Robert Mugabe was sworn in for 7th term as Head of State. The ceremony had been delayed by a court petition filed by his main rival, Morgan Tsvangirai, over allegations of widespread electoral fraud. But the Constitutional Court dismissed the case, declaring Mr Mugabe's re-election free, fair and credible. His party Zanu-PF (Zimbabwe African National Union-Patriotic Front) party won the Presidential election (Parliamentary Election) by winning 61% votes earlier this month.
Current Affairs India - 22 August 2013
1. The State Government of Maharashtra has adopted an Anti-Black Magic and Superstition Ordinance following death of anti-superstition activist Dr Narendra Dabholkar. The state cabinet adopted the ordinance which was also signed by the Prithviraj Chavan, the Chief Minister of Maharashtra and forwarded to the Governor K Sankaranarayanan, for further approval. The Bill would be passed in the next session of the state Legislature.
2. Nishi Vasudeva has been selected to head Hindustan Petroleum Corp Ltd (HPCL). With this she becomes the first woman ever to head a Navranta PSU. Nishi Vasudeva, 57, is currently Director (Marketing) in HPCL and will take over as the Chairman and Managing Director of the company when incumbent Subir Roy Choudhury retires on 28th February next year.
3. Global credit rating agency, Fitch Ratings maintained its stable outlook for India's BBB- rating, gives much awaited respite to the Indian Government amid fear of a credit rating downgrade. As per Fitch, "The rating already incorporates both a recognition of vulnerabilities and some tolerance for volatility in market conditions-. The main reasons behind this stable outlook are Sizeable foreign-exchange reserves, adjusted economic policies and Structural reforms steps taken by the government.
 
23 August
Current Affairs Global - 23 August 2013
1. Foreign Direct Investment to China jumped to USD 9.41 billion in July which is 24.13% year on year increase compared to same month last year. For the first seven months of the current year, China-s FDI jumped by 7% to USD 71.39 billion. At the same time, China-s Outbound Direct Investment (ODI) crossed USD 50 billion mark in the first six months. In spite of lower growth, China continues to attract strong FDI due to high investors- confidence in Chinese growth story while India is struggling with high Current Account Deficit and record Rupee depreciation.
2. Germany-s Gross domestic product (GDP) expanded by 0.7% sequentially in the second quarter of current year due to strong pickup in consumption and investment. GDP had stagnated in the first quarter after contracting by 0.5 per cent in the last quarter of 2012. Also Germany posted a budget surplus during the first half of the year which increases optimism about its financial health.
Current Affairs India - 23 August 2013
1. Lok Sabha Speaker Meira Kumar has suspended 12 members from Andhra Pradesh today for at least five sittings who have been agitating against decision to form Telangana and paralysing the House since the current session began on August 5. 8 MPs from Congress and 4 MPs from TDP were suspended today under rule Rule 374(A) of Rules of Procedure of the Lok Sabha. As per the rule, a member after being named by the Speaker stands "automatically suspended from the service of the House for five consecutive sittings or the remainder of the session, whichever is less".
2. The government today announced that a national e-mail policy to protect privacy of email users in the country will be released soon. India-s Communication and Information Technology Minister Kapil Sibal informed in the Rajya Sabha today that in the proposed policy all government departments and Indian embassies are being asked to use NIC server for their email correspondence. He said NIC server is located in our country and it cannot be accessed by any foreign agency.
3. After nearly three months following resignation as Union Law minister after CBI inquiry related controversy, Ashwani Kumar has been appointed by Prime Minister Manmohan Singh as his Special Envoy to visit Japan. This appointment is in the rank of a Cabinet Minister.
4. The Insurance Regulatory and Development Authority (IRDA), India-s Insurance regulator, has imposed a penalty of 3.10 crore rupees on Bajaj Allianz Life Insurance for violation of various norms, including those related to early-death claims, KYC norms and group insurance.
5. The Indian Air Force (IAF) has received its third Boeing C-17 Globemaster III, a large, versatile military transport aircraft capable of carrying heavy, oversize loads long distances and landing on rough and unprepared surfaces. IAF will receive two more in 2013 and five in 2014. Once India receives its full complement of ten aircraft, it will be the largest C-17 operator outside the US. In operation since 1991, the C-17 has been used in humanitarian and military miss.
6. The Central Govenment has appointed V Kannan as Chairman & Managing Director of Vijaya Bank. Kannan, who is currently an executive director at Oriental Bank of Commerce, is expected to assume charge of his new role on 1st January next year.
The Central Government has also appointed Suresh N Patel as Executive Director of Oriental Bank of Commerce. He will assume charge as ED of Oriental Bank on 1st January next year when Kannan moves over to Vijaya Bank. Patel is currently General Manager at Dena Bank.
7. Sohan Roy, director of the film -Dam 999- and chief executive of Aries group of companies, has been conferred with the Rajiv Gandhi Shiromani Award. Sohan Roy has decades of experience in naval architectural engineering and has executed design projects across the world with a Guinness Book entry for the one on -the longest snake boat.-
 
 
24 August
25 August
Current Affairs Global - 25 August 2013
1. Chief Executive Officer of Microsoft Corp, Steve Ballmer, who has been with Microsoft Corp for more than three decades, unexpectedly announced his retirement as chief executive this week. Microsoft Corp has announced that he will step down as CEO within next 12 months. Microsoft may consider Satya Nadella, India-born executive, as next Microsoft CEO.
2. Red Bull-s Sebastian Vettel won the Belgian Grand Prix today to increase his lead in the drivers' championship. Ferrari-s Fernando Alonso and Mercedes-s Hamilton stood second and third respectively in the same race. Vettel's win lifted him to a total of 197 points while Alonso back to second on 151 with Hamilton third on 139.
Current Affairs India - 25 August 2013
1. The Jammu and Kashmir government has appointed a one-man Commission of Inquiry headed by Justice (retired) R C Gandhi to probe the Kishtwar communal clashes 9 in which three persons died earlier this month. The terms of reference for the Commission include enquiring into the circumstances which led to the violence and arson and the consequent loss of life and property in District Kishtwar.
2. Eminent Indian classical singer and music director, better known as a noted vocalist of Jayadeva-s -Gita Govind-, Pandit Raghunath Panigrahi passed away of cardiac arrest at his residence in Bhubaneswar today. He was 80.
3. Barings Asia has agreed to buy out the leading shareholders in software services company Hexaware Technologies for USD 465 million. Barings will pay General Atlantic and Atul Nishar 126-135 per share, a 5% premium to the current market price. Post this offer, Barings Asia will become the largest shareholder with 41.8% and it will have an opportunity to increase its stake through a mandatory open offer to existing shareholders to buy 26% as well.
4. The Indian under-23 team lifted the ACC Emerging Trophy tournament after defeating arch-rivals Pakistan by nine wickets in the final match. Indian team chased down the 160-run target in just 33.4 overs while batting second at the Kallang Ground.
5. India women team won second successive Gold medal in the Archery World Cup Stage 4 competition in Wroclaw, Poland today. In the Women's Recurve Team final, the sixth seeded Indian team of Deepika Kumari, Laishram Bombayla Devi and Rimil Buriuly defeated the top seeded Korean team of Yun Ok-Hee, Ki Bo Bae, and Joo Hyun Jung by 219-215 to win the Gold Medal.
6. Former India captain Sourav Ganguly has been appointed as the chairman of Bengal's cricket coaching committee. The former left-handed batsman will lead a five member panel that also includes Hiranmoy Chatterjee, Samir Dasgupta, Debabrata Das and Rupnath Roychowdhury.
Forex Reserves increased by USD 205.8 million to 278.807 billion
India-s Forex reserves were increased by USD 205.8 million to 278.807 billion for the week ended 16th August as per the recent weekly data released by RBI.
This increase was mainly due to increase in the reserve portion in the Foreign Currency Assets.  The Foreign Currency Assets (FCA) was increased by USD 211.7 million to 251.561 billion for the same week. However The SDRs (Special Drawing Rights) and Reserve portion with IMF were decreased by USD 3.9 million and USD 2 million respectively for the same week. Gold values were remained unchanged at USD 20.747 billion for the same reporting week.
India-s foreign direct investment jumped 16% to USD 1.44 billion in June
India-s Foreign direct investment (FDI) jumped by 16% in June compared to same month last year to USD 1.44 billion. This is the lowest FDI for the current year 2013. During April-June period of the current fiscal year 2013-14, FDI in India jumped by 22% to USD 5.39 billion compared to USD 4.42 billion during the same period last fiscal year.
The sectors that received large FDI inflows during the first quarter of the fiscal year  include pharmaceuticals (USD 1 billion), services (USD 945 million), automobile industry (USD 515 million) and computer software and hardware (USD 171 million). The maximum FDI during the quarter came from Singapore (USD 1.85 billion), followed by Mauritius (USD 1.09 billion), Germany (USD 510 million), the Netherlands (USD 408 million) and the US (USD 315 million). India really needs more FDI in order to reduce Current account deficit (CAD) and stop steep rupee depreciation.
26 August
 
27 August
Current Affairs Global - 27 August 2013
1. The United Nations General Assembly has declared April 6 as the International Day of Sport for Development and Peace last week. The President of General Assembly, Vuk Jeremic, hailed the decision a -historic- step in recognising the power of sport to erase cultural barriers and mobilize people around the world.
2. UN secretary general Ban Ki-moon has appointed a Pakistani army general, Lt Gen Maqsood Ahmed, as the Military Adviser for United Nations Peacekeeping Operations yesterday. He will replace Senegal's Lt Gen Babacar Gaye.
3. Pakistani Teenage activist MalalaYousafzai, shot in the head by a Taliban militant last October after campaigning for girls' right to education, has won the prestigious International Children's Peace Prize, KidsRights has announced today. She will receive the award from 2011 Nobel Peace Prize winner and women's rights campaigner TawakkolKarman at a ceremony in The Hague on September 6.
Current Affairs India - 27 August 2013
1. The Lok Sabha passed the food security bill yesterday, just eight months ahead of the 2014 election which was termed as a game-changer by UPA-II. As per the deal, It provides 5kg of rice, wheat or coarse grain per person, per month and it proposes to cover 67% of India-s population or 82 crore people. The cost will be approximately Rs 1.3 lakh crore for the Indian Government.
2. The Rajya Sabha has passed The Marriage Laws (Amendment) Bill, 2010 by voice vote yesterday. The bill seeks to amend the Hindu Marriage Act 1955 and the Special Marriages Act, 1954 which provides for irretrievable breakdown on marriage as a ground for divorce as well as grants women the right to a share in the property of their husbands. Also a provision has been made to restrict the grant of decree of divorce on the ground of irretrievable breakdown of marriage under the new bill,  if the court is satisfied that adequate provision for the maintenance of children born out of the marriage has not been made consistently with the financial capacities of the parents.
3. L C Goyal (IAS - Kerala, 1979) has been appointed as the new Secretary in the ministry of Rural Development. Goyal is currently serving as Special Secretary in the Cabinet Secretariat. He will succeed Subrahmanyam Vijay Kumar (IAS - Himachal Pradesh, 1976), who will superannuate on the last day of September.
4. Famous Kannada actress Ramya, who was elected to Lok Sabha from Mandya constituency in Karnataka last week, will be the first female actor from the state to enter parliament as Loksabha MP.Contesting for Indian National Congress party, she defeated C. S. Puttaraju of Janata Dal-Secular in the bypoll held on 21st August this year.
5. Bollywood actor and UNICEF (United Nations International Children's Emergency Fund) Goodwill Ambassador Amitabh Bachchan has joined the UN and its humanitarian partners to promote The World Needs More global campaign last week. Besides Amitabh Bachchan, international celebrities who have supported the campaign includes Beyonce, Susan Sarandon, Jennifer Lopez, LL Cool J, Geena Davis, Trey Songz and Christina Applegate.
6. Indian rupee dropped by record 194 paise today during intraday trading due to string USD demand of the Oil importing companies. This is Indian Rupee-s biggest ever single-day fall; it touched a lifetime closing low of 66.24 against the dollar.
7. India's biggest oil explorer at foreign lands, ONGC Videsh Ltd (OVL) has agreed to acquire 10% stake in an offshore gas field in Mozambique from US firm Anadarko Petroleum for USD 2.6 billion. OVL has been keen to secure supplies in an attempt to meet growing domestic demand for fuel and securer energy security for India.
8. India-s IT major Wipro will enter the National Stock Exchange-s 50-share Nifty index with effect from September 27, while Reliance Infrastructure would exit the index. The decision was announced by the India Index Services & Products Ltd today which manages the various indices at the exchange. Earlier, Wipro was dropped from the CNX Nifty index from April 1 as its non-IT businesses were hived off into a separate unit.
9. National Sports Day will be celebrated across India on Thursday (29th August) to commemorate the birth anniversary of Indian hockey legend Dhyan Chand. Government has approved the programme to spread sports to every corner of the country by creating a nationwide awareness about the fruitful side of sports.
10. Indian tennis player Sania Mirza won the women-s doubles trophy at the WTA New Haven Open along with her partner Jie Zheng of China last week. Third seeded Sania and Jie defeated the second-seeded Anabel Medina Garrigues and Katarina Srebotnik by 6-3, 6-4 in the final match to win the trophy.
 
28 August
Current Affairs India - 28 August 2013
1. The Reserve Bank of India (RBI) has released a discussion paper titled -Banking Structure in India - The Way Forward- in which it has pitched for stringent entry norms for new banks while suggesting four- tier structure for the domestic banking industry to improve the quality of the banking system and promote competition.
In the proposed four-tier system, the Reserve Bank has proposed a top tier consisting of 3 to 4 large banks with presence both in the country and outside, along with foreign bank branches. The tier two will consist of mid-sized banks with economy wide reach and will be followed by a category devoted to old sector private banks, regional rural banks and multi-state cooperative banks. The final tier will consist of privately owned local banks and cooperative banks.
2. Former Secretary of Ministry of New and Renewable Energy Gireesh B. Pradhan is expected to become the next Chairperson of the Central Electricity Regulatory Commission (CERC). Pradhan is an IAS officer of the 1977 Maharashtra and his last posting was Secretary, Ministry of New and Renewable Energy. He will succeed Pramod Deo who retired on 9th June this year.
3. India is now set for the launch of an exclusive home-built satellite for the Navy by European space consortium Arianespace from Kourou spaceport in French Guiana on Friday. GSAT-7 is India's first dedicated spacecraft for Defence applications.
4. India-s largest bank State Bank of India said today that it may merge one of the five associate banks in the current fiscal. SBI first merged its associate State Bank of Saurashtra with itself in 2008. Two years later in 2010, State Bank of Indore was merged with SBI.
 
29 August
Current Affairs Global - 29 August 2013
1. The five permanent members of the UN Security Council has failed to reach an agreement on a resolution that could authorize the use of military force against Syria. UK moved the resolution at the UN Security Council to attach Syria and protect civilians which was supported by the USA. Russia and China opposed the resolution saying that the time of war has not come yet.
2. The US economic growth has been revised upward to 2.5% (annualized) in the second quarter of the current year compared to earlier economic growth of 2.2%. This was more than double the pace recorded in the previous quarter and this increase was because of increase in exports and consumer spending.
Current Affairs India - 29 August 2013
1. National Sports Day is being celebrated today (29th August) marking the birth anniversary of hockey legend Dhyan Chand. Lok Sabha Speaker Meira Kumar congratulated all sportspersons for their achievement in various sporting activities.
2. Co-founder and mastermind of Indian Mujahideen, Yasin Bhatkal, has been arrested in a joint operation between the central intelligence agencies and Bihar police. He is a key suspect in several terror blasts since 2008 and most wanted terrorist for India.
3. Indian Parliament has passed food security bill this week which credit rating agency Moody-s term as credit negative for India as it is expected to worsen the government's weak finances. As per Moody-s statement today, "The measure is credit negative for the Indian government because it will raise government spending on food subsidies to about 1.2% of GDP per year from an estimated 0.8% currently, exacerbating the government's weak finances-. Moody's currently has a "Baa3" sovereign rating on India, or its lowest investment-grade rating, with a "stable" outlook.
 
30 August
Current Affairs Global - 30 August 2013
1. Brigalia Bam, former head of South Africa-s election body, won the prestigious Mahatma Gandhi International Award for Peace and Reconciliation for her commitment to democracy. She was conferred with this honor for ensuring free and fair elections since the establishment of democracy in 1994 when anti-apartheid icon Nelson Mandela was elected the country-s first democratic president.
2. Brazil's economy grew by 3.3% year-on-year in the second quarter of 2013. Compared to previous quarter, economic growth stood at 1.5%. The economic growth was mainly driven by agricultural sector which grew by 3.9% in the same quarter.
3. Inflation in the 17-nation euro zone dropped sharply to 1.3% in August compared to 1.6% in previous month of July. The drop was mainly due to price drop in energy segment which dropped to 0.4% in August from 1.6% in July. This is a good news for euro zone when it recovered from its record 18-month long recession.
4. The euro zone unemployment rate was steady at a record 12.1%  in July but there was another slight fall in the total jobless numbers after an improvement in June. In the full 28-member European Union -- including Croatia which joined in July - the unemployment rate was unchanged at 11%. Austria has lowest unemployment rate of 4.8% in July followed by Germany with 5.3%. Greece and Spain have highest unemployment rate at 27.6% and 26.3% respectively in July.
5. Bayern Munich winger Franck Ribery won the UEFA Best Player in Europe award for 2012/13 in recognition for his part in Bayern's unprecedented Champions League, Bundesliga and German Cup treble. He was the first player from a club other than Barcelona or Real Madrid to make the final three since the award was established by European soccer's governing body in 2011. Argentina's Messi won the inaugural award followed by Spaniard Andres Iniesta last year.
Current Affairs India - 30 August 2013
1. Indian parliament has passed the land acquisition bill which protects consent of landowners and steep hikes in compensation amid land acquisition related issues across the country. All the political parties joined hands to pass the popular bill before upcoming election next year.  The key features of the bill include consent of landowners for acquiring land for private and PPP projects and compensation norms set at 4 and 2 times the market rate for rural and urban land respectively. Industry body criticized the bill saying that it will increase land acquisition and rehabilitation cost by 3-5 times and it will hurt industry growth in India.
2. India's first exclusive defence satellite GSAT-7 was successfully launched by European space consortium Arianespace's Ariane 5 rocket from Kourou spaceport in French Guiana on Friday. This will be used by Indian Navy for maritime security and intelligence gathering in a wide swath of the Indian Ocean region.
3. The government has set up a 7-member Tax Administration Reform Commission (TARC) to revisit tax laws and suggest measures for putting in place a stable and non-adversarial tax administration. This commission will be headed by Parthasarathi Shome. The committee will also review the current mechanism of dispute resolution covering time and compliance cost and recommend steps for strengthening them for both domestic and international taxation and suggest a system to enforce better tax compliance.
4. ONGC Videsh Ltd Managing Director, D.K. Sarraf, has been appointed as the Chairman & Managing Director of ONGC, India-s largest Oil and Gas PSU. He will succeed Sudhir Vasudeva, the current Chairman and Managing Director of ONGC, who retires on February 28, 2014. Sarraf was selected out of the four candidates interviewed by the Public Enterprises Selection Board (PESB).
5. Kapil Parakh, an Indian-origin cardiologist working in Washington area, is among a dozen people chosen by the White House for its prestigious fellowship programme for 2013-14.
6. PV Sindhu-s Awadhe Warriors entered into the final of inaugural Indian Badminton League (IBL) yesterday after defeating Mumbai Masters by 3-2 in semifinal match. In the final, it will face Saina Nehwal-s Hyderabad Hotshots to win the first edition of IBL cup. Earlier Saina Nehwal defeated Juliane Schenk in a hard-fought match to secure final berth for Hyderabad Hotshots.
7. Indian hockey team reached the final of ninth Asia Cup after beating Malaysia 2-0 in the second semifinal today. VR Raghunath and Mandeep Singh scored the goals for India. With this win, India were assured of a berth in next year's World Cup as well.
India-s GDP growth drops to 4.4% in Q1; lowest in last 4 years
India's Gross Domestic Product (GDP) growth dropped to 4.4% for the first quarter of the current financial year which was much lower compared to 4.8% GDP growth in the previous quarter. This is the lowest quarterly growth in last four years. In the first quarter of 2012-13, the growth was 5.4%.
The manufacturing and mining sector witnessed negative growth of 1.2% and 2.8% respectively which pulled down the overall GDP growth numbers. Manufacturing sector growth stood at 2.6% in the previous quarter. Financing, insurance, real estate & business services sector growth stood at 8.9% in first quarter compared to 9.1% growth in the previous quarter. With this growth rate India-s GDP growth is going towards decade low GDP growth for the current financial year 2013-14.
Lower GDP growth with high inflation, record high current account deficit and record Indian rupee depreciation will further worsen India-s macro-economic condition. Also food security bill and Rupee depreciation are expected to increase fiscal deficit for the current financial year. India may face Credit rating downgrade if this continues.  RBI needs to cut rates immediately to boost growth which is difficult at this stage with high inflation and double digit retail inflation rate.
Refer the link to check sector wise growth in first quarter of 2013-14:
http://currentaffairs-businessnews.com/indias-quarterly-gdp-growth-fy13-and-fy14-q1/
 
31 August
Current Affairs Global - 31 August 2013
1. German football club Bayern Munich avenged their 2012 Champions League final defeat with a 5-4 penalty shoot-out win over ten-man Chelsea in UEFA Super Cup final held today. The match was 2-2 even after extra time.
2. Famous Irish poet Seamus Heaney passed away recently. He was 74. Heaney was awarded the Nobel Prize for Literature in 1995 "for works of lyrical beauty and ethical depth, which exalt everyday miracles and the living past".
Current Affairs India - 31 August 2013
1. In the first conviction in the December 16 gangrape case today, the juvenile accused was found guilty of murder and rape of the 23-year-old girl. But, he got away with a maximum of three years imprisonment mandated under the juvenile law. The Juvenile Justice Board Board sentenced the minor to three years in a probation home, the maximum punishment that can be awarded under the Juvenile Justice Act.
2. N R Narayana Murthy has stepped down as chairman of the National Payments Corporation of India (NPCI) after taking charge as executive chairman of Infosys. He returned back to Infosys as executive chairman in June this year to revive fortune of the struggling IT services company.
3. Justice Nuthalapati Venkata Ramana, judge of the Andhra Pradesh High Court has been appointed as the new Chief Justice of the Delhi High Court. He was appointed by the President of India, Pranab Mukherjee. Justice Nuthalapati Venkata Ramana took over from Justice Badar Durrez Ahmad, who is the Acting Chief Justice of the Delhi High court since June 2013.
 
................................End.........................