August 2015 Current Affairs List

Current Affairs Global - 2 August 2015

  1. Yahoo has announced that it will acquire style-tip specialist Polyvore for an undisclosed sum. This acquisition will help Yahoo to become a more fashionable place for online advertisement.

Polyvore is an 8-year-old start-up that specializes in connecting merchants with consumers browsing for ideas on clothing, health, beauty and home decor products.

Current Affairs India - 2 August 2015

  1. Rajendra Srivastava, Deputy President and Professor of Marketing at Singapore Management University, has been appointed as the next Dean of Indian School of Business (ISB), as announced by Adi Godrej, Chairman of the ISB Board.He will take charge from 1stJanuary 2016. Rajendra Srivastava will succeed Ajit Rangnekar who has been holding this position since January 2009.

He has an MBA and PhD (Business Administration) from the University of Pittsburgh, an MS in Industrial Engineering from the University of Rhode Island, and a B.Tech (Mechanical Engineering) from the Indian Institute of Technology, Kanpur.

  1. India-s 14 year old Prabhroop Sekhon won two gold medals in 300 metre and 500 metre Roller Skating events in the Special Olympics World Summer Games held at Los Angeles, USA. He won the medals. He is from Lucknow, Uttar Pradesh and an Autistic student and is son of a serving Indian Air Force Officer, Group Captain BS Sekhon.

Special Olympics World Summer Games are an international sporting competition organized by Special Olympics for athletes with intellectual disabilities.

  1. The Sports Ministry has confirmed that Indian Tennis star Sania Mirza has been recommended for the Rajiv Gandhi Khel Ratna. It has also said that the final decision rests with only the Awards Committee.

She recently won her career's first ever women's doubles Grand Slam title with Swiss partner Martina Hingis in June this year and became World No 1 player which is achieved by an Indian woman player for the first time.
Current Affairs Global - 3 August 2015

  1. Global Credit Rating agency Standard & Poor's has lowered its outlook on the European Unionto -Negative- from existing outlook of -Stable- as it expects that the EU would provide first-loss guaranteesupport for financing connected to the Juncker investment plan. 

  2. Famous country singer of USA Lynn Anderson passed away after she suffered a heart attack in Nashville, US. She was 67. Best known for her 1971 worldwide hit I Never Promised You a from Rose Garden, she had won a Grammy award for Rose Garden and in 1971, she was also the Country Music Association-s female vocalist of the year.

Current Affairs India - 3 August 2015

  1. India signed a historic peace accord with the rebel NSCN(IM) today that promises a return to normalcy in the state which has put an end to decades-long bitter insurgency in the North Eastern state. The agreement was signed by chief Indian interlocutor R N Ravi with T Muivah, chairman of NSCN (IM), the largest of the Naga insurgent groups, at the Prime Minister's residence today evening.

  2. Mercedes-Benz has appointed Roland S Folger as the Managing Director and Chief Executive Officer of its India operations. He will replace former MD and CEO Eberhard Kern who will assume a new role for the European market.

Under the leadership of Eberhard Kern during the past three years, the growth strategy of Mercedes-Benz India has been enhanced including the expansion of production capacity, as well as extension of network and product portfolio, the company said in a statement.

  1. Indian women-s recurve archery team including members of Laxmirani Majhi, Deepika Kumari, and Rimil Buriuly won silver medal in World Archery Championship held in Copenhagen, Denmark recently. They were defeated by Russian team to end up winning Silver medal.

Current Affairs India - 4 August 2015

  1. Central Governmenthas extended term of senior IAS officer Rajan S Katoch as the Director of the Enforcement Directorate (ED) till October 2015. Earlier, he was appointed to top most post of Enforcement Directorate (ED) in March 2012 for three year term which was to end in January 2015.

  2. India-s largest telecom operator Bharti Airtel has acquired mobile payments solutions company, YTS Solutions, for an undisclosed sum. Post this acquisition, Bharti Airtel will integrate YTS Solutions with Airtel Money Services Ltd, a subsidiary of Airtel.

RBI keeps repo rate unchanged at 7.25 percent during its monetary policy review today
RBI Governor Dr Raghuram Rajan has kept key policy rates unchanged during its third bi-monthly monetary policy review meeting for fiscal year 2015-16 today. Repo rate, the rate at which RBI lends money to banks for the short term, was kept unchanged at 7.25% while the Reverse Repo Rate, the rate at which RBI borrows money from banks, was kept unchanged at 6.25%. The cash reserve ratio for banks has been kept unchanged at 4%.
The RBI has also kept statutory liquidity ratio (SLR) of scheduled commercial banks unchanged at 21.5%. Statutory liquidity ratio (SLR) refers amount that the commercial banks require to maintain with the RBI in the form of gold or government approved securities (G-Secs or bonds) before lending. At the same time, the RBI has also retained its growth target at 7.6% for the current fiscal year 2015-16.
Current Affairs India - 5 August 2015

  1. Union Rural Development Minister Chaudhary Birender Singh has launched -SAMANVAY- web portal to monitor progress and implementation of the Sansad Adarsh Gram Yojana (SAGY) for development of Gram Panchayats.The web portal will be managed by the Union Ministry of Rural Development.

The -SAMANVAY- web portal consist a compilation of all Government schemes of both Centra and State governments for Gram Panchayats. The purpose of this portal is to help Member of Parliament-s (MPs) to utilize relevant schemes in the planning and implementation of Sansad Adarsh Gram Yojana (SAGY).

  1. Mathematician Dr. Amalendu Krishna was awarded with the Ramanujan Prize for year 2015 for his outstanding contributions in the area of algebraic cycles, algebraic K-theory and the theory of motives.Currently he is working as a mathematician professor at the Tata Institute of Fundamental Research (TIFR), Mumbai. Dr. Krishna is only the second Indian to win this award after Sujatha Ramadorai who won it in 2006.

Ramanujan Prize was established in 2005 after famous Indian mathematician Srinivasa Ramanujan. It recognizes a researcher from a developing country who has conducted outstanding research in a developing country and is less than 45 years of age.

  1. FamousHindi litterateur Kashinath Singh was awarded with Uttar Pradesh's highest literary award, -Bharat Bharti- which was presented by UP Hindi Sansthan with a cash prize of Rs 5 lakh.

Other awardees are Mridula Garg (Lohia Sahitya), Vinod Kumar Shukla (Hindi Gaurav), Krishna Bihari Mishra (Mahatama Gandhi Sahitya Samman), Abhiraj Rajendra Mishra (Deendayal Upadhaya Sahitya Samman) and Ramkrishna Rajput (Avantibai Sahitya Samman).

  1. The National Dairy Development Board (NDDB) was awarded with Esri Special Achievement in GIS Award 2015 for exemplary work in Dairy Geographical Information System and the award was given at the annual Esri International User Conference held in San Diego.

NDDB-s Internet-based Dairy Geographical Information System (i-DGIS) application is the first of its kind in India, where village-level integration of data has been done, at such a large scale, for the dairy sector.

  1. Chinese E-Commerce giant Alibaba has announced to invest Rs 4000 crore in m-commerce company Paytm in order to compete with other Indian players and Global player Amazon. Alibaba has also picked up 25% stake in Paytm-s parent company One97 through its subsidiary Ant Financial.

Current Affairs Global - 7 August 2015

  1. Popular business magazineForbes has released the World's highest paid actors list. Hollywood actor Robert Downey Jr. topped the list with an earnings of USD 80 million in previous year followed by Jackie Chan with an earnings of USD 50 million and Vin Diesel with USD 47 million.

Amitabh Bachchan, Salman Khan and Akshay Kumar are the Indian Actors who were figured in the top 10 highest earning actors in the list while Shah Rukh Khan and Ranbir Kapoor were also figured in the list.

  1. Indian-American Atul Keshap has been appointed as the U.S. Ambassador to Sri Lanka and Maldives. With this, he has become the second Indian-origin diplomat to be posted in the Asian region after Richard Rahul Verma. He is currently working as Deputy Assistant Secretary of State in South and Central Asian Affairs Bureau of State Department. He joined the Foreign Service in 1994.

  2. Facebook founder and CEO Mark Zuckerberg unveiled Facebook'sAquiladrone which is fully powered by solar power and will help to beam internet in most remote regions of the globe.  The drone is reported to have wingspan of a "Boeing 737" and be lighter than a car.

  3. Billionaire investor Prem Watsa-backed Thomas Cook (India) Ltd has acquired Kuoni Group-s travel businesses in India and Hong Kong for nearly Rs 535 crore. The deal includes outbound travel brand SOTC and destination management brand SITA but excludes VFS Global.

Post this acquisition, Thomas Cook will take in about 1,800 employees of Kuoni-s business unit in India and Hong Kong tour operations.

  1. The US economy added 215,000 jobs in July and its unemployment rate is held at seven year low of 5.3% for the same month.This improved unemployment rate confirms improved health of the US economy which increases possibility of a rate hike by the Federal Reserve in September this year.

Current Affairs India - 7 August 2015

  1. Prime Minister Narendra Modi announced 7thAugust as -National Handloom Day- at the function held in Chennai in order to commemorate the 1905 Swadeshi movement which happened 110 years ago.The key aim to observe the day as the National Handloom Day is to honour the handloom weavers and to provide motivation to India-s handloom industry.

  2. Union Cabinet has approved the proposal of direct release of wages in to the bank accounts of the workers who are engaged under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA).This will help to streamline the fund flow process and reduce cost and bottleneck in the same. The wage component of MGNREGA will be directly released to the worker-s accounts based on a fund transfer order which will increase efficiency.

  3. The Reserve Bank of India has published a new notification in which it has allowed banks to shift, merge or close all branches in urban areas without seeking its prior permission but permission is required in case of rural and sole semi-urban branches. Also as per notification, banks do not have to report details of opening of new mobile branches, automated teller machines (ATMs) or call centres.

  4. India-s largest telecom company Bharti Airtel has commercially launched the high-speed 4G services across 296 towns across India on 6thAugust.For the 4G devices Airtel has formed partnership with mobile handset maker Samsung to develop and provide 4G-enabled handsets in affordable price. Reliance Industries is also planning to launch its 4G services across the nation named as -Reliance Jio- this year.

  5. Mutual fund house Pramerica has acquired the asset management business of Deutsche Bank in India for a deal close to Rs 300-400 crore. The transaction is subject to approval by the Securities and Exchange Board of India and the Competition Commission of India.

As of June 30, 2015, Deutsche AMC had assets of around Rs 20,720 crore, while Pramerica managed assets worth Rs 2,125 crore.

  1. Indian football team has been ranked at 156thposition as per latest FIFA ranking. Argentina leads the ranking followed by Belgium, Germany, Columbia and Brazil in top 5 positions. Portugal, Romania, England, Wales and Chile secured positions 6thto 10th respectively in the same ranking.

Current Affairs India - 9 August 2015

  1. A global satellite for earth observation and disaster risk reduction (DRR) proposed under the UN framework will be named after former Indian president and noted rocket scientist APJ Abdul Kalam.The GlobalSat for DRR is an initiative undertaken by the UN for sharing space technology with a view to reduce disasters.

  2. Global electronic manufacturing giant Foxconn has announced that it would invest USD 5 billion over the next five years in Maharashtra to set up manufacturing plant within this country for the first time. The new facility focus on research and development as well as manufacturing.

A Memorandum of Understanding was already signed between Foxconn and Maharashtra state government in which Foxconn will be given 1,500 acres of land near Mumbai-Pune expressway for the land.

  1. Indian President Pranab Mukherjee has appointed Acharya Dev Vrat and Ram Nath Kovind as the governors of Himachal Pradesh and Bihar respectively. Ram Nath Kovind will succeed Keshri Nath Tripathi who was holding additional charge of Bihar along with West Bengal. Acharya Dev Vrat will succeed Kalyan Singh who was holding the additional charge of Himachal Pradesh along with Rajasthan.

  2. Global IT and consultancy firm Accenture has appointed Rekha M Menon as Chairman of its India operations and appointed Anindya Basu as the Managing Director (MD) in India. Menon is currently MD, human resources, for company's growth markets and has been leading HR strategy for Asia Pacific, Middle East, Africa, Russia, Turkey and Latin America. Anindya Basu will be responsible for driving Accenture's domestic business in India.

Current Affairs Global - 10 August 2015

  1. Australian cricket captain Michael Clarke has announced his retirement from International Cricket after playing the current Ashes series where Australia has already lost the series to England. He will play his last Test at the Oval, London, scheduled to be held from 20thAugust. He led the Australian ODI cricket team to win the 2015 Cricket World Cup held early this year.

Current Affairs India - 10 August 2015

  1. Union Government has launched Suraksha Bandhan drive through participating banks and insurance companies in order to facilitate enrolment under social security schemes.The drive aims to take forward the Government-s objective of creating a universal social security system in the country, targeted especially at the poor and the under-privileged.

The drive will be supported through the Jeevan Suraksha Gift Cheques, which will be available for purchase for Rs 351 in Bank branches. Anyone wishing to gift them can use this to facilitate one year payment of premium for Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana by the recipient.

  1. The Alumni Association of Rajagiri School of Engineering and Technology has launched the Param Tyag Chakra to honour family members of brave military men, who sacrificed their lives for the nation and launched a web platform to collect details of these family members.

Also they have invited everyone including the general public, the government, corporates etc to join this initiative in different ways in order to help.

  1. Indian sociobiologist Raghavendra Gadagkar was awarded with the Germany's highest civilian honour Cross of Order of the Merit at the German Consulate in Bengalurufor his contribution in the field of behavioural ecology and sociobiology and for improving Research Corporation between India and Germany.

The Cross of Order of the Merit award was established in 1951 by the first President of the Federal Republic of Germany Theodor Heuss and which is considered to be the highest civilian award of Germany awarded to Germans as well as to foreigners.

  1. Goa Tourism was awarded with the Pacific Area Travel Writers Association (PATWA) - Safari India South Asia Travel Award 2015.Minister Dilip Parulekar received the award, become the first tourism minister of Goa to receive this prestigious award.

  2. Famous Kannada poet and freedom fighter Kayyara Kinhanna Rai passed away at Badiyadkka in Karnataka. He was 101. He was an author, poet, journalist and Indian independence activist.

He led the movement of merging the Kannada-speaking region of the Chandragiri river (Kasaragod district) with Karnataka in order to fulfill its linguistic and development aspirations after the 1957 States Re-organisation.
Current Affairs Global - 11 August 2015

  1. Search engine giant Google Inc has announced formation of a new holding or parent company called Alphabet Inc to encompass its search engine unit and all other subsidiaries.The new parent company was formed as part of Google-s new organisational structure which will help the company to keep tremendous focus on the extraordinary opportunities and products. Under the new structural arrangement all subsidiaries of Google will be brought under the control of Alphabet Inc which will come into effect later 2015.

The new company will be led by Co-founder and current CEO of Google Larry Page and the other co-founder Sergey Brin will work as as the President and Eric Schmidt will be executive Chairman.
At the same time, Chennai born Sundar Pichai has been appointed of as CEO of new Google (subsidiary of Alphabet). With this, he joins the league of famous Indian born CEOs leading global giant companies. Pichai will now lead Google-s future strategy. Larry

  1. Greece and its international lenders completed a multi-billion-euro bailout agreement today after marathon talks. Post this, a new aid will be disbursed for Greece who can pay the next debt repayment on time. The pact is expected to be worth up to nearly 86 billion euros (USD 94.75 billion) in fresh loans for Greece.

Current Affairs India - 11 August 2015

  1. The Supreme Court ruled today that Aadhar card will be optional for availing various welfare schemes of the government and ordered that no personal information of the holders of such cards shall be shared by any authority.A three-judge bench headed by Justice J Chelameswar ruled that -no personal information of Aadhar card shall be shared by any authority- in order to secure fundamental rights of every Indian citizen.

It directed that the information received by UIDAI shall not be used for any other purposes, except in criminal investigation with the permission of the court.

  1. Indian city Kochi becomes first Indian city to be a member of the World Tourism Cities Federation (WTCF) Council and join its league of leading tourism cities across the world.The invitation to be the member of the council was sent to Kerala Tourism Department by WTCF which was formally accepted the state Tourism Department on 10thAugust 2015. Kochi was invited to be the member of the council on ground of its partnerships in culture, sports and tourism.

  2. President of India, Pranab Mukherjee presented the 24th Saraswati Sammaan for the year 2014 to Dr. M Veerappa Moily for his epic Sri Ramayana Mahanveshanam written in Kannada language. Divided into five volumes, Ramayana Mahanveshanam was first published in 2007 in Kannada and later the poem was translated into English, Hindi, Telugu and Tamil.

  3. India-s largest private sector bank, ICICI Bank has launched -ICICI Bank Saral-Rural Housing Loan- Scheme for weaker sections of society which will enable the bank to provide home loans with special interest rate for people from rural areas including women borrowers and from weaker sections.With this scheme, ICICI Bank seeks to support the socio-economic development of a larger section of the society especially economically deprived sections.

  4. Sania Mirza was the only the second tennis player to be recommended for the prestigious Rajiv Gandhi Khel Ratna award after Leander Paes. Paes was given the award in 1996 after winning bronze medal at the Atlanta Olympics.Sania, currently ranked world number one in women's doubles, scripted history by becoming the first Indian to clinch a women's doubles Grand Slam along with her Swiss partner Martina Hingis for the Wimbledon trophy earlier this year.

Indian cricketer Rohit Sharma and famous shooter Jitu Rai were chosen among the 17 sportspersons picked for this year's Arjuna awards.
Current Affairs International - 12 August 2015

  1. World-s richest Microsoft co-founder Bill Gateswas ranked at number 1 position with net worth of USD 79.6 billion in the list of Forbes- -Top 100 richest people in technology-.He was followed by Ellison of Oracle (USD 50 billion), Jeff Bezos of (USD 47.8 billion), Mark Zuckerberg, co-founder of Facebook (USD 41.2 billion), Larry Page (USD 33.4 billion) and Sergey Brin (USD 32.8 billion) of Google and Jack Ma of Alibaba in the same order. Only seven women were featured in the list which is topped byLaurene Powell Jobsm widow of Steve Jobs with USD 21.4 billion.

Only 2 Indians were included in the top 20 of Forbes- -Top 100 richest people in technology-, they are Azim Premji of Wipro and Shiv Nadar of HCL Technologies. Azim Premji secured 13th Place with net worth of USD 17.4 billion and Shiv Nadar secured 14th place with net worth of USD 14.4 billion in the list.

  1. British publisher Pearson has announced that it is selling its 50% stake in -The Economist-, which it has held for the past 58 years, for 469 million pounds.Exor, the investment arm of Italy-s Agnelli family, will raise its stake to 43.4%, from 4.7%, for 287 million pounds. Post which it will be the largest shareholder of The Economist. Theremaining stake will be sold to The Economist Group directly for £182 million.

Current Affairs India - 12 August 2015

  1. National Bank for Agriculture and Rural Development (NABARD) got accredited by the Green Climate Fund as a national implementing entity for undertaking climate change related projects in India. The United Nations Framework Convention on Climate Change (UNFCCC) had set Green Climate Fund (GCF) in 2010 to help developing countries to finance clean energy projects other mitigation efforts and adaptation to climate change.

Accordingly NABARD is the only national implementing entity in the country for undertaking climate change projects. NABARD will get funds in the form of concessional loan or in form of grant or through other modalities approved by the GCF Board.

  1. Larsen and Toubro has appointed former Infosys executive Sanjay Jalona as the Managing Director and CEO of its subsidiary L&T Infotech, which is the IT arm of manufacturing and industrial conglomerate L&T. Post his appointment as MD and CEO, his first job will be to improve profitability and growth of L&T Infotech.

Before joining the L&T Infotech, he was working as an executive vice-president and global head of High-Tech Manufacturing and Engineering Services for Infosys. He was with Infosys for fifteen years.

  1. India-s snooker player Pankaj Advani won his 13th world title after winning the World 6-Red Snooker Championship.Defending champion Advani defeated Chinese Yan Bingtao easily by 6-2 to win the world title. He fired in a massive 71 break in the seventh frame to be one frame away from defending his title which he won in Egypt last year.

IIP grew by 3.8 per cent in June; Retail inflation dropped to record low of 3.78 percent in July
India's Index of Industrial Production, the most important parameter to judge performance of industrial sector, grew by 3.8% in June compared to 2.7% growth in May compared due to rise in growth of manufacturing sector. This is the highest IIP growth in last 4 months. Manufacturing sector output, which constitutes over 75% of the index, grew by 4.6% in June compared to 2.2% growth in May. For the April-June 2015 period, IIP growth stood at 3.2% compared to 4.5% growth in the first three months of last fiscal year.
At the same time, India's Retail inflation, measured by Consumer Price Index, dropped to 3.78% in July compared to 5.4% in June. The rise in the index of food items dropped to 2.15% in July compared to 5.48% in June. With this sharp drop, retail inflation is now well below RBI-s target interest rate of 6% and it gives more room to RBI governor to cut interest rates during next monetary policy review meeting.
Current Affairs India - 13 August 2015

  1. The United Nation's Security Council (UNSC) three permanent members US, China and Russia have opposed negotiations to reform the UN Body which included India's bid for a permanent seat in the powerful UN body.India has received support from the other two permanent members of the body, France and UK. Apart from India, it was proposed in the negotiating text that Brazil, Germany, India, Japan and an African representation also be included among the permanent members of a reformed UNSC.

  2. Union Railway Ministry has signed four Memorandum of Understandings (MoUs) with Union Power and New & Renewable Energy Ministry for energy conservation, transmission and solarisationin order to improve cooperation between both parties in different areas from electricity transmission to promotion of renewable energy and energy conservation in a time bound manner.

  3. The Union Cabinet has approved the spectrum sharing guidelines based on the recommendations of the Telecom Regulatory Authority of India (TRAI) in order to improve spectral efficiency and quality of telecom service across the country.Spectrum sharing will be allowed only for the access service providers in the first instance in a Licensed Service Area (LSA).

  4. Jethabhai Patelwas elected as the Chairman of Gujarat Cooperative Milk Marketing Federation (GCMMF).Before that Patel was the Chairman of Sabarkantha District CooperativeMilk Producers Union Limited from 2010. He succeeded Vipul Chaudhary. Gujarat Cooperative Milk Marketing Federation (GCMMF) is the Asia-s largest milk cooperative and apex marketing body comprising 17 dairy unions of Gujarat.

  5. Global beverage maker Coca-Cola India has roped in former Indian Cricket team captain Sourav Ganguly as its social ambassador for a three-year deal ending in 2017. He replaced Indian batting legend Sachin Tendulkar whose contract ended last year.

Besides the cricket association, Ganguly will lead Coca-Cola's football programmes and run various grassroots football activities. Ganguly has also volunteered to be a part of the Coca-Cola Support My School movement - a programme that promotes the cause of healthy schools.

  1. Bollywood megastar Amitabh Bachchan has accepted the proposal of Maharashtra Forest Minister Sudhir Mungantiwar, to be the tiger ambassador of the state.He will promote eco-tourism, especially tiger tourism in Maharashtra of the state as its tiger ambassador.

  2. Industrialist OP Munjal, Chairman Emeritus of Hero Cycles and one of the founders of the Hero Group, passed away today after brief illness.He was 87. Due to health issues, he had retired from active role in the business last month and his son Pankaj Munjal succeeded him as the Chairman and Managing Director of the Hero Motors group.

Munjal along with his three brothers Brijmohan Lall Munjal, Dayanand Munjal and Satyanand Munjal started bicycle spare parts business in Amritsar in 1944. The named the company -Hero- and set up India-s first bicycle manufacturing unit in 1956.
India-s exports contracted by 10.3 percent in July; Drops for eighth consecutive months
India-s export contracted by 10.3% in July compared to same month last year to USD 23.13 billion which is a drop in export for eighth consecutive months. Total imports also dropped by 10.28% in July compared to same month last year to USD 35.94 billion due to steep drop in global crude oil prices. Trade deficit for the same month stood at USD 12.81 billion which was lower compared to trade deficit of USD 14.27 billion in July last year. Gold imports were increased by 62.22% to USD 2.96 billion in July 2015 from USD 1.82 billion in July last year.
For the April-July period of current financial year 2015-16, total exports dropped by 15.04% to USD 89.82 billion compared to USD 105.72 billion while total imports dropped by 12.01% to USD 134.86 billion compared to USD 153.27 billion in the same period.
India's overall inflation drops to all time low of (-) 4.05 percent in July, pushed stock markets higher on rates cut hope
India's overall inflation, measured by the Wholesale Price Index (WPI), drops to all time low of (-) 4.05% in July compared to (-) 2.4% in June due to drop in prices of food and fuel products. This is the ninth consecutive time since November 2014, wholesale price index remained in the negative zone.
The rate of inflation for manufactured products dropped to (-) 1.47% in the same month compared to (-) 0.77% in June. Food articles inflation declined to (-) 1.16% in July compared to 2.2% in June due to sharp drop in vegetable prices which dropped by 24.25% in July. The CPI, which is the main index focused by the central bank, also dropped sharply in July. This steep drop in inflation raised expectations that the RBI may cut rates even before its next monetary policy review on 29th September.
Current Affairs India - 16 August 2015

  1. Union Government-s Pratyaksha Hastaantarit Laabh (PAHAL) scheme has been acknowledged as the world-s largest cash transfer program (households) by the Guinness Book of World Records.The scheme was formally launched as Direct Benefit Transfer Scheme for LPG subsidy in 2013 in 291 districts under the aegis of Union Ministry of Petroleum and Natural Gas. Later it was renamed as PaHal in November 2014 and was launched in 54 districts which was extended nationwide from 1stJanuary 2015.

  2. President Pranab Mukherjee has appointed former IAS officer Om Prakash Rawat as an Election Commissioner (EC) in the Election Commission of India (ECI).He will have tenure of more than three years till December, 2018 when we will attain the retirement age of 65 years.

Earlier he had served as a Director in the Defence Ministry in 1993 and as Principal Secretary to then Chief Minister of Madhya Pradesh to Babu Lal Gaur from 2004 and 2006. He also had served as Secretary at Department of Public Enterprises in the Ministry of Heavy Industries from 2012 till December 2014 when he retired. With his appointment, the three-member of ECI are Om Prakash Rawat , Nasim Zaidi (Chief Election Commissioner) and A K Joti (EC).

  1. The Insurance Regulatory and Development Authority of India (IRDAI) has allowed banks to tie up with insurers as a part of its new Bancassurance model guidelines. Prior to this decision, banks were not allowed to have insurance agency tie-ups with more than one insurer.

IRDAI had constituted a 7 member committee to study the reviewing of the existing architecture of the Banacassurance model. As per new decision banks can tie up with nine insurers from three segments which are life, non-life and standalone health insurance companies.

  1. Online property search portal has acquired HomeBuy360, a unique cloud-based Sales Lifecycle Management Platform, for nearly USD 2 million. This is's third acquisition this year. With this acquisition, became the only online real estate listing platform to own a developer CRM company.

  2. World number 1, Spanish Carolina Marin won 21-16 World Championship Women-s title after defeating India-s Saina Nehawal in the final of the World Badminton Championship in Jakarta on 16thAugust.Saina ends up winning the silver medal. Saina became the first Indian to reach the final in the women's singles after she defeaeted Lindaweni Fanetria by 21-17, 21-17 in the semifinal match yesterday. PV Sindhu won the bronze twice in 2013 and 2014 and Jwala Gutta and Ashwini Ponnappa won the bronze in women's doubles in 2011. Prakash Padukone was the first Indian to win a bronze in 1983.

In the men-s category, Top seed Chen Long retained world champion title at the World Badminton Championships in Jakarta on 16th August after defeating Malaysia's Lee Chong Wei in the men's singles final match for a fourth successive time.

  1. India's Abhishek Verma won the gold medal in the compound men's individual section in the Archery World Cup Stage 3 competition in Poland on 15thAugust.At Wroclaw, he performed his best in the individual final as he held on to his lead to wrap up the issue 148 -145, against Esmaeil Ebadi of Iran.

Current Affairs India - 17 August 2015

  1. Union Minister of State for Ministry of Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homeopathy (AYUSH), Shripad Naik has announced that the biggest AYUSH hospital will be set up in New Delhi. This will be in line of All India Institute of Medical Sciences (AIIMS) and will cater to 500 patients. He also announced that the government plans to take the traditional healing practices of Yoga and Ayurveda to every village and will post Ayurvedic doctors at primary health centres in rural areas.

  2. Uttar Pradesh Chief Minister Akhilesh Yadav launched an official twitter account of the Taj Mahal on 15thAugust. With this, Taj Mahal has become the first historical monument in the world to get a twitter handle.A tourist could share his picture on #MyTajMemory that would be included in a collage of photos of the monument on the main account, which is @Taj Mahal.

  3. Former Cabinet Secretary, Ajit Seth has been appointed as the Chairman of the Public Enterprises Selection Board.He will be in charge of the post till the age of 65 or for three years, whichever is earlier. He will replace Atul Chaturvedi.

  4. Birla Corporation has acquired Jojobera unit in Jharhkand and Sonadih in Chattisgarh of French-based Lafarge Group for nearly Rs. 5000 crore.The Lafarge disinvested these two units in order fulfil the directions given by Competition Commission of India (CCI) as a part to conclude its mega global merger with Swiss-based Holcim Ltd and its operations in India.

Birla Corp will acquire these cement units along its brands -Concreto- and -PSC- and also its management team. These two plants have total cement capacity of 5.15 million tonnes per annum (mtpa) and have adequate reserves of limestone.

  1. World-s largest bicycle manufacturer Hero Cycles acquired majority stake in UK-based Avocet Sports for an undisclosed sum. This is first overseas acquisition of Hero Cycle. Manchester-based Avocet is among top three players in bicycles, e-bikes, bicycle parts and accessories in the UK and with this acquisition, Hero Cycle aims to enter into high-end bicycle market in Europe.

  2. Shoojit Sircar's film Piku was awarded the -Best Film- award at the Indian Film Fest of Melbourne (IFFM) 2015 held at the iconic Federation Square Building in August. Shoojit Sircar won the best director and Irfan Khan won the best actor award for the same movie while debutante Bhumi Pednekar of Dum Laga Ke Haisha won the best actress award. The best indie film award was received by Kaka Muthai film and Rajkumar Hirani's PK received the Best Telstra People's Choice Award.

  3. Indian cricketer Ajinkya Rahane became the first fielder in test cricket history to take eight catches in a match. He achieves record on 3rd day of the first test against Sri Lanka. Rahane broke record of five international players who took 7 catches in a match which are Yajurvindra Singh (India), Greg Chappell (Australia), Hashan Tilakaratne (Sri Lanka), Stephen Fleming (New Zealand) and Mathew Hayden (Australia).

Current Affairs India - 18 August 2015

  1. President Pranab Mukherjee's wife and India-s first lady Suvra Mukherjee passed away at New Delhi on 18thAugust after suffering brief illness. She was 74. She was a talented painter and well-accomplished in Rabindra Sangeet. She has authored two books, Chokher Aloey, an account of her close interaction with Indira Gandhi and Chena Achenai Chin, a travelogue recounting her visit to China.

  2. The Reserve Bank of India (RBI) suspended licence of seven non-banking finance companies (NBFCs) which are Religare Finance, Artisans Micro Finance, Eden Trade & Commerce, RCS Parivar Finance, Nott Investments, Dewra Stocks and Securities, Swetasree Finance. Religare Finance licence was suspended by RBI as it is a dormant entity and did not conduct any lending operation for long period of time.

  3. Maharashtra government has roped in Indian Cricket legend Sachin Tendulkar as its new ambassador for the Tiger Conservation Project.Sachin Tendulkar has accepted an offer which was forwarded by state Forest Minister Sudhir Mungantiwar on the World Tiger Day which was on 29thJuly 2015.

Maharashtra state has six tiger reserves which are Tadoba, Melghat, Pench, Nagzira, Sahyadri and Bor and the state has recorded around 190 tigers as per the 2014 Tiger census.

  1. The selection committee headed by former Indian hockey captain Zafar Iqbal recommended the names of former India volleyball captain TPP Nair, Davis Cup captain SP Misra and hockey goalkeeper Romeo James for Dhyan Chand award this year. Dhyan Chand award is India's highest award for lifetime achievement in sports and games.

  2. Union government has appointed two private sector banking professionals as Mangling Director (MD) and Chief Executive Officer of Bank of Baroda (BoB) and Canara Bankwhich is the first time that the government has appointed the two candidates from the private sector to head the Public Sector Banks (PSBs).P S jayakumar was appointed as the MD and CEO of Bank of Baroda (BoB) while Rakesh Sharma was appointed as the MD and CEO of Canara Bank.

The Union Government has also appointed MD and CEO of other three PSBs, MO Rego as MD and CEO of Bank of India (BoI), Kishore Kharat Piraji as MD and CEO IDBI Bank and Usha Ananthasubramanian as MD and CEO of Punjab National Bank (PNB).

  1. India-s largest lender State Bank of India launched a mobile wallet app named as SBI Buddy, in collaboration with Accenture and Mastercard. The service will be available to both existing and non-SBI customers. The mobile wallet app can be used to send money to new and registered customers, book for movies, flights, hotels as well as for shopping. It also has features like reminders to settle dues, recharge and pay bills instantly.

  2. Moody's Investors Service has lowered India-s growth forecast to 7% for 2015 compared to earlier forecast of 7.5% due to poor monsoon.Though it has kept India-s growth projection unchanged at 7.5% for the next year 2016.

Current Affairs International - 19 August 2015

  1. The World Photography Day is annually observed today (19thAugust) across the world for both the professional or amateur photographers.The French government announced the invention as the first practical gift to the world on 19th August 1839 which marked the beginning of the World Photography Day.

  2. Bangladesh Under-16 team won the South Asian Football Federation (SAFF) under-16 title after defeating defending champions India by 4-2 in Penalties. This is also Bangladesh-s first-ever title.

Current Affairs India - 19 August 2015

  1. The Reserve Bank of India has granted in-principle approval to 11 payment banks applicants under the Guidelines for Licensing of Payments Banks.The central bank has approved applications of Aditya Birla Nuvo Limited, Airtel M Commerce Services Limited, Cholamandalam Distribution Services Limited, Department of Posts, Fino PayTech Limited, National Securities Depository Limited, Reliance Industries Limited, Tech Mahindra Limited, Vodafone m-pesa Limited. RBI had earlier received 41 applications for payments banks.

A payments bank is allowed to take deposits, allow remittances and provide simple financial products. The payments bank will need to invest 75% of its funds in government securities. The minimum capital needed to set up a payments bank is set at Rs 100 crore. The bank will be allowed to accept savings deposits of up to Rs 1 lakh from each customer.

  1. The Cochin International Airport became the first in the world to operate completely on solar power.Kerala Chief Minister Oommen Chandy inaugurated the 12 MWp solar power plant, comprising 46,150 solar panels laid across 45 acres near the cargo complex, at a function at the airport today.

With this, the airport will have 50000 to 60000 units of electricity per day to be consumed for all its operational functions, which technically makes the airport -absolutely power neutral-.

  1. Athletics Federation of India President Adille Sumariwalla was today elected as one of the members of the prestigious Council of the IAAF, the global governing body of the sport. He was elected as one of the nine individual members of the all-powerful IAAF Council at the 50th Congress of the world athletics body held a day ahead of the start of the World Athletics Championships. With this, he became the first Indian to be elected in the IAAF Council.

  2. India-s leading stock exchange, Bombay Stock Exchange has introduced new system Suspicious Transaction Reports (STRs) for reporting suspicious trades with the aim to check money laundering through stock markets.It asked its members to report details of the STRs submitted to the government-s Financial Intelligence Unit (FIU) on a monthly basis.

  3. Aditi Chauhan, India-s international football team goalkeeper, became the first Indian woman to play English league football when she made her debut for the women-s teamof the West Ham United in the opening game of the season against Coventry City.

Current Affairs International - 20 August 2015

  1. Greece's Prime Minister Alexis Tsipras has resigned from the post and has called an early election.He took this decision after Greece secured the third bailout in order to avert default on its payment.

Earlier he had to agree to some painful measures including state sector cuts and pension reforms in order to secure another bail-out and keep Greece within Euro zone. Greece received the first 13 billion euro tranche of the bailout recently which helped Greece to repay a 3.2 billion euro debt to the European Central Bank to avoid a default.

  1. The world government body of athletics, the International Association of Athletics Federations (IAAF) has appointed former British Olympic champion Sebastian Coe as its new president. He succeeds Senegalese Lamine Diack, aged as 82, who has led the IAAF for 16 years.

  2. The Australian government appointed former Australian cricketer and Wicket keeper Adam Gilchrist as nation's inaugural ambassador to the region on education. He will play an important part in supporting the growth in the strong bilateral education relationship between Australia and India.

Current Affairs India - 20 August 2015

  1. The Ministry of Road Transport & Highways issued a notification to introduce Bharat Stage IV (BS-IV) compliant four wheeler vehicles though out the country from 1stApril 2017. As per the notification, all newly manufactured four-wheeled vehicle that are complaint with the BS-IV standards will be allowed to registered and move on roads in order to reduce air pollution.

Bharat stage emission standards also known as -Bharat Stage- are emission standards instituted by the Government of India in accordance with European regulation standard -Euro norms- to regulate the output of air pollutants that vehicles emits.

  1. Famous Bollywood actor Anupam Kher has been named as an advocate for the United Nations- campaign on gender equality in which he will call men and boys to stand up against inequalities against women and girls.UN Women Deputy Executive Director Lakshmi Puri declared and honored Anupam Kher as an advocate for the -HeForShe- Champion at a ceremony held recently.

  2. Chief of Madhya Pradesh Tourism Development Corporation (MPTDC) and a Railway Officer, Ashwani Lohani has been appointed as the new CMD of state run airlines company Air India. He will succeed current CMD Rohit Nandan.

Nandan was appointed to the post in August 2011 for a three-year period and given 1 year extension which is ending this month.

  1. Famous Historian writer Babasaheb Purandare has been conferred with Maharashtra Bhushan Award 2015 in literature category by Governor C. Vidyasagar Rao at a function held in Raj Bhavan, Mumbai. Maharashtra Bhushan Award is a highest civilian award of Maharashtra state presented by the state government every year. He is famously known as Shiv Shahir i.e. -Shivaji-s poet- and he is being credited with writing the first historical work on 16th century Great Maratha king Chattrapati Shivaji.

  2. Hindustan Unilever, Tata Consultancy Services (TCS) and Sun Pharma Industries are the three Indian companies which are included in the list of the world-s 100 most innovative companies byForbes magazine today. Hindustan Unilever has been ranked 41 on the list, followed by TCS at rank 64 and Sun Pharma at rank 71.

The list of the world-s 100 most innovative companies was topped by Tesla Motors followed by, Alexion Pharmaceuticals, Regeneron Pharmaceuticals and ARM Holdings in the top 5 list.

  1. Famous Indian shuttler Saina Nehwal regained the number one spot in world badminton rankingsreleased today by toppling Spanish Carolina Martin to whom she had lost recently in the final of World Championships. She had first become the World No. 1 in March after her maiden win at the Indian Open, also first ever by any Indian woman shuttler.

In men's singles, Parupalli Kashyap jumped two places to become World No. 8, while women's doubles combination of Jwala Gutta and Ashwini Poppanna got placed into top 10 after their quarterfinal finish at the World Championship.
Current Affairs India - 23 August 2015

  1. India's High Commissioner to Singapore, Vijay Singh Thakur has received with the 'Asian of the Year 2014' award by leading Singapore daily on behalf of Prime Minister Narendra Modi this week. PM Modi was awarded with this award for his contribution towards India-s development.

  2. Union government has announced to sell 10% stake in state owned Indian Oil Corporation (IOC) in order to raise its divestment target. The Union Government is expected to raise Rs 9,500 crore from this sell off.

Currently, Union government holds around 68.57% shares in IOC which is the biggest oil refining and marketing company in the country.

  1. Finance Minister Arun Jaitley inaugurating Bandhan Bank as a full-fledged scheduled commercial bank today which was granted license by the RBI this year. With this, India gets its first private bank in 11 years. Famous bankers and policymakers were present at the inaugural ceremony. Bandhan is the first microfinance company to transform into a bank.

  2. Bharti Airtel Limited has tied-up with the Uber Cabs to allow Uber riders to pay using Airtel-s mobile wallet service Airtel Money. Also as per this tie up, Uber will set up WiFi hotspots in each of its cabs and Uber will pay Airtel for the bandwidth consumed. Now this service will be launched in Mumbai first which will be rolled out across the country.

  3. Kerala-s Chengalikodan bananaattained the Geographical Indication (GI)status in the Chennai based Central GI registry. Chengalikodan banana is known for its unique shape, size, color and taste.

The GI status is a status given to products having a unique geographical origin and evolution over centuries. Darjeeling tea is the 1st ever agricultural product in India to be accorded by GI.
Current Affairs International - 23 August 2015

  1. Ranil Wickremesinghe was sworn in as the Prime Minister of Sri Lanka and he was administered the oath of office by President Maithripala Sirisena.He had earlier served as Prime Minister of Sri Lanka three times in the past, from 1993 to 94, from 2002 to 2004 and now since January 2015.

  2. For the first time, women in Saudi Arabia will able to vote and run for office at the Municipal Elections that are scheduled to be held in December 2015. As per report, around 70% are looking to run as candidates while around 80 women candidates have registered as campaign managers. This change in rule was approved in 2011 by late Saudi King Abdullah bin Abdulaziz al-Saud and expected to be implemented in the 2015 election.

Current Affairs India - 24 August 2015

  1. Stock markets around the world crashed today after steep Chinese market selloff triggered panic button and investors rushed to sell their stocks. Sensex sank by 1625 points to close at 25,742 at the end of trading day which is the biggest fall in historywhile Nifty crashed 491 points. All the other key markets were down by more than 5% while Chinese market crashed 8.5% leading the market fall. Also Indian rupee weakened as much as 82 paise to close at fresh two-year low of Rs 66.65 per USD.

Finance Minister Arun Jaitley and RBI governor Raghuram Rajam have attributed the stock market crash to global turbulence saying that the government and RBI are watching the situation closely. Reserve Bank of India (RBI) governor Raghuram Rajan said that India has sufficient foreign exchange reserves to prevent volatility in the currency market.

  1. Famous actor-director Amol Palekar has been appointed as chairman of India-s Oscar jury, which will select the country-s official entry in the best foreign film category for the 88th Academy Awards. He will be heading the 17-member jury.

Current Affairs International - 25 August 2015

  1. The People's Bank of China cut its key lending rate by 25 bps to 4.6% in order to calm stock markets after two days of market crash across the world.This is the fifth interest rate cut since November last year. This sudden rate cut boosted confidence and pushed world market indexes higher today.

  2. Syria-based woman journalist Zaina Erhaim was chosen for the prestigious 2015 Peter Mackler Award for Courageous and Ethical Journalism. She was bestowed with this award for her efforts to train citizen reporters in her war-ravaged country. She has trained about 100 citizen reporters (third of them are women) from inside Syria over the last two years. The award has been named after late Agence France-Presse (AFP) journalist Peter Mackler and instituted in 2008.

  3. World number one Serena Williams won the Cincinnati Masters Women-s Singles titleby defeating Simona Halep of Romania at the final match held at Cincinnati in Ohio State of the USA.

Roger Federer won the Cincinnati Masters Men-s Singles title by defeating Novak Djokovic of Serbia at the final match held at Cincinnati in Ohio State of the USA.

  1. Jamaican athlete and famous sprinter Usain Bolt has won world 100 metre title in the World Athletics Championships held in Beijing, China. He completed 100 metre run in 9.79 seconds which is the season-s best timing. Justin Gatlin of United States won silver medal after finishing at the second spot in 9.80sec. Usain Bolt is the first athlete to hold both the 100 metres and 200 metres world records. He is Olympic gold medallist and has won medal in 2008 Beijing and 2012 London Olympic games in 100 metres.

Current Affairs India - 25 August 2015

  1. Justice Madanlal Laxmandas Tahaliyani has appointed as the new Lokayukta of Maharashtra. He was sworn in by the Governor Vidyasagar Rao at a ceremony held in Raj Bhavan in Mumbai today. He succeed Justice PB Gaikwad whose term as Lokayukta had ended on July 2014.

  2. The Reserve Bank of India has provided approval to Yes Bank for re-appointment of Yes Bank co-founder Rana Kapoor as MD and CEO of the bank for 3 years. This will be with effect from 1stSeptember this year.

  3. The government has announced Dronacharya Awards, Dhyan Chand Awards and Rashtriya Khel Protsahan Puruskar for 2015. Dronacharya Awards will be awarded to Athletics Para-sports coach Naval Singh and Wrestling coach Anoop Singh. Coach Harbans Singh will be given Dronacharya Awards for his life time contribution to Athletics, Coach Swatantar Raj Singh for Boxing and Coach Nihar Ameen for his life time contribution in Swimming.

Dhyan Chand Award 2015 will be given to Romeo James for Hockey, Shiv Prakash Mishra for Tennis and T.P.P Nair for Volleyball. The awardees will receive their awards from the President Pranab Mukherjee at a function at Rashtrapati Bhawan on 29th August (annual sports day).

  1. U Mumba won the Pro Kabaddi league 2015 after defeating Bengaluru Bulls by 36-30 in a thrilling summit final match.Wiith this win, U Mumba won the second Star Sports Pro Kabaddi crow.

Current Affairs International - 27 August 2015

  1. The US economy grew by an annualized rate of 3.7% in the April-June quarter of the current year which was much better than earlier estimation of 2.3%.The better growth was due to better corporate investment in the same quarter. With this higher growth, Fed may increase rates which has been kept at historically low level since financial crisis in 2008-09.

  2. World tennis champion and No1 player Novak Djokovic became a new goodwill ambassador for the UN Fund for Children. With this he joins the list of famous athletes and celebrities to hold the post. He has already worked to help vulnerable children through his role as UNICEF Serbia ambassador and his Novak Djokovic Foundation.

  3. South African Skipper AB de Villiers has broken former India captain Sourav Ganguly's record of being the fastest to reach 8,000 runs in One Day International Cricket. He took 182 innings to reach 8,000 ODI runs, 18 innings quicker than Ganguly and 28 innings quicker than Sachin Tendulkar.

Current Affairs India - 27 August 2015

  1. India successfully launched its latest communication satellite GSAT-6 today with an indigenously cryogenic engine using a GSLV-D6 rocket. The GSLV-D6 carrying the 2117 kg GSAT-6 lifted off at 4.52 pm from the second launch pad of the Satish Dhawan Space Centre and placed the satellite in orbit, after about 17 minutes.

  2. The Central Government unveiled the list of 98 cities that will be part of its ambitious Smart Cities project, the list was release by the Union Minister of Urban Development Venkaiah Naidu. The list includes 13 cities from Uttar Pradesh, 12 from Tamil Nadu, 10 from Maharashtra, 7 from Madhya Pradesh, 3 each from Bihar and Andhra Pradesh.

  3. The United Kingdom has announced that it would fund a capacity building programme for making Kolkata a low carbon city.This will be implemented by the UK-Kolkata Municipal Corporation joint programme which was announced during presence of the UK Minister of State for International Development, Desmond Swayne.

The programme would cover over 20 multi-sectoral projects, including rooftop solar plant, a mobility plan, a master plan for energy-efficient street lighting, a disaster management plan and a green city business and investment plan.
Current Affairs International - 30 August 2015

  1. Greece-s new caretaker government was sworn in on 28thAugust and will rule the country till fresh polls next month. Vassiliki Thanou took oath as the country-s first female prime minister. Earlier former Greek Prime Minister Alexis Tsipras stepped down last week following a rebellion by members of his leftwing Syriza party who objected to the conditions of Greece-s third international bailout.

  2. Lionel Messi was voted UEFA's Best Player in Europe for last seasonafter defeating his teammate Luis Suarez and Real Madrid's star footballer Cristiano Ronaldo in a Europe-wide poll of journalists. He and Cristiano Ronaldo both ended the season with 77 goals.

  3. Jamaica team won gold in final of men-s 4x100 relay event of the World Athletic Championships in Beijing. The Jamaican team consisting of Usain Bolt, Asafa Powell, Nesta Carter and Nickel Ashmeade finished the final with a time of 37.36 seconds.Bolt has already won the individual 100 metres and 200 metres events this year to make his total Gold medals count to 11 in the World Athletic Championships.

Current Affairs India - 30 August 2015

  1. Petroleum and Natural Gas Ministry launched -SAHAJ- online LPG connections in New Delhi today to give more convenience to the LPG customers. The facility will be simultaneously launched at other cities as well. The new system will be available on the websites of each oil company and the government's LPG portal, Pahal.

  2. New Delhi-s Aurangzeb road will be renamed as Dr. APJ Abdul Kalam road.The New Delhi Municipal Council or NDMC has decided to change the name from Aurangzeb road to Abdul Kalam road which begins at the Taj Mansingh hotel near India Gate and joins Safdarjang Road near the official residence of the Prime Minister.

  3. Famous Indian agricultural scientist Dr Modadugu Vijay Gupta has been chosen for the inaugural Sunhak Peace Prize for his pioneering work in the blue revolution. He will receive the Prize in Seoul along with President of Kiribati Islands Anote Tong.

He has invested his entire life to developing sustainable aquaculture as an alternative solution to the future food crisis. Anote Tong has been chosen for this award for creating global awareness on the severity of climate change issue and sought for action by the international community for its solution.

  1. The Reserve Bank of India has asked all banks and financial institutions to be prepared for the implementation of Foreign Account Tax Compliance Act - FATCA in a notification releasedon 29thAugust and asked banks to be ready with proper due diligence framework and reporting requirements. RBI said that India has signed an agreement with US to improve international tax compliance apart from a multi-lateral agreement to automatically exchange information based on Convention on Mutual Administrative Assistance in Tax Matters.

  2. India-s Wrestler Anil won gold medal in in the 50 kg freestyle category in the Cadet Wrestling World Championships at SARAJEVO, the capital of Bosnia and Herzegovina. He defeated Erfan Aeini of Iran 10-6 to win the gold medal. It was second medal for India at SARAJEVO as Ankush won silver in the 38 kg women freestyle on 28thAugust.

  3. Indian women-s hockey team has been qualified for Olympics after a long gap of 36 years as it has qualified for next year-s Rio Games after making it to the final of the ongoing EuroHockey Championships in London.Indian women hockey team also completed fifth-place finish in the women-s Hockey World League Semifinals in Antwerp, Belgium last month. International Hockey Federation (FIH) confirmed that Indian women-s team has qualified for the Rio Games.

Current Affairs India - 31 August 2015

  1. The housing ministry has identified 305 cities and towns across nine states for its -Housing for All- (Pradhan Mantri Aawas Yojna) scheme.With this it will start building houses for the poor in urban areas as per its target to provide houses to two crore families belonging to the economically weaker section (EWS) in urban areas by 2022.

The states that are likely to gain are Chhattisgarh, Gujarat, J&K, Jharkhand, Kerala, Madhya Pradesh, Odisha, Rajasthan and Telangana. Also six other states; Andhra Pradesh, Bihar, Manipur, Mizoram, Nagaland and Uttarakhand have agreed to implement six key reforms relating to clearances and approval for housing projects to accelerate their construction.

  1. The Supreme Court stayed Rajasthan High Court's order declaring Santhara, a Jain ritual of voluntary and systematic fasting to death, as a criminal offence and issued a notice to Centre and the Rajasthan government.Earlier this month, the Rajasthan High Court had banned Santhara making it punishable under section 306 (abetment of suicide) of the Indian Penal Code.

  2. The government has appointed the Finance Secretary Rajiv Mehrishi as the new Home Secretary. Current he is working as the Economic Affairs Secretary and due to superannuate today. He will hold the post for 2 years.He succeeds L.C. Goyal, IAS who took voluntary retirement from government service due to personal reasons with immediate effect.

  3. Senior IAS officer Raghav Chandra has taken over as the Chairman of the National Highways Authority of India (NHAI) today.He succeeds Road Transport and Highways Secretary Vijay Chhibber who was given the additional charge of the key post in June this year for three months after former Chairman R P Singh completed his tenure.

Before this current appointment, Chandra was Additional Secretary and Financial Advisor for the Department of Agriculture & Cooperation, ADF and Culture.

  1. Indian economy grew by 7% in the first quarter of the current fiscal year 2015-16 which is much higher than the 6.7% growth recorded in the same quarter last fiscal year. However this growth is much lower compared to 7.5% growth witnessed in the previous quarter. The manufacturing sector grew by 7.2% in the same quarter compared to 8.4% in the year-ago period while growth in the output of electricity, gas, water supply and other utility services dropped sharply to 3.2% compared to 10.1% a year earlier.The farm and allied sectors grew at 1.9% compared to 2.6% in the same quarter last year.

RBI, which has cut interest rate by 0.75% since January this year, may cut interest rates during its next bi-monthly policy on 29th September.

  1. India-s core sector growth slowed to 3-month low of 1.1% in July compared to 4.1% growth in the same month last year due to contraction in crude oil, natural gas and steel sector output. These eight core sectors have nearly 38% weight in overall Index of Industrial Production (IIP).

During the April to July period of the current financial year 2015-16, core sector output grew by 2.1% compared to 5.5% growth in the same period last financial year.