Current Affairs Global - 20 June 2014

1. Famous Indian born author, Salman Rushdie has been awarded with the Pen Pinter prize for the current year 2014 for his outstanding literary output and support for freedom of expression. Rushdie is best known for his novel 'Midnight's Children', for which he won the Booker followed by the one-off Best of Booker in 2008. He also wrote the controversial novel 'The Satanic Verses'. He will be presented with his prize at the British Library in London on 9 October.

The award was established in 2009 by writers' charity English Pen in memory of British writer Harold Pinter. His prize will be shared with an International Writer of Courage, selected by him in association with English Pen's Writers at Risk committee.

2. The World Bank has downgraded global economic growth projection by 0.5% today but expects growth momentum to pick up in coming months. Terming the overall growth prospects for South Asia as "disappointing", the Bank said that developing economies should now shift focus from demand management in order to curb inflation to more growth oriented policies by reducing interest rates.

The World Bank has projected a 5.5% GDP growth for India in 2014, which will increase to 6.3% and 6.6% in 2015 and 2016 respectively.