Current Affairs India - 2 August 2014

1. Famous Indian filmmaker Muzaffar Ali has been selected for Rajiv Gandhi National Sadbhavana Award today for his outstanding contribution towards the promotion of Communal harmony, peace and goodwill. This will be the 22nd edition of the Sadbhawna award and the award will be presented at Jawahar Bhawan on 20th August at a special ceremony, the birthday of late Prime Minister Rajiv Gandhi.

It carries a citation and cash award of Rs 5 lakh. Recipients of the award include Mother Teresa, K R Narayanan, Ustad Bismillah Khan, Lata Mangeshkar, Sunil Dutt, Dilip Kumar, Ustad Amjad Ali Khan and Maulana Wahiduddin Khan.

2. The Supreme Court (SC) ruled that a complaint about a bounced cheque must only be filed at the place where the bank dishonoured it, settling doubts raised by its own earlier conflicting judgments on the jurisdiction of a magistrate. Some judgments had specified the place where the cheque was issued, others from where the notice of dishonour was sent and still others the place of receipt.

A three-judge bench headed by T S Thakur unanimously laid down that the place of dishonour is the right place to file a complaint. However, to avoid inconvenience to persons already prosecuting such cases, the new rule is to come into force only with respect to cases in the future.

3. The Central Bureau of Investigation has registered a case against the Chairman and Managing Director of Syndicate Bank, S K Jain for alleged bribery case. As per allegation, the CMD asked for bribe to extend credit facilities to certain companies.

Simultaneous raids have been conducted in 20 places across Bangalore, Bhopal, Mumbai and Delhi, and that bribe amount of Rs 50 lakhs has also been recovered.

4. The board of directors of India-s largest milk federation, the Gujarat Cooperative Milk Marketing Federation (GCMMF), unanimously elected Jethabhai Patel as the new Chairman yesterday. GCMMF sells milk products under the -Amul- brand. All the 17 board members were present for the election held on Friday at Anand and unanimously elected Patel to the top post in the Rs. 18,000-crore milk federation.

5. Senior IRS officer K V Chowdary took over as the new Chairman of the Central Board of Direct Taxes (CBDT) yesterday. He has replaced R K Tewari who superannuated on 31st July. Before his appointment, he was Member (Investigations) in CBDT.

6. Deputy National security Advisor Nehchal Sandhu resigned and his resignation was accepted by Prime Minister Narendra Modi on 31st July. He, former Director Intelligence Bureau, resigned citing "personal reasons".

He, a 1973 batch IPS officer of Bihar cadre, took over as Deputy National Security Adviser and Secretary in NSCS on 21st March, 2013.

7. Reserve Bank of India's new deputy governor S S Mundra took charge of banking supervision, currency management, financial stability and rural credit yesterday. He has been appointed for three years. He succeeded former deputy governor KC Chakrabarty put in his papers three months before his term ended.

Before that, he was chairman of Bank of Baroda. He had begun his career as a probationary officer in Bank of Baroda in March 1977.

8. India-s manufacturing activity jumped to 17-month high in July with a stable government in place. The HSBC compiled Purchasing Managers Index (PMI), an important parameter to analyze the performance of the sector, jumped to 53 in July from 51.5 in June. Any reading higher than 50 indicates growth in the sector.

9. India-s Forex reserves were increased by USD 2.714 billion to 320.564 billion for the week ended 25th 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 2.733 billion to 293.784 billion for the same week. Foreign currency assets are expressed in US dollar terms include the effect of appreciation or depreciation of the non-US currencies, such as the euro, pound and yen, held in the reserves. However the SDRs (Special Drawing Rights) and Reserve portion with IMF were decreased by USD 13.6 million and USD 5.3 million respectively for the same week. Gold value remained unchanged at USD 20.634 billion for the same reporting week.

10. The first Indian woman mountaineer to scale Mount Everest, Bachendri Pal was awarded with the -Bharat Gaurav- award by the Kolkata based football East Bengal Club. She was honoured at a function held at the Khudiram Indoor hall at East Bengal's to celebrate the 95th foundation day celebrations.

Bachendri, who heads the Tata Steel's Adventure Foundation apart from being an instructor at the National Adventure Foundation, was given a cheque of Rs 2 lakh.

11. Indian athlete Vikas Gowda won gold medal in men's discuss throw event at the 20th Commonwealth Games on Friday. This is also India-s first gold medal in athletics. He won a silver in the 2010 Delhi Games.

Dipa Karmakar became the first Indian woman gymnast of India to win a medal at the Commonwealth Games being held at Glasgow in Scotland. She won a bronze medal in the vault event and scripted history for and in India.

India-s Men's Hockey team defeated New Zealand in the semifinals 3-2 to enter into the final of Commonwealth Games. India will face World Champions Australia for Gold Medal in the final.