Current Affairs India - 20 October 2015

1. Prime Minister Narendra Modi inaugurated new bank IDFC Bank in New Delhi today which started its operation from October this year. IDFC Bank was granted a banking license by the Reserve Bank of India (RBI) in July this year. It was founded a non-operative financial holding company (NOFHC) in 2014 to manage its five subsidiaries IDFC Bank, IDFC MF, IDFC Alternatives, IDFC IDF & IDFC Securities to conform with RBI guidelines.

2. The Union Government has appointed sports administrator Vijay Kumar Malhotra as the President of the All India Council of Sports. His position will be in the rank of Minister of State. The council also includes former sportspersons, including PT Usha, Limba Ram, N Kunjarani Devi, IM Vijayan, Baichung Bhutia and P Gopichand. Before that, he acted as the Senior Vice President of the Indian Olympic Association (IOA) and the acting President of the IOA after the arrest of Suresh Kalmadi in connection with the alleged irregularities in awarding contracts for the 2010 Commonwealth Games.

3. India-s fourth largest IT services company, HCL Technologies, acquired Swedish vehicles company Volvo Group-s external IT business for USD 138 million in an all-cash deal. The deal will be subject to both the parties entering into binding agreement(s) and regulatory approvals.

4. India-s cricket governing body, BCCI announced new sponsor of the Indian Premier League (IPL) title as M/S VIVOmobiles, which is a Chinese Smartphone maker. It replaced PepsiCo who pulled out from 5 year contract which was supposed to be end in 2017.

5. Famous batsman Virender Sehwag, known for his aggressive innings, has formally announced his retirement from international cricket, more than two-and-a-half years on from his last appearance for India. He said he would no longer play in the IPL as well.He played 104 Tests, 251 ODIs and 19 T20Is, scoring over 17,000 international runs. He also scored first a double century in ODI and scored first triple century in Tests for India.

6. Indian tennis player Saketh Myneni has won the 2015 Vietnam Open trophy held last weekend. He defeated Australia-s Jordan Thompson by 7-5, 6-3 score in the final match to win his first first singles ATP Challenger title of the 2015 season.