Current Affairs India - 24 February 2015

1. BJP and PDP have finally announced to form their coalition government in Jammu and Kashmir today. BJP President Amit Shah met PDP leader Mehbooba Mufti in Delhi today and made the formal announcement. As per the announcement, PDP will get the Chief Minister post and BJP will get the deputy Chief Minister post.

2. 14th Finance Commission, headed by former RBI Governor Y.V. Reddy, submitted its report to Central Government. The commission has recommended to increase state-s share in the centre's tax revenue to 42% from current 32%. The recommendations of the commission has accepted by the centre which is for the 5 year period from FY 2015-16 to FY 2019-20.

3. Chairman of the Intergovernmental Panel on Climate Change (IPCC), Dr. Rajendra Kumar Pachauri has resigned from his post, after being named in a sexual harassment case. A 29-year-old researcher of TERI has made sexual harassment charges against him after she joined TERI in September 2013.

4. The Indian Army and India-s largest bank State Bank of India (SBI) have signed a Memorandum of Understanding (MoU) on the Defence Salary Package on 23rd February. The revised MoU has added some additional facilities and basic features which include Many free/concessional services like free cheque books, free drafts, free funds transfers to any bank in India through RTGS / NEFT, free ATM cards and others etc.

The allocation also includes the Nepal Express Remittance Scheme which enables instant fund transfers to Nepal for the benefit of the Nepali Domicile Gorkha Soldiers serving in the Indian Army.

5. Ranchi Rays won the Hero Hockey India League 2015 after defeating Jaypee Punjab Warriors by 3-2 in the final at Major Dhyan Chand National Stadium, New Delhi. Ranchi Rays, which was earlier named as Ranchi Rhinos also lifted the inaugural Hero Hockey India title in 2013.