Current Affairs India - 25 October 2015

1. The Reserve Bank of India (RBI) issued a notification to all Scheduled Commercial Banks on implementation of the Gold Monetisation Scheme, 2015 as per notification from the Union Government. The RBI issued the direction to banks in exercise of powers conferred on it under Section 35A of the Banking Regulation Act, 1949. The GMS 2015 will replace the existing Gold Deposit Scheme, 1999.

All scheduled commercial banks have been allowed to offer this scheme under which customers can deposit their gold and earn interest on it. The minimum deposit at any one time shall be raw gold (bars, coins, Jewellery excluding stones and other metals) equivalent to 30 grams of the precious metal of 995 fineness, the RBI said. There is no maximum limit for deposit under the scheme.

2. India-s first Paragliding World Cup has started at Bir Billing in Kangra district of Himachal Pradesh. Snow leopard is the official mascot of this World Cup. Also this is for the first time that Paragliding World Cup is being organized in a South Asian country. Indian side is represented by 8 flyers and 6 among them are from the Himachal Pradesh.

3. Famous marine biologist Syed Zahoor Qasim passed away in New Delhi this week. He was 88. He is considered as the founder of Polar Biology in India and was part of the first Indian expedition to Antarctica in 1981-82. Based on his research, he also published around 200 original research papers in national and international journals. He was also a member of Planning Commission (1991-96) and served as the vice-chancellor of the Jamia Millia Islamia University in New Delhi.