Current Affairs India - 26 June 2015

1. India-s Capital Market Regulator, SEBI has relaxed some IPO norms in order to help investors and companies. It has reduced the listing time to six days from the date of the public offer and also allowed a larger number of firms to tap the -fast-track- route for raising funds.

The shorter time period will also help reduce the costs associated with the public offering and this will be effective from 1st January 2016.

2. India-s foreign exchange reserves jumped by USD 1.17 billion to touch a new record high of USD 355.46 billion for the week ended 19th June, as per the weekly report published by the RBI. Foreign currency assets, a major component of overall reserves, increased by USD 1.135 billion to USD 330.71 billion in the reporting week.

India-s gold reserves remained unchanged at USD 19.34 billion in the same week. The special drawing rights were increased by USD 26.6 million to USD 4.07 billion while the country-s reserve position with the International Monetary Fund increased by USD 8.5 million to USD 1.32 billion in the same week.

3. Ericsson has appointed Paolo Colella as new Head of India business. Paolo will also take a seat on Ericsson-s Global Leadership Team and will report to the Chairman of Region India and Senior Vice President Asia-Pacific, Mats H Olsson.

4. Satnam Singh Bhamara became the first Indian-born player to be included in the NBA (National Basketball Association) League. He was picked by the Dallas Mavericks in the 2015 NBA Draft.

Born in Ballo Ke in Punjab, he started playing the game at an early age and he attended the government-funded Ludhiana Basketball Academy at the age of 12. At age 14, he was one of 29 Indian athletes in three sports who moved to the United States to get trained at the renowned IMG Academy in Bradenton, Florida, as part of a new scholarship programme.

5. India-s Inderjit Singh and Jinson Johnson won gold medals at the first leg of the Asian Athletics Grand Prix held in Bangkok, Thailand this week. Inderjit won the gold in Shot Put by throwing 19.83 meters while Johnson won the gold in 800 meter event with a time of 1:48.52.