Current Affairs India - 3 February 2016

1. India-s apex court, Supreme Court appointed a committee headed by formerChief Justice RM Lodha to sell assets of Pearls Agrotech Corporation Ltd (PACL)and refund Rs 49,000 crore to the investors. The investors invested in the firm-s collective investment scheme (CIS) which was termed as illegal by the Securities and Exchange Board of India (SEBI).

2. SN Prasad has been appointed as the Marketing Director for Coal India Limited with effect from 1st February, 2016. He succeeded B K Saxena, who retired recently. Before this appointment, He was the General Manager (Sales & Marketing) in South Eastern Coalfields Limited, the Bilaspur-based subsidiary of CIL.

3. Indian film Titli, directed by Kanu Behl, won the Best First Foreign Film Award conferred by the French Syndicate of Cinema Critics 2016 (FSCC). The story of the movie revolves around Titli, the youngest member of a violent car-jacking brotherhood, who plots a desperate bid to escape the family business.

4. India-s services sector growth jumped the maximum in last 19 months in January as PMI stood at 54.3 in January compared to 53.6 in December 2015, as per the seasonally adjusted Nikkei Services Activity Index. This is the strongest monthly gain in over one-and-a-half years. The overall jump was due to seventh successive monthly expansion of new business inflows.

5. India's largest IT Services Company Tata Consultancy Services has been rated as the world's most powerful brand in Information Technology Services, as per Brand Finance's 2016 annual report. Brand Finance's 2016 annual report evaluated thousands of the world's top brands to determine which are the most powerful and the most valuable. Based on high scores on familiarity, loyalty, staff satisfaction and corporate reputation, Tata Consultancy Services (TCS) emerged as the IT services industry's most powerful brand with a score of 78.3 points - earning it an AA+ rating.

6. India has surpassed the US to become the world-s second biggest market for smartphones with more than 220 million active smartphone users in 2015. The smartphone imports in India also grew by 15% annually in the October-December quarter, as per research report.

7. Former Lok Sabha speaker Balram Jakhar passed away today. He was 93. He served as Speaker of the Lok Sabha from 1980 to 1989 and played a crucial role in the automation and customization of the Parliamentary works. He also served as the Agriculture Minister in the Cabinet of former Prime Minister Narasimha Rao and later served as the Governor of Madhya Pradesh from 2004 to 2009.

8. S.S. Tarapore, former deputy governor of the Reserve Bank of India (RBI) and a famous economist, passed away in Mumbai yesterday. He was 80. He joined the RBI in 1961 and retired in 1996 as deputy governor. He was also known as an inflation hawk for his public comments and writings for being too lax on inflation control.