Current Affairs India - 8 February 2015

1. Central Government has announced that it would infuse Rs. 6,990 crore in nine public sector banks including SBI, Bank of Baroda (BoB) and Punjab National Bank (PNB) in order to improve their capital structure as per latest global risk norms. This is the first tranche of capital infusion which the government had earlier announced during budget for 2014-15. India-s largest bank SBI will get Rs. 2,970 crore while Bank of Baroda will get Rs. 1,260, PNB Rs. 870 crore and Canara Bank Rs. 570 crore.

2. Kolkata has become the first Wi-Fi-enabled metro city in India after Chief Minister Mamata Banerjee launched this 4th Generation (4G) free Wi-fi service in the city this week. Also the state government plans to cover whole city under Wi-Fi by mid-April 2015. The 4G Wi-fi service is provided by the Private telecom operator Reliance Jio.

3. India-s foreign exchange (forex) reserves jumped by USD 5.845 billion to all time high USD 327.883 billion in the week ended 30thJanuary, as per weekly report published by the RBI. Strong FII inflows to Indian capital market and reduction in import bill due to drop in Crude oil are the main reasons for record high forex reserves.

The jump was mainly due to increase in foreign currency assets which was increased by USD 5.814 billion to USD 303.325 billion in the same week. Special Drawing Rights and India-s reserve position in the International Monetary Fund (IMF) were also increased by USD 24.6 million and USD 6.8 million respectively in the same week. Gold Reserves remained unchanged at USD 19.377 billion in the same week.

4. Indian Anirban Lahiri won his maiden European Tour title after defeating Austrian Bernd Wiesberger in a in the final match of the Malaysian Open today.

Just three months after coming through qualifying school, Lahiri made up five shots on overnight leader Wiesberger before holding his nerve over the last few holes to emerge a winner by a single stroke after carding a four-under-par 68.