General Dalbir Singh Suhag takes over as the 26th Army Chief of India
- » 59-year-old Lieutenant General Suhag, a Gurkha officer who had participated in the 1987 Indian Peace Keeping Force operation in Sri Lanka, will have 30-month tenure.
- » He was made the Vice Chief of Army Staff in December last year before which he was the Eastern Army Commander.
Rajasthan Assembly passes four labour reform Bills
- » In a landmark step to usher labour reforms in the country, the Rajasthan Assembly on Thursday passed four labour reform Bills aimed to prevent victimization of workmen, encourage employment, ease retrenchment norms, speedily dispose cases among other things.
- » The Assembly passed four Bills: the Factories (Rajasthan Amendment) Bill 2014, the Industrial Disputes (Rajasthan Amendment) Bill 2014, the Apprenticeship (Rajasthan Amendment) Bill 2014 and the Contract Labour (Regulation and Abolition) (Rajasthan Amendment) Bill 2014. The Vasundhara Raje-led Rajasthan government had tabled these Bills in the House last week.
Annual job growth doubled in past decade: Economic census
- » Job growth in establishments during the United Progressive Alliance (UPA) government’s tenure was almost double the rise during the previous National Democratic Alliance (NDA) regime, provisional results of the Sixth Economic Census, issued on Wednesday, show.
- » According to the report, issued by the statistics and programme implementation ministry, the average annual job growth during 2005-14 was 4.3 per cent, compared to a 2.5 per cent annual rise in jobs during 1998-2005.
- » The Atal Behari Vajpayee-led NDA government was in power during 1998-2004, after which the Manmohan Singh-led UPA government took charge for a decade. During 2005-14, employment grew 34.3 per cent. In 2013-14, the establishments registered 127.7 million (mn)jobs, compared to 95.05 mn in 2005.
UP govt removes Advocate General
- » The Uttar Pradesh government has removed Advocate General (AG) Vinay Chandra Mishra from his post.
- » "From July 29 Uttar Pradesh Governor has relieved Vinay Chandra Mishra, Advocate General, from his post," said a notification issued by the state government on July 29.
- » As per the notification Chief Minister Akhilesh Yadav has been authorised to select the new AG.
- » Mishra has served as Chairman of Bar Council of India and president of Bar Council of Allahabad High Court for seven terms.
- » To bring government closer to commoner and remove drudgery of maintaining huge amount of complaints related documents Madhya Pradesh government today introduced its "M-Governance" platform.
- » Introduced with private partnership, the platform will enable a commoner to narrate his grievances that requires government intervention. Interestingly this new "M-governance" facility would also entertain complaints pertaining to corruption and irregularities, particularly when the state chief minister and his family already are facing charges of corruption and irregularities in a multi-crore entrance exam scam.
- » Soon a mobile application version of this platform will also be launched.
- » In a controversial move, global private banking major HSBC has closed a number of “risky” accounts belonging to Muslim groups and individuals in the UK.
- » The bank’s statement said, “We do not discuss relationships we may or may not have with a customer, nor confirm whether an individual or business is, or has been a customer.
Below the Important Current Affairs for Banking Exams
India's infrastructure output growth hits 9-month high in June
- » India's annual infrastructure sector growth hit a nine-month high of 7.3 per cent in June, government data showed on Thursday, led by a surge in cement and electricity output.
- » The output recorded an annual 2.3 per cent expansion in May.
- » The sector, which comprises coal, crude oil, oil refining, natural gas, steel, cement, electricity and fertilisers, accounts for 37.9 per cent of industrial output.
Simanchala Dash appointed Private Secretary to Arun Jaitley
- » Senior IRS officer Simanchala Dash has been appointed as Private Secretary to Finance Minister Arun Jaitley by relaxing some conditions.
- » Dash, a 1988 batch Indian Revenue Service (Income Tax cadre) officer, has been appointed at the level of Director "in relaxation of the cooling off requirement as well as the ceiling of five years prescribed for working as private secretary in the entire career of an officer as a special case," said an order issued by the Department of Personnel and Training (DoPT).
- » Dash has worked as private secretary to Jaitley when he was Leader of Opposition in Rajya Sabha.
NSE, BSE to launch new 10-year bond futures on Monday
- » Leading stock exchanges NSE and BSE, today said they will begin trading in interest rate futures (IRF) with tenures of one-three months, with underlying of 10-year government bonds.
- » "Interest Rates Futures contracts based on 8.40 per cent central government security maturing on July 28, 2024 will be made available for trading with effect from Monday, August 4, 2014," the NSE and the BSE said in similar-worded circulars.
- » An IRF is generally a contract between a buyer and a seller agreeing to the future delivery of any interest-bearing asset such as government bonds.
- » The cash-settled IRFs will provide market participants with better option to hedge risks arising from fluctuations in interest rates, which depend on various factors, including RBI policy, demand for liquidity and flow of overseas funds.
Govt to Launch A New Program of Financial Inclusion in Mission Mode
- » To Provide Households with Facilities of Savings, Credit, Remittances, Insurance and Pension: FM
- » The Union Finance Minster Shri Arun Jaitley said that the Government is going to launch a new program of Financial Inclusion in Mission Mode which will provide households with facilities of savings, credit, remittances, insurance and pension among others.
- » The Financial Inclusion Mission has two phases starting from 15thAugust this year. The first phase will get over by 14thAugust, 2015 and the second Phase by 14thAugust, 2018. Most of the activities will be done in Phase - I and insurance and pension would be covered in Phase - II.
Govt looks to extend mobile banking to all types of phones: Arun Jaitley
- » The government is looking to expand mobile banking to less advanced cellphones, finance minister Arun Jaitley said on Thursday, as the National Democratic Alliance (NDA) government pushes ahead with its ambitious plan to ensure every Indian household has access to banks.
- » The Reserve Bank of India (RBI) is also in touch with various entrepreneurs to look for innovative technologies that can enable mobile banking to be used on all types of phones.
- » The government is also considering increasing the fee for banks to 2% on every transaction from 1% at present to make it more lucrative for banks to open bank accounts and transfer funds from the government to beneficiary accounts.
NOTE: All the news are extracted from Various Website. Hence Copyright is strictly theirs.
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