Current Affairs Update – 27th July, 2015

Hello and welcome to ExamPundit. Here are the Important Current Affairs of 27th July, 2015. These are Important for the 2nd Phase of the upcoming RBI Assistant Exam 2015.

Obituaries –

Ex-President APJ Abdul Kalam passes away after collapsing during lecture at IIM Shillong

  • Former President APJ Abdul Kalam, a popular President between 2002 and 2007, passed away on Monday after he collapsed during a lecture in Shillong.
  • Kalam (84) took ill at a function in Shillong and was rushed to the hospital, M Kharkrang, SP Khasi Hills, said.
  • The former President collapsed during a lecture at the Indian Institute of Management in Shillong at around 6.30 pm and was taken to the hospital. TV reports earlier said that Kalam suffered a massive cardiac arrest at the function at IIM Shillong.

Banking/Industry –

Axis Bank signs $200-million loan agreement with ADB

  • Axis Bank today signed a USD 200-million, seven-year bilateral loan agreement with the Asian Development Bank.
  • The loan will help bolster bank's efforts to improve farm efficiency by extending customised and affordable agriculture credit, that will help leverage its semi-urban and rural branch network to deliver agriculture credit, the city-headquartered lender said in a statement.
  • Axis Bank has 2,589 branches, including extension counters across 1,714 centres mostly in cities and towns.

Rajesh Exports buys Valcambi for $400 million

  • Indian gold jewellery major Rajesh Exports Ltd. (REL) announced the acquisition of Valcambi, the world’s largest integrated precious metals refiner in all-cash of USD 400 million (around Rs 2,560 crore).
  • REL has through its fully-owned subsidiary in Singapore fully acquired European Gold Refineries, the 100 per cent holding company of Valcambi in an all-cash deal.
  • Valcambi has a capacity to refine 1,600 tonnes of gold or altogether 2,000 tonnes of precious metals per annum. A statement from REL said Valcambi generated revenues in excess of USD 38 billion and operating profit of USD 33 million (Rs 205 crore) by refining and selling 945 tonnes of gold and 325 tonnes of silver on average per year for the past three years.

Pepperfry raises $100 million from Goldman Sachs, others

  • Online furniture retailer Pepperfry today said it has raised USD 100 million (about Rs 642 crore) from Goldman Sachs, Zodius Technology Fund, and existing investors Bertelsmann India Investments and Norwest Venture Partners.
  • The fourth round of funding will be used to strengthen the company's logistics, technology platform, experience centres and marketing efforts.
  • Pepperfry has previously raised about USD 28 million in three rounds.
  • Pepperfry, which has more than 2 million customers, is a furniture and home products marketplace reaching over 300 cities directly.

Appointments –

R. S. Sharma Appointed New TRAI Chairman

  • Government today appointed IT Secretary R S Sharma as new chairman of the Telecom Regulatory Authority of India.
  • Sharma, a 1978 batch IAS officer of Jharkhand cadre, has played key role in implementing Aadhaar project and designing road-map for government's Digital India programme.
  • He is credited to have designed key digital services, such as digital locker, digitize India and fast execution of schemes to push electronics manufacturing in the country.
  • The post of TRAI Chairman fell vacant on May 14 after Rahul Khullar retired from the post.
  • Sharma's appointment comes at a time when there is a debate over net neutrality and TRAI has to give its view on the same to the government.

Sports –

Team Sky cyclist Chris Froome of Britain won 102nd Tour de France

  • Chris Froome, a cyclist from Team Sky of Britain, on 26 July 2015 won 102nd Tour de France in a three-week slog of furious race around the Champs Elysees, Paris. With this, Froome became the first Briton to win the Tour de France for the second time.
  • Froome made his mark in the mountain stage to La Pierre St Martin in the 10th stage before riding defensively to leave behind Nairo Quintana Rojas, a Colombian racing cyclist, by 72 seconds. The third-place was secured by Alejandro Valverde, cyclist from Spain.
  • The Team Sky now has three victories in its pocket. The first vistory was marked by former Team Sky leader Bradley Wiggins claiming the 2012 edition, followed the two victories of Froome in 2013 and 2015. British riders now have three Tour de France victories out of the last four Grand Boucles.


Team ExamPundit


Books For 2015 Banking/Insurance Exams