Current Affairs Update – 7th July, 2015

Hello and welcome to ExamPundit. Here are the Important Current Affairs of 7th July, 2015. These are Important for the upcoming SBI PO Mains and RBI Assistant 2015.


Finance –

IDBI-Mudra Bank sign refinance pact

  • The State-run IDBI Bank on Tuesday said it has signed an agreement with Mudra Bank for refinancing of loans given to small enterprises.
  • “As per the agreement, the Bank will offer credit facilities up to Rs 10 lakh to micro enterprises, at a competitive interest rate under Pradhan Mantri Mudra Yojana (PMMY) and Mudra will be providing refinance assistance to the bank for eligible sanctioned loan cases,” IDBI Bank said in a release.
  • The refinance scheme will be implemented through all the branches of the lender.
  • The agreement was signed on July 1 by IDBI Bank Executive Director S K V Srinivasan and Mudra Bank CEO Jiji Mammen.
  • Last week, Bank of Maharashtra had also signed an agreement with Mudra Bank for refinancing of loans given to new entrepreneurs and small businesses.



UK’s ESpark, Viridian Ventures tie up, to invest $300 mn

  • The UK-based Entrepreneurial Spark and India’s Viridian Ventures on Tuesday announced a joint venture called Viridian ESpark Accelerator to create programmes for entrepreneurship development, for which the Viridian Venture-led consortium and its partners plan to invest about $300 million (Rs 1,950 crore) in a phased manner.
  • Announcing this here, Murali Hariharan, Global Head (Venture Strategy), Viridian Group, said the accelerator had already given awards to 15 start-ups selected through a business plan contest launched during the Vibrant Gujarat Summit 2015. Of the over 140 entries received from across India, 23 applicants were also shortlisted to be a part of the Accelerator Programme, to be launched in Ahmedabad in August. Selected candidates would be considered for seed funding of around Rs. 1 crore from Viridian Ventures.
  • Similar accelerator programmes would be launched in Noida and Delhi-NCR by the year-end. In the next three years, these programmes would be expanded to Bengaluru, Pune, Mumbai, Hyderabad, Kochi, Chennai, Chandigarh and Kolkata.



PM Visits –

India, Uzbekistan released Joint Statement to intensify security cooperation, exchanges


  • India and Uzbekistan on 6 July 2015 released a Joint Statement (JS) to intensify security cooperation and exchanges. The JS was released during Prime Minister Narendra Modi’s official visit to Uzbekistan from 6 July to 7 July 2015. He visited Uzbekistan on the invitation of the President of Uzbekistan Islam Karimov.
  • PM Modi is on an eight-day visit to five Central Asian states, Kazakhstan, Kyrgyzstan, Uzbekistan, Tajikistan and Turkmenistan from 6 July to 13 July 2015. During the journey, he will also visit Russia to attend BRICS summit and SCO summit at Ufa on 9 July and 10 July 2015.


Details of the Joint Statement
  • The two sides agreed to maintain regular bilateral consultations and political dialogue to promote mutual understanding on bilateral as well as regional and international issues.
  • The two sides expressed their intention to strengthen coordination between the law enforcement agencies and special services of the two countries under the framework of the Uzbekistan-India Joint Working Group on Counter-Terrorism.
  • They also agreed to expand cooperation in the fields of defence and cyber-security.
  • The two sides agreed to take joint measures to expand and diversify the bilateral trade through facilitating participation in exhibitions, trade fairs, business forums and other joint business activities in Uzbekistan and India.
  • They called for partnership in creating favorable conditions for investment by Indian companies in Uzbekistan, including in the framework of the Special Economic Zones "Navoi", "Angren" and "Jizzakh".
  • They agreed to further develop mutually beneficial cooperation in transport & communication and agreed to explore various options to enhance surface connectivity between them.
  • They agreed on the proposal to set up telemedicine links connecting medical institutions in Uzbekistan and India for medical consultations, exchange of experiences and teleconferences.
  • A new Programme of Cultural Cooperation for the period 2015-2017 was inked and the two sides called for its full and timely implementation to expand cultural exchanges.
  • The two sides agreed to implement practical measures under the framework of the bilateral Agreement on cooperation in tourism was signed during the visit.
  • Both the sides called for comprehensive reforms of the UN structures, first of all, its Security Council, including expansion in both categories of membership. Uzbekistan reaffirmed its support to India’s candidature for permanent membership of the UN Security Council.
  • They agreed to further strengthen mutual cooperation under the framework of the Shanghai Cooperation Organization (SCO).



India –

Japan’s SoftBank to set up 20 GW solar plant in A.P.


  • Japanese multinational telecom company, SoftBank has expressed its readiness to establish an ambitious 20 Gigawatt solar power plant in Andhra Pradesh.
  • As part of ‘Make in India’ initiative, SoftBank will take up manufacturing of solar panels in the State.
  • Besides offering financial assistance for the proposed university on non-conventional energy resources, SoftBank also came forward to provide scholarships to engineering students who specialise in solar energy.
  • This was the outcome during a meeting Andhra Pradesh Chief Minster N. Chandrababu Naidu, who is currently touring Japan, had with SoftBank Chairman Masayoshi Son on Tuesday morning.
  • Meanwhile, Japanese Minister for Trade and Industry Yoichi Miyazawa said that Japanese companies were interested in participating in the development of the new capital city of Andhra Pradesh. During his interaction with the delegation led by Mr. Naidu, he said that Japanese firms would be seeking equity participation with the organisation involved in constructing the new capital.



Delhi Leads in Construction of Public Toilets

  • Delhi has built the highest number of community and public toilets under Swachh Bharat Mission, followed by Chhattisgarh and Maharashtra, while Gujarat topped in the individual household category.
  • Delhi has completed construction of 5,776 community and public toilet seats since the launch of the mission in October last year, followed by Chhattisgarh (3,570), Maharashtra (2,520), Chandigarh (2,424) and Karnataka (1,680).
  • These five states and Union Territories accounted for 86 per cent of the total number of public toilets constructed so far.
  • The government aims to build over 5 lakh community and public toilet seats under the mission and the Urban Development Ministry has sanctioned 82,438 so far.
  • On construction of household toilets, Gujarat tops the chart with 2,64,331 such facilities, followed by Madhya Pradesh (99,151). These two states together account for 94 per cent of the total 3.83 lakh individual household toilets built under the scheme so far, followed by Andhra Pradesh, Karnataka, Punjab and Maharashtra.
  • Applications have been received from the states and Union Territories for construction of 30,41,097 individual household toilets as against the target of one crore such lavatories by 2019 and the Urban Development Ministry has sanctioned 13,64,814 toilets.



ICRISAT unveils $300 phablet for farmers


  • Farmers now can have customised tips on their phablet on the kind of agricultural inputs they might require for their field.
  • Based on the specific soil health of their small chunks of lands, scientists at the International Crops Research Institute for Semi-Arid Tropics (ICRISAT) and Government of Telangana would send timely messages to the farmers through the phablet.
  • Phablet is a smart device bigger than a phone but smaller than a tablet.
  • The Hyderabad-headquartered ICRISAT launched the Green Phablet, priced at $300 (about Rs. 18,600), for farmers in Telangana.
  • The institute would maintain servers to safe keep the information. And even if a user loses his device, he would be able to get back the information in no time.
  • ICRISAT Director-General David Bergvinson signed a tripartite agreement on Tuesday with the Departments of Agriculture and Information Technology to collaborate in transforming agriculture using digital technologies.



President inaugurated Nakshatra Vatika at Rashtrapati Nilayam Gardens

  • President Pranab Mukherjee on 6 July 2015 inaugurated Nakshatra Vatika at his official Rashtrapati Nilayam Gardens in Bolarum, Secunderabad. The vatika (garden) has plants representing planets, zodiac signs and stars.
  • The layout of ‘Nakshatra Vatika’ has been developed in various geometrical combinations corresponding to the Sree Chakra of Vedic astrology on a 0.91 acre plot.



Appointments –

R.K. Dutta is CBI Special Director


  • Rupak Kumar Dutta, an IPS Officer of 1981 Batch (Karnataka Cadre), took over as Special Director in the CBI, New Delhi.
  • Prior to his appointment as a Special Director, he was holding the post of Additional Director in the CBI and looking after the Anti Corruption (HQ) Zone, Patna Zone, Hyderabad Zone, Chennai Zone, Economic Offences Zone-I, Bank Securities and Frauds Zone and Delhi Zone, a release said.



China nominated Jin Liqun, former Chinese Finance Minster, for the post of AIIB President


  • Former Finance Minster of China Jin Liqun was in news as on 6 July 2015 he was nominated by China to be the first president of the Beijing-backed Asian Infrastructure Investment Bank (AIIB).
  • At present, Jin (65) is Secretary General of AIIB's interim secretariat. Earlier, he has held positions at the World Bank and was the first Chinese national to serve as a vice president at the Japan-controlled Asian Development Bank (ADB).
  • During his 5-year-long tenure at ADB, Jin headed its programmes for South, Central and West Asia and private sector operations.



Ex-Vodafone global CEO Arun Sarin joins Ola board


  • In one of the major board appointments by the Indian start-ups, taxi hailing services provider Ola has roped in former Vodafone global CEO Arun Sarin as an Independent Director.
  • Mr. Sarin, in his capacity as an Independent Director will contribute in an advisory role to Ola’s overall business strategy that will further drive growth and leadership in the market.
  • Earlier, last week Chairman Emeritus of Tata Sons, Ratan Tata has acquired stake in Ola and the company had claimed it as a huge endorsement
  • The key appointment of Mr. Sarin comes at a time when Indian taxi hailing services provider like Ola and its subsidiary Taxi For Sure are facing tough competition from rival Uber. Recently, Uber has announced its entry into seven more cities in India. Now with presence in around 18 cities, India has become the largest geographical market for the Uber after the US.



World –

USA, Brazil issued Joint Statement on Climate Change

  • Presidents of the United States of America and Brazil Barack Obama and Dilma Dilma Rousseff respectively on 30 June 2015 issued a joint statement on climate change in Washington, the USA.
  • The joint statement includes individual commitments towards reducing green house gas (GHG) emissions and bilateral mechanisms to protect the planet from the adverse effects of climate change.
  • Takeaways from the joint statement on climate change
  • The USA and Brazil each intend to increase the share of renewables – beyond hydropower – in their respective electricity generation mixes to the level of 20 percent by 2030. This means the USA and Brazil will need to triple and double, respectively, their share of renewable energy in the next 15 years.
  • The USA will reduce GHG emissions by 26 percent to 28 percent below 2005 levels in 2025. 
  • Brazil intends to restore and reforest 12 million hectares of forests by 2030.
  • Both the countries agreed to work multilaterally in the Montreal Protocol to consider promptly amendment proposals to phase down HFCs.


Sports –

Indian captain Mithali Raj becomes second woman to score 5000 ODI runs


  • A captain's knock by Mithali Raj in the ongoing ODI series against New Zealand women enabled the Indian team to register a comfortable eight-wicket victory in the fourth ODI. India levelled the five-match series 2-2.
  •  
  • Mithali's stylish unbeaten knock of 81 was the cornerstone of India successful chase of 221 in only 44.2 overs.
  • In the course of her innings, Mithali Raj made history. Mithali became the first Indian and second in women's ODI history to complete 5000 runs after England's Charlotte Edwards.
  • The 32-year old from Jodhpur is no stranger to record books, too. Very few can forget the memorable double-century she scored in England. Her majestic 214 in Taunton back in 1999, when she was a mere 19-year-old, was then the world record for the highest individual score in Women's Test cricket.



Flyod Mayweather stripped of title he won in Pacquiao fight


  • Floyd Mayweather Jr. has been stripped of the welterweight world title he won after beating Filipino Manny Pacquiao in May for failing to comply with rules, the World Boxing Organization (WBO) said on Monday.
  • Mayweather missed a deadline by which he had to pay a $200,000 sanctioning fee from the fight and vacate the junior middleweight title he also held, the WBO said in a statement.
  • The WBO said it is against rules for boxers to hold world titles in multiple weight classes and that Mayweather had to indicate, which weight division he would retain.



Books & Authors –

37 Bridges authored by Aamer Hussein

  • Book 37 Bridges and Other Stories authored by a noted Pakistani author Aamer Hussein book is a new collection of his stories. The book was released on 15 March 2015.
  • The author through the book highlights the matter of identity with respect to both the Hindu and Muslim. Further, the book identifies itself with Hussein’s identity who is a British citizen born to a Pakistani father and an Indian mother both of whom later settled in Britain.




Regards



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