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Tuesday, August 04, 2015

Current Affairs Update – 4th August, 2015

Hello and welcome to ExamPundit. Here are the Important Current Affairs of 4th August, 2015. These are important for the upcoming IBPS RRB Exam 2015.

Finance/RBI –

RBI keeps key rates unchanged

  • The Reserve Bank of India on Tuesday kept its policy rates unchanged.
  • The repo rate will continue to be at 7.25 per cent and the cash reserve ratio will remain 4 per cent.
  • Mr. Rajan said significant uncertainty on the factors influencing the monetary policy will be resolved in the coming months, including persistence of high inflation, monsoon as well as actions by the US Federal Reserve.
  • He reiterated that the accommodative stance of the RBI adopted this year was based on factors like transmission of RBI cuts by banks into their lending rates, food prices and monsoon, action from the government on the supply side and signs of normalisation in the U.S.
  • The RBI also retained growth target at 7.6 per cent for 2015-16.

NTPC signs JV with Jharkhand for Patratu Power Plant

  • NTPC has signed an agreement with Jharkhand government and state utility Jharkhand Bijli Vitran Nigam Limited (JBVNL) to form a joint venture company that will help optimise utilisation of assets, improve performance and expand capacity of Patratu Thermal Power Station in Ramgarh district.
  • In a statement on July 31, state-run NTPC said it will hold 74 per cent share in the JV while JBVNL will have the rest 26 per cent.
  • This initiative will help Jharkhand work towards meeting its ambitious target of providing power round-the-clock to households and adequate power to farmers in the state in association with NTPC, India's largest power producer.
  • The JV company will work to improve performance of the existing power station to gradually provide more power to the state and build an efficient super critical project of 4,000 mw in two phases under NTPC's guidance.

Ola shuts TaxiForSure in 22 cities

  • Cab aggregator Ola is shutting operations of its subsidiary TaxiForSure (TFS) in around 22 smaller cities. The company will migrate all TFS users in cities including Kochi, Trivandrum, Coimbatore, Tiruchi, Madurai among others.
  • TFS will continue to operate in all major metros and some smaller towns. This was announced by TFS in a blog post on Monday.
  • The move from Ola comes five months after it acquired the Bengaluru-based rival for around $200 million in a cash and stock deal. Many industry analysts had termed the move as a consolidation strategy in the fledgling online taxi services industry.

SEBI slaps Rs 35 lakh fine on Monarch Research & Brokerage

  • Capital markets regulator SEBI has imposed a penalty of Rs 35 lakh on Monarch Research & Brokerage failing to check fictitious trade in Sky Industries Ltd’s stock.
  • The Securities and Exchange Board of India (SEBI) found that Monarch allowed its clients to execute fictitious trades through it.
  • A Sebi probe found Monarch acted as both broker and counterparty broker for shares traded between one Vijay Vora and his wife Hina Vora.
  • In a separate order, SEBI has penalised Rs 2 Lakh on Steel Exchange India for allegedly failing to redress investors grievances within the prescribed timeline.
  • According to norms, every listed company is required to resolve the investors’ complaints within 30 day from the receipt of the complaint in SEBI’s complaints Redress System (SCORES) and submit Action Taken Reports.

Appointments –

Tenure of ED Chief Rajan S Katoch extended for third time

  • Senior IAS officer Rajan S Katoch was given yet another extension as the Chief of the Enforcement Directorate (ED) by the government today.
  • An order issued by the Apppointments Committee of the Cabinet (ACC), headed by Prime Minister Narendra Modi, said the government has "approved continuation" of the additional charge of Katoch in ED for three more months beyond July 31, which is till October 31.
  • This is the third extension being given to the 1979-batch IAS officer in the post.
  • Katoch is handling the top ED charge in an additional capacity since August 2014 after he was promoted and appointed as the Heavy Industries Secretary. Upon his elevation, he was asked to hold the ED Director's charge till January 2015 after which he was given an extension to continue on the post till April 30.
  • The ED Chief's post is an Additional Secretary-rank position in the Union government.
  • The agency is mandated to enforce two of the most stringent laws in the country -- the Prevention of Money Laundering Act (PMLA) and Foreign Exchange Management Act (FEMA) to check black money and hawala trade cases.

Bharti Airtel appoints Nilanjan Roy as Global CFO

  • Telecom major Bharti Airtel on Tuesday announced top level reshuffle, where it has appointed Nilanjan Roy as Global Chief Financial Officer.
  • Roy succeeds Srikanth Balachandran, who is being appointed as the Global Chief Human Resources Officer, Bharti Airtel said in a statement.
  • Balachandran had been the Global CFO of Bharti Airtel since April, 2011.
  • Previously, Roy held the roles of Financial Controller and Controller – India Mobile Business, it said.
  • Besides, the company has also appointed Rajiv Mathrani as Chief Brand Officer.
  • Mathrani joins Airtel from Pepsico where he led the snacks category and portfolio strategy for Lay’s, Kurkure, Uncle Chipps and Cheetos.
  • He has also been associated with companies like Marico Industries, Citibank and GlaxoSmithKline Consumer Healthcare.

Iqbal Ahmed Ansari appointed as Acting Chief Justice of Patna High Court

  • Justice Iqbal Ahmed Ansari was on 3 August 2015 appointed as Acting Chief Justice of Patna High Court. Ansari is a senior-most Judge of Patna High Court.
  • Ansari was appointed by President Pranab Mukherjee under article 223 of the Constitution of India with effect from 1 August 2015. Ansari succeeded Justice Lingala Narasimha Reddy, Chief Justice of Patna High Court, who retired on 1 August 2015.
  • In his career, Ansari has worked as a District & Sessions Judge as well. In June 1999, he joined Gauhati High Court Registry and at the time of his elevation, he was Registrar General of Gauhati High Court. He also underwent training on the subject of Gender and Law at Warwick University in UK.

Roland S Folger appointed as CEO and MD of Mercedes-Benz India

  • Roland S Folger was on 3 August 2015 appointed as the Managing Director (MD) and Chief Executive Officer (CEO) of Mercedes-Benz India with effect from 1 October 2015. He will succeed Eberhard Kern, who will now head company’s operations in Europe.
  • Currently, Roland S Folger is the President and CEO of Mercedes-Benz Malaysia. He has been with Mercedes-Benz for over thirty years. He has also headed the Sales Department for Mercedes-Benz passenger cars and commercial vehicles with responsibility for the Southeast region.

Sports –

Ultimate Frisbee recognized by International Olympic Committee

  • The International Olympic Committee officially recognized the World Flying Disc Federation on Sunday, creating the opportunity for the organization to receive IOC funding and potential inclusion in the Olympic Games. ​
  • The WFDF is the international governing body for several disc sports, most notably Ultimate Frisbee, a team game developed in the United States. The WFDF also governs Beach Ultimate, disc golf and disciplines.
  • There are two semi-professional Ultimate leagues in the U.S.—the American Ultimate Disc League and Major Leauge Ultimate.
  • While Ultimate is now eligible to be included in the Olympics, it must compete against a wide range of more established sports for inclusion in the program.

Some of the terms related to Ultimate Frisbee:
  1. Force
  2. Wedge
  3. Cup
  4. Wall
  5. Electric Slide
  6. Vertical stack
  7. Horizontal Stack

S Africa's Van der Burgh Breaks 50m Breaststroke Swimming World Record

  • South Africa's Cameron van der Burgh broke the 50m breaststroke world record in today morning's heats at the world swimming championships as his battle with Britain's Adam Peaty resumed.
  • Van der Burgh, who is defending his title, clocked an official time of 26.62sec to shave 0.05sec off his own record he set at the 2009 championships in the era when the performance-enhancing neoprene suits were still permitted.
  • Peaty had swum exactly 26.62sec at the European championships in Berlin last August, but his time has still not been ratified by swimming's governing body FINA.
  • Van der Burgh, the Olympic 100m champion, lost out to Peaty on the wall in Monday's world championship final over the same distance.
  • The rivals are set to battle again over the shorter distance in Tuesday night's semi and Wednesday's final.

Dipa Karmakar won bronze medal at 6th Senior ART Gymnastics Asian Championships

  • Ace Indian gymnast Dipa Karmakar on 3 August 2015 clinched the women's vault bronze medal at the 6th Senior ART Gymnastics Asian Championships at Hiroshima, Japan.
  • Dipa, who won a bronze in the 2014 Commonwealth Games in Glasgow, stood third at the podium with 14.725 points.
  • Chinese Yan Wang defended her title with 14.988 points followed by Japanese Sae Miyakawa with 14.812 points.

Awards & Honors –

Hindi litterateur Kashinath Singh chosen for Bharat Bharti literary award 2014

  • Hindi litterateur Kashinath Singh was on 3 August 2015 chosen for the Uttar Pradesh's highest literary award Bharat Bharti for the year 2014. The award is given by UP Hindi Sansthan every year. It carries a cash prize of 5 lakh rupees.
  • Singh has penned many novels and short stories. One of his most famous novel is Kashi ka Assi, which captures the vibrant hues of Banaras.
  • Besides Singh, several other writers were also selected in various categories by a committee set up by Hindi Sansthaan.

Some of these prominent awardees were:
  • Mridula Garg for Lohia Sahitya category
  • Vinod Kumar Shukla for Hindi Gaurav category
  • Krishna Bihari Mishra for Mahatama Gandhi Sahitya Samman
  • Abhiraj Rajendra Mishra for Deendayal Upadhaya Sahitya Samman
  • Ramkrishna Rajput for Avantibai Sahitya Samman

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