Hello and welcome to exampundit . Here are the important Current Affairs for 1st August, 2016. These are important for the upcoming RBI Grade B Phase I Exam 2016.
ICICI Bank, Apollo to set up Indian asset reconstruction company
- India's biggest private lender ICICI Bank Ltd and private equity firm Apollo Global Management LLC said on Monday they would set up an asset reconstruction company in India to buy into troubled loans held by banks.
- AION Capital Management, a joint venture between units of the two financial firms, will be a third partner in the new entity, which has yet to obtain regulatory approvals, the companies said in a joint statement.
- No monetary values were disclosed, and the new asset reconstruction company will also look at buying equity stakes in companies.
- Global distressed asset buyers such as J.C. Flowers & Co and Apollo Global are flocking to India, where banks have been ordered to clean up an estimated $120 billion of bad and troubled loans.
Andhra Pradesh signs MoU with Japan to develop food value chain
- The Andhra Pradesh government on 30 July 2016 signed a Memorandum of Understanding (MoU) with Japan to develop a food value chain in the state.
- Under the MoU, Japan's Ministry of Agriculture, Forestry and Fisheries (MAFF) will encourage direct investments by Japanese companies in the fields of agriculture and food-related industry in Andhra Pradesh.
- Along with developing a food value chain, it will also establish food industrial parks and develop cold chains.
Railway Minister flags off maiden broad-gauge train service between Agartala and Delhi
- Railway Minister Suresh Prabhu on 31 July 2016 flagged off maiden broad-gauge train service between Agartala and Delhi, ‘Tripura Sundari Express’.
- The ‘Tripura Sundari Express’ will run weekly between Agartala and Anand Vihar in Delhi. It will have commercial stoppages at 16 stations and cover a distance of 2461 kms in 46 hours and 50 minutes.
- The train will reach Delhi via Guwahati and New Jappaiguri. The rail link was developed at an expense of 968 crore rupees.
- Apart from this, Prabhu along with Bangladesh Railway Minister Md. Mazibul Hoque also laid the foundation stone for Agartala-Akhaura International Rail Project. This train link would be part of the trans-Asian rail connectivity.
- The rail track here would be extended to Sabroom, the southern-most town in Tripura, which is only 75 km from the Chittagong port in Bangladesh.
Resolution to rename Madras HC as Tamil Nadu HC passed
- The Tamil Nadu Assembly on 1 August 2016 unanimously passed a resolution to rename the Madras High Court as the Tamil Nadu High Court. The resolution on the matter was moved by Chief Minister J Jayalalitha as most of the High Courts established after the formation of new states based on linguistic lines have been named after the states only.
- The resolution was presented in light of the High Courts (Alteration of Names) Bill, 2016, which was introduced in Lok Sabha on 19 July 2016.
- She said the Madras High Court has jurisdiction over the entire state and therefore it is necessary to change the name as the Tamil Nadu High Court.
Microsoft appoints Anant Maheshwari as India head
- Software major, Microsoft on Monday announced that Anant Maheshwari will take over the operations of the company from Bhaskar Pramanik. Pramanik who is currently the chairman, Microsoft India will retire in March 2017.
- Maheshwari will join Microsoft on September 1 as president, Microsoft India and will take over from January next year.
- Currently, he is president at Honeywell India. He was appointed the president of Honeywell India in January 2014, after serving various roles in the company for 10 years.
Kedar Upadhye appointed Cipla global CFO
- Cipla has appointed Kedar Upadhye as its global chief financial officer (CFO) effective today.
- Until recently, Kedar was Vice-President, Global Generics Finance, and Head of Investor Relations in Dr Reddy’s Laboratories, Cipla said in a statement.
- Prior to Dr Reddy’s, he has worked with Pepsi India and Thermax Group, it added.
Dilip Rath takes over as Chairman NDDB
- After the former IAS officer T Nanda Kumar abruptly resigned from the chairmanship of National Dairy Development Board (NDDB), the Department of Personnel and Training (DoPT), Govt of India has given Dilip Rath, Managing Director of the Dairy Board an additional charge of Chairmanship till the regular appointment.
- Rath was closely involved in project conceptualization and formulation of NDP. As the Mission Director of NDP, he is actively pursuing the project objectives, an NDDB statement said here.
- Rath brings with him a wide experience in dairy development and cooperatives. He was instrumental in implementing various schemes of the Central Government, viz., National Project on Cattle and Buffalo Breeding, Intensive Dairy Development Programme, Clean Milk Production, Assistance to Cooperatives, besides being the divisional head of 12 cattle development organizations under Central Government.
Justice DB Bhosale sworn-in as Chief Justice of Allahabad High Court
- Justice Dilip Babasaheb Bhosale was sworn-in as the Chief Justice of the Allahabad High Court on 30 July 2016. His oath of the office was administered by Uttar Pradesh Governor Ram Naik.
- The post had been vacant since May 2016 after Justice Bhosale’s predecessor, Justice DY Chandrachud, was elevated to the Supreme Court. He retired on 23 October 2018.
Tokyo elects Yuriko Koike as first female governor
- Former Japanese Defence Minister Yuriko Koike on 31 July 2016 was elected as the first woman governor of Tokyo, the capital city of Japan.
- Koike garnered more than 2.9 million votes in the election, defeating her opponents, Hiroya Masuda and Shuntaro Torigoe, by a wide margin.
Luke Aikins became first person to jump from 25000 feet without a parachute or wing suit
- Luke Aikins, a skydiver with 18000 jumps, on 30 July 2016 jumped from 25000 feet (7620 meters) without a parachute or a wingsuit.
- With this he became the first man in the world history to dive from mid-tropospheric altitude and land safely without a parachute or a wing suit or anything else that might helped him stop or slow his descent.
- 42-year-old, Aikins, completed the stunt without mishap, landing almost in the middle of the 100ft by 100ft (30.5-by-30.5-meter) net.
India to host Kabaddi World Cup in October 2016
- International Kabaddi Federation on 31 July 2016 selected India to host The 2016 Kabaddi World Cup. The World Cup featuring 12 countries is scheduled to be held in October 2016, the dates for the event will be announced later.
- Participants of the tournament include India, USA, Canada, UK, Australia, Iran, Poland, Pakistan, Bangladesh, Korea, Japan and Kenya.
- Kabaddi became a part of Asian Games in the year 1990 and India has won all the gold medals since.
Mohun Bagan Ratna conferred on Syed Nayeemuddin
- Mohun Bagan Football Club on 29 July 2016 conferred the Mohun Bagan Ratna on Syed Nayeemuddin, India’s only Dronacharya football coach.
- Nayeemuddin was chosen for the prestigious award for his overall contribution to the club and the country both as a player and as a coach.
- The former India captain became the 16th recipient of the prestigious award.
Books & Authors –
India Rising: Fresh Hope, New Fears authored by Ravi Velloor
- A book titled India Rising: Fresh Hope, New Fears by Ravi Velloor chronicles India's journey in the decade before Prime Minister Narendra Modi's rise. The book was released in April 2016 by Singapore Emeritus Senior Minister (ESM) Goh Chok Tong.
- The book captures the significant events of the years under former India Prime Minister Manmohan Singh and examines how the country dealt with those issues.
- Ravi Velloor is an associate editor of Singapore newspaper The Straits Times.