Daily Current Affairs – 3 August 2016


— Current Affairs : 3 Aug 2016 —

Daily | Current Affair Updates | 7-Minute-Read | By-Raksha | PDF Version

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– Four-member panel to interact with Lodha committee

  • In an attempt to resolve the complexities arising out of the Supreme Court verdict, the Board of Control for Cricket in India (BCCI) has appointed a four-member panel, comprising eminent lawyers, which will interact with the Supreme Court-appointed Justice R.M. Lodha committee.
  • The decision to appoint a panel, which will be headed by Retd. Justice Markandey Katju, was taken by the BCCI working committee during its meeting. It was the first meeting of the governing body after last month’s Supreme Court judgement.

– West Bengal may be renamed Bengal

  • There have been many name changes in Bengal; Park Street was renamed Mother Teresa Sarani; Mayfair Road became Bhagat Singh Sarani, and more recently Lee Road was renamed Satyajt Ray Dharani.
  • But among all the renames, the one that makes sense is dropping ‘West’ from West Bengal. The Cabinet has cleared changing the name of West Bengal to Bengal in English, and Bangla or Banga in Bengali.

– Rajya Sabha passes NEET, NIT bills

  • The Rajya Sabha passed by voice vote the Indian Medical Council (Amendment) Bill, 2016, and the Dentists (Amendment) Bill, 2016, that provide for putting the NEET in place for admission to medical and dental courses across the country from next year.
  • The bills provide for a Constitutional status to the ‘National Eligibility-cum-Entrance Test (NEET) and seek to amend the Indian Medical Council Act, 1956, and the Dentists Act, 1948.
  • Responding to a debate on the bills in the Rajya Sabha, Minister of Health and Family Welfare Jagat Prakash Nadda said the whole exercise was aimed to stop multiplicity of examinations, to bring transparency to curb corruption and to stop exploitation of students.

– Indian art and culture to be on full display during first ever Festival of India in Australia

  • The four-month festival beginning this month will continue till November in seven cities in Australia.
  • It will present some of the finest elements of India’s classical and contemporary culture to a variety of dance, music, theatre, visual arts and textiles.
  • The festival is being organized by the Ministry of Culture with the support of Indian Council for Cultural Relations and India Tourism.
  • The Festival is coordinated by the High Commission of India in Australia. Culture and Tourism Minister Mahesh Sharma gave this information in the Rajya Sabha today.

– Over 25 lakh LPG connections released under PM Ujjwala Yojana

  • Over 25 lakh LPG connections have been released to women of BPL families under the Pradhan Mantri Ujjwala Yojana.
  • The scheme which was launched in May this year is currently under operation in 553 districts of 24 States. 5 crore LPG connections will be provided to BPL families in the next 3 years under the scheme.
  • Ministry of Petroleum and Natural Gas in a release said, the official website of the scheme – www.pmujjwalayojana.com – contains the details about the scheme and the form to be filled by the intended beneficiaries.
  • General public and other stakeholders have been asked to consult only the official website for any information regarding to the scheme. In case of any doubt or clarification, people can contact on the toll free number 18002666696.

– Haryana: Monthly honorarium of ASHAs doubled from Rs 500 to 1,000

  • In Haryana, the monthly honorarium of Accredited Social Health Activists, ASHAs has been doubled from 500 rupees to 1,000 rupees.
  • Giving this information, Health Minister Anil Vij today said, an additional amount of 41.73 crore rupees has been approved on account of honorarium for ASHAs and incentives of Auxiliary Nurse Midwives (ANMs).
  • Haryana Chief Minister Manohar Lal has approved a proposal to this effect under comprehensive incentive package to encourage ASHAs or ANMs.

– 3,000 Jan Aushadhi Stores to be opened across India

  • Under Pradhan Mantri Jan Aushadhi Yojana (PMJAY), the central government will open 3,000 Jan Aushadhi Stores (JAS) pan India by the end of this fiscal to make quality drugs available at affordable prices, parliament was told on Tuesday.
  • In order to open JAS proposed within government hospital premises, a one-time financial assistance is provided to the extent of Rs 2.50 lakh and the margin available for the retailers is 20 per cent so as to ensure a reasonable level of profitability for them



– Typhoon Nidha causes disruptions in China

  • In China, typhoon Nida, which made landfall at Dapeng Peninsula in the city of Shenzhen, has caused direct economic losses estimated at 288 million yuan.
  • Nida brought strong winds and rain to the eastern part of Guangdong Province and the Pearl River Delta region yesterday.
  • The provincial meteorological station said that about 22,000 people were evacuated as the typhoon destroyed 4,860 hectares of crops and damaged 485 houses.
  • This is the strongest typhoon to hit the Pearl River Delta since 1983.

– Japan approves new economic stimulus package

  • Japan’s Cabinet approved a fresh economic stimulus package on Tuesday worth more than 28 trillion yen ($275 billion), Prime Minister Shinzo Abe’s latest effort to get the stalling recovery back on track.
  • Abe called the package, part of a supplementary budget for the parliament to approve in an extraordinary session starting in September, “an investment for the future.”
  • Decision in this regard was Japanese Cabinet meeting chaired by Prime Minister Shinzo Abe in Tokyo. The Japanese government expects that this package will boost gross domestic product (GDP) by 1.3%.

– 7th meeting of SAARC Immigration Authorities held in Islamabad

  • The seventh meeting of South Asian Association for Regional Cooperation (SAARC) Immigration Authorities was held in Islamabad, Pakistan.
  • Pakistan’s Director General Immigration and Passports Usman A. Bajwa was unanimously elected as Chairman had chaired the meeting.
  • Key Highlights of meeting
  • It reviewed different areas to maximize the potential of visa exemption scheme launched among the member countries in 1992.
  • It also deliberated on development of security software for SAARC visa exemption scheme (SVES) and immigration matters.
  • This software would help to transform the existing manual system of the scheme into an online visa application system.
  • It will have a central database that will provide all member states with real-time and secure information.



– PSBs need Rs 2.5 lakh crore capital infusion over next 3 years, says S&P Global Ratings

  • International rating agency S&P Global Ratings on Tuesday said that Indian state-run banks will need Rs 2.5 lakh crore capital infusion over the next three years to meet Basel-III requirements.
  • According to International rating agency S&P Global Ratings:
  • Indian state-run banks will need Rs 2.5 lakh crores capital infusion over the next three years to meet Basel-III requirements.
  • The banks, which are mired (banks involve a difficult situation) in high levels of stressed assets, cannot raise the money from the markets and will have to depend on the government for the infusion.
  • The banks will be reporting non- performing assets of around 8.5 per cent
  • The overall stress stands at up to 13 per cent and the troubles surrounding NPAs will continue at least for a year.

– Canara HSBC OBC Life launches iNVESTSHIELD plan

  • Canara HSBC Oriental Bank of Commerce Life Insurance has launched a new linked insurance product ‘iNVESTSHIELD’ that aims to protect and meet an individual’s present and future financial needs.
  • This is an online linked plan with ‘Premium Funding’ option whereby in the event of the life insured’s death —  in addition to the immediate benefit payout (higher of Sum Assured or 105% premium paid), the insurer funds the remaining premiums for the remaining policy term  and the fund value is also paid on maturity.

– Indian Bank to raise Rs 1,000 cr via bonds

  • Indian Bank will raise up to Rs 1,000 crore by issuing Basel III-compliant bonds.
  • The company will raise the amount by issuing bonds in one or more tranches in the current or subsequent years based on the requirement.
  • Basel-III norms are global regulatory set of standards aimed to reform, improve regulation, supervision and risk management within the banking sector.
  • It requires a tighter capital requirement, wherein a bank’s regulatory capital is divided into tier-1 and tier-2. Tier 1 is subdivided into common equity tier-1 and additional tier-1 (AT 1) capital.
  • Banks in India have been implementing Basel III capital standards since April 2013 in a phased manner. They are required to comply with them fully by March 2019.



– Country’s infrastructure sector grows 5.2% in June

  • The country’s infrastructure sector grew 5.2 per cent in June this year–the fastest in two months–on the back of double-digit growth in the coal and cement sectors. The eight infrastructure sectors had expanded 3.1 per cent in June last year, and 2.8 per cent in May this year.
  • According to official data released, coal production surged 12 per cent in June this year, cement production increased 10.3 per cent, fertilizer production rose 9.8 per cent, and petroleum refinery production expanded 3.5 per cent during the month.
  • Electricity generation grew 8.1 per cent, and steel output rose 2.4 per cent in June. But natural gas output declined 4.5 per cent and crude oil production fell 4.3 per cent in June.

– BHEL commissions 500MW Marwa Thermal Power station in Chhattisgarh

  • State-run BHEL has commissioned the second 500 MW thermal unit at Marwa Thermal Power Station in Chhattisgarh.
  • Located in Janjgir-Champa district of Chhattisgarh, Marwa TPS has been set up by Chhattisgarh State Power Generation Company (CSPGCL).

– Last date of filing IT return extended upto 5th Aug

  • The last date of filing Income Tax returns has been extended till the 5th of next month.
  • Revenue Secretary Dr Hasmukh Adhia said in a tweet that the decision was taken in view of day-long strike at public sector banks.
  • Mr Adhia said, the last date for assessees in Jammu and Kashmir will be 31st of next month in view of the ongoing situation in the state.
  • Tax returns for 2015-16 were originally to be filed by the 31st of this month.

– Carnival Cinemas partners with Zicom to provide electronic security to moviegoers

  • Pan-India multiplex chain Carnival Cinemas announced a strategic tie-up with a Mumbai-based electronic security provider Zicom Electronic Security Systems Ltd (‘Zicom’).
  • Under the agreement Carnival Cinemas will now be equipped with complete electronic security cover to at all its 324 screens spread across 118 locations in 89 cities.
  • The electronic security cover will be provided by Zicom and will consist of complete surveillance systems like installation of CCTVs and upgradation of existing systems.



– Prachanda elected as Nepal PM

  • In Nepal, Pushpa Kamal Dahal ‘Prachanda’ has been elected as Prime Minister today.
  • Earlier, Prime Minister K P Oli resigned on July 24, triggering a political turmoil in Nepal.
  • Oli tendered his resignation after two key ruling alliance partners – Madhesi People’s Rights Forum-Democratic and Rastriya Prajatantra Party – decided to support the no-confidence motion tabled against him by the Nepali Congress and the CPN-Maoist Centre led by ‘Prachanda’.

– Nimesh Kampani steps down as MD of JM Financial

  • Well-known investment banker and a market veteran Nimesh Kampani, who is currently the managing director of JM Financial Ltd has voluntarily announced his decision to step down from the executive role of the company with effect from September 30 on his attaining 70 years of age and as a part of succession planning at the company.
  • According to a statement issued to the stock exchanges, Mr. Kampani will continue to be the non-executive chairman of the company as well as of the group and will also continue to be a director on the board of a few group companies at JM Financial.



– Artist Anita Gopalan gets PEN/Heim grant

  • Translator and artist Anita Gopalan has been awarded the 2016 PEN/Heim Translation Fund Grant for her English translation of Hindi novel “Simsim” by Geet Chaturvedi.
  • Ms. Gopalan, who is based in Bengaluru, is the second Indian translator to be selected for the grant. PEN America is a renowned literary organisation of the United States.It announced the grantees on Thursday.



– ISRO all set to launch IIT-B’s satellite ‘Pratham’ from Sriharikota space centre in September

  • IIT-B’s starry dreams will finally take off next month, after a nine-year wait.
  • The institute’s 10kg student satellite, Pratham, will be launched by Isro’s four-stage Polar Satellite Launch Vehicle (PSLV) at the Satish Dhawan Space Centre, Sriharikota in September.
  • Pratham will piggy back with Isro’s main satellite, ScatSat, and few other satellites. Pratham, first conceived in 2007, was dogged by delays for a variety of reasons, upsetting its launch schedule.



– Swiss tennis star Wawrinka drops out of Rio Olympics

  • World number four Stan Wawrinka became the second high profile Swiss tennis player to quit the Rio Olympic Games, the Swiss Tennis Federation announced yesterday.
  • Wawrinka dropped out of the Games which open on Friday with a back injury after 17-time Grand Slam winner Roger Federer withdrew with a knee injury last Tuesday and announced he would not play again in 2016.
  • Double Grand Slam winner Wawrinka won a gold medal in men’s doubles with Federer at Beijing 2008 Olympic Games.

– United World Wrestling clears Narsingh Yadav’s name to participate in Rio Olympic

  • United World Wrestling has cleared the name of wrestler Narsingh Yadav to participate in the Rio Olympics.
  • Wrestling Federation of India President Brij Bhushan Sharan Singh informed this while talking to reporters outside Parliament today.
  • Two days back, the National Anti-Doping Agency had exonerated  Narsingh Yadav from any violation of anti- dope norms.

– ‘Wall of Wishes’ inaugurated to celebrate Olympic mood

  • Union Minister of State (I/ C) for Youth Affairs & Sports Shri Vijay Goel here today inaugurated ‘Wall of Wishes’ at India Gate Lawns, Near Hyderabad House in the gracious presence of Renowned Boxer and Olympian Ms Mary C. Kom to celebrate the Olympic mood in the country.
  • He also launched Digital Campaign for general public to wish Indian Olympic Contingent their best for the Rio Games.
  • This comes after the RUN FOR RIO organized by the Ministry of Sports and Youth Affairs to connect public at large, especially children and youth, with the Olympic spirit and power of sports. This year India is sending its largest ever contingent to participate in the Rio Games



– Nobel Prize-winning Egyptian chemist Ahmed Zewail passes away

  • The Egyptian-born Nobel-winning scientist Ahmed Zewail has died in the United States. He was 70.
  • Mr Zewail won the Nobel Chemistry Prize in 1999 for his pioneering work in femtochemistry, the study of chemical reactions in ultra-short time scales.
  • A professor at the California Institute of Technology, he was a Science Advisor to President Obama and the first Arab Scientist to win the Nobel Prize.


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