Current Affairs Update – 1st August, 2015

Hello and welcome to ExamPundit. Here are the Important Current Affairs of 1st August, 2015. These are Important for the upcoming IBPS RRB Officer Scale I and Office Assistant Exam.

Centre to pump Rs.
70,000 cr. into PSU banks

  • The Modi government on Friday announced a big-bucks boost to
    investments in the economy. Union Finance Minister Arun Jaitley told Parliament
    that the Centre will over the next four years infuse Rs.70,000 crore out of
    budgetary allocations into state-owned banks.
  • Later, Minister of State for Finance Jayant Sinha told
    reporters that the proposed National Investment and Infrastructure Fund (NIIF)
    that the Union Cabinet had approved on Wednesday will make equity investments
    of Rs. 20,000 crore every year in commercially viable long gestation projects
    which will help to kick-start the economy.
  • The Centre will own 49 per cent of this new Mumbai-based
    fund, which won’t be answerable to Parliament nor audited by the CAG. It will
    be run on a commercialbasis by managers, who will be paid globally competitive
  • Of the Rs. 70,000 crore planned to be infused out of
    budgetary allocations into state-owned banks over the next four years, as much
    as Rs. 25,000 crore will be provided to public sector banks this year itself,
    Union Finance Minister Arun Jaitley told Parliament on Friday.

Thomas Cook India
acquires Sri Lankan travel firm Luxe Asia
  • Thomas Cook (India) Ltd. has acquired Sri Lanka-based
    destination management company Luxe Asia through its wholly-owned subsidiary
    Thomas Cook Lanka (Pvt.) Ltd. for an unspecified amount. The company will be
    operated as an independent entity.
  • Thomas Cook (India) is a part of Canadian Investor of Indian
    origin Prem Watsa led Fairfax Financial Holdings.
  • Based in Sri Lanka, Luxe Asia is focussed on inbound tourism
    from key global markets and services both tour operator and traveller segments
    across its ten destinations in the Indian Ocean Region and Asia.
  • Meanwhile, Thomas Cook (India) has entered into a marketing
    alliance with home shopping network SHOP CJ Network Pvt. Ltd. to promote its
    ‘Holiday Savings Account’, a holiday solution for India’s middle class

Kochi gets India’s
first harbour defence system

  • The naval harbour here has become the first in the country
    to get a top-notch defence system — which will enable operators to foresee, and
    respond to, surface and sub-surface threats to vital assets along the harbour
    and warships in the quay.
  • the Integrated Underwater Harbour Defence and Surveillance
    System (IUHDSS), a state-of-the-art automated system capable of detecting,
    identifying, tracking and generating warning for surface and underwater
    threats, was commissioned by Vice-Admiral Sunil Lanba, Flag Officer
    Commanding-in-Chief of the Southern Naval Command.
  • The system, comprising a cluster of coastal surveillance
    radars, high-power underwater sensors and diver detection sonars, was designed
    by Israeli Aerospace Industries (IAI) ELTA.
  • Besides Kochi, naval harbours at Mumbai, Visakhapatnam and
    Port Blair are slated to be equipped with the system as a force protection
    measure. The multi-agency Joint Operations Centre (JOC), set up at these places
    to coordinate coastal security operations, will receive real-time images
    relayed by these sensors and the command and control of the operations launched
    in response to threats will vest with the coastal defence Commanders-in-Chief –
    Flag Officers Commanding-in-Chief of the three naval commands and the
    Commander-in-Chief of the Andaman and Nicobar joint services command.
  • The project is said to cost around Rs 270 crore, said

Ved Prakash Mahawar
takes charge as Director (Onshore) at ONGC
  • Public sector oil exploration and production company ONGC
    announced that Ved Prakash Mahawar had joined the board of directors as
    Director (Onshore) on Saturday. Mahawar will directly look after all onshore
    operations across the country.
  • With 33 years of experience in managing drilling and
    operation functions, Mahawar was earlier the OSD (Onshore) at New Delhi. He has
    also headed the Tripura asset of ONGC as Executive Director – Asset Manager.
  • Mahawar also played an important role in establishing the
    Well Control School at the Institute of Drilling Technology (IDT), Dehradun,
    which has been imparting training to ONGC employees and oil personnel from
    other Indian as well foreign oil companies.

ONGC Videsh names
Sudhir Sharma as Director (Exploration)
  • ONGC’s overseas investment arm ONGC Videsh announced the
    appointment of Sudhir Sharma to the board of the company as the Director
  • Sharma has worked for over three decades in various domestic
    and overseas capacities in ONGC Videsh. He was most recently the Country
    Manager and Legal Representative for the company’s Colombia operations for over
    a year. He has also been the Head of Business Development in ONGC Videsh.

Sania Mirza
recommended for Rajiv Gandhi Khel Ratna

  • The Sports Ministry on Saturday confirmed that Wimbledon
    doubles champion Sania Mirza has been recommended for the Rajiv Gandhi Khel
  • Sania won her first women’s doubles Grand Slam title with
    Swiss partner Martina Hingis in June. She also became World No. 1 before
    winning the Grasscourt major.


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