Current Affairs Update – 1st August, 2016

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.

• 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.

• 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 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.

• 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.

• 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.

• 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.

• 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 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.

• 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, 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.

• 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 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.

• 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.

Regards

Team ExamPundit