Current Affairs Update – 5th July, 2015

Hello and welcome to ExamPundit. Here are the Important Current Affairs of 5th July, 2015. These are very Important for the upcoming SBI PO Mains 2015 and RBI Assistant 2015.

Finance/Banking –
SBI Group’s share in debit card payments touches 25% in FY15

  • Riding on the booming e-commerce
    space and increasing adoption of non-cash transactions, the combined share of
    SBI and its five associate banks in the debit cards space has touched 25 per cent
    in the financial year 2015.
  • “Debit card spends at points
    of sale and e-commerce transactions of the State Bank Group crossed Rs 30,000
    crore in FY15, an increase of 38.8 per cent, which resulted in the group
    topping the market share at 25 per cent of total debit card spends,” SBI
    said in its annual report for FY15.
  • State Bank of Bikaner &
    Jaipur, State Bank of Hyderabad, State Bank of Patiala, State Bank of
    Travancore and State Bank of Mysore form the SBI Group.
  • As of March end, the SBI Group
    has issued over 20.59 crore debit cards, which is highest in the country.
  • State Bank of India itself has
    been actively promoting debit card usage by running various promotional and
    cashback campaigns.
  • It has recently launched loyalty
    programme for its customers for doing various banking transactions through
    debit cards, personal banking, alternate channels like internet and mobile
    banking, among others.
  • In terms of the number of mobile
    banking transactions, SBI continues to be market leader with a 46 per cent

Bandhan to start banking operations from Aug 23
  • Micro-finance institution Bandhan
    Financial Services, which got the final licence from Reserve Bank of India to
    start universal banking, would formally start operations as a banker from
    August 23.
  • “We will start banking
    operations under Bandhan Bank from August 23 with the inauguration of 600
    branches in 27 states across the country along with 250 on-site ATMs,”
    Bandhan chairman Chandra Sekhar Ghosh told PTI.
  • He said 247 branches would be
    opened in West Bengal, while Bihar, Orissa and Assam would also have a good
    share in terms of the number of branches.
  • Ghosh said 65% of the branches
    would be rural, while the rest 35% would be opened in urban areas.
  • The logo for Bandhan Bank has
    been designed by advertising agency O&M, Ghosh said adding that all the
    branches would be on core banking platform.
  • Bandhan is also in the process of
    obtaining separate RBI licences for RTGS, NEFT, payments gateways and CTS, he

Corporation Bank launches first MUDRA card

  • The MUDRA (Micro Units
    Development and Refinance Agency) card under the Pradhan Mantri MUDRA Yojana
    (PMMY) scheme was launched by the Corporation Bank on Saturday. Hasmukh Adhia,
    Secretary, Department of Financial Services, Ministry of Finance, released the
  • Mr. Adhia presented the cards to
    a few customers in the presence of Corporation Bank CMD S.R. Bansal and
    Executive Director Bibhas Kumar Srivastav. The card facilitates the withdrawal
    and use of the working capital finance by micro entrepreneurs. Corporation Bank
    was the first bank to launch the MUDRA Card based on the RuPay platform, said a
    release from the bank.
  • Three loan schemes are offered to
    the entrepreneurs based on their capacity to repay. “Shishu” scheme provides
    loan up to Rs.50,000. while a loan amount up to Rs. 5 lakh will be lent under
    “Kishore” scheme. Under “Tarun” scheme loan up to Rs. 10 lakh will be offered.
  • As a part of the digital India
    programme of the Government of India, the bank also launched a high-tech
    paperless point of sales (PoS) terminal in association with MRL POSNET and the
    “Remit to India” portal for inward remittance by NRIs.

Mastercard tries selfies to verify online payments

  • MasterCard is experimenting with
    a smartphone app which allows people to confirm their identity and authenticate
    online transactions via a facial scan.
  • Users will have to download the
    MasterCard phone app and at checkout they will be asked to hold up their phone
    to stare and blink at it.
  • “The new generation, which is
    into selfies…I think they’ll find it cool. They’ll embrace it,” said Ajay
    Bhalla, security expert at the American financial services company MasterCard.
  • Currently, users can set up
    something called “SecureCode,” which requires a password when shopping online.
  • However, passwords can be forgotten,
    stolen, or intercepted.
  • MasterCard is launching a small
    pilot programme involving 500 people that uses fingerprints — but also facial
    scans to verify online transactions, ‘CNN Money’ reported.
  • MasterCard said it has partnered
    with every smartphone maker to make this method of verification possible.
  • MasterCard said a pop-up will ask
    for authorisation after people buy something. They can choose fingerprint or
    facial recognition. Users who choose facial recognition have to stare at the
    phone and blink once.

India –
ISRO to undertake biggest commercial launch on July 10

  • In the heaviest ever commercial
    mission undertaken by ISRO and its commercial arm Antrix, the country’s
    workhorse the Polar Satellite Launch Vehicle (PSLV) will put in orbit five
    foreign satellites from the spaceport of Sriharikota in Andhra Pradesh on July
  • With the overall lift-off mass of
    the five satellites amounting to about 1,440 kg, this mission becomes the
    heaviest commercial mission ever undertaken by Antrix/ISRO, the Indian space
    agency said.
  • In its 13th flight, PSLV-C28 will
    launch three identical DMC3 optical earth observation satellites built by
    Surrey Satellite Technology Limited (SSTL), United Kingdom (UK).
  • The three DMC3 satellites, each
    weighing 447 kg, will be launched into a 647 km Sun-Synchronous Orbit (SSO)
    using the high-end version of PSLV (PSLV-XL), ISRO said on its website.
    PSLV-C28 will be the ninth flight of PSLV in ‘XL’ configuration.
  • The three DMC3 satellites, each
    weighing 447 kg, will be launched into a 647 km Sun-Synchronous Orbit (SSO)
    using the high-end version of PSLV (PSLV-XL), ISRO said on its website.
    PSLV-C28 will be the ninth flight of PSLV in ‘XL’ configuration.
  • In addition, the rocket will also
    carry two auxiliary satellites from UK – CBNT-1, a technology demonstrator
    earth observation micro satellite built by SSTL, and De-OrbitSail, a technology
    demonstrator nano satellite built by Surrey Space Centre.

Govt to convert 90,000 kms national highways into green corridors

  • The government will convert
    90,000 kms of country’s national highways into green corridors, for which it is
    planning to create at least 1,000 contractors responsible for planting trees.
  • The new green policy, he
    explained, will pave way for creation of employment as well as contribute towards
    the economic growth of the country.
  • India’s road network of 33 lakh
    kms is the second largest in the world and consists of 92,851 kms of National
    Highways, which constitute only 1.7 per cent of the road network but carry
    about 40 per cent of the total road traffic.

ComMin takes steps to boost pharma exports; sets up committee
  • Government has taken several
    measures, including setting up of an inter-departmental committee to look into
    export-related issues and awareness programmes in emerging markets like Africa,
    to boost pharmaceutical exports.
  • Pharmaceutical sector has huge
    potential in terms of increasing exports, the Commerce Ministry is taking many
    measures to boost overseas shipments, a ministry official said.
  • The official said an
    inter-ministerial committee to resolve export-related issues has been set up.
    Besides, the ministry has prepared a ‘guidance document on pharma procurement’
    to help authorities in Africa, Latin America and South Asia in their purchasing
  • Awareness programmes about Indian
    pharma industry have also been started in these markets and workshops are being
    organised with USFDA for Indian drug regulators and the industry.
  • Recently, the Indian pharma
    industry has been facing the heat from the US Food and Drug Administration for
    non-compliance of regulatory framework. In the recent past, many domestic
    generic drug makers, including Sun Pharma and Wockhardt, have faced actions.
  • The Commerce Ministry is
    depending on the sector to boost the country’s exports, which are in the
    negative zone since December last year.
  • India’s pharma exports grew by
    about 3 per cent to USD 15.34 billion in 2014-15.

Sports –
Chile beat Argentina to win first-ever Copa America title

  • Chile won the Copa America for
    the first time in the tournament’s 99-year history on Saturday when they beat
    Argentina 4-1 on penalties after 90 minutes and extra time failed to produce a
  • Alexis Sanchez netted the
    clinching goal from the spot after Gonzalo Higuain and Ever Banega had missed
    for Argentina.
  • The nail-biting finish came after
    a tense 0-0 draw in which neither side dominated and clear-cut chances were few
    and far between.
  • Chile had beaten Argentina just
    once in 38 competitive matches before the final and celebrated the triumph in
    front of an ecstatic home crowd at the National Stadium.
  • Best young player was awarded to
    Jeison Murillo of Colombia.
  • Man of the match in the final was
    Arturo Vidal of Chile.


Team ExamPundit


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