Current Affairs Update – 7th July, 2015

Hello and welcome to ExamPundit. Here are the Important Current Affairs of 7th July, 2015. These are Important for the upcoming SBI PO Mains and RBI Assistant 2015.

Finance –
IDBI-Mudra Bank sign refinance pact
  • The State-run IDBI Bank on
    Tuesday said it has signed an agreement with Mudra Bank for refinancing of loans
    given to small enterprises.
  • “As per the agreement, the Bank
    will offer credit facilities up to Rs 10 lakh to micro enterprises, at a
    competitive interest rate under Pradhan Mantri Mudra Yojana (PMMY) and Mudra
    will be providing refinance assistance to the bank for eligible sanctioned loan
    cases,” IDBI Bank said in a release.
  • The refinance scheme will be
    implemented through all the branches of the lender.
  • The agreement was signed on July
    1 by IDBI Bank Executive Director S K V Srinivasan and Mudra Bank CEO Jiji
  • Last week, Bank of Maharashtra
    had also signed an agreement with Mudra Bank for refinancing of loans given to
    new entrepreneurs and small businesses.

UK’s ESpark, Viridian Ventures tie up, to invest $300 mn
  • The UK-based Entrepreneurial
    Spark and India’s Viridian Ventures on Tuesday announced a joint venture called
    Viridian ESpark Accelerator to create programmes for entrepreneurship
    development, for which the Viridian Venture-led consortium and its partners
    plan to invest about $300 million (Rs 1,950 crore) in a phased manner.
  • Announcing this here, Murali
    Hariharan, Global Head (Venture Strategy), Viridian Group, said the accelerator
    had already given awards to 15 start-ups selected through a business plan
    contest launched during the Vibrant Gujarat Summit 2015. Of the over 140
    entries received from across India, 23 applicants were also shortlisted to be a
    part of the Accelerator Programme, to be launched in Ahmedabad in August.
    Selected candidates would be considered for seed funding of around Rs. 1 crore
    from Viridian Ventures.
  • Similar accelerator programmes
    would be launched in Noida and Delhi-NCR by the year-end. In the next three
    years, these programmes would be expanded to Bengaluru, Pune, Mumbai,
    Hyderabad, Kochi, Chennai, Chandigarh and Kolkata.

PM Visits –
India, Uzbekistan released Joint Statement to intensify security
cooperation, exchanges

  • India and Uzbekistan on 6 July
    2015 released a Joint Statement (JS) to intensify security cooperation and
    exchanges. The JS was released during Prime Minister Narendra Modi’s official
    visit to Uzbekistan from 6 July to 7 July 2015. He visited Uzbekistan on the
    invitation of the President of Uzbekistan Islam Karimov.
  • PM Modi is on an eight-day visit
    to five Central Asian states, Kazakhstan, Kyrgyzstan, Uzbekistan, Tajikistan
    and Turkmenistan from 6 July to 13 July 2015. During the journey, he will also
    visit Russia to attend BRICS summit and SCO summit at Ufa on 9 July and 10 July

Details of the Joint Statement
  • The two sides agreed to maintain
    regular bilateral consultations and political dialogue to promote mutual
    understanding on bilateral as well as regional and international issues.
  • The two sides expressed their
    intention to strengthen coordination between the law enforcement agencies and
    special services of the two countries under the framework of the
    Uzbekistan-India Joint Working Group on Counter-Terrorism.
  • They also agreed to expand
    cooperation in the fields of defence and cyber-security.
  • The two sides agreed to take
    joint measures to expand and diversify the bilateral trade through facilitating
    participation in exhibitions, trade fairs, business forums and other joint
    business activities in Uzbekistan and India.
  • They called for partnership in
    creating favorable conditions for investment by Indian companies in Uzbekistan,
    including in the framework of the Special Economic Zones “Navoi”,
    “Angren” and “Jizzakh”.
  • They agreed to further develop
    mutually beneficial cooperation in transport & communication and agreed to
    explore various options to enhance surface connectivity between them.
  • They agreed on the proposal to
    set up telemedicine links connecting medical institutions in Uzbekistan and
    India for medical consultations, exchange of experiences and teleconferences.
  • A new Programme of Cultural
    Cooperation for the period 2015-2017 was inked and the two sides called for its
    full and timely implementation to expand cultural exchanges.
  • The two sides agreed to implement
    practical measures under the framework of the bilateral Agreement on
    cooperation in tourism was signed during the visit.
  • Both the sides called for
    comprehensive reforms of the UN structures, first of all, its Security Council,
    including expansion in both categories of membership. Uzbekistan reaffirmed its
    support to India’s candidature for permanent membership of the UN Security
  • They agreed to further strengthen
    mutual cooperation under the framework of the Shanghai Cooperation Organization

India –
Japan’s SoftBank to set up 20 GW solar plant in A.P.

  • Japanese multinational telecom
    company, SoftBank has expressed its readiness to establish an ambitious 20
    Gigawatt solar power plant in Andhra Pradesh.
  • As part of ‘Make in India’
    initiative, SoftBank will take up manufacturing of solar panels in the State.
  • Besides offering financial
    assistance for the proposed university on non-conventional energy resources,
    SoftBank also came forward to provide scholarships to engineering students who
    specialise in solar energy.
  • This was the outcome during a
    meeting Andhra Pradesh Chief Minster N. Chandrababu Naidu, who is currently
    touring Japan, had with SoftBank Chairman Masayoshi Son on Tuesday morning.
  • Meanwhile, Japanese Minister for
    Trade and Industry Yoichi Miyazawa said that Japanese companies were interested
    in participating in the development of the new capital city of Andhra Pradesh.
    During his interaction with the delegation led by Mr. Naidu, he said that
    Japanese firms would be seeking equity participation with the organisation
    involved in constructing the new capital.

Delhi Leads in Construction of Public Toilets
  • Delhi has built the highest
    number of community and public toilets under Swachh Bharat Mission, followed by
    Chhattisgarh and Maharashtra, while Gujarat topped in the individual household
  • Delhi has completed construction
    of 5,776 community and public toilet seats since the launch of the mission in
    October last year, followed by Chhattisgarh (3,570), Maharashtra (2,520),
    Chandigarh (2,424) and Karnataka (1,680).
  • These five states and Union
    Territories accounted for 86 per cent of the total number of public toilets
    constructed so far.
  • The government aims to build over
    5 lakh community and public toilet seats under the mission and the Urban
    Development Ministry has sanctioned 82,438 so far.
  • On construction of household
    toilets, Gujarat tops the chart with 2,64,331 such facilities, followed by
    Madhya Pradesh (99,151). These two states together account for 94 per cent of
    the total 3.83 lakh individual household toilets built under the scheme so far,
    followed by Andhra Pradesh, Karnataka, Punjab and Maharashtra.
  • Applications have been received
    from the states and Union Territories for construction of 30,41,097 individual
    household toilets as against the target of one crore such lavatories by 2019
    and the Urban Development Ministry has sanctioned 13,64,814 toilets.

ICRISAT unveils $300 phablet for farmers

  • Farmers now can have customised
    tips on their phablet on the kind of agricultural inputs they might require for
    their field.
  • Based on the specific soil health
    of their small chunks of lands, scientists at the International Crops Research
    Institute for Semi-Arid Tropics (ICRISAT) and Government of Telangana would
    send timely messages to the farmers through the phablet.
  • Phablet is a smart device bigger
    than a phone but smaller than a tablet.
  • The Hyderabad-headquartered
    ICRISAT launched the Green Phablet, priced at $300 (about Rs. 18,600), for
    farmers in Telangana.
  • The institute would maintain
    servers to safe keep the information. And even if a user loses his device, he
    would be able to get back the information in no time.
  • ICRISAT Director-General David
    Bergvinson signed a tripartite agreement on Tuesday with the Departments of
    Agriculture and Information Technology to collaborate in transforming agriculture
    using digital technologies.

President inaugurated Nakshatra Vatika at Rashtrapati Nilayam Gardens
  • President Pranab Mukherjee on 6
    July 2015 inaugurated Nakshatra Vatika at his official Rashtrapati Nilayam
    Gardens in Bolarum, Secunderabad. The vatika (garden) has plants representing
    planets, zodiac signs and stars.
  • The layout of ‘Nakshatra Vatika’
    has been developed in various geometrical combinations corresponding to the
    Sree Chakra of Vedic astrology on a 0.91 acre plot.

Appointments –
R.K. Dutta is CBI Special Director

  • Rupak Kumar Dutta, an IPS Officer
    of 1981 Batch (Karnataka Cadre), took over as Special Director in the CBI, New
  • Prior to his appointment as a
    Special Director, he was holding the post of Additional Director in the CBI and
    looking after the Anti Corruption (HQ) Zone, Patna Zone, Hyderabad Zone,
    Chennai Zone, Economic Offences Zone-I, Bank Securities and Frauds Zone and
    Delhi Zone, a release said.

China nominated Jin Liqun, former Chinese Finance Minster, for the post
of AIIB President

  • Former Finance Minster of China
    Jin Liqun was in news as on 6 July 2015 he was nominated by China to be the
    first president of the Beijing-backed Asian Infrastructure Investment Bank
  • At present, Jin (65) is Secretary
    General of AIIB’s interim secretariat. Earlier, he has held positions at the
    World Bank and was the first Chinese national to serve as a vice president at
    the Japan-controlled Asian Development Bank (ADB).
  • During his 5-year-long tenure at
    ADB, Jin headed its programmes for South, Central and West Asia and private
    sector operations.

Ex-Vodafone global CEO Arun Sarin joins Ola board

  • In one of the major board
    appointments by the Indian start-ups, taxi hailing services provider Ola has
    roped in former Vodafone global CEO Arun Sarin as an Independent Director.
  • Mr. Sarin, in his capacity as an
    Independent Director will contribute in an advisory role to Ola’s overall
    business strategy that will further drive growth and leadership in the market.
  • Earlier, last week Chairman
    Emeritus of Tata Sons, Ratan Tata has acquired stake in Ola and the company had
    claimed it as a huge endorsement
  • The key appointment of Mr. Sarin
    comes at a time when Indian taxi hailing services provider like Ola and its
    subsidiary Taxi For Sure are facing tough competition from rival Uber.
    Recently, Uber has announced its entry into seven more cities in India. Now
    with presence in around 18 cities, India has become the largest geographical market
    for the Uber after the US.

World –
USA, Brazil issued Joint Statement on Climate Change
  • Presidents of the United States
    of America and Brazil Barack Obama and Dilma Dilma Rousseff respectively on 30
    June 2015 issued a joint statement on climate change in Washington, the USA.
  • The joint statement includes
    individual commitments towards reducing green house gas (GHG) emissions and
    bilateral mechanisms to protect the planet from the adverse effects of climate
  • Takeaways from the joint
    statement on climate change
  • The USA and Brazil each intend to
    increase the share of renewables – beyond hydropower – in their respective
    electricity generation mixes to the level of 20 percent by 2030. This means the
    USA and Brazil will need to triple and double, respectively, their share of
    renewable energy in the next 15 years.
  • The USA will reduce GHG emissions
    by 26 percent to 28 percent below 2005 levels in 2025. 
  • Brazil intends to restore and
    reforest 12 million hectares of forests by 2030.
  • Both the countries agreed to work
    multilaterally in the Montreal Protocol to consider promptly amendment
    proposals to phase down HFCs.

Sports –
Indian captain Mithali Raj becomes second woman to score 5000 ODI runs

  • A captain’s knock by Mithali Raj
    in the ongoing ODI series against New Zealand women enabled the Indian team to
    register a comfortable eight-wicket victory in the fourth ODI. India levelled
    the five-match series 2-2.
  • Mithali’s stylish unbeaten knock
    of 81 was the cornerstone of India successful chase of 221 in only 44.2 overs.
  • In the course of her innings,
    Mithali Raj made history. Mithali became the first Indian and second in women’s
    ODI history to complete 5000 runs after England’s Charlotte Edwards.
  • The 32-year old from Jodhpur is
    no stranger to record books, too. Very few can forget the memorable
    double-century she scored in England. Her majestic 214 in Taunton back in 1999,
    when she was a mere 19-year-old, was then the world record for the highest
    individual score in Women’s Test cricket.

Flyod Mayweather stripped of title he won in Pacquiao fight

  • Floyd Mayweather Jr. has been
    stripped of the welterweight world title he won after beating Filipino Manny
    Pacquiao in May for failing to comply with rules, the World Boxing Organization
    (WBO) said on Monday.
  • Mayweather missed a deadline by
    which he had to pay a $200,000 sanctioning fee from the fight and vacate the
    junior middleweight title he also held, the WBO said in a statement.
  • The WBO said it is against rules
    for boxers to hold world titles in multiple weight classes and that Mayweather
    had to indicate, which weight division he would retain.

Books & Authors –
37 Bridges authored by Aamer Hussein
  • Book 37 Bridges and Other Stories
    authored by a noted Pakistani author Aamer Hussein book is a new collection of
    his stories. The book was released on 15 March 2015.
  • The author through the book
    highlights the matter of identity with respect to both the Hindu and Muslim.
    Further, the book identifies itself with Hussein’s identity who is a British
    citizen born to a Pakistani father and an Indian mother both of whom later
    settled in Britain.


Team ExamPundit


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