Current Affairs Update – 27th July, 2015

• Former President APJ Abdul Kalam, a popular President
  between 2002 and 2007, passed away on Monday after he collapsed during a
  lecture in Shillong.
• Kalam (84) took ill at a function in Shillong and was rushed
  to the hospital, M Kharkrang, SP Khasi Hills, said.
• The former President collapsed during a lecture at the
  Indian Institute of Management in Shillong at around 6.30 pm and was taken to
  the hospital. TV reports earlier said that Kalam suffered a massive cardiac
  arrest at the function at IIM Shillong.

• Axis Bank today signed a USD 200-million, seven-year
  bilateral loan agreement with the Asian Development Bank.
• The loan will help bolster bank’s efforts to improve farm
  efficiency by extending customised and affordable agriculture credit, that will
  help leverage its semi-urban and rural branch network to deliver agriculture
  credit, the city-headquartered lender said in a statement.
• Axis Bank has 2,589 branches, including extension counters
  across 1,714 centres mostly in cities and towns.

• Indian gold jewellery major Rajesh Exports Ltd. (REL) announced
  the acquisition of Valcambi, the world’s largest integrated precious metals
  refiner in all-cash of USD 400 million (around Rs 2,560 crore).
• REL has through its fully-owned subsidiary in Singapore
  fully acquired European Gold Refineries, the 100 per cent holding company of
  Valcambi in an all-cash deal.
• Valcambi has a capacity to refine 1,600 tonnes of gold or
  altogether 2,000 tonnes of precious metals per annum. A statement from REL said
  Valcambi generated revenues in excess of USD 38 billion and operating profit of
  USD 33 million (Rs 205 crore) by refining and selling 945 tonnes of gold and
  325 tonnes of silver on average per year for the past three years.

• Online furniture retailer Pepperfry today said it has raised
  USD 100 million (about Rs 642 crore) from Goldman Sachs, Zodius Technology
  Fund, and existing investors Bertelsmann India Investments and Norwest Venture
  Partners.
• The fourth round of funding will be used to strengthen the
  company’s logistics, technology platform, experience centres and marketing
  efforts.
• Pepperfry has previously raised about USD 28 million in
  three rounds.
• Pepperfry, which has more than 2 million customers, is a
  furniture and home products marketplace reaching over 300 cities directly.

• Government today appointed IT Secretary R S Sharma as new
  chairman of the Telecom Regulatory Authority of India.
• Sharma, a 1978 batch IAS officer of Jharkhand cadre, has
  played key role in implementing Aadhaar project and designing road-map for
  government’s Digital India programme.
• He is credited to have designed key digital services, such
  as digital locker, digitize India and fast execution of schemes to push
  electronics manufacturing in the country.
• The post of TRAI Chairman fell vacant on May 14 after Rahul
  Khullar retired from the post.
• Sharma’s appointment comes at a time when there is a debate
  over net neutrality and TRAI has to give its view on the same to the
  government.

• Chris Froome, a cyclist from Team Sky of Britain, on 26 July
  2015 won 102nd Tour de France in a three-week slog of furious race around the
  Champs Elysees, Paris. With this, Froome became the first Briton to win the
  Tour de France for the second time.
• Froome made his mark in the mountain stage to La Pierre St
  Martin in the 10th stage before riding defensively to leave behind Nairo
  Quintana Rojas, a Colombian racing cyclist, by 72 seconds. The third-place was
  secured by Alejandro Valverde, cyclist from Spain.
• The Team Sky now has three victories in its pocket. The
  first vistory was marked by former Team Sky leader Bradley Wiggins claiming the
  2012 edition, followed the two victories of Froome in 2013 and 2015. British
  riders now have three Tour de France victories out of the last four Grand
  Boucles.

Regards

Team ExamPundit

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