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INDIAN AFFAIRS
Uttarakhand to set up India’s First ‘Women Entrepreneurs Park’
As a First of its Kind move in India, Uttarakhand Government is going to set up an Industrial Park completely and exclusively dedicated to the Women entrepreneurs.
♦ This new scheme installation was launched by Uttarakhand Chief Minister Harish Rawat on July 15. The event was organised by FICCI Ladies Organisation (FLO).
♦ This Park extends of over 200 acres and will be located in Uttarakhand’s Sitarganj district.
♦ The women entrepreneurs will be provided by the state government with a framework to set up a single-window umbrella organization for the benefit of units promoted by Self Help Groups and large units.
HRD Ministry Contrives for Interest Free Loans to IITians
The Central Human Resource Development Ministry is now underwriting a scheme in order to assist IIT Students to overcome their financial burden by providing them a Interest Free Loans.
♦ This decision, the initially taken by the new HRD minister Prakash Javadekar, is to outgrowth a tuition fee hike in April, 2016 for undergraduate IIT students.
♦ It is also noted that this will be applicable to all students whose family income is not more than Rs.9 lakhs and this facility will be applicable only for loans taken to pay tuition fees.
♦ In april 2016, The annual tuition fee for undergraduate students was increased from Rs.90,000 per year to Rs.2,00,000 per year with immediate effect.
MP becomes first state to have ‘Happiness Department’
i. Madhya Pradesh is all set to become the first state to set up ‘Happiness Department’, with Chief Minister Shivraj Singh Chouhan saying it will work to ensure happiness in the lives of common people on the lines of Bhutan.
ii. Upon this decision the Cabinet has decided to constitute Happiness Department in the state and the CM chouuhan will head the department.
iii. The centre includes a chairman, a CEO, a director each for Research and Coordination and an accounts officer, four posts of Research Assistant, six Junior Assistant and five peons.
iv. The state cabinet approved an estimated budget of Rs 3.6 crore for the Happiness department.
Madhya Pradesh:
♦ Capital: Bhopal
♦ Governor: Ram Naresh Yadav
♦ Chief Minister: Shivraj Singh Chouhan
INTERNATIONAL AFFAIRS
INDIA – YAWS & Maternal and Neonatal Tetanus(MNTE) FREE Nation says WHO
As a significant marking in Public Health Protection, India has been declared as YAWS – FREE country by the World Health Organization (WHO). It is stated that India is the First ever country to become free from YAWS and declared it free from Maternal and Neonatal Tetanus(MNTE).
Yaws: It is a infection of the skin, bones and joints caused by the spirochete bacterium, Treponema pallidum pertenue.
♦ Eradication of YAWS has been possible due to the commitment and dedication of the lakhs of health workers, various stakeholders and concerted efforts of planners and policymaker.
♦ Few years back, India witnessed 1-2 lakhs neonatal tetanus cases annually, which have been now reduced to one per 1,000 live births.
BANKING & FINANCE
Soiled Notes can be Exchanged for Free till certain Limits – RBI
i. Reserve Bank of India advised banks to exchange up to 20 pieces of soiled Indian 
currency notes with a cap value of Rs 5,000 through the counter without any processing fee in order to improve the customer service.
ii. If the notes are presented in bulk (where the number exceeds 20 pieces or Rs 5,000 in value per day), banks will accept them, against receipt, for value, which is to be credited later.
iii. This facility of exchanging mutilated or imperfect notes is available at all designated bank branches and also in non-chest branches.
iv. All persons tendering mutilated notes whose value exceeds Rs 5,000 will have to approach nearby currency chest branch.
v. It is noted that when the number of notes presented by a person is up to 5 pieces per day, non-chest branches should normally adjudicate the notes as per the procedure and to pay the exchange value over the counter.
vi. Apart from this, when the number of notes presented by a person is more than 5 pieces not exceeding Rs.5000 in value, the renderer should be advised to send such notes to nearby currency chest branch by insured post giving his bank account details or get them exchanged there by in person.
Transactions above 3 Lakhs are to be Banned to curb Black Money – SIT
i. In order to trace the Black and illegal Money, Special Investigation Team (SIT) has advocated for the ban of cash transactions above 3 lakh rupees and also restrict the Money Holding Capacity to 15 Lakhs in order to curb the Black Money in the nation.
ii. In finding ways to curb generation of black money—unaccounted, untaxed wealth—and bring back funds stashed away overseas, SIT Suggested to ban common High-value transactions in cash, especially in the real estate sector where buyers try to get away with lower stamp duty.
iii. SIT recommended that an Act be framed to declare cash transactions above Rs.3 lakh illegal. It pointed out that a large amount of unaccounted wealth is stored and used in the form of cash.
iv. Apart from this SIT also advised to engage in the process of enacting the Benami Transactions (Prohibition) Amendment Bill, which the government hopes will get passed in the upcoming monsoon session.
About SIT
♦ Name – Special Investigation Team
♦ Establishment – 2014
♦ Head – M.B.Shah
Sudarshan Sen Committee to brush up the FINTECH Payments Entity
i. In order to study regulatory issues relating to financial technology and digital banking in India, the Reserve Bank of India (RBI) set up an inter-regulatory working group on July 14. This idea is executed as suggested by the sub-committee of the Financial Stability and Development Council (FSDC).
ii. On last April 26, the Financial Stability and Development Council – Sub Committee (FSDC – SC), had decided to set up such a Working Group to look into and report on the chondritic aspects of Fintech and its significance’s.
iii. This enacting group is chaired by Sudarshan Sen, Executive Director of RBI, and also comprises of 12 members including
♦ AP Hota, MD and CEO, National Payments Corporation of India
♦ AS Ramasastri, Director, Institute for Development and Research in Banking Technology
♦ Mrutyunjay Mahapatra, Deputy Managing Director
♦ CIO, State Bank of India
♦ Nitin Chugh, Head (Digital Banking), HDFC Bank.
The Working Group has been set up in order to improve the growing significance of Fintech innovations, and their collaborations with the financial sector entities. The Group will brush up and reorient the governing framework and also to respond to the dynamics of the rapidly evolving Fintech entity.
BUSINESS
BHEL commissions 250 MW power plant in Gujarat
i. Power major BHEL has commissioned another 250 MW unit coal based using low quality coal (lignite) as the primary fuel.
ii. This plant uses ecofriendly Circulating Fluidized Bed Combustion (CFBC) technology, that has been commissioned at Bhavnagar Energy Company (BECL) 2×250 MW thermal power project, located atPadva village in Bhavnagar district, Gujarat.
iii. The CFBC technology that allows use of low quality lignite as fuel. The second unit of this project is also at an advanced stage of completion.
APPOINTMENTS
Nabam Tuki takes charge as Arunachal Pradesh CM
i. Nabam Tuki took charge as Arunachal Pradesh Chief Minister after the Apex Court ordered the restoration of the state government as on 15th December 2015.
ii. For now ousted Arunachal Pradesh Chief Minister Kalikho Pul who claims the support of 47 MLAs said he would file a review petition against the 5 judge Supreme Court judgement.
iii. The crisis in Arunachal Pradesh began when ousted CM Kalikho Pul and 29 Congress MLAs had merged with the Peoples Party of Arunachal.
Rajesh Kumar Chaturvedi appointed as Chairman of CBSE
i. Union government appointed Rajesh Kumar Chaturvedi as the Chairman of the Central Board of Secondary Education (CBSE) for a five-year term.
ii. The post had been lying vacant for last two years. However in 2015, Erstwhile HRD Minister Irani’s choice and Ministry official Satbir Bedi’s name had not passed muster apparently on the techincal ground that she did not have the requisite experience in educational administration.
iii. Chaturvedi is a 1987- batch IAS officer whose name was announced on a day when 19 Additional Secretary-level appointments and 29 Joint Secretary-level appointments were announced.
SCIENCE & TECHNOLOGY
Boston Scientific launches first integrated facility in India
i. Boston Scientific Company has launched its first integrated facility in India to develop and sell minimally invasive technologies also to train physicians in using them.
ii. The 1 lakh sq ft facility comprises research and development, training and commercial center. The center will focus on creating market-appropriate products and will also serve as a global product engineering center.
iii. The Institute for Advancing Science (IAS), a physician training facility equipped with simulators for hands-on training on innovative technologies, is the newest addition to growing global network of Boston IAS facilities.
DRDO successfully test fired ATAGS – A pure Indigenous Combat system
i. DRDO successfully test fired the purely indigenous 155 mm x 52 caliber Advanced 
Towed Artillery Gun System (ATAGS), which the Indian Army is all set to get the much needed weapon for user trials by early 2017.
ii. Giving the ‘Make in India’ initiative for the defense sector yet another boost, DRDO (Defense Research and Development Organization) built this 155 mm x 52 caliber Advanced Towed Artillery Gun System (ATAGS) in India itself.
iii. The specialties of ATAGS are, the gun will have a firing range of 40 kms and boasts of advanced features such as high mobility, quick deploy ability and auxiliary power mode, advanced communication system, automatic command and control system with night firing capability in direct fire mode.
iv. As a additional support this system is configured with an all electric drive aimed at ensuring maintenance free and reliable operation over a longer period of time.
v. ATAGS comprises of a breech mechanism, barrel and muzzle brake and recoil mechanism to fire 155 mm caliber ammunition. It has longer range, accuracy and precision and provides greater fire power
vi. DRDO aims to develop the artillery gun system with participation of private industry. Establishing indigenous critical defense manufacturing technologies, is one of the key focus areas of the project.
Three Indian Naval Ships reaches Port Kelang in Malaysia on four day visit
i. Indian Naval Ships Sahyadri, Shakti and Kirch under the Command of the Flag Officer Commanding Eastern Fleet, Rear Admiral S V Bhokare, YSM, NM have made a visit at Port Kelang on a four day visit.
ii. The current visit seeks to enhance maritime cooperation between the Indian Navy and the Royal Malaysian Navy.
iii. The visiting ships are also to be expected to conduct exercises with the Royal Malaysian Navy, aimed at enhancing interoperability in communication as well as Search and Rescue procedures, post departure from Port Kelang.
iv. Bilateral relations between both the sides are characterized by strong bonds of friendship based on cultural, religious and economic ties between South India and the Malay Peninsula over two millennia.
SPORTS
GM Harika Dronavalli wins Fide Women’s Grand Prix trophy in China
i. India’s Grand Master Harika Dronavalli has bagged Fide Women’s Grand Prix trophy 
in Chendu in China. In a game against Russia’s Olga Girya. It has her maiden career GP title.
ii. She finished on 7 points in the round robin tournament featuring the world’s top 12 players to be crowned the champion.
iii. On the other hand India Grand Master Koneru Humpy too rounded off her campaign with a victory to also finish on 7 points.
Misbah-ul-Haq Becomes Oldest Player to Score Test Hundred
i. Pakistan captain Misbah–ul–Haq became the oldest player to score a Test century for 82 years when he reached the three-figure mark against England at Lord’s.
ii. However other 5 Batsmen older than Misbah who have scored Test hundreds: Hobbs has done it four times, while Patsy Hendren, Bardsley, Dave Nourse and Frank Woolley have made it once each.
iii. He achieved this feat at the first Test at the ‘home of cricket’ in London. Remarkably, this was also Misbah’s maiden Test anywhere in England.
BOOKS & AUTHORS
Biography titled “Who moved my interest rate?” by Mr. Subbarao
i. Former Reserve Bank of India Governor Duvvuri Subbarao’s memoirs, revealing a 
turbulent relationship with two Finance Ministers of the time P. Chidambaram and Pranab Mukherjee.
ii. The biography titled “Who moved my interest rate? Mr. Subbarao penned about his five years at the country’s central bank, between 2008 and 2013. His account may cause some embarrassment to a few prominent leaders in the previous UPA government.
iii. In his penning the former governor indicates that the then Finance Minister Pranab Mukherjee seemed reluctant to grant him an extension in 2011. However, Prime Minister Manmohan Singh was odd on it by keen on he serve a five-year term.
OBITUARY
India’s Olympic Silver Medalist Joe Antic Passes Away Aged 90
i. Joseph Anthony Antic, silver medallist in men’s hockey for India at the Rome Olympics, passed away at the age of 90.
ii. He played in the centre-half position at the 1960 Summer Olympic Games and received the silver medal in Rome
iii. Joseph Antic was born in Andhra Pradesh.
IMPORTANT DAYS
July 15 – World Youth Skills Day
Since 2014, 15th July is celebrated as World Youth Skills Day by United Nations. This day is being celebrated in order to highlight the fundamental rights of the youth.
UN marked 2016 special event on the theme of “Skills Development to Improve Youth Employment.” This theme is opted in order to understand the works needed to be given to the today’s and tomorrow’s youth to create a fruitful future for the upcoming youth by 2030.
“India Skills Competition” – Exclusive cover of the Inaugural by the President
♦ Lionizing the World Youth Skills Day, President Pranab Mukherjee inaugurated the First India Skills Competition on July 15 in New Delhi. Ministry of Skill Development and Entrepreneurship & NSDC (National Skill Development Corporation) is hosting this world famous India Skills Competition.
♦ National Skill Development Corporation organizes ‘India Skills’ to select the best talent, who is going to lead India at the biennial World Skills International Competition, which is set to roll out at Abu Dhabi, Dubai in 2017.
