RBI policy kept its policy rate on hold at 7.25 percent leaving the door open to ease further depending on the inflation outlook and how swiftly banks lower their lending rates.
- Reserve Bank of India (RBI) also said government economic reforms and the timing of any increase in U.S. interest rates would be key factors that will determine whether the central bank cuts rates for a fourth time this year.
- The RBI has reduced its policy rate by three-quarters of a percentage point since embarking on an easing cycle in January.
- The last cut lowered the repo rate to 7.25 percent on June 2.
- RBI’s next policy review is set for Sept. 29. That would be after the Fed’s September meeting, and any increase in U.S. rates is expected to suck money out of emerging markets.
IAS officer Rajan S Katoch got extension as Director of the Enforcement Directorate (ED).
- Apppointment Committee of the Cabinet (ACC) presided by PM Narendra Modi issued an order in this regard.
- Thus, Mr. Katoch will have three months additional tenure till October 31, 2015.
- Katoch is an IAS officer of 1979-batch of Madhya Pradesh cadre.
- He was appointed to top most post of Enforcement Directorate (ED) in March 2012 for three year term which was to end in January 2015.
- The Enforcement Directorate (ED) is a law enforcement agency and economic intelligence agency responsible for enforcing economic laws and fighting economic crime in India.
- It is part of and operates under the aegis of Department of Revenue of Union Ministry of Finance.
Naina Lal Kidwai, chairman of HSBC India announced to launch ’green bonds’ in India for raising funds for investments in environmental projects.
- Announcement was done by the HSBC chairman in a Ficci event held on 3 August 2015.
- The total investment attracted by Green Bonds in last two years is 37 million dollars. HSBC is the fourth largest issuer in the world.
About Green Bond :
- Green bond is a debt instrument with which a bond issuer gets capital while the investors receive fixed income in the form of interest.
- The issuer of green bond gets capital from the investors only if the investment is being raised to fund ‘green’ projects relating to renewable energy or emission reductions etc.
- Green Bonds in India was initially launched by Axis Bank and Yes Bank in February 2015 that attracted investment of 1,000 crore rupees against the target of 500 crore rupees.
Hindi litterateur Kashinath Singh chosen for the UP’s highest literary award Bharat Bharti for the year 2014.
- The award is given by UP Hindi Sansthan every year. It carries a cash prize of 5 lakh rupees.
- Singh has penned many novels and short stories. One of his most famous novel is Kashi ka Assi, which captures the vibrant hues of Banaras.
- Besides Singh, several other writers were also selected in various categories by a committee set up by Hindi Sansthaan.
List of Awardees :
- Mridula Garg for Lohia Sahitya category
- Vinod Kumar Shukla for Hindi Gaurav category
- Krishna Bihari Mishra for Mahatama Gandhi Sahitya Samman
- Abhiraj Rajendra Mishra for Deendayal Upadhaya Sahitya Samman
- Ramkrishna Rajput for Avantibai Sahitya Samman
Railway Police Launches “Operation Muskaan”, an initiative to trace missing and destitute children and reunite them with parents.
- Operation Muskaan was launched by the railway police on 1 July 2015 from Dindigul railway station of Tamil Nadu.
- Aim : To prevent child trafficking and rescue children from persons who tried to engage them in begging, sexual trade and other antisocial activities.
- It came into news after Gurgaon Police traced 1094 children in Haryana during the month-long operation.
- Of the 1094 children traced under the operation, 263 were living in shelter homes, while 831 children were traced from different places.
- Out of the 831 children, 809 have been reunited with their parents, while the remaining 22 have been lodged in shelter homes.
Bharti Airtel, India’s largest telecom operator acquired YTS Solutions a mobile payments solutions company for an undisclosed price.
- YTS Solutions will be integrated with the operations of Airtel Money Services Ltd a subsidiary of Airtel.
- This acquisition will help Airtel to expand its footprint in the payments sector by integrating business capabilities and unique service delivery model of the YTS.
- In line with this acquisition the co-founder and MD of YTS Solutions, Manish Khera, will be appointed as CEO of Airtel M Commerce Services Ltd (AMSL) which offer wallet service under the brand name ‘Airtel Money’.
Former Madhya Pradesh (MP) Minister and senior Bhartiya Janta Party (BJP) leader Jagannath Singh passed away on 3 August 2015 in Bhopal after prolonged illness. He was 69.
- He is survived by wife, three sons and a daughter.
- Singh had served as Labour Minister of Madhya Pradesh from 2008 to 2013 in the BJP government led by incumbent MP Chief Minister Shivraj Singh Chouhan.
- In 1977, he was elected as a Member of Legislative Assembly (MLA) for the first time from Devsar constituency.
- Later, he was elected as a MLA thrice in his political career, twice as a Lok Sabha member from Sidhi constituency and once as a Rajya Sabha member.
Justice Iqbal Ahmed Ansari was on 3 August 2015 appointed as Acting Chief Justice of Patna High Court.
- Ansari was appointed by President Pranab Mukherjee under article 223 of the Constitution of India with effect from 1 August 2015.
- Ansari is a senior-most Judge of Patna High Court.
- Ansari succeeded Justice Lingala Narasimha Reddy, Chief Justice of Patna High Court, who retired on 1 August 2015.
- In his career, Ansari has worked as a District & Sessions Judge as well.
- In June 1999, he joined Gauhati High Court Registry and at the time of his elevation, he was Registrar General of Gauhati High Court.
- He also underwent training on the subject of Gender and Law at Warwick University in UK.
National Thermal Power Corporation (NTPC) Limited partnered with Jharkhand Bijli Vitran Nigam Limited (JBVNL) to form a joint venture (JV) company for Patratu Power Plant.
- The agreement will help optimise utilisation of improve performance, assets and expand capacity of Patratu Thermal Power Station located in Ramgarh district of Jharkhand.
- JV company will have 74 per cent share or stake of state-run NTPC while JBVNL will have the rest 26 per cent stake.
- It will work to improve the performance of the existing power stations in Jharkhand in order to gradually provide more power to the state.
‘Frisbee’ recognized officially as an Olympic sport by International Olympic Committee.
- The decision was taken at the 128th IOC Session held in Kuala Lumpur, Malayasia by giving official recognition to World Flying Disc Federation (WFDF).
- It was included as Olympic sport after WFDF had meet all the criteria including having 62 national federations members and gender equality.
- Olympic recognition to this sport now opens the door to the some financial support from the IOC and participation in the Olympic Games.
- Frisbee is the sport of flying disc which became popular in the 1960s and 70s.
- Presently, WFDF governs several Frisbee events including Beach Ultimate, Ultimate Frisbee and field events.
