Important current affairs : 23 August 2015 – Amitabh Mattoo appointed as Advisor to J&K CM.

  • He is renowned academician and former Vice-Chancellor of the Jammu University.
  • Amitabh Mattoo appointed as Advisor to Jammu and Kashmir (J&K) Chief Minister (CM) Mufti Mohammad Sayeed.

RBI committee recommended conversion of UCBs with business size of 20000 crore ruppes or more into regular banks.

This recommendation was given by the High Powered Committee on UCBs headed by RBI Deputy Governor R Gandhi in its report.

Important Points of Recommendation :

  • Conversion of UCBs will not be compulsory for large UCBs and they can continue the way they operate currently in terms of asset size and balance sheet.
  • Large UCBs can convert themselves into commercial banks in order to minimise the systemic risk.
  • For conversion, smaller UCBs with business size of less than 20,000 crore rupees who are willing to convert to Small Finance Banks can apply to the RBI.
  • Licenses for conversion to operate as UCBs will be issued to well-managed and financially sound cooperative credit societies having a minimum track record of 5-years.
  • With the conversion, UCBs will be allowed to grow and proliferate further to meet the objective of financial inclusion.

Union Finance Ministry appointed committee chaired by retired SC judge A P Shah has recommended that Minimum Alternate Tax (MAT) to be imposed on FIIs retrospectively for the period preceding 1st April 2015.

  • This recommendation is considered as a big relief to FIIs as government had exempted them from MAT starting April 1, 2015 in the Union Budget for 2015-16 but had not made the clarification retrospective imposition.
  • In its report committee has mention that there is no legal basis for levying 20 per cent MAT on past capital gains of FIIs.

NR Varhadpande, eminent vedic scholar passes away on 21st aug 2015.

  • He was famous for his book titled “Aryan Invasion: A Myth”.
  • An ardent student of Psychology, Varhadpande worked as the Chief Psychologist with the Ministry of Defence and was instrumental in devising various Psychological tests for the armed forces personnel.

Aditi Ashok becomes first Indian to wins Ladies British Amateur stroke play championship 2015 at Leeds, UK.

  • She is the first woman and youngest player from India to win this Championship.
  • In her wining game, Aditi shot a four-day total of 11-under 285 (comprising 71, 73, 70, 71) at the par 74 at the Moortown Golf Club, Leeds.
  • The 17-year-old Bengaluru based golfer earlier had won the prestigious St. Rule Trophy in July 2015. She also had finished second in the 2015 European Women’s Amateur Championship. She also had claimed the overall title called ‘The Nicholls Trophy’ and ‘Dinwiddy Trophy’ which are given for the under-18 golfer with lowest score.

Attempt : IBPS Clerk 2015 prelims mock test

Cricketer Arthur Morris of Austrailia passed away at age of 93.

  • He was an opener and is was one of Australia’s greatest left-handed batsmen.
  • Morris is best known as member of Don Bradman’s 1948 ‘Invincibles’ team which made an undefeated tour of England.
  • He had retired from international cricket at the age of 33.
  • Morris was the first Australian batsman to score centuries in both innings of his first-class debut at the age of 18 years. He was born in Sydney on 19 January 1922.

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