June 2015 Current Affairs Capsule

Person in News

Ameenah Gurib-Fakim

The government of Mauritius designated Ameenah Gurib-Fakim as the Indian

Ocean Island nations new president, making her the first woman to hold the

ceremonial position.

o Gurib-Fakim, 56, will be the first female President of the Island, which gained

independence from Britain in 1968 and which replaced Britains Queen Elizabeth

II as its head of state in 1992.

o Mauritius is one of the richest, and least corrupt, countries in Africa, a middle-

income country of some 1.3 million people with a per capita GDP of just over

$9,000 (7,200 euros).

o Gurib-Fakim is currently director of the Mauritius-headquartered Centre for

Phytotherapy Research (CEPHYR), which carries out research on plants for

use in cosmetics, nutrition and therapy.

Shri Vijai Sharma

Shri Vijai Sharma (Indian Administrative Service:1974), Information

Commissioner in the Central Information Commission, New Delhi, has been

appointed as the Chief Information Commissioner.

o Shri Sudhir Bhargava (Indian Administrative Service:1979), retired Secretary,

Ministry of Social Justice and Empowerment, has been appointed as

the Information Commissioner in the Central Information Commission, New

Delhi.

o The above appointments have been made for a term of five years from the date(s)

on which they enter upon their office(s) or till they attain the age of sixty five years,

whichever is earlier.

o Central Information Commission, which is mandated to resolve appeals and

complaints filed against government departments or public authorities by

information seekers under the Right to Information Act, has been working

without a Chief for over nine months, after the tenure of CIC Rajiv

Mathur ended on August 22, 2014.

Shri K.V. Chowdary

Shri V. Chowdary (Indian Revenue Service:1978) retired Chairman of Central

Board of Direct Taxes (CBDT) has been appointed as the Chief Vigilance

Commissioner (CVC), New Delhi.

o Shri M. Bhasin, Chairman & Managing Director, Indian Bank, has been

appointed as the Vigilance Commissioner in the CVC, New Delhi.

o The above appointments have been made for a term of four years from the date(s)

on which they enter upon their office(s) or till they attain the age of 65 years,

whichever is earlier.

o Chowdary, a former Indian Revenue Service (IRS) officer, is working as an

Adviser in Supreme Court appointed Special Investigation Team (SIT) to

check black money.

o CVC is conceived to be the apex vigilance institution, free of control from any

executive authority, monitoring all vigilance activity under the Central

Government and advising various authorities in Central Government

organizations in planning, executing, reviewing and reforming their vigilance

work.

Sharad Pawar

Maratha strongman Sharad Pawar was unanimously re-elected as the president

of Nationalist Congress Party (NCP), a post he has occupied since he founded

the party in 1999 after parting ways with Congress.

Mogens Lykketoft

The United Nations General Assembly has elected by acclamation Mogens

Lykketoft of Denmark as President of its upcoming 70th session.

o Addressing delegates immediately after his election today at UN Headquarters in

New York, Mr. Lykketoft, who has served both as Denmarks Foreign and Finance

Ministers, declared that his Presidency would be marked by a commitment to

action towards building a more fair and stable world in line with the objectives

set out by the UN Millennium Development Goals.

o Made up of all the 193 Member States of the United Nations, the General

Assembly provides a forum for multilateral discussion of the full spectrum of

international issues covered by the UN Charter. It meets in regular session

intensively from September to December each year, and thereafter as required.

CNR Rao

Eminent scientist and recipient of Bharat Ratna CNR Rao was conferred Japans

highest civilian award for promoting academic interchange and mutual

understanding in science and technology between the two countries.

o He was presented with the Order of the Rising Sun, Gold and Silver

Star and certificate by Japanese ambassador to India Takeshi Yagi in the

presence of senior officials of the Department of Science and Technology, which

Rao has helped shape up over the years.

o The highest civilian award of Japan is conferred on academicians, politicians and

military officers.

o Rao had been bestowed with about 70 honorary doctorates and is the Linus

Pauling Research Professor and honorary president of the Jawaharlal

Nehru Centre for Advanced Scientific Research, Bangalore.

o He is the only Indian to be elected as a foreign member of the Japan Academy.

o He is also credit for shaping several premier technical institutes in the country

such as IIT Kanpur and has authored over 1000 research papers and 36 books.

o He had also worked as the Chief Science Advisor to Prime Ministers of

India.

Nikesh Arora

India-born former Google executive Nikesh Arora has been appointed

the President of Japans telecommunications giant SoftBank Corp that paid the

rising star a whopping USD 135 million for the financial year 2014.

o Mr Arora, 47, was appointed company president and chief operating officer at a

general meeting of shareholders here.

o In less than a year at SoftBank, Mr Arora has already directed about 200 billion

yen ($1.67 billion) worth of deals that include investments in Indian technology

start-ups Snapdeal, an online marketplace, and taxi-booking service Ola Cabs,

Nikkei Business Daily reported.

Cristiano Ronaldo

Cristiano Ronaldo, one of the brightest stars of modern football, has a galaxy

named after him.

o COSMOS Redshift 7 or CR7, as its popularly known, is one of the oldest

galaxies in the universe. Its said to have existed when the universe was only 800

million years old, i.e. some 13 billion years ago.

o The Portugal captain and the Real Madrid superstar was bestowed with the honour

by the European Southern Observatory(ESO).

o The ESO described the CR7 galaxy as by far the brightest galaxy yet found in the

early Universe.

Sister Nirmala Joshi

Sister Nirmala Joshi, who succeeded Mother Teresa as the head of

the Missionaries of Charity founded by the Nobel laureate, died here this

morning.

o She was 81. A Missionaries of Charity official said Sister Nirmala was not keeping

well for the past few days and her health was gradually deteriorating.

o On March 13, 1997, six months before Mother Teresas death, Nirmala

Joshi was selected the Superior General of the Missionaries of Charity. She

expanded the organisations reach to 134 countries by opening centres in nations

such as Afghanistan, Israel and Thailand.

Dileep Singh Bhuria

Senior BJP leader and Lok Sabha MP from Madhya Pradesh Dileep Singh

Bhuria, one of the prominent tribal faces of the saffron party, passed away after a

brief illness at a hospital in Gurgaon today.

o Bhuria started his political career with Congress and first made it to Parliament

from Jhabua, a tribal-dominated district in Madhya Pradesh which he made

his pocket-borough in 1980 when Indira Gandhi swept back to power at the

Centre.

o He won Jhabua Lok Sabha seat five times consecutively from 1980 to 1996.

o Born on June 19, 1944, Bhuria began his legislative stint in the state in 1972 when

he was elected MLA from Petlawad seat in Jhabua district.

o He served as National SC/ST Commission Chairman during the Vajpayee

government. Bhuria also joined Gondwana Gantantra Party for a brief period.

Zaheer Abbas

Former Pakistan captain Zaheer Abbas has assumed the role of the ICC

President on day three of the apex cricket bodys Annual Conference week here.

o Zaheer began his one-year term and thanked the ICC Board and the Full

Council for confirming his nomination.

o Zaheer, 67, played 78 Tests and 62 ODIs from 1969 to 1985 in which he scored

5,062 and 2,572 runs, respectively. He also played in the 1975, 1979 and 1983 ICC

Cricket World Cups and captained Pakistan in 14 Tests and 13 ODIs.

o With 108 centuries, Zaheer is the only Asian batsman to score a century of first-

class centuries as he finished his 22-year career with 34,843 runs.

o Zaheer was also an ICC match referee in the 1993 series between Sri Lanka and the

West Indies in Sri Lanka.

o The ICC has 105 members. The ICC President is required under the bodys

Memorandum and Articles of Association to be an iconic former international

cricketer of high standing and repute (unless truly exceptional circumstances

mean that nobody so qualified is available).

Satnam Singh Bhamara

Satnam Singh Bhamara, a 19-year-old from the small village of Ballo

Ke, Punjab, became the first Indian-born player ever selected in the NBA Draft.

o The Dallas Mavericks chose the 7-foot-2, 290-pound center with the 52nd

overall pick in the 60-pick draft.

o The groundbreaking news comes less than three months after Canadian-born 22-

year-old Sim Bhullar a giant himself at 7-foot-5, 360 pounds became the first

player of Indian descent to sign an NBA contract and appear in an NBA game.

Rahul Agarwal

Technology major Lenovo today said it has appointed Rahul Agarwal as

the Managing Director of its India operations with immediate effect.

National Affairs

A web portal to be used as social medium for people to share information about

missing children was launched by the government here.

o Women and Child Development Minister Maneka Gandhi and IT

Minister Ravi Shankar Prasad jointly launched the website Khoya-Paya,

a platform for citizens to report children sighted as abandoned, lost or with

suspicious person.

o Besides enabling those who spot a missing child in suspicious circumstances to

upload data along with photo, the portal will allow parents to upload information

about their missing children in real time.

o According to National Crime Record Bureau, the figure of missing children

every year is 70,000. In 2010 and 2011, it was 77,000 and 90,000 respectively.

While in 2012 and 2013, 65,000 children went missing. The total number of

recovered children from January 2012 and April 2015 is 23,597.

o The portal is developed by Women and Child Development Ministry in partnership

with Information Technology and Communications.

India and US signed a new strategically important 10-year defence framework

agreement setting the stage for co-development and manufacture of defence

equipment and technology besides holding joint exercises and greater intelligence

sharing.

o The agreement, which was decided during the visit of US President Barack

Obama to India in January and focuses on issues ranging from maritime

security, aircraft carrier to jet engine technology cooperation, was inked by

Defence Minister Manohar Parrikar and visiting US Defence Secretary Ashton

Carter.

o The signing of the agreement comes as the two countries moved ahead on two of

the four pathfinder projects identified under the Defence Trade and

Technology Initiative (DTTI) during Obamas visit.

o One of the projects is the development of a high-tech mobile power source for

the Marine Corps that would work on solar energy, be smaller, more portable

and efficient, and which could be used in remote outposts.

o The other is a protective suit for the Indian Army that would be more

lightweight and effective when used in chemical and biological hazard incidents.

o During Obamas visit, both countries had identified four pathfinder projects as

well as decided to explore development of aircraft carrier technologies and jet

engines.

Marking the World Environment Day on June 5, Prime Minister Narendra

Modi planted a sapling at the lawns of his Race Course Road residence and

exhorted people to work for protecting the environment for the sake of future

generations.

Land Boundary Agreement

India and Bangladesh opened a new chapter in their ties as they settled the 41-

year-old boundary dispute and promised to do more in other areas amid Prime

Minister Narendra Modis announcement of a fresh line of credit of USD 2

billion to the neighbouring country.

o The two sides exchanged documents regarding the Land Boundary

Agreement (LBA) that was passed unanimously by the Parliament last month in

the presence of Modi and his Bangladeshi counterpart Sheikh Hasina besides

West Bengal Chief Minister Mamata Banerjee.

o The exchange of documents paves way for the operationalisation of the 1974

India-Bangladesh LBA that provides for exchange of 161 enclaves between

the two countries.

o A total 111 border enclaves will be transferred to Bangladesh in exchange

for 51 that will become part of India.

o Under the agreement, India will have an advantage of 500 acres and 10,000

acres will go to Bangladesh.

o The agreement settles the question of citizenship for over 50,000 people.

o The issue has been a major irritant in ties between the two countries which share

a 4,096-km-long border, most of which is porous.

o Boundary pact was signed in 1974 by the then Prime Minister Indira

Gandhi and Bangladeshs founder Sheikh Mujibur Rahman to settle the

border issue.

A Memorandum of Understanding was arrived at between India and

Netherlands for development of vaccines.

o The MoU signed under Make in India initiative of Government of India will

enable the Bharat Immunologicals and Biologicals Corporation

Ltd (BIBCOL), a Central PSU under Department of Biotechnology, to

develop Measles Rubella vaccine at its plant at Chola, Bulandshahr, U.P.

o Translational Vaccinology (INTRAVACC) a government-based institute of the

Netherlands will extend technical support for the development of vaccine. The

MoU was signed in the august presence of the Prime Minister of The

Netherlands Shri Mark Rutte during his visit to New Delhi.

India and Bangladesh inked as many as 22 agreements, including on curbing

human trafficking, smuggling of fake currency and setting up an Indian Economic

Zone, to boost bilateral ties.

o The agreements were signed on the first day of Prime Minister Narendra

Modis maiden visit in the presence of other leaders, including Bangladeshi

premier Sheikh Hasina and West Bengal Chief Minister Mamata Banerjee.

o Exchange of Instruments of Ratification of 1974 Land Boundary

Agreement and its 2011 Protocol; Exchange of letters on Modalities for

implementation of 1974 Land Boundary Agreement and a renewed Bilateral

Trade Agreement were inked during Modis two-day visit.

o Agreements on two key bus services were also reached, including the Kolkata-

Dhaka-Agartala route that will benefit the commuters by reducing travel time

by nearly one-third.

o Another Dhaka-Shillong-Guwahati route was also flagged off by the three

leaders.

o Memorandums of Understanding (MoUs) on Prevention of Human

Trafficking; Prevention of Smuggling and Circulation of Fake Currency

notes; and setting up an Indian Economic Zone were also reached by the two

sides.

o In another key development, a Memorandum of Understanding for Extending

a New Line of Credit (LoC) of USD 2 billion by India to Bangladesh was

signed.

o A renewed Protocol on Inland Water Transit and Trade besides an

Agreement on Coastal Shipping between Bangladesh and India were among the

other deals reached.

Water Resources minister Uma Bharti launched Jal Kranti campaign here

in Jaipur, emphasising that the water preservation and conservation initiative will

not be successful unless it is converted into a mass movement.

o The Jal Kranti Abhiyan will be celebrated across the country during 2015-16 to

consolidate water conservation and management through a holistic and integrated

approach.

o The chief component under the campaign is the Jal Gram Yojana, whereby one

village facing acute water scarcity would be selected from each of the 672

districts in the country.

o The scheme will identify and train a cadre of local water professionals, preferably

women panchayat members, to be called Jal Mitra who will create mass

awareness about water problems.

o The scheme also provides for a Sujalam Card which will provide annual

status/information about the quality of drinking water available for a Jal Gram.

The Union government has launched an insurance pool of Rs. 1,500 crore,

mandatory under the Civil Liability for Nuclear Damage Act to offset the

financial burden on foreign nuclear suppliers in case of an accident.

o The announcement was made here on Saturday by Union Minister of State in

the Department of Atomic Energy Jitendra Singh.

o The Civil Liability for Nuclear Damage Act, 2010 (CLND), had suggested

that the nuclear insurance pool be made operational with funds of Rs 1,500

crore.

o R K Sinha, Secretary in the Department of Atomic Energy, said this would be a

solution for suppliers concerns about liability from nuclear risks.

o Clauses in the CLND Act, which give the operator the Right to Recourse and allow

it to sue the suppliers in case of any accident were seen as being a major hindrance

to the growth of the nuclear industry. These concerns led to to the formation of the

Indian nuclear insurance pool.

o Under the Rs 1,500 crore pool, set up by General Insurance Corporation of

India (GIC Re) and 11 other non-life insurers including New India, Oriental

Insurance, National Insurance and United India Insurance from the public sector

apart from private insurance companies, policies offered will be a nuclear

operators liability insurance policy and a nuclear suppliers special contingency

(against right to recourse) insurance policy.

The Election Commission suspended the recognition of P A Sangmas

National Peoples Party for failing to file its election expenditure statement for

the 2014 Lok Sabha elections.

o Exercising power under para 16A of the Election Symbols (Reservation and

Allotment) Order 1968, the Election Commission of India has suspended the

recognition of the National Peoples Party, a recognized state party in

Meghalaya, due to its failure in filing the election expenditure statement of the

party, the EC said.

o This is for the time that the poll watchdog has taken such a step of suspending

recognition of a party using its powers under Election Symbols (Reservation

and Allotment) Order 1968 for its failure to follow the Lawful directions of

the Commission, EC said in a statement.

o The party had requested time to submit its expenditure statement by April 15, 2015

and again May 15, 2015 but failed to honour the deadline

The Union Minister of State (Independent Charge) Development of North-Eastern

Region (DoNER), MoS PMO, Personnel, Public Grievances & Pensions, Atomic

Energy and Space, Dr Jitendra Singh launched an Augmented Reality (AR)

application named Sakaar to highlight the achievements of the Department of

Space during one year in office of the present Government. DECU-ISRO has

developed this application for Android devices.

o Sakaar consists of 3D models of MOM, RISAT, rockets (PSLV, GSLV Mk-III);

videos of INSAT 3D-predicting cyclones, GSLV D5/Cryo, Mars Orbiter Mission

(MOM) orbit insertion, launch video of MOM, 360 degree animated view of MOM;

Anaglyph of Mars surface. The sakaar app is loaded on webpage with the URL:

http://www.sac.gov.in/SACSITE/sakaar/index.html. The user can scan

the QR code using a QR code reader on the device for downloading the app.

o Augmented Reality is a live direct view of a physical, real-world environment

whose elements are augmented (or supplemented) by computer-generated 3D

models, animations, videos etc. The technology enhances users current perception

of reality. Augmentation is in real time and the information is overlaid on the live

view of the devices camera. Essentially, AR requires three elements: Android

device with back camera, AR application, AR Markers. The Multimedia content

which is embedded in the Sakaar app is generated with the support of multimedia

& editing facilities of DECU-ISRO.

o Shri S. Kiran Kumar, Secretary Department of Space and Chairman, ISRO

highlighted the achievements of Department of Space during the last one year such

as the launch of PSLV-C23, IRNSS-1C, IRNSS-1D, GSAT-16, LVM3-X/Crew

Module, successful ground testing of high thrust cryogenic engine for GSLV MkIII.

He also said that an MoU was signed between ISRO and CNES in April, 2015 and

between ISRO and China National Space Administration in September, 2014.

o The ISRO Chairman informed that various missions are planned for the upcoming

year 2015-16 including launch of PSLV-C28 in July, GSLVD6 in August,

ASTROSAT in September this year among others. The launch of IRNSS-1F and

IRNSS-1G are planned for beginning of the next year 2016, he informed.

Stepping up his digital presence, the Prime Minister launched Narendra Modi

Mobile App to provide instant updates and an opportunity to receive messages and

emails directly from him.

o The Android-based application is also aimed at giving a chance to people to

interact with him and share ideas and suggestions.

o The application description said, download the app and get the latest updates

anywhere, anytime! Highlights of the Narendra Modi app include receiving the

latest news and updates, exclusive opportunity to receive E-Mails & Messages

directly from the PM and Mann Ki Baat with the PM.

o Apart from providing a chance to interact with the Prime Minister and share ideas

and suggestions, it will also give latest thoughts from Modi and his blogs.

The Indian government launched a free SMS service called Nowcast to provide

alerts on extreme weather conditions like hailstorm every three hours to over one

crore registered farmers on their mobile phones.

o Besides, a web-portal on crop insurance was also unveiled to create awareness

and encourage more farmers to insure their crops taking advantage of existing

schemes. The Web portal, however, has been launched in English.

o The free SMS alerts, to be sent in English, Hindi and regional languages as per

farmers request, will be issued to over one crore farmers whose mobile phones are

already registered on the governments mKisan portal.

o The data for SMS service would be taken from the 146 weather stations of

the India Meteorological Department (IMD).

o In the second phase, the portal will be launched in Hindi and other regional

languages and will also provide an online interface for filing insurance applications

and scrutiny of the same by banks.

India offered its expertise to Tanzania in development of its potentially

rich natural gas sector and decided to extend e-tourist visa to people of the

African nation even as the two countries signed eight MoUs to expand engagements

in diverse areas.

o During extensive talks Prime Minister Narendra Modi had with Tanzanian

President Jakaya Mrisho Kikwete, both the countries also decided to establish

a Joint Working Group to strengthen cooperation in counter terrorism.

ISRO has said it will provide navigational support to the countrys Railways

through GAGAN (GPS-aided geo-augmented navigation) system.

o GAGAN is an indigenous navigational guide system developed by ISRO on the

lines of GPS system of the U.S.

o GAGAN was jointly developed by the ISRO and Airports Authority of India

(AAI) with a view to assist aircraft in accurate landing.

o The GAGAN signal is being broadcast through two Geostationary Earth Orbit

(GEO) satellites GSAT8 and GSAT10.

o ISRO will provide satellite-generated information to the railways through space

technology-based tools that will provide safety at unmanned level crossings.

o With the use of GAGAN software system, a train would know the location of any

unmanned level crossing and soon a a warning signal can be given.

o As soon as the warning signal will be given, the trains hooter will automatically

start when it comes near an unmanned crossing.

TheHaryana Government launched a Village Mentoring Project (VMP) to

improve healthcare and education of the villagers with a special emphasis on girl

child.

o The Village Mentoring Project (VMP)is the first of its kind in Haryana under

which villages in the state would be mentored by leading corporate houses,

educational institutions and other organizations.

o Each of the 22 districts in the state would be launching the project in a phased

manner in around five villages each, an official spokesman said.

o Project has been commenced in the state from Panchkula district in association

with Indian School of Business (ISB), Mohali whose faculty and students

would visit the village.

o The students and the staff of ISBpresented a street play on the theme of

Continuing girl education, sanitation, hygiene and nutrition and conducted a

counseling session with village residents.

UNHCR Indiamarked World Refugee Day with an exhibition of refugee photos

by world renowned photographer Raghu Rai in India International Center, New

Delhi.

o Every Year, on 20th June, the United Nationsalong with government and civil

society celebrate World refugee Day.

o The theme for the celebrations this year was With courage let us all

combine,aiming to bring the public closer to the human side of the refugee

stories by sharing stories of hope and resilience of displaced people, showing them

as ordinary humans living in extraordinary circumstances UNHCR

Prime Minister Narendra Modiled the first International Yoga

Day celebrations in the country, defining yoga as a means to train the human mind

to begin a new era of peace and harmony.

o The gathering at Rajpath, attended by Prime Minister Narendra Modi, set

record for Largest number of participants at 35,985and Most number of

nationalities at 84.

o Confirming this, an official release by the Ministry of AYUSHsaid -The Ministry

of AYUSH has been awarded with two Guinness World Records in two

different categories on the first International Day of Yoga.

o Category 1was for the largest number of participants in a Yoga Lesson at

single venue. The earlier record was of 29,973. To beat that record a target

of 30,000 was required. The Ministry broke that record as 35,985 participants

performed Yoga at Rajpath today morning.

o Category 2was most number of nationalists in a Yoga Lesson. To achieve

this at least participants from 50 countries were required to perform. But today

participants from 84 countries performed Yoga at Rajpath.

o Shri Shripad Yesso Naik. MoS(I/C). Ministry of AYUSHand Secretary

AYUSH received the awards which were presented by the representatives

of Guinness World Records Ms Victoria from UK and Marco Frigatti from

Italy.

o The Guinness recordwas earlier held by Vivekananda Kendra which

organised a yoga event in which 29,973 people participated in Gwalior on

November 19, 2005.

The Centre launched a mobile application, where the public can upload pictures

of pollution sources of the Ganga riverfor further action by the authorities

concerned.

o Union Water Resources Minister Uma Bhartilaunched Bhuvan Ganga

Mobile Application and web portal after signing of an MoU between

the National Mission for Clean Ganga (NMCG) and the National Remote

Sensing Centre (NRSC), ISRO to effectively plan and monitor the Centres

flagship Clean Ganga Mission here today, a statement said.

o Bhuvan Ganga portalis an exclusive web portal deployed in ISRO Bhuvans

geoportal with all geospatial layers related to river Ganga.

o It will be used as a tool to support decision making and planning for the Clean

Ganga Mission. Bhuvan Mobile App is a user-friendly android based application to

enable public to collect and report information on various pollution sources that

affects the water quality of river Ganga.

o The first version of the app is available for download in the Bhuvan Gangaweb

portal (http://bhuvan.Nrsc.Gov.In/ganga).

The International Day of Yogawas observed in all 192 countries except strife-

torn Yemen, the Union Cabinet was informed.

Prime Minister Narendra Modilaunched three urban development

schemes, AMRUT, Smart Cities Mission and Housing for All, saying

urbanisation should be viewed as an opportunity and urban centres should be seen

as growth engines.

o While 500 cities will be developed under AMRUT scheme, there would be 100

smart citiesover five years and Housing for All aims at construction of 2

crore houses in urban areas in the next seven years, Modi said.

o PM Modion Thursday pitched for maximum FDI in urban infrastructure and

involvement of private players as he launched three ambitious programmes for

provision of housing for all and development of 600 cities, 100 of them as smart

cities.

o The 100 Smart Citiesare proposed to be built through a competitive mechanism

on the basis of demand from the residents and municipalities instead of the

Central government imposing it, the Prime Minister said.

o Urban development initiatives, Smart Cities Mission and Housing for All, unveiled

by Prime Minister Narendra Moditoday, are likely to infuse Rs 4 lakh

crore once integrated with other missions like Digital India and Swachh

Bharat, say industry experts.

o The move is expected to help create as many as 34 lakh jobsin the country as the

decision will have significant multiplier effect for over 250 core and ancillary

sectors, including infrastructure, logistics and modern retail, they said.

Indiawas among the 50 founding countries that signed an agreement on Monday

providing the legal framework for the China-led USD 100

billion multilateral Asian Infrastructure Investment Bank (AIIB) which is

being seen as a rival to the US and Europe-dominated banking institutions.

o The 60-article agreement specified each members share as well as governance

structure and policy-making mechanism of the bank, which is designed to finance

infrastructure in Asia.

o The AIIBwill have authorised capital of $100 billion, and Asian countries will

contribute to up to 75% of the total capital. Each member will be allocated a share

of the quota based on their economic size, according to the agreement.

o China, India and Russia are the three largest shareholders, taking a 30.34%,

8.52%, 6.66% stake, respectively. Their voting shares are calculated at 26.06%,

7.5% and 5.92%.

o The AIIB is designed to finance infrastructure construction in the continent. The

AIIB was proposed by President Xi Jinpingin October 2013.

o Apart from China and India, some of the countries which signed the agreement

include Australia, Bangladesh, Brazil, Cambodia, Finland, France, Germany, Italy,

Jordan, Nepal, Netherlands, New Zealand, Norway, Pakistan, Portugal, Republic

of Korea, Russia, Saudi Arabia, Singapore, Spain, Sri Lanka, Sweden, Switzerland,

and the U.K.

o TheAIIB is expected to become operational by the end of the year.

India and Thailandsigned a number of important agreements, including

the double taxation avoidance treaty, and exchanged instruments of ratification

on the extradition treaty inked in 2013, which provides for the legal framework

for seeking extradition of fugitive offenders.

o The tax treatyprovides for the framework to avoid double taxation and

prevention of fiscal evasion with respect to taxes so as to promote bilateral

economic cooperation.

o The extradition treatysigned between the two countries in 2013 provides for the

legal framework for seeking extradition of fugitive offenders, including those

involved in terrorism, transnational crimes, economic offences etc.

o The treaty provides for the extradition of any person, who is wanted for trial or for

the imposition or enforcement of any sentence by one Contracting state and is

found in the territory of the other Contracting state.

o The two sides also signed a Memorandum of Understanding(MoU) on

the Establishment of Nalanda University. By signing this agreement,

Thailand joins other East Asian Summit countries in the establishment of Nalanda

University in Bihar.

The Railwayshas decided to grant automatic refund of tickets on cancellation

of trains similar to waitlisted e-tickets.

o Ministry of Railways have decided to grant automatic refund of Confirmed/RAC

e-tickets on cancellation of trains similar to waitlisted e-tickets. There shall not

be any requirement for cancellation/filing of TDRfor refund of e-tickets in case of

cancellation of trains. This will become effective very shortly.

o In case of cancellation of trains, PRS counter ticketshall continue to be

refunded across the reservation counter as per the existing provisions.

International Affairs

Bangladesh honoured former premier Atal Bihari Vajpayee for his outstanding

support for the countrys independence from Pakistan in 1971 when he was a Lok

Sabha member.

o A Foreign Ministry spokesman familiar with the process said Bangladesh will

hand over Vajpayees Friends of Bangladesh Liberation War Award to

Prime MinisterNarendra Modi during his upcoming visit to the country from

June 6.

o The then Indian primeminister Indira Gandhi was the first foreign friend to be

conferred with the Bangladesh Liberation War Honour Award.

o Most of the subsequent recipients were also from India which extended the most

crucial support for Bangladeshs independence with incumbent President Pranab

Mukherjee being one of them.

Mexican President Enrique Pena Nietos party won congressional elections,

retaining its simple majority despite protests and falling approval ratings, according

to preliminary results.

China launched a freight train service between its northeastern city of Harbin and

Europe, opening a new trade route to Europe covering a distance of nearly 10,000

kms.

o During the 9,820-km-long travel, the train will pass Russia and Poland before

reaching its destination of Hamburg, Germany, said Tu Xiaoyue, general manager

of HAO Logistics Co., Ltd, a joint venture which runs the service.

o The train will be run once every week and each single trip takes 15 days. It will

transport goods from China, the Republic of Korea and Japan as well as European

countries such as Germany, Poland, France, Spain and Italy.

o Several Chinese cities, including Chongqing, Chengdu, Changsha, Hefei, Yiwu and

Suzhou, have launched similar freight train services to Europe.

Amid US pressure, Pakistan suspended its order and allowed international aid

agency Save the Children to resume operations, days after it sealed the NGOs

office here for alleged anti-nation activities.

Japans parliament passed a bill to lower the voting age to 18 from 20, adding

2.4 million new potential voters to the nations current voting population of 104

million.

o The legislation will come into effect in time for next years upper house

election.

o The last time Japans voting age was revised was in 1945, when the voting age was

lowered to 20 from 25, and women were given the right to vote.

o The new law puts Japan in line with nearly 90% of the worlds countries in setting

the minimum voting age at 18.

Keith Vaz, Britains longest-serving Indian-origin MP was re-elected as chair of

Parliaments influential Home Affairs Select Committee, even as a controversy

rages over his help to scam-tainted former IPL chairman Lalit Modi in obtaining

British travel documents.

Chinese authorities have manufactured the worlds first electric passenger

aircraft.

o It is priced at about one million yuan ($163,000).

o The BX1E has a 14.5-metre wingspan and a maximum payload of 230kg. It can

fly at an altitude of 3,000 metres, according to the report.

o It can be charged within two hours, and can fly for 45 minutes to an hour at a

maximum speed of 160kmph.According to the manufacturer, the aircraft can be

used for pilot training, tourism, meteorology and rescue operations.

o The plane was designed by the Shenyang Aerospace

University and Liaoning general aviation academy in the northeastern

Liaoning province.

o The total number of orders has reached 28.

India has moved down to 61st place in terms of foreigners money in Swiss

banks and it now accounts for a meagre 0.123 per cent of the total global wealth

worth USD 1.6 trillion in Switzerlands banking system.

o In a first major admission of being an attractive location for laundering of assets

amassed illegally abroad, Switzerland has said it needs to further strengthen

systems for combating money laundering and terrorist financing.

China opened a new, safer and more convenient route for Indians undertaking

the arduous Kailash-Manasarovar Yatra as the first batch of pilgrims crossed the

Indian border and entered Tibet via Nathu La.

In a landmark opinion, a divided Supreme Court ruled that same-sex

couples can marry nationwide, establishing a new civil right and handing gay

rights advocates a historic victory.

o Nearly 46 years to the day after a riot at New Yorks Stonewall Inn ushered in

the modern gay rights movement, the decision could settle one of the major civil

rights fights of this era.

o The U.S.A is now the 21st country to legalize same-sex marriage nationwide,

including territories. Married same-sex couples will now enjoy the same legal

rights and benefits as married heterosexual couples nationwide and will be

recognized on official documents such as birth and death certificates.

o The decision affirmed growing public support in the U.S.A for gay marriage, with

about two-thirds of Americans now in favor.

o Several hundred gays, lesbians and transgender people held a Gay Pride rally in

the Philippine capital to push for LGBT rights and to celebrate the US Supreme

Court decision recognizing gay marriages in all US states as a victory for their

cause.

Economy

Bangladesh has granted permission to the Life Insurance Corporation of

India (LIC) to run its business, making it the second foreign insurance company to

operate in the country, officials said.

The United States has overtaken Saudi Arabia as the worlds biggest oil

producer in 2014 while India has recorded the highest growth in energy

consumption among major economies.

o The US produced 15.9% more oil in 2014 at 11.6 million barrels of oil per day to

topple Saudi Arabias 11.5 million bpd production, according to BP Plcs

Statistical Review of World Energy released.

o Russia with 10.8 million bpd oil production was placed third.

o The US surpassed Russia as the worlds largest producer of oil and gas, producing

1,250.4 million tons of oil and oil equivalent natural gas in 2014. This compared

with Russias 1,062 million tons of oil equivalent.

o BP said the US shale revolution helped it overtake Saudi Arabia as the worlds

biggest oil producer and surpass Russia as the worlds largest producer of oil and

gas.

o India posted a 7.1% rise in energy consumption, the fastest among major

economies and second only to Algerias 8.4% expansion.

In a move to cut debts, Indias largest private miner Vedanta Ltd headed by

billionaire Anil Agarwal will absorb oil firm Cairn India in a USD 2.3

billion all-share deal to create Indias largest diversified natural resources company.

o Vedanta will use Rs 16,867 crore cash lying with Cairn to pay off part of its Rs

77,752 crore debt.

o Vedanta, previously known as Sesa Sterlite Ltd, in 2013 consolidated its iron

ore mining business by merging Sesa Goa Ltd with Sterlite Industries (India) Ltd,

which ran copper and aluminium businesses.

o The merger will help Cairn spread its risk from volatile oil business to other

metals and commodities.

o Shareholders in Cairn India, the countrys top private oil producer, will get one

ordinary share and 7.5 percent redeemable preference share of Vedanta Ltd with a

face value of Rs 10.

India achieved a milestone with the signing of a motor vehicles pact with

Bhutan, Nepal and Bangladesh enabling seamless transit of passenger, cargo and

vehicles with the first stage of the USD-8 billion road connectivity project set to

begin in October.

o India signed a major motor vehicles pact with three SAARC nations Bhutan,

Bangladesh and Nepal that will enable seamless transit of passenger amongst

them.

State-run telecom firm BSNL from 15th june started offering free roaming across the

country, which will allow all its mobile customers to receive calls at no extra cost.

o Government under National Telecom Policy 2012 has set a goal to achieve free

roaming gradually.

o BSNL had a mobile subscriber base of 7.72 crore as of March, 2015.

o From today no more roaming charges on BSNL. a step towards realising dream of

One Nation-One Number. A promise kept, Telecom Minister Ravi Shankar

Prasad.

State-run BSNL will set up 40,000 wi-fi hotspots across the country, entailing an

investment of about Rs 6,000 crore.

o The tender for the project is likely to be floated by July and it will be completed

by 2018.

o BSNL will set up 40,000 wi-fi hot spots across the country and the project is likely

to be completed by 2018, Telecom Minister Ravi Shankar Prasad said while

launching wi-fi facility at Taj Mahal.

o The minister added that estimated investment by BSNL for this would be around

Rs 6,000 crore.

o The company also inaugurated wi-fi facility at Taj Mahal as part of the

governments plan to put such services at major tourist places.

o This year BSNL will set up another 2,500 wi-fi hot spots at 250 locations at the

cost of Rs 500 crore. BSNL CMD Anupam Shrivastava said that of these 200

hot spots have already been set up.

o BSNL will be providing free wi-fi services for 30 minutes per 24 hrs (three

times in a month) which visitors can utilise in multiple sessions.

o After free usage limit of 30 minutes is exhausted, one can continue using the

service on paid basis for which subscription plans are available in the

denomination of Rs 20, Rs 30, Rs 50 and Rs 70 for validity of 30 min, 60 min, 120

min and one day, respectively.

o BSNL has also plans to expand the coverage of the wi-fi facility to other tourist and

religious locations such as Khajuraho and Jagannath, amomg others by

March.

Retirement fund body EPFO notified an order to make Universal Account

Number (UAN) mandatory for all employers covered under the Employees

Provident Funds and Miscellaneous Provisions Act 1952.

o The government was considering the proposal to make UAN mandatory for

availing of benefit of the scheme. The UAN facility was launched by Prime

Minister Narendra Modi in October last year.

o The UAN remains portable throughout the lifetime of an employee and they dont

have to apply for PF transfer claims at changing jobs.

o The Employees Provident Fund Organisation (EPFO) had issued over four

crore UANs to employers across the country in July last year.

India leads regional inflow of Foreign Direct Investment (FDI) in South

Asia accounting for $ 34 billion investment during 2014 and the upward trend is

likely to continue this year also, according to a UN report which placed China as

the worlds largest FDI recipient.

o FDI inflows to the country (India) surged by 22 per cent to about $ 34 billion

improving its position to 9th top host country for FDI in 2014, over its rank of

15th in 2013, the UNCTADs World Investment Report 2015

o The top five recipients in South Asia of FDI inflows were India, followed by

Iran, Pakistan and Bangladesh ($ 2 billion each) and Sri Lanka ($ 1 billion).

o According to the report, China became the worlds largest recipient of FDI

($ 129 billion) toppling the US ($ 92 billion).

o The US had the largest outward flow of FDI ($ 337 billion) followed by Hong

Kong-China ($ 142 billion) and China ($ 116 billion).

Private insurer Bajaj Allianz has launched a weather-based crop insurance

scheme for orange crops in Nagpur, Hingoli and Washim districts

of Maharashtra.

o The index-based insurance policy will cover losses incurred by orange fruit-

growing farmers due to deviation in weather conditions and has been approved by

Central and the State government, a company release issued here said.

o The losses would be assessed on the basis of pre-defined and government-

approved term sheets and actual weather data received from an approved

automatic weather station installed in each block of these districts.

o Farmers who have taken loan through Kissan Credit Card (KCC) would

automatically get insured (for the scheme) by their banks, while those who dont

have KCC but savings accounts need to visit the bank branches and authorise the

banks to enrol them in the scheme.

Banking & Finance

Second Bi-monthly Monetary Policy, 2015-16

EMIs on home and auto loans will come down with SBI & other banks cutting

lending rates within hours of RBI slashing policy rate by 0.25 per cent for the 3rd

time this year.

o RBI cut the repo rate (short-term lending rate) from 7.5 per cent to 7.25, but

left all other policy tools like cash reserve requirement unchanged at 4 per

cent andStatutory Liquidity Ratio at 21.5 per cent.

o But the move comes with a message that any further cut this year is unlikely.

Articulating the concerns of the RBI over the expected poor monsoon and crude

oil prices, Governor Raghuram Rajan expressed fears that a monsoon shock

could push up food prices and challenge its control over inflation.

o The Reserve Bank lowered the economic growth forecast for the current fiscalto

7.6 per cent from 7.8 per cent projected in April, citing various risks, including

poor monsoon and rising crude oil prices.

o Current account deficit is estimated to be around 5 per cent of the GDP in

the current fiscal, helped by sharp fall in oil prices even as gold imports rose in the

past few months, the Reserve Bank said today.

RBI in its First Bi-monthly Monetary Policy Statement, 2015-16 said banks will

be allowed to invest in bonds issued by other banks to fund long-term infrastructure

projects and affordable housing.

o In its latest circular on cross-holding of long-term bonds by banks for financing

infrastructure and affordable housing, the RBI said banks investment in such

bonds will not be treated as assets with the banking system in India for the

purpose of calculation of net demand and time liability (NDTL).

o NDTL (or deposits) is used to determine the cash reserve ratio (CRR) slice of

deposits that banks have to place with RBI and the statutory liquidity

ratio (SLR) the portion of deposits that banks have to invest in government

securities.

o Currently, the CRR is at 4 per cent of NDTL and the SLR is at 21.5 per cent of

deposits.

o Banks investment in such bonds will not be treated as assets with the banking

system in India for the purpose of calculation of NDTL.

o Investing banks investment in a specific issue of such bonds will be capped

at 2% of the investing banks Tier 1 Capital or 5% of the issue size, whichever is

lower.

o Banks cannot hold their own bonds.

Multi-lateral lender World Bank approved $250 million loan for Jhelum and

Tawi Flood Recovery Project for reconstruction of flood-affected public

infrastructure in Jammu & Kashmir.

o It will also strengthen the capacity of state government to respond and better

manage natural disasters in future, World Bank said in a release.

o The project will be funded by credit from World Banks concessionary

International Development Association (IDA).

o The loan has a maturity of 25 years, including a 5 year grace period.

o A continuous spell of rains in September 2014 had caused Jhelum, Chenab and

Tawi rivers, their tributaries and many other streams to flow above the danger

mark which had severely affected livelihoods in the state.

ICICI Bank, the countrys largest non-state lender, has named MK Sharma its

non-executive chairman. He will succeed KV Kamath, who will shortly step down

from the banks board after being nominated as the first president of the BRICS

development bank.

o Sharma, a former vice chairman of Hindustan Unilever, was an independent

director on the ICICI Bank board from 2003 to 2011.

An ordinance that will allow filing of cheque bounce case at the place where the

cheque was presented for clearance has been promulgated by President Pranab

Mukherjee.

o The President has promulgated the Negotiable Instruments (Amendment)

Ordinance, 2015, that will help lakhs of persons battling cheque bounce

cases far away from their places, official sources said.

o It is the 14th ordinance by the Modi government in a little over a year time.

o The ordinance will enable filing of cheque bounce cases in the place where the

cheque was presented for clearance or payment and not the place of issue.

o There are an estimated 18 lakh people facing cheque bounce cases across the

country.

o The Union Cabinet had on June 10 approved the ordinance.

Looking not to miss out on the e-commerce boom, private lender HDFC

Bank launched a mobile phone application, PayZapp, for online payments and

money transfer.

o In PayZapp, SmartBuy will help drive the payment process. The bank has tied

up with Flipkart, Cleartrip, Goibibo and Expedia for SmartBuy.

o Also, customers would be able to make money transfers, pay utility bills and

recharge their mobile and DTH connections with just one click and a single PIN

entry.

o PayZapp does not require credit or debit card numbers and security codes to be

entered for every purchase. There is no pre-paid card restriction on daily or

monthly limits and no need to load money to pay, the bank said.

o PayZapp is part of the banks digital banking offering called GoDigital, which

centres around the theme of Bank aapki muthi mein.

o In 2014-15, 63 per cent of all transactions at HDFC Bank are conducted through

digital channels, it added.

Countrys second-largest private sector lender, HDFC Bank launched a 10-second

paperless instant loan plan for its existing customers.

o The entire process of availing the loan is completely paperless, and users can

simply log into their bank account via net-banking or mobile banking and avail of

this loan at a click, it added.

o The loan is completely hassle-free and transparent. Users will no longer have to

wait for disbursement of funds, particularly in medical or other types of

emergencies

o The 10-second loan is another offering under HDFC Banks digital banking

platform GoDigital. Under the platform, the bank had

launched PayZapp application to cater to e-commerce space.

Countrys largest lender State Bank of India said it has launched SBI eforex, an

Internet- based platform that enables customers to book their foreign exchange

transactions online.

o The customers will be able to obtain forex rates without having to visit the

branch, the bank said in a statement.

o This is SBIs second forex technology initiative, having launched SBI Fx Out,

which enables customers to send foreign currency remittances from any its

branches in India.

Private sector lender Axis Bank launched a new debit card, which can

be switched off for specified time periods, and has also put in fraud protection

and personal accidental cover along with the offering.

o The card named Secure+ can be switched off by using a mobile phone

application or Internet banking gateway or through the phone-banking

application.

o Besides, customers can also put limits on transactions.

o At Rs 300 per year, it will cost a customer twice as much as a regular debit card

offering to avail this card, said Jairam Sridharan, Axis Banks president and

head of retail lending and payments.

o The bank is giving a fraud protection service along with the card, wherein

disputed transactions of up to Rs 75,000 will be covered for customers.

o In case a customer has multiple cards of different lenders and loses his wallet, a

single call to the banks executive can help lock other banks cards as well.

o Apart from that, those choosing this card will also get an enhanced personal

accident insurance at Rs 5 lakh.

The Reserve Bank extended the deadline for exchanging pre-2005

currency notes of various denominations, including of Rs 500 and Rs 1,000, by six

months till December 31, 2015.

o The Reserve Bank of India has extended the date for the public to exchange

their pre-2005 banknotes till December 31, 2015. It had, in December 2014, set the

last date for public to exchange these notes as June 30, 2015.

o Soliciting cooperation from members of public in withdrawing these banknotes

from circulation, the Reserve Bank of India has urged them to deposit the old

design notes in their bank accounts or exchange them at a bank branch convenient

to them.

o The Reserve Bank has stated that the notes can be exchanged for their full value.

It has also clarified that all such notes continue to remain legal tender.

o Explaining the move, the Reserve Bank said that the banknotes in Mahatma

Gandhi series have now been in circulation for a decade. A majority of the old

banknotes have been withdrawn through bank branches. It has, therefore, decided

to withdraw the remaining old design notes from circulation. Not having currency

notes in multiple series in circulation at the same time is a standard international

practice, the Reserve Bank has pointed out.

o The Reserve Bank will continue to monitor and review the process so that the

public is not inconvenienced in any manner.

Easing norms for accessing foreign funds, RBI allowed banks to borrow from

international financial institutions for general banking business without its

permission.

o Such borrowings, RBI added, should be for the purpose of general banking

business and not for capital augmentation.

o In another circular, RBI allowed all non-deposit taking NBFCs to act as sub-

agents under Money Transfer Service Schemes (MTSS) without seeking prior

approval from it.

o Deposit accepting non-banking financial companies (NBFCs) are however,

not permitted to undertake such activity, RBI

United Bank of India has topped the list of public sector lenders with maximum

bad loans including restructured assets as a percentage of total advances.

o According to the data provided by the RBI to the Finance Ministry, United Bank of

Indias 21.5 per cent assets are either bad or have been restructured to save them

from turning non-performing assets (NPAs).

Showing anti-consumer bias in Indian banks approach on interest rates,

an IMF study shows they are faster in effecting lending rate hike, but rise in deposit

rates not so quick.

o In her research paper on Monetary Policy in India: Transmission to Bank

Interest Rates, IMF Economist Sonali Das has said there is fresh evidence

about significant, albeit slow, pass-through of policy rate changes to bank interest

rates in India.

o The problem has also been raised by various commentators in India, including RBI

Governor Raghuram Rajan, that banks tend to resist passing on the policy rate

cuts to consumers.

o The latest IMP paper said the extent of pass-through to the deposit rate is larger

than that to the lending rate, and the deposit rate adjusts more quickly to changes

in the policy rate.

o The study has studied the monetary policy transmission in India from end-March

2002 to end-October 2014.

JCB International, a Japanese cards issuer, has entered into a strategic

partnership with National Payments Corporation of India under which its

card-holders will be able to transact at all NPCI locations.

o At present, JCB cards are accepted in India through a tie-up with American

Express. Following the pact, the Japanese company will call off the tie-up with the

American issuer here.

o Under the tie-up, RuPay-JCB international debit cards will also be issued by

NPCI member-banks that would be globally accepted through the JCB network.

o NPCI currently has 10 lakh card merchants and 2 lakh ATMs across the country.

o The co-branded card will work as RuPay cards in the country and work as JCB

cards outside.

Reports

Fortune 500 Annual list

Walmart stayed at the top of the Fortune 500 annual list of the largest US

companies today, while Apple was the most profitable and Facebook the most

upward-bound.

This years Fortune 500 marks the 61st running of the list. In total, the Fortune

500 companies account for $12.5 trillion in revenues, $945 billion in profits, $17

trillion in market value and employ 26.8 million people worldwide.

Retail behemoth Wal-Mart Stores remained in the number one spot for the third

year in a row, based on company revenues last year of USD 485.6 billion.

The biggest jump was notched by Facebook, which climbed from 341 to 242. New

entrants included emerging tech heavyweights com, Netflix and Expedia.

Forbes magazines 2015 list of the worlds highest-paid Athletes

With earnings of $31 million, ace Indian cricketer Mahendra Singh Dhoni is

the only Indian to feature in Forbes magazines 2015 list of the worlds

highest-paid athletes.

Dhoni, who retired from Test cricket at the end of 2014, is ranked 23rd on the list,

one notch below his 2014 ranking. Dhonis total earnings stood at $31 million,

including amount from salary/winnings at $4 million and endorsements worth $27

million.

The list is topped by American boxer Floyd Mayweather with earnings of $300

million, more than double the previous high for an athlete.

This is the third time in four years that Mayweather has ranked as the worlds

highest-paid athlete.

The 100 highest-paid athletes made $3.2 billion in total over the last 12 months,

up 17 percent from the prior year.

Top 10 athletes:

1. Floyd Mayweather, US, Boxing $300 mn

2. Manny Pacquiao, Philippines, Boxing $160 mn

3. Cristiano Ronaldo, Portugal, Football $79.6 mn

4. Lionel Messi, Argentina, Football $73.8mn

5. Roger Federer, Switzerland, Tennis $67mn

6. LeBron James, US, Basketball $64.8 mn

7. Kevin Durant, US, Basketball $54.1 mn

8. Phil Mickelson, US, Golf $50.8 mn

9. Tiger Woods, US, Golf $50.6 mn

10. Kobe Bryant, US, Basketball $49.5 mn

Top 25 Self-Made Billionaires In the World

Bill Gates, the legendary founder of tech giant Microsoft, is the wealthiest of the

elite self-made billionaires club, with an estimated net worth of $85.7 billion,

according to a list released today by Wealth-X, a Singapore-based firm that

compiles research on the ultra wealthy.

Second to Gates is Warren Buffett, the guru-investor with a net worth just north

of $70 billion. And rounding out the top three positions is Amancio Ortega, the

Spanish founder of the fast-fashion dynasty Zara, who has a net worth of $65

billion.

American entrepreneurs like Gates dominate the Wealth-X list, claiming 14 of the

25 spots. The list features numerous notable American billionaires who are

responsible for building some of the most successful companies in the world

including Berkshire Hathaway, Oracle, and Google.

Top Ten in List:

Rank Name Nationality Estimated Net Worth*

1 William Gates III United States 85.7

2 Warren Buffett United States 70.1

3 Amancio Ortega Spain 65.0

4 Lawrence Ellison United States 51.5

5 Ingvar Kamprad Sweden 48.1

6 Jeffrey Bezos United States 39.8

7 Carlos Slim Mexico 35.4

8 Mark Zuckerberg United States 35.3

9 Wang Jianlin China 35.2

10 Michael Bloomberg United States 33.7

2015 Global Peace Index

The 2015 Global Peace Index shows that the world is becoming increasingly

divided with some countries enjoying unprecedented levels of peace and prosperity

while others spiral further into violence and conflict.

The Global Peace Index measures the state of peace in 162 countries according to

23 indicators that gauge the absence of violence or the fear of violence. It is produced

annually by the Institute for Economics and Peace.

This year the results show that globally, levels of peace remained stable over the last

year, however are still lower than in 2008.

The most peaceful countries are Iceland, Denmark and Austria. The countries

that made the biggest improvements in peace over the last year, generally benefited

from the ending of wars with neighbours and involvement in external conflict. The

biggest improvers were: Guinea-Bissau, Cote dIvoire, Egypt and Benin.

Syria remains the worlds least peaceful country, followed

by Iraq and Afghanistan. The country that suffered the most severe deterioration

in peace was Libya, which now ranks 149th of 162 countries.

The total economic impact of violence last year reached US$14.3 trillion, or

13.4% of global GDP. Thats equivalent to the combined economies of Canada,

France, Germany, Spain and the UK.

Since 2008, the total economic cost of violence has increased by almost US$2

trillion.

The Global Peace Index is a composite index comprised of 23 qualitative and

quantitative indicators that gauge the level of peace in 162 countries. These

indicators can be grouped into three broad themes: the level of safety and security in

a society, the number of international and domestic conflicts and the degree of

militarisation.

Ranking India among 20 most violent places in the world, a global study today said

the countrys economy took a hit of over Rs 1 lakh crore in containing and dealing

with cases of violence last year.

In the latest annual ranking of Global Peace Index, India has been ranked at 143rd

position out of 162 countries surveyed.

Within South Asia, Bhutan has been ranked as the most peaceful country, followed

by Nepal, Bangladesh and Sri Lanka. India is ranked fifth in the region better than

Pakistan at sixth and Afghanistan at seventh.

Globally, Pakistan is ranked 154th, while Afghanistan is at 161st position in this

years list.

As per the report, India suffers chronically from international tensions and

widespread internal conflict.

Highlights

Since last year, 81 countries have become more peaceful, while 78 have

deteriorated.

Many countries in Europe, the worlds most peaceful region, have reached

historically high levels of peace. 15 of the 20 most peaceful countries are in Europe.

Due to an increase in civil unrest and terrorist activity, the Middle East and North

Africa is now the worlds least peaceful region for the first time since the Index

began.

Globally the intensity of internal armed conflict has increased dramatically, with the

number of people killed in conflicts rising over 5 times from 49,000 in 2010 to

180,000 in 2014.

The economic impact of violence reached a total of US$14.3 trillion or 4% of global

GDP last year.

Worlds Biggest Employer Report

Two Indian organizations Army and Railways are among the worlds

biggest employers, together employing a whopping 2.7 million people, said a

report.

The organization is ranked at the eighth place in the list of worlds biggest

employers.

Immediately after Indian Railways in the 8th rank with 1.4 million staff is

the Indian Armed Forces with 1.3 million people.

According to a research published by the World Economic Forum, the US

department of defense is the worlds biggest employer which claims over 3.2

million employees on its roster.

Second is Peoples Liberation Army (the Chinese military) with 2.3 million, and

in third is the US supermarket giant Walmart with 2.1 million workers, the

report said.

McDonalds is the 4th biggest employer with 1.9 million employees, however, as the

majority of its restaurants are franchises, this figure falls to 4,20,000 when they are

excluded, the report said.

UKs National Health Service was ranked at the 5th place, with 1.7 million

employees, followed by state-run China National Petroleum Corporation with

1.6 million.

World Cellular Information Service (WCIS) Report

Sunil Mittal-led Bharti Airtel has become the worlds third largest mobile

operator with 303 million subscriber.

Bharti Airtel has become the worlds third largest mobile carrier by subscribers,

behind China Mobile and UKs Vodafone Group, latest data from research firm

Ovums World Cellular Information Service (WCIS) showed.

Bharti Airtel, with more than 303 million mobile subscribers across 20 countries

in South Asia and Africa, has moved up one position in the global

rankings, WCIS said. It now leads China Unicom and Mexican carrier

America Movil, which are at fourth and fifth spots, respectively.

Bibek Debroy Committee Report

The Bibek Debroy Committee, in its recent report, has said the Railways core

activity is to run trains and not to engage in activities like running hospitals, schools,

catering, real estate activities and maintaining the Railway Protection Force (RPF).

o Ministry of Railways have constituted a committee on 22.09.2014 with a tenure of

one year for Mobilization of resources for major Railway projects and

Re-structuring of Railways, Ministry & Railway Boardunder the

chairmanship of Dr. Bibek Debroy.

o The committee has said that RPF is meant for protecting railway properties,

passenger areas and passengers though it has limited police powers which are

mainly vested with the GRP for which Railway bears the half the cost.

o Law and order being essentially a state subject, the committee has recommended

two-fold action on the RPF front. It has suggested that first the state governments

should be persuaded to bear the entire cost of GRP.

o It has also recommended that General Managers and Divisional Railway Managers

should be given freedom to choose between private security agencies and RPF for

providing security on the trains.

o With regard to running schools, the committee suggests that educational needs of

the children of Railway employees could be met through susbisdising their

education in alternative schools, including Kendriya Vidyalayas and private

schools.

o On medical service undertaken by the Railway, the committee has recommended a

multi-pronged approach. It has said for functions such as periodic medical

examination, pre-employment examination, medical boards, safe water and food

supply at stations, the GMs and DRMs as also the employees could be given the

choice to opt for services either through Indian Railway Medical Service or

through private empanelled practitioners.

o Reacting to Debroy panels report, the National Federation of Indian

Railways has said it has totally failed in understanding the complexities of the

Indian Railways working system.

o The recommendation to separate production units, hospitals, medical services,

schools and RPF from the main activity of running trains is totally wrong as these

supporting activities strengthen the Indian Railway in providing services to the

customers, NFIR said in a statement.

Sports

Former greats Sachin Tendulkar, Sourav Ganguly and VVS Laxman were

inducted into the BCCIs newly-constituted cricket advisory committee to

guide the Board and the national team on various progressive steps needed for

future challenges.

o Spelling out their role in the committee, the BCCI said the three legends guidance

will be sought in preparing the national team for gruelling overseas assignments

besides strengthening the domestic structure.

Indias legendary batsman Sachin Tendulkar has been voted the Best Test

player of the 21st century in an online poll conducted by Cricket Australias

website.

o The former India skipper got the highest number of votes to emerge on top of the

list of the 100 best Test players since 2000, in a poll conducted by com.au.

o Sri Lankas Kumar Sangakkara received the second highest votes, followed

by Adam Gilchrist of Australia in the third position.

o The 42-year-old Tendulkar, who is the only batsman to have hit 100

international centuries, holds the record for highest run scorer in both Tests

and One-Day Internationals.

o The Poll result: 1. Sachin Tendulkar (Ind) 23 per cent, 2. Kumar Sangakkara (SL)

14 per cent, 3. Adam Gilchrist (Aus) 13 per cent, 4. Ricky Ponting (Aus) 11 per cent,

5. Jacques Kallis (SA) 11 per cent, 6. AB de Villiers (SA) 10 per cent, 7. Shane

Warne (Aus) 9 per cent, 8. Glenn McGrath (Aus) 5 per cent, 9. Muttiah

Muralitharan (SL) 3 per cent, 10. Dale Steyn (SA) 1 per cent.

Former India captain Rahul Dravid has agreed in principle to become the coach of

the India Under-19 and A teams, BCCI secretary Anurag Thakur confirmed

during a board advisory meeting.

o Dravid was even approached to join the cricket advisory committee with former

batsmen Sachin Tendulkar, Sourav Ganguly and VVS Laxman, but he declined the

offer as he was keener on a more hands-on role.

o Since 2014, Dravid has been serving as mentor of Rajasthan Royals in the IPL,

grooming several young players such as Sanju Samson, Karun Nair and Deepak

Hooda.

I-League Title-2015

Kolkata giants Mohun Bagan clinched their maiden I-League title and their first

domestic championship in 13 years after managing a 1-1 draw against defending

champions Bengaluru FC at Kanteerva Stadium here today.

It was the fourth national title for Bagan after having won the last in 2002 when the

tournament was named the National Football League.

French Open title-2015

Mens Single Title Winner

Stan Wawrinka has completed a magical fortnight of tennis with his finest

performance of all, stunning Novak Djokovic to win his first Roland-Garros

title.

Having beaten No.2-ranked Roger Federer in the quarter-

finals, Wawrinka played with power, aggression and consistency and used his

stellar one-handed backhand to devastating effect to record a 4-6, 6-4, 6-3, 6-4

victory over the world No.1 in the final.

Womens Single Title Winner

Serena Williams captured her third French Open title and an incredible 20th

major singles trophy in the process thanks to a 6-3, 6-7(2), 6-2 defeat of Lucie

Safarova in an absorbing two-hour final.

Stuttgart Open

Indo-Romanian pair of Rohan Bopanna and Florin Mergea clinched

the mens doubles title at the 574,965-euro Stuttgart Open on the grass courts

of Tennis Club Weissenhof.

The fourth seeds took just an hour and 12 minutes to beat Austrian-Brazilian third

seeds Alexander Peya and Bruno Soares 5-7, 6-2, 10-7 in the final.

This is the second title the two have won together, having won the clay

court Madrid Open last month. This is 35-year-old Bopannas fourth title of the

year, having won two hard court tournaments in Dubai and Sydney with Canadian

partner Daniel Nestor. This is also the Bengaluru-borns 14th career doubles title and

second on grass.

Gerry Weber Open title

Roger Federer showed he is ready for Wimbledon by defeating Italys Andreas

Seppi 7-6 (1), 6-4 to claim his record eighth Gerry Weber Open title.

The 17-time Grand Slam winner sealed his 15th title from 20 finals on grass and his

86th career title from 130 finals overall. Lleyton Hewitt is next on grass with eight

titles.

The GERRY WEBER OPEN is one of seven grass-court events on the calendar,

and has been re-categorised as an ATP World Tour 500

tournament from 2015 as part of the extended grass-court swing.

The GERRY WEBER OPEN has crowned five German winners since the inaugural

event in 1993: Michael Stich (1994), Nicolas Kiefer (1999), David Prinosil (2000),

Tommy Haas (2009 & 2012) and Philipp Kohlschreiber (2011). Roger Federer won

his eighth title in 2015.

Canada Open Womens Doubles Title

Indian shuttlers Jwala Gutta and Ashwini Ponnappa won the Canada Open

womens doubles title after upstaging the top-seeded Dutch pair of Eefje

Muskens and Selena Piek in the summit clash here.

The third-seeded Indian pair triumphed 21-19, 21-16 in the contest which lasted 35

minutes.

This was Jwala and Ashwinis first title since their reunion after the 2012 London

Olympics.

Awards

Norwegian prize for freedom of expression

Former security contractor Edward Snowden won a Norwegian

prize for freedom of expression and received yet another invitation to leave his

exile and receive the award in person.

The Norwegian Academy of Literature and Freedom of Expressionsaid the

31-year old fugitive had won the Bjornson Prize named after a Norwegian

Nobel literature laureate for his work protecting privacy and for shining a

critical light on US surveillance of its citizens and others.

Snowden, a former analyst at the US National Security Agency, has lived in

exile inRussiasince 2013 after revealing mass spying programmes by the United

States and its allies.

The academy requested assurances from the Norwegian governmentthat

Snowden would not be extradited to the US if he travelled to Norway to receive

the 100,000 kroner ($12,700, 11,500 euros) prize money in person on September

5.

Space Pioneer award-2015

The countrys low-cost Mars mission which is in rendezvous with the red Planet

for an extended period has been presented with the Space Pioneer award for the

year 2015 by the US National Space Society.

Space Pioneer award for the year 2015 was presented to Indian Space Research

Organisation (ISRO) in the Science and Engineering category during the 34th

Annual International Space Development Conference held at Toronto in

Canada, city-headquartered ISRO said on its website.

It said the National Space Society (NSS) of USA presented the award in

recognition of ISROs efforts in accomplishing Mars Mission in its very first

attempt.

Scripting space history, India on September 24, 2014 successfully placed its low-

cost Mars spacecraft in orbit around the red planet in its very first attempt,

breaking into an elite club of three US, Russia and Europe who have

successfully undertaken missions to Mars or its orbit.

The Space Pioneer Award consists of a silvery pewter Moon globe cast by the Baker

Art Foundry in Placerville, California, from a sculpture originally created by Don

Davis, the well-known space and astronomical artist, ISRO said.

Fukuoka Prize

Historian-author Ramachandra Guha has been selected for Japans

prestigious Fukuoka Prize in the Academic category.

His fellow awardees are Thant Myint-U, a highly regarded historian

from Myanmar who is working towards preserving cultural heritage, and Minh

Hanh, a VietnameseThe well-known author and columnist, who is currently

completely immersed in his three-part biography of Gandhi.

The Fukuoka Prize has been awarded to Guha for presenting thorough

explanations of the complex history of India.

Some of his early writings, such are This Fissured Land: An Ecological History

of India (1992), Savaging the Civilized: Verrier Elwin, his Tribals and

India (1999), and Environmentalism: A global history (2000).

His books vividly illustrate the actual state of the Indian democratic system,

shedding light on our current multi-dimensional and chaotic world, says the

citation.

Fukuoka Prize honours those who have made outstanding contributions to

academia, arts and culture across Asia.

Previous winners of Fukuoka Awards include Mohammad Yunus, Romila

Thapar, Ashis Nandy and Mo Yan.

Colombias Highest Civilian Award

Spiritual leader Sri Sri Ravi Shankar has been conferred with Colombias

highest civilian award for his contribution to peace issues around the world,

particularly in the Latin American country.

Fabio Raul Amin Saleme, President of the House of Representatives, Congress of

Colombia presented Orden de la Democracia Simon Bolivar award to Sri

while highlighting his achievements in peace matters through his foundation, The

Art of Living.

The award is in recognition of his peace work around the world, with special

reference to his work in Colombia through his foundation.