Current Affairs 31st July 2015

  • RBI will be issuing 10 rupees coins to commemorate - International Day of Yoga
It was decided by Reserve Bank of India to put into circulation 10 rupees coins to commemorate the International Day of Yoga. On this coin at the reverse side logo of International Day of Yoga with inscription "सामंजस्य एवं शान्ति के लिए योग" or "YOGA FOR HARMONY AND PEACE" will be there with 21st June written below logo as 21st June is observed as International Day of Yoga.

  • Name of the latest operating system launched by Microsoft - Windows 10
Image result for Name of the latest operating system launched by Microsoft - Windows 10 A new version of Windows named Windows 10 was rolled out by microsoft in 190 countries. There will also be a free trail of 90 days for this new OS.
Do You Know :
If you have a origional windows 7 or 8.1 in your laptop or PC then you can upgrade free to this new version till one year.

  • World Day Against Trafficking in Persons observed on - 30th July 2015
Image result for World Day Against Trafficking in Persons observed on - 30th July 2015World Day Against Trafficking in Persons was observed across the globe. Global campaign #IGiveHope was launched by UNODC to raise awareness around the plight of survivors of trafficking in persons. This day was adopted by UN General Assembly (UNGA) in 2013 to appraise the Global Plan of Action to Combat Trafficking in Persons which was adopted in 2010. 
Do You Know : 
Full Form of UNODC is : United Nations Office on Drugs and Crime.

  • Winter Olympics and Paralympics 2022 held - Beijing
Image result for Winter Olympics and Paralympics 2022 held - Beijing It was announced that Beijing will host the 2022 Winter Olympics and Paralympics. Beijing which is capital of China was chosen at 128th IOC session in Kuala Lumpur, Malaysia.
Important to mention here that Beijing became first city to host both the Summer Olympics and Winter Olympics as It has already hosted Summer Olympics in 2008.
In 2018 Winter Olympics will be held in Pyeongchang, South Korea and in 2014 it was held in Sochi, Russia.
Do You Know : 
Who is President of International Olympic Committee - Thomas Bach

Current Affairs 30th July 2015

  • Charge as new MAIT President has been taken by- Debjani Ghosh
 the charge as new president of MAIT (the Manufacturers’ Association for Information Technology), the apex body of India’s Information technology hardware industry is taken by Debjani Ghosh.
Image result for Charge as new MAIT President has been taken by- Debjani GhoshSince the establishment of MAIT 32 years ago, Debjani is the first female President of MAIT. She will replace Amar Babu, chairman of Lenovo India and the chief operation officer at Lenovo for Asia Pacific. On the other hand she is vice-president of sales and marketing group and managing director of Intel Corporation, South Asia.
In 2013, Fortune India, she was among the 25 Most Powerful Women. She is also the chairperson of the IT Committee at the Federation of Indian Chambers of Commerce and Industry (FICCI).
Do You Know :

MAIT is the top most IT hardware body in India etablished in 1982 and is associated with development of IT hardware sector, training and research and Hardware design. It is committed to develop ambitiousness in Indian IT industries to stand in global market. It encourages and enhances the practice and the role of IT for economic growth of the country.

  • Rafael Advanced Defense Systems has partnered with Kalyani Group to - make Spike Missile
India’s Kalyani Group and Israel’s Rafael have partnered to produce Spike Anti-Tank Guided Missiles (ATGM) in India.
Both the organization have formed a manufacturing Joint Venture (JV) in this consideration and it is also expected to strengthen the strategic cooperation beween both the nations.
51% ownership stake in the venture will be held by the Kalyani Group as per the Foreign Direct Investment (FDI) guidelines.
Defence Acquisition Council (DAC) in October 2014 cleared the FDI proposal in this concern under the chairmanship of Arun Jaitley, Defence Minister. The deal includes order of 300 plus launchers and 8,000 Spike ATGM missiles with a total worth of 3,200 crore rupees.
Do You Know :
Spike Anti-Tank Guided Missiles (ATGM): It is a 3rd generation, fire-and-forget, man-portable, anti-tank missile designed and developed by Rafael Advanced Defense Systems.
In case of emergency, India will require 40,000 missiles to equip the Indian Army’s 382 infantry battalions and 44 mechanised regiments.

  • Vasundhara Komkali passed away, she was a noted - Vocalist

Image result for Vasundhara Komkali passed away, she was a noted - Vocalist
On 29th July 2015, Eminent musician Vasundhara Komkali passed away at the age of 85.
About Vasundhara Komkali
  • She is considered as one of the prominent Indian classical vocalists.
  • Pt. Kumar Gandharva (her husband) and Dr. BR Deodhar trained her in Indian classical music.

  •                      RBI's Role Needs To Change
Draft Indian Financial Code prises open the black box of monetary policy making
imggalleryFinancial sector regulation in India has developed in an ad hoc manner in response to evolving requirements.Consequently , it suffers from substantial prudential weaknesses and regulatory arbitrage that makes for heightened risks for both investors and financial consumers. By putting together a modern law for governing the complex financial sector, the draft Indian Financial Code (IFC) represents a quantum jump forward.When enacted, IFC will replace 19 extant laws, some of which, like the RBI Act and Insurance Act, date back to 1934 and 1938 respectively . IFC should therefore be made effective sooner rather than later. It should certainly not be allowed to flounder on the specious grounds of its impact on RBI autonomy .
It is, therefore, indeed a pity that public discussion on IFC has focussed entirely on the relationship between government and RBI. Even more mischievous is the attempt by some influential western newspapers like the Financial Times of London, to portray IFC as the Modi government's attempt to curb the powers of the incumbent RBI Governor.

IFC does well to clearly segregate the roles of RBI and the Financial Sector Authority , with the former being responsible for the conduct of monetary policy and banking sector regulation. Moreover, the establishment of an independent Public Debt Management Agency will help both in improving public debt management and better fixing RBI's accountability for its principal tasks of maintaining price stability and prudentially managing the banking sector.

The Governor would be expected to use the considerable analytical resources at his disposal and powers of suasion to convince MPC of RBI's point of view. The Governor does not need to have a veto which some have argued for.Giving a veto to the Governor over the majority view is both disrespectful to members of MPC and also assumes supra-natural powers for the Governor.
IFC (Section 267) requires that in case the inflation target is not met, RBI would submit a report to the Centre giving reasons for the failure, remedial measures to be taken and the timeline for achieving the target. No further action is envisaged.
Would it not be more effective if a failure to meet the target triggers some punitive action like resignation of the entire MPC? This could prevent the usual spectacle of `passing the blame' and instead encourage constructive cooperation between RBI and government.
In a liberal democracy like ours, all key policy decisions should ideally be subject at least to parliamentary scrutiny if not its approval. Despite the Indian elite's disdain of the political class, elected MPs do represent our peoples' aspirations and concerns.
Therefore, the government should place its `inflation target agreement' with RBI in Parliament and invite debate on it. Moreover, like in most advanced economies, the RBI Governor accompanied by MPC should be required to periodically depose before the Parliamentary Standing Committee on Finance.
It is time that those who are answerable to the people also get a chance to question the policy makers. A positive externality will be to raise financial awareness among politicians.
The writer is Senior Fellow at the Centre for Policy Research and Founder Director Pahle India Foundation

  • New coach of Indian Men's national hockey team - Roelant Oltmans
Image result for New coach of Indian Men's national hockey team - Roelant OltmansRoelant Oltmans was appointed as new coach of Men national hockey team. This appointment was made by Hockey India. Roelant Oltmans belongs to Netherlands.
He will be replacing Paul van Ass who was recently sacked by Hockey India.

  • Name of three countries/territories for which e-Tourist Visa scheme was extended - China, Hong Kong and Macau
Indian Union Government extended its e-Tourist Visa scheme to China, Hong Kong and Macau. This decision will take effect from 30th July 2015.
Image result for Name of three countries/territories for which e-Tourist Visa scheme was extended - China, Hong Kong and MacauAfter this inclusion total number of countries/territories covered under the e-Tourist Visa became 77.
  • Do You Know :
  • e-Tourist Visa was launched on 27th November 2015 with an aim to give boost to tourism. 

  • As per UN World Population Prospects report, India will be most populous nation by - 2022

United Nations released a report named World Population Prospects: The 2015 Revision. As per this report India will replace China as most populous nation in the world by 2022. It is important to mention that in 2013 it was expected that India will surpass china by 2028 in terms of population.
India population is forecasted to grow to 1.5 billion in 2030 and 1.7 billion in 2015.