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May 25, 2015

25th May 2015 - Important Current Affairs updates

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International Affairs
  • Switzerland has published the names of foreigners wanted for tax frauds after requests from Russia, France, Germany, India and other countries. 
    • This will mark the end of the Swiss bank privacy tradition, dating back to the 1930s.
    • This move comes after the government of Switzerland received formal requests from several foreign tax authorities.
    • Note : Names of two Indians have been made public so far.

National Affairs
  • The Delhi High Court holds that city government's Anti Corruption Branch (ACB) has "jurisdiction to investigate and prosecute" Delhi Police officials.
    • The court also dismissed the bail plea of a head constable arrested on corruption charges by it.
  • Tamil Nadu CM Jayalalithaa announces development and welfare measures worth over 1800 crore rupees, including for improving roads and drinking water facilities and extending assistance to needy families headed by women.
    • She approved five major schemes such as opening more 'AMMA' canteens that provide subsidised food, housing for poor and setting up Reverse Osmosis plants for drinking water.
  • In the backdrop of Maharashtra and Uttar Pradesh governments hinting a ban on Maggi noodles manufactured by Nestle, the Karnataka government too is planning to go for laboratory tests on the food product.
  • India's only dedicated TV Channel for Farmers DDKisan to be launched tomorrow.
    • The 24-hour channel will air information on farmer-related issues.
People in News
  • Former Israeli PM Ehud Olmert sentenced to 8 months in prison for unlawfully accepting money from a U.S. supporter.
    • Olmert served as prime minister of Israel from 2006 to 2009.
New Appointments
  • Consumer appliances maker Whirlpool today announced that it has appointed Sunil D'Souza Managing Director of its India operations.

Business & Economy
  • The government has cleared 21 foreign direct investment (FDI) deals worth Rs 280.70 crore.
    • The Foreign Investment Promotion Board (FIPB) has, however, deferred 12 proposals including that of Kotak Bank, Mumbai for increasing the aggregate foreign investment limit in the bank to 55 per cent.
  • Finance Minister Arun Jaitley today hinted at coming out with more steps on squeezing black money but assured honest taxpayers that they need not fear the new law to unearth unaccounted wealth stashed abroad.
  • Around 10 lakh employees of 43 banks, including public sector banks, will get a 15 per cent hike in salaries, with the Indian Banks Association today signing a wage agreement with employee unions and officers’ associations.
    • The revision, applicable with retrospectively with effect from November 1, 2012, will benefit employees and officers in 43 banks including public sector banks, old private sector banks and a few foreign banks.
    • The 15 per cent hike would come come at a cost of Rs. 4,725 crore.
  • India's largest private lender ICICI Bank has launched a service where customers can make transactions using just their voice, without using other means of authentication like a password.
    • The voice recognition service authenticates customers based on their speech patterns and allows them to execute banking transactions through the bank's call centre.
    • Over 33 million savings bank and credit card customers will be able to use the service.
  • China, the world's biggest gold producer, has set up a gold sector fund involving countries along the ancient Silk Road which is expected to raise $16.1 billion.
    • The fund, led by Shanghai Gold Exchange (SGE), is expected to raise an estimated 100 billion yuan ($16.1 billion) in three phases. 
    • This is said to be the "largest fund" set up by China.
    • Note : China is the world's largest gold producer, and also a major importer and consumer of gold.
Awards & Honors
  • The 68th Cannes Film Festival concluded in France.
  • The CBSE has declared the results of class 12th examination today's after noon.
    • The results were uploaded on websites, and
    • The Board in a statement said that students can also get their results through an Interactive Voice Response System by dialing phone numbers 24300699 in Delhi and 011-24300699 from other parts of the country.
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