3rd February 2015 - Important Current Affairs updates

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International Affairs

• The UK is now set to become the first country to introduce laws to allow the creation of babies from three people.
• In an historic move, MPs have voted in favour of the creation of babies with DNA from two women and one man.
• In a free vote in the Commons, 382 MPs were in favour and 128 against the technique that stops genetic diseases being passed from mother to child.
• During the debate, ministers said the technique was "light at the end of a dark tunnel" for families.

National Affairs

• Madhya Pradesh awarded the 10th national award for excellent work in Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA).
• The award was presented to Madhya Pradesh Panchayats and Rural Development Minister Gopal Bhargava by the Union Rural Development Minister Virendra Singh at the MGNREGA summit held in New Delhi.
• Punjab will issue Aadhaar-linked e-ration cards to ensure that only genuine beneficiaries get subsidised foodgrain.
• Punjab is the first state in the country to have initiated the e-ration cards.
• Punjab's Food and Civil Supplies Minister : Adesh Partap Singh Kairon
• IRCTC has announced the new system and a new option to Book IRCTC Train Tickets through Cash on Delivery (COD) and launched a new website called http://www.bookmytrain.com. 
• With the help of this new website, the booking system is more faster and efficient and even on low 2g networks customers can book the tickets very easily and fastly through its beta version.
• This COD scheme has been launched on pilot basis and the service will be available in more than 200 cities initially. Customers can book a ticket 5 days prior to commencement of journey.
• Rs 40 will be charged for the delivery of each Sleeper Class ticket, Rs 60 will be charged for an AC class ticket

Deaths

• Noted sculptor Mrinalini Mukherjee (65) passed away in New Delhi.
• She was the first Indian artist whose work was displayed at the Sydney Biennale in 1986.
• She was best known for her sculptures using knotted hemp fibre and cast bronzes.

Business & Economy

• In an attempt to provide more liquidity to the banking system, the Reserve Bank of India (RBI) today reduced the Statutory Liquidity Ratio (SLR) by 50 basis points from 22 per cent to 21.5 per cent with effect from 7th February 2015. Check current RBI Rates from here.
• This move is likely to pump in around Rs. 45,000 crore to the system, which is likely to prod banks to cut their lending rates.
• Highlights of RBI's Sixth Bi-monthly Monetary Policy statement:
• Short-term lending rate unchanged at 7.75 per cent.
• Cash Reserve Ratio unchanged at 4 per cent.
• Statutory Liquidity Ratio cut to 21.5 per cent, effective February 7, to unlock banking funds.
  
• Current Account Deficit at 1.3 per cent of GDP for 2014-15.
• Inflation target at 6 per cent by January 2016.
• GDP growth estimates under old base for current fiscal at 5.5 per cent; 6.5 per cent for 2015-16.
• Banks asked to lend to productive sector to spur investment, growth
• Limit of foreign exchange remittance doubled to USD 2,50,000 per person annually
• 72 application for Small Finance Banks, 41 for Payments Banks received
• Export credit refinance to be replaced with provision of system level liquidity, effective February 7
• Foreign portfolio investors allowed to re-invest in G-Secs after their investment limits are utilised
• Bi-monthly policy statement for 2015-16 on 7th April 2015.
• China has surpassed the United States as the top destination for foreign direct investment (FDI), a position held by the US for 11 year.
• The United Nations Conference on Trade and Development (UNCTAD) recently published a report showing China had attracted USD 127.6 billion in foreign investment in 2014 compared to USD 86 billion invested by foreign businesses in the US.

New Appointments

• Dr.Nandita Chatterjee took over as the new Secretary in the Ministry of Housing & Urban Poverty Alleviation (HUPA). 
• Her last assignment was as Member-Secretary, National Commission for Women.

Sports

• 35th National Games
• Olympian Vijayakumar strikes gold in the 25 metre pistol event
• Jasvir Kaur breaks National record in 63 kg women category in Weightlifting.

Read more Daily Current Affairs updates from here

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