July 12, 2015

12th July 2015 - Important Current Affairs updates

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International Affairs

On the last leg of his visit to five Central Asian countries and Russia, Prime Minister of India Narendra Modi reaches Tajikistan.

He was received by Tajikistan Prime Minister Qohir Rasulzoda and Foreign Minister Sirojiddin Aslov at Dushanbe International Airport.

Tunisia's status as a "non-NATO ally" of the United States has been approved today.

This move will pave the way for enhanced military cooperation between the countries.
Note : Tunisia is the 16th country to become a Major Non-NATO Ally of the United States.

MOUs

India and Kyrgyzstan today signed agreements in Four Key areas, including defence cooperation and cultural preservation.

The agreements signed are
Agreement on Defence Cooperation : To deepen cooperation between India and Kyrgyzstan in matters relating to defence security, military education and training, conduct of joint military exercises , experience exchange, information exchange, exchange of military instructors and observers etc
Memorandum of mutual understanding and corporation in the field of elections :To deepen cooperation in matters relating to legislation on elections and referendums , modern systems and technologies, rights of elections process and stakeholders as well as other issues of election administration. Signing of this MoU would build technical assistance and capacity support for the election commission in electoral management and administration leading to a further strengthening of bilateral ties between India and Kyrgyzstan
MoU between Ministry of Economy of Kyrgyzstan and Bureau of Indian Standards (BIS) on cooperation in the sphere of standards
Agreement on cooperation in culture: To deepen cultural cooperation between India and Kyrgyzstan in areas such as preservation of cultural heritage, organisation of folk arts, theatre, youth festivals and cooperation in of publishing and translation of literature, sports and physical culture, exchange of archival materials, history, geography etc.

Business & Economy

NABARD : National Bank for Agriculture and Rural Development
NABARD is an apex development bank in India having headquarters based in Mumbai.
It was established on 12 July 1982.
NABARD Chairman : Dr. Harsh Kumar Bhanwal

NABARD has announced that it is going to give Rs 30,000 crore rupees as credit to farmers for irrigation over the next 3 years.

This funding will be in addition to the government’s recent announcement of providing Rs 50,000 crore of loans to farmers over the next 5 years under the Pradhan Mantri Krishi Sinchai Yojana.

Government is working on a new agriculture insurance scheme that will cover all the inputs put by a farmer into his farm as also the loans taken by him, Finance Minister Arun Jaitley has announced today.

Note : The present crop insurance schemes cover only the loans which a farmer has taken from banks.

The Finance Ministry has imposed definitive anti-dumping duty on Phenol imports from South Africa.

Based on the recommendations of the Designated Authority in the Commerce Ministry in its Sunset review investigations, the revenue department has imposed this anti-dumping duty of $ 342.76 per tonne on all phenol imports from South Africa.
This anti-dumping duty will be valid for a period of five years.
Note : Phenol is a basic organic chemical used in plywoods, laminates, particle boards, pharmaceuticals and phenyl formaldehyde resins.

Sports

Sania Mirza creates history by winning Wimbledon women's doubles title with Martina Hingis.

Novak Djokovic won the Wimbledon Men's singles title by beating Roger Federer.
India beat Zimbabwe by 62 runs in 2nd ODI.

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