25th July 2015 - Important Current Affairs updates

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National Affairs

• Prime Minister Narendra Modi inaugurates NDA government's 'Deen Dayal Upadhyay Gramjyoti Yojana (DDUGJY)' in Patna.
• The DDUGJY is one of the flagship programmes of the Ministry of Power .
• The main aim of this scheme is to provide uninterrupted power to rural house hold across the nation by 2022.
• The estimated cost of the scheme for above two components is Rs.43,033 crore which includes the requirement of budgetary support of Rs.33,453 crore from Government of India over the entire implementation period.
• Note : The earlier scheme for rural electrification viz. Rajiv Gandhi Grameen Vidyutikaran Yojana (RGGVY) has been subsumed in the new scheme as its rural electrification component.
• The major components of the scheme are feeder separation; strengthening of sub-transmission and distribution network; metering at all levels (input points, feeders and distribution transformers); micro grid and off grid distribution network and rural electrification- already sanctioned projects under RGGVY to be completed.
• Benefits of DDUGJY Scheme :

• All villages and households shall be electrified.
• Increase in agriculture yield.
• Business of small and household enterprises shall grow resulting into new avenues for employment.
• Improvement in health, education, banking (ATM) services
• Improvement in accessibility to radio, telephone, television, internet and mobile etc.
• Betterment in social security due to availability of electricity.
• Accessibility of electri city to schools, panchayats, hospitals and police stations etc.
• Rural areas shall get increased opportunities for comprehensive development.
• The high-level Shah Committee on Applicability of Minimum Alternate Tax (MAT) on foreign investors today submitted it's 66 page report to Finance Minister Arun Jaitley.
• The government has said that it will soon take a decision on the report.
• Note : The government had in May appointed Justice A P Shah Committee to examine the matter relating to levy of MAT on FIIs prior to April 2015. 
• The committee looked into all related legal provisions, judicial, quasi-judicial pronouncements and other relevant aspects. 
• Prime Minister Narendra Modi indicates over 50 thousand crore rupees package for Bihar.
• PM inaugurated 87th foundation day celebrations of the Indian Council for Agricultural Research (ICAR) in Patna toda.
• Modi also inaugurated two trains and commissioned a 38km-long new line in poll-bound Bihar. 
• Those trains are,
• Rajgir-Biharsharif-Daniawan-Fatuha passenger train 
• Patna-Mumbai AC Suvidha Express 
• Altogether 66 people have died and 318 others have been affected by Japanese Encephalitis this year in Assam with the disease assuming alarming trend during recent months in the state.

Awards & Honors

• Andhra Bank has received Award of excellence for securing first place in recognition of the exceptional contribution to Rural Self Employment Training Institute ( RSETI) movement in the country for the year 2013-14.
• Allahabad Bank has been conferred the second prize.
• These prizes was conferred based on the public sector lender’s performance in the financial year 2013-14.

MOUs

• Multi Commodity Exchange of India Limited (MCX) has signed a memorandum of understanding with the US-based CME group, which runs the world’s largest chain of exchanges in derivatives products, for a study on setting up operations in the International Finance Service Centre at the Gujarat International finance Tec-city (GIFT) near Ahmedabad.

Science & Technology

• Mosquirix, the world's first malaria vaccine today cleared one of the final hurdles as it received a positive scientific opinion from European regulators and now awaits approval from the WHO before it could be administered within the next few years across Africa.
• The vaccine will be examined by the WHO which will give its recommendation in November this year, and if approved, could be administered to children across Africa within the next few years. 

Business & Economy

• World Trade Organization (WTO) members finalized a deal to cut tariffs on $1 trillion worth of information technology products in a boost for producers of goods ranging from video games to medical equipment.
• The agreement to update the WTO’s 18-year-old Information Technology Agreement (ITA) adds more than 200 products to the list of goods covered by zero-tariff and duty-free trade.
• New York-based news and blogging portal Mashable, which announced its entry into India in February this year, will officially launch in the country by August. 
• The portal joined hands with Zee Entertainment Enterprises Limited (ZEEL) promoted India.com and it is through this tie up that the Indian version of Mashable will be launched. 
• Insurance Regulatory and Development Authority of India (IRDAI) has constituted three committees for review of regulations in life insurance, general insurance and reinsurance including registration of foreign offices of reinsurers. 
• The Life insurance committee will look into regulations in areas like assets, liabilities and solvency margin and appointed actuary. 
• The General insurance committee will look at regulations in areas including claim reserving, reinsurance and appointed actuary. 
• The Reinsurance committee will look into issues relating to registration of branches of foreign reinsurers among others.

Sports

• Olympic champion and world record holder Usain Bolt clocks 9.87 seconds to win 100 meter race at London Diamond League meet.
• Former India capped cricketer Sreesanth and all the other 36 accused persons in the IPL-6 spot fixing case were discharged by a Delhi court.
• Other two prominent IPL players - Ajit Chandila and Ankeet Chavan- who were on bail were also discharged in the case.
• High Performance Director Roelant Oltmans was appointed coach of the Indian ‪Hockey‬ Team.
• He replaces Paul van Ass, who was unceremoniously sacked after a bitter spat with Hockey India President Narinder Batra.

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