Daily Current Affairs – 26 July 2015
- Today observed as Kargil Vijay Diwas in India, named after the success of Operation Vijay. On this day, 26 July 1999, India successfully took command of the high outposts which had been lost to Pakistani intruders. The Kargil war was fought for more than 60 days, ended on 26 July and resulted in the loss of life on both sides, India and Pakistan. Pakistan retreated after international diplomatic pressure. This day is celebrated in the Kargil – Dras sector and the national capital New Delhi, where the Prime Minister of India, pays homage to the soldiers at Amar Jawan Jyoti at India Gate every year. Functions are also organized all over the country to commemorate the contribution of the Armed forces. PM Modi pays homage to martyrs of Kargil in his ‘Mann ki Baat’.
- Prime Minister Narendra Modi requested to all citizens for the suggestion on speech on Independence Day. People can share their post on https://mygov.in/group-issue/share-your-ideas-pms-speech-independence-day/ .
- Government has ordered blocking of at least 40 webpages with inflammatory content relating to a minority community, including posts on social media and popular video-sharing platforms. Govt has issued order under Information Technology (Procedure and Safeguards for Blocking Access of Information by Public) Rules 2009 to block some…videos that could incite minority community, online videos, dated June 29, was issued to all internet service providers, who have now blocked most of such posts. However, a few of them are still accessible and the internet service providers claim these cannot be blocked totally as they have been posted through a ‘secure internet protocol’.
- Prime Minister Narendra Modi announced over 50 thousand crore rupees package and inaugurated two trains (Rajgir-Biharsharif-Daniawan-Fatuha passenger train and Patna-Mumbai AC Suvidha Express) and also commissioned a 38km-long new line in poll-bound for Bihar on 87th foundation day celebrations of the Indian Council for Agricultural Research (ICAR) in Patna on 25th July 2015.
- Gandhian activist Anna Hazare joined former defence personnel protesting against the Centre for non-implementation of One Rank One Pension scheme (OROP) at the Jantar Mantar today. He will do rallies in Ludhiana on August 2, in Rohtak on August 9 and in Maharashtra on August 23 to create awareness about OROP. Hazare has already announced launching an indefinite fast on October 2 in Delhi over the Land Bill and to press for OROP. In the letter to Modi, Hazare had said, “We have to take care of our soldiers and farmers. Making hollow announcements for their welfare and actually implementing them are different things. In a democracy, the government should listen to woes of the people and redress them”.
- Andhra Bank has received First prize for award of excellence in recognition of the exceptional contribution to Rural Self Employment Training Institute (RSETI) movement in the country for the year 2013-14 whereas Allahabad Bank is at the second prize.
- A joint report by New World Wealth and LIO Global said India has seen the second-biggest outflow of high net worth individuals in last 14 years, with as many as 61,000 millionaires shifting base to abroad due to reasons like tax, security and child education. Some 61,000 uber-rich Indians have changed domicile between 2000 to 2014 — second only to China which saw an outflow of 91,000 ultra-rich persons in the same period whereas also said the change in domicile, along with a rise in second citizenship applications, has increased dramatically since the turn of the century. ndian HNWIs tend to move to the UAE, the UK, the US and Australia,” the report said, adding that Chinese HNWIs mainly moved to the US, Hong Kong, Singapore and the UK. Overall, the UK has seen the biggest inflow of HNWIs from abroad and the figure stood at 1.25 lakh over the past 14 years.
- MCX – Multi Commodity Exchange of India Limited has signed a MoU 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 Ahmadabad. Chicago Mercantile Exchange(CME) the world’s largest US futures exchange company and MCX will initially conduct a joint viability study of setting up operations in an International Finance Service Center (IFSC) in India. India’s big exchange platforms like National stock Exchange (NS), Bombay stock Exchange (BSE) and commodity exchange NCDEX had already announced it plans for operations in GIFT, the first IFSC in India and now MCX has also joined them. MCX expects that this partnership will fetch the marketplace with best practices and much diversified product slate to the stakeholders of Indian commodities markets.
- Entertainment Network India (ENIL) or Times Group has got the approval from Information and Broadcasting (I&B) Ministry to acquire four FM radio station as Oye radio stations in Jodhpur, Amritsar, Shimla and Patiala. Earlier this similar deal was rejected by I&B ministry on ground that it violates FM radio guidelines and thus the said deal was held after fulfillment of conditions specified by the Ministry.
- IRDA – Insurance Regulatory and Development Authority of India has constituted three committees Life insurance committee, General insurance committee and Reinsurance committee for review of regulations in life insurance, general insurance and reinsurance including registration of foreign offices of reinsurers. They will look into regulations in areas like assets, liabilities, solvency margin, claim reserving, reinsurance and registration of branches of foreign reinsurers among others. Ever since the Insurance Act has been approved there was a need to review and revise existing regulations in insurance sector, these committees are the formed to fulfill the same motive. These committees mandatorily have to submit report within one month to the Member Actuary of IRDAI.
- M Damodaran, former chairman of SEBI launched a trust that aims to address challenges faced by non-executive especially independent directors on companies’ board directors to promote discussions among non-executive directors and to give viable solution to the concerns faced by them. The main issues faced by them are; Lack of role clarity, absence of domain knowledge and increasing liabilities under the new companies Act.
- KFC and the Indian Railway Catering and Tourism Corporation (IRCTC) signed a agreement to launch a delivery system for commuters on trains. Under e-catering service initiatives commuters now can place order for KFC meal while booking tickets through IRTC website and provide meal to the limited trains which do not have pantry cars. This service is presently available only on 12 trains passing through New Delhi railway station and will later expand to Hyderabad, Vishakhapatnam and Bengaluru stations.
- Mashable, a New York-based news and blogging portal has joined hands with India.com, a Zee Entertainment Enterprises Limited (ZEEL) sponsored website for the launching of its Indian version in India. It will provide editorial and advertising support to Mashable so that it will generate content for the Indian market and helped by india.com, through its experts and its market reach to penetrate in Indian market. Mashable has to steer with top blog portals like Huffington Post and Business Insider that has already entered in India’s blogging space. These websites were brought in India by Times Internet a digital platform of Bennett Coleman & Company (BCCL).
- Central Reserve Police Force, the country’s largest paramilitary force, has prohibited routine purchase of liquor for its jawans and officers after it found consumption of hard drinks was having an “adverse” effect on the health of the troops. The 3 lakh-strong forces has now centralized the process of procurement of these spirits like Whisky, Rum, Gin and Vodka, taking the decision away from the field formations to the force headquarters in the national capital.
- Usain Bolt formed world record clocks 9.87 seconds to win 100 meter race at London Diamond League.
- China launched two new 18th and 19th navigational satellites into space as part of its domestic navigation system BeiDou as Compass for navigation, messaging, transportation and weather forecasting sectors. It also helps for military applications. Expedition-1, or Yuanzheng-1, is an independent aircraft installed on the carrier rocket with the ability of sending one or more spacecraft into different orbits in space. Through this China has total constellation of 35 satellites been successfully launched from the Xichang Satellite Launch Center in southwestern Sichuan province. It is is 2nd generation of the Chinese navigational system seen as rival to the US’s Global Positioning System (GPS). The system has been gradually put into use in extended sectors including transportation, weather forecasting, marine fishing industry, forestry and telecommunications.
- China has successfully tested the power system of Long March-5, a fifth generation of carrier rocket belonging to China’s Long March family of rockets. This announcement was after Long March-5 rocket carrier, entered a runoff phase. It has payload capacity of 14 tonnes to geostationary transfer orbit and 25 tonnes to low Earth orbits.
- Chinese financial hub Shanghai has approved the first work permit for an international student who has just graduated doing away with mandatory two year experience for foreign students who graduate from Shanghai universities with a master’s degree or above and seek a job in the Shanghai Pilot Free Trade Zone or the Zhangjiang National Innovation Demonstration Zone. Foreign students graduating from Chinese universities with a bachelor’s degree or above who aim to bring entrepreneurial skills to the city will get a two-year residence permit as well, according to the new policy.
- Chinese government has finally decided to relax its guidelines and will allow video game makers to manufacture and sell their gaming devices anywhere in the country. Video game consoles were first banned in 2000 over concerns that these games would have a negative mental and physical affect on the development of children. However, last year, the country allowed game makers to operate in an experimental free trade zone with certin restrictions. Video game makers like Sony, Nintendo, and Microsoft among others now have the chance to once again sell their gaming consoles in the Chinese Market.
- A total of 14 members of a Chinese religious cult have been jailed for up to three years after two members were executed this year for killing a woman. Nine members of the banned Quannengshen group were convicted of “undermining the implementation of laws by making use of cult organizations. The organisation appeared in the 1990s and the founder and his wife fled to the United States in 2000. Followers of Quannengshen, whose name can be translated as Church of Almighty God, believe that Jesus has been reincarnated as a Chinese woman — the wife of the cult’s founder.
- Tunisia’s Parliament has adopted a new anti-terror law, which seeks to counter the threat posed by militants especially jihadist threat overwhelmingly by 174 members of parliament with ten abstentions and no votes against the bill. It allows government authorities to detain suspects for 15 days without access to a lawyer or appearance before a judge and convicted of terrorism in Tunisia will face the death penalty. To give government authorities powers to tap suspects’ phones for investigational purpose to avert threats and terrorist attacks.
- A well-preserved skeleton of a Bronze Age teenager, dating back to 4,000 years, has been discovered in a fetal position near the prehistoric monument Stonehenge in UK, discovered by University of Reading archaeologists excavating Wilsford Henge in the Vale of Pewsey, Wiltshire. The well-preserved remains were found near the bottom of a Neolithic henge in Wilsford. The body, roughly 1.5m in length, was placed in a foetal position with legs drawn up, arms crossed and head turned to the right, and was wearing an amber necklace.
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