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Daily Current Affairs – 15th and 16th July 2015, Wednesday and Thursday

1. RBI organises the Deepak Mohanty committee 

(i) The Reserve Bank of India (RBI) has constituted a committee to review the existing financial inclusion policy and work out a five-year measurable action plan for the same.

(ii) The RBI Executive Director, Deepak Mohanty, will chair the committee. 

(iii) The committee will
articulate policies and the institutional framework for financial literacy and
consumer protection. It will also study mechanisms to financially aid
households and small businesses, especially in rural areas, through group-based
credit delivery mechanisms, among other activities.

2.Tata Advanced Systems and Boeing to collaborate in aerospace and defence manufacturing

(i) Tata Advanced Systems Limited (TASL) signed an agreement with Boeing to join forces in aerospace, defence manufacturing and potential integrated systems development opportunities, including unmanned aerial vehicles. 

(ii) The agreement was signed by Shelley Lavender, president of Boeing Military Aircraft, and Sukaran Singh, MD and CEO of TASL..

(iii) TASL already has a contract to manufacture aerostructures for Boeing’s CH – 47 Chinook and AH – 6i helicopters. 

3. One of the five PPP rail lines launched in Gujarat 

(i) Government of India launched the Gandhidham – Tuna – Tekra rail line, built under the Public Private Partnership (PPP) systems in the Indian Railways. It was commissioned on 14th July 2015. 

(ii) The new line between Gandhidham and Tuna -Tekra port is built by Kandla Port Trust under “participative models for rail connectivity and capacity augmentation.”

(iii) The total length of the line is 17.02 km and the project costs about Rs.185 crore.

4. Government introduces the foreign investment composite cap 

(i) Union Finance Minister, Arun Jaitley on July 16 announced that all FIIs, NRIs and other foreign investments will be clubbed. It will be constituted as a composite cap.

(ii) At present there are different caps for investment categories like FDI, FII and NRIs. Thus, this step aims to simplify the FDI policy, attract more foreign investments and enhance ease of conducting business in India. 

iii) The ministry has proposed a composite foreign investment cap (FDI + FPI (FII, QFI) + NRI + FVCI) in sectors including agriculture, airports, retail, e-commerce, asset reconstruction companies, tea, mining, broadcasting, media, banking, commodity exchanges and insurance.

Note: Foreign institutional investor (FII), foreign direct investment (FDI), foreign portfolio investment (FPI), qualified foreign investor (QFI), non-resident Indian (NRI), foreign venture capital investor (FVCI). 

4. National Heritage City Development and Augmentation Yojana (HRIDAY) launched at Amritsar

(i) The National Heritage City Development and Augmentation Yojana (HRIDAY) was launched on July 14 for 12 cities including Amritsar where the launch took place.

(ii) The government has sanctioned Rs. 69.31 crore as 100% grant for Amritsar city. 

5.  Professor Kamal Bawa elected to Royal Society of London

(i) Professor Kamal Bawa along with 2 other Indian -origin scientists were elected as Fellows and Foreign Members of Royal Society of London.

(ii) Biology professor K Bawa, physicist Ajay Sood and molecular biologist John Kuriyan were inducted into the society on July 10. 

(iii) The 450-year-old society elects eminent scientists from England and the Commonwealth countries.

6.  World Youth Skills Day observed

(i) Every year, July 15th is celebrated as World Youth Skills Day all over the world.

(ii) To mark this day, the government launched the Skill India initiative with the aim of making India the ‘human resource capital’ of the world. The programme was projected as the government’s ‘war against poverty’. 

(iii) With this programme, the government aims to equip over 40 crore people with adequate skills by 2022.

7. Joan Sebastian, renowned Mexician musician passes away

(i) Well known Mexican musician Joan Sebastian passed away on 13th July, after fighting bone cancer over a decade.

(ii) He was one of the most recorded and top selling contemporary artists of all the times.

(iii) In his singing career,  he had 22 hits on Billboard’s Hot Latin Songs chart, including seven top 10s. On the Regional Mexican Airplay chart, he charted 32 songs – the third most for a solo act – with four of those hitting No. 1.

8.  Awards in news

(a) Make in India initiative bagged the Frost and Sullivan 2015 Awards – Frost and Sullivan, USA today presented the 2015 Asia – Pacific Economic Development Innovation: Policy and Program Implementation Excellence Award in Manufacturing to the Department of Industrial Policy and Promotion for the Make in India initiative on 14th July 2015. 

(b) Golden Peacock Award – The Krishanpatnam Port in Andhra Pradesh received the Peacock environment management award on July 13 for its achievements in the field of environment. The award was presented by Union Minister of State for Environment Prakash Javadekar to C Sasidhar, MD of Krishnapatnam Port at the 17th World Congress on Environment Management held in New Delhi.

(c) Annual PetroFed Oil and Gas Industry Awards – Some of the important awardees include:

* Bharat Petroleum Corp (BPCL) – Leading Oil and Gas Corporate of the year award

* Oil and Natural Gas Corp (ONGC) – Exploration & Production Company of the Year 

* Reliance Industries Ltd. (RIL) -Refinery of the Year award. 

* Hindustan Petroleum Corp Ltd (HPCL) -The Oil & Gas Pipeline Transportation Company of the Year’ award 

* Indian Oil Corp (IOC) – ‘Human Resources Management Company of the Year’ award

* Ritu Mathur – The ‘Woman Executive of the Year’ award (Team Leader, Aviation HR, BPCL)

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