Important Current Affairs 3rd August

BSE Roll Out New Services on MF Platform

1. Leading stock exchange BSE has said it has introduced two new services.
2. It has introduced Systematic Transfer Plan and Systematic Withdrawal Plan on its mutual fund trading platform.
3. The exchange has a mutual fund trading platform — BSE StAR MF.
4. The exchange had introduced a host of new services on its mutual fund platform, including digital non-demat transactions.

Citi keep FY17 Growth at 7.7% on Monsoon

1. India’s GDP is expected to expand at 7.7% this financial year says a Citigroup report.
2. The pace of growth of activity indicators like commercial vehicle sales,power demand among others,slackened in April-May.
3. The report further noted that it is comfortable holding on to its 7.7% 2016-17 GDP growth forecast for now because of rural economy boost from a better monsoon.

Benami Transactions Bill gets RS Nod

1. Parliament has passed the Benami Transactions (Prohibition) Amendment Bill, 2015.
2. It will pave the way for a comprehensive legislation to tackle black money.
3. The bill provides for confiscation of benami properties assets held in the name of another person or under a fictitious name to avoid taxation.
4. The bill was passed by the Lok Sabha last week.

Govt Announces Plan to Launch New ETF

1. The govt has invited bids from asset management companies (AMCs) for the launch of a new exchange traded fund (ETF).
2. It will comprise of shares of listed central public sector enterprises (CPSEs).
3. The proposed new ETF will be in addition to the existing CPSE ETF launched in March 2014.
4. The new ETF will serve as an additional mechanism for the government to monetize its shareholdings.

ICICI Bank Reduces Lending Rate by 0.05%

1. India’s largest private sector lender ICICI Bank Ltd has announced a 0.05% reduction in its marginal cost of funds-based lending rate (MCLR).
2. The overnight MCLR will be 8.90% under the revised rate structure.
3. The one-year MCLR, to which the home loans are linked, has moved down to 9.10%.
4. MCLR has replaced the previous ‘base rate‘ that was being used previously.

ICICI Bank, Apollo Tie up for Bad Loans

1. ICICI Bank & America’s Apollo Global Management have come together to set up a firm that aims to make money by recovering from bad loans purchased from banks.
2. The partners are looking at setting up an asset reconstruction company (ARC), a fund and an operations and management company.
3. In terms of the agreement between the two will apply for a licence to set up an ARC with the RBI.

Japan Cabinet Approves Stimulus Package

1. Japan’s cabinet has approved an economic stimulus package worth more than 28 trillion yen or $275bn.
2. It is the latest attempt by Prime Minister Shinzo Abe to kick-start the world’s third-largest economy and boost growth.
3. The package includes 7.5tn yen in new spending for the national & local govts over the next two years.
4. More than half of that sum has been earmarked for the current fiscal year.

Katju Appointed Head of BCCI Legal Panel

1. The BCCI has appointed Markandey Katju as the head of a 4 member legal panel to help the Board understand the implications of the Justice Lodha Committee reforms.
2. Justice Katju has been a judge in the Supreme Court from 2006 to 2011.
3. Lodha Committee reforms have been made binding.
4. The committee is expected to help BCCI in implementing the reforms in the next six months.

India, West Indies to Play T20s in U.S.

1. The Indian cricket team for the first time will be playing international matches in the United States of America.
2. It will take on reigning World T20 Champions West Indies in a two-match T20 series in Florida.
3. The two matches will be held on Aug 27 & 28 in Florida’s Fort Lauderdale.
4. This is BCCI’s initiative to get into the untapped market in the US where there is a big Indian diaspora.

Goel, Mary Kom Launch Campaign

1. Sports Minister Vijay Goel & five-time world champion MC Mary Kom has launched a Digital Campaign of Wishes for the Indian contingent.
2. In order to promote awareness about the Olympic Games,Goel inaugurated Wall of Wishes at India Gate Lawn.
3. This year India is sending its largest ever contingent in the Olympic.
4. This initiative comes after the Run for Rio event organised by Sports Ministry.

Shot Putter Inderjeet Fail B Sample Test

1. Shot putter Inderjeet Singh’s confirmatory B sample also returned positive for banned substances.
2. The reigning Asian champions now face the prospect of being banned for four years under the new WADA Code.
3. He is also virtually ruled out of the Rio Olympics which begins on August 5.
4. He  had claimed it was a conspiracy against him and his sample has been tampered with.

Odisha Govt to Recruit Transgenders

1. The Odisha govt has decided to recruit members of transgender community as warders in jails of the State.
2. Members of transgender community could apply for 185 warders’ posts in jails.
3. The physical standards for transgender will be same as prescribed for women candidates.
4. This is for the first time the state govt will mention the third gender as a separate category in any recruitment process.

WB to Change Name to Banga or Bangla

1. The Mamata Banerjee cabinet finally gave a nod to change West Bengal’s name to either Banga or Bangla.
2. The need for a change of name was essentially for practical reasons of state’s administration.
3. The proposal would be discussed at an all-party meeting & then special session of Bengal Assembly will been convened.
4. Following that, the matter would be put before the Parliament for consideration

Ministry of Comm Launches Twitter Sewa

1. Minister of Communications Sh.Manoj Sinha has launched Twitter Sewa for addressing the complaints &concerns of common man in the telecom &postal sectors.
2. The twitter handle will be @manojsinhabjp.
3. Users-public can tweet their grievances & complaints to the minister’s Twitter handle.
4. These tweets will then be classified & sent from the minister’s handle as open tickets to the various dept.

Resolution Passed On Renaming Madras HC

1. The Tamil Nadu Assembly has passed a unanimous resolution that the Madras High Court be renamed as Tamil Nadu High Court &
2. The centre has proposed to rename as High Court of Chennai.
3. The Bill was introduced in Lok Sabha with an aim to modify the names of the High Court’s (HCs) of Bombay, Calcutta & Madras.
4. Madras City was renamed as Chennai in 1996 by an Act.

Tata Trusts, Global Fund Join Hands

1. Tata Trusts & the Global Fund have joined hands to launch India Health Fund (IHF).
2. It is aimed at addressing key health challenges in the country – starting with malaria & tuberculosis.
3. The fund plans to support programmes & projects that develop new products or strategies for innovative business models.
4. The Global Fund is a 21st-century partnership against diseases such as AIDS & tuberculosis.

Rajnath Singh to Attend SAARC Summit

1. Home Minister Rajnath Singh will visit Pakistan to attend the7th SAARC Home Ministers’ conference.
2. During the two-day Saarc meet, Singh is expected to raise New Delhi’s concerns about Islamabad’s support for terror groups.
3. He will reach Islamabad on Wednesday & return to New Delhi the next day.
4. India has ruled out a meeting between Singh and his Pakistani counterpart or other leaders.

North Korea Test-Fires Ballistic missile

1. North Korea has launched a ballistic missile that landed in or near Japanese-controlled waters for the first time.
2. It was the latest in a series of launches by the isolated country in defiance of United Nations Security Council resolutions.
3. The main body of the missile landed in Japan’s economic exclusion zone.
4. Japanese Prime Minister Shinzo Abe described the launch as a grave threat.

Prachanda all Set to Become Nepal PM

1. Nepal Maoist chief Pushpa Kamal Dahal “Prachanda” is all set to become the Prime Minister for the second time.
2. He filed his nomination after receiving crucial backing from the agitating Madhesis by signing a three-point pact.
3. Nepali Congress & CPN Maoist Centre signed a three- point agreement with the Madhesi Front.
4. The election  became necessary after K.P. Oli resigned last month.

3 Indonesian Volcanoes Erupt

1. Eruptions at three volcanoes in Indonesia have darkened skies &  disrupted some flights.
2. Mount Rinjani on Lombok Island near Bali, the Sinabung volcano on Sumatra Island & Mount Gamalama in the Moluccas chain of islands have all erupted.
3. The 3 mountains are among about 130 active volcanoes in Indonesia.
4. Indonesia is  prone to earthquakes & volcanoes because it sits along the Pacific Ring of Fire.