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Current Affairs week 35Pdf.

23-29 August

Banking

Bandhan Bank

The new bank in India, rolled out its

services in on 23 August 2015.

To Know: Bandhan Bank had recently

received its universal banking licence a

year after getting a provisional licence

from the Reserve Bank of India (RBI) in

April last year along with IDFC. Union

Finance Minister ArunJaitley inaugurated the bank at a ceremony held at

Kolkatas Science City Auditorium. Bandhan Bank started its operations with a

bang with 501 branches spread across 22 states in the country. Bandhan

Bank is the part of the Bandhan Financial Services (BFS), Indias largest

micro finance institution (MFI), which started its journey in 2001 when

Chandra SekharGhosh quit his job to set up an institution through which hehoped to help the poor.

ICICI Banks Extraa Home Loan

The private-sector bank on 26 August 2015 launched Indias first

home loan backed by mortgage guarantee.

To Know:ICICI Bank launched countrys first-ever mortgage

guarantee-backed home loan named ExtraaHome Loan. Thishome loan product allows consumers to increase borrowing by

5-20% and the tenure up to 67 years of age. Typically, banks do

not allow home loan tenures beyond 60 years of age. This loan scheme can

help in meeting the shortfall in loan for a fee if there is a difference in the

amount needed by customer and the amount sanctioned by the bank. Main

benefit of this product will be that the customers can opt for higher loan

amount or longer tenure while keeping the EMI same. Since the risk for the

additional home loan would be borne by India Mortgage Guarantee

Corporation (IMGC), it would not impact the banks books.

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YES Bank

The Till opening of Bandhan Bank on 23 August 2015, Yes

Bank was the last entrant into Indias banking sector.

To Know:Yes Bank, which started its operations in 2004, wasthe last entrant in Indias banking sector till Bandhan Bank,

which went into operations on 23 August. Yes Bank is presently

the fifth-largest private sector bank in India after ICICI Bank, HDFC

Bank, Axis Bank and Kotak Mahindra Bank.

Government- Policy

Three Wings of Niti Aayog

During August 2015 the Union Govt. notified the

complete structure of the NITI Aayog, almost 8 months

after it was constituted to replace the Planning

Commission. According to this notification NITI Aayog

will have how many key wings?Three

To Know:As per the official order dated 14 August

2015, NITI Aayog would have three key wings called the

Team India Hub, the Knowledge and Innovation Hub and

the Flexi Pool. The said three wings will be under the Chief Executive of NITI

Aayog. As per the order the total number of posts for Team India Hub,

Knowledge and Innovation Hub and Flexi Pool shall be 146, 173 and 98

respectively.

India Energy Security ScenariosIESS 2047

The interactive energy scenario building tool that was launched by the NITI

Aayog on 27 August 2015 that aims to explore a range of potential future

energy scenarios for India.

To Know: The tool aims to explore a range of potential future energy

scenarios for India, for diverse energy demand and supply sectors leading up

to 2047. It explores Indias possible energy scenarios across energy supply

sectors such as solar, wind, bio fuels, oil, gas, coal and nuclear and energy

demand sectors such as transport, industry, agriculture, cooking and lightingappliances.

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India Demography

The Religious Census data:

The Union Government on 25 August 2015 released the religious census data

of 2011.

To Know:

Total population of the country stood at 121.09 crore in 2011

Hindus constitute 79.8% (96.63 crore)of the population

Muslims constitute 14.2% (17.22 crore)of the population

Christians constitute 2.3% (2.78 crore)of the population

Sikhs constitute 1.7% (2.08 crore)of the population

Buddhists constitute 0.7% (0.84 crore)of the population

Jains constitute 0.4% (0.45 crore)of the population

The proportion of Hindu population to total population declined by 0.7

percentage point (PP)

The proportion of Muslim population to total population increased by

0.8 PP

The share of Hindus in the population has slipped below 80% for the

first time

Muslims are the only community to register a growth in their share of

the population

The growth rate of Muslims is the highest at 24.6%. Hindus follow with

a 16.8 per cent growth rate; Christians come next with 15.5 per cent.

The growth rates of Sikhs, Buddhists and Jains are less than 10 per

cent.

However, the rate of increase for Muslim community has reduced from

the previous decade, when the Muslim share in the population had

increased by 1.73%

Christians are the only community (among major religions) in India that

has more women members than men

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Insurance

The institute celebrated Diamond Jubilee (60 years) of its foundation

TO Know:The Insurance Institute of India (III) is an insurance

education society of professionals established in 1955 in Mumbai for

the purpose of imparting insurance education to persons engaged or

interested in insurance. It is the topmost professional institute in India

devoted solely to insurance-related education. III observed its

60thanniversary (Diamond Jubilee) on 26 August 2015. III was

formerly known as the J.C. Setalvad Memorial Federation of Insurance

Institutes. In the last 60 years, the Institute has grown into a professional body

serving the cause of the Insurance Industry by promoting insurance studies,conducting examinations and undertaking research.

Market and Industry

SENSEX biggest crash

Slowdown of Chinese economy and devaluation of Chinese currency Yuan

Owning to poor performance of Chinese economy Major financial markets of

the world, including India, witnessed a huge decline on 24 August 2015. The

BSE Sensex closed the day at 25,741.56, down 1,624.51 points.

To Know:The woes associated with Chinese economy hit the global financial

markets. Global markets crashed on 24 August following weeks of reports

regarding Chinas low economic growth as its consumption story further

faltered. This was in addition to other irritan ts such as Europes woes and a

general slowdown in economies across the globe. In Indian capital markets,

the loss suffered by the 10 biggest companies in terms of market

capitalisation was itself close to Rs. 2 lakh crore. This fall was the biggest

since 21 January 2008 when the Sensex crashed by 2,062.2 points. On the

other hand Indian rupee went down to 66.49, plunging a whopping 66 paise,

which was their lowest level in nearly two years.

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Sports

Indian Womens Hockey Team in Olympics

Indian womens hockey team created history as it made

its return to the Olympics after a long gap of 36 years.

This became possible as it qualified for next years Rio

(Brazil) Olympics on 28 August 2015.

To Know:Indian womens hockey team qualified for

2016 Rio Olympics as England made it to the final of the

ongoing Euro Hockey Championships in London.

Englands semi-final victory over Spain on 28 August, coming after the

Netherlands win over Germany in the other semi-final in the European

Championships freed one quota place as both the finalists have already

qualified for the Olympic Games. India took the quota place on the basis of its

fifth-place finish in the womens Hockey World League Semi-finals in Antwerp,

Belgium last month. Indian womens team now join nine other teams, who

have already qualified for 2016 Rio Games Korea as Asian Games

champions, Argentina as Pan Am Games champions and Great Britain,

China, Germany, Netherlands, Australia, New Zealand and the USA through

the Hockey World League Semi-Finals. Indian womens hockey team lastfeatured in an Olympics in the 1980 Moscow Games, where they finished at a

respectable fourth position.

PUNE (Maharastra)

For the first time in the history of weightlifting, an

individual international tournament will be organised in

India. The country will host the Commonwealth Youth,

Junior and Senior Weightlifting Championships at

PUNE.

To Know: Pune (Maharashtra) will host the

Commonwealth Youth, Junior and Senior Weightlifting

Championships. The championships will be held from

11 to 15 October 2015. This would, thus, be the first

time the country will host an individual international weightlifting tournament.

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Sports Award: Rajiv Gandhi KhelRatna

Sania Mirza was conferred the Rajiv Gandhi Khel Ratna award at

the Rashtrapati Bhawan on 29 August 2015. Along with her, 16

sportspersons and five coaches were also honoured with

National Sports Awards on this occasion. With this Sania Mirza

became the Second tennis player to get the Rajiv Gandhi Khel

Ratna.

To Know:The Rajiv Gandhi KhelRatna was instituted in 1991-92 as the

highest award for sportsperson in India. With Sania Mirza being conferred

with it, as many as 28 sportsmen have been awarded this prestigious award

till date. It was first conferred on Vishwanathan Anand, the former Chess

world champion, in 1992. Sania Mirza also became the second tennis player

after Leander Paes to win the award.

List of all awardees:

Rajiv Gandhi KhelRatna Award:SaniaMirza (tennis)

Arjuna Award:P.R. Sreejesh (hockey), DipaKarmakar (gymnastics), JituRai

(shooting), Sandeep Kumar (archery), MandeepJangra (boxing),

BabitaKumari and Bajrang (wrestling), Rohit Sharma (cricket), K. Srikanth

(badminton), Swarn Singh (rowing), S. Satish Kumar (weightlifting), Sanothoi

Devi (wushu), SharathGayakwad (para-swimming), M.R. Poovamma(athletics), ManjeetChillar, AbhilashaMhatre (kabaddi), Anup Kumar Yama

(rollerskating).

Dronacharya Award:Naval Singh (para-athletics), Anoop Singh (wrestling),

Harbans Singh (athletics-lifetime), Swatantar Raj Singh (boxing-lifetime),

NiharAmeen (swimming-lifetime).

Dhyan Chand Award:Romeo James (hockey), Shiv PrakashMisra (tennis),

T.P.P. Nair (volleyball).

Tenzing Norgay National Adventure Awards 2014:ArunimaSinha (land),

Jot Singh (land), Paramvir Singh (water), SatyendraVerma (air),

SatishChander Sharma (lifetime).

MaulanaAbulKalam Azad Trophy:Punjabi University, Patiala.

RashtriyaKhelProtsahanPuraskar:Directorate-General of Military Training(identification and nurturing of budding/young talent), Coal India Limited(encouragement of sports through corporate social responsibility), HaryanaPolice (employment of sportspersons and sports welfare measures), Sports

Coaching Foundation, Hyderabad (sports for development).

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Usain Bolt

Usain Bolt of Jamaica produced one of his greatest

races ever to retain the world 100m title at IAAF

World Championships, Beijings Nest Stadium on 23

August 2015. He thus defeated the clear favourite

Justin Gatlin (US) by one hundredth of a second.

To Know:Bolt completed the race in 9.79

seconds,Gatlin finished the race in 9.80 seconds.

Canadas Andre de Grasse and young American TrayvonBromell were both

awarded bronzes in 9.92 seconds. With this run Bolt also put a troubled build-

up behind him to beat two-time doper Justin Gatlin. It is worth mentioning that

Gatlin had ran incredible heats and semi-final races to build-up a showdown

final with Bolt as he was seemingly looking out of sorts.

India States Smart Cities

Uttar Pradesh

Indian state which has been allocated highest number of 13 cities in this

coveted list. On 27 August 2015 announced the list of 98 cities and townsselected under Smart Cities Mission.

To Know:Uttar Pradesh has the highest number of allocated cities (13) in the

Smart Cities Mission as announced on 27 August 2015 by M. Venkaiah

Naidu, the Union Minister of Urban development. However, only 12 cities

have been shortlisted from Uttar Pradesh against 13 cities allocated to the

state and one city will be nominated later for which there is a tussle between

Meerut and Raibareilly. Tamil Nadu has been allocated 12 cities, followed by

10 from Maharashtra and 7 from Madhya Pradesh. Centre hasearmarked Rs. 48,000 crore for development of 100 smart cities. All Union

Territories, including Delhi, have found place in the list. Prime

Minister Narendra Modi had launched the criteria and guidelines for 100 smart

cities to be selected through city challenge competition on 25 June 2015. In

the first phase, Centre has picked 20 cities and in the next two years 40 cities

each will be selected for receiving Central funding of Rs. 500 crore spread

over the next five years. Each smart city will get a Central assistance of Rs.

100 crore per year for five years.

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Personality

MM KalburgiSahityaAkademi

The renowned Kannada writer who was shot dead was winner of the

SahityaAkademiaward.

To Know:M. M. Kalburgi was a noted Kannada epigraphist and a

renowned scholar of the Vachana literature. He was awarded the

SahityaAkademi, New Delhi, Karnataka State SahityaAkademi,

Nrupatunga Award and the Pampa Award among others. He was also a

former vice-chancellor of Kannada University. He was shot dead for unknown

reasons by two assailants in Dharwad on 30 August.

Rani Gaidinliu - Nagaland

The birth centenary celebration of Rani Gaidinliu of

Nagaland, was inaugurated by Prime Minister

NarendraModi, on this occasion a commemorative

coin was released to recall Ranis contribution to

Indias freedom struggle.

To Know: Rani Gaidinliu (1915-1993) was aprominent political leader of Nagaland who led a famous revolt against the

British. She was part of the Heraka religious movement that ultimately turned

into a political movement seeking to drive out the British from Manipur and the

surrounding Naga regions. She was arrested by the British in 1932 at the age

of 17 and remained in various prisons till her release in 1947 after Indias

Independence. An advocate of the ancestral Naga religious practices, she

staunchly resisted the conversion of Nagas to Christianity. She died on 17

February 1993 at the age of 78. Because of the Heraka movements hostility

towards Christianity, Gaidinlius heroics were not acknowledged highly among

the Nagas, most of who had converted to Christianity by the 1960s.

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Environment

Erika

What is the name of the tropical storm that hit the Caribbean region on 28 and

29 August 2015, affecting numerous countries including Dominican Republic

and Haiti?

To Know:Tropical Storm Erika hit Dominican Republic the most with around

15 inches (38 centimeters) of rainfall recorded in the island country. Dominica

Prime Minister Roosevelt Skerrit claimed that the damage inflicted by the

storm set the country back 20 years. It killed at least 20 people while 31

others were missing. Erika carried enough force to knock out power to more

than 200,000 people in Puerto Rico and cause more than $16 million in

damage to crops there.

Information & Technology

Facebook Milestone: Over a Billion people used Facebook on 24th

August.

Social networking site Facebook achieved which milestone figure on

24 August, for which its founder Mark Zuckerberg made an

announcement on 27 August 2015.

To Know:Facebook achieved this milestone for the first time in its

around 11-year existence. According to the announcement made by Mark

Zuckerberg on 26 August The milestone was reached on Monday (24

August), when 1 in 7 people on Earth used Facebook to connect with their

friends and family. It is worth mentioning that Facebook has nearly 1.5 billionusers who log in at least once a month, but this was the most in a single day.

The company gained its billionth user in October 2012. It was founded in 2004

by Zuckerberg while he was a Harvard student.

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Foreign Affairs

India fourth country to have hotline with US President.

After Russia, Great Britain and China having a hotline (direct secure

line of communication) with the US President, Indiabecame fourth

country to establish hotline between Indian Prime Minister

NarendraModi and US President Barack Obama. For India this is the

first hotline at the level of head of state.

Space & Research

Supermoon

Important lunar activity was observed on 29 August 2015.

To Know:Supermoon, a term coined by astrologer Richard Nolle

more than 30 years ago, is used to describe a new or full moon

that coincides with the moon reaching its closest point to Earth on

its orbit. According to astronomers, a new or full moon has to come

within 224,834 miles of the Earth to be considered a supermoon. A

supermoon occurs when its a new or full moon, which closely

coincides with perigee the Moons closest point to Earth in its

orbit. On a Supermoon day, the moon typ ically looks around 14% bigger

than a normal day.

GSAT - 6

Indian Space Research Organisation (ISRO) on 27 August

2015 successfully placed GSAT 6, the communication

satellite in orbit through GSLV D-6 rocket.

To Know: GSAT-6 will provide S-band communicationservices in the country. It is aimed at primarily benefiting

the countrys strategic users and other specific authorised

users. The cuboid-shaped satellite with a mission life of

nine years also includes a first-of-its-kind S-Band unfurlable

antenna with a diameter of six metre. This is the largest

antenna ISRO has ever made for a satellite. It was also the

25thhome-made communications satellite launched by

ISRO using the Geo-synchronous Satellite Launch Vehicle (GSLV) that uses

an Indian made cryogenic engine being tested for the third time.

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Disinvestment

Public Sector - Disinvestment

On 24 August 2015 the government divested 10% of its stake in

Indian Oil Corporation.

To Know:The governments 10% stake sale in Indian Oil

Corporation on 24 August was over-subscribed despite high

market turmoil. The stake sale received bids for over 28.74 crore

shares, representing 1.18 times the 24.28 crore shares on offer.

At the floor price of Rs. 387 apiece, the sale of 24.28 crore shares would fetch

about Rs. 9,300 crore to the exchequer, after considering 5% discount being

offered to retail shareholders. The government has already raised over Rs.

3,300 crore through stake sales in three PSUs (Rural Electrification

Corporation (Rs. 1,610), Power Finance Corporation (Rs. 1,600 crore) and

Dredging Corporation of India (Rs. 145 crore) this fiscal. The government is

targeting to raise Rs. 69,500 crore from disinvestment in the current fiscal.

Life Insurance Corporation (LIC)

The public-sector financial entity salvaged the 10% stakesale of Indian Oil Corporation (IOC) held on 24 August 2015

by buying as much as 86% shares on the offer.

To Know:LICs purchase of 86% shares in IOCs stake sale

is significant because the day of disinvestment (24 August)

had witnessed Indian share markets biggest tumble in more

than 6 years. With this purchase, LICs stake in IOC rose to 11.11% from

2.52%. LIC, Indias biggest investor, has in the past dug into i ts pockets to

prop up government sales, buying up state banks and government mining

firms. It heavily supported the sale of Coal India (CIL) in January 2015 and the

disinvestment in SAIL last year. The investments have sometimes proved

fruitful for LIC, with stock in the State Bank of India, which was invested in

January 2014, up more than 60%.

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Place

Haji Pir Pass (J&K)

50thanniversary of the 1965 war with Pakistan was observed on 28 August

2015 with the country paying rich tributes to the brave soldiers of the Indian

Union. Exactly 50 years back, on 28 August 1965, India had captured this

strategically important pass from Pakistan.

To Know:On 28 August 1965 a team of soldiers from the 1 stPara, led by the

then Major RanjitDyal, had captured the strategic Haji Pir pass, which lies a

few kilometres beyond the present Line of Control between India and

Pakistan. The capture was part of an offensive strategy planned by the

legendary Lieutenant General Harbaksh Singh, who was then the Western

Army commander. While launching the final assault on the pass on 28

August, the paratroopers had to walk up 4,000 feet on foot.

Madhya Pradesh

To host the worlds largest 750 Mega Watts (MW)

solar power station.

To Know:The worlds largest solar power station of

750 Mega Watts (MW) capacity will be established in

MPs Rewa district, to be spread over 1,500 hectares

area at Bandwar region in Gudh tehsil of Rewa district.

The plant is expected to start generating solar energy by March 2017. The

project, named Rewa Ultra Mega Solar, will be a joint venture of Solar Energy

Corporation of India and MP UrjaVikas Nigam. At present, worlds largest

solar power project Ivanpah Solar Power Facility of 392 MW, is at Mojave

Deserts in California, United States.PhilippinesGoni Cyclone

The name of the cyclonic storm that battered Japan on 24 August 2015 with

wind speeds of over 250 km/ hr. after large-scale destruction in the

Philippines.

To Know: Typhoon Goni is the ninth of about 20 storms and typhoons that

are expected to batter the Philippines this year.

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