Banking and Financial Awareness 21 July 2015 - 26 July 2015
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Economy Current Affairs
What is the name of the new awareness campaign that was launched on 21 July 2015 with the objective of creating mass awareness and capacity building for safe and hygienic food in India?: “Surakshit Khadya Abhiyan”
Explanation: Union Minister of Consumer Affairs, Food and Public Distribution has launched “Surakshit Khadya Abhiyan” on 21 July 2015. The campaign has been planned by CII and its partners including Consumer Organization VOICE, and National Association of Street Vendors of India (NASVI). The objective of the campaign is put a comprehensive effort to establish a culture of food safety in the country. Under this Surakshit Khadya Abhiyan, nationwide sensitization sessions on cleaning, hygiene and sanitation for safe food, walkathons and media dissemination programmes for consumers, street food industries will be organized across the country.
Which City became first in the country to submit nomination for the Centre's ambitious smart city project on 22 July 2015?: Union territory of Puducherry
Explanation: The territory nominated its capital city Puducherry for inclusion in the 100 smart cities mission launched by the BJP government on June 25, 2015. The urban bodies include Puducherry, Oulgaret, Karaikal, Mahe and Yanam. The Union Territory, with a population of 6,57,209, has done well in the first stage of evaluation and scored 75 out of the possible 100 marks. The committee also highlighted that Puducherry municipal corporation achieved 18% improvement in provision of household sanitary latrines since 2011, increased internal revenue generation over the three-year period (2012-13, 2013-14 and 2014-15), paid salaries of the employees till last month and got its accounts audited till 2012-13.
The New Development Bank (NDB) set up by the BRICS nations to step up infrastructure funding in the emerging economies formally started its operations in which of the country?: Shanghai - China
Explanation: BRICS economies Brazil, Russia, India, China and South Africa launched the multi-billion dollar development bank at the 7th BRICS summit held in the Russian city of Ufa on 8th July 2015. K V Kamath – aged 67, will be the bank's 1st President for the first five years. The opening ceremony was attended by the Chinese Finance Minister Lou Jiwei, Shanghai Mayor Yang Xiong and the bank's President K V Kamath in a hotel in Shanghai. The NDB is also backed by the China-floated USD 50 billion Asia Infrastructure Investment Bank (AIIB) in which India and 56 other countries have joined. The NDB will have initial capital of USD 50 billion, which will be expanded to USD 100 billion within the next couple of years.
With introduction of composite cap in foreign investment policy, portfolio investors can invest up to what percent in multi-brand retail and e-retail companies without government approval?: 49 percent
Explanation: India allows 100 percent FDI in business-to-business (B2B) e-commerce through automatic route, but not in B2C companies selling directly to consumers. It is worth to mention that it is the ruling BJP government who was against the opening of multi-brand retail to FDI, however introduces the composite cap which has opened the gates for portfolio investors (FIIs, FPIs and QFIs) to pick up to 49 percent in the politically sensitive sector without the government's nod. At current, 51 percent foreign direct investment is permitted in the multi-brand retail sector. FIIs, depository receipts (DRs) and FVCI (foreign venture capital investors) can invest up to 49 percent in e-retail sector without government's approval. However, investors will require FIPB's (foreign investment promotion board) approval for investing beyond 49 percent in a company.
Prime Minister Narendra Modi on 20 July 2015 launched the National Career Counselling (NCS) Portal as part of an endeavour to modernise all government-run employment exchanges. To registered with NCS, in the beginning the job seekers have been asked to furnish which primary detail?: Aadhaar number
Explanation: The National Career Service (NSC) portal was launched at the 46th session of Indian Labour Conference with the aim to bring on board around 20 million job seekers already registered with employment exchanges across India. It also aspires to bring 900,000 establishments and companies on the portal. The NCS will offer registration for job aspirants and employers for free. In the same way to reduce or eliminate the fraud and error, companies and organisations are also need to submit their society registrations or company registration certificate copies while getting registered on the job portal.
Finance Current Affairs
Union Government on 21 July 2015 extended which scheme to Public Sector Banks (PSBs), private sector commercial banks, rural regional banks (RRBs), cooperative banks and NABARD to ensure availability of crop loans of up to 3 lakh rupees to farmers at 7 percent per annum?: Interest Subvention Scheme (ISS)
Explanation: The decision was taken by the Union Cabinet chaired by Prime Minister Narendra Modi for the fiscal 2015-16. The Cabinet also approved an additional interest subvention of 3 percent per annum for those farmers who repay on time. The government also decided to provide interest subvention to small and marginal farmers with Kisan Credit Cards (KCC) for loans against negotiable warehouse receipts post-harvest at annual interest of seven percent for six months along with it to give relief to farmers affected by natural calamities, where the interest subvention of two percent will continue to be available to banks for the first year on the restructured amount. The cabinet also gave its in-principle nod for the revival of Banana Research Centre at Goraul in Vaishali, Bihar.
The Income Tax department on 21 July 2015 has launched a e-filing link on its official website for declaring which illegal assets and money using the one-time compliance window notified recently by government?: Foreign assets and Black money
Explanation: The link has been provided on the official e-filing portal of the department-https://incometaxindiaefiling.Gov.In. The relevant 'Form 6' can be used to declare undisclosed assets under the compliance window of the new anti-black money law. According to the scheme, such a declaration filed online by an individual or entity will have to mandatorily bear a "digital signature" for validation. A digital signature authenticates electronic documents in a similar manner as a handwritten signature validates printed or hand-written documents. It cannot be forged and it asserts that a named person wrote or otherwise agreed to the document to which the signature is attached.
- Surakshit Khadya Abhiyan
- Consumer Organization VOICE
- National Association of Street Vendors of India
- Narendra Modi
- Aadhaar number
- National Career Service
- New Development Bank
- BRICS nations
- V Kamath
- foreign investment policy
- Income Tax department
- Foreign assets and Black money
- digital signature
- Interest Subvention Scheme
- rural regional bank
- Kisan Credit Cards
- smart city project
- Puducherry municipal corporation
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