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Current Affairs February 1 - 2016

INDIAN AFFAIRS
30th Surajkund International Crafts Mela started at Faridabad
The annual Surajkund International Crafts Mela is inaugurated by Haryana Chief
Minister Manohar Lal Khattar in Faridabad. This year is the 30th edition of the
Surajkund International Crafts Mela. The event will continue till 15 February.
This year Telangana is selected as the Theme State and the last year
Chhattisgarh was selected as the Theme State for the 29th Surajkund
International Crafts Mela.
DIPP gives nod to set up Indias first Defence Industrial Park at Ottappalam
The Union governments Department of Industrial Policy and Promotion (DIPP) has
agreed to set up Indias first defense industrial park at Ottappalam a proposal
from the Kerala Industrial Infrastructure Development Corporation.
It is expected that the park will be established in 231.25 crore, Union
government and Kinfra will invest in the project.
Tamil Nadu to set up 800MW supercritical coal-based power plant
Tamil Nadu CM Jayalalitha laying the foundation stone for the states first
800-MW supercritical coal-based power plant. which will come up at Athipattu
in Tiruvallur district over 250 acres of land.
About the project :
This is the first time in Tamil Nadu that a 800-MW unit is being established
under the supercritical technology.
The project will be completed in August 2019 and 19.2 million units of power a
day will be generated
What is supercritical technology ?
A supercritical steam generator is a type of boiler that operates at
supercritical pressure, frequently used in the production of electric power.Which
operates at pressures above the critical pressure 3,200 psi or 22 MPa
Key points:
TN Capital: Chennai
TN CM: Jayalalitha
TN Governor : Konijeti Rosaiah
INTERNATIONAL AFFAIRS
Israel,Turkey sign gas deal worth $1.3 billion
Israel,Turkey
Israel and Turkish energy firms signed an agreement to sell $1.3 billion worth of
gas to Edeltech announced by Israels Leviathan natural gas field offshore partners.
Highlights of the deal :
The deal involves selling the first gas from the Leviathan reservoir to the
Israeli market.The agreement ensues two memorandums of understandings signed
by the partners with neighboring Jordan and Egypt last year.
Edeltechand Zorlu Enerji, a Turkish energy conglomerate, will employ the gas
to operate two new energy plants being established in southern Israel.
Key points:
Isreal : Jerusalem(Capital), Shekel(Currency)
Turkey : Ankara(Capital), Turkish Lira(Currency)
BANKING & FINANCE
LIC to launches its e-services
Life Insurance Corporation of India (LIC) launches its e-services. The service
will enable policy holders to have easy access to their policies, policy status,
and claim information.
E-services include
Policy image, status of policy, claim status and renewal information
The service includes alerts with Emails and SMS.
The E-service help to access policy related information as well as payment
anytime and anywhere.
Keys
Chairman of LIC S K Roy
Regulator for insurance Companies-Insurance Regulatory and Development
Authority of India (IRDAI)
RBI gives nod to B Swaminathans appointment as Non-Executive Chairman of Karur
Vysya Bank
RBI gives nod for the appointment of Independent Director B Swaminathan as the
Non- Chairman of the Karur Vysya Bank (KVB) for three years.
About KVB
KVB is a private sector Bank its headquartered is in Karur, Tamil Nadu.
It was set up in 1916 by A. Venkatarama Chettiar and Athi Krishna Chettiar.
KVB is one of the largest old generation private banks in India.
It is largest Tamil Nadu based private bank followed by City Union Bank.
BUSINESS
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India exported six metro train coaches to Australia

Creating a history in countrys manufacturing sector, a consignment of six metro
coaches measuring 75 feet long and weighing 46 tonnes each made in Baroda was
shipped to Australia from Mumbai Port .
To turn the country into a global manufacturing destination, a total of 450
metro coaches are to be made in India to be exported to Australia over a
period of two-and-a-half year.
Keyfacts :
India will also be exporting 521 bogie frames to Brazil for Sao Paulo monorail.
Three new Metro coach manufacturing units were established in India in 2015.
Govt bans zero duty import of capital goods for power plants
The government banned duty- free import of capital goods for power generation and
transmission projects under the EPCG Scheme.
Aim: To encouraging manufacturing of power equipment and giving a push to domestic
capital goods sector.
Amending the Foreign Trade Policy 2015-20 authorisation under EPCG Scheme
shall not be issued for import of any Capital Goods for
generation/transmission of power
The government has fixed a target of 88,537 MW power generation capacity
addition for the 12th Plan period ending 2016-17.
About EPCG Scheme :
Export Promotion Capital Goods (EPCG) scheme allows import of capital goods
including spares for pre production, production and post production at zero duty
subject to an export obligation of 6 times of duty saved on capital goods imported
APPOINTMENTS & RESIGNS
Atulesh Jindal to be New CBDT Chief
Atulesh Jindal the 1978 batch IRS officer is appointed as the Chief of Central
Board of Direct Taxes (CBDT).He replaces A K Jain.
Atulesh is currently working as the Senior Revenue Service officer in Income
Tax department.
The Central Board of Direct Taxes consists of Chairman and six members form
the following departments-Income-tax, Legislation & Computerisation, Personnel
& Vigilance, Investigation, Revenue and Audit & Judicial.
Datta Padsalgikar is Mumbai New Police Commissioner
Senior IPS officer Datta Padsalgikar IPS (1982) named as the new Police
Commissioner of Mumbai. Padsalgikar succeeds Ahmed Javed IPS (1980), who has been
appointed as Ambassador to Saudi Arabia.
J K Garg takes over as MD of Corporation Bank
J K Garg has taken over as Managing Director and CEO of Corporation Bank following
the retirement of S R Bansal.
About J K Garg :
He had started his career at Corporation Bank in 1986, and would head the bank
for three years.
Prior to this appointment, Garg was Executive Director in UCO Bank,
Corporation Bank .
Garg has experience in credit management, recovery,forex operations, retail
banking and administration.
Key points :
Corporation Bank HQ : Mangalore, Karnataka
Corporation Bank Tagline : A Premier Public Sector Bank
SCIENCE & TECHNOLOGY
France to partner ISRO in Mars Mission
French space agency Centre National dtudes spatiales (CNES) signed a letter of
intent with the Indian Space Research Organization (ISRO) to be the partner in the
next Mars mission.
The next mission is expected to be launch in 2018.
The reliable PSLV will be used in the second mission in 2018.
India and France also signed agreements for earth observation satelliteto
monitor environment, weather, water resources and coastal zones.
SPORTS
2016 Syed Modi Badminton Title Overview
The 2016 Syed Modi International Grand Prix Gold is the second grand prixs
badminton tournament of the 2016.It was held in Lucknow, India on at the Babu
Banarasi Das Indoor Stadium from 26 31 January 2016.
Fukuoka to host 2021 World Aquatics Championships
Japanese city of Fukuoka will host the 2021 World Aquatics Championships. The
announcement was made by The International Swimming Federation (FINA).
The event will be hosted by Qatari the capital city of Doha.
The FINA World Championships are the World Championships for aquatics sports
like Swimming, Diving, High Diving, Open Water Swimming, Synchronized Swimming
and Water Polo.
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The first championship was held in 1973 and is now it is held every two years.
Keys
President of International Swimming Federation -Julio Maglione
Pietro Fittipaldi wins 2015 MRF Challenge Formula 2000
Pietro Fittipaldi Brazil racing driver has won the 2015 MRF Challenge Formula 2000
by winning two of the four races.
The racing was held in Sriperumbudur, Tamil Nadu at Madras Motor Racing Track.
He wins the game with 244 points by attaining top position among the other
participants.
The 17-year old Pietro Fittipaldi is the grandson of former Formula One World
champion Emerson Fittipaldi.
He began his career in 2011 in the NASCAR Whelen All-American Series by
winning the championship at Hickory Motor Speedway.
Kohli replaces Finch as No 1 batsman in T20 Internationals
Virat Kohli
Virat Kohli was rewarded for his stupendous performance in Indias clean sweep
against Australia in the T20 internationals as he replaced Aaron Finch with 892
points as the top-ranked batsman in the ICC list.
Others position :
Indias Suresh Raina moved up three places to 13th after his impressive
series, while opener Rohit Sharma also moved up four places to be placed 16th
in the list.
David Warner, who scored 17 in the opening match before heading to New Zealand
for the one-day international series against the Black Caps, dropped six spots
to 18th.
West Indies spinner Sunil Narine, who is currently banned by the ICC due to an
illegal bowling action, retained top spot in the bowling.
OBITUARY
Oscar nominated actor Frank Finlay dies at 89
The British actor Frank Finlay who was nominated as Oscar winner in 1966 has died.
The 89 year old Frank work as Iago in Othello.
He was also the member of Laurence Oliviers National Theatre Company.
He also works in filmsThe Three Musketeers (1973), Murder by Decree (1979), A
Christmas Carol (1984) and The Pianist (2002).
Frank was also honored with a CBE (Commander Order of the British Empire) in
1984.
Worlds best chef Benoit Violier dies aged 44
The worlds best Chef Benoit Violier was found dead at his home. He was the owner
of the Restaurant de lHotel de Ville in Crissier, near the city of Lausanne.
He was born in La Rochelle, a coastal city in western France
His restaurant received three Michelin stars and tops in Frances La Liste
ranking of the worlds 1,000 best eateries.
Across the 48 countries Benoits restaurant was given the best of 1000 venues.
Malayalam actor Kollam G K Pillai passes away
A theatre-turned-cinema-actor Kollam G K Pillai is known for his character and
comedy roles in dramas, movies and TV serials died due to age-related illness.
About Kollam G K Pillai :
Pillai had been active in theatre since 1960s and enacted a handful of
memorable roles in noted dramas of that time including Neetipeedham, Kunjali
Maraykkar and Ezharaponnana.
Pillai stepped into tinsel world by donning a role in 1965 movie Masappady
Mathupillai. He had acted in over 70 films including Chula, My Dear
Kuttichathan, Mucheettu Kalikkarente Makal and so on.
Pillai also appeared in some television serials also in the later years of his
acting career.
BOOKS & AUTHORS
Former Prez APJ Abdul Kalams book Transendence launched
Former President APJ Abdul Kalams book Transendence was launched in
Johannesburg, South Africa with religious leaders, politicians, diplomats and
businessmen from all communities sharing the lessons from the book based on his
spiritual experiences with Pramukh Swami Maharaj.
About Transendence :
The book, in which Kalam details his experiences with Pramukh Swami Maharaj,
leader of the global Bochasanwasi Shri Akshar Purushottam Swaminarayan Sanstha
(BAPS), was lauded by speakers who said they had benefited from the advice and
wisdom of both the leaders.
Books written by APJ Abdul Kalam :
Wings of Fire, 2020 A Vision for the New Millenium, Envisioning an Empowered
Nation, Ignited Minds, My Journey, Developments in Fluid Mechanics and Space
Technology, The Luminous Sparks, The Life Tree, Mission India, Children Ask Kalam,
Guiding Souls and Inspiring Thoughts.
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Current Affair Feb 2-2016

INDIAN AFFAIRS
Govt praises MGNREGA as scheme completes 10 years
The Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) has completed
its ten years of achievement. The total government part to the herald of Mahatma
Gandhi NREGA is about three-quarters of US$15 billion.
It was launched in June 2006 by Prime Minister Manmohan Singh with aims to
guarantee the right to work as per the Article 41 of the Indian Constitution.
CBDT ink two bilateral APAs with United Kingdom
The Central Board of Direct Taxes (CBDT) had signed two bilateral Advance Pricing
Agreements (APAs) with United Kingdom.
The Agreements were signed with two Indian group entities of a UK based
Multi-National Company (MNC) under the Mutual Agreement Procedure (MAP)
process enclosed in the India-UK DTAA.
Now CBDT has signed 41 APAs out of which 38 are unilateral and 3 are bilateral.
These transactions face extended and profound transfer pricing disputes.
Companies Law Committee submitted report recommending changes in the Companies
Act, 2013
Companies Law Committee had submitted its report to the Government for examining
and making recommendations on changing of the Companies Act, 2013.
Changes are as follow:
Administrative compensation to be approved by shareholders
Re-opening of accounts is limited to 8 years.
Limit on sweat equity is raised to 50% of paid up capital from 25% for
start-ups.
Frauds less than Rs. 10 Lakh are considered as compoundable offences.
Keys
Secretary of Ministry of Corporate Affairs Tapan Ray
Indias fastest-growing state: Meghalaya
Meghalaya
Meghalaya becomes the Indias fastest-growing state with a growth rate of 9.7% in
2013-14.
The growth rate of Meghalaya is higher than the fastest-growing state Madhya
Pradesh at 9.5%.
The report was released by IndiaSpend.
But the growth of the state is not creating sufficient jobs and livelihood
opportunities.
The highest growth rates in gross state domestic product (GSDP) are traced
among Meghalaya, Tripura and Arunachal Pradesh in 2013-14.
The unemployment rate of Meghalaya is second lowest in India with 0.4% in
rural areas and 2.8% in urban areas in 2011-12.
INTERNATIONAL AFFAIRS
Bengaluru tops in Asia Pacific on commercial realty growth
According to property consultant JLL report named City Momentum Index 2016: The
Rise of the Innovation-Oriented City, Bengaluru is ranked first in the Asia
Pacific region in terms of citys socio-economic growth and momentum in the
commercial real estate space.
London, Silicon Valley Dublin, Bengaluru and Hyderabad is at 17th position in
the global ranking.
WHO declares Zika virus outbreak as International Emergency
The World Health Organization (WHO) declared the Zika virus outbreak as an
International Emergency.
Zika virus is transmitted by mosquitoes and it is supposed that it link to
birth defects therefore the WHO has announced it as an international public
health emergency.
The announcement was made after WHOs emergency meeting of independent experts
headed by WHO Director-General Margaret Chan.
Effects of virus are detected in Latin, America, Brazil, Costa Rica and Jamaica.
Key
Headquarter of WHO-Geneva Switzerland
Bangladesh Cabinet approved draft of Citizenship Law, 2016 expanding scope for
dual citizenship
Bangladesh government has given its clearance for a new law that will expand the
scope for dual citizenship for Bangladeshis.The new law includes a provision for
five years of imprisonment should one give false information to acquire citizenship.
Cabinet meeting chaired by Prime Minister Sheikh Hasina cleared the draft for
the Bangladesh Citizenship Act 2016.
The new law includes the following
Provision for five years of imprisonment should one give false information to
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acquire citizenship.The law only allowed dual citizenship for Bangladeshis in

the US and the UK
The new law says Bangladeshis cannot go for dual citizenship with SAARC
countries and Myanmar.
The draft says that any Bangladeshi who pledges allegiance to a foreign state
directly or indirectly will lose their citizenship, said the secretary.
The new law is being formulated by merging The Citizenship Act 1959 and The
Bangladesh Citizenship Temporary Provisions Order 1972
Foreign nationals, married to Bangladeshis, will have to reside in Bangladesh for
at least five years to qualify for citizenship.
BANKING & FINANCE
SBI launches new home loan scheme for working executives
State Bank of India (SBI) has launched a new home loan scheme for young working
executives.
The Scheme enables the working professionals to get higher amount.
SBI Flexi Pay Home Loan helps the executives to purchase better and large
living spaces for themselves and their families.
As per the scheme the bank offered the option of paying only interest during
the moratorium (pre-EMI) period of 3 to 5 years to lower the bang of loans.
BUSINESS
Vietnam lifts ban on import of groundnut from India
Vietnam had lifted the ban on import of groundnut from Indian after nine months.
The ban on import of Indian groundnuts from April 6, 2015 was due to thwarting
quarantine pests Caryedon serratus and Trogodrma granarium
The ban was lifted after the visit of a delegation from Vietnam to India in
December 2015.
After seeing the fumigation facilities, export procedures and export
certification system for export of groundnuts from India the delegation
decided to lift the ban.
Keys
Capital city of Vietnam -Hanoi.
Currency of Vietnam Dong
Japan to set up plant for US-2 amphibious aircraft in India
Japan
Japans ShinMaywa Industries will set up a plant for the manufacturer of US-2
amphibious aircraft in India. The Make in India project has offered to set up a
plant in India to furnish the international demands.
This plant in India will provide aircraft to the global market on demand.
As per government to government deal Indian Navy is trying to purchase 6 such
aircrafts between 2017 and 2022.
US-2 amphibious aircraft is very useful in civilian and military applications
and can land on choppy waters.
APPOINTMENTS & RESIGNS
Archana Ramasundram becomes 1st woman DG of Sashastra Seema Bal
Archana Ramasundram is appointed as the Director General (DG) of Sashastra Seema
Bal (SSB) and now she became the first woman DG of Sashastra Seema Bal. The
decision was issued by Department of Personnel and Training (DoPT).
Other Appointments
Name
Department
K Durga Prasad Director Generals of CRPF
K K Sharma Director Generals of BSF
M K Singla Special Secretary, Internal Security Home Ministry
Metro Cash and Carry appoints former Walmart executive Arvind Mediratta as India MD
Arvind Mediratta appointed as the Managing Director of German wholesale major
Metro Cash & Carry India. He takes over from Rajeev Bakshi, who had joined as
Managing Director in June 2010.
About Arvind Mediratta :
Arvind Mediratta comes to Metro from Walmart USA, corporate Vice
President,before that, he was the Chief Operating Officer of Walmart India.
Mediratta had joined Walmart in April 2007 and played a key role in setting up
Walmarts Indian cash-&-carry business and organisation from the ground up.
Prior to Walmart, Mediratta also worked with companies such as Yum! Foods,
Whirlpool India, Marico and Procter & Gamble.
Indian appointed to key World Bank position
Saroj Kumar Jha has been appointed to a key position in the World Bank with
President Jim Young Kim.
An Indian Saroj Kumar Jha has been appointed to a key position in the World Bank
with President Jim Young Kim. He is an alumnus of Indian Institute of Technology
Kanpur.
Jha has been tasked to provide strategic leadership to address the challenge
of fragility, conflict and violence, working across the Bank Group and in
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close collaboration with partners.

About Saroj Kumar Jha
Jha joined the World Bank in 2005 as a Senior Infrastructure Specialist in the
Sustainable Development Network and the United Nations Development Program (
UNDP) as a senior executive.
Earlier, Jha worked as the World Banks Global Manager for Disaster Risk
Management Practice.
He also served as head of the Global Facility for Disaster Reduction and
Recovery.
Key points :
World Bank president : Jim Yong Kim
World bank HQ: Washington, D.C.,United States
Virender Sehwag appointed Kings XI Punjabs mentor
Former India opener Virender Sehwag was appointed mentor of the Kings XI Punjab
team for the upcoming Indian Premier League (IPL).
Sehwag will work closely with head coach Sanjay Bangar and would be
responsible for guiding and motivating the squad.
ACQUISITIONS & MERGERS
Craftsvilla acquires Sendd for $4.5 Million
CraftsVilla an online marketplace for Indian products has acquired the on-demand
shipping service provider Sendd for $4.5 million.Craftsvilla mentions that it will
use the acquisition to strengthen its logistics capabilities.
About Craftsvilla
Craftsvilla was founded by Manoj Gupta and Monica Gupta in 2011. It takes a
20% commission on the products sold.
However, it is not clear if the company does this on per item or per order,
which might include many items. The company claims to have 25,000 sellers on
its platform, along with 3.5 million sold products.
SCIENCE & TECHNOLOGY
Japanese firm to open worlds first robot-run farm
Worlds first fully automated farm with robots handling almost every step of the
process from watering seedlings to harvesting crops will be open in Japan
announced by Kyoto-based Spread
The indoor grow house will start operating by the middle of 2017 and produce
30,000 heads of lettuce a day.
It hopes to boost that figure to half a million lettuce heads daily within
five years.
The farm, measuring about 4,400 square metres (47,300 square feet), will have
floor-to-ceiling shelves where the produce is grown.
Key points :
Japan Capital : Tokyo
Japan Currency : Yen
Japan PM : Shinzo Abe
SPORTS
Aditya Mehta won the National Snooker Championship 2016
The National Snooker Championship Aditya Mehta won 2016 Championship by defeating
Manan Chandra by 6-3 in the mens final round of the National Snooker Championship
2016. The championship was held in Indore in Madhya Pradesh.
Vidya Pillai won the womens final round at National snooker championship 2016
by defeating Amee Kamani by 4-2.
Keerath Bhandaal won the womens billiards final round at National billiards
Final by defeating Aranxta Sanchez by 3-1.
IMPORTANT DAYS
World Wetland Day
World Wetland Day celebrated every year on 2, February.
Purpose: Wetland Day marks the date of the signing of the Convention on Wetlands,
called the Ramsar Convention, on 2 February 1971, in the Iranian city of Ramsar on
the shores of the Caspian Sea.
WWD was celebrated for the first time in 1997
Each year, government agencies, non-governmental organizations, and groups of
citizens at all levels of the community have acted to raise public awareness
of wetland values and benefits in general and the Ramsar Convention in
particular.
Theme: Wetlands for our Future Sustainable Livelihoods.
Current Affairs Today 3 February 2016
INDIAN AFFAIRS
Govt. sets up Tax Policy Council headed by Finance Minister
The Union Government set up a Tax Policy Research Unit (TPRU) and Tax Policy
Council by replacing Tax Research Unit and Tax Policy and Legislation. The TPRU is
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multi penal body its aim is to carry out the studies on various topics of fiscal
and tax policies referred to it by CBDT and CBEC.
NPS subscribers elevated to 1.15 crore
As of 23rd January, 2016 National Pension System (NPS) had 11,459,555 subscribers
with a total corpus of Rs. 90, 327 crore. The total Assets under Management are
worth Rs. 109,140 crore while Assets under Management per subscriber is Rs. 95,000
on an average.
Manchester of India gave India its first underwater restaurant
Manchester of India gave India its first underwater restaurantReal Poseidon,
Indias first underwater restaurant initiated in Ahmedabad which has been created
20 feet below ground level. It has been owned by Ahmedabad-based businessman,
Bharat Bhatt.
It has spread across 3000 square ft, its plushed with 1,50,000 litres of water.
It has a 1,200 square ft dining hall for 32 seaters.
Around 4000 species of fish and marine species are sourced from the local markets
in Ahmedabad, Rajkot and Vadodara.
Union Government issues guidelines in wake of Zika Virus outbreak
The Union Health Ministry issued detailed guidelines for fighting against Zika
virus. The World Health Organisation (WHO) had declared an emergency over the
spread of the virus
Pregnant women should cancel their travel to the affected areas.
Travellers to the affected countries/areas should strictly follow individual
protective measures.
Persons with co-morbid conditions like diabetes, hypertension should take
advice from the nearest health facility before travel to an affected country.
Rapid Response Teams (RRT) including a microbiologist, an epidemiologist and a
medical specialist has been set up.
NIIF signed MoU with Rusnano OJSC to set-up Russia-India High Technology Private
Equity Fund
National Investment and Infrastructure fund (NIIF) the Indias maiden sovereign
wealth signed MoU with Russias Rusnano OJSC to set up high technology private
Equity fund in India.
The aim of NIIF is to take advantage of economic impact generally through
infrastructure development in commercially doable infrastructure projects and
other nationally important projects in India.
Government holds 49% share in the fund and the rest would be held privately.
Key
Secretary of Economic affairs Shaktikanta Das
INTERNATIONAL AFFAIRS
Nielsens consumer confidence index topped by India
As per the performance management company Nielsens global confidence index, India
sat down again as topper with 131 points in respect to job prospects, personal
finances and immediate spending intentions in the fourth quarter of 2015.
In this recently released consumer confidence index, India is followed by
Philippines (117), Indonesia (115), Thailand (114) and Vietnam (112).
Figure of India is 54% lower than the third quarter of 2015 and higher by 6%
points in the first quarter.
Vietnam gets worlds longest cable car system
Vietnam initiated the worlds longest three-rope cable car system with a total
length of 6,292.5 metres in the Northern Province of Lao Cai.
It will connect Muong Hoa Valley and Fansipan Mountain in Lao Cai.
It has a capacity of 2,000 passengers per hour with each cabin accommodating
35 people.
New World Records:
The system has been recognized by the Guinness World Records as the worlds
longest three-rope cable car route and also the worlds biggest height gap
between its departure and arrival stations of 1,410 metres.
Infosys to build the Worlds tallest Clock Tower
Tech giant Infosys is all set to build the worlds tallest free-standing clock
tower at its 345-acre global education centre in Mysuru.
The proposed 135 meter-tall tower will stand approximately 19 floors and will
also house a boardroom on the 7th level.
It will dwarf Londons famous Big Ben (96 meters), which is the currently the
tallest clock tower in the world, by at least a third of its height.
The tower is designed by one of Indias most famous architects Hafeez Contractor,
who also designed Infosys Mysuru campus with structural engineering consultancy
provided by New York-based firm LERA and built by Bengaluru-based KEF Infra.
BANKING & FINANCE
RBI rates unchanged in 6th bi-monthly monetary policy review
In the 6th bi-monthly monetary policy review, Reserve Bank of India (RBI) kept the
repo and reverse repo rate unchanged at 6.75% and 5.75% respectively.
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Cash reserve ratio (CRR) of scheduled banks unchanged at 4.0% of net demand
and time liability (NDTL).
In the bi-monthly monetary policy review, RBI also emphasized the need for ease of
doing business, in line with the Governments Start-up India initiative and plans
to contribute to an ecosystem that is conducive for growth of start-ups.
Other Rates:
Bank Rate 7.75% (Unchanged)
MSF (Marginal Standing Facility) 7.75% (Unchanged)
SLR (Statutory Liquidity Ratio) 21.5% (Unchanged)
HDFC Bank to sell loans to non-customers through ATMs
HDFC Bank is selling Loans to non customers through ATMs.
HDFC bank is using its ATM network to clutch new customers by extending its branch
services through ATMs.
Nearly 15% of new personal loans are approved and distributed by the banks
without human involvement these are done using online computer system.
The payment through ATMs is a new challenge for the bank.
HDFC is providing every kind of loans excluding home loans only.
AWARDS & RECOGNITIONS
Alphabet Inc overtakes Apple as worlds most valuable company
Alphabet Inc. becomes the worlds most valuable company after overtaking the
Apple. Alphabets market capitalization becomes $531 billion after its share has
been rose by 1.7%. Five of the most valuable companies in the world are
Alphabet, Apple, Microsoft Corp., Facebook Inc. and Amazon.com Inc.
Titli wins Best First Foreign Film Award in French Syndicate of Cinema Critics
Famous Indian filmmaker Kanu Behl has won the Best First Foreign Film Award
conferred by the French Syndicate of Cinema Critics 2016 (FSCC) for his
directorial film Titli.
Amitabh Bachchan gets lifetime achievement award
Amitabh Bachchan gets lifetime achievement awardLegendary Amitabh Bachchan (73)
was presented with the lifetime achievement award at NDTV Indian of the Year Awards.
KU wins first chancellors award
States oldest University, Kerala University has been conferred with first-ever
chancellors award with a prize money of Rs 5 crore.
The prize include includes a citation and a gold plated rolling trophy.
The prize money is meant for capital expenditure for any major project of the
university.
The award was instituted to nurture the spirit of healthy competition among the
universities, resulting in better quality in higher education, so as to make the
universities vibrant centres of learning. The universities were judged on the
following parameters on a total scale of 500 marks:
Academics (200 marks)
Teaching & Pedagogy methods (75 marks)
Students Profiles & Achievements (75 marks)
Academic Governance (75 marks)
Other achievements (75 marks)
APPOINTMENTS
S N Prasad assumes charge as CIL director
S N Prasad has been designated as the Director (Marketing), Coal India Ltd. He
will succeed B K Saxena.
Prior to this elevation Prasad was General Manager (Sales & Marketing) in
South Eastern Coalfields Ltd, the Bilaspur-based subsidiary of CIL.
ACQUISITIONS & MERGERS
Cabinet approves JV with states for rail projects
To ensure greater participation of states, Union Cabinet has given its stamp of
approval by allowing the Railways to form Joint Venture companies with state
governments to mobilize resources for speedy implementation of rail projects.
Initial Paid capital of initial of each Joint Venture (JV) Rs 100 crore
Railways initial paid-up capital Rs 50 crore
The JV can also form project-specific SPVs (special purpose vehicle) with equity
holding by other shareholders like Banks, ports, public sector undertakings,
mining companies etc.
SCIENCE & TECHNOLOGY
India, NASA to study Ladakh region under Spaceward Bound programme
India and the National Aeronautics and Space Administration (NASA) joined hands to
explore the environment of Ladakh under NASAs Spaceward Bound programme.
Under the partnership, a team of scientists from NASA, the Mars society
Australia and the Birbal Sahni Institute of Palaeobotany, Lucknow will
undertake an expedition to Ladakh in August 2016.
During their 10-day expedition, the scientists will study the similarities of
certain parts of the regions topography and microbial life to the surroundings of
Mars.
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SPORTS
Rajkot franchise IPL team name as Gujarat Lions
Rajkot franchise IPL team name as Gujarat LionsRajkot franchise has been named
as the Gujarat Lions after an online survey. The Gujarat Lions will be led by
Suresh Raina.
Ravindra Jadeja, James Faulkner, Brendon McCullum and Dwayne Bravo were
selected by Rajkot for its first IPL plan which will be held in November.
Gujarat Lions in company with Rising Pune Supergiants will play the next two
editions of the Indian
Gujarat Lions and other IPL teams will now buy more players from a big auction
list in February.
Kerala wins 61st National School Athletics championship
Kerala won the 61st National School Athletics championship. The championship was
started on 29 January 2016 and finished on February 2.
The national School Athletics championship was held at Olympian Rahman Stadium
in Kozhikode, Kerala.
Kerala becomes the champions in the event of the 19th consecutive Championship.
Kerala host of the championship and got 306 points winning 39 gold, 29 silver
and 17 bronze medals.
Second position was gain by Tamil Nadu 116 points winning 11 gold, 8 silver
and 13 bronze medals followed by Maharashtra with 101.
OBITUARY
Former RBI Deputy Governor S. S. Tarapore passed away
Former RBI Deputy Governor S. S. Tarapore passed awayKnown for his strong views on
inflation and capital account convertibility, S.S. Tarapore, an economist and
former Central Bank Deputy Governor passed away in Mumbai at the age of 80. During
his session, Indian Govt has introduced economic reforms which led to structural
changes.
About S. S. Tarapore:
BA (economics) from Sheffield University and MSc (economics) from London
University, S.S. Tarapore joined the Reserve Bank of India in 1961 as Research
Officer.
Nickname Inflation Hawk
From 1992-1996, he served RBI as its deputy Governor when C. Rangarajan was
the governor.
He retired from RBI in 1996 as Deputy Governor.
After retiring, he chaired two committees on full capital account
convertibility and one on how to streamline the RBI.
He was staunch critic of the Financial Sector Legislative Reforms Commission
(FSLRC).
Former Lok Sabha speaker Balram Jakhar passes away
Former Lok Sabha speaker Balram Jakhar passes awayFormer Lok Sabha speaker and
Congress veteran Balram Jakhar due to brain stroke at the age of 92.
Balram Jakhar served as the speaker of Lok Sabha from 1980 to 1989.
From June 30, 2004 to May 30, 2009, he served as the governor of Madhya Pradesh.
He also served as the union agriculture minister during former prime minister
P.V Narasimha Rao-led Congress government.
Veteran Urdu writer Intizar Husain passes away
Veteran Urdu writer Intizar Husain passes awayFamous Urdu fiction writer,
novelist, columnist and poet Intizar Husain passed away in Lahore, Pakistan.
He was born on 7 December 1923 at Dibai in Bulandshahr district of Uttar Pradesh
He was the first Pakistani and the first Urdu writer ever to be nominated for
the Man Booker International Prize for fiction in 2013.
He presents the Officer of the Order of Arts and Letters by French
Government in 2014.
As a journalist he worked in various newspapers and in 1988 he was retired from
Daily Mashriq.
Current Affairs Today February 4 2016
INDIAN AFFAIRS
Mumbai has illustrious potential for Modern Retail
In accordance with the Knight Frank & Retailers Association of India Think India.
Think Retail. 2016 report, Mumbai Metropolitan Metro has the highest potential
for modern retail in the country at Rs 1.05 lakh crore.
Mumbai Metropolitan Metro is followed by Delhi National Capital Region, which
has total potential of Rs 77,900 crore and Bengaluru is third in the list,
with potential of Rs 48,600 crore.
Haryana, Ontario ink pact for cooperation
Haryana and Ontario in Canada had signed a Pact. It was aimed to enhance
commercial and cultural ties. This pack will help to facilitate knowledge transfer
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in areas like museum development and cultural preservation

The pact was inked by the Managing Director of Haryana State Industrial and
Infrastructure Development Corporation Ltd, Sudhir Rajpal, and Deputy Minister
of Ontario Ministry of Citizenship, Immigration and International Trade, Helen
Angus, in the presence of Haryana Chief Minister Manohar Lal Khattar, Premier
of Ontario, Kathleen Wynne, and Premier of Prince Edward Island, Wade
MacLauchlan.
Maharashtra announces Babasaheb Ambedkar Special Group Incentives Scheme
Maharashtra State Cabinet had announced the Babasaheb Ambedkar Special group
Incentive Scheme for the economically backward Dalit entrepreneurs.
The scheme aimed to providing special facilities to Dalit entrepreneurs
besides the present group Incentive Scheme 2013.
The scheme provides 20 per cent plots are reserved for the Dalits in small and
medium scale industries with Maharashtra Industrial Development Corporation
(MIDC).
Under this scheme only one member of the family will be eligible for loan and
start up Unit till get an additional 10 pc incentive.
Counter terrorism conference 2016
President Pranab Mukherjee inaugurated the Counter-Terrorism Conference 2016 at
Jaipur. Counter terrorism is considered to be about tactics, weapons, force levels
and intelligence gathering.
The important features of counter-terrorism strategy are:
Capacity building to prevent attacks through intelligence collection and
collation
Development of technological capabilities
Raising of Special Forces and enactment of special laws
The strategy of Counter-terrorism is to prevent attacks through intelligence
collection and collation, development of technological capabilities, rising of
Special Forces and enactment of special laws.
Modi attended Global Ayurveda Fest in Kozhikode
The 3rd edition of Global Ayurveda Festival at Kozhikode, Kerala has been
inaugurated by PM Narendra Modi. Ayurveda Festival Kerala is an international
Ayurvedic biennial event started to serve as a force to galvanize Ayurvedic sector
to aspire, plan and achieve greater heights.
This international seminar gave ideal platform to update, learn and train by
interacting with the masters of Ayurveda & Allied Sciences of national and
international repute.
Kerala Govt also tied up with Asian and European countries to promote Indian
systems of medicine globally and planned to bring Ayurveda into the National
Health Mission.
Keys Kerala:
Capital Thiruvananthapuram
CM Oomen Chandy
Governor P. Sathasivam
INTERNATIONAL AFFAIRS
TCS emerged as the worlds most powerful IT Services brand
The worlds leading brand valuation firm Brand Finance has rated Indias tech
giant Tata Consultancy Services (TCS) as the worlds most powerful IT services
brand its Brand Strength Index. The valuation firm has presented TCS with AA+
rating with a total score of 78.3.
TCS also emerged as the fastest growing brand within its industry with a
growth rate of 286% (2010-2016).
Among other sectors, Disney was rated as the most powerful Media brand and
Apple as the most valuable brand for 2016.
12 nations sign historic Trans-Pacific Partnership (TPP) Agreement
The worlds biggest multinational trade deal was signed by 12 member nations of
the Trans-Pacific Partnership (TTP) in Auckland, New Zealand. The Agreement aims
to create a single market system as to encourage trade and investment similar to
that of the European Union.
India, Afghanistan ink pact for visa-free travel by envoys
India and Afghanistan inked a pact for visa-free travel for diplomatic passport
holders of the two countries. They also discussed security situation in the
bilateral and regional context.
The pact was signed after the meeting between Prime Minister Narendra Modi and
the Chief Executive Officer of Afghanistan Abdullah Abdullah.
External affairs minister Sushma Swaraj and the officer Abdullah discussed the
security situation, Afghan peace process, internal political situation in the
strife-ravaged country as also the regional security situation.
India signs an Agreement to Become an Associate Member State of EMBO
To strengthen the scientific interaction and collaborative research between India
and Europe, India has inked a cooperation agreement to acquire the status of the
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Associate Member State European Molecular Biology Organisation (EMBO).

EMBO is an organization of more than 1700 leading researchers that promotes
excellence in the life sciences.
The major goals of the organization are to support talented researchers at all
stages of their careers, stimulate the exchange of scientific information.
BUSINESS
ZTE Soft inks pact with AP
Chinese technology company ZTE has inked a pact with the Andhra Pradesh government
to work on smart city projects in the state.
Under the letter of intent inked by ZTE, it proposes to work with AP on not
only smart cities, E-Pragathi project, Incubation Centre, smart technology
projects among others which the State has initiated.
As per the recent announcement, Visakhapatnam and Kakinada have been chosen to be
part of the smart city projects in the first phase.
AWARDS & RECOGNITIONS
Golden Conch Award presented to Manipuri documentary Phum-Shang
Golden Conch Award for the best documentary has been conferred upon Manipuri
documentary film Phum Shang at 14th Mumbai International Film Festival (MIFF).
Gold Conch Award for the best feature length documentary film shared by Swiss
film My Name Is Salt and an Indian film Placebo.
Mark Zuckerberg emerged as worlds fourth richest person
Mark Zuckerberg emerged as world's fourth richest personAs per the Bloomberg
Billionaires Index, a daily ranking of the worlds 400 richest people, Facebook
CEO Mark Zuckerberg outpassed Amazon CEO Jeff Bezos to become the worlds
fourth-richest person.
Zuckerberg is the only billionaire among the worlds five-richest people whose
worth has increased this year.
Microsoft billionaire Bill Gates still leads the global rich scale with an
estimated personal worth of $78.7 billion, followed by Spains Amancio Ortega
($69.3 billion) and US investment guru Warren Buffett ($59.6 billion).
Sarangi maestro Pandit Ram Narayan selected for Bhimsen Joshi Award
Sarangi maestro Pandit Ram Narayan had selected for the prestigious Bharat Ratna
Pandit Bhimsen Joshi Classical Music Award 2015-2016.
The announcement for the award was made by Maharashtras Cultural Affairs
Minister Vinod Tawde.
It is an annual Classical Music Award, instituted by the Maharashtra Government.
The award includes Rs 5 lakh in cash, a citation and a memento.
Pandit Ram Narayan was also awarded the Padma Vibhushan, in 2005 in Hindustani
classical music.
APPOINTMENTS
Major General Jai Shanker Menon appointed as UNDOF head
Major General Jai Shanker Menon of India is appointed as the Head United Nations
Disengagement Observer Force (UNDOF) by UN Secretary-General Ban Ki-moon.
Aruna Sethi accredited as head of ICoAS
Government has designated Aruna Sethi as the head of Indian Cost Accounts Service
(ICoAS), becoming the first lady ICoAS officer to achieve this mark.
Prior to join ICoAS, she was working as Principal Adviser (Cost).
She has held important portfolios at various ministries including Consumer
Affairs, Corporate Affairs, Finance, Commerce and Industry and Defence.
About Indian Cost Accounts Service (ICoAS): It is one of the 6 organised
accounting services of the Government of India. Office of Chief Adviser Cost is
one of the divisions functioning in the Department of Expenditure.
This Office is responsible for advising the Ministries and Government
Undertakings on cost accounts matters and to undertake cost investigation work
on their behalf.
Google search chief Singhal to quit, to be replaced by AI head
Google search chief Singhal to quit, to be replaced by AI headAmit Singhal, the
longtime head of Googles internet search business will be bowed out from services
by the end of this month.
He will be replaced by John Giannandrea, who is currently working in
artificial intelligence (AI) at Alphabet.
Born in Jhansi, Uttar Pradesh, Singhal (47) joined Google in 2000. He has been
involved with many technologies that have made Alphabet, the parent of Google.
Satender Kumar designated as the next HC to Saint Lucia
Satender Kumar has been concurrently accredited as the next High Commissioner of
India to Saint Lucia with residence in Paramaribo.
Since August, 2015, presently he is serving as Ambassador of India to the
Republic of Suriname.
Keys Saint Lucia:
Capital Castries
Currency East Caribbean dollar
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PM Kenny Anthony
DJ Pandian appointed AIIB Vice-President
D J Pandian has been appointed as the vice-president and chief investment officer
of the newly-created Asian Infrastructure Investment Bank (AIIB). He is the Former
chief secretary of Gujarat.
AIIB the Beijing-based USD 100 billion multi-lateral lender was set up to
boost lending for infrastructure projects.
AIIB will also invest in sectors such as energy, transportation, urban
construction and logistics as well as education and healthcare.
China, India and Russia with 34 per cent, 8.52 per cent, 6.66 per cent stake,
respectively are the three largest shareholders of AIIB.
ACQUISITIONS & MERGERS
Microsoft acquires SwiftKey
Microsoft had acquired software keyboard and SDK application maker SwiftKey.
SwiftKey is a free keyword application and it powers more than 300 million Android
and iOS devices.
Microsoft plan to join together SwiftKey technology with their Word Flow
technology for Windows.
Swiftkey was founded by SwiftKey Jon Reynolds and Ben Medlock.
The acquisition is of 250 million USD.
Swiftkey helps to enhance the interaction between technology and people while
Microsoft focus on empowering people and organizations
Keys
Executive Vice President, Technology and Research of Microsofts Harry Shum
Reliance Entertainment, Neeraj Pandey joins hands for film production
Anil Ambani-owned Reliance Entertainment made a joint venture with film-maker
producer duo Neeraj Pandey and Shital Bhatias Friday Filworks for production of
movies.
Akshay Kumar starrer Rustom will be the first movie under the banner, Plan C
Studios.
Plan C Studios will be an equal partnership joint venture between the two.
Reliance Entertainment has produced, distributed and released more than 170 films
in multiple Indian languages, including Hindi, Tamil, Telugu, Malayalam, Kannada
and Bengali.
Internationally, it has partnered with iconic film producer and director
Steven Spielberg.
SCIENCE & TECHNOLOGY
CSIR launches Indias first ayurvedic anti-diabetic drug named BGR-34
The Council for Scientific and Industrial Research (CSIR) launched Indias first
ayurvedic anti-diabetic drug named BGR-34 for type two Diabetes mellitus.
About BGR-34
BGR-34 is developed jointly by National Botanical Research Institute (NBRI)
and Central Institute for Medicinal and Aromatic Plants (CIMAP) Luck now-based
research units of
The drug will help maintain normal blood glucose levels, reduce chances of
complications due to persistent high blood glucose.
SPORTS
Srikanth remains World No. 9 in latest BWF ranking
As per the latest BWF rankings, Syed Modi Grand Prix Gold mens title winner K
Srikanth sat again on World No. 9 while P V Sindhu dropped a place to be No. 12.
In womens singles ranking list Saina Nehwal remained consistent at World No.
2.
In mens double pair of Pranaav Jerry Chopra and Akshay Dewalkar improved two
places to be at World No. 34, while Manu Attri and B Sumeeth Reddy ranked at
World No. 20.
P Kashyap slipped to World No. 15 while H S Prannoy ranked at 27th spot.
The duo of Jwala Gutta and Ashwini Ponnappa ranked at 13th.
IMPORTANT DAYS
World Cancer Day February 4
To raise awareness of cancer and to encourage its prevention, detection and
treatment, February 4 is marked as the World Cancer Day. The primary goal of the
World Cancer Day is to significantly reduce illness and death caused by cancer by
2020.
This event is organized on annual basis under the supervision of Union for
International Cancer Control (UICC) and other leading health organizations
involved for cancer fighting.
World Cancer Day Theme 2016-18: We can. I can.
Current Affairs Today February 5 2016
INDIAN AFFAIRS
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India ratifies CSC for Nuclear Damage

The Instrument of Ratification of the Convention on Supplementary Compensation for
Nuclear Damage, 1997 has been submitted by India to the International Atomic
Energy Agency (IAEA), marking an important measure in addressing matters related
to civil nuclear liabilities.
The instrument was handed over by Indian Ambassador to Austria and Permanent
Representative of India to IAEA Rajiva Misra to Acting Director General of
IAEA, Juan Carlos Lentijo.
This ratification will come into force after 90 days, i.e. May 4, 2016.
The Instrument of Ratification will not only clear the way for Indias nuclear
commerce with international economies but also make a contribution in
strengthening the global nuclear liability regime.
Invest Karnataka 2016
Invest Karnataka 2016, the first Global Investors Meet (GIM) was held from 3rd to
5th February 2016 with a theme where the future is made at Bengaluru.
During this two day Invest Karnataka event across energy, pharma, information
technology & biotechnology, agriculture, infrastructure and tourism, Karnataka
had signed 147 projects with a commitment to invest Rs 1.33 lakh crore.
India to participate in Cobra Gold 2016 military exercise
India confirmed its participation in the annual amphibious military exercise
dubbed Cobra Gold in 2016.
Cobra Gold is an Asia-Pacific multilateral amphibious military exercise held
every year in Thailand.
The decision has been taken on the sidelines of the meeting that was held in Delhi
to deepen maritime and defence cooperation which covers a range of issues,
including ocean safety, disaster management and anti-terror drills.
India Investment Summit 2016
In a bid to succeed Make in India campaign, Ministry of Finance in partnership
with SBI Caps is organized an India Investment Summit in New Delhi.
Focused Areas of Summit Road transport, highways, ports, urban
infrastructure, railways, power and renewable energy and State Level projects
During the event FinMin launched the Logo of National Investment and
Infrastructure Fund (NIIF) which is established as a Category II Alternate
Investment Fund (AIF) under the Securities and Exchange Board of India (SEBI)
Regulations.
NIIF is to be financed with Governments own contribution along with equity
participation from both foreign and domestic strategic anchor partners with
Governments share being 49%.
Maharashtra rolls out Deradicalisation Programme in wake of IS threat
Maharashtra had rolled out a deradicalisation programme for the minority community
because of home-grown extremism and the global Islamic State (IS) threat.
The program aims to bringing youth of the minority community into the
mainstream and making coordinated efforts in education, sports, urban
planning, law and order, skill development, women and child, social justice,
and health.
The program includes:
Opening of vyayam shalas in minority areas
making National Cadet Corps (NCC) and
Bharat Scouts and Guides (BS&G) compulsory in minority schools
Odisha permitted tourists into certain tribal areas after three years ban
After 3 years of ban, Odisha government has lifted the restrictions on visit of
foreign tourists to certain tribal areas in the State, which was imposed due to
the abduction of two Italian tourists in Kandhamal district by Maoists.
Highlights of the revised guidelines:
Foreign tourists have been asked to pay respect to the culture and tradition
of tribals.
The tourists will have to submit their proposed itinerary to the police
superintendents of the concerned districts.
The foreign tourists have been asked to take photographs only with the consent
of the tribals.
INTERNATIONAL AFFAIRS
India pips US to become worlds second largest smartphone market
India had beaten the US to become the worlds second largest smartphone market in
the world. Now India had crossed 220 million in active unique smartphone users in
2015.
Germany to host Laureus World Sports Awards in 2016
The 17th edition of Laureus World Sports Awards 2016 will be hosted by Berlin,
Germany on April 18.
The Awards will consist of 7 categories which will recognize the achievements
of the outstanding athletes from 2015, crowning the Sportsman, Sportswoman,
Action, Disability athlete and Team of the Year.
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Keys Germany:
Capital Berlin
Currency Euro
President Joachim Gauck
EU approved 3.3 bn euros to Turkey to cope with Syrian refugee crisis
The European Union has consented 3.3 billion Euros of succor for Turkey to cope
with the issue of Syrian migrants.
Under the deal, the EUs executive is contributing one billion euros to the
fund, while the 28 member states will contribute the rest.
The funding is aimed at curbing flow of asylum seekers into the Europe by
tightening its borders with Turkey.
WHO accords PQP certification to Indian vaccine maker GreenSignal Bio Pharma
World Health Organization WHO had accorded PQP (Pre-qualification of Medicines
Programme) certification to the GreenSignal Bio Pharma Pvt. Ltd.
BCG (Bacillus CalmetteGurin) is a vaccine-making firm.
GreenSignal becomes the second Indian company to get PQP certification from WHO
This certification helps GreenSignal to participate in the global immunization
programme that is facilitated through international procurement agencies such
as UNICEF and others.
GreenSignal is supplying BCG vaccine to the Government of India and Indonesia.
BANKING & FINANACE
Government To Infuse About Rs. 5000 Cr In PSU Banks This Quarter
Government will infuse about Rs 5,000 crore capitals in the Public Sector Banks
(PSB) in the current fiscal to strengthen balance sheet.
FDI twofolds to 114% in December 2015
Foreign direct investment (FDI) in the Indian economy twice the usual size to $4.5
billion in December 2015. There was 114% growth recorded for December 2015 as
compared to December 2014, when India has received $2.16 billion.
Major sectors attracted foreign inflows computer software and hardware,
trading, services, automobile and telecommunications.
India receives maximum FDI from Singapore, Mauritius, Netherlands and Japan.
The government has relaxed FDI norms in 15 sectors, including Defence, single
brand retail, construction development, civil aviation and LLPs, to boost FDI in
the country.
BSE, IFC jointly develop corporate governance scorecard
BSE and the International Finance Corporation (IFC) have jointly developed a
corporate governance scorecard. The scorecard help the companies assess their
corporate governance performances against national or international-benchmarked
practices.
It will help companies in identify areas of further improvement and track
progress over time.
It can be used to make board processes more efficient, improve strategy, aid
decision-making, and manage risks.
It will help Companies for better recognizing the way in which governance
affects their operations.
The scorecard can be used by stakeholders, including regulators, promoters,
and investors.
BUSINESS
SBI, Thomas Cook team up for inflation-proof holidays
State Bank of India (SBI) had tied up with Thomas Cook for inflation proof
holiday.
Inflation proof holiday is offer to the online customers which helps them to
save on frequent deposits.
It is optional for the customers either to travel or exchange their savings on
the maturity of the frequent deposit by promoting holidays.
Customers will pay for a future holiday at todays prices while earning
interest on the linked e-recurring deposit through inflation-proof holiday.
SBIs recurring deposit interest rate is 7.25%.
AWARDS & RECOGNITIONS
Keralas She-Taxi bags CMs innovation award
Keralas all-women taxi cab service She-Taxi had bagged the prestigious Chief
Ministers Award for Innovation in Public Policy 2014.
She-Taxi idea was chosen for the honor taking into account it as a unique
model and its prospects to reproduce in other places.
The initiative had deal with the safety and security concerns of women
travelers.
The award had been received by Gender Park CEO Dr P T M Sunish and the
She-Taxi representatives from K Muraleedharan, MLA, at a function.
APPOINTMENTS
Anoop Bhaskar joins IDFC Mutual Fund
IDFC Mutual Fund has designated the Anoop Bhaskar as its head of equities. Prior
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to this appointment, he was the head of equities at UTI MF and is considered one
of the finest fund managers.
He will succeed Kenneth Andrade.
The AMC manages a range of funds across debt and equity asset classes and has a
distribution reach that covers 39 cities directly and has an indirect presence in
over 283 towns across India.
John Nicholson appointed NATO Commander in Afghanistan
John Nicholson appointed NATO Commander in AfghanistanArmy Lieutenant General John
Nicholson has been designated as the commander of the NATO forces in Afghanistan.
He will succeed US General John Campbell.
Prior to this appointment, Nicholas was US Army commander of NATO land forces.
John Nicholson appointment was confirmed by the Senate Armed Services Committee
during a Congressional hearing on Afghanistan.
Keys Afghanistan:
Capital Kabul
Currency Afghan afghani
President Ashraf Ghani
World Bank Expert Mr. Iyer to Lead Swachh Bharat Mission
GOI has accredited World Banks water and sanitation specialist, Parameshwaran
Iyer (56), as the new Secretary of the Drinking Water and Sanitation Department.
He is appointed for a period of 2 years and will be responsible to steer the
Swachh Bharat Mission.
About Parameshwaran Iyer:
An IAS officer of the UP cadre is the key person behind the proposed $1,500
million loan from World Bank for the Swachh Bharat Mission.
He took voluntary retirement in 2009 and joined the World Bank.
ACQUISITIONS & MERGERS
Japser Technologies acquired by Cisco for $1.4 bn
California headquartered Cisco Systems Inc has publicized to acquire Jasper
Technologies that connect devices to internet for $1.4 billion in cash and equity
awards.
This acquisition enables Cisco to access IoT solution that is interoperable
across devices and works with IoT service providers, application developers
and environment of partners.
Birla Corp Acquires cement arm of Reliance Infra
Anil Ambani-led Reliance Infrastructure inked a concord to sell its cement
business wing Reliance Cement to Birla Corporation for Rs. 4,800 crore.
The decision in this regard has been taken as the part of the Reliance
Infrastructures efforts to reduce its debt.
Reliance Cement currently has 3 plants in India with total installed capacity 5.6
million tonnes per annum (MTPA).
SCIENCE & TECHNOLOGY
Reliance Defence to set up Dhirubhai Ambani Centre for Innovation & Research in
Aerospace in Bengaluru
Reliance Defense had announced to set up Dhirubhai Ambani centre for research,
development and innovation in aerospace technology.
The proposed centre will produce more than 1,500 highly-skilled jobs.
It will also support governments plan for indigenous design, development and
manufacturing of defense equipments.
This research centre is first-ever private center of its class in India.
This is Make in India initiative by the government in the defense sector.
Arun Jaitley launches Finance Ministrys official YouTube channel
Finance Minister Arun Jaitley launched the official YouTube channel for the
Ministry of finance. The channel will be launched before the start of the Budget
session.
The channel will distribute information on a real-time basis.
The channel will display videos featuring schemes launched by the PM Jan
Dhan Yojana Launch, Pradhan Mantri Mudra Yojana, Insurance schemes, among
several others.
The channel also have videos of the reforms introduced in the Union Budget
2015 and speeches of Finance Minister Arun Jaitley .
SPORTS
ICC removes India from Permanent member status
The ICC has removed India, England and Australia as the permanent members of its
decision-making executive committee.
In decision in this regard has been taken due to the widespread criticism
received by ICC suggesting that these countries would take over cricket at the
expense of other member nations.
ICC chairman would not be allowed to hold a position in a member country board.
Current Affairs Today February 6 2016
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INDIAN AFFAIRS
PMKVY completes 10 lakh enrolments under Skill India
The front runner programme of Ministry of Skill Development and Entrepreneurship,
Pradhan Mantri Kaushal Vikas Yojana (PMKVY) has completed 10 lakh enrolments.
As per the recent announcement, there are 10, 28,671 enrolments under 382
active job roles out of which 70% have already completed their trainings.
The scheme has been implemented by National Skill Development Corporation (NSDC)
in all over Indian covering 596 districts and 531 constituencies. To educate and
encourage the youth to avail the scheme, 410 Kaushal Vikas Shivirs were conducted
across the country.
Govt approves Rs 17,000-crore highways projects for 9 states
The government of India had approved highway projects worth about Rs 17,000 crore
for 9 states. These projects have been built under National Highways Development
Project (NHDP).
hese projects are built for Rajasthan, Gujarat, Maharashtra, Kerala, Odisha,
Uttar Pradesh, Andhra Pradesh, Chhattisgarh and Punjab.
Under these 18 projects will be built with about 1,000 kms of highways for 9
states
These projects will attract investors in the highway building sector.
Labour Ministry signed agreements with employment & career activities orgs
In a bid to exploit the potential of National Career Service (NCS) project, Union
Labour Ministry has inked 8 agreements with leading organizations engaged in
employment and career related activities.
The MoUs has been signed with Uber, Quikr, Monster, Tech Mahindra, Babajobs,
India Staffing Federation, Buzzmatic Ventures and GoldFish to expand and
enhance the scope of the project.
This partnership will also provide transparent and credible platform for both
employers and job seekers from possible fraudulent practices.
Union Government to set up National Organic Farming Research Institute in Sikkim
The Union Ministry of Agriculture and Farmers Welfare had decided to set up
National Organic Farming Research Institute in Sikkim by upgrading the Regional
Centre of the Indian Council of Agricultural Research in Gangtok.
The assessment for institute was made by the Union Agriculture Minister Radha
Mohan Singh and Sikkim Agriculture Minister Somnath Poudyal in New Delhi.
Sikkim will be now the first fully organic state in the country
Prime Minister dedicated Brahmaputra Cracker and Polymer Limited to Nation
The Prime Minister Mr. Narendra Modi had been dedicated to the nation, Brahmaputra
Cracker and Polymer Limited, a petrochemical complex, at Lepetkata, near Dibrugarh.
This is the first ever petro-chemical project in the entire North-East.
The project will help in employment generation, and avoid massive cost overruns.
The Projects includes MUDRA and Start-up India to create fresh opportunities
for the youth.
These projects will provide natural raw material for the industrial purposes.
INTERNATIONAL AFFAIRS
Hamid Ansari visit to Thailand and Brunei An Overview
Vice-President Hamid Ansari was on 5 days two-nation tour to Thailand and Brunei
for enhancing bilateral relations by holding talks with the head of governments,
political leaders and Indian diaspora.
Bhel launches Kosti thermal power plant in Sudan
Bharat Heavy Electricals Ltd (BHEL) in Chhattisgarh
Bharat Heavy Electricals Limited (Bhel) launched a 500 Mw Kosti thermal power
plant in Sundan, this plant will be the largest plant in that country also its
the first crude-oil fired thermal power plant in Africa.
The plant was inaugurated by Omer Hassan Ahmed El-Basheer President of Sudan.
The Kosti project consist of 4 units of 125 Mw capacit .
Key
Capital of Sudan Khartoum
Currency of Sudan Sudanese pound
CMD of Bhel Atul Sobti
BANKING & FINANCE
Mahindra AMC gets SEBI nod to enter MF business
Mahindra Asset Management Company has received a stamp of approval from SEBI to
initiate its mutual fund business. This newly formed MF business will focus on
investors in semi-urban and rural markets.
With the entry of Mahindra MF, the number of fund houses operating in India
will rise to 43.
Mahindra AMC also designated Ashutosh Bishnoi as its CEO and MD.
Mahindra AMC, a wholly-owned subsidiary of Mahindra & Mahindra Financial Services
(MMFS).
RBI survey forecasted FY17 GVA at 7.8%
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As per the recent RBI survey, the real Gross Value Added at basic price (GVA) is
expected to increase to 7.8% in the next fiscal (2016-17) from 7.4% expected in
2015-16.
GVA is an internationally accepted measure to gauge economic activity in a
country. Gross value added is the measure of the value of goods and services
produced in an area, industry or sector of an economy.
BUSINESS
SEBI forms task force to review risk management norms for commexes
Capital markets regulator SEBI has instigated a task force to review the risk
management norms for national-level commodity bourses following the suspension of
futures trading for castor seed on NCDEX.
The task force has been asked to submit the report within 3 weeks.
The recent development in castor seed contracts and reports of high volatility in
other commodities such as turmeric and coriander have forced SEBI to set up a task
force to see if risk management norms can be further tightened.
AWARDS & RECOGNITIONS
RBI gets award for innovation in XBRL reporting
The Reserve Bank of India had been awarded with the extensible Business Reporting
Language (XBRL) International Award for Excellence and its efforts to improve
regulatory reporting
XBRL(extensible Business Reporting Language) is a freely available and global
standard for exchanging business information.
XBRL allows the expression ofsemantic meaning commonly required in business
reporting.
The language is XML-based and uses the XML syntax and relatedXML
APPOINTMENTS
Singapore Airlines appointed David Lim as GM India
Singapore Airlines has designated David Lim as the General Manager India w.e.f.
April 3, 2016. He will succeed David Lau.
He will be responsible for overseeing all India operations of Singapore
Airlines.
Graduate from National University of Singapore, Lim began his career at Singapore
Airlines in 1988. He worked in various capacities within passenger and cargo
service operations.
Ashok Kumar Bhargava re-elected as chairman of Indian Tea Association
Tea Associations national committee has re-elected Ashok Kumar Bhargava, Azam
Monem and Vivek Goenka as chairman, vice-chairman and additional vice-chairman
respectively of the association.
As chairman of Indian Tea Association Ashok Kumar Bhargava will concurrently
hold the chairmanship of Consultative Committee of Plantation Associations
(CCPA), the apex body of Tea Plantation Association in India.
Yogeshwar Sangwan appointed as the next Ambassador of lndia to the Republic of
Armenia
Yogeshwar Sangwan had been appointed as the next Ambassador of India to the
Republic of Armenia.
He is currently serving as Deputy Chief of Mission in Tehran in Ministry of
Overseas and Indian Affairs in the Ministry of External Affairs
He was Indian Forest Service (IFS) officer of 1994-batch.
Yogeshwar will succeed Dr. T. Suresh Babu in Republic of Armenia
SCIENCE & TECHNOLOGY
CRMNEXT launches Indias first cloud bsaed digital CRM platform
CRMNEXT had launched Indias first cloud based digital CRM platform to provides
commutable cloud CRM solutions.
This technology will play a larger role in connecting with the customer on a
day-to-day basis.
The CRM system will now provide a seamless transaction from anywhere at any
time and anyhow.
In the financial services space like HDFC Bank, Axis Bank, ICICI Bank and
institutions like Max Life Insurance and Bajaj Auto Finance CRMNEXT already
have its customers.
Key
CEO of CRMNEXT Nishant Singh
First artificial graphene created
The first artificial graphene-like structure had been created by the University of
Arkansas. The team of researchers was headed by an Indian-origin researcher.
Graphene was discovered in 2004 is a one-atom-thick sheet of graphite.
Graphene transistors are expected to be considerably faster and more
heat-tolerant.
The element created will be placed in the carbon group.
The discover atom will be able to create graphene-like structures for many
other elements.
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ENVIRONMENT
Birds of 11 rare species found in Jharkhand
Birds of 11 rare species have been found in Jharkhand during a survey of the water
bodies. These species are deliberately to be extinct in the past.
The survey was carried out by the Jharkhand forest department.
The birds count around reservoirs and other water bodies which includes 25
dams, in the state is nearly about 71,134 as recorded by the Asian Bird Survey
2015.
SPORTS
Mumbai International Open Chess tournament Title clinched by Swapnil S Dhopade
Mumbai International Open Chess tournament Title clinched by Swapnil S DhopadeRs.
7.5 lakh IIFL Wealth Mumbai International Open Chess tournament title has been
clinched by Grandmaster Swapnil S Dhopade of Maharashtra which was held in Mumbai.
Swapnil S Dhopade was followed by International Master Stany G A of Karnataka
with 7.5 points and Himal Gusain of Chandigarh sat at 3rd place with 7 points.
Dhopade bagged the prize money of Rs 1.5 lakh while Stany pocketed Rs 1.2 lakh and
Gusain got the cash reward of Rs 1 lakh.
OBITUARY
Noted cartoonist Sudhir Tailang passes away
Noted cartoonist Sudhir Tailang passes awayPadma Shri awardee, eminent cartoonist
Sudhir Tailang passed away due to brain tumour. He was 55.
He was suffering from GBM-4 stage brain tumour and had undergone two surgeries
and chemotherapy during the course of his treatment over two years.
About Sudhir Tailang: In 1982, he started his career with the Illustrated Weekly
of India in Mumbai after that he joined Navbharat Times in New Delhi. Late PM
Indira Gandhi was the first prey of Tailangs pen.
He had also worked with Hindustan Times, the Times of India and the Indian
Express. His last assignment was with the Asian Age.
In 2004 he was conferred with Padma Shri.
NASA Astronaut Edgar Mitchell died
Edgar Mitchell had died in West Palm Beach Florida. He is one of 12 men and sixth
man to walk on the Moon. He joined NASA in 1966.
He was born on September 17, 1930 in Hereford Texas, US.
He had spent more than nine hours collecting rocks, taking measurements and
hitting a pair of golf balls on the Moons surface.
He had created the Institute of Noetic Sciences to research paranormal
phenomena and consciousness.
He was a part of the support crew for the Apollo 9 and Apollo 10 missions.
IMPORTANT DAYS
International Day of Zero Tolerance to Female Genital Mutilation
To raise awareness about the female genital mutilation (FGM) and to promote its
eradication, every year February 6 is celebrated as the International Day of Zero
Tolerance to Female Genital Mutilation.
Theme 2016 Achieving the new Global Goals through the elimination of Female
Genital Mutilation by 2030
Current Affairs Today February 7 2016
INDIAN AFFAIRS
Sushma Swaraj visit to Sri Lanka An Overview
External Affairs Minister Sushma Swaraj was on two day visit to Sri Lanka to
discuss the fishermens issue and rights of minority Tamils.
9th Joint Commission meeting
Both Nations signed MoUs on education and health sectors
Rise of Digital India
Govt consented to Heritage Development Projects for AP & Telangana
In a bid to improve tourist infrastructure in heritage places of Amaravati in
Andhra Pradesh and Warangal in Telangana, urban development ministry has given its
stamp of approval to the projects worth of Rs. 12 crore.
An inter-Ministerial HRIDAY National Empowered Committee approved development
of Heritage Park in Amaravati and 1000 Pillar Temple, Kazipet Durgah and
Padmakshi Temple in Warangal.
Project Sunrise launched for prevention of AIDS in NE states
Union Ministry of Health and Family Welfare had launched Project Sunrise on for
prevention of AIDS in the 8 North-Eastern states. The funding of project is done
by theCentre for Disease Control of the United States. First cases of HIV were
diagnosed in 1986 among sex workers in Chennai.
The objective of this AIDS prevention project is to diagnose 90 per cent of
such drug addicts with HIV and put them under treatment by 2020.
Maiden Kerala Literature Festival held at Kozhikode
The maiden Kerala Literature Festival was hosted in Kozhikode at which key topics
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like spirituality, social media, womens issues, Dalit issues, freedom of

expression, environment issues and media activism were discussed.
Dalit issues were also discussed in a session Dalit Literature Past and
Present and Consciousness of Indian Religion and the Suicide of Rohith
Vemula.
Noted documentaries, feature films and documentary fictions were also screened
on various contemporary topics.
50 leading writers from across the country took part in the four-day festival,
which was organized by the Department of Culture and Kozhikode Corporation in
alliance with D.C. Books.
PM dedicates NISER to the nation
National Institute of Science Education and Research (NISER) at Bhubaneswar,
Odisha has been dedicated by PM Modi to the nation.
The Prime Minister urged the students of NISER to work towards making NISER
Indias greenest campus, and a zero-emission, zero-discharge campus which uses
only renewable energy.
India has over 15 lakh registered companies
As per the latest data compiled by the Corporate Affairs Ministry, India has more
than 15 lakh registered companies but only 10.7 lakh of them were active at the
end of 2015.
This is higher than 14.39 lakh companies registered at the end of December 2014.
The Corporate Affairs Ministry is implementing the Companies Act, 2013 whose most
provisions came into force in April 2014.
Akhilesh Yadav launches new UP Revenue Code
Uttar Pradesh Chief Minister Akhilesh Yadav had launched a new UP Revenue Code.
The aim of this launch is to eradicate old laws relating land revenue and land
reforms and greater dispute resolution.
The old revenue laws will be abolished and now new simplified and rapid laws
were maintained and implemented.
The new code 39 Acts is implemented which includes Land Revenue Act 1901 and
after this Zamindari and Land Reform Act 1950 will be abolished.
Indias first fully solar-powered educational institute now in Puducherry
Indias first fully solar-powered educational institute had been launched by Sri
Aurobindo International Centre for Education Puducherry.
The institutes produce three times of the electricity it consumes through solar
power plants.
The institute saves Rs 10,000 every month on the electricity bill.
The solar plant system is installed on the roofs of the dining room, primary
school, library and high school of the campus.
The institute has been self-sufficient in energy since September 2014.
INTERNATIONAL AFFAIRS
Indian to be on UN panel on womens economic
India is now in the UN panel on womens economic empowerment. Padma Shri awardee
Renana Jhabvala, social worker from Ahmedabad had invited to serve as a panelist.
The aim of the panel is to finish the economic gender gaps that persist around
the world.
The panel had been established to offer advice on improving economic upshot
for women and promoting womens leadership and to counsel the implementation
of 2030 Agenda for Sustainable Development.
The panel is sponsored by the United Kingdom, the World Bank Group and UN Women.
BANKING & FINANCE
CAMS launches Aadhaar-based eKYC for setting up MF account instantly
CAMS had launched Aadhar based eKYC (know your customer) for setting up an instant
(MF) mutual fund account. The system had been launched to make mutual fund account
opening and transactions a paperless and presence less process.
Investors can voluntarily submit Aadhaar and mobile numbers for validation
with Aadhaar or UIDAI (Unique Identification Authority of India)
The authentication is done using OTP (one-time password) through CAMS at
camsonline.com
BUSINESS
IPAB approves GI tag for Indian Basmati rice
The Intellectual Property Appellate Board (IPAB) had approved the Geographical
Indications Registry (GI) tag for . The report is given by the geographical
isolation conducted by the Agricultural and Processed Food Products Export
Development Authority (APEDA).
Basmati rice-producing states in north Indian to get GI tag are Punjab,
Haryana, Himachal Pradesh and Uttarakhand and parts of Uttar Pradesh and Jammu
& Kashmir.
ACQUISITIONS & MERGERS
Chhattisgarh govt to form joint venture company with Railways
Chhattisgarh government will be forming a joint venture company with the Ministry
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of Railways. The project is formed for the development and extension of railway
tracks in the state.
The state Commerce and Industries Department and the Railway Ministry signed
the MoU for the project.
The state government will have 51 per cent share and the Railways remaining 49
per cent share in the project
Key
Chief Minister of Chhattisgarh Raman Singh
Capital of Chhattisgarh Raipur
SCIENCE & TECHNOLOGY
Navy showcases bio-diesel run patrol craft at IFR 2016
The Indian Navy conducted an International Fleet Review (IFR) at Visakhapatnam.
Navy showcases bio-diesel run patrol craft at IFR 2016
IFR 2016 Mascot Dolphin
IFR 2016 Theme Song United through Oceans
During the IFR 2016, Indian Navy showcased its bio diesel powered fast attack
craft. It was developed by the lab from the Jatropha Curacas plant.
About International Fleet Review (IFR): President of India being the Supreme
Commander of the Armed Forces, once in his term, reviews the Indian Naval (IN)
Fleet as part of the Presidents Fleet Review (PFR).
Ten Reviews have taken place in India since Independence in 1947.
The first was held in 1953.
Glenmark introduces EMI scheme for cancer treatment drug
In order to help the cancer patients, Glenmark Pharmaceuticals has initiated an
EMI scheme which will help them in their continuation of the treatment and meet
the high cost of medication.
Two drugs are covered under the scheme viz. Abirapro prescribed for prostate
cancer and Evermil or different cancers.
Currently, Abirapro 250 mg in 120-pack size is priced at Rs. 39,990 and 10 tablet
packs of 10 mg Evermil tablets is priced at Rs. 29,965.
Patients have the option of EMI tenure of 3 months, 6 months and 9 months.
They can use credit cards at select locations to buy the drugs.
Company rolled out the flexi pay initiative in 12 cities Bengaluru, Mumbai,
Pune, Ahmedabad, Hyderabad, Kochi, Kolkata, Chennai, Indore, Jaipur, New Delhi
and Chandigarh.
SPORTS
Watson top buy, Yuvraj too gets million-dollar deal
Shane Watson Australias player is at the top for a whopping Rs 9.50 crore, Yuvraj
Singhis too gets Rs 7 crore deal in low-key IPL players auction
Pawan Ne I Indian all-rounder was bought for Rs 8.5 crore by Delhi Daredevils.
Ashish Nehra Indian pacer expert was bought for Rs 5.5 crore to Sunrisers
Hyderabad.
Ishant Sharma for Rs 3.8 crore by Rising Pune Super Giants
Kevin Pietersen for Rs 3.5 crore to Rising Pune Super Giants (RPSG)
Dwayne Smith for Rs 2.3 crore by Gujarat Lions
West Indian batsman Carlos Brathwaite was whopping Rs 4.2 crore by Delhi
Daredevils
Indian pacer Mohit Sharma, for Rs 6.5 crore was taken by Kings XI Punjab.
Australian all-rounder Mitchell Marsh bid Rs 4.8 crore for the enterprising
player.
Indian wicketkeeper-batsman Dinesh Karthik, for Rs 2.3 crore with Gujarat Lions.

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