CURRENT AFFAIRS 17th JULY, 2014

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1. Reserve Bank of India has signed a memorandum of understanding (MoU) with the Monetary Authority of Hong Kong for exchange of supervisory information. It promotes greater cooperation by sharing of information about the supervised entities among the national authorities.

2. The US and EU have imposed fresh sanctions on Russia as it continued its provocative and destabilising actions in Ukraine. Sanctions will affect Russia's finance, military and energy sectors.

3. According to First-ever UNAIDS ‘Gap Report’, India has the third-highest number of people living with HIV in the world with 2.1 million Indians accounting for about four out of 10 people infected with the deadly virus in the Asia-Pacific region.

4. Finance ministry is considering an amendment to the Finance Bill, 2014 to double the rate of long-term capital gains tax on debt mutual funds - from 10 per cent to 20 per cent.

5. Government will reserve 10 per cent of the shares sold through the auction route of public sector firms for retail investors along with discounts on the offer price. The reservation will be available only for retail investors who bid for amounts less than Rs 2 lakh. Centre is planning to sale shares in state-run ONGC and SAIL ltd.

6. Centre sought Supreme Court six months time to take a view in the matter of creating a national environment regulator and to comply with a statutory provision in the Environment Protection (EP) Act.