CURRENT AFFAIRS 20th JULY, 2014

DOWNLOAD PDF

1. The government has set up an expert committee chaired by RS Sharma, which will study the recently notified rules and issues relevant to cost auditing. It has been formed amid concerns raised by cost accountants over some provisions in the new Cost Records and Audit Rules.

2. The Genetic Engineering Approval Committee (GEAC) gave the approval for field trials of genetically modified (GM) rice, mustard, cotton, chickpea and brinjal. The committee is headed by Hem Kumar Panda and the only GM crop approved for release in India is cotton.

3. Bolivia has become the first nation to legalise child labour from age 10. The legislation allows 10-year-olds to work under parental supervision and also attend school. It sets 12 as the minimum age for a child to work under contract.

4. Reserve Bank of India (RBI) has begun scrutinising and analysing details of entities, which are believed to have raised money from the public illegally by posing itself as NBFCs. The list of those entities was prepared by Ministry of Corporate Affairs following Rs. 10,000 crore Saradha chit fund scam.

5. HDFC Securities, a subsidiary of HDFC Bank will offer e-Will writing service which allows individuals to easily draw up a tenable Will online with help from a legal firm. It is first of its kind in India.

6. Prime Minister Narendra Modi will address a gathering of around 20,000 people in New York, which will be broadcast live to crowds in 20 other cities in the United States on September 28. His show will be unprecedented in its scale and political message.