CURRENT AFFAIRS 2nd JULY, 2014

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1. According to a latest list released by the International Shooting Federation (ISSF), Jitu Rai was ranked world No.1 in men’s air pistol. He had won a silver in the Munich World Cup and the gold in the Maribor World Cup in air pistol to move to the No. 1 rank from No. 26.

2. RBI has released guidelines for starting small banks in unbanked areas and mobilize resources. It mandated minimum capital requirement of Rs.200 crore as against Rs.5 crore earlier for setting up small banks. These local area banks is to provide basic banking facilities and will face restrictions in wholesale lending and foreign exchange business.

3. India has sought assistance from France and Singapore on expertise relating to development of 100 smart cities - a pet project of Narendra Modi. India also plans to build heritage cities and Global city by 2019. Smart cities concept followed in Singapore include smart concept for generating energy savings up to 30 per cent and reducing carbon emissions and Smart Energy Grids for electricity demand and supply to interact intelligently.

4. The European Court of Human Rights (ECHR) upheld France’s controversial burqa ban and rejected arguments that outlawing full-face veils violates religious freedom. It also said that the ban did not violate any of the European Human Rights provisions to protect freedom of though, conscience and religion.

5. HSBC Purchasing Managers’ Index (PMI) has raised to 51.5 points in June denoting rise in manufacturing activity. The June data highlighted a marked and accelerated expansion of new export orders received by Indian manufacturers. All three broad areas of the manufacturing sector registered higher production volumes, led by consumer goods producers.