CURRENT AFFAIRS 4th JULY, 2014

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1. India declined to ratify Trade Facilitation Agreement during the WTO negotiations in Geneva. It rejected it due to the inclining nature of the agreement towards developed countries. Geneva negotiations are a follow up to the Bali ministerial meetings of WTO.

2. Government has appointed R.Gandhi as Deputy RBI Governor for a 3 year term. The appointment follows retirement of Anand Sinha in January 2014. He will handle the department of banking operations and development (DBoD), which was instrumental in forming guidelines for the new bank licence process.

3. Centre formed a committee of secretaries to resolve differences between the Unique Identification Authority of India (UIDAI) and the National Population Register (NPR). Both the authorities have similar objectives thereby leading to a conflict over registration and enrollment of residents. UIDAI, which has given Aadhaar numbers to over 640 million residents, was introduced by the United Progressive Alliance government. The NPR is the brainchild of the previous NDA government.

4. World leaders including US, Russia have come forward to push Ukraine peace deal following the resumption of conflict between pro russian supporters and Ukraine regime. They agreed for peace talks at a meeting in Berlin.

5. Government plans to implement direct cash transfer of LPG subsidy without linking it to Aadhaar platform. The proposal will help in reducing Oil agencies’ growing debt and improve efficiency by directing subsidies only to the needed.