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CURRENT AFFAIRS 9th Jan., 2015

1. Union finance ministry has agreed to banks’ long-standing demand for commission for Direct Benefits Transfer (DBT) transactions. Earlier, a task force headed by Nandan Nilekani, former chairman of the Unique Identification Authority of India (UIDAI), recommended a commission of 3.14 per cent to be paid for all DBTs handled by banks and business correspondents.

2. Prime Minister Narendra Modi inaugurated the state-of-the-art Dandi Kutir, a museum on the life and works of Mahatma Gandhi in Gujarat's capital of Gandhinagar on the occasion of the 13th Pravasi Bhartiya Divas (PBD).

3. According to a report India equity strategy: 2015 outlook by Deutsche Bank, India's sovereign rating may be upgraded during the current calendar year if it external balances are improved by governments actions.

4. Presidential rule was imposed in Jammu and Kashmir (J &K) based on the recommendation of the Governor of Jammu and Kashmir N N Vohra. The recommendation was made due to the deadlock over the formation of the new government in J & K.

5. Kotak Mahindra Bank secured its shareholders approval for amalgamation with ING Vysya Bank. In November 2014, Kotak Mahindra Bank had announced the takeover of ING Vysya Bank in an all-stock deal valued at 15000 crore rupees.

CURRENT AFFAIRS 10th Jan., 2015

1. Reserve Bank of India (RBI) Governor Raghuram Rajan has stressed the need for independent institutions with public credibility and confidence in the country.

2. Thomas Kurian is appointed as the president of Oracle corporation. He was executive vice-president of product development before elevating to the role of president.

3. Mithripala Sirisena, Health Minister in Rajapaksa government, won the 2015 Presidential Elections of Sri Lanka. Former President Mahinda Rajapaksa from United People's Freedom Alliance got 47.6 percent of the votes polled in the Presidential elections held on 8 January 2015.

4. Finance ministry might announce steep Plan allocation cuts around 10-20% across various government departments to meet the FY15 fiscal deficit target of 4.1 per cent of gross domestic product.

5. Union Cabinet has asked the department of telecommunications (DoT) to examine imposing a cess on the spectrum usage charge (SUC) for the Swachh Bharat Kosh. It also asked the DoT to submit a proposal by January 15. The SUC ranging from 3-8% is a fee cellular operators pay the government for using air waves.

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