Current Affairs June 29, 2015

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1. Non- traditional threats stalk Kolkata- Kunming corridor: Ren Jia, President of the Yunnan Academy of Social sciences, advocated a four- country institutional tie-up to address the non- traditional security threats to the BCIM( Bangladesh - China- India- Myanmar) project.
2. Metro rail to start functioning from today at Chennai: The long wait of people of the Chennai city to travel by Chennai metro rail will finally come to an end with the first service chugging off at noon on 29th June, 2015.
3. Rajan did not make alarmist remarks RBI : The RBI clarified that Governor Raghuram Rajan did not say the world was at risk of another Great Depression. Instead , Dr. Rajan had meant that some policies followed by central banks around the world were similar to those followed prior to the Great Depression. This explanation comes because there was a feeling that Rajan has said that the world was at the risk of another great depression.
4. Rail line to link Jaigarh Port to Konkan Railway : A 33.7 –km railway corridor, connecting Jaigarh Port to the Digni station of Konkan Railway, is set to become a reality. This will be able to handle 12 million tonnes of cargo a year.
5. Greece to shut banks, markets on 29th June to avoid financial panic : Greek banks and the stock exchange will be shut on 29th June 2015 after creditors refused to extend the country’s bailout and people queued up before banks to withdraw cash.
6. Punyakoti India’s first Sanskrit animation feature film : Ravi Shankar of Bangalore has created India’s first contemporary animated feature film in Sanskrit called “Punyakoti”. The story is based on a Kannada folk tale. The project is crowd sourced and crowd funded by animators and people from all over the world.
7. Employees buy French firm’s stake in MNC: VINCI of France , one of the worlds’ largest construction company did not see potential in India had pressed the exit button. But in a giant leap of faith, the employees of the company have stepped in to acquire the French company’s stake in NAPC, a Chennai – based infrastructure company.
8. RBI to mint 1.2 crore coins for Kumbh devotees: RBI is all set to mint coins of various denominations especially for the Kumbh Mela. Bank officials estimate the total valuation of coins to be around 3 to 3.5 crores.
9. India is Number Two partner in new Asian Bank: Representative of 57 countries are set to finalize their membership to the newly formed Asian Infrastructure Investment Bank( AIIB) in Beijing on 29th June2015. India is expected to hold the second largest share in the new bank after China.
10. Modi reaching out to Africa: PM Modi in an out- of- the - box initiative, is deputing several of his ministers including V.K singh, Rajiv Pratap Rudy, Dharmendra Pradhan as his special envoys beginning from July across 54 African countries to invite their leaders for the mega summit here in October.
11. VC fund worth Rs.500 crore for Pharma Industry: The centre plans to set up Rs.500 crore venture capital fund to boost domestic Pharma industry and provide cheaper loans to entities looking to establish or upgrade manufacturing facilities in the Pharma sector.