Current Affairs August 1, 2015

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1. Centre to pump Rs. 70,000 cr. into PSU banks: The Modi government announced a big-bucks boost to investments in the economy. Union Finance Minister Arun Jaitley told Parliament that the Centre will over the next four years infuse Rs.70,000 crore out of budgetary allocations into state-owned banks.

2. Vaccine developed to fight Ebola: The Ebola virus is likely to be eradicated once for all as a new vaccine developed against the disease by Public Health Agency of Canada has shown 100 % efficiency in a trial that was carried out in Guinea.

3. Hong Kong fines SBI branch for 'anti-money-laundering lapses': The Hong Kong central bank said it had fined State Bank of India's Hong Kong branch HK$7.5 million ($1 million) for breaching the city's anti money-laundering and counter terrorism financing rules.

4. IIP Growth slows to three percent in June: Growth in the index of eight core industries slowed to three percent in June compared to 4.4 percent in May, underscoring the poor growth in economy as shown by the Index of Industrial Production data for May.

5. Sebi warns against illegal fund-raising: West Bengal has 104 companies out of 194 against whom Sebi has taken action for raising money by issuing non-convertible and convertible preference shares, debentures etc,. According to industry sources, investors in rural areas of the eastern region fall prey to unauthorized fund-raising by companies because of low level of financial literacy.

6. Non-salaried ITR forms out : The Central Board of Direct Taxes (CBDT) has notified the revised income tax (I-T) return forms for non-salaried individuals for the assessment year 2015-16 (financial year 2014-15, which ended as of March 31, 2015).

7. Centre downplays RBI board change: The finance ministry downplayed its decision to break from tradition and replace economic affairs secretary Rajiv Mehrishi with his deputy Ajay Taygi on the Reserve Bank of India board.

8. Microsoft launched its newest operating system: Microsoft launched its newest operating system for PCs, tablets and hybrid devices. As part of this launch, users running licensed version of window 7, window 8, window 8.1 are eligible for a free upgrade over the internet.

9. Sebi panel eyes crowdfunding: The Sebi-constituted committee headed by Infosys founder N R Narayana Murthy, which is working to boost India's thriving startup ecosystem by channelizing funds, has formed focussed groups with experts from taxation, investment banking and software industry.

10. Ashwin presented with Arjuna Award: Union Sports Minister Sarbananda Sonowal gave away the Arjuna Award to R. Ashwin. The off-spinner was unable to make it to the National Sports Awards function on August 29 last year as he was in England playing the One-Day International series.