Current Affairs July 20, 2015

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1. China rejects Pakistan’s drone claim: China has acknowledged that the drone that had been downed by the Pakistani military was of Chinese origin, effectively refuting claims by Islamabad that it had shot down an Indian Unmanned Aerial Vehicle (UAV) across the Line of Control (LoC).

2. Corporation Bank plans ESPS for employees: Corporation Bank is planning to offer shares to its employees at a discount, a move that would help them reward staff and raise capital. “We are planning Employees Stock Purchase Scheme (ESPS) for our employees at discount,” Corporation Bank Chairman and Managing Director S.R. Bansal told.

3. Mutual funds bullish on EPFO decision: The government's decision to allow Employees' Provident Fund Organisation (EPFO) invest 5 percent of its Rs. 1 trillion investible fund in exchange traded equity funds has made mutual fund houses bullish.

4. US reopens Cuba mission after 54 years: In a symbolic ceremony marking the end of 54 years of hostility, Cuba will raise its flag over a limestone mansion and officially reopen its embassy. Hundreds of people, including U.S. lawmakers, diplomats and others are expected to join visiting Cuban Foreign Minister Bruno Rodríguez, who will lead a delegation of about 30 officials from Havana, including Cuba’s chief negotiator on the normalization of diplomatic ties, Josefina Vidal.

5. China says its role crucial in appointing next Dalai Lama: Hardening its stance on the appointment of the Dalai Lama's successor, China said it played a "vital role" in the succession as it had officially conferred the title of the 5th Dalai Lama in 1653.

6. Sivasankaran wins Rs 338 crore 3G refund: In a legal reprieve for NRI businessman C Sivasankaran, the telecom tribunal has granted him a refund of nearly Rs 338 crore that his company, S Tel, paid for allocation of 3G spectrum.

7. President Pranab Mukherjee, not PM Narendra Modi, will make historic visit to Israel: It will be President Pranab Mukherjee and not Prime Minister Narendra Modi who will make the historic first visit by an Indian statesman to Israel and Palestine. The visit will happen in October this year and will include a presidential visit to Jordan as well.

8. 107 MPs including Defense Minister Manohar Parrikar are yet to adopt a village under Saansad Adarsh Gram Yojana: Almost a year after Prime Minister Narendra Modi asked parliamentarians to adopt a village and develop it into a model village, 107 MPs, including defence minister Manohar Parrikar and nine other BJP MPs, have not signed up for the initiative.

9. SBI ties up with bankbazaar.com for home loans: State Bank of India has entered into a Tripartite MOU with Online Financial Product Aggregator ‘bankbazaar.com’ and the Bank’s subsidiary SBICAP Securities Ltd. (SSL). This partnership will help the Bank to provide yet another online platform to the prospective tech savvy home loan borrowers to apply for SBI Home Loans Online.

10. Amazon readies $5 billion India chest for bigger play: Amazon, the world's largest online retailer, is readying a $5-billion war chest to grow India into its biggest market outside the US. It is set to add instant video and subscription-based ecommerce services for high-end buyers, called Amazon Prime, in India