Current Affairs Aug 30, 2015

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01. 35million dollars business opportunity for Indian IT companies in Africa: Nasscom has predicted $35 million as a few of the African nations have decided to reduce dependence on the U.S and U.K Markets. Presently these markets account for nearly 80% of their overseas business.

02. PSBS need Govt. Support for viability of social schemes says SBI Chief: SBI Chairperson Smt.Arundhati Bhattacharya has said that the Banks need the support of the Government for the viability of social schemes.

03. Indian women hockey team qualifies for Olympics after 36 years: The Indian women hockey team has qualified for the next year’s Olympics. The team had last played in the Olympics games during1980 and finished fourth in the tally. This is the first time when the Indian women made it to the Olympics through the qualification system.

04. ONGC, partners to invest $24 billion in Mozambique: ONGC and its partners will invest about USD 24 billion in producing natural gas, convert it into LNG fuel and export it to countries like India.

05. Govt. planning India’s longest express highway : As part of the scheme to connect Hindu religious shrines Char Dham in the state of Uttarkhand, the Government has proposed to construct a 600kms. expressway to link Delhi with Katra, which is the base for pilgrims visiting Vaishno Devi in J&K

06. Brookfield Asset Management to enter Indian infrastructure sector : Canada’s bigwit Brookfield Asset Management has made a significant investment in Indian infrastructure sector in the way of road and power projects which it bought from India’s Gammon Infrastructure Project Ltd.

07. Twitter to hire more women: Twitter has announced that it will hire more women at various levels, to bridge the gender gap. According to the announcement, the representation of women will be increased to 35 percent across the spectrum.

08. Payment banks can indirectly help infra-structure sector: Payments banks can annually free up a whopping Rs 14 trillion in incremental credit for the fund-starved infrastructure sector, says a SBI Research report. Explaining further, the report said people are holding around 13 per cent of cash with them for their day-to-day transactions. Even if the cash with the public comes down by 1 per cent, it will increase banks’ deposit base by around Rs 15 trillion and given a credit-deposit ratio of 75 per cent banks can loan out an additional Rs 11.25 trillion, through the multiplier effects.