Current Affairs Oct 04, 2015

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01. Shashank Manohar is the new BCCI President: Shashank Manohar was elected unopposed as the new president of Board of Control for Cricket in India (BCCI) . He is a member of Vidharba Cricket Association. Being a lawyer by profession, he has assured to cleanse BCCI thoroughly.

02. Mudra Loans disbursed in Jharkhand:Under Mudra loan scheme, loans were distributed to thousands of beneficiaries in the state of Jharkhand. PM Modi also inaugurated free LPG connections in the state recently.

03. RBI likely to reduce repo rate in December: Merrill Lynch (Bofa-ML) report has indicated that RBI would go for a further reduction in repo rate during the December monetary policy announcement, on account of the satisfactory levels of inflation rate in the country.

04. Extreme poverty may come down below 10%: Despite concerns over poverty in Africa, the good news is that extreme poverty may fall below 10% of the global population. As per the World Bank estimates, 9.6% of the total population may live below the poverty line.

05. Switzerland set to release list of unclaimed Accounts: During December 2015 Swiss Government has decided to release the names of the persons whose accounts have not been claimed for the past 60 years. However, only the names are to be released and not the names of the banks where the accounts are existing and not the value of assets too.

06. E-panchayat initiative by Telengana Government: E-panchayat initiative by Telengana Government was launched in the village panchayats of the state. This service will offer e-governance to the people of the villages, simplifying their lifestyles.

07. Quoting PAN card numbers being made mandatory for cash transactions beyond a limit: Government is considering making the mention of PAN cards for cash transactions, beyond a limit. During the budget speech, the FM had announced that Rs.1 lac will be the threshold limit for quoting PAN cards.

08. Reduction in Repo rates to attract Foreign Portfolio Investments (FPI): Recent Repo rate reduction would result in Rs.48,000 crores FPI in Government Bonds in the next 2 to 3 years.

09. Infosys is now the 3rd most valuable company in terms of Market Valuation: IT giant Infosys overtook HDFC Bank to become the 3rd most valuable company in terms of Market Valuation.

10. Banks given additional time to grant soft loans to sugar industry: The GOI has granted an additional 15 days to grant soft loans to sugar mills, to facilitate them to clear the arrears of payment owed by them to sugar cane growers. Banks were advised to give loans to the tune of Rs.2700 crores to sugar mills to enable them to make settlements to the farmers who grow sugarcane.