Current Affairs Oct 22, 2015

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01. UK and China enter into Nuke Pact: United Kingdom and China signed a significant nuclear deal to build the UK’s first nuclear plant, since 1980s. The cost of the project is expected to be 18 Billion pounds.

02. Japan offers a loan to India at a lower rate of interest than China: Japan has offered a loan of US $ 15 billion to construct a line between Mumbai and Ahmedabad, which would operate the first ever bullet train. This loan is at a 1% lower rate of interest than China, which offered a loan and also agreed to conduct a technical study of the project.

03. Bank of India tunes up recovery measures: Bank of India has pepped up its recovery measures to tackle the stressed loans. The recovery has been increased by 20% due to these measures. In the June quarter, its bad loans rose to Rs.26,889 crores from Rs.12,532 crores, which contributed to 6.80% of the total loans.

04. Rural inflation is higher than the urban inflation: As per the data made available by HSBC Bank, the inflation in rural areas seems to be higher than the inflation in the urban areas. Details pointed out that the inflation rate was 6.5% in rural India, whereas it stood at 4.5% in the Urban India.

05. Decline in iron and steel exports: India’s iron and steel exports plummeted by 41% to $4.57 billion in September , as against $7.69 billion a year ago. Iron and steel along with non-ferrous metals form a major component of the total exports from the engineering sector.

06. 36,000 tonnes of pulses recovered from hoarders: Nearly 36,000 tonnes of pulses were recovered in anti-hoarding operations, which were launched throughout the country. Nearly 23,000 tonnes were recovered from Maharashtra alone, where the hoarding was at its peak.

07. Reliance Capital to buy Goldman's Indian fund unit for $37.5m: Reliance Capital Asset Management said on Wednesday it would buy Goldman Sachs fund management unit in India for $37.5 million, marking the latest exit by a foreign fund manager.

08. Anil Kumble becomes ambassador: Veteran leggie Anil Kumble has been nominated as the brand ambassador for Champions Tennis League team Raipur Rangers. This tournament was conceptualized by Vijay Amritraj.

09. First car free day observed in Delhi: On October 22nd the first ever car-free day was observed in New Delhi, to create awareness among the people to use public transport. The cars went off the road for five hours from 7 am to 12 noon. The Delhi Government has decided to observe this type of car-free day in Delhi on October 22nd of every month, in various areas of the city.

10. New mobile manufacturing facility in Tirupati: A new mobile manufacturing hub is coming up in Tirupati. In this hub, Foxconn has already started manufacturing its brand of phones Xiomi and Gionee. All other leading mobile manufacturers are also expected to erect their units here. This hub has an installed capacity to manufacture 7 crore mobile sets annually.