Current Affairs Oct 27, 2015

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                                                                     Beata Szydlo

01. IFSC centre goes on stream: International Financial Servicbe Centre (IFSC) has become operational at the Gujarat International Finance Tec-city (GIFT). IFSC Banking Unit (IBU) will offer products such as external commercial borrowings (ECB) to its customers. Yes Bank is the first bank to start the IBU at GIFT.

02. Law and justice party wins elections in Poland: The law and justice party has won the national elections in Poland. Consequent to the victory, Beata Szydlo has been tipped to become the next Prime Minister of Poland. This is the first time since 1980 that a left wing party is absent in the parliament.

03. ICC women’s cricket rankings released: South Africa in the tests, Australia in the ODIs and Sri Lanka in the T-20s were placed at Rank No.1 in the recently released ICC women’s cricket rankings.

04. India will be the world’s largest remittance recipient: As per the data released by World Bank, India will be the world’s largest remittance recipient, which will increase by 2.5% . This trend indicates India’s stable growth of economy.

05. Another silver medal for India in archery: India’s Deepika Kumari has won a silver medal in the Archery World Cup final and this is India’s second silver medal, with Abishek Verma winning yet another silver yesterday.

06. Income Tax rules to be simplified: The finance ministry has formed a committee to simplify the Income Tax rules. The committee will submit its first set of suggestions by January 2016. The changes suggested by the committee will be examined and implemented in the next annual budget.

07. Business sentiment indicator firms up: The MNI India Business Sentiment Indicator, which is a parameter for gauging current confidence among the BSE Listed companies rose to 62.3 from 61.4 which was the figure the previous month. This increase was powered by the recent rate cuts.

08. First installment of LIC loan to railways to be released: The first tranche of LIC loan to Indian Railways amounting to Rs.2000 crores is to be released today. This is a part of the overall Rs.1.5 lakh crore loan by LIC to Railways.

09. Infrastructure spending rises: Spending by the Government of India and Public Sector Corporations has increased by 21% and contracts to the tune of Rs.1,65,400 crores being awarded for various projects.

10. Guatemala has a comedian as president: The Central American country Guatemala has elected Jimmy Morales, a TV comedian as its president. He has no political experience at all, but will lead the nation as the citizens voted for him. He identified himself as a nationalist.