1. RBI extends deadline for exchanging pre-2005 currency notes till December 2015
- i. The Reserve Bank of India (RBI) has extended the date to exchange pre-2005 bank notes till December 31, 2015 for third time.
- ii. RBI had set the last date for public to exchange these notes as June 30, 2015. RBI has urged people to deposit the old design notes in the bank accounts or exchange them at a bank branch.
- iii. pre-2005 notes have fewer security features as compared to 2005 and post-2005 currency notes. It will also remove fake currency notes in circulation which were being pumped in Indian economy were copies of pre-2005 notes.
- iv. The spillover effect of the RBI’s decision will be to flush out black money. Money has value only as long as it is a medium of exchange and store of value.
- v. A disincentive for cash hoarders – With the RBI’s announcement, currency hoarders will be left with no option but to liquidate their unaccounted holdings by spending or exchanging them.
2. Exim Bank lends $268 million to Tanzania to extend water pipeline
- i. Export-Import (Exim) Bank has extended a line of credit of $268.35 million to Tanzania for financing extension of Lake Victoria pipeline.
- ii. With this agreement, Exim Bank has now in place 198 LOCs, covering 63 countries in Africa, Asia, Latin America, Europe, Oceania and the CIS, with credit commitments of over $12.10 billion, available for financing exports from India.
- iii. Till date, the bank has sanctioned an aggregate amount of $2.33 billion for 19 projects valued $3.75 billion under the BC-NEIA.
|Daily Current Affairs Update of 26 June 2015|
3. India, US ink pacts to enhance cooperation in health sector
- i. India and United States have signed a series of agreements on health in order to enhance cooperation in health sector. The multiple areas covered under such agreement include cancer research, medical infrastructure development and application of new diagnostic technologies.
- ii. MoU on cancer research, control, prevention and management: To develop collaborative research projects on population-based cancer control and implementation science.
- iii. MoU on collaboration in Environmental, occupational Health and Injury Prevention and Control: Further enhance cooperation in the fields of environmental and occupational health along with injury prevention and control research.
- iv. Set up mechanism of antimicrobial resistance which also include the applications of systems biology.
4. Ericsson appoints Paolo Colella as new head of region India
- i. Ericsson has announced the appointment of Paolo Colella as new Head of Region India. In this new role, Paolo will also take a seat on Ericsson’s Global Leadership Team, reporting to the Chairman of Region India and Senior Vice President Asia-Pacific, Mats H Olsson.
- ii. Chris has successfully managed Ericsson’s operations in India during his two year stint in the country and enabled the India operations to grow into the largest employee base for Ericsson in the world.
- iii. Paolo Colella, who assumes his new role effective September 1, 2015, has been responsible for Ericsson’s Consulting and Systems Integration practice globally for around six years.
5. Union Government exempts educational institutions from prior green nod
- i. Union Government has exempted builders from obtaining prior green nod for construction of Universities, School, College and Hostel facilities.
- ii. In this regard Union Ministry of Environment, Forests and Climate Change (MoEFCC) has issued a circular to exempt green nod for educational institutions provided they should follow sustainable environment practises of construction.
- iii. Besides, educational institutes MoEFCC has exempted builders from obtaining prior green nod for construction of industrial sheds. It also exempts godowns and buildings which are connected with production related and other associated activities of the unit in the same premise.
- iv. in this circular MoEFCC had clarified that prior environment clearance is mandatorily required for construction of Medical Universities and institutes having hospital facilities.
6. Mobile tower set up at 16,000 feet in Ladakh
- i. State-run BSNL, with the Army's assistance, today operationalised a mobile tower at an altitude of 16,000 feet in Eastern Ladakh region of Jammu and Kashmir.
- ii. The mobile tower at Chongtash has been established with assistance from the Indian Army's Trishul Signallers in terms of transportation, setting up and rearward connectivity.
7. NCR to have a second airport; Aviation ministry makes Jewar as first choice
- i. The civil aviation ministry on Thursday took an in-principle decision to have a second airport in the National Capital Region (NCR). Among the probable sites for the airport, the ministry zeroed in on Jewar, keeping in view the fact that availability of land is a big problem.
- ii. On the UP government’s choice of having an airport in Firozabad, the minister said the purpose of a second airport near Delhi would be defeated if an airport comes up in Firozabad.
- iii. With the population of NCR (National Capital Region) 8 crore, covering Delhi, Gurgaon, Faridabad and Meerut in western Uttar Pradesh, using only one airport, there is an urgent need for a second airport.
8. Satnam Singh Bhamara: All about India's first NBA player
- i. Satnam Singh Bhamara, the first Indian-born player to be drafted in the NBA League, was introduced to basketball by his father, who is a farmer.
- ii. Picked by the Dallas Mavericks in the 2015 NBA Draft, Singh has made history. But, there's a long way to go.
- iii. Born in Ballo Ke, a village in Punjab where there are no basketball courts and no cable television, he started playing the game at an early age. At the age of 12, he was sent to the government-funded Ludhiana Basketball Academy, where he spent two years away from home studying and training and honing his basketball skills.
- iv. In 2010, at age 14, Singh was one of 29 Indian athletes in three sports who moved to the United States to get trained at the renowned IMG Academy in Bradenton, Florida, as part of a new scholarship programme to promote, develop, and manage sports and entertainment in India.