Current Affairs week 35Pdf.

23-29 August

Banking
Bandhan Bank
The new bank in India, rolled out its
services in on 23 August 2015.
To Know: Bandhan Bank had recently
received its universal banking licence a
year after getting a provisional licence
from the Reserve Bank of India (RBI) in
April last year along with IDFC. Union
Finance Minister ArunJaitley inaugurated the bank at a ceremony held at
Kolkatas Science City Auditorium. Bandhan Bank started its operations with a
bang with 501 branches spread across 22 states in the country. Bandhan
Bank is the part of the Bandhan Financial Services (BFS), Indias largest
micro finance institution (MFI), which started its journey in 2001 when
Chandra SekharGhosh quit his job to set up an institution through which he
hoped to help the poor.

ICICI Banks Extraa Home Loan

The private-sector bank on 26 August 2015 launched Indias first
home loan backed by mortgage guarantee.

To Know: ICICI Bank launched countrys first-ever mortgage

guarantee-backed home loan named Extraa Home Loan. This
home loan product allows consumers to increase borrowing by
5-20% and the tenure up to 67 years of age. Typically, banks do
not allow home loan tenures beyond 60 years of age. This loan scheme can
help in meeting the shortfall in loan for a fee if there is a difference in the
amount needed by customer and the amount sanctioned by the bank. Main
benefit of this product will be that the customers can opt for higher loan
amount or longer tenure while keeping the EMI same. Since the risk for the
additional home loan would be borne by India Mortgage Guarantee
Corporation (IMGC), it would not impact the banks books.

YES Bank
The Till opening of Bandhan Bank on 23 August 2015, Yes
Bank was the last entrant into Indias banking sector.
To Know: Yes Bank, which started its operations in 2004, was
the last entrant in Indias banking sector till Bandhan Bank,
which went into operations on 23 August. Yes Bank is presently
the fifth-largest private sector bank in India after ICICI Bank, HDFC
Bank, Axis Bank and Kotak Mahindra Bank.

Government- Policy
Three Wings of Niti Aayog
During August 2015 the Union Govt. notified the
complete structure of the NITI Aayog, almost 8 months
after it was constituted to replace the Planning
Commission. According to this notification NITI Aayog
will have how many key wings? Three
To Know: As per the official order dated 14 August
2015, NITI Aayog would have three key wings called the
Team India Hub, the Knowledge and Innovation Hub and
the Flexi Pool. The said three wings will be under the Chief Executive of NITI
Aayog. As per the order the total number of posts for Team India Hub,
Knowledge and Innovation Hub and Flexi Pool shall be 146, 173 and 98
respectively.

India Energy Security Scenarios IESS 2047

The interactive energy scenario building tool that was launched by the NITI
Aayog on 27 August 2015 that aims to explore a range of potential future
energy scenarios for India.
To Know: The tool aims to explore a range of potential future energy
scenarios for India, for diverse energy demand and supply sectors leading up
to 2047. It explores Indias possible energy scenarios across energy supply
sectors such as solar, wind, bio fuels, oil, gas, coal and nuclear and energy
demand sectors such as transport, industry, agriculture, cooking and lighting
appliances.

India Demography
The Religious Census data:
The Union Government on 25 August 2015 released the religious census data
of 2011.
To Know:
Total population of the country stood at 121.09 crore in 2011
Hindus constitute

79.8% (96.63 crore) of the population

Muslims constitute

14.2% (17.22 crore) of the population

Christians constitute 2.3%

(2.78 crore) of the population

Sikhs constitute

1.7%

(2.08 crore) of the population

Buddhists constitute

0.7%

(0.84 crore) of the population

Jains constitute

0.4%

(0.45 crore) of the population

The proportion of Hindu population to total population declined by 0.7

percentage point (PP)
The proportion of Muslim population to total population increased by
0.8 PP
The share of Hindus in the population has slipped below 80% for the
first time
Muslims are the only community to register a growth in their share of
the population
The growth rate of Muslims is the highest at 24.6%. Hindus follow with
a 16.8 per cent growth rate; Christians come next with 15.5 per cent.
The growth rates of Sikhs, Buddhists and Jains are less than 10 per
cent.
However, the rate of increase for Muslim community has reduced from
the previous decade, when the Muslim share in the population had
increased by 1.73%
Christians are the only community (among major religions) in India that
has more women members than men

Insurance
The institute celebrated Diamond Jubilee (60 years) of its foundation
TO Know: The Insurance Institute of India (III) is an insurance
education society of professionals established in 1955 in Mumbai for
the purpose of imparting insurance education to persons engaged or
interested in insurance. It is the topmost professional institute in India
devoted solely to insurance-related education. III observed its
60th anniversary (Diamond Jubilee) on 26 August 2015. III was
formerly known as the J.C. Setalvad Memorial Federation of Insurance
Institutes. In the last 60 years, the Institute has grown into a professional body
serving the cause of the Insurance Industry by promoting insurance studies,
conducting examinations and undertaking research.

Market and Industry

SENSEX biggest crash
Slowdown of Chinese economy and devaluation of Chinese currency Yuan
Owning to poor performance of Chinese economy Major financial markets of
the world, including India, witnessed a huge decline on 24 August 2015. The
BSE Sensex closed the day at 25,741.56, down 1,624.51 points.
To Know: The woes associated with Chinese economy hit the global financial
markets. Global markets crashed on 24 August following weeks of reports
regarding Chinas low economic growth as its consumption story further
faltered. This was in addition to other irritants such as Europes woes and a
general slowdown in economies across the globe. In Indian capital markets,
the loss suffered by the 10 biggest companies in terms of market
capitalisation was itself close to Rs. 2 lakh crore. This fall was the biggest
since 21 January 2008 when the Sensex crashed by 2,062.2 points. On the
other hand Indian rupee went down to 66.49, plunging a whopping 66 paise,
which was their lowest level in nearly two years.

Sports
Indian Womens Hockey Team in Olympics
Indian womens hockey team created history as it made
its return to the Olympics after a long gap of 36 years.
This became possible as it qualified for next years Rio
(Brazil) Olympics on 28 August 2015.
To Know: Indian womens hockey team qualified for
2016 Rio Olympics as England made it to the final of the
ongoing Euro Hockey Championships in London.
Englands semi-final victory over Spain on 28 August, coming after the
Netherlands win over Germany in the other semi-final in the European
Championships freed one quota place as both the finalists have already
qualified for the Olympic Games. India took the quota place on the basis of its
fifth-place finish in the womens Hockey World League Semi-finals in Antwerp,
Belgium last month. Indian womens team now join nine other teams, who
have already qualified for 2016 Rio Games Korea as Asian Games
champions, Argentina as Pan Am Games champions and Great Britain,
China, Germany, Netherlands, Australia, New Zealand and the USA through
the Hockey World League Semi-Finals. Indian womens hockey team last
featured in an Olympics in the 1980 Moscow Games, where they finished at a
respectable fourth position.

PUNE (Maharastra)
For the first time in the history of weightlifting, an
individual international tournament will be organised in
India. The country will host the Commonwealth Youth,
Junior and Senior Weightlifting Championships at
PUNE.
To Know: Pune (Maharashtra) will host the
Commonwealth Youth, Junior and Senior Weightlifting
Championships. The championships will be held from
11 to 15 October 2015. This would, thus, be the first
time the country will host an individual international weightlifting tournament.

Sports Award: Rajiv Gandhi KhelRatna

Sania Mirza was conferred the Rajiv Gandhi Khel Ratna award at
the Rashtrapati Bhawan on 29 August 2015. Along with her, 16
sportspersons and five coaches were also honoured with
National Sports Awards on this occasion. With this Sania Mirza
became the Second tennis player to get the Rajiv Gandhi Khel
Ratna.
To Know: The Rajiv Gandhi KhelRatna was instituted in 1991-92 as the
highest award for sportsperson in India. With Sania Mirza being conferred
with it, as many as 28 sportsmen have been awarded this prestigious award
till date. It was first conferred on Vishwanathan Anand, the former Chess
world champion, in 1992. Sania Mirza also became the second tennis player
after Leander Paes to win the award.
List of all awardees:
Rajiv Gandhi KhelRatna Award: SaniaMirza (tennis)
Arjuna Award: P.R. Sreejesh (hockey), DipaKarmakar (gymnastics), JituRai
(shooting),
Sandeep
Kumar
(archery),
MandeepJangra
(boxing),
BabitaKumari and Bajrang (wrestling), Rohit Sharma (cricket), K. Srikanth
(badminton), Swarn Singh (rowing), S. Satish Kumar (weightlifting), Sanothoi
Devi (wushu), SharathGayakwad (para-swimming), M.R. Poovamma
(athletics), ManjeetChillar, AbhilashaMhatre (kabaddi), Anup Kumar Yama
(rollerskating).
Dronacharya Award: Naval Singh (para-athletics), Anoop Singh (wrestling),
Harbans Singh (athletics-lifetime), Swatantar Raj Singh (boxing-lifetime),
NiharAmeen (swimming-lifetime).
Dhyan Chand Award: Romeo James (hockey), Shiv PrakashMisra (tennis),
T.P.P. Nair (volleyball).
Tenzing Norgay National Adventure Awards 2014: ArunimaSinha (land),
Jot Singh (land), Paramvir Singh (water), SatyendraVerma (air),
SatishChander Sharma (lifetime).
MaulanaAbulKalam Azad Trophy: Punjabi University, Patiala.
RashtriyaKhelProtsahanPuraskar: Directorate-General of Military Training
(identification and nurturing of budding/young talent), Coal India Limited
(encouragement of sports through corporate social responsibility), Haryana
Police (employment of sportspersons and sports welfare measures), Sports
Coaching Foundation, Hyderabad (sports for development).

Usain Bolt
Usain Bolt of Jamaica produced one of his greatest
races ever to retain the world 100m title at IAAF
World Championships, Beijings Nest Stadium on 23
August 2015. He thus defeated the clear favourite
Justin Gatlin (US) by one hundredth of a second.
To Know: Bolt completed the race in 9.79
seconds,Gatlin finished the race in 9.80 seconds.
Canadas Andre de Grasse and young American TrayvonBromell were both
awarded bronzes in 9.92 seconds. With this run Bolt also put a troubled buildup behind him to beat two-time doper Justin Gatlin. It is worth mentioning that
Gatlin had ran incredible heats and semi-final races to build-up a showdown
final with Bolt as he was seemingly looking out of sorts.

India States Smart Cities

Uttar Pradesh
Indian state which has been allocated highest number of 13 cities in this
coveted list. On 27 August 2015 announced the list of 98 cities and towns
selected under Smart Cities Mission.
To Know: Uttar Pradesh has the highest number of allocated cities (13) in the
Smart Cities Mission as announced on 27 August 2015 by M. Venkaiah
Naidu, the Union Minister of Urban development. However, only 12 cities
have been shortlisted from Uttar Pradesh against 13 cities allocated to the
state and one city will be nominated later for which there is a tussle between
Meerut and Raibareilly. Tamil Nadu has been allocated 12 cities, followed by
10 from Maharashtra and 7 from Madhya Pradesh. Centre has
earmarked Rs. 48,000 crore for development of 100 smart cities. All Union
Territories, including Delhi, have found place in the list. Prime
Minister Narendra Modi had launched the criteria and guidelines for 100 smart
cities to be selected through city challenge competition on 25 June 2015. In
the first phase, Centre has picked 20 cities and in the next two years 40 cities
each will be selected for receiving Central funding of Rs. 500 crore spread
over the next five years. Each smart city will get a Central assistance of Rs.
100 crore per year for five years.

Personality
MM Kalburgi SahityaAkademi
The renowned Kannada writer who was shot dead was winner of the
SahityaAkademiaward.
To Know:M. M. Kalburgi was a noted Kannada epigraphist and a
renowned scholar of the Vachana literature. He was awarded the
SahityaAkademi, New Delhi, Karnataka State SahityaAkademi,
Nrupatunga Award and the Pampa Award among others. He was also a
former vice-chancellor of Kannada University. He was shot dead for unknown
reasons by two assailants in Dharwad on 30 August.

Rani Gaidinliu - Nagaland

The birth centenary celebration of Rani Gaidinliu of
Nagaland, was inaugurated by Prime Minister
NarendraModi, on this occasion a commemorative
coin was released to recall Ranis contribution to
Indias freedom struggle.
To Know: Rani Gaidinliu (1915-1993) was a
prominent political leader of Nagaland who led a famous revolt against the
British. She was part of the Heraka religious movement that ultimately turned
into a political movement seeking to drive out the British from Manipur and the
surrounding Naga regions. She was arrested by the British in 1932 at the age
of 17 and remained in various prisons till her release in 1947 after Indias
Independence. An advocate of the ancestral Naga religious practices, she
staunchly resisted the conversion of Nagas to Christianity. She died on 17
February 1993 at the age of 78. Because of the Heraka movements hostility
towards Christianity, Gaidinlius heroics were not acknowledged highly among
the Nagas, most of who had converted to Christianity by the 1960s.

Environment
Erika
What is the name of the tropical storm that hit the Caribbean region on 28 and
29 August 2015, affecting numerous countries including Dominican Republic
and Haiti?
To Know: Tropical Storm Erika hit Dominican Republic the most with around
15 inches (38 centimeters) of rainfall recorded in the island country. Dominica
Prime Minister Roosevelt Skerrit claimed that the damage inflicted by the
storm set the country back 20 years. It killed at least 20 people while 31
others were missing. Erika carried enough force to knock out power to more
than 200,000 people in Puerto Rico and cause more than $16 million in
damage to crops there.

Information & Technology

Facebook Milestone: Over a Billion people used Facebook on 24th August.
Social networking site Facebook achieved which milestone figure on
24 August, for which its founder Mark Zuckerberg made an
announcement on 27 August 2015.
To Know: Facebook achieved this milestone for the first time in its
around 11-year existence. According to the announcement made by Mark
Zuckerberg on 26 August The milestone was reached on Monday (24
August), when 1 in 7 people on Earth used Facebook to connect with their
friends and family. It is worth mentioning that Facebook has nearly 1.5 billion
users who log in at least once a month, but this was the most in a single day.
The company gained its billionth user in October 2012. It was founded in 2004
by Zuckerberg while he was a Harvard student.

Foreign Affairs
India fourth country to have hotline with US President.
After Russia, Great Britain and China having a hotline (direct secure
line of communication) with the US President, Indiabecame fourth
country to establish hotline between Indian Prime Minister
NarendraModi and US President Barack Obama. For India this is the
first hotline at the level of head of state.

Space & Research

Supermoon
Important lunar activity was observed on 29 August 2015.
To Know: Supermoon, a term coined by astrologer Richard Nolle

more than 30 years ago, is used to describe a new or full moon

that coincides with the moon reaching its closest point to Earth on
its orbit. According to astronomers, a new or full moon has to come
within 224,834 miles of the Earth to be considered a supermoon. A
supermoon occurs when its a new or full moon, which closely
coincides with perigee the Moons closest point to Earth in its
orbit. On a Supermoon day, the moon typically looks around 14% bigger
than a normal day.
GSAT - 6
Indian Space Research Organisation (ISRO) on 27 August
2015 successfully placed GSAT 6, the communication
satellite in orbit through GSLV D-6 rocket.
To Know: GSAT-6 will provide S-band communication
services in the country. It is aimed at primarily benefiting
the countrys strategic users and other specific authorised
users. The cuboid-shaped satellite with a mission life of
nine years also includes a first-of-its-kind S-Band unfurlable
antenna with a diameter of six metre. This is the largest
antenna ISRO has ever made for a satellite. It was also the
25th home-made communications satellite launched by
ISRO using the Geo-synchronous Satellite Launch Vehicle (GSLV) that uses
an Indian made cryogenic engine being tested for the third time.

Disinvestment
Public Sector - Disinvestment
On 24 August 2015 the government divested 10% of its stake in
Indian Oil Corporation.
To Know: The governments 10% stake sale in Indian Oil
Corporation on 24 August was over-subscribed despite high
market turmoil. The stake sale received bids for over 28.74 crore
shares, representing 1.18 times the 24.28 crore shares on offer.
At the floor price of Rs. 387 apiece, the sale of 24.28 crore shares would fetch
about Rs. 9,300 crore to the exchequer, after considering 5% discount being
offered to retail shareholders. The government has already raised over Rs.
3,300 crore through stake sales in three PSUs (Rural Electrification
Corporation (Rs. 1,610), Power Finance Corporation (Rs. 1,600 crore) and
Dredging Corporation of India (Rs. 145 crore) this fiscal. The government is
targeting to raise Rs. 69,500 crore from disinvestment in the current fiscal.

Life Insurance Corporation (LIC)

The public-sector financial entity salvaged the 10% stake
sale of Indian Oil Corporation (IOC) held on 24 August 2015
by buying as much as 86% shares on the offer.
To Know: LICs purchase of 86% shares in IOCs stake sale
is significant because the day of disinvestment (24 August)
had witnessed Indian share markets biggest tumble in more
than 6 years. With this purchase, LICs stake in IOC rose to 11.11% from
2.52%. LIC, Indias biggest investor, has in the past dug into its pockets to
prop up government sales, buying up state banks and government mining
firms. It heavily supported the sale of Coal India (CIL) in January 2015 and the
disinvestment in SAIL last year. The investments have sometimes proved
fruitful for LIC, with stock in the State Bank of India, which was invested in
January 2014, up more than 60%.

Place
Haji Pir Pass (J&K)
50th anniversary of the 1965 war with Pakistan was observed on 28 August
2015 with the country paying rich tributes to the brave soldiers of the Indian
Union. Exactly 50 years back, on 28 August 1965, India had captured this
strategically important pass from Pakistan.
To Know:On 28 August 1965 a team of soldiers from the 1 st Para, led by the
then Major RanjitDyal, had captured the strategic Haji Pir pass, which lies a
few kilometres beyond the present Line of Control between India and
Pakistan. The capture was part of an offensive strategy planned by the
legendary Lieutenant General Harbaksh Singh, who was then the Western
Army commander. While launching the final assault on the pass on 28
August, the paratroopers had to walk up 4,000 feet on foot.

Madhya Pradesh
To host the worlds largest 750 Mega Watts (MW)
solar power station.
To Know: The worlds largest solar power station of
750 Mega Watts (MW) capacity will be established in
MPs Rewa district, to be spread over 1,500 hectares
area at Bandwar region in Gudh tehsil of Rewa district.
The plant is expected to start generating solar energy by March 2017. The
project, named Rewa Ultra Mega Solar, will be a joint venture of Solar Energy
Corporation of India and MP UrjaVikas Nigam. At present, worlds largest
solar power project Ivanpah Solar Power Facility of 392 MW, is at Mojave
Deserts in California, United States.
Philippines Goni Cyclone
The name of the cyclonic storm that battered Japan on 24 August 2015 with
wind speeds of over 250 km/ hr. after large-scale destruction in the
Philippines.
To Know: Typhoon Goni is the ninth of about 20 storms and typhoons that
are expected to batter the Philippines this year.