Following are May 25th 2015 Current Affairs
Government clears 21 FDI Proposals worth 281 crores
- Foreign deals worth 281 crores of 21 Foreign Direct Investment or FDI's have been cleared by the government, but deferred.
- Kotak Mahindra Bank to hike the Foreign investment in the bank to 55%.
- FDI proposals under approval route are cleared by Foreign Investment Promotion Board FIPB. But these proposals involving more than 3000 crores are cleared by CCEA or Cabinet Committee On Economic Affairs.
- The proposal of pharma firm La Renon Healthcare in investing 100 crores in Brownfield project was cleared by the FIPB in meeting on April 30th 2015.
China sets up largest gold sector fund for nations along ancient silk board
- During ongoing forum on trade and investment, in China's northwest Xian city, gold sector fund for 65 nations along the ancient silk board had been set up.
- The fund will be lead by Shanghai Gold Exchange[SGE] and 16.1 billion dollars in 3 phases is expected to be raised.
- It is expected that around 60 countries which fall along the routes of 21st Century Maritime Silk Road or MSR and Silk Road Economic Belt have invested in the fund.
Sunil D'Souza : New MD of Whirlpool India
- Home appliances giant Whirlpool has appointed Sunil D'Souza as the MD of its India operations.
- He will join as the MD on June 22. Earlier he had been working with PepsiCo for 15 long years, which includes holding various managerial posts in Malaysia, Vietnam, India and the Philippines.
- Arvind Uppal – President( Asia Pacific ) at Whirlpool and Chairman, Whirlpool India.
New Indian Ambassador to Iran – Saurabh Kumar
- 989 batch IFS officer Mr Saurabh kumar, was appointed as the next Indian Ambassador to the country of Iran.
- He is at present posted as Joint Secretary in National Security Council Secretariat.
Banking & Finance
Banks union and Indian banks association sign 10th bipartite wage increment agreement
- United Forum Banks Union (UFBU) & Indian Banks Association (IBA) on Monday, 25th May, signed the tenth bipartite wage agreement in Mumbai, which will effectually put an extra burden of RS 4725 Cr and if superannuation is included, RS 8370 Cr.
- UFBU was represented by nine bank unions, which covers 25 PSBs, 11 private banks and 7 foreign banks. With this the employees will receive an increase of 15% salary, which will be calculated on the total payslip component that includes Basic, DA, House rent
- The deal, which will affect some 5 lakh workmen and 3 lakh officers, will be effective retrospectively from Nov 2012, when the 9th agreement expired.
Transaction using Voice recognition : A new feat for ICICI bank
- ICICI bank has launched a voice recognition service,which authenticates customers based on their speech pattern and allows bank transactions through banks call centre.
- This will cover over 33 million savings bank and debit&credit card holders.
- This is a first-of-its-kind service, and with this customers are no longer required to enter their card numbers, PIN and answer security questions to authenticate. Because with technology at place, the voice will act as their password.
Western Union Money Transfer renews 14 year old pact with India Post :
- Western Union, the American global money transfer major, has renewed its 14 year old partnership with India Post which means 10,000 post offices across India will continue to serve as Western Union agents. The tenure of the contract is undisclosed.
- Globally western union has tie ups withover 100 postal organisations round the world, with a network of 1.11 lakh agents in India of which 9942 are post offices.
- India Post is among the 41 entities who are in the run to become payment banks.
- Department of Posts, Director General :Padmini Gopinath
- Western Union, Chairman :Jack M. Greenberg.
Monaco grand prix,2015 : Nico Rosberg emerges winner
- Mercedesdriver Nico Rosberg came out as the winner of Monaco GP which is his 10th overall win and second of this season, first being the Spanish F1 world championship. With this he became only the 4th person in history to win three Monaco GP in a row. Others are : Ayrton Senna, Graham Hill and Alain Prost.
- Sebastian Vettel( Germany ) of Ferrari and Lewis Hamilton( U.K. ) of Mercedes were 2nd and 3rd respectively. Force India's Sergio Perez and Nico Hulkenburg finished 7th and 8th respectively.
- Mercedes gaffe: After Max Verstappen's crash, Mercedes decided to call Hamilton for a stop to change tyres when Rosberg and Vettel crossed past him.
Actress- Comedian Anne Meara dies aged 85
- American actress and comedian Anne Meara aged 85, breathed her last on 23rd May 2015 in Manhattan,New York City,USA.
- She was famous for her opposites-attract comedy routine with her husband Jerry stiller.
- Meara started her career in so called summer stock theatre and in 1954 she joined the cast of NBC soap pera " Greatest gift".
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