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Major News and Events of 05 August 2014

What Happened on 05 August 2014


Repo rate unchanged, SLR reduced by 0.5%

The Reserve Bank of India has kept the repo rate unchanged but it also warned that low monsoon can bring a rise in food prices. It lowered the statutory liquidity ratio (SLR), the amount of money invested in certain specified government securities, by 0.5 per cent. The new SLR will be effective from August 9. The economists were expecting the repo rate to be unchanged and RBI kept it same at 8 per cent. 

Protestors want CSAT scrapped

The government has declared that the marks for the comprehension section of English language will not be included in the final merit list, but it will retain the civil services aptitude test (CSAT)  format. It also announced that the aspirants who have given the prelims in the year 2011 will be permitted to attempt again in 2015. But, the protestors are firm in their demands to scrap the CSAT which was introduced in 2011.

India Navy Chief to visit Canada

Indian Navy Chief Robin Dhowan will tour Canada for four days in order to nurture and improve ties between the marine forces of the two nations. As per reports, he is visiting Canada as he was invited by the commander of the Royal Canadian Navy (RCN). This is also to reciprocate the visit of RCN commander which he made in January 2013. Dhowan is likely to attend the bilateral meetings with the senior officials of the Canadian Forces. A release by the navy also states that the visit aims to explore better avenues so as to improve cooperation among both forces.

Micromax becomes the largest vendor of handsets in India in Q2

According to a report by the research firm Counterpoint Research, Micromax has become the largest handset vendor in India in the period of April-June. It has captured the market share of 16.6 per cent in this quarter while the Korean major, Samsung has 14.4 per cent  share. The list is followed by Nokia and Karbonn who had 10.9 per cent  and 9.5 per cent  share respectively. Research Director, Devices & Ecosystems at Counterpoint Research says that Micromax is one vendor on which the mobile industry should keep an eye as it has the potential to expand at the international market as well.

India and Seychelles to promote tourism

India and Seychelles have agreed to form a forum of tourism operators and start direct flights between the two countries to promote tourism. As per reports, Shripad Yesso Naik, the Minister of Tourism and Culture and his counterpart from Seychelles, Alain St. Ange have discussed and decided to increase tourism and cooperation among the two nations. It is also reported that both the countries have also agreed to hold road shows and work towards promoting tourist destinations and products.     

Modi thanks host Nepal for welcoming him with open arms

Prime Minister Narendra Modi said that foundation for a new relationship between India and Nepal have been laid during his visit. It will not only strengthen their links but will also make them recognise the 21st century’s opportunities and challenges. He thanked Nepal President Ram Baran Yadav, Prime Minister Sushil Koirala and the people of Nepal for the warmth and affection and the grand welcome which he received in the country. He also stated that he will not leave any stone unturned to convert his vision into reality.

Four Indians make it to the list of Tech Czars

Four Indians figure in the Fortune magazine’s list of 20 “extraordinary” technology czars, the people who can analyse data and process big numbers to produce information that has the potential to transform the operations of business. Arun Murthy, co-founder of Hortonworks, Surabhi Gupta, a software engineer at Airbnb, Swatee Singh, Vice President of GMS IM Platforms and Big Data Capabilities at American Express and Vijay Subramanian, Chief Analytics Officer of Rent the Runway, are the names that made it to the Fortune list.

Death toll rises to 134 in Pune landslide

The death toll in the landslide incident involving Malin village of the Pune district of Maharashra has risen to 134 . Additional Collector of Pune, Ganesh Patil said that 134 dead bodies have been recovered so far which include 64 women, 50 men and 20 children. It is reported that around 200 people belonging to the village have been buried under the landslide. Arrangements have been made to cremate the bodies soon. Also, chemicals are being sprayed in the area so as to prevent eruption of any disease.

UP BJP chief to meet Meerut gang-rape victim's family

As the tension has gripped Meerut after the alleged gang-rape and religious conversion of a 20-year-old madrasa teacher,  BJP state president Laxmi Kant Bajpai is scheduled to meet the family of the gang-rape victim. It is reported that he may be accompanied by the regional leaders from his party which also include Sangeet Som, who was charged in relation to the Muzaffarnagar riots. Vijay Bahadur, BJP spokesperson said that the incidents of rapes, forced conversion and selling of girls are matters of grave concern. 




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