Current Affairs 5th August 2016

National News:

• The Cabinet approved the terms and conditions for the transfer of 12 acres of land belonging to National Textile Corporation to the Maharashtra government for the construction of a memorial of B.R. Ambedkar
• The Centre today said all the villages in the country will be electrified during the current year except few villages in naxal affected area
• Union Cabinet has approved Motor Vehicle (Amendment) Bill 2016 to improve road safety in the country
• The Gujarat high court has quashed the state government’s notification granting 10 percent reservation for the economically backward classes-EBCs
• The Finance Minister, Shri Arun Jaitley will inaugurate the 2nd edition of India International Footwear Fair (IIFF) – the premier specialised B2B event of the India Trade Promotion Organisation (ITPO) and Confederation of Indian Footwear Industries (CIFI) on August 5, 2016 at Pragati Maidan, New Delhi
• The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval for signing of new Air Services Agreement (ASA) between India and Lao People’s Democratic Republic (Lao PDR)
• The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi has authorized National Highways Authority of India (NHAI) to monetize public funded National Highway (NH) projects which are operational and are generating toll revenues for at least two years after the Commercial Operations Date (COD) through the Toll Operate Transfer (TOT) Model

International News :

• World Economic Forum (WEF), will host its annual India Economic Summit here on October 6-7 which would be attended by over 500 business and political leaders including top policymakers and CEOs
• Vietnam has assured that it will support India’s candidature for a permanent seat at the UN Security Council (UNSC)
• Austria’s Chancellor Christian Kern has called on the European Union to end membership talks with Turkey in the wake of a massive government crackdown following a failed coup

New Appointments :

• Sudhanshu Mani has been appointed as General Manager, Integral Coach Factory. Prior to this, he was Chief Mechanical Engineer, Rail Wheel Factory, Yelahanka Bengaluru

Banking :

• RBI launches ‘Sachet’ portal to rein in illegal money deposits
• State Bank of India, the country’s largest lender, will offer overdraft and loan facilities to nearly seven lakh account-holders who have enrolled with it through the Pradhan Mantri Jan Dhan Yojna (PMJDY)
• Reserve Bank today imposed penalty on two cooperative banks in Chhattisgarh under the Banking Regulation Act, 1949

Business & Economy:

• Amazon.in has launched an urban fulfilment centre in Chennai to support prime deliveries and enable faster order fulfilment in the upcoming festive season.

Awards & Honours :

• Singer Shubha Mudgal will be awarded the Rajiv Gandhi National Sadbhavana Award for her outstanding contribution towards the promotion of communal harmony, peace and goodwill.

Sports:

• Less than Twenty four hours remain for the 31st Summer Olympic Games which are set to begin in the Brazilian city of Rio de Janiero
• The second Test match between India and the West Indies ended in a draw as Roston Chase hit his maiden Test hundred to lead the host fightback in Jamaica
• The International Olympic Committee (ioc) today agreed to add baseball/softball, karate, skateboard, sports climbing and surfing to the sports programme for the Olympic games Tokyo 2020