Current Affairs, News & Facts of 27 Jul 2015

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  • Sebastian Vettel wins Hungarian Grand Prix 2015

     

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    • Ferrari’s driver Sebastian Vettel of Germany won the 2015 Hungarian Grand Prix of Formula One (F1).
    • Sebastian Vettel is a four-time world champion it was his 41st career win and first since the Malaysian GP in the second race of this season.
    • Vettel dedicated his win to Jules Bianchi, the French driver who died last week at the age of 25 from injuries sustained in a head-on crash at the Japanese GP last October.
    • A minute’s silence was held in honor of Bianchi before the race, with drivers forming a ring and placing their race helmets on the ground.

    Top ten drivers of  Hungarian Grand Prix 2015

    1. Sebastian Vettel (Germany) Ferrari 
    2. Daniil Kvyat (Russia) RedBull - Renault 
    3. Daniel Ricciardo (Australia) RedBull - Renault  
    4. Max Verstappen (Netherlands) Toro Rosso - Renault 
    5. Fernando Alonso (Spain) McLaren 
    6. Lewis Hamilton (Britain) Mercedes  
    7. Romain Grosjean (France) Lotus - Mercedes  
    8. Nico Rosberg (Germany) Mercedes 
    9. Jenson Button (Britain) McLaren  
    10. Marcus Ericsson (Sweden) Sauber - Ferrari

    Top five teams of Hungarian Grand Prix 2015

    1. Ferrari
    2. Red Bull 
    3. Toro Rosso
    4. McLaren
    5. Mercedes

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    Image source :motorauthority.com

     

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  • Nestle India’s MD Etienne Benet steps down

     

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    • Nestle India Managing Director Etienne Benet stepped down from his post amidst the ongoing controversy regarding safety of instant noodles Maggi in India.
    • Suresh Narayan, who is currently the Chairman and CEO of Nestle Philippines will replace  Etienne Benet while Benet will be relocated to Nestle's head office in Switzerland
    • Suresh Narayanan is a graduate of the Delhi School of Economics, and has been associated with Nestle since 1999 between 2005 and 2008, he headed Nestle's South Asia sales department and was market head for Nestle's North-East Africa Region.
    • Maggi noodles were banned by India's food regulator on June 5 after an allegedly high amount of lead and monosodium glutamate (MSG) were found in a sample but it should be noted that a host of other countries, including Britain, Singapore and Canada, found Maggi noodles that were imported there from India to be safe.

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  • China launches two satellites for it's domestic satellite navigation system named  "Beidou"

     

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    • China launched two new satellites into space as it builds a domestic satellite navigation system named  "Beidou, or Compass" rivalling US's Global Positioning System
    • The satellites, designated BDS (short for BeiDou Navigation Satellite System) M1-S and M2-S were put into a medium-Earth orbit (MEO) about 13,700 miles (22,048 km) above Earth
    • The two satellites launched Saturday are the 18th and 19th of the BeiDou system and the 2nd and 3rd for the third phase (BeiDou-3) of the network.

     BeiDou Navigation Satellite System 

    • BeiDou Navigation Satellite System is a Chinese satellite navigation system. Beidou has been named after the Chinese term for the plough or Big Dipper constellation
    • It consists of two separate satellite constellations of total 35 satellites which are limited test system (operational since 2000) and a full-scale global navigation system which is currently under construction.
    • With Beidou Navigation Satellite System China joins the  league of elite nation having their own Navigational system that are US's GPS, Russia's GLONASS and European Union's Galileo.
    • BeiDou provides global coverage with positioning, navigation, and timing services, including two kinds of service modes: an open service and an authorized service.

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  • Cyient acquires Singapore based Global Services Engineering from Pratt & Whitney

     

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    • Hyderabad based Cyient Limited which provides engineering, data analytics, networks and operations solutions has acquired Singapore-based Global Services Engineering Asia from Pratt & Whitney Services Pte Ltd.
    • Pratt & Whitney, a United Technologies company has a global network of engine service facilities and broad portfolio of service solutions it  has 20 maintenance, repair and operation (MRO) locations worldwide. The Singapore site provides repairs, development and validation for aero gas turbine engine components in support of Pratt & Whitney throughout the region.
    • Through the acquisition Cyient Limited intends to expand its aerospace service in Asia-Pacific region as Cyient has built a strong presence over the years in mechanical and manufacturing engineering, specifically in aerospace engineering, as well as software, systems and electronics
    • Cyient Asia Pacific is headquartered in Melbourne, Australia

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  • Anand Krishnamurthy appointed CEO & MD of CSB bank

     

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    • Anand Krishnamurthy has been appointed as managing director and chief executive officer (MD&CEO) of  Catholic Syrian Bank Limited
    • Krishnamurthy has about 22 years of experience in the field of banking as previously he was working with HSBC 
    • Krishnamurthy has been associated with Catholic Syrian Bank  Limited (CSB) for the past one year prior to this he was responsible for corporate banking, SME business and the integrated treasury operations of the Bank as its Head of Wholesale Banking and Treasury.
    • Anand Krishnamurthy replaced Rakesh Bhatia who had quit earlier this year for some personal reason after which the board of directors had sent a list of three names to Reserve Bank of India out of which Krishnamurthy was the first choice.
    • The Catholic Syrian Bank  Limited (CSB) is one of the oldest private sector banks in India with a history of over 94 years, and a strong base in Kerala along with significant presence in Tamil Nadu, Karnataka and Maharashtra. 
    • Anand Krishnamurthy holds a bachelor's degree in technology (mechanical engineering) from IIT, Chennai and a post graduate diploma in management from IIM, Kolkata. 

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  • Former Union Minister Bijoy Handique passes away

     

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    • Former Union Minister and a six-time Lok Sabha member from Assam, Bijoy Krishna Handique passed away at the age of 82. He was the veteran leader of Indian National Congress from the Northeast state of Assam.
    • Handique was first elected to Lok Sabha from Jorhat in 1991 and continued winning in six successive elections. 
    • Handique has earlier served as a Rajya Sabha member from 1980 to 1986 and as minister of state for defence and parliamentary affairs (2004-2007), chemicals and fertilizers (2006-2009).
    • Handique has also served as minister of state first for mines and later for development of Northeastern region from 2009 to 2011 in the UPA governments under Manmohan Singh. 

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    Image source : indianexpress

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  • Indian Women Wrestling Team Bags Silver In Kazakhstan Presidential Cup

     

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    The Indian women’s wrestling team finished second in the fifth Senior International Wrestling Tournament which is also known as Cup of the President of Republic of Kazakhstan in Astana.

    Eight-member team of Indian women’s wrestling team  bagged silver medal in the event that was held in Kazakhstan’s capital Astana.Vinesh (48kg), Lalita Sehrawat (55kg) and Anita (63kg) of the team performed splendidly in their respective categories

    The team received a prize money of USD 10,000 along with a trophy and medals for its effort while host country Kazakhstan bagged the top spot, by defeating Mangolia which settled for the third position

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    Image source:zee news

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  • BEL wins Dun and Bradstreet award

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    Navratna Defence PSU Bharat Electronics Ltd (BEL) has bagged the Dun & Bradstreet’s ‘India’s Top PSUs Awards 2015 in the electrical and electronic equipment sector.

    Dun & Bradstreet award was received by Chairman and Managing Director of BEL Mr. S K Sharma along with Anandi Ramalingam the General Manager-National Marketing for BEL. 

    The Dun & Bradstreet ‘India’s Top PSUs Awards are an acknowledgement for the critical role that the PSUs play in the development of the Indian economy.

    BEL has been at the forefront in providing critical communication, night vision, electronic warfare and radar systems to the Indian Defence services ever since its inception post Independence in 1954.

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  • IDFC Gets RBI Nod to Start Banking Operations in India

     

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    • Infrastructure financing firm IDFC Ltd has been granted banking licence by RBI for undertaking banking business in the country 
    • The licence for undertaking banking business in the country has been granted under Section 22(1) of the Banking Regulation Act, 1949.
    • IDFC and Bandhan Financial Services Pvt Ltd emerged successful out of 25 contenders for new bank licences issued by the RBI in April last year.Yes Bank was the last bank to be set up, in 2004.
    • IDFC Bank plans to start operation from October 1 with an initial loan book of around Rs 55,000 crore. The bank proposes to start operations with 20 branches. 
    • According to the guidelines all new banks are to be set up through a non-operative financial holding company 
    • IDFC Bank was established as a public limited company to carry out business of banking pursuant to approval granted by the Reserve Bank in April 2014 

    About IDFC :-

    • Infrastructure Development Finance Company Ltd was incorporated on January 30, 1997  as a public limited company with their registered office at Chennai
    • IDFC was incorporated as specialized financial intermediary for funding infrastructure projects
    • Vinod Rai, ex CAG, is chosen as an independent director of IDFC

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