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1st June -15 June

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    Former security contractor Edward Snowden won a Norwegian prize for freedom of expression and received yet

    another invitation to leave his exile and receive the award in person. The Norwegian Academy of Literature and

    Freedom of Expression said the 31-year old fugitive had won the Bjornson Prize -- named after a Norwegian

    Nobel literature laureate -- "for his work protecting privacy and for shining a critical light on US surveillance of its

    citizens and others." Snowden, a former analyst at the US National Security Agency, has lived in exile in Russia

    since 2013 after revealing mass spying programmes by the United States and its allies. The US administration has

    branded him a hacker and a traitor who endangered lives by revealing the extent of the NSA spying program.

    Former West Indies paceman Sir Wesley Winfield Hall has been inducted into the ICC Cricket Hall of Fame. He is

    80th cricketer to be inducted in the ICC Cricket Hall of Fame and 18th from West Indies.

    16th edition of the International Indian Film Academy (IIFA) informally known as the Bollywood Oscars,

    was held in Malaysia in June 2015. Haider was awarded the most awards (09). Winners:-

    Best Film:Queen

    Best Director: Rajkumar Hirani PK

    Best Actor in a Leading Role:Shahid Kapoor Haider

    Best Actress in a Leading Role:Kangana Ranaut

    Best Actor in a Supporting Role:Riteish Deshmukh Ek Villain

    Best Actress in a Supporting Role:Tabu Haider

    Male Debutant Star:Tiger Shroff Heropanti

    Female Debutant Star:Kriti Sanon Heropanti

    Best Performance in a Comic Role:Varun Dhawan

    Best Performance in a Negative Role:Kay Kay Menon Haider

    Best Story:Vikas Bahl, Chaitally Parmar, Parveez Shaikh- Queen

    Best Music Direction:2 States Shankar-Ehsaan-Loy

    Best Lyrics:Galliyan from Ek Villain Manoj Muntashir

    Best Male Playback Singer:Ankit Tiwari

    Best Female Playback Singer:Kanika Kapoor

    IIFAAward for Outstanding Achievement in International Cinema:Subhash Ghai

    IIFA Award for Entertainer of the Year:Deepika Padukon

    Prime Minister Narendra Modi received, on behalf of Atal Bihari Vajpayee, Bangladesh's prestigious Liberation

    War Honourfor his "active role" in the country's freedom struggle, saying the BJP veteran was an "inspiration" to

    him and other political workers. The citation of the Award hailed Vajpayee as a "highly respected political leader"

    and recognised his "active role" in support of the Liberation War of Bangladesh.

    Punjab chief minister Parkash Singh Badal was conferred the prestigious 14th Sant Namdev National Award-

    2015for promoting peace, communal harmony and universal brotherhood by the Sarhad foundation.

    AWARDS & HONOURS

    1st June to 15th June

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    Global e-commerce major Amazonopened its biggest fulfilment centre (FC) or warehouse in India, at Kothur in

    Telangana. Spread over 280,000 square feet, the facility has come up in Mahabubnagar district, about 60 km from

    Hyderabad. This has taken to 11 Amazons FCs in eight states.

    Mid-tier FMCG firm Emami Ltd acquired the 'Kesh King' brand of hair and scalp care products from SBS Biotech

    for Rs 1,651 crore, one of the largest deals in the segment in recent times.

    Fortunereleased the 61st edition of list of top 500 companies. The list was topped by retail behemoth Walmart

    with revenue of 485.6 billion US dollar. It was followed by Exxon Mobil, Chevron, Berkshire Hathaway and Apple at

    the 2nd, 3rd, 4th and 5th position respectively. The top five of 2015 list remains unchanged as compared to the

    2014 list. Further, Apple was the most profitable company with profit of 39.5 billion US dollars followed by Exxon

    Mobil.

    Cult bike maker Harley-Davidsontied up with fashion portal Myntra to sell its casual merchandise through an

    exclusive online store. The online store offers a range of casual outerwear, sportswear, denims and accessories.

    Hero MotoCorp Ltd (HMCL), the worlds largest two-wheeler manufacturer, appointed Mr.Pawan Munjal as its

    new Chairman.Under the leadership of Mr. Pawan Munjal, Hero has remained the worlds largest two-wheeler

    manufacturer in terms of unit volumes sold in a calendar year by a single company since 2001 the year he took

    over as the MD & CEO.

    ICICI Bankannounced the appointment of M K Sharma, a former vice chairman of Hindustan Unilever Limited, asthe non-executive chairman for a period of five years, in place of K V Kamath.

    Infosys named R Seshasayee, vice chairman at truck and bus maker Ashok Leyland, as its non-executive

    chairman, replacing KV Kamath, who stepped down to take over as president of the newly created BRICS bank.

    Indias leading private Bank, HDFC Bank announced launch of PayZapp, an all-in-one mobile payment and money

    transfer app that promises to make any sort of payments in a single click. The PayZapp app users can make

    variety of transactions like mobile recharges, instant money transfers, bill payments, shopping on various

    ecommerce portals to groceries, to even big-ticket purchases such as foreign holidays and designer clothes.

    PayZapp features a section called Smartbuy a sort of a aggregator of the major ecommerce sites across various

    verticals. PayZapp has partnered with sites like Flipkart, Makemytrip, Cleartrip, Yatra, Big Basket among others.

    PVR Cinemas, India's biggest multiplex operator controlled by Ajay Bijli, agreed to buy DT Cinemas, a wholly

    owned subsidiary of DLF, for Rs 500 crore to strengthen its position in the movie exhibition business.

    E-commerce marketplace Snapdeal acquired mobility solutions company Letsgomo Labs to improve its mobile

    technology capabilities. Founded by Manav Kamboj and Vikas Banga, Letsgomo Labs helps companies with end to

    end mobility solutions like building mobile strategies, conceptualization of applications and mobile sites,

    implementation and hosting. Mobile is one of the key growth drivers of e-commerce in the country and building a

    robust mobile commerce platform has been a key focus area for Snapdeal.

    BUSINESS & CORPORATE

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    President Pranab Mukherjee re-promulgated for the third time, as per provisions of Article 123 of Indian

    Constitution, the Land Ordinance that prescribes processes for acquisition of land for public projects.

    Union Government gave nod for promulgation of Ordinance to amend Negotiable Instruments Act,

    1881.The ordinance paves way for filing of cheque bounce cases in place where the cheque was issued.

    This move that will benefit around 18 lakh people involved in such cheque bounce cases.

    The Cabinet Committee on Economic Affairs (CCEA) approved two road projects, one in Madhya Pradesh

    and another in Telangana. The projects will be executed under the flagship road building programme

    National Highways Development Project (NHDP) at a cost of Rs 4,721 crore.

    The panel on restructuring of the Indian Railways, headed by Mr. Debroy, submitted its final report. The

    committee has set a five-year timeframe for implementing its recommendations and has suggested doing

    away with the Railway Budget, Improving accountability, decentralising power and setting up an

    independent regulator are the key recommendations.

    The Telangana government unveiled its new industrial policy today which focuses on time-bound

    approvals for setting up projects in the state. As per the new policy Telangana State Industrial Project

    Approval and Self-certification System (TS-iPASS), penal action will be taken against government officials

    if there is any undue delay in processing applications and mega projects would get permissions in 15

    days. The policy prescribed norms for giving permissions to mega (investments of Rs 200 crore and

    above), large (Rs 10 crore-Rs 200 crore) as well as small and medium project proposals. The governmentidentified 14 core areas for a focused approach which include life sciences, pharma, information

    technology, aerospace, automobiles, textiles, minerals and transportation and logistics, among others.

    Ahmadabad Municipal Corporation (AMC) announced USE and GET PAID scheme, under which people will

    be paid one rupees for using public toilets. The announced scheme aims to eradicate the practice of open

    defecation and will help to keep the city clean.

    Union Minister of Water Resources, River Development and Ganga Rejunivetion Uma Bharti launched

    nationwide Jal Kranti Abhiyan from Jaipur, Rajasthan. The aim is to consolidate water conservation and

    management in the country.

    Union Minister of Women and Child Development Maneka Gandhi launched the Indian Academy of

    Pediatrics (IAP) Health Phone programme in Delhi. The programme is the world's largest digital mass

    education programme for addressing malnutrition in women and children. This programme has been

    launched by the Indian Academy of Pediatrics (IAP) in partnership with the Ministry of Women and Child

    Development, UNICEF and supported by Vodafone India. This programme aims to tackle the challenge of

    malnutrition in mothers and children across India.

    BILLS / ACTS / COMMITTEES / SCHEMES / POLICIES

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    The Reserve Bank of India issued new norms for Strategic Debt Conversion (SDR) which will give lenders

    the right to convert their outstanding loans into a majority equity stake if the borrower fails to meet

    conditions stipulated under the restructuring package. Allowing loan conversion will now be a precondition

    for all debt restructuring deals.

    India joined the Multilateral Competent Authority Agreement (MCAA) on Automatic Exchange of Financial

    Account Information (AEOI) on 3rd June, 2015, in Paris, France, alongwith Australia, Canada, Costa Rica,

    Indonesia and New Zealand. With six countries joining the MCAA on 3rd June, 2015, the total number of

    countries/jurisdictions agreeing to exchange information automatically in accordance with MCAA has gone

    to sixty. The new global standards are very wide in scope and oblige the treaty partners to exchange wide

    range of financial information after collecting the same from financial institutions in their

    country/jurisdictions including information about the ultimate controlling persons and beneficial owners of

    entities. AEOI based on CRS, when fully implemented, would enable India to receive information from

    almost every country in the world including offshore financial centres and would be the key to prevent

    international tax evasion and avoidance and would be instrumental in getting information about assets of

    Indians held abroad including through entities in which Indians are beneficial owners. This will help the

    Government to curb tax evasion and deal with the problem of black money.

    Bangladesh has granted permission to Indias state-owned insurance group Life insurance Corporation

    (LIC) to do business in the country.LIC will start its operations in Bangladesh as a joint venture (JV) entity

    to be called LIC Bangladesh Ltd with a paid up capital of one billion Taka. In this JV entity LIC will hold

    half of the amount while the rest would be owed by its Bangladeshi partners. The capital will be raisedfrom the Bangladeshs capital market and local entrepreneurs.

    India slapped anti-dumping duty of up to USD 316 per tonne on imports of certain steel products from

    three countries, including China, to protect domestic producers from below-cost inbound shipments. A

    duty of USD 309 per tonne has been imposed on imports from China, while USD 316 per tonne duty has

    been fixed for Malaysia and USD 180 per tonne for Korea. The duties have been imposed for five years on

    imports of certain variety of hot-rolled flat products of stainless steel used in sectors such as auto.

    Adani Power Limited of India and Reliance Power Limited of India signed separate memorandums of

    understanding with state-run Bangladesh Power Development Board (BPDB). Reliance Power and BPDBtoday signed a MoU to develop four units of power plants to produce 3,000 MW of electricity with a cost of

    $3 billion. Adani Power will set up two, coal-fired plants with a total capacity of 1,600 MW that will cost

    more than $1.5 billion. Bangladesh produces 7,000 MW of electricity but demand far exceeds supply, with

    a daily deficit of up to 1,500 MW.

    The second border haat (market) of Tripura at Kamalasagar in Sipahijala district, bordering Brahmanbaria

    district of Bangladesh, was opened for common people in June 2015. After setting up a border 'haat'

    (market) near the India-Bangladesh international border at Srinagar in South Tripura district on January

    13 this year bordering Madhugram village of Feni district of Bangladesh, another such market at

    Kamalasagar in Sipahijala district, was opened to boost bilateral trade and enhance people to people

    contacts. These markets are set up at the zero line of the international border with one part on the Indian

    side and the other in Bangladesh. Business in the market (haat) would take place once a week among the

    ECONOMY & FINANCE

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    people living within 5km radius of the border who would sell and buy locally produced goods and crops. No

    local taxes would be imposed on the items to be sold in the haats and currencies of both the countries

    would prevail.

    The Reserve Bank allowed non-resident Indians (NRIs) to invest in chit funds on non-repatriation basis

    without any ceiling, a move that will encourage flow of capital into the country. However, the subscription

    to the chit funds should be brought in through normal banking channel, including through an account

    maintained with a bank in India. Earlier in May 2000, non-residents were barred from investing in a

    company or firms engaged in the business of chit fund. Revising the extant guidelines for subscription to

    the chit funds, RBI said: It has been decided to permit NRIs to subscribe to the chit funds, without limit,

    on non-repatriation. It further said the Registrar of Chits or an officer authorised by the State

    Government may permit any chit fund to accept subscription from NRIs on non-repatriation basis.

    Union Cabinet approved an interest-free loan i.e. soft loan to the tune of 6,000 crore rupees to enable

    sugar mills pay arrears to farmers. As per this decision, interest on the loan will not be charged for a year

    but the interest will be borne by the Union government from sugar development fund. The money to be

    paid as arrears to farmers under this loan will be directed credited in Jan Dhan accounts of farmers.

    The United States has overtaken Saudi Arabia as the world's biggest oil producer in 2014 while India has

    recorded the highest growth in energy consumption among major economies. The US produced 15.9%

    more oil in 2014 at 11.6 million barrels of oil per day to topple Saudi Arabia's 11.5 million bpd production,

    according to BP Plc's Statistical Review of World Energy released in June 2015. Russia with 10.8 million

    bpd oil production was placed third.

    Reserve Bank Governor Raghuram Rajan cut the key interest rate by 0.25 per cent, third time this year,

    meeting market and government expectations of boosting growth by lowering borrowing cost. While the

    RBI cut the repo rate from 7.5 per cent to 7.25, it left all other policy tools like cash reserve requirement

    unchanged at 4 per cent and Statutory Liquidity Ratio (SLR) at 21.5 per cent.

    The Reserve Bank of India (RBI) released its final guidelines for 6-year and 13-year cash-settled Interest

    Rate Futures (IRF) on Government of India Securities with residual maturity of 4-8 years and 11-15 years,

    respectively. The present notification amends the Interest Rate Futures (Reserve Bank) Directions, 2013.

    Besides, the RBI has also changed the residual maturity for the existing 10-year cash-settled IRF to 8-11

    years from 9-11 years. This would provide market participants greater choice and flexibility to hedge their

    interest rate risk across different tenors.

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    Prominent scientist Ameenah Gurib-Fakim was sworn as president of Mauritius, becoming the first woman to

    hold the ceremonial position in the Indian Ocean island nation. Gurib-Fakim, 56, is the first female president of the

    island, which gained independence from Britain in 1968 and replaced Britain's Queen Elizabeth II as its head of

    state in 1992. Mauritius is one of the richest -- and least corrupt -- countries in Africa, a middle-income nation of

    some 1.3 million people with a per capita GDP of just over US $9,000 (7,200 euros).

    A month and a half before the end of his term as Director of the Indian Statistical Institute (ISI), scientist Bimal

    Roy, who was conferred Padma Shri earlier this year, has been unceremoniously removed. In an order issued by

    the Ministry of Statistics and Programme Implementation, Dr. Roy has been accused of indiscipline and the

    communication expresses apprehension that he may indulge in acts of administrative and financial impropriety.

    He has been replaced by director-designate Sanghmitra Bandyopadhyay, who was supposed to take charge of the

    institute on August 1.

    Well-known Telugu writer and Sahitya Akademi awardee, Dasaradhi Rangacharyulu,passed away at the age of

    86. He was noted for his simple writings, reflecting the culture and ethos of Telangana, and sharp wit. His writings

    Chillara Devullu (Lesser Deities),Jeevana Yanam (autobiographical lifes journey), Modugu Poolu (fire flowers),

    and a translation of the four Vedas into Telugu, stood out in a long career. A high point of his life was his strident

    opposition of the oppressive rule of the Nizams in the erstwhile Hyderabad State, which landed him in jail. He

    played a significant role in the Telangana armed struggle against Hyderabad State.

    Twitter Inc. announced that its CEO, Dick Costolo,would resign. Jack Dorsey, one of the companys founding

    quadrumvirate and the companys first CEO, will take his old job in an interim role. Some investors have called for

    Costolos resignation for more than a year, calls which became more strident after extremely disappointing

    quarterly results in April. By appointing Dorsey as acting executive, the company seems to be hearkening back to

    the idealism of its early days.

    Hemant Sonawala, one of the founders of the country's IT industry and chairman of Hinditron Group, passed

    away at the age of 78.

    Renowned biochemist Irwin Rose who was awarded 2004 Nobel Prize in Chemistry for discovering molecule

    Ubiquitin passed away at the age of 88.

    K V Chowdary, the former chairman of Central Board of Direct Taxes, was appointed the Central Vigilance

    Commissioner and senior-most information commissioner, Vijai Sharma was named the new Chief Information

    Commissioner. A retired Indian Revenue Service officer, Mr Chowdary had been working as the adviser to the

    Supreme Court-appointed Special Investigation Team, which is probing black money cases. Mr. Sharma, a former

    Environment Secretary, has been working as an Information Commissioner in the Central Information Commission

    since 2012. Both posts had been vacant for months. The issue became politically charged after Congress president

    Sonia Gandhi raised it in the Lok Sabha last month, accusing the Narendra Modi government of undermining the

    posts by keeping them vacant.

    Mahendra Kumar Sharma was appointed as non-executive chairman of Indias largest private sector lender

    Industrial Credit and Investment Corporation of India (ICICI) Bank. He will replace K V Kamath who had resigned

    in order to join as President of the Shanghai based New Development Bank established by the BRICS nations.

    PEOPLE IN NEWS

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    Former bureaucrat Dr. Mahesh N. Buch who was widely regarded as the architect of modern Bhopal, passed

    away at the age of 80. He was known for his clear views in context of urban planning and environment protection

    for betterment of Bhopal and Madhya Pradesh. He received Padma Bhushan in 2011 for his services to the nation.

    The Reserve Bank of India (RBI) appointed Meena Hemchandra as the executive director who would be in

    charge of department of banking supervision. She will also be in charge of department of non-banking supervision

    and department of co-operative banking supervision.

    Nek Chand,creator of the iconic Rock Garden who amazed people for decades with his unique sculptures made

    from waste, died at the age of 90. The Padma Shri awardee, whose 90th birthday was celebrated by the

    Chandigarh Administration and the City residents on December 15, had millions of fans across the globe. Working

    as a roads inspector of the Public Works Department in Punjab from 1951, Nek Chand had quietly built his magical

    kingdom clearing a little forest patch near the famous Sukhna lake to create a small garden. Waste like broken

    crockery, electrical fittings, glass bangles, bathroom tiles, wash basins and bicycle frames were used to make

    mosaic sculptures of men, women, animals and gods. The iconic Rock Garden, inaugurated in 1976, is now spread

    over an area of forty acres and more than 2.5 lakh people from India and abroad visit it every year with the

    annual revenue generated from ticket sales around Rs 1.8 crore. Nek Chands unique art has also been showcased

    in museums abroad, including at the National Childrens Museum in Washington.

    Union Home Ministry appointed Senior IPS Officer RC Tayal as the new Director General (DG) of Indias elite

    counter-terror force National Security Guard (NSG). He succeeds JN Choudhury who had retired on 31 May 2015.

    He will have tenure till August 2016.

    Legendary English actor, singer and writer Sir Christopher Leepassed away in London, at the age of 93. The

    veteran actor was famously known as the master of horror for his famous villainy acting roles in numerous movies

    such as Dracula, The Wicker Man, James Bond, Lord of the Rings trilogy etc.

    Dr. Srivari Chandrasekhar, a senior scientist, was appointed Director of CSIR-Indian Institute of Chemical

    Technology (IICT) a premier research institute of Union Government based in Hyderabad, Telangana.

    Former Director of Intelligence Bureau (DIB) Syed Asif Ibrahimwas appointed as Prime Ministers Special Envoy

    for Counter Terrorism and Extremism in National Security Council (NSC) Secretariat.

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    Barcelona FCwon 2015 Union of European Football Associations (UEFA) Champions League trophy for the fifth

    time after defeating Juventus FC in the finals.

    Cricketer Mahendra Singh Dhoni is the only Indian among Forbesmagazines 100 highest-paid athletes in the

    world. American boxer Floyd Mayweather tops the list, which also includes golfer Tiger Woods, tennis star Roger

    Federer and Portuguese soccer player Cristiano Ronaldo. Dhoni has been ranked 23rd, dropping a notch from his

    ranking of 22 last year. Dhonis total earnings stood at $31 million, including amount from salary/winnings at $4

    million and endorsements worth $27 million. The 33-year old cricketer retired from Test cricket at the end of 2014,

    but remains Indias skipper at the One Day International and T20 levels.

    Indias tennis player Rohan Bopanna along with his Romanian partner Florin Merge a won the ATPs Stuttgart

    Open final doubles trophy in Germany after defeating Austrian-Brazilian pair of Alexander Peya and Bruno Soares.

    President of the Fdration Internationale de Football Association (FIFA) Sepp Blatterresigned amid a corruption

    scandal which is under investigation in United States. Earlier on 30 May 2015, he was re-elected as the FIFA

    President for a fifth term by defeating his rival candidate Prince Ali bins Al Hussein of Jordan.

    Serena Williams of United States won French Open womens single title after defeating Lucie Safarova of

    Czechoslovakia. This was her third French Open title and overall 20th Grand Slam title.

    Stanislas Wawrinkaof Switzerland won his first French Open Mens single title of Tennis. After defeating Novak

    Djokovic of Serbia. It his first his first French Open title and second grand slam title.

    Indias Sundaram Raviwas inducted into the Elite Panel of International Cricket Council (ICC) Umpires for year

    2015-2016.With this appointment, Sundaram Ravi became second Indian umpire after S Venkataraghavan to be

    inducted into the ICCs elite panel. S Venkataraghavan was inducted in this panel in 2004.

    SPORTS

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    World

    The World Day against Child Labour was observed across the world on 12 June to bring awareness againstchild labour. The theme of this year was No to Child Labour, Yes to Quality Education.

    The International Renewable Energy Agency (IRENA) announced that in past one decade renewable

    energy targets have quadruple globally. As per the report released in June 2015, 164 countries have

    adopted at least one type of renewable energy target compared to 43 countries in 2005. All nations are

    adopting renewable energy targets to meet multiple objectives including energy security, environmental

    sustainability and socio-economic benefits.

    China conducted the fourth successful test of a new Wu-14 hypersonic strike vehicle which is capable of

    delivering nuclear weapons.

    African countries signed a historic The Tripartite Free Trade Area (TFTA) that facilitates creation of Africas

    largest free-trade zone, covering 26 countries in an area from Cape Town to Cairo. The deal, signed in

    Egypt, is intended to ease the movement of goods across member countries which represent more than

    half the continent's GDP. With this agreement comes into fruition a century-old dream to link the

    continent from the Cape to Cairo. Explorers and freedom fighters alike all shared the vision to integrate

    African economies.

    India

    Bihar Chief Minister Nitish Kumar launched a campaign called Badh Chala Bihar in Patna to collate ideas

    from the public to produce Bihar@2025. It is a vision document on states development between 2015 and

    2025.

    Jind and Karnal districts of Haryana and Muzaffarnagar of Uttar Pradesh were included in National Capital

    Region in June 2015.

    MISCELLANEOUS

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    The Sahitya Akademi announced the Bal Sahitya Puraskarfor this year, in which five novelists, four writers of

    short stories, and three authors of poetries, among others, were awarded for their contribution to childrens

    literature. Instituted by the Sahitya Akademi, the award comprises Rs 50,000 and a casket containing an inscribed

    copper plaque and a citation. Tiren Boro (Bodo), Sowmya Rajendran and Nivditha Subramaniam (English),

    Ramnath G Gawade (Konkani), Ramdeo Jha (Maithili) and Mukti Upadhyay Baral (Nepali) were awarded for their

    novels. Those who were awarded for their short stories were Nayeem Kashmiri (Kashmiri), Thokchom Thouyangba

    Meitei (Manipuri), Krishna Kumar Ashu (Rajasthani) and Janardhan Hegde (Sanskrit). Tara Chand Kalandri

    (Dogri), Srikanta Saren (Santali) and Sella Ganapathi (Tamil) were awarded for their poetry collections. Bano

    Sartaj (Urdu) was honoured for her book on a one act play. Eli Ahmed (Assamese) and Kartik Ghose (Bengali),

    among others, were honoured with the Bal Sahitya Puraskar 2015 for their contribution to Childrens Literature.

    Indias oldest and largest shipping trade union, National Union of Seafarers of India (NUSI) was honoured with the

    Best Welfare Organisation of the Year 2015award. The award is promoted by the United Kingdom based

    International Seafarers Welfare and Assistance Network (ISWAN) and recognise excellence of organisation in the

    provision of welfare services and facilities for seafarers.

    Sahitya Akademi conferred 4 scholars with prestigious Bhasha Sammanfor their contribution to classical and

    medieval literature in various languages.

    K Meenakshi Sundaram:For her contributions to Classical and Medieval Literature(Southern) .

    Acharya Munishwar Jha:For his contributions to Classical and Medieval Literature (Eastern).

    Charu Chandra Pande and Mathuradutt Mathpal:Jointly recognised for their work towards the

    enrichment of Kumauni.

    Historian-author Ramachandra Guha was selected for Japans prestigious Fukuoka Prize in the Academic

    category. Guhas fellow winners were Thant Myint-U (Grand Prize) and Minh Hanh (Arts and Culture). Fukuoka

    Prize honours those who have made outstanding contributions to academia, arts and culture across Asia.

    Veteran Writer Vishwanath Tripathi was selected for the 28th Moorti Devi Awardfor the year 2014 for his book

    Vyomkesh Darvesh.

    Eminent scientist and recipient of Bharat Ratna CNR Rao was conferred the 'Order of the Rising Sun, Gold andSilver Star', Japan's highest civilian award, for promoting academic interchange and mutual understanding in

    science and technology between the two countries.

    Carnatic vocalist Sanjay Subrahmanyan was selected for this year's Sangita Kalanidhi award.Subrahmanyan,

    47, is one of the youngest to receive the award. He joined the illustrious line of stalwarts who had received the

    award before they turned fifty years like Ariyakudi Ramanuja Iyengar, Musiri Subramania Iyer, Maharajapuram

    Viswanathan Iyer, Semmangudi Srinivasa Iyer, G N Balasubramanian, M L Vasanthakumari and M

    Balamuralikrishna.

    Nadia district in West Bengal won theUnitedNations Public Service Award 2015

    in the category of improvingdelivery of public services for or eliminating open defecation in the district.

    AWARDS & HONOURS

    16th June to 30th June

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    Private insurer Bajaj Allianz launched a weather-based crop insurance scheme for orange crops in Nagpur,

    Hingoli and Washim districts of Maharashtra. The index-based insurance policy will cover losses incurred by orange

    fruit-growing farmers due to deviation in weather conditions and has been approved by Central and the State

    government.

    Blue Star, India's largest central air-conditioning company, launched VRF (variable refrigerant flow) IV Plus air

    conditioning (AC) system. This is the first-ever locally-developed-and-produced VRF ACs in India.

    Bahrain-based GFH Financial Groupsigned an agreement with Indian conglomerate Adani Group for developing

    an economic development zone in Mumbai. Under the agreement, the financial group's unit Energy City Navi

    Mumbai (ECNM) and Adani Group will work together in creating the master plan for the lands of Phases II and III

    of the project, which will offer world class business infrastructure for local and international services, IT and

    energy companies.

    Micromax Informatics Ltd launched a 5.1mm thick smartphone in New Delhi, claiming that its the worlds

    slimmest 4G-enabled phone when measured end-to-end. Priced at Rs 17,999, the company announced M! On-

    site Care, a 7 day doorstep service policy. The phone is bundled with a free 4G SIM from Airtel, with a double data

    offer that doubles the 4G data cap upon activation for the first three months.

    The Bombay High Court allowed Nestle India to export Maggi noodles, currently banned in Maharashtra and

    Many States. After samples of noodles manufactured in March 2014 were reportedly found to contain high lead

    content and Monosodium Glutamate (MSG), the brand is under scrutiny of various State governments and Union

    Consumer Affairs Ministry.

    SoftBank Corp. formed a solar and wind energy joint venture that could invest as much as $20 billion inproducing 20 gigawatts of power in India, partnering the countrys top wireless provider, Bharti Enterprises Ltd.,

    with Taiwanese contract manufacturer Foxconn Technology Co. Ltd. SoftBank is one of the largest investors in

    Indias biggest ridesharing services provider Ola Cabs and Snapdeal.com, which is the countrys second-largest e-

    commerce company. Subject to certain conditions, SoftBank, Bharti and Foxconn will jointly invest in the new

    venture, called SBG Cleantech Ltd. India has set itself the target of generating 100 gigawatts of electricity through

    solar installations and a further 60 gigawatts via wind turbines by 2022.

    Japans SoftBank Corp announced that it was setting up a joint venture with Chinese online shopping giant

    Alibaba and electronics supplier Foxconn Technology to sell its human-like robot Pepper around the world.

    US-based SunEdison Inc.announced to acquire Continuum Wind Energy Ltd, a Singapore-based company with

    assets in India, for an undisclosed sum. Continuum owns and operates 242 megawatts (MW) of wind power plants

    in Maharashtra and Gujarat, besides a 170 MW wind power unit under construction in Madhya Pradesh. It has

    more than 1,000 MW of wind power plants in development across six states in India.

    Indias largest IT services company Tata Consultancy Services (TCS) launched a Next-Gen Technology

    Solutions Center of Excellence (CoE) at its campus in Hyderabad, dedicated to research and development of

    futuristic technologies and creation of next-generation products and solutions for its global customers in the

    Semiconductors, Devices and Networks space.

    Wealth-Xreleased the Worlds Wealthiest Self-Made Billionaires List. It included worlds top 25 richest self-made

    billionaires.

    The list was topped by Microsoft co-founder Bill Gates with a personal fortune totaling nearly 86 billion US dollars.

    American entrepreneursdominated the list claiming 14 of the 25 spots.

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    The Maharashtra government decided to evoke Maharashtra Prevention of Dangerous Activities Act

    (MPDA) against those involved in black marketing of essential commodities and sand mafia. The decision

    to impose MPDA was taken by government in order to tackle the menace of black marketing of essential

    commodities and sand mafia in state and to prevent organised attacks against revenue officials and

    employees by sand mafias and smugglers.

    Union Cabinet approved introduction of Bureau of Indian Standards Bill, 2015 in coming session of

    Parliament. The new bill seeks to replace the existing Bureau of Indian Standards (BIS) Act, 1986 with an

    aim to bring in more products under the mandatory standard regime and end the inspector raj.

    Union Ministry of Finance constituted a 10 member Task Force on Financial Redress Agency (FRA) which

    will be headed by Dhirendra Swarup. Dhirendra Swarup has also served as first chairman of the Pension

    Fund Regulatory and Development Authority (PFRDA) in 2004. This task force was set up to begin the

    preparatory work for FRA that was recommended by the Financial Sector Legislative Reforms Commission

    (FSLRC) as FRA will act as a unified redress agency for financial consumers across the country.

    The Food Safety and Standards Authority of India (FSSAI) announced that it will soon constitute an expert

    group to regulate salt, sugar and fat in food products, following a Delhi High Court order. The committee

    will advise FSSAI on matters related to health risks, dietary intake and current levels of sugar, salt and fat

    in products in the market. It will also provide recommendations on regulations and labelling of these

    elements in food being manufactured, sold, marketed and imported.

    The Union Government of India increased The National Floor Level Minimum Wage (NFLMW) for workers

    from rupees 137 to 160 rupees which will be effective from 1st July 2015. It was fixed at 35 rupees per

    day in 1996 and has since been revised almost regularly every two years taking into account the increase

    in the CPI (IW). It was last raised in July 2013 from 115 rupees a day fixed in 2011. The Labour

    and Employment Minister, Bandaru Dattatreya, also emphasized to ensure implementation of various

    provisions of the Minimum Wages Act, 1948 so that the objective of ensuring the minimum wages to

    workers can be achieved.

    Employee Provident Fund Organisation (EPFO) notified an order to make Universal Account Number (UAN)

    mandatory for all employers covered under the Employees Provident Funds and Miscellaneous Provisions

    Act, 1952. The UAN facility that remains portable throughout the lifetime of an employee was launched by

    Prime Minister Narendra Modi in October 2014.

    BILLS / ACTS / COMMITTEES / SCHEMES / POLICIES

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    Continuing its declining trend, Indias exports shrank by about 20.19 per cent in May 2015 to USD 22.34

    billion, marking a fall for the sixth straight month. The slump in exports is mainly due to global slowdown,dip in crude oil prices and rupee appreciation. In May 2014, the countrys merchandise exports stood at

    USD 27.99 billion. The main exporting sectors, including petroleum products, gems and jewellery,

    engineering and chemicals reported a negative growth in April. Imports, too, declined 16.52 per cent to

    USD 32.75 billion. Trade deficit narrowed to USD 10.4 billion in the month under review compared with

    USD 11.23 billion in May 2014, according to data released by the commerce ministry in June 2015.

    The Cabinet approved the revised target of Jawaharlal Nehru National Solar Mission (JNNSM) to generate

    100,000 Mw by 2022 five times the previous target. The target will comprise 40 Gw power generated

    through rooftop units and 60 Gw through large and medium scale grid connected solar power projects.

    The total investment in setting up projects with capacity of 100 Gw will be around Rs 6 lakh crore.

    The government will provide additional employment of 50 days under its flagship rural employment

    scheme in areas affected by drought. The Union Cabinet chaired by Prime Minister Narendra Modi

    approved a proposal that sought to raise the number of work days to 150 from 100 under the Mahatma

    Gandhi National Rural Employment Guarantee Scheme in drought-hit areas.

    Union Finance Minister Arun Jaitley approved the formation of two committees to facilitate the

    implementation of the Goods and Services Tax (GST) from next April. A steering committee, chaired by

    the Additional Secretary, Department of Revenue, and the Member Secretary of the Empowered

    Committee of State Finance Ministers, will monitor the setting up of IT infrastructure for the GST network,the Central Board of Excise and Customs and other tax authorities. The committee will monitor the

    progress of consultations with stakeholders such as trade and industry and the training of officers. The

    other committee, chaired by Arvind Subramanian, Chief Economic Adviser, will recommend possible tax

    rates under the GST that would be consistent with the present level of revenue collected by the Centre

    and the States. While making recommendations, the committee will take into account the expected levels

    of economic growth, the different levels of compliance, and the broadening of the tax base. The panel

    would assess the sector- and State-wise impact of the GST on the economy.

    The Cabinet Committee on Economic Affairs(CCEA) increased the minimum support price (MSP) of paddy

    by Rs 50 to Rs 1,410 per quintal for this year. The decision on paddy is in line with the recommendation of

    the Commission for Agricultural Costs and Prices (CACP), a government advisory body. MSP is the rate at

    which government buys the grain from farmers.Paddy is the main crop grown in the kharif (summer)

    season.

    The Union Minister of Chemicals & Fertilizers Shri Ananth Kumar formally launched the Cluster

    Development Programme for Pharma Sector (CDS-PS). The programme will provide support to the

    Pharmaceutical industry in becoming more capable, productive and competitive. The Cluster Development

    Programme is proposed to be the key step in ensuring health security of the country. The Minister said

    that by the end of this financial year, 06 Pharma Clusters are likely to come up of which 03 will be

    greenfields. Shri Ananth Kumar said that these Clusters will ensure adequate testing, training and

    affluent treatment facilities for pharmaceuticals industry.

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    The Securities and Exchange Board of India (SEBI) relaxed the norms for technological start-ups to raise

    funds from the capital market, while easing the norms for issuance of Initial Public Offering (IPO) by

    companies. Exchanges will have a separate platform, Institutional Trading Platform (ITP), and would

    facilitate capital raising as well for start-ups. The capital market regulator reduced the post-listing lock-in

    period for tech start-up promoters to six months, instead of three years for other IPOs.

    The association of bond dealers, local currency traders and bankers formed a new firm to fix the Mumbai

    Inter-Bank Offer Rate (Mibor), in line with a Reserve Bank of India (RBI) panel recommendation which

    seeks to avoid a Libor (London Interbank Offer Rate) like fiasco in India. Mibor is the rate at which banks

    lend and borrow overnight money to each other. The Fixed Income Money Market and Derivatives

    Association of India (FIMMDA), the Foreign Exchange Dealers Association of India (FEDAI) and the Indian

    Banks Association have together formed a new firm named the Board of Financial Benchmarks India Pvt.

    Ltd (FBIL), which will henceforth administer the Mibor.

    The finance ministry issued draft proposals for facilitating electronic transactions that are aimed at

    bringing transparency in the economy and promoting cashless payments. The ministry said that the

    objective is to improve the ease of conducting transactions for individuals and cut costs of managing cash.

    The decision, once implemented, will also go a long way in reducing tax avoidance that is rampant

    because of cash payments. The government said that the by facilitating electronic transactions, it will be

    able to build a transactions history which will in turn help customers in getting loans easily and will help in

    financial inclusion.

    The Union Cabinet gave its approval to the Solar Energy Corporation of India (SECI) to apply to the

    Registrar of Companies for converting it into a Section 3 company under the Companies Act, 2013 and its

    renaming. The new corporation shall be known as Renewable Energy Corporation of India (RECI). Themajor impact of the decision will be that SECI will become a self-sustaining and self-generating

    organisation and will engage itself in owning solar power plants generating and selling power and in other

    segments of solar sector activities, including manufacturing of solar products and materials. After it is

    rebranded, the corporation will take up development of all segments of renewable energy namely, geo-

    thermal, off-shore wind, tidal and so on, apart from solar energy.

    India regained its position in the list of top 10 destinations for foreign direct investments (FDI) in 2014,

    after failing to make it to the list a year ago, according to the World Investment Report 2015 released by

    the United Nations Conference on Trade and Development (Unctad). India is ranked ninth in the latest

    report; it was 15th last year. During 2014, FDI inflows into India jumped 22% to $34 billion at a time

    when global FDI fell by 16% to $1.23 trillion. Unctad projected global FDI flows to rise 11% to $1.4 trillion

    in 2015. Indias rank as a top prospective host country for FDI also rose to third place from fourth place in

    an Unctad survey for the period 2015-17. However, India fell to the seventh rank from sixth last year in

    the survey as a source country for FDI for 2014-2016 period.

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    The report identified the automotive industry as one of the sectors in which India has the potential of

    becoming a world leader. The report revealed that China became the largest recipient of FDI in 2014,

    followed by Hong Kong and the US. Developing economies, as a group, attracted $681 billion worth of FDI

    and remain the leading region by share of global investment inflows.

    The Reserve Bank of India released its Financial Stability Report (FSR), the 11th issue of its bi-annual

    publication. The report states the easing global crisis and strong macroeconomic fundamentals in the

    domestic market, including increased FDIs in the past year offer India a "reasonable degree of resilience"

    to fight uncertainties, but poor asset quality of banks and managing expectations are key challenges for

    regulators and the government. "There has been a significant improvement in the macroeconomic

    environment, and going forward, economic performance is expected to be better," the FSR said.

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    Journalist and writer Aakar Pateljoined Amnesty International India as its new Executive Director. Patel will head

    Amnesty International India's operations. Amnesty International India is one of the movement's three nationaloffices, set up to increase our impact in countries with growing global influence which continue to face human

    rights challenges.

    Bangladesh's Supreme Court upheld the death sentence against the second highest ranking leader of the

    fundamentalist Jamaat-e-Islami for war crimes, including massacre of intelligentsia during the liberation war

    against Pakistan, paving the way for his execution. Chief Justice Surendra Kumar Sinha's four-member bench

    confirmed the death penalty for 67-year-old Ali Ahsan Muhammad Mujahid,Jamaat-e-Islami secretary general

    and a former commander of Al-Badr, the militia raised by Pakistan to crush the Bangladesh's struggle for

    independence.

    Anshula Kantwas appointed as the Deputy Managing Director and Chief Financial Officer (CFO) of State Bank of

    India (SBI). She succeeded P K Gupta, who was promoted as Chief Executive Officer of SBI Capital.

    Indias greatest contemporary architect Charles Correapassed away at the age of 84. He had played a pivotal

    role in the creation of architecture for post-Independence India. He was known for his sensitivity to the needs of

    the urban poor and use of traditional methods and materials for construction.

    Senior Bhartiya Janta Party (BJP) leader and Lok Sabha MP Dileep Singh Bhuriapassed away at the age of 71.

    He was Lok Sabha MP from Ratlam-Jhabua constituency of Madhya Pradesh.

    James Horner, the consummate film composer known for his heart-tugging scores for Field of

    Dreams, Braveheartand Titanic, for which he won two Academy Awards, died in a plane crash at the age of 61.

    Britains longest-serving Indian-origin MP Keith Vaz, was re-elected as Chairman of Home Affairs Select

    Committee (HASC) in House of Commons of UK Parliament.

    Billionaire financier Kirk Kerkorian,one of the founders of modern Las Vegas, whose name is synonymous with

    some of the Strips best-known hotel-casinos, died at the age of 98.

    Mogens Lykketoft from Denmark was unanimously elected as President of United Nations General Assembly

    (UNGA). He was only the nominee put forward by the Western Europe and other group (WEOG).

    Narendra Kumar Yadavtook charge as the Chairman and Managing Director (CMD) of the state-run telecom

    operator Mahanagar Telephone Nigam Limited (MTNL). Yadav succeeded PK Purwar.

    Journalist-activist-author Praful Bidwai passed away in Amsterdam at the age of 66. A former journalist with

    The Times of India, Praful wrote with authority and erudition on human rights, environment, global justice and

    peace. He was a founder-member of the Coalition for Nuclear Disarmament and Peace. He was a co-recipient of

    the prestigious Sean MacBride International Peace Prize.

    Lenovo appointed Rahul Agarwalas the managing director for Lenovo India, effective June 29, 2015. He tookover from Amar Babu who has been elevated as the Chief Operating Officer for the Asia Pacific region and

    Chairman of Lenovo India. This appointment comes at a time when the world's largest PC maker is diversifying

    PEOPLE IN NEWS

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    beyond PCs into smart connected devices which the company terms as 'PC+ devices'. These include smartphones,

    tablets, wearables and smart TVs among others.

    Former Indian women hockey captain Shashi Balapassed away along with her son following a road accident in

    Punjab. 45-year-old Shashi Bala made her international debut in 1987 and was a member of the national team in

    the 1998 FIH Women World Cup in the Netherlands. She was captain of the national team during the 1997 FIH

    Women World Cup Qualifier held in Harare, Zimbabwe. After her playing career, she coached India Railways'

    hockey teams and later become a Selector of Hockey Punjab.

    Sister Nirmala,who succeeded Mother Teresa as superior general of the Missionaries of Charity, died at the age

    of 81. Nirmala became the second head of the Missionaries of Charity after its founder Mother Teresa stepped

    down from the post in March 1997.

    A comprehensive book in Dogri on the Dogri literature of 20th century, entitled Beehmi Sadi Da Dogri Da Gadya

    Sahitya: Ik Jayzaa written by noted scholar of Dogri Dr Vijay Seth,was released in Jammu.

    Former Russian Prime Minister Yevgeny Primakov, whose career included journalism, diplomacy and spycraft,

    died at the age of 85.

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    Astronomers named a newly discovered galaxy as CR7 (COSMOS Redshift 7) after Portuguese footballer Cristiano

    Ronaldo.Ronaldo is famously known as CR7 after his initials and his jersey number. He had won Fifas BallondOr award consecutively for two years in 2013 and 2014.

    Indiawas ranked third in Anti-Doping Rule Violations Report for year 2013 released by World Anti-Doping Agency

    (WADA). Russia was ranked first in this report with maximum number of doping athletes, followed by Turkey.

    Indian pair of Jwala Gutta and Ashwni Ponappawon the womens doubles title of the Canada Open Badminton

    tournament when they defeated Dutch pair of Eefje Muskens and Selena Piek in the finals.

    India captain Mahendra Singh Dhoniand Bangladesh fast bowler Mustafizur Rahman were fined 75 and 50 per

    cent of their match fees respectively after being found guilty of breaching the ICC Code of Conduct during the first

    One-Day International at Mirpur.

    Mercedes driver Nico Rosbergfrom Germany won the Austrian Grand Prix Formula One (F1) World Championship

    title. It is Rosbergs eleventh overall championship title and the third win in the 2015 season.

    World number two Roger Federerwon the Halle Open ATP title in Germany when he defeated Andreas Seppi of

    Italy in the finals.

    Indias legendary batsman and Bharat Ratna recipient Sachin Tendulkarwas voted the Best Test player of the

    21st century in an online poll conducted by Cricket Australias website for the list of the 100 best Test players

    since 2000.

    Satnam Singh Bhamara became the first Indian basketball player to be drafted in the National Basketball

    Association (NBA) after being picked by Dallas Mavericks. The 19-year-old, who hails from a remote village in

    Punjab and stands 7 feet 2 inches tall, was the 52nd pick in the NBA Draft.

    Tennis legend Steffi Grafwas appointed the Ayurveda brand ambassador of Gods Own Country Kerala. The 46-

    year-old Graf, who retired in 1999, married former World No. 1 mens tennis player Andre Agassi. Keralas

    Ayurveda, an ancient system of health care which is famous for its holistic effect on body and mind, attracts large

    number of people from the country and abroad every year.

    Sunil Chhetribecame the first Indian footballer to score 50 international goals. He achieved this feat in his 87th

    match i.e. during 2018 World Cup qualifying match between India and Guam.

    Former Pakistan cricket team captain Zaheer Abbaswas selected the new President of International Cricket

    Council (ICC) for one year term. He will be the 13th President of ICC and succeeds Mustafa Kamal of Bangladesh.

    SPORTS

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    World

    India was among the 50 founding countries that signed an agreement providing the legal framework for

    the China-led $100 billion multilateral Asian Infrastructure Investment Bank (AIIB) which is being seen as

    a rival to the US and Europe-dominated banking institutions. The 60-article agreement specified each

    member's share as well as governance structure and policy-making mechanism of the bank, which is

    designed to finance infrastructure in Asia. Australia was the first country to sign the agreement, followed

    by 49 other members.

    According to a research published by the World Economic Forum, the US department of defense is the

    world's biggest employer which claims over 3.2 million employees on its roster. Second is People's

    Liberation Army (the Chinese military) with 2.3 million, and in third is the US supermarket giant Walmartwith 2.1 million workers. Indian Railways was placed at 8th position with 1.4 million staff, while Indian

    Army was placed at 9th position with 1.3 million employees in the list of worlds biggest employers.

    A three week long joint military training exercise code named Silk Route- 2015 between China and Sri

    Lanka begun at Buttala in Central Sri Lanka.

    India

    India is the fourth largest carbon emitter in the world in terms of per capita emission accounting for 6.6 %

    of global emissions for the year 2012. It was revealed by the World Resources Institute (WRI) in its latest

    analyses of the country-wise carbon emissions of climate-damaging greenhouse gases (GHGs). According

    to the analysis figures of WRI, Top 5 emitters are: China (25.26%), US (14.4%), European Union

    (10.16%), India (6.69%) and Russia (5.36%).

    India pledged an assistance of one billion US dollars to the quake-ravaged Nepal for its massive re-

    construction programme.

    MISCELLANEOUS


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