1) PM Modi inaugurates APJ Abdul Kalam’s memorial in Rameswaram
•Prime Minister Narendra Modi inaugurated the former President, Dr. APJ Abdul Kalam’s memorial at Pei Karumbu in Rameswaram, Tamil Nadu on the second death anniversary of the former President. Mr Modi unveils a statue of Dr. Kalam and hoisted the National flag at the memorial.
•Mr. Modi will flag off Kalam Sandesh Vahini, an exhibition bus which will travel across the country and reach Rashtrapati Bhavan on 15th of October, which marks the birth anniversary of the former President. The majestic memorial for the missile man Dr. APJ Abdul Kalam has been designed and built by the Defence Research and Development Organization.
2) Uttarakhand records second highest tiger count in India
•The count of tigers in Uttarakhand shot up to 242 with an increase of 63 big cats in the year 2017. The news was announced by Trivendra Singh Rawat, Chief Minister of Uttarakhand.
•In addition, 11 cubs were also found in the two tiger reserves, the Corbett Tiger Reserve and the Rajaji Tiger Reserve, in the state. Uttarakhand is the second state in terms of tiger count behind Karnataka, which has 400 big cats. According to the latest statistics, at least 208 tigers have been identified in Jim Corbett Tiger Reserve, up from last year's 163. Also six cubs were identified there.
3) Cabinet approves revision of guidelines of Sovereign Gold Bonds Scheme
•The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given approval for revision of guidelines of Sovereign Gold Bonds (SGB) Scheme with a view to achieve its intended objectives.
Two sets of changes have been made in the scheme:
1. Specific changes have been made in the attributes of the scheme to make it more attractive, mobilise finances as per the target and reduce the economic strains caused by imports of gold and reduce the Current Account Deficit (CAD).
2. Flexibility has been given to Ministry of Finance to design and introduce variants of SGBs with different interest rates and risk protection / pay-offs that would offer investment alternatives to different category of investors. Ministry of Finance (the issuer) has been delegated this power to amend / add to the features of the Scheme with approval of the Finance Minister to reduce the time lag between finalizing the attributes of a particular tranche and its notification.
• Following specific changes in the scheme have been approved:
i. The investment limit per fiscal year has been increased to 4 kg for individuals, 4 Kg for Hindu Undivided Family (HUF) and 20 Kg for Trusts and similar entities notified by the Government from time to time.
ii. The ceiling will be counted on Financial year basis and will include the SGBs purchased during the trading in the secondary market.
iii. The ceiling on investment will not include the holdings as collateral by Banks and Financial institutions.
iv. SGBs will be available 'on tap’. Based on the consultation with NSE, BSE, Banks and Department of Post, features of product to emulate 'On Tap' sale would be finalised by Ministry of Finance.
4) Madras High Court makes Vande Mataram mandatory in Schools, Govt. and Private Offices
•The Madras High Court ruled that Vande Mataram should be sung in all schools and colleges across the state “at least once a week”, and in government and private offices “at least once a month”.
•Issuing the order, Justice M V Muralidharan stated, Considering the larger public interest and to instil a sense of patriotism in each and every citizen of the state, the national song ‘Vande Mataram’ shall be played and sung in all schools/ colleges/ universities and other educational institutions at least once a week (preferably on Monday or Friday).
5) Subhash Chandra Garg appointed as India’s Alternate Governor on the Board of Governors of ADB
•Economic Affairs Secretary Subhash Chandra Garg has been appointed as Indias Alternate Governor on the Board of Governors of the Asian Development Bank (ADB), the Finance Ministry announced recently.
•Garg has been appointed in place of former DEA Secretary Shaktikanta Das. The appointment came into effect from July 12.
6) Axis Bank acquires FreeCharge for Rs. 385 crore
•Axis Bank announced the acquisition of Snapdeal-owned mobile payments provider Freecharge in an all-cash deal worth Rs385 crore. The deal is subject to regulatory approval from the Reserve Bank of India (RBI) and the indicative time-frame to complete the acquisition is two months, the private sector lender said in an exchange filing.
•With this buyout, Axis Bank will get over 50 million customers of Freecharge along with its niche and patented technology and human resources. Founded in 2010 by Mumbai based entrepreneur Kunal Shah, FreeCharge started as a recharge deal coupons platform before turning into a full-scale mobile wallet.
