IMPORTANT CURRENT AFFAIRS OF JULY 26th, 2017

IMPORTANT CURRENT AFFAIRS OF JULY 26th, 2017

1. Nation celebrates Kargil Vijay Diwas: 26 July

i. The country celebrated the 18th Anniversary of ‘Kargil Vijay Diwas’. On the occasion, Defence Minister Arun Jaitley and three Chiefs of Services laid floral tribute at Amar Jawan Jyoti, India Gate.

ii. Kargil Vijay Diwas is celebrated on 26 July, commemorates India’s emphatic victory against Pakistan and honors the war heroes.
iii. On this day in 1999, the Indian Army successfully took control of posts at a treacherous high altitude and glaciated terrain across the Himalayas in the Ladakh region of Jammu and Kashmir, after fighting for 60 days.

2. Union Home Minister chairs first meeting of Islands Development Agency (IDA)

i. The Union Home Minister Shri Rajnath Singh chaired the first meeting of the newly constituted Islands Development Agency (IDA).

ii. The Union Home Minister presented the vision for developing India’s maritime economy while preserving the natural eco-system and addressing the security concerns.

3. BRICS Youth Forum opens in Beijing

i. The 2017 BRICS Youth Forum opened in Beijing, China to discuss the development of the youth in the countries of the grouping. The theme of three-day forum is 'Enhance BRICS Partnership, Promote Youth Development'.

ii. It gathered 50 youth representatives working as civil servants, scholars, entrepreneurs, artists and journalists from the BRICS countries. The five BRICS countries first came up with the idea of establishing a dialogue mechanism for BRICS youth in 2014 during a meeting between BRICS leaders in South Africa.

4. SIDBI starts merchant banking operations to help MSMEs tap market

i. Small Industries Development Bank of India (SIDBI) has started full-fledged merchant banking operations to benefit the expanding number of growth-oriented micro, small and medium enterprises (MSMEs), especially those with a strong technology and innovation quotient.

ii. The initiative is aimed at enhancing the access of MSMEs to the capital markets, including the SME Trading Platform and Institutional Trading Platform.

5. Aurionpro launches a Bank in a Box to reduce branch expansion cost for banks

i. Aurionpro Solutions a global leader in digital innovation, enterprise security and banking solutions, announced its Branch-in-a-Box product, the Virtual Teller Machine (VTM) a fully integrated self-service kiosk for automating 90% of banking transactions at the branch level. 

ii. The VTM helps in migrating routine transactions like eKYC, account opening, passbook and statement printing, video assistance, bill payment, cash and cheques (single and bunched) deposit, cheque account summary, cash withdrawal, personalised instant card issuance, activation and replacement from the branch to the teller machines.

6. Standard Chartered Bank unveils forex card

i. Standard Chartered Bank has launched a Multi-currency Forex Card for overseas travelers. The card will allow customers the convenience of loading up to 20 widely used currencies on one card with an online reload facility during overseas travel.

ii. The card will offer travelers protection against the frequent currency fluctuations by locking in the currency exchange rate they availed during the time of loading the card, and not pay different rates every time they use the card.

7. Reliance Defence launches first two naval patrol vessels Shachi and Shruti

i. Reliance Infrastructure subsidiary Reliance Defence and Engineering Limited (RDEL) announced the launch of its first two Naval Offshore Patrol Vessels (NOPVs) at their shipyard in Pipavav, Gujarat.

ii. The two NOPVs, 'Shachi' and 'Shruti' are among five ships being constructed by RDEL under the P-21 project of the Indian Navy.  It is the first private shipyard in India to obtain defence production licence and sign a contract for defence ships in 2011.

8. Yatra acquires Air Travel Bureau to expand corporate travel business

i. Yatra Online Inc, India’s second-largest online travel operator, has acquired corporate travel services provider Air Travel Bureau (ATB).

ii. ATB is India’s ‘largest corporate travel services provider’ with gross bookings of Rs 1,500 crore and a client base of 400 companies in the country.

9. Google CEO Sundar Pichai joins Alphabet Board of Directors

i. Google CEO Sundar Pichai has been appointed to the board of directors of Alphabet, the search giant’s parent company.

ii. Alphabet is the second most valuable U.S. company behind Apple. Alphabet shares have risen by more than 50% since Pichai, following a steady rise through Google’s managerial ranks.

10. Janalakshmi Financial Services appoints Ajay Kanwal as CEO

i. Gearing up for the launch of their small finance bank, Janalakshmi Financial Services (JFS), the largest microfinance company, has announced the appointment of its new CEO Ajay Kanwal.

ii. Kanwal, a veteran banker having 27 years of experience in both consumer and commercial banking sector, will take charge of office from August 1.

11. India to host maiden men's World Boxing Championship in 2021

i. The International Boxing Association (AIBA) has announced that India will host their first Men’s World Championship in 2021. The announcement was made after a two-day executive committee meeting that was held in Moscow.

ii. The AIBA Men’s World Championships 2019 will be held in Russia city of Sochi. The 2018 Women’s World Championships will also be held in New Delhi.