Current Affairs for IAS Exams - 31 July 2015

Current Affairs for IAS Exams – 31 July 2015

Russia is modernizing its S-300 missile system to supply to Iran, an adviser to Russian President Vladimir Putin said on July 30, RIA news agency reported.
Vladimir Kozhin, a presidential adviser on military matters, said the S-300 air defense missile systems will be upgraded before being delivered to Iran, since the original contract was signed a long time ago.
He wouldn't offer specifics or say when the delivery would take place.
Russia cancelled a contract to deliver the advanced missile system to Iran in 2010 under pressure from the West.
But Putin lifted that self-imposed ban in April following an interim nuclear deal between Iran and world powers.
Moscow is hoping to reap economic and trade benefits now that a more comprehensive nuclear deal between Iran and world powers has been reached, allowing for an easing of sanctions on the Islamic republic.
Israeli Prime Minister Benjamin Netanyahu has expressed Israel's "dismay" at Russia's decision to supply the S-300s to Iran, and the United States also has expressed concern.

Making a strong pitch for attracting investment to their continent, African diplomats on Thursday said that the Make-in-India initiative could very well be utilised to boost trade between the two countries.
Keeping on a low key their individual country interests, the three diplomats – representing Ghana, South Africa and Tanzania – made a strong pitch for the African continent saying that the economy was now warning up and the 54 countries together could offer vast opportunities in raw material sourcing and product marketing.
Stefanus Botes, Economic Counsellor, South Africa High Commission said that Africa was now a huge market, which is projected to expand to $1.4 trillion by 2020 from $860 billion in 2008. There were 52 cities with a population of over one million.

The Reserve Bank on Thursday announced plans to put into circulation 10 rupee coins to commemorate the International Day of Yoga.
The coin bears the logo of the International Day of Yoga, with the inscription Saamanjasya evam shanthi ke liye yog “ in Devnagri script and “yoga for harmony and peace” around the logo.
At the bottom of the logo the date June 21 is inscribed, according to an official statement.
The inscription Anthar rashtriya yoga divas in Devnagri script is on the left periphery and “international day of yoga” in English on the right periphery is written on this side of the coin.
The obverse of the coin bears the Lion Capitol of Ashoka Pillar in the centre with the legend Sathyamev Jayate inscribed below, the statement said.
This is flanked on the left periphery with the word Bharat in Devnagri script and on the right periphery flanked with the word “INDIA” in English.
The coins have been minted by the Central government and are legal tender as provided in The Coinage Act 2011. They will be put into circulation shortly, according to the statement.

In an unusual move, the finance ministry has nominated Ajay Taygi, additional secretary in the Department of Economic Affairs to the RBI board in place of economic affairs secretary Rajiv Mehrishi.
As per the convention, eonomic affairs secretary besides the financial services secretary is part of Central Board Directors of RBI.
"In exercise of the power conferred by clause (d) of sub-section (1) of Section 8 of the RBI ACT 1934, the central government hereby nominates Ajay Tyagi, additional secretary (Investment) Department of Economic Affairs Ministry of Finance, to be director on the Central Board of Directors of RBI with immediate effect until further order vice Rajiv Mehrishi," a finance ministry notification said.
Mehrishi also holds finance secretary position in the ministry.
Following this notification in June 22, RBI had a board meeting which would not have been attended by the incumbent finance secretary.
As per the RBI website, there are 17 board members including RBI Governor and four Deputy Governors. Rajiv Mehrishi name is still part of the central board of directors as reflected on the website.

One97 Communications, owners of Paytm, today acquired the title sponsorship rights for India's domestic and international cricket matches at home for a period of four years with a bid price of Rs 203.28 crore.
The decision to award the rights to One97 Communications till 2019 was taken at the BCCI's marketing committee meeting.website
The base price per match was Rupees 1.68 crore and the final price comes to Rs 2.42 crore per match. The amount per match is 40 lakh more than what Micromax, who were the only bidders in the 2014-15 season, gave the Board last year.
From now on, the domestic Ranji competition will be known as the 'Paytm Ranji Trophy'.
There were only two bidders for the scheduled 84 matches (Tests, ODIs and T20Is) in India during the upcoming seasons as the rights have been awarded till 2019.
The bids were opened at the BCCI marketing committee meeting that lasted for around five hours.