Current Affairs of 5 July 2015

1. Finance Minister Arun Jaitley to Attend Inaugural Meet of BRICS Bank at Moscow
Finance Minister Arun Jaitley is leaving for Russia on Monday evening to participate in the inaugural meeting of the BRICS-backed New Development Bank.
 During the four-day visit, he will also be participating at the functions on the sidelines of the BRICS Summit at Ufa which is being attended by Prime Minister Narendra Modi.
The minister, sources said, will attend the inaugural meeting of the Board of Governors of the New Development Bank at Moscow.

Thereafter, Mr Jaitley would attend the meeting of the Finance Ministers of the BRICS nations -- Brazil, Russia, India, China and South Africa.  
The Summit could look at the possibility of starting credit facility in local currency by the BRICS Bank. The first head of the Bank is noted Indian banker KV Kamath.  
The Summit of the key emerging economies in the world, will focus discussions on enhancing cooperation in economic area, including the possibility of trade in local currency.  
India is hoping to get more funds for infrastructure development from BRICS bank, which will start with an initial paid-up capital of $50 billion with each BRICS country contributing $10 billion. Its authorised capital is $100 billion.  
The BRICS nations account for nearly $16 trillion in GDP and 40 per cent of the world's population.

2. President Pranab Mukherjee Greets Malawi, Comoros on National Day
President Pranab Mukherjee on Sunday greeted Malawi and Comoros ahead of their National Day on July 6.
In his message to the Malawi President Peter Mutharika, Mr Mukherjee said he was confident co-operation between "our two countries will continue to grow to the mutual benefit of our people.
"I look forward to Malawi's active participation in the third India-Africa Forum Summit to be held in New Delhi in October."
Malawi gained independence from Britain on July 6, 1964.
In his message to Comoros President Ikililou Dhoinine, Mr Mukherjee said: "I am confident that our relations will be further strengthened in the years to come to the mutual benefit of our peoples."
Comoros won independence from France in 1975.

3. Chile beats Argentina 4-1 on penalties to win Copa America
Goalkeeper Claudio Bravo made a save and striker Alexis Sanchez converted the winning penalty as host Chile defeated Argentina 4-1 in a shootout after a 0-0 draw in the Copa America final on Saturday, finally winning its first major title.
Bravo stopped Ever Banega’s low shot by diving to his left to make the save, and earlier Gonzalo Higuain also missed for Argentina, sending his shot over the crossbar.
The Chileans made all of their penalties.
The title comes as a reward for the nearly 50,000 Chileans who packed the Estadio Nacional, and to the nation’s best generation of players in years.
The result extends Argentina’s and Lionel Messi’s title drought. The national team hasn’t won a trophy in 22 years.

4. Four Indian-Americans honoured with 2015 Great Immigrants: The Pride of America award
Four Indian Americans were on 4 July 2015 honoured with the 2015 Great Immigrants: The Pride of America award by Carnegie Corporation of New York. These Indian-Americans are among 38 individuals that were honoured for having enlightened the society, culture, and economy
This year marks the 10th annual immigrant recognition that was established by Andrew Carnegie, the man who came to this country as the son of impoverished immigrants and grew up to one of the greatest contributors to American industry and philanthropy.
Indian-American Winners
• Preet Bharara, United States Attorney, Southern District of New York
• Rakesh Khurana, Professor, Dean, Harvard College
• Madhulika Sikka, Vice President, Executive Editor, Mic
• Abraham Verghese, Physician and Writer

5. C D Balaji took charge as Director of the Aeronautical Development Agency
 Commodore C D Balaji (Retd) on 3 July 2015 took charge as the Director of the Aeronautical Development Agency (ADA) and Programme Director of the Light Combat Aircraft (LCA).  He succeeded P S Subramanyam, Distinguished Scientist, who superannuated on 30 June 2015.  Prior to this appointment, Balaji, an outsatnding scientists, was Project Director of the LCA’s naval version. He was commissioned into the Indian Navy's engineering branch in September 1978 and since then, he has specialised in the Naval Aviation Arm.

1. Finance Minister Arun Jaitley to Attend Inaugural Meet of BRICS Bank at Moscow
Finance Minister Arun Jaitley is leaving for Russia on Monday evening to participate in the inaugural meeting of the BRICS-backed New Development Bank.
 During the four-day visit, he will also be participating at the functions on the sidelines of the BRICS Summit at Ufa which is being attended by Prime Minister Narendra Modi.
The minister, sources said, will attend the inaugural meeting of the Board of Governors of the New Development Bank at Moscow.

Thereafter, Mr Jaitley would attend the meeting of the Finance Ministers of the BRICS nations -- Brazil, Russia, India, China and South Africa.  
The Summit could look at the possibility of starting credit facility in local currency by the BRICS Bank. The first head of the Bank is noted Indian banker KV Kamath.  
The Summit of the key emerging economies in the world, will focus discussions on enhancing cooperation in economic area, including the possibility of trade in local currency.  
India is hoping to get more funds for infrastructure development from BRICS bank, which will start with an initial paid-up capital of $50 billion with each BRICS country contributing $10 billion. Its authorised capital is $100 billion.  
The BRICS nations account for nearly $16 trillion in GDP and 40 per cent of the world's population.

2. President Pranab Mukherjee Greets Malawi, Comoros on National Day
President Pranab Mukherjee on Sunday greeted Malawi and Comoros ahead of their National Day on July 6.
In his message to the Malawi President Peter Mutharika, Mr Mukherjee said he was confident co-operation between "our two countries will continue to grow to the mutual benefit of our people.
"I look forward to Malawi's active participation in the third India-Africa Forum Summit to be held in New Delhi in October."
Malawi gained independence from Britain on July 6, 1964.
In his message to Comoros President Ikililou Dhoinine, Mr Mukherjee said: "I am confident that our relations will be further strengthened in the years to come to the mutual benefit of our peoples."
Comoros won independence from France in 1975.

3. Chile beats Argentina 4-1 on penalties to win Copa America
Goalkeeper Claudio Bravo made a save and striker Alexis Sanchez converted the winning penalty as host Chile defeated Argentina 4-1 in a shootout after a 0-0 draw in the Copa America final on Saturday, finally winning its first major title.
Bravo stopped Ever Banega’s low shot by diving to his left to make the save, and earlier Gonzalo Higuain also missed for Argentina, sending his shot over the crossbar.
The Chileans made all of their penalties.
The title comes as a reward for the nearly 50,000 Chileans who packed the Estadio Nacional, and to the nation’s best generation of players in years.
The result extends Argentina’s and Lionel Messi’s title drought. The national team hasn’t won a trophy in 22 years.

4. Four Indian-Americans honoured with 2015 Great Immigrants: The Pride of America award
Four Indian Americans were on 4 July 2015 honoured with the 2015 Great Immigrants: The Pride of America award by Carnegie Corporation of New York. These Indian-Americans are among 38 individuals that were honoured for having enlightened the society, culture, and economy
This year marks the 10th annual immigrant recognition that was established by Andrew Carnegie, the man who came to this country as the son of impoverished immigrants and grew up to one of the greatest contributors to American industry and philanthropy.
Indian-American Winners
• Preet Bharara, United States Attorney, Southern District of New York
• Rakesh Khurana, Professor, Dean, Harvard College
• Madhulika Sikka, Vice President, Executive Editor, Mic
• Abraham Verghese, Physician and Writer

5. C D Balaji took charge as Director of the Aeronautical Development Agency
 Commodore C D Balaji (Retd) on 3 July 2015 took charge as the Director of the Aeronautical Development Agency (ADA) and Programme Director of the Light Combat Aircraft (LCA).  He succeeded P S Subramanyam, Distinguished Scientist, who superannuated on 30 June 2015.  Prior to this appointment, Balaji, an outsatnding scientists, was Project Director of the LCA’s naval version. He was commissioned into the Indian Navy's engineering branch in September 1978 and since then, he has specialised in the Naval Aviation Arm.

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