1. Pakistan receives emergency loan worth $7.6 billion from IMF
(i) Recently, Pakistan got the final approval for an emergency loan worth $7.6 billion International Monetary Fund loan to avert the balance-of-payments crisis the country is facing.
(ii) As per IMF, Pakistan will immediately access $3.1 billion under the 23-month facility with the rest phased in subject to quarterly review.
(iii) The IMF has extended loan to Pakistan with two fold aim, one, to steady the economy and restore confidence by tightening macroeconomic policy, and second to ensure social stability and support for the poor and vulnerable.
2.World Bank Report – India is largest recipient of World Bank loans
(i) As per the recently released lending report by World Bank, India is the largest recipient of loans from the World Bank, amounting to $102.1 billion between 1945 – 2015.
(ii) Most of the funds to India have been extended for Rural and Urban development in agriculture, transport, water and health and irrigation sectors.
(iii) The World Bank’s, International Bank for Reconstruction and Development (IBRD) lent $ 52.7 billion and the International Development Association (IDA), a multilateral concessional lender of World Bank, extended a loan worth $49.4 billion to India over the last 70 years.
(iv) As per report, India is followed by by Brazil ($58.8 billion), China ($55.6 billion), Mexico ($54 billion) and Indonesia ($50.5 billion).
3. Bull baiting sport Jallikattu not to be held this year in Tamil Nadu
(i) The ancient and controversial bull-baiting sport Jallikattu is practised in Tamil Nadu. Recently, the Supreme Court banned the sport just days after the Centre lifted the ban on the same.
(ii) While animal rights activists are vehemently against it, politicians have defended the sport.
(iii) In response to the court ruling, the state government has argued that the sport must be allowed as a number of safeguards are in place.
(iv) The Union government has also stated that animal rights activists have “no fundamental right” to challenge the sport. However, owing to the Supreme Court’s ruling, the festival will not be held this year.
4. Andhra Pradesh becomes first state to announce a retail policy
(i) Andhra Pradesh became the first state in India to announce its retail policy, offering more flexibility in laws related to working hours for ease of conducting business in the retail sector.
(ii) Further, to thwart strikes the state has included food and grocery retail enterprises under the Essential Services Maintenance Act (ESMA). It also declared distribution centres and warehouses of retail enterprises as public utilities under the Industrial Disputes Act, 1947.
(iii) Presently, Andhra Pradesh has nearly 8% of India’s total retail market of 13 million stores, and it aims to attract not less than Rs.5,000 crore investment by 2020. Retail giants like Walmart, Future group, Spencer’s and Arvind Lifestyle, among others planning to set up large format stores, involving an aggregate investment of at least Rs.1,500 crore.
5.IDFC Bank buys 10% stake in ASA International India Micro-finance
(i) The newly-launched IDFC Bank bought a 9.99% stake in ASA International India Micro-finance for around Rs.8.5 crore.
(ii) ASA is a Dhaka-based micro finance institution, of which ASA International India is a division. ASA operates in 12 countries and aims to lend $2.5 billion in loans among 6.6 million clients in 2015-16.
(iii) Rajiv Lall, MD of IDFC said, “ASA will give us access to their customers and that allows us to expand our lending operations. It also gives us the opportunity to open bank accounts for ASA’s customers, so it’s a win-win partnership. They need capital, we need customers – that’s the essence of our transaction.”
6. Induslnd Bank ties up with online payment solution PayU India
(i) Induslnd Bank recently tied up with online payment solution firm, PayU India. This partnership is expected to help provide customers the full range of consumer banking products online as well as payment innovations.
(ii) The partnership is expected to leverage the bank experience to tap and redefine the rapidly growing digital financial space for both retail and business customers.
(iii) Furthermore, the collaboration is expected to create co-branded digital consumer banking products that will revolutionise the way digital banking and payments have shaped up and is expected to attract new customers across demographies.
7. CBI registers case against Indian Overseas Bank branch manager and private company owner
(i) Recently, CBI registered a case against an Indian Overseas Bank branch manager and a private company owner for allegedly cheating the bank for Rs. 8.41 crore through the issuance of loan in the name of non-existing firm.
(ii) A case has been registered by the CBI against B K Mohan Raju, branch manager, Indian Overseas Bank, Veerabhadrapuram Branch, West Godavari District in Andhra Pradesh, and private company P B R Poultry Tech.
(iii) During the period of June 2011 to February 2013 these two entities conspired to cheat the bank.
8. Orange acquires Bharti Airtel operations in Burkina Faso and Sierra Leone
(i) In a recent acquisition, French telecom major, orange acquired Bharti Airtel’s operations in Burkina Faso and Sierra Leone.
(ii) This move comes after July 2015 agreement which was signed between Airtel and Orange regarding the potential acquisition of Airtel’s operations in Burkina Faso, Sierra Leone, Chad and Congo Brazzaville.
(iii)The agreements pertaining to transaction in Chad and Congo Brazzaville lapsed. As per the statement issued by Bharti Airtel, Orange will acquire 100% stake in the two companies’ share capital.
(iv) Though the size of the deal was not announced. The consolidated revenue of the two companies is around 275 million euros.
9. Balkrishna Garg conferred with Harikrishna Devsare Baalsahitya Award 2015
(i) Recently, veteran poet Balkrishna Garg was honoured with the second Harikrishna Devsare Baalsahitya Award 2015 for his collection of children’s poems titles ‘BaalGeet.’
(ii) The award was presented to Garg by Sahitya Akademi President Vishwanath Prasad Tiwari and National Book Trust Chairman Baldeo Bhai Sharma.
(iii) The jury has stated that Garg’s “poems while adopting the modern poetic forms also retain the simplicity and lucidity of traditional style of poetry written for children.”
(iv) He has penned over 300 books for children. He has been a recipient of several awards and honours, including Bal Sahityakar Samman, Bal Sahitya Samman of Uttar Pradesh Hindi Sansthan, Kriti Samman and Sahityakar Samman of Hindi Akademi, Delhi.
10.Indira Nooyi becomes the most generous graduate of Yale School of Management
(i) In a recent development, Indira Nooyi, PepsiCo’s India-CEO recently gifted an undisclosed sum to her alma mater, the Yale School of Management.
(ii) The Yale School is to name its deanship in honour of Indira Nooyi for her landmark gift to the school. This has made Nooyi, the biggest alumni donor of the Yale School of Management and also the first woman to be endowed a deanship at a top Business school.
(iii)The contribution by Nooyi has made her the most generous graduate of Yale School of Management in terms of lifetime givings to school.
11. January 12 observed as the National Youth Day all over India
(i) January 12th is annually observed as the National Youth Day across India to mark the birth anniversary of Swami Vivekanand.
(ii) On this occasion, Prime Minister Narendra Modi paid tribute to the scholar on his 153rd birth anniversary this year.
(iii) He addressed the 20th National Youth Festival in Chhattisgarh via video conference, for which over 6000 youths from all across India gathered at Naya Raipur, Chhattisgarh. The theme for the festival was “India Youth for Skill, Development and Harmony”.
12. Nati folk dance enters the Guinness Book of World Records
(i) Nati folk dance of Kullu district of Himachal Pradesh entered in the Guinness Book of World Records as the largest folk dance in the world as it was performed by 9,892 participants.
(ii) Kullu Deputy Commissioner Rakesh Kanwar informed that the event was organised under the aegis of “Beti Hai Anmol” and mostly females participated in the event.
(iii) Though around 13,000 women had participated in the event, only 9,892 were registered by the authorities as there were stringent rules, including bar-coded chip for each participant, due to which many were left unregistered.
13. Messi wins the Ballon d’Or trophy for a record fifth time
(i) Lionel Messi lifted the Balon d’Or award for the world’s best football player for a record fifth time.
(ii) The 28-year-old player lifted the trophy after bagging 41.33% of the votes pushing Real Madrid forward Cristiano Ronaldo (27.76%) to the second spot and Barcelona’s Neymar (7.86%) to the third. Cristiano Ronaldo claimed the trophy in 2013 and 2014.
(iii) United States midfielder Carli Lloyd, who scored a hat-trick in the World Cup final against Japan, was named the world’s top woman soccer player. The feat also earned her the Golden Ball for best player in the tournament.
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