Current Affairs 16 July 2013

1. The Government on Tuesday liberalised FDI limits in twelve sectors, including telecom and defence. Paving way for fresh investments in telecom companies, the government cleared 100 per cent FDI in telecom sector. To boost the sagging economy, the government also raised FDI in defence sector from 26 per cent to 49 per cent. But the hike comes with some conditions. 49 per cent will only be allowed with state-of-the art technology transfer.

2. Finance Minister P Chidambaram has said that all LPG consumers will get subsidy in banks accounts through Direct Benefit Transfer (DBT) by this year.

3. Bhim Sain Bassi will take over as the new Police Commissioner of Delhi on August 1. Bassi will take over from the present incumbent Neeraj Kumar, who will retire on July 31.

4. Supreme Court has summoned Chief Secretaries of four states Uttar Pradesh, Andhra, Tamil Nadu and Maharashtra for failing to take steps on police reforms.

5. After two years of what appeared to be a healthy association, the Indian Air Force(IAF) has dropped the legendary cricketer Sachin Tendulkar as its brand ambassador. Sachin Tendulkar has been replaced with the basic trainer aircraft Pilatus after their association failed to yield the desired results.

6. The Bangladesh Parliament has passed a landmark amendment to its labour law aimed at protecting the rights and interests of workers, in the wake of a strong plea for labour law reforms following death of over 1000 workers in Rana Plaza factory collapse.

7. Santosh B Nayar has been appointed as Chief Executive Officer and Managing Director of the Industrial Financial Corporation of India. The IFCI was the 1st specialised financial institution setup in India to provide term finance to large industries in India.

8. TCS has emerged as India’s most admired company ahead of Hindustan Unilever, ITC, and Infosys, says global management consultancy Hay Group.

9. Steel major POSCO has decided to scrap the proposed 6 million tonnes steel plant in Karnataka, following long delay in land acquisition and adverse market conditions.

10. The Hubble space telescope has discovered a new moon orbiting Neptune, Nasa has confirmed.