Gerardo Martino steps down as Argentina coach

  

 Gerardo Martino has resigned as Argentina's national team coach, citing the financial chaos enveloping the Argentine Football Association and lack of preparedness for the upcoming Olympics.

JULIO TO REPLACE MARTINO Argentina moved quickly to name a new coach for the Rio de Janeiro Olympics, only a month away.Juan Sebastian Veron, president of the Estudiantes club,

World's Largest Spinning Wheel Inaugurated At Delhi Airport

  

 BJP president Amit Shah, Union Ministers Kalraj Mishra, Mahesh Sharma, Dharmendra Pradhan and others at the unveiling of the world's largest charkha at T-3 Departure Forecourt, IGI Airport in New Delhi. (PTI photo)NEW DELHI:  Union Minister for Micro, Small and Medium Enterprises Kalraj Mishra today unveiled the world's largest charkha (spinning wheel) at the Indira Gandhi

Cabinet approves BSNL pension revision

   

The Union Cabinet at a meeting here chaired by Prime Minister Narendra Modi on Tuesday approved pension revision to the retirees of public sector telecom company Bharat Sanchar Nigam Limited (BSNL) by allowing the benefit of merger of 50 per cent DA/DR with basic pay.The pension revision for BSNL pensioners and family pensioners will amount to 78.2 per cent DA/DR for the purpose of fitment and modifying BSNL's liability towards pensionary benefits payments to retired

Sebi defers implementation of new accounting standards

Mumbai: In a relief for listed companies, the Securities and Exchange Board of India (Sebi) on Tuesday deferred the timelines for implementation of new accounting standards.Starting financial year 2017 companies were required to transition from the current reporting format for financial results that is based on Generally Accepted Accounting Principles (GAAP) to Indian Accounting

US Criticises PM Modi On Pace Of Reforms, Questions GDP Data

 The Narendra Modi government has been "slow" to match its rhetoric in economic reforms, the US State Department said in a report yesterday.Many of the reforms proposed by the government have struggled to pass through parliament, the report noted, adding that this has resulted in many investors retreating slightly from their once forward-leaning support of the BJP-led government.According to

Exam-Oriented-Current-Affairs-Dated-05-07-2016-www.KICAonline.com-hindi

Exam-Oriented-Current-Affairs-Dated-05-07-2016-www.KICAonline.com-hindi

'माईस्पीड' से बड़ेगी मोबाइल डाटा की स्पीड

स्मार्ट फोन में अक्सर डाटा स्पीट को लेकर लोग शिकायत करते हैं। ट्राई ने इस समस्या का समाधान खोज लिया है। भारतीय दूरसंचार नियामक प्राधिकरण (ट्राई) ने उपभोक्ताओं के मोबाइल डाटा स्पीड को बनाए रखने में सहायता के लिए 'माईस्पीड' नाम एक नया स्मार्टफोन ऐप जारी किया है। यह डिजिटल इंडिया पहल के तहत पहला ऐप है जो कम डाटा स्पीड मुददे के समाधान के लिए सीधा प्रयास है। 'माईस्पीड' ऐप को निःशुल्क

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Indian scientists highlight global heritage, science of swastika

 A three-day exhibition beginning here on Friday based on recent research by Indian scientists will highlights the universality of the swastika as a principle of sustainability and maps the heritage and science behind the symbol, organisers said.

By: IANS | Kolkata | Published: July 5, 2016 12:35 PM

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 The Swastika' exhibition is part of the mutli-dimensional Sandhi project - an initiative of IIT-Kharagpur sponsored by Union Ministry of Human Resource Development that seeks to "build a bridge between ancient Indian scientific heritage and modern science". (Reuters) The Swastika’ exhibition is part of the mutli-dimensional Sandhi project – an initiative of IIT-Kharagpur sponsored by Union Ministry of Human Resource Development that seeks to “build a bridge between ancient Indian scientific heritage and modern science”. (Reuters)

A three-day exhibition beginning here on Friday based on recent research by Indian scientists will highlights the universality of the swastika as a principle of sustainability and maps the heritage and science behind the symbol, organisers said.

The Swastika’ exhibition is part of the mutli-dimensional Sandhi project – an initiative of IIT-Kharagpur sponsored by Union Ministry of Human Resource Development that seeks to “build a bridge between ancient Indian scientific heritage and modern science”.

“Swastika is seen in civilisations in the Indian subcontinent, southeast Asia, central and west Asia, western Europe, the Mediterranean, sub-Saharan Africa, the Americas and Pacific and recurs in religion, philosophy, spirituality, science and technology as well. The team behind the research has identified the swastika as the universal principle of sustainability,” Joy Sen, principal investigator of Sandhi and IIT-Kgp professor, told IANS.

The team representing Sandhi comprises of research scholars, 2016 summer interns and Sandhi cell technology student gymkhana, said Sen.

Through audiovisuals and publications, the exposition will focus on topics representing the recurrence of the ideogram (a graphic symbol that represents an idea or concept, independent of any particular language, and specific words or phrases) across the globe.

“There are topics like ‘Swastika’s Voyage: Where it All Started’, ‘heritage and science behind swastika in Americas’ among others, based on image interpretation and the study of the meanings of words and phrases in language (semantics) and the study of signs and symbols as elements of communicative behaviour (semiotics),” Sen said.

The collaborators are the ICCR, Kolkata, Visva Bharati University and Kolkata Museum of Modern Art, said Sen.

According to an MHRD tweet, studies under Sandhi prove relevance of India’s scientific approach through collaboration with modern science methodology.

BofA-ML sees these three event risks to grip Indian economy soon

 BofA-ML sees these three event risks to grip Indian economy soon

  

Bank of America Merrill Lynch expects Reserve Bank of India (RBI) to consider 25 basis points (bps) cut in interest rates in its next policy meet scheduled to take place on August 09 on good monsoons, although June Cosumer Price Index (CPI) inflation may rise to 6.2 per cent on a poor summer crop.

The brokerage believes banks will cut rates by 50 bps by September.

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The brokerage, in its India Economic Watch report, advised the investors to track RBI open market operations (OMO) that holds the key to lending rate cuts with global uncertainty drying up foreign inflows.

Below are three event risks that, according to BofA-ML, are lurking around and may have an impact on the liquidity scenario in the economy:

1) Tax amnesty scheme

The govt once again launched an amnesty scheme to encourage Indians with hidden assets abroad to come clean, and has also softened the tax blow on the same. The black money hoaders can now pay effective tax - including surcharge and penalty - of about 31 per cent against 45 per cent stipulated in the Income Declaration Scheme 2016.

"We assume that the government is able to raise Rs 870 billion (with Rs 1930 billion disclosed) through the on-going income disclosure scheme that ends September 30," said BofA-ML.

The liquidity impact will be a 3-stage process:

×

If Rs 100 is declared, the 55 per cent, which turns legitimate, will directly enter the banking system to improve liquidity by reducing cash with the public.

The 45 per cent that will be paid as tax to the government should be credited to the treasury bypassing banks initially. As this will increase the government's surplus balances with the RBI, it will contract money market liquidity.

This will enter the banking system when the government spends the monies, say, when it pays out Pay Commission arrears.

2) 7th Pay Commission arrears

The pay hikes for government employees will amount to Rs 1.02 lakh crore, or nearly 0.7 per cent of GDP and will further lubricate the economy in the spending- investing cycle.

"Any tightening due to bunching up of outflows under the tax amnesty scheme in end-September should be offset by the payment of Rs 300 billion-odd of arrears to implement the 7th Pay Commission before the October 30 Diwali," said BofA-ML.

3) FCNR scheme withdrawals

RBI governor Raghuram Rajan had introduced the Foreign-currency non-resident (FCNR) scheme in September 2013 to support the rupee fall at a time when the currency was ruling around all-time low.

A large chunk of these FCNR deposits will mature in September. The possible shortage of dollar, if NRIs redeem their deposits instead of rolling over, may put pressure on the domestic currency.

Banks should be able to fund FCNR outflows from their nostro FX balances, although withdrawal beyond US $10-15 billion, will likely require intervention in the forex market by RBI. 

Logistic Performance Index 2016 released by World Bank

 Logistic Performance Index 2016 released by World Bank

Top Picks :  July 2016 Current Affairs , News Capsule , Exam Specific Current Affairs , 2016 Current Affairs , Current Affairs for Civil Services Exam , Report | Survey

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Who: Logistic Performance Index 2016

What: Released by World Bank

When: 1 July 2016

LPI World Bank on 1 July 2016 released the Logistics Performance Index 2016 titled ‘Connecting to compete: 2016: Trade Logistics in the Global Economy.’ The 2016 Logistics Performance Index (LPI) allows for comparisons across 160 countries.

The 2016 LPI is an interactive benchmarking tool created to help countries identify the challenges and opportunities they face in their performance on trade logistics and what they can do to improve their performance.

Findings of the World Bank’s biennial report

Germany tops the 2016 rankings and is followed by Luxembourg, Sweden, Netherlands, and Singapore. Hong Kong SAR, China was ranked at 9th position while United States was placed at 10th Position in the list of rankings. Mainland China was placed at 27th position.

Syrian Arab Republic was ranked at 160th position in the list.

In context of India

• India’s ranking jumped from 54 in 2014 to 35 in 2016.

• India is ahead of comparatively advanced economies like Portugal and New Zealand.

• In 2016, India’s international supply chain efficiency was at 75 percent of top-ranked Germany. This is an improvement over the 66% efficiency when compared to the leader (again Germany) in 2014.

• The improvement was credited to recent reforms made into practice in the country like

a) Single Window Interface for Trade (SWIFT)

b) Electronic messaging system between Shipping lines and Custodians for electronic delivery order

c) Filing of import and export declarations and manifests online with digital signature

d) Extension of Customs’ risk management system to other regulatory agencies to ensure risk-based inspection

e) Reduction of documents required for export and import

f) Extension of 24x7 customs clearance facilities to 19 seaports and 17 air cargo complexes

g) Removal of limit on the number of consignments released under direct delivery and many more

India’s performance on the core pillars

India’s performance on the six core pillars of logistics performance Index that is used to rank the countries by World Bank in its study is

• The ability to track and trace consignments: From 57 to 33

• The quality of trade and transport infrastructure: From 58 to 36

• The competence and quality of logistics services: From 52 to 32

The six core pillars of logistics used to rank the nations includes

• The efficiency of customs and border management clearance

• The quality of trade and transport infrastructure

• The ease of arranging competitively priced shipments

• The competence and quality of logistics services

• The ability to track and trace consignments

• The frequency with which shipments reach consignees within scheduled or expected delivery times

Logistics Performance Index

The Logistics Performance Index is an interactive benchmarking tool created to help countries identify the challenges and opportunities they face in their performance on trade logistics and what they can do to improve their performance. 

The LPI consists of both qualitative and quantitative measures and helps build profiles of logistics friendliness for these countries. It measures performance along the logistics supply chain within a country and offers two different perspectives: international and domestic.

Rajyavardhan Singh Rathore Hails Sports Authority of India, But Says it Needs to do a Lot

Rajyavardhan Singh Rathore, who clinched a historic silver medal in double trap shooting event at the 2004 Athens Olympics, said the increase in resources and aspirational level has created a perfect atmosphere for sportspersons
Reported By Press Trust of India Updated: July 04, 2016 19:55 IST
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Olympic silver medallist and union minister Rajyavardhan Singh Rathore said he hoped the Sports Authority of India needed to do a lot more for Indian sports to flourish and produce more medal winners.
© AFP
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Rajyavardhan Singh Rathore hailed Sports Authority of India
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Rathore said athletes competing in Olympics must shun hype around them
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Rathore clinched a silver medal in double trap shooting at 2004 Olympics
New Delhi: Olympic silver medallist and Union Minister Rajyavardhan Singh Rathore on Monday complimented the Sports Authority of India for its developmental works but at the same time asked it to do a "lot more" for Indian sports to flourish and produce more medal winners.
The 46-year-old Rathore, who is a union minister of state for information and broadcasting, was guarded when asked if the country can hope to see him as its sports minister in the near future.
"It all depends on the Prime Minister," Rathore said when asked if he can become the sports minister, a day before the NDA government's cabinet reshuffle.
Rathore spoke on the occasion of the launch of Olympians Association of India (OAI), which was graced by over 100 Olympians and all stakeholders associated with it.
"SAI is indeed doing a lot, they are trying their level best, but they need to do lot more to produce more medal winners from India," said Rathore.
Rathore, who clinched a historic silver medal in double trap shooting event at the 2004 Athens Olympics, said the increase in resources and aspirational level has created a perfect atmosphere.
"I congratulate all who have brought all the Olympians under one roof and one platform. These Olympians are all very unique and accomplished. It did take some times for something to come up like this but now since it has come up, it will do a lot of good to the Indian Olympians," he said.
"I would like to expect OAI to do a lot more in helping the Indian Olympians. In a country with such huge population, it is very sad that we don't have enough medallists, we are not organised but we have huge potential. I believe with OAI coming up, it would be much more organised now.
"Every athlete from every country go through problems, but there is a way to deal with it. So, a platform like this for the Olympians can do a lot in that aspect. OAI can bring education online which will help the young athletes to continue with their passions while not compromising on their education," he added.
Rathore said athletes competing in the Olympics must shut out the hype surrounding their participation. "Lastly, I wish all the Rio Olympians a very best of luck. We are sending a strong contingent. Just go there and create as many winning chances. You guys have been performing globally throughout the year, so once you go there, do not treat this as something else and shut out all the unnecessary hype, and focus solely on the Games. Olympics is lot about mental challenge," Rathore said.
"You are ambassadors of this country in Rio. Once you reach there it will be just India you will be representing. Lot of people will want you to win and you will feel the pressure, but give your best shot. I am hopeful that we will have lot more medallists than the last time. "You get this chance once in four years, so go there and perform and make your country proud."
Asked about the improvements made in the sport of shooting, Rathore said a trend has been set in. "In shooting we have won medals in the last three Olympics, a trend has been set in and the standard has been raised. It's a perfect environment for the shooters to raise the bar higher. The environment has become very positive and there are positive examples. Resources have been coming and the training standard has gone up."
Sports Minister Jitendra Singh hoped "a history of sorts" will be created at the Rio Olympics. "It is difficult to say how many medals we can win but I can say it will be in double digit for the first time in history of Indian sports. I feel a history of sorts will be created in Rio," Singh, who took charge of the ministry recently, said.
The minister reiterated the government's support for ailing hockey legend Mohammad Shahid, who is undergoing treatment for liver and kidney problems at the Medanta Hospital in Gurgaon.

From Iceland's Viking clap to All-Blacks' Haka: Five sports traditions you need to know

It was turning out to be quite the tournament for Iceland in the ongoing Euro 2016, beating England 2-1 to book a quarter-final fixture with France, before getting hammered 2-5 by the hosts to finally bow out of the tournament. For a country that has had no major achievement in international football till date, a last-eight finish has helped put them on the world football map.The fairytale of an island of