Yuvayana Current Affairs Digest Pdf - July 2015.pdf

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Yuvayana Current Affairs Digest – July 2015 www.yuvayana.org ► The New Development Bank (NDB) created by Brazil, Russia, India, China and South Africa (BRICS) nations formally started its operations from its headquarters in Shanghai, China. Chinese Finance Minister Lou Jiwei, Shanghai Mayor Yang Xiong and the bank’s first President K V Kamath from India attended the opening ceremony. About New Development Bank (NDB) Agreement for establishing NDB was signed during the 6th BRICS Summit being held in Fortaleza, Brazil in April, 2014. It was formally launched at the 7th BRICS summit held in Ufa, Russia in July 2015. Purpose: To fund infrastructure projects in the emerging economies. It is seen as an alternative institute to west dominated World Bank and the International Monetary Fund (IMF). Capital: It will have initial capital of US 50 billion dollars and will be raised to US 100 billion dollars within the next couple of years. Each members role: They will have an equal say in the bank’s management, regardless of GDP size and contribute an equal share in establishing a startup capital. President: Eminent banker Kundapur Vaman Kamath from India is President of Bank for the first five years i.e. till 2020. ► BCCI constituted IPL working group to study the verdict of the Justice RM Lodha Committee. Decision in this regard was taken in the IPL governing council meeting held in Mumbai after the Lodha committee ruled the suspension IPL franchise Chennai Super Kings (CSK) and Rajasthan Royals (RR) for two years on the verdict of 2013 IPL Betting Scandal. The working group will consist of four members including Rajiv Shukla– IPL chairman Anurag Thakur– BCCI secretary Anirudh Choudhury- BCCI treasurer and Sourav Ganguly- former India Cricket team captain. The working group will be assisted by the BCCI’s legal head Usha Nath Banerjee and give their recommendations to the Governing Council of BCCI within next 6 weeks. The IPL spot-fixing scandal came into the light in 2013 after the Delhi Police arrested Rajasthan Royals cricketers S Sreesanth, Ankeet Chavan and Ajit Chandila. They were allegedly for indulging in betting and spot-fixing during the 6th edition of IPL. Later Supreme Court had constituted Committee headed by former Chief Justice of India R M Lodha to look into this matter. www.edu.yuvayana.org www.test.yuvayana.org
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