Current Affairs 26th July 2016

Current Affairs 26th July 2016 - Important Points

• Flipkart acquires online fashion portal – Jabong
• Institutes of Technology (Amendment) Bill, 2016 passed by - Lok Sabha
• Who has been appointed as Director General of National Museum - Budha Rashmi Mani
• G-20 Finance Ministers pledge to boost - Global Economy

Current Affairs 26th July 2016 - Details

Flipkart acquires online fashion portal – Jabong

Among Important National Current Affairs, on 26th July 2016 Flipkart Ltd acquired online fashion portal Jabong through its unit Myntra in a move to maintain its position as the market leader. Till now, the financial details of the deal were not revealed.

No doubt, this acquisition will strengthen Flipkart Group's position in Fashion and Lifestyle segment to compete with Amazon Fashion in India.

Know About Jabong – 

• In year 2012, Jabong was founded.

• In September 2014, Jabomg’s investor Rocket Internet merged Jabong with four online fashion retailers in Latin America, Russia, the Middle East, South-east Asia to create Global Fashion Group (GFG).

Institutes of Technology (Amendment) Bill, 2016 passed by - Lok Sabha

Institutes of Technology (Amendment) Bill, 2016 or opening six new IITs has been launched by The Lok Sabha. 

This Bill is meant to amend the Institutes of Technology Act, 1961 to add six new IITs as institutions of national importance.

Do You Know – 

• Palakkad (Kerala), Tirupati (Andhra Pradesh), Goa, Dharwar (Karnataka), Bhilai (Chhattisgarh) and Jammu (Jammu and Kashmir) are the new states where six new IITs will be started.

• All these institutions will be declared as institutions of national importance.

Who has been appointed as Director General of National Museum - Budha Rashmi Mani

Among Important National Current Affairs, Dr. Budha Rashmi Mani who is a Former Archaeological Survey of India (ASI) official was appointed as Director General (DG) of National Museum. 

Budha Rashmi Mani was appointed by the Appointments Committee of the Cabinet (ACC) presided by Prime Minister Narendra Modi. 

Budha Rashmi Mani will be seen handling this responsibility for 3 years or till attainment of age 70.

G-20 Finance Ministers pledge to boost - Global Economy

Among Important National Current Affairs, The Finance Ministers from the Group of 20 (G-20) major economies have pledged to boost the global economy, which is showing a weak recovery. 

However, this announcement was made at the end of the two-day meeting of G-20 Finance ministers and Central Bank Governors meeting, which is held in the Chinese city of Chengdu.