Current Affairs 10th July 2015

Current Affairs 10th July 2015 - Important Points

• India signed Inter Governmental Agreement to implement FATCA with which country - USA

• Indian signed MoU on cooperation to establish PACESetter Fund with which country - USA

• Where was 7th BRICS Summit held - Ufa (Russia)

• In which state India's first Earthquake Warning System was successfully installed - Uttarakhand

• Which software giant signed Multi-Million Euro Deal with Deutsche Bank - Infosys

• Bashar Navaaz passed away, he was a noted - Poet

Current Affairs 10th July 2015 - Details

India signed Inter Governmental Agreement to implement FATCA with which country - USA

On 9th July 2015, India and United States inked IGA (Inter Governmental Agreement) to implement the FATCA. This was inked with an aim to promote transparency on tax matters between the two countries.

Revenue Secretary Shaktikanta Das and US Ambassador to India Richard Verma signed this IGA in New Delhi.

As per the IGA, FFIs in India will be required to report tax information about US account holders directly to the Indian Government which will, in turn, relay that information to the IRS.  The IRS will provide similar information about Indian account holders in the United States. This automatic exchange of information is scheduled to begin on 30 September 2015.

Full Form of FATCA is - Foreign Account Tax Compliance Act

Indian signed MoU on cooperation to establish PACESetter Fund with which country - USA

On 30t June 2015, A MoU was inked between India and USA on cooperation to establish the PACESetter Fund in New Delhi, which was signed by Upendra Tripathy, Secretary, Ministry of New and Renewable Energy (MNRE) and Richard Verma, United States Ambassador to India.

This fund will be supporting the Promoting Energy Access Through Clean Energy (PEACE) track of the USA-India Partnership to Advance Clean Energy (PACE).

Where was 7th BRICS Summit held - Ufa (Russia)

Seventh BRICS summit was held from 8th July 2015 to 9th July 2015 in the Russian city of Ufa in Bashkortostan. Theme of BRICS summit was "BRICS Partnership - a Powerful Factor of Global Development".

Prime Minister Narendra Modi from India, Dilma Rousseff from Brazil, Vladimir Putin from Russia, Xi Jinping from China  and Jacob Zuma from South Africa attended this summit.

Do You Know : 

• BRICS is group of five countries viz B- Brazil, R- Russia, I- India, C- China and S- South Africa.
• Next BRICS summit will be held in India in 2016.

In which state India's first Earthquake Warning System was successfully installed - Uttarakhand

India's first Earthquake Warning System (EWS) was successfully installed in Uttarakhand, Dehradun, after this installation Uttarakhand became first Indian state to install a system that can detect earthquakes and disseminate warnings. Italian firm Space Dynamics has designed and manufactured this system which is already being installed in Japan, US and Italy.

Which software giant signed Multi-Million Euro Deal with Deutsche Bank - Infosys

On 8th July 2015, Indian software gaint Infosys inked a multi-million euro deal with Deutsche Bank. Infosys which is second largest IT services firm of India will be providing services like application maintenance, package implementation and testing services across the Deutsche Bank Group.

Apart from these services Infosys will be a strategic partner under Deutsche Bank's Supplier Partnership Programme.

Do You Know : 

Deutsche Bank is a German global banking and financial services company and its headquarters are situated in Deutsche Bank Twin Towers in Frankfurt. More than 10000 employees are working for Deutsche Bank and it has operations in more than 70 countries.

Bashar Navaaz passed away, he was a noted - Poet

On 9th July 2015, Noted poet and critic Bashar Navaaz passed away in Aurangabad, Maharashtra at the age of 80. He poetry is very much popular in India and Pakistan so he also also famous with the name of Indo Pak shayar.

He also wrote many gazals in hindi which were used in Hindi movies like Bazaar, Jaane vafaa, Loree, Tere Shahar me etc.