Daily NEWS Update - 21th July 2015

1. BRICS bank launched in China as alternative to World Bank, IMF
i. A new USD 100 billion bank floated by BRICS nations, including India, as an alternative to the World Bank and IMF to boost infrastructure funding in the emerging economies and offer them tailor-made services was launched here today.

ii. The opening ceremony of the New Development Bank (NDB) was held here in China’s financial capital. Chinese Finance Minister Lou Jiwei, Shanghai Mayor Yang Xiong and the bank’s President K V Kamath attended the opening ceremony.
iii. Kamath, 67, who will be the bank’s President for the first five years, said he was confident to deliver people’s expectation of the new bank.
iv. BRICS economies  Brazil, Russia, India, China and South Africa launched the multi-billion dollar development bank at the 7th BRICS summit held in the Russian city of UFA on July 8 amid efforts to finance infrastructure projects, mainly in member countries.

2. Union Government launches National Career Counselling portal
i. Union Government has launched National Career Counselling Portal in a bid to modernize all government-run employment exchanges.

ii. It was launched by Prime Minister Narendra Modi under the aegis of National Career Service (NCS) project of Union Ministry of Skill Development and Entrepreneurship.
iii. The web portal will be a one-stop platform for both job providers and job seekers where registration can be done online. It will provide basic platform for searching and applying for jobs on the portal.
iv. It will also provide candidates career-related counseling either by its helpline numbers or visiting these centres along with other facilities like job posting, aptitude assessment, job matching, training providers, skill courses and guidance on self-employment and entrepreneurship.

3. Bhanu Pratap Sharma appointed as Chairperson of FSSAI
i. Union Government has appointed Bhanu Pratap Sharma as Chairperson Food Safety and Standards Authority of India (FSSAI).

ii. Presently, he is Health and Family Welfare Secretary was given additional charge of FSSAI for three months. Sharma is an IAS officer of 1981 batch from Bihar cadre.
iii. FSSAI is a nodal statutory agency responsible for protecting and promoting public health in India through the regulation and supervision of food safety. FSSAI was established under the Food Safety and Standards Act, 2006 and operates under aegis of Union Ministry of Health & Family Welfare.
iv. FSSAI has been established to lay down science based standards for various food products in order ensure availability of safe and wholesome food for human consumption. It also regulates the manufacture, storage, distribution, sale and import of food products for human consumption.

4. Indian Railways and Odisha Government signed MoU for Dasappla-Bolangir Railway Line
i. The Union Railways Ministry and the Odisha Government on 20 July 2015 signed Memorandum of Understanding (MOU) for implementation of Dasapalla-Bolangir segment of Khurda Road-Bolangir New Broad Gauge Railway Line on cost sharing basis.

ii. The agreement was signed by Ved Parkash Dudeja, Executive Director (Works) Ministry of Railways and Sanjay Rastogi, Commissioner-cum-Secretary, Commerce & Transport Department, Odisha Government.
iii. The project will be completed in three years of time after handing over of the land by the state. This Railway line running across the state from east to west will usher the six districts- Khurda, Puri, Nayagarh, Boudh, Subarnapur and Bolangir into a new era of development.
iv. The signing of MoU by Odisha Government will help in accelerating the development in the districts falling on Khurda-Bolangir line and will help create job opportunities in this naxal-affected state.

i. The Vice President of India Shri M. Hamid Ansari released a book entitled Locale, Everyday Islam and Modernity authored by Shri M. Raisur Rahman at a function here today.

ii. Dissolving the distinctions between centre and periphery, this book presents the Qasbahs of colonial India as vital and vibrant centres of intense intellectual and cultural activity.
iii. The book demonstrates that the emergence of modernity among Muslims was a process during their colonial encounter in which Qasbah residents were active agents, and the Islam that emerged was that of everyday living.

6. Now an exclusive mobile app for Vat, GST and Service Tax
i. The rapidly changing indirect taxation system in India has made it essential for every businessman or professional to be conversant in the basics of the indirect taxation. In the current high tech era, everyone is a tech savvy so it is more convenient to use a smart phone and browse the information rather than searching the information from the pile of books.

ii. Keeping in mind the above, CA Atul Kumar Gupta along with his team has made an endeavor to acquaint the common man apart from the professionals, regarding the dynamic indirect taxation system, through mobile application TAXO.
iii. The idea behind TAXO is to update and educate not just the taxation professionals but every one on ongoing basis by providing prompt and live access to the changing business environment in India.
iv. TAXO is a platform where the general public can get an insight into the basic fundamentals of Indirect Taxation.

7. At 50, model-actor Milind Soman wins Ironman title in ‘‘toughest’ triathlon in Zurich
i. Model-actor Milind Soman, who turns 50 in November this year, has won the Ironman title at a triathlon held in Zurich in Switzerland on July 19 in which over 2,000 participants this year included seven Indians.

ii. The triathlon, organised by World Triathalon Corporation, includes a 3.8-km swim, 180.2-km cycle ride and 42.2-km run and is widely regarded as the world’s toughest race, which has to be completed in 16 hours by participants for an Ironman title.
iii. Of the seven Indians who participated in the race this year, five completed the race. Successfully leading the contingent was 11-time winner of Ironman title, Pune’s Dr Kaustubh Radkar, who completed the race in 12 hours and 32 minutes. This is Dr Radkar’s 12th Ironman title which now qualifies him for the Hawaii Ironman World Championship to be held in 2017.
iv. The event saw seven-time reigning champion Ronnie Schildknect taking his eighth title and declared the overall winner.