GK & Current Affairs: July 5, 2013

1949
The Institute of Chartered Accounts of India (ICAI), India’s premier and world’s second largest accounting body was established in July 1, 1949. The Institute celebrated its 64th foundation day on July 1, 2013.

Dahlan Jumaan Al-Hamad
General Dahlan Jumaan Al-Hamad has been elected as the 6th president of the Asian Athletic Association during the 20th Asian Athletic Association congress meeting held in Pune. Indian Suresh Kalmadi lost 18-20 while seeking re-election to a post he has held for 13 years. He has been at the helm of affairs of the Asian Athletic Association since 2000.

Kerberos and Styx
The two smallest moons orbiting Pluto were officially named by the International Astronomical Union. The moon earlier known P4 has been named Kerberos, after the three-headed dog of Greek mythology. The second one P5, was named Styx. After the mythology river that separates the world of the living from the realm of the dead.

66
India ranked 66th in the Global Innovation Index-2013, published by Cornell University, INSEAD, World Intellectual Property Organization (WIPO) and Confederation of India Industry (CII) as a knowledge partner. The study ranked 142 economies across the world on their innovation capacity and efficiency. India ranked number one in the Central and South Asia region followed by Kazakhstan and Sri Lanka and 11th overall in Innovation efficiency ratio.

Sujatha Singh
Sujatha Singh, a 1976 batch Indian Foreign Service officer, envoy to Germany, will be India’s next foreign secretary. Singh, who will be the third woman to head the services after Chokila Iyer and Nirupama Rao, is the daughter of T V Rajeshwar, the former Intelligence Bureau chief.

Prime Minister, opposition leader of Loka sabha and Chief Justice of India
The cabinet accepted the recommendations of the ministerial group, enhancing the CBI’s autonomy through a collegium system to appoint the agency’s director and instituting an oversight panel to ensure impartiality of investigations. The collegium will comprises the Prime Minister, opposition leader of Loka sabha and Chief Justice of India. This will dilute the monopoly of the government in the appointment of the sensitive post of the CBI director.

Rangachary committee
Rangachari Panel was constituted to bring about clarity on taxation matters pertaining to development centres and IT sectors. The first report of the committee made public recently. To boost the information technology sector, the Rangachary Committee has recommended that the profit split method (PSM), which leads to higher taxation, should be used with extreme care and cautions.

UNCTAD
United Nations Conference on Trade and Development publishes the World Investment Report annually since 1991. The report covers the latest trends in foreign direct investment around the World and analysis in depth one selected topic related to foreign direct investment and development.

Delhi
Annashree Yojana is a cash transfer scheme launched by Delhi government. Under this scheme monthly cash subsidy of Rs 600 will be directly transferred into Aadhaar-
linked bank account of the senior-most female member of two lakh poor families. Recently Delhi government agreed to relax the eligibility criteria of this scheme. As per new criteria for Annashree scheme, a household whose head has been a resident of Delhi for at least three years and annual family income is not more than 1 lakh rupees is eligible for benefit under the scheme.

Vandana Gandhi
Vandana Gandhi became the first ever Indian woman to receive Dubai Government’s coveted Emirates Woman Award for business excellence. Vandan Gandhi is Founder & CEO of British Orchard Nursery, Middle East only ISO-certified nursery chain.

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