1.Boris Johnson will take over as Prime Minister of Britain. He succeeds Theresa May who resigned recently. He is expected to use the opportunity to increase the number of women in full cabinet positions and boost the representation of ethnic minorities.UK has become 1st country to declare a ‘Climate Emergency’.
2.The government has set a target for the installation of Rooftop Solar projects of 40000 MegaWatt by 2022 in the country. The New and Renewable Energy Ministry s implementing Grid Connected Rooftop Solar programme.New and Renewable Energy Minister - RK Singh.
3.The International Monetary Fund cut its annual growth forecast for India to 7% in the year ending 31 March 2020 and 7.2% for FY 2020-21. The downward revision of 0.3% point for both years reflects a weaker-than-expected outlook for domestic demand.IMF has revised its projection for global growth to 3.2%.
4.India's central bank had assigned deputy governor B.P. Kanungo to run the monetary policy portfolio after the resignation of fellow deputy governor Viral Acharya. He would become the sixth member of the Reserve Bank of India's Monetary Policy Committee.Kanungo is also responsible for currency management portfolio.
5.Yes Bank has announced a surrogate lending program ‘Smart Edge’ through which an MSME can avail secured working capital limits from ₹ 1 - 3 Crore in the form of Overdraft, Letter of Credit & Financial Bank Guarantees.‘Experience our Expertise’ is the tagline of YES Bank.
6.Pakistan Cricket Board's chairman Ehsan Mani has been appointed as the head of the ICC's influential Finance & Commercial Affairs committee. He was appointed as the ICC's first F&CA chairman in 1996 and he served as the President of ICC from 2003 to 2006.Salman Naseer has been included in the ICC's Safeguarding panel.
7.Andhra Pradesh became the first state to reserve 75% of jobs in private industrial units and factories for locals. The reservation would be implemented irrespective of whether the private entities get financial or any other help from the government.AP: CM –YS Jagan Mohan Reddy; Governor - Biswabhusan Harichandan.
8.The Central Board of Direct Taxes is celebrated the 159th Income Tax Day on 24th July. In 1860, Income Tax was introduced for the first time in India by Sir James Wilson to compensate for the losses incurred by the British regime.Pramod Chandra Mody is the present Chairman of CBDT.
9.Abhay Singh of Tamil Nadu and Asian Games medallist Tanvi Khanna clinched the men's and women's titles respectively in the sixth Bengal Open squash tournament in Kolkata. Singh defeated Abhishek Pradhan while Tanvi defeated TN’s Aparajitha Balamurukan.Presently, Ali Farag ranked No.1 in PSA World Rankings.
10.Former Australian Davis Cup tennis player, Peter McNamara, has died aged 64. He reached a career-high No 7 in 1983, beat Jimmy Connors and Ivan Lendl to win 2 of his 5 singles titles. He was best remembered for his double’s partnership with Paul McNamee.He reached the semi-finals of Australian Open singles in 1980.
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