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Top 5 Current Affairs: 16 July 2018

Jul 16, 2018 18:11 IST
Top 5 Current Affairs: 16 July 2018

France crowned World Champions after 20 years, Croatia’s Luka Modric wins Golden Ball

France on July 15, 2018 clinched their second FIFA World Cup title, beating Croatia 4-2 in the highest-scoring final since 1996. The win comes for France, 20 years after they claimed their first FIFA title- in 1998.

This was the first time that Croatia made it to the finals of the football World Cup. It is also the smallest country to reach the final in the modern era. The team’s previous best performance was in 1998, when again they had lost to France in the semi-finals. The team then failed to get past the group stage in 2002, 2006 and 2014 World Cup and did not qualify in 2010.

India becomes Regional Head of Asia Pacific Region in WCO

India has become the Vice Chair of the Asia Pacific Region of World Customs Organisation (WCO) for a period of two years, from July 2018 to June 2020.

The WCO has divided its membership into six Regions, among which each of the six regions is represented by a regionally elected Vice-Chairperson to the WCO Council. The position of Vice Chair of the Asia Pacific Region of WCO will enable India to take on the leadership role in the organisation.

Currently, WCO represents 182 Customs administrations across the globe that collectively process approximately 98 per cent of world trade.

Government constitutes 10-member committee to review offences under Companies Act, 2013

The Ministry of Corporate Affairs (MCA) has constituted a 10 Member Committee to review the penal provisions in the Companies Act, 2013.

The Commerce Ministry seeks to review offences under the Companies Act, 2013, as some of the offences may be required to be decriminalised and handled in an in-house mechanism, where a penalty could be levied in instances of default.

The decision will allow the trial courts to pay more attention on offences of serious nature.

LIC board approves acquisition of up to 51 per cent stake in IDBI Bank

The Life Insurance Corporation of India's (LIC's) board has approved acquiring up to 51 per cent stake in state-run IDBI Bank.

Since Insurance Regulatory and Development Authority of India (IRDAI) has already given its approval to LIC for the stake purchase, the corporation will now approach the regulator for the securities market India, Securities and Exchange Board of India (SEBI).

Till end of June 2018, LIC owned about 8 per cent of IDBI Bank, while the federal government owned 86 per cent.

Union Government to launch scheme to test sports ability of 2-3 crore children across country

The Union Minister of State for Youth Affairs and Sports Rajyavardhan Rathore has said that the Central Government will soon launch an ambitious scheme to test sports ability of two to three crore children across the country.

Each of the selected children will be provided with a scholarship of five lakh rupees per annum for eight years to help groom their sports talent.

 

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