Daily Current Affairs- 26 July 2016

Dear Readers, we are providing Today's important current affairs of Competitive Exams specially for Bank and SSC.

1. SBI launches Instant Money Transfer facility at ATMs
1. State Bank of India (SBI) has launched an Instant Money Transfer (IMT) Payment System on its ATMs in India.
2. IMT enables a payment up to Rs. 10000 to be made from any SBI bank account to a person using just his/her mobile number as the identifier. The recipient of this payment can withdraw funds instantly from an IMT-enabled ATM of SBI without using a debit card.
2. IMT is a payment system launched in India by Empays Payment Systems. It enables a payment to be made to a mobile phone from a bank account. There is no requirement for the beneficiary to have a bank account. The receiver can obtain the funds immediately from any IMT-enabled ATM.
3. Using IMT, the State Bank Group will be able to expand its reach to those sections of the population who are either unbanked or do not have access to their bank accounts. Additionally, it offers a new form of convenience payment to the emerging younger generation as SBI seeks to address them through new options.

2. Myntra buys Jabong to create India's biggest fashion e-tailer
1. Online fashion marketplace Myntra announced that it has acquired its rival Jabong from Global Fashion Group to create India’s biggest fashion shopping destination.
2. The acquisition of Jabong further strengthens Myntra and its parent company Flipkart’s position as the undisputed leader in fashion and lifestyle segment in India.
Jabong is among India’s major fashion multi-brand e-store with more than 1,500 on-trend international high-street brands, sports labels, Indian ethnic and designer labels and over 150,000 styles from over a thousand sellers.
3. Myntra and Jabong are all set to define the next generation of online shopping with a combined base of 15 million monthly active users and offering the best of brands to Indian consumers. Some of the most iconic global brands that will be exclusive to both the platforms include Dorothy Perkins, Topshop, Tom Tailor, G Star Raw, Bugatti Shoes, The North Face, Forever 21, Swarovski, Timberland and Lacoste

3. Union Government plans to redraw Red Corridor
1. Union Government has decided to reduce the number of Maoist-affected districts by about a fifth.
As per reports, about 20 out of 106 districts described as being Maoist-affected and part of the Red Corridor may soon no longer be part of the list.
2. Dropping of these districts from the list will result in drying of the financial aid given to the districts. The aid was being provided to the tune of 30 crore rupees annually for various developmental work.
3. Highlights
• The red corridor expands in 106 districts of 10 states of the country. The ten states are Bihar, Jharkhand, Andhra Pradesh, Maharashtra, Odisha, Telangana, West Bengal, Madhya Pradesh, Uttar Pradesh and Chhattisgarh.
• These districts are described as those affected by Left Wing Extremism (LWE) and constitute the Red Corridor.

4. Sanjiv Puri appointed as Chief Operating Officer of ITC Ltd
1. Sanjiv Puri was appointed as the Chief Operating Officer of Kolkata-based ITC Ltd. with immediate effect. He will be responsible for running day-to-day operations of the company as COO, a position created for the first time at ITC.
2. With this appointment, Puri has emerged the front-runner to succeed ITC Chairman YC Deveshwar, who will step down as Executive Chairman of ITC in February 2017. He will continue as Non-Executive Chairman for at least three years thereafter.

5. India becomes first contributor to UN Trust Fund for sexual abuse victims
1. The United Nations Department of Field Support (DFS) announced that India provided 100000 US dollar for the Trust Fund in support of victims of sexual exploitation and abuse.
2. With this, India has become the first country in the world to make a contribution to the Trust Fund.The UN Secretariat had requested voluntary contributions to the Trust Fund when it was established.

6. Solar Impulse 2 completes first round-the-world journey
1. The first round-the-world solar powered flight by Solar Impulse 2 was completed on 26 July 2016 after the aircraft landed successfully in Abu Dhabi.
2. The plane has travelled 26744 miles since setting off from Abu Dhabi. The aircraft has racked up 558 hours of flight time.

7. Buddha Rashmi Mani appointed as Director General of National Museum
1. Noted archaeologist Buddha Rashmi Mani was on 25 July 2016 appointed as Director General of National Museum for three years or till attaining the age of 70 years. His appointment was approved by Appointments Committee of Cabinet.He had retired as Additional Director General of the Archaeological Survey of India (ASI) in 2015.