Daily Current Affairs- 3rd July 2016

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 Daily Current Affairs

Current Affairs Booster of June 2016
Daily Current Affairs- 3rd July 2016

1. Axis Bank opens innovation lab for start-ups in Bengaluru
1. Private sector lender Axis Bank launched an innovation lab on Wednesday to hone start-ups and announced that it will create a dedicated fund to invest in these new-age companies that would benefit its business.
2. The bank launched the 10,000 sq ft lab at Bengaluru with an in-house innovation team, which will host a three-month accelerator programme where companies will get mentored.
3. The bank will work with companies in various stages of maturities, including those at the ideation level, he said, adding that there can be two-way benefit to the lender through the initiative.It can either get existing problems solved by start-ups or integrate their solutions into its business, Anand said, stressing there will not be an exclusivity clause while undergoing the mentorship programme.

2. SBI gets $625 mn from World Bank for solar photovoltaic projects

1. State Bank of India has inked agreements with the World Bank for a $625-million (around Rs. 4,200 crore) facility to support grid connected rooftop solar programme in the country.
2. This will help SBI in financing grid connected rooftop solar photovoltaic (GRPV) projects at very competitive rates.
3. The eligible beneficiaries under the facility would be developers, aggregators and end-users, who wish to set up solar PV projects mainly on commercial, industrial and institutional rooftops.Through this initiative, at least 400 MW solar capacity will be created across the country.

3. Saudi Arabia becomes Associate Member of ICC

1. Saudi Arabia was on Sunday unanimously elected as the International Cricket Council’s (ICC) 39th Associate Member during its full council meeting in Edinburgh.
2. Saudi Cricket Centre (SCC) has been an Affiliate Member of the ICC since 2003 and, as per a 2014 census, boasts of 4,350 cricketers and 80 dedicated cricket facilities.
3. The SCC’s application for Associate Membership had been pre-approved by the ICC development committee during its October 2015 meeting, which was followed by a full application and an ICC inspection in March 2016.

4. Aboriginal woman makes Australian political history

1. A former teacher has made political history by becoming the first indigenous woman elected to Australia’s lower house of parliament, winning a seat for the centre-left Labour party after national polls.
2. Linda Burney, 59, has been a trailblazer, having been the first female Aboriginal to enter the New South Wales state parliament in 2003.
3. She joins the first Aboriginal MP Ken Wyatt of the conservative Liberal Party, who was elected in 2010, and follows in the footsteps of former Senator and Olympian Nova Peris, who was the first indigenous woman in the upper house.

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