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1)Rio Olympic 2020 inaugurated in a grand ceremony

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The Olympic games were inaugurated in a grand ceremony at Maracana Stadium in Rio De Janeiro, Brazil.

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Brazilian 2004 Athens Olympics marathon bronze winner Vanderlei de Lima lit the Olympic lamp.

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International Olympic Committee (IOC) head Thomas Bach and UN Secretary-General, Ban Ki Moon was also present at the ceremony.

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2)Nita Ambani appointed to member of International Olympic Committee

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Founder of Reliance Foundation, Nita Ambani has been appointed as an individual member of International Olympic Committee (IOC).

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She is the first Indian woman to be elected as an individual member of IOC.

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Sir Dorabji Tata was the first Indian to be elected to the IOC.

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 IOC is the world body which governs Olympic sports.

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3)Five new sports to be included in Olympic 2020, Tokyo

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Five new sports will be included from Olympics 2020 to be held in Tokyo, Japan. The sports are as follows: baseball/softball, karate, sport climbing, surfing and skateboarding.

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In 2016, Golf and Rugby Seven have been included.

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4)Sachet portal launched by RBI to curb illegal money collection by companies

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RBI launched a portal to check illegal money collected by companies under dubious schemes called Sachet.

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The Sachet portal which means ‘aware’ in Hindi will help citizens lodge complaints with regulators.

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This will also help regulators share market intelligence among themselves through the State Level Coordination Committee (SLCC) in real time.

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SLCCs are state level committees which comprise of different regulator like SEBI, Registrar of Companies, IRDA among others.

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5)Yousef Chahed is new PM of Tunisia 

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Yousef Chahed was appointed as Prime Minister of Tunisia.

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He is an academic with a background in agricultural sciences.

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Chahed replaced Habib Essid, after the latter lost a no confidence motion.

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6)Tarun Ramadorai committee on household finance constituted by RBI

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Objectives of Ramadorai committee are:

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Whether, how, and why the financial allocations of Indian households deviate from desirable financial allocation and behaviour, such as why a large portion of household allocation goes to gold. 

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Assess role of financial technologies and products.

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Will evaluate the design of new systems and the redesign of existing systems of incentives and regulations to encourage and enable better participation by Indian households in formal financial markets.

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Tarun Ramadorai is a professor of Financial Economics at University of Oxford.

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7)World Breastfeeding Week celebrated from August 1 to 7, 2016

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World Breastfeeding Week (WBW) is being celebrated from August 1 to 7, 2016.

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The theme for the week was Breastfeeding: A key to Sustainable Development.

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WBW celebrates the Innocenti Declaration made by WHO and Unicef in August 1990 to support and encourage breastfeeding.

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8)Vinod Rai steps down from IDFC Bank’s Board

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Vinod Rai stepped down from IFDC Bank’s Board.

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This was done to avoid a conflict of interest as Rai is also Chairman of Bank Board Bureau (BBB).

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But Rai will continue as non-executive independent chairman of IDFC, a private sector lender.

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9)Gujarat HC scraps 10% quota for economically backward classes among unreserved category

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Gujarat high court termed 10 % quota for economically backward class in unreserved category in higher education and state government jobs as unconstitutional.

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The order termed the reservation as unconstitutional as total reservation exceeded 50 percent.

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There has been no survey or report on the basis of which this quota was granted.

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10)CSIR develops Nutrice cream

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Nutrice cream is an Omega-3 and Vitamin-E enriched frozen nutritional dessert made from vegetarian source.

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Central Food Technological Research Institute (CFTRI), Mysuru has developed the cream.

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The cream is made from Chia seeds which has highest content of Omega-3 fat from a vegetarian source.

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