Current Affairs for SSC CGL Exams - 03 August 2015

:: Business ::

India to produce at least dozen billionaires among start-ups by 2020, says Assocham

• India is expected to produce at least a score of billionaires and many times millionaires among the start-ups in the next five years with e-commerce, financial services and other technology driven fields generating the maximum interest, an Assocham study on start-ups has pointed out.

• It said the maximum of value creation is expected in the fledgling e-commerce, music-entertainment, payment gate-ways and city transport aggregators such as radio taxis.

• The travel arena, especially in the ticketing and booking has already gained some level of maturity.

• The untapped areas for online business include e-coaching, medical consultations (with fool-proof safety features) and social networking in the cities, while in the rural landscape, the initiative is going to be led by the State sector.

• According to the study, even though the Securities and Exchange Board of India (SEBI) is putting a friendly regime for the start-ups to raise finance from the bourses, it would take some time before funds are raised through this channel.

:: Sports ::

Tendulkar, Dravid, Ganguly, Laxman likely to be named in BCCI conflict of interest list

• The Board of Control for Cricket in India (BCCI) that recently asked all the state cricket associations to sign the agreement of conflict of interest has planned to take the process underway very soon and the consequences might see names of the legends Sachin Tendulakar, Rahul Dravid and Anil Kumble among the members who would be dragged in the issue.

• If BCCI’s this undertaking is put into effect, the international retired cricketers will face difficulty in continuing their respective posts in the cricket board.

• According to a report from The Indian Express, the members of cricket associations will be denied from having any commercial interests associated with the game, comes at a time when the Justice Lodha committee is looking into organisational reforms in the body.

• Here is the list of the BCCI members who may run foul of the undertaking:

Sachin Tendulkar: Member, BCCI’s cricket advisory committee, he is Mentor, Mumbai Indians.

Rahul Dravid: Coach, India U-19 and India ‘A’, he is Mentor, Rajasthan Royals.

V V S Laxman: Member, BCCI’s cricket advisory committee, he is Mentor, Sunrisers Hyderabad.

Sourav Ganguly: Member, BCCI’s cricket advisory committee, and a broadcaster. Last commentary assignment was the 2015 ICC World Cup.

Anil Kumble: Chairman, BCCI’s technical committee, he is Mentor, Mumbai Indians, and co-founder of Tenvic, a company in the business of sports training and consulting.

Brijesh Patel: Chairman, BCCI’s new area development committee, and secretary, Karnataka State Cricket Association. He is Head (Cricket Operations) for Royal Challengers Bangalore.

Ravi Shastri: Director, Indian cricket team, and contracted to the BCCI as commentator. Last commentary assignment was the ongoing Ashes. He is Member, IPL governing council.

Sunil Gavaskar: Contracted to the BCCI as commentator. He runs Professional Management Group, a sports marketing agency that has signed on a number of cricketers, including Mumbai batsman Sarfaraz Khan.

Sanjay Bangar: Coach, Indian cricket team, he also coaches Kings XI Punjab.

Lodha panel seeks five-month extension

• The Justice R.M. Lodha Committee, investigating the 2013 IPL betting controversy, has urged the Supreme Court for a five-month extension to recommend reforms in the Board of Control for Cricket in India (BCCI) and complete its investigation into the alleged involvement of IPL chief operating officer Sundar Raman.

• The Supreme Court-appointed committee, in a judgment on “punish first and debate later, has been given six months to complete its mandate.

• On July 14, the committee ordered a life ban on Gurunath Meiyappan, a team official of Chennai Super Kings and son-in-law of former BCCI president N. Srinivasan, and Raj Kundra, former part-owner of Rajasthan Royals.

• It further issued a two-year ban on India Cements Ltd. and Jaipur IPL Cricket Pvt Ltd., franchisees of CSK and Rajasthan Royals, respectively, for two years.

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