Current Affairs – July, 2015

Latest Current Affairs July, 2015 with Current Affairs, news summary on current events of National and International importance of July, 2015 for Banking, SSC, CLAT, UPSC, State PCS, IBPS, Railways and other Competitive Examinations.

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RBS to sell private banking business in India to Sanctum Wealth

On 29 July, the Royal Bank of Scotland (RBS) has decided to sell its private banking business in India to Sanctum Wealth Management, in line of its prior decision to exit the Indian market.

Britain’s largest public bank Royal Bank of Scotland (RBS) has signed a non-binding framework agreement with Sanctum Wealth Management, which is a start up firm set by Shiv Gupta. He is also the present managing director of RBS’ private banking operations in India.

RBS has four private banking offices in India located in New Delhi, Mumbai, Bengaluru and Chennai.

The reason behind this decision is to formulate RBS into a stronger, more sustainable and simpler business for its aim to consolidate its business in the UK and Western Europe.

Note: RBS’s net balance sheet revealed at the end of December 2014 showed that its operations in India has fell by 1.7 billion Euros to 2.0 billion Euros due to reductions in corporate lending for the sectors like mining & metals, oil & gas and to banks.

Debjani Ghosh takes charge as new MAIT President

Debjani Ghosh took charge as new president of MAIT (the Manufacturers’ Association for Information Technology), the apex body of India’s Information technology hardware industry.

Ghosh is the first woman President of MAIT since its inception 32 years ago. She is vice-president sales and marketing group and managing director of Intel Corporation, South Asia and will succeed Amar Babu the chief operation officer at Lenovo for Asia Pacific and chairman of Lenovo India.

She is working with Intel for more than 19 years and has played a key role in setting up Intel’s education programme for the Asia Pacific region. She was among the 25 Most Powerful Women by Fortune India in 2013.

Gosh also chairs the IT Committee at the Federation of Indian Chambers of Commerce and Industry (FICCI).

About MAIT:

MAIT was set up in 1982, is the top most IT hardware body in India which is associated with Hardware design, training and research and development of IT hardware sector. It is dedicated to develop competitiveness in Indian IT industries to present itself in global market. It promotes and strengthens the practice and the role of information Technology for economic development of the country.