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  1. Urjit R Patel appointed as 24th Governor of Reserve Bank of India.

Union Government on 20 August 2016 appointed Dr. Urjit R Patel as the 24th governor of Reserve Bank of India (RBI). He will be having tenure of three years with effect from 4 September 2016.

He will succeed the present RBI Governor Dr. Raghuram Rajan, the former International Monetary Fund chief economist.

At present, Dr Patel is the Deputy Governor of RBI and is holding this assignment since 2013. With this appointment, he also becomes the eight Deputy Governor to be elevated as the Governor at RBI.

Dr. Urjit R Patel

  • He headed a panel that recommended landmark changes to monetary policy in India, which included a switch to inflation-targeting and the creation of a panel to set interest rates.
  • In January 2016, he was reappointed as the deputy governor in charge of monetary policy, the department he ran since 2013.
  • Earlier between 1990 and 1995, he had worked with the International Monetary Fund (IMF) covering US, India, Bahamas and Myanmar.
  • He carried a doctorate from Yale University.
  • He also carries M Phil from Oxford.

Reserve Bank of India (RBI)

  • RBI was established on 1 April 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934.
  • The Central Office of the Reserve Bank was initially established in Calcutta but was permanently moved to Mumbai in 1937.
  • At present, it regulates banks, prints money and prevents volatility in the foreign exchange market. It is also the government’s banker and lender of last resort.
  1. Kamal Haasan chosen for France’s Chevalier de L’Ordre Arts et Lettres

The Minister of Culture and Communication, France, in the third week of August 2016 selected Kamal Haasan for the Chevalier de l’Ordre des Arts et Lettres (Knight in the National Order Arts and Letters).

The distinction is in recognition of his high level of artistic excellence and his distinguished career achievements.

Haasan is the second Tamil star after thespian Sivaji Ganesan to be honored with the prestigious French award.

About Kamal Haasan

  • Kamal Haasan is an Indian film actor, screenwriter and director.
  • He has won several Indian film awards including four National Film Awards and 19 Filmfare Awards.
  • He has starred in the highest number of films submitted by India for the Academy Award Best Foreign Language Film.
  • His breakthrough as a lead actor came in the 1975 drama Apoorva Raagangal.
  • He won his first National Film Award for his portrayal of a guileless schoolteacher who cares for a childlike amnesiac in Moondram Pirai.
  • He was honoured with the Padma Shri in 1990 and the Padma Bhushan in 2014.

About Chevalier de L’Ordre Arts et Lettres

  • The Ordre des Arts et des Lettres is an Order of France, established on 2 May 1957 by the Minister of Culture.
  • Its purpose is the recognition of significant contributions to the arts, literature, or the propagation of these fields.
  • Its origin is attributed to the Order of Saint-Michel as acknowledged by French government sources.
  1. Former international umpire Subrata Banerjee dies.

Subrata Banerjee, the former international umpire, passed away on 19 August 2016 in Kolkata. He was 71.

Banerjee had a 15-year career at the international level, where he officiated in 13 ODIs.

About Subrata Banerjee

  • Banerjee officiated in men’s and women’s international matches, as well as in age group tournaments, and stood in a women’s Test match.
  • He made his international debut in November 1983 in an ODI between India and West Indies in Baroda.
  • His last international appearance came in May 1998 in a match between India and Kenya in Gwalior.
  • He also worked as an umpire coach for the BCCI in addition to serving as an umpire’s educator.
  • He had also served as a television umpire in ODIs and was the reserve umpire in the India-England Test in Mohali in 2001.
  • His umpiring career spanned for 39 years wherein he officiated in 64 first-class matches.


  1. IOA Chief N Ramachandran bestowed with the Olympic Order award.
  2. Ramachandran, President Indian Olympic Association (IOA), on 21 August 2016 was awarded the Olympic Order for his outstanding services to the Olympic movement.

The President of the International Olympic Committee (IOC), Thomas Bach, formally presented the award to Ramachandran.

About Olympic Order

  • The Olympic Order is the highest award of the Olympic Movement which is awarded in recognition of efforts worthy of merit in the cause of sport.
  • It was established in May 1975 as a successor to the Olympic Certificate by the International Olympic Committee.
  • The Olympic Order originally had three grades gold, silver and bronze, although the bronze grade fell dormant in 1984.

August CA eBook

  • As a tradition, IOC bestows the Olympic Order upon the chief national organiser(s) at the closing ceremony of each respective Olympic Games.
  • The insignia of the Olympic Order is in the form of a collar (or chain), in Gold, Silver or Bronze according to grade. The front of the chain depicts the five rings of the Olympic Movement. A lapel badge, in the form of the five rings in Gold, Silver and Bronze according to grade, is presented to recipients to wear as appropriate.
  • Nadia Comaneci is the only athlete to be awarded the Olympic Order twice, that is, in 1984 and 2004. He is also the youngest ever recipient.

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