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Tuesday, October 13, 2015

Current Affairs Update – 13th October, 2015

Hello and welcome to ExamPundit. Here are the Important Current Affairs of 13th October, 2015. These are Important for the upcoming IBPS PO Mains Exam and IBPS Clerk Exam 2015.

India –

Green Indian Mission Plans approved for four states

  • National Executive Council (NEC)  of the National Mission for a Green India (GIM) on 9 October 2015 approved the Perspective Plans & Annual Plan of Operations (APOs) submitted by four States, namely Mizoram, Manipur, Jharkhand and Kerala.
  • The plans were approved during the second meeting of NEC of GIM.
  • Approval was granted for alternative energy devices such as biogas, solar devices, LPG, biomass-based systems and improved stoves for 27032 households for the financial year 2015-16 and 81233 households for the total plan period. This will help in reducing pressure on forests, gaining carbon benefits, along with health and other associated benefits.

Highlights of the mission
  •  The plans have been approved with a total financial outlay of 90202.68 lakh rupees for a period of 5 to 10 years.
  •  APOs of 11195.32 lakh rupees have been also approved for financial year 2015-16.
  •  The total forest and non-forest area taken up in the four states under GIM during the total plan period will be 108335 hectares.
  •  Out of the total forest and non-forest area, 81939 hectares will be improving the density of existing forests and 16396 hectares will be new areas.

Gujarat proposed 15375 crore rupees AMRUT Plan to ensure basic infrastructure in 31 mission cities

  • The Gujarat Government on 12 October 2015 proposed a 15375 crore rupees comprehensive action plan to ensure basic infrastructure in 31 cities under Atal Mission for Rejuvenation and Urban Transformation (AMRUT) in the next five years.
  • Out of this proposed amount, 42 percent will be spent on providing water supply connections to all urban households in 31 AMRUT cities, 30 percent will be spent on providing sewerage connections to all households and 12 percent will be spent on ensuring drainage services and the rest on urban transport and provision of green spaces and parks.
  • Keeping in mind the low availability of sewerage network services in the Mission states, the state government also intends to set up 19 STPs(Sewerage Treatment Plants) at a total cost of 4721.57 crore rupees to create a total treatment capacity of 869 million litres per day.

India funded 5 million US dollars grant to Palestine as Budgetary assistance

  • India on 12 October 2015 granted a cheque of 5 million US dollars to the Palestinian government as a budgetary support. The grant was handed over by Indian President Pranab Mukherjee  during his visit to Palestine.
  • Both countries also announced five projects worth 17.79 million US dollars aimed at capacity building in the Palestinian territories. The projects include a 12 million US dollars techno park, a 4.5 million US dollars Palestine Institute for Diplomacy and a 1 million US dollars India-Palestine Centre for Excellence in Gaza.
  • Mukherjee also reiterated India’s support to the Israeli-Palestinian crisis based on negotiations with UN Security Council resolutions.

India signed contract for microlight aircrafts with Slovenian firm Pipistrel

  • India on 12 October 2015 signed a deal, worth 105.5 crore rupees, with Pipistrel, a Slovenian firm, for 194 micro-light aircraft to be used by Indian Air Force, the Navy and the National Cadet Corps (NCC).
  • The contract has been signed with the firm for Virus SW 80/100. However, the Indian version of the aircraft will be renamed as Garud.
  • The deal is signed after four years of protracted negotiations with the Slovenian firm meeting all the requirements put forth by India.
  • As per the deal, the entire quantity of 194 aircrafts must be delivered within 30 months from the day of the first delivery.
  • The contract incorporates an option for an additional 100 aircrafts within the third year if the buyer requests them.
  • It was in 2011 that India issued a Request for Proposal (RfP) for the micro-light aircrafts.

Centre drafts rules to regulate Uber, other ride-hailing firms

  • India has drafted guidelines to regulate ride-hailing companies, including U.S.-based Uber and its domestic rival Ola, for the first time laying down federal rules that could end months of uncertainty on how they operate in the country.
  • The federal transportation ministry has asked states to ensure companies operate with call centres and their taxis follow emission norms, according to a six-page advisory issued last week and reviewed by Reuters on Tuesday.
  • The guidelines also call for extensive background checks of drivers to ensure passenger safety. Any person who has in the past been convicted of any "cognizable offence" under India's criminal laws should not be allowed to become a driver.
  • Although it is not yet clear whether the guidelines will be binding on the states and much uncertainty still remains, Uber and Ola both welcomed the move as a step in the right direction.
  • Ola, backed by Japan's Softbank, called the advisory a "progressive directive" that will help it work closely with different states. Uber said the guidelines were a "big leap" in recognising regulations for such companies.

Appointments –

Infosys appointed Ranganath D Mavinakere as CFO

  • Indian IT giant, Infosys, on 12 October 2015 appointed Ranganath Dwarakanath Mavinakere as its Chief Financial Officer (CFO). The appointment came after the resignation of Rajiv Bansal from the post.
  • However, Bansal will continue as an advisor to the CEO and the Board through 31 December 2015 to provide a smooth transition.
  • Mavinakere has about 18 years of experience in banking and IT services industries.
  • Before the appointment, he held the positions of Executive Vice President and the Head of Strategic Operations, and looked over the functions of Strategy Planning, Risk Management, Corporate Marketing, and M&A. He also led the cost optimization initiative of the company as part of the Chairman’s Office.

P S Jayakumar Takes Over As MD And CEO of Bank of Baroda

  • P S Jayakumar, the former chief executive of VBHC Value Homes, today took charge as the new MD and CEO of the state-owned Bank of Baroda for three years.
  • "Bank of Baroda has said P S Jayakumar has assumed the charge of the office of Managing Director and CEO, Bank of Baroda, on October 13, 2015," it said in a filing on BSE.
  • Jayakumar, 53, has taken over as the chief of BoB at a time when the bank is under the investigation glare for an alleged fraud and black money transactions worth over Rs 6,000 crore.
  • Last week, it was alleged that a whopping Rs 6,172 crore was remitted from Bank of Baroda to Hong Kong camouflaged as payments for non-existent imports like cashew, pulses and rice. The amount was allegedly deposited in 59 accounts in cash as advance for imports that never existed.
  • However, the bank's Executive director B B Joshi yesterday clarified that the amount being mentioned was "exaggerated" and the actual amount involved was only half of it.

RPower appoints N Venugopala Rao as its Chief Executive Officer

  • Reliance Group company Reliance Power has appointed N Venugopala Rao as its Chief Executive Officer (CEO). Rao, an MBA in Finance & Marketing, is a power sector professional with over 34 years of experience in project development, project finance, project  planning, contracts management and Finance & Accounts.
  • Before his appointment as the Reliance Power CEO, Rao was CEO of Sasan Power Limited, a 100% subsidiary of the company, which has developed Sasan Ultra Mega Power Project.

Awards & Honors –

Veteran filmmaker I.V. Sasi honoured with J.C. Daniel Award

  • Renowned Malayalam filmmaker I.V. Sasi on 12 October 2015 was awarded with the prestigious J.C. Daniel Award for the year 2014 for his contributions towards the Malayalam entertainment industry.
  • Sasi has made over 150 Indian films in various languages and genres. However, he is mostly known for his South Indian films.
  • He started his directorial career officially with his first film Ulsavam. He has directed more than 170 films over a span of 34 years. Most of his movies came out as super hits and some of them are even classified as classics or good cinema.
  • In 1982, his film Aaroodam won the Nargis Dutt Award for the best feature film on National Integration.


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