Hello and welcome to ExamPundit. Here are the important Current Affairs of 7 April, 2016. These are important for the upcoming SBI Clerk and NABARD Assistant Manager exam 2016.
SIDBI signs MoU with LIC to promote startups and MSMEs
- The Small Industries Development Bank of India (SIDBI) on Thursday signed a memorandum of understanding with the Life Insurance Corporation of India to supplement funds under its fund-of-funds operation that aims to provide venture capital for medium and small enterprises.
- SIDBI set up the India Aspiration Fund (IAF) under its fund-of-fund operations, with a corpus of Rs 2,000 crore after the budget announcement of 2015. The IAF aims to provide a boost to startup venture capital in the country.
- A committee instituted by SIDBI under IAF has so far cleared proposals for an aggregate commitment of around Rs 1,400 crore to 38 venture capital funds.
CCEA approved Andrew Yule proposal to convert Bank of Baroda’s loan into equity
- The Cabinet Committee on Economic Affairs (CCEA) on 6 April 2016 cleared conversion of Working Capital Term Loan (WCTL) of Bank of Baroda's (BoB) 29.91 crore rupees loan to Andrew Yule & Co. Ltd. (AYCL) into equity shares.
- The approval was granted during the CCEA meet chaired y Prime Minister Narendra Modi.
- The price of equity shares will be based on market price determined as per Securities and Exchange Board of India (SEBI) Guidelines on the date of acquiring of shares by BoB with face value of 2 rupees per share.
Union Cabinet gave ex-facto approval for implementation of One Rank One Pension
- The Union Cabinet chaired by the Prime Minister Narendra Modi on 6 April 2016 gave its ex-post facto approval for implementation of One Rank One Pension (OROP).
- Implementation of OROP will enhance the pension for the pensioners/family pensioners of Defence Forces.
The details are as follows:
- The benefit will be given with effect from 1 July 2014.
- Pension will be re-fixed for pre 1 July 2014 pensioners retiring in the same rank and with the same length of service as the average of minimum and maximum pension drawn by the retirees in the year 2013. Those drawing pensions above the average will be protected.
- The benefit would also be extended to family pensioners including war widows and disabled pensioners.
Union Cabinet approved Funding of exports to Iran through Export Development Fund of Exim Bank
- The Union Cabinet chaired by the Prime Minister Narendra Modi on 6 April 2016 gave approval for increasing the framework agreement between Exim Bank of India and a consortium of Iranian banks lead by Central Bank of Iran.
- It would help in financing the purchase of goods and services from India to 3000 crore rupees from 900 crore rupees.
- This will be done by utilising the Export Development Fund (EDF). The proposal provides for domiciling two contracts of export of steel rails by STC and for the Chabahar Port Development project previously approved by the Cabinet under EDF.
- The proposal will promote the country's exports with Iran. It will also deepen India's relationship with Iran as a strategic partner.
Union Cabinet approved recommendations of 14th Finance Commission on fiscal deficit targets
- Union Cabinet chaired by Prime Minister Narendra Modi on 6 April 2016 gave its approval to the Recommendations on Fiscal Deficit Targets and Additional Fiscal Deficit to States during Fourteenth Finance Commission (FFC) award period 2015-20 under the two flexibility options.
- The commission adopted the fiscal deficit threshold limit of 3 per cent of Gross State Domestic Product (GSDP) for the States.Further, It was also provided a year-to-year flexibility for additional fiscal deficit to States.
- It took the development needs and the current macro- economic requirement into account and provided additional headroom to a maximum of 0.5 per cent over and above the normal limit of 3 per cent in any given year to the States that have a favourable debt-GSDP ratio and interest payments-revenue receipts ratio in the previous two years.
Union Cabinet approved to implement National Hydrology Project
- The Union Cabinet chaired by the Prime Minister Narendra Modi 6 April 2016 gave its approval to implement of the National Hydrology Project. It will be a central sector scheme with a total outlay of 3679.7674 crore rupees.
- The Project includes 3640 crore rupees for National Hydrology Project (NHP) and 39.7674 crore rupees for National Water Informatics Centre (NWIC) to be taken up in two stages.
- It also provides for establishment of NWIC as an independent organization under the control of Ministry of Water Resources, River Development and Ganga Rejuvenation (MoWR, RD&GR).
Low cost and environment-friendly solar lighting device, Solar Jyoti, launched
- Union Government on 5 April 2016 launched the low cost micro solar device, Surya Jyoti. The solar dome would help rural and urban population to have a reliable access to electricity.
- This low cost and environment-friendly solar lighting device was launched by Union Minister for Science & Technology and Earth Sciences, Dr. Harsh Vardhan. The device would light up homes without electricity and save millions of units of power.
- The device has been developed under the aegis of the Department of Science & Technology.
- According to preliminary estimates, if this technology is adopted in 10 million households only, it has the potential of saving 1750 million units of energy.
- It would also lead to an emission reduction of about 12.5 million ton of CO2 equivalent, hence giving a fillip to the mission of ‘Clean India, Green India’.
Foundation stone laid for first Horticulture University in Haryana
- Union Agriculture and Farmers Welfare Minister, Radha Mohan Singh, on 6 April 2016 laid the foundation stone of Haryana State University of Horticultural Sciences at Karnal, Haryana.
- The establishment of a fully fledged horticultural university will cater the needs to support the gap between teaching, research and extension activities in the state.
- The university will be built on 118 acres. It will meet the demand of skilled human resources.
- The varsity will establish the convergence and synergy to disseminate latest technology and horticulture education to the young generation.
- The university is expected to help in improving productivity levels and to adopt appropriate crop diversification to suit the agro climatic conditions of the region.
Odisha Government launched Adarsh Vidyalaya project
- The Odisha Chief Minister Naveen Patnaik on 5 April 2016 launched Odisha Adarsh Vidyalaya (OAV) project at Sasan Ambagaon village in his home constituency Hinjli in Ganjam district.
- The project seeks to provide modern schools on the lines of Kendriya Vidyalayas in the underdeveloped rural areas of the State.
- These schools will provide free education (classes VI to XII) to students along with free uniforms and other study materials.
- They will have hostel facility in future and will be affiliated to the Central Board of Secondary Education (CBSE).
- One Adarsh Vidyalaya will be set up in each of the 314 revenue blocks of the State. In the first phase, 100 of these schools started functioning on 5 April 2016.
Schemes to Distribute Energy Efficient Smart Agriculture Pumps & Fans in Andhra Pradesh launched
- Union Minister of State (IC) for Power, Coal and New & Renewable Energy Piyush Goyal along with Andhra Pradesh Chief Minister N Chandrababu Naidu on 7 April 2016 launched two schemes in Vijayawada, Andhra Pradesh.
- These are National Energy Efficient Agriculture Pumps Programme and National Energy Efficient Fan Programme.
- It will help farmers in replacing energy guzzlers age-old agricultural pumps across the country with the new-age energy efficient agricultural pumps, with a 5-Star Rating.
- The farmers will have flexibility to switch-on and switch-off the pumps from their mobile phones and from the comfort of their homes as the pumps will come enabled with smart control panel and a SIM card.
Rakesh Asthana appointed Addl Director in CBI
- Gujarat's IPS officer Rakesh Asthana has been appointed as Additional Director in the CBI, as the government today cleared appointments of over a dozen senior level officers in the premier probe agency facing acute shortage of staff.
- The Appointments Committee of Cabinet led by Prime Minister Narendra Modi has cleared the appointment of Asthana, a 1984 batch IPS officer of Gujarat cadre, as Additional Director in the central probe agency, an order issued by Department of Personnel and Training said.
- His batchmate Y C Modi, who has been part of Supreme Court-appointed Special Investigation Team that probed 2002 Gujarat riots cases, is already working as another Additional Director in the CBI.
ITC's Amitabh Coomar appointed new GoJavas CEO
- GoJavas has appointed Amitabh Coomar, a former divisional manager for brand marketing at ITC, as its CEO, while its chief operating officer Vijay Ghadge has quit the company, according to a statement by the ecommerce logistics firm.
- Ghadge, who cofounded QuickDel Logistics, which acquired GoJavas in 2013 from Jabong, has moved on to join a startup in stealth mode, according to a person aware of the development.
Sigurdur Ingi Johannsson named as Iceland Prime Minister
- Iceland ruling coalition on 6 April 2016 named Sigurdur Ingi Johannsson as the Prime Minister of the country. The coalition also decided to hold elections in the autumn.
- Earlier, the polls were scheduled to take place in the spring of 2017.
- He will succeed Sigmundur Gunnlaugsson who resigned on 5 April 2016 after his name was the leaked in the Panama Papers. The leaked documents from a Panamanian law firm, Mossack Fonseca, showed Gunnlaugsson owned an offshore firm with his wife that held millions of dollars in debt from failed celandic banks.
- Johannsson, 53, is Agriculture and Fisheries Minister and deputy leader of the Progressive Party (PP).
World Health Day 2016 observed globally with the theme Halt the Rise: Beat Diabetes
- World Health Day (WHD) 2016 was observed globally on 7 April 2016. The theme for the year is Halt the Rise: Beat Diabetes.
The goals of the World Health Day 2016 are:
- Scale up prevention
- Strengthen care
- Enhance surveillance
The day is celebrated every year since it was first celebrated in 1950 to mark the anniversary of the World Health Organisation (WHO) formation in 1948.
The theme of the WHD 2015 was Food safety.
Nita Ambani, SBI chairman in Forbes Asian women power list
- Reliance Industries director Nita Ambani and State Bank of India chairman Arundhati Bhattacharya have been ranked top two in Forbes' "Asia 50 Power Businesswomen 2016" list, which acknowledges the inroads women are making in the business world, despite gender inequalities.
- Including Ambani and Bhattacharya, eight Indian businesswomen have made the cut in the latest list who among them bring to the table representations from diverse business fields -- banking, bio-tech, data analytics, textiles, pharma and even wellness and beauty.
Others in the list
- Arundhati Bhattacharya, Chairman, SBI
- Chanda Kochhar, managing director, ICICI Bank
- Kiran Mazumdar-Shaw, chair, Biocon
- Vandana Luthra, vice chair, VLCC Health Care
- Vinita Gupta, chief executive, Lupin
- Dipali Goenka, chief executive, Welspun India
- Ambiga Dhiraj, chief executive, Mu Sigma
WHO released Global Report on Diabetes
- The World Health Organisation (WHO) on 6 April 2016 released its first Global Report on Diabetes. The report was released to mark the World Health Day 2016 that was celebrated on 7 April with the theme - Beat Diabetes.
- The report underscored the enormous scale of the diabetes problem across the world and suggested various measures to reverse current trends.
Highlights of Global Report on Diabetes
- Global Burden: Globally, an estimated 422 million adults were living with diabetes in 2014, compared to 108 million in 1980.
- Over the past decade, diabetes prevalence has risen faster in low and middle-income countries than in high-income countries.
- If post-2000 trends continue, the probability of meeting the global target of halting the rise in the prevalence of diabetes by 2025 at the 2010 level worldwide is lower than 1 percent for men and is 1 percent for women.
Indian men won Asian Nations Cup Chess tournament
- Indian men won the 2016 Asian Nations Cup Chess tournament with a 3-1 victory over Vietnam in the final round played in Abu Dhabi on 6 April 2016.
- In the final round match against Vietnam, Grandmasters S P Sethuraman and K Sasikiran won on the second and fourth boards while B Adhiban and Vidit Santosh Gujrathi drew their respective matches on top and third boards.
- To clinch the title, India collected 17 points, two more than World and Olympiad champions China. India drew Mongolia and beat the rest of the teams in a 22-team tournament.