Current Affairs Update – 14-16th May, 2016 - Exam Pundit - IBPS PO | Clerk | SBI PO | Insurance Exams | SSC Exams | Current Affairs

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Monday, May 16, 2016

Current Affairs Update – 14-16th May, 2016

Hello and welcome to exampundit. Here are the Important Current Affairs of 14, 15 and 16 May, 2016. These are important for the upcoming SBI PO 2016, SBI Clerk 2016 and UIIC AO 2016.


Current Affairs at a Glance – 14-16th May, 2016
  1. PayU India and Paytm have got amongst the first in-principle approvals for operating as a Bharat Bill Payments Operating Unit (BBPOU), allowing them to offer interoperable bill payment service to consumers. Consumers will be able to pay all their bills anytime and anywhere under the Bharat Bill Payment System (BBPS), and the companies will provide platforms to offer these services.  Till now, it has given approvals to 33 applicants including Oxigen , aggregators like BillDesk and banks including SBI , ICICI, HDFC and others.
  2. Singaporean lender DBS Bank is creating its biggest technology hub outside of headquarters, in Hyderabad where the company plans to have over 1,500 headcount.
  3. The board of World Bank has approved a $625 million loan to support the central government’s programme to generate electricity from rooftop solar power plants.
  4. The Union Government in the second week of May 2016 decided to replace 5-year plans with 15-year vision documents.
  5. Bharat Heavy Electricals Limited (BHEL) on May 14, 2016 commissioned a 660 MW supercritical thermal unit at Mouda Super Thermal Power Station (STPS) at Mouda in Nagpur district of Maharashtra.
  6. The Prime Minister along with Sri Lankan President Maithripala Sirisena on 14 May 2016 released 'Simhastha Declaration' at Ninora village in Ujjain.
  7. India on 15 May 2016 successfully test fired an indigenously developed Advanced Air Defence interceptor missile, Ashwin. It was launched from the complex of Abdul Kalam Island (formerly known as Wheeler Island) off Odisha coast.
  8. The Union Ministry of AYUSH and the World Health Organization (WHO) on 13 May 2016 signed the Project Collaboration Agreement (PCA) for cooperation on Global promotion of Traditional Systems of Medicine.
  9. Shell India announces Nitin Prasad as new chairman.
  10. World governing body for football, FIFA (International Federation of Association Football) on 14 May 2016 appointed Justice (retd) Mukul Mudgal as deputy chairman of its Governance Committee.
  11. Justice Navin Sinha on 14 May 2016 was sworn-in as the new Chief Justice of the Rajasthan High Court.
  12. World No. 1 women's doubles team of Sania Mirza and Martina Hingis on 15 May 2016 captured the Italian Open title. The pair defeated Elena Vesnina and Ekaterina Makarova 6-1, 6(5)-7, 10-3 in the final to clinch the title.
  13. Andy Murray on 15 May 2016 won his first Italian Open Men's Singles Tennis title. In the final played in Rome, third-ranked Murray defeated the top-ranked Djokovic 6-3, 6-3.
  14. Dutch teenager, Max Verstappen, on 15 May 2016 became Formula One's youngest race winner after winning the Spanish Grand Prix. Red Bull's Verstappen defeated Ferrari's Kimi Raikkonen by 0.616 seconds.
  15. The Air Forces of India and the U.S. on 13 May 2016 concluded the 2016 Red Flag aerial combat exercises at Alaska in the U.S. A successor to the Cope Thunder exercise series, the main phase of the Red Flag exercises had commenced on 28 April 2016 with a mix of combat and support elements from the Indian Air Force (IAF), US Air Force (USAF) and US Navy (USN).





Finance/Banking/Economy –

PayU India, Paytm get in-principle approvals for Bharat Bill Payments Operating Unit


  • PayU India and Paytm have got amongst the first in-principle approvals for operating as a Bharat Bill Payments Operating Unit (BBPOU), allowing them to offer interoperable bill payment service to consumers.
  • Consumers will be able to pay all their bills anytime and anywhere under the Bharat Bill Payment System (BBPS), and the companies will provide platforms to offer these services.
  • Companies with in-principle approvals would have to meet two conditions, including a certification from National Payment Corporation of India (NPCI) for adherence to BBPS standards and system readiness. A system audit would also have to be conducted to evaluate the hardware, software, critical applications and security.
  • In November 2015, RBI had granted in-principal approval to NPCI to function as Bharat Bill Payment Central Unit.
  • RBI had received 62 applications for authorisation from non-bank entities and 80 requests in all for approvals from banks for operating as a payment operating unit under BBPS. Till now, it has given approvals to 33 applicants including Oxigen , aggregators like BillDesk and banks including SBI , ICICI, HDFC and others.


DBS Bank to set up offshore tech hub in Hyderabad


  • Singaporean lender DBS Bank is creating its biggest technology hub outside of headquarters, in Hyderabad where the company plans to have over 1,500 headcount.
  • The foreign bank, which was among the first ones to apply to operate as a wholly-owned subsidiary in the country after drawing expansion plans, will steadily take the total number of those employed at the Hyderabad facility to over 1,500 in two years.
  • The hub will help in strengthening the lender's technological capabilities across Asia as well as its digital banking strategy, it said in a statement.
  • It has created a wholly-owned subsidiary -- DBS Asia Hub 2 -- for this purpose and according to a filing with the exchanges, the initial and paid-up capital for the same stands at Rs 70.5 crore.



World Bank approves $625 m loan to support rooftop solar programme in India


  • The board of World Bank has approved a $625 million loan to support the central government’s programme to generate electricity from rooftop solar power plants.
  • The board also approved a co-financing loan of $120 million on concessional terms and a $5 million grant from the Climate Investment Fund’s Clean Technology Fund, the global development bank said in a statement on Monday.
  • The statement added that the sanctions will help finance installation of at least 400 MW of grid connected rooftop solar photovoltaic projects across India.
  • State Bank of India will on-lend funds to solar photovoltaic developers and end-users who wish to invest in mainly commercial and industrial rooftop solar power systems. The financing will be provided to those with sound technical capacity, relevant experience and creditworthiness as per State Bank of India’s standards.


AirAsia India hits 2.5 million passenger milestone


  • AirAsia India has flown 2.5 million passengers as of today, the airline said.
  • AirAsia India reached its 1 million passengers milestone in August 2015 and in a little more than six months, the number of passengers flown by it has grown to 2.5 million, it said.
  • To celebrate this occasion, AirAsia India is offering 50 per cent off on return fares for 50 hours across the AirAsia Group network.
  • The 50 per cent off is also valid on international destinations such as Kuala Lumpur, Bangkok, Bali, Phuket, Singapore, Melbourne, Auckland and many more connected by the Group airlines, AirAsia Berhad (Flight code AK), AirAsia X (Flight code D7) and Thai AirAsia (Flight code FD).


NITI Aayog to prepare 15-year vision documents by replacing 5-year plans


  • The Union Government in the second week of May 2016 decided to replace 5-year plans with 15-year vision documents.
  • The long-term perspective plans will be prepared by the National Institution for Transforming India (NITI) Aayog beginning from 2017-18 financial year.

Features of 15-year vision document
  • Unlike the earlier 5-year plans, the new document will also cover subjects like internal security and defence.
  • The previous twelve 5-year plan documents, for the period between 1951 and 2017, focused on social and economic infrastructure like health, connectivity and education.
  • The decision to bring internal security and defence in the ambit of the vision document is in tune with the government’s announcement to done away with plan and non-plan expenditure from 2017-18.
  • The initial vision document will be co-terminus with the United Nations Sustainable Development Agenda (2016-2030) to which India is a signatory.


BHEL commissions 660 MW supercritical thermal plant in Nagpur

  • Bharat Heavy Electricals Limited (BHEL) on May 14, 2016 commissioned a 660 MW supercritical thermal unit at Mouda Super Thermal Power Station (STPS) at Mouda in Nagpur district of Maharashtra. The order for setting up two coal-based thermal units of 660 MW was placed with BHEL by NTPC Ltd.
  • While the first unit has been commissioned, work on the other 660 MW unit is also in an advanced stage. Notably, BHEL has earlier set up two units of 500 MW each at Mouda STPS, which are in operation.
  • In the supercritical segment, BHEL has successfully demonstrated its leadership status and technological capability in the manufacture and execution of 660 MW, 700 MW and 800 MW sets. Notably, the unit, commissioned by BHEL at Mouda, is the first to be commissioned out of the 11 units ordered under bulk tendering to different manufacturers.


India –

Modi, Maithripala Sirisena released 'Simhastha Declaration' in Ujjain


  • The Prime Minister along with Sri Lankan President Maithripala Sirisena on 14 May 2016 released 'Simhastha Declaration' at Ninora village in Ujjain.
  • Both leaders addressed the concluding session of the 3 day International Vichar Mahakumbh for the month-long Simhastha Mela. Sri Lankan President Sirisena was on a two day visit to India from 13 May to 15 May 2016.
  • 51 sacred points have been included in this declaration for betterment of mankind and these elixir points will start new discourse for India and the world.

Highlights of the Declaration
  • The declaration is a prescription on how a duty-centered system that had been the origin of Indian philosophy of life is relevant in today’s India.
  • Saints and seers, scholars and subject experts from the country and abroad discussed on various issues in the sessions of 'Vichar Mahakumbh'.


India successfully test fires indigenous Advanced Air Defence interceptor missile, Ashwin


  • India on 15 May 2016 successfully test fired an indigenously developed Advanced Air Defence interceptor missile, Ashwin. It was launched from the complex of Abdul Kalam Island (formerly known as Wheeler Island) off Odisha coast.
  • The advanced version of low altitude supersonic ballistic interceptor missile was fired at a ballistic missile, a modified version of Prithvi weapon system. It was test fired to validate various parameters of the interceptor in flight mode.


Sponsored







India, WHO signed agreement for Global promotion of Traditional Systems of Medicine


  • The Union Ministry of AYUSH and the World Health Organization (WHO) on 13 May 2016 signed the Project Collaboration Agreement (PCA) for cooperation on Global promotion of Traditional Systems of Medicine.
  • The agreement was signed by Ajit M Sharan, Secretary of Union Ministry of AYUSH and, Dr Marie Kieny, Assistant Director General of Health Systems and Innovations at WHO in Geneva.

Highlights of the Agreement
  • The PCA is titled as Co-operation on promoting the quality, safety and effectiveness of service provision in traditional and complementary medicine between WHO and AYUSH, India, 2016-2020.
  • It aims at promoting the quality, safety and effectiveness of service provision in traditional and complementary medicine.


Parkash Singh panel submits report on Jat quota Agitation

  • Parkash Singh committee constituted to inquire into the omission and commission on part of all officers and officials of police and civil administration during Jat Quota agitation submitted its report to Haryana Chief Minister Manohar Lal Khattar. The report was submitted on 13 May 2016.
  • The panel submitted its report in two volumes which run into about 450 pages, of which the Main Report is in about 200 pages and another 200 pages is of Annexures. While the, second volume of only about 40 pages, deals with the role of Intelligence in the context of the riots.
  • After receiving the report, Chief Minister said that government would examine the report and would take appropriate action accordingly.


Appointments –

Shell India announces Nitin Prasad as new chairman


  • Yasmine Hilton , currently chairman of Shell Companies in India, will end her assignment on 30 September 2016, after 37 years with Shell.
  • Nitin Prasad , country head of Shell Lubricants , will succeed Hilton effective 1 October 2016.
  • Prasad is an electrical engineer from Georgia Institute of Technology, USA and a management graduate from INSEAD. He took up his current appointment in 2011 as general manager, Shell Lubricants, in the third largest lubricants market in the world.
  • His previous roles in Shell include chemicals where he was general manager APME supply chain, and senior advisor on downstream strategy.


FIFA appoints Justice Mukul Mudgal as Deputy Chairman of its Governance Committee


  • World governing body for football, FIFA (International Federation of Association Football) on 14 May 2016 appointed Justice (retd) Mukul Mudgal as deputy chairman of its Governance Committee.
  • Portuguese Luis Miguel Maduro, Advocate General of European Court of Justice (ECJ), was appointed as the Chairman of the Governance Committee.
  • Justice Mudgal was also appointed as the head of the FIFA’s first Independent Review Committee along with Luis Miguel Maduro.


Justice Navin Sinha sworn in as Chief Justice of Rajasthan High Court


  • Justice Navin Sinha on 14 May 2016 was sworn-in as the new Chief Justice of the Rajasthan High Court.
  • Governor Kalyan Singh administered the oath to the new Chief Justice of the state High Court.
  • Sinha was appointed by President Pranab Mukherjee as per provisions Article 222 of Constitution after following recommendation of the Supreme Court collegium headed by Chief Justice of India (CJI) T.S. Thakur.


Sports –

Indian women win silver medal at 18th Asian Team squash Championships 2016


  • Indian women’s squash team on 15 May 2016 won the silver medal at the 18th Asian Team squash championships. In the final played at Taipei in Chinese Taipei, Indian team lost to the Malaysian team by 0-2 margin.
  • This was the ninth women’s Asian Team Squash Championships title for the Malaysian team.
  • In the first match, India’s Sachika Ingale lost in straight games 7-11, 6-11, 10-12 to Malaysian Sivasangari Subramaniam. Later, Delia Arnold of Malaysia defeated India's top player Joshna Chinappa 9-11, 13-11, 11-8, 11-9.


Sania Mirza and Martina Hingis clinch 2016 Italian Open title


  • World No. 1 women's doubles team of Sania Mirza and Martina Hingis on 15 May 2016 captured the Italian Open title. The pair defeated Elena Vesnina and Ekaterina Makarova 6-1, 6(5)-7, 10-3 in the final to clinch the title.
  • The Italian Open women’s doubles title was the fifth title for the Indo-Swiss pair after Sydney, Brisbane, Australian Open and St Petersburg.
  • With the win, Mirza and Hingis also captured their 14th women's doubles title together.


Andy Murray beats Novak Djokovic to win first Italian Open title


  • Andy Murray on 15 May 2016 won his first Italian Open Men's Singles Tennis title. In the final played in Rome, third-ranked Murray defeated the top-ranked Djokovic 6-3, 6-3.
  • It is Murray's first title in Rome and it comes exactly a week before the French Open begins on 22 May 2016.
  • The only other British man to win the tournament was George Patrick Hughes in 1931. He is also the first British singles champion in Italy since Virginia Wade won the title in 1971.
  • On the other hand, Serena Williams ended a nine-month title drought with a 7-6, 6-3 win over Madison Keys in an all American women's Singles final.


Dutchman Max Verstappen became youngest winner of F1 at Spanish Grand Prix


  • Dutch teenager, Max Verstappen, on 15 May 2016 became Formula One's youngest race winner after winning the Spanish Grand Prix. Red Bull's Verstappen defeated Ferrari's Kimi Raikkonen by 0.616 seconds.
  • His teammate Sebastian Vettel stood at the third position.
  • Verstappen drove to triumph after, Mercedes drivers Lewis Hamilton and Nico Rosberg crashed out in the first lap of the race.
  • At 18 years and 228 days, Max Verstappen is the youngest race winner in F1 history. The Dutchman was two years and 210 days younger than the previous youngest winner, Sebastian Vettel.


World –

Indian short film ‘Beti’ to be screened at Seattle International Film Festival


  • Beti, a four minute documentary film on girl child education from India, has been invited for special screening at the 42nd Seattle International Film Festival (SIFF), Washington DC.
  • Beti is the only short film from India to be featured amongst 421 films representing 85 countries and will be screened on 30 May 2016, which is Seattle Memorial Day at the SIFF.


2016 Red Flag Aerial combat exercises conclude in Alaska


  • The Air Forces of India and the U.S. on 13 May 2016 concluded the 2016 Red Flag aerial combat exercises at Alaska in the U.S.
  • A successor to the Cope Thunder exercise series, the main phase of the Red Flag exercises had commenced on 28 April 2016 with a mix of combat and support elements from the Indian Air Force (IAF), US Air Force (USAF) and US Navy (USN).
  • The four-week long aerial combat exercises were held at the Eielson Air Force Base in Alaska, United States of America. This was the second time India had participated in such an exercise after 2008.






Regards



Team ExamPundit

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