Hello and welcome to exampundit . Here are the important Current Affairs of 15th June, 2016. These are important for the upcoming SBI PO & SBI Clerk Mains Exams 2016.
Cabinet approves merger of 5 associate banks with SBI
- The Cabinet today gave go-ahead to the merger of State Bank of India (SBI) and its associate lenders that would make the state-owned lender a global-sized bank.
- India's largest lender SBI had last month mooted the proposal for merger of its five subsidiary banks with itself and acquisition of the newly set up Bharatiya Mahila Bank.
- SBI has five associate lenders -- State Bank of Bikaner and Jaipur, State Bank of Travancore, State Bank of Patiala, State Bank of Mysore and State Bank of Hyderabad.
Vijay Mallya declared as Proclaimed Offender by Money Laundering Court
- Businessman Vijay Mallya was on 14 June 2016 declared as a Proclaimed Offender by a special court for the Prevention of Money Laundering Act (PMLA) in Mumbai in a loan diversion case.
- The court issued proclamation under Section 82 of Criminal Procedure Code (CrPC) against Vijay Mallya.
- The move came after the Enforcement Directorate (ED), an investigation agency under the Union Finance Ministry, on 10 June 2016 filed a petition over a case where Mallya is suspected to have diverted a 430 crore rupees loan given by IDBI Bank Ltd to his Kingfisher Airlines Ltd.
- A person is termed as a proclaimed offender in a criminal investigation if the court believes that the accused has absconded or is concealing himself, so that the warrant cannot be executed.
Barclays launches platform for fintech start-ups
- Foreign lender Barclays has now decided to focus on the financial technology space in India and has opened a fintech innovation platform. In this technology innovation hub, the lender is looking at partnering with various start-ups and will provide a physical site for fintech companies.
- This is Barclays' sixth site globally, following London, Manchester, New York, Cape Town and Tel Aviv hubs.
- Barclays focus on the financial technology comes at a time when both the bank and the non-financial players are looking at this space actively. In fact, Nasscom predicts that the Indian fintech software market is estimated to grow by 1,7 times and cross $2 billion by 2020.
- Barclays is not the only one that is pushing the pedal on focusing on fintech innovations. Several other private sector lenders have also been focusing on this space. Recently, even HDFC Bank and ICICI Bank have tied up with fintech start-ups and are looking at working closely with them. Some other smaller lenders such as RBL and Federal Bank are also looking at investing in start-ups.
Union Ministry of Railways signs JV Agreement with Odisha Government
- The Union Ministry of Railways on 14 June 2016 signed a Joint Venture (JV) Agreement with Odisha Government. The agreement was signed by VP Dudeja on behalf of Railways Ministry and Sanjay Rastogi, Pr Secretary of Transport, Odisha Government.
Highlights of the JV Agreement
- The MoU envisages formation of a Joint Venture company having 51 percent stake of the State Government and 49 percent stake of Ministry of Railways.
- The company will primarily identify projects and possible financing avenues in addition to Union Government and the State Government.
- After finances for a project are tied up, project specific special purpose vehicles shall be formed.
- These SPVs can have other stake holders from Industries, Central PSUs, State PSUs etc. However, the JV companies shall be mandatory stake holders with minimum 26 percent shares in the SPVs.
- The Railways Ministry will also sign a concession agreement of 30 years with the project SPV for safe and sound operation, revenue sharing and providing technical & marketing logistics to the SPV.
- At the end of concession period, the railways will have option to take over the assets at a nominal price.
Union Government launches Scheme for setting up 1000 MW Wind Power Project connected to CTU
- Union Ministry of New and Renewable Energy (MNRE) on 15 June 2016 launched Scheme for setting up of 1000 MW Wind Power Project connected to Central Transmission Utility (CTU) transmission network.
- The scheme has been launched with an objective to facilitate supply of wind power to the non-windy states at a price discovered through transparent bidding process.
- The launching of the scheme is in line with the Union Government’s ambitious target of achieving 175 GW power capacity from renewable energy resources by 2022. Out of 175 GW, 60 GW will come from wind power.
Key features of the Scheme
- It envisages building of 1000 MW CTU-connected Wind Power Project on build, own and operate (BOO) basis.
- The capacity may go higher than 1000 MW, if there is higher demand from Discoms of non-windy states.
- Solar Energy Corporation of India (SECI) has been designated as nodal agency for implementation of the scheme.
Flipkart collaborates with Intel India for 'Lap it Up'
- E-commerce major Flipkart on Tuesday announced the launch of laptop sale event "Lap it Up!" on its website in collaboration with Intel India.
- The campaign will offer latest laptop brands at some exciting prices with EMI option.
India’s membership of the International Continental Scientific Drilling Program approved
- The Union Cabinet on 15 June 2016 gave its approval for Indian membership of the International Continental Scientific Drilling Program (ICDP) consortium.
- The approval clears the path for signing a Memorandum of Understanding (MoU) with the GFZ - Helmholtz Centre Potsdam (German Research Centre for geosciences). The GFZ is a government-funded, Public Law Foundation of the State of Brandenburg, Germany.
- The MoU, which will be in force for 5 years, will enable India in engaging internationally renowned experts with profound expertise in different aspects of scientific drilling.
- The deep drilling and associated investigations will be conducted in Koyna region in Maharashtra.
- As a part of the membership agreement, India will get a seat on two ICDP panels - Executive Committee (EC) and Assembly of Governors (AOG).
Bihar Chief Minister Nitish Kumar inaugurated Child Labour Tracking System
- Bihar Chief Minister Nitish Kumar on 12 June 2016 inaugurated Child Labour Tracking System (CLTS). The system was launched to keep a track of rescued child labour for their proper rehabilitation.
- Besides, CM Nitish Kumar also announced that he had in principle accepted the Charter of Demands submitted by the rescued child labour.
- A committee headed by Chief Secretary for implementation of children’s demands will also be set up.
- Every rescued child will be given 25000 rupees from Chief Minister’s Relief Fund.
- The money will directly go to children’s bank account. The amount will instil a sense of confidence among the children.
- The money will be given to all those children who will be registered under the tracking system.
Gujarat’s Shiyal Bet gets power after 70 years of Independence
- Gujarat’s Shiyal Bet on 11 June 2016 got electricity for the first time, after 70 years of Independence.
- State’s Chief Minister Anandiben Patel inaugurated the 18.35 crore rupees project to supply grid power to the island through marine cables.
- CM Patel also unveiled a plaque dedicating the electrification project to the public at a ceremony organised in the compound of the Government Secondary School in Shiyal Bet.
- The Shiyal Bet project is an important part of the Prime Minister’s target to electrify 18000 villages in India by mid-2018.
Union Government approves Measures for Conservation & Preservation of Lakes in Bengaluru
- The Union Government on 14 June 2016 approved a series of measures for the abatement of pollution and for the conservation and preservation of lakes in Bengaluru.
- The decision to this effect was taken at a meeting jointly chaired by Union Minister of Chemicals & Fertilizers, Ananth Kumar and Minister of State (Independent Charge) for Environment, Forest & Climate Change, Prakash Javadekar.
- Under the decision, all Sewage Treatment Plants (STPs) of the city will be monitored online 24x7. Apart from this, lake water quality will be monitored by concerned authorities in Bengaluru.
- Some actions that have been agreed upon include:
- Bio-development of lakes of Bengaluru will be undertaken.
- Lakes will be restored in a bio-diverse manner in Public-Private Partnership mode.
- All residential group housing projects/apartments with >20 units and total build-up area of 2000 sq meter will have to install Sewage Treatment Plants (STP).
Telangana government to set up pharmaceutical city in Rangareddy and Mahbubnagar districts
- Telangana government on 10 June 2016 decided to set up of a Pharma City on 12500 acres of land in Rangareddy and Mahbubnagar districts of the state.
- Telangana has traditionally been the bulk drugs capital of India with almost one-third of the total production in value terms.
- The state government intends to facilitate setting up of the most modern facilities along with all necessary where withal in an integrated manner along with maintaining the leader status in the sector.
- Telangana State Industrial Infrastructure Corporation (TSIIC) shall send detailed project proposal (DPR) to the government on modalities for implementation and execution of project.
- It will also carry out all aspects related to the development of the park in a transparent manner duly following all relevant rules.
- The proposed park will have components and other related activities with regard to antibiotics, fermentation products, synthetic drugs, large volume chemical synthesis, intermediaries, vitamins, vaccines, drug formulations, nutraceuticals, herbal medicinal products, specialty chemicals, cosmetics among others.
Joint Naval Exercise Malabar 2016 begins
- India, the United States and Japan on 10 June 2016 began the annual exercise Malabar 2016. This is the 20th edition of Malabar Exercise that will be conducted till 17 June 2016 .
- The main aim of this exercise is to boost the interoperability amongst the three navies and develop common understanding of procedures for Maritime Security Operations.
- Malabar 2016 will be conducted with the harbour phase at Sasebo and with the sea phase in the Pacific Ocean.
- The scope of MALABAR-16 includes professional interactions in harbour and a diverse range of activities at sea, including complex surface, sub-surface and air operations.
India, ISA contract for exploration of Polymetallic Sulphides approved
- The Union Cabinet on 15 June 2016 gave its approval for signing of a 15 years contract by the Ministry of Earth Sciences with the International Seabed Authority (ISA).
- The contract seeks to undertake exploration and other developmental activities related to Polymetallic Sulphides in the allotted area of 10000 sq km.
- Under the contract, exploration will be done in parts of Central and South - West Indian Ridges (SWIR), located in the Indian Ocean.
- India's exclusive rights for exploration of Polymetallic Sulphides in the allotted area will be formalized.
- It will enhance India's presence in the Indian Ocean where other players like China, Korea and Germany are active.
Awards & Honors –
Pranab Mukherjee awarded highest honour by of Cote D’Ivoirie
- President Pranab Mukherjee has been accorded the highest honour of Cote D’Ivoirie by its President Alassane Ouattara on his maiden visit here.
- After an elaborate reception accorded at the airport, Mukherjee attended a banquet last evening hosted by Ouattara where he was accorded with Grand Cross National Order of the Republic of Cote D’Ivoirie in a simple ceremony in the President’s Palace.
- It is the first such honour accorded to Mukherjee, Press Secretary to the President Venu Rajamony said.
- He said while Mukherjee has received number of honorary degrees, it is first such honour accorded to him by a country.
Shell Lubricants India appoints Mansi Tripathy as MD
- Shell Lubricants India has appointed Mansi Tripathy, the former CMO of Shell Lubricants, as the new managing director of the company.
- Tripathy would succeed Nitin Prasad, who moves on to take over as the chairman of Shell Companies in India with effect from August 1, 2016.
- Tripathy brings in 20-years of marketing, sales, insights and strategy experience to the office.
- In her new role, she will be responsible for leading all the business activities for the lubricants business in India, Bangladesh, Sri Lanka and Nepal. Tripathy has been the architect of digital marketing & social media footprints for Shell Lubricants in India.
Manoj Mishra takes charge as RCF's CMD
- Ministry of Chemicals and Fertilizers has asked the chairman and managing director (CMD) of National Fertilizers Limited (NFL) Manoj Mishra to take additional charge as Rashtriya Chemicals and Fertilizers’ (RCF) CMD.
- Consequent to this, R G Rajan has relinquished the charge of CMD of the company, with effect from June 14, 2016.
Peter Thomson of Fiji elected as President of 71st session of United Nations General Assembly
- The United Nations General Assembly (UNGA) on 13 June 2016 elected Peter Thomson, Permanent Representative of Fiji, as President of its upcoming 71st session.
- Thomson was elected in a rare secret ballot vote. He defeated Andreas Mavroyiannis of Cyprus by a secret-ballot vote of 94 to 90, with one abstention.
- The Fiji representative will replace current General Assembly President Mogens Lykketoft.
- Thomson will begin his tenure in September 2016 at the commencement of the 71st General Assembly session.
Gunit Chadha resigns as CEO of Deutsche Bank Asia Pacific Region
- Gunit Chadha on 14 June 2016 resigned as Chief Executive Officer (CEO) of Asia Pacific region of Deutsche Bank AG. He will leave the office on 17 July 2016.
- Chadha joined Deutsche Bank in 2003 as the CEO for the global lender’s India business.
- In 2012, he was elevated to co-CEO for its Asia Pacific business and later in October 2015 was appointed as CEO for the Asia Pacific.
- Under Chadha’s leadership, Deutsche Bank had started its investment banking, retail banking and institutional broking business in India.
- Prior to Deutsche Bank, he was CEO of IDBI Bank Ltd.
World Blood Donors Day 2016 observed with theme Blood connects us all
- World Blood Donors Day (WBDD) 2016 was observed on 14 June 2016.
- The theme of the 2016 World Blood Donor Day campaign is Blood connects us all. The theme highlights the common bond that all people share in their blood.
- The slogan for 2016 WBDD is Share life, give blood. The slogan focuses on voluntary donation systems. The voluntary donation systems play a pivotal role in encouraging people to care for one another and promoting community cohesion.
World Elder Abuse Awareness Day observed
- World Elder Abuse Awareness Day was observed globally on 15 June 2016. The day is observed to voice against abuse and suffering inflicted on older people.
- On this day, number of events is held across the globe to raise awareness of elder abuse and highlight ways to challenge such abuse.
- The global population of people aged 60-year and older will more than double, from 542 million in 1995 to about 1.2 billion in 2025.
Dhoni became the fourth wicketkeeper in the world to reach 350 dismissals milestone in ODI
- Mahendra Singh Dhoni today became the fourth wicketkeeper in the world to reach 350 dismissals in One-day Internationals, while widening the gap further with his India predecessors.
- The limited overs skipper achieved the feat during the ongoing third and final ODI against Zimbabwe, when he caught Elton Chigumbura off medium pacer Jasprit Bumrah in the 33rd over of the innings at the Harare Sports Club.
- Dhoni has so far taken 261 catches and effected 89 stumpings in 278 matches.
- Sri Lankan Kumar Sangakkara leads the list with 482 dismissals followed by Australian Adam Gilchrist and South Africa’s Mark Boucher with 472 and 424 dismissals respectively.
- As far as dismissals in the 50-over format are concerned, Dhoni is the only Indian in the 300-club, which he scaled during an ODI against New Zealand in January 2014.
Rio 2016 unveils official slogan for Olympic and Paralympic Games
- The Rio 2016 organising committee revealed the official slogan for the first Olympic and Paralympic Games in South America— "A new world" — while also unveiling the medals, 52 days from the start of the quadrennial extravaganza.
- Along with the Olympic torch, the medals and the mascots, the slogan plays a major part in creating the unique identity of each Olympic Games.
- For Rio 2016, the core values of the slogan and the manifesto are unity, respect for diversity and the will for change, reports Xinhua.
Connaught Place world's seventh most expensive office market
- With occupancy cost of $149.71 (Rs 10,030) per sq ft, New Delhi’s Central Business District (CBD) of Connaught Place ranks as the seventh most expensive prime office market in the world, said a new study. Connaught Place was ranked sixth in the previous CBRE Research's Global Prime Office Occupancy Costs bi-annual survey.
- Mumbai’s alternative business district of Bandra Kurla Complex (BKC) came down from 18th to 19th position, according to the study while Nariman Point is at 34th position. Hong Kong (Central) ranked first at $290 per sq ft per annum.
- Global prime office occupancy costs — which reflect rent, plus local taxes and service charges for the highest-quality, prime office properties — rose 2.4% year-on-year. In Asia Pacific, prime office occupancy costs are growing at a faster pace than average, up 2.7% year-over-year. A few key Southeast Asian markets registered decreases, including Singapore and Jakarta, CBRE said today.
Florida’s Stonegate Bank to issue first US credit card for use in Cuba
- Florida-based Stonegate Bank on 14 June 2016 issued a new credit card that will allow Americans to use it in Cuba during their visit to the country. The card will help the US visitors to avoid the Cuban 10-percent penalty on the dollar.
- Pompano-beach based Stonegate is also the first US bank to introduce a debit card for use in Cuba.
- The bank announced that US travelers will be able to use its Mastercard to charge purchases at Cuban state-run businesses and some private businesses, starting 15 June 2016.
Renowned Hindi writer Mudrarakshasa passes away
- Distinguished Hindi writer, activist, thinker and cultural personality Mudrarakshasa passed away on 13 June 2016 following a prolonged illness in Lucknow. He was 82.
- He was the editor of Anuvrata, a Calcutta based magazine.
- He worked as Editor at All India Radio from 1962 to 1976.
- His works of theatrical criticism includes Rang Bhumikayen and a book on Nemichandra Jain.
- He has about thirty stage productions to his credit.