Tuesday, June 21, 2016

Current Affairs Update – 21st June, 2016

Hello and welcome to exampundit . Here are the important Current Affairs of 21st June, 2016. These are important for the upcoming SBI PO Mains 2016.

Current Affairs at a Glance – 21st June, 2016
  1. The State Bank of India (SBI) was on 16 June 2016 named in the Hall of Shame list of 158 banking institutions that have invested billions of dollars in companies making cluster bombs. The list was prepared by Dutch campaign group PAX Worldwide Investments in Cluster Munitions report. State Bank of India (SBI) is the only Indian entity on the list that includes global giants like JP Morgan, Barclays, Bank of America and Credit Suisse.
  2. Electronic insurance will become mandatory for annual premium equal to or above Rs 10,000 (single/annual premium) in life insurance policies. Insurance Regulatory and Development Authority of India (Irdai) in its Issuance of e-Insurance Policies Regulations, 2016 said that these norms will come into force from October 1, 2016.
  3. India and Thailand on 17 June 2016 signed two agreements that are aimed at enhancing cooperation in culture as well as educational sectors.
  4. Mori village in East Godavari district of Andhra Pradesh will be developed as a smart village of global standards. Towards this endeavor, the partners in the project on 19 June 2016 announced that prototype will be ready by mid-December 2016.
  5. Public sector aerospace Hindustan Aeronautics Limited (HAL) on 17 June 2016 unveiled indigenous Basic Trainer Aircraft (BTA) HTT-40 in Bengaluru.
  6. Punjab Chief Minister Parkash Singh Badal on 18 June 2016 launched the fund titled Mukh Mantri Punjab Hepatitis C Relief Fund to provide free treatment for patients affected by Hepatitis C.
  7. Kannada Movie Thithi in the third week of June 2016 won two awards - Best Film and Best Script Writers - under the Asia New Talent Awards Category at the 19th Shanghai International Film Festival.
  8. The International Day of Yoga was observed on 21 June 2016, across the world with the theme Connect the Youth.
  9. Exide Life Insurance, on Tuesday announced cricketer Mahendra Singh Dhoni as its brand ambassador.



Finance/Banking –

SBI named in Hall Of Shame list of Banks funding Cluster Bomb Makers


  • The State Bank of India (SBI) was on 16 June 2016 named in the Hall of Shame list of 158 banking institutions that have invested billions of dollars in companies making cluster bombs. The list was prepared by Dutch campaign group PAX Worldwide Investments in Cluster Munitions report.
  • State Bank of India (SBI) is the only Indian entity on the list that includes global giants like JP Morgan, Barclays, Bank of America and Credit Suisse.

Highlights of the Report
  • The report looks at investments into companies involved in the production of cluster munitions.
  • 158 financial institutions invested over 28 billion US dollars in the seven companies researched in the report between June 2012 and April 2016.
  • These 7 companies are China Aerospace Science and Industry, China Aerospace Science and Technology, Hanwha (South Korea), Norinco (China), Orbital ATK (US), Poongsan (South Korea) and Textron (US).
  • Textron produces the CBU-105 Sensor Fuzed Weapon. Between June 2012 and April 2016, 49 financial institutions invested over 12 billion US dollars in Textron.
  • The maximum number of 74 banks are from the US, followed by China (29) and South Korea (26).
  • The majority of the financial institutions included in the Hall of Shame are from countries that have not yet joined the Convention on Cluster Munitions (CCM), the international treaty that bans this weapon.
  • However, the report points towards the serious concern that there are still 20 financial institutions from seven countries which have joined the CCM.
  • SBI has been included in the list because of its exposure to Orbital ATK, a US-based company specialising in the design, manufacture and launch of space and rocket systems for commercial, military and other government customers.


E-insurance must for Rs 10,000-plus premium in life insurance: Irdai


  • Electronic insurance will become mandatory for annual premium equal to or above Rs 10,000 (single/annual premium) in life insurance policies. Insurance Regulatory and Development Authority of India (Irdai) in its Issuance of e-Insurance Policies Regulations, 2016 said that these norms will come into force from October 1, 2016.
  • Here, electronic insurance policy will mean a policy document which is an evidence of insurance contract issued by an insurer and digitally signed. Customers would have an e-Insurance Account which will be an electronic account opened by a person with an insurance repository wherein the portfolios of insurance policies of a policyholder are held in an electronic form.
  • Irdai has asked every insurer soliciting insurance business through electronic mode to create an e-proposal form similar to the physical proposal form approved by the Authority. Such form should enable capture of information in electronic form that would enable easy processing and servicing. The e-proposal form will also have a provision to capture the electronic Insurance Account (eIA) number.


Anand Desai Committee on Specific Relief Act, 1963 submitted its report

  • Anand Desai led Expert committee set up to examine the Specific Relief Act, 1963 on 20 June 2016 submitted its report to Union Law & Justice Minister DV Sadananda Gowda.
  • In its report the committee has recommended modifications in the Specific Relief Act, 1963, which will help in ensuring the ease of doing business.

Recommendation of the committee includes
  • To change the approach, from damages being the rule and specific performance being the exception, to specific performance being the rule, and damages being the alternate remedy.
  • To provide guidelines for reducing the discretion granted to Courts and tribunals while granting performance and injunctive reliefs so that public works projects is not be impeded or stalled.
  • To introduce provisions for rights of third parties (other than for Government contracts).
  • To consider addressing unconscionable contracts, unfair contracts, reciprocity in contracts etc., and implied terms.


IWAI and IPGPL signed MoU on Kaladan Multimodal Transit Transport Project

  • Inland Waterways Authority of India (IWAI) and India Ports Global Private Limited (IPGPL) on 1 June 2016 signed a Memorandum of Understanding (MoU) on the Kaladan Multimodal Transit Transport Project.
  • The MoU has been signed for implementation of the following three additional works, which are independent of the on-going works and are estimated to cost 476 crore rupees. They are
  • Container handling facilities at Sittwe & Paletwa
  • Operation & Maintenance of the completed works
  • Wrecks removed in Sittwe Port basin area
  • IWAI shall remain as the overall Project Development Consultant (PDC) to Project Development Consultant (PDC) for implementation of PORT & IWT component of Kaladan project.


India –

India, Thailand signed 2 agreements on cooperation in culture and education sectors


  • India and Thailand on 17 June 2016 signed two agreements that are aimed at enhancing cooperation in culture as well as educational sectors.
  • The set of agreements pertains to extension of the Cultural Exchange Programme (CEP) for 2016-19 and a Memorandum of Understanding (MoU) between Nagaland University and Thailand’s Chiang Mai University.
  • The agreements were signed in New Delhi during the 3-day visit of Thailand Prime Minister General Prayut Chan-o-cha that concluded on 18 June 2016.
  • During the visit, he held talks with the Prime Minister Narendra Modi on a wide range of issues that are of concern for both the countries and the region as a whole.


Mori village in Andhra Pradesh chosen for development as smart village


  • Mori village in East Godavari district of Andhra Pradesh will be developed as a smart village of global standards. Towards this endeavor, the partners in the project on 19 June 2016 announced that prototype will be ready by mid-December 2016.
  • Under the project, the village will be developed as a self-contained sustainable business model.

Features of Mori smart village project
  • Mori is a small cashew-exporting village in Andhra Pradesh’s East Godavari district.
  • The project involves using digital tools, real time information and uninterrupted internet connectivity.
  • Under the project, the village will be equipped with fibre optic connectivity. Around 1900 households will be connected with 15 Mbps link.


Sponsored






HAL unveils indigenous basic trainer aircraft HTT-40


  • Public sector aerospace Hindustan Aeronautics Limited (HAL) on 17 June 2016 unveiled indigenous Basic Trainer Aircraft (BTA) HTT-40 in Bengaluru.
  • The aircraft made its maiden flight at HAL Airport in Bengaluru and was flown by Group Captain C Subramaniam and Group Captain Venugopal for about 10 to 15 minutes.

Highlights of HTT-40
  • Hindustan Turbo Trainer-40 (HTT-40) is two-seater aircraft designed and developed indigenously by the HAL.
  • The aircraft weighs about 2800 kg and has Turbo Prop engine of 950 shp class.
  • Almost 50 percent of the components on HTT-40 are manufactured by private players of the Indian aerospace manufacturers.
  • The indigenous content on HTT-40 is close to 80 percent.


Punjab government launches Mukh Mantri Punjab Hepatitis C Relief Fund


  • Punjab Chief Minister Parkash Singh Badal on 18 June 2016 launched the fund titled Mukh Mantri Punjab Hepatitis C Relief Fund to provide free treatment for patients affected by Hepatitis C.
  • With this initiative, Punjab became the first Indian state to provide free treatment to confirmed cases of Hepatitis C.

Highlights of the Mukh Mantri Punjab Hepatitis C Relief Fund
  • The fund will have initial corpus of 20 crore rupees.
  • It will provide free treatment to all the residents of Punjab affected by Hepatitis C.
  • Free treatment for Hepatitis C would be provided to the patients in the state government medical colleges at Patiala, Amritsar and Faridkot besides 22 district hospitals.
  • Under this scheme, the patients of Hepatitis C will be registered at the 25 treating hospitals.


Awards & Honors –

Kannada movie Thithi won Best Film Award at 19th Shanghai International Film Festival


  • Kannada Movie Thithi in the third week of June 2016 won two awards - Best Film and Best Script Writers - under the Asia New Talent Awards Category at the 19th Shanghai International Film Festival.
  • Earlier, in August 2015, the film premiered at the 68th Locarno International Film Festival and won the Golden Leopard honour in the Filmmakers of the Present category and the Swatch First Feature award.
  • The film also won numerous other awards at film festivals held in Mumbai, Palm Springs, Marrakech, etc. 
Some of the important among them are–
  • 63rd National Film Awards: It won the National Film Award for Best Feature Film in Kannada.
  • 2016 Karnataka State Film Awards: It bagged the awards, namely, First Best Film, Best Supporting Actress and Best Dialogue award.
  • It was invited to the 45th edition of New Directors/New Films in New York, the USA.


Days –

International Day of Yoga 2016 observed across the world


  • The International Day of Yoga was on 21 June 2016 observed across the world with the theme Connect the Youth.
  • This year’s observance of the Day highlights the important role healthy living plays in the realization of the Sustainable Development Goals, adopted in 2015 by all 193 UN Member States.
  • In India, the Union Government organised the event titled The National Event of Mass Yoga Demonstration at the Capitol Complex in Chandigarh where Prime Minister Narendra Modi himself performed yoga.


Appointments –

Exide Life Insurance signs Mahendra Singh Dhoni as brand ambassador


  • Exide Life Insurance, on Tuesday announced cricketer Mahendra Singh Dhoni as its brand ambassador.
  • Starting June 22, 2016, Dhoni will feature in the Exide Life Insurance marketing campaign “Lamba saath, bharose Ki baat.” (Long term relationships build trust).
  • Private life insurer Exide Life Insurance commenced operations in 2001-02 and is head quartered in Bengaluru. The company is 100% owned by Exide Industries Limited. During the financial year 2015-16, the company achieved total Premium Income of over Rs 2,000 crore.



World –

China’s Sunway TaihuLight declared world’s fastest supercomputer

  • Chinese supercomputer Sunway TaihuLight with 93 petaflop/second speed was on 20 June 2016 declared as the world’s fastest supercomputer. It was revealed in the TOP500 list of supercomputers released at the International Supercomputing Conference (ISC) in Frankfurt, Germany.
  • The list further revealed that the USA is not home to the largest number of systems. With a surge in industrial and research installations registered over the last few years, China leads with 167 systems and the USA is second with 165.
  • Asian share of 218 systems, up from 173 in November 2015, includes 8 supercomputers owned by Indian-based organizations.








Regards



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