Hello and welcome to exampundit . Here are the important Current Affairs of 13th July, 2016. These are important for the upcoming SBI PO Mains and UBI PO PGDBF 2016 Exams.
SBI inks MoU with IIT Bombay to promote fintech start-ups
- State Bank of India (SBI) in the second week of July 2016 signed a Memorandum of Understanding (MoU) with the Indian Institute of Technology Society for Innovation and Entrepreneurship (SINE).
- The MoU was signed to promote innovation by start-ups in the financial sector.
- The deal also aims to help evaluate start-ups operating out of SINE or those being promoted by SINE for early stage funding within the bank’s norms.
- SINE is IIT Bombay’s technology business incubator.
Key highlights of the MoU
- Both the parties will identify FinTech start-ups that have products or applications to cater to the financial sector and can help SBI explore opportunities to enhance the synergy for their banking services.
- SBI will provide a platform for testing/piloting such products/applications.
- SBI will also check for any specific business linkages.
- SBI will interact with the entrepreneurial and research community at IIT Bombay, including e- cell, Desai Centre, startups of SINE. The interaction will be done to get a better idea of the latest research being done, innovations and also conduct knowledge sessions for mutual benefit.
- If SBI decides to infuse funds in the startups, SINE may help the bank do initial screening for technical competency, impact of innovation etc.
- If SBI decides to infuse funds in any of the start-ups at SINE, the funding model will be considered on case to case and merit basis.
GoAir inks MoU with Airbus for 72 A320neo aircraft
- In a bid to expand its operation on the domestic front and start its international operations, Go Air — the country’s third largest low cost airline — on Tuesday signed a memorandum of understanding (MoU) with French aircraft manufacturer Airbus for an order of 72 A320 aircraft at the Farnborough International Airshow.
- This will take the total order book to 144 aircraft for the airline owned by the Wadia Group.
- The Mumbai-based airlines has an existing capacity of 20 aircraft and it needs only one more aircraft to make itself eligible for starting international operations.
- The airline has been planning to start its international operations for some time now and is expected to come out with an Initial Public Offering (IPO) later this year. Earlier this year the low cost airline took the delivery of two A320 Neo aircraft.
Vistara, Axis Bank launch co-branded credit cards
- Full service carrier Vistara and leading private sector lender Axis Bank today entered into a partnership to launch co-branded premium credit cards.
- While Axis Bank already has a similar tie-up with the German carrier Lufthansa, this is first of its kind with a domestic carrier for it.
- Under the partnership,the bank will offer three variants of contactless cards to its existing banking customers.
- The cards come with an annual fee of Rs. 1,500, Rs. 3,000 and Rs. 10,000 for the top-end variety and are aimed at corporate and leisure travellers and the members get free upgrades and other loyalty benefits on buying tickets with this cobranded card.
India and Bangladesh sign deal for construction of coal fired power plant
- India and Bangladesh on 12 July 2016 signed a landmark deal for the construction of Rampal Power Station, a 1320 megawatt coal fired power plant.
- The Rampal Power Station is the biggest project under bilateral cooperation.
Key highlights of the agreement
- The Bangladesh-India Friendship Power Company Limited (BIFPCL), the joint venture enterprise, signed the deal with Bharat Heavy Electricals Limited (BHEL).
- BHEL was chosen under an open international tender for constructing the super thermal plant at Bangladesh's southwestern Rampal near the Sundarbans.
- India's Exim Bank will provide 1.49 billion US dollars for the project.
- The project is scheduled to start generating power in 2019.
Ashok Patnaik to be new CEO of NATGRID
- Ashok Patnaik, a senior IPS officer, was today appointed as the CEO of NATGRID, a robust intelligence gathering mechanism being set up to track terror suspects and incidents.
- Patnaik, a 1983-batch Gujarat cadre officer, currently serving as Additional Director in the Intelligence Bureau, will be responsible for taking forward the government's efforts to set up the highly sophisticated security set up, official sources said.
- Patnaik is the son-in-law of former Prime Minister Manmohan Singh.
Books & Authors –
Ringside With Vijender authored by Rudraneil Sengupta released
- The book titled Ringside With Vijender authored by Rudraneil Sengupta released on 8 July 2016.
- The book, published by Juggernaut Books, throws light on the Beijing Olympics bronze medallist boxer Vijender Singh's life post his transition to the world of pro boxing.
- The book also deals with the boxer’s sudden decision to turn pro just an year ahead of the Rio Olympics. It also offers an insight into his struggles, changes in his boxing style, training and his personal life.
Prize-winning world historian William H McNeill dies at 98
- William H McNeill, the prize-winning scholar who wove the stories of civilizations worldwide into the landmark “The Rise of the West” and helped pioneer the history of disease and epidemics in “Plagues and People,” has died at age 98.
- McNeill died on Friday at his home in Torrington, Connecticut, according to Steve Koppes, associate news director at the University of Chicago, where McNeill was a professor emeritus.
- McNeill wrote more than a dozen books, notably “The Rise of the West,” published in 1963 and greeted by The New York Times as “the most stimulating and fascinating” work of world history ever released.