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Thursday, July 14, 2016

Current Affairs Update – 14th July, 2016

Hello and welcome to exampundit . Here are the important Current Affairs of 14th July, 2016. These are important for the upcoming SBI PO Mains & UBI PO PGDBF Exams 2016.

Current Affairs at a Glance – 14th July, 2016
  1. The Union Cabinet on 13 July 2016 approved the Pradhan Mantri Kaushal Vikas Yojana (PMKVY) with an outlay of 12000 crore rupees to impart skilling to one crore people over the next four years (2016-2020).
  2. The Government of India and the Asian Development Bank (ADB) today signed a $100 million loan agreement to strengthen key irrigation and drainage system and improve water management in the Vennar sub-basin of the Cauvery delta in Tamil Nadu.
  3. Union Government on 12 July 2016 constituted a high-level committee to review the minimum support price (MSP) and bonus for pulses. The committee will be headed by Chief Economic Adviser Arvind Subramanian.
  4. The Union Government on 12 July 2016 notified the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016.
  5. The Cabinet Committee on Economic Affairs (CCEA) on 13 July 2016 approved the disinvestment of 15% paid up equity of National Buildings Construction Corporation Limited (NBCC). At present, Union Government holds 90 percent shareholding of the corporation (i.e. 54 crore share).
  6. Queen Elizabeth-II appointed Theresa May as the 76th Prime Minister of the United Kingdom (UK) on 13 June 2016. She was appointed as prime minister following her election as the leader of Britain's ruling Conservative Party.
  7. Vistara has appointed Ravinder Pal Singh its chief information officer, who will be in charge of the full-service carrier's IT as well as innovation functions.
  8. Union Government on 13 July 2016 started the operation 'Sankat Mochan' to evacuate its citizens stranded in South Sudan's capital Juba. Two C-17 military transport aircrafts have been pressed in service to make the evacuation.
  9. Hockey Olympian Joe Antic passed away on 12 July 2016 in Mumbai. He was 90.




Finance/Banking –

Union Cabinet approves Pradhan Mantri Kaushal Vikas Yojana


  • The Union Cabinet on 13 July 2016 approved the Pradhan Mantri Kaushal Vikas Yojana (PMKVY) with an outlay of 12000 crore rupees to impart skilling to one crore people over the next four years (2016-2020).
  • PMKVY will impart fresh training to 60 lakh youths and certify skills of 40 lakh persons acquired non-formally under the Recognition of Prior Learning (RPL). The target allocation between fresh trainings and RPL will be flexible and interchangeable depending on functional and operational requirements.

Highlights of the Pradhan Mantri Kaushal Vikas Yojana (PMKVY)
  • It will move to a grant based model where the training and assessment cost would be directly reimbursed to training providers and assessment bodies in accordance with the Common Norms.
  • Financial support to trainees will be given in the form of travel allowance, boarding and lodging costs.
  • Post placement support would be given directly to the beneficiaries through Direct Benefit Transfer (DBT).
  • Disbursement of training cost to training partners will be linked to Aadhaar and biometrics for better transparency and targeting.
  • Skill training would be done based on industry led standards aligned to the National Skill Qualification Framework (NSQF).
  • Mobilisation, monitoring and post training placement of trainees will be done through Rozgar Melas (placement camps) and Kaushal Shivirs (mobilization camps).
  • There will be special focus on placement of trainees with incentives/disincentives linked to placement as envisaged in the Common Norms.
  • It will also cater to domestic skill needs, also focus on skill training aligned to international standards for overseas employment in Gulf countries, Europe and other overseas destinations.
  • There will be scholarship for student undergoing training in high end job roles under the Scheme.


GoI and ADB sign $100 mn loan to tackle climate threats at Cauvery delta


  • The Government of India and the Asian Development Bank (ADB) today signed a $100 million loan agreement to strengthen key irrigation and drainage system and improve water management in the Vennar sub-basin of the Cauvery delta in Tamil Nadu.
  • The financing will be used to strengthen embankments of six major irrigation water channels at the Vennar system and rehabilitate 13 irrigation pumping schemes.
  • A separate project agreement was signed by V Shanmugam, Chief Engineer, Water Resources Department, on behalf of the State of Tamil Nadu.
  • The loan from ADB's ordinary capital resources has a 25-year term. The Water Resources Department of the state of Tamil Nadu is responsible for implementing the project, which is expected to be completed by December 2020.


Arvind Subramanian panel constituted to tackle pulses shortage


  • Union Government on 12 July 2016 constituted a high-level committee to review the minimum support price (MSP) and bonus for pulses.
  • The committee will be headed by Chief Economic Adviser Arvind Subramanian. It has been asked to submit its report within two weeks.

Cause of action of the panel
  • It will look into various options to frame a long-term policy on pulses to tackle shortage.
  • It will suggest an appropriate policy to promote cultivation of lentils in India.
  • It will find the measure to contain the rising prices of pulses in the country.


Union Government notifies Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016


  • The Union Government on 12 July 2016 notified the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016.
  • The government also operationalised some of provisions of the Act, giving a legal shape to UIDAI.
  • The bill seeks to provide for targeted delivery of subsidies and services to individuals residing in India by assigning them unique identity numbers, called Aadhaar numbers.
  • Besides, the Union Government has also separately notified the UIDAI (Terms and Conditions of Service of Chairperson and Members) Rules, 2016. The Act will pave the way for appointment of its chairperson and members.

Features of the Aadhaar Bill, 2016
  • Eligibility: Every resident shall be entitled to obtain an Aadhaar number.  A resident is a person who has resided in India for 182 days, in the one year preceding the date of application for enrolment for Aadhaar.
  • Information to be submitted: To obtain an Aadhaar number, an individual has to submit his (a) biometric (photograph, finger print, iris scan) and (b) demographic (name, date of birth, address) information.  The Unique Identification Authority (UID) may specify other biometric and demographic information to be collected by regulations.
  • Enrolment: At the time of enrolment, the individual will be informed of the manner in which the information will be used, the nature of recipients with whom the information will be shared and the right to access this information.

After verification of information provided by a person, an Aadhaar number will be issued to him.

Union Cabinet approves disinvestment of 15% in NBCC


  • The Cabinet Committee on Economic Affairs (CCEA) on 13 July 2016 approved the disinvestment of 15% paid up equity of National Buildings Construction Corporation Limited (NBCC). At present, Union Government holds 90 percent shareholding of the corporation (i.e. 54 crore share).
  • This disinvestment would help the government to earn about 1706 crore rupees.
  • However, the actual realization amount will depend upon the market conditions and the investor interest prevailing at the time of actual disinvestment.
  • Besides, in order to inculcate a sense of belongingness amongst the employees of NBCC, it has also been decided to allot additional shares to the eligible and willing employees at a discount of 5% to the Issue/discovered (lowest cut-off) price of the OFS.


Union Cabinet approves revival of defunct Fertilizer Units in Gorakhpur, Sindri and Barauni

  • The Union Cabinet on 13 July 2016 approved the revival of defunct Fertilizer Units in Gorakhpur, Sindri and Barauni.

The units to be revived includes
  • Sindri (Jharkhand) and Gorakhpur (Uttar Pradesh) of Fertilizer Corporation India Limited (FCIL)
  • Barauni (Bihar) unit of Hindustan Fertilizers Corporation Limited (HFCL)


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Appointments –

Theresa May appointed Prime Minister of United Kingdom


  • Queen Elizabeth-II appointed Theresa May as the 76th Prime Minister of the United Kingdom (UK) on 13 June 2016. She was appointed as prime minister following her election as the leader of Britain's ruling Conservative Party.
  • With this appointment, she became the second women to assume the office of Prime Minister of the UK. The first women prime minister was Margaret Thatcher who was in the office of PM from 1979 to 1990.
  • She succeeded David Cameron who resigned from the post on the same day following Brexit vote. Cameron tendered his resignation to the Queen. Britons on 22 June 2016 voted to exit the European Union.


India-born Kinshuk appointed as Dean of University of North Texas College of Information

  • An Indian-American professor Dr Kinshuk was on 12 July 2016 appointed as the Dean of University of North Texas College of Information in the United States with effect from 15 August 2016.
  • Kinshuk has a diverse set of academic experience in the field of science and technology.


Vistara names Ravinder Pal Singh as CIO


  • Vistara has appointed Ravinder Pal Singh its chief information officer, who will be in charge of the full-service carrier's IT as well as innovation functions.
  • He would consolidate, identify, acquire, evaluate and incubate the right technology to support the airline's IT and digital platforms, the airline said in a release on Thursday.
  • Vistara — a joint venture between the Tatas and Singapore Airlines — has a fleet of 11 aircraft.


India –

Operation ‘Sankat Mochan’ launched to evacuate Indian citizens from South Sudan


  • Union Government on 13 July 2016 started the operation 'Sankat Mochan' to evacuate its citizens stranded in South Sudan's capital Juba. Two C-17 military transport aircrafts have been pressed in service to make the evacuation.
  • The operation being undertaken by Indian Air Force (IAF) will be headed by Minister of State for External Affairs General (Retd.) VK Singh.
  • The Indian Ambassador in South Sudan Srikumar Menon and his team is organising this operation on the ground. Indian Embassy in Juba in an advisory had communicated that all the stranded Indian citizens should get in touch immediately with the embassy to avail the facility.


Obituaries –

India's Olympic Silver Medalist Joe Antic passed away

  • Hockey Olympian Joe Antic passed away on 12 July 2016 in Mumbai. He was 90.
  • Antic represented the country in the Rome Games where Pakistan won the final between the arch-foes 1-0.
  • The hockey player was also a part of the hockey squad that finished runner-up, again to Pakistan, in the Asian Games at Jakarta.






Regards



Team ExamPundit

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