Tuesday, July 19, 2016

Current Affairs Update – 19th July, 2016

Hello and welcome to exampundit . Here are the important Current Affairs for 19th July, 2016. These are important for the upcoming SBI PO Mains and UBI PO PGDBF 2016 Exams.

Current Affairs at a Glance – 19th July, 2016
  1. The government on Tuesday provided Rs. 22,915 crore capital to 13 PSU banks including SBI, PNB and IOB to enhance their lending operations and enable them to raise more money from the market.
  2. The Indian government signed a three-point bilateral agreement with the US government aiming to harness new technologies in the hydrocarbon sector.
  3. India’s first e-court was opened at High Court of Judicature at Hyderabad on 17 July 2016. It was inaugurated by Supreme Court judge Justice Madan B Lokur who heads the e-Committee of the Supreme Court.
  4. American Ports have evinced a keen interest in comprehensive port-led development, especially the ambitious Sagarmala programme, Indian officials said as the Union Road Transport and Highways Minister Nitin Gadkari concluded his week-long trip here.
  5. The Netherlands and Uttar Pradesh on 14 July 2016 signed a Memorandum of Understanding (MoU) to set up a skill development centre to help farmers.
  6. The Central Board of Direct Taxes (CBDT) on 18 July 2016 signed seven Unilateral Advance Pricing Agreements (APAs) with Indian taxpayers. Some of the agreements also have a Rollback provision as well.
  7. World Bank Group on 18 July 2016 appointed Paul Romer as World Bank Chief Economist with effect from September 2016. Romer is a widely respected economist and a successful entrepreneur.
  8. Abdul Wahid Tanveer of Team TVS on 17 July 2016 clinched the 2016 MRF MoGrip FMSCI National Rally Championship for two-wheelers, as he extended his run to the fourth round at the MRF Rally of Coimbatore in the six-round competition.
  9. The World Health Organisation on 18 July 2016 released a report of 2015 Non-communicable Diseases (NCD) Global Survey.


Finance/Banking/Industry –

Govt infuses Rs 22,915 cr capital into 13 PSU banks


  • The government on Tuesday provided Rs. 22,915 crore capital to 13 PSU banks including SBI, PNB and IOB to enhance their lending operations and enable them to raise more money from the market.
  • This is the first tranche of capital infusion for the fiscal and more funds would be provided in future depending upon the performance of PSU banks, a Finance Ministry statement said.
  • Out of the Rs. 22,915 crore, State Bank of India (SBI) received Rs. 7,575 crore followed by Indian Overseas Bank (Rs. 3,101 crore) and Punjab National Bank (Rs. 2,816 crore).
  • The other lenders, which have received capital infusion are Bank of India (Rs. 1,784 crore), Central Bank of India (Rs. 1,729 crore), Syndicate Bank (Rs. 1,034 crore), UCO Bank (Rs. 1,033 crore), Canara Bank (Rs. 997 crore), United Bank of India (Rs. 810 crore), Union Bank of India (Rs. 721 crore), Corporation Bank (Rs. 677 crore), Dena Bank (Rs. 594 crore) and Allahabad Bank (Rs. 44 crore).
  • The capital infusion exercise for the current fiscal is based on an assessment of need as assessed from the compounded annual growth rate (CAGR) of credit growth for the last five years, banks’ own projections of credit growth and an objective assessment of the potential for growth of each PSBs, the Ministry said.


India, US sign bilateral agreement for hydrocarbon sector


  • The Indian government signed a three-point bilateral agreement with the US government aiming to harness new technologies in the hydrocarbon sector.
  • The agreement was signed between Oil Minister Dharmendra Pradhan and US Secretary of Energy Dr Ernest Moniz in Washington.
  • The two countries agreed to enhance institutional and technical cooperation in specific areas such as assessment and unconventional hydrocarbon reserves in India both onshore and offshore; new technologies in development of second generation bio-fuel and development of petroleum storage.
  • The bilateral energy co-operation between India and US started in the form of energy dialogue in 2005 under which oil and gas. As part of the bilateral arrangements, Indian companies have also invested in shale oil and gas projects in the US, i.e. GAIL has 20% equity in Eagle Ford basin; IOC and OIL have 10% equity in Niobrara basin. GAIL already has signed contract for annual import of close to 5.8 MMT LNG from US by next year.


India, US agree to enhance cooperation in maritime sector


  • American Ports have evinced a keen interest in comprehensive port-led development, especially the ambitious Sagarmala programme, Indian officials said as the Union Road Transport and Highways Minister Nitin Gadkari concluded his week-long trip here.
  • Gadkari had a tour of the Port of Long Beach.
  • During his meeting with officials, Gadkari explored joint-venture opportunities with India's flagship container handling Jawaharlal Nehru Port to promote transfer of technology and enhance bilateral commerce.
  • The Union minister offered investment opportunities in building and developing new ports, construction of new berths and terminals in existing ports, coastal economic zones, dredging, ship building, ship repairing, ship recycling, development of inland waterways and coastal and cruise shipping, he said.
  • The Sagarmala programme, with 150 projects, has the potential of mobilising $50-60 Billion of infrastructure investment and another $100 Billion of promoting industrial growth.


Netherlands-UP signs agreement for setting up skill development centre for farmers


  • The Netherlands and Uttar Pradesh on 14 July 2016 signed a Memorandum of Understanding (MoU) to set up a skill development centre to help farmers.
  • The MoU would ensure that farmers get information on food processing as well as along with use of modern techniques to boost production of sugarcane, potato, dairy development and flowers.
  • Besides, the Dutch government would also help in cleaning the Yamuna in Agra and in sewage treatment. Under this agreement, it would assist the state in solid waste management, urban development and infrastructure. It will also assist the state in water management, water supply, and cleanliness of water resources, sewage treatment, transport management and revival of water bodies.
  • Other than this, the Netherlands would also help in land reclamation of 1500 acres in the Ganga basin in Kanpur and development of cultural heritage.
  • As per official release, the MoU will remain operational for the next three years.


CBDT signs seven Unilateral Advance Pricing Agreements with Indian taxpayers


  • The Central Board of Direct Taxes (CBDT) on 18 July 2016 signed seven Unilateral Advance Pricing Agreements (APAs) with Indian taxpayers. Some of the agreements also have a Rollback provision as well.
  • The 7 APAs pertain to various sectors of economy like banking, Information Technology and Automotives. The international transactions covered in these agreements include software development Services, IT enabled Services, Engineering Design Services & Business Support Services.


Softbank to acquire ARM Holdings for $32 billion


  • Japan's Softbank on 18 July 2016 agreed to acquire ARM Holdings, the U.K. based semiconductor firm, in a deal worth more than 32 billion US dollar.
  • As part of its bid to bolster its presence in the growing internet of things (IoT) sector, Softbank will pay about 22.50 US dollar per share for ARM.
  • The deal is the first major cross-border transaction in Britain since it voted to exit the European Union in June 2016.



India –

India's first e-court opened at Hyderabad High Court


  • India’s first e-court was opened at High Court of Judicature at Hyderabad on 17 July 2016. It was inaugurated by Supreme Court judge Justice Madan B Lokur who heads the e-Committee of the Supreme Court.
  • Hyderabad High Court is the common high court for the states of Andhra Pradesh and Telangana.


Highlights of the e-court
  • The purpose of e-court is to ensure speedy justice for the litigants.
  • The e-Courts will ensure easy and better access to justice for public.
  • It will also provide solution for large number of pending cases in the country.
  • It will also make the work of judges, advocates and all those related with judiciary a lot more effective.

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Appointments –

World Bank Group appoints Paul Romer as Chief Economist


  • World Bank Group on 18 July 2016 appointed Paul Romer as World Bank Chief Economist with effect from September 2016. Romer is a widely respected economist and a successful entrepreneur.
  • Romer will join the Bank at a critical time when the field of development is transforming under the forces of rapid technological change, globalization, and demography.
  • As Chief Economist, Romer will support the President and the senior management in leading the institution and inspiring the development profession during this time of transformative change.


Malcolm Turnbull sworn in as Australia’s PM for another term


  • Malcolm Turnbull on 19 July 2016 was sworn in as the Prime Minister of Australia for another term.
  • Turnbull was sworn in after a narrow election victory with budget repair and a public vote on same sex marriage among his top priorities.


Sports –

Abdul Wahid Tanveer wins 2W MRF Rally of Coimbatore


  • Abdul Wahid Tanveer of Team TVS on 17 July 2016 clinched the 2016 MRF MoGrip FMSCI National Rally Championship for two-wheelers, as he extended his run to the fourth round at the MRF Rally of Coimbatore in the six-round competition.
  • Bengaluru-based Wahid, riding a TVS RTR 450, clocked 1 hour 02 min, 13 seconds to complete the challenging Special Stages set around the wind farms near the Kethanur (Palladam) area.
  • The total distance of the route was approximately 145 km and total distance of the special stages was about 70 km.


Reports –

WHO releases report of 2015 Non-communicable Diseases Global Survey


  • The World Health Organisation on 18 July 2016 released a report of 2015 Non-communicable Diseases (NCD) Global Survey.
  • The report highlights the need to intensify national action to meet the global targets governments have agreed to protect people from heart disease, cancers, diabetes, and lung diseases.
  • However, the global survey titled Assessing national capacity for the prevention and control of noncommunicable diseases shows that some countries are making remarkable progress.
  • The Sustainable Development Goals agenda includes a target to reduce premature deaths from NCDs by 30 per cent by 2030.
  • Trends in national capacity for NCDs were derived from comparing the results of the 2015 survey with those from the capacity surveys conducted in 2013 and 2010.

Key findings of the survey
  • Globally, four NCDs, which are cardiovascular diseases, cancer, diabetes and chronic respiratory diseases, represent the largest cause of death in people aged under 70 years.
  • In all, 91% of countries (177) responded to the survey.
  • Only 23% of countries reported having a dedicated office, department, or administrative division within the ministry of health exclusively dedicated to NCD surveillance.

Key findings of the report in regard to India
  • Cancer, diabetes and heart diseases account for 55% of the premature mortality in India in the age group of 30-69 years.
  • India is the first country to develop specific national targets and indicators aimed at reducing the number of premature deaths from NCDs by 25% by 2025.


Obituaries –

Legendary singer Mubarak Begum passes away in Mumbai

  • Legendary singer Mubarak Begum died at her residence in Mumbai on 18 July 2016 after a prolonged illness. She was 80.
  • She is remembered for singing scores of songs, duets and ghazals for Bollywood, mainly during the 1950s-1970s.







Regards



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