Hello and welcome to exampundit . Here are the important Current Affairs for 20th July, 2016. These are important for the upcoming SBI PO Mains and UBI PO PGDBF 2016 Exams.
SBI, Brookfield Asset Mgmt to collaborate on investment in stressed assets
- State Bank of India (SBI), the country’s largest lender, as part of its ongoing stressed asset resolution process, has signed a memorandum of understanding (MoU) with Brookfield Asset Management Inc to collaborate on investments in stressed assets by forming a joint venture.
- SBI and Brookfield propose to form a joint venture (JV), whereby Brookfield will commit approximately Rs. 7,000 crore and SBI up to 5 per cent of total investments into stressed assets.
- Brookfield is a leading global alternative asset manager with over $240 billion of assets under management.
- The proposed joint venture will independently evaluate and invest in various stressed assets, and will rely upon Brookfield’s operational expertise to manage recapitalised businesses. The proposed joint venture may, at a later stage, seek participation from other lenders in the identified assets.
- SBI Chairman Arundhati Bhattacharya expressed optimism that this approach of collaborating with global players would enable the banks in general and SBI, in particular, to find an alternate solution for resolution of stressed assets.
- She opined that such an approach would be more acceptable to both lenders and borrowers in cases where the promoters are not able to infuse funds and lenders are reluctant to take additional exposure.
IRCTC, SBI sign MoU on promotion of rail ticketing activities
- Indian Railway Catering and Tourism Corporation (IRCTC) and the country's largest public sector bank, State Bank of India (SBI), have signed a Memorandum of Understanding (MoU) to hammer out a detailed plan for promotion of rail ticketing activities, including internet ticketing and unreserved ticketing system.
- Under the MoU, signed on Monday, the signatories "will jointly explore areas of cooperation and draw up a detailed plan for promotion of rail ticketing activities."
- IRCTC, a 'mini Ratna' PSU of Indian Railways which handles catering, tourism and Internet ticketing activities, and the SBI will also undertake development of Unreserved Ticketing System and "such other services which can be jointly undertaken".
- In addition, both parties will offer services jointly, subject to financial viability.
Cisco , Jharkhand sign MoU to enhance the IT skills of students
- US technology giant Cisco said that it has have signed a Memorandum of Understanding (MoU) with Government of Jharkhand to enhance the IT skills of students of Engineering Colleges and Polytechnics across the State.
- The partnership will focus on developing skills required for the new digital economy by providing them with the required technical knowledge through Cisco Networking Academy Program.
- Cisco will setup up to 15 networking academies in the State that will train up to 6000 students by 2020. The MoU was signed by Ajoy Kumar Singh, Secretary, Department of Higher & Technical Education, Government of Jharkhand and Dinesh Malkani, President, Cisco India & SAARC.
Odisha inks MoU with WTC for export promotion
- The Odisha government on Wednesday signed a Memorandum of Understanding (MoU) with the World Trade Centre (WTC) to promote and strengthen export activities.
- Odisha Small Industries Corporation (OSIC) of the state government signed the MoU with WTC, Mumbai.
- Micro, Small and Medium Enterprises (MSME) Minister Jogendra Behera said Odisha has a huge potential to become a leader in various products and services.
- The state government had formed OSIC for providing export marketing and service support to the MSE entrepreneurs of the state.
NITI Aayog, Intel India sign SoI to start Atal Tinkering Lab Initiative for Young Innovators
- The NITI Aayog on 19 July 2016 signed a Statement of Intent (SoI) with Intel India to start the Atal Tinkering Laboratories (ATL) initiative as a part of its flagship programme Atal Innovation Mission (AIM).
- The aim of setting up Atal Tinkering Laboratories is to build relevant skill sets among youngsters and to provide access to technology that will enable solutions.
Highlights of the Atal Tinkering Laboratories (ATL) initiative
- These laboratories intend to impact 250000 youth with innovation skills & skills for the future across 500 communities & schools.
- The initiative will enable the creation of millions of child innovators who will bloom into young entrepreneurs, thus enabling India’s unprecedented growth.
- Intel will co-lead the creation and management of ten ATLs as State Hubs.
- Intel will support NITI Aayog in building capacities of mentors and developing linkages with Maker ecosystem for quality improvement of projects made by youth, facilitating ideation, design thinking.
- Intel will co-lead an innovation festival which reaches out to 500000 young innovators.
Awards & Honors –
Rohit Khandelwal becomes first Indian to win Mister World title
- India's contestant Rohit Khandelwal won the coveted Mister World 2016 title on 19 July 2016. The grand finale of Mr World 2016 was held at the Southport Theatre & Convention Centre in Southport, U.K.
- With this, Khandelwal has become the first Indian and Asian to win the Mr World title at the competition.
- Mr World 2014 Nicklas Pedersen passed on the title to Khandelwal. He also won a cash prize of 50000 US dollar.
- Puerto Rico’s Fernando Alberto Alvarez Soto was named the first runner-up and Aldo Esparza Ramirez of Mexico was named the second runner-up.
Chennai's Advay Ramesh wins Google Community Impact Award from Asia
- Advay Ramesh, a Class 10 student from Chennai, on 19 July 2016 won the prestigious Google Community Impact Award from Asia, a theme based award part of Google Science Fair 2016.
- Ramesh bagged the award for creating a device that enhances fishermen's safety and productivity.
- Ramesh's FishErmen Lifeline Terminal (FELT) hand-held terminal uses the Standard Position Services (SPS), an open service without encryption provided by the Indian Regional Navigation Satellite System, to enhance fishermen's safety and productivity at the sea.
- The 14-year-old Ramesh is also among 20 finalists shortlisted to compete for a 50000 US dollar scholarship from Google.
Nigeria's Didi Akinyelure wins BBC World News Komla Dumor Award
- Nigerian journalist Didi Akinyelure on 19 July 2016 won the BBC World Service News Komla Dumor Award for 2016.
- Akinyelure is the second recipient of the award, which was established to honour Ghanaian BBC World News presenter Komla Dumor.
- The Award aims to celebrate African journalism and reward exceptional talent.
- Ugandan news anchor Nancy Kacungira was the winner of the first BBC World News Komla Dumor Award.
Coca-Cola appoints Sarvita Sethi as VP (Finance) for India and South West Asia
- Beverages company Coca-Cola on 19 July 2016 appointed Sarvita Sethi as the new Vice-President (Finance) for India and South West Asia.
- Sethi took the charge from Sanjeev Kumar, who is moving to Lagos as Director-Finance for Coca-Cola West Africa. He will also be heading company’s finance operations for 31 countries.
- Sethi will be reporting to Coca-Cola India and South West Asia President Venkatesh Kini.
- The India and South West Asia Business Units of The Coca-Cola Company includes India, Nepal, Bhutan, Bangladesh, Sri Lanka and Maldives.
- Before being appointed as the VP (Finance), Sethi served as the Commercial Finance -Director for the Coca-Cola Central and Southern Europe business.
Steve Elworthy appointed Managing Director of 2019 World Cup
- Steve Elworthy, the former South Africa fast bowler, on 19 July 2016 was appointed the Managing Director (MD) of the 2019 World Cup, which will be held in England and Wales.
- In his new role, Elworthy will oversee the lead-up and running of the 2019 World Cup as well as the Champions Trophy and Women's World Cup. The Champions Trophy and Women's World Cup will be hosted by the England and Wales Cricket Board (ECB) in 2017.
- Elworthy has previously been the Tournament Director for the 2007 and 2009 World T20s and the 2013 Champions Trophy.
Canada to conduct world's first Zika vaccine test on humans
- A Canadian university in July 2016 said that it will conduct the world's first Zika vaccine test on humans. The vaccine that is under development will be tested on humans in the near future. Until now, vaccines have been tested on mice.
- Professor Gary Kobinger of the Universite Laval, based in Quebec City, said that they are very proud to be part of the first international team in the world to complete all of the steps in the regulatory process for the test.
- He said that development of the Zika vaccine has been authorized by the US Food and Drug Administration and Health Canada.
- Kobinger, a doctor of microbiology and professor of medicine at the university, is overseeing the study.
Books & Authors –
The Great Derangement: Climate Change and the Unthinkable authored by Amitav Ghosh
- The Book titled The Great Derangement: Climate Change and the Unthinkable authored by Indian novelist Amitav Ghosh was released on 12 July 2016.
- The book addresses the challenges of representing the complexity of climate change in literature and the responsibility of writers to document the extreme reality humans are now facing. He examines the inability at the level of literature, history and politics to grasp the scale and violence of climate change.
- Ghosh shows that the history of the carbon economy is a tangled global story with many contradictory and counterintuitive elements.
Hockey legend Mohammed Shahid dies
- Mohammed Shahid, one of the greatest names in Indian hockey, died on 20 July 2016 due to severe liver condition and kidney failure. He was 56.
- Shahid was the part of the Indian hockey team that won the gold medal at the 1980 Moscow Olympics.