Current Affairs Update – 5th July, 2016

Hello and welcome to exampundit . Here are the important Current Affairs of 5th July, 2016. These are important for the upcoming SBI PO Mains & UBI PO PGDBF Exams 2016.


Current Affairs at a Glance – 5th July, 2016
  1. Government today permitted Axis Bank to raise foreign shareholding to 74 per cent, entailing investment of around Rs 13,000 crore.
  2. SBI Cards and Payment Services (SBI Card), the third largest card issuer, on Tuesday launched a premium credit card by the name ELITE.
  3. India’s first commercial dispute resolution centre and commercial court was inaugurated on 2 July 2016 at Naya Raipur, Chhattisgarh.
  4. Tata Consultancy Services (TCS) is partnering with the Royal College of Physicians in Ireland to deploy iON cloud solutions to create an online community of doctors.
  5. India’s largest incubator T-Hub on Tuesday signed an MoU with Aeries Technology Group, a global services company offering technology, BPM and outsourcing solutions, for “fault-tolerant server” and software technology for start-ups to host and test their applications.
  6. Jawaharlal Nehru Port on 1 July 2016 became the first port in India to implement logistics data tagging of containers.
  7. Country’s largest two-wheeler maker Hero MotoCorp Ltd. (HMCL) has inked a wage settlement pact with its permanent workers at Gurgaon Plant, entailing a hike of 12500 rupees spread over three years.
  8. Union Council of Ministers was reshuffled and expanded with inclusion of 19 new Ministers of State on 5 July 2016. The new inductees were administered the oath of office and secrecy at the Rashtrapati Bhavan by President Pranab Mukherjee. Besides, Minister of State with independent charge, Prakash Javdekar was elevated to the Cabinet rank.
  9. World Bank on 1 July 2016 released the Logistics Performance Index 2016 titled ‘Connecting to compete: 2016: Trade Logistics in the Global Economy.’ The 2016 Logistics Performance Index (LPI) allows for comparisons across 160 countries. Germany tops the 2016 rankings and is followed by Luxembourg, Sweden, Netherlands, and Singapore.  India’s ranking jumped from 54 in 2014 to 35 in 2016.
  10. Noted scientist Madhav Dhekane on 1 July 2016 assumed the office of Director at ISRO Inertial Systems Unit (IISU), Department of Space, at Vattiyoorkavu in Thiruvananthapuram, Kerala.
  11. Javeline thrower Annu Rani on 2 July 2016 bettered her national record with a 59.87m throw at the 56th National Inter-State Senior Athletics Championships in Hyderabad.
  12. Para swimmer Niranjan Mukundan won eight medals, including three gold medals, at the International Wheelchair and Amputee Sports (IWAS) U-23 World Games.
  13. American actor Noel Neill, the first actor to play the role Lois Lane on the Adventures of Superman television series died on 3 July 2016. She was 95.



Finance/Banking/Industry –

CCEA allows Axis Bank to raise foreign shareholding to 74%


  • Government today permitted Axis Bank to raise foreign shareholding to 74 per cent, entailing investment of around Rs 13,000 crore.
  • Cabinet Committee on Economic Affairs (CCEA) headed by Prime Minister Narendra Modi cleared the proposal of Axis Bank for increasing foreign shareholding limit from existing 62 per cent to 74 per cent.
  • The proposal would lead to foreign investment of about Rs 12,973 crore.
  • At present, private banks have a total foreign limit of 74 per cent, of which FII limit is 49 per cent.
  • Earlier this year, inter-ministerial panel FIPB headed by Economic Affairs Secretary Shaktikanta Das recommended the Axis Bank's proposal to the CCEA as the capital inflow was over Rs 5,000 crore.
  • The Foreign Investment Promotion Board (FIPB) can clear proposals worth up to Rs 5,000 crore.


SBI Cards launches ELITE


  • SBI Cards and Payment Services (SBI Card), the third largest card issuer, on Tuesday launched a premium credit card by the name ELITE.
  • Launched on the MasterCard World platform, the SBI Card ELITE has bundled several privileges and benefits for the high networth individuals--premium category customers.
  • Enabled with Near Field Communication (NFC) technology, SBI Card ELITE allows customers a contactless payment experience, adding more speed and suave to their wallets.


India’s first Commercial Court & Disputes Resolution Centre inaugurated in Chattisgarh


  • India’s first commercial dispute resolution centre and commercial court was inaugurated on 2 July 2016 at Naya Raipur, Chhattisgarh.
  • The centre and court were inaugurated by Chhattisgarh Chief Minister Dr. Raman and Justice Madan B. Lokur of the Supreme Court of India.

Highlights
  • The court also consists of arbitration centre and a mediation centre.
  • Some facilities available for litigants through the new system includes video-conferencing, E-Court, E-Library, E-Filing and E-Summons.
  • These ultra-modern facilities available at the court will facilitate the investors in their commercial dealings.
  • The Court will help in improving the judicial system.


TCS partners with Royal College of Physicians of Ireland

  • Tata Consultancy Services (TCS) is partnering with the Royal College of Physicians in Ireland to deploy iON cloud solutions to create an online community of doctors.
  • The new tool called The Physician Network is a resource based on the TCS iON Digital Learning Platform to enable virtual 'common-interest communities' and facilitate best practice knowledge-sharing.
  • TCS iON is a strategic unit of Tata Consultancy Services focused on manufacturing industries, educational institutions and exam boards. They provide technology by means of a unique IT-as-a-service model, offering end-to-end business solutions for the sector.


T-Hub, Aeries Technology ink MoU for “fault-tolerant server”

  • India’s largest incubator T-Hub on Tuesday signed an MoU with Aeries Technology Group, a global services company offering technology, BPM and outsourcing solutions, for “fault-tolerant server” and software technology for start-ups to host and test their applications.
  • According to a statement issued by T-Hub, Aeries Technology will be offering its Stratus-branded fault-tolerant, “always-on” software and server technology platform that enables the highest level of availability, virtualisation and easy maintenance for all Web and enterprise grade applications.
  • Aeries Technology Group Chairman Raman Kumar said the MoU is a milestone for Aeries to partner with T-Hub to provide Stratus state-of-the-art and cutting edge server and software technology in an experiential setting.


Jawaharlal Nehru Port becomes India’s first port to implement Logistics Data Tagging of Containers


  • Jawaharlal Nehru Port on 1 July 2016 became the first port in India to implement logistics data tagging of containers.
  • The implementation of the logistics data bank tagging of containers will help importers/exporters track their goods in transit through logistics data bank service.

Key highlights of the implementation
  • A Radio Frequency Identification Tag (RFID) will be attached to each container. The containers will be tracked through RIFD readers installed at different locations.
  • This will provide the Visibility and Transparency of the EXIM Container Movement by covering the entire movement through rail or road till the Inland Container Depots (ICDs) and Container Freight Stations (CFSs).
  • The service will integrate the information available with various agencies across the supply chain to provide detailed real time information within a single window.


Hero MotoCorp inked 3-year wage agreement with Gurgaon workers

  • Country’s largest two-wheeler maker Hero MotoCorp Ltd. (HMCL) has inked a wage settlement pact with its permanent workers at Gurgaon Plant, entailing a hike of 12500 rupees spread over three years.
  • The three-year agreement will be implemented with retrospective effect starting from 1 August 2015 till 31 July 2018. The previous wage settlement was effective from 1 August 2012 to 31 July 2015.
  • Hero MotoCorp employs about 1400 permanent employees at its Gurgaon facility.


Sponsored






India –

Cabinet Reshuffle: 19 New Ministers included


  • Union Council of Ministers was reshuffled and expanded with inclusion of 19 new Ministers of State on 5 July 2016. The new inductees were administered the oath of office and secrecy at the Rashtrapati Bhavan by President Pranab Mukherjee.
  • Besides, Minister of State with independent charge, Prakash Javdekar was elevated to the Cabinet rank.
  • Of the inductees, three each are from Uttar Pradesh, Madhya Pradesh and Gujarat. Rajasthan has got four berths in expansion while Maharashtra two. There is one Minister each from West Bengal, Assam, Karnataka and Uttarakhand.
  • Of the nineteen new ministers, 17 are from the BJP, one each from Apna Dal and RPI. There are two minority leaders - MJ Akbar and SS Ahluwalia and two women Anupriya Singh Patel and Krishna Raj.

The Ministers of State are
  1. Faggan Singh Kulaste – A prominent tribal leader and Member of Parliament from Barbati in Madhya Pradesh.
  2. Surendrajeet Singh Ahluwalia – He is Member of Parliament from Darjeeling.
  3. Ramesh Chandappa Jigjinagi - a Dalit leader and Lok Sabha MP (five times) from Bijapur, Karnataka.
  4. Vijay Goel – He is a BJP leader from Delhi and was elected to Rajya Sabha from Rajasthan.
  5. Ramdas Athawale – He is the chief of Republican Party of India (Athawale) is a seasoned Dalit leader and a vocal Ambedkarite. He is the lone Rajya Sabha member.
  6. Rajen Gohain – He is a BJP MP (4th term in Lok Sabha) from Nawgong Assam.
  7. Anil Madhav Dave – He is a Rajya Sabha MP from Madhya Pradesh and is an environmentalist. He has written several books on the subject.
  8. Parshottam Rupala – He is a Rajya Sabha MP from Gujarat and this is his second term as a Rajya Sabha member.
  9. MJ Akbar - Rajya Sabha MP from Madhya Pradesh.
  10. Arjun Ram Meghwal – He is a Lok Sabha MP from Bikaner, Rajasthan.
  11. Jaswant Sinh Bhabhor – He is a tribal leader and a Member of the Parliament from Dahod constituency in Gujarat.
  12. Dr Mahendra Nath Pandey – He is a BJP Lok Sabha MP from Chandauli, Uttar Pradesh.
  13. Ajay Tamta - He is also a Dalit leader from the hill state of Uttarakhand. He is a Lok Sabha member from the Almora constituency.
  14. Krishna Raj – She is a Dalit leader from UP's Rohilkhand region and a Lok Sabha member from UP's Shahjahanpur.
  15. Mansukh Mandaviya – A native of Bhavnagar in Gujarat and a prominent leader from the Patel community is a Rajya Sabha MP from Gujarat.
  16. Anupriya Singh Patel – She is the daughter of the late Sone Lal Patel, a Kurmi leader with significant influence in Uttar Pradesh. She is a Lok Sabha MP from Mirzapur in Uttar Pradesh.
  17. C R Chaudhary – He holds a degree from the University of Birmingham and carries an expertise in the field of rural development. He is a BJP MP from Nagaur, Rajasthan.
  18. P P Chaudhary - He Lok sabha MP from Pali, Rajasthan and belongs the OBC Seervi caste. He is a recipient of the Sansad Ratna award twice in his stint at the Lok sabha. He also heads Seervi Mahasabha.
  19. Dr Subhash Bhamre – he is an oncologist and a practicing doctor. He is BJP Lok Sabha MP from Dhule, Maharashtra.


Lists & Indexes –

Logistic Performance Index 2016 released by World Bank, India ranked 35


  • World Bank on 1 July 2016 released the Logistics Performance Index 2016 titled ‘Connecting to compete: 2016: Trade Logistics in the Global Economy.’ The 2016 Logistics Performance Index (LPI) allows for comparisons across 160 countries.
  • The 2016 LPI is an interactive benchmarking tool created to help countries identify the challenges and opportunities they face in their performance on trade logistics and what they can do to improve their performance.

Findings of the World Bank’s biennial report
  • Germany tops the 2016 rankings and is followed by Luxembourg, Sweden, Netherlands, and Singapore. Hong Kong SAR, China was ranked at 9th position while United States was placed at 10th Position in the list of rankings. Mainland China was placed at 27th position.
  • Syrian Arab Republic was ranked at 160th position in the list.

In context of India
  • India’s ranking jumped from 54 in 2014 to 35 in 2016.
  • India is ahead of comparatively advanced economies like Portugal and New Zealand.
  • In 2016, India’s international supply chain efficiency was at 75 percent of top-ranked Germany. This is an improvement over the 66% efficiency when compared to the leader (again Germany) in 2014.


Appointments –

Madhav Dhekane took over as Director of ISRO Inertial Systems Unit

  • Noted scientist Madhav Dhekane on 1 July 2016 assumed the office of Director at ISRO Inertial Systems Unit (IISU), Department of Space, at Vattiyoorkavu in Thiruvananthapuram, Kerala.
  • Dhekane is the seventh director of IISU.


Sports –

Javeline thrower Annu Rani sets national record at National Inter-state Athletics Championships


  • Javeline thrower Annu Rani on 2 July 2016 bettered her national record with a 59.87m throw at the 56th National Inter-State Senior Athletics Championships in Hyderabad.
  • Rani improved her previous meet mark with her first round 59.06m at G.M.C. Balayogi Stadium. However, her 59.87m throw came in the fourth round.
  • Suman Devi could log only 55.88m to bag the second place. Haryana’s Sharmila Kumari finished third with 53.80m throw.


Para swimmer Niranjan Mukundan wins eight medals in IWAS World Games


  • Para swimmer Niranjan Mukundan won eight medals, including three gold medals, at the International Wheelchair and Amputee Sports (IWAS) U-23 World Games.
  • The games concluded on 3 July 2016 in Prague, Czech Republic.
  • Mukundan bagged gold medals in 200m freestyle, 50m butterfly and 50m breaststroke, silver in 100m fly and 50m freestyle, and bronze in 100m freestyle, 100m breaststroke and 100m backstroke events.


Obituaries –

Noel Neill, first actor to play Lois Lane in Superman, dies


  • American actor Noel Neill, the first actor to play the role Lois Lane on the Adventures of Superman television series died on 3 July 2016. She was 95.
  • Lois Lane is a fictional character who is an award-winning journalist and the primary love interest of Superman.












Regards



Team ExamPundit

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