Thursday, August 11, 2016

Current Affairs Update – 11th August, 2016

Hello and welcome to exampundit . Here are the important Current Affairs for 10th August, 2016. These are important for the upcoming RBI Grade B Phase I and BMSB & Bank of Maharashtra PGDBF PO Exams 2016.


Current Affairs at a Glance– 11th August, 2016
  1. Axis Bank and payments company Suvidhaa Infoserv, today launched 'Nano Credit' to offer pre-approved, instant and unsecured loans for the urban low income segment. The maximum loan amount is Rs 15,000 and is available to existing customers of Suvidhaa at 22,000 locations across the country.
  2. National Institution for Transforming India (NITI) Aayog on 10 August 2016 signed agreement with United States (US) Energy Information Administration (EIA) to set up web portal on energy data.
  3. Gift card technology and prepaid solutions company Qwikcilver on Thursday, announced the appointment of former Reserve Bank executive director, G Padmanabhan as a strategic advisor.
  4. Microsoft today announced the appointment of Sriram Rajamani as new managing director of its India lab.
  5. Prime Minister Narendra Modi, President of Russia Vladimir Putin and Tamil Nadu Chief Minister J Jayalalithaa on 10 August 2016 dedicated Unit 1 of Kudankulam Nuclear Power Plant to the nation.
  6. Wipro Chairman Azim Premji and HCL co-founder Shiv Nadar are the only two billionaires from India in Forbes' list of the world's 100 richest people in technology, ranking in the top 20 ahead of Google boss Eric Schmidt and Uber CEO Travis Kalanick. The '100 Richest Tech Billionaires In The World 2016' list has been topped by Microsoft founder Bill Gates with an estimated fortune of  $78 billion. Premji ranks 13th on the list with a net worth of  $16 billion and Nadar comes in on the 17th spot with $11.6 billion of net worth. Two Indian-American technology czars Symphony Technology Group CEO Romesh Wadhwani and founders of IT consulting and outsourcing company Syntel Bharat Desai and his wife Neerja Sethi are also on the list.
  7. China on 10 August 2016 launched Gaofen-3 Satellite, China's first Synthetic Aperture Radar (SAR)  imaging satellite. The satellite was launched from the Taiyuan Satellite Launch Centre in northern Shanxi province on Wednesday.




Finance/Banking –

Axis Bank to offer small ticket unsecured loans jointly with Suvidhaa


  • Axis Bank and payments company Suvidhaa Infoserv, today launched 'Nano Credit' to offer pre-approved, instant and unsecured loans for the urban low income segment. The maximum loan amount is Rs 15,000 and is available to existing customers of Suvidhaa at 22,000 locations across the country.
  • A customer who utilises Suvidhaa's remittance or bill payment facilities can avail himself of loans up to Rs 15,000 with no paperwork within a few hours. This is possible because the customer's details such as address proof, etc are already captured in Suvidhaa's database and e-KYC is done using Aadhaar number.
  • The loan is disbursed in the form of a pre-paid card, which can be used at ATMs or point-of-sales. The interest rate is 14 per cent onwards and repayment term is 18 months. Axis Bank is also offering overdraft facility where the repayment is one year.

NITI Aayog ties up with US EIA to set up portal on energy data


  • National Institution for Transforming India (NITI) Aayog on 10 August 2016 signed agreement with United States (US) Energy Information Administration (EIA) to set up web portal on energy data.
  • The web portal will host all the data related to energy sector including oil & gas, coal, solar & thermal energy etc. NITI Aayog, a think tank of Union Government, is working to develop India's energy data agency which will take 3-4 years to develop.
  • Niti Aayog also signed Statement Of Principle (SOP) with US Agency for International Development (USAID) and Department of Energy & Climate Change (DECC) of United Kingdom (UK) for collaboration in the area of energy research.
  • Through this agreement, the Aayog aims to host all the data related to energy sector in the country including oil and gas, coal, solar and thermal energy, much on the lines of the Energy Information Administration of US.

Appointments –

Qwikcilver ropes in ex RBI executive director G Padmanabhan as advisor


  • Gift card technology and prepaid solutions company Qwikcilver on Thursday, announced the appointment of former Reserve Bank executive director, G Padmanabhan as a strategic advisor.
  • Padmanabhan has 36 years of experience in banking and payments sector which includes his term as executive director at RBI, managing payment and settlement systems, foreign exchange department and information at RBI, a statement by Qwikcilver said.
  • As part of the advisory board, Padmanabhan will advise Qwikcilver on strategic direction, product guidance from a regulatory view point, and towards strengthening the corporate governance, regulatory compliance and risk management processes, Qwikcilver said.

Sriram Rajamani appointed MD of Microsoft's India lab


  • Microsoft today announced the appointment of Sriram Rajamani as new managing director of its India lab.
  • Based in BENGALURU, he will spearhead Microsoft India's continued focus on world-class research, innovation and collaboration with the scientific community, the company said in a release.
  • He replaces Chandu Thekkath, who was managing director of the lab for two years.

Sponsored




India –

Unit 1 of Kudankulam Nuclear Power Plant dedicated to nation


  • Prime Minister Narendra Modi, President of Russia Vladimir Putin and Tamil Nadu Chief Minister J Jayalalithaa on 10 August 2016 dedicated Unit 1 of Kudankulam Nuclear Power Plant to the nation.
  • Besides, PM Modi announced that five more reactors of 1000 megawatt each will come up in the same location.
  • The reactors are being built jointly by Nuclear Power Corporation of India and Atomstroyexport company, a subsidiary of Rosatom (the regulatory body of the Russian nuclear complex).
  • The power plant is updated with most modern Russian technologies.
  • The first reactor of the plant attained criticality on 13 July 2013 at 11:05 P.M.
  • KKNPP was first synchronised to grid at 2:45 A.M. on 22 October 2013. Power generation from first nuclear reactor started on the same day.

List –

Azim Premji and Shiv Nadar in Forbes list of 100 richest tech tycoons


  • Wipro Chairman Azim Premji and HCL co-founder Shiv Nadar are the only two billionaires from India in Forbes' list of the world's 100 richest people in technology, ranking in the top 20 ahead of Google boss Eric Schmidt and Uber CEO Travis Kalanick.
  • The '100 Richest Tech Billionaires In The World 2016' list has been topped by Microsoft founder Bill Gates with an estimated fortune of  $78 billion.
  • Premji ranks 13th on the list with a net worth of  $16 billion and Nadar comes in on the 17th spot with $11.6 billion of net worth. Two Indian-American technology czars Symphony Technology Group CEO Romesh Wadhwani and founders of IT consulting and outsourcing company Syntel Bharat Desai and his wife Neerja Sethi are also on the list.
  • Forbes said Premji, who heads India's third-largest outsourcer, Wipro has been on a buying spree in the past year to boost growth. Premji's son Rishad, who heads strategy and sits on the board, also oversees Wipro's $100 million venture capital fund.
  • Nadar co-founded HCL, which is reportedly mulling a US listing, Forbes said adding that Nadar also owns HCL TalentCare, a skills-development firm that provides training to new graduates. His latest venture is a $500 million fund to invest in start ups and US healthcare tech firms.

World –

China launches Gaofen-3 Satellite to get accurate images of earth


  • China on 10 August 2016 launched Gaofen-3 Satellite, China's first Synthetic Aperture Radar (SAR)  imaging satellite. The satellite was launched from the Taiyuan Satellite Launch Centre in northern Shanxi province on Wednesday.
  • Gaofen-3 is  a high-resolution satellite for the protection of its maritime rights as the South China Sea dispute continues to simmer.
  • It is also China's first low orbit remote sensing satellite that has a lifespan of eight years.
  • It will be used for disaster warning, weather forecasting, water resource assessments, and the protection of maritime rights.

Obituaries –

Legendary Pakistani batsman Hanif Muhammad passes away


  • Pakistan’s legendary former captain and batsman Hanif Muhammad, who held the record for the longest innings in Test cricket, passed away today after a prolonged battle with lung cancer.
  • He had earlier in the day, been declared clinically dead for around six minutes before he was revived back to life.
  • Hanif’s son Shoaib Muhammad had first announced from the hospital on various television channels that his father had passed away after losing a protracted battle with various ailments. But few minutes later it was clarified that Muhammad was still alive.




Regards



Team ExamPundit

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