Current Affairs Update – 23rd August, 2016

Hello and welcome to exampundit . Here are the important Current Affairs for 23rd August, 2016. These are important for the upcoming RBI Grade B Phase I, Bank of Baroda and Bank of Maharashtra PO and IBPS PO VI Mains Exams.



Current Affairs at a Glance – 23rd August, 2016
  1. Axis Bank has come up with its augmented reality feature “Near Me” within its mobile app which lists all the dining destinations, property lists, shopping centres, bank ATMs, branches and many other things not only as a location on GPS but also in real life pictures along with distance and even directions.
  2. The Maharashtra government today signed an agreement with Civil Aviation Ministry and the Airports Authority of India for developing 10 airports in the state under the centre's regional connectivity scheme (RCS).
  3. India and Germany on 22 August 2016 signed an agreement to foster conditions that will help create and improve workplace-based vocational training in India's industrial clusters.
  4. Reliance Communications (RCom) has launched content delivery network 'Fast Edge' for faster delivery of web content to users.
  5. Tech giant Microsoft has acquired artificial intelligence (AI)-based scheduling service Genee that simplifies the scheduling and rescheduling of large group meetings for companies.
  6. India has figured among the top 10 wealthiest countries in the world with a total individual wealth of $5,600 billion while the United States topped the chart. According to a report by New World Wealth, India was ranked seventh, ahead of Canada ($4,700 billion), Australia ($4,500 billion) and Italy ($4,400 billion), which came in at eighth, ninth and 10th slots, respectively.
  7. V P Singh Badnore on 22 August 2016 took oath as the new Governor of Punjab. He was also sworn in as the Administrator of Chandigarh Administration.
  8. Banwarilal Purohit on 22 August 2016 was sworn in as the Governor of Assam.
  9. Senior BJP leader Jagdish Mukhi on 22 August 2016 sworn in as the 12th Lieutenant Governor of the Union Territory of Andaman and Nicobar Islands.
  10. Luxury carmaker Volvo Auto has announced the appointment of Nalin Jain as the new Chief Financial Officer and Jyoti Malhotra as the Director, Sales, Marketing and PR for India operations.
  11. Four sports person from different discipline of sports were chosen for the Rajiv Gandhi Khel Ratna award and they are P.V. Sindhu for Badminton, Dipa Karmakar for Gymnastics, Jitu Rai for Shooting and Sakshi Malik for Wrestling.
  12. A book titled The Ocean of Churn: How the Indian Ocean Shaped Human History authored by Sanjeev Sanyal was released on 10 August 2016.



Finance/Banking/Industry –

Axis Bank introduces augmented reality in its mobile application 'Near me'


  • On the lines of the gaming sensation Pokemon Go, Axis Bank has come up with its augmented reality feature within its mobile app which lists all the dining destinations, property lists, shopping centres, bank ATMs, branches and many other things not only as a location on GPS but also in real life pictures along with distance and even directions.
  • Sethi said that a customer can open the banking app and click on the 'Near Me' option, it will switch on the GPS location and the camera of the phone. This will enable the customer to scan the area around him and the app will list out all the possible places where the customer can get attractive deals.
  • The private sector lender's initiative gathers significance at a time when banks are taking steps to become a part of the customer's regular consumption needs. While tying up with e-commerce and retail partners is one part of the game, the other is making them easily accessible to its customers. The 'Near Me' feature is a huge step in that direction.

Maharashtra signs MoU with centre, AAI to develop 10 airports


  • The Maharashtra government today signed an agreement with Civil Aviation Ministry and the Airports Authority of India for developing 10 airports in the state under the centre's regional connectivity scheme (RCS).
  • RCS, which is part of ambitious National Civil Aviation Policy 2016, is aimed at developing regional connectivity through fiscal support and infrastructure development from the centre.
  • The 10 airports - Kolhapur, Shirdi, Amravati, Gondia, Nashik, Jalgaon, Nanded, Solapur, Ratnagiri and Sindhudurg will be developed, wherein state will contribute 20 percent cost of Viability Gap Funding, whereas the centre will bear the remaining 80 percent cost.
  • As per the MoU, the state government will reduce the Local Body Tax (LBT) on air fuel from existing 10 percent to 1 percent for a period of 10 years. The MoU states that government will provide essential land free of cost.

India, Germany sign agreement on vocational training


  • India and Germany on 22 August 2016 signed an agreement to foster conditions that will help create and improve workplace-based vocational training in India's industrial clusters.
  • The agreement was signed between the Ministry of Skill Development and Entrepreneurship (MSDE) and German International Cooperation (GIZ).
Highlights of the Agreement

  • Under the pact, German technical assistance will be used to enhance industry institute partnerships between Indian and German organizations.
  • It will help build capacity of local training institutions and foster industry linkages which will help adapt elements of the German dual system into the Indian context.
  • It will initiate a new project focused on adapting elements of the German dual system in select industrial clusters in India.
  • The project will run for three years starting August 2016 with a budget of 22.6 crore rupees made available by the German Government.
  • It will be implemented in three selected clusters, which include the Automobile cluster in Maharashtra and Electronics cluster in Bangalore.

Reliance Communications launches content delivery network "Fast Edge"


  • Reliance Communications (RCom)has launched content delivery network 'Fast Edge' for faster delivery of web content to users.
  • Fast Edge puts content closer to India's 350 million plus eyeballs than any other content delivery platform with mostcost-efficient access available in the market, company officials told reporters here.
  • It is designed to take 'Digital India' from promise to fruition, they added.

Microsoft acquires Genee to integrate AI in Office 365


  • Tech giant Microsoft has acquired artificial intelligence (AI)-based scheduling service Genee that simplifies the scheduling and rescheduling of large group meetings for companies.
  • Microsoft will integrate the AI technology into Office 365 before shutting down Genee.
  • Co-founders Ben Cheung and Charles Lee, who plan to join Microsoft, started Genee in 2014 to simplify the time-consuming task of scheduling (and rescheduling) meetings.
  • Genee uses natural language processing and optimised decision-making algorithms so that interacting with a virtual assistant is just like interacting with a human one.


Lists –

India 7th on list of countries with highest individual wealth


  • India has figured among the top 10 wealthiest countries in the world with a total individual wealth of $5,600 billion while the United States topped the chart.
  • According to a report by New World Wealth, India was ranked seventh, ahead of Canada ($4,700 billion), Australia ($4,500 billion) and Italy ($4,400 billion), which came in at eighth, ninth and 10th slots, respectively.
  • The US is the wealthiest in the world in terms of total individual wealth held ($48,900 billion), while China stood second and Japan third, with total individual wealth of $17,400 billion and $15,100 billion, respectively.
  • Others in the top 10 club include the United Kingdom (fourth) with a total individual wealth of $9,200 billion, followed by Germany (fifth, $9,100 billion) and France (sixth, $6,600 billion).

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Appointments –

V P Singh Badnore sworn in as Governor of Punjab


  • V P Singh Badnore on 22 August 2016 took oath as the new Governor of Punjab. He was also sworn in as the Administrator of Chandigarh Administration.
  • Punjab and Haryana High Court Chief Justice S J Vazifdar administered the oath of office and secrecy to Badnore at Punjab Raj Bhawan in Chandigarh.
  • Badnore replaced Kaptan Singh Solanki, who is the Governor of Haryana. Solanki had been holding additional charge of Punjab Governor and Administrator of Chandigarh Administration since January 2015.

Banwarilal Purohit sworn in as Governor of Assam


  • Banwarilal Purohit on 22 August 2016 was sworn in as the Governor of Assam.
  • Chief Justice of Gauhati High Court Ajit Singh administered the oath of office and secrecy to Purohit at the Raj Bhavan in Gauhati.
  • Purohit succeeded Padmanabha Balakrishna Acharya, Governor of Nagaland who was Governor in-charge of Assam.

Jagdish Mukhi sworn in as Lieutenant Governor of Andaman and Nicobar Islands


  • Senior BJP leader Jagdish Mukhi was on 22 August 2016 sworn in as the 12th Lieutenant Governor of the Union Territory of Andaman and Nicobar Islands.
  • He was administered the oath of office and oath of secrecy by Justice Girish Chandra Gupta, acting chief justice of Calcutta High Court.
  • Mukhi Succeeded Lt General A K Singh (Retd) who was appointed in July 2013. Earlier, he had been a minister and Leader of Opposition in the Delhi Assembly in the past. 

Volvo Auto India hires Nalin Jain as CFO


  • Luxury carmaker Volvo Auto has announced the appointment of Nalin Jain as the new Chief Financial Officer and Jyoti Malhotra as the Director, Sales, Marketing and PR for India operations.
  • The Swedish carmaker has also roped in Rajeev Chauhan as the Network Director.
  • The appointments are said to further intensify the highly experienced management team at Volvo Auto India.

Sports –

National Sports Awards 2016 announced


  • The Union Government on 22 August 2016 announced the National Sports Awards. Olympic Medalists PV Sindhu and Sakshi Malik will get Rajiv Gandhi Khel Ratna Awards.
  • Shooter Jitu Rai and Gymnast Dipa Karmakar have also been selected for the top national sports award.
  • National Sports Awards are given every year to recognize and reward excellence in sports.
Rajiv Gandhi Khel Ratna

  • Four sports person from different discipline of sports were chosen for the award and they are P.V. Sindhu for Badminton, Dipa Karmakar for Gymnastics, Jitu Rai for Shooting and Sakshi Malik for Wrestling.
Dronacharya Awards

  • Six sports coaches will be honoured with Dronacharya Awards and they are Nagapuri Ramesh for Athletics, Sagar Mal Dhayal for Boxing, Raj Kumar Sharma for Cricket, Bishweshwar Nandi for Gymnastics, S Pradeep Kumar for Swimming (Lifetime) and Mahabir Singh for Wrestling (Lifetime).
  • Dipa Karmakar's coach Bishweshwar Nandi will receive the award for Gymnastics.

India wins four-match Test Series against West Indies, 2-0


  • India on 22 August 2016 won the four-match test series against West India 2-0. Fifth day's play in the fourth test in Port of Spain was called off due to rain.
  • West Indies was 62-2 in its first innings with only 22 over bowled in the entire match.
  • The draw in the last and final test helped Pakistan to be number one position in ICC Test rankings displacing India. India needed to win the fourth test to retain their top spot. Pakistan takes the top spot for the first time after its 2-2 test series draw with England.

Books & Authors –

The Ocean of Churn: How the Indian Ocean Shaped Human History authored by Sanjeev Sanyal


  • A book titled The Ocean of Churn: How the Indian Ocean Shaped Human History authored by Sanjeev Sanyal was released on 10 August 2016.
  • The book narrated the history of The Indian Ocean, which stretches across East Africa, the Middle East and the Indian subcontinent to South East Asia and Australia.
  • In the book, Sanyal narrates a fascinating tale about the earliest human migrations out of Africa and the great cities of Angkor and Vijayanagar, medieval Arab empires and Chinese treasure fleets, the rivalries of European colonial powers and a new dawn.
  • The book offers exciting revelation while exploring remote archaeological sites, ancient inscriptions, maritime trading networks and half-forgotten oral histories.


Obituaries –

Legendary journalist George E. Curry passes away


  • Legendary journalist George E. Curry, considered the ‘dean of black press columnists’, passed away on 20 August 2016 in Maryland, USA.
  • Curry mainly reported on racism, poverty and national politics for newspapers. He most recently wrote a syndicated column that ran in more than 200 black-owned newspapers.







Regards



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