Wednesday, August 24, 2016

Current Affairs Update – 24th August, 2016

Hello and welcome to exampundit . Here are the important Current Affairs for 24th 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 – 24th August, 2016
  1. The Jawaharlal Nehru Port Trust (JNPT) has signed an agreement with State Bank of India and Development Bank of Singapore for External Commercial Borrowing (ECB) to the tune of $400 Million.
  2. Telangana and Maharashtra government on 23 August 2016 signed a Memorandum of Understanding (MoU) to start work on three barrages- Tummidi Hatti on Pranhita River, Medigadda on Godavari River and Chanaka-Korata on Painganga River.
  3. Reliance Infrastructure Ltd (RInfra) on 22 August 2016 announced that it completed 100 percent sale of Reliance Cement Company Private Limited (RCCPL) to Birla Corporation Limited.
  4. The Union Ministry of Personnel, Public Grievances and Pensions on 22 August 2016 constituted a Task Force to comprehensively study the cadre structure of organised Group A Central Services. It will be headed by T Jacob who is an Additional Secretary in the Department of Personnel Training (DoPT) under the ministry.
  5. Andhra Pradesh on 20 August 2016 launched the DNA Index System (DIS) for DNA (Deoxyribonucleac acid) profiling of criminals. The system uses the latest DNA technology tool, known as RapidHIT DNA System, developed by IntegenX of United States.
  6. The Government of Telangana on 22 August 2016 issued a draft notification for the creation of 17 new districts.
  7. India’s ace tennis player Sania Mirza was on 22 August 2016 topped the ATP Women’s Doubles Tennis rankings. She topped the list after teaming up with new partner, Barbora Strycova of Czech Republic.
  8. The International Day for the Remembrance of the Slave Trade and Its Abolition was observed on 23 August 2016 across the world.





Finance/Industry/Banking –

JNPT inks pact with SBI, DBS for $400 million loan


  • The Jawaharlal Nehru Port Trust (JNPT) has signed an agreement with State Bank of India and Development Bank of Singapore for External Commercial Borrowing (ECB) to the tune of $400 Million.
  • Funds will be used to double its existing capacity to 9.85 Million TEUs annually.
  • JNPT has dollar denominated foreign currency earnings which has been leveraged to raise low cost foreign currency borrowing.
  • The ECB of $400 Million ($300 Million from the SBI and $100 Million from DBS) will be primarily utilised by JNPT for expanding the network of roads that connect to its port projects.
  • The existing road network for evacuation of traffic is currently operated at a capacity utilisation of 100%, and the expansion is needed for quicker and more efficient evacuation of traffic.

Maharashtra, Telangana sign pact to resolve long standing river water dispute


  • Telangana and Maharashtra government on 23 August 2016 signed a Memorandum of Understanding (MoU) to start work on three barrages- Tummidi Hatti on Pranhita River, Medigadda on Godavari River and Chanaka-Korata on Painganga River.
  • The MoU was inked after a meeting between Maharashtra Chief Minister Devendra Fadnavis and Telangana Chief Minister K. Chandrashekhar Rao.
Highlights of the MoU

  • The approval for these 3 projects was given on the recommendations of the Inter-State Board of Maharashtra and Telangana that had been set up for the purpose.
  • All expenses for these projects will be borne by Telangana government and not a single village of Maharashtra will be submerged.
  • More than thirty thousand hectares of land in Chandrapur, Gadchiroli and Yavatmal will come under irrigation because of these barrages.

Reliance Cement becomes subsidiary of Birla Corporation Limited


  • Reliance Infrastructure Ltd (RInfra) on 22 August 2016 announced that it completed 100 percent sale of Reliance Cement Company Private Limited (RCCPL) to Birla Corporation Limited.
  • While RInfra is an entity of the Anil Ambani-headed Reliance Anil Dhirubhai Ambani Group (Reliance ADAG), Birla Corp is the flagship Company of the M P Birla Group.
  • The transaction was in tune with the Share Purchase Agreement (SPA) that was signed between the two entities in February 2016.
  • It was valued at 4800 crore rupees or 140 US dollars per tonne and the proceeds will utilised by RInfra towards debt reduction.
  • Under the SPA, the Birla Corp acquired an integrated cement capacity of 5.08 Metric tonnes per annum (Mtpa) at Maihar, Madhya Pradesh and Kundanganj, Uttar Pradesh.
  • Besides, it also involves acquisition of grinding unit of 0.5 Mtpa capacity located at Butibori, Maharashtra.

Union Government formed Task Force to study structure of organised Group A Central Services


  • The Union Ministry of Personnel, Public Grievances and Pensions on 22 August 2016 constituted a Task Force to comprehensively study the cadre structure of organised Group A Central Services.
  • It will be headed by T Jacob who is an Additional Secretary in the Department of Personnel Training (DoPT) under the ministry.
  • The task force was constituted in accordance with the direction of the Appointments Committee of the Cabinet headed by the Prime Minister Narendra Modi.
The terms of reference of the Task Force are –

  • To comprehensively study the cadre structure of all organised Group A services in the Union Government.
  • To recommend an ideal structure especially at Apex, HAG plus, HAG and SAG level.
  • To suggest the percentage of various reserves in organised Group A services.
  • To suggest the ideal recruitment in organised Group A services.
  • To suggest the way forward to mitigate the stagnation level.

India –

Andhra Pradesh launches DNA Index System to tackle crime


  • Andhra Pradesh on 20 August 2016 launched the DNA Index System (DIS) for DNA (Deoxyribonucleac acid) profiling of criminals. The system uses the latest DNA technology tool, known as RapidHIT DNA System, developed by IntegenX of United States.
  • With this, Andhra Pradesh became the first state in the country to do so.
Highlights of the DNA Index System

  • It allows generation of DNA profiles from live samples like buccal swabs, saliva and blood stains etc.
  • It creates DNA profiles within 90 to 120 minutes compared to currently available technologies which take at least two days or more.
  • It could also help the suspects prove their innocence.
  • With DNA in the database, repeat offenders will be easily and quickly caught which will further help to bring down crime rate.

Sponsored





Telangana Government proposed to create 17 new districts


  • The Government of Telangana on 22 August 2016 issued a draft notification for the creation of 17 new districts.
  • Creation of new districts was proposed by the State Government in order to minimise the hassle for people in commuting to the district headquarters and to enhance the efficiency of the administration.
  • After the proposed rearrangement of the existing districts, the total number of districts in the State will increase to 27 from the existing 10 districts.
  • Further, the draft notification also proposed for increase in the number of mandals by 31 and revenue division by 14.

Sports –

Sania Mirza becomes World No 1 in ATP Women’s Doubles Tennis rankings


  • India’s ace tennis player Sania Mirza was on 22 August 2016 topped the ATP Women’s Doubles Tennis rankings.
  • She topped the list after teaming up with new partner, Barbora Strycova of Czech Republic.
  • The new ranking also follows the victory of the pair in the Cincinnati final. To win the title, the Sania-Barbora duo defeated Martina Hingis and Coco Vandeweghe 7-5, 6-4.
  • Incidentally, Sania recently ended her partnership with Martina Hingis after three Grand Slam victories and 11 WTA doubles titles together.
  • In the recent rankings, Hingis was figured at the second sport with 10945 points behind Sania’s 11260 points.

Days –

International Day for the Remembrance of the Slave Trade and Its Abolition observed globally


  • The International Day for the Remembrance of the Slave Trade and Its Abolition was on 23 August 2016 observed across the world.
  • The aim of the day is to pay tribute to the people who, on 22 to 23 August 1791, revolted against the system of slavery and started the Haitian Revolution. Men and women, torn from Africa and sold into slavery, revolted against the slave system to obtain freedom and independence for Haiti, which was gained in 1804. This uprising was a turning point in human history.
  • The Revolution initiated a process of change regarding slavery throughout the Americas.

Obituaries –

Singapore’s longest serving president Sellapan Ramanathan died


  • Singapore’s former president Sellapan Ramanathan died on 22 August 2016. He was 92.
  • S R Nathan was of Indian-origin and the sixth and longest-serving President of Singapore. He was closely associated with the country’s founding leader Lee Kuan Yew.



Regards



Team ExamPundit

Share this

Get free quizzes and news related to SBI PO, IBPS PO and all other exams.

0 Comment to "Current Affairs Update – 24th August, 2016"

Post a Comment