Current Affairs Today – April 28 2016

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INDIAN AFFAIRS

Union Government allows states to put stock holding limits on sugar

Union cabinet chaired by the Prime Minister decided to allow States to impose and enforce stock limits on sugar to verify its market price rise.

• The decision directed that in the face ofadequate availability of sugar stocks with the Sugar Mills, the wholesale and retail prices have shown a spurt.
• The move will empower State and Central players to impose stock limits and regulate supply, distribution, storage and trade of sugar to bring down sugar prices at reasonable level by curbing unscrupulous trading. 

Sugar Producing Countries:

• Brazil is the largest producer of the world. It accounts for 20 per cent of the world’s production. India stands second in the production list.

Odisha CM inaugurate 100 rural drinking water projects

Odisha Chief Minister Naveen Patnaik inaugrated 100 piped water supply projects on Utkala Gaurav Madhusudan Das birthday for rural areas and pledged to make piped water provision in all gram panchayats by 2017.

• The project is made at an estimated cost of Rs 72 crore, will help as many as 1, 72,000 people residing in rural areas.
• Earlier the government had inaugurated 100 urban drinking water supply projects for 41 urban local bodies of 20 districts in Odisha.

Odisha:

• Chilka lake of Odisha is the biggest for Brackish Water (Saline) lagoon, it is set to be India’s biggest and world second biggest coastal lagoon.

Manipur, Nagaland and Arunachal Pradesh Govt implement NFSA across state

Northeastern states Manipur, Nagaland and Arunachal Pradesh to implement the National Food Security Act, this scheme empowers 87 per cent of the priority households in the state population.

• National Food Security Act has been passed in Parliament in 2013.
• Among other Northeastern states, Tripura had implemented the Food Security Act in August 2015, Meghalaya in September 2015, Assam in December 2015, and Mizoram in March 2016.
• Under this scheme areas which served by the banking channels, options were kept for Direct Cash Transfer model.

Maha govt raises jail term up to 5 yrs for chain snatchers

Maharashtra government has pledged to increase the punishment for chain snatching up to 5 years of rigorous imprisonment along with a fine of Rs 25,000.

• The state Cabinet has passed amendments to Indian Penal Code sections 379, 397-A (1)(2) and section 379-B along with the CrPC Act-1973.
• The provisions puts increasing the punishment up to five years rigorous imprisonment and Rs 25,000 fine, in case of grievous injury to the victim.
• In some cases of other chain snatching incidents in which victim is not harmed the punishment ranges from 2-5 years.
• Crime statistical report of last year says a total of 2,305 cases of chain snatching linking stolen gold chains worth Rs 14.2 crore in Mumbai during 2014-15.

Maharashtra:

Mumbai is a financial capital of India, India’s first train in India ran between Mumbai and Thane in 1853.

INTERNATIONAL AFFAIRS

India 3rd in worldwide dope violation in new WADA report

• India has became No. 3rd in Anti-Doping Rule Violation in 2014 – WADA reported
• Russia ranked first followed by Italy

Anti Doping Rule Violation:

• The decision will be taken against an athlete following full disciplinary proceedings
• Award will be either reprimand or a period of ineligibility

96 Anti Doping Rule violation cases registered by India– Out of which, 2 each in Athletics and wrestling & 56 men and 23 women whose failed in competition tests  and 13 were out-of-competition

BANKING & FINANCE

New Zealand’s dazzling NZD $5 bill named best Banknote of the year

Mountaineer and Explorer Sir Edmund Hillary is featured on face of the $5 bill currency note which is best Bank Note of the year

Designed by: Canada Banknote Company

About Edmund Hillary:

• Born in 1919, New Zealand
• He was a mountaineer, explorer and philanthropist

Banks have to report foreign contribution to NGO’s within 48 hours

All the Banks mandated to report to the central government within two days any information on NGOs getting foreign funds.

• The amended Foreign Contribution (Regulation) Amendment Rules 2015 directed these rules in Gazette of India on December 2015.
• As per the rules banks have to report to the central government within 48 hours any transaction in respect of receipt and utilization of any foreign contribution by any person.
• This is applicable irrespective of whether or not such person is registered or granted permission under the FCRA.

MoU between Insurance Regulatory and Development Authority of India and the Insurance Authority,UAE

Union government has given its ex-post facto approval for the Memorandum of Understanding (MoU) that links Hyderabad based Insurance Regulatory and Development Authority of India (IRDAI) and the Insurance Authority of United Arab Emirates.

• The agreement pave the way for enhanced cooperation between the two bodies in the field of insurance supervision by providing a framework for co-operation such as channels of communication.
• The move will further improved mutual understanding through the exchange of regulatory and relevant information including confidential information to enforce or ensure compliance with their respective laws and regulations.

DBS Bank launches mobile-only bank

Singapore based DBS Development Bank launched a mobile-only bank in India. The dedicated digibank uses technologies like biometrics and artificial intelligence for paperless, signature-less and branchless bank.

Features of Digibank:

• The virtual bank will influence biometrics-integrated ID and Aadhaar card to ensure that that there is no paperwork. It will provide customer service via a 24×7 artificial intelligence-driven assistant networks.
• It will have an intuitive budget optimiser that will help customers do their budgeting, track expenses and analyse purchasing trends.
• The digibank is smart such that it can understand customer behavior and preferences, synthesise data, and provide recommendations.
• It also has embedded soft token security, avoiding the need to wait for SMS to arrive.
• Account should not need to maintain any minimum balance requirements earn 7 per cent interest for accounts opened on digibank and can avail themselves of free cash withdrawals.
• Account holders will be provided with a physical debit card which can be used in all Visa-enabled online and POS transactions

BUSINESS

Isuzu opens manufacturing plant in Andhra Pradesh

Japanese automobile maker Isuzu has opened its new factory at Sri City in Andhra Pradesh paving the way for a position in the Indian light commercial vehicle (LCV) and utility vehicle (UV) markets.

• The production plant was inaugurated by Andhra Pradesh Chief Minister N Chandrababu Naidu.
• The new production unithas come up on a 107-acre sprawled factory will generate jobs for around 2,000-3,000 people and the company has earmarked Rs.3,000 crore investment over next five years.
• The Production unit will initially have an annual capacity of 50,000 units can be scaled up to 120,000 units.

Auto Mission Plan:

Union Government aims to make automobiles manufacturing the main driver of Make in India initiative as it expects passenger vehicles market to triple to 9.4 million units by 2026 as aimed in the Auto Mission Plan.

Cabinet nod for BPCL’s Oman investment

The Union Cabinet Chaired by the Prime Minister Narendra Modi approved an increase in investment in Bharat Oman Refineries (A Bharat Petroleum Corporation owned company) to a maximum of Rs 3,000 crore.

• The investment in BORLallowed to be enhanced up to a maximum of Rs. 3,000 crore by way of subscription of convertible warrants/other instruments giving right to convert it into equity shares to be issued by BORL.
• The move will enhance the availability of petroleum products in the Northern and Central parts of the country.

Oman:

• Capital: Muscat
• Currency: Omanian Rial

Tata Power commissions 44 MW Lahori wind farm project

• Mumbai based integrated power companyTata Power has commissioned its 44 MW Lahori windfarm project in Shajapur of Madhya Pradesh.
• This project through its 100 % subsidiary of Tata Power Renewable Energy Limited.This new project adding Tata Power’s total installed capacity of 9,183 MWin addition the two million customers it serves through retail power distribution.
• The new 44 MW project is expected to generate about 84 million units (MUs) per year.

The company scale up a further 500 MW of wind capacity under development and construction in the states of Gujarat, Andhra Pradesh, Madhya Pradesh and Karnataka.

AWARDS & RECOGNITIONS

Indian Institute of Management Calcutta Acquires EQUIS Accreditation

Award: EFMD Quality Improvement System (EQUIS)
Accreditation by: EFMD

• With EQUIS accreditation, IIM Calcutta becomes the first Indian business school to achieve the ‘Triple Crown’ in accreditation
• Only 5 business schools in Asia and 73 business schools around the world are currently ‘Triple Accredited’

APPOINTMENTS & RESIGNS

United Nation Chief Ban Ki Moon appoints Indian to University Council United Nation

United Nations decided to include an Indian Academician Radha Kumar in University Council to formulate its principles & policies, approve biennial Budget and work programme.

Total people appointed: 12 members including an Indian Academician named Radha Kumar.

Features of the Council:

• Selected members of the council should serve with individual capacity and not as representatives of their country
• They should aim of achieving a geographic and gender balance in the fields of Academic, scientific, educational and cultural trends

South Sudan rebel chief made Vice President

South Sudan’s rebel Chief Riek Machar made as Vice president of the Country.

• On returning to the country he sworn in as Vice president and wind up the civil war after two years.
• He expressed that he brought people together so they can work unite and heal the wounds. President Salva Kiir handed over the order to Vice President.

About South Sudan

• Capital: Juba
• President: Salva Kiir

SCIENCE & TECHNOLOGY

Russia’s brand new cosmodrome launches first-ever rocket

Russia has launched its maiden rocket from a new cosmodrome after a technical malfunction let down the much anticipated event in a sign of continued crisis in the nation’s space industry.

• Unmanned rocket called Soyuz-2.1A rocket carrying three satellites, blasted off into a clear blue sky from the launchpad at Vostochny cosmodrome in the remote Amur Region of the country.
• All three satellites launched on the Soyuz rocket have been successfully deployed to their specified orbits.
• The existing roadmap aims the cosmodrome should have up to 10 launches every year in the next several years.

Russia:

• Russia is the biggest country in the world.
• It also has the world’s deepest freshwater Baikal Lake in Siberia.It is the largest freshwater lake by volume in the world

China launches sounding rocket

China has launched a sounding rocket also called Research Rocket which is designed to conduct research take measurements and scientific experiments at Hainan Province in China.

• Kunpeng-1B was launched from Danzhou by the National Space Science Center (NSSC).The rocket reached a maximum height of 316 kilometers (196 miles), with the total flight time coming to 10 minutes.
• These rockets are low-cost launch vehicles developed to carry scientific instruments that take measurements during the rocket’s sub-orbital flight.
• Earlier the country first launched a Kunpeng-1 rocket in April 2013.

China:

• Capital: Beijing
• Currency: Renminbi
• China is the world’s most populous country, with a population of over 1.33 billion

Seventh navigational satellite IRNSS 1G launched

ISRO developed PSLV-C33 is carrying India’s seventh navigation satellite IRNSS-1G which is blasted off from the Satish Dhawan Space Centre in Sriharikota.

• The satellite was successfully placed in sub-Geosynchronous Transfer Orbit. The satellite with a design life time of 12 years has 2 payloads for navigation and ranging.

Click here to Read more : ISRO to launch 21 satellites in one shot

ENVIRONMENT

Taiwan finds 4,800-year-old fossil of mother cradling baby

Taiwan Archaeologists have discovered a 4,800year old human fossil of a mother holding an infant child in her arms,Carbon dating was the method adopted to determine the ages of the fossils.

• The 48 sets of remains unearthed in graves in the Taichung area are the earliest trace of human activity found in central Taiwan.
• The most remarkable discovery among them was the skeleton of a young mother looking down at a child cradled in her arms.

Taiwan:

• Capital: Taipei
• Currency: New Taiwan Dollar

SPORTS

TVS Racing signs up first woman rider Shreya Sunder Iyer

TVS Racing group has signed with its first woman rider Shreya Sunder Iyer in the Indian National Rally championship this year.

• Shreya started a career in motor racing at 17 and became the first Indian woman rider to successfully complete a ride across the sand dunes in Dubaiand also cross the Kalasa River in Chikamagal.
• She has ridden extensively across India including the isolated Suru valley in the Himalayas and also completed a rigorous Southern India biking trip of 2,000 kilometers in just 6 days.

ICC suspends the Cricket Association of Nepal

The International Cricket Council (ICC) has suspended the Cricket Association of Nepal (CAN) due to government intervention in the cricket board due to that a vacuum has been made in the cricket leadership.

• The cricket administrating body suspended the membership of CAN for breach of Article 2.9 of the ICC’s Articles of Association.
• The ICC code of the Article 2.9 prohibits government interference and requires free and fair elections.
• The means puts the CAN not to be entitled to receive any ICC funding.

International Cricket Association:

• Headquarters:  United Arab Emirates
• President:  Zaheer Abbas
• CEO: Dave Richardson

Deepika Kumari equals world record in recurve event at archery World Cup

Indian archer Deepika Kumari equals the world record in the woman’s recurve event at the Archery World Cup in Shanghai.

• She gained a score of 686/720 that equaled the record-breaking score of 686/720 set by South Korean archer Ki Bo-Bae in 2015.
• Ranchi hailed Deepika has already booked berth for the upcoming Rio Olympics with her performances at the World Championships in Copenhagen last year.

OBITUARY

Cartoonist Toms Passes Away in Kerala

Eminent cartoonist Vadakkal Thoppil Thomas known as Toms has died at a private hospital in Kottayam due to age­related illnesses. He was 86.

• His impression createdeverlasting cartoon characters like Bobanum Moliyum (Boban and Molly), Apart fromBobanum thecartoonist created kids lawyer Pothen, the flirty Appy Hippy, the nincompoop panchayat president Ittunnan (chettan), his wife (chettathi), Unnikkuttan, Kunchukuruppu and so many creatures.
• The Bobanum Moliyum strip was first published in Malayala Manorama in 1957. Toms retired from the newspaper in 1987.

IMPORTANT DAYS

World Day for Safety and Health at Work

World Day for Safety and Health at Work is observed worldwide on April 28 every year to promote a safe and healthy work environment for employees around the globe.

• The day is the brainchild of the International Labour Organisation (ILO). It has been observed by the ILO since 2003.
• United Nations reports saysabout two million men and women lose their lives through accidents and diseases linked to their work.
• The year 2016 will have the theme of Workplace Stress: a collective challenge, to tackle the stress levels in present stress induced environment.

International Labour Organization:

• Inception: 1919
• HQ: Geneva, Switzerland.