Current Affairs Daily Updates: June 1st 2016

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1. Former Delhi Police Commissioner BS Bassi appointed UPSC member.
President Pranab Mukherjee has appointed former IPS officer Bhim Sain Bassi as a member of Union Public Service Commission (UPSC) as per provisions of Article 316 of Constitution.
He will hold the constitutional post till February 2021 i.e. maximum tenure of six years or till he attains the age of 65 years.


1. Pope Francis Awards Medals to Richard Gere, George Clooney, Salma Hayek:
Pope Francis awarded medals to American Hollywood actors Richard Gere and George Clooney and actress Salma Hayek at an event held at the Vatican.
This award is to promote the work of a foundation inspired by the pontiff, Scholas Occurrentes foundation.


1. BRICS New Development Bank to issue first yuan-denominated bonds
The New Development Bank of the BRICS countries is set to issue its first yuan-denominated bonds with plans to release more bonds in local currencies including in Indian Rupee.
The Shanghai-based bank founded by Brazil, Russia, India, China and South Africa (BRICS) and headed by eminent Indian banker K V Kamath plans to finance sustainable development projects in the emerging markets and developing countries.

2. Andhra Bank plans to raise Rs. 2,700 cr. Capital
Andhra Bank intends to raise Rs. 2,700 crore to meet the capital requirement in the current financial year.
An estimate of the capital required was arrived at following a review of the projections of Internal Capital Adequacy Assessment Process (ICAAP) requirements.
The bank had reported a consolidated net profit of Rs.557.99 crore in 2015-16, a 15 per cent drop compared to the Rs.655.78 crore posted in the previous fiscal.


1. The Unseen Indira Gandhi: Dr KP Mathur
The book “Unseen Indira Gandhi” authored by Dr KP Mathur. It was released in 2016.
Mr.Mathur was personal physician of former Primeminister Indira Gandhi for nearly 20 years till her assassination in 1984.


1. Actor Razak Khan passes away
Veteran Bollywood comedian Razak Khan has passed away after suffering a cardiac arrest in Mumbai at the age of 62.
Razak played comic roles in around a 100 movies.


1. India, World Bank sign agreement for efficient bus service
India signed a $9.2-million grant agreement with the World Bank for the ‘Efficient and Sustainable City Bus Service Project’ aimed at improving the efficiency of the transport and reduce greenhouse gas emissions.
An agreement for Global Environmental Facility (GEF) grant of $9.20 million with the World Bank for ‘Efficient and Sustainable City Bus Service Project’ was signed.

2. RIL sells stake in African oil retailer GAPCO
Reliance Industries has exited its African fuel retail business by selling its entire 76 per cent stake to Total SA of France for an undisclosed sum.
Total, which is already a leading retailer of petroleum products in Africa, will acquire Gulf Africa Petroleum Corporation's (GAPCO) assets in Kenya, Uganda and Tanzania.

3. DLF to sell 32 screens to PVR for Rs.433 cr
Realty major DLF has entered into an amended agreement to sell its 32 screens of DT cinemas to multiplex operator PVR at a revised consideration of Rs 433 crore.
DLF operates the multiplex arm DT cinemas and exhibition business under its subsidiary DLF Utilities.

4. Mahindra & Mahindra inks brand licence agreement with Pininfarina
Mahindra & Mahindra has entered into a brand licence agreement with Pininfarina for use of trademarks after closing the deal to acquire 76.06 per cent stake in the Turin-based company.
Last year Mahindra group had announced to acquire Pininfarina for an overall outgo of over 50 million Euros (nearly Rs 370 crore) after months of negotiations.


1. India gifts 2,000 bicycles to Nepal girl students to stem dropout rate
The Indian government has gifted 2,000 bicycles to poor Dalit girls studying in government schools in Banke, Siraha, Dhanusha and Sarlahi districts of Nepal to stem the dropout rate.
The gifting of bicycles to the poor Dalit girl students was aimed at enhancing the literacy rate among girls in Nepal and also to encourage girls from such families to enrol in schools.

2. Canada to enforce plain cigarette packaging in attempt to curb smoking
Canada, following the lead of Britain and Australia, will make plain packaging of cigarettes compulsory in a bid to cut the rate of smoking.
Canada already obliges firms to slap large graphic warning labels on cigarette packets.


1. Prime Minister releases National Disaster Management Plan
Prime Minister Shri Narendra Modi released the National Disaster Management Plan (NDMP). This is the first ever national plan prepared in the country.
It aims to make India disaster resilient and significantly reduce the loss of lives and assets. The plan is based on the four priority themes of the “Sendai Framework,”

2. Four month window to disclose black money opens
The four-month disclosure window giving an opportunity to domestic black money holders to come clean by paying tax and penalty of 45 per cent on such assets will open tomorrow.
People who have made money through corrupt means will not be allowed to take advantage of the disclosure window.

3. Government raises retirement age of doctors to 65
Prime Minister Narendra Modi approved the retirement age of 65 years for doctors of central services, in an aim to strengthen the healthcare sector in the country.
The move will enable the government to retain experienced doctors for a longer period, and to provide better services in its public health facilities, particularly to the poor, who are entirely dependent on public facilities.

4. Cabinet approves setting up of India Post Payments Bank
The Union Cabinet under the Chairmanship of Prime Minister Shri Narendra Modi approved for setting up the India Post Payments Bank (IPPB) as a Public Limited Company under the Department of Posts, with 100% Government of India (GOI) equity.
The total expenditure involved in this project is Rs 800 Crore. All citizens, especially 40% of the country's population that is outside the ambit of formal banking in the country will benefit from this project.

5. Cabinet approves MoU between India and other countries
For cooperation in Skill Development and Recognition of qualifications.
For strengthening cooperation in the field of Tourism.
To enhance cooperation in wildlife conservation.
Brunei Darussalam
In the field of Youth and Sports Affairs.
Directorate General of Civil Aviation of India (DGCA) and the French Civil Aviation Authority.

6. Cabinet approves the Proposal for Extension of Corridor-1 of Chennai Metro Rail Project Phase-I
The Union Cabinet under the Chairmanship of Prime Minister Shri Narendra Modi has given its ex-post facto approval to the proposal for Chennai Metro Rail Phase-I Project from Washermanpet to Wimconagar. It covers a length of 9.051 km. at a total cost of Rs. 3770 crore.
The project will be executed by the existing SPV of Government of India and the Government of Tamil Nadu having 50:50 equity of each i.e. Chennai Metro Rail Ltd. The project is scheduled to be completed by 2018.

7. Cabinet approves Mau-Tarighat New Railway line project
The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has given its approval for a new broad gauge line between Mau Station of North Eastern Railway and Tarighat Terminal station of East Central Railway. The total length of this new broad gauge line will be 51 kilometers.
The estimated cost of the project is Rs.1765.92 crore and expected completion cost is Rs.2109.07 crore with 5 percent escalation per annum. The project is likely to be completed in the next six years during 12th and 13th Plan period.

8. Cabinet approves Additional allocations for the BPL and APL families in non NFSA State
The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has given its approval for additional monthly allocation of 41,800 tonnes of food grains for the Below Poverty Line (BPL) families at BPL rates and 20,507 tonnes of food grains for Above Poverty Line (APL) families at 2/3rd of Minimum Support Price (MSP) rates to three non-National Food Security Act (NFSA) States, namely, Tamil Nadu, Kerala and Nagaland, from April to June, 2016 or till implementation of NFSA by the respective State, whichever is earlier.

9. Cabinet approves Procurement Quota to M/s. ITI Ltd. in procurements made by BSNL, MTNL and BBNL
The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has approved the proposal of Department of Telecommunications regarding continuation of reservation quota for M/s. ITI Limited in procurements made by BSNL, MTNL and Bharat Broadband Network Limited (BBNL).


1. Rahul Johri assumes charge as first ever CEO of BCCI
Rahul Johri assumed charge as first ever chief executive officer (CEO) of the Board of Control for Cricket in India (BCCI) in Mumbai.
He was appointed on the recommendation of the Justice Lodha Committee.
He will be report to the BCCI secretary Ajay Shirke and will be based at headquarters of BCCI in Mumbai.


1. A Kumbh in Kashmir after 75 years
'Dashar Maha Kumbh' is being organised on the confluence of sacred rivers Sindhu and Vitasta in Ganderbal district of Kashmir on June 14, after a period of 75 years, in which Kashmiri Pandits are expected to participate.
At the confluence of Vitasta (Jhelum), Krishen Ganga and Sindh (Indus) rivers, there is a Chinar tree known as Prayag Chinar standing on a small island in the middle of the confluence spot surrounded by water on all sides.


1. China To Launch First Hack Proof Quantum Communication Satellite
Chinese Academy of Sciences (CAS) has announced that China will be launching the World’s first Quantum Communications Satellite into space in the month of July. The launch will take place at Jiuquan Satellite Launch Center in China.
The project involved building the Quantum Satellite as well as four base stations that will enable communication between Earth and the satellite.

2. China launches three satellites
China successfully launched a new civilian high-resolution mapping satellite along with two other foreign satellites.
Satellites Launched from the Taiyuan Satellite Launch Centre in Shanxi of China.

3. Scientists Discovered Rare ‘Einstein Ring’
Scientists have discovered one of the most symmetrical Einstein rings - rare astronomical phenomena created by a galaxy located 10,000 million light years away that is hidden behind a more massive galaxy.
Einstein rings, predicted by Einstein's theory of General Relativity, are quite rare but scientifically interesting.


1. India-Morocco chamber of commerce to boost trade ties
India and Morocco launched a joint Chamber of Commerce and Industry in the Moroccan capital in an attempt to improve bilateral trade relationship.
A delegation led by Vice-President Hamid Ansari and comprising members of Parliament and officials from India, delegates from Morocco, including Prime Minister Abdelilah Benkirane, and business delegates from both countries attended the event.

2. Asia's largest tech trade show COMPUTEX kicks off in Taipei
Asia’s largest technology trade show COMPUTEX kicked off in Taipei, attracting more than 1,600 companies from 30 countries to showcase their latest products. This is the highest turnout - in terms of the number of nations - in five years.
The highlight of this year’s show is virtual reality (VR). Taiwan’s HTC is drawing the most media attention, after winning great reviews for its VR headset Vive since its debut in February.


1. World Milk Day
World Milk Day is a day established by the Food and Agriculture Organization (FAO) of the United Nations to recognise the importance of milk as a global food.
Milk day has been observed on June 1st each year since 2001.

2. Global Day of Parents
The Global Day of Parents is observed on the 1st of June every year.
The Day was proclaimed by the UN General Assembly in 2012 with a resolution to honours parents throughout the world.


1. Sri Lanka seam bowler Nuwan Kulasekara retires from Test cricket
Sri Lanka seam bowler Nuwan Kulasekara announced his retirement from Tests with immediate effect. He continues his career in limited over cricket.
The seamer played 21 Test matches for Sri Lanka and picked up 48 wickets since his debut in April 2005.


1. Agri-innovators from India, Israel to work together
What could be termed as a historical step to integrate innovations in agriculture and information technology, the International Crop Research Institute for Semi-Arid Tropics (ICRISAT) and T-Hub signed a Memorandum of Understanding (MoU).
It will foster a collaborative environment to help entrepreneurs at T-Hub to leverage their skills to improve the lives of small-holder farmers in the dry lands of South Asia and Sub-Sharan Africa.

2. ISB sees 28% jump in applicants for PG programme this year
The Indian School of Business (ISB) has recorded a 28 per cent increase in number of applicants for its flagship one-year Post Graduate Programme in Management this year.
ISB continues to attract the best of experienced professionals from across the world wanting to join the flagship programme to improve their growth prospects.