Current Affairs Daily Updates June 27th 2016

Dear Readers,
Welcome to Mentor for Bank Exams. Here I am presenting the current affairs of the day covering utmost events happened which are helpful for upcoming competitive exams as well to boost your general awareness. Kindly make use of these!!!

1. Sujoy Bose appointed as CEO of National Investment and Infrastructure Fund.
• Sujoy Bose was appointed as the Chief Executive Officer (CEO) of the National Investment and Infrastructure Fund (NIIF).
• His appointment was made by the Union Government following his selection by the Selection Committee constituted under Department Of Economic Affairs Secretary Shaktikanta Das.

1. Beyonce wins four awards at BET Awards 2016
• Singer Beyoncé won four awards, including the 'Best Female R&B/Pop Artist' award, at the BET Awards 2016, held in Los Angeles.
• Rihanna and Drake won the Best Collaboration award for 'Work'.

1. NSE to file draft papers for domestic listing by Jan 2017
• Ending speculation about its listing plans, top stock exchange NSE has decided to get listed in India as well as abroad and will file draft papers with Sebi for domestic listing by January 2017.
• It will further file for overseas listing by April 2017.
• The exchange, which has been pitching hard for either self-listing or direct supervision by Sebi and not by a rival exchange.
2. Government initiates process to constitute Monetary Policy Committee (MPC) under the Reserve Bank of India Act, 1934
• Government decides to bring the provisions of amended RBI Act regarding constitution of MPC into force, so that statutory basis of MPC is made effective; Rules governing the procedure for Selection of Members of Monetary Policy Committee and Terms and Conditions of their Appointment and factors constituting failure to meet inflation target under the MPC Framework notified.
• With a view to maintain price stability, while keeping in mind the objective of growth, the Reserve Bank of India Act, 1934 (RBI Act) has been amended by the Finance Act, 2016 to provide for a statutory and institutionalized framework for a Monetary Policy Committee (MPC).

1. Tata, Starbucks launch new joint initiatives
• In a bid to raise their partnership to a new level, Starbucks Coffee Company and the Tata Group have agreed to take a host of initiatives, including the inclusion of a single-origin coffee from India in its U.S. outlets, bringing the brand to Vistara airlines and taking Himalayan mineral water to Asia Pacific markets.
• For the first time, Starbucks will offer a single-origin coffee from India in the U.S., giving customers from outside the country a unique opportunity to experience a rare, small-lot coffee from Tata Nullore Estates.
2. IPL brand valuation rises to $4.16 billion: D&P
• The Indian Premier League (IPL) has seen a definite increase in its brand valuation in its ninth season, as it drew attention of viewers as well as advertisers for all the right reasons a relatively controversyfree tournament and good on-field performances that brought the spotlight back to the game.
• According to global valuation and corporate finance advisor Duff & Phelps, the value of brand IPL has jumped to $4.16 billion after the 2016 edition, against $3.5.54 billion in 2015. The 19% jump is despite the fact that the US dollar to Indian rupee currency has depreciated by nearly 10%.
3. CBDT clears the air on tax collection at source
• The Central Board of Direct Taxes (CBDT) has made it clear that the 1 per cent tax collection at source (TCS) introduced in this year’s Budget will apply only to the cash component and not the entire sale consideration. This has been conveyed in a clarificatory circular issued by the CBDT.
• To curb the cash economy, Budget 2016 had introduced a provision in income tax law requiring the seller to collect 1 per cent tax at source from the purchaser on the sale in cash of certain goods or provision of services in excess of Rs. 2 lakh.
4. GAAR to apply on income from transfer of investments only after April 1, 2017
• In a bid to provide clarity to investors, the General Anti-Avoidance Rules (GAAR) will not apply to any income earned or received from transfer of investments before April 1, 2017.
• The move will bring the anti-abuse rules that will be applicable from assessment year 2018-19 in line with the reworked India and Mauritius Double Taxation Avoidance Agreement that will grandfather all investments till April next year.

1. Russia, China approve business initiatives worth $50bn during Putin visit
• A Russian-Chinese commission on investment cooperation has selected nearly 60 business initiatives to be put in the works, Russia's President Vladimir Putin announced during an official visit to Beijing.
• 2016 marked the 15th anniversary of the China-Russia treaty of friendship and hoped the two countries might remain "friends forever".
2. India joins elite missile control group MTCR
• India has joined an exclusive club of countries controlling exports in missile technology.
• Foreign Secretary S Jaishankar signed the Missile Technology Control Regime (MTCR), aimed at preventing unchecked proliferation of missiles.
• India formally became the 35th member of the Missile Technology Control Regime (MTCR) that aims at the non-proliferation of missiles, rocket systems, and unmanned air vehicles, among others.

1. Training programme on “Ornamental Fish Culture and Management for Livelihood Improvement of Rural Women” inaugurated
• Union Minister of Agriculture and Farmers’ Welfare, Shri Radha Mohan Singh has inaugurated the 5 days training programme on “Ornamental Fish Culture and Management for Livelihood Improvement of Rural Women” at ICAR Research Complex for Eastern Region, Patna.
• The training centre on ornamental fish culture and production has been established recently at ICAR Research Complex for Eastern Region, Patna for imparting training to rural women for their empowerment through ornamental fish farming.
2. Shri J P Nadda launches new Nurse Practitioner courses and ‘Live Register’ for Nurses
• Underscoring the importance of up gradation of skills of nurses across the country, Shri J P Nadda, Union Minister for Health and Family Welfare stated that the Government is committed to providing accessible, affordable and quality training to them.
• The Nursing Staff occupies important position in healthcare delivery and without them the desired results cannot be achieved. The role of the nursing staff can be compared equally to that of the doctors when we think of achieving the SDGs.
3. Union Home Minister chairs 22nd meeting of Eastern Zonal Council at Ranchi
• The Union Home Minister Shri Rajnath Singh chaired the 22nd meeting of the Eastern Zonal Council held at Ranchi, Jharkhand.
• The Eastern Zonal Council, consisting of the states of Jharkhand, Bihar, Odisha and West Bengal, discussed the issues like modernization of State Police Forces, measures to curb communal tension and Left Wing Extremism (LWE), curbing of drug trafficking, measures for bringing Green Revolution to Eastern India, issues relating to fisheries, productivity of livestock and poultry to usher Blue Revolution.
4. MNRE sets Target of Setting up One Lakh Family type Biogas Plants for FY 2016-17
• With an objective to provide clean gaseous fuel for cooking and organic bio-manure as a by-product, the Ministry of New and Renewable Energy (MNRE) has allocated to the States /UTs an annual target of setting up one lakh family size biogas plants (1 m3 to 6 m3capacity) for the current year, 2016-17.
• This will result in a likely saving of about 2,190,000 LPG cooking cylinders annually, besides providing biogas plant processed bio-manure to reduce and supplement use of chemical fertilizers.
5. Launching of Skill Development Training Programmes under Kamarajar Port Limited’s CSR initiatives – 2016
• Shri Pon Radhakrishnan, Hon’ble Minister of State for Road Transport, Highways & Shipping, Government of India, inaugurated the Skill Development Training programmes under Corporate Social Responsibility Initiatives – 2016 of KPL at Chennai in the presence of Shri M.A Bhaskarachar, Chairman cum Managing Director, Kamarajar Port Limited.
• The Hon’ble Minister launched the training programmes for 865 applicants including the training on “Tailoring”. As a token of launching the training programme on Tailoring, tool kits for tailoring were distributed to the trainees.
6. BHEL commissions two hydel units in Afghanistan
• State-run Bharat Heavy Electricals Ltd (BHEL) has commissioned two units of 14 Megawatts each at Salma Hydro Electric Project in Afghanistan.
• In the execution of the Salma hydro project, BHEL faced numerous challenges in the movement of men and material through difficult terrains.
7. Indo-Nepal boundary pillars to be GPS-enabled
• Over 8,000 boundary pillars along the Indo-Nepal border will be equipped with positioning system using Global Navigation Satellite System, allowing authorities for the first time to effectively manage the more than 1,700-km-long porous boundary.
• The Nepal-India Boundary Global Navigation Satellite System (NIB GNSS) would be used for Nepal-India boundary pillars.

1. Nestle named Ukf Mark Schneider as CEO
• Food and Beverage multinational Nestle SA named Ulf Mark Schneider as its next Chief Executive Officer (CEO).
• He is the CEO of Fresenius, a Germany-based healthcare company. He will join Nestle on 1 September 2016 and start as CEO on 1 January 2017.
• He will succeed incumbent CEO Paul Bulcke, who will resign from the position on 31 December 2016.

1. New train between Sonepat and Jind
• Railway Minister Suresh Prabhu flagged off a maiden train on the 81km long railway line between Sonepat and Jind and stressed the need to create infrastructure to promote growth and meet future challenges.
• Mr Prabhu described Punjab, Haryana and Chandigarh “as the growth triange of India.
2. CSIR’s CRRI validates usage of Ghazipur Municipal Waste to NHAI for earth-filling in construction of highways
• NHAI had entrusted the assignment of technically verifying whether Solid Waste Material generated from Municipal/City waste can be utilized for highway construction to CSIR-Central Road Research Institute (CRRI).
• The CSIR-CRRI conducted a study by collecting 70 tonnes of Municipal Solid Waste from different locations from Ghazipur land fill site of Municipal Corporation of Delhi.
3. Coca Cola to set up plant in Uttarakhand
• Coca Cola will set up a bottling plant in Sitarganj in 70 acres of land to be provided by the Uttarakhand government.
• Few years back, Chharba village residents had opposed the Coca Cola plant on the environmental grounds.

1. Microsoft launches prototype mosquito trap
• Technology giant Microsoft launched a prototype trap for detecting mosquito-borne illnesses like dengue and Zika.
• The prototype trap is being developed as part of the Microsoft's Project Premonition - a novel autonomous system for monitoring, detecting and preventing emerging infectious disease outbreaks and marks the company's biggest innovation in trap technologies.

1.Union Home Minister chairs 22nd meeting of Eastern Zonal Council at Ranchi
• The Union Home Minister Shri Rajnath Singh chaired the 22nd meeting of the Eastern Zonal Council held at Ranchi, Jharkhand.
• Council consisting of the states of Jharkhand, Bihar, Odisha and West Bengal, discussed the issues like modernisation of State Police Forces, curb communal tension and Left Wing Extremism (LWE), drug trafficking, measures for bringing Green Revolution to Eastern India, issues relating to fisheries, productivity of livestock and poultry to usher Blue Revolution.

1. National inter-State senior athletics begins in Hyderabad
• 56th National inter-State senior athletics championships begin at the G.M.C. Balayogi Stadium (Gachibowli).It is a qualifying event for the Rio Olympics.
• As many as 744 athletes, including 264 women from 26 states will take part in the five-day event.

1. Modernization of zoo parks
• The governing body of Zoos and Parks Authority of Telangana (ZAPAT), headed by Minister for Forests and Environment Jogu Ramanna, decided to take up modernization of zoo parks in the State by improving facilities for visitors and increasing enclosures of fauna.
• After adopting the annual plan for 2016-17, the meeting reviewed the conditions of zoos and parks in the State and decided to increase security by installing high security fencing and continuous surveillance with closed circuit television cameras.
2. Container cargo: Vizag poised to become a regional hub
• With growing emphasis on promoting transshipment and efforts to set up ‘dry ports’ (Inland container depots) by Visakhapatnam Port Trust in Telangana, Odisha, and Chhattisgarh, Visakhapatnam has bright prospects to emerge as a regional hub for container cargo.
• The steady growth at the all-weather container terminal developed by Visakha Container Terminal Private Ltd (VCTPL), a BOT operator, and availability of huge hinterland extending up to 700 km on the East Coast, have led to brisk business at container freight stations (CFS). VCTPL and others are also developing CFS.

1. India maintains the third position in ICC ODI team rankings
• India mantained its number three position in the recently released MRF Tyres ICC ODI Team Rankings which is being headed by world champions Australia.

• With 110 rating points in its kitty, India are placed below Australia (123) and second-placed New Zealand (113).