Current Affairs Daily Updates June 22nd 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!!!

APPOINTMENTS
1. SoftBank Group names Ken Miyauchi as President and COO.
• Japanese conglomerate SoftBank named Ken Miyauchi, head of the group's Japanese telecommunications operations, as President and Chief Operating Officer (COO).
• The appointment came after Nikesh Arora had abruptly resigned from his position after it became clear that Chairman and CEO Masayoshi wanted to remain at the helm longer than first planned.
2. PayPal appoints Anupam Pahuja as India Country Manager and MD.
• World’s leading payments platform PayPal announced the appointment of Anupam Pahuja as the Managing Director (MD) and Country Manager for its India operations.
• Pahuja will be responsible for all aspects of PayPal's business in India. He will also be responsible for further strengthening of the company's operations in the country.
• Prior to joining PayPal, Pahuja worked as the India MD for SumTotal Systems.

AWARDS & HONOURS
1. Freida to get International Icon Award at IIFA
• Slumdog Millionaire star Freida Pinto will make her debut at the International Indian Film Academy (IIFA) gala in Madrid.
• The US-based Indian actress will be honoured with International Icon award at the 17th edition of the gala.

BANKING
1. South India Bank launches Remit2 India Service
• South India Bank has announced the launch of its Remit2India Service.
• It is a secure online money transfer service for NRIs.
• The new arrangement facilitates faster, cost -effective remittance from the US to SIB accounts in India.
2. Bank of India sells 18% stake in Star Union Dai-ichi Life for Rs. 540 cr
• Bank of India (BOI) has sold 18 per cent stake in Star Union Dai-ichi Life Insurance Company to joint venture partner Dai-ichi Life Insurance Company (DILIC). Post the stake sale, BoI’s stake will get diluted to 30 per cent while that of Japanese life insurer Dai-ichi Life will go up to 44 per cent.
• Union Bank of India, the third joint venture partner, continues to hold 26 per cent stake in Star Union Dai-ichi (SUD) Life Insurance Company, which was incorporated as a three-way JV in 2007.

DEATHS
1. Noted Telangana poet and lyricist Guda Anjaiah dies
• Noted Telangana poet and lyricist Guda Anjaiah passed away following a brief illness at Ragannagudem, Telangana. He was 61.
• He played a key role in Telangana statehood movement by penning several songs which later found their way into films.

ECONOMY
1. MasterCard plans to invest $800 m in India over the next 4 years
• Global payments Services Company MasterCard plans to invest $700-800 million in India between now and 2020.
• These investments will flow into processing, mobile technology and solutions and data analytics.
2. Cabinet approves Rs.6,000 Cr package for textiles
• Government approved a Rs 6,000 crore special package for textiles & apparel sector to create one crore new jobs in 3 years, attracting investments of $11 billion and generating $30 billion in exports.
• The measures approved include additional incentives for duty drawback scheme for garments, flexibility in labour laws to increase productivity as well as tax and production incentives for job creation in garment manufacturing.
3. GVFL invests Rs. 40 crore in cold-chain operator
• GVFL Limited announced an investment of Rs. 40 crore in Mumbai-based integrated cold-chain operator Schedulers Logistics India Pvt Ltd under GVFL’s Golden Gujarat Growth Fund.
•The transaction marks the second round of growth financing for GVFL’s first exposure in the logistics sector.

INTERNATIONAL
1. Finance Minister to leave on the five-day official visit to China
• The Union Finance Minister Arun Jaitley will leave on a five-day official visit to China from 23- 27th June.
• Finance Minister to attend the First Annual Meeting of the Board of Governors’ of Asia Infrastructure Investment Bank and 8th India-China Financial Dialogue.
2. Nagpur and Jinan are now sister cities
• NAGPUR and Chinese city of Jinan have tied up as sister cities to facilitate mutual exchange and benefit in different sectors.
•A Memorandum of Understanding (MoU) was signed between the municipal executive heads of the two cities.
• Jinan is capital of Eastern China’s Shandong province with a population of about 30 lakh and is known for its beautiful lakes.
3. Moscow to explore high-speed Hyperloop commuter transport system
• Moscow has signed an agreement with Los Angeles-based company Hyperloop One to explore building a futuristic, high-speed transportation system known as a Hyperloop in the Russian capital.
• A Hyperloop involves using magnets to levitate pods inside an airless tube, creating conditions in which the floating pods can shuttle people and cargo at speeds of up to 750 mph (1,200 kph).

NATIONAL
1. Withdrawal of the Drugs and Cosmetics (Amendment) Bill, 2013
• The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has decided to withdraw the Drugs and Cosmetics (Amendment) Bill, 2013, which had been introduced in the Rajya Sabha. The Bill had been examined by the Standing Committee of Parliament which had made a number of recommendations for changing the provisions of the Bill.
2. Cabinet approved
• Special package for employment generation and promotion of exports in Textile and Apparel sector.
• MoU between India and Germany on technology resourcing in manufacturing, including sub-sectors of Capital Goods
• Protocol amending the Agreement for avoidance of double taxation and prevention of fiscal evasion with Belgium
• Four laning of Hubli-Hospet Section of NH-63 in Karnataka.
• Tax and Production Incentives for Job Creation in Garment Manufacturing Sector.
3. Amendment in Rule 114H of Income-tax Rules, 1962
• The Rule 114H of the Income-tax Rules, 1962 (the Rules) has been amended vide Notification No.48/2016 [S.O.2151 (E)].
• In order to provide sufficient time to the reporting Financial Institutions for completing the due diligence procedure in respect of other reportable account referred to in Rule 114H (3) (d) (ii).
4. Establishment of Fund of Funds for funding support to Start-ups
• The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved the establishment of "Fund of Funds for Startups" (FFS) at Small Industries Development Bank of India (SIDBI) for contribution to various Alternative Investment Funds (AIF), registered with Securities and Exchange Board of India (SEBI) which would extend funding support to Startups. This is in line with the Start up India Action Plan unveiled by Government in 2016.
• The corpus of FFS is Rs.10000 crore which shall be built up over the 14th and 15th Finance Commission cycles subject to progress of the scheme and availability of funds.
5. Union Minister of Human Resource Development announces new UGC foreign academic collaboration regulations
• Indian Universities and Colleges, having the highest grade of accreditation/ threshold accreditation, will now be able to apply online to the University Grants Commission (UGC) for starting twinning and collaborative arrangement with quality Foreign Educational Institutions (FEIs) in undergraduate and postgraduate programmes leading to the award of a degree.
• The collaborating FEI can be indicated on the degree, the logo and primacy being of the Indian institution. Credits from collaborating FEI when jointly signed by the IEI shall form part of the transcript. FEI may also sign the transcript/credit issued by the IEI.
6. Minister of Railways Shri Suresh Prabhakar Prabhu Flags Off Various New Train Services
• Minister of Railways Shri Suresh Prabhakar Prabhu in a programme held at Rail Bhawan flagged off and dedicated following new trains services to the nation.
• Inauguration of Tr. No. 13205/13206 Danapur-Saharsa ‘Janhit Express’ (Daily)
• Extension of Tr. No. 15283/15284 Jaynagar-Saharsa Janki Express Up to Katihar (Daily).
7. Aadhaar to be linked with caste, domicile certificates
• All state governments have been asked to link Aadhaar with caste and domicile certificates to be issued to school students, as part of a first-of-its-kind initiative by the Centre.
• Certificates are issued within 60 days time to the students when they are studying in Class V or VIII.
8. Jaitley released silver coin to mark Martyrdom Day of Banda Singh Bahadur
• Information and Broadcasting Minister Arun Jaitley released commemorative silver coin to mark the 300th Martyrdom Day of Banda Singh Bahadur.
• Bahadur is considered to be first sovereign ruler of Punjab. Need to educate people about the rich history and tradition of Punjab including its leaders like Banda Singh Bahadur.
9. Maharashtra Government grants minority status to Jews
• Jews in Maharashtra are now a minority community. The State Cabinet approved the decision to grant minority status to the Jews, a demand pending for many years. The decision is based on the Maharashtra State Minorities Commission Act, 2004.
• The minority status will also help to identify the problems of the community, and the government can come up with schemes to resolve them.
10. Cabinet approves biggest ever spectrum auction
• Paving the way for the largest-ever spectrum auction in the country, the Union Cabinet chaired by Prime Minister Narendra Modi approved the sale of all available spectrum a move that could potentially fetch the exchequer about Rs.5.5 lakh crore going by the reserve price.
• The auction in which about 2000 MHz of airwaves will be put up for sale is likely to be conducted. The government had earned revenues of Rs 1.1 lakh crore from the auctions held last year.
11. Maharashtra to set up anti-terrorism school for cops
• To enable the police force and the administration to effectively combat the challenges posed by naxalites, the Maharashtra government decided to set up a special training institute at Nagpur. The state government will operate and oversee its functioning and an IPS officer will be specially deployed.
• The Counter-Insurgency and Anti- Terrorism School will be set up at Suraburdi in Nagpur; will impart unconventional training to police force that has many challenges in the region.

Persons in News
1. Olympian Anju Bobby George resigned as president of Kerala Sports Council.
• Olympian Anju Bobby George resigned as President of the Kerala Sports Council.
• The iconic long jumper was the first Indian athlete ever to win a medal in a World Athletics Championships in Paris, resigned after being accused for corruption by the state's sports minister EP Jayarajan.
• Bobby George was appointed president of the state's sports council in 2015, by the erstwhile Oommen Chandy government.
2. Aveek Sarkar resigns as Chief Editor of ABP Group of Publications.
• Aveek Sarkar resigned as the Editor-in-Chief of Ananda Bazaar Patrika (ABP) and The Telegraph.
• However, he would continue as the chairman of the group. He is succeeded by Arup Sarkar.
• Moreover, Anirban Bhattacharya was appointed as the Editor of the Ananda Bazaar Patrika and R Rajagopalan was named as the Editor of The Telegraph.

PLACES IN NEWS
1. Rehabilitation of four lane of Mahatma Gandhi Setu on Ganga River at Patna in Bihar
• The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi, has approved the project namely rehabilitation of four lane 5.575 km long Mahatma Gandhi Setu at NH-19 on Ganga River at Patna in Bihar.
• The bridge will be constructed after dismantling the damaged pre-stressed cantilever arms superstructure and subsequent re-decking by steel truss.
2. Shri J P Nadda inaugurates Center for Integrative Medicine and Research at AIIMS, New Delhi
• The Union Minister for Health and Family Welfare, Shri J.P. Nadda inaugurated the Centre for Integrative Medicine and Research (CIMR) at the All India Institute of Medical Sciences (AIIMS) in New Delhi.
• The national centre at the premier institute of the country shall be dedicated to research, documentation and delivery of holistic healthcare.

SCIENCE & TECHNOLOGY
1. ISRO launches record 20 satellites in a mission
• The Indian Space Research Organisation (ISRO) successfully launched a record 20 satellites in a single mission from Satish Dhawan Space Centre in Sriharikota.
• They include two student satellites from Indian universities and 17 of four foreign countries.
2. Sphero's New SPRK+ Robot Will Teach Kids To Code
• Sphero launched its new robot 'SPARK+', priced at $130, that teaches basic principles of coding to the kids.
• Sphero Spark+, which has a tougher, scratch-resistant skin. It also has a more advanced version of Bluetooth, meant to make it easier to pair the bots with multiple devices in a classroom setting.

SEMINARS & MEETINGS
1. Vice President inaugurates the Second International Conference on Yoga
• A two-day International Conference titled ‘Yoga for Body and Beyond’ is oraganised by Ministry of AYUSH from 22-23 June, New Delhi.
• Over 70 delegates from 35 countries are participating in the Conference.
• During the inaugural session certificates were presented to the winners of ‘Best Yoga Apparels’ and ‘Best Yoga Geet’, competitions for which were commissioned by Ministry of AYUSH.
2. 3rd National Standards Conclave
• Department of Commerce, Government of India in collaboration with Confederation of Indian Industry (CII), Bureau of Indian Standards (BIS) and the National Accreditation Board for Certification Bodies (NABCB) and other knowledge partners is organizing the 3rd National Standards Conclave on 23-24 June in New Delhi.
• The Conclave will be inaugurated by Commerce and Industry Minister Smt. Nirmala Sitharaman.
3. First High Powered Committee meeting on Swachh Bharat Mission & Ganga Rejuvenation held
• The first meeting of the High Powered Committee (HPC) to strategize Communication Roadmap for Swachh Bharat and Ganga Rejuvenation was held under the Chairmanship of Minister of Information & Broadcasting, Finance & Corporate Affairs Arun Jaitley.
• The meeting was attended by Uma Bharti, Minister of Water Resources & Ganga Rejuvenation, Maneka Gandhi, Minister of Women and Child Development, Birender Singh Chaudhary, Minister of Drinking Water & Sanitation, Smriti Irani, Minister of Human Resources Development and Rajyavardhan Rathore Minister of State for Information & Broadcasting.
4. Eighth India Coal Summit
• Indian Chamber of Commerce in association with Ministry of Coal and Ministry of Steel, Government of India organized the “8th India Coal Summit” in New Delhi on 22nd June.
• The Summit focused on subjects like ‘Innovations in Mining Technology & Equipment, Focus on enhancing Productivity-Policy & Regulatory Framework, Governance in Coal Mining: Issues & Challenges, Coal for Power Generation in India: Strategic Issues & Challenges.’

SPORTS
1. India Beat Zimbabwe By Three Runs in Cliff-Hanger, Win Series 2-1
• India pipped Zimbabwe by three runs to win the three-match T20 series 2-1 at the Harare Sports Club in Harare, Zimbabwe
• Kedar Jadhav (58 off 42 balls) was adjudged as the Man of the Match.
• Man of the series: Barinder Sran (an Indian bowler).
2. Andy Murray wins record fifth Queen's Club title
• Britain's Andy Murray has won the Queen's Club Championship in London for a record-breaking fifth time. He beat Canadian Milos Raonic.
• The 29-year-old had earlier won the Aegon Championships in 2009, 2011, 2013 and 2015.

STATE
1. Andhra Postal circle releases stamps on Yoga booklet
• The general secretary of Andhra Pradesh Yoga Association VV Rama Rao. He released ‘Information booklet- Stamps on yoga’ published by Indian Posts, at the main Post office.
• Yoga is a natural way of staying fit leaving behind the external pressures of current day society. There is a dire need to go back to nature’s way of living since technology and competition in the changed scenario plays havoc with the physical and psychological aspects of human race.

SURVEYS
1. India ranks 10th in FDI inflows: UNCTAD report
• India continues to be among the top ten countries in terms of foreign direct investment (FDI) inflows globally and the fourth in developing Asia, as per the World Investment Report 2016 by the United Nations Conference for Trade and Development (UNCTAD).
• India’s FDI inflows have increased to $44 billion in 2015 as compared to $35 billion in 2014.