Current Affairs Daily Updates June 29th 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. Suzuki Motors appoints Toshihiro Suzuki as CEO
• Suzuki Motor Corp announced the appointment of Toshihiro Suzuki as its next Chief Executive Officer (CEO).
• The appointment came after Osamu Suzuki announced that he will decline the CEO position to take responsibility for the automaker's use of incorrect testing methods when calculating vehicle mileage.

1. AbhishekBachchan holds a Guinness world record.
• Actor AbhishekBachchan holds the Guinness world record for most public appearances made by a film star in 12 hours for promoting the same film.
• While promoting 'Delhi 6' on February 22, 2009, Abhishek travelled to 7 cities including Ghaziabad, Gurgaon, Noida, Faridabad, Delhi, Mumbai and Chandigarh.
• He covered 1,800 km in 12 hours, travelling by car and private jet.
2. Amazon named world's smartest company of 2016
• Jeff Bezos-led online retail giant Amazon has topped MIT's annual list of the world's smartest companies of 2016 for combining innovative technology with an effective business model.
• Chinese web services company Baidu and the world’s largest DNA-sequencing company Illumina have been ranked second and third respectively.
• The list also includes Tesla Motors, Alphabet, Facebook, SpaceX and Snapchat.

1. SBI to raise $1.5 billion by issuing bonds
• Country's largest lender State Bank of India will raise long-term capital of up to $1.5 billion (over Rs 10,000 crore) by issuing bonds in US dollar or other convertible currency.
• The executive committee of the central board has approved to raise long term funds up to $1,500 million in single/multiple tranches, the fund raising will take place through a public offer and/or private placement of senior unsecured notes in US dollar or any other convertible currency during the current financial year 2016-17.
2. United Bank remains cautious on corporate lending, aims at 30% retail loan growth this fiscal
• Public sector lender United Bank of India is aiming to grow its retail credit portfolio by 30% for this fiscal as it remains cautions on lending to corporate sector. The bank is eyeing a 10-12% business growth in this financial year.
• At present corporate loan constitutes around 35-40% of the bank’s total loan portfolio. The lender aims to increase retail segment’s share in its lending portfolio. In the retail segment, the bank will focus on housing, education and vehicle loans.

1. Veteran playwright Kavalam Narayana Panicker passes away
• Theatre doyen Kavalam Narayana Panicker, who successfully blended the classical tradition and folk elements in the format of contemporary theatre, passed away.
• Famous for his own dramas like ‘Avanavan Kadamba’, ‘Daivathar’ and ‘Sakshi’, which are considered milestones in the history of contemporary Malayalam theatre,
• He also translated Sanskrit plays of classical masters like Kalidasa and Bhasa and brought them into the stage.

1. ITC to invest Rs 4,000 cr to set up to 9 plants
• FMCG major ITC will invest Rs 4,000 crore over the next 2-3 years to set up 8-9 factories across the country for manufacturing of food products.
• ITC's branded packaged foods division grew by around 11 per cent to clock a turnover of Rs 7,097.49 crore in 2015-16.
2. Paytm ties up with Suzuki Motorcycle for easy booking of two-wheeler models
• India's largest mobile payment and commerce platform Paytm announced its strategic partnership with Suzuki Motorcycle India Pvt. Ltd. to offer its customers the largest assortment of bike and scooter models across all transactional platforms in India.
• With over 400+ Suzuki dealers on-board, the Paytm marketplace will now enable booking of all Suzuki two-wheeler models on its platform across India.
3. Quality analysis: CIMFR, power developers, coal miners ink MoU
• Stat-run coal miners and power developers signed a tripartite memorandum of understanding (MoU) with Central Institute of Mining and Fuel Research (CIMFR) for the quality analysis of coal supplied to coal-based generating companies. As reported by FE earlier, this mechanism could bring down power cost by as much in R1.5 per unit.
• CIMFR, based in Dhanbad, Jharkhand, and a constituent laboratory of the Council of Scientific and Industrial Research (CSIR), will test the grade of coal at both the loading and unloading points of a power station. If grade slippage is detected, the generators will be compensated by the coal suppliers for the difference in gross calorific value (GCV) of the dry fuel. The lower cost of coal will then be passed through to the consumers, resulting in less expensive power.
4. EPFO aims to cover all workers under provident fund, pension by 2030
• EPFO aims to cover all the workers in the country under provident fund (PF), pension and life insurance by 2030.
• The vision document prepared by EPFO mentions objectives such as “universal social security coverage on mandatory basis by way of provident fund, pension and life insurance for all workers of the country”.
• The vision also talks about online services for all EPFO benefits with state-of-the-art technology and best service delivery practices.

1. Italy and Netherlands to share Security Council seat in a 'show of unity'
• In a symbolic gesture for European unity, Italy and the Netherlands have proposed to split a two-year term on the UN Security Council, after the two countries tied in a contested race for a non-permanent seat on the council.
• The elected countries will begin a two-year stint on the council on January 1, taking their seats alongside the five permanent council members - Britain, France, China, Russia and the United States.
2. Ethiopia, Bolivia, Sweden elected non-permanent UNSC members for two-year term
• The UN General Assembly elected Ethiopia, Bolivia and Sweden as non-permanent members of the Security Council for a two-year period beginning in January, 2017.
• The 193-member UN body conducted the elections for five non-permanent seats, which included one seat for the African Group, one seat for the Group of Asia and the Pacific small island developing states, one seat for the Group of Latin American and Caribbean States, and two seats for the Western European and Others Group.

• Cabinet clears pay hike for one crore govt employees, pensioners 2.5 times hike
in basic pay and pensions under the 7th Pay Commission recommendations that will cost the exchequer annually Rs 1.02
lakh crore, which the government will have a multiplier effect on
• Cabinet approves Memorandum of Understanding between Union Public Service Commission and Royal Civil Service Commission, Bhutan. The MoU will strengthen the existing relationship between RCSC and UPSC. It will facilitate sharing of experience and expertise of both the parties in the area of recruitment.
2. Majuli becomes India’s first island district
• A river island in Assam has been rewarded for electing the head of the state’s first BJP-led government.
• Sonowal had won the assembly election this year from Majuli Island in the river Brahmaputra, a constituency reserved for scheduled tribes.
• The erosion-troubled Majuli, now a sub-division of Jorhat district, will become the 34th district of Assam.
3. FSSAI signs pact with ASCI to check misleading advertisements
• Regulator FSSAI joined hands with Advertising Standard Council of India (ASCI) in its bid to check misleading advertisements in the food and beverages sector.
• FSSAI will also redirect complaints against misleading food and beverages advertisements to ASCI.
4. Maharashtra govt announces housing concessions for EWS
• Maharashtra government decided to offer various concessions to the economically weaker sections (EWS) for projects under its ambitious "housing for all" scheme.
• Land for such affordable housing projects will be allotted to the government housing agencies at nominal rates as per this cabinet decision.
• 50 per cent concession will be given in the surveyor and development cost while stamp duty is being fixed at Rs 1,000 for houses meant for the EWS.

1. P T Bopanna Gets Gourmand Award for World’s Best Book on Coffee.
• City-based freelance journalist and author P T Bopanna’s book ‘The Romance of Indian Coffee’ have been chosen as the world’s best book on coffee at The Gourmand World Awards function at Yantai in China.
• The book, earlier shortlisted for the finals of the ‘Best in the World’ books under the ‘coffee books’ category was picked from the entries of 64 countries.
• ‘The Romance of Indian Coffee’ was published in 2011, and takes a 360-degree view of Indian coffee.

1. Exercise ‘Jalrahat’ for flood relief in Assam commences
• Exercise JALRAHAT commenced at Narangi Cantt, Assam.
• The exercise JALRAHAT is a joint initiative taken by the Assam State govt and the armed forces that is being led by GAJRAJ Corps with full support from HQ Eastern Command.

1. Indian Navy inducts indigenous heavyweight torpedo 'Varunastra'
• Indigenously-built heavyweight anti-submarine torpedo Varunastra has been successfully inducted in the navy, making India one of the eight countries to have the capability to design and build such a system.
• It was developed by Naval Science and Technological Laboratory (NSTL), a premier laboratory of DRDO.
2. China Launches 2nd Shijian-16 Series Satellite
• China, a communist nation in East Asia has successfully launched its second Shijian-16 series satellite for space research and experiments.
• The satellite was launched on board of Long March-4B rocket from the Jiuquan Satellite Launch Centre in Jiuquan, northwest China’s Gansu Province.
• It was the 231st by a Long March rocket.
3. Google brings Earth into better focus
• Google's free online mapping service is bringing the world into better focus with an updated version of Earth that takes advantage of photos from a US Landsat 8 satellite.
• Google Earth previously relied on images from a Landsat 7 satellite, which encountered a hardware problem that resulted in large diagonal gaps in pictures.

1. US, Canada and Mexico pledge 50% of power from clean energy by 2020
• The leaders of the US, Canada and Mexico, meet at the so-called “Three Amigos” summit, will pledge to have their countries produce 50% of their power by 2025 from hydropower, wind, solar and nuclear plants, carbon capture and storage, as well as from energy efficiency measures.
• Barack Obama, Justin Trudeau and Enrique Peña Nieto will commit to a new regional clean power goal at a summit.

1. National Statistics Day is observed on June 29th
• The National Statistics Day is being observed every year on 29 June to create public awareness among people about the importance of statistics in daily life and in the process of planning and development.
• It is celebrated annually on the occasion of Birth anniversary of India’s eminent statistician Late Prof Prasanta Chandra Mahalanobis.

1. Indore to host first ever Test in New Zealand series
• Indore is set to host its first-ever Test during the three-match series against New Zealand .
• India will play three Tests against New Zealand from Sep 22 -Oct 12.
• Virat Kohli will lead India in the Test series.
2. Virat Kohli launches new startup Stepathlon kids to promote fitness among children
• Virat Kohli and technology-driven fitness platform Stepathlon Lifestyle has announced the launch of Stepathlon Kids – a company dedicated to children’s fitness programmes.
• Through its annual 30 day virtual race, the venture will urge children to take 15,000 steps a day, helping them adopt a healthy lifestyle and increase awareness about health issues.

1. 1,000 Jan Aushadhi shops for State
• The Central Government has sanctioned 1,000 Jan Aushadhi (generic medicine) shops for Andhra Pradesh. A Memorandum of Understanding to this effect was signed by the Central and State Governments in New Delhi.
• One Jan Aushadhi shop would come up in every mandal in the State and over 600 different types of drugs would be available in these shops at one-tenth of the price of branded drugs.
2. Mega food park to come up at Mallavalli
• The location of the mega food park, earlier proposed to be developed at Thotapalli village in Agiripalli mandal of Krishna district, has been shifted to Mallavalli village in Bapulapadu mandal of the district.
• As part of its Endeavour to develop the new capital by setting up industries, the Government is now focusing on giving the much-needed push to agro-based industries.

1. India jumps 19 places in World Bank's global logistics performance ranking
• India has jumped 19 places in the latest World Bank ranking in the global logistics performance, reflecting the improvement in movement of goods inside the country thus facilitating better trade.
• The World Bank in its latest once-in-two-year Logistics Performance Index (LPI) ranked India 35th as against the 54th spot it occupied in the previous 2014 report.