Daily Current Affairs Updates–5th August 2016:
Daily Current affairs News Updates about the National and International events were listed here. Candidates those who are preparing for IBPS/SBI/PO/Clerk exam and all other competitive exams can use this.
Nitin Patel set to be new Chief Minister of Gujarat
· Gujarat's senior Cabinet Minister Nitin Patel is set to take over as Chief Minister in place of Anandiben Patel.
· The official announcement of Mr. Patel's appointment will be made after the BJP legislature party meeting at 4 p.m.
· “He is the final candidate and confirmed as next Chief Minister in place of Anandiben Patel," said a senior leader, adding "he is number 2 in the Cabinet."
Telangana signs MoU with ISRO for water resources info system
· State Irrigation Department on Sunday will sign a memorandum of understanding (MoU) with Indian Space Research Organisation for setting up Telangana Water Resources Information System.
· The system will keep eye from sky on state's water resources and ISRO will update the system with new satellite imagery of all water bodies every fortnight.
· According to an official release, the new system will be set up by ISRO's National Remote Sensing Centre.
· "The MoU will be signed on August 7 in the presence of Irrigation minister Harish Rao and ISRO chairman Kiran Kumar," it stated.
PM will launch mobile app for PMO developed by six students on Aug 6
· Taking citizen engagement to another level, Prime Minister NarendraModi on Saturday will launch a mobile app for PMO, which has been developed by six students, selected through a contest to make the app.
· The government is celebrating two years of Mygov.in, the citizen engagement portal, from where Modi had often crowd sourced ideas for his radio talk Mann Ki Baat and other signature campaigns of the government.
· The mobile app will allow the Prime Minister to directly interact with the citizens who can share their ideas and thoughts.
· According to Mygov CEO GauravDwivedi, the app has been made by a team of six students, three of whom are from Delhi Technical University.
Revised salary under 7th Pay commission from Nov 1: Goa CM
· Goa chief minister LaxmikantParsekar on Thursday announced before Goa legislative assembly that order accepting the recommendations of 7TH Pay commission will be issued before Ganesh Chaturthi while revised salary will be paid from Nov 1, 2016.
· The arrears from January to December, he said will be posted in the GPF and new pension fund of the employees.A month ago Parsekar had announced that new Pay Commission will be made applicable.
· The government is expected to entail additional monthly liability of Rs 72 crore that include Rs 69 crore towards salary component and Rs 13 crore for pension fund on implementation of 7th pay commission.
States issue bonds worth Rs 1.66 lakh cr under UDAY scheme
· States have already issued bonds worth Rs 1.66 lakh crore under the UDAY scheme for revival of their debt-ridden discoms, Parliament was informed on 4th August, 2016.
· The Centre had launched Ujwal DISCOM Assurance Yojana (UDAY) on November 20, 2015 for the financial and operational turnaround of state-owned power distribution companies.
· The scheme aims to reduce interest burden, cost of power, losses in distribution and improve operational efficiency of the discoms.
· The entities were incurring a loss of Rs 60,000 crore every year and their accumulated debt was Rs 4.37 lakh crore when the scheme was launched.
Govt approves upgradation of NCDC and its labs
· The government has approved upgradation of National Centre for Disease Control, NCDC and its labs at a cost of over 382 crore rupees.
· Replying to supplementaries in the LokSabha, Minister of State for Health, Anupriya Patel said that establishment of 30 branches in States including eight existing branches of NCDC has also been approved at a cost of over 367 crore rupees.
INTERNATIONAL:
5 Central Asian countries receives $15 million from US
· The US has agreed to provide five Central Asian countries with up to $15 million in aid to boost trade, support renewable energy projects and help them counter terrorism, the American embassy in Uzbekistan said in a statement on Thursday.
· US Secretary of State John Kerry met with the foreign ministers of Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan in Washington on Wednesday.
· The ministerial level meeting of the so-called C5+1 group was the second meeting of its type, and was aimed at discussing mutually-agreed projects in the fields of trade, transport, business climate, renewable energy sources, the fight against terrorism, as well as the trafficking of weapons, illicit drugs and people, Sputnik news agency reported.
BANKING NEWS:
Bank of England cuts interest rates for first time since 2009
· The Bank of England cut interest rates for the first time since 2009 and said it would buy 60 billion pounds of government debt to ease the blow from Britain's June 23 vote to leave the European Union.
· The central bank said it expected the economy to stagnate for the rest of 2016 and suffer weak growth throughout next year. It cut its main lending rate to a record low 0.25 percent from 0.5 percent, in line with market expectations.
· But it also launched two new schemes, one to buy 10 billion pounds of high-grade corporate bonds and another - potentially worth up to 100 billion pounds - to ensure banks keep lending even after the cut in interest rates.
RBI constitutes a Committee on Household Finance
· The Reserve Bank of India (RBI) has set up a committee to look at the various facets of household finance in India and to benchmark India’s position vis-à-vis both the peer countries and advanced countries.
· The Committee will be chaired by Dr. TarunRamadorai, Professor of Financial Economics, University of Oxford and will have representation from financial sector regulators, namely, Securities and Exchange Board of India (SEBI), Insurance Regulatory and Development Authority of India (IRDAI), Pension Fund Regulatory and Development Authority (PFRDA) apart from Reserve Bank of India (RBI).
· The Committee is expected to submit its report by end July 2017.
BUSINESS/ECONOMY NEWS:
CBDT signs Bilateral Advance Pricing Agreement (APA) with Japanese trading company
· The Central Board of Direct Taxes (CBDT) entered into a Bilateral Advance Pricing Agreement (APA) on 2nd August, 2016 with the Indian subsidiary of a Japanese trading company.
· This is the first Bilateral Advance Pricing agreement with a Japanese company having a “Rollback” provision in it.
· Signing of this bilateral APA is an important step towards ascertaining certainty in transfer pricing matters of multinational company cases and dispute resolution.
· The APA Scheme was introduced in the Income-tax Act in 2012 and the “Rollback” provisions were introduced in 2014.
· The scheme endeavours to provide certainty to taxpayers in the domain of transfer pricing by specifying the methods of pricing and setting the prices of international transactions in advance.
Apple, IBM launch 'development hub' called MobileFirst in Bengaluru, India
· Software giant IBM and Apple has launched a global development hub called MobileFirst for iOS Garage in Bengaluru.
· The hub will enable clients to complete digital mobility projects asap.
· It is a platform for building mobile apps for the enterprise.
· It will serve as a global development hub for iOS apps.
· IBM also announced Mobile at Scale for iOS which is a new offering for clients looking to invest in digital transformation projects that include more than three iOS apps over a multi-year period.
States issue bonds worth Rs 1.66 lakh cr under UDAY scheme
· States have already issued bonds worth Rs 1.66 lakh crore under the UDAY scheme for revival of their debt-ridden discoms, Parliament was informed today.
· "As on August 1, 2016, bonds worth Rs 1,66,754crore have been issued by the participating states under UDAY and thus reduction in interest cost has already started. Cost of power is also on a downward trend," Power Minister PiyushGoyal said in a written reply to the LokSabha today.
· As per the statement, so far, 14 states -- Jharkhand, Chhattisgarh, Rajasthan, Uttar Pradesh, Gujarat, Bihar, Punjab, Jammu & Kashmir, Haryana, Uttarakhand, Goa, Karnataka, Manipur and Andhra Pradesh -- have signed memorandums of understanding (MoUs) under UDAY.
NatcoPharma gets final approval for Tamiflu capsules in the US
· Hyderabad-based NatcoPharma has received final approval from the US Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) of generic versions of Tamiflu oral capsules, 30 mg, 45 mg and 75 mg.
· The company filed the ANDA, containing a para IV certification, claiming the first to file status in the year 2011 and was granted tentative approval by the US drug regulator in March 2014.
· Used in treatment of influenza type A and B (bird and swine flu), Tamiflu (Oseltamivir phosphate) drug is owned by US-based Gilead Sciences along with its patent partner Roch Holding.
APPOINTMENTS:
Youssef Chahed named Tunisia`s new prime minister
· Tunisia's President BejiCaidEssebsi named Youssef Chahed as the new prime minister after parliament ousted HabibEssid in a vote of no-confidence because of his handling of economic reforms and security.
· A junior minister in Essid's government, Chahed, 41, is an agricultural sciences specialist and academic who has taught in France and Tunisia.
· He is also part of the NidaaTounes secular party and has ties to Essebsi's family, which has led to some criticism from opposition leaders.
Nita Ambani first woman elected as member of IOC
· Nita Ambani, Founder chairperson of the Reliance Foundation, has been elected as an individual member of the International Olympic Committee (IOC) thus becoming India's first woman to join the body.
· She is the only individual member from India and her appointment at the world body is until she attains the age of 70. She was nominated in June 2016 by the IOC Executive Board, and was elected by IOC members in Rio de Janeiro on Thursday at the 129th IOC Session.
D K Gayen assumed charge of new GM of East Central Railway
· D K Gayenassumed charge of new General Manager of East Central Railway (ECR) with headquarters at Hajipur in Bihar.
· Earlier, Rajeev Mishra, GM of Eastern Railways, was holding additional charge of ECR, an ECR statement said.
· Gayen was earlier working as Chief Mechanical Engineer of South Eastern Railway at Kolkata, the statement said.
· A 1979 batch officer of Indian Railway Service for Mechanical Engineers (IRSME), he has worked on several important posts.
· ECR comprises of five divisions -- Danapur, Dhanbad, Mughalsarai, Samastipur and Sonepur.
VinodRai steps down from IDFC Bank’s board
· Former Comptroller and Auditor General (CAG) of India VinodRaihas stepped down from private sector lender IDFC Bank’s board from August 1.
· The decision is to avoid conflict of interest as Mr.Rai is also the chairman of Bank Board Bureau (BBB) which will not only select board members of public sector banks but will also devise strategies for them. However, Mr.Rai will continue to be the non-executive independent chairman of IDFC Ltd.
AWARDS AND HONORS:
Singer Shubha to Get RG Sadbhavana Award
· Singer ShubhaMudgal will be awarded the Rajiv Gandhi National Sadbhavana Award.
· She will get Award for her outstanding contribution towards the promotion of communal harmony, peace and goodwill.
· She is a well-known Indian singer of Hindustani classical music.
· The Rajiv Gandhi National Sadbhavana Award is given on the occasion of the birthday of Rajiv Gandhi.
SPORTS NEWS:
IBJA announces awards for Indian medal winners at Rio 2016 Olympics
· India Bullion and Jewellers Association (IBJA) today announced 500 gms Sovereign Gold Bonds and silver to the Indian medal winners at the Rio 2016 Olympics.
· Sovereign Gold Bonds of 500 gms will be awarded to the Gold Medal winners and 1 kg silver will be awarded to Silver Medal winners, it said in a statement. ”Olympics is known to be the biggest sports platform in the world.
· IBJA strongly believes that although the Olympic Games are about competition and winning, these tournaments are very important as they unite nations throughout the world.
IOC approves 271 Russian athletes to compete in Rio Games
· The International Olympic Committee, IOC, has approved 271 Russian athletes to compete in the Rio Games. The IOC announced its decision last night, less than 24 hours before the Olympic flame is lit.
· But, 118 Russians are still barred from competition, thus the Russians will field their smallest Olympic team since 1912. There will be no Russian track and field, rowing or weightlifting teams this year.
· The IOC opted not to ban all Russian athletes from the Rio Olympics after revelations of a wide state-backed doping programme across many sports.
6-year-old Bengaluru boy enters Guinness Record
· A six-year-old boy from Bengaluru has set a new record in limbo skating on Sunday, July 17.
· The Bengaluru boy, Om PrakashGowda smashed the previous record of 48.21 metres made in 2012, by ShreeyaRakeshDeshpande.
· All about the feat achieved by Gowda:
· To set the record, he had to skate under 35 cars in a row, covering a distance of 65 meters
· For the purpose, he had to hold his body parallel to the ground with his face just a few inches off the floor
· He had been practising for the same since the past one and a half years.
OBITUARY:
Assamese Litterateur Mahim Bora dead
· Eminent Assamese litterateur Mahim Bora died due to old age problems in a private nursing home here, his family sources said. He was 92.
· He was admitted to the nursing home on Wednesday after his health condition deteriorated at his home in Nagaon district.
· Bora was a Padma Shri and SahityaAkademi winner and is survived by a son and two daughters-in-law.
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