Current Affairs Update – 13th July, 2016

Hello and welcome to exampundit . Here are the important Current Affairs of 13th July, 2016. These are important for the upcoming SBI PO Mains and UBI PO PGDBF 2016 Exams.

Current Affairs at a Glance – 13th July, 2016

  1. State Bank of India (SBI) in the second week of July 2016 signed a
    Memorandum of Understanding (MoU) with the Indian Institute of Technology Society for Innovation
    and Entrepreneurship
    (SINE).
    The MoU was signed to promote innovation by start-ups in the financial sector. SINE
    is IIT Bombay’s technology business incubator.
  2. In a bid to expand its operation
    on the domestic front and start its international operations, Go Air — the country’s third largest low cost airline —
    on Tuesday signed a memorandum of understanding (MoU) with French aircraft
    manufacturer Airbus
    for an order of 72 A320 aircraft at the Farnborough
    International Airshow
    .
  3. Full service carrier Vistara
    and leading private sector lender Axis Bank today
    entered into a partnership to launch co-branded premium credit cards.
  4. India and Bangladesh on 12 July 2016
    signed a landmark deal for the construction of Rampal Power Station, a 1320 megawatt
    coal fired power plant. The Rampal Power Station is the biggest project under
    bilateral cooperation.
  5. Ashok Patnaik, a senior IPS
    officer, was today appointed as the CEO of NATGRID, a robust intelligence
    gathering mechanism being set up to track terror suspects and incidents.
  6. The book titled Ringside With
    Vijender
    authored by Rudraneil
    Sengupta
    released on 8 July 2016.
  7. William H McNeill, the
    prize-winning scholar who wove the stories of civilizations worldwide into the
    landmark “The Rise of the West” and helped pioneer the history of disease and
    epidemics in “Plagues and People,” has died at age 98.
Finance/Banking –
SBI inks MoU with IIT Bombay to promote fintech start-ups
  • State Bank of India (SBI) in the
    second week of July 2016 signed a Memorandum of Understanding (MoU) with the
    Indian Institute of Technology Society for Innovation and Entrepreneurship
    (SINE).
  • The MoU was signed to promote
    innovation by start-ups in the financial sector.
  • The deal also aims to help
    evaluate start-ups operating out of SINE or those being promoted by SINE for
    early stage funding within the bank’s norms.
  • SINE is IIT Bombay’s technology
    business incubator.
Key highlights of the MoU
  • Both the parties will identify
    FinTech start-ups that have products or applications to cater to the financial
    sector and can help SBI explore opportunities to enhance the synergy for their
    banking services.
  • SBI will provide a platform for
    testing/piloting such products/applications.
  • SBI will also check for any
    specific business linkages.
  • SBI will interact with the
    entrepreneurial and research community at IIT Bombay, including e- cell, Desai
    Centre, startups of SINE. The interaction will be done to get a better idea of
    the latest research being done, innovations and also conduct knowledge sessions
    for mutual benefit.
  • If SBI decides to infuse funds in
    the start­ups, SINE may help the bank do initial screening for technical
    competency, impact of innovation etc.
  • If SBI decides to infuse funds in
    any of the start-ups at SINE, the funding model will be considered on case to
    case and merit basis.
GoAir inks MoU with Airbus for 72 A320neo aircraft
  • In a bid to expand its operation
    on the domestic front and start its international operations, Go Air — the
    country’s third largest low cost airline — on Tuesday signed a memorandum of
    understanding (MoU) with French aircraft manufacturer Airbus for an order of 72
    A320 aircraft at the Farnborough International Airshow.
  • This will take the total order
    book to 144 aircraft for the airline owned by the Wadia Group.
  • The Mumbai-based airlines has an
    existing capacity of 20 aircraft and it needs only one more aircraft to make
    itself eligible for starting international operations.
  • The airline has been planning to
    start its international operations for some time now and is expected to come
    out with an Initial Public Offering (IPO) later this year. Earlier this year the
    low cost airline took the delivery of two A320 Neo aircraft.
Vistara, Axis Bank launch co-branded credit cards

  • Full service carrier Vistara and
    leading private sector lender Axis Bank today entered into a partnership to
    launch co-branded premium credit cards.
  • While Axis Bank already has a
    similar tie-up with the German carrier Lufthansa, this is first of its kind with
    a domestic carrier for it.
  • Under the partnership,the bank
    will offer three variants of contactless cards to its existing banking
    customers.
  • The cards come with an annual fee
    of Rs. 1,500, Rs. 3,000 and Rs. 10,000 for the top-end variety and are aimed at
    corporate and leisure travellers and the members get free upgrades and other
    loyalty benefits on buying tickets with this cobranded card.

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India and Bangladesh sign deal for construction of coal fired power
plant

  • India and Bangladesh on 12 July 2016
    signed a landmark deal for the construction of Rampal Power Station, a 1320
    megawatt coal fired power plant.
  • The Rampal Power Station is the
    biggest project under bilateral cooperation.
Key highlights of the agreement
  • The Bangladesh-India Friendship Power
    Company Limited (BIFPCL), the joint venture enterprise, signed the deal with
    Bharat Heavy Electricals Limited (BHEL).
  • BHEL was chosen under an open
    international tender for constructing the super thermal plant at Bangladesh’s
    southwestern Rampal near the Sundarbans.
  • India’s Exim Bank will provide
    1.49 billion US dollars for the project.
  • The project is scheduled to start
    generating power in 2019.
Appointments –
Ashok Patnaik to be new CEO of NATGRID
  • Ashok Patnaik, a senior IPS
    officer, was today appointed as the CEO of NATGRID, a robust intelligence
    gathering mechanism being set up to track terror suspects and incidents.
  • Patnaik, a 1983-batch Gujarat cadre
    officer, currently serving as Additional Director in the Intelligence Bureau,
    will be responsible for taking forward the government’s efforts to set up the
    highly sophisticated security set up, official sources said.
  • Patnaik is the son-in-law of former
    Prime Minister Manmohan Singh.
Books & Authors –
Ringside With Vijender authored by Rudraneil Sengupta released
  • The book titled Ringside With
    Vijender authored by Rudraneil Sengupta released on 8 July 2016.
  • The book, published by Juggernaut
    Books, throws light on the Beijing Olympics bronze medallist boxer Vijender
    Singh’s life post his transition to the world of pro boxing.
  • The book also deals with the
    boxer’s sudden decision to turn pro just an year ahead of the Rio Olympics. It
    also offers an insight into his struggles, changes in his boxing style,
    training and his personal life.
Obituaries –
Prize-winning world historian William H McNeill dies at 98
  • William H McNeill, the
    prize-winning scholar who wove the stories of civilizations worldwide into the
    landmark “The Rise of the West” and helped pioneer the history of disease and
    epidemics in “Plagues and People,” has died at age 98.
  • McNeill died on Friday at his
    home in Torrington, Connecticut, according to Steve Koppes, associate news
    director at the University of Chicago, where McNeill was a professor emeritus.
  • McNeill wrote more than a dozen
    books, notably “The Rise of the West,” published in 1963 and greeted by The New
    York Times as “the most stimulating and fascinating” work of world history ever
    released.

Regards

Team ExamPundit