Current Affairs Update – 14-16th May, 2016

Hello and welcome to exampundit. Here are the Important Current Affairs of 14, 15 and 16 May, 2016. These are important for the upcoming SBI PO 2016, SBI Clerk 2016 and UIIC AO 2016.

Current Affairs at a Glance – 14-16th May, 2016

  1. PayU India and Paytm have got amongst the first in-principle
    approvals for operating as a Bharat Bill Payments
    Operating Unit (BBPOU)
    , allowing them to offer interoperable bill
    payment service to consumers. Consumers will be able to pay all their bills anytime
    and anywhere under the Bharat Bill Payment System (BBPS), and the companies will
    provide platforms to offer these services.  Till now, it has given approvals to 33
    applicants including Oxigen ,
    aggregators like BillDesk and banks
    including SBI , ICICI, HDFC and others.
  2. Singaporean lender DBS Bank is creating its biggest technology hub outside of
    headquarters, in Hyderabad
    where the company plans to have over 1,500
    headcount.
  3. The board of World Bank has
    approved a $625 million loan to support the
    central government’s programme to generate electricity from rooftop solar power
    plants
    .
  4. The Union Government in the
    second week of May 2016 decided to
    replace 5-year plans with 15-year vision documents
    .
  5. Bharat Heavy Electricals Limited (BHEL) on May 14, 2016
    commissioned a 660 MW supercritical thermal unit at Mouda
    Super Thermal Power Station (STPS)
    at
    Mouda in Nagpur district of Maharashtra.
  6. The Prime Minister along with Sri
    Lankan President Maithripala Sirisena on 14 May 2016 released ‘Simhastha Declaration‘ at Ninora village
    in Ujjain.
  7. India on 15 May 2016 successfully
    test fired an indigenously developed Advanced Air Defence interceptor missile, Ashwin.
    It was launched from the complex of Abdul Kalam Island (formerly known as Wheeler
    Island) off Odisha coast.
  8. The Union Ministry of AYUSH
    and the World Health Organization (WHO)
    on 13 May 2016 signed the Project Collaboration Agreement (PCA) for cooperation
    on Global promotion of Traditional Systems of Medicine.
  9. Shell India announces Nitin Prasad as new chairman.
  10. World governing body for
    football, FIFA (International
    Federation of Association Football) on 14 May 2016 appointed Justice (retd) Mukul Mudgal as deputy chairman of its
    Governance Committee
    .
  11. Justice Navin Sinha on 14 May
    2016 was sworn-in as the new Chief Justice of the Rajasthan High Court.
  12. World No. 1 women’s doubles team
    of Sania Mirza and Martina Hingis
    on 15 May 2016 captured the Italian Open
    title
    . The pair defeated Elena Vesnina and Ekaterina Makarova 6-1,
    6(5)-7, 10-3 in the final to clinch the title.
  13. Andy Murray on 15 May 2016 won his first Italian Open Men’s
    Singles Tennis title
    . In the final played in Rome, third-ranked Murray
    defeated the top-ranked Djokovic 6-3, 6-3.
  14. Dutch teenager, Max Verstappen, on 15 May 2016 became Formula
    One’s youngest race winner after winning the Spanish Grand Prix
    . Red
    Bull’s Verstappen defeated Ferrari’s Kimi Raikkonen by 0.616 seconds.
  15. The Air Forces of India and the U.S.
    on 13 May 2016 concluded the 2016 Red Flag aerial combat exercises at Alaska in
    the U.S
    . A successor to the Cope Thunder exercise series, the
    main phase of the Red Flag exercises had commenced on 28 April 2016 with a mix
    of combat and support elements from the Indian Air Force (IAF), US Air Force
    (USAF) and US Navy (USN).

Finance/Banking/Economy –
PayU India, Paytm get in-principle approvals for Bharat Bill Payments
Operating Unit

  • PayU India and Paytm have got
    amongst the first in-principle approvals for operating as a Bharat Bill
    Payments Operating Unit (BBPOU), allowing them to offer interoperable bill
    payment service to consumers.
  • Consumers will be able to pay all
    their bills anytime and anywhere under the Bharat Bill Payment System (BBPS),
    and the companies will provide platforms to offer these services.
  • Companies with in-principle
    approvals would have to meet two conditions, including a certification from
    National Payment Corporation of India (NPCI) for adherence to BBPS standards
    and system readiness. A system audit would also have to be conducted to
    evaluate the hardware, software, critical applications and security.
  • In November 2015, RBI had granted
    in-principal approval to NPCI to function as Bharat Bill Payment Central Unit.
  • RBI had received 62 applications
    for authorisation from non-bank entities and 80 requests in all for approvals
    from banks for operating as a payment operating unit under BBPS. Till now, it
    has given approvals to 33 applicants including Oxigen , aggregators like
    BillDesk and banks including SBI , ICICI, HDFC and others.

DBS Bank to set up offshore tech hub in Hyderabad

  • Singaporean lender DBS Bank is
    creating its biggest technology hub outside of headquarters, in Hyderabad where
    the company plans to have over 1,500 headcount.
  • The foreign bank, which was among
    the first ones to apply to operate as a wholly-owned subsidiary in the country
    after drawing expansion plans, will steadily take the total number of those
    employed at the Hyderabad facility to over 1,500 in two years.
  • The hub will help in
    strengthening the lender’s technological capabilities across Asia as well as
    its digital banking strategy, it said in a statement.
  • It has created a wholly-owned
    subsidiary — DBS Asia Hub 2 — for this purpose and according to a filing with
    the exchanges, the initial and paid-up capital for the same stands at Rs 70.5
    crore.

World Bank approves $625 m loan to support rooftop solar programme in
India

  • The board of World Bank has
    approved a $625 million loan to support the central government’s programme to
    generate electricity from rooftop solar power plants.
  • The board also approved a
    co-financing loan of $120 million on concessional terms and a $5 million grant
    from the Climate Investment Fund’s Clean Technology Fund, the global
    development bank said in a statement on Monday.
  • The statement added that the sanctions
    will help finance installation of at least 400 MW of grid connected rooftop
    solar photovoltaic projects across India.
  • State Bank of India will on-lend
    funds to solar photovoltaic developers and end-users who wish to invest in
    mainly commercial and industrial rooftop solar power systems. The financing
    will be provided to those with sound technical capacity, relevant experience
    and creditworthiness as per State Bank of India’s standards.

AirAsia India hits 2.5 million passenger milestone

  • AirAsia India has flown 2.5
    million passengers as of today, the airline said.
  • AirAsia India reached its 1
    million passengers milestone in August 2015 and in a little more than six
    months, the number of passengers flown by it has grown to 2.5 million, it said.
  • To celebrate this occasion,
    AirAsia India is offering 50 per cent off on return fares for 50 hours across
    the AirAsia Group network.
  • The 50 per cent off is also valid
    on international destinations such as Kuala Lumpur, Bangkok, Bali, Phuket,
    Singapore, Melbourne, Auckland and many more connected by the Group airlines,
    AirAsia Berhad (Flight code AK), AirAsia X (Flight code D7) and Thai AirAsia
    (Flight code FD).

NITI Aayog to prepare 15-year vision documents by replacing 5-year
plans

  • The Union Government in the
    second week of May 2016 decided to replace 5-year plans with 15-year vision
    documents.
  • The long-term perspective plans
    will be prepared by the National Institution for Transforming India (NITI)
    Aayog beginning from 2017-18 financial year.

Features of 15-year vision document
  • Unlike the earlier 5-year plans,
    the new document will also cover subjects like internal security and defence.
  • The previous twelve 5-year plan
    documents, for the period between 1951 and 2017, focused on social and economic
    infrastructure like health, connectivity and education.
  • The decision to bring internal
    security and defence in the ambit of the vision document is in tune with the
    government’s announcement to done away with plan and non-plan expenditure from
    2017-18.
  • The initial vision document will
    be co-terminus with the United Nations Sustainable Development Agenda
    (2016-2030) to which India is a signatory.

BHEL commissions 660 MW supercritical thermal plant in Nagpur
  • Bharat Heavy Electricals Limited
    (BHEL) on May 14, 2016 commissioned a 660 MW supercritical thermal unit at
    Mouda Super Thermal Power Station (STPS) at Mouda in Nagpur district of
    Maharashtra. The order for setting up two coal-based thermal units of 660 MW was
    placed with BHEL by NTPC Ltd.
  • While the first unit has been
    commissioned, work on the other 660 MW unit is also in an advanced stage.
    Notably, BHEL has earlier set up two units of 500 MW each at Mouda STPS, which
    are in operation.
  • In the supercritical segment,
    BHEL has successfully demonstrated its leadership status and technological
    capability in the manufacture and execution of 660 MW, 700 MW and 800 MW sets.
    Notably, the unit, commissioned by BHEL at Mouda, is the first to be
    commissioned out of the 11 units ordered under bulk tendering to different
    manufacturers.

India –
Modi, Maithripala Sirisena released ‘Simhastha Declaration’ in Ujjain

  • The Prime Minister along with Sri
    Lankan President Maithripala Sirisena on 14 May 2016 released ‘Simhastha
    Declaration’ at Ninora village in Ujjain.
  • Both leaders addressed the
    concluding session of the 3 day International Vichar Mahakumbh for the
    month-long Simhastha Mela. Sri Lankan President Sirisena was on a two day visit
    to India from 13 May to 15 May 2016.
  • 51 sacred points have been
    included in this declaration for betterment of mankind and these elixir points
    will start new discourse for India and the world.

Highlights of the Declaration
  • The declaration is a prescription
    on how a duty-centered system that had been the origin of Indian philosophy of
    life is relevant in today’s India.
  • Saints and seers, scholars and
    subject experts from the country and abroad discussed on various issues in the sessions
    of ‘Vichar Mahakumbh’.

India successfully test fires indigenous Advanced Air Defence
interceptor missile, Ashwin

  • India on 15 May 2016 successfully
    test fired an indigenously developed Advanced Air Defence interceptor missile,
    Ashwin. It was launched from the complex of Abdul Kalam Island (formerly known
    as Wheeler Island) off Odisha coast.
  • The advanced version of low
    altitude supersonic ballistic interceptor missile was fired at a ballistic
    missile, a modified version of Prithvi weapon system. It was test fired to
    validate various parameters of the interceptor in flight mode.

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India, WHO signed agreement for Global promotion of Traditional Systems
of Medicine

  • The Union Ministry of AYUSH and
    the World Health Organization (WHO) on 13 May 2016 signed the Project
    Collaboration Agreement (PCA) for cooperation on Global promotion of
    Traditional Systems of Medicine.
  • The agreement was signed by Ajit
    M Sharan, Secretary of Union Ministry of AYUSH and, Dr Marie Kieny, Assistant
    Director General of Health Systems and Innovations at WHO in Geneva.

Highlights of the Agreement
  • The PCA is titled as Co-operation
    on promoting the quality, safety and effectiveness of service provision in
    traditional and complementary medicine between WHO and AYUSH, India, 2016-2020.
  • It aims at promoting the quality,
    safety and effectiveness of service provision in traditional and complementary
    medicine.

Parkash Singh panel submits report on Jat quota Agitation
  • Parkash Singh committee
    constituted to inquire into the omission and commission on part of all officers
    and officials of police and civil administration during Jat Quota agitation
    submitted its report to Haryana Chief Minister Manohar Lal Khattar. The report
    was submitted on 13 May 2016.
  • The panel submitted its report in
    two volumes which run into about 450 pages, of which the Main Report is in
    about 200 pages and another 200 pages is of Annexures. While the, second volume
    of only about 40 pages, deals with the role of Intelligence in the context of
    the riots.
  • After receiving the report, Chief
    Minister said that government would examine the report and would take
    appropriate action accordingly.

Appointments –
Shell India announces Nitin Prasad as new chairman

  • Yasmine Hilton , currently
    chairman of Shell Companies in India, will end her assignment on 30 September
    2016, after 37 years with Shell.
  • Nitin Prasad , country head of
    Shell Lubricants , will succeed Hilton effective 1 October 2016.
  • Prasad is an electrical engineer
    from Georgia Institute of Technology, USA and a management graduate from
    INSEAD. He took up his current appointment in 2011 as general manager, Shell
    Lubricants, in the third largest lubricants market in the world.
  • His previous roles in Shell
    include chemicals where he was general manager APME supply chain, and senior advisor
    on downstream strategy.

FIFA appoints Justice Mukul Mudgal as Deputy Chairman of its Governance
Committee

  • World governing body for
    football, FIFA (International Federation of Association Football) on 14 May
    2016 appointed Justice (retd) Mukul Mudgal as deputy chairman of its Governance
    Committee.
  • Portuguese Luis Miguel Maduro,
    Advocate General of European Court of Justice (ECJ), was appointed as the
    Chairman of the Governance Committee.
  • Justice Mudgal was also appointed
    as the head of the FIFA’s first Independent Review Committee along with Luis
    Miguel Maduro.

Justice Navin Sinha sworn in as Chief Justice of Rajasthan High Court

  • Justice Navin Sinha on 14 May
    2016 was sworn-in as the new Chief Justice of the Rajasthan High Court.
  • Governor Kalyan Singh
    administered the oath to the new Chief Justice of the state High Court.
  • Sinha was appointed by President
    Pranab Mukherjee as per provisions Article 222 of Constitution after following
    recommendation of the Supreme Court collegium headed by Chief Justice of India
    (CJI) T.S. Thakur.

Sports –
Indian women win silver medal at 18th Asian Team squash Championships
2016

  • Indian women’s squash team on 15
    May 2016 won the silver medal at the 18th Asian Team squash championships. In
    the final played at Taipei in Chinese Taipei, Indian team lost to the Malaysian
    team by 0-2 margin.
  • This was the ninth women’s Asian
    Team Squash Championships title for the Malaysian team.
  • In the first match, India’s
    Sachika Ingale lost in straight games 7-11, 6-11, 10-12 to Malaysian
    Sivasangari Subramaniam. Later, Delia Arnold of Malaysia defeated India’s top
    player Joshna Chinappa 9-11, 13-11, 11-8, 11-9.

Sania Mirza and Martina Hingis clinch 2016 Italian Open title

  • World No. 1 women’s doubles team
    of Sania Mirza and Martina Hingis on 15 May 2016 captured the Italian Open
    title. The pair defeated Elena Vesnina and Ekaterina Makarova 6-1, 6(5)-7, 10-3
    in the final to clinch the title.
  • The Italian Open women’s doubles
    title was the fifth title for the Indo-Swiss pair after Sydney, Brisbane,
    Australian Open and St Petersburg.
  • With the win, Mirza and Hingis
    also captured their 14th women’s doubles title together.

Andy Murray beats Novak Djokovic to win first Italian Open title

  • Andy Murray on 15 May 2016 won
    his first Italian Open Men’s Singles Tennis title. In the final played in Rome,
    third-ranked Murray defeated the top-ranked Djokovic 6-3, 6-3.
  • It is Murray’s first title in
    Rome and it comes exactly a week before the French Open begins on 22 May 2016.
  • The only other British man to win
    the tournament was George Patrick Hughes in 1931. He is also the first British
    singles champion in Italy since Virginia Wade won the title in 1971.
  • On the other hand, Serena
    Williams ended a nine-month title drought with a 7-6, 6-3 win over Madison Keys
    in an all American women’s Singles final.

Dutchman Max Verstappen became youngest winner of F1 at Spanish Grand
Prix

  • Dutch teenager, Max Verstappen,
    on 15 May 2016 became Formula One’s youngest race winner after winning the
    Spanish Grand Prix. Red Bull’s Verstappen defeated Ferrari’s Kimi Raikkonen by
    0.616 seconds.
  • His teammate Sebastian Vettel
    stood at the third position.
  • Verstappen drove to triumph
    after, Mercedes drivers Lewis Hamilton and Nico Rosberg crashed out in the
    first lap of the race.
  • At 18 years and 228 days, Max
    Verstappen is the youngest race winner in F1 history. The Dutchman was two
    years and 210 days younger than the previous youngest winner, Sebastian Vettel.

World –
Indian short film ‘Beti’ to be screened at Seattle International Film
Festival

  • Beti, a four minute documentary
    film on girl child education from India, has been invited for special screening
    at the 42nd Seattle International Film Festival (SIFF), Washington DC.
  • Beti is the only short film from
    India to be featured amongst 421 films representing 85 countries and will be
    screened on 30 May 2016, which is Seattle Memorial Day at the SIFF.

2016 Red Flag Aerial combat exercises conclude in Alaska

  • The Air Forces of India and the
    U.S. on 13 May 2016 concluded the 2016 Red Flag aerial combat exercises at
    Alaska in the U.S.
  • A successor to the Cope Thunder
    exercise series, the main phase of the Red Flag exercises had commenced on 28
    April 2016 with a mix of combat and support elements from the Indian Air Force
    (IAF), US Air Force (USAF) and US Navy (USN).
  • The four-week long aerial combat
    exercises were held at the Eielson Air Force Base in Alaska, United States of
    America. This was the second time India had participated in such an exercise
    after 2008.

Regards

Team ExamPundit