Current Affairs Update – 14th July, 2016

Hello and welcome to exampundit . Here are the important Current Affairs of 14th July, 2016. These are important for the upcoming SBI PO Mains & UBI PO PGDBF Exams 2016.

Current Affairs at a Glance – 14th July, 2016

  1. The Union Cabinet on 13 July 2016
    approved the Pradhan
    Mantri Kaushal Vikas Yojana (PMKVY)
    with
    an outlay of 12000 crore rupees to impart skilling to one crore people over the
    next four years (2016-2020).
  2. The Government of India and the Asian
    Development Bank (ADB)
    today signed
    a $100 million loan agreement
    to strengthen key irrigation and drainage
    system and improve water management in the Vennar sub-basin of the Cauvery delta in Tamil Nadu.
  3. Union Government on 12 July 2016 constituted
    a high-level committee to review the minimum support price (MSP) and bonus for
    pulses
    . The committee will be headed by Chief Economic Adviser Arvind Subramanian.
  4. The Union Government on 12 July
    2016 notified the Aadhaar (Targeted Delivery of Financial and Other
    Subsidies, Benefits and Services) Act, 2016
    .
  5. The Cabinet Committee on Economic
    Affairs (CCEA) on 13 July 2016 approved the disinvestment of 15% paid up equity of
    National Buildings Construction Corporation Limited (NBCC)
    . At
    present, Union Government holds 90 percent shareholding of the corporation (i.e.
    54 crore share).
  6. Queen Elizabeth-II appointed Theresa May as the 76th Prime Minister of the United Kingdom (UK) on 13 June 2016.
    She was appointed as prime minister following her election as the leader of
    Britain’s ruling Conservative Party.
  7. Vistara has appointed Ravinder Pal Singh its chief information officer,
    who will be in charge of the full-service carrier’s IT as well as innovation
    functions.
  8. Union Government on 13 July 2016
    started the operation ‘Sankat Mochan‘ to evacuate its citizens
    stranded in South Sudan’s capital Juba. Two C-17 military transport aircrafts
    have been pressed in service to make the evacuation.
  9. Hockey Olympian Joe Antic
    passed away on 12 July 2016 in Mumbai. He was 90.
Finance/Banking –
Union Cabinet approves Pradhan Mantri Kaushal Vikas Yojana
  • The Union Cabinet on 13 July 2016
    approved the Pradhan Mantri Kaushal Vikas Yojana (PMKVY) with an outlay of
    12000 crore rupees to impart skilling to one crore people over the next four
    years (2016-2020).
  • PMKVY will impart fresh training
    to 60 lakh youths and certify skills of 40 lakh persons acquired non-formally
    under the Recognition of Prior Learning (RPL). The target allocation between
    fresh trainings and RPL will be flexible and interchangeable depending on
    functional and operational requirements.
Highlights of the Pradhan Mantri Kaushal Vikas Yojana (PMKVY)
  • It will move to a grant based
    model where the training and assessment cost would be directly reimbursed to
    training providers and assessment bodies in accordance with the Common Norms.
  • Financial support to trainees
    will be given in the form of travel allowance, boarding and lodging costs.
  • Post placement support would be
    given directly to the beneficiaries through Direct Benefit Transfer (DBT).
  • Disbursement of training cost to
    training partners will be linked to Aadhaar and biometrics for better
    transparency and targeting.
  • Skill training would be done
    based on industry led standards aligned to the National Skill Qualification
    Framework (NSQF).
  • Mobilisation, monitoring and post
    training placement of trainees will be done through Rozgar Melas (placement
    camps) and Kaushal Shivirs (mobilization camps).
  • There will be special focus on
    placement of trainees with incentives/disincentives linked to placement as
    envisaged in the Common Norms.
  • It will also cater to domestic
    skill needs, also focus on skill training aligned to international standards
    for overseas employment in Gulf countries, Europe and other overseas
    destinations.
  • There will be scholarship for
    student undergoing training in high end job roles under the Scheme.
GoI and ADB sign $100 mn loan to tackle climate threats at Cauvery
delta
  • The Government of India and the
    Asian Development Bank (ADB) today signed a $100 million loan agreement to
    strengthen key irrigation and drainage system and improve water management in
    the Vennar sub-basin of the Cauvery delta in Tamil Nadu.
  • The financing will be used to
    strengthen embankments of six major irrigation water channels at the Vennar
    system and rehabilitate 13 irrigation pumping schemes.
  • A separate project agreement was
    signed by V Shanmugam, Chief Engineer, Water Resources Department, on behalf of
    the State of Tamil Nadu.
  • The loan from ADB’s ordinary
    capital resources has a 25-year term. The Water Resources Department of the
    state of Tamil Nadu is responsible for implementing the project, which is
    expected to be completed by December 2020.
Arvind Subramanian panel constituted to tackle pulses shortage
  • Union Government on 12 July 2016
    constituted a high-level committee to review the minimum support price (MSP)
    and bonus for pulses.
  • The committee will be headed by
    Chief Economic Adviser Arvind Subramanian. It has been asked to submit its
    report within two weeks.
Cause of action of the panel
  • It will look into various options
    to frame a long-term policy on pulses to tackle shortage.
  • It will suggest an appropriate
    policy to promote cultivation of lentils in India.
  • It will find the measure to
    contain the rising prices of pulses in the country.
Union Government notifies Aadhaar (Targeted Delivery of Financial and
Other Subsidies, Benefits and
Services)
Act, 2016
  • The Union Government on 12 July
    2016 notified the Aadhaar (Targeted Delivery of Financial and Other Subsidies,
    Benefits and Services) Act, 2016.
  • The government also
    operationalised some of provisions of the Act, giving a legal shape to UIDAI.
  • The bill seeks to provide for
    targeted delivery of subsidies and services to individuals residing in India by
    assigning them unique identity numbers, called Aadhaar numbers.
  • Besides, the Union Government has
    also separately notified the UIDAI (Terms and Conditions of Service of
    Chairperson and Members) Rules, 2016. The Act will pave the way for appointment
    of its chairperson and members.
Features of the Aadhaar Bill, 2016
  • Eligibility: Every resident shall be entitled to obtain an Aadhaar
    number.  A resident is a person who has
    resided in India for 182 days, in the one year preceding the date of
    application for enrolment for Aadhaar.
  • Information to be submitted: To obtain an Aadhaar number, an
    individual has to submit his (a) biometric (photograph, finger print, iris
    scan) and (b) demographic (name, date of birth, address) information.  The Unique Identification Authority (UID) may
    specify other biometric and demographic information to be collected by
    regulations.
  • Enrolment: At the time of enrolment, the individual will be
    informed of the manner in which the information will be used, the nature of
    recipients with whom the information will be shared and the right to access
    this information.
After verification of information
provided by a person, an Aadhaar number will be issued to him.
Union Cabinet approves disinvestment of 15% in NBCC
  • The Cabinet Committee on Economic
    Affairs (CCEA) on 13 July 2016 approved the disinvestment of 15% paid up equity
    of National Buildings Construction Corporation Limited (NBCC). At present,
    Union Government holds 90 percent shareholding of the corporation (i.e. 54
    crore share).
  • This disinvestment would help the
    government to earn about 1706 crore rupees.
  • However, the actual realization
    amount will depend upon the market conditions and the investor interest
    prevailing at the time of actual disinvestment.
  • Besides, in order to inculcate a
    sense of belongingness amongst the employees of NBCC, it has also been decided
    to allot additional shares to the eligible and willing employees at a discount
    of 5% to the Issue/discovered (lowest cut-off) price of the OFS.
Union Cabinet approves revival of defunct Fertilizer Units in
Gorakhpur, Sindri and Barauni
  • The Union Cabinet on 13 July 2016
    approved the revival of defunct Fertilizer Units in Gorakhpur, Sindri and
    Barauni.
The units to be revived includes
  • Sindri (Jharkhand) and Gorakhpur
    (Uttar Pradesh) of Fertilizer Corporation India Limited (FCIL)
  • Barauni (Bihar) unit of Hindustan
    Fertilizers Corporation Limited (HFCL)

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Appointments –
Theresa May appointed Prime Minister of United Kingdom

  • Queen Elizabeth-II appointed
    Theresa May as the 76th Prime Minister of the United Kingdom (UK) on 13 June
    2016. She was appointed as prime minister following her election as the leader
    of Britain’s ruling Conservative Party.
  • With this appointment, she became
    the second women to assume the office of Prime Minister of the UK. The first
    women prime minister was Margaret Thatcher who was in the office of PM from
    1979 to 1990.
  • She succeeded David Cameron who
    resigned from the post on the same day following Brexit vote. Cameron tendered
    his resignation to the Queen. Britons on 22 June 2016 voted to exit the
    European Union.
India-born Kinshuk appointed as Dean of University of North Texas
College of Information
  • An Indian-American professor Dr
    Kinshuk was on 12 July 2016 appointed as the Dean of University of North Texas
    College of Information in the United States with effect from 15 August 2016.
  • Kinshuk has a diverse set of
    academic experience in the field of science and technology.
Vistara names Ravinder Pal Singh as CIO
  • Vistara has appointed Ravinder
    Pal Singh its chief information officer, who will be in charge of the
    full-service carrier’s IT as well as innovation functions.
  • He would consolidate, identify,
    acquire, evaluate and incubate the right technology to support the airline’s IT
    and digital platforms, the airline said in a release on Thursday.
  • Vistara — a joint venture between
    the Tatas and Singapore Airlines — has a fleet of 11 aircraft.
India –
Operation ‘Sankat Mochan’ launched to evacuate Indian citizens from
South Sudan
  • Union Government on 13 July 2016
    started the operation ‘Sankat Mochan’ to evacuate its citizens stranded in
    South Sudan’s capital Juba. Two C-17 military transport aircrafts have been
    pressed in service to make the evacuation.
  • The operation being undertaken by
    Indian Air Force (IAF) will be headed by Minister of State for External Affairs
    General (Retd.) VK Singh.
  • The Indian Ambassador in South
    Sudan Srikumar Menon and his team is organising this operation on the ground.
    Indian Embassy in Juba in an advisory had communicated that all the stranded
    Indian citizens should get in touch immediately with the embassy to avail the
    facility.
Obituaries –
India’s Olympic Silver Medalist Joe Antic passed away
  • Hockey Olympian Joe Antic passed
    away on 12 July 2016 in Mumbai. He was 90.
  • Antic represented the country in
    the Rome Games where Pakistan won the final between the arch-foes 1-0.
  • The hockey player was also a part
    of the hockey squad that finished runner-up, again to Pakistan, in the Asian
    Games at Jakarta.

Regards

Team ExamPundit