Current Affairs Update – 19th July, 2016

Hello and welcome to exampundit . Here are the important Current Affairs for 19th July, 2016. These are important for the upcoming SBI PO Mains and UBI PO PGDBF 2016 Exams.
Current Affairs at a Glance – 19th July, 2016
  1. The government on Tuesday provided Rs. 22,915 crore capital to 13 PSU banks
    including SBI, PNB and IOB to enhance their lending operations
    and
    enable them to raise more money from the market.
  2. The
    Indian government
    signed a
    three-point bilateral agreement with the US government aiming
    to harness new technologies in the hydrocarbon sector.
  3. India’s first e-court was opened at High
    Court of Judicature at Hyderabad
    on 17 July 2016. It was inaugurated
    by Supreme Court judge Justice Madan B Lokur who heads the e-Committee of the
    Supreme Court.
  4. American Ports have evinced a keen interest in comprehensive
    port-led development, especially the ambitious Sagarmala programme, Indian
    officials said as the Union Road Transport and Highways Minister Nitin Gadkari
    concluded his week-long trip here.
  5. The Netherlands and Uttar Pradesh on 14 July 2016 signed a Memorandum of
    Understanding (MoU) to set up a skill development centre to help farmers.
  6. The Central Board of Direct Taxes (CBDT) on 18 July 2016 signed seven Unilateral Advance
    Pricing Agreements (APAs) with Indian taxpayers. Some of the agreements also
    have a Rollback
    provision as well
    .
  7. World Bank Group
    on 18 July 2016 appointed
    Paul Romer as World Bank Chief Economist

    with effect from September 2016. Romer is a widely respected economist
    and a successful entrepreneur.
  8. Abdul Wahid Tanveer of Team TVS on 17 July 2016 clinched the 2016 MRF MoGrip
    FMSCI National Rally Championship for two-wheelers, as he extended his run to
    the fourth round at the MRF Rally of Coimbatore in the six-round competition.
  9. The World Health Organisation on 18 July 2016 released a report of 2015
    Non-communicable Diseases (NCD) Global Survey
    .
Finance/Banking/Industry –
Govt infuses Rs 22,915 cr capital into 13 PSU banks
  • The government on Tuesday
    provided Rs. 22,915 crore capital to 13 PSU banks including SBI, PNB and IOB to
    enhance their lending operations and enable them to raise more money from the
    market.
  • This is the first tranche of
    capital infusion for the fiscal and more funds would be provided in future
    depending upon the performance of PSU banks, a Finance Ministry statement said.
  • Out of the Rs. 22,915 crore,
    State Bank of India (SBI) received Rs. 7,575 crore followed by Indian Overseas
    Bank (Rs. 3,101 crore) and Punjab National Bank (Rs. 2,816 crore).
  • The other lenders, which have
    received capital infusion are Bank of India (Rs. 1,784 crore), Central Bank of
    India (Rs. 1,729 crore), Syndicate Bank (Rs. 1,034 crore), UCO Bank (Rs. 1,033
    crore), Canara Bank (Rs. 997 crore), United Bank of India (Rs. 810 crore),
    Union Bank of India (Rs. 721 crore), Corporation Bank (Rs. 677 crore), Dena
    Bank (Rs. 594 crore) and Allahabad Bank (Rs. 44 crore).
  • The capital infusion exercise for
    the current fiscal is based on an assessment of need as assessed from the
    compounded annual growth rate (CAGR) of credit growth for the last five years,
    banks’ own projections of credit growth and an objective assessment of the
    potential for growth of each PSBs, the Ministry said.
India, US sign bilateral agreement for hydrocarbon sector
  • The Indian government signed a
    three-point bilateral agreement with the US government aiming to harness new
    technologies in the hydrocarbon sector.
  • The agreement was signed between
    Oil Minister Dharmendra Pradhan and US Secretary of Energy Dr Ernest Moniz in
    Washington.
  • The two countries agreed to
    enhance institutional and technical cooperation in specific areas such as
    assessment and unconventional hydrocarbon reserves in India both onshore and
    offshore; new technologies in development of second generation bio-fuel and development
    of petroleum storage.
  • The bilateral energy co-operation
    between India and US started in the form of energy dialogue in 2005 under which
    oil and gas. As part of the bilateral arrangements, Indian companies have also
    invested in shale oil and gas projects in the US, i.e. GAIL has 20% equity in
    Eagle Ford basin; IOC and OIL have 10% equity in Niobrara basin. GAIL already
    has signed contract for annual import of close to 5.8 MMT LNG from US by next
    year.
India, US agree to enhance cooperation in maritime sector
  • American Ports have evinced a
    keen interest in comprehensive port-led development, especially the ambitious
    Sagarmala programme, Indian officials said as the Union Road Transport and
    Highways Minister Nitin Gadkari concluded his week-long trip here.
  • Gadkari had a tour of the Port of
    Long Beach.
  • During his meeting with
    officials, Gadkari explored joint-venture opportunities with India’s flagship
    container handling Jawaharlal Nehru Port to promote transfer of technology and
    enhance bilateral commerce.
  • The Union minister offered
    investment opportunities in building and developing new ports, construction of
    new berths and terminals in existing ports, coastal economic zones, dredging,
    ship building, ship repairing, ship recycling, development of inland waterways
    and coastal and cruise shipping, he said.
  • The Sagarmala programme, with 150
    projects, has the potential of mobilising $50-60 Billion of infrastructure
    investment and another $100 Billion of promoting industrial growth.
Netherlands-UP signs agreement for setting up skill development centre
for farmers
  • The Netherlands and Uttar Pradesh
    on 14 July 2016 signed a Memorandum of Understanding (MoU) to set up a skill
    development centre to help farmers.
  • The MoU would ensure that farmers
    get information on food processing as well as along with use of modern
    techniques to boost production of sugarcane, potato, dairy development and
    flowers.
  • Besides, the Dutch government
    would also help in cleaning the Yamuna in Agra and in sewage treatment. Under
    this agreement, it would assist the state in solid waste management, urban
    development and infrastructure. It will also assist the state in water
    management, water supply, and cleanliness of water resources, sewage treatment,
    transport management and revival of water bodies.
  • Other than this, the Netherlands
    would also help in land reclamation of 1500 acres in the Ganga basin in Kanpur
    and development of cultural heritage.
  • As per official release, the MoU
    will remain operational for the next three years.
CBDT signs seven Unilateral Advance Pricing Agreements with Indian
taxpayers
  • The Central Board of Direct Taxes
    (CBDT) on 18 July 2016 signed seven Unilateral Advance Pricing Agreements
    (APAs) with Indian taxpayers. Some of the agreements also have a Rollback
    provision as well.
  • The 7 APAs pertain to various
    sectors of economy like banking, Information Technology and Automotives. The
    international transactions covered in these agreements include software
    development Services, IT enabled Services, Engineering Design Services &
    Business Support Services.
Softbank to acquire ARM Holdings for $32 billion
  • Japan’s Softbank on 18 July 2016
    agreed to acquire ARM Holdings, the U.K. based semiconductor firm, in a deal
    worth more than 32 billion US dollar.
  • As part of its bid to bolster its
    presence in the growing internet of things (IoT) sector, Softbank will pay
    about 22.50 US dollar per share for ARM.
  • The deal is the first major
    cross-border transaction in Britain since it voted to exit the European Union
    in June 2016.
India –
India’s first e-court opened at Hyderabad High Court
  • India’s first e-court was opened
    at High Court of Judicature at Hyderabad on 17 July 2016. It was inaugurated by
    Supreme Court judge Justice Madan B Lokur who heads the e-Committee of the
    Supreme Court.
  • Hyderabad High Court is the
    common high court for the states of Andhra Pradesh and Telangana.

Highlights of the e-court
  • The purpose of e-court is to
    ensure speedy justice for the litigants.
  • The e-Courts will ensure easy and
    better access to justice for public.
  • It will also provide solution for
    large number of pending cases in the country.
  • It will also make the work of
    judges, advocates and all those related with judiciary a lot more effective.

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Appointments –
World Bank Group appoints Paul Romer as Chief Economist

  • World Bank Group on 18 July 2016
    appointed Paul Romer as World Bank Chief Economist with effect from September
    2016. Romer is a widely respected economist and a successful entrepreneur.
  • Romer will join the Bank at a
    critical time when the field of development is transforming under the forces of
    rapid technological change, globalization, and demography.
  • As Chief Economist, Romer will
    support the President and the senior management in leading the institution and
    inspiring the development profession during this time of transformative change.
Malcolm Turnbull sworn in as Australia’s PM for another term
  • Malcolm Turnbull on 19 July 2016
    was sworn in as the Prime Minister of Australia for another term.
  • Turnbull was sworn in after a
    narrow election victory with budget repair and a public vote on same sex
    marriage among his top priorities.
Sports –
Abdul Wahid Tanveer wins 2W MRF Rally of Coimbatore
  • Abdul Wahid Tanveer of Team TVS
    on 17 July 2016 clinched the 2016 MRF MoGrip FMSCI National Rally Championship
    for two-wheelers, as he extended his run to the fourth round at the MRF Rally
    of Coimbatore in the six-round competition.
  • Bengaluru-based Wahid, riding a
    TVS RTR 450, clocked 1 hour 02 min, 13 seconds to complete the challenging
    Special Stages set around the wind farms near the Kethanur (Palladam) area.
  • The total distance of the route
    was approximately 145 km and total distance of the special stages was about 70
    km.
Reports –
WHO releases report of 2015 Non-communicable Diseases Global Survey
  • The World Health Organisation on
    18 July 2016 released a report of 2015 Non-communicable Diseases (NCD) Global
    Survey.
  • The report highlights the need to
    intensify national action to meet the global targets governments have agreed to
    protect people from heart disease, cancers, diabetes, and lung diseases.
  • However, the global survey titled
    Assessing national capacity for the prevention and control of noncommunicable
    diseases shows that some countries are making remarkable progress.
  • The Sustainable Development Goals
    agenda includes a target to reduce premature deaths from NCDs by 30 per cent by
    2030.
  • Trends in national capacity for
    NCDs were derived from comparing the results of the 2015 survey with those from
    the capacity surveys conducted in 2013 and 2010.
Key findings of the survey
  • Globally, four NCDs, which are
    cardiovascular diseases, cancer, diabetes and chronic respiratory diseases,
    represent the largest cause of death in people aged under 70 years.
  • In all, 91% of countries (177)
    responded to the survey.
  • Only 23% of countries reported
    having a dedicated office, department, or administrative division within the
    ministry of health exclusively dedicated to NCD surveillance.
Key findings of the report in regard to India
  • Cancer, diabetes and heart
    diseases account for 55% of the premature mortality in India in the age group
    of 30-69 years.
  • India is the first country to
    develop specific national targets and indicators aimed at reducing the number
    of premature deaths from NCDs by 25% by 2025.
Obituaries –
Legendary singer Mubarak Begum passes away in Mumbai
  • Legendary singer Mubarak Begum
    died at her residence in Mumbai on 18 July 2016 after a prolonged illness. She
    was 80.
  • She is remembered for singing
    scores of songs, duets and ghazals for Bollywood, mainly during the
    1950s-1970s.

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