Current Affairs Update – 20th February, 2016

Hello and welcome to ExamPundit. Here are the Important Current Affairs of 20th February, 2016. These are Important for the upcoming Bank and Insurance Exams.


Current Affairs at a Glance – 20th February, 2016

  1. India and Nepal on Saturday inked seven memorandums of understanding
    (MoU)s.
    The MoUs were signed in the presence of Nepal Prime Minister K.P.
    Sharma Oli, who is on his first visit abroad after assuming office in October
    last year.
  2. The Odisha Government today launched Pucca Ghar Yojana for construction
    workers.
  3. The first phase of Kerala’s dream SmartCity project, including a Rs
    400-crore 6.5 lakh sq ft IT tower overlooking a 300 metre waterfront area, was inaugurated by Chief Minister Oommen
    Chandy
    and other dignitaries today.
  4. Distinguished scientist KN Vyas on Friday was appointed Director of Bhabha Atomic Research Centre (BARC), the
    country’s premier multi-disciplinary nuclear research centre.
  5. Christine Lagarde, who steered the IMF through some troubled times including the Eupropean financial
    crisis, has been re-appointed as its
    Managing Director
    for a second five-year term after an uncontested election.
  6. Standard Chartered Securities India today announced the appointment of capital markets veteran
    Nitin Kapadia as its head and executive director
    .
  7. A US investigative body has decided to go ahead with its anti-dumping investigations into a
    certain category of tyres imported from India and Sri Lanka
    that may have a
    damaging effect on the US domestic industry even as it let China off the hook.
  8. Bollywood lyricist Sameer Anjaan on 17 February 2016 was officially recognised by Guinness World
    Records as the Most prolific Bollywood lyricist ever
    who has composed 3524
    different songs as of 15 December 2015.

India –
India, Nepal ink seven MoUs spanning health, education and cultural
heritage

  • India and Nepal on Saturday inked
    seven memorandums of understanding (MoU)s. The MoUs were signed in the presence
    of Nepal Prime Minister K.P. Sharma Oli, who is on his first visit abroad after
    assuming office in October last year.

About the MoUs
  1. An MoU on utilization of USD 250
    million Grant component of GOI’s Assistance package for post-earthquake
    reconstruction assistance was signed the two countries.
  2. The second MoU was strengthening
    of road infrastructure in the Terai area of Nepal.
  3. The third MoU was signed between
    Nepal Academy of Music and Drama and Sangeet Natak Academy, India which aims to
    enhance relations between India and Nepal in the field of performing arts
    through exchanges of experts, exponents, dancers, scholars and intellectuals.
  4. Then there were two letters of
    exchange on Transit Routes, one on transit between Nepal and Bangladesh through
    Kakarbitta-Banglabandh corridor and the second on operationalization of
    Vishakhapatnam Port.
  5. There was also letters of
    exchange on Rail Transport, one on rail transport to/from Vishakhapatnam and
    the second on rail transit facility through Singhabad for Nepal’s Trade with
    and through Bangladesh.
  6. The sixth MoU, which was the
    inauguration of Muzaffarpur-Dhalkebar transmission line was done by both Prime
    Minister Narendra Modi and his Nepalese counterpart.
  7. The seventh agreement was the
    establishment of Eminent Persons Group which was decided to be established at
    the third meeting of the India- Nepal Joint Commission held at Kathmandu in
    July 2014.

Odisha Government launched Pucca Ghar Yojana for Construction Workers

  • The Odisha Government today
    launched Pucca Ghar Yojana for construction workers.
  • Launching the scheme, chief
    minister Naveen Patnaik announced that pucca houses will be built for 50,000
    construction workers during the current financial year with a cost of `500
    crore.
  • A construction worker, registered
    with the Odisha Buildings and Construction Workers’ Welfare Board, for the
    three years can avail the benefit, he said.
  • The chief minister said that out
    of the 12.6 lakh registered construction workers in the state, 2.5 lakh have
    received assistance of `90 crore from the state government. He said that the
    state government will provide assistance of `10 crore to over 25,000 registered
    construction workers during the year.
  • The chief minister said memoranda
    of understanding (MoU) have been signed with Odia Workers’ Associations at
    Visakhapatnam, Bengaluru and Chennai for the welfare of the construction
    workers from the state.

First phase of Kerala’s smart city project inaugurated
  • The first phase of Kerala’s dream
    SmartCity project, including a Rs 400-crore 6.5 lakh sq ft IT tower overlooking
    a 300 metre waterfront area, was inaugurated by Chief Minister Oommen Chandy and
    other dignitaries here today.
  • The project is a joint venture of
    Dubai Holding and the state government.
  • Besides Chandy, Union Minister
    for Skill Development, Rajiv Pratap Rudy, UAE Minister of Cabinet Affairs
    Mohammad Al Gergawi, Minister for Industries and IT and Chairman, SmartCity
    Kochi, P KKunhalikutty, Gulf-based Kerala business tycoon M A Yusuf Ali and top
    officials of SmartCity jointly inaugurated the first phase of SmartCity, which
    will provide 5,500 knowledge-based jobs.
  • The launch of the 4.7 million sq
    ft phase-two was also performed simultaneously. It will be completed in 36
    months and provide 60,000 jobs.

Appointments –
KN Vyas Appointed Bhabha Atomic Research Centre Chief

  • Distinguished scientist KN Vyas
    on Friday was appointed Director of Bhabha Atomic Research Centre (BARC), the
    country’s premier multi-disciplinary nuclear research centre.
  • He succeeds Shekar Basu, who was
    in October appointed as Atomic Energy Secretary and Chairman of Atomic Energy
    Commission.
  • The Appointments Committee of the
    Cabinet has approved Mr Vyas’ name for a period of three years, an order issued
    by the Department of Personnel and Training said.
  • Mr Vyas, who has made outstanding
    contributions in the area of design and development of a novel fuel, is a
    recipient of the Science and Technical Excellence awards.
  • He is currently working as the
    associate director at BARC, as per its website.
  • The BARC is India’s premier
    nuclear research facility based in Mumbai.

Christine Lagarde appointed for second term as IMF chief

  • Christine Lagarde, who steered
    the IMF through some troubled times including the Eupropean financial crisis,
    has been re-appointed as its Managing Director for a second five-year term
    after an uncontested election.
  • The Executive Board of the
    International Monetary Fund (IMF) on Friday selected 60-year-old Lagarde to
    serve as IMF Managing Director for a second five-year term starting on July 5,
    2016, IMF said in a statement. The Board’s decision was taken by consensus.
  • France’s former finance minister
    secured early backing from many of the fund’s most powerful members when the
    IMF’s executive board launched the selection process in January, keeping other
    contenders from making an alternate bid and ensuring her a second term.

Nitin Kapadia appointed Head of StanChart Securities

  • Standard Chartered Securities
    India today announced the appointment of capital markets veteran Nitin Kapadia
    as its head and executive director.
  • Kapadia has over two decades of experience
    in capital markets.
  • He started his career as
    investment banker and moved on to set up and lead retail stock broking
    companies while also playing a significant part in business merger of a leading
    retail broking business.

World –
US launches anti-dumping probe on tyres from India, Sri Lanka

  • A US investigative body has
    decided to go ahead with its anti-dumping investigations into a certain
    category of tyres imported from India and Sri Lanka that may have a damaging
    effect on the US domestic industry even as it let China off the hook.
  • All six commissioners of the
    United States International Trade Commission (USITC) voted to determine that
    there is a reasonable indication that the US industry is materially injured by
    imports of certain new pneumatic off-the-road tyres from India that are allegedly
    sold in the country at less than fair value and subsidised by the governments
    of India and Sri Lanka.
  • According to a statement, the
    Commission further determined yesterday that imports of these products from
    China are negligible.
  • Following the Commission’s
    affirmative determinations, the US Department of Commerce will continue to
    conduct its investigations on imported products from India and Sri Lanka, with
    its preliminary countervailing duty determinations due on April 4 and its
    preliminary anti-dumping duty determinations due on June 16.
  • As a result of the Commission’s
    finding of negligibility, the investigations on imports of these products from
    China will be terminated, USITC said.

Japan launched astronomy satellite ASTRO-H
  • Japan Aerospace Exploration
    Agency (JAXA) on 17 February 2016 successfully launched astronomy satellite
    ASTRO-H from the Tanegashima Space Center in Kagoshima Prefecture.
  • The satellite was launched
    on-board the H-IIA rocket, which was previously known as the New X-ray Telescope
    (NeXT), and is expected to operate in low Earth orbit for three years.
  • ASTRO-H is the eye to study the
    hot and energetic universe. The ‘H’ refers to the word Japanese word Hitomi
    that means pupil or entrance window of the eye.

Awards & Honors –
Sameer Anjaan entered Guinness Book of Records for writing 3524 songs

  • Bollywood lyricist Sameer Anjaan
    on 17 February 2016 was officially recognised by Guinness World Records as the
    Most prolific Bollywood lyricist ever who has composed 3524 different songs as
    of 15 December 2015.
  • Sameer has written 3524 songs in
    650 Bollywood movies, and is now the first Guinness Record possessor in this
    particular category.
  • Sameer was presented with a
    certificate during a celebration ceremony held in Mumbai.


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Team ExamPundit

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