Current Affairs Update – 24-25th July, 2016

Hello and welcome to exampundit . Here are the Important Current Affairs of 24th and 25th July, 2016. These are important for the upcoming UBI PO PGDBF and RBI Grade B 2016 Exams.

Current Affairs at a Glance – 24-25th July, 2016

  1. The RBI has imposed penalties of Rs 5 crore and Rs 3 crore on PSU
    lenders Bank of Baroda and Punjab National Bank
    ,
    respectively and also fined private sector HDFC Bank Rs 2 crore for lapses
    in adhering to anti-money laundering guidelines.
  2. Tata AIG General Insurance has launched an integrated travel product, for all Axis Bank
    customers
    through the bank’s one
    stop solution called ‘Happy Holidays
    Package’
    .
  3. Union Ministry of Water
    Resources, River Development and Ganga Rejuvenation on 22 July 2016 constituted a committee to prepare
    guidelines for desiltation of river Ganga
    . Madhav Chitale, an Expert Member
    of National Ganga River Basin Authority (NGRBA) has been appointed as Chairman
    of the committee. The tenure of the committee would be for a period of three
    months.
  4. Pinarayi Vijayan, Chief Minister
    of Kerala, on 23 July 2016 launched Kochi Water Metro project in Kochi, Kerala. It is
    the first ever Water Metro project in the country
    .
    German Development Bank, Kreditanstalt für Wiederaufbau (KfW) is funding 85
    million euro for the project. The German bank has inked an agreement with the
    Kochi Metro Rail Limited for the project worth 747 crore rupees.
  5. Neeraj Chopra, the javelin
    thrower from India, on 23 July 2016 won gold in the IAAF World Under-20
    Championships in Bydgoszcz, Poland. With this, Neeraj, 18, managed to set a new world record
    (U-20) of 86.48m
    .
  6. The Madras Music Academy on 24 July 2016 announced that it has chosen
    versatile violinist A. Kanyakumari for its coveted Sangita Kalanidhi
    Award for the year 2016
    . Kanyakumari was unanimously named for the award by
    the Executive Committee of the Academy. The violinist is the first woman violinist
    to get the award in the history of the Music Academy
    .
  7. Dr Harsh Vardhan, Union Minister
    for Science and Technology and Earth Sciences, on 22 July 2016 launched the
    Solar Power Tree in New Delhi
    . The Solar Power Tree has been
    developed by the CSIR-Central Mechanical Engineering Research Institute
    (CSIR-CMERI), a constituent laboratory of Council of Scientific and Industrial
    Research (CSIR).
  8. Top-seeded Feliciano Lopez of Spain on 24 July 2016 defeated Robin Haase of the
    Netherlands 6-4, 7-5 to win the 2016
    Swiss Open Gstaad
    .
  9. Nepal’s Prime Minister, Khadga Prasad
    Oli
    , on 24 July 2016 resigned from his office. He resigned ahead of
    a no-confidence vote.
Finance/Banking –
RBI fines BoB, PNB, HDFC Bank for regulatory lapses
  • The RBI has imposed penalties of
    Rs 5 crore and Rs 3 crore on PSU lenders Bank of Baroda and Punjab National
    Bank, respectively and also fined private sector HDFC Bank Rs 2 crore for
    lapses in adhering to anti-money laundering guidelines.
  • “The RBI has imposed a
    penalty of Rs 50 million on Bank of Baroda (BoB)… Pursuant to the internal
    audit of the Bank of Baroda, the Reserve Bank of India and investigative
    agencies in October 2015 were advised by the Bank of certain irregularities
    observed,” BoB said in a BSE filing.
  • The public sector lender further
    said the Reserve Bank carried out the investigation and noted the deficiencies
    which were reflective of weaknesses and failures in internal control mechanisms
    in respect of certain “anti-money laundering (AML) provisions such as
    monitoring of transactions, timely reporting to Financial Intelligence Unit
    (FIU) and assigning of Unique Customer Identification Code (UCIC) to
    customers”.
  • BoB said it has implemented a
    comprehensive corrective action plan to strengthen internal control and ensure
    that such incidents do not recur.
  • Punjab National Bank (PNB) also
    informed the BSE that the RBI has imposed an aggregate penalty of Rs 3 crore on
    it.
  • “Though the amount of
    penalty is not material to the size of the Bank, reporting is done in terms of
    SEBI (LODR) Regulations 2015,” PNB said.
Tata AIG launches travel insurance for Axis Bank customers
  • Tata AIG General Insurance has
    launched an integrated travel product, for all Axis Bank customers through the
    bank’s one stop solution called ‘Happy Holidays Package’.
  • The package allows Axis Bank
    customers, who are travelling abroad to buy Tata AIG travel insurance policy
    instantly and in a seamless manner from the bank’s mobile application.
  • The ‘Happy Holidays Package’
    offers multiple travel benefits to globetrotters such as a Multi-Currency Forex
    Card, that can be loaded with up to 16 currencies; travel insurance policy,
    tailor-made Travel Insurance plans; TripAssist Services – an emergency
    assistance service; Free International Calling Cards, and discounts at
    restaurants in overseas locations.
India –
India’s first Water Metro launched in Kochi
  • Pinarayi Vijayan, Chief Minister
    of Kerala, on 23 July 2016 launched Kochi Water Metro project in Kochi, Kerala.
    It is the first ever Water Metro project in the country.
  • German Development Bank,
    Kreditanstalt für Wiederaufbau (KfW) is funding 85 million euro for the
    project. The German bank has inked an agreement with the Kochi Metro Rail
    Limited for the project worth 747 crore rupees.
  • The Water Metro will link various
    islands to the mainland.
  • The metro network through inland
    waterways will provide last-mile connectivity to islanders and leisure travel
    to visitors.
  • The Water Metro will provide
    Kochi with 78 modern boats.
Madhav Chitale committee constituted to prepare Guidelines for
Desiltation of River Ganga
  • Union Ministry of Water
    Resources, River Development and Ganga Rejuvenation on 22 July 2016 constituted
    a committee to prepare guidelines for desiltation of river Ganga.
  • Madhav Chitale, an Expert Member
    of National Ganga River Basin Authority (NGRBA) has been appointed as Chairman
    of the committee. The tenure of the committee would be for a period of three
    months.
  • It will provide guidelines for
    desiltation of river Ganga from Bhimgauda (Uttarakhand) to Farakka (West
    Bengal).
  • It will establish difference
    between desilting and sand mining in the river.
CSIR-CMERI develops Solar Power Tree for generation of electricity
  • Dr Harsh Vardhan, Union Minister
    for Science and Technology and Earth Sciences, on 22 July 2016 launched the
    Solar Power Tree in New Delhi.
  • The Solar Power Tree has been
    developed by the CSIR-Central Mechanical Engineering Research Institute
    (CSIR-CMERI), a constituent laboratory of Council of Scientific and Industrial
    Research (CSIR).
  • The product harnesses solar
    energy for producing electricity with an innovative vertical arrangement of
    solar cells. Therefore, it reduces the requirement of land as compared to
    conventional Solar Photovoltaic layout.
  • As a future prospect, the Solar
    Power Tree will be developed in a rotatable module, which will have a motorized
    mechanism to align itself with the movement of the Sun during the day.
  • It takes only 4 square feet of
    land for a 5 KW Solar Power tree. On the other hand, a conventional layout
    requires 400 square feet of land.
  • By holding the photovoltaic
    panels at a higher height, it gets more sunrays for one hour in a day on an
    average. As a result, it is possible to harness 10-15% more power in comparison
    to a conventional layout on ground.
Scientists decide to launch field trials of oil-degrading bacteria in
Kochi
  • The Malabar Botanical Garden and
    Institute of Plant Sciences, Kozhikode, and Bharat Petroleum Corporation
    Limited (BPCL) in July 2016 joined hands to launch field trials of oil-degrading
    bacteria in Kochi.
  • The scientists will undertake the
    trail to establish the oil-degrading properties of three new strains of
    bacteria.
  • The oil-degrading properties of
    these bacteria will pave the way for the development of bioremediation agents
    to clean up petroleum pollutants from the environment.
Brahmaputra Valley Film Festival 2016 begins in Guwahati
  • The fourth edition of the
    Brahmaputra Valley Film Festival commenced on 22 July 2016 in Guwahati, Assam.
  • The festival pays homage to the
    rich culture of northeast India and is dedicated to the film fraternity of the
    region.

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Appointments –
L&T Finance promotes Dinanath Dubhashi as Managing Director

  • L&T Finance Holdings has
    promoted Dinanath Dubhashi as managing director with effect from July 22 while
    CMD Y M Deosthalee will continue to serve as its chairman.
  • The board of directors of the
    company at its meeting held on July 22, appointed Dinanath Dubhashi, deputy
    managing director as the manging director of the company and said that
    Deosthalee, would continue to serve as the chairman of the company, L&T
    Finance said in a regulatory filing.
  • The company has sought
    shareholders’ approval for the appointment of Dubhashi as Managing Director and
    Amit Chandra as a nominee director of the company, it said.
Sports –
Neeraj Chopra becomes first Indian to win gold in World Athletics
championships
  • Neeraj Chopra, the javelin
    thrower from India, on 23 July 2016 won gold in the IAAF World Under-20
    Championships in Bydgoszcz, Poland. With this, Neeraj, 18, managed to set a new
    world record (U-20) of 86.48m.
  • His 86.48m effort also helped
    India in bringing its first world record as well as the country’s first-ever
    gold in any World athletics championships.
  • South African Johan Grobler with
    80.59m took the silver and Anderson Peters with 79.65m of Granada the bronze.
Feliciano Lopez wins 2016 Swiss Open Gstaad
  • Top-seeded Feliciano Lopez of
    Spain on 24 July 2016 defeated Robin Haase of the Netherlands 6-4, 7-5 to win
    the 2016 Swiss Open Gstaad.
  • It is Lopez’s first title on clay
    and his fifth overall.
Wrestler Narsingh Yadav fails Dope Test
  • Narsingh Yadav, the Indian
    wrestler qualifier for Rio Olympics, in July 2016 failed a dope test. He was
    tested positive for a banned substance steroid in an out-of-competition test
    conducted by the National Anti-Doping Agency (NADA).
  • In the samples collected at the
    National camp in Sonepat, he was tested positive for the methandienone — a
    banned anabolic steroid.
  • A former Commonwealth Games
    gold-medallist qualified for the Rio Olympics in the 74kg freestyle category
    ahead of the two-time Olympic medalist Sushil Kumar.
World –
Nepal Prime Minister KP Oli resigns ahead of a no-confidence vote
  • Nepal’s Prime Minister, Khadga
    Prasad Oli, on 24 July 2016 resigned from his office. He resigned ahead of a
    no-confidence vote.
  • Oli’s resignation, who was
    heading Nepal’s eighth government in past 10 years, threw the nation into a
    fresh political turmoil.
  • Oli, 64, who became prime
    minister of Nepal in October 2015, has been facing a no-trust motion after the
    Maoists withdrew support from the coalition government.
Annual electronic music festival Tomorrowland begins in Belgium

  • One of the biggest electronic
    music festivals Tomorrowland began on 22 July 2016 in Boom, Belgium.
  • The year 2016 also marks
    Tomorrowland 10th edition.
  • More than 350000 tickets for the
    festival were sold out in an hour of their opening in February 2016.
Awards & Honors –
A Kanyakumari becomes first woman violinist to receive Sangita
Kalanidhi Award
  • The Madras Music Academy on 24
    July 2016 announced that it has chosen versatile violinist A. Kanyakumari for
    its coveted Sangita Kalanidhi Award for the year 2016.
  • Kanyakumari was unanimously named
    for the award by the Executive Committee of the Academy.
  • The violinist is the first woman
    violinist to get the award in the history of the Music Academy. She will
    preside over the 90th annual conference of the Academy to be held between 15 December
    2016 and 1 January 2017.

Regards

Team ExamPundit