Current Affairs Update – 27th to 29th February, 2016

Hello and welcome to ExamPundit. Here are the Important Current Affairs from 27th February to 29th February, 2016. These are Important for the last phase of LIC AAO 2016.

• Union Finance Minister, Arun
  Jaitley on 29 February 2016 presented Union Budget 2016-17 in the Lok Sabha.
  This was the second full year Budget of the NDA government and the third budget
  of Jaitley.
• The finance minster announced
  nine pillars of the budget and they are Agriculture and farmers’ welfare, rural
  sector, social sector including healthcare, education, skills and job creation,
  infrastructure, financial sector reforms, ease of doing business, fiscal
  discipline, tax reforms to reduce compliance burden.

• Agricultural policy will be
  reorganised to double farmer income in five years
• For gas connections, new scheme to
  be launched for BPL families

• Prime Minister Narendra Modi on
  28 February 2016 approved the proposal of the Department of Financial Services
  for the constitution of the Banks Board Bureau (BBB). The BBB will start
  functioning from 1 April 2016.
• The Bureau constituted with an
  aim to improve the Governance of Public Sector Banks (PSBs) will be chaired by
  former CAG Vinod Rai. In addition to the Chairperson, the autonomous body will
  have ex-officio members and three expert members. All the Members and Chairman
  will be part time.
• The expert members are Anil K
  Khandelwal (former CMD of Bank of Baroda), Rupa Kudwa (former MD & CEO,
  CRISIL) and HN Sinor (former Joint MD, ICICI Bank). The three ex-officio
  members will be Secretary, Department Financial Services, Secretary, Department
  of Public Enterprises and Deputy Governor, Reserve Bank of India.

• The Government-constituted expert
  committee to examine the Possibility of Replacing Multiple Prior Permissions
  with Pre-Existing Regulatory Mechanism submitted its recommendations in the
  fourth week of February 2016.
• The Expert Committee was
  constituted by Department of Industrial Policy and Promotion (DIPP) in April
  2015 to examine the possibility of replacing multiple prior permissions with a
  pre-existing regulatory mechanism with adequate safeguards.
• The 11 member committee was
  headed by Ajay Shankar, Former Secretary of DIPP.

• London-listed Vedanta Resources
  Inc bagged a gold mine in Chhattisgarh that was put up for auction by the state
  government.
• The company quoted the highest
  price to get the Baghmara (Sonakhan) gold mine, which became country’s first
  mine carrying the yellow metal to be auctioned. The company would be granted
  the composite licence that includes both prospecting licence and cum-mining
  lease.
• The Baghmara mine is spread
  across an area of 608 hectares in a densely forested pocket of the
  Balodabazar-Bhatapara district — about 130 km northeast of Raipur. Based on the
  exploration and available reports, the mine has an estimate reserve of 2,700 kg
  of gold metal. The bidding went on for nearly 13 hours Friday and concluded
  late in the night. Over 160 bids were submitted.

• President Pranab Mukherjee on 27 February
  2016 inaugurated Kerala Tourism’s Muziris Heritage Project (MHP) at Trissur in
  Kerala.
• The project is India’s largest
  heritage conservation project and Kerala Government’s first green Project.
• Muziris is the hub of the spice
  route and the bustling port of the first century BC that drew legions of Arab,
  Roman, Greek, Chinese and Jewish traders from across the seas. Its launch will
  unveil the history and heritage of Muziris described by Roman Naturalist Pliny
  the Elder as India’s first emporium
• Featuring a host of initiatives
  including museums and a number of heritage sites, MHP, supported by the Union
  Government will conserve and showcase the culture of 3000 years or more for
  posterity.

• Punjab government on 28 February
  2016 imposed a ban on the sale of army uniforms across the state.
• Any person who wants to buy the
  uniform would have to submit a self-attested copy of his identity card and
  phone number with the shopkeeper. This record would be duly maintained along
  with date of sale in the record register of the shopkeeper.
• These orders would remain in
  force till 21 April 2016 and next course of action will be decided afterwards.           

• The 88th Academy Awards ceremony,
  presented by the Academy of Motion Picture Arts and Sciences (AMPAS).
• Mad Max Fury Road won the most
  number of awards (6 all total) in the Oscar 2016. Revenant followed it with 3 awards.

1. Best Picture – Spotlight
2. Best Director – Alejandro G.
   Iñárritu – The Revenant
3. Best Actor – Leonardo DiCaprio –
   The Revenant as Hugh Glassdouble-dagger
4. Best Actress – Brie Larson – Room
   as Joy “Ma” Newsome
5. Best Supporting Actor – Mark
   Rylance – Bridge of Spies as Rudolf Abel
6. Best Supporting Actress –  Alicia Vikander – The Danish Girl as Gerda
   Wegener
7. Best Foreign Language Film – Son
   of Saul (Hungary) in Hungarian – László Nemesdouble-dagger
8. Best Animated Feature Film –
   Inside Out – Pete Docter and Jonas Riveradouble-dagger

• Indo-British filmmaker Asif
  Kapadia won the best documentary Oscar for “Amy”, a poignant examination of singer
  Amy Winehouse’s life and her tragic death at the age of 27.
• Kapadia, who has already won the
  Golden Globe and Bafta awards for the documentary, paid tribute to Winehouse,
  who died in 2011 following a battle with drug and alcohol that was gleefully captured
  by tabloids.
• The film has been critics
  favourite since making its premiere at the Cannes Film Festival last year.
  However, the singer’s father Mitch distanced himself from the documentary
  calling it a disappointment.
• Kapadia, 44, is known for directing
  “Senna” in 2012 and Irrfan Khan-starrer “The Warrior” in 2003.

• Actor Ranveer Singh was on 26
  February 2016 selected for Pandit Dinanath Mangeshkar award. The award will be
  bestowed upon Ranveer by Lata Mangeshkar at a function to be held in Pune.
• The award is annually conferred
  on artists on 24 April to commemorate Pandit Dinanath Mangeshkar’s death
  anniversary.

• Delhi and Uttar Pradesh
  Government on 26 February 2016 announced that actress Sonam Kapoor-starrer
  Neerja will be tax free in the state.
• The movie is based on the life of
  young flight attendant Neerja Bhanot, who died trying to save the lives of
  350-odd passengers on a hijacked Pan Am aircraft in 1986.
• Libya backed Abu Nidal
  Organization’s tried to highjack Pan Am Flight 73 in Karachi, Pakistan on 5
  September 1986 but Bhanot thwarted the hijack attempt by preventing the plane
  from taking off.
• The film, released on 19
  February, has already been declared tax-free in Gujarat and Maharashtra.

• Famous sound designer Resul
  Pookutty on 27 February 2016 became the first Asian to win the award for Best
  Sound for documentary India’s Daughter at the Motion Picture Sound Editors’
  (MPSE) 63rd annual Golden Reel Awards.
• The competing films/ television
  documentaries in the list included Beware Baltimore, Chef’s Table, Deadliest
  Catch, and The Undrafted, Mad Max: Fury Road, The Martian, Star Wars: The Force
  Awakens and The Revenant among others.

• Former Comptroller & Auditor
  General of India Vinod Rai has been named the first chairman of Banks Board
  Bureau, which will help the government appoint heads of public sector banks and
  advice on banking reforms.
• The appointment has raised some
  eyebrows, especially after Rai was given Padma Bhushan this year. Under Article
  148 (4) of the constitution, the Comptroller and Auditor General shall not be
  eligible for further office either under the Government of India or under the
  Government of any State after he has ceased to hold his office. It is likely
  that the provision will not apply as this is a part time job post and there is
  no compensation.
• The Bank Board Bureau (BBB),
  announced by the NDA government to improve governance at public sector banks,
  will become operational on April 1, the finance ministry said in a statement on
  Sunday.

• Vice-Admiral H C S Bisht took
  over as the flag officer commanding-in-chief, eastern naval command, from
  vice-admiral Satish Soni who retired today.
• Bisht inspected the ceremonial
  guard and reviewed platoons of the naval personnel drawn from various ships and
  establishments of the Command (ENC) at the parade held at naval base here.
• Soni, who served Navy 40 years,
  was accorded farewell by traditional ‘pulling out’ ceremony wherein flag
  officers and commanding officers of ships and naval establishments pulled his
  jeep by ropes.
• Bisht had served as Executive
  Officer of ASW corvette ‘INS Ajay’, commander work-up in Indian Naval Work Up
  Team (INWT) at Kochi, fleet gunnery officer of the Eastern Fleet at
  Visakhapatnam, commissioning commanding officer of the missile corvette INS
  Kora and also commanded stealth frigate, INS Tabar.

• Dinesh Sharma, Additional Finance
  Secretary and India’s Governor to the International Fund for Agriculture Development
  (IFAD) was unanimously elected as the Chairperson of the Governing Council of
  IFAD for a period of two years in its 39th Session held on 17 February and 18
  February 2016 in Rome, Italy.
• The Governing Council Session of
  IFAD was marked by special focus on inclusive growth and on the investments
  required to meet the sustainable development goals in the realm of eradicating
  poverty and hunger.

• Gianni Infantino was elected as
  the President of FIFA (Fédération Internationale de Football Association) after
  winning a second-round vote at Extraordinary FIFA Congress held in Zurich on 26
  February 2016.
• He was elected as the ninth FIFA
  President after the second ballot in which he secured 115 of 207 total votes.
  He will serve FIFA for the remainder of current term of office (until 2019).
• Infantino, the 45-year-old
  general secretary of European governing body UEFA, succeeded the 79-year-old
  Sepp Blatter, who held the position since 1998.

• Slovenian high-jumper Rozle
  Prezelj on 27 February 2016 was elected the Chairman of the International
  Association of Athletics Federations (IAAF) Athletes’ Commission in Monaco.
• Prezelj took over as Chairman of
  the commission from Frank Fredericks with immediate effect.
• On the other hand, Britain’s marathon
  world record-holder Paula Radcliffe was nominated Vice Chairwoman of the
  commission.

• National Science Day was observed
  across India on 28 February 2016. The theme for the National Science Day 2016
  is Scientific Issues for Development of the Nation.
• The day is observed annually to
  mark the discovery of the Raman Effect (phenomenon of scattering of photons) by
  Indian physicist Sir Chandrasekhara Venkata Raman on 28 February 1928.
• Raman was awarded with the Nobel
  Prize in Physics in 1930 for his discovery and this was the first Nobel Prize
  for India in the field of Science.

• Swashbuckling former India opener
  Virender Sehwag has been roped in by Cricbuzz as its in-house expert analyst
  for the ICC World T20, which will kick off on March 8th.
• Sehwag, who has appeared as a
  panelist on several television-based cricket shows, will be making his first
  appearance on a wraparound show for a website.
• As part of this engagement,
  Sehwag will provide his expert opinion for the World T20 matches and will also
  answer questions from Cricbuzz users around the world.

• Stanislas Wawrinka on 28 February
  2016 won his ninth straight final to clinch the Dubai ATP Tennis title. In the
  final played in Dubai, Wawrinka defeated Marcos Baghdatis in straight sets with
  a 6-4, 7-6(13).
• This was the third time that
  Wawrinka has played in Dubai. In his previous two visits, the Swiss star never
  won a match.

• Mumbai on 26 February 2016 won
  the Ranji Trophy with an innings and 21 run victory over Saurashtra. It won the
  trophy for the first time in three seasons.
• With this, they have 41 titles in
  45 finals with 10 of them being an innings victory. Karnataka stands second in
  the overall Ranji standings with eight titles.
• It was a repeat of the 2012-13
  final where Mumbai had made short work of Saurashtra with an innings and
  125-run victory.
• Mumbai made 371 runs in 82.2
  overs in their first innings and in reply Saurashtra managed 235 and 115 runs
  in first and second innings respectively.

• India’s oldest first-class
  cricketer BK Garudachar, who represented Mysore (as Karnataka was called till
  1974), United Province and Bombay, died on 26 February 2016 in Bangalore. He
  was 99.
• A right-hand batsman and a
  leg-break bowler, Garudachar made 1126 runs at an average of 29.63 from 27
  matches in first-class cricket between 1935 and 1946.

• Socialist leader Nihal Ahmed
  Maulavi Mohammed Usman died on 29 February 2016 in Nashik. He was 90.
• He was popularly known as
  Nihalbhai and was the first mayor of the Malegaon Municipal Corporation.
• He was the state president of
  Janata Dal (Secular). He was a former Minister of technical and higher
  education of Maharastra.
• He was elected as legislator in
  the state Assembly for nearly three decades.

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