Current Affairs Update – 28-29th April, 2016

Hello and welcome to ExamPundit. Here are the Important Current Affairs from 28th and 29th April, 2016. These are important for the upcoming SBI Clerk Mains and UIIC AO 2016.

Current Affairs at a Glance – 28th – 29th April, 2016

  1. The government has decided to reverse its decision of reducing the interest rate on
    Employees’ Provident Fund Organisation (EPFO)
    and stick to rate of 8.8%
    for 2015-16
    as recommended by the
    Central Board of Trustees (CBT).
  2. India’s investments in the UK zoomed nearly 65% in 2015,
    establishing it as the third largest source of
    foreign direct investment (FDI) into Britain
    after the US and France.
  3. Experian,
    the global information services company, in the last week of April 2016
    launched a fraud detection mechanism named
    the Hunter
    Fraud Score
    .
  4. India
    on 28 April 2016 extended a Line of Credit (LoC) of 1 billion US dollars to
    Mongolia
    . The LoC was extended after delegation-level bilateral
    talks between the Minister of State for External Affairs VK Singh and Mongolian
    Foreign Minister Lundeg Purevsuren in New Delhi.
  5. Reliance Defence has signed a strategic partnership agreement with three
    Ukranian state-owned companies
    which
    will allow them to collaborate on a range of military products, including
    transport aircraft, upgrade of armoured vehicles, maritime gas turbines and
    unmanned aerial vehicles.
  6. Indian Space Research Organization (ISRO) on 28 April 2016 launched India’s seventh navigation satellite of the
    Indian Regional Navigation Satellite System (IRNSS 1G)
    into a
    Sub-Geosynchronous Transfer Orbit (Sub-GTO) on-board PSLV-C33.
  7. Orissa Chief Minister Naveen Patnaik on 28 April 2016 inaugurated
    100 piped water supply projects for rural areas.
    The CM also pledged to make piped water provision
    in all gram panchayats by 2017.
  8. Union government on 27 April 2016
    issued
    a notification banning the import of dogs for commercial breeding
    . The
    imports are allowed only for research or defence purposes.
  9. The Maharashtra government on 27 April 2016 decided to increase the
    punishment for chain
    snatching
    up to 5
    years of rigorous imprisonment along with a fine of 25000 rupees
    .
  10. Mindtree
    cofounder and former chairman Subroto Bagchi has been selected by the
    government of Odisha to head the state’s
    Skill Development Authority
    .
  11. Senior IPS officer Surendra Kumar Bhagat was on 28 April 2016
    appointed as the Director General (DG) of Railways Protection Force (RPF).

    His appointment was approved by the Appointments Committee of the Cabinet
    (ACC).
  12. Indian academician Radha Kumar was on 28 April 2016 appointed to the
    United Nations’ University Council
    to formulate its principles and
    policies, consider and approve biennial budget and work programme.
  13. The International Bank Note Society (IBNS) on 25 April 2016 announced that New Zealand’s five-dollar note won the
    Banknote of the Year Award for 2015
    . The bill came out as a
    clear winner among nearly 40 eligible designs from a record 20 countries.
  14. The Day of Remembrance for all Victims of
    Chemical Warfare 2016 was observed on 29 April 2016
    by the United Nations (UN).
  15. The 2016 World Day for Safety and Health at
    Work was observed across the world on 28 April 2016
    with the theme Workplace Stress: a collective
    challenge.
  16. China developed a new electronic paper, which has been
    heralded as “the world’s first graphene electronic paper
    . It was
    in news in the last of April 2016.
  17. South Korea on 27 April 2016 announced that its Olympic
    athletes will wear uniforms that have been infused with insect repellent to
    keep mosquitoes carrying the Zika virus at bay
    .
  18. The book titled Blood on my Hands: Confessions of Staged Encounter authored
    by Kishlay Bhattacharjee was in news in the last week of April 2016.
  19. Kerala cartoonist V T Thomas, popularly known as Toms,
    passed away on 27 April 2016 following a brief illness at in Kottayam, Kerela.



Finance/Banking/Industry –
FinMin raises EPF interest rate to 8.8%

  • The government has decided to
    reverse its decision of reducing the interest rate on Employees’ Provident Fund
    Organisation (EPFO) and stick to rate of 8.8% for 2015-16 as recommended by the
    Central Board of Trustees (CBT).
  • CBT, the supreme decision making
    body of EPFO, had approved 8.8% interest rate in February. However, Dattatreya,
    in a written reply to the Lok Sabha on Monday, said that the ministry of
    finance has, ratified an interest rate of 8.7%. 
  • According to regulations, after
    the interest rate is approved by the CBT, it has to be ratified by the finance
    ministry as it is a fiscal decision. However, this was the first instance, when
    the FinMin had disagreed with the rate approved by the board.
  • This is the third rollback on EPF
    in the last two months. Last month the government was forced to withdraw the
    Budget proposal to tax a certain portion of withdrawals. Subsequently, it withdrew
    tighter withdrawal norms.

India becomes 3rd largest source of FDI into Britain

  • India’s investments in the UK
    zoomed nearly 65% in 2015, establishing it as the third largest source of
    foreign direct investment (FDI) into Britain after the US and France.
  • A new report released in London
    also found that the number of Indian companies in the UK, growing at more than
    10%, has nearly doubled from 36 to 62 firms in a year.
  • ‘India meets Britain 2016:
    Tracking the UK’s top Indian companies’, published by Grant Thornton UK LLP in
    association with the Confederation of Indian Industry (CII), said the combined
    turnover of these businesses has increased by 4 billion pounds last year, up
    from 22 billion pounds in 2014 to 26 billion pounds in 2015.

Experian India launched fraud detection mechanism named Hunter Fraud
Score

  • Experian, the global information
    services company, in the last week of April 2016 launched a fraud detection
    mechanism named the Hunter Fraud Score.
  • The new scoring mechanism
    measures the probability of fraud in a credit application across banking and
    insurance industries.
  • Experian had launched the Hunter
    Fraud Management Services for the life insurance sector in India in March 2016.

Key highlights of Hunter Fraud Score
  • As per Experian, the new score
    will help retail finance providers and insurance companies in India
    significantly increase their efficiency in fraud detection.
  • Businesses will be able to
    identify applications that should be screened for potential fraud, and
    prioritise those that have a high probability of being fraudulent.

India extended 1-billion dollar Line of Credit to Mongolia

  • India on 28 April 2016 extended a
    Line of Credit (LoC) of 1 billion US dollars to Mongolia. The LoC was extended
    after delegation-level bilateral talks between the Minister of State for
    External Affairs VK Singh and Mongolian Foreign Minister Lundeg Purevsuren in
    New Delhi.
  • Besides, the two countries also
    agreed to exchange sentenced persons.
  • Lundeg Purevsuren was on a
    three-day state visit to India from 27 April to 29 April 2016. This visit was a
    part of the intensified bilateral exchanges following the upgrade of bilateral
    relations during Modi’s visit.

Reliance Defence signs pact with 3 Ukranian firms

  • Reliance Defence has signed a
    strategic partnership agreement with three Ukranian state-owned companies which
    will allow them to collaborate on a range of military products, including
    transport aircraft, upgrade of armoured vehicles, maritime gas turbines and
    unmanned aerial vehicles.
  • The development follows a meeting
    between Reliance Group Chairman Anil Ambani and Ukranian President Petro
    Poroshenko in Ukraine this week.
  • During the hour long meeting, the
    two leaders discussed issues of strategic interest between the Indian and
    Ukrainian defence and aerospace industry.

NITI Aayog launched urban management programme for capacity building of
states and urban local bodies
  • NITI Aayog chaired by Vice
    Chairman Dr Arvind Panagariya launched the Urban Management Programme on 27
    April 2016 in Vigyan Bhawan, New Delhi.
  • The state participation was at
    the level of Secretaries of Urban Development, Municipal Commissioners and
    other senior officials of State Government and parastatal bodies. About 150
    participants were present in the event.

An overview of the Urban Management Programme
  • The Programme is designed by NITI
    Aayog, Temasek Foundation and Singapore Cooperation Enterprise (SCE) under the
    platform of the Memorandum of Understanding signed between NITI Aayog and the
    Singapore Cooperation Enterprise (SCE).
  • It was to tap the expertise of
    Singapore in urban sector to build capacities in State Governments and ULBs to
    design efficient solutions to urban problems.

Union Cabinet approved Investment enhancement by BPCL in Bharat Oman
Refineries Limited
  • The Union Cabinet on 27 April
    2016 approved to enhance investment by Bharat Petroleum Corporation Limited
    (BPCL) in Bharat Oman Refineries Limited (BORL).
  • Now, the investment amount can be
    enhanced upto a maximum of 3000 crore rupees by way of subscription of
    convertible warrants giving right to convert it into equity shares to be issued
    by BORL.
  • The infusion of funds by the
    BPCLs will enable BORL to overcome the implications on account of the erosion
    of the net worth.

India –
ISRO’s seventh navigational satellite IRNSS 1G launched

  • Indian Space Research
    Organization (ISRO) on 28 April 2016 launched India’s seventh navigation
    satellite of the Indian Regional Navigation Satellite System (IRNSS 1G) into a
    Sub-Geosynchronous Transfer Orbit (Sub-GTO) on-board PSLV-C33.
  • The satellite was launched from
    the First Launch Pad (FLP) of the Satish Dhawan Space Centre, Sriharikota,
    which is situated 90 kms from Chennai.
  • With this launch, India
    successfully joined the elite group of countries that have their own navigation
    system technology to cater to the mammoth navigational needs.
  • As in the previous six launches
    of IRNSS satellites, PSLV-C33 used ‘XL’ version of PSLV equipped with six
    strap-ons, each carrying 12 tons of propellant.

Odisha Chief Minister Naveen Patnaik inaugurated 100 rural drinking
water projects

  • Chief Minister Naveen Patnaik on
    28 April 2016 inaugurated 100 piped water supply projects for rural areas. The
    CM also pledged to make piped water provision in all gram panchayats by 2017.
  • The project was inaugurated on
    the occasion of Utkal Gaurab Madhusudan Das’ anniversary.  Das was the first graduate and advocate of
    Odisha.
  • Earlier on 20 April 2016, Chief
    Minister Naveen Patnaik had dedicated 100 urban drinking water supply projects
    in the state.

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Union Government banned import of dogs for commercial breeding

  • Union government on 27 April 2016
    issued a notification banning the import of dogs for commercial breeding. The
    imports are allowed only for research or defence purposes.
  • The ban came after many animal
    rights organisations raised concerns over foreign breed dogs suffering due to
    unsuitable climatic conditions
  • Humane Society International
    (HSI) and People for Animals along with other groups had urged the government
    to ban the import on dogs for breeding as it was resulting in the
    overpopulation of street dogs in the country.

Union Cabinet approved MoU between India and Papua New Guinea on
cooperation in health and medical
science
  • The Union Cabinet chaired by the
    Prime Minister Narendra Modi on 27 April 2016 approved for signing a Memorandum
    of Understanding (MoU) between India and Papua New Guinea on cooperation in the
    fields of Healthcare and Medical Science.
  • The bilateral MoU will encourage
    cooperation between the Ministry of Health & Family Welfare of India and
    the Ministry of Health and HIV/AIDS of the Papua New Guinea through joint
    initiatives in the health sector. It will strengthen bilateral ties between
    India and Papua New Guinea.

Maharashtra Government rose jail term up to 5 yrs for chain snatchers
  • The Maharashtra government on 27
    April 2016 decided to increase the punishment for chain snatching up to 5 years
    of rigorous imprisonment along with a fine of 25000 rupees.
  • The state Cabinet cleared the
    amendments to relevant sections of Indian Penal Code sections 379, 397-A (1)(2)
    and section 379-B along with the CrPC Act-1973, thus increasing the punishment
    up to five years rigorous imprisonment and 25000 rupees fine, in case of grievous
    injury to the victim.
  • The new additional section of
    379-A(1) will define chain snatching as a crime and the convict will be
    sentenced under section 379-A(2), which provides minimum of 2 years and maximum
    of 5 years rigorous imprisonment.

Appointments –
Mindtree co-founder Subroto Bagchi to Head Odisha’s Skill body

  • Mindtree cofounder and former
    chairman Subroto Bagchi has been selected by the government of Odisha to head
    the state’s Skill Development Authority. 
  • Bagchi who would be given the rank of
    a Cabinet Minister, would directly report to the chief minister and would help
    in setting up a unified body that would guide, implement and oversee all skill
    development programmes in the state.
  • Bagchi has decided to draw a
    salary of Rupees 1 per year for this role. He will begin his work with a visit
    to all the 30 districts of the state to get a first-hand understanding of the
    initiatives on the ground and submit his recommendations based on which, a
    detailed programme will be worked out .
  • Odisha Skill Development
    Authority aims to unify the initiatives on the ground and create momentum for
    unemployed youth to receive skill-based training to make them employable.

Senior IPS officer Surendra Kumar Bhagat appointed as DG of Railways
Protection Force

  • Senior IPS officer Surendra Kumar
    Bhagat was on 28 April 2016 appointed as the Director General (DG) of Railways
    Protection Force (RPF). His appointment was approved by the Appointments Committee
    of the Cabinet (ACC).
  • As a DG of Railways Protection
    Force , Bhagat is entrusted with responsibility of protecting railway property
    and passengers. He will serve the Railway Board till the date of his superannuation
    that is on 30 June 2017.
  • He is presently working as
    Special Director General in Central Reserve Police Force (CRPF) at Western
    Sector, Jammu & Kashmir.

Indian academician Radha Kumar appointed to United Nations’ University
Council

  • Indian academician Radha Kumar
    was on 28 April 2016 appointed to the United Nations’ University Council to
    formulate its principles and policies, consider and approve biennial budget and
    work programme.
  • Kumar is among 12 people who are
    appointed by UN Secretary-General Ban Ki-moon to the council. These 12
    appointees will take office with effect from May 2016 and will serve for terms
    of either three or six years.

Resignations –
Charles Borromeo resigned from Tata Steel Sports Department

  • Asian Games gold medalist Charles
    Borromeo on 28 April 2016 resigned from the post of head of the Tata Steel
    sports department.
  • The resignation came after the
    vigilance department officials of the company questioned him in connection with
    alleged irregularities in tender process of 4.40 crore rupees worth synthetic
    track laying at the JRD Tata Sports complex.

Awards & Honors –
New Zealand’s $5 bill won IBNS Banknote of the Year Award

  • The International Bank Note
    Society (IBNS) on 25 April 2016 announced that New Zealand’s five-dollar note
    won the Banknote of the Year Award for 2015. The bill came out as a clear
    winner among nearly 40 eligible designs from a record 20 countries.
  • The runner’s up in the voting
    were Sweden’s 20 Kronor note depicting children’s author Astrid Lindgren,
    Russia’s 100 Ruble note illustrating Crimean landmarks, Kazakhstan’s 20000
    Tenge note and Scotland’s (Clydesdale Bank) 5 Pound polymer note.
  • The Reserve Bank of New Zealand
    began releasing a new family of Brighter Money banknotes in 2015. It began with
    the $5 and $10 denominations.

Days –
Day of Remembrance for all Victims of Chemical Warfare 2016 observed

  • The Day of Remembrance for all
    Victims of Chemical Warfare 2016 was observed on 29 April 2016 by the United
    Nations (UN).
  • This commemoration will provide
    an opportunity to pay tribute to the victims of chemical warfare, as well as to
    reaffirm the commitment of the Organization for the Prohibition of Chemical
    Weapons (OPCW) to the elimination of the threat of chemical weapons.

World Day for Safety and Health at Work 2016 observed globally

  • The 2016 World Day for Safety and
    Health at Work was observed across the world on 28 April 2016 with the theme
    Workplace Stress: a collective challenge.
  • The International Labour
    Organisation (ILO) celebrates World Day for Safety and Health to raise
    awareness of safety in the workplace. Occurring annually since 2003, each year
    it focuses on a specific area and bases a campaign around the theme.
  • The day 28 April has also long
    been associated with the world’s trade union movement’s commemoration of the
    victims of occupational accidents and diseases.

World –
China successfully launched Kunpeng-1B Sounding Rocket

  • China on 27 April 2016
    successfully launched the Kunpeng-1B sounding rocket from a launch pad in
    Danzhou City in the southern Chinese Hainan Province. The rocket reached a
    maximum height of 316 kilometres (196 miles), with the total flight time coming
    to 10 minutes.
  • The head of the rocket was
    equipped with a new altitude control system. New materials of flexible carbon
    fibre were also used in the rocket to enable easier flight.

China developed world’s first graphene electronic paper

  • China developed a new electronic
    paper, which has been heralded as “the world’s first graphene electronic
    paper. It was in news in the last of April 2016.
  • It will be a huge breakthrough
    that will catapult the material to a new level. It was developed  by The Guangzhou OED Technologies in
    partnership with a company in Chongqing.
  • Compared with traditional
    e-papers, graphene e-paper is more pliable and has more intensity and its
    high-light transmittance means optical displays will be much brighter.

Sports –
Japan unveiled Tokyo 2020 Olympic and Paralympics emblems

  • Japan’s Olympic organisers on 25
    April 2016 unveiled the new official logos of the 2020 Tokyo Olympic and
    Paralympic Games. The emblems, designed by Asao Tokolo, feature an
    indigo-coloured check in the design.
  • The Olympic logo features a
    circular Japanese traditional checkered pattern. Below the design are the words
    Tokyo 2020 and under them the five interlocking Olympic rings. The design is
    meant to express a refined elegance and sophistication that exemplifies Japan.

South Korean Olympians to wear mosquito repellent uniform at Rio
Olympics
  • South Korea on 27 April 2016 announced
    that its Olympic athletes will wear uniforms that have been infused with insect
    repellent to keep mosquitoes carrying the Zika virus at bay.
  • The South Korean team’s uniforms
    were unveiled in Seoul, marking 100 days until the opening ceremony in Brazil.
  • These formal long-sleeved shirts
    and trousers containing mosquito repellent will be worn by the South Korean
    athletes during ceremonies and at the athletes’ village at the 2016 Olympic
    Games in Rio de Janeiro.

Jayasurya recalled as Sri Lanka’s cricket chief selector

  • Sri Lanka Cricket (SLC) on 27
    April 2016 announced appointment of Sanath Jayasuriya as chief selector of the
    Sri Lankan Cricket team.
  • Jayasuriya is back as the chief
    selector for the team, after a year when he stepped down from the role.
    Earlier, he served as the chief selector from January 2013 to March 2015.
  • Jayasuriya-led committee will
    succeed the Aravinda de Silva led committee.

Books & Authors –
Blood on my Hands: Confessions of Staged Encounters by Kishalay Bhattacharjee

  • The book titled Blood on my
    Hands: Confessions of Staged Encounter authored by Kishlay Bhattacharjee was in
    news in the last week of April 2016.
  • The book came into news as Biju
    Janata Dal leader Tathagata Satpathy on 26 April 2016 demanded revocation of
    the controversial Armed Forces Special Powers Act (AFSPA) in the north-eastern
    region. He stated that the book, which is on India’s north-eastern region,
    serves as an eye-opener.

Obituaries –
Kerala cartoonist V T Thomas passed away
  • Kerala cartoonist V T Thomas,
    popularly known as Toms, passed away on 27 April 2016 following a brief illness
    at in Kottayam, Kerela. He was 86. He is survived by his wife Thresyakutty and
    children Boban, Molly, Rani, Peter, Bose, Princy.
  • Toms created the legendary
    cartoon characters Boban and Molly (Bobanum Moliyum).

Two-time Olympic champion Felix Sanchez retired

  • Two-time Olympic 400-meter
    hurdles gold medalist champion Felix Sanchez announced his retirement on 26
    April 2016. The announcement means that the 38-year-old will not defend his
    title at the 2016 Olympics in Rio de Janeiro.
  • Sanchez made the announcement in
    a video press conference in the Dominican Republic.

Chinese human rights activist Harry Wu died

  • Harry Wu, campaigner for human
    rights in China, passed away on 26 April 2016 in Honduras. He was 79.
  • Wu, the son of a wealthy Roman
    Catholic family from Shanghai, was arrested in 1960 when he was only 23 years
    old. He was given a life sentence in a forced labour prison camp after he
    criticised the Soviet Union, then an ally of China.


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