Current Affairs Update – 7th April, 2016

Hello and welcome to ExamPundit. Here are the important Current Affairs of 7 April, 2016. These are important for the upcoming SBI Clerk and NABARD Assistant Manager exam 2016.

• The Small Industries Development
  Bank of India (SIDBI) on Thursday signed a memorandum of understanding with the
  Life Insurance Corporation of India to supplement funds under its fund-of-funds
  operation that aims to provide venture capital for medium and small
  enterprises.
• SIDBI set up the India Aspiration
  Fund (IAF) under its fund-of-fund operations, with a corpus of Rs 2,000 crore
  after the budget announcement of 2015. The IAF aims to provide a boost to
  startup venture capital in the country.
• A committee instituted by SIDBI
  under IAF has so far cleared proposals for an aggregate commitment of around Rs
  1,400 crore to 38 venture capital funds.

• The Cabinet Committee on Economic
  Affairs (CCEA) on 6 April 2016 cleared conversion of Working Capital Term Loan
  (WCTL) of Bank of Baroda’s (BoB) 29.91 crore rupees loan to Andrew Yule &
  Co. Ltd. (AYCL) into equity shares.
• The approval was granted during
  the CCEA meet chaired y Prime Minister Narendra Modi.
• The price of equity shares will
  be based on market price determined as per Securities and Exchange Board of
  India (SEBI) Guidelines on the date of acquiring of shares by BoB with face
  value of 2 rupees per share.

• The Union Cabinet chaired by the
  Prime Minister Narendra Modi on 6 April 2016 gave its ex-post facto approval
  for implementation of One Rank One Pension (OROP).
• Implementation of OROP will enhance
  the pension for the pensioners/family pensioners of Defence Forces.

• The benefit will be given with
  effect from 1 July 2014.
• Pension will be re-fixed for pre
  1 July 2014 pensioners retiring in the same rank and with the same length of
  service as the average of minimum and maximum pension drawn by the retirees in
  the year 2013. Those drawing pensions above the average will be protected.
• The benefit would also be
  extended to family pensioners including war widows and disabled pensioners.

• The Union Cabinet chaired by the
  Prime Minister Narendra Modi on 6 April 2016 gave approval for increasing the
  framework agreement between Exim Bank of India and a consortium of Iranian
  banks lead by Central Bank of Iran.
• It would help in financing the
  purchase of goods and services from India to 3000 crore rupees from 900 crore
  rupees.
• This will be done by utilising
  the Export Development Fund (EDF). The proposal provides for domiciling two
  contracts of export of steel rails by STC and for the Chabahar Port Development
  project previously approved by the Cabinet under EDF.
• The proposal will promote the
  country’s exports with Iran. It will also deepen India’s relationship with Iran
  as a strategic partner.

• Union Cabinet chaired by Prime
  Minister Narendra Modi on 6 April 2016 gave its approval to the Recommendations
  on Fiscal Deficit Targets and Additional Fiscal Deficit to States during
  Fourteenth Finance Commission (FFC) award period 2015-20 under the two
  flexibility options.
• The commission adopted the fiscal
  deficit threshold limit of 3 per cent of Gross State Domestic Product (GSDP)
  for the States.Further, It was also provided a year-to-year flexibility for
  additional fiscal deficit to States.
• It took the development needs and
  the current macro- economic requirement into account and provided additional
  headroom to a maximum of 0.5 per cent over and above the normal limit of 3 per
  cent in any given year to the States that have a favourable debt-GSDP ratio and
  interest payments-revenue receipts ratio in the previous two years.

• The Union Cabinet chaired by the
  Prime Minister Narendra Modi 6 April 2016 gave its approval to implement of the
  National Hydrology Project.  It will be a
  central sector scheme with a total outlay of 3679.7674 crore rupees.
• The Project includes 3640 crore
  rupees for National Hydrology Project (NHP) and 39.7674 crore rupees for
  National Water Informatics Centre (NWIC) to be taken up in two stages.
• It also provides for
  establishment of NWIC as an independent organization under the control of
  Ministry of Water Resources, River Development and Ganga Rejuvenation (MoWR,
  RD&GR).

• Union Government on 5 April 2016
  launched the low cost micro solar device, Surya Jyoti. The solar dome would
  help rural and urban population to have a reliable access to electricity.
• This low cost and
  environment-friendly solar lighting device was launched by Union Minister for
  Science & Technology and Earth Sciences, Dr. Harsh Vardhan. The device
  would light up homes without electricity and save millions of units of power.
• The device has been developed
  under the aegis of the Department of Science & Technology.
• According to preliminary
  estimates, if this technology is adopted in 10 million households only, it has
  the potential of saving 1750 million units of energy.
• It would also lead to an emission
  reduction of about 12.5 million ton of CO2 equivalent, hence giving a fillip to
  the mission of ‘Clean India, Green India’.

• Union Agriculture and Farmers
  Welfare Minister, Radha Mohan Singh, on 6 April 2016 laid the foundation stone
  of Haryana State University of Horticultural Sciences at Karnal, Haryana.
• The establishment of a fully
  fledged horticultural university will cater the needs to support the gap
  between teaching, research and extension activities in the state.
• The university will be built on
  118 acres. It will meet the demand of skilled human resources.
• The varsity will establish the
  convergence and synergy to disseminate latest technology and horticulture
  education to the young generation.
• The university is expected to
  help in improving productivity levels and to adopt appropriate crop
  diversification to suit the agro climatic conditions of the region.

• The Odisha Chief Minister Naveen
  Patnaik on 5 April 2016 launched Odisha Adarsh Vidyalaya (OAV) project at Sasan
  Ambagaon village in his home constituency Hinjli in Ganjam district.
• The project seeks to provide
  modern schools on the lines of Kendriya Vidyalayas in the underdeveloped rural
  areas of the State.
• These schools will provide free
  education (classes VI to XII) to students along with free uniforms and other
  study materials.
• They will have hostel facility in
  future and will be affiliated to the Central Board of Secondary Education
  (CBSE).
• One Adarsh Vidyalaya will be set
  up in each of the 314 revenue blocks of the State. In the first phase, 100 of
  these schools started functioning on 5 April 2016.

• Union Minister of State (IC) for
  Power, Coal and New & Renewable Energy Piyush Goyal along with Andhra
  Pradesh Chief Minister N Chandrababu Naidu on 7 April 2016 launched two schemes
  in Vijayawada, Andhra Pradesh.
• These are National Energy
  Efficient Agriculture Pumps Programme and National Energy Efficient Fan
  Programme.
• It will help farmers in replacing
  energy guzzlers age-old agricultural pumps across the country with the new-age
  energy efficient agricultural pumps, with a 5-Star Rating.
• The farmers will have flexibility
  to switch-on and switch-off the pumps from their mobile phones and from the
  comfort of their homes as the pumps will come enabled with smart control panel
  and a SIM card.

• Gujarat’s IPS officer Rakesh
  Asthana has been appointed as Additional Director in the CBI, as the government
  today cleared appointments of over a dozen senior level officers in the premier
  probe agency facing acute shortage of staff.
• The Appointments Committee of
  Cabinet led by Prime Minister Narendra Modi has cleared the appointment of Asthana,
  a 1984 batch IPS officer of Gujarat cadre, as Additional Director in the
  central probe agency, an order issued by Department of Personnel and Training
  said.
• His batchmate Y C Modi, who has
  been part of Supreme Court-appointed Special Investigation Team that probed
  2002 Gujarat riots cases, is already working as another Additional Director in
  the CBI.

• GoJavas has appointed Amitabh
  Coomar, a former divisional manager for brand marketing at ITC, as its CEO,
  while its chief operating officer Vijay Ghadge has quit the company, according
  to a statement by the ecommerce logistics firm.
• Ghadge, who cofounded QuickDel
  Logistics, which acquired GoJavas in 2013 from Jabong, has moved on to join a
  startup in stealth mode, according to a person aware of the development.

• Iceland ruling coalition on 6
  April 2016 named Sigurdur Ingi Johannsson as the Prime Minister of the country.
  The coalition also decided to hold elections in the autumn.
• Earlier, the polls were scheduled
  to take place in the spring of 2017.
• He will succeed Sigmundur
  Gunnlaugsson who resigned on 5 April 2016 after his name was the leaked in the
  Panama Papers. The leaked documents from a Panamanian law firm, Mossack
  Fonseca, showed Gunnlaugsson owned an offshore firm with his wife that held
  millions of dollars in debt from failed celandic banks.
• Johannsson, 53, is Agriculture
  and Fisheries Minister and deputy leader of the Progressive Party (PP).

• World Health Day (WHD) 2016 was
  observed globally on 7 April 2016. The theme for the year is Halt the Rise:
  Beat Diabetes.

• Scale up prevention
• Strengthen care
• Enhance surveillance

• Reliance Industries director Nita
  Ambani and State Bank of India chairman Arundhati Bhattacharya have been ranked
  top two in Forbes’ “Asia 50 Power Businesswomen 2016” list, which
  acknowledges the inroads women are making in the business world, despite gender
  inequalities.
• Including Ambani and
  Bhattacharya, eight Indian businesswomen have made the cut in the latest list
  who among them bring to the table representations from diverse business fields
  — banking, bio-tech, data analytics, textiles, pharma and even wellness and
  beauty.

• Arundhati Bhattacharya, Chairman,
  SBI
• Chanda Kochhar, managing
  director, ICICI Bank
• Kiran Mazumdar-Shaw, chair,
  Biocon
• Vandana Luthra, vice chair, VLCC
  Health Care
• Vinita Gupta, chief executive,
  Lupin
• Dipali Goenka, chief executive,
  Welspun India
• Ambiga Dhiraj, chief executive,
  Mu Sigma

• The World Health Organisation
  (WHO) on 6 April 2016 released its first Global Report on Diabetes. The report
  was released to mark the World Health Day 2016 that was celebrated on 7 April
  with the theme – Beat Diabetes.
• The report underscored the
  enormous scale of the diabetes problem across the world and suggested various
  measures to reverse current trends.

• Global Burden: Globally, an
  estimated 422 million adults were living with diabetes in 2014, compared to 108
  million in 1980.
• Over the past decade, diabetes
  prevalence has risen faster in low and middle-income countries than in
  high-income countries.
• If post-2000 trends continue, the
  probability of meeting the global target of halting the rise in the prevalence
  of diabetes by 2025 at the 2010 level worldwide is lower than 1 percent for men
  and is 1 percent for women.

• Indian men won the 2016 Asian
  Nations Cup Chess tournament with a 3-1 victory over Vietnam in the final round
  played in Abu Dhabi on 6 April 2016.
• In the final round match against
  Vietnam, Grandmasters S P Sethuraman and K Sasikiran won on the second and
  fourth boards while B Adhiban and Vidit Santosh Gujrathi drew their respective
  matches on top and third boards.
• To clinch the title, India
  collected 17 points, two more than World and Olympiad champions China. India
  drew Mongolia and beat the rest of the teams in a 22-team tournament.

Regards

Team ExamPundit

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