Current Affairs Update – 10th December, 2015

Hello and welcome to ExamPundit. Here are the Important Current Affairs of 10th December, 2015. These are important for the upcoming IBPS Clerk Mains and Insurance Exams.

Finance/Economy
Luxembourg became the
10th country to ratify AoA of Asian Infrastructure Investment Bank
  • Luxembourg on 8 December 2015 became the 10th country to
    ratify the Articles of Agreement (AoA) that will lay the legal framework for
    the China-initiated Asian Infrastructure Investment Bank (AIIB).
  • Apart from Luxembourg, Australia, Austria, Brunei Darussalam,
    China, Mongolia, Nepal, New Zealand, Singapore and United Kingdom ratified the
    60-article agreement so far.
  • These 10 countries are among the 57 founder-member countries
    of the multilateral bank that has its headquarters in the Chinese capital
    Beijing.
  • Among the 57 founder-member countries, except the
    Philippines all other 56 countries have signed the AoA and 46 countries are yet
    to ratify it.

Union Cabinet
approved 4000 crore rupees proposal for shipbuilding industry
  • The Union Cabinet on 9 December 2015 approved a 4000 crore
    rupees proposal for introducing measures to encourage Shipbuilding and Ship
    Repair Industry in India.
  • The proposal will give a big boost to the shipbuilding and
    ship repair industry and will facilitate the Make in India initiative of the
    Union Government.

Highlights of the
proposal
  • To counter the cost-disadvantages, the government will grant
    a financial assistance of 20 percent of the contract price or the fair price,
    whichever is lower following the delivery of the ship.
  • The assistance will be reduced by 3 percent in every three
    years and will be given for all types of ships.
  • This policy will be in force for ten years. The
    implementation of this policy would require budgetary support of 4000 crore
    rupees over ten years.

ADB to lend $1 bn to
Power Grid Corp

  • Multilateral lending agency Asian Development Bank will
    provide $1 billion loan to central transmission utility Power Grid Corp for
    renewable energy transmission and grid expansion in India.
  • “ADB is to provide a $500 million government-backed
    loan and a further $500 million in nonsovereign lending to India’s national
    transmission company, Power Grid Corporation of India Limited,” ADB said
    in a statement here.
  • The funds will be used to build and upgrade high voltage
    transmission lines and substations in Rajasthan and Punjab, as part of the
    Indian government’s Green Energy Corridor initiative.
  • Earlier this year, India announced ambitious plans to
    achieve a national renewable energy target of 175 GW by 2022. About 90 per cent
    of this is expected to be generated from solar and wind sources which are concentrated
    in a few Indian states.
  • Investment in efficient, inter-state transmission
    infrastructure that can address the intermittency and timing differences of
    renewable energy is therefore critical in supporting expansion and optimal use
    of renewable energy in India.

India
ISRO to launch six
Singaporean satellites on December 16

  • India will be launching six Singaporean satellites weighing
    a total of around 625 kg on the evening of December 16th through its Polar
    Satellite Launch Vehicle (PSLV) rocket, a senior official said.
  • According to him, the major luggage for the PSLV rocket will
    be the earth observation satellite called TeLEOS, weighing around 400 kg.
  • ISRO will be flying the ‘core alone’ variant of the PSLV
    rocket. The rocket will not have the strap on boosters, its standard feature.
  • The December 16 mission will be the last rocket launch
    mission for ISRO in 2015.
  • Till date, in the 2015 calendar year, ISRO has launched 14
    satellites (3 Indian and 11 foreign) from its rocket port in Sriharikota.
    Thirteen satellites were launched with PSLV rocket and one communication
    satellite – GSAT-6-with geosynchronous satellite launch vehicle (GSLV).

2016: UK-INDIA Year
of Education, Research and Innovation launched

  • India and United Kingdom on 9 December 2015 launched a joint
    initiative 2016: UK-INDIA Year of Education and Research in New Delhi.
  • It was launched by visiting Secretary of State, Business
    Innovation and Skill of the UK Sajid Javid along with Human Resource
    Development (HRD) minister Smriti Irani.

Main Highlights of
2016: UK-INDIA Year of Education and Research
  • In 2016, it will allow UK academicians to come to India
    under Global Initiative of Academic Networks (GIAN) programme.
  • It will enhance partnership in research work in ten research
    priority areas under IMPRINT (IMPacting Research Innovation and Technology).

Jawaharlal Institute
of Postgraduate Medical Education and Research declared National Data Recovery

Centre for telemedicine

  • JIPMER, a premier medical institution in the Central sector
    in the Union Territory has been declared as a National Data Recovery Centre
    (NDRC) for telemedicine by the Health and Family Welfare Ministry.
  • JIPMER Director S C Parija in a statement said the Health
    Ministry had already declared it as a regional resource centre for telemedicine
    for all medical colleges in Andhra Pradesh, Karnataka, Kerala, Tamil Nadu, Puducherry
    and Telangana.
  • Fully equipped with infrastructure, it had been declared to
    be the NDRC for telemedicine, which would recover country’s data regarding
    telemedicine from the institute in the event of loss of data, he said.
  • Parija said the project would be supported by the Health and
    Family Welfare Ministry.

Operationalise
Organised Crimes Investigation Agency by 1 December 2016: SC
  • The Supreme Court on 9 December 2015 asked the Union
    Government to operationalise the Organised Crimes Investigating Agency (OCIA)
    by 1 December 2016. OICA will probe human trafficking cases across the nation.
  • The direction was given by Supreme Court bench headed by
    Justice AR Dave and comprising of Justice Madan B Lokur and Justice Kurian
    Joseph. Issuing these directions, the bench disposed of a PIL filed in 2004.
  • The bench also asked the Ministry of Women and Child
    Development to complete the consultation process in six months on the issue of
    making a comprehensible legislation to deal with issues like prevention, rescue
    and rehabilitation of the victims of trafficking for commercial and sexual
    exploitation.

Sports
Virat Kohli co-owns
Bengaluru team in Pro Wrestling League

  • Bengaluru Yodhas, the JSW Group owned franchise in the Pro
    Wrestling League, has announced India’s Test captain Virat Kohli as the
    co-owner of the team.
  • Kohli who led the Indian team to a 3-0 Test series victory
    over South Africa recently, is all set to take it #FromBatToMat with this
    association with the Bengaluru franchise.
  • The Pro Wrestling League, whose inaugural edition kicks off
    today (December 10) in New Delhi’s KD Jadhav stadium, pits six city-based
    franchises against one another in one of the richest freestyle wrestling
    tournaments in the world.
  • Kohli’s Bengaluru Yodhas will face Rohit Sharma’s UP
    Warriors in their opening fixture on, where the world will see the two
    cricketers as owners and in different dug outs.

Afghanistan board
signs MoU with Noida stadium

  • Afghanistan cricket team has shifted its home base from
    Sharjah to the UPCA stadium in NOIDA where they will play their matches and
    practice after a MoU was signed on Thursday in this regard.
  • According to the Memorandum of Understanding with BCCI and
    Greater Noida Industrial Development Authority, the Afghanistan Cricket Board
    (ACB) will be able to utilise the facilities of the Shaheed Vijay Singh Pathik
    Sports Complex, which has successfully hosted a Ranji Trophy game between Uttar
    Pradesh and Baroda.
  • BCCI Secretary Anurag Thakur, who also signed the MoU papers
    in presence of UPCA Secretary Rajeev Shukla, not only gave the new ground big
    thumbs up but also complimented the Afghanistan team for its recent success.

ICC announces OPPO as
Global partner

  • The International Cricket Council (ICC) has announced an
    exciting new global partnership with OPPO, a leading mobile telephone device
    companies, on a four-year deal which runs from 2016 until 2020.
  • Launched in China in 2004, OPPO has a strong presence in
    more than 20 countries, including Australia, China, USA and right across
    Africa, Europe, the Middle East, South Asia and Southeast Asia.
  • Commenting on the new partnership, ICC Chief Executive David
    Richardson said: “The ICC is delighted to welcome OPPO on board as a Global
    Partner and we are excited about the opportunity to team up for the next four
    years.

Mahela Jayawardene
awarded honorary lifetime membership of MCC
  • Former Sri Lanka captain Mahela Jayawardene on 9 December
    2015 was awarded with an honorary life membership of the Marylebone Cricket
    Club (MCC).
  • MCC awarded the honorary life membership of the club to
    recognise Jayawardene’s stellar career in which he played 149 Test matches and
    scored 11814 runs at an average of 49.84.
  • Jayawardene became the 14th Sri Lankan to be awarded with
    MCC Honorary Life Membership. Kumar Sangakkara, Muttiah Muralitharan and
    Chaminda Vaas were awarded with the same. 

Days
Human Rights Day
observed across the world

  • Human Rights Day was on 10 December 2015 observed across the
    world.  It aimed to promote and raise
    awareness of the two Covenants of Human Rights Day- International Covenant on
    Economic Social and Cultural Rights (ICESCR) and the International Covenant on
    Civil and Political Rights (ICCPR).
  • On the occasion of the day that marks 50th anniversary of
    these two International Covenants, the United Nations (UN) Human Rights Office
    launched Our Rights. Our Freedoms. Always, a year-long campaign to shine a
    light on the inalienable and inherent rights of global citizens.

Appointments
FreeCharge appoints
Anshul Kheterpal as CFO

  • Digital payments platform FreeCharge today announced the
    appointment of Anshul Kheterpal as its chief financial officer.
  • In his new role, Anshul will help craft strategies for the
    payments business at FreeCharge and Snapdeal and closely work with the senior
    leadership teams to strengthen the digital payments business, FreeCharge said
    in a statement.
  • In April, Snapdeal had announced the acquisition of FreeCharge.
  • Prior to the appointment at FreeCharge, Anshul was CFO and
    Principal Officer of Airtel Money.

Kapil Chopra to head
world tourism council

  • Kapil Chopra, President, The Oberoi Group, has been
    appointed as the Chairman of World Travel & Tourism Council, India
    Initiative (WTTCII) for 2016, a statement from the hotel group said on
    Thursday.
  • The Annual General Meeting of the WTTCII was held on December
    9. Chopra, who served as the council’s Vice-Chairman for 2015, takes over from
    Manav Thadani, Chairman, HVS, South Asia.
  • Ashwani Lohani, Chairman & Managing Director, Air India,
    has been appointed as the Vice-Chairman of WTTCII for 2016.

Prakash Kumar Singh
takes charge as SAIL Chairman
  • Prakash Kumar Singh has taken charge as Chairman, Steel
    Authority of India Ltd (SAIL), the public sector undertaking said in a
    statement on Thursday.
  • Prior to this, 57-year-old Singh was the CEO of SAIL’s
    Durgapur Steel Plant. In July 2015, he was also given the additional charge of
    CEO, IISCO Steel Plant.
  • An alumnus of IIT, Roorkee in Metallurgical Engineering, he
    started his career in Bokaro Steel Plant in 1980, the statement added.

Reports
UNCTAD released
Handbook of Statistics 2015

  • The United Nations Conference on Trade and Development
    (UNCTAD) on 8 December 2015 released Handbook of Statistics 2015. The annual
    publication provided a collection of statistics and indicators relevant to the
    analysis of international trade, investment and development for 2014.
  • As per the handbook, the total global exports for 2014 were
    valued at 24 trillion US dollars, up by 1.2 per cent compared with 2013.
  • And, India’s total merchandise export for 2014 was valued at
    321 billion US dollars against 314 billion US dollars in 2013.

Highlights of
Handbook of Statistics 2015
  • Total exports from developed economies accounted for 55 per
    cent (13.2 trillion US dollars) of total global trade.
  • Developing economies accounted for 41 per cent (10 trillion
    US dollars) of total exports with transition economies accounting for the
    residual 890 million US dollars, or 4 per cent, of exports.

ADB released Asian
Economic Integration Report 2015

  • Asian Development Bank (ADB) on 8 December 2015 released a
    report entitled Asian Economic Integration Report 2015: How Can Special
    Economic Zones Catalyze Economic Development?
  • The report examined current trends in trade, finance,
    migration, remittances and other economic activities in the region, with a
    special chapter on the role of special economic zones (SEZs).

Key findings of
the report
  • Asia’s income elasticity of trade declined from 2.69 before
    the global financial crisis (2008-09) to 1.30 in 2015.
  • The value of Asia’s intermediate goods trade—almost 60
    percent of total trade—contracted 2.6 percent in 2014.
  • Structural factors for the above decline include a general
    trend of rebalancing away from export and investment toward consumption and
    services.

World
World’s 1st
anti-dengue vaccine ‘Dengvaxia’ approved in Mexico

  • At a time when India is struggling with rising number of
    dengue cases with each passing year, the Mexican government has approved the
    world’s first anti-dengue vaccine which is designed to protect people in the
    9-45 age group from nine to 45 years from all four subtypes of the virus.
  • Called Dengvaxia, the vaccine has been developed by
    France-based Sanofi Pasteur and is the result of an extensive clinical
    development programme running for almost two decades.
  • While dengue affects nearly 400 million people in endemic
    areas, mostly in tropical and subtropical countries in Latin America and Asia,
    India saw one of the worst outbreak of the deadly disease this year with 32
    deaths recorded in New Delhi alone till October.
  • With the total number of dengue cases in the capital
    reaching over 12,000 in October, Delhi recorded the highest number of patients
    of the viral disease in 19 years, according to health authorities.
  • Even as Dengvaxia has become the first vaccine to be
    licensed in the world for the prevention of dengue, the dengue toll in West
    Bengal has touched 12 with the last death reported on November 5, according to
    state health officials.

IISc Banglore bagged
solar panel research and development contract from US Military
  • The prestigious Indian Institute of Science (IISc) Banglore
    on 9 December 2015 bagged a US military contract for research and development
    on solar powered micro-grid.
  • It is one of the rare instances that an Indian scientific
    institute has been awarded a federal contract by the US military.

Highlights of the
contract
  • The federal contract worth 52900 US dollars was awarded by
    the US Pacific Air Forces, Yokota Air Base in Japan.
  • The contract is awarded to develop solar powered micro-grid
    with battery and supercapacitor energy storage system.



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