Current Affairs Update – 11th August, 2016

Hello and welcome to exampundit . Here are the important Current Affairs for 10th August, 2016. These are important for the upcoming RBI Grade B Phase I and BMSB & Bank of Maharashtra PGDBF PO Exams 2016.

Current Affairs at a Glance– 11th August, 2016

  1. Axis Bank and payments company Suvidhaa Infoserv, today launched ‘Nano Credit’ to offer
    pre-approved, instant and unsecured loans for the urban low income segment
    .
    The maximum loan amount is Rs 15,000 and is available to existing customers of
    Suvidhaa at 22,000 locations across the country.
  2. National Institution for Transforming India
    (NITI) Aayog
    on 10 August 2016
    signed agreement with United States (US) Energy Information Administration
    (EIA)
    to set up web portal on
    energy data.
  3. Gift card technology and prepaid
    solutions company Qwikcilver on Thursday, announced the appointment of former Reserve Bank
    executive director, G Padmanabhan as a
    strategic advisor
    .
  4. Microsoft today announced the
    appointment of Sriram
    Rajamani
    as new managing director of its India lab.
  5. Prime Minister Narendra Modi,
    President of Russia Vladimir Putin and Tamil Nadu Chief Minister J Jayalalithaa
    on 10 August 2016 dedicated Unit 1 of Kudankulam Nuclear Power Plant to the nation.
  6. Wipro Chairman Azim Premji and HCL co-founder Shiv Nadar are the only
    two billionaires from India in Forbes’ list of the world’s 100 richest people
    in technology
    , ranking in the top 20 ahead of Google boss Eric Schmidt and
    Uber CEO Travis Kalanick. The ‘100 Richest Tech Billionaires In The World 2016’
    list has been topped by Microsoft founder Bill Gates with an estimated fortune
    of  $78 billion. Premji ranks 13th on the list with a net
    worth of  $16 billion and Nadar comes in
    on the 17th spot
    with $11.6 billion of net worth. Two Indian-American
    technology czars Symphony Technology Group CEO Romesh Wadhwani and founders of
    IT consulting and outsourcing company Syntel Bharat Desai and his wife Neerja
    Sethi are also on the list.
  7. China on 10 August 2016 launched Gaofen-3
    Satellite
    , China’s first Synthetic Aperture Radar (SAR)  imaging satellite. The satellite was launched
    from the Taiyuan Satellite Launch Centre in northern Shanxi province on
    Wednesday.

Finance/Banking –
Axis Bank to offer small ticket unsecured loans jointly with Suvidhaa

  • Axis Bank and payments company
    Suvidhaa Infoserv, today launched ‘Nano Credit’ to offer pre-approved, instant
    and unsecured loans for the urban low income segment. The maximum loan amount
    is Rs 15,000 and is available to existing customers of Suvidhaa at 22,000
    locations across the country.
  • A customer who utilises
    Suvidhaa’s remittance or bill payment facilities can avail himself of loans up
    to Rs 15,000 with no paperwork within a few hours. This is possible because the
    customer’s details such as address proof, etc are already captured in Suvidhaa’s
    database and e-KYC is done using Aadhaar number.
  • The loan is disbursed in the form
    of a pre-paid card, which can be used at ATMs or point-of-sales. The interest
    rate is 14 per cent onwards and repayment term is 18 months. Axis Bank is also
    offering overdraft facility where the repayment is one year.
NITI Aayog ties up with US EIA to set up portal on energy data

  • National Institution for
    Transforming India (NITI) Aayog on 10 August 2016 signed agreement with United
    States (US) Energy Information Administration (EIA) to set up web portal on
    energy data.
  • The web portal will host all the
    data related to energy sector including oil & gas, coal, solar &
    thermal energy etc. NITI Aayog, a think tank of Union Government, is working to
    develop India’s energy data agency which will take 3-4 years to develop.
  • Niti Aayog also signed Statement
    Of Principle (SOP) with US Agency for International Development (USAID) and
    Department of Energy & Climate Change (DECC) of United Kingdom (UK) for
    collaboration in the area of energy research.
  • Through this agreement, the Aayog
    aims to host all the data related to energy sector in the country including oil
    and gas, coal, solar and thermal energy, much on the lines of the Energy
    Information Administration of US.
Appointments –
Qwikcilver ropes in ex RBI executive director G Padmanabhan as advisor

  • Gift card technology and prepaid
    solutions company Qwikcilver on Thursday, announced the appointment of former
    Reserve Bank executive director, G Padmanabhan as a strategic advisor.
  • Padmanabhan has 36 years of
    experience in banking and payments sector which includes his term as executive
    director at RBI, managing payment and settlement systems, foreign exchange
    department and information at RBI, a statement by Qwikcilver said.
  • As part of the advisory board,
    Padmanabhan will advise Qwikcilver on strategic direction, product guidance
    from a regulatory view point, and towards strengthening the corporate
    governance, regulatory compliance and risk management processes, Qwikcilver
    said.
Sriram Rajamani appointed MD of Microsoft’s India lab

  • Microsoft today announced the
    appointment of Sriram Rajamani as new managing director of its India lab.
  • Based in BENGALURU, he will
    spearhead Microsoft India’s continued focus on world-class research, innovation
    and collaboration with the scientific community, the company said in a release.
  • He replaces Chandu Thekkath, who
    was managing director of the lab for two years.
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India –
Unit 1 of Kudankulam Nuclear Power Plant dedicated to nation

  • Prime Minister Narendra Modi,
    President of Russia Vladimir Putin and Tamil Nadu Chief Minister J Jayalalithaa
    on 10 August 2016 dedicated Unit 1 of Kudankulam Nuclear Power Plant to the
    nation.
  • Besides, PM Modi announced that
    five more reactors of 1000 megawatt each will come up in the same location.
  • The reactors are being built jointly
    by Nuclear Power Corporation of India and Atomstroyexport company, a subsidiary
    of Rosatom (the regulatory body of the Russian nuclear complex).
  • The power plant is updated with
    most modern Russian technologies.
  • The first reactor of the plant
    attained criticality on 13 July 2013 at 11:05 P.M.
  • KKNPP was first synchronised to
    grid at 2:45 A.M. on 22 October 2013. Power generation from first nuclear
    reactor started on the same day.
List –
Azim Premji and Shiv Nadar in Forbes list of 100 richest tech tycoons

  • Wipro Chairman Azim Premji and
    HCL co-founder Shiv Nadar are the only two billionaires from India in Forbes’
    list of the world’s 100 richest people in technology, ranking in the top 20
    ahead of Google boss Eric Schmidt and Uber CEO Travis Kalanick.
  • The ‘100 Richest Tech
    Billionaires In The World 2016’ list has been topped by Microsoft founder Bill
    Gates with an estimated fortune of  $78
    billion.
  • Premji ranks 13th on the list
    with a net worth of  $16 billion and Nadar
    comes in on the 17th spot with $11.6 billion of net worth. Two Indian-American
    technology czars Symphony Technology Group CEO Romesh Wadhwani and founders of
    IT consulting and outsourcing company Syntel Bharat Desai and his wife Neerja
    Sethi are also on the list.
  • Forbes said Premji, who heads
    India’s third-largest outsourcer, Wipro has been on a buying spree in the past
    year to boost growth. Premji’s son Rishad, who heads strategy and sits on the
    board, also oversees Wipro’s $100 million venture capital fund.
  • Nadar co-founded HCL, which is
    reportedly mulling a US listing, Forbes said adding that Nadar also owns HCL
    TalentCare, a skills-development firm that provides training to new graduates.
    His latest venture is a $500 million fund to invest in start ups and US
    healthcare tech firms.
World –
China launches Gaofen-3 Satellite to get accurate images of earth

  • China on 10 August 2016 launched
    Gaofen-3 Satellite, China’s first Synthetic Aperture Radar (SAR)  imaging satellite. The satellite was launched
    from the Taiyuan Satellite Launch Centre in northern Shanxi province on
    Wednesday.
  • Gaofen-3 is  a high-resolution satellite for the
    protection of its maritime rights as the South China Sea dispute continues to
    simmer.
  • It is also China’s first low
    orbit remote sensing satellite that has a lifespan of eight years.
  • It will be used for disaster
    warning, weather forecasting, water resource assessments, and the protection of
    maritime rights.
Obituaries –
Legendary Pakistani batsman Hanif Muhammad passes away

  • Pakistan’s legendary former
    captain and batsman Hanif Muhammad, who held the record for the longest innings
    in Test cricket, passed away today after a prolonged battle with lung cancer.
  • He had earlier in the day, been
    declared clinically dead for around six minutes before he was revived back to
    life.
  • Hanif’s son Shoaib Muhammad had
    first announced from the hospital on various television channels that his
    father had passed away after losing a protracted battle with various ailments.
    But few minutes later it was clarified that Muhammad was still alive.

Regards

Team ExamPundit