Current Affairs Update – 13-14th June, 2015

Hello and welcome to ExamPundit. Here are the Important Current Affairs of 13th and 14th June, 2015. These are important for the upcoming SBI PO 2015 Mains Exam.

• With the government taking steps to improve ease of doing
  business and attracting investments, FDI inflows into the services sector grew
  by over 46 per cent to USD 3.25 billion in 2014-15.
• The services sector, which includes banking, insurance,
  outsourcing, R&D, courier and technology testing, had received foreign
  direct investment (FDI) worth USD 2.22 billion in 2013-14.
• However, the total foreign inflow in 2014-15 in the services
  sector was low as compared to 2012-13 when it was USD 4.83 billion, according
  to the Department of Industrial Policy and Promotion (DIPP) data.
• The government has announced a series of steps such as
  fixing timeliness for approvals to improve the ease of doing business in the
  country and attracting domestic as well as foreign investments.
• In step with the growth in FDI in important sectors like
  services, overall foreign inflows in the country too rose by 27 per cent to USD
  30.93 billion during the previous fiscal. The amount was USD 24.29 billion in
  2013-14.
• Services contribute about 60 per cent to India’s GDP and it
  receives high foreign inflows in this sector.

• The government has launched an insurance pool to the tune of
  Rs 1,500 crore which is mandatory under the Civil Liability for Nuclear Damage
  Act (CLND) in a bid to offset financial burden of foreign nuclear suppliers.
• This was announced by Minister of State in the Department of
  Atomic Energy Jitendra Singh here today, noting that several projects such as
  the long-pending Gorakhpur Haryana Anu Vidyut Pariyojna (GHAVP) that were held
  up in its absence, are now expected to move forward after setting up of the
  pool.
• Clauses in the CLND Act, which give the operator the Right
  to Recourse and allow it to sue the suppliers in case of any accident were seen
  as being a major hindrance to the growth of the nuclear industry. These
  concerns led to to the formation of the Indian nuclear insurance pool.
• Under the Rs 1,500 crore pool, set up by General Insurance
  Corporation of India (GIC Re) and 11 other non-life insurers including New
  India, Oriental Insurance, National Insurance and United India Insurance from
  the public sector apart from private insurance companies, policies offered will
  be a nuclear operators liability insurance policy and a nuclear suppliers’
  special contingency (against right to recourse) insurance policy.

• In move to cut debt at Anil Agarwal group, India’s largest
  private miner Vedanta Ltd will absorb oil firm Cairn India in a USD 2.3 billion
  all-share deal to create India’s largest diversified natural resources company.
• Shareholders in Cairn India, the country’s top private oil
  producer, will get one ordinary share and 7.5 per cent redeemable preference
  share of Vedanta Ltd with a face value of Rs 10.
• That implies a premium of 7.3 per cent to Cairn’s Friday
  closing price.
• Vedanta will use Rs 16,867 crore cash lying with Cairn to
  pay off part of its Rs 77,752 crore debt.
• Post-merger, London-listed parent Vedanta Resources Plc’s
  holding in Vedanta Ltd will drop to 50.1 per cent from 62.9 per cent.

• India and Australia will undertake their first joint naval
  exercise later this year even as the two along with Japan look at the
  possibility of a trilateral exercise, a move that will likely rile China.
• India, Japan and Australia have decided to deepen their ties
  in all sectors, especially in the field of maritime security, defence sources
  said.
• The trio had held their first-ever high-level trilateral
  dialogue here last week which was attended by Foreign Secretary S Jaishankar,
  Japanese vice foreign minister Akitaka Saiki and Australian secretary of the
  Department of Foreign Affairs and Trade, Peter Varghese.
• While they discussed a range of issues, maritime security,
  including freedom of navigation in the South China Sea and trilateral maritime
  cooperation in the Indian Ocean and Pacific Ocean, topped the agenda.

• Senior IAS officer Devendra Chaudhary has been appointed as
  Secretary in the Department of Administrative Reforms and Public Grievances
  (DARPG).
• Mr. Chaudhary, a 1981-batch IAS officer of Uttar Pradesh
  cadre, is presently working as Special Secretary in the Power Ministry. He will
  join DARPG as Special Secretary and take over as Secretary following the
  superannuation of incumbent Alok Rawat.
• The Appointments Committee of Cabinet has approved the
  appointment of Mr. Chaudhary as Special Secretary in DARPG through the
  temporary upgrading of the post of Additional Secretary in the Department, an
  official order said.
• Mr. Chaudhary will take over as Secretary of DARPG and
  Department of Pensions and Pensioners’ Welfare, Ministry of Personnel, Public
  Grievances and Pensions after Mr. Rawat relinquishes his charge upon
  superannuation, it said.
• Mr. Rawat, a 1977-batch Sikkim-cadre IAS officer, retires
  next month-end.

• Retail broking firm HDFC Securities has appointed Dhiraj
  Relli as its Managing Director and CEO.
• Relli takes over this position from Aseem Dhru, who returns
  to HDFC Bank as Group Head – Business Banking, Rural, Commodity and
  Agri-lending businesses.
• Relli has an experience of over two decades in the banking
  and financial management space. He joined HDFC Bank in 2008, before which he
  worked with Centurion Bank of Punjab and ICICI Bank.
• HDFC Securities, a subsidiary of HDFC Bank offers both
  retail and institutional broking with 250 branches and more than 1.5 million
  customers.

• Sangeet Natak Akademi on 12 June 2015 announced the names of
  recipients of Sangeet Natak Akademi fellowships (Akademi Ratna) 2014 and
  Sangeet Natak Akademi Awards (Akademi Puraskar) 2014.

• R. Janakiraman (Musicologist)
• S. Sathyu (film-maker)
• Vijay Kichlu (Classical singer)
• Tulsidas Borkar (Musician)

• In the field of music
  For Hindustani vocal- Ashwini Bhide Deshpande Nath Narelkar, Ustad Iqbal
  Ahmed Khan
• Hindustani
  instrumental music- Pandit Nayan Ghosh (tabla) and Ronu Majumdar (flute)
• Carnatic instrumental
  music– Neyveli Santhanagopalan (Carnatic vocal), TA Kaliyamurthy (Thavil),
  Sukanya Ramgopal (Ghatam) and Dwaram Durga Prasad Rao (violin)
• In the field of dance–
  Adayar Janardanan, Amusana Devi, Uma Dogra, Sudhakar Sahoo, Vedantam Radhesyam,
  Jagru Mahto, Anita Sharma, Varanasi Vishnu Namboothiri and Navtej Singh Johar
• In the field of drama–
  Asgar Wajahat, Surya Mohan Kulshreshtha, Chidambar Rao Jambe, Debshankar
  Haldar, Ramdas Kamath, Amod Bhatt, Manjunath Bhagwat Hostota and Amardas
  Manikpuri.
• In the field of
  Traditional/tribal music/folk/theatre/dance and puppetry– Puran Shah Koti,
  KKalamandalam Ram Mohan, Kesavasamy, Abdul Rashid Hafiz, Reba Kanta Mohanta,
  Ramdayal Sharma, K. Shanathoiba Sharma and Thanga Darlong

• Veteran West Indies fast bowler Sir Wesley Winfield Hall was
  on 12 June 2015 inducted into the ICC Cricket Hall of Fame. With this, he
  becomes 80th cricketer to be inducted in the ICC Cricket Hall of Fame and 18th
  from West Indies itself.
• Sir Wesley Hall had played 
  a total of 48 Tests in his one decade career spanning from 1958 to 1969.
  In his Test career, he took 192 wickets which included five wickets in an
  innings for 9 times and 10 wickets in a match on one occasion.

• Former Union minister Sheila Kaul, a sister-in-law of
  Jawaharlal Nehru and oldest surviving former Parliamentarian, died after brief
  illness at a hospital here. She was 101.
• A former Himachal Pradesh Governor, Kaul was unwell for the
  past few days and was admitted to Yashoda hospital last evening where she
  breathed her last at 8.00 PM.
• A five-time MP, Kaul was born on February 7, 1915. She was
  an arts graduate from Lahore Women’s College and had a degree in teaching from
  Sir Ganga Ram Training College, Lahore.
• She was married to renowned botanist Kailash Nath Kaul.
• Kaul is survived by sons Gautam Kaul, a retired IPS officer,
  and Vikram Kaul, an international sports administrator, besides daughter Deepa
  Kaul, a former information minister in Uttar Pradesh.

Regards

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