Current Affairs Update – 13th July, 2016

Hello and welcome to exampundit . Here are the important Current Affairs of 13th July, 2016. These are important for the upcoming SBI PO Mains and UBI PO PGDBF 2016 Exams.

• State Bank of India (SBI) in the
  second week of July 2016 signed a Memorandum of Understanding (MoU) with the
  Indian Institute of Technology Society for Innovation and Entrepreneurship
  (SINE).
• The MoU was signed to promote
  innovation by start-ups in the financial sector.
• The deal also aims to help
  evaluate start-ups operating out of SINE or those being promoted by SINE for
  early stage funding within the bank’s norms.
• SINE is IIT Bombay’s technology
  business incubator.

• Both the parties will identify
  FinTech start-ups that have products or applications to cater to the financial
  sector and can help SBI explore opportunities to enhance the synergy for their
  banking services.
• SBI will provide a platform for
  testing/piloting such products/applications.
• SBI will also check for any
  specific business linkages.
• SBI will interact with the
  entrepreneurial and research community at IIT Bombay, including e- cell, Desai
  Centre, startups of SINE. The interaction will be done to get a better idea of
  the latest research being done, innovations and also conduct knowledge sessions
  for mutual benefit.
• If SBI decides to infuse funds in
  the start­ups, SINE may help the bank do initial screening for technical
  competency, impact of innovation etc.
• If SBI decides to infuse funds in
  any of the start-ups at SINE, the funding model will be considered on case to
  case and merit basis.

• In a bid to expand its operation
  on the domestic front and start its international operations, Go Air — the
  country’s third largest low cost airline — on Tuesday signed a memorandum of
  understanding (MoU) with French aircraft manufacturer Airbus for an order of 72
  A320 aircraft at the Farnborough International Airshow.
• This will take the total order
  book to 144 aircraft for the airline owned by the Wadia Group.
• The Mumbai-based airlines has an
  existing capacity of 20 aircraft and it needs only one more aircraft to make
  itself eligible for starting international operations.
• The airline has been planning to
  start its international operations for some time now and is expected to come
  out with an Initial Public Offering (IPO) later this year. Earlier this year the
  low cost airline took the delivery of two A320 Neo aircraft.

• Full service carrier Vistara and
  leading private sector lender Axis Bank today entered into a partnership to
  launch co-branded premium credit cards.
• While Axis Bank already has a
  similar tie-up with the German carrier Lufthansa, this is first of its kind with
  a domestic carrier for it.
• Under the partnership,the bank
  will offer three variants of contactless cards to its existing banking
  customers.
• The cards come with an annual fee
  of Rs. 1,500, Rs. 3,000 and Rs. 10,000 for the top-end variety and are aimed at
  corporate and leisure travellers and the members get free upgrades and other
  loyalty benefits on buying tickets with this cobranded card.

• India and Bangladesh on 12 July 2016
  signed a landmark deal for the construction of Rampal Power Station, a 1320
  megawatt coal fired power plant.
• The Rampal Power Station is the
  biggest project under bilateral cooperation.

• The Bangladesh-India Friendship Power
  Company Limited (BIFPCL), the joint venture enterprise, signed the deal with
  Bharat Heavy Electricals Limited (BHEL).
• BHEL was chosen under an open
  international tender for constructing the super thermal plant at Bangladesh’s
  southwestern Rampal near the Sundarbans.
• India’s Exim Bank will provide
  1.49 billion US dollars for the project.
• The project is scheduled to start
  generating power in 2019.

• Ashok Patnaik, a senior IPS
  officer, was today appointed as the CEO of NATGRID, a robust intelligence
  gathering mechanism being set up to track terror suspects and incidents.
• Patnaik, a 1983-batch Gujarat cadre
  officer, currently serving as Additional Director in the Intelligence Bureau,
  will be responsible for taking forward the government’s efforts to set up the
  highly sophisticated security set up, official sources said.
• Patnaik is the son-in-law of former
  Prime Minister Manmohan Singh.

• The book titled Ringside With
  Vijender authored by Rudraneil Sengupta released on 8 July 2016.
• The book, published by Juggernaut
  Books, throws light on the Beijing Olympics bronze medallist boxer Vijender
  Singh’s life post his transition to the world of pro boxing.
• The book also deals with the
  boxer’s sudden decision to turn pro just an year ahead of the Rio Olympics. It
  also offers an insight into his struggles, changes in his boxing style,
  training and his personal life.

• William H McNeill, the
  prize-winning scholar who wove the stories of civilizations worldwide into the
  landmark “The Rise of the West” and helped pioneer the history of disease and
  epidemics in “Plagues and People,” has died at age 98.
• McNeill died on Friday at his
  home in Torrington, Connecticut, according to Steve Koppes, associate news
  director at the University of Chicago, where McNeill was a professor emeritus.
• McNeill wrote more than a dozen
  books, notably “The Rise of the West,” published in 1963 and greeted by The New
  York Times as “the most stimulating and fascinating” work of world history ever
  released.

Regards

Team ExamPundit