Current Affairs Update – 13th to 16th August, 2016

Hello and welcome to exampundit . Here are the important Current Affairs from 13th to 16th 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 – 13th to 16th August, 2016
  1. The Union Bank of India (UBI) on 12 August 2016 launched an Unstructured Supplementary Service Data
    (USSD) based *99# Mobile Application for their customers for basic banking
    needs
    . It was launched in partnership with National Payments Corporation
    of India (NPCI), the umbrella organisation for all retail payments system in
    the country.
  2. Bihar today ratified the Goods and Services
    Tax (GST) constitution amendment Bill
    , becoming the second state,
    and the first non-Bharatiya Janata Party (BJP) ruled state, to do so.
  3. Hindustan Copper Limited (HCL)
    on 10 August 2016 inaugurated the Nickel,
    Copper and Acid Recovery Plant of Hindustan Copper Limited at Indian Copper
    Complex, Ghatsila in Jharkhand
    .
  4. The India Nuclear Insurance Pool (INIP) on 12 August 2016 unveiled
    India’s first Nuclear Suppliers’ Insurance Policy
    . New India
    Assurance Company Limited
    and INIP will issue the policy and
    administer the claims on behalf of the pool.
  5. The Union Government on 12 August
    2016 constituted the National Committee on Trade Facilitation (NCTF). The
    committee seeks to develop the pan-India road map for trade facilitation as per
    the Trade Facilitation Agreement (TFA) of the World Trade Organisation (WTO). At
    the apex level, it will be headed by the Union Cabinet Secretary Pradeep Kumar Sinha.
  6. Manjula Chellur was on 12 August 2016 appointed as Chief Justice of the Bombay High Court with effect
    from 24 August 2016. Presently, she is the Chief Justice of the Calcutta High
    Court.
  7. In a bid to maintain transparency
    and ensure quick payment of dues, the Odisha government
    has decided to make Aadhar Card mandatory for procurement of paddy in the state
    .
  8. The International Youth Day was celebrated across the
    world on 12 August 2016
    .
  9. The World Bio-Fuel Day was observed across the world
    on 10 August 2016
    .
  10. India’s top squash player Dipika Pallikal on 13 August 2016 won the Australian Open Squash women’s singles title in Melbourne.
  11. Usain Bolt on 14 August 2016 clinched gold in the 100-metre
    final in Rio de Janeiro, Brazil. With this win, Bolt became the first man to win the event three times at consecutive
    Olympic Games
    .
  12. Andy Murray of Great Britain on 14 August 2016 won the gold medal in men’s
    singles tennis category in Rio 2016 Olympic Games.

Finance/Banking/Industry –
UBI launched USSD based *99# Mobile Application for basic banking needs

  • The Union Bank of India (UBI) on
    12 August 2016 launched an Unstructured Supplementary Service Data (USSD) based
    *99# Mobile Application for their customers for basic banking needs.
  • It was launched in partnership
    with National Payments Corporation of India (NPCI), the umbrella organisation
    for all retail payments system in the country.
Highlights of the *99# mobile application

  • It can be downloaded in an
    android smartphone from the Google Play Store by the bank customers.
  • It can be used even without any
    internet connection as it does not require any data and is available in 10
    languages.
  • It provides basic banking
    facilities like checking account balance, sending money, Mobile PIN (MPIN)
    management.
  • Besides, it provides value added
    services like checking Aadhaar linked overdraft status and PMJDY account
    overdraft status.
Hindustan Copper Limited inaugurated nickel production facility in
Ghatsila

  • Hindustan Copper Limited (HCL) on
    10 August 2016 inaugurated the Nickel, Copper and Acid Recovery Plant of
    Hindustan Copper Limited at Indian Copper Complex, Ghatsila in Jharkhand.
  • This is the first facility in
    India to produce Nickel metal of LME grade from primary resource.
  • This project will utilize an
    eco-friendly technology and will check pollution by eliminating the use of
    lead.
  • It will have reduced liquid
    effluent, generate 75 percent less solid waste, utilize less energy, provide
    safe working environment and utilize and conserve natural resources.
  • At present the capacity of the
    plant is 50 MT per annum, considering the current production rate from the
    Surda mines.
  • The Nickel output is expected to
    increase by eight times after the completion of mine expansion projects located
    at Ghatsila.
India’s first Nuclear Suppliers’ Insurance Policy unveiled by INIP

  • The India Nuclear Insurance Pool
    (INIP) on 12 August 2016 unveiled India’s first Nuclear Suppliers’ Insurance
    Policy.
  • New India Assurance Company
    Limited and INIP will issue the policy and administer the claims on behalf of
    the pool.
  • The INIP has become the 27th such
    insurance pool in the world as countries such as France, Russia, South Africa
    and the U.S. have put in place such similar risk transfer mechanisms.
Features of India Nuclear Insurance Pool (INIP)

  • It will cover the risks of
    liability of nuclear operators and suppliers under Section 6(2) and Section 17
    of the Civil Liability for Nuclear Damages (CLND) Act, 2010 respectively.
  • It provides three types of
    policies viz., tier 1 policy for operators, tier 2 policy for turn key
    suppliers and tier 3 policy for suppliers other than turn key suppliers.
  • The pricing of premiums will
    depend on factors such as risk probability, possible severity of damage and exposure
    to people and property around nuclear installations.
Bihar becomes second state to ratify GST

  • Bihar today ratified the Goods
    and Services Tax (GST) constitution amendment Bill, becoming the second state,
    and the first non-Bharatiya Janata Party (BJP) ruled state, to do so. Last
    week, the legislative assembly of BJP ruled Assam had become the first state in
    the country to ratify the Bill. The Bill, passed by Parliament in its monsoon
    session, needs to be ratified by 16 of the 31 state assemblies to become law.
  • Bihar has a bicameral
    legislature. Today, the Bihar Assembly as well the Legislative Council
    unanimously ratified the Bill at a special one day session. The Bihar assembly
    session had concluded earlier this month, but Bihar Chief Minister Nitish Kumar
    had assured Finance Minister Arun Jaitley in a telephonic conversation that his
    state would ratify the constitution amendment Bill at the earliest.
  • The Bihar government, which has
    lost revenue after implementing prohibition since April 1, has hopes that the
    tax reform would bring more revenue to the state coffers.
Union Government constituted National Committee on Trade Facilitation

  • The Union Government on 12 August
    2016 constituted the National Committee on Trade Facilitation (NCTF).
  • The committee seeks to develop
    the pan-India road map for trade facilitation as per the Trade Facilitation
    Agreement (TFA) of the World Trade Organisation (WTO).
  • Earlier, on 22 April 2016, India
    ratified the TFA which is an outcome of the Bali Package 2013 or Ninth
    Ministerial Conference of the WTO.
Features of NCTF

  • It is an inter-ministerial body
    on trade facilitation.
  • It will act as a national level
    body that will facilitate domestic co-ordination and implementation of TFA
    provisions.
  • It will play lead role in
    developing the pan-India road map for trade facilitation.
  • It will synergise the various
    trade facilitation perspectives across the country.
  • The focus will be on outreach
    programmes for sensitization of stakeholders about it.
  • The committee will also be
    responsible for identifying the nature of required legislative changes and
    spearheading the diagnostic tools needed for assessing compliance to TFA.
  • It will have a 3-tier structure
    with main national committee for monitoring implementation of TFA.
  • At the apex level, it will be
    headed by the Union Cabinet Secretary Pradeep Kumar Sinha.
India –
Odisha government to make Aadhar Card mandatory for procurement of
paddy

  • In a bid to maintain transparency
    and ensure quick payment of dues, the Odisha government has decided to make
    Aadhar Card mandatory for procurement of paddy in the state.
  • In a meeting at the state
    secretariat in Bhubaneswar held on 11 August 2016, it was decided to link
    Aadhaar cards of farmers to the cooperative banks and the peasants’ accounts
    for online transfer of cost of paddy to be procured from the coming kharif season.
  • Both farmers and sharecroppers
    would link their Aadhaar cards for online payment of paddy cost. This apart,
    the government has also decided to link Aadhaar numbers of beneficiaries for
    availing ration under National Food Security Scheme and work under MG-NREGA.
  • So far 68 percent people have
    already availed Aadhar Card and others would be provided with the same before
    November 2016.
Nagaland government to grant 33% reservation to women in Urban Local
Bodies

  • The Nagaland Government on 10
    August 2016 decided to grant 33 percent reservation to women in Urban Local
    Bodies (ULBs). The decision was taken during a cabinet meeting held in Kohima.
  • The decision was announced by the
    Chief Minister TR Zeliang during the State Level Watershed Conference held in
    Kohima.
  • Zeliang however said the state
    has not been able to avail the annual developmental funds granted by the Centre
    for ULBs, which was a big loss.
  • Elections to the state ULBs have
    been pending for several years as the tenure of the first municipal bodies came
    to an end between December 2009 and March 2010.
  • Zeliang said the Joint Action
    Committee on Women Reservation of the Naga Mothers’ Association was fighting in
    the Supreme Court for 33 percent women reservation, which has also led to
    withholding of the elections to the ULBs.
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Appointments –
Manjula Chellur appointed as Chief Justice of Bombay High Court

  • Manjula Chellur was on 12 August
    2016 appointed as Chief Justice of the Bombay High Court with effect from 24
    August 2016. Presently, she is the Chief Justice of the Calcutta High Court.
  • She succeeds DH Waghela, who
    retired as Chief Justice of the Bombay High Court on 10 August 2016. Waghela
    held the post for a brief six months.
  • Chellur will be only second woman
    Chief Justice of the Bombay High Court after Sujata Manohar who served the
    office in 1994. She is scheduled to retire in 2017.
Sports –
Dipika Pallikal wins Australian Open Squash 2016 title

  • India’s top squash player Dipika
    Pallikal on 13 August 2016 won the Australian Open Squash women’s singles title
    in Melbourne.
  • To win the title, the top seed
    Dipika defeated eighth seed Mayar Hany of Egypt 10-12, 11-5, 11-6, 11-4 in the
    40-minute final.
  • For Dipika, this was the first
    title win in 2016. Earlier, in February 2015, she won the Winnipeg Winter Open
    in Canada.
Usain Bolt wins gold in men’s 100 meters in Rio Olympics

  • Usain Bolt on 14 August 2016
    clinched gold in the 100-metre final in Rio de Janeiro, Brazil.
  • With this win, Bolt became the
    first man to win the event three times at consecutive Olympic Games.
  • Bolt won the race in 9.81
    seconds, followed by USA’s Justin Gatlin at 9.89 seconds and Canada’s Andre De
    Grasse at a personal-best 9.91 seconds.
  • De Grasse is also the first
    Canadian male athlete to win a medal in Rio.
Andy Murray of Great Britain won gold in Rio 2016 Olympic Games

  • Andy Murray of Great Britain on
    14 August 2016 won the gold medal in men’s singles tennis category in Rio 2016
    Olympic Games.
  • To win the title, he defeated
    Argentina’s Juan Martin Del Potro 7-5 4-6 6-2 7-5 in the final match held at
    the Olympic Tennis Centre in Rio de Janeiro, Brazil.
  • With the win, he retained the
    medal and became the first player to win two men’s singles tennis gold medals
    in Olympics.
  • For him, it was also the 18th
    straight victory following his second Wimbledon title in July 2016.
  • For Del Potro, the silver medal
    winner, it was his second Olympic medal after a bronze at the 2012 London
    Games.
Anita Wlodarczyk breaks world record to win gold in Hammer Throw

  • Poland’s Anita Wlodarczyk on 15
    August 2016 broke her own women’s hammer world record to win the gold medal at
    the Rio Olympics.
  • Wlodarczyk’s winning mark was
    82.29m.
  • China’s Wenxiu Zhang won the
    silver medal with a mark of 76.75m. Sophie Hitchon of Great Britain earned the
    bronze medal.
World –
China launches World’s first Quantum Communication Satellite

  • China on 16 August 2016 launched
    the world’s first quantum satellite named Quantum Experiments at Space Scaler
    (QUESS) satellite. The satellite was launched from the Jiuquan Satellite Launch
    Centre in the remote northwestern province of Gansu.
  • The satellite will help establish
    hack-proof communications between space and the ground.
  • It is nicknamed Micius, after a
    5th century BC Chinese philosopher and scientist who has been credited as the
    first one in human history conducting optical experiments.
  • It is designed to establish
    hack-proof quantum communications by transmitting uncrackable keys from space
    to the ground.
  • It will enable secure
    communications between Beijing and Urumqi, the capital of China’s
    violence-prone far western region of Xinjiang.
Days –
International Youth Day celebrated on 12 August

  • The International Youth Day was
    celebrated across the world on 12 August 2016. The theme of the 2016
    International Youth Day is – The Road to 2030: Eradicating Poverty and
    Achieving Sustainable Consumption and Production.
  • This year’s Day is about
    achieving the 2030 Agenda for Sustainable Development.
World Bio-Fuel Day observed on 10 August

  • The World Bio-Fuel Day was
    observed across the world on 10 August 2016. The day is observed every year
    with an aim to create awareness about non fossil-fuels (Green Fuels).
  • On 10 August 1893, Sir Rudalph
    Diesel (inventor of the diesel engine) for the first time successfully ran
    mechanical engine with Peanut Oil.
  • His research experiment had predicted
    that vegetable oil is going to replace the fossil fuels in the next century to
    fuel different mechanical engines.
Obituaries –
Eminent Tamil Lyricist Na Muthukumar passes away

  • Eminent poet and lyricist Na
    Muthukumar passed away on 14 August 2016 in Chennai, Tamil Nadu following a
    brief illness. He was 41. He is survived by his wife, a son and a daughter.
  • He was known for his critically
    acclaimed literary work and Tamil film songs.

Regards

Team ExamPundit