Current Affairs Update – 14th June, 2016

Hello and welcome to exampundit. Here are the important Current Affairs of 14th June, 2016. These are important for the upcoming SBI PO and SBI Clerk Mains 2016 Exams.

• The Reserve Bank of India (RBI)
  on 13 June 2016 issued the guidelines on
  the Scheme for Sustainable Structuring of Stressed Assets.
• The guidelines were issued with
  an aim to further strengthen the lenders’ ability to deal with stressed assets
  and to put real assets back on track.

• RBI formulated the Scheme for
  Sustainable Structuring of Stressed Assets (S4A) as an optional framework for
  the resolution of large stressed accounts.
• The S4A envisages determination
  of the sustainable debt level for a stressed borrower.
• It also envisages bifurcation of
  the outstanding debt into sustainable debt and equity/quasi-equity instruments
  which are expected to provide upside to the lenders when the borrower turns
  around.
• In order to make sure that that
  the entire exercise is carried out in a transparent and prudent manner, S4A
  envisages that the resolution plan will be prepared by credible professional
  agencies.
• An Overseeing Committee, set up
  by the Indian Banks Association, comprising of eminent experts will
  independently review the processes involved in preparation of the resolution
  plan for reasonableness and adherence to the provisions of these guidelines.
• The scheme is applicable to those
  projects that have started commercial operations and have outstanding loan of
  over 500 crore rupees.

• Singapore Telecommunications
  (Singtel) and Bharti Airtel have joined hands to deliver high-speed, secure
  data network coverage to Asia-Pacific, West Asia, Africa, Europe and the US.
• Both have combined their
  resources into one network to provide high speed data connectivity to 325
  cities across the world through 370 Points of Presence (PoP). This will form
  one of the largest Internet Protocol Virtual Private Networks (IP VPN)
  globally.
• Together, Singtel’s 200 PoPs in
  160 cities around the world and Airtel’s 170 plus PoPs in 165 cities across
  India, Africa and West Asia, will form a new network that offers a connectivity
  backbone to enterprises, which spans several continents: Asia, Europe, Africa
  and North America.

• India recorded a decadal low in
  combined public-private investments in 2015, in line with a contraction seen in
  other emerging economies such as China and Brazil, the World Bank has said.
• “India recorded a 10-year
  low in investments, as only six road projects, usually a rich source of PPI
  over the past 10 years, reached financial closure,” the World Bank said in
  its latest annual report – Private Participation in Infrastructure Database – released
  here on Monday.
• The report said global investment
  in 2015 decreased to $111.6 billion, going below the five-year average of $124.1
  billion from 2010 to 2014.
• “This contraction resulted
  from lower investments in Brazil, China and India,” the World Bank said,
  adding that global private infrastructure investment in 2015, though on par
  with the previous year, was 10% lower than the previous five-year average
  because of falling commitments in China, Brazil, and India.

• India and Ghana on 13 June 2016
  signed three bilateral agreements to strengthen co-operation in varied fields.
  The agreements were signed during the first ever visit of President Pranab
  Mukherjee to Ghana, a nation on West Africa’s Gulf of Guinea.

• The three agreements signed with
  Ghana included one for visa waivers for holders of diplomatic and official
  passports and one for setting up a Joint Commission.
• The commission will periodically
  review various aspects of the multi-dimensional relationship between the two
  countries. A mutually convenient date for its first meeting will be decided
  later.
• The third agreement was for
  collaboration in diplomatic training between the Indian Foreign Service
  Institute and a Ghanaian institute of the same standing.

• India is the largest foreign
  investor in Ghana today, with more than 700 projects. More than 222 of these
  projects are in the manufacturing sector.
• Bilateral trade between India and
  Ghana has increased to 1.2 billion US dollars from 538 million US dollars in
  2010.

• Ranu Langthasa was unanimously
  appointed as the chairperson of the North Cachar Hills Autonomous Council
  (NCHAC) in Assam on 13 June 2016.
• With this, she also became the
  first women chairperson to be appointed to the post since the formation of
  Autonomous Council in 1950s.
• The NC Hills Autonomous Council
  can be described as a state in miniature having all the paraphernalia of a
  Government like Legislative, Executive and Judiciary.
• On the 29 April 1952, the Dima
  Hasao District Council came into being as an autonomous body under the
  provision of the Sixth Schedule of the Constitution of India.

• Xerox Corp said on Tuesday Ashok
  Vemuri will become the chief executive of its business process outsourcing unit
  after the company splits into two publicly traded entities.
• Vemuri, who previously headed IT
  services provider IGATE Corp from September 2013 to October 2015, will join
  Xerox effective July1.
• While at IGATE, Vemuri led the
  company’s sale to French rival Cap Gemini SA for $4 billion. He has previously
  worked at Infosys Ltd in various roles for 14 years.

• Justice Rakesh Ranjan Prasad, the
  senior-most Judge of the Manipur High Court on 13 June 2016 assumed charge of
  the Chief Justice of the High Court.
• He succeeded Justice Laxmi Kanta
  Mohapatra who relinquished the office on 9 June 2016.
• Earlier on 9 February 2016,
  Justice Prasad was transferred from Jharkhand High Court to Manipur High Court.
  He was transferred by President of India in exercise of the powers conferred by
  clause (1) of article 222 of the Constitution of India.
• Clause (1) of Article 222 of the
  Constitution empowers the President to transfer a judge from one high court to
  other high court, which can be done after consultation with the Chief Justice
  of India.

• UEFA, the European football’s
  governing body, has ordered ‘suspended disqualification’ to Russia following
  crowd disturbances and racist behaviour by fans during the country’s 1-1 draw
  in the opening match of the European Championship against England.
• The UEFA has also slapped a fine
  of 150,000 Euros at the Russian Football Union.
• Issuing a warning, UEFA said that
  Russia would be kicked out of the championship if its fans cause one more
  incident of stadium trouble during the tournament, Sport24 reported.
• The European football’s governing
  body also held Russia responsible for the Saturday’s incident where the Russian
  fans forced their way through security barriers and went on to attack England
  supporters after the full time.

• The Indian men’s 4x400m relay
  team on 12 June 2016 created a new national record, clocking 3:02.17 at the
  International Sprint and Relay Teams Cup at Erzurum, Turkey.
• The team improved the previous
  record of 3:02.62 set at the 1998 Asian Games in Bangkok.
• On the other hand, the Indian
  women’s 4x400m relay team clocked 3:30.16 and jumped to world No 12 in the
  rankings. In the 2016 South Asian Games, the women’s relay team finished the
  race with a timing of 3:35.44 to win the gold. They also recorded their fastest
  time of 3:29.08 in the 2016 IAAF World Championships which took place in
  Beijing.

• Mercedes racing driver Lewis
  Hamilton of Britain on 12 June 2016 won the Formula 1 Canada Grand Prix title.
• To win the title, he overcame
  Ferrari driver Sebastian Vettel in the final race held in Montreal, Canada.
• For Hamilton, the present win in
  Montreal was the fifth in his career and the second in a row. His previous
  titles were secured in 2007, 2010, 2012 and 2015.
• In the 2016 season, it was the
  second title for him as he already secured the Monaco Grand Prix on 29 May
  2016.

• The U.N. General Assembly elected
  Israel to chair one of its six major committees for the first time on Monday, a
  decision denounced by the Palestinians and Arab nations.
• In the secret ballot election in
  the 193-member world body, Israel received 109 “yes” votes. Nobody voted
  against Israel but there were 23 abstentions, 14 invalid ballots, and 43 votes
  for other countries in the Western European and Others group which nominated
  Israel to chair the assembly committee dealing with legal issues.
• The legal committee deals with
  U.N. activities related to international law and the Israeli Ambassador said
  one of his first tasks will be to advance the Comprehensive Convention on
  International Terrorism.
• Israel, the United States and
  others have for years decried what they see as an entrenched bias in United
  Nations institutions against Israel and an obsession with the Palestinian issue
  at the expense of other crises around the globe. They point to numerous
  resolutions targeting Israel in the Geneva-based Human Rights Council and in
  the General Assembly.

Regards

Team ExamPundit