Current Affairs Update – 19th July, 2016

• The government on Tuesday
  provided Rs. 22,915 crore capital to 13 PSU banks including SBI, PNB and IOB to
  enhance their lending operations and enable them to raise more money from the
  market.
• This is the first tranche of
  capital infusion for the fiscal and more funds would be provided in future
  depending upon the performance of PSU banks, a Finance Ministry statement said.
• Out of the Rs. 22,915 crore,
  State Bank of India (SBI) received Rs. 7,575 crore followed by Indian Overseas
  Bank (Rs. 3,101 crore) and Punjab National Bank (Rs. 2,816 crore).
• The other lenders, which have
  received capital infusion are Bank of India (Rs. 1,784 crore), Central Bank of
  India (Rs. 1,729 crore), Syndicate Bank (Rs. 1,034 crore), UCO Bank (Rs. 1,033
  crore), Canara Bank (Rs. 997 crore), United Bank of India (Rs. 810 crore),
  Union Bank of India (Rs. 721 crore), Corporation Bank (Rs. 677 crore), Dena
  Bank (Rs. 594 crore) and Allahabad Bank (Rs. 44 crore).
• The capital infusion exercise for
  the current fiscal is based on an assessment of need as assessed from the
  compounded annual growth rate (CAGR) of credit growth for the last five years,
  banks’ own projections of credit growth and an objective assessment of the
  potential for growth of each PSBs, the Ministry said.

• The Indian government signed a
  three-point bilateral agreement with the US government aiming to harness new
  technologies in the hydrocarbon sector.
• The agreement was signed between
  Oil Minister Dharmendra Pradhan and US Secretary of Energy Dr Ernest Moniz in
  Washington.
• The two countries agreed to
  enhance institutional and technical cooperation in specific areas such as
  assessment and unconventional hydrocarbon reserves in India both onshore and
  offshore; new technologies in development of second generation bio-fuel and development
  of petroleum storage.
• The bilateral energy co-operation
  between India and US started in the form of energy dialogue in 2005 under which
  oil and gas. As part of the bilateral arrangements, Indian companies have also
  invested in shale oil and gas projects in the US, i.e. GAIL has 20% equity in
  Eagle Ford basin; IOC and OIL have 10% equity in Niobrara basin. GAIL already
  has signed contract for annual import of close to 5.8 MMT LNG from US by next
  year.

• American Ports have evinced a
  keen interest in comprehensive port-led development, especially the ambitious
  Sagarmala programme, Indian officials said as the Union Road Transport and
  Highways Minister Nitin Gadkari concluded his week-long trip here.
• Gadkari had a tour of the Port of
  Long Beach.
• During his meeting with
  officials, Gadkari explored joint-venture opportunities with India’s flagship
  container handling Jawaharlal Nehru Port to promote transfer of technology and
  enhance bilateral commerce.
• The Union minister offered
  investment opportunities in building and developing new ports, construction of
  new berths and terminals in existing ports, coastal economic zones, dredging,
  ship building, ship repairing, ship recycling, development of inland waterways
  and coastal and cruise shipping, he said.
• The Sagarmala programme, with 150
  projects, has the potential of mobilising $50-60 Billion of infrastructure
  investment and another $100 Billion of promoting industrial growth.

• The Netherlands and Uttar Pradesh
  on 14 July 2016 signed a Memorandum of Understanding (MoU) to set up a skill
  development centre to help farmers.
• The MoU would ensure that farmers
  get information on food processing as well as along with use of modern
  techniques to boost production of sugarcane, potato, dairy development and
  flowers.
• Besides, the Dutch government
  would also help in cleaning the Yamuna in Agra and in sewage treatment. Under
  this agreement, it would assist the state in solid waste management, urban
  development and infrastructure. It will also assist the state in water
  management, water supply, and cleanliness of water resources, sewage treatment,
  transport management and revival of water bodies.
• Other than this, the Netherlands
  would also help in land reclamation of 1500 acres in the Ganga basin in Kanpur
  and development of cultural heritage.
• As per official release, the MoU
  will remain operational for the next three years.

• The Central Board of Direct Taxes
  (CBDT) on 18 July 2016 signed seven Unilateral Advance Pricing Agreements
  (APAs) with Indian taxpayers. Some of the agreements also have a Rollback
  provision as well.
• The 7 APAs pertain to various
  sectors of economy like banking, Information Technology and Automotives. The
  international transactions covered in these agreements include software
  development Services, IT enabled Services, Engineering Design Services &
  Business Support Services.

• Japan’s Softbank on 18 July 2016
  agreed to acquire ARM Holdings, the U.K. based semiconductor firm, in a deal
  worth more than 32 billion US dollar.
• As part of its bid to bolster its
  presence in the growing internet of things (IoT) sector, Softbank will pay
  about 22.50 US dollar per share for ARM.
• The deal is the first major
  cross-border transaction in Britain since it voted to exit the European Union
  in June 2016.

• India’s first e-court was opened
  at High Court of Judicature at Hyderabad on 17 July 2016. It was inaugurated by
  Supreme Court judge Justice Madan B Lokur who heads the e-Committee of the
  Supreme Court.
• Hyderabad High Court is the
  common high court for the states of Andhra Pradesh and Telangana.

• The purpose of e-court is to
  ensure speedy justice for the litigants.
• The e-Courts will ensure easy and
  better access to justice for public.
• It will also provide solution for
  large number of pending cases in the country.
• It will also make the work of
  judges, advocates and all those related with judiciary a lot more effective.

• World Bank Group on 18 July 2016
  appointed Paul Romer as World Bank Chief Economist with effect from September
  2016. Romer is a widely respected economist and a successful entrepreneur.
• Romer will join the Bank at a
  critical time when the field of development is transforming under the forces of
  rapid technological change, globalization, and demography.
• As Chief Economist, Romer will
  support the President and the senior management in leading the institution and
  inspiring the development profession during this time of transformative change.

• Malcolm Turnbull on 19 July 2016
  was sworn in as the Prime Minister of Australia for another term.
• Turnbull was sworn in after a
  narrow election victory with budget repair and a public vote on same sex
  marriage among his top priorities.

• Abdul Wahid Tanveer of Team TVS
  on 17 July 2016 clinched the 2016 MRF MoGrip FMSCI National Rally Championship
  for two-wheelers, as he extended his run to the fourth round at the MRF Rally
  of Coimbatore in the six-round competition.
• Bengaluru-based Wahid, riding a
  TVS RTR 450, clocked 1 hour 02 min, 13 seconds to complete the challenging
  Special Stages set around the wind farms near the Kethanur (Palladam) area.
• The total distance of the route
  was approximately 145 km and total distance of the special stages was about 70
  km.

• The World Health Organisation on
  18 July 2016 released a report of 2015 Non-communicable Diseases (NCD) Global
  Survey.
• The report highlights the need to
  intensify national action to meet the global targets governments have agreed to
  protect people from heart disease, cancers, diabetes, and lung diseases.
• However, the global survey titled
  Assessing national capacity for the prevention and control of noncommunicable
  diseases shows that some countries are making remarkable progress.
• The Sustainable Development Goals
  agenda includes a target to reduce premature deaths from NCDs by 30 per cent by
  2030.
• Trends in national capacity for
  NCDs were derived from comparing the results of the 2015 survey with those from
  the capacity surveys conducted in 2013 and 2010.

• Globally, four NCDs, which are
  cardiovascular diseases, cancer, diabetes and chronic respiratory diseases,
  represent the largest cause of death in people aged under 70 years.
• In all, 91% of countries (177)
  responded to the survey.
• Only 23% of countries reported
  having a dedicated office, department, or administrative division within the
  ministry of health exclusively dedicated to NCD surveillance.

• Cancer, diabetes and heart
  diseases account for 55% of the premature mortality in India in the age group
  of 30-69 years.
• India is the first country to
  develop specific national targets and indicators aimed at reducing the number
  of premature deaths from NCDs by 25% by 2025.

• Legendary singer Mubarak Begum
  died at her residence in Mumbai on 18 July 2016 after a prolonged illness. She
  was 80.
• She is remembered for singing
  scores of songs, duets and ghazals for Bollywood, mainly during the
  1950s-1970s.

Regards

Team ExamPundit