Current Affairs Update – 20th February, 2016

Hello and welcome to ExamPundit. Here are the Important Current Affairs of 20th February, 2016. These are Important for the upcoming Bank and Insurance Exams.

• India and Nepal on Saturday inked
  seven memorandums of understanding (MoU)s. The MoUs were signed in the presence
  of Nepal Prime Minister K.P. Sharma Oli, who is on his first visit abroad after
  assuming office in October last year.

1. An MoU on utilization of USD 250
   million Grant component of GOI’s Assistance package for post-earthquake
   reconstruction assistance was signed the two countries.
2. The second MoU was strengthening
   of road infrastructure in the Terai area of Nepal.
3. The third MoU was signed between
   Nepal Academy of Music and Drama and Sangeet Natak Academy, India which aims to
   enhance relations between India and Nepal in the field of performing arts
   through exchanges of experts, exponents, dancers, scholars and intellectuals.
4. Then there were two letters of
   exchange on Transit Routes, one on transit between Nepal and Bangladesh through
   Kakarbitta-Banglabandh corridor and the second on operationalization of
   Vishakhapatnam Port.
5. There was also letters of
   exchange on Rail Transport, one on rail transport to/from Vishakhapatnam and
   the second on rail transit facility through Singhabad for Nepal’s Trade with
   and through Bangladesh.
6. The sixth MoU, which was the
   inauguration of Muzaffarpur-Dhalkebar transmission line was done by both Prime
   Minister Narendra Modi and his Nepalese counterpart.
7. The seventh agreement was the
   establishment of Eminent Persons Group which was decided to be established at
   the third meeting of the India- Nepal Joint Commission held at Kathmandu in
   July 2014.

• The Odisha Government today
  launched Pucca Ghar Yojana for construction workers.
• Launching the scheme, chief
  minister Naveen Patnaik announced that pucca houses will be built for 50,000
  construction workers during the current financial year with a cost of `500
  crore.
• A construction worker, registered
  with the Odisha Buildings and Construction Workers’ Welfare Board, for the
  three years can avail the benefit, he said.
• The chief minister said that out
  of the 12.6 lakh registered construction workers in the state, 2.5 lakh have
  received assistance of `90 crore from the state government. He said that the
  state government will provide assistance of `10 crore to over 25,000 registered
  construction workers during the year.
• The chief minister said memoranda
  of understanding (MoU) have been signed with Odia Workers’ Associations at
  Visakhapatnam, Bengaluru and Chennai for the welfare of the construction
  workers from the state.

• The first phase of Kerala’s dream
  SmartCity project, including a Rs 400-crore 6.5 lakh sq ft IT tower overlooking
  a 300 metre waterfront area, was inaugurated by Chief Minister Oommen Chandy and
  other dignitaries here today.
• The project is a joint venture of
  Dubai Holding and the state government.
• Besides Chandy, Union Minister
  for Skill Development, Rajiv Pratap Rudy, UAE Minister of Cabinet Affairs
  Mohammad Al Gergawi, Minister for Industries and IT and Chairman, SmartCity
  Kochi, P KKunhalikutty, Gulf-based Kerala business tycoon M A Yusuf Ali and top
  officials of SmartCity jointly inaugurated the first phase of SmartCity, which
  will provide 5,500 knowledge-based jobs.
• The launch of the 4.7 million sq
  ft phase-two was also performed simultaneously. It will be completed in 36
  months and provide 60,000 jobs.

• Distinguished scientist KN Vyas
  on Friday was appointed Director of Bhabha Atomic Research Centre (BARC), the
  country’s premier multi-disciplinary nuclear research centre.
• He succeeds Shekar Basu, who was
  in October appointed as Atomic Energy Secretary and Chairman of Atomic Energy
  Commission.
• The Appointments Committee of the
  Cabinet has approved Mr Vyas’ name for a period of three years, an order issued
  by the Department of Personnel and Training said.
• Mr Vyas, who has made outstanding
  contributions in the area of design and development of a novel fuel, is a
  recipient of the Science and Technical Excellence awards.
• He is currently working as the
  associate director at BARC, as per its website.
• The BARC is India’s premier
  nuclear research facility based in Mumbai.

• Christine Lagarde, who steered
  the IMF through some troubled times including the Eupropean financial crisis,
  has been re-appointed as its Managing Director for a second five-year term
  after an uncontested election.
• The Executive Board of the
  International Monetary Fund (IMF) on Friday selected 60-year-old Lagarde to
  serve as IMF Managing Director for a second five-year term starting on July 5,
  2016, IMF said in a statement. The Board’s decision was taken by consensus.
• France’s former finance minister
  secured early backing from many of the fund’s most powerful members when the
  IMF’s executive board launched the selection process in January, keeping other
  contenders from making an alternate bid and ensuring her a second term.

• Standard Chartered Securities
  India today announced the appointment of capital markets veteran Nitin Kapadia
  as its head and executive director.
• Kapadia has over two decades of experience
  in capital markets.
• He started his career as
  investment banker and moved on to set up and lead retail stock broking
  companies while also playing a significant part in business merger of a leading
  retail broking business.

• A US investigative body has
  decided to go ahead with its anti-dumping investigations into a certain
  category of tyres imported from India and Sri Lanka that may have a damaging
  effect on the US domestic industry even as it let China off the hook.
• All six commissioners of the
  United States International Trade Commission (USITC) voted to determine that
  there is a reasonable indication that the US industry is materially injured by
  imports of certain new pneumatic off-the-road tyres from India that are allegedly
  sold in the country at less than fair value and subsidised by the governments
  of India and Sri Lanka.
• According to a statement, the
  Commission further determined yesterday that imports of these products from
  China are negligible.
• Following the Commission’s
  affirmative determinations, the US Department of Commerce will continue to
  conduct its investigations on imported products from India and Sri Lanka, with
  its preliminary countervailing duty determinations due on April 4 and its
  preliminary anti-dumping duty determinations due on June 16.
• As a result of the Commission’s
  finding of negligibility, the investigations on imports of these products from
  China will be terminated, USITC said.

• Japan Aerospace Exploration
  Agency (JAXA) on 17 February 2016 successfully launched astronomy satellite
  ASTRO-H from the Tanegashima Space Center in Kagoshima Prefecture.
• The satellite was launched
  on-board the H-IIA rocket, which was previously known as the New X-ray Telescope
  (NeXT), and is expected to operate in low Earth orbit for three years.
• ASTRO-H is the eye to study the
  hot and energetic universe. The ‘H’ refers to the word Japanese word Hitomi
  that means pupil or entrance window of the eye.

• Bollywood lyricist Sameer Anjaan
  on 17 February 2016 was officially recognised by Guinness World Records as the
  Most prolific Bollywood lyricist ever who has composed 3524 different songs as
  of 15 December 2015.
• Sameer has written 3524 songs in
  650 Bollywood movies, and is now the first Guinness Record possessor in this
  particular category.
• Sameer was presented with a
  certificate during a celebration ceremony held in Mumbai.

Regards

Team ExamPundit

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