Current Affairs Update – 23rd June, 2016

• Microsoft Accelerator in India
  and TCS Co-Innovation Network (COIN) today announced a joint initiative to
  create a platform that provides a boost to the Indian startup ecosystem.
• Under the collaboration, an open
  innovation framework will be created to mentor and engage with startups to
  bring their innovative solutions to market.
• The announcement was made at
  Think Next Summer 2016, Microsoft Accelerator’s flagship forum, which brings
  together thought leaders in technology who are driving transformation via
  innovation.

• S.K. Roy, the head of state-run
  Life Insurance Corp (LIC), the biggest single investor in the country, has
  tendered his resignation two years before his term was due to end, two sources
  with direct knowledge said on Thursday.
• Roy has written to the finance
  ministry but his resignation is yet to be confirmed, said a senior executive at
  the insurer, as also a senior government official. Both sources declined to be
  named because they are not authorised to speak to the media.
• The sources did not know the
  reasons for the resignation.
• Roy and an LIC spokesman could
  not be immediately reached for comment.
• Roy had been with the insurer
  more than three decades after rising through the ranks to be appointed chairman
  in 2013.

• Japanese conglomerate SoftBank on
  22 June 2016 named Ken Miyauchi, head of the group’s Japanese
  telecommunications operations, as President and Chief Operating Officer (COO).
• The appointment came after Nikesh
  Arora had abruptly resigned from his position after it became clear that
  Chairman and CEO Masayoshi wanted to remain at the helm longer than first
  planned.

• World Hydrography Day (WHD) 2016
  was observed on 21 June 2016 across the world.
• The theme for the WHD 2016 was
  Hydrography – the key to well-managed seas and waterways. The theme tries to
  focus attention on the fundamental importance of hydrography.
• The World Hydrography Day also
  marks the 95th anniversary of the establishment of the International
  Hydrographic Organization (IHO).
• The day is celebrated to increase
  public awareness of the vital role that hydrography plays in everyone’s life.

• The United Nations Public Service
  Day was celebrated by the United Nations (UN) on 23 June 2016.The day was
  celebrated to mark the invaluable contributions of public servants and
  administrators to build a better world for all.
• The 2016 United Nations Public
  Service Day was celebrated at the United Nations Headquarters in New York with
  a High-level Knowledge Sharing Panel on Leaving No One Behind: Innovative
  Institutional Approaches and Public Service Delivery.
• This is the first time that the
  Day is celebrated after the 2030 Agenda for Sustainable Development was adopted
  by all United Nations Member States.

• The International Widow’s Day
  2016 was celebrated across the world on 23 June 2016. The day was celebrated to
  raise awareness on the troubles of widowed women.
• The day throws light on the
  situation of widows which is sometimes neglected due to absent in statistics,
  unnoticed by researchers and is mostly overlooked by civil society
  organizations.
• Generally, widow women have to
  suffer complete social exclusion. Abuse of widows and their children
  constitutes one of the most serious violations of human rights and obstacles to
  development today.

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• Mercer’s Cost of Living Survey
  2016 was released on 22 June 2016. Asia dominates the top 5 of 2016 Cost of
  Living Rankings, with Hong Kong bagging the No. 1 spot, pushing Luanda, Angola
  to 2nd.
• As per the Mercer’s 22nd annual
  Cost of Living Survey, top factors contributing to cost of expatriate packages
  for employees on international assignments are currency fluctuations, cost
  inflation for goods and services, and instability of accommodation prices.

• The survey includes more than 375
  cities throughout the world. The ranking for 2016 includes 209 cities across
  five continents.
• It measures the comparative cost
  of more than 200 items in each location, including housing, transportation,
  food, clothing, household goods and entertainment.
• New York City is used as the base
  city for all comparisons and currency movements are measured against the US
  dollar.
• Kinshasa, which is ranked sixth
  in the survey, appears for the first time in the top 10 cities.

1. Mumbai – Rank 82
2. New Delhi – Rank 130
3. Chennai – Rank 158
4. Kolkata – 194
5. Bangalore – Rank 180

• India has slipped one place to
  12th spot in terms of millionaire population, even as their numbers have grown
  marginally to 2 lakh.
• Last year, India was ranked 11th
  with 1.98 lakh such high networth individuals (HNWIs), according to a report by
  Capgemini.
• India along with China is seen as
  engine of growth by the global wealth managers.
• The report said 13% of the global
  wealth managers feel that India has the biggest area of high net worth
  individual wealth expansion through 2025, while the same is 27% for China.
• The global wealth is projected to
  reach $100 trillion by 2025.
• While globally in 2015, HNWI
  wealth saw only a modest growth of 4%, wealth in Asia-Pacific grew at an
  aggressive 10%, propelling it to the lead position as the region with the most
  HNWI wealth globally.
• This is the first time that
  Asia-Pacific is ahead of North America for both HNWI wealth and population.

• Former captain Anil Kumble was
  today appointed the Indian cricket team’s head coach for a one-year tenure,
  bringing an end to the prolonged suspense over who will take over the reins of
  the side.
• The 45-year-old Kumble pipped
  former Team Director Ravi Shastri, Australians Tom Moody and Stuart Law and a
  host of others to clinch the high-profile position following an elaborate
  selection process headed by a three-member Cricket Advisory Committee (CAC).
• The committee comprising Sachin
  Tendulkar, VVS Laxman and Sourav Ganguly had interviewed 10 candidates for the
  job in Kolkata on Tuesday in a marathon session which lasted close to 10 hours.

• Indian pugilist Manoj Kumar
  secured his berth for the forthcoming Rio Olympics after advancing to the
  semifinals of the men’s light welter 64 Kg category at the World Qualification
  event here on Thursday.
• The 29-year-old displayed a
  superior performance, thumping Tajikistan’s Rakhimov Shavkatdzhon 3-0 in the
  quarterfinal round. He will next face European champion Pat McCormack of Britain
  in the semifinal on Friday.
• With the win, Manoj became the
  second boxer after Shiva Thapa (56kg) to make the cut for the Rio Games.