Current Affairs Update – 28-29th April, 2016

Hello and welcome to ExamPundit. Here are the Important Current Affairs from 28th and 29th April, 2016. These are important for the upcoming SBI Clerk Mains and UIIC AO 2016.

• The government has decided to
  reverse its decision of reducing the interest rate on Employees’ Provident Fund
  Organisation (EPFO) and stick to rate of 8.8% for 2015-16 as recommended by the
  Central Board of Trustees (CBT).
• CBT, the supreme decision making
  body of EPFO, had approved 8.8% interest rate in February. However, Dattatreya,
  in a written reply to the Lok Sabha on Monday, said that the ministry of
  finance has, ratified an interest rate of 8.7%. 
• According to regulations, after
  the interest rate is approved by the CBT, it has to be ratified by the finance
  ministry as it is a fiscal decision. However, this was the first instance, when
  the FinMin had disagreed with the rate approved by the board.
• This is the third rollback on EPF
  in the last two months. Last month the government was forced to withdraw the
  Budget proposal to tax a certain portion of withdrawals. Subsequently, it withdrew
  tighter withdrawal norms.

• India’s investments in the UK
  zoomed nearly 65% in 2015, establishing it as the third largest source of
  foreign direct investment (FDI) into Britain after the US and France.
• A new report released in London
  also found that the number of Indian companies in the UK, growing at more than
  10%, has nearly doubled from 36 to 62 firms in a year.
• ‘India meets Britain 2016:
  Tracking the UK’s top Indian companies’, published by Grant Thornton UK LLP in
  association with the Confederation of Indian Industry (CII), said the combined
  turnover of these businesses has increased by 4 billion pounds last year, up
  from 22 billion pounds in 2014 to 26 billion pounds in 2015.

• Experian, the global information
  services company, in the last week of April 2016 launched a fraud detection
  mechanism named the Hunter Fraud Score.
• The new scoring mechanism
  measures the probability of fraud in a credit application across banking and
  insurance industries.
• Experian had launched the Hunter
  Fraud Management Services for the life insurance sector in India in March 2016.

• As per Experian, the new score
  will help retail finance providers and insurance companies in India
  significantly increase their efficiency in fraud detection.
• Businesses will be able to
  identify applications that should be screened for potential fraud, and
  prioritise those that have a high probability of being fraudulent.

• India on 28 April 2016 extended a
  Line of Credit (LoC) of 1 billion US dollars to Mongolia. The LoC was extended
  after delegation-level bilateral talks between the Minister of State for
  External Affairs VK Singh and Mongolian Foreign Minister Lundeg Purevsuren in
  New Delhi.
• Besides, the two countries also
  agreed to exchange sentenced persons.
• Lundeg Purevsuren was on a
  three-day state visit to India from 27 April to 29 April 2016. This visit was a
  part of the intensified bilateral exchanges following the upgrade of bilateral
  relations during Modi’s visit.

• Reliance Defence has signed a
  strategic partnership agreement with three Ukranian state-owned companies which
  will allow them to collaborate on a range of military products, including
  transport aircraft, upgrade of armoured vehicles, maritime gas turbines and
  unmanned aerial vehicles.
• The development follows a meeting
  between Reliance Group Chairman Anil Ambani and Ukranian President Petro
  Poroshenko in Ukraine this week.
• During the hour long meeting, the
  two leaders discussed issues of strategic interest between the Indian and
  Ukrainian defence and aerospace industry.

• NITI Aayog chaired by Vice
  Chairman Dr Arvind Panagariya launched the Urban Management Programme on 27
  April 2016 in Vigyan Bhawan, New Delhi.
• The state participation was at
  the level of Secretaries of Urban Development, Municipal Commissioners and
  other senior officials of State Government and parastatal bodies. About 150
  participants were present in the event.

• The Programme is designed by NITI
  Aayog, Temasek Foundation and Singapore Cooperation Enterprise (SCE) under the
  platform of the Memorandum of Understanding signed between NITI Aayog and the
  Singapore Cooperation Enterprise (SCE).
• It was to tap the expertise of
  Singapore in urban sector to build capacities in State Governments and ULBs to
  design efficient solutions to urban problems.

• The Union Cabinet on 27 April
  2016 approved to enhance investment by Bharat Petroleum Corporation Limited
  (BPCL) in Bharat Oman Refineries Limited (BORL).
• Now, the investment amount can be
  enhanced upto a maximum of 3000 crore rupees by way of subscription of
  convertible warrants giving right to convert it into equity shares to be issued
  by BORL.
• The infusion of funds by the
  BPCLs will enable BORL to overcome the implications on account of the erosion
  of the net worth.

• Indian Space Research
  Organization (ISRO) on 28 April 2016 launched India’s seventh navigation
  satellite of the Indian Regional Navigation Satellite System (IRNSS 1G) into a
  Sub-Geosynchronous Transfer Orbit (Sub-GTO) on-board PSLV-C33.
• The satellite was launched from
  the First Launch Pad (FLP) of the Satish Dhawan Space Centre, Sriharikota,
  which is situated 90 kms from Chennai.
• With this launch, India
  successfully joined the elite group of countries that have their own navigation
  system technology to cater to the mammoth navigational needs.
• As in the previous six launches
  of IRNSS satellites, PSLV-C33 used ‘XL’ version of PSLV equipped with six
  strap-ons, each carrying 12 tons of propellant.

• Chief Minister Naveen Patnaik on
  28 April 2016 inaugurated 100 piped water supply projects for rural areas. The
  CM also pledged to make piped water provision in all gram panchayats by 2017.
• The project was inaugurated on
  the occasion of Utkal Gaurab Madhusudan Das’ anniversary.  Das was the first graduate and advocate of
  Odisha.
• Earlier on 20 April 2016, Chief
  Minister Naveen Patnaik had dedicated 100 urban drinking water supply projects
  in the state.

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• Union government on 27 April 2016
  issued a notification banning the import of dogs for commercial breeding. The
  imports are allowed only for research or defence purposes.
• The ban came after many animal
  rights organisations raised concerns over foreign breed dogs suffering due to
  unsuitable climatic conditions
• Humane Society International
  (HSI) and People for Animals along with other groups had urged the government
  to ban the import on dogs for breeding as it was resulting in the
  overpopulation of street dogs in the country.

• The Union Cabinet chaired by the
  Prime Minister Narendra Modi on 27 April 2016 approved for signing a Memorandum
  of Understanding (MoU) between India and Papua New Guinea on cooperation in the
  fields of Healthcare and Medical Science.
• The bilateral MoU will encourage
  cooperation between the Ministry of Health & Family Welfare of India and
  the Ministry of Health and HIV/AIDS of the Papua New Guinea through joint
  initiatives in the health sector. It will strengthen bilateral ties between
  India and Papua New Guinea.

• The Maharashtra government on 27
  April 2016 decided to increase the punishment for chain snatching up to 5 years
  of rigorous imprisonment along with a fine of 25000 rupees.
• The state Cabinet cleared the
  amendments to relevant sections of Indian Penal Code sections 379, 397-A (1)(2)
  and section 379-B along with the CrPC Act-1973, thus increasing the punishment
  up to five years rigorous imprisonment and 25000 rupees fine, in case of grievous
  injury to the victim.
• The new additional section of
  379-A(1) will define chain snatching as a crime and the convict will be
  sentenced under section 379-A(2), which provides minimum of 2 years and maximum
  of 5 years rigorous imprisonment.

• Mindtree cofounder and former
  chairman Subroto Bagchi has been selected by the government of Odisha to head
  the state’s Skill Development Authority. 
• Bagchi who would be given the rank of
  a Cabinet Minister, would directly report to the chief minister and would help
  in setting up a unified body that would guide, implement and oversee all skill
  development programmes in the state.
• Bagchi has decided to draw a
  salary of Rupees 1 per year for this role. He will begin his work with a visit
  to all the 30 districts of the state to get a first-hand understanding of the
  initiatives on the ground and submit his recommendations based on which, a
  detailed programme will be worked out .
• Odisha Skill Development
  Authority aims to unify the initiatives on the ground and create momentum for
  unemployed youth to receive skill-based training to make them employable.

• Senior IPS officer Surendra Kumar
  Bhagat was on 28 April 2016 appointed as the Director General (DG) of Railways
  Protection Force (RPF). His appointment was approved by the Appointments Committee
  of the Cabinet (ACC).
• As a DG of Railways Protection
  Force , Bhagat is entrusted with responsibility of protecting railway property
  and passengers. He will serve the Railway Board till the date of his superannuation
  that is on 30 June 2017.
• He is presently working as
  Special Director General in Central Reserve Police Force (CRPF) at Western
  Sector, Jammu & Kashmir.

• Indian academician Radha Kumar
  was on 28 April 2016 appointed to the United Nations’ University Council to
  formulate its principles and policies, consider and approve biennial budget and
  work programme.
• Kumar is among 12 people who are
  appointed by UN Secretary-General Ban Ki-moon to the council. These 12
  appointees will take office with effect from May 2016 and will serve for terms
  of either three or six years.

• Asian Games gold medalist Charles
  Borromeo on 28 April 2016 resigned from the post of head of the Tata Steel
  sports department.
• The resignation came after the
  vigilance department officials of the company questioned him in connection with
  alleged irregularities in tender process of 4.40 crore rupees worth synthetic
  track laying at the JRD Tata Sports complex.

• The International Bank Note
  Society (IBNS) on 25 April 2016 announced that New Zealand’s five-dollar note
  won the Banknote of the Year Award for 2015. The bill came out as a clear
  winner among nearly 40 eligible designs from a record 20 countries.
• The runner’s up in the voting
  were Sweden’s 20 Kronor note depicting children’s author Astrid Lindgren,
  Russia’s 100 Ruble note illustrating Crimean landmarks, Kazakhstan’s 20000
  Tenge note and Scotland’s (Clydesdale Bank) 5 Pound polymer note.
• The Reserve Bank of New Zealand
  began releasing a new family of Brighter Money banknotes in 2015. It began with
  the $5 and $10 denominations.

• The Day of Remembrance for all
  Victims of Chemical Warfare 2016 was observed on 29 April 2016 by the United
  Nations (UN).
• This commemoration will provide
  an opportunity to pay tribute to the victims of chemical warfare, as well as to
  reaffirm the commitment of the Organization for the Prohibition of Chemical
  Weapons (OPCW) to the elimination of the threat of chemical weapons.

• The 2016 World Day for Safety and
  Health at Work was observed across the world on 28 April 2016 with the theme
  Workplace Stress: a collective challenge.
• The International Labour
  Organisation (ILO) celebrates World Day for Safety and Health to raise
  awareness of safety in the workplace. Occurring annually since 2003, each year
  it focuses on a specific area and bases a campaign around the theme.
• The day 28 April has also long
  been associated with the world’s trade union movement’s commemoration of the
  victims of occupational accidents and diseases.

• China on 27 April 2016
  successfully launched the Kunpeng-1B sounding rocket from a launch pad in
  Danzhou City in the southern Chinese Hainan Province. The rocket reached a
  maximum height of 316 kilometres (196 miles), with the total flight time coming
  to 10 minutes.
• The head of the rocket was
  equipped with a new altitude control system. New materials of flexible carbon
  fibre were also used in the rocket to enable easier flight.

• China developed a new electronic
  paper, which has been heralded as “the world’s first graphene electronic
  paper. It was in news in the last of April 2016.
• It will be a huge breakthrough
  that will catapult the material to a new level. It was developed  by The Guangzhou OED Technologies in
  partnership with a company in Chongqing.
• Compared with traditional
  e-papers, graphene e-paper is more pliable and has more intensity and its
  high-light transmittance means optical displays will be much brighter.

• Japan’s Olympic organisers on 25
  April 2016 unveiled the new official logos of the 2020 Tokyo Olympic and
  Paralympic Games. The emblems, designed by Asao Tokolo, feature an
  indigo-coloured check in the design.
• The Olympic logo features a
  circular Japanese traditional checkered pattern. Below the design are the words
  Tokyo 2020 and under them the five interlocking Olympic rings. The design is
  meant to express a refined elegance and sophistication that exemplifies Japan.

• South Korea on 27 April 2016 announced
  that its Olympic athletes will wear uniforms that have been infused with insect
  repellent to keep mosquitoes carrying the Zika virus at bay.
• The South Korean team’s uniforms
  were unveiled in Seoul, marking 100 days until the opening ceremony in Brazil.
• These formal long-sleeved shirts
  and trousers containing mosquito repellent will be worn by the South Korean
  athletes during ceremonies and at the athletes’ village at the 2016 Olympic
  Games in Rio de Janeiro.

• Sri Lanka Cricket (SLC) on 27
  April 2016 announced appointment of Sanath Jayasuriya as chief selector of the
  Sri Lankan Cricket team.
• Jayasuriya is back as the chief
  selector for the team, after a year when he stepped down from the role.
  Earlier, he served as the chief selector from January 2013 to March 2015.
• Jayasuriya-led committee will
  succeed the Aravinda de Silva led committee.

• The book titled Blood on my
  Hands: Confessions of Staged Encounter authored by Kishlay Bhattacharjee was in
  news in the last week of April 2016.
• The book came into news as Biju
  Janata Dal leader Tathagata Satpathy on 26 April 2016 demanded revocation of
  the controversial Armed Forces Special Powers Act (AFSPA) in the north-eastern
  region. He stated that the book, which is on India’s north-eastern region,
  serves as an eye-opener.

• Kerala cartoonist V T Thomas,
  popularly known as Toms, passed away on 27 April 2016 following a brief illness
  at in Kottayam, Kerela. He was 86. He is survived by his wife Thresyakutty and
  children Boban, Molly, Rani, Peter, Bose, Princy.
• Toms created the legendary
  cartoon characters Boban and Molly (Bobanum Moliyum).

• Two-time Olympic 400-meter
  hurdles gold medalist champion Felix Sanchez announced his retirement on 26
  April 2016. The announcement means that the 38-year-old will not defend his
  title at the 2016 Olympics in Rio de Janeiro.
• Sanchez made the announcement in
  a video press conference in the Dominican Republic.

• Harry Wu, campaigner for human
  rights in China, passed away on 26 April 2016 in Honduras. He was 79.
• Wu, the son of a wealthy Roman
  Catholic family from Shanghai, was arrested in 1960 when he was only 23 years
  old. He was given a life sentence in a forced labour prison camp after he
  criticised the Soviet Union, then an ally of China.

Regards

Team ExamPundit