Current Affairs Update – 5th July, 2016

Hello and welcome to exampundit . Here are the important Current Affairs of 5th July, 2016. These are important for the upcoming SBI PO Mains & UBI PO PGDBF Exams 2016.

• Government today permitted Axis
  Bank to raise foreign shareholding to 74 per cent, entailing investment of
  around Rs 13,000 crore.
• Cabinet Committee on Economic
  Affairs (CCEA) headed by Prime Minister Narendra Modi cleared the proposal of
  Axis Bank for increasing foreign shareholding limit from existing 62 per cent
  to 74 per cent.
• The proposal would lead to
  foreign investment of about Rs 12,973 crore.
• At present, private banks have a
  total foreign limit of 74 per cent, of which FII limit is 49 per cent.
• Earlier this year,
  inter-ministerial panel FIPB headed by Economic Affairs Secretary Shaktikanta
  Das recommended the Axis Bank’s proposal to the CCEA as the capital inflow was
  over Rs 5,000 crore.
• The Foreign Investment Promotion
  Board (FIPB) can clear proposals worth up to Rs 5,000 crore.

• SBI Cards and Payment Services
  (SBI Card), the third largest card issuer, on Tuesday launched a premium credit
  card by the name ELITE.
• Launched on the MasterCard World
  platform, the SBI Card ELITE has bundled several privileges and benefits for
  the high networth individuals–premium category customers.
• Enabled with Near Field
  Communication (NFC) technology, SBI Card ELITE allows customers a contactless
  payment experience, adding more speed and suave to their wallets.

• India’s first commercial dispute
  resolution centre and commercial court was inaugurated on 2 July 2016 at Naya
  Raipur, Chhattisgarh.
• The centre and court were
  inaugurated by Chhattisgarh Chief Minister Dr. Raman and Justice Madan B. Lokur
  of the Supreme Court of India.

• The court also consists of
  arbitration centre and a mediation centre.
• Some facilities available for litigants
  through the new system includes video-conferencing, E-Court, E-Library,
  E-Filing and E-Summons.
• These ultra-modern facilities
  available at the court will facilitate the investors in their commercial
  dealings.
• The Court will help in improving
  the judicial system.

• Tata Consultancy Services (TCS)
  is partnering with the Royal College of Physicians in Ireland to deploy iON
  cloud solutions to create an online community of doctors.
• The new tool called The Physician
  Network is a resource based on the TCS iON Digital Learning Platform to enable
  virtual ‘common-interest communities’ and facilitate best practice
  knowledge-sharing.
• TCS iON is a strategic unit of
  Tata Consultancy Services focused on manufacturing industries, educational
  institutions and exam boards. They provide technology by means of a unique
  IT-as-a-service model, offering end-to-end business solutions for the sector.

• India’s largest incubator T-Hub
  on Tuesday signed an MoU with Aeries Technology Group, a global services
  company offering technology, BPM and outsourcing solutions, for “fault-tolerant
  server” and software technology for start-ups to host and test their
  applications.
• According to a statement issued
  by T-Hub, Aeries Technology will be offering its Stratus-branded
  fault-tolerant, “always-on” software and server technology platform that
  enables the highest level of availability, virtualisation and easy maintenance
  for all Web and enterprise grade applications.
• Aeries Technology Group Chairman
  Raman Kumar said the MoU is a milestone for Aeries to partner with T-Hub to
  provide Stratus state-of-the-art and cutting edge server and software
  technology in an experiential setting.

• Jawaharlal Nehru Port on 1 July
  2016 became the first port in India to implement logistics data tagging of
  containers.
• The implementation of the
  logistics data bank tagging of containers will help importers/exporters track
  their goods in transit through logistics data bank service.

• A Radio Frequency Identification
  Tag (RFID) will be attached to each container. The containers will be tracked
  through RIFD readers installed at different locations.
• This will provide the Visibility
  and Transparency of the EXIM Container Movement by covering the entire movement
  through rail or road till the Inland Container Depots (ICDs) and Container
  Freight Stations (CFSs).
• The service will integrate the
  information available with various agencies across the supply chain to provide
  detailed real time information within a single window.

• Country’s largest two-wheeler
  maker Hero MotoCorp Ltd. (HMCL) has inked a wage settlement pact with its
  permanent workers at Gurgaon Plant, entailing a hike of 12500 rupees spread
  over three years.
• The three-year agreement will be
  implemented with retrospective effect starting from 1 August 2015 till 31 July
  2018. The previous wage settlement was effective from 1 August 2012 to 31 July
  2015.
• Hero MotoCorp employs about 1400
  permanent employees at its Gurgaon facility.

• Union Council of Ministers was
  reshuffled and expanded with inclusion of 19 new Ministers of State on 5 July
  2016. The new inductees were administered the oath of office and secrecy at the
  Rashtrapati Bhavan by President Pranab Mukherjee.
• Besides, Minister of State with
  independent charge, Prakash Javdekar was elevated to the Cabinet rank.
• Of the inductees, three each are
  from Uttar Pradesh, Madhya Pradesh and Gujarat. Rajasthan has got four berths
  in expansion while Maharashtra two. There is one Minister each from West
  Bengal, Assam, Karnataka and Uttarakhand.
• Of the nineteen new ministers, 17
  are from the BJP, one each from Apna Dal and RPI. There are two minority
  leaders – MJ Akbar and SS Ahluwalia and two women Anupriya Singh Patel and
  Krishna Raj.

1. Faggan Singh Kulaste – A
   prominent tribal leader and Member of Parliament from Barbati in Madhya
   Pradesh.
2. Surendrajeet Singh Ahluwalia – He
   is Member of Parliament from Darjeeling.
3. Ramesh Chandappa Jigjinagi – a
   Dalit leader and Lok Sabha MP (five times) from Bijapur, Karnataka.
4. Vijay Goel – He is a BJP leader
   from Delhi and was elected to Rajya Sabha from Rajasthan.
5. Ramdas Athawale – He is the chief
   of Republican Party of India (Athawale) is a seasoned Dalit leader and a vocal
   Ambedkarite. He is the lone Rajya Sabha member.
6. Rajen Gohain – He is a BJP MP
   (4th term in Lok Sabha) from Nawgong Assam.
7. Anil Madhav Dave – He is a Rajya
   Sabha MP from Madhya Pradesh and is an environmentalist. He has written several
   books on the subject.
8. Parshottam Rupala – He is a Rajya
   Sabha MP from Gujarat and this is his second term as a Rajya Sabha member.
9. MJ Akbar – Rajya Sabha MP from
   Madhya Pradesh.
10. Arjun Ram Meghwal – He is a Lok
    Sabha MP from Bikaner, Rajasthan.
11. Jaswant Sinh Bhabhor – He is a
    tribal leader and a Member of the Parliament from Dahod constituency in
    Gujarat.
12. Dr Mahendra Nath Pandey – He is a
    BJP Lok Sabha MP from Chandauli, Uttar Pradesh.
13. Ajay Tamta – He is also a Dalit
    leader from the hill state of Uttarakhand. He is a Lok Sabha member from the
    Almora constituency.
14. Krishna Raj – She is a Dalit
    leader from UP’s Rohilkhand region and a Lok Sabha member from UP’s
    Shahjahanpur.
15. Mansukh Mandaviya – A native of
    Bhavnagar in Gujarat and a prominent leader from the Patel community is a Rajya
    Sabha MP from Gujarat.
16. Anupriya Singh Patel – She is the
    daughter of the late Sone Lal Patel, a Kurmi leader with significant influence
    in Uttar Pradesh. She is a Lok Sabha MP from Mirzapur in Uttar Pradesh.
17. C R Chaudhary – He holds a degree
    from the University of Birmingham and carries an expertise in the field of
    rural development. He is a BJP MP from Nagaur, Rajasthan.
18. P P Chaudhary – He Lok sabha MP
    from Pali, Rajasthan and belongs the OBC Seervi caste. He is a recipient of the
    Sansad Ratna award twice in his stint at the Lok sabha. He also heads Seervi
    Mahasabha.
19. Dr Subhash Bhamre – he is an
    oncologist and a practicing doctor. He is BJP Lok Sabha MP from Dhule,
    Maharashtra.

• World Bank on 1 July 2016 released
  the Logistics Performance Index 2016 titled ‘Connecting to compete: 2016: Trade
  Logistics in the Global Economy.’ The 2016 Logistics Performance Index (LPI)
  allows for comparisons across 160 countries.
• The 2016 LPI is an interactive
  benchmarking tool created to help countries identify the challenges and
  opportunities they face in their performance on trade logistics and what they
  can do to improve their performance.

• Germany tops the 2016 rankings
  and is followed by Luxembourg, Sweden, Netherlands, and Singapore. Hong Kong
  SAR, China was ranked at 9th position while United States was placed at 10th
  Position in the list of rankings. Mainland China was placed at 27th position.
• Syrian Arab Republic was ranked at
  160th position in the list.

• India’s ranking jumped from 54 in
  2014 to 35 in 2016.
• India is ahead of comparatively
  advanced economies like Portugal and New Zealand.
• In 2016, India’s international
  supply chain efficiency was at 75 percent of top-ranked Germany. This is an
  improvement over the 66% efficiency when compared to the leader (again Germany)
  in 2014.

• Noted scientist Madhav Dhekane on
  1 July 2016 assumed the office of Director at ISRO Inertial Systems Unit
  (IISU), Department of Space, at Vattiyoorkavu in Thiruvananthapuram, Kerala.
• Dhekane is the seventh director
  of IISU.

• Javeline thrower Annu Rani on 2
  July 2016 bettered her national record with a 59.87m throw at the 56th National
  Inter-State Senior Athletics Championships in Hyderabad.
• Rani improved her previous meet
  mark with her first round 59.06m at G.M.C. Balayogi Stadium. However, her
  59.87m throw came in the fourth round.
• Suman Devi could log only 55.88m
  to bag the second place. Haryana’s Sharmila Kumari finished third with 53.80m
  throw.

• Para swimmer Niranjan Mukundan
  won eight medals, including three gold medals, at the International Wheelchair
  and Amputee Sports (IWAS) U-23 World Games.
• The games concluded on 3 July
  2016 in Prague, Czech Republic.
• Mukundan bagged gold medals in
  200m freestyle, 50m butterfly and 50m breaststroke, silver in 100m fly and 50m
  freestyle, and bronze in 100m freestyle, 100m breaststroke and 100m backstroke
  events.

• American actor Noel Neill, the
  first actor to play the role Lois Lane on the Adventures of Superman television
  series died on 3 July 2016. She was 95.
• Lois Lane is a fictional
  character who is an award-winning journalist and the primary love interest of
  Superman.

Regards

Team ExamPundit