Current Affairs Update – 5th June, 2015

Hello and welcome to ExamPundit. Here are the Important Current Affairs of 5th June, 2015. These are Important for Upcoming SBI PO Main Exam.

• Kotak Mahindra Bank (KMB) and ING Bank have joined hands to
  cooperate and explore opportunities arising from cross border business,
  investment and trade flows across Benelux, Western Europe, Eastern Europe, North
  America, Asia and Australia.
• A Memorandum of Understanding (MoU) to this effect was
  signed in the presence of the visiting Netherlands Prime Minister Mark Rutte here
  on Friday.
• This cooperation will give ING Bank’s clients from the
  Netherlands and the other 39 countries where it is active in commercial banking
  access to KMB’s services in the vast Indian market.
• At the same time, this MoU will offer the clients of KMB
  (combined recently with ING Vysya Bank) in India the opportunities of ING’s
  international network.
• The MoU — which is initially valid for a period of one year
  — covers an array of cooperation areas such as trade finance, remittances and
  services related to non-resident Indians, nostro and vostro accounts, funding
  to counterparties’ corporate relationships, fee based products (including but
  not limited to foreign exchange, letters of credit and guarantees), direct
  banking and digital strategy, and cross border debt capital markets and mergers
  and acquisitions.
• KVS Manian, President-Corporate, Institutional &
  Investment Banking, Kotak Mahindra Bank said that the MoU will leverage the
  strengths of both institutions and will be mutually beneficial.

• Continuing efforts to improve the ease of doing business in
  the country, the government has set up an eight-member panel to address issues
  related to the new companies law and suggest necessary changes.
• The Corporate Affairs Ministry has already made a raft of
  changes to the Companies Act, 2013 — whose most provisions came into effect
  from April 1, 2014 — amid concerns raised from various stakeholders.
• The ‘Companies Law Committee’, chaired by Corporate Affairs
  Secretary Anjuly Chib Duggal, would submit its recommendations “within six
  months of its first meeting”.
• There are also representatives from the judiciary and
  industry in the eight-member panel, according to an order issued by the
  Ministry on Thursday.
• Former Delhi High Court judge Reva Khetarpal, Tata Sons
  Chief Legal and Group General Counsel Bharat Vasani, L&T Finance Holdings
  Chairman Y M Deosthalee as well as Presidents of apex bodies — chartered
  accountants, cost accountants and company secretaries would be part of the
  committee.

• India and the Netherlands on 5 June 2015 signed several
  agreements to deepen bilateral cooperation.
• The agreements were signed in the presence of Prime Minister
  Narendra Modi and Prime Minister of Netherland Mark Rutte in New Delhi after
  the two leaders held discussions on various issues related to the region and
  the world.
• Mark Rutte is on a two day visit to India on 5-6 June 2015.

• Agreement on setting up Joint Working Group on Counter
  Terrorism , which will hold its first meeting on 19 June 2015.
• Agreement on manufacturing of dredgers at the Cochin
  Shipyard.
• Agreement on manufacturing of Measles, and Rubella Vaccine
  in India, with transfer of technology from Netherlands.
• Agreement on developing coastal roads and metro lines in
  India.
• Agreement on setting up a Joint Working Group on Skill
  Development.
• Agreement on developing joint pilot projects for an electric
  vehicle ecosystem in India.
• Agreement on setting up centres of excellence in areas like
  horticulture and animal husbandry in India.

• Singapore authorities have ordered local importers to
  temporarily suspend of the sale of Nestle’s Maggi noodles imported from India amid
  reports that high lead content was found in the popular instant snack in India.
• The Agri-Food and Veterinary Authority’s decision comes
  after India banned the sale of the noodles for 15 days in Gujarat, Jammu and
  Kashmir, Uttarakhand and Tamil Nadu after high levels of lead were discovered
  in batches tested in New Delhi and Uttar Pradesh.
• As a precautionary measure, the AVA has taken samples of the
  instant noodles for food safety tests and advised affected importers to
  withhold sales until tests are completed.
• The AVA is testing samples of Maggi brand instant noodles
  manufactured in India and has advised affected importers to stop selling them
  until tests are complete.
• Lead content in 14 of 27 samples in India was found to be
  2.8 PPM to 5 PPM (particle per million), which is above the prescribed limit of
  2.5 PPM. Presence of excess lead is harmful for health.

• Water Resources minister Uma Bharti today launched ‘Jal
  Kranti’ campaign here today, emphasising that the water preservation and
  conservation initiative will not be successful unless it is converted into a
  mass movement.
• Bharti said the progress of the campaign will be reviewed
  after one or one and a half year. The campaign would continue till the
  objective of solving water problems in every house and farm is resolved.
• She said that her ministry was focused on creating a water
  balance in the country and alleged that Congress was doing politics on projects
  like interlinking of rivers.
• The Jal Kranti Abhiyan will be celebrated across the country
  during 2015-16 to consolidate water conservation and management through a holistic
  and integrated approach.
• The campaign will strengthen the involvement of all
  stakeholders including Panchayati Raj institutions and local bodies towards
  water security and development schemes, encouraging them to adopt traditional
  knowledge in water resources conservation and management in rural areas.
• Development of model command area, pollution abatement and
  mass awareness programme are among other activities which will be addressed
  under the campaign.
• The scheme also provides for a ‘Sujalam Card’ which will
  provide annual status and information about the quality of drinking water
  available for a ‘Jal Gram’.

• As part of International Yoga Day on June 21, External
  Affairs Minister Sushma Swaraj will lead the events at the United Nations in
  New York while Prime Minister Narendra Modi will attend a mega yoga session at
  Vijay Chowk in the Capital.
• June 21 – the day that marks summer solstice in the northern
  hemisphere – was designated as the ‘International Day of Yoga’ at India’s
  instance last December after Mr. Modi recommended it at his UNGA speech, saying
  yoga engenders a “sense of oneness with yourself, the world and the nature” and
  could even “help deal with climate change”.
• The Indian Embassy in Washington and the Consulate General
  of India in New York have also lined up events to mark Yoga Day. In New York
  and adjoining cities, as many as 11 events have been advertised, including an
  annual event at Times Square. The Indian Embassy in Washington that initiated Yoga
  Day celebrations with a talk by Sri Sri Ravi Shankar on April 29; will also
  host ‘Yoga on the Mall’.

• Nestle India has decided to take Maggi Noodles off the
  shelves, after six state governments announced ban in the wake of finding
  elevated levels of lead and MSG being found in its samples.
• In a late announcement released in the early hours of
  morning, Nestle India said that that the trust of its consumers and safety of
  its products is the company’s first priority.
• Maggi has been banned by six state governments. While Delhi
  banned it for fifteen days, ban in other states varies from about a month to
  about three months. Other states are awaiting test results.
• Key retailers across the country have already taken it off
  the shelves.
• At the same time, Food Safety and Standards Authority of
  India (FSSAI) is also awaiting test results from all the states to take a
  decision on a nationwide ban.

• Infosys Limited on Friday announced that the Company’s Board
  have approved the appointment of R. Seshasayee as Non-Executive Chairman of the
  Board with immediate effect.
• A release from the Company added that K.V. Kamath will be
  stepping down from his position as Chairman of the Board and as an Independent
  Director of the Company, consequent to his nomination as President of the BRICS
  New Development Bank.
• Mr. Seshasayee has been an Independent Director on the
  Company’s Board since January 2011 and is the chairperson of the Audit
  Committee. Mr. Seshasayee’s other board positions include Non-Executive Vice
  Chairman of Ashok Leyland Ltd. and Chairman of IndusInd Bank Ltd.

• World Environment Day (WED) was observed globally on 5 June
  2015 with theme Seven Billion Dreams. One Planet. Consume with Care.
• The host country for the WED 2015 is Italy and the
  celebrations will be organized by Expo Milano 2015 that will run from 1 May to
  31 October 2015 and will see the participation of 140 plus countries.
• The day is observed to raise global awareness to take
  positive environmental action to protect nature and the planet Earth. It is run
  by the United Nations Environment Programme (UNEP).

• All India Football Federation (AIFF) on 2 June 2015 signed
  an agreement with French Football Federation (FFF) in Zurich. The agreement was
  signed by Praful Patel, President, AIFF in the presence of Kushal Das, General
  Secretary of AIFF.

• The parties agreed to cooperate with each other in order to
  develop strong ties between their respective associations for the mutual
  benefit of each association and for the promotion, growth and continued success
  of football in each country.
• It was also agreed to exchange training of technical
  personnel and organisational procedures.

Failure should be our teacher, not our undertaker. Failure is delay, not defeat. It is a temporary detour, not a dead end. Failure is something we can avoid only by saying nothing, doing nothing, and being nothing. – Denis Waitley

Regards

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