Current Affairs Update – 7th December, 2015

Hello and welcome to ExamPundit. Here are the Important Current Affairs Update of 7th December, 2015. These are Important for the upcoming IBPS Clerk V Mains 2015.

• Singapore replaced Mauritius as top source of Foreign Direct
  Investment (FDI) into India during April-September of 2015-16 financial year.
  An announcement in this regard was made by the Department of Industrial Policy
  and Promotion of Ministry of Commerce and industry in the first week of
  December 2015.
• As per the data, between 15 April and 15 September 2015,
  India received 43096 crore rupees as FDI from Singapore. In the same period FDI
  from Mauritius was 23490 crore rupees.
• In the same period, While Netherlands was at number three
  with 7017 crore rupees of investment, the USA stood at the stood fourth with
  5435 crore rupees.

• The Chief Economic Advisor Arvind Subramanian led panel on 4
  December 2015 submitted its report on Possible Tax rates under Goods and
  Services Tax (GST) to Finance Minister Arun Jaitley.
• The commission recommended standard rate for GST at 17 to 18
  percent, the rate at which most products would likely be taxed. The Committee
  has suggested doing away with a proposal to levy a one percent inter-state tax
  on transfer of good.
• The committee excluded real estate, electricity and alcohol
  and petroleum products while calculating tax rates but has suggested bringing
  them under the ambit of GST soon.

• It recommended a range of 12 to 40 percent for various
  products and services.
• Revenue Neutral Rate (RNR) proposed at 15-15.5% (Union and
  states combined).
• Include petroleum and alcohol in GST regime.
• Impact on inflation expected to be minimal.

• Railways Minister Suresh Prabhu on 6 December 2015 flagged
  off the first Goa to Mumbai double-decker Shatabdi train through video conference
  from Panaji, Goa.
• The fully air-conditioned double-decker train is the
  first-of-its-kind in India.
• The train will run thrice a week between Margao and the
  Lokmanya Tilak Terminus (LTT) in Mumbai.
• The double decker train will cover the distance in around 12
  hours.

• Prime Minister Narendra Modi on 6 December 2015 released two
  commemorative coins of 125 rupees and 10 rupees, as part of the 125th birth
  anniversary year celebrations of Dr. Babasaheb Bhim Rao Ambedkar.
• The coins were issued on his death anniversary, which is
  observed as Mahaparinirvan Divas of Babasaheb Ambedkar. He breathed his last on
  6 December 1956.

• The public sector Cochin Shipyard Ltd has launched the
  nineteenth of the 20 Fast Patrol Vessels being built for Indian Coast Guard.
  The vessel was named “ICGS Atulya” and launched by Hema Subramaniam, wife of
  Commodore K. Subramaniam, Chairman & Managing Director, CSL.
• As on date, 15 ships out of 20 have been handed over to the
  Indian Coast Guard. Cochin Shipyard has successfully delivered 15 ships in a
  span of just 25 months with an average delivery interval of 1.6 months, against
  the contractual commitment of 3 months interval.
• The last vessel of the order is to be delivered by Mar 2017
  as per the contract with ICG. However, with the current pace of construction,
  the yard is targeting to accomplish this by mid of 2016, much ahead of
  schedule.
• The yard also paid a dividend of ₹16.99 crore to Government of India. The company
  is paying dividend for the seventh consecutive year, a release said.

• India on 4 December 2015 received its first uranium
  consignment of about 2730 tonnes from Canada. The uranium is shipped to India
  for the country’s nuclear power reactors.
• The consignment consists of uranium mined and milled at
  Cameco’s McArthur River and Key Lake operations in northern Saskatchewan.

• The consignment was shipped by Canada’s Cameco Inc, which
  entered into a contract with India’s Department of Atomic Energy during Prime
  Minister Narendra Modi’s visit to Ottawa in 2015.
• The first consignment of uranium from Cameco arrived more
  than four decades after Canada protested strongly about India’s first nuclear
  test in 1974. Afterwards, Canada had completely banned exports of uranium and
  nuclear hardware to India.

• India on 7 December 2015 won the four-match Test series
  against South Africa 3-0. In the fourth and final match played at Feroz Shah
  Kotla, Delhi, India defeated South Africa by 337 runs.
• Chasing a mammoth 481, the Proteas, despite their best
  efforts to block every delivery, failed in their attempt to save the Test. The
  visitors lost their last five wickets within a span of seven runs.
• Ashwin claimed his 15th five wicket haul of his Test career
  to send the Proteas on the backfoot. Team India skipper Virat Kohli has now won
  both his first two Test series.
• The test series between India and South Africa was named as
  Freedom Trophy. The trophy was dedicated to Mahatma Gandhi and Nelson Mandela
  who won independence for their country with nonviolence.
• Man of the Series: Ravichandran Ashwin for his brilliant
  bowling in the entire series.

• Australia on 6 December 2015 defeated Belgium by 2-1 to win
  2014-2015 Men’s Hockey World League Final, which was held at Sardar Vallabh
  Bhai Patel Stadium, Raipur.
• India defeated world number two and defending champions
  Netherlands by 3-2 in the penalty shoot-out, and clinched the bronze medal in
  the tournament.

• Armed Forces Flag Day was observed across India on 7
  December 2015. The Day is celebrated all over India in order to collect the
  funds from people all around the country for the wellbeing of the staff of the
  Indian Armed Forces.
• On the occasion of Flag Day, the Indian Army, the Indian Air
  Force and the Indian Navy arrange a variety of shows, carnivals, dramas and
  other entertainment programmes to showcase the efforts of their personnel to
  ensure national security.

• General Motors (GM) has appointed Kaher Kazem as President
  and Managing Director of its India operations, effective January 1.
• Kazem, who is currently chief operating officer (COO) of GM
  India, will be replacing Arvind Saxena who has decided to retire after leading
  the company since early 2014, the carmaker said in a statement.
• Kazem joined GM Holden in Australia in 1995 as a senior
  engineer. He later held several leadership positions at GM Holden Manufacturing
  Operations.
• In 2009, he was appointed vice president of Manufacturing
  and Quality for GM Thailand/Asean.

• A United Launch Alliance Atlas V (401 configuration) rocket
  carrying the OA-4 Cygnus cargo spacecraft with much needed supplies blasted off
  towards the International Space Station (ISS) on 6 December 2015.
• The rocket lifted off from Space Launch Complex 41, Cape
  Canaveral Air Force Station after three days of delay due to poor weather.
• The current Cygnus mission would be the first US delivery of
  cargo since April, the last time SpaceX’s Dragon capsule reached the station. A
  Cygnus last reached the station in July 2014.

• In a major breakthrough, researchers at Columbia Engineering
  have harnessed the molecular machinery of living systems to power an integrated
  circuit.
• They achieved this by integrating a conventional solid-state
  complementary metal-oxide-semiconductor (CMOS) integrated circuit with an
  artificial lipid bilayer membrane containing adenosine triphosphate
  (ATP)-powered ion pumps.
• In living systems, ATP is used to transport energy from
  where it is generated to where it is consumed in the cell.

Regards

Team ExamPundit

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