Daily Current Affairs Updates- 14th August 2015

    Daily Current Affairs Updates- 14th August 2015
    Daily Current Affairs Updates- 14th August 2015:                            
    Daily Current affairs News Updates about the National and International events were listed here. Candidates those who are preparing for IBPS/SBI/PO/Clerk exam and all other competitive exams can use this.

    1). Tata Sons decided to increase its stake inAir-Asia India from30% to41% by investing fresh capital
    ·        AirAsia India is a joint venture between
    a)   Malaysia’s AirAsia Berhad
    b)   Tata Sons
    c)    Arun Bhatia’s Telestra Tradeplace
    ·        Tata sons will acquire the stakes ofArun Bhatia’s Telestra Tradeplace
    ·        According to the original agreement the stake distribution is as follows
    a)   Malaysia’s AirAsia Berhad –49%
    b) Tata Sons –30%
    c)   Telestra Tradeplace –21%
    ·        Now the AirAsia India’s chief executive officer(CEO)Mittu Chandilyawill also hold the office of Managing Director

    2). Axis Bank launched 2-new cards in association withVISA payWave.
    ·        Axis bank is India’s3rd largest private sector lender
    ·        The 2 cards launched are as follows
    a)   1st Contactless Debit/Credit Card
    b)   Multi-Currency Forex Card
    ·        The Contactless cards contain a chip and an antenna that enables seamless, faster and hassle free payments
    ·        The customer has to enter the purchase amount in the contactless Point of Sale(PoS) terminal and tap the card on the terminal to complete the payment wirelessly in a secure manner
    ·        This card follows RBI’s guidelines for
    a)   promoting PIN-less small ticket transactions
    b)   providing service to customers in global standards
    ·        Axis Bank will offer Contactless Debit/Credit cards to its1.7 millionpremium customers
    ·        It enables the withdrawal of15 currencies through Multi-Currency Forex facility
    ·        Axis bank will upgrade50,000 of its PoS machines to facilitate contactless cards

    3). Odisha cabinet approved theIndustrial Policy Resolution(IPR) 2015, SCRIPS& Biju Expressway project
    ·        For the next 5 years theIPR 2015 will focus on the following sectors
    a)   Infrastructure development
    b)   Auto& auto components
    c)   Agro and food processing
    d)   IT and Electronic System Design& Manufacturing(ESDM)
    e)   Tourism
    f)    Civil aviation
    g)   Manufacturing
    h)   Pharmaceuticals
    i)    Handicrafts& Textiles
    j)    Petroleum& Petro chemicals
    ·        State Capital Region Improvement of Power System(SCRIPS)scheme
    a)   This scheme aims to avail quality and uninterrupted power to the consumers in the cities of Bhubaneshwar and Cuttack
    b)   SCRIPS – investment –Rs. 1500 crore
    c)   This scheme will be implemented entirely by the state’s own finances from2016 – 2020
    ·        Biju Expressway Project
    a)   It is a650.64 km 4 – lane economic corridor stretching from Rourkela to Jagdalpur in Chattisgarh
    b)   Aims to upgrade road connectivity in Naxal infested areas
    c)   The project got Central Government approval for 650.64 km
    d)   The state will develop307.44 km of roads into 4 – lane at a cost ofRs. 3630 crore
    e)   The National Highways Authority of India(NHAI) would develop 183.2 km
    f)    The160 km Sambalpur-Rourkela will be widened to 4-lane standard
    ·        Odisha cabinet also approved25% subsidy on capital investment exceeding Rs.200 crore

    4). National Thermal Power Corporation(NTPC) signed two MoUs for skill development training in eastern states and Bihar
    ·        1st MoU
    a)   NTPC signed the MoU with National Skill Development Fund(NSDF)
    b)   NTPC will provide skill training to 5000 youth and women across 22 regions especially in eastern states
    c)   This MoU is for 2 years with a cost of Rs. 6.5 crore
    ·        2nd MoU
    a)   Was signed with National Skill Development Corporation(NSDC)
    b)   NTPC will train 25000 candidates in services and manufacturing sectors across under-served locations of Bihar
    c)   This MoU is valid for 5 years with a cost of Rs. 30 crore
    ·        Both the projects will be funded by NTPC and executed by NSDC

    5).The Insurance Regulatory and Development Authority of India(IRDAI) allowed banks to tie up with insurers
    ·        This decision is a part of IRDAI’s Bancassurance model guidelines
    ·        Banks can tie up with 9 – insurers from three segments as follows
    a)   Life
    b)   Non-life
    c)   Standalone health
    ·        IRDAI has formed a 7-member committee to study the reviewing of the structure of Bancassurance model
    ·        Bancassurance – French term – selling of insurance through Banks or Banks as Insurance agents

    6).Union Government’s Pratyaksha Hastaantarit Laabh(PAHAL) scheme entered the Guinness Book of World Record as the world’s largest cash transfer program
    ·        PAHAL scheme
    a)   This scheme was launched as Direct Benefit Transfer Scheme for LPG subsidy in 2013 across 291 districts by Union Ministry of Petroleum& Natural Gas
    b)   In November 2014 it was modified as PAHAL and launched in 54 districts
    c)   On 1st January 2015 it was extended nationwide
    d)   Subsidized LPG cylinders are sold at market rates and consumers were provided with subsidy directly deposited into their bank accounts
    e)   It covers more than 9.75 crore LPG consumers across the country

    7).Om Prakash Munjal, founder of Hero Cycle passed away in DMC Hero Heart Centre, Ludhiana
    ·        He was born on 26thAugust 1928 in Kamalia, Punjab
    ·        In 1944, he moved to Amritsar to start bicycle spare parts business
    ·        1n 1956, complete manufacturing of bicycles under the name ‘Hero’ was started
    ·        This was the 1stbicycle manufacturing unit in India which produced 639 bicycles in one year
    ·        Presently Hero Cycles Limited manufactures 7.5 million cycles per year
    ·        Awards received by Om Prakash Munjal
    a)   Udyog Rattan Award
    b)   Punjab Rattna Award
    c)   The Samman Patra Award
    d)   The Indira Gandhi National Unity Award

    8).President Pranab Mukherjee appointed former IAS officer Om Prakash Rawat as Election Commissioner in the Election Commission of India
    ·        He was 1977 batch IAS officer from Madhya Pradesh
    ·        In 1993 – he was Director in the Defence Ministry
    ·        From 2004-2006 – He was principal Scretary to Babu Lal Gaur (CM of Madhya Pradesh)
    ·        From 2012 – 2014 – Secretary of Department of Public Enterprises in the Ministry of Heavy Industries
    ·        He will be EC till 2018 until he attains 65 years

    9).Pranab Mukherjee conferred Saraswati Samman 2014 to Dr. Marpadi Veerappa Moily
    ·        This award is for his Kannada poem ‘Ramayana Mahanveshanam’ which was published in 2007
    ·        This poem was translated into the following languages
    a)   English
    b)   Hindi
    c)   Telugu
    d)   Tamil
    ·        He is the 2nd Kannada writer to receive this award
    ·        The 1st writer was S. L. Bhyrappa – 2010
    ·        Dr. Marpadi Veerappa Moily
    a)   He is a senior Congress leader from Karnataka
    b)   He was CM of Karnataka from 1992 to 1994
    c)   He served as union mister of the following departments
    ·        Corporate Affairs
    ·        Petroleum and Natural Gas
    ·        Law and Justice
    d)   His 4-novels are as follows
    ·        Kotta
    ·        Suligali
    ·        Tembare: Typhoon
    ·        Sagaradeepa: Ocean lamp
    e)   His 3- poems are as follows
    ·        Halu- Jenu Maththe
    ·        Yakshaprashne
    ·        Nadeyali Samara

    Saraswati Samman:
    ·        Established in 1991 by K. K. Birla Foundation
    ·        Awarded to persons for their outstanding prose or poetry literary works in any language
    ·        Cash price of Rs. 10 lakh is given
    ·        1st recipient of this award – Harivansh Rai Bachchan
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