Daily Current Affairs Updates- 17th August 2015

    Daily Current Affairs Updates- 17th August 2015
    Daily Current Affairs Updates- 17th 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.

    Are You preparing for IBPS PO 2019? Start your preparation with Free IBPS PO Mock Test 2019 – Take Test Now
    NATIONAL:
    1). India andBangladeshsigned a MoU for full cooperation to deal with theFake India Currency Notes(FICN)smuggling
    ·        MoU signed at a meeting of theJoint Task Force Currency Notes(JTFFC)inDhaka on 12th and 13thAugust 2015
    ·        This meeting was held as per the pact signed by Prime MinisterNarendra Modiin Bangladesh on 6th and 7th June 2015
    ·        As per the MoU India will provideAdvance note sorting machines to Bangladesh to detect FICN circulation at
    a)   International airports
    b)   Immigration points
    c)   Integrated crossing points
    d)   Banks
    e)   Financial institutions
    ·        India will establishState-of-the-art facilities for examination of fake currency notes in Bangladesh
    a)   It will help to maintain a digital record of analysis and seizures of fake notes
    b)   It also helps in creating a database of smugglers which can be used in both the countries
    ·        India will also help Bangladesh to set upForensic Science Laboratoryfor
    a)   Examining fake notes
    b)   Maintaining a digital depository of forensic reports
    ·        November 2015– next Joint Task Force

    2).UnionMinistry of Home Affairs (MHA)established apan-India National fingerprint database
    ·        This database will help in speedy identification of criminals and investigation of crimes
    ·        It will provide fingerprint records of nearly28 lakh convicts
    ·        National Informatics Centre(NIC) – nodal agency for creating cloud based national record by linking finger print database of all states and Union Territories bureaus
    ·        Gujarathas the biggest database with12 lakhrecords
    ·        Delhi’sCentral Finger Print Bureau(CPFB) – has digitized data of9.7 lakh finger print records of criminals
    ·        Followed byAndhra Pradesh with5.3 lakhrecords andMadhya Pradesh with3 lakh records
    APPOINTMENTS:
    3).On 14th August 2015,Ajith Kumar Seth was appointed as theChairmanofPublic Enterprises Selection Board (PESB)
    ·        He succeededAtul Chaturvedi
    ·        Ajith Kumar Seth will serve as chairman of PESB for3 years till he attains65 years
    ·        He was appointed byDepartment of Personnel and Training(DoPT)
    ·        He was previously theCabinet secretary till 13thJune 2015
    ·        He was anIAS officer ofUttar Pradeshfrom the1974 batch
    ·        Two other IAS officers who were appointed as members of PESB are
    a)   Gauri Kumar
    b)   Anshuman Das – formerCMD ofNALCO
    ·        PESBis a high powered body constituted in1987by the government of India to develop sound managerial policy for theCentral Public Sector Enterprises(CPSE)and to advise the government on the appointments of CPSE’s
    a)   Chairman
    b)   Managing director
    c)   Functional Director

    BUSINESS:
    4).India’sBirla Corporation signed an agreement with France’sLafarge Groupto acquire itsJojobera unit inJharkandandSonadih in Chattisgarh for a sum of Rs.5000 crore
    ·        Birla Corp will acquire these cement units along with its brands
    a)   Concreto
    b)   PSC
    ·        The Jojobera units in Jharkand and Sonadih have total cement capacity of5.15 million tones per annum
    ·        They also have an adequate amount oflimestone
    ·        Lafarge disinvested these two units to end its global merger with Switzerland’sHolcim Ltd and operations in India as per the directions given byCompetition Commission of India(CCI)
    ·        Jafarge-Holcim Group which also includes India’sACC cement andAmbuja Cement will have a cement capacity to about68 million tonesin India after the disinvestment

    5). HDFCsigned an agreement to sell9% of its shares inHDFC Life Insurance to Britain-basedStandard Life forRs. 1700 crore
    ·        HDFC Life launched in2000 is a joint venture betweenHDFC andStandard Life
    ·        HDFC Life is the1st private life insurer to get a license to operate in India
    ·        Priorto the agreement, the share details are as follows
    a)   HDFC –70.65%
    b)   Standard Life –26%
    ·        Nowafter agreement the present share status are as follows
    a)   HDFC –61.65%
    b)   Standard Life –35%
    ·        HDFC will transfer17.5 crore shares at the rate ofRs.95 per share to Standard Life
    ·        This agreement was made after the Union Government approved the hike ofFDIin insurance sector from26% to49% which in turn increased the role of Standard Life in the joint venture
    ·        Important points to know about Insurance sector in India:
    a)   There are about52 insurance companies in India which are of two types
    ·        Life insurance –24
    ·        Non – life insurance –28
    b)   Life Insurance Corporation – Only public sector company among life insurance companies
    c)   General Insurance Corporation of India(GIC) – only national re-insurance company
    d)   Kotak Mahindra Bank – 1st bank to enter non-life insurance sector
    e)   70 billion US dollars – market value of India’s Insurance sector
    f)    Even a zero balance account opened before 28th August 2014 will get an insurance cover ofRs. 1,00,000 as per thePradhan Mantri Jan Dhan Yojana

    6). Hero Cycles acquired majority shares from UK’sAvocet Sports
    ·        It is the1stoverseas acquisition of Hero Cycle
    ·        Avocet Sports – one among the top 3 companies in UK in
    a)   Bicycles
    b)   E-bikes
    c)   Bicycle parts
    d)   Bicycle accessories
    ·        Hero cycle enters into high-end bicycle market in Europe by this acquisition
    ·        With 20-years experience Avocet has tie-ups with the followingglobal retailers
    a)   Tesco
    b)   ASDA
    c)   Halfords
    d)   Amazon.com
    e)   Shop Direct
    f)    Hero Cycles
    Daily Current Affairs Updates-Check Below:
    Daily Current Affairs Quiz- Check Below:

    / 5. Reviews