Daily Current Affairs Updates- 19th August 2015

    Daily Current Affairs Updates- 19th August 2015
    Daily Current Affairs Updates- 19th 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.

    NATIONAL:
    1).Under theSansad Adarsh Gram Yojana (SAGY)initiativeTata Trust will develop 264 villages inVijayawada Lok Sabha Constituency of Andhra Pradesh
    ·        SAGY – a scheme which requires every Member of the Parliament(MPs) to identify and develop one village from their constituency as a model village
    ·        MPs will be responsible for developing the socio-economic and physical infrastructure of3villages by2019
    ·        They should develop a8-villages each by2024
    ·        The collaboration with Tata Trust with SAGY was made possible by the efforts of MP of VijayawadaSrinivas Kesineni who approachedRatan Tata – chairman of Tata Sons to develop model villages
    ·        Tata Trust –1st trust to make grass root level changes to develop model villages under SAGY initiative
    ·        This project does not include the Vijayawada city and the urban areas
    ·        Andhra Pradesh to provideRs.600 crore – Rs. 700 crore funds for the project
    ·        Tata trust has recruited over1400volunteers from these 264 villages who will be trained for the job

    2).Union Environment MinisterPrakash Javadekar announced the demarcation of theeco-sensitive zone (ESZ) around theOkhla Bird Sanctuary in Delhi
    ·        Okhla Bird Sanctuary – situated inNoida Gautam Buddh Nagar district on Delhi-Uttar Pradesh border over an area of3.5 square kilometres
    ·        It is a bird sanctuary established by the Uttar Pradesh in 1990 under theWildlife Protection Act 1972
    ·        It is known as haven for300bird species especially water birds
    ·        National Green Tribunal (NGT) had issued an order barring infrastructure development within10km radius from the sanctuary’s boundary not allowing people to get occupancy certificates in these areas
    ·        NGT directed the Union Ministry of Environment to issue the final notification onESZ demarcation around the sanctuary

    3).Union Minister launched two funds under theSmall Industries Development Bank of India (SIDBI)
    ·        India Aspiration Fund(IAF)
    a)   Life Insurance Corporation of India(LIC) – partner and co-investor in the fund
    b)   SIDBI under IAF will invest in venture capital funds for meeting equity requirement of MSME start-ups
    c)   An initial corpus ofRs. 2000 crore has been allotted for IAF
    ·        SIDBI Make in India Loan for Enterprises(SMILE)
    a)   It is a debt fund which will facilitate soft term loans to MSMEs to meet debt-to-equity norms
    b)   Its initial corpus isRs. 10,000 crore
    AWARDS& ACKNOWLEDGMENTS:
    4).In the recently releasedUltimate Travelist of Lonely PlanetTaj Mahalhas been ranked as the5thmost attractive travel hotspot in the world
    ·        This list is prepared based on the voting of travel writers and Lonely Planet’s staffs on their favorite sites
    ·        Taj Mahal – India’s historic Mughal mausoleum which houses the tomb of the Mughal queen Mumtaz Mahal and built by Emporer Shah Jahan is located in Agra near New Delhi
    ·        The Temples of Angkor
    a)   Placed at the1st position in the list
    b)   It’s a UNESCO World Heritage site
    c)   It has more than 1000 temples, shrines and tombs and is visited by more than 2 million tourists annually
    d) Location – northernCambodia
    ·        The Great Barrier Reef
    a)   Placed at the2ndposition in the list
    b)   A UNESCO World Heritage site
    c)   Location –Australia
    ·        Inca city of Machu Picchu
    a)   A UNESCO World Heritage site at the3rdposition
    b)   Location –Peru
    ·        Great Wall China
    a)   A UNESCO World Heritage site at the4th position
    b)   Location –China

    5).TheAward Selection Committee under the Zafar Iqbal have recommended TPP Nair, Romeo James and SP Misra for theDhyan Chand Award 2015
    ·        Dhyan Chand Award – India’s highest award for lifetime achievement in sports and games given by theUnion Ministry of Youth Affairs and Sports
    ·        It was established in2002 and named after legendary Indian hockey playerDhyan Chand
    ·        The award constitutes of the following
    a)   A plaque
    b)   Scroll of honor
    c)   Cash award of 5 lakh rupees
    ·        Zafar Iqbal – former Indian hockey captain – head of Award Selection Committee
    ·        Sports personnel recommended for Dhyan Chand Award 2015 are as follows:
    a)   TPP Nair– former volleyball captain of Indian
    b)   SP Mishra – former Davis Cup captain – chairman of All Indian Tennis Association Selection Committee(AITASC)
    c)   Romeo James – current goalkeeper of Indian Hockey team
    INTERNATIONAL:
    6).InSri Lankan Parliamentary election 2015, United National Party(UNP)led United National Front for Good Governance(UNFGG) won106 seats out of total225 seats
    ·        Current Prime MinisterRanil Wickremesinghe leader of UNP and UNFGG to form new government with the support of95 MPs of United People’s Freedom Alliance(UPFA) loyal to PresidentMaithripala Sirisena
    ·        Election was held on17th August 2015 to elect 225 members to Sri Lanka’s 15th Parliament
    ·        Seat allocation are as follows
    a) Total seats –225
    b) Directly elected seats –196
    c)  Multi member electoral seats –22
    d) National list seats –29
    ·        Voting turnout –77.66%
    ·        United National Front for Good Governance(UNFGG)
    a)   Won 93 seats in direct election seats
    b)   Won 13 seats in national list
    c)   Therefore total seats won are 106
    d)   Leader –Ranil Wickremesinghe
    ·        United People’s Freedom Alliance (UPFA)
    a)   Leader – former PresidentMahindra Rajapaksa
    b)   Total seats won – 95
    c)   Won directly – 83
    d)   National list – 13
    ·        Tamil National Alliance(TNA)
    a)   Largest party representing Sri Lankan Tamilians
    b)   Won – 16 seats
    ·        Janatha Vimukthi Peramuna – won 6 seats
    ·        Sri Lanka Muslim Congress – won 1 seat
    ·        Eelam People’s Democratic Party – won 1 seat
    BANKING:
    7). RBIgrantedin-principle approval to11-applicants to startpayment banks
    ·        The Committee of the Central Board(CCB) selected the following 11 companies to be approved by RBI
    a)   Reliance Industries
    b)   Airtel M Commerce Services
    c)   Tech Mahindra
    d)   Vodafone m-pesa
    e)   Aditya Birla Nuvo
    f)    Department of Posts
    g)   Cholamandalam Distribution Services
    h)   Fino PayTech
    i)    PayTm
    j)    National Securities Depository Ltd.
    k)   Sun Pharma
    ·        Payment banks will be able to take deposits and remittances, internet banking and other specified services
    ·        They cannot undertake lending services
    ·        Payment banks minimum capital –Rs. 100 crore
    ·        FDI of payment banks –74%
    ·        Finance minister had directed RBI to create a framework for licensing payment banks to meet the government’s financial inclusion target
    ·        Their holding are restricted to a maximum balance ofRs. 1 lakh per individual customer
    ·        The applicants were inspected by External Advisory Committee(EAC)under the chairmanDr. Nachiket Mordirector of Central Board of RBI

    8). Life Insurance Corporation of India (LIC) launched its maiden productUnit Linked Insurance Plan (ULIP)
    ·        ULIP – also known as‘New Endowment Plus’ offers investment-cum-insurance
    ·        The basic sum of ULIP is10 times higher than the annualized premium and105% of the total premium
    ·        ULIP provides4-fund options to policy holders as follows
    a)   Bond fund
    b)   Balance fund
    c)   Secured fund
    d)   Growth fund
    ·        ULIP provides dual benefits of risk cover and investment opportunity in market to the policy holder
    ·        It also provides the option of partial withdrawal under this plan
    ·        Policy holders can change their fund options for4 times in a given policy for free of charge

    BUSINESS:
    9). Bombay Stock Exchange (BSE) instituted a new system Suspicious Transaction Reports(STR)
    ·        Suspicious Transaction Reports – reports of suspicious trades that helps to keep a check on  money laundering through stock markets
    ·        The member of theNational Stock Exchange will report details of the STR to the government’sFinancial Intelligence Unit (FIU) on a monthly basis
    ·        Financial Intelligence Unit
    a)   It was established by the government in2004
    b)   It is the central national agency responsible for receiving, analyzing and processing financial transactions
    c)   It is an independent body working under theEconomic Intelligence Council(EIC) headed by theUnion Finance Minister
    ·        Trading members should submit the data through a specificSTR-FIUmodule on theBSE Electronic Filing System (EFS)
    ·        The registration details of the member with FIU along with the information about the principal officers and the designated directors for thePrevention of Money Laundering Act (PMLA) should be provided by the trading members
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