Daily Current Affairs Updates– 27th February 2016

    Daily Current Affairs Updates– 27th February 2016
    Daily Current Affairs Updates– 27th February 2016:
    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. Union Government to provide 390 MW power to Karnataka:
    ·       Union Government has decided to provide 390 Megawatt additional power to Karnataka in view of power crisis in the state.
    ·       This was informed byPower Minister Piyush Goyal after meeting with a delegation of BJP MPs from the state includingUnion Ministers Ananth Kumar and Sadananda Gowda in New Delhi over the issue.

    2. PM Modi to address Kissan Rally in Belgaum:
    ·       Prime Minister Narendra Modi will address Kisan rally in Belgaum.He will be arriving in Belgaum, as part of his tourto address the needs of farmers and tell them about Prime Minister Fasal Bima Yojana, the new crop insurance scheme launched by his Government.

    3. MoU between ICG,PMSA Extended:
    ·       The MoU between Indian Coast Guard, ICG, and Pakistan Maritime Security Agency, PMSA, has been extended.
    ·       This has been done mutually through diplomatic channels for the period of furtherfive years from 17th of March this year.
    ·       External Affairs Ministry said,MoU envisaged cooperation between ICG and PMSA through exchange of information on EEZ violations,apprehended vessels, marine pollution, natural disasters/ calamities, combating smuggling, illicit trafficking in narcotic drugs and piracy and coordination in search and rescue and return sea passage.
    ·       The MOU, signed on 3rd of October in 2005, had come into effect on 16 March 2006.

    4.Nitin Gadkari to lay foundation stones of 4 bridges, four laning of NHs in Assam today:

    ·       Union Transport Minister Nitin Gadkari will lay foundation stones of 4 bridges over the Brahmaputra and four laning of National highways in Assam
    ·       The Union minister will also lay foundation stone of a ship repairing centre at Pandu in Guwahati.
    ·       At Moran, the Union minister will lay foundation stone of four laning of 81 kilometers road at the cost of Rs. 1229 crore.
    ·       He will also declare new national highway between Sivsagar and Lakhimpur and also connecting Jorhat and Lakhimpur via Majuli

    5. 13th World Spice Congress Begins in Ahmedabad:
    ·       13th World Spice Congress will begin in Ahmedabad. The theme of the biennial event is‘Target 2020: Clean, Safe and Sustainable Supply Chain’
    ·       The event is jointly organized by theSpices Board, the Cochin Hill Produce Merchants’ Association, and India Pepper and Spice Trade Association.
    ·       It is supported by Indian Spices& Foodstuff Exporters’ Association and All India Spices Importers& Distributors Association Spices constitute the only Indian exports where the country controls almost half of world trade.
    ·       Out of the total production of spices in India, 15 per cent is exported, contributing 48 per cent in volume and 43 per cent in value in the world spice trade.

    6. Gujarat State Budget 2016-17 presented:
    ·       Gujarat Finance minister Mr. Saurabh Patel presented the Annual State Budget 2016-17 in the legislative assembly.
    ·       The focus of the budget encompassed almost all sectors andsections like youth, women, farmers and infrastructure.
    ·       Annual Development Plan for the year 2016-17 was 85557.78 crore rupees.
    ·       Dr. Ambedkar Chair will be constituted in five universities of Gujarat with aim to promote and spread awareness on Babasaheb’s values and contribution.

    7. Mukesh Ambani remains richest Indian:

    ·       IndustrialistMukesh Ambani remains India’s richest person with a sharp surge of 30 per cent in his net worth to $26 billion, pushing his global rank to 21st on a worldwide rich list topped by Bill Gates.
    ·       The total number of billionaires from India has risen to 111, consolidating the country’s third position after China and the US, according to Hurun Global Rich List 2016, a ranking of the US dollar billionaires currently found in the world.
    ·       Bill Gatesretained the top spot with a fortune of $80 billion in the overall list, Gates was followed byWarren Buffettwith a net worth of $68 billion further followed byAmancio Ortegawith $64 billion net worth in the third place.Jeff Bezos, with $50 billion andCarlos Slim Heluwith $53 billion made it to the top five billionaires in the world.

    8. Modi remains the most powerful Indian : The Indian Express Power List:
    ·       Prime Minister Narendra Modi,remains themost powerful Indian.
    ·       Mohan Bhagwat, the chief of the RSS (the ideological fountainhead of the BJP), holds the second spot, followed byBJP chief Amit Shah, who occupies the third spot.
    ·       Finance Minister Arun Jaitley and Congress President Sonia Gandhi covet the fourth and fifth spots.

    9. ‘Neerja’ declared tax free in Delhi, Uttar Pradesh:
    ·       Delhi and Uttar Pradesh Government announced thatactress Sonam Kapoor-starrer Neerja will be tax free in the state.
    ·       The movie is based on the life ofyoung flight attendant Neerja Bhanot, who died trying to save the lives of 350-odd passengers on a hijacked Pan Am aircraft in 1986.
    ·       Libya backed Abu Nidal Organization’s tried to highjack Pan Am Flight 73 in Karachi, Pakistan on 5 September 1986 but Bhanot thwarted the hijack attempt by preventing the plane from taking off.
    ·       The film, released on 19 February, has already beendeclared tax-free in Gujarat and Maharashtra.
    ·       Written by Saiwyn Quadras and directed by Ram Madhvani, the biographical film also stars Shabana Azmi, Shekhar Ravijani, Jim Sarbh and Yogendra Tiku in prominent roles.

    INTERNATIONAL:
    10. World’s First Waste Supermarket Opens in Denmark:

    ·       The World’s First Waste Supermarket,that only sells expired food, has opened in Copenhagen, Denmark.
    ·       ‘Wefood’ sells products,from supermarket chains that would otherwise throw the food away, at reduced rates.
    ·       DanChurch Aid, a local NGOsetup the shop,launched with the help of crowdfunding .
    ·       Notably, 1.3 billion metric tonnes of food is wasted every year worldwide.

    11. Sri Lankan chamber of commerce support India-Sri Lanka trade pact:
    ·       The Ceylon Chamber of Commerce has come out in support of the proposedIndia -Sri Lanka trade pact.
    ·       Trade body said it is in favour of signing themutually beneficial Economic and Technology Cooperation Agreement with India.
    ·       It also stressed on the need for systematic consultations by the government with the Private Sector before the signing of the agreement.

    12. Parliamentary elections begin in Iran:
    ·       Iranians went to the polls today in parliamentary and Assembly of Experts elections, seen as a contest between hardliners entrenched in power and allies of pragmatistPresident Hassan Rouhani seeking to expand their influence.

    13. USA submits draft resolution to United Nations over North Korea:

    ·       United States, backed by China, has submitted a draft resolution to theUnited Nations Security Council aimed at imposing tougher sanctions onNorth Korea.
    ·       It comes in response to North Korea’s recent nuclear test and missile launch. The measures would for the first time require UN member states to inspect all cargo to or from North Korea.

    14. Greece recalled ambassador to Austria over divisions in EU:
    ·       Greece has recalled its ambassador to Austria amid sharp divisions among European Union (EU) states over the migrant crisis.
    ·       It acted after Austria hosted a meeting with Balkan states on the migrant issue, to which Greece was not invited.

    BANKING :
    15. IDBI Bank Gets SEBI Nod To Raise Rs 3,771 cr Via QIP:

    ·       SEBI has given approval to State-owned IDBI Bank market regulator to raise Rs 3,771 crore through issue of shares to qualified institutional playersa (QIP) move which would dilute the government’s holding significantly in the lender.
    ·       As per the bank it is exempted from the applicability under the Regulation of 82(c) of Sebi (ICDR) Regulation, 2009 as per Regulation 113 of Sebi (ICDR) Regulation, 2009.
    ·       The current market valuation, Rs 3,771 cr. represents about 36.6 per cent equity stake of IDBI Bank.
    ·       The government holding in the bank stands at 80.16 per cent. Its current market capitalization stood at Rs 10,583.30 cr.

    16. NSE forms Committee to expedite IPO Process:
    ·       TheNational Stock Exchange announced that it has formed a commitee to expedite the process of going public.
    ·       Under Market regulator Sebi’s norms, a stock exchange can get listed but not on its own platform.
    ·       WhileBSE has expressed its agreement to launch NSE’s IPO and has approached SEBI for its approval.

    BUSINESS AND ECONOMY:
    17. Hyundai launches India’s first digital car outlet:

    ·       Hyundai Motor India Limited (HMIL) has inauguratedIndia’s first Digital Automotive Experience Outlet called Unity Hyundaiin the national capital.
    ·       The company has taken a ‘New Thinking, New Possibility” approach which is aimed at offering customers a completely new way to shop for a car by adopting digital-screens and artworks according the varying tastes of different buyers.
    ·       The experience has been designed keeping the customer as the primary focal point.

    18.Reliance Capital To Transfer Commercial Finance Business Into Separate Firm:
    ·       Reliance Capital said that it willtransfer its all commercial finance division into a separate companyto unfold the value through sale of stake post the transfer.
    ·       Reliance Capital would be apply to the RBI for registering itself as aCore Investment Company (CIC) and this move would also facilitated the application of banking as license and when the apex bank’s policy permit
    ·       The proposal will enhance managementfocus on Reliance Commercial Financeand also provide flexibility to the company to unlock value through stake sale.
    ·    Reliance Life Insurance and Reliance Asset Management, both subsidiaries of Reliance Capital, already have a strategic partner Nippon Life Insurance – with 49% stake.

    19. Times Internet partners with Investopedia to deliver trusted financial content to India:
    ·       Indian largest digital network Times Internet announced strategic partnership withInvestopedia.com, one of the web’s premier destinations for financial information.
    ·       In this partnership Investopedia and Times Internet willcollaborate to create and curate a blend of local and international content, knowledge events and seminars to grow the brand amongst the audience in India.
    ·       Investopedia is the world’s largest financial educational website in India, leveraging Times Internet’s 150 million monthly unique users.
    ·       Times Internet will drive local commercialization of Investopedia across both desktop and mobile. 

    APPOINTMENTS:
    20. Justice Vineet Saran sworn in as Chief Justice of Odisha High Court:

    ·       Justice Vineet Saran was sworn in asnew chief justice of the Orissa High Court.
    ·       Governor of Odisha Dr. S C Jamir administered the oath of office to the new chief justice on the High Court premises in Cuttack, Odisha.

    21. Jonathon Sinclair Neal appointed CEO of AAE Travel:
    ·       Expedia, the online travel company has appointedJonathon Sinclair Neal as the Chief Executive Officer of AAE Travel.
    ·       AAE Travels is thejoint venture between AirAsia and Expedia Inc.Jonathon will be based out ofSingapore.
    ·       Currently, Jonathon was the Chief Financial Officer of AAE Travel where he was responsible for all aspects of finance as well as corporate strategy and business analytics

    22. Ashwini Nangia becomes Director of CSIR-National Chemical Lab, Pune:
    ·       Ashwini Nangia has been appointed as theDirector of the CSIR-National Chemical Laboratory, Pune.
    ·       He is a JC Bose National Fellow and an elected Fellow of the Royal Society of Chemistry, London, Indian Academy of Sciences, Bangalore, Indian National Science Academy, New Delhi

    23. Ratan Tata To Head Indian Railways’ innovation Committee:

    ·       Suresh Prabhu, Minister of Railwayhas announcedRatan Tata to head the Indian Railway Innovation Committee.
    ·       In 2016- 2017 he has announced plans to set up a dedicated cross functional team calledSpecial Unit for Transportation Research and Analytics (Sutra).
    ·       The main aim is to carry out detailed analysis leading to optimized investment decisions and operations. 
    ·       The initiative would be administered by an Innovation Committee comprising reputed investors, representatives fromNational Academy of Indian Railways, Railway Board and ‘Kayakalp’ headed by Ratan Tata.

    24. Wikimedia Head Tretikov quits over leaked plans:
    ·       Lila Tretikov, Executive Director of Wikimedia Foundationwhich maintains Wikipedia resigned from her post over the group’s leaked plans.
    ·       Leaked documents surfaced over the internet suggested that wikipedia will launch its own search engine to compete with Google.

    AWARDS AND HONOURS:
    25. Ranveer Singh selected for Dinanath Mangeshkar Award:

    ·       Actor Ranveer Singh was selected forPandit Dinanath Mangeshkar award. The award will be bestowed upon Ranveer by Lata Mangeshkar at a function to be held in Pune.
    ·       The award is annually conferred on artistson 24 April to commemorate Pandit Dinanath Mangeshkar’s death anniversary

    SPORTS:
    26. Gianni Infantino elected as new FIFA President:

    ·       UEFA General Secretary Gianni Infantinowas elected as the Ninth FIFA President 
    ·       Swiss Football executive Infantino defeated Asian Football Confederation head Sheikh Salman, Jordan Football Association President  Prince Ali Bin al-Hussein and Former FIFA executive Jerome Champagne.

    27. Mumbai Cricket Association announces 2 Crore Bonus to the Mumbai team:
    ·       Mumbai Cricket Association has announced a bonus of Rs. two crore to the Mumbai squad led by Aditya Tare that won the Ranji Trophy.
    ·       This is the 41st time that Mumbai has won the coveted National Championship.
    ·       Association Vice-President and former India captain Dilip Vengsarkar also hailed the team’s performance and congratulated the entire team, support staff and members of the Cricket Improvement Committee as well.

    28. Female Officials in World T20 for First Time:

    ·       ICC,for the First time hasincluded 2 female officials in the 31 member playing Control team for March’s women’s World T20 Tournament.
    ·       New Zealand’s Kathleen Cross and Australian Claire Polosak will be officiating in the tournament.
    ·       Six Indian officials including Match Referee Javagal Srinath have also been included in the Playing Control Team.

    29. FIFA Opens new $140million World Football Museum :
    ·       FIFA opened its new $140 million World Football museum in Zurich.
    ·       The Museum houses football artifacts and memorabilia acquired by the organisation.
    ·       Museum also has a souvenir shop and a football skill games section.

    OBITUARY:
    30. Cricketer BK Garudachar Passes Away:

    ·       India’s oldest first-class cricketer and former captain of Mysore as Karnataka was called till 1974 – BK Garudachar passed away in Bengaluru on Friday. He was 99.
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