14 July 2016 - Current Affairs

Theresa May becomes new British Prime Minister
  • Conservative party leader Theresa May (59-year) became Prime Minister of United Kingdom.
  • She succeeds David Cameron, who had resigned in the wake ofBrexit referendum that ended his six-year-long stint as the Prime Minister of Britain.
  • She became UK’s second-ever female Prime Minister afterMargaret Thatcher (1979-1990)
  • Theresa has worked with the Bank of England from 1977 to 1983.
  • She had served as a Councillor for the London Borough of Merton from 1986 to 1994.
  • In the outgoing Prime Minister David Cameron she had served ashome secretary of UK from May 2010 to July 201.
  • She was the longest-serving home secretary of UK in last 50 years.

Ashok Patnaik appointed new National Intelligence Grid chief

  • Senior IPS officer Ashok Patnaik has been appointed as CEO of the National Intelligence Grid (NATGRID).
  • Patnaik is currently serving as Additional Director in theIntelligence Bureau and he will continue to hold this post till hissuperannuation in 2018.
  • The NATGRID is a centralized agency which stores sensitive personal information on citizens from almost two dozen agenciesto be made available for counter-terror investigations.

Nabam Tuki takes charge as Arunachal Pradesh CM

  • Nabam Tuki resumed his duties as Chief Minister of Arunachal Pradesh at Arunachal Bhavan in New Delhi.
  • As of December 15 last the Congress had 47 MLAs in a House of 60, with the BJP having 11 and two Independents. Of the 47 Congress MLAs, 14 were disqualified by the Speaker.
  • Earlier,Supreme Court restored the ousted Congress government in Arunachal Pradesh.

K V R Murthy new CMD of Jute Corporation

  • K V R Murthy has taken over as chairman-cum-managing director of the Jute Corporation of India Limited from July 2.
  • His appointment is for a period of five years or till the date of his superannuation.
  • Earlier,he was associated with Eastern Railways in the capacity ofChief Commercial Manager.
  • The Jute Corporation of India Ltd. (JCI) is based in Kolkata is an agency of the government of India that assists jute cultivators in states where this crop is grown, providing minimum price support.
CCEA approves disinvestment of 15% paid-up equity in NBCL
  • The Cabinet Committee on Economic Affairs (CCEA) has approved disinvestment of 15% paid-up equity in the National Building Construction Corporation Limited (NBCL) through the Offer for Sale route.
  • According to Law Minister Ravi Shankar Prasad, the government hopes to earn over one thousand seven hundred crore rupees from the disinvestment.
  • The Cabinet Committee has also approved transfer of shares byITI Limited to Special National Investment Fund to meet requirement of Securities and Exchange Board of India’s minimum public shareholding.

Pay less for flight ticket cancellations from August 1

  • Revised norms of ticket cancellation charges and bars airlines from levying additional amount for refund process are coming into force from August 1.
  • According to Civil Aviation Minister Ashok Gajapathi Raju the cancellation amount will not to exceed basic fare plus fuel surcharge.
  • Airlines cannot levy additional charge to process the refund.

Pokhara-New Delhi direct bus service launched

  • The first direct bus service between Pokhara (Nepal) and New Delhi (India) has been launched to connect South Asia’s two important cities.
  • This bus service was flagged off by Nepal Home Minister Shakti Bahadur Basnet and India’s ambassador to Nepal Ranjit Rae from Pokhara (Nepal).
  • The bus service was launched as per the Motor Vehicle Agreement(MVA) signed between both countries.

Talgo becomes the fastest train at 180 km/hr
  • Spanish-made Talgo has become the fastest train in the country.
  • In a trial conducted by Indian Railways on the Mathura-Palwalroute, Tago clocked a speed of 180 kms per hour and covered 84 kms in 38 minutes.
  • The train successfully completed its trial run due to its light andadvanced technology, it surpassed the record of Gatimaan Express.
  • The next trial will be carried out on the route of Mumbai-boundRajdhani Express from Mathura.

BSE introduces ‘Paperless SIP’ for mutual fund investors

  • Bombay Stock Exchange(BSE) is introducing ‘Paperless SIP‘ that would allow mutual fund investors to make transactions through various modes of payments.
  • The additional feature on BSE’s mutual fund platform – StAR MF – would allow MF distributors to register SIPs for their clients, who can pay SIP amounts through various modes.
  • The new facility to be launched is available only for non-dematerialised transactions and for installment of amount more than Rs 2 lakh.
  • Under the Paperless SIP facility, the investors would receive an e-mail for all the payment modes, including direct pay, nodal account, one-time mandate and cheque, after the SIP has been registered.

SBI signs MoU with IIT Bombay to promote startups

  • State Bank of India (SBI) has signed a memorandum of understanding (MoU) with the Indian Institute of TechnologySociety for Innovation and Entrepreneurship (SINE), (IIT) Bombay’s technology business incubator, to promote innovation by startups in the financial sector.
  • Both the parties will identify FinTech startups that have products or applications to cater to the financial sector and can help SBI explore opportunities to enhance the synergy for their banking services.
  • SBI will provide a platform for testing and may be also check for any specific business linkages.
  • This MoU also aims to help evaluate startups operating out of SINE or those being promoted by SINE for early stage funding within the bank’s norms.

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