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13 Oct – 19 Oct 2016) WEEKLY UPDATED CURRENT AFFAIRS FOR WEEK 41/52 WEEKLY UPDATED CURRENT AFFAIRS FOR WEEK 41/52 (13 OCT – 19 OCT 2016) 1. India and Russia signed Bilateral Agreement for Development of Agro Irradiation Centres (a) On 13 Oct 2016, India and Russia signed a Bilateral Agreement for Cooperation in the Development of a Network of 25 Integrated Infrastructure Irradiation Centres. (b) In the first phase, 7 Irradiation Centres will be set up in Maharashtra. (c) Irradiation is a low Radiation Treatment Process used in Post-Harvest periods of Foods and Food grains by spoiling from Germs, Insect Infestation and Microbiological Contamination. 2. Ajay Kumar Bhalla appointed as new DGFT (a) On 13 October 2016, Ajay Kumar Bhalla appointed as new Director General of Foreign Trade succeeding Anup Wadhawan. (b) Prior to his new appointment, Bhalla was the Additional Secretary in the Commerce Ministry. (c) DGFT falls under the ambit of Ministry of Commerce and Industry with the responsibilities to formulate and implement Foreign Trade Policy for Promoting Exports in India. 3. Gurumoorthy Mahalingam appointed as Whole Time Member of SEBI (a) Union Finance Ministry appointed Executive Director of RBI, Gurumoorthy Mahalingam as a Whole Time member of Capital Market Regulator, SEBI for a period of 5 years or till he attains the age of 65, whichever is earlier. (b) The Post of Whole Time Member of SEBI was lying vacant since July 2016 due to the former member Prashant Saran demitted his office on retirement. Facts about SEBI (a) Securities and Exchange Board of India is the Regulator for the Securities Market in India established in 1988 and given the Statutory Power on 12 April 1992 following the enactment of SEBI Act, 1992. (b) Prior to the establishment of SEBI, Controller of Capital Issues was the Regulator of Capital and Securities Market in India under Capital Issues (Control) Act, 1947. (c) Headquarters of SEBI is located in Mumbai. (d) SEBI has four Regional Offices at New Delhi, Kolkata, Chennai and Ahmedabad. It has also 16 Local Offices around the Country. (e) Current Chairman of SEBI – Upendra Kumar Sinha since 18 February 2011. 4. World Sight Day observed on 13 October with the Theme “Stronger Together” (a) The World Sight Day observed across the World on 13 October with the theme “Stronger Together”. (b) The Day is observed on the 2nd Thursday of October each year with an aim to focus Global Attention on Blindness and Vision Impairment. 5. World’s Longest Reigning Monarch of Thailand Bhumibol Adulyadej died (a) On 13 Oct 2016, Thailand’s King Bhumibol Adulyadej passed away. (b) He was the World’s longest serving Head of State and longest reigning Monarch in the Thailand history. (c) Prime Minister of Thailand – Prayut Chan-O-Cha (d) Capital – Bangkok (e) Currency – Thai Bhat 6. Union Cabinet approved Signing of MoU between India and Hungary on Water Management Cooperation (a) On 13 Oct 2016, Union Cabinet under the Chairmanship of PM Narendra Modi gave its approval for signing of a MoU between India and Hungary on Cooperation in the field of Water Management. (b) The MoU will enhance bilateral Cooperation and will encourage the Development of bilateral relations by joint activities and mutual exchange of scientific delegations and Experts in the field of Water Resources Development and Management. (c) Hungary is a Country in Central Europe surrounded by Romania, Slovenia, Austria, Vienna and Slovakia. (d) President of Hungary – Janos Ader, Prime Minister of Hungary – Viktor Orban (e) Capital of Hungary – Budapest, Currency – Hungarian Forint Leading Institute for Banking, Railway & SSC B – 61 A & B, Saheed Nagar & 1441, Opp. IOCL Petrol Pump, CRPF Square, Bhubaneswar 1 Ph. : (0674) 6556677, 8093556677. Web : www.vanik.org, E-mail : [email protected] WEEKLY UPDATED CURRENT AFFAIRS FOR WEEK 41/52 7. Book titled “Jihad in My Saffron Garden” Authored by Roxy Arora released (a) The Book titled Jihad in My Saffron Garden authored by Roxy Arora released. (b) The book contains the Story of a Woman, who crusades to restore Kashmiriyat in the wake of World Peace and Religious Tolerance. 8. Union Cabinet approved signing of MoU between EXIM Bank and New Development Bank (a) On 13 October 2016, the Union Cabinet chaired by PM Narendra Modi approved signing of MoU and Cooperation Framework between Export Import Bank of India and BRICS promoted New Development Bank to strengthen Trade and Economic Relations among the BRICS Countries. (b) The MoU known as BRICS Interbank Cooperation Mechanism. Facts about New Development Bank (a) New Development Bank (NDB) is a Multilateral Development Bank established by BRICS Nations in 21 July 2015 with an objective of funding Public, Private Infra Projects in the Developing Countries through Sustainable Development. (b) It was proposed in 4th BRICS Summit, New Delhi in 2012 and BRICS States signed the Agreement on NDB in 6th BRICS Summit, Brazil in 2014. (b) The Initial Authorised Capital of the Bank is $ 100 billion and Initial Subscribed Capital of $ 50 billion @ $ 10 billion as Paid-in Shares per each member countries. (c) Headquarters of NDB is located in Shanghai, China. (d) KV Kamath, former head of ICICI Bank is the inaugural President and China’s Xian Zhu is the Vice President of the New Development Bank. (e) NDB has opened its first Regional Office at Johannesburg, South Africa. 9. PM Modi inaugurated Shaurya Smarak in Bhopal (a) On 14 Oct 2016, Prime Minister Narendra Modi inaugurated a War Memorial named “Shaurya Smarak” in Bhopal, the Capital City of Madhya Pradesh. (b) The total cost incurred in building the War Memorial stands at Rs. 41 crore and it is the first War Memorial in India built in the Memory of Martyrs. 10. Union cabinet approved setting up of IIM at Jammu (a) On 13 Oct 2016, the Union Cabinet chaired by PM Modi approved the establishment of Indian Institute of Management (IIM) at Jammu against a cost of Rs. 62 crore for initial four years from 2016 to 2020. (b) The approval is a part of Prime Minister’s Development Package for Jammu and Kashmir. (c) At present, there are 19 IIMs established in India. 11. American Singer, Song Writer and Artist Bob Dylan won the 2016 Nobel Prize in Literature for having created New Poetic Expressions within the great American Song Tradition. 12. India to eliminate use of Hydro Fluoro Carbons (HFC) by 2030 (a) On 13 Oct 2016, India announced to eliminate use of the Green House Gas HFC-23 by 2030. (b) It was announced during the 28th Meeting of Parties to the Montreal Protocol at Kigali in Rwanda. (c) The Montreal Protocol on Substances to Vienna Convention is an International Treaty came in to force in 1989 with an aim to reduce the Production and Consumption of Ozone Depleting Substances in order to protect the Earth’s fragile Ozone Layer. (d) So far, the Montreal Protocol has been ratified by 197 Parties. (e) HFC-23 is a byproduct of HCFC-22 (Hydro Chloro Fluoro Carbon) used in Industrial Refrigeration is a potent Green House Gas with Global Warming Potential much more than CO2. 13. International Day for Disaster Reduction observed on 13 October (a) On 13 October, International Day for Disaster Reduction was observed across the World with the theme “Live to Tell – Raising Awareness, Reducing Mortality”. (b) International Day for Disaster Reduction was instituted by UNGA in 1989 to promote a Global Culture of Risk Awareness and Disaster Reduction. (c) Prior to 2009, the day was observed annually on the Second Wednesday of October, but later the UNGA formally designate 13 October after adopting Resolution. Leading Institute for Banking, Railway & SSC B – 61 A & B, Saheed Nagar & 1441, Opp. IOCL Petrol Pump, CRPF Square, Bhubaneswar 2 Ph. : (0674) 6556677, 8093556677. Web : www.vanik.org, E-mail : [email protected] WEEKLY UPDATED CURRENT AFFAIRS FOR WEEK 41/52 14. Brazil won the Goa 1st BRICS U-17 Football Tournament (a) On 15 Oct 2016, Brazil won the 1st BRICS Under-17 Football Tournament defeating South Africa in the final played at Nehru Stadium of Margo, Goa. (b) Russia was placed in 3rd defeating China. 15. Russia and India inked Rs. 39,000 crore on five S-400 “Triumf” Air Defence Missile Systems (a) On 15 Oct 2016, India signed a Rs. 39,000 crore deal with Russia to purchase five S-400 “Triumf” Air Defence Systems with a target range of 400 kms. (b) S-400 “Triumf” is a long range Air Defence Missile System and upgraded version of S-300 manufactured by Russia’s Almaz-Antey. (c) Apart of this, India and Russia also announced to make four Stealth Frigates Naval Ships and setting up a Joint Production Facility making Kamoc Helicopters under ambitious “Make in India” Programme. (d) It is to note that, India is the 2nd Defence Exporter after China. 16. India and Russia signed 16 Agreements on various Sectors (a) On 15 Oct 2016, India and Russia signed 16 Agreements in various fields including Defence, Infrastructure, Energy, Space and Ship Buildings. (b) These Agreements were signed in the presence of PM Narendra Modi and Russian President Vladimir Putin during the 17th India-Russia Annual Bilateral Summit held in Goa. (c) The Agreement also includes setting up of Investment Fund of $ 1 Billion by India’s National Investment & Infrastructure Fund (NIIF) and Russian Direct Investment Fund (RDIF). 17. PM inaugurated 3 Hydro Projects in Himachal Pradesh with a Generating Capacity of 1732 MW (a) On 18 Oct 2016, PM Narendra Modi three Hydro Electric Projects in Himachal Pradesh with a total Electricity Generating Capacity of 1732 Megawatt. (b) The three Hydro Projects are 800 MW Koldam Dam Hydro Power over Sutlej River, 520 MW Parbati Phase III Hydro Power over Sainj River and 412 MW Rampur Hydro Projects over Sutlej River under the supervision of Bharat Heavy Electricals Limited.
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