Home Daily Updates IMPORTANT CURRENT AFFAIRS & DAILY NEWS UPDATES : 09 - APRIL - 2016
IMPORTANT CURRENT AFFAIRS & DAILY NEWS UPDATES : 09 - APRIL - 2016
Saturday, 09 April 2016 02:52

 

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DAILY NEWS UPDATES

09-APRIL- 2016

 

ICC RELEASED TEST, ODI, AND T20I RANKINGS

The International Cricket Council (ICC) launched the official ICC men’s and women’s Team Rankings from Test, One Day International (ODI) and T20I cricket.

India retained its number one position in the T20 team rankings that it achieved on 26 January 2016 for the first time after August 2011. India retained its position with 126 rating points and is followed by West Indies (125 points) and New Zealand (120 points).

Top 10 teams in ICC Test Rankings

Rank

Team

Matches

Points

Rating

1

Australia

43

4823

112

2

India

32

3535

110

3

South Africa

34

3703

109

4

Pakistan

28

2977

106

5

England

45

4610

102

6

New Zealand

39

3755

96

7

Sri Lanka

35

3123

89

8

West Indies

33

2504

76

9

Bangladesh

22

1026

47

10

Zimbabwe

10

53

5

Top five teams in ICC ODI Rankings

Rank

Team

Matches

Points

Rating

1

Australia

52

6570

126

2

New Zealand

57

6474

114

3

India

61

6871

113

4

South Africa

62

6921

112

5

Sri Lanka

67

6956

104

Top five teams in ICC T20I Rankings

Rank

Team

Matches

Points

Rating

1

India

30

3766

126

2

West Indies

25

3114

125

3

New Zealand

29

3484

120

4

England

28

3228

115

5

South Africa

34

3908

115

Top five teams in ICC Women’s Rankings

Rank

Team

Matches

Points

Rating

1

Australia Women

59

7524

128

2

England Women

50

6161

123

3

New Zealand Women

56

6424

115

4

India Women

45

4827

107

5

West Indies Women

60

6263

104

On the other hand, India's Virat Kohli maintained his number one position in the ICC T20 batsmen rankings after the conclusion of the World T20. Kohli, who was adjudged player of the tournament, leads Australia’s second-ranked Aaron Finch by 86 points.

AON HEWITT RELEASED LIST OF INDIA’S BEST EMPLOYER 2016

The global human resource firm Aon Hewitt on 31 March 2016 released its list of India's Best Employer 2016.

A total of 113 organisations representing 12 key industries, cumulatively employing approximately 950000 employees, participated in the 2016 Aon Best Employers India study.

In the list released by Aon, Reliance Capital Asset Management is the only asset management company to be named as one of the best employers in India in the Aon list for 2016.

The companies included in the Aon list for India’s Best Employers 2016 are:

AAPC India Hotel Management (Accor Hotels)

Bajaj Allianz General Insurance Co. Bajaj Finance

Becton Dickinson India

Bharti Infratel

Blue Dart Express

DHL Express India

Godrej Consumer Products

Hewlett Packard Enterprise Global Soft

InterGlobe Aviation(IndiGo)

Lupin

Metro Cash and Carry India

Reliance Capital Asset Management (subsidiary of Reliance Capital)

Saint-Gobain India - Gyproc Business

Starwood Hotels & Resorts India

Tata AIA Life Insurance Company

Tata Autocomp Systems

Tata Chemicals

Tata Communications

The Oberoi Group

Whirlpool of India

WNS Global Service

The AGS Health, the SKS Microfinance and the Yash Technologieswere named in the Emerging Best Employers of India for the years 2016.

About Aon Hewitt

Aon Hewitt (formerly known as Hewitt Associates) is a provider of human capital and management consulting services headquartered in the United States in Lincolnshire, Illinois.

The firm provides consulting, outsourcing, and reinsurance brokerage services.

The company was founded in 1940 and ceased to exist as an independent entity at the completion of its purchase by Aon in October 2010.

Hewitt's operations were merged at that time with some elements of Aon's consulting arm to become a new subsidiary of the Aon Group called Aon Hewitt.

BHUBANESWAR SMART CITY LIMITED, INDIA’S FIRST SPV ON SMART CITY, STARTED OPERATIONS

India’s first special purpose vehicle (SPV) on smart city - Bhubaneswar Smart City Limited - commenced operations.

The SPV was set up as per the Smart City Mission Guidelines to enable faster execution of projects by delegating to them powers of various concerned departments and agencies.

Incidentally, Bhubaneswar also topped the 1st batch of 20 smart cities list that was released by the Union Ministry of Urban Development on 28 January 2016.

About Bhubaneswar Smart City Limited

• It consists of a 16-member Board of Directors with representatives of various departments and agencies of the Odisha Government, one representative of Government of India and 5 Independent Directors of which at least one will be woman.

• It will have an authorised capital of 500 crore rupees, divided in to 5 crore shares of 100 rupees each.

• Of this, the Government of Odisha and Bhubaneswar Municipal Corporation will have a share of 112.50 crore rupees each while Bhubaneswar Development Authority will contribute share capital of 250 crore rupees.

• It was registered under the provisions of the Companies Act, 2013.

• Project management will be undertaken through engagement of Project Management Consultancy.

• The chief executive officer (CEO) is authorized to finalize the terms and conditions and manner of recruitment and also engage agency for providing various services.

• R Balakrishnan and R Vineel Krishna are the Managing Director and the CEO of the Bhubaneswar Smart City Limited respectively.

INDIAN AIR FORCE TO PARTICIPATE IN RED FLAG EXERCISE

Indian Air Force (IAF) will participate in Red Flag air exercise along with US, NATO and allied forces that are scheduled to be conducted from 28 April to 13 May 2016 in Alaska.

The exercise will see participation of 12 IAF aircraft including the Russian origin Su30 MKI, deep penetration Jaguars, two C17 transport plans and two mid air refuellers IL 78. Before reaching Alaska, the AIF aircrafts will travel through Bahrain, Egypt, France, Portugal and Canada.

It will also see over 150 IAF personnel in action, who will undergo some training before being sent to Alaska. According to an estimate, it will cost India over 100 crore rupees.

This is the second time that India is participating in such an exercise after 2008. Due to high cost of participation, IAF decided to take part in the exercise once in every five year. Earlier, the participation in the exercise was scheduled in 2013 but the plan was cancelled by the US following budget cuts.

Red Flag Air Exercises

The Red Flag exercises, held periodically at the Nellis Air Force Base since 1975, is advanced aerial combat training exercise. Red Flag – Alaska is a successor to the previous COPE THUNDER exercise series in the Western Pacific and Alaska.

Since 1975, air crews from the United States Air Force (USAF), United States Navy (USN), United States Marine Corps (USMC), United States Army (USA) and numerous NATO or other allied nations' air forces take part in one of several Red Flag exercises held during the year, each of which is two weeks in duration.

The exercise provides an opportunity to practice and refine their skills for real combat situations to the pilots from the US, NATO and other allied. This includes the use of enemy hardware and live ammunition for bombing exercises within the Nellis complex.

INDIAN MANISH SHARMA APPOINTED TO PANASONIC’S GLOBAL EXECUTIVE COUNCIL

Japanese electronics giant Panasonic appointed senior executive Manish Sharma of India to its global executive council. It inducted an Indian onto the coveted decision-making body of the 80-billion dollar company for the first time ever.

The global executive council of Panasonic is a key decision-making body that manages the firm’s business plans across the globe.

Sharma is the first Indian and fourth non-Japanese member of the 50-member Council headed by a global president.

Apart from him, the other international representatives in the executive council include three Americans and one European.

The decision to include non-Japanese members in the council is in sync with company’s plan of enhanced representation of officials from key markets as it goes about localization of products and technologies.

Earlier, Panasonic also appointed Daizo Ito, former president of Indian operations, as managing executive officer, Panasonic Corporation.

GOAIR ELEVATED WOLFGANG PROCK-SCHAUER AS MANAGING DIRECTOR

Go Airlines (India) Ltd. elevated its present chief executive officer (CEO) Wolfgang Prock-Schauer as the managing director.

After this elevation, he will now become a member of the company's board. He will also hold twin charge of both CEO & managing director.

Prock-Schauer, who joined the company in June 2015, will hold the managing director’s post along with the promoter of GoAir Jeh Wadia.

Prior to GoAir, Prock-Schauer headed different airlines in different countries, including Jet Airways (2003-2009), British Midland Airways and Air Berlin.

He was also chairman, management board at the Star Alliance, the world's largest airline group, in 2002 and 2003.

About Go Airlines (India) Ltd

• Go Airlines (India) Ltd. is the aviation foray of the Wadia Group and it operates its services under the brand GoAir.

• In November 2005, GoAir launched its operations as a low-fare carrier with the objective of commoditizing air travel and offering airline seats at a marginal premium to train fares across India.

• The airline currently operates over 140 daily flights and approximately 975 weekly flights across 22 destinations.

INDIA'S FIRST AADHAAR ENABLED ATM LAUNCHED BY DCB BANK

DCB Bank launched an Aadhaar-based Automatic Teller Machine (ATM) usage facility wherein a customer can transact using his biometric details instead of the PIN. The step is first of its kind in India.

The ATM will accept Aadhaar number and Aadhaar fingerprint (biometric) instead of ATM/Debit Card and PIN to dispense cash from the bank account. It is a Cardless and PIN less ATM.  The user can key-in the 12-digit Aadhaar number or swipe the card at an ATM to start a transaction, but at the stage of confirming the identity, it requires biometric details rather than the PIN.

This ATM is currently placed in pilot site at DCB Bank at Peninsula Business Park, Lower Parel, Mumbai.

About DCB Bank

DCB Bank Ltd. is a private sector scheduled commercial bank in India.

It has a network of over 176 branches and over 400 ATMs in the country.

It offers products to individuals, small and medium businesses, rural banking and mid corporates across its branch network.

The Aga Khan Fund for Economic Development (AKFED) is the promoter of the Bank with around 16.3% stake.

The Bank received the Scheduled Commercial Bank licence from the Reserve Bank of India on 31 May 1995.

INDIA’S FASTEST TRAIN GATIMAAN EXPRESS FLAGGED OFF

Rail Minister Suresh Prabhu flagged off India's fastest train, the Gatimaan Express from Delhi's Hazrat Nizamuddin station.

The train completed its maiden journey from Delhi to Agra in 100 minutes as compared to about 2-3 hours that other trains take to cover the distance.

The Gatimaan Express, which is indigenously built, will run six days a week, except Friday, in both directions. The train runs at a speed of 160 km per hour, covering the 184 kilometre distance between Delhi and Agra in 105-110 minutes.

In October 2014, the India Railways applied for safety certificate from Commission of Railway Safety to start the service. In June 2015, the train was announced officially and numbered 12049/50.

Besides, the Gatimaan Express provides free Wi-fi to its passengers. Also, the train will have stewards and hostesses on the lines of flight attendants.

Powered by a 5400 HP electric locomotive, the non-stop train has two Executive AC Chair cars and eight AC chair car coaches. The fare for the fully air conditioned Gatimaan Express has been fixed at 750 rupees, while the fare for the Executive class is 1500 rupees.

NIT SRINAGAR STILL TENSED

  • Tensions between Kashmiri and outstation students kept the National Institute of Technology in Srinagar on the boil as outstation students — protesting the “celebrations” by some local students of India’s T-20 cricket loss to West Indies.
  • A day after they were lathi-charged by the police while protesting with placards, the outstation students demanded action against those NIT officials who, they said, had indulged in “anti-national” activities.
  • They insisted that they be allowed to hoist the national tricolour every day before the main gate of the institute.
  • Incidentally, during the Jawaharlal Nehru University crisis, Ms. Mufti had sent emissaries to Delhi to ask the Centre to ensure the safety of Kashmiri students.
  • The flare-up is now emerging as a test for the new government of the PDP and the BJP, allies who are together despite having little in common in their approach to the Kashmir issue.
  • The roots of the crisis go back to alleged celebrations by Kashmiri students of India’s T20 loss, leading to a confrontation on April 1 with outstation students, who waved the tricolour.

UNION HOME MINISTRY WANTS INTERNET COMPANIES TO SET UP SERVERS IN INDIA

  • The Union Home Ministry had requested Internet companies like Facebook, Twitter, WhatsApp and Google to maintain servers in India to help get real time information about accounts, which spread mischievous and incendiary messages.
  • Almost two months after Home Minister Rajnath Singh waded into the Jawaharlal Nehru University row with terror link claims based on a fake Twitter handle of Hafiz, Twitter is yet to respond to the government’s request for details of the handle.
  • In February, the Home Ministry asked Twitter India for details of the account.
  • This was one of many cases, in which the government faced problems in getting real time information about such accounts. Twitter has put up a Transparency Report on removal requests athttps://transparency. twitter.com/.

BOMBAY HIGH COURT ASKS PEOPLE ARE MORE IMPORTANT OR IPL MATCHES?

  • Rapping the BCCI and the cricket associations in Mumbai and other parts of Maharashtra over water wastage when the State is reeling under severe drought, the Bombay High Court on Wednesday said the Indian Premier League (IPL) matches should ideally be shifted elsewhere, where there is no water crisis.
  • The court asked the State to spell out on April 7 the steps it plans to take.
  • “How can you [the cricket associations and the BCCI] waste water like this? People are more important or your IPL matches? You know what the condition is in Maharashtra,” a Division Bench said.
  • The court sought responses from the Maharashtra Cricket Association Stadium, the Vidarbha Cricket Association, the Maharashtra government and the Mumbai, Nagpur civic bodies.

ONE RANK ONE PENSION SCHEME GETS EX-POST FACTO APPROVAL

  • The One Rank One Pension scheme, brought in last November to benefit more than 2.5 million ex- servicemen and war widows, on Wednesday received ex-post facto approval from the Cabinet.
  • Under the scheme, pension would be revised on the basis of the pension of retirees of calendar year 2013 and the benefit will be effective from July 1, 2014. In future, the pension would be revised every five years.
  • The Financial implications on account of grant of OROP , including pre-matured retiree cases, would be Rs. 10,925.11 crore for payment of arrears and annual financial implication would be Rs. 7,488.7 crore.

PANAMA GOVT SAYS IT IS UNFAIR TO SINGLE OUT PANAMA

  • Panama mounted a fierce defence of its crucial financial services sector, trying to head off a feared international clampdown on its offshore business in the wake of the “Panama Papers” leak.
  • Diplomats accredited to the small Central American nation were called to the foreign ministry to hear officials argue that it was unfair to single out Panama in the scandal.
  • The government has also written a harshly worded letter to the head of the OECD,, attacking a statement he made describing Panama as “the last major holdout that continues to allow funds to be hidden offshore from tax and law enforcement authorities”.
  • Earlier, law firm Mossack Fonseca, at the centre of the scandal after its papers were obtained from an anonymous source by various media organisations, said it had lodged a criminal complaint against the leaks.

INDIA TOOK THE ISSUE OF J-E-M CHIEF WITH CHINA

  • India has conveyed its disappointment to China after its move to add Maulana Masood Azhar, head of Pakistan-based militant group Jaish-e-Mohammed, to an international blacklist of terrorists faced Chinese opposition at the UN.
  • “We have taken up the issue with the Chinese at a fairly high level and we will continue to pursue this with them. We will have to wait and see where this goes,” Mr. Jaishankar said.
  • India accuses J-e-M of masterminding the January attack on the Pathankot air base, and had requested that Azhar be added to the U.N. Security Council blacklist of groups linked to al-Qaeda or Islamic State, but China objected it.
  • Mr. Jaishankar, however, added that the issue will remain limited between India and China at the UN and will not “overflow into other areas”.
  • Chinese Ambassador Le Yucheng said that Beijing had not dismissed India’s move to bring a ban on Azhar. “We felt that the information provided by India to the UN was inadequate, that is why we placed a ‘technical hold’—a temporary measure,” Mr. Le said.

US PRESIDENTIAL NOMINATION STILL FAR FROM SETTLED

  • Democrat Bernie Sanders and Republican Ted Cruz won the presidential primaries in Wisconsin, toppling national front runners Hillary Clinton and Donald Trump.
  • Both winners are still a long way away from winning the nominations, but the Wisconsin outcomes could mean that the nomination contests in neither party will be settled before conventions in July.
  • “We have won seven out of the last eight contests”, said Mr. Sanders. “We have a path toward victory, a path to the White House”.
  • Mr. Sanders is expanding his base with targeted ads appealing to the black and other minority populations that have been Ms. Clinton’s voter bases.
  • But all this is may not be sufficient to win the nomination. After Wisconsin, Ms. Clinton has 1,743 and Mr. Sanders 1,027 delegates.
  • The overwhelming delegate lead that she maintains is due to a special category called super-delegates — who are not elected through primaries but are party functionaries who are eligible to vote in the national convention.
  • Of the total 712 super delegates, 469 have pledged support to Ms. Clinton.
  • On the Republican side, Mr. Trump faced the most decisive setback in his presidential campaign as the entire party establishment coalesces behind Mr. Cruz, who was also considered an outcast not so long ago.
  • Mr. Cruz now has 517 delegates against the 1,237 required to win the nomination and Mr. Trump has 743. Mr. Trump has to win 55 per cent of the delegates in the remaining contests; Mr. Cruz will have to win 88 per cent, in order to win the nomination.
  • Those agitated over Mr. Trump’s campaign vitriol might now need to catch up on Mr. Cruz’s positions — over the last fortnight, he has called for measures like special police vigilance in Muslim neighbourhoods, reiterated his blanket opposition to abortions; and has promised to build a wall along the border with Mexico.

COMETS AND ASTEROIDS MIGHT HAVE HELPED MARS TO BE MORE CONDUCIVE TO LIFE

  • Large comets and asteroids that bombarded Mars some 4 billion years ago likely enhanced climate conditions enough to make the red planet more conducive to life, at least for a time, a new study has found.
  • If early Mars was as barren and cold as it is today, massive asteroid impacts would have produced heat to melt subsurface ice, said Stephen Mojzsis, a professor at University of Colorado Boulder in the U.S.
  • Scientists have long known there was once running water on Mars, as evidenced by ancient river valleys, deltas and parts of lake beds.
  • In addition to producing hydrothermal regions in portions of Mars’ fractured and melted crust, a massive impact could have temporarily increased the planet’s atmospheric pressure, periodically heating Mars up enough to “re-start” a dormant water cycle.
  • Much of the action on Mars occurred during a period known as the Late Heavy Bombardment about 3.9 billion years ago when the developing solar system was a shooting gallery of comets, asteroids, moons and planets.

GOVERNMENTS TAX COLLECTION EXCEEDS BUDGET AND REVISED ESTIMATES

  • The government collected Rs.14.6 lakh crore in taxes in financial year 2015-16, which is higher than the Budget Estimates and Revised Estimates for the year.
  • The government data shows that the bulk of the growth in total tax revenues was due to the increase in indirect tax collections.
  • Indirect tax revenue in FY 2015-16 stood at Rs.7.11 lakh crore, which is higher than the BE and RE by Rs.65,618 crore and Rs.9,885 crore, respectively.
  • Indirect tax collections were 31.1 per cent higher than in the previous financial year.
  • Direct tax collections grew 7.6 per cent in the fiscal year 2015-16 to Rs 7.48 lakh crore, marginally lower than the RE of Rs 7.52 lakh crore.
  • The aggregate Budget Estimates (BE) for total direct and indirect tax revenues for the fiscal year 2015-16 was Rs 14.45 lakh crore, which was revised to Rs 14.55 lakh crore. The actual collection (provisional) is Rs 14.60 lakh crore.
  • The direct tax collection, however, is lower than the RE of Rs 7.52 lakh crore.

GOVERNMENT LOOKING FOR VARIOUS MEASURES TO INCREASE EXPORTS

  • The government is considering several measures, such as offering incentives for small exporters and a package to revive Special Economic Zones (SEZs), to help reverse the trend of a prolonged contraction in merchant exports since December 2014.
  • Labour-intensive export sectors and organic food producers will get concessions and a package is on the anvil for SEZs so that they can utilize large tracts of unused land available with them.
  • Also being considered are steps such as categorising the entire export credit given by all lenders separately under priority sector lending without riders, ensuring better coordination with Indian missions overseas, as well as relaxing norms for the Exim Ban and ECGC to give them greater operational flexibility.
  • Setting up of three dedicated zones for manufacture of Active Pharmaceutical Ingredients (API or drug raw materials) and other pharmaceutical items, incentives for the bio-tech industry especially for skill development, sops for manufacture and export of electronic items.
  • These proposals will be taken up soon with other Ministries and regulatory authorities, Commerce & Industry Minister Nirmala Sitharaman said after the Board of Trade (BOT) meeting.
  • The 72-meber Board is a government-industry panel looking into measures to boost exports. The recently reconstituted Board chaired by Sitharaman held its first meeting on Wednesday.
  • Indian exports have declined from $314 billion in FY’14 to $310 billion in FY’15. Exports in FY’16 are expected to shrink further to nearly $260 billion.
  • Trade bodies demanded better infrastructure to shore up exports and called for tax benefits to be extended to small and medium units.
    Besides, greater participation of the States is also required to boost exports.

 

 

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Last Updated on Sunday, 10 April 2016 06:22
 

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