Current Affairs 12th April 2016 - Banking, SSC, UPSC Affairs

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Actress Aishwarya Rai Bachchan has won the 'Global Indian of the Year' award.Aishwarya was honoured at Non-Resident Indian (NRI) of the Year award function held in Mumbai in west Indian Maharashtra state on April 11,2016.Besides Aishwarya, noted tennis player Sania Mirza was also honoured at the NRI of the Year Award 2016. Altogether 17 individuals were given the awards under different categories like – entrepreneur, professional, academics, arts & culture, philanthropy, special jury award, global icon of the year and India’s global icon award. The NRI of the Year Award recognises outstanding achievements of the Indian diaspora globally. 

Tata Steel, the country’s largest steel producer, has signed an agreement to sell the loss-making 4.5-million tonne (mt) long-product Scunthorpe steel plant in Britain to UK-based investment firm Greybull Capital for a nominal consideration, with the latter taking assets and relevant liabilities.The crenelated steelmaker appointed KPMG LLC as process advisor for the “thorough, but expedited sale” of its entire shareholding in its subsidiary Tata Steel UK, which includes Britain’s largest steel plant at Port Talbot.The agreement with Greybull, an investor in distressed companies, will save thousands of jobs. The Long Products Europe business employs 4,800 people, 4,400 in the U.K. and 400 in France.The steel industry in the U.K. and Europe has been on a downturn owing to the global oversupply of steel, high production costs and cheap imports. The sale includes the Scunthorpe works, two mills in Teesside, an engineering workshop in Workington, a design consultancy in York, a mill in Hayange, France, and sales and distribution facilities.

India's men's and women's teams have won both the category’s championship titles at the third Asian Kho-Kho championship organised in Indore. In both the finals, the hosts scored victory against Bangladesh teams. The women’s side won 26-16 while the men won 26-17.In the men’s final, India scored an 11-point victory (27-16) over their Bangladeshi counterparts.In the women’s final, India won the title by 10 points (26-16) against Bangladesh.Malti scored three points while Diksha and Aishwarya scored two points each from the winning team. Nepal clinched the third position. Sarika Kale won the match winner award.The Lok Sabha speaker Sumitra Mahajan and Union Environment Minister Prakash Javadekar along with Asian Kho Kho Association secretary Qazi Rau-uddin Ahmed Choupal, Indian Olympic Association secretary Rajiv Mehta have felicitated winners at the event. Sarika Kale won the women’s match-winner title, while counterpart Aniket Pote won the men’s prize. Each player was awarded with Rs. 51,000. The three-day championship was organised at a newly-constructed state-of-the-art indoor kho-kho stadium in Indore.

Shan-e-Punjab Express, which was flagged-off by the Railway Minister Suresh Prabhu , has become the first Indian train fitted with CCTV surveillance cameras.CCTV surveillance cameras in the Shaan-e-Punjab Express is one more step towards improving security in Indian trains. The CCTV system on the Shaan-e-Punjab Express includes 4 to 6 cameras per coach strategically located so that the entire area can be covered.  The system will facilitate facial recognition of the target person by giving high resolution images. It would enable facial recognition even in low light conditions especially in the aisles at night. The storage capacity is for one month. The recorder has safety storage/emergency recording function. In case of HDD failure, the data will store on additional storage device with in-built diagnostics to log internal function or hardware failure.

A Noida based handset manufacturer Lava International has announced the Indian's limited over captain Mahendra Singh Dhoni as it's new brand ambassador. This step has been taken to strengthen its brand in India.The contract value was not disclosed by company. The company has set up its first manufacturing plant in Noida (UP) and plans to invest Rs.2,615 crore to raise its annual production capacity to 216 million phone sets. The present plant of the company in Noida is aligning itself with the Government of India’s ‘Make in India’ initiative.According to VP of the Lava International Mr. Solomon Wheeler, to bringing him on board strengthens our resolve to offer trusted and reliable products and services to all our consumers at all times. Lava International was established in the year 2003 as Pacetelation Communications. In 2009, the company was renamed Lava International. The company had launched the world's first Intel chip-based smartphone and achieved the revenues of $1.2 billion in fiscal 2014-15. Recently, Lava was declared as the most trusted smartphone brand in product quality and after sales service amongst all Indian mobile handset brands by Silicon India. The brand also bagged the “Best Customer experience team of the year award” in consumer goods category in 9th Loyalty and Customer Experience Awards conducted by Kamikaze B2B media.The company also has overseas operations in Thailand, Nepal, Bangladesh, Sri Lanka, Pakistan, Indonesia, Mexico, the Middle East and Russia. The company  is the number 1 smartphone brand in Thailand. Lava is the only company in the emerging ecosystem outside of China to have an end to end control on product design, development, testing and manufacturing.

American tennis star Serena Williams kept her lead in the women's rankings with 8.625 points, while Polish Agnieszka Radwanska returned to the second place, according to the list released on April 11,2016.The Polish player is ahead of German Angelique Kerber, who dropped to the third place with 5.740 points.In the women's doubles, India's Sania Mirza and her Swiss partner Martina Hingis retained their top status in the rankings with 11,825 points.The current rankings and point scores are as follows:1. Serena Williams (America) 8,625 points,2. Agnieszka Radwanska (Poland) 5,775,3. Angelique Kerber (Germany) 5,740,4. Garbine Muguruza (Spain) 4,831,5. Victoria Azarenka (Belarus) 4,530,6. Simona Halep (Romania) 3,785,7. Petra Kvitova (Czech Republic) 3,763,8. Roberta Vinci (Italy) 3,595,9. Maria Sharapova (Russia) 3,432,10. Belinda Bencic (Switzerland) 3,340.

Former Chief of Army Staff (COAS) General (retd) Joginder Jaswant Singh on 12 April 2016 was conferred the highest French civilian honour,Officier de l Ordre national de la Legion d Honneur (Officer of the Legion of Honour).It is the highest civilian award given by the French Republic for outstanding service to France, regardless of the nationality of the recipients. Singh was conferred the honour by French Ambassador to India Francois Richier.He was chosen for the honour in recognition of his stellar role in modernising the Indian Army. His initiations led to robust exchanges between the Indian and French armies, which in turn created enduring ties and promotion of mutual understanding between the two countries.Legion of Honour is the highest French order for military and civil merits.It was established in 1802 by Napoleon Bonaparte.The order is divided into five degrees of increasing distinction: Chevalier (Knight), Officier (Officer), Commandeur (Commander), Grand Officier (Grand Officer) and Grand'Croix (Grand Cross).The order's motto is Honneur et Patrie (Honour and Fatherland) and its seat is the Palais de la Légion d'Honneur next to the Musée d'Orsay, on the left bank of the River Seine in Paris.

Scientists from Nanyang Technological University (NTU) at its Earth Observatory of Singapore (EOS) have discovered a way to forecast earthquakes based on tremors or earthquakes below a Richter scale of 2.The study, led by Indian-origin researcher Deepa Mele Veedu, was published in scientific journal Nature on 4 April 2016.So far, scientists believed that larger earthquakes are unlikely to occur following tremors or earthquakes below a Richter scale of 2 that are caused by small vibrations or slow fault movements.However, the NTU team found that not only do these vibrations potentially point to an impending earthquake, but they also discovered a discernible pattern to them.The team’s latest findings could potentially be applied in the seismic monitoring of the area to help better forecast large earthquakes in the region.The discovery defied the understanding of how faults accumulate and release stress over time. These vibration patterns are caused by alternating slow and fast ruptures occurring on the same patch of a fault.If only slow movements are detected, it does not mean that a large earthquake cannot happen there. On the contrary, the same area of the fault can rupture in a catastrophic earthquake.Seismic hazards in the Southeast Asia region will probably come from an impending large earthquake in the Mentawai seismic gap in Sumatra, Indonesia – a current area of active monitoring and investigation.

The World Wildlife Fund (WWF) and the Global Tiger Forum (GTF) on 10 April 2016 announced that after a century of constant decline, global wild tiger populations have increased.According to the most recent data, around 3890 tigers now exist in the wild, which is up by 22 percent from an estimated 3200 in 2010.This rise in the number of tigers can be attributed to increase in tiger population in tiger survey countries, namely India, Russia, Nepal, and Bhutan and enhanced protection of the specie through use of latest technology.Further, the support of government of different countries, law enforcement agencies, and local communities to WWF in its advocacy of zero tolerance for tiger poaching across Asia also led to increase in tiger population.Tiger population by 2022 : Governments of countries with tiger populations came together in 2010 in Russia to pledge the goal of doubling wild tiger numbers by 2022.Although the target of doubling their population is not achieved but to make sure that the goal is achieved at time, these countries have planned to meet again in April 2016 to report on their progress and commit to next steps to help tigers to rebound.The 3rd Asia Ministerial Conference on Tiger Conservation takes off on 12 April 2016 in New Delhi. The conference will see participation of more than 700 tiger experts, scientists, managers, donors and other stakeholders from all Tiger Range Countries. During the conference they will discuss issues related to tiger conservation and anti poaching strategies during three-day event.Tiger population in different countries : India: 2226, Russia: 433,Indonesia: 371, Malaysia: 250,Nepal: 198,Thailand: 189,Bangladesh: 106,Bhutan: 103. Besides, tiger population is also found in countries like Myanmar, China and Laos PDR.Tiger population is welcome news for conservationists and wildlife lovers but the question arises on how to manage the pace of their growth.The question is pertinent because in recent past we have seen death of at least 27 tigers in India itself of which 9 alone were recorded in Madhya Pradesh. On the other hand, 11 instances were recorded in which tiger bone and skin was seized from poachers.In first 10 days of April 2016, at least three tiger deaths were recorded across Chandrapur (Maharashtra), Ranthambore (Rajasthan) and Bandhavgarh (Madhya Pradesh).

India will take part in a special OECD ( Organisation for Economic Co-operation and Development ) meet on April 13 in Paris to firm up cooperation between countries in the wake of the 'Panama Papers' leak that has seen the government here order a multi-agency probe after 500 Indians were named in it as holding offshore assets in the tax haven. To know about the leak report which has mentioned that 500 Indians are holding offshore assets in the tax haven, GOI  has been decided that a Director- rank officer of Central Board Of Direct Taxes (CBDT) will represent the country at the day- long special session.The government had also set up a Multi-Agency Group to investigate the Indian names and entities holding offshore assets in the tax haven as reported in the leaks . The officials said that a preliminary report has been sought by this week from the Finance Ministry, which is expected to be forwarded to the Prime Minister's Office. Finance Ministry officials stated that they are looking forward to the meet as the country adheres to a number of OECD mandated norms aimed at strengthening overseas tax cooperation and exchange of information. They also said that India also follows fiscal guidelines endorsed by the OECD. Announcing the date for the meeting, the OECD secretariat said that Government officials from around the world have called upon OECD to convene a special meeting of the Joint International Tax Shelter Information and Collaboration (JITSIC) network to explore possibilities of cooperation and information-sharing, identify tax compliance risks and agree on collaborative action in the light of the Panama Papers.Apart form that the Income Tax department will also issue the notices to those whose names figure in the Panama leaks. They will be asked to explain their position and the next course of action will be determined thereafter.

Union Government has appointed senior IPS officer Ms. Meeran C. Borwankar as the Director General (DG) in the Bureau of Police Research & Development (BPR&D). Her name for this post was cleared by the Appointments Committee of the Cabinet (ACC) chaired by Prime Minster Narendra Modi. She will have tenure of till the date of her superannuation i.e. till 30th September 2017. Ms. Borwankar is an Indian Police Service (IPS) officer of the 1981 batch of Maharashtra cadre.The Bureau of Police Research and Development (BPR&D) was set up on 28 August 1970 in furtherance of the objective of the Union Government for the modernisation of police forces. It has evolved as a multifaceted, consultancy organisation. At present it has 4 divisions – Research, Development, Training and Correctional Administration.

President Pranab Mukherjee has presented the Padma awards to the remaining 56 eminent personalities from various fields in a civil investiture ceremony at Rashtrapati Bhawan, New Delhi.The President presented five Padma Vibhushan, eight Padma Bhushan and 43 Padma Shri awards at the function.The name of the recipients, who were honored with Padma Vibhushan- Superstar Rajnikant, classical singer Dr Girija Devi, journalist Ramoji Rao. Singer Udit Narayan, and tennis player Sania Mirza have been honoured with the Padma Bhushan. Actor Priyanka Chopra, writer Dhirendra Nath Bezbaruah, among others have been honoured with the Padmashree.Earlier in March, 56 eminent personalities were honoured with the Padma awards at Rashtrapati Bhavan.The government had announced Padma awards, one of the highest civilian awards in the country, for 112 eminent persons on the eve of Republic Day.The Padma Awards were instituted in the year 1954. These awards have been announced every year on Republic Day. The award is given in three categories, namely, Padma Vibhushan, Padma Bhushan and Padma Shri.Padma Shri is awarded for ‘distinguished service’.Padma Bhushan for ‘distinguished service of a high order’.Padma Vibhushan for ‘exceptional and distinguished service'.The award seeks to recognize work of any distinction and is given for distinguished and exceptional achievements or service in all fields of activities, such as Art, Literature and Education, Sports, Medicine, Social Work, Science and Engineering, Public Affairs, Civil Service, Trade and Industry etc. All persons without distinction of race, occupation, position or sex are eligible for these awards. Toltal list of awards :  Padma Vibhushan : Founder of Reliance Industries late Dhirubhai Hirachand Ambani (posthumous),Former Governor of Jammu and Kashmir Jagmohan,Art of Living founder Sri Sri Ravi Shankar,Indian-American economist Avinash Kamalakar Dixit,Renowned dancer Yamini Krishnamurti.Padma Bhushan : Actor Anupam Pushkarnath Kher,Badminton star Saina Nehwal,Former CAG Vinod Rai,Industrialist Pallonji Shapoorji Mistry,Architect Hafeez Sorab Contractor,Educationist and Journalist Dr Barjinder Singh Hamdard,Scientist Alla Venkata Rama Rao,Gastroenterologist Duvvur Nageshwar Reddy.Padma Shri : The 43 awardees who will receive the honour today include:Actor Ajay Devgn,Filmmaker Madhur R Bhandarkar,Scientist Dr Mylswamy Annadurai,Archer Deepika Kumari,Celebrated chef Mohammed Imtiaz Qureshi,Classical musician Pandit Tulsidas Borkar​,Social worker Ajoy Kumar Dutta​,Folk tale artist Bhikhudan Govindbhai Gadhvi ,Dr Alla Gopala Krishna Gokhale,Film director Naresh Chander Lal,Ashok Malik,Mahesh Chand Mehta,Social worker Dr Sundar Aditya Menon ,Haldar Nag,Social worker PP Gopinathan Nair,Dr TV Narayana,Professor Predrag K Nikic,​Subhash Palekar,Filmmaker Nila Madhab Panda,Advertising professional Piyush Pandey,​Journalist Pushpesh Pant,Businessman Dilip Sanghvi,Folk dancer Gulabi Sapera,Dahyabhai Shastri,Onkar Nath Srivastava,Late Shri Prakash Chand Surana (Posthumous),Prahlad Chandra Tasa,Chandrasekar  Shesadri  Thoguluva,Professro (Dr) Ganapati Dadasaheb  Yadav,Dr Nayudamma Yarlagadda.

A Kathak dancer from Varanasi has broken the world record of longest dance performance by continuously dancing for 123 hours and 30 minutes.Soni Chaurasiya, 31, daughter of a pan vendor, broke the record on Saturday at 9.21 pm at Mount Litera Zee School, Varanasi. With her performance, she broke the previous record of Hemlata Kundalu of Trichur, Kerala, who performed Mohiniattam (a classical dance) continuously for 123 hours and 20 mins.Soni began her performance on April 4 at 6 pm on a school campus in Varanasi. While no official from the Guinness World Records attended the performance, two cameras had been installed to record Soni’s each move.  Her trainer Rajesh Dogra allowed Soni to take hourly breaks lasting five minutes.  The dancer, however, decided to take a 20-minute break every four hours.

The three day 3rd Asia Ministerial Conference on the Tiger Conservation is going to inaugurate by Prime Minister Narendra Modi in New Delhi on 12th April, 2016 which will continue till 14th of April, 2016.In this conference, more than 700 tiger experts, scientists, managers, donors and other stakeholders are gathering to discuss issues related to tiger conservation. Apart from this, Ministers and government officials from all Tiger Range Countries, namely Bangladesh, Bhutan, Cambodia, China, Indonesia, India, Lao PDR, Malaysia, Myanmar, Nepal, Russian Federation, Thailand, Vietnam, besides Kyrgyz Republic and Kazakhstan, having ranges of Snow Leopard are participating in the conference. Tiger population has decimated to non-viable level in some range countries, which is a cause for concern. While several Tiger Range Countries like India, Nepal, Russia and Bhutan have registered an increase in tiger population, the status of Tiger remains “endangered”. Currently, more than 70 per cent of the global wild tiger population is in India because of concerted efforts of the government and other stakeholders. Recently GOI has also allotted 380 crore rupees to the Project Tiger in the current fiscal year, which is the all time highest investment in this type of project. This conference is being co-organized by Ministry of Environment, Forest and Climate Change, National Tiger Conservation Authority, Global Tiger Forum, Global Tiger Initiative Council, Wildlife Institute of India, WWF and Wildlife Conservation Trust.

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 Lashkar-e-Taiba chief Hafiz Saeed (@HafeezSaeedJUD), 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.Twitter removed 39 accounts on requests from the government and the police in India from July 1 to December 31, 2015.Twitter is yet to respond to the government’s request for details of the fake handle of Lashkar-e-Taiba chief Hafiz Saeed (@HafeezSaeedJUD).Install server register as an Indian company and hire more people.

Sanmar Chemicals, India's private sector petrochemical firm, will receive Rs.1,996 crore equity investment from Fairfax India Holdings, reported Reuters. A 30 percent minority stake in the company will be offered through a combination of equity and fixed income instruments to Fairfax.Fairfax India Holdings said ,it has agreed to acquire a minority stake in privately held Indian petrochemical company Sanmar Chemicals via a roughly $300 million investment. The Sanmar investment is the latest in a string of bets Fairfax India and its sister concern Fairfax Financial Holdings Ltd have made in the country within the last year. The two entities are chaired by Canadian billionaire Prem Watsa.Headquartered in Chennai, Sanmar Group is a family-owned enterprise headed by N.Sundar. The $1 billion conglomerate has business concerns in engineering technologies and shipping, apart from chemicals.Sanmar Chemicals is one of India's largest producers of polyvinyl chloride (PVC), with manufacturing establishments in India and Egypt. Expansion at its Egypt plant will see the company double its PVC production to 400,000 tonnes a year. Once completed, it has potential to exceed production capacity to over 700,000 tonnes a year, making it one of the largest PVC makers globally, said the news agency.

Union Home Minister Rajnath Singh has recommended Rs. 1,304 crore as a drought relief to Uttar Pradesh under the National Disaster Relief Fund (NDRF), after a meeting of the committee set up to review drought situation was held on April 9,2016. The U.P. government will forward a memorandum for Rabi 2016 soon and the Ministry will examine the possibility, if an exemption can be given under SDRF on 25 per cent limit and continuation of distribution of food component beyond 90 days.Contingency plan : The U.P. government, during the meeting, informed that a comprehensive contingency plan to address the drinking water situation in Bundelkhand region especially Mahoba, Chitrakoot and Banda districts of Chitrakoot division are ready and would be soon implemented, said sources. Centre approved a provision of extending man-days from 100 to 150 under Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) in the Bundelkhand for financial year 2016-17. It was decided that to provide alternate source of income, National Rural Livelihood Mission would be strengthened and intensified and coverage would be extended to all the blocks.Water tanks : The government decided that water tanks, building of dug wells, farm ponds would be taken up on priority under various projects and schemes for Bundelkhand. CEO, NITI Aayog, in consultation with State government will explore the possibility of taking up fresh projects for drought proofing from the resources available under the package for Bundelkhand region.It was also agreed that minimum support price (MSP) for sesame for 2016-17, be announced promptly. A bonus of Rs. 20 for Bundelkhand region over and above the MSP shall also be considered.The State government was asked to ensure maximum coverage of farmers in the recently- launched Pradhan Mantri Fasal Bima Yojana (PMFBY) and it was agreed that the State government would hold district-wise camps to ensure that both loanee and non-loanee farmers are covered in a campaign mode.

The two-day G7 Foreign Ministers' Meeting held from 10 April to 11 April 2016 ended in Hiroshima. Global security, the refugee crisis and political instability were focal points of the meet.The meeting ended with adoption of Hiroshima Declaration, a joint communique, and two other statements on nonproliferation and maritime security.The adoption of four statements reflected global concerns including terrorism; maritime security in the South China Sea, North Korea’s escalating provocations, and the G-7 members’ commitment to work toward a world without nuclear weapons.The Hiroshima Declaration reflects Japan’s foreign ministers Fumio Kishida’s so-called five principles or five pillars which he outlined during the NPT Review Conference in April 2015 in the United Nations (UN). These five pillars are among others includes:i. Transparency of nuclear force,ii. Deeper reduction of all types of nuclear weapons,iii. Common recognition of the humanitarian consequences of nuclear weapons,iv. Visit to Hiroshima and Nagasaki by political leaders and youths. The declaration emphasizes the importance of the NPT, called for a ban on nuclear test explosions, and demands that all states sign and ratify the Comprehensive Nuclear-Test Ban Treaty without delay and conditions.The declaration strongly supported the full implementation of the provisions of the NPT across all three of its "pillars" (non-proliferation, disarmament, and the peaceful uses of nuclear energy). It also reaffirmed the central role of the IAEA and its safeguards system.Joint Communiqué : It highlighted the deteriorating security environment in a number of regions, such as Syria and Ukraine, and, in particular by North Korea's repeated provocations.It condemned “in the strongest terms” the North’s fourth nuclear test on 6 January 2016, followed by the launch of a long-range satellite which many claimed was a cover for a long-range missile. It also condemned recent terrorist attacks in Turkey, Belgium and other regions and said a concrete G7 action plan on countering terrorism would be adopted at the G7 Ise-Shima Summit in May 2016.G7 Foreign Ministers' Meeting : The G7 Foreign Ministers' Meeting is one of the related ministerial meetings held in advance of the G7 Summit. It is an important meeting for foreign ministers to hold discussions on international affairs of the time, which later becomes the base for discussions by the G7 Summit.The 2016 G7 Foreign Ministers' Summit held from 10 to 11 April 2016 in Hiroshima was the first of ten related ministerial meetings held leading up to the G-7 summit scheduled for May 26 and 27 in the Ise-Shima region in Mie Prefecture.The member countries of the G-7 group are Japan, the United States, the United Kingdom, France, Germany, Italy and Canada, along with the President of the European Council and the President of the European Commission.

Every year 12th April is being observed as the International Day of Human Space Flight to commemorate the date of the first human space flight in the history of mankind. On this day in 1961, Yuri Gagarin, a Soviet Union (USSR) cosmonaut undertook first successful first human space flight. This historic event opened the way for space exploration for the benefit of all humanity. In Russia and some other former USSR countries, this historic day is celebrated as Cosmonautics Day. 2016 is the 55th anniversary of First Human Space Flight.The United Nations (UN) had declared 12 April as the International Day of Human Space Flight after UN General Assembly had passed its resolution A/RES/65/271 of 7 April 2011. The day seeks to celebrate each year at the international level the beginning of the space era for mankind. It also seeks to reaffirm the important contribution of space science and technology in achieving sustainable development goals for increasing the well-being of peoples and states, as well as ensuring the realisation of their aspiration to maintain outer space for peaceful purposes.

Indus Towers, the country's largest telecom tower firm, on 11 April 2016 appointed Hemant Kumar Ruia as its Chief Financial Officer (CFO).Before joining Indus Towers, Ruia worked as CFO at the Reliance Retail Ltd. At Reliance, he played the role of business partner across various brands with Reliance Retail - Reliance Fresh, Digital, Jewellery, Trends, Footwear and Reliance Markets.Ruia started his career with Larsen & Toubro and has since worked with ICI India Ltd and Reckitt Benkiser India. He also served as the CFO of Agro Tech Food Ltd, a subsidiary of ConAgra Foods Inc, for over seven years.Indus Towers is an independently managed company offering passive infrastructure services to all telecom operators and other wireless services providers.It was incorporated in November 2007.The company has 118687 towers in 15 circles across the country. It has the widest coverage in India and has already achieved 265606 tenancies, a first in the telecom tower industry globally.

India's largest carrier Bharti Airtel received its payment bank license that is had applied for in partnership with Kotak Mahindra Bank, a move that will help the companies take Indian government's financial inclusion plans to the next level.Airtel M Commerce Services Limited (AMSL), a subsidiary of Bharti Airtel Limited has been granted payments bank license from Reserve Bank of India on April 11, 2016," the Sunil Mittal-promoted company told Bombay Stock Exchange .The new payments bank will help the fourth largest private sector bank by assets to break new grounds among the unbanked and expand its reach in the huge rural market. Kotak's banking expertise will help Airtel deliver financial services to millions of unbanked citizens across the country. Airtel has over 245 million customers in India and a revenue market share of 31.4%. Bharti Airtel and Kotak Mahindra had applied for the license through its wholly-owned subsidiary AMSL, which launched Airtel Money back in 2011 and was the first mobile based pre-paid payment instrument service in the country. Kotak had picked up 19.9% stake in Airtel M Commerce, for Rs 98.4 crore in February.AMSL offers mobile money services under the brand name Airtel Money, and the company had proposed to convert the existing pre-paid payment instrument license into a Payments Bank license as per the guidelines prescribed by the Reserve bank of India, in January this year. The Reserve Bank of India gave in-principle approval to 10 small finance banks and 11 payments banks, which are due to launch operations later this year or early next year. Payments banks are allowed to offer basic savings, deposit, payment and remittance services to people without access to the formal banking system. 

India and Maldives on 11 April 2016 singed six agreements to boost the bilateral relations between the two countries.The agreements were inked in New Delhi during the two-day official visit of Maldivian President Abdulla Yameen Abdul Gayoom to India.The signed Agreements/MoUs are : Agreement for Avoidance of Double Taxation of income - The Agreement seeks to avoid double taxation of income derived from international air transport.Agreement for the Exchange of Information with respect to Taxes – It envisages mutual assistance for exchange of information that is relevant to the administration and enforcement of the domestic laws concerning taxes covered by the Agreement. It also includes exchange of information relevant to the determination, assessment and collection of such taxes, the recovery and enforcement of tax claims, or the investigation and prosecution of tax matters.Bilateral Agreement related to Orbit Frequency Coordination of "South Asia Satellite” proposed at 48oE – It will be used for the purpose of performing intersystem orbit-frequency coordination for the operation of ‘South Asia Satellite’. It will also be used for fulfilling ITU level regulatory requirements and obtaining international level protection/recognition for the ‘South Asia Satellite’.MoU for Cooperation in the area of conservation and restoration of ancient mosques and joint research and exploratory surveys in Maldives - It proposes for development of detailed proposals for such projects by Archaeological Survey of India and Department of Heritage, Maldives.MoU on cooperation in the field of Tourism - It envisages cooperation in areas of tourism including expansion of bilateral cooperation and exchange of information and data related to tourism. It seeks to encourage cooperation between tourism stakeholders including Hotels and Tour Operators and establishing exchange programmes for cooperation in Human Resource Development. It seeks investment in the Tourism and Hospitality sectors and exchange visits of Tour Operators/Media/Opinion Makers for promotion of two way tourism. It looks forward for exchange of experience in the areas of promotion, marketing, destination development and management. It also looks for participation in travel fairs/exhibitions in each other’s country and promoting safe, honourable and sustainable tourism.Action Plan for Defence Cooperation – It is an important component of the India-Maldives bilateral relationship and the shared strategic and security interests of the two countries in the Indian Ocean region. It envisages an institutional mechanism at the level of the Defence Secretaries to further bilateral defence cooperation.

The Group of 7 (G-7) countries’ foreign ministers have issued Hiroshima Declaration that calls for a world without nuclear weapons. The foreign ministers G-7 countries’ signed this joint declaration after meeting in Japan’s Hiroshima. G7 countries include Canada, France, Germany, Italy, Japan, UK and US. The declaration came as ministers wrap up their final day of meetings focused on global hotspot issues including terrorism and other security threats as well as instability in the Middle East and the refugee crisis. Key facts Hiroshima Declaration reaffirms commitment of G-7 countries’ to seek a safer world for all and create the conditions for a world without nuclear weapons to promote international stability. It calls for creating the conditions without nuclear weapons in a way that promotes international stability.It has citied North Korea’s repeated provocations as a key challenge to achieve the goal of safer world for all. It also mentioned that the task is more complex due deteriorating security environment in a number of regions such as Syria and Ukraine. Earlier, all the foreign delegates of G-7 countries’ including US Secretary of State John Kerry made a landmark visit to the Hiroshima Peace Memorial Park. The Park commemorates atomic bombing of the city by US on August 6, 1945. G-7 Countries: It is a group of seven major advanced economies as reported by the International Monetary Fund (IMF). Collectively they represent more than 64% of the net global wealth; very high Human Development Index and it also represent 46% of the global GDP.

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  • Various Important Lists & Indexes,
  • Visits by World Presidents, Prime Ministers,
  • Political affairs and all Current News.

12th April 2016 Current Affairs Quiz

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Enrich your GK with FreshersLive 12th April 2016 Current Affairs News

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