Current Affairs of 10 December 2015

Daily Current Affairs contains all major news that occurs National and International Level.It will helpful for those students who are preparing for Bank Exams- IBPS/SBI/PO/Clerk exam , SSC Exams and all other competitive exams .

Current Affairs of 8 December 2015

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1. German Chancellor Angela Merkel named 2015 Time’s Person of the Year
1. Time magazine has named German Chancellor Angela Merkel as Person of the Year 2015. She was named for her role in Europe’s crises over migration and Greek debt as she had provided steadfast moral leadership in a world where it is in short supply. 
2. With this, Merkel became only the 4th woman since 1927 to be named winner and the first women to feature in 29 years. The other women three women to win are Wallis Simpson (1936), Queen Elizabeth II (1952) and Corazon Aquino (1986). 
3. Islamic State (IS) leader Abu Bakr al-Baghdadi was named runner-up and US Presidential hopeful Donald Trump was placed

2. 10 December: Human Rights Day
1. Human Rights Day (HRD) is marked annually on 10th December to commemorate the day in 1948 when the United Nations (UN) adopted the Universal Declaration of Human Rights (UDHR). 
2. The theme chosen for the year 2015 HRD is ‘Our Rights. Our Freedoms. Always’. It marks the launch of a 1 year campaign commemorating two international human rights treaties International Covenant on Economic, Social and Cultural Rights (ICESCR) and International Covenant on Civil and Political Rights (ICCPR). Both of the treaties were adopted in 1966.

3. India ranks 4th in black money outflows: GFI Report
1. India has been placed at fourth position in black money outflows among the developing and emerging economies. It was revealed by Global Financial Integrity’s (GFI’s) Illicit Financial Flows from Developing Countries: 2004-2013 Report.
2. Top 10 countries: China (1st), Russia (2nd), Mexico (3rd), India (4th), Malaysia (5th), Brazil (6th), South Africa (75th), Thailand (8th), Indonesia (9th) and Nigeria (10th). 
3. China tops the list with 139 billion dollars average outflow of black money per annum. It was around 258.64 billion dollars in year 2013. China was followed by Russia (104 billion dollars per annum) and Mexico (52.8 billion dollars per annum).

4. Luxembourg became the 10th country to ratify AoA of Asian Infrastructure Investment Bank
1. Luxembourg  became the 10th country to ratify the Articles of Agreement (AoA) that will lay the legal framework for the China-initiated Asian Infrastructure Investment Bank (AIIB).
2. Apart from Luxembourg, Australia, Austria, Brunei Darussalam, China, Mongolia, Nepal, New Zealand, Singapore and United Kingdom ratified the 60-article agreement so far.
3. These 10 countries are among the 57 founder-member countries of the multilateral bank that has its headquarters in the Chinese capital Beijing.
4. Among the 57 founder-member countries, except the Philippines all other 56 countries have signed the AoA and 46 countries are yet to ratify it.

5. India’s Kartik Sawhney and Neha Swain won 2016 Queen's Young Leaders Award
1. Two Indians, Kartik Sawhney and Neha Swain, have won the 2016 Queen's Young Leaders award in the United Kingdom which will be presented by the British monarch in Buckingham Palace in June 2016.
2. Sawhney and Swain have won the prestigious award for their exceptional work in transforming the lives of others and making a lasting difference in their communities.

6. Mahela Jayawardene awarded honorary lifetime membership of MCC
1. Former Sri Lanka captain Mahela Jayawardene on 9 December 2015 was awarded with an honorary life membership of the Marylebone Cricket Club (MCC).
2. MCC awarded the honorary life membership of the club to recognise Jayawardene's stellar career in which he played 149 Test matches and scored 11814 runs at an average of 49.84.
3. Jayawardene became the 14th Sri Lankan to be awarded with MCC Honorary Life Membership. Kumar Sangakkara, Muttiah Muralitharan and Chaminda Vaas were awarded with the same.  
About Marylebone Cricket Club.

7. Virat Kohli co-owns Bengaluru team in Pro Wrestling League
1. Bengaluru Yodhas, the JSW Group owned franchise in the Pro Wrestling League, has announced India's Test captain Virat Kohli as the co-owner of the team.
2. The Pro Wrestling League, whose inaugural edition kicks off today (December 10) in New Delhi's KD Jadhav stadium, pits six city-based franchises against one another in one of the richest freestyle wrestling tournaments in the world.
3. Kohli's Bengaluru Yodhas will face Rohit Sharma's UP Warriors in their opening fixture on, where the world will see the two cricketers as owners and in different dug outs.

8. British Columbia may be the first govt to tap ‘masala bonds’
1. British Columbia may become the first foreign government to invest onshore in India as it plans to tap the ‘masala bond’ route for this purpose
2. ‘Masala bonds’ are basically rupee-denominated bonds issued in offshore capital markets. These bonds are offered and settled in US dollars to raise rupees from international investors for infrastructure development in India.
3. British Columbia, an AAA jurisdiction, was the first government to issue Dim Sum bonds, which are denominated in Chinese renminbi and named after a popular dish.

9. Cabinet nod for Rs.4,000-cr package for ship builders
1. The Union Cabinet cleared a Rs.4,000-crore package to spur India’s ship building industry, combined with a slew of incentives which include the right of first refusal on all government purchases for Indian shipyards, tax incentives and the ‘infrastructure’ status for shipbuilding and ship repair industry that would help them tap easier financing.
2. To counter the cost-disadvantages faced by domestic ship makers, the government would grant a financial assistance of 20 per cent of the contract price or the fair price, whichever is lower, following the delivery of the ship.

10. Cabinet cleared the Real Estate (Regulation and Development) Bill, 2015
1. The Cabinet cleared the Real Estate (Regulation and Development) Bill, 2015 that aims to set up State level real estate regulators and mandate developers to register their projects and regularly disclose milestones to home and commercial property buyers.
2. The Bill provides uniform regulatory environment to ensure speedy adjudication of disputes and orderly growth of the real estate sector. It will boost domestic and foreign investment in the sector and help achieve the objective to provide ‘Housing for All’ by enhanced private participation.
3. The new regulatory structure envisaged under the bill would protect the interest of consumers, promote fair play in real estate transactions and to ensure timely execution of projects.
4. Under the Bill, the promoters of commercial and housing projects would have to disclose their entire project plans upfront, and would not be allowed to alter design or layouts without customers' consent.
Once the Bill is enacted into law, ýthe construction cost of the project would have to be deposited into a separate account for its timely completion. ýIt also proposes a fast track dispute resolution mechanism for the realty sector

11. Cabinet approves amendments to The National Waterways Bill, 2015
1. The Cabinet  approved The National Waterways Bill, 2015, based on amendments recommended by a parliamentary panel that would designate 106 existing inland waterways as national waterways.
2. The Inland Waterways Authority of India would develop the feasible stretches of these waterways for shipping and navigation purposes by raising financial resources.

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