Daily Current Affairs- 18 May 2016

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Daily Current Affairs- 18 May 2016

1. Union Government Constitute NK Singh Committee to review FRBM Act
1. The Union Government has constituted a five member committee to comprehensively review and give recommendations on the Fiscal Responsibility and Budget Management (FRBM) roadmap for the future.
2. The committee will be headed by Former Revenue Secretary and Rajya Sabha MP, NK Singh. Its members are former Finance and Revenue Secretary Sumit Bose, Chief Economic Adviser (CEC) Dr. Arvind Subramanian, Deputy Governor of RBI Urijit Patel and Director of National Institute Public Finance and Policy (NIPFP) Rathin Roy.
3. The committee was constituted as per the announcement made by the Union Finance Minister Arun Jaitley in his 2016-17 Budget speech. It will submit its Report to the Union Government by the 31st October, 2016.

2. HDFC Bank launches SmartUp for start-ups
1. HDFC Bank Ltd. on 16 May 2016 launched SmartUp solution. It is a first-of-its-kind dedicated platform for start-ups to fulfill all their banking needs.
2. The SmartUp is tailored to meet all the requirements of a start-up, offering banking and payment solutions, along with advisory and forex services.
3. It was launched in association with Zone Startups India, a start-up accelerator in Mumbai.
4. Zone Startups India is a collaboration between BSE Institute (a subsidiary of the Bombay Stock Exchange), Ryerson University’s accelerator Digital Media Zone, Ryerson Futures Inc. and Simon Fraser University.

3. India successfully test fires indigenously developed Prithvi-II missile
1. India successfully test fired indigenously developed Prithvi-II missile from the Chandipur, off Odisha coast.
2. As part of a user trial, the surface-to-surface missile was fired from a mobile launcher from launch complex-3 of the Integrated Test Range.
3. The launch activities were carried out by the Strategic Force Command and monitored by the DRDO scientists.
4. It weighs 4600 kilogram and has a strike range of 350 kilometer.

4. Sudha Singh breaks 3000m steeplechase national record

1. Steeplechase athlete Sudha Singh on 14 May 2016 set a national record in women’s 3000m steeplechase event to finish eighth at the IAAF World Diamond League held at Shanghai.
Sudha clocked 9 minutes, 26.55 seconds to finish a eighth in the second leg of the prestigious IAAF Diamond League Meet.

5. Indian-American Syamantak Payra wins Intel Foundation Young Scientist Award
1. Indian-American Syamantak Payra, a 15-year-old from Friendswood, Texas, in May 2016 won Intel Foundation Young Scientist Awards of 50000 US dollar. He was awarded for developing a low-cost electronically aided knee brace that allows an individual with a weakened leg to walk more naturally.
2. He shared the 50000 US dollars award with Kathy Liu of Salt lake City, Utah who was awarded for developing an alternative battery component that could significantly improve battery performance and safety.

6. Brown Bears sighted for the first time in Kargil after 1999 War
1. The J&K Wildlife Department in 2016 spotted a group of eight Himalayan brown bears in Kargil’s Drass Sector. These brown bears were last seen in the zone, which is their natural habitat, before the 1999 Kargil War.
2. The eight beers comprised of three adult females and five grown-up cubs and were seen in Drass area of Ladakh with mountain ranges of 16000 to 21000 feet.

7. Indian artist Anjali Chandrashekar wins award at UN Poster for Peace Contest

1. Indian artist Anjali Chandrashekar on 3 May 2016 won the third prize in UN Poster for Peace contest presented by the UN Office for Disarmament Affairs (ODA) to raise awareness of the need for nuclear disarmament.
2. Her poster titled ‘Cutting Barriers through Peace’ featured a peace dove slicing through a nuclear weapon

8. FC Barcelona wins La Liga Champions Parade 2016
1. Barcelona FC on 15 May 2016 retained the Spanish league title La Liga with 3-0 score against Granada in the final match.
2. Luis Suárez finished as top scorer, being the first player apart from Lionel Messi and Cristiano Ronaldo to do so since the 2008–09 season.
3. The football club finished the tournament with 91 points in total. It is Barcelona FC's fifth straight win and eighth league title in 12 seasons.Football Club Real Madrid finished second with a 2-0 win over Deportivo.

9. UTMB scientists genetically engineered world’s first Zika virus infectious cDNA clone
1. A multidisciplinary research team from the University of Texas Medical Branch (UTMB) announced that it genetically engineered world’s first clone of the Zika virus strain.
2. The development of cDNA clone, as it is called, is expected to speed up many aspects of Zika research, including vaccine and therapeutic development.

Odisha Government launches Green Passage Scheme for orphan students
1. Odisha Government has decided to launch Green Passage scheme for orphan students to ensure that they get free of cost higher education in the state.
2. A proposal of the higher education department in this regard, was approved by Chief Minister Naveen Patnaik. As per the scheme Orphan students pursuing higher education (from Plus-II level) to post-graduation level, will no longer have to bear the education expenses. Students pursuing higher education will be exempted of tuition fees, admission fee and laboratory fees for higher studies.

10. World’s largest Single Rooftop Solar Power Plant inaugurated in Amritsar

1. World’s largest single rooftop solar power plant of 11.5 MegaWatt (MW) capacity was inaugurated at Dera Baba Jaimal Singh in Beas near Amritsar in Punjab. This is the largest Solar Power Plant spread over 82 acres of rooftop in single campus on multiple roofs with installed capacity of 19.5 MW.
2. The plant has been set up with the cost of 139 crore rupees and would generate clean and green energy sufficient to power approximately 8,000 homes. It will also help in abating 4-lakh tonnes of carbon dioxide (CO2) in the next 25 years.

11. IT department launches e-nivaran portal to fast track taxpayers grievances
1. The Income Tax (IT) department has launched electronic grievance redressal system ‘e-nivaran’ to fast track taxpayer grievances and ensure early resolution of their complaints.
2. In this regard, a separate and dedicated window for grievance redressal has been launched in the Income Tax Business Application (ITBA).

12. Mukesh Ambani awarded Othmer Gold Medal for Entrepreneurial Leadership
1. Reliance Industries Limited (RIL) Chairman and Managing Director Mukesh Ambani has been conferred the prestigious Othmer Gold Medal for his entrepreneurial leadership that has resulted in the expansion of India’s petroleum refining industry, creation of the Jamnagar Refinery in Gujarat – the largest grassroots petroleum refinery in the world, and path-breaking initiatives in oil and gas exploration.
2. The Chemical Heritage Foundation (CHF) established the Othmer Gold Medal in 1997 to honour outstanding individuals who have made multifaceted contributions to the world's chemical and scientific heritage through outstanding activity in such areas as innovation, entrepreneurship, research, education, public understanding, legislation, or philanthropy.

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