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> Current Affairs Booster of May 2016
Daily Current Affairs- 14 June 2016
1. Ranu Langthasa appointed as first woman chairperson of NCHAC in Assam
1. Ranu Langthasa was unanimously appointed as the chairperson of the North Cachar Hills Autonomous Council (NCHAC) in Assam .
2. With this, she also became the first women chairperson to be appointed to the post since the formation of Autonomous Council in 1950s.
2. Microsoft signs agreement to acquire LinkedIn for $26.2 billion
1. Microsoft Corporation and LinkedIn Corporation announced that they have entered into a definitive agreement.
2. As per the agreement, Microsoft will acquire LinkedIn for 196 dollar per share in an all-cash transaction valued at 26.2 billion dollar, inclusive of LinkedIn’s net cash. However, LinkedIn will retain its distinct brand, culture and independence.
3. World Blood Donors Day 2016 observed with theme Blood connects us all
1. World Blood Donors Day (WBDD) 2016 was observed on 14 June 2016.
2. The theme of the 2016 World Blood Donor Day campaign is Blood connects us all. The theme highlights the common bond that all people share in their blood.
3. The slogan for 2016 WBDD is Share life, give blood. The slogan focuses on voluntary donation systems. The voluntary donation systems play a pivotal role in encouraging people to care for one another and promoting community cohesion.
4. Lewis Hamilton wins 2016 Canada Grand Prix of Formula 1
1. Mercedes racing driver Lewis Hamilton of Britain won the Formula 1 Canada Grand Prix title.To win the title, he overcame Ferrari driver Sebastian Vettel in the final race held in Montreal, Canada.
2. For Hamilton, the present win in Montreal was the fifth in his career and the second in a row. His previous titles were secured in 2007, 2010, 2012 and 2015.In the 2016 season, it was the second title for him as he already secured the Monaco Grand Prix on 29 May 2016.
5. India, Ghana sign three agreements to strengthen co-operation in varied fields
1. India and Ghana signed three bilateral agreements to strengthen co-operation in varied fields. The agreements were signed during the first ever visit of President Pranab Mukherjee to Ghana, a nation on West Africa’s Gulf of Guinea.
2. Highlights of the agreements
• The three agreements signed with Ghana included one for visa waivers for holders of diplomatic and official passports and one for setting up a Joint Commission.
• The commission will periodically review various aspects of the multi-dimensional relationship between the two countries. A mutually convenient date for its first meeting will be decided later.
• The third agreement was for collaboration in diplomatic training between the Indian Foreign Service Institute and a Ghanaian institute of the same standing.
6. RBI introduces Scheme for Sustainable Structuring of Stressed Assets
1. The Reserve Bank of India (RBI) has issued guidelines called Scheme for Sustainable Structuring of Stressed Assets (S4A). The main aim of these guidelines is to (i) Strengthen the lenders’ ability to deal with stressed assets and (ii) Put real assets back on track of entities facing genuine difficulties by providing an avenue for reworking financial structure.
2. The RBI has formulated the S4A as an optional framework for the resolution of large stressed accounts. The S4A envisages determination of sustainable debt level of a stressed borrower and bifurcate outstanding debt into sustainable debt and equity/quasi-equity instruments. The sustainable debt and equity/quasi-equity instruments are expected to provide upside to the lenders when the borrower turns around. The resolution plan will be prepared by credible professional agencies in order to make sure that entire exercise is carried out in a prudent and transparent manner.
7. Justice Rakesh Ranjan Prasad takes charge of Chief Justice of Manipur HC
1. The senior-most Judge of the Manipur High Court Justice Rakesh Ranjan Prasad has assumed charge of the Chief Justice of the High Court. He succeeded Justice Laxmi Kanta Mohapatra who has relinquished the charge of office.
2. Earlier in February 2016, President Pranab Mukherjee had transferred Justice Rakesh Ranjan Prasad from Jharkhand High Court to Manipur High Court in exercise of his powers conferred to him by Article 222 of the Constitution of India. About
8. Tata Power to acquire Welspun Renewables
1. Private power producer Tata Power Co. Ltd has agreed to acquire renewable energy company Welspun Renewables Energy Pvt. Ltd.
2. In this regard, Tata Power’s renewable energy unit Tata Power Renewable Energy Ltd (TPREL) has signed share purchase agreement to acquire Welspun Renewables Energy. The transaction deal is sized at 9,249 crore rupees which is considered as largest transaction in renewables space in India. This acquisition will help Tata Power to grow its clean energy portfolio to 2.3 gigawatts (GW)