Daily Current Affairs- 11th August 2016

Dear Readers, we are providing Today's important current affairs of Competitive Exams specially for Bank and SSC

1. Lok Sabha passes Employee’s Compensation (Amendment) Bill 2016

1. The Lok Sabha  passed the Employee’s Compensation (Amendment) Bill, 2016 to reduce litigation in cases of disputes arising over compensation to workers. 
2. The Bill seeks to amend the Employee’s Compensation Act, 1923. This law provides payment of compensation to employees and their dependents in the case of injury by industrial accidents, including occupational diseases.
3. Provisions of the Bill
• It makes it mandatory for employer to inform the employee of his right to compensation under the parent Act. Such information must be given in writing in Hindi, English or relevant official language at the time of employment.
• It penalises an employer if he fails to inform his employee of his right to compensation. Such penalty may be between fifty thousand to one lakh rupees.
• Any dispute related to an employee’s compensation will be heard by a Commissioner, only if the amount in dispute is ten thousand rupees. It allows Union Government to further raise this amount. 

2. Kazakhstan's Nijat Rahimov wins men's 77kg weightlifting gold at Rio Olympics

1. Kazakhstan’s Nijat Rahimov broke the world record to win the gold medal of the men's 77kg weightlifting class at the Rio Olympic Games.
2. Lu Xiaojun of China took the silver and Mohamed Ihab of Egypt claimed the bronze.
3. Rahimov had to lift 214kg to win, 4kg more than Lu’s clean and jerk world record, which he set at the 2013 World Weightlifting Championships.

3. China launches Gaofen-3 Satellite to get accurate images of earth

1. China launched Gaofen-3 Satellite, China's first Synthetic Aperture Radar (SAR) imaging satellite. The satellite was launched from the Taiyuan Satellite Launch Centre in northern Shanxi province on Wednesday.
2. Gaofen-3 is a high-resolution satellite for the protection of its maritime rights as the South China Sea dispute continues to simmer.
3. Highlights of the Gaofen-3 Satellite
• It is also China's first low orbit remote sensing satellite that has a lifespan of eight years. 
• It will be used for disaster warning, weather forecasting, water resource assessments, and the protection of maritime rights.
• With 12 imaging modes, the high-definition observation satellite is capable of taking wide pictures of the Earth and photographing detailed scenarios of specific areas.
• It is able to provide high-definition remote sensing data for its users over a long period of time.

4. M S Subbulakshmi to be honoured by A R Rahman at UN on Independence Day

1. Renowned carnatic vocalist M. S. Subbulakshmi will be honoured at the United Nations on 15 August 2016, India’s 70th Independence Day, by a performance by A.R. Rahman at the United Nations General Assembly.
2. With this, Rahman will become the second Indian artist after Subbulakshmi to perform at the UN. She was invited by the then UN Secretary General U Thant to perform at the UN headquarters in 1966.

5. Unit I of Kudankulam Nuclear Power Project dedicated to nation

1. Prime Minister Narendra Modi and Russian President Vladimir Putin dedicated the first unit of the ambitious Kudankulam Nuclear Power Project (KKNPP) in Tamil Nadu to the nation. 
2. KKNPP was dedicated by the leaders through video conferencing from Delhi and Moscow. It has India’s single largest nuclear generation unit with capacity of 1000 megawatt (MW)
3. The KKNPP is located in Tirunelveli district in Tamil Nadu, around 650 km from Chennai. It is built under India-Russian Nuclear agreement of 1988. KKNPP is India’s nuclear power plant to use imported PWR technology. 
4. It has VVER (Water-Water Energetic Reactor) type light water reactors. The reactors are built by the NPCIL (Nuclear Power Corporation of India) and Russia’s Atomstroyexport Company, a subsidiary of Rosatom.

6. Union Cabinet approves Maternity Benefit (Amendment) Bill, 2016

1. The Union Cabinet has given its ex-post facto approval for introducing the Maternity Benefit (Amendment) Bill, 2016 in Parliament The Bill seeks to amend the Maternity Benefit Act, 1961. The law protects the employment of women during the time of her maternity and entitles her of a ‘maternity benefit’. 
2. The ‘maternity benefit’ includes full paid leave from work to take care for her child. This law is applicable to all establishments employing 10 or more persons. Proposed amendments Increase Maternity Benefit to 26 weeks from 12 weeks for two surviving children and 12 weeks for more than two children. Mandatory 12 weeks Maternity Benefit to ‘Adopting mother’ and ‘Commissioning mother’.

7. Union Government constitutes Amitabh Kant committee to review e-commerce rules

1. The Union Government has decided to set up a committee to look at easing the policy regime for e-commerce players, including the rules for foreign direct investment (FDI). The committee will be headed by Amitabh Kant, CEO of NITI (National Institution for Transforming India) Aayog. 
2. The other members in the panel will include officials from Union Commerce Ministry and Industry and Department of electronics and IT among others. Representatives from four states including Maharashtra and Karnataka will also be the members of the committee.

8. Azim Premji, Shiv Nadar in Forbes list of 100 richest tech tycoons
1. Wipro Chairman Azim Premji and HCL co-founder Shiv Nadar are the only two billionaires from India in Forbes’ list of the world’s 100 richest people in technology, ranking in the top 20 ahead of Google boss Eric Schmidt and Uber CEO Travis Kalanick.
2. The ‘100 Richest Tech Billionaires In The World 2016’ list has been topped by Microsoft founder Bill Gates with an estimated fortune of $78 billion.
3. Premji ranks 13th on the list with a networth of $16 billion and Nadar comes in on the 17th spot with $11.6 billion of net worth. The other Indian-American technology czars in the list are Symphony Technology Group CEO Romesh Wadhwani and founders of IT consulting and outsourcing company Syntel Bharat Desai and his wife Neerja Sethi.