Daily Current Affairs for All Exams- 22nd September 2016

Dear Readers, we are presenting Daily Current Affairs for All Exams- 22th September 2016.

 Daily Current Affairs
Daily Current Affairs for All Exams- 22nd September 2016

1. Junaid Ahmad appointed as World Bank Country Director for India
1. Junaid Ahmad was appointed as the World Bank Country Director for India. He will succeed Onno Ruhl who completed his four-year term recently.
2. Ahmad joined the World Bank in 1991 as a young professional.
3. Hailing from Bangladesh, Ahmad was previously the Chief of Staff to World Bank Group President Jim Yong Kim. 

2. Adi Godrej conferred Clinton Global Citizen Award

1. Adi Godrej, the Chairman of Mumbai-based Godrej Group, was conferred the 10th Annual Clinton Global Citizen Award for leadership in business and philanthropy.
2. The award recognises Godrej's leadership in transforming the intersection of business and philanthropy and making the Godrej Group a global example of what can be achieved through inclusive, sustainable business strategies.
3. The award was presented by Hikmet Ersek, CEO and President of Western Union, in the presence of former US President Bill Clinton.
4. Some of the other awardees for the year 2016 include Jon Bon Jovi for the Jon Bon Jovi Soul Foundation in the US, President Juan Manuel Santos of Colombia and Hawa Abdi of Somalia.

3. India, Samoa tax information exchange agreement approved
1. The Union Cabinet on 21 September 2016 gave its approval for signing and ratification of agreement between India and Samoa for the exchange of information with respect to Taxes.
2. This agreement will stimulate the flow of exchange of information between the two nations for tax purposes which will help curb tax evasion and tax avoidance.
3. As of now, there are no financial implications between the two nations. Only in the event of extraordinary costs exceeding 500 US dollars, the same will be borne by India. India has similar provisions in other such tax information exchange agreement.

4. Salient features of the Agreement
• It enables the competent authorities of the two nations to provide assistance through exchange of information that is relevant to the administration and enforcement of the domestic laws of the two countries concerning taxes covered by this Agreement.
• The information received under the Agreement shall be treated as confidential and may be disclosed only to persons or authorities (including courts or administrative bodies) concerned with assessment, collection, enforcement, prosecution or determination of appeals in relation to taxes covered under the Agreement. Information may be disclosed to any other person or entity or authority or jurisdiction with the prior written consent of the information sending country.

4. BPCL lifts title of Obaidullah Khan Heritage Cup Hockey Tournament
1. The Bharat Petroleum Corporation Ltd (BPCL) on 21 September 2016 lifted the title of the Obaidullah Khan Heritage Cup Hockey Tournament. In the final clash at Aishbagh Stadium in Bhopal, BPCL defeated Railways by 3-0.
2. The match was decided by penalty shoot-outs as both the teams scored one goal each till the end of prescribed time.

5. CCEA approves 5176 crore rupees Capital Grant for GAIL pipeline project
1. The Cabinet Committee on Economic Affairs (CCEA) approved the partial capital grant of 5176 crore rupees to GAIL (India) Limited for development of 2539 km long Jagdishpur-Haidia and Bokaro-Dhamra Gas Pipeline (JHBDPL) project.
2. Highlights of the JHBDPL project
• JHBDPL project will connect Eastern part of the country with National Gas Grid.
• It will ensure the availability of clean and eco-friendly fuel i.e. Natural Gas to the industrial, commercial and transport sectors in the States of Uttar Pradesh, Bihar, Jharkhand, Odisha and West Bengal. 

6. ADB approves 631 million US dollars loan for Visakhapatnam-Chennai Industrial Corridor
1. The Asian Development Bank (ADB) on 20 September 2016 approved 631 million US dollars loan for construction of industrial corridor between Visakhapatnam and Chennai, part of India's first coastal industrial corridor running from West Bengal to Tuticorin in Tamil Nadu.
2. The fund will help develop the first key 800-km section of the planned 2500-km East Coast Economic Corridor which is expected to spur development on India's eastern coast and enable seamless trade links with other parts of South and Southeast Asia.
3. Highlights of the Visakhapatnam-Chennai Industrial Corridor Project 
• The total cost of the project is 846 million US dollars and work on it is expected to be over by 2031. 
• The remaining 215 million US dollars will be funded by the Andhra Pradesh government. 
• Loans and grants from ADB comprise a 500 million US dollars two-tranche facility to build key infrastructure and a 125 million US dollars two-tranche loan to help in business promotion. 
• The loan is for a period of 25 years at interest rate of 0.5 percent plus libor. 

7. IOCL, GAIL sign MoU for taking equity stake in Dhamra LNG terminal
1. Indian Oil Corporation Limited (IOCL) and GAIL (India) Limited on signed a Memorandum of Understanding (MoU) with Dhamra LNG Terminal Private Limited (DLTPL) for taking equity in the 5 MMTPA capacity LNG Receiving, Storage and Regasification Terminal.
2. Highlights of the MoU
• As per the MoU, DLTPL shall be an equal Joint Venture of Indian Oil and GAIL on one hand and Adani Group on the other. 
• Indian Oil and GAIL will acquire 39 percent and 11 percent equity respectively in DLTPL, with the balance 50 percent stake being held by Adani group. 

8. Incredible India Tourism Investors Summit-2016 begins in New Delhi
1. The Incredible India Tourism Investors Summit (IITIS) 2016 has begun in New Delhi after it was inaugurated by Union Finance Minster Arun Jaitley. The three day summit has been organized by the Union Ministry of Tourism in association with Tourism Finance Corporation of India (TFCI) and Confederation of Indian Industry (CII).
2. IITIS will provide a common platform for domestic and international investors to meet project owners from across Indian states and the private sector. It will host presentations of investible properties, session on why invest in India, Micro of Small and Micro Enterprises (MSME) in tourism sector. Besides, it will also host panel discussions on core infrastructure for tourism, session on start-ups, digital India, Swadesh Darshan, PRASAD and niche tourism products, B2B meetings.

9. Forbes names Mukesh Ambani as India’s richest for ninth year
1. Industrialist Mukesh Ambani was today named India’s richest person for a ninth year in a row with a sharp increase in networth to USD 22.7 billion, while Sun Pharma’s Dilip Shanghvi was ranked a distant second with a wealth of USD 16.9 billion.
2. The Hinduja Family moved up to the third position (USD 15.2 billion) on the annual Forbes list of India’s 100 Richest People. Wipro’s Azim Premji slipped one place to fourth with a networth of USD 15 billion.
3. Patanjali Ayurved’s Acharya Balkrishna, known as a close associate of yoga guru Ramdev, has made a surprise entry at the 48th position with a networth of USD 2.5 billion on the list compiled by the American business magazine known for its rich lists.
4. Forbes said the combined networth of India’s 100 wealthiest is USD 381 billion (nearly Rs. 25.5 lakh crore), a rise of 10 per cent from USD 345 billion in 2015.
5. Mukesh Ambani’s wealth rose in the past one year from USD 18.9 billion to USD 22.7 billion (over Rs. 1.5 lakh crore) on 21 per cent surge in share price of Reliance Industries, the flagship company of his group, which recently launched 4G mobile services with much fanfare. He was ranked 36th in the global rich list.

10. Centre appoints three members to Monetary Policy Committee
1. Government named Indian Statistical Institute professor Chetan Ghate, Delhi School of Economics director Pami Dua and Ravindra H Dholakia of IIM- Ahmedabad as members on interest-rate setting Monetary Policy Committee. 
2. MPC, which will take over the job of setting interest rate, will have six members, with the government and the Reserve Bank of India (RBI) appointing three persons each.
3. The Appointments Committee of the Cabinet (ACC) cleared the three eminent experts as members on the MPC for a period of four years, a government notice said.
4. RBI nominees will include, governor, a deputy governor and one more person from the central bank.



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