Current Affairs of 28 April 2016

1. China successfully launched Kunpeng-1B Sounding Rocket
1. China successfully launched the Kunpeng-1B sounding rocket from a launch pad in Danzhou City in the southern Chinese Hainan Province. The rocket reached a maximum height of 316 kilometres (196 miles), with the total flight time coming to 10 minutes.
2. The head of the rocket was equipped with a new altitude control system. New materials of flexible carbon fibre were also used in the rocket to enable easier flight.
3. This is the first time Kunpeng 1B’s arrow configuration of altitude control system and carbon fibre stretching rod has been used on a sounding rocket in China. It makes the detector more flexible and lightweight.

2. Jayasurya recalled as Sri Lanka's cricket chief selector
1. Sri Lanka Cricket (SLC) announced appointment of Sanath Jayasuriya as chief selector of the Sri Lankan Cricket team.
2. Jayasuriya is back as the chief selector for the team, after a year when he stepped down from the role. Earlier, he served as the chief selector from January 2013 to March 2015.
Jayasuriya-led committee will succeed the Aravinda de Silva led committee.
3. The new four member selection panel will take office on 1 May 2016 and will serve for two years and will comprise of former wicketkeeper-batsman Romesh Kaluwitharana, former fast bowler Eric Upashantha and former off spinner Ranjith Madurasinghe.

3. ISRO’s seventh navigational satellite IRNSS 1G launched
1. Indian Space Research Organization (ISRO) launched India’s seventh navigation satellite of the Indian Regional Navigation Satellite System (IRNSS 1G) into a Sub-Geosynchronous Transfer Orbit (Sub-GTO) on-board PSLV-C33.
2. The satellite was launched from the First Launch Pad (FLP) of the Satish Dhawan Space Centre, Sriharikota, which is situated 90 kms from Chennai.
3. With this launch, India successfully joined the elite group of countries that have their own navigation system technology to cater to the mammoth navigational needs.

4. Union Cabinet approved Investment enhancement by BPCL in Bharat Oman Refineries Limited
1. The Union Cabinet approved to enhance investment by Bharat Petroleum Corporation Limited (BPCL) in Bharat Oman Refineries Limited (BORL).
2. Now, the investment amount can be enhanced upto a maximum of 3000 crore rupees by way of subscription of convertible warrants giving right to convert it into equity shares to be issued by BORL. 
3. The infusion of funds by the BPCLs will enable BORL to overcome the implications on account of the erosion of the net worth. 

5. parent GirnarSoft acquires SaaS startup Connecto
1. GirnarSoft, the parent company of auto classifieds portal CarDekho,com, has snapped up SaaS startup Connecto, in a cash-and-stock deal, the Jaipur-headquartered company announced.
2. This is the latest acquisition by the Google Capital and Hillhouse Capital-backed company, which has been on a buying spree over the last 12-18 months, announcing a slew of acquisitions and investments over the same period. 

6. RBI proposes rules for peer-to-peer lending; seeks to regulate sector with measures 
1. The Reserve Bank of India for the first time proposed rules for peer-to-peer lending, seeking to regulate a growing sector with potential measures including requiring minimum capital of 20 million rupees ($301,023.48) or prohibiting them from promising "extraordinary returns." 
2. The RBI also proposed that only those defined as companies engage in peer-to-peer lending and said it may categorise firms in the growing sector as non-banking financial companies. 
3. Peer-to-peer lending has been growing globally, including in India, where only a limited segment of the population has access to bank finance. 

7. Renowned Kerala cartoonist V T Thomas passes away
1. Renowned Kerala cartoonist V T Thomas passed away following a brief illness at in Kottayam, Kerala. He was 86. He was popularly known as Toms and had created the legendary cartoon characters Boban and Molly (Bobanum Moliyum).

8. Deepika Kumari equals world record in recurve event at Archery World Cup
1. India’s Deepika Kumari has equalled the world record in Women’s Recurve event at the qualifying stage of Archery World Cup held in Shanghai, China. 
2. Deepika recorded a score of 686 out of 720 to finish 1st in qualifiers and equal the world. With this she equalled the record set by South Korea’s Ki Boe Bae at the World University Games in Gwangju in 2015.

9. Union Cabinet approved MoU between India and Papua New Guinea on cooperation in health and medical science
1. The Union Cabinet chaired by the Prime Minister Narendra Modi approved for signing a Memorandum of Understanding (MoU) between India and Papua New Guinea on cooperation in the fields of Healthcare and Medical Science.
2. The bilateral MoU will encourage cooperation between the Ministry of Health & Family Welfare of India and the Ministry of Health and HIV/AIDS of the Papua New Guinea through joint initiatives in the health sector. It will strengthen bilateral ties between India and Papua New Guinea.

10. Union Cabinet gives nod to MoU between IRDAI and Insurance Authority of UAE
1. The Union Cabinet has given its ex-post facto approval for the Memorandum of Understanding (MoU) between Insurance Regulatory and Development Authority of India (IRDAI) and the Insurance Authority of United Arab Emirates. 
2. Decision in this regard was taken by the Union Cabinet meeting chaired by the Prime Minister Narendra Modi in New Delhi. The MoU was signed in February, 2016.