Current Affairs of 6 May 2016

1. Vice Admiral Sunil Lanba appointed as Chief of the Naval Staff
1. Vice Admiral Sunil Lanba (58) has been appointed as next Chief of the Naval Staff. He will be 23rd chief of Indian Navy and 21st as an Indian. He will assume the charge on 31 May 2016 and shall have full three-year-term in office till 31 May 2019. 
2. He will succeed incumbent Navy Chief Admiral Robin K. Dhowan, who will superannuate from the post on 31 May 2016.

2. Kumar Rajesh Chandra appointed as Chief of Bureau of Civil Aviation Security
1. Senior IPS officer Kumar Rajesh Chandra was appointed as Chief of Bureau of Civil Aviation Security (BCAS), the aviation security wing of the Government. His appointment was cleared by the Appointments Committee of the Cabinet (ACC) presided by Prime Minister Narendra Modi. 
2. He has been appointed in place of IPS officer G S Malhi, who had completed his tenure as BCAS chief in November 2012. Since then crucial post was lying vacant. Kumar Rajesh Chandra is IPS officer of a 1985 batch of Bihar cadre. Prior to this appointment, Chandra was working as Additional Director General (Modernisation) of Bihar Police.

3. Lok Sabha passes Insolvency and Bankruptcy Code, 2015
The Lok Sabha has unanimously passed Insolvency and Bankruptcy Code, 2015 by a voice vote. The code seeks to ensure time-bound settlement of insolvency, faster turnaround of businesses and create a unified data base of serial defaulters.
2. The Code creates time-bound processes for resolution of the insolvency of companies and individuals. These processes will be completed within time-bound 180 days. If insolvency is resolved in stipulated time, the assets of the borrowers may be sold to repay creditors. The resolution of the insolvency of processes will be conducted by licensed insolvency professionals (IPs). These IPs will be members of insolvency professional agencies (IPAs).

4. Bangladesh Government gives nod to Reliance Power’s LNG-based plant
1. Bangladesh Government has given its in-principle approval to Anil Ambani-led Reliance Power’s first phase of the 3,000 MW LNG-based power plant at Meghnaghat in Narayanganj district. This approval has paved the way for the largest Foreign Direct Investment (FDI) in Bangladesh with a potential investment of over 8,700 crore rupees (1.3 billion dollars).
2. In the first phase, a 750 MW LNG-based power plant will be set up along with the FSRU (floating storage and regassification unit) terminal at Maheshkhali Island in Cox’s Bazar district of Bangladesh. FSRU-based LNG terminal will supply re-gasified LNG for the power project and additional RLNG to PetroBangla.

5. NASSCOM, Facebook ink MoU to engage with India’s entrepreneurs
1. The trade body of Indian IT firms NASSCOM (National Association of Software and Services Companies) has signed a MoU with Social network giant Facebook to build a product design initiative for Indian entrepreneurs. The NASSCOM-Facebook initiative seeks to catalyse the innovation ecosystem and to help design thinking in India.
2. It will be country-wide initiative and shall offer focused programmes to build awareness in product design and mentorship. Under it, Nasscom Product Council through its flagship programme will support over 500 product start-ups on product design.

6. Indian author Parashar Kulkarni wins 2016 Commonwealth Short Story Regional Prize
1. Indian author Parashar Kulkarni has won the regional Commonwealth Short Story Prize for 2016 for the Asia region. He was bestowed with this award for his politically grounded, funny fiction story ‘Cow and Company’ about four men in search of a cow. The short story was adjudged the ‘best piece of unpublished short fiction in English’ from Asia and will receive 2500 pounds prize. 
2. Now Parashar Kulkarni will compete with winners from other four regions- Africa, Cananda and Europe, Carribbean and the Pacific – for the 5000 pounds grand prize to be announced at the Calabash International Literary Festival in Jamaica in June 2016.

7. Offshore patrol vessel ICGS Shaurya launched
1. Goa-based defence shipyard, Goa Shipyard Limited (GSL), on 5 May 2016 launched Indian Coast Guard Ship (ICGS) Shaurya at Vasco. The is the fifth ship of a series of six off-shore patrol vessels (OPVs) that the Indian Coast Guard had tasked the Vasco defence public sector undertaking to build.
2. This 105-metre new generation OPV that was launched by the Governor of Goa, Mridula Sinha will be delivered to the Coast Guard after sea trials are completed. The ICGS Shaurya will be commissioned into service in early 2017.

8. H R Nagendra Committee on Yoga Education in Universities submitted its recommendations
1. The Union Government on 5 May 2016 announced that the H.R. Nagendra Committee on Yoga Education in Universities has recommended seven programmes for implementation in universities.
2. The Union Government on 15 January 2016 had constituted a committee on yoga education in universities. The committee was headed by Professor H.R. Nagendra, Chancellor, Swami Vivekananda Yoga Anusandhana, Samsthana, Bengaluru.The committee had submitted its report on 19 April 2016.

9. Andhra Pradesh Harita-Priya Agriculture Project wins 2016 WSIS Prize
1. Andhra Pradesh Agriculture Project has won the prestigious World Summit on the Information Society (WSIS) 2016 prize in the e-Agriculture category. Harita-Priya (Harmonized Information of Agriculture, Revenue and Irrigation for a Transformation Agenda – Precision Technology for Agriculture) Project is meant to collect very specific climate data from farms and give farmers personalised information through SMS.
2. The Harita-Priya Project uses wireless sensor networks to collect micro-climatic information from farms. The data is used to create advisories and alerts on irrigation schedules and pests and plant diseases. Based on this state agriculture officers disseminate personalised crop advisories in Telugu language to farmers by way of SMS.

10. Union Cabinet approves India-UAE currency swap agreement
1. The Union Cabinet has given its ex-post facto approval for the Memorandum of Understanding (MoU) between Reserve Bank of India (RBI) and Central Bank of United Arab Emirates (UAE) on co-operation concerning currency swap agreement. Decision in this regard was taken at the Union Cabinet Meeting chaired by Prime Minister Narendra Modi in New Delhi. 
2. The Agreement was signed in February, 2016 during the official state visit of Crown Prince of Abu Dhabi Sheikh Mohammed Bin Zayed Al Nahyan to India.