Daily Current Affairs- 28 July 2016

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

1. Lok Sabha passes Benami Transactions (Prohibition) Amendment Bill, 2015

1. Lok Sabha passed the Benami Transactions (Prohibition) Amendment Bill, 2015. The Bill seeks to amend the Benami Transactions Act, 1988.The bill prohibits benami transactions and provides for confiscating benami properties.
2. Amend the definition of benami transactions
• Establish adjudicating authorities and an Appellate Tribunal to deal with benami transactions

2. India, US discover major Natural Gas Reserve in Indian Ocean

1. As per the report published by US Geological Survey , Joint expedition titled Indian National Gas Hydrate Program Expedition 02 by India and the United States (US) have resulted in the discovery of large, highly enriched accumulations of natural gas hydrate (an icy form of the fuel) in Bay of Bengal, Indian Ocean.
2. The international team of scientists was led by the Oil and Natural Gas Corporation Limited of India in cooperation with the US Geological Survey (USGS), the Japanese Drilling Company, and the Japan Agency for Marine-Earth Science and Technology.
3. This is the first discovery of its kind in the Indian Ocean that has the potential to be producible.

3. Union Cabinet clears changes to GST Bill, drops 1% additional tax on inter-state sales

1. The Union Cabinet cleared changes to the Goods and Services Tax (GST) Constitutional Amendment Bill.The changes include dropping 1 percent manufacturing tax and providing guarantee to compensate states for any revenue loss in the first five years of rollout of the proposed indirect tax regime.
2. It decided that any dispute between states and the Centre will be adjudicated by the GST Council, which will have representation from both the Centre and states.The existing bill provides that the centre will give 100 percent compensation to states for first three years, 75 per cent and 50 per cent for the next two years.

4. World Hepatitis Day 2016 observed with theme Elimination

1. World Hepatitis Day 2016 was observed across the world on 28 July 2016 with the theme Elimination.
2. The day acts as a significant global platform for raising awareness about hepatitis and influence real change in disease prevention, testing and treatment.
3. The theme for the 2016 focuses on elimination of hepatitis as a public health threat by 2030. The theme can be easily adapted for local use to achieve elimination, greater awareness, increased diagnosis and key interventions including universal vaccination, blood and injection safety etc.

5. India signs $1 billion deal with US for procuring four Poseidon-8I aircraft

1. India signed a one-billion dollar deal with the US defence and aerospace major Boeing for procuring four long-range maritime surveillance and anti-submarine warfare aircraft, Poseidon-8I. First of the four new P-8I aircraft will be delivered in 50 months.
2. Incidentally, India is P-8I's first international customer and was also Boeing's first military sale to India. 
The contract was inked during the on-going visit of the US under secretary for defence on Acquisition Frank Kendall.
3. The contract is a follow-on order to eight P-81 planes worth 2.1 billion dollars deal inked in 2009, already bought by India in a direct deal with the firm. These aircrafts were inducted by the Navy between May 2013 and October 2015.

6. Muralitharan, Lohmann, Morris and Rolton to be inducted into Cricket Hall of Fame

1. The International Cricket Council (ICC) announced that Muttiah Muralitharan, Karen Rolton, Arthur Morris and George Lohmann will be inducted into the ICC Cricket Hall of Fame.
2. With the announcement, off-spinner Muralitharan becomes the first Sri Lankan player to be inducted into the Hall of Fame.
The four cricketers were voted by the ICC Cricket Hall of Famers as well as members of the media. They will be presented with commemorative caps honouring their contribution to the game to mark their induction.

7. Union Cabinet increases limit for foreign investment in Stock Exchanges from 5% to 15%

1. The Union Cabinet has given its approval for raising foreign shareholding limit from current 5% to 15% in Indian Stock Exchanges. The decision brings the investment limit of foreign entities at par with that of domestic institutions. 
2. This enhanced limit is for a stock exchange, depository, banking company, insurance company and commodity derivative exchange. Additionally, the Union Cabinet also gave its approval for foreign portfolio investors to acquire shares through initial allotment, besides secondary market, in the stock exchanges.

8. Neelamraju Ganga Prasada Rao, Father of Hybrid Sorghum passes away

1. Distinguished agricultural scientist Dr. Neelamraju Ganga Prasada Rao passed away in Hyderabad, Telangana following a brief illness. He was 89. He is famously known as “Father of Hybrid Sorghum”. He is also famous for his basic and applied research in breeding and agronomy of several dryland crops.

9. T Nandakumar resigns as NDDB chief

1. Senior bureaucrat and dairy sector expert, T Nandakumar declared his resignation from the post of Chairman of National Dairy Development Board (NDDB) citing personal reasons. 
2. Nandakumar, who took over as Chairman of the apex dairy development board on March 3, 2014 had a term of 5 years.

10. Writer Mahasweta Devi passes away at 91

1. Eminent author and social activist Mahasweta Devi, whose writings focused on the marginalised communities in the country and served as the voice of the oppressed, died after a multi-organ failure. She was 91.
2. Awarded the Sahitya Akademi and Jnanpith awards for literary excellence, Devi helped tribals and the rural dispossessed in organising themselves in groups so that they could take up development activities in their own areas.She founded several grassroot level societies for the welfare of tribals.