Daily Current Affairs- 13th August 2016

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

1. Nagaland government to grant 33% reservation to women in Urban Local Bodies
1.The Nagaland Government decided to grant 33 percent reservation to women in Urban Local Bodies (ULBs). The decision was taken during a cabinet meeting held in Kohima.
The decision was announced by the Chief Minister TR Zeliang 2.during the State Level Watershed Conference held in Kohima.
Zeliang however said the state has not been able to avail the annual developmental funds granted by the Centre for ULBs, which was a big loss.
3. Elections to the state ULBs have been pending for several years as the tenure of the first municipal bodies came to an end between December 2009 and March 2010.
4. Zeliang said the Joint Action Committee on Women Reservation of the Naga Mothers' Association was fighting in the Supreme Court for 33 percent women reservation, which has also led to withholding of the elections to the ULBs.

2. Nasscom launches operations of its startup warehouse in Visakhapatnam
1. The apex IT industry body in the country, National Association of Software and Services (Nasscom) has launched operations of its startup warehouse at Sunrise Startup Village at Rushikonda in Visakhapatnam, AP.
2. This is the first Nasscom Startup Warehouse in AP and ninth under its 10,000 startup initiative by 2020, which was kick-started from Bengaluru in 2013.

3. Railway Budget set to be merged with Union Budget from next fiscal
1. Ending a 92-year-old tradition which started during the colonial era, Railway Budget will be merged with the General Budget from 2017-18 onwards.
2. The move is considered to be a relief to the national transporter, which was suffering from an additional burden of about Rs 40,000 crore on account the Seventh Pay Commission and close to Rs 35,000 crore on subsidy burden. If the merger happens, the Railways will get rid of the annual dividend that it has to pay for gross budgetary support from the government.
3. According to a report, the finance ministry has given a go-ahead signal to the proposal by the Railways ministry and has set up a five-member committee in this regard.

4. Syndicate Bank launches Project Ananya aimed at digital banking
1. India's major commercial banks of India, Syndicate Bank has launched a program called "Project Ananya" that focuses on improved customer service and offering the latest in digital banking services.
2. Project Ananya over the next 2 years will upgrade the products, services and digital channels of the Bank to cater to the fast changing customer needs including those of the younger generation, who are more tech-savvy and prefer to do banking online. The project is also focused on improving business through enhanced sales and service focus as well as improving the HR policies and practices of the Bank.
3. The bank plans to transform 10 % of its branches to the new format in the next 6-12 months. The first Ananya branch was opened by MD and CEO Arun Srivastava.

5. SBI, Korea Development Bank join hands for biz opportunities
1. The Country's largest public sector lender State bank of India and Korea Development Bank have signed a memorandum of understanding to enhance business synergies.
2. The agreement was signed between SBI chairman Arundhati Bhattacharya, and chairman and CEO of Korea Development Bank (KDB), Lee Dong-Geol.
3. Through this MoU, both SBI and KDB will gain direct access to both markets of operation, and will be able to use the vast combined network to expand their businesses abroad. In this regards, both the banks will also set up a korea desk in India to enable a smooth cooperation and draw the full benefit from the MoU.