Daily Current Affairs- 14th August 2016

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

1. Dipika Pallikal wins PSA Australian Open
1. India’s top squash player Dipika Pallikal has won the prestigious PSA Australian Open held in Melbourne. In the 40-minute final match, she defeated Mayar Hany (World no 8) of Egypt by 10-12, 11-5, 11-6, 11-4 score. 
2. Earlier in 2015, Pallikal had won the prestigious Winnipeg Winter Open held in Canada. Besides, she also has won Macau Squash Open (2013), Meadowood Pharmacy Open (2013), Crocodile Challenge Cup (2011), Dread Sports Series (2011) and Orange County Open (2011).

2. Sri Lanka and China sign tripartite agreement to construct Financial City Centre in Colombo
1. Sri Lanka and China have signed a tripartite agreement to proceed with the construction of a Financial City Centre in Colombo. The agreement was signed between Sri Lanka’s Urban Development Authority, Ministry of Megapolis and Western Development and China Harbour Engineering Company.
2. The Colombo International Financial City project aims to transform Sri Lanka into an international financial hub in the Indian Ocean region (IOR). It will be the centre of the maritime city which be one of the key phenomenon that will decide the future development of Sri Lanka. The project will include central parks and beaches for the public and is expected to create thousands of jobs in the island country.

3. Union Government launches 1st phase of Smart Ganga City programme in 10 cities
1. The Union Government has launched the first phase of Smart Ganga City programme in 10 cities located along River Ganga. The first phase of programme was jointly launched by the Union Urban Development Minister M Venkaiah Naidu and Union Water Resources Minister Uma Bharti.
2. 10 Cities/Towns are Haridwar, Rishikesh, Mathura, Varanasi, Kanpur, Allahabad, Lucknow, Patna, Sahibganj and Barrackpore. Under this programme, Sewage Treatment Plants (STPs) and improve drainage network will be set up on hybrid annuity mode on public private partnership basis. In the hybrid annuity model, a part of capital investment (up to 40%) will be paid by Union Government through construction linked milestones.

4. No Rail Budget from next fiscal
1. The 92-year-old practice of presenting a separate Rail Budget is set to come to an end from the next fiscal, with the Finance Ministry accepting Railway Minister Suresh Prabhu’s proposal to merge it with the General Budget.
2. According to the Railways, the Finance Ministry has now constituted a five-member committee comprising senior officials of the Ministry and the national transporter to work out the modalities for the merger. The committee has been asked to submit its report by August 31.
3. The public sector behemoth has to bear an additional burden of about Rs. 40,000 crore on account of implementation of the 7th Pay Commission awards, besides an annual outgo of Rs. 32,000 crore on subsidies.
4. Besides, the delay in completion of projects resulted in cost overrun of Rs. 1.07 lakh crore and huge throw-forward of Rs. 1.86 lakh crore in respect of 442 ongoing rail projects.
5. If the merger happens, Indian Railway will get rid of the annual dividend it has to pay for gross budgetary support from the government every year.

5. 6,900 km gas pipelines to connect Bangladesh, Myanmar, India
1. The government has ambitious plan to lay 6,900 km of gas pipelines linking Bangladesh, Myanmar, most north-eastern states, and West Bengal.
2. Currently, large quantities of gas is flared (burned) in the north-eastern region because it can't be piped to the consumers, he said.
3. . Bangladesh Petroleum Corporation (BPC) and Indian Oil Corporation (IOC) signed an agreement in April this year to jointly set up a Liquefied Petroleum Gas (LPG) terminal plant in Chittagong port city which will help pipe gas to the north-eastern states.