Current Affairs For Bank, IBPS Exams - 06 January 2016

Current Affairs for BANK, IBPS Exams

06 January 2016

:: NATIONAL ::

PM Modi and Pakistan PM discussed Pathankot attack

Pakistan Prime Minister Nawaz Sharif telephoned Prime Minister Narendra Modi, assuring him of Islamabad’s support in investigating the leads provided by New Delhi, hours after their National Security Advisors spoke to each other.
Acknowledging the urgency of the situation, Mr. Sharif placed the call from Colombo, during his state visit there, and the conversation indicated that both Prime Ministers were in favour of continuing the recently renewed diplomatic engagement.
In the call that lasted about 15 minutes, Mr. Modi reportedly made it clear that the evidence from the attack on the air force base in Punjab led directly to a group in Pakistan.
Prime Minister Modi strongly emphasised the need for Pakistan to take firm and immediate action against the organisations and individuals responsible for and linked to the Pathankot terrorist attack.
Specific and actionable information in this regard has been provided to Pakistan.
The next step in engagement depended entirely on what “action on the ground” was taken by Pakistan on thebasis of evidence that India had shared.
While neither side officially confirmed the details of the leads shared by the two National Security Advisers.

FM says more public expenditure on infrastructure projects this year

Finance Minister Arun Jaitley Committed himself to increasing allocations for infrastructure projects such as rural roads, highways and the railways during 2016-17.
He also said that public investments must lead the way during a global slowdown and India had an opportunity to spend more on infrastructure because of low oil, commodities and mineral prices.
He mentioned that there would be ‘no easy day’ in a world economy passing through a phase of volatility.
Worldwide, the experience has been that when the going is tough, state institutions have to take the lead. When the going is good, the private sector has an important role to play.
FM said funding infrastructure projects remained a big challenge, and the government was hopeful of partnering sovereign wealth funds and pension funds that evinced interest in the National Investment and Infrastructure Fund.
Foreign direct investment has been allowed and announced by GE and Alstom in two large manufacturing projects in Bihar. The Ministry will soon come out with bids for redeveloping 400 stations.

Last rites were given to security personnel died in Pathankot attack

Some heldtheir tears, while others were inconsolable as coins of security personnel killed in the Pathankot terror strike reached home for the last rites, which were performed with full military honours.
Amid the pall of gloom that descended on the remote village of Elambulassery, near Mannarkkad, in Palakkad, hundreds bade a tearful adieu to Lt. Col. E.K. Niranjan.
A long way from there, at Garnala, near Ambala, in Haryana, slogans of Bharat Mataki Jai rent the air as the body of Garud commando Gursewak Singh, draped in the Tricolour, reached the village.
In Gurdaspur, Punjab, scores of mourners gathered at the house of Subedar Fateh Singh, 51, a shooter who had won Commonwealth medals. Singh’s daughter Madhu joined the soldiers in carrying the body for cremation.

38th Chief Justice of India passes away

Sarosh Homi Kapadia, the 38th Chief Justice of India, bid farewell to the world in Mumbai with his integrity, which he considered his “only asset,” intact. He was 68.
Shortly after his appointment as the first Parsi Chief Justice of India on May 12, 2010, Justice Kapadia replied to Justice V.R. Krishna Iyer’s congratulatory message.
In this, he spoke of how he had started as a Class IV employee and described integrity as his only asset.
A strict disciplinarian with interests ranging from Theoretical Physics to Buddhist Philosophy, Justice Kapadia was best known for his statistical acumen.

:: INTERNATIONAL ::

U.S. Walking a tight rope in West Asia

As the spiralling tensions between Saudi Arabia and Iran threaten to unbalance U.S.’s tightrope walk in the strife-torn West Asian region, Washington has launched a massive diplomatic outreach to both countries, but would stop short of trying to “mediate”.
We want to see these kinds of tensions solved bilaterally,” said John Kirby, State Department spokesperson.
Secretary of State John Kerry and several other officials are in touch with Iranian and Saudi functionaries to defuse the situation, but Washington would avoid too close an involvement as it could complicate the matter.
Saudi Arabia’s Sunni monarchy and Iran’s Shia theocracy are bitter adversaries in the region, but are also part of a multilateral process led by the U.S and Russia to stabilise Syria.
The Saudi action that precipitated a crisis in the region happened despite the U.S repeatedly cautioning them against the cleric’s execution.
The current flare-up has its origin in the Saudi monarchy’s deep resentment against the U.S-led nuclear deal with Iran that has begun to come into effect with Iran shipping its specified nuclear material to Russia last week.
Saudis accuse the U.S. of giving legitimacy to Iran before roping them into the Syrian process.
The Saudi reservations were mis- placed as Iran continues to be in the U.S. list of state sponsors of terrorism.

:: BUSINESS and ECONOMY ::

Social media network, local Circles says corruption is big bottleneck for entrepreneurship

Corruption and delays are preventing the growth of entrepreneurship in India, according to a new survey.
The survey, undertaken by social media network, Local- Circles, showed nearly 60 per cent of the citizens felt these bottlenecks were some of the biggest hurdles to growth of entrepreneurship in the country while only 14 per cent felt funding to be the main impediment.
The survey comes in the backdrop of Prime Minister Narendra Modi scheduled to announce ‘Start-Up India Plan’ next week.
Ninety-eight per cent of the respondents said the Start Up India mission should go beyond digital/technology startups and enable entrepreneurship at the grassroot level.
Asked if the Central or State governments can be effective and efficient funding bodies for startup projects, 58 per cent of the people replied in the affirmative.

Centre likely to scrap 10 % export tax on low-grade iron ore

The government is likely to scrap the ten per cent export tax levied on low-grade iron ore in view of the falling global prices and the lack of demand for such ore among domestic steel producers, giving a fillip to the economy of Goa.
Iron ore prices were much higher when these taxes were imposed but are hovering around $40 a tonne now with China’s steel production slowing considerably.
Government has reduced export tax on such low grade iron ore, with ferrous content of less than 58 per cent, in the 2014-15 Budget from 30 per cent to 10 per cent in a bid to revive mining activity in Goa.
Over 85 per cent of the iron ore produced in Goa is of low-grade but all mining activity had stopped in September 2012 following the environment ministry’s decision to withdraw green clearances for iron ore mines in the wake of Justice MB Shah Commission’s reporton illegal mining.
The clearances were reinstated last March and the first iron ore shipment despatched in October 2015.

:: SPORTS ::

Read Madrid sacked Rafael Benitez

Real Madrid sacked coach Rafael Benitez after just seven months in charge on Monday with club legend Zinedine Zidane replacing the Spaniard.
Benitez’s unhappy reign came to an end after a2-2 draw away to Valencia.
Zidane scored a sensational winning goal to hand Madrid the 2002 Champions League as a player, but is short on managerial experience having only ever taken charge of Madrid’s feeder team Castilla.

Pranav Dhanawade made world record

The boundaries, especially square of the wicket, were short.
The opponents were half his height, if not age. Still, Pranav Dhanawade deserves all the accolades for having become the first cricketer to score 1,000 runs in an innings in a competitive match.
The Class 10 student from the KC Gandhi School in Kalyan, an eastern suburb approximately 60 kilometres from south Mumbai, achieved the milestone in the Thane district inter-school tournament for the HT Bhandari Shield.
The 15-year-old’s 1,009 not out of 323 balls obliterated a 117-year-old record for the highest number of runs scored in one innings which stood in the name of Arthur Collins’s previous record total of 628 in England in 1899.