Thursday, 26 May 2016

Daily Current Affairs 26th May 2016 for Upcoming Exams

1. India's growth to rise to 8 percent in FY2019:
  • According to Global rating agency 'Fitch',India's economic growth rate will accelerate to 8% by fiscal year ending March 2019, driven by the gradual implementation of structural reforms, higher disposable income and improvement in economic activity.
  • Fitch expects India's GDP to grow 7.5% in fiscal year ending March 2016 and improve to 7.7% in the current fiscal year and further to 7.9% in the fiscal year ending March 2018.
2. Union Cabinet gives ex-post facto approval to MoU between India and Maldives:
  • The Union Cabinet granted ex-post facto approval to the Memorandum of Understanding (MoU) signed between the Ministry of Tourism, Government of India and the Ministry of Tourism, Government of Maldives.
  • The main objective of the MoU: To expand bilateral cooperation in the tourism sector.To exchange information and data related to tourism.To encourage cooperation between tourism stakeholders, including hotels and tour operators.To establish exchange programme for cooperation in Human Resources Development.To invest in the Tourism and Hospitality sectors.To exchange visits of Tour Operators/Media/Opinion Makers for promotion of two-way tourism.To exchange experiences in the areas of promotion, marketing, destination development and management.To participate in travel fairs/exhibitions in each other’s country.To promote safe honourable and sustainable tourism.

3. Telangana govt signs MoU with Eclat Health Solutions:
  • Telangana government has signed an MoU with US-based healthcare tech firm Eclat Health Solutions, which, according to the agreement, will invest USD 15 million in the state to provide 1,000 jobs.
  • A state government team led by IT Minister K T Rama Rao which is currently touring the US signed.
4. India fifth largest producer of e-waste:
  • India emerged as the fifth largest producer of e-waste in the world, but the second largest mobile market with 1.03 billion subscribers as per the ASSOCHAM-KPMG joint study.

5. HRD Ministry launches portal:
  • The Ministry of Human Resource Development has launched  a multilingual knowledge portal
  • It aims to not only ensure universalisation of education but also creation of a knowledge society in the digital age.
  • The idea behind the initiative is protection, preservation and inclusion of all Indian languages through technological development without discrimination.
  • The portal has been launched in 22 scheduled languages, which eventually will be extended to 100 more languages.
6. Ashok Leyland re-appoints Vinod K Dasari as Managing Director:
  • Hinduja Group flagship Ashok Leyland has approved the re-appointment of Vinod K Dasari as Managing Director of the company for 5 years from April 1, 2016.
7. Union Cabinet approves MoU between ISRO and United Arab Emirates Space Agency:
  • The Union Cabinet has approved Memorandum of Understanding (MoU) signed between Indian Space Research Organisation (ISRO) and the United Arab Emirates Space Agency (UAESA) for cooperation in the exploration and user of outer space for peaceful purposes.
  • Decision in this regard was taken by Union Cabinet meeting chaired by the Prime Minister Narendra Modi in New Delhi.
  • The MoU seek to set up a Joint Working Group with members from ISRO and UAESA. It will further work out the plan of action including the time-frame and the means of implementing the MoU.
8. ONGC Q4 profit jumps 12%:
  • Oil and Natural Gas BSE 3.09 % Corporation's fourth quarter profit jumped 12% .
9. Union Road Transport Minister Gadkari launches safety feature-rich Nirbhaya buses:
  • Union Road Transport and Highways Minister Nitin Gadkari has launched 20 Nirbhaya buses of Rajasthan State Transport Corporation with multiple safety measures to better protect women passengers.
  • Nirbhaya bus security measures include Vehicle Tracking System (VTS), CCTV and panic buttons on every seat. Gadkari said that it will be given to other states in due course of time, adding that buses in the future should be manufactured with such safety features to contain anti-social elements.
  • After June 2, the ministry will issue a notification mandating public vehicles with a seating capacity of more than 23 seats to fix closed-circuit television, VTS and panic buttons while vehicles below 23 seats will be asked to install VTS and emergency buttons.
10. ISRO to test Air-breathing Propulsion System:
  • The Indian Space Research Organization (ISRO) has decided to test an Air-breathing Propulsion System after successful test of Reusable launch Vehicle- Technology Demonstration (RLV-TD).
  • The testing of air-breathing propulsion system aims to capitalize on the oxygen in the atmosphere instead of liquefied oxygen while in flight.
  • ISRO is evolving and testing various technologies to bring down the cost of launch vehicles and the air-breathing propulsion system is part of its new space endeavor.
11. Islamic banking to debut in Gujarat:
  • Saudi Arabia based Islamic Development Bank (IDB) has announced to open its first branch in India at Ahmedabad, Gujarat.
  • Its a part of MoU between India’s EXIM Bank and IDB during Prime Minister Narendra Modi visit to United Arab Emirates (UAE) in April 2016. The IDB is also keen at investing in small and medium enterprises (SMEs) of Gujarat.
Current Affairs 26th May 2016

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