Current Affairs Bits

CA Bits Jan, '16

Reserve Bank has imposed a penalty of Rs

1 crore on an SBI associate bank, State Bank
of Travancore, for violation of some of its
instructions.

Ian Murdock, best known for founding one

of the world's best known Linux
distributions, passed away on 28 December
2015 in San Francisco.

Justice RM Lodha Committee submitted its

report to Supreme Court. Recommended
legalisation of betting in IPL.

Andhra Bank has announced it is launching

Immediate Payment Service (IMPS) across
branches to provide interbank electronic
transfer service, capable of processing
person to account remittances.

Wipro names Abidali Neemuchwala as

CEO

Several heavily armed terrorists belonging

to Jaish-e-Mohammed, an Islamist militant
group, on 2 January 2016 attacked
Pathankot Air Force Station, part of the
Western Air Command of the Indian Air
Force (IAF).

Earthquake 6.7 hits North East India.

Epicenter located 40 km from Imphal.

Government of Telangana on 2 January

2016 launched e-Vahan Bima Scheme to
issue motor insurance policy in digital form.

Internet and Mobile Association of India

(IAMAI) has named Kunal Shah, cofounder
and chief executive officer of FreeCharge as
the new chairman of the association.

Professional networking platform LinkedIn

appointed Akshay Kothari as Country Ma
nager for India, with immediate effect.

Pranav Dhanawade became the first

batsman to score 1000-plus runs in an
innings in any form of cricket

Mary Barra elected as first Woman

Chairman of General Motors Board of
Directors.

World Braille Day observed on 4 January.

Jinnah Often Came To Our House Authored

by Kiran Doshi released by Vice President.

India on 3 January 2016 won of the South

Asian Football Federation Cup (SAFF)
championships defeating Afghanistan.

2/1/2016

Ex-Chief Justice of India Sarosh Homi

Kapadia passed away on 4 January 2016 in
Mumbai.

Department of Posts on 1 January 2016

formed a one-man committee headed by
Kamlesh Chandra to study issues related to
Gramin Dak Sevaks including wage
structure and service conditions.

Downloaded from www.exampundit.in

India-Nepal Bus Service on 4 January 2016

resumed after a gap of 27 years. The
service was suspended 27 years ago in the
wake of the Indo-Nepal Trade and Transit
Treaty.

CA Bits Jan, '16

The Union Minister of Water Resources,
River
Development
and
Ganga
Rejuvenation Uma Bharti on 5 January 2016
launched Ganga Gram Yojana at Village
Puth in Hapur district of Uttar Pradesh
(UP).

State election commissioner (SEC) Ashok

Kumar Chauhan on 4 January 2016
announced that toilets will be mandatory
requirement for eligibility to contest
panchayat elections.

Sambalpur University conferred the

prestigious Gangadhar National Award for
Poetry -2014 on noted Bengali poet
Subodh Sarkar.

Bharat Heavy Electricals Ltd has

announced it has commissioned the first
600 MW coal-based Kakatiya Thermal
Power Plant in Telangana.

Sam Pitroda, former chairman of the

National Knowledge Commission and exadviser to the prime minister, has been
appointed technology advisor of Odisha.

The Union Cabinet has given its approval for

the creation of a Credit Guarantee Fund for
Micro Units Development Refinance
Agency (MUDRA) loans. Approval has also
been given for converting MUDRA Ltd into
MUDRA Small Industries Development
Bank of India (SIDBI) Bank as a wholly
owned subsidiary of SIDBI.

Reserve Bank of India has permitted bank

branches in International Financial
Services Centres (IFSC) to open foreign
currency current accounts for entities
operating in IFSC. Banking regulator also
lifted limit on short term liabilities IBUs
could have from banks. The rules have been
eased to facilitate investment transactions
and give flexibility in operations. These
bank branches are termed as IFSC Banking
Units (IBUs).

The central government has approved an

assistance of Rs 815 crore for Odisha for
drought relief operations. The state
government
had
submitted
a
memorandum amounting to Rs 2,199.06
crore to the Government of India for
management of Drought-2015.

The Union Cabinet on 6 January 2016

approved the Stand Up India Scheme to
promote
entrepreneurship
among
Scheduled Caste/Scheduled Tribes and
Women entrepreneurs. It provides for
refinance window through Small Industries
Development Bank of India (SIDBI) with an
initial amount of 10000 crore rupees.

2/1/2016

India is projected to grow by a robust 7.8

per cent this year and 7.9 per cent in the
next two years, the World Bank forecast
citing strong investor sentiment and the
positive effect on real incomes of the recent
fall in oil prices.

Delhi Government on 6 January 2016

scrapped the management quota and
all other
quotas, in private
schools for nursery admissions. T will be
only 25 percent reservation for
economically weaker sections and the rest

Downloaded from www.exampundit.in

75 percent will be made available to the

general public.

Bollywood star Priyanka Chopra has

bagged the favourite actress in new TV
series honour at the 2016 People Choice
Awards for her performance of an FBI
recruit on American show "Quantico". With
this she became the first South-Asian
actress to win a People's Choice Award.

INS Kadmatt, anti-submarine warfare

corvette, commissioned

Dr Achyuta Samanta was on 6 January 2016

elected as the General President of the
105th Indian Science Congress Association
(ISCA) that is scheduled for 2017-18.

Jammu and Kashmir Chief Minister Mufti

Mohammad Sayeed passed away on 7
January 2016 at the AIIMS hospital in New
Delhi. He was 79.

The Reserve Bank of India Governor

Raghuram Rajan on 7 January 2016 was
felicitated with the Central Banker of the
Year Award (Global and Asia Pacific) for
2016. The award was given by the Financial
Times Group's monthly publication The
Banker.

Azim Premji, who donated Rs 27,514 crore

for education is the "Most Generous
Indian" for the third year running followed
by Nandan Nilekani and Narayana Murth y
in the second and third place, respectively
as per the Hurun India Philanthropy List.

2/1/2016

CA Bits Jan, '16

The Union Government on 7 January 2016
merged the Ministry of Overseas Indian
Affairs (MOIA) with the Ministry of
External Affairs (MEA) in keeping with its
broad principle of Minimum Government,
Maximum Governance.

Amitabh Kant was on 7 January 2016

appointed as the Chief Executive Officer
(CEO) of NITI Aayog.

The Union Government on 8 January 2016

allowed the conduct of the traditional bulltaming sports, Jallikattu, in Tamil Nadu.

The Union Ministry of Urban Development

(MoUD) on 7 January 2016 approved the
Atal Mission for Rejuvenation and Urban
Transformation (AMRUT) for Punjab and
Uttarakhand for the year 2015-16.

India and France on 8 January 2016 started

their eight-day counter-terrorism and
counter-insurgency joint exercise Shakti2016 in Rajasthan.

GMR Group Chairman G.M. Rao was

honoured with the 'Bulandh Bharath'
Award for his exemplary contributions
towards nation building.

Bengal Aerotropolis Projects Limited

(BAPL) signed two pacts for air services and
bus manufacturing on the last day of Bengal
Global Business Summit . The first MoU
was signed with Bhutan's Druk Air for
operating flights from Andal to Durgapur,
Bagdogra, Bhutan and onwards to
Singapore. The second MoU is for bus
manufacturing at Andal in Burdwan district

Downloaded from www.exampundit.in

with China's Zhongtong Bus Holding

Company.

The French soldiers will march down the

Rajpath on Republic Day along with Indian
troops in the presence of President
Francois Hollande. Hollande is the Chief
Guest for 26 January 2016 celebrations.
This is the first time that a foreign army will
participate in the 26th January Parade,
since 1950.

The government re-appointed Urjit Patel

as the deputy governor of Reserve Bank of
India for a three-year term. Patel is the
fourth deputy governor, the other three
being HR Khan, R Gandhi and SS Mundra.

Sania Mirza and Martina Hingis won 2016

with WTA Brisbane title

Nick Kyrgios and Daria Gavrilova had

singles wins over Ukraine to lead Australia
Green to the Hopman Cup, the country's
first title in the mixed teams event in 17
years.

Rashtriya
Ispat
Nigam
Ltd,
the
Visakhapatnam steel plant, has signed an
MoU
with the Andhra Pradesh
Government for an investment of around
Rs. 38,500 crore in various projects.

HDFC Life has set up a wholly-owned

subsidiary in the Dubai International
Financial Centre (DIFC) called the 'HDFC
International Life and Re Company Limited'
(HILRCL) with an initial capital outlay of
$12.33 million.

2/1/2016

CA Bits Jan, '16

Binny Bansal appointed as new CEO of
Flipart, Sachin Bansal as Executive
Chairman

Ashish Saraf appointed as vice-president

of Airbus India

DRDO successfully test fired New Tank

Ammunition for Arjun Main Battle Tank

Vice-President Hamid Ansari dedicated to

the nation the K R Narayanan Institute of
Visual Sciences and Arts, a first of its kind
imitative of the Kerala government at
nearby Thekkumithala.

73rd Annual Golden Globe Awards

announced in California. The Revenant
won the Best Motion Picture - Drama while
best Actor and best Director Awards were
conferred to Leonardo DiCaprio and
Alejandro Inarritu for the same movie. Brie
Larson won the best actress award for 'The
Martian' Movie.

Nepal on 9 January 2016 was elected to the

UNICEF executive board, representing the
group of Asia-Pacific countries for the term
2016-2018.

The 11th World Hindi Day was celebrated

on 10 January 2016.

Maria Teresa de Filippis, the first woman

to compete in a world championship
Formula One grand prix, passed away on 8
January 2016 in Italy.

Downloaded from www.exampundit.in

National Youth Day was observed across

India on 12 January 2016 to mark the 153rd
birth anniversary of Swami Vivekananda
who was India's foremost social reformer,
philosopher and thinker.

The
Employees'
Provident
Fund
Organisation has won the National Award
on e-Governance 2015-16 for launching the
Universal Account Number (UAN).

PwC India has set up a centre of excellence

(CoE) for forensics in Hyderabad. The CoE,
with a trained team of over 100
professionals in India, plans to hire 150
more due diligence and antimoney
laundering professionals in the next one
year. This facility will provide clients with
solutions related to antimoney laundering
compliance, third-party due diligence, email and document review, and
investigation support.

SBI said it is planning to monetise non-core

assets and list some of its subsidiaries for
meeting capital needs as well as global risk
norms, Basel III, which will kick in from
March 2019.

Barcelona forward Lionel Messi on 11

January 2016 won the Ballon d'Or trophy
for the world's best football player for the
fifth time overall.

Additional Secretary in the Steel Ministry

Bharathi S Sihag has been given the
additional charge of Chairman-cumManaging Director (CMD) of state-rum
iron ore miner NMDC, with effect from
January 1, 2016.

2/1/2016

CA Bits Jan, '16

Scientists at Central Institute for Research
on Buffaloes (CIRB) in Hisar on 10 January
2016 claimed to have successfully
produced a cloned buffalo offspring Cirb
Gaurav.

The Nati folk dance of Kullu district of

Himachal Pradesh in second week of
January 2016 was listed in the Guinness
Book of World Records as the largest folk
dance in the world.

Union Railway Minister Suresh Prabhakar

Prabhu on 11 January 2016 inaugurated
implementation of E-enabled Track
Management System (TMS) and Mobile
Application of TMS on Indian Railway at
Rail Bhawan in New Delhi.

Telangana became the first State in India

to introduce compulsory gender education
at the graduate level. In this regard, the
state in second week of January 2016
introduced a bilingual textbook titled,
Towards a World of Equals.

Govt unveils Rs-8,800 cr crop insurance

scheme Pradhan Mantri Fasal Bima Yojana
(PMFBY)

Country's largest lender SBI has opened a

branch in Seoul, South Korea to
predominantly finance growing trade and
investment relations between Korean and
Indian companies. SBI is second Indian
bank after Indian Overseas Bank to have
branch in South Korea. Meanwhile, SBI has
signed a Line of Credit with The ExportImport Bank of Korea (K-EXIM) for $ 500
million (Rs 3,300 crore).

Downloaded from www.exampundit.in

India is the largest recipient of loans from

the World Bank, amounting to $102.1
billion, between 1945 and 2015 (as on July
21, 2015), according to the Bank's lending
report.

Vice President Hamid Ansari declared

Kerala as the first state in the country to
attain 'Total Primary Education', and
described the achievement as 'historic.'

NHAI has signed Memorandum of

Understanding with National Remote
Sensing Centre (NRSC) under Indian Space
Research Organization (ISRO) and North
East Centre for Technology Application
and Research (NECTAR) for use of spatial
technology for monitoring and managing
national highways.

Bollywood actor Amitabh Bachchan on 12

January 2016 was bestowed honorary life
membership of Kolkata's soccer outfit
Mohammedan Sporting.

The
prestigious
Yale
School
of
Management will name its deanship in
honour of PepsiCo's India-born CEO Indra
Nooyi as she gifted an undisclosed amount
to her alma mater, becoming the school's
biggest alumni donor and the first woman
to endow a deanship at a top b-school.

Lieutenant General J.F.R. Jacob (retired),

hero of 1971 Bangladesh Liberation War
and former Governor of Goa and Punjab,
died on 13 January 2016 after prolonged
illness.

CA Bits Jan, '16

off-site Automated Teller Machines
(ATMs). Off-site ATMs are the ones that are
set up on a standalone basis and are not on
the premises of a bank branch.

The country's largest public sector bank,

State Bank of India (SBI), has opened its
first branch dedicated to serving startup
companies
in
Bengaluru.
The
announcement comes ahead of the Prime
Minister's 'Start-up India Stand Up India'
event that will be held on January 16, w the
government will roll out its new startup
policy. The bank envisions that its InCube
branches will be a one-stop shop for the
financial service requirements of startups in
the country.

Sikkim has become India's first fully

organic state by implementing organic
practices on around 75,000 hectares of
agricultural land. It was 12 years ago in
2003 when the Pawan Chamling-led
government decided to make Sikkim an
organic farming state through a declaration
in the legislative assembly.

Bengaluru-based
activist
Subhashini
Vasanth on 13 January 2016 was honoured
with Neerja Bhanot Award. She was
presented the award for her endeavour to
help people in distress and for empowering
widows of martyrs and their families across
the country.

David Beckham on 12 January 2016 was

presented with the Danny Kaye
Humanitarian Leadership Award at the
sixth biennial UNICEF Ball in Los Angeles.

Reserve Bank of India has allowed banks to

offer the whole array of services even at

2/1/2016

Downloaded from www.exampundit.in

Bhaskar Bhat, managing director of Titan,

has taken over as Chairman of Tata SIA
Airlines Ltd (Vistara), succeeding Prasad
Menon who retired from the airline on January 13.

India's Sania Mirza and her Swiss partner

Martina Hingis broke a 22-year-old world
record by winning their 29th women's
doubles match in a row en route to their
entry into the women's doubles final of the
WTA Sydney International, .

The US Citizenship and Immigration

Services (USCIS) on 12 January 2016
notified revised petition fees for H-1B and
L-1 visas. The increase in the fees is in tune
with the Consolidated Appropriations Act,
2016 that was signed into law by Barack
Obama, the President of the USA, on 18
December 2015.

India continued its trend of being the top

country of birth from Asia for immigrant
scientists and engineers in US, with
950,000 out of the continent's total 2.96
million, according to a new report.

Renowned British actor Alan Rickman, best

known for playing Professor Severus Snape
in the Harry Potter series and ruthless
terrorist Hans Gruber in "Die Hard", died
on Thursday, media reports said.

Madhya Pradesh (MP) Government on 14

January 2016 signed four MOUs with
Singapore to collaborate in urban
planning, skill development, clean energy
and food processing. Chief Minister Shivraj
Chouhan was awarded with Lee Kuan Yew
Exchange Fellowship for his contribution in
development and international harmony.

2/1/2016

CA Bits Jan, '16

Union Government on 14 January 2016
signed a loan agreement with World Bank
in New Delhi for the Neeranchal National
Watershed Project. The project was
approved by the Union Cabinet in October
2015 with a total budget of 2142 crore
rupees in which India would bear 1071
crore rupees and the rest 50 percent cost
will be borne by the World Bank.

The Union government plans to connect

585 agricultural produce markets under its
National Agriculture Market (NAM)
initiative by March 2018, a senior minister
said on 15 January.

The country's first 'water tourism' will

begin in Madhya Pradesh next month with
the aim of attracting more tourists to the
state. Named as 'Jal Mahotsav', the 10-day
extravaganza will be inaugurated on
February 12 in Hanuwantiya at Indra Sagar
Dam, one of Asia's largest man-made water
reservoir.

Ships and aircraft of the Indian Coast Guard

and the Japan Coast Guard came together
to train for the 15th edition of SahyogKaijin joint exercise in the Bay of Bengal
off the Chennai coast on 15 January.

The total installed capacity of solar power

in India has crossed the milestone of 5,000
MW. The cumulative installed capacity has
reached to 5,130 MW with an installed
capacity of 1385 MW in the current FY.

Eminent film personalities Kamal Hassan

and Gautam Ghosh were on 14 January
2016 included in the Shyam Benegal
Committee on functioning of the Central
Board of Film Certification (CBFC).

Downloaded from www.exampundit.in

Sania Mirza and Martina Hingis' aweinspiring run continued unabated as they
lifted their second trophy of the season
with the WTA Apia International title after
clinching their 30th win a row, on 15
January.

Sensitive portrayal of life for young women

facing the threat of the diktat of khap
panchayats in Haryana has earned Ankita
Anand, a journalist-writer based , the
European
Commission's
prestigious
Lorenzo Natali Media Prize for 2015 (AsiaPacific).

The World Health Organisation declared

an end to the deadliest Ebola outbreak
ever on Thursday after no new cases
emerged in Liberia, though health officials
warn that it will be several more months
before the world is considered free of the
disease that claimed more than 11,300 lives
over two years.

CA Bits Jan, '16

Cardiac Design Labs, a startup that has
come up with an innovation to help cardiac
patients in rural India access critical care
through a wearable device, came out
triumphant at a live contest hosted by tech
firm Google at the Startup India event.

China-backed
Asian
Infrastructure
Investment Bank (AIIB), in which India and
56 countries have joined as founding
members, was formally opened on 16
January by Chinese President Xi Jinping.

Online marketplace Flipkart has tied up

with auto major Mahindra & Mahindra Ltd
to exclusively launch the latter's newest
SUV- KUV100. Consumers can book the
SUV on Flipkart from January 18th, 2016.

Tsai Ing-wen elected China's first female

president.

68th Army Day celebrated on 15 January.

PM Narendra Modi flags off Start-Up India
initiative. With 4,200 startups, India ranks
3rd globally. Of $18 billion pumped into
Indian startups between 2010-15, $9 billion
came in 2015 alone. 9 Indian startups have
been valued at more than a billion dollars.
80% reduction in patent registration fee.
10,000 crore corpus fund to support startups. Tax exemption for start-ups for three
years. Innovation programme to start 5
lakh schools to target 10 lakh children.

The World Bank on 14 January 2016

announced that India saved 1 billion US
dollars annually by using Aadhaar. It was
revealed in the banks publication World
Development Report 2016: Digital
Dividends that was released in Washington
DC, the USA.

2/1/2016

Exim Bank of India and the Government of

Andhra Pradesh have entered into a
Memorandum of Understanding (MoU)
for promotion of exports from the state.

The National Institution for Transforming

India (NITI) Aayog on 17 January 2016
announced that it collaborated with the
IDFC Bank Ltd to conduct an enterprise
survey of manufacturing firms.

Mumbai-based Jet Airways on 15 January

2016 entered into a Frequent Flyer
Partnership with Bangkok Airways.

Downloaded from www.exampundit.in

Technology giant IBM on Monday said it

has bagged a 7-year deal worth $40 million
(about Rs 270.3 crore) from Bank Tech
India (BTI) Payments, a white label ATM
(WLA) operator to transform its IT
Infrastructure.

The Somnath Temple Trust is all set to

become Gujarat's first temple to deposit
its idle gold in the Gold Monetisation
Scheme as its trustees including Prime
Minister Narendra Modi have given their
nod to invest the yellow metal reserves in
the scheme.

CA Bits Jan, '16

Haryana off-spinner Ajit Chandila was
slapped with a life ban for his involvement
in the 2013 IPL spot-fixing scandal, while
Mumbai batsman Hiken Shah was handed a
five-year suspension for making a corrupt
approach to a fellow player as the BCCI
disciplinary committee sealed their fate
after a meeting on 17 January.

BHEL has commissioned the second 660

MW supercritical unit of Lalitpur Super
Thermal Power Project (STPP) in Uttar
Pradesh.

The
MUDRA'
loan
for
women
entrepreneurs or Boutique Finance for
Women Entrepreneurs a special loan
scheme under Prime Minister MUDRA
Yojana has been launched for catering to
the
financial
needs
of
women
entrepreneurs. Under the scheme, State
Bank of India too has come forward to
participate and provide loans to help
women entrepreneurs in West Bengal who
are engaged in various handicraft activities.

Indias Dinesh Sharma on 17 January 2016

was elected to the 12-member board of
directors of the China-sponsored Asian
Infrastructure Investment Bank (AIIB). A
secret ballot for the post was held on 16
January 2016.

The International Monetary Fund (IMF) on

19 January kept Indias growth projection
unchanged at 7.3 per cent in the current
fiscal and 7.5 per cent in the next, even as
it cut world economic outlook to 3.4 per
cent for 2016.

Tata Motors has appointed former top

official of Airbus Guenter Butschek (55) as
its Chief Executive Officer & Managing
Director.

Union Ministry of Finance on 18 January

2016 released the draft report of Justice R
V Easwar (Retd) Committee to simplify the
provisions of Income-tax Act, 1961.

Ola appoints Raghuvesh Sarup as Chief

Marketing Officer

India is home to the fourth largest

population of millionaires in the Asia
Pacific region, with 2.36 lakh such high net
worth individuals, while Japan topped the
list with 12.60 lakh people, a report says.
According to the Asia Pacific 2016 Wealth
Report, by New World Wealth, India was
ranked among the top five Asia Pacific
countries in terms of number of High Net
Worth Individuals (HNWIs).

Anuradha Roy won 2016 DSC Prize for

Sleeping on Jupiter

2/1/2016

Downloaded from www.exampundit.in

Reflecting an acute shortage of skilled

labour force and difficult business
conditions, India has slipped 11 places to
rank 89th on a global index of talent
competitiveness, a list which has been
topped by Switzerland.

Indian space agency ISRO is all set to make

its first rocket launch of the year and the
fifth satellite of India Regional Navigation
Satellite System -- IRNSS-1E, on board PSLVC31 rocket from Sriharikota on Wednesday.

In a global first, the World Bank in third

week of January 2016 decided to extend an
assistance of 20 million US dollar to help
reconstruct the Indira Gandhi Zoological
Park (IGZP), which got devastated during
cyclone Hudhud in October 2014, in
Visakhapatnam.

The Union Government on 18 January 2016

decided to institute a new award category
under the National Film Awards titled The
Most Film Friendly State/UT.

French President Francois Hollande on 18

January 2016 declared a state of economic
and social emergency to redefine countrys
economic and social model.

India has emerged as one of the five most

promising markets for businesses globally
as it offers one of the best opportunities for
both domestic as well as global companies,
says a survey.

2/1/2016

CA Bits Jan, '16

The Cabinet on 20 January cleared ex-post
facto the stand taken by India on food
security at the last meeting of the World
Trade Organisation held in Nairobi.

Union Government on 19 January 2016

sanctioned 33000 crore rupees for the
development of infrastructure projects in
Tamilnadu.

The Union Ministry of Shipping on 19

January 2016 started Project Green Ports,
which will help in making the Major Ports
across India cleaner and greener.

The Indian Space Research Organisation

(ISRO) on 20 January 2016 successfully
launched the Indian Regional Navigational
Satellite System (IRNSS) 1-E satellite. The
satellite will provide navigation, tracking
and mapping services to the Indian sub
continent. The satellite is the fifth of the
IRNSS constellation.

Countrys own fighter aircraft light combat

aircraft (LCA), Tejas, will take part in the
three-day Bahrain International Airshow
starting from Thursday (January 21 to 23).

The Maharashtra Government and Tata

Trust on 19 January 2016 signed a
Memorandum of Understanding (MoU)
for a skill training programme for the
youth in the state.

The Bihar Cabinet on 19 January 2016

formally approved 35 percent reservation
for women in all government jobs in the
state.

Downloaded from www.exampundit.in

10

Mamta Binani has been elected President

of the Institute of Company Secretaries of
India (ICSI) for 2016. She took charge on
January 19.

CA Bits Jan, '16

The Union Government on 21 January 2016
granted Infrastructure Status to the
Shipyard Industry in a bid to ease its
financial stress.

Reserve Bank of India (RBI) on 21 January

allowed banks to sell gold coins
manufactured by MMTC Ltd, through bank
branches as the gold procured for making
the coins are from the domestic market.

The Cabinet Committee on Economic

Affairs (CCEA) on 21 January 2016 gave its
approval for setting up over 5000 MW of
Grid-Connected Solar PV Power Projects on
build, own and operate basis.

The Securities and Exchange Board of India

(SEBI) on 21 January 2016 released the first
report of the Alternative Investment Policy
Advisory
Committee
(AIPAC)
for
comments from the stakeholders. The 21member committee was constituted by the
SEBI in March 2015 under the chairmanship
of N R Narayan Murthy, co-founder of
Infosys, to suggest measures for
development of the alternative investment
funds (AIFs) and startup eco-system in the
country.

The Indian Space Research Organization

(ISRO) and Kuwait Institute of Scientific
Research (KISR) on 21 January 2016 signed
a Memorandum of Understanding (MoU)
on cooperation in the exploration and use
of outer space for peaceful purposes.

The Government of India and the World

Bank on 21 January signed a $250 million
credit agreement under the Jhelum and
Tawi Flood Recovery Project for
reconstruction and recovery support in
flood-affected areas in which public
infrastructure and livelihoods were
impacted severely.

Japan-based SoftBank has invested an

additional Rs 100 crore in Housing.com to
drive the growth of the realty portal.

The Union Cabinet on 21 January 2016

approved amendments in Power Tariff
Policy to ensure 24X7 affordable power for
all.

2/1/2016

The Girls First initiative was in news in the

third week of January 2016 as the results
showed that it helped in improving
emotional and physical well-being of school
children in Bihar.

Three Mi-25 gunship helicopters supplied

by India are to officially join the Afghan Air
Force on 21 January. The gunships,
delivered at the end of December last year,
have been in the assembly process.

Noted environmentalist Ravi Chellam on 21

January 2016 took charge as the Executive
Director of Greenpeace India, a NonGovernment Organisation (NGO).

Former world number one Lleyton Hewitt

bade an emotional farewell from tennis on
21 January.

Downloaded from www.exampundit.in

11

The Prime Minister Narendra Modi on 21

January 2016 released a book titled The Z
Factor: My Journey as the Wrong Man at
the Right Time in New Delhi. The book is
the autobiography of the promoter of
Essel/ Zee Group Subhash Chandra.

CA Bits Jan, '16

The Bombay Stock Exchange (BSE) on 18
January 2016 launched Algorithm Trading
Test Environment (ATTE) service in
partnership with Symphony Fintech
Solutions Pvt Ltd. It is also known as AlgoTrading or Black-Box Trading.

Eminent danseuse Mrinalini Sarabhai, wife

of the late Dr Vikram Sarabhai, father of
Indias space programme, passed away on
21 January following age-related health
complications.

The Chhattisgarh Government on 20

January 2016 signed a share-holding
agreement with a few central governmentrun corporations for the second phase of
Jagdalpur-Raoghat railway project.

India will be the fastest growing major

economy in the world in 2016, says the
United Nations World Economic Situation
and Prospects 2016 report launched on 22
January. This report expects the Indian
economy, which accounts for over 70 per
cent of South Asia's GDP, to grow 7.3 per
cent in 2016 and 7.5 per cent in 2017, up
from an estimated 7.2 per cent in 2015.

Senior revenue service officer Atulesh

Jindal on 21 January 2016 was appointed
chairman of Central Board of Direct Taxes
(CBDT).

The government will pay banks a 2.5%

commission to unlock the countrys
massive stash of gold under a new
monetisation scheme, the RBI said, as the
ambitious plan received a poor response
from banks and customers.

Deposits in accounts opened under the

governments flagship financial inclusion
programme Pradhan Mantri Jan Dhan
Yojana (PMJDY) have crossed the Rs.
30,000 crore mark.

Union Health Minister J P Nadda was on 22

January named by UN chief as a member of
the first high-level UN advisory group of a
'Every Woman Every Child', that will
address the major health challenges faced
by women, children and adolescents.

Senior revenue officer Ashok Kumar Mehta

was on 22 January appointed as Private
Secretary to President Pranab Mukherjee.

The Nai Manzil scheme was on 20 January

2016 launched for the first time in Jammu
and Kashmir. The scheme was launched for
girls in Srinagar in three institutions- Skill
Development Centre, University of Kashmir
and two Madarsas.

The Central Board of Direct Taxes on 22

January signed seven more unilateral
Advance Pricing Agreements (APAs) with
taxpayers, taking the total number of such
pacts to 39.

2/1/2016

Downloaded from www.exampundit.in

12

Railway Minister Suresh Prabhu on 22

January launched a free high-speed public
Wi-Fi service in collaboration with
technology giant Google at Mumbai
Central , the first station in the country to
get such facility.

Nuclear Threat Initiative (NTI), a US-based

think-tank, on 14 January 2016 released the
2016 Nuclear Security Index with the
theme Building a Framework for Assurance,
Accountability, and Action. Among the 24
states with one kilogram or more of
weapons-usable nuclear materials in the
world, while Australia was adjudged as the
safest, India was among the least safe with
the 21st rank.

Person of Indian Origin Rahul Thakkar on 8

January 2016 was named as one of winners
of the Scientific and Technical Awards
given by the Academy of Motion Picture
Arts and Sciences, famously called Oscar
Awards.

India and France on 24 January 2016 inked

16 agreements at the India-France
Business Summit in Chandigarh. The
Memorandum of Understanding (MoUs)
covered a wide range of sectors like urban
development, urban transport, water and
waste treatment and solar energy.

Union Government on 25 January 2016

launched Sahaj Scheme for online booking
of LPG cylinders. The booking can be done
through the unified web portal
www.mylpg.in which is available in 13
languages.

2/1/2016

CA Bits Jan, '16

US News and World Report, WPPs BAV
Consulting and the Wharton School of the
University of Pennsylvania on 20 January
2016 released the inaugural Best Countries
report, a joint rankings and analysis project
at the World Economic Forum, Davos.
Germany is viewed as the best country in
the world followed by Canada and the
United Kingdom. India is ranked as the
22nd best country in the World. India has
the No. 1 upcoming economy.

Superstar Rajinikanth, founder of the

Reliance empire late Dhirubhai Ambani, Art
of Living founder Sri Sri Ravi Shankar and
media baron Ramoji Rao have been chosen
for Padma Vibhushan, the countrys
second highest civilian award, this year.

Maharashtras first Solar Power operated

Mini-Water
Supply
Plant
was
commissioned on 24 January 2016 in
Hingna village of Mouda Taluka in Nagpur
district.

Defence Minister Manohar Parrikar on 23

January 2016 hoisted the largest flag of the
country atop the tallest pole at Pahari
Mandir in Ranchi, Jharkhand.

The Andhra Pradesh Government on 22

January 2016 launched Giriputrika Kalyana
Pathakam Scheme to support the tribal
women in their quest for livelihood.
The Harry Potter author J K Rowling is to
receive the PEN/Allen Foundation Literary
Service Award, PEN America told The
Associated Press on Monday.

Downloaded from www.exampundit.in

13

India's Ace Shuttler, PV Sindhu on 24

January 2016 won the Malaysia Masters
Grand Prix Gold Badminton title. In the
final clash at Penang, she defeated
Scotland's Kirsty Gilmour 21-15, 21-9.

Nation on 24 January 2016 observed the

9th National Girl Child Day.

6th National Voters Day (NVD) was

observed across the country on 25 January
2016 by the Election Commission of India.

Famous Malayalam film actress Kalpana

Ranjani died on 25 January 2016 in
Hyderabad. She was 51 and famously
known as Kalpana.

Transparency International on 27 January

2016 released the Corruption Perceptions
Index (CPI) 2015. While Denmark, with
rank 1, was adjudged as the most
corruption-free country among the
surveyed countries, India was placed at the
76th place with 38 points. India was at the
85th position among the 175 countries
surveyed in the CPI 2014.

India and France on 25 January 2016 inked

14 Agreements/MoUs in Delhi. The
agreements including MoU on purchase of
36 Rafale Aircrafts were signed during the
State Visit of President Francois Hollande of
France to India.

CA Bits Jan, '16

The Reserve Bank plans to procure an Audit
Management and Risk Monitoring System
(AMRMS) for the central bank from five
"potential shortlisted" solution providers,
including PwC and Quadrant 4 Software
Solutions.

International Customs Day observed on 26

January

Prime Minister Narendra Modi along with

the President of France Franois Hollande,
on 25 January 2016 laid the foundation
stone of the International Solar Alliance
(ISA) headquarters in National Institute of
Solar Energy (NISE) in Gwalpahari,
Gurgaon.

Chennupati Jagadish, an eminent professor

at Australian National University (ANU) in
Canberra, Jay Chandra, an eye doctor in
New South Wales, and Sajeev Koshy, a
dentist in Melbourne, received Order of
Australia medal for the year 2016
announced on the Australia Day.

Veteran Bollywood actress Rekha on 25

January 2016 was honoured with the third
Yash Chopra Memorial Award in Mumbai.

President Pranab Mukherjee, on 26

January 2016, awarded Indias highest
peacetime gallantry award Ashoka Chakra,
posthumously to Lance Naik Mohan Nath
Goswami of 9 Para (Special Forces) of the
Rashtriya Rifles.

Republic Day 2016 was celebrated on 26

January 2016 across the nation. This was
the 67th Republic Day of India. President of
France Francois Hollande was the Chief
Guest at 67th Republic Day parade.

2/1/2016

Downloaded from www.exampundit.in

14

Tata
Trusts
collaborates
with
Massachusetts Institute of Technology
(MIT) and Tata Institute of Social Sciences
(TISS) to improve learning at secondary
school level.

President Pranab Mukherjee on 26 January

2016 approved the Union Cabinets
recommendation for the imposition of
Presidents rule on Arunachal Pradesh.

Chhattisgarh government would invest Rs

60,000 on developing infrastructure
projects in the state in next three years
under the 'Sampark Kranti' programme.

India and Armenia on Wednesday signed a

protocol to amend the existing Double
Taxation Avoidance Convention between
the two countries.

CA Bits Jan, '16

remaining investment has to be made by
the developer.

Govt. announces list of first 20 smart cities

under 'Smart Cities Mission'. The cities are:
1. Bhubaneshwar, 2. Pune, 3. Jaipur, 4.
Surat, 5. Kochi, 6. NDMC (New Delhi), 7.
Ahmedabad, 8. Jabalpur, 9. Vizag, 10.
Solapur, 11. Devangere, 12. Indore, 13.
Coimbatore, 14. Kakinada, 15. Belgaum, 16.
Udaipur, 17. Guwahati, 18. Chennai, 19.
Ludhiana, 20. Bhopal.

The Indian Computer Emergency Response

Team (CERT-In) has signed cooperation
pacts with its counterparts in Malaysia,
Singapore and Japan for cyber security.

Aparna Kumar, IPS officer of Uttar Pradesh

cadre, on 17 January 2016 became India's
first civil servant to scale Mount Vinson
Massif, the highest peak in the Antarctica.

Marvin Minsky, the pioneer of artificial

intelligence, died on 24 January 2016 at
Bostons Brigham and Womens Hospital
due to cerebral hemorrhage.

IRCTC restricts ticket booking to six per

month.

The Union Cabinet on 27 January 2016

approved increase in the Authorized Share
Capital of the National Scheduled Castes
Finance and Development Corporation
(NSFDC). The target of NSFDC for the year
2015-16 is to cover 63000 beneficiaries.

India gets more voting rights as IMF

implements quota reforms. For the first
time, the four emerging economies -- India
China, Brazil and Russia -- would be among
the 10 largest members of the
International Monetary Fund.

The Cabinet Committee on Economic

Affairs (CCEA) on 27 January 2016 gave its
approval for the Hybrid Annuity Model as
one of the modes of delivery for
implementing the Highway Projects.
Under this model, the government will
provide 40 percent of the project cost to
the developer to start work while the

Indian lawyer and human rights defender

Henri Tiphagne on 26 January 2016 was
selected for the 8th Human Rights Award
by Amnesty International Germany.

2/1/2016

Downloaded from www.exampundit.in

15

Rodney George Laver honoured with the

Companion of the order of Australia on 26
January 2016 on the occasion of the
Australia Day.

CA Bits Jan, '16

India and the Asian Development Bank
(ADB) on Thursday signed an $80 million
loan agreement for improving the
infrastructure in the two North-Eastern
cities of Agartala and Aizawl, according to
a government statement.

Supreme Court appoints Justice Sanjay

Mishra as U.P. Lokayukta.
JS Deepak appointed as new Telecom
Secretary.
MasterCard CEO Ajay Banga has been
appointed as a co-chair of American India
Foundation (AIF), a nonprofit organisation
that is devoted to accelerating social and
economic change in India.

International Day of Commemoration in

memory of the victims of the Holocaust
observed.

Australian batsman David Warner on 27

January 2016 defeated captain Steve Smith
for the prestigious Allan Border Medal for
2016.

Ishika Shah won 12th Sub-Junior National

Snooker championship title.

Book Titled "Midnights Furies: The Deadly

Legacy of India's Partition" Wins 2016
William E Colby Award.

Government has marginally revised

downward the economic growth for 201415 to 7.2 per cent from the earlier estimate
of 7.3 per cent after factoring in latest data
on agriculture and industrial production.
Besides, the CSO also released second
revised estimates of the years 2011-12 to
2013-14 (with base year 2011-12.

2/1/2016

Sania Mirza and her Swiss partner Martina

Hingis on 29 January 2016 won the 2016
Australian Open title of tennis in the
womens doubles category.

India and Pakistan have extended their

agreement relating to rail communication
by mutual consent through diplomatic
channels for next three years.

Lt Governor of Puducherry AK Singh on 28

January 2016 launched the MITRA mobile
application to ensure safety and security
of women in the Union Territory. The app
was launched in the presence of the Chief
Minister N Rangasamy in Puducherry.

Gurdeep Singh appointed as CMD of NTPC.

The United Nations Children's Fund

(UNICEF) launched a 2.8 billion US dollar
appeal to reach 43 million children in
humanitarian emergencies worldwide on
26 January 2016. It included the 54.3 million
US dollar appeal to help conflict-affected
children in eastern Ukraine in 2016.

Downloaded from www.exampundit.in

16

India on 28 January 2016 test fired its

indigenously-built surface-to-air Akash
missile from complex-3 of the Integrated
Test Range (ITR).at Chandipuri in Odisha.

The second volume of memoirs of

President Pranab Mukherjee titled The
Turbulent Years 1980-1996 was released
on 28 January 2016 by Vice President
Hamid Ansari in function held at
Rashtrapati Bhavan in New Delhi.

Iran and Airbus on 28 January 2016 signed

two agreements covering new aircraft
orders and a comprehensive civil aviation
co-operation package. The agreement
includes purchase of 118 new Airbus
aircrafts.

Graham Ford Named Chief Coach of Sri

Lanka Ahead of India Tour.

Angelique Kerber upsets Serena Williams

6-4 3-6 6-4 to win the Australian Open title
on 30 January, ending the six-time
champion's unbeaten streak in finals and
winning a major title for the first time. Now
she's the first German woman to win the
title since Graf in 1994.

Vice Admiral Sunil Lanba, PVSM, AVSM,

will assume charge as Flag Officer
Commanding-in-Chief Western Naval
Command (FOC-in-C, West) on Sunday.
The Dharwad-headquartered Karnataka
Vikas Grameen Bank (KVGB) has set up a
separate cell for monitoring progress
under all the government-sponsored
schemes. Karnataka Vikas Grameen Bank
won the ASSOCHAM Social Banking
Excellence Award 2015 under the

2/1/2016

CA Bits Jan, '16

regional rural banks category in Mumbai
on Friday.
Air conditioning and refrigeration major
Blue Star Ltd said that its Board of Directors
has appointed Vir S Advani as Managing
Director.
Leslie Berland was on 26 January 2016
appointed as the Chief Marketing Officer
(CMO) of Twitter Inc.
Indo-Canadian Sikh Amrik Singh Ahluwalia
Elected Head of Canada's Peel Police, the
country's third largest municipal police
force
Prince Mahidol Award 2015 was conferred
upon Professor Morton Mower and Sir
Michael
Marmot
for
outstanding
achievements in medicine and public
health worldwide.
Former Army Chief General K V Krishna
Rao, who played a key role in the 1971
Bangladesh Liberation War, died. Rao also
served as the Governor of Jammu and
Kashmir at a time when militancy was at its
peak in the state.
Japan on 28 January 2016 unveiled
countrys first stealth fighter aircraft X-2.
World number one Novak Djokovic
hammered a misfiring Andy Murray in
straight sets to win a record-equalling sixth
Australian Open title and strengthen his
grip on men's tennis.
India on 31 January 2016 won the threematch T-20 series against Australia, 3-0. In
the third and final Twenty20 match played
in Sydney, India defeated Australia by seven
wickets.
Anti-Leprosy Day observed on 30 January
2016
Actor Manoj Joshi was conferred with the
'Chhatrapati Shivjai Maharaj Gaurav
Award'.

Downloaded from www.exampundit.in

17