DAILY CURRENT AFFAIRS: 12 MAY 2016

DAILY CURRENT AFFAIRS: 12 MAY 2016

(Daily News India)

Shared By: WWW.DailyGk.IN

1. RBI TO ISSUE RS. 1000 BANKNOTES WITH INSERT LETTER 'R'

i.Reserve Bank Of India will be going to issue rupees 1,000 denomination bank notes in the Mahatma Gandhi Series of 2005 with the insert letter of 'R' in both the number panels.

ii. The banknotes will also have the other security features, including ascending size of numerals, bleed lines ,identification mark and the signature of RBI governer Dr. Raghuram G. Rajan.

iii. These banknotes will also have the year of printing '2016' printed on the reverse.

GOVERNOROF RESERVE BANK OF INDIA: RAGHURAM RAJAN

2. 100% FDI THROUGH AUTOMATIC ROUTE PERMITTED IN ASSET RECONSTRUCTION COMPANIES

i. The Union Ministry of Commerce & Industry has allowed 100 per cent foreign direct investment in asset reconstruction companies under the automatic route.

ii. Earlier FDI was allowed under automatic route up to 49 per cent

iii.Now it is approved upto 100 %.

iii. Foreign Institutional Investors and foreign portfolio investors have also been permitted to invest up to 100 %.

3. MRUGANK PARANJAPE TOOK CHARGE AS MD AND CEO OF MULTI COMMODITY EXCHANGE

i. Mrugank Paranjape  has been appointed as managing director  and chief executive officer of Multi Commodity Exchange country’s largest commodity exchange.

ii. He has been appointed for a period of 3 years.

4. MAY 11 OBSERVED AS NATIONAL TECHNOLOGY DAY

i. National Technology Day is being observed across India on May 11^th.

ii.The day is observed  to glorify the importance of science in day-to-day life and motivate students to adopt science as a career option.

iii.The  Themeof the day is ‘Technology enablers of Startup India’.

iv.The day is observed to celebrate the anniversary of first of the  Operation Shakti under which nuclear test was held on 11 May 1998 in Pokhran, Rajasthan.

5. RAJYA SABHA PASSES THE INSOLVENCY AND BANKRUPTCY CODE BILL 2016

i. The Rajya Sabha  passed the Insolvency and Bankruptcy Code Bill 2016.

ii.The bill will help in improving India’s ranking in the World Bank’s Ease of Doing Business index.

iii.The Bill is based on the recommendations of the Joint Parliamentary Committee on the Insolvency and Bankruptcy Code, 2015 .

iv.The committee is chaired by Bhupender Yadav.

v.Major Highlights of the Bill

a.    Insolvency resolution: The Code creates time-bound processes for insolvency resolution of companies and individuals.  These processes will be completed within 180 days. If insolvency cannot be resolved, the assets of the borrowers may be sold to repay creditors.

b.   Information Utilities: Information utilities will be established to collect, collate and disseminate financial information to facilitate insolvency resolution.

c.    NCLT: The National Company Law Tribunal will adjudicate insolvency resolution for companies.

d.   DRT: The Debt Recovery Tribunal will adjudicate insolvency resolution for individuals.

e.    Insolvency and Bankruptcy Board: The Insolvency and Bankruptcy Board of India will be set up to regulate functioning of IPs, IPAs and IUs.

6. INDIAN-AMERICAN REVATHI BALAKRISHNAN NAMED AS 2016 TEXAS ELEMENTARY TEACHER OF THE YEAR

i. Indian-American elementary teacher, Revathi Balakrishnan was honoured by US President Barack Obama at the White House.

ii. She was named as 2016 Texas Elementary Teacher of the Year.

iii.She received the honour for her excellent work in the field of education at Patsy Sommer Elementary School in Texas.

7. MP TOURISM WINS BEST INDIAN DESTINATION FOR WILDLIFE AWARD

i. Madhya Pradesh Tourism  received the Best Indian Destination for Wildlife Award from the Lonely Planet Group in Mumbai.

ii.Wildlife in Madhya Pradesh state has the total forest cover of M.P. is 24.79% of the land area.

iii. Madhya Pradesh has 25 wild life sanctuaries including nine National Parks.

iv. The state has also launched number of programmes for the conservation of flora and fauna.

v. Two national parks of Madhya pardesh  Kanha and Pench  were regarded as the most beautiful national parks in Asia.

CURRENT AFFAIRS GK QUIZ BASED ON TODAY’S NEWS

1. WHICH OF THE FOLLOWING LETTER IS INSERTED IN THE RS.1000 BANK NOTES?

a.M   

b.R  

c.S  

d.P

2. WHO HAS BEEN APPOINTED AS NEW MD AND CEO OF ‘MULTI COMMODITY EXCHANGE ‘?

a. Mrugank Paranjape 

b.T.S vijayan 

c.Bhupendra yadav

d.Raman thakur

3. NAME THE PERSON WHO HAS BEEN NAMED AS ‘2016 TEXAS ELEMENTARY TEACHER OF THE YEAR’?

a. Revathi Balakrishnan 

b.Manju bhatiya

c. Mukesh kumar

d.S.saharan

4. WHICH STATE HAS WON BEST ‘INDIAN DESTINATION FOR WILD LIFE AWARD’?

a.Punjab  

b.Madhya pardesh  

c.Uttar pardesh  

d.Gujrat

5. WHO IS THE PRESENT CHIEF MINISTER OF MADHYA PARDESH?

a.Akhilesh yadav

 b.Shivraj singh chouhan 

.Kailesh nath 

d.Jitendra Sharma

ANSWERS:

1.b       2.a      3.a      4.b      5.b