General awareness is a very important aspect for MBA aspirants. This article is aimed at enhancing your awareness about the current news and happenings that occurred globally in this week (28th May to 3rd June). It will help you in your preparation for the competitive exams such as MAT, CMAT, NMAT, SNAP, IIFT, IRMA, FMS, XAT etc.
1. On 1 June 2016, the Union Cabinet approved setting up of the India Post Payments Bank (IPPB) as a Public Limited Company under the Department of Posts.
The Bank will have 100% Government of India (GOI) equity. India Post Payments Bank will be established at an expense of 800 crore rupees and rolled out in the entire country in a phased manner. The IPPB will obtain banking licence from RBI by March 2017 and by September 2017.
2. On 31 May 2016, Government of India and the World Bank signed a 9.2 million US dollar grant agreement under the World Bank-Global Environment Facility (GEF) Programme for the Efficient and Sustainable City Bus Service Project.
What is GEF?
Image Source: www.thegef.org
The project aims to improve the efficiency and attractiveness of bus services in select Indian cities.
The project will complement the Government of India’s Bus Funding Scheme launched to promote public transport by supporting cities to modernize their bus services. Demonstration cities where this initiatives will be undertaken are Maharashtra, Chandigarh, Jaipur, and Bhopal.
3. The Direct Tax Dispute Resolution Scheme 2016 came into effect on 1 June 2016. The scheme was incorporated as Chapter X of the Finance Act, 2016.
Procedure to file Declaration
1. On 1 June 2016, Prime Minister Narendra Modi released the National Disaster Management Plan (NDMP).
The NDMP aims to make India disaster resilient and reduce loss of lives. The Plan emphasizes on a greater need for Information, Education and Communication activities to prepare communities to cope with disasters.
The plan is based on the four priority themes of the Sendai Framework namely:
2. With effect from 31 May 2016, Union Government has approved the proposal of extending age of superannuation of all doctors of Central Health Services to 65 years with effect.
Ministry of Health and Family Welfare has put this proposal to strengthen the healthcare sector of India.
Benefits of this increase
3. On 30 May 2016, Union Women and Child Development Minister Maneka Gandhi released the Draft Trafficking of Persons (Prevention, Protection and Rehabilitation) Bill 2016.
The Bill seeks to create a comprehensive law against trafficking of persons and is victim oriented. It distinguishes between the trafficker and the trafficked. The Bill seeks to check human trafficking by unifying and plug loopholes in several existing laws like Indian Penal Code, 1860, Criminal Procedure Code, 1973 and Offenders Act, 1958.
Aim of the Bill
i. Penal provisions for the disclosure of identity of the victim of trafficking and witness
ii. Use of narcotic drug or psychotropic substance or alcohol for the purpose of trafficking
iii. Use of chemical substance or hormones for the purpose of exploitation
1. On 1 June 2016, the Union Cabinet gave its approval to sign of a Memorandum of Understanding (MoU) between India and Qatar for strengthening cooperation in the field of Tourism.
The main objectives of the MoU are:
2. On 1 June 2016, Switzerland inaugurated Gotthard Base Tunnel, world’s longest and deepest railway tunnel. The tunnel is also the first flat low-level route through the Alps. It took 17 years and 12.2 billion Swiss francs to construct the tunnel.
About Gotthard Base Tunnel
3. On 31 May 2016, India and Morocco launched the India-Morocco Chamber of Commerce and Industry (IMCCI) in Rabat, Morocco. The chamber was jointly launched by Moroccan Prime Minister Abdelilah Benkirane and visiting Vice President Hamid Ansari. The IMCCI has been launched to accelerate the pace of economic development between the two nations.
1. On 27 May 2016, Indian boxer Sonia Lather won the silver medal at the AIBA Women's World Championships in Astana. She reached the finals in the 57kg category, but was defeated by the gold medalist Mesiano Alessia of Italy by 2-1.
2. On 29 May 2016, National football team goalkeeper Gurpreet Singh Sandhu became the first Indian to play top-tier European football league match. He turned out for Norwegian side Stabaek FC in Norwegian Premier League (Tippeligaen).
3. On 29 May 2016, Asian Games discus throw gold medal winner Seema Punia (32-year old discus thrower from Haryana) qualified for the Rio Olympics with a 62.62m effort at the Pat Young's Throwers Classic 2016 at Salinas in the United States. Punia crossed the Rio Games qualification standard of 61.00m.
She defeated 2008 Olympic discus throw champion Stephanie Brown-Trafton of United States of America for the gold. This will be Punia’s third Olympic Games appearance. She took part in the games in 2004 and 2012.
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