Daily Current Affairs – 6 August 2016


— Current Affairs : 6 Aug 2016 —

Daily | Current Affair Updates | 7-Minute-Read | By-Raksha | PDF Version

A complete dose of current affairs for the whole day. Categories listed are given as below:



– Odisha government launches new website of state Home department

  • The Odisha government has launched a new website of the state Home department to enable the differently-abled persons to see and hear the website.
  • Chief Minister Naveen Patnaik today inaugurated the bilingual website with accessibility guidelines.
  • The portal facilitates access to all directorates or departments along with various citizen services like Secretariat Pass, Tracking the Missing Child, Reservation of Odisha Bhawan, Crime and Criminal Tracking Network & Systems and other such services. The portal also has a women and employee corner.

– Maharashtra Govt. to provide as many as 1,200 wi-fi hotspots in Mumbai

  • As part of transforming Mumbai into a Smart City, Maharashtra government will provide as many as 1,200 wi-fi hotspots in the megapolis.
  • Chief Minister Devendra Fadnavis Friday said this during a debate on issues related to urban development in the state Assembly.
  • He said that this was another important step after the CCTV project towards making Mumbai a Smart City.
  • Of the total of 1,200 hotspots, 500 will be operational in the first phase by November 2016.
  • Talking about other Mumbai-related issues, he said the municipal corporation will treat all the sewage water before it flows into the sea. Mr Fadnavis said that a project to generate electricity from the waste was being set up.

– Govt introduces employees’ compensation bill in Lok Sabha

  • A bill seeking to raise the cap on disputed amount of compensation for appeal in high courts was introduced in the Lok Sabha on Friday.
  • Labour minister Bandaru Dattatreya introduced the Employees’ Compensation (Amendment) Bill, 2016, in the lower house of Parliament.
  • Section 30 of the Employees’ Compensation Act, 1923, provides for appeal in high courts whenever the disputed amount (of compensation) is more than Rs.300.
  • The bill seeks to raise this to Rs.10,000, which may be further increased through a notification later.

– Ravi Shankar Prasad today inaugurates town hall to mark two year of citizen engagement portal MyGov.in

  • Union Communications and IT Minister Ravi Shankar Prasad today inaugurated town hall in New Delhi to mark the two year of citizen engagement portal MyGov.in. Speaking on the occasion, Mr Prasad said My Gov has 35.2 lakh registered members.
  • The minister said achievements of ordinary people of the country must be given positive space in the My Gov platform.
  • Prime Minister Narendra Modi will address the function in evening. the portal was launched by the Prime Minister in July 2014 to provide opportunity to the people to participate in multiple theme based discussions and share their thoughts.

– Centre directs NDRF to expand its Search and Rescue Operations in Maharashtra’s Raigad District

  • In Maharashtra, rescuers this morning resumed search operations for remaining 16 missing passengers from the vehicles fallen in the Savitri River at Mahad on Tuesday night.
  • Twenty boats and nearly 160 personnel from Coast Guard, NDRF and Navy are engaged in the search operations.
  • Local administration Friday published final list of 38 passengers feared drowned as hopes for survivors faded.
  • Satish Bagal, Resident Deputy Collector of Raigad district said eight more bodies from different locations in the river were recovered and the toll has now gone up to 22, of these17 are males and five females.



– India welcomes Morocco’s initiative to re-join African Union

  • India has welcomed Morocco’s initiative to re-join the African Union which it had left 32 years ago.
  • MEA spokesperson Vikas Swarup said in New Delhi that India hopes that Morocco’s re-joining the African Union will strengthen Africa’s unity and allow the grouping to play a constructive role in the affairs of its member countries.
  • He said India has always stood for African unity and that India’s invitation to all 54 countries of the African continent to the third India-African Forum Summit was an affirmation of this policy.

– Japan marks the 71st anniversary of US atomic bombing of Hiroshima today

  • Japan marked the 71st anniversary of the US atomic bombing of Hiroshima today as its Mayor urged world leaders to follow in US President Barack Obama’s footsteps and visit, and ultimately rid the world of nuclear arms.
  • A peace bell tolled the time a US warplane dropped the bomb. About 50,000 participants including aging survivors and dignitaries held a moment of silence at a memorial ceremony in the western Japanese city.



– SEBI proposes new framework for algo trading, co-location

  • To stop inequitable trading access to the exchanges, markets regulator Sebi on Friday proposed a new framework for super-fast algorithmic trading and co-location facility, including by suggesting ‘speed bumps’ and separate queues for algo and non-algo trades.
  • Algorithmic trading or ‘algo’ in market parlance refers to orders generated at a super-fast speed by use of advanced mathematical models that involve automated execution of trade, while co-location involves setting up servers on the exchange premises.



– Govt sets inflation target at 4%

  • Just days ahead of the Reserve Bank of India’s bi-monthly monetary policy review, which will be Raghuram Rajan’s last as Governor, the Finance Ministry has notified an inflation target of 4 per cent with a range of 2 per cent for the next five years.
  • Rajan has all along been a strident advocate of inflation targeting. With this notification, the Centre has also moved ahead with its plans for the new Monetary Policy Framework.
  • The inflation target is a part of the Monetary Policy Framework agreement between the Finance Ministry and the Reserve Bank of India signed in January last year.

– Forex reserves hit all time high at $365.49 billion

  • Country’s foreign exchange reserves rose by $ 2.81 billion to reach a all time high of $ 365.49 billion in the week to July 29, helped by rise in foreign currency assets, the Reserve Bank has said.
  • In the previous week, the reserves had dropped by $ 664 million to $ 362.69 billion.
  • Foreign currency assets (FCAs), a major component of the overall reserves, rose $ 2.79 billion to $ 341.04 billion in the reporting week, as per RBI data.
  • FCAs, expressed in dollar terms, include the effect of appreciation/depreciation of non-US currencies such as euro, pound and yen held in the reserves.

– S&P Global affirms ‘BBB-’ long-term rating on ICICI

  • International credit rating agency S&P Global Ratings has affirmed its ‘BBB-‘ long-term rating and ‘A-3’ short-term rating on ICICI Bank, citing the bank’s strong business position and good business diversity as some of the key drivers.
  • Speaking about the affirmation, S&P Global Ratings credit analyst Amit Pandey said that despite ICICI Bank’s weakening asset quality, the lender is satisfactorily capitalised and funded.
  • He, however, pointed out that the private sector lender’s standalone credit profile has been lowered to ‘bbb-‘ from ‘bbb’ eariler. “This reflects our view that the bank’s asset quality will remain under pressure over the next 12 months.
  • We have therefore revised our assessment of ICICI Bank’s risk position to moderate from adequate,” Pandey said.



– CARE Ratings names Mokashi MD

  • The Board of Directors of Credit Analysis and Research Ltd (CARE Ratings) has appointed Rajesh Mokashi as the Managing Director & CEO of the company, subject to approval at the ensuing Annual General Meeting, with effect from 22nd August 2016.
  • Mr Mokashi, who has been with the company since inception in 1993 has over 30 years experience and worked with Otis Elevator Company India Ltd, DSP Financial Consultants and Kotak Mahindra Finance Ltd before joining CARE.

– Anand Sinha to replace Vinod Rai on IDFC Bank board

  • Private sector lender IDFC Bank has appointed former Reserve Bank of India deputy governor Anand Sinha on its board as an independent director.
  • He will replace former Comptroller and Auditor General (CAG) Vinod Rai & was appointed with effect from Aug 1.
  • Mr Rai was appointed as the Chairman of the Banks Board Bureau.
  • IDFC had received approval from RBI to start operations as a bank in April 2014.



– China successfully launches first satellite for mobile telecommunication

  • China successfully launched the first satellite for mobile telecommunication early this morning.
  • The Tiantong-01 satellite was launched at 00:22 a.m. Beijing Time, at southwestern China’s Xichang Satellite Launch Center, with the Long March-3B carrier rocket.
  • It is the first satellite of China’s home made satellite mobile telecom system, and a key part of the country’s space information infrastructure.
  • It will establish a mobile network with ground facilities, providing services for China, the Middle East, Africa and other areas.



– France will not host European Road Cycling Championships

  • The French city of Nice says it will not host the European Road Cycling Championships, planned for 14th to 18th September, for security reasons.
  • Mayor Philippe Pradal said the event required a large police presence, but the southern city had not received any guarantees about their deployment.
  • It is the latest event in France to be called off after July’s lorry attack in Nice in which 85 people died.

– IOA announces cash award of 50 lakh rupees for gold medal winning athlete in Rio Olympics

  • Indian Olympic Association, IOA, has announced a cash award of 50 lakh rupees for the gold medal winning athlete in the Rio Olympics.
  • IOA President N Ramachandran and Secretary General Rajeev Mehta, announced in Rio de Janeiro that the national Olympic body for the first time will award 50 lakh rupees for a gold medal, 30 lakh rupees for silver and 20 lakh rupees for bronze.
  • In addition, the coaches will be awarded an equivalent of 50 per cent of the amount that the athletes receive.
  • Meanwhile, Indian Railways has also announced a cash award of one crore rupees for its athlete who wins a gold medal at the Rio Olympics.

– Olympics 2016 opens with a glittering ceremony in Rio De Janerio, with the theme Peace and Environment

  • The 31st Summer Olympic Games opened in the Brazilian city of Rio de Janeiro, a short while ago, with a low-tech but vibrant opening ceremony at the Maracana Stadium.
  • Acting Brazil President Michel Temer declared the Games open as fireworks lit up the night sky signalling the launch of the biggest sporting spectacle.
  • The Olympic torch is yet to be lit. Our correspondent reports that the ceremony witnessed the hosts unfurl a vision of its vast rainforest and the creative energy of its diverse population.


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