DAILY GK -- MAY 2016 -- 351 TO 400 bankersadda thanks

351. Minister of Railways Shri Suresh Prabhakar Prabhu inaugurated five new activities

i. Union Railway Minister, Shri Suresh Prabhakar Prabhu inaugurated five new project namely - New AC Weekly Express train between H. Nizamuddin-Pune, - Expansion of VIKALP Scheme of Alternate Train Reservation to Delhi-Howrah, Delhi- Chennai, Delhi-Mumbai and Delhi-Secunderabad Circuits ,- Pilot Project of Sale of Unreserved Tickets through Hand Held Terminals, -Launching of Ergonomically Redesigned & Optimised Tools for Track Gangs, Keymen & Patrolmen, -Pilot Project for Improving Safety at Unmanned Level Crossing.  

ii. Minister of Railways Shri Suresh Prabhakar Prabhu inaugurated following activities through video conferencing from Mumbai.  

iii. Simultaneously, there was a parallel ceremony at H. Nizamuddin Railway Station where Dr. Harsh Vardhan, Union Minister of Science and Technology & Earth Sciences and Minister of State for Railways Shri Manoj Sinha were specially present to grace the occasion. 

352. World First Humanitarian Summit held at Istanbul, Turkey

i. The first-ever World Humanitarian Summit was held in Istanbul from 23 to 24th May since World War II. 

ii. The summit was inaugurated by the UN Secretary-General Ban Ki-moon and hosted by Turkey’s President Recep Tayyip Erdogan, and attended by world leaders of UN member states, including German Chancellor Angela Merkel. 

iii. The purpose of summit were - World leaders to be committed to improving the humanitarian responses to crises. preventing and ending conflict, respecting the rules of war, addressing forced displacement, achieving gender equality, responding to climate change, ending the need for aid,  and investing in humanity.

353. Mahindra incorporates Trringo as wholly-owned subsidiary

i. The Indian Multinational automobile giant, Mahindra & Mahindra (M&M) has stated that it has incorporated its agricultural equipment rental services arm Trringo.com as a wholly-owned subsidiary. 

ii. The tractor and farm equipment rental business company, Trringo is incorporated as a wholly-owned subsidiary of M&M with an initial subscription of 50,000 shares of Rs 10 each aggregating Rs 5 lakh.

iii. The Trringo.com was incorporated on May 23 as a franchise-based model using new-age digital technology which will initially operate in India only. The Trringo platform will be use as a proprietary digital platform which enabler to process orders and pass them on to the nearest franchisee through location-based mapping. 

354. BHEL commissions 800 mw thermal unit in Karnataka

i. State run Bharat Heavy Electricals Ltd (BHEL) has successfully commissioned the first 800 MW super critical thermal unit in Karnataka. This is the highest rating unit in the state. 

ii. The unit has been commissioned at the 2x800 MW Yeramarus thermal power station (TPS) located in Raichur district of Karnataka.

iii. Yeramarus TPS is being developed by Raichur Power Corporation Ltd (RPCL). RPCL is a joint venture of Karnataka Power Corporation Ltd (KPCL) and BHEL. The second unit of this project is also in an advanced stage of construction and is expected to be commissioned shortly. 

355. Freecharge names Kunal Shah as chairman, and Govind Rajan as CEO

i. Snapdeal-controlled digital payments platform FreeCharge has named Kunal Shah as chairman, and Govind Rajan as Chief Executive Officer. 

ii. Presently, Rajan is currently the chief operating officer while Shah is the Co-founder and CEO. 

iii. FreeCharge was founded in 2010 by Kunal Shah and Sandeep Tandon and was acquired by Snapdeal in April 2015. While, Rajan joined the company in 2015 as COO.

356. US engineer Frances Arnold wins Millennium Technology Prize

i. US biochemical engineer, Frances Arnold has won the Millennium Technology Prize for her work 'directed evolution' in Finland. 

ii. Directed evolution is a method of rewriting DNA to improve medicines and develop green fuels. 

iii. With this Arnold has become the first female winner in its 12 year of history and awarded with the 1 million euro prize. The award was presented by the Technology Academy Finland. 

357. Newly elected AIADMK MLA 'S.M. Seenivel' passes away

i. SM Seenivel, a newly elected MLA of the All India Anna Dravida Munnetra Kazhagam (AIADMK) in the new Tamil Nadu Assembly has passed away in a private hospital in Bibikulam in Madurai. He was suffered a stroke a week ago. 

ii. He was 65 year old and elected as MLA from Thiruparankundram constituency in Madurai in the 16th May election.

iii. He was the secretary of Panchayat Union in Thiruparankundram from 1980 to 2005. He was also the chairman of Thirupankundram Housing Board Association from 2001 to 2006. Mr. Seenivel had already served as an MLA of Thiruparankundram constituency when AIADMK was in power between 2001-06. This time in May election, he has defeated the rival Dravida Munnetra Kazhagam (DMK) candidate M. Manimaran by a margin of 22,992 votes.

358. Pink Panther star, Burt Kwouk has passed away

i. Mr. Burt Kwouk, who was best known for playing Inspector Clouseau's manservant Cato in the Pink Panther films. He was 85 year old. 

ii. He appeared in seven Pink Panther films between 1964 and 1993, opposite Peter Sellers as Clouseau's servant who regularly attacked his employer to keep him alert.

iii. He also starred in BBC sitcom Last of the Summer Wine from 2002 to 2010. The actor, who was born in Warrington, England but raised in Shanghai, was awarded an Order of Britsh Empire in the 2011 New Year Honours List.

359. Govt approves Capital Goods Policy, aims 21 million new jobs by 2025

i. The Union Cabinet chaired by the Prime Minister Narendra Modi has approved the first ever policy for the country's capital goods sector envisaging creation of over 21 million new jobs by 2025. 

ii. The objectives of the National Capital Goods Policy are to create an ecosystem for a globally competitive capital goods sector to achieve total production in excess of Rs 7.5 lakh crore by 2025 from the current Rs 2.3 lakh crore, and also to raise direct to increase direct domestic employment from the current 1.4 million to at least 5 million and indirect employment from the current 7 million to 25 million by 2025, thus providing additional employment to over 21 million people.

iii. The policy envisages increasing exports from the current 27 % to 40 % of production. It will also help increase the share of domestic production in India’s demand from 60 % to 80 % thus making India a net exporter of capital goods. 

iv. The policy envisions increasing the share of capital goods in total manufacturing activity from 12 % at present to 20 % by 2025. 

v. To create an ecosystem for globally, the Policy will help realizing the vision of Building India as the World class hub for Capital Goods. It will also play a pivotal role in overall manufacturing as the pillar of strength to the vision of Make in India.

360. EPFO doubles insurance for subscribers to Rs 6 lakh

i. The Government has enforced the decision of retirement fund body EPFO to almost double the maximum sum assured under its insurance scheme from 3.6 lakh to Rs 6 lakh for its 4 crore subscribers.

ii. Earlier in September, the Employee Provident Fund Organisation’s apex decision making body Central Board of Trustees (CBT) had decided to increase benefits under the Employees’ Deposit Linked Insurance (EDLI) scheme from Rs 3.6 lakh to Rs 6 lakh. 

iii. However, the notification to amend the scheme could not be issued by Labour Ministry as it was stuck in the Law Ministry.

361. Govt waives over Rs 9,000-cr loans of HFCL

i. The Union Cabinet has waived off loans worth more than Rs 9,079 crore owed by Hindustan Fertilizer Corporation Ltd (HFCL) as part of a financial restructuring package for the PSU. 

ii. Earlier in 2015, the Cabinet approved waiver of government of Rs 1,916.14 crore and the outstanding interest amount of Rs 7,163.35 crore have remained. 

iii. So now with the waiving off that outstanding amount, HFCL will facilitate de-registration from Board for Industrial and Financial Reconstruction (BIFR) by making its net worth positive. It will clear the way for faster revival of Barauni unit of HFCL. This unit will create 400 direct and 1,200 indirect employment opportunities.The Cabinet has also approved the transfer of 56 acres of ash dyke land of Barauni unit to Bihar State Power Generation Company Ltd (BSPGCL) to settle dues of HFCL for faster revival of the unit. 

362. Cabinet gives ex-post facto approval to the MOU between India and Maldives

i. The Union Cabinet chaired by Prime Minister Narendra Modi has granted ex-post facto approval to the Memorandum of Understanding signed between the Ministry of Tourism, Government of India and the Ministry of Tourism, Government of Maldives for strengthening cooperation in the field of tourism.

ii. The Memorandum of Understanding with Maldives will be instrumental in increasing arrival from this important source market. In recent years, Maldives has emerged as an important tourism generating market for India. 

iii. The main objectives of the Memorandum of Understanding, are -

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 and to promote safe honorable and sustainable tourism.

363. Cabinet gives ex-post facto approval to the MOU between India and Japan

i. The Union Cabinet chaired by PM Modi has given ex-post facto approval to the MoU between Indian and Japan for promoting sustainable, stable and low-carbon thermal power development in India. 

ii. The MoU will help India to address issues and barriers in promoting sustainable stable and low-carbon thermal power development.

iii. The agreement will also support Clean Coal Technology (CCT) for thermal power plants such as Ultra Super Critical (USC) and other environmental technologies. It will also explore possibilities for acquisition of carbon credits with bilateral or multilateral offset schemes that are anticipated to be materialized in the future as a result of low-carbon power development.

364. HRD Ministry launches portal

i. The Ministry of Human Resource Development has announced the launch of a multilingual knowledge portal www.bharatavani.in. 

ii. It aims to not only ensure universalisation of education but also creation of a knowledge society in the digital age. 

iii. The idea behind the initiative is protection, preservation and inclusion of all Indian languages through technological development without discrimination. The Central Institute of Indian Languages (CIIL), Mysuru, is implementing the project. The portal has been launched in 22 scheduled languages, which eventually will be extended to 100 more languages.

365. Union Cabinet gives approval to 6 new IITs

i. The Union Cabinet has given its approval to amend The Institutes of Technology (IIT) Act, 1961 for incorporation of 6 new IITs. 

ii. This amendment will declare these 6 IITs as the institutions of national importance Six new IITs will come up at: Tirupati (Andhra Pradesh), Palakkad (Kerala), Dharwar (Karnataka), Bhilai (Chhattisgarh), Goa, Jammu (Jammu and Kashmir). 

iii. Besides, Union Cabinet also gave its approval to convert of Indian School of Mines (ISM), Dhanbad into an IIT under the ambit of the IIT Act, 1961. 

366. Union Cabinet approves MoU between ISRO and United Arab Emirates Space Agency

i. 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. 

ii. Decision in this regard was taken by Union Cabinet meeting chaired by the Prime Minister Narendra Modi in New Delhi. 

iii. 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. 

367. Union Cabinet gives ex-post facto approval to Amendments in Constitution (Scheduled Tribes) Order, 1950

i. Union Cabinet chaired by Prime Minister Narendra Modi has given the ex-post facto approval to the amendments in the Constitution (Schedule Tribes) Order, 1950.

ii. The approval was given to modify the list of Scheduled Tribes in respect of five States, namely, Assam, Chhattisgarh, Jharkhand, Tamil Nadu, Tripura. Besides, it also seeks to identify new communities in the Union Territory of Puducherry.

iii. After the Bill becomes an Act, members of the communities included in the list of Scheduled Tribes will be able to derive benefits meant for Scheduled Tribes under the existing schemes.

368. Union Road Transport Minister Gadkari launches safety feature-rich Nirbhaya buses

i. 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.

ii. 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.

iii. 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.

369. Draft rules of Juvenile Justice Act 2015 released

i. Women and Child Development Minister Maneka Gandhi has released draft model rules to repeal the existing rules for effective implementation of Juvenile Justice Act. The rules take care of the development needs of children and child friendly procedures are incorporated in it. 

ii. According to the draft rules 2016, no child between 16 and 18 years of age in conflict with law will be handcuffed or sent to jail or lock-up. The rule said, proper medical and legal aid will be provided to juvenile criminals and their parents and guardians will be duly informed. 

iii. Every state government is required to set up at least one place of safety for the rehabilitation of such children. The rules prescribe for extensive services to be provided through regular monitoring. 

iv. Several new offences against children have also been included in the Act such as sale and procurement of children for any purpose, corporal punishment in child care institutions, use of child by militant or adult groups, giving children intoxicating liquor or narcotic drug or psychotropic substance or tobacco products. It also prescribes detailed procedures for determination of age. 

370. Cabinet clears Railway projects worth Rs 11,000 crore

i. The Cabinet Committee on Economic Affairs, CCEA has given its approval for Railway projects worth Rs 11,000 crore. 

ii. These include Bina-Katni 3rd line project at an estimated cost of nearly 2,500 crore in Madhya Pradesh. 

iii. The 279 km long railway line is expected to be completed in five years. Another project is Vizianagaram and Titlagarh 3rd line project, costing nearly 2,335 crore. The length will be 265 kilometre and will be completed in 5 years. It also included doubling of Surendranagar-Rajkot project, Pune-Miraj-Londa railway line and Roza -Sitapur Cantt.- Burhwal Broad Gauge single line. 

371. Dial 139 for wait-listed ticket cancellation

i. Railway passengers can now cancel their wait-listed and RAC (reservation against cancellation) train tickets by just dialing 139. 

ii. The service was launched by Railway Minister Suresh Prabhu in New Delhi. Earlier only confirmed ticket holders could cancel their tickets through 139 service and IRCTC website.

iii. Online cancellation through 139 will be permitted only 4 hours before the scheduled departure of the train in case of confirmed tickets and upto half an hour before the scheduled departure of the train in case of RAC and wait-listed tickets. Besides, the option of cancellation of tickets at the counter is also available for passengers.

372. ISRO to test Air-breathing Propulsion System

i. 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). 

ii. The testing of air-breathing propulsion system aims to capitalize on the oxygen in the atmosphere instead of liquefied oxygen while in flight. 

iii. 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. 

373. Gujarat CM launches Ujala scheme from Vadodara

i. Gujarat Chief Minister Anandiben Patel has launched Ujala scheme in Vadodara to distribute LED bulbs to the people . 

ii. Under this central scheme, the state government will distribute more than one crore LED bulbs at subsidized rates of Rs 80 to 85 per piece. The bulb will have 3-year replacement warranty. It will be of 7 to 8 watts capacity with luminosity of 900 lumens. 

iii. Each household will get maximum ten bulbs in the first phase. The amount will be charged through electricity bill in ten equal installments. Bulbs will be available at the offices of power distribution companies, bill cash counters and Energy Efficiency Services Limited (EESL) kiosks. The state government will purchase the bulbs from EESL for distribution among the public.

374. Telangana govt signs MoU with Eclat Health Solutions

i. 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. 

ii. A state government team led by IT Minister K T Rama Rao which is currently touring the US signed the MoU. 

iii. The team also signed another agreement with Genesis Pharmaceuticals Chairman Monif Matouk, and Safye Holdings CEO Afi Hasan. 

375. Islamic banking to debut in Gujarat

i. Saudi Arabia based Islamic Development Bank (IDB) has announced to open its first branch in India at Ahmedabad, Gujarat. 

ii. 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. 

iii. IDB's main objective is to foster the economic development and social progress of member countries as well as the Muslim community in accordance with principles of Shariah (Islamic law). The bank has 56 Islamic countries as its members and as part of the MoU a 100 million dollar line-of-credit was to be given to facilitate exports to IDB's member countries. Besides, it also announced to provide 30 medical vans as part of IDB’s social sector initiatives. 

376. World leaders kick off G7 talks with economy in focus

i. The World leaders begin two days of G7 talks in Japan with the deteriorating global economy, terrorism and refugees crisis, China's controversial maritime claims, and a possible Brexit headlining on top the agenda. 

ii. Heads of state and government from the United States, Britain, France, Germany, Italy, Canada and host Japan are meeting in Ise Shima, a mountainous, sparsely populated area about 300 kilometres (200 miles) southwest of Tokyo.

iii. The group, including US President Barack Obama, Britain's David Cameron, France's Francois Hollande and Germany's Angela Merkel. However, the meeting will also be joined by Italy's Matteo Renzi, Canada's Justin Trudeau and host Japan's Shinzo Abe.

377. Aditya Birla Fashion buys India rights of Forever 21

i. Aditya Birla Fashion and Retail Ltd (ABFRL), a retail arm of Aditya Birla Group has acquired the rights for California, US, based fashion retailer Forever 21 to acquire its India business from its current franchisee, Diana Retail Private Ltd, for an unspecified amount. 

ii. With the help of this acquisition, ABFRL will further strength its leadership position in the branded fashion market.

iii. The deal includes the online and offline rights of Forever 21 for the Indian market and its existing store network in the country. The partnership of Forever 21 and ABFRL will help establish Forever 21 as one of the largest women wear brand in the country. 

378. Mirza, Bopanna and Paes win at French Open

i. The Indian contingent got off to a winning start at the French Open. 

ii. Sania Mirza and Martina Hingis defeated the Russian pair of Daria Kasatkina and Alexandra Panova, 7-6(4), 6-2. 

iii. Rohan Bopanna and Florin Mergea defeated Frenchmen Stephane Robert and Alexandre Sidorenko, 6-2, 6-2. Leander Paes and Marcin Matkowski overcame Aliaksandr Bury and Denis Istomin, 7-6(3), 7-6(6).

379. Govt approves over Rs 5500 Cr investment to improve infrastructure in six states

i. The Centre has approved an investment of over 5500 crore rupees for basic urban infrastructure in six states under Atal Mission. 

ii. The States are Madhya Pradesh,Gujarat, Rajasthan,Odisha, Jharkhand and Meghalaya. The decision was taken by the Apex committee of Urban Development Ministry under Atal Mission for Rejuvenation and Urban Transformation, AMRUT in New Delhi. With this now the total investment approved so far under Atal Mission has gone up to over Rs 26,000 crore involving a central assistance of over 12 thousand crore rupees.

iii. An official release said, the investment will be made for providing household water taps, improving water supply, sewerage networks, urban transport and provision of open and green spaces in one hundred eleven Atal Mission cities of these states. The Apex Committee also approved the release of central assistance of 520 crore rupees for the Jawaharlal Nehru National Urban Renewal Mission, JNNURM scheme.

380. 1st bullet train to run in India in 2023: Prabhu

i. According to the Union Railway Minister, Suresh Prabhu, the first bullet train will run in India in 2023, and its work is on track. 

ii. The train will connect Mumbai and Ahmedabad and is expected to cover 508 km in about two hours, running at a maximum speed of 350 kmph. 

iii. The high-speed​ rail corridor will have a 21 kilometre-long under-sea tunnel.

381. I&B Min frames guidelines for online govt ads

i. The Information and Broadcasting (I&B) Ministry has framed policy guidelines for central government advertisements on websites. 

ii. All online ads from the Centre would now be routed via the Directorate of Advertising and Visual Publicity (DAVP), which would empanel eligible websites. 

iii. Further, DAVP will fix the rates of advertisements and would also be responsible for their strategic placement.

382. India’s growth to rise to 8 percent in FY2019: Fitch

i. According to the US based global rating agency, Fitch, India's economic growth rate will leisurely 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. 

ii. Fitch also 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.

iii. As the global agency, the passage of the Bankruptcy Code earlier this month showed that implementation of big ticket reforms is possible in India, even though reforms related to land acquisition and a Goods and Services Tax have not passed thus far. It also expects higher disposable income to contribute to faster GDP growth. As per Fitch estimates, India remains the fastest growing country across the world with GDP in 2016 estimated to grow at 7.55% year on year compared to global GDP which is likely to grow at 2.5%. 

383. Mamata Banerjee takes oath for second successive term as West Bengal CM

i. Trinamool Congress (TMC) chief Mamata Banerjee (61) has taken oath as the Chief Minister of West Bengal for the second consecutive five-year term. The oath taking ceremony, held at the iconic Red Road, was administered by Governor Keshri Nath Tripathi.

ii. Winning 211 seats out of the total 294, TMC became the first single party to win the seats without alliance in West Bengal's history. Now the 42-member ministry, of them 18 are new faces, has seven ministers from the minority community. Ms Banerjee is among the four women representatives in the ministry.

iii. In 2011, Banerjee had become the first ever female CM of the state.

384. Centre approves Rs 4241 cr NIMZ in Odisha

i. The Centre has approved establishment of a National Investment and Manufacturing Zone (NIMZ) in Odisha. As per, Petroleum and Natural Gas Minister Dharmendra Pradhan, the Union ministry of commerce and industry has approved the Rs 4,241 crore project to come up at Kalinganagar industrial area in Jajpur district of Odisha. 

ii. Disclosing the information, Mr Pradhan said the first phase of the project with an estimated cost of Rs 3,816 crore will be completed by 2020. 

iii. The project will create job opportunities for around 1.5 lakh people and will help Odisha grow as a manufacturing hub and help Paradip port's growth, the oil minister said. This is the third Investment and Manufacturing Zone of India involving a massive area of 163 square kilometers.

385. BrahMos supersonic cruise missile test-fired

i. The Indian Air Force (IAF) has successfully test-fired an advanced version of BrahMos land-attack supersonic cruise missile system. 

ii. As per officials, Test-fired held at the Pokhran field firing range in Rajasthan's Jaisalmer district, the missile hit and annihilated the designated target.

iii. BrahMos, the first supersonic cruise missile known to be in service, is a joint venture between India and Russia. Both the countries have agreed in principle to export BrahMos, the world’s fastest anti-ship cruise missile, to the UAE, Vietnam, South Africa and Chile.

386. Indian Coast Guard Ship ARUSH Commissioned

i. The Indian Coast Guard ship ‘Arush’, the 17th in the series of twenty Fast Patrol Vessels (FPVs), designed and built by M/s Cochin Shipyard Limited, has commissioned at Kochi by the Coast Guard Commander (Western Seaboard) Additional Director General SPS Basra.

ii. The Indian Coast Guard will be a 150 ships/boats and 100 aircraft maritime force in next few years. In addition to these operational assets, a coastal surveillance network is being established with 46 stations to ensure real-time coastal surveillance. 

iii. The 50-meter indigenous FPV displaces 421 tonnes and can achieve a maximum speed of 33 knots with an endurance of 1500 nautical miles at economical speed of 13 knots, equipped with state-of-the-art weaponry and advanced communication and navigational equipment.

387. Cabinet approves the takeover of HSCL by NBCC

i. The Union Cabinet chaired by the Prime Minister Narendra Modi has approved the takeover of Hindustan Steel Works Construction Limited (HSCL) by National Buildings Construction Corporation Ltd (NBCC) for financial restructuring of HSCL. 

ii. The decision will benefit in economies of scale for NBCC and would assist in better manpower utilization. The main feature of HSCL financial restructuring includes,- the existing paid up equity capital of the HSCL is 117.1 crore rupees but under the proposal of Union government, the equity and paid up capital of HSCL will become 34.3 crore rupees. 

iii. However, the takeover of HSCL by NBCC will infuse fund of 35.7 crore rupees as equity into HSCL. Than, HSCL will become subsidiary of NBCC with NBCC holding 51 percent equity holding. The shareholding of Government of India in HSCL will be reduced to 49 %.

388. HDFC among world's top 10 consumer financial services company

i. The mortgage lender HDFC ltd has been ranked among the world's top ten biggest and most powerful companies in the consumer financial services sector on a Forbes list. 

ii. The list is topped by global major American Express while HDFC ranked 7th. It is the only Indian company in top ten under this category.

iii. In the overall list of the world's 2,000 largest and most powerful public companies compiled by Forbes, HDFC is ranked 404th while it is at tenth position among Indian firms. There are total 56 Indian companies on the list, in which Reliance Industries ranked highest. It is at 121st place globally. Out of 56 companies, 22 public sector lenders have been named in the regional banks category led by State Bank of India which was ranked 149 on the list.

389. Google cleared of infringement in Oracle lawsuit over Java

i. Google has won a major US court battle with software firm Oracle after a jury ruled it did not unfairly appropriate parts of the Java programming language. 

ii. Oracle had argued that Google had infringed its copyright and had sought nearly 9 billion dollars in damages. 

iii. The outcome was eagerly awaited by software developers who feared that a victory for Oracle might encourage more such legal actions. The company says it will appeal against the decision. Google uses Java in its Android smartphone operating system which powers about 80 per cent of the world's mobile devices.

390. China signs deals with Sudan to build 600 mw atomic reactor

i. China has signed agreements with Sudan to build 600-megawatt atomic reactor. It was the first of its kind in the African country. 

ii. The agreements were signed during a three day visit to Sudan by a Chinese delegation led by Nur Bekri, head of the National Energy Administration (NEA) and deputy director of the National Development and Reform Commission (NDRC).

iii. The state-owned China National Nuclear Corp (CNNC) has been signed two frame work deals with Sudan on nuclear power development, including building a 600-megawatt atomic reactor. As per Chinese media, the other agreements may involve a blueprint for nuclear power development in the next year for Sudan and building the first nuclear power station in the country. 

391. Indian-American Rishi Nair wins 28th annual National Geographic Bee Competition

i. A 12 year old, Indian American student Rishi Nair has won the prestigious National Geographic Bee competition 2016. He is a sixth grader from Florida, took top honors at the 28th annual National Geographic Bee held at the National Geographic headquarters in Washington DC.

ii. As National Geographic Bee champion, Nair received a $50,000 college scholarship and a lifetime membership in the National Geographic Society. He also wins a trip to Alaska and Glacier Bay National Park. 

iii. In the competition, 7 of the 10 finalists were Indian-Americans. This is the fifth consecutive year that an Indian-American has won the prestigious national tournament. Last year Karan Menon had won the competition.

392. Guinea Bissau President names Baciro Dja as Prime Minister

i. Two weeks after sacking his entire government, Guinea Bissau President Jose Mario Vaz named Baciro Dja as the new Prime Minister of the west African country. 

ii. Mr. Baciro Dja succeeded Carlos Correia, who was sacked earlier this month in a move that threatened to deepen political turmoil in the tiny West African nation.

iii. The appointment of Dja's announced by the President is condemned by the ruling African Party for the Independence of Guinea and Cape Verde (PAIGC). It said, it would not support Dja, who held the same post briefly last year but was forced to resign when the supreme court ruled that the appointment was made without consulting all political parties and was therefore unconstitutional.

393. Veteran Communist leader KC Mathew passes away

i. Veteran communist leader KC Mathew has passed away in Kochi. He was ailing and undergoing treatment for nearly a month. He was 92 year old. 

ii. He was the prime accused in the attack on the Edappally police station in February 1950, which resulted in a witch-hunt of the communists by the police.

iii. He was born in North Paravur, Kerala in 1924 and graduated from UC College in Aluva and was drawn to the communist ideals right from the college days. He was known as a true Communist, who never compromised on the fundamental principles of Communism. 

394. Noted Marathi literary critic R G Jadhav has passed away

i. R G Jadhav, a noted Marathi critic and litterateur has passed away at his residence in Mumbai following prolonged illness. He was 83 year old. 

ii. He was born on August 24, 1932, at Vadodara in Gujarat but served as a professor of Marathi literature in various colleges, including one in Amravati, Elphinstone College in Mumbai, and also at Milind College in Aurangabad. 

iii. He had also worked with Marathi Vishwakosha as a chief editor from 2000 to 2002. Besides, he was also associated with Sadhana Trust. He was the recipient of many awards, and penned more than 45 books. 

395. Sunil Bharti Mittal receives this year's Harvard Alumni award

i. Founder and chairman of Bharti Enterprises, Mr. Sunil Bharti Mittal has received this year’s Harvard Business School Alumni Achievement Award. 

ii. The Harvard Business School Alumni Achievement Award, presented annually since 1968. It is the highest honour to its alumni who have contributed significantly to their companies and communities while upholding the highest standards and values.

iii. Sunil Mittal is a member of several premier international bodies, which includes- First Vice-Chairman of the International Chamber of Commerce (ICC), and also serves in the Prime Minister of India’s Council on Trade & Industry. He is a recipient of many awards which includes, the Padma Bhushan. 

396. Sonia settles for silver after losing World C'ship final

i. Indian boxer Sonia Lather has settled for a silver medal at the AIBA Women's World Championships in 57 kg category. 

ii. In a hard-fought summit clash at Astana, Kazakhstan, today, Sonia lost 1-2, to top seed Alessia Mesiano of Italy.

iii. 24-year old Sonia's Silver ensured that India did not return empty-handed after what was a thoroughly disappointing campaign overall.

397. Para athlete Saroha wins gold in record breaking performance

i. Indian para athlete Amit Kumar Saroha from Haryana won the gold medal in men's club throw (F-51) at the recently concluded 2016 French Open Athletics Championship in Paris. 

ii. Arjuna Awardee Amit's effort of 26.58 meter broke the Asian record which he had himself set at last year's World Championships in Doha on way to winning a silver. Amit has already qualified for the 2016 Rio Paralympics scheduled to be held this September. 

iii. The French Open Athletics Championship was part of his preparation for Rio 2016, for which he is one of India's biggest medal prospects.

398. Bangar appointed India coach for Zimbabwe tour and Abhay Sharma to be fielding coach

i. Coach of IPL franchise Kings XI Punjab Sanjay Bangar has been appointed India's head coach for the team's tour to Zimbabwe. 

ii. Bangar had previously worked as India's assistant coach till the World T20 under team director Ravi Shastri. India will play three T20s and three ODIs in Zimbabwe, starting on June 11.

iii. While Abhay Sharma has been named fielding coach for Indian Cricket team for the upcoming series against Zimbabwe. 

399. Lakshadweep becomes the first Union Territory to sign 24x7 ‘Power for All’ document

i. Lakshadweep became first Union Territory (UT) to sign 24x7 Power for All document. The representative of Government of India and the Administration of Lakshadweep signed the document in presence of Shri P.K. Pujari, Secretary, Ministry of Power.

ii. The document chalks out a plan to increase solar capacity of the region from 2.15 MW to 8.45 MW. At present, 10 inhabited islands of Lakshadweep are being fed by diesel mostly. The plan also envisions reduction of AT & C losses from current level of 21% to 6.7% till 2019 by increasing the collection efficiency up to 99 %.

iii. The Government of India have taken a joint initiative with respective State Governments for preparation of State specific documents for providing 24x7 power supply to all households /homes, industrial & commercial consumers and adequate supply of power to Agricultural consumers as per state policy. As on date, because of the joint efforts of State Governments and Government of India, 22 States have already signed the '24x7 Power For All' Documents.

400. New committee to swipe towards cashless society

i. From past couple of month, the GOI and RBI have been working on how to reduce cash transactions in the economy. For this, they have formed a committee of 7 members which is chaired by a ministry official, Neeraj Kumar Gupta. 

ii. The committee is working on maximize the acceptance of card payments. This will require more of point-of-sales (PoS) machines. As per RBI data at end-March shows 24.5 million credit cards and 661.8 million debit cards in the country, compared to 1.3 million PoS terminals. 

iii. Last year also a committee was formed on the same issue. So the new panel will also work on the suggestions of the past panel which include reducing the interchange fee charged on credit cards and bringing these at par with debit cards. The committee is also working at ways in which card payers needn’t to pay a surcharge for fuel, utility bills and railway bookings.