Daily GK Updates - 16th May 2015 Current Affairs

1. India, China sign 24 pacts
i) India and China signed a record 24 agreements in key areas on Friday, including in the rail and education sectors, on day two of Prime Minister Narendra Modi’s first visit to the communist neighbour.
ii) Protocol for setting up Consulates-General at Chengdu and Chennai, in addition to an MoU on a consultative mechanism for cooperation in trade negotiations, were among the 24 agreements signed in the presence of Modi and his Chinese counterpart Li Keqiang.

iii) An action plan between the Indian Railways and China National Railways on enhancing cooperation in the railway sector was also signed.
iv) Other key agreements are on developing China-India think tanks, maritime cooperation and ocean sciences. Four agreements were signed on sister-state and sister-city relations between Karnataka and Sichuan province; Chennai and Chongqing; Hyderabad and Qingdao; and Aurangabad and Dunhuang.
v) Agreements on an education exchange programme, on mining and minerals, skill development, tourism and vocational education also figured on the list.
2.  New Syndicate Bank chief
i) The government on Friday appointed Arun Shrivastava as Managing Director and Chief Executive Officer of Syndicate Bank, nearly nine months after the arrest of its CMD SK Jain in a graft case.
ii) Shrivastava was earlier Executive Director of Bank of India, looking after Finance, Strategy and Planning, Large Corporate and Mid Corporate Business, Corporate Debt Restructuring, Project Finance and Syndication, Credit Monitoring and Asset Recovery, Publicity and Public Relations portfolios of the bank.

3.  6th National Conference on Nuclear Energy held in New Delhi
i) 6th National Conference on Nuclear Energy was held in New Delhi on 15 May 2015.
 ii) This conference is unique in many ways as 2015 happens to be the year of diamond jubilee celebrations of the setting up of Bhabha Atomic Research Centre (BARC).
iii) The conference discussed the issue related to the status of Nuclear Energy in India. India is on course to double its nuclear power generation capacity to more than 10,000 mega watts (MW) over the next five years i.e. 2020.
iv) Nuclear power plants account for 3.5% of India’s current electricity generation, and its share in India’s future electricity generation will be less than 10% even if the installed capacity is tripled.
v) However, along with other sources of energy such as hydropower and solar-power, it will play a role in reducing India’s reliance on coal for generating electricity.

4.  M.J. Joseph appointed as controller general of accounts
i) The Centre has appointed M.J. Joseph as the Controller General of Accounts in the Finance Ministry.
ii) Prior to this appointment, Joseph was the Director General of the Bureau of Indian Standards.

5.  ISRO announced to commission MOTR in June 2015
i) The term Multi-Object Tracking Radar (MOTR) was in news on 15 May 2015 as the Indian Space Research Organisation (ISRO) announced its plans to commission the radar in June 2015.
ii) It has been entirely designed and built indigenously by the ISRO in collaboration with 22 private entities except the Radome, the dome structure which protects the radar antenna and related equipment from environment. Radome was imported from USA.

6. Juvenile Justice Bill 2014: Legal academia calls for ‘restorative’ justice
i) Legal academia and experts have called for re-examination of the Juvenile Justice Bill 2014, passed recently by the Lok Sabha, which allows the accused aged between 16 and 18 years to be tried under the Indian Penal Code, under which adult offenders are tried.
ii) Calling for ‘restorative’ justice instead of ‘punitive’ at a national consultation between lawyers, judges, bureaucrats, members of Parliament, child rights activists here, former Chief Justice of India, Altamas Kabir, said, “at one stroke the collective wisdom of the world community, garnered out of cautious research, has been wiped out…. Knee-jerk reactions do not make good law and can be counter productive in the future.”

7. Modi inaugurates ICICI Bank’s first branch in China
ICICI Bank, India's largest private sector bank has launched its first branch in China. The Shanghai branch was inaugurated by Prime Minister Narendra Modi.
ii) The initiative marks a significant milestone for the Bank's international operations. In March 2003, ICICI Bank had set-up a representative office in Shanghai to develop strong relationships with Chinese banks and corporates for their India linked banking needs.
iii) The representative office has been upgraded to a branch keeping in mind the rising trade volumes between India and China. With this branch, the Bank aims to provide greater support to Chinese and Indian corporates in their cross-border business interests.

8. Gagan Narang wins World Cup bronze, earns India quota for Rio Olympics

i. Gagan Narang won the bronze medal in the 50m Rifle Prone Event of the ISSF World Cup at Fort Benning in USA, earning himself a quota place for the 2016 Rio Olympics.
ii. Narang, who won the bronze in 10m Rifle at the London Olympics, shot 185.8 overall to secure third place behind gold medalist Michael McPhail (208.8 points) of USA and Ole Kristian Bryhn (206.3) of Norway.
iii. The other quota place from the event went to McPhail.
iv. Earlier in the competition, Narang and India's only individual Olympic gold medallist Abhinav Bindra, had failed to qualify for the 10m Rifle final.
v. Narang is third Indian shooter to make the Rio cut after Jitu Rai and Apurvi Chandela.

9. Egypt's ousted President Morsy sentenced to death
An Egyptian court has sentenced ousted President Mohammed Morsy to death.
ii) Judge Shaaban el-Shami referred his death sentence on Morsy and more than 20 others to the nation’s top Muslim theologian, or mufti, for his non-binding opinion.
iii) The ousted leader already is serving a 20-year sentence following his conviction on April 21 on charges linked to the killing of protesters outside a Cairo presidential palace in December 2012.


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