Daily News Analysis for IAS / UPSC (23rd June, 2016)


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auction of 2300 MHz spectrum and Rs 10000 crore fund of FUNDS FOR STARTUPS

  • Aim:To connect rural areas with high-speed internet networks.
  • fund of Funds for Startups at Small Industries Development Bank of India for contribution to various Alternative Investment Funds
  • Eligibility:Startups should be registered with Securities and Exchange Board of India
  • Initial Corpus: 10,000 crore


Stamps on Yoga booklet

  • Andhra Pradesh Postal circle on behalf of the International Day of Yogareleased the nformation booklet for public and stamps on yoga for Philatelists.
  • Information booklet contained illustrations and description of 24 yoga asana (postures) while 12 stamps on Suryanamaskarams were released.
  • booklet contains four Commemorative stamps released in 1991 on various yoga postures including Bhujangasana, Dhanurasana, Ushtrasana and Utthita Trikonasan



2-day international conference on Yoga

  • Over 70 international delegates from 32 countries aretaking part in the Conference
  • Experts on the Yoga will broadly deliberate upon various themes suchas Yoga and Physical Wellbeing, Insights from Yoga Scholars, Integration of Yoga in Healthcare Delivery System, Yoga for Mental health, Yoga for Body and beyond.


Indian Yoga centre in China teams up with Peking University for research

  • Yoga centre founded by Indian Mohan Singh Bhandari andhis Chinese wife Yinyanhas been selected by China’s Peking University to conduct research in the ancient Indian exercise form.
  • MoU has been signed with the varsity in this regard, also This is first time a Chinese university has come forward to do research in Yoga.
  • The centre has over 20,000 students including those undergoing yoga teacher training. It actively take part in the yoga events being organised by Indian Embassy in Beijing.


Business and Economy

India fourth largest FDI recipient in Asia,

  • World Investment Reportstated that India is the fourth largest recipient of Foreign Direct Investment in Asia and ranked tenth Position in World.
  • involvement of India in Foreign Direct Investment is likely to reach USD 60 billionin 2016
  • Sources of Foreign Direct Investment:Singapore, Mauritius, the US, the Netherlands, Japan, Germany, the UK, China, Hong Kong and the United Arab Emirates, Singapore and Mauritius majority accounted for nearly 60% of total FDI


World Bank’s India Development Update – June 2016

  • World Bank releasedIndia Development Update report to earmark the Indian economy and its prospects for the financial year 2016.
  • Indian Economy was enhanced to a higher progressive way by demand from urban households and Public investments.
  • Health and education expenditures increasedin every state especially in Rajasthan and Kerala
  • Uttar Pradeshspent over one-third of its additional resources on health and education
  • India maintained 6 per centgrowth rate in 2016-17 and it will be expected that 7.7 per cent in 2017-18 and 7.8 per cent in 2018-19.


South India Bank launches Remit2India Service

  • Remit2India Service a secure online money transfer service for NRIs.
  • new Remit2India service makes arrangement facilitates faster, cost -effective remittance from the US to SIB accounts in India
  • this facility is available for remmittance from Europe, Australia, UAE and Singapore.


IWAI inks pact with IPGPL for 476 crore Kaladan Multimodal Transit Transport Project

  • MoU will pave the for the implementation of additional works on the Kaladan Multimodal Transit Transport Project(KMTTP) in Myanmar that bolster ties with Myanmar,
  • both parties agreed to implement three additional works on the KMTTPat the estimated to cost 476 crore rupee that are Container handling facilities at Paletwa and Sittwe,
  • Operation and Maintenance (OM) of the completed works and Removing wrecks in Sittwe Port basin area.


Oil India Ltd, Indian Oil Corporation and Bharat Petro Resources Ltd agreed to buy a 23.9% stake in Russian Company Rosneft’s Vankor project.

  • Indian Oil majors Oil India Ltd, Indian Oil Corp. and Bharat Petro ResourcesLtd decided to buy a 9% stake in Rosneft OJSC’s Vankor project
  • largest oil field to commence operation in Russia in the last two and half decades.
  • brings consortium’s purchase worth $2.1 billion whenplanned capital expenditures on the field are included.
  • Russia’s prime oil producer has been trading stakes in some assets to raise cash after oil prices collapsed amid aglobal supply glut.


People in News

Mahendra Singh Dhoni becomes brand ambassador of Exide Life Insurance

  • Cricketer will feature in the company’s marketing campaign Lamba saath, bharose Ki baat
  • his first endorsement deal in the insurance category.
  • Company based in Bengaluru is 100% owned by Exide IndustriesLimited that has achieved total Premium Income of over Rs 2,000 crore in the financial year 2015-16.


ITC chief Yogi Deveshwar to step down

  • to continue as a non-executive chairman for thenext three years.
  • Yogesh joined ITC in 1968and assumed office as Executive Chairman in 1996,
  • under his tenure the company also created several world class Indian brands in the FMCG market.


Vijay Mallya resigns as Chairman of Bayer CropScience

  • Mallya took charge as a Chairman of the Board in March 2004.
  • The Company said new chairman will be appointed at its next board meeting,
  • employs about 117,000 people and had sales of euro 46 billionin the last fiscal.


Anju Bobby George resigns as Kerala Sports Council President

  • Olympian Anju Bobby Georgehas decided to resignfrom the post of the president of the Kerala State Sports Council
  • Anju alleged that sports minister EP Jayarajan misbehavedtwo weeks ago when she went to meet him
  • She resigned from the post along with the othermembers of its Administrative Board, whichconsisting of the likes of volleyball player Tom Joseph and athlete Preeja Sreedharan
  • She took charge as the president of the state sports council before 6 months.


Renowned telengana poet and lyricist Guda Anjaiah passes away

  • Eminent Telangana poet and lyricist Guda Anjaiahhas passed away following a brief illness
  • Anjaiah played a vital role in Telangana movement,penning several songs that also found their way into films
  • His novel Polimera described the dark days of 1975 Emergency.
  • Anjanna was also well known for his songs Ooru manadi that was translated into multiple languages


Science and Technology

ISRO successfully launched record 20 satellites

  • successfully launched20 satellites in a single mission including Two Indian Universities Student Satellites and Four Foreign Countries.
  • Launching Vehicle:Polar Satellite Launch Vehicle (PSLV) C-34
    ♦ GHGSat-D – CANADA
    ♦ SkySat Gen2 – USA
    ♦ M3MSat – CANADA
    ♦ SWAYAM – College of Engineering, Pune, India
    ♦ SATHYABAMASAT – Sathyabama University


Kepler probe spots “K2-33b” youngest exoplanet ever

  • Youngest fully formed exoplanet which is5 to 10 million years old that make to understand how planets system form.
  • planet named K2-33b, is set to be larger than Neptune and whips tightly around its star every five days.
  • one of the very few newborn planets found.
  • Kepler Space Telescope found this new planet through its extended K2 mission,as well as the W M Keck Observatory on Mauna Kea in Hawaii.


Scientists develop ultra-thin flexible solar cells

  • ultra­thin photovoltaic cellsusing the semiconductor material, gallium arsenide.
  • photovoltaic cells is about 1 micrometre, thinner thanan average human hair, new flexible, ultra-thin photovoltaic cells developed by researchers in South Korea.
  • cells are much thinner than a human hair which range from to 10 to 200 micrometres in width, whereas standard photovoltaic cells can be 100 of times thicker.



BCCI Suspends Goa Cricket Officials

  • BCCI has suspended two senior Goa Cricket Association officials – Chetan Desai and Vinod Phadke for alleged misappropriation of over Rs 3 crore belongingto the organisation.
  • Goa Cricket Association President Desai and Phadke who is a secretary have also been slapped with showcause.


Dustin Johnson won the US Open golf tournament title

  • US Golfer Dustin Johnsonclinched his maiden Major golf title US Open
  • Johnson finished three shots infront of fellow Americans Jim Furyk and Scott Piercy and Irishman Shane Lowry.


Harika wins best women’s player in Kazakhstan Blitz

  • Harika Dronavalliwon the best womens player award in the Eurasian Blitz chess tournament in Kazakhstan. 
  • Indian master will get a cash prize of USD 2500 and 60 ELOpoints to regain her position in the top 10.
  • Harika had won the best womans prize at the Zalakaros International Chess Festival inHungary to jump to world number 9 in the classical rankings list.