GK and Current Affairs Updates

Sajjan Jindal-led JSW Energy on 4th May 2016 announced to acquire Jindal Steel and Power Ltd's 1,000MW power plant in Raigarh, Chhattisgarh for Rs 6,500 crore.
•    The deal was inked between both the firms on 3rd May, is expected to be completed by June 30, 2018.
•    The enterprise value of the deal is Rs 4,000 crore.
•    It will be increased to Rs 6,500 crore.
•    The transaction also contemplates payment of an interest bearing advance of Rs 500 crore pursuant to the receipt of approvals from the shareholders of JSW Energy and JSPL and the fair trade regulator CCI, it added.
•    JSPL board has approved to divest the 1,000MW power unit of its subsidiary Jindal Power Ltd (JPL) into a special purpose vehicle (SPV).
•    JPL, a subsidiary of JSPL, has a 4x250 MW plant in Raigarh and a 2,400 MW thermal plant in Tamnar, Chhattisgarh.

On 4 May 2016 The European Central Bank (ECB) announced to permanently stop producing the 500 euro banknote by the end of 2018.
•    500 euro banknote, like the other denominations of euro banknotes, will always retain its value and can be exchanged at the national central banks of the Euro system.
•    On 20 April 2010, money exchange offices in the United Kingdom stopped selling 500 euro notes because of money laundering.
•    The five hundred euro note is the highest-value euro banknote.
•    It is one of the highest value circulating banknotes in the world, worth around 558 USD, 3634 Chinese Yuan, 62700 Japanese Yen, 544 Swiss Franc or 395 Pound sterling.
•    The note is used in the 23 countries.
•    It is the largest note measuring 160 × 82 mm and has a purple colour scheme.
•    The five hundred euro note contains several security features such as watermarks, invisible ink, holograms and microprinting.

On 2 May 2016 US Navy tested the world's largest unmanned surface vessel named Sea Hunter in San Diego.
•    It is a self-driving 132-foot ship able to travel up to 10000 nautical miles.
•    It is designed to travel thousands of miles out at sea without a single crew member on board.
•    The Pentagon's research arm, the Defense Advanced Research Projects Agency (Darpa) developed the ship with Virginia-based Leidos.
•    The ship is powered by two diesel engines.
•    It is a 132ft-long (40-metre) unarmed prototype ship.
•    The ship underwent two years of testing which includes verifying that it can safely follow international norms for operating at sea.
•    It is the naval equivalent of Google's self-driving car.
•    It marks the first step toward sending unmanned cargo vessels between countries, according to military officials, who showed off the ship in San Diego today before it was put in the water.
•    The Pentagon's research arm, the Defense Advanced Research Projects Agency (Darpa) developed the ship along with Virginia-based Leidos. 
•    Darpa will test it in conjunction with the Navy over the next two years off California's coast. 
•    The tests will largely focus on its ability to react on its own to avoid collisions with seafaring traffic.
•    During the testing phase, the ship will have human operators as a safety net, but once it proves to be reliable, the autonomous surface vessel will maneuver itself — able to go out at sea for months at a time.

On 1 May 2016 Indian PM launched the Pradhan Mantri Ujjwala Yojana (PMUY) at Ballia, Uttar Pradesh.
•    The scheme aims to provide cooking gas connections to five crore BPL beneficiaries over.
•    LPG spread predominantly in Urban and Semi Urban Areas 
•    But the rural poor have limited access to Clean fuel (LPG).
•    Use of fossil fuels and conventional fuel like cow dung are having serious health implications for women and Children.
•    According to WHO,5 Lakhs die every year due to heart disease, pulmonary diseases etc.
•    5 crore LPG connections will be provided to BPL families with 1600 rupees.
•    Connections will be given in the name of Women.
•    EMI Facility for meeting the cost of Stove and Refill cost.
•    Pradhan Mantri Ujjwala Yojana is an ambitious social welfare scheme of Narendra Modi Government. 
•    Under the PM Ujjwala Yojana, the government aims to provide free LPG connections to BPL households in the country. 
•    The scheme is aimed at replacing the unclean cooking fuels mostly used in the rural India with the clean and more efficient LPG (Liquefied Petroleum Gas).

On 4 May 2016  Union Cabinet approved the signing of Memorandum of Co-operation between Ministry of Women & Child Development (MWCD) and Bill & Melinda Gates Foundation (BMGF).
•    The MoC will be signed for the cooperation in Information and Communication Technology Enabled Real Time Monitoring of Integrated Child Development Services (ICDS).
•    The MoC will cover 162 high malnutrition burden districts of eight states. 
•    Andhra Pradesh, Bihar, Chhattisgarh, Jharkhand, Maharashtra, Madhya Pradesh, Rajasthan and Uttar Pradesh are those 8 states.
•    The phase-I of ISSNIP will roll out ICT-RTM through one Lakh Anganwadi Centers (AWCs) in 162 high burden districts of eight participating States.
•    Technical support at the national and state level for strengthening their capacities to deliver nutrition especially during pre-conception, pregnancy and first two years of life.
•    The Common Application Software (CAS) will be developed by the BMGF with support of their partners. 
•    It will be made available to the Ministry free of cost along with its Source Code for hosting by MWCD with NIC.

On 4 May 2016 Piyush Goyal, launched ‘Contract Labour Payment Management System’
•    It is a new portal of Coal India Limited (CIL).
•    This will help the government to curb problems like corruption and exploitation of contractual workers by contractors.
•    It has been planned to make payment to the contractors only after submitting a system generated declaration of compliance.
•    It is an integrated system for all subsidiaries of CIL.
•    The in-house developed application will maintain a comprehensive database of all contract workers in CIL and all its subsidiaries.
•    The portal will be managed by the Central Mine Planning and Development Institute (CMPDI), Ranchi.
•    The system has in-built mechanism to validate minimum wages paid, generate wage slips and employment card.
•    It provides access to all contract workers, through a Workers Identification Number (WIN)
•    It will allow contract workers to register their grievance.
•    The Nodal Officer at different locations in the company will monitor the process.
•    This will enhance proper monitoring of legal compliances under Contract Labour (Regulation & Abolition) Act.

On 3 May 2016 Future Group's CEO KishoreBiyani was appointed as Managing Director (MD) of Bharti Retail. 
•    Biyani on 1 May 2016 had resigned from Future Retail Ltd
•    Future Retail Ltd is the largest listed retail companies, which operates Big Bazaar and Food Bazaar. 
•    He will continue to hold office as non-executive director of Future Retail Ltd.
•    Rakesh Biyani, who has also been appointed as Joint Managing Director of Bharti Retail.
•    In May 2015, Future Group had agreed to merge its retail business with Bharti Retail in an all-stock deal worth 750 crore rupees to create one of the biggest supermarket chains with 15000 crore rupees turnover.
•    Bharti Retail is a wholly owned subsidiary of Bharti Enterprises.
•    Bharti Retail operates a chain of multiple format stores.
•    Future Group owns and operates Big Bazaar, combined retail operations with Easyday in May 2015. 
•    This collaboration has made it India's biggest retail chains with more than 570 stores in 243 cities in India.

On 1 May 2016 Dilip Tuli was appointed the new Senior Vice President - Strategy & New Business Initiatives of Housing.com.
•    Dilip Tuli graduated from the SRCC, Delhi University.
•    He holds nearly 15 years of consulting experience.
•    He was a Director with the Deal Advisory practice in KPMG.
•    He started his career at PwC.
•    Housing.com is a Mumbai-based real estate search portal.
•    It allows customers to search for housing based on geography, number of rooms, and various other filters.
•    The company has 6000 brokers and serves 40 cities in India .
•    A group of twelve students from the Indian Institute of Technology, Bombay founded Housing.co.in in June 2012.
•    It is the fastest-growing company in the online real estate space.
•    It is led by passionate problem-solvers and backed by top investors.

Manohar Kumar has taken over as Director (Engineering) on the Board of National Projects Construction Corporation Limited (NPCC). 
•    He is a graduate from the then Delhi College of Engineering.
•    He later did MBA from MDU, Rohtak.
•    NPCC is a PSU under Ministry Water Resources, River Development and Ganga Rejuvenation. 
•    National Projects Construction Corporation Limited (NPCC) was established on 9th January 1957 as a premier construction company to create necessary infrastructure for economic development of the country in the core sectors of irrigation and water resources, power and heavy industries. 
•    Its administrative control was transferred from Ministry of Irrigation and Power to Ministry Water Resources, River Development and Ganga Rejuvenation (earlier named as Ministry of Water Resources) in 1989. 
NPCC ltd comply with Quality management requirements of ISO 9001-2008 for execution of Civil Works for Thermal & Hydro Electric Projects’, River Valley Projects, Industrial Structures, Project Management Consultancy services for buildings, Housings, Roads, Bridges and Infrastructure Projects. 

On 5 May 2016 Goa Shipyard Limited (GSL), launched Indian Coast Guard Ship (ICGS) Shaurya at Vasco. 
This 105-metre new generation OPV that was launched by the Governor of Goa, Mridula Sinha will be delivered to the Coast Guard after sea trials are completed. 
•    The vessel is capable of cruising at a speed of 23 knots and has a range of 6000 nautical miles.
•    It will be fitted with state-of-the-art machinery like the integrated machinery control system and integrated bridge system.
•    The vessel carries four boats for boarding party operations.
•    One 30 mm gun and two 12.7 mm guns associated with fire control system form the main weaponry package.
•    The indigenously designed ship is capable of search and rescue operations, pollution control and external firefighting.
GSL chairman and managing director Shekhar Mital said that all the six ships would be delivered to the Coast Guard by 2017.