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Current Affairs for 13 February 2016
February 13, 2016
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IN 5 YEARS, BLACK MONEY DETECTION UP 15.5 TIMES

1.The nationwide crackdown on black money has meant a steady increase in detection of undisclosed income, which has jumped 15.5 times over the past five years.

2.A comprehensive report of the Director General of Income Tax (Intelligence and Criminal Investigation) accessed by The Hindu shows more and more prominent business houses, including diamond traders, steel magnates and the country’s leading pharma companies coming under the taxmen’s scanner. National undisclosed income jumped from just Rs. 5,894 crore in financial year 2011 to Rs. 90,391 crore in 2014. The undisclosed income detected in 2012 was Rs. 6,573 crore and Rs. 19,337 crore in 2013.

3.The data for 2015 has not been fully collated but the number stood at Rs. 1,900 crore in the first couple of months of the financial year, tax officials said.


 

BCCI BANS PAKISTANI UMPIRE ASAD RAUF FOR 5 YEARS OVER CORRUPTION CHARGES

1.The Board of Cricket for Control in India (BCCI) on Friday banned Pakistani umpire Asad Rauf for five years for violating board’s Anti-Corruption Code.

2.The decision was taken by the board’s disciplinary committee which met at the BCCI HQ, Cricket Centre, Mumbai.

3.BCCI bans Pakistan umpire Asad Rauf, formerly on ICC Elite Panel, for 5 yrs for role in 2013 IPL spot-fixing case.

4.Rauf was accused by Mumbai Police of being involved in fixing-related activities during IPL 2013, in a separate case not featuring S Sreesanth and two others.


 

GOVT NOD FOR FTIL MERGER WITH NSEL

1.The ministry of corporate affairs (MCA) on Friday ordered a merger between Financial Technologies India Ltd (FTIL) and its unit National Spot Exchange Ltd (NSEL), making FTIL responsible for the liabilities of the fraud-hit commodities bourse.

2.It’s the first time that the government is forcing a merger between two private entities, using a provision of the Companies Act that allows it do so in public interest.

3.FTIL, controlled by entrepreneur Jignesh Shah, immediately said it will challenge the order in the Bombay high court.

4.FTIL owns 99.99% of NSEL, on which trading was suspended after a Rs.5,574.35 crore fraud at the latter came to light in July 2013.


 

LUPIN CEO GUPTA GETS EY ENTREPRENEUR AWARD

1.Vinita Gupta, Chief Executive Officer, and Nilesh Gupta, Managing Director, Lupin Ltd. have been chosen the EY Entrepreneur Of The Year 2015.

2.F. C. Kohli, former Vice-Chairman of Tata Consultancy Services (TCS), has been honoured with the Lifetime Achievement Award for his pioneering contribution towards the Indian software industry and nation-building.

3.Ms. Vinita and Mr. Nilesh Gupta will now represent India at the EY World Entrepreneur of the Year Award (WEOY) in Monte Carlo from 7-12 June 2016.


 

RAMESH ABHISHEK TO BE NEXT INDUSTRY SECRETARY

1.The government has appointed 1982 batch Bihar cadre IAS officer Ramesh Abhishek as the next Secretary to the Department of Industrial Policy and Promotion (DIPP) in the Commerce and Industry Ministry that spearheads the Make In India and Startup India programmes. Present secretary Amitabh Kant is due to retire on February 29 and Mr. Abhishek, who is presently posted in the cabinet secretariat as Secretary (Performance Management), would be joining the industry department with immediate effect as an officer on special duty till Mr. Kant’s tenure is complete.


 

SYRIA WAR PAUSE PLAN AGREED BY WORLD POWERS

1.World powers have agreed to seek a nationwide “cessation of hostilities” in Syria to begin in a week’s time, after talks in Munich, Germany.

2.The halt will not apply to the battle against jihadist groups Islamic State (IS) and al-Nusra Front.

3.The 17-member International Syria Support Group (ISSG) also agreed to accelerate and expand aid deliveries.

4.The announcement comes as the Syrian army, backed by Russian air strikes, advances in Aleppo province.

5.The move threatens to encircle tens of thousands of civilians in rebel-held parts of the major city of Aleppo.


 

TITANIC’S REPLICA TO SET SAIL IN 2018

1.More than a century after the original Titanic ship infamously sank on its maiden voyage in the North Atlantic Ocean, a fully-functioning replica of the gigantic vessel will set sail in 2018.

2.Built at a cost of £300 million (Rs. 2,960 crore) by an Australian billionaire Clive Palmer and his company Blue Star Line, Titanic II will be 270 metres long, 53 metres high and weigh 40,000 tonnes.

3.Unlike the original, the new ship will be four metres wider to meet 21st century safety regulations and have enough lifeboats, along with marine evacuation systems — besides a boat deck housing replicas of the original lifeboats.

4.Titanic II’s maiden voyage will not be from Southampton to New York, like the original ship, but from Jiangsu in eastern China to Dubai.


 

INDIAN-ORIGIN SCIENTIST DEVELOPS SMART CHIP FOR WIRELESS NEURAL IMPLANTS

1.An Indian-origin scientist has developed a smart chip that can be paired with neural implants for efficient wireless transmission of brain signals — thus alleviating the debilitating symptoms of Parkinson’s disease or give paraplegic people the ability to move prosthetic limbs.

2.According to assistant professor Arindam Basu from Nanyang Technological University, Singapore (NTU Singapore), the research team has tested the chip on data recorded from animal models which showed that it could decode the brain’s signal to the hand and fingers with 95% accuracy.