Important Current Affairs 13th May 2016

3-Day Vichaar Mahakumbh Begins in Ujjain

• RSS Chief Mohan Bhagwat inaugurated the 3 day International conference- Vichaar Mahakumbh during Simhastha fair at Ujjain in Madhya Pradesh.
• It is an effort to discover the solutions to various national and global problems from the perspective of traditional values of life.
• Participants from all over the world will exchange the views on different aspects & challenges of sustainable development.

Uday Kotak in Forbes Most Powerful List

• Kotak Mahindra Bank Chief Uday Kotak is the sole Indian in Forbes’ list of 40 of the most powerful people in the financial world.
• Kotak is ranked 33rd in the Forbes list of Money Masters:The Most Powerful People In The Financial World.
• The list was was topped by Blackstone Group’s CEO Stephen Schwarzman.
• The candidates were judged on net worth,assets under management & influence on markets.

Rahman Joins Goodwill Ambassadors’ List

•  Music composer A R Rahman agreed to be the Goodwill Ambassador of the Indian Olympic contingent.
• He has become the fourth Goodwill Ambassador for Team India at the Rio Olympics.
• Tendulkar,Salman & Abhinav Bindra had earlier accepted the role offered by the Indian Olympic Association.
• This is the first time that the IOA are roping in celebrities from the various field to popularise the event.

India Sign Global Pact to Help Tax MNCs

• India has joined a global agreement for automatic exchange of country-by-country reporting.
• It will increase the flow of information about multinational companies across jurisdictions.
• Canada,Iceland,India,Israel,New Zealand & China signed the Multilateral Competent Authority agreement.
• The agreement allows all signatories to bilaterally & automatically exchange country-by-country reports.

Brazil President Dilma Suspended

• Brazilian President Dilma Rousseff was suspended to face impeachment,ceding power to her vice-president Michel Temer .
• Brazil’s Senate voted 55 to 22 to try President Dilma Rousseff on charges of manipulating the budget.
• The vote automatically suspends her from office.
• During trial proceedings two-thirds vote by the Senate would convict Rousseff & permanently remove her from the presidency.

West Indian Commentator Tony Cozier Dies

• Legendary West Indian commentator Tony Cozier has passed away.
• He was a most familiar voice to cricket audiences the world over as well as at home in the West Indies.
• He will be remembered for a career in TV, radio and journalism spanning 58 years.
• He was awarded honorary life membership of the Marylebone Cricket Club & the media centre at the Kensington Oval in Barbados is named after him.

Khatri, Babita Bag Olympic Berths

• Wrestlers Ravinder Khatri & Babita Kumari have secured Rio Olympic berths.
• Khatri was awarded the berth in the Greco-Roman 85 kg after Kenzheev Zhanarbek of Kyrgystan tested positive at the Asian Olympic qualifier.
• Babita also booked a ticket to Rio after Sumiya Erdenechimeg failed the test in 53kg freestyle division.
• The qualification of the two took India’s quota to Rio from Wrestling to eight.

Anti-Corruption Summit: London 2016

• British PM David Cameron has gathered world leaders in London to crack down on corruption.
• The Anti-Corruption Summit is seeking to galvanise a global response to tackle corruption.
• The meeting has drawn a wide array of politicians from around the world including the presidents of Afghanistan,Nigeria & Colombia.
• Cameron said Britain would take the lead in eliminating financial wrongdoing.

MCC Releases Laws of Cricket App

• Marylebone Cricket Club (MCC) has released the first ever Laws of Cricket app.
• MCC Laws of Cricket includes easily explanations of each law,new imagery & animations.
• MCC is the guardian of the laws & spirit of cricket,& all 42 laws of the game are explained within the app.
• The laws are categorised into 8 sections explaining everything from how to set up a game to appeals & modes of dismissals.

IAF Chief Raha Inaugurates eMMS in Pune

• Air Chief Marshal Arup Raha inaugurated the Electronic Maintenance Management System at the Pune air force station.
• The eMMS has been conceptualised to address the need of automating maintenance management process.
• The eMMS has been implemented simultaneously with two pilot projects.
• The benefits include real time pan IAF visibility, standardisation  & validation of maintenance processes.

RBI Issues Norms for Branch Offices

• The RBI said that entities from Pakistan,China, Bangladesh & four other regions will require its prior approval to establish branch office in India.
• Other countries and regions are Sri Lanka, Afghanistan, Iran & Hong Kong or Macau.
• RBI said while releasing guidelines for foreign entities to open a branch office (BO) or a liaison office (LO) or a project office (PO) in India.

Largest Cargo Plane Lands In Hyderabad

• The world’s largest cargo aircraft, Antonov AN -225 Mriya or the Dream,made its first landing in India at the Rajiv Gandhi International Airport in Hyderabad.
• The Ukraine-built aircraft is the longest & heaviest airplane ever built.
• It also has the largest wingspan of any aircraft in operational service.
• Specially built to undertake transcontinental route airlifting load between 180230 tonnes.