Current Affairs for IAS Exams - 15 June 2015

Current Affairs for IAS Exams – 15 June 2015

:: National ::

India Inc. CEOs sing for a cause

Eleven top executives of India Inc. came together and sang their favourite songs to raise funds for the treatment of critically ill children.
It was a Saturday evening of fun and music at the ITC Grand Central as Genesis Foundation brought together the CEOs for the 12th Edition of ‘CEOs Sing for GF Kids.’ Over 150 people came together to contribute to GF’s cause and, of course, to watch the otherwise serious CEOs take the stage by storm.
Genesis Foundation was established by Prema Sagar, principal and founder, Genesis Burston-Marsteller, to provide medical aid to critically ill children in the areas of cancer, cardiac disorder, post organ transplant, thalassemia and extreme deformities.
Eleven corporate head honchos sang foot-tapping numbers by Elvis Presley to Kishore Kumar. Dinesh Mirchandani, president India, Boyden Global Executive Search, who has been a part of this initiative six times, says, “You cannot stop talking about how wonderful this initiative is. If even one life can be saved it’s amazing.”
“I think today is an evening of having fun, with a solid cause,” said Vinit Store, CEO, Quadron Business Park
Y.M. Deosthalee, Chairman & MD, L&T Finance Holdings, who performed Mohd. Rafi and Manna Dey songs, was already looking forward to the next edition of the event. “All of us who are not professional singers are re-discovering our talent.”
“It’s a win-win for nearly everybody,” said Mehmood Curmally, MD, Rhythm House.
Since its inception, GF has supported nearly 650 children in need of medical aid and support. Proceeds from the fundraiser will be used for the treatment of eight critically ill children.

:: International ::

Colombo to launch scheme for widows

With reconciliation being high on its agenda, the Sri Lankan government has decided to launch an empowerment scheme for widows in the country and extend the implementation of a self-employment programme for former members of militant groups.
Of about 6.95 lakh widows in Sri Lanka, approximately 6.67 lakh belong to the age group of 40 years and above.
Even though exact details are not immediately available with regard to those who became widows in the wake of the 26-year-long armed conflict (1983-2009), a considerable number of the widows is said to be belonging to this category.
According to the 2012 Census, women are heading 23 per cent of 5.2 million households in the country. Their share in the overall population of about 20 million is around 51 per cent.

:: Business and Economy ::

SBI chief anticipates repo rate cut

There is the possibility of a decrease in the repo rate cut in the near future owing to multiple factors, State Bank of India (SBI) Chairman Arundhati Bhattacharya has said.
“Our in-house research indicates that there will be space for another rate cut. However, the Reserve Bank of India (RBI) could have a different view of the matter,” she told mediapersons on the eve of the 55{+t}{+h}Annual General Meeting (AGM) of the State Bank of Travancore (SBT).
The regulator had raised concerns over a deficient monsoon forecast and inflation. But, pre-monsoon rain had been better compared to the previous year, she said.
“In the wake of worrying predictions, we can only hope for a good monsoon. The timeliness and spread of rain will also be crucial.”
The chances of a rate cut were higher if the inflation did not go up as was being feared, she said.
To a question, she said banks under the State Bank group, which had Stressed Assets Management Group, had been tackling non-performing assets (NPAs) ‘fairly well.’ “With the downturn in the economy, we have seen a large amount of loans getting stressed. Hopefully, as the economy picks up, these loans will also start performing better. All necessary action in handling NPAs will be duly taken by the respective banks,” she said.

Cairn India set to merge into Vedanta in $2.3 billion deal (Register and Login to read Full News..)

:: Science and Technology ::

Ideas that make life easy, on show at IIT-Bombay

From a portable, foldable boat to low-cost toilets, an array of interesting ideas and designs by students of the Industrial Design Centre of the Indian Institute of Technology, Bombay, have been showcased at the Design Degree Show on the campus.
The five-day show, which began on Saturday, showcases 190 degree projects by 56 students of the centre across the broad themes of Craft and Culture; Access and Transportation; Health and Well- Being; Society and Analysis; Communication and Learning; and Working and Living India.
The portable boat by Tonmoy Phukan, 24, a second year student of Mobility and Vehicle Design, can ferry 16 people to safety during floods. “I was strongly motivated by the catastrophic effect of the floods in Assam in 2014. There are very limited ways to rescue victims, and there is no boat specially designed for flood rescue,” Mr. Phukan says.
He designed a stackable inflatable boat, Erawan , which can house a collapsible roof, lifejackets, pedals and first-aid kits.
Passengers are protected from floating debris and side impact. A ladder on the boat will help reach people on the higher floors, he says.
Trivikram Annamalai, 24, Industrial Design student, has come up with a device to detect veins easily for injections. “The thought of getting injected traumatises many, and when you have to undergo multiple attempts of needle insertions, it’s nightmarish.” Mr. Annamalai says.
The low-cost vein detector helps nurses visualise a vein and puncture it with ease. A prototype has been developed, and pilot-testing is in progress, he says.
Keerti Chowdhry, 25, an Animation and Film Design student, designed an animated dictionary for dyslexic children.
“Spellings and comprehension have always been arch-enemies of children who have learning disabilities. My project aims to help them with spellings, reading and comprehension by combining sight words and phonic system and creating new ways to learn,” she says.
The designs on show include an interactive kiosk, which employs face detection and delivers personalised advertisement, a light-weight foldable electric bike, and a water-fetching aid, which can hold vessels of multiple sizes.
Amita Sharma, Senior Consultant in Educational Consultants India Ltd., Union Human Resource Development Ministry, inaugurated the show.

:: Sports ::

Hulkenberg drives Porsche to victory

Porsche broke Audi’s five-race stranglehold at the Le Mans 24 Hours race, with Nico Hulkenberg becoming the first active F1 driver to win here since Britain’s Johnny Herbert in 1991.
The German, driving the No.19 works Porsche he shared with New Zealand’s Earl Bamber and Briton Nick Tandy, took the chequered flag ahead of the No.17 Porsche of Aussie Mark Webber, New Zealand’s Brendon Hartley and Germany’s Timo Bernhard.
Audi’s defending champions Andre Lotterer, Benoit Treluyer and Marcel Faessler completed the podium places.