Current Affairs Update 15-16 May 2017

Current Affairs Update 15-16 May 2017

NATIONAL:

• The Union Government has revised the base year of Wholesale Price Index (WPI) and Index of Industrial Production(IIP)to 2011-2012 from 2004-05.According to this April WPI inflation was standing at 3.85 percent and March IIP at 2.7 percent.The Consumer Price Index based inflation in April stood at 2.99 percent.

• As per the recently released Public Affairs Index 2017 Kerala has topped the list where as Bihar stood at last position in the list.

• India and UK have signed a MoU in the urban transport sector for cooperation in the policy planning,technology transfer and institutional organisation.Union Minister for Road Transport,Highways and Shipping was on a three day visit finalised the cooperation arrangement between 'India's Ministry of Road Transport and Highways' and 'Transport for London'.

• Telengana hosted the first outreach program of Union Ministry of External affairs 'Videsh Sampark' to engage the state government in creating awareness about various programmes of the Ministry and Minister of state for external affairs Gen.V.K.Singh had inaugurated the program.Telengana also become the first state in the country in ahich the pilot 'e-sanad'project for online attestation of documents was rolled out.

• IIT Kharagpur has tied up with 'British geological Survey' in order to turn Varanasi into a smart city.3D Geological modeling of the geology under  Varanasi is going to be prepared to help improve the building of new transport and service infrastructure .It would be the first major 3D subsurface study and planning in the country.

• Govardhan Eco Village set up by ISKCON in Thane district of Maharashtra has won the 'Smart village' award for being the sustainable project in the rural Maharashtra.The award 'Smart Village 'has been conferred by India trade Promotion Organisation(ITPO).  

• India moved to 26th spot in Global Electricity Accessibility ranking by World bank's ease of Doing Business index 2016.The compounded annual growth of electricity prices stood at 3.27% in 2014-16.  

INTERNATIONAL NEWS:

• International Day of Families has been observed across the globe on 15 May.This year's theme was 'Families,education and well-being'.

• Mahmoud Abbas, the President of Palestine has come to India on 4 day visit in India.This visit is his third visit to India. 

FINANCIAL NEWS:

• The Reserve bank of india has given a direction to cease the UCO Bank's lending and branch expansion plans as the PSB made net losses for two successive fiscal years amid severe stress in stress quality.Recently RBI has initiated 'Prompt Corrective Action' framework in which UCO bank has faced the consequences.

SPORTS:

• Rafael Nadal has won his fifth Madrid Open by beating Dominic Thiem in the final by 7-6,6-4.

• India has completed the Asian Wrestling Chamionship in good note .In the final day Wrestler Sunil bagged silver medal in 125 kg category.India has won 1 Gold,5 Silver and 4 Bronze in total in this continental event.