16 February 2016 Current Affairs

India Successfully test fired Prithvi-II

India Successfully test fired Prithvi-II missile from Chandipur of Odisha on 16 February 2016. It is a medium range missile capable of carrying 500 kg to 1000 kg of warheads and liquid propulsion twin engines. In the trail it strike at range of 350 km. It is the first missile to be developed by DRDO under India’s Integrated Guided Missile Development Program (IGMDP). It was introduced into Indian armed forces in 2003 before Prithvi-II was successfully test fired on 26 November 2015.

58th Annual Grammy Awards of 2016

The 58th Annual Grammy Awards distributed on 16 February 2016. Taylor Swift first women who won second Grammy award album of year 1989. The top awards are Edsheeran song of the year for Best Pop Solo Performance “Thinking Out Loud”, Mark Ronson Best Pop Duo/ Group Performance for Bruno Mars “Uptown Funk”, Mux Best Rock Album for his “Drones”, Alabama Shakes Best Alternative Music Album for his “Sound & Colour”, Angclique Kidjo Best World Music Album “Sings”, Skrillex and Diplo Best Dance/ Electronic Album for their “Skrillex and Diplo Present Jack U”, The Record of year for Bruno Mars, Best New Artist Meghan Trainor, Kendrik Lamar Best Pop Album for his to pimpa butterfly.

PF Interest Rate Raised to 8.8 % from 8.75%

The Labour Minister Bandaru Dattatreya announced an hiken interest rate on Employees’ Provident Fund (PF) to 8.8% for 2015-16 from 8.75% previous.

Central Government announced 0.25% cut in Interest Rate for short term deposits

The Central Government on 16 February 2016 announced 0.25% cut in interest rates for short term post office deposits and Kisan Vikas Patra (KVP) & it is not applicable for long term deposits like Monthly Income Scheme, PPF, Senior Citizen and Child Schemes. These new interest rates for small saving schemes will be applicable from April 1, 2016. The compounding of interest rates in case of 10 years National Saving certificate are discontinued since december 2015, five year National Saving Certificate and Kisan Vikas Patra will be done on annual basics from April they will no longer earn 0.25 percent higher interest than Government securities of similar tenures.

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