22 June 2016 Current Affairs

Union Cabinet Approves MoU between India and Germany

The Union Cabinet on 22 June approved signing of a Memorandum of Understanding (MoU) with Steinbeis GmbH Co. KG, Germany for technology transfer and resourcing in manufacturing, including sub-sectors of Capital Goods. The MoU between India Steinbeis GmbH was signed in April, 2016 during the Industrial Exhibition Hannover Messe 2016 in Hannover, Germany. Steinbeis GmbH is leading German organization for applied industrial research in Europe. It will act as a Technology Resource Partner for implementing identified projects in manufacturing. The MoU envisages following field of cooperation.

Cabinet Approves Fund of Funds For Start-ups

“The Union Cabinet on 22 June approved the establishment of Fund of Funds for Startups (FFS). The establishment of the fund is in tune with the Start up India Action Plan that was unveiled in January 2016 to boost start up ecosystem in the country.This 10,000 rupees corpus fund will be established is in line with the Start up India Action Plan, an initiative of Department of Industrial Policy & Promotion (DIPP) which was unveiled by Union Government in January 2016.”

ISRO’s PSLV C34 Successfully Injects 20 Satellites Into Orbit 

“Indian Space Research Organisation (ISRO) on 22 June launched a record 20 satellites in a single mission from the Satish Dhawan Space Center in Sriharikota, Andhra Pradesh. These satellites including India’s latest earth observation satellite Cartosat-2 were launched using Polar Satellite Launch Vehicle (PSLV) C-34. With this launch of 20 satellites, ISRO also managed to break its previous record of placing 10 satellites into orbit in a single mission in 2008. The primary satellite in this mission was India’s latest earth observation satellite Cartosat-2. It was PSLV’s 35th continuous successful launch of its total 36th flight. Other 19 satellites were from countries US (13), Canada (2), Germany (1) and Indonesia (1). It also had two satellites from Chennai’s Sathyabama University and College of Engineering, Pune (COEP). The Cartosat-2 series satellite is the primary satellite carried by PSLV-C34. This satellite is similar to the earlier Cartosat-2, 2A and 2B. After its injection into a 505 km polar Sun Synchronous Orbit by PSLV-C34, the satellite will be brought to operational configuration following which it will begin providing regular remote sensing services using Panchromatic and Multispectral cameras.”

Ken Miyauchi Appointed as President and COO of SoftBank Group

Japanese conglomerate SoftBank on 22 June named Ken Miyauchi, head of the group’s Japanese telecommunications operations, as President and Chief Operating Officer (COO). He will succeed Nikesh Arora who had stepped down from his position after the Chairman and CEO of Group Masayoshi Son wanted to remain at the helm longer than first planned. Prior to this appointment, Ken Miyauchi was head of the SoftBank group’s Japanese telecommunications operations. He has been working with the SoftBank Group since October 1984.

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