28 April 2016 Current Affairs
India Extended 1-billion Dollar Line of Credit To Mongolia
India on 28 April extended a Line of Credit (LoC) of 1 billion US dollars to Mongolia. The LoC was extended after delegation-level bilateral talks between the Minister of State for External Affairs VK Singh and Mongolian Foreign Minister Lundeg Purevsuren in New Delhi.Besides, the two countries also agreed to exchange sentenced persons. The extended LoC is the part of announcement made by the Prime Minister Narendra Modi during his visit to Mongolia in May 2015. He announced the LoC for economic expansion and infrastructure development.
Parliament Passed Industries (Development and Regulation) Amendment Bill, 2015
“Parliament on 28 April passed the Industries (Development and Regulation) Amendment Bill, 2015. The Bill amends the Industries (Development and Regulation) Act, 1951. It was first was passed in Lok Sabha on 10 December 2015 and later in Rajya Sabha on 28 April 2016. Now it will go for Presidential assent as per Article 111 of the Indian Constitution. The bill seeks to bring industries engaged in the manufacture of potable alcohol under the exclusive control of States in all respects. It amends 1st schedule of the parent Act to bring required changes for regulating industries manufacturing potable alcohol.”
Indian Naval Ships Veer and Nipat Decommissioned
Two Indian Naval Ships (INS) ‘Veer’ and ‘Nipat’ were decommissioned on 28 April at the Naval Dockyard in Mumbai, Maharashtra. The decommissioning ceremony of these ships was held in the presence of Vice Admiral Sunil Lanba, Flag Officer Commanding-in-Chief Western Naval Command. Both the ships belonged to the 1241 RE class missile vessels. They had served under 22nd Killer Squadron and have completed 29 and 28 years of commissioned service respectively. The ships had played a significant role as the guardian of International Maritime Borderline off west coast of India. These ships are also the first of Veer Class of ships to be decommissioned from the Indian Navy. In their service, they have participated in numerous operations and successfully completed many deployments. They were extensively deployed during the Operations Vijay (1961) and Parakram (2001–2002) of the Indian Navy.
Radha Kumar Appointed To UN University Council
Indian academician Radha Kumar was on 28 April appointed as United Nation’s University Council along with other 11 people by UN Secretary-General Ban Ki-moon. They will serve for terms of either three or six years and shall formulate its principles and policies, consider and approve biennial budget and work programme. Radha Kumar is the Director General of New Delhi-based think tank Delhi Policy Group. She is a specialist in ethnic conflicts, peacemaking and peace-building. Formerly Director of the Mandela Centre for Peace and Conflict Studies at Jamia Millia Islamia University, Kumar has also been a Senior Fellow in Peace and Conflict Studies at the Council on Foreign Relations in the city. She had also served as one of the three-member Group of Interlocutors appointed by the Union Government for Jammu and Kashmir. The main function of the UN University Council is to formulate the principles and policies of the University and govern its operations. It also considers and approves its biennial budget and work programme.
Nooyi, Nadella, Bhavesh Among Highest Paid CEOs In The World
Three Indian origin persons have been named among 100 highest-paid CEOs globally with PepsiCo’s Indra Nooyi and LyondellBasell’s Bhavesh Patel making it to the top ten list compiled by Equilar.Chemicals company LyondellBasell Industries’ top executive Bhavesh V Patel was ranked sixth on the list with a total compensation of $24.5 million, while Nooyi, the chief executive of PepsiCo was ranked eighth on the list with a total pay of $22.2 million. Satya Nadella, the CEO of Microsoft was ranked 26th on the list of 100 highest-paid CEOs with a total compensation of $18.3 million. The overall list was topped by Mark V Hurd and Safra A Catz of Oracle Corp with both boasting a total compensation of $53.2 million.
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