6 May 2016 – Daily Current Affairs

Vice-Admiral Sunil Lanba hired as Naval Staff Chief

On 5^th May 2016, Vice-Admiral Sunil Lanba was appointed as the next Naval Staff Chief. At present he is serving as the FOC-in-C (Flag Officer Commanding-in-Chief) of the western-Naval command. He will be assuming this position from 31^st May 2016. He will be the 23^rd Indian Navy Chief and 21^st Indian Chief.  India’s initial two Chiefs were from Britain namely, Admiral Sir CT Mark Pizey as well as Vice-Admiral Sir SH Carlill. Sunil Lanba will be succeeding Chief Admiral RK Dhowan as the latter will be superannuating from this position on 31^st May 2016. Lanba will be serving a three year term till 31^st May 2019.

Niryat Bandhu and Niryat Shree Awards confers by Pranab Mukherjee

On 4^th May 2016, Pranab Mukherjee conferred the 15^th FIEO (Federation of Indian Export Organizations) Niryat Bandhu and Niryat Shree Awards in the capital city, New Delhi. These awards were given during FIEO’s Golden Jubilee celebration. These awards are given to the organizations from different export sectors, service provider banks and various facilitating firms who promoted exports during year 2015-16. The two major award recipients were Reliance Industry and TCS. Reliance was awarded top FE (foreign Exchange) earner as well as the leader exporter in the past 50 years. TCS was given the ‘Gold Award’ for its IT services.

Lok Sabha passed the ‘Insolvency and Bankruptcy Code Bill’ 2016

On 5^th May 2016, Lok Sabha passed the ‘Insolvency and Bankruptcy Code Bill’ 2016. The bill will act as a transformation legislation helping to improve the ranking of India in the ‘Ease of Doing Business’ index of World Bank. This Bill has been prepared based on recommendations by the JPC (Joint Parliamentary Committee). Bhupender Yadav is currently heading this committee. The recommendations report was shared with the government on 28^th April 2016. Some of the significant highlights of this bill were insolvency resolution code, insolvency professional’s resolution, information utilities, The NCLT (National Company Law Tribunal), the DRT (Debt Recovery Tribunal) and the IB (Insolvency and Bankruptcy) Board.

Alberta Wildfire: Canada Government declares ‘State of Emergency’

Alberta is a Western Canadian Province encompassed by prairies, mountains, huge coniferous forests and desert badlands. It was in news during May 2016 first week as the Canada government declared ‘State of Emergency.’ The emergency was declared due to the massive wildfire that destroyed many homes. The city affected was Fort McMurray which is the province’s oil sands hub. As a result of the wildfire, around 80000 residents had to be evacuated the city. The fire started on 1^st May 2016.

Parashar Kulkarni grabs 2016 CSSP (Commonwealth Short Story Prize) for the Asia Region

Parashar Kulkari has been conferred with the 2016 CSSP (Commonwealth Short Story Prize) Award for the Asia Region. The award was given for his unpublished and politically grounded short fiction named ‘Cow and Company.’ He will be receiving 2500 pounds as cash prize. The story talks about four men searching for a cow and is full of twisted plots. It also shows connections between commercial interests and culture.