Current Affairs – 9th May, 2016 – 14th May, 2016

May 17 • Arts and culture news, Business and financial news, International news, politics News, Science and technology news • 362 Views • No Comments on Current Affairs – 9th May, 2016 – 14th May, 2016

National News:-

Finance bill and Bankruptcy bill  approved:-       


  1. Rajya sabha approved the finance bill on 11th may, 2016 which was passed in lok sabha in the previous week.
  2. The bankruptcy bill was passed too on the same day.
  3. The creation of the law will also improve India’s position in the World Bank’s Doing Business ranking.
  4. Bankruptcy is a legal status of a person or other entity that cannot repay the debts it owes to creditors.
  5. Bankruptcy typically involve concealment of assets, concealment or destruction of documents,conflicts of interest, fraudulent claims, false statements or declarations, and fee fixing or redistribution arrangements.
  6. For banks or lenders, the money recovered can be lent again,promoting efficient allocation of resources, besides development of financial markets such as a bond market with clarity on repayment for debtors.
  7. A committee headed by former law secretary T K Viswanathan has suggested a timeline of 180 days —extendable by 90 days — to deal with applications for resolving cases of bankruptcy.
  8. The proposal is to promote the Deposit Insurance and Credit Guarantee Corporation (DICGC) as resolution corporation.

International News:-

                               EU-INDIA SUMMIT ,Brussels, 30 March,2016



  1. Held at Brussels, Belgium on 30.3.2016.
  2. Represented by-Mr. Donald Tusk (President- European Council),  Mr. Jean-Claude Juncker (President- European Commission).India was represented by PM Shri Narendra modi.
  3. In 2004, India became the EU’s “Strategic Partner”.
  4. Since 2005, the Joint Action Plan has been running which was revised in 2008.
  5. A Memorandum of Understanding on the Multi-Annual Indicative Programme (MIP) 2011-2013 was signed between the EU and India in February 2011.
  6. The EU’s Agenda for Jobs, Growth, Fairness and Democratic Change and India’s “Sabka Saath, Sabka Vikas” – (“Collective Efforts, Inclusive Growth”) initiatives create new opportunities for mutually beneficial cooperation between people and businesses on both sides.
  7. The EU is India’s largest trading partner, accounting for 13% of India’s overall trade and also first foreign investor.
  8. Agreement on research and innovation:- This agreement is particularly addressing current global challenges including Health and highlights the extension of the India-EU Science and Technology Cooperation Agreement until 2020


Key Concerned Reforms/Agendas
Terrorist attacks in Brussels on 22 March 2016.
EU demanded ‘low duties’ on automobiles (presently 60-120%).
India asked for ‘data security’ and ‘easier visas’ for professionals with skills.
To come together on ‘GVK issue’(EU banned around 700 pharma products tested by GVK biosciences.)
The pending status of murder case against Italian marines in  ‘International  court of Arbitrage’, Hague( Netherlands).
Promote Sustainable Water Management, Clean Energy and Smart Cities.
European Investment Bank’s largest ever financing in India-  Rs.33 billion for 1st  metro line in Lucknow, capital of UP.


 Elections on 2nd July, 2016

    Australian prime Minister Malcolm Turnbull has announced that fresh elections is going to be held on 2nd July, 2016.



  1. A ‘double-dissolution election’  is likely to be  called by Turnbull Government for 2nd  July after the Senate defied it and defeated legislation establishing a construction ‘industry watchdog’ , the Australian Building and Construction Commission (ABCC).
  2. A separate bill to abolish the tribunal which set minimum pay rates for truck owner-drivers had been strongly backed by the govt.
  3. Also the defeat of the ABCC legislation marks the start of an ‘unofficial election’ campaign.
  4. The  News Polls are putting Labor ahead in two-party preferred terms (49% to 51%).


69th Edition of annual Cannes festival

The 69th Edition of annual Cannes festival is currently being held from 11th  to 22nd may 2016 in France.




  1. The President of the Jury for the main competition is George Miller (australian director) as announced.
  2. The host for the opening/Closing ceremonies is  Laurent Lafitte( French actor).
  3. The Japanese director Naomi Kawase would serve as the ‘Cinéfondation’ and ‘Short Film’ Jury president.
  4. Woody Allen’s (american director) film ‘Café Society’ has been selected to open the festival.

Business News:-

Solar Power Project 


  1. Skypower( canadian renewable energy company)  partnered with BYD Co. Ltd.(Chinese manufacturer) on a bid in the upcoming tenders for 750 megawatts of solar power generation and energy storage capacity in India.
  1. The company also won 200 megawatts of solar projects in the southern state of Telangana.
  2. The ‘SkyPower’  made its debut  in India’s solar auctions in July 2015, winning half of the 300 MW of capacity on offer in the state of MP  at a tariff of Rs.5.05 a kwh, joining slew of foreign firms which have derived down solar prices.

Arts, Culture and Awards News:-

Habitat Film Festival

habitat festival

  • The Habitat Film Festival, being organised in Delhi till 15th May, 2016 and will end with screening of the well- received film “Angry Indian Goddesses”.`


Science And Technology News:-

NASA Kepler mission


  1. NASA kepler mission has announced that they had discovered the largest collection of  1,284 new planets outside the solar system.
  2. NASA’s planet-hunting Kepler spacecraft, which is carrying out a new mission has made its first exoplanet discovery — a ‘super-Earth’ located 180 light-years from Earth.
  3. This led to the discovery of a planet, HIP 116454b, which is 2.5 times the diameter of Earth and follows a close, nine-day orbit around a star that is smaller and cooler than our Sun, making the planet too hot for life as we know it.


  1.  The discrete signals of distant planets are captured by kepler by the phenomenon – that when a planet passes in front of , the brightness decreases.
  2. This is based on a statistical analysis method that can be applied to many planet candidates simultaneously.



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