Current Affairs 11th May 2016

Current Affairs 11th May 2016 - Important Points

• Registration of four NBFCs was cancelled by - RBI
• RBI to issue notes of which denomination with inset letter 'R' -  1000 Rupees
• National Technology Day observed was observed on - May 11
• India signed Protocol to Amend Taxation Methods with which country - Mauritius
• Which fighter plane was decommissioned by Indian Navy - Sea Harriers
• Name of world's first holographic flexible smartphone - HoloFlex
• TRAI regulation on telecom companies over call drops was struck down by - Supreme Court

Current Affairs 11th May 2016 - Details

Registration of four NBFCs was cancelled by - RBI

Among Important Banking Current Affairs, On 10th May 2016, Reserve Bank of India cancelled the certificate of registration of the four Non-Banking Financial Companies (NBFCs) by use of powers under Section 45-IA (6) of the Reserve Bank of India Act, 1934.

Following are the names of NBFC's :

• M/s Neelanjali Engineering Private Limited
• M/s Novoflex Tradecom Private Limited
• M/s Guide Investments and Trading Co. Pvt. Ltd
• M/s Enol Ventures Private Limited

RBI to issue notes of which denomination with inset letter 'R' -  1000 Rupees

On 9th May 2016, Reserve Bank of India (RBI) announced that it will issue 1000 rupees banknotes in Mahatma Gandhi Series – 2005 with the inset letter 'R' in both the number panels.
These bank notes will also have year of printing 2016 on the reverse of the banknote.

National Technology Day observed was observed on - May 11

Among Important Days, On 11th May 2016, National Technology Day was observed in India. Theme for year 2016 was "Technology enablers of Startup India".
This day is observed as a tribute to our scientists for their lots of innovations and accomplishments for the betterment of country.

Do You Know :
On this day, 11th May 1998, first of the five tests of Operation Shakti (Pokhran-II) nuclear test was held.

India signed Protocol to Amend Taxation Methods with which country - Mauritius

Among Important Pacts, On 10th May 2016, India inked a Pact on taxation with Mauritius at Port Louis, Mauritius.
This pact was inked with an aim of Exchange of Information Article as per international standard, provision for assistance in collection of taxes, source-based taxation of other income.
India will be getting taxation rights on capital gains which arise from alienation of shares acquired on or after 1 April 2017 in a company resident in India with effect from financial year 2017-18.

This pact will improve transparency in tax matters and will help both countries to curb tax evasion and tax avoidance.

Which fighter plane was decommissioned by Indian Navy - Sea Harriers

On 11th May 2016, Indian Navy decommissioned Sea Harrier fighter planes and an official ceremony was held to mark this day. These planes will be replaced with MIG-29 K fighters.
Chief of Naval Staff Admiral RK Dhowan presided over the ceremony.
Important to mention here that Sea Harrier fighter planes were popular with the name of "white tigers". These were manufactured by British Aerospace and were inducted in 1983.

Name of world's first holographic flexible smartphone - HoloFlex

At Queen University, A group of researchers announced that they have developed first holographic flexible smartphone of world and they named it HoloFlex.
This device is unique in many ways as it can display 3D images with motion parallax and stereoscopy to multiple simultaneous users without head tracking or glasses.
It is having a bend sensor, which allows the user to bend the phone as a means of moving objects along the z-axis of the display.

TRAI regulation on telecom companies over call drops was struck down by - Supreme Court

Among Important Judgements, On 11th May 2016, Supreme Court struck the regulation of TRAI which made it mandatory for telecom companies to compensate subscribers for call drops from January 2016.
Apex bench comprising Justices Kurian Joseph and R F Nariman gave this decision after the appeal filed by Cellular Operators Association of India (COAI).
Do You Know :
TRAI - Telecom Regulatory Authority of India