Current Affairs 16th October 2016

Current Affairs 16th October 2016 - Important Points

• According to K.S. Valdiya committee report Saraswati River so far considered – Mythical, Existed
• Rosneft-led consortium buys India’s Essar Oil for - $13 billion 
• Russia, India ink defence deal on - S-400 Air Defence Systems  

Current Affairs 16th October 2016 - Details

According to K.S. Valdiya committee report Saraswati River so far considered – Mythical, Existed

Among Important National Current Affairs, The K.S. Valdiya committee in its report submitted to the Union Water Resources Ministry has concluded that Saraswati River is so far considered mythical, existed. 

However, the committee comprising of geologists, archaeologists and hydrologists says that they have found evidence of the course of the river Saraswati. 

As earlier, River Saraswati was considered as a mythological river and has been mentioned in the ancient Hindu scriptures, such as the Rig Veda, Ramayana, Mahabharata and others giving credence that it existed during those times.

Rosneft-led consortium buys India’s Essar Oil for - $13 billion 

Among Important International Current Affairs, Russian consortium led energy giant Rosneft Oil Company has agreed to acquire India’s second biggest private oil firm Essar Oil in an all-cash deal valued at about US $13 billion. 

However, the consortium includes Rosneft Oil Company, Netherlands-based commodities trader Trafigura and private investment group United Capital Partners. 

Also, the business transaction was announced in the presence of Prime Minister Narendra Modi and Russian President Vladimir Putin at the 8th BRICS Summit in Goa. 

Russia, India ink defence deal on - S-400 Air Defence Systems 

Among Important National Current Affairs, India has signed a defence deal worth nearly of about Rs 39,000 crore with Russia to purchase five state of art S-400 ‘Triumf’ air defence systems. 

However, India also announced to collaborate in making four stealth frigates and setting up a joint production facility for making Kamov helicopters under Make in India. 

Also in this regard, inter-governmental agreements (IGAs) were signed between both countries following talks between Prime Minister Narendra Modi and Russian President Vladimir Putin on the sidelines of the 8th BRICS Summit in Goa.