Current Affairs 25th February 2016

Important Points : 

• Which company has been ordered by the US court ordered to pay 72 million dollar for cancer death - Johnson & Johnson
• RBI cancelled Certificate of Registration of - 26 NBFCs
• Which state has announced to constitute two task forces for tribals, Gorkhas - West Bengal Government
• Who has sworn-in as Chief Justice of Karnataka High Court - Justice Subhro Kamal Mukherjee 
• Who has approved proposal to establish Atal Innovation Mission (AIM) and SETU in NITI Aayog - Union Cabinet 
• Which act has been launched by Mizoram - National Food Security Act, 2013
• Which film will be honoured with Remi Award - Tamil film Kanavu Variyam
• Railway Budget 2016-17
• Who has won Trans-Tasman Trophy of Cricket - Australia 

Details : 

Which company has been ordered by the US court ordered to pay 72 million dollar for cancer death - Johnson & Johnson

Among the important International Current Affairs, On 22nd February 2016, Johnson & Johnson Company was ordered by the Missouri state court of United States to pay 72 million dollars to the family of Jacqueline Fox, who passed away of ovarian cancer caused due to the use of the company's talc-based Baby Powder and Shower to Shower for several decades.

10 million dollars were paid to the family of victim as actual damages in a verdict by the jurors in the circuit court of St. Louis and 62 million dollars as punitive damages.

Johnson & Johnson have faced several hundred lawsuits claiming that it, in an effort to boost sales it failed to alert the consumers about the hazardous effects of talc-based products for decades.

RBI cancelled Certificate of Registration of - 26 NBFCs

Among the important National Current Affairs, On 22nd February 2016, the certificate of registration of the 26 non-banking financial companies (NBFCs) was cancelled by the Reserve Bank of India (RBI) under Section 45-IA (6) of the Reserve Bank of India Act, 1934.

The NBFCs whose registration was cancelled includes 

• Avorik Vyapaar Private Limited 
• Ganpati Vincom Private Limited (Presently, Savi Global Realtors Limited)
• Bajaj Auto Holdings Limited
• Alpha General Leasing & Finance Private Limited
• Binikom Vyapaar Private Limited 
• Abirami Financial Services [India] Limited
• ITI Capital Markets Limited
• Breakeven Business Credits Private Limited
• Pathik Overseas Limited
• Labh Lease and Finance Ltd 
• Advantage Finvest Limited 
• Mathura Financial Services Limited 
• MIS Consultants Private Limited
• Delton Impex (P) Ltd
• Punwire Holdings Limited
• IDFC Finance Limited
• Wizard Fincap Limited 
• M.J.K. Mercantiles Private Limited 
• J.M.B. Commercial & Credit Limited 
• Esjay Estates Limited 
• Bengani Resources Private Limited (Formerly known as Mayuri Vinimay Private Limited)
• S.J. Finance & Consultants Private Limited
• Cosmat Investment Private Limited 
• Pavai Trading Co. Private Limited 
• Modern Vintrade Private Limited
• Swadhaar Finserve Private Limited

Which state has announced to constitute two task forces for tribals, Gorkhas - West Bengal Government

On 24th February 2016, for the development of Adivasis and Gorkhas living in the state, two task forces will be constituted by the West Bengal Government.

One task force will work for the Gorkhas living in the Darjeeling Hills region in northern part of the State and the other for the tribals of the Terai-Dooars.

State Sports and Youth Affairs Minister, Arup Biswas announced this in a meeting of the Dooars Siliguri Terai Bhartiya Nepali Development Forum (DSTBNDB).

Previously, the State Government had set-up six development boards for the Khambu-Rais, Tamangs, Lepchas, Sherpas, Mangars and Bhutias.

Who has sworn-in as Chief Justice of Karnataka High Court - Justice Subhro Kamal Mukherjee 

Among the important National Current Affairs, On 23rd February 2016, Justice Subhro Kamal Mukherjee took oath as the 28th Chief Justice of the High Court of Karnataka.

The oath was administered by Governor Vajubhai R. Vala.

About Justice Subhro Kamal Mukherjee

• On 15th September 2000, he was promoted as Permanent Judge of the High Court of Calcutta.
• On 15th April 2015, he took oath as Judge of Karnataka High Court.
• On 1st June 2015, he was appointed as Acting Chief Justice of High Court of Karnataka.

Who has approved proposal to establish Atal Innovation Mission (AIM) and SETU in NITI Aayog - Union Cabinet 

On 24th February 2016, a proposal to establish Atal Innovation Mission (AIM) and Self Employment and Talent Utilisation (SETU) in NITI Aayog was approved by the Union Cabinet chaired by the Prime Minister Narendra Modi.

Features of the Mission

• The mission will be guided by Mission High Level Committee (MHLC) to take all decisions relating to approval of requisite guidelines which include Grand Challenge areas, prize money and implementation of various elements of AIM and SETU.
• NITI Aayog will hire the Mission Director and other appropriate manpower.

Which act has been launched by Mizoram - National Food Security Act, 2013

Among the important National Current Affairs, On 24th February 2016, Food civil Supplies and Consumer affairs Minister John Rotluangliana launched the National Food Security Act (NFSA) 2013 in Mizoram.

It is decided by the state that in addition to the 5 kilogram of rice covered by Food Security Act, the state has decided to allocate 3 kilogram of rice.

Besides, it was also decided by the state government to provide 8 kilogram of Rice at the rate of 15 Rupees to those not covered by Food Security Act.

Which film will be honoured with Remi Award - Tamil film Kanavu Variyam

Among the important National Current Affairs, In Third week of February 2016, Kanavu Variyam, a Tamil movie directed by a Chennai-based techie Arun Chidambaram, was selected for the prestigious Remi Award.

The award will be presented to Chidambaram during the 49th WorldFest Houston International Film Festival.

About WorldFest

• In August 1961, WorldFest was founded over 50 years ago as Cinema Arts, an International Film Society.
• It is the oldest Independent Film & Video Festival in the World.
• It became the third competitive international film festival in North America, following San Francisco and New York.

Railway Budget 2016-17

Among the important National Current Affairs, On 25th February 2016, the Railway Budget 2016-17 was presented by the Railway Minister Suresh Prabhu presented in the Lok Sabha. A capital plan of 121000 crore rupees in 2016-17 was planned in his second budget. 

The budget was based on a theme "Overcoming challenges – Reorganize, Restructure Rejuvenate Indian Railways: ‘Chalo, Milkar Kuch Naya Karen’.

Railway Budget of 2016-17 is based on three pillars and they are New Sanrachna (New Structures), Nav Arjan (New Revenues) and Nav Manak (New Norms).

Major Highlights 

• By 2020, rail tickets will be available at all places  
• To commission 2800 km of new tracks in 2016-17
• Bids for setting up 2 locomotive factories was finalised and the new factories will be set up with an order book of 40000 crore rupees.
• Action of 139 Budget announcements on 2015-16 has been initiated
• Aimed at eliminating unmanned level crossings by 2020
• The speed of the passenger train will be increased to 80km/hr
• Institutional financing will be introduced for funding projects 
• Aimed at generating revenues of order of 184820 crore rupees in 2016, which is 10.1 percent higher than revised target of 2015
• Dedicated freight corridor project gaining momentum. New freight corridors announced: Kharagpur-Mumbai, Kharagpur-Vijayawada, Delhi-Chennai.
• Poised to commission broad gauge lines at the rate of 7 km per day against 4.5 km over last five years
• Plan to generate 9 crore man-days employment by 2017-18 and 14 crore man-days by 2018-19
• North-East India, especially Mizoram and Manipur, to be connected through broad gauge soon
• Wants to double investment in Railways
• By 2020, delay in running of 95% trains will be ended 

Who has won Trans-Tasman Trophy of Cricket - Australia 

Among the important Sports Current Affairs, On 24th February 2016, Australia became World Number 1 in ICC Test ranking after winning Trans-Tasman Trophy of Cricket against New Zealand.

Brief details of the Series

First Test was held at Wellington and won by Australia. AC Voges of Australia was declared as the Player of the match.

Second Testwas held at Christchurch and won by Australia. In this match Brendon McCullum made a record breaking century in 54 balls. JA Burns of Australia was declared as the Player of the match.