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ere is an update containing all the important current affairs for 11th May 2016. You can download the Important Current Affairs 11th May 2016 with pdf capsule too.

RBI to Issue Rs1000 notes with Insert R

  • The Reserve Bank of India will shortly issue banknotes of Rs 1,000 denomination with inset letter ‘R’ in both the number panels.
  • Banknotes will also have all the other security features including ascending size of numerals, bleed lines & enlarged identification mark.
  • Banknotes will bear the signature of RBI Governor Raghuram G Rajan.
  • It will also have the year of printing ‘2016’.

11th-May : National Technology Day

  • The National Technology Day is observed every year on May 11.
  • The event is marked with great pride as the country achieved a huge technological progression on this particular day.
  • It was on this day that the first, indigenous aircraft Hansa-3 was test flown at Bangalore.
  • India  executed three successful nuclear test on May 11.
  • The theme for this year is Technology enablers of Startup India.

Indian Navy Bids Adieu to Sea Harriers

  • Indian Navy has decommissioned its fleet of iconic fighter plane Sea Harriers.
  • The planes were decommissioned at a function organised at INS Hansa base in Vasco, Goa.
  • The aircraft, developed by the British in the 1960s, are best known for the ability to take off & land vertically & the only class of jet that can hover like a helicopter.
  • The Harriers will be replaced by Russian Mig 29k jets.

Amazon Launch YouTube-Like Video Service

  • Amazon announced the launch of new service Amazon Video Direct (AVD).
  • A new service allows independent content creators to upload content and get paid.
  • The program aims to allow video creators to upload original or licensed videos to the service to reach a wider audience.
  • Amazon will pay content creators 50 percent of the revenue earned from rental receipts or sale of the videos.

Rodrigo Wins Philippines Elections

  • Rodrigo Duterte has won the Philippine presidential elections.
  • Mr Duterte stirred controversy during campaigning with his incendiary comments.
  • He has credited his success to his tough stance on law and order.
  • His record as the crime-crushing mayor of the southern town of Davao earned him the moniker The Punisher.
  • Manuel Roxas is in second place with 9m (23%) of votes cast.

Mrugank Takes Charge as MCX MD & CEO

  • Mrugank Paranjape took over as managing director & chief Executive officer of the Multi Commodity Exchange (MCX),
  • Prior to joining MCX, Paranjape was the India Head of DB Centre of Deutsche Bank across all business divisions.
  • His term is for three years.
  • MCX has been headless for the past two years.
  • P K Singhal was handling the affairs of the exchange as joint MD.

BCCI President Shashank Manohar Resigns

  • Shashank Manohar has stepped down as president of the Board of Control for Cricket in India (BCCI).
  • He had taken over as cricket body’s president after the demise of Jagmohan Dalmiya in October 2015.
  • Mr. Manohar would now contest for the post of Chairman of ICC.
  • The ICC has set a rule that its Chairman should be of independent nature & can’t act in dual role.

Japan Honours N.K. Singh

  • N.K. Singh was honoured with Japan’s second highest national decoration for his contribution in strengthening Indo-Japan ties in the field of trade & investment.
  • The Order of the Rising Sun,Gold & Silver Star award was conferred on Mr. Singh by PM Shinzo Abe.
  • Mr. Singh is a politician, economist & former top bureaucrat.
  • The Order of the Rising Sun is a Japanese govt. honour established in 1875.

Indians’ Average Wealth Soars 400%

  • Average wealth of an Indian surged by 400% in 10 years to 2015 while that of an European citizen declined by 5% during the period.
  • In emerging markets such as India, China & Vietnam, average wealth has gone up by over 400% during the 10-year period (2005-15).
  • The average European citizen is currently worth around $86,000.
  • This was according to a report by New World Wealth.

India, Mauritius Tax Treaty Amended

  • India & Mauritius signed a protocol for amendment of a three-decade-old double taxation avoidance agreement.
  • The govt. has gained the right to tax capital gains arising in Mauritius from sale of shares acquired on or after April 1, 2017, in Indian companies.
  • During a transition period of two years, the tax will be limited to half the Indian tax rate.
  • The full tax rate will kick in from 2019-20.

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