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Here is an update containing all the important current affairs for 12th May 2016. You can download the Important Current Affairs 12th May 2016 with pdf capsule too.
Govt brings Bill for Debt Recovery Plea
  • The govt has introduced a Bill which provides for expeditious disposal of debt recovery applications pending before tribunals.
  • The Enforcement of Security Interest & Recovery of Debts Laws & Miscellaneous Provisions (Amendment) Bill, 2016 was introduced by Arun Jaitley.
  • The bill proposes to give RBI powers to regulate & provide stamp duty exemption on loans by banks to asset reconstruction firms.
Parliament Passes Bankruptcy Code
  • The Rajya Sabha has passed the Insolvency & Bankruptcy Code 2016.
  • The bill was already passed by the Lok Sabha.
  • It will ensure time-bound settlement of insolvency,enable faster turnaround of businesses & create a database of serial defaulters.
  • The Code will ensure speedy process for early identification of financial distress & resolution of companies.
  • The bill will improve ease of doing business.
12th-May: International Nurses Day
  • International Nurses Day is celebrated every year on May 12.
  • The International Council of Nurses celebrated this day since 1965.
  • 12 May was chosen to commemorate the birth anniversary of Florence Nightingale,who is widely considered the founder of modern nursing.
  • The day marks the nurses contributions towards people’s health.
  •  2016 theme is: A Force for Change:Improving health systems’ resilience.
Army Holds Military Training Exercise
  • Indian Army is holding a major military training exercise Chakravyuh-II in Suratgarh,Rajasthan.
  • The exercise aims to validate battle readiness & operational effectiveness of the Pivot Formation & Rapid Division of the army.
  • The exercise also involves execution of battle plans in conjunction with the Air Force.
  • Troop insertion by air was also integrated into the exercise using the Special Forces.
Obama Honours Indian-American Teacher
  • Revathi Balakrishnan ,an Indian-American woman from Texas has been honored by US President for her excellent work in the field of education.
  • She was named as 2016 Texas Elementary Teacher of the Year.
  • She received the honour for her excellent work in the field of education at Patsy Sommer Elementary School in Texas.
  • She will now represent Texas in the National Teacher of the Year competition.
Kerala Win Best Family Destination Award
  • Kerala has been named as the best family destination in the country at the Lonely Planet Magazine India Travel Awards 2016.
  • Kerala Tourism Director U V Jose received the award at a function in Mumbai.
  • The annual awards showcase the best travel experiences & the destinations Indians most love to visit.
  • Kerala Tourism had earlier won the Ulysses Prize of the UN World Tourism Organisation.
UP Govt Approves Bicycle Highway
  • The Uttar Pradesh govt. has given its nod to develop nearly 200-km long bicycle highway from Agra to the lion safari in Etawah.
  • It aims to encourage eco-tourism in the vicinity of the Taj Mahal.
  • The proposed highway will cover various historical & tourism centres.
  • Starting from Taj Mahal,it will cover areas such as Raja Bhoj ki Haveli,Bateshwarnath Temple & other to reach lion safari in Etawah.
Kenya to Shut World Biggest Refugee Camp
  • The Kenyan government has decided to close World’s biggest refugee camp in Dadaab.
  • An estimated 328,000 refugees mostly from Somalia are staying in Dadaab camp.
  • The camp compromises Kenya’s security because it harbors some of Somalia’s Al-Shabab militants & is a conduit for smuggling weapons.
  • The UN has urged Kenya to reconsider its decision to close Dadaab camp.
Shashank Manohar Elected as ICC Chairman
  • Veteran cricket administrator Shashank Manohar was elected unopposed as ICC’s first independent Chairman.
  • He served his first stint as the BCCI president from 2008-2011.
  • He was re-elected as the BCCI president in October 2015.
  • In order to accommodate the new position of an “independent” ICC Chairman, the Full Council unanimously approved various amendments to the ICC’s constitution.
Indian Economy to Grow 7.3% in 2016: UN
  • India’s economy is projected to grow by 7.3 percent in 2016.
  • India is expected to achieve a 7.5 per cent GDP growth in 2017.
  • China GDP projected to grow 6.4 percent in 2016 & 6.5 percent in 2017.
  • This was according to The World Economic Situation & Prospect report.
  • The report was produced jointly by the UN Department of Economic & Social Affairs & the UN Conference on Trade & Development.
Rajya Sabha MP Praveen Rashtrapal Dies
  • Congress leader & Rajya Sabha member Praveen Rashtrapal has passed away.
  • He was elected to the 13th Lok Sabha (1999-2004).
  • He was a member from the Upper House from April 2006 to April 2012 & was re-elected in April 2012.
  • He was associated with the trade union movement of Income Tax employees.
  • He was an Assistant Commissioner of Income Tax before he took a plunge into politics.
Corruption Costs $2 Trillion a Year :IMF
  • Bribery & corruption cost the world economy as much as 2 trillion dollars every year.
  • A new report by the International Monetary Fund says, the money lost to corruption every year is 2 percent of the global gross domestic product.
  • The report recommends nations adopt international standards for fiscal & financial transparency.
  • It also calls a free press a key player in uncovering the problem.
Iran’s Zabol: World’s Most Polluted City
  • Iran’s Zabol city ranks first among the most polluted cities in the world, according to a report released by the World Health Organization (WHO).
  • The next four are all Indian cities – Gwalior, Allahabad, Patna & Raipur.
  • New Delhi is the 9th worst city, measured by the amount of particulate matter under 2.5 micrograms found in every cubic metre of air.
  • The WHO covers 3000 cities in 103 countries.

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