Sunday, 7 January 2018

Current Affairs 07/01/2018




RBI Introduces New Rs 10 Banknote In Mahatma Gandhi Series

  • The Reserve Bank of India (RBI) presented the new Rs 10 banknote under the Mahatma Gandhi (New) series.
  • The central bank has announced that it will launch the new currency note as legal tender soon.
  • The new Rs 10 note is chocolate brown in colour, and it will bear the signature of RBI Governor Urjit Patel.
  • The back of the note features motif of Sun Temple in Konark, ‘depicting the country’s cultural heritage’. Dimensions of the note are 63mmx123mm, as opposed to the older notes 63mmx137mm.
Headquarters: Mumbai
Governor: Urjit Patel

West Bengal CM Unveils State Logo With Biswa Bangla Theme

  • The West Bengal Chief Minister Mamata Banerjee inaugurated its own State symbol.
  • The logo highlights the Ashoka emblem on the top with the theme of “Biswa Bangla” at the centre.
  • It was designed by Chief Minister Mamata Banerjee herself and it was reviewed by a State government committee headed by eminent artist Jogen Chowdhury.
  • Many States like Odisha, Bihar and Telangana have their own seals and logos.
West Bengal chief secretary: Malay De
West Bengal
Capital: Kolkata
Chief Minister: Mamata Banerjee
Governor: Keshari Nath Tripathi

World Book Fair Begins In New Delhi To Focus On Environment

  • The 26th edition of New Delhi World Book Fair is all set to begin in New Delhi.
  • It will be held at Pragati Maidan and it is organised by the National Book Trust (NBT), India, in association with India Trade Promotion Organization (ITPO).
  • Burning environment issues like climate change, global warming, and water pollution will be the main theme for this year’s New Delhi World Book Fair.
  • This year’s book fair will host European Union as the Guest of Honour Country.
  • Apart from the EU nations, more than 40 countries including Belgium, Canada, China, Denmark, Egypt, France, Germany, Pakistan and United Kingdom will participate in the book fair.
Theme: Environment and Climate Change

International Balloon Festival Begins In TN

  • The fourth edition of the Tamil Nadu International Balloon Festival will be held in Pollachi near Coimbatore.
  • Twelve hot-air balloons from six countries — the US, Belgium, the Netherlands, France, Poland and Germany — will be showcased at the festival.It will also feature Tamil Nadu Tourism Department’s ‘2.0’ balloon and those on angry birds.
  • It is organised by media company Global Media Box and The Slaves, a Pollachi-based restaurant, with the support of the State Tourism Department and Adhiban Fincorp.
Tamil Nadu
Capital: Chennai
Chief Minister: Edappadi K. Palaniswami
Governor: Banwarilal Purohit

Boeing To Set Up P-8I Anti-Sub Aircraft Training Unit In TN

  • Boeing will set up a training facility for its P-8I warfare aircraft at the naval air station INS Rajali, near Arakkonam in Tamil Nadu.
  • The 60,000-sq ft facility for P-8I Long Range Maritime Reconnaissance Anti-Submarine Warfare aircraft will be commissioned by March 2021. The India training facility will be the second for Boeing globally, the first one being in Australia.
  • The P-8I Training Solution, along with 10-year comprehensive maintenance service, will be brought from Boeing for ₹1,949.32 crore.
  • The order was cleared by Defence Minister Nirmala Sitharaman.
Tamil Nadu
Capital: Chennai
Chief Minister: Edappadi K. Palaniswami
Governor: Banwarilal Purohit

Himalayan Hydro Expo 2018 Kicked Off At Kathmandu

  • The Himalayan Hydro Expo 2018 begins at Kathmandu, Nepal.The President of Nepal Bidya Devi Bhandariinaugurated the exhibition.
  • The Delegates from various countries including India, China, Austria, Czech Republic and Norway are participating in the expo.
  • The basic objective of Expo is to unleash massive hydro power potential of Nepal and bring all stakeholders under one roof.
Capital: Kathmandu
Currency: Nepalese rupee
Prime Minister: Sher Bahadur Deuba


India Excludes Pakistan From A Saarc Initiative

  • India has excluded Pakistan from the list of Saarc member countries with which it will be connecting its state-of-the art National Knowledge Network (NKN) for sharing scientific databases and remote access to advanced research facilities.
  • The government has started the process of appointing a telecom company that will connect and extend the NKN to research and education networks in six South Asian Association of Regional Cooperation member states — Afghanistan, Bangladesh, Bhutan, Maldives, Nepal and Sri Lanka.
  • Pakistan is the only Saarc nation that has been left out of this initiative.
Capital: Islamabad
Currency: Pakistani rupee
Prime Minister: Shahid Khaqan Abbasi

Iceland Becomes 1st Country To Legalise Equal Pay

  • Iceland has stepped up for equality and has become the first country in the world to legalise equal pay.
  • The country aims to eradicate gender pay inequality by the year 2022 .
  • According to World Economic Forum, Iceland already ranks first in terms of global gender equality index. In 2017, it bagged the first place for the ninth consecutive year.
  • According to a law passed by the parliament in June, all companies, both private and public, need to prove that their wage practices don’t discriminate against women. The only difference in wages that may exist, should be on the basis of education, output, and skills.
Capital: Reykjavik
Currency: Icelandic krona
Prime Minister: Bjarni Benediktsson


India GDP Growth Will Be 6.5% In 2017-18, Down From 7.1% Last Fiscal: CSO

  • The Indian economy is expected to decelerate to 6.5% in 2017-18 from 7.1% in the previous year, because of demonetisation and goods and services tax (GST).
  • Data released by the Central Statistics Office (CSO) showed that the agriculture sector is expected to grow at 2.1% in FY18, slower than 4.9% in the previous year, while manufacturing is likely to grow at 4.6%, compared with 7.9% a year ago. Electricity and trade, hotels sectors are the only sectors that will grow at a faster rate of 7.5% and 8.7% in FY18 than in FY17.
  • The annual growth rate for the fiscal 2016-17 was 7.1 per cent.
Economic affairs secretary: Subhash Chandra Garg.

TIHCL Gets RBI Nod To Operate As NBFC

  • The Telangana Industrial Health Clinic Limited (TIHCL) has secured the RBI approval for becoming a non-banking finance company (NBFC).
  • It had won the SKOCH Platinum Award in September 2017 under the smart governance category in the MSME segment.
  • A non-bank financial institution is a financial institution which is registered under companies act, 1956 that does not have a full banking license or is not supervised by a national or international banking regulatory agency.
NBFCs lend and make investments and hence their activities are akin to that of banks; however there are a few differences as given below:
  • i. NBFC cannot accept demand deposits;
  • ii. NBFCs do not form part of the payment and settlement system and cannot issue cheques drawn on itself;
  • iii. deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation is not available to depositors of NBFCs, unlike in case of banks.

Paytm Payments Bank Ties Up With IndusInd For FD Facility

  • Paytm Payments Bank has partnered with Induslnd Bank to introduce a facility to create a fixed deposit when the customer balance exceeds Rs 1 lakh at the end of day.
  • Paytm Payments Bank customers can redeem their deposits instantly, anytime without paying any pre-closure or miscellaneous charges. They can also earn up to 6.85 percent annual interest.
  • If a customer becomes a senior citizen before the maturity period, the account will be auto renewed under the senior citizen scheme with high interest rate.
Paytm Payments Bank MD and CEO: Renu Satti
IndusInd CEO: Romesh Sobti


Ravi Menon Named Best Governor Of Asia Pacific


  • An Indian-origin banker in Singapore has been named as the best central bank governor in Asia-Pacific for 2018.
  • Ravi Menon, managing director of Singapore’s central bank Monetary Authority of Singapore (MAS).
  • The award was given by UK-based magazine ‘The Banker‘ for his contribution in the makeover of Singapore’s financial system.
  • Singapore’s Finance Minister Heng Swee Keat was also named the best banker in 2011. He was then as MAS’s managing director.


Carnatic Vocalist Radha Viswanathan Passes Away

  • Carnatic singer, Radha Viswanathan passed away in Bengaluru. Radha Viswanathan is the daughter of famous classical singer M S Subbulakshmi.
  • She had performed in concerts along with her mother M S Subbulakshmi.

Thursday, 21 December 2017

Current Affairs 21/12/2017



Indian Army conducts major military exercise Hamesha Vijayee in deserts of Rajasthan
Indian Army’s Southern Command is conducting a major military exercise called Hamesha Vijayee in the deserts of Rajasthan.
The aim of Hamesha Vijayee is to assess the capabilities of the armed forces to strike deep into enemy territory and the exercise is being conducted in an integrated air-land battle scenario.
Hamesha Vijayee is going to be held from December 16 to 22 and it is being carried in the cities, Barmer and Jaisalmer, Rajasthan.
Chief Minister: Vasundhra Raje
Governor: Kalyan Singh

Andhra Pradesh Govt develops ‘Gaming for Learning’ hub
Chief Minister N. Chandrababu Naidu announced that the government is trying to develop the state as an e-learning gaming hub.
The first day of the international Ed-Tech conference, Transforming Education Conference for Humanity (TECH)partnerships with Education Ministry of the Andhra Pradesh government, the Andhra Pradesh Economic Development Board and the UNESCO Mahatma Gandhi Institute of Education for Peace and Sustainable Development (MGIEP) to develop the State into a hub of Games for Learning.
The partnership is in line with the Vision 2029 framework of Chief Minister N Chandrababu Naidu
Andhra Pradesh
Capital: Hyderabad
Chief Minister: N. Chandrababu Naidu
Governor: E. S. L. Narasimhan

India’s First National Rail and Transportation University in Gujarat
The Union Cabinet chaired by PM Narendra Modi approved the initiative to set up India’s first ever National Rail and Transport University (NRTU) in Vadodara, Gujarat. This initiative by Indian Railways is to skill its human resources and build capability.
A not-for-profit company under Section 8 of the Companies Act, 2013, will be created by the ministry of railways which will be the managing company of the proposed university.
The University will be set up as a Deemed University under de novo category as per the UGC [Institutions Deemed to be Universities] Regulations, 2016 and the funding of the new University/Institute is to entirely come from Ministry of Railways.
Ministry of Railways
Union Minister: Piyush Goyal
Constituency: Maharashtra

Central Government gives nod for Kaleshwaram Project in Telangana
The Telangana state government’s prestigious Kaleshwaram Lift Irrigation Scheme has finally got the Green Nod from central government. The expert appraisal committee of the Union Ministry of Environment and Forest recommended the “proposal for grant of environmental clearance”  in Delhi.
The green nod for the project will be a big boost to the state government.
Chief Minister: K Chandrasekhar Rao
Governor: E.S.L. Narasimhan

World Bank Provides Loans of $125 Million for STRIVE Project
The World Bank has approved $125 million (around Rs800 crore) loan to India for the STRIVE project for skill development.
STRIVE- Skills Strengthening for Industrial Value Enhancement.
The objective of the operation is to improve access to quality and market-driven vocational training as well as apprenticeships. The financing agreement was signed between the World Bank and the Finance Ministry.
World Bank
Headquarters: Washington DC, USA
World Bank President: Jim Yong Kim

India signs pact with Myanmar for Development of Rakhine State
India and Myanmar signed an agreement for socio-economic development of Myanmar’s Rakhine State.The agreement was signed by India’s foreign secretary S. Jaishankar and Myanmar’s deputy minister for social welfare, relief and resettlement U. Soe Aung on Rakhine State Development Programme.
It has been signed for socio-economic development of Myanmar’s violence hit Rakhine state from where hundreds of thousands of mainly Muslim Rohingyas have fled to Bangladesh.
This MoU is the first government to government agreement.
Capital: Naypyidaw
Prime Minister: Aung San Suu Kyi

Delhi Ranks 7th in Most Expensive Office Locations List
According to the latest report by JLL India, Delhi has emerged as one of the most expensive premium office locations in the world. Ranked 7th in the list, rent of Delhi’s premium office location is higher than San Francisco and Dubai.
Mumbai is at 16th position in the list.
Hong Kong tops the list and there is the huge margin between the rent rates between Hong Kong and London (West), which is second in the list. New York, Beijing, Tokyo are on the third, fourth and fifth position respectively.

IMF approves $2 billion loan installment for Egypt
The International Monetary Fund has approved the third installment of USD 12 billion, three-year loan for Egypt. Till now USD 6 billion has been released to Egypt.
The IMF board approved the latest USD 2 billion disbursement under the deal signed in November 2016.
Headquarters: Washington, D.C., United States
CEO: Christine Lagarde

RBI puts Bank of India under prompt corrective action
Bank of India (BoI) became the eighth lender to come under the Reserve Bank of India’s (RBI) prompt corrective action (PCA), as bad loans raised high and return on assets turned negative.
Bank of India shares fell nearly 5 percent after the RBI has placed the bank under Prompt Corrective Action Framework.
Corporation Bank, Oriental Bank of Commerce, UCO Bank, Central bank of India, IDBI bank, Dena Bank, United Bank of India and Bank of Maharashtra are the other banks already under prompt corrective action (PCA).
Prompt Corrective Action- To ensure that banks don’t go bust, RBI has put in place some trigger points to assess, monitor, control and take corrective actions on banks which are weak and troubled. The process or mechanism under which such actions are taken is known as Prompt Corrective Action, or PCA.
Bank of India
Headquarters: Mumbai
CEO: Rana Kapoor
Tagline: Relationships Beyond Banking

YES Bank ties up with EIB for Clean Power Projects
YES Bank and the European Investment Bank will co-finance $400-million funding for renewable power generation in the country. Under this renewable power generation initiative, several solar projects in Rajasthan, Maharashtra and Karnataka will be established.
Of the $400-million, the EIB will fund $200 million, while the rest will be supported by YES Bank, the project promoters, and other financial institutions. The EIB loan of $200 million has a tenor of 15 years.
YES Bank
Headquarters: Mumbai
CEO: Dinabandhu Mohapatra
Tagline: Experience your Expertise
European Investment Bank
President: Werner Hoyer
Headquarters: Luxembourg

AU Small Finance Bank inks pact with Sahaj e-Village
AU Small Finance Bank has announced signing an MoU with Sahaj e-Village for extending its banking service in remote areas. It has been planned to implement through Business Correspondent Agent (BC) model.
With this MoU, AU will provide banking at 90+ new locations that did not have banking access hitherto and expand our customer outreach to over 500+ locations by March 2018.
Sahaj e-Village Limited is a venture initiative of SREI Infrastructure Finance Limited (SIFL) that has been bridging the digital divide between urban and rural India under the flagship of NeGP of the Government of India.
AU Small Finance Bank
Headquarters: Jaipur, Rajasthan
Chairman: Mannil Venugopalan.

Shree Saini Crowned Miss India USA 2017
Washington resident Shree Saini has been crowned Miss India USA 2017. While Prachi Singh from Connecticut was declared the first runner-up at the pageant, which was held at the Royal Alberts Palace in Edison, New Jersey.
Shree Saini is an anti-bullying activist. At the beauty pageant, cancer surgeon Kavita Malhotra Pattani from Florida was declared Mrs India USA 2017. Swapna Mannam, 17, from New Jersey was crowned with Miss Teen India USA 2017.

Messi Beats Ronaldo To La Liga Best Player Award
Lionel Messi,has received La Liga’s top scorer and best player awards for the 2016-2017 football season.
Messi scored 37 goals in league action last season to earn his fourth Pichichi award for most goals in La Liga.Lionel an Argentine professional footballer who plays for Spanish club Barcelona and the Argentina national team.
This year Cristiano Ronaldo has received Ballon d’Or award.

International Human Solidarity Day-December 20
International Human Solidarity Day is observed on December 20.
The UN General Assembly, convinced that the promotion of the culture of solidarity and the spirit of sharing is important for combating poverty, proclaimed 20 of December as International Human Solidarity Day

Sunday, 17 December 2017

Current Affairs 17/12/2017


PM Inaugurates Tuirial Hydro Power Project in Mizoram
Prime Minister Narendra Modi inaugurated the 60-megawatt Tuirial hydroelectric power project in Aizawl, Mizoram. Now, Mizoram had become the third power- surplus state in the north-east after Sikkim and Tripura.The project has been built at a cost of ₹ 1,302 crore.
Tuirial HEPP has been constructed as a central sector project and implemented by North Eastern Electric Power Corporation (NEEPCO), under the administrative control of the Ministry of Power, Government of India.
The Prime Minister will also launch ‘MyDoNER App’ and inaugurated the Shillong – Nongstoin Rongjeng Tura road.
Capital: Aizawl
Chief Minister: Lal Thanhawla
Governor: Lt. General (Retd.) Nirbhay Sharma

President of India Lays Foundation Stone of ‘NYAYA GRAM’ Project of High Court of Allahabad
The President of India, Shri Ram Nath Kovind, laid the foundation stone of the Nyaya Gram project of the High Court of Allahabad.
It is necessary to strengthen judicial infrastructure and Nyaya Gram project would prove to be a milestone in fulfilling the requirements of the Allahabad High Court.

Indo-Maldives joint military exercise in Belagavi
The 14-day Indo-Maldives joint military exercise, ‘EKUVERIN-2017,‘began at the Maratha Light Infantry Regimental Centre, Belagavi, Bengaluru. It’s the eighth Indian joint military exercise with the Maldives.
The bilateral annual exercise is a joint military training between the Indian Army and the Maldives National Defence Force (MNDF). The seventh edition of the exercise was held at Kadhdhoo, Lammu Atoll, Maldives.
Capital: Male
Currency: Maldivian rufiyaa
President: Abdulla Yameen

Cabinet Signs MoU between India and Colombia in the field of agriculture and fisheries
The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the signing of a Memorandum of Understanding (MoU) between India and Colombia in the field of agriculture and fisheries.
The MoU is valid for five years and shall be extended for a subsequent periods of five years unless either party expresses its desire/intention to terminate it.
Under the MoU, a Joint-Working Group (JWG) will be constituted to prepare/finalize Work Plan for the next two years while specifying task/ activities to be undertaken during that period.
Capital: Bogota
Currency: Colombian peso
Prime Minister: Stefan Lofven

AIIB approves $335 mn loan for Bangalore Metro Rail Project
The Asian Infrastructure Investment Bank (AIIB) has approved a USD 335 million loan to finance a 100-percent electric metro rail project in Bangalore.
investment in the Bangalore Metro Rail Project, Reach 6 (R6) is AIIBs first metro project and its first joint financing partnership with the European Investment Bank (EIB).
The Asian Infrastructure Investment Bank is a multilateral development bank that aims to support the building of infrastructure in the Asia-Pacific region.
Headquarters: Beijing, China
President: Jin Liqun

ADB lowers India’s GDP forecast for FY18 to 6.7%    
The Asian Development Bank (ADB) has lowered India’s GDP forecast for the current fiscal by 0.3 percent to 6.7 percent.
Due to the effects of demonetisation in November 2016, transitory challenges of a new tax system, and some risks to agriculture stemming from a spotty monsoon in 2017, the economy is now expected to grow by 6.7 per cent, slower than the 7 per cent forecast in the last update.
Headquarters: Mandaluyong, Philippines
President: Takehiko Nakao

‘Youthquake’ named word of the year by Oxford Dictionaries
Oxford Dictionaries declared “Youthquake” as the word of the year for 2017, owing to what it calls a “political awakening” among young voters.
Youthquake is defined by Oxford Dictionary as “a significant cultural, political, or social change arising from the actions or influence of young people”.
Last year Oxford named “post-truth” as the word of the year, after the Brexit vote and Donald Trump’s victory in the U.S. presidential election.

Disney buys 21st Century Fox
Disney is buying most of 21st Century Fox. The $52.4 billion deal will combine two of the biggest players in Hollywood.Disney gets 20th Century Fox, Fox 2000, Fox Searchlight movie, television studios and Majority control (60%) of Hulu.
Disney is also buying cable channels FX and National Geographic. In owning these properties, Disney will be in a better position to compete with Netflix.

R Hemalatha takes Charge as Director of National Institute of Nutrition
R Hemalatha has been appointed as the new Director of the National Institute of Nutrition (NIN), Hyderabad. She is a medical graduate of Gandhi Medical College, Hyderabad.
She has served as secretary of the Nutrition Society of India, is a fellow of the National Academy of Medical Sciences and a fellow of the International Union of Nutritional Sciences.

FIH chief Batra elected as IOA President
Narinder Batra formally took over as the new president of the Indian Olympic Association after winning elections at the Annual General Meeting.
Rajeev Mehta was re-elected secretary general for a four-year term.
The Indian Olympic Association headquartered in New Delhi is the body responsible for selecting athletes to represent India at the Olympic Games, Asian Games and other international athletic meets and for managing the Indian teams at the events.

Joy Goswami gets Moortidevi Award 2017
Eminent Bengali poet Joy Goswami will be given the 31st Moortidevi Award for the year 2017. It is the first time the award will be given to a Bengali poet.
The committee, headed by poet and scholar Satya Vrat Shastri decided to confer the award upon Goswami for his poetry collection titled ‘Du Dondo Phowara Matro’.
The Moortidevi award consists of a Saraswati Statue, a Citation Plaque and cash award of Rupees 4 lakhs. The Moortidevi Award is an India literary award annually presented by the Bharatiya Jnanpith.

Borussia Dortmund’s Christian Pulisic named USA Player of Year
Midfielder Christian Pulisic (19-year) has been named as the U.S. male Player of the Year. He also belongs to U.S. Men’s National Team.
Christian Pulisic recorded six goals and four assists in nine matches, and was involved in 13 of the 17 goals.

India clinched 10 gold Medals at Commonwealth Wrestling Championship
India clinched 10 golds at Commonwealth Wrestling Championship, held in Johannesburg, South Africa. The India Greco Roman Style Wrestling Team that represented the nation at the championship won gold and silver medals in all ten weight categories.
The Gold medal winners are-Rajender Kumar in 55 kg, Manish in 60 kg, Vikas in 63 kg, Anil Kumar in 67 kg, Aditya Kundu in 72 kg, Gurpreet in 77 kg, Harpreet in 82 kg, Sunil in 87 kg, Hardeep in 97 kg, and Naveen in 130 kg category.

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