Current Affairs Today – February, 10th, 2018 | Latest News and Updates

INDIAN AFFAIRS

5th South Asia Region Public Procurement Conference Held in New Delhi

  1. The Union Minister of Finance and Corporate Affairs, Shri Arun Jaitley stressed on the importance of procedural fairness in public procurement and award of contracts. The Finance Minister said that this could be ensured through transparency and fairness that enable a State to act in the best interest for its citizens in terms of price, quality and service delivery and help avoid elements of nepotism and corruption in public procurement.
  2. The Finance Minister highlighted the special measures taken by the Government of India to bring in greater transparency, fairness and efficiency in public procurement through a series of measures including launch of the Government e-Marketplace (GeM) for online purchases of common use items.
  3. The Finance Minister mentioned that in addition to having its own rules and regulations relating to public procurement in the Government, the layers of accountability at various levels in the Government have also been tightened.
  4. The Finance Minister, Shri Jaitley was delivering the Inaugural Address after inaugurating the 5th South Asia Region Public Procurement Conference here in New Delhi. He noted the evolution of public procurement in the last century and emphasized its significance in delivery of public services in democratic societies in the larger interest of the citizens. Shri Jaitley said that as South Asia is the fastest growing region, the relevance of public procurement is of key importance to all.

 

Arunachal Pradesh CM Lays Foundation Stone for Rhododendron Park

  1. Arunachal Pradesh Chief Minister Pema Khandu on Thursday has laid the foundation stone of a Rhodendron Park in Tawang district according to an official release.
  2. Speaking on the occasion the chief minister has did the request to the Army and Border Roads Organisation (BRO) to sensitise their personnel in carrying out Rhodo conservation effort as the high altitude border areas are beyond the reach of forest officials, it said.
  3. Khandu has said that it has expected that the park would not only add to the scenic enhancement of the city, but would also offer an opportunity for conservation of rhodo species, which are under serious threat due to various ongoing road and land acquisition projects by the Army and BRO.
  4. The park has been created in a total area of 1.15 hectares and would be partly funded under border area development programme (BADP).

 

HAL Develops First Hawk-i Flight

  1. The Hindustan Aeronautics Limited has created the its first flight of Hawk-i with indigenous Real Time Operating System (RTOS), a statement said on Wednesday.
  2. Hawk-i is the first indigenous RTOS, which has developed in India from scratch and certified by Center for Military Airworthiness and Certification (CEMILAC), HAL Chairman T.
  3. Suvarna Raju said, “The RTOS is the system software which provides a standard run-time environment for real-time applications execution in a safe and reliable manner.”
  4. “The RTOS is a key technology for concurrent execution of multiple applications and optimal use of hardware resources which is of paramount importance for increased complexity of modern avionics software,” Raju said.

 

First Ever Chat Based Job Search App ‘Empzilla’ Launched

  1. Taking prime minister Narendra Modi’s Digital India startup with the, a chat based job search mobile app ‘Empzilla’, that is very first time in the coiuntry, has been launched that will do away with existing limitations of employers and job seekers making selection process quick and cost effective.
  2. “We realized there were limitations in the way job seekers were communication with employers so far. To do away with those limitations, we are launching this mobile app, which will revolutionize the way communications happens between job lookers and recruiters. This can easily be downloaded from Google Playstore and is free. It will also take the government’s Digital India initiative forward,” said chairperson Empzilla, Akash Attray.
  3. “We are excited that Digital India inspiring people to come out with new offerings that not only seek to solve some of the existing problems but also saves costs. I am sure Empzilla app will become popular in no time as it obviates some of the current problems relating to communication between recruiters and job seekers. With deeper internet penetration, Mobile Apps are increasingly being used by people even in smaller cities,” said National General Secretary, Bhartiya Janta Party, Arun Singh.
  4. Other dignitaries who were present in the event were Priyanka Rawat, Member of Parliament, Dr BBL Madhukar, Former Chairman, CMD MMTC, Raghunath, Assistant Commissioner of Income Tax, Sanjay Goel, President, ONGC, Sameer Anjan and Music Band.

 

INTERNATIONAL AFFAIRS

Dubai Retains Rank as World’s Busiest International Airport in 2017

  1. Dubai International Airport has announced that it has ranked itself at the position of the No 1 ranking as the world’s busiest airport for international travel, after at the number of some 88.2 million passengers in 2017. The airport offered the statistics in a statement released today.
  2. This report has been declare after the saw 83.6 million passengers in 2016. Dubai Airports CEO Paul Griffiths says he expects the airport to see 90.3 million passengers in 2018.
  3. The London Heathrow as the world’s busiest airport for international traffic has passed Dubai International Airport in 2014. In this there has been maintained the title ever since, with some 90 airlines flying into skyscraper-studded Dubai, a gateway for East-West travel. The airport is home to the long-haul carrier Emirates. Hartsfield-Jackson Atlanta International Airport in Georgia remains the world’s busiest airport overall.

 

Bermuda Becomes 1st Country in World to Abolish Same-Sex Marriage

  1. The Caribbean atoll of Bermuda has created the history by putting the very first ever first nation in the world to revoke its legalisation of same-sex marriage.
  2. “That Bill has been democratically passed by the Parliament of Bermuda, and our relationship with the overseas territories is based on partnership and respect for their right to democratic self-government,” UK Prime Minister Theresa May said.
  3. Ms Baldwin insisted British overseas territories were “separate, self-governing jurisdictions with their own democratically elected representatives that have the right to self-government”.
  4. “Gay and lesbian Bermudians have been told that they aren’t quite equal to everyone else. They have been told that they don’t deserve – this is the word being used – the full marriage rights that other Bermudians deserve.”
  5. The island’s governor, John Rankin, issued a statement on Wednesday saying: “After careful consideration in line with my responsibilities under the constitution, I have today given assent to the Domestic Partnership Act.”
  6. Ty Cobb, director of Human Rights Campaign Global, said: “Governor Rankin and the Bermuda Parliament have shamefully made Bermuda the first national territory in the world to repeal marriage equality.”
  7. Walton Brown, Bermuda’s minister of home affairs, said: “The Act is intended to strike a fair balance between two irreconcilable groups in Bermuda, by restating that marriage must be between a male and a female, while at the same time recognising and protecting the rights of same-sex couples.

 

Forbes Releases its First-Ever Cryptocurrency Rich List

  1. Forbes has released its first ever list of of the year of the richest people in cryptocurrency, which is topped by Ripple co-founder Chris Larsen, with an estimated crypto net worth of USD 7.5-8 billion.
  2. “We based our numbers on estimated holdings of cryptocurrencies (a few provided proof), post-tax profits from trading cryptoassets and stakes in crypto-related businesses, and locked in our estimates using prices on January 19, 2018,” Forbes said.
  3. “The government does not consider cryptocurrencies legal tender…and will take all measures to eliminate use of these cryptoassets in financing illegitimate activities or as part of the payment system,” Jaitley had said.
Name Title Crypto Net Worth
Chris Larsen Cofounder, Ripple $7.5 billion – $8.billion
Joseph Lubin Cofounder, Ethereum and Founder, Consensys $1 billion – $5 billion
Changpeng “CZ’ Zhao CEO, Binance $1.1 billion – $2 billion
Tyler and Cameron Winklevoss Cofounders, Winklevoss Capital $900 million – $1.1 billion each
Matthew Mellon Individual investor $900 million – $1 billion
Brian Armstrong CEO, Coinbase $900 million – $1 billion
Matthew Roszak Cofounder, BloQ and Founder, Tally Capital $900 million – $1 billion
Anthony Di Iorio Cofounder, Ethereum and Founder, Jaxx and Decentral $750 million – $1 billion
Brock Pierce Chairman, Bitcoin Foundation and Advisor, Block.One $700 million – $1 billion
Michael Novogratz CEO, Galaxy Digital

 

BANKING AND FINANCE

RBI to Link Base Rate with MCLR

  1. In this year from the April 1, banks has been do the link part of the MCLR in order for the bench of the quicker transmission of policy rates to existing loan interest rate to borrowers, the Reserve Bank of India said on Wednesday.
  2. “With the introduction of the MCLR system, it was expected that the existing Base Rate linked credit exposures shall also migrate to MCLR system,” RBI said in the statement on Developmental and Regulatory Policies.
  3. “Since MCLR is more sensitive to policy rate signals, it has been decided to harmonise the methodology of determining benchmark rates by linking the Base Rate to the MCLR with effect from 1 April 2018,” the central bank said.
  4. RBI deputy governor N.S. Vishwanathan said, “We have been mentioning in the earlier policy that we are concerned about inadequacy of monetary transmission to the base rate and about large number of accounts still being under the base rate regime.”
  5. Clarifying that the RBI is harmonizing and not equalizing the MCLR with base rat, he added, “We are now harmonising the calculation of base rate with the MCLR so that the responsiveness of the credit portfolio to monetary policy signals is not hindered by interest rate on large part of bank portfolio being linked to base rate.”

 

RBI to Set up Ombudsman for Non-Banking Finance Companies

  1. In the term to grow the customer grievance redressal mechanism for Non-banking finance companies (NBFCs), Reserve Bank of India (RBI) on Wednesday announced it would be setting up an ombudsman for NBFCs.
  2. Kanungo told reporters here following central bank’s last monetary policy review of 2017-18 that the “Ombudsman Scheme will be operationalised by the end of this month.”
  3. “The banking ombudsman scheme has been working well and has been accepted as a preferred mode of customer grievance redressal by public at large, which is cost free and expeditious.
  4. “It was found that since in the NBFCs complaints were increasing, and there is no such redressal mechanism, it has been decided that we will have a scheme for the non-banking financial sector also,” he said.

Books

HM Rajnath Singh releass book titled “Mere Sapnon ka Bharat”

  1. Union Home Minister Rajnath Singh on Thursday has released a book titled “Mere Sapnon ka Bharat”.
  2. In the term of the interviews of former Prime Minister Atal Bihari Vajpayee by Tarun Vijay, an ex-MP, at a function in New Delhi.

AWARDS & RECOGNITION

Rear Admiral Mukul Asthana Takes Over as Assistant Chief of Naval Staff (Air)

  1. Rear Admiral Mukul Asthana has been given the post of the Assistant Chief of Naval Staff (Air), the Navy announced on Thursday.
  2. In the announcement there has been the order has been placed that the Rear Admiral Shishir C Verma has taken over as the Assistant Chief of Naval Staff (Special Submarine Projects) at the Integrated Headquarters of the Defence Ministry (Navy) here.
  3. Rear Admiral Asthana is an experienced pilot who has flown four types of aircraft and has held operational and supervisory assignments in various naval air squadrons.
  4. in that there has been the command has been given INS Rajali, a premier Naval Air Station, from August 2009 till December 2010, during which he oversaw the implementation of plans for the induction of the Boeing P8I Long Range Maritime Reconnaissance aircraft.

OBITUARY

Actor John Mahoney Passes Away

  1. John Mahoney, the gravel-voiced, Tony Award-winning, British-born actor who came to embody all-American grass-roots fatherhood on the hit sitcom “Frasier,” died at the age of 77 years on Sunday in Chicago.
  2. “I had to do something or I was just going to be a miserable, complaining, crabby old man,” Mr. Mahoney told NWI Times, an Indiana publication, in 2011. He had enjoyed doing children’s theater long ago, so he decided to give acting a try. And, as he said in the same interview, “Things fell into place.”
  3. “I can walk to all sorts of good places,” he said, describing the restaurant scene in his longtime Oak Park neighborhood, “where the waiters and waitresses don’t want me to read their screenplays.”

 

Sandeep Kumar

Hi Guys, I am Sandeep Co-founder of IASpaper and UPSCToday Staying in Mumbai (India) and pursuing graduation in Computer Science and Engineering from Mumbai University. I love helping Aspirants. You may join me on Facebook

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