Prime Minister Narendra Modi inaugurates India’s first World Food fair
- Prime Minister Narendra Modi on Friday has approoved the international mega food event, ‘World Food India’ 2017 in New Delhi from Vigyan Bhavan. On the event of the appproval he said that, the Minister of Food Processing Industries, Harsimrat Kaur Badal, called this event ‘historic’.
- “Today is a historic day. 7,000 stakeholders from almost 60 countries have come under one roof. Over 11 billion dollars’ worth of Memoranda of Understanding (MoUs) are to be signed over the next three days,” Badal said.
- “As one of the fastest growing economies in the world, and having a 1.3 billion population base, a 600 billion dollar retail sector is said to treble to 1.3 trillion by 2020 and 70 per cent of this sector in food retail. India is the third largest economy in terms of purchasing power and our demand for food is said to double over the next five years,” Badal said.
- “World Food India platform will strengthen India’s position as a global food factory and is a positive step towards making the country food secure. India is expected to attract an investment of $10 billion in food processing sector and generate one million jobs in the next three years,” an official statement said.
President of India inaugurates 21st World Congress of mental health, calls for fighting stigma
- The President of India, Shri Ram Nath Kovind, has approved and given the approval for the 21st World Congress of Mental Health being organised by the World Federation for Mental Health in partnership with Caring Foundation and other institutions in New Delhi today (November 2, 2017).
- Speaking on the occasion, the President said, “The World Congress of Mental Health is taking place in India for the first time. And it has come here at an appropriate moment. Mental health issues are acquiring a serious magnitude in our country. Our National Mental Health Survey 2016 found that close to 14 per cent of India’s population required active mental health interventions.”
- The President said, “The biggest obstacle that mental health patients have to encounter is stigma and denial. This leads to the issue being ignored or simply not discussed. We need to talk about mental health issues and treat ailments such as depression and stress as diseases that can be cured – not as guilty secrets that must be pushed under the carpet. A major gap in combating the mental health challenge is that of human resources. India is a country with 1.25 billion people but just 700,000 doctors – less than one million. In the field of mental health, the scarcity is even more acute. There are only about 5,000 psychiatrists and less than 2,000 clinical psychologists in our country.”
- The President said, “India’s National Mental Health Programme is building 22 centres of excellence in the field of mental health. In parallel, the District Mental Health Programme has already covered 517 of the approximately 650 districts in India. It is taking the conversation about mental health to the grassroots of our society.”
India offers to share real-time maritime data
- India has signed the offer that is to share and give and take the intelligence of the maritime movements in the Indian Ocean in real-time with 10 Indian Ocean littoral States. This plan has been comes in the phase when the China’s increased presence in the Indian Ocean Region (IOR).
- “It was very positively received,” Navy Chief Admiral Sunil Lanba told The Hindu on Thursday at the Goa Maritime Conclave (GMC) when asked about the response to this proposal from the 10 littoral states present.
- “We have offered them to share real time data on movement in the Indian Ocean. Now let them review it and get them. This is not so much for conventional military purposes but to deal with non-traditional threats arising at sea,” a senior officer said.
- India has comes at the point of the fusion center, the officer added and this would be based on the Navy’s nerve centre for coastal surveillance and monitoring, the Information Management and Analysis Centre (IMAC) located outside the national capital.
- Welcoming the offer, a Navy Chief of one of the Indian Ocean littorals present said all countries should pitch in equally in the effort. “It has to be done equally by all nations, small or big. We have to work out modalities for the information exchange,” he said on the sidelines of the GMC.
- The Indian Navy is the naval branch of the Indian Armed Forces
- The President of India is the Supreme Commander of the Indian Navy
- The Chief of Naval Staff, a four-star Admiral, commands the navy
- Vice Chief of the Naval Staff (VCNS): Vice Admiral Karambir Singh, AVSM
- Chief of the Naval Staff (CNS): Admiral Sunil Lanba, PVSM, AVSM, ADC
- Deputy Chief of the Naval Staff (DCNS): Vice Admiral G. Ashok Kumar, AVSM, VSM
- Motto: शं नो वरुणः (Sanskrit); Sham No Varunaḥ (IAST); May the Lord of the Water be auspicious unto us (English)
- Headquarters: New Delhi
- Engagements: World War II, World War I
World’s highest motorable road constructed in Ladakh
- In the term of the, the Border Roads Organisation or BRO has constructed the world’s highest motorable road in Ladakh region of Jammu and Kashmir that has passed by the Umlingla Top at a height of over 19,300 feet. This step has taken by the under ‘Project Himank’ of the organisation.
- “Being close to Hanle, the 86km long strategic road connects Chisumle and Demchok villages, located 230 Kms from Leh. These villages are stone’s throw away from the Indo-China border in eastern sector,” a spokesman of BRO said.
- “During peak summers, temperature hovers around minus 10-20 degrees Celsius, and in winters, it dips to minus 40 degrees. Oxygen level at the altitude is 50 per cent less than at normal places,” Mr Purvimath said.
- “Efficiency of machines and manpower declines by 50 per cent due to harsh climate and less oxygen level. Also, machine operators have to come down every 10 minutes for oxygen,” he said.
- “Taking equipment at such a height, repairing and maintaining it is a major task since equipment face a lot of breakdowns,” he said.
- Mr Purvimath said, “Such a construction does not come without a cost, but given the national and strategic importance of the road, our men and machinery worked overnight to meet the targets set out by Director General, Border Roads,”
- Pardeep Raj said, “Acclimatisation of men is done at three stages- Leh, Shakti and Numa- before being inducted into the sector. Physical and mental fitness of men is emphasised upon for working in the area as the working season is limited in the region,” he said.
India slips 21 slots on WEF Gender Gap index 2017
- India has comes and placed at 21 place by slip in the World Economic Forum’s (WEF) Global Gender Gap index to 108, that is the step behind its neighboring countries, China and Bangladesh, primarily due to less participation of women in the economy and low wages.
- “A decade of slow but steady progress on improving parity between the sexes came to a halt in 2017, with the global gender gap widening for the first time since the WEF’s Global Gender Gap Report was first published in 2006,” it said.
- Others in the top 10 include Norway (2nd), Finland (3rd), Rwanda (4) and Sweden (5), Nicaragua (6) and Slovenia (7), Ireland (8), New Zealand (9) and the Philippines (10).
- “India’s greatest challenges lie in the economic participation and opportunity pillar where the country is ranked 139 as well as health and survival pillar where the country is ranked 141,” the WEF said.
- “With more than 50 years having passed since the inauguration of the nation’s first female prime minister in 1966, maintaining its global top 20 ranking on the political empowerment sub-index will require India to make progress on this dimension with a new generation of female political leadership,” the report said.
- “In India, the workplace gender gap is reinforced by extremely low participation of women in the economy (136 out of the total 144 countries covered) and low wages for those who work (136th ranking for estimated earned income),” the WEF said, adding that “on average, 66% of women’s work in India is unpaid, compared to 12% of men’s“.
- “Competitiveness on a national and on a business level will be decided more than ever before by the innovative capacity of a country or a company. Those will succeed best who understand to integrate women as an important force into their talent pool,” said Klaus Schwab, founder and Executive Chairman, World Economic Forum (WEF).
- The World Economic Forum is a Swiss nonprofit foundation, based in Cologny, Geneva
- Recognized by the Swiss authorities as an international body, its mission is cited as “committed to improving the state of woorld”
- Headquarters: Cologny, Switzerland
- Founder: Klaus Schwab
- Founded: 1971
- Formerly called: European Management Forum
- Purpose: Economic
- Motto: Committed to improving the state of the world
7th Asia Ministerial Energy Round table held in Bangkok
- The Minister of Petroleum & Natural Gas and Skill Development & Entrepreneurship, Shri Dharmendra Pradhan has going to take the visit to the Bangkok,Thailand from 01-02nd November 2017 to participate in the IEF 7thAsian Ministerial Energy Roundtable (AMER7).
- India is the head of the International Energy Forum (IEF) which has been given the boost to the AMER – a biennial event bringing together Energy Ministers and experts from Asian countries.
- At the 7th AMER, Minister will participate in the Ministerial Roundtable and speak on “Natural Gas: “Overcoming Market and Policy Hurdles to the Golden Age of Gas” along with Energy Ministers from Ministers Qatar, Brunei and Senior Representatives from Ministry of Economy, Trade and Industry (METI) of Japan and Economic Research Institute for ASEAN and East Asia (ERIA). Energy Ministers from Saudi Arabia, Russia, UAE, Thailand, Iraq, Qatar, Kuwait, Bangladesh, Malaysia and Brunei are also participating in the AMER.”
- In the recent of the time India has makes its important role in the Oil and Gas sector. On 18th October 2017, Minister Pradhan participated in the 6th Annual LNG Producers Consumer Conference held in Tokyo, Japan and called for establishing a Liquid, Flexible and Global LNG Market between the countries providing a framework to cooperate in facilitating flexibility in LNG contracts, abolition of Destination Restriction Clause and also explore possibilities of cooperation in establishing reliable LNG spot price indices reflecting true LNG demand and supply. Shri Pradhan, during his meetings and interactions with OPEC Secretary General, has called for replacing the ‘Asian Premium’ with ‘Asian Discount’.
- The Ministry of Petroleum and Natural Gas is a ministry of the Government of India
- It is responsible for the exploration, production, refining, distribution, marketing, import, export, and conservation
- Website: petroleum.nic.in
- Jurisdiction: India
- Headquarters: Shastri Bhavan, New Delhi – 110 001
- Minister of state independent charge: Dharmendra Pradhan
- Programs: Corpus Fund Scheme, Delhi Kerosene Free Scheme, Pahal
- Agency executive: Dharmendra Pradhan, Cabinet Minister
‘Fake news’ named word of the year 2017
- President Donald Trump has favorite phrases, “fake news”, has been named “word of the year” by dictionary publisher Collins.
- By announcement of the winner, U.K.-based Collins Dictionary said the term “fake news” saw an “unprecedented” rise with usage of the term increasing 365 percent since 2016.
- “‘Fake news’, either as a statement of fact or as an accusation, has been inescapable this year, contributing to the undermining of society’s trust in news reporting: given the term’s ubiquity and its regular usage by President Trump, it is clear that Collins’ Word of the Year ‘fake news’ is very real news,” she said.
- Trump has said in the recent that he wants the comes in the coins with the reign, reportedly telling Mick Huckabee (who also ran for the Republican presidential nomination) in an interview that: “I guess other people have used it (the term ‘fake’ in conjunction with ‘media’) perhaps over the years, but I’ve never noticed it. And it’s a shame. And they really hurt the country,” he said.
- “During the 2016 U.S. presidential campaign pundits noted the large number of websites broadcasting false stories about the candidates under the guise of news. Then in January 2017 Donald Trump dismissed reports from the CNN news agency about his alleged links with Russia as ‘fake news’. Claims that potentially damaging stories were ‘fake news’, and enquiries into the proliferation of such stories were a major part of the news agenda in 2017,” the dictionary publisher noted.
Banking and Finance
RBI asks large borrowers to obtain 20-digit Legal Entity Identifier unique code
- In the term to remove to risk of the management post the global financial crisis, the RBI on Thursday said it has decided that corporate borrowers having exposure of Rs 50 crore and above will have to mandatorily obtain the 20-digit Legal Entity Identifier (LEI) from banks.
- “It has been decided that the banks shall advise their existing large corporate borrowers having total exposures of Rs 50 crore and above to obtain LEI,” an RBI notification said.
- Listing the timeline for implementing the LEI, the RBI said, “Borrowers with fund and non-fund exposure of Rs 1,000 crore and above will have to get the unique code by March 31, 2018. Those having exposure between Rs 500 crore and Rs 1,000 crore have to obtain the LEI code by June 30 and those having between Rs 100 crore and Rs 500 crore by March 31, 2019.”
- “It has been decided that the banks shall advise their existing large corporate borrowers having total exposures of Rs 50 crore and above to obtain LEI,” the RBI said in a notification.
- The RBI said,” A separate roadmap for borrowers having exposure between Rs 5 crore and up to Rs 50 crore would be issued in due course. Borrowers who do not obtain LEI as per the schedule are not to be granted renewal/enhancement of credit facilities”,
- “Entities can obtain LEI from any of the local operating units (LOUs) accredited by the Global Legal Entity Identifier Foundation (GLEIF) – the entity tasked to support the implementation and use of LEI,” the RBI said.
Yes Bank signs MoU with Government for Rs 1,000 crore financing
- Private sector lender Yes Bank on Friday has signed the MoU with the government to provide Rs 1,000 crore financing for food processing projects. In this there has been the fund has provided to the 100 food processing projects with an average ticket size of Rs 10 crore each, the bank said in a statement.
- Yes Bank Managing Director and CEO Rana Kapoor said: “India’s food Processing industry is a vital economic growth driver and is playing a key role in doubling farmer’s value added income and ensuring food security.”
- “Over 150 applications were received, of which the top 20 have been selected on the basis of scalability and enterprising innovations across six areas namely products, technologies, food safety, supply chain, cold chain & packaging,” the bank said.
- “At World Food India event, Yes Bank is anchoring Food Processing Start-Up Awards institutionalized along with the government to boost start-up ecosystem in the country. Over 150 applications were received, of which the top 20 have been selected on the basis of scalability and enterprising innovations across six areas namely products, technologies, food safety, supply chain, cold chain & packaging, the bank said. Top three promising and innovative startups will be awarded by the President of India during the valedictory session of the event on November 5,” it added
- Yes Bank is India’s fifth largest private sector bank, founded by Rana Kapoor and Ashok Kapur in 2004
- Yes Bank is the only Greenfield Bank licence awarded by the RBI in the last one decade
- Customer service: 1800 2000
- Headquarters: Mumbai
- CEO: Rana Kapoor (2004–)
- Founder: Rana Kapoor
- Founded: 2004
AU Small Finance Bank gets RBI nod for Scheduled Commercial Bank
- AU Small Finance Bank has received Reserved Bank of India (RBI) approval for the set up with the Scheduled Commercial Bank. This bank has now included itself in the Second Schedule of Reserve Bank of India Act, 1934.
- Post acquiring scheduled commercial bank status, AU Small Finance Bank has been able with the borrowing and lending with RBI under Liquidity Adjustment Facility (LAF) and Marginal Standing Facility (MSF).
- Commenting on the development, Sanjay Agarwal, MD & CEO, AU Small Finance Bank said, “We are extremely thankful to the central bank for extending Schedule Commercial Bank status to us. It will significantly help us to broaden our liabilities and treasury operations and shall provide more liquidity avenues. It will also help AU Small Finance to widen its market perspective in terms of government business and acquire liability business at relatively lower costs.”
- AU Small Finance Bank started its banking operation from April 19 this year. The development has not only with the able commorating with AU Bank’s services and liability capabilities but also influence its growth prospects in future, a statement issued by the bank said..
Science and Technology
Indian Army releases Integrated Quarter Master Package Software Application
- The Indian Army today launched a software application to manage logistics at unit level with speed, accuracy and transparency. The Integrated Quarter Master Package or IQMP, has developed the Army Software Development Centre along with TCS, was formally inaugurated by Vice Chief of Army Staff Lt. Gen. Sarath Chand.
- “The application can be dynamically configured to meet specific requirements of army units and is capable of sharing information and data with other software applications in the domain of logistics management,” an official statement said.
- “It will help in effective logistics management and decision-making, thereby assisting the Army units to be battle-ready at all times,” the statement said.
- The army said, “The new application will play an important role in achieving automation of the Indian Army and prove to be a significant milestone towards a “digital army” in consonance with the Digital India initiative of the government.”
- The Indian Army is the land-based branch and the largest component of the Indian Armed Forces
- The President of India is the Supreme Commander of the Indian Army, and it is commanded by the Chief of Army Staff, who is a four-star general
- Motto: “Service Before Self”
- Headquarters: New Delhi
- Founded: 15 August 1947, India
- Color: Gold, red and black
- Part of: Indian Armed Forces
- Transports: HAL Dhruv, Aérospatiale Alouette III, Aérospatiale SA 315B Lama
India’s K Srikanth achieves career-best World No 2 ranking
- Kidambi Srikanth has got the high ranking of number two in the BWF rankings released on Thursday, he has placed the two high rank by displacing the Korea’s Son Wan Ho from the second spot. In other term, HS Prannoy too achieved a career-best ranking of number 11 as he climbed up one spot from last week’s rankings.
- Reigning World champion Viktor Axelsen has again got the world ranking by leading the world rankings with 77930 points. Srikanth, at 73403, is expected to next take part in the China Open Superseries, to be held in two weeks, with a chance to overtake the Dane. By interestingly it has held at the China Open in 2014 that Srikanth had won his first Superseries title. Going into the tournament unseeded, he had stunned then World No. 1 Lin Dan to win his maiden title.
- Among other Indians, Praneeth (16), Sameer Verma (18) and Ajay Jayaram (22) continued to be a part of the top 25. In the women’s singles, PV Sindhu (2) and Saina Nehwal’s (11) positions remained unchanged.
Awards and Recognitions
Mukesh Ambani becomes Asia’s richest person
- Reliance Industries Limited chairman Mukesh Ambani on Wednesday has become the Asia’s richest man, according to Forbes’ real-time list of the world’s billionaires.
- “To put it in context, this is equal to the entire GDP of the former Soviet republic of Azerbaijan, as per World Bank Data 2016 estimates,” Forbes said. Wipro’s Azim Premji has placed at second, while the Hinduja family was ranked third. In the new commers of the richest airline tycoon Nusli Wadia, ranked 25 on the list.
- Reliance Industries Limited has become the first Indian company to touch Rs 6 lakh crore in market capitalisation after its shares hit a new lifetime high on October 26. The stock price, which had risen over two times in the last one year, had touched Rs 958 on that day.
- On October 13, the company had reported a 12.8%-rise in its net profit for the July-September quarter, compared to the same period in 2016. The net profit was Rs 8,097 crore during the quarter.
‘Veronica Mars’ actor Bradley Bufanda, 34, dies by suicide in Los Angeles
- Actor Bradley Bufanda, who is best known for his role on the TV shows “Veronica Mars,” was found dead early Wednesday of what authorities say was suicide at the age of 34 years.
- “Investigators think the 34-year-old jumped from a multistory building near the Park La Brea apartments. His body was discovered by a transient just after midnight, and he was pronounced dead at 12:40 a.m. Wednesday,” authorities said.
- “The Los Angeles County Coroner’s Department determined the cause of death was blunt force trauma,” department spokesman Ed Winter said.
- Bufanda was known for his recurring role on the teen detective show “Veronica Mars,” in which he appeared from 2004 to 2006. He also had roles on “CSI: Miami,” “Malcolm in the Middle” and “Days of Our Lives.”
- “We are completely devastated, for he was an extremely talented young actor and wonderful, caring human being,” Bufanda’s representative, Kirsten Solem, told the Hollywood Reporter. “He was reviving his career having just completed two movies, and we are shocked and saddened by his passing,” Solem said.
- Rob Thomas, the creator of “Veronica Mars,” said on Twitter: “I’m heartbroken to hear of Brad Bufanda’s passing. He did great work on Veronica Mars. My heart goes out to his family.”
- Kanakadasa Jayanthi that is celebrated by the peoples of the Karnataka in general and Kuruba Gowda community in particular. This celebration has been celebrated annualy on the date of birth anniversary of the great poet and saint shri Kanaka Dasa.
- It give the tribute to the great saint, the Government of Karnataka has declared the birthday of Kanaka Dasa as a state holiday.
- At this day all the schools and colleges and the governmental offices celebrates the birth anniversary of Shri Kanaka Dasa as a tribute to one of the great social reformers of Karnataka. The 521 anniversary celebrated in 2015.