Current Affairs Today – September, 12th, 2017 | Latest News and Updates

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INDIAN AFFAIRS

MoS Jitendra Singh to inaugurate North East Calling festival in New Delhi

MoS Jitendra Singh to inaugurate North East Calling festival in New Delhi

  1. The Union Minister of State (Independent Charge) of the Ministry of Development of North Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances & Pensions, Atomic Energy and Space, Dr Jitendra Singh has been set up the the North East Calling” festival, at there on Saturday.
  2. The Ministry of Development of North Eastern Region (DoNER), Government of India have established the “North East Calling” event under its Destination North East series of this year. The main aim of this event is to promote the art, culture, heritage, cuisine, handicrafts, business and tourism of North East India.
  3. The event of the closing ceremoney has been done on Sunday evening. In this event the Cabinet Secretary Shri P K Sinha had been the Chief Guest at the Closing Ceremony.
  4. During the Closing Ceremony, winners of various contests (Photography and Caption Contest, video contest, Choreography Contest for Colleges on the theme Connect NE”, Quiz Competition for schools and colleges, Best North-Eastern attire in the crowd, Home Chef Contest) will be awarded.

KEYS:

  1. The Ministry of Development of North Eastern Region is a Government of India ministry, established in September 2001, which functions as the nodal Department of the Central Government
  2. Formed: September 2001
  3. Jurisdiction: India
  4. Headquarters: Vigyan Bhavan Annexe, Maulana Azad Road, New Delhi – 110 011
  5. Minister of state independent charge: Jitendra Singh

 

West Bengal leads in new tax registration under GST regime

West Bengal leads in new tax registration under GST regime

  1. The national average of the GST is the 23%, in that there is the West Bengal which has done the peak of the top that is the 77% in new tax registration under the GST regime in India. The Mr Arvind Singh, the new principal commissioner, GST & CX, eastern region at a session titled “Democratisation of Services” on the second of the two-day ICT East organized by CII here on Friday, announces this.
  2. “GST, which is technology driven, is eliminating human interfaces. Not only has it brought a wonderful change in the entire psyche of businesses, it has given birth to a whole new vocabulary. Words such as OTP and digital signature have emerged. The challenge is to make sure even small business people understand these parlances,” Mr Singh said, adding, “Democratisation of services means larger participation of the common people, not just the big ones. Please make particular efforts to popularize these words.” That GST is technology driven is itself a “huge opportunity” for businesses, Mr Singh observed.
  3. Earlier, Mr Dipankar Chakrabarti, Executive Director – Advisory Risk & Quality Management Leader, PwC India, who chaired the session, said democratization means that the masses must get the advantage of the new technology. “People must be provided with an easy way to understand data. ” It requires sharing information in a form that everyone can read and understand. It requires timely communication about what is happening in a relevant and personal way. It means giving people the stories that are trapped in the data so they can do something with the information,” he said.
  4. The other speakers at the session were Mr Dhruv Singhal, India Head, Solution Architecture, Amazon Internet Services Pvt Limited; Mr Nitin Sawant, Managing Director – Advanced Technology Architecture Practice, Accenture India; Mr Vir Inder Nath, CEO – West Bengal & Odisha Circle, Bharti Airtel Limited; and Mr Sayandeb Banerjee, Founder & CEO, The Math Company.

KEYS:

  1. West Bengal is a state in eastern India, between the Himalayas and the Bay of Bengal
  2. Its capital, Kolkata (formerly Calcutta), retains architectural and cultural remnants of its past as an East India Company trading post and capital of the British Raj
  3. The city’s colonial landmarks include the government buildings around B.B.D. Bagh Square, and the iconic Victoria Memorial, dedicated to Britain’s queen.
  4. Districts: 23
  5. Capital: Kolkata
  6. HDI rank: 9th (2011)

 

Government to launch ‘School Chalo Abhiyan’ scheme to enroll 80 lakh kids

  1. Union Human Resource Development Minister Prakash Javadekar on Friday has announced that the government in that there will be the program for next year to enrol “70-80 lakh” students in the country who are out of schools.
  2. “There are about 70-80 lakh children who are not going to schools. We have thought of a plan to address the problem… it will be known as ‘school chalo abhiyan’,” Javadekar said while addressing a seminar here on International Literacy Day.
  3. “Many states have started it already. From next year onwards we will launch it in the entire country with more planning.”
  4. “This is not only the time for literacy in terms of reading and writing, but of digital literacy as well. And people have moved in that direction already. Rural India alone has 70 crore mobile phones,” said the Minister.
  5. “When all these challenges are met, we will be able to fulfil Prime Minister’s dream of 100 per cent literacy, digital and otherwise, by 2022. The problem is that we do not read… Thomas Monroe (a British administrator) had written an account in the year 1810, in which he mentioned that India had 100 per cent literacy. We have a lot to do now. I am new to the Ministry but we will plan on what can be done to bring complete literacy.” he said.

KEYS:

  1. The Ministry of Human Resource Development, formerly Ministry of Education, is responsible for the development of human resources in India
  2. Website: mhrd.gov.in
  3. Formed: 26 September 1985
  4. Jurisdiction: India
  5. Headquarters: Shastri Bhawan, Dr. Rajendra Prasad Road, New Delhi
  6. Cabinet minister: Prakash Javadekar
  7. Minister of state: Upendra Kushwaha, Mahendra Nath Pandey

 

 

INTERNATIONAL AFFAIRS

Jordan launches project to grow crops from seawater

Jordan launches project to grow crops from seawater

  1. Jordan’s King Abdullah II and Crown Prince Haakon of Norway, which has the most contribution of the $3.7 million cost, inaugurated the facility in the kingdom’s Red Sea port city of Aqaba.
  2. Haakon told reporters he was “impressed by the way innovative ideas have been translated into a plant the size of four football fields.”
  3. The facility, part of the Sahara Forest Project (SFP), produces “energy, freshwater and food and all this in an arid desert,” he said.
  4. “This is just the start,” said Joakim Hauge, head of SFP. He said the organization selected Jordan because it has the required abundance of sunlight and seawater.
  5. “Future adaptation to extreme droughts in Jordan will be an immense challenge,” said the report by the university’s School of Earth Science.”The projected negative impacts of more severe droughts of greater duration calls for essential alternatives.”

 

Vice President Pence: Trump greatly concern about Irma after briefing

Vice President Pence: Trump greatly concern about Irma after briefing

  1. S. Vice President Mike Pence has did the announcement on Sunday that President Donald Trump had did the full help with the Hurricane Irma at it batters the Florida coast and that his latest briefing on the storm caused him great concern.
  2. “Clearly the briefing that we received at Camp David this morning caused the president to have great concern for the impact of the impact of this storm moving up the west coast and the potential through heavy winds and storm surge to compromise cities and compromise lives,” Pence said during a visit to the Federal Emergency Management Agency’s headquarters with members of Trump’s Cabinet.
  3. “Wherever Hurricane Irma goes, we’ll be there first,” Pence said. “We’ll be there with resources and support, both to save lives and to help to recover and rebuild these states and these communities.”
  4. “The president’s been monitoring this storm 24/7,” Pence said, urging residents in Irma’s path to heed warnings from local officials. “The people of South Florida, the people of the entire state should know: We are with you.”

 

China is planning to implement a ban on fossil fuel cars

  1. China has been set the deadline for the control and the store of the fossil-fuel-powered vehicles, and for become the biggest market to do so in a move that will accelerate the push into the electric car market led by companies including BYD Co. and BAIC Motor Corp.
  2. “The implementation of the ban for such a big market like China can be later than 2040,” said Liu Zhijia, an assistant general manager at Chery Automobile Co., the country’s biggest passenger car exporter that unveiled a new line for upscale battery-powered and plug-in hybrid models at the Frankfurt motor show last week. “That will leave plenty of time for everyone to prepare.”
  3. “This will ask everyone, from energy and technology sectors as well as traditional automakers, to change to the lane to develop new powertrains,’’ said Zhang. “It’s hard to say who can be the winners at the moment. All of us should stand the test of speed and endurance in this run.’’

KEYS:

  1. China is a populous nation in East Asia whose vast landscape encompasses grassland, desert, mountains, lakes, rivers and more than 14,000km of coastline
  2. Capital Beijing mixes modern architecture with historic sites such as the Forbidden City palace complex and Tiananmen Square
  3. Shanghai is a skyscraper-studded global financial center
  4. The iconic Great Wall of China runs east-west across the country’s north
  5. Capital: Beijing
  6. Currency: Renminbi
  7. Official script: Simplified Chinese
  8. President: Xi Jinping
  9. Recognised regional languages: Mongolian; Tibetan; Uyghur; Zhuang; various others

 

                          

BANKING & FINANCE

PACL, 4 directors fined Rs 2423 crore, highest ever Sebi penalty on a defaulter

PACL, 4 directors fined Rs 2423 crore, highest ever Sebi penalty on a defaulter

  1. Market regulator Securities and Exchange Board of India (Sebi) has been announced for the impose of the Rs. 2,423 crore fine on PACL Ltd and its four directors for illegal fund mobilisation by the making of the groups and that has been comes under the Rs. 49,000 crore from the public.
  2. While the group, which had collected money in the name of real estate projects among other schemes, was asked by Sebi nearly three years ago to refund Rs. 49,100 crore to the investors, the regulator has passed a fresh order to impose a monetary penalty for violation of Sebi’s Prevention of Fraudulent and Unfair Trade Practices Regulations.
  3. SAT had said in its November order that even if the adjudication officer (AO) considers the appellants to be “highly unscrupulous and that the appellants have indulged in fraudulent and unfair trade practices, it was obligatory (for the) AO to determine the quantum of profits made in such practice and thereafter …impose penalty under Section 15HA of the Sebi Act”.

KEYS:

  1. The Securities and Exchange Board of India is the regulator for the securities market in India
  2. It was established in the year 1988 and given statutory powers on 30 January 1992 through the SEBI Act, 1992
  3. Founded: 12 April 1992
  4. Sector: Securities market
  5. Jurisdiction: India
  6. Headquarters: Mumbai
  7. Agency executive: Ajay Tyagi (Chairman)
  8. Type: Statutory corporation

 

Exide Life Insurance partners with PMC Bank to offer protection, savings products

Exide Life Insurance partners with PMC Bank to offer protection, savings products

  1. Exide Life Insurance has recently signed the partnership with the Punjab & Maharashtra Co-operative Bank (PMC Bank) to offer its protection and savings products to the latter’s customers.
  2. PMC Bank is the changed bank on the basis of the statewise co-operative bank with 127 branches spread across Maharashtra, Delhi, Karnataka, Goa, Gujarat, Andhra Pradesh and Madhya Pradesh. Exide Life Insurance works with around 50 banks. In 2016-17, it posted a profit of ₹112 crore on a premium income of ₹2,400 crore.
  3. “Today we work with approximately 50 Banks. We are pleased with our partnership with PMC Bank. This partnership will reiterate our position in the co-operative bank space and provide the necessary impetus required to earn the trust of our customers,” Exide Life Insurance Managing Director Kshitij Jain said.
  4. “The facility will be available for the retail investors of the company’s liquid fund only, which comprise 7,000 in terms of folios with an AUM of Rs 1,300 crore at present,” Raj Kumar, chief executive, LIC Mutual Fund told here today.

KEYS:

  1. Exide Life Insurance Company Limited, is a 100% Indian owned life insurance company, owned by the Exide Industries
  2. Exide Life Insurance distributes its products through multi-channels viz.
  3. Headquarters: Bangalore India
  4. CEO: Kshitij Jain
  5. CFO: C Anil Kumar
  6. Founded: 2001
  7. Managing director: Kshitij Jain
  8. Parent organization: Exide Industries

 

ICICI Lombard, SBI life Insurance gets SEBI approval for IPO

ICICI Lombard, SBI life Insurance gets SEBI approval for IPO

  1. ICICI Lombard General Insurance Company has been set at the regulator of the Securities and Exchange Board of India (SEBI)’s go-ahead for its estimated Rs. 6,000 crore initial public offer, which could be the first by a general insurer in the country.
  2. There are the two state of the General Insurance Corp of India and New India Assurance Company and there are also two life insurance firms (SBI Life and HDFC Standard Life) have also lined up IPO plans and are awaiting SEBI’s go-ahead for their respective draft papers.
  3. Among these, SEBI is awaiting “clarification” from insurance regulator IRDAI with regard to IPOs by HDFC Standard Life, New India Assurance and General Insurance, as per the latest update available with SEBI on these IPOs. In case of SBI Life, the market regulator received the required details from IRDAI on August 28 and the case is currently “under process” at SEBI’s end.
  4. The insurance company has hired JM Financial Institutional Securities Ltd, Axis Capital Ltd, BNP Paribas, Citigroup Global Markets India Pvt. Ltd, Deutsche Equities India Pvt. Ltd, ICICI Securities Ltd, Kotak Mahindra Capital Co. Ltd and SBI Capital Markets Ltd to manage the share sale.

KEYS:

  1. ICICI Lombard General Insurance Company Limited is one of the leading private sector general insurance companies in India
  2. It is engaged in general insurance, reinsurance, insurance claims management and investment management
  3. CEO: Bhargav Dasgupta
  4. Chairperson: Chanda Kochhar
  5. CFO: Gopal Balachandran
  6. Number of employees: 6,460 (as March 2017)
  7. Managing director: Bhargav Dasgupta
  8. Parent organizations: ICICI Bank, Fairfax Financial

 

Science and Technology

DRDO successfully flight tested Anti Tank Guided Missile – NAG

DRDO successfully flight tested Anti Tank Guided Missile – NAG

  1. The Defence Research and Development Organisation (DRDO) has been tested twice the India’s indigenously developed third generation Anti Tank Guided Missile (ATGM) ‘Nag’ in Rajasthan on Friday.
  2. “With these two successful flight trials, and the flight test conducted earlier in June in the peak of summer, the complete functionality of Nag ATGM along with launcher system NAMICA has been established and marked the successful completion of development trials of Nag Missile,” the release said.
  3. “India on 3 July successfully test-fired an indigenously developed short-range and Quick Reaction Surface to Air missile (QRSAM) from Chandipur along the Odisha coast. The missile was test-fired from Launch Complex-3 at the Integrated Test Range (ITR) around 11.30 a.m from a truck-mounted canister launcher,” said official sources.
  4. “All the technologies and subsystems incorporated in the missile have performed well, meeting all the mission requirements,” an official statement said. “All the Radars, Electro Optical Systems, Telemetry Systems and other stations have tracked the Missile and monitored all the parameters. The missile test met all the objectives.”

KEYS:

  1. The Defence Research and Development Organisation is an agency of the Republic of India, charged with the military’s research and development, headquartered in New Delhi, India
  2. Headquarters: New Delhi
  3. Founded: 1958
  4. Motto: बलस्य मूलं विज्ञानम्; “Strength’s Origin is in Science” (Sanskrit)
  5. Agency executive: Dr.S.Christopher, Secretary, Department of Defence R&D;
  6. Minister responsible: Arun Jaitley, Defence Minister of India
  7. Number of employees: 30,000 (5000 scientists)

 

SPORTS

Rafael Nadal wins 3rd US Open, 16th Grand Slam title, in straight sets

Rafael Nadal wins 3rd US Open, 16th Grand Slam title, in straight sets

  1. Rafael Nadal has been capture the sight of the eccentric of the US Open last night, easing to a comfortable 6-3, 6-3, 6-4 victory over giant South African Kevin Anderson on Arthur Ashe Stadium.
  2. “I know is my last grand slam here,” Toni Nadal told ESPN interviewer Tom Rinaldi. “I very happy, many thanks for all the people in my life.”
  3. “I was surprised in January — now I am not that much surprised, no?” said Nadal, left eyebrow, as ever, arching, referring to his Australian Open final against Federer.

AWARDS & RECOGNITION

Tahir Mahmood bags N R Madhava Menon Best Law Teacher Award

Tahir Mahmood bags N R Madhava Menon Best Law Teacher Award

  1. Eminent jurist Tahir Mahmood has been awarded by the prestigious Prof N R Madhava Menon Best Law Teacher Award as part of the Law Teachers’ Day celebrations organised here on Sunday.
  2. “The legal education scenario in the country is changing and within next ten years, the standard of lawyers will witness a major change. Law is now being recognised as a profession of talented students and more talented student lawyers are coming out,” Menon said in his address.
  3. “Each year we try to honour the most deserved law teachers and institutions not only in India but within the SAARC region,” Bhasin said, adding, “we are especially proud to honour the two eminent jurists from Nepal and Sri Lanka”.

 

OBITUARY

Nancy Dupree: Renowned US historian dies in Afghanistan

Nancy Dupree: Renowned US historian dies in Afghanistan

  1. Nancy Hatch Dupree, the famous American expert for the history, art, and archaeology of Afghanistan, has died at the age of 90 years after battling an illness in a Kabul hospital, officials announced.
  2. In 2013, she founded and opened the Afghanistan Center at Kabul University (ACKU), the first facility of its kind in the country dedicated to the study of Afghanistan’s history, culture and society. The late historian was the director of the center until recently.
  3. “Her vision for ACKU was that it would contribute to the reconstruction of Afghanistan by gathering in one place scholarship on the country’s culture, history and politics,” the center said in a statement.
  4. “We discovered that a lot of house have been looted and the books were on the sidewalk being used by people who were selling [food items] and all these things, they would tear a page out of a book and give it you. These were books by some of the noted scholars and we knew that probably nobody else would be able to find these books. So we had a concerted campaign to go around the city and buy up all the books, the looted books, that we could find.”

IMPORTANT DAYS

United Nations Day for South-South Cooperation

United Nations Day for South-South Cooperation

  1. The United Nations Regional Information Centre (UNRIC) is the one in the 63 United Nations Information Centres (UNICs) from all over the world. The main aim of this event is to send the UN message, raise awareness and create understanding of issues relating to the United Nations’ objectives.
  2. UNRIC helps in the Western European Region by giving and helping the UN information material, UN reports and documents, press kits, posters, fact sheets and brochures.
  3. UNRIC maintains websites in 13 languages of the region: Danish, English, French, Finnish, German, Greek, Icelandic, Italian, Dutch, Norwegian, Portuguese, Swedish and Spanish.

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