25th November 2016 – Current Affairs

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National

Water Distribution Monitoring Portal launched in Andhra Pradesh

  • Will enable the people to track the status of drinking water in the nearby water tanks.
  • The Water Distribution Monitoring portal can be accessed from the website org.

62 new Jawahar Navodaya Vidyalaya to be opened

State No. State No. State No.
Chhattisgarh 11 Punjab 2 Rajasthan 1
Gujarat 8 Madhya Pradesh 3 Andaman & Nicobar 1
Delhi 7 jharkhand 2 Vlaharashtra 1
J&K 5 West Bengal 2 Meghalaya 4
Uttar Pradesh 5 Karnataka 3 Tripura 4
Arunachal Pradesh 2 Haryana 1

 

  • The JNVs’ will provide opportunities to the local vendors for supply of essential commodities such as food, consumables, furniture, teaching material etc along with opportunity for local service providers such as barber, tailor cobbler, manpower for housekeeping and security services etc.

Policy to re-assist blacklisting global defense firms

  • A dozen of global defense firms are presently banned from doing business in India because of allegations of corruption against them.
  • However, due to such blacklisting, the Indian military is not able to access many of the global products.
  • Ban period has been reduced to 5 years from the previous 10 years but the upper ban limit is not specified.
  • It allows doing business with black listed firm for achieving National security only for the purpose of supporting the critical spare and maintenance or if the firm is the only source to support a certain system subject to approval from DOD

Introduction of New Merchant Shipping Bill, 2016

  • Merchant Shipping Bill, 2016 is a revised version of the Merchant Shipping Act, 1958 and will abolish the Merchant Shipping Act, 1958 as well as The Coasting Vessels Act, 1838.
  • Merchant Shipping Act, 1958 had been amended 17 times between 1966 and 2014 due to which the number of sections increased to more than 560 but with the introduction of new bill the provisions have been reduced to 280.
  • New Bill will simplify the law governing the merchant shipping in India and promote ease of doing business, transparency and effective delivery of services in the country.

NABARD to disburse Rs 21,000 crore to farmers for Rabi Season

  • Money will be disbursed by NABARD to District Central Cooperative Banks (DCCBs) which will enable them to pass on grant funds to the primary agriculture cooperatives.
  • Farm cooperatives will further pass it to farmers for meeting crop loan requirements in Rabi season.
  • Banks also have been asked to ensure regional rural banks (RRBs) and district cooperative banks have required cash available to satisfy the sowing needs of farmers.
  • NABARD is an apex development bank in India. The Reserve Bank of India (RBI) holds the majority stake in it.

International

India Ranks 138 in the Measuring the Information Society Report 2016

  • India has been ranked 138thin global rank Index 2016 with a score of 2.69 while it has been ranked 26th in the Regional Rank Index 2016.
  • List of top 5 Economies
1 South korea 8.88
2 Iceland 8.83
3 Denmark 8.74
4 Switzerland 8.68
5 UK 8.57

 

QS Graduate Employability Ranking 2017 Ranks IIT Kharagpur Top Institution in India

  • IIT Kharagpur has been ranked as the top institution in the country for the second successive year.
  • IIT Bombay was also was listed in the top 100 Universities of the World after IIT Kharagpur, and are the only Indian Universities to be placed among top 100 Universities of the World in the ranking list.
  • The top 3 Universities ranked globally includes:
Rank University Country
1 Stanford University USA
2 Massachusetts Institute of Technology (MIT) USA
3 Tsinghua University China

 

Shanghai Cooperation Organisation (SCO) 2017 to be chaired by Turkey

  • 2017 Energy Club of the Shanghai Cooperation Organisation (SCO) will be chaired by Turkey which is the first non-SCO country to do so.
  • SCO is a Eurasian political, economic and military organization and also known as Shanghai Pact.
  • It was founded in 2001 with China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan and Uzbekistan as its full-fledged members
  • Turkey, Afghanistan, Iran, Mongolia, Belarus and Sri Lanka are the members of the SCO Energy Club.

Business & Economy

RBI doubles the E-wallet Limit to Rs. 20,000

  • Reserve Bank of Indiaon November 23, 2016 declared to increase the limit of the Prepaid Payment Instruments (PPIs) from  10,000 to Rs. 20,000 per month and Rs. 50,000 for Merchant Bank to facilitate digital transactions.
  • Decision was taken to ease the problem faced by the public with the demonetization moveof the Government.
  • However the decision will be valid only till December 30 after which this decision will be again reviewed by the RBI.

IBBI Notifies regulation Under Bankruptcy Code, 2016

  • Insolvency and Bankruptcy Board (IBBI) of India on 23 November 2016 notified three sets of regulations directing the eligibility criteria of becoming a professional member of an Insolvency Professional Agencyor for registering with the IBBI as an Insolvency Professional Agency.
    Individuals eligible for registration as an insolvency professional include :
  • Advocates, Chartered Accountants, Company Secretaries and Cost Accountants with 10 years’ of practice or employment.
  • Graduate with 15 years of post-qualification managerial experience on passing the Limited Insolvency Examination.
  • Any individual who has passed the National Insolvency Examination.

30 banks join mobile-based national funds transfer system

  • 30 private and foreign bankswere joined the Unified Payments Interface (UPI) to allow money transfer between any two bank accounts by using a mobile phone.
  • UPI Project had started with 21 banks in August 2016.Earlier this month, five new banks including SBI, Allahabad Bank, Bank of Baroda, HDFC Bank and IDFC Bankjoined with NPCI’s UPI.
  • Aim :  To allow all Indian citizens to have unrestricted access to e-payment services.

YES Bank, Gujarat Roadways join hands to digitise bus travel payments

  • Maharashtra based YES Bank, announced a partnership with Gujarat State Road Transport Corporation (GSRTC) on November 24, 2016 to digitise payment of bus tickets for Gujarat People.
  • Yes bank will install over 125 points of sale(PoS) terminals to facilitate booking through credit and debit cards at all GSRTC bus stops.

Government to Impose Safeguard Duty on Steel Imports

  • Aim: to ensure fair trade and protect domestic manufacturers from cheap imports.
  • Safeguard duty has been imposed on import of hot rolled flat sheets and plates of alloy or non-alloy steel (excluding hot rolled flat products in coil form).
  • Duty rate would be calculated after deducting the value of the goods and the anti-dumping duty payable when the import price is below USD 504 per ton.
  • duty imposed would be 10%up to November 22, 2017and will gradually reduce to 8% between November 23, 2017 and November 22, 2018 while to  6% during the period from November 23, 2018 to May 22, 2019  2019

Zee group to buy stake in Reliance TV channels and radio business for 1890.4 crore

  • Reliance group has entered into a deal with Zee group to sell its 100%stake in TV channels and sell 49% stake in radio business to Zee group.
  • The total deal will cost Rs 4 crore($283 million)to Zee group.
  • Due to regulatory rules of radio business ZMCL will be able to acquire only 49% stake.

Airtel Bank launches live banking services in Rajasthan

  • Airtel retail outlets across Rajasthan will act as banking points. They offer a range of basic, convenient banking services as per Payments Bank guidelines issued by RBI.
  • The bank will accept deposits not exceeding Rs 1 lakh. It cannot perform lending activities, except while giving loans to its employees on approval of the board.
  • It intends to give an interest rate of 7.25% per annum on deposits in savings accounts.
  • Though payment banks are allowed to issue debit card facility, but Airtel Payments Bank will be not offering this facility right now.

Environment & Ecology

Archaeologists uncover 7000-year old city in Egypt

  • Egyptian Archaeologists have uncovered an ancient Egyptian city and 15 graveyard that belongs 5300 BC.
  • The city and cemetery was discovered about 400 meters from the Temple of SetiI in the ancient city of Abydos which was founded by pre-dynastic rulers in southern Egypt.

People in News

N V Srinivasan appointed as Indo-American Chamber of Commerce President

  • The Indo-American Chamber of Commerce (IACC-USA) is a non-profit organization serving the Metro Detroit area and beyond.
  • Other Appointments:Bhasin and Company Managing Partner Lalit Bhasin and entrepreneur Vasant Subramanyan were elected as Executive Vice-Presidents respectively.

Indian-American Nikki Haley picked by Donald Trump as US Ambassador to UN

  • US President-elect Donald Trumpon November 23, 2016 appointed Nikki Haley of South Carolina to serve as US ambassador to the United Nations.
  • She will become the first Indian-Americanto be appointed to a cabinet-level post in the US administration.
  • She would also be the first ever Indian-American Cabinet rank official in any administration.

Renowned Pakistani mountaineer Hassan Sadpara passes away

  • Renowned mountaineer Hassan Sadpara passed away in Rawalpindi, Pakistan
  • Sadpara was the only Pakistani, who have climbed six of the world’s tallest mountains including Mt Everest (8848m), K2 (8611m), Gasherbrum I (8080m), Gasherbrum II (8034m), Nanga Parbat (8126 m) and Broad Peak (8051m).
  • He was the second Baltistani to have summited all five of the 8000m peaks of Pakistan after Nisar Hussain.

Awards

Australia’s former women’s captain Karen Rolton inducted into the ICC’s Hall of Fame

  • She has become the 81st player to be inducted into the ICC Cricket Hall of Fame and the sixth woman to receive the award.
  • Rolton is the first out of the four legendary cricketers who will be formally inducted into the ICC Cricket Hall of Fame this season.
  • The other three are Muttiah Muralitharan of Sri Lanka, Australia’s Arthur Morris and England’s George Lohmann.

Sports

Indian boxer Neeraj Goyat ranked 35th in World Boxing Council(WBC) Ranking

  • He is the first Indian boxerto enter into the ranking.
  • Neeraj has an overall record of winning 8 matches in 12 fights.
  • On entry in top 15, Neeraj can take part in world title matches also.
  • Amir Khanof Great Britain is presently on the top stop in welterweight category.

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