CURRENT AFFAIRS --NOVEMBER 6 TO 10 2016

06-11-2016

CII Launches ‘Startup Mentorship Circle’

Confederation of Indian Industry (CII) has launched a unique platform called ‘Startup Mentorship Circle’. Startup Mentorship Circle’ will provides a strong eco-system for nurturing innovation. It aims to help in connecting start-ups with the global marketplace. CII provides the largest network for start-ups with its 8000 direct and 2 lakh indirect members.

Japan Launch Advanced Weather Satellite

Japan has launched a next-generation geostationary meteorological satellite “Himawari-9. It aims to further improve weather services in the Asia-Pacific region. It is Japan’s ninth geostationary weather observatory since the first satellite in the Himawari, or sunflower, series launched in 1977. The Himawari 8 and 9 satellites were constructed by Mitsubishi Electric and Boeing.

Agro Biodiversity Congress Inaugurated

PM Modi inaugurates the 1st International Agro Biodiversity Congress 2016 in New Delhi. The conference is being organised by the Indian Society of Plant Genetic Resources and Biodiversity International, a CGIAR Research Centre. Agrobiodiversity is defined as the variety and variability of animals, plant & micro-organism that are used directly or indirectly for food and agriculture.

State of Emergency in Northern Mexico

Mexico’s Federal Govt has declared a state of emergency for three cities in the northern border state of Tamaulipas that have been hit by heavy flooding. The southern part of Tamaulipas received rainfall equivalent to 20 percent of its entire annual average. The Interior Department said, the declaration frees up disaster relief funds for the cities of Altamira, Ciudad Madero & Tampico.

Malaysia, China Sign Defense Deal

Malaysia has agreed to buy four Chinese naval vessels and pledged with China to handle South China Sea disputes bilaterally. The vessels are known as littoral mission ships, small craft that operate close to shore. Two will be built in China and two in Malaysia. The move marks Malaysia’s first significant defense deal with China at a time of rising tension in the South China Sea.

Indian Lawyer Elected into UN Legal Body

A young Indian lawyer Aniruddha Rajput has won a seat in the UN General Assembly elections for membership its top body of legal experts. He is among the 34 individuals elected by the General Assembly as members of the International Law Commission. The newly elected members will serve a five-year-term office. The UN organ tasked with the progressive development of international law.

President’s Colours to 30 AF Squadron

President would award Presidential Colours to 30 Squadron of Air Force & 501 Signals Unit. President’s Colours is one of the greatest honours bestowed upon an Air Force Unit or Squadron in recognition of exceptional service. The 30 Squadron of the IAF was formed on Nov1,1969 with the legendary MIG-21 FL aircraft at the Air Force Station. 501 Signals Unit commenced operations in 1966.

India,S.L. Set up Joint Working Group

India & Sri Lanka have agreed to set up a Joint Working Group on Fisheries (JWG) & a hotline between their Coast Guards. It aims to address the long-standing issue of fishermen from Tamil Nadu being arrested. The decision, taken during talks between EAM Sushma Swaraj & Sri Lankan Foreign Minister Mangala Samaraweera. It came after fishermen of both countries failed to reach an agreement

1-day Ban on Assam Channel

NDTV is the not the only news channel that will be taken off air for a day on Nov 9. The Centre has imposed a one-day black out penalty on the news channel based out of Assam for allegedly violating programming guidelines. As per the directive issued by the I&B ministry ‘News Time Assam’ will be taken off air on Nov9. The govt’s action has been criticised by the Editors Guild of India.

India-Bangla Military Exercise Begins

The seventh edition of India-Bangladesh joint military exercise SAMPRITI-2016 has commenced. The joint military exercise will be held at Shaheed Salauddin Cantonment in Tangail, Dhaka. The joint exercise will simulate a scenario in a counter insurgency and counter terrorism environment. The first edition of the exercise in this series was held at Jorhat in Assam in 2010.

BCCI cannot Implement Reforms

BCCI told Justice Lodha Committee that it would not be able to implement Supreme Court(SC) directed reforms in cricket administration. The BCCI said because of the resistance from state cricket bodies. It said that all its efforts, including stoppage of funds, have failed to make its associations fall in line. SC had on Oct 21 ordered a financial squeeze on BCCI funds to associations.

Andy Murray Becomes World No 1

Andy Murray became the first British tennis player to be crowned world number. Murray needed to reach the final of the Paris Masters to replace Novak Djokovic & did so when Milos Raonic pulled out before their semi-final. He has won Wimbledon and Olympic gold in 2016, reached 11 finals in 12 events & won a personal record 73 matches. Novak Djokovic had topped the rankings for 122 weeks.

Air Force Club Iraq Lift Federation Cup

Air Force Club, Iraq has lifted the Asian Federation Cup by defeating Bengaluru Football Club 1-0 at Doha. Bengaluru FC had become the first Indian club to qualify for the final. They defeated defending champions Johor Darul Ta’zim in the semifinals. No Indian team in the sport has ever won an Asian level title since the national side bagged the Asian Games Gold at Jakarta in 1962.

India Women’s Hockey Team Wins

Indian Women’s hockey team have lifted the Asian Champions Trophy 2016 in Singapore. In a thrilling summit clash, India defeated China 2-1. This is for the first time that Indian eves won the Asian Champions Trophy competition. Top five women’s teams of Asia took part in this tournament. This was also the qualifying round for the 2017 Asia Cup.

TCS Signs MOU to Partner with UNSW

Tata Consultancy Services (TCS) has signed a MoU to pursue technology research collaboration with the University of New South Wales (UNSW). The agreement will enable to work together in areas of common interest such as machine learning, virtual reality & cloud computing. It will opens the prospect of exchanges of scholars & internships for UNSW students at TCS’s global research facilities.

Govt Cancels FCRA Licenses of NGOs

Government has canceled the three licenses of over 11,000 NGOs under the Foreign Contribution Regulation Act (FCRA) for failing to apply for their renewal within the deadline. The validity of FCRA registration of these NGOs had earlier been extended until October 31 by a home ministry order of March this year. Now, they will not be able to receive contributions from foreign donors.

Venezuela, India Sign Oil Deals

India & Venezuela have signed an oil production deals worth about 1.45 billion US dollar to increase oil production. The agreement was signed between ONGC,Venezeulas Petroleos de Venezuela SA (PDVSA), and Venezuela’s consortium Delta Finance BVin Caracas. The agreement comes amid a severe economic crisis in Venezuela. It is seen as a way to boost oil production & pay off debts.

Andhra Tops WB’s Energy-Saving Rankings

Andhra Pradesh earned a top billing from the World Bank which declared the state as No 1 in India in energy efficiency. This was followed by Rajasthan 41.89, Karnataka 39.34 & Maharashtra 39.29. Andhra topped the list by achieving an energy saving of 1,500 million units. The ranking figures in a study report of the WB titled:India’s State Level Energy Efficiency Implementation Readiness.

India, Sweden to Enhance Cooperation

India & Sweden have agreed to enhance collaboration in energy sector with special focus on areas such as waste-to-energy, hydropower, smart metering & solar energy. Power Minister Piyush Goyal with senior govt officials went official visit to Sweden. Piyush Goyal & Ibrahim Baylan, Swedish Minister for Policy Coordination and Energy have agreed to enhance collaboration in energy sector.

First S4A Debt Recast Gets Approval

Construction major HCC’s Rs 5,000 cr debt recast has become the first case to get approval of a high-level panel set up under RBI’s new Scheme for Sustainable Structuring of Stressed Assets (S4A). The scheme was passed by an ICICI Bank-led joint lender forum in Sept. It has been now approved by the RBI- mandated Overseeing Committee. Under S4A scheme help resolve the corporate debt problem

NCAER Pegs GDP Growth for FY16 at 7.6%

National Council of Applied Economic Research has forecast 7.6% GDP growth rate in financial year 2016-17. The think tank in it’s mid-year review said agricultural sector & the associated increase in rural demand will give an upward push to country’s economic growth. It said, 10 to 11% increase is expected in the output of Kharif foodgrains over last year’s output of 124 million tonnes.

07-11-2016

Turkey’s Pro-Kurdish Party Pulls Out

In Turkey, a main pro-Kurdish party has announced that it is withdrawing from Parliament. Turkey drew condemnation following the arrests of HDP co-leaders Selahattin Demirtas and Figen Yuksekdag. The decision was taken after the unprecedented arrests of nine of its lawmakers, including the party’s two co-leaders. The party said its MPs would not resign but not take part in sittings.

China Adopts Cyber Security Law

China adopted a controversial cybersecurity law to counter growing threats such as hacking and terrorism. It includes contentious requirements for security reviews and for data to be stored on servers located in China. The legislation passed set to come into effect in June 2017. Overseas critics of the law argue it threatens to shut foreign technology companies out of various sectors.

Water Detected on Asteroid Psyche

Scientists have detected the presence of water on Psyche, the largest metallic asteroid in our solar system. Previous observations of Psyche had shown no evidence of water-rich minerals on its surface. However, new observations from the NASA Infrared Telescope Facility in Hawaii show evidence of water or hydroxyl on its surface. The study was published in the Astronomical Journal.

Beijing Ruling Bars Hong Kong Lawmakers

Beijing has intervened in Hong Kong politics to block two elected lawmakers from taking office. Sixtus Leung and Yau Wai-ching have refused to pledge allegiance to Beijing when being sworn in. Beijing has now interpreted a section of Hong Kong law to mean any official who does not swear the oath properly cannot take office. The move comes after weeks of chaos in the Hong Kong legislature.

China Develops Unmanned Sea Vessel

China has developed a high-speed, intelligent unmanned sea vessel which can be used for a host of applications including submarine detection. The 10.25-meter-long “SeaFly-01” vessel completed a test at Nanhu Lake in Wuhan. The vessel has a maximum speed of 45 knots. It was built with carbon fibre material and is equipped with BeiDou communication navigation technology.

Assam Govt Inks MoU with Aviation Min

CM Sonowal & Civil Aviation Minister Ashok Gajapati Raju inked a MoU with the Union Ministry of Civil Aviation & Airport Authority of India under Regional Connectivity Scheme (RCS). According to MoU, the Assam govt shall reduce VAT to 1% or less on Aviation turbine fuel (ATF) at RCS Airports. The Assam Government will provide free land for the development of heliports in Diphu & Haflong.

Army Launches ‘School Chalo’

Army is focussing on another operation -‘School Chalo’. Under which it identifies areas and provides students with free coaching and make them participate in extra-curricular activities. With educational institutions remain closed for about five months & over 30 schools being burnt down. Earlier army had launched Operation ‘Calm Down’ in to clear different parts of the Valley of militants.

Sri Lankan President Arrives in India

Sri Lankan President Maithripala Sirisena arrived in New Delhi on a two-day visit. He met President Pranab Mukherjee and talked on various issues. Sirisena will also take part in the Seventh Session of the Conference of Parties to WHO Framework Convention on Tobacco Control . Earlier ,India and Sri Lanka agreed to work towards ending bottom trawling by Indian fishermen.

Former MoS Jayawantiben Mehta Dies

Former Union Minister and BJP leader Jayawantiben Mehta passed away. Mehta was Minister of State in the Atal Bihari Vajpayee cabinet in 1999. She was the former minister of state for power. She rose in the BJP ranks to become a corporator, an MLA and later a Lok Sabha member, succeeding Murli Deora from the South Mumbai constituency.

128th Anniversary of Sir CV Raman

The 128th anniversary of Nobel laureate Bharat Ratna Sir CV Raman is being celebrated. Sir CV Raman was born on Nov7 in the year 1888 at Thiruvanaikaval in Tiruchirapalli, Tamil Nadu. Sir CV Raman discovered Raman effect – scattering of light which makes the sea & clear sky look blue. India celebrates National Science Day every year on February 28 to mark the discovery of Raman Effect.

Murray Wins Paris Masters Title

Britain’s Andy Murray defeated American John Isner 6-3 6-7 (4-7) 6-4 to win his first Paris Masters title. It was his career’s best eighth title this season, his 14th in Masters overall, and ended Isner’s bid for a first Masters title. He will be officially confirmed as Britain’s first singles number-one since computerised rankings were introduced in 1973.

Sourabh Verma Finishes Runners-up

Indian shuttler Sourabh Verma finished second at Bitburger Grand Prix Gold badminton tournament at Saarbrucken in Germany. Sourabh went down 19-21 20-22 fighting to World No.16 Shi Yuqi of China. World No. 57, Sourabh clinched the Chinese Taipei Open last month. It was his third runners-up finish this season after finishing second best at international challengers at Belgium and Poland.

Pacquiao Reclaims WBO Welterweight Title

Filipino southpaw Manny Pacquiao reclaimed the World Boxing Organization welterweight title for the third time in Las Vegas, USA. He was given an unanimous decision victory over former champion Jesse Vargas in his comeback fight. Pacquiao won the WBO title for the first time in 2010 when he beat Miguel Cotto.

DRDO Signs MoU With IIT Delhi

Defence Research & Development Organisation (DRDO) signed a MoU with Indian Institute of Technology (IIT), Delhi to establish a Joint Advanced Technology Centre(JATC). JATC will be located in the campus of IIT Delhi at the upcoming Science & Technology Park. The JATC will enable Directed, Basic & Applied Research and will engage with premier research institutes.

KPMG India CEO Richard Rekhy to Retire

Leading professional services firm KPMG India said its CEO Richard Rekhy plans to retire and will continue to serve in the position till a successor is found. Rekhy has been serving as CEO since 2012. During his tenure the company has attracted over 70 partners from other industries and across the professional services sector. KPMG in India has around 1,100 staff.

Abbott to Set up Innovation Hub in India

Global drug maker Abbott is setting up an innovation and development center (I&D) in Mumbai. It aims to develope new drug formulations,dosing & other differentiated offerings. The centre will act as a “hub” and ship products to at least 30 countries that will further develop the products to suit local needs. Abbott has its existing innovation and development centres in Chile & Columbia.

China Launches 10 billion Euro Fund

China has set up a 10 billion euro investment fund to finance projects in Central & Eastern Europe. The China-Central Eastern Europe fund will be run by Sino-CEE Financial Holdings Ltd. The company was formally launched by Premier Li Keqiang during his visit to Riga, Latvia. It would focus on developing infrastructure, high-tech manufacturing and mass consumption industries in the region.

India Rises on Business Optimism Index

India has improved its ranking by one spot in a global index of business optimism. According to the latest Grant Thornton International Business Report, India was ranked second on the optimism index during the third quarter (July-September 2016). Indonesia took the top spot, with the Philippines coming in third. India was ranked third during the April-June period.

Exim Bank Lowers Lending Rate

In a bid to promote project exports, Export-Import Bank of India (Exim Bank) has lowered its credit cost by 0.25%. The lowering of rate will help promote project exports. The revised interest rate is effective from October 1. Exim Bank has till date sanctioned $2.84 billion for 22 projects valued at $3.06 billion for executing projects in countries.

Rs 50 crore OIL Start-Up Fund

Oil India Limited (OIL) has set up an OIL Start-Up fund of Rs 50 crore to encourage new ideas related to the oil & gas sector. The oil exploration major’s chairman-cum-managing director Utpal Bora said that the initiative was in line with the Centre’s ‘Start-up India’ initiative. The initiative was to create an ecosystem that was conducive for growth of start-ups in the oil & gas sector.

08-11-2016

New type of atomic bond discovered

Scientists have for the first time observed a weak atomic bond – in which an electron can grab and trap an atom – that was theorised 14 years ago. Newly discovered Rydberg molecules are formed when an electron is kicked far from an atom’s nucleus. The researchers found and saw the molecule by cooling Rubidium gas to 100 nano-Kelvin, about one ten-millionth of a degree above absolute zero.

Japan Ratifies Paris Agreement

Japan today ratified the 2015 Paris Climate Change Agreement to cut emissions and prevent climate change, 4 days after the global pact officially entered into force. The agreement seeks to wean the world economy off fossil fuels in the second half of the century. The agreement also aims to limit the rise in average world temperatures to “well below” 2.0 degrees Celsius.

COP7 meet kicks off amidst protests

The seventh session of the Conference of the Parties (COP7) began amidst controversy in New Delhi on Monday. Nearly 500 farmers from tobacco growing countries were detained by the police for protesting outside the conference venue, which is hosting over 1,500 delegates from 180 countries in the world. India will be pushing for stricter control on smokeless tobacco.

America goes to polls today

The 2016 elections for US President are set to go off on Tuesday. Thirty-seven million Americans have already voted, and between 70 and 80 million are expected to vote on Tuesday. The final results are expected by 11 pm Eastern Time in U.S, which will be IST 9.30 am on Wednesday. Hillary Clinton and Donald Trump are the two major contestants this year.

Rishabh hits fastest 100 in first class

Delhi’s young wicketkeeper-batsman Rishabh Pant hit fastest ever 100 in Indian first class cricket. Pant eclipsed a 28-year old record set by former Tamil Nadu opener VB Chandrasekhar, who reached the three-figure mark in 56 balls against Rest of India. He was not picked for India A’s tour of Australia this season and said that it acted as a trigger to score tons of runs this season.

South Asian satellite to launch in 2017

India’s ambitious South Asian satellite, proposed by PM Narendra Modi for the benefit of SAARC members, will be launched in March 2017. The satellite was originally scheduled for launch by ISRO in December 2016. Modi, during the SAARC summit in 2014, had announced launching of a SAARC satellite as a gift for members of the regional grouping in various fields like telecommunication.

I&B puts ban on NDTV on hold

The Ministry of Information and Broadcasting Monday put on hold its decision to take NDTV India off air for a day on November 9. NDTV moved Supreme Court, challenging the Ministry’s decision to ban NDTV India for a day for revealing “strategically sensitive information”. The ban was imposed for its coverage of anti-terror operations at the Pathankot airbase earlier this year.

Pakistan summons India’s Officials

Pakistan has again summoned the Indian Deputy High Commissioner and lodged a strong protest over alleged “unprovoked” firing by Indian forces along the LoC. Deputy High Commissioner has also been summoned to the Foreign Office over ceasefire violations on October 25, 26, 28 and November 1. Gautam Bambawle is the present high commissioner of India to Pakistan.

Ortega wins third term in Nicaragua

Nicaragua’s leftist President Daniel Ortega has won a third straight term, with his wife Rosario Murillo as vice president. With 99.8% of ballots counted, the 70-year-old former Marxist rebel had 72.5% of the vote. Ortega, who has ruled Nicaragua for 20 of the past 37 years, has been accused of using the courts to limit the power of the opposition.

Police close FCRA case against IRF

Police has closed the case against the Islamic Research Foundation with no complaints of cheating or duping of funds so far. A probe was ordered by the Maharashtra Government after reports appeared of two terrorists in the July Dhaka bombings being inspired by Naik. Home Department has launched the process of cancelling its registration under the FCRA act by issuing a notice to the NGO.

BCCI moves SC for funds for Test cricket

BCCI has moved the SC seeking disbursal of funds for conducting the first Test between India and England which is scheduled to start from Wednesday. The apex court bench said that it will consult the Chief Justice of India on the matter. The board has been barred by the Supreme Court interim order to enter into any fresh contracts without the consent of the Lodha committee.

India slams UNSC on Masood Azhar

India has strongly criticized the United Nations Security Council(UNSC) for taking months to consider sanctioning leaders of groups it has itself designated as terror entities. This is in reference to the “technical hold” on India’s bid to get JeM chief Masood Azhar banned by the UN. The criticism was led by India’s Permanent Representative to the UN ambassador Syed Akbaruddin.

DU professor Nandini Sundar booked

DU professor and rights activist Nandini Sundar and 10 others have been booked for the murder of a tribal in Sukma, Chhattisgarh. Armed Maoists had earlier killed Shamnath Baghel with sharp weapons late Friday at his home in Nama village. It was on Sundar’s petition that the SC in 2011 ordered the disbanding of Salwa Judum, a state-backed militia formed to take on the Maoists in the state.

Kerala Govt. Ditches Predecessor’s Take

Kerala govt. has told SC that women of all ages should be allowed into the famous Sabarimala shrine of Kerala. For centuries, women between 10 and 50 years have not been allowed in Sabarimala, a hilltop shrine that is among the most prominent of Kerala temples. The current LDF govt. has reversed the stand of the previous Congress-led government.

Won’t impose Yoga on anyone, Says SC

The SC has said that it would not impose yoga on anyone. Top court has refused to entertain a PIL seeking to make the ancient practice mandatory in the school curriculum. The decision was taken by a bench of Chief Justice T S Thakur, Justice D Y Chandrachud and Justice L N Rao. The petition was filed by advocate Ashwini Upadhyaya.

MCA rejects ‘One State One Vote’ reform

Mumbai Cricket Association in a Special General meeting has rejected the suggested reform of ‘One state one vote’ by Lodha panel report. As a result of the suggested, MCA will lose their voting rights to Maharashtra as the state will have their voting rights. MCA President Pawar, already 75, and Vice-President Ashish Shelar, an MLA, would become ineligible, once the SC order is implemented.

Two US astronauts cast vote from space

As US gets ready for a nail-biting election on Tuesday, two astronauts Shane Kimbrough and Kate Rubins, have already cast their votes from space. ‘Space voting’ was first used the same year it was implemented in 1997. For astronauts, the voting process starts a year before launch when they are able to select which elections (local/state/federal) they want to participate in while in space.

OVL to Provide $318 Million to Venezuela

ONGC Videsh Ltd will provide $318 million financing to help raise output at a Venezuelan oilfield. Venezuela has signed a pact to supply 17,000 barrels per day of crude oil to India to clear past dues. Venezuela is India’s fourth largest source of crude oil, supplying some 23.6 million tonnes or 12% of the country’s annual import in 2015-16.

India’s gold demand falls to 7 year low

India’s gold demand could fall to 24% in 2016 to the lowest level in 7 years due to higher prices and increased smuggling. India’s gold demand in the first 3 quarters of 2016 fell 29 percent from a year ago to 441.2 tonnes. The quarter ending in December typically accounts for about a third of India’s gold sales. It includes the start of the wedding season and festivals like Diwali,.

Gandhi’s grandson Kanubhai dies at 87

Mahatma Gandhi’s grandson Kanubhai Gandhi passed away on Monday following a heart attack. Kanubhai was the son of Mahatma’s third son Ramdas Gandhi and was living along with his wife Shivalaxmi. A graduate of Massachusetts Institute of Technology (MIT), Kanubhai also worked with the US Defense Department on the wing structure of fighter aircraft.

09-11-2016

Trump Beats Clinton to Take White House

Donald Trump will become the 45th US president after a stunning victory over Democrat Hillary Clinton. Trump’s win raises a host of questions for the United States at home and abroad. He campaigned on a pledge to take the country on a more isolationist, protectionist “America First” path. Global markets plummeted, with the Dow set to open 800 points down.

New Self-Driving Scooters Developed

Scientists have developed a self-driving scooter, using the same technology that powers autonomous cars. It could help mobility-impaired people move around even in indoor spaces. The new trial establishes that researchers’ control algorithms work indoors as well as out. The system designed by researchers from Massachusetts Institute of Tech & the Singapore-MIT Alliance for Research & Tech.

Hadi Named Journalist of the Year

Hadi Abdullah, Syrian freelance journalist was awarded with ‘Reporters without Borders (RSF)-TV5 Monde prize. He was awarded for covering his country’s war. Chinese news website 64Tianwang and citizen journalists Lu Yuyhu and Li Tingyu are also being honored. The award was presented in Strasbourg on behalf of the World Forum for Democracy, a meeting organized by the Council Of Europe.

Italy ‘Father-only’ Surname Law Rejected

Italy’s constitutional court has ruled against legislation that automatically gives children of married couples the father’s surname. Lawyers argued that preventing families from giving children their mother’s surname discriminatory. The law was incompatible with the principle of gender equality. Legislation allowing children to be given their mothers’ surnames was first proposed 40 yrs ago.

Defence Min Clears Blacklisting Policy

The defence ministry has cleared its new blacklisting policy for suspending or banning arms contractors for wrongdoings. The policy has been cleared at a time when firms such as Finmeccanica, Embraer are embroiled in controversial deals. The policy debars firms from conducting business with the government for a period ranging from one to 10 years to remove corruption in the defence sector.

Yashwant Sinha-led Team Submits Report

A five-member Delhi group, headed Yashwant Sinha submitted its report to Union Home Ministry on their recent visit to troubled Jammu & Kashmir. The group had visited Srinagar from Oct 25-27 and met senior separatist leaders, including Syed Ali Geelani & Yasin Malik. The report recommended to start the process of reopening schools. It suggested considering postponement of school examination.

India’s First LNG-Powered Bus Rolls Out

India’s first liquefied natural gas(LNG)-driven bus was launched in Thiruvananthapuram, Kerala by Shri Dharmendra Pradhan(Minister of Petroleum & Natural Gas).November. LNG is considered to be a cleaner and safer fuel which emits 50 per cent less carbon, for mass transportation. It has been a joint effort of Petronet LNG Limited (PLL), Indian Oil Corporation Ltd and Tata Motors Ltd.

India-Britain Sign Two Key Agreements

India & the United Kingdom have signed two MoUs to boost relations between the two nations. These MoUs were signed during the official three days state visit of UK Prime Minister Theresa May to India. The first MOU is on the Ease of Doing Business while the second is on intellectual Property Rights. It was her first bilateral visit outside Europe after becoming PM.

Priyanka is Now LinkedIn Influencer

Actress Priyanka Chopra has joined professional networking website LinkedIn as a LinkedIn Influencer. Priyanka will join a select group of influencers that includes PM Narendra Modi and eminent leaders such as Kiran Mazumdar-Shaw. LinkedIn Influencers are selected by invitation only and comprise a global collective of 500+ of the world’s foremost thinkers, leaders, and innovators.

Indian wushu Team Win 5 Medals

India wushu team has bagged an impressive five medals, including four silver and one bronze, in the eighth Sanda World Cup held at Xian, China. The event witnessed participation from 80 best Sanda players of 13th World Wushu Championship 2015. India were represented by five players. Arjuna Awardee and world silver medalist Y Sanathoi Devi won the silver for India.

Hameed Make England Debut

Teenager Haseeb Hameed will become England’s youngest opening batsman when he makes his debut in the first test against India at Rajkot. At 19 years and 297 days, he will become England’s youngest-ever Test opening batsman, and the fifth-youngest player overall. His average is 48.50 in first-class cricket for Lancashire and has four centuries and nine fifties.

Briton Stanning Announces Retirement

Two-time Olympic champion Heather Stanning has announced her retirement from rowing. She ends her all-conquering partnership with Helen Glover. Stanning & Glover became GB’s first female rowers to win back-to-back Olympic golds when they retained the coxless pairs title in Rio. Their Olympic gold at London 2012 was the hosts’ first of the Games, and also the first in British women’s rowing.

StanChart Launches UPI Solution

Standard Chartered Bank has launched ‘Unified Payments Interface’ (UPI)solution for its corporate and financial institutional, and commercial banking clients. This will enable clients to send and receive money using a Virtual Payment Address without entering additional bank account details. UPI allows real time ‘push and pull’ of funds.

Hedging Mandatory for ECBs

The RBI said borrowers tapping External Commercial Borrowings (ECBs) will be required to cover the principal as well as the coupon through financial hedges. It aims to effectively address currency risk at the systemic level. Hedging is an investment mechanism to cut the risk of adverse price movements in an asset. The RBI said a minimum tenor of one year of financial hedge would be required.

India Lead in the Digital Transformation

India leads the business impact scorecard according to a study on digital transformation conducted by CA Technologies & Coleman Parkes. The survey was carried out across 1770 senior IT executives & business heads in 21 countries including 78 in India. The business impact scorecard measures 14 key performance indicators across four categories. India led the global ranking with a score of 79.

Reinsurer Lloyd’s Gets IRDA Nod

IRDA has approved London headquartered insurance & reinsurance Lloyd’s application to provide onshore reinsurance services in India. Lloyd’s secured R1 approval from IRDA to set up a branch in India. Lloyd’s filed application with IRDA in March for setting up a reinsurance branch in Mumbai. Insurance Regulatory and Development Authority(IRDA) is a insurance sector regulator in India.

RBI Appoints M Rajeshwar Rao as New ED

The RBI has appointed M Rajeshwar Rao as executive director following G Mahalingam’s taking voluntary retirement from the central bank. Rao will look after Department of Statistics & Information Management, Financial markets Operations & International Department. Prior to taking over as the Executive Director, he was the Chief General Manager, Financial Markets Operations Department.

Corp Bank Inks Pact with Indian Army

Corporation Bank has signed a MoU with the Indian Army on defence salary package. It will be providing free/concessional services to the Army under the MoU. The services include free drafts, free cheque books, free funds, free ATM cards, unlimited transactions on all ATMs. Free personal accident insurance cover of ₹5 lakh and ₹10 lakh up to the age of 70 years are the other features.

RBI Unveils New Rs 500, Rs 2000 Notes

The RBI issued new series of notes for the Rs 500 & Rs 2,000 denomination. The Rs. 2,000 note will be called the ‘Mahatma Gandhi (New) Series’. The new design in the Rs. 500 denomination will be in a different colour, size, theme, design and location of security features. The note will be in a new colour – stone grey and the predominant theme will be Delhi’s Red Fort.

500,1000 Currency Notes Stand Abolished

The current notes of Rs 500 & 1000 will no longer be valid from Nov 8. PM Modi announced in a televised address to the nation. Citizens will have 50 days between Nov 10 & Dec 30 to give in notes of Rs 1000 & 500 at post offices & banks. Those unable to submit all their old currency notes within the deadline,will be able to do so at the RBI up till March 31, 2017 by providing a declaration.

10-11-2016

Chinese Min Elected Interpol President

China’s Vice-Minister for Public Security Meng Hongwei was elected the President of the International Criminal Police Organization (Interpol). He is the first Chinese official to take the post. He took over the position from his predecessor Mireille Ballestrazzi. The President of the Interpol heads its Executive Committee and is elected by the General Assembly for a period of four years.

Kamala Harris Wins US Senate Seat

California’s Attorney General Kamala Harris became the first India-American to win the U.S. Senate seat from the state. She defeated fellow Democrat Loretta Sanchez. She is the first black woman elected to the upper chamber in more than two decades. She is also the sixth black individual to be elected to the U.S.Senate. Harris will replace Barbara Boxer who announced her retirement in 2014

Pramila Jayapal Elected to US House

Pramila Jayapal became the First Indian-American woman to be elected to the US House of Representative, winning the Washington State Senate seat. Jayapal got 57% of the votes from Washington State, leaving behind her rival Brady Walkinshaw who secured 43% votes. India-born Jayapal made a mark with her progressive agenda in the Washington State Senate.

China Launch Pulsar Navigation Satellite

China has launched a navigation satellite, which will conduct in-orbit experiments using pulsar detectors to demonstrate new technologies. The X-ray pulsar navigation satellite was launched from the Jiuquan Satellite Launch Center. The X-ray pulsar captures X-ray signals emitted from pulsars. By mapping those signals, they can be used to determine spacecraft location in deep space.

Tata Sons Replaces Mistry as TCS Chief

India’s No. 1 software services firm, Tata Consultancy Services (TCS) , a majority-owned unit of Tata Sons nominated Ishaat Hussain as interim chairman of TCS in place of Cyrus Mistry. Tata Sons owns a 73.26% stake in TCS. Last month,Mistry was ousted as chairman of Tata Sons in a surprise move. Hussain currently serves as chairman of Voltas & satellite television provider Tata Sky.

Govt Launches Smart India Hackathon

Union HRD Minister Shri Prakash Javadekar inaugurated the “Smart India Hackathon 2017”. It is the world’s largest digital national building initiative. Through this initiative, HRD Ministry challenge students to offer innovative solutions to some of the daunting problems faced by our nation. Shri Javadekar unveiled the first set of 250 problem statements received from various ministries.

India,China to Set up JWGs on Fake Notes

India and China will soon set up two joint working groups to deal with the fake Indian Currency Notes. Also a round-the-clock hotline to exchange information related to terror and organised crimes. The issues were discussed threadbare between a Chinese and an Indian delegation in New Delhi. Both the sides also discussed issues relating to e-Visa, telecom fraud & security matters.

PM Departs for a 3-day Visit to Japan

PM Modi departs on a three-day visit to Japan. During the visit the two countries will discuss ways to step up cooperation in the areas like trade, investment and security. The two countries are also likely to sign a civil nuclear cooperation agreement. Prime Minister Narendra Modi’s visit to Japan will play an important role in boosting bilateral relations between both the countries.

Govt Launch Pradhan Mantri Yuva Yojana

The Ministry of Skill Development & Entrepreneurship launched Pradhan Mantri Yuva Yojana to scale up an ecosystem of entrepreneurship for youngsters. The scheme spans over five years with a project cost of Rs 499.94 crore. It will provide entrepreneurship education & training to over 7 lakh students in 5 years. This scheme will also include easy access to information and mentor network.

Agritech Meet Begins in Jaipur

Global Rajasthan Agritech Meet (GRAM), a three-day international event, began in Jaipur. The main focus of the meet is to double the income of farmers through suitable technologies and agricultural activities. Australia, Netherland and Israel will be international partners of the meet. The representatives of these countries will share their new technology and agriculture activities.

Book on Indian Football Launched

FIFA Regional Development Officer for South & Central Asia, Shaji Prabhakaran launched his book ‘Back To The Roots, A definitive Guide To Grassroots & Football Development’. As the title suggests, special emphasis is being given to grassroots development. Its focal point is development of football in India. It charts out a roadmap for Indian football to transform into a major game.

Carolina Tops Price List in PBL Auctions

In the Premier Badminton League, PBL auction held in New Delhi in which Carolina Marin of Spain was bagged by Hyderabad Hunters for 61 lakh 5 thousands rupees. It was the costliest buy. The second highest bid went for South Korean woman shuttler Sung Ji Hyun with Mumbai Rockets. Kidambi Srikanth fetched the highest amount by an Indian & P.V. Sindhu went to Chennai Smashers for 39L rupees.

Western Railways Win Surjit Trophy

Mumbai’s Western Railways women’s team clinched the title in the 33rd Surjit Hockey Tournament. They defeated Haryana XI 4-2 in the title clash played at the Olympian Surjit Hockey Stadium in Jalandhar. The winners were presented a cash award of 1 lakh rupee and trophy and runners-up got 75000 rupees and Trophy. Jaspreet Kaur of Haryana XI was declared the best player of the tournament.

Yatra Signs MoU with Uttarakhand

Online travel company Yatra.com has signed an agreement with the Uttarakhand government to promote homestays. Under the MoU Yatra will promote all the state tourism approved homestays, wherein guests can rent a room in the home of a local family or the entire house. Yatra and Uttarakhand Tourism together will organise an orientation session for homestays.

Banks to Circulate New Currency Note

Union Finance Minister Arun Jaitley has said that the new series of 500 and 2,000 rupees notes will be available in banks and post-offices. He assured the people that the government will do its best to minimise the inconveniences they may face due to the scrapping of old notes. Mr Jaitley said, the initiative will help curb black money & parallel economy as they impact the actual economy.

Axis,Flipkart Launch New Credit Card

Axis Bank in partnership with Flipkart has launched ‘Buzz Credit Card’. Through this contactless card, the bank will offer benefits like welcome benefit of Rs 1000 worth Flipkart Voucher. The customer is also entitled to get Flipkart vouchers of up to Rs 7000,linked to the purchases made through the card. The credit card will also offer min 15 % off, at over 5000 plus restaurants.

Twitter COO Adam Bain Steps Down

Twitter COO Adam Bain,the man in charge of the company’s entire revenue business is leaving, according to a company filing. CFO Anthony Noto will take over in Bain’s COO role. Bain joined the company six years ago from Fox and has been credited with building Twitter’s entire multi-billion dollar advertising business. He was seen as a corporate cheerleader who was known for his positivity.

Deposits Above Rs 2.5L to Invite Penalty

The Govt has warned that the cash deposits above 2 lakh 50 thousands rupees threshold under the 50-day window can attract tax plus a 200% penalty in case of income mismatch. This was said by Revenue Secretary Hashmukh Adhia. The government will get reports of all cash deposited during the period of 10th Nov to 30th Dec above a threshold of 2.5 lakh rupees in every account.

ATMs to Dispense Rs 50 & Rs 100 Notes

From Nov 11, ATMs in the country will dispense banknotes of Rs 50 and Rs 100 denominations. The RBI claimed that all ATMS and cash-dispensing machines will be re-configured to disburse notes. This should solve the problem of not getting lower denomination notes from ATMs. There will be a withdrawal limit of Rs 2000 per day per card. This will be raised to Rs 4000 later.

Direct Tax Collection up 10.6%

Direct tax collections have soared over 10% during the April-October period of 2016-17 of current financial year. As much as 3.77 lakh crore rupees was collected in direct taxes during the April-October period of 2016-17. It is 10.6% higher than collections in the same period a year ago. Direct tax revenue includes corporate and personal income tax.

SOURCE:  testbook.com