CURRENT AFFAIRS FOR IBPS PO & RRB: 25TH AUGUST 2017

NATIONAL:

Right To Privacy Is Fundamental Right Under Constitution, Declares Supreme Court:

The Supreme Court pronounced that individual privacy is a fundamental right protected by the Constitution. The ruling was delivered by a rare nine-member bench and is based on an array of petitions that challenge the mandatory use of Aadhaar cards which assign a unique 12-digit ID to every citizen.

The bench, headed by Chief Justice JS Khehar, ruled privacy was part of the fundamental right to life and personal liberty guaranteed to all citizens under Article 21 of the Constitution. It also spoke of the right to marriage, procreation, privacy of home and the right to be left alone as other facets of privacy. The broad implication is that the government cannot frame any policy or law that completely takes away the citizen’s right to privacy. 

Sushma Swaraj to inaugurate first Videsh Bhavan in Mumbai:

          External Affairs Minister Sushma Swaraj will inaugurate the country’s first Videsh Bhavan, assimilating all Regional Passport Offices under one roof, at the Bandra Kurla Complex (BKC).

Minister of State for External Affairs Gen. (Retd) V.K. Singh, Maharashtra Chief Minister Devendra Fadnavis, Administrator of Union Territories of Daman & Diu and Dadra & Nagar Haveli Praful Patel and other dignitaries will be present on the occasion.

The formal inauguration on August 27 by Sushma Swaraj follows the shifting of the RPO from its Worli premises to the Videsh Bhavan from August 14 and merging of the Thane and Mumbai RPOs from August 21.

Maharashtra:

• Capital: Mumbai
• Governor: Vidyasagar Rao

India emerging as important regional strategic partner for US: Heather Nauert:

India is emerging as a very important regional strategic partner for the US that has played an important role in helping Afghanistan by supporting the war-torn country’s economy.

State Department Spokesperson Heather Nauert told reporters that the US recognises India’s contributions in Afghanistan where New Delhi has pledged about USD 3 billion for various developmental projects since 2001. 

Cabinet approves New Central Sector Scheme – “Pradhan Mantri Kisan Sampada Yojana”:

The Cabinet Committee on Economic Affairs (CCEA) approved renaming the new central food processing scheme SAMPADA (Scheme for Agro-Marine Processing and Development of Agro-Processing Clusters) as Pradhan Mantri Kisan Sampada Yojana (PMKSY) with an aim to benefit 20 lakh farmers and generate 5.30 lakh jobs by 2020.

The scheme with an allocation of Rs 6,000 crore is expected to leverage investment of Rs 31,400 crore.

Food Processing Sector has emerged as an important segment of the Indian economy in terms of its contribution to GDP, employment and investment. During 2015-16, the sector constituted as much as 9.1 and 8.6 per cent of GVA in Manufacturing and Agriculture sector respectively.

(a) To provide impetus to investment in food processing and retail sector, govt. has allowed 100% FDI in trading including through e-commerce, in respect of food products manufactured and / or produced in India.

(b) The govt. has also set up a Special Fund of Rs. 2000 crore in NABARD to make available affordable credit at concessional rate of interest to designated food parks and agro processing units in the designated food parks.

(c) Food and agro-based processing units and cold chain infrastructure have been brought under the ambit of Priority Sector Lending (PSL) to provide additional credit for food processing activities and infrastructure thereby, boosting food processing, reducing wastage, create employment and increasing farmers’ income. 

Grid connected rooftop solar projects programme launched:

Chief Minister Naveen Patnaik inaugurated grid connected roof top solar programme in a bid to enable public participation to harness renewable energy.

A web platform www.rtsodisha.gov.in was also launched to help project stakeholders interact with consumers and provide services. This website created by Odisha Renewable Energy Development Agency (OREDA) will be useful in making the Rooftop Solar Program easily accessible to the common citizens.

The State government will provide 30 percent subsidy to the consumers belonging to residential and institutional segments as well as to registered societies and trusts. At present, current investment for installation of a rooftop project is around Rs 70,000 per KW.

Odisha:

• Capital: Bhubaneswar
• Governor: C. Jamir 

Finance Minister Shri. Arun Jaitley unveils NITI Aayog’s Three Year Action Agenda:

NITI Aayog’s Three Year Action Agenda was unveiled by Finance Minister Arun Jaitley.

The NITI Aayog while suggesting a host of reforms came out with a detailed plan for reforms in the economy, judiciary, regulatory structure and social sectors, in its ‘Three Year Action Agenda, 2017-18 to 2019-20’.

The 211-page document calls for strengthening and streamlining regulatory structure governing sustainability of environment.

The Action Agenda is an integral part of the 15-year Vision Document of India being drafted by the NITI Aayog.

Civil Aviation Ministry launches 2nd round of bidding for UDAN:

Civil Aviation Ministry launched the second round of bidding for its Regional Connectivity Scheme-UDAN. The scheme aims at providing connectivity to special priority areas which include Jammu and Kashmir, North East, Lakshadweep, Uttarakhand, Himachal Pradesh and Andaman and Nicobar Islands.

The important changes that are being effected, routes with stage length less than 150 Kms will now be permitted for operations as RCS Routes through fixed wing aircraft. 

INTERNATIONAL:

Qatar restores diplomatic ties to Iran:

          Qatar has restored full diplomatic relations with Iran, disregarding the demands of Arab nations that it lessen its ties to Tehran.

Qatar’s Foreign Ministry announced early that the country’s ambassador would return to Tehran. Qatar pulled out its ambassador in early 2016 after Saudi Arabia’s execution of a prominent Shiite cleric sparked attacks on two Saudi diplomatic posts in Iran, a move to show solidarity with the kingdom.

Qatar

• Currency: Qatari riyal
• Capital: Doha

United States to install radar systems in Palau:

The United States has announced plans to install radar systems in Palau which is about 1,300 kilometres south-west of Guam, the US Pacific territory that Pyongyang threatened to fire missiles towards earlier this month.

The US move will increase its monitoring ability in the western Pacific region recently rocked by threats from North Korea. In a joint statement, the US Defence Department and the Palau government said they are working to finalise the location of radar towers on the archipelago nation of 22,000 people.

USA

• President of the United States: Donald Trump
• Currency: United States Dollar
• Capital: Washington, D.C. 

Indian Tri-Services Band participating in International Military Music Festival in Moscow:

A Tri-Services band from the Indian Armed Forces is participating and performing in the prestigious International Military Music Festival “Spasskaya Tower” in Moscow.

“Spasskaya Tower” is the parade of the best military music bands of Russia and other countries that takes place every year at Red Square in Moscow. This Festival is a mega event, where military musicians represent the variety of national, artistic and military traditions of the world. It will continue till 3 September 2017.

The participation of the Tri-Services Band would foster better ties between the Armed Forces of the two countries and is also an acknowledgment of the professional skills of the Indian Armed Forces bands. The Indian Navy Band had also for the first time participated in the Royal Edinburgh Military Tattoo, an international event of military music performance undertaken by the Armed Forces, which commenced on 1 August and will conclude on 26 August.

RUSSIA

• Russian President: Vladimir Putin.
• Currency: Russian Ruble
• Capital: Moscow   

 BANKING & BUSINESS:

RBI to issue Rs 200 in denomination banknotes in Mahatma Gandhi (New) series:

The Reserve Bank of India will issue the 200 rupee denomination banknotes in the Mahatma Gandhi (New) Series, bearing signature of Governor Dr. Urjit R. Patel. The note will be issued from select RBI offices, and some banks.

The new denomination has Motif of Sanchi Stupa on the reverse, depicting the country’s cultural heritage. The base colour of the note is Bright Yellow. The note has other designs, geometric patterns aligning with the overall colour scheme, both at the obverse and reverse. Dimension of the banknote will be 66 mm × 146 mm. 

Good prospects for India to achieve over 8 % growth in 2-3 years: Niti Aayog

India has good prospects of achieving over eight per cent growth within two to three years and the chances of massive cut in the poverty rate in the upcoming decade are excellent.

This was stated by Niti Aayog in its three Year Action Agenda unveiled. It has come out with a detailed plan for reforms in the economy, judiciary, regulatory structure and social sectors in its ‘Three Year Action Agenda, 2017-18 to 2019-20’.

The Action agenda proposes linking central government expenditure to future priorities, shifting additional allocations to high-priority sectors which are more likely to promote development. The Aayog has suggested ways to facilitate urbanization in the country and deal with key challenges like affordable housing, infrastructure development, public transport and promotion of Swachh Bharat. 

Microsoft launches ‘Project Brainwave’ for real-time AI:

                   Software giant Microsoft has announced

its Project Brainwave deep learning acceleration platform for real-time artificial intelligence (AI).

With the help of ultra-low latency, the system processes requests as fast as it receives them. The ‘Project Brainwave’ uses the massive field-programmable gate array (FPGA) infrastructure that Microsoft has been deploying over the past few years.  

Agriculture price forecasting model to get a Microsoft update:

Software giant Microsoft will come to the aid of farmers in Karnataka who constantly struggle with an unpredictable market.

The Agriculture Department has signed a Memorandum of Understanding with Microsoft India to develop an unique ‘farm price forecasting model’ using the latest IT tools in a bid to help farmers, administrators and other stakeholders understand the market behaviour in advance.

The proposed initiative is said to be the first-of-its-kind in the country, as it is a ‘multi-variate’ one that takes into consideration various factors beyond the conventional supply-demand equation. It will examine a slew of related factors, including weather, rainfall and external factors, that impact market behaviour. 

APPOINTMENTS:

Nandan Nilekani back at Infosys, named as Chairman of Board; R Seshasayee resigns as Chairman:

 Nandan Nilekani, the celebrated technocrat who seeded the idea of a unique identification number for every Indian, has returned to Infosys to restore the lustre of the country’s second-largest software services firm, replacing R Seshasayee, who resigned as chairman of the board. 

Cabinet nod to DSP’s post for woman cricketer Harmanpreet:

 Punjab cabinet approved the appointment of woman cricketer and Arjuna Award winner Harmanpreet Kaur as DSP in the state police department, while giving the go-ahead for government jobs to two children of martyr Naib Subedar Paramjit Singh, who was killed and mutilated while fighting an infiltration bid at the Line of Control (LoC) in May this year.

Punjab

• Capital: Chandigarh
• Governor: P. Singh Badnore
• Chief Minister: Captain Amarinder Singh

Tata Sons appoints Roopa Purushothaman as chief economist:

 Tata Sons has appointed Roopa Purushothaman as chief economist and head of policy advocacy. Purushothaman, who will join the group with effect from 1 September, will drive macroeconomic research as well as all policy and advocacy initiatives relevant to the businesses of the Tata group. 

 BOOK & AUTHOR:

Raghuram Rajan pens book on RBI stint in ‘turbulent times’:

Raghuram Rajan pens book on RBI stint in ‘turbulent times’ Raghuram. Rajan is all set to publish a book about his tenure as Governor of the Reserve Bank of India (RBI) where he explains economic concepts and talks of issues like tolerance and connection between political freedom and prosperity. The book is a collection of essays and speeches during his stint as RBI head.

Rajans commentary and speeches in “I Do What I Do: On Reform, Rhetoric & Resolve” convey what it was like to be at the helm of the central bank in those turbulent but exciting times, it said. To send a strong message about the strength of India’s institutions and the country’s ongoing programme of reform, publisher HarperCollins India said. 

AWARDS:

Odisha CM confers Biju Patnaik Award for Scientific Excellence:

 Chief Minister Naveen Patnaik conferred the Biju Patnaik Award for Scientific Excellence for 2016 to Prof. Digambar Behera.

Instituted by Odisha Bigyan Academy (OBA), the award is given to any Odia scientist working anywhere in India or abroad each year for his/her lifetime research contributions in the field of science and technology.

The Samanta Chandra Sekhar Award for 2016 was given to Prof Swapna Mahapatra, Prof Banshidhar Majhi and Prof Sukumar Mishra. 

 SPORTS

Ronaldo named 2016/17 Men’s Player of the Year:

The 32-year-old Ronaldo Portuguese international – who last term helped the Spanish team to their second successive UEFA Champions League title and 12th overall in European football’s premier club competition – received the award at the 2017/18 UEFA Champions’ League group stage draw in Monaco.