CURRENT AFFAIRS FOR IBPS RRB & PO 18 TH AUGUST 2017

NATIONAL

Cabinet approves creation of a single non-lapsable corpus fund for Secondary and Higher education from the proceeds of Cess for Secondary and Higher Education levied under Section 136 of Finance Act, 2007:

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has accorded its approval for creation of a non-lapsable pool in the Public Account for secondary and higher, education known as “Madhyamik and Uchchtar Shiksha Kosh” (MUSK) into which all proceeds of “Secondary and Higher Education Cess” will be credited.

The funds arising from the MUSK would be utilized for schemes in the education sector which would be available for the benefit of students of secondary and higher education, all over the country.

Environment Minister Launches “Harit Diwali, Swasth Diwali” Campaign:

Union Minister for Environment, Forest and Climate Change, Dr.  Harsh Vardhan, launched the “Harit Diwali, Swasth Diwali” campaign.  Addressing a gathering of about 800 children from schools of Delhi and NCR, the Minister impressed upon the children the importance of their contribution towards reducing pollution by not bursting harmful fire crackers during Diwali.

PM addresses Young Entrepreneurs at the “Champions of Change” initiative organised by NITI Aayog:

The Prime Minister interacted with Young Entrepreneurs at the “Champions of Change” initiative organised by NITI Aayog at Pravasi Bharatiya Kendra. He described the “Champions of Change” initiative as one effort to bring together diverse strengths for the benefit of the nation and society.

Six groups of Young Entrepreneurs made presentations before the PM on themes such as – Soft Power: Incredible India 2.0; Education and Skill Development; Health and Nutrition; Energizing a sustainable tomorrow; and Digital India; New India by 2022.

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Government extends tax exemption for industry in NE, hilly states:

 Industries in the north eastern and Himalayan states will continue to get tax exemption till March 2027, albeit as refund, under the current GST regime which was rolled out on July 1, Finance Minister Arun Jaitley.

Industries in the north eastern and Himalayan states of Jammu and Kashmir, Himachal Pradesh and Uttarakhand under the previous excise regime used to get 10-year exemption.

Cabinet approves MoU between India, Sweden on IPR:

The Union Cabinet cleared a MoU signed between India and Sweden on intellectual property right (IPR) cooperation, aimed at benefiting entrepreneurs, investors and businesses. This meeting is chaired by Prime Minister Narendra Modi. It will enable India to exchange experiences in innovation and IP ecosystems.    

The MoU establishes a wide-ranging and flexible mechanism through which both countries can exchange best practices and work together on training programmes and technical exchanges to raise awareness on IPRs and better protect intellectual property rights.

The government hopes that the MoU signing will further the objective of National IPR Policy, 2016, and sees it as a landmark step towards becoming a major player in global innovation.

Sweden

• Currency: Swedish krona
• Capital: Stockholm

Launch of GeMSamvad: The GeM -Industry forum

An MoU was signed between Government eMarketplace (GeM) SPV and the Confederation of Indian Industry (CII), in the presence of Smt Nirmala Sitharaman, Commerce & Industry Minister at Udyog Bhawan, New Delhi. Smt S Radha Chauhan, CEO GeM and Sh Chandrajit Banerjee, DG, CII singed the MoU on behalf of GeM SPV and CII respectively.

This MoU between GeM and CII is aimed at establishing GeM Samvaad – a participative and collaborative approach with the industry for promoting Indian industry and entrepreneurship. As part of this initiative GeM & the Indian industry shall work together to:

• Create GeM related awareness and onboard industry members from across the country.
• Create a GeM-Industry Forum for collaboration with the Indian Industry for, seeking inputs on the technical specifications of products and SLAs of services to be procured by the Government agencies, improving the quality of products/services procured especially from the MSMEs, organize annual Public Procurement Convention of all stakeholders and set up GeM Resource Centres at CII Regional Offices

INTERNATIONAL

India, Turkmenistan hold talks to boost ties:

          India and Turkmenistan reviewed the entire bilateral relations and took stock of the progress achieved in key areas like energy, trade and security, the Ministry of External Affairs said. The Deputy Prime Minister and Foreign Minister of Turkmenistan Rashid Meredov led a high-level delegation comprising senior officials of the Government of Turkmenistan to New Delhi from August 13-15.

The delegation participated in the 6th Session of the India-Turkmenistan Inter-Governmental Commission (IGC) on Trade, Economic, Scientific and Technological Cooperation.

Turkmenistan

• Currency: Turkmenistan manat
• Capital: Ashgabat

SpaceX successfully launches HP’s supercomputer to ISS:

          SpaceX successfully launched Hewlett Packard Enterprise’s (HPE) ‘Spaceborne Computer’ towards the International Space Station using Falcon 9 rocket.

The launch is part of HPE’s joint experiment with NASA to test if high performance computing hardware can survive in outer space conditions. SpaceX also recovered the Falcon 9 rocket, marking its 14th successful rocket landing.

Sir David Attenborough has 100-million-year-old damselfly from Burma named after him:

          Sir David Attenborough finally earned his wings after scientists named a 100-million-year-old damselfly after the veteran broadcaster and naturalist. Researchers led by Professor Edmund A. Jarzembowski have formally named the insect as Mesosticta davidattenboroughi as a belated 90th birthday present to the world’s most famous naturalist.

Qatar launches new direct sea route to Pakistan as Gulf blockade continues:

          Qatar has launched a new direct route between the country’s Hamad Port and Pakistan’s port of Karachi.

It will also offer “fast and secure” corridor for importers and exporters, with transit time of six days from Qatar to Karachi and eight days back. The new shipping line provides more options for customers, exporters and importers from both countries, covering new important ports from around the world, which will play an important role in supporting trade between Qatar and its partners of the world

Qatar

• Currency: Qatari riyal
• Capital: Doha

Pakistan

• Currency: Pakistani rupee
• Capital: Islamabad

BANKING & BUINESS

Karur Vysya Bank inaugurates AADHAAR enrolment centre:

          Karur Vysya Bank unveiled the Aadhaar Enrolment Centre here following UIDAI’s directive last month.

The Unique Identification Authority of India had advised commercial banks to provide Aadhaar enrolment and updation facility at various branches in its July 13 notification.

Karur Vysya Bank identified the branches and ensured early implementation of the service. KVB is the first private sector bank to provide this service in the country, the bank said in a release. The process of enrolment or updating the details in AADHAAR can be completed in about 15 minutes.

HDFC Bank cuts interest rates on savings accounts to 3.5%:

HDFC Bank Ltd cut interest rates on most of its savings accounts to 3.5% from 4%. Customers with savings bank account balance of 5 million rupees and above will continue to earn interest at 4 percent per annum.

State Bank of India had cut deposit rates on most of its savings accounts to a six-year low last month to boost net interest margins, prior to the interest rate cut by the Reserve Bank of India. Lenders such as Yes Bank Ltd and Axis Bank Ltd among others have also cut interest rates on certain savings accounts.

HDFC

• Headquarters: Mumbai
• Chairman: Aditya Puri

Emma Stone named 2017’s highest-paid female actor with $26m:

          Emma Stone has been named Hollywood’s best-paid female actor in Forbes’ annual list of top earners. The 28-year-old made $26m in the last 12 months, the majority of which was earned from her Oscar-winning performance in the musical romance La La Land. The film made over $445m worldwide.

APPOINTMENTS & RESIGNS

Vishal Sikka resigns as MD and CEO of Infosys:

          Vishal Sikka has resigned as the Chief Executive Officer and Managing Director of Infosys. Pravin Rao has been appointed as the interim CEO. Sikka will now be the executive vice-chairman of the company.

Paris Saint-Germain new boy Neymar takes up goodwill ambassador position for Handicap International:

Brazilian star Neymar has become a goodwill ambassador for Handicap International, pledging to work for millions who are ‘less visible’ but deserve equality.

Fresh from his first win with Paris Saint-Germain and his world-record signing from Barcelona, which Sportsmail reported was worth £198million, Neymar was announced as a goodwill ambassador outside the United Nations in Geneva.

Sanjiv Gupta appointed president and MD of General Motors India:

 General Motors India announced the appointment of Sanjiv Gupta as the new President and Managing Director of the company.

The current President and Managing Director Kaher Kazem will hand over the reins of the company to Gupta, who is Chief Financial Officer, effective September 1.

Sohail Mahmood Takes Charge as Pak’s High Commissioner to India

Pakistan’s High Commissioner-designate Sohail Mahmood arrived in India and took charge at the Indian High Commission. Mahmood served as the Ambassador of Pakistan to Thailand from 2009-2013.

One of the senior-most officers of the Pakistan Foreign Service, he succeeds career diplomat Abdul Basit, who served as the country’s envoy for four years.

Adnan Sami, Yesudas appointed Bharat Bhavan trustees:

Pakistan-origin singer Adnan Sami, who got Indian citizenship last year, and eminent Carnatic musician and playback singer K J Yesudas have been nominated as trustees of the city-based Bharat Bhavan, a senior Madhya Pradesh government.

The Union government made these nominations at the cultural centre, established and financed by the Madhya Pradesh government, and conveyed it to the state administration, Principal Secretary of the Madhya Pradesh Culture Department Manoj Shrivastava said.

AWARDS

Music icon Bappi Lahiri awarded 7th Dr. Ambedkar award:

          Bappi Lahiri, 1st music director who composed songs for Bharat Ratna Shri. Atal Bihari Vajpayee & Bharat Ratna Dr. Ambedkar gifted the CDs to Honorable President of India Mr. Ram Nath Kovind in the presence of Home Minister Rajnath Singh

Reliance Power’s Sasan coal mine awarded National Safety Award:

          Reliance Power said its Sasan captive coal mine has been awarded the National Safety Award (Mines) for 2013 and 2014. Under “commendable safe work environment and safety practices” category.

The Sasan Mine Moher and Moher Amlohri Extension coal mines is a captive fuel source for Sasan Ultra Mega Power Project (UMPP) developed by Sasan Power, a wholly owned subsidiary of Reliance Power. Sasan UMPP is the largest integrated power plant and coal mine globally. Sasan Coal Mine is India’s largest coal mine by volume handled.

SPORTS

Alexander Zverev beats Roger Federer to win Rogers Cup final:

 Alexander Zverev kept his winning streak alive with a victory over Roger Federer in the Rogers Cup final in Montreal, Canada.

Rafael Nadal to return to No 1 for first time:

          Rafal Nadal is set to return to world number one for the first time in three years after Roger Federer withdrew from the Cincinnati Masters with a back injury.

The Swiss star Roger Federer  , ranked No. 3, is sidelined along with No 1 Andy Murray, No 4 Stan Wawrinka, No 5 Novak Djokovic and defending champion and world number six Marin Cilic leaving Nadal as the top-seeded player remaining in the draw.

Serena Williams named highest paid female athlete of 2017:

          American tennis player Serena Williams has topped the Forbes’ list of highest paid female athletes of 2017, with $27 million in earnings between June 2016 and June 2017.

OBITUARY

Veteran photographer S Paul dies at 88:

Veteran photographer S Paul died in New Delhi at the age of 88.  Paul received recognition and fame as a professional photographer when his pictures were selected for publication in three renowned British publications Amateur Photographer, Miniature Camera and Miniature Camera World.

Ex-Kerala advocate general M K Damodaran passes away:

          Former Kerala advocate general M K Damodaran passed away in Kochi after a prolonged illness. Damodaran, died at the age of 77.