CURRENT AFFAIRS – SEPTEMBER 13, 2017

NATIONAL

Govt to issue Rs 100, Rs 5 coins to mark MGR birth centenary:

   The government will issue Rs 100 and Rs 5 coins to commemorate the birth centenary of Bharat Ratna awardee and former Tamil Nadu Chief Minister late M G Ramachandran.

The coins will bear his portrait in the centre along with the inscription ‘DR M G Ramachandran Birth Centenary’ on the lower periphery. The same will also be in Devnagari script on the upper periphery.

The year ‘1917-2017‘ will be flanked below the portrait of Dr M G Ramachandran, said the notification.

On the obverse side, the coins will bear the Lion Capital of Ashoka Pillar in the centre with the inscription ‘Satyamev Jayte’.

The Rs 100 and Rs 5 coins will weigh 35 grams and 6 grams, respectively.

AYUSH Minister inaugurates India’s first advanced Homoeopathy Virology lab in Kolkata:

The Union Minister of State for AYUSH (Independent Charge) Shri Shripad Yesso Naik inaugurated India’s first State of art virology laboratory at Dr. Anjali Chatterjee Regional Research Institute for Homoeopathy in Kolkata. In his inaugural address the Minister appreciated the popularity of Homoeopathy in West Bengal.

Additional information of Homoeopathy Virology lab:

The laboratory, established at a cost of Rs. 8 crore is the only one in India for conducting basic and fundamental research in Homoeopathy for viral diseases like influenza, Japanese encephalitis, dengue, chickunguniya and swine flu. New drugs and technologies would also be developed here to combat emerging challenges of viral diseases.

West Bengal

• Capital: Kolkata

• Chief Minister: Mamata Banerjee

• Governor: Keshari Nath Tripathi

Nearly 80 lakh kids to get enrolled under ‘School Chalo Abhiyan’ soon: HRD Minister Prakash Javadekar:

With the government taking several initiatives to eradicate illiteracy in India, reports claim that 70-80 lakh” students in the country are still out of school.

Now, in order to send kids to school, the Union Human Resource Development Minister Prakash Javadekar has said that the government will undertake ‘School Chalo Abhiyan’ a programme from next year to enrol “70-80 lakh” students in the country who are out of school.

INTERNATIONAL

Turkey signs deal to buy Russian S-400 missile systems:

Turkey has signed a deal with Russia to buy S-400 missile defence systems in its first major weapons purchase from Moscow, quoted President Recep Tayyip Erdogan.

The purchase of the surface-to-air missile defence batteries, Ankara‘s most significant deal with a non-NATO supplier, comes with Turkey in the throes of a crisis in relations with several Western states.

Turkey

• Currency: Turkish lira

• Capital: Ankara

UN approves Sanctions against North Korea:

The United Nations Security Council approved new sanctions aimed at punishing North Korea for its latest missile and nuclear tests after the US dropped demands such as an oil embargo to win support from Russia and China.

The 15-member council passed the resolution unanimously following a week of talks that began when Kim Jong Un’s regime tested its most powerful nuclear bomb.

The resolution seeks to cut imports of refined petroleum products to 2 million barrels a year, ban textile exports and strengthen inspections of ships that are believed to be carrying cargo in breach of sanctions.

North Korea

• Currency: won

• Capital: Pyongyang

• Leader: Kim Jong-un

India, Belarus sign 10 pacts to expand cooperation:

India and Belarus inked 10 pacts to expand cooperation in a range of areas and decided to explore joint development and manufacture of military platforms, giving a fresh momentum in bilateral ties.

Additional information on Pacts:

Prime Minister Narendra Modi and Belarus President A.G. Lukashenko, during their extensive talks, also agreed to focus on ramping up economic engagement between the two countries, holding that there was a huge scope for boosting trade and investment.

“To encourage joint development and manufacturing in defence sector under the ‘Make in India’ programme.

The Prime Minister said, he and Mr. Lukashenko had reviewed the “architecture” of India-Belarus partnership and exchanged ideas to expand it.

The pacts inked provided for enhancing bilateral cooperation in a variety of areas, including oil and gas, education and sports.

Belarus

• Currency: Belarusian ruble

• Capital: Minsk

Pakistan And China Commence Shaheen VI Joint Air-Exercise:

The air forces of China and Pakistan began a joint training exercise and deployed their latest fighter jets and AWACS aircraft.

Pakistan has sent JF-17 Thunder fighter jets and early warning aircraft to join the exercise, named “Shaheen VI“.

Additional information on Joint Air-Exercise:

China has dispatched J-11 fighters, JH-7 fighter-bombers, KJ-200 AWACS aircraft and ground forces including surface-to- air missile and radar troops, Shen Jinke, spokesperson for the People’s Liberation Army (PLA) Air Force said.

The exercise will run until September 27 in China.

AWACS is Airborne Warning And Control System, a mobile, long-range radar surveillance and control centre for air defence.

The Chinese navy’s aviation troops are also participating in the training.

The “Shaheen” joint training between the two militaries which maintain close relations was launched in March 2011.

Pakistan

• Currency: Rupee

• Capital: Islamabad

• Prime Minister: Shahid Khaqan Abbasi

China

• Currency: Renminbi
• Capital: Beijing

• Prime minister: Li Keqiang

• President: Xi Jinping

US Supreme Court allows Trump’s broad refugee ban:

The US Supreme Court has allowed President Donald Trump to broadly implement a ban on refugees entering the country from around the world.

The Supreme Court justices granted a request from the Trump administration to block a lower court decision that would have eased the restrictive refugee policy and, according to the justice department, allowed up to 24,000 additional refugees to enter the US before October.

USA

• President of the United States: Donald Trump

• Currency: United States Dollar

• Capital: Washington, D.C.

APPOINTMENTS

Trump nominates Indian-American lawyer Manisha Singh to key diplomatic position:

US President Donald Trump has nominated noted Indian-American lawyer Manisha Singh to a key administration position in the State Department, making her in charge of economic diplomacy.

Currently, Chief Counsel and Senior Policy Advisor to Senator Dan Sullivan, Singh from Florida, if confirmed by the Senate would replace Charles Rivkin as the assistant secretary of state for economic affairs.

Donald Trump appoints Indian-American to key position in White House:

US President Donald Trump has appointed Indian-American Raj Shah to a key position in his communications team, the White House. Trump also appointed his confidant Hope Hicks as his Communications Director. Hicks previously served as Assistant to the President and Interim Communications Director.

Group of minister appointed to resolve GSTN issues:

The Union Finance Minister Arun Jaitley has set up a Group of Ministers led by Deputy Chief Minister of Bihar Sushil Kumar Modi and a committee on Exports under Revenue Secretary, Hasmukh Adhia to monitor and resolve the IT challenges faced in the implementation of GST and exports, respectively.

Additional information on Group of minister:

The members of the GoM are Amar Agrawal, minister for commercial taxes, Chhatisgarh; Krishna Byre Gowda, minister for agriculture, Karnataka; T.M. Thomas Isaac, finance minister, Kerala and Etela Rajender, finance minister, Telangana.

The GoM will be assisted in its work by the chairman, Goods and Services Tax Network (GSTN) and the CEO of GSTN. The decisions was taken at the GST Council Meeting held in Hyderbad. The Committee on Exports will look at the issues of export sector and recommend to the GST Council for suitable strategy to help the sector in the post-GST scenario. It will also have chairperson, CBEC; Member (Customs), CBEC; Director General, DGFT; Addional Secretary, GST Council; Director General, DG Export Promotion and Commissioners of Commercial Taxes from Gujarat, Maharashtra, Karnataka, Uttar Pradesh and West Bengal.

BANKING & BUSINESS

Bandhan Bank appoints lead managers for proposed IPO:

The board of Kolkata-based Bandhan Bank has appointed Goldman Sachs Group Inc, JPMorgan Chase & Co, Axis Bank Ltd, JM Financial Ltd and Kotak Mahindra Bank as lead managers to manage its proposed initial public offering.

Kotak Mahindra Bank will act as the left lead in the issue. The final decision on the proposed IPO will be subject to all regulatory approvals.

According to CS Ghosh, MD and CEO, Bandhan Bank, the size of the issue, its timing and other related aspects will be finalised in the due course.

Additional information on Bandhan Bank:

Bandhan is the first microfinance institution to receive universal banking licence in 2015. The Reserve Bank of India’s guidelines mandates the bank to get itself listed within a span of three years from the commencement of banking operations.

Bandhan Bank

• CEO: Chandra Shekhar Ghosh

• Headquarters: Kolkata

Banks need $65 billion more capital to meet Basel-III norms: Fitch

Indian Banks will require about $65 billion in additional capital, lower than estimated earlier, to meet the Basel III capital adequacy norms by March 2019 and push loan growth, Fitch Ratings.

Additional information on Fitch:

Fitch Ratings Inc. is one of the “Big Three credit rating agencies“, the other two being Moody’s and Standard & Poor’s. It is one of the three nationally recognized statistical rating organizations (NRSRO) designated by the U.S. Securities and Exchange Commission in 1975.

Fitch

• Headquarters: New York City, New York, U.S.

London retains top rank in 2017 Global Financial Centres Index:

London remains the globe’s most attractive financial centre, extending its lead over New York despite Britain’s looming departure from the European Union, a survey.

Listed below are the Top 10 financial centres that made it to the GFCI 2017:London

1. New York

2. Hong Kong

3. Singapore

4. Tokyo

5. Shanghai

6. Toronto

7. Sydney

8. Zurich

9. Beijing

AWARDS

Tahir Mahmood Bags N.R. Madhava Menon Best Law Teacher Award 2017:

Eminent jurist Prof. (Dr.) Tahir Mahmood has been awarded the prestigious Prof. N.R. Madhava Menon Best Law Teacher Award – 2017.

SPORTS

Kochi to host BWF Senior Badminton World Championships:

The coastal city of Kochi is all set to host the BWF World Senior Badminton Championships from September 11 to 17.

OBITUARY

Sir Peter Hall, RSC founder and former National Theatre director, dies aged 86:

Sir Peter Hall, the former director of the National Theatre and founder of the Royal Shakespeare Company, has died aged 86, the theatre said.

Click here for previous Current Affairs