17 Aug 2016

Daily Current Affairs Updates–17th August 2016

Daily Current Affairs Updates–17th August 2016:
Daily Current affairs News Updates about the National and International events were listed here. Candidates those who are preparing for IBPS/SBI/PO/Clerk exam and all other competitive exams can use this.

NATIONAL:

Jharkhand Assembly convened today to ratify GST Bill.



·         A day-long session of Jharkhand Assembly has been convened today to ratify Goods and Services Tax (GST) Bill passed by both Houses of Parliament recently.
·         AIR correspondent reports, both the ruling BJP led NDA alliance and the JMM led opposition have prepared their floor strategy for today’s one day session of state Assembly on GST.
·         The government has asked all the Secretaries and other concerned officers to come prepared and be present in their gallery for any urgent query.
·         Jharkhand will be the third state after Assam and Bihar to ratify the GST Bill.
NHAI collaborates with PFC under adopt a Green Highway Program
·         National Green Highways Mission (NGHM) under NHAI has collaborated (work jointly on a project) with Power Finance Corporation Ltd. (PFC) for plantations work on NH 7 in Nagpur region
·         Power Finance Corporation Ltd. has provided financial assistance of Rs. 13 crore for plantation and five year maintenance under their CSR funds.
·         This event is historic as this marks the first collaboration with the National Green Highways Mission - NHAI under their ‘Adopt a Green Highways’ Program.
·         Adopt a Green Highway Program is an initiative by NGHM to engage Corporates, Public Sector Units, Governmental organizations, institutions and individuals under CSR and Public Private Partnership for developing green corridor along NHs.
UP: SC quashes order to grant 30 % quota in PG courses to doctors
·         Supreme Court has upheld Allahabad High Court judgment quashing Uttar Pradesh government order to provide 30 per cent reservation in admissions to post-graduate medical courses to those doctors in government service who have served in rural areas.
·         The Judgment came on a batch of petitions including those filed against the High Court verdict.
·         The High Court had quashed the government order, issued on February 28, 2014 by which 30 per cent seats in post-graduate degree courses in medicine and other disciplines were reserved for in-service candidates who had three years or more of rural service in notified and difficult areas.
Gujarat govt. to implement 7th Pay Commission recommendations from 1st of January
·         Gujarat government has approved the implementation of the recommendations of 7th Pay Commission, raising salaries of over 8.5 lakh state employees and pensioners.
·         The hike will cost 8,513 crore rupees annually to the exchequer
·         The Cabinet gave its approval to a proposal to implement the recommendations on Tuesday at a meeting in Gandhinagar chaired by Chief Minister Vijay Rupani.
·         This was announced by Chief Minister Nitin Patel, who is also holding the charge of Finance Ministry.
INTERNATIONAL:
Global Innovation Index 2016: Switzerland, Sweden, UK, U.S., Finland, Singapore Lead; China Joins Top 25
·         China joins the ranks of the world's 25 most-innovative economies, while Switzerland, Sweden, the United Kingdom, the United States of America, Finland and Singapore lead the 2016 rankings in the Global Innovation Index (GII), released today by Cornell University, INSEAD and the World Intellectual Property Organization (WIPO).
·         China's top-25 entry marks the first time a middle-income country has joined the highly developed economies that have dominated the top of the GII in its nine editions of surveying the innovative capacity of over 100 economies.
·         Despite China's rise, an "innovation divide" persists between developed and developing countries amid increasing awareness that fostering innovation is crucial to a vibrant, competitive economy.
·         "In this current economic climate, uncovering new sources of growth and leveraging the opportunities raised by global innovation are priorities for all stakeholders," says WIPO Director General Francis Gurry.
·         Fifteen of the top 25 economies in the GII come from Europe. Switzerland retains the top position for the 6th consecutive year. Following regional leaders Sweden and UK are Finland (5), Ireland (7), Denmark (8), Netherlands (9), and Germany (10), which joins the top 10 in 2016.
BANKING NEWS:
IOB to conduct EGM to allot shares worth Rs 1,551 crore to GoI
·         Indian Overseas Bank will be conducting an Extraordinary General Meeting (EGM) of shareholders of the Bank on September 15 to issue equity shares to the Government of India to raise Rs 1,551 crore, as part of Centre's plans to infuse funds into the public sector lender.
·         The central government has recently announced an allocation of Rs 3,101 crore by way of preferential allotment of equity to the bank, which is struggling with high non-performing assets (NPA).
·         Almost 50 per cent of this amount, Rs 1,551 crore, is marked for immediate infusion, which would help the Bank to keep its capital adequacy ratio within the limits.
RBI imposes penalty on four cooperative banks
·         The Reserve Bank has imposed penalties of up to Rs 5 lakh on four cooperative banks for violation of various norms.
·         RBI said it has imposed a monetary penalty of Rs 5 lakh on The Cooperative City Bank, Guwahati, for flouting KYC norms and non-adherence to requirements relating to identification and reporting of suspicious transactions.
·         A penalty of Rs 2 lakh has been imposed on Indapur Urban Cooperative Bank, Indapur, District Pune, for violations of norms related to KYC/anti-money laundering and credit exposure norms on loans.
·         RBI imposed penalty of Rs 1 lakh on Shri Dadasaheb Gajmal Cooperative Bank, Pachora, District Jalgaon for violation of norms relating to creation of floating charge on its assets without the prior permission.
·         In a separate statement, the central bank said it has imposed penalty of Rs 1 lakh on The Model Cooperative Urban Bank, Hyderabad, Telangana for violation directives and guidelines on loans and advances to directors and their relatives.
BUSINESS NEWS:
Tata Power Solar commissions 100 MW project for NTPC
·         Tata Power Solar, one of the country’s largest integrated solar companies, on Tuesday announced that it had successfully commissioned a 100 MW solar project for NTPC in Anantapur, Andhra Pradesh.
·         This is the biggest solar project commissioned using domestically manufactured solar cells and modules, the company said in a release.
·         The plant is expected to generate nearly 160 million kWh of energy per year and help offset approximately 110,000 tonnes of carbon dioxide emissions in its first year of operation. — Special Correspondent
APPOINTMENTS:
Modigovt appoints new governors for 3 states; Najma Heptullah to be new Manipur Governor
·         The Narendra Modi-led BJP government on Wednesday appointed new governors for Assam, Manipur, Punjab, and a Lieutenant Governor for Andaman and Nicobar Islands, a release from the Rashtrapati Bhavan said.
·         Najma A. Heptulla who resigned last month from the Union Cabinet, has been appointed as the Governor of Manipur, replacing V. Shanmuganthan.
·         Banwarilal Purohit has been made the Governor of Assam, replacing Padmanabha Balakrishna Acharya.
·         Punjab Governor Kaptan Singh Solanki has been replaced by VP. Singh Badnore. Jagdish Mukhi has been appointed as the Lieutenant Governor of the Andaman and Nicobar Islands.
AWARDS AND HONORS:
A R Rahman honoured with Tamil Ratna Award
·         Noted music composer A.R. Rahman on 15 August 2016 was honoured by the Tamil Ratna Award.
·         The award was presented by New York based Tamil Sangam.
·         Rahman was bestowed with the honour after his concert at the United Nations General Assembly (UNGA) chamber. Rahman was invited at the UNGA to perform a concert to honour M.S. Subbulakshi, the doyen of Carnatic music.
·         The concert was sponsored by India's UN Mission and Sankara Nethralaya, a Chennai-based charity organisation.
SCIENCE AND TECHNOLOGY:
China Launches Pioneering 'Hack-Proof' Quantum-Communications Satellite
·         China launched the first-ever quantum satellite on Aug. 15 to help develop an unhackable (that cannot be hacked or broken into) communications system.
·         The nation's Quantum Experiments at Space Scale (QUESS) spacecraft lifted off atop a Long March-2D rocket from the Jiuquan Satellite Launch Center in the Gobi Desert.
·         "In its two-year mission, QUESS is designed to establish 'hack-proof' quantum communications by
o   transmitting uncrackable keys from space to the ground, and
o   Provide insights into the strangest phenomenon in quantum physics —quantum entanglement".
·         Many nations are working to make quantum communication a reality, but China is the first to launch a satellite dedicated to developing the technology.
SPORTS NEWS:
Rio 2016: shuttler PV Sidhu enter Women’s single semifinals; beat world no. 2 Yihan Wang
·         In Rio Olympics, shuttler PV Sindhu has stormed into the  Women’s Singles semi-finals .
·         AIR correspondent reports, there was determination and intent which pumped up PV Sindhu as she entered last-4 stage, that has convinced that a medal in Rio Olympics is not far away for India.
·         Sindhu, had a lead of 20-17 but Wang made a late comeback to tie it 20-20 but the Indian shuttler kept her cool to win the first game 22-20. In the second game, Sindhu raced to 8-13 with some brilliant cross-court smashes.
·         The Chinese was up for a fight and she scored six consecutive points to lead 19-18. But that was her last point. Sindhu will be playing against Japanese Nozomi Okuhara in the semi-finals tomorrow.
OBITUARY:  
Eminent Punjabi writer, Jnanpith awardee Gurdial Singh passes away at 83
·         Eminent Punjabi writer and novelist Gurdial Singh breathed his last here after a brief spell of illness, his family said. He was 83.
·         Singh contributed towards the promotion of Punjabi language, literature, and culture. One of his prominent works was 'Marhi da Deeva'.
Former FIFA President Joao Havelange dies at age 100
·         Joao Havelange, who as president of FIFA for two decades transformed soccer’s governing body into a multibillion-dollar business has died. He was 100.
·         The Samaritano Hospital in Rio de Janeiro said he died early today, while Rio was hosting the Olympic Games. In 2009, Havelange led off Rio’s bid presentation to the IOC in Copenhagen by inviting the members to vote to “join me in celebrating my 100th birthday'” at the 2016 Games in Brazil.
·         He was re-elected president six times, capitalising on his contact-building across world football.
·         FIFA’s membership expanded by nearly one-third, to more than 200 nations and territories, under Havelange. China was readmitted in 1980 having left the organization in 1958.




      
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