Daily Current Affairs Updates – 25th September 2016

    Daily Current Affairs Updates–25th September 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 Mission on Bioeconomy

    i. National Mission on Bioeconomy was launched in Shillong by the Institute of Bio-resources and Sustainable Development (IBSD) under the Ministry of Science and Technology.

    ii. The mission focuses on sustainable utilization of renewable biological resources for food, bio-based products and bio-energy through knowledge-based approaches.
    iii. It could have the potential to generate new solutions for the planet’s major challenges in the field of energy, health, food, water, climate change and deliver social, environmental and economic benefits.
    iv. The latest estimate pegs India’s fast-growing bioeconomy at USD 35 billion in 2015, which can even rise to USD 100 billion.
    v. The mission is unique to south-east Asia and India has become one of the few countries to have tapped bio-resources, which when optimally utilized can create a large number of jobs at village level.
    Rajasthan replaces 5 lakh streetlights with LED bulbs

    i. Rajasthan becomes the first state to adopt Centre’s Street Lighting National Programme (SLNP) in all its urban local bodies (ULB). Almost 5 lakh conventional streetlights have been replaced with LED streetlights across the state.
    ii. The project has been funded by Energy Efficiency Services Limited (EESL), a public energy services company under the administration of Union ministry of power at no cost to the state.
    Race Course Metro station will now be Lok Kalyan Marg station

    i. Race Course Metro Station will now be called Lok Kalyan Marg Metro station in line with renaming of the Race Course Road earlier this week.
    ii. While the station name boards will be changed immediately, it will be followed by gradual changes in the automatic announcement system, maps, digital displays inside the trains and so on.
    iii. “Delhi Metro Rail Corporation (DMRC) has initiated the process of changing the name of the Race Course Metro station to Lok Kalyan Marg Metro station as per the directive of the Government,”
    5 Indian cities named in Mastercard’s top 100 global destinations’ list

    i. Five Indian cities have made it to the Mastercard Global Destinations Cities Index of ‘Top 100 destination cities for 2016’, with Mumbai ranking at number 27, Chennai at the 30th rank, New Delhi at number 48, Kolkata at 62nd rank, and Pune at the 91st, MasterCard said in a press release.
    In the Fastest Growing Destination Cities category, Mumbai and Chennai ranked 14 and 19, respectively, with at least one million overnight visitors in 2016.
    ii. Furthermore, Mumbai was the only Indian city to secure a spot in Asia Pacific’s ‘Top 10 Destination Cities’, in terms of International Overnight Visitors in 2016. With 4.86 million visitors along with a visitor spend of $3.6 billion (nearly Rs 23,949.9 crore) in 2016, Mumbai ranked 10th, with Shanghai preceding it.
    Obama opens new African American Museum

    i. President Barack Obama today opened the National Museum of African American History and Culture, an institution dedicated to the many threads of black suffering and triumph.
    ii. The first black President of the United States cut the ribbon to inaugurate the striking 37,000-square-meter bronze-clad edifice before thousands of spectators gathered in the nation’s capital Washington to witness the historic opening.
    iii. Mr Obama said, beyond the majesty of the building, what makes this occasion so special is the larger story it contains. Stevie Wonder and Oprah Winfrey attended the star-studded public ceremony.
    ICICI Prudential Mutual Fund hired to manage CPSE ETF assets

    i. ICICI Prudential Mutual Fund has been appointed by the government to manage the second Central Public Sector Enterprises (CPSE) exchange traded fund (ETF) comprising public sector undertakings’ (PSUs) stocks in the current fiscal with an estimated corpus of Rs6,000 crore.
    ii. The appointment criteria and evaluation process comprises both technical and financial parameters. The other fund houses in the race were Reliance, HDFC, SBI, UTI, Kotak, and Birla Sun Life Mutual Funds, industry sources said.
    ftcash team-ups with ICICI Bank to launch UPI for merchants – Business Standard – ICICI Bank
    iii. Mobile payments and loans start-up ftcash has tied-up with ICICI Bank to launch the Unified Payment Interface (UPI) platform for merchants to make payments easier for them.
    iv. “ftcash, backed by IvyCap Ventures, is the first fintech startup to launch UPI for merchants in association with ICICI Bank. Now you can pay a vegetable vendor who sells on the sidewalk or your newspaper vendor using UPI,” the company said in a release.
    v. It is a virtual point of sale (POS) for micro-merchants to accept payments through credit cards, debit cards, wallets such as Freecharge, Mobikwik, PayPal.  “UPI is the latest addition to this open architecture platform,” it added.
    H R Khan Committee in News

    i. H R Khan committee on development of corporate bond in August 2016 recommended that foreign portfolio investors be allowed to trade directly in corporate bonds.
    In accordance with it, the Securities Exchange Board of India now allowed foreign portfolio investors (FPI) to trade directly in corporate bonds without needing any broker.
    ii. FPIs will have an option to “directly access corporate bond market without brokers as has been allowed to domestic institutions such as Banks, Insurance Companies, Pension Funds etc”.
    iii. The FPIs can only do the trading for their own need and not on behalf of some others.
    Access to Over-the -Counter (OTC), Request for Quote (RFQ) and Electronic Book Provider (EBP) platforms of recognized stock exchanges will be provided to FPIs only for proprietary trading and participation of FPIs will help in deepening the Corporate Bond market.
    SEBI Relaxes Norms for Employees

    i. The Securities and Exchange Board of India (SEBI) decided to relax its regulations to enable employees to apply for shares over the Rs 200,000 limit.
    New Regulations:
    ii. The application for shares of the value in excess of Rs 2 lakh shall be considered as application for additional shares and shall be considered only in the event of under-subscription in the employee reservation portion.
    iii. The unsubscribed shares available in the employee reservation portion shall be allotted on a proportionate basis to the employees who have applied for the additional shares.
    iv. Value of total allotment to an employee under the employee reservation portion, including the additional allotment shall not exceed Rs 5 lakh.
    Another Decision:
    SEBI also decided to increase the limit of foreign investment in Indian stock exchanges by 10 per cent to 15 per cent and allow foreign portfolio investor to acquire shares of unlisted stock exchanges through transactions outside of recognized stock exchange including the initial allotment.
    Uttarakhand govt signs MoUs worth Rs 507 cr to boost tourism

    i. The Uttarakhand government has signed MoUs worthRs 507 crore toboost tourism. MoUs were signed with nine companies during the ‘Atulya Bharat’ investors’ meet organized by the UnionTourism Ministry at New Delhi.
    ii. The MoUs were largely related to Tent City, wellness resorts, yoga, wellness institutes, Tehri lake, a hill resort and the functioning and management of the Dak Bungalows in the state
    Chandigarh French Development Agency sign MoUs on Smart City Project

    i. Chandigarh Administration and French Development Agency(AFD) signed a memorandum of understanding (MoUs) on Chandigarh Smart City Projectand ‘Technical Cooperation’ in the field of Sustainable Urban Mobility here today.
    ii. TheMoUs were signed by K K Jindal, Secretary Transport, Chandigarh Administration and Minister Counsellor, Embassy of France in India, Jean Marc FENET and Director French Development Agency, Nicolas Fornage.
    Arun Goyal appointed Additional Secretary of GST Council

    i. Senior IAS officerArun Goyal has been appointed as AdditionalSecretary in the Goods and Services Tax (GST) Council.
    ii. The Council, headed by Finance Minister Arun Jaitley, is mandated to decide on tax rate, exempted goods and the threshold limit.
    iii. The Appointments Committee of Cabinet has approvedGoyal’sappointment against the newly created post, an order issued by Department of Personnel and Training said.
    Goyal, a 1985 batch IASofficer of Union Territory cadre, is at present working as Additional Secretary, Project Monitoring Group, Cabinet Secretariat.
    Countdown is going on smoothly for ISRO’s first ever multiple launch

    i. The countdown for the national space agency ISRO’s first ever multiple launch of eight satellites in two different orbits, is going on smoothly at the first launch pad ofSatish Dhawan Space Centre, Sriharikotta.
    ii. The 48-and-a-half hour countdown for thePSLV-C35 mission carrying Indian meteorological satelliteSCATSAT-1 and seven other payloads belonging to three foreign customers and two Indian Universities began yesterday.  This would be the37th flight for thePSLVand the 15th time it will blast off in its extended version.
    Ashwin fastest Indian to reach 200 Test wickets

    i. Ravichandran Ashwinbecame the fastest Indian and second fastest overall to register200 Testwickets, after reaching the landmark in his37th Test against New Zealand on Sunday.
    ii. Previously,Harbhajan Singh was the fastest Indian to take200 Test wickets, in46 Tests. FormerKiwi cricketer Clarrie Grimmett is the fastest overall bowler to achieve the feat,in 36 matches.
    Velavan Senthilkumar wins U-19 Asian title

    i. India’s emergingplayer Velavan Senthilkumar bagged theUnder-19 Asian Junior Individualsquash championship title in Kuala Lumpur, Malaysia.  He beat Jordan’s Mohammad Al-Sarraj


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