Daily Current Affairs Updates–29th November 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.
India hosts golden jubilee celebrations of UNCITRAL in New Delhi
India hosted the golden jubilee (50th anniversary) celebrations of United Nations Commission on International Trade Law (UNCITRAL) in New Delhi. The opening address at international conference of the golden jubilee celebrations of UNCITRAL was given by President Pranab Mukherjee.
United Nations Commission on International Trade Law (UNCITRAL):
UNCITRAL was established by the UN General Assembly (UNGA) in 1966 to promote the progressive unification and harmonisation of international trade law. It is the core legal body of the UN system in the field of international trade law.
It specialises in reforms in commercial law worldwide for a period of over 40 years. India is a founding member of UNCITRAL. India is only one of eight countries which have been a member of UNCITRAL since its inception. IT has a membership of 60 States selected from among States Members of the UN.
In 2015, India was re-elected for a term of six years (2016-2022). Out of total 60 members, 14 are Asian states, 14 are African, 10 Latin American& Caribbean states, 8 Eastern European and 14 Western European and other States. These member states are selected to ensure the representation of various geographic, principal economic and legal systems of the world.
Delhi has overtaken Mumbai to become India’s economic capital
According to data released by Oxford Economics, Mumbai is at number 31 among 50 top metropolitan economic entities globally in 2015, while Delhi is at 30. The Delhi extended urban agglomeration (EUA) had a Gross domestic product (GDP) at Purchasing Power Parity (PPP) of $370 billion. Mumbai EUA had a GDP of $368 billion
The Delhi High Court will today give its verdict on a petition seeking relaxation of the 2 lakh 50,000 rupees withdrawal limit for marriages. Reserving its order for today, the court had yesterday told the counsel appearing for the petitioner that relaxation has already been given wherever it is necessary.
Additional Solicitor General Sanjay Jain, appearing for the Centre, opposed the plea and said the government has already given certain exemptions but some conditions were needed so that nobody can misuse it.The plea had said, the cap of 2 lakh 50,000 rupees withdrawal for marriages should be relaxed as there were various customary donations which one gives during the wedding ceremony.
Minister for Water Resources Uma Bharti today called for aquifer mapping and aquifer recharging throughout the country to stop misuse of ground water. Inaugurating Bhujal Manthan, a conclave on Ground Water Management in New Delhi, Ms Bharti said, water scheduling should be done in the country on usage of ground water, surface water and treated water. She also emphasised on enactment of an act in this regard with punishment to the violators.
Speaking on the occasion, Minister for Drinking Water and Sanitation Narendra Singh Tomar emphasised the crisis of over exploitation of ground water. Mr Tomar said, his Ministry is working towards integrating MGNREGA in the efforts to conserve ground water. The Minister urged the secretaries of the concerned ministries to have a concept paper with detailing of the aquifer mapping in the country.
On the occasion, both the Ministers launched a mobile app ‘Mera Bhujal’. The App is first of its kind which provides information on ground water status in aquifers and information about branches of central ground water board in the country in both Hindi and English.
China expects the output value of its energy saving and environmental protection industry to rise from 4.5 trillion yuan (that is, 653 billion dollars) last year to more than 10 trillion by 2020, lifting its share of gross domestic product from 2.1 percent to 3 percent.
National Development and Reform Commission, China’s state planning agency says that the industry presently employs more than 30 million people. China is hoping that huge investment in the environmental sector will also diversify the country’s heavy industrial economy.
The Chinese government approved a “five-year plan” for the environment earlier this month, promised to make significant decrease in total emissions and bring environmental risks in effective control by 2020. In recent policy documents, the government has also promised to strengthen its environmental monitoring systems and enhance sewage and household waste treatment in the time period 2016 to 2020.
Private sector lender RBL Bank, has tied up with non banking finance company Bajaj Finance, to launch a series of co-branded credit cards for Indian customers. The first of these credit cards is proposed to be launched in the fourth quarter of FY17.
The co-branded cards are targeted at the large segment of people in metros and non-metros who have no credit cards. These will have many customer-friendly features, including no-cost EMI options, easy borrowing rates, digital payment solutions and more. The cards will also boast attractive offers and deals, said the bank in a statement.
The government has realised over 23,497 crore rupees from disinvestment as on the 15th of this month. In the current financial year, the budget estimate for disinvestment is 56,500 crore rupees . Giving this information in the Rajya Sabha today, Finance Minister Arun Jaitley said the government has identified some central public enterprises for sale in sectors like mineral and metal, oil and capital goods.
E-commerce operators like Flipkart and Snapdeal will have to deduct TCS (tax collected at source) while making payments to their suppliers, according to the new model GST law, which has done away with the definition of ‘aggregator’.
Explaining the changes in the provision, experts said the proposal will increase the compliance burden on e-commerce operators as they will have to deduct 2 per cent TCS and deposit it with the government.
The measure, Nangia& Co Director Rajat Mohan said, will not increase the incidence of taxation on consumers as the supplier will get tax credit for the TCS.The model GST law provides for 1 per cent TCS to be deducted by the E-commerce operators.
Pension regulator Pension Fund Regulatory and Development Authority, PFRDA has sought tax parity for National Pension System, NPS with that of Employees Provident Fund and Public Provident Fund, particularly with respect of lumpsum withdrawal of fund up to 60 per cent on superannuation.
The PFRDA, which regulates NPS, has asked the government to include this tax parity in the forthcoming Budget. Addressing a CII event in Mumbai, PFRDA whole-time member (economics) B S Bhandari said, they are asking for parity with other competing products like Employees Provident Fund, EPF and Public Provident Fund, PPF, where total tax exemption is available for withdrawal amount at time of superannuation.
At present, NPS beneficiaries are allowed to withdraw only 40 per cent of the total fund on superannuation without tax. Another 20 per cent can be withdrawn by paying tax, while the remaining 40 per cent can be invested in annuities.
The website Dictionary.com named the word ‘Xenophobia’ as the Word of the Year for 2016.According to Dictionary.com, there was a massive surge in lookups for the word ‘Xenophobia’ that was larger than any of the peaks seen in 2016. This rise in lookups was connected to attacks on foreign workers and overall rising xenophobia in South Africa.The largest spike in Dictionary.com’s data for the word was in the month of June 2016 with a 938 per cent increase in lookups.
Lt-General A K Bhatt was on 28 November 2016 appointed as the Director-General of Military Operations (DGMO).Lt-Gen Bhatt will succeed Lt-General Ranbir Singh, who declared at a press briefing that Army Special Forces had conducted surgical strikes against terror launch pads in Pakistan-occupied-Kashmir on 29 September 2016.
While, Lt-Gen Ranbir Singh will now head the 1 Corps (headquarters at Mathura), which is one of four strike corps among the 14 corps of the 1.3 million strong Army. He will replace Lt-Gen Shokin Chauhan, who in turn has been appointed as the director-general of Assam Rifles. General Dalbir Singh Suhag and Air Chief Marshal Arup Raha will retire from their posts on 31 December 2016.
Pink, the Amitabh Bachchan starrer Bollywood film, has been invited by the Movses Abelian, Assistant Secretary-General of the United Nations for a special screening at its headquarters in New York, USA. Directed by Aniruddha Roy Chowdhury and written by Ritesh Shah, the film- a modern Indian courtroom drama – highlights the issue of gender violence.
‘Magical Piano’, a short film by the Toonz Media Group has won an award at the prestigious UNESCO Salon Youth Video Competition 2016.Dr Avaneesh, Head of Development, Toonz Media Group received the award from Salon Films Chairman Fred Wang and UNESCO chief of Public Relations and Partnerships, Armelle Arrou. ‘Magical Piano’ is the story of a child who receives a magical piano for his birthday. The story was written by Mayul Verma from Agra, India.
Akodara village in Sabarkantha district of Gujarat recently has earned the title of becoming first digital village in India.The village, which sustains a total population of 1191 people, uses various cashless systems for payments of goods and services. All transactions in the village are carried out through digital modes like net-banking, SMS or debit cards.
Argentina defeated Croatia to win their first ever maiden Davis Cup tennis title in Zagreb, Croatia on November 28, 2016. Del Potro and Federico Delbonis are played a remarkable play to win the title. Argentina had lost in the final of the tournament four times earlier while Croatia won the title in 2005.
Fifteen-time world champion Pankaj Advani was defeated 2-7 playing against Andrew Pagett of Wales to settle for a bronze medal at the IBSF World Snooker Championship in Doha.His opponent Andrew reached the final after displaying a 14-74, 8-71, 0-87, 78-64, 0-81, 70-37, 7-80, 37-68, 19-74 win.The Indian is the only player in the world to compete at the world championship level in both sports and be successful in all the formats of both billiards and snooker.