Daily Current Affairs Updates–7th December 2016

Daily Current Affairs Updates–7th December 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
IISF-2016 to begin in New Delhi from today

Science and Technology Minister Dr Harsh Vardhan made a statement in the LokSabha regarding organising India International Science Festival, IISF-2016. The festival is being held from today at CSIR National Physical Laboratory Campus in New Delhi.The festival will continue till 11th of this month.  The five day festival will showcase India’s achievements and progress in the field of science and technology with a focus on science for masses.
The Ministry has been organising India International Science Festival in association with VijnanaBharati (VIBHA) to promote the science and technology developed by the Indian research labs and to inculcate the scientific temper among masses.
Govt asks banks to install additional 10 lakh POS to promote digital transactions

Government has asked banks to install 10 lakh additional Point of Sale, PoS terminals by March, next year in order to promote digital transactions across the country. A Finance Ministry statement said, banks have already placed orders for 6 lakh PoS machines and another 4 lakh are likely to be ordered in the next few days. There are currently about 15 lakh PoS terminals across different merchants to facilitate card based payments.
To encourage purchase of PoS machines, government has also waived 16.5 per cent excise duty payable on acquisition till March 31st next year. A special drive is being undertaken jointly by the Ministry of Labour and Employment and States’ Administration to open banks accounts for unorganisedlabour by holding camps at various locations. Nearly 2 lakh 74,000 camps have been organised, so far, in which over 24 lakh accounts have been opened.
Ambedkar’s birth anniversary to be observed as ‘Water Day’

Dr BR Ambedkar’s birth anniversary to be observed as ‘Water Day’  on 14 April across the India. The day will be observed to mark Ambedkar’s contribution in water resource management of the country. Union Minister for Water Resources, River Development and Ganga Rejuvenation Uma Bharti announced the same while addressing a National Seminar on Marching ahead on DrAmbedkar’s path of water resources management for inclusive growth.
UGC asks universities, colleges to create awareness about cashless transactions
University Grants Commission, UGC, has asked all universities and colleges across the country to launch a month-long campaign to create awareness about cashless transactions. In a letter to the universities, UGC said that a month-long campaign from December 12 can be run to educate and train students in various modes of digital payments.
According to the UGC, an important component of this campaign is to ensure that every campus becomes completely cashless by adopting digital payment systems in all its receipts, payments and transactions within the campus.
Bengal forms anti-child trafficking panel

The Chief Minister of West Bengal Mamata Banerjee has announced that the state would be setting up a special panel to stop child trafficking. Chaired by Parliamentary Affairs minister ParthaChatterjee, the committees would constitute a Chief Secretary, Home Secretary, DGP and officers and members of the opposition parties, Congress and CPI (M).
KVIC launched e-commerce platform to promote khadi: Govt

Khadi and Village Industries Commission, KVIC has taken various steps to increase organizational capacity to meet the various requirements towards implementation of the schemes and to extend requisite benefits to the Khadi and Village Industries Institutions and Units. The steps taken include administrative as well as operational aspects of KVIC.
Minister of State for MSME Giriraj Singh told RajyaSabha in a written reply that Khadi certification has been made online and simple to enable new companies to start Khadi venture. KVIC has also started e-commerce platform and franchisee system for online marketing of Khadi products and extending the marketing network.
Mr. Singh said KVIC has introduced online submission of application by the prospective beneficiaries to bring transparency and expedite disbursement of margin money subsidy under Prime Minister’s Employment Generation Programme scheme.
Chandrababu launches AP Purse mobile app to promote digital transactions

Andhra Pradesh Chief Minister N Chandrababu Naidu launched AP Purse mobile app featuring 13 mobile banking and 10 mobile wallet options, in Vijayawada yesterday. Speaking on the occasion, he said, people should choose mobile banking to overcome shortage of small currency. He said, people can pay their bills using the app and carry out their cashless transactions.
Mr. Naidu said, the State government introduced cashless transactions at fair price shops and completed 70 per cent of transactions using Aadhaar linkage to provide relief to people suffering from shortage of small currency. He said currently 2,472 crore rupees was available with the banks and the State will receive another 1,100 crore rupees shortly.
The Chief Minister said, as a convener of the committee on post demonetisation crisis and digital transactions, he would head a meeting scheduled to be held at Mumbai tomorrow.  Mr Naidu said, the mmeting will discuss the problems being faced by people for small currency and alternative measures to be adopted to ease the situation.
Odisha to appoint 1000 Banking correspondents in unbanked gram panchyats

The Odisha government has decided to appoint 1 thousand Banking correspondents in about 1 thousand unbanked gram panchyats spread across 107 blocks across the State. Banks will appoint Banking correspondents through the Odisha Livelihoods Mission, OLM in unbanked rural areas to help the people who are facing difficulties due to the effect of demonetisation.
The decision to this effect was taken at a high level meeting presided over by chief secretary Aditya Prasad Padhi at the State Secretariat in Bhubaneswar yesterday. Speaking to media, Principal Secretary, Finance, TuhinkantPandey said, recruitment of Banking correspondents will begin within two days.
He said that in the next six months, 6 thousand banking correspondents will be recruited in all 6 thousand gram panchyats of the state to assist people for cashless transaction. The meeting also emphasized on connecting the villages without banks through V-Sat for providing banking services.
Haryana CM approves implementation of  Rs. 50-crore National Hydrology Project

Chief Minister of Haryana ManoharLalKhattar has given administrative approval for implementation of the Rs 50-crore National Hydrology Project to be set up in the state with 100 per cent assistance from the Centre. The project aimed at improving the extent, quality and accessibility of information about water resources, and strengthening the capacity of water resource management institutions in the country.
The project would also develop and demonstrate tools for water resources assessment, hydrologic and flood inundation forecasting, water infrastructure operations, groundwater modelling, and river basin and investment planning. The direct beneficiaries of the project include central and state implementing agencies responsible for surface and/or ground water planning and management.
The ultimate beneficiaries would be farm communities selected for pilot projects, rural and urban water and power users and people affected by floods and droughts, and such families may benefit from improved irrigation water supply and management.
 Besides, stakeholders across the energy, inland waterways, environment and agriculture ministries, research and educational institutions, students and researchers, non-governmental organisations, civil society organisations and the private sector would also stand to gain.
INTERNATIONAL
Singapore tops global education rankings

Singapore has the highest achieving students in international education rankings, with its teenagers coming top in tests in maths, reading and science. The influential Programme for International Student Assessment, Pisa rankings, run by the Organisation for Economic Co-operation and Development, OECD, are based on tests taken by 15-year olds in more than 70 countries.
The UK remains a middle-ranking performer, behind countries such as Japan, Estonia, Finland and Vietnam. OECD education director Andreas Schleicher said Singapore was not only doing well, but getting further ahead. The Pisa provides education rankings based on international tests taken by 15-year olds in maths, reading and science.
India to establish Center of Excellence in IT at Egypt

India will establish a Center of Excellence in Information Technology at Egypt’s oldest and most prestigious Al-Azhar University. This was announced by Indian Ambassador to Cairo, Sanjay Bhattacharyya, after meeting Grand Sheikh of Al-Azhar Ahmed el-Tayeb in Cairo.
Mr Bhattacharyya discussed ways to enhance cooperation between India and the varsity on different issues with Grand Sheikh. He said, the centre will be set up in the engineering department of the university early next year, as part of an effort to enhance cooperation in education between the two countries. He said Indian Government will pay all the cost of the project. About 150 Indian students are studying in the varsity.
BANKING NEWS
RBI Authorize RXIL for 1st trade receivables exchange platform

The Reserve Bank of India, on December 1, 2016,  authorised the Receivables Exchange of India (RXIL), promoted by SIDBI and NSE, to launch the country’s first trade receivables exchange platform, TReDS, for MSMEs, buyers and financiers.
The trade receivables discounting systems (TReDS), an automated system driven platform is expected to benefit MSMEs by facilitating them to auction their trade receivables at competitive market rates through transparent bidding process on the platform by multiple financiers.
The TReDS will be the first attempt in the country to introduce factoring without recourse and will help not only in quick realisation of receivables but also in appropriate price discovery. Promoted by SIDBI, the apex financial institution for promotion and financing of MSMEs and the National Stock Exchange,RXILhas SBI, ICICI Bank, Yes Bank, SBI Caps, and ICIC Securities as other investors.
The Receivables Exchange is an auction based marketplace connecting large sellers of trade receivables to a broad network of institutional buyers.
Vijaya Bank bags SME award

Vijaya Bank has been adjudged ‘Best Bank for SME Lending’ by The Associate Chambers of Commerce and Industry of India (Assocham).The award was received by Kishore Sansi, Managing Director& CEO of the bank under ‘Best SME Lending’ category for public sector banks at the fourth SMEs Excellence Award function in New Delhi.
Vijaya Bank offers a wide range of personalized and online banking services including savings and current accounts, credit cards, debit cards, loans, mortgages etc.
BUSINESS NEWS
HDFC Life launched two micro insurance products, JeevanSuraksha and Credit Suraksha

Life insurance provider HDFC Life has launched two micro-insurance scheme named JeevanSuraksha and Credit Suraksha to provide financial security to its customers To address the needs of the Employees of Micro Finance Institutions, Co-operatives and Members / Employees of other homogenous groups to provide financial security at a nominal cost in the event of unfortunate death of a Member / Employee.HDFC Life
JeevanSuraksha :
·       It will provides insurance cover maximum 2 lakhs against untimely death.
·       3 premium payment options – Yearly renewable, Single pay& Regular pay.
Credit Suraksha :
·       It will provides insurance protection against outstanding loan liability up to Rs 2 lakhs in the event of untimely demise of the insured member. 5% discount on premium of the younger life assured.
Vijayawada Parliamentary constituency becomes first to have health insurance for all

 AP government with Tata Trusts has launched a health insurance scheme, SwathaKutumbam in Vijayawada which became India’s first constituency to have health insurance for all people include new born for a year from December 1, 2016 to November 30, 2017.
Under this insurance scheme every individual has to pay Rs 1 per day or Rs 120 per month per family as premium. It covered medicines, diagnostics, and post-surgery care will be covered. Tata Trusts has roped in Star Health Insurance as the insurance partner for SwasthaKutumbam.
AGREEMENTS&MoUs
NATO Foreign Ministers agrees; NATO& EU to boost their defense cooperation

The Foreign Ministers of the North Atlantic Treaty Organization have agreed that the NATO and the EU will boost their defense cooperation. In their meeting in Brussels yesterday, the Ministers agreed to work closely together concentrating on seven fields that include staging joint exercises against cyber-attacks and entail a crackdown on ships smuggling refugees and migrants.  US Secretary of State John Kerry said that the US commitment to the NATO will remain unwavering despite the change of administration. NATO and the EU have 22 common members.
AWARDS
Hindi language in the top 10 most powerful languages

The World Economic Forum (WEF) has named Hindi language ranked 10th in the top 10 most powerful languages on the planet. The list features English as the most powerful language followed by Mandarin. The index applied for the consensus took into account various factors including geography, economy and diplomacy. The WEF further forecasted the list for 2050, with Hindi climbing one spot to ninth.
Shah Rukh Khan named Kids’ Ikon of the Year

Indian famous Actor Shah Rukh Khan named ‘Kids’ Ikon of the Year’ at Nickelodeon’s Kids Choice Awards. Actor Salman Khan won the Best Actor award for his film ‘Sultan’, while DeepikaPadukone was named Best Actress for historical romance film ‘BajiraoMastani’. Meanwhile, actors VarunDhawan and Alia Bhatt were named Nickelodeon ‘Kamaal Ki Jodi’ of the year.
PERSONS IN NEWS
Justice JS Khehar to be next Chief Justice of India

Supreme Court judge Justice Jagdish Singh Khehar will be the next Chief Justice of India (CJI).  His name has been recommended by Chief Justice of India TS Thakur on 6th December. Justice Jagdish Singh Khehar, who led the five-judge constitution bench in the Supreme Court, was recommended as the 44th Chief Justice of India.



SCIENCE& TECHNOLOGY
The Lifeline Express to get two more coaches for cancer treatment

The world’s first hospital train, Lifeline Express is all set to get two additional coaches for cancer treatment. The decision was announced by the Ministry of Railways on 6th December 2016.
Railway Minister Suresh Prabhu along with Health Minister JP Nadda will be inaugurating the new additions. The coaches are purely equipped for detection and control of oral, cervical and breast cancer and prevention of stroke. They will be accompanied by three fully equipped operation theatres.
ISRO launches PSLV-C36 carrying remote sensing satellite

The Indian Space Research Organisation (ISRO) has launched Polar Satellite launch Vehicle (PSLV C36) Resource Sat-2A from the SatishDhawan Space Centre in Sriharikota, Andhra Pradesh. The satellite is intended to continue the remote sensing data services to global users. The ISRO is the space agency of the Government of  India headquartered in the city of Bengaluru. Formed in 1969, Chairman is A.S.Kiran Kumar.
India, Russia to hold joint naval drills

The India-Russia Indra NAVY-2016 naval exercise will be held from 14th to 21st December. The exercise will be held in the city of Visakhapatnam and in the Bay of Bengal. The first Indian-Russian naval exercises were held in May 2003.


British and Indian Navy Exercise ‘KONKAN-2016’ begin at Mumbai

The 12 day annual bilateral maritime exercise between the Indian Navy and the Royal Navy KONKAN 16 began on December 5, 2016 at Mumbai. The exercise will be conducted in two phases at Mumbai and Goa. Phase 1: 05 – 09 Dec 16 at MumbaiIt would be a Command Planning exercise involving the two navies Phase 2:12 – 16 Dec 16 at Goa
It is a LIVE EXERCISE (LIVEX), which involves interaction between the IN Marine Commandos (MARCOs) and the Royal Marines. This exercise will provide valuable opportunity for both navies to interact and cooperate in the field of Maritime Security Operations.
OBITUARY
Noted journalist Cho Ramaswamy passes away

Political satirist and founder editor of Thuglak magazine, SrinivasaIyerRamaswamy popularly known as Cho Ramaswamy passed away due to cardiac arrest in a Chennai hospital early this morning. A former BJP RajyaSabha member Ramaswamy was ailing for some time and was in the hospital. He is survived by his wife, a son and daughter. Eighty-two year old journalist was an advisor to former Tamil Nadu Chief Minister J Jayalalitha

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