Daily Current Affairs Updates–8th 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.
i. The Centre has decided to open Pradhan Mantri Kaushal Vikas Kendra in every Parliamentary Constituency to impart skill training to the people and make them employable Minister of Skill Development and Entrepreneurship Rajiv Pratap Rudy said, through these centres, a standard will be created to enhance the skill level of trainees so that they could earn more money.
ii. Mr. Rudy said to check placements of people through fake certificates or by touts, an International Placement Centre under PradhanMantriKaushalVikasYojana has been set up ,The Minister said, the government is also setting up Driver Training Institute in every district of the country to impart driving skills of high standard. He also said that the government has set a target of providing skill training to one crore people in the next three years.
The Union Minister of Health and Family Welfare J P Nadda in the first week of November 2016 launched Pradhan Mantri Surakshit Matritva Abhiyan (PMSMA) in New Delhi. The scheme aims at providing pregnant women ante-natal services and required treatment for free at government health centres and hospitals on 9th of every month. The scheme had also found its mention in the Prime Minister NarendraModi’s monthly radio address Mann Ki Baat in June 2016.
Key objectives of the scheme
• To provide healthy life to pregnant women
• To lower the maternity mortality rate
• To make pregnant women aware of their health issues and diseases
• To ensure safe delivery and healthy life of the baby
i. Jammu and Kashmir government has launched the All Terrain Bike programme for meritorious students of the lower economic strata. Provided at 90% subsidy, the cycles would be given to any Class X student belonging to lower economic background, who has to cover over 2 km to reach his school. The student should also score above 65% in his 10th exams.
Rajasthan will soon have a ‘Chief Minister’s Cow Welfare Fund’, the state Home Minister GulabKataria announced on Monday. The initiative will be funded by introducing 10% surcharge on mandi tax, by reserving 5% of corporate social responsibility funds and levying 5% surcharge on temple trusts. Besides, government employees will be “requested” to donate ₹1-3 daily, for the welfare fund.
Uttarakhand High Court has ordered all hill stations and glaciers in the state to be declared as eco-sensitive within three months and put a ban on all construction within 25 km radius of the glaciers. A Division Bench of the High Court comprising Justice Rajeev Sharma and Justice Alok Singh also said there should be restriction on the number of people visiting the glaciers besides imposition of a tax on them.
i. Karnataka Chief Minister Siddaramaiah has invited UK to forge partnership in the creation of smart cities. During an interaction with UK Prime Minister Theresa May in Bengaluru today, he said, the strength of UK research and innovation and the implementation capabilities of the State of Karnataka together can help forge a unique partnership in the days to come.
ii. The UK Prime Minister was also requested to speed up UK health City Project in Dharwad. On the need to review the new Visa policy of UK, MrSiddaramaiah pointed out that the movement of skilled tech workers from India should be seen as a trade priority rather than as immigration issue.
The Indian army has successfully completed its task of laying an irrigation pipeline in the Demchok region of Eastern Ladakh. The project was being conducted under the Mahatma Gandhi National Rural Employment Guarantee Scheme to link the villages in the region with a hot spring.
i. Ten UK-based companies have pledged to invest 29.29 million pound to train about 20 lakh people in India by 2020. UK India Business Council said in a statement in New Delhi yesterday that 10 UK companies have committed to support India’s Make in India and Skill India initiatives by enhancing skills to global standards and giving the trainees greater employment opportunities in India and at a global level.
ii. These companies are among the largest investors in India. The firms include HSBC, Vodafone, Reckitt Benckiser, Rolls Royce, OCS, Mott Macdonald, G4S, Aviva, Marks& Spencer and GSK. The areas of skills being covered are apprenticeships, career development, technical, soft and leadership training, and the all-important certification support.
i. Maharashtra government has issued a Circular in accordance with the guidelines by deputy director (lands), Ministry of Defence for relaxing the ban on construction activity around defence lands in state. The Chief Minister DevendraFadnavis said in a tweet. He further tweeted that the circular has now reduced the restricted zone to just 10 metres from defence establishments and installations.
ii. This is a huge relief to people living in dilapidated buildings around central ordinance depots like in Jalgaon, Pune, Kolhapur, Mumbai, Nagpur and Aurangabad. The move is mainly aimed at removing hurdles in redevelopment of homes situated in the vicinity of defence
India is planning to sell as much as 5,000 crore of offshore rupee bonds or masala bonds in London and Singapore to accelerate the construction of roads and ports. Transport Minister NitinGadkari said National Highways Authority of India will raise the funds. The sale will be the largest such issue by a state-run body since NTPC’s transaction in August.
UN climate change conference begins debates on rules to implement Paris Agreement
i. The UN climate change conference, COP 22, has begun debates on rules to implement the Paris Agreement. The landmark climate accord came into force last week. Delegates from more than 190 countries and territories are attending the 12-day meeting that kicked off yesterday in Marrakech, Morocco.
ii. Moroccan foreign minister SalaheddineMezouar, who chairs the summit, said the Paris Agreement mobilized the international community and the Marrakech meeting must build on this momentum.The delegates will also discuss ways to assess countries’ emission targets, as well as financial assistance for developing nations. Signatories to the Paris Agreement will hold their first meeting, known as CMA1, during the UN conference.
i. Japan today ratified the 2015 Paris Climate Change Agreement to decrease emissions and prevent climate change, four days after the global pact officially entered into effect. The agreement seeks to wean the world economy off fossil fuels in the second half of the century, limiting the rise in average world temperatures to well below 2.0 degrees Celsius above pre industrial times.
ii. The delay in ratification could limit Japan’s ability to influence negotiations on the minor details of the agreement. Those talks were set to formally begin during the COP-22 meeting in Morocco that started yesterday.
The Central government and Asian Development Bank, ADB signed a 48 million US dollar loan to help Assam state continue its drive to improve access to efficient and reliable power in the national capital. This is the second tranche loan of the 300 million US dollar multi tranche financing facility for the Assam Power Sector Investment Program that was approved by the ADB Board in July 2014. The project will help Assam to enhance capacity and efficiency of its power distribution system to improve electricity service to end users.
State Bank of India (SBI) plans to raise Rs 5,000 crore through long-term bonds in domestic and overseas markets to finance infrastructure and affordable housing in the current fiscal year. “A meeting of executive committee of the central board of the bank is scheduled to be held on November 10, 2016, inter alia, to examine and decide for issuance of long-term bonds of Rs 5,000 crore in domestic and overseas markets for financing of infrastructure and affordable housing (Infra Bonds) during financial year 2017 on private placement in tranches at appropriate time,” SBI said in a filing to the BSE.
The RBI has issued clarifications on hedging of currency for External Commercial Borrowings (ECB). The ECB borrower will be required to cover both principal as well as coupon payments through the hedges done, starting from the day of borrowing, the notification said. The hedging period will be for the entire life of the liability with a minimum one-year rollover option.
i. Four rupee-denominated bonds worth a total of 600 million pounds ($748 million) are expected to be listed in London in the next three months, the British government said on Monday, as Prime Minister Theresa May began a two-day visit to India. The latest four bonds will provide financing to expand India’s highway and rail networks and meet its plans to boost energy efficiency and renewable energy, the government said.
ii. They will be issued by Indian government-backed corporates Indian Railway Finance Corporation, Indian Renewable Energy Development Agency, Energy Efficiency Services Limited, and National Highways Authority of India by the end of January 2017.
RBI issues Clarifications on Hedging for External Commercial Borrowings
iii. The Reserve Bank of India (RBI) on 7 November 2016 issued the Clarifications on hedging for External Commercial Borrowings (ECB).The Clarifications were issued under section 10(4) and 11(1) of the Foreign Exchange Management Act, 1999.
Highlights of the Clarifications
· Wherever hedging is mandated by RBI, the ECB borrower will be required to cover principal as well as coupon through financial hedges. The financial hedge for all exposures on account of ECB should start from the time of each such exposure.
· A minimum tenor of one year of financial hedge will be required with periodic rollover duly ensuring that the exposure on account of ECB is not unhedged at any point during the currency of ECB.
· Natural hedge, in lieu of financial hedge, will be considered only to the extent of offsetting projected cash flows in matching currency, net of all other projected outflows. For this purpose, an ECB may be considered naturally hedged if the offsetting exposure has the maturity within same accounting year.
· The designated bank will have the responsibility of verifying that 100 percent hedging requirement is complied with. All other aspects of the ECB policy shall remain unchanged.
The National Stock Exchange has hired four additional investment banks for its initial public offering and is likely to file its share-sale documents with the regulator SEBI by December-end, reports said. IDFC Bank, ICICI Securities, IIFL Holdings, and HDFC Bank have been reportedly appointed to the syndicate, for which the bourse had earlier hired four other banks.
India& Canada to work together on different research& development fields
India and Canada will work together on different research and development fields. Announcing this at a joint press meet in New Delhi, Science and Technology minister Harsh Vardhan said, both the countries are working on agriculture research, industrial research and in bio-technology fields. MrVardhan also informed that both the countries are planning to host a technology summit next year. Canadian Minister of Innovation and Science NavdeepBains was also present on the occasion.
i. India and the United Kingdom have signed two pacts to boost cordial relations between the two nations. The pacts were inked during the 3 days visit of Theresa May, the Prime Minister of the United Kingdom to India. PM Theresa May was on a three Day visit to India. one on intellectual property (IP) and another for bilateral cooperation on raising ease of doing business.
BJP Vice President AvinashRaiKhanna is all set to be appointed as a member of National Human Rights Commission by a high-level selection panel headed by Prime Minister NarendraModi clearing his name. He will be the first active politician to be appointed as a member of NHRC.
i. VinodRai was on 7 November 2016 appointed as the Chairman of Fund Trustee and Advisory Commission of Kerala. He will be entrusted with the responsibility to ensure that the funds of the Kerala Infrastructure Investment Fund Board (KIIFB) are properly utilised and the interest of investors is protected.
ii. Moreover, the board of the reconstituted KIIFB under Chairman Pinarayi Vijayan also decided to appoint Usha Thorat, former Deputy Governor of RBI and Prakash Bakshi, former Chairman of NABARD, as the other members of the FTAC. The FTAC will have a two-year term and the members cannot be removed either by the government or the KIIFB. They will be removed from the FTAC if they are convicted for misbehaviour and corruption.
Bank of Baroda (BoB) on 7 November 2016 appointed Ratnesh Kumar as Managing Director (MD) and Chief Executive Officer (CEO) of its wholly-owned investment banking subsidiary, BoB Capital Markets Ltd. The public sector bank stated that Kumar started his career in the Indian capital markets and financial services sector in 1993.
Madhya Pradesh government’s prestigious Rashtriya Kalidas Samman will be given to eminent theatre artists Raj Bisaria and Banshi Kaul. Mr. Bisaria will receive the award for 2015-16 while Mr. Kaul will be given the award for 2016-17. Both the theatre artists are known for long cherished practice, excellence and continuous creative activeness in the country. Governor OmprakashKohli will present the awards at an award ceremony to be held on 10th of this month in Ujjain. Two lakh rupees and a citation will be presented as award.
The 39th Jamnalal Bajaj Foundation Awards for the year 2016 were conferred on 7 November 2016 in Mumbai, Maharashtra. Well-known Gandhian and President of Tunisia’s Ennahdha Party, Sheikh RachedGhannouchi was among the four prominent personalities conferred with the prestigious award.
Indian-origin cab driver Tejinder Pal Singh will be presented with an award in the ‘2017 Local-Hero’ category as part of ‘Australian of the Year Award’ on January 25, 2017, for contributing to the community through his initiative ‘Food Van’. Singh distributes around 80 kilograms of food every month, funded from his own money, to the needy through his ‘Food Van’
‘Beach-sleeping baskets’ were named the ‘Best Touristic Innovation’ at the recently-concluded German Tourism Awards. The 2.40-metre-wide and 1.30-metre-high baskets, believed to be the first of their kind in the world, include bedding and pillows and can accommodate two people. Known as Schlafstrandkörbe, they were reportedly used along the Baltic Coast of Germany over the summer.
Real Madrid forward Cristiano Ronaldo has won Marca’s Alfredo di Stefano award for the best player in the La Liga for the 2015-2016 season. Ronaldo scored 35 goals and provided 11 assists during the last season. Meanwhile, Atlético Madrid boss Diego Simeone won the best manager and goalkeeper Jan Oblak received the Zamora trophy for conceding the fewest goals.
Indian Naval Ship Shardul has arrived at Port Louis on a three day visit. INS Shardul, an amphibious ship of the Indian Navy, is currently on a month long deployment in the Southern Indian Ocean in keeping with the vision of SAGAR – Security and Growth for All in the Region.
i. u team has bagged an impressive five medals, including four silver and one bronze, in the eighth Sanda World Cup held at Xian, China. The event witnessed participation from 80 best Sanda players of 13th World Wushu Championship 2015. India were represented by five players.
ii. Arjuna Awardee and world silver medalist Y Sanathoi Devi won the silver for India in 52kg category after losing to China’s Luan Zhang . he other silver medallist for India were Uchit Sharma in the 52kg, SurayaBhanuPratap Singh in 60kg and Monika in 56kg categories. PoojaKadian in 75kg category secured the lone bronze medal.
Vice President of India, M. Hamid Ansari released book ‘An Era of Darkness: The British Empire in India’ authored by Dr. ShashiTharoor. Vice President said that the author rightly points out that British rule in India was effectively and regularly supplemented by “famine, forced migration and brutality” – the ‘three examples of why British rule over India was despotic and anything but enlightened’.
Delhi’s Rishabh Pant scored the fastest century in first-class cricket by an Indian, reaching 100 in 48 balls against Jharkhand in the Ranji Trophy on Tuesday. The 19-year old’s knock surpassed NamanOjha’s 100(69) scored in January 2015. Australia’s David Hookes holds the record for the fastest first-class century, scoring 102(34) in a Sheffield Shield match in 1982.
i. KanuRamdas Gandhi, grandson of Mahatma Gandhi and a former NASA scientist, passed away in Surat, Gujarat yesterday evening. He was 87. Ailing since the past few weeks, Kanu Gandhi was admitted to a private hospital in Surat after he suffered a heart attack and brain haemorrhage which had left him paralysed.
ii. Kanu Gandhi returned to India in 2014 after a four-decade long stay in the US, where he had worked with NASA for 25 years. He is survived by his wife Shivalaxmi who was a professor and researcher in Boston Biomedical Research Institute. President Pranab Mukherjee and Prime Minister NarendraModi have condoled the death of Kanu Gandhi.
Janet Reno, the first woman to serve as U.S. Attorney General, passed away on 7 November 2016 at Miami, Florida. She was 78. As the U.S. Attorney General, Reno played key roles in some of the most acrimonious events of the Bill Clinton administration.
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