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Important Current Affairs 14th October 2017

Important Current Affairs 14th October 2017

Current Affairs 14th October 2017: NATIONAL NEWS

The first ever All India Institute of Ayurveda to be dedicated to the Nation by the Prime Minister on Ayurveda Day at New Delhi 

The First ever All India Institute of Ayurveda (AIIA), set up along the lines of AIIMS, will be dedicated to the Nation by the Prime Minister, Shri Narendra Modi on Ayurveda Day on 17th October, 2017 at New Delhi. 
●    Set up as an apex institute under the Ministry of AYUSH, the AIIA will bring synergy between the traditional wisdom of Ayurveda and modern diagnostic tools and technology. 
●    This was disclosed by the Minister of State for AYUSH, Shr Shripad Yesso Naik at a press conferences in New Delhi today. 
●    Within the short duration of its establishment, AIIA has gained a wide national and International recognition. 
●    It has started working to facilitate quality patient care, research and bridging the gaps in the scientific information about quality, safety and efficacy of Ayurveda products and developing benchmarks of Ayurvedic education, research and healthcare, the AYUSH Minister explained.
●    Shri Shripad Naik said that in the first phase, the AIIA has been set up within a total campus area of 10.015 acres with a budget of Rs.157 Crores. 

New Guiness Record at IISF Chennai 2017 

Day two of the India International Science Festival (IISF) in Anna University campus at Chennai saw the making of a new Guinness World Record for the Largest Biology Lesson. 
●    One thousand forty nine (1049) students participated in the record breaking session. 
●    While inaugurating the Largest Biology Lesson, Union Minister for Science & Technology and Earth Science, Dr. Harsh Vardhan said that it is the vision of the Prime Minister, Shri. Narendra Modi, to encourage and promote science and the Govt. of India has launched many Flagship Programmes in this regard. 
●    He also invoked C V Raman and how he has won the Nobel Prize, which is first by any Indian to do so.
●    World Record attempts have been a key part of India International Science Festival since 2015, which leads to encouragement and popularizing of Science through public participation. 
●    In IISF 2015, students took a successful shot at the Guinness World record for the world’s largest science Lesson at Indian Institute of Technology (IIT) Delhi. 


Inland Waterways Authority of India raises Rs. 660 crore through Bonds 

The Inland Waterways Authority of India (IWAI) has raised Rs. 660 crore as “GOI Fully Serviced Bonds”. 
●    The resources raised by way of bonds are in addition to the budgetary support from the Government of India. 
●    The Government had taken a decision to enable IWAI to raise Rs 660 crore through GOI Fully Serviced Bonds in 2017-18.
●    The IWAI had engaged arrangers, credit rating agencies, registrars and trustees prior to raising the Bonds. 
●    Both CRISIL and CARE rated the proposed instrument of IWAI as “AAA: STABLE”. 
●    The e-bidding for raising the bonds was organized on 11th October, 2017 on the BSE Portal with the issue size of Rs. 300 crore and Green Shoe option of Rs. 360 crore. 
●    The issue was oversubscribed and the entire amount of Rs.660 crore has been raised in single tranche at a coupon rate of 7.47 percent.

Central team of experts from various departments to investigate the outbreaks of dengue fever in Tamil Nadu


The Centre has deputed a team of experts to Tamil Nadu to investigate the outbreak of dengue in the state. 
●    The team, which includes doctors from All India Institute of Medical Sciences (AIIMS), National Vector Borne Disease Control Programme (NVBDCP), New Delhi, Lady Hardinge Medical College (LHMC) and National Centre for Disease Control (NCDC), New Delhi, will provide technical assistance to the state in dengue case management and vector control. 
●    The experts will also assess the situation and provide “necessary guidance” to manage and address the recent upsurge.
●    According to the data from the ministry of health and family welfare, this year alone, Tamil Nadu has reported 12,324 cases of dengue, and 18 deaths due to the mosquito-borne disease. 
●    The state opposition has reportedly claimed that the number is much higher than what is being reported and has been attacking the state government for not being able to control the situation.
●    Last year, only 2,531 dengue cases were reported from the state. 
●    This year, the highest number of cases have been reported from Thoothukudi (1,178), Chennai (1,138), Sankarankoil (1,072), Coimbatore (942), Thirupur (782) and Kanyakumari (777).

NCLT approves allowing Reliance Communications and Aircel to withdraw merger plans


The National Company Law Tribunal has approved the withdrawal of merger deal between Reliance Communications and Aircel, as per a regulatory filing.
●    "The National Company Law Tribunal, Mumbai Bench (NCLT) has passed orders dated October 13, 2017 approving withdrawal of the Scheme of Arrangement between the Company, Reliance Telecom Limited (RTL), Aircel Limited, Dishnet Wireless Limited, Deccan Digital Networks Private Limited, South Asia Communications Private Limited and their respective shareholders and creditors for demerger of wireless business of the Company and RTL to Aircel...," RCom said in a BSE filing today.
●    The order also approved withdrawal of demerger of tower business of Reliance Infratel to Towercom Infrastructure, the filing said.
●    RCom, which is reeling under a debt of about Rs 46,000 crore, had called off merger talks with Aircel, citing " legal and regulatory" delays and "various interventions by vested interests".
●    RCom also blamed high level of competition as one of the reasons for termination of the merger talks.
●    It was claimed that with the deal the debt of RCom will come down to around Rs 20,000 crore, while that of Aircel to around Rs 4,000 crore.

Reliance will invest Rs 70 billion every quarter in Jio


As per the latest Reliance Industries Limited (RIL) financial and operational performance report for the quarter 2, Jio's customer base has been a swift surge. The report notes that the Reliance Jio has added around 15.3 million subscribers in the last three months. 
●    However, instead of adding millions of customers to Jio, the company - as pet the RIL financial and operational performance report has gone through a loss of Rs. 271 crores. 
●    Even after the experiencing loss, Reliance says that the company's financial performance is 'strong'.
●    By adding about 15.3 million users, Jio grew its customer base to 136.8 million in three months. 
●    RIL also posted that the company - Jio has seen a total wireless traffic of 374 crore gigabytes (3.74 billion GB) in Q2, which ended on Sept 30. 
●    It also says that Jio is touting the highest per capita data consumption of 9.62GB per user per month.


IndusInd Bank to acquire Bharat Financial, will complete deal in 10 months


IndusInd Bank on Saturday announced merger with microfinance lender Bhart Financial Inclusion (BFIL). 
●    The deal is subject to approvals from the Reserve Bank of India, market regulator Securities and Exchange Board of India and Competition Commission of India among others.
●    According to the deal, Bharat Financial shareholders will get 639 shares of the bank for every 1,000 held. The deal is likely to be completed in 9-10 months.
●    The deal comes nearly a month after IndusInd informed the stock exchange that they have entered into exclusive merger talks with Bharat Financial.
●    The composite scheme, which will be effective from January 1, is between IndusInd, BFIL and a wholly owned subsidiary of the bank.
●    The scheme will explore amalgamation of the bank with BFIL without winding up the latter company, IndusInd said in a filing with the stock exchange.

Current Affairs 14th October 2017: GLOBAL NEWS

Trump administration refuses to cooperate with Vibank's capital base hike


The Trump administration has rejected a capital increase by the World Bank, which the Bank says is necessary to expand its global anti-poverty mission.
●    Treasury Secretary Steven Mnuchin said the huge Washington-based institution is inefficient and can be more effective in the nearly $60 billion in development finance it currently allocates each year.
●    Through greater efficiency, the bank can internally build its capital base and expand lending without the need for more contributions from its 189 shareholder nations -- of which the United States is the largest.
●    He also said, in a statement to the Development Committee, which sets the action program for the bank and the International Monetary Fund, that the Bank needs to cut funding for emerging economies that don't need significant outside assistance.
 

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Important Current Affairs 5th October 2017

Important Current Affairs 5th October 2017

Current Affairs 5th October 2017: NATIONAL NEWS

IBBI notifies the IBBI (Information Utilities) (Amendment) Regulations, 2017 

IBBI had notified the IBBI (Information Utilities) Regulations, 2017 on 31st March, 2017. 
●    These regulations provided that ordinarily a person should not hold more than 10% of paid up equity share capital or voting power of an information utility, while allowing certain specified persons to hold up to 25%. 
●    These further provided that a person may hold up to 51% of paid-up equity share capital or total voting power of an information utility till the expiry of three years from its registration.
●    IBBI has amended the IBBI (Information Utilities) Regulations, 2017 on 29th September, 2017. 
●    According to the amended regulations, a person may, directly or indirectly, either by itself or together with persons acting in concert, hold up to fifty-one percent of the paid-up equity share capital or total voting power of an information utility up to three years from the date of its registration. 
●    Further, an Indian company, (i) which is listed on a Stock Exchange in India, or (ii) where no individual, directly or indirectly, either by himself or together with persons acting in concert, holds more than ten percent of the paid-up equity share capital, may hold up to hundred percent of the paid-up equity share capital or total voting power of an information utility up to three years from the date of its registration. 
●    However, these amended provisions are be available in respect of information utilities registered before 30th September, 2018.


“Pradhanmantri Mudra Yojna” promotion camp in Hyderabad 

Union Minority Affairs Minister Shri Mukhtar Abbas Naqvi today said here that under the “Mudra Yojna”, launched on 08th April 2015, the Centre has approved about 9.13 crore loans. 
●    Addressing the common people, traders, industries’ representatives and people from social sector in Hyderabad during “Pradhanmantri Mudra Yojna” promotion camp, Shri Naqvi said that there are about 76 percent women in these beneficiaries of “Mudra Yojna”. 
●    More than 55 percent of the beneficiaries are SC/ST/OBCs and Minorities.
●    Shri Naqvi said that today each and every country of the world has recognising India as an emerging economic power. 
●    Today, India has become one of the safest and strongest destination for investment. 
●    Shri Naqvi said that during the last three years, the NDA Government has moved forward towards strengthening the Indian economy. 
●    Growth rate has been above 7 percent during the last three years.
●    Shri Naqvi said that “Demonetisation” has started giving results. 
●    Direct Benefit Transfer has ensured transparency, as money has been given directly into the bank accounts of needy.


Plantation drive along National Highways 

National Highways Authority of India (NHAI) has so far planted about 10 lakh plants along national highways in this monsoon season. 
●    This includes about 4 lakh avenue plants and about 6 lakh plants on the highway medians. 
●    The plantation drive is part of NHAI’s activity towards ensuring and upholding the cause of Swachh Bharat Mission in providing clean, green and pollution free National Highways. 
●    The drive is taken up as a regular activity during monsoons and continues even afterwards with watering and maintenance of the plants. 
●    Plantation work has been mainstreamed as an integral part of highway development projects, thereby ensuring that our highways remain clean, green and pollution free.


 Paryatan Parv started

Ministry of Tourism has launched the ParyatanParv ”  celebrations country wide today.
●    ‘Paryatan Parv’ activities began with the flagging of the cycle rally by Smt. Rashmi Verma, Secretary, Ministry of Tourism from India Gate, New Delhi to Qutab Minar. 
●    Approximately 80 cyclists from across Delhi including members of tourism Industry Stakeholders, officials from central Ministries, doctors, teachers, students participated this rally.
●    The other activities in the capital included a Guided Heritage Walk at  Humayun’s Tomb & painting competition for children etc.
●    Tourism awareness Walk & Run were organised in Shillong , Bhubaneswar , Kovalam (Kerala), Hajipur (Bihar), Gurudaspur, Chennai, Guwahati, Mumbai, Ahmedabad , Jaipur, Imphal, Lucknow, Agra, Hyderabad , Gwalior, Bhopal, Panaji(Goa), Delhi.
●    100’s of student from Institute of Hotel Management in the said cities & local stakeholders enthusiastically participated in the Tourism walk & Run.  
●    The various State Tourism Departments also joined the celebrations by organising various events like trekking programme, photography contest, essay competitions, sensitization program etc.
●    In Guwahati, the students took to rowing in the Brahmaputra river   spreading the message of Paryatan Parv.

Apple and Reliance entering into deep local partnership


Apple and Reliance Industries, the most valuable companies in the US and India, are entering into a “deep” local partnership that will harness the conglomerate’s telecom and retailing networks to help the iconic American phone maker "discover Bharat" and take the brand to 900 cities and towns. 
●    The exercise also seeks to establish Reliance as the largest seller of iPhones in the country. 
●    As part of the arrangement that may eventually help iPhones reach more than 2,000 points of sale through Reliance Digital and Reliance Jio, Reliance is now undertaking the distribution itself.
●    Earlier, distributors would reach out to Reliance Digital stores. “Apple wants to expand rapidly in the smaller cities and towns to sell iPhones where Reliance has a ready infrastructure through its retail and telecom businesses. 
●    Apple’s retail presence will immediately double to over 4,000 outlets through this.
●    Reliance, too, wants to sell phones from Rs 999 to $999.


Mukesh Ambani is richest Indian for the 10th consecutive year


Mukesh Ambani for the tenth consecutive year. 
●    The elder Ambani brother, Chairman of Reliance Industries Limited, has seen a very successful year. 
●    One factor contributing to his recent earnings is the massive success of Reliance Jio since its launch in 2016. 
●    Mukesh Ambani tops the list with a staggering Rs 2.47 lakh crore or $38 billion in net worth, a  nd is also one of the top five richest people in Asia. 
●    However, his younger brother, Anil Ambani , is way down the list on the 45th spot with $3.15 billion. 
●    The magazine mentioned that Mukesh Ambani saw his wealth increase by 67 per cent from last year. 
●    In fact there was an increase of 26 per cent in the aggregate wealth of the top 100 richest people. 
●    Forbes also mentions that all of the rank holders in the list are billionaires this year. 
●    The minimum worth to make to the list last year was $1.25 billion, which shot up by 17 per cent this year.

Mastercard, AP sign pact to create digital ecosystem in state

Global payments technology major Mastercard and the Andhra Pradesh government today signed a pact to create a "digital ecosystem" in the state.
●    It focuses on implementing a 4-pronged agenda for the state.
●    Signed by Andhra Pradesh Chief Minister Chandrababu Naidu and Mastercard President & CEO Ajay Banga, the pact will see implementation of innovative payment technologies that will help the state move towards a cashless society as also to elevate its foothold as a smart city.
●    Mastercard, through a mobile app, will help create a marketplace solution for farmers to buy and sell crops in a safer and simpler way besides being able to get access to credit and transparent pricing.
●    "The first one is to really work hard in enabling farmers to find access to the new ways to be able to get their produce to markets and connect to buyers and get paid for it in the form that does not allow middleman to get between them and take away what is theirs," Banga told reporters at the MoU signing.

Current Affairs 5th October 2017: INTERNATIONAL RELATION

India signs €300 million Finance Contract with European Investment Bank (EIB) for financing Bangalore Metro Rail Project Phase II- Line R6. 

Government of India and European Investment Bank (EIB) today signed the Finance Contract for lending of € 300 million for Bangalore Metro Rail Project Phase II Line R6. 
●    The agreement was signed by Shri S. Selvakumar, Joint Secretary (BC), Department of Economic Affairs (DEA), Ministry of Finance on behalf of the Government of India and Mr. Andrew McDowell, Vice President, EIB, on behalf of the EIB.
●    Bangalore Metro Rail Project Phase II is to be jointly financed by the European Investment Bank (€500 million) and Asian Infrastructure Investment Bank (€300 million). 
●    The first tranche of Euro 300mn was signed today. 
●    The project envisages extension of East-West & North-South lines for Bangalore Metro Rail which includes a total length of 72.095 km (13.79 km underground) and 61 stations with 12 underground stations. 
●    The project implementation period is 5 years from date of commencement of the Project.
●    The objective of the project is to bring in a quantum improvement in the transportation sector in the city in tandem with the Bangalore Metropolitan Transport Corporation (BMTC) and other modes of urban transport. 
●    The project aims to ensure modern transport facility for the commuters. 

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