Current Affairs Weekly PDF
Current Affairs Weekly PDF – August First Week (1-7)
INDIAN AFFAIRS
• On July 31, 2107, Constitution 123rd Amendment Bill, 2017 for setting up of a National Commission for Backward Classes was passed by Rajya Sabha after dropping an important clause.
• A campaign to protect children from major childhood diseases like measles, mumps and rubella has been started in Kangra district of Himachal Pradesh from August 1, 2017. The campaign has been initiated by Dharamshala Municipal Corporation Mayor Rajni Vyas.
• The Supreme Court has imposed a ban on the use of five harmful heavy metals like lithium, antimony, mercury, arsenic and lead in the manufacturing of firecrackers as they cause air and noise pollution.
• The Prime Minister, Narendra Modi has announced a package of Rs 2350 crore for relief, rehabilitation and building flood mitigation infrastructure in the flood-affectedNorth-Eastern states including Assam on
1st August 2017.
• The Union Government has proposed to establish an additional 14 new AIIMS (All India Institute of Medical Science) in a phased manner in different States under Pradhan MantriSwasthya Suraksha Yojana (PMSSY).
• The Ministry of Electronics and Information Technology (MeitY) has appointed an expert panel committee that would study various issues relating to data protection in the country and will suggest a draft data protection Bill. It is a 10 member panel and it is headed by Supreme court Judge (retired) Justice B N Srikrishna.
• On August 2, 2017, Lok Sabha passed two bills, CGST (Extension to Jammu and Kashmir) Bill, 2017 and IGST (Extension to Jammu and Kashmir) Bill, 2017, extending Central Goods and Services Tax (GST) and Integrated Goods and Services Tax (GST) to Jammu and Kashmir (J&K).
• In an attempt to promote innovation and entrepreneurship in agriculture, Government launched “AGRI UDAAN”- Food and Agribusiness Accelerator 2.0 programme in New Delhi on August 4, 2017. The program will be run by ICAR-NAARM Technology Business Incubator (TBI), a-IDEA and Indian Institute of Management Ahmadabad’s Center for Innovation, Incubation and Entrepreneurship (CIIE).
• The Bihar Government has informed that it has decided to compulsory retirement to the non-performing teachers, head masters and education department officials above the age of 50 years announced on 3rd of August 2017.The committee is headed by RK Mahajan.
• On 3rd August 2017, Minister of State in the Ministry of Civil Aviation Shri Jayant Sinhainformed that the Indian Government is encouraging to develop green airports, Airports Authority of India ( AAI )has inaugurated installation of 1MWp solar power plant at Tirupathi and Vijaywada Airports.
• The state government of Assam has decided to distribute 13 lakh Soil Health Cards among farmers.
• The Yogi Adityanath cabinet in Uttar Pradesh has approved a proposal to rename the Mughalsarai railway station near Varanasi after the Jan Sangh leader who died in 1968.
The centre has approved a proposal to rename the Mughalsarai railway station in Uttar Pradesh after RSS ideologue DeenDayalUpadhyaya.
• Union Home Ministry passed an order to merge the three-decade old National Crime Records Bureau (NCRB) with Bureau of Police Research and Development (BPRD).
• Sports utility vehicles (SUVs) and luxury cars, which became cheaper after the rollout of the goods and services tax (GST) from July 1, 2017, may now cost more as the GST Council, has decided to raise cess on them from 15% now to up to 25%.
PLACES IN NEWS
• India’s First Heli-taxi service launched by MoS for Civil Aviation Jayanth Sinha in Bengaluru. Kempegowda International Airport (KIA) is the first airport and Bengaluru is the first city in the country with such a service.
• Union Agriculture Ministry signed a memorandum of association (MoA) for setting up a regional centre of the International Rice Research Institute (IRRI) in Varanasi, Uttar Pradesh to develop high- yielding rice varieties.
• AadiPerukku is celebrated for the birth of the Tamil month of Aadi. This is the beginning of all the festivals during the festival seasons. It is celebrated in a special way in temples like MangaduKamakshi Temple.
• On August 3, 2017, India’s first private sector missile sub-systems manufacturing facility, a joint venture between the $2.5 billion Kalyani Group and Israel’s Rafael Advanced Defence Systems Ltd., was inaugurated near Hyderabad, Telangana.
INTERNATIONAL AFFAIRS
• World Bank has said that India is allowed to construct hydroelectric power facilities on tributaries of the Jhelum and Chenab rivers with certain restrictions under the 1960 Indus Waters Treaty (IWT). World Bank’s comments came as officials from India and Pakistan concluded the secretary-level talks over the IWT.
• The United States has issued a ban prohibiting its citizens traveling to North Korea. The ban which comes into effect from 1st of September. The new ban will remain in effect for one year, unless it is revoked sooner by US Secretary of State Rex Tillerson.
• A new representative body US- India Strategic Partnership Forum (USISPF) is being set up to enhance business relations between India and US.
• Qatar’s Cabinet approved a draft law making permanent residency available to some non-citizens of the country announced on 3rd of August 2017. Under the new law, Residency permits will be granted to children of Qatari women married to foreigners.
• On August 2nd 2017,The United Nations Security Council (UNSC) has adopted a resolution to preventing terrorists from acquired weapons, particularly small arms and light weapons.
• The Minister for Road Transport & Highways and Shipping Shri Nitin Gadkari has said that the government is keen on developing Chabahar Port in Iran and is hopeful of starting operations by 2018. The Indian Government has allocated Rs 6 billion for the development of the port.
SUMMITS & CONFERENCES
• 19th round of the Regional Comprehensive Economic Partnership (RCEP) Trade Negotiating Committee (TNC) meetings and other related meetings were held from 17th to 28th July 2017 in Hyderabad, India.
• The first meeting of the Japan-India Coordination Forum (JICF) for Development of North-Eastern Region was held in New Delhi on 4th of August 2017.
• On 1st and 2nd August 2017, Union Commerce Minister NirmalaSitharaman attended BRICS Trade Ministers meeting in Shanghai, China. On the sidelines of this meeting she also held meeting with Chinese Minister of Commerce Zhong Shan.
• Southeast Asian foreign ministers and their counterparts from the U.S., China, Russia, Japan, the two Koreas and other have arrived to the 50th Association of Southeast Asian Nations (ASEAN) Regional Forum (ARF) meeting in Manila on Aug 5, 2017.
RANKINGS & REPORTS
• As per ‘ICT Facts and Figures 2017’, released by the International Telecommunication Union (ITU), the United Nations specialised agency for Information and Communication Technologies (ICTs), India and China are home to 39% of the 830 million young people worldwide who use the Internet.
BANKING & FINANCE
Reserve Bank announces its third bi-monthly policy review of current fiscal
Policy Repo Rate / 6.00% / Reduced by 25 basis points. Earlier it was 6.25%Reverse Repo Rate / 5.75% / Reduced by 25 basis points. Earlier it was 6.00%
Marginal Standing Facility Rate / 6.25% / Reduced by 25 basis points. Earlier it was 6.50%
Bank Rate / 6.25% / Reduced by 25 basis points. Earlier it was 6.50%
Cash Reserve Ratio (CRR) / 4.00% / Unchanged – since 9th February 2013
Statutory Liquidity Ratio (SLR) / 20.00% / Unchanged – since 7th June 2017
• As per a report by global financial services major UBS, Indian government is on track to achieving the fiscal deficit target of 3.2% of Gross Domestic Product (GDP) in the current fiscal year.
• Airtel Payments Bank; India’s first payments bank has announced a strategic partnership with Hindustan Petroleum Corporation Limited (HPCL) on 1st of August 2017.
Under which 14,000 HPCL fuel stations will act as banking points for Airtel Payments Bank.
• SEBI has set up a committee on fair market conduct on 2nd of August 2017. It will suggest measures for improving surveillance of the markets and strengthen rules for algo trades, among other norms. The panel is headed by former law secretary T K Viswanathan.
• The State Bank of India (SBI) and Samsung India has announced the availability of Samsung Pay for higher variants of SBI debit card to advance Digital India initiativeon 1st of August 2017.
• As per Japanese financial services firm Nomura, India along with ASEAN – 5 countries (Indonesia, Malaysia, Thailand, Philippines and Vietnam) is more attractive Foreign Direct Investment (FDI) destination as compared to other emerging markets. Nomura has dubbed as “Asia’s tiger cubs”and has said that Foreign Direct Investment (FDI) flows to these nations are expected to surge to around USD 240 billion by 2025.
• State Bank of India plans to raise Rs 2,000 crore by allotting Basel-III compliant bonds to various investors.
• India signs loan agreement with AIIB for Financing of US$ 329 million for Gujarat Rural Roads Project.
• On August 4, 2017, Finance Minister ArunJaitley launched a new Exchange Traded Fund (ETF) under the name Bharat 22, comprising shares of 22 companies from 6 sectors of the economy. The ETF will feature four banking stocks — SBI, Axis Bank, Bank of Baroda and Indian Bank — other than CPSEs such as Nalco, ONGC, IOC, BPCL and Coal India.
• Canara Bank has hit the international debt market with a benchmark dollar bond issue that will have a tenor of 5 years. Through this issue, Canara Bank will raise $400 million as part of its $2 billion medium-term note programme. Bond sale will be drawn through London branch of Canara Bank.The bonds will be listed on
the Singapore Stock Exchange.
• Kotak Mahindra Bank has launched a new service called “Kotak Remit”.This service is an Aadhaar-based integrated outward forex remittance solution for both customers and non-customers.
• The Securities and Exchange Board of India (SEBI) has directed to companies which fail to disclose any default on the payment of interest or repayment of principal to banks or financial institutions within a day.
• During the week to July 28, the RBI showed data which refers the country’s foreign exchange reserves surged by $1.536 billion to touch $392.867 billion, helped by rising in foreign currency assets (FCAs). In the previous week, it had increased by $2.27 billion to $391.33 billion.
• In a bid to emerge as a top consumer finance brand in the digital space, mobile wallet major MobiKwik has entered into a strategic partnership with Bajaj Finance to transform itself into a financial services app from a payments app at present.
• Mastercard and PayPal have announced an extension of their partnership into Asia Pacific for making MasterCard a clear payment option within PayPal.
• PNB customers will have to pay charges for depositing cash above Rs 5,000 in a non-base branch even if it is located in the same city. A customer will have to pay Re 1 per Rs 1,000 for above Rs 5,000 cash deposit or part thereof with a minimum of Rs 25 per transaction.
BUSINESS
• The new bilateral Agreement on Trade Commerce and Transit between India and Bhutan came into force on 29th July 2017. The agreement was last renewed on 29th July 2006 for ten years.
• Yoga Guru Baba Ramdev-led Herbal products manufacturer PatanjaliAyurved plans to team up with social media site Facebook and search engine Google in a push to increase its digital presence for better online marketing.
• On August 4, 2017, Indian Railways signed its first Engineering, Procurement and Construction (EPC) contract with L&T for large electrification projects. Including this contract, Railways Ministry has signed total nine EPC contracts for electrification of railway lines at a cost of Rs. 2,800 crore.
• Essar Ports has signed a 30-year concession agreement with the Government of Mozambique to develop a 20 million tons per annum (MTPA) coal terminal at Beira Portas part of a Public Private Partnership (PPP) project.
• Mauritius government-led Metro Express Limited has given an order to Larsen & Toubro (L&T) to design and build an Integrated Light Rail-based Urban Transit System in the African island nation with an estimate cost of Rs. 3,375-crore.
• Government revises the base year of All-India Wholesale Price Index (WPI) from 2004-05 to 2011-12.The new series has 697 items as compared to 676 items in old series.
• Indian government has formulated National Trade Facilitation Action Plan (2017-20), a detailed action plan with timelines for smooth implementation of WTO’s Trade Facilitation Agreement (TFA). Recommendations made by four working groups on legislative changes, time release study, outreach programme and infrastructure augmentation have been included in this plan.
• India’s leading FMCG Britannia Industries would set up its largest plant in Maharashtra in a food park at Ranjangaon announced on 7th August 2017.
AWARDS & RECOGNITIONS
• Reliance Industries Chairman MukeshAmbani has become Asia’s 2nd richest personannounced on 1st of August 2017.Ambani Net worth is $35.2 billion.LiKa-shing is the richest man in Hong Kong with a business empire that ranges from telecommunications to retail and port.
• Former India hockey captain Dhanraj Pillay was honoured with the ‘Bharat Gaurav’ by East Bengal Football Club on its foundation day on 1st August 2017.
• JK Rowling, the creator of Harry Potter tops the ranking of the highest paid author by Forbes with earnings of £72m ($95) this year announced on 4th of May 2017.
• Veteran actress and national award winner Sharada has been selected for this year’s PremNazir. The award will be presented to Sharada by Kerala state DevaswomMinisterKadakampallySurendran at a function at Chirayankeezhu on August 15, 2017.
• Firoz Merchant, an Indian businessman in the United Arab Emirates (UAE), who has spent over USD 4 million to help free prisoners languishing in jails due to non-payment of debts, has been honoured with UAE’s prestigious Community Service Medal.
APPOINTMENTS & RESIGNSAppointee / Designation- Organisation
Venkaiah Naidu / 13th Vice-President of India
Sameer Garde / Cisco president for India, Saarc region
Arvind Panagariya (resigns) / NITI Aayog Vice Chairman
Lt.Gen. Abhay Krishna / Eastern Naval Command chief
DhirendraSwarup / BSE chairman
Christopher Wray / Chief of FBI USA
Sanjay Baru / Secretary General of FICCI
Peter O’Neill (Re-Elected) / Prime Minister of Papua New Guinea
Hassan Rouhani / Iran’s president for a second term
Rahul Dravid / Brand ambassador of InCred (financial services group)
Harmanpreet Kaur / DSP by Punjab Government
Ushanath Banerjee / AIFF-chairman of Transfers Dispute Committee
Air Marshal Hemant Narayan Bhagwat / Air Officer-in-charge Administration of IAF
Prabhat Kumar / Ambassador of India to the Republic of Kazakhstan
Mohammad Mustafa / CMD Of SIDBI
Indian-Americans are Neil Chatterjee, Krishna / Members of the Federal Energy Regulatory
R. Urs, and Vishal Amin. / Commission (FERC).
Akshay Kumar / Brand ambassador of Swachh Bharat Mission- Uttar
Pradesh
Gautam Kaushik / CEO of PayBack India
Paul Kagame / Wins the Rwanda Election forPresident
DarshanLal / First Hindu to work in Pak govt
Economist Rajiv Kumar / Vice Chairman of NITI Aayog
Senior bureaucrat S Aparna / Executive Director -World Bank
ACQUISITIONS & MERGERS