Current Affairs on Thursday 31st August 2017

Current Affairs for Thursday 31st August 2017

  1. The Union Cabinet has approved Memorandum of Understanding (MoU) between India-Brazil for cooperation in Zebu Cattle Genomics and Assisted Reproductive Technologies. MoU was signed in October 2016. India-Brazil both will work together to promote and facilitate scientific cooperation and setting up of genomic selection programme in Zebu Cattle. Zebu Cattle is a species or subspecies of domestic cattle originating in Indian subcontinent. It also known as indicine cattle or humped cattle.
  2. The Union Cabinet has approved Memorandum of Understanding (MoU) to set up US $40 million India-Israel Industrial R&D and Technological Innovation Fund or I4F. The MoU was signed in July. India and Israel will make contribution of US $4 million (Rs.25 crore) each for Fund, both equivalent amount, annually for 5 years. The MoU will promote bilateral Industrial R&D and Innovation cooperation between India and Israel in fields of science and technology.
  3. The Union Cabinet has given its approval to promulgate an ordinance which amends the Goods and Services Tax (Compensation to States) Act, 2017. The ordinance will amend Schedule of Section 8 of the GST (Compensation to a State) Act, 2017. The approval will allow GST Council to hike the maximum rate of compensation cess levied from the current cap of 15% to 20%.
  4. The Defence Accounts Department (DAD) under the Government of India has organized its first Synergy Conference on Defence Pensions in New Delhi. Conference aimed to obtain feedback from the pensioners. Getting Feedback will improve better services and to modify systems procedures if needed. DAD is Headed by Controller General of Defence Accounts (CGDA).
  5. The Union Home Minister Shri Rajnath Singh along with Delhi Police has inaugurated the “YUVA – A Skill Development Program” in New Delhi. It is an initiative by Delhi Police under Pradhan Mantri Kaushal Vikas Yojana. Under YUVA initiative youth will upgrade their skill as per their competencies. Delhi Police has tied up with National Skill Development Corporation (NSDC) and Confederation of Indian Industry (CII).
  6. NITI Aayog with MyGov and the United Nations has announced the winners of the Women Transforming India Awards 2017 Contest. Contest was launched on the day of International Women’s Day 8 March. Selected woman are awarded for their courage and role in transforming societies. Union Textiles and Information and Broadcasting Minister, Smriti Irani has awarded top 12 winners. Winners are Laxmi Agarwal, Kamal Kumbhar, Arunima Sinha, Subasini Mistry, Safeena Husain, Jamuna Tudu, Harshini Kanhekar, Sunita Kamble, Shima Modak, Rajlakshmi Borthakur, Kanika Tekriwal and Kiran Kanojia
  7. Prime Minister Narendra Modi along with Union minister for road transport and highways Nitin Gadkari has inaugurated road and highway projects worth of Rs15000 crore in Udaipur, Rajasthan. He has laid foundation stones for 11 projects worth of Rs 9490 crore and inaugurated 12 national highways projects worth of Rs5610 crore and. He has also inaugurated Chambal bridge in Kota, Rajashthan.
  8. Prime Minister Narendra Modi will attend the 9th BRICS Summit at Xiamen, Fujian province, China. He will attend the summit from 3rd to 5th of September and then on visit of Myanmar from September 5th to 7th.
  9. The Finance Minister Arun Jaitley said Rs 92,283 crore was collected in July under GST. It surpassed the pre assumed target of tax collection. GST was launched on 1st July 2017.
  10. The Department of Investment and Public Asset Management has approved disinvestment of Central Electronics Ltd. (CEL) through strategic sale. CEL was incorporated as CPSE in 1974 under the administrative control of Ministry of Science and Technology. The government is planning to engage an advisor from a consulting firm, financial institution or investment banker or merchant banker for manage the disinvestment process and getting advisory services.
  11. Government think tank National Institution for Transforming India (NITI) Aayog has suggested establishing a judicial performance index (JPI) to check delay in finalization of cases in lower judiciary courts. It suggested to expedite justice delivery system mainly focused on lower courts where approximately 3 crore cases have been pending for years long. The suggestion was a part of NITI Aayog’s Three Year Action Agenda 2017-20 recommendations for far-reaching reforms.
  12. The Commerce and Industry Ministry’s Department of Industrial Policy and Promotion (DIPP) is going to release a new industrial policy by October 2017. The new policy aims at making India a manufacturing hub by promoting ‘Make in India”. Polity will focus on higher value addition in Indian branded products. To facilitate greater technology transfer policy will also review the existing foreign direct investment (FDI) policy. New Policy is expected to replace National Manufacturing Policy that was released in 2011.
  13. Chairman and Managing Director of Bharat Sanchar Nigam Limited, Anupam Shrivastava has announced to set up 1 lakh wi-fi spots all over the India by March 2019. 70,000 in urban and 25,000 in rural areas and remaining 5000 for business purpose.
  14. Commerce Minister Nirmala Sitharaman and External Affairs Minister Sushma Swaraj and will attend the third Eastern Economic Forum at Vladivostok, Russia in next week. Opening ceremony of the Forum is September 6.
  15. The New Development Bank (NDB) has approved USD 1.4 billion loans for sustainable development projects in China, India and Russia. For India, The Bank has approved USD 470 million loans for Multi-Village Rural Drinking Water Supply Scheme Project of Madhya Pradesh.
  16. Tech Giant Google owned YouTube has changed its logo. New logo has a red play icon at the left side and then youtube name at the right side in black colour. Earlier “You” was at the left side and “Tube” in red color at the right. Youtube also brought some major design change for desktop and mobile interface.
  17. Freyr Energy a solar energy services company has tied up with Axis Bank to offer long term loans for solar rooftop installations in Telangana and Andhra Pradesh. Loan ranges from Rs 5 lakh to Rs 50 lakh for a maximum tenure of five years. The loans will be given to install Freyr rooftop solar plants.. Initially loan will be given to MSMEs and self-employed individuals.
  18. Indian Hotels Company Ltd (IHCL) has appointed Puneet Chhatwal as new MD and CEO for the firm. Currently Puneet Chhatwal is chief executive of Duetsche Hospitality. He will succeed Rakesh Sarna. Indian Hotels Company Ltd is Tata group’s hospitality firm.
  19. Fourth Session of India-Tanzania Joint Trade Committee (JTC) meeting was held in New Delhi. The Indian delegation was led by Minister for State for Commerce and Industry Ms. Nirmala Sitharaman represented Indian side while Mr. Charles John Mwijage, Minister of Industry, Trade and Investment represented Tanzanian side.
  20. Canara HSBC Oriental Bank of Commerce Life Insurance Company (CHOICE) has launched Point-of-Sale (PoS) product. The first product is ‘PoS – Easy Bima Plan’ and it is a pure term insurance plan. Initially products would be available through bank branches of Canara Bank and Oriental Bank of Commerce (OBC).
  21. Sri Lankan cricket selection panel which was headed by Sanath Jayasuriya has stepped down. One of the reasons is the performance of Sri Lankan cricket team against India. Sri Lanka lost Test series by 0-3 and have already lost the ongoing five-match ODI series.
  22. Bombay Stock Exchange (BSE) board has approved another five-year term for its MD and CEO, Ashish Chauhan. Ashish was made appointed as MD and CEO in November 2012 for a period of five years. Now after this extension he will be Managing Director and CEO of BSE till 1st November 2022.
  23. The Board’s Committee of Administrators (COA) has announced the restoration of Duleep Trophy for the season. A few days ago Board of Control for Cricket in India (BCCI) had scrapped Duleep Trophy for the upcoming season when BCCI released its domestic calendar. One of the reasons to scrape Duleep Trophy was tight domestic schedule of BCCI.

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