Current Affairs Today September 12 2017

We are here for you to provide the important current affairs of September 12 2017 which have unique updates of all daily events from all newspapers such as The Hindu, The Economic Times, PIB, Times of India, India Today, Indian Express, Business Standard, all Government official websites. Our complete current affairs helps you to get more marks in Banking, insurance, UPSC, SSC, CLAT, Railway and all other competitive Exams.

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Indian Affairs

Union Government reorganises six Committees of Cabinet
After the recent ministry reshuffle On September 11,2017 the Union Government has reorganised six Committees of the Cabinet.
i.Defence minister Nirmala sitharaman and Railway ministerPiyush whose portfolios was recently elevated were inducted in Cabinet Committee on Political affairs(CCPA).
ii. Nirmala sitharaman , Piyush  ,Minister for Petroleum and Natural GasDharmendra Pradhan were also included as permanent members of the Cabinet Committee on Economic Affairs (CCEA).
What are Cabinet Committees?
i.They are extra constitutional bodies (i.e.) It don’t find a mention in our constitution. Their establishment is provided in Rules of procedure.ii) There are two types of cabinet committees ,adhoc(temporary) and permanent…..…Click here for more detail

India-Afghanistan Second Strategic Partnership Council Meeting 2017
On September 11,2017, the second Strategic Partnership Council meeting between two nations was held at New Delhi.As a part of the meeting, external affairs minister Sushma Swaraj and her Afghan counterpart Salahuddin Rabbani held talks on wide- ranging topics.The Strategic Partnership Council discussed a range of bilateral, regional and global issues of mutual interest and shared understanding and convergence of views on them.
i) Political & Security Consultations: –
India agreed to extend assistance for the Afghan National Defence and Security Forces to fight against terrorism, organized crime, trafficking of narcotics and money laundering.The Indian side reiterated its support for an Afghan-led and Afghan-owned peace and reconciliation process.
ii)Trade, Commerce and Investment Cooperation: –
            The two sides welcomed the establishment of the Air Cargo Corridor between Kabul and Kandahar with New Delhi in June 2017.Both sides agreed to work towards operationalisation of the Chahbahar Port in Iran under the trilateral Agreement for Establishment of International Transport and Transit Corridor signed in May 2016. 
iii)New Development Partnership: –
Both sides agreed to initiate an ambitious and forward looking next generation ‘New Development Partnership’.
Both sides agreed to take up 116 High Impact Community Development Projects to be implemented in 31 provinces of Afghanistan, including in the areas of education, health, agriculture, irrigation, drinking water, renewable energy, flood control, micro-hydropower, sports infrastructure, administrative infrastructure.
iv)Projects with the help of Indian aid

• Shahtoot dam and drinking water project for Kabul that would also facilitate irrigation;
• Low cost housing for returning Afghan refugees in Nangarhar Province to promote resettlement; ·

v)People to People Contacts, Culture, Education, Health, Science and Technology

• Implementation of 500 scholarships for graduate studies in India for the next-of-kin of martyrs of the Afghan National Defence and Security Forces from the Academic year 2018-19 and expand the medical assistance for Afghan National Army personnel.
• Establishment of ANASTU (Afghan National Agricultural Sciences and Technology University) in Kandahar was agreed to explore further cooperation in strengthening of ANASTU as an agricultural university.

vi) Documents Exchanged
(a) Motor Vehicles Agreement for the Regulation of Passenger, Personal and Cargo Vehicular Traffic;
(b) Memorandum of Understanding between the National Medicine and Healthcare Products Regulatory Authority of Afghanistan, Islamic Republic of Afghanistan and the Central Drugs Standard Control Organisation (CDSCO), Directorate General of Health Services, Ministry of Health and Family Welfare for mutual cooperation in the field of pharmaceutical products regulation………Click here for more detail

Netaji statue unveiled at West Bengal’s Naval Area Headquarters
On September 10,2017, an eight-foot bronze statue of Netaji Subhas Chandra Bose was unveiled at the Naval Area headquarters of West Bengal by Vice Admiral HCS Bisht, Flag Officer Commanding-in-Chief, Eastern Naval Command in the presence of Professor Krishna Bose, Netaji’s niece-in-law and chairperson of Netaji Research Bureau. Several dignitaries attended the statue opening ceremony including Consul-General of Japan in Kolkata Masayuki Taga
Quick Facts about Netaji:

1. Born in Cuttack(Orissa), he was an affluent and successful lawyer in Cuttack and received the title of “Rai Bahadur“.
2. He later became a member of the Bengal Legislative Council.
3. He cracked the civil service examination with 4^th rank.
4. He considered C.R das as his political guru, He started the newspaper ‘Swaraj’
5. He was a part of Indian National Congress; Forward Bloc; Indian National Army.
6. Bose’s primary ideology was always the freedom of his motherland even if meant taking help from fascists like Mussolini or Hitler.

World Congress of Optometry begins in Hyderabad
On September 11,2017, the second World Congress of Optometry began in Hyderabad. It was inaugurated by State Health Minister C. Laxma Reddy.It was organised in partnership with the Asia Pacific Council of Optometry (APCO) and the India Vision Institute (IVI).The theme of the conference is “Accessible, quality vision and eye health”
About the congress: –

1. The aim of the congress is to give unique opportunity for anyone in the eye health sector including community and hospital practitioners, researchers, academics and students.
2. In Hyderabad congress they’ll discuss the latest research in optometry. While cataract remains the leading cause of blindness in developing countries, refractive errors are leading to preventable blindness. The talks will focus on the future of Optometry, upgrading Optometrists’ skills, as well as developing clinical and professional knowledge and skills.
3. The congress is in line with WHO’s ‘Universal eye health: A global action plan 2014-2019’ which aims to reduce the avoidable visual impairment by 25 per cent by 2019.
4. The first congress of optometry was held in Columbia .It was organised by World Council of Optometry (WCO), and La Federación Colombiana de Optómetras (FEDOPTO).

Himachal Pradesh CM Virbhadra Singh launches phase one of Kashang hydel project
On September 12,2017 Himachal Chief Minister Virbhadra Singh inaugurated first phase of 65 MW Kashang Hydel Project in the tribal Kinnaur district. Kashang Project is being executed by Himachal Pradesh Power Corporation Limited (HPPCL).It is a 195 MW project ( three units of 65 MW each).
Initial problems and its significance: –

1. The project commenced in 2009
2. Due to some rehabilitation disputes pending in the National Green Tribunal, only 65 MW power was being produced presently.
3. The project affected areas would be provided 100 units free electricity per month once the project was commissioned completely and self-employment opportunities have been provided for them by taking funds from  Local Area Development Fund (LADF)
4. The state government was giving financial assistance instead of forest customary rights for 500 days minimum wages for labour disbursed to 510 affected families amounting to Rs 3.76 crore.

National Pension System joining age limit raised to 65 years
On September 11,2017, the PFRDA chairman Hemant Contractor announced at a conference in Delhi that the upper age limit for joining the National Pension System (NPS) has been raised to 65 years from the current 60. The announcement by PFRDA will allow more people to come under the pension cover as currently only 15-16 per cent of employees in India are covered by pension
About National Pension Scheme : –

1. It is a contribution based pension scheme aimed at providing income in retirement years with market-based return over the long term.
2. Under NPS, there are two types of accounts: Tier I and Tier II. While the Tier I account is non-withdrawable till the age of 60 except in specific situations, the Tier II account is voluntary and can be withdrawn anytime.
3. NPS account can be opened by Indian citizens above 18 years and less than 65 years of age(earlier this was 60). Non-resident Indians (NRIs) can also open an NPS account.
4. The maturity tenure is not fixed in case of NPS; you can contribute to the NPS account till the age of 70.It could be used to avail tax benefits
5. Premature withdrawal is also allowed in NPS in specific circumstances. After 10 years, subscribers become eligible for early, partial withdrawal under specific circumstance like children’s higher education or marriage, construction or purchase of house and treatment of critical illness. But if you want to exit before retirement, you must use at least 80 per cent of the accumulated corpus to buy an annuity from a life insurance company including LIC.
6. In NPS you have the discretion in deciding where to invest your money. You can choose from a mix of three funds – equity funds(75% is allowed in this ), government securities fund and fixed income instruments other than government securities.

Commerce & Industry Ministry organised State Startup Conference in New Delhi
On 12^th September 2017, the Department of Industrial Policy and Promotion (DIPP) organized the 2^nd States’ Startup Conference at Pravasi Bhartiya Kendra, New Delhi.
State Startup Conference:

1. Participants:Venture Capitalists (VCs), Incubators, Accelerators, Banks, etc. and over 100 Startups from all over India.
2. Issues regarding incubation facilities in India, role of State Government in arranging funds and making regulations easier for Startups were discussed.
3. Various states presented the initiatives taken by them to promote startups.
4. Odisha presented a comprehensive portal, helpline and various learning & development initiatives.
5. Tamil Nadu presented the extensive network of innovation centers.
6. Jharkhand presented their bottom up approach of promoting innovation by approaching schools to develop innovation through a ‘germinator.’
7. Himachal Pradesh, Rajasthan, Uttar Pradesh, Gujarat, Haryana, Bihar, Kerala, Karnataka, Chhattisgarh, Madhya Pradesh and Andhra Pradesh also made presentations about supporting Startups.

About Delhi:

1. Union Territory
2. Capital – New Delhi
3. Chief Minister – Mr.Arvind Kejiriwal

Shripad Naik inaugurated Regional Research Institute of Homeopathy in Agartala
On September 12,2017 Union Minister of State (Independent Charge) for AYUSH Shripad Naik has inaugurated the Regional Research Institute of Homoeopathy (RRI) in Agartala, Tripura, as part of the government’s plan to strengthen health services and propagate traditional systems of medicine in North-Eastern states.

1. This is the 3rd homoeopathic regional research institute in the North Eastern region and the first with own land and building.
2. RRI is among the nine institutes functioning under the Central Council for Research in Homoeopathy (CCRH). The institute is spread over an area of 2.05 acres and offers facilities like general OPD, research OPD, pathological investigations, and a 30-bedded IPD.
3. He urged Homeopathic researchers to contribute and help the Government in the management of epidemics like Dengue, Chikungunya, Malaria and Swine Flu as the contribution of Homeopathy in controlling epidemics.

International Affairs

Fifth EAS Economic Ministers’ Meeting held in Philippines
On 9^th September 2017, 5th East Asia Summit Economic Ministers Meeting was held in Pasay City, Philippines.
Highlights of the Fifth EAS Economic Ministers’ Meeting:

1. Chairperson:Mr.Ramon M. Lopez, Secretary of Trade and Industry of Philippines
2. Participants:Economic Ministers from all ASEAN (Association of Southeast Asian Nations) Member States (AMS), Australia, China, India, Japan, Republic of Korea, New Zealand, the Russian Federation and the United States
3. Members of ASEAN were congratulated on the 50^th Founding Anniversary of ASEAN, by other EAS ministers.
4. The Ministers supported the strong trade and investment relations among the EAS countries.
5. Global economic growth is predicted to increase to 3.5 % in 2017.
6. There are risks and uncertainties, but the strong macroeconomic fundamentals of EAS countries would help East Asian countries to face challenges.
7. The Ministers also highlighted the importance of trade agreements being open, transparent, and WTO (World Trade Organisation) -consistent.
8. The Ministers committed to continue to fight against all unfair trade practices.
9. The Ministers appreciated the ERIA (Economic Research Institute for ASEAN and East Asia).
10. The ERIA is used to exchange information and knowledge between ASEAN and East Asian countries.

About Philippines:

1.  Capital – Manila
2.  Official language – Filipinon and English
3.  President – Mr. Rodrigo Duterte
4.  Currency – Peso

Banking & Finance

Bharat Financial Inclusion signs pact with IndusInd Bank to explore merger
On 11^th September 2017, the board of directors of IndusInd Bank signed an agreement with Bharat Financial Inclusion to analyse a potential merger between the two companies.
About the agreement:

1. IndusInd Bank and Bharat Financial Inclusion have signed an exclusive agreement.
2. The agreement is about discussion of merger between both the companies.
3. The agreement states that the information of the discussion would be confidential and terms conditions would be finalized for the proposed merger.

About IndusInd Bank:

1.  Headquarters – Mumbai
2.  CEO – Mr.Romesh Sobti

About Bharat Financial Inclusion:

1.  Headquarters – Hyderabad
2.  Founder – Mr.Vikram Akula

Banks need $65 billion additional capital to meet Basel III norms: Fitch
On 12^th September 2017, Fitch Ratings declared that Indian banks will need an additional capital of $65 billion in order to satisfy all the banking rules of global Basel III norms, by March 2019.
About the requirement of additional capital:

1. Indian banks will need an additional capital of $65 billion by March 2019.
2. State-run banks account for 95% of the capital.
3. Fitch warns that Indian lenders have limited options to raise the capital.
4. Stressed loans in Indian banks make a record $150 billion, with most of them in the state-run banks.
5. Unless NPL (non-performing loan) are resolved it is not possible for the state-run banks to recover the capital.
6. The reasons for this are low common equity ratios and provisioning requirements for new loans.

About Fitch Ratings:

1.  Financial Services Firm
2.  Headquarters – New York
3.  President& CEO – Mr.Paul Taylor

Business

Mother Dairy ties up with Maharashtra Government for processing plant
On 11^th September 2017, The Maharashtra government and Mother Dairy Fruit and Vegetable Private Limited, a subsidiary of National Dairy Development Board (NDDB), announced the signing of a MoU, in Mumbai.
About the tie up:

1. Maharashtra Chief Minister Mr.Devendra Fadnavis, and NDDB Chairman Mr.Dilip Rath were present during the occasion.
2. The MoU is about a lease agreement to set up plant for the processing of milk and milk products.
3. The MoU states that a dairy development initiative would begin in Vidarbha and Marathwada to provide access to milk producers to markets in Nagpur and Mumbai.
4. Nagpur dairy which is on lease would be transferred elsewhere.
5. Land for setting up a new dairy at Gove Bhiwandi would be allotted.
6. Maharashtra Government would provide assistance, including funds, for increasing productivity through animal breeding, nutrition and health.

About Maharashtra:

1.  Capital – Mumbai
2.  Official language – Marathi
3.  Chief Minister – Mr.Devendra Fadnavis
4.  Governor – Mr.C.Vidyasagar Rao

Karnataka & Finland in innovation tie up for start-up incubation
On 11^th September 2017, Karnataka Department of Information Technology (IT) and Biotechnology (BT) signed a MoU with the Embassy of Finland, in Bengaluru.
About the MoU:

1. The innovation co – operation between Karnataka and Finland is calledKarnataka–Finland Innovation Corridor.
2. It offers a virtual platform that enables the exchange of information and expertise in the fields of science, research, innovation and skill development.

Joint projects:

1. Joint projects such as start-up incubation programmes, research programmes, events, competitions and exposure visits would be organized.
2. Karnataka-based i-Samarth programme, would be the focal point for Indian and Finnish companies to collaborate in the fields of research and development (R&D) and innovation.
3. Karnataka and Finland would organize necessary skill development programmes.
4. A high-level steering committee, that would monitor the progress of the Karnataka–Finland Innovation Corridor, would meet at least oncein six months.
5. Co-chairmans of the steering committee are: Mr.Priyank Kharge, Karnataka Minister of IT, BT & Tourism, and Ms.Nina Vaskunlahti, Ambassador of Finland to India.
6. Secretaries of the steering committee are: The Principal Secretary of the Department of IT & BT and the Counsellor (Economic & Commercial) from the Embassy of Finland in New Delhi.

About Finland:

1.  Capital – Helsinki
2.  Official languages – Finnish& Swedish
3.  Currency – Euro
4. President – Mr.Sauli Niinisto
5. Prime Minister – Mr.Juha Sipila

Awards & Recognition

Prakash Padukone to receive BAI’s first Lifetime Achievement Award
On 11^th September 2017, Badminton Association of India (BAI) announced that it would award its first Lifetime Achievement Award to Prakash Padukone, in Kochi.
About the first lifetime achievement award:

1. The announcement was made by BAI president Dr.Himanta Bishwa Sarma during BWF World Senior Championships, in Kochi.
2. A grand ceremony would be organized in Delhi to honour Prakash Padukone with the award.
3. He would be awarded a cash prize of Rs.10 lakh and a citation.
4. It was also announced that there would be a significant increase in the prize amount for the Senior National Championships up to Rs.1 crore.
5. Prakash Padukone is the only Indian male badminton player to have reach the world number 1 rank.
6. He hails from Karnataka.
7. He has been awarded the Arjuna Award and Padma Shri Award by the Government of India.

About Badminton Association of India (BAI):

1.  Headquarters – Lucknow
2. President – Dr.Himanta Bishwa Sarma

TCS makes it to Fortune 50 List of Companies That Changed the World
On 11^th September 2017, TCS (Tata Consultancy Services) appeared in Fortune’s annual list of the Top 50 companies that are changing the world.
About TCS in the top 50:

1. TCS is the only Indian Company that made to the list.
2. TCS is ranked number 30 on the list.
3. TCS’s mKRISHI® App is one of the important reasons that got TCS into the list.
4. mKRISHI® is a mobile app.
5. It lets farmers to access customised expert advice, market information and weather data.
6. It provides personalised and integrated services in local languages to farmers.
7. It allows them to send queries to agricultural experts in their local language. Relpy to their queries are provided in the same language.

About Tata Consultancy Services (TCS):

1.  Headquarters – Mumbai
2.  Chairman – Mr. Natarajan Chandrasekaran
3.  CEO& MD – Mr. Rajesh Gopinathan

Indian economist Bina Agarwal wins prestigious Balzan Prize
On 12^th September 2017, Indian economist Ms.Bina Agarwal was announced the Balzan Prize, which is to be awarded in Bern, Switzerland, in November 2017.
Balzan Prizes 2017:

1. Indian economist Ms.Bina Agarwal, has been announced as Balzan Prize winner in the gender studies category for her “heroic” work studying women’s contributions to agriculture in India.
2. She is a professor at the University of Manchester, United States of America.
3. Recipients would receive 7,50,000 Swiss francs ($790,000). In which half of the amount must be used for research.
4. Mr.James Allison of the University of Texas MD Anderson Cancer Center and Mr.Robert Schreiber of the Washington University School of Medicine were announced Balzan award for their work on antibody treatments that has increased the survival of patients with metastatic melanoma.
5. Also Belgian and German scholars were announced Balzan Prizes for their work.

About Balzan Prize:

1. Awarded by International Balzan Prize Foundation
2. Awards four annual monetary prizes
3. For outstanding achievements in the fields of humanities, natural sciences, peace etc.

Acquisitions & Mergers

Infosys acquired London-based product design firm Brilliant Basics
On 11^th September 2017, Infosys announced that it has acquired London-based product design firm Brilliant Basics.
About the acquisition:

1. Infosys has acquired Brilliant Basics for 7.5-million pounds (approx Rs 63 crore) in an all-cash deal.
2. Through this acquisition Infosys has extended its digital design services network to Europe and the West Asia.
3. Infosys has expanded its worldwide network of ‘Digital Studios’ that provides services for global clients in end-to-end digital transformation.
4. It has improved the company’s expertise in financial services, retail and telecommunication sectors.

About Infosys:

1.  Headquarters – Bengaluru
2.  Interim CEO& MD – Mr.U.B.Praveen Rao

Science & Technology

FSSAI launches online platform “FoSCoRIS” for food inspection & sampling
On 11^th September 2017, Food Safety and Standards Authority of India (FSSAI) launched an online platform named ‘FoSCoRIS’, in New Delhi.
FoSCoRIS:

1. FoSCoRIS is an online web-based platform where data related to inspection, sampling and test result data would be shared by all the officials.
2. The purpose of this project is to be bring transparency in food safety inspection and sampling.
3. This would eliminate discrepancy and make food safety officers accountable.
4. This would simplify the process of sample collection, increase transparency and traceability.
5. This system would help enforcement of food safety and hygiene standards by food businesses as per the government norms.
6. This would bring all important stakeholders such as food businesses, food safety officers (FSOs), designated officers, and state food safety commissioners together on the online platform.
7. In the initial phase, the FSSAI would bear the cost of rental plans for first three months to a maximum of Rs.500 per month per connection to first ten states and Union Territories.
8. All the states are asked to adopt this system.
9. This system requires a hand-held device with internet connectivity with (Food Safety Officers) FSOs.
10. States that have already provided hand-held devices to FSOs are asked to adopt the system immediately.
11. Other states have been asked to provide such devices to FSOs and reimburse mobile expenses to them.
12. The states have been asked to appoint a nodal officer for this system. Details of the officers of the state food authority would be integrated with FoSCoRIS.

About FSSAI:

1.  Food Safety and Standards Authority of India
2.  Headquarters – New Delhi
3.  Chairperson – Mr.Ashish Bahuguna
4.  CEO – Mr. Pawan Kumar Agarwal

Sports

US Open Tennis 2017
The 2017 US Open Tennis was held from 22nd August 2017 to 10th September 2017, on hard courts at the USTA Billie Jean King National Tennis Center, in New York. It was the 137th edition of the US Open Tennis and the 4th and final Grand Slam event of 2017. It was run by the International Tennis Federation (ITF).
Men’s singles: Rafael Nadal won the title:
i.On 10th September 2017, Rafael Nadal won the US Open 2017 Men singles title by defeating Kevin Anderson by 6-3, 6-3, 6-4 at Arthur Ashe Stadium in Flushing, New York.Now,Rafael Nadal has won his 3rd US Open title and 16th Grand Slam title.
iii.Rafael Nadal is currently the world’s number one tennis player in men’s singles. He belongs to Spain. He is also referred as ‘The King of Clay’.
Women singles: Sloane Stephens of US won the title:
i.On 9th September 2017, Sloane Stephen won the Women’s singles title by defeating Madison Keys in the finals by 6-3, 6-0 at Arthur Ashe Stadium.
Men’s doubles: Jean-Julien Rojer and Horia Tecau won the title:
i.On 8th September 2017, Jean-Julien Rojer and Horia Tecau defeated Feliciano Lopez and Marc Lopez by 6-4, 6-3 and won the 2017 US Open men’s doubles Grand Slam, in Arthur Ashe Stadium.
Women Doubles: Chan Yung-Jan and Martina Hingis won the title:
i.On 10th September 2017, Chan Yung-Jan and Martina Hingis defeated Lucie Hradecka and Katerina Siniakova by 6-3, 6-2, in Arthur Ashe Stadium.
Mixed Doubles: Martina Hingis and Jamie Murray won the title:
i.Martina Hingis and Jamie Murray defeated Chan Hao-ching and Michael Venus by 6-1, 4-6 (10-8) in Arthur Ashe Stadium…….…Click here for more detail

Sumit Nagal wins ITF Futures tournament
On 9^th September 2017, Indian tennis player Sumit Nagal won the ITF Futures tournament, in Chennai.
About Sumit Nagal’s win:

1. S R Subramaniam Memorial ITF Futures tournament was held on 9^thSeptember 2017, in Chennai.
2. Indian tennis player Sumit Nagal and Netherland tennis player Colin van Beem met in the finals.
3. Sumit Nagal played well from the beginning.
4. He defeated Colin van Beem by 6-3, 6-0 in the finals of the singles match and won the title.

About Sumit Nagal:

1.  Indian tennis player
2.  Current world ranking – 306

Important Days

United Nations Day for South-South Cooperation – September 12, 2017
On 12^th September 2017, United Nations Day for South-South Cooperation is observed.
South-South Co-operation Day:

1. The United Nations Day for South-South Cooperation celebrates the economic, social and political developments made in recent years by regions and countries in the South.
2. The Global South-South Development Expo 2017 would be hosted by Turkey, in Antalya from 27^th to 30^th  November 2017.
3. The theme would be “South-South Cooperation in the Era of Economic, Social and Environmental Transformation: Road to the 40th Anniversary of the Adoption of the Buenos Aires Plan of Action (BAPA+40)”.

About Turkey:

1.  Capital – Ankara
2.  Official language – Turkish
3.  Currency – Turkish lira
4.  President – Mr.Recep Tayyip Erdoğan
5.  Prime Minister- Mr.Binali Yıldırım