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India Bangladesh join hands for the movement of Petroleum products from Assam to Tripura through Bangladesh
i. India – Bangladesh signed a short-term route agreement to allow transport of petroleum goods from Assam to Tripura through Bangladesh due to the heavy monsoon damaged roads and made the transportation between the two states difficult.
ii. This is a short-term deal and Bangladesh side agreed to the Indian proposal to grant validity of the MoU till September 30.
iii. Indian Oil Corporation Ltd (IOCL) and the Roads and Highways Department (RHD) of Bangladesh signed an MoU in Dhaka. Under the terms of the pact, petroleum items such as motor spirit, high speed diesel, superior kerosene oil and liquefied petroleum gas (LPG) will be permitted to be transported from Assam to Tripura through Bangladesh.
iv. Petroleum Trucks will ride in the Dawki (Meghalaya) – Tamabil (Bangladesh) – Chatlapur (Bangladesh) – Kailasshar (Tripura) route.
v. Bangladesh and India allowed each other to use their respective territories to transfer goods to their one place to another and to a third country in the past in addition to existing transit and transshipment deals arrangements.
vi. It is noted that the Government of India had requested Bangladesh to allow carrying petroleum goods from Assam to Tripura through their territory as heavy monsoons and the resultant bad condition of NH44 have disrupted the supply between these two states.
♦ Capital: Dhaka
♦ Currency: Bangladeshi taka
♦ Prime minister: Sheikh Hasina
Maharashtra launches India’s first Crime Criminal Tracking Network System
i. Maharashtra government has launched the country’s first comprehensive Crime Criminal Tracking Network System CCTNS) on the eve off of the 70th Independence Day in Mumbai.
ii. The System was unveiled by the state Chief Minister Devendra Fadnavis, on launching he also pledged good governance in the state.
iii. This network comes with the cyber force, complete with 42 modern labs and 1000 trained personnel to combat the growing cyber-crimes in the state with the modern technology.
Comprehensive Crime Criminal Tracking Network System
♦ The system was developed by Pune based Centre for Development of Advanced Computing (CDAC) to deal with the complex cyber-crime also ensure quick crime detection.
♦ Upon this integrated network, all police stations would be connected with each other. Similarly, cities like Mumbai, Pune, and Nagpur would be entirely brought under CCTV.
♦ With this launch Online registration of crime has started in Pune city and Mumbai and its suburbs would be brought under CCTV by the end of 2016.
In the view of safeguarding India’s Heritage, NFAI acquires the Bengali Silent Film – Bilwamangal
i. The National Film Archive of India – NFAI has acquired surviving footage of the Indian silent film Bilwamangal (1919) from the Cinema the que Francaise, France. This acquisition is considered an important for NFAI at a juncture when they are in the process of implementing prestigious National Film Heritage Mission to safeguard Country’s cinematic heritage.
ii. Billwamangal is a 1919 Bengali black-and-white silent film by Rustomji Dhotiwala. It is credited as the first Bengali feature film and was released on 1 November 1919 at Comwallis Theatre in Calcutta. It is based on an Urdu play by Agha Hashar Kashmiri.
iii. Bilwamangal is a landmark acquisition for NFAI as there was no trace of work of studio JF Madan available in India. With this acquisition, NFAI now possesses in its collection films representing three important Indian studios of the silent era — Madan, Kohinoor and Hindustan.
iv. Each of these studios had a prolific output, making nearly a hundred films each in the silent era.
v. NFAI will be returning this gesture by providing a digital copy of Indian silent film Jamai Babu (1931) directed by Kalipada Das from our collection as per mutual exchange policy under FIAF framework.
BANKING & FINANCE
Indian Private Banks at the Top Spots among the Global Banks on Key Return Ratios
Leading Indian private banks namely HDFC Bank, Axis Bank and ICICI Bank along with their Chinese peers China Construction Bank Corp (CCB), Industrial and Commercial Bank of China (ICBC) and Agricultural Bank of China (ABC) occupy the top six slots among global banks on key return ratios, namely return on equity (RoE) and return on assets (RoA).
i. For FY16,HDFC Bank and Axis Bank earned thehighest return on assets of 1.91 per cent and 1.67 per cent, respectively, followed by CCB, which clocked return on assets of 1.3 per cent.
ii. ICBC and ICICI Bank completed the top five lists with RoAs of 1.29 per cent and 1.17 per cent,respectively.
iii. The Chinese banks follow December year-end and, hence, the data for them is at the end of calendar year 2015. HDFC Bank tops its global peers on RoE as well, which stood at 18.63 per cent in FY16.
iv. Axis Bank stood fifth in this table with a RoE of 16.95 per cent, after CCB, ICBC and ABC that reported RoEs of 17.18 per cent, 17.1 per cent and 17.03 per cent.
SBI bank board approves the significant merger of Five associate banks and BMB with itself
i. In an attempt to create global size bank, the board of State Bank of India approved scheme of merger of five associate banks and Bharatiya Mahila Bank (BMB) with itself while protecting the interest of the existing staff.
ii. SBI also approved the share swap ratio for merging three associates—State Bank of Bikaner and Jaipur (SBBJ), State Bank of Mysore (SBM) and State Bank of Travancore (SBT)—and BMB. But the Swap ratios for State Bank of Hyderabad and State Bank of Patiala were not announced.
iii. The merger will create a banking mammoth of global scale with a balance sheet of Rs 37 trillion or over 555 billion US Dollar, making SBI as one of the top 50 global financial powerhouses.
iv. As per the merger proposal, SBBJ shareholders will get 28 shares of SBI for every 10 shares. Similarly, SBM and SBT shareholders will get 22 shares of SBI for every 10 shares and there will not be any share swap or cash outgo as SBH and SBP are wholly-owned by the SBI.
v. In the case of Bharatiya Mahila Bank, 4,42,31,510 shares of SBI will be swapped for every 100 crore shares of face value of Rs 10 each. As per the merger proposal, the pay and allowances of the staff of the merging bank will be protected and “shall not be less favorable overall comparatively.
About SBI :
♦ HQ – Mumbai,
♦ Chairperson – Arundathi Bhattacharya
♦ Establishment – 1955.
ICICI Bank goes live with banking transaction product on mobiles & ICICI Bank unveils new ‘smart keys’ mobile app
i. India’s largest Private Sector lender ICICI Bank has launched a payment service using a smartphone keyboard named iMobile SmartKeys to make mobile payments easier.
ii. This solution was developed by one of the winners of the bank’s app developing competition ‘ICICI Appathon‘ which enables users to make quick and secure payments on any mobile application.
iii. The Special feature embedded in the App is users get into the app by pressing Globe Icon tab without closing the other application if they were using.
iv. With this mobile App customers can access the iMobile SmartKeys by long pressing the globe icon on their Mobile keyboard and make transfer money to their listed beneficiaries, pay their utility bills as well as recharge their mobile numbers.
♦ CEO: Chanda Kochhar
♦ Headquarters: Mumbai
♦ Tagline: Hum Hai Na, Khyal Apka.
Fortune Change The World 2016 – Indian giants Cipla and Godrej bags their prestigious spots
i. India’s pharmaceutical giant Cipla Ltd and consumer goods conglomerate Godrej have been recognized by Fortune magazine in a list of global firms changing the world for the good and having a positive social impact through their activities.
THE TOP INDUSTRIES OF THE LIST :
♦ Glaxo Smith Kline – Pharmaceuticals
♦ IDE Technologies – Industrial Machinery
♦ General Electric – Industrial Machinery
♦ Gilead Sciences – Pharmaceuticals
♦ Nestlé – Food Consumer Products
♦ Nike – Apparel
♦ MasterCard – Financial Data Services
♦ United Technologies – Aerospace & Defense
♦ Novozymes Specialty – Chemicals
ii. Other notable ranking in the list are, US retail giant Walmart (15), China’s ride-sharing company Didi Chuxing (30), India-born Indra Nooyi-led PepsiCo (38), Dutch beverages giant Heineken (43) and American motor company Tesla (50).
iii. Cipla is ranked 46th in the list of 50 followed by Godrej on the 48th spot, the only Indian companies in the list.
Central Govt. imposes additional penalty of 2,500 crore on Reliance Industries
i. The Central Government has slapped an additional penalty of $380 million – Rs 2,500 crore on Reliance Industries and its partners for producing less than targeted natural gas from eastern offshore KG-D6 fields.
ii. This is the fifth penalty in as many years that the government has imposed on the operators of the KG Basin gas field, in form of disallowing recovery of cost incurred, for missing the production target since April 2010. The accumulated penalty now stands at a $2.76 billion.
iii. On an annual basis, the government revises the total cost it proposes to disallow and consequently aggregates the figure with those of previous years. It also demands additional profit petroleum as government share. The dispute with RIL started in 2011 and is currently under arbitration, in accordance with the production sharing contract.
iv. It is noted that the Mukesh Ambani-led Reliance stated the government had already collected $81.7 million of the additional profit petroleum claimed.
v. The Company operates in four segments: refining, petrochemicals, oil & gas and organized retail. The refining segment includes production and marketing operations of the petroleum products. The organized retail segment includes organized retail business. It also has operations in the textile, SEZ development, telecom/broadband business and media sectors.
vi. It is noted that every year, based on its own interpretations of the PSC and assumptions, the ministry of petroleum and natural gas revises the total cost it proposes to disallow and consequently aggregates the figure with figures of the previous years.
AWARDS & RECOGNITIONS
Dr Renu Khator – first ever Indian to be inducted into the Texas Women’s Hall of Fame
India based American woman academic Dr Renu Khator is to be inducted into the Texas Women’s Hall of Fame for making significant contribution for the benefit of the Texas state
Hall of Fame 2016 Inductants :-
i. Dr. Renu Khator
ii. Susie Hitchcock-Hall
iii. Emma Carter
iv. Selena Quintanilla
v. Ginger Kerrick
APPOINTMENTS & RESIGNS
Shri Vishvas Vidu Sapkal – New High Commissioner of India to the Republic of Kiribati
i. Shri Vishvas Vidu Sapkal, Officer of Indian Foreign Service – 1998 batch, presently High Commissioner of India to the Republic of Fiji, has been concurrently accredited as the High Commissioner of India to the Republic of Kiribati, with residence in Suva (Fiji).He is expected to take up his assignment shortly.
ii. Kiribati is an island nation in the central Pacific Ocean. The nation comprises 33 atolls and reef islands and one raised coral island; Banaba. They have a total land area of 800 square kilometres (310 sq mi) and are dispersed over 3.5 million square kilometers.
iii. Their spread straddles the equator and the 180th meridian, although the International Date Line is indented to bring the Line Islands in the same day as the Kiribati Islands. The permanent population is just over 100,000 (2011), more than half of whom live on Tarawa Atoll.
iv. Kiribati became independent from the United Kingdom in 1979. The capital and now most populated area,South Tarawa, consists of a number of islets, connected by a series of cause ways. These comprise about half the area of Tarawa Atoll.
v. It is note that Kiribati is a member of the Commonwealth of Nations, the IMF and the World Bank, and became a full member of the United Nations in 1999.
SCIENCE & TECHNOLOGY
Union Ministry of Mines launches web portal for star rating of major mineral mines
i. Power, Coal, Mines and New and Renewable Energy Minister Piyush Goyal launched the web portal for online filing of evaluation template for star rating of mines, which will prompt miners to quickly adopt sustainable practices for a higher rating.
ii. The move is aimed at having all mines in India meeting required parameters to achieve at least four-star rating in the next 3 years. The Minister also has given a deadline for Star Rating of all mines by 31st of December, 2016.
Star Rating of Mines:
♦ The Coal Ministry has developed a template through the Indian Bureau of Mines for Scheme of Star Rating of Mines.
♦ Upon this Scheme a two layered system provided that self-evaluation templates to be packed in by the mine operator monitored by validation through Indian Bureau of Mines.
Cyberabad Commissionerates launch mobile app to involve people in curbing crime
i. The Cyberabad East and West Commissionerates has launched a mobile phone application called Hawk Eye, as a part of responsive policing. The Move endowing public to be citizen police as part of policing actions.
ii. The App seeks to involve citizens to turn as Police to check crimes, curb unlawful activities and traffic violations.
iii. This app has features like Woman safety while on travel, SOS button, Instant notifications on traffic updates, traffic congestions, diversions, alternate routes, besides general and crime alerts will sent be sent to all registered users for accessing help in case of emergency.
External Affairs Ministry joins hand with Facebook for the launch of a new App integrating various media handles
i. The External Affairs Ministry launched an app integrating the websites and social media
handles of over 170 Indian missions abroad on a common platform.
ii. Expanding its digital presence, the External Affairs Ministry combines over 170 Indian missions on a common platform to further its public outreach.
iii. The app is a one stop shop to find social media handles twitter, youtube and websites of all Indian missions abroad.
iv. This app developed in cooperation with social media giant Facebook. This app will help people connect with Indian missions abroad and the Ministry of External Affairs through a range of social media platforms without having to access individual websites.
v. MEA uses Facebook,Twitter, Youtube,Instagram, Gplus, Soundcloud, Flickr to reach out to people as part of its social media engagement. And this app is an example of “consumerisation of foreign policy”, putting power in people’s hand.
CSMCRI utilizes photo catalyst methodology for complete degradation of three Industrial Dyes
i. Scientists at the Central Salt & Marine Chemicals Research Institute (CSMCRI) Bhavanagar, Gujarat cracked the complete degrade three industrial dyes — methyl orange, methylene blue and reactive black-5 — in the presence of sunlight.
ii. It is noted that annually, more than 500 tonnes of non-degradable textile color wastes are being disposed of in natural streams without adequate treatments.
iii. This photo catalyst method is able to completely degrade three industrial dyes — methyl orange, methylene blue and reactive black-5.
iv. The photo catalyst was found to degrade the dyes when exposed to direct sunlight. When a solar concentrator is used, the intensity of the degradation process of dyes also increased.
v. This nano composite photo catalyst is thermally stable. It can be reused up to 6 times with the degradation efficiency remaining at over 97%. It can safely and completely treat harmful dyes in an eco-friendly and cost-effective manner.
Exoplanet GJ 1132b Might Have Oxygen Atmosphere
i. A Venus-like exoplanet GJ 1132b, located 39 light-years from Earth may have atmosphere with oxygen but not life, even though it is being baked to a temperature of around 450 degrees Fahrenheit.
ii. The researchers, further stated that their magma ocean-atmosphere model can help solve the unanswered questions about how Venus evolved over time. This planet is the first time detected with oxygen on a rocky planet outside the solar system.
iii. The Scientists observed that water vapor is a greenhouse gas, the planet would have a robust greenhouse effect, amplifying the star’s even with intense heat.
Court of Arbitration for Sport suspends wrestler Narsingh Yadav for four years
i. Rio bound India wrestler Narsingh Yadav has been banned a four-year by Court of Arbitration for Sports following an appeal by WADA. Yadav was due to compete in the men’s freestyle -74kg at the Rio Olympic Games.
ii. The ban comes with immediate effect that made him to render his participation at the ongoing Rio 2016 Olympics.
iii. The UP hailed Wrestler has been given clean chit by the National Anti-Doping Agency (NADA) after he tested positive test for anabolic steroids.
iv. The Court of Arbitration said in the order that there is no fault or negligence on the athlete’s part and he is a victim of sabotage.
World Anti-Doping Agency:
♦ Headquarters: Montreal, Canada
♦ President: Craig Reedie
Renowned Odia filmmaker, actor and director Gobind Tej passed away
i. Renowned Odia filmmaker, actor and director Gobind Tej died in a private hospital in Bhubaneswar at the age of 88.
ii. Govind Tej is an actor and director, known forRamayan(1980), School Master (1985) and Gare Sindura Dhare Luha (2001)
iii. Tej started his career in films ‘Kedar Gouri’ in 1954 followed by many award winning films like ‘Maa’, ‘Bandhan’, ‘Dharitri’, ‘Mana Akasha’, ‘Bandhu Mohanty’, ‘Nagaphasa’, ‘Ramayan’, ‘Kaberi’, ‘Tunda Baida’, ‘Gare Sindura Dhare Luha’.
iv. He was conferred with Jaydev Samman- the highest award by the state government n the field of films in 1986 for his contribution apart from several other awards.
v. He received Odisha State Film Awards for best director for movies like ‘Kaberi’, ‘School Master’, ‘Tunda Baida’ and ‘Gare Sindura Dhare Luha’ and best actor award for his remarkable acting in the film ‘Bandhu Mohanty’ in 1977.
BOOKS & AUTHORS
‘One Indian Girl’: Chetan Bhagat’s new novel
i. The banker-turned-writer Chetan Bhagat, announced the title of his upcoming fiction One Indian Girl through his twitter handle which was accompanied with a link to a video teaser.
ii. The new fiction will be contrary to all his previous books, this has been penned based on the viewpoint of a woman.
iii. Bhagat has released on YouTube, which recites about the book narrated by an Indian girl, Radhika, who is getting married in a fortnight.
iv. The famous author had authored 7 books which includes five fiction and two non-fiction and his last book, ‘Half-Girlfriend’ is being adapted into a film of the same name starring Bollywood actors Arjun Kapoor and Shraddha Kapoor.
World Humanitarian Day
i. World Humanitarian Day is witnessed on August 19 each year to recognize humanitarian personnel and those who have lost their lives working for humanitarian causes and honors the workers who made promotion of the humanitarian cause.
ii. On this day the UN and its partners are calling for global solidarity with the more than 130 million people who seek humanitarian assistance to survive across the world.
iii. This year the day is observed under the theme of One Humanity which will envisages how the world came together in Istanbul for the World Humanitarian Summit -2016 hosted earlier this year.
iv. This day also highlights the pledges to support people affected by crisis and safeguard that aid workers can safely and more successfully provide to those in need.
v. Theme: One Humanity
World Photography day
i. World Photography day is celebrated every year on August 19 in order to celebrate the 177-year-old journey of photography since 2010
ii. World Photography Day originates from the invention of the Daguerreotype, a photographic processes developed by Joseph Nicèphore Nièpce and Louis Daguerre. On January 9, 1839, The French Academy of Sciences announced the daguerreotype process. A few months later, on August 19, 1839, the French government announced the invention as a gift “Free to the World”.