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Indian Affairs
Tirumala Tirupati temple deposits 2780 kg gold with SBI
Tirumala Tirupati Devasthanams which is the famous temple of Lord Venkateswara and of the richest Hindu temple in India has deposited 2,780 kg of gold with State Bank of India under long term deposit schemeannounced on 29th Aug 2017.
Key Points:
i.The gold deposits have been converted into the Long Term Deposit Scheme at a rate of 2.5% per annum for a period of 12 years from the date of investment under the Gold Monetisation Scheme.
ii.The temple receives offerings from devotees in cash, jewellery, gold, silver, property deeds, and Demat share transfers.
iii.The certificate for the gold deposit was handed over by Amaravathi Circle SBI Chief General Manager Mani Palvesan to the TTD Financial Advicer and Chief Accountants Officer Mr. O. Balaji.
iv.During 2017-18, TTD expects to receive Rs 1,110 crore from capital funds (as kanuka), which would be the major source of revenue, from devotees.
v.Other revenue streams include the Rs 300 special entry darshan, which is expected to fetch a minimum of Rs 256 crore for the financial year,Rs 124 crore from accommodations and Rs 55 crore through Arjitha Seva tickets.
About Tirumala Tirupati
Tirumala Tirupati Devasthanams, abbreviated as TTD, is an independent trust which manages the Tirumala Venkateswara Temple at Tirumala, Andhra Pradesh.
The trust oversees the operations and finances of the second richest and the most visited religious center in the world. I
It is also involved in various social, religious, literary and educational activities. TTD is headquartered at Tirupati.
TTD was established in 1932 as a result of the TTD Act of 1932.
Government to launch Deep Ocean Mission
The Union Ministry of Earth Sciences (MoES) is going to launch Deep Ocean Mission by January 2018 to encourage research activities in ocean science.
Key Notes:
i.The proposed inter-ministerial and interdisciplinary project aims to explore and harness mineral resources beneath the ocean floor.
ii.India has 7,500 km of coastline and 2.4 million square km of exclusive economic zone (EEZ). The oceans along Indian peninsula contain enormous opportunities in energy, food, medicine and a host of other natural resources.
iii.The proposed inter-ministerial and interdisciplinary project also seeks to create jobs and business opportunities in social science.
iv.It will involve the MoES and departments of other ministries like science and technology and the biotechnology etc.
v.The Ministry would soon launch a special training programme on oceanography free of cost for university students.
vi.India was ranked 15th in the number of research papers on ocean science.
Government to hold Pan India Handloom and Handicraft Camps under”Hastkala sahyog Shivir”
The Ministry of Textiles has organized Pan India camps in handlooms and handicrafts groups under the initiative “Hastkala Sahyog Shivir”.
Key Points:
i.The camps will be organized during 7th October to 17th October 2017.
ii.This initiative is dedicated to Pandit Deendayal Upadhyay Garib Kalyan Varsh, the birth centenary year of Pandit Deendayal Upadhayay.
iii.Under these camps following services will be provided to the weavers and artisans.
(a) Issuance of credit facilities through MUDRA scheme
(b) Issuance of Yarn Pass Book
(c) Distribution of modern tool kits and equipments
(d) Assistance for technological upgradation under Hathkargha Samvardhan Sahayata
(e) Enrollment under IGNOU/NIOS courses
(f) Buyer-seller meets and exposure
(g) Access to Common Service Centre facilities
iv.It has been planned to organize the camps in more than 200 handloom Block Level Clusters & Weavers’ Service Centres.
v.There will also be the collaboration of 200 handicraft clusters with State Governments.
First Synergy Conference on Defence Pension Organised by Defence Accounts Department held in New Delhi
On 28th August,2017,the Defence Accounts Department (DAD)organized its first Synergy Conference on Defence Pensions.The conference was attended by all Defence Pensioners Associations and was open to all Defence Pensioners.
i.The objective of the conference was to obtain feedback from the pensioners that would help the department to serve them better with constantly improving systems and procedures. Digitization of pension data and implementation of a pensions app were also discussed in detail.
ii.Joint CGDA (Pension) Shri Kanwaldeep Singh, gave a brief presentation on current status on important issues pertaining to pension.A panel was formed to interact with the pensioners it was headed by Addl. CGDA Shri UpendraSah.
iii.The panel was headed by Addl. CGDA Shri UpendraSah. It had on the panel Joint Secretary (Ex-Servicemen Welfare) Shri Ravi Kant representing the Ministry of Defence, Principal CDA (Pensions) Shri Praveen Kumar. Services representatives ACOP (CP) Rear Admiral KK Pandey and DDG (PS) Brig. JK Rao were also among the panelists.
International Affairs
International Atomic Energy Agency opens atomic fuel reserve in Kazakhstan to ensure supply
On August 29, 2017 International Atomic Energy Agency(IAEA) decided to open a low enriched Uranium bank in Kazakhstan. The objective is to ensure the supply of nuclear fuel in the event of disruption due to political or market problems.
The atomic fuel reserve:
The bank has been established at the Ulba metallurgical plant in northern Kazakhstan. The reserve, will store 90 tons oflow-enriched uranium (LEU), the essential ingredient needed to make the fuel for light-water nuclear reactors, which generate electricity.
Usually low enriched uranium is purchased on the open market or by bilateral agreement between countries, it is a system in which this new bank does not want to disrupt.
The IAEA insists that the reserve is a “mechanism of last resort” for situations in which a UN member nation cannot access fuel by the usual means. The IAEA, which manages the reserve, has established a series of strict criteria for a member state to request and purchase uranium from the bank.
Criteria for member state to make request to purchase uranium from the bank…………Click here to view more detail
Kenya passes world’s toughest plastic bag law
Those who are producing, selling or even using the non-degradable bags now face four years in jail or a $40,000 (USD) /(£31,000) fine in Kenya.
i.Kenya has passed the world’s toughest law against plastic bags on pollution.
ii.Judy Wakhungu , Kenya’s environment minister insisted the non-degradable bag manufacturers would be predominantly targeted first.
iii.Many bags drift into the ocean, strangling turtles, suffocating seabirds and filling the stomachs of dolphins and whales with waste until they die of starvation.
iv.Pastic bags can take between 500 and 1,000 years to break down.
Kenya is a major exporter of plastic bags in Africa. The East African nation joins more than 40 other countries that have banned, partly banned or taxed single-use plastic bags, including China, France, Rwanda, and Italy.
Business
DIPP releases consolidated FDI policy
On 28th august ,2017 the Department of Industrial Policy & Promotion (DIPP) which is under ministry of commerce and industry has released the consolidated Foreign Direct Investment (FDI) Policy on Monday subsuming all the changes in rules and procedures notified by the government over the past year.
For the firsttime, the document included the start-upswhich can raise up to 100% of funds from foreign Venture Capital Investors(FVCI).
During the last one year, the government has liberalised FDI policy in over a dozen sectors, including defence, civil aviation, construction and development, private security agencies and news broadcasting.
Foreign investments are considered crucial for India, which needs around USD 1 trillion for overhauling its infrastructure sector such as ports, airports and highways to boost growth.
Highlights of the policy:
1) On start-ups: –
A start-up company engaged in a sector where foreign investment requires government approval may issue convertible notes to a non-resident only with approval of the government.
Start-ups can issue equity or equity linked instruments or debt instruments to FVCI against receipt of foreign remittance.A person resident outside India (other than citizens/ entities of Pakistan and Bangladesh) will be permitted to purchase convertible notes issued by an Indian start-up company for an amount of Rs25 lakh or more in a single tranche. NRIs can also acquire convertible notes on non- repatriation basis.
2)Sector specific conditions for FDI :-
Banking- Private Sector – Automatic route up to 49%. Approval route beyond and up to 74%………..Click here to view more details
ICEX launches world’s first diamond futures contracts
The Indian Commodity Exchange (ICEX) has launched the world’s first diamond futures contracts. It is going to be the first diamond exchange in the world announced on 28th of Aug 2017. It will provide exporters with a hedging tool.
Key Points:
i.The first diamond contract for delivery in November was traded at Rs 3,279/cent. One cent is the one-hundredth of a carat (ct).
ii.ICEX has launched 1 ct diamond futures contract for delivery in November and followed by contracts with monthly settlements.
iii.The 1-carat contract for expiry in November, December and January will have delivery centre at Surat in the western state of Gujarat.
iv.After making the initial contract successful 50 cents and 30 cents contracts will be introduced.
v.India is a global diamond polishing hub where 14 out of every 15 rough diamonds in the world are polished.
vi.ICEX will offer HVS2 quality diamond certified by the International Institute of Diamond Grading & Research (IIDGR).
Awards & Recognition
NRDC wins two awards
NRDC, the technology transfer and commercialisation arm of the Ministry of Science & Technology hasgrabbed two awards on 29th Aug 2017.
Key Points:
i.The award ceremony was held in Stockholm, Sweden.
ii.NRDC has won the Assocham Services Excellence Award 2017 and its Chairman and Managing Director, H Purushotham an international recognition.
iii.NRDC also won the Assocham Services Excellence Awards 2017 in the area of Technology Transfer Services.
iv.The International Association of Advanced Materials (IAAM) Sweden honoured Purushotham with the IAAM Medal 2017.
v.He has honoured for his outstanding R&D contributions in the Advanced Materials Science & Technology.
vi.The award was presented during the three-day European Advanced Materials Congress held from August 22-24.
vii.About 800 researchers and scientists representing 92 countries had assembled.
viii.NRDC has transferred IPs and technologies to about 5,000 SMEs ,start-ups and corporates.
About NRDC
National Research Development Corporation (NRDC) was established in 1953 by the Government of India.
Its primary objective to promote, develop and commercialise the technologies / know-how / inventions / patents / processes emanating from various national R&D institutions / Universities.
It is presently working under the administrative control of the Dept. of Scientific & Industrial Research, Ministry of Science & Technology.
Lieke Martens named UEFA Women Player of the Year
Lieke Martens has won the UEFA Women’s Player of the Year award after her player-of-the-tournament performance at UEFA Women’s EURO 2017.
Key Points:
i.The 2017-18 UEFA Champions League held in Monaco.
ii.Lieke Martens is from the Netherlands. Lieke Martens was named UEFA Women’s Player of the Year after leading the Netherlands to the 2017 Women’s Euro title.
iii.The UEFA Women’s EURO 2017 winner, who recently signed for FC Barcelona from FC Rosengard, claimed a total of 95 points.
iv.Real Madrid and Portugal forward Cristiano Ronaldo was also awarded Men’s Player of the Year award.
v.He helped Real win the UEFA Champions League for a second successive time last season and also won European Championships with Portugal last year.
vi.Best Goalkeeper of the 2016-17 UEFA Champions League season: Gianluigi Buffon.
vii.Best Defender of the 2016-17 UEFA Champions League season: Sergio Ramos.
viii.Best Midfielder of the 2016-17 UEFA Champions League season: Luka Modric.
ix.Best Forward of the 2016-17 UEFA Champions League season: Cristiano Ronaldo.
x.The UEFA Player of the Year awards are based on players’ performances during the 2016/17 season in all competitions, both domestic and international, and at club and national team levels.
xi.UEFA President’s Award: Francesco Totti.
Appointments & Resigns
Mohammad Mustafa took charge as Chairman and Managing Director of SIDBI
Small Industries development Bank of India (Sidbi) has appointed Mohammad Mustafa as the chairman and managing director announced on 28th of Aug 2017.
Key Points:
i.Mustafa, a 1995 batch IAS officer of Uttar Pradesh cadre, is at present Joint Secretary in Department of Financial Services.
ii.The Appointments Committee of the cabinet has approved his appointment to the post for three years.
About SIDBI
i.Small Industries Development Bank of India is an independent financial institution aimed to aid the growth and development of micro, small and medium-scale enterprises (MSME) in India. Set up on 2nd April 1990
ii.The purpose is to provide refinance facilities and short term lending to industries.
iii.It is headquartered in Lucknow.
iv.Presently Shri Ajay Kumar Kapur and Shri Manoj Mittal are the Deputy Managing Director of the organisation.
BSE board approves another 5-year term for Ashish Chauhan as CEO
BSE, a top stock exchange’s board has approved another five-year term for its chief Ashish Chauhan.
i.Ashish Chauhan was joined in BSE as deputy chief executive officer (CEO) in 2009.He became MD and CEO for a period of five years with effect from November 2, 2012.
ii.The board approved re-appointment of Ashishkumar Chauhan as BSE’s Managing Director and CEO for an another period of five years from November 2, 2017, to November 1, 2022.
iii.He is known for introduction of mobile trading, online real-time surveillance systems and for launching several new products across various market segments such as SMEs, currencies, mutual funds and corporate bonds.
Science & Technology
INCOIS inaugurated Ocean forecasting system for Madagascar and Mozambique
The Indian National Centre for Ocean Information Services (INCOIS) of the Ministry of Earth Sciences hasinaugurated the Ocean Forecasting System for Comoros, Madagascar, and Mozambique.
Key Points:
i.The system was inaugurated at the third Ministerial Meeting of Regional Integrated Multi-Hazard Early Warning System for Asia and Africa (RIMES).
ii.The meeting was held at Port Moresby, Papua New Guinea.
iii.The Ministerial council and the WMO appraised and placed on record the initiatives of INCOIS/India in providing the ocean forecast and early warning services to the Indian Ocean countries.
iv.The ocean forecast and early warning services are most essential for safe navigation and operations at sea and the blue economic growth of many of these Indian Ocean rim countries and Island Nations.
v.The Ocean Forecast System developed for the Indian Ocean countries and the real-time data from their territories also help to improve the ocean forecast and early warning system for Indian coast.
vi.Beneficial To Whom?
The ocean forecast and early warming information on high wave, currents, winds, tides, sub-surface ocean conditions cater to users like
(1) fishermen,
(2) coastal population,
(3) tourism sector,
(4) coastal defence officials,
(5) marine police,
(7) port authorities,
(8) research institutions and offshore industries of these countries
vii.The system would offer oil spill advisory services, high wave alerts, port warnings, forecast along the ship routes in addition to tsunami and storm surge warnings and help in search and rescue operations.
About INCOIS:
The Indian National Centre for Ocean Information Services (INCOIS) is a Hyderabad based organization under the Ministry of Earth science which provides possible ocean information to society, industries and various Government agencies.
It was established in 1999.
Sports
14th World Wrestling Championships 2017 at Paris, France
On August 29,2017, without winning any medal India ended its campaign in 14th World Wrestling Championships (WWC) 2017 held at Paris, France. This is the second successive World Championship that Indian wrestlers have returned empty-handed (previous one was at Budapest, Hungary).
A strong 24-member Indian contingent did not just fail to make it to the podium but everyone lost in the initial rounds of their respective weight categories. None of the wrestlers could win two consecutive bouts in the main round.
The Wrestling Federation of India (WFI) president Brij Bhushan Sharan Singh blamed the organisers saying that the lack of facilities in Paris resulted in wrestlers losing out on 15 days of training ahead of the mega-event.
Indian’s who participated in WWC,2017:
a) Women’s freestyle: Vinesh Phogat , Sakshi Malik ,Sheetal Tyagi, Lalita Sehrawat, Pooja Danda, Shilpi Sheoran, Navjot and Pooja
b) Men’s Greco Roman: Gyanender, Ravinder,Yogesh,Gurpreetsingh, Harpreetsingh, Naveen, Ravinder Khatri.
c) Men’s wrestling squad : Bajrang Punia , Praveen Rana , Deepak , Sumit , Amit Dhankar, Kadiyan, and Satyawart Kadian……Click here to view more details
Lewis Hamilton wins Belgian Grand Prix in F1 title race
On August 27 2017 Lewis Hamilton wins Belgian Grand Prix in his 200th Formula One race.
i.Vettel remained within a second. Daniel Ricciardo was third, fourth-placed Kimi Raikkonen and fifth-placed occupied by Valtteri Bottas.
ii.Hamilton clinched his fifth win of the season and 58th overall, having equaled Michael Schumacher’s pole record Lewis
Important Days
National Sports Day – August 29 2017
On August 29 2017 Prime Minister Narendra Modi tribute to the legendary hockey player Major Dhyan Chand, and congratulated all sportspersons on the occasion of National Sports Day.
He also launched National Sports Talent Search Portal.It will give essential direction and support to youngsters to pursue their ambition in sports.
About Dhyan Chand:
August 29 marks the birth anniversary of India’s hockey legend, Major Dhyan Chand. In order to honour him this day is celebrated as National Sports Day.
i.He earned three gold medals for India during the 1928, 1932 and 1936 Olympics. He is Known as “The Wizard” for his superb ball control.
ii.He was awarded the Padma Bhushan in 1956 by the Indian government for his splendid contribution to Indian hockey.
August 29 2017 International Day against Nuclear tests
The International Day against Nuclear Tests is observed on 29th August. It was established on 2ndDecember 2009 at the 64th session of the United Nations General Assembly by the resolution 64/35.
Key Points:
i.It was on this day, 25 years ago, that the Semipalatinsk nuclear weapon test site in Kazakhstan, one of the largest nuclear weapon test sites in the world, was closed.
ii.Through a co-ordinated and dynamic mix of activities, including conferences, media broadcasts, publications, symposia and others, it is the United Nations’ (UN) belief that “every effort should be made to end.
iii.The International Day against Nuclear Tests fosters ideas of a future free of nuclear weapons and testing.
iv.There will be a need to observe International Day against Nuclear Tests as we work towards promoting peace and security world-wide.
v.In his speech UN chief Antonio Guterres said to ensure that no nation can conduct another test, it is essential that the CTBT, Treaty banning all nuclear explosions, finally enter into force.
vi.More than 2,000 nuclear tests have been conducted over the past seven decades from the South Pacific to North America, from Central Asia to North Africa.
vii.They have harmed some of the world’s most vulnerable people and flawless ecosystems.
viii.Finally, this day we all should remind ourselves of the need for continued systematic and sustained efforts to reduce nuclear weapons globally and also fulfil the ultimate objective – general and complete disarmament under strict and effective international control.
Obituary
Legendary footballer and Olympian Ahmed Khan dead at 90
Ahmed Khan, a member of India’s gold winning football team at the first Asian Games in 1951, passed away. He was 91.
Key Points:
i.Khan represented India in two Olympic Games — 1948 in London and 1952 in Helsinki Finland apart from two Asian Games in Delhi and 1954 in Manila.
ii.Khan, who played as a striker represented India in 11 matches and made his debut against France in the London Olympics.
iii.He was also a member of the victorious back to back Quadrangular Trophy winning Indian squad in 1953 and 1954.
iv.Khan was also known for being an East Bengal legend and was a part of the famous ‘Pancha Pandavas’ of red and gold.
v.He played for East Bengal from 1949 to 1959 and captained the club in 1954.
vi.He won the IFA Shield four times; the Calcutta League, the Durand Cup and the DCM Trophy thrice each; and Rovers Cup, the PK Nair Gold Cup and the HK Mookherjee Shield once each.
