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INDIAN AFFAIRS
Central Government notifies the Companies (Amendment) Act, 2017
On January 3, 2018, Central Government notified the Companies (Amendment) Act, 2017. Certain provisions of this amendment act will ease the implementation of the Insolvency and Bankruptcy Code 2016.
Key Provisions of Companies (Amendment) Act, 2017:
i. As per Section 53 of the Companies Act, 2013 companies were prohibited to issue shares at a discount. Amendment Act has now allowed companies to issue shares at a discount to its creditors in instances wherein its debt is converted into shares as part of any statutory resolution plan/debt restructuring under Insolvency and Bankruptcy Code.
ii. For defaulting companies, payment of managerial remuneration in excess of 11 percent of the net profits will now require approval of all stakeholders involved viz. banks, public financial institutions and other creditors.
iii. The amendment has also modified provision relating to registered valuer from undertaking valuation of any assets in which he has a direct or indirect interest.
Territorial Army battalion of ex-Armymen to clean Ganga
Central Government has sanctioned the raising of a Territorial Army (TA) battalion for cleaning River Ganga. This battalion will comprise only of ex-servicemen of the army.
Details about Territorial Army battalion to clean Ganga:
i. This battalion will be raised in February 2018 in Allahabad, Uttar Pradesh, as a Composite Ecological Task Force (CETF) battalion of Territorial Army (TA).
ii. Central Government has allocated Rs 167 crore for this battalion.
iii. The CETF TA battalion will be headed by a Colonel-rank officer. It will have eight officers, 20 Junior Commissioned Officer (JCOs) and around 500 other ranks on its roll.
iv. It is to be noted that Territorial Army is considered as India’s second line of defence after the regular Army. Territorial Army functions under Union Defence Ministry.
Bihar Government bans electronic cigarettes
Bihar State Government has imposed a ban on manufacture, distribution, sale, purchase, display and advertisement of electronic cigarettes (e-cigarettes) across the state.
i. E-cigarettes are handheld battery-run devices which are smoked just like a conventional cigarette. However the ingredient (in liquid form) may differ.
ii. The ban also applies to online sale and purchase of e-cigarettes.
iii. It is to be noted Bihar has already imposed ban on manufacture, distribution, trade, sale, purchase, display and advertisement of all tobacco products and items containing nicotine and not approved by the Drug Controller General of India (DGCI).
Quick Facts about Bihar:
♦ Capital – Patna
♦ Current Governor – Satya Pal Malik
♦ Current Chief Minister – Nitish Kumar
♦ Important National Park – Valmiki National Park
Odisha tribe Mankidia denied habitat in Similipal
Mankidia, a tribe of Odisha, was denied habitat rights inside the Similipal Tiger Reserve (STR) in Odisha.
Mankidia denied habitat in Similipal Tiger Reserve (STR):
i. Mankidia is one among the 13 Particularly Vulnerable Tribal Groups (PVTG) in Odisha.
ii. They were denied habitat rights inside the Similipal Tiger Reserve under the historic Scheduled Tribes and Other Traditional Forest Dwellers (Recognition of Forest Rights) Act, 2006.
iii. They were denied habitat because the Odisha Forest Department has stated that the tribals are likely to be attacked by wild animals, mainly tigers.
iv. J. D. Pati, deputy director of STR, had objected providing habitat rights to Makidia stating that, it would hinder free movement of tigers and other animals.
About Mankidia:
Livelihood – making rope with siali fibre available in Similipal
Native – Odisha
INTERNATIONAL AFFAIRS
Turkey extends state of emergency for a sixth time
On January 8, 2018, Turkish government announced plans to extend the ongoing state of emergency for the sixth time.
i. State of emergency was first imposed in July 2016 after a failed coup to overthrow incumbent Turkish President Recep Tayyip Erdogan.
ii. Turkish authorities have extended the emergency to crackdown on individuals connected with the failed coup.
iii. Since the attempted coup, over 55000 people have been arrested and 140000 public sector workers have been suspended or sacked.
iv. The ongoing state of emergency is set to expire on January 19, 2018. The fresh extension will be for another three months.
Quick Facts about Turkey:
♦ Capital – Ankara
♦ Currency – Turkish lira
♦ Current President – Recep Tayyip Erdogan
♦ Important Rivers – Euphrates, Tigris
BANKING & FINANCE
PNB ties up with NSFDC for assisting SC families
Punjab National Bank (PNB) and National Scheduled Castes Finance and Development Corporation (NSFDC) have signed a memorandum of understanding (MoU) to provide financial assistance to Scheduled Caste (SC) families living below Double Poverty Line (DPL).
Information about PNB-NSFDC MoU:
i. As per the terms of the MoU, PNB will be the channelising agency for the loan schemes of NSFDC.
ii. With an objective to further economic empowerment, unemployed SC persons living below Double Poverty Line will be provided Concessional finance and skill training grants.
iii. At present, persons whose family income is below Rs.40000/- per annum in rural areas and Rs.55000/- per annum in urban areas are considered to be below double poverty line.
Quick Facts about PNB:
♦ Founded in – 1894
♦ Headquarters – New Delhi
♦ Current MD & CEO – Sunil Mehta
♦ Tagline – ‘The name you can bank upon’
BUSINESS
Flipkart’s PhonePe inks pact with FreeCharge
On January 9, 2018, Flipkart-owned payments platform PhonePe announced a strategic tie-up with leading Wallet player FreeCharge to enable over 45 million users to link their existing FreeCharge Wallets to the PhonePe app.
Details about PhonePe-FreeCharge tie-up:
i. Owing to this tie-up, PhonePe customers will be able to utilise their FreeCharge wallet balance for all online and offline transactions.
ii. This will make PhonePe, India’s first open payments platform, through which customers can use any and all payment instruments for executing transactions.
iii. PhonePe is currently accepted at more than 60 thousand online and offline merchants.
Quick Facts about Flipkart:
♦ Founded in – 2007
♦ Headquarters – Bengaluru, Karnataka
♦ Founders – Sachin Bansal, Binny Bansal
Gujarat tops logistics performance index chart
Gujarat has topped Logistics Ease Across Different States (LEADS) index. Report related to this index was released by Union Commerce and Industry Minister, Suresh Prabhu at the third meeting of Council for Trade Development and Promotion on January 8, 2018.
LEADS Index Rankings:
i. LEADS Index is a perception-based index of mobility of goods and efficiency of logistics chain. It has been jointly developed by Union Commerce and Industry Ministry along with Deloitte.Â
ii. The index is based on various indicators such as infrastructure, safety of cargo, timeliness and service quality in the sector.
iii. On LEADS Index rankings, Gujarat is closely followed by Punjab and Andhra Pradesh. Among Union Territories, Daman & Diu occupied topped the index followed by Delhi and Chandigarh.
Quick Facts about Gujarat:
♦ Capital – Gandhinagar
♦ Current Governor – Om Prakash Kohli
♦ Current Chief Minister – Vijay Rupani
♦ Important National Park – Gir National Park
AWARDS & RECOGNITIONS
RS Puram police station in Tamil Nadu ranks India’s best police station
R.S. Puram Police station in Coimbatore, Tamil Nadu has been adjudged as the best police station in India in SMART Police Stations initiative of Union Ministry of Home Affairs (MHA).
SMART Police Stations in India:
i. R.S. Puram Police Station House Officer T. Jothi, received the award from Union Home Minister Rajnath Singh on January 6, 2018 at the all India conference of Director General/Inspector General of Police held at BSF Academy Tekanpur in Madhya Pradesh.
ii. Abbreviation SMART in SMART Police stands for S-Sensitive and Strict; M-Modern with mobility; A- Alert and Accountable; R- Reliable and Responsive; T- Trained and Techno-savvy.
iii. SMART Police concept was announced by Prime Minister Narendra Modi at the 49th annual conference of Director General/Inspector General held in Guwahati in November, 2014.
iv. Under this concept, police station jurisdictions are assessed on various parameters including rate of crime detection, recovery of properties, execution of warrants, enforcement of local laws and special acts etc.
v. Besides, MHA has recommended several features at the police station itself, which includes, waiting area, basic amenities for visitors, drinking water, toilets, separate room for women constables, ventilation etc.
Actor Soumitra presented “Legion of Honour” award
On 30th January 2018, the French government will present the “Legion of Honour” award to actor Soumitra Chatterjee, at the 42nd International Kolkata Book Fair.
Soumitra Chatterjee – “Legion of Honour” award:
i. “Legion of Honour” award is considered as the highest order of merit in France. The award will be presented by French culture minister Francoise Nyssen.
ii. Theme country for the International Kolkata Book Fair 2018 is France. Also, the Hindi version of the famous Asterix comic books will be launched at the fair.
iii .Several countries are expected to participate in the International Kolkata Book Fair 2018. This is considered as the largest book fair in the world in terms of participants.
About International Kolkata Book Fair 2018:
♦ Dates –Â 31 January – 11 February 2018
♦ Location – SaltLake Central Park Mela Ground, Kolkata
♦ Book Fair general secretary – Tridib Chatterjee
India’s first all-women station in Mumbai enters Limca Book of Records
On 9th January 2018, the Matunga suburban station of Mumbai on the Central Railway (CR) appeared in the Limca Book of Records for comprising all-woman staff.
Matunga suburban station – Limca Book of Records:
i. Matunga suburban station became the first railway station in India to be operated by an all-woman staff in July 2017.
ii. The Matunga suburban station is operated exclusively by women staff from July 2017. A total of 41 women staff are working at the station.
iii. This includes personnel from the RPF, commercial and operating departments. Station manager of Matunga suburban station is Mamta Kulkarni.
About Railway Protection Force (RPF):
♦ Director General – Dharmendra Kumar
♦ Headquarters – New Delhi
♦ Motto – Service and Loyalty
APPOINTMENTS & RESIGNS
NPCI appoints Dilip Asbe as new MD and CEO
Dilip Asbe has been appointed as Managing Director (MD) and CEO of National Payments Corporation of India (NPCI). 
Dilip Asbe’s association with NPCI:
i. NPCI is the umbrella organisation for all retail payment systems in India.
ii. Prior to being appointed as MD & CEO, Dilip Asbe was CEO-in-charge of NPCI. He was appointed as CEO-in- in August 2017.
iii. Dilip Asbe has been working in NPCI since its inception. He has played instrumental role in designing, building, operationalising and managing NPCI’s large-scale payment processing platforms like the Bharat Interface for Money (BHIM), Unified Payments Interface (UPI), Immediate Payment Service (IMPS) and RuPay network.
Quick Facts about NPCI:
♦ Founded in – 2008
♦ Headquarters – Mumbai, Maharashtra
Karen Bradley named new Northern Ireland secretary
Karen Bradley has been appointed as the new secretary of state for Northern Ireland.
Karen Bradley – Northern Ireland secretary:
i. Karen Bradley replaces James Brokenshire as Northern Ireland secretary. This appointment was made by Theresa May, UK Prime Minister, as a part of cabinet reshuffle.
ii. James Brokenshire stepped down from his role as Northern Ireland secretary due to health reasons.
iii. James Brokenshire was appointed Northern Ireland secretary in July 2016. Karen Bradley is 47 years old. Earlier she was the culture secretary.
iv .She has been serving as MP for Staffordshire Moorlands since 2010. She became Home Office minister in 2014.
About House of Commons of the United Kingdom:
♦ Lower house of the Parliament of the United Kingdom
♦ Speaker – John Bercow
♦ Leader of the Commons – Andrea Leadsom
A R Rahman named brand ambassador of Sikkim
AR Rahman has been made the brand ambassador of Sikkim.
AR Rahman – brand ambassador of Sikkim:
i. AR Rahman’s role as brand ambassador will be conducting campaigns for Sikkim to draw tourists and businesses. He will also brand Sikkim on international platforms.
ii. His appointment as brand ambassador was made at the inauguration ceremony of Red Panda Winter Festival at Paljor Stadium in Gangtok, Sikkim.
Some wild life sanctuaries of Sikkim:
♦ Fambong Lho Wildlife Sanctuary
♦ Kyongnosla Alpine Sanctuary
♦ Maenam Wildlife Sanctuary
SR Mardi appointed as DGP of Himachal Pradesh
Sita Ram Mardi has been appointed as the new Director General of Police (DGP) of Himachal Pradesh.
Sita Ram Mardi – DGP of Himachal Pradesh:
i. Sita Ram Mardi is an IPS officer of 1986 batch. He replaces Sanjay Kumar. Sanjay Kumar is a 1985 batch officer. He took charge as DGP in 2014.
ii. Sita Ram Mardi was already a DGP-rank officer. He has been in charge of Homeguards and fire services.
iii. He had also worked in the CID and vigilance department. He has also held SP (Superintendent of police) position in Shimla.
About Crime Investigation Department (CID):
♦ Branches – CB- CID, Anti-Human Trafficking & Missing Persons Cell, Anti-Narcotics Cell, Finger Print Bureau, CID, Anti-Terrorism wing
♦ Formed – 1902
Rajesh Ranjan appointed as the High Commissioner of India to Botswana
On 2nd January 2018, Rajesh Ranjan was appointed as the next High Commissioner of India to Botswana.
Rajesh Ranjan – High Commissioner of India to Botswana:
i. Rajesh Ranjan is an Indian Foreign Service Officer (IFS) of 2001 batch. Currently, he holds the Director position in the Ministry of External Affairs.
ii. He has been appointed as the next High Commissioner of India to Botswana. He will take charge as High Commissioner of India to Botswana soon.
High Commissioner of India to various countries:
♦ Bhutan – Jaideep Sarkar
♦ Germany – Mukta Tomar
♦ Ivory Coast – R. Ravindra
♦ Russia – Pankaj Saran
Telugu filmstar Allu Arjun appointed Frooti brand ambassador
Parle Agro has named Allu Arjun, Telegu actor, as brand ambassador for its key brand Frooti.
Allu Arjun – Frooti brand ambassador:
i. Allu Arjun has been made the brand ambassador of Frooti, as a part of Parle Agro’s expansion strategy.
ii. A new campaign featuring Allu Arjun will be released in the summer of 2018. It is led by a region-specific film in south India.
iii .It will be conceptualised along with Sagmesiter & Walsh (S&W). Sagmesiter & Walsh (S&W) is the creative partner of Parle Agro.
About Parle Agro:
♦ Chairman & MD – Shaunak Chauhan
♦ CEO – Schauna Chauhan
♦ Headquarters – Mumbai
SCIENCE & TECHNOLOGY
Government completes 1st phase of BharatNet project
Central Government has announced that under Phase-I of BharatNet Project, one lakh gram panchayats have been provided with hi-speed broadband connectivity.
BharatNet Project:
i. BharatNet Project, formerly known as National Optical Fibre Network (NOFN) was launched by Central Government in October, 2011 with an aim to deploy high-speed optical fibre cables across rural areas of India.
ii. Its ultimate goal is to provide broadband connectivity to all 2.5 Lakh Gram Panchayats in India.
iii. With the completion of Phase-I, Telecom Secretary Aruna Sundararajan has stated that Government has already started work on Phase-II, under which, broadband connectivity will be provided to another to 1.5 lakh gram panchayats.
iv. Ms. Sundararajan also stated that Phase-II will be completed by December 2018. Original timeline for completion of Phase-II is March 2019.
Pratyush, India’s Fastest Supercomputer, established at Pune’s IITM
On January 8, 2018, Union Minister for Science and Technology, Harsh Vardhan inaugurated ‘Pratyush’, India’s fastest ‘multi-petaflops’ supercomputer. Petaflops is a measure of a computer’s processing speed.
About ‘Pratyush’:
i. This High Performance Computing (HPC) facility has been established at the Indian Institute of Tropical Meteorology (IITM), Pune.
ii. It will be used for improving weather and climate forecasts. It is expected to provide better forecasts in terms of monsoon, tsunamis, earthquakes, cyclones, air quality, flood and drought conditions.
iii. ’Pratyush’ will be used in coordination with the Indian Meterological Department (IMD) and other weather monitoring institutes.
iv. This is India’s second HPC unit. India’s first HPC has been installed at National Centre for Medium Range Weather Forecasting (NCMRWF), Noida, to assist weather agencies in providing daily forecasts.
v. ’Pratyush’ is the fourth fastest supercomputer (after Japan, US and UK) in the world dedicated for weather and climate research.
SPORTS
Aditya Mehta wins Kolkata Open 2018 International Invitation Snooker Championship
On 8th January 2018, Aditya Mehta won the Kolkata Open 2018 International Invitation Snooker Championship at the Hindustan Club, in Kolkata.
Aditya Mehta – Kolkata Open 2018 International Invitation Snooker Championship title:
i. India’s Aditya Mehta defeated England’s Alfie Burden 5-4 in the finals of Kolkata Open 2018 International Invitation Snooker Championship.
ii. Aditya Mehta has won the Kolkata Open title for the third time. Earlier he defeated Laxman Rawat 5-2 and Brijesh Damani 5-4 in the semi-finals.
About World Professional Billiards and Snooker Association:
♦ Headquarters – Bristol, United Kingdom
♦ President – Jason Ferguson
BCCI bans all-rounder Yusuf Pathan for five months after failed dope test
Board of Control for Cricket in India (BCCI) has suspended cricketer Yusuf Pathan for five months for failing a dope test.
BCCI bans Yusuf Pathan:
i. Yusuf Pathan has received a five-month ban for doping violation. But he is allowed to play from 15 January 2018 as the ban was backdated to August.
ii. Yusuf Pathan has been charged with commission of an Anti-Doping Rule Violation (ADRV) under the BCCI Anti-Doping Rules (ADR) Article 2.1.
iii. The sample collected from him during a domestic T20 competition on 16 March 2017, in New Delhi, contained Terbutaline. Terbutaline is banned both in and out of Competition in the WADA (World Anti-Doping Agency) Prohibited List of Substances.
About WADA (World Anti-Doping Agency):
♦ Headquarters – Montreal, Canada
♦ President – Craig Reedie
OBITUARY
Kapil Mohan, Man behind Old Monk, dies at 88
On 6th January 2018, Kapil Mohan, chairman of Mohan Meakin Ltd, which makes ‘Old Monk’ rum, passed away due to cardiac arrest, at his home, in Ghaziabad, Uttar Pradesh.
Death of Kapil Mohan:
i. Kapil Mohan was 88 years old. The Old Monk rum was launched in 1954. Old Monk was considered as the largest selling dark rum in the world for a long time.
ii. Also, it was the biggest Indian Made Foreign Liquor brand for a long time. Mohan Meakin Ltd produces Old Monk rum and few other beverages.
About Mohan Meakin Ltd:
♦ Headquarters – Ghaziabad, Uttar Pradesh
♦ Products – Alcoholic beverages, Non-Alcoholic Beverages, Vinegars, Cereals, Glass Bottles, Malt Extract
IMPORTANT DAYS
Pravasi Bharatiya Divas – January 9, 2018
Every year, India celebrates Pravasi Bharatiya Divas (PBD) on January 9 to mark the contribution of overseas Indian community in development of India.
i. On January 6, 2018, Union Minister of Road Transport & Highways, Shipping and Water Resources, River Development & Ganga Rejuvenation, Nitin Gadkari inaugurated ASEAN India Pravasi Bharatiya Divas in Singapore.
ii. Prime Minister Narendra Modi inaugurated the first Persons of Indian Origin (PIO) Parliamentary Conference at the Pravasi Bharatiya Kendra in Delhi………………………………………………………Click here to Read more
