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Current Affairs Today – November 7 2016

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CAT NovemberINDIAN AFFAIRS

PM Modi to become the mascot for Incredible India
i. Prime Minister Narendra Modi is set to be the mascot of ‘Incredible India’ campaign with the tourism ministry finally deciding to do away with plans to rope in any Bollywood stars, including Amitabh Bachchan, for the role which was lying vacant after ouster of Aamir Khan earlier this year.
ii. Incredible India is the name of an international marketing campaign by the Government of India to promote tourism in India in 2002 to an audience of global appeal.
iii. Incredible India title was officially branded and promoted by Amitabh Kant, then the Joint Secretary under the Union Ministry of Tourism, in 2002.

Global Conference on Tobacco Control held at Greater Noida
i. India host the important global tobacco control conference for the first time, where it will push for include smokeless tobacco as an agenda.
ii. The Seventh Session of the Conference of Parties (COP7) to World Health Organisation (WHO) Framework Convention on Tobacco Control (FCTC) to be held at Greater Noida.
iii. Sri Lankan President Maithripala Sirisena would be the special invited speaker at the conference, which would be inaugurated by Union Health Minister J P Nadda.
iv. The Sri Lankan President, who served as the Minister of Health during the previous government, is a strong advocate of tobacco control and successfully implemented laws to display pictorial warnings up to 80 percent on both sides of cigarette packets.
v. India has provided a leadership role in the negotiations of FCTC and has also served as the regional coordinator for the South-East Asia Region.
vi. India ratified the treaty on February 27, 2005 and is obligated to comply with the treaty provisions and its guidelines to reduce tobacco consumption globally.

E-Court software launched by Home Minister to enable speedy disposal of Appeals/Complaints
i. E-Court software launched by Home Minister to do speedy disposal of Appeals/Complaints. Union Home Minister Rajnath Singh launched ‘e-Court Software‘ to enable speedy disposal of Appeals/Complaints by using digital technology at the 2-day 11th Annual Convention of Central Information Commission (CIC) in New Delhi.-day 11th Annual Convention of Central Information Commission (CIC) .
iii. The system would allow online filing of appeals/complaints and case transfer using latest technology. It would generate a unique number which can be used by the applicant for tracking the status of a case filed with the Commission.
iv. Alerts will also be produced to inform the applicant at the stage of Registration, issue of Facilitation Memo, scheduling of the case hearing and also at the stage of decision uploading.
v. The system will provide an online search facility which allows a user to search for Dak, File, Hearing Notice and Decision,etc. On the occasion of 2-day 11th Annual Convention of Central Information Commission (CIC)  he added Right to Information (RTI) Act is a powerful medium of two-way communication between the citizens and the government.
vi. The Home Minister also released a book on RTI success stories. The book has been prepared for the Commission by Yashwantrao Chavan Academy of Development Administration.

India, Britain signed MoUs on IPR, ease of doing business
i. India and Britain signed memoranda of understanding (MoUs) on intellectual property rights (IPR) and ease of doing business following delegation-level talks led by Prime Ministers Narendra Modi and Theresa May.
ii. Both the MoUs were exchanged in the presence of Prime Ministers Narendra Modi and her British side Theresa May here.It is intended to promote innovation, creativity and economic growth in both countries.
iii. It established a broad and flexible framework through which both countries can exchange best practices and work together on training programmes and technical exchanges get bigger awareness on IPRs and better protect intellectual property rights.
Britain :
♦ Capital: London.
♦ Currency: Pound Sterling.
♦ Prime Minister: Theresa May.

‘Lost’ Chandrabhaga river found in Odisha
i. After the confirmation of  existence of the mythical Saraswati river in India’s North-West, scientists at the Indian Institute of Technology-Kharagpur claim they have found evidence of another ‘lost’ Indian river.
ii. The River Named Chandrabhaga, the ancient river is believed to have existed at a distance of about 2 km from the 13th century Sun Temple at Konark, a Unesco World Heritage Site in Odisha.
iii. Almost all myths regarding Konark, including illustrations and photographs, indicate the presence of the Chandrabhaga river in the proximity of the temple.
iv. According to their report, the satellite imagery and Google Earth image showed a “sinusoidal” trace, characteristic of a typical “palaeo-channel” remains of an inactive river passing north of the Sun Temple extending approximately parallel to the coast.
v. Identification of such a palaeo-channel of Chandrabhaga River may lead to the description of small areas of freshwater zones within a dominantly saline water environment in coastal Odisha. It may even partially help to reduce the chronic drinking water problem along the Odisha coast.

INTERNATIONAL AFFAIRS

India, Sri Lanka agreed to form Joint Working Group on Fisheries to address fishermen issue
i. India and Sri Lanka have consented to prepare a Joint Working Group on Fisheries (JWG) and a hotline between their Coast Guards to speak about the long-standing issue of fishermen from Tamil Nadu being arrested
ii. The decision, taken during talks between External Affairs Minister Sushma Swaraj and Sri Lankan Foreign Minister Mangala Samaraweera in New Delhi, came three days after fishermen of both countries failed to reach an agreement on ending fishing in Sri Lankan waters by Indian fishermen.
iii. The JWG on Fisheries would meet every three months beginning January 2017 while India, Sri Lanka agreed to form Joint Working Group on Fisheries to address fishermen issuethe Ministers of Fisheries on both sides would meet every six months along with Naval representatives and Coast Guard to discuss the protracted issue
Srilanka :
♦ Capital: Sri Jayawardenepura Kotte, Colombo
♦ Currency: Srilankan Rupee
♦ President: Maithiripala Srisena.

BANKING & FINANCE

HCC became first firm to get debt recast under RBI’s S4A Scheme
i. Construction major HCC’s Rs.5,000-crore debt recast has become the first case to get approval from a high-level panel organize under Reserve Bank of India’s new Scheme for Sustainable Structuring of Stressed Assets (S4A).
ii.The RBI-mandated Overseeing Committee (OC) under the S4A has accepted HCC’s Rs.5,000-crore debt recast passed by an ICICI Bank-led joint lender forum in September 2016.
iii.52% of the debt (nearly Rs.2,600 crore) was found to be sustainable and can be serviced as per original terms and conditions, including about interest rate and tenure.
iv.The lenders would buy regularly to 24.44 per cent fresh equity (Rs.1,008 crore, assuming a Rs.40 rate), which would bring down the promoter holding from 36.07 per cent to 27.44 per cent.
v.The RBI had launched S4A scheme to help resolve the corporate debt problem and strengthen the lenders’ ability to deal with stressed assets.

LIC retained its most attractive BFSI brand status
i. Life Insurance Corp., has been the country’s most attractive brand in the banking and financial services segment for the third year.
IRDA approved LIC’s idea to invest in PSB’sii. Another public sector entity, the State Bank of India, saw an improvement of 17 ranks to 48th rank in its overall attractiveness ranking. HDFC got the third position in the BFSI category, and made it to the top 50 Most Attractive Brands list at 49th rank.
iii. The private sector bank, ICICI Bank saw an improvement of 4 ranks from 61st in 2015 to 57th in 2016. Other private banks that made it to the top 10 list include Axis Bank (All India rank of 147), Yes Bank (All India rank of 152), and Kotak Mahindra Bank (All India rank of 267).
iv. LG has taken the national crown of India’s Most Attractive Brand in this 2016 study. The South Korea-based Consumer Electronics giant has taken the 1st rank, moving up from 2nd place last year.

BUSINESS

India rises to second spot on global business optimism index: Report
i. According to the latest Grant Thornton International Business Report, India was ranked second on the optimism index during the third quarter. India improved its ranking by one spot in a global index of business optimism, with policy reforms and Goods and Services tax (GST) expected to become a reality soon.
ii. Top 3: Indonesia, India and The Philippines
iii. The optimism, however, suffered a decline in the last few quarters due to slow growth of core sectors. The level of optimism has been continuously increasing with the second quarter witnessing 85 percent businesses expecting economic recovery. This was followed by 87 percent businesses indicating economic recovery in the third quarter.

DRDO Signs MoU With IIT Delhi to Establish JATC
i. Defence Research & Development Organisation (DRDO) signed a Memorandum of Understanding (MoU) with Indian Institute of Technology (IIT), Delhi to establish a ‘Joint Advanced Technology Centre’ (JATC).
ii. JATC will be located in the campus of IIT Delhi at the upcoming Science and Technology Park (Mini-Science Park ‘MSP’).

Anti-dumping duty on met coke bane to steel industry
i. The Ministry of Commerce had imposed anti-dumping investigation on import of low ash met coke from Australia and China last year. The imposition of anti dumping duty resulted in an increase in the cost of finished steel by Rs.700 to Rs.1500 per tonneAnti-dumping duty on met coke bane to steel industry
ii. Met coke prices have nearly tripled since January 2016, since the time the case was initiated and is currently ruling around $350 per tonne
iii. The Indian Steel Association has asked the government not to impose anti-dumping duty on metallurgical coke (met coke).
Metallurgical coke :
♦ Metallurgical coke is made from low ash, low sulfur bituminous coal, with special coking properties, which is inserted into ovens and heated to 1000F to fuse fixed carbon and inherent ash and drive off most of the volatile matter.

AWARDS & RECOGNITIONS

Pulimurugan – first Malayalam film to enter Rs 100cr club
i. Mohanlal starrer adventure film “Pulimurugan” has become the first Malayalam film to enter the Rs 100 crore club. This movie is made with a budget of Rs 25 crore, deals with man animal conflict with Mohanlal in the lead role of Murugan, a hunter.
ii. Kamalini Mukherjee,Jagapati Babu, Bala and Lal appear in key supporting roles. It is the first independent screenplay written by Udayakrishna of the Udayakrishna-Siby K. Thomas 
iii. The film is produced by Tomichan Mulakupadam through the production house, Mulakupadam Films. The score and soundtrack are composed by Gopi Sunder, while cinematography is handled by Shaji Kumar.
iv. The filming started in Hanoi, Vietnam in July 2015. The film was released on 7 October 2016.

APPOINTMENTS & RESIGNS

RBI appoints M Rajeshwar Rao as new Executive Director
i. The Reserve Bank has appointed M Rajeshwar Rao as Executive Director to look Department of Statistics and Information Management, Financial markets Operations Department and International Department. He will replace G Mahalingam who is retired from the RBI.
ii. Prior to this, Rao was the Chief General Manager, Financial Markets Operations Department.
iii. He joined RBI in 1984 and as career central banker has exposure in various aspects of central bank functioning.
iv. He has previously held charge of the Risk Monitoring Department. He has also worked as the Banking Ombudsman, New Delhi and in the Reserve Bank’s regional offices at Ahmedabad, Hyderabad, Chennai and New Delhi.
RBI :
♦ Governor : Urjit Patel
♦ Headquarters :Mumbai
♦ Founded: April 1, 1935, Kolkata

Praveen Kumar Sharma appointed MD and CEO of CERSAI 
i. The Appointments Committee of Cabinet appointed General Manager of State Bank of CERSAIIndia Praveen Kumar Sharma was appointed as Managing Director and Chief Executive Officer of Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI).
ii. The Appointment order is issued by Department of Personnel and Training , his tenure is three years
CERSAI  :
♦ Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI)is a central online security interest registry of India. It was primarily created to check frauds in lending against equitable mortgages.
♦ Headquarters : New Delhi
♦ Founded March 11, 2011

Ratnesh Kumar appointed as MD & CEO of Bank of Baroda Capital Markets
i. Vadodara based Bank of Baroda has appointed Ratnesh Kumar as managing director and CEO of its BOB Capital Markets by BOB CEO CEO P S Jayakumar
ii. Prior to this ,Kumar has been working as the Mangaing Director of CEO of Standard Chartered Securities India.
iii. He has 23 years of experience in the  key leadership roles.

ACQUISITIONS & MERGERS

Biyani’s Future Retail to acquire Chandrababu Naidu owned Heritage Foods’ retail business 
i. Kishore Biyani’s Future Retail to acquire Chandrababu Naidu owned Heritage Foods’ retail business around Rs 300 crore.
ii. The deal will funded by cash and shares of Future Retail.

ENVIRONMENT

World’s first zero-emissions hydrogen train ‘Coradia iLint’ unveiled in Germany
i. Germany is set to host the world’s first zero-emission, hydrogen passenger train ‘Coradia iLint‘ which will starts its passenger journey from next year.
ii. This train only emits excess steam into the atmosphere, and provides an alternative to the country’s 4,000 diesel cars currently in circulation in Germany
iii. The train operates using a hydrogen fuel tank at the roof of the vehicle, that in turn powers a fuel cell to produce electrical energy, its only emission being steam and World's first zero-emissions hydrogen train 'Coradia iLint' unveiled in Germanycondensed water.
iv. Testing of the train was first presented at Berlin’s InnoTrans trade show in August 2016.
Germany :
♦ Capital: Berlin
♦ Currency : Euro
♦ President: Joachim Gauck

SPORTS

Indian Wushu Team Won 5 Medals In The 8th Sanda World Cup
i. Indian wushu team has won an impressive five medals, including four silver and one bronze, in the eighth Sanda World Cup held at Xian, China.
ii. The event observed participation from 80 best Sanda players of 13th World Wushu Championship 2015. India were represented by five players, according to a Report.
iii. Arjuna Awardee and world silver medalist Y Sanathoi Devi won the silver for India in the final of 52kg category lost to China’s Luan Zhang.
iv. The other silver medallist for India were Uchit Sharma after losing gold medal to Arnel Mandal of Philinpies in the 52kg finals, Suraya BhanuPratap Singh (60kg) and Monika (56kg). Pooja Kadian (75kg) got the lone bronze medal.

2016 BNP Paribas Open – Overview
i. World No. 1 Andy Murray defeating John Isner for men’s single title at the BNP Paribas Masters in Paris.
ii. He claimed his eighth tour-level crown of the year and 43rd in total. He notched a 14th ATP World Tour Masters 1000 title and joins Tim Henman (2003) and Greg Rusedski (1998) as British winners in Paris.
Winner list :

Title Winner Runner
Men’s Single A. Murray J. Isner
Men’s Double H. Kontinen / J. Peers P. Herbert / N. Mahut

Petra Kvitova won 2016 WTA Elite Singles Trophy
i. Czech Republic’s Petra Kvitova November 2016 won the 2016 WTA Elite Singles Trophy. She defeated Ukrainian Elina Svitolina 6-4, 6-2 to grab the title at Zhuhai, China.
petra-kvitova-won-2016-wta-elite-singles-trophyii. Petra Kvitová  was on born 8 March 1990. She is a Czech professional tennis player. Having turned professional in 2006, she is known for her powerful left-handed groundstrokes and variety.
iii. Kvitová has won nineteen career singles titles including two Grand Slam titles at Wimbledon. In addition to that, she is also an Olympic bronze medallist, having won the medal at the 2016 Rio Olympics.
iv. The WTA Elite Trophy is the secondary year-end professional women’s tennis tournament on the WTA Tour. The singles event features 12 players.
v. The players are split into four groups of three, with the group winners gaining to the single elimination semifinals. The doubles championships features six teams in two groups with the group winners contesting the final.

OBITUARY

Former Union minister of state Jayawantiben Mehta passes away
i. Former Union Minister of State and BJP leader Jayawantiben Mehta passed away. She was 88.
ii. She was made the minister of state in the Atal Bihari Vajpayee cabinet in 1999.

Firebrand Odisha Congress leader Lulu Mohapatra dies at 52 
Firebrand Odisha Congress leader dies at 52i. Firebrand Congress leader and former MLA Lalatendu Bidyadhar Mohapatra (Lulu), died of multi-organ failure at a private hospital in Gurgaon.
ii. He was 52. The three-time Congress MLA represented Brahmagiri assembly segment in a row from 1995 to 2009 and was executive president of the Odisha Pradesh Congress Committee (OPCC).

IMPORTANT DAYS

National Cancer Awareness Day – November 7 2016
i. National Cancer Awareness Day was observed on 7th  November every year across India.It was announced by Union Health Minister Harsh Vardhan in September 2014.
ii. India’s largest National Cancer Institute located at AIIMS campus in Jhajjar district, Haryana. The Cancer Institute in Badsa was “independent India’s largest government-funded hospital project”.

128th birth anniversary of CV Raman – November 7 2016
i. The 128th anniversary of Nobel laureate Bharat Ratna Sir CV Raman who discovered Raman Effect is observed on 7th November 2016
ii. He was born on November 7 in the year 1888 at Thiruvanaikaval in Tiruchirapalli Tamil Nadu.
iii. Raman effect: Change in the wavelength of light that occurs when a light beam is deflected by molecules