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2016 World Economic Forum (WEF) India Economic Summit held in New Delhi
i. The India Economic Summit of the World Economic Forum (WEF) was held in partnership with the Confederation of Indian Industry in New Delhi, will provide a strategic platform for the WEF’s global multi-stakeholder community to discuss and debate the theme Fostering an Inclusive India through Digital
ii. The summit will address key issues of national and regional importance under three thematic pillars: Mastering the Fourth Industrial Revolution, Driving Sustainable and Equitable Growth and, Improving the Ease of Doing Business.
iii. More than 600 participants from business, public sector, science, arts, civil society, media and international organizations spanning 30 countries are participating.
iv. India will be represented by key public figures including Union ministers Jayant Sinha, Nirmala Sitharaman, Nitin Gadkari, Smriti Irani and Suresh Prabhu.
India’s first diamond mineral block auctioned in MP
i. Madhya Pradesh’s diamond mineral block had been auctioned. The block was believed to have a precious stone deposit worth Rs 106 crore .This is the first diamond mineral block of the country which has gone under the hammer.
ii. Hatupur Diamond mineral block was successfully auctioned at Panna district in the Madhya Pradesh..
iii. Bansal Construction Works emerged as the preferred bidder by submitting the highest final price offer after two rounds of competitive bidding. Three other companies- Rungta Mines Ltd, Thriveni Earthmovers Ltd and Pushpanjali Tradevin Pvt Ltd– were also in competition for the block.
iv. The block located is presently under G3 category and is spread over an area of 133.50 Ha. It has 0.604 MT of inferred resources with diamond incidence of 10.20 carat/100 tonnes.
Madhya Pradesh National Park :
Kanha National Park, Van Vihar National Park, Sanjay National Park, Pench National Park and Satpura National Park
Prakash Javadekar inaugurated Shatabdi Krishi Bhawan, Green Building in BHU
i. The Union Minister of Human Resource and Development, Prakash Javadekar inaugurated the Green building and Shatabdi Krishi Bhawan at Banaras Hindu University (BHU) in the wake of holding a review meeting VCs of Central Universities.
ii. The Shatabdi Krishi Bhawan under the Institute of Agricultural Sciences, BHU had been so named to commemorate the Centenary year of University.
iii. The University’s first green building under the Institute of Environment and Sustainable Development was dedicated to Pandit Madan Mohan Malviya and his vision of green campus.
iv. Giving example of great universities like Nalanda, Takshila and Vikramshila, Javadekar reported that Only those nations that had great universities would prosper
Maharashtra became 17th State to join UDAY: an overall net benefit of Rs. 9725 crores to accrue to the State
i. Maharashtra had become the 17th state to join the UDAY scheme, meant for financial turnaround of debt-laden power distribution utilities, and it would help the state save around Rs.9,725 crore on account of cheaper funds and cut in AT&C losses.
ii. Government of India signed a Memorandum of Understanding (MOU) with Government of Maharashtra and Maharashtra State Electricity Distribution Co. Ltd. (MSEDCL) under the Ujwal DISCOM Assurance Yojana (UDAY) at the two-day State Power Ministers Conference in Vadodara.
iii. The combined DISCOM debt, including Central PSU dues, that would be restructured in respect of these states is around Rs.2.57 lakh crores, which is around 68 per cent of the total outstanding DISCOM debt as on 30th September, 2015.
iv. Under UDAY, Maharashtra Government has committed to take over 75 per cent of DISCOM’s non-capex debt of around Rs.6600 crores during the current year. Balance 25 per cent of such debt remaining with the DISCOM would be converted into Bonds or repriced at cheaper rates. This would reduce the interest burden of the State/DISCOM by Rs.595 crores.
Maharashtra National Park:
Chandoli National Park, Sanjay Gandhi National Park, Negaon National Park and Tadoba National Park
New Solar Powered Guard Van of Goods Train flagged off
i. Union Minister for Railways Suresh Prabhu flagging-off the first freight train which featured a newly-developed guard van, which uses solar power to run fans and lights at Delhi Safdarjung Railway Station.
ii. The Guard’s toilet has also been modified to a zero discharge bio toilet and also features GPRS (General Packet Radio Services) -aided monitoring system.
iii. It will help in reducing the carbon footprint of the railways.
iv. The Guard vans also called as 8 wheeled Brake Vans Z- frame Improved BVZI. It is modified by IROAF with the assistance of Amritsar Workshop of Northern Railway .
20th ASEAN Regional Forum– Heads of Defence Universities / Colleges / Institutions Meet held in New Delhi
i. The 20th ASEAN Regional Forum (ARF) – Heads of Defence Universities / Colleges / Institutions Meet (HDUCIM) held in New Delhi.The meeting was hosted by the National Defence College (NDC), New Delhi under the aegis of Ministry of Defence.
ii. The meeting was end with a clear commitment to contribute towards promotion and maintenance of peace and prosperity in the region and the world at large through collective efforts to counter non-conventional threats and violent terrorism in the South East Asia Region.
iii. The next ARF meet to be held in Manila in 2017. It will host by National Defence College of Philippines.
Indian pharmaceutical companies ranked 19th in the Biopharmaceutical Competitiveness & Investment (BCI) Survey
i. Indian pharmaceutical companies have ranked at the bottom position in the recently conducted 2016 Biopharmaceutical Competitiveness & Investment (BCI) Survey. India has been ranked No. 19 in a 28-nation survey of biomedical investment attractiveness of countries, with an overall score of 59 out of 100.
ii. The US, UK and Switzerland lead, with the US at No. 1 with a score of 86.
iii. The ranking is part of the third edition of the Biopharmaceutical Competitiveness Survey (BCI) commissioned by the Pharmaceutical Research and Manufacturers of America and executed by the Pugatch Consilium.
iv. It looks at biomedical innovation and its influencers, like intellectual property protection for investments in the sector.
BANKING & FINANCE
RBI panel moots easing bank branch norms
The Reserve Bank of India (RBI)released the Report of the Internal Working Group (IWG) on Rationalisation of Branch Authorisation Policy. The Group is chaired by Lily Vadera, Chief General Manager, Department of Banking Regulation.
Recommendations of the Internal Working Group (IWG)
i. In the first phase, the recommendations focus on broadening of the current framework to include all banking outlets which are fixed point locations and bring them on par with branches.
ii. A banking outlet is defined as a fixed point service are provided for minimum 4 hours per day for at least five days a week.
ii. Banks need to open banking outlets to meet the 25 percent norms of opening banking outlets in unbanked rural centres that does not have a CBS-enabled banking outlet of a Scheduled Commercial Bank.
iii. A banking outlet opened in North-Eastern States, Sikkim and in Left-Wing Extremism Affected Districts will be treated as a banking outlet/part-time banking outlet in an unbanked rural centre.
iv. The Boards of the banks should set internal financial inclusion targets
v. In the second phase, a new data system will be devised which is capable of capturing the locations and transactions carried out by all banking outlets.
India seek greater Pharma market access in Japan
i. Indian pharmaceuticals sector seeked major support from the Japanese market, Commerce Minister Nirmala Sitharaman announced that the share of India in the Japanese drug market.The demand for generic medicines in Japan and India’s capability to meet this demand can prove a win-win for both countries
ii.India’s strength in pharma sector is well firmed. Share of India in the Japanese drug market continued to be below par and limited mostly to active pharmaceutical ingredients (or APIs – raw materials for drugs)
iii. Indian companies should use the India-Japan Comprehensive Economic Partnership Agreement (CEPA) much more to boost exports to Japan.Japan is one of the closest and most reliable trading partners of India. Both countries bilateral ties were elevated to status of special strategic and global partnership during Prime Minister Narendra Modi visit to Japan in 2014.
iv .The CEPA between both countries is one of the most comprehensive agreements concluded by India and it had come into force in August, 2011
♦ Capital: Tokyo
♦ Currency: Japanese yen
♦ Prime minister: Shinzō Abe
Spectrum auction concluded, Centre garners Rs.65,789 cr.
i. India’s biggest-ever spectrum auction ended with the Centre garnering Rs.65,789 crore in revenue. An upfront payment of Rs.32,000 to be received by the government in the current year is the highest in four years. Still the figure fell short of the budgetary target of Rs.64,000 crore for the current financial year.
ii. Of the 2,355 megahertz (MHz) of spectrum, worth Rs.5.6 lakh crore across seven bands provide for bids, 965 MHz, or about 40 per cent, got sold. No spectrum was sold in the premium 700 MHz band due to a high reserve price.There were no takers for the 900 Mhz band as well.
iii.It was a successful auction and a big achievement and for some spectrum bands, telcos did not have the ecosystem was announced by Manoj Sinha, Telecom Minister
iv. India’s biggest telecom operator Bharti Airtel acquired 173.8 MHz spectrum across 1800, 2100 and 2300 MHz bands for a total consideration of Rs.14,244 crore, while Idea Cellularspent Rs.12,798 crore to acquire 349.2 MHz.Reliance Jio bought 269.2 MHz of spectrum in the 800 MHz, 1800 MHz and the 2300 MHz bands for Rs.13,672 crore.
Indian biosimilars market may reach USD 40 bn by 2030: Report
‘Assocham-Sathguru‘ report was released by Prof D Swaminadhan, President and Director General, Jawaharlal Nehru Institute of Advanced Studies (JNIAS) at Assocham-Department of Pharmaceuticals Conference on BioPharma in Hyderabad.
Highlights of the report :
i. Indian biosimilars industry was close to $300 million and Domestic sales are
close to $250 million growing at CAGR of 14 per cent in 2015.
ii. The biosimilars opportunity is nascent today and the 2016 estimated market size was only $2.2 billion.
iii. Based on the analysis of the currently approved biologic drugs, clinical pipeline and expectations around price erosion and market penetration,the global market for biosimilars will be $240 billion by 2030 in the optimistic scenario and the Indian domestic market could be about $40 billion.
AWARDS & RECOGNITIONS
Nobel Peace Prize 2016 for Colombian President Juan Manuel Santos
i. The Norwegian Nobel Committee has decided to award the Nobel Peace Prize for 2016 to Colombian President Juan Manuel Santos for his resolute efforts to bring the country’s more than 50-year-long civil war to an end, a war that has cost the lives of at least 220 000 Colombians and displaced close to six million people.
ii. Juan Manuel Santos Calderón is the 32nd and current President of Colombia and sole recipient of the 2016 Nobel Peace Prize.
iii. An economist by profession and a journalist by trade, Santos is a member of the wealthy and influential Santos family, who from 1913 to 2007 were the majority shareholders of the newspaper El Tiempo until its sale to Planeta De Agostini in 2007.
Indian-origin South African AB Moosa awarded prestigious Paul Harris Award in SA
i. An Indian-origin South African businessman AB Moosa has been honoured with a prestigious award by an international humanitarian organisation in recognition of his charitable work.
ii. Mr.Moosa is the third-generation CEO of the Avalon Group and CineCentre Cinemas, South Africa’s oldest and largest independent cinema exhibition which first brought Indian films to South African cinemas in the 1920’s.
iii. The prestigious Paul Harris Fellow Recognition Award from the charitable organisation Rotary International was presented in recognition of Moosa’s ongoing and long-standing support of Rotary and his commitment to its initiatives.
About Paul Harris Award:
Paul Harris, a lawyer, founded Rotary International in 1905 and previous recipients of this award include the likes of former SA President, Nelson Mandela, Archbishop Desmond Tutu, Public Protector Thuli Madonsela as well as Raymond Ackerman for outstanding community service.
APPOINTMENTS & RESIGNS
Justice Mohanty Appointed Acting CJ Of Jharkhand HC
i. Justice Pradip Kumar Mohanty was appointed as the acting chief justice of the Jharkhand High Court. He will replace Justice Virendra Singh who retired on October 6 2016.
ii. Now Justice Mohanty assumes charge as acting chief justice of Andhra Pradesh/ Telangana, Madhya Pradesh and Jharkhand high courts.
Betla National Park, Hazaribag National Park, Dalma Wildlife Sanctuary and Bhagawan Birsa Biological Park
B.V.R Mohan Reddy appointed honorary consul of Germany
i. Germany has appointed former Nasscom Chairman B V R Mohan Reddy as an Honourary Consul of that country in Hyderabad.
ii. Mohan Reddy will be the Consul for Germany in Telangana and Hyderabad.
iii. According to Mr.Reddy, who is also the Executive Chairman of Cyient Ltd, there was a need for collaboration between the two countries in science and technology and in vocational training.
iv. German Ambassador to India, Dr. Martin Ney greeted Mr. Reddy on his appointment as the Honorary Consul of the Federal Republic of Germany.
♦ Capital: Berlin
♦ Currency: Euro
♦ President: Joachim Gauck
Rajeev Rishi elected IBA Chairman for 2016-17
i. Rajeev Rishi was elected as the Chairman of the Indian Banks’ Association (IBA) for the financial year 2016-17 at IBA meeting held in Mumbai on October 7 2016.
ii. Presently he was working as the CMD of Central Bank of India.He will replace Ashwani Kumar
iii. Other Appointments:
SBI chief Arundhati Bhattacharya, ICICI Bank Managing Director & CEO Chanda Kochhar and Union Bank Chairman and Managing Director Arun Tiwari were elected Deputy Chairpersons of IBA for the current fiscal.
Indian Banks’ Association (IBA) :
♦ Indian Banks’ Association, formed on 26 September 1946 as a representative body of management of banking in India.
♦ Headquarters : Mumbai
SICCI appoints Rafeeque Ahmed as President
i. The Chairman of the Farida Group of Companies M Rafeeque Ahmed was elected as the President and Trigyn Technologies Chairman R Ganapathi and Valingro Group Chairman Rm Arun were elected Vice Presidents of South India Chamber of Commerce and Industry(SICCI) at the 106th Annual General Meeting held in Chennai.
ii. Rafeeque was honoured with Padma Shri for his achievements in trade and commerce in 2011
iii. Currently he is working as the heads the Council for Leather Exports and also the All India Skin and Hide Tanners and Merchants Association as President.
♦ Southern Indian Chamber of Commerce and Industry(SICCI) is a non-government formed to work for the development of industries in South India. It is one of the founder-members of the Federation of Indian Chambers of Commerce and Industry (FICCI)
♦ South Indian politician Sir P. Theagaraya Chetty was its first President
SCIENCE & TECHNOLOGY
Smallest Transistor Ever Developed in US
i. Researchers, including one of Indian-origin, have developed the smallest transistor reported to date, breaking a major size barrier with a gate only one nanometre long.
ii.The laws of physics had set a 5-nanometre threshold on the size of transistor gates among conventional semiconductors, about one-quarter the size of high-end 20-nanometre-gate transistors now on the market.
iii.The research team led by Ali Javey from Lawrence Berkeley National Laboratory (Berkeley Lab) in the US created the new transistor with a working one-nanometre gate. For comparison, a strand of human hair is about 50,000 nanometres thick.
iv. The key was to use carbon nanotubes and molybdenum disulfide (MoS2), an engine lubricant commonly sold in auto parts shops.
v . The semiconductor industry had long assumed that any gate below 5 nanometres wouldn’t work, so anything below that was not even considered reported that the study lead author Sujay Desai, a graduate student in Javey’s lab.
Scientists announced discovery of largest dinosaur ever found in Brazil
i. Brazilian scientists announced the discovery largest dinosaurever found in South America’s biggest country.Researchers announced their discovery after analysing fossilised bones of the giant, long-necked herbivore, which faded in a storage cupboard for 60 years.
ii. Director of Rio de Janeiro’s Earth Sciences Museum, Diogenes Campos named the 25-meter-long dinosaur “Austroposeidon magnificus. Titanosaur group of herbivores had large bodies, long necks and tails and relatively small skulls..
iii. He explained that the titanosaur was about 20 to 26 feet (6 to 8 metres) tall and lived in what is now Brazil some 70 million years ago.Fossils of the dinosaur’s neck and spinal vertebrae were found near the city of Presidente Prudente in Sao Paulo state in the 1950s.
iv. But the paeleontologist who discovered them, Llewellyn Ivor Price, died in 1980 without being acknowledged for the discovery.
♦ Capital: Brasília
♦ Currency: Brazilian real
♦ President: Michel Temer
15-year-old Indian girl won U-16 World Chess Championship
i. Aakanksha Hagawane scripted her name in the history books when she won the girls’ under-16 title in the World Youth Chess Championships in Khanty-Mansiysk, Russia. She added her name to an exclusive list of Indians to win a World Chess Championship title.
ii. Viswanathan Anand, PentalaH arikrishna, Koneru Humpy, Abhijeet Gupta, Soumya Swaminathan, Dronavalli Harika, B Adhiban, SP Sethuraman had all won world titles in age group and junior (U-21) competitions.
iii.The 15-year-old Aakanksha, daughter of a wholesale vegetable seller from Pune, topped the girls’ U-16 section by bagging nine points from 11 games, finishing half-point ahead of MobinaAlinasab of Iran and Polina Shivalova of Russia — the Iranian girl taking silver ahead of the Russian on tiebreak.
iv. Aakanksha sealed the title by defeating Alicja Sliwicka of Poland with white pieces in the 11th and final round. Going into the final round, Aakanksha was tied on eight points with Dutch girl Anna-Maja Kazarian, but the latter lost to Iranian Mobina Alinasab, finishing fourth overall.
v. Aakanksha’s was the lone medal for India in the World Youth Chess Championship, Khanty-Mansiysk .In girls’ U-16, compatriot K Priyanka finished 8th with seven points. Among those who missed the medal was former girls’ U-16 World Champion M Mahalakshmi, who finished 11th in the under-18 category.
Manipur theatre legend Kanhailal passes away
i. Theater legend and Padma Bhusan awardee Heisnam Kanhailal passed away in Manipur. He was 75.
ii. He was the founder-director of Kalakshetra, the theatre laboratory in Manipur.He has been worked with the noted theatre director and playwright Badal Sirkar.
iii. He conducted experiments to locate theatre in the people of different strata.
BOOKS & AUTHORS
Former Central Information Commissioner Shailesh Gandhi authors e-book on RTI
i. Former CIC Shailesh Gandhi has authored an e-book in order to provide a better interpretation of the Right To Information legislation for common people.
ii. The 81-page e-book named ‘RTI Act- Authentic Interpretation of The Statute’ has been uploaded on www.Satyamevajayate.info
iii. This e-book and can be downloaded for free and the link can also be shared on social media.
iv. The book is co-authored by Pralhad Kachare, a bureaucrat who earlier headed Yashwantrao Chavan Academy of Development Administration (YASHADA) in Pune and trained many officers in the field of RTI.
v. The print version of the e-book will hit the stands in the next few months. At the end of the book, authors have launched an RTI competition where readers can participate by sending entries by e-mail to [email protected] and can win a prize of Rs 25,000 without an entry fee or registration.