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President Ram Nath Kovind lays foundation stone for Link-4 of SAUNI Scheme
On 4th September 2017, Mr. Ram Nath Kovind, President of India laid the foundation for Link-4 pipeline canal of SAUNI Scheme at Jasdan in Rajkot district of Gujarat.
i. Saurashtra Narmada Avataran Irrigation (SAUNI) Scheme was conceived by Mr. Narendra Modi when he was the Chief Minister of Gujarat.
ii. This project aims to fill up 115 dams of 11 districts of Saurashtra by overflowing water from Sardar Sarovar Dam on Narmada River by a web of 1126 km long pipeline network.
iii. The unique feature of this project is making pipe canals instead of conventional open canals which leads requires no acquisition of land and involves less water loss.
vii. This project consists of four links:
- Link 1: From Machhu-II dam of Morbi district to Sani Dam of Jamanagar District:Carrying capacity is 1200 cusecs. Thirty reservoirs of Rajkot, Morbi, Devbhoomi Dwarka and Jamanagar Districts will be filled and 2,02,100 acres of area will be benefitted. Length of pipeline is 57.67 km.
- Link 2: From Limbdi Bhogavo-II Dam of Surendranagar District to Raidi Dam of Amreli District: ….Click here to view complete details
First batch of 1000 E-rickshaws flagged off in Gurugram
Shri Nitin Gadkari, Minister for Road Transport and Highways, Shipping and Water Resources, River Development and Ganga Rejuvenation has flagged off a fleet of first batch of 1000 E-rickshaws from Huda City Centre metro station in Gurugram on 3rd of Sept 2017.
i.The E rickshaw fleet is being operated by Treasure Vase Ventures Private Limited in partnership of Delhi Metro, under the SmartE brand name.
ii.E-rickshaw fleet will provide cost effective and pollution free substitute in transport system of Gurugram.
iii.It will also help in generating employment opportunities for marginalised youth.
iv.The E Rickshaws have been manufactured in India and are fitted with GPS and tracking system.
v.SmartE has established strategic partnerships with the Haryana government (HSIIDC) and Delhi Metro Rail Corporation to launch 1000 vehicles in Gurugram and Faridabad in 2017.
vi.The E-rickshaws SmartE will provide self-employment for over 1,00,000 marginalised youths, in next 4-5 years.
Government forms task force for speedy implementation Namami Gange
The Union Ministry of Water Resources, River Development, and Ganga Rejuvenation constituted a task force for speedy implementation of various ongoing Namami Gange program.
i.The task force is expected to have ministers and officials from water resources, urban development, drinking water and sanitation and rural development.
ii.Namami Gange programme is a program of Union Government aiming at integrating various efforts to clean and protect River Ganga.
iii.Namami Gange programme will cover 8 states, 47 towns and 12 rivers under project.
iv.It has budgetary outlay of Rs.20,000 crore to accomplish objectives of effective abatement of pollution and conservation and rejuvenation of River Ganga.
v.Nitin Gadkari replaced Uma Bharti in the ministry allegedly as the Namami Ganga Mission.
Disability pension for defence forces at par with civilians: Government
On 4th September 2017, the government has notified a new set of rules for disability pensions for the armed forcesin New Delhi. The government has accepted the recommendations of National Anomaly Committee (NAC) that disability pension to the defence forces will be granted as per regulations under the 6th Central Pay Commission (CPC) should be maintained.
Introduction of the new scheme for disabled army personnel:
i. The armed forces have been pressing to revert to the percentage-based sytem for the disability pension and were strongly opposing the slab-based system put forth by the 7th CPC.
ii. The Ministry of Defence referred the matter to the National Anomaly Committee (NAC) to decide the methodology for calculation of disability element of disability pension under the 7th CPC.
New scheme for the disabled army personnel:
i.The rules governed by the Sixth Central Pay Commission (6th CPC) instituted in 2006, stated that disability pensions arising from battle injuries, or disabilities attributable to military service, should be calculated on a “percentage basis”, related to the last pay drawn.
ii.Under the 7th CPC scheme, disability pensions will be calculated according to a “slab system” that made the disability pension drawn by civilians greater than the one drawn by their military counterparts…..Click here to view complete details.
Health Ministry launches two new contraceptives
On 5th September 2017, the Ministry of Health and Family Welfare has launched two new contraceptives, an injectible MPA (Medroxyprogesterone Acetate) under the ‘Antara’ programme and contraceptive pill ‘Chhaya’ in New Delhi.
About the new contraceptives:
- The contraceptives are said to be safe and highly effective.
- Antara(injectable) is effective for three months and Chayya (pill) works for one week.
- This will help to meet the changing needs of couples, especially women, to plan and space their pregnancies.
- Training of healthcare practitioners from all the states has been completed also a pool of state and district level doctors and staff nurses have been trained to support the new release.
Availability of the new contraceptives:
- The new contraceptives have been launched inten states — Maharashtra, Uttar Pradesh, Madhya Pradesh, Rajasthan, Karnataka, Haryana, West Bengal, Odisha, Delhi and Goa so far….Click here to view complete details
Yogi Adityanath and Rajnath Singh flagged-off Lucknow Metro
On 5th September 2017, Uttar Pradesh Chief Minister Yogi Adityanath and Union Home Minister Rajnath Singhflaged off the first run of the Lucknow Metro from the Transport Nagar Metro Station in Lucknow.
- Uttar Pradesh Governor Ram Naik was the chief guest of the ceremony.
- Yogi Adityanathdedicated the Lucknow Metro Train Service to Atal Bihari Vajpayee, the former Prime Minister of India.
- Former Chief Minister of Uttar Pradesh Akhilesh Yadav skipped the event. This created a controversy since the plan for Lucknow Metro was formulated during his tenure.
Services of the Lucknow Metro:
- The Lucknow Metro Train will beavailable for people’s use from 6th September 2017.
- The 8.5-km-long ‘Priority Corridor’ from Transport Nagar to Charbagh, which is part of the Phase-1 of the project, will be operational for the public from 6 am to 10 pm everyday.
About Uttar Pradesh
1.Capital – Lucknow
2.Chief Minister – Mr.Yogi Adityanath
3.Governor – Mr.Ram Naik
9th BRICS summit @ Xiamen, China
The ninth BRCIS Summit is held from 3-5 September, 2017 in Xiamen, China. The participating countries are the five member nations – Brazil, Russia, India, China and South Africa. The summit is hosted by China for the second time after the 2011 Summit.
- BRICS is made up of China, Brazil, Russia, India and South Africa.
- The first BRIC Summit was held in Yekaterinburg, Russia. Since then, the Summit has become an annual event. Till date, eight summits have been held.
- 3. In December 2010, China, as the Chair,invited South Africa to join BRIC and attend the Summit in Sanya, China. BRIC expanded to include 5 countries and the acronym changed into BRICS.
- BRICS has become an important platform for cooperation among emerging markets and developing countries.
Logo and Theme of 2017 BRICS Summit:
- The theme of the 2017 BRICS Summit is“BRICS: Stronger Partnership for a Brighter Future”.
- Thelogoof the 2017 BRICS Summit resembles both full sails and a rotating earth, painted in 5 colors representing the 5 BRICS countries. The symbolism is two-fold: BRICS countries breaking the waves in the same boat towards a brighter future; and BRICS playing an important role in the global political and economic affairs. The Logo brings out the theme of the Summit “BRICS: Stronger Partnership for a Brighter Future”, and brims with the distinct marine culture of the host city Xiamen……Click here to view complete details
Nepal enacts law that end practice of banishing women for menstruating
Nepal’s government has enacted a new law which aimed at stopping the practice of forcing a woman who is menstruating, or has just given birth, to sleep outside their home, in a hut or shed.
i.According to the law, any family member who forces a woman to practice “chaupadi” — the Nepali term used for menstrual isolation can be punished with a jail sentence of 3 months or a fine of 3,000 rupees (about $30).
Nepal Parliament endorses laws barring criminals, corrupt from contesting polls
Nepal’s Parliament has endorsed an electoral law for upcoming elections to the federal and provincial council which bars people involved in corruption and criminal offences to stand as candidates.
i.The bill was endorsed by holding three rounds of meetings.
(a)Lawmakers of the ruling Nepali Congress demanded flexibility over the provision but allowed the bill to be presented in Parliament.
(b) Home affairs minister Janardan Sharma, while presenting the bill concerning elections in province.
(c) Federal Councils, briefed Parliament over questions raised about the provisions.
ii.It helps to manage and help the functioning of Parliament and improve the participation and representation.
iii.The new bill includes a candidate, who fights for proportional seat in the House of Representatives should acquire at least 3% of the votes cast to acquire a seat in the Provincial Assembly.
iv.Nepal is set to hold two rounds of provincial and federal elections in November and December 2017.
v.The newly endorsed bill bars a person who faced punishment over aforementioned offences and one spent more than 20 years of imprisonment over various issues.
Cuba begins 5-month political transition
On 5th September 2017, Cuba began a five-month political transition expected to end with Raul Castro’s departure from the Presidency, due to his family’s dominance in the country’s political system for nearly sixty years.
Actions to be taken with respect to the five month political transition:
- Over the rest of this month, Cubans will meet in small groups to nominate municipal representatives. Cuban officials say that 12,515 block-level districts will nominate candidates for city council elections on 22nd October, 2017.
- In the second electoral stage,a commission dominated by government-linked organisations will pick all the candidates for elections to provincial assembliesand Cuba’s national assembly.
- TheCongress is expected to pick the President and members of the powerful Council of State by February. Mr. Raul Castro has said that he will leave the presidency by that date, though he is expected to remain head of the Communist Party.
The President of Cuba is Mr.Raul Castro.Head of the Cuban Communist Party is Mr.Raul Castro.
Capital – Havana
Official Language – Spanish
Currency – Peso
BANKING & FINANCE
China bans raising funds through cyrptocurrencies
China has banned individuals and organisations from raising funds through initial coin offerings (ICO), or launches of digital currencies announced on 4th of Sept 2017.
i.It allows raising large sums quickly by creating and selling digital “tokens” with little or no regulatory oversight.
ii.As per the People’s Bank of China Individuals and organisations that have completed ICO fund-raisings should make arrangements to return funds.
iii.After the announcement the prices of bitcoin and ethereum, two of the largest cryptocurrencies fall sharply.
iv.According to cryptocurrency analysis website Cryptocompare in total, $2.32 billion has been raised through ICOs, with $2.16 billion of that being raised since the start of 2017.
i.A cryptocurrency is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of additional units of the currency.
ii.Cryptocurrencies are classified as a subset of digital currencies and are also classified as a subset of alternative currencies and virtual currencies.
iii.Bitcoin became the first decentralized cryptocurrency in 2009.Since then, numerous cryptocurrencies have been created.
RBI lists HDFC Bank as D-SIB or ‘too big to fail’
RBI has included HDFC Bank in the list of ‘too big to fail’ lenders, referred to as D-SIB or domestic systemically important bank announced on 4th of Sept. 2017.
i.India’s largest lender SBI and private sector major ICICI Bank was classified as D-SIBs in 2015.
ii.SIBs are subjected to higher levels of supervision so as to prevent disruption in financial services in the event of any failure.
iii.There are two types of SIBs: Global SIBs, identified by BASEL committee on banking supervision and Domestic SIBs; identified by RBI.
iv.According to RBI the additional Common Equity Tier 1 (CET1) requirement for D-SIBs has already been phased-in from April 1, 2016 and will become fully effective from April 1, 2019.
v.The RBI categorises SIBs under five buckets depending upon their Systemic Importance Scores (SISs).
vi.Accordingly, ICICI Bank and HDFC Bank are in the first bucket. The banks need an additional tier I capital of 0.1% of loans for the current financial year. From 1 April 2018, the requirement will be an additional 0.15%.
vii.SBI is in the third bucket. It requires additional tier I capital of 0.3% in 2017 and 0.45% for the next financial year.
About HDFC bank
HQ: Mumbai Maharashtra
MD: Aditya Puri
Tagline: We understand your world
CBDT signs 4 more Advance Pricing Agreements
Central Board of Direct Taxes (CBDT) has entered into four more Advance Pricing Agreements (APAs)related to sectors like telecom, banking, manufacturing and education announced on 4th of Sept. 2017.
i.Out of these four agreements, three are unilateral and one is a bilateral.
ii.The bilateral APA is for international transactions between an Indian company and a UK-based company.
iii.This is the 8th bilateral APA with the United Kingdom and 13th overall. The other five bilateral APAs are with Japan.
iv.The total number of APAs entered into by the CBDT has reached 175. This includes 162 unilateral APAs and 13 bilateral APAs.
v.In 2017, a total of 23 APAs (two bilateral and 21 unilateral) have been signed till date.
vi.The APA programme was launched by the government in 2012 to provide taxpayers with an alternate dispute resolution mechanism with respect to transfer pricing.
APPOINMENTS & RESIGNS
KV Rama Moorthy appointed as MD & CEO of TMB
K V Rama Moorthy has appointed as Managing Director and Chief Executive Officer of Tamilnad Mercantile Bank Ltd announced on 4th Sept. 2017.
i.Prior to this, he was working as Executive Director of United Bank of India since 2015 and earlier he was with Bank of Baroda.
ii.According to the approval of RBI Moorthy will serve for a period of 3 years.
iii.Rama Moorthy has a wide experience in various phases of banking across operations, new products and services, retail lending, corporate banking, marketing and business expansion.
Tamilnad Mercantile Bank Limited (TMB) is a bank headquartered at Tuticorin, Tamil Nadu, India.
i.TMB was founded in 1921 as the Nadar Bank, but changed its name to Tamilnad Mercantile Bank in November 1962 to widen its appeal beyond the Nadar community.
ii.For the financial year 2016-2017, the bank reported a net profit of Rs.3166 million.
Novartis names Indian-origin Vasant Narasimhan as new CEO
Vasant Narasimhan will be named as chief executive of Novartis announced on 4th of Sept. 2017.
i.Current chief executive Joseph Jimenez will retire next year so Vasant Narasimhan will serve from 1st Feb 2018.
ii.Narasimhan is currently the global head of drug development and chief medical officer with the Swiss drug company.He joined Novartis in 2005 and has held numerous leadership positions in development and commercial functions.
iii.In January 2017, he became a member of the Board of Trustees of the Novartis Foundation.
iv.He previously served as global head of the Sandoz Biopharmaceuticals and Oncology Injectables business unit, overseeing the division’s biosimilars pipeline, and as global head of development for Novartis vaccines.
vi.Narasimhan received his bachelor’s degree in biological sciences from the University of Chicago.
ix.Narasimhan is also an elected member of the US National Academy of Medicine.
AWARDS & RECOGNITION
CBDT gets govt-honour for resolving public grievances
On 5th September 2017, The Central Board of Direct Taxes (CBDT) was honoured by Minister of State for Personnel, Mr.Jitendra Singh for successfully resolving public grievances.
- The CBDT is the apex policy making body for the Income Tax department.
- Five departments including the CBDT have been awardedunder three categories of organisations, divided on the basis of volume of grievances received and disposed by them.
- The Department of Administrative Reforms and Public Grievancesand Ministry of Development of North Eastern Region have been awarded in the category of ministries or departments receiving upto 300 grievances in a quarter.
- The Ministry of Micro, Small and Medium Enterprises, andPanchayati Raj ministry have been honoured in the category of organisations receiving more than 300 and upto 2,000 complaints in three-month time.
- TheCBDThas been honoured for resolving grievances in the third category of the government departments gettingmore than 2,000 grievances during a quarter.
Mr.Jitendra Singh’s Speech:
- Addressing the award function, Mr.Jitendra Singh said that other departments should also learn from the mechanism developed by the CBDT for the grievance disposal.
- He said the number of grievances lodged with the government has already reached 12 lakh per year and it is an indication of increasing faith of the citizens in the grievance redressal mechanism.
- He appealed to the states to make their grievance redressal mechanisms function in a more effective manner.
Other Static Information:
- TheMinister of State for Personnel is Mr.Jitendra Singh.
Amritpal Singh becomes first Indian to sign up for Australia’s National Basketball League
The captain of the Indian basketball team, Amritpal Singh created history by becoming the first Indian-born player to play professional basketball in the National Basketball League (NBL).
i.He had earlier been a part of the four-member Indian contingent of Amjyot Singh, Yadwinder Singh and Vishesh Bhriguvanshi, who had been a part of the National Basketball League (NBL) Draft Combine in Melbourne, Australia.
ii.Amritpal, represented India at the ‘2016 Asia Challenge’ in Tehran and averaged 17.8 points and 10.4 rebounds.
iii.He is invited by Australian Sydney Kings to join their team for the Atlas Challenge 2017, basketball tournament to be held in China.
iv.The announcement was confirmed by the Sydney Kings on their Facebook page, where the team stated that they expected the Indian to make a big contribution.
PM: Malcolm Turnbull
Currency: Australian Dollar
Konsam Ormila Devi bags gold at Commonwealth Youth weightlifting C’ship
India’s Konsam Ormila Devi bagged a gold medal in 44kg weight category on the opening day of theCommonwealth Youth (boys & girls) weightlifting championships.
i.Commonwealth Youth weightlifting Championship was held at Gold Coast, Australia.
ii.Ormila lifted 57kg in snatch and 76kg in clean and jerk for an overall effort of 133kg, to finish on the top of the podium.
Arunachal Pradesh Health Minister Jomde Kena passes away
Arunachal Pradesh Health and Family Welfare Minister Jomde Kena had passed away on 5th Sept. 2017.
i.He was a resident of Gensi village in Lower Siang district in Guwahati.
ii.He represented Likabali constituency and was first elected to the Legislative Assembly in 2004.
iii.He was re-elected to the House from the same constituency in 2009 and 2014.
iv.Kena was elected as Deputy Speaker during Nabam Tuki Government.
v.He served as Parliamentary Secretary under the Dorjee Khandu and Jarbom Gamlin ministries.
National Teachers Day – September 5 2017
Each year, Teacher’s Day is celebrated on the 5th of September in India. Teacher’s Day is celebrated to mark in honour of Dr Sarvepalli Radhakrishnan.
i.He was born on 5th September 1882 Tirutani in Andhra Pradesh.
ii.He became the first Vice President of India in 1952 and took on the role as the nation’s second President in 1962 until 1967.
iv.To celebrate his esteemed position, his students suggested that his birthday be celebrated as ‘Radhakrishnan Day’.
v.However, he declined this move and suggested that “Instead of celebrating my birthday, it would be my proud priviledge if September 5 is observed as Teachers’ Day.”
vi.He later served as the Vice Chancellor of both Andhra University and Banaras Hindu University.
vii.In 1939, he was elected Fellow of the British Academy.
viii.Radhakrishnan was awarded India’s highest civilian honour, the Bharat Ratna, in 1984 and the British Order of Merit in 1963.
ix.He passed away on April 17, 1975 and has till date been nominated eleven times for the Nobel Peace prize.
x.Teachers’ Day is celebrated to honour the memory of India’s first Vice President and to commemorate the importance of teachers in our lives.
International Day of Charity– September 5 2017
On 5th September every year International Day of Charity is observed world-wide. It was declared in the United Nations General Assembly in 2012.
Purpose of the International Day of Charity:
The prime purpose of the International Day of Charity is to raise awareness and provide a common platform for charity related activities all over the world for individuals, charitable, philanthropic and volunteer organizations for their own purposes on the local, national, regional and international level.
History behind the International Day of Charity:
- The International Day of Charity was conceived as a Hungarian civil society initiative supported by the Hungarian Parliament and Government in 2011 to enhance visibility, organize special events, and in this way to increase solidarity, social responsibility and public support for charity.
- September 5was chosen in order to commemorate the death anniversary of Mother Teresa who received theNobel Peace Prize in 1979 for work undertaken in the struggle to overcome poverty and distress, which also constitutes a threat to peace.
Other static information:
- The Nobel Peace Prize in 1979was awarded to Mother Teresa.