Current Affairs Update - 23 August 2016

Updated on : 09:43, 30 August 2016

— NATIONAL —

– India 7th on list of countries with highest individual wealth

• India has figured among the top 10 wealthiest countries in the world with a total individual wealth of $5,600 billion while the United States topped the chart. According to a report by New World Wealth, India was ranked seventh, ahead of Canada ($4,700 billion), Australia ($4,500 billion) and Italy ($4,400 billion), which came in at eighth, ninth and 10th slots, respectively.
• The US is the wealthiest in the world in terms of total individual wealth held ($48,900 billion), while China stood second and Japan third, with total individual wealth of $17,400 billion and $15,100 billion, respectively.
• Others in the top 10 club include the United Kingdom (fourth) with a total individual wealth of $9,200 billion, followed by Germany (fifth, $9,100 billion) and France (sixth, $6,600 billion).
• Wealth refers to net assets of a person. It includes all their assets (property, cash, equities, business interests) less any liabilities, the report said, adding that it excludes government funds from its figures.

– 350-feet statue of Ambedkar to be set up in Indu Mill

• A 350-feet tall bronze statue of B R Ambedkar will feature at the Ambedkar memorial to be set up at Indu Mill land here.
• The statue will be called the ‘Statue of Equality‘, to mark Ambedkar’s contribution to fight against social injustice, Maharashtra Social Justice Minister Rajkumar Badole said here today.
• Prime Minister Narendra Modi had performed the bhumi poojan of the Ambedkar memorial in October 2015.

– Telangana govt to create 17 new districts in Oct

• In a major administrative revamp, the two-year-old Telangana government has issued draft notification on rearranging district borders to create 17 new districts.
• After the completion of the process, the number of districts in the State will go up to 27 from the present 10. The new districts will come into being in October.
• The government invokes a 1974 Act that provides for the reorganisation. The number of mandals and revenue divisions too will go up.
• Though the government wanted to increase the number of mandals by 90, it decided to prune it to 31, so that after the revamp, the number will be 490. The State will have 58 (44 now) revenue divisions.

– Maharashtra becomes first state to draft law for internal security

• Maharashtra became the first state in the country to draft its own internal security legislation The Maharashtra Protection of Internal Security Act (MPISA), 2016. The bill has been kept public responses for suggestions and objections. Later it will be presented to the legislature for approval.
• It gives special emphasis on maintaining law and order and combating terrorism, insurgency, caste-related violence and communalism in the state.

– Chhattisgarh Assembly passes GST Bill, becomes fifth state to do so

• The Chhattisgarh Assembly unanimously ratified the Goods and Service Tax (GST) constitution amendment bill becoming the fifth state to pass the bill.
• Before Chhattisgarh, Himachal, Assam, Jharkhand and Bihar became the first four states to pass the bill.
• The GST bill, seen as single biggest tax reform in a long time, needs to be ratified by at least 15 state legislatures before the President can notify the GST council which will decide the new tax rate and other issues.
• The government had been working overtime to get states on board over the GST following the passage of the bill in Parliament. It is keen to bring two bills aimed at implementing the new tax regime in the winter session to meet the April 2017 deadline for its rollout.

– President launches Kolkata Akashvani Kendra’s Moitree Service in Bangla

• President Pranab Mukherjee today launched Kolkata Akashvani Kendra’s Moitree Service in Bangla for listeners in Bangladesh. He said it can be an important channel of communication between India and Bangladesh. Both the countries can work together for SAARC initiative, he said.
• The President will also attend the 125th anniversary celebrations of Bangiya Sahitya Parisad and inaugurate a new building of the Bharat Chamber of Commerce.
• The concept of the channel emanates from the decision taken during the visit of Prime Minister Narendra Modi to Bangladesh wherein the two sides agreed to share content among their broadcasting organisations.
• Tomorrow, he will inaugurate a Mega Food Park at Jangipur, Murshidabad and will also grace the convocation of Management Development Institute-Murshidabad at Jangipur before returning to New Delhi.

– Azadi Sattar saal-Yaad Karo Kurbani to conclude today

• Schools and Colleges across the country today organised a mass singing of National Anthem as part of the fortnight long celebrations Sattar saal Azadi- Yaad Karo Kurbani. Today is the last day of programme, which was started on 9th of this month.
• The programme was launched by Prime Minister Narendra Modi from the birthplace of freedom fighter Chandra Shekhar Azad at Alirajpur in Madhya Pradesh to mark 70 years of Independence and 74 years of Quit India Movement. The aim of the programme is to re-instill the spirit of freedom struggle and national movement among the younger generation.

– Mobile app for farmers

• Punjab Chief Minister Parkash Singh Badal on Monday launched a mobile app ‘Kisan Suvidha’ for farmers.
• The app will provide basic information on weather updates, crop prices and expert advices, an official spokesman said here.
• Praising the Agriculture Department initiative, he said this would go a long way to keep the farmers abreast with the changing agricultural practices and marketing support, coupled with the latest agronomical techniques to enhance productivity.

– NGT imposes Rs 100 crore fine on Qatar-based shipping company

• The National Green Tribunal (NGT) on Tuesday imposed a fine of Rs. 100 crore on a Qatar-based shipping company, Delta Shipping Marine Service, for 2011 Mumbai oil spill.
• A cargo vessel had sunk 20 nautical miles off the South Mumbai coast on August 4, 2011. The tribunal also imposed a fine of Rs 5 crore on Adani Enterprises Ltd for environmental damage. The ship was carrying coal to be delivered for one of Adani’s thermal plant in Gujarat.

 

— INTERNATIONAL —

– India, Germany sign pact on vocational training

• Deepening collaboration on skill development, India and Germany today signed an agreement that aims to foster conditions that will help create and improve workplace-based vocational training in India’s industrial clusters.
• Under the pact, German technical assistance will be used to enhance industry institute partnerships between Indian and German organizations, build capacity of local training institutions and foster industry linkages which will help adapt elements of the German dual system into the Indian context.

– US announces 138 million dollar aid to South Sudan

• United States has announced 138 million dollar new aid to South Sudan. US Secretary of State John Kerry said the aid is meant for food, water, and medicine for those in need.
• He was addressing a meeting attended by Kenyan President Uhuru Kenyatta and foreign ministers from Kenya, Uganda, Sudan, Somalia, and South Sudan in Nairobi at the start of his three-country tour.
• He said, it is necessary to deploy the 4,000-troop Regional Protection Force in South Sudan as mandated by the UN Security Council.
• The UN force is being deployed after clashes in South Sudan’s capital Juba last month. More than 300 people died in the clashes and forced the opposition leader Riek Machar to flee the country.

 

— BANKING —

– Catholic Syrian Bank MD quits

• Anand Krishnamurthy, Managing Director and Chief Executive of Kerala-based Catholic Syrian Bank, has submitted his resignation, a year after taking over the posts.
• The management, in a statement issued here, said that Krishnamurthy has tendered his resignation because of his personal priorities and the board of directors has accepted his resignation.
• The process of selecting a successor to facilitate a smooth transition is in an advanced stage. Formal announcement will follow on finalisation and receipt of necessary approvals.

– United Bank of India raises Rs 1,000 crore from bonds

• State-owned Union Bank of India raised Rs 1,000 crore through bonds to fund business growth.
• The bank issued 10,000 Basel III-compliant Tier II bonds of face value Rs 10, 00,000 each at par aggregating to Rs 1000 crore on private placement basis, Union Bank of India said in a regulatory filing on stock exchanges.
• The bonds bear 8 per cent coupon rate payable annually, it said.
• The bonds are issued for a period of 10 years, with a call option after five years, and thereafter on all coupon payment dates, it said.

 

— BUSINESS AND ECONOMY —

– Jawaharlal Nehru Port Trust to sign agreement with bankers for External Commercial Borrowing

• India’s premier container port, Jawaharlal Nehru Port in Navi Mumbai, has signed an agreement with State Bank of India and Development Bank of Singapore for External Commercial Borrowing to the tune of USD 400 Million at a very competitive” interest rate to improve the infrastructure required for doubling.
• The ECB of USD 400 Million (USD300 Million from the SBI & USD100 from DBS) will be primarily utilised by the JNPT, which has US Dollar denominated foreign currency earnings which can be leveraged for a low cost foreign currency borrowing, for expansion of its existing roads network connecting to its port project as the existing road network for evacuation of traffic is currently operated at a capacity utilisation of 100%.

– Transactions over Rs 3 lakh to be illegal as government turns heat on cash stashers

• The government is set to ban cash transactions over Rs 3 lakh as it seeks to clamp down on black money in the economy following recommendations from the Supreme Court-appointed Special Investigation Team.
• The government, however, is yet to decide on the SIT’s other proposal to bar cash holdings over Rs 15 lakh due to opposition from trade and industry , sources told TOI. “There are concerns that this will result in harassment by tax officials .
• The Rs 3 lakh-limit is aimed to ensure that transactions are made using credit or debit cards, cheques or drafts which can be easily tracked. Despite the crackdown on unaccounted money, authorities continue to unearth several transactions involving purchase of jewellery or even cars in all cash deals. The finance ministry is also trying to promote use of plastic money and recently did away with transaction charges for government services.

 

— APPOINTMENTS AND RESIGN—

– Prof. Jagdish Mukhi sworn in as the 12th Lt Governor of A & N Islands

• Prof. Jagdish Mukhi assumed office as the 12th Lieutenant Governor of Andaman and Nicobar Islands.
• At a formal swearing-in-ceremony held at Raj Niwas here this afternoon, Mr. Justice Girish Chandra Gupta, acting Chief Justice of Calcutta High Court administered the Oath of Office and Oath of Secrecy to the new Lt Governor.
• The Chief Secretary, Shri Anindo Majumdar read out the Warrant of Appointment. Soon after the swearing -in- ceremony, the Contingent of A & N Police presented Guard of Honour to the Lt Governor.
• Later, the Lt Governor also interacted with the people and guests present on the occasion.

– Ashok Chawla to take over as YES Bank non-executive chairman

• Former CCI head Ashok Chawla will take over as Non-Executive Part-time Chairman of YES Bank from October as the lender has received approval from the Reserve Bank for this appointment.
• YES Bank said Chawla’s appointment is for a period of three years, with effect from the date of joining the bank.
• Currently, he is the Chairman of NSE and chairs the governing council of The Energy and Research Institute (TERI).

– Banwarilal Purohit sworn in as Governor of Assam

• Chief Justice of Gauhati High Court Ajit Singh administered the oath of office and secrecy to Purohit at the Raj Bhavan here.
• Purohit succeeded Padmanabha Balakrishna Acharya, Governor of Nagaland who was Governor in-charge of Assam.
• The oath of office was administered at the Durbar Hall of the Raj Bhavan and the function was attended by Chief Minister Sarbananda Sonowal and some of his cabinet colleagues.
• A public personality inseparably involved in social, political, educational and industrial fields of Vidarbha in Maharashtra, Purohit had plunged into active politics in 1977.

– Manjula Chellur sworn in as Chief Justice of Bombay HC

• Justice Manjula Chellur was today sworn in as the Chief Justice of the Bombay High Court.
• Maharashtra Governor Ch Vidyasagar Rao administered the oath of office to Justice Chellur at a brief swearing-in ceremony held at Raj Bhavan. Chellur is the second woman Chief Justice of the Bombay High Court, after Sujata Manohar in 1994.
• Prior to this posting, Justice Chellur was serving as the Chief Justice of the Calcutta HIgh Court. She has also served as the Chief Justice of the Kerala High Court.
• Born in Karnataka, Justice Chellur got her law degree and started in 1977. She was the first lady advocate to practice at Bellary and became a district judge in 1988.

 

— SCIENCE AND TECHNOLOGY —

– For the first time scientists predict brain activity patterns

• For the first time, researchers have decoded and predicted the brain activity patterns of word meanings within sentences. The brain activity patterns were predicted using functional magnetic resonance imaging (fMRI) to measure human brain activation.
• With this, researcher can now predict 70% brain activity patterns. This study may help treat persons with brain injury and stroke patients to communicate better. It also makes key advances towards understanding how information is represented throughout the brain.

– New species of eel found in Bay of Bengal

• Scientists have discovered a new species of eel, a snake-like fish, from the northern Bay of Bengal along the West Bengal coast.
• The species Gymnothorax indicus is slender-bodied, about one feet-long and edible.

• The eel was studied by the scientists at Sankarpur fishing harbour in West Bengal’s Purba Medinipur district, after it was collected in a trawl net by fishermen in northern Bay of Bengal, about 70 km off the coast.

 

— SPORTS —

– Gujarat to host 2016 Kabaddi World Cup

• The 2016 Kabaddi World Cup will be hosted in Ahmedabad, Gujarat between October 7 and 22, the International Kabaddi Federation (IKF) announced.
• The event will see 12 Kabaddi teams from around the world including India, USA, Canada, UK, Australia, Iran, Poland, Pakistan, Bangladesh, Korea, Japan and Kenya, representing all the five geographies of the Olympic Games.
• The city of Ahmedabad will host the 2016 Kabaddi World Cup .The Gujarat state extends enthusiastic support for showcasing this World Cup as a truly world class sports event, and draws inspiration from our Prime Minister Narendra Modi’s call to take our nation ahead in every sport.

– Sindhu, Sakshi, Dipa, Jitu Rai to get Rajiv Gandhi Khel Ratna Award

• A day after the Olympic Games came to an end in Rio de Janerio, the government on Monday conferred the Rajiv Gandhi Khel Ratna Award 2016 to Olympic medallists P.V. Sindhu and Sakshi Malik; ace gymnast Dipa Karmakar, who lost a medal by a whisker, and shooter Jitu Rai. This is for the first time the nation’s highest sporting award has been conferred on four athletes.
• Dipa Karmakar’s coach, Bishweshwar Nandi, has been selected for the Dronacharya Award, alongwith Nagapuri Ramesh (athletics), Sagar Mal Dhayal (boxing), Raj Kumar Sharma (cricket), S. Pradeep Kumar (swimming) and Mahabir Singh (wrestling).
• Fifteen sportspersons will be honoured with the Arjuna Award and three with the Dhyan Chand Award.
• Besides, the Punjabi University of Patiala will be awarded the Maulana Abul Kalam Azad (MAKA) Trophy 2015-16.

 

— OBITUARY —

– Former Singapore President dead at 92

• Former Singaporean President S R Nathan died Monday at the age of 92, according to a statement from the country’s Prime Minister, Lee Hsien Loong.
• Nathan, who held office from 1999 to 2011, was the longest-serving president of Singapore. Prior to becoming President, Nathan held key positions in the civil service, as well as in security & foreign affairs.

• He was appointed as Singapore’s High Commissioner to Malaysia in 1988 & later Singapore’s Ambassador to the USA from 1990 to 1996.