Daily Current Affairs - 28th Mar 2017

Bhubaneswar to host 2017 Men's Hockey World League final

  • Bhubaneswar will host 2017 Men’s Hockey World League final and the 2018 Men’s Hockey World Cup.
  • The Men’s Hockey World League Final, involving eight of World’s best teams including hosts India, will be played between December 1 to December 10, 2017. The World Cup is scheduled between November 28 to December 16, 2018 and will see 15 teams in action.

China nominates Tai Chi for UNESCO list

  • China has nominated Tai Chi, a form of ancient martial art, for inclusion in the UNESCO List of Intangible Cultural Heritage
  • China attempted to get the UNESCO status for the martial art form in 2008, but the application — one of 35 from China — was withdrawn after an evaluation deemed it “too vague”.
  • Tai Chi, literally ("Supreme Ultimate Boxing") is an internal Chinese martial art practiced for both its defense training and its health benefits. Though originally conceived as a martial art, it is also typically practiced for a variety of other personal reasons: competitive wrestling in the format of pushing hands (tui shou), demonstration competitions, and achieving greater longevity.

Government launches Online Film Certification System

  • Information and Broadcasting Minister M. Venkaiah Naidu launched the Online Film Certification System of the Central Board of Film Certification (CBFC).
  • The initiative was on the lines of government's vision of ease-of-doing business and digital India, making the entire process transparent and efficient.
  • Under the new system, for short films, promos or trailers of less than 10 minutes, the producer can submit their creations online. For films longer than 10 minutes, the applicant will have to show the film at the examining theatre, but will not be required to visit CBFC offices, except for collecting certificates.

In principle’ approval for four-laning of NH stretch

  • The Ministry of Road Transport and Highways has given 'in principle' approval to extend the widening of Madurai- Paramakudi road into four-lane up to Ramanathapuram, and four-laning of the existing two-lane Ramanathapuram- Rameswaram section of National Highway 49.
  • National Highway 49 (or NH 49) is a National Highway in southern India. It traverses coast-to-coast linking Kochi in Kerala with Dhanushkodi in Tamil Nadu.
  • It crosses the famous Pamban Bridge (Annai Indira Gandhi Bridge) before crossing into Rameswaram island. The total length runs up to 440 kms.

Jammu and Kashmir Muslims 'minority' status

  • A petition was filed by a Jammu and Kashmir based lawyer in Supreme Court, regarding the constitutional validity of the minority status accorded to the Muslim community in Jammu and Kashmir state.
  • Muslims account for 60% of the total population of the Jammu and Kashmir state.
  • Responding to the petition the apex court had issued notices to the Centre, the State governments and the National Commission for Minority asking them to respond to the petition.
  • The Central government represented through its Additional Solicitor general appeared before the SC and said that despite Muslim community being a majority in J&K state, it can be accorded a minority status under Central government.

Karnataka Bank installs 10,000 PoS terminals 3 years ahead of schedule

  • Karnataka bank had successfully installed a total of 10,000 point-of-sale(PoS) terminals at merchant establishments in the country,there by crossing the target set by the Finance Ministry on installation of PoS terminals.
  • The bank has been offering PoS services since 2011. This service enables merchant establishments accept card payments.
  • The demonetisation of specified bank notes in November and the thrust on migration to digital channels for transactions seem to have helped Karnataka Bank reach its target for installing point-of-sale (PoS) terminals three years in advance.

Kolkata to host Under-17 WC final

  • The governing body of world football — FIFA — chose to acknowledge the iconic status of both the city of Kolkata and its stadium in awarding the final of the prestigious Under-17 World Cup to Kolkata.
  • “Football Takes Over” is the official slogan of the tournament.
  • The giant Salt Lake Stadium (Vivekananda YBK), will be hosting the final on October 28 this year

Nadal wins landmark match

  • Rafael Nadal celebrated his 1,000th Tour-level match with a come-from-behind 0-6, 6-2, 6-3 victory over Philipp Kohlschreiber, to reach the fourth round of the Miami Open, Florida,USA.
  • The 30-year-old ignited the crowd with a typically determined comeback to clinch his 822nd career victory. He joins a small group of 11 players headed by Jimmy Connors (1,535) to have played at least 1,000 matches.

NHB upgrading Residex to cover more cities

  • As part of its attempt to overhaul its residential property price index ‘Residex’, the National Housing Bank(NHB) plans to come up with three sub-indices — one for tracking residential property prices (evaluated value versus registered value) and rentals, second for land value, and the third for building and construction materials.
  • Earlier, 26 cities were part of NHB’s Residex. The bank is planning to add two more cities to the index. Its coverage will be progressively increased to cover small cities over the years.
  • According to the RBI, central banks monitor developments in residential and commercial property prices keeping in view their prime objectives of price stability, financial stability and growth. The housing market is a key link in the chain of events impacting the economy.
  • Mortgages being one of the biggest financial transactions of households and housing loan being the major component of households’ liabilities, central banks track property prices for fine-tuning their micro-prudential supervision and regulation.

Nod for 101 cold chain projects

  • The Centre has sanctioned 101 new integrated cold chain projects intending to develop modern infrastructure for the food processing sector.The 101 new projects – which are for fruits and vegetables (53 projects), dairy (33), fish, meat, marine, poultry, ready-to-eat/ready-to-cook sectors – will create additional capacity of 2.76 lakh MT of cold storage/controlled atmosphere/frozen storage.
  • India is one of the largest food producers in the world and the second largest producer of fruits and vegetables yet only 2.2% of our fruits and vegetables are processed, according to a statement from the government.
  • The Ministry of Food Processing Industry is building National Cold Chain Grid in the country so that all food producing hubs are connected to cold storage and processing industries.

Ratification of Kyoto Protocol

  • The Government of India has decided to ratify the Second Commitment Period (2013- 2020) of the Kyoto Protocol.
  • Developing countries like India have no mandatory mitigation obligations or targets under the Kyoto Protocol.
  • The Clean Development Mechanism (CDM) under the Kyoto Protocol enables developed countries to invest in “Clean” projects in developing countries to gain emissions credits (Certified Emission Reduction-CER).

RIL shares sink 2.76% on SEBI order

  • The shares of Mukesh Ambani-led Reliance Industries (RIL) slumped 2.76% on the BSE after market regulator SEBI found the firm guilty of insider trading and banned it from trading in the derivatives market for a year.
  • RIL lost more than `11,600 crore in market capitalisation on account of penal act by the SEBI.
  • Insider trading is the buying or selling of a security by someone who has access to material nonpublic information about the security.
  • Insider trading can be illegal or legal depending on when the insider makes the trade. It is illegal when the material information is still nonpublic; trading while having special knowledge is unfair to other investors who don't have access to such knowledge.

Suicide no more a crime

  • The Mental Healthcare Bill, which decriminalises suicide and guarantees the right to better healthcare for people with mental illness, was unanimously passed in the Lok Sabha.
  • The Bill mandates that a person who is attempting suicide shall be presumed to be suffering from “severe stress” and, therefore, shall not be tried or punished by law.
  • Suicide is the act of intentionally causing one's own death.Risk factors include mental disorders such as depression, bipolar disorder, schizophrenia, personality disorders, alcoholism, or substance misuse.

Syndicate Bank opens 40 ‘Ananya’ branches

  • Syndicate Bank has digitally inaugurated 40 ‘Ananya’ transformed branches.
  • Project Ananya is a two-year large-scale transformation project undertaken by the bank to provide customers with ‘best in class’ services while improving and modernising the whole bank.
  • The bank also launched its first micro, small and medium enterprise (MSME) hub in Bengaluru.The hub is expected to cater to more than 150 branches across the Bengaluru region, and aims to reduce the turnaround time of the loan-sanctioning process.

Trade Facilitation Agreement of WTO

  • Consequent upon the ratification of the Trade Facilitation Agreement (TFA) of World Trade Organization (WTO) by India in April, 2016, a National Committee on Trade Facilitation (NCTF) under the Chairmanship of Cabinet Secretary has been constituted.
  • The TFA would necessitate simplification of border management procedures and adoption of new transparency measures, all of which are expected to reduce the transaction cost of imports and exports and facilitate smooth movement of goods across borders.