Daily Current Affairs - 23rd Jul 2017

33 Per Cent Of Child Brides In The World Are Indian: Report

  • India contributes 33 per cent of the total number of child brides in the world with nearly 103 million Indians married before they were 18, said a report.
  • At 103 million, the number of child marriages is more than the total population of Philippines (100 million) and Germany (80.68 million), stated the report, analysing data from Census 2011.
  • The report found that rural regions account for 75 per cent of all instances of child marriages. Seven states (Uttar Pradesh, Andhra Pradesh, West Bengal, Rajasthan, Bihar, Maharashtra and Madhya Pradesh) account for 70 per cent of child marriages in the country.

40% of Fortune 500 companies Asian, India has 7 in list

  • The latest edition of the Fortune Global 500 list, which ranks companies by their revenues in 2016, has 40% of Asian companies in the list.
  • The US continues to have the largest presence on the elite list with 132 firms, but China is not too far behind at 109 and is leading the Asian drive to the top. Japan, with 51, is in third spot; South Korea has 15 while India has seven. Only one of the seven Indian companies is in the top 200 —Indian Oil, ranked 168th.
  • The other six Indian companies in the Fortune 500 list are Reliance Industries (203), State Bank of India (217), Tata Motors (247), Rajesh Exports (295), Bharat Petroleum (360) and Hindustan Petroleum (384).

Data protection integral to right to life: Centre to SC

  • The Centre today told the Supreme Court that data of users was “integral” to the Right of Life and Personal Liberty guaranteed under the Constitution and it would come out with regulations to protect it.
  • The Centre said there is a need for intervention by the State in the matter as data is connected to the personality of a user.
  • The apex court said, arbitrary conditions cannot be imposed on the users as choice of the users cannot be curtailed.

Govt launches pension scheme with 8% guaranteed returns for senior citizens

  • Finance minister Arun Jaitley launched Pradhan Mantri Vaya Vandana Yojana, a pension scheme for senior citizens above 60 years of age. The scheme gives a guaranteed annual return of 8% over a policy tenure of 10 years.
  • Life Insurance Corporation of India (LIC) has the sole rights to sell this scheme both online and offline.
  • Minimum and maximum purchase prices for the pension scheme are Rs150,000 and Rs750,000 respectively.

Govt offers assistance to Indian women abused, abandoned by their overseas Indian spouses

  • External Affairs Ministry is implementing a scheme to provide financial assistance to Indian women abused /abandoned by their Overseas Indian spouses.
  • The Scheme is currently operational, in 13 countries namely the US, the UK, Canada, Australia, New Zealand, Malaysia, Singapore and the Gulf countries which are Kuwait, Bahrain, Qatar, Saudi Arabia, Oman and United Arab Emirates.
  • Consular Services Management System (MADAD) is an online portal developed by Ministry of External Affairs to register grievances pertaining to the Consular Services offered by the Indian Mission/Posts abroad.

Hero MotoCorp renews ISL sponsorship for next three years at Rs 160 cr

  • Hero Moto Corp has renewed its association with the Star India and IMG Reliance-promoted Indian Super League (ISL) for another three years, tripling its investment in the domestic football tournament.
  • On board since the league's launch in 2014, Hero's previous deal with ISL was valued at $8 million (around 51 crore) for three years. The renewed deal is estimated at $25 mn (Rs 160 crore) for another three years.

Ilie Nastase given three-year ITF ban after Fed Cup meltdown

  • Romanian Fed Cup captain Ilie Nastase has been banned from acting in an official capacity at all International Tennis Federation (ITF) team competitions until Dec. 31, 2020,
  • The 71-year-old was sanctioned for multiple breaches of conduct rules during a Fed Cup tie between Romania and Britain in April, including making a “highly inappropriate and racially insensitive” comment about Serena Williams' unborn child.

India to Host Global Conference on Cyber Space 2017

  • India will be hosting the 5th Global Conference on Cyber Space (GCCS) in 2017, one of the world’s largest conference on Cyber Space and related issues.
  • Themed on Cyber4All: An Inclusive, Sustainable, Developmental, Safe and Secure Cyberspace, the GCCS 2017 will be inaugurated by the Prime Minister of India Shri Narendra Modi. To be held in India for the first time, the two-day conference will see participation of around 2000 delegates.
  • The GCCS is taking place outside OECD nations for the first time.

Jaitley introduces Bill in Lok Sabha to repeal law on SBI’s subsidiary banks

  • Finance Minister Arun Jaitley introduced a Bill in the Lok Sabha that will pave the way for the repeal of the State Bank of India (Subsidiary Banks) Act, 1959 and the State Bank of Hyderabad Act, 1956.
  • The repeal of these two laws is necessary in the wake of all the subsidiary banks of SBI and State Bank of Hyderabad (SBH) getting consolidated into State Bank of India from April 1 this year.
  • Both SBH and State Bank of Patiala were wholly-owned by SBI.

SBI, Carlyle Group to buy out GE Capital from SBI Card

  • Global PE firm Carlyle Group and India’s largest lender State Bank of India have agreed to jointly acquire GE Capital Group’s entire stake in SBI Card, the second-largest credit card franchise in the country. Carlyle is believed to be acquiring the stake for nearly $300 million (about Rs. 1,930 crore).
  • SBI Card is a joint venture between US-based GE Capital Group and SBI. Following the transaction, SBI and Carlyle will own 74 per cent and 26 per cent in SBI Cards & Payment Services (SBICPS) and GE Capital Business Process Management Services (GECBPMS), the two entities that operate SBI Card.

Six telcos underreported revenue by Rs 61,064.5 crore: CAG

  • The national auditor pulled up six telcos including the top three — Bharti Airtel, Vodafone India and Idea Cellular — for allegedly understating their revenue by Rs61,064.5 crore over five financial years, leading to the government losing out on Rs12,229.24 crore as payment from spectrum charges and interest, which are computed by using revenue as the base.
  • This revenue loss occurred over the five-year period from 2010-11 to 2014-15 for five telcos – Bharti Airtel, Vodafone, Idea Cellular, Reliance Communication and Aircel. For SSTL the findings are for the 2006-07 to 2014-15 period.

UN blames Saudi-led coalition for air strike on civilians in Yemen

  • The United Nations blamed a Saudi-led coalition for a deadly air strike on civilians in Yemen this week. It said, there were no military targets in the air struck area.
  • The UN human rights office, which put the death toll at 18, said the strikes hit three families who were staying in a makeshift straw house after being displaced from their homes three months ago by fighting.
  • The United Nations called for a comprehensive and impartial investigation into the incident.The Saudi-led coalition has faced repeated criticism over civilian casualties in Yemen. It accuses the Iran-backed rebels of using civilians as human shields.

US blocks $350 million aid to Pakistan for not acting against Haqqani network

  • The United States has blocked 350 million dollars in coalition support funds to Pakistan as Islamabad failed to act against the dreaded Haqqani network.
  • Pakistan-based Haqqani network is blamed for a number of high-profile terror attacks on US and Western interests in war-torn Afghanistan.
  • This is for the second consecutive year that the US Defence Secretary has refused to certify that Pakistan has taken satisfactory action against the Haqqani network.