Daily Current Affairs - 10th Aug 2017

99 FDI proposals await nod

  • A total of 99 Foreign Direct Investment (FDI) proposals are pending in various Ministries/Departments, including a maximum of 48 with the Department of Industrial Policy and Promotion, according to Commerce Minister Nirmala Sitharaman.
  • The Centre, in May, approved the phasing out of the Foreign Investment Promotion Board —or the erstwhile single window clearance mechanism for FDI proposals in sectors under the government approval route.

Asian Shotgun Championship: Kynan, Shreyasi win bronze in mixed team trap event

  • Kynan Chenai and Shreyasi Singh of India have won bronze in mixed team trap event in Asian Shotgun Shooting Championship in Astana, Kazakhstan. The Indian pair defeated Lebanan shooters 40-38. It is India's 4th medal in the Championship. Kynan Chenai had also won bronze in men's trap event.

BJP MP and former Union Minister Sanwar Lal Jat passes away

  • BJP's Member of Parliament from Ajmer and former Union minister Prof Sanwar Lal Jat passed away. Prof Sanwar Lal Jat was member of the Rajasthan Legislative Assembly for five terms.
  • He served as Union Minister of State for Water Resources, River Development and Ganga Rejuvenation till July last year.

Country music legend Glen Campbell passes away at 81

  • The six-time Grammy winner and Country music legend Glen Campbell, who left his mark on the music, television and movie worlds, died at the age of 81 after a long battle with Alzheimer’s disease.
  • Campbell’s more than 70 albums sold more than 50 million copies, earning him six Grammy Awards, including a Lifetime Achievement Award, and membership in the Country Music Hall of Fame and Musicians Hall of Fame

Cricket: Iyer, Shankar power India A to tri-series win

  • India A rode on Shreyas Iyer's unbeaten century and all-rounder Vijay Shankar's half-century to thrash South Africa A by seven wickets and retain the tri-series trophy in Pretoria. Chasing a modest 268, Iyer with 140 not out and Shankar with 72 runs put on 141 runs for the third wicket.
  • Earlier, Farhaan Behardien with 101 not out and Dewald Pretorious with 58 runs helped the hosts to post 267for 7.

Direct tax collection up 19% till July at Rs 1.90 lakh crore

  • Direct tax collections till July in the current financial year registered a growth of 19.1 percent. The tax collection during that period, stands at 1.90 lakh crore rupees which is 19.1 percent higher than the net collections for the corresponding period of last year.
  • The growth rate for Corporate Income Tax (CIT) is 7.2 percent and Personal Income Tax (PIT) is 17.5 percent.
  • Refunds amounting of 61,920 crore rupees have been issued during April to July this year which is 5.1 percent lower than the refunds issued during the corresponding period of last financial year.

India celebrates 75th anniversary of Quit India Movement

  • The nation is celebrating the 75th anniversary of the Quit India Movement. The Parliament paid tributes to the freedom fighters those who sacrificed their lives for the nation.
  • The House unanimously adopted a resolution solemnly taking a pledge to uphold and safeguard the values and ideals of the freedom movement and re-dedicate to build an India that is strong, self-reliant, inclusive, secular and democratic.
  • The Quit India Movement was launched by the father of the nation Mahatma Gandhi on 9th August, 1942, demanding an end to the British Rule in India, and then on 15th August, 1947 India became independent.

India ranks 43rd in 2017 Global Retirement Index

  • The French asset management company, Natixis Global has revealed that India ranks the lowest in Global Retirement Index (GRI) of 43 countries. According to its index, India has the worst ranking among BRICS (Brazil, Russia, India, China and South Africa) countries. As compared to the last year, India has the same ranking as it stands 43rd in this year's GRI ranking.
  • The rating has been analysed on the basis of four measurable factors – the material means to live comfortably in retirement; access to quality financial services to help preserve savings value & maximize income; access to quality health services; and a clean & safe environment.
  • India has ranked the lowest in each measurable factor of GRI, Switzerland, Norway and Iceland topped the rankings respectively.

India ratifies 2nd commitment period of Kyoto Protocol

  • India has ratified the second commitment period of the Kyoto Protocol that commits countries to contain the emission of greenhouse gases, reaffirming its stand on climate action. India deposited its Instrument of Acceptance of the Doha Amendment to the Kyoto Protocol under the UN Convention on Climate Change.
  • With this, India became the 80th country to accept the amendment relating to the second commitment period of the Kyoto Protocol, the international emissions reduction treaty.
  • The Kyoto Protocol is an international agreement linked to the United Nations Framework Convention on Climate Change (UNFCCC), which commits its Parties by setting internationally binding emission reduction targets.
  • India's Permanent Representative to the UN Ambassador: Syed Akbaruddin

Isco magic wins Super Cup for Real Madrid

  • Real Madrid survived a Manchester United fightback to win 2-1 and lift the UEFA Super Cup in Skopje. Real Madrid players Isco and Casemiro proved the difference between the two sides as both scored one goal each to sink Manchester United. It is the eighth time in nine years that a Spanish club has won the Super Cup.

ISRO to develop full-fledged earth observation satellite

  • The Indian Space Research Organisation (ISRO) plans to launch a full-fledged niche earth observation (EO) satellite — called the Hyperspectral Imaging Satellite or HySIS — using a critical chip it has developed.
  • ISRO is endeavouring to enter the domain of operational hyperspectral imaging from earth orbit with a satellite that can see in 55 spectral or colour bands from 630 km above ground. Hyperspectral or hyspex imaging is said to be an earth observation trend that is being experimented globally.
  • The new type of imaging can be used for a range of activities from monitoring the environment, crops, looking for oil and minerals all the way up to military surveillance — all of which need images that show a high level of differentiation of the object or scene.

Kenya election: Prez Kenyatta takes early lead against Odinga

  • Incumbent President of Kenya, Uhuru Kenyatta has taken a strong lead in the Presidential election. Results released by the electoral commission (IEBC) showed Kenyatta leading with 55 percent of the nearly 13 million ballots counted against Raila Odinga's 44 percent, a difference of nearly 1.4 million votes.
  • The allegation by opposition rival Raila Odinga raised fears of a possibly violent dispute over the results of election to decide the leader of east Africa's most vibrant democracy.

Kenya's Kipruto claims 3,000m steeplechase world title

  • Olympic gold medallist Conseslus Kipruto wins men's 3,000 metres steeplechase at the IAAF World Athletics Championships in London.
  • The Kenyan clocked eight minutes and 14.12 seconds to continue his in-form performance in the event after the Rio Olympic Games last year.

New India IPO to raise Rs. 6,000 crore

  • State-run general insurance company New India Assurance has filed a draft red herring prospectus with market regulator Securities and Exchange Board of India (SEBI) for an initial public offering (IPO).
  • According to bankers, the IPO aims to mop up more than Rs. 6,000 crore by issuing 120 million shares of which 24 million would be fresh issue.The government will sell 96 million shares or 14.5% equity through the IPO.
  • Kotak Securities, Nomura and IDFC Securities are the merchant bankers for the issue.

NSDC, Google India to launch mobile app development programme

  • The NSDC and Google India will come together to train app developers for mobile platform on the Android and web platforms, a move aimed at improving the country’s mobile application development ecosystem.
  • Under the initiative, NSDC will introduce a specific course with the scope to train developers to create applications for the mobile platform that can be used on smartphone and tablets running on the Android operating system.The 100-hour duration course is designed to be delivered by NSDC’s partner agencies, outside the formal education system.
  • According to a study conducted by IMaCS on behalf of NSDC, India is likely to have an incremental requirement of 24.4 crore skilled people by 2022 in 21 high growth sectors.
  • The National Skill Development Corporation (NSDC) is a public-private partnership enterprise under the Ministry of Skill Development & Entrepreneurship.
  • NSDC MD & CEO: Manish Kumar

PSU bank mergers post Q1 results

  • The Finance Ministry is expected to initiate the process of consolidation of public sector banks once the first-quarter results of the current fiscal have been announced.There are factors like regional balance, geographical reach, financial burden and smooth human resource transition that have to be looked into while taking a merger decision, the official said.
  • There should not be merger of a very weak bank with a strong one as it could pull the latter down

Qatar scraps visit visa requirements for 80 nationalities

  • Qatar has announced scrapping of visa requirements for visitors from 80 countries as it weathers a boycott by four Arab states and gears up to host the World Cup in 2022.
  • Under the new policy announced by Qatar Airways and authorities, citizens of 33 mostly European countries can enter without a visa for 90 days in single or multiple trips during a 180-day period.
  • Qatar's economy has taken a hit since Saudi Arabia, the United Arab Emirates, Egypt and Bahrain moved to isolate it two months ago over allegations it supports extremists.
  • Qatar has denied backing of terror groups and said that the allegations against Doha are politically motivated.

Union Government to expand Logistics Data Bank project to South India

  • The Union Ministry of Shipping is planning to expand Logistics Data Bank (LDB) project to the country’s southern region. The LDB project was launched at the Jawaharlal Nehru Port (JNPT), Mumbai in July 2016, making it first port in India to provide this service. So far, it had covered only the western logistics corridor.
  • The facility — where every container is attached to a Radio Frequency Identification Tag (RFID) tag and then tracked through RFID readers — aids importers and exporters in tracking their goods in transit. This has, in turn, cut the overall lead time of container movement as well as reduced transaction costs that consignees and shippers incur.
  • The objective of LDB is to make India’s logistics sector more efficient through the use of Information Technology. The project covers the entire movement (of containers) through rail or road till the Inland Container Depot and Container Freight Station.
  • The LDB is being implemented through a Special Purpose Vehicle called Delhi Mumbai Industrial Corridor Development Corporation Logistics Data Services Ltd. (DLDSL) — that is jointly (50:50) owned by the Delhi Mumbai Industrial Corridor (DMIC) Trust and Japanese IT services major NEC Corporation.