Daily Current Affairs - 04th Sep 2017

2017 Union Ministerial Reshuffle

  • Nine new members were inducted into Council of Ministers of NDA Government led by Prime Minister Narendra Modi.
  • Ministers and their portfolios
  • 1.Hardeep Singh Puri – Minister of State (Independent Charge) of the Ministry of Housing and Urban Affairs.
  • 2.Alphons Kannanthanam – Minister of State (Independent Charge) of the Ministry of Tourism; and Minister of State in the Ministry of Electronics
  • 3.Satya Pal Singh – Minister of State in the Ministry of Human Resource Development; and Minister of State in the Ministry of Water Resources, River
  • 4.Shiv Pratap Shukla: Minister of State in the Ministry of Finance.
  • 5.Raj Kumar Singh – Minister of State (Independent Charge) of the Ministry of Power
  • 6.Virendra Kumar – Minister of State in the Ministry of Women and Child Development
  • 7.Anantkumar Hegde – Minister of State in the Ministry of Skill Development and Entrepreneurship
  • 8.Piyush Goyal – Minister of Railways; and Minister of Coal.
  • 9.Nirmala Sitharaman – Minister of Defence.
  • 10.Mukhtar Abbas Naqvi – Minister of Minority Affairs.
  • 11.Dharmendra Pradhan – Minister of Petroleum and Natural Gas; and Minister of Skill Development and Entrepreneurship.

5 banks of BRICS nations sign pact for credit lines

  • Five banks of the BRICS Bank Cooperation Mechanism have agreed to establish credit lines in the national currencies and cooperate on credit ratings.
  • Brazilian Development Bank (BNDES), Vnesheconombank, Export-Import Bank of India, China Development Bank and Development Bank of South Africa (DBSA) have signed an agreement to establish credit lines in the national currencies, as well as a memorandum of cooperation on credit ratings.
  • The agreement on credit ratings allows the Interbank Cooperation Mechanism (ICM) members to share information about internal credit ratings assigned to clients, as well as rating assessment and assignment methodologies.

CAI EXPO closes

  • The CAI EXPO 2017, which showcased the latest technologies and products in the area of construction, architecture and design, ended with nearly 6,000 visitors attending the three-day expo at the Chennai Trade Centre.
  • This was the fifthe edition of the three-day expo, organised by BusinessLine in association with iAds and Events.

ECGC revives export-factoring business

  • To boost exports, India’s export credit guarantee agency ECGC has revived its export-factoring business
  • Factoring is a financial transaction whereby a seller (for example, an exporter) gets his accounts receivable (invoice) discounted with a ‘factor’ (such as ECGC).
  • The discounting leads to release of funds (almost 90 per cent of outstanding invoice value) for the seller. The factor, in turn, collects the payment on the invoice from the buyer (for example, an importer) on the due date.
  • Chairperson and Managing Director of ECGC--- Geetha Muralidhar.

Gujarat University ties up with Claris to support start-ups

  • Gujarat University and Claris Capital have joined hands to collaborate in the areas of start-ups, entrepreneurship, innovation and academic research.
  • As part of the association, Gujarat University and Claris will share technical knowhow, resources and infrastructure for entrepreneurship development.
  • As part of the collaboration, a youth entrepreneurship development conference, ‘INC Idea to Incorporation’, along with a large-scale business idea competition will be planned.
  • “Gujarat University’s GUSEC supports over 45 start-ups currently.

India whitewashed Sri Lanka to win the 5 match ODI series

  • India became the first visiting country to inflict a 5-0 defeat in Sri Lanka.
  • Virat Kohli made an unbeaten 110, his 30th century, and equalled Ricky Ponting's record. He is now next to Sachin Tendulkar, who has 49 centuries to his name in ODIs.
  • Jasprit Bumrah was declared Man of the Series for taking 15 wickets.

India, Japan set to sign ‘open skies’ agreement

  • India has finalised an Open Skies Agreement with Japan, allowing designated airlines of both signatory countries to operate freely.
  • The agreement may allow airlines from Japan to fly directly to Chennai and Bengaluru.
  • All Nippon Airways, Japan Airlines and Air India are the only carriers that connect the two countries, now
  • The national civil aviation policy of 2016 allows countries covered under such agreements an unlimited number of flights to the six metro airports in Delhi, Mumbai, Hyderabad, Kolkata, Bengaluru and Chennai.

L&T infra arm applies for registration of InVIT

  • L&T Infrastructure Development Projects Ltd (L&T IDPL) has applied to SEBI for registration of an Infrastructure investment trust (InvIT)
  • InvITs are trusts that manage income-generating infrastructure assets, offering investors regular yields.
  • InvITs emerged as one of the tools for infrastructure developers to unlock capital, reduce debt and also get the additional source of funding.
  • The deal was the first direct private investment by the Canada Pension Plant Investment Board (CPPIB) into an Indian infrastructure development company like L & T.

Mahendra Singh Dhoni is the First Wicketkeeper to Effect 100 Stumpings

  • Former India captain Mahendra Singh Dhoni became the first wicketkeeper in world cricket to attain 100 stumpings in One Day Internationals (ODIs). Dhoni achieved the feat in his 301st ODI in Colombo, Sri Lanka.
  • Former Sri Lankan Skipper Kumar Sangakkara is on the second position with 99 Stumpings on his name.

NIC developing e-mail server for govt officers

  • The National Informatics Centre (NIC) is building a massive server to boost capacity vis-a-vis official e-mail usage by central and state government officers.
  • NIC is developing an e-mail server for the whole government. Present e-mail server has already exceeded its capacity.
  • As part of the mandate under the Digital India programme, government will provide a secure email service to all its officials for secure communication.

President Ram Nath Konvind lay the foundation stone for SAUNI Scheme

  • President Ram Nath Konvind will lay the foundation stone for Link-4 of Saurashtra Narmada Avataran Irrigation (SAUNI) Scheme in Rajkot district.
  • SAUNI project had been launched by Prime Minister Narendra Modi during his tenure as Chief Minister of Gujarat aims to fill up 115 major dams by diverting overflow of water from the Sardar Sarovar Dam on Narmada River.
  • SAUNI project will also help to fill up more than 700 small and chekdams to boost the irrigation facilities for the farmers in this region.

Seychelles ratifies international solar alliance framework pact

  • Seychelles became the ninth member to ratify the ISA Framework Agreement. With this, the ISA will need the ratification of just six more countries to become a recognised inter-governmental body
  • The ISA was instituted to connect 121 solar-resource-rich nations for research, low-cost financing and rapid deployment of clean energy. As these countries lie within the Tropic of Cancer and the Tropic of Capricorn.

Sitharaman becomes India’s first full-time woman defence minister

  • Nirmala Sitharaman has become the first woman to become a full-time defence minister of the country.
  • 1st full time and overall 2nd woman to become defence minister: Sitharaman is the second woman to take charge of the crucial ministry as Indira Gandhi, as the prime minister, had also held the portfolio in the ’70s.

The United Nations Security Council to hold emergency meeting over N. Korea

  • The United Nations Security Council will hold an emergency meeting to discuss an international response to North Korea's latest nuclear test.
  • The UNSC in a statement has said that the US, Britain, France, Japan and South Korea requested the urgent meeting.
  • The council will meet in an open session, in contrast to many other meetings on North Korea that have been held behind closed doors.
  • The latest meeting comes in the wake of North Korea's sixth nuclear test, in defiance of UN resolution that prohibits Pyongyang from pursuing nuclear and missile programs.

Tigers to make a comeback in Buxa reserve

  • Buxa Tiger Reserve in West Bengal has been identified for the tiger augmentation programme by the National Tiger Conservation Authority (NTCA).
  • Tigers from the forest reserves of Assam, which have a similar flora and fauna, will be introduced in Buxa.
  • The reserve is located very close to Assam’s Manas Tiger Reserve, and some experts believe that animals from Manas often come to Buxa using Bhutan as a corridor.

US Open Tennis-- Sania Mirza and Shuai Peng have reached the quarter-finals.

  • In the Women's Doubles event, Sania Mirza and her Chinese partner Shuai Peng have reached the quarter-finals.
  • The Indo-Chinese duo defeated the unseeded pair of Romanian Sorana Cîrstea and Spanish Sara Tormo

World's tallest sandcastle built in Germany

  • An international team of sand artists have built the world's tallest sandcastle in Germany.
  • Travel company Schauinsland-Reisen initiated the project, hoping to bring the world record to Duisburg after the city's attempt failed last year.
  • After almost a month of construction, the finished sandcastle stood at 16.68 metres and was officially recognised by Guinness World Records as the tallest sandcastle in the world.

‘Yeh India ka time hai’ event organized at NIT Raipur

  • Yeh India ka time hai’ event was organized at National Institute of Technology, Raipur.
  • The event was held as per the directives of HRD ministry to mark India’s 70 years of independence and 75 years of the Quit India movement.
  • On the occasion of ‘Ye India ka time hai event’, students of NIT Raipur participated in a brainstorming session on 'New India Manthan' and discussed their views on ‘what kind of India do they imagine for 2022.