Daily Current Affairs - 19th Oct 2017

AB De Villiers steers South Africa to series win

  • A swashbuckling century from AB de Villiers secured a 104-run victory for South Africa over Bangladesh and sealed the three-match series in the second One-Day International (ODI) at Boland Park. De Villiers smashed his highest ODI score of 176 from 104 balls as South Africa posted 353 for six in their 50 overs having been asked to bat, before restricting Bangladesh to 249 all out in 47.5 overs in their reply.

Asia cup Hockey: India & South Korea ends in a 1-1 draw

  • In Asia Cup Hockey, India drew South Korea 1-1, in their first match of the Super4 stage at Dhaka. After a goalless first half, the Koreans took the lead through Jungjun Lee's goal. Gurjant Singh scored the equaliser for India in the final minutes.
  • India had finished the pool stages with an all-win record. Korea, on the other hand, finished second in Pool B, behind Malaysia.

Banks to provide funds at 7% to women SHGs under DAY-NRLM

  • The RBI said that banks will provide funds to women self help groups, SHGs, in rural areas at 7 per cent under the Deendayal Antyodaya Yojana - National Rural Livelihoods Mission (DAY-NRLM) in the current fiscal.
  • The central bank has issued the revised guidelines on interest subvention scheme under DAY-NRLM, which will be implemented by 21 public sector banks and 19 private banks.
  • All women SHGs will be eligible for interest subvention on credit upto 3 lakh rupees at 7 per cent per annum.

Beyond The Dream Girl: Hema Malini's biography launched

  • The biography of bollywood actresses Hema Malini, titled Beyond The Dream Girl, penned by journalist Ram Kamal Mukherjee was launched by Deepika Padukone. Malini ruled the Hindi film industry for an unparalleled duration of 15 years.

Canada will be partner country for 2017 Technology Summit in India

  • Canada will be the partner country at the 23rd iteration of the Tech Summit, India's largest knowledge and technology conference and exhibition to be held from November 14 to 15, 2017 in New Delhi. The Summit is organized by the Confederation of Indian Industry (CII) and the Indian Department of Science and Technology (DST).
  • The India-Canada Tech Summit will highlight range of research and innovations areas where India and Canada are world leaders.
  • The themes will be Advanced Manufacturing which includes advances in aerospace, Automotive and Robotics, Transportation which includes Intelligent Transport Systems, Aviation, and Infrastructure, Artificial Intelligence highlighting ICT, Data Sciences, Life Sciences, and Agricultural Technology, and Energy which covers Clean Technologies and Extractive Technologies.
  • A particular focus of the summit is highlighting the role of women in science and business as well as promoting the start-up and incubator communities in India and Canada.
  • Current Prime Minister: Justin Trudeau
  • Capital: Ottawa
  • Currency: Canadian Dollar

China's President lays out his vision as pivotal meeting begins

  • China's President Xi Jinping laid out a sweeping vision for the country, as he kicked off a pivotal meeting of the ruling elite that's expected to consolidate up his grip on power. The 19th National Congress of the Communist Party of China will see President Xi formally granted a second five-year term as the party's general secretary and a new generation of senior Chinese leaders.
  • Xi listed the country's accomplishments, he briefly touched on the South China Sea, where China has reclaimed land, turning reefs and sandbars into military bases in defiance of an international court ruling.

FIFA U-17 World Cup: Quarterfinal line-up and match schedule

  • FIFA Under-17 World Cup quarterfinals have been set up. On Saturday Mali will face Ghana in Guwahati and the US will meet England in Goa. On Sunday, Spain will take on Iran in Kochi, while Germany will take on Brazil in Kolkata.

Hridaynath Mangeshkar Award for Javed Akhtar

  • Veteran writer-lyricist Javed Akhtar is being honoured with the Hridaynath Mangeshkar Award on the 28th anniversary of Hridayesh Arts and the 80th birthday of veteran music composer Hridaynath Mangeshkar. Akhtar will receive Rs 1,00,000 along with a memento.

IIT Bombay top ranked Indian institute in QS Asia University Rankings 2018

  • The Indian Institute of Technology Bombay (IIT Bombay) has emerged as the only Indian institute to better its performance among the top 100 universities in the latest Quacquarelli Symonds (QS) Asia University Rankings 2018.
  • IIT Bombay saw its best position at 34th rank in the last three years since its 46th rank in 2016. Other Indian institutes like IIT Delhi ranked at 41, IIT Madras (48), Indian Institute of Science (IISc) Bangalore (51), IIT Kanpur(59), IIT Kharagpur (62), University of Delhi (72), IIT Roorkee (93) and IIT Guwahati (98).
  • IISc registered the biggest decline in its positions by 18 places, down from 33 in 2017 to 51 in 2018. Singapore’s Nanyang Technology University has topped QS Asia University Rankings 2018.

India, Brazil, South Africa sign IBSA Trust Fund agreement

  • India, Brazil and South Africa signed the IBSA Trust Fund Agreement that seeks to fight poverty in developing countries. The IBSA Trust Fund brings together the three emerging economies of India, Brazil and South Africa to combat poverty in other developing countries.
  • The agreement was signed by Minister of State for External Affairs V K Singh who led the Indian side at the 8th IBSA trilateral Ministerial Commission Meeting in Durban.
  • Each country contributes USD 1 million annually to this fund which is managed by the UN Development Programme's (UNDP) Special Unit for South-South Cooperation.

Jacinda Ardern to be New Zealand's youngest woman leader

  • New Zealand is to get its youngest-ever female Prime Minister after a minority party threw its support behind Labour leader Jacinda Ardern, who took over the left-wing party only three months ago. The 37-year old will become New Zealand's third female leader.
  • The leader of the anti-immigration NZ First party, announced its support to Ardern in a coalition government, after September's election returned a hung parliament.
  • The Labour-NZ First coalition controls 55 of the 120 seats in the country's parliament and the Green Party supporting it with eight lawmakers cross the 61-mark to pass policies.
  • Capital: Wellington
  • Currency: New Zealand dollar

Kotak Mahindra Bank and Zeta launch Paymint

  • Kotak Mahindra Bank in collaboration with Zeta, a fintech pioneer announced the launch of Paymint – a comprehensive digital platform to manage multiple employee benefits. Paymint, a multi-wallet digital prepaid solutions platform, enables corporates to offer a host of benefits to its employees including meal vouchers, medical reimbursements, leave travel allowances, gift cards, conveyance, fuel allowances, driver salaries and so on to maximise tax benefits for employees and optimise the process of making claims. Paymint offers corporates a single digital interface to manage multiple reimbursements and allowances offered to employees.

North East Small Finance Bank starts operations

  • North East Small Finance Bank Limited which was issued in-principle approval for setting up a small finance bank in September 2015 has commenced operations as a small finance bank.
  • The RBI has issued a license to the bank under the Banking Regulation Act, 1949 to carry on the business of small finance bank in India.
  • Capital Small Finance Bank, Equitas Small Finance Bank, Suryoday Small Finance Bank, Ujjivan Small Finance Bank and Utkarsh Small Finance Bank are the other entities operating in the niche banking space.
  • A small finance bank primarily undertake basic banking activities of acceptance of deposits and lending to unserved and underserved sections including small business units, small and marginal farmers, micro and small industries and unorganised sector entities.

Scientists determine source of world's largest mud eruption

  • Lusi, the world's largest ongoing mud eruption that began on the Indonesian island of Java in 2006 is not stopping soon, say scientists who found that it is connected to a nearby volcanic system. Lusi is connected to the magma chambers of the nearby Arjuno-Welirang volcanic complex through a system of faults six kilometres below the surface.
  • The relentless sea of mud has buried some villages 40 metres deep and forced nearly 60,000 people from their homes. The volcano still periodically spurts jets of rocks and gas into the air like a geyser.
  • It is now oozing around 80,000 cubic metres of mud each day - enough to fill 32 Olympic-sized pools.

Steve Smith is the Highest-Earning Captain In International Cricket

  • According to a recent study, Smith has beaten the Indian captain Virat Kohli to claim the title of the highest-earning captain in international cricket. The Australian captain bags a whopping $1.469 million an year, leaving behind Kohli who earns an approximate salary of $1 million.
  • Though Kohli continues to be the richest cricketer on the planet - with his earnings from the BCCI, brand endorsements and IPL fees - but when it comes to sheer wages, Smith leads the envious list.
  • Ravi Shastri has emerged as the world's highest earning cricket coach with salary close to 1.17 million dollars per year. Shastri’s remuneration is higher than Lehman ($0.55 million) and Bayliss ($0.52 million) by a huge margin.

Sunny Verghese appointed as WBCSD Chair from 2018

  • The World Business Council for Sustainable Development has announced the appointment Mr Sunny Verghese, Co-Founder and CEO of Olam International, as the new Chair of WBCSD. His term begins on 1 January 2018 for a duration of two years.
  • Mr Verghese will succeed Mr Paul Polman, CEO of Unilever, who has been Chairman of WBCSD since 2014.
  • The WBCSD is a global network of more than 200 CEOs who are responsible for a combined revenue of more than US$8.5 trillion and 19 million employees.
  • Member companies and their CEOs are collectively working through WBCSD to accelerate the transition towards sustainable business and a sustainable world.

Three FDI proposals cleared by DIPP

  • The Department of Industrial Policy and Promotion (DIPP) has approved three foreign direct investment (FDI) proposals, including that of Merlin Entertainment-owned Madame Tussauds to undertake single-brand retail.
  • Mountain Trail Foods, which operates the Chai Point outlets, has got approval for food retailing, bringing in FDI inflows of $10 million (Rs 65 crore).
  • Kohler India Corp's proposal for single-brand retail has also been approved. Madame Tussauds is expected to open its first museum in India in Delhi.
  • DIPP has, so far, approved 20 single-brand retail proposals worth nearly Rs 4,900 crore for food product and single-brand retail trading, including those of Amazon, Grofers and Urban Ladder.

Vedanta’s Agarwal setting up $1bn fund for startups

  • Anil Agarwal, executive chairman of Vedanta Resources, plans to launch a venture capital fund worth Rs 6,500 crore ($1-billion) to help young Indian entrepreneurs build their businesses in the natural resources space. The platform will assist entrepreneurs whose ventures are connected with his diverse commodity businesses.
  • Agarwal's Vedanta empire's operations is spread from India to South Africa and engaged in businesses ranging from iron ore, copper, zinc, aluminium, gold, silver and diamond to oil & gas. With revenues of over $15 billion, two third of the group's business comes from India.
  • With this move, Agarwal will joins industrialists such as Mukesh Ambani, N R Narayana Murthy and Azim Premji, who are already financing start-ups.