April 01 & 02 – Current Affairs Quick Gyan

In Current Affairs 2017
April 2, 2016

Dear Friends,

Welcome to the Quick Gyan (QG) Section of D2G. QG is just a glimpse of what happened today all over the world.

Only For Serious Candidates : We strongly recommend you to read the Current Affairs in detail. For your convenience, we have provided quick links under the updates. Make use of it.

Always Keep Yourself Updated!!!

AWARDS AND HONORS

Ahmed Naji to receive PEN/Barbey Freedom to Write Award

Ahmed Naji, an imprisoned Egyptian author and journalist is being given the PEN/Barbey Freedom to Write Award, presented by PEN America.

Ahmed Naji received a two-year sentence in February for “destroying social values,” an allegation tied to the content of his novel “The Use of Life.”
The 30-year-old Naji has written three books and is a contributor to the state-owned Akhbar al-Adab literary magazine, among other publications.
His trial came after Akhbar al-Adab released an excerpt in 2014 from “The Use of Life” that contained explicit sex acts and references to habitual drug use.
The complaint against Naji originated when a reader of Akhbar al-Adab alleged that the excerpt made him physically ill.
Egyptian writers, artists and filmmakers have denounced the jailing of Naji, which followed a 1-year sentence handed to TV presenter and researcher Islam Behery for “defaming religious symbols,” and three years to writer Fatima Naoot for defaming Islam.

Quick Link – Write Award

APPOINTMENTS

Rajiv Gauba takes over as Secretary of Urban Development Ministry

Rajiv Gauba took over as Secretary to the Government of India in the Ministry of Urban Development. Gauba has wide-ranging experience in senior positions at policy-making and programme implementation in the Central and State Governments and in international organizations. Hailing from Punjab, the 1959 born Gauba is a physics graduate from Patna University. He was Chief Secretary, Jharkhand for 15 months before joining the central government today.

Earlier, Gauba served in the central government in the Ministries of Home, Defence, Finance, Environment and Forests and Department of Electronics and Information Technology in senior positions.
Gauba also served in the International Monetary Fund representing the Country for four years on the Board of IMF.
He was Collector and District Magistrate for 7 years in the districts of Gaya, Nalanda and Muzaffarpur.
Gauba joined the Ministry of Urban Development on superannuation of Shri Madhusudhan Prasad on March 31, 2016.

Quick Link – Rajiv Gauba takes over as Secretary

Bhartiya Nabhikiya Vidyut Nigam appoints Kallol Roy as new CMD

Kallol Roy, an expert in a nuclear reactor, appointed as the new chairman and managing director (CMD) of Bhartiya Nabhikiya Vidyut Nigam Ltd (BHAVINI), which is building 500 Mw prototype fast breeder reactor (PFBR) at Kalpakkam near Chennai.

Roy assumed the position on March 31 on the superannuation of P Chellapandi.
According to BHAVINI’s statement, Roy specializes in the field of total maintenance management of reactors.
Prior to his current posting, Roy was heading the research reactor maintenance division, reactor group at Bhabha Atomic Research Centre, Mumbai.
A breeder reactor is one that breeds more material for a nuclear fission reaction than it consumes. The PFBR will be fuelled by a blend of plutonium and uranium oxide, called MOX fuel.
The Rs 5,400 crore PFBR is presently under advanced stage of commissioning achieving a physical progress of around 98 percent.

Quick Link – Kallol Roy as CMD of BHAVINI

BANKING AND FINANCE

Nifty launches new index for mid and small cap stocks

The National Stock Exchange (NSE) added a new index to its broad market indices — Nifty Mid Smallcap 400 — to represent the mid and small market capitalization segments.

The new index will comprise of 400 companies which are the constituents of Nifty Midcap 150 and Nifty Smallcap 250 indices.
The Nifty MidSmallcap 400 is a well-representative index consisting of 150 midcaps and 250 smallcap stocks across 18 sectors.
The new index joins the family of restructured broad-based Nifty indices, which will facilitate the introduction of investment products.
IISL will initially publish the value of the Nifty MidSmallcap 400 at end of the day’s trade and subsequently disseminate it online along with existing indices.

Quick Link – NSE

Banks adopt new rate formula

Consumer loans became cheaper with banks moving to a new way of setting lending rates following RBI’s diktat to ensure faster and effective transmission of its policy rate cuts to borrowers.

A number of banks, including ICICI, Bank of India, IDBI today joined their peers like SBI, HDFC Bank and Axis Bank to make a shift to lending rates based on marginal cost of funds.
Other banks that have adopted a new methodology for calculating lending rates include Kotak Mahindra Bank, Yes Bank and Oriental Bank of Commerce.
Banking major SBI, HDFC Bank, Axis Bank, among others would move to new methodology for setting lending rates from April 1.
RBI had asked banks to price fixed-rate loans of up to three years based on marginal cost of funds from April 1.

Quick Link – New rate formula

Those earning Rs 50 lakh a year must declare assets

The government has issued a new set of income tax return (ITR) forms that require people with an income of Rs 50 lakh and above per annum to disclose their assets.

The new forms are for the assessment year 2016-17.
The finance ministry published a gazette order in this regard and taxpayers can file their ITRs till the stipulated deadline of July 31.
The income tax (I-T) department has introduced fresh reporting columns in the new forms (ITR-2 and 2A) called ‘Asset and liability at the end of the year’, which is applicable in cases where the total income exceeds Rs 50 lakh.
Individuals and entities in this income bracket will have to mention the total cost of such assets.
Immovable assets like land and buildings have to be declared as also movable assets like cash in hand, jewelry, bullion, vehicles, etc. The entity reporting these will also have to describe the “liability in relation” to these.

Quick Link – ITR

INDIAN AFFAIRS

India expects $500M AIIB loan for solar power projects in 2016

India is hopeful of receiving the first loan issued by the newly formed Asian Infrastructure Investment Bank (AIIB) in the second half of the year. The country is looking for funds on lower interest rates for its ambitious solar power project that intends to scale the capacity to 100 gigawatts by 2022.

The loan amount is expected to be approximately $500 million. The AIIB, headquartered in Beijing, without specifically commenting on Indian loan, reiterated its president Jin Liqun statement that the lender bank was developing a project pipeline in a number of countries.

India needs $100 billion for its ambitious solar power projects over next six to seven years. The country hopes to increase its solar power capacity 100 gigawatts, roughly 17 times higher than the existing 5,800 megawatts capacity. With an authorized capital of $100 billion, the AIIB is expected to start its operation in the second quarter of 2016 and lend up to $15 billion a year for the next half a decade. India is the second biggest shareholder in the investment bank after China.

Quick Link – AIIB

India becomes fourth largest spender on defense

India has become the world’s fourth-largest spender on defense, following a 13.1% increase in its 2016-17 defense budget, according to US research firm IHS Inc.

India’s rise in the rankings from the sixth position last year is a result of an increase in expenditure to $50.7 billion, combined with cuts to military spending by Russia and Saudi Arabia, where low oil prices have put considerable strain on their finances.
According to IHS analysis, short-term pressures, caused by increases to military pay and the introduction of one rank, one pension (OROP) are the main reasons for the higher rate of growth in budget allocation to defense.
As a result, spending on the acquisition of military equipment remained largely static in real terms and remains lower than its 2013-14 peak, despite an increase in the overall budget.
The Indian defense budget is expected to reach $64.8 billion by 2020 with procurement expenditure expected to grow faster than overall spending, according to IHS.

Quick Link – IHS In

“Vidyut PRAVAH” App for common people to demand power

Piyush Goyal, Minister of State (IC) for Power, Coal and New & Renewable Energy launched a mobile application ‘Vidyut PRAVAH- Electricity, Price Availability and Highlights’. The mobile application provides highlights of the power availability in the country on a real-time basis.

The Web / Mobile App provides a wealth of information pertaining to the current demand met, shortages if any, surplus power available and the prices in the Power Exchange.
The real-time data and comparison with previous day/year data are also available.
Data from multiple sources, including the States and Power Exchanges, has been made available through a single portal for the convenience of all.
A user-friendly interface, based on the Geographical map of India, facilitates all the consumers /stakeholders in a visualization of the power availability and prices at the overall country level and at States/UTs level.
The Web application can be accessed through vidyutpravah.in. The mobile version will be freely available for download from the Play store for both Android and iPhones

Union Government releases Indian Intellectual Property Panorama

Union Government has released Indian Intellectual Property (IP) Panorama to increase awareness and build sensitivity towards IP in the SME sector, academia and researchers The IP Panorama is a single window interface for information on IP and guidance on leveraging it for competitive advantage. It can be accessed at IP Panorama.

The Indian IP Panorama is a customized version of IP Panorama Multimedia toolkit developed by World Intellectual Property Organization (WIPO), Korean Intellectual Property Office (KIPO) and Korea Invention Promotion Association (KIPA).

Modules of the Indian IP Panorama

(i) Importance of IP for SMEs

(ii) Trademark

(iii) Industrial design

(iv) Invention and Patent

(v) Patent Information.

Quick Link – IP

Reliance Industries launches e-fashion portal Ajio

Reliance Industries Ltd, the oil to yarn conglomerate launched its online fashion portal Ajio.com with the preview of its collection at the ongoing Lakme Fashion Week in Mumbai. Isha Ambani, the director on the board of Reliance Retail, has been closely associated with the online fashion venture from its conceptualization.

The company has said that it will offer the largest collection of private labels for women online, in an earnings presentation in January.
Some 60% of the merchandise it sells, including national and international brands and Indie (ethnic fusion) wear, will be exclusively available on the portal, RIL said in its earnings presentation on Tuesday. The products will be aimed at 18-34-year olds, the presentation said.

Reliance Retail, RIL’s retail arm is the country’s largest modern retailer with revenues of Rs.17,640 crore for 2014-15, of which 54% comes from its 616 stores spread across value retail that includes Reliance Fresh and Reliance Marts. The retailer has a total of 2,621 stores spread across 200 cities which will be part of its e-commerce drive.

Quick Link – e-fashion portal Ajio

Maharashtra first state to join National Cancer Grid

In a major step towards the improvement of infrastructure for a cancer cure, Maharashtra tied up with the Tata Trusts to link all government colleges and medical colleges to the national cancer grid for uniform cancer profiling and quality treatment. Chief Minister Devendra Fadnavis and Tata Trusts chairman Ratan Tata signed a memorandum of understanding (MoU) for this collaboration at Vidhan Bhavan in Mumbai.

On the lines of a similar grid developed in the United States, the Tata Trusts has established a national cancer grid that links all existing and proposed cancer care centers to create a uniform line of treatment for cancer patients across the country.
Maharashtra is the country’s first state to join the initiative.
The CM said the target was to have 50,000 bone marrow donors in the next three years.

Quick Link – Maharashtra with NCG

GOI launches ‘Startup India’ web portal and app

The Union Ministry of Commerce & Industry has launched a portal and a mobile application for Startup India initiative of the Union Government. The portal and mobile application are will provide all the related information to startups across the Ministries of the Government of India at one stop. It would also provide certificates and documents required by the Government for such startups digitally.

The Startup India Hub, which has been established within Invest India, will be a single point of contact for the entire Startup ecosystem which would enable an exchange of knowledge.
It will assist Startups through their lifecycle, in all aspects, such as providing mentorship, incubator facilities, IPR support, funding etc.
The Hub will be operational from 10:00 AM to 5:30 PM on working days and can be reached via the toll-free number: 1800115565 or the email ID: [email protected]
Entities that fulfill the criteria as per the definition of “Startup” and are incorporated/ registered in India, can obtain recognition as a “Startup” to avail various benefits listed in the Startup India Action Plan.

Quick Link – Startup India

Cigarette production halted over health warnings

India’s key tobacco manufacturers have threatened to halt production claiming “ambiguity” over the government’s policy on health warnings displayed on tobacco packs. The Tobacco Institute of India (TII), a lobby group that represents 98% of India’s cigarette industry, said in a statement that they have “unanimously decided to shut all their cigarette factories with effect from April 1 owing to ambiguity on the policy related to revision of Graphic Health Warnings on tobacco product packs.”

April 1st was to be the day when cigarette manufacturers were to ensure that 85% of the surface area of their cigarette packages be covered with warnings on the harm posed by consuming tobacco.
However, a parliamentary panel, that controversially involved members from the tobacco industry, had said last month that these stipulations were “too harsh.”
That 15-member committee also recommended that pictorial warnings be restricted to only 50 percent on both the sides of the cigarette packets and in the case of bidis, chewing tobacco and other tobacco products, the warning be restricted 50 percent of the display area and on only one side of the packet.

Quick Link – Ambiguity

INTERNATIONAL AFFAIRS

US, Saudi Arabia impose a joint sanction on fundraising for terrorists

The US and Saudi Arabia on imposed sanctions jointly on four individuals and two organizations, aiming to disrupt terrorism fundraising operations in South Asia and the Middle East.

The joint action targeted James Alexander McLintock and his Pakistan-based Al-Rahmah Welfare Organisation, Abdul Aziz Nuristani and his Pakistan-based Jamia Asariya Madrassa.
The Treasury said these organizations and individuals provide money for Al Qaeda, the Taliban, Lashkar-e-Tayyiba and other Afghan extremist groups, and the sanctioned have ties across Afghanistan, Pakistan, and Saudi Arabia.
It also said that McLintock and his organization have provided funding to extremists under the false guise of helping orphans.
The sanctions freeze any property they have within US jurisdiction and ban Americans from doing business with them.

Quick Link – US & Saudi

Nuclear Security Summit 2016: Points to Note

Nuclear Security Summit 2016 took place in Washington DC on April 1st, 2016. Leaders include Indian Prime Minister Narendra Modi, British Prime Minister David Cameron, Canadian Prime Minister Justin Trudeau, French President François Hollande, Italian Prime Minister Matteo Renzi, Argentine President Mauricio Macri, Mexican President Enrique Peña Nieto, Chinese President Xi Jinping, Kazakhstan’s President Nursultan Nazarbayev, Japanese Prime Minister Shinzo Abe and South Korean President Park Geun-Hye attended the Summit.

World Leaders underline the importance of the Convention on Physical Protection of Nuclear Material and its 2005 Amendment and the International Convention on the Suppression of Acts of Nuclear Terrorism and will continue to work toward their universalization and full implementation.
Reaffirm the commitment to our shared goals of nuclear disarmament, nuclear non-proliferation and peaceful use of nuclear energy.

Quick Link – Nuclear Security Summit 2016

World Autism Awareness Day – April 2

World Autism Awareness Day on 2 April is aimed at raising awareness about the condition. Every year on this day, thousands of iconic landmarks, skyscrapers, schools, businesses and homes across the world shine bright blue lights in honor of the millions of people affected by autism.

2016 Theme: “Autism and the 2030 Agenda: Inclusion and Neurodiversity”

The Day was designated by the United Nations General Assembly resolution62/139. World Autism Awareness Day, passed in council on 1 November 2007 and adopted on 18 December 2007.

This resolution was passed and adopted without a vote in the UN General Assembly, mainly as a supplement to previous UN initiatives to improve human rights.

Quick Link – World Autism Awareness Day

FOREIGN RELATIONS

India, Lanka sign MoU to supply 150 boats to Mullaitivu fishermen

India and Sri Lanka have signed an MOU to supply 150 boats and fishing equipment to the fishermen of Mullaitivu. Indian High Commissioner Y.K. Sinha and Secretary, Ministry of Fisheries and Aquatic Resources Development W.M.M.R. Adhikari signed the MoU in the presence of Minister of Fisheries and Aquatic Resources Development Mahinda Amaraweera at the Ministry of Fisheries and Aquatic Resources Development.

The Government of India will gift 150 boats and other fishing equipment to 300 beneficiaries in Mullaitivu.
The project will be implemented in consultation with the Ministry of Fisheries and Aquatic Resources Development and relevant local authorities. The total cost of this project is Rs. 100 million.
The Indian High Commission said that it would float a tender to procure the items through a competitive bidding process.

Quick Link – Mullaitivu fishermen

PM Modi discusses bilateral links with Justin Trudeau

Prime Minister Narendra Modi met his Canadian counterpart Justin Trudeau and discussed bilateral ties, their first meeting after the latter swept to power last year. Modi and Trudeau met here on the sidelines of the Nuclear Security Summit.

Last year, Prime Minister Modi had visited Canada when he held extensive talks with the then Canadian Premier Stephen Harper.
Canada had agreed to supply 3,000 metric tonnes of uranium to energy-hungry India under a $254 million five-year deal to power Indian reactors.
The agreement for uranium supply, which came two years after protracted negotiations following the 2013 civil nuclear deal between India and Canada, was signed after comprehensive talks Modi had with Harper in April last year.
44-year-old Trudeau carries one of the most famous names in Canadian political history.

Quick Link – Justin Trudeau

SCIENCE AND TECHNOLOGY

Scientists reveal Zika structure for the first time

Researchers from Purdue University announced a major breakthrough, becoming the first team to determine the structure of the Zika virus. The groundbreaking discovery reveals insights that are critical to finding an effective antiviral treatment or vaccine for the virus. The team, which published a paper on their findings in the journal Science, also identified regions within the Zika virus that set it apart from other insect-borne viruses such as dengue, West Nile, and yellow fever.

The Zika virus, a mosquito-borne disease, has recently been associated with a birth defect called microcephaly that causes brain damage and an abnormally small head in babies born to mothers infected during pregnancy.
It also has been associated with the autoimmune disease Guillain-Barré syndrome, which can lead to temporary paralysis.
In the majority of infected individuals, symptoms are mild and include fever, skin rashes and flu-like illness, according to the World Health Organization.
Zika virus transmission has been reported in 33 countries. Of the countries where Zika virus is circulating 12 have reported an increased incidence of Guillain-Barré syndrome, and Brazil and French Polynesia have reported an increase in microcephaly, according to WHO.
In February WHO declared the Zika virus to be “a public health emergency of international concern.”

Quick Link – Zika virus

ISRO sign a MoU with the AAI to provide scientific parameters for construction of airports

The department of space signs a MoU with the Airports Authority of India (AAI) to provide scientific parameters for construction of airports.

Under the agreement, DoS will provide data on the landscape around the airports.
The DoS will also sign a MoU with postal department to provide space technology helpful in tracking the parcel movements.
The space technology will help make flight operations safer and provide optimum utilization of land.
The DoS has already signed a MoU with Ministry of Urban Development where the space technology will be used in projects like smart cities and housing.
The MoU signed with Ministry of Railways will help in the construction of railway tracks and managing the railway crossings.

Quick Link – AAI

ENVIRONMENT

Asia may face severe water shortage by 2050: Study Suggests

Countries in Asia, including India, may face severe water shortage by 2050 due to rising economic activity, growing populations and climate change, MIT scientists have warned.

There is a “high risk of severe water stress” in much of an area that is home to roughly half the world’s population, scientists said.
Having run a large number of simulations of future scenarios, the researchers found that the median amounts of projected growth and climate change in the next 35 years in Asia would lead to about 1 billion more people becoming “water-stressed” compared to today.
While climate change is expected to have serious effects on the water supply in many parts of the world, the study underscores the extent to which industrial expansion and population growth may by themselves exacerbate water-access problems.
The study was published in the journal PLOS One.

Quick Link – MIT scientists warned

Arvind Kejriwal launched Phase I of Green Delhi initiative

Delhi Chief Minister Arvind Kejriwal launched the first phase of the Green Delhi initiative by planting trees at the Triangular Park near ITO Chowk. The plan deals with steps to improve air quality in the National Capital Region. The initiative was launched in line with a detailed action plan submitted by the Aam Aadmi Party (AAP) government to the Supreme Court after it demanded information on steps being taken to improve air quality and reduce air pollution in the Capital.

The exercise will involve the greening of approximately 120 acres, which includes central verges, side verges and the kutcha portion under flyovers.
Pollution absorbing shrubs such as Thevetianerefolia (Pila Kaner), Nerium oleander (Lal Kaner), Calliandrabrevipes (Powderpuff) and Bougainvilleas and trees such a Ficusinfectoria (Pilkhan), Cassia Siamea will be planted.
The Public Works Department (PWD), in a statement, said the greening will be completed within three months at an estimated cost of Rs. 2 crores.
Only treated water, being made available by the Delhi Jal Board (DJB), will be utilized as part of the initiative.

Quick Link – Green Delhi initiative

MERGERS AND ACQUISITIONS

Flipkart acquires mobile payment startup PhonePe

Flipkart has acquired of PhonePe, a Bangalore based mobile payments company started by its former employees as it looks to build a payment business to catch up with local rivals Snapdeal and PayTM. PhonePe will function as an independent business unit. The details of the transaction were not disclosed, but the deal is not a cash transaction.

Founded in December, Phonepe is building a product where payments can be made by just using a just mobile number.
This is based on Unified Payments Interface (UPI), a new process in electronic funds transfer being launched by National Payments Corporation of India.
Flipkart has made several failed attempts to enter the payments space, through wallet and payment processing gateways. It had previously launched a closed wallet in 2011, however following its shift to a marketplace model in April 2013, it was forced to restrict this wallet to products sold only by WS Retail, a company hived off by Flipkart to comply with India’s FDI regulations on retail.
Flipkart had applied for a license through its payment gateway business Payzippy in July 2013, however, it was unsuccessful to secure a license until the e-commerce major shut Payzippy in November 2014.

Quick Link – PhonePe

OBITUARY

Renowned journalist Babu Bharadwaj died

Renowned writer and journalist Babu Bharadwaj, 68, passed away due to cardiac arrest. Bharadwaj had been a part of prominent print and television media in Kerala. Kalapangalkkoru Grihapadam, a novel penned by him, won the Kerala Sahitya Akademi award in 2006.

Bharadwaj’s other famous works include Pravasiyude Kurippukal, Shavaghoshayathra (novelettes), Puppet Theatre (short story collection), Pravasiyude Vazhiyambalangal and Adrushya Nagarangal.
He was working as the chief editor of the online news portal Dool News.
He had worked with Kairali TV, Chinta Magazine and Media One. He was the first Joint Secretary of Students’ Federation of India.
The writer had also produced a Malayalam movie named Iniyum Marichittillatha Nammal in 1980. It was directed by Chintha Ravi.
Bharadwaj was born at Chemmenchery in Kozhikode in 1948. He studied at Poyilkavu High School, Malabar Christian College, Thrissur Engineering College.

Quick Link – Babu Bharadwaj passes away

Architect Zaha Hadid passes away

The most successful female architect of all time, Zaha Hadid, CEO of Zaha Hadid Architects, died at the age of 65, from a heart attack in Miami.

Hadid was among the most famous and celebrated “starchitects” of her time—a legacy secured in 2004 when she became the first woman and first Muslim to win the coveted Pritzker Architecture Prize, a crowning achievement in the profession.
She received the Sterling Prize in 2010 and 2011. She was honored as a Dame Commander of the Order of the British Empire in 2012—earning her the moniker, “Dame Zaha.”
In 2016, she became the first woman awarded (in her own right) with a Royal Institute of British Architects’ Gold Medal.

Also nicknamed “Queen of the curve,” the prolific architect was renowned for her dynamic neo-futuristic buildings, stadiums, museums, and industrial designs—distinguished for their multi-perspective sinuous forms, and fragmented geometry.

Quick Link – Zaha Hadid passes away

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