APPOINTMENTS

1. Anand Kumar Gupta appointed new Director of NTPC

Anand Kumar Gupta has taken over the charge as director commercial at NTPC. As director commercial, he will be responsible for the activities relating to commercial, international and domestic business development and consultancy business of NTPC.

Gupta (56 years) is graduate in electrical engineering from Moti Lal Nehru National Institute of Technology, Allahabad. He has a career spanning over 36 years of contribution in the company in various positions including those of executive director – incharge of commercial and executive director (Engineering).

2. Sanjeev Sanyal appointed Principal Economic Adviser

Government has appointed noted economist Sanjeev Sanyal as Principal Economic Adviser in the Ministry of Finance. “The Appointments Committee of the Cabinet (ACC) has approved the appointment of Sanjeev Sanyal, former Global Strategist and Managing Director, Deutsche Bank, to the post of Principal Economic Adviser in the Department of Economic Affairs.

3. IDFC MD Vikram Limaye the new CEO, MD of NSE

Leading stock exchange National Stock Exchange has selected IDFC chief Vikram Limaye as its new CEO and Managing Director, two months after the sudden exit of Chitra Ramkrishna from the top post. NSE’s board approved Limaye’s name for the top position but a formal announcement would be made later as some formalities need to be completed from his side.

INDIAN AFFAIRS

4. Rs 10,000 penalty for late filing of income tax returns

As with the presentation of the Union Budget 2017, Finance Minister Arun Jaitley has made it easier for the small tax-payers, the budget has however proposed a fee for delayed filing of income tax return. If the income tax return is furnished after the due date but on or before the December 31 of the assessment year, there will be a fine of Rs 5,000 imposed. In other cases, there will be an imposition of a fine of Rs 10,000.

5. Govt to set up dairy development fund with corpus of Rs 8,000 cr

To augment income of farmers, budget has proposed setting-up of a Dairy Processing and Infrastructure Development Fund with a corpus of Rs 8,000 crores over three years. “Dairy is an important source of additional income for the farmers. A Dairy Processing and Infrastructure Development Fund would be set-up in NABARD with a corpus of Rs 8,000 crores over 3 years.

6. Arun jaitley unveils education reforms, to set up National Testing Agency

Finance Minister Arun Jaitley has unleashed measures to revamp the country’s education system, including setting up a National Testing Agency to conduct all entrance examinations for higher education institutions.

• Unveiling the budgetary proposals for 2017—18 in Parliament, Jaitley said the government proposes to establish a National Testing Agency as an autonomous and self-sustained premier testing organisation to conduct all entrance examinations for higher education institutions.
• This would free CBSE, AICTE and other premier institutions from these administrative responsibilities so that they can focus more on academics, he said.

7. Surajkund International Crafts Mela Kicked off in Faridabad, 20 countries to participate

The 31st edition of Surajkund International Crafts Mela started with amid tight security. To be inaugurated by Haryana chief minister Manohar Lal Khattar, the carnival is a 15-day affair in Faridabad, Haryana. Over 20 countries are participating in the event with Egypt as a partner country this year, 2017 and Jharkhand as the theme state.  Every year, one country becomes the partner country and an Indian state is selected to set the theme of the mela.

8. Govt to launch TIES to fund export infrastructure

A new scheme will be launched in 2017-18 to create infrastructure for exports, a move aimed at reducing transaction costs for traders. A new and restructured central scheme with a focus on export infrastructure, namely, Trade Infrastructure for Export Scheme (TIES) will be launched in 2017-18.

9. UIDAI clamps down on 50 fraud sites offering Aadhaar services

In a massive crackdown on unauthorised agencies offering Aadhaar-related services illegally and charging excessive money from the public, Unique Identification Authority of India (UIDAI) has shut down 12 such websites and 12 mobile apps available on the Google Playstore. The UIDAI has further directed authorities for the closure of another 26 such fraudulent and illegal websites and mobile applications.

10. Rail Museum celebrates 40th anniversary

The National Rail Museum just entered into its 40th year. It houses the largest collection of life-size rail exhibits. It was recently renovated and reopened for public. The museum also has interactive screens, miniature working models to inform the visitors of its main attractions. Its attractions include the saloons of the Maharajas of Indore and Mysore and Fairy Queen, the oldest working steam locomotive still in operation.

11. Sula Fest begins in Maharashtra

The tenth edition of Sula Fest has begun on 03rd February 2017 at the Sula Vineyards in Nashik, Maharashtra. The line-up for the three-day festival, which will also feature professional wine tastings and grape stomping, includes artists Infected Mushroom and Nucleya. Tickets for Sula Fest, which is offering a camping stay facility, range from RS. 1500 to Rs. 4900.

12. Centre of Integrative Oncology inaugurated in New Delhi

The Centre of Integrative Oncology (CIO) was inaugurated at the National Institute of Cancer Prevention and Research (NICPR) at Noida on the eve of world Cancer Day (4th February). The Centre was inaugurated by Dr. Saumya Swaminathan, Secretary, Department of Health Research, Ministry of Health & Family Welfare & Director General, Indian Council for Medical Research and Shri Ajit M. Sharan, Secretary, Ministry of AYUSH in the presence of Prof. Ravi Mehrotra, Director, NICPR-ICMR.

13. NITI Aayog launches India Innovation Index

To make India an innovation-driven economy, NITI Aayog, Department of Industrial Policy & Promotion (DIPP) and Confederation of Indian Industry (CII) together launched a mega initiative “India Innovation Index” that will rank states on Innovations through country’s first online innovation index portal that will capture data on innovation from all Indian states on innovation and regularly update it in real time.

The India Innovation Index Framework will be structured based on the best practices followed in Global Innovation Index (GII) indicators and additionally by adding India-centric parameters those truly reflect the Indian innovation ecosystem.

IMPORTANT DAYS

14. 04 February: The World Cancer Day 2017

A truly global event taking place every year on 04th February World Cancer Day unites the world’s population in the fight against cancer. Taking place under the tagline ‘We can. I can.’, World Cancer Day 2016-2018 will explore how everyone – as a collective or as individuals – can do their part to reduce the global burden of cancer.  It aims to save millions of preventable deaths each year by raising awareness and education about the disease, pressing governments and individuals across the world to take action.

BANKING AND FINANCE

15. HDFC Bank increases cash transaction fees on savings a/cs

The country’s second-largest private sector lender HDFC Bank has decided to steeply increase the fees for savings account holders on a slew of activities involving cash. HDFC Bank has decided to steeply raise the charges on certain transactions, capping cash component in others and also introducing charges on certain transactions from March 1.

The bank has capped the third-party transactions at ₹25,000 a day, reduced the number of free cash transactions at branches to four from five earlier and also raised the fee for non-free transactions by a steep 50 per cent to ₹150, it said on its website.

16. Government appoints 3 whole-time members in IBBI

Government has appointed four nominees, including two joint secretaries, to the Insolvency and Bankruptcy Board of India (IBBI). M S Sahoo, who has served as member of fair trade regulator CCI and markets watchdog Sebi, took charge as IBBI Chairperson.

The nominees are Ajay Tyagi, Additional Secretary at the Department of Economic Affairs, Amardeep Singh Bhatia, Joint Secretary at the Corporate Affairs Ministry, G S Yadav, Joint Secretary at the Department of Legal Affairs and Unnikrishnan, Legal Adviser at the RBI.

INTERNATIONAL AFFAIRS

17. US House of Representatives Introduces H-1B Visa Reform Bill

A legislation has been introduced in the US House of Representatives, which among other things calls for more than doubling the minimum salary of H1B visa holders to $130,000, making it difficult for firms to use the programme to replace American employees with foreign workers, including from India.

The High-Skilled Integrity and Fairness Act of 2017 introduced by California Congressman Zoe Lofgren prioritises market-based allocation of visas to those companies willing to pay 200% of a wage calculated by survey, eliminates the category of lowest pay, and raises the salary level at which H1B dependent employer are exempt from non-displacement and recruitment attestation requirements to greater than $130,000.

18. British PM Theresa May receives UK Parliament’s approval to begin Brexit process

The United Kingdom (UK) Prime Minister Theresa May has received Parliament’s approval to begin the process of Britain’s exit from the European Union (EU) after winning a crucial vote in the House of Commons.

British MPs voted in favour of the European Union (Notification of Withdrawal) Bill after two days of debate by a majority of 384-498 votes in favour to 114 against. The bill now faces further scrutiny in the Commons and the House of Lords before it can become law.

19. Apple to start manufacturing in India

Apple will start making iPhones in India this year. The company seeks to tap into a booming Indian middle class while sales in China slow. Karnataka’s IT minister said Apple had agreed to assemble its hugely popular phones in the southern State, whose capital Bangalore is India’s technology hub. Apple, which has not commented on the minister’s statement, remains a relatively small player in India, where sales of its smartphones lag those of rival Samsung.

20. Right to Information Act comes into force in Sri Lanka

The Right to Information (RTI) Act came into force in Sri Lanka, a piece of legislation aimed at restoring transparency and good governance in a country that has been plagued by corruption and misrule. The government had last week gazetted the categories of public authorities that fall within the purview of the RTI. The authorities are bound to respond to these requests as per the specified guidlines, within a maximum period of 28 days.

SCIENCE AND TECHNOLOGY

21. China successfully tests DF-5C missile with 10 nuclear warheads

China has reportedly tested a new version of a missile that can carry up to 10 nuclear warheads, signaling a major shift in its nuclear capability as Beijing gears up for a possible military showdown with the US under Trump Presidency. The flight test of the DF-5C missile was carried out last month using 10 multiple independently targetable reentry vehicles, or MIRVs, the Washington Free Beacon reported.

22. NASA spots farthest galaxies powered by massive black holes

NASA’s Fermi Gamma-ray Space Telescope has identified the farthest gamma-ray blazars, a type of galaxy whose intense emissions are powered by supersized black holes.

Light from the most distant object began its journey to us when the universe was 1.4 billion years old, or nearly 10 percent of its present age, and experts say they could shed fresh light on how black holes form.

23. Gujarat Technological University sets up centre of excellence in automation technologies

German technology major, Bosch Rexroth-funded India’s first Centre of Excellence in i 4.0 Automation Technology opened at the Vishwakarma Government Engineering College under Gujarat Technological University in Ahmedabad. The Center of Excellence will be open for students of engineering students from across the state and also for the industry to conduct research in automation and hydraulics.

OBITUARY

• Former CBI chief Joginder Singh passes away

Former CBI director Joginder Singh passed away after prolonged illness. His cremation is scheduled to take place on February 4 at 1 pm at the Lodhi Crematorium in New Delhi. An IPS officer, Singh was the CBI director between 1996 and 1997. He was serving as an Independent Non-Executive Director of Sunil Healthcare Ltd. since January, 2000 and also served as the Director of Pamwi Tissues Ltd.

25. Veteran theatre personality Asim Basu passes away

Eminent stage craft director, theatre personality, actor, director, artist, painter and writer Asim Basu passed away after a prolonged illness. Basu was closely associated with the art and culture scene of Odisha for over five decades. He was 82. Basu has received the state Sangeet Natak Akademi Award in 1998.