Current Affairs 11th August 2017 - Banking, SSC, UPSC Affairs

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The National Mission for Clean Ganga (NMCG) approved ten projects in Uttar Pradesh, Bihar and West Bengal to the tune of about Rs. 2,033 crore. These projects were approved in the 5th meeting of the Executive Committee of NMCG. NMCG is the implementation wing of National Council for Rejuvenation, Protection, and Management of River Ganga (referred as National Ganga Council). It has a two tier management structure and comprises of Governing Council and Executive Committee. Both of them are headed by Director General(DG).

The 15th Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) ministerial meeting was held in Kathmandu, Nepal. The two-day meet was inaugurated by Prime Minister of Nepal Sher Bahadur Deuba and will be chaired by Deputy Prime Minister and Minister. The BIMSTEC is a sub-regional grouping comprising of seven countries of South Asia and South East Asia. BIMSTEC mainly comprises of seven countries namely Bangladesh, Bhutan, India, Nepal, Sri Lanka,  Myanmar and Thailand lying in the littoral and adjacent countries.

Prime Minister Narendra Modi has stated that India and the United States will co-host the Global Entrepreneurship Summit at Hyderabad from November 28, 2017. The Summit is a unique opportunity for bringing together entrepreneurs and start-ups with global leaders.  It is being organized by the NITI Aayog in coordination with the Ministry of External Affairs.

Softbank fund invests one of its largest shareholders Flipkart Group (Flipkart) India’s leading e-commerce marketplace announced an investment a mix of primary and secondary capital from SoftBank Vision Fund (Vision Fund), the world’s largest technology focused investment fund. This is the biggest ever private investment in an Indian technology company and will make the Vision Fund one of the largest shareholders in Flipkart. The investment was partly used to buy shares of an existing investor Tiger Global and additional capital in the company.

 M Venkaiah Naidu sworn in as the 15th Vice President of India. His predecessor Hamid Ansari and the first vice president S Radhakrishnan had held the post for two consecutive terms. He served as BJP president, a minister in various portfolios and a long-time Rajya Sabha member.

Facebook launched Youtube competitor called ‘Watch’ recently. Watch is a platform for all creators and publishers to find an audience, build a community of passionate fans, and earn money for their work. In the first phase “Watch’’ will be introduced to a limited group of people in the US and plan to bring the experience to more people soon.

The Lok Sabha passed the State Banks (Repeal and Amendment) Bill, 2017.  The bill seeks to repeal the two Acts namely State Bank of India (Subsidiary Banks) Act, 1959, and State Bank of Hyderabad Act, 1956. It is to amend the State Bank of India (SBI) Act, 1955 to remove references to subsidiary banks and powers of State Bank of India (SBI) to act as an agent of the RBI. The Union Cabinet approved the merger of five associate banks along with Bharatiya Mahila Bank with SBI. The five banks were State Bank of Bikaner, State Bank of Patiala, State Bank of Mysore, State Bank of Hyderabad and State Bank of Travancore.

National Skill Development Corporation (NSDC) and Google India launched Android Skill Development Programme to launch mobile app development training on the Android and Web platform and improve the quality of mobile app development ecosystem in India. The 100-hour duration course is designed to be delivered by NSDC’s partner agencies, outside the formal education system. Under the initiative, NSDC would introduce a specific course to create applications for the mobile platform that can be used on smart phones and tablets running on the Android operating system.

Davinder Singh Kang becomes the first Indian to qualify for the final round of the javelin throw World Championships. He had an 82.22m in his opening throw and then came up with 82.14m in his second. He is the first ever Indian who is qualified in the men’s javelin throw final round in any World Championship.

The Multi Commodity Exchange Limited (MCX), the country’s largest commodity exchange has received capital markets regulator Securities and Exchange Board of India’s (SEBI) approval to launch options trading in gold. It will allow investors and hedgers to minimize their price risk at a fraction of the cost compared to currently available futures trading.

Telangana Chief Minister K. Chandrasekhar Rao initiated a Rs. 2,000 crores project that seeks to modernize the project. This project on the Godavari river has the potential to serve several districts in the state. Under this project, water from the Pranahitha river joins the Godavari, will be diverted at Medigadda and pumped into the Sriram Sagar project.

Oxford University Press (OUP) launched online dictionaries in Tamil and Gujarati as part of its special focus on Indian languages. Oxford Global Languages (OGL) is a major initiative from Oxford Dictionaries aims to build dictionaries and lexicographical resources for round 100 of the world's languages and to make them available online.

The National Green Tribunal (NGT) imposed an interim ban on the use of non-biodegradable plastic bags which are less than 50 microns in the entire national level. They issued a fine of fine of Rs 5,000 on anyone found in possession of non-bio degradable plastic bags less than 50 microns, which is the thickness of a human hair.  It also imposed an environment compensation of Rs. 10,000 on vegetable vendors and slaughter houses for throwing garbage in public places.

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  • Visits by World Presidents, Prime Ministers,
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