Current Affairs 11th January 2018 - Banking, SSC, UPSC Affairs

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An official delegation from South Korea and the Gujarat Chamber of Commerce and Industry (GCCI) signed a MoU for co-operation between industries in Gujarat and the East Asian country, with a focus on automobile, defense and textiles sectors. The main objective of the MoU is to help Gujarat-based small and medium enterprises (SMEs) to explore opportunities through joint ventures with South Korean firms, especially in areas of automobile, defense, and textiles.

The Unique Identification Authority of India (UIDAI) introduced a concept of 'Virtual ID' to further strengthen privacy and security of Aadhaar number holders. The Aadhaar number holder can use 'Virtual ID' in place of an Aadhaar number whenever authentication or KYC services are performed. Aadhaar card holder can generate the Virtual  ID  from UIDAI  website and give for various purposes, including SIM card verification, instead of sharing the actual 12-digit biometric ID. The Virtual ID will be a temporary and revocable 16 digit random number mapped to a person’s Aadhaar number.

President Ram Nath Kovind inaugurated a three-day International Dharma-Dhamma conference at Rajgir in Bihar. The conference has been jointly organized by India Foundation, Nalanda University, Ministry of External Affairs, Asean-India and Vietnamese Buddhist Sangha. The inaugural session was chaired by our President. The conference was attended by Sri Lanka’s foreign Minister Tilak Marapana.

Noted rocket scientist Sivan K was appointed as the 9th chairman of Indian Space Research Organisation (ISRO). He has replaced A.S. Kiran Kumar. The appointment has been made for the tenure of three years. He was the Director of Vikram Sarabhai Space Centre, Kerala. Sivan joined the ISRO in 1982 in Polar Satellite Launch Vehicle (PSLV) project.

In the financial year 2016-17, total FDI of US $ 60.08 billion received, which is an all-time high. The Cabinet chaired by PM Narendra Modi has approved amendments in FDI Policy and further liberalized few of the policies of FDI. As per the extant policy, foreign airlines are allowed to invest under Government approval route in the capital of Indian companies operating scheduled and non-scheduled air transport services, up to the limit of 49% of their paid-up capital. However, this provision was presently not applicable to Air India, thereby implying that foreign airlines could not invest in Air India. It has now been decided to do away with this restriction and allow foreign airlines to invest up to 49% under approval route in Air India. The Townships, Housing, Built-up Infrastructure and Real Estate Broking Services It has been decided to clarify that real-estate broking service does not amount to real estate business and is, therefore, eligible for 100% FDI under automatic route.

Flipkart’s payments arm PhonePe partnered mobile wallet company FreeCharge to allow the latter’s customers pay for transactions at PhonePe’s partner merchants. According to the deal terms, PhonePe has now enabled its users to link their existing FreeCharge wallets to the PhonePe app. Once linked, PhonePe customers will be able to spend their FreeCharge wallet balance at all online and offline merchant outlets that accept payments via PhonePe.

Professional player Aditya Mehta won the Kolkata Open 2018 International Invitation Snooker Championship in the capital city of West Bengal Kolkata. This is his third Kolkata Open title since it’s inception. In the thrilling final he defeated Englishman Professional Player Alfie Burden.

Paytm set up a new entity called Paytm Money Ltd that will offer investment and wealth management products and will invest close to $10 million upfront in the new entity. Paytm Money is the fourth product from One97’s stable after Paytm Mall, Paytm Payments Bank and Paytm wallet. It will be available as a separate mobile application to users.

Karnataka topped all states with investment intentions of Rs. 1.49 lakh crore till October 2017,  according to R V Deshpande, Karnataka Minister for Large, Medium Industries and Infrastructure Development The investment was 43 percent of the country's total investment intentions. Karnataka topped in FDI inflows and has performed well in exports, contributing about 40 percent in electronics and software services.

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    Topics covered in the 11th January 2018 Current Affairs are
  • International News,
  • National News (ie. Indian Affairs),
  • important events associated with Science & Technology, Environment,
  • Bills & Acts Passed by Government,
  • Defence News,
  • About important Persons, Places,
  • Banking & Economical News,
  • Awards & Honours,
  • Sports News,
  • Revolutionary Updates on Arts & Culture,
  • Obituary,
  • Summits & Conference,
  • Important Committee,
  • Schemes,
  • Appointments,
  • Important Days & its Theme for Current as well as upcoming Year,
  • Books & Its Authors,
  • Agreements & MoUs,
  • Budget, Taxes,
  • Various Important Lists & Indexes,
  • Visits by World Presidents, Prime Ministers,
  • Political affairs and all Current News.

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