Current Affairs 15th September 2016 - Banking, SSC, UPSC Affairs

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Meghalaya Governor V Shanmuganathan was sworn in as the governor of Arunachal Pradesh. Chief Justice of the Gauhati High Court Justice Ajit Singh administered the oath of office to Shanmuganathan in the presence of Chief Minister Pema Khandu, his cabinet colleagues, besides a host of civil and police officials.  Shanmuganathan, who had arrived in Itanagar, visited the Itafort, Buddhist Gompa and Jawaharlal Nehru State Museum.  

Task force headed by NITI Aayog Vice-Chairman Arvind Panagariya to prepare a road map for elimination of poverty submitted its report to the Prime Minister's Office (PMO) on 11 September 2016. It has suggested setting up a committee to identify people Below Poverty Line (BPL). It also suggested participation from states in defining the BPL population. The other members of the task force were Aayog Member Bibek Debroy and secretaries from ministries of rural development, housing and urban poverty alleviation. It asked for constitution of a new committee, which in participation with the states and other stakeholders should work on defining the BPL population and identify them. It also suggested four options for tracking the poor and they are It asks to continue with the Tendulkar poverty line. It asks to switch to the Rangarajan or other higher rural and urban poverty lines. It calls to track the progress over time of the bottom 30 percent of the population It asks to track progress along specific components of poverty such as nutrition, housing, drinking water, sanitation, electricity and connectivity.

President Pranab Mukherjee has presented the Rajbhasha awards at Rashtrapati Bhawan  on 14 September 2016. The awards were given away on the occasion of Hindi Divas. The Rajbhasha awards were instituted by the Department of Official Language of Home Ministry to recognize the excellent contribution of Ministries, Departments and Nationalized Banks in the field of Hindi. Hindi Divas is celebrated annually on 14 September because on this day in 1949 the Constituent Assembly of the country adopted Hindi language as the official language of India.

Indian Cyclists won six medals, including three gold, two silver and one bronze on the opening day of the Track Asia Cup 2016 in New Delhi. The medal winners for India include Deborah Herold, Kezia Vargheese, Alena Reji, Rajkumari Devi, Nayana Rajesh and Anu Chutia. Deborah Herold won two gold medals at the Indira Gandhi Sports Complex Velodrome. Her first gold came in women’s elite 500 by clocking 35.964 seconds. Mohd. Adnan Farina Shawati of Malaysia and Yin Yin from Hong Kong bagged the silver and bronze medals respectively. Her second Gold came in team sprint women elite event, where the Indian team comprising Deborah Herold and Kezia Vargheese defeated the team from Kazakhstan to bag the gold medal. A bronze medal was awarded to Rajkumari Devi, due to walkover at the women elite pursuit 3kms event. In men's elite team sprint event, the team from Iran bagged gold with a time of 46.330 followed by team Malaysia and team Kazakhstan bagging the silver and bronze medal respectively with timing of 47.999s and 47.641s. The Indian team finished fourth in the event. On the other hand, in the men’s junior team won silver in the sprint event by defeating the team from Kazakhstan with a time of 49.299s. The junior women's team bagged gold in the Team Sprint event, Nayana Rajesh and Anu Chutia defetaed the team from Uzbekistan with a timing of 37.452s. Another star for India was Alena Reji, who was taking part in her first international event as she won a silver beating Jantuganova Olga from Uzbekistan. Anis Amira from Malaysia won the gold medal in this event with a timing of 38.443s. At the end of the first day of the championship, India and Malaysia shared the top spot with three gold, two silver, one bronze medal each. Hong Kong, with three gold and two bronze, stand second in the tally followed by Iran with one gold. Track Asia Cup : The Track Asia Cup cycling completition is being held from 14 September to 16 September 2016 at the Indira Gandhi Sports Complex velodrome. This is the third year in succession that India is hosting the event. The event is recognised by the International Cycling Federation and is part of the World Championship qualifier. The event is being held in four categories namely elite and juniors in men and women’s.

Vijay Goel, Union Sports Minister, Janardan Singh Gehlot, President of International Kabaddi Federation, on 14 September 2016 formally unveiled the logo of the 2016 Kabaddi World Cup. The logo is derived from the natural heritage of Gujarat, the Asiatic Lion, symbolising the ferocity of a Kabaddi defender and the agility of a raider. The 2016 Kabaddi World Cup will be held at The Arena by TransStadia in Ahmedabad from 7 October to 22 October 2016. A total of 12 teams including hosts India will compete for the top honours in the tournament, which has been divided into two groups of six teams each. The teams will play in a round robin league format, while the semi-finals will be played on 21 October 2016 and the final is slated for 22 October 2016. The participating countries are: USA, Thailand, UK, Australia, Iran, Poland, Argentina, Bangladesh, South Korea, Kenya and Japan. Kabaddi World Cup :  Kabaddi is a contact sport that originated in Ancient India. India always dominated the event by winning all the gold medals in both men's and women's category.Kabaddi World Cup was first played in 2004, then in 2007 and then annually from 2010 onwards. 2004 and 2007 were played in Standard Style and other years in Circle Style. World Cup 2015 was cancelled because of 2015 Guru Granth Sahib desecration controversy.Sri Muktsar Sahib in Punjab was the host of the Kabaddi World Cup 2014.The winner of the Kabaddi World Cup 2014 was India. New Zealand was the Runner-up. Pakistan stood on the third place.

Japanese automobile maker Isuzu Motors has announced the appointments of Hiroshi Nakagawa as the Chairman of Isuzu Motors India (IMI) with immediate effect on 14 September 2016. Hiroyasu Miura, the erstwhile Chairman of IMI will take over as the Chairman and Managing Director (CMD) of Isuzu Engineering Business Centre India Pvt Ltd (IEBCI) with immediate effect. Nakagawa has been actively involved in Isuzu business division for over 20 years in key Isuzu markets. Isuzu Motors :  Isuzu Motors Limited is a Japanese commercial vehicles and diesel engine manufacturing company headquartered in Tokyo. Its principal activity is the production, marketing and sale of Isuzu commercial vehicles and diesel engines.The company was established in 1916.  In 1934, the company fused with the carmaker and was renamed Isuzu, after the Isuzu River.  By 2009, Isuzu had produced over 21 million diesel engines, which can be found in vehicles all over the world. Isuzu diesel engines are used by dozens of manufacturers, to include Ford Motor Company and Renault-Nissan Alliance.  

The United States has signed a 38 billion dollars deal with Israel to provide the country with military assistance over a 10-year period, from 2019 to 2028 on 14 September 2016. The deal is the largest such agreement the US has ever had with any country. Under the terms of agreement, Israel will receive 3.8 billion dollars a year from the US. At present US gives 3.1 billion dollars to Israel annually under a 10-year deal that ends in 2018. Following 10 months of tense negotiations, the two allies finalised the memorandum of understanding (MoU) with a signing ceremony in Washington. It was signed with the hope that this contribution would help in security.

Anil Ambani-led Reliance Communications and Maxis Communications Berhad (MCB), promoters of Aircel, on 14 September 2016 agreed to merge their wireless businesses to form the fourth-largest telecom operator in the country. The merger is termed as the biggest consolidation deal in India's telecom sector. Highlights of the merger : R-Com will demerge its wireless business and transfer it to the new entity. Its standalone business will focus on the enterprise segment and data centre businesses. Sistema will continue to hold 10 per cent in standalone R-Com.Both R-Com and Maxis will hold 50 per cent each in the new entity. The merged company will be one of India’s largest private sector companies. It will have an asset base of over 65000 crore rupees and net worth of 35000 crore rupees.The entity will enjoy substantial benefits of scale driving significant revenue growth, and capex and opex synergies with a net present value of 20000 crore rupees. The company will be managed by an independent professional team under the supervision of the board.After completion of the merger in 2017, RCom’s overall debt will reduce by 20000 crore rupees or over 40 per cent of its debt.Aircel’s debt will reduce by 4000 crore rupees.The entity will have the second-largest spectrum holding amongst all operators, aggregating 448 MHz across the 850, 900, 1800 and 2100 MHz bands. It will enjoy enhanced business continuity through extended validity of spectrum holdings till 2033-35.

International Day of Democracy was observed with theme Democracy and the 2030 Agenda for Sustainable Development. The day provides an opportunity to review the state of democracy in the world on 15 September 2016. The 2016 theme of the day is based on the United Nations resolution that was adopted in September 2015 by all 193 Member States that is the 2030 Agenda for Sustainable Development. The 2030 agenda seeks to achieve a better future for all by ending extreme poverty, fight inequality and injustice, and protect Earth. International Day of Democracy : It was created by the UN General Assembly through a resolution in 2007 to strengthen national programmes devoted to the promotion and consolidation of democracy.It was observed for the first time in 2008. Though the word Democracy is nowhere is mentioned in the UN Charter of 1945, the UN has played a pivotal role in nurturing Democratic values, practices and institutions.The theme for the 2015 was: Space for Civil Society.

Gionee mobile phones would now be manufactured in Haryana as the company has signed an MoU with the state government to set up its phone manufacturing hub with an initial investment of Rs 500 crore which, later on, would be increased to Rs 1,500 crore.  The Memorandum of Understanding (MoU) was signed in the presence of Chief Minister Manohar Lal Khattar and state industries minister Vipul Goel by Chairman, Gionee Mobiles, Liu Lirong and Haryana State Industrial and Infrastructure Development Corporation (HSIIDC)  Mobile Manufacturing Hub would be set up over an area of 40-50 acres in Faridabad and would provide employment to 28,000 people in next three years.  This would be a major project in Faridabad and more such projects would come up in other areas of the state. Gionee : Gionee is a Chinese smartphone manufacturer based in Shenzhen, Guangdong. Founded in 2002,it is one of China’s largest mobile phone manufacturers. According to Gartner, its market share in China was 4.7% in 2012, and it has expanded into other markets, including Taiwan, India, Bangladesh, Nigeria, Vietnam, Myanmar, Nepal, Thailand, the Philippines and Algeria.

Realty player Wadhwa Group has tied-up with e-commerce platform Sanpdeal to make its properties accessible to customers online. Snapdeal will showcase the Group’s project ‘Elite’ in partnership with Terraform Realty, which features 1, 2, 2.5 and 3 BHK apartments and an array of amenities. Snapdeal with their ever expanding customer base forms a perfect platform for us to showcase our upcoming properties.

Spiritual leader Sri Sri Ravi Shankar will be honoured with a humanitarian award by a prominent Jewish human rights organisation for promoting human dignity, interfaith relations and tolerance among people. The Art of Living founder will be conferred with Simon Wiesenthal Centres highest honour the Simon Wiesenthal Humanitarian Laureate at a ceremony in New Delhi on September 21. Ravi Shankar has joined hands with the Jewish human rights organisation in its activities in the past and had even issued a joint statement, denouncing the widespread marketing of Hitlers book, Mein Kampf, as a management tool in India in 2009. The organistations exhibit traces the 35 centuries of the Jewish peoples relationship with its land, emphasising the universal and particularistic values that inspired the unique journey of the Jewish people throughout history and inspired Jews to retain an unbreakable bond and love for their ancestral homeland. The first such exhibit was co-organised with UNESCO, gaining UN approval, and sponsored by the governments of Israel, Canada and the United States. It has also been presented at UNESCO Headquarters in Paris, the UN Headquarters in New York, the Vatican, the US Congress, Israels Knesset (parliament) as well as in Copenhagen and Chicago. 

Andhra Pradesh has become the second state in the country after Gujarat to achieve 100 per cent electrification of households. JM Financials published the report based on a national -level survey on electrification in various states. About 35 per cent rural households in states like Uttar Pradesh, Madhya Pradesh, Bihar, Odisha and Assam still lacked access to power supply.The Chief Minister asked the Department officials to chalk out an action plan to be implemented from the grassroots level so as to make the power sector self-sufficient in the long run.’ An investment of Rs 20,000 crore has been proposed over the next five years to strengthen the transmission and distribution systems and extend power supply connection on demand.Energy efficiency and conservation activities would also be taken up in a big way in all government departments and other sectors.

Writer Meghna Pant will be honoured with Kumaon Literary Festival's FON (Fellows of Nature) South Asia Short Story Award in Nature writing in October for her short story "People of the Sun."  The annual travelling literary festival gives this award in partnership with the French Institute of India and Wildlife Trust of  India to "revive nature writing and bring the spotlight on critical environmental issues like climate change through this form of literature. The award was founded to build a community of writers who can become instrumental in reviving interest in nature writing and at the same time build awareness among public in order to facilitate the conservation of our surroundings  The organizers also announced the first and second runners up - Shabir Ahmad Mir from Jammu and Kashmir and Vrinda Baliga from Hyderabad respectively.   

The Sports Authority of India (SAI) and All India Football Federation (AIFF) have jointly launched an online portal for its Global Scouting Programme (GSP).  The portal was launched by Union Sports Minister Vijay Goel in New Delhi. Under the Global Scouting Programme, boys of Indians living abroad will be able to play in India’s team in FIFA under-17 world cup scheduled in 2017 in different cities of the country.  The online portal of GSP will allow applicant have to upload a two minute playing video on the site. It will provide Indian players who hold valid Indian passport a chance to present his playing talent to the scouts of India’s U-17 team.

India has complained to the World Trade Organization (WTO) about support given to the renewable energy industry in United States.  The complaint alleges these 8 states in US have prop up their renewable sector with illegal subsidies and domestic content requirements, an obligation to buy local goods rather than imports.  These 8 US states are Washington, Montana, California, Massachusetts, Connecticut, Delaware, Michigan and Minnesota. By filing the complaint, India has triggered a 60-day window for US to settle the dispute, after which India could ask the WTO to adjudicate. Earlier in 2013, India had filed questions at the WTO about suspected subsidies in solar programmes in four US states—Delaware, Minnesota, Massachusetts and Connecticut.  It also had raised questions about local content requirements in Michigan and California’s renewable energy programmes. In May 2016, India lost a case at the WTO after the US complained about India’s national solar programme over illegal subsidies and domestic content requirements. India has appealed that ruling.

Fortune has released list of most powerful women based outside the US on 13 September 2016. The list was topped by Banco Santander's Ana Botin. The 2016 list spans 19 countries and is comprised of 16% new names. Indian’s in the list include top women bankers, namely SBI chief Arundhati Bhattacharya (2nd rank), ICICI head Chanda Kochhar (5th rank) and Axis Bank CEO Shikha Sharma (19th rank). Top 10 women in the list are :  Ana Botin : Group Executive Chairman, Banco Santander. She is a resident of Spain. Arundhati Bhattacharya : Chairperson, State Bank of India. She is a resident of India.  Isabelle Kocher : CEO, Engie. She is a resident of France. Chua Sock Koong : Group CEO, Singapore Telecommunications. She is a resident of Singapore. Chanda Kochhar : Managing Director and CEO, ICICI Bank. She is a resident of India. Alison Cooper : CEO, Imperial Brands. She is a resident of U.K. Guler Sabanci : Chairman, Sabancı Holding. She is a resident of Turkey. Ho Ching : Executive Director and CEO, Temasek. She is a resident of Singapore. Annika Falkengren : CEO and President, SEB Group. She is a resident of Sweden. Omella Barra : Co:COO, Walgreens Boots Alliance. She is a resident of U.K.

Gautam Gambhir-led India Blue won the inaugural day/night Duleep Trophy Cricket tournament held in Greater Noida on 14 September 2016. In the final, India Blue defeated India Red, captained by Yuvraj Singh, by a massive 355 runs. Ravinder Jadeja, who bagged 5 wickets in the second innings, finished the game with a 10-wicket haul.Cheteshwar Pujara was named the Player of the Match. Duleep Trophy : The Duleep Trophy is a domestic first-class cricket competition played in India between teams representing geographical zones of India.The competition is named after Kumar Shri Duleepsinhji of Nawanagar. The 2016–17 Duleep Trophy was the 55th season of the Duleep Trophy. In June 2016, the Board of Control for Cricket in India (BCCI) announced that the tournament will feature day/night matches and pink ball will be used. The tournament was contested by three teams, namely India Red, India Blue and India Green.

India and Afghanistan has signed an Extradition Treaty to facilitate exchange of wanted terrorists and criminals on 14 September 2016. The two nations also inked agreements on peaceful uses of outer space and on cooperation on civil and commercial matters. The treaties were signed during Afghanistan President Ashraf Ghani’s visit to India. He was on a visit to India from 14-15 September 2016. In addition, during the meeting the two leaders President Ghani and Prime Minister Narendra Modi sought faster implementation of the trilateral agreement among Afghanistan, Iran and India. This agreement was reached in May 2016 with an aim of creating a network of regional connectivity around Iran’s Chahbahar port. Besides, India also extended a one-billion dollar to Afghanistan for capacity and capacity building in areas like empowerment of women, education, skill development, health, energy and others. Prime Minister Modi also proposed to supply world class and easily affordable medicines from India and cooperation in solar energy through mutually agreed instruments.

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