Today Current Affairs 7th September 2017

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A joint military training, Exercise Yudh Abhyas-2017 will be conducted at Joint Base Lewis McChord, Washington, the USA from 14 to 27 September 2017 between India and the USA. It is one of the largest joint running military training and defence corporation endeavors between India and USA. This is the 13th edition of the joint exercise hosted alternately between the two countries.

SBI Life Insurance received approval from the Securities and Exchange Board of India for an IPO (Initial Public Offering) of up to Rs 8,400 crore ($1.3 billion). It involves 120 million secondary shares or 12 per cent of the insurer's equity capital. State Bank of India which currently owns 70.1 per cent of the insurer, will sell 80 million shares and BNP Paribas Cardif, holder of a 26 per cent stake, will sell 40 million.

Exide Life Insurance announced a partnership with Punjab & Maharashtra Co-operative Bank (PMC Bank) to offer its protection and savings products to the latter’s customers. It is a multi-State scheduled urban cooperative bank with 127 branches spread across Maharashtra, Delhi, Karnataka, Goa, Gujarat, Andhra Pradesh and Madhya Pradesh. Exide Life Insurance works with around 50 banks. Exide Life Insurance Company Limited commenced its operations in 2001-02.

India’s first operational Smart City and IFSC, Gujarat International Finance-Tec City (GIFT City) won the prestigious Associated Chambers of Commerce and Industry of India (ASSOCHAM) Services Excellence Award. It was honoured for its contribution to the growth of the International Financial Services and Technology Hub in India. GIFT City, India’s first International Financial Services Centre (IFSC), is operational with approximately 10 leading banks, 2 international exchanges (India INX and NSE IFSC), around 100 capital market players and 8 insurance companies having established their operations.

Energy Efficiency Services Limited (EESL) under Ministry of Power, Government of India has launched UJALA (Unnat Jyoti by Affordable Lighting for All) Scheme in the State of Melaka, Malaysia. The Scheme was launched by Chief Minister of Melaka Datuk Seri Utama Ir. Hj. Idris Bin Hj. Haron. Under this scheme, each household in Melaka will get 10 high-quality 9-watt LED bulbs.

State-owned Bharat Sanchar Nigam Limited (BSNL) entered into an agreement with US-based networking solutions provider Coriant to chart the path to 5G and Internet of Things (IoT) in India. The MoU was signed between BSNL and Coriant for laying the foundation for innovation in network architectures and services leveraging 5G, IoT, Software Defined Networking/Network Functions Virtualization (SDN/NFV) and mobile edge computing technologies. “5G represents an enormous leap forward in capacity and throughput speeds, and we are pleased to team with our long-term technology partner Coriant to tap into these capabilities and explore real-world use cases for next-generation services and applications.

India will host the 2019 edition of the Commonwealth (Youth, Junior and Senior) Weightlifting Championships. The Executive Board of Commonwealth Weightlifting Federation decided to allot the 2019 edition of the competitions to India. The current edition of the tournament is being held at the Gold Coast, Australia. India's Saikhom Mirabai Chanu (85kg) and K Sanjita Chanu (53kg) bagged a gold medal.

Hinduja Group flagship company Ashok Leyland signed a MoU with Rosoboronexport, Russia to supply tracked vehicle solutions to the armed forces. Rosoboronexport (ROE) is the only State organisation in Russia for export of the entire range of military products and technologies. Another MoU is signed with the ELCOM Group which is also emerging as a significant player in strategic electronics, avionics and tactical communication globally.

National Institution for Transforming India Aayog constituted an Expert Task Force to provide a major thrust to job creation by enhancing India’s exports. The NITI Aayog team is led by Vice Chairman Dr. Rajiv Kumar. The 15-member 'Task Force on Employment and Exports' consists of secretaries from various government departments, industry experts and economists. The task force will give sector-specific recommendations in key employment sectors for policy interventions and suggest measures to enhance trade in services with high employment potential.

The book of Former Foreign Secretary Shyam Saran named “How India Sees the World: Kautilya to the 21st Century” launched by former Prime Minister Dr. Manmohan Singh. The book records the crucial meeting of the CCS (Cabinet Committee on Security) on the eve of India-Pakistan Defence Secretary-level talks in May 2006.

Nirmala Sitharaman, Union Minister of Commerce and Industries took charge as the country’s new Defence minister in New Delhi. She is the country’s first full-time woman defence minister. Former Prime minister Indira Gandhi also held the defence portfolio as an additional charge.

Gujarat’s Chief Minister Vijay Rupani flagged off the ‘Ma Narmada Mahotsav Yatra’ from Surendranagar which will cover 24 districts, 7 cities & over 7200 villages. Notably, the two weeks long ‘Ma Narmada Mahotsav Yatra’ is being celebrated after the completion of Sardar Sarovar Dam on the Narmada river. The dam finally completed fifty-six years after the foundation stone laid by the state government on June 17 got permission from the Narmada Control Authority to close all the 30 gates of the dam, raising its height to 138.68 meters. Prime Minister Jawaharlal Nehru laid the foundation stone for the dam in the year 1961.

United States of America (USA) proposed a range of new sanctions against North Korea, including an oil ban and a freeze on leader Kim Jong-un's assets. They drafted a UN resolution in response to Pyongyang's latest nuclear test which will be considered by members of the UN Security Council. The draft calls for bans on supplying a range of oil products to North Korea and purchasing its textile exports.

India and Japan agreed to collaborate closely in defence production, including on dual-use technologies. Defence Minister Arun Jaitley and his Japanese counterpart Itsunori Onodera signed the agreement during India-Japan annual defence ministerial dialogue in Tokyo. The two countries resolved to ramp up overall military engagement under the bilateral special strategic framework.  The countries agreed to commence technical discussions for research collaboration in the areas of Unmanned Ground Vehicles and Robotics. India planned to buy the US-2 ShinMaywa aircraft from Japan for its navy.  

Reliance General Insurance received in-principle approval from the Insurance Regulatory and Development Authority of India (IRDAI) for its initial public offering (IPO). Currently, ICICI Prudential Life is listed on the stock exchange, while Max Life insurance is indirectly listed through holding company Max Financial Venture. It is a firm which is a 100 per cent subsidiary of Reliance Capital, is expected to list during the ongoing fiscal.