Current Affairs Daily Updates: 14th February 2017

  /  
Mentor for Bank Exams

Current Affairs Daily Updates: 14th February 2017

APPOINTMENTS / RESIGNATIONS
US National Security Adviser Michael Flynn resigns over his contacts with Russia
  • President Donald Trump’s embattled national security adviser Michael Flynn resigned, following reports that he had misled Vice President Mike Pence and other officials about his contacts with Russia.
  • Mr Flynn is alleged to have discussed US sanctions with the Russian Ambassador before President Donald Trump took office.
Nilesh Shivji Vikamsey appointed as ICAI president
  • The Institute of Chartered Accountants of India (ICAI) has elected Nilesh Shivji Vikamsey as president and Naveen N D Gupta as vice-president. They have been elected for the year 2017-18, ICAI said in a release.
  • Vikamsey, who served as vice-president, has been a member of the ICAI since 1985.
  • Gupta has been a chartered accountant for more than 20 years.
  • The council has 32 elected members and eight are nominated by the Central government.
AWARDS AND HONOURS
Indian tabla player Sandeep Das wins 2017 Grammy Award for Best Global Music
  • Indian tabla player Sandeep Das on 13 February 2017 won the 59th annual Grammy Award for the Best Global Music category.
  • He won the award for Yo-Yo Ma’s Silk Road Ensemble ‘Sing Me Home’. Yo-Yo Ma’s ‘Sing Me Home’ features tunes composed by different artists at global level.
  • The album ‘Sing Me Home’ was released as a part of the documentary on Ma’s project titled ‘The Music of Strangers: Yo-Yo Ma and The Silk Road Ensemble’.
70th British Academy Film Awards Winner List
  • BAFTA – British Academy Film Awards. The 70th British Academy Film Awards function was held at Royal Albert Hall in London to honour the best British and international contributions to film in the year 2016.
    • Best Film – La La Land.
    • Damien Chazelle (La La Land) – Best Director.
    • Best Actor – Casey Affleck (Manchester by the Sea).
    • Emma Stone (La La Land) – Best Actress.
59th Annual Grammy Award Winners List
  • Album Of The Year – Adele for ’25’.
  • Record Of The Year – ‘Hello’ by Adele.
  • Song Of The Year – Hello by Adele and Greg Kurstin.
BUSINESS AND ECONOMIC AFFAIRS
L&T and MBDA establish Joint Venture for development of missile systems
  • Engineering conglomerate Larsen and Turbo (L&T) entered into a joint venture (JV) with European defence major MBDA to develop and produce new-generation tactical missiles.
  • The JV named as L&T MBDA Missile Systems will be registered in India.
  • Besides being registered in India, the L&T MBDA Missile Systems will conduct business as an Indian Company and in accordance with the subject of Indian laws.
I-T dept issues refunds of Rs 1.42 cr this fiscal; 41.5% higher than last year, 2016
  • The income tax department has issued refunds of 1.42 lakh crore rupees so far this fiscal. It is 41.5 per cent higher than last year, 2016.
  • The centralised processing centre of the tax department has already processed over 4.19 crore income tax returns and issued over 1.62 crore refunds during the current financial year.
  • Finance Ministry in a release stated that, 92% of the refunds issued are below 50 thousand rupees, due to the high priority given to expeditious issue of refunds to small taxpayers.
  • It stated that, only 2% of refunds less than 50 thousand rupees remain to be issued. The Ministry said that 92% of all I-T returns were processed within 60 days.
Government allocates Rs 500 crore to IPPB for financial-year 2017-18
  • Government has allocated Rs 500 crore to India Post Payments Bank for financial year 2017-18 as it gears up to set up 650 branches across country by September 2017.
  • Government has allocated Rs 125 crore as “capital infusion into corporate entity for India Post Payments Bank” and Rs 375 crore as “grant in aid to India Post Payments Bank (IPPB)”.
  • The total paid up equity of the new bank IPPB is Rs 800 crore, of which the government has already infused Rs 275 crore.
  • Payments banks can accept deposits up to Rs 1 lakh per account from individuals and small businesses.
INTERNATIONAL AFFAIRS
Thailand seeks India’s partnership in pharma, bio-tech
  • Thailand is seeking India’s cooperation in a number of sectors, such as aerospace, automation, medical devices, pharmaceutical, bio-technology and IT/ITes, as it strives to transform into a value-based economy.
  • The Thailand Board of Investment, which has invited 2,500 investors from across countries to its mega seminar Opportunity Thailand 2017 this week, is especially interested in investments from India, an official from the thai government has stated.
  • The India-Thailand Free Trade Agreement being considered by the two countries could play a big role in boosting trade and investments.
Longest elevated bike path in world opens in China
  • The longest elevated bike path in the world has been opened in a city in south-east China.
  • The five-mile long, 16-feet wide bicycle-only pathway – dubbed “the winding viaduct” – has been built in the city of Xiamen.
  • During an initial month-long trial period it will be open from 6.30am to 10.30pm, covering the city’s five major residential areas and three business centres.
  • The route can carry 2,023 cyclists per hour, while 300 hire bikes are available for people who do not have bicycles.
  • Large sections will be sheltered underneath an elevated motor vehicle expressway and 30,000 lights will illuminate the cycleway during the night.
NATIONAL AFFAIRS
India’s first floating elementary school inaugurated on Manipur’s Loktak Lake
  • The first floating elementary school of India named ‘Loktak Elementary Floating School’ has been inaugurated at Langolsabi Leikai of Champu Khangpok floating village on Loktak Lake in Manipur.
  • The school has set up with an aim to provide education to drop outs students as well as illiterate adults.
  • Currently, It is providing education around 40 students from Class I-III.
  • It was built under the initiative undertaken by All Loktak Lake Fisherman’s Union with the support of an NGO People Resources Development Association (PRDA).
  • Loktak lake (lifeline of Manipur) is the largest freshwater lake in northeast India.
Supreme Court convicted Sasikala in disproportionate assets case
  • The Supreme Court of India (SC) overruled a Karnataka High Court’s judgment in a disproportionate assets case related to Sasikala.
  • The ruling of the SC renders Sasikala ineligible to contest Assembly elections.
  • The judgment was delivered by a bench of the apex court comprising Justices PC Ghose and Amitava Roy.
  • The SC delivered the judgment on the basis of appeals filed by Karnataka government and others, including DMK leader K. Anbazhagan.
International Aero India 2017 begins in Bengaluru
  • The International Aero India 2017 begins at Air Force Station, Yelahanka in Bengaluru on 14 February 2017. The 5-day show will conclude on 18 February 2017.
  • Features of International Aero India 2017It is the 11th edition of the biennial International Aero India show. It is considered as Asia’s premier air show.
  • Aero India 2017 will act as a significant platform to bolster business opportunities in International aviation sector.
  • Compared to the previous edition in 2015, the present event is expected to witness an exponential growth due to growing defense related ecosystem in India and the region.
Sachin Tendulkar adopts another village for transformation
  • Indian cricket icon and Rajya Sabha MP Sachin Tendulkar is now set to adopt Donja in Osmanabad (Maharashtra) under the Sansad Adarsh Gram Yojna.
  • Tendulkar has sanctioned over Rs 4 crore from his MPLAD fund for development of Donja.
  • The amount will be spent on development of a new school building, a water Supply scheme that would provide potable water to each household, concrete roads and a sewage line attached to the same.
SCIENCE AND TECHNOLOGY AFFAIRS
ISRO plans Venus mission, wants to revisit Red planet
  • The Indian Space Research Organisation (ISRO) is planning its maiden mission to Venus and its second one to the Red planet.
  • The same is confirmed by the newly allotted budget to the department of space, which shows a 23% increase. The Budget also mentions some provisions under its space sciences section for ‘Mars Orbiter Mission II and mission to Venus’.
SPORTS AFFAIRS
Dutch Women Germaine De Randamie crowned first UFC Women’s Featherweight Champion
  • Netherland native Germaine de Randamie defeated Holly Holm (7-3) to claim the UFC Women’s Featherweight Champion at the UFC 208 in Brooklyn, New York .
  • The featherweight division was newly introduced by the Ultimate Fighting Championship (UFC) in 2016.
Maiden ITTF World Tour event in India to begin in New Delhi
  • The first ever ITTF World Tour event in India has begun at the Thyagaraj Sports Complex in New Delhi.
  • Overall, 80 players (52 in the men's section and 28 in the women's section) have confirmed their participation.
  • The qualification rounds will be held on 14 to 15 February.
  • when as many as 29 Indians will vie to make the main draw beginning 16th
  • The 1.5 lakh US dollar India Open also happens to be the biggest ever ITTF event in terms of prize money.