Current Affairs Daily Updates: 24th February 2017

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Current Affairs Daily Updates: 24th February 2017

APPOINTMENTS
U.K. named Cressida Dick as first woman to lead Scotland Yard
  • Cressida Dick(56) was appointed as the new commissioner of London’s Metropolitan Police. With this, she become the first woman to lead Scotland Yard in 188 year UK history.
  • Dick replace Bernard Hogan-Howe, who is stepping down from the position previous week.
  • She left the police force in 2015 to work at the foreign office, led the security operation for the 2012 London Olympics and was highly regarded by many Scotland Yard peers.
Ms. Suman Saxena takes charge as the Whole Time Member of the Insolvency and Bankruptcy Board of India
  • Ms. Suman Saxena took charge as the Whole Time Member, Insolvency and Bankruptcy Board of India (IBBI).
  • She will look after Research and Regulation Wing comprising Corporate Insolvency, Corporate Liquidation, Individual Insolvency, Individual Bankruptcy, Research and Publications, Data Management and Dissemination and Advocacy.
  • She will also look after National Insolvency Programme, Continuing Professional Programme, and Knowledge Management and Partnership.
AWARDS AND HONOURS
Karnataka Bank bags two awards at IBA Banking Technology Awards
  • City based private sector bank - Karnataka Bank Ltd has bagged two IBA - banking technology awards 2017.
  • The awards are, winner- best financial inclusion initiatives [small bank] category; and runner up - best use of digital and channels technology [small bank] category.
International Hockey Federation awards: John-John Dohmen, Naomi van As best

  • The International Hockey Federation (FIH) awards were given away in Chandigarh on Thursday. John-John Dohmen of Belgium (right) and Netherlands’ Naomi van As were adjudged the best male and female players, respectively.
  • There were two Indians in the fray with Sreejesh among nominees for the best goalkeeper while 20-year-old Harmanpreet Singh, who was part of the junior World Cup-winning squad, was a nominee in the ‘Rising Star of the Year’ category.
  • Complete list of Awardees
    • Male Player of the Year 2016- John-John Dohmen (Belgium)
    • Female Player of the Year 2016- Naomi van As (Netherland)
    • Male Goalkeeper of the Year 2016-  David Harte (Ireland)
    • Female Goalkeeper of the Year 2016 - Maddie Hinch (Britain)
    • Male Rising Star of the Year 2016 - Arthur Van Doren (Belgium)
    • Female Rising Star of the Year 2016- Maria Granatto (Argentina)
    • Male Coach of Year 2016- Danny Kerry (Britain)
    • Female Coach of Year 2016- Karen Brown (Britain)
    • Male Umpire of the Year award 2016- Christian Blasch (Germany)
    • Female Umpire of the Year award 2016- Laurine Delforge (Belgium)
BANKING AFFAIRS
ADB, India ink $500 million loan pact to expand power connectivity
  • India and the ADB has signed a $500 million loan pact to expand inter-regional power connectivity in the country, and strengthen transmission system to accommodate renewable energy-generation capacity.
  • The project, which is expected to be completed by December 2020, will help build 800 kilovolt (kV) and 320 kV High Voltage Direct Current (HVDC) converter stations and 765 kV power transmission systems in India, the multilateral lending agency said in a statement.
  • The loan has a 20-year term, including a five-year grace period with an annual interest rate determined in accordance with ADB's LIBOR-based lending facility, it said.
BUSINESS AND ECONOMIC AFFAIRS
Oriental Bank Ties Up With Chola MS To Sell Insurance Products
  • The Public Sector Oriental Bank of Commerce has signed a corporate agency agreement with general insurance provider Cholamandalam General Insurance Company, for distribution of insurance products.
  • Chola MS will offer a wide range of non-life insurance products to customers of Oriental Bank of Commerce through its branches.
  • The insurance products include motor, health, home and travel.
  • The partnership will greatly benefit our customers and through this alliance, both Oriental Bank and Chola MS seek to fulfil the non-life insurance needs of customers.
BOOKS AND AUTHORS
Amarinder Singh's biography 'The People's Maharaja' released
  • Punjab Congress chief Amarinder Singh's biography, 'The People's Maharaja', was released
  • The authorised biography of the erstwhile scion of Patiala royalty, authored by Chandigarh-based writer Khushwant Singh, sheds a new light on the sequence of events that led to the 1984 army action at Golden temple in Amritsar.
PM releases the book “Judicial Reforms – Recent Global Trends”
  • The Prime Minister, Narendra Modi, released the book “Judicial Reforms – Recent Global Trends” and presented the first copy to President Pranab Mukherjee.
  • The book, written by Dalveer Bhandari, a judge at the International Court of Justice, talks about the need of judicial reforms.
DEATHS
Nobel-winning economist, mathematician Kenneth J Arrow dies
  • Kenneth J. Arrow, the youngest-ever winner of a Nobel prize for economics, whose theories on risk, innovation and the basic mathematics of markets have influenced thinking on everything from voting to health insurance to high finance, has died. He was 95.
  • Arrow and British economist Sir John R Hicks shared the 1972 Nobel memorial prize in economic science for their pioneering mathematical work on general equilibrium theory, which says that there is an overall balance between supply and demand in an economy as a whole.
IMPORTANT DAY OBSERVED
Central Excise Day celebrated on 24 February 2017
  • The Central Board of Excise and Customs (CBEC) on 24 February 2017 celebrated the Central Excise Day across the country.
  • To mark the occasion, the Central Excise officers all over the country organized seminars, workshops, trade interactions and cultural events.
  • The Central Excise Day is celebrated every year to commemorate the Central Excise and Salt Act, which was enacted on 24 February 1944.
INTERNATIONAL AFFAIRS
BRICS summit’s 1st Sherpas Meeting held in China
  • China is hosting the first official BRICS Sherpas Meeting in Nanjing -Jiangsu Province on February 23 and 24 under its chairmanship.
  • The meeting is focusing on the theme of “Stronger Partnership for a Brighter Future” upon considering the current international situation.
  • This event will see a participation of 100 people, including Sherpas, diplomatic envoys in China and the New Development Bank representatives.
  • The Sherpas mechanism, as a main vehicle to coordinate and promote the BRICS cooperation, primarily serves to make political preparations for the BRICS Summit.
  • After the country assumed Sherpas group chairmanship this January, subsequently hosting this event which will discuss BRICS cooperation in 2017, particularly in the political, economic, and cultural sectors.
China overtakes US, France as Germany’s biggest trading partner, for first time
  • China for the first time became Germany’s most important trading partner in 2016, overtaking the United States, which fell back to third place behind France in the data shown recently.
  • German imports from and exports to China rose to 170 billion euros ($180 billion) in 2016, Federal Statistics Office figures reviewed by Reuters showed.
  • France remained the second-most important business partner with a combined trade volume of 167 billion euros. The United States came in third with 165 billion euros.
NATIONAL AFFAIRS
Sikkim becomes 22nd State to join UDAY
  • India’s first fully organic state Sikkim has joined the union government’s Ujwal DISCOM Assurance Yojana (UDAY) as 22 nd state , the so called UDAY will in turn hand it an overall benefit of Rs 356 crore.
  • Upon this decision Sikkim has inked MoU with the union government under the Scheme Ujwal Discom Assurance Yojana (UDAY) for operational improvement of the state’s Power Distribution Department.
  • The MoU will help in improving operational efficiency of the power distribution and reduction in AT&C and transmission losses to 15 per cent and 3.50 per cent, respectively, is possibly to bring in added revenue of around Rs 328 crore.
Kerala to launch sex offenders registry, first in the country
  • The Kerala government also plan to launch the country’s first sex offenders registry which will contain all identification details of sex offenders and would be kept in public domain
  • A comprehensive victim relief fund will be set-up by the state government to provide interim relief for victims of sex crimes, both children and adults.
Union Cabinet apporves agreement between India and Poland for cooperation in agriculture
  • The Union Cabinet has given its approval for signing of an Agreement between India and Poland on cooperation in the field of agriculture and allied sectors.
  • Decision in this regard was taken by the Union Cabinet meeting chaired by the Prime Minister Narendra Modi in New Delhi.
  • The agreement covers various activities in the field of agriculture and allied sector including exchange of information on the current situation in agriculture.
  • It also includes exchange of information on the phytosanitary conditions of crops, threats posed by harmful organisms and animal infectious diseases.
  • The Agreement provides for constitution of a Joint Working Group (JWG) comprising of representatives of both countries. The JWG will prepare plans of cooperation and also provide solutions to the problems arising during the implementation of the Agreement.
Visa signed MoU with AP to make Vizag, India’s first 'less cash' city
  • Global payments network Visa signed a memorandum of understanding (MoU) with the Andhra Pradesh government to help transform Vishakhapatnam into India's first 'less cash' city.
  • This initiative is designed to provide the foundation for the city to emerge as India's 'Fintech Valley'.
International Ayurvedic research Institute planned at Kannur
  • Kerala government has decided to set up a Rs 300 crore international Ayurvedic research institute at Kannur during the 13th five year plan.
  • The project will be implemented with central assistance.
  • Cabinet also decided to set up Kerala Blood Bank society of International standards.
  • It will be set up jointly by Thiruvananthapuram Citizens India Charitable Trust, Health Department with technical assistance of WHO.
  • The government also decided to strengthen the Public Works Department's design, investigation and quality control wings.
President of India inaugurates international conference on ‘Bharat Bodh’
  • The President of India, Shri Pranab Mukherjee inaugurated an international conference on ‘Bharat Bodh’ organized by the Indira Gandhi National Open University and Bhartiya Shikshan Mandal in New Delhi.
  • Speaking on the occasion, the President complimented the Indira Gandhi National Open University (IGNOU) and the Bharatiya Shikshan Mandal for organizing this conference bringing together intellectuals, academicians and researchers to unravel various aspects of the “Bharat Bodh”.
SCIENCE AND TECHNOLOGY AFFAIRS
Astronomers discover 7 new Earth-sized exoplanets that may sustain life
  • Astronomers from NASA (National Aeronautics and Space Administration) for the first time have discovered seven new Earth-sized exoplanets that may be able to sustain life.
  • The planets were detected using NASA’s Spitzer Space Telescope and several ground-based observatories including Trappist robotic telescope at La Silla, Chile.
  • These exoplanets are orbiting dwarf star named Trappist-1, which at 39 light years away.
  • They could have some liquid water and maybe supporting life. Of the seven planets, three are classified as TRAPPIST-1 e, f and g.
  • These three planets orbit in the habitable (so-called Goldilocks zone) where temperatures are suited to surface oceans of liquid water.
  • The star Trappist-1 is at least 500 million years old and has a temperature of 2550K.
  • It is marginally larger than Jupiter and shines with a feeble light about 2,000 times fainter than Earth’s sun.
  • The 6 inner planets lie in a temperate zone where surface temperatures range from zero to 100C. Their masses range from around 0.4 to 1.4 times the mass of the Earth.
  • They are so close to each other that their gravitational fields interact with each other.
  • However, their atmospheres needs more study before determining whether they could support some type of life.
SPORTS AFFAIRS
Ravichandran Ashwin breaks Kapil Dev's record of most wickets in home season
  • Premier off-spinner Ravichandran Ashwin, broked Kapil Dev's Indian record of most Test wickets in a domestic season.
  • Ashwin, the fastest in the world to reach 250 Test wicket mark recently and took his tally of wickets in the current home season to 64 in 10 Test matches broke Kapil Dev's record who took 63 wickets in 13 Tests.