Current Affairs Daily Updates: 6th and 7th April 2017

  /  
Mentor for Bank Exams
Current Affairs Daily Updates: 6th and 7th April 2017
APPOINTMENTS
RBI appoints Smt. Malvika Sinha as New Executive Director
  • The Reserve Bank of India has appointed Smt. Malvika Sinha as Executive Director (ED).
  • As Executive Director Smt. Sinha will look after Foreign Exchange Department, Department of Government and Bank Accounts and Internal Debt Management Department.
  • Smt. Malvika Sinha holds a Masters Degree from University of Bombay and has done her Masters in Public Administration. She is also a Certificated Associate of Indian Institute of Bankers.
  • Smt. Sinha joined Reserve Bank in 1982 and as a career central banker served in the areas of regulation and supervision, foreign exchange and Government and Bank Accounts in the Bank. Prior to being promoted as ED, Smt. Sinha was Principal Chief General Manager, Department of Co-operative Banking Supervision in the Reserve Bank.
Raman Roy is new NASSCOM chairman for 2017 - 2018
  • The National Association of Software and Services Companies (NASSCOM) said Raman Roy has been appointed as its chairman for 2017-2018.
  • Roy, Chairman and Managing Director of Quatrro, has been a member of Nasscom’s Executive Council and was the vice-chairman for 2016-17.
  • Nasscom also announced the appointment of Rishad Premji, Chief Strategy Officer and Member of the Board, Wipro Limited, as the Vice Chairman of Nasscom for 2017-18.
  • Roy takes over from CP Gurnani, CEO of Tech Mahindra.
AWARDS AND HONOURS
World Wide Web Inventor wins computing's 'Nobel Prize'
  • Tim Berners-Lee, the man credited with inventing the world wide web, has been honored with the 2016 Turing Award.
  • The award, which is often referred to as the Nobel Prize for the computing industry, is present annually by the Association for Computing Machinery (ACM) to an individual who made “major contributions of lasting importance to computing.” It is named in honor of British mathematician and scientist Alan Turing and backed by a $1 million prize courtesy of Google.
  • The award will presented to Berners-Lee, who is founder of the World Wide Web Consortium (W3C) and the World Wide Web Foundation, at the ACM’s annual banquet in San Francisco on June 24.
  • Vint Cerf and Bob Kahn, known as ‘Fathers of the Internet’ for their creation of the TCP/IP protocol, are among previous recipients of the Turing Award, which was first awarded in 1966.
Kohli named Wisden’s leading cricketer in the World for 2016
  • Indian captain Virat Kolhi was named Wisden’s Leading Cricketer in the World for 2016.
  • Kohli amassed 1215 Test runs at a stupendous average of 75.93 last year.
  • Ten ODI appearances fetched him 739 runs at 92.37, while he scored 641 T20 International runs at 106.83.
  • Only six batsmen have ever scored more international runs in a calendar year than Kohli but none of them have come close to the Indian captain’s average.
  • “Virat Kohli, who features on the cover of the 2017 edition of the Wisden Cricketers’ Almanack, is also the Leading Cricketer in the World for 2016, an accolade put in place in 2003 when Ricky Ponting became the first honouree,” Wisden announced.
  • Kohli has already been declared Wisden India Almanack’s Cricketer of the Year for the second time in its 2017 edition.
64th National Film Awards - 2017
  • The 64th National Film Awards saw the best of Indian cinema being honoured.
  • There were 344 feature films in 26 languages from which the awards were chosen this year.
  • Feature Films Awards:
    • Best Actor: Akshay Kumar (Rustom)
    • Best Actress: Surabhi Lakshmi (Minnaminungu)
    • Best Director: Rajesh Mapuskar (Ventilator)
    • Best Film on Social Issues: Pink
    • Best Supporting Actor: Manoj Joshi (Dashkriya)
    • Best Children's Film - Dhanak (Hindi)
    • Best Male Playback Singer: Sundara Iyer (Joker)
    • Best Female Playback Singer: Iman Chakraborty (Praktan)
BANKING AFFAIRS
RBI keeps repo rate unchanged at 6.25% for first half of 2017-18
  • The monetary policy committee (MPC) headed by RBI governor Urjit Patel left the policy lending rate unchanged at 6.25%.
  • But RBI hiked the borrowing rate or reverse repo to 6% from 5.25% to suck out extra cash. Simply put, this means that RBI will pay a higher interest to banks for parking money with the central bank. For retail customers, this would not have any impact on their borrowings from banks. But it would mean banks would park a larger amount of money with RBI than use it for lending.
  • The cash reserve ratio, the amount of deposits banks have to keep in cash, stays at 4%.
  • India’s economic growth is estimated to have slowed to 7.1% in 2016-17 from 7.9% in 2015-16. However, most analysts expect growth to bounce back in 2017-18.
  • The government’s Economic Survey in February forecast GDP growth to accelerate to 6.75-7.5% in 2017-18.
  • Current Policy  Rates:-
    • Policy Repo Rate : 6.25%
    • Reverse Repo Rate : 5.75%
    • Marginal Standing Facility Rate : 6.75%
    • Bank Rate : 6.75%
    • Cash Reserve Ratio (CRR) : 4%
NEFT transfers to be faster as RBI cuts clearance time
  • The Reserve Bank of India (RBI) has decided to slash clearance time for National Electronic Funds Transfer (NEFT) to enhance efficiency of the electronic payment system and add to customer convenience.
  • The NEFT settlement cycle will be reduced from hourly batches to half hourly batches.
  • According to RBI, 11 additional settlement batches will be introduced at 8.30 am onwards, taking the total number of half hourly settlement batches during the day to 23.
  • The starting batch at 8 am and closing batch at 7 pm shall remain the same and the return discipline will also remain the same as per the existing practice.
BUSINESS AND ECONOMIC AFFAIRS
Aditya Birla Group gets RBI licence to start payments bank
  • Aditya Birla Idea Payments Bank Ltd becomes the seventh entity to receive a final licence from the Reserve Bank of India (RBI) to set up a payments bank, according to a stock exchange notification.
  • Among payment bank licence holders, two entities namely Airtel Payments Bank and India Post Payments Bank (IPPB) have started operations so far. While Airtel is offering 7.25% interest on its savings account, IPPB is offering three types of accounts where interest rates will vary from 4.5-5.5%.
  • Aditya Birla Idea Payments Bank is a 51:49 joint venture (JV) between Aditya Birla Nuvo Ltd (ABNL) and telecom major Idea Cellular.
DEATHS
Ho. Srinivasaiah passes away
  • Gandhian Ho. Srinivasaiah (93-year) passed away in Bengaluru.
  • He headed an organization ‘the Karnataka Gandhi Smaraka Nidhi’ for nearly four decades.
IMPORTANT DAYS OBSERVED
World Health Day - 7 April 2017
  • World Health Day, celebrated on 7 April every year to mark the anniversary of the founding of WHO, provides us with a unique opportunity to mobilize action around a specific health topic of concern to people all over the world.
  • The theme of 2017 World Health Day campaign is "depression".
6th April: United Nations’ (UN) International Day of Sport for Development and Peace
  • The United Nations’ (UN) International Day of Sport for Development and Peace (IDSDP) is observed across the world on 6th April every year to recognize the power of sport in promoting peace and erasing cultural barriers worldwide.
  • The day has been celebrated each year since 2014.
  • The date commemorates the inauguration of the first Olympic games of the modern era, in Athens (Greece) in 1896.
INTERNATIONAL AFFAIRS
New York's Eleven Madison Park named world's best restaurant of 2017
  • Contemporary New York eatery Eleven Madison Park was crowned the world's best restaurant of 2017 at a glitzy ceremony in Melbourne.
  • Run by Swiss-born chef Daniel Humm, the Manhattan institution came out on top at the World's 50 Best Restaurants awards, widely seen as the Oscars of the food world.
  • Spain's El Celler De Can Roca was third.
  • The top 10 was rounded out by restaurants in France, Peru, Thailand, Austria and Spain.
  • France, Spain and the United States each had six restaurants in the top 50, while eateries from China, Chile, Hong Kong and Singapore also made the grade.
  • Bangkok’s Gaggan was named Asia’s best restaurant, at No. 7 overall, while Hong Kong’s Amber came in at No. 24.
India's travel and tourism sector ranks 7th in the world
  • India's travel and tourism sector ranks 7th in the world in terms of its total contribution to the country's Gross Domestic Product (GDP), according to a new report of the World Travel and Tourism Council (WTTC), 2016.
  • According to data, the travel and tourism sector generated Rs 14.1 trillion (USD208.9 billion) in 2016, which is world's 7th largest in terms of absolute size the sum is equivalent to 9.6% of India's GDP.
  • The USA topped the list followed by China and Germany at the second and third position, respectively.
  • The sector also generated 40.3 million jobs in 2016, which ranks India second in the world in terms of total employment supported by Travel & Tourism.
  • WTTC data suggests that visitor exports will grow by 5.4% in 2017.
India, UK to set up 240 mn pound fund for green energy
  • Adding to the kitty of Rs 40,000 crore, National Infrastructure and Investment Fund (NIIF), India and the UK agreed to set up £240 million (approximately Rs 2,000 crore) fund to finance green energy.
  • The fund will help boost India’s rapidly growing energy sector. Both countries will contribute £120 million each to the fund.
  • The fund ultimately aims at raising £500 million.
  • The Green Growth Equity Fund will be a sub-fund of NIIF.
Israel signs USD 2 billion missile deal with India
  • Israel has signed a USD 2 billion contract with India to supply it with missile defence systems, the state-owned Israel Aerospace Industries (ISI) said.
  • This contract is for supplying advanced medium-range surface-to-air missile systems (MRSAM) to India.
  • MRSAM's current version is operational with the Indian Air Force, Indian Navy and Israel Defence Forces (IDF).
  • India is one of the largest importer of arms, with a 14% share in global imports between 2011 and 2015, according to the Stockholm International Peace Research Institute.
  • After Russia and the United States, Israel is the largest source of key defense equipment for India as well as in other areas, such as agriculture and water management.
NATIONAL AFFAIRS
Punjab Kings XI players inaugurate toilet at school for Swachh Bharat campaign
  • Kings XI Punjab players visited a government school in Indore and inaugurated toilets as part of the Swachh Bharat campaign, ahead of the IPL.
  • South Africa's David Miller, pacer Varun Aaron and mentor Virender Sehwag were part of the contingent that visited the school. In this IPL, Holkar Stadium in Indore is also the home ground for Kings XI Punjab as three matches will be played in the city.
  • Sehwag is the director (cricket operations) for the Kings XI Punjab.
Jhargram as Bengal's 22nd district
  • West Bengal Chief Minister Mamata Banerjee declared Jhargram as the 22nd district of West Bengal, fulfilling a longstanding demand of its residents.
  • A Rs 200 crore budget has been sanctioned for Jhargram’s development. Building a new stadium at Nayagram and renovating the Jhargram stadium are part of government’s agenda.
  • Jhargram has been formed by bifurcating West Midnapore, which has a population of more than 11.37 lakh. The district has one mahakuma, eight blocks, one municipality and nine police stations. R. Arjun has been appointed the district magistrate while Abhisek Gupta has been made the police superintendent.
Union Minister Nitin Gadkari announces Rs. 40,000 Crore Expressway Project In Northeast
  • The first express highway project in the northeast region will be developed along the Brahmaputra river in Assam at an estimated investment of Rs. 40,000 crore, Union Road Minister Nitin Gadkari announced.
  • This is 1,300 km-long express highway.
  • The agreement was signed between the Assam government, the National Highways Authority of India (NHAI) and the Inland Waterways of India.
Union Cabinet approves Air Services Agreement between India and Georgia
  • The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the signing of the Air Services Agreement (ASA) between India and Georgia.
  • The Agreement between the two countries is based on latest International Civil Aviation Organization (ICAO) template keeping in view of developments in Civil Aviation sector and with an objective to improve the air connectivity between the two countries.
  • ASA is the basic legal framework for any air operation between the two countries.
National Children’s Film Festival 2017 in Visakhapatnam
  • Union Information and Broadcasting Minister Venkaiah Naidu will host a three-day National Children’s Film Festival (NCFF) in Visakhapatnam on 7 April, 2017.
  • It is the largest film festival for children in the country giving the audience quality and wholesome entertainment.
  • The aim of the film festival is to expose children to quality cinema and to introduce novel elements beyond films.
  • Children’s Film Society, India (CFSI) is set to host National Childrens Film Festival (NCFF).
Two-day national TB summit to begin in Dharamshala today
  • Today, the two days national TB summit has begun with the slogan “TB Harga, Desh Jeetega” in Dharamshala, Kangra district of Himachal Pradesh.
  • Several MP’s from different political parties, renowned experts, doctors, and celebrities is taking part in the deliberations.
  • After detailed deliberations in the summit, a future roadmap will be prepared to eliminate the TB from the country.
  • Himachal Pradesh Cricket Association HPCA is organizing this summit.
  • Tomorrow, the HPCA cricket stadium would also become a witness of a friendly T-20 cricket match between MPs eleven and Mumbai Hero’s.
SPORTS AFFAIRS
Bangladesh captain 'Mashrafe Mortaza' announces retirement from Twenty20 Internationals
  • Bangladesh captain Mashrafe Mortaza announced his retirement from T20I cricket.
  • Mortaza, who led Bangladesh in the 2016 ICC World T20, will feature in the T20I series against Sri Lanka – with the game at R Premdasa stadium, Colombo on April 6 being his last.
  • Beloved by fans, the 33-year-old played 52 T20I to claim 39 wickets and score 368 runs.
  • He led Bangladesh in 27 of his 52 Twenty20 internationals and won nine matches.
PV Sindhu reaches career-best World No.2 ranking
  • Rio Olympics silver medallist ‘P V Sindhu’ (21-year) has jumped three places to achieve world number two ranking (career-best) in the latest Badminton World Federation (BWF) ranking.
  • She has become only the second Indian woman after ‘Saina Nehwal’ to break into the top-five of the world rankings by earning 75759 points.
  • Saina Nehwal to be at a ninth position in the ranking table with 64279 points.
  • The women's singles chart is led by Tai Tzu Ying (Chinese Taipei) with 87911 points.