Hello and welcome to exampundit. Here are the Important Current Affairs Update of 11th January, 2017. These are important for the upcoming RBI Assistant Mains, IPPB Mains and Other exams.
Financial & Banking News:
World Bank releases January 2017 Global Economic Prospects report
- World Bank on 10 January 2017 released January 2017 Global Economic Prospects report. The report said that after a post-crisis low 2016, the global economy will accelerate moderately to 2.7 per cent in 2017.
- The growth will be carried on because obstacles to activity have moved away in emerging market and developing economy commodity exporters. It says that the obstacles receded when the domestic demand remains solid among emerging and developing commodity. The report also highlights that the growth in advanced economies is expected to edge up to 1.8 per cent in 2017.
- The World Bank’s report has decelerated India’s growth to 7 per cent for 2016-17 from its previous estimate of 7.6 per cent. In its report, the bank said the growth rate of the country slowed due to the immediate withdrawal of a large volume of currency in circulation (demonetisation) in November 2016 and subsequent replacement with new banknotes.
- In addition to this, the bank said that the country would regain momentum in the following years with 7.6 and 7.8 per cent. It said that several reform initiatives will help in unlocking domestic supply bottlenecks and raise productivity.
- According to the report, India maintains the distinction of being the fastest growing emerging market economies of the world, bypassing China.
Arunachal signs MoU with NDDB to promote dairy development
- With a view to promoting the dairy sector and rural livelihoods in Arunachal Pradesh, the border state has signed a MoU with National Dairy Development Board (NDDB) during the Vibrant Gujarat Global Summit 2017.
- A State Government delegation led by Chief Minister Pema Khandu, and including Deputy Chief Minister Chowna Mein, Parliamentary Secretary P D Sona, and Chief Secretary Shakuntala Gamlin participated in the Summit. It also met NDDB Chairman Dilip Rath at Anand on Tuesday in this regard, NDDB said in a release here.
- The Arunachal Pradesh Government showed keenness to take urgent steps for the development of dairying for the benefit of milk producers in particular and the cooperative movement in general.
- A memorandum of understanding (MoU) was signed to this effect between the State Government and NDDB with the aim to boost dairying there. Rath said that NDDB will provide managerial and technical support to cooperative institutions so as to enable them better serve their members and promote a plurality of new producer institutions that remain true to cooperative values.
Air India launches Fly For Sure scheme
- Air India on 11 January 2017 launched Fly For Sure scheme under which passengers will be offered one-time flight change facility on the same day. The facility is available for the flight's operation from domestic airports within India.
- The facility was launched with an aim to end the worries of missing or rescheduling the flight by paying a hefty last-minute fare to reach their destination. Till date, in such cases of change passengers were supposed to pay both change fee as well as fare difference.
Features of the ‘Fly For Sure’ scheme
- Passengers can change the schedule (prepone or postpone) of the flight by paying Rs 2000 (including taxes) and board any other Air India flight on the same sector. This facility of re-scheduling the time of travelling will be available on the same day.
- To avail the facility the passenger will have to make an advance payment through e-Flight Change Facility by making an advance payment of a nominal fee of INR 2000 (including taxes) per sector up through Electronic Miscellaneous Document (EMD) at the time of purchase of the ticket.
- Applicability: It is applicable for passengers travelling in the business or economy class on Air India flights.
- Eligible Flights: The service is available only in the sector where alternate flights are available on the same day.
Appointments – India and World:
Badal Bagri appointed Airtel's CFO for India, South Asia
- Telecom operator Bharti Airtel on Wednesday announced the appointment of Badal Bagri as chief financial officer for its India & South Asia operations with effect from January 16, 2017.
- He had previously worked with Airtel from 2010 to 2014 and was the chief controller for the consumer business as well as the global financial controller.
- In his last role, Badal was the CFO at Aircel. Prior to this, he was the CFO at Micromax.
- In his new role, Badal will lead the Finance teams across India, Sri Lanka and Bangladesh to drive Airtel's growth strategy. He will report to Nilanjan Roy, Global CFO, Bharti Airtel, the statement said.
Non-Financial News – India & States:
India, US sign MoU over cyber security
- India and the US have signed a Memorandum of Understanding (MoU) for close cooperation and exchange of information pertaining to cyber security.
- The MoU between Indian Computer Emergency Response Team (CERT-In) and US CERT was signed by Electronics and IT Secretary Aruna Sundararajan and Richard Verma, the US Ambassador to India.
- "The MoU intends to promote closer cooperation and the exchange of information pertaining to the Cyber Security in accordance with the relevant laws, rules and regulations of each economy and this MoU and on the basis of equality, reciprocity and mutual benefit," an official statement said.
- Previously, the two countries had signed an MoU on July 19, 2011 to promote a closer cooperation and timely exchange of information between the organisations of their respective governments responsible for cybersecurity.
- In continuation to the cooperation in cybersecurity areas, both have renewed the MoU, it added.
Union Government inaugurates International Conference & Exhibition on Re-enforced Plastics
- Union Defence Minister Manohar Parrikar on 10 January 2017 inaugurated the three-day International Conference and Exhibition on Re-enforced Plastics (ICERP) at Bombay Exhibition Center, Mumbai.
- ICERP 2017 is being organised by FRP Institute, an association of Indian Reinforced Plastics or Indian Composites sector.
- ICERP is organized by FRP Institute once in every two years. It is the second largest event in Asia.
- This will be the 8th exhibition in the series being organized by FRP Institute since 2002.
- The three-day ICERP 2017 event will comprise of exhibitions and conference programmes emphasizing on mechanism, process and automation.
Union Health Ministry introduces Rubella vaccine in its Universal Immunization Programme
- The Union Health Ministry in the second week of January 2017 announced that it is introducing Rubella vaccine as Measles-Rubella vaccine in its Universal Immunization Programme (UIP).
- The vaccine will be administered to children up to the age group of nine months to 15 years under Measles-Rubella Campaign in a phased manner. The campaign will be phased across India over a period of two to three years.
- The Measles-Rubella Campaign aims at rapidly building up immunity for both measles and rubella.
- As per the Union Health Ministry, the campaign will start in the first quarter of 2017 and will target about 41 crore children.
21st National Youth Festival to be held in Rohtak
- The 21st National Youth Festival will commence from 12 January 2017 in Rohtak, Haryana. The Festival will conclude on 16 January 2017.
- The Festival is organised by the Department of Youth Affairs of Union Ministry of Youth Affairs and Sports. It is organised every year on the birth anniversary of Swami Vivekananda.
- The Prime Minister Narendra Modi will address the participants of the Festival through video conference on the occasion of opening ceremony.
- The theme for the 21st National Youth Festival will be Youth for Digital India. The theme highlights the most critical and crucial importance of the thrust accorded to the area of Digitalisation and Skill Development by Government of India.
- The Mascot of the festival is ‘Lado.’ The mascot reflects the sensitivity of the Haryana Government towards the gender inequality in the state. It also signifies bringing women at par with men.
FIFA votes to expand World Cup competition to 48 teams
- The FIFA Council on 10 January 2017 unanimously voted to expand the FIFA World Cup to a 48-team competition.
- At the 3rd meeting at the Home of FIFA in Zurich on 9 and 10 January 2017, the council decided on a new tournament format with the 48 national teams split into 16 groups of three teams. The top two teams from each group will then move forward to a 32-team knockout stage.
- The new format is set to be introduced in the year 2026.
- There will be no reduction in the overall number of rest days and a guaranteed maximum of seven matches for the teams reaching the final.
- The council zeroed in on the decision following a thorough analysis, based on a report that included four different format options.
China launches first commercial space mission with Kuaizhou-1A rocket
- China on 9 January 2017 successfully launched first Chinese commercial mission using an updated version of the low-cost Kuaizhou-1A rocket. The mission was launched from northwestern China’s Jiuquan Satellite Launch Center in Gansu province.
- As a part of the mission, three satellites namely Jilin Linye-1 forestry satellite (JL-1), CubeSats XY-S1 and Caton-1 were launched into space.
- JL-1 Satellite is a multifunctional remote-sensing satellite which provides for high-definition video images.
- It can be used for environmental protection, land resource and forestry surveying, transport and disaster prevention and relief purposes.
- The JL-1 satellite is also known as Lingqiao 3. It is part of the Jilin constellation of commercial Earth observatories in orbit.
Veteran British war correspondent Clare Hollingworth dies
- Clare Hollingworth, legendary correspondent who first broke the news of the beginning of World War II, passed away on 10 January 2017 following a brief illness. She was 105.
- She was famously known as the doyenne of war correspondents.
- She was the first to report the invasion of Poland by German troops that triggered the outbreak of World War Two.
- Hollingworth's career took her to Palestine, Iraq and Iran, where she interviewed Mohammed Reza Pahlevi, who was overthrown by revolutionaries in February 1979.
Roman Herzog, former President of Germany, passes away
- The former President of Germany Roman Herzog, who pioneered remembrance of the Holocaust, passed away on 10 January 2017 in Bad Mergentheim, Germany. He was 82.
- Herzog used the presidency to serve as a moral guardian for liberal and democratic values. He often talked about Germany’s moral responsibility for the crimes of its past.
- He was the first President of Germany to be elected to office after the reunification of Germany.
- Before being elected as the President of the country, he served as a judge of the Federal Constitutional Court.