Daily Current Affairs Update - 26-27 January, 2017

Hello and welcome to exampundit. Here are the Important Current Affairs Update of  26th and 27th January, 2017. These are important for the Syndicate PO and other Bank exams.


Daily Current Affairs at a Glance - 26-27 January, 2017
  1. The Government of Andhra Pradesh on 25 January 2017 announced a Rs 100 crore fund of funds to develop financial technology (Fin Tech) startup ecosystem in the State. The announcement was made by State's special Chief Secretary JA Chowdary.
  2. Central Power Sector PSU Power Grid Corporation of India Ltd, popularly known as POWERGRID, on 25 January 2017 signed a Memorandum of Understanding (MoU) with Abu Dhabi Water & Electricity Authority (ADWEA) & its group of companies in Gurgaon.
  3. Cisco on 24 January 2017 announced its intent to buy AppDynamics. Both the companies are based in San Francisco, the USA.
  4. Ant Financial, e-commerce giant Alibaba's financial arm, has reached an agreement to acquire American money-transfer major MoneyGram for $880 million, in a deal that will expand the firm's business in the US after India and Thailand.
  5. Republic Day was celebrated on 26 January 2017 across the nation. This was the 68th Republic Day of India. The Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces of the UAE Sheikh Mohamed bin Zayed Al Nahyan was the Chief Guest at the 68th Republic Day parade. A contingent of National Security Guard (NSG) participated in the Republic Day parade for the first time.
  6. All India Football Federation (AIFF) on 24 January 2017 launched the Women’s Professional League (WPL) in New Dehli. The WPL is the first ever such league in the country.
  7. Gullapalli N. Rao, a noted Indian eye doctor, has been selected to the 2017 Ophthalmology Hall of Fame instituted by the American Society of Cataract and Refractive Surgery.
  8. Meghalaya Governor V Shanmuganathan resigned from his position on 27 January 2017. His resignation came following a controversy that was triggered against him, accusing him of sexual misconduct.
  9. T K Kurien, Executive Vice-Chairman and Board member of Wipro, on 24 January 2017 announced his retirement. He will retire on 31 January 2017.



Financial and Banking News:

Andhra Pradesh announced Rs 100 crore fund of funds to develop Fin Tech startups


  • The Government of Andhra Pradesh on 25 January 2017 announced a Rs 100 crore fund of funds to develop financial technology (Fin Tech) startup ecosystem in the State. The announcement was made by State's special Chief Secretary JA Chowdary.
  • The fund will be managed professionally by a venture capital firm.
  • The fund seeks to strengthen the industry-academia-government partnership in order to develop skilled human resources in the Fin Tech sector.
  • The focus of this fund of funds is to develop Vishakapatnam as a global FinTech hub.
  • Some of the recent initiatives of AP Government in Fin Tech sector are -
  • The Government of Andhra Pradesh identified as the Fin Tech sector as one of the promising industry to generate employment in the coming years.
  • Accordingly, in December 2016, the State Government signed a Memorandum of Understanding (MoU) with the Monetary Authority of Singapore (MAS).


Power Grid Corporation of India signs MoU with Abu Dhabi Water & Electricity Authority

  • Central Power Sector PSU Power Grid Corporation of India Ltd, popularly known as POWERGRID, on 25 January 2017 signed a Memorandum of Understanding (MoU) with Abu Dhabi Water & Electricity Authority (ADWEA) & its group of companies in Gurgaon.
  • The MoU was signed by Saeed Al Suwaidi, Managing Director of Abu Dhabi Distribution Co (UAE) and Anil Mehra, Executive Director- International Business of POWERGRID in the presence of IS Jha, CMD of POWERGRID.
  • The MoU envisages cooperation between ADWEA & its group of companies and POWERGRID to work in different areas including smart grid, Transmission technology.
  • Both the companies will also work for providing capability development and training in the field of Operation & Maintenance (O&M), Asset Management, Project Management, Power Transmission & Distribution, etc.
  • POWERGRID will also assist ADWEA in setting up an advanced World Class Capability Development institute in UAE.


Cisco Systems agreed to buy AppDynamics for USD 3.7 billion


  • Cisco on 24 January 2017 announced its intent to buy AppDynamics. Both the companies are based in San Francisco, the USA.
  • As per the announcement, Cisco will acquire AppDynamics for approximately USD 3.7 billion in cash and assumed equity awards.
  • With the acquisition, AppDynamics's cloud application and business monitoring platform will enable the Cisco to improve application and business performance.
  • Cisco will be able to re-define its relationships with customers through new software tools.
  • Together AppDynamics and Cisco will provide customers with intelligent and actionable insights.
  • The combination will also help the customers to make speedy business decisions and improve business performance.


Alibaba's financial arm acquires MoneyGram for $880 million


  • Ant Financial, e-commerce giant Alibaba's financial arm, has reached an agreement to acquire American money-transfer major MoneyGram for $880 million, in a deal that will expand the firm's business in the US after India and Thailand.
  • The company owns Alipay, one of China's biggest online payment platforms and controls the company that manages the country's largest money market fund, Yu'ebao.
  • The transaction will connect MoneyGram's money transfer network of 2.4 billion bank and mobile accounts and 350,000 physical locations with Ant Financial's users, according to the statement.
  • MoneyGram will remain headquartered in Dallas and continue to operate under its existing brand, it said.


Non-financial News: India and World

India celebrated 68th Republic Day on 26 January 2017


  • Republic Day was celebrated on 26 January 2017 across the nation. This was the 68th Republic Day of India. The Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces of the UAE Sheikh Mohamed bin Zayed Al Nahyan was the Chief Guest at the 68th Republic Day parade.
  • First Republic Day was celebrated on 26 January 1950 to mark the enforcement of the Constitution of India that declares India as – “ Sovereign Socialist Secular Democratic Republic.”

Main Highlights of 2017 Republic Day Parade
  • Republic Day Parade on Rajpath witnessed tableaux from 17 States and six Ministries of the Central Government.
  • The tableaux showcased varied themes starting from country’s rich cultural heritage and development.
  • The tableaux also showcased  nation’s progress in key areas like IT, women, empowerment and environment protection.
  • A contingent of National Security Guard (NSG) participated in the Republic Day parade for the first time.
  • The NSG was formed in 1984 following the Operational Bule Star and assassination of Indira Gandhi.
  • A contingent of the UAE Presidential Guard also participated in the parade. The parade was led by a UAE band consisting of 35 musicians. They presented a ceremonial salute to President Mukherjee and the visiting dignitary Sheikh Mohammed bin Zayed Al Nahyan.


Sports News:

AIFF launched India’s first ever Women’s Football Professional League


  • All India Football Federation (AIFF) on 24 January 2017 launched the Women’s Professional League (WPL) in New Dehli. The WPL is the first ever such league in the country.
  • The league was launched by AIFF President Praful Patel in the presence of Union Minister of State (Independent Charge) Youth Affairs and Sports Vijay Goel and the 2016 Summer Olympics wrestling bronze medalist Sakshi Malik.
  • The inaugural league will be held for two-weeks at the Ambedkar Football Stadium in New Delhi. The opening match will be held on 28 January 2017.
  • 20 Teams from across 9 States had taken part in the first leg of the qualifiers. At the end of the qualifiers, 9 teams were qualified for the IWL prelims. The competitions were held in Cuttack in October 2016.
  • From among the 9 teams, the top 6 teams were selected for the IWL final event.



Eight sports persons get Padma Shri

  • The Government of India on 25 January 2017 announced the Padma Awards 2017.
  • Padma Awards are conferred in three categories: Padma Vibhushan, Padma Bhushan and Padma Shri.
  • The Awards are given in various fields of activities, for example art, social work, science and engineering, trade and industry, medicine, public affairs, and so on.
  • In the list of awardees, eight eminent sports personalities of India received the Padma Shri Awards. 


These sports persons are:
Name
Field
Virat Kohli
Sports-Cricket
Shekar Naik
Sports-Cricket
Vikasa Gowda
Sports-Discus Throw
Deepa Malik
Sports-Athletics
Mariyappan Thangavelu
Sports-Athletics
Dipa Karmakar
Sports-Gymnastics
P R Shreejesh
Sports-Hockey
Sakshi Malik
Sports-Wrestling


Awards & Honors:

G.N. Rao to be inducted into Ophthalmology Hall of Fame


  • Gullapalli N. Rao, a noted Indian eye doctor, has been selected to the 2017 Ophthalmology Hall of Fame instituted by the American Society of Cataract and Refractive Surgery.
  • The founder and chair of the LV Prasad Eye Institute, Hyderabad, Rao will be honoured at the induction ceremony in Los Angeles on May 6 at the annual meeting of the ASCRS.
  • The Hall of Fame honours pioneers in ophthalmology for their distinguished careers and contributions, with the physicians selected by their peers – more than 30,000 ophthalmologists across the world.
  • Since its inception in 1999, 55 scientists and physicians of all generations have been bestowed with this recognition.


Resignations:

Meghalaya Governor V Shanmuganathan resigns


  • Meghalaya Governor V Shanmuganathan resigned from his position on 27 January 2017. His resignation came following a controversy that was triggered against him, accusing him of sexual misconduct.
  • Moreover, a letter was sent to Prime Minister Narendra Modi by the staff of the Meghalaya Governor's House, accusing the Governor of compromising with the dignity of his office.
  • Civil society groups in Meghalaya like the Civil Society Women's Organisation and a progressive political outfit of Meghalaya 'Thma U Rangli' launched a signature campaign following the reports of inappropriate behaviour by the Governor. The campaign was launched to demand Governor's resignation.
  • However, Shanmuganathan, who also holds the additional charge of Governor of Arunachal Pradesh, denied such media allegations.


Wipro Vice-Chairman T K Kurien announced retirement

  • T K Kurien, Executive Vice-Chairman and Board member of Wipro, on 24 January 2017 announced his retirement. He will retire on 31 January 2017.
  • In 2016, Kurien was elevated to the role of Executive Vice-Chairman along with the appointment of Abidali Z Neemuchwala as Wipro's CEO and Executive Director.
  • T K Kurien began his career with Wipro in 2000.
  • He held leadership positions across businesses like EcoEnergy division, Wipro Consulting Services and healthcare and life sciences unit.









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