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CurrentAffairsTodayNovember242016

Current Affairs Today November 24 2016

By Current Aairs Team - November 24, 2016

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INDIANAFFAIRS
AndhraPradeshCMlaunchesWaterDistributionMonitoringPortal
i.ChiefMinisterofAndhraPradesh,NChandrababuNaiduhaslaunchedtheSmartWaterDistributionMonitoringwebportalon
November23,2016,whichwillenablethepeopletotrackthestatusofdrinkingwaterinthenearbywatertanks.
ii.TheWaterDistributionMonitoringportalcanbeaccessedfromthewebsiteourvmc.org.
iii.TheportalhasSupervisoryControlandDataAcquisition(SCADA)systemthathelpsinreductionofwaterwastageaswellasensures
uninterruptedwatersupplytothehouseholds.
iv.ourvmc.orgisadigitalplatformtoprovideinformationregardingtheactivitiesVijayawadaMunicipalCorporationintheIndianstate
ofAndhraPradesh.
Governmenttoopen62newJawaharNavodayaVidyalaya
i.TheCabinetCommitteeonEconomicAffairs,chairedbythePrimeMinister,ShriNarendraModion
November23,2016,gaveapprovalforopeningofJawaharNavodayaVidyalaya(JNV)ineachofthe62
uncovereddistrictsforwhichanamountofRs.2,871crorehasbeenallocated.
ii.StateswithnumberofJNVsthatwillbeopened.

State

No.

State

No.

State

No.

Chhattisgarh

11

Punjab

Rajasthan

Gujarat

MadhyaPradesh

Andaman&Nicobar

Delhi

jharkhand

Vlaharashtra

J&K

WestBengal

Meghalaya

UttarPradesh

Karnataka

Tripura

ArunachalPradesh

Haryana

iii.InitiallyanamountofRs.109.53crorewillbeallottedforsettingupofnewJNVsbutfromthefiscalyear201718anamountof
Rs.2,761.56crorewillbeaddedandtheworkisexpectedtobecompletedby202425.
iv.Nearabout35,000studentswillbebenefittedfromthesenewJNVs,whichwillprovidegoodqualitymoderneducationtothetalented

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childrenespeciallyfromruralareas,besidesgivingpermanentemploymenttoabout2914individuals.
v.DuetoresidentialandcoeducationalnatureofJNVs,itiscompulsoryforallthestaffandstudentstoresideintheVidyalayacampus.
vi.Thiswillprovideopportunitiestothelocalvendorsforsupplyofessentialcommoditiessuchasfood,consumables,furniture,teaching
materialetcalongwithopportunityforlocalserviceproviderssuchasbarber,tailorcobbler,manpowerforhousekeepingandsecurityservices
etc.
DefenceMinistryReleasedapolicytoreassistblacklistingglobaldefencefirms
i.TheUnionDefenceMinistryreleasednewpolicyGuidelinesoftheMinistryofDefenceforpenaltiesinbusinessdealingswith
entitiesonNovember21,2016,torelookatthelistofthecompaniesthatarebannedfromdoingbusinessinIndia.
ii.AtleastadozenofglobaldefencefirmsarepresentlybannedfromdoingbusinessinIndia
becauseofallegationsofcorruptionagainstthem.However,duetosuchblacklisting,theIndianmilitaryisnotabletoaccessmanyoftheglobal
products.
iii.ThisblacklistingpolicywasapprovedbytheDefenceAcquisitionCouncil(DAC)onNovember7andthepolicywasreleasedbythe
DefenceMinistryonNovember21.
iv.NewPolicyFeatures:
1.Banperiodhasbeenreducedto5yearsfromtheprevious10yearsbuttheupperbanlimitisnotspecified.
2.ItallowsdoingbusinesswithblacklistedfirmforachievingNationalsecurityonlyforthepurposeofsupportingthecriticalspareand
maintenanceorifthefirmistheonlysourcetosupportacertainsystem,butwiththeapprovaloftheDefenceMinister.
UnionCabinetApprovedIntroductionofNewMerchantShippingBill,2016
i.TheUnionCabinet,chairedbyPrimeMinisterNarendraModi,approvedtheintroductionofMerchantShippingBill,2016inthe
ParliamentonNovember23,2016inNewDelhi.
ii.TheMerchantShippingBill,2016isarevisedversionoftheMerchantShippingAct,1958andwillabolishtheMerchantShippingAct,
1958aswellasTheCoastingVesselsAct,1838.
iii.TheMerchantShippingAct,1958hadbeenamended17timesbetween1966and2014duetowhichthenumberofsectionsincreasedto
morethan560butwiththeintroductionofnewbilltheprovisionshavebeenreducedto280.
iv.TheprovisionsofthenewBillwillsimplifythelawgoverningthemerchantshippinginIndiaandpromoteeaseofdoingbusiness,
transparencyandeffectivedeliveryofservicesinthecountry.
v.Survey,inspectionandcertificationofvessels,whichwerescatteredinvariouspartsoftheexistingAct,areplacedtogethertoprovidefora
simplifiedsystemforconvenienceofIndianshippingindustry.
Thenewbillfocuseson:
1.ExpansionoftheIndiantonnagepromotionanddevelopmentofcoastalshippinginIndia,
2.Introductionofwelfaremeasuresforseafarers
3.Registrationofcertainresiduarycategoryofvesselsnotcoveredunderanybillandtomakeprovisionsforsecurityrelatedaspects.
WangalaharvestfestivalcelebratedinMeghalaya
i.GarotribalsPeopleofMeghalayacelebratedtheharvestfestivalofWangalatomarkstheendofaperiodoftoilforfarmerswantinga
goodoutputfromtheirfields.
ii.Onthefirstdayofthefestival,thepeopleoffertheiragricultureproducetotheSunGod,whileonthesecond
dayorKakkat,theywilldanceWangalaDance
iii.ThisfestivalisalsoknownasAnnual100drumFestival.
MeghalayaStateFestival:
BobDylanFestivalandAhaiaFestival.
INTERNATIONALAFFAIRS
IndiaRanks138intheMeasuringtheInformationSocietyReport2016
i.2016editionoftheMeasuringtheInformationSocietyReportwaslaunchedon22November2016duringtheWorld
Telecommunication/ICTIndicatorsSymposium(WTIS)2016heldfrom21Novemberto23November2016inBotswana,SouthAfricabyUN
InternationalTelecommunicationUnion(ITU).
ii.Indiahasbeenranked138thinglobalrankIndex2016withascoreof2.69whileithasbeenranked26thintheRegionalRankIndex
2016.
Listoftop5Economies

Southkorea

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2
3

Iceland
Denmark

8.83
8.74

Switzerland

8.68

UK

8.57

QSGraduateEmployabilityRanking2017RanksIITKharagpurTopInstitutioninIndia
i.AccordingtotheQSGraduateEmployabilityRankingfor2017,IITKharagpurhasbeenrankedasthetopinstitutioninthecountryfor
thesecondsuccessiveyear.
ii.IITBombaywasalsowaslistedinthetop100UniversitiesoftheWorldafterIITKharagpur,andaretheonlyIndianUniversitiestobe
placedamongtop100UniversitiesoftheWorldintherankinglist.
iii.OtherIndianinstitutionsamongthetop300QSGraduateEmployabilityRankingareIITMadras,IITDelhiandUniversityofDelhi.
Thetop3Universitiesrankedgloballyincludes:

Rank

University

Country

StanfordUniversity

USA

MassachusettsInstituteofTechnology(MIT)

USA

TsinghuaUniversity

China

TurkeytoChairEnergyCluboftheShanghaiCooperationOrganisation(SCO)2017
i.The2017EnergyCluboftheShanghaiCooperationOrganisation(SCO)willbechairedbyTurkeywhichisthefirstnonSCOcountry
todoso.
ii.PresidentRecepTayyipErdoanofTurkeyproposedtochairtheEnergyClub2017whichwasacceptedinameetingonNovember22,
2016,byRussiaandChinaandTurkeywaselectedtochairtheEnergyClubin2017.
iii.BeforethisonlymembersoftheSCOchairedthepresidencyoftheEnergyClubinturn.
iv.TheTurkishEnergyMinistrywillbetheGeneralSecretaryoftheEnergyClubforoneyear.
ShanghaiCooperationOrganization(SCO)
ItisaEurasianpolitical,economicandmilitaryorganizationandalsoknownasShanghaiPact.
Itwasfoundedin2001withChina,Kazakhstan,Kyrgyzstan,Russia,TajikistanandUzbekistanasitsfullfledgedmembers
ApartfromSCOsoriginalmembers,Turkey,Afghanistan,Iran,Mongolia,BelarusandSriLankaarethemembersoftheSCOEnergyClub.
TheSCOEnergyClubbringstogethersomeoftheworldlargestenergyproducers,namelyRussia,Kazakhstan
andUzbekistan,withtheworldslargestenergyconsumers,suchasChinaandIndia.
Turkey
Capital:Ankara
Currency:Turkishlira
President:RecepTayyipErdoan
BANKING&FINANCE
RBIdoublestheEwalletLimittoRs.20,000
i.TheReserveBankofIndiaonNovember23,2016declaredtoincreasethelimitofthePrepaidPaymentInstruments(PPIs)from
Rs.10,000toRs.20,000permonthandRs.50,000forMerchantBanktofacilitatedigitaltransactions.
ii.ThedecisionwastakentoeasetheproblemfacedbythepublicwiththedemonetizationmoveoftheGovernment.
iii.Withtheincrementinthelimits,consumerscanmakedigitalpaymentforallessentialdaytodayitems,makebillpayments,travel
bookingsandotherpaymentsatover1milliontouchpointsofthesePPIsspreadallacrossthecountry.
iv.ConsumerscanalsotransfermoneytobankaccountsuptoRs.1,00,000inamonthbygivingfullKYCdetails.
v.Forsmallandmicrobusinesses,RBIhasallowedmerchantstoacceptuptoRs50,000inamonthusingprepaidwallets.
vi.Inordertoavailthisfacilitysmallandmicrobusinessesneedonlyprovideaselfdeclarationinrespectoftheirstatusanddetailsoftheir
bankaccounts.
vii.HoweverthedecisionwillbevalidonlytillDecember30afterwhichthisdecisionwillbeagainreviewedbytheRBI.
PrepaidPaymentInstruments
PrepaidPaymentInstrumentsfacilitatespurchaseofgoodsandservicesagainstthevaluestoredonsuchinstruments.

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Theprepaidinstrumentscanbeissuedassmartcards,magneticstripecards,internetaccounts,onlinewallets,mobileaccounts,mobile
wallets,papervouchersandanysuchinstrumentsusedtoaccesstheprepaidamount.
IBBINotifiesregulationUnderBankruptcyCode,2016
i.TheInsolvencyandBankruptcyBoard(IBBI)ofIndiaon23November2016notifiedthreesetsofregulationsdirectingtheeligibility
criteriaofbecomingaprofessionalmemberofanInsolvencyProfessionalAgencyorforregisteringwith
theIBBIasanInsolvencyProfessionalAgency
ii.Theregulationisapplicableto
1.InsolvencyProfessionals,
2.InsolvencyAgenciesand
3.ModelByeLawsandGoverningBoardofInsolvencyProfessionalAgencies.
TheseregulationswerenotifiedundertheInsolvencyandBankruptcyCode,2016andwillcomeintoeffect
from29November2016.
iii.Individualseligibleforregistrationasaninsolvencyprofessional
Advocates,CharteredAccountants,CompanySecretariesandCostAccountantswith10yearsofpracticeoremployment.
AGraduatewith15yearsofpostqualificationmanagerialexperienceonpassingtheLimitedInsolvencyExamination.
AnyindividualwhohaspassedtheNationalInsolvencyExamination.
However,Advocates,CharteredAccountants,CompanySecretariesandCostAccountantswithmorethan15yearsofpracticeexperiencecan
registerwithoutanyexaminationtill31December2016andsuchregistrationshallbevalidforalimitedperiodofsixmonths.
TherewillbeNationalInsolvencyExaminationandLimitedInsolvencyExamination.Thesyllabusandformatoftheseexaminationswillbe
publishedonthewebsiteoftheBoardatleastonemonthbeforetheexamination.
Alimitedliabilitypartnership,aregisteredpartnershipfirmoracompanycanberecognisedasaninsolvencyprofessionalentityifamajority
ofthepartnersoramajorityofthewholetimedirectorsareregisteredasinsolvencyprofessionalsundertheCode.
Aninsolvencyprofessionalcanusetheorganisationalresourcesofarecognisedinsolvencyprofessionalentitysubjectedtotheconditionthat
theentityaswellastheinsolvencyprofessionalwillbeliableforallactsofomissionorcommissionofitspartnersasinsolvencyprofessionals
iv.Aspertheregulations,acompanyregisteredunderSection8oftheCompaniesAct,2013,withaminimumnetworthofRs.10croreshall
beeligibletobeanInsolvencyProfessionalAgency.
30banksjoinmobilebasednationalfundstransfersystem
i.AccordingtoNationalPaymentsCorporationofIndia(NPCI),30privateandforeignbankswerejoinedtheUnifiedPaymentsInterface
(UPI)toallowsmoneytransferbetweenanytwobankaccountsbyusingamobilephone.
ii.This30bankscandownloadtheappfromGooglePlayStoreontheirAndroidphones
iii.Thisappwillenablescustomerstomakeonlineaswellasofflinepaymenttomerchantsfromtheirbankaccounts,withoutanydetails.
iv.UPIProjecthadstartedwith21banksinAugust2016.Earlierthismonth,fivenewbanksincludingSBI,AllahabadBank,Bankof
Baroda,HDFCBankandIDFCBankjoinedwithNPCIsUPI.
NationalPaymentsCorporationofIndia(NPCI):
TheNationalPaymentsCorporationofIndia(NPCI)wassetupin2009
Aim:ToallowallIndiancitizenstohaveunrestrictedaccesstoepaymentservices.
Headquarters:Mumbai,Maharashtra.
MD&CEO:AP.Hota
YESBank,GujaratRoadwaysjoinhandstodigitisebustravelpayments
i.MaharashtrabasedYESBank,announcedapartnershipwithGujaratStateRoadTransportCorporation(GSRTC)onNovember24,2016to
digitisepaymentofbusticketsforGujaratPeople.
ii.Yesbankwillinstallover125pointsofsale(PoS)terminalstofacilitatebookingthroughcreditanddebitcardsatallGSRTCbusstops.The
locationoftheseterminalswillsupportthelesscasheconomyenvisagedbytheCentre.
iii.ItwillcoverallmunicipalcorporationlocationsandmultiplecitiesofGujarat.
YesBank:
Headquarters:Maharashtra
Founded:2004
MD&CEO:RanaKapoor
BUSINESS

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TalcherThermalPowerStationGenerateshighestelectricityinsingleday
i.TalcherThermalPowerStationofNTPConNovember23,2016generated11.496MillionUnitsofelectricityat104.13%capacity
utilizationwhichisthehighestsingledaygenerationamongallpowerstations.
ii.ThestationhadtoppedthenationalrankingforHighestCapacityUtilizationamongallpowerstationsofthe
countryduring201516.
iii.Thepowerstationhasaninstalledcapacityof460MW,fourunitsof60MWandtwounitsof110MW
each.
iv.First60MWunitofthestationwassetupon7thFebruary1968inthestateofOdisha.TalcherThermal
wastakenoverbyNTPCfromOrissaStateElectricityBoardintheyear1995.hestationshallcelebrateits50th
yearofoperationin2017.
v.AfterbecomingapartofNTPC,thestationhaswitnessedtransformationintheareasofHumanResources,SocioEconomicandEcological
EnvironmentinitsareathroughCSRinitiatives.Stationhaswonseveralawardsforitssafetypracticesintheseyears.
GovernmenttoImposeSafeguardDutyonSteelImports
i.GovernmentofIndiahasimposedasafeguarddutyonimportofcertainsteelproductseffectivefromeffectfromNovember23,2016
tillMay22,2019
ii.Aim:toensurefairtradeandprotectdomesticmanufacturersfromcheapimports.
iii.Thesafeguarddutyhasbeenimposedonimportofhotrolledflatsheetsandplatesofalloyornonalloysteel(excludinghotrolledflat
productsincoilform).
iv.Thedutyratewouldbecalculatedafterdeductingthevalueofthegoodsandtheantidumpingdutypayablewhentheimportpriceisbelow
USD504perton.
v.Thedutyimposedwouldbe10%uptoNovember22,2017andwill
graduallyreduceto8%betweenNovember23,2017andNovember22,2018whileto6%duringtheperiodfromNovember23,2018to
May22,20192019
vi.ThedecisionwastakenaftertheIndiansteelmakersJSWSteel,EssarSteel,andSteelAuthorityofIndiahadseekedsafeguardmeasures
againstcheapimportsfloodinglocalmarketsandpressuringmarginswiththeDirectorateGeneralofAntiDumpingandAlliedDuties.
AWARDS&RECOGNITIONS
AustraliasformerwomenscaptainKarenRoltoninductedintotheICCsHallofFame
i.AustraliasformerwomenscaptainKarenRoltonhasbeeninductedintotheICCsHallofFameonNovember24,2016ataceremony
duringthedinnerbreakontheopeningdayofthethirdday/nightTestbetweenAustraliaandSouthAfrica.
ii.RoltonwaspresentedwithapersonalisedcapbyICCChiefExecutiveDavidRichardson
iii.Shehasbecomethe81stplayertobeinductedintotheICCCricketHallofFameandthesixthwomanto
receivetheaward.
iv.RoltonisthefirstoutofthefourlegendarycricketerswhowillbeformallyinductedintotheICCCricketHall
ofFamethisseason.
v.TheotherthreeareMuttiahMuralitharanofSriLanka,AustraliasArthurMorrisandEnglands
GeorgeLohmann.
vi.TheICCCricketHallofFamerecognizestheachievementsofthelegendsofthegamefromcricketslongandillustrioushistory.Itwas
launchedbytheInternationalCricketCouncil(ICC)ofDubaion2January2009,inassociationwiththeFederationofInternationalCricketers
Associations(FICA).
APPOINTMENTS&RESIGNS
NVSrinivasanappointedasIndoAmericanChamberofCommercePresident
i.NVSandAssociatesManagingPartner,NVSrinivasaniselectedasitsNationalPresidentofTradebodyIndoAmericanChamberof
Commercefortheperiod201617bythecommitteeoftheChamberduringthemeetingheldinMumbai.
ii.OtherAppointments:BhasinandCompanyManagingPartnerLalitBhasinandentrepreneurVasantSubramanyanwereelectedas
ExecutiveVicePresidentsrespectively.
IACC:
TheIndoAmericanChamberofCommerce(IACCUSA)isanonprofitorganizationservingtheMetroDetroitareaandbeyond.
Establishedin1968

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IndianAmericanNikkiHaleypickedbyDonaldTrumpasUSAmbassadortoUN
i.TheUSPresidentelectDonaldTrumponNovember23,2016appointedNikkiHaleyofSouthCarolinatoserveasUSambassadorto
theUnitedNations.
ii.WiththisshewillbecomethefirstIndianAmericantobeappointedtoacabinetlevelpostintheUSadministration.
iii.Haley(NimrataNikkiRandhawa)44yearolddaughterofIndianimmigrantsisthefirstminorityand
femalegovernortoserveasGovernorofSouthCarolinasince2011andtheyoungestcurrentgovernorinthe
UnitedStates.
iv.WithherappointmenttothetopdiplomaticpostinUN,HaleywouldreplaceSamanthaPower.
v.ShewouldalsobethefirsteverIndianAmericanCabinetrankofficialinanyadministration.
ACQUISITIONS&MERGERS
ZeegrouptobuystakeinRelianceTVchannelsandradiobusinessfor1890.4crore
i.ReliancegrouphasenteredintoadealwithZeegrouptosellits100%stakeinTVchannelsandsell49%stakeinradiobusinesstoZee
group.ThetotaldealwillcostRs1890.4crore($283million)toZeegroup.
ii.ZeeEntertainmentEnterprisesLtd(ZEEL)whichisaentityunderZeegroup,willacquire100%stakeintheRelianceGroupsGeneral
EntertainmentTVbusiness.ForthisZEELwillpayRs298.4croretoReliancegroup.TvchannelsincludesBigMagicandBigGanga,andfour
otherTVlicences.
iii.OntheotherhandthenewsmediacompanyZeeMediaCorporation(ZMCL)willbuy49%stakeintheradiobusinessReliance
BroadcastNetworkLtd(RBNL).ThisdealisworthRs1,592crore.
iv.DuetoregulatoryrulesofrabiobusinessZMCLwillbeabletoacquireonly49%stake.RBNLoperates45FMradiostations,andithas14
stationsinnonoperationalconditionwhichwasacquiredlastyearbyReliancegroup.
v.Thetransactionisexpectedtocloseinthesecondhalfofyear2017.
ENVIRONMENT
Archaeologistsuncover7000yearoldcityinEgypt
i.EgyptArchaeologistshaveuncoveredanancientEgyptiancityand15graveyardthatbelongs5300BCannouncedbyantiquitiesminister
MahmoudAfifi
ii.Thecityandcemeterywasdiscoveredabout400metresfromtheTempleofSetiIintheancientcityofAbydoswhichwasfoundedby
predynasticrulersinsouthernEgypt.
Egypt:
Capital:Cairo
Currency:Egyptianpound
President:AbdelFattahelSisi
SPORTS
IndianboxerNeerajGoyatranked35thinWorldBoxingCouncil(WBC)Ranking
i.24yearoldIndianprofessionalboxerNeerajGoyathasmadeaplaceinWorldBoxingCouncil(WBC)rankings.Currentlyheisrankedat
35thspotinthewelterweightcategory.HeisthefirstIndianboxertoenterintotheranking.
ii.ThewinofIndianboxeroverAustraliasBenKiteinmidOctober2016toretainWBCwelterweightAsiatitlehasmadewayforhisentry
intotheleaderboard.Neerajhasanoverallrecordofwinning8matchesin12fights.
iii.NeerajGoyatisnowaimingforWBCinternationaltitlewhichwillclearhiswaytoentrytotop15.Onentry
intop15,Neerajcantakepartinworldtitlematchesalso.
iv.AmirKhanofGreatBritainispresentlyonthetopstopinwelterweightcategory.
AboutWorldBoxingCouncil
Headquarters:MexicoCity,Mexico
President:MauricioSulaimn
Founded:1963
OBITUARY
RenownedPakistanimountaineerHassanSadparapassesaway
i.RenownedmountaineerHassanSadparapassedawayinRawalpindi,Pakistan

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ii.SadparawastheonlyPakistani,whohaveclimbedsixoftheworldstallestmountainsincludingMtEverest(8848m),K2(8611m),
GasherbrumI(8080m),GasherbrumII(8034m),NangaParbat(8126m)andBroadPeak(8051m).
iii.HewasthesecondBaltistanitohavesummitedallfiveofthe8000mpeaksofPakistanafterNisarHussain.
WriterofShahRukhKhansChennaiExpressKSubashdies
i.TamilfilmdirectorK.SubaashpassedawayinChennaionNovember23,2016.Hewas57
ii.SubaashisbestknownfordirectingTamilfilmChathriyanandpenningthestoryofShahRukhKhans
ChennaiExpressandHousefull3.
iii.HestartedhiscareerasanassistanttoManiRatnamin1987TamilfilmNayagan,andayearlaterhe
madehisdirectorialdebutwithPrabhustarrerKaliyugam.HealsodirectedVijayakanthstarrerTamil
actionerSathriyanain1991.
iv.Hedirectednearly20filmswithlastonewasHindiactionfilmInsan.
DownloadTopRankersFreeAndroidAppforBanking&GovtExams
BuyBanking&EconomyQuestions2016PDF(AugNov)
ImportantBooksforBankExams&CompetitiveExams

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