Home Daily Updates IMPORTANT CURRENT AFFAIRS & DAILY NEWS UPDATES : 22 - AUGUST - 2016
IMPORTANT CURRENT AFFAIRS & DAILY NEWS UPDATES : 22 - AUGUST - 2016
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Tuesday, 23 August 2016 04:25

 

 

 


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DAILY NEWS UPDATES

22- AUGUST - 2016

 

:: NATIONAL ::

INDIA CLEARLY SAYS TO PAKISTAN TO LEAVE POK

  • The war of words between India and Pakistan intensified with Delhi demanding that Islamabad address “more pressing” issues related to cross-border terrorism.
  • The Ministry of External Affairs (MEA) said the latest offer of dialogue on Kashmir from Pakistan could progress only if Islamabad stopped the export of terror that hit Kashmir, as well as Mumbai on 26/11.
  • MEA also demanded the “earliest possible vacation of PoK [Pakistan-occupied Kashmir].”
  • The terror-specific demands from India came a day after India rejected Pakistan’s proposal for “Kashmir dispute-specific talks” and demanded that the proposed talks, which were to be held between the two Foreign Secretaries, should focus on “cross-border terrorism.”

WORLD OLDEST TIGRESS IN THE WILD DIED

  • Legendary tigress Machhli, who was the world's oldest tigress in the wild, died in Ranthambhore National Park in SawaiMadhopur district ofRajathan.
  • Also referred to as T-16, the tigress was named Machhli because of marks on her face which resembled a fish.
  • The celebrity tigress was also the world's most-photographed big cat and had a postage stamp and several documentary films on her name.
  • Machhli played a significant role in populating the Ranthambhore Tiger Reserve, as she was blessed with 11 cubs, including seven females and four males.
  • According to some estimates, she was contributing Rs. 65 crore a year as tourism revenue to the National Park for the last 10 years.
  • The park management organised regular feeding to Machhli for long and at times drove her away from periphery into the well-wooded park habitat so as not to come in conflict with the villagers.
  • In one of the most memorable incidents, a Ranthambhore-based artist had photographed Machhli in a combat with a 14-foot-long marsh crocodile across the bed of Raj Bagh lake.

:: INTERNATIONAL ::

STALLED MYITSONE DAM PROJECT CAME UNDER FOCUS

  • The stalled Myitsone dam project — widely seen as a litmus test of a new phase of ties between China and Myanmar — came under sharp focus during talks between the visiting leader Aung San Suu Kyi and Chinese Prime Minister.
  • China signalled that the Myanmar government was reconsidering its position on the $3.6 billion project, and hoped to arrive at a resolution that suited both sides.
  • The mega project, which has been criticised by environmental groups, was frozen in 2011 by Myanmar’s previous government led by President TheinSein.
  • Analysts say Myanmar is expected to balance its ties between China and its other neighbours including India. China is Myanmar’s foremost foreign investors, with investments of $15.4 billion already in the bag.
  • Apart from the Myitsone project, the government commission will also review other proposed hydroelectric dams along the Thanlwin River. It is expected to submit its report by November 11.
  • The two sides have also decided to build a bridge at Kunlong, 32 km from the border in northeastern Myanmar, as part of counterinsurgency exercise.
  • The bridge will be close to the Kokang region, where an ethnic Chinese group battled the Myanmar’s troops last year.
  • The Irrawaddy noted that Myanmar’s “main and immediate concern is how to make use of Chinese influence on the ethnic armed organisations along the Sino-Burma border”.

AFTER DECADES OF DELAY PAKISTAN TABLED HINDU MARRIAGE BILL

  • After decades of delay and inaction, the much-debated Hindu Marriage Bill 2016 has finally been tabled in Pakistan’s National Assembly.
  • The report of the Standing Committee on Law and Justice on the Hindu Marriage Bill 2016 was presented in the National Assembly and is just one step away from being approved as the ruling Pakistan Muslim League-Nawaz (PML-N) party is supporting it.
  • The bill is expected to put an end to the practice of abduction of married Hindu women and to curtail forced conversions.

:: INDIA AND WORLD ::

NON ALIGNED MOVEMENT MEETING IN SEPTEMBER

  • Venezuela is counting on Prime Minister Narendra Modi’s attendance at this year’s Non-Aligned Movement (NAM) meeting in September, despite reports he is unlikely to, said visiting Foreign Minister.
  • “The Non-Aligned principles are today more relevant than ever. So we are sure that India will attend NAM and attend at the highest level,” the Venezuelan Foreign Minister said.
  • Ms. Rodriguez met with Petroleum Minister Dharmendra Pradhan on the government’s offer of supplying Venezuela much needed pharmaceutical products in exchange for oil.
  • Opposition leaders say that if Mr. Modi skips the NAM summit, it would send out the wrong signal.

:: BUSINESS AND ECONOMY ::

EXPERT PANEL SUGGESTS EASING NORMS FOR FOREIGN INVESTORS

  • With an aim to develop corporate bond market in India, an expert panel today suggested easing of norms for foreign investors, a corporate bond index on the lines of Sensex or Nifty.
  • The panel, comprising nominees from Reserve Bank, Finance Ministry, markets watchdog SEBI as also insurance and pension regulators IRDAI and PFRDA, also wanted tightening of norms for credit rating agencies.
  • The ‘Report of the Working Group on Development of Corporate Bond Market in India’ has been submitted to RBI Governor Raghuram Rajan in his capacity as Chairman of the FSDC Sub Committee.
  • The report was released today by SEBI, whose Chairman U.K. Sinha is a member of the FSDC Sub Committee.
  • It has recommended amendments in FEMA regulations to allow investments by FPIs (Foreign Portfolio Investors) in unlisted debt securities and pass through securities issued by securitisations.
  • Corporate bond issuance in India is dominated by private placements as bonds account for more than 95 per cent of the total issuance of corporate debt.
  • The panel observed there is a total lack of liquidity in credit risk protection instruments like Credit Default Swaps (CDS), while stamp duties on corporate bonds across various states have not been standardised.
  • The tax regime for financial instruments remains one of the key drivers of investor interest, while there are inherent structural incentives for borrowers to prefer bank financing, such as cash credit system and absence of any disincentive for enjoying unutilised working capital limits.

THE MINISTRY OF MINES UNVEILED A WEB PORTAL FOR THE EASY ACCESS TO INFORMATION

  • The Ministry of Mines unveiled a web portal for the easy access to information regarding the mining sector in India, including a framework for rating mines.
  • “The web portal will have all the ratings of the mines and will also have information of the Sustainable Development Framework (SDF) for the mining sector.”
  • The star rating system, which rates mines out of five stars, is a two-layered system based on a self-evaluation by the mine operator, which is then validated by the Indian Bureau of Mines under the Ministry of Mines.
  • There will be random third-party checks to see whether the information provided by the operators is correct, and there should be penalties for those providing false information.
  • The star rating system will be based on parameters such as efforts taken to mitigate environmental impact of the mines and to resettle and rehabilitate the people affected and on international standards for mining operations and reporting.

INDIA POST TO BEGAN OPERATIONS AS PAYMENT BANK FROM 2017

  • India Post Payments Bank has received the certificate of incorporation from the Registrar of Companies, paving the way for the postal department’s bank to begin operations in 2017 as announced.
  • This will be the first public sector undertaking under the Department of Posts.
  • The incorporation of the IPPB Ltd is a significant step forward as this also paves the way for the bank to begin hiring of banking professionals to set up the bank and begin its operations in 2017.
  • The Department of Posts is expected to complete the roll out of its branches all over the country by September 2017. The government said this could be the fastest roll out for a bank anywhere in the world.
  • The new bank is expected to commence operations by March 2017 and will set up 650 branches and 5000 ATMs across the country.

:: IMPORTANT DETAILED NEWS ::

IOA CHIEF N RAMACHANDRAN BESTOWED WITH THE OLYMPIC ORDER AWARD

N. Ramachandran, President of Indian Olympic Association (IOA), was awarded the Olympic Order for his outstanding services to the Olympic movement.

The President of the International Olympic Committee (IOC), Thomas Bach, formally presented the award to Ramachandran.

About Olympic Order

The Olympic Order is the highest award of the Olympic Movement which is awarded in recognition of efforts worthy of merit in the cause of sport.

It was established in May 1975 as a successor to the Olympic Certificate by the International Olympic Committee.

The Olympic Order originally had three grades gold, silver and bronze, although the bronze grade fell dormant in 1984.

As a tradition, IOC bestows the Olympic Order upon the chief national organiser(s) at the closing ceremony of each respective Olympic Games.

The insignia of the Olympic Order is in the form of a collar (or chain), in Gold, Silver or Bronze according to grade. The front of the chain depicts the five rings of the Olympic Movement. A lapel badge, in the form of the five rings in Gold, Silver and Bronze according to grade, is presented to recipients to wear as appropriate.

Nadia Comaneci is the only athlete to be awarded the Olympic Order twice, that is, in 1984 and 2004. He is also the youngest ever recipient.

URJIT R PATEL APPOINTED AS 24TH GOVERNOR OF RESERVE BANK OF INDIA

Union Government appointed Dr. Urjit R Patel as the 24th governor of Reserve Bank of India (RBI). He will be having tenure of three years with effect from 4 September 2016.

He will succeed the present RBI Governor Dr. Raghuram Rajan, the former International Monetary Fund chief economist.

At present, Dr Patel is the Deputy Governor of RBI and is holding this assignment since 2013. With this appointment, he also becomes the eight Deputy Governor to be elevated as the Governor at RBI.

Dr. Urjit R Patel

• He headed a panel that recommended landmark changes to monetary policy in India, which included a switch to inflation-targeting and the creation of a panel to set interest rates.

• In January 2016, he was reappointed as the deputy governor in charge of monetary policy, the department he ran since 2013.

• Earlier between 1990 and 1995, he had worked with the International Monetary Fund (IMF) covering US, India, Bahamas and Myanmar.

• He carried a doctorate from Yale University.

• He also carries M Phil from Oxford.

Reserve Bank of India (RBI)

• RBI was established on 1 April 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934.

• The Central Office of the Reserve Bank was initially established in Calcutta but was permanently moved to Mumbai in 1937.

• At present, it regulates banks, prints money and prevents volatility in the foreign exchange market. It is also the government’s banker and lender of last resort.

BRICS WOMEN PARLIAMENTARIANS’ FORUM PASSES JAIPUR DECLARATION

BRICS (Brazil, Russia, India, China and South Africa) women parliamentarians’ forum passed unanimously the Jaipur Declaration. The declaration was adopted by them on the concluding day of the BRICS Women Parliamentarians' Forum meet held in Jaipur, Rajasthan.

The declaration has emphasized the need to inform, communicate and educate citizens about developmental schemes.

Highlights

• The Declaration mentions the need to address climate change and protection of ecological system and forest as well as food security, expeditious parliamentary approval of SDG related legislation and adequate budgetary resources.

• It calls upon international financial institutions to extend support to developing and least developed countries and help them gain easier access to new and affordable technologies as envisaged under the UN Framework Convention on Climate Change and the Paris Agreement

• It also emphasizes on plans for incorporating gender concerns and greater involvement of women parliamentarians in integrating citizens in the development process.

Besides, the need to inform and educate citizens about the developmental schemes and institutionalisation of the BRICS Women Parliamentarians' Forum were also taken up in the declaration which was unanimously adopted.

Heads and members of delegation from Brazil, Russia, India, China and South Africa were present in the two-day meeting which held from 20 August to 21 August 2016.

KAMAL HAASAN CHOSEN FOR FRANCE’S CHEVALIER DE L’ORDRE ARTS ET LETTRES

The Minister of Culture and Communication, France, selected Kamal Haasan for the Chevalier de l'Ordre des Arts et Lettres (Knight in the National Order Arts and Letters).

The distinction is in recognition of his high level of artistic excellence and his distinguished career achievements.

Haasan is the second Tamil star after thespian Sivaji Ganesan to be honored with the prestigious French award.

About Kamal Haasan

Kamal Haasan is an Indian film actor, screenwriter and director.

He has won several Indian film awards including four National Film Awards and 19 Filmfare Awards.

He has starred in the highest number of films submitted by India for the Academy Award Best Foreign Language Film.

His breakthrough as a lead actor came in the 1975 drama Apoorva Raagangal.

• He won his first National Film Award for his portrayal of a guileless schoolteacher who cares for a childlike amnesiac in Moondram Pirai.

He was honoured with the Padma Shri in 1990 and the Padma Bhushan in 2014.

About Chevalier de L’Ordre Arts et Lettres

The Ordre des Arts et des Lettres is an Order of France, established on 2 May 1957 by the Minister of Culture.

Its purpose is the recognition of significant contributions to the arts, literature, or the propagation of these fields.

Its origin is attributed to the Order of Saint-Michel as acknowledged by French government sources.

SUMMER OLYMPICS 2016 CONCLUDED AT RIO DE JANEIRO

The 2016 Summer Olympics concluded at ceremony held at the Maracana Stadium, Rio de Janeiro, Brazil.

More than 11000 athletes from 207 National Olympic Committees, including first time entrants Kosovo, South Sudan and the Refugee Olympic Team, took part in the games.

The games featured 28 Olympic sports, including rugby sevens and golf, which were added to the Olympic programme in 2009.

The United States topped the medal table for the fifth time in the past six Summer Olympics, winning 46 gold medals and 121 medals overall. Great Britain and China finished in second and third respectively.

India at the Rio Olympics 2016

The Indian Olympic Association (IOA) had sent a total of 117 athletes, the nation's largest ever delegation in Summer Olympic history.

Indian bagged a total of two medals, one silver and one bronze, in the games, and stood at the 67th place in the medal tally.

Badminton player P V Sindhu won historic silver medal in women’s singles badminton event. With this, she became the first Indian woman to clinch a silver medal in Olympics.

Wrestler Sakshi Malik secured a bronze in the 58 kg category to become India's first female wrestler to win an Olympic medal.

India had qualified one artistic gymnast into the Olympic competition for the first time since 1964. Dipa Karmakar became the first Indian female ever to book an Olympic spot in the apparatus events and all-around event at the Olympic Test Event. She narrowly missed out in the bronze medal, finishing 4th in the finals of the event with a score of 15.066.

• Abhinav Bindra came fourth in the Men's 10m Air Rifle singles event after losing a shootoff for the top 3 to Serhiy Kulish, who finally won the silver.

At the 2016 Summer Olympics, Indian long distance runner Lalita Babar scored a time of 9:19.76 in her heat, qualifying to the final. With this, she became the first Indian in 32 years to enter a final in any track event. At the final, she finished 10th with a time of 9:22.74.

Key highlights of the 2016 Summer Olympics

The opening ceremony took place in the Maracana Stadium on 5 August 2016.

The Games were officially opened by Acting President of Brazil Michel Temer.

These were the first Summer Olympic Games under the IOC presidency of Thomas Bach.

Rio became the first South American city to host the Summer Olympics.

The two new sports for 2016 Olympic Games were golf and rugby sevens.

Due to the European migrant crisis and other reasons, the International Olympic Committee allowed athletes to compete as Independent Olympians under the Olympic Flag.

Due to the suspension of the National Olympic Committee of Kuwait, participants from Kuwait were allowed to participate under the Olympic Flag as Independent Olympic Athletes.

The official mascot of the 2016 Summer Olympics was Vinicius. It is named after musician Vinicius de Moraes. The mascot represented Brazilian wildlife and carries design traits of cats, monkeys and birds.

About 2020 Summer Olympics

The 2020 Summer Olympics will be held in Tokyo, Japan.

The city was announced as the host at the 125th IOC Session in Buenos Aires on 7 September 2013.

The games are planned to be held from 24 July 2020 to 9 August 2020.

 

 

 

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Last Updated on Tuesday, 23 August 2016 04:43
 

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