Home Daily Updates IMPORTANT CURRENT AFFAIRS & DAILY NEWS UPDATES : 12 - SEPTEMBER - 2016
IMPORTANT CURRENT AFFAIRS & DAILY NEWS UPDATES : 12 - SEPTEMBER - 2016
Monday, 12 September 2016 10:39

 

 

 


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DAILY NEWS UPDATES

12- SEPTEMBER - 2016

: NATIONAL ::

INDIA WINS GOLD AND BRONZE AT PARALYMPICS

  • Two of India’s athletes — ThangaveluMariyappan (21) of Tamil Nadu and Varun Singh Bhati of Noida — scripted history by winning the gold and bronze medals respectively in the men’s high jump T-42 event at the Paralympics in Rio.
  • While Mariyappan jumped 1.89 metres, Bhati registered a personal best of 1.86 metres.
  • Chief Minister Jayalalithaa announcing a reward of Rs. 2 crore to the first Indian to win a gold medal in the high jump event in Paralympics.
  • At the age of five when he was on the way to school. A bus had run over his right leg, crushing it below the knee, leaving him with a permanent disability. As a child, he was fond of volleyball.

KERALA GOVT TO ISSUE PROMISSORY NOTES TO WORK CONTRACTORS

  • Kerala State government has decided to issue promissory notes to works contractors against their pending bills for discounting it before financial institutions.
  • The promissory notes will be issued under Section 4 of the Negotiable Instruments Act, 1881, binding the government to making prompt payments.
  • The State government has been forced to resort to this mechanism to pay contractors bill because it had to scrap the bill discounting system it had introduced earlier following objections from the Reserve Bank of India (RBI).
  • The bill discounting system had been introduced to help the State government to tide over financial crunch as a result of the frequent huge outflow on contractors bills.
  • The delay in payment of bills had a chain effect because of its adverse impact on development projects.
  • The promissory notes will be issued to contractors who opt for the scheme. It will be operated through an e-platform, with seamless interface for participation of financial institutions.
  • The contractor can present the promissory note to a financial institution for discounting it. The government will reimburse half of the discounting charges subject to a maximum of 5 per cent per annum.
  • In case of default in payment, the government will pay 12 per cent interest on the unpaid sum.

PRESIDENT SAYS INDIA REQUIRES PEOPLE WHO CAN WORK FOR THE COUNTRY

  • Observing that the 21st century is witnessing chaos and strife of a very virulent nature, President Pranab Mukherjee said the country required men and women, who would work “tirelessly and selflessly, even at the peril of their lives.”
  • “More than ever before, India requires young men and women to take up the challenge of navigation through troubled waters and work tirelessly and selflessly even at the peril of their lives in the service of our Mother land,” the President said.
  • The country’s security challenges apparently went much beyond conventional borders and conventional threats, including a sizeable diaspora, to protection in unstable regions, energy security issues, Mr. Mukherjee said.
  • \The cadets who became officers in the Army on the completion of their training at the Academy have come from various walks of life.

:: INTERNATIONAL ::

AGREEMENT REACHED FOR TRUCE IN SYRIA

  • The United States and Russia working in lockstep against the Islamic State group and al-Qaeda’s affiliate in Syria.
  • A rejuvenated truce that will compel President Bashar al-Assad’s air and ground forces to pull back. New flows of badly needed humanitarian aid.
  • U.S. Secretary of State John Kerry and Russian Foreign Minister Sergey Lavrov capped another marathon meeting in Geneva to present their latest ambitious push to end Syria’s devastating and complex war.
  • The potential breakthrough deal, which launches a nationwide cessation of hostilities, will hinge on compliance by Mr. Assad’s Russian-backed forces and U.S.-supported rebel groups, plus key powers such as Turkey, Iran and Saudi Arabia.
  • The ultimate hope is to silence the Syrian guns so that the long-stalled peace process under U.N. mediation can resume between Mr. Assad’s envoys and representatives of the opposition, while the two world powers focus on battling jihadists.
  • The U.S. and Russia Now, are also lining up in an unexpected new military partnership targeting the IS and al-Qaeda-linked militants.
  • The military deal would go into effect after both sides abide by the truce for a week and allow unimpeded humanitarian deliveries. Then, the U.S. and Russia would begin intelligence sharing and targeting coordination.

:: SCIENCE AND TECHNOLOGY ::

ASTRONOMERS HAVE FOUND A MAGNETAR THAT SPINS MUCH SLOWER THAN THE SLOWEST KNOWN

  • Astronomers have found evidence of a magnetar — magnetised neutron star — that spins much slower than the slowest of its kind known until now, which spin around once every 10 seconds.
  • The magnetar 1E 1613 — at the centre of RCW 103, the remains of a supernova explosion located about 9,000 light years from Earth — rotates once every 24,000 seconds (6.67 hours), the researchers found.
  • These exotic objects possess the most powerful magnetic fields in the universe — trillions of times that observed on the Sun — and can erupt with enormous amounts of energy.
  • New data from trio of high-energy telescopes, and archival data from Chandra, Swift and European Space Agency’s XMM-Newton confirmed that 1E 1613 has the properties of a magnetar, making it only the 30th known.
  • Rotation of once every 6.67 hours, much slower than the slowest magnetars known until now, which spin around once every 10 seconds.
  • This would make it the slowest spinning neutron star ever detected, the researchers found.
  • Astronomers expect that a single neutron star will spin quickly after its birth in the supernova explosion and will then slow down over time as it loses energy.

:: BUSINESS AND ECONOMY ::

OTHER COUNTRIES IN THE BRICS ARE OPPOSED TO CHINESE FREE TRADE PROPOSAL

  • India and three others in the BRICS bloc — Brazil, Russia and South Africa — have cold-shouldered China's attempt to bring to the negotiating table a proposal for a Free Trade Agreement (FTA) between the five major emerging economies.
  • While Beijing’s proposal for a 'BRICS FTA' is aimed at boosting trade ties in the grouping through binding commitments on eliminating tariffs, BRICS members barring China are not keen on such a pact.
  • Their apprehensions about the plan include the fear that it could lead to a surge in imports of Chinese goods into their territory — in turn, hurting local manufacturing.
  • The development comes amid hectic preparations for the BRICS Trade Ministers Meeting on October 13 and the first BRICS Trade Fair from October 12 to 14 (both in Delhi) as well as the Eighth BRICS Summit (to be held in Goa) on October 15-16.
  • There will only be a framework cooperation agreement on matters related to small and medium enterprises, services sector and Intellectual Property Rights (IPR).
  • BRICS members will also consider evolving mechanisms for single window clearance as well as to speedily resolve non-tariff barriers that are hurting trade.
  • India said it is already participating in negotiations on the Regional Comprehensive Economic Partnership (or RCEP, a proposed mega-regional FTA between the 16 Asia-Pacific nations including India and China).
  • New Delhi also raised concerns regarding a widening goods trade deficit with China. India’s goods trade deficit with China has escalated from $1.1 billion in 2003-04 to $52.7 billion in 2015-16, according to Indian government statistics.
  • The forthcoming BRICS Trade Ministers Meeting would look at a cooperation agreement for an exchange of services trade data, in addition to discussions on the proposed ‘BRICS Visa’.

SINGAPORE EXCHANGE TO EXIT FROM BOMBAY STOCK EXCHANGE

  • Singapore Exchange, along with some of the other top shareholders of BSE like Atticus Mauritius, Caldwell India Holdings Inc, Acacia Banyan Partners and GKFF Ventures plan to sell their shares in the forthcoming IPO of the exchange.
  • While Singapore Exchange holds a 4.7 per cent stake in BSE, Quantum (M) Ltd and Atticus Mauritius both have 3.7 per cent stake each.
  • Interestingly, domestic institutional investors like State Bank of India (SBI) and Life Insurance Corporation of India (LIC) have chosen not to sell any shares as part of the public issue.
  • Both the entities hold 4.7 per cent each in BSE, which was established in 1875 and is the oldest stock exchange in Asia.
  • BSE would become the second exchange in India to be listed after Multi Commodity Exchange of India (MCX).
  • BSE’s bigger rival the National Stock Exchange (NSE) has also initiated the process to get listed.
  • BSE and NSE compete with each other in almost all the segments of capital markets. BSE has a larger share in the SME space.

:: IMPORTANT DETAILED NEWS ::

ODISHA GOVERNMENT INKS LEASE AGREEMENT ON JAGATJORE SHRIMP CULTURE PROJECT

Odisha government signed a long-term lease agreement with Falcon Marine Exports for the operation of Jagatjore Shrimp Culture Project in coastal Kendrapara district. Falcon Marine Exports was the highest bidder of the project.

The lease period will be for 15 years which, will fetch revenue of 13 crore rupees to the government.

Jagatjore-Banapada Shrimp Culture Project

The project was first implemented in 1992-93 in Mahakalpada Tahasil of Kendrapara District executed by the State Fisheries Department. It was executed with loan assistance from World Bank with a cost of 25.23 crore. It was completed in 2000.

Odisha took up the Shrimp culture in 2001, under which 81 lakh rupees was provided to the BPL beneficiaries as working capital. But, the project became defunct as only crop was partially successful.

The government decided to revive the project, which was lying idle for years on the suggestions from the Seafood Exporters Association. The association requested the government to use the developed infrastructure.

NOTE: Odisha in 2015 became the first State of the country to adopt a Comprehensive Fishery Policy. The policy was adopted with an aim to double the fish production and achieve export earnings of 10000 crore rupees within 5 years. Besides, the state in June 2015 also notified the Brackish Water Land Leasing Policy to make available about 24000 hectare of land in coastal area for brackish water aquaculture aiming to change the economy of coastal area.

ODISHA GOVERNMENT LAUNCHES BIJU KANYA RATNA YOJANA

The Odisha Government launched the Biju Kanya Ratna Yojana (BKRY) in three districts of the state.

The scheme was launched for the development of girls.

The scheme will be implemented for three years in GanjamDhenkanal and Angul districts on a pilot basis.

The objective of the Biju Kanya Ratna Yojana is to improve Sex Ratio at Birth (SRB) and Child Sex Ratio (CSR) in the three districts.

The CSR has declined from 967 in the 1991 census to 941 in the 2011 census in Nayagarh, Dhenkanal, Angul and Ganjam districts. However, Nayagarh is covered under Beti Bachao Beti Padhao scheme.

Key highlights of the Biju Kanya Ratna Yojana

The BKRY will ensure enrolment of girls in elementary education.

It will track dropout girls from schools and create a better environment for them.

The scheme will create awareness on gender discrimination against girls, their health, nutrition and education.

The scheme also includes provision of toilets for girls in every school, self defence training for girls, promotion of access to education, sensitising adolescent girls on sexual and reproductive health issues, training of elected representatives/grassroots functionaries as community champions to mobilise communities to improve CSR and girls’ education.

According to the provision of BKRY, the state government will spend 3.5 crore rupees for the three-year planned scheme, which is expected to be completed by 31 March 2019.

ABHINAV BINDRA ANNOUNCES RETIREMENT FROM SHOOTING

Abhinav Bindra, India's lone individual Olympic gold medallist, officially announced his retirement from shooting.

He announced his retirement after playing for almost two decades. In Rio Olympics 2016, Bindra nearly missed a second Olympic medal by a whisker and came fourth.

Presently, he is the Chairman of a review committee formulated by the NRAI to examine and identify in a cold and ruthless manner the reason as to why shooting failed to secure any medal at Rio Olympic Games.

About Abhinav Bindra

• Abhinav Bindra is the first Indian to win an individual Gold medal in Olympic since 1900 the year our country participated in the Olympic Games.

• Having started his Olympic journey in Sydney back in 2000, he qualified in three Olympic finals including his golden journey of Beijing in 2008 in his pet

10m air rifle, while he missed out in Sydney and London.

• In 2001, he was awarded with the Rajiv Gandhi Khel Ratna Award and Maharaja Ranjit Singh Award.

• He won the Uttaranchal Praman Patra Award in 2003.

• He was conferred with the Madhya Pradesh Khel Ratna in 2006.

• In 2006, he received Punjab Praman Patra Award.

• He won Padma Bhushan in 2009, the same year he was also conferred with Rajiv Gandhi Award, Bharat Shiromani Award and India Youth Sports Icon.

K K AGGARWAL ELECTED AS NATIONAL PRESIDENT OF IMA

Cardiologist K K Aggarwal was unanimously elected as the National President of the Indian Medical Association (IMA) for the year 2016-17. Aggarwal is currently the Secretary General of the IMA.

Moreover, the association also elected Dr Ravi Wankhedkar from Maharashtra as the National President for the year 2017-18 and Dr R N Tandon as Honorary Secretary General.

All these appointments will be effective from 28 December 2016.

About Indian Medical Association (IMA)

• Indian Medical Association is the only representative national voluntary organisation of doctors of modern scientific system of medicine.

• Headquartered in Delhi, IMA has over 253000 doctors as its members through more than 1650 active local branches spread across the country.

• It looks after the interest of doctors as well as the well-being of the community at large.

 

 

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Last Updated on Wednesday, 14 September 2016 03:53