Home Daily Updates IMPORTANT CURRENT AFFAIRS & DAILY NEWS UPDATES : 11- OCTOBER - 2016
IMPORTANT CURRENT AFFAIRS & DAILY NEWS UPDATES : 11- OCTOBER - 2016
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Wednesday, 12 October 2016 07:03

 

 

 


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DAILY NEWS UPDATES

11- OCTOBER - 2016

:: NATIONAL ::

NORTH EAST MONSOON TO COME ON TIME

  • The much-awaited northeast monsoon, accounting for about 50 per cent of the annual rainfall of Tamil Nadu, is not likely to set in early. Also, the State is likely to experience around 40 cm rainfall in the next three months.
  • These aspects have emerged as the authorities, belonging to both the Central and State governments, are making preparations to face any contingency once the monsoon arrives and the State starts feeling the full force of the season.
  • The normal date of onset of the monsoon is October 20, with a deviation of plus or minus seven days. The withdrawal process of the southwest monsoon is happening only now.
  • Field officials have been advised to take action against encroachments, which are in the nature of permanent structures, on water courses and bodies.

INDIA TO DEPLOY AN INDIGENOUSLY DEVELOPED ROVER ON THE LUNAR SURFACE

  • India is getting ready to deploy an indigenously developed rover on the lunar surface for on-site analysis of various samples and relay them to the earth station.
  • Chandrayaan-II Mission includes launching of lunar explorations by geosynchronous launch vehicles (GSLV Mk-II) with clinical precision.
  • The wheeled rover would be useful in using multiple applications by collecting soil and rock sediments for on-site analysis and transmitting the findings to the earth station.
  • ISRO has also taken up ambitious programme to build vehicles with cryogenic engines with bigger capacity than GSLV, Mr. Ranganathan, who came here to take part along with other scientists in World Space Week celebrations, said.
  • India was ahead of other countries in space technology by continuously test-firing and deploying satellites of various types and configurations for use for communication and other applications.
  • LMV3, a full-fledged vehicle will be launched in the first half of 2017. The heavy launch capability launcher would enable ISRO’s self-reliance in launching of satellites. It will send four tonne class geosynchronous satellites into the orbit.

DEFENCE MINISTRY HAS STARTED THE PROCESS TO REPLACE MIG-21S

  • Defence Ministry has issued a Request For Information (RFI) to global aircraft manufacturers, formally starting the process to select yet another fighter to be built in India under technology transfer.
  • RFI for a single-engine fighter to be manufactured in India with extensive technology transfer was issued this week to countries involved in fighter aircraft manufacture. Based on the responses, a detailed RFP (Request for Proposal) would be issued later.
  • Last month, India and France concluded a government-to-government deal worth €7.87-billion deal for 36 Rafale multi-role jets in flyaway condition.
  • The selected aircraft is expected to replace the large number of MiG-21s in service, which will be phased out over the next few years.
  • Boeing and Lockheed Martin of the U.S. and SAAB of Sweden have already submitted detailed proposals to manufacture their F-18, F-16 and Gripen jets respectively in India under the ‘Make in India’ initiative.

:: INTERNATIONAL ::

INTER-SERVICES INTELLIGENCE CHIEF TO BE REPLACED

  • Chief of Pakistan’s powerful spy agency Inter-Services Intelligence (ISI), Lt. Gen. Rizwan Akhtar, is likely to be replaced within the next few weeks, a media report said.
  • Lt. Gen. Akhtar was appointed the Director-General of ISI in September 2014 and took office in November 2014, when he replaced the retiring Lt. Gen.Zaheer-ul-Islam.
  • The appointment is normally for a three-year period unless the ISI chief retires or is replaced by the Army chief.
  • The Nation , citing a security official privy to the development, reported of the impending change of command and said preparations were under way for the changes.
  • The corps commander of Karachi, Lt Gen Naveed Mukhtar, is most likely to replace him.

:: INDIA AND WORLD ::

PAKISTAN’S REFERENCE OF KASHMIR REJECTED BY INDIA

  • India has strongly rejected Pakistan’s references on Kashmir at the U.N., saying such remarks are a self-serving attempt by Islamabad to bring extraneous issues to the world body for its “territorial aggrandisement.”
  • India, exercising the Right of Reply after Pakistan’s envoy to the U.N.raised the Kashmir issue at the U.N, said that Pakistan had made references to the Indian State of J&K in a self-serving attempt to bring extraneous issues before the committee.
  • Such efforts were a flagrant misuse of the body for Pakistan’s own territorial aggrandisement, India said, recalling that the Special Committee on Decolonisation was concerned only with Non-Self-Governing Territories.
  • It asserted that Jammu and Kashmir was an integral part of India.
  • Exercising its Right of Reply, Pakistan said India continued to perpetrate misinformation on the Kashmir issue year after year.

:: BUSINESS AND ECONOMY ::

GOVERNMENT TO GIVE PUSH TO STALLED HYDRO PROJECTS

  • In a bid to boost hydro power sector, the government is planning to formulate a policy to push stalled projects and extend the benefits for renewable sources like wind and solar to hydro projects beyond 25 MW capacity.
  • According to a proposal of the Power ministry, projects with capacities of up to 25 MW have been categorised as small hydro-power projects and would get the benefits as extended to other renewable energy projects.
  • Hydro power potential in the country has been estimated at about 150 GW, with 50 GW coming from Arunachal Pradesh alone.
  • The Power ministry had earlier said that the planned hydro power generation capacity addition of 4,371 MW out of the total target of 10,897 MW in the 12th Plan will not be completed.

A FEDERAL APPEALS COURT REINSTATED A $120 MILLION JURY AWARD FOR APPLE

  • A federal appeals court reinstated a $120 million jury award for Apple Inc. against Samsung, marking the latest twist in the fierce patent war between the world's top smartphone manufacturers.
  • The court said that there was substantial evidence for the jury verdict related to Samsung's infringement of Apple patents on its slide-to-unlock and autocorrect features, as well as quick links.
  • The three-judge panel did not follow U.S. Supreme Court limits on the scope of its review, because it examined evidence outside the record of the case.
  • Representatives for Samsung and Apple could not immediately be reached for comment.
  • Infringement of the quick links feature accounted for nearly $99 million of the damages.

:: IMPORTANT DETAILED NEWS ::

MYNTRA APPOINTS DIPANJAN BASU AS CHIEF FINANCIAL OFFICER

Online fashion portal Myntra announced the appointment of Dipanjan Basu as the Chief Financial Officer (CFO).

Basu’s appointment will be effective from 17 October 2016.

Who is Dipanjan Basu?

Previously, Dipanjan Basu served as the Chief Finance & Operating Officer for Wipro’s Digital & Consulting Business where he was responsible in building and setting up new businesses, M&A and investments in startups.

He also oversaw the finance function for the Manufacturing & Healthcare business at Wipro.

He has been instrumental in driving billion dollar deals and leading business process re-engineering at Wipro.

He started his career at Wipro as a young professional and built his way up to being one of the youngest Vice Presidents at Wipro.

He also had a two year stint with Quatrro Risk Management Services where he was the CFO of the company.

He is a Chartered Accountant from the Institute of Chartered Accountants of India and was ranked 7th in India in the CA final exams.

About Myntra

Myntra is an Indian e-commerce company of fashion and casual lifestyle products.

It is headquartered in Bengaluru, Karnataka.

The company was founded in 2007 by Indian Institute of Technology graduates with a focus on personalisation of gift items.

By 2010, Myntra shifted its focus to the online retailing of branded apparel.

In May 2014, Myntra.com merged with Flipkart to compete against Amazon, which entered the Indian market in June 2013.

SHAKTI SINHA APPOINTED AS DIRECTOR OF NEHRU MEMORIAL MUSEUM AND LIBRARY

Retired IAS officer Shakti Sinha was appointed as the Director of Nehru Memorial Museum and Library (NMML). His appointment was approved by the Appointments Committee of the Cabinet (ACC).

Sinha, who served in the Prime Minister's Office during Atal Bihari Vajpayee’s tenure, was also Director in India Foundation, a think tank aligned to the RSS.

The post of Director of NMML was vacant since the resignation of its previous Director Mahesh Rangarajan in the year 2015.

Comment
The appointment of Shakti Sinha as Director of Nehru Memorial Museum and Library has put to rest the controversy sparked by the inclusion of his name to the post.

Sinha’s candidature not only prompted the resignation of Executive Council Member Pratap Bhanu Mehta, but it also led to the public questioning of his credentials and his suitability to the post.

His appointment was also questioned by Nitin Desai, an economist and former under secretary general of the UN.

TIRUPATI AIRPORT AWARDED BEST TOURIST FRIENDLY AIRPORT

Airports Authority of India’s Tirupati Airport was awarded the Best Tourist Friendly Airport under the category for State Annual Excellence Awards for the year 2015-16 by Andhra Pradesh Tourism.

The award was presented on the eve of World Tourism Day by the Chief Minister of Andhra Pradesh Nara Chandra Babu Naidu at Bhawani Islands, Vijayawada.

About State Annual Tourism Excellence Awards

The State Annual Tourism Excellence Awards under various segments of Travel and Tourism Industry are awarded by Department of Tourism, Government of Andhra Pradesh.

They are awarded for maintaining excellent Customer friendly relations with tourists and passengers, coinciding with World Tourism Day Celebrations.

About Tirupati Airport

Tirupati Airport was established in the year 1976.

It is a public airport located at Renigunta, a suburb of Tirupati in the state of Andhra Pradesh.

The airport is located 14 km away from Tirupati and 39 km from Venkateswara Temple, Tirumala.

SERVICES CLINCHED OVERALL TITLE AT 56TH NATIONAL ATHLETICS

Services emerged as the overall champions at the 56th Atheletics Open Nationals that ended in Lucknow, Uttar Pradesh. The highlight of the final day's action was a surprise win in triple jump by the Airforce Sergent Malkit Singh that sealed the gold.

Malkit, who earlier in September 2016 set a new meet mark of 16.47meter during the Inter-Services championships, added 10cm to his personal best on the second round that sealed the gold.

Rakesh Babu, the teammate of Malkit stood second with 16.09 meter mark, while three-time Olympian Renjith Maheswary (Railways) stood third with 16.02meter mark.

On the same day, distance runners Suriya Loganathan and G Lakshmanan claimed their second gold medals through 10000 metres victory.

Ace Karnataka sprinter HM Jyothi added the 200 metres gold to her earlier win in 100 metres. Teammate Reena George claimed a silver in this event also. Middle distance star Ajay Kumar Saroj was the other athlete to win a double through 800 metres, upsetting top class runners today. His first win came in 1500 metres.

AMBATI VENU APPOINTED AS MANAGING DIRECTOR OF ABBOTT INDIA LTD

Ambati Venu was appointed as Managing Director of Abbott India Ltd. The appointment came almost five months after its previous MD Rehan Khan resigned from the company in April 2016.

Venu was appointed for a five-year term and will report to Bhasker Iyer, Vice President with Abbott’s Established Pharmaceuticals Division.

About Ambati Venu

• Venu was with GlaxoSmithKline Consumer Healthcare where he served for over two decades.

• Most recently, Ambati Venu was the Regional Vice President and General Manager- Asia, GSK Consumer, where he led 11 Asian countries.

• Venu’s background in FMCG and OTC medicine, ability to embrace diverse cultures, engender trust and deliver productivity-led growth will be key assets at Abbott.

 

 

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