Home Daily Updates IMPORTANT CURRENT AFFAIRS & DAILY NEWS UPDATES : 18 - NOVEMBER - 2016
IMPORTANT CURRENT AFFAIRS & DAILY NEWS UPDATES : 18 - NOVEMBER - 2016
Saturday, 10 December 2016 05:30

 

 

 



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DAILY NEWS UPDATES

18- NOVEMBER - 2016

 

:: NATIONAL ::

GOVT COME UP WITH MEASURES

  • All new bank accounts, except those opened under the Jan Dhan Yojana, and time deposits in banks, post offices and co-operative banks will now require a PAN card.
  • Even as the Centre eased its demonetisation norms to facilitate cash flows for farmers and families of couples about to get married.
  • Up to Rs. 2.5 lakh each can be withdrawn by the prospective bride and groom’s family for their wedding expenses and farmers can withdraw up to Rs. 25,000 a week, even as the Centre reduced the exchange limit for old notes to Rs. 2,000 from the Rs. 4,500 earlier.
  • Debit card holders can now withdraw up to Rs. 2,000 from their accounts by swiping their cards at select petrol pumps with SBI POS devices, following a tie-up between public sector oil marketing companies and the bank.
  • People are already allowed to pay for their fuel using old notes till the midnight of November 24.
  • The Finance Ministry allowed traders registered with agricultural produce markets to withdraw up to Rs. 50,000 a week from banks, while farmers were given 15 more days to pay crop insurance premium.

PROCESS OF DEMONETISATION STARTED IN MAY

  • “The process of changing the currency notes had been long overdue. It had been pending since 2011. When the NDA government came to power, the discussions began.
  • But the entire process started moving in a decisive direction since May this year, when Prime Minister Narendra Modi gave the go-ahead.
  • There is rationing of cash as printing started only two months ago as the machines had to be attuned to the new plates and security features.
  • Magenta Rs. 2,000 notes contain the same “covert” security features as the old Rs. 500 and Rs. 1000 notes.
  • Changing the security features is a huge exercise and takes anywhere between five and six years. The last time such an exercise was done was in 2005 when currency notes of all denominations with new security features were introduced.
  • There are three types of security features in a note: overt, which can de detected by the naked eye; semi-covert, detected by a hand-held machine; and covert, visible only in big machines installed at banks.
  • The government has said that the introduction of new notes would check counterfeiting.
  • According to investigations done by the National Investigation Agency (NIA), much of the fake currency in circulation in India was printed in the government press of Pakistan.
  • It would take years to counterfeit the new notes. Any country changes its notes every 7-8 years with additional security features to check counterfeiting.
  • There was no major change in the Rs. 1,000 notes introduced in 2000, while changes in the Rs. 500 note, were done over a decade ago.

ILLEGAL DRUGS TAKES HUGE HIT AFTER DEMONETISATION

  • The ganja smugglers in the Visakha Agency area of are in a fix after Prime Minister Narendra Modi’s announcement of demonetisation of Rs. 500 and Rs. 1000 notes.
  • It is learnt that huge stock of dry ganja piled up in interior villages of the Agency area, and they are unable to move the stock, as the Adivasi farmers are not accepting the notes of higher denomination.
  • In Balapam village in Chintapalli mandal, the village, there is stock worth of about Rs. 3 crore rotting.
  • The Visakha Agency area has gained notoriety in the last few years after middlemen and smugglers turned the Adivasis, who lived by growing family-sustainable paddy and horticulture, to potent ganja cultivators.
  • It is revenue spinner for most of the Adivasis in the interior parts of the Agency area where the Maoists hold sway and as per an estimate over 150 villages in the nine out of 11 agency mandals have switched over to cultivation of the hemp.
  • Though there is no accurate estimate of how many acres in the hilly terrain is under ganja cultivation, Excise Department’s rough estimate is around 5,000 to 7,000 acres.
  • The yield per acre is around 1,000 to 1,200 kgs and the rate paid to the farmers is around Rs. 2,000 per kg. This suggests that the ganja business at the cultivation point exceeds Rs. 1,000 crore annually.
  • In the entire supply chain, from the farmers to the end users, the mode of payment is cash and ever since Rs. 500 and Rs. 1000 have been demonetised, the smugglers neither have been able to legalise the bulk cash that they possess nor they have been able to pay the farmers and move the stock.

:: INTERNATIONAL ::

FIGHT IN SYRIA SHOWS NO SIGN OF ENDING

  • Syrian government and Russian warplanes pounded rebel-held parts of northern Syria, including battered second city Aleppo, where food aid rations were near-depleted after months of regime siege.
  • The renewed bombardment killed at least 35 people in Aleppo city in 24 hours, and sparked anger from Washington and the United Nations.
  • It came as President Bashar al-Assad said in an interview that U.S. president-elect Donald Trump could be a “natural ally” if he fights “terrorists”.
  • Damascus considers all those who oppose Mr. Assad’s government to be “terrorists” like the Islamic State jihadist group, which Mr. Trump has said should be the focus of U.S. involvement in Syria.
  • The regime and its ally Russia launched a wide-ranging assault on rebels on Tuesday, shattering a month of relative calm in the rebel-held east of devastated Aleppo. But Moscow denied carrying out air strikes on east Aleppo.
  • The Syrian Observatory for Human Rights, a Britain-based monitor, said six children were among the 35 killed in government strikes and artillery fire on besieged opposition-held districts.
  • The Independent Doctors Association, a medical group, said barrel bomb attacks had damaged two facilities it supports in eastern Aleppo — the children’s hospital and the only blood bank in the area.
  • Medical facilities have regularly been hit, and sometimes completely destroyed, in the government's fight against rebels, though Damascus and Moscow deny they target hospitals.

PMO ASSURED THAT SUPPLY OF CURRENCY NOTES TO BE INCREASED

  • The Prime Minister’s office assured bankers that it will increase the supply of currency notes to tide over an acute cash shortage.
  • The call was attended by the chief executives of all the banks as well as chief secretaries of various states. Reserve Bank of India (RBI) and other government officials were also present on the call.
  • The Centre has assured that cash would be airlifted, if necessary, so that it reached currency chests in time, the banker said.
  • According to other officials present in the meeting, the central bank and some large public sector bank chiefs raised the issue that bank branches were facing a shortage of cash.The RBI said there was no reason for panic.
  • Currency notes are distributed to bank branches from the 4,000-odd currency chests in the country - of which, more than 2,600 are owned by the State Bank of India and its associate banks.
  • Chief executives of some smaller private sector banks raised the issue that cash distribution was ‘lop sided’ in favour of large banks. Many small lenders do not have their own currency chests and have to depend on other banks for supply of cash.
  • The recalibration of automated teller machines that started on Thursday is also taking time, bankers said. The ATM task force, which was set up to quicken the process, had asked banks to recalibrate 12,500 machines per day.

INDIA’S CAD TO REMAIN AT A LOW LEVEL

  • India’s current account deficit is expected to stay comfortable at $10.1 billion in this financial year, largely on account of likely demand moderation post the demonetisation move, says a Citigroup report.
  • According to the global financial services major, the country’s current account could likely widen in fiscal year 2017-18 to $30 billion or 1.2 per cent of GDP.
  • As per the report, the current account could likely widen in financial year 2018 as average crude prices are expected to rise, along with the gold demand in the next fiscal year.
  • Moreover, higher exports growth and non-oil, non gold imports are likely to widen the country’s current account situation as well.

GOVT SAYS TOTAL SOLAR POWER CAPACITY REACHED 8.7 MW

  • An addition of 1,964.76 MW in the first seven months of the current fiscal has taken the total solar power generation capacity in the country to 8,727.62 MW, the Parliament was informed.
  • As on October 31, 2016, solar energy projects with an aggregate capacity of over 8727.62 MW have been installed in the country,” New and Renewable Energy Minister said in written reply to Lok Sabha.
  • He stated that 1,964.76 MW of solar power generation capacity has been added in the country till October-end of this financial year. During last fiscal, 3,018.88 MW of solar power generation capacity was added.
  • He said the World Bank had approved a total amount of $625 million, including a Clean Technology Fund (CTF) loan of $120 million and a CTF grant of $5 million for grid-connected rooftop solar programme.

:: IMPORTANT DETAILED NEWS ::

CHINA'S SUNWAY TAIHULIGHT NAMED WORLD'S FASTEST SUPERCOMPUTER

China’s Sunway TaihuLight was recently declared the world’s fastest supercomputer. The revelation was made in the latest edition of the semi-annual TOP500 Supercomputer list that was released.

It is the eighth time in a row that a Chinese-made computer has taken the semi-annual TOP500 crown. It is also the first time a Chinese supercomputer has won without any U.S. processors or technology.

The TOP500 list is considered one of the most authoritative rankings of the world’s supercomputers. It is compiled on the basis of the machines’ performance on the Linpack benchmark by experts from U.S. and Germany.

Top 5 Super Computers in TOP500 list

An Intel-based Chinese Tianhe-2 supercomputer is on the second position in the list. It can perform calculations with processing speed of 33.86 Pflops.

• Supercomputer Titan of the US Department of Energy (DOE) is on the third place. It has a performance of 17.59 Pflops.

• IBM Sequoia Supercomputer system installed at US DOE’s Lawrence Livermore National Laboratory grabbed the fourth position in the list.

The Cori supercomputer is on the fifth position on the list. It is a new system installed at US Lawrence Berkeley National Laboratory. It has a performance of 14.0 petaflop/s.

About Sunway TaihuLight

The Sunway TaihuLight is also ranked as the third most energy-efficient supercomputer in TOP500, with an efficiency of 6051.30 MFLOPS/W.

The machine is designed by the National Research Center of Parallel Computer Engineering & Technology.

It is located at the National Supercomputing Center in Wuxi in the city of Wuxi, in Jiangsu province, China.

It is capable of performing 93 million-billion calculations per second, which is almost three times as fast as the second-ranked Tianhe-2.

INDIAN NAVY INDUCTS FOUR UNDERWATER SONAR SYSTEMS DEVELOPED BY DRDO

The Indian Navy inducted four types of indigenously developed SONAR systems. The sonar systems are capable of boosting the Navy’s underwater surveillance capabilities.

The four sensors were handed over to the Chief of Naval Staff Admiral Sunil Lanba by Union Defence Minister Manohar Parrikar.

The systems have been designed and developed by Naval Physical & Oceanographic Laboratory (NPOL), a Kochi based laboratory of Defence Research and Development Organisation (DRDO).

The four sonar systems are:

• ABHAY: It is an advanced Active-cum-Passive integrated SONAR system. It is designed and developed for the smaller platforms such as shallow water crafts and coastal surveillance/patrol vessels. It is capable of detecting, localizing, classifying and tracking sub-surface and surface targets in both its active and passive modes of operation.

• HUMSA-UG: It is designed for upgrading the existing HUMSA SONAR system of the Indian Naval platforms. This system is proposed to be installed on seven ships of three different classes of ships.

• NACS: It determines the in-situ performance of the SONAR systems, which are used to find the frequency-dependent 3-D transmission and reception characteristics of the SONAR. It is also used to measure the magnitude and phase characteristics of the SONAR transmission and reception electronics and the transducers.

• AIDSS: The system stands for Near-field Acoustic Characterisation System. It is a distress SONAR. It is an Emergency Sound Signalling Device, which is used to indicate that a submarine is in distress and enable quick rescue and salvage.

WORLD INTERNET CONFERENCE 2016 CONCLUDES IN WUZHEN, CHINA

The 2016 World Internet Conference concluded in Wuzhen, China.

The theme of the 3rd World Internet Conference, which commenced, was Innovation-driven Internet Development for the Benefit of All – Building a Community of Common Future in Cyberspace.

On the other hand, the World Internet Conference Internet Culture Forum was held in the Wuzhen Internet International Conference and Exhibition Center on 17 November 2016. The theme of the Forum was Mutual-learning among Civilizations and Development of the Internet Culture.

The forum consisted of three parts with an opening at the beginning. Two panel discussions titled Enhancing People-to-People Exchanges, Promoting Mutual Learning Among Civilizations and Pushing for Better Cyberculture were conducted subsequently.

About the World Internet Conference

The World Internet Conference is an annual event organized by government agencies in China.

It is organised to discuss Internet issues and policy.

It was first held in 2014.

JAGDISH SINGH KHEHAR APPOINTED EXECUTIVE CHAIRMAN OF NATIONAL LEGAL SERVICES AUTHORITY

The Union Government announced the appointment of Jagdish Singh Khehar as the Executive Chairman of the National Legal Services Authority (NALSA).

Khehar, a judge of the Supreme Court, will succeed Anil R. Dave.

About National Legal Services Authority

The National Legal Services Authority of India was formed on 5 December 1995.

It was instituted under the authority of the Legal Services Authorities Act 1987.

Its purpose is to provide free legal services to eligible candidates and to organize Lok Adalats for speedy resolution of cases.

The key objective of NALSA is speedy disposal of cases and reducing the burden of judiciary.

The Chief Justice of India is patron-in-chief of NALSA while second senior most judge of Supreme Court of India is the Executive-Chairman.

There is a provision for similar mechanism at state and district level also headed by Chief Justice of High Courts and Chief Judges of District courts respectively.

PV SINDHU WINS CHINA OPEN SUPER SERIES TITLE

PV Sindhu won the 700000 US dollars China Open badminton tournament. This was the first Super Series Premier title for the Indian Olympic silver medallist and two-time bronze medallist at World Championship.

In the summit clash that lasted for an hour and nine minutes, Sindhu defeated Sun Yu of China 21-11, 17-21, 21-11. The final was played at Fuzhou, China.

With this win, she also became the third non-Chinese woman to win the title. The previous two winners were Malaysia’s Wong Mew Choo (2007) and India’s own Saina Nehwal (2014).

List of Winners

• Men’s Singles: Jan O Jorgensen of Denmark won the men’s singles title. In the final clash, he defeated Chen Long 22-20 21-13. This was first World Super Series title for Jorgensen in over 28 months.

• Women’s Singles: PV Sindhu of India won the women’s singles title. This was a first World Super Series title for Sindhu.

• Men's Doubles: Marcus Fernaldi Gideon (Indonesia) and Kevin Sanjaya Sukamuljo (Indonesia) won the men’s doubles title.

• Women's Doubles: Chang Ye-Na (South Korea) and Lee So-hee (South Korea) won the women’s doubles title of the super-series.

• Mixed Doubles: Tontowi Ahmad (Indonesia) and Liliyana Natsir (Indonesia) won the mixed title.

The China Open is badminton tournament that is annually held in China. In 2007, it became a part of the BWF Super Series tournaments in 2007.

 

 

 

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Last Updated on Saturday, 10 December 2016 08:44