Friday, 20 January 2017

Current Affairs & GK Update 20th January 2017

1. Delhi Police commissioner Alok Verma appointed as new CBI director:
  • A 3-member committee headed by PM Narendra Modi has appointed Delhi Police chief Alok Kumar Verma (1979-batch IPS officer) as next Central Bureau of Investigation (CBI) Director.
  • His appointment was approved for a period of 2 years.
  • The Central Bureau of Investigation (CBI) is the domestic intelligence and security service of India, which simultaneously serves as the nation's prime federal law enforcement agency.
  • He will take over from interim director Rakesh Asthana, who was handed the reins of the premier investigating agency after former director Anil Sinha retired on December 2, 2016.
2. Entrepreneurship Development Scheme inaugurated in Mizoram:
  • Mizoram Chief Secretary Lalmalsawma inaugurated the Entrepreneurship Development Scheme (EDS) under the New Economic Development Policy (NEDP) in the state.
  • Lalmalsawma stated that state government gave high priority to entrepreneurship development and has allocated Rs two crore under the NEDP during the current fiscal.
3. Indian economy projected to grow by 7.7% in FY 2017: UNWESP report:
  • According to the United Nations World Economic Situation and Prospects (WESP) 2017 report, India’s economy is projected to grow by 7.7% in fiscal 2017 and 7.6% in 2018. 
  • India will remain the fastest growing large developing economy due to its strong private consumption and gradual introduction of significant domestic reforms. 
  • The UN flagship report has not mention of the withdrawal of the high-denomination Rs. 500 and Rs. 1,000 currency notes nor its impact on the country’s economic growth.
4. Union Cabinet approves amendment in Modified Special Incentive Package Scheme: 
  • The Union Cabinet has given its approval for amendment in the Modified Special Incentive Package Scheme (M-SIPS) for electronics manufacturing.
  • These modifications will further incentivize investments in electronic sector and move towards Union Government’s goal of ‘Net Zero imports’ in electronics by 2020.  
  • The applications will be received under M-SIPS scheme till December 2018 or till such time that an incentive commitment of Rs 10,000 crore is reached, whichever is earlier.
5. Three Days National Conference in Kutch:
  • Prime Minister Narendra Modi has delivered inaugural address on a three-day National Conference of Central and State Ministers and Secretaries of Tourism, Culture and Sports in Kutch, Gujarat .
  • He addresses the program through video conferencing and also interact with the participants at the end of the conference
  • The Conference aims at achieving the necessary convergence among tourism, culture, youth affairs and sports areas and synergy between the Centre and state. 
6. AYUSH, ASCI sign MoU to co-regulate advertisements in AYUSH sector:
  • Today, the ministry of AYUSH and Advertising Standards Council of India (ASCI) signed a MoU to co-regulate misleading advertisements in the AYUSH sector in New Delhi.
  • The MoU will ensure that any advertisement making false claims for diseases and disorders, in violation of the existing regulations is immediately brought to the attention of the Ministry.
  • Now, there is unbridled marketing of Ayush (Ayurvedic, Unani, Siddha, naturopathy and homeopathy) drugs across media platforms, including print and television channels.
7. Govt inks MoU with National Yuva Cooperative Society  to set up 1,000 Janaushadhi Kendras:
  • The government has signed an agreement with the National Yuva Cooperative Society to set up 1,000 Janaushadhi Kendras across the country and targets to open such medical stores in every block and gram panchayat to provide quality medicines at an affordable price.
  • At present, 750 Janaushadhi Kendras, providing more than 600 medicines and 150 medical devices, are operational and the target is to open 3,000 by end of this fiscal for achieving health safety, Chemicals and Fertilisers Minister Ananth Kumar stated.
8. India, UAE to hold 1st strategic dialogue in New Delhi:
  • Ahead of the visit of the UAE crown prince Sheikh Mohammed bin Zayed Al Nahyan , who will be the Chief Guest at the Republic Day function this year, India UAE is scheduled to hold their first strategic dialogue in New Delhi.
  • The two countries have been moving closer for security, counter-terrorism, intelligence sharing and trade and during this visit of the Crown Prince , India and UAE will also be looking to boost economic ties. 
  • Indians are the largest expatriate community in UAE comprising of nearly 20% of its migrant population.
9. Physicists create a new form of Hydrogen:
  • Physicists from Austria have created new form of Hydrogen i.e. negatively charged hydrogen clusters. 
  • It is a previously unseen form of hydrogen. For the past forty years, existence of hydrogen in ion clusters was known and is positively-charged clusters have already exists.
10. Alibaba becomes Worldwide Sponsor of Olympic Games through 2028:
  • The International Olympic Committee (IOC) and Alibaba Group (Chinese e-commerce firm) has entered into a long-term partnership through 2028 at the World Economic Forum in Davos (Switzerland).
  • This makes Alibaba the worldwide sponsor of Olympic Games through 2028.
  • Now,  Alibaba has become the first company in the world to make a long-term commitment to the IOC through 2028.
  • Alibaba is the first Chinese company to commit to the Olympic Winter Games Beijing 2022..
11. World Bank Sanctions Rs 1,376 Cr For Tripura Power Upgradation:
  • Washington based World Bank has sanctioned Rs 1,376 crore for upgradations and improvement of the Tripura power system network on  This was announced by Tripura’s power minister Manik Dey.
  • The Power Upgradation project is divided into 5 phases. SPML Infra Ltd has got the contract of the first phase with the budget of  Rs 461 crore .
  • A large number of 132 KV and 33 KV substations will be constructed and upgraded under the project across Tripura.
12. CCEA approves listing of five general insurance PSUs at the stock exchanges:
  • The Cabinet Committee on Economic Affairs (CCEA) has given its ‘in principle’ approval for listing the five Public Sector General Insurance Companies (2016-17) owned General Insurance Companies in the stock exchanges. 
  • They are New India Assurance Company Ltd, United India Insurance Company Ltd, Oriental Insurance Company Ltd, National Insurance Company Ltd and General Insurance Corporation of India.

13. Lloyd’s Gets Final Approval from IRDAI to Open First Branch in India:
  • London’s insurance giant Lloyd has received the final approval from the Insurance Regulatory and Development Authority (IRDA) on to set up its first branch in India.
  • The specialist insurance and reinsurance company would open its first branch office in India before April 2017 and will be located at Mumbai. 
  • Lloyd’s will bring expertise and specialist capacity to India’s insurance market and work in partnership with local insurance businesses to develop innovative solutions that meet the unique needs of the growing economy.
14. FIPB clears 6 FDI proposals worth Rs 1,187 crore:
  • The Inter-ministerial body Foreign Investment Promotion Board (FIPB) approved six investment proposals envisaging foreign investments of Rs 1,186.5 crore.  
  • Decision in this regard was taken by FIPB meeting headed by Economic Affairs Secretary Shaktikanta Das. 
  • It has approved the proposals of Sanofi Synthelabo India, Star Den Media Services, Idea Cellular Infrastructure Services, Boehringer Ingelheim India Pvt. Ltd, Menarini India Private Limited and Recipharm Participation B.V. Netherlands.
15. Punjab Royals bagged ProWrestling League Season 2 title:
  • Punjab Royals have bagged the Pro Wrestling League Season 2 title. 
  • In the summit clash in New Delhi, the Punjab team beat Haryana Hammers by 5-4.

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