Saturday, 11 March 2017

Current Affairs-GK Update: 11th March 2017

Current Affairs and GK Update 11th march 2017
1. Congress wins Punjab, falls one short of two-third majority:
  • The Congress party has registered a landslide victory in Punjab Assembly elections, winning 77 seats in the 117-member house. 
  • Congress has won 77 seats, SAD+BJP 18, AAP 20 & OTH 02.
  • Congress garnered over 38% of the total vote share. 
2. BJP wins UP, Akhilesh Yadav resigns as Uttar Pradesh CM:
  • Akhilesh Yadav has reportedly submitted his resignation as UP chief minister to governor Ram Naik.
  • BJP+AP has won 324 seats, SP 48, BSP 19, INC 07 & OTH 04.
3. Uttarakhand: BJP finishes with 57 seats, Congress gets 11:
  • The results of all the 70 seats in Uttarakhand have been declared.
  • BJP has won 57 seats, Congress 11 & Other 02. 
  • Mr Harish Rawat contested the poll from two constituencies, Hardwar Rural and Kiccha, but failed to win either.
4. Goa: Congress finishes with 20 seats, BJP gets 13:
  • The results of all the 40 seats in Goa have been declared.
  • Congress has won 20 seats, BJP 13, NCP 1, MGP 3, GFP 3 & Independent 3. 
  • Laxmikant Parsekar has submitted his resignation to Governor from position of Goa CM.
5. Congress to form govt with regional parties in Manipur:
  • Manipur PCC President T N Haokip said his party would form the next govt with the help of "like- minded secular and regional parties." 
  • The 60-member Manipur assembly is headed for a hung assembly.
  • Congress has won 27 seats, BJP 22, NPF 4 & OTH 02. 
6. President of India inaugurates the 12th CII-Exim bank conclave on India Africa Project Partnership:
  • President Pranab Mukherjee has inaugurated the two-day 12th CII-EXIM Bank Conclave on India-Africa Project Partnership in New Delhi.The first conclave has held in 2005.
  • It was organized by the Confederation of Indian Industry (CII) in partnership with the EXIM Bank of India with the support of the Ministry of External Affairs and the Ministry of Commerce & Industry, Government of India.
  • The Objective is to discuss cooperation in Trade, Regional Integration & Infrastructure Development, Finance & Consultancy, Mining & Minerals, Agriculture & Agro-Processing, Power & Alternative Energy, Healthcare, Small & Medium Enterprises, Human Capital Development and People-to-People Contacts. 
7. Government releases draft rules for wallet companies:
  • In a bid to make transactions through e-wallets safer and strengthen the grievance redressal mechanism for consumers, a government has released a set of guidelines for wallet firms.
  • The draft Information Technology (Security of Prepaid Payment Instruments) Rules 2017 which have been released for public consultation by the ministry of electronics and IT cover an entire spectrum such as protecting consumer information, especially financial data. 
  • The Rules mandate that each Prepaid Payment Instruments (PPI) company or wallet firm will have a privacy policy posted on its website.
  • It will also have to appoint a chief grievance officer, the contact details of whom will have to be prominently displayed on the website. The grievance officer will have to "act upon" any complaint within 36 hours and "close" it in a month's time. 
8. IIT-M solar inverter system wins 2017 IEEE Spectrum Technology Award:
  • Indian Institute of Technology (IIT)-Madras has won the 2017 IEEE Spectrum Technology in the Service of Society Award for its solar-direct current (DC) inverter system. 
  • The system was developed by Centre for Decentralised Power Systems at IIT-M using micro grid technology. 
  • The system converts in-home power distribution from 230V Analog Current (AC) to 48V DC to directly power appliances and devices.
9. Four States come together for elephant census:
  • For the first time in India, four states Odisha, West Bengal, Chhattisgarh and Jharkhand have decided to conduct a synchronised elephant census in May 2017. 
  • These four together have the maximum number of human-elephant conflict-prone regions in India. This decision was taken by senior Forest Department officials of the four States during a regional workshop. 
  • These states will conduct the census based on an identical set of rules using the direct and indirect counting methods.
10. RBI Restricts Cash Loan Against Gold by NBFC to Rs 25,000:
  • Non-Banking Finance Companies (NBFCs) cannot lend more than Rs 25,000 in cash against gold according to RBI.
  • The earlier provision for NBFC was that high-value loans against the gold of Rs 1 lakh and above must only be disbursed by cheque. RBI reduced the amount to Rs 25,000 from the earlier Rs 1 lakh in line with the provisions of the Income Tax Act.
  • The decision was taken in the backdrop of government’s focus on less cash economy and promoting digital payments.
11. Paytm to levy 2% fee on recharge via credit cards:
  • Digital wallet player Paytm will now levy a 2% fee for adding money to Paytm wallet using credit cards.
  • This is a result of multiple users using Paytm to get free credit by using credit cards to top up their digital wallets and transferring the money back to their bank accounts at zero transaction cost.
  • The digital payment wallet will, however, provide an equivalent amount of cashback for using credit card to add money to the wallet. The cost of adding money to the wallet through other modes such as net banking and debit cards remains non-chargeable.
12. IBM Researchers Creates World’s Smallest Magnet to Store Single Bit Data:
  • A team of researchers at IBM has created the world’s smallest magnet using a single atom which can store one bit of data on it.Currently, hard disk drives use about 100,000 atoms to store a single bit.
  • The IBM scientists used a scanning tunneling microscope (STM) to build and measure isolated single-atom bits using the holmium atoms.  Then, they used an electrical current to write and read binary data (1s and 0s) on the atom.
13. Ford Foundation appoints Pradeep Nair as regional director for India, Nepal, and Sri Lanka:
  • New York-based Ford Foundation has appointed Pradeep Nair as regional director for India, Nepal, and Sri Lanka.Nair will take charge at the end of March from David Hulse.
  • He will lead the global non-profit grant-making organization’s operations in New Delhi, serving the three countries.
14. Paddleboarder makes world-first Atlantic crossing:
  • A South African man Chris Bertish has become the first person to cross the Atlantic Ocean on a stand-up paddleboard after completing an epic 4,050-mile voyage alone at sea.
  • Chris Bertish pulled into Antigua, in the Leeward islands of the Caribbean after departing from Agadir, Morocco, 93 days ago. Bertish, 42, a big-wave surfer as well as a sailor, who won the renowned Mavericks surf contest in northern California in 2010.

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