Current Affairs Update 12 July 2017

DAILY CURRENT AFFAIRS : 12 JULY 2017

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Mr. Khaltmaa Battulga set to Mongolia’s New President.

• Khaltmaa Battulga of the opposition Democratic Party, a businessman and former judoka, is poised to win the Mongolian presidential election with more than 50 percent votes, according to the preliminary results.
• Miyegombyn Enkhbold, candidate of the ruling Mongolian People's Party (MPP), acknowledged defeat in the second round of the country's presidential election.

MoHUA is the new name for urban development & housing ministry.

• Ministers of Housing and Urban Affairs(MOHUA)is the new ministry created after merger of Urban Development and Housing and Urban Poverty Alleviation Ministries.This is the third time the ministries have been merged.
• Mr.Venkaiah Naidu heads the ministries of Urban Development and Housing and Urban Poverty Alleviation.

Global Food Fair in November to enhance Food Sector.

• Indian Food Processing Minister Harsimrat Kaur Badal announced the organization of a global food fair in the month of November in India in a bid to support locally grown produce. World Food India 2017, scheduled to be a three day affair from November 3-5 2017, will be jointly conducted by the Food Processing Ministry and Confederation of Indian Industries.
• This affair will open up opportunities for Indian farmers and manufacturers to not only display their products but also help them explore foreign partnerships.

Union Government has launched next gold bond tranche on July 10.

• The government on Thursday  launched the next tranche of sovereign gold bonds on July 10 — the second time in this fiscal — offering a 2.5 per cent annual interest to investors. 
• The latest issuance of bonds is part of the government’s efforts to garner as much as Rs 5,000 crore from all the three gold schemes this fiscal. 
• The sovereign gold bond, gold monetisation scheme and Indian gold coin were launched by Prime Minister Narendra Modi in late 2015, as the government wanted to discourage imports of the precious metal and curb their debilitating impact on trade balance.

The Reserve bank of India amends order on bankruptcy action on 12 large non performing assets.

• The Reserve Bank of India (RBI) has amended its earlier order asking banks to initiate bankruptcy proceedings against 12 companies which have outstanding loans amounting to over Rs 5,000 crore as on March 2016.
• The amendment, made through a notification late on Saturday, comes after the Gujarat High Court asked the RBI to remove the stipulation on its order last month that the 12 non-performing assets (NPAs), or bad loans, would be granted priority at the National Company Law Tribunal.

The Income Tax department has launched ‘Aaykar Setu’for taxpayers.

• The Income Tax Department has introduced a mobile app, named 'Aaykar Setu' which aims to facilitate taxpayers with solutions to a range of tax-related issues. 
• The app which was formally launched by Finance Minister Arun Jaitley on Monday, will also let people link their PAN with the 12-digit unique identification number, Aadhaar.

Saint Mother Teresa’s blue bordered saree has been declared as an intellectual property.

• The famous blue-bordered sari of Mother Teresa, who has been canonised as Saint Teresa of Calcutta by the Vatican, has been recognised as an Intellectual Property of the Missionaries of Charity.

The Union Ministry of Health signs MoU with Government of West Bengal to set up Centre of Excellence in Transfusion Medicine.

• Ministry of Health and Family Welfare signed a memorandum of understanding(MoU) with Government of West Bengal to formalize its support to set up a state-of-the-art Centre of Excellence in Transfusion Medicine at Kolkata.
• Government of India has approved this important initiative with an outlay of approximately Rs.200 Crores towards equipment, manpower and running costs. The land for this initiative will be provided free of cost by the State government.

Rio Olympics silver medalist Sindhu bags ‘Sportsperson of the Year’ award.

• Rio Olympics silver medallist P V Sindhu was bestowed with the Sportsperson of the Year award during the ‘Maruti Suzuki Sportsperson of the Year’ Charity Gala Awards on Thursday night.
• Sindhu’s coach P Gopichand received the Coach of the Year award while the Flying Sikh Milkha Singh was given the Living Legend of the Year award. However, Milkha could not attend the function.

Leslie Thng is going to be the CEO of Vistara airlines.

• Leslie Thng will succeed Phee Teik Yeoh as its chief executive officer from October, subject to government approval.
• Phee Teik Yeoh, currently the CEO of Vistara, will be returning to Singapore Airlines (SIA) to take up a senior appointment. Vistara is a JV of Tata Group and SIA.