Current Affairs Update - 19th July 2017

Current Affairs Update - 19th July 2017

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Banking/Economic Affairs

SBI launches realty website to facilitate home buyers 

• Country’s largest lender State Bank of India has taken yet another step to boost its home loans, billed as a safe bet for lenders that are battling billions of corporate bad loans. 
• The bank has launched ‘SBI Realty’ www.sbirealty.in – a one stop integrated website for home buyers, who now mostly seek operational ease over anything else. The lender is expected to expand its home loan credit through such move. 
• “This new proposition will help customers in identifying their dream house in reliable projects with higher credibility and goodwill in the market,” Rajnish Kumar, Managing Director – NBG, SBI. 

HDFC Bank launches digital-only marketing campaign 

• HDFC BankBSE 0.50 % on Tuesday launched a national digital-only marketing campaign, reinforcing its position as 'India's No. 1 Bank' in products like credit cards, personal loans and auto loans. 
• Created by Leo Burnett, the campaign aims to connect with customers by asking them to #StartDoing and talk to India's No 1 Bank, to fulfil all their needs. 
• The campaign involves a series of creatives including films that will be showcased across all major digital video platforms like Youtube, Facebook, Hotstar, etc. and also through display ads across digital channels. 
• Further, HDFC Bank's wide network of branches and ATMs will also be utilised to talk to the audience. 
• Through this campaign, HDFC Bank is aiming to leverage a key customer insight, which is that most customers turn to savvy spenders for advice while purchasing cars, durables, etc. and also while taking financial decisions. 

Reliance Industries market capitalisation hits Rs 5 lakh cr mark; second firm after TCS to reach milestone

• Reliance Industries (RIL) on Monday attained a market valuation of more than Rs 5 lakh crore, becoming the second Indian company after Tata Consultancy Services (TCS) to achieve this milestone. The market cap of TCS on Monday was Rs 4.72 lakh crore

India's Rank

India stands 4th among fastest growing economies: World Bank

• According to World Bank's latest edition of Global Economic Prospects, India has ranked fourth among world's fastest growing economies. 
• India is expected to grow at 7.2% in the current fiscal and domestic demand is expected to remain strong, supported by policy reforms, reports added. India has been placed behind smaller economies of Estonia, Uzbekistan, and Nepal in growth rate.

National Affairs

PM Modi to inaugurate APJ Abdul Kalam memorial on July 27 in Rameswaram

• Prime Minister Narendra Modi will inaugurate a memorial of former president A P J Abdul Kalam at the latter's birthplace in Rameswaram on July 27, the BJP's state unit said on Monday
• The prime minister will be visiting Rameswaram on next Thursday to inaugurate the memorial of Abdul Kalam, BJP state president Tamilisai Soundararajan said in a statement.
• The party's state unit is making all arrangements for the visit, she said.
• Kalam, a career scientist turned statesman, was the 11th president from 2002 to 2007. He passed away on July 27, 2015.

Govt launches low-cost screening device to detect congenital hearing loss in newborns

• The ministry of science and technology launched a low-cost indigenous screening device on Monday to detect congenital hearing loss in newborns.
• The technology developed by the School of International Biodesign (SIB) start-up Sohum Innovation Labs India Pvt. Ltd. has until now been prohibitively expensive and inaccessible to many.
• The portable Sohum hearing screening device measures auditory brain waves via three electrodes placed on the baby’s head. When stimulated, they detect electrical responses generated by the brain’s auditory system. If there is no response, the child cannot hear.

International Affairs

Scientists create a 3D-printed, full-sized human heart

• Scientists have developed a 3D-printed soft silicone heart that closely resembles and functions like the human organ, and could help save lives of people who suffer from cardiac failure. The well-functioning artificial heart is a real necessity, researchers said.
• Scientists have developed a 3D-printed soft silicone heart that closely resembles and functions like the human organ, and could help save lives of people who suffer from cardiac failure. The well-functioning artificial heart is a real necessity, researchers said.
• About 26 million people worldwide suffer from heart failure while there is a shortage of donor hearts. Artificial blood pumps help to bridge the waiting time until a patient receives a donor heart or their own heart recovers. The soft artificial heart weighs 390 grammes and has a volume of 679 cubic centimetres.
• “It is a silicone monoblock with complex inner structure,” said Nicholas Cohrs, a doctoral student ETH Zurich in Switzerland.
• The artificial heart has a right and a left ventricle, just like a real human heart, though they are not separated by a septum but by an additional chamber. This chamber is inflated and deflated by pressurised air and is required to pump fluid from the blood chambers, thus replacing the muscle contraction of the human heart. Researchers showed that the soft artificial heart fundamentally works and moves in a similar way to a human heart.

Schemes / Programme

Delhi govt launches 'merit cum means' scholarship scheme

• The Delhi government on Tuesday announced a 'merit cum means' scholarship for students from low and middle-income groups studying in state universities. 
• The scheme has three categories based on the students' family income and will provide fee waivers up to 100%. However, students will need a minimum of 60% in the class they passed to qualify for the scheme.

Agreements (MoU)

Bharat Electronics Limited (BEL), a Navratna Company Signed MoU with Department of Defence Production

• Bharat Electronics Limited (BEL), a Navratna Schedule 'A' Central Public Sector Enterprise (CPSE) under the Department of Defence Production, Ministry of Defence signed a Memorandum of Understanding (MoU) for the financial year 2017-18 with the Ministry. The annual MoU was signed between Secretary (Defence Production) Shri Ashok Kumar Gupta on behalf of the Ministry of Defence and Chairman and Managing Director, BEL Shri MV Gowtama.
• The revenue from operations has been targeted at Rs. 9000 crore. The Operating Profit to Revenue from Operations target has been set at 14 percent and PAT to Average Networth has been set at 15 percent.
• Turnover from exports and increase in indigenous content are given additional focus during the year, along with other parameters like CAPEX investment and Monitoring of CAPEX projects, Reduction in Trade Receivables, and HR related parameters.

The Competition Commission of India (CCI) approves Softbank’s 20% stake buy in One97 Communications

• The Competition Commission of India has given its nod to Softbank Group Corp's acquisition of 20% stake in One97 Communications, the parent of digital payments leader Paytm. 
• The approval comes two months after the Noida-headquartered company raised Rs 9,000 crores ($1.4 billion) from SoftBank, making it the biggest investment by the Japanese internet and telecom conglomerate's in the Indian internet ecosystem. 
• With this, SoftBank has crossed another regulatory hurdle and will own about one fifth of the company estimated at about $7 billion - the second most valued startup in India after Flipkart. 
• ET had reported in May citing sources, that Softbank was expected to buy shares in a secondary transaction for about $400 million to gain the full 20% equity stake in One97. The secondary shares were to be purchased from Paytm's early investor SAIF Partners besides founder Vijay Shekhar Sharma .. 

Summit /Conference / Events / Host

ICC to host global biz forum in tie-up with Bengal govt, Kolkata will host the business meet in November.

• The Indian Chamber of Commerce (ICC) in association with the West Bengal government is set to host a global business forum – Horasis Asia Meeting -- in the city in November this year.
• The two-day business forum starting November 26 will focus on sustainable business practices in various areas including power and energy, said Shashwat Goenka, President, ICC.
• Goenka, who is the sector head at Spencer’s Retail, part of the RP Sanjiv Goenka Group, was recently elected the President of the industry body.
• The forum will witness the presence of over 500 international participants from over 65 countries. It will provide a platform for companies from emerging and developed markets to globalise their organisations.

Sports/Awards & Honours

Manudev wins National Masters snooker title

• Karnataka's Manudev got the better of fancied Alok Kumar of PSPB by four frames to one in the final today to win the title in the first National Masters snooker tournament on Sunday.
• Kumar, a former national men's champion, had been in fine form coming into the summit clash, but found Manudev a tough proposition.
• Manudev, who played fearless snooker in the final, capitalised on the chances he got and kept scoring heavily. He dominated the first two frames and seized control.
• In the third frame, Manudev stole Kumar's frame with an extraordinary clearance with one red on the table to lead by 3-0 which made all the difference in the match.
• Kumar went all guns blazing in the fourth frame and clinched it with impressive potting.
• Manudev however kept his cool and capitalised on Kumar's mistakes to seal the match.

Miscellaneous

New bird-like species of dinosaur identified by Candian Scientists

• Canadian scientists have identified a new bird-like species of dinosaur that lived nearly 71 million years ago and was about the size of a person. The species Albertavenator curriei, has been named in honour of famous Canadian palaeontologist Philip J. Currie and was found in Alberta.

Smriti Irani Gets Additional Charge Of Information And Broadcasting Ministry After Venkaiah Naidu Resigns

• Smriti Irani, Minister for Textiles, will hold additional charge of the important Information and Broadcasting Ministry, the government has announced today.
• Senior BJP leader M Venkaiah Naidu resigned as Information and Broadcasting Minister last evening after he was named as the government's nominee for Vice President of India.
• Mr Naidu also resigned as Urban Development Minister and that ministry will now be led by Narendra Singh Tomar as an additional charge. Mr Tomar is the Minister for Mines.  
• The Prime Minister's Office, in a tweet, informed about the decision of the government.

Source: The Hindu｜The Hindu Business Line｜TOI｜Inshorts｜New Indian Express｜Economics Time｜Live Mint｜India Today｜Hindustan Times｜Indian Express｜PIB｜Business Standard｜DNA India｜Others National / International News Portal Only.