Current Affairs Update - 16th September 2017

Current Affairs Update - 16th September 2017

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Connaught Place world's 10th most expensive office location, Mumbai's Bandra Kurla Complex is at 16th rank while Nariman Point is at 30th position in the CBRE's latest report

• New Delhi's Connaught Place has slipped one position to become tenth most expensive office location in the world with an annual rent of $111 per sq ft, according to property consultant CBRE.
• Mumbai's Bandra Kurla Complex is at 16th rank while Nariman Point is at 30th position in the CBRE's latest report Global Prime Office Rent H1 2017.
• "Delhi's Connaught Place is the world's tenth most expensive office location with an annual prime rent of USD 111 per sq ft. The ranking has fallen by one position, moving down to tenth from ninth in March 2017," CBRE said in a statement.

Important Days

International Day of Democracy was celibrated every year on 15 September. 2017 Theme: Democracy and Conflict prevention

• This year's theme of democracy and conflict prevention focuses on the critical need to strengthen democratic institutions to promote peace and stability. A more integrated approach to foster resilient societies calls for effective and inclusive democratic governance with respect for human rights and the rule of law. 
• Resilient societies are able to mitigate disputes through mediation, dialogue and a reasonable degree of legitimacy of their institutions. Developing effective conflict prevention mechanisms and infrastructures provides a foundation to resolve grievances and sustain peace. Processes, such as peace agreements, elections and constitutional reforms, can help maintain equilibrium between competing interests and reduce fragility and the likelihood of organized violence.

Engineers Day was celibrated on 15th September on every year on the birth anniversary of M. Visvesvaraya 

• The Engineering Community across India celebrates Engineers Day on 15 September every year as a tribute to the greatest Indian Engineer Bharat Ratna Mokshagundam Visvesvaraya. "Role of Engineers in a devolping India" is the theme of Engineers Day 2017. 
• M. Visvesvaraya was also the Diwan of Mysore from 1912 to 1918. He was the chief engineer responsible for the construction of the Krishna Raja Sagara Dam in Mysore as well as as the chief designer of the flood protection system for the city of Hyderabad. 
• Due to his outstanding contribution to the society, Government of India conferred 'Bharat Ratna' on this legend in the year 1955." He was also awarded the British knighthood by King George V, and hence has the honorific "sir". His birthday, 15 September is celebrated as the Engineers day. He also designed and patented the automatic weir water floodgates, first installed at the Khadakwasla reservoir, Pune 1903. He transformed the Mysore state into what was then known as 'model state'. 

New Appointments: International

Former United Nations secretary general Ban Ki-moon has been elected chair of the International Olympic Committee's ethics commission.

• Former United Nations secretary general Ban Ki-moon has been elected chair of the International Olympic Committee’s ethics commission. The South Korean, who served as leader in the UN from 2007 through 2016, will take over for Youssoupha Ndiaye.
• In his acceptance speech today, Ban called his new task “a serious responsibility.” Among his immediate tasks will be a vote-buying scandal involving last year’s Olympics in Rio de Janeiro.

Banking/Economic Affairs

India’s forex reserves top $400 billion for first time ever 

• The country's forex reserves surged by USD 2.604 billion to reach an all-time high of USD 400.726 billion in the week ended September 8 on account of rise in foreign currency assets, RBI data showed today. 
• In the previous week, the reserves had increased by USD 3.572 billion to USD 398.122 billion. 
• The foreign currency assets (FCAs), a major component of the overall reserves, increased by USD 2.568 billion to USD 376.209 billion for the reporting week, according to data .. 

Rankings

HDFC Bank has topped the list of the country’s top 50 brands, followed by Airtel at 2, SBI at 3 and Reliance Jio at 11, according to WPP’s BrandZ Top 50 report

• India’s second largest private sector bank HDFC Bank topped the list of the country’s top 50 brands according to a report released by marketing and advertising conglomerate WPP Plc and Kantar Millward Brown.
• Banks and telcos dominate the listing, WPP’s BrandZ Top 50. Airtel is #2 and State Bank of India, #3.
• The highest ranked new entrant on the list is a telco too, Reliance Jio, at #11.
• WPP says demonetisation—the invalidation of old high value currency notes last year—and the subsequent slowdown in consumption hit packaged consumer goods brands.

National Affairs

Odisha passes bill for setting up first Odia language university

• The Odisha government on Thursday passed a bill for starting the first Odia language university for post-graduate in literature, linguistics and epigraphy, among others.
• Tabling the University of Odia Language and Literature Bill 2017 in the assembly, higher education minister Anant Das said the university would be established in Bhubaneswar. It would also administer PG courses in literary criticism, evolution of east Indian language scripts, historical scripts, archaeology, musicology and translation into and from Odia.
• The proposed university also aims at making Odia script more adaptable to computer technology.

Karnataka govt approves electric vehicle policy to reduce dependency on fossil fuels

• The Karnataka government on Wednesday approved ‘Electric Vehicle and Energy Storage Policy 2017’ to help the state become a hub for production of alternative fuel vehicles, reduce dependency on fossil fuels, bring down pollution levels and push the ‘Make In Karnataka’ initiative.
• The new policy aims to attract investments worth Rs31,000 crore and create around 55,000 employment opportunities.

President Ram Nath Kovind to launch Swachh Bharat Mission 3.0 in Kanpur on Friday 

• Prime Minister Narendra Modi’s birthday which falls on September 17 will be celebrated as Seva Diwas. People from across the country will be mobilised to participate in Clean India activities. Starting Friday, multiple spots in India will witness an “accelerated campaign” to move the mission of Clean India forward as the Centre has planned a series of activities under “Swachhta Hi Seva” campaign to celebrate the third anniversary of Swachh Bharat. 
• PM Modi is expected to make an appeal to the citizens to share their “Shramdhaan for Swachhta,” photographs on MyGov. in, this year. On Sunday, the DD channels will telecast Akshay Kumar’s Toilet Ek Prem Katha movie that stresses on the importance of toilets and sanitation. PM Modi had talked about the need to keep the momentum of Swachh Bharat alive in his last Mann Ki Baat. 

Indias first Centre for Animal Law has been established at the city-based NALSAR University of Law.

• Union Minister for Women and Child Development Maneka Gandhi inaugurated the centre today, according to a release issued by Humane Society International (HSI). Humane Society International, India will work with NALSAR University to steer and coordinate the activities of the centre, it said.
• HSI-India Managing Director N G Jayasimha, who has been appointed as the honorary director of the Centre said "today is a historic day for India. We hope that the Centre for Animal Law will be the first of many institutions dedicated to the study of animal issues in India and elsewhere."

International Affairs

New ten pound note: Jane Austen note released into UK circulation by Bank of England

• More than one million of the new plastic £10 banknotes celebrating author Jane Austen have entered circulation. 
• The new tenner is the first Bank of England note with a tactile feature to help blind and partially-sighted users.
• The tactile feature is a series of raised dots in the top left-hand corner of the banknote, developed with the help of the Royal National Institute of the Blind.
• Like the £5 note already in circulation featuring Sir Winston Churchill, the new £10 - featuring Pride And Prejudice author Austen - is made from polymer.

Schemes / Programme

Devendra Fadnavis launches 'Maharashtra Mission 1 Million' initiative under which over 10 lakh students across the state will play football.

• Fadnavis, for a brief while, kicked the ball around at the Bombay Gymkhana with the "dabbawalas" of the megapolis on the occasion in the presence of State Sports minister, Vinod Tawde.
• Students from various schools, including visually challenged ones, played football as small showers failed to dampen their spirit.

Agreements (MoU)

IndusInd Bank secures $200 million loan from ADB for microlending to serve low income women borrowers in rural areas. 

• The 7-year senior loan will go towards IndusIndBSE -1.51 % Bank's micro-finance activities, it said in a statement.
• The loan pact was inked here by Christine Engstrom, Director of ADB's Private Sector Operations Department, IndusInd Bank chief financial officer S Zaregaonkar and Arun Khurana, Head of IndusInd Bank s Global Markets Group.

Summit /Conference / Events / Host

The Indian Olympic Association (IOA) on Wednesday formally awarded to Goa the rights to host the 36th National Games, the coastal state's Sports Minister Manohar Ajgaonkar said.

• Ajgaonkar said that IOA Secretary General Rajeev Mehta, in a letter to Chief Minister Manohar Parrikar on Wednesday, had formally conferred the rights to the state to host the sporting event in November this year.
• "We will now take a giant step forward in accelerated speed to complete the infrastructure and other facilities to ensure that these Games in 2018 become historic and the best among all the games held so far. There is no looking back now," Ajgaonkar said in a statement.

Awards & Honours

Vijaya Bank bags Rajbhasha Kirti Puraskar for the Year 2016-2017.

• Vijaya Bank has bagged the first prize under the Rajbhasha Kirti Puraskar (Region C) for the year 2016-17. It got the award for active implementation of Hindi in its day-to-day activities.
• President Ram Nath Kovind gave away the award to the Managing Director and Chief Executive Officer, R. A. Sankara Narayanan, in the presence of Home Minister Rajnath Singh, Minister of state Kiren Rijiju, Minister of state Hansaraj Gangaram Ahir, and others.

The Marine Products Export Development Authority (MPEDA) has been awarded National level Rajbhasha Keerti Award for the third consecutive year.

• MPEDA Chairman A Jayathilak received the award from President Ram Nath Kovind on September 14 at Vigyan Bhawan, New Delhi, an official release said here today.
• This award has been given to The Marine Products Export Development Authority (Ministry of Commerce & Industry, Govt. of India), Kochi, for the best Implementation of Official language in the organisation, it said.
• The organization is committed to continuing the endeavor to achieve excellence in the future too, the release added.

Sports: Awards & Honours

Indian swimmers win 47 medals including eight golds, at the 9th Asian Age-group Aquatic Championship at Tashkent in Uzbekistan.

• Indian swimmers won 47 medals, including eight golds, at the 9th Asian Age-group Aquatic Championship. The tournament started on September 8 and concluded yesterday at Tashkent in Uzbekistan.
• “During the championship, India won 47 medals – eight gold, 15 silver and 24 bronze,” Kamlesh Nanavati, general secretary, the Swimming Federation of India (SFI, said in a statement here today.

Miscellaneous

Suzuki to set up India’s first Lithium Ion battery unit with Toshiba & Denso 

• SuzukiBSE 0.21 % Motor will invest more than Rs 1,150 crore along with Japanese partners Toshiba and DensoBSE 0.32 % to set up India's first lithium ion battery facility in Gujarat. 
• The announcement by the parent of the country's largest carmaker, Maruti SuzukiBSE 0.21 %, is a major boost to the government's ambitious vehicle electrification and Make in India initiatives. 
• Suzuki Motor chairman Osamu Suzuki on Thursday also promised to invest Rs 3,800 crore more to expand capacity at its car manufacturing unit at Hansalpur near Ahmedabad, which is also the location for the factory that will make rechargeable batteries for electric and hybrid vehicles. 

Dell Technologies announces one of the largest non government contracts to support GE's digital transformation

• Touted as one of the largest non-government contracts, Dell Technologies on Friday announced that tech major GE will use Dell Inc. infrastructure and end-user computing solutions to support GE's ongoing digital transformation efforts.
• Under the multi-year deal, Dell Inc. becomes the primary IT infrastructure supplier for GE.
• GE will now use Dell EMC servers, storage, backup and related professional services, aiming to enhance the reliability and efficiency of its IT infrastructure with automated and flash-optimised solutions.