Current Affairs Updates - 17 & 18 Dec 2017

Current Affairs Updates - 17 & 18 Dec 2017

Do You Know?

India’s first Tesla X, a high-end electric car with self-driving capability, was registered at the Tardeo Regional Transport Office (RTO) .

• Being an electric vehicle, it is exempted from RTO taxes and cess,” said a RTO source, adding that generally, a tax of Rs20 lakh is charged on imported vehicles that cost more than Rs1 crore.
• It is the 16th electric vehicle registered in Mumbai during the current financial year. Nine have been registered at Tardeo RTO, three each at Andheri RTO and Borivli RTO and one at Wadala RTO.

Important Days

Vijay Diwas is commemorated every 16 December in India.

• It marks its military victory over Pakistan in 1971 during the Indo-Pakistani War of 1971, in alliance with Bangladesh Mukti Bahini.

New Appointments: National

R Hemalatha takes charge as Director of National Institute of Nutrition

• Hemalatha, a medical graduate from Gandhi Medical College, Hyderabad, assumes office at a historic moment as the institute enters its centenary year.

Banking/Economic Affairs

The State Bank of India introduced a loyalty program for its valued customers gives the customers several opportunities to earn reward points.

• The State Bank of India introduced a loyalty program for its valued customers so one can become a member of the State Bank Rewards Loyalty Program and earn points every time one spend. 

FundsIndia partners with YES Bank to launch UPI on mobile for mutual fund payments. 

• According to a company’s statement, UPI offers the benefit of instant processing of payments and is currently the fastest way to complete mutual fund transactions, compared to Net Banking, NEFT and other payment methods. 

Rankings

According to a new report on income inequality across the world by the World Inequality Lab, Income inequality has reached historically high levels in India since the 1980s when economic and trade liberalisation began in the country, with the top ten percent of the population accounting for 56% of the national income in 2014.

• The report gives credence to the theory that the opening up of the economy has disproportionately benefited those at the top of the income pyramid.
• According to the report, an even stronger increase in the share of national income was experienced by the top 0.1% and the top 0.01%, whose shares grew fivefold and tenfold, respectively, from 2% and 0.5% to almost 10% and 5%, between 1983 and 2014.

National Affairs

Cabinet approves capital investment subsidy to industrial units located in North Eastern Region (including Sikkim) 

• The Cabinet Committee on Economic Affairs chaired by the Prime Minister Shri Narendra Modi has approved Capital Investment Subsidy amounting to Rs.264.67 crore to four industrial units located in North Eastern Region (NER) including Sikkim under Central Capital Investment Subsidy Scheme (CCISS), 2007 of North East Industrial Investment and Promotion Policy (NEIIPP), 2007. 

Cabinet approves Rs 2,600 cr package for leather sector to boost exports, generate employment and make the leather and footwear industry competitive globally.

• The Union Cabinet has approved a Rs 2,600 crore special package for the leather and footwear sector, which the government believes has the potential to generate 3.24 lakh jobs in three years.

Meghalaya became the first state in India to operationalise ‘The Meghalaya Community Participation and Public Services Social Audit Act, 2017’ that makes social audit of government programmes and schemes a part of government practice.

• Chief Minister Mukul Sangma launched ‘The Meghalaya Community Participation and Public Services Social Audit Act, 2017’, at a national convention in Shillong.
• The event was attended by more than 200 people from state departments, citizens from audited villages and eminent citizens associated with social audits.

The President of India, Shri Ram Nath Kovind, laid the foundation stone of the Nyaya Gram project of the High Court of Allahabad

• Speaking on the occasion, the President said freedom of the judiciary is a cornerstone of our democracy. India’s credibility is enhanced by a fearless and independent judiciary. 

Prime Minister Narendra Modi will formally dedicate the 60 MW Tuirial Hydro Electric Power Project (HEPP) in Mizoram to the nation.

• This is the biggest power project located in Mizoram and will feed the entire energy to be generated to home State. The State’s current power demand is 87 MW and this is being met by the mini power projects and Central sector projects.

The National Green Tribunal (NGT) imposed a complete ban on plastic items like carry bags, plates and cutlery in towns located on the banks of the River Ganga like Haridwar and Rishikesh

• The Green Tribunal also imposed 5,000 fine on those violating the order and said action will be taken against erring officials too.
• The NGT passed the direction after noting that despite its earlier order, plastic was being used in these areas causing pollution to the river.

International Affairs

Japan plans a record 46 billion dollar defense budget for the next fiscal year to strengthen its missile defense against the threat posed by North Korea

• It will mark the sixth straight year of increases in defense outlays, topping the 5.12 trillion yen budget for the current fiscal year, the business daily said.
• Much of the increase will go on protecting Japan against North Korea's nuclear weapons and missile development, the newspaper said.

FIFA suspended the head of the Brazilian football federation Marco Polo Del Nero for 90 days over a breach of its rules.

• FIFA ethics committee added that the decision bans Del Nero from any football-related activities during this period, starting immediately.

China plans to send up 10 more satellites from the southern island of Hainan over the next three years to monitor over the South China Sea

• According to state-run Xinhua, China will launch the satellites, including more sophisticated “hyperspectral” and “synthetic aperture radar” satellites, by 2021 to conduct round-the-clock remote-sensing over the busy waterway.

Youthquake' named 2017 word of the year by Oxford Dictionaries.

• Youthquake”, defined as “a significant cultural, political, or social change arising from the actions or influence of young people”, has been selected by Oxford Dictionaries as the 2017 word of the year.

The Beijing 2022 Organizing Committee (BOCOG) Unveiled the Official Emblems of the Olympic and Paralympic Winter Games BEIJING 2022 at a Ceremony at the NATIONAL AQUATICS CENTRE in the Chinese Capital.

• Designed by artist Lin Cunzhen, the emblems combine traditional and modern elements of Chinese culture, as well as features embodying the passion and vitality of winter sports.
• Entitled “Winter Dream”, the emblem of the Olympic Winter Games Beijing 2022 was jointly unveiled by Vice Premier Zhang Gaoli, IOC Vice President Yu Zaiqing, and Zhang Hong. 

Application / Portal 

PM will also launch the ‘MyDoNER’ app and will distribute cheques to start-up entrepreneurs in Aizawl.

• The Tuirial HEPP and the app has been constructed as a Central Sector Project and implemented by North Eastern Electric Power Corporation (NEEPCO), under the administrative control of the Ministry of Power.

Schemes / Programme

Jammu and Kashmir Bank on Thursday launched a “J&K Sahafat Finance Scheme” for journalists, editors, employees of newspapers, and media houses. 

• The scheme which will give a maximum amount of Rs three lakh would help journalists to buy equipments without any delay and additional charges.
• J&K Chairman and CEO Parvez Ahmed, during a launch event at its headquarters, said that the scheme was conceptualised after keeping the requirements of journalists in mind who have been at the forefront for maximising the efforts of the banks, an official handout read.

Agreements (MoU)

Indian and Columbia are set to join hands in the field of agriculture and fisheries with an aim to boost the economy and mutual co-operation of both the countries.

• The Union Cabinet chaired by Prime Minister Narendra Modi approved the signing of a Memorandum of Understanding (MoU) between India and Colombia in the field of agriculture and fisheries. 
• The MoU provides for cooperation in the following fields of agriculture and Fisheries.

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the establishment of International Training Centre for Operational Oceanography, as a Category-2 Centre (C2C) of UNESCO, in Hyderabad. 

• The purpose of this Agreement is to establish a training centre towards development of capacity for the countries on the Indian Ocean Rim (IOR), African countries bordering the Indian and Atlantic Oceans, small island countries under the framework of UNESCO. 

Summit /Conference / Events / Host

Second edition of 'Serendipity Arts Festival Goa 2017 'commences in Goa.

• The festival features a plethora of effects like multiple venues, magnificent stage sets, architecturally built to transform Panjim for audience delight, and seamless surface transport connectivity.

National Workshop on Role of Sakhi One Stop Centres (OSCs) in Strengthening Multi Sectoral Response to Violence was held in New Delhi by the Union Ministry of Women and Child Development (WCD)

• Around 400 Sakhi- One Stop Centre Functionaries and nodal officials from State Department of Women and Child Development from 33 States/UTs across the country had participated in workshop. 
• It provided common platform to understand, discuss and deliberate on strengthening multisector response to address violence against women through Sakhi One Stop Centres across country. 

Vice-President Venkaiah Naidu will inaugurate a world conference on the Vedas at the Indira Gandhi National Centre for Arts (IGNCA) here on December 15.

• The three-day 'Vishwa Ved Sammelan' will have in-depth discussions on de-mystifying various myths and fallacies surrounding the Vedas and Manu Smriti, he said.