Current Affairs Daily Digest – August 02′ 2017

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  1. BSE appoints Swarup as new Chairman

Leading stock exchange Bombay Stock Exchange (BSE) said markets regulator Securities and Exchange Board of India (SEBI) has approved the appointment of Dhirendra Swarup as the bourse’s new chairman.

Swarup, who was a public interest director at the BSE, replaces incumbent Sudhakar Rao.

Swarup, former Chairman of the Pension Funds Regulatory and Development Authority (PFRDA), has more than four decades of experience across finance, budgeting, public debt management, public policy and pension reforms.

  1. Mukesh ambani Asia’s second richest with $34.8 bn

Mukesh Ambani is Asia’s second-richest man second-richest man and the chairman of Reliance Industries Limited(RIL) added $12.1 billion to his wealth in 2017.

Jio Network took just nine months after launching with a free introductory offer to rope in 117.3 million users and become India’s fourth-largest operator, according to Government data.

Reliance Industries Limited (RIL) was established in 1966 in Maharashtra.

  1. Government Forms Panel To Suggest Data Protection Framework

The government has constituted a 10-member committee to recommend a framework for securing personal data in the increasingly digitised economy as also address privacy concerns and build safeguards against data breaches.

The formation of the panel comes amid concerns over personal information being compromised with increasing use of biometric identifier Aadhaar in an array of services – from filing tax returns to availing government doles.

  1. Govt launches e-RaKAM portal for selling agri produce

The government has launched a portal, e-RaKAM, to provide a platform to sell agricultural produce.

The portal is a joint initiative by state-run-auctioneer MSTC and Central Warehousing Corporation arm CRWC.

Launching the portal with Steel Minister Chaudhary Birender Singh, Consumer Affairs, Food & Public Distribution Minister Ram Vilas Paswan said the effort should be to auction 20 lakh tonnes of pulses in the first phase through the platform.

  1. Establishment of Research Institute in Yoga and Naturopathy in Karnataka and Haryana

An autonomous Research Council, namely, Central Council for Research in Yoga and Naturopathy (CCRYN) is working under the Ministry of AYUSH as the apex body for Research and Education in the field of Yoga and Naturopathy.

The CCRYN has set up a Central Research Institute at Rohini, Delhi. Further, the Governing Body of CCRYN has decided to establish five more Research Institutes in the country.

The Government has approved establishment of Post Graduate Institutes for Research in Yoga and Naturopathy at Nagmangla (Karnataka) and Jhajjar (Haryana) at a total cost of 59.67 crore and 52.04 crore respectively.

  1. Justice Krishna to head expert group on Data Protection Framework for India

Recognising the importance of data protection and keeping personal data of citizens secure and protected, Ministry of Electronics and Information Technology (MeitY), Government of India has, on 31st July 2017, constituted a Committee of Experts under the Chairmanship of Justice B N Srikrishna.

The committee will also suggest a draft Data Protection Bill. Protection of Data is expected to provide big boost to Digital economy of the country.

  1. Jharkhand cabinet clears Anti-conversion bill

The Raghubar Das Cabinet in BJP-led Jharkhand ohas approved the draft anti-conversion Bill that forbids religious conversion through allurement or coercion and has penal provisions.

According to an official release, Section three of the Bill prohibits forceful conversion. In the event of violation of section three, there will be up to three years imprisonment or Rs 50000 penalty or both.

The release says that if the crime involves a minor, woman or person from SC or ST community than the prison term would be up to four years and a penalty of one lakh rupees.

  1. RBI becomes 1st central bank in Asia to cut rates this year

The Reserve Bank of India cut its main policy rate by a quarter percentage point to a more than 6-1/2 year low, saying a slump in inflation opened room for monetary easing, while pinning further action on upcoming economic data.

The rate cut is the RBI’s first easing move since one of the same size in October and the first by a central bank in Asia since December – a show of confidence in a country that has experienced a surge in foreign investments into debt and shares this year.

  1. RBI slaps 3-cr penalty on Union bank for non-compliance with KYC norms

The Reserve Bank of India has imposed a monetary penalty aggregating ₹3 crore on Union Bank of India for non-compliance with the regulatory direction on ‘know-your-customer’ (KYC) norms.

KYC is a process by which banks obtain information about the identity and address of customers.This process helps to ensure that banks’ services are not misused.

The KYC procedure is to be completed by the banks while opening accounts. Banks are also required to periodically update their customers’ KYC details.

  1. Flipkart completes eBay India merger

E-commerce major Flipkart has completed the merger with eBay India’s operations.  With this, will now be a Flipkart Group company.

The deal was announced in April when the Flipkart group raised $1.4 billion from global technology majors eBay, Tencent and Microsoft.

In exchange of an equity stake in Flipkart, eBay had made a cash investment of $500 million and sold its business to Flipkart.

  1. Airtel Payments Bank ties up with HPCL for ATM services

Airtel Payments Bank, which has achieved 10 million customer bases since launch, has tied up with Hindustan Petroleum Corporation Limited for enabling all its petrol stations that are typically cash surplus to be used as ATM points for customers of the bank.

In order to grow scale and reach a larger customer base which may be unbanked, CEO Shashi Arora tells Gulveen Aulakh that the government should do away with the requirement of filling Form 60 for users who have annual income less than Rs 2 lakh.

  1. Indian Air Force felicitates India women’s cricketer Shikha Pandey

Flight Lt Shikha Pandey, a member of the Indian women’s cricket team, was felicitated by Indian Air Force chief BS Dhanoa for her sterling performance at the recent World Cup.

Pandey was awarded the chief of the air staff commendation by Air Chief Marshal Dhanoa for her performance at the recently concluded ICC Women’s World Cup.

  1. India and Somalia sign agreement on transfer of sentenced persons

India and Somalia have signed a bilateral agreement for the transfer of sentenced persons, thus deepening humanitarian cooperation between the two countries.

The agreement was signed between External Affairs Minister Sushma Swaraj and Foreign Minister of the Federal Republic of Somalia Yusuf Garaad Omar.

Diplomatic contacts between India and Somalia participated in the 2015 India-Africa Forum Summit in New Delhi.

  1. China opens first overseas base in Djibouti

China has formally opened its first overseas military base in Djibouti with a flag raising ceremony and military parade.

Five Chinese formations and Djibouti’s Three Services Honor Guard took part in the launch ceremony on 1 of August 2017.

The event marked the 90th anniversary ofthe Chinese military Services.

Djibouti is a tiny East African nation of around 887,000 people, is between Ethiopia, Eritrea, and Somalia.

  1. US Senate confirms christopher wray as new FBI director

The US senate on 1 August 2017 confirmed the appointment of Christopher Wray as the Director of Federal Bureau of Investigation (FBI).

Wray was elected to the post by winning 92-5 votes of the Senate.With this, Wray succeeds James Comey, whowas unexpectedly fired by US President Donald Trump in May 2017 in the midst of the investigation into Russian meddling in US Presidential Elections 2016.

Since then, Andrew McCabe has been serving as acting FBI director.

  1. Sam Shepard, Actor and Pulitzer-Winning Playwright, Is Dead at 73

Sam Shepard, the Pulitzer Prize-winning playwright and Oscar-nominated actor, died  in Kentucky. He was 73.

Shepard authored more than 40 plays, winning the Pulitzer Prize for drama in 1979 for his play “Buried Child,” which explored the breakdown of the traditional American family. The Broadway production of the drama was nominated for five Tony Awards in 1996.



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