Current Affairs Daily Digest – August 27′ 2017

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  1. Biju Patnaik Award for Scientific Excellence

Odisha Chief Minister Naveen Patnaik granted the Biju Patnaik Award for Scientific Excellence for the year 2016 to Prof Digambar Behera.

Digambar Behera is senior professor and Head, Department of Pulmonary Medicine, Postgraduate Institute of Medical Education and Research (PGIMER) in Chandigarh.

The award is given by Odisha Bigyan Academy (OBA). E-waste Disposal from Schools Kicks Starts in Kerala.

  1. Jammu and Kashmir Government to Set Up First Eco-Park

The Jammu and Kashmir government has decided to build an Eco-Park on over 34 acres of land reclaimed from encroachers in the state’s Rajouri district.

The park is a first-of-its-kind project in the region. It will have a botanical garden, a cactus garden, a cafeteria and other amenities.

The project has been planned under the convergence of local resources and it is expected to be completed by end of this year.

  1. Air Force Chief inaugurates 56th annual aerospace conference

Air Chief Marshal BS Dhanoa inaugurated the 56th annual three-day conference of Indian Society of Aerospace Medicine at the Institute of Aerospace Medicine in Bengaluru.

He highlighted the Institute’s role in “the progress made in Night Vision Goggle training” in his speech, calling it “an example of the support aerospace medicine has made to the evolving flying environment”.

  1. CA Institute Signs MoU with ICA Nepal

The CA Institute has signed a Memorandum of Understanding (MoU) with the Institute of Chartered Accountants of Nepal (ICAN).

Nilesh Vikamsey, President, Institute of Chartered Accountants of India (ICAI) and Prakash Jung Thapa, President–ICAN exchanged the MoU in the presence of Prime Minister Narendra Modi and Prime Minister of Nepal Sher Bahadur Deuba.

  1. Government notifies changes in Banking Regulation Act

The government has notified the Banking Regulation (Amendment) Act under which it can authorise the RBI to issue directions to banks to initiate insolvency resolution process to recover bad loans.

The banking sector is saddled with non-performing assets (NPAs) of over Rs 8 lakh crore, of which Rs 6 lakh crore is with public sector banks (PSBs).  Earlier this month, Parliament had approved the Act, which replaced an ordinance in this regard.

The government in May had promulgated an ordinance authorising the Reserve Bank of India (RBI) to issue directions to banks to initiate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016.

  1. RBI launches Rs 200 note; promises to ramp up supply

The Reserve Bank has launched the bright yellow Rs 200 notes and said it will shortly ramp up the supply of the new currency note across the country.

Long queues of people were witnessed at RBI offices to get the new Rs 200 currency note that has been introduced for the first time by the central bank.

As per the new policy on theme-based currency notes, the Rs 200 bill bears motif of Sanchi Stupa to depict India’s cultural heritage.

  1. HDFC Bank Launches All-in-one PoS Machine

HDFC Bank announced a software upgrade to create a single point-of-sale (PoS) machine which will accept payments through Unified Payments Interface (UPI), BharatQR, SMS Pay and the bank’s mobile wallet, in addition to the traditional mode of swiping cards.

The merchant has to do is to update his/her machine with a software at no cost. The new software will work only on HDFC Bank-issued PoS machines, but will accept any card or app from any bank/service provider.

  1. Banks to Pay 3% IGST on Gold Imports

Banks importing gold and precious metals will have to pay3 per cent tax under the GST which can be claimed as input tax credit.

Under GST 3% Integrated-GST is payable on all imports of precious metals in addition tothe basic customs duty.  IGST paid can be taken as input tax credit by the banks.

  1. 500-crore space weather radar to be built in Arctic

The most advanced space weather radar in the world is to be built in the Arctic by an international partnership including the UK, thanks to new investment, including in the region of £4 to £6m from NERC.

The EISCAT_3D radar will provide UK scientists with a cutting-edge tool to probe the upper atmosphere and near-Earth space, helping them understand the effects of space weather storms on technology, society and the environment.

  1. Coast Guard Training Ship Varuna Decommissioned

The Indian Coast Guard Ship Varuna, which was part of the First Training Squadron of the Navy, was decommissioned with full armed forces honours at a ceremony held at the south jetty of the Southern Naval Command.

The ship had an illustrious service spanning about 30 years. Inspector General K.R. Nautiyal, Commander of the Coast Guard Region (West), presided over the traditional ceremony.

  1. Donald Trump signs memo banning transgender recruits from US military

US President Donald Trump has signed a memo ordering the Pentagon to ban an Obama-era plan of recruiting transgender individuals in the military,

Trump directed the Secretary of Defense, Secretary of Homeland Security with respect to the US Coast Guard, to return to the longstanding practice on military service by transgender individuals that was in place prior to June 2016.

  1. Messi Becomes First Ever Player to Score 350 La Liga Goals

Barcelona forward Lionel Messi scored a second-half brace against Alaves, becoming the first ever player to score 350 goals in La Liga.

Messi’s best goal tally for a season came in 2011/12 when he netted 50 goals in 37 appearances.  Messi, who has played 384 league matches, is now 66 goals ahead of rival Cristiano Ronaldo.


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