Current Affairs Daily Digest – January 02 2018

Latest Current Affairs

  1. Salil Parekh Takes Charge As Infosys CEO

Salil Parekh took charge as managing director and chief executive of IT major Infosys. For Parekh, who has come on board for tenure of five years, top priorities would include bringing back focus on revenue growth and business strategy.

Headquarters Bengaluru
Founders Nandan Nilekani, N. R. Narayana Murthy
  1. CDC launches Ayana Renewable Power, appts PJ Nayak as Chairman

The UK’s development finance institution, CDC has formed a new company Ayana Renewable Power that will focus on operations in India and neighbouring South Asian countries.

The firm has also appointed PJ Nayak as the chairman and Shivanand Nimbargi as managing director and CEO of Ayana Renewable Power.

Ayana will develop hundreds of MWs of generational capacity targeting underserved Indian states and neighbouring countries in South Asia including Bangladesh, Nepal, Myanmar and Sri Lanka. Ayana is 100 per cent funded by CDC, and will be run by an independent board and management team

Commonwealth Development Corporation  CDC Group
CDC is a development finance institution owned by the UK government. The Department for International Development is responsible for CDC, with shareholder duties managed by the Shareholder Executive. It has an investment portfolio valued around £3.9 billion and since 2012 is focused on the emerging markets of South Asia and Africa.
Founded 1948
Headquarters London, United Kingdom
Chief Executive Officer Nick O’Donohoe
  1. Traditional folk art form festival ‘Utsavam 2018’ from Jan 6

‘Utsavam 2018’, conceived as an attempt to rejuvenate traditional folk art forms of Kerala, will be held across the state from January 6 to 12.

The festival, organised by the state tourism department, would be held in 28 venues in 14 districts with participation of more than 5000 artists.

The Ustavam will showcase various art forms, including Kolkali, Theyyam, Irulnritham, Ganabali, Paanaporatt and Kaakirinaatakam.

Capital Thiruvananthapuram
Chief Minister Pinarayi Vijayan
Governor P.Sathasivam
  1. Maneka Sanjay Gandhi to inaugurate online portal ‘NARI’ for women empowerment

The Minister of Women & Child Development, Maneka Sanjay Gandhi has inaugurated an online portal NARI in New Delhi. Users can log on to to access information on different programmes offered by various state governments as well as the Centre.

 Developed by the Ministry of Women & Child Development, the portal will provide women citizens with easy access to information on government schemes and initiatives for women.

Further to provide a platform for NGOs and Civil Societies to interact with the Ministry of Women & Child Development, e-Samvad portal has also been developed which will be inaugurated by the WCD Minister.

Minister of Women & Child Development Maneka Sanjay Gandhi
Minister of State for Women & Child Development Virendra Kumar
  1. Parliament passes Insolvency & Bankruptcy Code Amendment Bill

Finance Minister Arun Jaitley has entered into an unchartered territory as far as bankruptcy and insolvency Code is concerned and would continue to modify the law dealing with the issue.

Insolvency and bankruptcy is an area in which it is only in the recent years that we have chartered into. It is a learning experience.

The bill seeks to replace an ordinance which was promulgated in November to prevent unscrupulous persons from misusing or vitiating the provisions of the Insolvency and Bankruptcy Code (IBC).

  1. LS passes bill to build public projects in protected monuments

A bill to allow the government to take up infrastructure projects within prohibited areas around protected monuments was passed in the Lok Sabha.

Amendments have been proposed in the legislation to the 1958 Act that prohibits carrying out any public work or project or other constructions in any prohibited area around protected monuments.

A ‘prohibited area’ means land in the 100-metre radius around a protected monument. Currently, construction is not allowed in the prohibited areas except for repair and renovation works.

  1. India’s First ‘Floating market’ to Open in Kolkata in January

India’s first floating market is set to open for public in January 2018, in Kolkata. Chief Minister Mamata Banerjee will inaugurate the market, which has been designed along the lines of floating markets seen in Bangkok.

A water body in Patuli area was transformed into the floating market by the Kolkata Metropolitan Development Authority (KMDA) in collaboration with the municipal corporation. It will house over 200 shops.

West Bengal
Capital Kolkata
Chief Minister Mamta Banerji
Governor Keshari Nath Tripathi
  1. AP to launch ‘Janmabhoomi-Maa Vooru’

Andhra Pradesh Chief Minister N Chandrababu Naidu called on the people to take part in the ‘Janmabhoomi-Maa Vooru’ programme to be launched.

Janmabhoomi Maa Ooru is a great havan and everyone should take up this as a social responsibility. This initiative is a clarion call for all the public to come together, join hands and do all works.

Andra Pradesh
Capital Amaravati
Chief Minister Chandrababu Naidu
Governor E. S. L. Narasimhan
  1. Solar-based irrigation scheme to be implemented in Haryana

Haryana Chief Minister Manohar Lal Khattar has directed the irrigation department to implement the integrated solar-based micro irrigation scheme in all districts of the state.

He constituted a committee under the Chairmanship of Haryana Renewable Energy Development Agency (HAREDA) chairman to chalk out a strategy in this regard.

At present, such scheme is being implemented on pilot basis in commands of 14 different canal outlets spread over 13 districts of the state at a cost of Rs 24.65 crore.

Capital Chandigarh
Chief Minister Manohar Lal Khattar
Governor Kaptan Singh Solanki
  1. Cobblers in Haryana can get bank loan to set up kiosks

Cobblers in Haryana can now look forward to getting bank loans of up to Rs 15,000 for setting up kiosks in the state under a new scheme.

Under the the Differential Rate of Interest (DRI) Scheme, financial assistance at concessional rate of four per cent interest is provided by public and private sector banks to selected low-income groups for boosting their productive endeavours.

The government will also ensure back-up arrangement for repayment of bank loan through the Chief Minister’s Relief Fund in case of any eventuality.

  1. Defence Minister Nirmala Sitharaman Clears Two Procurement Proposals

Defence Minister Nirmala Sitharaman cleared two procurement proposals. The first proposal is related to procurement of 240 bombs, at a cost of Rs. 1254 cr. from M/s JSC Rosonboron Exports, Russia.

These bombs, which fall under the category of Precision Guided Munitions, are used by Indian Air Force (IAF). This procurement will address the deficiency of Precision Guided Munitions in the IAF arsenal, besides enhancing the offensive capabilities of the IAF.

The second proposal pertained to the procurement of 131 Barak Missiles and associated equipment, under option clause from M/s Rafeal Advance Defence Systems Ltd., Israel, at a cost of Rs. 460 cr.

These missiles are surface to air missiles designed to be used as a ship-borne anti-missile defence system against anti-ship missiles.

  1. Principal to acquire ownership of joint venture with PNB

The US-based Principal Financial Group has proposed to pick up PNB’s stake in Principal-PNB Asset Management Company and Principal Trustee Company in India.

PNB has signed a share purchase agreement to give Principal full ownership in the two entities pending regulatory approval.

PNB holds 21.38 per cent in Principal PNB Asset Management and 30 per cent in Principal Trustee.

Punjab National Bank
Headquarter New Delhi
CEO Sunil Mehta
Tagline The name you can bank upon
  1. Rs 10,000 cr NABARD assistance to Odisha till Q3

The National Bank for Agriculture and Rural Development (NABARD) has provided financial assistance of Rs 10,000 crore to Odisha by end of the third quarters of the current financial year.

Under refinance channel, the NABARD has so far extended Rs 4,861 crore to cooperative banks for production of crops by about 3 million farmers in the state.

Under Long Term Refinance scheme of the NABARD, banks in Odisha have availed credit support of Rs 624 crore, which have facilitated creation of private sector farm assets.

National Bank for Agriculture and Rural Development NABARD
Headquarters Mumbai
Chairman Harsh Kumar Bhanwala
  1. Poet Anwar Jalalpuri, who translated Gita into Urdu, dies

Famous poet Anwar Jalalpuri, who translated Bhagwat Gita and Gitanjali into Urdu, died in Lucknow on January 2 at the trauma centre of King George’s Medical University.

Some of his important literary works include Rahrau se Rahnuma Tak, translations of Gitanjali and Bhagwat Gita to Urdu, and he also wrote dialogues for TV serial Akbar the Great.