Dear Friends,
Welcome to the Quick Gyan (QG) Section of D2G. QG is just a glimpse of what happened today all over the world.
Only For Serious Candidates : We strongly recommend you to read the Current Affairs in detail. For your convenience, we have provided quick links under the updates. Make use of it.
Always Keep Yourself Updated!!!
1. GOI clears purchase of Russia’s S-400 Triumf missile systems
The government of India has approved the Rs 39,000-crore acquisition of five advanced Russian S-400 Triumf air defence missile systems, which have even rattled NATO countries because they can destroy incoming hostile aircraft, stealth fighters, missiles and drones at ranges of up to 400 km.
The decision by the Manohar Parrikar-led defence acquisitions council (DAC), which will take some time to materialize into an actual deal after commercial negotiations, comes just ahead of PM Narendra Modi’s summit with Russian President Vladimir Putin in Moscow on December 24.
Quick Link – Triumf Missile Systems
2. NSE launches three new group indices
The National Stock Exchange (NSE) has launched separate indices on three corporate houses of India – Tata, Aditya Birla and Mahindra Group. The indices – Nifty Tata Group Index, Nifty Aditya Birla Group Index and Nifty Mahindra Group Index – have been designed to reflect the performance of companies belonging to the respective corporate group, as per a statement issued by the NSE. Each of the indices will comprise all the companies of the respective business group.
Quick Link – NSE
3. UNSC unanimously adopt resolution to cut-off supply of funds to IS group
The UNSC has unanimously adopted a resolution aimed at disrupting revenues that Islamic State receives from oil and antiquities sales, ransom payments and other criminal activities. ISIS, also known as ISIL and Daesh, is already subject to UN sanctions under resolutions dealing with al-Qaida. The resolution, sponsored by the US and Russia, elevates ISIS to the same level as al-Qaida, reflecting its growing threat and split from the terror network behind the 9/11 attacks.
Quick Link – UNSC
4. Reva Khetrapal takes oath as Delhi’s Lokayukta
Former Delhi high court judge justice Reva Khetrapal took oath as the new Lokayukta of Delhi. Lt. governor Najeeb Jung administered the oath at a function where Delhi chief minister Arvind Kejriwal was also present. Khetarpal will serve a five-year term. The post was vacant since November 2013, when retired Justice Manmohan Sarin relinquished office. The Aam Aadmi Party (AAP) government was criticised over the delay in the appointment of Lokayukta by the opposition Bharatiya Janata Party (BJP) and the Congress.
Quick Link – Lokayukta
5. Lok Sabha passes Arbitration and Conciliation (Amendment) Bill, 2015
The Lok Sabha has passed the Arbitration and Conciliation (Amendment) Bill, 2015, aimed at making dispute resolution in the country quicker and easier. The objective of the bill is to make the arbitration process friendlier and cost effective for investors, ensuring speedy disposal of cases. This will make India a hub for international commercial arbitration, a government statement said.
The cabinet had approved the amendment to the Arbitration and Conciliation Act, 1996, in August.
Quick Link – Amendment Bill
6. December 18 – International Day of Migrants
International Day of Migrants is observed on December 18 every year. The day is observed to call the international community to come together and remember the refugees and migrants who have lost their lives or have disappeared while trying to reach safe harbour after arduous journeys across seas and deserts. Throughout human history, migration has been a courageous expression of the individual’s will to overcome adversity and to live a better life.
In a message posted on the United Nations website, UN Secretary-General Ban Ki-moon said: “2015 will be remembered as a year of human suffering and migrant tragedies.” He added that in total, more than 5,000 women, men and children had lost their lives this year “in search of protection and a better life”.
Quick Link – International Day of Migrants
7. CII Industrial Innovation Awards 2015 conferred upon 35 companies
The Confederation of Indian Industry (CII) has conferred Industrial Innovation Awards 2015 upon 35 companies. Among them 10 were start-ups and 25 were big and small companies. Delhi-based start-up Right Track Admizzionz Campuz won the top award in the start-up category, while the pharma major Zydus Cadila was adjudged the Most Innovative Company of the Year.
The awards were instituted by CII in 2014 to recognize and celebrate innovative Indian enterprises across industry segments. These premier awards seek to recognize and honor the Indian Industry’s brightest stars and to identify the top Innovative Organizations in the country.
Quick Link – Industrial Innovation Awards
8. Tata Starbucks appointed Sumi Ghosh as Chief Executive Officer
Tata Starbucks has announced the appointment of Sumi Ghosh as CEO with effect from January 1. Avani Davda, CEO of Tata Starbucks Pvt Ltd, has made the personal decision to pursue other opportunities and accordingly resigned from her current assignment as Chief Executive Officer of Tata Starbucks Pvt Ltd. The company said Davda has been instrumental in establishing the Tata Starbucks business and positioning Starbucks as the premier coffee house experience in India.
Tata Starbucks Pvt Ltd, a 50:50 joint venture between Starbucks Coffee company and Tata Global Beverages, operates over 70 Starbucks stores in India. Starbucks entered the Indian market in October, 2012.
Quick Link – Tata Starbucks
9. Veteran Communist leader Noorul Huda passed away
Veteran CPI (M) leader of eastern India Noorul Huda has passed away due to heart attack at the age of 86. Huda – a Muslim Meitei Manipuri – was a member of the Central Committee [CC] of the CPI (M) for nearly three decades. A polyglot, Huda, knew at least a dozen languages and some of his speeches on political turmoil in India were acerbic enough for the Prime Minister Indira Gandhi who once asked him why he used “rustic terminologies.”
Quick Link – Noorul Huda
10. Govt lowers growth projection to 7-7.5 per cent for 2015-16
The GOI has lowered its economic growth forecast for 2015-16 to 7-7.5 per cent from 8.1-8.5 per cent. In its Mid-Year Economic Analysis presented in Parliament, the finance ministry said it will be able to stick to fiscal deficit target of 3.9 per cent for the current year, but the target of bringing it down to 3.5 per cent in the next will face pressure from higher outgo on central staff wages due to implementation of the 7th Pay Commission and Defence pensions.
Chief Economic Advisor Arvind Subramanian, the author of the analysis, said: “The economy is recovering, but it’s hard to be very definitive about the strength and breadth of the recovery for two reasons — the economy is sending a mixed signal and second, there is some uncertainty on how to interpret GDP data that have come.”
Quick Link – Economic Growth Projection
11. Apple Pay to launch in China in early 2016
Apple Inc and China’s state-owned credit card processor have announced plans to launch the smartphone-based Apple Pay electronic payment system in China. Apple and China UnionPay said they plan to roll out the system in early 2016, pending approval by regulators. China’s biggest shopping season comes ahead of the Lunar New Year holiday, which begins February 8. Apple Pay is a late arrival in a Chinese electronic payments market dominated by Alipay, an arm of the e-commerce giant Alibaba Group, which accounts for about 80 per cent of transactions.
Quick Link – Apple Pay
12. Afghanistan joins World Trade Organisation
Afghanistan has joined the World Trade Organisation (WTO) calling it “historic” membership to boost the war-torn nation’s economy and build peace. The WTO has formally approved Afghanistan’s membership at its 10th ministerial conference in the Kenyan capital Nairobi. Afghanistan’s membership came after formal approval by the WTO ministers in the Kenyan capital Nairobi. WTO Director General Roberto Azevedo said he was “delighted” to welcome Afghanistan.
Afghanistan has become the 164th WTO member and the 36th least developed country (LDC) to join the global trade body after 11 years of negotiations. The landlocked Asian country expects to reap the benefits of the WTO membership for its post-conflict reconstruction. Now Bhutan is the only SAARC member which has so far not joined the multilateral trade body.
Quick Link – Afghanistan in WTO
13. Nepal’s central bank warns of stagflation due to crisis
Nepal’s central bank has warned that the country faces the grim prospect of stagflation. The situation will become worse if the political crisis over its new Constitution is not resolved to end the protests by Indian-origin Madhesis. Nepal Rastra Bank (NRB), the central bank, has warned of stagflation as consumer prices shot up by more than 10 per cent in November, while economic growth is expected to drop to lowest in around one-and-a-half decades.
Nepal’s economy was severely hit after the April 25 earthquake followed by the political turmoil in the southern plains by Indian-origin Madhesis for the last four months. Nepal had contained inflation within single digit in the last 23 months. But in November, it stood at 10.4 per cent the highest in the last three years.
Quick Link – Nepal and Stagflation
14. RBI’s new methodology of base rate calculation
The Reserve Bank of India has issued fresh norms on calculation of base rate on the basis of the marginal cost of funds. This move is aimed at improving the transparency, ensuring speedier monetary policy transmission, and also lowering borrowing costs. The new method — Marginal Cost of funds based Lending Rate (MCLR) — will replace the present base rate system.
MCLR, as the name suggests, mandates banks to calculate the lending rate taking into account the marginal cost of funds. In the base rate system, it was left to the individual banks as to what cost it used, which typically was the average cost of funds. The RBI said all banks will follow a uniform methodology for calculation of base rate or minimum lending rate on the basis of the marginal cost of funds from 1 April, 2016.
Quick Link – New base rate calculation
15. Indian-American’s ‘Super Condom’ can help combat AIDS
Indian-American Mahua Choudhery and her team of researchers at Texas A&M University have come up with the hydrogel based super condom which could help in the global fight against HIV. The condom is made of an elastic polymer called hydrogel, and includes plant-based antioxidants that have anti-HIV properties. Supercondom could help fight against HIV infection and may as well prevent unwanted pregnancy or sexually transmitted diseases.
Choudhury, who studied Molecular Biology, Biophysics and Genetics in India before getting her PhD in the US, has been researching diabetes and the obesity epidemic. She was one of 54 people awarded the Bill & Melinda Gates Foundation’s “Grand Challenge in Global Health” grant.
Quick Link – Super Condom
16. Relaxation of Norms for FDI in Aviation Sector
The Department of Industrial Policy and Promotion (DIPP) has enhanced the foreign equity cap for Non-scheduled Air Transport Service and Ground Handling Services from 74% to 100% and have placed these sectors under the automatic route. Further, Regional Air Transport Service (RSOP) has also been made eligible for Foreign Investment upto 49% under automatic route.
Quick Link – FDI in Aviation Sector
Thank You 🙂 🙂 🙂
