IMPORTANT CURRENT AFFAIRS OF AUGUST 4th, 2017

IMPORTANT CURRENT AFFAIRS OF AUGUST 4th, 2017

1. Lok Sabha Passes Bill to Raise NABARD’s Capital to Rs30,000 crore
i. A bill to enable exit of Reserve Bank of India (RBI) from Nabard and increase authorized capital of the development institution six times to Rs 30,000 crore was passed by the Lok Sabha.

ii. Important Points About the Bill-

1. Increase in capital of NABARD: At present the authorized capital of Nabard is Rs 5,000 crore and there is a proposal to increase it to Rs 30,000 crore.
2. Transfer of the RBI’s share to the Union Government: At present in Nabard, the Centre has a share of 99.6% and the RBI has the remaining share.
3. The Bill substitutes references to provisions of the Companies Act, 1956 under the NABARD Act, 1981, with references to the Companies Act, 2013.
4. The Bill replaces the terms ‘small-scale industry’ and ‘industry in the tiny and decentralized sector’ with the terms ‘micro enterprise’, ‘small enterprise’ and ‘medium enterprise’ as defined in the MSME Development Act, 2006.

2. 2nd Agri UDAAN Program Launched in New Delhi

i. In an attempt to promote innovation and entrepreneurship in agriculture, Government launched the 2nd AGRI-UDAAN program in New Delhi. It will mentor start-ups and help them connect with potential investors.

ii. This 6-month program is a unique platform for scale up stage innovators, entrepreneurs and startups in the Food and Agribusiness sectors. Top 40 startups will be shortlisted and allowed to pitch in front of the panel of evaluators during cohort finalization program.

3. IRCTC Launches Book Now, Pay Later Scheme For Tatkal Tickets

i. Customers can book their Tatkal railway ticket and choose to pay later under the new scheme announced by the Indian Railway Catering and Tourism Corp (IRCTC).

ii. Till now, this service was available only for general reservations. Now, the users can use 'pay on delivery' option to save payment time, increasing their chances of booking a confirmed ticket under the Tatkal quota.

4. First Meeting of Japan-India Coordination Forum held in New Delhi

i. The first meeting of the Japan-India Coordination Forum (JICF) for Development of North-Eastern Region was held in New Delhi.

ii. Priority areas of cooperation identified by Indian side including Connectivity and Road Network Development, especially inter-State roads & major district roads; Disaster Management; Food Processing; Organic Farming and Tourism were discussed in the meeting.

5. Mohammad Mustafa Appointed CMD of SIDBI

i. Senior bureaucrat Mohammad Mustafa was appointed as Chairman and Manging Director (CMD) in Small Industries Development Bank of India (SIDBI).

ii. Mustafa, a 1995 batch IAS officer of Uttar Pradesh cadre, is at present Joint Secretary in Department of Financial Services. The Appointments Committee of the cabinet has approved his appointment to the post for three years, an order issued by the Department of Personnel and Training (DoPT).

6. NCLT Approves Airtel-Telenor Merger

i. The National Company Law Tribunal (NCLT) has approved the proposed merger between Bharti Airtel and Telenor India.

ii. Airtel would take over its spectrum in all seven circles — Andhra Pradesh, Bihar, Maharashtra, Gujarat, UP (East), UP (West) and Assam. It would also acquire its licences and operations, including its employees and customer base of 44 million. 

7. Harmanpreet Kaur to be Appointed DSP by Punjab government

i. The Punjab government has initiated the process of inducting Indian women team cricketer Harmanpreet Kaur as a DSP in the state police. Chief Minister Amarinder Singh directed the state Director General of Police (DGP) Suresh Arora to complete the necessary formalities for her appointment as DSP.

ii. She also received Rs 5 lakh cheque from CM.

8. USISPF –Strategic Partnership Forum Set Up to Deepen Indo – US ties

i. A new representative body US- India Strategic Partnership Forum (USISPF) is being set up to enhance business relations between India and US.

ii. The body will work with businesses and government leaders to achieve its goals of driving economic growth, job creation, innovation, inclusion and entrepreneurship. Mukesh Aghi will serve as a USISPF President while GauravVerma will serve as Chief Operating Officer.

9. Govt inks MoA to set up IRRI’s regional centre in Varanasi

i. The Agriculture Ministry signed a Memorandum of Association (MoA) for setting up a regional centre of the global rice research institute IRRI in Varanasi to develop high- yielding rice varieties.

ii. The Philippines-based International Rice Research Institute (IRRI), which has offices in 17 countries, is known for its work in developing rice varieties that contributed to the green revolution in 1960s.

iii. IRRI's South Asia Regional Centre will be set up at the campus of National Seed Research and Training Centre (NSRTC) in Varanasi.

10. Aadi Perukku Festival Celebrated in Tamilnadu

i. Aadi Perukku is celebrated for the birth of the Tamil month of Aadi. This is the beginning of all the festivals during the festival seasons. The Aadiperukku festival was celebrated with religious fervour in the towns of Mettur, Poolampatti etc situated on the banks of River Cauvery.

ii. During the month of Thai and Aadi the sun changes directions so it is celebrated  Aadi Perukku festival celebrated in Tamilnadu in that way. The 18th day of Aadi is observed as ‘Aadiperukku’, a day of offerings and prayers to the water bodies like rivers and lakes.

11. Neymar Becomes World's Most Expensive Footballer

i. Brazil's Neymar has become the world's most expensive footballer, with Paris Saint-Germain signing him for a five-year deal from Barcelona for a fee of Rs1,680 crore (€222 million).

ii. The 25-year-old will earn Rs6.5 crore-a-week before tax. His transfer fee is more than double that of Paul Pogba's record move to Manchester United.

12. Microsoft Ties Up With Telangana To Use AI To Screen Kids For Eye Issues

i. Microsoft ties up with the state of Telangana to use its artificial intelligence-based MINE platform to screen children for eye problems and prevent avoidable blindness. 

ii. MINE -Microsoft Intelligent Network for Eyecare -is a global consortium of eye care providers, research and academic institutions that will apply artificial intelligence to help in eye care delivery.

13. HeliTaxi Services From Bengaluru Airport to Electronic City Launched

i. Thumby Aviation, a private helicopter service provider, and Bangalore International Airport Ltd (BIAL) have partnered to launch HeliTaxi services from Bengaluru Airport.

ii. The helicopter service will initially be launched from Bengaluru Airport to Electronic City and gradually expanded to other parts of the city.

14. Kotak Bank’s New Forex Service

i. Kotak Mahindra Bank has launched Kotak Remit — an Aadhaar-based integrated outward forex remittance solution for both customers and non-customers.

ii. The 24x7 forex remittance service offers a completely paperless process that enables users to register online using Aadhaar and PAN numbers, and initiate remittances instantly.