Daily Current Affairs-12th-13th June
National
Pranab Mukherjee first Indian President to visit Ghana:
i. President Pranab Mukherjee on Sunday arrived in Accra in the first leg of his six-day visit to three African nations – Ghana, Ivory Coast and Namibia, as part of “outreach to Africa” focusing on trade, education and boosting relations with these countries.
ii. This is the maiden visit of any Indian President to Ghana and Ivory coast whereas to Namibia, such a visit comes after two decades.
iii. The President is accompanied by Minister of State for the PMO Jitendra Singh and BJP MPs – SS Ahluwalia and Mansukh L Mandaviya.
iv. In the tightly packed schedule spread till Jun 14 afternoon, Mukherjee will attend eight events which begin on Sunday with a banquet hosted by Ghana’s President John Drahami Mahama in his honour.
v. The President will be given a ceremonial welcome tomorrow followed by delegation level talks at President’s House which is called Flag Staff House.
vi. The imposing building has an Indian touch as it is constructed by an Indian company Shapoorji Pallonji.
i. President Pranab Mukherjee on Sunday arrived in Accra in the first leg of his six-day visit to three African nations – Ghana, Ivory Coast and Namibia, as part of “outreach to Africa” focusing on trade, education and boosting relations with these countries.ii. This is the maiden visit of any Indian President to Ghana and Ivory coast whereas to Namibia, such a visit comes after two decades.
iii. The President is accompanied by Minister of State for the PMO Jitendra Singh and BJP MPs – SS Ahluwalia and Mansukh L Mandaviya.
iv. In the tightly packed schedule spread till Jun 14 afternoon, Mukherjee will attend eight events which begin on Sunday with a banquet hosted by Ghana’s President John Drahami Mahama in his honour.
v. The President will be given a ceremonial welcome tomorrow followed by delegation level talks at President’s House which is called Flag Staff House.
vi. The imposing building has an Indian touch as it is constructed by an Indian company Shapoorji Pallonji.
Business & Economy
DCB Bank launches Aadhaar enabled ATM in Bengaluru:
i. DCB Bank launched Bengaluru’s first ATM that accepts Aadhaar number and Aadhaar fingerprint (biometric) instead of ATM/Debit Card and PIN to dispense cash.
ii. The “cardless and PIN less” ATM was launched by former Chairman of the Unique Identification Authority of India, Nandan Nilekani.
iii. Nilekani is the Chairperson and Co-founder ofEkStep Foundation, a non-profit literacy organisation.
iv. In April 2016, the Bank pilot launched India’s first aadhaar based ATM in Mumbai. This was followed by launch of Aadhaar based ATM in Odisha and Punjab. DCB Bank Chairman is Nasser Munjee.
i. DCB Bank launched Bengaluru’s first ATM that accepts Aadhaar number and Aadhaar fingerprint (biometric) instead of ATM/Debit Card and PIN to dispense cash. ii. The “cardless and PIN less” ATM was launched by former Chairman of the Unique Identification Authority of India, Nandan Nilekani.
iii. Nilekani is the Chairperson and Co-founder ofEkStep Foundation, a non-profit literacy organisation.
iv. In April 2016, the Bank pilot launched India’s first aadhaar based ATM in Mumbai. This was followed by launch of Aadhaar based ATM in Odisha and Punjab. DCB Bank Chairman is Nasser Munjee.
SEBI issues stricter KYC, disclosure norms for P-Notes:
i. The markets regulator SEBI (Securities and Exchange Board of India) has put in place a stricter KYC (Know Your Customer) norms and disclosure regime for Participatory Notes (P-Notes).
ii. P-Notes are offshore/overseas derivative instruments (ODIs) issued by registered foreign institutional investors (FII) to overseas investors.
iii. They provide easier and cost-effective route to foreign investors to invest in Indian markets without directly registering as Foreign Portfolio Investors (FPIs).
i. The markets regulator SEBI (Securities and Exchange Board of India) has put in place a stricter KYC (Know Your Customer) norms and disclosure regime for Participatory Notes (P-Notes).ii. P-Notes are offshore/overseas derivative instruments (ODIs) issued by registered foreign institutional investors (FII) to overseas investors.
iii. They provide easier and cost-effective route to foreign investors to invest in Indian markets without directly registering as Foreign Portfolio Investors (FPIs).
Key insights:
a) The aim of SEBI’s stricter KYC, disclosure norms is to make it tougher to use these offshore instruments that do not disclose the money-trail and details of their users.
b) Under the new norms, all the users of P-Notes would have to follow Indian KYC and Anti Money Laundering (ALM) Regulations, irrespective of their jurisdictions.
c) Henceforth, P-Note issuers will be required to file suspicious transaction reports with the Indian Financial Intelligence Unit.
a) The aim of SEBI’s stricter KYC, disclosure norms is to make it tougher to use these offshore instruments that do not disclose the money-trail and details of their users.
b) Under the new norms, all the users of P-Notes would have to follow Indian KYC and Anti Money Laundering (ALM) Regulations, irrespective of their jurisdictions.
c) Henceforth, P-Note issuers will be required to file suspicious transaction reports with the Indian Financial Intelligence Unit.
Background: The measure was issued after taking into account suggestions from Special Investigation Team (SIT) on black money to ensure this route is not used for money laundering.
International
Norway became the first country to prohibit deforestation:
i. Norway has become the first country in the world to prohibit deforestation. In this regard, Norwegian Parliament had pledged to make government’s public procurement policy deforestation-free.
ii. Henceforth, Norway will no longer procure use or procure products that encourage deforestation.
iii. Norwegian lawmakers also committed to find a way to source essential products such as soy, palm oil, beef and timber that have little or no impact on ecosystems.
i. Norway has become the first country in the world to prohibit deforestation. In this regard, Norwegian Parliament had pledged to make government’s public procurement policy deforestation-free.
ii. Henceforth, Norway will no longer procure use or procure products that encourage deforestation.
iii. Norwegian lawmakers also committed to find a way to source essential products such as soy, palm oil, beef and timber that have little or no impact on ecosystems.
12 June: World Day against Child Labour:
i. The World Day Against Child Labour is being observed annually across world on 12 June to bring awareness against child labour.
ii. Significance of the day: The observance of the day seeks to bring together governments, employers and workers organizations, civil society, as well as millions of people from around the world to highlight the plight of child labourers and what can be done to help them.
iii. 2016 Theme: ‘End child labour in supply chains – It’s everyone’s business.’ The theme focuses on child labour and supply chains.
i. The World Day Against Child Labour is being observed annually across world on 12 June to bring awareness against child labour.ii. Significance of the day: The observance of the day seeks to bring together governments, employers and workers organizations, civil society, as well as millions of people from around the world to highlight the plight of child labourers and what can be done to help them.
iii. 2016 Theme: ‘End child labour in supply chains – It’s everyone’s business.’ The theme focuses on child labour and supply chains.
Background: The International Labour Organization (ILO), an UN body had launched World Day Against Child Labour in 2002 to focus attention on the global extent of child labour and the action and efforts needed to eliminate it.
Awards & Honors
Indian-American Author Akhil Sharma wins 2016 International Dublin Literary Award:
i. Indian American author Akhil Sharma won the prestigious 2016 International Dublin Literary Award for his semi-autobiographical novel “Family Life.”
ii. Family Life is Sharma’s second novel and took him 13 years to write. The novel traces the journey of a family that emigrates from New Delhi to New York, where one brother is left severely brain-damaged after a tragedy strikes.
i. Indian American author Akhil Sharma won the prestigious 2016 International Dublin Literary Award for his semi-autobiographical novel “Family Life.”ii. Family Life is Sharma’s second novel and took him 13 years to write. The novel traces the journey of a family that emigrates from New Delhi to New York, where one brother is left severely brain-damaged after a tragedy strikes.
About Akhil Sharma:
a) Sharma was born in New Delhi. Later he had immigrated to US along with his family in 1979.
b) His first novel was An Obedient Father published in 2000. It has won the prestigious PEN/Hemingway Foundation Award in 2001.
a) Sharma was born in New Delhi. Later he had immigrated to US along with his family in 1979.
b) His first novel was An Obedient Father published in 2000. It has won the prestigious PEN/Hemingway Foundation Award in 2001.
About International Dublin Literary Award: The International Dublin Literary Award is an annual international literary award awarded for a novel written in English or translated into English.
Science & Technology
Scientists in Iceland turn CO2 into rock to combat climate change:
i. In a unique experiment, scientists from Iceland have discovered a new way to trap the greenhouse gas (GHG) carbon dioxide (CO2) deep underground by changing it into rock.
ii. The new way was discovered as by Scientists from Columbia University’s Lamont-Doherty Earth Observatory and other institutions as part of a pilot program called CarbFix project.
iii. The pilot program was launched in 2012 at the Hellisheidi power plant- the world’s largest geothermal facility in Iceland.
i. In a unique experiment, scientists from Iceland have discovered a new way to trap the greenhouse gas (GHG) carbon dioxide (CO2) deep underground by changing it into rock.ii. The new way was discovered as by Scientists from Columbia University’s Lamont-Doherty Earth Observatory and other institutions as part of a pilot program called CarbFix project.
iii. The pilot program was launched in 2012 at the Hellisheidi power plant- the world’s largest geothermal facility in Iceland.
Significance: This technique the speedy carbonation has potential to combat climate change and may provide a safer, faster way to sequester CO2 and limit global warming. In future, it could be a viable way to store CO2 underground permanently and without risk of leakage.
China successfully launches 23rd BeiDou Navigation Satellite:
i. China has successfully launched a 23rd BeiDou Navigation Satellite to support its global navigation and positioning network.
ii. The satellite was launched from the Xichang Satellite Launch Center in southwest China’s Sichuan Province on board of Long March-3C carrier rocket.
iii. It is the 23rd satellite in the BeiDou Navigation Satellite System, which is being developed as an alternative to GPS (Global Positioning System) of US.
i. China has successfully launched a 23rd BeiDou Navigation Satellite to support its global navigation and positioning network.
ii. The satellite was launched from the Xichang Satellite Launch Center in southwest China’s Sichuan Province on board of Long March-3C carrier rocket.
iii. It is the 23rd satellite in the BeiDou Navigation Satellite System, which is being developed as an alternative to GPS (Global Positioning System) of US.
Obituary
Eminent journalist Inder Malhotra passes away:
i. Distinguished journalist, editor and author Inder Malhotra passed away following a long illness in New Delhi. He was 86.
ii. He had served as a resident editor of The Times of India and The Statesman. In his journalistic career he had mapped the ebb and flow of the Indian politics underevery Prime Minister of independent India.
i. Distinguished journalist, editor and author Inder Malhotra passed away following a long illness in New Delhi. He was 86.ii. He had served as a resident editor of The Times of India and The Statesman. In his journalistic career he had mapped the ebb and flow of the Indian politics underevery Prime Minister of independent India.
About Inder Malhotra:
a) Malhotra was the resident editor of The Statesman in New Delhi from 1965 to 1971.
b) Books: In 1991, he authored Indira Gandhi: A Personal and Political Biography, a political and personal biography of former Indian Prime Minister Indira Gandhi.
c) Awards and Honours: Ramnath Goenka Lifetime Achievement Award (2013).
a) Malhotra was the resident editor of The Statesman in New Delhi from 1965 to 1971.
b) Books: In 1991, he authored Indira Gandhi: A Personal and Political Biography, a political and personal biography of former Indian Prime Minister Indira Gandhi.
c) Awards and Honours: Ramnath Goenka Lifetime Achievement Award (2013).
Thespian theatre personality Achyut Lahkar passes away:
i. Veteran theatre personality, playwright and doyen of Assam’s mobile theatre movement Achyut Lahkarpassed away in Pathsala, Assam following a protracted illness. He was 85.
ii. He was considered as the father of theBhryamyman or Mobile Theatre of Assam. He had given birth to mobile theatre in Assam in the 1960s.
i. Veteran theatre personality, playwright and doyen of Assam’s mobile theatre movement Achyut Lahkarpassed away in Pathsala, Assam following a protracted illness. He was 85.ii. He was considered as the father of theBhryamyman or Mobile Theatre of Assam. He had given birth to mobile theatre in Assam in the 1960s.
About Achyut Lahkar:
a) Born in 1931 at Pathsala, Assam. He was a theatre enthusiast from his childhood days.
b) He was a pioneering actor, dramatist, director and producer and staged numerous memorable plays on the mobile theatre stage.
c) He had founded Nataraj Theatre, the first mobile theatre company of Assam in 1963, which later gave the mobile theatre movement the shape of a successful entertainment industry.
a) Born in 1931 at Pathsala, Assam. He was a theatre enthusiast from his childhood days.
b) He was a pioneering actor, dramatist, director and producer and staged numerous memorable plays on the mobile theatre stage.
c) He had founded Nataraj Theatre, the first mobile theatre company of Assam in 1963, which later gave the mobile theatre movement the shape of a successful entertainment industry.
Short News
I. In the light of the recent class XII Bihar board results scandal, the state Education Department has launched ‘Operation Clean Up’, under which B.Ed colleges of the state will be probed.
II. With the birth of a baby girl in Nagpur over the weekend, India has reportedly recorded its first ever case of a baby born with a rare genetic disorder called ‘Harlequin Ichthyosis’. The disease, which affects 1 in 3 lakh babies, causes thickening of the skin all over the body with cracks in between and makes babies prone to infection.
III. Tata Power said it signed a deal to acquire energy firm Welspun Renewables in what would be the biggest transaction in the renewable energy space in India. The size of the deal was reportedly estimated at ₹10,000 crore. Notably, India has a target of installing 60 GW of wind and 100 GW of solar power capacity by 2022.
IV. United Launch Alliance’s ‘Delta IV Heavy’, the world’s largest rocket, was successfully launched on Saturday carrying a classified payload for the US intelligence agency National Reconnaissance Office.
V. The Mines Ministry is developing a pan-India surveillance network using satellite technology to curb illegal mining. Called Mining Surveillance System, the technology will track mine lease areas and detect changes in topography.
VI. Andhra Pradesh Chief Minister N Chandrababu Naidu on Friday launched an IT-enabled management system for irrigation projects in the state. The system will enable regular assessment of the progress of the ongoing projects in the state and help in monitoring water storage levels and flow of various rivers and reservoirs, the government said.
VII. The villages in Haryana where no FIR is registered this year will be honoured with a letter of appreciation, Director General of Police KP Singh announced on Saturday.
VIII. Software giant Microsoft is buying business-oriented social networking service LinkedIn in an all-cash transaction valued at $26.2 billion, the company announced in a blog post on Monday. Jeff Weinerwill remain the CEO of LinkedIn and will report to Microsoft CEO Satya Nadella.
II. With the birth of a baby girl in Nagpur over the weekend, India has reportedly recorded its first ever case of a baby born with a rare genetic disorder called ‘Harlequin Ichthyosis’. The disease, which affects 1 in 3 lakh babies, causes thickening of the skin all over the body with cracks in between and makes babies prone to infection.
III. Tata Power said it signed a deal to acquire energy firm Welspun Renewables in what would be the biggest transaction in the renewable energy space in India. The size of the deal was reportedly estimated at ₹10,000 crore. Notably, India has a target of installing 60 GW of wind and 100 GW of solar power capacity by 2022.
IV. United Launch Alliance’s ‘Delta IV Heavy’, the world’s largest rocket, was successfully launched on Saturday carrying a classified payload for the US intelligence agency National Reconnaissance Office.
V. The Mines Ministry is developing a pan-India surveillance network using satellite technology to curb illegal mining. Called Mining Surveillance System, the technology will track mine lease areas and detect changes in topography.
VI. Andhra Pradesh Chief Minister N Chandrababu Naidu on Friday launched an IT-enabled management system for irrigation projects in the state. The system will enable regular assessment of the progress of the ongoing projects in the state and help in monitoring water storage levels and flow of various rivers and reservoirs, the government said.
VII. The villages in Haryana where no FIR is registered this year will be honoured with a letter of appreciation, Director General of Police KP Singh announced on Saturday.
VIII. Software giant Microsoft is buying business-oriented social networking service LinkedIn in an all-cash transaction valued at $26.2 billion, the company announced in a blog post on Monday. Jeff Weinerwill remain the CEO of LinkedIn and will report to Microsoft CEO Satya Nadella.