Friday, 5 May 2017

Daily Update On Current Affairs - May 05, 2017

current affairs
Here's your daily summary of Current Affairs.

Swachh Sarvekshan-2017: Indore Is The Cleanest City

Union Urban Development Minister M. Venkaiah Naidu has announced the Cleanest Cities in the Country and the fastest moving cities on sanitation ladder under Swachh Sarvekshan-2017. Indore has been adjudged as the cleanest city in India, while Gonda in Uttar Pradesh has been ranked as the dirtiest city among surveyed. In total, 434 cities and towns with a population of one lakh and above were surveyed. Last year survey had surveyed only 73 cities with a population of 10 lakh and above. Cities and towns in West Bengal did not take part in the survey as the Mamata Banerjee government did not participate in the Swachh Survekshan. 

The top ten highly ranked cities are:
Indore (1st),
Bhopal (2nd),
Visakhapatnam (3rd), 
Surat (4th), 
Mysuru (5th), 
Tiruchirapalli of Tamil Nadu (6th), 
New Delhi Municipal Council (7th), 
Navi Mumbai (8th), 
Tirupati of Andhra Pradesh (9th), 
Vadodara (10th). 

Overall, Jharkhand and Chattisgarh have emerged as the best performing states in Swachh Survekshan, 2017. States like Gujarat, Madhya Pradesh, and Andhra Pradesh have performed well in sanitation rankings.

Banganapalle Mango Of Andhra Pradesh Gets GI Tag

The Registrar of Geographical Indications Registry, Chennai, has accorded GI Tag for the much famed Banganapalle Mango of Andhra Pradesh. Henceforth, Andhra Pradesh government will be the registered proprietor of the GI tag for Banganapalle mangoes.

GI Tag: A GI tag specifies that the product comes from a specific region. Geographical Indications of Goods are defined as that aspect of industrial property which refers to the geographical indication referring to a country or to a place situated therein as being the country or place of origin of that product. Typically, such a name conveys an assurance of quality and distinctiveness. Under Articles 1 (2) and 10 of the Paris Convention for the Protection of Industrial Property, geographical indications are covered as an element of IPRs. They are also covered under Articles 22 to 24 of the Trade-Related Aspects of Intellectual Property Rights (TRIPS) Agreement. A Geographical Indications Registry with all India jurisdiction operates in Chennai, as per the Geographical Indication of Goods (Registration and Protection) Act 1999.

Surface-To-Surface Agni-II Ballistic Missile Successfully Test-Fired Off Odisha Coast

India’s surface-to-surface Agni-II ballistic missile was successfully test-fired off the Odisha coast on the 4th May 2017. Defence Research Development Organisation (DRDO) carried out the test at the Integrated Test Range on the Wheeler Island. The missile has a strike range of 2,000 kilometers. Defence sources said the test was aimed at re-establishing the operational effectiveness of the weapon system. The successful launch once again proved the reliability of the medium range surface to surface missile. The two-stage missile equipped with advanced high accuracy navigation system, guided by a novel scheme of state-of-the-art command and control system was propelled by a solid rocket propellant system. The surface-to-surface missile can carry a nuclear payload of 1 thousand kilograms. The range of the 20-metre long missile weighing 17 tonnes can also be increased to 3 thousand kilometers by reducing the payload. Agni missile series being developed by DRDO as a deterrent against nuclear-armed neighbors are among India’s most sophisticated weapons.

Nifty At New Peak, BSE Sensex Ends Above 30,000

The 50-share NSE Nifty spurted 47.95 points to end at a lifetime high of 9,359.90. Its previous record closing was 9,351.85 achieved on April 26. Similarly, the BSE Sensex has ended above the 30,000-mark. The upbeat performance of market benchmark Nifty and BSE Sensex is to be seen at the backdrop of reform steps taken by the government in banking and infra space. With government’s decision to bring an ordinance in the banking sector to empower RBI, banking stocks surged up to 9%. Sentiments also remained upbeat following government’s decision to boost steel output and consumption as well as following strong earnings by the biggest private lender ICICI Bank. The positive sentiments were also due to the decision of US Federal Reserve to keep its policy rate unchanged. The BSE Sensex closed at 30,126.21 which is its highest level since April 26 when it closed at a record high of 30,133.35. Also, the Bank Nifty closed at an all-time high of 22,720.10 after registering an intra-day record peak of 22,743.70. On the macro front, as per the Nikkei India Services Purchasing Managers’ Index (PMI), services sector registered growth for the third straight month in April. However, the pace of growth got slowed down due to the slower rise in new business and employment.

Union Cabinet Clears Ordinance To Tackle Bad Loans

The Union Cabinet has cleared an ordinance that seeks to amend the Banking Regulation Act to give more powers to Reserve Bank of India to deal with non-performing assets (NPAs) in the banking sector. The ordinance has been sent to the President for assent. Amendments will empower RBI to act against loan defaulters and defaulting companies under the bankruptcy code. Amendments will enable RBI to set up multiple oversight committees to deal with NPAs. Amendments will be made to make sure that bankers opting for resolution of bad debts are ring-fenced from any regulatory backlash.

Asian Development Bank Predicts 7.4 Percent Growth For Indian Economy This Fiscal

The Asian Development Bank (ADB) has said that the Indian economy will grow at 7.4 percent this fiscal, and 7.6 percent in the next fiscal. India had grown 7.1 per cent in the previous fiscal.

ADB Chief Economist Yasuyuki Sawada said that reforms like the Goods and Services Tax and the new bankruptcy law will make it easier to do business in India. On the impact of rupee appreciation on exports, he said, the appreciation cannot be considered in isolation, and the overall export performance of India so far seems quite positive. The rupee has appreciated by over 5 percent against the US dollar since January.

Equity ETFs Rise On Investor Interest

Equity Exchange Traded Funds (ETFs) saw significant growth in the financial year 2016-17, with the total Assets Under Management (AUM) increasing three-fold on the back of a higher demand from both retail and institutional investors. The total AUM of equity ETFs was pegged at Rs 43,234 Cr as on March 31, 2017, as compared to Rs 15,066 Cr as of March 31, 2016.

India And UK Agree To Address Challenges Of Illegal Migrants; Express Satisfaction In Matters Relating To Extradition Of Wanted Persons

India and the UK have agreed to address the challenges of illegal migrants. At the First Home Affairs Dialogue held in New Delhi, the two sides agreed to work together to ensure a smooth return of Indians overstaying in the UK subject to nationality verification. Both sides expressed satisfaction in matters relating to the extradition of wanted persons. The process involved in matters of extradition and the need to further improve them were also discussed. Both sides also agreed to enhance and strengthen further the bilateral cooperation and work towards formalizing the arrangements. Regarding criminal data sharing and strengthening cooperation in tackling serious and organized crimes, the two sides expressed their satisfaction with the existing level of cooperation. India raised the issue of visa related difficulties faced by Indian students, skilled professional and dependents of Indian diplomats. UK side assured to looked into it and mentioned that it has been its constant endeavor to improve the visa process to promote people to people exchanges between the two countries. The UK side also briefed about the progress regarding the registered traveling services and great club announcements which were made during UK Prime Minister’s visit in 2016. Both India and UK laid emphasis on cooperation on anti- terrorism mechanism and to strengthen mutual support to check cyber crimes.

U.S House Of Representatives Passes Bill To Repeal Obama Care Health Bill

The US House of Representatives held a voting on 4th May 2017 on a revised health care bill which has replaced Obamacare. However, the division amongst the members was quite deep as evidenced by the narrow margin of victory for the ruling Republicans. The victory margin was very thin at 217 for and 213 against.

India Ranked 100th In FIFA Rankings

As per the updated FIFA world football rankings, the Indian national football has managed to secure a 100th spot and entered into the top 100 of FIFA rankings. This is the first time in 21 years that India has been ranked into top 100. India has been placed 100th alongside Nicaragua, Lithuania, and Estonia with a total of 331 points. India had ranked 101st in the FIFA rankings for April. The team climbed one spot up owing to the recent wins over Cambodia and Myanmar. The current ranking is a 72-place jump from being 173rd in March 2015. In 1996, India managed to secure the 94th spot. Till date, it remains the country’s best ever FIFA ranking.
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1 comment:

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