Monday, 15 May 2017

Daily Update On Current Affairs - May 14, 2017

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

India To Skip OBOR Summit In China

India will skip the two-day grand OBOR summit organised by China to showcase its plans to build a network of trade routes under the One Belt, One Road (OBOR). OBOR is China’s ambitious development strategy and framework that aims to boost its connectivity and trade that will connect Asia, Africa, the Middle East and Europe. It was proposed by Chinese President Xi Jinping in 2013. The summit is expected to be attended by nearly 65 countries. However, only 20 heads of state are expected to attend the summit. The US and Japan who were initially reluctant to attend the summit have decided to send a representative at the last minute. India, however, has refused to send any representative owing to sovereignty concerns related to the China-Pakistan Economic Corridor (CPEC).

Ransomware Cyber Attack Plays Havoc In Several Countries Including India

A global cyber attack has crippled nearly hundred countries, including India. A cyber gang called Shadow Brokers, which is a mysterious organisation is held responsible for this massive cyber attack. The organisation has carried out the attack by stealing a hacking tool called ‘Eternal Blue’ from the National Security Agency (NSA), America’s powerful military intelligence unit. The hacking tool Eternal Blue gives unprecedented access to all computers using Microsoft Windows. It was developed by NSA to gain access to computers used by terrorists and enemy states. The cyber attack is considered as the biggest ransomware attack of its kind. As per security software company Avast, its researchers have observed more than 75,000 attacks worldwide in 99 countries including the UK, Russia, Ukraine, India, China, Italy, and Egypt.

BSF To Use Invisible Laser Wall Kavach To Secure Border

The Border Security Force will make use of a newly developed technology that is capable of detecting intrusions and relaying information to the nearest post for action to safeguard the 198 km India-Pakistan international border in Jammu and Kashmir. The technology developed by the Delhi-based defence IoT firm, CRON Systems is expected to bolster BSF’s defences amid strained ties and increase in the number of infiltration bids and ceasefire violations. The new technology called Kavach (KVx) series laser walls has been built indigenously and are a notch higher than the existing laser walls. BSF is presently pilot testing the Kavach walls along the Samba sector border in Jammu and Kashmir.

Forex Reserves Reach Life-Time High Of 375.71 Billion

According to RBI, India’s foreign exchange (Forex) reserves have increased by  2.985 billion to touch a lifetime high of 375.71 billion in the week that ended on May 5. The increase was due to increase in foreign currency assets (FCAs). The reserves had increased by 2.474 billion to 351.53 billion in the previous week. 

Components: The components of India’s Foreign Exchange Reserves include; Foreign currency assets (FCAs), Gold, Special Drawing Rights (SDRs) and RBI’s Reserve position with International Monetary Fund (IMF). Out of all the components, FCAs constitute the largest component of the Forex Reserves. FCA rose by 2.474 billion to 351.53 billion in the reporting week. FCAs consist of US dollar and other major non-US global currencies. It also comprises of investments in US Treasury bonds, bonds of other selected governments, deposits with foreign central and commercial banks. FCAs include with them the effects of appreciation or depreciation of non-US currencies like the euro, pound, and the yen and is expressed in terms of dollars. The gold reserves increased 569.9 million to 20.438 billion. SDRs' value decreased marginally by 0.4 million to 1.459 billion. RBI’s reserve position with the IMF declined 58.4 million to 2.288 billion.

New Pneumococcal Conjugate Vaccine Against Pneumonia Launched

Minister for Health and Family Welfare J P Nadda has launched new Pneumococcal Conjugate Vaccine, PCV, for Pneumonia at Lal Bahadur Shastri Medical College Hospital in Mandi district of Himachal Pradesh. The vaccine is a part of government’s Universal Immunization Programme (UIP). Henceforth, the vaccine will be administered under routine immunisation programme. The vaccine would help in controlling pneumonia and reducing the child mortality rate. In India, more than 1 lakh children die of pneumonia every year. The vaccine will provide protection against 13 types of pneumococcal bacteria which results in pneumonia. This is the twelfth disease for which the Health Ministry has launched a vaccine. The vaccine Pneumococcal Conjugate protects against Streptococcus pneumonia and diseases such as pneumonia, ear infections, sinus infections and meningitis. PCV was first introduced in 2000. The whole of Himachal Pradesh as well as six districts of Uttar Pradesh and seventeen districts of Bihar will be covered under the first phase of the immunisation programme.

Asian Wrestling Championship: Bajrang Wins First Gold Medal For India

Bajrang Punia gave India its first gold medal on the penultimate day of the Asian Wrestling Championship at the Indira Gandhi Sports Complex in New Delhi. He defeated South Korea’s Seunghui Lee 6-2 in the men’s 65kg freestyle category. Wrestler Sarita settled for a silver medal. She lost 0-6 to Aisuluu Tynybekova of Kyrgyzstan in the final of women's 58kg category. Indian women wrestlers have registered their best ever performance in the Asian Championship in this edition with six medals, including four silver so far. Olympic Bronze medallist Sakshi Malik, Vinesh Phogat and Divya Kakran had on Friday claimed silver medals while Ritu Phogat had won a bronze. 

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