Saturday, 10 June 2017

Daily Update On Current Affairs - June 10, 2017

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

NITI Aayog Launches SATH Program

NITI Aayog has launched SATH-‘Sustainable Action for Transforming Human Capital’ with the State Governments for furthering the agenda of cooperative federalism. NITI Aayog under the SATH initiative plans to identify and build three future ‘role model’ states for health systems. After identification of three states, NITI Aayog will work in close collaboration with the state machinery of these three states. It will help in designing a robust roadmap, develop a program governance structure, establish monitoring and tracking mechanisms, and provide support to the state institutions to achieve the end objectives. SATH program will be implemented by NITI Aayog along with McKinsey & Company and IPE Global Consortium.

Supreme Court: Linking of Aadhaar with PAN Mandatory

The Supreme Court has upheld the government’s decision and ruled that it would be mandatory for all Aadhaar holders to link it with the permanent account number (PAN) for the filing of income tax returns. However, in a partial setback to the government, the apex court refused to make it compulsory for those people who do not possess an Aadhaar card or have not yet applied for one. The Court stayed the retrospective invalidation of PAN for non-compliance till a Constitutional Bench decides on the privacy question pending before it. As a result, a person who does not possess Aadhaar card will not face criminal consequences for not linking Aadhaar card with PAN card. The Supreme Court also upheld the legislative competence of Parliament in enacting the law to this effect. However, it has stated that it has not touched upon the issue of Right to Privacy and other aspects which will be decided by the Constitution Bench.

President Launches ‘Selfie With Daughter’ Mobile App

The President of India, Pranab Mukherjee has launched a mobile Application ‘Selfie with Daughter’ at Rashtrapati Bhavan. The App is aimed at raising awareness among people about female foeticide and sex selection. The President has urged the people to take selfies with their daughters to make the campaign a huge success. The app is expected to create awareness and help in dealing with the problems arising out of gender imbalance. The President has termed the App as an innovative concept and as an act of gentle persuasion.

India Becomes Full Member Of Shanghai Cooperation Organisation

India and Pakistan today became full members of the Shanghai Cooperation Organisation (SCO), the first-ever expansion of the security grouping. India's membership was strongly pushed by Russia while Pakistan's entry into the grouping was backed by China. Prime Minister Narendra Modi thanked SCO member countries for giving support to the accession of India to SCO. Prime Minister made a passionate appeal to world leaders to fight out the menace of terrorism in any form. The Prime Minister said concerted efforts are required to find a solution to recruitment, training, and financing of terrorists. Addressing the 17th SCO Summit in Kazakhstan capital Astana today, Mr. Modi said, terrorism is a major threat to humanity. Mr. Modi said India gives utmost priority to increase connectivity among SCO countries and asserted that India would continue to work together with them. He said SCO can also focus attention to address the problem of climate change. He said, with India and Pakistan induction, SCO covers 42 percent of world population and 20 percent of world GDP.

Government Awards Contracts For Completion Of Kaladan Project In Myanmar

The government has awarded a Rs 1,600-crore contract for constructing a 109-km road connecting Paletwa river terminal to Zorinpui in Mizoram border as a part of the 484-million Kaladan multi-modal transport (KMTT) projects in Myanmar which will offer connectivity to Mizoram. Kaladan multi-modal transport project was the first major project undertaken by the Indian government in Myanmar. India has finished constructing Sittwe port in the trouble-prone Rakhine state of Myanmar. Also, the extension of the Aizawl-Saiha National Highway by 90 km to the international border at Zorinpui at the Indian side is nearing completion. In addition, four-laning of the 300 km Aizawl-Tuipang highway to ensure faster movement of goods between Sittwe and Aizawl is also nearing completion.

UK Elects Its First Female Sikh And First Turban Wearing Sikh As MPs

In a first, Preet Kaur Gill has become the first Sikh to be elected to the British Parliament’s House of Commons. Similarly, Tanmanjeet Singh Dhesi has become the first turban-wearing Sikh to be elected to the House of Commons. Also in a first, the House of Commons will have a record 12 Indian-origin MPs, which will be two more than the present record of 10 (five each from Labour and Conservative). The victories of Preet Kaur Gill and Tanmanjeet Singh Dhesi is considered as a significant milestone for Sikh politicians in United Kingdom in this election. Dhesi and Gill are from the opposition Labour party. While Dhesi has won from the Slough constituency and Gill has won from Birmingham Edgbaston.

India And UNOSSC Launch Partnership Fund To Promote Sustainable Development

India and the UN Office for South-South Cooperation have launched a partnership fund to promote sustainable development projects across the developing world. The India-UN Development Partnership Fund was launched on occasion of the World Oceans Day at a special ceremony held at the Permanent Mission of India to the UN. The India-UN Development Partnership Fund will be utilized to carry out country-level projects that would be catalytic towards achieving the 17 sustainable development goals (SDGs) of the 2030 Agenda. The Partnership Fund would be managed by UNOSSC. This will be the first time that India has entered into a partnership with the UN in a triangular cooperation with fellow developing countries.

In Britain, No Party Gets Majority In Parliamentary Elections; Theresa May Claims To Form Government With Democratic Unionists Backing

British Prime Minister Theresa May has said she will put together a government with the support of the Democratic Unionists that can provide certainty for the future. Speaking after visiting Buckingham Palace, she said only her party had the legitimacy to govern, despite falling eight seats short of a majority. May said she would join with her DUP friends to get to work on Brexit. But Labour said they were the real winners while the Liberal Democrats said Mrs. May should be "ashamed" of carrying on. This comes in the wake of the  Conservative party losing its majority in a snap general election that has resulted in a hung parliament. The Tories needed 326 seats to win another majority but, with 649 out of the 650 seats declared, they fell short and must rely on the DUP to continue to rule.

The European Union Imposes New Anti-Dumping Duties On Steel Products From China To Protect Struggling European Steel Manufacturers

The European Union (EU) has imposed new anti-dumping duties on steel products from China, as it broadens its campaign to protect struggling steel manufacturers in Europe. EU Trade Commissioner Cecilia Malmstroem said in Brussels that it imposed duties of up to 35.9 percent on Chinese hot-rolled flat steel used in shipbuilding, gas containers, pressure vessels, tubes and energy pipelines. He said the EU took the latest action against China for allegedly flooding global markets in violation of international trade agreements.

Jaitley To Review Performance Of PSU Banks

Finance Minister Arun Jaitley will meet heads of public sector banks and financial institutions on June 12 to discuss issues related to rising bad loans, interest rate reduction and credit flow to various sectors. He will also review the performance of the lenders. The meeting assumes significance as it will be the first after promulgation of the ordinance amending the Banking Regulation Act, 1949, last month. The government had through this ordinance empowered the Reserve Bank to ask banks to initiate insolvency proceedings to recover bad loans and promised more measures to resolve the NPA crisis. “Major issues on the agenda of the meeting, the first during this fiscal, include issues and solutions relating to Non Performing Assets (NPAs) of the public sector banks (PSBs), status of MSE Credit, Stand-up India and Mudra Yojana among others,” the Finance Ministry announced through a statement today.

SBI's QIP Oversubscribed, Demand Tops Rs. 27,000 Cr

State Bank of India on Friday said its qualified institutional placement offer for raising Rs. 15,000 crore was oversubscribed, with demand exceeding Rs. 27,000 crore and the issue getting priced at Rs. 287.25 per share. India’s largest bank, in a statement, said exceptionally strong demand of over Rs. 8,000 crores came from long only foreign institutional investors. Overall, FII demand was in excess of Rs. 11,000 crore. The issue also saw very strong demand amounting to Rs. 8,500 crore from domestic institutional investors.The QIP will result in the issue of approximately 52.21 crore new shares (at the rate of Rs. 287.25 apiece), which will lead to a dilution of 6.05 percent. Post the dilution, government’s stake in the bank will be at 57.07 percent. Post-issue, the capital to risk-weighted assets of the bank will be at 13.64 percent and CET 1 at 10.20 percent.

Indian Girl Sahithi Pingali To Get Planet Named After Her

Sahithi Pingali, a twelfth grader from Bengaluru will get a minor planet in Milky Way named after her as a reward for developing an integrated mobile phone app and lake monitoring kit to monitor pollution in water bodies. Sahithi Pingali had presented her paper titled “An Innovative Crowdsourcing Approach to Monitoring Freshwater Bodies” at the Intel International Science and Engineering Fair (ISEF).  For her paper, she got the second position and was presented three special awards in the Earth and Environment Sciences category. In addition, she has also won a gold medal at the International Sustainable World Engineering Energy Environment Project (ISWEEEP) for her research work on Varthur lake.

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