Monday, 9 October 2017

Daily Update On Current Affairs - October 08, 2017

current affairs

Here's your daily summary of Current Affairs.

Foundation Stone laid for new bridge in Dwaraka  

Prime Minister Narendra Modi laid the foundation stone of a four-lane cable-stayed bridge between Okha and Beyt Dwarka. The bridge is a link between old and new Dwarka. The 2.32 km bridge, including 900 metres of central double span cable-stayed portion, will be constructed at a cost of Rs. 962.43 crore. The four-lane 27.20-metre wide bridge will have 2.50 metre wide footpaths on each side. Solar panels installed on the roof of footpath will produce 1 MW power for street lights on the bridge. Vijaybhai R. Rupani is the present CM of Gujarat. Om Prakash Kohli is the present Governor of Gujarat.

Magicbricks announces India’s first online property bidding platform
  
Magicbricks announced the launch of India's first online bidding platform for residential and commercial properties and tied-up with developer M3M for the inaugural 'My Bid, My Home' under which consumers can bid for ready-to-move-in residential properties in Gurugram. Magicbricks has been recently awarded the Standardisation, Testing and Quality Certification (STQC) by the Ministry of Communications and Information Technology, making it the country's only real estate portal eligible for a bidding platform for properties. Sudhir Pai is the CEO of Magicbricks. Pankaj Bansal is the Director of M3M Group.
  
Indian Air Force celebrates its 85 Anniversary on 8th October 2017      

The Indian Air Force (IAF) is celebrating its 85th anniversary on 08th October 2017. The celebrations are marked by a stellar show in the skies by various aircraft at the Hindon Air Force Station in Ghaziabad. President Ram Nath Kovind has greeted the Indian Air Force on its 85th Anniversary. Defence Ministry stated that the air display has commenced with flag bearing skydivers of famous AKASH GANGA Team dropping out of AN-32 aircraft in their colourful canopies. The Indian Air Force was officially established on 8th October 1932. Its first flight took off on 01st April 1933. Birender Singh Dhanoa is present Air Chief Marshal of Indian Air Force. He assumed the post after Air Chief Marshal Arup Raha retired.

GST Council Reduces Tax on 27 items of common use
   
In a major relief to common man, small traders and exporters, the GST Council has reduced tax rates on 27 items and allowed the filing of returns on the quarterly basis. The GST Council meeting held under the Chairmanship of Union Finance Minister Arun Jaitley in New Delhi. The council has decided to reduce the GST rates on dried mangoes, Khakhra, plain chapatis, unbranded Namkeen, unbranded ayurvedic medicines and paper wastes to 5 percent from 12 percent.
  
Recommendations of Uday Kotak Committee on Corporate Governance   
    
The following are the major recommendations of the Uday Kotak Committee on Corporate Governance:           
1) Roles of Chairman and Managing Director of listed companies should be separated and the Chairmanship should be restricted only to non-executive directors         
2) The minimum number of Directors on the Board of a listed company should be at least six, out of which one should be a woman.
3) At least five board meetings should be held in a year instead of the current minimum of four         
4) At least half of the Directors on the Board must be independent directors      
5) All directors must attend at least half of the Board meetings    
6) Top 100 companies by market capitalization should webcast shareholder meetings  
7) Listed companies must have a cash flow statement every six months
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