Current Affairs Today – July 10 2017

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Current Affairs July 10 2017

INDIAN AFFAIRS

MoHUA is the new name for urban development & housing ministry
The government has merged the ministries of urban development, and housing and urban poverty alleviation on 7th July– involved in policy making in urban areas – to form the Ministry of Housing and Urban Affairs.This is third time the ministries have been merged.
i. Venkaiah Naidu heads the ministries of urban development, and housing and urban poverty alleviation
ii. In 1952, they were one ministry which was known as the Ministry of Works, Housing and Supply. They were demerged in 1999, merged the next year and bifurcated again in
iii. With this merger, the government now has 51 In 2004, the number was 42. The first government in independent India had just 17 ministries.
iv. Government proposes to increase urban reform incentive fund, to Rs 3000 crores.

Centre clears decks for Dhirubhai Ambani Aerospace Park at Mihan
The centre has cleared the decks for the Reliance Aerostructure proposal for the development of the Dhirubhai Ambani Aerospace Park with related infrastructure facilities and services at Mihan SEZ (Nagpur) on 10th of July 2017.
Key Points:
i. It has been cleared by the Board of Approval (BoA) for special economic zone (SEZ).Centre clears decks for Dhirubhai Ambani Aerospace Park at Mihan
ii. It comes under the Ministry of Commerce.
iii. The Dhirubhai Ambani Aerospace Park (DAAP)at Mihan spread over 289 acres and will become the largest greenfield aerospace park in the country.
iv. In the first phase, development will be spread over 104 acres and the second phase will cover an additional area of 185 acres.
v. The construction at the aerospace park is expected to start by end of the month with production starting in the first quarter of 2018.
vi. The aerospace park with an estimated investment by Reliance of Rs 6,500 crore is expected to generate more than 10,000 skilled jobs.
vii. The aerospace park’s business is expected to exceed Rs 200,000 crore over the next 30 years.
viii. The projects in the first phase will include production of aircraft, electronic warfare systems, radars, unmanned aerial vehicles (UAVs), maintenance repair and overhaul for commercial aircraft and complete eco-system of tiered suppliers to support these large projects

Ministry of Health signs MoU with Government of West Bengal to set up Centre of Excellence in Transfusion Medicine
Ministry of Health and Family Welfare has signed a Memorandum of Understanding (MoU) with Government of West Bengal to set up a state-of-the-art Centre of Excellence in Transfusion Medicine on 10th of July 2017.
Key Points:
i. The Centre of Excellence in Transfusion Medicine will be set up in Kolkata.
ii. The initiative helps in strengthening the blood transfusion services in the State and the surrounding region.
iii. Government of India has approved an outlay of approximately Rs.200 Crores towards equipment, manpower and running costs.
iv .The land for this initiative will be provided free of cost by the State government.
v. A Central Sector Scheme of the Ministry of Health and Family Welfare to set up state-of-the-art Centres of Excellence in transfusion medicine in the four metro cities of Delhi, Mumbai, Chennai and Kolkata.
vi. Facilities for screening of collected blood by NAT would be made available at these centres and also extended to the other blood banks of the State.
vii. The MoU for setting up the Metro Blood Bank in Chennai has already been signed on 14th June 2016.
viii. A recently concluded assessment of licensed Blood Banks of India revealed that the average blood donation rate in India is 0.8, which is lower than many high income countries.
ix. According to Union Minister of Health and Family Welfare data the first phase, wherein these facilities are to come up in Chennai and Kolkata.

Govt to organise global food fair in November 2017 to boost food sector
The government is going to organise a global food fair in November 2017. The Food Fair will be organized to provide a platform to Indian farmers and manufacturers so that they can showcase their products and explore partnerships with foreign companies.
Key Points:
i. The three-day World Food India 2017 is being organised on November 3-5 by the Food Processing Ministry.
ii. The industry body CII will be an event partner.
Govt to organise global food fair in November 2017 to boost food sectoriii .This event will provide a big boost to food processing sector as well as farmer’s income.
iv. It is for the first time that such platform is being provided where farmers to manufacturers to retailers will showcase their products and innovations.
v. Through this platform the farmers can explore business opportunities with foreign companies.
vi. Foreign food companies would also explore how and with whom they want to partner in India.
vii. The World Food India is aimed at creating India a Global Food Factory and Global Food Retail Market.
About World Food India
World Food India is an international level fair.The event will have participation from those who are involved in food sector from farm to fork.
♦ The food processing sector received USD 5.76 billion in FDI equity inflows from 2010-11 to 2015-16.
♦  In 2016-17 (April-December), the food processing sector in the country has received USD 663.23 million worth of FDI.
♦ The government had last year allowed 100 per cent FDI for marketing, including through e-commerce, of food products manufactured and produced in India.

INTERNATIONAL AFFAIRS

New drugs needed against hard-to-treat gonorrhoea: UN
According to the UN’s health agency New drugs is needed to treat against gonorrhoea. It is a sexually-transmitted disease threatening and out of control as it develops resistance to existing antibiotics.
Key Points:
i. According to the World Health Organization (WHO) statement nearly 80 million people are infected with the disease every year.
ii. It can be passed directly from a pregnant woman to her baby and cause blindness in the unborn child.
iii. The WHO’s director of antimicrobial resistance, Marc Sprenger said to control gonorrhoea, doctors, need new tools and systems for better prevention, treatment, earlier diagnosis.
iv. It can cause painful pelvic inflammation in women, and infertility in both genders.
v. According to the WHO Gonorrhoea first emerged in the 1970s in Asia, spreading to the rest of the world during the early 1980s.
vi. In extreme cases, the bacteria can spread in the blood to cause life-threatening infections in other parts of the body.
vii. A third generation of drugs called cephalosporins orally-administered cefixime and injectable ceftriaxone then came into use.
viii. The agency last year updated its treatment recommendations, urging doctors to use two antibiotics combined: ceftriaxone and azithromycin.

UK launches ‘Grand Trunk Road’ project to mark 70th anniversary of India’s partition
The British government has launched a new project the ‘Grand Trunk Road’ to mark the 70th anniversary of India’s Partition in August 1947.
Key Points:
i. The UK-wide project is launched to bring British Asians of all faiths and backgrounds together.
ii. It has launched this week to reflect their shared history through 11 special events funded by the Department for Communities and Local Government.
iii. The Grand Trunk Roadhas tied together India and Pakistan and their diverse cultures and faiths for millennia.
iv .This project will highlight the rich history that British Sikhs, Muslims and Hindus share.UK launches ‘Grand Trunk Road’ project to mark 70th anniversary of India’s partition
v. The aim is for the participants to remember lives lost and learn about the history of partition.
vi. Volunteers from Muslim, Sikh and Hindu communities will get together to stage events, including a play written.
vii. These plays are produced and performed by a group of Hindus, Muslims and Sikhs to tell the story of the 1948 London Olympics.
viii. It is the first time India and Pakistan met as competing nations in the country from which they had just gained independence.
ix. A focus on lived experience and testimony will help to put in context the impact of this division in India, Pakistan, Bangladesh and in Britain itself.
About UK
♦ Capital: London
♦ Currency: Pound Sterling

BANKING & FINANCE

RBI amends order on bankruptcy action on 12 large NPAs
The Reserve Bank of India (RBI) has amended its earlier order asking banks to initiate bankruptcy proceedings against 12 companies which have outstanding loans amounting to over Rs 5,000 crore as on March 2016.
i. The Gujarat High Court asked the RBI to remove the stipulation on its order last month that the 12 non-performing assets (NPAs), would be granted priority at the National Company Law Tribunal.
ii. Essar Steel, one of the 12 large NPAs identified by the RBI, had approached the Gujarat High Court for the RBI proceedings
iii. The IAC (Internal Advisory Committee) noted that under the recommended criterion 12 accounts totaling about 25 per cent of the current gross NPAs of the banking system would qualify for immediate reference under IBC (Insolvency and Bankruptcy Code 2016) .
iv. The IAC has been constituted under the Banking Regulation (Amendment) Ordinance 2017 passed by the government in May that allowed more power to the RBI to tackle the NPAs issue. 

Govt launches next gold bond tranche from July 10, 2017
The next tranche of sovereign gold bond (SGB) scheme will be launched by Government on July 10, 2017. This time is providing a 2.5 per cent annual interest to investors.
i. In previous this was launched in November 2015 to rectify the demand for physical gold and shift a part of the domestic savings, used for the purchase of gold, into financial savings.
ii. The bonds will be available in banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices and recognized stock exchanges namely National Stock Exchange of India Limited(NSE) and Bombay Stock Exchange(BSE) and bond Finance Ministry announces sixth tranche of gold bondsapplications will be accepted from July 10 to July 14 ,2017.
iii. Reserve Bank India will be issued the gold bonds to eligible applicants on July 28.The Bonds will not be eligible for sale to resident Indian entities including individuals, HUFs, Trusts, Universities and Charitable Institutions.
iv. The tenor of the bonds will be for a period of eight years, exit option is available from 5th year to be exercised on the interest payment dates.
v. The minimum investment will be 1 gram of gold. The maximum limit can be subscribed up to 500 grams per person per fiscal year (April-March). A self-declaration to this effect will be obtained.
vi. In case of joint holding, the investment limit of 500 gram will be applied to the first applicant only.
vii. The price of Bond will be fixed in Indian Rupees on the basis price of gold of 999 purity published by the India Bullion and Jewellers Association Limited for the week (Monday to Friday). The issue price of the Gold bonds will be ₹ 50 per gram less than the nominal value.
viii. Payment options : – cash payment (up to a maximum of Rs 20,000) or demand draft or cheque or electronic banking.
ix. As per the provision of Income Tax Act, 1961 (43 of 1961) , interest on Gold Bonds will be taxable. The capital gains tax arising on redemption of SGB to an individual has been exempted. The indexation benefits will be provided to long term capital gains arising to any person on the transfer of bond.

FM launches a new tax payer service module ‘Aaykar Setu’
A new tax payer service module ‘Aaykar Setu’, was launched by the Union Finance Minister, Shri Arun Jaitley on 10th of July 2017.
Key Points:
i. It has been launched to enhance mobile access experience and a mobile responsive android version was also released along with the desktop version.
ii. The module compiles various tax tools, live chat facility, dynamic updates and important links to various processes within the Income Tax Department in a single module.
iii .This e-initiative would help in reducing physical interface between assesses and tax assessing authorities.
iv .It would also help in minimizing the chances of any tax harassment.
v .It will bring a new step by the Income Tax Department (ITD) to directly communicate with the taxpayers.
vi. It will also help in giving multiple informative and useful tax services and aimed at providing tax information at their fingertips.
vii. Those tax payers who want to receive SMS alerts will have to register their mobile numbers in the Aaykar Setu module.
viii. This new schemes and e-initiatives  will help to educate the taxpayers and deliver tax payer services in an effective manner.
ix. The tax payers will also be able to receive regular updates regarding important tax dates, forms and notifications on mobile numbers registered with the ITD.

BUSINESS

India to import crude oil from US for first time
India will be going to import crude oil from US and the shipment is expected to touch Indian shores in October for the first time in history. It has been announced on 10th of July 2017.
Key Points:
i. IOC Director (Finance) A K Sharma has said that India has bought 2 million barrels of crude oil from North America comprising 1.6 million barrels of US Mars crude and 400,000 barrels of Western Canadian Select.
ii. US Mars is a heavy, high-sulphur grade which will be processed at IOC’s newest refinery at Paradip in Odisha.IOC
iii. According to ministry it has been said that Even after including the shipping cost, buying US crude proved to be very cost competitive to India.
iv. Sharma also added that the company will buy more crude from the US if the market conditions remain favourable for such purchases.
v. IOC had to take special permission from the shipping ministry for importing crude from the US.
vi. Indian government policy provides for purchases of crude oil to be made on condition that the shipping will be done by the Indian carriers. The buyer arranging for ships to ferry the oil.
viiIOC is looking at five to six grades of US crude, including Mars crude, for future purchases.

Import of aircrafts, parts on lease exempt from GST
The government has exempted the import of aircraft, aircraft engines and its parts on lease from the Goods and Services Tax (GST).
Key Points:
i. The finance ministry has notified on 8th of July that airlines would not have to pay GST on the import of aircraft and its parts if GST was paid on their lease.
ii. Airlines are awaiting a formal clarification on several other areas of concerns such as input tax credit and the movement of spares from one part of the country to another.
iii. The aviation industry had been asking for relief as it was also facing a dual levy of 5% at the time of import and another 5% at the time of payment of lease rent.
iv. Its concerns were raised by the civil aviation ministry before the revenue department on several occasions.

AWARDS & RECOGNITIONS

Mother Teresa’s Blue-Bordered Sari declared an Intellectual Property
Mother Terasa’s blue border sari which worn by nuns of Missionaries of Charity was recognised as Intellectual Property of Missionaries of Charity on September 4, 2016, the day the Mother Teresa was canonized.Mother Teresa's Blue-Bordered Sari declared an Intellectual Property
i. The Trade Marks Registry, Government of India, has granted the registration of the trade mark for that pattern of the blue border of sari.
ii. After a series of strict legal proceedings, it was granted. This is the first time that a uniform has been made intellectual property.

Sindhu bags ‘Sportsperson of the Year’ award
During the ‘Maruti Suzuki Sportsperson of the Year’ Charity Gala Awards Rio Olympics silver medallist P V Sindhu was bagged with the Sportsperson of the Year award on 8th of July 2017.
i. P Gopichand(Sindhu’s coach) received the Coach of the Year award and Sikh Milkha Singh was given the Living Legend of the Year award.
ii. Young India cricketer K L Rahul was awarded with Game changer of the Year award.
iii. The 2008 Beijing Olympics gold medallist Abhinav Bindra was given the Lifetime Achievement Award.

Danfoss India conferred with Golden Peacock environment management award
On July 10 ,2017 Climate and energy efficiency solutions company Danfoss India has been recognized with the ‘Golden Peacock Award’ for Environment Management.
i. During the 19th World Congress on Environment Management’ in the presence of Supreme Court Justice Kurien Joseph, the award was presented in Hyderabad.
ii. Ravichandran Purushothaman is a President of Danfoss India.

SCIENCE & TECHNOLOGY

MP CM Chouhan launches RSS website
The Madhya Chief Minister Shivraj Singh Chouhan has launched the RSS website on 10th of July 2017.
Key Points:
i. At a programmeorganized in Bhopal on 10th of July for the dedication of Rashtriya Swayamsevak Sangh’s Sewa Prabhag website “Sewagatha” has been launched.
ii. It will highlight the good work done by citizens and the information about it will encourage people.
iii. The website will energise and inspire people to do good work and people to come forward to serve others.Shivraj Singh Chouhan
iv. It will also strengthen their good values and open the way for positive environment in the society.
v. The CM also praised RSS vision of VasudhaivaKutumbakam (the whole world is one family).
vi. Rashtriya Swayamsevak Sangh is a nationalist organization with a huge heart.
vii. This organisation creates citizens who live for the society. Swayam sevaks dedicate themselves totally towards service to enlighten the society.
viii. Website creator Swapnil Parkhiya highlighted the technical aspects of the website. It is mobile friendly and can be shared on Facebook and Twitter.

SPORTS

Asian Athletics Championships 2017 Overview – India finish on top in medals tally
The 2017 Asian Athletics Championships was the 22nd edition of the Asian Athletics Championships. It was held from 6 to 9 July 2017 at the Kalinga Stadium in Bhubaneswar, India. Bhubaneswar was the third Indian city to host Asian Championships. Around 800 athletes from 45 countries attended the event.
i. This time India created history by topping medal tally at Asian Athletics.
ii. The mascot  of Championship was Olly, the Olive Ridley sea turtle.

RankNationGoldSilverBronzeTotal
1India1251229
2China87520
3Kazakhstan4228
4Iran4015
5Vietnam2204

Valtteri Bottas wins Austrian Grand Prix
Finnish driver Valtteri Bottas dominated the Austrian Grand Prix to take his second victory of the year ahead of Sebastian Vettel as Lewis Hamilton recovered to fourth.Valtteri Bottas wins Austrian Grand Prix
i. Valtteri Bottas drives Mercedes.The event took place in Baku , the capital and largest city of Azerbaijan
ii. Australia’s Daniel Ricciardo finished third behind Vettel, making it his fifth podium in a row.
iii. The 28-year-old Ricciardo’s victory in an incident-packed Azerbaijan Grand Prix last week before third places in Canada, Monaco and Spain, taking his career tally to 23 podiums.

OBITUARY

Veteran actress Sumita Sanyal passes away at the age of 71
Veteran actor Sumita Sanyal, who was well known artist in both Bengali and Hindi films, passed away at the age of 71 at Kolkatta on 9th July 2017.
i. She was born on October 9, 1945, as Manjula Sanyal in Darjeeling.She was married to film editor Subodh Roy.
ii. Sanyal was introduced in the movie, Khokhababur Pratyabartan which released in 1960.
iii. Sanyal acted in over 40 Bengali films and she was best known for her role in Bollywood flick Anand starring Amitabh Bachchan and Rajesh Khanna.

Former Indian Ambassador to the US Naresh Chandra passes away
Former Indian Ambassador to U.S., and Padma Vibhushan awardee,  Naresh Chandra (82) died at Manipal hospital at Dona Paula near Panaji on 9th July night.Former Indian Ambassador to the US Naresh Chandra passes away
i. He died due to multiple organ failure.
ii. Chandra, a bachelor, had served as the Cabinet Secretary from 1990-92 and was the Indian Ambassador to the US from 1996 to 2001.
iii. Naresh Chandra was conferred Padma Vibhushan in 2007.

Water expert Mohanakrishnan passed away
Veteran water expert and former Cauvery Technical Cell Chairman A. Mohanakrishnan died on 9th of July 2017.
Key Points:
i. Mohanakrishnan served as the Chairman of the Cauvery Technical Cell (CTC) since its formation in 1990 till December 2012.
ii. He was also an advisor for the Water Resources Department.
iii. He served under different Chief Ministers and offered advice on various water projects in Tamil Nadu.
iv. He has done graduation in civil engineering from Guindy College of Engineering of the 1948 batch.
v. Mohanakrishnan was associated with several dam projects in the 1950s and 1960s.
vi. He emerged as a topper in Public Services Commission examination.

BOOKS & AUTHORS

Crypto currency guru Amit Bhardwaj launches e-book
Amit Bhardwaj, the founder of Amaze Mining & Research Limited, has launched his third e-book ‘Cryptocurrency for Beginners ‘ in the series, after ‘Cryptocurrency Trading for Beginners’ and ‘Cryptocurrency Mining for Beginners’.
Crypto currency guru Amit Bhardwaj launches e-booki. ‘Cryptocurrency for Beginners ‘provide context and clarity on cryptocurrencies. Blockchain and cryptocurrencies are set to transform the world with their efficient solutions.
ii. This book make readers can realise that blockchain is just like the internet or a motorbike . The book empowers readers with requisite knowledge of the concept of blockchain.

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