Daily Current Affairs 22nd November, 2017

Daily Current Affairs 22 November 2017 for Banking/Insurance/SSC and other related exams.


Cabinet approves establishment of 15th Finance Commission

The Cabinet approved the setting up of the 15th Finance Commission which will assess the tax resources of the nation and suggest a formula for their devolution among states.

  • The recommendations of the Finance Commission operate every five years. The previous recommendations were implemented from April 1, 2015 and will go on until March 31, 2020.
  • This Finance Commission comes under Article 280 of the Constitution.

Cabinet expands women welfare schemes, introduces ‘Mahila Shakti Kendra’

The Cabinet Committee on Economic Affairs gave its approval for the expansion of schemes of the Ministry of Women and Child Development under the umbrella scheme “Mission for Protection and Empowerment for Women” for a period 2017-18 to 2019-20.

  • The CCEA has also given approval to the new scheme called ‘Mahila Shakti Kendra’, which will empower rural women through community participation to create an environment in which they realise their full potential.

Cabinet approves India’s membership for European Bank for Reconstruction and Development

The Union Cabinet approved India’s membership for European Bank for Reconstruction and Development (EBRD), a move which will help it obtain funding in various areas including services and manufacturing. 

  • The membership will increase the scope of cooperation between India and the multilateral institution through co-financing opportunities in manufacturing, services.

India sets up panel to draft new Income Tax Act

The government today constituted a task force for redrafting the 50-year old income tax law in sync with the economic needs of the country.

  • The six-member task force will have Arbind Modi, CBDT Member (Legislation) as the Convener.

India successfully tests world’s fastest supersonic ‘BrahMos’ missile

India has created history after it successfully flight-tested the world’s fastest supersonic cruise missile ‘BrahMos’ from the Indian Air Forces (IAF) front-line fighter aircraft Sukhoi-30MKI against a sea based target in the Bay of Bengal.

  • The successful maiden test firing of BrahMos Air Launched Cruise Missile (ALCM) from Su-30MKI will significantly bolster the IAFs air combat operations capability from stand-off ranges. 
  • The air version of BrahMos missile is a 2.5 tonne supersonic air-to-surface cruise missile with range of more than 400 km.
  • The BrahMos is now capable of being launched from land, sea and air, completing the tactical cruise missile triad for India. Earlier, BrahMos could only be fired from ships or ground-based launchers.
  • BrahMos is a joint venture between the Defence Research and Development Organisation (DRDO) of India and NPOM of Russia.

‘Dishari’ app launched by Rajasthan govt to provide free study material for competitive exams

Rajasthan government has launched ‘Dishari’ — an educational mobile application that provides free study materials for youths preparing for competitive examinations.

  • The app features interactive quizzes with questions related to mathematics, general knowledge, current affairs, computers, reasoning and economics.
  • The app will also provide latest updates and job alerts.

India’s first mission to study the Sun scheduled for 2019: ISRO

India is all set for the take-off of its maiden mission to the Sun by the year 2019. Indian Space Research Organisation (ISRO) chairman AS Kiran Kumar said, “Aditya-L1, India’s maiden mission to the Sun, will be launched in 2019”.

UN asked to declare 2018 as International Year of Millets

Union Agriculture Minister Radha Mohan Singh has sent a proposal to United Nations for declaring 2018 as “International Year of Millets” to raise awareness among consumers, policy makers, industry and research sector.

  • Popularizing millets would benefit future generations of farmers as well as consumers, he said in the letter dated November 10.


Brics Bank approves $400 million loans for India, Russia

The Shanghai-based Brics New Development Bank (NDB) has approved two infrastructure and sustainable development projects in India and Russia with loans of $400 million.

  • The loans will be used to rehabilitate the Indira Gandhi canal system in India and to build a toll transport corridor connecting Ufa city centre to the M-5 federal highway in Russia.


Basel to jointly host Badminton, Para Badminton Worlds

Basel, Switzerland will become the first city to jointly host the Badminton and Para Badminton World Championships after it was awarded the 2019 edition of the Para event.


Robert Mugabe Resigns as Zimbabwe’s President, Ending 37-Year Rule

Robert Mugabe, who ruled Zimbabwe since independence in 1980 and once proclaimed that “only God will remove me,” resigned as president shortly after lawmakers began impeachment proceedings against him.

Zimbabwe’s former VP to take oath as new President

Zimbabwe’s former Vice President Emmerson Mnangagwa returned to the country and will be sworn in as President, succeeding friend-turned-foe Robert Mugabe.


Assam’s legendary actor Biju Phukan passes away

Assam’s prominent film actor Biju Phukan has passed away.

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