Daily Current Affairs 28th November, 2017

Daily Current Affairs 28 November 2017 for Banking/Insurance/SSC and other related exams.

NATIONAL NEWS

Made-in-India bot ‘Mitra’ greets PM Modi, Ivanka at GES

‘Mitra’, a made-in-India robot developed by Bengaluru-based Invento Robotics, declared the start of the Global Entrepreneurship Summit in Hyderabad today (28th Nov). Prime Minister Narendra Modi and US First daughter Ivanka Trump inaugurated the event by pressing a button on the bot following which it announced the start of the event and welcomed them.

First edition of INSPIRE kicked off in Jaipur

The first edition of the International Symposium to Promote Innovation & Research in Energy Efficiency (INSPIRE 2017) was kicked off in Jaipur. The five-day symposium is being organized by Energy Efficiency Services Limited (EESL) in partnership with The World Bank, and Alliance for an Energy Efficient Economy (AEEE).

• INSPIRE 2017 is an International Conference that brings together various stakeholders such as policy makers, innovators, financiers, influencers to showcase best practices in the sector.

U.S.-India Business Council unveils mentorship program for women entrepreneurs

The U.S.-India Business Council (USIBC) announced a collaborative initiative titled “Women for Women Innovators, Social Leaders & Entrepreneurs (WISE)” during USIBC’s Road to GES event, “Creating the Foundations of Innovation.”

• WISE will work with key women leaders to offer leadership, mentoring, and development opportunities for women entrepreneurs and innovators in an effort to increase women’s participation in growing India’s economy.

Russia to help India set up National Crisis Management Centre

In a meeting, it was agreed that Russia will assist India to set up a national crisis management centre in the country to handle disaster and other emergency situations. 

• Both sides agreed that EMERCOM of Russia would cooperate with India in the establishment of the National Crisis Management Centre (NCMC) in India.

INTERNATIONAL NEWS

India pledges $2.87m to strengthen public transport in Afghanistan

India has pledged to contribute about USD 2.87 million to Afghanistan in its latest financial assistance to the neighbouring country. The assistance will be used to repair around 350 public buses in the country.

$540mn for developing nations to eliminate climate-warming chemicals

Developing countries will receive $540 million to continue their work in phasing out ozone-depleting chemicals, according to UN Environment Programme (UNEP).

• The funds will be provided by developed countries for three years starting from 2018 through the Multilateral Fund for the Implementation of the Montreal Protocol, which has disbursed over $3.7 billion since 1991 to support developing countries to phase out chemicals that destroy the ozone layer.

BANKING & FINANCE

Asian Development Bank to provide $20 billion loan to India over five years

Asian Development Bank (ADB) will raise annual funding to India to up to $4 billion from existing $2.7 billion, from next year. The loans up to $4 billion will be provided on annual basis including non-sovereign or private debt during 2018-22.

• In this, annual sovereign funding will increase from $2 billion to $3 billion while private sector funding would be doubled to $1 billion totaling to $4 billion per year.

Arun Jaitley launches Paytm Payments Bank

A new Payments Bank ‘Paytm Payments Bank’ was formally launched at the hands of the Union Finance Minister Arun Jaitley in New Delhi.

• It is India’s only mobile first bank providing zero balance accounts and zero digital transaction charges
• Currently, India has four Payments Bank including Paytm Payments Bank. The other three operational ones are Airtel Payments Bank, India Post Payments Bank and Fino Payments Bank.

IndiaFirst Life introduces first-ever micro-insurance plan ‘insurance khata’

IndiaFirst Life Insurance (IndiaFirst Life) has launched an unique micro-insurance plan ‘insurance khata’ targeted at those in the informal sector and agricultural labourers with seasonal incomes.

ECONOMY

DBS Bank lowers India’s FY18 GDP growth to 6.6%c

Singapore’s DBS Bank lowered India’s GDP growth forecast for the current fiscal to 6.6 per cent from the previous 6.8 per cent, citing that businesses were “still adjusting” to the new GST regime and there were “limited room” for fiscal support.

• The bank, however, expects that the Indian economy will recover in fiscal 2019 and achieve a growth rate of 7.2 per cent.

BUSINESS

ICICI Prudential Life – First Life Insurer to Implement e-NACH

ICICI Prudential Life Insurance Company Limited (ICICI Pru Life) announced that, it has implemented the Electronic – National Automated Clearing House (e-NACH) service of the National Payment Corporation of India. With this it has become the first life insurance company in India to offer this service to its customers.

• The e-NACH mandate service is a digital registration process wherein a customer issues a mandate to the bank for his/her account to be debited at pre-determined frequencies. e-NACH service is the most modern and paperless form for making regular payments.

Amazon India to empower women entrepreneurs with the launch of ‘Amazon Saheli’

Amazon India announced the launch of Amazon Saheli, a new pioneering program aimed at empowering and enabling women entrepreneurs across the country to sell their products on the Amazon.in marketplace.

In collaboration with notable organisations that work to encourage women entrepreneurship, the program is in line with Amazon India’s vision to transform the way India sells.

SPORTS

Punjab to get world-class football academy

UK’s premier Southhall Football Club will jointly set up an international level football academy with Cordia Institutes at its campus in Punjab. Cordia Institutes Chairman told that the objective was to build a world class academy with facilities comparable to the very best in the world.

• The academy is proposed to be set up at Sanghol in Fatehgarh Sahib district.

Indian Sports Honours: Srikanth, Sindhu win top awards

The national sports icons and celebrities came together to honour the sports personalities of the country in the inaugural edition of Indian Sports Honours 2017 held in Mumbai.

• Sportsman and woman of the year for individual sports – Indian shuttlers Srikanth Kidambi and PV Sindhu respectively
• Sportsman and woman of the year in the team sports – off-spinner R Ashwin in men’s and Mithali Raj respectively
• Inspirational Honour – Tennis player Sania Mirza
• Transformational Contribution to Sports award – Olympic champion Abhinav Bindra 
• Team of the Year – The Indian Women’s Cricket Team

Indian Sports Honours is an initiative partnered by India skipper Virat Kohli and Sanjiv Goenka, in line with their vision to support the development of Indian sports.

APPOINTMENTS

Kharola appointed Air India CMD

The government appointed IAS officer Pradeep Singh Kharola as the Chairman and Managing Director (CMD) of Air India. Kharola is an IAS officer of the Karnataka cadre of 1985.

IAS officer B.N. Sharma appointed Chairman, National Anti-profiteering Authority

Following the Union Cabinet’s approval for the creation of the National Anti-profiteering Authority under the Goods and Services Tax (GST) Act, the Centre appointed senior IAS officer B.N. Sharma as the first chairman of the apex body.

Kenya President Uhuru Kenyatta sworn in for 2nd term

Uhuru Kenyatta, the 55-year-old son of the country’s founding President, won a second five-year term as President, defeating veteran opposition leader and longtime rival Raila Odinga in a tense contest.

AWARDS

President of India confers 3rd ICCR Distinguished Indologist award on Professor Hiroshi Marui

The President of India, Shri Ram Nath Kovind, conferred the 3rd ICCR Distinguished Indologist Award on Professor Hiroshi Marui of Japan.

•  Professor Marui has spent over 40 years working on Indian philosophy and Buddhist Studies. As President of the Japanese Association of Indian and Buddhist Studies, he has made a significant contribution to Indology in Japan.

OBITUARY

Veteran Malayalam actress T. Vasanthi passes away

Popular stage, Malayalam TV and film actress Thodupuzha Vasanthi has passed away at 65.

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