Daily Current Affairs: February 02, 2017

Current Affairs February 2, 2017

Banks to issue Electoral Bonds to enable donations to political parties

In a significant step to cleanse the system of funding of political parties, Finance Minister Arun Jaitely announced that donations to political parties can soon be made by purchasing electoral bonds from authorized banks.

  • A Scheme will be framed in this regard soon.
  • Donor could purchase bonds from authorised banks against cheque and digital payments only.

India signs Financing Agreement with World Bank for USD 201.50 Million

Aiming to enhance quality and improve efficiency of the Engineering Education System, a Financing Agreement for IDA credit of USD 201.50 Million was signed with World Bank for the ‘Third Technical Education Quality Improvement Programme’ (TEQIP III).

RBI permits NRIs access to ETCD market

RBI has allowed NRIs access to the exchange traded currency derivatives (ETCD) market to hedge currency risk arising out of their investments in India, a move aimed at providing them additional heding options.

NABARD sanctions Rs 157 crore loan to Haryana for water project

National Bank for Agriculture and Rural Development (NABARD) has sanctioned Rs 157 crore loan to the Haryana government for implementation of a project for augmentation of drinking water supply scheme in 84 villages of districts Palwal and Faridabad.

HSBC predicts India’s GDP growth at 7.1% in 2017-18

GAAR, POEM to come into effect from April 1: Government

General Anti-Avoidance Rules (GAAR) seeks to prevent companies from routing transactions through other countries to avoid taxes while Place of Effective Management (POEM) requires foreign firms to pay taxes in India if the effective control of business lies within the country.

  • Government announced that both GAAR and POEM will be implemented from April 1, 2017.

India and Italy Sign an MOU for Technical Cooperation in Rail Sector Especially on Safety Related Subjects

Ministry of Railways and Ferrovie Dello Stato Italiane Group (FS Group) a Government Company of Italy managing the Italian railway sector have signed an MoU for technical cooperation in rail sector especially in the areas safety in train operations.

India, Sri Lanka signs MoU to construct new multi-ethnic tri-lingual secondary school

India and Sri Lanka signed a MoU to construct a new multi-ethnic tri-lingual secondary school in Polonnaruwa District of Sri Lanka.

Amitabh Kant launches “India Innovation Index”, a joint initiative of NITI Aayog, DIPP and CII

To make India an innovation-driven economy, NITI Aayog, Department of Industrial Policy & Promotion (DIPP) and Confederation of Indian Industry (CII) together launched a mega initiative “India Innovation Index” that will rank states on Innovations through country’s first online innovation index portal that will capture data on innovation from all Indian states on innovation and regularly update it in real time.

Japan to provide technical training to 40K Indians in 10 years

Japan would skill 40,000 technical people in 10 years by collaborating with engineering colleges and other institutions.

Govt to launch TIES to fund export infrastructure

A new scheme namely, Trade Infrastructure for Export Scheme (TIES) will be launched in 2017-18 to create infrastructure for exports, a move aimed at reducing transaction costs for traders.

Mobile blood collection and transportation starts in Tripura

To improve the standard of healthcare and services and boost the blood collection mechanism, the Tripura government with financial help from the National Health Mission, has launched mobile blood collection and transportation service.

Centre approves investment of Rs 1,350 crore to Andhra Pradesh under AMRUT

The Centre has approved an investment of Rs 1,350 crore to Andhra Pradesh for improvement of basic urban infrastructure under the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) over the next three fiscals.

Assam government to set up ‘Anomaly Committee’ for implementation of 7th pay commission

Assam government has decided to set up Anomaly Committee to address the grivances of the employees regarding implementation of 7th Pay Commission.

LIQVD ASIA launches online exhibition portal-ExFirst.com

LIQVD ASIA, a digital marketing agency, launched India’s First Ever Online Exhibition gateway – ExFirst.com in collaboration with iKarmik.com. It will be an open platform where an exhibition from any industry can be conducted by any organization.

Tokyo 2020 medals to be made from “recycled” mobile phones

Organizers of Tokyo 2020 want their Games to be remembered for being nature-friendly, and keeping that in mind, the medals are going to made from recycled mobile phones. The move is not only aimed at promoting sustainability, but also at saving costs.

  • The Japanese public have been asked to donate unwanted mobile phones and other electronic items to help make 5,000 medals.

Anushka Sharma joins Amitabh Bachchan, chosen as brand ambassador of Swachh Bharat Abhiyaan

Anushka Sharma has been chosen to be the face of PM Modi’s initiative, the Swach Bharat Abhiyaan along with Mr Amitabh Bachchan for the same. She is the female ambassador of this massive country wide campaign, and has been picked for her popularity with youth across rural and urban India, particularly women.

Poetry anthology on capital cities edited by Indian poet-diplomat launched in London

CAPITALS, a poetry anthology on the capital cities of the world edited by poet-diplomat Abhay K. was launched at SOAS, University of London.

India beat England, won T20 International series by 2-1

Virat Kohli remains top T20 batsman, India rise to second on ICC rankings

Virat Kohli maintained his top spot in the latest ICC rankings of T20 batsmen while India have gained a spot by virtue of their series win against England to climb to the second spot in the team rankings.

Shuttler Lakshya Sen clinches top rank in World junior ranking

Young shuttler Lakshya Sen from Uttarakhand achieved the World No 1 ranking in the latest BWF World junior ranking.

India beat Pakistan to top pool in Asian Squash

Indian boys came up with a fabulous display, beating arch rival Pakistan to top Pool A in the Asian Junior Team Squash Championship in Hong Kong

Neeti Mohan collaborates with United Nations for women empowerment

Noted singer Neeti Mohan has become the first Indian female singer to collaborate with UN for women empowerment.

  • She has joined the ranks of Ashton Kutcher, Nicholas Cage, Demi Moore, Ashley Judd, Gillian Anderson for United Nations Voluntary Trust Fund project titled “Music To Inspire – Artists UNited Against Human Trafficking”.
  • She has composed Udne De as a tribute to all the women and in support of equality for all as a part of this project.

SAARC programming committee meeting concludes in Kathmandu

The two-day meeting of SAARC Programming Committee concluded in Kathmandu, Nepal. This was the first senior level meeting of Association since postponement of 19th SAARC Summit in November last year.

  • The Summit was postponed after four nations Afghanistan, Bhutan, Bangladesh and India requested for it following escalation of tension between India and Pakistan.

Tesla Unveils World’s Largest Battery Storage Plant to Reduce Reliance on Fossil Fuels

In an effort to reduce the reliance on fossil fuels, Tesla and Southern California Edison have unveiled a massive battery storage facility at the utility’s Mira Loma substation in Ontario, California.

Kuwait imposes visa ban on five Muslim-majority nations

The Kuwaiti Government has asked would-be migrants from the five banned nations not to apply for visas, as Kuwait City is worried about the possible migration of radical Islamic terrorists.

  • The five countries include Syria, Iraq, Iran, Pakistan and Afghanistan.

Former England and Chelsea midfield star Frank Lampard retires at 38


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