Daily Current affairs - November 18th 2017 for all competitive exams
International rating agency Moody’s Investors Service has upgraded India’s sovereign bond rating for the first time in nearly 14 years.
- US-based rating agency Moody’s has upgraded India’s sovereign credit rating by a notch to ‘Baa2’ from Baa3 and changed the outlook to stable from positive. Moody’s has also raised India’s long-term foreign-currency bond ceiling to Baa1 from Baa2, and the long-term foreign-currency bank deposit ceiling to Baa2 from Baa3.
- The rating upgrade comes after a gap of 13 years – Moody’s had last upgraded India’s rating to ‘Baa3’ in 2004. In 2015, the rating outlook was changed to ‘positive’ from ‘stable’.
- A credit rating is an assessment of the creditworthiness of a borrower. Individuals, corporations and governments are assigned credit ratings — whoever wants to borrow money. Individuals are given ‘credit scores,’ while corporations and governments receive ‘credit ratings.’
- National governments, not countries, are assigned credit ratings by agencies like Standard & Poor, Moody’s and Fitch. Governments require ratings to borrow money. They are also given ratings on their worth as investment destinations. A country requests a credit rating agency to evaluate its economic and political environment and arrive at a rating. This is done to position itself as a destination for foreign direct investment.
Moody's Investors Service is a leading provider of credit ratings, research, and risk analysis. Moody's commitment and expertise contributes to transparent and integrated financial markets. The firm's ratings and analysis track debt covering more than 135 sovereign nations, approximately 11,000 corporate issuers, 21,000 public finance issuers, and 72,000 structured finance obligations. Moody's Investors Service is a subsidiary of Moody's Corporation.
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Ek Bharat-Shreshtha Bharat
Under ‘Ek Bharat-Shreshtha Bharat’ Yojana, Madhya Pradesh has been made partner of Manipur and Nagaland. The Higher Education Department of Madhya Pradesh has been made nodal department to implement the scheme.
- As part of this, Madhya Pradesh will participate in Sangai Mahotsav being organized in Manipur from November 21 to 30. Similarly, teams of Manipur and Nagaland will take part in Lok Rang and Bal Rang programmes to present their cultural programmes and to apprise people with their culture.
- Besides, translation work of Nagaland’s books has also been started in Madhya Pradesh to introduce people of the state with their activities and cultural heritage. Other activities are also being conducted in this regard.
“Ek Bharat Shreshtha Bharat” was announced by Hon’ble Prime Minister on 31st October, 2015 on the occasion of the 140th birth anniversary of Sardar Vallabhbhai Patel.
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SC to hear NRI plea on Aadhaar
The Supreme Court allowed a UAE-based professional to approach the Bench, expected to be set up to hear the petitions challenging the Aadhaar scheme, with his plea to exempt Non-Resident Indians from linking their bank accounts with Aadhaar.
- A Bench, led by Justice A.K. Sikri, took note of the plea by Femin Panikkassery Subramaniyan as the law allows only resident Indians to enrol for Aadhaar.
- Mr. Subramaniyan referred to the Prevention of Money-laundering, Second Amendment Rules, 2017, to submit that non-linking would lead to indefinite blocking of his bank accounts and he would be robbed of his hard-earned money for no fault of his.
The Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016 defines 'resident' as an individual “who has resided in India for a period or periods amounting in all to one hundred and eighty-two days or more in the twelve months immediately preceding the date of application for enrolment”.
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SC allows Bengal to amend plea on Aadhaar
The Supreme Court on Friday allowed a plea by the West Bengal government which had sought to amend its petition challenging the Centre’s move to make Aadhaar mandatory for receiving benefits of various social welfare schemes.
- A Bench comprising Justices A. K. Sikri and Ashok Bhushan asked the State to file its amended petition and said the matter would come up for hearing after two weeks.
- The apex court had on October 30 pulled up the West Bengal government while asking it how a State could challenge Parliament’s mandate and question the move to make Aadhaar mandatory for receiving benefits of social welfare schemes.
SC towards Nationwide ban on Furnace oil and pet coke
The Supreme Court has requested all States and Union Territories to move forward towards a nationwide ban on the use of pet coke and furnace oil to power up industries, in a bid to fight pollution.
- The Environment Bench of the Supreme Court had already ordered a ban on the industrial use of pet coke and furnace oil in the States of Uttar Pradesh, Haryana and Rajasthan on October 24. This ban specifically came after an Environment Pollution Control Authority Report recommended the ban on sale, distribution and use of furnace oil and pet coke in the National Capital Region (NCR).
- Automobile fuel — petrol and diesel — has 50 parts per million (PPM) of the highly dangerous sulphur. Comparatively, furnace oil has 15,000- 23,000 ppm sulphur and petcoke 69,000-74,000 ppm sulphur. They emit sulphur oxide and nitrogen oxide, which form particulate matter, tiny particles that can penetrate deep into the lungs.
- Petroleum coke is a by-product of oil refining cracking process
Censor board returns Padmavati
The Central Board of Film Certification (CBFC) has sent the Sanjay Leela Bhansali-directed Padmavati back to the makers as the application for the certification was “incomplete.”
- According to the CBFC, the movie, which has triggered protests by several Rajput groups, will be reviewed as per the set norms once it is sent back to the board.
The Central Board of Film Certification is a statutory censorship and classification body under the Ministry of Information and Broadcasting, Government of India
Founded: 1951
Headquarters: Mumbai
Agency executive: Pahlaj Nihalani (Chairman)
Parent agency: Ministry of Information and Broadcasting
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Namami Barak festival begins in Silchar
In Assam, the first ever Namami Barak festival begins at Police Parade ground in Silchar.
- Namami Barak is an attempt to pay tribute to the River Barak and to showcase of Barak’s potential & possibilities to emerge as a hub of trade and commerce.
- The cultural heritage of the valley together with its cuisine, fauna and flora, socio-economic and civic splendor will be showcased before the global audience during the festival.
- The event is being organised at 3 locations in Barak Valley also known as Southern Assam.
Aadi Mahotsav held in Delhi
It is a fortnight long tribal festival on the theme of ‘A Celebration of the Spirit of Tribal Culture, Cuisine and Commerce’. It is being held at Delhi.
- More than 750 tribal artisans and artisans from over 25 states are taking part in the festival. The Mahotsav will feature exhibition-cum-sale of tribal handicrafts, art, paintings, fabric, jewellery and much more. A special feature of the festival is tribal India cuisine, recreated and presented in delectable forms to suit urban tastes by special tribal chefs.
Shanghai Cooperation Organization meeting held in Russia
The Shanghai Cooperation Organization Meeting of the Ministers of Member States responsible for Foreign Economic and Foreign Trade was recently held in Russia.
- This is the first Ministerial Conference on Trade organized by the Shanghai Cooperation Organization after India became a full member of the Organization in June 2017.
The Shanghai Cooperation Organisation, also known as the Shanghai Pact, is a Eurasian political, economic, and military organisation which was founded in 2001 in Shanghai by the leaders of China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, and Uzbekistan. Apart from Uzbekistan, the other five countries have been a part of the Shanghai 5 since 1996. The cooperation was renamed to Shanghai Cooperation Organisation after Uzbekistan joined the organisation in 2001.
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India, France agrees to deepen security co-operation
India and France have agreed to deepen security co-operation, bilaterally and in the multilateral fora, and strengthen strong commitment to combating terrorism in all its forms and manifestations.
- Both countries have vowed to get rid of the menace of terrorism.
- Both countries have decided to further improve the defence and economic co-operation. Civil nuclear co-operation is an important pillar of the bilateral engagement.
France Capital
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Paris
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France Currency
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Euro, CFP Franc
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France President
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Emmanuel Macron
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Iraq launches assault on last IS-held town in country
The Iraq army said it launched an assault on the small Euphrates valley town of Rawa, the last in the country still held by the Islamic State group.
- The launch of the attack as the Syrian army battled for a second day to retake the town of Albu Kamal just across the border.
Iraq Capital
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Baghdad
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Iraq Currency
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Iraqi dinar
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Iraq Prime Minister
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Haider al-Abadi
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Saudi Arabia set to make new moves in chess
The winds of change blowing across Saudi Arabia can be felt in the sporting arena too. Next month, the country will have its first-ever sporting event in which no woman is required to wear a hijab (headscarf).
- The event is the World rapid and blitz chess championships, to be held in Riyadh from December 26 to 30. The world chess governing body, FIDE, reached an agreement with the organisers about the dress code, according to which there is no need for women to wear a hijab or an abaya (a robe-like dress).
- Instead, women can wear dark blue or black formal trousers and high-necked blouses.
Saudi Arabia Capital
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Riyadh
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Saudi Arabia Currency
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Saudi riyal
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Saudi Arabia King
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Salman
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China making fastest wind tunnel to test hypersonic weapons:
China is building the world’s fastest wind tunnel to simulate hypersonic flights of 12 kilometres per second as part of the country’s hypersonic weapons development program.
- The tunnel will be completed in 2020, and will allow China to conduct ground tests of hypersonic aircraft, which could travel from China to the US in under 14 minutes.
- Hypersonic aircraft are those that can reach speeds of Mach 5, which is five times the speed of sound.
- The tunnel would detonate mixtures of oxygen, hydrogen and nitrogen to generate aircraft-testing shockwaves.
Turkey withdraws from NATO drills:
Turkey withdrew troops from NATO military exercises after Turkish President Recep Tayyip Erdoğan and Turkey’s founding leader Mustafa Kemal Ataturk featured on an “enemy chart” during the drills.
- NATO’s Secretary General Jens Stoltenberg later issued an apology, claiming the incident was the result of an “individual’s actions” and did not reflect the alliance’s views.
The North Atlantic Treaty Organization also called the North Atlantic Alliance, is an intergovernmental military alliance between several North American and European states based on the North Atlantic Treaty that was signed on 4 April 1949.
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Indian scientists help detect black holes in space through gravitational waves:
Indian scientists were part of a multinational team which detected a gravitational wave from the lightest black hole merger.
- Gravitational-wave observations provide the most direct means of detecting black holes. A black hole is created when a star dies and the matter gets squeezed into a tiny space under a heavy force of gravity, trapping in the light.
- Though this is the sixth gravitational wave that has been detected in a span of two years
- Up until now, black holes with lighter mass had only been detected indirectly through electromagnetic radiation such as X-rays.
In Indian avatar, Uber mulls call-to-ride feature
In a battle to dominate the ride-sharing market in India, Uber is taking on Ola and other homegrown taxi-aggregators with innovation.
- The ride-hailing company rolled out ‘m.uber.com,’ a light, web-based version of its service to tap users with basic smartphones.
- The San Francisco, California-based firm is also piloting three new app features — ‘call to ride’, ‘request for a guest’ and offline search.
- The aim is to woo customers who prefer booking a taxi through a phone call or have Internet connectivity issues. Uber’s India team played a key role to develop these pieces of innovation.
Microsoft launches Azure Databricks, new AI tools for developers.
Microsoft has launched new data platform technologies and cross-platform developer tools.
- It launches with an objective to help increase developers’ productivity and simplify app development.
- The company introduced a new AI-powered platform “Azure Databricks” during an event for developers.
- Azure Databricks analytics platform delivers one-click setup, streamlined workflows and an interactive workspace.
Walmart India recognised among 100 best companies for women
As per a study Walmart India, the subsidiary of Walmart Stores Inc, got recognition among the 100 Best Companies for Women in India in 2017.
- The study is made by AVTAR Career Group and The Working Mother Media to identify companies with the most favourable policies and practices in promoting employment.
- The Working Mother Media and the AVTAR Best Companies for Women in India study was first launched in 2016 to honour companies that help women have sustainable careers
RBI cancels OMO sales
The Reserve Bank of India has cancelled the open market operation of bond sales of Rs. 10,000 crore scheduled on November 23 citing the ‘evolving liquidity condition’.
- Surplus liquidity in the system is about Rs. 1 lakh crore now, compared with more than Rs. 2 lakh crore in early October.
- Liquidity could further tighten as lending activity typically gains pace in the second half of the fiscal.
Open market operations are conducted by the RBI by way of sale or purchase of government securities (g-secs) to adjust money supply conditions. The central bank sells g-secs to suck out liquidity from the system and buys back g-secs to infuse liquidity into the system. These operations are often conducted on a day-to-day basis in a manner that balances inflation while helping banks continue to lend. The RBI uses OMO along with other monetary policy tools such as repo rate, cash reserve ratio and statutory liquidity ratio to adjust the quantum and price of money in the system.
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RBI Headquarters
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Mumbai
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RBI Governor
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Urjit Patel
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RBI Deputy Governors
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BP Kanungo,
S S Mundra,
N S Vishwanathan and
Viral Acharya
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As per the report, India has the highest number of people without basic sanitation.
India, the world’s second-largest country by population, has the highest number of people without basic sanitation, according to a WaterAid's State of the World's Toilets 2017 report.
- The report says despite immense progress through the Swachh Bharat Mission, more than 732 million people are still suffering.
- India also ranks in the top ten for reducing open defecation and improving access to basic sanitation.
- According to the report, after India, China, the world’s most populous country, comes in second, with 343 million people without decent toilets.
- WaterAid is an international organisation whose mission is to transform the lives of the poorest and most marginalised people by improving access to clean water, sanitation and hygiene.
First woman appointed to the role of ‘Black Rod’ in Britain’s Houses of Parliament after 600 years.
Britain’s upper parliamentary chamber, the House of Lords, has appointed a woman to the role of ‘Black Rod’ for the first time in the office’s 650-year history.
- Sarah Clarke, currently responsible for the organization of the annual Wimbledon tennis championships, will be known as The Lady Usher of the Black Rod.
- Black Rod is a senior officer in the House of Lords. He/She is responsible for controlling access to and maintaining order within the House and its precincts.
South Asia Regional Training and Technical Assistance Center (SARTTAC)
An Interim Meeting of the Steering Committee of the International Monetary Fund (IMF)’s South Asia Regional Training and Technical Assistance Center (SARTTAC) was held recently in national capital to assess the Center’s activities since its inauguration in February 2017 and to review the Fiscal Year 2018 Work Plan.
- Officials from all Six (6) Member countries attended the meeting, together with the Development Partner representatives (the European Union, the United Kingdom, Australia, and USAID), and IMF staff.
- SARTTAC, the newest addition to the IMF’s global network of fourteen regional centers, is a new kind of capacity development institution, fully integrating customized hands-on training with targeted technical advice in a range of macroeconomic and financial areas, and generating synergies between the two. It was inaugurated at Delhi in February 2017.
- SARTTAC is financed mainly by its six member countries — Bangladesh, Bhutan, India, Maldives, Nepal, and Sri Lanka — with additional support from Australia, the Republic of Korea, the European Union and the United Kingdom.
- SARTTAC’s strategic goal is to help its member countries strengthen their institutional and human capacity to design and implement macroeconomic and financial policies that promote growth and reduce poverty.
Bill Gates meets Yogi Adityanath and discussed about UP’s medical issues.
Microsoft founder Bill Gates met Uttar Pradesh Chief Minister Yogi Adityanathand discussed about the immunisation programme against Japanese Encephalitis (JE) and Acute Encephalitis Syndrome (AES).
- The chief minister met Mr Gates, co-chair and trustee of the Bill and Melinda Gates Foundation, at the Shastri Bhawan.
- CM says the state government would intensify the JE and AES immunisation programme with the help of the Bill and Milinda Gates Foundation.
- Yogi Adityanath says they will sign a Memorandum of understanding(MoU) for this purpose soon.
- The chief minister apprised Mr Gates about the efforts of the government to eliminate prevalent vector-borne diseases in the state.
Canadian film school to set up satellite campus in Hyderabad
The Vancouver Film School (VFS) came to Hyderabad for setting up its satellite campus and will offer programmes in animation, gaming and VFX.
- The Telangana Academy for Skill and Knowledge (TASK) has been chosen as the nodal agency to handle all the operational issues.
- A Memorandum of Understanding (MoU) is inked between the Telangana government’s ITE&C department and VFS on Friday.
- The MoU took place in the presence of IT minister KT Rama Rao and Canadian minister of international trade, Francois Philippe Champagne.
Vinesh, Ritu Phogat win gold medals at wrestling nationals:
Vinesh and Ritu Phogat bagged gold medals at the National Wrestling Championship.
- Commonwealth Games gold medalist Vinesh, representing Railways, finished first after beating Haryana’s Manisha in the women’s 55-kg category
- Ritu won the women’s 50-kg event after beating Nirmala
62nd Senior National Wrestling Championship venue
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Indore, Madya Pradesh
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