Daily Current affairs - January 6th and 7th, 2018 for all competitive exams
The World Day of War Orphans was initiated by the French organisation, SOS Enfants en Detresses.
- Held on 6th January each year, this special day enables the International Community to recognise the plight of a particularly vulnerable group.
The usual definition of an orphan is a child who has no surviving parent to care for him or her, having lost both parents, either as a result of bereavement or by being abandoned.
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PM Modi to open meet of Indian-origin lawmakers in Delhi on Jan 9
Prime Minister Narendra Modi will inaugurate the conference of parliamentarians of Indian origin (PIOs) from 23 countries here on January 9.
- Over 140 members of parliament and mayors will attend the meet at the Pravasi Bharatiya Kendra at Chanakyapuri.
- 124 MPs from the UK, Canada, Fiji, Kenya, Mauritius, New Zealand, Sri Lanka and other countries will take part.
Income Tax Department launches on-line chat service
Tax Department has launched an on-line chat service on its national website www.incometaxindia.gov.in.
- This is aimed at facilitating the taxpayers resolve their queries.
- A customer support executive having expertise in tax-related matters helps the users in resolving their queries on-line.
- The facility is available on all working days from Monday to Friday between 10 AM and 6 PM.
- The module can also be accessed through a mobile application called ‘AayakarSetu’ on Android phone.
Rural BPO scheme: women form 40% of added headcount
The government’s India BPO promotion scheme, which aims to popularise the industry beyond metros, has so far provided employment to almost 11,000 people across the country, of which 40% are women.
- The scheme, under the Digital India Programme, was introduced in April 2016 to incentivise BPO firms to extend operations to tier-2 and tier-3 cities.
- With an outlay of about Rs. 500 crore, it aims to incentivise establishment of 48,300 seats, providing about 1.45 lakh jobs, under a three-shift strategy.
- Till now, out of the reported employment of 10,968 persons under the scheme, approximately 40% are women
3rd meeting of Council for Trade Development and Promotion
Shri Suresh Prabhu, Union Minister for Commerce and Industry recently chaired the 3rd meeting of the Council for Trade Development and Promotion.
- The State Ministers of Commerce and Industry, Secretaries of concerned central departments/Ministries and heads of other export related organizations/trade bodies are Members of the Council.
The Council for Trade Development and Promotion was constituted in July 2015 under the chairpersonship of the Union Minister for Commerce and Industry, in pursuance to the provisions of Foreign Trade Policy statement 2015-20.
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IESA to hold India’s 1st energy storage startup competition
The India Energy Storage Alliance (IESA) is set to hold the country’s first startup competition focused on energy storage, electric vehicles & charging infrastructure, and micro-grids.
- The competition is a part of its fifth international conference on energy storage and will be held next week.
- The top three startups will get expression of interest from investors along with cash prize.
IESA’s mission is to make the energy sector in India more competitive and efficient by creating awareness among various stakeholders in the industry and by promoting information exchange with the end users.
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10% gender gap in Jan Dhan accounts: study
A World Bank paper has noted a 10% gender gap in opening accounts under the country’s flagship financial inclusion programme — Jan Dhan Yojana — with 73% men applying for the accounts against 63% women.
- Madhya Pradesh recorded the largest gender gap of 21%.
- The paper titled, ‘Making It Easier to Apply for a Bank Account: A Study of the Indian Market’ by Asli Demirguc-Kunt, Leora Klapper, Saniya Ansar and Aditya Jagati also noted an income gap — 64% being poorer adults and 71% richer adults — in applying for an account.
- The survey was carried out between January and March of 2016 in 12 States — Andhra Pradesh (including Telangana), Bihar, Chhattisgarh, Himachal Pradesh, Jharkhand, Kerala, Madhya Pradesh, Maharashtra, Odisha, Punjab, Rajasthann and Uttar Pradesh — which make up about 70% of the country’s population.
Pradhan Mantri Jan-Dhan Yojana is India's National Mission for Financial Inclusion to ensure access to financial services, namely Banking Savings & Deposit Accounts, Remittance, Credit, Insurance, Pension in an affordable manner.
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Three day conference of top police officers to begin at BSF academy Tekanpur in Gwalior
A three-day conference of top police officers of the country begins at BSF academy, Tekanpur, in Gwalior district of Madhya Pradesh.
- The meet attended by the officers of director general of police (DGP) and inspector general of police (IGP) ranks from all the states and central police organisations and will discuss issues such as cyber terrorism, impact of social media and radicalisation of youth.
- The conference will be attended by Prime Minister Narendra Modi. Home Minister Rajnath Singh and National Security Adviser (NSA) Ajit Doval will also take part in the conference.
Uttar Pradesh education board to help Nepal conduct school exams
Nepal has approached Uttar Pradesh education board seeking support and guidance for its newly established National Examination Board of Nepal in conducting high school and intermediate exams.
- The UP board has shared details of evaluation processes and question paper moderation, among others.
- They also provided them with copies of some exam-related instructions for reference.
West Bengal launches West Bengal govt’s official emblem
The West Bengal government launched its official emblem, conceptualized and designed by chief minister Mamata Banerjee.
- Mamata Banerjee says the state emblem the “Biswa Bangla” logo with Ashoka Pillar of the national emblem will be used in all the official works and documents of the Bengal government from now on.
- The state cabinet has already cleared a proposal to name the state of West Bengal as ‘Bangla’ in September last year.
Naveen Patnaik launches online registration system for the safety of senior citizens.
Chief minister Naveen Patnaik launched a web-based application that will help elderly people, staying alone in Bhubaneswar and Cuttack, to enrol themselves under senior citizen security cell (SCSC) system of the commissionerate police.
- The SCSC system, which was introduced in a handful of police stations in 2009, now covers all the 20 police stations in Bhubaneswar and 18 in Cuttack.
Maharashtra to form its own international school board
The Maharashtra government has announced it will form its own international school board in the state.
- The Maharashtra International Education Board (MIEB) will be an autonomous body which will design curriculum for schools and conduct examinations.
- The board will help students who can’t afford an international-level education at private schools.
Constitution Bench to look at adultery law
The Supreme Court referred to a Constitution Bench a plea to decide if the pre-Independence provision of adultery in the Indian Penal Code, Section 497, treats a woman as a commodity owned by her husband and violates the constitutional concepts of gender equality and sensitivity.
- A three-judge Bench, led by Chief Justice of India Dipak Misra, said it was time to reconsider the consistent view from 1954 onwards that the penal provision was necessary to uphold family ties.
Section 497 in The Indian Penal Code:
Adultery.—Whoever has sexual intercourse with a person who is and whom he knows or has reason to believe to be the wife of another man, without the consent or connivance of that man, such sexual intercourse not amounting to the offence of rape, is guilty of the offence of adultery, and shall be punished with imprisonment of either description for a term which may extend to five years, or with fine, or with both. In such case the wife shall not be punishable as an abettor.
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ASEAN India Pravasi Bharatiya celebrated in Singapore
The annual ASEAN India Pravasi Bharatiya Divas is being celebrated at Singapore. The conference, which will be attended by top leaders and businessmen from Singapore and India, will discuss the contribution of the Indian diaspora community in Southeast Asia.
- Aim is to highlight the “ancient human, maritime, cultural, commercial and religious links between India and Southeast Asia” and to promote greater economic, cultural and diplomatic cooperation between the two regions.
- Theme: “Ancient Route, New Journey: Diaspora in the Dynamic Asean-India Partnership.”
The event coincides with the 25th anniversary of India-Asean dialogue partnership, which will be marked by a summit on Jan. 25 in New Delhi. Asean leaders have been invited by India to be chief guests at the Republic Day parade in New Delhi on Jan. 26.
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Sushma Swaraj 3 Nation Visit: Co-Chairs Meeting of India-Indonesia Joint Commission
External Affairs Minister Sushma Swaraj who is visiting Indonesia as part of her three-nation tour, co-chaired the fifth meeting of the India-Indonesia Joint Commission with her Indonesian counterpart Retno Marsudi.
- Both the countries agreed to work together for a balanced and sustainable trade by providing greater market access, both in goods and services.
Trump regime suspends security aid to Pakistan
The U.S. is suspending most of its security assistance to Pakistan until it “takes decisive action against groups, including the Afghan Taliban and the Haqqani Network”.
- The announcements from the State and Defence Departments followed a public condemnation of Pakistan by President Donald Trump on January 1.
Britain consider to implement Latte levy
Britain is considering implementing a “latte tax” to curb the consumption of disposable coffee cups.
- The fee would amount to 50 cents on top of every coffee sold, and it’s intended to encourage people to use reusable coffee cups.
- In the UK, 500 takeaway coffee cups are thrown away every minute. Most takeaway cups aren’t recyclable; they’re laminated with plastic or polyethylene that is difficult to strip away and most recycling facilities aren’t equipped to recycle them.
Country
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United Kingdom
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Capital
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London
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Currency
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Pound Sterling
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Prime Minister
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Theresa May
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China begins building the third aircraft carrier
China has started building its third aircraft carrier with a hi-tech launch system.
It is completing a new type of destroyer with modern weapons to be deployed in the Indian Ocean and the South China Sea.
- China launches its first aircraft carrier in 2014 which is a refitted vessel of the hull of a former Soviet ship.
- The second aircraft carrier will take a launch this year.
Country
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China
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Capital
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Beijing
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Currency
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Renminbi
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President
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Xi Jinping
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China develops new underwater surveillance network
China’s underwater glider has successfully ended its mission to the Indian Ocean and the South China Sea.
- It has developed a new underwater surveillance network to help its submarines lock on to targets.
- China’s independently-developed underwater glider, Haiyi, which means “sea wings” in Chinese, has successfully completed a scientific observation in the Indian Ocean.
Country
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China
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Capital
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Beijing
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Currency
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Renminbi
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President
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Xi Jinping
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Scientists artificially grow hairy skin for the first time
In a first, US-based researchers have developed hairy skin from mice stem cells in laboratory conditions, which could lead to new treatments for skin disorders and cancers.
- The team discovered the skin was a byproduct of a process they developed earlier for growing ear tissue. The skin organoids sprouted hair follicles within 20 days.
ISRO ready for the first satellite launch in 4 Months after failure in August
Since August last year, ISRO had an agonising four months fixing the problem on its rockets.
- The space agency says the problem is solved and it is ready to fly its rockets again with 31 satellites.
- ISRO, the country’s premier space agency that handles the launch seems to have regained confidence and is ready for a lift-off on January 12.
RCom’s Chinese lender recalls petition
The China Development Bank (CDB), one of the biggest foreign lenders to Anil Ambani-led Reliance Communications (RCom) with an exposure of $2 billion to the carrier, withdrew its petition at the National Company Law Tribunal seeking to drag RCom into insolvency.
- A lawyer representing CDB informed the NCLT that the Chinese bank had filed a plea to withdraw the insolvency petition, which the tribunal allowed.
Ethereum has hit $1000 for the first time
Ethereum has hit $1,000 for the first time, while investors eye at alternative currencies such as ripple, ethereum and litecoin besides bitcoin. Earlier Ethereum was the second-most valued currency after bitcoin, but now ripple has outpaced it lately.
- It, like most cryptocurrencies, shares the same basic traits as bitcoin. It has underlying blockchain technology with a tethered token, which in this case is known as “Ether.” Ether is the token investors are purchasing.
Blockchain is the digital and decentralized ledger that records transactions without the need for a financial intermediary, which in most cases is a bank.
The advantages of blockchain technology are aplenty.
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Zoho Corp to set up centre in State
The California-based $1.4 billion Zoho Corporation is all set to start operations in Tirupati.
- The announcement of Google X on operations in the State has created a positive impact in terms of IT investment flow.
- Google’s innovation arm, Google X, has tied up with the Andhra Pradesh government last December to start operations in Visakhapatnam.
India’s GDP can clip at 6.7% average for next 5 years: Fitch
Rating agency Fitch has stated that India has the potential to grow at an average 6.7% rate over the next five years.
- This puts India ahead of the 5.5% growth estimated for China and Indonesia, who are joined at the second fastest rank.
- India has an “impressive rate of capital accumulation per worker” which helps in maintaining economic growth and increasing living standards.
Government introduces a new 10-year benchmark bond at a coupon of 7.17%
The government introduced a new 10-year benchmark bond at a coupon of 7.17 per cent — much lower than the existing 10-year bond that closed at 7.29 per cent.
- Against the new bond, Rs 90 billion was issued. Against the older 10-year benchmark, the government had raised Rs 1.21 trillion.
- There is always a difference in yields between two bonds. The older series, which would no longer be used to raise funds, get higher yields as traders add illiquidity premium.
Paytm Payments Bank, IndusInd tie-up for fixed deposit facility
Paytm Payments Bank has partnered with Induslnd Bank to introduce a facility to create a fixed deposit when the customer balance exceeds Rs 1 lakh at the end of day.
- Paytm Payments Bank customers can redeem their deposits instantly, anytime without paying any pre-closure or miscellaneous charges and can earn up to 6.85 per cent annual interest.
- If a customer becomes a senior citizen before the maturity period, the account will be auto renewed under the senior citizen scheme, thus earning higher interest.
Bank
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Paytm Payments Bank
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Induslnd Bank
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Headquarters
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Noida
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Mumbai
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Tagline
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Simplifying Payments For India
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We care dil se;we make you feel richer
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CEO
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Renu satti
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Ramesh Sobti
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State Bank of India may cut minimum balance limit in savings a/c’s to Rs.1,000
India’s largest lender SBI is planning to bring down the minimum balance limit for savings accounts to Rs.1,000 from the current Rs.3,000 balance in metros.
- This comes after a Finance Ministry report showed that SBI collected Rs.1,771 crore during April-November 2017 as charges from customers who didn’t maintain their minimum monthly average balance in their accounts.
Bank
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State Bank of India
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Headquarters
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Mumbai
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Tagline
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Banker to every Indian
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CEO
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Rajnish Kumar
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Orkut to return to India in ‘Hello’ avatar
Orkut Buyukkokten, the creator of Orkut.com, one of the early and most famous social media platforms, is planning to unveil his new social media network ‘Hello’ in India in the next two months.
- A decade later, the Internet giant shut down the social networking service, which, at its peak, had gathered more than 300 million users worldwide.
- Facebook, which was also founded in 2004, is now the leading social network in the world with more than two billion monthly active users.
TIHCL gets Reserve Bank of India nod to operate as NBFC
Telangana Industrial Health Clinic Ltd (TIHCL), a State government initiative, has got RBI clearance to register and function as a non-banking finance company (NBFC).
- It will be the first State promoted and co-financing NBFC. TIHCL was floated in 2017 with a corpus of Rs.100 crore, which included contributions from the State and Central governments, financial institutions, industrial units and high networth individuals.
- Lenders such as Karur Vysya Bank, Vijaya Bank, Canara Bank, Union Bank, SBI and SIDBI have evinced interest in partnering with TIHCL.
- TIHCL’s innovative institutional intervention to resolve the stressed assets in micro and small manufacturing enterprises attracted the attention of policymakers at the national level.
Non-banking financial companies, or NBFCs, are financial institutions that provide certain types of banking services, but do not hold a banking license. Generally, these institutions are not allowed to take deposits from the public, which keeps them outside the scope of traditional oversight required under banking regulations.
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New India to unveil title cover for realty developers
New India Assurance shortly plans to introduce title insurance cover for property developers.
- The product would insure the property developer against any defect in the title deeds
- The firm recently introduced an insurance product for insolvency professionals. Many banks were initiating insolvency proceedings and they had to complete proceedings and transactions. This product would provide professional indemnity.
- New India Assurance: G. Srinivasan, CMD
Himalayan Hydro Expo 2018 Kicked off at Kathmandu
The Himalayan Hydro Expo 2018 kicked off at Kathmandu, the capital Nepal. President of Nepal Bidya Devi Bhandari inaugurated the exhibition.
- The basic objective of Expo is to unleash massive hydropower potential of Nepal and bring all stakeholders under one roof.
18th All India Whips Conference to start from January 8
18th All India Whips Conference to be held in Udaipur. Union Parliamentary Affairs minister Ananth Kumar is slated to inaugurate the conference to be held on January 8 and 9.
- It will be attended by whips of various political parties from different states. e-Sansad and e-Vidhan are mission mode projects under Digital India to make the functioning of Parliament and state Legislatures paperless.
- The states and Union territories will give action-taken report on recommendation of the 16th and 17th whips’ conferences held in Goa and Visakhapatnam respectively.
- e-Vidhan would make the functioning of state legislatures paperless, transparent, productive and more accountable to the public and economise the entire Legislative process.
- The whips’ conference makes a number of recommendations for smooth and efficient working of Parliament and the state legislatures in the light of the experience gained by the whips.
Dhawala is Himachal pro tem Speaker
Senior BJP leader and MLA from the politically important district of Kangra, Ramesh Dhawala, who could not make it to the Cabinet, was made the pro temSpeaker of the Himachal Pradesh Assembly.
- He was administered the oath of office and secrecy by Governor Acharya Dev Vrat.
Lenovo India appoints Alok Garodia as CFO
Chinese technology company Lenovo announced it has appointed Alok Garodia as Chief Financial Officer (CFO) for its India operations.
- Garodia joins Lenovo from Nike where he served as Director, Finance/CFO, of the India business.
Central Water Commission received CBIP Special recognition award
Water Commission has received Central Board of Irrigation and Power (CBIP) Special Recognition Award 2018 for Excellence in Health & Safety of Large Dams.
- The award has been given in recognition of the contribution made by the Central Water Commission (CWC) for promoting the health and safety of large dams in India through the World Bank aided Dam Rehabilitation and Improvement Project (DRIP).
The Ministry of Water Resources (MoWR), Government of India, with assistance from the World Bank, is implementing the Dam Rehabilitation And Improvement Project (DRIP), which would be a six-year project.
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MAS Chief Ravi Menon Named Best Central Bank Governor in Asia-Pacific
The managing director of the Monetary Authority of Singapore (MAS), Ravi Menon, has been named the best central bank governor in Asia-Pacific for 2018 by UK-based magazine, The Banker.
- Finance Minister Heng Swee Keat was also given this award in 2011 when he was then MAS's managing director.
T S Tirumurti appointed as economic relations secretary
India’s High Commissioner to Kuala Lumpur T S Tirumurti was appointed as the Secretary (Economic Relations) in the External Affairs Ministry.
- According to the order issued by the personnel ministry, the Appointments Committee of the Cabinet has approved his appointment to the post, in place of Vijay Keshav Gokhale, who was recently named as the Foreign Secretary.
- Tirumurti is a 1985-batch officer of Indian Foreign Service.
CFC ban helped ozone hole heal, says study
An international ban on chlorine-containing man-made chemicals called chlorofluorocarbons (CFCs), has resulted in about 20% less ozone depletion, NASA said.
- CFCs are long-lived chemical compounds that eventually rise into the stratosphere, where they are broken apart by the Sun’s ultraviolet radiation, releasing chlorine atoms that go on to destroy ozone molecules.
- Stratospheric ozone protects life on the planet by absorbing potentially harmful ultraviolet radiation that can cause skin cancer and cataracts, suppress immune systems and damage plant life.
- The change in ozone levels above Antarctica from the beginning to the end of southern winter — early July to mid-September — was computed daily from MLS measurements every year from 2005 to 2016.
Ghufran, Kajal bag men’s, women’s crowns in 24th Federation Cup All India Carrom Championship
Kajal Kumari and Mohamed Ghufran, both representing Petroleum Sports Promotion Board (PSPB), registered contrasting wins to bag the women s singles and men s singles crowns respectively in the LIC of India sponsored 24th Federation Cup All India Carrom Championship.
- In the women s final Kajal was in complete control and went on to score an authoritative 25-13, 25-12 victory against Aisha Mohd of Jain Irrigation.
- On the other hand, Ghufran started with a flourish, but later faced a strong challenge from World Champion Prashant More of Reserve Bank of India before scraping through by a close 25-13, 12-25, 22-19 scoreline in a thrilling men s final.
Khelo India logo launched
The Union Minister of Youth Affairs and Sports, Col. Rajyavardhan Rathore, stated that Khelo India would go a long way in achieving the twin objectives of mass participation and promotion of excellence in sports.
- The Sports Minister launched the simple yet vibrant Khelo India logo at the Nehru Stadium.
- Khelo India School Games will be staged from January 31.
PHF appoints Hasan Sardar as chief coach of Pakistan hockey team
Pakistan Hockey Federation (PHF) appoints former captain Hasan Sardar as the new chief coach of the national team.
- He will be assisted by former internationals, Rehan Butt and Muhammad Saqlain on the coaching panel.
- Pakistan will appear in three major hockey events this year including the Commonwealth Games, Asian Games and World Cup.
Pakistan’s first Air Marshal Asghar Khan dies aged 96
Air Marshal Asghar Khan, the first native commander-in-chief of the Pakistan Air Force and a veteran politician, died of cardiac arrest in Rawalpindi.
- Khan became the youngest head of the PAF at the age of 35.
- Khan, a former politician and a World War 2 veteran, originally served as an officer in the British Indian Army.
