Monthly Current Affairs Quiz - August, 2017

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The Punjab government has recently launched its flagship ‘Apni Gaddi Apna Rozgar’ scheme for jobless youth by flagging off over 100 uberMOTO bikes. Under the scheme, the state government will provide commercial two wheelers and four wheelers to unemployed youth at subsidised rates. The scheme will be a game-changer for the youth of Punjab and will play a catalysing role in encouraging micro-entrepreneurship opportunities throughout the state. The target of Uber is to create 10,000 entrepreneurial opportunities in Punjab in one year and a total of 45,000 in next five years.

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Jeanne Moreau (89), the legendary French film actress, has passed away at Paris in France on July 31, 2017. She was best known for her role in Francois Truffaut’s New Wave classic “Jules et Jim”.

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The Union Ministry of Electronics and Information Technology (MeitY) has recently constituted a committee of experts under the chairmanship of a former Judge of Supreme Court Justice B N Srikrishna to study and identify key data protection issues and recommend methods for addressing them. The purpose to form the committee is to recognize the importance of data protection and keeping personal data of citizens secure and protected. The committee will also suggest a draft Data Protection Bill. 

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Santosh Mohan Dev (83), the veteran congress leader and former union minister, has passed away today in Silchar, Assam. He was first elected to the Parliament in 1980, the first of his seven terms in office as the Member of Parliament. Out of these seven, he has represented Silchar, Assam five times and he was elected from Tripura twice. He has the rare distinction of being elected from two different states. Dev was the eldest son of the renowned Bengali North Eastern Freedom Fighter Satindra Mohan Dev.

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According to the Reserve Bank of India (RBI)’s 3rd bi-monthly monetary policy statement for year 2016-17, the policy repo rate under the Liquidity Adjustment Facility (LAF) has reduced by 25 basis points from 6.25% to 6.0% with immediate effect. This move is expected to lower EMIs for home, auto and personal loans. This is the first rate cut since October 2016 and the interest rate is now at 6-year low. In line with record low retail inflation, the reverse repo rate under the LAF stands adjusted to 5.75%, and the Marginal Standing Facility (MSF) rate and the Bank Rate to 6.25%. The RBI Governor headed, six member Monetary Policy Committee also decided to keep the policy stance neutral in consonance with the objective of achieving the medium-term target for consumer price index inflation of 4%.

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Indian shuttler Rahul Yadav Chittaboina has won the men’s singles title by defeating his compatriot Karan Rajan Rajarajan by 21-15 21-13 in the summit clash at the 2017 Lagos International Badminton Classics in Lagos, Nigeria. Beside him, Manu Attri and B Sumeeth Reddy from India have won the men’s doubles title in the tournament.

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Former Indian hockey captain Dhanraj Pillay has been honored with the East Bengal football club’s highest honour “Bharat Gaurav” on its foundation day on August 1, 2017. Pillay has played a huge role in reviving the Indian team and performed brilliantly during his 15-year career, representing the country in four Olympics, World Cups, Champions Trophy and Asian Games. He played total 339 matches for India, scoring 170 goals. He led India to Asian Games glory in 1998 and also won the Asia Cup in 2003. Beside him, Gurwinder Singh and Boddupalli Amit have won the Footballer of the Year award and the Cricketer of the Year, respectively. Former India International Subhash Bhowmick, a member of the 1970 Asian Games bronze medal-winning national football team and former national team coach Syed Naeemuddin were honored with lifetime achievement awards.

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Mukesh Ambani has become the Asia’s second richest man according to the 2017 Bloomberg Billionaires Index (BBI). According to the 2017 index, Ambani’s net worth has risen to $35.8 billion (around Rs 2.2 lakh crore), making him the 19th richest person in the world, up from 29 at the end of 2016. The increase in the net worth of the chief of Reliance Industries comes partially from the rise in stock price of the energy major, which has made major bets on the retail and telecom industries. Currently, Alibaba Group founder Jack Ma is the richest person in Asia with a net worth of $43.2 billion.

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The Securities and Exchange Board of India (SEBI) has recently constituted a committee on fair market conduct, which will be headed by former Lok Sabha secretary and law secretary T K Viswanathan. The panel will have representations from SEBI, mutual funds, brokers, audit firms, stock exchanges, data analytics firms and legal firms. The committee has been tasked with suggesting improvements to the existing SEBI norms, including on insider trading and Fraudulent and Unfair Trade practices (FUTP). It has been specifically asked to look at trading plans, handling of price-sensitive information during takeovers and aligning of insider-trading rules with provisions of the Companies Act. The committee has also been tasked with suggesting short-term and medium-term measures for improved surveillance of the markets, as well as issues of high-frequency trades and harnessing of technology and analytics in surveillance. The committee will submit its report within 4 months.

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The Union Government has launched the 2nd AGRI-UDAAN programme in New Delhi on August 4, 2017 to promote innovation and entrepreneurship in agriculture. It will mentor startups and help them connect with potential investors. The program focuses on catalyzing scale-up stage food and agribusiness startups through rigorous mentoring, industry networking and investor pitching. The 6 month program is a unique platform for scale up stage innovators, entrepreneurs and startups in the Food and Agribusiness sectors. The applications will be available at www.aidea.naarm.org.in. Top 40 startups will be shortlisted and allowed to pitch in front of panel of evaluators during cohort finalization programme. Out of these about 8 to 12 startups will be selected for final cohort for capacity building workshop. The AGRI UDAAN has organised by NAARM, a-IDEA and IIM-A, CIIE in partnership with Caspian Inpact Investment and supported by DST.