Daily Update On Current Affairs – May 12, 2017

Current Affairs

Here’s your daily summary of Current Affairs.

Vinay Mohan Kwatra Appointed As Ambassador To France

Diplomat Vinay Mohan Kwatra has been appointed as India’s next ambassador to France. He is currently serving as joint secretary in the Prime Minister’s Office (PMO). Kwatra will succeed Mohan Kumar who is due to retire soon. Kwatra has served in Indian diplomatic missions in China and the US and has experience in dealing with the UN organisations such as International Labour Organisation (ILO) and World Health Organisation (WHO). In the MEA, he had served as the joint secretary incharge of the counter-terrorism division in the MEA.

India Protests Participation Of Canada’s PM At ‘Khalsa Day’

India has protested the participation of Canadian Prime Minister Justin Trudeau at ‘Khalsa Day’ in Toronto that saw felicitation of Sikh separatist elements and featured Khalistani flags and posters of Jarnail Singh Bhindranwale. Mr Trudeau has become the first Canadian PM to attend the ‘Khalsa Day’ event in a decade since Paul Martin in 2005. The Khalsa Day event was organised to mark the Sikh new year.

May 11: National Technology Day

National Technology Day is being observed across India on May 11 to mark India’s technological advancements. 
Theme for 2017: Technology for inclusive and sustainable growth. 
Significance: The day is being commemorated to celebrate the anniversary of first of the five tests of Operation Shakti (Pokhran-II) nuclear test, held on 11 May 1998 in Pokhran, Rajasthan. The operation was led by the former President APJ Abdul Kalam. After conducting two more tests as a part of the Pokhran-II/Operation Shakti initiative, India was declared as a nuclear state by the then Prime Minister Atal Bihari Vajpayee.

Sanjay Mitra Appointed As Next Defence Secretary

The Appointments Committee of the Cabinet has approved the appointment of 1982 West Bengal cadre IAS officer Sanjay Mitra as the next defence secretary. He will have a fixed tenure of two years. Prior to this appointment, Mitra was the secretary in the ministry of road transport and highways.

Other appointments: Anant Kumar Singh, a 1984 batch IAS officer of Uttar Pradesh has been appointed as the secretary in the textiles ministry. Anant Kumar Singh is the first officer from the 1984 batch to get the secretary-level appointment.
Rashmi Verma who was the secretary in the textiles ministry has been moved to a similar position in the ministry of tourism.

India’s GM Crop Regulator Approves Commercial Use Of GM Mustard In Recommendations To The Environment Ministry

India’s GM crop regulator has recommended the commercial use of genetically modified mustard in a submission to the Environment Ministry amid opposition by anti-GM groups. In its submission, the Genetic Engineering Appraisal Committee, GEAC, the nodal regulator for Genetically Modified GM) crop, has given a positive recommendation, with certain conditions. With its green signal, GEAC has pushed the hybrid plant developed by scientists at the Delhi University closer to becoming the country’s first edible GM crop.

Income Tax Department Launches A New eFacility To Link Aadhaar With PAN

The Income Tax Department has launched a new e-facility to link a person’s Aadhaar with the Permanent Account Number (PAN). The department’s e-filing website has created a new link on its homepage making it easy to link the two unique identities of an individual. An official release said that in case of any minor mismatch in the Aadhaar name as compared to the actual data in Aadhaar, a One Time Password will be sent to the mobile registered with Aadhaar. It said that the taxpayer should ensure that the date of birth and gender in PAN and Aadhaar are exactly the same.

SBI Life To Hire Eight Banks To Manage Its IPO

SBI Life Insurance Co Ltd is set to hire eight banks including Citigroup, Deutsche Bank and BNP Paribas to manage its up to 1 billion initial public offering of shares, IFR reported on Friday, citing three sources with knowledge of the deal. The life insurance arm of top Indian lender State Bank of India will hire five local banks – Axis Capital, ICICI Securities, JM Financial, Kotak and SBI Capital Markets.

Apple As A Country On Its Own Can Be The 17th Largest Economy In The World

US technology giant Apple on Tuesday became the first company ever in the world to enjoy a market capitalisation of 800 billion. If it were a country and iPhone its capital, it would have been the 17th largest economy in size after Indonesia. Along with Larry Page and Sergey Brin founded Alphabet (660 billion) and Bill Gates founded Microsoft (530 billion), the three ‘AAM’ (Apple, Alphabet and Microsoft) firms are worth nearly 2 trillion, which equals the combined market capitalisation of the 5,400 companies listed on BSE. 

India To Become Third-Largest Consumer Economy By 2025: BCG

Even as the world economy struggles and many developed countries are trying to alter their consumption through austerity drive, India could end up as the third largest consumer economy by 2025 according to a report by the Boston Consulting Group (BCG). Consumption in India is set to triple to $4 trillion by 2025 as rising affluence drives changes in consumer behaviors and spending patterns that have big implications for companies, the BCG report said. “Nominal year-over-year expenditure growth of 12% is more than double the anticipated global rate of 5% and will make India the third-largest consumer market by 2025,” it added. 

Sri Lanka Has Rejected China’s Request To Dock One Of Its Submarines In Colombo

Sri Lanka last allowed a Chinese submarine to dock in the capital of Colombo in October 2014, a move that triggered fierce opposition from its northern neighbour India, which worries about growing Chinese activity in a country it has long viewed as part of its area of influence. Indian Prime Minister Narendra Modi arrived in Sri Lanka on Thursday for a two-day official visit. A senior Sri Lankan government official said China’s request to dock one of its submarines in Colombo this month had been rejected. He said Sri Lanka was “unlikely” to agree to China’s request to dock the submarine at any time, given India’s concerns. The official asked not to be named because of the sensitivity of the matter. 

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