Current Affairs – December 29, 2017

Here’s your daily summary of Current Affairs.

SBI gets Board approval to raise Rs 8000 cr to comply with Basel III norms

According to the country’s largest lender, SBI, its board has approved raising Rs 8,000 crore through various sources, including masala bonds, to meet Basel III capital norms. Masala bonds are rupee denominated specialised debt instruments that can be floated in overseas markets only to raise capital. Banks in India have to comply with the global capital norms under Basel III by March 2019, three months later than the internationally agreed time frame by January 2019.



India successfully test fires AAD interceptor missile        

India successfully test-fired its indigenously developed Advanced Air Defence (AAD) supersonic interceptor missile, capable of destroying any incoming ballistic missile at low altitude, from a test range in Odisha. This was the third supersonic interceptor test carried out this year in which an incoming ballistic missile target was successfully intercepted, within a 30km altitude of the earth’s atmosphere by an interceptor. The interceptor is a 7.5-meter long single stage solid rocket propelled guided missile equipped with a navigation system.



Bugs Bunny creator Bob Givens dies aged 99     

American Bob Givens, one of the animators behind designing the iconic characters Bugs Bunny and Elmer Fudd, died at the age of 99. He was an animator for more than 60 years. He also brought his skills to TV advertising, animating cartoon insects for Raid bug-killer commercials. Givens served in the US army during the Second World War, before returning to the animation industry.




IPS Officer Abhay appointed Director General of Narcotics Bureau       

Senior IPS officer Abhay was appointed Director General of Narcotics Control Bureau (NCB). He is at present working in Central Reserve Police Force (CRPF). The Appointments Committee of the Cabinet has approved his appointment to the post till November 18, 2019. The post was lying vacant after R R Bhatnagar took over as DG of CRPF in April 2017.




Singer Chitra wins prestigious Harivarasanam Award from Kerala Government    

Vetean singer K S Chitra has been selected for prestigious ‘Harivarasanam’ award 2017, instituted by the Kerala government. The award carrying a cash prize of Rs 1 lakh, citation and plaque would be presented to the veteran playback singer at a function on January 14, 2018. The ‘Harivarasanam’ awards were instituted in 2012. Singers K J Yesudas, M Jayachandran, S P Balasubramanyam, Gangai Amaran and M G Sreekumar are among the earlier winners.




Anisa Sayyed wins 25m pistol gold in National Shooting Championships

Haryana shooter Anisa Sayyed won the women’s 25m pistol gold with a new record at the ongoing 61st National Shooting Championship Competitions (61st NSCC), in Thiruvananthapuram. Anisa shot a new finals national record score of 33 to prevail over the Maharashtra duo of Shital Shivaji Thorat and Rahi Sarnobat, who won the silver and bronze medals respectively at the National Games Shooting Range.




100th Indian Economic Association Conference Inaugurated in Guntur          

President Ramnath Kovind inaugurated the 100th Annual Conference of the Indian Economic Association at Acharya Nagarjuna University in Guntur of Andhra Pradesh. The event will be held for four days. Indian Economic Association is a registered body of Indian economic professionals with an objective of providing a forum for debate and discussion of policy-oriented issues. The Association currently has 5000 plus members, both individual and institutional.

  • The Indian Economic Association (IEA) was established in 1917.
  • The President of IEA (Conference) is Prof. C. Rangarajan.
  • The President of IEA (Association) is Prof. Sukhadeo Thorat.


Orissa Government to set up Heritage Cabinet        

The Orissa Government has decided to set up a Heritage Cabinet under the chairmanship of the Chief Minister Navin Patnaik. The objective is to preserve the relics and monuments across the state. This has been done by bifurcating the tourism and culture ministry through a Cabinet decision taken on the 26th December 2017. The Cabinet also took a decision to set up an Odiya Language Commission.




Paul Antony has been appointed as Chief Secretary of Kerala   

Paul Antony, an IAS Officer of the 1983 batch, has been appointed as the Chief Secretary of the Kerala Government. He will take charge on 1st Jan 2018. He will replace K.M.Abraham who will retire on 31st December 2017. Paul Antony is currently the Additional Chief Secretary.




Rajasthan Government sets up E Mitra ATMs at 9900 locations in the State

The Rajasthan Government is setting up Automated Service Machines E Mitra Plus at Atal Seva Kendra in 9900 locations across the State. It will also be available in 2500 urban locations in the state. Through these E Mitra Plus ATMs, the public can avail of 380 services of various Government departments. They have human less interface and are linked to Aadhar cards. Through these, the public can make payment through cards as well as cash. Currently, over 60 lakh transactions with a turnover of over Rs 700 cr take place through the E Mitra machines.



New norms on shareholding pattern in Mutual Funds announced by SEBI   

The board of Securities and Exchange Board of India (SEBI) has decided that any shareholder owning at least 10 % stake in an AMC will not be allowed to have 10 % or more stake in another mutual fund house operating in the country. Further, a sponsor of a mutual fund, its associates, group company and its asset management company will be restricted from holding 10 % or more stake in a rival AMC. In addition, such entities will be barred from having a representation on the board of another mutual fund house.

In addition, SEBI has decided to come out with a fresh consultation paper on Investment Advisor in order to segregate advisory and the role of a distributor. To prevent the conflict of interest that exists between ’advising’ of investment products and ‘selling’ of investment products by the same entity/person, there should be clear segregation between these two activities, the regulator has said.

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