Current Affairs 22nd January 2015

• It has been re-initiated after the time gap of  4 years, as the previous commission term was expired on 24 September 2011.
• The reconstituted two member commission will be chaired by Justice K.L.Manjunath, (Retd.) while the second member will be Member Secretary of APCBC.
• The tenure of the chairman of A.P. Commission for Backward Classes is of 3 years from the date of assumption of office in terms.

About AP Commission for Backward classes:

The Andhra Pradesh Commission for Backward Classes was originated in 31.3.1994, under the A.P. Commission for Backward Classes Act, 1993. The body comprises of the following members:

• A chairperson who is or has been a Judge of High Court or a retired Judge of the Supreme Court
• A Social Scientist.
• Two persons who have special knowledge matters relating to backward classes.
• A Member Secretary who shall be an officer of the Govt. in the rank of Secretary to the Govt.

4th India Africa Hydrocarbons Conference held in New Delhi

4th India Africa Hydrocarbons Conference (IAHC) was held in New Delhi. 22 African nations participate in the conference out of which nine were represented by their Ministers.

• Conference aimed at greater collaboration between India and African continent towards Development Transmitting Partnership in Hydrocarbons field.
• Deal permits India to enhance its energy security.
• And encouraging Africa's Hydrocarbons sector growth on several fronts like environmental sustainability, human resource development and employment generation.

India's first LGBT radio taxi service announced

India's first radio taxi service for the Lesbian Gay Bisexual Transgender  (LGBT) was flagged off in Mumbai on Wednesday.

• Taxi was launched by a mainstream travel company.
• The Humsafar Trust has signed up to drive radio cabs.
• This is an empowerment initiative.
• The five members of the gay and transgender community will apply for a learner's license, and complete their training in getting the All India Driver's License under the pilot programme.

"Nai Manzil" Scheme Launched in Jammu and Kashmir

Nai Manzil Scheme is an integrated Education and Livelihood Initiative for the Minority Communities.

Key highlights

• It was announced by the Union Budget 2015-16.
• Girls from minority communities will be imparted three month skill development training in seven identified sectors relevant to the region under the scheme.
• These include training in saffron processing, food processing, embroidery, computers IT, Tourism/hospitality, electronics and plumbing.
• The scheme enables them to seek better employment in the organized sector and equipping them with better lives.
• The scheme covers the entire country.

France returns head of Hindu statue taken 130 years ago

The head of a Hindu deity's statue is reattached to its body after 130 years. It was taken from the Phnom Da temple in southern Takeo territory by French researchers in 1882-1883.

• The head was reattached after a ceremony at the National Museum in Phnom Penh, Cambodia.
• The stone statue is of Harihara, an idol that combines aspects of Vishnu and Shiva.

The statue represents the two most important gods in the Hindu pantheon who represent the creation of the universe and its destruction.

Indian Bureau of Mines & NRSC inked MoU for monitoring mining activity

In a bid to monitor mining activity through satellite technology, Indian Bureau of Mines (IBM) inked MoU with National Remote Sensing Centre (NRSC) of the Department of Space.

• As a part of MoU IBM would initiate remote sensing cell under the technical guidance of the NRSC at its offices in Nagpur and Hyderabad.
• The cell will utilise Bhuvan-based services for monitoring mining activities for development of mobile app for field data collection.

The pilot project will be launched in Odisha and Hospet sector of Karnataka to demonstrate the feasibility of using high resolution satellite imagery in monitoring the changes over a period of time in select group of mines.

IN-RNO joint naval exercise "Naseem Al-Bahr" kicked off

The 10th edition of the bilateral Indian Navy-Royal Omani Navy biennial exercise began on 22 Jan 2016 - 27 Jan 2016 in the Arabian Sea.

• Initiated in 1993, the joint naval exercise aims to increase interoperability among the two navies and develop common understanding and procedures for maritime security operation.

As part of India's strategy to develop relation with the countries in the region, an Indian Navy ship had last year visited Oman in a goodwill visit.

INTERNATIONAL AFFAIRS

Ocean Alert!! (Plastic > Fish) @2050

In accordance with the report by World Economic Forum (WEF) and Ellen MacArthur Foundation, the oceans will contain more plastics than fish by 2050.

• The report was prepared as part of Project MainStream, which has been supported by McKinsey & Company.

Highlights of Report

• At Present, there are over 150 million tonnes of plastics in the ocean.
• As per report, every year, minimum 8 mn tonnes of plastic dumbed into an ocean which is equal to scrapping of one garbage truck into the ocean every minute.
• In 2013, more than $260 billion of plastic packaging was released into the market that's more than 85 million tons.
• After first use, 95% of plastic packaging loses its material value which lead to an annual economic loss of $80 billion to $120 billion.
• Only 14% of plastic packaging is collected for reuse.

India ranked 22nd among world's best countries

India ranked 22nd among world's best countries today India proved itself as the world's fastest growing economy. India ranked 22nd among world's best countries, this report was released by the World Economic Forum in the annual meeting.  India that exports a wide range of advanced products everything from jet engines to medicines to soybeans. India's growth rate is expected to rise to 7.5 per cent this year.

Highlights of Reports:

• Top five countries are Germany, Canada, the UK, the USA and Sweden respectively and China is ranked 17.
• The survey was conducted among 16,200 business leaders and other high-fliers.
• According to the report India faces its fair share of international and domestic challenges.
• The report has been prepared by US News and World Report and New York-based brand consultancy BAV Consulting and Wharton School of Business .

Details about the meeting

• The meeting was held in Davos, Switzerland.
• Theme: "Mastering the fourth industrial Revolution".
• The meeting brings together international political leaders, journalists, selected intellectuals and business persons from the world.
• In 4-day conference issues like growing terror threat, tumbling oil prices, environmental issues and China's uncertain economic prospects.
• In the Meeting they will also analysis the latest efforts to develop industrial production with robotics, artificial intelligence and information technology.

India to be fastest growing economy at 7.3% in 2016: UN report

UN report said that India will be the fastest-growing large economy in the world. India's Economy is expected to grow by 7.3% in 2016 7.5% in 2017. India passes China to become fastest growing economy.

• This is the result of the recent policies of the Indian government. India is classified as a newly industrialized country.

Term Economy growth

• Economic growth is the capacity of economy to produce goods and services.
• It is generally calculated from data on GDP and population.
• Economic growth can be measured by the following factors like- inflation, growth of population, technical progress and supply of natural resources.

 Reasons of Fastest growth

• India is growing fast because of its young population, low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy.
• Policies of the Indian government.
• India is a services and consumer-driven economy means spending on infrastructure to boost manufacturing output.
• India has capitalised its economy on its large educated population to become a majore xporter of IT services, BPO services, and software services.
• India is also the fourth largest start-up hub in the world.
• Indian auto mobile industry is one of the largest in the world.
• One of world's fastest growing E-Commerce markets.
• India has two major stock exchanges, Bombay Stock Exchange and National Stock Exchange of India which ranks 11th & 12 largest in the world.

BANKING & FINANCE

RBI instructed banks to cease Rs 1,000 notes lacking Security Thread

Reserve Bank of India (RBI) decreed banks to terminate the circulation of notes of  Rs. 1,000 denomination without the security thread.

• The decision in this regard was taken due to the complaint, that was received by RBI regarding bank notes in the denomination of Rs 1,000 printed by Currency Note Press, Nashik, on the paper (without the security thread) supplied by Security Paper Mill (Hoshangabad).
• The total value of the faulty notes is around Rs 5 lakh.

About Security Printing and Minting Corporation of India:

Instigated in 2006, SPMCIL is a government-owned corporation under Ministry of Finance, engages in the production of  bank notes, coins, non - judicial stamps, postage stamps and other government related documents for India.

• It contains 3 units consisting - 4 presses, 4 mints and a paper mill.

Here are some Interesting and Importing facts regarding Indian currency

• There cannot be banknotes in denominations higher than ten thousand rupees.
• Coins can be issued up to the denomination of Rs 1000 in terms of Coinage Act, 2011.
• The highest denomination note ever printed by RBI was the Rs 10000 note in 1938 and 1954. These notes were demonetized in 1946 and again in 1978 respectively.
• Currency paper is composed of cotton and cotton rag.
• Notes are printed at four printing presses located at Nashik (Maharashta), Dewas (Madhya Pradesh), Mysore (Karnataka) and Salboni (West Bengal).
• Coins are minted at the four mints at  Mumbai,  Noida,  Kolkata  and Hyderabad.
• Security Paper Mill that produces papers for banknotes and non-judicial stamps is situated at Hoshangabad, Madhya Pradesh.
• The amount of a banknote is written on it in 17 official languages of India.
• Soiled banknote: Become dirty due to usage and also includes a two piece note pasted together wherein both the pieces presented belong to the same note and form the entire note.
• Mutilated banknote - A portion is missing or which is composed of more than two pieces.
• Imperfect banknote - means any banknote, which is wholly or partially, obliterated, shrunk, washed, altered or indecipherable but does not include a mutilated banknote.

FreeCharge teamed up with MasterCard & Yes Bank to launch Virtual Card

In collaboration with Yes Bank and MasterCard, the wallet company FreeCharge launched a "FreeCharge Go", a virtual card that allows users to pay for goods and services at online shops and offline retailers.

• This new virtual card would enable users to use money in their digital wallets on any merchant site that accepts cards.
• Currently, FreeCharge Go can be used to transact at certain offline stores such as McDonald's and Shoppers Stop.

In 2015, FreeCharge was acquired by e-commerce giant Snapdeal while in In Dec 2015, its rival Paytm launched prepaid cards in partnership with ICICI Bank.

BUSINESS

FDI flows into India nearly doubled in 2015: UNCTAD

Foreign Direct Investment flows into India nearly doubled in 2015 as per the annual report of the United Nations Conference on Trade and Development (UNCTAD), while the US emerged as the top host country for FDI last year.

Top 10 FDI Host Economies of the World

AWARDS & RECOGNITIONS

Jodhpur's Umaid Bhawan Palace named as "World's Best Hotel"

Travel site TripAdvisor has listed Umaid Bhawan Palace  in  Jodhpur,  Rajasthan as the world's best hotel of 2016 in 25 best hotels list. It is one of the world's largest private residences is named after the Maharaja Umaid Singh, grandfather of the present owner Gaj Singh.

• It serves as the principal residence of the Jodhpur royal family.
• The other Indian hotel that was named in the list is Orange County Resorts Kabini, Karnataka which was placed at 13th position.

Features of Palace:
The Palace is divided into 3 parts - the residence of the royal family, a luxury Taj Palace Hotel, and a Museum focusing on the 20th century history of the Jodhpur Royal Family.

• The place has an expansion over 26 acres of land which was built by the cluster of around 3000 people.
• It was designed by Edwardian architect Henry Lanchester with a mix of eastern and western architectural influences.
• The Place has 347 rooms which are managed by Taj Hotels.
• Umaid Bhawan Palace's normal room priced starts at an average of around 50,000 per night.

Here are the top 10 hotels of World

APPOINTMENTS

Big B & Quantico Star chosen as the brand ambassadors for Incredible India

Amitabh Bachchan and Priyanka Chopra have been appointed as the new brand ambassadors of the Incredible India campaign. They will succeed Aamir Khan.

• Big B is also the brand ambassador of Gujarat Tourism.
• Aamir Khan promoted the country as a tourist destination for 10 years, under Govt's campaign.

Pavel Filip designated as the Prime Minister of Moldova

Parliament of Moldova has accredited Pavel Filip as the 3rd Prime Minister of European nation in less than a year.

• Moldova is a small and poorest of Europe.
• It was in a political turmoil after the fraudulent disappearance of 1 billion US dollars from the banking system and then government was brought down in a no-confidence vote in October 2015.

The appointment follows the rise and fall of two prime ministers in 2015, namely Chiril Gaburici (June 2015) and Valeriu Strelet (October 2015).

• Pavel Filip, a member of the main pro-European coalition and a former IT and communications minister in the last government.

SCIENCE & TECHNOLOGY

TranServ launches India's first social mobile wallet Udio

Digital payment company, TranServ has launched India's 1st Social Mobile Wallet, "Udio", which enables squaring of dues, sharing dinner bills or a cab ride a hassle free task

• Udio Wallet integrates a social, community-driven aspect with anytime, anywhere accessibility to digital P2P transactions via its secure and seamless payment structure.
• Every Udio wallet comes with a VISA Pre-Paid Card linked that is powered by Ratnakar Bank allowing Udio users to leverage the wallet's payments facility with over 1 lakh merchants across the country.

TranServ aims to boost mobile wallet usage for mobile users in its aim to make India a cashless economy.

ENVIRONMENT

New tree frog genus named Frankixalus discovered in north-eastern India

Indian biologist Sathyabhama Das Biju with his team has discovered a new genus of tree hole-breeding frogs named Frankixalus in the forests of northeast India and bordering parts of China.

• Sathyabhama Das Biju is popularly known as the frogman of India.
• The new genus has been named after Professor Franky Bossuyt of Brussel based Vrije Universiteit for his contribution in amphibian research.
• This genus lives in pools of water in the trunks of canopy trees especially in tree holes.
• These frogs eat their mother's eggs for sustenance.

SPORTS

UP won Syed Mushtaq Ali Trophy

Syed Mushtaq Ali title has been bagged by the Suresh Raina-led Uttar Pradesh by defeating Irfan Pathan-led Baroda with 38 runs in Mumbai.

• This is Uttar Pradesh's first Syed Mushtaq Ali title.

Roger Federer Wins 300th Grand Slam Singles Match

World Number 3, Roger Federer (34) clinched his 300th win in grand slams after defeating his Bulgarian challenger Grigor Dimitrov by 6-4, 3-6, 6-1, 6-4 to reach the fourth round of the Australian Open.

• Only Martina Navratilova (306) stands in front of him.

OBITUARY

Noted danseuse Mrinalini Sarabhai passed away

Noted danseuse and Padma Bhushan recipient Mrinalini Sarabhai passed at the age of 97. She was trained in Bharatanatyam, Kathakali and Mohiniyattom.

• She was married to the architect of India's space programme, Dr Vikram Sarabhai.
• Apart from classical dancer, she was a poet, writer and environmentalist and played a leading role in the social and art scene in Ahmedabad.
• She was one of the first classical dancer to turn to choreography.

BOOKS & AUTHORS

PM releases unique illustrated version of Shri-Durga-Saptashati

The Prime Minister, Shri Narendra Modi, released a unique, illustrated version of Shri-Durga-Saptashati an illustrated book of the glory of the Goddess.

• The book has been compiled by Dr. Sandeep Joshi, a research scholar from Rajasthan.