Current Affairs: Daily GK Update 16th June 2017

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India tops global remittance-receiving list

i. India has claimed the top spot among the remittance-receiving nations, surpassing ChinaThe United Nations, in its report, stated that Indians working across the globe sent home 62.7 billion US dollars in 2016.
ii. According to the ‘One Family at a Time’ study by the UN International Fund for Agricultural Development, about 200 million migrants globally sent more than 445 billion dollars as remittances in 2016 to their families.

Important Takeaways-
  • 9th Secretary-General of United Nations is Antonio Guterres.
  • Its headquarter is in New York City, USA.

GII Rankings: India 60th most innovative globally, Switzerland tops the list


i. India continued to rise in the Global Innovation Index (GII) rankings for the second year in succession, after four consecutive years of decline. In 2017 rankings released in Geneva (Switzerland), India improved its position from 66 to 60.
ii. Its improvement is part of a trend both in the middle-income countries and Asian countries, many of which have improved their innovation capacities in recent years.

Top three most innovative countries in the list are-
  1. Switzerland
  2. Sweden
  3. Netherlands
Ranking of Neighbouring countries of India-
  1. China (22nd)
  2. Sri Lanka (90th)
  3. Nepal (109th)
  4. Pakistan (113th)
  5. Bangladesh (114th)
Important Takeaways-
  • The first report of GII was released in 2007.
  • Currently, it has 14 Advisory Members.

Centre launches IDCF to reduce child deaths due to diarrhoea

i. The Ministry of Health and Family Welfare has launched the Intensified Diarrhea Control Fortnight (IDCF) in order to intensify efforts to reduce child deaths due to diarrhoea
ii. Through this initiative, the Ministry will mobilize health personnel, State Governments and other stakeholders to prioritize investment in control of diarrhea, one of the most common childhood illnesses.
iii. It aims to create mass awareness about the most effective and low-cost diarrhoea treatment, a combination of Oral Rehydration Salt (ORS) solution and Zinc tablets

Important Takeaways-
  • Jagat Prakash Nadda is the Ministers of Health and Family Welfare of India.

Asian Infrastructure Investment Bank grants USD 150 mn loan for India Infrastructure Fund

i. China-led Asian Infrastructure Investment Bank has approved USD 150 million equity investment loan to the India Infrastructure Fund. It is the bank's first such loan to fund private projects.
ii. The Board of Directors of the AIIB, who met in Jeju in South Korea has approved USD 150 million equity investment to the India Infrastructure Fund. The bank, in which India is a lead partner, has approved two loans and one equity investment totaling USD 324 million to support infrastructure projects in India, Georgia and Tajikistan. 

Important Takeaways-
  • Asian Infrastructure Investment Bank (AIIB) headquarters in Beijing, China.

Yes Bank partners with TerraPay for faster international remittance

i. Private sector lender Yes Bank has partnered with mobile payments switch TerraPay to enable real-time money transfer to bank accounts in India. Powered by TerraPay’s global clearing and settlement service, the partnership will make it faster and convenient for consumers to send money to any bank account.
ii. TerraPay has partnered with Yes Bank in a Rupee Drawing Arrangement which enables TerraPay’s network partners to make instant cross-border money transfer to bank accounts in India.
iii. For bank accounts other than Yes Bank accounts, Yes Bank will disburse funds using the immediate payment service, popularly known as IMPS. The service is available 24X7.

Banking Takeaways-
  • Mr. Rana Kapoor is the Managing Director & CEO of YES Bank.
  • The Bank was founded in 2004.
  • Yes Bank is Headquartered in Mumbai.
  • TerraPay is a Global transaction processing, clearing and settlement service for mobile wallets.

RBI places restrictions on banking activities of Central Bank of India

i. The RBI has placed Central Bank of India under prompt corrective action  (PCA) which puts restricts on banking activities such as from lending, hiring and expanding branches.
ii. According to the RBI, the PCA has been triggered in view of negative return on assets and high ratio of bad loans. So far, RBI has triggered PCAs for four banks – IDBI Bank, UCO Bank, Dena Bank and Indian Overseas Bank. Central Bank has reported loss of Rs 2439 crore for the fiscal year 2016-17.

Banking Takeaways-
  • Shri. Rajeev Rishi is the Chairman & Managing Director of Central Bank of India.
  • CBI is Headquartered in Mumbai.

China launches 1st X-ray space telescope to study black holes

i. China successfully launched its first X-ray space telescope to study black holes, pulsars and gamma-ray bursts. The 2.5-tonne Hard X-ray Modulation Telescope (HXMT), named 'Insight,' was launched from Jiuquan Satellite Launch Center in northwest China's Gobi desert.
ii. It was delivered into orbit, 550km (341 miles) above the Earth, by the Long March-4B rocket.

Important Takeaways-
  • The capital of China is  Beijing and its Currency is Renminbi.
  • The President of China is Xi Jinping.
  • Xichang Satellite Launch Cente is in China.

Neeru Chadha elected as first Indian woman Member of ITLOS

i. Indian nominee Neeru Chadha became the first Indian Woman to be elected as the Member of International Tribunal for the Law of the Sea (ITLOS). Chadha, the international law expert, got 120 votes with the highest in the Asia-Pacific group.
ii. She will have a nine-year term as the Judge at ITLOS from 2017 to 2026. Currently, an eminent jurist from India P Chandrasekhara Rao is a judge at the tribunal. He was elected as the member of the tribunal in 1996 and his term will expire in September 2017.

Important Takeaways-
  • The Hamburg (Germany)-based ITLOS was established in 1996.
  • Ms. Chadha is only the second woman to be the judge of ITLOS in its two decades of existence.

TCS executive Ramanathan Ramanan to head Atal Mission under NITI Aayog

i. The government of India has appointed a senior executive of Tata Consultancy Services Ramanathan Ramanan to head Atal Innovation Mission, its initiative to promote entrepreneurship in the country.
ii. Ramanathan Ramanan, senior vice president at TCS, has been appointed as mission director of Atal Innovation Mission, under the government’s premier think tank NITI Aayog, in the rank of additional secretary on secondment basis from the IT bellwether for two years initially. According to the notification, Ramanan’s appointment will be without pay and allowances.

Important Takeaways-
  • Chairperson of NITI Ayog is Shri Narendra Modi.
  • Vice Chairperson of NITI Ayog is Dr. Arvind Panagariya.

Israeli author David Grossman wins Man Booker International Prize 2017

i. Israeli author David Grossman has won the Man Booker International Prize 2017 for his novel `A Horse Walks Into a Bar'. Grossman beat out five other finalists, including fellow Israeli author Amos Oz for the counterpart to Britain's prestigious Booker Prize.
ii. Grossman's novel is about a failing standup comic and his final performance. The Award has a prize of 50,000 pounds ($64,000) that is split evenly between Grossman and translator Jessica Cohen.

Static Takeaways-
  • Arundhati Roy won the Booker Prize for her brilliant and poetic novel “The God of Small Things” in the year 1997 making her the first Indian to receive the prestigious award.
  • The prize for 2016 Booker prize was awarded to `The Vegetarian' by South Korea's Han Kang.

i. The Fifth Bhupen Hazarika National Award, 2017 has been conferred to an eminent writer from Arunachal Pradesh Yeshe Dorjee Thongshi.
ii. The award consists of 51,000 rupees, a memento and a certificate.
iii. His most important novel is Mauna Onth Mukhar Hriday (Silent lips, murmuring hearts) which won the Sahitya Akademi award in 2005.

Important Takeaways-
  • PM Modi had recently inaugurated India’s longest bridge in Assam, it has been named after Bhupen Hazarika.


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