Daily GK Update – Current Affairs – 8th January 2016

1. Rajan is The Banker’s central banker of the year

i. Reserve Bank of India (RBI) Governor Raghuram Rajan was named The Banker magazine’s Global and Asia-Pacific Central Bank Governor of the Year 2015, for stabilising the Indian rupee, initiating key reforms to attract much needed foreign capital in the country and reining in a runaway price appreciation. The Banker is a prestigious monthly magazine of the Financial Times Group.

ii. “India is the one global economy that arguably weathered the capital outflow and currency storms in emerging markets that were fuelled by uncertainty over the US Federal Reserve interest rate hike in 2015,” the magazine said in its article on Rajan.

iii. The RBI governor has been named central bank governor of the year several times by other international magazines. In October 2014, Euromoney and in January 2015, Central Banking awarded him the best central banker award for his contribution in stabilising the Indian economy.

iv.  After he took over in September 2013, the first priority for the RBI governor was to stabilise the local currency, which hit a record low of 68.87 a dollar on August 28. Through a series of innovative measures, including attracting dollars from non-resident Indians by offering higher interest rate on deposits, Rajan stabilised the rupee. The local currency soon moved back below the psychological level of 60 a dollar.

v. Steps like offshore rupee bonds, nicknamed Masala Bonds, and RBI’s efforts in pushing green bonds were two other key achievements of Rajan, the magazine noted. The magazine also noted Rajan’s efforts in cleaning banks’ balance sheets from bad debts and introducing 23 new sets of banks in 2015.

2. Overseas Indian Affairs Ministry, MEA merged

i. In order to avoid duplication of work and to improve efficiency, the government on Thursday merged the Ministry of Overseas Indian Affairs (MOIA) with the Ministry of External Affairs. Announcing the merger, External Affairs Minister Sushma Swaraj tweeted on Thursday, “As Minister of External Affairs and Overseas Indian Affairs, I realised that a substantial work of MOIA is done through our missions abroad. Therefore, I proposed to Hon’ble Prime Minister that MOIA should be merged with the Ministry of External Affairs.”

ii. Sources, however, indicated that the decision to merge MOIA with MEA was taken as senior diplomats wanted officials dealing with foreign workers-related issues and emergencies to have better diplomatic back-up and coordination.

iii. Explaining the official line, a spokesperson of MEA said the merger of MOIA was to avoid “duplication” as most of the work of MOIA was done by Indian missions abroad. “Even the information for answering the questions related to MOIA in Parliament used to be provided by the Indian missions,” said the spokesperson.

iv. But reportedly, the MEA, which has been short of staff, wanted greater number of officials with diplomatic experience in key positions in MOIA to deal with emergencies involving Indians in various crisis-prone countries in West Asia. The merger is expected to increase efficiency in MEA’s emergency work abroad.

v. The post of Protector General of Emigrants is responsible for issuing registration certificates to recruitment agents who send workers abroad, especially to the Gulf region.

3. Indo-French military exercise Shakti-2016 started

i. India and France on 8 January 2016 started their eight-day counter-terrorism and counter-insurgency joint exercise Shakti-2016 in Rajasthan. This is the third edition in the series of bilateral exercises under this banner and is being held in Mahajan Field Firing Ranges in Rajasthan’s Bikaner.

ii. The exercise will be focused on counter terrorism operations in backdrop of semi-urban terrain under United Nations Mandate. It is an important step for the armies to train together and gain from each other’s rich operational experience.

iii. French contingent comprising 56 personnel of 35th Infantry Regiment of 7th Armoured Brigade, which had taken part in the Afghan war, will participate in the Shakti-2016. The contingent led by Major Thibaut De Lacoste Lareymondie arrived Jodhpur on 6 January 2016.

iv. On the other hand, the Indian contingent to participate in the exercise will be the 2nd Battalion of Garhwal Rifles, part of the Sapta Shakti Command. Both countries have troops deployed in counter-insurgency and counter-terrorist operations and therefore sharing each other’s military experiences will pay meaningful dividends.

v. The French 35th Infantry Regiment was raised in 1604 by a member of the gentry from Lorraine whose surname was Nemond. It has at least 12 battle honours to its credit. The battalion has varied combat experiences, having served in Algeria, Africa, Iraq and Afghanistan, amongst other places.

4. First Company of Ganga Task Force deployed Ganga Gram Yojana launched

i. As a major initiative towards fast track implementation of Namami Gange Programme the first company of Ganga Task force Battalion was deployed at Garhmukteshwar yesterday. Speaking on the occasion Union Minister of Water Resources, River Development and Ganga Rejuvenation Sushri Uma Bharti said that three such companies will be deployed soon at Kanpur, Varanasi and Allahabad.

ii. The Minister said the Jawans of the Ganga Task force will be deployed on the banks of the river Ganga to ensure that industry and civilians do not pollute the river. She said that keeping Ganga clean is not the responsibility of our Jawans only but it is the duty of every Indian living near the river to keep it clean.

iii. In the first phase of the progamme 200 villages have been selected. In these villages open drains falling into river Ganga will be diverted and alternative arrangements for sewage treatment will be made. The villages will have toilets in every house hold. It is proposed to incur and expenditure of Rs. One crore on every village.

iv. These villages will be developed under the Sichewal model. It may be noted that Sichewal is situated in Punjab, where cooperation of the villagers has been solicited for the water management and waste disposal in a meticulous way. 

v. Earlier the Minister inspected two under construction sewage treatment plants at Garhmukteshwar. These STPs are expected to be operational by June this year. The Minister also inaugurated Namami Gange Photo exhibition at Garhmukteshwar and administered the pledge to the people to keep Ganga clean. The Minister also reviewed the progress of Namami Gange progamme at Garhmukteshwar with local officials.

5. Sailesh appointed new Registrar General, Census Commissioner

i. Senior IAS officer Sailesh was today appointed as Registrar General and Census Commissioner. 

ii. Sailesh, a 1985 batch IAS officer of Assam-Meghalaya cadre, is presently Additional Secretary in Home Ministry. 

iii. He has been appointed in place of C Chandramouli, who completed his tenure today. 

iv. The Appointments Committee of Cabinet has approved the appointment of Sailesh as Registrar General and Census Commissioner for a period till July 28, 2017, an order issued by Department of Personnel and Training said.

6. Tata Steel bags PM’s trophy

i. Tata Steel has been declared as the winner of Prime Minister’s Trophy for being the ‘Best Performing Integrated Steel Plant’ in the country for the performance year 2013 – 2014. This Award has been conferred on the Company for the eighth time. In addition it has also received Certificate for Excellence twice and Steel Minister’s Trophy once, since this trophy was instituted in 1992-93.

ii. The Company went through three rounds of rigorous assessment, adjudged by a panel of distinguished judges. The enthusiasm and involvement of its employees including the Union Leadership team was highly appreciated by the panel of judges for the Prime Minister’s Trophy, reaffirming the core strength of Tata Steel – its skilled and motivated workforce that has a will to excel.

iii. Tata Steel has always strived to set the benchmark of excellence in efficiency, quality and sustainability in all it’s operations. The Prime Minister’s trophy, instituted in 1992-93 on the suggestion of the then Prime Minister P V Narasimha Rao, recognizes the outstanding performance of the integrated steel plants.

iv. The award is intended to spur steel plants to achieve international standards of efficiency, quality and economy in their operations. The primary objective of the scheme is to generate a sense of competition among the steel plants so that they continuously benchmark themselves with the best and improve their performances.

7. Amitabh Kant appointed as CEO of NITI Aayog

i. Amitabh Kant was on 7 January 2016 appointed as the Chief Executive Officer (CEO) of NITI Aayog. His appointment was approved by the Appointments Committee of the Cabinet (ACC). Kant will take over the office of CEO in March 2016, when he retires from service.

ii. On 1 January 2016, Kant was given the additional charge of the CEO of NITI Aayog following the completion of tenure of previous CEO Sindhushree Khullar on 31 December 2015.

iii. He is a 1980 batch IAS officer of Kerala cadre. Kant is currently serving as the Secretary in the Department of Industrial Policy and Promotion in the Union Ministry of Commerce and Industry.

iv. He has also served as the CEO of India’s largest industrial infrastructure project the Delhi-Mumbai Industrial Corridor Development Corporation. He has also been steering the Union Government’s two major campaigns to attract investments and create jobs – Make In India and Start Up India.

8. Devender Kumar Sikri appointed as Chairman of Competition Commission of India

i. Devender Kumar Sikri was on 7 January 2016 appointed as Chairman of fair-trade regulator Competition Commission of India (CCI). He succeeds Ashok Chawla, whose tenure as the Chairman of CCI ended on 7 January 2016 itself.

ii. Sikri will have a tenure of about two and half years, i.e. till he attains the age of 65 years.

iii. Sikri is a former Indian Administrative Service (IAS) officer of Gujarat cadre. He has held various positions in Centre as well as in his cadre state Gujarat. He superannuated as Secretary, Department of Justice on 31 July 2013.

iv. He had also been Secretary in the Union Ministry of women and child development, Registrar General of Census. He also served as the Collector of Rajkot and Jamnagar.

9. Indigenously Built ASW Corvette INS Kadmatt commissioned in Visakhapatnam

i. Anti-submarine warfare (ASW) corvette INS Kadmatt was on 7 January 2016 commissioned in the Indian Navy at naval dockyard in Visakhapatnam by Chief of the Naval Staff, Admiral R K Dhowan. INS Kadmatt is the second ship of Project 28 (P28) class ASW corvettes and is the latest ship after Shivalik class, Kolkata class and INS Kamorta. In all these ships, an excessive amount of weapons and sensors had been integrated to provide a Common Operational Picture (COP).

ii. The ship was manned by 13 officers and 180 sailors with Commander Mahesh Chandra Moudgil as the first Commanding Officer. The ship is an integral part of the Eastern Fleet under the Eastern Naval Command to safeguard the Eastern Seaboard of India.

iii. It was designed 90 per cent indigenously by the Directorate of Naval Design (DND) and constructed by M/s Garden Reach Shipbuilders and Engineers Ltd. Directorate of Naval Design (DND) is the Navy’s Design Organisation undertaking indigenous design of all surface combatants.

iv. INS Kadmatt is named after one of the large islands amongst the Lakshadweep group of Islands off the west coast of India. The ship had been constructed using high grade steel (DMR 249A) produced in India. With a displacement of 3500 tonnes, the sleek and magnificent ship spans 109 meters in length and 14 meters at the beam.

10. Operation Green Hunt to hunt Maoists

i. Operation Green Hunt, an all-out offensive by India’s paramilitary forces and the state’s forces against the Naxalites came in news on 8 January 2016. The operation which is believed to start in November 2009 along five states in the “Red Corridor” came in news after Maoists called a two-day bandh opposing it in Nuapada, Malkangiri and Kalahandi districts of Odisha.

ii. The bandh call was given by the Mainpur-Nuapada Divisional Committee of the CPI (Maoist). The Committee is protesting against the Operation by security forces against the ultras in the south-western part of the State.

iii. The term Operation Green Hunt was coined by the Chhattisgarh police officials to describe one successful drive against the Communist Party of India (Maoist) in the state. Later, the term was erroneously used by media to describe the wider anti-Naxalite operations. 

iv. On the other hand, Union Government do not use the term Operation Green Hunt to describe its anti-Naxalite offensive. Earlier, the operation also came in news in December 2014 when the outlawed Communist Party of India (Maoist) claimed that the Sukma ambush was answer to Operation Green Hunt. Maoists killed at least 14 Central Reserve Police Force (CRPF) personnel in Sukma district of south Chhattisgarh on 1 December 2014.

11. Union Government allowed traditional bull-taming sports Jallikattu in Tamil Nadu

i. The Union Government on 8 January 2016 allowed the conduct of the traditional bull-taming sports, Jallikattu, in Tamil Nadu. The ban on the sports was lifted few days before the traditional harvest festival will begin in Tamil Nadu. Jallikattu is celebrated around pongal in southern state of Tamil Nadu.

ii. The Union Ministry of Environment, Forest and Climate Change issued a gazette notification with regard to holding traditional sports that use bulls as performing animals including Jallikattu across India.

iii. The notification said that bulls can be exhibited and trained as performing animal at different events of different states as per the customs or tradition of any community.

iv. The events that use bulls as performing animals are Jallikattu in Tamil Nadu and bullock cart races in Maharashtra, Karnataka, Punjab, Haryana, Kerala and Gujarat. But these events are allowed only in those districts where it is being traditionally held annually but with the permission of district collector or the district magistrate. 

v. The notification also specifies that bullock cart race shall be organised on a proper track, which shall not exceed two kilometers. On the other hand, in case of Jallikattu, the moment the bull leaves the enclosure it shall be tamed within a radial distance of 15 metre.

12. Quikr acquired online real estate portal Commonfloor.com

i. Quikr on 7 January 2016 announced acquisition of the property search website Commonfloor.com for an undisclosed amount in a majority stock-swap transaction. Quikr bought the website in a distress sale orchestrated by Tiger Global Management Llc.

ii. After the deal, Quikr will be valued at about 1.5 billion US dollars based on the share-swap ratio. The merger is expected to be completed over the next two to three months. It will also give Commonfloor access to Quikr’s 30 million consumers and harness the potential of the cross-category nature of the platform. QuikrHomes will benefit from CommonFloor’s structured data and domain expert.

iii. Quikr is an Indian classified advertising platform. It was founded by Pranay Chulet in 2008. It is headquartered in Bangalore. It has listings in over 1000 cities in India in categories such as mobile phones, household goods, cars, real estate, jobs, services and education.

iv. CommonFloor.com is an Indian real estate portal founded in 2007 by three computer science graduates from IIT Roorkee and JSSATE. On 8 January 2015, CommonFloor received funding from Google Capital.

13. Miguel Tabuena won Hilton Asian Tour Golfer of the Month

i. The Philippines’ Miguel Tabuena on 7 January 2016 was voted as the Hilton Asian Tour Golfer of Month for December 2015. Tabuena won the award ahead of Thailand’s Phachara Khongwatmai and India’s Himmat Rai. The trio were nominated by a selection panel before going into a voting process.

ii. Born on 13 October 1994, Miguel Tabuena is a Filipino professional golfer. As an amateur golfer, he won the events in Malaysia and Singapore and won the silver medal at the 2010 Asian Games in the men’s individual event.

iii. He turned professional in 2011. He has played on the Asian Tour since 2011 and picked up his first win at the 2015 Philippine Open.

iv. He became the first Filipino to win his National Open since 2008.