16 November 2018 - Daily Current Affairs


16 November 2018 - Daily Current Affairs

16 November 2018 - Daily Current Affairs

1. International Day for Tolerance observed today

  • Every year on 16 November, the international community celebrates the International Day for Tolerance with activities that target both educational institutions and the general public.
  • The International Day for Tolerance is an annual observance day declared by UNESCO in 1995 to generate public awareness of the dangers of intolerance.
UNESCO-Madanjeet Singh Prize for the Promotion of Tolerance and Non-Violence
  • The UNESCO-Madanjeet Singh Prize for the Promotion of Tolerance and Non-Violence rewards significant activities in the scientific, artistic, cultural or communication fields aimed at the promotion of a spirit of tolerance and non-violence.
  • The Prize may be awarded to institutions, organizations or persons, who have contributed in a particularly meritorious and effective manner to tolerance and non-violence.
  • The 2018 winners are the social entrepreneur and filmmaker Manon Barbeau (Canada) and the Coexist Initiative, a non-profit organization working to end violence against women (Kenya).
Source: UN

2.  World Philosophy Day observed on 15th Nov 2018

  • World Philosophy Day was proclaimed by UNESCO to be celebrated every 3rd Thursday of November.
  • It is a day for people to share thoughts, openly explore and discuss new ideas and inspire public debate or discussion on society’s challenges.
  • In 2002, UNESCO first declared the third Thursday in November to be world philosophy day.
Source: UNESCO

National Affairs

3. Cyclone Gaja expected to strike today in Tamil Nadu

  • Parts of coastal Tamil Nadu and Puducherry will begin to get widespread rainfall as Cyclone Gaja comes closer to the Tamil Nadu coast.
  • According to officials of the meteorological department, Gaja now lies over the Bay of Bengal, about 510 km east-northeast of Nagapattinam and 430 km east-southeast of Chennai.
  • “This cyclone too is unique and variations in movement is one of its characteristics.
  • It can be compared to Cyclone Madi that crossed the T.N. coast in December 2013
Source: The Hindu

4. Delhi Police Commissioner launches e-learning portal 'NIPUN'

  • In consonance with the spirit of digital India, the Delhi Police on 13th November launched an e-learning portal 'NIPUN' to impart in-service training to its personnel.
  • The e-learning portal aims at imparting online training and information through specialized courses designed by experts.
  • It will benefit the police officers investigating various cases by providing online resource and information on the law, standing orders, investigation checklists, forms for case files, latest High Court and Supreme Court rulings.
Source: business standard

5. Jharkhand celebrates 18th foundation day on 15th November 2018

  • Jharkhand state celebrated its 18th foundation day on 15th November 2018.
  • The Jharkhand state was carved out of the southern part of Bihar on 15 November 2000.
  • President Ram Nath Kovind and Prime Minister Narendra Modi extended greetings to the people of Jharkhand on the occasion of 18th foundation day of the state.
  • Chief minister Raghubar Das declared Jharkhand open defecation free (ODF).
  • A total of 20 states have been declared open defecation free.
Source: Zee News 

6. NITI Aayog sets up Himalayan State Regional Council

  • In a bid to ensure sustainable development of the Himalayan region, NITI Aayog on 15th November constituted the Himalayan State Regional Council.
  • The council, which will be chaired by VK Saraswat, Member, NITI Aayog, will consist of Chief Secretaries of the 12 Himalayan States as well as secretaries of central ministries, among others.
  • It will review and implement identified action points based on the reports of five working groups.
  • The Council will also act as the nodal agency for sustainable development in the Himalayan region which has 12 States, including Jammu and Kashmir, Uttarakhand and Himachal Pradesh.
Source: The Hindu BusinesLine

7. India to add 14 lakh IT jobs in New-Age technologies by 2027: Cisco study

  • India is likely to add over 1.4 million new IT jobs by 2027 finds a joint study by Cisco and International Data Corporation (IDC).
  • This represents a 46% growth in jobs primarily driven by emerging technologies like cybersecurity, Internet of things (IoT) and Big Data, which are the digital transformation skills that organizations are seeking.
  • According to the findings, jobs like social media administrator, Machine Learning (ML) designer and IoT designer are among the most in-demand job roles in the country in the coming years.
Source: The Economic Times

Banking & Finance

8. Fitch retains rating for India at ‘BBB-’

  • Fitch Ratings on 15th November retained India’s sovereign rating at ‘BBB-’, the lowest investment grade rating, although maintaining its stable outlook.
  • The agency added that the economy would shrug off any lingering effects of demonetization and GST during 2018-19 and 2019-20.
  • “Fitch forecasts growth to rebound to 7.3% in FY19 and 7.5% in FY20.
  • Fitch had last upgraded India’s sovereign rating from BB+ to BBB- with a stable outlook on August 1, 2006.
  • The Fitch gave the country its first sovereign rating upgrade since 2004.
Source: The Hindu

9. Sunil Mehta panel incorporates 'Sashakt India AMC' for large NPAs

  • Sunil Mehta, the chairman of a bankers' panel working on a faster resolution of stressed assets in public sector banks, said an asset management company (AMC) for resolving large bad loans has been formed and will be called as Sashakt India Asset Management.
  • He also said that the panel is now working towards identifying potential investors for an alternative investment fund (AIF) which will fund the AMC.
Note:
  • The government in July has proposed a five-pronged strategy under Project Sashakt to tackle stress in the banking sector, and had formed a panel led by Mehta, the non-executive chairman of Punjab National Bank (PNB).
  • Under the project, the committee had to float an AMC and an AIF to resolve non-performing assets (NPAs) over Rs 500 crore.
  • The Mehta committee comprises representatives of all major banks, including State Bank of India (SBI).
  • There are about 200 bad loan accounts which owe more than Rs 500 crore each to banks at present, with a total exposure of about Rs 3.1 lakh crore.
Source: The Economic Times 

10. RBI imposes fines on Deutsche Bank, J&K Bank

  • The Reserve Bank of India has imposed a ₹3-crore fine each on two lenders —- Deutsche Bank and Jammu and Kashmir Bank — for non-compliance of various norms, including asset classification and know your customer norms.
  • The RBI said the penalties on these two banks have been imposed taking into account the failure of the banks to adhere to the directions issued by it.
Source: The Hindu BusinesLine

11. New SB scheme from Karnataka Bank

  • Karnataka Bank has introduced a new savings bank (SB) scheme ‘KBL SB – TASC’, a specialized product for trusts, associates, societies, and clubs.
  • Under the nationwide CASA campaign from November 15 to February 28, the bank intends to open more than 4.18 lakh current and savings accounts with the active involvement of its 8000-plus workforce in all the 823 branches across the country.
Source: The Hindu BusinesLine

International Affairs

12. UNSC Lifts Sanctions Against Eritrea After 9 Years

  • The U.N. Security Council on 14th November lifted sanctions imposed on Eritrea nine years ago, rewarding its improved relations with Ethi­o­pia and other neighboring countries, though concerns about its human rights record remain.
  • It was hailed as a historic moment in the history of the conflicted Horn of Africa.
  • The sanctions were put in place in 2009 after U.N. experts said Eritrea was arming and training al-Shabab and other militants seeking to undermine the government in Somalia.
  • The Eritrean government denied the allegation and primarily attributed the sanctions to U.S. opposition.
  • It has been several years since the United Nations has offered any evidence to support the claim against Eritrea.
Source: The Washington Post

13. Australia takes India to WTO over sugar subsidies

  • Australia said on 16th November that it was taking legal action against India at the WTO over sugar subsidies, alleging that it caused a “significant downturn” in world prices and hurt Australian producers.
  • Australia alleges that the subsidies, which have seen Indian sugar production leap from an average 20 million tonnes to 35 million tonnes this year, far exceed the level of farmer assistance permitted under WTO rules.
  • The announcement came two days after Prime Minister Scott Morrison met his Indian counterpart Narendra Modi in Singapore on the sidelines of the East Asia Summit during which the two leaders discussed the issue.
Source: The Hindu BusinesLine
Summit & Conference

14. World Tolerance Summit inaugurated in Dubai

  • The World Tolerance Summit opens in UAE, Dubai for the first time.
  • The two-day summit is being held in line with the UN’s International Day of Tolerance.
  • The theme of the Summit was ‘Prospering from Pluralism: Embracing Diversity through Innovation and Collaboration’.
  • The interactive sessions will also focus on how technology and global networking can bring about positive change in people’s lives.
Source: APN News

Sports

15. Former Chelsea and England midfielder Joe Cole announces retirement

  • Former England midfielder Joe Cole announced his retirement after making more than 700 appearances for seven clubs including West Ham and Chelsea.
  • Cole, who turned 37 last week, said his career had been "a dream come true" and he now hopes to move into coaching.
  • Cole made 716 professional appearances, scoring 104 goals for seven clubs and his 56 England caps spanned across three World Cup tournaments.
  • He made his international debut aged 19 when he was earmarked as one of England's brightest young talents at the Hammers.
Source: Firstpost

Obituaries

16. Asia’s first woman neurosurgeon, T.S. Kanaka, dies at 86

  • Asia’s first woman neurosurgeon, T.S. Kanaka, died in Chennai after a brief illness. She was 86 years old.
  • Kanaka, who retired as professor of Neurosurgery, Institute of Neurology, Madras Medical College (MMC), in 1990, was known to have inspired many women to take to the field of neurosurgery in the country.
  • “She was the third woman neurosurgeon in the whole world.
  • She has inspired at least 75 to 80 women to become neurosurgeons in the country.
  • She also served as an army medical officer for two years during the Indo-China war.
Source: The Hindu
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