Important Current Affairs – 22-07-2017

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National News:-

1)India to Host Global Conference on Cyber Space 2017:-

  • India will be hosting the 5th Global Conference on Cyber Space (GCCS) in 2017, one of the world’s largest conferences on Cyber Space and related issues.
    • Themed on ‘Cyber4All: An Inclusive, Sustainable, Developmental, Safe and Secure Cyberspace’, the GCCS 2017 will be inaugurated by the Hon’ble Prime Minister of India Shri Narendra Modi.
    • The conference to take place on 23rd & 24th of November 2017 in New Delhi.

2)Ministry of Rural Development to launch Aajeevika Grameen Express Yojana:-

  • The Ministry of Rural Development will launch a new sub-scheme under Deendayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY-NRLM) which will be named as “Aajeevika Grameen Express Yojana (AGEY)”
    • This will provide safe, affordable and community monitored rural transport services like e-rickshaws, 3 and 4 wheeler motorised transport vehicles to connect remote villages with key services and amenities including access to markets, education and health for the overall economic development of the area.

3)Odisha CM dedicates longest bridge to nation:-

  • Odisha Chief Minister Naveen Patnaik dedicated to the nation the state’s longest bridge and named it after Netaji Subhas Chandra Bose.
    • The 2.88 km bridge over the river Kathajodi will connect the state capital of Bhubaneswar with Cuttack reducing the distance between the two cities by 12 km.
    • It will usher in a new era in the twin city links by reducing distance and commuting time for the citizens. It will stand as a symbol of our constant efforts towards development of modern infrastructure for growth and progress of the state and our people.

International News:-

1)Cabinet approves MOC in respect of tax matters between India and BRICS countries:-

  • The Union Cabinet has given the approval for the signing of Memorandum of Cooperation (MOC) in respect of tax matters between India and the Revenue administrations of BRICS countries namely, Brazil, Russian Federation, China and South Africa.
  • The MoC aims to further promote cooperation amongst the BRICS Revenue administrations in international forum on common areas of interest in tax matters and in the area of capacity building and knowledge sharing.
  • It envisages regular interaction amongst the heads of Revenue administration of BRICS countries to continue discussion on common areas of interest and strive towards convergence of views and meeting of the Experts on tax matters to discuss the contemporary issues in areas of international tax.
  • In addition, the MoC accords confidentiality and protection to information exchanged under this MoC.

2)IRDAI’s admission as a signatory to International Association of Insurance Supervisors (IAIS):-

  • The Union Cabinet has given its ex-post facto approval for IRDAI’s admission as a signatory to International Association of Insurance Supervisors (IAIS), Multilateral Memorandum of Understanding (MMoU).

Facts:-

  • MMoU provides a formal basis for cooperation and information exchange between the Signatory Authorities regarding the supervision of insurance companies where cross-border aspects arise.
  • The scope of the IAIS MMoU is wider than the existing agreements as this agreement also provides for supervision of other regulated entities such as insurance intermediaries under Anti Money Laundering, (AML) and Combating the Finance of Terrorism (CFT).

About IAIS:-

  • The International Association of Insurance Supervisors is a global framework for cooperation and information exchange between insurance supervisors.
  • International Association of Insurance Supervisors, Multilateral Memorandum of Understanding is a statement of its signatories’ intent to cooperate in the Field of information exchange as well as procedure for handling information requests.

Economic News:-

1)BoB signs MoU with DGS&D for services to govt’s e-marketplace:-

  • Bank of Baroda has entered into an agreement with Directorate General of Supplies & Disposal (DGS&D) for extending various banking services to Government e-Marketplace (GeM).
    • DGS&D has been mandated to set up GeM, an initiative intended to bring greater transparency and efficiency in public procurements.
    • The Cabinet had in April 2017 approved creation of GeM Special Purpose Vehicle (SPV), which will replace DGS&D, nodal purchase organisation of the central government.

2)India Partners With Israel to Develop Missile Defense System:-

  • The Indian Army has signed a memorandum of understanding with the Defense Research and Development Organization (DRDO) to raise a regiment of advanced Medium Range Surface to Air Missiles (MRSAMs) capable of shooting down ballistic missiles and aircraft.
    • DRDO will partner with Israel Aerospace Industries (IAI) and private sector players to deliver this air defense system, which marks a paradigm shift in the capabilities of the Indian Army.
    • The total cost of the project is estimated at $2.5 billion and was approved earlier this year by the government of Prime Minister Narendra Modi.

Appointments:-

1)Lord Davies Appointed Chair Of The UK India Business Council:-

  • Lord Davies is set to replace The Rt Hon Patricia Hewitt as Chair of the UK India Business Council (UKIBC).
    • He will take up this role from 1st September 2017, initially to serve a three-year term. Patricia Hewitt will be stepping down after 8 years in the role.

2)Gopal Baglay appointed Joint Secretary in PMO:-

  • Senior diplomat and c Gopal Baglay was appointed as joint secretary in the Prime Minister’s Office.
    • He was appointed in place of Vinay Mohan Kwatra, who has been already named as India’s Ambassador to France.
    • Raveesh Kumar, a 1995-batch IFS officer, currently posted in Frankfurt as Consul General of India, is to be replacing Baglay in the external affairs ministry.

3)UK govt appoints Brenda Marjorie Hale as first female President of SC:-

  • The UK government has appointed Brenda Marjorie Hale as the first female President of the Supreme Court, the senior-most judge of the country.
    • Baroness Hale, 72, will take charge as the head of Britain’s top judging panel in September following the retirement of current President, Lord Neuberger.
    • She has served as Neuberger’s deputy since 2013.

Sports:-

1)Chennai Open renamed Maharashtra Open, to be held in Pune:-

  • India’s most celebrated tennis event, the ATP tournament which acquired heritage status as the ‘Chennai Open’, will now be held in Pune next year and would be henceforth called “Maharashtra Open.
    • IMG-Reliance, the right holders of the tournament along with Government of Maharashtra and Maharashtra State Lawn Tennis Association (MSLTA), made the announcement.