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Current Affairs Quiz –25 25th August, 2017

  1. Karnataka ropes in Microsoft to help farmers
  • Karnataka Agriculture Department has signed a Memorandum of Understanding with Microsoft India to develop a unique “farm price forecasting model” using latest IT tools in a bid to help farmers, administrators and other stakeholders to understand the market behavior in advance.
  • The proposed initiative is said to be the first-of-its-kind in the country as it is a “multi-variate” one that takes into consideration various factors beyond the conventional supply-demand equation while forecasting the prices for crops.
  • It will examine a slew of related factors including weather, rainfall and external factors that impact market behavior.
  • The model is expected to be in place for major crops by next kharif crops.
  • Microsoft has already taken up 100-day work on the price behavior of onion and tur dal. Depending upon the outcome of this work, the price forecasting model would be applied to other crops later .
    1. Dhanlaxmi Bank, DHFL Pramerica tie up for bancassurance
    • DHFL Pramerica Life Insurance Company has signed on Kerala-based Dhanlaxmi Bank as its bancassurance partner, under which the latter will distribute retail and group life insurance products to its customers across 260 branches in India.
    • With this tie-up, the company is in a strong position to consolidate its presence in Kerala, Tamil Nadu, Andhra Pradesh and Karnataka.
    • G Sreeram, is the Managing Director and CEO, Dhanlaxmi Bank.

    1. Nandan Nilekani back at Infosys, named as Chairman of Board
    • Nandan Nilekani, the celebrated technocrat who seeded the idea of a unique identification number for every Indian, has returned to Infosys to restore the lustre of the country’s second-largest software services firm, replacing R Seshasayee, who resigned as chairman of the board.
    • Nilekani’s return, one of the most dramatic comebacks in recent corporate history, marks the second instance of a retired co-founder being handed the reins to steer the marquee corporation out of trouble. In 2013, iconic founder NR Narayana Murthy had returned to stem the tide of faltering growth at the company.
    • Nilekani, 62, who helped found the company once regarded as the bellwether for India’s $150-billion technology outsourcing industry, will take charge as Infosys’ non-executive, non-independent chairman at a time when the company faces a raft of internal challenges in addition to the threat of slowing growth for Indian IT services companies.

    1. Ronaldo first to be named Men’s player of the year for three times.
    • Real Madrid forward Cristiano Ronaldo won The Union of European Football Associations (UEFA) Men’s Player of the Year award for the 2016-17 season.
    • Ronaldo picked up the trophy for the second consecutive season and third time in total.
    • Ronaldo received 482 points in the poll, with Messi (141 votes) and Buffon (109 votes) finishing second and third respectively.
    1. UIDAI launches door step Aadhar enrolment in Delhi
    • UIDAI has joined hands with CSC India for launching door step enrolment facility in the national capital for the elderly, patients and others who cannot travel the Aadhar centres.
    • CSC India provides permit and monitors operations of common service centres across India which are meant to provide government services in rural area. There are about 2.5 lakh CSCs operational across country.
    1. Bilateral Meeting between India & Uzbekistan held in New Delhi
    • The Commerce and Industries Minister, Mrs. Nirmala Sitharaman and Mr. Abdulaziz Kamilov, Minister of Foreign Affairs and Mr. Elyor Ganiev, Minister of Foreign Trade held detailed discussions on deepening trade and economic ties between India and Uzbekistan in a bilateral meeting held 2017 in  New Delhi.
    • Commerce Minister expressed happiness on formation of an Uzbek India Trading House at Delhi as a Joint Venture Company.
    • Commerce Minister requested Uzbek Minister to become member of multilateral INSTC Agreement which would facilitate increased international transit cargo traffic through Iran.
    • Commerce Minister requested Uzbek Minister for reduction of import duty on leather goods and footwear in Uzbekistan from current 30% to 10%, which is current MFN rate in India.

    1. Indian Navy Band to participate in International Military Music Festival in Moscow
    • The International Military Music Festival “Spasskaya Tower” is the parade of the best military music bands of Russia and other countries that takes place every year at Red Square in Moscow.
    • This Music Festival is a mega event, where military musicians represent the variety of national, artistic and military traditions of the world.
    • Every year about 1500 musicians, military men and other artists from around 40 countries perform at the “Spasskaya Tower”. The Festival is duly considered one of the largest international events in Russia and attracts tremendous response of the general public.
    • “Spasskaya Tower” is scheduled this year from 24 Aug to 03 Sep 17.
    • A Tri-Services band from the Indian Armed Forces has also been invited to participate and perform in the prestigious event. The participation of the Tri- Services Band would foster better ties between the Armed Forces of the two countries and is also a befitting acknowledgment of the professional skills of the Indian Armed Forces bands.

    1. Raghuram Rajan pens book on RBI stint in ‘turbulent times’
    • Raghuram Rajan explains economic concepts and talks of issues like tolerance and connection between political freedom and prosperity in his new book, which is a collection of essays and speeches during his stint as RBI head.
    • When Mr. Rajan took charge as governor of the Reserve Bank of India in September 2013, the rupee was in free fall, inflation was high, India had a large current account deficit, and exchange reserves were falling.
    • As measure after measure failed to stabilize markets, speculators sensed a full-blown crisis and labeled India one of the Fragile Five economies.
    • Rajan’s commentary and speeches in “I Do What I Do: On Reform, Rhetoric & Resolve” convey what it was like to be at the helm of the central bank in those turbulent but exciting times.
    • The book will hit stores on September 4.


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