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Current Affairs Quiz–6 6th September, 2017

Current Affairs – 6th September, 2017

  1. BRICS Summit 2017 highlights: GST is India’s biggest ever economic reform, says PM Modi
  •  The ninth edition of the BRICS Summit, underway in Xiamen, China is centered around the theme of ‘Stronger Partnership for a Brighter Future’.
  • It ended with the heads of five member states — Brazil, Russia, India, China and South Africa — discussing several issues such as terrorism, trade, cooperation.
  • Terror groups such as LeT and the JeM were named for causing violence in the region, a first by the forum.
  • Four documents, including on economic and trade cooperation, were signed by the BRICS countries today with an aim to deepen commercial ties among the grouping’s members.
  • Apart from the action agenda on economic and trade cooperation, the three other documents signed were action plan for innovation cooperation (2017-2020), strategic framework of BRICS customs cooperation and Memorandum of Understanding between the BRICS Business Council and the New Development Bank on Strategic Cooperation.
  • Modi suggested 10 commitments to be made by the BRICS nations, including counter-terrorism efforts, for their role in global transformation. The commitments included creating a safer world, creating a greener world, creating an enabled work, creating an inclusive world, creating a digital world, creating a healthier world, creating an equitable world, creating a connected world and creating a harmonious world.

  1. India signs 11 agreements with Myanmar
  • India and Myanmar today signed 11 agreements in a range of sectors, including one on maritime security cooperation, to further strengthen their multifaceted partnership. The MoUs were signed after Prime Minister Narendra Modi held wide-ranging talks with Myanmar’s State Counsellor Aung San Suu Kyi.
  • India and Myanmar signed an MoU to strengthen maritime security cooperation. The two sides also signed an agreement for sharing white shipping information to improve data sharing on non-classified merchant navy ships or cargo ships.
  • The 11 MoUs also include one between the Election Commission and Union Election of Myanmar, the national level electoral commission of Myanmar. An MoU was also signed to organise cultural exchange programme for the period 2017-2020, according to a statement issued by Ministry of External Affairs.
  • The two countries also signed agreements on cooperation between Myanmar Press Council and Press Council of India, extension of agreement on the establishment of India-Myanmar Centre for Enhancement of IT skill.
  • They also signed agreements to cooperate in ‘Medical Products Regulation’ and in the field of health and medicine. Also an MoU signed on enhancing the cooperation on upgradation of the women’s police training centre at Yamethin in Myanmar.
  • This is Modi’s first bilateral visit to Myanmar. He had visited the country in 2014 to attend the ASEAN-India Summit. Myanmar is one of India’s strategic neighbours and shares a 1,640-km-long border with a number of north-eastern states including militancy-hit Nagaland and Manipur.

.  Yogi Adityanath, Rajnath Singh flag off Lucknow Metro

  • First run of of the much awaited Lucknow Metro was flagged off by Union home minister Rajnath Singh and Chief Minister Aditya Nath Yogi at the Transportnagar Metro station
  • The CM said that instead of an individual Metro corporation for every district, an umbrella corporation Uttar Pradesh Metro Rail Corporation (UPMRC) would be set up to supervise construction in each of the places.
  • Metroman of India and principal advisor to LMRC E Sreedharan said that though seven Metro systems were operating in India right now, Lucknow Metro would be credited as the one which became operational in the shortest time.

  1. NHAI awards first international project in Myanmar to Punj Lloyd-Varaha
  • The National Highway Authority of India has awarded its first international project in Myanmar to a joint venture of Punj Lloyd-Varaha.
  • This is for the upgradation of the Yagyi–Kalewa section in Myanmar to two lanes with earthern shoulder in the engineering, procurement, and construction mode.
  • Punj Lloyd-Varaha’s bid was identified as the most competitive among four qualified bidders. It was at Rs.1,177 crore or 0.0017 per cent lower than the estimated cost.

  1. 10th Indo-Nepal Joint Exercise Surya Kiran Commences
  • Indo-Nepal Joint Military Exercise Surya Kiran-X commenced at Army Battle School, Saljhandi, Nepal. It is the tenth in the series of such exercise between the two nations and is scheduled from 31 October to 13 November 16.
  • The Surya Kiran series of Exercises are being conducted annually, alternatively in Nepal and India. Notably in the series of military training exercises undertaken by India with various countries, Surya Kiran series with Nepal is the largest in terms of troop’s participation.
  • The Joint Battalion Level Exercise will enhance defence co-operation and relations between the two nations. It is an ideal platform for the contingent of both nations to share their experience and gain mutually. The Exercise will be yet another step towards taking traditional friendship between the two nations to greater heights.

  1. Sushma Swaraj arrives in Russia for third Eastern Economic Forum
  • External Affairs Minister Sushma Swaraj arrived in Russian port city of Vladivostok on a three-day visit to attend the third Eastern Economic Forum which will deliberate on pressing issues relating to global trade.
  • She will also hold bilateral talks with her Russian counterpart Sergei Lavrov during which various issues relating to trade, investment and defense cooperation are likely to figure.
  • The Eastern Economic Forum is considered as the biggest international communication platform for cooperation between businesses leaders and senior government representatives from Russia, the Pacific Region and the Association of Southeast Asian Nations (ASEAN).
  • Delegates from at least 24 countries including the US, Japan, China, Australia, Canada, Britain and Germany are attending the gathering .

  1. Narayana Murthy receives PLuS Alliance Prize
  • Infosys Co-founder N R Narayan Murthy and Mumbai-born scientist Veena Sahajwalla have been conferred the PLuS Alliance Prize – a prestigious honour that recognises Research Innovation, Education Innovation, Global Leadership and Global Innovation.
  • The Prize of USD 50,000 was awarded in two categories; Education Innovation and Research Innovation.
  • Both winners were recognised for the development and implementation of innovative solutions to significant global issues.
  • Murthy was presented the PLuS Alliance Prize for Global Leadership while Professor Sahajwalla was awarded the PLuS Alliance Prize for Research Innovation for her project ‘The new science of green manufacturing.
  • The awards were presented to Murthy, Sahajwalla and the other winners by Professor Sir Malcolm Grant, Chairman of NHS England and Chair of the PLuS Alliance Advisory Board, at a ceremony at the T-H-E World Academic Summit in London.
  • The PLuS Alliance is an international collaboration between Arizona State University, King’s College London, and UNSW Sydney.
  • Launched in February 2016, it enables research-led solutions to global challenges while expanding access to world-class learning.

  1. China hits booming cryptocurrency market with coin fundraising ban
  • China banned and deemed illegal the practice of raising funds through launches of token-based digital currencies.
  • The move was targeted at so-called initial coin offerings (ICO) in a market that has exploded since the start of the year.
  • ICOs have become a bonanza for digital currency entrepreneurs, globally and in China, and have provided the fuel for a rapid ascent in the value of cryptocurrencies this year that has driven fears of a bubble that could burst.
  • In total, $2.32 billion has been raised through ICOs, with $2.16 billion of that being raised since the start of 2017, according to cryptocurrency analysis website Crypto compare.

  1. Reliance General Insurance gets IRDA nod for IPO
  • Reliance General Insurance Company, a 100 per cent subsidiary of Reliance Capital Limited, received in-principle approval from Insurance Regulatory and Development Authority of India for the process of its proposed IPO, becoming second private sector general insurance company to list.
  • The company is looking to list in FY18. ICICI Lombard is likely to list this financial year as well.
  • It had reported 41 per cent growth in the last financial year with gross direct premium stood at Rs 3,935 crore in the year ended March 31, 2017. RGI provides a wide range of general insurance products like fire, motor, health, home, crop, travel etc.

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