Daily Current Affairs Update – 11 January, 2017

Hello and welcome to exampundit. Here are the Important Current Affairs Update of 11th January, 2017. These are important for the upcoming RBI Assistant Mains, IPPB Mains and Other exams.

Daily Current Affairs at a Glance – 11 January, 2017

  1. World Bank on 10 January 2017
    released January 2017 Global Economic Prospects report. The report said that
    after a post-crisis low 2016, the global
    economy will accelerate moderately to 2.7 per cent in 2017
    . The World
    Bank’s report has decelerated India’s
    growth to 7 per cent for 2016-17 from its
    previous estimate of 7.6 per cent
    .
  2. With a view to promoting the
    dairy sector and rural livelihoods in Arunachal Pradesh, the border state has signed a
    MoU with National Dairy Development Board (NDDB)
    during the Vibrant Gujarat Global Summit 2017.
  3. Air India on 11 January 2017 launched
    Fly For Sure scheme under which passengers will be offered one-time flight
    change facility on the same day
    . The facility is available for the flight’s
    operation from domestic airports within India.
  4. Telecom operator Bharti Airtel on Wednesday announced the
    appointment of Badal Bagri as chief
    financial officer for its India & South Asia operations
    with effect
    from January 16, 2017.
  5. India and the
    US have signed a Memorandum of Understanding (MoU) for close cooperation
    and exchange of information pertaining to cyber
    security
    .
  6. Union Defence Minister Manohar
    Parrikar on 10 January 2017 inaugurated
    the three-day International Conference and
    Exhibition on Re-enforced Plastics (ICERP) at Bombay Exhibition Center,
    Mumbai
    .
  7. The Union Health Ministry in the
    second week of January 2017 announced that
    it is introducing Rubella vaccine as Measles-Rubella
    vaccine in its Universal Immunization Programme (UIP).
  8. The 21st National Youth Festival will commence from 12 January 2017 in Rohtak, Haryana. The Festival will conclude on
    16 January 2017.
  9. The FIFA Council on 10 January
    2017 unanimously voted to expand the
    FIFA World Cup to a 48-team competition
    .

Financial & Banking News:
World Bank releases January 2017 Global Economic Prospects report

  • World Bank on 10 January 2017
    released January 2017 Global Economic Prospects report. The report said that
    after a post-crisis low 2016, the global economy will accelerate moderately to
    2.7 per cent in 2017.
  • The growth will be carried on
    because obstacles to activity have moved away in emerging market and developing
    economy commodity exporters. It says that the obstacles receded when the
    domestic demand remains solid among emerging and developing commodity. The
    report also highlights that the growth in advanced economies is expected to
    edge up to 1.8 per cent in 2017.
  • The World Bank’s report has
    decelerated India’s growth to 7 per cent for 2016-17 from its previous estimate
    of 7.6 per cent. In its report, the bank said the growth rate of the country
    slowed due to the immediate withdrawal of a large volume of currency in
    circulation (demonetisation) in November 2016 and subsequent replacement with
    new banknotes.
  • In addition to this, the bank
    said that the country would regain momentum in the following years with 7.6 and
    7.8 per cent. It said that several reform initiatives will help in unlocking
    domestic supply bottlenecks and raise productivity.
  • According to the report, India
    maintains the distinction of being the fastest growing emerging market
    economies of the world, bypassing China.

Arunachal signs MoU with NDDB to promote dairy development

  • With a view to promoting the
    dairy sector and rural livelihoods in Arunachal Pradesh, the border state has
    signed a MoU with National Dairy Development Board (NDDB) during the Vibrant
    Gujarat Global Summit 2017.
  • A State Government delegation led
    by Chief Minister Pema Khandu, and including Deputy Chief Minister Chowna Mein,
    Parliamentary Secretary P D Sona, and Chief Secretary Shakuntala Gamlin
    participated in the Summit. It also met NDDB Chairman Dilip Rath at Anand on
    Tuesday in this regard, NDDB said in a release here.
  • The Arunachal Pradesh Government
    showed keenness to take urgent steps for the development of dairying for the
    benefit of milk producers in particular and the cooperative movement in
    general.
  • A memorandum of understanding
    (MoU) was signed to this effect between the State Government and NDDB with the
    aim to boost dairying there. Rath said that NDDB will provide managerial and
    technical support to cooperative institutions so as to enable them better serve
    their members and promote a plurality of new producer institutions that remain
    true to cooperative values.

Air India launches Fly For Sure scheme

  • Air India on 11 January 2017
    launched Fly For Sure scheme under which passengers will be offered one-time
    flight change facility on the same day. The facility is available for the
    flight’s operation from domestic airports within India.
  • The facility was launched with an
    aim to end the worries of missing or rescheduling the flight by paying a hefty
    last-minute fare to reach their destination. Till date, in such cases of change
    passengers were supposed to pay both change fee as well as fare difference.

Features of the ‘Fly For Sure’ scheme
  • Passengers can change the
    schedule (prepone or postpone) of the flight by paying Rs 2000 (including
    taxes) and board any other Air India flight on the same sector. This facility
    of re-scheduling the time of travelling will be available on the same day.
  • To avail the facility the
    passenger will have to make an advance payment through e-Flight Change Facility
    by making an advance payment of a nominal fee of INR 2000 (including taxes) per
    sector up through Electronic Miscellaneous Document (EMD) at the time of
    purchase of the ticket.
  • Applicability: It is applicable
    for passengers travelling in the business or economy class on Air India
    flights.
  • Eligible Flights: The service is
    available only in the sector where alternate flights are available on the same
    day.

Appointments – India and World:
Badal Bagri appointed Airtel’s CFO for India, South Asia

  • Telecom operator Bharti Airtel on
    Wednesday announced the appointment of Badal Bagri as chief financial officer
    for its India & South Asia operations with effect from January 16, 2017.
  • He had previously worked with
    Airtel from 2010 to 2014 and was the chief controller for the consumer business
    as well as the global financial controller.
  • In his last role, Badal was the
    CFO at Aircel. Prior to this, he was the CFO at Micromax.
  • In his new role, Badal will lead
    the Finance teams across India, Sri Lanka and Bangladesh to drive Airtel’s
    growth strategy. He will report to Nilanjan Roy, Global CFO, Bharti Airtel, the
    statement said.

Non-Financial News – India & States:
India, US sign MoU over cyber security

  • India and the US have signed a
    Memorandum of Understanding (MoU) for close cooperation and exchange of
    information pertaining to cyber security.
  • The MoU between Indian Computer
    Emergency Response Team (CERT-In) and US CERT was signed by Electronics and IT
    Secretary Aruna Sundararajan and Richard Verma, the US Ambassador to India.
  • “The MoU intends to promote
    closer cooperation and the exchange of information pertaining to the Cyber
    Security in accordance with the relevant laws, rules and regulations of each
    economy and this MoU and on the basis of equality, reciprocity and mutual
    benefit,” an official statement said.
  • Previously, the two countries had
    signed an MoU on July 19, 2011 to promote a closer cooperation and timely
    exchange of information between the organisations of their respective
    governments responsible for cybersecurity.
  • In continuation to the
    cooperation in cybersecurity areas, both have renewed the MoU, it added.

Union Government inaugurates International Conference & Exhibition
on Re-enforced Plastics
  • Union Defence Minister Manohar
    Parrikar on 10 January 2017 inaugurated the three-day International Conference
    and Exhibition on Re-enforced Plastics (ICERP) at Bombay Exhibition Center,
    Mumbai.
  • ICERP 2017 is being organised by
    FRP Institute, an association of Indian Reinforced Plastics or Indian
    Composites sector.
  • ICERP is organized by FRP
    Institute once in every two years. It is the second largest event in Asia.
  • This will be the 8th exhibition
    in the series being organized by FRP Institute since 2002.
  • The three-day ICERP 2017 event
    will comprise of exhibitions and conference programmes emphasizing on mechanism,
    process and automation.

Union Health Ministry introduces Rubella vaccine in its Universal
Immunization Programme

  • The Union Health Ministry in the
    second week of January 2017 announced that it is introducing Rubella vaccine as
    Measles-Rubella vaccine in its Universal Immunization Programme (UIP).
  • The vaccine will be administered
    to children up to the age group of nine months to 15 years under
    Measles-Rubella Campaign in a phased manner. The campaign will be phased across
    India over a period of two to three years.
  • The Measles-Rubella Campaign aims
    at rapidly building up immunity for both measles and rubella.
  • As per the Union Health Ministry,
    the campaign will start in the first quarter of 2017 and will target about 41
    crore children.

21st National Youth Festival to be held in Rohtak

  • The 21st National Youth Festival
    will commence from 12 January 2017 in Rohtak, Haryana. The Festival will
    conclude on 16 January 2017.
  • The Festival is organised by the
    Department of Youth Affairs of Union Ministry of Youth Affairs and Sports. It
    is organised every year on the birth anniversary of Swami Vivekananda.
  • The Prime Minister Narendra Modi
    will address the participants of the Festival through video conference on the
    occasion of opening ceremony.
  • The theme for the 21st National
    Youth Festival will be Youth for Digital India. The theme highlights the most
    critical and crucial importance of the thrust accorded to the area of
    Digitalisation and Skill Development by Government of India.
  • The Mascot of the festival is
    ‘Lado.’ The mascot reflects the sensitivity of the Haryana Government towards
    the gender inequality in the state. It also signifies bringing women at par
    with men.

Sports News:
FIFA votes to expand World Cup competition to 48 teams

  • The FIFA Council on 10 January
    2017 unanimously voted to expand the FIFA World Cup to a 48-team competition.
  • At the 3rd meeting at the Home of
    FIFA in Zurich on 9 and 10 January 2017, the council decided on a new tournament
    format with the 48 national teams split into 16 groups of three teams. The top
    two teams from each group will then move forward to a 32-team knockout stage.
  • The new format is set to be
    introduced in the year 2026.
  • There will be no reduction in the
    overall number of rest days and a guaranteed maximum of seven matches for the
    teams reaching the final.
  • The council zeroed in on the
    decision following a thorough analysis, based on a report that included four
    different format options.

World News:
China launches first commercial space mission with Kuaizhou-1A rocket
  • China on 9 January 2017
    successfully launched first Chinese commercial mission using an updated version
    of the low-cost Kuaizhou-1A rocket. The mission was launched from northwestern
    China’s Jiuquan Satellite Launch Center in Gansu province.
  • As a part of the mission, three
    satellites namely Jilin Linye-1 forestry satellite (JL-1), CubeSats XY-S1 and
    Caton-1 were launched into space. 
  • JL-1 Satellite is a
    multifunctional remote-sensing satellite which provides for high-definition
    video images.
  • It can be used for environmental
    protection, land resource and forestry surveying, transport and disaster
    prevention and relief purposes.
  • The JL-1 satellite is also known
    as Lingqiao 3. It is part of the Jilin constellation of commercial Earth
    observatories in orbit.

Obituaries:
Veteran British war correspondent Clare Hollingworth dies
  • Clare Hollingworth, legendary
    correspondent who first broke the news of the beginning of World War II, passed
    away on 10 January 2017 following a brief illness. She was 105.
  • She was famously known as the
    doyenne of war correspondents.
  • She was the first to report the
    invasion of Poland by German troops that triggered the outbreak of World War
    Two.
  • Hollingworth’s career took her to
    Palestine, Iraq and Iran, where she interviewed Mohammed Reza Pahlevi, who was
    overthrown by revolutionaries in February 1979.

Roman Herzog, former President of Germany, passes away
  • The former President of Germany
    Roman Herzog, who pioneered remembrance of the Holocaust, passed away on 10
    January 2017 in Bad Mergentheim, Germany. He was 82.
  • Herzog used the presidency to
    serve as a moral guardian for liberal and democratic values. He often talked
    about Germany’s moral responsibility for the crimes of its past.
  • He was the first President of
    Germany to be elected to office after the reunification of Germany.
  • Before being elected as the
    President of the country, he served as a judge of the Federal Constitutional
    Court.

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Team ExamPundit