Current Affairs Update - 18 Nov, 2014

• ·         State Bank of India (SBI) on 17 November 2014 approved 1 billion US dollar loan for Adani Mining to develop Carmichael coal mine project near Clermont in Central Queensland, Australia.
• ·         The announcement related to the signing of memorandum of understanding between Adani Group and SBI was made in the third week of November 2014.
• ·         The announcement comes close on the heels of clearance of the Adani Group’s proposal by the Queensland State of Australia on 17 November 2014. The Adani group plans to build a 7 billion US dollars coal mine project.
• ·         Besides, Queensland State also announced a major investment in rail infrastructure to support the coal mine project of the Adani Group.
• ·         The Carmichael coal, railway and port project includes building Australia’s largest thermal coal mine in the north Galilee Basin approximately 160km north-west of Clermont in Central Queensland, linked by a new 388 km standard gauge rail line to a new terminal at Abbot Point Port near Bowen.
• ·         The company aims to build the project by end of the year 2017 and the produced coal from the region will be sent 400 km (250 miles) by rail to Australia's east coast.
• ·         Adani Mining is the subsidiary of the Adani Enterprises in Australia. The CEO and country head is Jeyakumar Janakaraj.

• ·         The Union Government on 18 November 2014 relaunched Kisan Vikas Patra scheme (KVP) in New Delhi to encourage the habit of small savings among the citizens.
• ·         The scheme will soon be made available through designated branches of nationalized banks across the country.

• ·         The scheme will provide facility of unlimited investment by way of purchase of certificate from post office in various denominations.
• ·         The KVP will be available to the investors in the denomination of 1000, 5000, 10000 and 50000 rupees with no upper ceiling on investment.
• ·         The certificates can also be issued in single or joint names and can be transferred from one person to any other person. The investment made in the certificate will double in 100 months.
• ·         The facility of transfer from one post office to another anywhere in India and of nomination will also be available under the scheme.
• ·         Kisan Vikas Patra scheme has unique liquidity feature, where an investor can encash his certificates after the lock-in period of 2 years and 6 months and thereafter in any block of six months on pre-determined maturity value.
• ·         With a maturity period of 8 years 4 months, the collections under the scheme will be available with the Union Government for a fairly long period to be utilized in financing developmental plans of the Centre and State Governments.
• ·         Kisan Vikas Patra (KVP), a certificate savings scheme was launched by the Union Government on 1 April 1988. The scheme provided facility of unlimited investment by way of purchase of certificates from post offices in various denominations.

• ·         Merchandise exports declined by 5 percent to 7-month low of 26 billion US dollars in October 2014 resulting into widening of trade deficit to 13.3 billion US dollars in October 2014.
• ·         This was revealed by the India’s Foreign Trade (Merchandise) data released by the Department of Commerce, Union Ministry of Commerce and Industry on 17 November 2014.
• ·         The decline in exports occurred mainly on account of fall in shipments of petroleum products, electronics, engineering items, gems & jewellery, and iron ore.
• ·         On the other hand, driven by gold imports, total merchandise imports increased 3.16 percent to 39.45 billion US dollars in October 2014. The gold imports surged 280 percent to reach 4.1 billion US Dollar during the month of October 2014.
• ·         This widened the trade deficit to 13.3 billion US Dollar in October 2014 from 10.59 billion US Dollar in October 2013. However, the gap was lower than 14.24 billion US Dollar trade deficit in September 2014
• ·         Cumulative total exports in the April-October 2014 period stood at 189.79 billion US Dollar which was 4.72 per cent higher than in the corresponding period of the 2013.
• ·         The cumulative value of imports for the April-October 2014 period was 273.55 billion US Dollar which was 1.86 per cent higher than imports in the same period in 2013.
• ·         The trade deficit during April-October 2014 period was at 83.75 billion US dollar, lower than the deficit of 87.31 billion US Dollar in April-October 2013.

• ·         Union Government on 17 November 2014 nominated Dr. Hasmukh Adhia as a Director on the Central Board of Directors of the Reserve Bank of India (RBI). He will replace Gurdial Singh Sandhu.
• ·         As per the press release of RBI, his nomination is effective from 11 November 2014.
• ·         Hasmukh Adhia is currently working as Secretary in Department of Financial Services, Union Ministry of Finance.
• ·         He is a 1981 batch Gujarat cadre IAS officer. He had worked with the then Gujarat chief minister and present Prime Minister Narendra Modi from May 2004 to May 2006.
• ·         He also has served as Additional Chief Secretary, finance department in the Gujarat government apart from stints in Gujarat Industrial Investment Corporation (GIIC) and Gujarat Industrial Development Corporation (GIDC).

• ·         The US Exim Bank has agreed to provide $1-billion medium and long-term dollar loans to finance American technologies, products and services for clean energy development by the Indian Renewable Energy Development Agency (IREDA).
• ·         The credit facility is part of a memorandum of understanding signed between the two organisations on Tuesday.
• ·         Renewable energy developers in India working with IREDA can avail themselves of the credit facility for importing US goods and services in the sector. The credit facility will also be available for financing 30 per cent of domestically manufactured components.
• ·         The loans can be repaid over a period of 18 years with the same fixed rate of interest.
• ·         “The proposed credit facility carries no specific commitment on the part of IREDA and will depend on the import of US equipment to India and the attractiveness of the credit facility to the project developers in India,” an official statement said.
• ·         Overall, the MoU establishes a framework for cooperation in the financing of creditworthy entities for renewable energy projects and facilitating the export of goods and services from US to India.
• ·         Upendra Tripathi, Secretary, Ministry of New and Renewable Energy, said that sectors such as solar, wind, hydro, and waste-to-energy have been identified as priority areas of clean energy investment cooperation as part of the MoU.

• ·         India and Australia on 18 November 2014 signed five pacts on social security, transfer of sentenced prisoners, combating narcotics trade, tourism, and Arts and Culture.

• ·         The Social Security Agreement will help in making the business relations stronger, especially in the Services Sector. It will provide for social security and superannuation benefits for those who have been residents of the other country on basis of equality of benefit, export of benefits and avoidance of double coverage.  It will lead to greater economies and promote the flow of professionals.
• ·         Agreement concerning Transfer of Sentenced Prisoners: It will facilitate, regulate and lay down procedures for the transfer of sentenced persons and enable rehabilitation and reintegration of sentenced persons into society.
• ·         MoU on Combating Narcotics Trafficking and Developing Police Cooperation: It places priority on tackling illicit trade, diversion of precursors, asset forfeiture and drug money laundering.  It will help develop strategies and procedures for operations to disrupt and dismantle transnational narcotic related threats.
• ·         MoU on Cooperation in the Field of Arts and Culture: It will promote cooperation through exchange of information, professional expertise, training and exhibitions in the field of culture.  It will deepen understanding between the people, institutions and art genres and promote sound and sustainable artistic and cultural activities.
• ·         MoU in the Field of Tourism: It will encourage cooperation in tourism policy, information exchange, interaction between tourism stakeholders, training and investments in hospitality sector and promote the importance of the tourism sector in economic development and employment generation.

• ·         Australian Prime Minister Tony Abbott and his Indian Counterpart Narendra Modi agreed to have a Free Trade deal by 2015 end.
• ·         India will organise a Make in India show in Australia in 2015 while Australia would hold a business week in India in January 2015.
• ·         The countries too agreed to speed up negotiations on the Comprehensive Economic Partnership Agreement.
• ·         India and Australia also agreed on a Framework for Security Cooperation. Security and defence are important and growing areas of the new India-Australia partnership for advancing regional peace and stability, and combating terrorism and trans-national crimes.
• ·         India and Australia signed the new Cultural Exchange Programme where India will establish a Cultural Centre in Sydney by February 2015. India will hold a Festival of India in Australia in 2015 and tourism weeks in Australia.
• ·         Persons of Indian Origin (PIO) and Overseas Citizen of India (OCI) card holders need not present themselves at police stations while visiting India from now onwards. The people who have a Persons of Indian Origin (PIO) card will now get a lifetime visa to India.

• ·         The Assam government on 17 November 2014 presented the first state bravery award to Gunjan Sarma in Guwahati.
• ·         15 year old Gunjan, a resident of Sivsagar district was awarded with Assam’s first ever bravery award for saving lives of 10 school children who were taken hostage by a gunman on 4 December 2013.
• ·         Gunjan Sarma, a student of Nazira Central School in Sivasagar district of Assam volunteered to accompany the gunman who hijacked their school van carrying students. She volunteered to accompany the gunman in order to save lives of other students but later was abandoned in a dense forest along Assam-Nagaland border at night.
• ·         She managed to find her way out of the forest at the dawn.  Her saga of bravery compelled the Assam government to institute a state bravery award.

• ·         The Fourth India-China Joint Training Exercise Hand-in-Hand 2014 began at Aundh Military Station in Pune, Maharashtra on 17 November 2014. The exercise will end on 25 November 2014.
• ·         The 12 day Indo-China joint exercise is aimed to acquaint both the armies with each other’s operating procedures in the backdrop of counter terrorism environment.

• ·         To enhance confidence and trust between the two armies that may be called upon to grapple with anti terrorism operations even under the UN mandate
• ·         To uphold the values of Peace, Prosperity and Stability in the region by jointly eradicating terrorism
• ·         To develop mutual understanding and respect for each other’s military
• The Chinese contingent for the exercise comes from 13 Group Army, Chengdu Military Region and comprises an infantry company along with supporting staff. 1st edition was held in 2007 in China.

• ·         Akash surface-to-air missile was test fired by the Indian Air Force (IAF) from Integrated Test Range at Chandipur near Balasore, Odisha on 17 November 2014.  It was test fired as part of user trial by the Air Force.
• ·         The missile flew at a supersonic speed over a distance of 14 km and destroyed a target called Para flare at a low altitude of 1.2 km. The Para-flare was dropped by a MiG-27 aircraft of the IAF.
• ·         Akash missile is India’s first indigenously designed and developed missile. The missile has been developed by Defence Research and Development Organisation (DRDO) as part of the Integrated Guided Missile Development Programme.
• ·         The missile is a medium range surface-to-air anti-aircraft defence system with a strike range of 25 km. It can carry a warhead of 60kg and it is packed with a battery that can track and attack several targets simultaneously.

• ·         Veteran classical vocalist Pandit Jasraj was on 17 November 2014 conferred with the Sumitra Charat Ram Award 2014 for Lifetime Achievement.
• ·         Pandit Jasraj joined the list of eminent personalities who were honoured with the award earlier including Pt Birju Maharaj, Kishori Amonkar and Mayadhar Raut.
• ·         The award function marked the beginning of a year-long celebrations to commemorate the 100th birth anniversary of Ram who was born on 17 November 1914 in Meerut.
• ·         The award was instituted in 2011 to honour stalwarts in art and was named after Sumitra Charat Ram who founded the Shriram Bharatiya Kala Kendra in 1952.
• ·         She was instrumental in successfully resurrecting Kathak under the banner of the Shriram Bhartiya Kala Kendra.
• ·         Previously Pandit Jasraj has been awarded with a number of titles, including Padma Vibhushan, Padma Bhushan and Sangeet Natak Akademi Award.

• ·         With 356 million 10-24-year-olds, India has the world’s largest youth population despite having a smaller population than China, a latest UN report said today.
• ·         China is second with 269 million young people, followed by Indonesia (67 million), the US (65 million) and Pakistan (59 million), Nigeria with 57 million, Brazil with 51 million, and Bangladesh with 48 million, the United Nations Population Fund’s (UNFPA) State of the World’s Population report said.
• ·         It said developing countries with large youth populations could see their economies soar, provided they invest heavily in young people’s education and health and protect their rights.
• ·         Within this generation are 600 million adolescent girls with specific needs, challenges and aspirations for the future, the report said.
• ·         The report titled ‘The power of 1.8 billion’, said 28 per cent of India’s population is 10- to 24-year-olds, adding that the youth population is growing fastest in the poorest nations. Global number of youths is highest ever.
• ·         As the world is home to 1.8 billion young people between the ages of 10 and 24 year, 9 in 10 of the world’s young population live in less developed countries.

• ·         Prime Minister Narendra Modi on Tuesday gifted to his Australian counterpart Tony Abbott Australian lawyer John Lang’s 1854 petition against the East India Company on behalf of Rani Lakshmibai .
• ·         Mr. Modi gave the gift to Mr. Abbott just ahead of bilateral talks.
• ·         “John Lang’s original petition of 1854 on behalf of Jhansi ki Rani against the East India Company,” External Affairs spokesperson Syed Akbaruddin tweeted.
• ·         Earlier, Mr. Modi was given a ceremonial guard of honour and a 19-gun salute at the forecourt of the Parliament. Prime Minister Abbott and several Indians were present on the occasion. Then he proceeded towards the Prime Minister’s Office for bilateral talks. Born in 1816 in Sydney, Lang is generally regarded as Australia’s first native novelist. As a man of many talents, he was also a lawyer, journalist and born traveller. In 1842, he sailed to India and made the country his new home, even learning the Hindustani language. While carrying on a successful legal practice, he started a newspaper in 1845 called The Moffusilite, published initially from Meerut and later from Mussoorie. The paper often took a critical stance against the East India Company’s harmful policies and consequently he was sued and briefly jailed by the Company.
• ·         In 1854, Lang became the counsel of Lakshmibai — an iconic figure in the Indian uprising of 1857.

• ·         In the first case of Ebola in the country, a national returning from Liberia has tested positive and has been isolated at a special facility at Delhi airport.
• ·         The health ministry said the 26-year-old man, who reached here last Monday, was already treated for the disease in the African country and had no symptoms. But the ministry said his semen samples tested positive, prompting authorities to isolate him.
• ·         "The situation is under control and there is no need for any alarm. All precautions are being taken," the ministry said.
• ·         It said during recovery, people continued to shed virus in body fluids for variable periods.
• ·         But the virus in his semen samples may transmit the disease through sex up to 90 days from the time of clinical cure, it said.
• ·         He will remain in isolation in the facility till his body fluids test negative and he is found medically fit to be discharged, it said. The ministry insisted the man was a treated and cured case.

• ·         Penguin Books on 17 November 2014 released the Book titled Truth Always Prevails. The book has been written by Sadruddin Hashwani. The book was released in Pakistan.
• ·         The book Truth Always Prevails is a self-narrated account of personal and entrepreneurial experiences by one of the most successful businessmen of Pakistan with a global footprint. This is a story of Pakistan and the Pakistani Dream.
• ·         Truth Always Prevails is a memoir of not only the struggles of the eventful life of an entrepreneur but also an in-depth account of Pakistan through economic and evolutionary highs and lows.
• ·         It highlights how Hashwani rose to become the cotton king of Pakistan and gives a first-hand account of the economic suffering at the hands of nationalization and the birth of hospitality industry in Pakistan and the challenge of uncertain policies.
• ·         As soon as the book was launched it was mired in controversy. The controversy relates to the details wherein the author has held the former president Asif Ali Zardari responsible for the October 2008 devastating suicide blast at his hotel Marriott in Islamabad.
• ·         This led to Zardari serving a legal notice of 500 million rupees in damage for loss of reputation and another 500 million rupees for mental agony and torture on Sadruddin Hashwani.
• ·         Zardari served the notice for willfully publishing a false, derogatory and vexatious publication full of blatant lies to damage his reputation.

• ·         The Church of England on 17 November 2014 broke the centuries-old tradition by paving the way for the appointment of female bishops.
• ·         The vote at the general synod meeting at Westminster Church House in central London gave the final seal of approval to a legislation passed through UK Parliament in October 2014. The first female bishop is expected to take her seat in 2015.
• ·         The amendment to Canon 33 of the Church of England now states that a man or a woman may be consecrated to the office of bishop. The legislation comes 20 years after the women were ordained as priests.
• ·         The new legislation includes some safeguards to manage dissent, such as the introduction of an independent reviewer who will oversee arrangements for parishes who want oversight from a male bishop.
• ·         There are other women bishops in Australia, Canada, Cuba, India, New Zealand, Swaziland, South Africa and the USA.

• ·         The International Buddhist Conference 2014 was held from 15 November to 18 November 2014 in Lumbini, Nepal. It was held with an objective of preserving Buddhist culture and heritage.
• ·         The conference was held with a joint initiative of Nepal Theravada Buddhist Academy and Myanmar Sitagu International Buddhist Academy.
• ·         The conference was attended by some 400 Buddhist experts and intellectuals and issued a 23 point declaration. 
• ·         The declaration states to enhance promotion of archaeologically and spiritually significant Buddhist heritages of world, promote Buddhist education and to co-work for sustainable development of Lumbini and adjoining areas.
• ·         The conference called on the international community for a joint effort to spread the publicity of Buddhist education around the globe by promoting and protecting Lumbini.

• ·         Finnish mobile major Nokia on 18 November 2014 launched Android-based N1 tablet at the Slush conference in Helsinki. The device has been developed in partnership with Foxconn, which will also manufacture it.
• ·         This was the first comeback by Nokia after it sold it sold its mobile devices business to Microsoft. The N1 tablet comes one week after the launch of the Lumia 535 by Microsoft without the Nokia brand on it.
• ·         The tablet will cost 249 US dollars plus tax and Nokia will start shipping in February 2015 in China. Later it will become available in Europe and other countries.

• ·         Second Edition of Global Slavery Index was released on 17 November 2014 by the Walk Free Foundation. The index aims to end modern slavery in a generation.
• ·         The Index ranks 167 countries in terms of the percentage of a national population and the total number of people living in modern slavery – country by country, region by region.
• ·         In absolute terms, the index was topped by India followed by China, Pakistan, Uzbekistan and Russia. Index highlighted that estimated 35.8 million people are in modern slavery globally. Out of this, 61% people are living in top five countries.
• ·         The estimated prevalence of people in modern slavery has increased from 2013.

• ·         Institute for Economics and Peace (IEP) on 18 November 2014 released Global Terrorism Index 2014. The Index 2014 provides ranks for 162 countries and provides a fact-based understanding of terrorism and its impact.
• ·         According to the report, terrorism has become a global phenomenon with a 61 percent increase in the number of people killed in terrorist attacks in 2013.

• ·         The number of terrorist attacks around the world increased dramatically in 2013 and 82 percent of all terrorism occurred in only 5 countries: Iraq, Afghanistan, Pakistan, Nigeria and Syria.
• ·         17958 people were killed in terrorist attacks in 2013 which is 61 percent more than 2012.
• ·         More than 90 percent of all terrorist attacks occurred in countries that recorded gross human rights violations.
• ·         40 times more people were killed by homicides than terrorist attacks in 2013.
• ·         There were almost 10000 terrorist attacks recorded in 2013 representing a 44 percent increase in the number of terrorist incidents.
• ·         24 countries experienced more than 50 deaths in 2013 that increased to 60 percent from 15 countries in 2012.
• ·         Terrorism in 2013 was dominated by four organizations; ISIL, Boko Haram, al Qaida and the Taliban, collectively responsible for 66 percent of all fatalities.
• ·         Iraq continues to be the country most impacted by terrorism. The number of fatalities in Iraq rose 164 percent to 6362 which is the largest increase in the index.
• ·         At least 13 countries have been identified as facing a greater risk of significant terrorist activity in the coming years.
• ·         In 2013, the eight OECD countries that recorded deaths from terrorism were Turkey, Mexico, the United States, the United Kingdom, Greece, Israel, Czech Republic and Chile.

• ·         Veteran diplomat Michel Kafando was on 17 November 2014 chosen as interim president of Burkina Faso. Michel Kafando will head the country until November 2015 elections.
• ·         A panel of 23 officials chose Kafando after preferring him to the other candidates which included journalist Cherif Sy and sociologist and ex-minister Josephine Ouedraogo. Michel Kafando appointment will now be ratified by the Constitutional Council.
• ·         Michel Kafando was Burkina Faso's foreign affairs minister between 1981 and 1982. Kafando previously served as the country's ambassador to the United Nations from 1998 to 2011.
• ·         The decision came ahead of a deadline imposed by the African Union which instructed Burkina Faso to establish interim institutions and pick an interim president by 17 November 2014 or face sanctions.
• ·         The country was returned to civilian rule after its long-time President Blaise Compaore was forced to resign on 31 October 2014 during mass protests. Compaore ruled for 27 years after seizing power in a coup in 1987.
• ·         Compaore had to quit after violent protests sparked by his bid to extend his rule by changing the constitution of the landlocked former French colony. Since the ouster of Compaore, Army took control of the country.

• ·         Indian-American student Neha Gupta has won the 2014 International Children's Peace Prize Award for her exceptional work to raise money for underprivileged children around the world.
• ·         Netherlands King Willem-Alexander, former archbishop and Nobel Peace Prize winner Desmond Tutu and Nobel Peace Prize winner Malala Yousafzai presented Gupta with her award during a ceremony at The Hague, Netherlands Tuesday.
• ·         A first-year Schreyer Honours College scholar in the Eberly College of Science at Pennsylvania State University, Gupta will be entering the pre-medicine programme, according to a release from University.
• ·         Inspired by what she saw during a visit to India with her grandparents, Gupta founded Empower Orphans, an organization designed to support orphaned and abandoned children in India and the US.
• ·         Her work, which she started at age 9, has grown into a charity that to date has raised over $1 million and has helped more than 25,000 children.
• ·         The award is widely accepted as the most prestigious international award a young person can win.
• ·         Last year's winner, Malala Youzafzai, a Pakistani activist for female education, went on to become the youngest recipient of the Nobel Peace Prize for 2014.

• ·         Dilip Vengsarkar who earned the sobriquet ‘colonel’ has been chosen for the BCCI’s Col. C.K. Nayudu Lifetime Achievement Award for 2013-14. He will receive a citation, trophy and cheque for Rs. 25 lakh at the BCCI’s eighth annual awards ceremony to be held here on November 21.
• ·         Vengsarkar was India’s prominent batsman from the mid-70s to early 1990s. He earned fame for scoring three consecutive centuries at Lord’s (103 in 1979, 157 in 1982 and 126 not out in 1986). He scored 6,868 runs in 116 Tests (17 centuries) and 3,508 runs in 129 One-Day Internationals.
• ·         He was chosen for the award by a panel comprising journalist Shekhar Gupta, BCCI interim president Shivlal Yadav and BCCI secretary Sanjay Patel.
• ·         Other awardees: Bhuvneshwar Kumar (Polly Umrigar Award, best international cricketer, Rs. 5 lakh), Parveez Rasool (Lala Amarnath Award, best all-rounder, Ranji Trophy, Rs. 2.5 lakh), R. Vinay Kumar (Lala Amarnath Award, best all-rounder in domestic limited-over tournaments, Rs. 2.5 lakh), Kedar Jadhav (Madhavrao Scindia Award, highest scorer in Ranji Trophy, Rs. 2.5 lakh), Rishi Dhawan (Madhavrao Scindia Award, highest wicket-taker in Ranji Trophy, Rs. 2.5 lakh), Rahul Tripathi (M.A. Chidambaram Trophy, best u-25 cricketer, Rs. 50,000), B. Anirudh (M.A. Chidambaram Trophy, best u-19 cricketer, Rs. 50,000), Shubham Gill (M.A. Chidambaram Trophy, best u-16 cricketer, Rs. 50,000), Smriti Mandhana (M.A. Chidambaram Trophy, best woman cricketer, Rs. 50,000) and Anil Chaudhary (best umpire in domestic cricket), Rs. 50,000).
• ·         Previous C.K. Nayudu Lifetime Achievement Award receipeints are 2011: Ajit Wadekar; 2012: Sunil Gavaskar; 2013: Kapil Dev.