Current Affairs Update - 6 Dec, 2014

• ·         Credit Rating Agency ICRA Limited on 5 December 2014 appointed Arun Duggal as non-executive Chairman after he was elected unilaterally by the ICRA Board. Currently, Arun Duggal is serving as an independent director on the Board of ICRA Ltd.
• ·         He will replace Pranab Kumar Choudhury who will resign from ICRA Limited and all other affiliated entities on 29 January 2015. He has been associated with the rating agency for 24 years.
• ·         Duggal is the former Chairman of the non-banking financial company Shriram Capital Ltd.

• ·         It is second largest Indian rating company in term of customer base. It is a joint-venture between Moody's and various Indian commercial banks and financial services companies. ICRA is an Indian independent and professional investment information and credit rating agency.
• ·         It was established in 1991, and was originally named Investment Information and Credit Rating Agency of India Limited.

• ·         ATMs installed by state-owned banks will soon have the facility for issuing the transaction receipt in Hindi, finance minister Arun Jaitley said on Friday in response to a question in the Lok Sabha.
• ·         "The government has instructed public sector banks (PSBs) to install those ATM machines which can produce receipts in both Hindi and English languages. PSBs have been advised to ensure that all ATM machines have facility of doing transactions/printing in Hindi as well as in English. However, no time frame has been prescribed for installation of such ATM machines," the written statement said.
• ·         Most ATMs have a bilingual option on their home screens. Some machines, like those installed by ICICI Bank, offer a regional language option as well in non-Hindi speaking states.

• ·         ICICI Bank, the country’s largest private sector lender, has tied up with Zopper, an e-commerce app for offline and online price comparison.
• ·         “This will allow ICICI debit and credit card holders to avail themselves of exclusive discounts at retail stores in their city, which are powered by the Zopper app .To be eligible for this offer, ICICI Bank customers need to download the Zopper app on their smartphone,” the company said in a statement.
• ·         The statement added that ICICI Bank wants to emphasise the use of plastic money as there has been a rise in consumerism and commercial activity in smaller cities. As of June 2014, ICICI had 3.26 million credit card users and 33.5 million debit card users, making it India’s second largest issuer of plastic money. The issue of cards would ensure reduction in operational costs and provide ICICI customers an opportunity to make use of special discounts from numerous retailers across India.
• ·         Mobile apps are the most affordable and effective way to reach customers these days. Zopper, a ‘Made in India’ application, provides this unique platform to merchants wherein they can publish their products, prices and offers, and easily reach customers in their vicinity.
• ·         This deal helps Zopper to increase its user base, as ICICI Bank promotes the scheme to its customers via SMS, email, ATMs, etc. An ICICI customer can then download Zopper app to see and avail of offers in their city.
• ·         Founded in 2011, Zopper.com provides price comparison across more than 2,000 e-commerce firms and over 3 lakh stores helping customers choose products at convenient prices available at the nearest local outlet/shop.

• ·         The board of country’s largest private sector lender ICICI Bank on Friday approved sale of the bank’s shareholding in its Russian subsidiary ICICI Bank Eurasia, to a third party Sovcombank.
• ·         “ICICI Bank Ltd has informed BSE that the Board of Directors of the Bank at its meeting held on December 05, 2014, approved a proposal for the sale of ICICI Bank’s shareholding in ICICI Bank Eurasia Limited Liability Company (IBEL), a non-material wholly-owned banking subsidiary in Russia, to Sovcombank, an unrelated third party Russian bank,” ICICI Bank said in a release to the Bombay Stock Exchange.
• ·         At September 30, 2014, ICICI Bank Eurasia had total assets of Russian Ruble (RUB) 4.5 billion (about Rs. 500 crore) and paid-up equity capital of RUB 1.6 billion (about Rs. 185 crore). Its profit after tax in the six months ended September 30, 2014 was RUB 28 million (Rs 3.2 crore).
• ·         ICICI Bank Eurasia accounted for less than 0.1 per cent of ICICI Bank’s consolidated total assets at that date and consolidated profit after tax for the period, the BSE release said.
• ·         The sale is subject to execution of definitive agreements and regulatory approvals. The purchase price will be determined on the transaction completion date based on the financial statements of IBEL at that date. The transaction is expected to conclude by the end of the financial year.

• ·         Indian Prime Minister (PM) Narendra Modi was on 5 December 2014 named as the Asian of the Year 2014 by Singapore’s leading newspaper The Straits Times for being a development-focused leader.
• ·         The editors of the paper picked Narendra Modi as he created an impressive election victory for his party Bhartiya Janata party (BJP) in the national election that ended in May 2014.
• ·         The award also recognises Modi's record as an administrator who has propelled his home state Gujarat to global attention.

• ·         After assuming the office of PM in May 2014, Narendra Modi has made a mark on Asia by reaching out to neighbouring countries and receiving international leaders like Xi Jinping of China and Tony Abbott of Australia.
• ·         Moreover, Modi has had a highly successful visit to Japan for a summit with Japanese Prime Minister Shinzo Abe.
• ·         On the economy level, Modi’s Make in India campaign could help enhance the growth engines of the economy and can provide equilibrium to the region when the top Asian economy China is slowing, and Japan is in recession.
• ·         Politically and socially, Modi has energized India with his moving calls that aimed at the development of India.
• ·         In January 2015, he will receive US President Barack Obama, the first time that a US leader will be the chief guest at the annual Republic Day celebrations in India.

• ·         Every December, editors of The Straits Times pick an Asian whose actions have significantly impacted his own society or the wider Asian continent in the 12 months past.
• ·         In 2013, the award was shared by Chinese President Xi Jinping and Japanese Prime Minister Shinzo Abe.
• ·         The first Asian of the Year award went to President Thein Sein of Myanmar in 2012.

• ·         A movie titled Bhopal: A prayer for Rain, World’s Deadliest Industrial Disaster was released worldwide on 5 December 2014 to commemorate the 30th anniversary of Bhopal Gas Tragedy.
• ·         The film revisits the Bhopal gas tragedy of 3 December 1984 that left around 3700 people dead and countless others were incapacitated for life.
• ·         The film is directed by Ravi Kumar. The cast in the lead roles are Martin Sheen, Mischa Barton, Kal Penn, Rajpal Yadav, Tannishtha Chatterjee, and Fagun Thakrar.
• ·         Sahara Movie Studios and Rising Star Entertainment have produced the movie and have been committed to it since inception.
• ·         The film shows how Union Carbide flouted major safety precautions, resulting in the gas leak.

• ·         Mahaparinirwan Diwas was observed across India on 6 December 2014. On this day, followers of B R Ambedkar paid tribute to him.
• ·         6 December is observed as Mahaparinirwan Diwas across India to mark the death anniversary of Dr B R Ambedkar.
• ·         Dr B R Ambedkar was fondly known as messiah of the marginalised people and also the Father of the Indian Constitution had died on 6 December 1956.

• ·         Dr BR Ambedkar is popularly known as Babasaheb
• ·         He was an Indian jurist, economist, politician and social reformer who inspired the Modern Buddhist Movement and campaigned against social discrimination of Dalits, women and labour
• ·         He was Independent India's first law minister and the principal architect of the Constitution of India
• ·         In 1956 he converted to Buddhism, initiating mass conversions of Dalits
• ·         In 1990, Ambedkar was posthumously conferred with the Bharat Ratna, India's highest civilian award
• ·         Ambedkar was born on 14 April 1891 into a poor low Mahar caste in the town and military cantonment of Mhow in Madhya Pradesh

• ·         State Government of Gujarat on 5 December 2014 declared 353 villages of Kutch district as completely or partially scarcity-affected. Of total 353 villages, 79 were declared completely scarcity-affected and 274 as partially affected by water shortage.
• ·         These villages were declared as scarcity affected after the state government conducted a survey of the Kharif Crops in Kutch region. Following the survey, these villages were found to be facing acute shortages for drinking water and fodder following insufficient rainfall during the monsoon season.
• ·         Apart from this, Gujarat government issued orders to the concerned departments to take prompt and adequate relief measures in these scarcity affected villages.

• a)     To provide employments under the MGNREGA and drinking waters for the human and live-stocks
• b)     Small farmers and poor animal breeders of Kutch region to be provided 4 kilo-grams of grass per cattle head at the rate of 2 rupees on daily basis.
• c)     The Gau-Shalas and Panjara Poles will get a subsidy of 25 rupees per day each cattle head.
• d)     The cattle camps will also get a subsidy of 25 rupees per day on each cattle head.

• ·         Sikorsky Aircraft Corp of the US on 5 December 2014 bagged the 6000 crore rupees deal for supply of 16 Multi-role Helicopters (MRH) to the Indian Navy with an option for eight additional aircraft. The company will also provide complete logistics support and training program.
• ·         Sikorsky was selected for the deal after it won the commercial bids that were opened on 4 December 2014. 
• ·         As per the deal, Sikorsky will supply S-70B Seahawk to India. The S-70B aircraft is part of Sikorsky’s SEAHAWK helicopter family (including the SH-60 and MH-60 models) and can be used both for anti-surface and anti-submarine warfare.
• ·         The proposed Indian Navy S-70B variant will include avionics and flexible open architecture Weapons Management Systems that will integrate advanced sonar, 360 degree search radar, modern air-to-surface missiles, torpedoes for the ASW role, and a blade and tail fold capability will facilitate shipboard storage.

• ·         India and Russia signed an Inter-Governmental Agreement for designing, developing and producing the Multi Role Fighter Aircraft. The announcement was made by Union Defence Minister Manohar Parrikar on 5 December 2014 during the parliamentary session.
• ·         Moreover, Indian Fighter aircraft MIG 21 is being phased out and aircrafts MIG 29 are being procured from Russia. With the fifth generation stealth technology, the aircraft strikes would be high as they cannot be immediately detected by radar.
• ·         However, no deal has been struck with Russia for procurement of Fighter Aircraft equipped with stealth technology. Till date, no agreement has been signed with any country for the procurement or purchase of fighter aircrafts.
• ·         Apart from these Multi Role Fighter Aircrafts, around 20-30 indigenously-built Light Combat Aircraft Tejas will also be commissioned soon by India.

• ·         The Assam government on 5 December 2014 launched a new road construction scheme named Lokpriya Gopinath Bordoloi Concrete Road Nirman. Chief Minister Tarun Gogoi laid foundation stone for the scheme at Mirza in Kamrup district of Assam.
• ·         The total cost of the project will be around 195 crore rupees and it envisages construction of 254 kilometers of roads in the State. The first phase of project involves improving roads by interlocking concrete block pavement.  The scheme will be applied to all the constituencies of Assam.

• ·         State Government of Punjab on 5 December 2014 decided to ban health camps without prior approval of district civil surgeons. The decision was made after more than dozen people lost their vision partially following cataract operation in a camp at Gurdaspur district of the state.
• ·         The free eye check-up camp was conducted by a Mathura-based NGO in Uttar Pradesh.
• ·         The government has also made mandatory that the civil surgeon, before allowing any medical camp, would certify that the organisation has sufficient medical infrastructure and specialists to conduct surgeries.
• ·         Civil surgeons have also been asked to ensure that sterilized equipment is used for surgery in such camps and a proper pre-operative and post-operative case of the patients is taken.
• ·         The Jalandhar based eye surgeon who carried out the operations at the health camp and coordinator of Mathura based NGO that organised the camp have been arrested.

• ·         The United Nations Environment Programme (UNEP) on 5 December 2014 released the first Adaptation Gap Report. The Report was released during a crucial round of climate talks in Lima, Peru.
• ·         The Adaptation Gap Report serves as a preliminary assessment of global adaptation gaps in finance, technology and knowledge. It lays out a framework for future work on bridging these gaps.
• ·         The report says that even if global greenhouse gas emissions are cut to the level required to keep global temperature rise below 2°C this century, still the cost of climate change adaptation in developing countries is likely to reach two to three times the previous estimates of 70-100 billion US dollars per year by 2050.

• ·         Physicist Ashton Carter was nominated as the next defence secretary of US Department of Defence. He was nominated by the President Barack Obama on 5 December 2014.
• ·         Ashton will replace Chuck Hagel as US Defence Secretary, who resigned in November 2014. He will take over as defense secretary in 2015. He will be the fourth defence secretary of President Obama in six years.
• ·         About Ashton Carter
• ·         Ashton carter was born in 1954 and he is a physicist and former Harvard professor.
• ·         He was professor and chair of the International Relations, Science, and Security faculty in Kennedy school of Harvard.
• ·         He served as assistant secretary of defense for international security policy under President Clinton (1993-94).
• ·         As assistant secretary of defence, he directed military planning during the 1994 crisis over nuclear weapons program of North Korea and he played an important role in removing all nuclear weapons from the territories of Ukraine, Kazakhstan and Belarus.

• ·         UN observed International Volunteer Day (IVD) on 5 December 2014. The theme of the IVD 2014 was People’s Participation. Make change happen, volunteer!
• ·         On IVD 2014, UN not only celebrated and recognized volunteerism in all its facets but also paid special tribute to the participation of people in making a difference at all levels: locally, nationally and globally.
• ·         IVD 2014 highlighted the contribution of volunteers in engaging people from the grass-roots in decision-making processes, ultimately creating space for participation that leads to: stronger governance, social cohesion, peace and sustainable development.

• ·         International Volunteer Day (IVD) is an international observance designated by the United Nations. It was adopted by the United Nations General Assembly through a resolution on 17 December 1985.
• ·         It is viewed as a unique chance for volunteers and organizations to celebrate their efforts, to share their values, and to promote their work among their communities, non-governmental organizations (NGOs), United Nations agencies, government authorities and the private sector.

• ·         United Nations General Assembly on 5 December 2014 declared 2015 as the International Year of Soils (IYS). With this, UN celebrated the first official UN World Soil Day 2014 on 5 December 2014.
• ·         Celebrations of IYS was organized as part of the 69th session of the UN General Assembly in New York, coupled with concurrent events  in Bangkok, Rome and Santiago.
• ·         The Food and Agriculture Organization of the United Nations has been nominated to implement the IYS 2015, within the framework of the Global Soil Partnership and in collaboration with Governments and the secretariat of the United Nations Convention to Combat Desertification.
• ·         The IYS 2015 aims to increase awareness and understanding of the importance of soil for food security and essential ecosystem functions.

• ·         Raise full awareness among civil society and decision makers about the profound importance of soil for human life;
• ·         Educate the public about the crucial role soil plays in food security, climate change adaptation and mitigation, essential ecosystem services, poverty alleviation and sustainable development;
• ·         Support effective policies and actions for the sustainable management and protection of soil resources;
• ·         Promote investment in sustainable soil management activities to develop and maintain healthy soils for different land users and population groups;
• ·         Strengthen initiatives in connection with the SDG process (Sustainable Development Goals) and Post-2015 agenda;
• ·         Advocate for rapid capacity enhancement for soil information collection and monitoring at all levels.

• ·         International Criminal Court (ICC) on 5 December 2014 withdrew the case against President of Kenya Uhuru Kenyatta thus ending the case against him. He was being tried on count of charges of crimes against humanity for his involvement in ethnic violence that erupted after elections in 2007.
• ·         Kenyatta is the first sitting President to appear before the ICC court for ethnic violence.
• ·         The ICC ended the case after the Chief prosecutor Fatou Bensouda filed a withdrawing notice against President Kenyatta.
• ·         The notice was filed due to lack of evidence which could have proved Kenyatta’s culpability beyond a reasonable doubt. Also, Kenya locked the case by not cooperating in the investigation.
• ·         The withdraw notice also added that prosecutors reserved the right to file charges again if more evidence become available related to the case.
• ·         President of Kenya Kenyatta was accused of helping to plan and finance a wave of ethnic violence after disputed elections in 2007. More than 1200 people died and 600000 fled their homes in Naivasha and Nakuru due to ethnic violence.

• ·         The United Nations General Assembly (UNGA) on 2 December 2014 adopted a resolution on establishment of a nuclear-weapon-free world and accelerating the implementation of nuclear disarmament commitments.
• ·         The resolution was introduced as a part of First Committee Recommendations on Disarmament and International Security.
• ·         It was adopted by a recorded vote of 169 in favour to 7 against with 5 abstentions.
• ·         The countries who voted against the resolution were Democratic People’s Republic of Korea, France, India, Israel, Russian Federation, United Kingdom and the United States.
• ·         The countries with abstentions were Bhutan, China, Federated States of Micronesia, Pakistan, Palau.
• ·         The resolution primarily aimed at nuclear weapon possessing countries asked them to immediately and unconditionally accede to the Non-Proliferation Treaty (NPT) as non-nuclear-weapon states and put all their nuclear facilities under International Atomic Energy Agency safeguards.
• ·         The resolution was adopted along with other 63 Drafts on First Committee. These other included convention prohibiting the use of those weapons, the Hague Code of Conduct against Ballistic Missile Proliferation, and establishment of a nuclear-weapon-free zone in the Middle East among others.

• ·         India on 5 December 2014 sent humanitarian assistance to Maldives to help resolve the water crisis in Male, the capital of Maldives.
• ·         This humanitarian assistance for Maldives was undertaken by India following shut down of its lone desalination (water treatment) plant. The plant was shut down after a major fire broke out at the Male Water and Sewerage Company (MWSC) generator control panel on 4 December 2014 causing extensive damage to the cabling of the generator to the Distillation plants, disconnecting water supply.
• ·         As part of humanitarian assistance, India sent a large consignment of potable water to Male to meet the immediate requirement of people of Male.
• ·         The water was sent by five Indian Air Force (IAF) transport aircraft comprising of IL-76 and C-17 Globemaster III carrying 2000 tonnes of water.
• ·         Besides, Indian Navy dispatched INS Sukanya carrying 35 tonnes of fresh water and two Reverse Osmosis (RO) plants onboard which have a capacity of producing 20 tonnes of fresh water per day.
• ·         Maldives, a low-lying island nation in the Indian Ocean, has no natural water source and consumes only treated sea water.

• ·         First World Soil Day was observed by the United Nations Food and Agriculture Organization (FAO) on 5 December 2014. On eve of the first World Soil Day, UNFAO along with Global Soil Parternership (GSP) declared the year of 2015 as UN International Year of Soils.
• ·         On this day, events took place to raise the importance of soil as a critical component of the natural system and as a vital contributor to the human commonwealth through its contribution to food, water and energy security.
• ·         The 2015 International Year of Soils will be observed across the world with events organised in Rome, New York and Santiago de Chile. The events will continue throughout the year to raise awareness and promote more sustainable use of this critical resource.
• ·         The United Nations approved the date of World Soil Day on the request of the King of Thailand Bhumibol Adulyadej and the FAO Global Soil Partnership (GSP) to raise awareness about the soil and usage of soil. The day coincides on the birthday of King of Thailand Bhumibol Adulyadej.

• ·         The United Kingdom (UK) on 6 December 2014 signed an agreement with Bahrain to establish a permanent naval base at Mina Salman Port in Bahrain.
• ·         The agreement was signed  between the Foreign Secretary of UK's Philip Hammond and Foreign Minister of Bahrain Sheikh Khalid bin Ahmed bin Mohammed Al-Khalifa in Manama, the capital of Bahrain.
• ·         The new base will bolster and provide the Royal Navy with a forward operating base and a place to plan, store equipment for naval operations and accommodate Royal Navy personnel.
• ·         The base will be built by Bahrain at an estimated cost of 15 million pounds with the British underwriting the ongoing costs. It will be completed in 2015.
• ·         The base will be in addition to the UK’s four-mine hunter warships permanently based in Bahrain that supports British destroyers and frigates in the Gulf.

• ·         US football team goalkeeper Tim Howard on 5 December 2014 won the 2014 US Player of the Year award for his work with the U.S. national team.
• ·         Howard received 101 first-place votes from a panel of journalist nationwide thus beating compatriot footballer Jermaine Jones and Clint Dempsey to win the award.
• ·         It is the first time that Howard has won the prestigious honor given to a U.S. team member.
• ·         He had made eight appearances for the national team including some spectacular performances at the 2014 FIFA World Cup. He made 16 saves in the Americans' 2-1 loss in extra time to Belgium in the second round in Brazil.
• ·         He became the second keeper to win the award after Kasey Keller. Kasey Keller got this award twice.
• ·         Howard also won US Soccer's Male Athlete of the Year.

• ·         MRF Limited of India will be the global partner for the ICC Cricket World Cup 2015. The decision was announced by International Cricket Council (ICC) on 1 December 2014 during the unveiling occasion of the ICC Cricket World Cup Trophy.
• ·         With this, MRF will have access to multiple branding opportunities at all game venues during the Cricket World Cup and at other promotional events held by the ICC across the world.
• ·         Already, MRF Pace Foundation Academy had been working alongside some of the fastest bowlers in world cricket and now it shares the commitment of ICC to continuous quality improvement.
• ·         ICC Chairman: N Srinivasan
• ·         MRF Limited Chairman and Managing director:  K M Mammen