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