SBI chairperson gets one-year extension
- The government has extended the term of Arundhati Bhattacharya, chairperson, State Bank of India (SBI) by one year.
- This will help in the continuity of the chairmanship during the crucial stage of the merger of State Banks of Bikaner & Jaipur (SBBJ), Travancore (SBT), Patiala (SBP), Hyderabad (SBH) and Mysore (SBM), and Bhartiya Mahila Bank(BMB) with State Bank of India.
Rs. 65,250 cr. black money declared
- Central Board of Direct Taxes (CBDT) had received total disclosures of Rs. 65,250 crore under the Income Disclosure Scheme, 2016 in the form of cash and other assets by 64,275 declarations.
- The scheme had provided a one-time opportunity to black money holders who had not paid full taxes in the past to come clean by declaring their domestic undisclosed income and assets by paying tax plus penalty at the rate of 45 per cent.
Centre constitutes Insolvency and Bankruptcy Board of India
- The Centre has constituted a four-member Insolvency and Bankruptcy Board of India (IBBI) under the Chairmanship of Madhusoodan Sahoo (M S Sahoo).
- Bankruptcy Board of India (IBBI) is constituted as per the ‘Insolvency and Bankruptcy Code, 2016’.
- The Code also outlines separate insolvency resolution processes for individuals, companies and partnership firms.
- The process may be initiated by either the debtor or the creditors; hence this is an important code for the banking industry.
India chose the Abu Dhabi crown prince as its Republic Day chief guest
- Mohammed bin Zayed bin Sultan Al-Nahyan, the crown prince of Abu Dhabi and deputy supreme commander of the UAE armed forces will visit India during this republic day as the chief guest.
- Abu Dhabi is the capital and the second most populous city in the United Arab Emirates (the most populous being Dubai).
- Head of the country is called Sheikh and present Sheikh is Khalifa bin Zayed.
- The currency of UAE- Dirham.
China's Yuan joins elite club of IMF reserve currencies
- China's yuan joins the International Monetary Fund's basket of reserve currencies.
- This makes Chinese Yuan the fifth reserve currency after 1)US dollar, 2)Euro, 3)British pound sterling and 4)Japanese Yen.
- The yuan joins the IMF's special drawing rights (SDR) basket, which determines currencies that countries can receive as part of IMF loans.
- China’s Yuan is also known as the renminbi, or "people's money".
- (Don’t get confused it with Yen, which is the currency of Japan.)
Delhi tops most polluted megacity list
- According to WHO, Delhi’s air is the worst among world megacities.
- WHO report is based on the fine particulate matters in the air.
- Delhi recorded a PM10 level of 229 µg/m³, followed by Cairo with 179 µg/m³ and Dhaka
Nobel Prize in Medicine awarded to Yoshinori Ohsumi
He got Nobel for experiments with yeast which exposed a key mechanism in the body’s defences where cells degrade and recycle their components.
During starvation, cells break down proteins and nonessential components and reuse them for energy. Cells also use autophagy to destroy invading viruses and bacteria, sending them off for recycling. And cells use autophagy to get rid of damaged structures. The process is thought to go awry in cancer, infectious diseases, immunological diseases and neurodegenerative disorders. Disruptions in autophagy are also thought to play a role in ageing.
Experts in Strange Matter Win Nobel Prize in Physics
Researchers David Thouless, Duncan Haldane and Michael Kosterlitz won the 2016 Nobel Prize for Physics for their studies of unusual states of matter, which may open up new applications in electronics.
Their discoveries, using advanced mathematics, had boosted research in condensed matter physics and raised hopes for uses in new generations of electronics and superconductors or future quantum computers.
Arundhati Roy’s second novel coming next year
- Arundhati Roy’s second novel “The Ministry of Utmost Happiness”, is set to be published in 2017.
- Arundhati Roy won the 1997 Booker prize for her debut novel The God of Small Things.
The Indian Bridge Management System (IBMS) has been launched
- IBMS is developed to create an inventory of all bridges in the country and rate their structural condition so that timely repair and rehabilitation work can be carried out.
- Each bridge is assigned a unique identification number.
- The precise location of the bridge in terms of latitude-longitude is collected through GPS and based on this, the bridge is assigned a Bridge Location Number.
- Engineering characteristics like the design, materials, type of bridge, its age, loading, traffic lane, length, width etc are collected and are used to assign a Bridge Classification Number.
- Based on this inventory IBMS will analyse data and identify bridges that need attention.
SBI branch in Myanmar
- State Bank of India on opened its branch in Yangon, Myanmar. This is the 54th foreign branch of India’s largest bank.
- With this, SBI became the first domestic bank of India to open a branch in Myanmar.
- The launch of this branch has extended the global presence of SBI in 37 countries through 198 offices.
Foreign dignitaries visit
- Singapore Prime Minister Lee Hsien Loong arrived in New Delhi on 3rd Oct 2016 for five days visit
- Sri Lankan Prime Minister Ranil Wickramasinghe arrived in New Delhi 4th October 2016 on a three-day visit.
Nobel Prize in Chemistry goes to developers of the world’s smallest machines
- The Nobel Prize in Chemistry 2016 is awarded to Jean-Pierre Sauvage, Sir J. Fraser Stoddart and Bernard L. Feringa for their design and production of molecular machines.
- They have developed molecules with controllable movements, which can perform a task when energy is added.
- These molecular machines will most likely be used in the development of things such as new materials, sensors and energy storage systems.
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