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Daily Current Affairs (22nd December - 2016)
By root at Thu, 12/22/2016 - 17:36
Opposition's protest is like Pakistan army's cover-fire to militants: PM on note ban
- Those who are against demonetisation "are like Pakistan", said Prime Minister Narendra Modi.
- The commotion created in Parliament is like the 'cover fire' that Pakistan uses to ensure terrorists infiltrate into India.
- The PM was referring to Parliament's just-concluded winter session which barely functioned as most opposition parties wanted to discuss the ban on high-value notes and ruling party MPs didn't want to.
- Our army makes us proud but some people have questions even on their bravery. Is it good to view institutions like this?, "he said referring to some politicians questioning whether the surgical strikes in September on Pakistan Occupied Kashmir did occur".
Nepal to hold military exercise with China
- Beginning a new level of bilateral military engagement, Nepal will hold its first ever joint military exercise with China on February 10.
- The focus of the military exercise, named Pratikar-1, will be on training Nepali forces in dealing with hostage scenarios involving international terror groups.
- Nepal can conduct military exercises with other countries without violating the agreement with India, but the upcoming exercise with China is certainly unconventional and alarming as China’s definition of terrorism covers Tibetan agitators,” said Prof. S.D. Muni, a distinguished fellow at New Delhi-based Institute for Defence Studies and Analyses. He believes that China is planning the military move to targeting the Tibetans.
Cash withdrawal curbs may last longer: SBI
- The restrictions on cash withdrawal from banks and automated teller machines are expected to continue for some more time even as the window for depositing demonetised notes ends on December 30.
- Arundhati Bhattacharya, chairman, State Bank of India (SBI) said she does not expect the restrictions to go overnight until the banks get more cash.
- A customer can withdraw Rs.24,000 from a branch in a week and Rs.2,500 from an ATM. RBI had not specified when the restrictions will be withdrawn.
- The demonetised notes can be deposited till 30 December, 2016.
- Till December 19, the central bank has infused Rs.5.92 lakh crore in the system. Legal tenders worth Rs.15.44 lakh crore were withdrawn from November 9. RBI further said, a total of 22.6 billion pieces of notes of various denominations, of which 20.4 billion pieces belonged to small denominations of Rs. 10, 20, 50 and 100s, and 2.2 billion of Rs.2,000 and Rs.500 denominations, have been issued so far.
Nomura’s India growth indicator slumps to 20-yr low
- Japanese financial major Nomura said its ‘Composite Leading Index (CLI) for India for early 2017’ — tracking the non-agricultural GDP growth with a two-quarter lead — had slumped to the lowest level since the series started in 1996, due to demonetisation and the consequent cash crunch.
- Our CLI has slumped to the lowest level since the series started in Q2 1996 and is consistent with GDP growth of below 6 per cent — which poses downside risk to our Q1 GDP growth projection of 6.9 per cent,” Nomura said in a report on India.
- Nomura’s economic heat-map of high-frequency data indicates that while demonetisation has triggered a slowdown, the effect is only partially visible in November data, with full growth impact likely to be seen only in figures for December.
SASTRA Ramanujan prize for Radziwill, Matomaki
- The 2016 SASTRA-Ramanujan award for mathematics was presented to Maksym Radziwill of McGill University, Canada, at the inauguration of the International Conference on Number Theory at SASTRA University at Kumbakonam.
- The joint winner is Kaisa Matomaki of University of Turku, Finland.
- The award citation and the shared prize money of $5,000 was presented by Prof. Steven Weintraub from Lehigh University who is also the Associate Secretary of the American Mathematical Society.
- Prof. Radziwill will deliver the Srinivasa Ramanujan Birthday Commemorative Lecture on December 22.
- SASTRA University presents the Ramanujan award to a leading mathematician under 32 years.
- Tata Steel said its independent director Nusli Wadia has been removed from the company's board, with 90.8 per cent of shareholders present at EGM voting in favour of his ouster.
- The motion (was) carried in favour of the resolution with overwhelming majority way beyond a special resolution hurdle of 75 per cent, even though this motion was an ordinary resolution requiring simple majority.
- The total number of votes polled against the proposal was 5.75 crore, accounting for 17.5 per cent of non-promoters.
- Girija Vaidyanathan, Additional Chief Secretary and Commissioner of Land Administration, has been appointed Chief Secretary of Tamil Nadu in place of P. Rama Mohana Rao, a government order .
- Ms.Vaidyanathan will also hold full additional charge of Vigilance Commissioner and Commissioner for Administrative Reforms.
- An officer of the 1981 batch of the Indian Administrative Service, Ms.Vaidyanathan is a postgraduate degree in physics.
- Ms.Vaidyanathan has been Commissioner of Land Administration since 2013.