Current Affairs: November 25, 2016

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November 25, 2016

CCEA approves setting up of Jawahar Navodaya Vidyalayas in 62 uncovered

districts

The Cabinet Committee on Economic Affairs (CCEA) has approved opening of one Jawahar

Navodaya Vidyalaya (JNV) in each of the 62 uncovered

districts. These JNVs will provide good quality modern

education to the talented children prominently from rural

areas. Nearly 35,000 students will be benefitted from these

JNVs. The expenditure for this purpose during the 12th Plan

will be 109.53 crore rupees with a spill over amount of

2,761.56 crore rupees from 2017-18 to 2024-25. All JNVs are residential and co-educational in

nature. It is compulsory for all the staff and students to reside in the Vidyalaya campus.

Himalayan hydro power projects face flood risk

The potential hydro power projects in the Himalayan region

face increased flood risks from the formation of new lakes and

the expansion of existing ones due to melting glaciers. It was

revealed by study conducted by Swiss researchers on the

impact of climate change in the Himalayas. The study made

analysis of Himalayan glaciers and their possible future impact on livelihoods in States

adjoining the region. It found that the global warming could cause Himalayan glaciers to melt

rapidly increasing the flow of water.

Current Affairs: November 25, 2016

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SEBI eases rules for angel funds

The Securities and Exchange Board of India (SEBI) has liberalised

norms for angel investors to invest in early-stage entities. In this

regard, SEBI in its meeting decided to amend the SEBI

(Alternative Investment Funds) Regulations, 2012. This decision

was taken based on the recommendations received from the NR

Narayana Murthy Alternative Investment Policy Advisory Committee. Increased the upper

limit for number of angel investors in a scheme from 49 to 200. Angel Funds will also be

allowed to invest in start-ups incorporated within 5 years instead of the earlier norm of 3 years.

The requirement of minimum investment amount by an angel fund in any venture capital

undertaking has been reduced to Rs. 25 lakh from earlier Rs. 50 lakh.

Airtel launches India’s first Payments Bank service in Rajasthan

Airtel Payments Bank Limited or Airtel Bank became the

first payments bank in the country to launch live banking

services in Rajasthan. The pilot phase of the Airtel bank

launched in Rajasthan aims at testing systems and

processes ahead of a full scale pan Indian launch. Airtel

Payments Bank is a subsidiary of Bharti Airtel Limited.

Mahindra Bank holds 19.9% stake in it. Airtel retail outlets across Rajasthan will act as banking

points. They offer a range of basic, convenient banking services as per Payments Bank

guidelines issued by RBI. Customers can open bank accounts by using Aadhaar based e-KYC.

Airtel subscriber’s mobile number will function as a bank account number.

Current Affairs: November 25, 2016

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China successfully launches fourth data satellite Tianlian I-04

China has successfully launched its fourth data satellite named

Tianlian I-04. The satellite will join its three predecessors to

achieve global network operation. The satellite was launched on

board of Long March-3C carrier rocket from the Xichang

Satellite Launch Centre in southwest Sichuan province. Tianlian

I-04 has been developed by the China Academy of Space Technology under the China

Aerospace Science and Technology Corporation. The satellite seeks to achieve global network

operation that will provide data relay, measurement and control services for its manned

spacecraft.

Indian-American Nikki Haley named as US ambassador to UN

US President-elect Donald Trump has named Indian-

American Governor of South Carolina State, Nikki Haley

(44) for the high-profile post of US ambassador to the

United Nations. With this, she becomes the first Indian-

American to be appointed to a Cabinet-level post in any US

administration. She is also first female appointment to a

Cabinet-level post and overall sixth appointment of the President-elect Donald Trump led

administration.

Current Affairs: November 25, 2016

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IAF’s Upgraded Jaguar DARIN III aircraft receives IOC

The upgraded Jaguar DARIN III twin-seat aircraft has

received Initial Operation Clearance (IOC). It is

considered as a significant milestone for the country’s

military aviation sector. The satisfactory completion of

IOC was announced by Deputy Chief of IAF, Air

Marshal RKS Bhadauria who had flown the aircraft at HAL airport in Bengaluru. Hindustan

Aeronautics Limited (HAL) has upgraded 3 DARIN I Standard Jaguars to DARIN III Standard.

The aircraft is now equipped with world class avionics system. HAL’s Mission and Combat

System Research and Design Centre (MCSRDC) had carried out total design and development

of aircraft and modification was done at Overhaul Division.