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Current Affairs: November 8, 2016

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November 8, 2016

Scientists found palaeo-channel of lost Chandrabhaga River in Odisha

Scientists from the Indian Institute of Technology (IIT)

Kharagpur have claimed to discover evidence of lost river

Chandrabhaga in Odisha. Earlier, KS Valdiya led expert

committee had found out that Saraswati River did exist and

flowed through India and Pakistan before meeting Arabian

Sea through Rann of Kutch. It is an ancient mythical river

believed to have existed at a distance of about two km from the 13th century Sun Temple at

Konark (built by King Narasimhadeva I of Eastern Ganga Dynasty in 1255 CE.), a UNESCO

World Heritage Site in Odisha. It has been mentioned prominently in ancient literature. Besides,

almost all lore regarding Konark, including illustrations and photographs, indicate presence of

the river in proximity of temple.

CII launches Startup Mentorship Circle platform

The Confederation of Indian Industry (CII) has launched

‘Startup Mentorship Circle’, a unique platform to help in

connecting start-ups with the global marketplace. The

platform was launched in view of Union Government’s

vision of nurturing entrepreneurship under the Startup

India Initiative. Under this Platform Large corporate houses are planning to mentor about 100

start-ups over the next two years. Initially it will focus on start-ups in the Western part of the

country and will be soon scaled to other parts. It seeks to provide platform to create strong eco-



system to nurture innovation and startups to drive sustainable economic growth and generate

large scale employment opportunities.

India ranks second in global business optimism index

As per recently released report, India has was ranked

second in the global business optimism index during

the third quarter (July-September 2016). It was

revealed by the Grant Thornton International

Business Report. India has improved its ranking by

one spot in the index. The report was prepared on the

basis of a quarterly conducted global business survey of 2,500 businesses across 36 economies.

Earlier in second quarter (April-June 2016) India was ranked third after being on top for two

consecutive quarters. In the report Indonesia took the top spot and Philippines was placed third

after India.

RBI appoints M Rajeshwar Rao as new Executive Director

The Reserve Bank of India (RBI) has appointed M

Rajeshwar Rao as Executive Director (ED) following

voluntary retirement of G Mahalingam. In his new role,

Mr. Rao will look after Department of Statistics and

Information Management, Financial markets

Operations Department and International Department

of the RBI. Rao has a Bachelor of Arts in Economics and



a Master of Business Administration (MBA) from University of Cochin. He is also a Certificated

Associate of Indian Institute of Bankers. He had joined RBI in 1984 and as career central banker

has exposure in various aspects of central bank functioning.

India, Sri Lanka agree to form Joint Working Group on Fisheries to address

fishermen issue

India and Sri Lanka have agreed to set up a Joint Working Group (JWG) on Fisheries and

hotline between their Coast Guards to address long-

standing issue of fishermen from Tamil Nadu. These

mechanisms aim to help find a permanent solution to

the fishermen issues. The decision in this regard taken

during talks between Union External Affairs Minister

Sushma Swaraj and Sri Lankan Foreign Minister

Mangala Samaraweera in New Delhi. The JWG on Fisheries will meet every three months

beginning January 2017 while the Ministers of Fisheries on both sides would meet every six

months along with Naval representatives and Coast Guard to discuss the protracted issue.

PM Narendra Modi inaugurates first International Agro-biodiversity Congress

Prime Minister Narendra Modi inaugurated the first

International Agro-biodiversity Congress in New Delhi.

The 4-day Congress (from November 6 to 9, 2016) will be

attended by 900 delegates from 60 countries to discuss

conservation of genetic resources. Agrobiodiversity is

defined as the variety and variability of plant, animals and

micro-organism that are used directly or indirectly for food and agriculture. It includes all



species that are closely inter-woven in an agricultural ecosystem. India is one of the most

diverse countries in the world possessing unique crop and animal diversity.

Anti-dumping duty on Metallurgical coke bane to steel industry: ISA

The Indian Steel Association (ISA) has asked the Central

Government not to impose any anti-dumping duty on

Metallurgical Coke (met coke) fearing cost escalation of their

products. A levy of anti-dumping duty on met coke will have

a cost-push effect on the steel sector. It will fuel further the

cost of steel making, resulting in an increase in the cost of finished steel. Metallurgical coke is

made from low ash, low sulfur bituminous coal, with special coking properties. It is one of the

most important and critical raw materials for the steel industry. The steel industry in India

having large blast furnaces requires met coke with high ash content and moisture content of less

than 5% to run efficiently.

India’s Aniruddha Rajput elected to UN’s International Law Commission

Indian lawyer, Aniruddha Rajput (33) has been elected as a

member International Law Commission (ILC), a top body of

legal experts of United Nations General Assembly (UNGA).

Rajput is among the 34 individuals elected by the UNGA as

members of the ILC. He is India’s first time candidate to the

Commission and youngest among the group. He is also the first Indian nominee chosen from

outside the close circuit of lawyers of the Union Ministry of External Affairs.



PM Narendra Modi to inaugurate PETROTECH 2016

Prime Minister Narendra Modi will

inaugurate the 12th edition of International

Oil and Gas Conference and Exhibition

‚Petrotech-2016‛ in New Delhi on 5

December 2016. The 2016 theme is

‚Hydrocarbons to fuel the future – Choices and Challenges‛. 6000 delegates from about 75

countries are expected to attend the mega event. PETROTECH is India’s flagship biennial

international oil and gas conference and exhibition. It is Asia’s largest oil and gas event. This

global event aims at bringing Energy Ministers, professionals, industry leaders, academicians

and domain experts from the energy sector on a common platform. It is a biennial platform for

national and international experts in the oil & gas industry to exchange views and share

knowledge, expertise and experiences.

DRDO inks MoU with IIT Delhi to establish JATC

The Defence Research & Development Organisation (DRDO) has

signed a MoU with Indian Institute of Technology (IIT) Delhi to

establish a Joint Advanced Technology Centre (JATC). The JATC

will be located in the campus of IIT Delhi at the upcoming

Science and Technology Park (Mini-Science Park ‘MSP’). The

objective of JATC is to undertake and facilitate multi-

disciplinary directed basic and applied research in the jointly identified research verticals. The

JATC will enable Directed, Basic & Applied Research and will engage with premier research

institutes through multi-institutional collaboration.

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