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Vedanta Institute Current Affairs 1 July-31 July 1 July VEDANTA INSTITUTE CURRENT AFFAIRS 1 JULY-31 JULY 1 JULY INTERNATIONAL India contributes $500,000 to UN Peacebuilding Fund India has contributed $500,000 to the UN Peacebuilding Fund, expressing hope that more funding by nations will boost efforts by the world body to build and sustain peace. India has been a member of the Peacebuilding Commission since its inception in December 2005 and has so far contributed $5 million to the Peacebuilding Fund. The fresh contribution of $500,000 to the fund will be affected over the coming days. The fund was launched to support activities, actions, programmes and organisations that seek to build a lasting peace in countries emerging from conflict. NATIONAL Innovate in India (i3) In a bid to create a globally competitive biopharmaceutical industry that addresses the country‘s major concerns around barriers to affordable healthcare, innovate in India (i3) program has been launched. It is a 250 million USD program of the Department of Biotechnology (DBT) and Ministry of Science & Technology in collaboration with World Bank. It will be implemented by Biotechnology Industry Research Assistance Council (BIRAC), a Public Sector Enterprise, set up by DBT. It is a first- of-its-kind mission that brings together industry and academia to promote entrepreneurship and indigenous manufacturing in the biopharmaceutical sector. This Mission aspires to create an enabling ecosystem to promote entrepreneurship and indigenous manufacturing in the sector. The programme will specifically focus on the development of new vaccines, bio-therapeutics, diagnostics and medical devices to better address the rising burden of diseases in the country. It will also bring isolated Centres of excellence together, enhance regional capabilities and strengthen the current bio-clusters network in terms of capacities as well as quantity and quality of output. This endeavor will help nurture next- generation technical skills; promote entrepreneurship; and support institutions in adoption of global innovations, technologies, and licensing models. It will provide young entrepreneurs the confidence as well as the systemic support to pursue their aspirations in biotechnological innovation, and transform India into a global hub for cutting-edge biotechnology research and development. Mizoram celebrates 31st anniversary of Mizo peace accord The 31st anniversary of the signing of the historic Mizo peace accord between the Union government and the erstwhile underground Mizo National Front (MNF) was celebrated on 30th June in Mizoram. The Mizo Accord was signed on June 30, 1986 ushering in an era of peace after 20 years of violence and disturbance in the state. Under the Accord, the government agreed to grant full statehood to Mizoram, along with its own High Court. A university was proposed. The Accord promised constitutional protection for Mizo religious and social customs, and laws of the Mizo people. Mizo was notified as an official Indian language. The MNF agreed to break all contact with other insurgent groups in the Northeast. ECONOMY,BANKING AND FINANCE GST Council cuts tax rate on fertiliser to 5 pc from 12 pc Just a couple of hours before the Goods and Services Tax (GST) roll out, the all-powerful GST Council has reduced the tax rate on fertiliser to 5 percent from previously decided 12 per cent. Finance Minister Arun Jaitley, who heads the GST Council comprising representatives of states, states the decision to reduce the tax rate on fertiliser was taken because of apprehensions that price of the crop nutrient may go up. The GST Council, in another move to give relief to farmers, also cut the tax rate on exclusive parts of tractors from 28 per cent to 18 per cent. 1 VEDANTA INSTITUTE CURRENT AFFAIRS 1 JULY-31 JULY Govt lowers interest rate by 0.1 % on small saving schemes for July-Sep quarter The government has lowered interest rate on small saving schemes by 0.1 percent for the July- September quarter. The move will prompt banks to lower deposit rates. The rates of small saving schemes like PPF, Kisan Vikas Patra and Sukanya Samriddhi have been lowered across the board compared to the April-June quarter. Since April last year, interest rates of all small saving schemes have been recalibrated on a quarterly basis. According to finance ministry notification, investments in the public provident fund (PPF) scheme will fetch lower annual rate of 7.8 percent. Kisan Vikas Patra (KVP) investments will yield 7.5 per cent and mature in 115 months. The one for girl child savings, Sukanya Samriddhi Account Scheme, will offer 8.3 percent annually, from 8.4 per cent at present. The investment on 5-year Senior Citizens Savings Scheme will yield 8.3 per cent. BHEL signs pact with Japanese firm for manufacturing coaches for metro trains Bharat Heavy Electricals Ltd has entered into a technology collaboration agreement with Kawasaki Heavy Industries Ltd (KHI) of Japan for manufacturing of stainless steel coaches and bogies for metros. The agreement covers establishing design, engineering and manufacturing facilities at BHEL using Japanese technology. It will also entitle BHEL for all technological advances and upgrades. BHEL supplies electric as well as diesel locomotives, EMUs, and propulsion systems for Indian Railways. Kawasaki Heavy Industries manufactures heavy equipment/products and its Rolling Stock Company has supplied EMU (Metro/Commuter) train sets to various countries like US, Singapore, Taiwan, Hong Kong etc., besides Japan. PIB launches web page on GST The government's information dispensation arm, Press Information Bureau has launched a special page for the Goods and Services Tax. The page on the PIB website was launched by Principal Director-General, Press Information Bureau, A. P. Frank Noronha. The web page on GST is a one-stop platform for all information on the new tax regime. It contains press releases issued till date on the Goods and Services Tax (GST) in both Hindi and English. The web page also contains various presentations and FAQs on GST. EVENTS Textiles India PM Modi recently inaugurated ‗Textiles India 2017‘ In Gandhinagar. This is India‘s first-ever mega trade event for the textiles sector, showcasing the nation as a global sourcing hub and investment destination for manufacturers world-wide. The three-day conference ‗Textiles India 2017‘ will see participation from 2,500 international buyers. India‘s first-ever mega trade event for the textiles sector tomorrow, showcasing the nation as a global sourcing hub and investment destination for manufacturers world-wide. ENVIRONMENT,SCIENCE AND TECH SIERRA ODC building in Coimbatore gets world‟s second highest green rating: SIERRA ODC building has been recognised as the world‘s second highest ranking Green Building, with a score of 103 out of 110 under LEED certification. The building uses 100% renewable energy. Sierra has also installed a 100% water recycling system. It uses the recycled water for watering the fauna that is set up in nearly 25% of the premises. This watering system too is controlled, restricting the flow according to the requirement. The Green Building Council Inc. (GBCI) has honoured Sierra with the platinum certificate. 2 VEDANTA INSTITUTE CURRENT AFFAIRS 1 JULY-31 JULY AWARDS AND HONOURS Indian-Americans to be honoured with Great Immigrants Award Two Indian-Americans, Adobe Chief Shantanu Narayen and former US Surgeon General Vivek Murthy are among 38 immigrants to be honoured this year for their role in helping advance the country's society, culture and economy. Narayen and Murthy will be honoured with the prestigious 'Great Immigrants' annual award on US's Independence day on 04th July 2017. Murthy, born in the UK and a Harvard and Yale alumnus, was appointed by former President Barack Obama in 2014, becoming the first-ever Indian-American to occupy the post and also the youngest ever surgeon general of the country. Narayen, a native of Hyderabad has an undergraduate degree in electronics engineering, a master's degree in computer science, and an MBA from UC Berkeley. 2 JULY INTERNATIONAL Chinese heavy-lift carrier rocket launch fails China‘s launch of a new heavy-lift rocket, the Long March-5 Y2, carrying what the government said was its heaviest ever satellite, failed on Sunday, official news agency Xinhua said. The same rocket type had been expected to take China‘s latest lunar probe to the Moon this year and to return with samples. An anomaly occurred during the flight of the rocket,‖ Xinhua said after the rocket blasted off early evening from the southern island province of Hainan. ECONOMY,BANKING AND FINANCE PNB To Block All Maestro Debit Cards Soon Punjab National Bank (PNB) Maestro debit cards holders will face a card blockage if they fail to replace it with a more secure EMV chip based card by the end of this month. Punjab National Bank has identified that there are about one lakh customers with old Maestro debit cards and has started sending them SMSes as well. The replacement is as per RBI advisory issued in 2015, asking all the banks to migrate to a much secured EMV chip based cards, an official of the bank said. GOVT SCHEME/DIGITAL INDIA Health Ministry‟s mobile app eVIN wins GSMA Asia Mobile Award Indigenously developed mobile application for digitising vaccine logistics, eVIN, has won the prestigious GSMA Asia Mobile Award 2017 (AMO) for outstanding contribution to the UN‘s sustainable development goals in Asia. The Electronic Vaccine Intelligence Network (eVIN) is an online real-time vaccine
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