11-12 January 2017 Current Affairs

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12 Jan, 2017

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1) What is the name of India’s first international exchange that was inaugurated by Prime Minister Narendra Modi on 10 January 2017 at Gandhinagar? – India INX

Explanation: India INX is the name of India’s first international exchange. It has been established at the International Financial Service Centre (IFSC) in GIFT City, Gandhinagar (Gujarat). It is a wholly owned subsidiary of BSE and is expected to compete with similar bourses in Singapore and Hong Kong.

Formal trading operations at India INX will start from 16 January 2017. It will trade in a vast range of products such as equity derivatives, currency and commodities, barring agricultural futures. Initially, the exchange will be open for 22 hours a day, which may be extended to 23 hours later. In the first year, the exchange plans to focus on equity derivatives and currency.

This exchange targeting foreign investors is India’s attempt to take on the $48 billion worth of offshore trade and business activities from Singapore, Dubai and Hong Kong, which already have such exchanges in place.

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2) Who was appointed the first head of India INX, country’s first international exchange? – V. Balasubramanian

Explanation: V. Balasubramanian was on 9 January 2017 deputed by BSE Ltd., Asia’s oldest stock exchange, to head India INX as its first Managing Director (MD) and Chief Operations Officer (COO). He was till now the Chief Business Officer (CBO) in the BSE.

BSE chief executive officer Ashish Chauhan is the chairman of the INX board, which also includes former Reserve Bank of India deputy governor Anand Sinha, and economist Ajit Ranade.

It is worth mentioning that India INX is a wholly owned subsidiary of BSE.

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3) Haryana, infamous for very low sex ratio, achieved which major achievement in sex ratio recently? – Sex ratio at the birth in the state touched the 900-mark for the first time in almost two decades

Explanation: The According to recently published data, from January to December 2016 out of 5,25,278 children were born in the state of Haryana, 2,76,414 were boys and 2,48,864 were girls. Thus sex ratio at birth (SRB) in December 2016 stood at 914 in the state. This was the first time in almost two decades that SRB crossed 900 mark in the state.

Haryana has been notorious for its skewed sex ratio and patriarchal mindset. The SRB in the state was just 834 in 2011, while the national mark stood at 914.

It is worth mentioning that Prime Minister Narendra Modi launched the ambitious “Beti Bachao, Beti Padhao” (B3P) campaign against female foeticide in Panipat in January 2015. The campaign has been seen as a major force in this historic turnaround in state’s SRB.

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4) Prime Minister Narendra Modi inaugurated the Vibrant Gujarat Global Summit 2017 in Gandhinagar on 10 January 2017. This is which edition of the biennial event primarily aimed at bringing investors to Gujarat? – 8th

Explanation: ‘Vibrant Gujarat’ is the name given to a biennial investors’ summit organized biennially by the state government of Gujarat. The event is aimed at bringing together business leaders, investors, corporations, thought leaders, policy and opinion makers to explore business opportunities in the state.

The event was organized for the first time in year 2003 and was the brainchild of the then Gujarat Chief Minister Narendra Modi. The 2017 summit is the Eighth edition of this global summit. It was inaugurated by Prime Minister Modi on 10 January 2017. The event will conclude on 13 January.

The mega exhibition is witnessing participation from across countries and will showcase over 25 sectors. After the inauguration, Prime Minister Modi also interacted with 60-odd global and Indian CEOs over a roundtable meeting.

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5) Which FIFA World Cup (men’s) would feature as many as 48 teams (from the present 32), as decided by the FIFA Council on 10 January 2017? – 2026 FIFA World Cup

Explanation: The FIFA World Cup (men) will expand to 48 teams from its current 32, starting with the 2026 edition of this showpiece event. This important decision was taken by FIFA’s decision making body, the FIFA Council on 10 January 2017.

It was also decided to have 16 groups of three teams in the group stage. FIFA president Gianni Infantino, who replaced the disgraced Sepp Blatter in February 2016, had made FIFA World Cup expansion one of his promises during his successful electoral campaign.

It is worth mentioning that 2026 FIFA World Cup doesn’t have a host nation yet, with the bidding process delayed due to the corruption scandal

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6) The marching band from which Arab country will create history by taking part in India’s Republic Day Parade 2017 and thus becoming the first-ever contingent of Arab soldiers to take part in this prestigious event? – United Arab Emirates (UAE)

Explanation: A marching band from the UAE’s defence forces will join the parade on India’s Republic Day on 26 January 2017 and it will be the first time that Arab soldiers will be marching in this iconic event of the country.

It is worth mentioning that UAE’s crown prince Sheikh Mohammed bin Zayed Al Nahyan is the Chief Guest of this year’s Republic Day Parade.

It seems that after the French marching band joined the parade in 2016 in honour of French President Francois Hollande, the practice has caught the fancy of others as well.

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