11 August 2017 Current Affairs

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11 Aug, 2017

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1) In the biggest-ever investment in Indian Internet space, at least $2.5 billion was invested in Indian retail major Flipkart, as was disclosed in media reports on 10 August 2017. Which entity made this investment? – SoftBank Vision Fund

Explanation: According to media reports of 10 August 2017, India’s largest Internet firm Flipkart Ltd has raised at least $2.5 billion from SoftBank Vision Fund. This funding has taken Flipkart’s cash reserves to more than $4 billion.

Flipkart has thus increased its firepower in the fight with arch rival Amazon India for dominance over India’s e-commerce market.

Flipkart has now raised more than $6 billion in cash since starting out in 2007, by far the highest by any Indian start-up and among the highest by any start-up globally.

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2) Hamid Ansari completed his second tenure as the Vice-President of India on 10 August 2017. He thus became the second Vice-President to complete two terms. Who was the first to complete two Vice-Presidential terms? – S. Radhakrishnan

Explanation: Sarvapelli Radhakrishnan, the first Vice-President of the country, was also the first to complete two Vice-Presidential terms. His two terms were from 13 May 1952 to 12 May 1962. He later became the second President of India.

Hamid Ansari, the 12th Vice-President, has now become the second to complete two Vice-Presidential terms. His first term started from 11 August 2007 while his second term started in August 2012.

Ansari also has unique distinction of having served three Presidents – Pratibha Patil (2007-2012), Pranab Mukherjee (2012-2017) and Ramnath Kovind. He is the only Vice-President to achieve this distinction.

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3) Which private bank announced first-of-its-kind Instant Credit Card Service on 9 August 2017 under which customers can log in through their internet banking account for an instant credit card? – ICICI Bank

Explanation: ICICI Bank on 9 August 2017 announced the launch of Instant Credit Card Service, which will enable its savings account customers to get a credit card instantly, in a completely digital and paperless manner. This is the first-of-its-kind offering in the Indian banking industry.

Using this service, pre-qualified customers can apply and get credit card number and other important details online, using which, he/she can immediately start shopping online, without having to wait for the physical card to arrive.

Currently, this facility to apply for a credit card is available through the Bank’s internet banking platform. It will also be available shortly on iMobile, the Bank’s mobile banking application.

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4) During August 2017 the 3-decade old National Crime Records Bureau (NCRB) was merged with which entity? – Bureau of Police Research and Development (BPRD)

Explanation: The Union home ministry on 4 August 2017 issued an order on the merger of National Crime Records Bureau (NCRB) with the Bureau of Police Research and Development (BPRD). The merger has been done so as to improve administrative efficiency and optimal utilisation of resources.

The BPRD Director General (DG) will be the head of the merged new entity, where the NCRB Director, an Additional DG rank post will report to the former.

The NCRB was created in 1986 as the central police organisation to collect crime data, on various parameters, from across all the states of the country. On the other hand BPRD was established on 28 August 1970 primarily for the modernisation of police forces.

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Know, who is Vijay Kelkar and what is PPP !

Vijay Kelkar is a renowned economist and a former Finance Secretary. He was appointed head of newly constituted committee to give recommendations to recast the model of Public-Private-Partnership (PPP) model in India. India is one of the largest PPP market with over 900 projects. The Kelkar committee will review the PPP policy, suggest a better risk-sharing mechanism between private developers and the government after analysing such projects.

Know, who is Yaduveer Krishnadatta Chamaraja Wadiyar !

Yaduveer Krishnadatta Chamaraja Wadiyar was crowned as the new Maharaja of of Mysuru (Mysore) royal family. He is the 23-year old grandson of Princess Gayathri Devi, who was the eldest daughter of the last Maharaja of Mysore, Sri Jayachamarajendra Wadiyar. The coronation was held at Mysuru’s famous Amba Vilas Palace, which was decked up for the occasion.

Know about Sepp Blatter!

Swpp Blatter, was re-elected as FIFA president for a fifth term at the 65th Annual Congress of FIFA held at Zurich for four year term.

Prince Ali bin al-Hussein of Jordan stood against Blatter in this election. It is worth mentioning that FIFA is going through a major controversy regarding corruption in the organisation with two FIFA vice presidents and a recently elected FIFA executive committee member still in custody.

 


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