19-20 September 2017 Current Affairs

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20 Sep, 2017

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1) What is the name of the UPI-based payments app launched by Internet giant Google on 18 September 2017 with which the company joined the digital payments ecosystem in India? – ‘Tez’

Explanation: ‘Tez’ is the name of Google’s customized-for-India payments app based on the Unified Payments Interface (UPI) platform operated by the National Payments Corporation of India (NPCI). It was launched by Google on 18 September 2017.

The Tez app was made live on the Google Play Store for Android phones and the Apple App Store for iPhones. Users will be able to use the Tez app in seven languages – Hindi, Bengali, Gujarati, Kannada, Marathi, Tamil and Telugu.

For making payments, users can either pay someone using their UPI capable bank account through the Tez app, or use a UPI ID, scan a QR code or pay using a friend’s phone number. However, both parties need to have a bank account linked to the Tez app. The government has been pushing the UPI platform to boost digital payments in India, to reduce use of cash.

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2) Which entity became the first non-life insurer to bring its initial public offering (IPO) and will thus become the first such entity to be listed on Indian stock exchanges? – ICICI Lombard

Explanation: ICICI Lombard General Insurance Company’s 3-day initial public offering of Rs. 5,700 crore closed on 19 September 2017, which was the last day of its IPO. The IPO was oversubscribed almost 3 times.

The IPO comprised of offer for sale of up to 8.62 crore equity shares (representing a 19% post paid-up equity) by its two main shareholders – ICICI Bank and Canada’s Fairfax Financial Holdings. ICICI Lombard General Insurance is a joint venture between ICICI Bank and Canadian NRI Prem Watsa-promoted Fairfax Financial Holdings.

It will be the first non-life insurer to be listed on Indian stock exchanges.

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3) Who was appointed the new Chief of the National Investigation Agency (NIA) by the Union Government on 18 September 2017? – Y.C Modi

Explanation: Senior IPS officer Y.C Modi, who was part of the Supreme Court-appointed Special Investigation Team that probed the 2002 Gujarat riot cases, was named new Chief of the National Investigation Agency (NIA) on 18 September 2017. NIA is tasked with probing terrorism and terror-financing related cases.

Modi, a 1984 batch IPS officer of the Assam-Meghalaya cadre, is at present special director in the Central Bureau of Investigation (CBI). He will hold the post till his superannuation, i.e. 31 May 2021.

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4) Which state government on 19 September 2017 launched the ‘Shaheed Gram Vikas Yojana’ for upliftment of tribal areas in the state? – Jharkhand

Explanation: The ‘Shaheed Gram Vikas Yojana’ was launched by Jharkhand Government on 19 September 2017. BJP National President Amit Shah along with Jharkhand Chief Minister Raghubar Das launched the initiative from Ulihatu Village, the birth place of freedom fighter and Jharkhand’s tribal icon, Birsa Munda.

The scheme primarily aims at developing villages of freedom fighters. In addition to developing the villages, inhabitants of the villages will be provided with basic amenities. Most of the tribal villages of the state have long remained inaccessible.

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5) The Telecom Regulatory Authority of India (TRAI) on 19 September 2017 reduced the interconnect usage charges (IUC) by 57% thus giving a major blow to the incumbent mobile operators. What will be the new IUC applicable from 1 October 2017? – 6 paise per minute

Explanation: The Telecom Regulatory Authority of India (TRAI) on 19 September 2017 cut the interconnect usage charges (IUC), also known as terminating charges) by 57% from 14 paise currently to 6 paise per minute. This reduction will be effective from 1 October 2017.

The cut in IUC is being seen as a blow to incumbent mobile operators, including Bharti Airtel and Vodafone, while it will benefit the latest entrant, Reliance Jio.

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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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