5 August 2017 Current Affairs

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05 Aug, 2017

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1) According to the information disclosed by the union government on 4 August 2017 it has set up a new exchange-traded fund (ETF) comprising 22 scrips including ONGC, IOC, SBI and Axis Bank. It is the second ETF from the government after CPSE ETF. What is the name given to this ETF? – Bharat-22

Explanation: Bharat-22 is the name of the new exchange-traded fund (ETF) established by the Union Government that comprises of 22 blue-chip public sector units, state-owned banks and some holdings in SUUTI. It has a diversified portfolio of six sectors, including energy, FMCG, finance, basic material and industrial and utilities.

Shares of nine PSUs, including Oil and Natural Gas Corporation (5.3% stake), Coal India Ltd (3.3%), and Indian Oil (4.4%), and four state-owned banks including State Bank of India (8.6%), will comprise the ETF. Besides, SUUTI holdings in Axis Bank (7.7%), ITC (15.2%) and Larsen and Toubro (17.1%) will also be part of the fund.

Other entities in Bharat-22 are BPCL, Nalco, Bharat Electronics Limited, Engineers India, NBCC, NTPC, Indian Bank, Bank of Baroda, NHPC, SJVNL, GAIL, PGCIL, REC, PFC and NLC India.

The first CPSE ETF consisted of scrips of 10 PSUs — ONGC, Coal India, IOC, GAIL (India), Oil India, PFC, Bharat Electronics, REC, Engineers India and Container Corporation of India.

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2) The Union Government on 4 August 2017 made Aadhaar mandatory for registration of deaths so as to provide an effective method to prevent identity fraud. Mandatory Aadhaar registration for death will come into effect from which date? – 1 October 2017

Explanation: According to a notification issued by the Home Ministry on 4 August 2017, Aadhaar number will be required for the purpose of establishing the identity of the deceased for the purpose of death registration with effect from 1 October 2017.

It would be applicable for the residents of all states except Jammu and Kashmir, Assam and Meghalaya, for which a date would be notified separately.

The use of Aadhaar will result in ensuring accuracy of the details provided by the relatives or dependents or acquaintances of the deceased. It will provide an effective method to prevent identity fraud. Further, it will obviate the need for producing multiple documents to prove the identity of the deceased person.

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3) Which country is poised to be the first country in the Gulf region to grant permanent residency to some of the foreigners as a landmark legislation was approved by this country’s Parliament on 2 August 2017? – Qatar

Explanation: Qatar Government on 2 August 2017 approved a legislation with the potential to ultimately transform Gulf societies by granting permanent residency to some of the foreigners who dominate its population.

Under the new law, permanent residents will be treated more like Qatari nationals and will benefit from elements of the state’s generous welfare system, including education and health-care services.

They will also be given priority, after locals, for military and civilian public jobs and would be allowed to own property and run certain commercial activities without a local partner. Citizenship, however, will remain off-limits to foreigners.

The legislation was approved after Qatar’s ruler, Sheikh Tamim bin Hamad Al Thani, instructed officials in a speech on 22 July 2017 to expedite measures to lure investments and reduce the economy’s reliance on energy in the wake of the boycott of the country by Saudi Arabia and its allies.

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4) Union Government divested 5.5% of its stake in which public sector entity through the offer for sale (OFS) route on 2 and 3 August 2017? – Hindustan Copper Limited (HCL)

Explanation: The Union Government raised Rs. 327 crore by divesting 5.5% of its stake in Hindustan Copper Limited (HCL) through the offer for sale (OFS) route. The govt. was looking to sell up to eight per cent in HCL, however, the OFS failed to garner the expected response due to lukewarm response from institutional investors.

The OFS issue was open for non-retail investors on 2 August, while for retail investors the issue was conducted on 3 August 2017. The issue was in line with the government’s steep divestment target set in the Union Budget 2017-18.

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5) US stock exchange Dow Jones during August 2017 crossed which mark for the first time ever? – 22,000 points

Explanation: On 2 August 2017 Dow Jones industrial average crossed the 22,000 mark, the first time it crossed this mark.

The persistent gains this year have come courtesy of robust profits at big companies, low interest rates and a rare alignment of developed economies in good or improving health at the same time.

The extraordinary rise of the stock markets since early 2009 – when it was a mere 7,063, has greatly fattened the portfolios of American investors.

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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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