Daily Current Affairs – 27th February 2015

Daily Current Affairs – 27th February 2015

  • Today’s International Polar Bear Day. This is to raise awareness about the conservation status of the polar bear and organized by Polar Bears International due to the impact of global warming and reduced sea ice on polar bear populations. It encourages people to find ways to reduce their carbon output, such as by turning down their thermostat or driving less and has also been used to encourage the installation of energy efficient insulation in houses.

  • Today’s National Doctor’s Day in Vietnam. It celebrated in healthcare organizations a to recognize the contributions of physicians to individual lives and communities. These events are typically organized by staff at a healthcare organization. Staff may organize a lunch for doctor’s present the physician with a token of recognition.

  • Justice Amitava Roy was sworn in as a judge of the Supreme Court, prior to this, he served as the chief justice of Orissa High Court with tenure of three years. With his elevation, the strength of the SC judges has gone up to 29. SC has a sectioned strength of 31 judges.

  • Six Indian women figured in Forbes 50 ‘Power Business Women 2015’ list which includes women entrepreneurs and executives, CEOs and founders. The six women are Arundhati Bhattacharya, Chandana Kochchar, Akhila Srinivasan, Kiran Mazumdar Shaw, Shikha Sharma and Usha Sangwan.

  • Gopinath Pillai appointed as special envoy to Andhra Pradesh to speed up construction of new capital in the state by Singapore Minister for Foreign Affairs and Law K. Shanmugam and Andhra Pradesh Chief Minister N Chandrababu Naidu. He was working as a Chairman of a Singapore based think-tank, Institute of South Asian Studies (ISAS).

  • Ratan Tata, ex-chairman of the Tata Group was honoured with an honorary Doctorate of Automotive Engineering at the South Carolina Automotive Summit by the Clemson University. He was presented with this award for his contributions to the global automotive industry. He also serve as board of directors of Mondelez and Alcoa, Monetary Authority of Singapore, JP Morgan Chase, Rolls-Royce, Temasek Holdings and international advisory boards of Mitsubishi Corp.

  • Kshatrapati Shivaji appointed as the Chairman and Managing Director (MD) of Small Industries Development Bank of India (SIDBI) on deputation basis for a period of three years. He is currently the Principal Secretary (Expenditure), Finance Department in Maharashtra government and also 1986 batch IAS officer.
READ  Daily Current Affairs - 25th February 2015

  • The National Stock Exchange (NSE) and Gujarat International Finance Tec-City (GIFT) signed a Memorandum of Understanding (MoU) to establish an international exchange in Gujarat in the presence of Gujarat Finance Minister Saurabh Patel. The GIFT Special Economic Zone is being developed as India’s first International Financial Services Centre (IFSC). It is spread over 886 acres with investment of Rs.78000 crore rupees. An estimated five lakh persons are claimed to get direct employment in this mega commercial centre. This will allow Indian and international entities to deal in financial products and services from India

  • Arun Jaitely, Union Finance Minister presented Economic Survey of India 2014-15 in the Parliament who audits the developments in the Indian economy for more than previous 12 months, sum up the performance on major development programmes and highlights the policy initiatives of the government and the prospects of the economy in the short to medium term.

  • Union Government accepted the recommendation of the 14th Finance Commission which is headed by former Reserve Bank of India (RBI) Governor Dr. YV Reddy seeks to provide more power to the states for their progress in the third week of February 2015. It was constituted by the orders of President on 2 January 2013 in accordance to the Article 280 of the Constitution of India. The commission submitted its report with recommendations to the President Pranab Mukherjee on 15 December 2014.

Recommendations of the 14th Finance Commission

• Tax devolution should be the primary route for transfer of resources to the states

• The increased devolution of the divisible pool of taxes is a compositional shift in transfers – from grants to tax devolution

• The panel recommended horizontal distribution by using broad parameters like population (1971) and changes in population since then, income distance, forest cover and area among others

• Distribution of grants to States and local body was recommended by using 2011 population data with weight of 90 percent and area with weight of 10 percent

READ  Daily Current Affairs - 17th February 2015

• Grants to States should be divided into two and they are

a) Grant to duly constituted Gram Panchayats

b) Grant to duly constituted municipal bodies

• Grants should be divided into two parts and they include, basic grants – depending upon the performance of the gram panchayats and municipal bodies. The ration of basic to performance grant is 90:10 for Panchayats and 80:20 for municipalities

• It recommended a total grant of 287436 core rupees for a five-year period. Of this fund, 200292 crore rupees will go for panchayats while the remainder will go to the municipalities

• It views there is a need to change the sharing pattern in respect to various Centrally-sponsored schemes. It wants the stats to share a greater fiscal responsibility for the implementation of such schemes.

  • FBI announced a a reward of 3 million US dollars for information on him. Bogachev, currently is one of the FBI’s most wanted criminal. Evgeniy Mikhailovich Bogachev. He is one of the world’s most prolific cyber criminal from Russia. The reward will be offered under the auspices of the State Department’s Transnational Organized Crime Rewards Programme, established by Congress in 2013. He is alleged for his involvement in a major cyber racketeering enterprise in which he played a role of administrator for the GameOver Zeus botnet. It is believed that he is responsible for the theft of more than 100 million US dollar from businesses and consumers in the US and around the world.

  • The Federal Communications Commission (FCC) of the United States (US) voted in a group of five-member FCC, two commissioners voted against it whereas three commissioners voted in favour of rules to implement the Net Neutrality Rules. This is due to FBI allegation on Evgeniy Mikhailovich Bogachev, one of the world’s most prolific cyber criminal from Russia, was in news recently. Some rules are as follows:

It applicable to fixed line providers as well as mobile providers.

Internet providers cannot speed up or block connections for a fee.

Broadband access has been categorized as a telecommunication service which means that it will be subject to much heavier regulation.

Rules are bar on Internet providers from any deals with content firms, for smoother delivery of traffic to consumers.

READ  Daily Current Affairs - 18th November 2014

The rules will look forward to make sure that Internet Service Providers (ISPs) in the US treat all legal content equally so as to preserve the Internet as a platform for free expression, innovation and economic growth.

  • Australian researchers unveiled the world’s first of its kind 3D printed jet engine using innovative additive manufacturing technique which was developed by a team of researchers from Monash Centre for Additive Manufacturing of Monash University in partnership with Amaero Engineering, to commercialize the product.

  • Lenovo Company was sued by unhappy customers over the Superfish adware apparently make PCs susceptible to malware attacks. It was filed against Lenovo and Superfish after Lenovo admitted to pre-loading Superfish on some consumer PCs.

  • Parliament of Jamaica passed a law to decriminalize the possession of small amount of marijuana up to 57 grams for personal use. Marijuana is widely grown in Jamaica and has cultural roots there. The country is also the biggest exporter of marijuana to the United States among Caribbean countries.

  • Veteran cinematographer Aloysius Vincent passed away in Chennai, Tamil Nadu due to brief illness. He was 86. He is survived by his two sons, wife and daughter.
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