DAILY G.A UPDATE : 21-10-2016
In this competitive age, everyone needs to be updated with the current affairs. So, here is the important news for your upcoming exams like IBPS PO, IBPS CLERK, RRB and many more.
1. RBI permits 100 per cent FDI in ‘other financial services’
The Reserve Bank of India has permitted 100 per cent foreign direct investment in ‘Other Financial Services’ carried out by non-banking finance firms.
“Other Financial Services will include activities which are regulated by any financial sector regulator viz. RBI, Sebi, IRDA, Pension Fund Regulatory and Development Authority, National Housing Bank or any other financial sector regulator as may be notified by the government in this regard,” it said.
2. HCL Tech to buy Butler America Aerospace for $85mn
IT services major HCL Technologies said that it will acquire Butler America Aerospace for USD 85 million in cash, a move aimed at strengthening its position in the aerospace and defence engineering services space.
Butler Aerospace provides engineering, design services and aftermarket engineering services to US aerospace and defence customers, providing them services in areas of mechanical and structural design, electrical design, tool design and aftermarket engineering services. “The consideration for the proposed transaction is USD 85 million to be paid in cash. The proposed acquisition will exclude the staffing business of Butler America Inc,” the country’s fourth largest IT Company said in a statement.
Butler America Aerospace had revenues of USD 85.4 million for the year ended December 31, 2015. The transaction, when consummated, is likely to be EPS accretive, it added.
The acquisition, subject to regulatory approvals including CFIUS approval in the US, is expected to be completed by December 31, 2016.
3. Indian-American appointed DHS academic advisory council member
A top Indian-American woman academic and president of the University of Houston was appointed as member of the US Department of Homeland Security's Academic Advisory Council.
The appointment of Renu Khator, Chancellor of the University of Houston System and president of the University of Houston (UH), was announced by US Secretary of Homeland Security Jeh Johnson.
The council, which is made up of 23 members, including college presidents, academic leaders and inter-agency partners, provides advice and recommendations to the secretary on matters related to homeland security and the academic community.
Since its formation in 2012, members have issued more than 120 recommendations in the areas of academic research and faculty exchange, campus resilience, cybersecurity, international students, Department of Homeland Security (DHS) academic programmes and recruitment of current students and recent graduates.
Khator, who will serve a four-year term on the council, was selected by DHS based on her expertise in higher education leadership and University of Houston’s leadership in homeland security research.
University of Houston is the lead institution for the DHS Center of Excellence for Borders, Trade and Immigration Research, awarded in late 2015, and one of only three universities in Texas with dual designation by the National Security Agency and the DHS for its educational and research programmes in cybersecurity and cyber defense.
4. New York City Mayor declares October 19 as ‘Waris Ahluwalia Day’
In a rare honour, New York City declared October 19, 2016 as Waris Ahluwalia day in recognition of the Sikh-American actor and designer for his “powerful” message of countering ignorance and advocating for religious understanding and tolerance.
New York City Mayor Bill de Blasio honored Ahluwalia at a special reception at his official residence Gracie Mansion in New York to celebrate the festival of Diwali.
De Blasio presented Ahluwalia a proclamation that declared October 19, 2016 in the city of New York as ‘Waris Ahluwalia Day’.
5. Mukesh Ambani's wealth at $22.7 billion equals Estonia's GDP: Forbes
Industrialist Mukesh Ambani, who has been named India's richest person for the 9th year in a row with a sharp increase in networth to USD 22.7 billion, has fortune that is equal to Estonia's GDP, says Forbes India.
Similarly, Wipro's Azim Premji, the 4th richest Indian on the Forbes list, has a networth of USD 15 billion -- more than Mozambique's GDP of US $14.7 billion.
Sun Pharma's Dilip Shanghvi is the second richest with a wealth of US $16.9 billion, while the Hinduja Family moved up to the third position (US $15.2 billion) on the annual list of India's 100 Richest People.
Pallonji Mistry with a wealth of US $13.90 billion is the 5th richest Indian on the list.
According to magazine, the total wealth of India's top five billionaires, which stands at a whopping US $83.7 billion, is more than the cost of 1,230 Mars Orbiter 'Mangalyaan' Missions and is more than 18 times the cost of hosting the 2016 Rio Olympics.
Much of the wealth is accumulated in the top half of the 'Richie Rich' league, Forbes said, adding that if the '80-20 rule' is applied to the list, it indicates a 'trickling down' of fortunes to the lower order.
"The 80-20 rule, when applied to the rich list, should translate to the top 20 billionaires accounting for 80 per cent of the wealth. However, the share of the top 20 in overall wealth has steadily eroded from 70 per cent in 2009 to 52 percent in 2016, indicating a trickling down of fortunes to the lower order," the business magazine added.
According to the list, the total wealth of the 100 richest stood at US$ 381 billion, up 10 per cent from US$ 345 billion in 2015.
Since 2014, all the richest Indians have been 'billionaires' instead of some millionaires earlier. The minimum cut-off to figure in the 100 Richest Indians list hit a record high of US$ 1.25 billion this year. Last year it was US$ 1.1 billion.
6. The Sleepwalker's Dream authored by Dhrubajyoti Borah released
Book titled The Sleepwalker's Dream authored by Dhrubajyoti Borah released. The book authored by Borah, President of Asam Sahitya Sabha, narrates the journey of a group of militants towards an elusive freedom and an uncertain future.
The Sleepwalker's Dream is about June, Ron and several other rebels fleeing their hideout in Bhutan after an army attack. With them is their injured, unconscious leader, who is unlikely to survive the ordeal of their journey towards the Assam border.
Through this book, the author has tried to give life to their journey to be an insurgent and the memories that hunts them. June is the only woman in the group who is strangulated in memories of her long-lost family, her village, her innocent childhood and the tragic circumstances under which she had become an insurgent.
Ron a male insurgent too is flooded by his own memories of his boyhood and the early days of passionate commitment and high adventure.
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