GA- 10 Aug 2017

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GA- 10 Aug 2017

BitBay launches trading platform for digital currency

  • BitBay, one of the top ten cryptocurrency trading platforms in the world, has launched a dedicated platform for trade and exchange of digital currencies such as bitcoin, litecoin, ether, Lisk, monero, dash and gamecredits. 
  • The company will also work towards creating awareness about digital currencies and also removing misconceptions related to these currencies in a market like India.
  • BitBay claims to be the only exchange in India that provides trade and exchange of multiple cryptocurrencies, high level security standards, including a “cold wallets” policy and two-factor authentication solutions.
  • It will be offering six digital currencies to keep and trade with local currency and will carry out demo trading from August 10 till August 24.

National Cyber Coordination Centre made operational: Government 

  • The Union Ministry of Electronics and Information Technology (MEITY) has announced that the first phase of National Cyber Coordination Centre (NCCC) has become operational.
  • NCCC has been set up to scan the country’s web traffic to detect cyber security threats.
  • It scans the cyberspace in the country for cyber security threats at metadata level to generate situational awareness.
  • It will be India’s first layer for cyber threat monitoring.
  • All communication with govt and private service providers will be monitored by it. 
  • NCCC is a multi-stakeholder cyber-security and e-surveillance agency implemented by Indian Computer Emergency Response Team (CERT-In), Union Ministry of Electronics and Information Technology.

SoftBank Vision Fund invests in Flipkart to become one of its largest shareholders

  • Flipkart Group (Flipkart), India’s leading e-commerce marketplace, has announced an investment – a mix of primary and secondary capital – from SoftBank Vision Fund (Vision Fund), the world’s largest technology-focused investment fund.
  • This is the biggest ever private investment in an Indian technology company, and will make the Vision Fund one of the largest shareholders in Flipkart. 
  • The investment is part of the previously announced financing round, where Flipkart had raised capital from three of the world’s premier technology companies – Tencent, eBay and Microsoft.
  • After this financing round, Flipkart will have in excess of $4 billion of cash on balance sheet.
  • India has a thriving Internet market with close to 500 million Internet users and as per market research, the Indian e-commerce market is expected to grow at a five-year CAGR in excess of 30 per cent.

Lok Sabha passes bill approving merger of associate banks with SBI

  • The Lok Sabha passed the bill to repeal the SBI (Subsidiary Banks) Act 1959, State Bank of Hyderabad Act 1956 and to further amend the State Bank of India Act, 1955, following the merger of five associates with the parent SBI.
  • The merger of the five associate banks with the SBI will lead to increased capital base and availability of loan. 
  • With this merger, the SBI has come in the list of top 50 banks globally and is ranked at the 45th position. 
  • During the last two years, 29 crore bank accounts were opened, of which 25 per cent were zero balance accounts.
  • The farm loans increased from Rs 3.5 lakh crore in 2009-10 to Rs 10.65 lakh crore in 2016-17. 
  • Five associates and the Bharatiya Mahila Bank became part of State Bank of India (SBI) beginning April 1, catapulting the countrys largest lender to among the top 50 banks in the world.
  • The five associates that were merged are State Bank of Bikaner and Jaipur (SBBJ), State Bank of Hyderabad (SBH), State Bank of Mysore (SBM), State Bank of Patiala (SBP) and State Bank of Travancore (SBT).
  • Following the merger, the total customer base of SBI increased to 37 crore with a branch network of around 24,000 and nearly 59,000 ATMs across the country.
  • The merged entity began operation with a deposit base of more than Rs. 26 lakh crore and advances level of Rs. 18.50 lakh crore.

IOC gets nod to buy US crude oil every month this year

UP Govt launches Namami Gange Jagriti Yatra

  • The Uttar Pradesh Govt has launched Namami Gange Jagriti Yatra, an awareness drive along banks of Ganga River to maintain cleanliness.
  • The campaign was flagged off by Chief Minister Yogi Adityanath from the state capital in Lucknow. 
  • The drive has been organised by Uttar Pradesh Homeguard volunteers to spread awareness in 25 districts situated on the banks of river Ganga for maintaining the cleanliness and ever-flowing nature of the river.
  • It will pass through 108 blocks of 25 districts of UP from Bijnore to Ballia along along Ganga covering around 1,025 kms.

Telangana CM initiates Rs. 2,000-cr Sriram Sagar modernisation project

NCERT launches web portal to supply Textbooks online

  • The National Council of Educational Research and Training (NCERT) has launched a web portal for supply of textbooks to schools and individuals. 
  • The web portal of NCERT will enable schools to place orders for their books online.
  • It will also enable individual buyers to place their orders by logging onto the portal and books will be delivered at their doorstep.
  • It will enable schools to place orders for the session 2018-19 by enabling them to log on to the portal, by entering their respective Boards’ affiliation numbers and other details.
  • The NCERT is an autonomous organisation set up in 1961 by the Union Government as a literary, scientific and charitable Society under the Societies’ Registration Act. 

ISRO to develop full-fledged Hyperspectral Imaging Earth observation satellite

  • The Indian Space Research Organisation (ISRO) is planning to launch a full-fledged niche Earth observation (EO) satellite — called the Hyperspectral Imaging Satellite (HySIS).
  • The HySIS satellite has critical chip called an “optical imaging detector array’” indigenously developed by ISRO. 
  • Its launch will allow ISRO to enter the domain of operational hyperspectral imaging from earth orbit. 
  • HySIS satellite developed by ISRO can see in 55 spectral or colour bands from 630 km above ground. 
  • It can be used for a range of applications from monitoring the environment, crops, looking for oil and minerals, military surveillance. 
  • It was manufactured at ISRO’s electronics arm, the Semi-Conductor Laboratory, Chandigarh.
  • It can read upto 1000 x 66 pixels.

Kynan Chenai wins bronze at 7th Asian Shotgun Championship

  • India shooter Kynan Chenai won a bronze in men’s trap event, his first international medal at the senior level, at the 7th Asian Shotgun Championship in Astana, Kazakhstan. 
  • Kynan first shot 116 out of 125 to qualify for the six men final round in third spot and then held on to the position till the end of the finals.

Peepli Live actor Sitaram Panchal passes away

  • Bollywood actor Sitaram Panchal passed away after a three-year long battle with kidney and lung cancer. He was 54.
  • He was best known for his work in films like Peepli Live, Pan Singh Tomar, The Legend of Bhagat Singh and Slumdog Millionaire.

BJP MP from Ajmer Sanwar Lal Jat passes away

  • Former Union Minister and BJP MP from Ajmer, Sanwar Lal Jat passed away at the All India Institute of Medical Sciences (AIIMS) in New Delhi. 
  • He had a cardiac arrest, which caused a damage to his brain and he was on ventilator. 
  • He had served as Minister of State for Water Resources in the Narendra Modi government.

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