Saturday, 28 November 2015

Current Affairs November 28, 2015

Lok Sabha Adopts Resolution Committing to Uphold Constitution

  • The Lok Sabha affirmed its commitment to the principles and ideals of the Constitution and resolved to uphold its sanctity and supremacy.
  • In a resolution moved by Speaker Sumitra Mahajan, the House also said that it respected the Constitutional institutions their freedom and authority.
  • The House vowed to protect the sovereignty, unity and integrity of the country and the democratic, socialist and secular character.
  • Besides, it pledged to maintain transparency, probity and accountability in public life and members dedicated themselves to equality and social justice and contribute to the task of building a strong republic.

Queen Elizabeth II to open Commonwealth meeting in Malta

  • Queen Elizabeth II is set to open the Commonwealth heads of government meeting on the Mediterranean island of Malta.
  • The summit is expected to deal with climate change, the threat of extremist violence and other issues.
  • The 89-year-old British monarch will briefly address the other leaders of the 53-nation organisation Friday. She is accompanied by her husband Prince Philip and her son Prince Charles, heir to the throne.
  • The Commonwealth links more than 2 billion people on five continents, including large countries like India and Australia and small island states like Tonga and Vanuatu.
  • British Prime Minister David Cameron has announced plans to set up a Commonwealth unit targeting the extremist “scourge” fuelling international terrorism.
  • The Commonwealth summit is held every two years.

Geelani elected life-time chief of Hurriyat

  • Syed Ali Shah Geelani was on Friday elected life-time chairman of the Hurriyat faction. The group has also enforced vital changes in its organisational structure and set up special committees to rework its reach in Kashmir, Chenab Valley and Pir Panjal regions.
  • “All leaders see Geelani’s leadership as unshakable, steadfast and uncompromised. They have accepted him as the group’s lifetime chairman,”.
  • Two senior leaders Shabir Ahmad Shah and Nayeem Ahmad Khan who left the Hurriyat led by Mirwaiz Umar Farooq, have been given key positions in the party. Shah has been made secretary- general.

India successfully test-fires indigenously built nuclear-capable Agni-I missile

  • India successfully test-fired indigenously built nuclear-capable Agni-I missile, capable of hitting a target at a distance of 700 kms, from a test range off the Odisha coast as part of Strategic Forces Command (SFC) training exercise.
  • The surface-to-surface, single-stage missile, powered by solid propellants, was test-fired from a mobile launcher at 1002 hours from launch pad-4 of the Integrated Test Range (ITR) at Abdul Kalam Island (Wheeler Island).

China launches latest remote sensing satellite

  • China has successfully launched a remote sensing satellite which will focus on experiments on survey of land, crop yields and disaster relief.
  • The satellite named Yaogan-29 was carried by a Long March-4C rocket after it was launched from Taiyuan in the country’s northern Shanxi province.
  • This is the 219th mission for the Long March rocket family. China had launched the first “Yaogan” series satellite, Yaogan-1, in 2006.
  • The satellite will be used for experiments, land surveys, crop yield estimates and disaster relief, state-run Xinhua news agency .
  • This launch comes weeks after China had successfully launched Yaogan-28.

Indian Navy gets second indigenous anti-submarine warship ‘Kadmatt’

  • The second Anti-Submarine Warfare (ASW) Corvette, ‘Kadmatt’, built indigenously by GRSE shipyard here, was formally handed over to Indian Navy.
  • The super-sophisticated frontline warship was handed over by Rear Admiral (Retd) AK Verma, Chairman and Managing Director of Garden Reach Shipbuilders and Engineers Limited (GRSE), to the Commanding Officer of the ship, Cdr Mahesh C Moudgil, at a ceremony.
  • At 109m long and with a displacement of 3,200 tonnes, the vessel can reach a maximum speed of 25 knots with an endurance of over 3,400 NM at 18 knots speed. The warship is designed to accommodate 17 officers and 106 sailors.

Hinduja Global signs on Anirban Lahiri as brand ambassador

  • Hinduja Global Solutions Ltd (HGS) has signed Asia’s No. 2 golfer, Anirban Lahiri, as its brand ambassador.
  • The first BPM company to have a brand ambassador in the international market, HGS will leverage the association with the ace golfer to further build the HGS brand, facilitate business growth, and increase brand recall with potential and existing customers, the company said in a statement.
  • In the last few years, HGS has been involved in various worldwide golfing events as a sponsor and participant, including the Ryder Cup in the US and CG Cup in Dubai, the statement added.

Govt panel to evaluate candidates for RBI Deputy Governor’s post

  • Central bank’s Executive Directors Patra and Mohanty are in fray as Urjit Patel’s term nears end.
  • A government appointed panel will interview candidates next month for the post of Deputy Governor of the Reserve Bank of India as the term of Urjit Patel, the central bank’s incumbent in charge of monetary policy, expires in January
  • Mr. Patel, 52, was appointed for a three-year term by the previous United Progressive Alliance government and took charge in January 2013.
Eligibility for RBI Deputy Governor:
  • A central bank Deputy Governor can be appointed for a term with a maximum of five years or till the age of 62, whichever is earlier. Some other candidates will also be interviewed.
  • The RBI has provision for 12 Executive Directors, which was increased from nine following the appointment of three new officials in 2014.
  • The RBI has four deputy governors and typically two are from the outside, of which traditionally one is a commercial banker and the other an economist.

HSBC India downs the shutters on private banking operations

  • HSBC Holdings is shutting down its private banking operations in India, a move interpreted in some quarters as a fallout of the investigation into allegations that the bank failed to prevent money laundering.
  • The bank, however, said this was part of its global reorganisation. HSBC will offer its existing private banking clients an option to move their accounts to the retail division.
  • HSBC conveyed its decision through an e-mail sent to its employees.
  • The banking and financial services company employs about 70 personnel in its private banking division. They will be moved to its retail arm. The bank’s total employee strength in India will remain the same at 32,000, even after the closure of the division.

IDBI Bank staff on strike against privatisation plan

  • Over 30,000 employees of IDBI Bank are on a one-day strike to protest government’s plans to privatise the lender by creating a Axis Bank-like structure for it.
  • The employees are protesting under the banner of United Forum of IDBI Officers and Employees, supported by All India Bank Officers Association.
  • At present, the government holds 76.5 per cent stake in IDBI Bank.
Reason for Strike:
  • The government indirectly controls 29.19 per cent in Axis Bank through the administrator of the Specified Undertaking of the Unit Trust of India (SUUTI), Life Insurance Corp and four other public sector general insurance companies.
  • “We are against the government plans to sell its stake to private players. It wants to achieve its disinvestment target of Rs 69,500 crore through this,” a union member said.
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