General Studies & Current Affairs for Bank, SSC, CLAT, Civil Services and other Competitive Exams

17 November 2014 National: IICT scientist Srivari Chandrasekhar wins Infosys Prize 2014 A technologist, who has made importan...

GK & Current Affair Updates: November 17 - 2014

17 November 2014


IICT scientist Srivari Chandrasekhar wins Infosys Prize 2014
A technologist, who has made important contributions in potential drug developments, Srivari Chandrasekhar from CSIR-IICT, Hyderabad, has been named the winner of the Infosys Prize 2014 in Physical Sciences. The award carries a purse of Rs. 55 lakh, a 22 carat gold medal and citation. The President will present the award on January 5 in Kolkata. The prize is awarded annually by the Infosys Foundation. Chandrasekhar’s latest contribution is to develop a technology for manufacturing Misoprostal, an abortive drug also used in the treatment of ulcers. He, along with his team members, had won the CSIR Technology award-2014 for this achievement. He has also prepared some important drug molecules such as bedaquiline for multi-drug resistant TB, Galantamine for Alzheimer's disease, Sertraline for treatment of depression, Nebivolol for hypertension and marine natural products such as Eribulin, Azumamide, Arenamide and Bengazole which are scarce to get from nature, with potent biological activities.

34th IITF to showcase items from world’s different parts
With more participants the 34th India International Trade Fair IITF is going to showcase alluring items from different parts of the world. The enthusiasm of foreign business communities to participate in the International Trade Fair in Delhi is gaining momentum. In 2014, 25 countries participated in IITF. In 2013 it was 19. To promote Trade during exhibition the organisar also arrange 25 ATM's of different Bank's to be installed in almost every hall.

Connaught Place is now a Wi-Fi hotspot
Visitors to Connaught Place can now stay connected to the Internet while they eat, work, shop or just lounge around Central Park as the entire market is now a Wi-Fi zone. Member of Parliament from New Delhi constituency Meenakshi Lekhi launched the service. The project has been taken up by Tata Teleservices Limited as part of their corporate social responsibility in association with New Delhi Municipal Council (NDMC).


Indians in Singapore win young entrepreneurs award
Two Indians and an Indian-origin Singaporean have won an award for young social entrepreneurs for developing a mobile phone-based English learning solution for elementary school students from low-income families in India. Pramodh Rai, 27, Ankita Gupta, 23, and Priya Andleigh, 23, who teamed up to develop this learning solution named 'Jugnu', were chosen from a group of 76 youth representing 12 nations including Cambodia, Indonesia, Malaysia, Republic of Korea, Singapore, Thailand and the US.

Napoleon Bonaparte's hat fetches £1.5million at auction
Napoleon Bonaparte's two-pointed hat has fetched £1.5 million at an auction of the French Emperor's belongings by the Monaco royal family. A South Korean bidder got his hands on the iconic two-pointed bicorne hat worn by Napoleon 200 years ago which went for a price far above the expected €400,000 at the sale in Fontainebleau near Paris. Prince Albert II wrote in the catalogue of the items being sold by French auctioneers Osena, said that due to necessary rehabilitation of the Palais de Monaco, which will enhance their cultural heritage. Monaco royal family plans for the organized the auction plans to use the proceeds to fund the palace renovations. 

Business & Economy:

Govt launches modified DBT for LPG in 54 districts
The Modified Direct Benefit Transfer for LPG, DBTL, scheme has been launched in 54 districts. In the modified DBTL scheme, LPG consumers in 54 districts spread over 11 states can get cash subsidy to buy the cooking fuel at market price. In the first phase, 54 districts have been targeted to cover 2 crore, 33 lakh households. The second phase will start January next year to cover all the states. Under the previous scheme which had been launched in June 2013, it was mandatory for the customers to have an Aadhar card. But in the modified scheme, government has done away the necessity of Aadhar number. Kerala is the first state to see the roll out of DBTL scheme in all its 14 districts where the Aadhaar penetration is 92 per cent. Kerala will be followed by Goa.

Raghuram Rajan on shortlist for BRICS bank chief post
Reserve Bank Governor Raghuram Rajan, a Union Cabinet Minister and a well-known banker in infrastructure finance have figured so far in discussions on possible candidates for BRICS’ New Development Bank president. This short list is not final; the Modi government is scouting for more names before it takes a decision on the nomination. The BRICS nations — Brazil, Russia, India, China and South Africa — had agreed at their sixth Summit in Fortaleza that India will nominate the first president of the bank and that its headquarters will be located in China.

JSW Energy to buy 2 hydro projects of JP Power for Rs 9,700 crore
JSW Energy will acquire two hydro-electric projects of Jaiprakash Power Ventures in Himachal Pradesh for about Rs 9,700 crore. JSW Energy has agreed to acquire from Jaiprakash Power Ventures and other shareholders, 100 per cent stake in Himachal Baspa Power company for a base enterprise value of Rs 9,700 crore. The board of directors of Jaiprakash Power has approved the transfer of 300 MW of Baspa II hydro-electric project and 1,091 MW Karcham Wangtoo hydro project into a separate company — Himachal Baspa Power company.

Government proposes norms for easier exits, revival of MSMEs
The government has proposed amendments to the MSME Act with the twin objectives of time-bound exit and revival of loss-making units to help them consolidate their businesses and re-deploy capital in other greenfield ventures. The proposed amendments include establishment of revival and exit committee as an adjunct to MSME facilitation council and establishment of appellate authority.


Djokovic wins ATP Finals after Roger Federer pulls out due to injury
World number one Novak Djokovic was crowned champion of this year's ATP World Tour finals after Roger Federer withdrew from the title clash due to a back injury. This was Djokovic's fourth season ending title and he also became the first man to win three World Tour Finals titles on the trot since Ivan Lendl in the 1980s.

Ace shuttlers Saina Nehwal, K Srikanth win China open singles tiltles
In a historic day for Indian Badminton, top shuttlers Saina Nehwal and K Srikanth have clinched the women's and men's singles title of the China Open Super Series Premier in Fuzhou, China. While Olympic bronze-medallist Saina defeated Akane Yamaguchi of Japan, Srikanth notched up a stunning straight-game victory over two-time Olympic champion Lin Dan of China to register his maiden Super Series title. In her sixth appearance in the prestigious tournament, Saina prevailed over the 17-year-old Akane 21-12, 22-20 in the women's singles final. Srikanth beat five time world champion Lin 21-19, 21-17 in the men's singles final. This was the first time any Indian male shuttler has won a Super Series Premier event ever since the Super Series and Premier tournaments were introduced.

Asian Beach Games: Harinder Pal wins gold
Harinder Pal Singh Sandhu held his own to defeat Hong Kong’s Yip Tsz Fung in an exciting three-game affair to win gold in the men’s squash event at the Asian Beach Games in Phuket, Thailand. Apart from Sandhu, India won two bronze medals from Kush Kumar (men’s singles) and Aparajitha Balamurukan (women’s singles).

Rashid Khan triumphs
India’s Rashid Khan clung on for a nailbiting one-shot victory at the $750,000 Chiangmai Golf Classic, after a final nine which saw the leadership see-saw with compatriot Jyoti Randhawa. Khan’s final-round 68 gave him a four-round 271 and 17 under for the event, a single shot ahead of Randhawa and overnight leader Thanyakon Khrongpha, who tied for second with 272.

Russia's Melnikova wins ITF singles title
Russia's Marina Melnikova, defeated Tadeja Majeric of Slovakia in straight sets to win the singles title in the 25,000 USD, CCI-ITF Women's tennis tournament in Mumbai. Third seed Marina carved out a 6-2 7-6 victory over her Slovakian rival in the final to win the title at the Cricket Club of India. India's challenge in singles had ended at the quarter-final stage with the elimination of the country's No. 1 player Ankita Raina. Raina, however, won the doubles in partnership with China's Jia-Jing Lu.