Important Current Affairs 23rd September 2017

Important Current Affairs 23rd September 2017

Current Affairs 23rd September 2017: NATIONAL NEWS

Embassy, Taurus to form JV for Rs 900-cr project in Kerala

Realty firm Embassy group today said it will form a joint venture with US-based Taurus Investment Holdings to develop commercial projects, including an SEZ, in Kerala at an investment of about Rs 900 crore.
●    Taurus and Bangalore-based Embassy will develop a 10-acre SEZ project at Trivandrum comprising 1.4 million sq ft of office space through a joint venture firm Winterfell Realty.
●    Taurus will have 51 per cent stake in the JV while Embassy will hold 49 per cent, although the economic interest will be equal between the two partners.
●    In another 10-acre of non-SEZ land, Embassy and Taurus will form separate JV to develop 0.9 million sq ft of office space in the second phase. 
●    Taurus will independently develop 1.2 million sq ft of retail space and a hotel on this land.
●    When asked about investment, he said the total project cost will be about Rs 850-900 crore, which will be infused in form of equity and debt by the partners.
●    The JV expects to sign a lease agreement with Kerala government by November for the SEZ project and start construction work early next year.

Sewage plant unveiled at RSS icon Deendayal Upadhyaya village

To save the Yamuna from pollution, Union Agriculture Minister Radha Mohan Singh Friday inaugurated an eco-friendly and economically viable sewage treatment plant at Farah — the birthplace of RSS ideologue Pandit Deendayal Upadhyaya.
●    The plant has a capacity to recycle 75,000 litres per day of sewage into agriculture-safe irrigation water by using a new treatment technology developed by the Delhi-based ICAR-Indian Agricultural Research Institute (IARI).
●    “Many villages face the problem of handling wastewater. We are promoting recycling of sewage water across the country. A new plant set up here will help use of treated water for irrigating farm fields,” Singh told 
●    The treatment will reduce 75-85 per cent heavy metal pollution from the wastewater, making recycled water completely safe for both agriculture and aquaculture, he added. 
●    The plant has been set up with one-time investment of Rs 45 lakh by the central government and will be managed by a trust ‘Pandit Deendayal Upadhyaya Dham’, IARI’s Water Technology Centre Director Ravinder Kaur told. 
●    At present, Farah village — which is 32 km away from Mathura — generates around 40,000 litres per day of sewage, which gets disposed of in the Yamuna river in the absence of a cost-effective recycling plant, she said.

DIAL gives nod to use of Hindon airbase for RCS flights

The Delhi airport operator DIAL has accepted a government proposal on temporary use of Indian Air Force's Hindon airbase for commercial flights under the regional connectivity scheme (RCS).
●    The civil aviation ministry had mooted the idea because of slot constraints at the Indira Gandhi International (IGI) Airport.
●    According to an agreement between Delhi International Airport Limited (DIAL), a consortium led by GMR Group, and the government, commercial flight operations from an airport within 150 kms of the IGI Airport are not allowed.
●    "DIAL has agreed with the Ministry of Civil Aviation's proposal," a GMR spokesperson wrote in response to an e-mail query.
●    According to the terms of negotiation, the use of Hindon airbase is only an interim measure until DIAL completes expansion work at the IGI Airport.
●    "Use of Hindon Air Force Station will only be a temporary and stop-gap arrangement for the limited purpose of operating flights and networks awarded under RCS. 

PM Narendra Modi to launch ‘power for all’ scheme on September 25

Prime Minister Narendra Modi will launch ‘power for all’ scheme on September 25 to mark the birth anniversary of RSS ideologue Pandit Deendayal Upadhyaya.
●    Prime Minister Narendra Modi will launch ‘power for all’ scheme on September 25 to mark the birth anniversary of RSS ideologue Pandit Deendayal Upadhyaya. 
●    The scheme will aim at providing 24X7 electricity to all and the development was confirmed by power minister RK Singh yesterday. 
●    “Another challenge is coming on September 25…when the Prime Minister will announce a big scheme for providing power for all 24X7,” Singh said at The India Power Conclave organised by Network18.
●    Even though Singh didn’t reveal too many things about the scheme, he didn’t mention that it is touted to cover all rural families after expected electrification of all villages by December end this year. 
●    He added that the Narendra Modi led government has asked the states to prepare electrification projects which would be discussed and approved for release of funds under the scheme.

After 7 days, close to one crore citizens join the Swachhata Hi Seva Campaign

In Chennai to keep the city ‘clean and green’, a battery of Judges from the Madurai Bench of the Madras High Court joined hands with public, students, officials of the district administration, city corporation, police, Public Works and Income Tax departments in a massive cleaning drive along the Vaigai river.
●    In Maharashtra 430 GPs have been declared ODF and over 58 thousand toilets have been constructed since September 15th. 
●    In what can be described as an act of deep commitment, world famous sand artist, Mr Sudarshan Pattnaik, used his award money to construct two toilets for fisherman in Puri, Odisha after receiving a personal letter from the Hon’ble Prime Minister to engage with the cause of swachhata. 
●    A young girl from Bihar created a song on Swachhata which is drawing significant attention and accolades. 
●    In Jharkhand swachhata sentiment was spread to educational institutions by appealing to the universities to clean their campuses.
 

Current Affairs 23rd September 2017: ECONOMY

India to strengthen Korea Plus cell to facilitate investments

India will further strengthen the Korea Plus cell created here to promote and facilitate investments, Commerce and Industry Minister Suresh Prabhu said today. 
●    The cell was launched last year to promote and facilitate investments from the east Asian country in India. 
●    Korea Plus comprises a representative each from the South Korean Ministry of Industry, Trade and Energy and Korea Trade-Investment and Promotion Agency ( KOTRA). 
●    It also includes three officials from Invest India. 
●    "We would further strengthen the Korea Plus cell created to facilitate Korean investments in India," Prabhu said in a series of tweets. 
●    He is in Seoul for Asia-Europe Meeting ( ASEM) of economic ministers. This meeting is happening after a gap of 12 years.India and South Korea are also reviewing their free trade agreement. 
●    Officially dubbed as Comprehensive Economic Partnership Agreement (CEPA), the pact was implemented in January 2010. 
●    The bilateral trade in 2016-17 increased to $16.82 billion from $16.57 billion in the previous fiscal. 

Only Tata, Sekhsaria can appeal as minority shareholders in Tata Sons: NCLAT

Out of 51 shareholders of Tata Sons only Ratan Tata and Narotam Sekhsaria are eligible to file against oppression and mismanagement as minority shareholders, NCLAT has observed while granting waiver to Cyrus Mistry on the minimum shareholding rule calling it 'exceptional' and 'compelling circumstances'. 
●    The National Company Law Appellate Tribunal (NCLAT) had yesterday waived the minimum shareholding rule to the ousted Tata Sons chairman, Mistry to file a case of alleged oppression of minority shareholders against Tata Sons. 
●    "We find that except Ratan Naval Tata having issued shareholding of 31.43 per cent and Narotam S Sekhsaria having 17.01 per cent shareholding capital of the company, none of the 49 members are eligible to file an application under Section 241, individually having less than 10 per cent of the shareholding," NCLAT said in the order, uploaded today. 
●    Section 241 of the Companies Act 2013 empowers a minority shareholder of the company to approach NCLT against oppression and mismanagement. However, Section 244 mandates that they should have at least 10 per cent ownership in a company and the tribunal has power to grant the waiver. 
 

Current Affairs 23rd September 2017: GLOBAL NEWS

More than 4,00,000 people sign petition to save Uber in London

Over four lakh people have signed a petition calling on Londoners to save Uber, a day after the US-based ride-hailing app firm lost its licence to operate on the streets of the UK’s capital.
●    In a big blow to Uber, London’s transport regulator announced yesterday that it will not renew the taxi company’s licence, citing “public safety and security implications”. 
●    More than 460,000 signatures have been added to Uber’s petition on Change.org titled “Save Your Uber in London” as the company prepares to appeal against the decision.
●    “If this decision stands, it will put more than 40,000 licensed drivers out of work and deprive millions of Londoners of a convenient and affordable form of transport. 
●    This decision is affecting the real lives of a huge number of honest and hard-working drivers in London,” the petition reads.
●    “The 3.5 million Londoners who rely on Uber to get a safe, reliable and affordable ride around the best city in the world will be astounded by the decision to ban Uber from the capital,” it said.
●    Transport for London (TfL), chaired by London Mayor Sadiq Khan, had announced that it will not to renew Uber’s Operator Licence when it expires on September 30 as it was not a “fit and proper” operator.