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Important Current Affairs 7th May 2017

Important Current Affairs 7th May 2017 

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important Current Affairs 7th May 2017 with Free PDF in English and Hindi, which will update you with latest headlines, news from various domains i.e: National News, Sports, Business, Awards & recognition. It is useful for the preparation of competitive exams like: SSC, SBI, IBPS PO, Clerk, Railways & Various other Entrance examinations.

Current Affairs 7th May 2017: NATIONAL NEWS

Union Cabinet approves modifications in 7th CPC recommendations

The Union Cabinet chaired by the Prime Minister Narendra Modi on 3 May 2017 approved modifications in the recommendations of 7th CPC (Central Pay Commission) on pay and pensionary benefits in the course of their implementation.
●    Earlier, in June 2016, the Union Cabinet had approved implementation of the recommendations of 7th Pay Commission with an additional financial expenditure of Rs 84933 crore for 2016-17 including the arrears for 2 months of 2015-16.
●    The benefit of the proposed modifications will be calculated with effect from 1 January 2016, the date of implementation of 7th CPC recommendations.
●    The modified formulation of pension revision will lead to an additional benefit to the pensioners and an additional expenditure of approximately Rs 5031 crore for 2016-17 over and above the expenditure already incurred.  
●    It will benefit over 55 lakh pre-2016 civil and defence pensioners and family pensioners.

Civil aviation ministry announces new rules for unruly behaviour

Forced to act after Shiv Sena MP Ravindra Gaikwad’s assault on an Air India staff member, the civil aviation ministry on Friday announced new guidelines for the unruly behaviour of passengers on flights, news agency ANI reported. 
●    Civil Aviation Secretary RN Choubey while addressing a press conference announced that the ministry has put instances of unruly behaviour into 3 categories and falling in these brackets can lead to flight bans for passengers. 
●    According to the news agency Reuters, the step has been taken as India is looking at creating a national no-fly list of unruly passengers. 
●    The list will be maintained by the country’s civil aviation regulator, Civil Aviation Secretary R.N. Choubey said.
●    Disruptive Behaviour: Level 1 will be disruptive behaviour like physical gestures etc. The punishment in this category is a suspension for 3 months.
●    Physical Abuse: level 2 offences will include physical abuses like pushing, kicking, sexual harassment etc. 
●    The punishment in the 2nd category is a suspension for 6 months.
●    Life Threats: Level 3 offences will include life-threatening behaviour. In this case, the passengers can be suspended for up to 2 years.

Black money worth $ 770 billion entered India in 2005-2014

An estimated US$ 770 billion in black money entered India during 2005-2014, US-based think tank Global Financial Integrity (GFI) has said in its latest report. 
●    Nearly US$ 165 billion in illicit money exited the country during the same period, the global financial watchdog said. 
●    During 2014 alone, about US$ 101 billion black money entered the country while US$ 23 billion exited, the report added.
●    “Illicit financial flows (IFFs) from developing and emerging economies kept pace at nearly US$ one trillion in 2014,” it said.
●    Titled ‘Illicit Financial Flows to and from Developing Countries: 2005-2014’, the report is the first global study to place equal emphasis on illicit outflows and inflows. 
The report said total illicit financial outflow was three per cent (about US$ 165 billion) of India’s total trade of US$ 5500.744 billion between 2005-2014.

99% urban kids use Internet, 54% have weak password: Study

As much as 98.8 per cent of children in urban areas use Internet and 54.6 per cent have weak password, making them vulnerable to cyber criminals, says a survey.
●    The survey was conducted across 13 cities in the country, covering 2,700 students by Telenor India.
●    "A whopping 98.8 per cent of children in urban areas are using Internet and 54.6 per cent of those surveyed use 'weak passwords' that is passwords with only alphabets or numbers and which are less than 8 characters," Telenor India's WebWise report said.
●    The survey noted that 54.82 per cent children share their passwords with their friends, family or relatives, hence creating a threat to their digital security.
●    The WebWise report found that 83.5 per cent students aged between 6 to 18 years are active on social media, and hence are likely to have a higher threat perception.
●    As per the study, over 35 per cent children have experienced their account being hacked while 15.74 per cent said that they have received inappropriate messages.

The Alfred High School where Mahatma Gandhi studied makes way for a museum

The Alfred High School here — a 164-year-old institution where Mahatma Gandhi studied — has been shut down by the authorities to make way for a museum.
●    The proposal to convert this state-run Gujarati medium school, also known as Mohandas Gandhi High School, into a museum was accepted by the Gujarat government last year.
●    Mahatma Gandhi passed out from the school in 1887 at the age of 18.
●    Going ahead with the decision, school authorities have started issuing school leaving certificates to all 125-odd students, said officials.
●    Last year, the Rajkot Municipal Corporation (RMC) had sent a proposal to the state government to shut down the school and convert it into a museum.
●    Upon receiving the proposal, the Gujarat government had recently asked the Education department to start the process of handing over the school building to the RMC, said Rajkot Municipal Commissioner B N Pani.

Current Affairs 7th May 2017: ECONOMY

Union Cabinet approves issuing ordinance to resolve NPAs of banks

To eliminate the problem of bad loans, the Union Cabinet on 3 May 2017 approved an ordinance to amend the Banking Regulation Act for dealing with the non-performing assets (NPAs) in the banking system.
●    Details of the ordinance will be revealed after President Pranab Mukherjee gives his assent to an ordinance to amend the Banking Regulation Act to resolve the Non-Performing Assets crisis.
●    The promulgation of the ordinance was given a green signal during the cabinet meeting chaired by Prime Minister Narendra Modi.
●    Parliamentary Standing committee on Finance tabled report on NPAs of Public Sector Banks
●    The set of measures includes the promulgation of an Ordinance to amend the Banking Regulation Act to give more powers to Reserve Bank of India (RBI) and its committees to act on behalf of banks while deciding on NPAs.
●    Reports suggest that the ordinance seeks to amend Section 35A of the Banking Regulation Act. 
●    This section of the act empowers the Reserve Bank to issue directions to the banks in the public interest and depositors.

Current Affairs 7th May 2017: DISCOVERY

New test kit can detect cancer with just one drop of blood

Chinese scientists have invented a new test, which could help diagnose multiple kinds of cancer by examining just one drop of human blood.
●    The test kit of Hsp90a protein has been developed by the researchers at Tsinghua University's School of Life Sciences for clinical use.
●    The scientists had previously identified a kind of heat shock proteins (HSP) called Hsp90a that exist within the human body and can be used as a cancer biomarker.
●    Leading on from there, lead researcher Luo Yongzhang along with his team produced an artificial Hsp90a protein that gains structural stability by regrouping proteins.
●    This feat indicates that the protein can be created in any quantity and at any time.
●    The test kit was used for clinical trials that involved around 2347 patients in eight Chinese hospitals.
●    The protein passed the clinical trial, first such one to see if it could be used as a tumour biomarker for lung cancer.
●    The kit has now received approval to enter the Chinese and European markets, almost 24 years after the protein was first discovered.

Current Affairs 7th May 2017: INTERNATIONAL NEWS

U.S. House approves tighter North Korea sanctions

The U.S. House of Representatives overwhelmingly approved legislation on Thursday to tighten sanctions on North Korea by targeting its shipping industry and companies that do business with the reclusive state.
●    The vote was 419 to 1.
●    Supporters said the legislation was intended to send a strong message to North Korea, amid international concern over the escalation of its nuclear program.
●    The measure would have to be approved by the Senate before it could be sent to the White House for President Donald Trump to sign into law.
●    Although legislation addressing North Korea has been introduced in the Senate, there was no immediate word on when or if the Senate might take up a bill.
●    Any new U.S. sanctions against North Korea would likely affect China, the North's most important trade partner.

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