Current Affairs 24th September 2018

Current Affairs 24th September 2018 - Important Points

• SEBI eases KYC norms for Foreign Portfolio Investors on - 21st September 2018
• Scheme for protection of exotic Neela Kurinji plants  announced by - Tamil Nadu Government 
• ISRO setting up third launch pad at Sriharikota for - Gaganyaan mission
• India’s first Coal-gasification fertilizer plant to come up in - Talcher, Odisha
• Village Rockstars is nominated for Oscar Awards on - 22nd September 2018
• PM Modi to inaugurated Sikkim's first-ever airport on - 24th September 2018
• Centenary celebrations of Dakshina Bharat Hindi Prachar Sabha inaugurated by - President
• International Day of Sign Languages is observed globally on -  23rd September 2018

Current Affairs 24th September 2018 - Details

SEBI eases KYC norms for Foreign Portfolio Investors on - 21st September 2018

The SEBI on September 21st, 2018 comfortable the KYC needs guidelines for the FPIs. The market regulator relaxed the guidelines after considering the interim references of the Securities and Exchange Board of India working group under the Chairmanship of Harun R Khan, a former deputy governor of the RBI.
The market regulator also strained that the valuable ownership criteria in Prevention of Money Laundering (Maintenance of Records) Rules, 2005 (PMLA Rules) should be made valid for motive of Know Your Client and not for determining eligibility of Foreign Portfolio Investors.
KYC requirements norms for the Foreign Portfolio Investors

• The norms state that in case of category II and category III Foreign Portfolio Investors from high-risk jurisdictions, the Know Your Client review should be accomplished on an annual basis.
• Category II and III present Foreign Portfolio Investors should provide the list of BOs and applicable Know Your Client documentation within 6 months from the date of this circular i.e. September 21st.
• If a present Foreign Portfolio Investors fails to obey with the appropriate Know Your Client necessities by the given deadline, the disturbed custodian shall not permit such Foreign Portfolio Investors to make fresh purchases till the time Know Your Client necessities are fulfilled with.
• However, such Foreign Portfolio Investors will be permitted to sell the securities already purchased by it.
• Such Foreign Portfolio Investor will be permissible to disinvest its holdings within a period of 180 days from the expiry date. 
• In case the Foreign Portfolio Investor remains non-compliant with the needs even after 180 days from the given deadline, its Foreign Portfolio Investor registration will no longer be lawful and it would prerequisite to disinvest its holdings proximately.
• The NRIs, OCIs, and RIs will be permissible to be constituents of Foreign Portfolio Investor as long as a single NRI, OCI or RI holds with minimum 25% and the aggregate holdings by such entities is less than 50% of the assets under management of the Foreign Portfolio Investor.
• A non-investing Foreign Portfolio Investor may be directly or indirectly completely retained and controlled by an NRI, OCI, or RI. The restriction that NRI, OCI, or RI shall not be in control of Foreign Portfolio Investor does not smear to Foreign Portfolio Investors that are offshore funds for which no-objection certificate has been issued by the board in terms of Securities and Exchange Board of India (Mutual Funds) Regulations, 1996. 
• The limits on suitability conditions are not appropriate to Foreign Portfolio Investors investing solely in mutual funds in India.

Scheme for protection of exotic Neela Kurinji plants  announced by - Tamil Nadu Government 

Government of Tamil Nadu has broadcasted Scheme for protection of exotic Neela kurinji (Strobilanthus kunthianus) plants that bear flower only once in 12 years. This plan comes after complaints that such rare and ecologically unique flowers are being parceled and sold on the commercial purposes.
More about Neelakurinji plant

• Neela kurinji is a tropical plant species. It is native to Shola forests in Western Ghats. It is also found in Shevroys Hills, Anamalai hills and Agali hills in Kerala and Sanduru hills in Karnataka.
• It cultures at height of 30-60 cm on hills slopes at an altitude of 1300-2400m where there is no tree forest.
• The flowers of Neela kurinji are purplish-blue in colour and blossoms once in 12 years. These flowers have no fragrance or any medicinal value but due to these flowers, Nilgiri hills in southern tip of Western Ghats are known as blue mountains. It has been classified as scarce species.
• In ancient Tamil literature, kurinji flowers represent love. Paliyan tribal people living in Tamil Nadu habit this flower bloom as reference to calculate their age.

ISRO setting up third launch pad at Sriharikota for - Gaganyaan mission

Indian Space Research Organisation is forming 3rd launch pad at Sriharikota, AP to undertake Gaganyaan manned space flight programme. Indian Space Research Organisation presently has 2 launch pads which are already full. 3rd launch pad is being formed for the human space flight. It will be ready for use in time for the mission. Additionally, Indian Space Research Organisation is scouting for location on western sea coast near Gujarat to build another launch pad for Small Satellite Launch Vehicles.
More about Small Satellite Launch Vehicles

• Indian Space Research Organisation is developing Small Satellite Launch Vehicles to suggest
  inexpensive launch options for smaller satellites through ANTRIX.
• The Small Satellite Launch Vehicles is anticipated to decrease launch time and less cost to launch small satellites, which are greater in demand.
• India Space Research Organisation presently piggybacks smaller satellites on Polar Satellite Launch Vehicle and Geosynchronous Satellite Launch Vehicle shortened along with bigger satellites.
  Gaganyaan Mission
• It will be India’s 1st manned space mission. Under it, India is scheduling to send 3 humans as
  Gaganyatris into space, in low earth orbit by 2022 by 75th Independence Day for period of 5-7 days.
• The mission was proclaimed by PM Narendra Modi during his 72nd Independence Day speech. Under this mission, team of 3 astronauts will manner experiments on microgravity in space.
•  The team will be nominated jointly by Indian Air Force and Indian Space Research Organisation after which they will undergo working out for 2-3 years.
• India will be 4th country in the world after United States, Russia and China to introduce human spaceflight mission.
  ISRO’s preparation
• Indian Space Research Organisation already has started work on manned mission in 2004.
• It already has authenticated many of the critical technologies needed for human spaceflight via various tests such as Space Capsule Recovery Experiment, Crew Module Atmospheric Re-Entry Experiment and Pad Abort Test.
• Indian Space Research Organisation will utilise its Geosynchronous Satellite Launch Vehicle Mk-III launch vehicle which can transport heavier payload of Gaganyaan.
• This launch vehicle will take off from new launch pad of Indian Space Research Organisation.

India’s first Coal-gasification fertilizer plant to come up in - Talcher, Odisha

Indian PM Narendra Modi initiated beginning of work for India’s 1st Coal-gasification based fertilizer plant with pet-coke amalgamation will come up in Talcher, Odisha. The coal gasification-based fertilizer plant is being established by Talcher Fertilizers Limited.
Important Facts

• The fertilizer plant will be constructed at an assessed investment of Rupees 13,000 crores and is focused to be commissioned by 2022.
• On accomplishment, this fertilizer plant will have capacity of manufacturing 1.27 Million Metric Tonnes Per Annum of Neem coated prilled urea using coal and pet-coke as feedstock. 
• Neem coated urea decreases leakage of nitrogen into soil and checks diversion of urea from agriculture usages.
• For this fertilizer plant, Talcher Fertilizers Limited has been selected captive coal mine in Talcher area to make sure steady supply of the feedstock for preserving nonstop operations of the plant.
• It will harvest 2.38 million metric standard cubic meter per day natural gas corresponding syngas from coal, that leading to decrease in import bill of Liquefied Natural Gas by above Rupees 1,620 crores annually.
  Significance of Coal-gasification based fertilizer plant
• It will utilise gas produced from coal, thus reducing addiction on urea and gas imports.
• It will encourage alternative habit of domestic coal in environment friendly manner, thereby backup India’s commitments under CoP 21 Paris Agreement 2016. Pollutants like CO2 generated by this fertilizer plant will be reused for generation of Urea and other by-products.
• Further, ash formed by it will be transformed to inert slag which is non–hazardous.

Village Rockstars is nominated for Oscar Awards on - 22nd September 2018

An Assamese language feature movie by National Award-winning moviemaker Rima Das, “Village Rockstars” was nominated as India’s formal entry for the Best Foreign Language Film category of the 2019 Academy (Oscar) Awards, on September 22nd, 2018. The declaration was made by S.V.Rajendra Singh Babu, who is the Chairman of the Selection Committee for Oscar Award, FFI.

Important Highlights

• The movie’s entry to Oscars 2019 is admirable as it0 had to contest with 27 other competitors movies including Hichki, Padmaavat, Raazi, Love Sonia, Nude, Pihu, Manto, October, Tumbaad, Halkaa, Kadvi Hawa and Padman.
• Rima Das performances as a one-woman army for the movie; she is the writer, director, cinematographer, editor and the producer of the movie. She took more than three years to script Village Rockstars, which was then shot during a time period of 130 days.
• Village Rockstars explains the story of 10 years old Dhunu, a young girl from a remote village in Assam, who dreams of maintaining a guitar and forming a rock band notwithstanding the terrible financial situation at home.
• The movie was shot in director Das’ native village of Chhaygaon and most of the troupe members are non-actors from the village, counting the leading character Dhunu which is played by Das’ niece Bhanita Das.
• Village Rockstars is programmed for a pan-India release on September 28th, 2018.
• The movie had its World premiere at the Toronto International Movie Festival 2017.
• The movie has toured to above 70 movie festivals worldwide.
• At the 65th National Movie Awards former in 2018, the movie secured 4 awards for Best Feature, Best Editing, Best Location Sound Recordist and Best Child Artist.

PM Modi to inaugurated Sikkim's first-ever airport on - 24th September 2018

Sikkim’s 1st-ever airport will be initiated by Indian PM Narendra Modi on September 24th, 2018 at Pakyong. The development is a historic occasion for the complete northeast region of India. 
Talking on the event of the airport’s induction, Union Minister for Development of Northeastern Region Jitendra Singh informed that it has been more than 40 years since Sikkim became a part of India, but now the PM will initiate the airport in this hill State and bring it on the air-map of the worldwide.
The airport was built by the Airports Authority of India. Until now, Sikkim was the only state in India without a working airport.
Interesting Facts

• The airport is spread over 201 acres and is situated on top of a hill about 2 kilometres above Pakyong village at 4,500 feet overhead sea level. 
• This airport has strategic location approximately 60 kilometres from the Indo-China border and appeoximately 30 kilometres away from capital city, Gangtok. 
• The airport’s site makes it strategically relevant from the nation's security point of view.
• The Indian Air Force will find this airport convenient for the landing and taking-off of its aircrafts.
• The runway of the Pakyong airport is 1.75 kilometres with an expenditure projected cost of more than Rupees 605 crores.
• With the new airport, the travelling time to Sikkim will be decreased by approximately five hours because, previously, the nearby airport to which the tourists could approach was Bagdogra in West Bengal.
• This airport has a capacity to handle 50 in-bound and as many out-bound passengers with a huge big improvement to connectivity and tourism in the north-east as it is one of the few airports in the region.
• The airport was impressed from the mountain side using huge geo technical 'cut and fill' engineering works.
• Sikkim has been one of the favourite tourist destinations. Hence, from the tourist point of view, the airport will be a major supporter, as it will benefit advance connectivity and save travel time for the tourists.
  Few Other Details 
• The airport is not only India’s 100th operational airport but also one of the nation’s 5 highest airports.
• The 1st commercial flight from Pakyong is planned to start from October 4th, when SpiceJet will initiate its daily Kolkata-Sikkim flights.
• Primarily, the airport will cater only to domestic flights, but in future it will also deliver international flight services connecting Sikkim with other nations like Paro in Bhutan, Kathmandu in Nepal and Dhaka in Bangladesh.

Centenary celebrations of Dakshina Bharat Hindi Prachar Sabha inaugurated by - President

President Ram Nath Kovind has initiated centenary celebrations of Dakshina Bharat Hindi Prachar Sabha in New Delhi. Dakshina Bharat Hindi Prachar Sabha is an independent body working under the grant from Union Government.
More about Dakshina Bharat Hindi Prachar Sabha 

• Dakshina Bharat Hindi Prachar Sabha is national intigrity that focuses to progress Hindi literacy among non-Hindi speaking people of South India. It is HQ in Chennai, Tamil Nadu.
• Union Government had recognised it as one of the Institutes of National Importance in 1964. It is fragmented into 4 divisions one each for south states of AP, Karnataka, Kerala and Tamil Nadu.
• Dakshina Bharat Hindi Prachar Sabha was found by Annie Besant with support from Mahatma Gandhi in 1918 with sole objective of prorogating Hindi in South India to bond the northern and southern states of the country in greatest interest of integration of the country.
• Gandhiji was founder president of Dakshina Bharat Hindi Prachar Sabha till his death.

International Day of Sign Languages is observed globally on -  23rd September 2018

International Day of Sign Languages was observed yearly worldwide on 23rd September every year
along with International Week of the Deaf. This day purposes to raise awareness of the importance of
sign language in the full understanding of the human rights of people who are deaf. Present year, it was
1st International Day of Sign Languages. Its theme was “With Sign Language: Everyone is Included!”.
Did you know?
International Day of Sign Languages was suggested by World Federation of the Deaf, which is a
federation of 135 national associations of deaf people, representing approximately 70 million deaf
people’s human rights around the world. Later, UNs General Assembly introduced this day by
implementing resolution A/RES/72/161 in December 2017. The choice of 23rd September
commemorates date of founding of World Federation of Deaf in 1951. International Week of the Deaf
was 1st observed in September 1958. As per to the World Federation of Deaf, there are about 72 million deaf people around the world. Above 80 percent of them live in developing nations. Collectively, they use above 300 different sign languages.