Current Affairs 6th February 2018

Current Affairs 6th February 2018 - Important Points

• Formation of National Financial Reporting Authority sanctioned by - Union Cabinet
• Marshall Islands to launch world’s first - Digital legal tender
• 90th Academy Awards (Oscars 2018)
• Name of first Hindu woman who got elected as Senate of Upper house of Pakistan - Krishna Kumari Kohli
•  Ama Gaon, Ama Vikas programme launched by - Odisha Government

Current Affairs 6th February 2018 - Details

Formation of National Financial Reporting Authority sanctioned by - Union Cabinet

The Union Cabinet led by Prime Minister Narendra Modi on March 1st, 2018 gave its sanction for the founding of the National Financial Reporting Authority.

The National Financial Reporting Authority - NFRA will be recognized as a self-governing regulator for the auditing career. The development is the significant alterations brought in by the Companies Act, 2013.

Composition of the Authority

The National Financial Reporting Authority would include one Chairperson and 3 full-time associates.

The authority would also have 1 position of Secretary.

The conclusion is believed to increase economic growth, advance foreign and domestic investments, backing the business globalisation by concluding international observes.

Key Highlights

The jurisdiction of National Financial Reporting Authority for investigation of CA and their organizations under section 132 of the Act would encompass to listed firms and large non-listed public firms.

The Central Government would also be capable to forward such other things for investigation where the public interest would be involved.

The ICAI would, however, remain to play its regulatory character in respect of its associates in general and precisely with respect to audits relating to private limited firms and public non-listed firms under the threshold limit to be notified in the regulations.

Further, ICAI shall continue to exhibit its suggested role with respect to accounting and auditing guidelines and policies by forming its sanctions to National Financial Reporting Authority.

Marshall Islands to launch world’s first - Digital legal tender

Marshall Islands in Pacific Ocean is going to become 1st country in world to identify cryptocurrency as its legal tender and adopt clear crypto monetary system. The parliament of island has approved law to create the digital currency known as ‘Sovereign’ with symbolic representation SOV to elevation some hard-cash to bill payments and uplifting economy.

Key Points

The Marshall Islands is associating with Israeli fintech start up Neema to initiate its SOV. It will have equivalent status with US dollar as method of payment. The island nation will release 24 million SOVs in Initial Currency Offering. It will be utilised as legal tender in the nation, alongside its present local currency.

SOV released by Marshall Islands will be unlike from other cryptocurrencies consisting bitcoin because it will be formally recognized by law as legal tender and effectively supported by government. SOV is based on licensed protocol, dubbed Yokwe which mean ‘hello’ in local island language, which needs blockchain subscribers of this distal currency to validate and identify themselves, thus dodge anonymity that has kept additional cryptocurrencies from getting backing from governments.

Primarily 6 million SOVs will be traded to international depositors and proceeds from it will be utilised to pay for its budget, invest in schemes to moderate effects of global warming and backing those people still affected by United States nuclear testing.

Background

The Marshall Islands is compactly united with United States under Compact of Free Association and utilises US dollar as its formal currency. Under close association, United States issues the Marshall Islands with approximately $70 million every year as an aid. In turn, United States operates a military base on Island’s Kwajalein Atoll.

90th Academy Awards (Oscars 2018)

The 90th Academy Awards usually known as Oscars was organised at the Dolby Theatre in Hollywood, Los Angeles. The award offered in 24 groups by Academy of Motion Picture Arts and Sciences, admiring best films of year 2017.

The Shape of Water secured the greater number of awards to four in totality at the ceremony after it was chosen into uppermost 13 categories. It was followed by Dunkirk, chosen for 8 groups and Three Billboards Outside Ebbing, Missouri, grouped for 7 categories.

Important Winners of Oscars 2018 :

• Best Picture: The Shape of Water.
• Best Actress: Frances McDormand for Three Billboards Outside Ebbing, Missouri as Mildred Hayes.
• Best Actor: Gary Oldman for Darkest Hour as Winston Churchill.
• Best Director: To Guillermo del Toro for The Shape of Water.
• Best Supporting Actress: To actress Allison Janney– I for Tonya.
• Best Supporting Actor: Sam Rockwell for Three Billboards Outside Ebbing, Missouri.
• Best Original Screenplay: Get Out – Decorated by Jordan Peele.
• Best Adapted Screenplay: Call Me by Your Name – James Ivory.
• Best Cinematography: Blade Runner 2049 for Roger A. Deakins
• Best Original Score: The Shape of Water to Alexandre Desplat.
• Best Original Song: “Remember Me” from Coco.
• Best Sound Editing: Dunkirk by Richard King and Alex Gibson.
• Best Foreign Language Film: A Fantastic Woman from Chile in Spanish.
• Best Visual Effects: for Blade Runner 2049.
• Best Production Design: to The Shape of Water.
• Best Documentary-Feature: to Icarus.
• Best Animated Short Film: Dear Basketball.
• Best Make-Up and Hairstyling: Darkest Hour

Name of first Hindu woman who got elected as Senate of Upper house of Pakistan - Krishna Kumari Kohli

Pakistan elects first Hindu woman, Krishna Kumari Kohli, to Senate of Upper House of Pakistan.

39 years old Krishna Kumari Kolhi from Sindh region in Pakistan became 1st-ever Dalit Hindu female to get designated as Senator, member of upper house of Muslim-majority nation.

She won the election for the reserved seat for female from Sindh region.  She is a member of Bilawal Bhutto Zardari-headed Pakistan People’s Party.  Her designation symbolizes major landmarks for females and minority rights in Pakistan. Previously, Pakistan People’s Party had chosen first Hindu woman named Ratna Bhagwandas Chawla as senator.

Krishna Kumari Kohli

She belongs to distant village in Nagarparkar district of Thar in Sindh region of Pakistan. She was born in poor family in February 1979. She along with her family members had spent about 3 years as forced bonded labours retained by landlord of Kunri in Umerkot region. She was grade 3-student at time when her family held imprisoned.

She belongs to the family of brave freedom fighter “Rooplo Kolhi”, who had rewarded a combat against attacking British colonialist militaries when they had attacked Sindh from Nagarparkar sideways in 1857.

She was married to Lalchand at the age of 16. She pursued her studies even after marriage and in 2013 finished masters in sociology from the Sindh University. She had linked with Pakistan People’s Party as social activist with her brother, who far along was designated as Chairman of Union Council Berano.

 Ama Gaon, Ama Vikas programme launched by - Odisha Government

Odisha Government has initiated ‘Ama Gaon, Ama Vikas’ programme to stretch out to people in rural areas and include themselves in developmental actions.

During this, CM Naveen Patnaik launched mobile video cars that will move around the state to highpoint various welfare plans at villages in the state. It will permit people to attach with the government.

Key Points

In this plan, people can straight send their complaints to CM’s Office at Secretariat in Bhubaneswar via Wi-Fi empowered latest technology video wall cars. This enterprise administration will assist people in resolving their complaints rapidly. In the 1st phase of plan, these vehicles will reach Koraput, Jajpur, Ganjam and Sambalpur districts of Odisha state.