Current Affairs 7th December 2017

Current Affairs 7th December 2017 - Important Points

• Union Health Ministry and Rotary India sign MoU for achieving immunization target on - 6th December 2017
• MoU signed for enhanced cooperation in health sector between India and - Cuba
• India successfully tests surface to air missile ‘AKASH’ on - 5th December 2017
• Charges on debit card transactions rationalised by - RBI
• Narendra Modi is most tweeted about world leader after Trump on - 5th December 2017
•  Indian, Italy sign new MoU for cooperation in Agriculture and Phytosanitary issues on - 6th December 2017
• RBI releases Fifth Bi-monthly Monetary Policy Statement 2017-18 on - 6th December 2017

Current Affairs 7th December 2017 - Details

Union Health Ministry and Rotary India sign MoU for achieving immunization target on - 6th December 2017

The Union Ministry of Health & Family Welfare and Rotary India on 6th December 2017 signed a MoU for intensive practices towards attaining the immunization target.
The MoU was signed by Vandana Gurnani, Joint Secretary and Deepak Kapur, Chairman of Rotary International India National Polio Plus.

Highlights of the MoU

• The MoU will supply support and speed-up the efforts under Polio Eradication Program, Routine Immunization including Mission Indradhanush and Intensified Mission Indradhanush.
• Both the sides will associated for social mobilization of beneficiaries, mainly in urban slums and in underserved areas having no mobilizes.
• The MoU will help aid the members of NCC, NYK and NSS in their efforts for community mobilization through incentives including refreshments and mementoes during the meetings.
• It will require private practitioners and local leaders for Polio Eradication Program, Regular Immunization like Mission Indradhanush, Intensified Mission Indradhanush and Measles-Rubella.

More about Rotary International India National PolioPlus Committee

• In 1988, the Rotary International formed a committee known as the India National PolioPlus Society for polio eradication efforts in the Nation.
• Located in Delhi, the Committee arranges large teams of committed Rotary volunteers who help in vaccine supply to infants and children and safeguard social mobilization around the cause.
• It serves in close collaboration with the Indian government, the WHO, the UNICEF and other organizations including the US Centres for Disease Control and Prevention.

 MoU signed for enhanced cooperation in health sector between India and - Cuba

The MoU is significant for interchanges in the health area and to develop institutional structure for cooperation in the health sector between the two Nations.
One potential recognized area of cooperation is pharmaceutical and biotechnology, as Cuba has made remarkable steps in both the fields.
Objective of the MoU

• The main objective of the MoU is to establish a complete inter-ministerial and inter-institutional cooperation between the two nations in the health sector.
• This is focused to be done by combining the technical, scientific, and financial and HR with the ultimate aim of upgrading the quality and reach of human, material and infrastructural schemes involved in health care, medical education and training and research in both Nations.
• A combine Working Group will be formed for the implementation of the MoU.

India successfully tests surface to air missile ‘AKASH’ on - 5th December 2017

India carried out successful test launch of land to air missile ‘AKASH’ with indigenous radio frequency seeker on 5th December 2017. The missile was targeted from Launch Complex-III at ITR Chandipur.
The radars, telemetry and electro-optical systems along with coast have tracked and monitored all the technical parameters of the missile. The missile would soon be initiated into the Indian army as Short Range Surface to Air Missile.

Significance-
This is the 1st Surface to Air Missile with indigenous seeker that has been tested.
With the achievement, India has attained the capability of manufacturing any type of Surface to Air Missile.

More about Akash Missile-

• It is a medium-range mobile surface-to-air missile defense system constructed by the Defense Research and Development Organization under Integrated Guided-Missile Development Program.
• It is multi target, all directional and all weather air-defense missile system including surveillance and tracking radars for defending vulnerable sectors against medium range air targets piercing from low, medium and high altitudes.
• The missile system can target aircraft up to 30 km away, at height up to 18,000 m.
• It has the ability to neutralize flying targets like fighter jets, cruise missiles and air-to-surface missiles along with ballistic missiles.
• The missile carries a 60 kg high-explosive, pre-fragmented warhead with a proximity fuse.
• The Akash system is fully mobile and proficient of protecting a moving convoy of vehicles.
• The launch platform has been integrated with both wheeled and tracked motor-vehicles.
• The system gives air defense missile coverage for an area of 2,000 km.

 Narendra Modi is most tweeted about world leader after Trump on - 5th December 2017

According to the figures published by Twitter on 5th December 2017, Prime Minister Narendra Modi has came out as the most tweeted about world leader after US President Donald Trump present year.
The social site explained that Modi with 37.5 million fans is the 2nd most tweeted about world leader, after Donald Trump who has 44.1 million fans.
Other world leaders in the top-10 list are Venezuelan President Nicolas Maduro, Turkish President Recep Tayyip Erdogan, Argentina's President Mauricio Macri, British Prime Minister Theresa May, French President Emmanuel Macro, Mexican President Enrique Pena Nieto, Colombian President Juan Manuel Santos and the President of Indonesia, Joko Widodo.
Among the most-liked tweets of 2017, the one that got the much likes belonged to earlier US President Barack Obama. Obama’s twitter account has approximately 97.6 million fans; making him the 3rd most followed human being on Twitter, after Justin Bieber and Katy Perry.
On the other side, not even a single tweet of Trump appeared as the top-10 of either most-retweeted posts or most-liked in 2017.

Charges on debit card transactions rationalised by - RBI

The RBI, In order to facilitate digital payments, came out with differentiated merchant discount rates for debit card spending, advising separate caps for small and big traders.
The shift is focused at giving a support to the digital payments in the nation, as the government is not finding any expected result in spite of giving a major thrust to digital transactions.
It is believed that introduction of differentiated MDR will aid increase the acceptance of debit card usage and it will also decrease the cost of transactions for small traders.

Highlights of RBI decision-

• As per the latest notification, MDR charges for small traders with a yearly turnover of up to Rs 20 lakh has been fixed at 0.40% with a cap of 200 rupees for each transaction by debit cards through Point of Sale machines or online payments.
• However, the charge will be 0.30% subject to a cap of 200 rupees for each transaction for receiving payments via QR code based payments.
• If the annual turnover of a merchant is more than Rs 20 lakh, 0.90% MDR charges would be applicable with a cap of Rs 1000 for each payment. And the charges will be 0.80 percent with a same cap if the transaction is through QR code.
• These directions will come into effect from January 1st 2018 onwards, and it would be the management of the banks to make sure the MDR imposed on the merchant does not go above the recommended cap.

Objectives of these guidelines-

According to the RBI, rationalization of the charges is being undertaken with a view to achieving the small objectives of boosting debit card acceptance by a whole set of merchants, especially small traders, and ensuring maintenance of the business for the entities involved.

 Indian, Italy sign new MoU for cooperation in Agriculture and Phytosanitary issues on - 6th December 2018

India and Italy signed a new MoU for collaboration in Agriculture and Phytosanitary matters on 6th December 2017. The agreement will replace the earlier signed MoU in 2017.
MoU was signed by Union Agriculture and Farmers Welfare Minister, Radha Mohan Singh and the visiting Italian Minister for Agriculture Food and Forestry Policies, H E Maurizio Martina.
Significance

• India and Italy enjoy traditionally friendly and cordial relationships.
• India connects great importance to the development of bilateral ties between the 2 Nations and focuses to further expand and strengthen ties between the 2 nations in various sectors including in the Agriculture area.
  Objective of the MoU
• The agreement basically focuses to provide a good structure for cooperation in the area of agriculture and phytosanitary matters.
• Few potential areas for cooperation are agriculture machinery, institutional linkages, precision farming, training, investment, cattle breeding and fisheries.

RBI releases Fifth Bi-monthly Monetary Policy Statement 2017-18 on - 6th December 2017

The RBI on 6th December 2017 delivered its 5th Bi-monthly Monetary Policy Statement 2017-18.
After assessing the present and evolving macroeconomic situation in the economy, the Monetary Policy Committee decided to place the Repo Rate under the Liquidity Adjustment Facility unchanged at 6.0%.
Accordingly, the Reverse Repo Rate was also retained unchanged at 5.75% and the Marginal Standing Facility Rate and the Bank Rate remained at 6.25%.
The Monetary Policy Committee elected in the ratio of 5:1 in favor of no rate alteration, with only Ravindra Dholakia favoring a 25 basis point cut in Repo Rate.
This is the 4th time in a row that Dholakia casted a dissenting vote. In August 2017, when MPC voted for a quarter points cut in the Repo Rate, Dholakia sought a depletion of 50 basis points.

Highlights of the Fifth Bi-monthly Monetary Policy Statement 2017-18

• MPC took note of the stress of food and fuel amounts on evolving cost of living conditions and inflation expectations while keeping the policy repo rate unaltered.
• MPC’s decision was also inhibited by recent developments such as rise in resource mobilization in the primary capital market and reforms that have caused to an improvement in India’s Ease of Doing Business position.
• RBI kept the extension projection that is Gross Value Added unaltered at 6.7% after recognizing significant developments such as GST and bank recapitalization package.
• RBI reviewed the Consumer Price Index inflation forecast by ten basis points, it now suppose retail inflation at 4.3-4.7% including central government house rent allowance-induced extension of up to 35 basis points.
• Growth in bank deposits also decreased from 11.8% in March end 2017 to 8.1% in November 2017.
  RBI also informed that the 'Recapitalization' or capital infusions declared recently by the government will be based strictly on merit; money will not be given to lenders unless they clean up their act.