Daily Current Affairs

Prelims Prominence - August 12, 2017

Women Empowerment

‘SheMeansBusiness’

  • WHAT- Facebook and Odisha government has launched ‘SheMeansBusiness’ programme
  • WHY - to train women entrepreneurs in the state.
  • Launched in partnership between Odisha’s MSME (micro, small and medium enterprises) department and Project Mission Shakti.

Enlighten about ‘She Means Business’

  • Under this initiative, 25, 000 women entrepreneurs and self-help group (SHG) members from the state will be given training on digital marketing skills within by the end of 2018.
  • The growth of MSME would be monitored by Facebook in Odisha after imparting training to them in next one year.
  • It will also prepare a data base of the MSMEs through registrations in which they will take the email ids and mobile numbers of entrepreneurs in all the workshops
  • The programme has been launched in 16 countries around the world including India. It is designed to reach out to aspiring and established women entrepreneurs to help them build and grow their business online.

Economy

India’s first gold options contract

  • Securities and Exchange Board of India’s (SEBI) has approved the Commodity derivatives bourse Multi Commodity Exchange Ltd (MCX) to launch India’s first gold options contract.
  • The gold futures contract will have bi-monthly duration. The option will also have the existing gold kilo futures contract as its underlier.
  • The launch of gold options is one of the major reforms SEBI has taken for the commodity derivatives market.
  • Earlier in June 2017, SEBI had allowed options trading in commodities to deepen the market but permitted each exchange to launch options on futures of only one commodity initially.
  • SEBI is going to put strict eligibility criteria and options could be launched on futures contract of only those commodities that are among the top five in terms of total trading turnover value of previous 12 months.
  • It also has stipulated necessary guidelines with regard to the product design and risk management framework to be adopted for trading in options on commodity futures.

Enlighten about Multi Commodity Exchange Ltd (MCX)

  • The MCX is the country’s largest metals and energy commodity bourse.
  • It is country’s first listed commodity futures exchange that facilitates online trading, and clearing and settlement of commodity futures transactions, thereby providing a platform for risk management.
  • It began functioning in November 2003 and operates within the regulatory framework of the Forward Contracts Regulation Act, 1952 (FCRA, 1952).
  • It offers futures trading in bullion, ferrous and non-ferrous metals, energy, and a number of agricultural commodities (mentha oil, cardamom, potatoes, palm oil and others).

Days & Events

International Youth Day – 12 August

  • THEME - Youth Building Peace
  • FIRST OBSERVED – 12 August 2000
  • The International Youth Day is observed across the world on 12 August to draw attention to a given set of cultural and legal issues surrounding youth.
  • It aims at celebrating young people’s contributions in preventing conflicts and bringing about transformations along with social justice, inclusion and sustainable peace.
  • It also reaffirms the important role youth can play in deterring and resolving conflicts, and are key constituents in ensuring the success of both peacekeeping and peacebuilding effort
  • It was instituted by the United Nations General Assembly (UNGA) by passing resolution 54/120 in December 1999.
  • The day was instituted by UNHA on the recommendation made by the World Conference of Ministers Responsible for Youth held in Lisbon (Portugal) from 8 to 12 August 1998.

Appointments

13th Vice President of India- M Venkaiah Naidu

  • Former Union Minister M Venkaiah Naidu was sworn in as 13th Vice President of India.
  • He was administered the oath of office by President Ram Nath Kovind at a special function at Rashtrapati Bhavan.
  • After the swearing in he took charge as the Chairman of Rajya Sabha
  • He also chaired the proceedings of the Upper House.
  • He was elected as the Vice President after defeating opposition candidate Gopal Krishna Gandhi.

Enlighten about M Venkaiah Naidu

  • Muppavarapu Venkaiah Naidu was born on 1st July 1949 at Chavatapalem, in Nellore district of Andhra Pradesh.
  • He acquired his bachelor’s degree in law with specialisation in international law from Andhra University, Visakhapatnam.
  • He was elected as the president of the students union of colleges affiliated to his University and joined RSS and ABVP during his college days.
  • He came into spotlight for his prominent role in the Jai Andhra Movement and for his contribution in Jayaprakash Narayan Chhatra Sangharsh Samiti.
  • He has held several positions and carried his successful political career during his three decade long public life.
  • He has served as national president of BJP (2002 to 2004). In the Atal Bihari Vajpayee Government he was the Union Cabinet Minister for Rural Development.
  • In present Narendra Modi led government he had served as the Minister of Housing and Urban Affairs, Parliamentary Affairs and Information and Broadcasting.
  • Before getting elected as Vice President, he had held several positions and carried his successful political career during his three decades in public life.

Enlighten about office of Vice President

  • The officer of Vice-President is second highest public office in India.
  • It is second highest constitutional post of the country after President.
  • Office of Vice President has been created to provide political continuity of the Indian state.
  • His main function is in the form of ex-officio Chairman of Rajya Sabha.
  • He works as acting President when President is not available

International Relations

15th - Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) ministerial meeting - Kathmandu, Nepal.

  • The Prime Minister of Nepal Sher Bahadur Deuba inaugurated the two day meeet
  • Chaired by Deputy Prime Minister and Minister for Foreign Affairs Krishna Bahadur Mahara.
  • India was represented by External Affairs Minister Sushma Swaraj.
  • The meeting will review the progress and achievements in the identified areas of cooperation and discuss the ways to accelerate the partnership under the BIMSTEC process.
  • The key areas expected to be focused in the meeting are trade, investment, energy, transport, tourism, poverty alleviation and counter-terrorism.
  • The main agenda of this edition of the meeting is to finalise a free trade agreement among the BIMSTEC member countries. It will also include negotiations on market access for professionals and reducing the duty on trading goods.

Enlighten about BIMSTEC

  • The BIMSTEC is a sub-regional grouping comprising of seven countries of South Asia and South East Asia. It was established on 6 June 1997.
  • Estb. through the Bangkok Declaration.
  • It is headquartered at Dhaka, Bangladesh.
  • BIMSTEC mainly comprises of seven countries viz. Bangladesh, Bhutan, India, Nepal, Sri Lanka, Myanmar and Thailand lying in the littoral and adjacent areas of the Bay of Bengal.
  • Objective - technological and economical cooperation among south Asian and south East Asian countries along the coast of the Bay of Bengal. It also covers cooperation in commerce, technology, investment, agriculture, tourism, human resource development, fisheries, transport and communication