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Current Affairs of 11 Jan 2018

Keshav Kishore, Published On:11-Jan-2018

 

 

1.       100% FDI for single brand retailing

• The Union Cabinet gave its approval to a proposal permitting 100% FDI under the automatic route for Single Brand Retail Trading (SBRT).   

• The government also eased ‘sourcing norms’ in SBRT by permitting companies to set off their incremental sourcing of goods from India for global operations in the initial five year starting from April 1, 2018.

• After the completion of five years SBRT companies would have to follow 30% sourcing norms directly towards its India’s operation, on an annual basis.

• The new norms will benefit consumers by providing more options and competitive pricing. It will also give a fillip to Make In India initiative as it will provide impetus to retail industry growth and will also bring more foreign investment.  

• Meanwhile, the government has also allowed 49% foreign ownership in Air India.

 

2.       Aadhaar data is secured by two-tier shield

• UIDAI has introduced Virtual IDs (VID) that Aadhar holders will be able to generate for a temporary period and can use in place of Aadhar numbers to validate their identity.

• This temporary number is just like OTP and will be valid for a particular time periods unless revoked and replaced by the Aadhar holder.  

• UIDAI has also brought in Limited KYC (Know Your Customer) and UID tokens, in an attempt to assuage privacy and security concerns about Aadhar numbers being used and stored by multiple public and private entities.

 • Virtual ID is a 16 digit temporary number, similar to an OTP can be used instead of Aadhar number. It can be generated, retrieved, revoked or replaced through UIDAI’s portal, mobile app, enrollment centers, etc.

 

3.       India’s first International medal in Skiing  

• The 21-year-old Aanchal Thakur got bronze medal at the Alpine Ejder 3200 Cup in Turkey, a tournament recognized by International Skiing Federation.  

• She has achieved this medal in the slalom race category.

• She is from Manali and was instructed and trained by her father Roshan Lal Thakur.

 

4.       Pratyush: India’s fastest supercomputer

• The supercomputer can deliver peak power of 6.8 petaflops.

• It is the fourth fastest supercomputer in the world dedicated to weather and climate research after Japan, USA and UK.

• Other prominent supercomputers of India are Param Yuva II and Aaditya.

• Sunway Taihulight (93.06 petaflop) of China is the fastest supercomputer of the world.

 

5.       Grand Stage for ASEAN at Republic Day

• India is planning a grand show for the 10 ASEAN leaders by arranging Ramayana festival, Ramayana stamps, Khadi Jackets and the Republic Day parade.

• Ramayana festival has a special connect with many of the ASEAN countries and this idea to showcase was given by Cambodian PM Hun Sen at the ASEAN-India Summit in Manila in November, 2017.

• Ten ASEAN leaders are guest at Republic Day of India.

• ASEAN countries are very prominent in India’s foreign policy and India is cementing her relation with these countries under ‘Act East Policy’.

 

 

 Source: The Hindu, The Indian Express

 

 

 






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