Daily Current Affairs 9th May, 2017

Daily Current Affairs 9th May, 2017


South Korea Election: Moon Jae-in elected as President

  • Moon Jae-in has been declared winner in South Korea’s presidential election by that country’s National Election Commission.
  • Moon, the Democratic Party’s candidate has won with 41.08{be19e8fcc7081f751eba9e03bd22e904e5cf3e86733381e655a03b1ab7839769} of votes.
  • Moon will replace the ousted President Park Geun-hye, who was ejected from office in March after a corruption scandal for which she’s awaiting trial. Moon narrowly lost to Park in 2012 election.
  • Park was South Korea’s first female President who has been impeached in a corruption scandal.


Supreme Court Sentences Justice Karnan to 6 Months

  • A seven-judge Constitution bench of the Supreme Court headed by Chief Justice J S Khehar has sentenced the Calcutta High Court judge, Justice C S Karnan to six months of imprisonment for repeated incidents of contempt of court.
  • This is the first time that the Supreme Court has sent a high court judge to jail on charges of contempt. Further, the bench also comprising Justices Dipak Misra, J Chelameswar, Ranjan Gogoi, M B Lokur, P C Ghose and Kurian Joseph has prohibited media, both print and electronic from publishing any further orders if any passed by Justice Karnan.
  • The Supreme Court bench headed by chief justice of India J.S. Khehar in February issued a contempt notice to Justice C S Karnan who had accused several judges of corruption, nepotism and casteism.
  • On 1 March, the Supreme Court had ordered the Calcutta government hospital to constitute a medical board to examine the medical condition of Justice Karnan and submit a report to the court.
  • However, Justice Karnan refused to undergo medical tests in compliance with courts’ orders. Instead, he sentenced eight judges of the Supreme Court to five years of “rigorous imprisonment” and imposed a fine of Rs1,00,000 each under the Scheduled Castes and the Scheduled Tribes (Prevention of Atrocities) Act of 1989 and the amended Act of 2015


IMF: India will Grow at 7.7{be19e8fcc7081f751eba9e03bd22e904e5cf3e86733381e655a03b1ab7839769} in 2018-19

  • The International Monetary Fund in its regional economic outlook has predicted the growth rate of India as 7.2{be19e8fcc7081f751eba9e03bd22e904e5cf3e86733381e655a03b1ab7839769} in the 2017-18 fiscal and 7.7{be19e8fcc7081f751eba9e03bd22e904e5cf3e86733381e655a03b1ab7839769} in 2018-19 fiscal.
  • The report has stated that the disruptions caused by the demonetisation would be offset by a favorable monsoon and continued progress in resolving supply-side bottlenecks.
  • However, it has predicted the investment recovery to remain modest and uneven across sectors.
  • Though weaknesses in bank and corporate balance sheets is likely to affect the near term credit growth, the report cites confidence and policy credibility gains and continued fiscal consolidation and anti-inflationary monetary policy to be the factors that underpin macroeconomic stability.
  • According to the report, IMF has recommended the removal of long-standing structural bottlenecks to enhance market efficiency. T
  • he report has revised the growth downward in India due to effects from the currency exchange initiative and in South Korea due to political uncertainty.
  • According to the report, improving agricultural productivity in the labour-intensive agricultural sector remains a key challenge. It has said that much more needs to be done to address structural bottlenecks and improve market efficiency
  • Liberalising commodity markets as per the report will help in infusing more flexibility in the distribution and marketing of farm produce and will enhance the competitiveness, efficiency, and transparency in state agriculture markets.
  • IMF has said that input subsidies to farmers should be administered through direct cash transfers as underpricing of agricultural inputs would have large negative impacts on agricultural output.

DIPP & WIPO to set up Technology and Innovation Support Centers

  • The Department of Industrial Policy and Promotion (DIPP) and World Intellectual Property Organization (WIPO) have signed an agreement to establish Technology and Innovation Support Centers (TISC).
  • These centres will be set up under WIPO’s Technology and Innovation Support Centers (TISC) program. The programme provides innovators in developing countries with access to locally based, high quality technology information and related services, helping them to exploit their innovative potential and to create, protect, and manage their intellectual property (IP) rights
  • Access to online patent and non-patent (scientific and technical) resources and IP-related publications.
  • Assistance in searching and retrieving technology information.
  • Training in database search.
  • On-demand searches (novelty, state-of-the-art and infringement).
  • Monitoring technology and competitors.
  • Basic information on industrial property laws, management and strategy, and technology commercialization and marketing.

About WIPO:

  • The World Intellectual Property Organization (WIPO) is one of the 17 specialized agencies of the United Nations.
  • It was created in 1967 “to encourage creative activity, to promote the protection of intellectual property throughout the world.”
  • It has currently 188 member states, administers 26 international treaties, and is headquartered in Geneva, Switzerland.
  • Non-members are the states of Marshall Islands, Federated States of Micronesia, Nauru, Palau, Solomon Islands, South Sudan and Timor-Leste. Palestine has observer status.
  • India is a member of WIPO and party to several treaties administered by WIPO.

Techmagnate acquires BlogX, the largest blog conference in India

  • Techmagnate, India’s leading Digital Marketing Agency acquired BlogX, India’s largest blog conference where bloggers and content managers connect.
  • In the event, top bloggers from across the country share their experiences and stories of journey towards becoming successful bloggers. The blogger’s meet emphasizes on content, relationship and brand building

Ola ties-up with Airtel to roll out integrated digital offerings to customers

  • India’s largest cab aggregator Ola has partnered with Bharti Airtel to launch a range of integrated digital offerings to customers.
  • As part of the partnership, Ola will integrate Airtel Payments bank to its app and Airtel will integrate Ola’s mobile wallet Ola Money as a payment solution on Airtel website and MyAirtel app for mobile recharges and bill payments.

Oracle signs MoU with Jharkhand for cloud-based citizen services

  • The Government of Jharkhand and Oracle signed a Memorandum of Understanding (MoU) intended to improve cloud-based citizen services and to make Jharkhand an attractive destination for start-ups.
  • Oracle will offer its support to the state through its vast portfolio of technology solutions, including Oracle Cloud.
  • As part of the MoU, the Government of Jharkhand and Oracle will jointly explore and identify areas in which Oracle’s latest cloud-based technologies can be used to deliver improved citizen services and to address the state’s citizen and business requirements.


Doctrine of “SAMADHAN’ for use in security operations

  • The Home Minister has enunciated an operational strategy ‘SAMADHAN’ to fight Left Wing Extremism.

The elements of this strategy are:

  • S for Smart Leadership.
  • A for Aggressive Strategy.
  • M for Motivation and Training.
  • A for Actionable Intelligence.
  • D for Dashboard-based Key Result Areas and Key Performance Indicators.
  • H for Harnessing Technology.
  • A for Action Plan for Each Theatre.
  • N for No access to Financing.

Significance of this strategy:

  • Alongside aggressive operations, road construction works, setting up of telecommunication, power and railway facilities in the remote areas will be expedited. The home minister has also stressed for befitting strategies during the security operations and enhanced intelligence in tackling the Maoists.
  • Economic resources play an important role in any war — only when money is available is it possible to buy, eat, drink and possess ammunition and weapons. Therefore, choking the financial resources of the left wing extremists is the most basic mantra in this fight.

India- Indonesia Co-Ordinated Patrol Commences

  • The 29th India–Indonesia CORPAT has commenced at Port Blair under the aegis of Andaman and Nicobar Command.
  • The bilateral exercise is scheduled to be held from 9th to 25th May.
  • The Indonesian Naval Ship KRI Sutedi Senoputra has arrived to take part in the 29th series of IND–INDO CORPAT.
  • An Indonesian Maritime Patrol Aircraft has also arrived with the Indonesian Naval delegation. Defence relations between India and Indonesia are growing steadily with regular joint activities and interactions between the Armed Forces of the two countries.


Chinnar wildlife sanctuary:

  • An ambitious project of the Kerala Forest Department at the Chinnar Wildlife Sanctuary (CWS) to rehabilitate Indian star tortoises (Geochelone elegans) seized from smugglers has turned into a major success. This makes the CWS the only rehabilitation centre for star tortoises in the country.
  • The CWS is the only place in Kerala where star tortoises are known to occur in the wild. The sanctuary is now a haven for at least 450 such tortoises seized from poachers in less than two years.
  • Indian star tortoises are considered auspicious for gaining wealth. It is the reason why Indian star tortoises, which are protected under the Wildlife Act, are poached and smuggled. It is classified as vulnerable by the IUCN.


Indian American Nominated for Key Post in FERC

  • US President Donald Trump has nominated Indian-American Neil Chatterjee as a Member of Federal Energy Regulatory Commission (FERC).
  • FERC is an agency responsible for overseeing America’s power grid and deciding on multibillion-dollar energy projects. His term will expire on June 30, 2021. US Senate has to confirm Chatterjee before he can be sworn in as member of Federal Energy Regulatory Commission.


Jhulan Goswami named Highest Wicket-Taker in Women’s One-Day Internationals

  • Jhulan Goswami has become the highest wicket-taker in one-day internationals. Goswami has so far taken 181 wickets in 153 matches.
  • She has broken the world record held by Australia fast bowler Cathryn Fitzpatrick who has taken 180 wickets during India’s ongoing match against South Africa in the Women’s Quadrangular Series in Potchefstroom.
  • She achieved this feat with the wicket of No.11 batsman Raisibe Ntozakhe of South Africa.









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