09 August 2016 Current Affairs

PM Modi, Russian Prez Vladimir Putin jointly dedicated Kudankulam to the nation

Prime Minister Narendra Modi, Russian President Vladimir Putin and Tamil Nadu Chief Minister J Jayalalithaa jointly dedicated to the nation Unit 1 of Kudankulam Nuclear Power Plant through a video conference 10 August. It has been built with Russian expertise following a pact between the then Indian Prime Minister Rajiv Gandhi and Soviet leader Mikahil Gorbachev in November 1988. Now the first unit of Kudankulam power plant is generating its full capacity of 1000 megawatts of electricity.

Lok Sabha passes Employee’s Compensation (Amendment) Bill, 2016

“The Lok Sabha has unanimously passed the Employee’s Compensation (Amendment) Bill, 2016 to reduce litigation in cases of disputes arising over compensation to workers. The Bill seeks to amend the Employee’s Compensation Act, 1923. This law provides payment of compensation to employees and their dependents in the case of injury by industrial accidents, including occupational diseases.
Key Features of Bill:
1. Duty to inform employee of right to compensation.
2. Penalty for failure to inform.
3. Appeals from the Commissioner’s order.
4. Deletion of withholding payments pending appeal provision.”

Irom Sharmila ends 16-year-long fast

World’s longest hunger strike ended on 9 August when an emotional Irom Chanu Sharmila ended her 16-year-long fast against Armed Forces (Special Powers) Act, 1958 and was granted bail by an Imphal court on Rs.10,000 personal bond. However, She will be examined in court again on August 23. Irom had earlier announced that she will contest 2017 Manipur Assembly election.

China launches satellite to get accurate images of earth

China launched a new high-resolution Synthetic Aperture Radar (SAR) imaging satellite which provides accurate pictures of earth with ability to photograph detailed scenarios of its specific areas. The satellite was launched from the Taiyuan Satellite Launch Centre in northern Shanxi Province. The Gaofen-3 satellite was launched off on the back of a Long March 4C rocket at 6:55 am (local time), according to the centre. It was the 233rd flight mission by a Long March carrier rocket. As China’s first SAR imaging satellite that is accurate to one metre in distance, it covers the globe with an all-weather, 24-hour observation service and will be used for disaster warning, weather forecasting, water resource assessments, and the protection of maritime rights.

RBI : 3rd Bi-monthly Monetary Policy Statement 2016-17

Raghuram Rajan the governor of Reserve Bank of India has published the third bi-monthly monetary policy statement for the fiscal year 2016-17 and kept the rates unchanged. Mr. Rajan, whose term ends on September 4, maintained repurchase (repo) rate at 6.5 %, cash reserve ratio (CRR) at 4 %, Reverse Repo Rate – 6.00%, Marginal Standing Facility Rate (MSF)- 7.00%, Bank Rate- 7.00% , Statutory Liquidity Ratio (SLR)- 21%. While the Growth forecast at 7.6% for the current fiscal and Inflation target remains 5% for January 2017.

International Day of the World’s Indigenous Peoples observed on 9th August

The United Nations’ (UN) International Day of the World’s Indigenous People is observed on August 9 each year to promote and protect the rights of the world’s indigenous population. This event also recognizes the achievements and contributions that indigenous people make to improve world issues such as environmental protection. The theme for 2016 International Day of the World’s Indigenous Peoples is ‘Right to Education’. It was first pronounced by the General Assembly of the United Nations in December 1994, marking the day of the first meeting of the UN Working Group on Indigenous Populations of the Subcommission on the Promotion and Protection of Human Rights, in 1982.

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