CURRENT AFFAIRS DAILY UPDATES

CURRENT AFFAIRS DAILY UPDATES

Moody's Upgrades India's Sovereign Rating for First Time in 14 Years

i. International rating agency Moody's Investors Service has upgraded India's local and foreign currency issuer ratings to Baa2 from Baa3 and changed the outlook on the rating to stable from positive.

ii. Moody’s has revised the sovereign rating of India a notch above investment grade after a long gap of 14 years. Moody's has also upgraded India's local currency senior unsecured rating to Baa2 from Baa3 and its short-term local currency rating to P-2 from P-3.

2. NEA, CTGC Sign Joint Venture Pact to Construct West Seti Hydropower Project

i. Nepal Electricity Authority, NEA has signed a joint venture agreement with China Three Gorges Corporation (CTGC), a Chinese company to construct 750 MW West Seti Hydropower Project.

ii. The agreement was signed in Kathmandu by NEA Executive Director Kulman Ghising and representatives of China Three Gorges Corporation (CTGC).  The estimated cost of the project will be 1.8 billion US dollars.

iii. CTGC will have 75% stake in the joint venture and NEA will hold remaining 25%.

3. Venkaiah Naidu Inaugurates AP AgTech Summit-2017

i. Vice president M Venkaiah Naidu inaugurated a three-day AP AgTech Summit-2017 in the coastal city Visakhapatnam.
ii. This summit is organized by the Andhra Pradesh Government in association with Bill and Melinda Gates Foundation, Confederation of Indian Industry (CII) and Dahlberg Advisors.

4. Nagaland, First NE State to Launch POS for Paying Electricity Bills

i. Nagaland scripted history when it became the first State in the Northeast to launch Point of Sale (POS) facility for electricity bill payment, where the mode of payment will be cashless.

ii. The POS facility was launched at Kohima. The POS facility would now enable the consumers to pay their electricity bills as cashless transactions have been made available to them.

5. Two-day 12th North East Business Summit Inaugurated in New Delhi

i. The Two-day “12th North-East Business Summit” was inaugurated in New Delhi. The summit aims to explore the scope for business opportunities in the North-Eastern region of India. Focus areas are Infrastructure and Connectivity with Public-Private Partnerships, Skill Development, Financial Inclusion, etc.

ii. The Summit is being organized by the Indian Chamber of Commerce (ICC), with Manipur being the state partner for the event.

6. Moody's Upgrades NTPC, NHPC, NHAI & GAIL to Baa2

i. After upgrading India's sovereign rating to Baa2 stable from Baa3 positive, Moody's Investors Service has upgraded the ratings of infrastructure government-related issuers (GRIs) NTPC, NHPC, NHAI & GAIL to Baa2 in line with India's sovereign ratings.

ii. The upgrade in the ratings for these 4 companies follows the upgrade in sovereign rating from Baa3 to Baa2.

7. 4th Global Conference on Sustained Eradication of Child Labour Held in Argentina

i. Since 1997, countries around the world have shared knowledge on policies and good practices, and have committed to eliminate child labor in a series of global conferences held in Oslo (1997), The Hague (2010) and Brasilia (2013). 

ii. The IV Global Conference on the Sustained Eradication of Child Labour was organized by the Government of Argentina and was held in Buenos Aires.

8. President Launches Schemes Worth Rs 3,455 crore in Jharkhand

i. President Ram Nath Kovind launched various schemes entailing total expenditure of Rs 3,455 crore in Jharkhand to coincide with the state's 17th Foundation Day.

ii. Kovind launched the Rs 636-crore 'Mukhyamantri Health Insurance Scheme' under which 57 lakh of the 68 lakh families in the state will benefit.

iii. Kovind launched JOHAR (Jharkhand's Opportunities for Harnessing Rural Development) schemes entailing the expenditure of Rs 1,500 crore to help tribal and Dalit families double their incomes in four years.

9. RBI Governor Urjit Patel Appointed to Advisory Board of BIS

i. RBI Governor Urjit Patel was appointed to the Financial Stability Institute Advisory Board of the Bank of International Settlement (BIS). The Bank of International Settlement is a global financial organization owned by major central banks from across the world.

ii. The Financial Stability Institute (FSI) of the BIS assists financial sector authorities worldwide in strengthening their financial systems.

10. Kevin Lilliana of Indonesia Won Miss International 2017

i. Kevin Lilliana of Indonesia was crowned Miss International 2017 by Verzosa in Tokyo, beating 68 candidates from across the globe.

ii. Other awardees include-

1. First runner-up: Chanelle Wilhelmina Maria (Curacao),
2. Miss National Costume: Natsuki Tsutsui (Japan),
3. Miss International Asia: Nam Seung Woo (Korea).

11. France Named as Host of 2023 Rugby World Cup

i. France will host the 2023 Rugby World Cup to stage one of the world’s best attended and lucrative sporting events.

ii. The country beat strong bids by South Africa and Ireland, but the award represents a repudiation of the sport’s leadership which have transformed the quadrennial tournament into a multi-million-pound enterprise.

12. Legendary Hindi Poet Kunwar Narayan Passes Away

i. Eminent Hindi poet and Jnanpith awardee Kunwar Narayan passed away in New Delhi. He was 90.

ii. Born on 9 September 1927 in Uttar Pradesh's Faizabad, Kunwar Narayan was known for his poetry, stories, and critiques. His first poetry collection was "Chakravyuh".

iii.Kunwar Narayan was honored with Jnanpith Award in 2005 and Padma Bhushan in 2009.