17th August 2016 - Important Current Affairs updates

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International Affairs

Today is Independence Day of Indonesia
- On August 17, 1945, Indonesia declared its independence from Netherlands.
- About Indonesia
- - Capital : Jakarta
  - Official language : Indonesian
  - President : Joko Widodo
  - Vice-President : Jusuf Kalla
  - Currency : Indonesian rupiah
Today is Independence Day of Gabon (Gabonese Republic)
- Gabon, is a country on the west coast of Central Africa that had been under French rule till August 17, 1960.
- About Gabon :
- - Capital : Libreville
  - Official Language : French
  - President : Ali Bongo Ondimba
  - Prime Minister : Daniel Ona Ondo
  - Currency : Central African CFA franc
China and ten member countries of Association of Southeast Asian Nations (ASEAN) have agreed to form a framework for a code of conduct to ease tension in disputed South China Sea.
- Note : The agreement was reached between both sides during a meeting at Inner Mongolia in northern China held on August 15 and 16, 2016.
China joins the ranks of the world's 25 most-innovative economies in Global Innovation Index (GII).
- Top Countries in the list
- - Switzerland (retains the top position for the 6th consecutive year),
  - Sweden,
  - United Kingdom,
  - United States of America,
  - Finland
  - Ireland
  - Denmark
  - Netherlands
  - Germany

National Affairs

Gujarat government has today approved the implementation of the recommendations of 7th Pay Commission, raising salaries of over 8.5 lakh state employees and pensioners.
- The hike will cost 8,513 crore rupees annually to the exchequer
- About Gujarat :
- - Formed on : 1st May 1960
  - Capital : Gandhinagar
  - Largest City : Ahmedabad
  - Chief Minister : Vijay Rupani
  - Governor : Om Prakash Kohli
  - Official language : Gujarati

New Appointments
President Pranab Mukherjee has appointed former Union Minister Najma Heptulla (76) as Governor of Manipur.

Science & Technology

The Bhabha Atomic Research Centre (BARC) has developed a kit for onsite determination of toxic Hexavalent Chromium Cr (VI) in drinking water.
- The detection kit is simple, user friendly, quick and cost effective kit for onsite determination of Cr(VI) in drinking water.
- It meets Indian standard IS10500 for drinking water as well as US Environmental Protection Agency (EPA) criterion.

Business & Economy

The Reserve Bank of India (RBI) has imposed penalties of up to Rs 5 lakh on four cooperative banks for violation of various norms.
- They are,
- - The Cooperative City Bank, Guwahati (5 lakh) : for flouting KYC norms and non-adherence to requirements relating to identification and reporting of suspicious transactions.
  - Indapur Urban Cooperative Bank, Indapur District Pune (2 lakh) : for violations of norms related to KYC/anti-money laundering and credit exposure norms on loans.
  - Shri Dadasaheb Gajmal Cooperative Bank, Pachora, District Jalgaon (1 lakh) : for violation of norms relating to creation of floating charge on its assets without the prior permission.
  - The Model Cooperative Urban Bank, Hyderabad, Telangana (1 lakh) : for violation directives and guidelines on loans and advances to directors and their relatives.

Awards & Honors

Oscar winning music composer AR Rahman was today honoured with the Tamil Ratna Award by the New York based Tamil Sangam.
- He was honoured with this award after his concert at the United Nations General Assembly (UNGA) chamber to honour M.S. Subbulakshi, the doyen of Carnatic music.
- The previous recipients of Tamil Ratna Award include Bharatha Natyam exponent Kamala Lakshman, Tamil movie director Bharathi Raja and mathematician Srinivasa Varadhan.