2nd November 2016 Events - Important Current Affairs

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Dear Great Ambitionists, here are today's (2nd November 2016) Important Current Affairs updates. Happy Reading :)

Current Affairs of 2nd November 2016

International Current Affairs

• President Pranab Mukherjee is on a Historic 3 Day Visit to Nepal. 
• This is the first presidential visit from India in 18 years to the Himalayan nation. 
• Nepal deployed over 5,000 security personnel in the capital Kathmandu for the visit. 
• Nepal's government has announced a public holiday in honour of the visiting Indian President.
• During this visit, Mr. Mukherjee had official discussion with Nepalese President Bidya
  
  Devi Bhandari in Kathmandu, on various bilateral, regional and international issues of significance between the two countries.

National Current Affairs

• The Centre has decided to give a 100% raise to the Members of Parliament, taking their basic pay from ₹50,000 to ₹1 lakh per month. 
• The government would also be revising their allowances. 
• Important Points to Note : 
• The recommendation was submitted to the Prime Minister's Office by the Joint Committee on Salaries and Allowances of MPs.
• This committee was headed by : Yogi Adityanath (BJP MP)
• Odisha government has launched Madhubabu Aain Sahayata Sibir (MASS) scheme to provide legal assistance to deprived sections of the society at the grassroots level. 
• Note : The scheme has been named after great Odia lawyer Madhu Babu, who is considered as the first lawyer of Odisha. 
• Indian films selected in any International Film Festival will now get financial assistance from the Centre for promotional activities. 
• The government has set up a film promotion fund under which the financial aid will be disbursed.
• The value of the aid will range from ₹7.5 lakh to ₹1 crore, depending upon the film festival's stature.

Science & Technology

• China today unveiled its J-20 stealth fighter jets at 'Airshow China', the country's biggest expo of plane makers and buyers. 
• The radar-evading jets which did a 60-second flypast are reportedly seen as "a big step forward in Chinese combat capability". 
• China also put up the AG600, the largest amphibious plane in production, on display
• The China Railway Rolling Stock Corporation (CRRC) has announced plans to build the world's fastest commercial train with a top speed of 600 kmph using magnetic levitation technology. 
• Shanghai Maglev, the fastest train currently operational, can travel at 430 kmph. 
• Note : Japan recently tested a train faster than 600 kmph but it will not be ready for commercial use until 2027.

New Appointments

• South Korean President Park Geun Hye,  replaced the Prime Minister and Finance Minister amid a scandal engulfing her, threatening to bring down her administration.
• Kim Byong-joon, a senior presidential secretary during a previous administration, was named as the new Prime Minister, replacing Hwang Kyo-ahn.
• Yim Jong-yong, currently the Financial Services Commission chairman, is the new Finance Minister as well as deputy Prime Minister. 
• He will replace the incumbent minister Yoo Il-ho.
• Crown Prince of Thailand Maha Vajiralongkorn is to be confirmed as the new King on 1st December 2016.

Business & Economic Affairs

• The Benami Transactions (Prohibition) Amendment Act, 2016, designed to curb black money and passed by parliament in August 2016, came into effect. 
• The new law amended the Benami Transactions Act, 1988 and renamed as the Prohibition of Benami Property Transactions (PBPT) Act, 1988. 
• The amendment act also to strengthen the parent Act in terms of legal and administrative procedure.
• Capital market regulator SEBI today tightened disclosure norms for Indian credit rating agencies in a bid to boost transparency and accountability. 
• Rating agencies will now be required to publicly provide details of the criteria and process behind rating changes and review each criteria periodically.
• The new guidelines need to be implemented within the next 60 days.
• The Telecom Regulatory Authority of India (TRAI) doubled the minimum broadband speed and fixed it to 512 kbps from the previously mandated 256 kbps speed. 
• Internet service providers will have to ensure that the speed of broadband connections does not go below 512 kbps in any circumstance.
• Note : The government earlier wanted 2 mbps as the minimum broadband speed.

Deaths

• American author Natalie Babbitt, who wrote the children’s novel Tuck Everlasting passed away.
• An award-winning author and illustrator, Babbitt was best known for Tuck Everlasting, which sold 35 lakh copies and was adapted into two movies and a Broadway play. 

Sports

• Hockey India has renewed men's team coach Roelant Oltmans' contract till 2020 after he led the team to victory in the Asian Champions Trophy final in which India defeated arch-rivals Pakistan. 
• Oltmans, whose contract was set to expire in 2017, said that the extension provides a perfect opportunity to make India a regular contender for medals at the global stage.

This is the end of today's Current Affairs session friends. Good Day :)

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