1) GII Rankings: India 60th most innovative globally, Switzerland tops the list
•India continued to rise in the Global Innovation Index (GII) rankings for the second year in succession, after four consecutive years of decline. In 2017 rankings released in Geneva (Switzerland), India improved its position from 66 to 60.
•Its improvement is part of a trend both in the middle-income countries and Asian countries, many of which have improved their innovation capacities in recent years. The GII was first developed 10 years ago by the business school INSEAD in Paris.
•Top three most innovative countries in the list are-
1.Switzerland
2.Sweden
3.Netherlands
•Ranking of Neighbouring countries of India-
1.China (22nd)
2.Sri Lanka (90th)
3.Nepal (109th)
4.Pakistan (113th)
5.Bangladesh (114th)
2) Centre launches IDCF to reduce child deaths due to diarrhoea
•The Ministry of Health and Family Welfare has launched the Intensified Diarrhea Control Fortnight (IDCF) in order to intensify efforts to reduce child deaths due to diarrhoea. The Ministry has made it a national priority to bring health outcomes among children to a level equitable with the rest of the world.
•Through this initiative, the Ministry will mobilize health personnel, State Governments and other stakeholders to prioritize investment in control of diarrhea, one of the most common childhood illnesses. It aims to create mass awareness about the most effective and low-cost diarrhoea treatment, a combination of Oral Rehydration Salt (ORS) solution and Zinc tablets. Nearly 12 crores under 5-children will be covered during the program across the country.
3) Neeru Chadha elected as first Indian woman Member of ITLOS
•Indian nominee Neeru Chadha became the first Indian Woman to be elected as the Member of International Tribunal for the Law of the Sea (ITLOS). Chadha, the international law expert, got 120 votes with the highest in the Asia-Pacific group.
•She will have a nine-year term as the Judge at ITLOS from 2017 to 2026. Currently, an eminent jurist from India P Chandrasekhara Rao is a judge at the tribunal. He was elected as the member of the tribunal in 1996 and his term will expire in September 2017.
4) Israeli author David Grossman wins Man Booker International prize 2017
•Israeli author David Grossman has won the Man Booker International Prize 2017 for his novel `A Horse Walks Into a Bar'. Grossman beat out five other finalists, including fellow Israeli author Amos Oz for the counterpart to Britain's prestigious Booker Prize.
•Grossman's novel is about a failing standup comic and his final performance. The award has a prize of 50,000 pounds ($64,000) that is split evenly between Grossman and translator Jessica Cohen.
5) Asian Infrastructure Investment Bank grants USD 150 mn loan for India Infrastructure Fund
•China-led Asian Infrastructure Investment Bank has approved USD 150 million equity investment loan to the India Infrastructure Fund. It is the bank's first such loan to fund private projects.
•The Board of Directors of the AIIB, who met in Jeju in South Korea has approved USD 150 million equity investment to the India Infrastructure Fund. The bank, in which India is a lead partner, has approved two loans and one equity investment totalling USD 324 million to support infrastructure projects in India, Georgia and Tajikistan.
•This initiative will benefit local infrastructure development by enhancing private capital inflows from global long-term investors, such as public pension funds, endowments and insurance companies.
6) RBI places restrictions on banking activities of Central Bank of India
•The Reserve Bank of India (RBI) has placed Central Bank of India under prompt corrective action (PCA) which puts restricts on banking activities such as from lending, hiring and expanding branches.
•According to the RBI, the PCA has been triggered in view of negative return on assets and high ratio of bad loans. So far, RBI has triggered PCAs for four banks – IDBI Bank, UCO Bank, Dena Bank and Indian Overseas Bank. The PCA was initiated on Central Bank of India since it reported losses for two consecutive years, had negative return on assets and its share of bad loans has crossed 6%. Central Bank has reported loss of Rs 2439 crore for fiscal year 2016-17.
