1) Quick Reaction Surface-to-Air Missile successfully test fired
•The indigenously developed Quick Reaction Surface-to-Air (QRSAM) short-range missile, which has a capability of engaging multiple targets was successfully test-fired from a test range along the Odisha coast.
•The missile has a strike range of 25 km to 30 km. Designed to be a quick reaction missile, it involves an all- weather weapon system capable of tracking and firing. The missile was test-fired from a truck-mounted canister launcher from launch complex-3 at the Integrated Test Range (ITR) at Chandipur, Odisha.
2) President legalises 'Kambala' buffalo races in Karnataka
•The President gave his assent to the bill passed by Karnataka Assembly to legalise traditional buffalo race 'Kambala'.In pursuance of the proviso to clause (1) of article 213 of the Constitution of India, the President of India hereby approves the promulgation of 'The Prevention of Cruelty to Animals (Karnataka Amendment) Ordinance, 2017' by the Governor of Karnataka.
•Bowing to public pressure, a bill to legalise traditional buffalo race 'Kambala' and bullock cart races in Karnataka was passed by the state Assembly in February with all parties backing the move. The Prevention of Cruelty to Animals Act, 1960, was amended in its application to Karnataka by the bill which was tabled after the clamour for Kambalagrew, spurred by the success of pro-jallikattu (taming of bull) stir in Tamil Nadu.
3) AFSPA in Nagaland extended for six months
•Entire Nagaland has been declared as “disturbed area” for six more months under the Armed Forces (Special Powers) Act (AFSPA), which empowers security forces to conduct operations anywhere without any prior notice. In a gazette notification, the home ministry stated it is of the opinion that the area comprising the whole of Nagaland is in such a “disturbed and dangerous condition” that the use of armed forces in aid of the civil power is necessary.
•Now, therefore, in exercise of the powers conferred by Section 3 of the Armed Forces (Special Powers) Act, 1958,the central government hereby declares that whole of the said state to be a ‘disturbed area’ for a period of six months with effect from 30th June 2017 for the purpose of that Act.
4) Achal Kumar Joti to be the next Chief Election Commissioner
•Achal Kumar Joti has been appointed as the next Chief Election Commissioner, the Law Ministry informed. Chief Election Commissioner Nasim Zaidi is demitting office later this week. Mr Joti, the former Chief Secretary of Gujarat, assumed the role of Election Commissioner in May 2015. Born on January 23, 1953, Mr Joti will have a tenure of less than 10 months as ECs demit office at the age of 65.
•Mr Joti is a 1975-batch Indian Administrative Service (IAS) officer who retired as Gujarat Chief Secretary in January 2013. He served in the top bureaucratic post of the State when Prime Minister Narendra Modi was Chief Minister. Mr Joti (62) has also served as the State Vigilance Commissioner and worked in various capacities in his cadre including as Chairman of the Kandla Port Trust between 1999 and 2004 and Managing Director of the Sardar Sarovar Narmada Nigam Ltd (SSNNL).
5) India scores well on FSB reform report card to G20
•The Financial Stability Board (FSB), an international body for the global financial system, has placed India in the league of countries that are 'compliant or largely compliant’ on the implementation of priority area reforms. Ahead of the G20 Summit in Germany to be attended by Prime Minister Narendra Modi, among other world leaders, the FSB has submitted its status report on progress in financial regulatory reforms in various jurisdictions, including India.
•The report listed India as a ‘compliant’ jurisdiction with regard to Basel III reforms in the risk-based capital and as ’largely compliant’ on liquidity coverage ratio. Other countries that have been found to be ‘compliant or largely compliant’ on these metrics include Argentina, Australia, Brazil, Canada, China, Hong Kong, Indonesia, Japan, Mexico, South Korea, Russia, Singapore, South Africa, Switzerland, Turkey and the US. At the same time, France, Germany, Italy, the Netherlands, Spain and the UK have been found to be ’materially non-compliant’ on at least one parameter.
6) Nandan Nilekani, Helion's Sanjeev Aggarwal launch $100-million fund Fundamentum
•Aadhaar architect Nandan Nilekani and Helion Venture’s Sanjeev Aggarwal have launched an investment fund called Fundamentum with a corpus of $100 million to back startups looking for growth capital.
•The corpus may be extended to $200 million if the fund sees more opportunities, the two founders said. The fund, which has so far closed $50 million, will see one-third of the corpus coming from Nilekani and Aggarwal. Fundamentum has already brought on board six entrepreneurs who will also invest in the fund.
