Daily Current Affairs- 28th October 2016

Dear Readers, we are presenting Daily Current Affairs for All Exams- 28th October 2016.

 Daily Current Affairs

1. Union Cabinet approves establishment of National Academic Depository
1. The Union Cabinet gave its green signal for establishment and operationalisation of a National Academic Depository (NAD).
The National Academic Depository aims at bringing another dimension and enhancement of the vision of Digital India.
2. The Budget Speech of 2016-17 of the Finance Benefit, Arun Jaitley, incorporated the commitment to establish a Digital Depository for school learning certificates, degrees and other academic awards of Higher Education Institutions, on the pattern of a Securities Depository.
Key highlights of the National Academic Depository
• The NAD will be established and operationalised within the next three months.
• It will be rolled out throughout the country in 2017-2018.
• It will be operationalised by NSDL Database Management Limited (NDML) and CDSL Ventures, Limited (CVL) - two of the wholly owned subsidiaries of the Depositories registered under Securities Exchange Board of India (SEBI) Act, 1992.

2. Nadia Murad and Lamiya Aji Bashar wins 2016 Sakharov Prize
1. Two Yazidi women, Nadia Murad Basee and Lamiya Aji Bashar, who escaped sexual enslavement by Islamic State of Iraq and Syria (ISIS) in Iraq, have won Europe's top human rights award, the Sakharov prize.
2. The announcement of the year's joint laureates was made following a decision by European Parliament on 27 October 2016.
The Sakharov award ceremony will be held in Strasbourg on 14 December.

3. Union Cabinet gives in-principle approval for strategic sale of over dozen PSUs
1. Union Cabinet gave its in-principle approval to NITI Aayog’s proposal for strategic sale of over a dozen public sector undertakings (PSUs).
2. Finance Minister Arun Jaitley said the names of PSUs that are up for strategic stake sale would be made public once they are going to be put up for the auction. This list does not include PSUs for closure. 
3. The recommendations of the NITI Aayog on disinvestment and strategic sale came up for consideration and the Cabinet in principle approved the recommendations with regard to some of the units.
4. Highlights of the Decision 
• Each case would be considered separately after it has been examined by the Department of Disinvestment and the Ministries concerned.
• The strategic sale will involve a management control transfer as the shareholding of the government would come down to below 50 per cent.

4. 28 October: National Ayurveda Day
1. The first National Ayurveda Day was observed on 28 October on the occasion of Dhanwantari Jayanti. The theme for this year is ‘Ayurveda for Prevention and Control of Diabetes‘. 
2. Ayurveda is the traditional Hindu system of medicine based on the idea of balance in bodily systems and uses diet, herbal treatment, and yogic breathing. It has been incorporated in Atharva Veda, the last of the four Vedas.

5. RBI allows startups to raise $3 million via ECBs annually
1. The Reserve Bank of India (RBI) has permitted startups to raise external commercial borrowings (ECBs) of up to $3 million in a financial year for three year tenure The new rules issued by RBI aims at boosting innovation and promoting job creation in the country. It will apply to startups looking to raise foreign borrowings and restrictions on such funds will be kept minimum.
2. Under the ECB route, borrowing of startups should be denominated in any freely convertible currency or in Indian Rupees (INR) or a combination thereof. In case of borrowing in INR, the non-resident lender, should mobilise INR through swaps/outright sale undertaken through bank in India. Under this, Funds can be raised with a minimum maturity of 3 years. There will no cost-ceiling or restriction on the end use of the funds raised.

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