Current Affairs: 27 March 2017

Published on Monday, March 27, 2017

Four startups from T-Hub bags global awards

  • Four startups from T-Hub, one of the largest start-up ecosystem builders in India, have bagged global awards
  • Hug Innovations, Loop Reality, AuthBase and Kheyti have received prestigious awards and recognitions in competitions held exclusively to identify emerging start-ups in the country
  • T-Hub, which has over 2,000 start-ups in its database, claims to be emerging as the first choice of top Indian startups.
  • Hug Innovations is the the maker of the gesture-control Hug Smartwatch capable of flying drones, navigating smart television, and controlling virtual reality-based applications through hand gestures.
  • Loop Reality is a disruptive technology firm, whose first product LoopFit is an immersive multiplayer VR fitness solution
  • AuthBase provides frameworks for developers to secure their applications and use Deep Learning to detect and mitigate hack and bot attacks real-time.
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Indian firms, MNCs get HYSEA awards

  • The 25th Annual Hyderabad Software Exporters Association (HYSEA) Awards brought IT multinationals, medium enterprises and startups of the city on one platform.
  • The day-long summit and awards was held on Thursday with the theme “Design Intelligence”.
  • Around 75 Startups exhibited their products or services at the event which was attended by more than 1000 people from the IT and ITeS industry.
  • Virinchi Technologies was awarded the Best Indian IT SME Company. Virtusa (India) and GE (India) Exports bagged the Best Indian IT Services Company in Rs. 100 to Rs.500 crore category and CA Technologies Pvt. Ltd in Best MNC IT Software Company category.
  • Microsoft got adjudged as the top MNC IT exporter and Google won the fastest growing IT company award. Infosys, Tech Mahindra and Tata Consultancy Services bagged top IT Exporters Award.
  • CSR Awards were presented to Honeywell Technology Solutions, Wells Fargo Enterprise Global Services and CPersistent Systems.

Paytm to become member of ASCI

  • Paytm set to become a member of the self-regulatory voluntary organisation Advertising Standards Council of India (ASCI)
  • The move is significant because advertising violations by e-commerce companies, which are big spenders on television, print and digital media, have been on the rise in recent years. 
  • ASCI members include key advertisers from various sectors, such as fast-moving consumer goods (FMCG), media, auto and telecom.
  • Paytm had stated in one of its advertisements in November, that it was offering a “flat 50 per cent cashback", which was found to be misleading because the cashback was limited to Rs 150 only. 
  • By opting to be a member, companies submit themselves to the ASCI Advertising Code, conveying the message that they wish to be responsible advertisers. Any violation, upheld by ASCI, puts the onus on the member to abide by the regulator’s decision.
  • This implies quick modifications to advertisements, which, if not done, could attract stringent action, especially in the case of television ads.


  • The name is an acronym for "Pay Through Mobile."
  • In 2015, Paytm became the first Indian company to receive funding from Chinese eCommerce company Alibaba
  • It was founded in 2010
  • Its founder is Basim Sharma and CEO is Vijay Shekhar Sharma 

Advertising Standards Council of India (ASCI)

  • Advertising Standards Council of India (ASCI) is a self-regulatory voluntary organization of the advertising industry in India. It is a non-Government body.
  • ASCI founded in 1985
  • The aim of ASCI is to maintain and enhance the public's confidence in advertising.
  • Its headquarter is located in Mumbai.
  • Its chairman is Narendra Ambwani.

CNBC-TV18's India Business Leader Awards to honour the best in Indian businesses

  • India’s most well-known business personalities congregated at CNBC-TV18’s India Business Leader Awards (IBLA) 2016-17 in New Delhi
  • The 12th edition of the awards felicitated visionary leaders who have made a stellar difference in their respective spheres, creating that much-desired edge above their peers. 
  • The business leaders who were felicitated at a IBLA’s awards ceremony are:
  • State Bank of India chairman Arundhati Bhattacharya: Outstanding Business Leader for the Year
  • Infosys’ managing director and CEO Vishal Sikka: CNBC Asia’s India Business Leader of the Year
  • Maruti Suzuki chairman RC Bhargava and former Reserve Bank of India governor Bimal Jalan: Hall of Fame
  • Indian gymnast Dipa Karmakar: Award for Outstanding Contribution to Brand India. 
  • IBLA winners are selected through a three-phase methodology conducted by the CNBC-TV18 editorial panel and research team, through a process based on a combination of criteria including financial performance, leadership, creativity, innovation and social responsibility.

Archaeologists Find World's Largest Capstone in Telangana

  • The archaeology department of Telangana has discovered the world's largest capstone after excavating an ancient human burial site in Siddipet district
  • The ancient human burial site excavated by Telangana Archaeology in Narmeta village in Nangunuru mandal has led to a stunning discovery of the world's largest capstone
  • The efforts to lift this massive capstone was coordinated by S S Rangacharyulu, archaeology consultant and K Padmanabha, assistant director (museums), as this mission required great precision and caution
  • A large crane lifted this huge capstone at the excavation site in Narmeta village on March 21, they said adding, "the capstone of the menhir burial reportedly weighs about 40 tonnes".

    Raghu Rai conferred with Lifetime Achievement award

    • Photojournalist Raghu Rai was conferred with a Lifetime Achievement Award by the information and broadcasting (I&B) ministry for “his remarkable contribution to the field.”
    • The ministry felicitated a total 13 photographers. Among the winners were K.K. Mustafah, Atul Choubey, Dipayan Bhar and Ravinder Kumar.
    • Best known for his book Raghu Rai’s India: Reflections in Colour and Reflections in Black and White
    • Rai has 18 titles in his kitty including Raghu Rai’s Delhi, The Sikhs and Calcutta. He has won acclaim for his series on Great Masters of Indian classical music, Satyajit Ray and Mother Teresa.
    • Rai was awarded Photographer of the Year award by the US in 1992.
    National Photography Awards
    National Photography Awards is an annual event organized by the ministry to “promote art, technique of photography and to encourage professional and amateur photographers from all corners of the country.”

    India's Motherson Sumi buys Finland's PKC Group for $619 million

    • Indian auto parts maker Motherson Sumi Systems Ltd (MSSL) had completed the buyout of Finland's PKC Group for 571 million euros ($619.4 million).
    • Motherson is now the controlling shareholder of PKC Group, holding 93.75 percent of PKC's outstanding shares and stock options.
    • There is a great synergy between MSSL & PKC and a complementary geographical presence to serve the customers in all regions
    • Shares of Motherson, which have gained 12 percent since the deal was made public on Jan. 20, were trading slightly higher.

    West Bengal beat Goa to lift record 32nd Santosh Trophy

    • West Bengal on Sunday lifted the Santosh Trophy for the 32nd time after Manvir Singh struck in the 119th minute for a 1-0 win over Goa, extending their domination in the premier domestic football tournament.
    • Goa, who had host the tournament thrice, lost to West Bengal in the semifinal in 1972 and the final in 1996, while winning against Kerala in 1990.ended a six-year wait having last won the title in 2011. Goa last won it in 2009.
    • The Santosh Trophy is an association football knock-out competition contested by the regional state associations and government institutions under the All India Football Federation (AIFF),
    • It was founded in 1941

      Business Standard Annual Awards: Celebrating excellence

      • The Business Standard Annual Awards for Corporate Excellence was held in Mumbai.
      • Eicher Motors Managing Director (MD) Siddhartha Lal won the CEO of the Year award. 
      • The Indian Space Research Organisation (ISRO) received the Innovative Organisation of the Year award for achieving significant milestones in 2016 in the domains of vehicle, satellite, applications and space exploration
      • Madhav Chavan, co-founder, Pratham Foundation, winner of the Social Enterprise of the Year award
      • Sanjit ‘Bunker’ Roy of Barefoot College won the Social Entrepreneur of the Year award

      Miami Open: Rafael Nadal wins in 1000th match

      • Rafael Nadal celebrated his 1,000th tour level match with a come-from-behind victory over German veteran Philipp Kohlschreiber to reach the fourth round of the Miami Open
      • He joins a small group of 11 players headed by Jimmy Connors (1,535) to have played at least 1,000 matches.
      • Rafael "Rafa" Nadal Parera is a Spanish professional tennis player. He is widely regarded as the greatest clay-court player in history.
      • Owing to his dominance and success on the surface, he has been titled "The King of Clay".
      • Nadal has won 14 Grand Slam singles titles, the 2008 Olympic gold medal in singles, 28 titles in ATP World Tour Masters 1000 events and 17 ATP World Tour 500 tournaments. 
      • He was also a member of the winning Spain Davis Cup team in 2004, 2008, 2009, and 2011. In 2010, he became the seventh player in history and youngest of four in the Open Era to achieve the Career Grand Slam at age 24. 

      ISRO sends 4 teams to Antarctica

      • The Indian Space Research Organisation (Isro) has joined the 36th scientific mission to Antarctica, organised by the National Centre for Antarctic and Ocean Research (NCAOR).
      • This year, four teams from ISRO—one team from Space Applications Centre, Ahmedabad and one team each from the National Remote Sensing Centre, Indian Institute of Remote Sensing, Dehradun and the Space Physics Laboratory(SPL), Thiruvananthapuram—are participating.
      • Climate change is the thrust area of the 36th Indian Scientific Expedition to Antarctica (36-ISEA). 
      • The main objective of this expedition is to install stakes on ice for Differential Global Positioning System (DGPS) measurements around Bharati and Maitri to validate glacier surface velocity derived from satellite data to estimate thickness of snow over land and sea ice using Ground Penetrating Radars (GPR's) and also to verify conditions of snow over sea and land ice

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