Current Affairs – January, 2014

Latest Current Affairs January, 2014 with Current Affairs, news summary on current events of National and International importance of January, 2014 for Banking, SSC, CLAT, UPSC, State PCS, IBPS, Railways and other Competitive Examinations.

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Mahatma Gandhi’s grand daughter Ela Gandhi honored with prestigious South African Award ‘Amadelakupha’

Screenshot_4Mahatma Gandhi’s grand daughter, Ms. Ela Gandhi honored with the Prestigious South African Award, ‘Amadelakupha’ by the South African Government. This award was also given to Sunny Singh and Mac Maharaj of Indian Decent. The South African Government stated that Ms. Gandhi selected for the award in recognition for her lifetime contribution to the freedom struggle in South Africa.

She formed the trio of Indian-origin South Africans along with Sunny Singh and Mac Maharaj. These three played an active role in the Umkhonto we Sizwe (Spear of the Nation). The Umkhonto we Sizwe was the armed struggle wing of the African National Congress (ANC).
Former Umkhonto we Sizwe members were incorporated into the South African defence force after the advent of democracy in 1994 following the release of Nelson Mandela to become the first democratically-elected president. Mr. Mandela was the first democratically-elected president of South Africa.

About Ms. Ela Gandhi
  • Born: July 1, 1940 in Durban, South Africa.
  • Peace activist and was a Member of Parliament in South Africa from 1994-2004
  • Awards: Community of Christ International Peace Award, Padma Bhushan award(2007), Pravasi Bhartiya Award (2014) and Umkhonto we Sizwe.
  • Developed a 24-hour program against domestic violence, founded the Gandhi Development Trust.
  • Chaired the Mahatma Gandhi Salt March Committee and the Mahatma Gandhi Development Trust.
  • And also served as the Chancellor of Durban University of Technology for many years.

Note: The award title, ‘Amadelakufa’ means ‘those who are prepared to make sacrifices’ in Zulu language and was hosted by the South African military.

Govt. launched “India Inclusive Innovation Fund (I.I.I.F.)”

The National Innovation Council (NIC), in partnership with the Ministry of Micro, Small and Medium Enterprises (MSME), launched the India Inclusive Innovation Fund (IIIF). IIIF is an impact investment fund that will invest in ventures catering to the country’s poor. It is an autonomous Rs. 500-crore fund, with the Union Government contributing 20 %. The balance will come from public sector banks, financial institutions, insurance companies, multilateral/bilateral development agencies, Indian & global corporates.

About India Inclusive Innovation Fund (I.I.I.F.)
  • Objective: To expand the corpus to Rs 5,000 crores over the next 24 months and to provide modest financial returns, while ensuring significant social impact to the community.
  • Focus on: healthcare, food and nutrition, agriculture, education, energy, financial inclusion, environment, technology as an enable.
  • Will be registered under SEBI’s Alternative Investment Fund Category I guidelines with an initial corpus of Rs 500 crore, with the Ministry of MSME committing to 20% (Rs 100 crore) and the balance being given by banks, insurance companies, overseas financial and development institutions.
  • Help to create a new class of capital or venture capital to set up and scale entrepreneurial skills and innovation in the firms delivering goods and service to the poorest of the country.
  • Combined innovation and the dynamism of enterprise to solve the problems of citizens at the base of the economic pyramid in India.
  • The Fund will invest in innovative ventures that are scalable, sustainable and profitable.
  • It will address social needs of less privileged citizens in areas viz. healthcare, food, nutrition, agriculture, education / skill development, energy, financial inclusion, water, sanitation, employment generation, etc.