Current Affairs Update – 30th–31st August, 2015

Hello and welcome to ExamPundit. Here are the Important Current Affairs of 30th and 31st August, 2015. We have also started including Daily GK Bits to keep you updated!! These are important for the upcoming IBPS Clerk Exam.

Finance/Banking –

SBI, ICICI Bank receive domestic systemically important banks' status

  • State Bank of India (SBI) and ICICI Bank have been given the status of domestic systemically important banks (D-SIBs) by the Reserve Bank of India (RBI) on Monday.
  • RBI had announced the framework for dealing with D-SIBs in July 2014 and the framework requires RBI to disclose the names of banks designated as domestic systemically important every year in August starting from August 2015.
  • Based on the bucket in which a D-SIB is placed, an additional common equity requirement has to be applied to it, as per the framework. The framework also requires that D-SIBs may be placed in four buckets depending upon their Systemic Importance Scores (SISs).
  • The D-SIB framework specifies a two-step process of identification of D-SIBs. In the first step, the sample of banks to be assessed for systemic importance has to be decided. The selection of banks in the sample for computation of SIS is based on analysis of their size as a percentage of annual GDP.

Indian Bank launches 'IndPay'

  • With an eye on people on the move, public lender Indian Bank has launched IndPay, a mobile application service that enables its customers to operate bank account from anywhere, anytime.
  • IndPay can be operated through smartphones compatible with Android, Windows and iOS mobile operating systems.
  • Customers can do transactions like enquiries, getting mini statements and transferring funds to any account, the Chennai-based bank said in a statement.
  • Indian Bank MD and CEO M K Jain formally unveiled the new service recently, it said.

Economic Growth Slows to 7% in April-June Quarter

  • Reflecting a muted performance, the GDP growth slowed to 7 per cent in the April-June quarter, from 7.5 per cent in the previous quarter, amid deceleration in farm, services and manufacturing sectors.
  • A slower GDP growth, along with slower pace of industrial production expansion, however bolsters the case for a rate cut by the Reserve Bank.
  • The Gross Value Added (GVA), a new concept introduced by CSO to measure the economic activity, also slipped during the first quarter to 7.1 per cent, from 7.4 per cent a year ago.
  • The GDP grew at 7.5 per cent in the January-March quarter while it was 6.7 per cent in the April-June quarter last year, according to data from the Central Statistics Office (CSO).
  • The nominal GDP and GVA at current market price showed a steep decline in the quarter under review. The nominal GDP slipped to 8.8 per cent in Q1 from 13.4 per cent a year ago while the GVA growth rate nearly halved to 7.1 per cent from 14 per cent a year ago.

Govt. to infuse Rs 947 crore in Canara Bank

  • Public lender Canara Bank on Monday said the government will infuse an equity capital of Rs 947 crore in the bank.
  • It said the board of the bank at a meeting held on Monday approved the proposal of issuing equity shares on preferential basis to the government in lieu of the capital infusion.
  • Last week, the country’s largest lender SBI also spoke of issuance of equity shares on a preferential basis to the government for a capital infusion of Rs 5,393 crore.
  • Earlier this month, the government decided to infuse a total of Rs 20,088 crore in 13 public sector banks, including SBI, PNB, IDBI, Bank of Baroda, Canara Bank, Indian Overseas Bank and Union Bank of India.

Aurobindo Pharma gets USFDA nod for osteoporosis drug

  • Aurobindo Pharma Ltd. has received approval from the U.S. Food and Drug Administration (USFDA) to manufacture and market Raloxifene Hydrochloride tablets USP 60mg.
  • Announcing this on Saturday, the company said the drug was indicated for treatment and prevention of osteoporosis in postmenopausal women. Its estimated market size was $404 million for the twelve months ended June 2015.
  • The approved abbreviated new drug application (ANDA) is bioequivalent and therapeutically equivalent to the reference listed drug product Evista tablets 60mg of Eli Lilly. It is 45 ANDA to be approved out of Unit-VII formulation facility in Hyderabad for manufacturing oral non-antibiotic products, a company release said.

ONGC, partners to invest $24 bn in Mozambique gas field

  • Oil and Natural Gas Corp (ONGC) and its partners will invest about USD 24 billion in producing natural gas from a giant field off Mozambique and converting it into liquid fuel (LNG) for export by ships to consumers like India.
  • ONGC Videsh Ltd, the overseas investment arm of the state-run explorer, holds 16 per cent stake in Rovuma Area 1 where recoverable resources in excess of 75 trillion cubic feet have been established.
  • BPCL holds another 10 per cent and Oil India Ltd 4 per cent stake in the field and all three together hold more stake than operator Anadarko of the US (26.5 per cent).

India –

Amul to launch India's first branded lactose-free milk

  • Allergic to dairy products? Now, start your day with a glass of lactose-free milk from Amul. India's largest dairy cooperative Gujarat Cooperative Milk Marketing Federation (GCMMF) is all set to launch India's first branded lactose-free milk in a month.
  • Basically, anyone with lactose intolerance has difficulty in digesting milk sugars (lactose) from dairy products, due to insufficient amounts of lactase enzyme in the gut.
  • One of the most common cases of food intolerance among consumers is lactose intolerance.

Union Government launched SAHAJ scheme for online release of new LPG connections

  • Union Government on 30 August 2015 launched a scheme named SAHAJ for online release of new LPG connections for the consumers. The scheme launched by Petroleum and Natural Gas Minister Dharmendra Pradhan can be availed through the portal
  • At present, the scheme will be available in 13 cities of the country, namely Delhi, Ahmedabad, Bengaluru, Bhopal, Bhubaneshwar, Chandigarh, Chennai, Hyderabad, Kolkata, Lucknow, Mumbai, Patna and Pune. It will be launched pan-India within the next few days.
  • SAHAJ facility will enable the prospective customers to post online request for a new connection by filing Know Your Customer (KYC) form, uploading photographs and bank account details. After submission, the customer will receive the registration number to know the connection status.
  • It also provides the facility to choose the mode of payment, which may be online or offline mode of payment for connection. Electronic subscription voucher will be mailed to the customer and physical delivery of the Gas cylinder, regulator with hose pipe will be made by the distributor.

PM Modi released digitally restored recordings of epic ‘Ramcharitmanas’

  • Prime Minister Narendra Modi on 31 August 2015 released digital recordings of epic Ramcharitmanas, as a set of digital CDs produced by All India Radio (AIR).
  • Digital recordings of the epic is a part of AIR’s attempt to go digital in a big way so that the public broadcaster can reach audiences globally.
  • The recordings of Goswami Tulsidas work, sung by leading singers of Bhopal gharana, have been done by the AIR over several years and are regularly broadcast especially in the Hindi heartland.

Appointments –

Rajiv Mehrishi appointed as Union Home secretary

  • Rajiv Mehrishi, 1978 batch IAS of Rajasthan cadre, was appointed as the Union Home secretary. He will occupy the post for two years with effect from 31 August 2015. He was due to retire on the day of appointment, but was given an extension of two-year.
  • He succeeded LC Goyal, an IAS officer of 1979 batch of Kerala cadre.
  • At the time of appointment as the Home Secretary, Mehrishi was holding the post of Finance Secretary. He is the third Home Secretary of the present NDA government led by Prime Minister Narendra Modi.

Outgoing Home Secretary L.C. Goyal Appointed as CMD of ITPO

  • The government today appointed outgoing Home Secretary L C Goyal as the Chairman and Managing Director of India Trade Promotion Organisation (ITPO).
  • "The Prime Minister has approved the appointment of L C Goyal (1979 batch Karnataka cadre IAS officer) as Chairman and Managing Director, India Trade Promotion Organisation," an official statement said.
  • Earlier, Goyal had sought an early retirement, 17 months ahead of schedule, for personal reasons which was approved by the government.
  • He was replaced by Economic Affairs Secretary Rajiv Mehrishi in the Home Ministry.
  • Set up in 1977, ITPO is the nodal trade promotion agency of the government and functions under the supervision of the Commerce Ministry.

R P Watal designated as new Finance Secretary

  • The Prime Minister Narendra Modi has approved the designation of R.P. Watal, the senior most Secretary in the Finance Ministry, as Finance Secretary.
  • A 1978-batch Andhra cadre IAS officer, Watal is currently the Expenditure Secretary in the Finance Ministry, Rajiv Mehrishi, who was till recently the Finance Secretary, has now been elevated as Home Secretary.

Sports –

Ethiopia's Mare Dibaba won women's marathon at World Athletics Championships

  • Mare Dibaba of Ethiopia on 30 August 2015 won the women's marathon title at the 2015 World Athletics Championships at the Beijing National Stadium, China. She is the first Ethiopian female to win the event at the world championships.
  • The 25-year-old Dibaba captured the title by finishing the race in 2 hours, 27 minutes and 35 seconds.
  • In the race, she defeated Helah Kiprop of Kenya, who won the silver medal by completing the marathon in 2 hours 27 minutes and 36 seconds. Eunice Kirwa of Bahrain won bronze medal in this event after completing it in 2 hours 27 minutes and 39 seconds.

Anil won gold medal in Cadet Wrestling World Championships

  • Indian wrestler Anil on 29 August 2015 won gold medal in the 50 kg freestyle category in the Cadet Wrestling World Championships at SARAJEVO, the capital of Bosnia and Herzegovina. He defeated Erfan Aeini of Iran 10-6.
  • It was second medal for India at SARAJEVO as Ankush won silver in the 38 kg women freestyle on 28 August 2015.
  • To reach the finals of the competition, earlier, Anil defeated Tumentsogt Bold of Mongolia in the semi-final bout while in quarter-final he defeated Ertugrul Kahveci of Turkey.

Awards & Honors –

ITBP official Jot Singh gets Tenzing Norgay national adventure award

  • Indo-Tibetan Border Police official and mountaineer Jot Singh has been honoured with the Tenzing Norgay national adventure award by President Pranab Mukherjee.
  • Singh, who has been undertaking expeditions with the border guarding force for a long time, was decorated with the award during the national games awards presentation ceremony held at the Rashtrapati Bhavan yesterday.
  • Known as the special force for mountaineering skills, 11 ITBP personnel have got this honour till date.
  • The force has scaled more than 200 peaks across the globe successfully and Inspector Jot Singh is one of the best mountaineers of ITBP, who has also scaled the Mount Everest, an official said.
  • The mountain-trained force has been deployed primarily to guard high altitude Indo-China border since 1962.

Obituaries –

Renowned neurologist and author Oliver Wolf Sacks died

  • Renowned neurologist and author Oliver Wolf Sacks died on 30 August 2015 in New York, the USA. He was 82.
  • Compared to his career as a practitioner of neurology and an academician he was better known as the author of best-selling books on the grey matter like Migraine, Awakenings, The Mind’s eye, etc.
  • He was awarded the Lewis Thomas Prize for Writing about Science in 2001.
  • In 2008, he was conferred with the Order of the British Empire/Sir (CBE) honour for services to literature.

Horror Maestro Wes Craven Dies at 76

  • Filmmaker Wes Craven, the creator of classic horror franchises Nightmare on Elm Street and Scream, has died. He was 76.
  • Craven died on Sunday at his home in LA after battling with brain cancer, his family announced, according to The Hollywood Reporter.
  • Craven wrote and directed the first Nightmare on Elm Street film, helmed the first four Scream movies and guided Meryl Steep to an Oscar nomination in Music of the Heart.
  • The Last House of the Left was Craven's first feature film, which he wrote, directed and edited in 1972.
  • He followed it up with another film, The Hills Have Eyes (1977), which he wrote and helmed.
  • Craven is also credited for discovering young talents, who later came to be known as superstars like Johnny Depp, for A Nightmare on Elm Street, Sharon Stone in her first starring role for Deadly Blessing and Bruce Willis in his first featured role in an episode of the 1980s version of The Twilight Zone.

  1. Padmanabhaswamy Temple - Kerala
  2. Dr. Bhupen Hazarika Cricket Stadium - Guwahati, Assam
  3. Lakh Bahosi Sanctuary - Uttar Pradesh
  4. Wanakbori Thermal Power Station - Gujarat
  5. Currency of Azerbaijan - Azerbaijani manat


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