Current Affairs Update – 25th September, 2015

Hello and welcome to ExamPundit. Here are the Important Current Affairs of 24th and 25th September, 2015. These are Important for the upcoming IBPS PO V Mains Exam.

Finance/Industry/Banking –

Reserve Bank of India relaxed Change in Ownership Norms of Borrowing Entities

  • The Reserve Bank of India (RBI) on 24 September 2015 announced relaxation in norms that allow banks to upgrade credit facilities extended to borrowing entities upon a change in ownership, only if the ownership has been changed outside Strategic Debt Restructuring Scheme (SDR).
  • The Banker’s bank announced that the banks can treat loans to stressed companies that have undergone ownership changes as standard loans, provided the stress was due to operational or managerial inefficiencies.
  • The relaxation will offer more flexibility to banks to bring in a change in ownership of borrowing entities which are under stress due to operational/ managerial inefficiencies despite substantial sacrifices made by the lending banks.

However, RBI announced that the upgrade in the asset classification is subject a few conditions:
  • As per the announcement, the new promoter should not be a person/entity/subsidiary/associate etc. (domestic as well as overseas), from/belonging to the existing promoter/promoter group. 
  • The new promoter should have acquired at least 51 per cent of the paid up equity capital of the borrower company.
  • If the new promoter is a non-resident, and in sectors where the ceiling on foreign investment is less than 51 per cent, the new promoter should own at least 26 per cent of the paid up equity capital or up to applicable foreign investment limit, whichever is higher, provided banks are satisfied that with this equity stake the new non-resident promoter controls the management of the company.

Centre Announces Rs 1000 Cr Special Assistance to AP

  • The Centre has announced a further 'Special Assistance' of Rs 1000 crore to Andhra Pradesh during 2015-16 as per its decision to continue to support the programmes for the development of backward districts of the state.
  • The funds will also be used to provide assistance for creation of the new capital, including the Raj Bhavan, High Court, Government Secretariat, Legislative Assembly, Legislative Council, and such other essential infrastructure.
  • This includes special assistance of Rs 350 crore at the rate Rs 50 crore per district for the development of seven backward districts covering Rayalaseema and North Coastal region, Rs 350 crore for the new capital of the state and Rs 300 crore for Polavaram irrigation project, a Central government release said today.
  • A tax incentive has also been provided in Finance Act, 2015.
  • The Andhra Pradesh Reorganisation Act, 2014 bifurcated the state, and the state of Telengana came into being, effective from June 2, 2014. Having regard to the resource availability, the Centre is required to make appropriate grants and also provide adequate benefits and incentives in the form of special assistance to the backward areas of states, it said.

Ex-Penguin India publisher Chiki Sarkar launched publishing company Juggernaut

  • The former publisher of Penguin India and editor-in-chief of Random House India, Chiki Sarkar, on 23 September 2015 launched her own publishing company, Juggernaut.
  • Sarkar has founded the company in collaboration with ex-CEO of Web18, Durga Raghunath. At presnt, Raghunath is the CEO and co-founder of news portal, Firstpost.
  • Newly formed publishing firm Juggernaut will publish 50 titles each year starting from April 2016.  They will be distributed and stocked by Hachette India.

Uninor re-branded as Telenor India

  • Telenor Group on 23 September 2015 announced that it had changed its brand identity along with legal company name from Uninor, its subsidiary in India, as Telenor India Communications Pvt. Ltd.
  • Telenor in its release said that the renaming will not change its commitment to bring the best value to its 40 million customers.
  • Telenor Group is one of the leading mobile operators in the world, with 189 million mobile subscriptions. It has mobile operations in 13 markets, as well as an interest of 33% in VimpelCom Ltd., operating in 14 markets.
  • The company headquartered in Oslo, Norway provides tele, data and media services in the Nordics, Central and Eastern Europe and Asia. In Asia it is operational in Thailand, Malaysia, Bangladesh, Pakistan, India and Myanmar.

Appointments –

Ministry of External Affairs appointed envoys for Pakistan, China, UK and other countries

  • The Ministry of External Affairs (MEA) on 24 September 2015 appointed new Indian envoys to Pakistan, China, the United Kingdom (UK) and the United Nations (UN) in a major reshuffle.

These appointments are:
  1. Navtej Sarna: Secretary (West) in the Ministry, will be the new High Commissioner to the United Kingdom with effect from November 2015. He succeeded Ranjan Mathai.
  2. Gautam Bambawale: India's Ambassador to Bhutan will take over as High Commissioner to Pakistan. He succeeded TCA Raghavan, who will retire on 31 December 2015.
  3. Syed Akbaruddin: Additional Secretary in-charge of Indo-Africa Summit to be held in October 2015 will be the next Permanent Representative of India to the United Nations, New York. He will replace Asoke Mukerji.
  4. Vijay Gokhale: India's Ambassador to Germany will be the Ambasador to China. He succeeded Ashok Kantha.
  5. Anil Wadhwa: Secretary (East) will be the new Ambassador to Rome.
  6. Pankaj Saran: He will replace PS Raghavan as the Ambassador of Moscow.
  7. Harsh V Shringla: Indian Ambassador to Bangkok will now be serving as High Commissioner to Bangladesh.
  8. Sujan Chinoy: Indian Ambassador to Mexico will now be the Ambassador to Japan and replace Deepa Wadhwa.

Arvind Panagariya appointed as Sherpa for G-20 Summit

  • The Union Government on 24 September 2015 decided to appoint Arvind Panagariya, Vice President of NITI Aayog, as the Sherpa for the 2015 G-20 Summit. The Summit will take place in Antalya, Turkey in November 2015.
  • Sherpa is a senior official responsible for preparing the agenda for leaders to consider during the summit.
  • Panagariya will be replacing Railway Minister Suresh Prabhu who was appointed Sherpa for the G-20 Summit in 2014.
  • Earlier, the Deputy Chairman of the erstwhile Planning Commission used to be the Prime Minister’s Sherpa for G-20 talks.

Former Indian Cricket Captain Sourav Ganguly appointed President of Cricket Association of Bengal

  • Former Indian Cricket captain Sourav Ganguly was on 24 September 2015 appointed as the President of Cricket Association of Bengal (CAB). The announcement regarding this was made by the West Bengal Chief Minister Mamata Banerjee at the state secretariat building in Kolkata.
  • He succeeded Jagmohan Dalmiya and at the time of appointment Ganguly was serving CAB in the capacity of Joint-Secretary.
  • The post had fallen vacant after the sudden demise of Dalmiya at the age of 75 on 20 September 2015.

West Bengal Governor KN Tripathi got additional charge of Governor of Tripura

  • West Bengal Governor Keshari Nath Tripathi was appointed as Governor of Tripura by the President Pranab Mukherjee on 24 September 2015.
  • He will discharge the functions of the Governor of Tripura, in addition to his own duties, during the absence of Tathagata Roy, Governor of Tripura who has gone on leave.
  • Keshari Nath Tripathi was appointed as the 22nd Governor of Bengal in July 2014. Earlier in November 2014, he was also appointed as Governor of Bihar to perform the tasks of Governor of Bihar in addition to his own duties of West Bengal.
  • He was relieved from his previous additional charge of Bihar in August 2015, after Ram Nath Kovind was on 8 August 2015 appointed as Governor of Bihar.

Stuti Narain Kacker appointed Chairperson of National Commission for Protection of Child Rights

  • A 1978 batch IAS officer, Stuti Narain Kacker, on 23 September 2015 was appointed as the head of National Commission for Protection of Child Rights (NCPCR). She was appointed by the Union Women and Child Development Ministry.
  • Kacker is a former Secretary at the Department of Disability Affairs in the Ministry of Social Justice and Empowerment. She looked after the management committee of the Central Adoption Resource Authority (CARA).
  • Before the appointment of Kacker, the panel had remained headless for almost a year. The position was vacant from October 2014 when former UPA appointee Kushal Singh’s tenure ended. Recently, the Supreme Court even commented over a long delay in appointing a chairperson for the panel.

Abdul Bari Siddiqui elected Bihar Cricket Association President

  • Abdul Bari Siddiqui, a senior leader of Rashtriya Janata Dal (RJD) was on 23 September 2015 elected as President of Bihar Cricket Association (BCA). He was chosen as the President after an election, which was held in accordance to direction of the Supreme Court of India.
  • BCA elections were held in August 2015 under the direction of the apex Court which had appointed former Patna High Court judge Justice Dharampal Sinha as electoral officer-cum-observer for the polls.
  • A statement issued by Justice Dharampal Sinha said that Siddiqui defeated Vinod Kumar, a former president of BCA, by a margin of 30 votes in the election.

Alexis Tsipras sworn in as PM of Greece for second time in 8 months

  • Alexis Tsipras of Syriza party on 21 September 2015 was on sworn in as the Prime Minister of Greece by the President of Greece Prokopis Pavlopoulos.
  • It was the second sworn in for him as his party stood victorious in the general elections held to the parliament in January 2015 also.
  • In the recent elections held on 20 September 2015, Syriza secured 35 percent of total votes resulting in 144 seats in the 300-seat Parliament.
  • Syriza formed a coalition government with the Independent Greeks Party, a partner in the previous government as well.
  • The snap polls were called after Syriza lost its majority in August 2015 in the Parliament.

Filmmaker Rahul Rawail resigned from Oscar Selection Jury

  • Filmmaker Rahul Rawail on 23 September 2015 resigned from the Oscar Selection Jury. He resigned from his post citing differences with chairperson of the Jury Amol Palekar.
  • He resigned following the selection of National award-winning Marathi film Court as India’s official entry for Oscars 2016 (88th Academy Awards) by the jury.
  • Court was selected to officially represent India at the 88th Oscars in the Best Foreign Film category. Court directed by debutant Chaitanya Tamhane is a commentary on India's judicial system.

India –

NITI Aayog constituted T Haque Expert Group on Land Leasing

  • Agriculture Division of National Institution for Transforming India (NITI) Aayog in the fourth week of September 2015 constituted an Expert Group on Land Leasing. The expert group will be headed by former Commission for Agricultural Costs and Prices (CACP) chairman T Haque.
  • The 10-member committee was formed in pursuance to decision taken in the meeting held under the chairmanship of Vice Chairman, NITI Aayog, on 24 August 2015.
  • The committee comprises of members from Andhra Pradesh, Uttarakhand, Punjab, Maharashtra, Assam, Rajasthan, Meghalaya and Joint Secretary HS Meena from the Department of Land Resources. While JP Mishra, the Adviser (Agriculture) in NITI Aayog will act as the member secretary.

Census 2011 data on Households with or without Educational level of matriculation and above released

  • The Registrar General & Census Commissioner of India on 24 September 2015 released the Census 2011 data on Households with at least one member aged 15 years and above with or without educational level of matriculation and above by Household Size.
  • The released data showed an increase of 10 percent in the decade 2001-2011 over the decade 1991-2001.

Key Findings from all over India
  1. Around 122.9 million, which is 49.5 percent of the total households in India, with at least one member of age 15 years and above, had one matriculate or more in the decade 2001-2011. During the decade 1991-2001, there were 39.4 per cent of households in India with at least one matriculate and above.
  2. The number of households with at least one graduate and above was 41.4 million (16.7 per cent) in India in 2011. There were around 23.6 million (12.2 per cent) households with at least one graduate and above in 2001.
  3. There are 21.9 million (8.8%) households with at least one female graduate and about 33.2 million (13.4%) households with at least one male graduate and above.

Haryana Government increased the pension given to World War Soldiers

  • Haryana Government on 23 September 2015 increased the pension given to the ex-servicemen or widows of soldiers who took part in World War I and World War II. The pension has been increased by 1500 rupees.
  • The Finance Department approved the increased pension. It has been decided that 4500 rupees per month will be given to the war-widows and ex-servicemen who participated in the World Wars. Earlier, the amount of pension was 3000 rupees per month.
  • The state government will have to bear an additional burden of 8.57 crore rupees due to the raise in pension.
  • Earlier on 8 May 2014, the pension was doubled from 1500 rupees to 3000 rupees per month.

CCS cleared 8000 crore rupees Integrated Air Command & Control System

  • The Cabinet Committee on Security (CCS) on 23 September 2015 approved the proposal for Indian Air Force’s Integrated Air Command and Control System (IACCS) worth around 8000 crore rupees. The system aims at integrating all air and ground sensors.
  • The proposal was sanctioned by the Defence Acquisition Council in November 2014.
  • Once set-up, the system will offer a composite air situation picture to the air headquarters as it will be integrating Air Force, Army and civilian radars.

MoEF Committee gave environmental clearance for Ramagundam Urea plant

  • A committee under the Union Ministry of Environment and Forests (MoEF) on 24 September 2015 gave environmental clearance for the proposed 5465 crore fertiliser plant in Ramagundam, Telangana.
  • Earlier in January 2015, National Fertilizers Limited (NFL), Engineers India Limited (EIL) and Fertilizer Corporation of India (FCIL) together formed a joint venture company (JVC) for setting up two new Ammonia and Urea plants at the existing site of Ramagundam Fertilizer plant.
  • The JVC is named as Ramagundam Fertilizers and Chemicals Limited. The gas-based plant will have the capacity to produce 1.1 million tonnes of urea per annum. It is expected to be commissioned in 2018-19.

PM Visits Ireland –

Prime Minister Narendra Modi visited Ireland

  • Prime Minister Narendra Modi visited Ireland on 23 September 2015. He is the first Prime Minister of India to visit Ireland in 59 years. Last Prime Minister to visit Ireland was Jawahar Lal Nehru in 1956.
  • During his visit, Modi held discussions with Prime Minister Enda Kenny of Ireland, who also hosted a Working Lunch in honour of the visiting dignitary.
  • At present, Modi is on a two-Nation tour namely Ireland (23 September 2015) and the United States of America (23 September to 28 September 2015).

Important events that happened during Modi’s visit to Ireland includes
  • The two nations agreed to develop closer partnership and cooperation.
  • The two nations agreed to chart out a roadmap for collaboration in the digital world and for this they agreed to held talks between Joint Working Group on Information Technology soon.
  • To help the professionals from the two countries they displayed interest in concluding social security agreement.
  • The two nations agreed to have direct air services by airlines of both countries. The stance would help in promoting business links along with tourism ties, which is growing at 14 percent per year.

Sports –

Indian Air Force won 2015 Baba Farid Gold Cup hockey title

  • Indian Air Force (IAF) on 23 September 2015 won the 2015 All India Baba Farid Gold Cup hockey title in Faridkot, Punjab.
  • IAF defeated the Army XI 2-1 to lift the 24th edition of the championships.
  • Incidentally, all the three goals were scored in the first half of the match. The second half of the play went goaless despite both the teams getting several opportunities.
  • Army XI was the first to open the account with a goal by Bachittar in the ninth minute.

Government Chawngfiang Middle School won U-14 sub-junior Subroto Cup Football Tournament

  • Government Chawngfiang Middle School of Mizoram on 24 September 2015 won the sub-Junior (Under-14) title of the 56th Subroto Cup International Football Tournament. In the final held at the Ambedkar Stadium in New Delhi, it defeated Esteqalal School of Afghanistan 3-2.
  • With this win, Chawngfiang Middle School claimed the purse of 2.5 lakh rupees while Esteqalal School claimed 1.25 lakh rupees and a trophy.
  • Air Marshal BBP Sinha presented the trophy to the winners while Mizoram Chief Minister Lalthawala presented the cheque to them.

WADA and China signed MoU on Performance Enhancing Drugs

  • The World Anti-Doping Agency (WADA) and the General Administration of Sport of China (GASC) on 22 September 2015 signed a Memorandum of Understanding (MOU) on Performance-Enhancing Drugs (PEDs).
  • The purpose of the MoU is to enhance the cooperation between the WADA and Chinese authorities in eliminating illegal manufacture and supply of PEDs.

Key features of the Agreement
  • It will help track and eliminate the illegal manufacture and supply of PEDs and also raw materials for the production of PEDs in China.
  • WADA and INTERPOL will be instrumental in providing information to Chinese law enforcement about illegal manufacturers and suppliers of PEDs across China.

Awards & Honors –

Assam Conservationist First Indian to Get Harry Messel Award

  • Conservationist Goutam Narayan has become the first Indian to get Harry Messel Award for Conservation Leadership in recognition of his pivotal role in leading the Pygmy Hog Conservation programme in the North-East.
  • The award was announced during the IUCN Species Survival Commission Leaders' meeting held in Abu Dhabi last week, a release issued by the Pygmy Hog Conservation Programme (PHCP) said today.
  • The award citation mentions that Narayan has been awarded "in recognition of his pivotal role in leading the Pygmy Hog Conservation Programme in north eastern India since 1995, thus saving a whole genus from extinction and his long service to the Wild Pig Specialist Group."
  • The Harry Messel Award recognises exemplary service to IUCN Species Survival Commission, especially from individuals who have made a specific contribution to species conservation on the ground or through their leadership.
  • The award, instituted since 2004, is usually given at an interval of two to four years with 18 individuals and an organisation receiving the award so far.

EPFO won Skoch Award for Smart Governance Initiatives

  • Employees’ Provident Fund Organisation (EPFO) on 23 September 2015 won the Skoch Award for Smart Governance. It was awarded at the India Habitat Centre, New Delhi for its initiatives on UAN Programme and Transformation of Social Security Agenda in India.
  • EPFO was also awarded two SKOCH Order-of-Merits, one for launching UAN for EPFO members and another for transformation of Social Security Agenda in India.
  • Skoch Smart Governance Award is an initiative recognising top performing government organisations and organisations working with the government, operating at local, state and national level.

List –

Forbes released list of India's 100 Richest People

  • Forbes on 23 September 2015 released the Forbes list of richest Indians. The list contains names of 100 wealthiest people of India with a collective wealth amounting to 345 billion dollars.
  • Industrialist Mukesh Ambani has retained the tag as India’s richest for the ninth year in a row with a net worth of 18.9 billion dollar.

 Net Worth
 Mukesh Ambani
 18.9 Billion dollars
 Dilip Shanghvi
 18 Billion dollars
 Azim Premji
 15.9 Billion dollars
 Hinduja Brothers
 14.8 Billion dollars
 Pallonji Mistry
 14.7 Billion dollars
 Shiv Nadar
 12.9 Billion dollars
 Godrej Family
 11.4 Billion dollars
 Lakshmi Mittal
 11.2 Billion dollars
 Cyrus Poonawalla
 7.9 Billion dollars          
 Kumar Birla
 7.8 Billion dollars

India’s 100 richest list include names of four women who have a collective wealth of 9.2 billion dollar, which accounts to nearly three percent of the total net worth of all in the list. The four women in the list are
  1. Savitri Jindal – Chairperson of the OP Jindal group was ranked at 23th position with net worth of 3.8 billion dollars
  2. Leena Tewari - Chairperson of generic drugs maker USV Pharma group was ranked at 54th position with net worth of 1.9 billion dollars
  3. Indu Jain - Chairperson of India's largest media group, Bennett, Coleman & Co. Ltd group was ranked at 57th position with net worth of 1.9 billion dollars
  4. Vinod Gupta - Wife of Havells founder Qimat Rai Gupta was ranked at 74th position with net worth of 1.6 billion dollars

Daily Expected Questions on Stock GK

1. Moin-ul-Haq Stadium is located in which city/state?
- Patna, Bihar

2. Kuno Wildlife Sanctuary is located in which state?
- Madhya Pradesh

3. Dhuvaran Thermal Power Station is located in which state?
- Gujarat

4. The Chennakesava Temple is located in which state?
- Karnataka

5. Yerevan is the capital city of which country?
- Armenia


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