Current Affairs Update – 7th September, 2015

Hello and welcome to ExamPundit. Here are the Important Current Affairs of 7th September, 2015. These are important for IBPS PO V.

Banking/Industries –

NPCI launches new RuPay credit cards co-branded with Mudra Bank

  • In a move to increase penetration of RuPay Cards, soon National Payments Corporation of India (NPCI) will roll out a new credit card that will be co-branded with Mudra Bank. It is also in the final stage of discussion with China UnionPay and Japan-based JCB Co., Ltd, which would allow RuPay card holders to use their cards in other parts of the world.
  • Meanwhile, NPCI is also planning to raise around Rs 100 crore through private placement by end of this year.
  • RuPay Card is an Indian version of credit/debit card. It is very similar to international cards such as Visa/Master. National Payments Corporation of India (NPCI) initiated the launch of RuPay card in India.
  • M Balachandran, chairman, NPCI said it has already tied-up with Discover Network Merchants, which is the third largest in US and Europe, and now is in the final stages of talks with JCB (Japan Credit Bureau) and China UnionPay.

Reliance Defence signs MoU with Abu Dhabi Ship Building

  • Reliance Defence Ltd. (RDL), a wholly-owned subsidiary of Anil Ambani-led Reliance Infrastructure Ltd. has signed a memorandum of understanding (MoU) with Abu Dhabi Ship Building (ADSB) to explore an opportunity to set up a strategic partnership for the construction of naval ships including frigates, destroyers and other specialised vessels to address the needs of Gulf Cooperation Council (GCC) over the next 10 years.
  • ADSB is a leading provider of construction, repair and refit services for naval, military and commercial vessels in the GCC region.
  • Both RDL and ADSB are believed to be incorporating a joint venture, which will encompass both construction of new naval vessels as well as maintenance, repair and overhaul and refit opportunities of existing commercial and naval vessels in the region. Reliance Defence will be the majority partner in this proposed joint venture with 51 per cent stake, according to people familiar with the development.

Appointments –

DRDO names first female Director General J Manjula

  • In a first, the Defence Research and Development Organisation (DRDO), will have a woman scientist heading an important cluster with the high rank of a Director General.
  • J Manjula, has been appointed the new Director General (DG - Electronics & Communications Systems or ECS) today. She will be one of the seven DG's, who are heading different clusters within the DRDO, which has nearly 50 national laboratories and Institutes under its network.
  • A recognised expert in electronic warfare systems for Air Force, Manjula is an Outstanding Scientist and Director of Bengaluru-based DARE, Defence Avionics Research Establishment.
  • She brings vast experience in EW systems, following a long stint with the Hyderabad-based, DLRL (Defence Electronics Research Laboratory), which is a pioneer in EW systems and cutting edge communications.

India –

Prime Minister Modi inaugurated extension of Delhi Metro Line till Faridabad

  • Prime Minister Narendra Modi on 6 September 2015 inaugurated the extension of Delhi Metro connecting Badarpur to Escorts Mujesar in Faridabad.
  • This extension till Faridabad, an industrial hub in Haryana would allow hassle-free travel for around two lakh daily commuters between the national capital and the industrial hub in Haryana.
  • The total cost of the project from Badarpur to Escorts Mujesar was to the tune of 2500 crore rupees.
  • Out of this, 1557 crore rupees was borne by the Haryana Government, while 537 crore rupees was contributed by the Union Government and 400 crore rupees was spent by Delhi Metro.

Bala Tripura Sundari Devi Temple renovated under India-Nepal Economic programme inaugurated

  • Indian Ambassador to Nepal, Ranjit Rae on 5 September 2015 inaugurated the newly renovated Bala Tripura Sundari Devi Temple at Tripurakot. It is situated on the bank of glacial river Thuli Bheri in Dolpa district of Nepal.
  • The temple was constructed with 33.3 million Nepali rupees financial support from the Indian government.
  • Shree Bala Tripura Sundari Devi Temple is a historic structure said to be more than 900 years old, having great socio-cultural relevance in the life of the people of the Dolpa district. The renovation of the temple has upgraded the old structure with improved facilities for 20000 pilgrims visiting the temple every year.

World –

Chinese, Pakistani forces launch joint air drill called 'Shaheen (Eagle)-4'

  • Chinese and Pakistani forces on Sunday launched a joint air drill, a military spokesperson announced.
  • The Chinese contingent includes fighter jets, fighter bombers and early warning planes while Pakistan has dispatched fighter jets and early warning planes for the military exercise, Air Force spokesperson Shen Jinke said.
  • Shen, however, did not mention how long the drill would last, Xinhua news agency reported.
  • The joint exercise called "Shaheen (Eagle)-4" is part of a series of military exchange programmes between the two air forces, Shen said, adding that China's air force was willing to expand the scope of cooperation with various countries.
  • The first such drill was held in Pakistan in March 2011, the second in China's western Xinjiang Uygur region in September 2013.

Books & Authors –

To the Brink and Back: India's 1991 Story by Jairam Ramesh

  • The book titled To the Brink and Back: India's 1991 Story was in news in the first week of September 2015. It was written by former Union Environment and Forest Minister (Independent Charge) Jairam Ramesh.
  • The book deals with fast-paced changes in the economic sector introduced by the duo P V Narasimha Rao and Manmohan Singh in 1991.
  • It was the first hand account in the sense it narrates author’s observations when he was part of the Prime Minister’s Office (PMO) during first 90 days of the Narasimha Rao’s government.
  • It also holds key documents and notes, placed for the first time in the public domain; the personal papers of Narasimha Rao; private conversations with Manmohan Singh; Parliament proceedings; and the minutes of seminal Congress meetings.

Sports –

Shane Watson retired from Test cricket

  • Australian all-rounder Shane Watson announced his retirement from Test cricket on 6 September 2015. He announced his retirement immediately after his calf injury cut short his one-day international tour of Britain.
  • He stated that he will continue his international career in the One-Day Internationals and Twenty20 Internationals.
  • 34-year-old Watson's 10-year Test career came to an end at the Ashes opener at Cardiff, which England won by 169 runs. His 30 and 19 with the bat and failure in taking a wicket made him to lose his place for the rest of the series.

Daily Expected Questions on Stock GK:

1. Omkareshwar Temple is located in which state?
- Madhya Pradesh

2. Maharaja Bir Bikram College Stadium is in which city/state?
- Agartala, Tripura

3. Narora Atomic Power Station is located in which state?
- Uttar Pradesh

4. International Mango Festival is hosted in which state/country?
- Delhi, India

5. What is the official currency of Jordan?

- Jordanian dinar


Team ExamPundit


Books For 2015 Banking/Insurance Exams