Current Affairs Update – 8th September, 2015

Hello and welcome to ExamPundit. Here are the Important Current Affairs of 8th September, 2015. These are important for the upcoming IBPS PO V Exam.

Finance/Industry –

RBI cancels Sahara India's para-banking license

  • In a fresh setback to the beleaguered Sahara India Pariwar, the Reserve Bank of India (RBI) has cancelled the license of its holding company Sahara India Financial Corporation Limited (SIFCL), officials said on Tuesday.
  • The action has been taken by the department of non-banking supervision of the RBI, in Kanpur.
  • The move comes in wake of several irregularities and ignoring financial rules and regulations by Sahara, an official further informed.
  • The notice cancelling its license to conduction financial business has been sent to the Kapurthala head quarter of the Sahara India.
  • The move is being seen as the `final nail` in the fortunes of the once-fledgling company as the SIFCL was its core wing from which money was collected through small time subscribers and then routed to other wings such as media, real estate and others.

Doha Bank tied up with Reliance ADA Group to generate business opportunities

  • Doha Bank on 7 September 2015 tied up with Anil Ambani-led Reliance ADA Group to generate business opportunities in the Gulf Cooperation Council nations and India. Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, Bahrain and Oman are part of the Gulf Cooperation Council (GCC).
  • The MoU is envisaged to provide tangible business opportunities and further prospects for expansion for Doha Bank and Reliance Group. It will also provide synergy in product development and congruence in mutual infrastructure support.
  • This tie-up will open new horizons for business reciprocity in financial services. It will include financial services initiatives with Reliance Capital in the areas such as asset management, life and general insurance and distribution of financial services.

Maharashtra government to abolish LBT on petrol and diesel within 15 days

  • Maharashtra government on 7 September 2015 decided to abolish the Local Body Tax (LBT) within 15 days on petrol and diesel. The decision was taken to end the disparity between fuel dealers and other traders.
  • The decision came after discussions were held between the state government and petrol/diesel pump owners over its imposition. Abolishing LBT will cost the government exchequer 280 crore rupees.
  • However, the government will impose an alternate tax in place of LBT.
  • Besides, the State Finance Minister Sudhir Mungantiwar claimed that the fuel dealers are ready to accept the imposition of an alternate tax in lieu of LBT. All they want is parity between all pump owners.

UBS cuts India’s growth forecast to 7.1% for FY16

  • Swiss brokerage UBS has revised downwards India’s GDP growth projection for the current fiscal to 7.1 per cent from 7.5 per cent earlier on account of weaker external demand prospects.
  • The global financial services firm has also lowered its growth projection for financial year 2016-17 to 7.6 per cent from 8.3 per cent earlier.
  • India’s GDP growth rate slipped to 7 per cent in the April-June quarter of 2015-16, from 7.5 per cent in the preceding quarter.
  • The downward revision in growth projection comes despite lower oil prices, which were expected to provide a boost to Indian growth.

MCX Ltd, IamSMEofIndia signed MoU to unveil benefits of Commodity Price Risk Management

  • The Multi Commodity Exchange of India Ltd (MCX) and Integrated Association of Micro, Small & Medium Enterprises of India (IamSMEofIndia) on 7 September 2015 signed a Memorandum of Understanding (MoU) aimed at creating awareness among Micro, Small and Medium enterprises (MSMEs) on the benefits of commodity price risk management.
  • This collaboration will encourage them to hedge on exchanges and face competition adroitly. It will also disseminate in-depth knowledge about the derivatives market and its benefits among MSMEs will lead to their growth and development.
  • The small businesses are hubs of innovation and entrepreneurship, they provide a varied range of products, but bear the brunt of international commodity price movements. However, this collaboration will enable and empower them to effectively manage their risks amidst unprecedented uncertainty.

India –

Andhra Pradesh Government launched e-Pragati project to provide Integrated One Governance

  • The Andhra Pradesh government on 5 September 2015 launched the AP State Enterprise Architecture (APSEA) e-Pragati project to bring all the government services under one roof. The APSEA is a comprehensive architecture to leverage the latest advances in e-governance tools.
  • The project is aimed at bringing together 745 government to businesses, government to citizens, government to employees and government to governments services offered by 33 departments and more than 300 government agencies.
  • e-Pragati has been designed with an estimated investment of 2358 crore rupees of which the State will share 1528 crore rupees over a period of three years.
  • The basic objective of this project is to move away from the piecemeal approach and provide an integrated One governance that will be citizen-centric, transparent and effective.

First-ever Census on India’s Leopard presented

  • Lead scientist of the tiger census Yadvendradev V Jhala in first week of September 2015 presented first ever data on India’s leopard. The team shows availability of around 7910 of leopards across India, except the northeastern region of India.
  • Based on the data covered, the team estimates leopard population to be around 12000 to 14000.
  • The very first leopard count of India was presented by Jhala at Wildlife Institute of India's annual research seminar in Dehradun, Uttarakhand.

The lead Scientist Jhala says that the species is well distributed across India, which means that the animal is quite healthy. Their population according to the study
  • Madhya Pradesh – an estimated population of 1817
  • Karnataka - an estimated population of 1129
  • Maharashtra - an estimated population of 905
  • Chhattisgarh - an estimated population of 846
  • Tamil Nadu - an estimated population of 815
  • Bihar - an estimated population of 32
  • Jharkhand - an estimated population of 29

BSNL to upgrade Broadband speed to minimum 2 Mbps at no additional cost

  • Bharat Sanchar Nigam Limited (BSNL) on 7 September 2015 decided to upgrade Broadband speed to minimum 2 Mbps at no additional cost for all its Broadband customers. The service will be effective from 1 October 2015.
  • Under this scheme, BSNL is upgrading the speed of existing Broadband plans of 512 Kbps and one Mbps to two Mbps speed. The speed up-gradation will benefit all the existing and new Broadband customers of BSNL.
  • This plan of BSNL was formally announced by the Information Technology (IT) Minister Ravi Shankar Prasad at a function in Gurgaon.
  • With this upgradation, BSNL customers will be able to access/surf the internet including social network websites like Facebook, Google, Twitter, etc. at high speed.

Himachal Pradesh organised organic fair and food festival to boost organic farming

  • To promote organic farming in the state, the Himachal Pradesh Government on 8 September 2015 organised a three-day organic fair and food festival in the state. The organic fair and food festival was organised in Shimla, the capital city of Himachal Pradesh.
  • The fair was organised by the Department of Agriculture in collaboration with the International Competence Centre for Organic Agriculture (ICCOA), Bengaluru. It was inaugurated by State Agriculture Minister Sujan Singh Pathania.
  • The fair was organised with an aim to popularise organic farming in the state where 90 percent of the population is residing in rural areas and 79 percent families are dependent on agriculture. At present the organic farming is being done on nearly 16 thousand hectare land in the state.

Appointments –

Government names Professor Ramesh Chand as NITI Aayog full-time member

  • Agriculture expert Prof Ramesh Chand has been appointed full-time member of NITI Aayog by the government.
  • Chand has been a member of the task force on agriculture development under NITI Aayog, which is formulating strategies to give a boost to the agriculture sector.
  • He has also headed a government panel on minimum support price and has been working as the Director of National Institute of Agricultural Economics and Policy Research (NIAP) in New Delhi since 2010.
  • The National Institute of Transforming India NITI Aayog under the chairmanship of Prime Minister Narendra Modi has been set up succeeding the erstwhile Planning Commission.
  • It has noted economist Aravind Panagariya as its Vice-Chairman with economist Bibek Debroy and former DRDO chief V K Saraswat, along with agriculture expert Ramesh Chand now, as full-time members.

Sports –

Anirban Lahiri became first Indian golfer to qualify for Presidents Cup

  • Anirban Lahiri on 7 September 2015 became the first Indian golfer to qualify for a Presidents Cup. He will be part of the International Team in the 2015 championship.
  • The championship is scheduled to be held at Incheon in South Korea between 2 October and 4 October 2015.
  • Lahiri qualified for the event as he is part of the top 10 international players (excluding those eligible for the European Ryder Cup team) from the official world golf ranking as the conclusion of the 2015 Deutsche Bank Championship.

Weightlifter Deepak Lather wins gold in fifth Youth Commonwealth Games

  • Indian weightlifters continued to make their presence felt on Day 2 of the fifth Youth Commonwealth Games after Deepak Lather won a gold in the 62 kg category here today.
  • This was India's second gold in weightlifting after Jamjang Deru stood atop the podium in the 56 kg category on the opening day of the event.
  • The 51-year-old Deepak finished with a total of 258 kg with 120 kg in snatch -- new CYG record -- and 138 kg in clean and jerk.
  • India are being represented by 25 athletes in eight disciplines out of the nine being competed in the CYG.

Apurvi Chandela bags silver at ISSF World Cup Final

  • Young Indian shooter Apurvi Chandela impressed again as she clinched the silver medal in the women’s 10m air rifle event of the ISSF rifle and pistol World Cup Finals in Munich on Saturday.
  • The 22-year-old Jaipur girl finished second after she tallied 206.9, just 0.6 behind Ahmadi Elaheh of Iran, who won the gold medal with a tally of 207.5.
  • Andrea Arsovic of Serbia bagged bronze after prevailing in a shoot-off with Croatia’s Valentina Gustin.
  • In the finals, Chandela started on a rousing note as she fired two shots of 10.8 to lead after Series 1 of the first competition stage. A total of 30.6 in the second series saw her a drop a place.
  • Thereafter, the Indian managed to remain in contention for a medal. Chandela’s final shot was a 10.2, which was just 0.2 less than the eventual winner Elaheh, who shot a 10.4.

Days –

International Literacy Day 2015 celebrated across the world

  • The International Literacy Day was celebrated on 8 September 2015 across the world. The theme of International Literacy Day 2015 is Literacy and Sustainable Societies.
  • The theme was chosen to highlight the fact that literacy is a key element in achieving sustainable societies.
  • Further, the theme assumes significance as the world is gearing up to adopt the post-2015 Sustainable Development Goals (SDGs) at the UN General Assembly meeting scheduled to be held in September 2015.

Awards & Honors –

Black Mamba Anti-Poaching Unit of South Africa selected for 2015 UNEP Champions of the Earth award

  • Black Mamba Anti-Poaching Unit (APU) of South Africa was on 7 September 2015 selected for the 2015 UNEP Champions of the Earth award in the inspiration and action category.
  • The Black Mamba APU was selected for its courage in comabatting poaching and community led initiatives in protecting wildlife in the Balule Private Game Reserve of South Africa.
  • The award will be conferred during the Sustainable Development Goals summit that is scheduled to be held on 27 September 2015 in New York.
  • It was founded in 2013 to protect wildlife in the Balule private game reserve.  It is part of the Greater Kruger National Park that is spread over 2 million hectares of protected areas.

Reports –

UNEP released Global Waste Management Outlook

  • The Global Waste Management Outlook was released on 7 September 2015 in the Belgium capital Antwerp. It was a first of its kind report on waste management at the global level.
  • It was jointly prepared by the United Nations Environment Programme (UNEP) and the International Solid Waste Association (ISWA).
  • The purpose of the report is to generate awareness among policy makers and public in general about different sources of wastes, their impact on health and environment and finally, solutions to mitigate the associated problems.
  • It identified India as one of the major dumping sites in the world as it has become a major destination for unused ship breaking, outsourcing polluting industries, etc.
  • It surveyed various sources of waste in urban areas including waste generated from hospitals, industries and household.

Daily Expected Questions on Stock GK:

1. Old Trafford Stadium is located in which country?
- England

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

3. Barh Super Thermal Power Station is located in which state?
- Bihar

4. What is the Currency of Paraguay?
- Paraguayan guaraní

5. Which of the following city is the capital of Bolivia?
- Sucre


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