Current Affairs Update – 12th October, 2015 - Exam Pundit - IBPS PO | Clerk | SBI PO | Insurance Exams | SSC Exams | Current Affairs


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Monday, October 12, 2015

Current Affairs Update – 12th October, 2015

Hello and welcome to ExamPundit. Here are the Important Current Affairs of 11th and 12th October, 2015. These are very Important for the upcoming IBPS PO V Mains Exam and IBPS Clerk 2015.

Finance/RBI –

RBI inks MoU with Bank of Botswana for information exchange

  • The Reserve Bank has signed an agreement on information sharing with Bank of Botswana under the Supervisory Cooperation and Exchange of Supervisory Information.
  • "The Reserve Bank signed a memorandum of understanding (MoU) on Supervisory Cooperation and Exchange of Supervisory Information with Bank of Botswana," RBI said in a release today.
  • The MoU was signed by Andrew M Motsomi, Director of Banking Supervision on behalf of Bank of Botswana, and Parvathy V Sundaram, Chief General Manager-in-Charge, Department of Banking Supervision, of RBI.
  • RBI has entered into similar agreements with a few countries to promote greater co-operation and share supervisory information.
  • With this, the Reserve Bank has signed 28 such MoUs, one Letter for Supervisory Co-operation and one Statement of Co-operation, it added.

Yes Bank gets RBI nod for mutual fund, AMC and trustee co

  • Private sector lender Yes Bank today said it has got the Reserve Bank's approval to set up a mutual fund, asset management company (AMC) and a trustee company.
  • In a regulatory filing, Yes Bank said it "has received an approval from the RBI to sponsor a mutual fund, and to set up an asset management company and a trustee company."
  • It further said: "In its twelfth year of operation, as Yes Bank accelerates into its next phase of growth, this new business initiative will provide further acceleration to Yes Bank's differentiated product offerings."
  • The AMC and trustee company will be wholly-owned subsidiaries of Yes Bank, it added.
  • The lender said its AMC will channelise savings of retail and institutional investors in equity and debt capital markets.

2015 Annual meetings of World Bank Group and IMF held in Peru

  • Annual meetings of the World Bank Group and the International Monetary Fund were held between 9 October and 11 October 2015 in the Peruvian capital Lima.
  • The meetings saw the attendance of central bankers, finance ministers and development and private senior executives and academics from the member countries of both the World Bank Group and the IMF.
  • The Union Finance Minister Arun Jaitley in his capacity as India's Governor on Board of Governors of IMF and the World Bank led the Indian delegation that included RBI Governor Raghuram Rajan and Chief Economic Advisor Arvind Subramanian among others.

India –

India, Jordon inked six MoUs to enhance cooperation

  • India and Jordon on 11 October 2015 inked six Memorandum of Understandings (MoUs) in various fields in Amman. The MoUs were signed as part of the President Pranab Mukherjee's state visit to Jordan.
  • Mukherjee was on a three-day visit to Jordan from 10-12 October 2015. He visited the country on the invitation of His Majesty King Abdullah-II Ibn Al Hussein of the Hashemite Kingdom of Jordan.
  • During the visit, Mukherjee was accompanied by Thaawar Chand Gehlot, Union Minister of Social Justice and Empowerment, Members of Parliament and the learned members of the academic community, apart from official delegation and media representatives.

List of agreements/MoUs signed during the visit of President to Jordan
  1. Agreement on Maritime Transport: Aimed at establishment of effective co-operation on the basis of shared commitment, and convinced on strengthening and development of relations in merchant shipping and maritime transport.
  2. MoU on exchange of information on structure and content of training programmes for diplomats: This will include identification of experts in mutually agreed areas, promotion of contacts and exchange of trainees, students, faculty members and experts.
  3. MoU on Cooperation in the field of IT & Electronics: This seeks to examine ways and means to promote and strengthen bilateral cooperation and will seek to implement institutional and capacity building cooperation programme.
  4. Cultural Exchange Programme for 2015-17: Recalling the Cultural Agreement signed on 15 February 1976, it seeks to further develop and promote cultural, scientific and technical relation. It also looks forward on the agreement on the Executive Programme in the fields of Art & culture, Mass media etc.
  5. MoU for Cooperation in the fields of Standardization and Conformity Assessment: The MoU between the Bureau of Indian Standards [BIS] and the Jordan Standards and Metrology Organization [JSMO] seeks to enhance and strengthen technical co-operation in the fields of standardization, and conformity assessment with the aim of exchanging necessary information and expertise between the Parties.
  6. Cooperation Agreement between Jordan News Agency [Petra] and Press Trust of India [PTI]: It seeks to establish regular exchange of content on the developments; promotion of mutual cooperation and professional interaction, agreement on exchange of news through the internet; accepting the right to use the said news for distribution to their subscribers.

Mission Abaas launched in Odisha to provide affordable houses to urban poor

  • The Odisha Government on 11 October 2015 launched Mission Abaas, state’s urban housing mission, to provide affordable houses to Economically Weaker Sections (EWS), Low Income Groups (LIG) and slum dwellers.
  • The scheme aims at fulfilling the promise of protection and welfare of slum dwellers by providing affordable housing along with basic amenities such as piped water supply, electricity, concrete roads, drainage and community centre.
  • As notified in August 2015, Abaas will be the nodal agency to execute the Policy for Housing for All in Urban areas.

IRCTC, Apollo Hospitals tie up for medical tourism

  • The Indian Railway Catering and Tourism Corporation (IRCTC) has partnered Chennai-based Apollo Hospitals to offer hassle-free travel for people who travel for medical care. IRCTC is also looking to expand the service to neighbouring countries such as Sri Lanka and Bangladesh in collaboration with airline services and other travel facilitators in those countries.
  • Under the memorandum of understanding (MoU) with Apollo, IRCTC will operate a chartered coach from Kolkata to Chennai every 14 days and integrate its offerings with the preventive health check-up packages of Apollo Hospitals to offer a comprehensive package to the travellers. The coach will be stationed in Chennai for three days and will return with the same set of passengers.
  • IRCTC will arrange the chartered coach in appropriate trains between Kolkata and Chennai, exclusively for passengers who have opted for Apollo-IRCTC package.

Indian, Chinese army kick off anti-terrorism exercise

  • Indian and Chinese armies today kicked off their fifth annual anti-terrorism exercise in China’s Kunming city as both the sides seek to share their successful experiences in counter-terrorism operations during the 10-day drill.
  • India for the first time fielded troops from Naga Regiment to take part in the exercises. A contingent of 175 troops from 2nd Battalion of Naga Regiment from Eastern Command reached Kunming by IAF IL-76 aircraft yesterday to take part in the exercise.
  • Both sides are fielding the same number of troops for the joint exercises, which will culminate on October 22, a press release from the Indian Embassy here said today.
  • Troops from 14 Corps of China’s Chengdu Military Region, which focuses on borders with India are taking in the exercise.
  • Troops of both sides will undergo intensive joint training, which will include displays, demonstrations, and a comprehensive joint exercise.
  • The purpose of the exercise is to develop joint operating capability, share useful experience in counter-terrorism operations and to promote friendly exchanges between the armies of India and China, the press release said.

Appointments –

Sharad Mehrotra appointed CEO of Telenor India

  • Sharad Mehrotra has been appointed as the new Chief Executive Officer (CEO) of Telenor India.
  • Mehrotra will succeed Vivek Sood who has been appointed Executive Vice President and Chief Marketing Officer of the Telenor Group. Both appointments will be effective from 1 November 2015, the company said in a statement.
  • Mehrotra was earlier Chief Marketing Officer (CMO) of Telenor Myanmar, where he has played a key role in the successful launch of Telenor's mobile services. He was also a part of management in India from 2008-2013 during establishment of Uninor, now Telenor India. As CEO of Telenor India, Mehrotra will also be a member of Telenor Group's executive management.

KP Sharma Oli elected as the Prime Minister of Nepal

  • Veteran communist (Unified Marxist Leninist) leader KP Sharma Oli on 12 October 2015 was elected as the Prime Minister of Nepal. He is the country’s first Prime Minister under the newly introduced constitutional system. 
  • He defeated incumbent Prime Minister Sushil Koirala of the Nepali Congress.
  • In the voting held for the Nepal’s Parliament (a house of 597 members), Oli secured 338 votes, 39 more than the 299 that he needed to be elected as the prime minister. On the other hand, Nepali Congress president Koirala could only secure 249 votes.            

Jioji Konrote elected as Fiji's President

  • Fiji’s Parliament on 12 October 2015 elected the Minister for Employment, Productivity and Industrial Relations, Jioji Konrote, as the country’s next President.
  • Konrote, who was nominated by the ruling FijiFirst party, fetched 31 votes in the presidential election held in the parliament. On the other hand, the opposition SODELPA party’s candidate Ratu Epeli Ganilau received 14 votes.

Infosys CFO Rajiv Bansal resigns

  • Infosys on Monday informed the stock exchanges about key managerial changes in the organisation. According to a filing, the company said that Rajiv Bansal who is the Chief Financial Officer of the company stepped down as the CFO and key managerial personnel effective October 12, 2015 (end of business hours) and resigned from the services of the company effective December 31, 2015.
  • The Board of Directors of the Company in its meeting also appointed Ranganath D. Mavinakere, as the new Chief Financial Officer and Key Managerial Personnel effective October 12, 2015.
  • Infosys had appointed Rajiv Bansal as the CFO from November 1, 2012 following the movement of the then CFO V Balakrishnan, to Infosys BPO, Finacle and India Business.
  • Mr Mavinakere, is presently the EVP and head of strategic operations and CEO's office. He is associated with the company for over 15 years and is responsible for strategic planning, risk management, mergers & acquisitions and corporate marketing. From January 2008 to July 2013, he was the Chief Risk Officer (CRO).

Awards & Honors –

Microeconomist Angus Deaton won the 2015 Nobel Prize in Economics

  • Microeconomist born in Edinburgh Angus Deaton on 12 October 2015 won the 2015 Nobel Prize in Economics. He was awarded for his analysis of consumption, poverty, and welfare.
  • The key to his work is measuring how public behaviour changes if, say, the government raises the VAT rate on food.
  • According to Nobel Committee, “by linking detailed individual choices and aggregate outcomes, his research has helped transform the fields of microeconomics, macroeconomics, and development economics.”
  • Deaton, aged 69, is based at Princeton, where he researches health, wellbeing, and economic development. He is the Dwight D Eisenhower professor of economics and international affairs at the Woodrow Wilson School of Public and International Affairs at Princeton.

Sports –

Novak Djokovic defeated Rafael Nadal to win 2015 China Open Men’s Singles title

  • Novak Djokovic on 11 October 2015 won the China Open Men’s Singles title by defeating Rafael Nadal of Spain.
  • In the summit clash held at the National Tennis Centre in Beijing, the top seeded Serbian overpowered Nadal by 6-2 6-2.
  • For Djokovic, it was the fourth consequent win in Beijing since 2012.
  • Overall, he is the only player to have won the title six times. His other two titles were in 2009 and 2010.
  • In early 2015, Djokovic joined Roger Federer and Rod Laver as the only men in the Open era to reach all four major finals. His only defeat came in the final of the French Open against Stan Wawrinka of Switzerland.

Punjab National Bank won Beighton Cup of Hockey

  • Punjab National Bank (PNB) on 11 October 2015 claimed the Beighton Cup hockey tournament at the Sports Authority of India (SAI) ground in Kolkata. PNB defeated Indian Oil Corporation (IOC) by 5-3 in penalties.
  • At the end of regulation time, both teams were locked at 1-1. Satpal Gulia of PNB had put the team in front in the 30th minute via a penalty corner. Three minutes after the half-time, Deepak Thakur of IOC went for a field goal.
  • However, Naveen Antil of PNB struck the decisive goal in the end to kick off the celebration for the team.
  • PNB goalkeeper Jasbir Singh was awarded with the Best Player award, whereas, the Fairplay Trophy was given to Army XI.

Indian shuttler Ajay Jayaram won 2015 Dutch Open Men’s Singles title

  • Ajay Jayaram of India on 11 October 2015 defended the 2015 Dutch Open Men’s Singles badminton title.
  • In the summit clash held at Almere in Netheralnds, the World Number 26 ranker defeated Estonia’s Raul Must by 21-12 21-18.
  • While Jayaram won his maiden title in 2014, it was the fourth overall title for India. The other two titles were won by Prakash Padukone and Chetan Anand in 1982 and 2009 respectively.
  • Dutch Open is a Grand Prix category tournament that is held annually since 1932 in Netherlands. It is currently organized by Nederlandse Badminton Bond (NBB) and is a part of the European Badminton Circuit.

India won four-match Men’s Hockey Test series against New Zealand by 2-1 margin

  • India on 11 October 2015 won the four-match Men's Hockey Test series against New Zealand 2-1. In the final test played at Christchurch, India through its brilliant play held the hosts to a 1-1 draw. 
  • After witnessing no goals in the first half, one each goal was scored from both the sides. From New Zealand, Nick Ross scored the first goal in the 41st minute which was matched by SV Sunil of India in the 43rd minute of the match.
  • After losing the first match of the series in Nelson against the hosts, India came back strongly to register back-to-back wins in the last two games.

Spaniard Garbine Muguruza won women’s singles title of China Open

  • Spain’s Garbine Muguruza on 11 October 2015 captured the China Open women's singles title by defeating Switzerland's Timea Bacsinszky. Muguruza emerged out victorious by a perfect 3-0 record against the Swiss rival.
  • The win had Muguruza achieve her career-high singles ranking of world no. 4.
  • The China Open was Muguruza’s second WTA title, after she won her first at Hobart International in 2014. She had also reached the final of the 2015 Wimbledon Championships and made consecutive quarterfinal appearances at the 2014 and 2015 French Open.

Days –

Fourth International Day of the Girl Child observed across the world

  • The Fourth International Day of the Girl Child (IDGC) was observed across the world on 11 October 2015 with the theme The Power of Adolescent Girl: Vision for 2030.
  • To mark the occasion campaigns, meetings and workshops were held to across the world to raise awareness about importance of girl child and steps to promote gender equality.
  • The theme was selected in recognition of the importance of investing in adolescent girls’ empowerment and rights, both today and in the future.
  • In September 2015, the UN General Assembly reviewed the progress of girl child development under Millennium Development Goals (MDGs) and approved of continuing the momentum in the form Sustainable Development Goals (SDGs) for the period between 2016 and 2030.

Obituaries –

Former British Finance Minister Geoffrey Howe died

  • Geoffrey Howe, Britain’s former treasury chief, died on 9 October 2015 due to a suspected cardiac arrest in Idlicote, England. He was 88.
  • Howe, who administered Britain's recovery from recession in the 1980s, was a champion of closer European unity.
  • He was Margaret Thatcher's longest-serving Cabinet minister who served as Chancellor of the Exchequer from 1979 to 1983, Foreign Secretary from 1983 to 1989, Leader of the House of Commons from 1989 to 1990 and Deputy Prime Minister from 1989 to 1990.
  • He hailed as one of the great leaders of the Conservative party and emerged out as a quiet hero of the Thatcher years.

Veteran Tamil actress Manorama died

  • Legendary Tamil actress Gopishantha, popularly known by her stage name Manorama, died on 10 October 2015 due to multiple organ failure in Chennai, Tamil Nadu. She was 78.
  • Manorama acted in over 1500 movies in her career spanning almost six decades. She was also a brilliant comedian, singer and a stage artiste.
  • Her first film was Malayitta Mangai, which released in 1958. She sang her first song in Ratha Thilagam in 1963. She also sang a song composed by A R Rahman for the film May Madham in 1994.
  • She was affectionately called as Aachi Manorama for her popular grandmother roles in TV serials, which she played in the later part of her career.


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