Current Affairs Update – 15th October, 2015

Hello and welcome to ExamPundit. Here are the Important Current Affairs Update of 15th October, 2015. These are Important for the upcoming IBPS PO Mains and IBPS Clerk 2015.

Finance/Industry –

Tata Housing tied-up with Facebook to sell its affordable homes online

  • Real estate developer Tata Housing on 14 October 2015 tied-up with social networking firm Facebook to sell its affordable homes online. For this purpose, Tata Housing launched the new campaign titled Social sell on Facebook.
  • Through this new campaign Social sell, the company plans to sell around 250 units of its new five-acre residential project in Goa called Goa Paradise. The initiative is in line with the company’s target to generate over 30 percent of its overall sales online in the next five years.
  • Tata Housing started selling homes online in India in 2013 through its partnership with Google as part of The Great Shopping Festival. Currently, the company has sold around 2000 homes online in the last three years.

Union Government approved performance-linked payment for CIL officers

  • The Union Government on 14 October 2015 gave a green signal to payment of Performance Related Pay (PRP) to executives and non-unionised supervisors of Coal India Ltd (CIL) and its subsidiaries.
  • The recommendations of the Committee of Secretaries were approved by the Union Cabinet to regularise the 2007 Pay Revision implemented by CIL with effect from 1 January 2007 in the loss making subsidiaries.
  • The payment will be given out of the corpus created by pooling the profits of CIL subsidiary companies, duly setting off the losses of the loss making subsidiaries and stand-alone profits of CIL, excluding dividends received from its subsidiary companies.
  • However, it will be done with the condition that the corpus for payment of PRP should be treated as a yearly corpus with no provision for carrying it forward to subsequent years.

Dell Inc acquired EMC Corporation for 67 billion US dollars

  • Dell Inc and EMC Corporation on 12 October 2015 signed a definitive agreement under which Dell, together with its owners will acquire EMC Corporation, while maintaining VMware as a publicly-traded company.
  • This will the biggest tech deal in history with a 67 billion US dollars acquisition of EMC Corp by Dell. The owners of Dell include Michael S Dell, founder, chairman and CEO of Dell, MSD Partners and Silver Lake, the global leader in technology investing.
  • VMware Inc is a US company that provides cloud and virtualization software and services. It is a subsidiary of EMC Corporation.

India, Israel signed pacts on Double Taxation Avoidance & Cultural Exchange

  • India and Israel on 14 October 2015 signed two agreements to enhance bilateral cooperation. The agreements were inked after President Pranab Mukherjee, who was in Jerusalem on the final leg of his tri-nation tour to West Asia, held a meeting with his Israeli counterpart Reuven Rivlin.

The two agreements which were signed includes
  • A cultural exchange programme for 2015-2018
  • The amendment to the protocol on Double Taxation Avoidance Agreement

The pact on tax avoidance will help plug loopholes in tax evasion and ensure that the Indian or Israeli companies are taxed only where they have permanent establishments.
President Pranab Mukherjee's three-day historic visit to the Jewish state, the first by an Indian Head of State, was held between 13 October and 15 October 2015.

Union Cabinet approved MoU between ITA in Taipei and TECC in India

  • The Union Cabinet on 14 October 2015 approved the Memorandum of Understanding (MoU) between the India-Taipei Association (ITA) in Taipei and Taipei Economic and Cultural Center (TECC) in India. The memorandum was signed for the cooperation in the field of Micro, Small and Medium Enterprises (MSME).
  • The memorandum provides a structured framework and enabling environment to the MSME sector of the two parties to understand each other's strengths, markets, technologies, policies etc.
  • The MoU also includes an agreement between the two parties to enable their respective MSMEs to participate in each other's trade fairs/exhibitions and to exchange business delegations with the other party. The agreement will eventually help the parties understand the policy and explore markets so that joint ventures, tie-ups, technology transfer etc. could take place.

India –

DRDO Missile Complex renamed as Dr APJ Abdul Kalam Missile Complex

  • The country’s prestigious DRDO Missile Complex in Hyderabad was on 15 October 2015 renamed as Dr APJ Abdul Kalam Missile Complex by Defence Minister Manohar Parrikar during an event at Research Centre Imarat on the occasion of the 84th Birth Anniversary of Dr Kalam, the Missile Man.
  • Dr Kalam joined the Missile Complex, DRDO in 1982 and was a part of it for nearly two decades. The Missile Complex comprises Advanced Systems Laboratory (ASL), Defence Research and Development Laboratory (DRDL) and Research Centre Imarat (RCI), which are considered to be the brain child of Dr Kalam.

Portugal became the first European country to sign the MoU on establishment of Nalanda University

  • Portugal on 9 October 2015 became the first European country to sign the Memorandum of Understanding (MoU) on the establishment of Nalanda University.
  • The MoU was signed in New Delhi by Portuguese Ambassador to India Ana Martinho and Dr Jitendra Nath Misra, the Ambassador of India to Portugal.
  • With this, Portugal became the 17th country overall and the fourth outside the East Asia Summit to do so.

Uttar Pradesh Government launched mobile app mSehat for health workers

  • Uttar Pradesh government on 13 October 2015 launched the mobile app mSehat for health workers to record maternal and infant data in real-time.
  • The application was developed by Kellton Tech, a company that was selected as the technology partner for the initiative by State Innovations in Family Planning Services Agency (SIFPSA).
  • The application is aimed at improving the infant mortality rate outcomes.

Key Features of mSehat
  • mSehat is a cloud-hosted solution to facilitate remote access and enrolment from across the region through 2G-enabled mobile devices.
  • The recorded data will be stored in the cloud, which will act as the central repository.

India, US and Japan began five-day Malabar Exercise 2015

  • The Navies of India, United States and Japan on 14 October 2015 began the five-day Malabar exercise 2015 on the Eastern Coast in which several warships, aircraft carriers and fast attack submarine will be participating.
  • Malabar 2015 is a latest in the continuing series of exercises conducted to advance multi-national maritime relationships and mutual security issues. Generally, the United States and India annually hold naval drills to sharpen skills, but this year the fleet of aircraft carriers, destroyers and frigates conducting war games included a warship from Japan.
  • The Naval personnel of the three countries will participate in the event called Complex, High-end war-fighting exercise. During the exercise which includes both ashore and at-sea training, there would be knowledge sharing sessions as well.

Union Cabinet approved RCE for Kaladan Multi Modal Project in Myanmar

  • The Union Cabinet chaired by Prime Minister Narendra Modi on 14 October 2015 gave its approval for the Revised Cost Estimate (RCE) of 2904.04 crores rupees for the Kaladan Multi Modal Transit Transport Project in Myanmar.
  • Since the project is of political and strategic significance, it was decided to execute it through India's grant assistance to Myanmar.
  • The project will provide an alternate access route to the North-Eastern region of India and contribute towards the region's economic development. Being a key connectivity project, it will promote economic, commercial and strategic links between India and Myanmar.

Union Cabinet approved MoU with Mozambique for cooperation in renewable energy

  • The Union Government on 14 October 2015 approved a Memorandum of Understanding (MoU) between the Ministry of New and Renewable Energy, India and Mozambique.
  • The agreement was inked between the Ministry of New and Renewable Energy of the Government of India and the Ministry of Mineral Resources and Energy, Government of Mozambique in New Delhi on 5 August 2015.
  • The agreement aims at establishing a cooperative institutional relationship to encourage and promote technical bilateral cooperation, investment promotion and partnership on new and renewable energy issues on the basis of mutual benefit, equality and reciprocity.

Appointments –

Kundhavi Kadiresan appointed as FAO Assistant Director-General

  • An Indian national, Kundhavi Kadiresan was on 14 October 2015 appointed as the Assistant Director of the United Nations Food and Agriculture Organization (FAO) and Regional Representative for Asia and the Pacific. She was appointed at the post by FAO Director General José Graziano da Silva.
  • Kadiresan succeeded Hiroyuki Konuma who retired from FAO earlier in 2015.

Shruti Haasan, brand ambassador for Emami's Kesh King

  • Actress Shruti Haasan will be the new brand ambassador for FMCG Emami’s ayurvedic hair care brand, Kesh King. Shruti will be endorsing the Kesh King Ayurvedic Medicinal Oil specifically for the southern markets and the brand’s Aloe Vera Herbal Shampoo on a pan-India basis.
  • Actress Juhi Chawla, who is the current brand ambassador of Kesh King Ayurvedic Medicinal Oil, will continue as the national face of the product, Emami said as per a release.
  • The Kesh King brand was acquired by Emami in June 2015, marking the company’s foray into the ayurvedic hair & scalp care segment. The brand portfolio includes ayurvedic medicinal oil, herbal shampoo & conditioner and ayurvedic capsules.

Sports –

Zaheer Khan retires from international cricket

  • Fast bowler Zaheer Khan announced his retirement from international cricket on Thursday.
  • The 37-year-old pacer made the announcement on Thursday, ending his 14-year long international career. Zaheer made his India debut in 2000 and played his last game for India in 2014 at Wellington against New Zealand.
  • He has played 92 Tests (311 wickets), 200 ODIs (282 wickets) and 17 Twenty20 matches (17 wickets).
  • The left arm seamer made his Test debut against Bangladesh at Dhaka in 2000 and played his last Test against New Zealand at Basin Reserve in February 2014. He was part of the Indian team that won the 2011 World Cup at the Wankhede Stadium.
  • Zaheer was the joint highest wicket-taker in the 2011 World Cup along with Pakistan’s Shahid Afridi, claiming 21 wickets at 18.76.

Awards & Honors –

US university honoured Tibetan PM Sangay with Presidential Medal for promoting peace

  • Tibetan Prime Minister Lobsang Sangay on 14 October 2015 was awarded with the prestigious Presidential Medal by Salisbury University in Maryland, US for promoting peace and understanding.
  • PM Sangay dedicated the medal to the sufferings of the Tibetan people and the non-violent Tibetan movement to reinstate freedom and dignity inside Tibet.
  • Lobsang Sangay was born in Darjeeling, India in 1968. He became Sikyong (equivalent to Prime Minister) of the Tibetan Government-in-Exile on 8 August 2011. He obtained his BA (Hons) and LLB degrees from the University of Delhi in India. He obtained his LLM degree from the Harvard Law School in 1995.
  • He is also the recipient of the 2004 Yong K. Kim' 95 Prize of excellence for his dissertation Democracy in Distress: Is Exile Polity a Remedy? A Case Study of Tibet's Government-in-exile.

World –

China operationalised Zam Hydropower station on Brahmaputra River in Tibet

  • China on 13 October 2015 operationalised the Zam hydropower station on the Brahmaputra River in Tibet Autonomous Region (TAR). It is considered to be the highest-altitude hydropower station in the world.
  • While the first unit began operations in November 2014 itself, the present initiative connected the remaining five units to the power grid.

Features of Zam or Zangmu hydropower station
  • It was built on the river Brahmaputra that is also known as the river Yarlung Zangbo in Tibet.
  • It was built at a cost of 1.5 billion US dollars in Shannan Prefecture in the South East China.
  • It produces 2.5 billion kilowatt-hours of electricity a year.


Team ExamPundit


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