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Friday, October 23, 2015

Current Affairs Update – 23rd October, 2015

Hello and welcome to ExamPundit. Here are the Important Current Affairs Update of 23rd October, 2015. These are Important for the upcoming IBPS Clerk Exam.

Finance/RBI –

RBI issued direction on implementation of Gold Monetisation Scheme 2015

  • The Reserve Bank of India (RBI) on 22 October 2015 issued a Direction to all Scheduled Commercial Banks (excluding Regional Rural Banks) on implementation of the Gold Monetisation Scheme, 2015 notified by the Union Government.
  • The RBI issued the direction to banks in exercise of powers conferred on it under Section 35A of the Banking Regulation Act, 1949.
  • The GMS 2015 will replace the existing Gold Deposit Scheme, 1999.

Directions on implementation of GMS 2015
  • The deposits outstanding under the Gold Deposit Scheme will be allowed to run till maturity unless the depositors prematurely withdraw them.
  • Resident Indians (Individuals, HUF, Trusts including Mutual Funds/Exchange Traded Funds registered under SEBI (Mutual Fund) Regulations and Companies) can make deposits under the scheme.
  • The minimum deposit at any one time shall be raw gold (bars, coins, jewellery excluding stones and other metals) equivalent to 30 grams of gold of 995 fineness.
  • There is no maximum limit for deposit under the scheme.
  • The gold will be accepted at the Collection and Purity Testing Centres (CPTC) certified by Bureau of Indian Standards (BIS) and notified by the Central Government under the Scheme.
  • The deposit certificates will be issued by banks in equivalence of 995 fineness of gold.
  • The principal and interest of the deposit under the scheme will be denominated in gold.
  • The designated banks will accept gold deposits under the Short Term (1-3 years) Bank Deposit (STBD) as well as Medium (5-7 years) and Long (12-15 years) Term Government Deposit Schemes. While, STBD will be accepted by banks on their own account, but the latter will be on behalf of Union Government.

Paytm ties up with Bank of Maharashtra

  • Paytm, leading mobile payment and ecommerce platform has tied up with Bank of Maharashtra to offer mobile wallet top up facility through bank ATMs. This facility is aimed at helping Bank of Maharashtra’s customers having debit cards to top up their Paytm Wallet through any of the Bank’s 1800 ATMs. The facility will be expended to more banks in the future, company officials said.
  • “This first of its kind wallet top up feature through the Bank ATMs is bound to make transactions easier and more accessible to everyone and we see this as a significant step towards powering cash free transactions,” said Nitin Misra, Vice President, Paytm.
  • Bank of Maharashtra debit card users will now be able to make their mobile or utility bills payment, shop online at several destinations or pay for services such as cab fare and more, by topping up their Paytm mobile wallets through the bank’s ATM network.

KVG Bank, Karnataka govt sign MoU for lending to panchayats

  • Karnataka Vikas Grameena Bank (KVG Bank), a Dharward–based Regional Rural Bank (RRB) sponsored by Syndicate Bank, plans to lend 150 crore under the Rajiv Gandhi Chaitanya Yojane in Karnataka.
  • The bank recently entered into a memorandum of understanding (MoU) with the State Rural Development and Panchayat Raj Department along with Sanjivini, an NGO, for implementing the Rajiv Gandhi Chaitanya Yojane.
  • According Nukala, the scheme is targeted at unemployed youths aged between 18 years and 35 years, whose applications are to be routed through the gram panchayats. The panchayats in nine districts of north Karnataka have to select 40 youths each by conducting gram sabhas.
  • The bank, through its Vikas Janashakti scheme, has strengthened the rural credit delivery system by motivating people to take up income-generating activities by providing micro finance at the grassroot level.

India –

Prime Minister laid foundation stone of Shri Venkateswara Mobile & Electronics Manufacturing Hub

  • Prime Minister Narendra Modi on 22 October 2015 laid the foundation stone of Shri Venkateswara Mobile and Electronics Manufacturing Hub in Tirupati in Andhra Pradesh. The hub will be a dedicated mobile handset manufacturing facility.
  • The foundation stone of this mobile handset manufacturing facility was laid during PM's visit to Andhra Pradesh to lay the foundation stone for new Andhra Pradesh capital Amaravati.
  • Shri Venkateswara Mobile & Electronics Manufacturing Hub will create more than 10000 jobs within a year. The hub is expected to contribute at least 5 percent of all-India target of 15 lakh jobs by 2019.

Union Government cleared first batch of AMRUT projects for 89 cities worth 2786 crore rupees

  • The Union Ministry of Urban Development on 22 October 2015 gave its nod to the first batch of state level Action Plans under Atal Mission for Rejuvenation and Urban Transformation (AMRUT). The approved Action Plans have a total of 143 projects in 89 AMRUT cities in Andhra Pradesh, Gujarat and Rajasthan.
  • The State Annual Action Plans (SAAP) worth 2786.28 crore rupees were cleared by inter-ministerial Apex Committee of AMRUT for 89 cities in the three states.
  • It is for the first time that the Urban Development Ministry approved state level plans unlike the past practice of appraising and approving individual projects.
  • Gujarat proposed SAAP entailed an investment of 1204.42 crore rupees, Rajasthan entailed an investment of 919 crore rupees and Andhra Pradesh proposed an investment of 662.86 crore rupees.
  • Gujarat will take up sewerage projects in 25 AMRUT cities at a cost of 916 crore rupees and water supply schemes in 11 cities with an investment of 233.65 crore rupees.
  • Rajasthan will take up sewerage schemes in 6 cities at a cost of 555 crore rupees and water supply projects in 10 cities at a cost of 344 crore rupees.
  • Andhra Pradesh will focus on water supply in 26 AMRUT cities at a cost of 646.29 crore rupees and provision of green spaces and parks in 30 cities at a cost of 16.57 crore rupees.
  • Union Government will provide an assistance of 50 percent of project cost for cities with a population of up to 10 lakhs each and one third of project cost for cities with a population of above 10 lakhs each.

Awards & Honors –

Zimbabwean President Robert Mugabe awarded with 2015 Confucius Peace Prize

  • Zimbabwean President Robert Mugabe was on 22 October 2015 awarded with the 2015 Confucius Peace Prize by China for supposedly injecting fresh energy into the global quest for harmony. The Prize is dubbed as Chinese equivalent of the Nobel Peace Prize.
  • He was awarded for overcoming a number of difficulties and for contributing to building the government, economy and order in the country while continuing to work at the age of 91 actively for African peace.

Kashmiri Folk Singer Gets Sangeet Akademi Award

  • Kashmir's versatile folk singer Abdul Rashid Hafiz was today honoured with the Sangeet Natak Akademi award by President Pranab Mukherjee at a function here attended by some of the country's finest musicians, dancers and theatre artists.
  • The 61-year-old singer was among the 40 artists who received the 2014 Akademi awards from the hands of the President in the Durbar Hall of the Rashtrapati Bhawan for their contribution to music, dance, theatre, traditional and folk music, puppetry as well as scholarships in the performing arts.
  • The citation described Hafiz as the king of Kashmiri folk singing, who had represented his state in many prestigious festivals. A top grade artist of AIR and Doordarshan, he has also won other awards including one from the state government.
  • Hafiz said later that it was an honour not only to him but also a recognition of the best traditions of the Kashmiri music.
  • He is the third singer from the state to have won the prestigious award, the other two having been Raj Begum and Ali Mohammed Shaikh.

World –

Britain signed Strategic Investment Agreements for building three nuclear plants with China

  • Chinese President Xi Jinping and British Prime Minister David Cameron on 21 October 2015 signed Strategic Investment Agreements at a UK-China Business Summit at Mansion House in London during the official visit of Xi Jinping.
  • Under the agreement, China will help the UK in building three nuclear plants including Hinkley Point C nuclear plant, which will be the first since 1980s.
  • The deal was signed between China General Nuclear Power Corporation (CGN) and France’s EDF.

Sports –

First World Indigenous Games began in Brazil

  • First World Indigenous Games started in Brazil on 23 October 2015 in the northern Brazilian city of Palmas. The game will end on 31 October 2015.
  • The games are a multi-sport event involving indigenous athletes has around 2000 athletes participating from many indigenous ethnic groups and 30 countries like Ethiopia, Mongolia, Brazil, Australia, Russia, the Philippines, Ethiopia and New Zealand.
  • The participants on 22 October 2015 took part in a traditional fire lighting ceremony in Palmas's central square and danced at the ceremony in traditional outfits.

Appointments –

Jacques Kallis appointed as Head Coach of Kolkata Knight Riders

  • Former South African all-rounder Jacques Kallis was on 22 October 2015 appointed as the Head Coach of the Kolkata Knight Riders (KKR) team. He succeeds Trevor Bayliss, who was appointed as the Head Coach of England earlier in 2015.
  • Kallis will be assisted by another legend Pakistan’s Wasim Akram, who has been serving as the team’s Bowling Coach for the past few seasons.
  • Kallis has been a part of Kolkata Knight Riders team since 2011 when he was brought in as a player at a fee of 1.1 million US dollars. Prior joining KKR, he played for Royal Challengers Bangalore in the initial three editions of the Indian Premier League (IPL).

Obituaries –

Bollywood singer Labh Janjua died

  • Bollywood singer and songwriter Labh Janjua was found dead at his Mumbai residence on 22 October 2015. He was 56.
  • The singer was most famous for songs like Jee Karda from Akshay Kumar's Singh is Kinng, Dance Pe Chance from Rab Ne Bana Di Jodi, Soni De Nakhre from Partner and London Thumka from Queen, among others.
  • Janjua was also known for his Punjabi-bhangra style singing.


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