Current Affairs Update – 10th, 11th & 12th November, 2015

Hello and welcome to ExamPundit. Here are the Important Current Affairs of 10th, 11th and 12th November, 2015. These are Important for the upcoming IBPS Clerk exam as well as Other Banking Exams.

Finance –

Easier FDI norms: advantage realty cos, private banks

  • The changes in the foreign direct investment (FDI) policy will help listed companies in the real estate and construction sector.
  • Removing the caps on project size, giving greater flexibility in transfer of investments to other overseas investors and allowing investments in completed projects will attract more investments into this sector.
  • Merging the sub-limits for FPIs and foreign direct investment in private sector banks will help those banks that are close to hitting their FPI investment caps. They will now have higher head-room to woo foreign portfolio investors.
  • The earlier 20,000 sqm cap on minimum built-up area of projects in which FDI was allowed has now been removed.
  • There is also no minimum capitalisation requirement for projects. The capital requirement was reduced to $5 million in December 2014 from $10 million earlier. The removal of these caps will allow foreign investors to plough money into smaller projects as well. Earlier, exit was allowed only after three years of meeting minimum capitalisation; this, too, was relaxed last December.
  • Investors could also exit after completing basic infrastructure such as roads, water supply, street lighting, drainage and sewage, even if the lock-in period was not met. Now, the development has been broken into different phases and exits will be linked to meeting requirements in each phase.
  • Also, the lock-in for transfer of stake from one non-resident to another has been done away with.

India –

Telecom satellite GSAT-15 launched

  • GSAT-15, the nation's newest communications satellite, was launched in the wee hours of Wednesday from Kourou in French Guiana in South America.
  • The 3,164-kg spacecraft will replace the ageing Insat-3A and 4B spacecraft that are in the same orbital slot when they expire.
  • Its 24 transponders in the Ku-band will mainly cater to public and private direct-to-home broadcasters besides VSAT operators. (A majority of private operators use capacity leased on foreign spacecraft).
  • GSAT-15's lone GPS-augmentation or GAGAN transponder in the L1 and L5 bands will ensure back up for GPS-based satellite navigation across the region.
  • ISRO has chosen Arianespace to launch telecommunication satellites GSAT-17 and GSAT-18. The two satellites will be launched by Ariane 5 launch vehicles at the Guiana Space Centre, Europe’s spaceport in Kourou, French Guiana in 2016-2017.

Appointments –

Subir Gokarn appointed IMF Executive Director

  • Former RBI Deputy Governor Subir Gokarn was today appointed as an Executive Director on the board of the International Monetary Fund (IMF).
  • Gokarn will represent India, Bangladesh, Sri Lanka and Bhutan on the Washington—based IMF’s Executive Board, which is responsible for conducting the day—to—day business of the multilateral institution.
  • The name of 56—year—old economist was cleared by Appointments Committee of Cabinet headed by Prime Minister Narendra Modi, as per an order issued by the Department of Personnel and Training,.
  • On the IMF Executive Board, Gokarn will replace Rakesh Mohan, whose three year tenure ends this month. The order did not mention the tenure for Gokarn. Mohan has also been a Deputy Governor at RBI. The current RBI Governor Raghuram Rajan has incidentally been Chief Economist at IMF.

Justice AP Shah appointed as the Ethics Officer (Ombudsman) at BCCI

  • Former Chief Justice of Delhi High Court, Justice Ajit Prakash Shah, was on 9 November 2015 appointed as the ethics officer (ombudsman) at Board of Control for Cricket in India (BCCI). He will preside as the sole decision maker on all conflict of interest issues plaguing Indian cricket.
  • The decision to appoint an ombudsman was taken at the Board's 86th Annual General Meeting to end the problem on conflict of interest in the Board. This is being considered as a BCCI’s clean-up operation.
  • The clean-up operation has been triggered by the 2013 IPL spot-fixing scandal, which was investigated by the Supreme Court-appointed RM Lodha committee.

Sports –

Pakistan’s Younis Khan retires from ODI cricket

  • Pakistan’s veteran batsman Younis Khan has announced his retirement from one-day international cricket, saying the first day-night game against England here today will be his last match.
  • The national selectors had, in a surprise move, recalled Younis for the four-match ODI series against England after ignoring him for this format since the World Cup early this year in Australia and New Zealand.
  • The 37-year-old will be appearing in his 265th one-day international today, nearly 16 years after making his debut against Sri Lanka in Karachi in February 2000.
  • Going into his last match, Younis has scored 7,240 runs with seven hundreds and 48 half-centuries in one-dayers.
  • Since March 2013, Younis has been picked for only 11 ODIs, putting a big question mark on his future in the 50-over format.

Odisha's Barabati stadium excluded from BCCI's new Test venues

  • The Board of Control for Cricket in India (BCCI) on 9 November 2015 excluded Barabati stadium in Cuttack, Odisha from the list of newly declared Test venues.
  • Barabati Stadium was excluded from the list after Cricket fans hurled plastic bottled onto the ground forcing the match referees to stop the match for some time.
  • The bottles were thrown during India’s dismal batting display in the 2nd T20 International match against South Africa on 5 October 2015. The visitors had won the match.

Richard Proud-chaired Independent Commission on Doping in Sports submitted its report to WADA

  • Richard Proud-chaired Independent Commission (IC) on Doping in Sports submitted its report to the World Anti-Doping Agency (WADA). The report was submitted on 9 November 2015 in Vienna, Switzerland.
  • WADA launched the IC in December 2014 to investigate the validity of allegations of doping practices, corrupt practices around sample collection, results management, etc that implicate Russian Government agencies, labs, athletes, coaches among others.

Days –

World Science Day for Peace and Development 2015 observed

  • The World Science Day for Peace and Development, dubbed World Science Day, was observed on 10 November 2015 across the world. The theme for 2015 is Science for a Sustainable Future.
  • To mark the day, the United Nations Educational, Scientific and Cultural Organization (UNESCO) conducted several discussions, special campaigns, visits to science museums for school children, etc to raise awareness of benefits of science worldwide.
  • For 2015, the theme Science for a Sustainable Future is chosen against the backdrop of 2030 Agenda for Sustainable Development as approved by the UN.

World –

India re-elected to UN Commission on International Trade Law

  • India on 9 November 2015 was re-elected by the General Assembly to a six year term on the United Nations Commission on International Trade Law (UNCITRAL).
  • Apart from India, 22 other countries including the United States and Pakistan were also re-elected to the UNCITRAL.
  • The Monday election was the fifth election that India has won in 2015. The country also won the re-election to the UN Human Rights Council held in 2014.

Awards & Honors –

Indian-Origin Community Campaigner Awarded by British PM for Charity Work

  • A 46-year-old Indian-origin community campaigner in the UK has been named a "Point of Light" by British Prime Minister David Cameron for her "fantastic" charity work and empowering young people, including women.
  • Muna Chauhan was recognised for her work as a children's charity fundraiser and empowering hundreds of women and young people to get involved with their community as volunteers.
  • The award has been developed in partnership with the hugely successful Points of Light programme in the US. It honours outstanding examples of individual volunteering across the US and the UK.
  • Apart from encouraging others to volunteer, Chauhan has helped raise over 5 million pounds for various international development charities and NGOs.


Team ExamPundit


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