Current Affairs Update – 3 May, 2017

Hello and welcome to exampundit. Here are the important Current Affairs update of 3 May, 2017. These are important for the upcoming SBI PO Mains, NIACL Assistant Mains, BOB Manipal, NICL AO Mains and other exams in 2017 July and August.

Current Affairs at a Glance - 3 May, 2017
  1. The Cabinet on Wednesday approved a Rs 6,000 crore mega agro-processing scheme to streamline the ongoing initiatives by the government in the food processing sector. Targeted at being completed by 2019-20, the SAMPADA (Scheme for Agro-Marine Processing and Development of Agro-Processing Clusters), to be administered by the Ministry of Food Processing Industries will subsume a host of other schemes under the ministry.
  2. China-sponsored Asian Infrastructure Investment Bank today approved $160 million loan for a power project in Andhra Pradesh, the first credit from the bank for an Indian project.
  3. The National Green Tribunal announced on 3 May 2017 that anyone found dumping electronic waste (e-waste) on the banks of Ramganga River in Moradabad, Uttar Pradesh would be fined a sum of Rs one lakh as environment compensation.
  4. Reliance Defence and Engineering Limited (RDEL), controlled by Reliance Infrastructure (RInfra), on 2 May 2017 said it has received approval for exiting the corporate debt restructuring (CDR) scheme. The approval for exit plan of RDEL was granted by the consortium of lenders led by IDBI.
  5. The Union Ministry of Textiles is observing Swachhta Pakhwada from 1 May to 15 May 2017. It was inaugurated by the Ajay Tamta, Minister of State, Textiles, in Udyog Bhawan, New Delhi.
  6. Railways Ministry on 3 may 2017 announced to build the world's highest railway bridge over the Chenab river in Jammu and Kashmir in around two years from now. This railway bridge is expected to be 35 metres taller than the Eiffel Tower of Paris. The massive arch-shaped structure of bridge is already under constructed at a cost of around Rs 1100 crore in hostile terrain.
  7. Prime Minister Narendra Modi on 3 May 2017 inaugurated Patanjali Research Institute at Haridwar, Uttarakhand.
  8. Prakash Javadekar, Union Minister of Human Resource Development, on 2 May 2017 launched the Vidya Veerta Abhiyan in New Delhi. 
  9. Dubai has activated its visa-on- arrival facility for Indian nationals holding a valid US visa or a green card. The first Indian national to avail the new facility arrived in the city on 1 May 2017.
  10. Indian Army on 2 May 2017 successfully test fired Block-III version of BrahMos supersonic cruise missile in the Andaman & Nicobar Islands.
  11. Indian actress Priyanka Chopra will be attending a UNICEF’s fundraising event in South Africa on 6 May 2017 to highlight the challenges faced by children affected by violence there.
  12. World Press Freedom Day was observed worldwide on 3 May 2017 with the theme ‘Critical Minds for Critical Times: Media’s role in advancing peaceful, just and inclusive societies’.
  13. The World Asthma Day 2017 was observed across the world on 2 May 2017 with the theme 'Asthma: Better Air, Better Breathing'.
  14. Mallikarjun Kharge, leader of Congress in Lok Sabha, on 2 May 2017 was appointed as the Chairperson of the Public Accounts Committee (PAC) of the Parliament.



Financial and Banking News –

Rs. 6,000-cr mega agro-processing scheme SAMPAD approved by Cabinet


  • The Cabinet on Wednesday approved a Rs 6,000 crore mega agro-processing scheme to streamline the ongoing initiatives by the government in the food processing sector.
  • It also decided to restore the subsidy for states to ensure sale of 1 kg of sugar at a cheaper rate to the poorest of the poor, under the public distribution system (PDS).
  • Targeted at being completed by 2019-20, t he SAMPADA (Scheme for Agro-Marine Processing and Development of Agro-Processing Clusters), to be administered by the Ministry of Food Processing Industries will subsume a host of other schemes under the ministry.
  • These include the Mega Food Parks and Integrated Cold Chain schemes along with the those dealing with Value Addition, Infrastructure building, Food Safety and Quality Assurance, among others.
  • It is expected to leverage investment of Rs 31,400 crore and ensure the handling of 334 lakh million tonnes agro-produce valuing Rs 1,04,125 crore, a press release said.
  • It is also expected to benefit 20 lakh farmers and generate 5,30,500 direct and indirect employment in the country by the year 2019-20.

Andhra Pradesh gets $160 mn loan from AIIB for power project


  • China-sponsored Asian Infrastructure Investment Bank today approved $160 million loan for a power project in Andhra Pradesh, the first credit from the bank for an Indian project.
  • The Asian Infrastructure Investment Bank (AIIB), in which India is the second largest shareholder after China, has approved the project with the objective to strengthen the power transmission and distribution system in Andhra Pradesh, said a bank statement.
  • The '24x7 Power for All' project is part of Government of India's 'Power for All programme' that was launched in 2014 to provide an efficient, reliable and affordable electricity to all consumers across selected states within five years from the start of implementation.
  • The project is co-financed by the World Bank.
  • Andhra Pradesh is one of the first states selected for the roll out of the programme.

Cabinet approves new NPA policy to deal with stressed assets


  • The Union Cabinet, led by Prime Minister Narendra Modi, on Wednesday, has approved a new framework to deal with Rs 6 lakh crore worth of non-performing assets in the banking system, a formal announcement of which is expected to be made after President's ascent to few Ordinances.
  • The framework includes an ordinance to amend the Banking Regulations Act to give more teeth to the Reserve Bank of India and its oversight committees to act on behalf of banks while deciding on toxic assets.
  • The cabinet also approved a National Steel Policy that aims at giving preference to domestically manufactured iron and steel products for government's infrastructure projects, a move that would boost the sales of debt-laden companies.
  • It also decided to handover to three ITDC Hotels located in Madhya Pradesh, Assam and Rajasthan to the state government after the Centre exists its stake in them. The properties would now be redeveloped and used as per the state governments requirements.

Industries found illegally dumping e-waste near Ramganga River to pay Rs 1 lakh


  • The National Green Tribunal announced on 3 May 2017 that anyone found dumping electronic waste (e-waste) on the banks of Ramganga River in Moradabad, Uttar Pradesh would be fined a sum of Rs one lakh as environment compensation.
  • The decision was taken by a bench headed by NGT Chairperson Justice Swatanter Kumar. Explaining the move, the bench stated that it had been brought to their notice that huge quantity of hazardous e-waste generated from various industries in powder form was being disposed on the bank of the river and the same was duly verified by a joint inspection conducted by Central Pollution Control Board (CPCB).
  • The bench further added that the hazardous waste is highly polluted and contains heavy metal, which is injurious to both human health and environment.

RDEL gets approval to exit debt restructuring scheme


  • Reliance Defence and Engineering Limited (RDEL), controlled by Reliance Infrastructure (RInfra), on 2 May 2017 said it has received approval for exiting the corporate debt restructuring (CDR) scheme. The approval for exit plan of RDEL was granted by the consortium of lenders led by IDBI.
  • According to RDEL, it has received the approval from the CDR Empowered Group (CDR-EG) for exiting the scheme. The company in a statement said, "As part of the refinancing scheme approved by the lenders, the door-to-door tenure of RDEL's term loans stands extended to 18 years".
  • As per the refinancing scheme, approved by the lenders, the RDEL’s existing debt of about Rs 650 crore will be converted into equity shares at a price of Rs 59.35 per equity share.
  • The company in a statement pointed out that RDEL's shareholders had already approved the "issue of equity shares to lenders by conversion of debt”. The approval was granted at its extraordinary general meeting that was held on 20 March 2017.
  • The statement also said, "In line with the RBI approval, RInfra through its subsidiary has also increased its shareholding in RDEL to nearly 31 per cent".

Union Ministry of Textiles observes Swachhta Pakhwada throughout the country


  • The Union Ministry of Textiles is observing Swachhta Pakhwada from 1 May to 15 May 2017. It was inaugurated by the Ajay Tamta, Minister of State, Textiles, in Udyog Bhawan, New Delhi.
  • The aim of the fortnight-long observance of programmes is to spread the message of cleanliness.
  • The activities to be undertaken by the Union Ministry of Textiles during the Swachhta Pakhwada are:
  • Visit of Minister of State, Textiles to Powerloom Service Centres in Delhi/Haryana/Uttarakhand
  • Visit of Minister of State, Textiles to Silk Cluster in Haridwar for a special Swachhta drive
  • Seminar on the theme “Waste to Wealth” to be organized
  • Films on “Waste to Wealth” to be made by NIFT, and to be shown by all organizations
  • NIFT students to be promoted as volunteers to lead youth teams for Swachhta activities in all Weavers’ Service Centres

News related to India and states –

Railway Bridge taller than Eiffel Tower to be built over Chenab River


  • Railways Ministry on 3 may 2017 announced to build the world's highest railway bridge over the Chenab river in Jammu and Kashmir in around two years from now.
  • This railway bridge is expected to be 35 metres taller than the Eiffel Tower of Paris. The massive arch-shaped structure of bridge is already under constructed at a cost of around Rs 1100 crore in hostile terrain.
  • Designed to withstand wind speeds of up to 260 km per hour, the bridge will connect Bakkal (Katra) and Kauri (Srinagar).
  • The bridge forms a crucial link in the 111-km stretch between Katra and Banihal, which is part of the Udhampur- Srinagar-Baramulla rail link project.
  • The construction of this 1.315 km long highest bridge will require over 24000 tonnes of steel and will rise 359 m above the river bed.
  • The bridge will be made of 63mm thick special blast-proof steel as the Jammu and Kashmir region is prone to frequent terror attacks.

PM Narendra Modi inaugurates Patanjali Research Institute in Haridwar


  • Prime Minister Narendra Modi on 3 May 2017 inaugurated Patanjali Research Institute at Haridwar, Uttarakhand.
  • Patanjali Research Institute was established with an aim to globally establish the Vedic knowledge of Ayurveda of ancient India's saints and sages.
  • The Patanjali Research Foundation, a part of Patanjali Yogpeeth, was founded in August 2010.
  • The institute is named after the great Indian sage Patanjali who first compiled the numerous writings on yoga in a way which can be understood by people.
  • It will evaluate indigenous systems of medicine, particularly yoga and ayurveda.

Prakash Javadekar launches Vidya Veerta Abhiyan


  • Prakash Javadekar, Union Minister of Human Resource Development, on 2 May 2017 launched the Vidya Veerta Abhiyan in New Delhi. 
  • In addition, the minister also released a collage of photo portraits and book on Paramveer Chakra recipients. The portraits were presented to Vice-Chancellors of Jawaharlal Nehru University, Delhi University, Jamia Milia Islamia, Jammu and IIT Delhi, among others.
  • The idea of having a Wall of Valour in universities was first proposed by a group of ex-servicemen.
  • The demand came following anti-national slogans being allegedly raised in universities.
  • The move came after vice chancellors of all central universities decided to install the national flag "prominently and proudly" on their campuses in 2016.

Indians having US visa can now attain visa on arrival in Dubai


  • Dubai has activated its visa-on- arrival facility for Indian nationals holding a valid US visa or a green card. The first Indian national to avail the new facility arrived in the city on 1 May 2017.
  • The Indian national’s arrival was announced by Dubai’s General Directorate of Residency and Foreigners Affairs through a post that had the picture of the passenger on the department’s official Instagram handle.
  • The decision to grant Indian passport holders having either a valid US visa or green card a visa-on-arrival facility was approved by the UAE Cabinet in March 2017.
  • The facility was approved to be activated from 1 May. A circular regarding the same was given to all UAE borders points, including airports and ports.

Indian army successfully test fires Block-III version of BrahMos cruise missile


  • Indian Army on 2 May 2017 successfully test fired Block-III version of BrahMos supersonic cruise missile in the Andaman & Nicobar Islands.
  • The land-to-land configuration of BarahMos Block III version was launched from a Mobile Autonomous Launcher (MAL). This was fourth successive successful launch of the missile.
  • It was tested for its full-range in order to demonstrate the weapon’s unmatched lethality of hitting the centre of a designated target with ‘bull’s eye’ precision.
  • India is also set to conduct the maiden test of BrahMos supersonic cruise missile’s air version soon.

Awards & Honors –

Shabana Azmi starrer 'The Black Prince' awarded at film fest in Houston


  • Hollywood film 'The Black Prince', starring Indian actress Shabana Azmi and singer-poet Satinder Sartaaj, was on 3 May 2017 awarded the Special Jury Remi Award at the 50th annual WorldFest - Houston International Film Festival.
  • 'The Black Prince' is a historic biopic on the emotional life story of the last king of Punjab - Maharajah Duleep Singh and his fragile relationship with Queen Victoria, who was Godmother to his children. Maharajah Duleep Singh was also named as the Black Prince of Perthshire.
  • Satinder Sartaaj, who marks his acting debut with the film, essays the role of Maharajah Duleep Singh while Shabana Azmi portrays Rani Jindan, the exiled King's mother.

Priyanka Chopra to attend UNICEF gala to support violence-affected children


  • Indian actress Priyanka Chopra will be attending a UNICEF’s fundraising event in South Africa on 6 May 2017 to highlight the challenges faced by children affected by violence there.
  • Besides the Indian International icon, the event would also bring together some of the world’s biggest names in order to leverage their support to enhance the care and protection of children subjected to abuse, violence, neglect and exploitation.
  • UNICEF issued a statement on the occasion, which read that the visit of UNICEF's Goodwill Ambassador Priyanka Chopra to South Africa will highlight the challenges faced by the violence affected children there and it would also provide the body with a unique opportunity to profile their mandate and values that guide their daily work for each child in South Africa.
  • The main activities of the event would include a live auction, the proceeds from which would go to the child protection programmes of UNICEF South Africa and a fashion show by the country's most renowned Indian-origin designer Gavin Rajah.

Days –

World Press Freedom Day observed globally


  • World Press Freedom Day was observed worldwide on 3 May 2017 with the theme ‘Critical Minds for Critical Times: Media’s role in advancing peaceful, just and inclusive societies’.
  • Speaking on the occasion, UN Secretary-General António Guterres called for an end to all crackdowns against journalists, as a free press can advance peace and justice for all. He also stressed on the importance of having leaders who will defend the free media and counter the prevailing misinformation.
  • The day was commemorated with an event and the UNESCO/Guillermo Cano World Press Freedom Prize Ceremony, which was jointly organised by UNESCO and the Government of Indonesia along with the Press Council of Indonesia in Jakarta, Indonesia.

World Asthma Day 2017 observed globally


  • The World Asthma Day 2017 was observed across the world on 2 May 2017 with the theme 'Asthma: Better Air, Better Breathing'.
  • This year theme highlights the resurging environmental pollution and its hazardous impacts on health.
  • World Asthma Day is an annual event organized by the Global Initiative for Asthma (GINA) to improve asthma awareness and care around the world. The Day was established in the year 1998.
  • As per latest reports by World Health Organization, over 235 million people suffer from asthma across the globe.

Appointments –

Mallikarjun Kharge appointed as Chairman of Public Accounts Committee


  • Mallikarjun Kharge, leader of Congress in Lok Sabha, on 2 May 2017 was appointed as the Chairperson of the Public Accounts Committee (PAC) of the Parliament.
  • Kharge replaces his party's K.V. Thomas whose term has ended recently.
  • Apart from Kharge, the PAC has 14 members from Lok Sabha and seven from Rajya Sabha.
  • The members of the PAC from the Lok Sabha are Sudip Bandyopadhyay, Subhash Chandra Baheria, Prem Singh Chandumajra, Nishikant Dubey, Gajanan Chandrakant Kirtikar, Bhartruhari Mahtab, Riti Pathak, Neiphiu Rio, Abhishek Singh, Ram Shanker, Kirit Somaiya, Anurag Singh Thakur, Shivkumar C Udasi and P. Venugopal.
  • The members of the PAC from the Upper House in the panel are Naresh Agrawal, Satyavrat Chaturvedi, Bhubaneswar Kalita, Shantaram Naik, Sukhendu Sekhar Roy, Ajay Sancheti and Bhupender Yadav.

Sports –

Sunil Chhetri wins Hero of I-League 2016-17 Award


  • Bengaluru FC striker Sunil Chhetri on 2 May 2017 won the coveted Hero of the League 2016-17 Award.
  • Chhetri won the most number of votes cast by coaches and captains of the 10 teams, which took part in the I-League. The striker had scored seven goals for fourth-place finishers Bengaluru FC.
  • On the other hand, Khalid Jamil, who guided Aizawl FC to a historic title win, was chosen as the Coach of the Year. He was honoured with the Syed Abdul Rahim Best Coach Award.

Obituaries –

Famous climber Ueli Steck dies in a tragic accident near Mount Everest


  • One of the world’s most renowned climbers, Ueli Steck, died in an accident in Nepal near Mount Everest on 30 April 2017. He was 40.
  • Steck died after falling to the foot of Mount Nuptse, a smaller peak in the area. The accident happened when he was doing an acclimatizing climb for an attempt of the never-repeated Hornbein route on the West Ridge of Everest without supplemental oxygen.
  • Steck was planning to climb 8850-metre Mount Everest and nearby Mount Lhotse in May 2017.







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