Current Affairs Update – 1 to 3 July, 2017 - Exam Pundit - IBPS PO | Clerk | SBI PO | Insurance Exams | SSC Exams | Current Affairs


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Monday, July 03, 2017

Current Affairs Update – 1 to 3 July, 2017

Hello and welcome to exampundit. Here are the Important Current Affairs from 1 to 3 July, 2017. These are very important for the upcoming IBPS PO, IBPS RRB, NABARD Grade A & Other Exams.

We have moved the One Liner at a Glance Current Affairs to a separate page - click to visit

Banking & Financial News

Over 90% Indian customers still prefer branch over online banking: Oracle JD Power India 'Retail Banking Study’

  • A new report published on 3 July 2017 revealed that despite government has been pushing people to go online when it comes to banking; the branch still continues to dominate banking channels in India. It says that the about 94 per cent of retail banking customers having visited the branch/store at least once in the past 12 months.
  • According to the 2017 Oracle J.D. Power India 'Retail Banking Study', despite the impetus provided by demonetisation, digital banking is not yet a pervasive experience in India. "Most banking relationships still begin and continue at the branch.
  • However, there is great potential for banks to move more into the digital space.
  • Only 51 per cent of retail banking customers has a reliable online banking experience with their main financial institution," said Gordon Shields, senior director, J.D. Power, a US-based global marketing information services firm.
Basis of the findings
The results was based on in-person interviews with 5368 retail banking customers conducted between February and April 2017 across 14 states and included both private and public banks.
"In fact, overall customer satisfaction with banking in India is lagging significantly behind other key markets at 672 index points, compared to the industry average score reported in other J.D. Power studies in China (806), the USA (793) and Australia (748)," Shields added.

The study measured overall satisfaction in five factors, and they are:
a) Account activities (39 per cent)
b) Account information (18 per cent)
c) Facility (17 per cent)
d) Product offerings (14 per cent)
e) Fees (12 per cent)

While overall customer satisfaction with mobile banking is markedly higher (693) than with In-Person Branch interaction (676), only 9 per cent of India retail banking customers use mobile banking for everyday transactions. "Among the 48 per cent of customers who have yet to download a banking app, one-fourth state lack of security is a key reason for non-usage," Shields noted.

Nearly three-fourths (73 per cent) of customers believe their financial needs were not fully understood before they were offered new products, with only 7 per cent having had fees and pricing of products explained.

India's 3rd biggest commodity exchange created by merging NMCE and ICEX

  • National Multi Commodity Exchange (NMCE) will merge with Indian Commodity Exchange (ICEX) creating the country's third biggest commodity exchange, both the exchanges said in a statement on Monday.
  • ICEX will hold a 62.8 per cent stake in the merged entity, while NMCE shareholders will own the rest, they said. The merger has been approved by the boards of both exchanges and is expected to be completed by December, subject to regulatory approvals.


News related to India and states

G-Ride- a digital ride sharing platform launched in Kerala.

  • Kerala Chief Minister Pinarayi Vijayan launched G-Ride, a digital ride sharing platform designed and deployed for the IT industry by the Group of Technology Companies (GTech), the industry body of IT companies in the state.
  • The G-Ride app automatically matches co-workers and neighbours and help them travel together to work. It is available in Android and iOS versions.According to the Chief Minister, easing traffic, tackling parking woes, reducing fuel consumption, lowering pollution levels and providing convenient modes of transport are areas of high priority.It is available in android and iOS versions.

Madhya Pradesh sets new record by planting 6 Cr saplings in 12 hours

  • The Madhya Pradesh government undertook a massive plantation drive on 2 July 2017 to save the environment and for the conservation of the Narmada River. According to official sources, over six Cr saplings were planted in 24 districts of Narmada basin in just 12 hours.
  • The day-long campaign was launched by the state’s Chief Minister Shivraj Singh Chouhan, who performed puja and planted saplings at Amarkantak, river Narmada’s origin point. He also took part in plantation drives at Jabalpur and Omkareshwar.
  • Speaking on the occasion, Chouhan stated that now all the government programmes will begin with plantation in the state and Paudrakshaks will be deployed to look after these plants. He also called upon people to plant saplings on occasions like wedding, birthday and anniversaries.
  • Chouhan further said that while the world talks of global warming and climate change, Madhya Pradesh has taken a concrete step to deal with it. He said that the people of the state cannot imagine a life without the existence of river Narmada and so, they decided to plant trees on its banks.
  • The arrangement for three Cr saplings was done by the forest department, while the remaining three Cr were provided by other departments and private nurseries.
  • Children, youth, men and women, cutting across the barrier of religion and class participated in the noble cause.

India successfully test-fires short range surface-to-air missile QR-SAM

  • India on 3 July 2017 successfully test-fired indigenously developed quick reaction surface-to-air missile (QR-SAM) off the Odisha coast.
  • This short range missile with a strike range of 25 to 30 km was test fired from a truck-mounted canister launcher from the Integrated Test Range at Chandipur.
  • It was the second developmental trial of the state-of-the-art missile with an aerial target. The first developmental trial of the missile was carried out on 4 June 2017 from the same base.
  • Designed to be a quick reaction missile, it is capable of engaging multiple targets and involves an all-weather weapon system capable of tracking and firing.


Melwyn Rego is new CEO of Syndicate Bank

  • Melwyn Rego has assumed charge as Managing Director and Chief Executive Officer of Syndicate Bank. Prior to joining the bank, he was MD & CEO of Bank of India.
  • He has also held the position of Deputy Managing Director, IDBI Bank. He is a career banker and has been with IDBI Bank Ltd since 1984. Rego was deputed to IDBI Homefinance as Managing Director and CEO in September 2003 after IDBI took over Tata Homefinance. Rego returned to IDBI in January 2008 and took over as Head- International Banking Division to spearhead IDBI Bank's overseas initiatives.
  • Rego has extensive international experience and was a rank holder at a programme on International Capital Markets at Oxford University, UK. He has also participated in several seminars including those organized by Entrepreneurship Development Institute / World Bank at Washington.

AK Jyoti of Gujarat cadre will be next Chief Election Commissioner

  • Achal Kumar Jyoti, a 1975-batch Indian Administrative Service (IAS) officer of Gujarat cadre, will be the next Chief Election Commissioner (CEC) of India. Media reports suggest that Jyoti would take charge from incumbent Nasim Zaidi.
  • Zaidi is due to retire from his post on 6 July 2017.  He took over as the CEC on 19 April 2015.
  • Achal Kumar Jyoti is currently the Election Commissioner of India along with O P Rawat. He took over as the Election Commissioner of India in May 2017.
  • At present, he is the senior-most official in the Election Commission.
  • An EC or a CEC has a tenure of six years in office or till he or she attains the age of 65 years, whichever is earlier.

KK Venugopal appointed as Attorney General of India

  • Senior advocate and constitutional expert KK Venugopal was on 30 June 2017 appointed as the 15th Attorney General of India. His appointment was approved by President Pranab Mukherjee after his name was proposed by Prime Minister Narendra Modi.
  • Venugopal will succeed Mukul Rohatgi, who chose to return to private practice after a three-year term as the Attorney General of India, country's top law position.
  • He returns as a law officer after four decades. Earlier, in 1977, he had served as Additional Solicitor General.

RK Pachnanda took over as Director-General of Indo-Tibetan Border Police

  • Former Calcutta Police Commissioner RK Pachnanda on 30 June 2017 took over as the Director-General of the Indo-Tibetan Border Police (ITBP). He was handed over the baton of the about 90000 mountain warfare-trained force by outgoing Director General Krishna Chaudhary.
  • He is a 1983 batch IPS officer of Bengal cadre. Presently, he is also serving as the Director General of the National Disaster Response Force (NDRF). He will continue to hold this position until his successor is appointed.
  • Pachnanda owns the rare distinction of serving in all the major central paramilitary forces and organisations including the CRPF, the CISF, the BSF, the Special Protection Group (SPG), the CBI and the NDRF.
  • He also took charge of the paramilitary force in the backdrop of a face-off between Indian and Chinese troops on the border in Sikkim.

Carrie Lam Cheng Yuet-ngor sworn in as Chief Executive of Hong Kong

  • Carrie Lam Cheng Yuet-ngor was on 1 July 2017 sworn in as the Chief Executive of the Hong Kong Special Administrative Region (HKSAR). Lam took her oath before President Xi Jinping, who oversaw the swearing-in ceremony.
  • With this, Lam became Hong Kong's fifth Chief Executive since 1997 and the first female to hold the post. Lam and her Cabinet swore to serve China and Hong Kong and to uphold the Basic Law, the territory's mini-constitution. The Members of the Executive Council of the HKSAR were sworn in by Lam thereafter.
  • As a Chief Executive of Hong Kong, Lam is expected to unify the Chinese-ruled city as public resentment swells at Beijing's growing interference in its affairs despite being promised a high degree of autonomy.

World News

German Parliament approves same-sex marriage

  • The Parliament of Germany in June 2017 voted by a wide margin to legalise same-sex marriage.
  • The parliament voted by 393 to 226 on 30 June 2017 in favour of same-sex marriage.
  • The decision came after Chancellor Angela Merkel changed her mind and stated that members of her ruling conservative bloc should follow their personal conscience rather than the party line.
  • The legislation allowing same-sex marriage in Germany passed the Bundestag on 30 June 2017 and is expected to go into effect in late 2017.
  • The reform gives full marital rights for same-sex couples and allows them to adopt children.

Scientists develop world's sharpest laser with a linewidth of only 10 mHz

  • A team of scientists have developed the world’s sharpest laser costing 44 million euros. Named as 'Super Laser', it is 10 times more powerful than any other on the planet and has the potential to revolutionize engineering in aeronautics, power and automotive industries.
  • The Physical Review Letters journal published about the development of Super Laser on 29 June 2017.
  • This laser was developed within the scope of a nearly 10-year-long joint project with researchers from Physikalisch Technische Bundesanstalt (PTB) and JILA, a joint institute of the National Institute of Standards and Technology and the University of Colorado Boulder in the US.
  • The new laser is now being used both at PTB and at JILA in Boulder to further improve the quality of optical atomic clocks and to carry out new precision measurements on ultracold atoms.

Germany to impose €50 million fine on Facebook and Twitter over hate speech

  • Germany has passed a controversial law under which social media platforms such as Facebook, Twitter and YouTube could face a hefty fine of €50 million if they fail to remove hate speech within 24 hours.
  • The Network Enforcement Act, commonly referred to as the ‘Facebook law’, was passed by Germany’s parliamentary body, Bundestag on 30 June 2017. It will come into effect in October. The move is a part of a crackdown against abuse online.
  • The law would require the social media giants to find and delete posts containing ‘evidently unlawful’ abusive material including hate speech, defamation and incitements to violence within 24 hours.
  • It also mandates one week’s time to the web companies to decide on cases that aren’t a clear cut violation of law but yet contain hateful material.
  • Failure do so would result in an initial fine of €5 million that could rise to about €50 million.

999: The world's oldest emergency services phone number marks 80th anniversary

  • The world’s oldest emergency helpline number 999 on 2 July 2017 completed 80 years of its services in the United Kingdom. The introduction of the world's first emergency call telephone number was celebrated by the police forces across Britain.
  • Now, 999 number is the best known phone number in Britain to alert police, fire, ambulance and coastguards to emergencies.
  • The last eight decades saw the expansion of the emergency service from over 1000 calls in the first week of operation in London in 1937 to around 560000 calls a week now, making for around 30 million calls a year.
  • In the early days of its launch, just 24 staff in the old Victoria Embankment headquarters of the Metropolitan Police dealt with around hundred calls a day.
  • Now, there are three centralised communication complexes in Bow, Hendon and Lambeth that employ over 2000 people dealing with 13000 to 20000 calls per day.

President Bashar Assad appears on Syrian Lira for first time

  • The Syrian Central Bank on 2 July 2017 put into circulation a new 2,000 Syrian Lira ($3.9) banknote that has the face of country’s current President Bashar Assad.
  • This is the first time that President Bashar Assad is being depicted on the country’s currency since he took office 17 years ago. The move comes at a time when Assad’s government is boasting military successes against the armed rebellion occurring across the country.
  • The country’s currency previously only carried images of historic icons or pictures of Assad’s father, Hafez Assad.
  • Speaking on the development, the Syrian Central Bank Governor Duraid Durgham said that the notes were printed years ago but the decision to put them into circulation was delayed "due to the circumstances of the war and exchange rate fluctuations". He added that they were released now due to wear and tear of the existing notes.


International Day of Cooperatives 2017 observed

  • The International Day of Cooperatives 2017 was observed across the world on 1 July 2017.
  • The theme for the 2017 International Day of Cooperatives is Co-operatives ensure no-one is left behind. The theme for the year complements the priority theme of the 2017 High-level Political Forum for Sustainable Development: ‘Eradicating poverty and promoting prosperity in a changing world’.
  • As per the United Nations, co-operatives' open membership model affords access to wealth creation and poverty elimination. This results from the co-operative principle of members' economic participation: 'Members contribute equitably to, and democratically control, the capital of their co-operative.'

Sports News

Novak Djokovic clinches Eastbourne International Men’s Singles title

  • Serbian tennis player Novak Djokovic on 1 July 2017 defeated France's Gael Monfils to clinch the Eastbourne International Men’s Singles title.
  • The top-seeded Serb defeated Monfils 6-3, 6-4 in an hour and 16 minutes.
  • Djokovic won the title ahead of Wimbledon, which started on 3 July 2017.
  • Karolína Plíšková is the winner of the Women’s Singles title.

Karolina Pliskova wins Eastbourne International Women’s Singles title

  • Czech tennis player Karolina Pliskova on 1 July 2017 defeated Danish Caroline Wozniacki in straight sets to win the Eastbourne International Women’s Singles title.
  • Pliskova scripted a 6-4, 6-4 victory over Wozniacki in just one hour and 18 minutes.
  • The win at the United Kingdom's Eastbourne tournament is Pliskova's ninth career title.
  • Novak Djokovic is the winner of the Men’s Singles title.

Germany beats Chile to win 2017 FIFA Confederations Cup

  • Germany on 2 July 2017 defeated Chile 1-0 in the final to clinch the 2017 FIFA Confederations Cup.
  • With the win, Germany took home their first Confederations Cup.
  • The tournament was held in Russia as a prelude to the 2018 FIFA World Cup.
  • The defending champions, Brazil, who won the previous three Confederation Cups, failed to qualify for the first time since 1995 following their loss on penalties to Paraguay in the quarter-finals of the 2015 Copa América.

Awards & Honors

Writer Preeti Shenoy bags Indian of the Year Award

  • Writer Preeti Shenoy in the last week of June 2017 was honoured with the Indian of the Year Award at a function organised in New Delhi.
  • Shenoy was awarded by Brands Academy, one of the most reputed branding companies in India.
  • The Award is given to recognise the achievements of personalities who have contributed towards building up the reputation of the country.
  • She is also a self-taught artist who paints with water colours and oils, and also works with mixed media.
  • A few of her famous books are It's All in the Planets, Life Is What You Make It, It Happens For A Reason, among others.

Telangana IPS Officer Mahesh Bhagwat conferred 2017 Trafficking in Persons Report Heroes Award

  • An IPS officer from Telangana, Mahesh Muralidhar Bhagwat, who currently serves as Rachakonda Police Commissioner, was recently conferred the 2017 Trafficking in Persons (TIP) Report Heroes Award by the US State Department.
  • The IPS officer was recognised for his vital role in elevating human trafficking as a government priority, and his innovative approach to investigating cases and dismantling trafficking.
  • With this, Bhagwat became the third IPS officer to receive the honour.
  • Bhagwat joins seven other individuals from around the world who were recognised for their efforts despite resistance, opposition and threats to their lives to protect victims, punish offenders and raise awareness of ongoing criminal practices in their countries and abroad.

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