Current Affairs Update – 7-8 August, 2017

Hello and welcome to exampundit. Here are the Important Current Affairs of 7-8 August, 2017. These are very important for the upcoming IBPS PO, IBPS RRB, OICL AO, UIIC Assistant & NICL Assistant Exams.

Banking & Financial News

Equitas Small Finance Bank launches Selfe Fastags for toll payments

  • Equitas Small Finance Bank has launched a new product to enable account holders to acquire a RFID (Radio Frequency Identification) tag online.
  • Any person, who intends to acquire a RFID tag for his vehicle, can just log onto the bank's website and request for a tag by filling in some personal details and upload a copy of the vehicle's registration documents. After verification by the bank, the tag will be delivered at the customer's residence.
  • In collaboration with National Payments Corporation of India (NPCI), the newly-formed bank has also gone live with all the digital payments instruments offered by the banking system, starting from Unified Payments Interface, Bharat Bill Payments to Aadhaar-enabled Payments.

Amazon India, Telangana Handloom dept ink pact

  • Amazon India has signed a memorandum of understanding (MoU) with the Telangana Department of Handloom and Textiles, to educate, train and enable weavers and artisans to directly sell their products to Amazon customers across the country.
  • According to a statement issued by the e—commerce giant last night, with over 17,000 handlooms in the state, this association will further help elevate popular handloom products from clusters such as are Pochampally, Warangal, Gadwal, Narayanpet and Siddipet which have a tremendous potential and demand in urban areas.
  • Amazon India will not only provide an online marketplace for marketing but will also engage with weavers and artisans across the state to train them on making the products more attractive, appealing and marketable across the online domain.
  • The partnership also intends to empower and generate livelihood opportunities and income for the artisans and boost their economy, Amazon said.


Kotak Bank launches debit card offer for zero balance a/c

  • Private sector Kotak Mahindra Bank today said it will offer debit card at a special price of Rs 99 for the first year for customers who will open account under its zero balance account scheme till September 15.
  • The usual annual fee for debit card procured by 811 account holders (zero balance) is Rs 299. The name 811, inspired by November 8, 2016, decision of demonetisation, allows customers to open a zero balance account using the banks mobile application.
  • To mark the 70th anniversary of countrys independence, the special edition debit card will be available to customers who open an 811 account from August 8, 2017 to September 15, 2017, the bank said in a statement.

J&K government to spend Rs 1 lakh Cr on education and road connectivity

  • The state government of Jammu and Kashmir has announced that it would be spending around Rs 1 lakh Cr on development works with special emphasis on education and road connectivity over the next five years.
  • The information was shared by the Public Works Minister, Naeem Akhtar on 7 August 2017 while addressing a public meeting in Ramban, one of the 22 districts of the state.
  • Akhtar said that the state is set to enter an era of unprecedented development as the government is spending Rs 1 lakh Cr on roads, buildings and creation of other public assets in the next five years.
  • He also cleared that there is no scarcity of funds on part of the government.  In fact, he said that new projects are being taken up regularly whereas old ones are being completed with expedited urgency.


Dipak Misra is 45th Chief Justice of India, replaces J S Khehar on Aug 27

  • Dipak Misra, senior most judge of the Supreme Court, was today appointed as the next Chief Justice of India.
  • An official notification announcing 63-year-old Misra's appointment was issued by the Law Ministry this evening.
  • Misra will take over from incumbent J S Khehar, who will retire on August 27.
  • Justice Dipak Misra joined as an Advocate on February 14, 1977 and practiced in constitutional, civil, criminal, revenue, service and sales tax matters in the Orissa High Court and the Service Tribunal. He was selected as an Additional Judge of the Orissa High Court on January 17, 1996 and transferred to the Madhya Pradesh High Court on March 3, 1997.
  • He became permanent Judge on December 19, 1997. Justice Misra took charge of the office of Chief Justice, Patna High Court on December 23, 2009 and charge of the office of the Chief Justice of Delhi High Court on May 24, 2010.



National Handloom Day observed across India to promote welfare of weavers

  • The 3rd National Handloom Day was observed across India on 7 August 2017, in order to promote indigenous creations and honour the handloom weavers of the country.
  • The day mainly aims to highlight the contribution of handloom to the socioeconomic development of the country and promote handlooms to increase the income of weavers and also to bring their undying skill and hard work out in the limelight.
  • The Union Textiles Minister, Smriti Irani addressed a gathering at Ahmedabad to mark the occasion. Various programmes were held in universities, schools and other institutions as well.
  • The main function to celebrate the day this year was held at Guwahati and it was presided over by Union Minister of State, Textiles, Ajay Tamta. Speaking on the occasion, the Minister said that the Government of India was taking various initiatives for the welfare of handloom weavers. He continued saying that he personally not only appreciates but also salutes the handloom weavers for their commitment, dedication and skill.
Some initiatives taken by Government for welfare of weavers:

  • Hathkargha Samvardhan Sahayata Scheme: Under the scheme, the union government assists the weaver by bearing 90% of the cost of new looms.
  • MUDRA scheme: Under the scheme, the weavers can avail loans ranging from Rs 50,000 to Rs 10 lakh with no requirement for any security.
  • Besides this, the Ministry of Textiles has signed MoUs with Indira Gandhi National Open University (IGNOU) and National Institute of Open Schooling (NIOS) by which children of weavers shall be able to avail school and university education, with 75% of fees being borne by the Government of India.

News related to India & states

Union Government Centre declares entire Assam as 'disturbed' area under AFSPA for a month

  • The Union Government on 7 August 2017 declared entire Assam state as a disturbed area under the Armed Forces (Special Powers) Act (AFSPA) for one month. AFSPA was declared in the state after violent activities by insurgent groups ULFA, NDFB, and others.
  • In addition, the Home Ministry has also declared Meghalaya’s border areas adjoining Assam (20 km belt in Meghalaya) as disturbed under the AFSPA for two more months with effect from 3 August 2017 to 30 September 2017.
  • Besides, three districts Arunachal Pradesh, namely Tirap, Changlang and Longding, and areas falling within the jurisdiction of 14 police stations in nine other districts of the state were also as disturbed under the AFSPA for two more months with effect from 4 August 2017.
  • The 14 police stations fall under the districts of Papumpare, East Siang, West Siang, East Kameng, West Kameng, Lower Dibang Valley, Namsai, Lohit district, Lower Subansiri in Arunachal Pradesh.
  • Reports suggest that in 2016 there were 75 incidents of violence in Assam in which 33 people were killed and 14 others were abducted. This violence was perpetrated in Assam by insurgent groups.

Coconut regains tree status in Goa as Assembly passes bill

  • Goa Legislative Assembly on 7 August 2017 passed Goa, Daman and Diu, Preservation of Trees Act, 1984. The bill seeks to reclassify coconut as a tree and ensure legal protection to it.
  • The bill was passed to regulate felling of coconut trees and reclassify it as a tree on the last day of the Monsoon session of the state.
  • Goa Forward Party, a partner in the Manohar Parrikar-led government, had promised to reclassify coconut as a tree. The previous Laxmikant Parsekar-led government had changed the classification of the coconut tree to a palm.
  • The bill was needed as the previous BJP-led coalition government in Goa was accused of amending the Goa Daman and Diu Preservation of Trees act 1984 in 2016 and dropping the tree status accorded to the coconut tree. They accused that the action was taken to hasten real estate and industrial development at the cost of environment.
  • Green activists claimed that it would make it easy to cut down coconut trees indiscriminately in the coastal state as it would require no formal permission.


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