Current Affairs Update – 10-11 October, 2017


Hello and welcome to exampundit. Here are the Important Current Affairs of 10 & 11 October, 2017. These are very important for the upcoming IBPS PO, IBPS RRB, OICL AO, UIIC Assistant & NICL Assistant Exams.



Banking & Financial News

RBI to soon launch financial literacy drive in 9 states


  • The Reserve Bank of India (RBI) has decided to launch a financial literacy drive in 80 blocks in 9 states on a pilot basis to educate people on e-transactions, formal sector borrowings and insurance purchases.
  • The pilot project will be commissioned in 9 states including Maharashtra, Chhattisgarh, Bihar, Odisha, Karnataka, Telangana, Andhra Pradesh, Haryana and Uttar Pradesh.
  • Six non-governmental organisations registered with the Depositor Education and Awareness Fund have been selected to execute the pilot project in collaboration with banks.
  • The NGOs include CRISIL Foundation, Dhan Foundation, Swadhaar Fin Access, Indian School of Micro Finance for Women (ISMW), Samarpit and the PACE Foundation.
  • The total cost of the project over a period of three years would be around Rs 18.40 Cr.
  • The main aim of the literacy drive is to infuse the habit of making a household budget and recording financial transactions, encourage transactions in savings accounts, and active saving by depositing in banks through fixed deposits and recurring deposits.
  • The project also aims to ensure people borrow from formal finance institutions and approach banking Ombudsman for redressal of their grievances.
  • It also aims to encourage e-transactions through electronic means such as NEFT, RTGS, IMPS, Internet Banking, Mobile Banking and UPI (Unified Payment Interface).
  • The NGO will be educating people to buy life insurance and pension products.
  • The Reserve Bank is initiating a pilot project on financial literacy at the block level to explore innovative and participatory approaches to financial literacy.

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Centre imposes anti-dumping duty on imports of steel wire rods from China


  • The Union Finance Ministry has imposed anti-dumping duty on imports of certain steel wire rods from China for a period of five years.
  • The decision has been taken to guard the interest of domestic players from cheap in-bound shipments.
  • The duty was imposed after the Commerce Ministry's Directorate General of Anti-Dumping and Allied Duties (DGAD) recommended duty on such imports.
  • In its findings, the DGAD had concluded that the wire rod of alloy or non-alloy steel has been exported to India below the normal value due to which domestic industry has suffered material injury.
  • India has already slapped anti-dumping duty on certain cold-rolled flat steel products from four nations including China and South Korea.

Gujarat Government to set up 16 new townships to encourage SMEs growth


  • Gujarat Government would be setting up 16 new Gujarat Industrial Development Corporation (GIDC) townships in 2400 hectare area to encourage the Small and Medium Enterprises (SMEs).
  • The same was announced by the state’s Chief Minister Vijay Rupani in a press conference at Gandhinagar on 11 October 2017.
  • The township is expected to attract around 15,000 industrial units.
  • It is also expected to result in the growth of SMEs, especially in remote locations.
  • The combined area of industrial estates across 16 locations will be around 2400 hectares.
  • The estates are expected to generate employment for around 100,000 people.
  • Besides this, the state government has announced a new policy- Garments & Apparel Policy 2017, which will create job opportunities in garmenting among small units.
  • The policy is also expected to bring in investments worth over Rs 20000 Cr.

NMCG approves 8 Projects worth over Rs 700 Cr under Namami Gange Programme


  • The National Mission for Clean Ganga has approved eight projects worth Rs 700 Cr under Namami Gange Programme.
  • Among the 8 projects, four relate to sewage management in three Ganga basin states- Uttar Pradesh, Bihar and West Bengal, three relate to treatment of drains through bio-remediation and one relates to inventorization and surveillance of river Ganga.
Sewage Management Projects

  • Project for pollution abatement in river Ganga at Bally in West Bengal. It has been approved at an estimated cost of Rs 200.07 Cr. It would include construction of a 40 MLD STP under Hybrid Annuity based PPP model among other works.
  • The construction of a 65 MLD STP under Hybrid Annuity model has been approved for Bhagalpur in Bihar at an estimated cost of Rs 268.49 Cr.
  • In Uttar Pradesh, sewage treatment related works at an estimated cost of Rs 213.62 Cr have been approved that includes construction of two STPs (28 MLD + 05 MLD) in Farrukabad and one 2 MLD STP at Bargadiya drain in Fatehpur.
  • Pollution abatement works for river Ganga like interception, diversion and treatment of sewage in Bithoor have also been approved at an estimated cost of Rs 13.40 Cr.
  • The estimated cost of projects related to treatment of drains using bio-remediation technology is around Rs 4.29 Cr. These are for Rajapur drain and Digha drain in Patna and Laksar drain in Haridwar.
  • The last project, which relates to pollution inventorization, assessment and surveillance on river Ganga, has been approved at an estimated cost of Rs 42.9 Cr. It aims to mainly strengthen environmental regulation and water quality monitoring through river Ganga.

MoRTH to implement new programme to promote new technologies in highway projects


  • The Ministry of Road, Transport and Highways has decided to implement a Value Engineering Programme to promote new technologies and material in highway projects.
  • The programme will be executed under PPP mode or public funding mode.
Key Objective

  • To use innovative technology, materials and equipment to reduce the cost of projects and make them more environment friendly.
  • To ensure that the roads or bridges and other assets get constructed much faster, are structurally stronger and more durable.
After its implementation, the programme is expected to:
- increase speed of construction
- reduce construction cost
- increase asset durability
- improve aesthetics and safety
Besides this, the Ministry has also reconstituted a nine-member expert panel -National Panel of Experts (NPE), which was constituted in 2016, for approving proposals for use of new technologies, material and equipment.
Composition of the panel

  • Chairman - SR Tambe, former Secretary, PWD Maharashtra
  • Co-Chairman - Prof Ravi Sinha, IIT Mumbai
  • Members - Prof. A Veeraraghavan, IIT Chennai, Dr. Sunil Bose, Deputy Director CRRI, Prof. Prof. K.S. Reddy, IIT Kharagpur, S.K. Dharmadhikari, Dr. Prakash W. Kaskhedikar

News related to India & states

Supreme Court bans sale of firecrackers in Delhi-NCR till 1 November 2017


  • The Supreme Court on 9 October 2017 banned the sale of firecrackers in Delhi and NCR till 1 November 2017. The decision was taken to find out whether there will be a positive effect of this ban particularly during Diwali period on the health of citizens and a steadily deteriorating air quality.
  • The ruling was made by a bench of Justices AK Sikri, AM Sapre and Ashok Bhushan.
  • Burning of these firecrackers during Diwali in 2016 had led to immense increase in particulate matter levels by three times, making Delhi the worst city in the world, as air pollution is concerned.

Rajasthan becomes 1st state to incorporate skill development programme in higher education


  • Rajasthan has become the first state to incorporate skill development programme in the higher education.
  • The programme was launched by the state’s Higher Education Minister Kiran Maheshwari and Vice Chancellor of IGNOU Prof Ravindra Kumar on 10 October 2017 in Jaipur.
  • The state’s Department of College Education in collaboration with IGNOU has prepared 16 courses for entrepreneurship and skill development for colleges in the state.
  • Under the project, 12 certificates and 4 diploma courses will be run and each college will be required to choose five courses.
  • 94 colleges have already joined the project and 5656 students have registered themselves in it.
  • The practical training of the students pursuing the skill development courses will be done in different government departments.

UP Cabinet approves digitalisation of land maps


  • The state cabinet of Uttar Pradesh on 9 October 2017 approved digitalisation of land maps in 70 districts of the state.
  • The information was shared by the state’s Power Minister Shrikant Sharma who said that this move was necessary as the land maps were in a very bad condition and needed proper preservation.
  • The Cabinet meeting was chaired by the state’s Chief Minister Yogi Adityanath.
  • Speaking on the occasion, Sharma said that an amount worth Rs 5.21 Cr has been made available for the digitisation work. On completion of the work, the maps will be made available online.
  • The main aim of the move is to help check malpractices in a big way. The development will be a great help to the farmers and others in the state.

The 3rd International Conference on Yoga underway in Delhi


  • The third International Conference on Yoga was inaugurated in New Delhi on 10 October 2017 by Indian Vice President, M Venkaiah Naidu. The theme of the conference this year is ‘Yoga for Wellness.’
  • The two-day conference is being organized by Ministry of AYUSH as a part of commemorating the celebration of 21 June as International Day of Yoga declared by the United Nations. While the inaugural function was presided over by Minister of State for AYUSH Shripad Yesso Naik, Union Minister Nitin Gadkari was the chief guest.
  • The event would see participation from over 500 delegates, from 44 countries across the world.
  • It would have six technical sessions with yoga focused deliberations by experts.
  • It would be followed by a panel discussion between 16 interdisciplinary experts from prominent scientific institutions.
  • The key areas of deliberations would include Yoga research in non-communicable diseases and scope of Yoga in integrated medicine, control of cancer, depression, gynaecological disorders and pain management.

Maharashtra cabinet approves climate change adaptation policy


  • The state cabinet of Maharashtra on 10 October 2017 approved a climate change adaptation policy that will focus on developing environment-friendly villages and cities.
  • According to a statement issued by the Chief Minister's office, a special cell under the state Environment department will be set up for the effective implementation of the policy.
  • The main aim of the policy would be to develop environment-friendly villages and cities.

Assam CM to inaugurate Pradhan Mantri Ujjwala Yojana in Silchar


  • The Chief Minister of Assam, Sarbananda Sonowal would be inaugurating the Pradhan Mantri Ujjwala Yojana in the state’s Silchar district on 11 October 2017.
  • The Minister, who is on a two-day visit to Cachar, will also take part in various programmes. He would also be attending a meeting of the district administration officials and police personnel of the three districts of Barak Valley and interact with the intellectual fraternity on Namami Barak festival.
  • He will also attend the Gunotsav programme at the DNNK School and lay the foundation stone of an Rs 61 Cr road repair project at VIP Road at Udharbondh that will connect the city to the airport.

Appointments

Veteran actor Anupam Kher appointed as Chief of FTII


  • Anupam Kher on 11 October 2017 took charge as the Chief of Film and Television Institute of India (FTII), Pune.
  • Kher succeeds Gajendra Chauhan, whose appointment as FTII Chairman triggered massive student protests. Chauhan's term ended in March 2017. He was appointed as FTII chairman on 9 June 2015. Many FTII students had protested against his appointment claiming that Chauhan was unfit for the job.
  • He has been a proud recipient of the Padma Shri in 2004 and the Padma Bhushan in 2016 for his contribution in Cinema.
  • He chairs acting school ‘Actor Prepares’.
  • Established in 1960, FTII is considered as a premier institute for training in Cinema and Television. It boasts of notable alumni such as Naseeruddin Shah, Shabana Azmi, Om Puri, Jaya Bachchan, among others.

Nisha Desai Biswal appointed as President of US-India Business Council


  • Nisha Desai Biswal was on 10 October 2017 appointed as the President of the US-India Business Council (USIBC).
  • The US-India Business Council is the premier business advocacy organization that was formed in 1975 at the request of the US and Indian governments. It is the largest bilateral trade association in the United States and has presence in New York, Silicon Valley and New Delhi.

Jagdish Mukhi sworn in as new Governor of Assam


  • Veteran leader, Jagdish Mukhi was sworn in as the new Governor of Assam on 10 October 2017.
  • He was administered the oath of office by Gauhati High Court Chief Justice Ajit Singh at a function in the Srimanta Sankardeva International Convention Centre in Guwahati. The swearing-in ceremony also saw in attendance the state’s Chief Minister, Sarbananda Sonowal and other senior officials.
  • In his new position, Mukhi succeeded Banwarilal Purohit who has been appointed as the Governor of Tamil Nadu.

Resignations

D Shivakumar quits as CEO of PepsiCo India


  • PepsiCo India Chairman and CEO, D Shivakumar resigned from office on 10 October 2017. He will be succeeded by Ahmed El Sheikh who is currently serving as senior vice-president and general manager for PepsiCo Egypt and Jordan.
  • D Shivakumar served for almost four years with the beverage maker, overseeing the company’s operation across India, Bangladesh, Nepal, Bhutan, Sri Lanka and Maldives.
  • Shivakumar will quit PepsiCo on 31 December. He is expected to join Aditya Birla Group as Head, Corporate Strategy and Business Development in three months and will report directly to Group Chairman Kumar Mangalam Birla.

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Facebook India MD Umang Bedi steps down


  • In just over 15 months of joining Facebook as India MD, Umang Bedi has resigned from his position at the social networking giant.
  • Sources close to Bedi said he may be starting a venture on his own. Sandeep Bhushan has been appointed as the interim Managing Director. Bhushan was earlier with Samsung as IT and mobile business director. He currently handles the new revenue streams from FMCG advertisers for Facebook.
  • Facebook had roped in Bedi as its Managing Director, India from Adobe where he served as Managing Director of the South Asia region. He had taken over from Kirthiga Reddy, who returned to the US to take on a new role at the company’s headquarters at Menlo Park.
  • Bedi joined Facebook at a time when the social networking giant was embroiled in a controversy around its Free Basic initiative, which offered free connectivity to select internet services in several parts of the country. Facebook was forced to drop the initiative after howls of protest.

Awards & Honors

Rainer Weiss, Barry C. Barish and Kip S. Thorne awarded with 2017 Nobel Prize in Physics


  • The Royal Swedish Academy of Sciences on 3 October 2017 awarded the Nobel Prize in Physics 2017 with one half to Rainer Weiss of LIGO/VIRGO Collaboration and the other half jointly to Barry C. Barish and Kip S. Thorne of LIGO/VIRGO Collaboration.
  • They were awarded for decisive contributions to the LIGO detector and the observation of gravitational waves.
  • The universe's gravitational waves were first observed on 14 September 2015. These waves were predicted by Albert Einstein a hundred years ago. These waves came from a collision between two black holes. It took 1.3 billion years for the waves to arrive at the LIGO detector in the USA.
  • Gravitational waves are an entirely new way of observing the most violent events in space and testing the limits of knowledge. The Gravitational waves spread at the speed of light, filling the universe, as Albert Einstein described in his general theory of relativity.
  • LIGO (Laser Interferometer Gravitational-Wave Observatory) is a collaborative project with over 1000 researchers from more than twenty countries.
  • The LIGO project's achievement was using a pair of gigantic laser interferometers to measure a change thousands of times smaller than an atomic nucleus, as the gravitational wave passed the Earth.

Jacques Dubochet, Joachim Frank, Richard Henderson awarded with 2017 Nobel Prize in Chemistry


  • The Royal Swedish Academy of Sciences on 4 October 2017 awarded the 2017 Nobel Prize in Chemistry jointly to Jacques Dubochet, Joachim Frank and Richard Henderson for developing cryo-electron microscopy for the high-resolution structure determination of biomolecules in solution.
  • Through Cryo-electron microscopy, researchers can now freeze biomolecules mid-movement and visualise processes they have never previously seen, which is crucial for the basic understanding of life’s chemistry and for the development of pharmaceuticals.
  • Earlier, electron microscopes were long believed to only be suitable for imaging dead matter, but in 1990, Richard Henderson of MRC Laboratory of Molecular Biology, Cambridge succeeded in using an electron microscope to generate a three-dimensional image of a protein at atomic resolution.
  • Joachim Frank of Columbia University, USA developed an image processing method in which the electron microscopes fuzzy two dimensional images are analysed and merged to reveal a sharp three-dimensional structure.
  • While, Jacques Dubochet of University of Lausanne, Switzerland added water to electron microscopy. Liquid water evaporates in the electron microscope's vacuum, which makes the biomolecules collapse.
  • Following these discoveries, the desired atomic resolution was reached in 2013 and researchers can now routinely produce three-dimensional structures of biomolecules.

Nobel Prize in Physiology or Medicine


  • The 2017 prize was awarded jointly to (L-R) Jeffrey C. Hall (University of Maine), Michael Rosbash (Brandeis University) and Michael W. Young (Rockefeller University) "for their discoveries of molecular mechanisms controlling the circadian rhythm".
  • The award celebrates the study of the tiny biological clocks in every living thing. The three American scientists “were able to peek inside our biological clock and elucidate its inner workings,” the Nobel Prize Committee said. “Their discoveries explain how plants, animals, and humans adapt their biological rhythm so that it is synchronized with the

Kazuo Ishiguro awarded with 2017 Nobel Prize in Literature


  • The Nobel Prize in Literature 2017 was awarded to English author Kazuo Ishiguro on 5 October 2017 for uncovering the abyss beneath the illusory sense of connection with the world in his novels of great emotional force.
  • Kazuo Ishiguro has been a full-time author ever since his first book A Pale View of Hills that was published in 1982.

Sports News

FIFA suspends the Pakistan Football Federation


  • The Fédération Internationale de Football Association (FIFA) has decided to suspend the Pakistan Football Federation (PFF) with immediate effect in accordance with the verdict of the Bureau of the FIFA Council on 10 October 2017 on account of undue third-party interference.
  • The decision from Bureau of the FIFA council came in the light of the fact that the PFF offices and its accounts remain in control of a court-appointed administrator, which amounts to a violation of the PFF commitment to manage its affairs independently and without pressure from any third parties in accordance with the FIFA Statutes.
  • Only after the PFF gets all its offices and access to the accounts, FIFA will lift the suspension.

Iceland makes history, Qualifies for World Cup


  • Iceland created history on 9 October 2017 by qualifying for the 2018 World Cup. This is the first time that Iceland qualified for the World Cup.
  • Gylfi Sigurdsson and Johann Berg Gudmundsson scored 2-0 against Kosovo to bag a spot in Group I of UEFA World Cup Qualifying.
  • With a population of barely 330000, Iceland became the smallest country to clinch a position at the 21st FIFA World Cup. The previous smallest country to have reached the World Cup was Trinidad & Tobago which had a population of 1.3 million.
  • Meanwhile, Serbia made it to the 2018 World Cup finals to be held in Russia. It scored 1-0 over Georgia to cement its place, ending 8 year of its major final absence in the World Cup.

Reports

World Payment Report 2017: China is ahead of India in Digital Payment


  • As per the World Payments Report 2017, China is likely to be ahead of India in digital payment. It is a stunning remark in the backdrop of a major push in digital payment by Indian government following the Demonetisation.
  • The World Payments Report 2017 states that china will see a stable growth of 36 percent in digital transactions during 2016-20 while India is likely to grow up at an average of 26.2 percent during the same period.
  • World Payment Report is result of collaboration between Capgemini and BNP Paribas. Both are renowned leader in business banking and cash management. The report contains the report about digital payment and transaction all around the world and their progress in that way.
  • As per the report, China has jumped to the 3rd place with 38.1 billion transactions in 2015, whereas, India recorded transaction of 4.5 billion during the same period.
  • It is estimated that a India may have 25 billion non-cash transactions for 2017-18, with priority areas being mobile, subsidy transfers, government benefits and micro-payments.
  • The break-up of the 25 billion non-cash transaction is likely to come from card transactions- 11 billion (44 percent), mobile transfers- 6 billion (24 percent), and online transfers- 8 billion (32 percent).
  • Globally, Debit cards account for 46 percent of non-cash transactions followed by credit cards with 19.5 percent in 2015.

Days

World Obesity Day observed on 11 October 2017


  • World Obesity Day is observed on 11 October 2017 all over the world with the theme "treat obesity now and avoid the consequences later".
  • World Obesity Day was launched in 2015 to stimulate and support practical solutions to help people achieve and maintain a healthy weight, and to reverse the obesity crisis.
  • World Obesity Day is observed globally on 11 October with the view of promoting practical solutions to end the global obesity crisis. It is organised by the World Obesity Federation, a non-profit body which is in official relations with the World Health Organisation.
  • India with 14.4 million had the second highest number of obese children in 2015, after China with 15.3 million, a study has found.
  • The study showed that in 2015, excess weight affected 2.2 billion children and adults worldwide, or 30 per cent of all people.

International Day of the Girl Child 2017 observed globally


  • The International Day of the Girl Child was observed across the world on 11 October 2017 with the theme 'EmPOWER girls: Before, during and after crises'.
  • Presently, there are 1.1 billion girls in the world, and every one of them deserves equal opportunities for a better future. Most girls face disadvantage and discrimination on a daily basis, and those living through crises are suffering even more. Every 10 minutes, an adolescent girl dies as a result of violence.
  • Adolescent girls in conflict zones are more likely to be out of school in comparison with the girls of conflict-free countries.
  • The day aims to empower girls in raising their voices to fight for their rights and protection in all contexts.

World Mental Health Day 2017 observed globally


  • The World Mental Health Day was observed by the World Health Organisation (WHO) ON 10 October 2017 with the theme 'Mental health in the workplace'.
  • The Day is observed with an aim of raising awareness of mental health issues around the world and mobilizing efforts in support of mental health. The Day provides an opportunity for all stakeholders working on mental health issues to talk about their work.
  • Globally, more than 300 million people suffer from depression and more than 260 million are living with anxiety disorders. A recent WHO-led study estimates that depression and anxiety disorders cost the global economy USD 1 trillion each year in lost productivity.


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