Current Affairs Update – 26 October, 2017 - Exam Pundit - IBPS PO | Clerk | SBI PO | Insurance Exams | SSC Exams | Current Affairs

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Thursday, October 26, 2017

Current Affairs Update – 26 October, 2017


Hello and welcome to exampundit. Here are the Important Current Affairs of 26 October, 2017. These are very important for the upcoming IBPS PO, IBPS RRB, OICL AO, UIIC Assistant & NICL Assistant Exams.


Banking & Financial News

IDFC Bank launches 100th branch at Honnali, Karnataka


  • IDFC Bank has launched its 100th branch at Honnali, Karnataka and plans to expand its network in the metros in the next one year.
  • Of the 100 branches, 17 are in the metro cities. The bank plans to expand its branch network in the metros in the next one year, for a balanced presence in metro, urban and rural geographies. The scale-up will take the bank's network in metros alone to 100 branches, it added.
  • This coincides with the completion of the bank's second year of operations.

India imposes anti-dumping duty on stainless steel from US, EU and China


  • India has imposed anti-dumping duty on certain stainless steel products from the European Union and other nations including China and Korea, in order to protect the domestic industry from cheap imports.
  • The duty was imposed by the Revenue department following the recommendation by the Directorate General of Anti-Dumping and Allied Duties (DGAD).
  • The levied duty will range between 4.58 per cent and 57.39 per cent of the landed value of cold-rolled flat products of stainless steel.
  • The anti-dumping duty will be in effect until 10 December 2020.
  • The direction however, exempts certain grades of stainless steel from the duty.
  • The duty will be levied on the imports of stainless steel products from China, Taiwan, South Korea, South Africa, Thailand, the United States and the European Union.

CRISIL launches India's first infrastructure investability index


  • CRISIL launched the CRISIL InfraInvex, India's first investability index that tracks, measures and assesses the development, maturity and investment attractiveness of infrastructure sectors, along with the CRISIL Infrastructure Yearbook 2017, a first-of-its-kind annual publication.
  • For years now, the government has been doing the heavy lifting in terms of infrastructure investments. However, having only the public investment cylinder firing is not good enough. Accelerating private sector investments is an essential complementarity, and the other cylinder that needs to fire.
  • The CRISIL Infrastructure Yearbook 2017 underlines this aspect, and says India needs to spend at least Rs 50 lakh crore between fiscals 2018 and 2022 to build out its infrastructure sustainably.

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News related to India & states

Mumbai To Get India's First AC Local Trains


  • The wait for air-conditioned train will finally end for passengers of Mumbai's suburban railway service, with Railway Minister Piyush Goyal today saying that the first such train will be introduced on January 1.
  • The local train network, considered Mumbai's lifeline, is heavily congested and carries over 65 lakh passengers very day, with the Western Line alone accounting for 35 lakh passengers. Officials said the plan to introduce AC trains has been on the anvil for over a year.
  • For starters, one AC train with around seven services daily will run on the Western Line.
  • Officials said that the fares on the AC train will be like the Delhi Metro or around 1.5 times the cost of first class tickets in the existing local trains.
  • The railways has procured nine more electrical multiple unit (EMU) AC rakes for Mumbai so that such services can be operated both on the Western railway (WR) and Central railway (CR) lines, officials said.

SC asks UP, Haryana, Rajasthan to ban use of pet coke to curb air pollution


  • The Supreme Court (SC) on 24 October 2017 directed the governments of Uttar Pradesh (UP), Haryana and Rajasthan to ban the use of petroleum (pet) coke and furnace oil in the industries with an aim to fight air pollution.
  • The ruling was made by a bench of Justices Madan B Lokur and Deepak Gupta. The bench also clarified that it will ban the use of pet coke and furnace oil in these three states from 1 November 2017, if the respective governments did not prohibit their use in the industries by then.
  • Besides ruling this, the court fined Union Environment Ministry with Rs 2 lakh for not finalising pollution emission standards for industries using pet coke and furnace oil in the National Capital Region (NCR).
  • The bench also directed the Ministry to notify the standards for Nitrogen Oxide (NOx) and Sulphur Oxides (SOx) for the industry sector and the industries need to comply with the standards by 31 December 2017.
  • The court was hearing a PIL filed by environmentalist MC Mehta in 1985, who had raised the issue of air pollution in the Delhi-NCR.

Indian Navy approves new deployment plan for warships in Indian Ocean


  • The Indian Navy on 25 October 2017 approved a new mission-based deployment plan that involves deploying mission-ready ships and aircraft along critical sea lanes of communications in the Indian Ocean region.
  • The Navy in an official release stated that Chief Admiral Sunil Lanba had approved the plan on the second day of the four-day naval commanders' conference that was held in New Delhi.
  • The warships have been deployed to tackle any possible event ranging from acts of maritime terrorism and piracy to humanitarian assistance and disaster relief missions. The deployments are supposed to be maintained round-the-clock.
  • Besides this, the Indian navy along with the Ministry of External Affairs has decided to focus efforts on developing the capacity and capability of the navy in the region.
  • The move of deploying the mission-ready ships and aircraft is also reportedly to counter China’s growing presence in the strategically key waters. The threat was one of the key issues that was brought up for discussion on the second day of the four-day long naval commander’s conference.

Environment Ministry issues stage-I forest clearance for Kaleswaram project construction


  • The Union Ministry of Environment and Forests has given its in-principle stage-I forest clearance for the construction of the Kaleswaram project stage-one.
  • The ministry has approved the diversion of about 3,200 hectares of forest land for the project construction based on the recommendations of the Forest Advisory Committee (FAC).
  • The ministry has allowed diversion of the forest land spread over eight forest divisions — Mahadevpur, Karimnagar-Sircilla, Siddipet, Yadadri, Medak, Nizamabad, Banswada and Nirmal — for taking up the project work.
  • The Kaleshwaram Lift irrigation project has been designed to irrigate 7,38,851 hectares of land in the upland areas of the former undivided districts of Adilabad, Karimnagar, Nizamabad, Warangal, Medak, Nalgonda and Rangareddy.
  • The project across River Godavari near Kaleswaram in Karimnagar district was proposed by the Telangana state government at an estimated cost of over Rs 80,500 Cr.

World News

World's oldest navigational tool 'Astrolabe' discovered on shipwreck


  • David Mearns, Britain-based shipwreck searcher, on 24 October 2017 revealed that the 'Astrolabe' discovered by him on a shipwreck off the coast of Oman in 2014 is the world’s oldest navigational tool.
  • The astrolabe guided the Portuguese explorers on their dangerous expedition to India in the 16th century. Besides astrolabe, other items discovered on the shipwreck were a bronze bell, gold coins and a rare silver coin known as the ‘ghost coin of Dom Manuel.'
  • Mearns’s company Blue Water Recoveries found the shipwreck in 1998 after researching it but excavations on the site did not begin until 2013, when the excavations began in collaboration with Oman’s Culture Ministry. Presently, the astrolabe is with Oman’s National Museum.

Days/Weeks

Central Vigilance Commission to observe vigilance awareness week


  • The Central Vigilance Commission would be observing vigilance awareness week from 30 October to 4 November 2017 with the theme “My Vision Corruption Free India.”
  • The week’s inaugural function would have Vice President M Venkaiah Naidu as the Chief Guest, according to Central Vigilance Commissioner, K V Choudhary.
  • The Vigilance Commission has designed an online pledge system on which any citizen can take pledge against corruption.
  • If any citizen comes across any sort of corruption then, that person can report the same without unveiling his or her identity.
  • The main events of the week include seminars, discussions and other outreach events, which have been planned involving private sector, professional associations and trade unions for wider participation of all sections of civil society.

Awards & Honors

Indian origin activist Gina Miller named UK’s most influential black person of the year


  • Indian origin campaigner Gina Miller was named UK’s most influential black person of the year on 25 October 2017. Gina won a legal challenge seeking Parliamentary approval for triggering Brexit. The Supreme Court ruling came in her favour in January 2017.
  • 52 year old Miller, ranked on top in the 2018 'Powerlist' of 100 people of African and African Caribbean inheritance published in London by Powerful Media.
  • An investment fund manager and philanthropist Gina took a legal action against British Prime Minister Theresa May demanding that individual members of the Cabinet have no legal power to trigger Article 50 of the Lisbon Treaty. Article 50 states that any member state may leave “in accordance with its own constitutional requirements”.
  • Miller has been attacked several times on social media for taking her stand against Britain's exit from the European Union. She has been provided 24 hour security for safety reasons.

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Indexes

Global Passport Power Rank 2017 released: Singapore ranks first, India positioned at 75


  • The Global Passport Power Rank 2017 was released on 25 October 2017 by global financial advisory firm Arton Capital.
  • As per the Global Passport Index, Singapore fetched the most powerful ranking with a score of 159 in visa free category, topping the list. Germany was ranked second, followed jointly by Sweden and South Korea in third place.
  • India was ranked at 75th place, three places above its earlier rank of 78.
  • Following Paraguay’s removal of visa requirements for Singaporeans, Singapore bagged the first rank at the Global Passport Index. This was the first time when an Asian nation got the most powerful passport in the world.
  • Besides Singapore, the other nations on Top 5 were Germany (visa score 158) that bagged second;   Sweden and South Korea (visa core 157) together were placed 3rd; Denmark, Finland, Italy, France, Spain, Norway, Japan, United Kingdom (156 visa score) were placed at number four and Luxemburg, Switzerland, Netherlands, Belgium, Austria, Portugal (155 visa score) were positioned at number 5.
  • South Korea, Japan and Malaysia were three Asian nations that were included in Top 20.
  • Earlier the Top 10 ranks were held by European countries.


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