Current Affairs Update – 6 October, 2017

Hello and welcome to exampundit. Here are the Important Current Affairs of 6 October, 2017. These are very important for the upcoming IBPS PO, IBPS RRB, OICL AO, UIIC Assistant & NICL Assistant Exams.

Banking & Financial News

Vijaya Bank inks MoU with HPCL for digital payments with BHIM/ UPI

  • Vijaya Bank has entered into a Memorandum of Understanding (MoU) with Hindustan Petroleum Corporation Ltd (HPCL) for enabling all HPCL retail outlets with BHIM/UPI merchant solutions.
  • Following the success of the pilot launch at five outlets, the solution is being scaled to enable UPI acceptance in all HPCL outlets throughout Karnataka over the next few weeks.
  • This rollout will empower all petrol pump attendants and LPG delivery personnel to accept digital payments. Customers can make payments by scanning a payment QR code, using BHIM Vijaya or any BHIM app that supports payments via UPI.
  • Vijaya Bank MD and CEO R A Sankaranarayanan exchanged the MoU document with HPCL Executive Director (Retail) G S.V Prasad at Bengaluru in the presence of Vijaya Bank Executive Directors B S Rama Rao and Nageswara Rao Y and HPCL Executive Director (IS) S T Sathiavageeswaran and HPCL General Manager D N Krishnamurthy.
  • Both Vijaya Bank and HPCL have inked the pact in line with the GOI initiative to encourage digital payments, especially BHIM/UPI.


India signs €300 million agreement with EIB for Bangalore Metro Phase II

  • Government of India and European Investment Bank (EIB) on 5 October 2017 signed the Finance Contract for lending of €300 million for Bangalore Metro Rail Project Phase II Line R6.
  • The agreement was signed by S. Selvakumar, Joint Secretary (BC), Department of Economic Affairs, Ministry of Finance and Andrew McDowell, Vice President of EIB.
  • The metro rail’s project phase II is to be jointly financed by the European Investment Bank (€500 million) and Asian Infrastructure Investment Bank (€300 million).
  • The project envisages extension of East-West & North-South lines for Bangalore Metro Rail which includes a total length of 72.095 km (13.79 km underground) and 61 stations with 12 underground stations.
  • Its main objective is to bring in quantum improvement in transportation sector in city in tandem with Bangalore Metropolitan Transport Corporation (BMTC) and other modes of urban transport.
  • It also aims to ensure modern transport facility for the commuters.

Union Ministers lay foundation stone for highway, shipping projects worth Rs 1321 Cr

  • Union Home Minister Rajnath Singh and Minister for Road, Transport & Highways Nitin Gadkari laid the foundation stone for 4 National Highways projects worth Rs 1121 Cr and several shipping projects worth Rs 200 Cr in Andaman and Nicobar Islands.
  • The two ministers were on a two-day visit to the Union Territory. They laid the foundation stones at events held at Port Blair, Diglipur and Baratang.
The Highway Projects include:

  1. National Highway (26 km-long) between Beodnabad- Ferrargunj at a cost of Rs 170  Cr.
  2. National Highway (56 km-long) between Austin Creek and Kalra Junction at a cost of Rs 410  Cr.
  3. Middle Strait Creek Bridge and Humphrey Strait Creek Bridge at a cost of Rs262.97  Cr and Rs277.17  Cr respectively.
  4. Andaman Trunk Road at Diglipur
The Shipping Projects include:
1. Extension of New Dry Dock, Port Blair
2. Alternate Sea Route to Baratang Island:
- The project has been completed at a cost of Rs 45.16 Cr.
- It aims to improve connectivity of the island from Port Blair, reduce traffic on the route that passes through the Jarawa Tribal Reserve and thus promote tourism without disturbing the tribal areas.
3. Extension of Wharf in Hope Town, Port Blair by 200 meters
- It is expected to cost about Rs 17.49 Cr.
- It would be used by Indian Oil Corporation for discharging LPG and other petroleum products.
- The extension of jetty would allow berthing of bigger vessels of upto160 meter length and higher capacity.

India, Ethiopia sign agreements on trade, communication

  • India and Ethiopia on 5 October 2017 signed agreements on trade, communication and media to boost bilateral ties.
  • The agreements were signed in the presence of President Ram Nath Kovind and his Ethiopian counterpart Mulatu Teshome at the National Palace in Ethiopian capital Addis Ababa following detailed discussions on economic relations.
  • The Indian President graced and addressed the India-Ethiopia Business Dialogue, organised to commemorate the 12th Anniversary of the India Business Forum in Addis Ababa on 5 October 2017. The forum is the first partner-country forum of its kind in Ethiopia and represents more than 100 Indian companies.
  • Speaking on the occasion, President Kovind said India wanted to strengthen bilateral ties with Ethiopia."We will be working closely to develop trade, investment and people-to-people relations between the two countries," he said.
  • He added that India will provide a credit line to the tune of USD 95 million to Ethiopia for an electric transmission line. He also announced a grant of USD 2 million for the purchase of food grains and referred to India as among the top three sources of foreign direct investment for Ethiopia.
  • Besides this, India also thanked Ethiopia for its participation in the International Solar Alliance (ISA), established in 2015. The main objective of the ISA is to provide a dedicated platform for cooperation among solar resource rich countries and promote the use of solar energy.

News related to India & states

First ASEAN-India Music Festival begins in New Delhi

  • The first ever ASEAN-India music festival began at Purana Quila in New Delhi on 6 October 2017.
  • The 3-day festival is being organised by the Ministry of External Affairs, Government of India in collaboration with Culture Ministry to celebrate the 25th year anniversary of ASEAN-India Dialogue Relations. It will conclude on 8 October 2017.
  • The theme for this commemorative year is ‘Shared Values, Common Destiny’.
  • The theme along with this festival aims to boost cultural influences among the people of the ASEAN member states and India.
  • It will witness eclectic performances by musicians of 10 enigmatic bands from ASEAN member states such as The Ugly Band, Cherpen, Tim De Cotta and Red Bamboo to name some.
  • Popular Indian bands like the Raghu Dixit Project, Avial, Papon LIVE, Bipul Chettri and the Travelling Band and Shankar-Ehsaan-Loy would also be participating in the festival.


Awards & Honors

Nobel Peace Prize 2017 goes to anti-nuclear weapons campaigner ICAN

  • The International Campaign to Abolish Nuclear Weapons (ICAN) won the Nobel Peace Prize on Friday, as the Norwegian Nobel Committee warned that the risk of a nuclear conflict is greater than for a long time.
  • ICAN describes itself as a coalition of grassroots non-government groups in more than 100 nations. It began in Australia and was officially launched in Vienna in 2007.
  • “We live in a world where the risk of nuclear weapons being used is greater than it has been for a long time,” said Berit Reiss-Andersen, the leader of the Norwegian Nobel Committee.
  • In July, 122 nations adopted a UN Treaty on the Prohibition of Nuclear Weapons, but nuclear-armed states including the United States, Russia, China, Britain and France stayed out of the talks.
  • The Nobel prize seeks to bolster the case of disarmament amid nuclear tensions between the United States and North Korea and uncertainty over the fate of a 2015 deal between Iran and major powers to limit Tehran's nuclear programme.
  • US President Donald Trump has called the Iran agreement the “worst deal ever negotiated” and a senior administration official said on Thursday that Trump is expected to announce soon that he will decertify the landmark pact.

Rajesh Nath, MD, VDMA India, gets Germany's highest civilian honour

  • Rajesh Nath, Managing Director of VDMA India, has been conferred the ‘Cross of the Order of Merit’, the highest civilian honour awarded to individuals for their services to Germany.
  • The award, also known as Bundesverdienstkreuz or Federal Cross of Merit was instituted in 1951 and is Germany’s only honour that is awarded to both Germans and foreigners for achievements in the economic, social, political or intellectual realms.
  • The Cross of Merit, along with the certificate signed by the President of Germany, was handed over by the Consul-General of Germany in Kolkata, Dr Michael Feiner, today.​

Sports News

FIFA U-17 World Cup 2017 kicks off

  • The much-awaited FIFA U-17 World Cup kicks off today, 6 October 2017 with four opening day matches to be played in Delhi and Mumbai.
  • The opening matches would be played by teams in Group A and B. In Delhi, the inaugural match would be played between Group A teams Colombia and Ghana at Jawahar Lal Nehru Stadium, followed by hosts India who would take on team USA in the second match.
  • In Mumbai, Group B team New Zealand would be taking on Turkey in the first game at DY Patil stadium in Navi Mumbai, followed by Paraguay against Mali.
  • This is the first time that India will be participating in a FIFA World Cup.
  • In all 24 countries from six confederations are participating in the youth tournament.
  • The total number of matches are 52, which will be held in six cities – New Delhi, Kochi, Kolkata, Margao, Navi Mumbai and Guwahati - across the country.
  • The tournament will conclude on 28 October 2017.
  • The football extravaganza is expected to attract viewership from all over the globe, almost up to 200 million.
  • The Indian U-17 team is going to create history, as it will be the first time ever that a team representing India will participate in a FIFA-organised world tournament, let alone the Under-17 World Cup.




Team ExamPundit