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Wednesday, November 01, 2017

Current Affairs Update – 1 November, 2017


Hello and welcome to exampundit. Here are the Important Current Affairs of 1 November, 2017. These are important for the upcoming IBPS PO, Clerk Mains, NICL Assistant, OICL AO exams.



Financial & Banking News

Union Government constitutes Arun Jaitley led committee to oversee PSU bank mergers


  • The Union Government on 31 October 2017 constituted a ministerial committee headed by Finance Minister Arun Jaitley to oversee merger proposals of 21 state-owned PSU banks.
  • The other members of the committee include Railways and Coal Minister Piyush Goyal and Defence Minister Nirmala Sitharaman.
  • Besides this, the Union Government is working on banking reforms and constituted an Alternative Mechanism for Public Sector Banks. The mechanism will oversee the proposals coming from boards of PSBs for consolidation.
  • Earlier in October 2017, the Union Government announced a Rs 2.11 trillion Bank Recapitalisation Plan for public sector banks to stimulate the flow of credit to fuel private investment.
  • PSU bank consolidation has been in talks since 1991, when M Narasimham, former Reserve Bank of India (RBI) Governor, suggested the merger of banks into a three-tiered structure led by three large banks with an international presence.
  • Later in 2014, the PJ Nayak panel recommended that the government should either merge or privatize state-owned banks. Consolidation will help these banks in dealing better with their credit portfolio including stressed assets.

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Assam signs MoUs with Singapore for skilling state’s youth


  • Assam government today signed Memorandum of Understanding (MoUs) and Terms of Reference (ToR) with Singapore for skilling youth of the state.
  • The MoU and ToR for North East Skills Centre (NESC) was signed between Skill, Employment and Entrepreneurship Department, of Assam government and ITE Education Service, Singapore in the presence of Foreign Affairs Minister of Singapore Dr Vivian Balakrishnan and Chief Minister Sarbananda Sonowal here.
  • An MoU for Guwahati City Greening was inked between the Guwahati Metropolitan Development Authority and Singapore Corporation Enterprise.
  • The Singapore Foreign Affairs Minister termed the occasion as the beginning of a lasting friendship which would be beneficial for both Assam and Singapore.
  • Informing that the state government will provide skill development training to 78,500 poor rural youths during 2016-19 under the Deen Dayal Upadhyaya Grameen Kaushalya Yojana (DDUJKY), Sonowal expressed the view that the partnership with Singapore would greatly boost the initiative.

News related to India & states

Google opens first India data centre in Mumbai


  • Google, the information technology giant, opened its first data centre in India on Wednesday, offering customers the ability to host applications and store data locally. This is part of its effort to compete with global rivals Amazon and Microsoft in this country's fast-growing cloud services space.
  • Located in Mumbai, Google says the data and applications hosted at its new data centre will help reduce latency (the term in a computer network for the time it takes for a packet of data to get from one designated point to another) by 20-90 per cent for end-users in Mumbai, Chennai, Bengaluru and Hyderabad. The company will also allow users to pay in rupees.
  • The company will offer customers of its cloud platform in India all its major services of Compute, Big Data, Storage, and Networking. The local centre will also allow it to tap sectors, such as financial services, which have been sceptical of hosting data abroad due to security concerns.

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Indian Air Force to participate in air exercise ‘Blue Flag-17’ in Israel


  • The Indian Air Force (IAF) would be participating in a two-week-long multilateral air exercise- 'Blue Flag-17'- in Israel starting from 2 November 2017.
  • According to an official statement by the Defence Ministry, a 45-member contingent of the air force left to take part in the exercise on 31 October 2017. The team led by Group Captain Maluk Singh VSM consists of personnel from various combat elements of the IAF.
  • This is the first time that the Indian Air Force would be operating with its counterpart in Israel in a multilateral exercise setting since diplomatic relations were established between the two countries in 1990.
  • It is a bi-annual multilateral exercise that aims to strengthen military cooperation amongst participating nations.
  • It would be conducted at the Uvda Air Force Base in Israel from 2 November to 16 November 2017.

Haryana government announces lifetime pensions for 'Hindi Satyagrahis'


  • The state government of Haryana on 31 October 2017 announced lifetime monthly pension of Rs 10,000 for 'Hindi Satyagrahis' and those from the state who were jailed during the Emergency.
  • The state government also announced that it would be providing enhanced financial assistance to World War-II veterans and their widows. Besides this, the state’s Chief Minister, Manohar Lal Khattar announced 10 hours electricity supply to farmers starting from 1 November 2017.
  • The announcements were made during the closing ceremony of the year-long 'Swarna Jayanti' celebrations of the state at Mahabir Stadium in Hisar, Haryana. Vice President M Venkaiah Naidu was the Chief Guest for the occasion.

Appointments


Bharti AXA Life appoints Vikas Seth as CEO


  • Bharti AXA Life Insurance, a joint venture between Bharti Enterprises and AXA, has appointed Vikas Seth as Chief Executive Officer.
  • The appointment is subject to requisite IRDAI approval. Prior to joining Bharti AXA Life, Vikas was with the Aditya Birla Group, where he worked for nearly 10 years in different roles. Vikas brings with him over 21 years of experience in diverse industries, including life insurance, telecom and FMCG.
  • In one of his later assignments, he served as the Chief Distribution Officer for Birla Sun Life Insurance responsible for agency sales force, bancassurance, corporate agency and broker channels.

Sports News

Shahzar Rizvi, Pooja Ghatkar win gold at Commonwealth Shooting Championship


  • Indian pistol shooters today pulled off a clean sweep in the 10m air pistol event at the Commonwealth Shooting Championship with Shahzar Rizvi, Omkar Singh and Jitu Rai winning gold, silver and bronze medals respectively.
  • In the 10m women’s air rifle event, Pooja Ghatkar bagged a gold while her countrymate Anjum Moudgil won the silver medal. The bronze in this event went to Martina Lindsay Veloso of Singapore.
  • India had a productive second day at the range winning as many as five medals, including two gold, two silver and one bronze medal.
  • Earlier, Heena Sidhu claimed the 10m air pistol gold, while Deepak Kumar fetched a silver in the 10m air rifle event to give India a fine start at the Championships yesterday.
  • Sidhu shot a combined score of 626.2 (386+240.8) to claim the top honours.
  • This was Sidhu’s second successive international gold after she, along with Jitu Rai, claimed the top position in the 10m air pistol mixed team event in the ISSF World Cup Finals in Delhi earlier this month.

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