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Friday, November 10, 2017

Current Affairs Update – 10 November, 2017


Hello and welcome to exampundit. Here are the Important Current Affairs of 10 November, 2017. These are important for the upcoming IBPS PO, Clerk Mains, NICL Assistant, OICL AO exams.




Banking & Financial News

Skywalk, FOB among 5 projects approved for funding through Urban Development Fund


  • Union Minister of state for Housing and Urban Affairs Hardeep Singh Puri on 9 November 2017 announced that the Skywalk and Foot Over Bridge (FoB)  at ITO are among the 5 projects approved for funding of Rs 643.58 crore through the Urban Development Fund by the Union Ministry of Housing & Urban Affairs.
  • The other projects include construction of flyovers, underpasses etc at Mahipalpur, Narela, ISBT Kashmiri Gate and Rani Jhansi Road.
  • The Skywalk and Foot Over Bridge project will be built at an intersection point with a metro station, the Tilak Bridge railway station and seven major arterial roads.
  • This will lead to easier inter-crossing of pedestrian as the vehicular traffic poses a potentially dangerous situation to the pedestrians.
  • This project will benefit the public at large who visit these offices along with the employees working in over 25 major offices located in the ITO area such as Police HQ, PWD HQ, Institute of Engineers, ICAI, Income Tax office, Central Excise, DDA, School of Planning and Architecture, GST office, etc.
  • The entire cost of Rs 54.34 crore of the project is being funded through Urban Development Fund (Rs 43.47 crore) and by DDA (Rs 10.87 crore).
  • The project is expected to be completed by March 2018.

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RBI directs banks to provide doorstep banking facilities to senior citizens, differently-abled


  • The Reserve Bank of India on 9 November 2017 asked banks to provide doorstep banking facilities to senior citizens who are more than 70 years of age and differently-abled persons by December 2017.
  • The apex bank has directed all the banks to provide basic banking services such as pick-up and delivery of cash, chequebooks and demand drafts, submission of Know Your Customer (KYC) documents and Life certificates at the residence of the senior citizens and specially-abled persons, including the visually-impaired.
  • The RBI notification in the same regard has advised the banks including small finance and payments banks to implement the instructions by 31 December 2017 in letter and spirit and give due publicity in their bank branches and websites.
  • The RBI has asked banks to provide a minimum of 25 cheque leaves every year for a savings bank account free of charge.
  • It also said that banks should not insist on physical presence of any customer including senior citizens and differently-abled persons for getting cheque books.
  • Banks have also been advised that a fully KYC compliant account should automatically be converted into a 'Senior Citizen Account' based on the date of birth available in the bank's records.
  • The banks have also been asked to provide senior citizens and differently-abled persons Form 15G/H (related to tax deduction at source) once a year, preferably in April.      

Union Government revises House Building Advance rules for government employees


  • The Union Government has revised the House Building Advance (HBA) rules for Central Government Employees incorporating the accepted recommendations of the 7th Pay Commission. 

Following are the salient features of the new rules:-

  • The total amount of advance that a central government employee can borrow from the government has been revised.  The employee can now borrow up to 34 months of the basic pay subject to a maximum of Rs. 25 lakhs (Rs. Twenty Five Lakhs only), or cost of the house/flat, or the amount according to repaying capacity, whichever is the least for new construction/purchase of new house/flat. The earlier limit for the same was only Rs 7.50 lakhs.
  • The HBA amount for expansion of the house has also been revised to a maximum of Rs.10 lakhs or 34 months of basic pay or cost of the expansion of the house or amount according to repaying capacity, whichever is least. The earlier limit was Rs 1.80 lakhs.
  • The cost ceiling limit of the house which an employee can construct/ purchase has been revised to Rs.1.00 crore with a provision of upward revision of 25 per cent in deserving cases. The earlier cost ceiling limit was Rs 30 lakhs.
  • If both the spouses are central government employees then, they are now eligible to take HBA either jointly, or separately. Earlier only one spouse was eligible for House Building Advance.
  • The new rules also include a provision for individuals migrating from home loans taken from Financial Institutions/ Banks to HBA, if they desire.

News related to India and states

Telangana Assembly passes bill on prevention of dangerous activities


  • The state assembly of Telangana passed three key bills including one on prevention of dangerous activities.
  • The state assembly passed the Telangana Prevention of Dangerous Activities of Bootleggers, Dacoits, Drug Offenders, Goondas, Immoral traffic offenders and Land grabbers (Amendment) Bill, 2017.
  • The bill seeks replacement of the ordinance that the state government passed about 6 months ago. While the opposition alleged that the state government had failed in bringing down crimes, the government stated that illegal activities had come down after the ordinance had come into force.
  • Besides this, the assembly also passed the Telangana Road Development Corporation (Amendment) Bill, 2017 for development of roads and highways by securing funds from financial institutions and the Shops an Establishments (Amendment) Act, 2017.  The bill seeks to give instant licences to shops and commercial establishments as part of Ease of Doing Business.

Government to provide 100 foreign students full scholarship to study Ayurveda


  • The Union government has announced that it would be providing full scholarship to 100 non-Indian students if they study Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homoeopathy (Ayush) in any of the public institutions across India.
  • The announcement was made by Ayush Minister Sripad Naik who is on a three day visit to UAE to participate in the first ever International Ayush Conference and Exhibition in Dubai.
  • The main aim behind the initiative is to encourage and popularise the alternative system of medicine.
  • The details of the application process and scholarship will soon be available with the Indian missions abroad.
  • The 100 students can be from any country across the world.
  • For further promotion of the traditional system of medicine in the Middle East region, the Ayush ministry would be setting up an Ayush chair in Dubai in coordination with the Ministry of Health (MoH) of UAE.

World News

India re-elected as member of UNESCO's executive board


  • India was re-elected as the member of UNESCO’s executive board on 9 November 2017.
  • The election was held at the 39th session of the General Conference of the United Nations Educational, Scientific and Cultural Organisation in Paris. The executive board is the top decision- making body of the international organisation.
  • The General Conference consists of the representatives of the member states of the organisation.
  • It meets every two years and is attended by member states and associate members along with observers for non-member States, intergovernmental organisations and non- governmental organisations (NGOs).

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Awards & Honors

UNHCR to receive Mother Teresa Award 2017 for social justice


  • The United Nations High Commission for Refugees (UNHCR) was on 9 November 2017 named as the recipient of Harmony Foundation's Mother Teresa Memorial Award for Social Justice 2017 for its exceptional work worldwide.
  • Harmony Foundation's 2017 theme is 'Compassion Beyond Borders' and UNHCR efforts aptly fit into this theme.
  • UNHCR beautifully epitomizes the theme with heroism of its workers and volunteers who tirelessly work in crisis areas globally. The UNHCR provides humanitarian aid to innumerable people internally displaced by conflicts and helps stateless people all over the world.
  • The award will be presented to the UNHCR at a function on 10 December 2017 on the occasion of the celebrations of the unique legacy of Mother Teresa, popularly known as the 'Saint of The Gutters'.

National Entrepreneurship Awards 2017 announced


  • The Union Ministry of Skill Development & Entrepreneurship (MSDE) on 9 November 2017 announced the National Entrepreneurship Awards 2017 to encourage a culture of entrepreneurship across the country.
  • This is the second edition of the National Entrepreneurship Awards (NEA). The awards were instituted by MSDE in 2016.
  • This year, the awards saw participation from 2880 applicants, out of which 45 were shortlisted and finally 15 were announced as winners across defined categories.
  • The award includes a cash prize of Rs 5 lakh for enterprises and individuals and Rs 10 lakhs for organizations and institutes along with a certificate and trophy.

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