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Saturday, November 04, 2017

Current Affairs Update – 4 November, 2017


Hello and welcome to exampundit. Here are the Important Current Affairs of 4 November, 2017. These are important for the upcoming IBPS PO, Clerk Mains, NICL Assistant, OICL AO exams.

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Financial & Banking News

AU Small Finance gets scheduled commercial bank status


  • AU Small Finance Bank has received Reserved Bank of India (RBI) approval to operate as Scheduled Commercial Bank. This bank's name has now been included in the Second Schedule of Reserve Bank of India Act, 1934.
  • Post acquiring scheduled commercial bank status, AU Small Finance Bank will be able to do borrowing and lending with RBI under Liquidity Adjustment Facility (LAF) and Marginal Standing Facility (MSF) .
  • Also, it will help AU Small Finance Bank to acquire business from public sector undertakings (PSUs), corporates, banks, mutual funds, insurance companies and other market participants which can transact with scheduled banks only to comply either regulatory or internal guidelines.
  • It will also enable AU Small Finance Bank to issue Certificate of Deposits (CDs) on competitive interest rates in market to get liquidity.
  • AU Small Finance Bank started its banking operation from April 19 this year. The development will not only widen the reach for AU Bank’s services and liability capabilities but also influence its growth prospects in future, a statement issued by the bank said..
  • Prior to becoming a bank, as Au Financiers (India) Ltd (an Asset Finance NBFC), the company had gained over 20 years of experience in financing the unbanked and underbanked segment in rural and semi urban areas.

Rs 10,000 Crore MoU signed between Govt of India & Patanjali


  • A memorandum of understanding (MoU) of Rs 10, 000 Crore was signed between the Government of India (GoI) and Patanjali on Friday at the World Food India 2017.
  • The MoU was signed by Managing Director of Patanjali, Acharya Balkrishna and Harsimrat Kaur Badal, the Union Cabinet Minister of Food Processing in the Government of India.
  • Speaking to ANI, Acharya Balkrishna said, "World Food India 2017 is a great initiative. This will generate new opportunities. This event will help people."
  • The World Food India 2017 organised at Delhi's Vigyan Bhawan was inaugurated by Prime Minister Narendra Modi earlier in the day.
  • The three day-long event, organised by the Ministry of Food Processing Industries, is set to host a congregation of global investors and business leaders of major food companies from November 3 to 5 in New Delhi.
  • Earlier in October, Patanjali climbed from 45th place last year to 19th this year, in the Forbes magazine's Annual India Rich List 2017.

Yes Bank signs MoU with govt for Rs 1,000 cr financing


  • Private sector lender Yes Bank today signed an agreement with the government to provide Rs 1,000 crore financing for food processing projects.
  • The funding will be provided to around 100 food processing projects with an average ticket size of Rs 10 crore each, the bank said in a statement.
  • Focus will be on projects across backend infrastructure, cold chain creation of new processing units, expansion of existing units, forward linkages and food processing clusters in various locations in India, amongst others, it added.
  • The memorandum of understanding (MoU) amid the ongoing three-day World Food India being organised by the Food Processing Ministry.
  • At World Food India event, Yes Bank is anchoring 'Food Processing Start-Up Awards' institutionalised along with the government to boost start-up ecosystem in the country.
  • Over 150 applications were received, of which the top 20 have been selected on the basis of scalability and enterprising innovations across six areas namely products, technologies, food safety, supply chain, cold chain & packaging, the bank said.
  • Top three promising and innovative startups will be awarded by the President of India during the valedictory session of the event on November 5, it added.

MoU signed for Rs.6,000 cr mega food processing zone in Telangana


  • Telangana State would soon boast of a Mega Food Processing Zone, IT and Industries Minister K T Rama Rao said on Friday.
  • The Minister, who held meetings with representatives of several companies in New Delhi at the Wold Food India Conference, said an agreement to set up the zone has been finalised. Dakshin Agropolis signed a Memorandum of Understanding worth Rs 6,000 crore to establish a food processing zone at NIMZ in Zaheerabad, and would require 300 acres.
  • The food processing zone would generate employment for about 6,000 people which would consist of 5,000 women and 1,000 men, he said. The initial investment of Rs 6,000 crore would be used for setting up food processing units at a cost of Rs 2,500 crore and Rs 3,500 crore would be spent on setting up a Farmers Producers Organization (FPO).
  • On the first day of the World Food India Conference, the State government signed two agreements and on Saturday, it is expected to sign another ten agreements. These agreements would bring investments to the tune of Rs 7,500 crore to the State.

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News related to India & States

India sets Guinness Record for cooking 918 kgs of Khichdi


  • India has achieved a Guinness World Record feat while putting the spotlight on the humble Indian dish Khichdi.
  • At the ongoing World Food India event, 918 Kgs of Khichdi was prepared using a 1000 litres stainless steel kadhai at the India Gate Lawns at New Delhi on Saturday, in a bid to promote Indian ingredients and cuisine and created a new Guinness World Record.
  • A team of 50 people led by Chef Sanjeev Kapoor, the brand ambassador of The Great Indian Food Street, and Akshaya Patra prepared the Khichdi. The world-record ceremony was attended by Minister of Food Processing and Industries Harsimart Kaur Badal and Patanjali Group founder Baba Ramdev among others.
  • Badal said Khichdi is a wonder staple food of India consumed across the length and breadth of the county by rich and poor alike. She said that Khichdi symbolises India’s great culture of unity in diversity. “It is our message of unity to the world from the World Food India,” she added.
  • Kapoor said, “The largest serving of Khichdi was made by using Indian ingredients such as Chawal, Moong Beans, Amaranth, Jowar, Bajra and Indian spices to make it nutritious and high protein.”
  • It took over three months of planning and multiple trials in attempting to cook over 800 kgs of Khichdi. A giant kadhai of the capacity of 1000 litres and 7 feet in diameter, was specially designed for this event.


India successfully tests its first fully indigenous Glide bomb


  • The Union Government announced on 3 November 2017 that an indigenously developed lightweight 'Glide' bomb was successfully tested in Chandipur in Odisha.
  • The development marks a major milestone in developing such weapons. The bomb - SAAW (Smart Anti Airfield Weapon) - was dropped from an Indian Air Force aircraft at the Integrated Test Range (ITR) in Chandipur on 2 November.
  • The bomb released from the aircraft and guided through precision navigation system reached the targets greater than 70 km range with high accuracies.
  • A total of three tests with different release conditions and ranges were conducted successfully.
  • The bomb has been developed by the Research Centre Imarat (RCI), Defence Research and Development Organisation (DRDO), along with other laboratories of the DRDO and the Indian Air Force.

Awards & Honors

Krishna Sobti chosen for prestigious Jnanpith award 2017


  • Krishna Sobti, renowned Hindi litterateur, will be honoured with the 53rd Jnanpith Award for the year 2017.
  • The decision was announced by the Jnanpith Selection Board at a meeting of the selection committee held on 3 November 2017. The meeting was chaired by renowned Hindi critic Namwar Singh.
  • The 92-year-old writer was chosen for the prestigious award for her path-breaking contribution in the field of literature.
  • The jury for the selection of the award comprised Girishwar Mishra, Shamim Hanifi, Harish Trivedi, Ramakant Rath and the director of the Bharatiya Jnanpith Leela Dhar Mandloi.


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