CURRENT AFFAIRS - SEPTEMBER 21 TO 30 2017 -- IBPS PO/ CLERKS

21^st September 2017

World’s fastest bullet train launched

China began the process to restore the world’s fastest bullet train, running at 350 km/hr, from Beijing to Shanghai, 6 years after it reduced the speed of its trains. A ‘Fuxing’ bullet train, which will enjoy the high-speed, departed Beijing South Railway for Shanghai. The Fuxing has a 30-year life, 10 years more than the existing model, and consumes 10% less power when running at 350 km/hr.

Udaan extended for Jammu and Kashmir

The Union Cabinet extended the time period for Udaan – the Special Industry Initiative for Jammu and Kashmir till 31 December 2018. Udaan is a centrally funded skill enhancement scheme for J&K youth implemented by National Skill Development Corporation. The scheme is run by National Skill Development Corporation (NSDC).

Puducherry to ban plastic bags

The Puducherry government decided to ban manufacture and use of plastic packaging materials of less than 51 microns. The government also advised hotel and restaurant owners to abstain from packing ‘ready to eat’ food items in ‘butter paper’ or such plastic transparent sheets. Alternatively, the shop owners have been asked to use plantain leaf or any such natural products for such packaging

Afghan Air Force recieves helicopters

The Afghan Air Force took delivery of its first four US made UH-60 Black Hawk helicopters. The U.S. plans to supply a total of 159 Black Hawks to Afghanistan in the coming years as it boosts the capacity of the Afghan Air Force. The helicopters will replace the Russian made Mi-17 helicopters.

Optical polarisation phenomenon

Over 70 years after Indian astrophysicist and Nobel laureate Subrahmanyan Chandrasekhar predicted that rapidly rotating stars would emit polarised light, scientists in Australia have observed the phenomenon for the first time. Optical polarisation is a measure of the orientation of the oscillations of a light beam to its direction of travel. It was first observed in 1946.

ONGC discovers oil

Oil and Natural Gas Corp. (ONGC) has made a significant oil discovery to the west of its prime Mumbai High fields in the Arabian sea. The discovery in the well WO-24-3 is estimated to hold an in-place reserve of about 20 million tonnes. Mumbai High, India’s biggest oil field, currently produces 205,000 barrels of oil per day

India joins quantum computing race

The Department of Science and Technology is planning to fund a project to develop quantum computers. A quantum computer, still largely a theoretical entity, employs the principles of quantum mechanics to store information in ‘qubits’ instead of the typical ‘bits’ of 1 and 0. Canada’s D-Wave Systems, is a pioneer in quantum computers.

Bangladesh nuclear plant

India said it is collaborating with Russia to build the Roppur nuclear power plant in Bangladesh. This will be India’s first atomic energy venture abroad. The Rooppur project, which is being built by the Russians near Dhaka, will be Bangladesh’s first atomic energy project. According to the 2014 Indo-Russia agreement, both countries can supply materials to third countries for nuclear energy.

50 Nations Ink UN Nuclear Ban Treaty

Brazil was the first country to sign onto the ban, followed by nations from Algeria to Venezuela. Before the day was out, 50 states as different as Indonesia and Ireland had put their names to the treaty. The U.S., Britain and France said the prohibition wouldn’t work and would end up disarming their nations while emboldening “bad actors”.

Google to acquire HTC’s Pixel division

Google agreed to buy part of HTC Corp.’s engineering and design teams for $1.1 billion to bolster the US internet giant’s nascent hardware business. Under the deal, Google will also receive a non-exclusive license for HTC’s intellectual property. HTC however will continue to run its remaining smartphone business. HTC is headquartered in Taiwan.

$1.5 bln autonomous driving fund

Chinese search engine Baidu has announced a 10 billion yuan autonomous driving fund as part of a wider plan to speed up its technical development and compete with U.S. rivals. The “Apollo Fund” will invest in 100 autonomous driving projects over the next three years. The fund aims to create technology for completely autonomous cars, which will be ready for city roads in China by 2020.

NPCI interim Board chairman

The Board of National Payments Corporation of India has announced the unanimous appointment of B Sambamurthy as interim Chairman of the Board. Sambamurthy replaces retiring Chairman, Balachandran M. Sambamurthy is the former Director and CEO of Institute for Development and Research in Banking Technology and Chairman and Managing Director of Corporation Bank.

Aircraft services to hilly areas

Centre is planning to start helicopter & smaller aircraft services to hilly areas, Andaman and Nicobar and Lakshadweep Islands under the second phase of UDAN scheme. The 2nd phase of UDAN seeks to connect unserved & under-served airports as well as make flying more affordable. UDAN is a regional airport development & Connectivity Scheme aimed at making air travel affordable.

Shakila passes away

Yesteryear Bollywood actress Shakila, who was known for her work in films like “Aar Paar” and “CID”, died at her residence in Mumbai after a heart attack. Besides her roles in classics like ‘Aar Paar’ and ‘CID’, Shakila also starred with Shammi Kapoor in Shakti Samanta’s hit ‘China Town’. She was suffering from multiple ailments.

Military cooperation deal

Britain and Saudi Arabia have signed a framework deal on military and security cooperation as the Riyadh regime intensifies its ongoing campaign against Yemen. The agreement comes as Britain seeks to explore lucrative trade deals outside Europe, after voting to leave the European Union. The deal comes just 2 days after Gulf rival Qatar agreed to purchase jet fighters from the European nation

International Day of Peace

Each year the International Day of Peace is observed around the world on 21 September. To inaugurate the day, United Nations Peace Bell is rung at UN Headquarters. This year, the International Day of Peace will focus on engaging & mobilizing people throughout the world to show support for refugees and migrants. This year’s theme is “Together for Peace: Respect, Safety and Dignity for All.”

‘Lab on boat’ for analysing Brahmaputra

A new project of Department of Biotechnology aims at starting a ‘lab on boat’ on Bramhaputra river for biological analysis of the river system. Project also proposes to have multiple mobile laboratories on the river & its tributaries along with providing access to local research institutions. Anchored by IIT-Guwahati, project is supported by Ministry of Development of North Eastern Region.

Revamped ‘Khelo India’ programme

Union cabinet has approved a revamped Khelo India scheme under which 1,000 selected athletes will receive an annual scholarship of Rs 500,000 each for 8 years. The programme would impact sports ecosystem, including infrastructure, community sports, talent identification & sports economy. The new scheme will focus on nurturing talent and connecting rural India to global games

MoU to upgrade Thondaman Training Centre

India & Sri Lanka have signed a MoU to upgrade Thondaman Vocational Training Centre at Hatton located in Nuwara Eliya district of Sri Lanka. Project includes construction of new infrastructure facilities as well as renovation of existing building. Project is in line with Govt of India’s efforts to assist & cooperate with govt of Sri Lanka in field of vocational training & skill development.

Environment Ministry to conduct Quiz

Ministry of Environment, Forest & Climate Change will hold a quiz on environment – ‘Prakriti Khoj’ throughout the country. Quiz is planned in 5 rounds & qualifying round will begin on 25th of this month by paying tribute to Pandit Deen Dayal Upadhyaya on his birth anniversary. Thematic areas like climate change, biodiversity, pollution, waste management etc. have been chosen for the quiz.

22^nd September 2017

Birla Group to wind up e-com venture

Aditya Birla Group will shut down its online shopping portal Abof.com by the end of this year, failing to sustain intense competition from the sector giants. Launched in 2015, Abof.com has portfolio across clothing, footwear besides a collection of group’s own brands like Allen Solly and Peter England, among others. The process of winding up would take about 4-5 months.

OECD cuts India’s FY18 growth outlook

Organisation for Economic Co-operation and Development has trimmed India’s growth forecast for the current financial year, citing impact of rollout of GST and demonetisation. According to OCED, India’s economy will likely grow 6.7% in FY18, lower than its estimate of 7.3% in June. In contrast, China’s economy gets a 0.2% lift from its earlier assessment to 6.8% for 2017.

Uber loses its licence

London’s transport authority has decided not renew Uber’s license, saying the company is not “fit and proper” to operate in the city. According TfL Uber’s approach and conduct demonstrated a lack of corporate responsibility which could have potential public safety and security implication. Some 3.5 million passengers and 40,000 drivers use the Uber app in London.

Meeting of Leftist parties

For the first time, Kerala will be hosting a meeting of all Communist & Left parties of South Asian countries at Kochi. Gathering would take place at Ernakulam & representatives of 8 Communist & Left parties from South Asian countries besides CPI & CPIM from India would take part. Main topic of discussion would be interventions of imperialistic forces & problems faced by party in the country

SBI launches bond index series

State Bank of India in partnership with FTSE Russell has brought out a new index series at the London Stock Exchange. This index will act as a key benchmark for Indian debt for foreign investors looking to invest in Indian debt market. This index is also an important enabler of India-focused funds and is expected to facilitate investment flows.

PM Modi to flag off Mahamana Express

PM Modi will flag off country’s 3rd Mahamana Express from his Lok Sabha constituency of Varanasi. It will connect Varanasi with Surat & Vadodara in Gujarat. Built under Make in India initiative, Mahamana Express currently runs on Varanasi-New Delhi & Bhopal-Khajuraho routes. The train is named after former Hindu Mahasabha president Madan Mohan Malviya, who was also addressed as ‘Mahamana’.

India INX applauded

India International Exchange has been awarded for being the fastest emerging bourse and recognised for opening up the Indian market to global traders. The award was given by Futures and Options World of the London-based Euromoney Institutional Investor. India INX aspires to achieve over USD 100 million volume threshold in the current fiscal year ending March 2018.

Campaign to sensitise women about cancer

Union minister Anupriya Patel has launched a nationwide health campaign to sensitise women about the early screening and preventive care for cancer. Themed ‘Nurturing the Nurturer’, campaign was launched by FICCI Ladies Organisation in partnership with the Apollo Hospitals group. With cancer cases on the rise in the country, government plans to set up 27 cancer centres in the coming days.

Balraj Joshi appointed CMD of NHPC

Balraj Joshi has been appointed as the Chairman-cum-Managing Director of NHPC, the country’s premier hydro power utility. The Appointments Committee of the Cabinet has approved his appointment to the post till December 31, 2019. Joshi is at present Director (Technical) in the organisation. NHPC is among the TOP TEN companies in the country in terms of investment.

Dabur India joins hand with Amazon

Dabur India has tied up with e-commerce major Amazon for an online ayurveda marketplace which will house all ayurvedic brands and products of the country. The exclusive ayurveda e-marketplace has been hosted by Amazon India and the content is developed by Dabur India. Products of other ayurvedic manufacturing companies like Patanjali and Himalaya would also feature on the marketplace.

NSE to auction investment limits

The National Stock Exchange will auction investment limits for overseas investors for purchase of government bonds worth close to ₹ 2,800 crore. The auction will be conducted on NSE’s e-bid platform from 1530 hours to 1730 hours after the close of market hours. The auction quota will give overseas investors the right to invest in debt up to the stipulated limit.

Electric Bus Service in India

Himachal Pradesh has become the first hill state in the country to run electric buses. The buses will ply on Manali-Kullu and Mandi routes during winters when the road to Rohtang is blocked with snow. Electricity charging points have been installed at Manali and Marhi. Initially, two mid-size buses with a seating capacity of 27 and 32 respectively will ply on the route.

SBI tops trust and popularity charts

According to a survey conducted by Brand Finance, State Bank of India is India’s most trusted and most popular bank. SBI is followed by HDFC Bank and Central Bank of India whereas on the popularity charts, ICICI Bank and HDFC Bank take the second and third spots respectively. Among public sector banks, SBI and Canara Bank showed high customer loyalty.

India’s official entry for Oscars 2018

‘Newton’ is India’s official entry in the Foreign Language Film category at the 2018 Oscars. Directed by Amit Masurkar, ‘Newton’, revolves around a government clerk who tries his best to conduct free and fair voting in a Naxal-controlled town. The exemplary indie drama, ‘Newton’, is played by National Award-winning actor Rajkummar Rao.

Bengal Gets $300 Million

Asian Development Bank has sanctioned $300 mn loan facility for carrying forward fiscal reforms in West Bengal. Activities under the programme include improved tax monitoring & support for IT systems in strengthening tax & land administration. Linking medium term expenditure plans to actual budgets & enhancements in integrated financial management system are also part of the reform process.

1st Indian spinner to take hat-trick

Chinaman bowler Kuldeep Yadav hs become the first Indian spinner to take a hat-trick in ODI cricket. He achieved this feat during the second match of the ongoing series against Australia at Eden Gardens, Kolkata. Yadav joined Chetan Sharma and Kapil Dev to become the third Indian to take a hat-trick in ODIs. He is also the first Indian to take a hat-trick in the U-19 World Cup.

Smriti Irani inaugurates ‘VASTRA’ fair

Union Textiles Minister Smriti Irani inaugurated the 6th edition of the international textile and apparel fair, ‘VASTRA’ in Jaipur. The textile sector employs 2nd largest workforce in the country, with 4.5 crore people directly getting livelihood from it & 2 crore people being indirectly employed. The fair would provide younger generation with an exposure to world of fashion & designing.

Scorpion class submarines to Indian Navy

Mazagon Dock has delivered first of six scorpion class submarines to Indian Navy. Named after dreaded deep sea predator Tiger Shark, INS Kalvari is 1st indigenously built submarine in 22 years. It will act as a force multiplier for the Navy by launching massive attacks through precision guided weapons. It is being built under Project-75 by Mazagon Docks with technology transfer from DCNS.

First High Horse Power Locomotive

India’s dream for high horse power locomotive moved closer to reality with arrival of 1st bodyshell of 12000 HP loco from Alstom France at Kolkata port. This first-of-its-kind high-power electric locomotive will be used to haul freight trains at twice the existing speed by next year. This is first major FDI project in the rail sector. The locomotive will run at a speed up to 120 km/h.

World’s richest woman dies

Liliane Bettencourt, L’Oréal heiress and the world’s richest woman, has died. Bettencourt was ranked the richest woman in the world with a fortune of $39.5 bn last year, making her world’s 14th richest person. Bettencourt joined her father’s company at age 15 as an apprentice & inherited his stake in 1957. Beauty brands including Maybelline, Lancôme & Kiehls are all part of L’Oréal Group.

23^rd September 2017

NATO wraps up exercise Dynamic Monarch

9 NATO Allies wrapped up a submarine search and rescue exercise, Dynamic Monarch 2017, off the coast of Marmaris in southwestern Turkey. The exercise demonstrated the importance of cooperation for NATO-led naval missions & involved a wide array of equipment & up to 1,000 military and civilian personnel. The exercise also practised complex medical operations at sea.

Intelligent transport system in India

NITI Aayog has signed an agreement with Geneva-based International Road Federation for cooperation in the field of Intelligent Transportation Systems & to design a policy framework for the same. ITS policy will cover various sectors including traffic management, electronic enforcement of traffic rules & regulations. It would also cover fleet management & monitoring & education in the field of ITS.

Int’l honour for materials research

Eminent scientist, Professor C.N.R Rao, has become the first Asian to be chosen for the prestigious Von Hippel Award for his immense contribution in materials research. The award citation noted Rao’s immense work on novel functional materials, including nanomaterials and 2D materials and superconductivity. The award is the US-based Materials Research Society’s highest honour.

China, Aus complete military drills

Chinese and Australian soldiers have completed a series of military exercises in southwestern China – the first joint drills between the two countries on Chinese soil. ‘Exercise Panda Kangaroo 2017’ lasted for 10 days and featured 10 soldiers from each country’s army. The exercises come amid rising tension in the region over Beijing’s disputed territorial claims in the South China Sea.

SpiceJet, Cleartrip team up

SpiceJet & Cleartrip have teamed up with Google Flights to help air travellers explore possible destinations & view live ticket prices. Launched in India in 2015, Google Flights offers travellers the facility to explore destinations & find best flights at affordable prices. Google relies on airlines & 3rd party data providers who chose to provide their data for inclusion into Google Flights.

Sindhu jumps to World No 2

Indian shuttler PV Sindhu has jumped two places to World No 2 in the latest Badminton World Federation women’s singles rankings. This is the second time in her career that Olympics silver medallist has occupied the second spot. Chinese Taipei’s Tai Tzu Ying retained her top spot while London Olympics bronze winner Saina Nehwal was static at the 12th spot.

Iran tests new ballistic missile

Iran has “successfully” tested a new ballistic missile that can carry multiple warheads and can travel up to 2,000km. The move was a direct challenge to US President Donald Trump, who in August signed a bill imposing mandatory penalties on those involved in Iran’s ballistic missile programme. This is the third Iranian missile with a range of 2,000 km.

Subramanian to get extension as CEA

The government has decided to extend the term of Chief Economic Adviser Arvind Subramanian by one year until October 2018. Subramanian was appointed India’s Chief Economic Adviser in October 2014. His term was for three years, which was to end on October 16. The CEA is the main go-to person for advice for the finance minister on macroeconomic matters.

RBI eases foreign investment rules

RBI has eased rules governing foreign investment in corporate bonds by excluding rupee-denominated securities from its overall debt limit The move potentially freed up 440bn rupees of debt available to offshore investors. Rupee-denominated bonds known as masala bonds will now come under rules for external commercial borrowings.

Mary Kom to be AIBA representative

Olympic bronze-medallist M C Mary Kom has become the first Indian to be picked as International Boxing Association’s representative for IOC Athletes’ Forum. She has been invited to attend the 8th International Olympic Committee’s Athletes’ Forum in Lausanne from November 11 to 13. Mary Kom is an Asian Games gold-medallist besides being a multiple-time Asian champion.

Jake LaMotta Passes Away

Jake LaMotta, the legendary former world middleweight boxing champion whose wildlife and times inspired the Oscar-winning movie “Raging Bull,” has died at age 95. In a career spanning 1941 to 1954, LaMotta racked up a record of 83 victories, 30 of them knockouts, against 19 defeats. His stamina in the ring, which he honed during a prison sentence, earned him the nickname “The Bronx Bull”.

World Congress on Adolescent Health

India will next month host the World Congress on Adolescent Health, billed as the biggest global event in adolescent health this year. Tobacco, alcohol & other substance use which contribute to health concerns among adolescents along with unemployment, depression & suicide will be discussed. The theme of the Congress this year is ‘Investing in Adolescent Health the Future is Now’.

Mudit Dani wins Under-23 TT tournament

Mudit Dani has won the under-23 title in the prestigious 2017 Butterfly Badger Open in Milwaukee in Wisconsin. Mudit Dani defeated Polish-born Wojciech Wolski 9-11, 11-7, 8-11, 12-10, 11-7 in the final to clinch the title. Fifth-seeded Mudit sailed through his group, winning all his three matches in style.

Hui Ka Yan Becomes Asia’s Richest Man

Hui Ka Yan, the chairman of big China real estate developer China Evergrande Group, has become Asia’s richest man. Hui’s estimated fortune of $42.2 billion puts him ahead of Tencent Holdings Chairman Ma Huateng ($39.1 billion) and Alibaba Group Chairman Jack Ma ($38.9 billion). Hui’s wealth advance has been driven by an extraordinary rally in Hong Kong-listed Evergrande’s share price.

First LPG Panchayat in Gandhinagar

Union Minister for Petroleum & Natural Gas Dharmendra Pradhan will inaugurate LPG Panchayat, aimed at encouraging rural communities to turn to clean fuel. The first LPG Panchayat will be held in Gandhinagar, where Pradhan will preside over interaction b/w women using LPG under PMUY & the companies. The Centre plans to organise one lakh LPG Panchayats across the country.

Coast Guard commission interceptor boats

Indian Coast Guard has commissioned 2 high-speed interceptor boats fitted with a 12.7 mm machine gun at Dighi Port in Mumbai. C-433 & C-434 boats built by L&T Shipbuilding are 27.42m long & have a displacement of 136 tons each. The vessels were designed for a high-speed interception, close coast patrol, low-intensity maritime operations, search and rescue and maritime surveillance.

China imposes limit on oil supply

China has announced that it will limit oil exports to North Korea under UN sanctions over its nuclear & missile development. Exports of refined petroleum to North Korea will be limited to 2mn barrels per year & sales of liquefied natural gas will be banned outright, effective Jan 1. China will also ban textile imports from Korea which is one of North’s last major sources of foreign revenue.

Sound-based payment solution

Infosys has announced the partnership with ToneTag to offer sound-based payment solution to bank customers using its financial product Finacle. It will enable banks to allow their customers to authenticate transactions at their branches, ATMs & retail outlets. The sound-based technology will enable an exchange of information for payment processing between PoS machines & consumers’ phone.

Magow rejoins Flipkart board

Rajesh Magow, chief executive and co-founder of MakeMyTrip, has rejoined the board of Flipkart, a little over two years after stepping down from the same. Magow had first joined Flipkart’s board in March 2011, months after Flipkart’s first major fundraising from Tiger Global. Magow helped take MakeMyTrip public in 2010, making it the first Indian Internet firm to list its shares in the US.

‘Food Street’ at global food fair

The government has decided to introduce a curated food experience zone ‘Food Street’ at the global food fair in November in New Delhi. The global food event, which is being held in India for the first time, aims to attract more investment in the food processing sector. Chef Sanjeev Kapoor will be the brand ambassador of the event at the global food fair.

24^th September 2017

Roadmap for making body armours

Niti Aayog has been asked to set up an inter-ministerial empowered committee to prepare a roadmap to ‘encourage domestic manufacturing’ of lightweight body armours for army & para-military forces. Committee will be headed by Niti Aayog member V K Saraswat and will have representatives from DRDO, DIPP, Ministry of Defence & Home Affairs. India is a major producer & exporter of body armour.

Govt to set up 5 scrap-based steel plant

Govt is planning to set up 5 scrap-based steel plants at an investment of Rs500 cr within a year to ensure that a chunk of country’s targeted 300mt steel output is met through scrap. The country’s annual scrap requirement is 5-6 mt, which at present is done through imports. By 2030 around 30-40 million tonnes of steel would be made from scrap.

Mobile phone ban on Rohingya refugees

Bangladesh has banned telecom companies from selling mobile phone connections to Rohingya refugees, citing security concerns for the latest restrictions. Bangladesh’s 4 mobile phone providers were threatened with fines if they provide any of the nearly 4,30,000 newly-arrived refugees from Myanmar with phone plans Ban could be lifted once biometric identity cards were issued to these refugees

Probe into Sri Lanka cricket

The International Cricket Council has launched an anti-corruption investigation in Sri Lanka. ICC, however, did not specify if any particular series involving the country is under the scanner. ICC statement came a day after Sri Lanka Cricket said that 40 of its contracted players called for an immediate inquiry into certain “shocking” allegations made by the selector, Pramodya Wickramasinghe.

Amazon buys 5% equity in Shoppers Stop

Shoppers Stop has approved a proposal to sell 5% equity in the company for Rs179.25 cr to Amazon NV Holdings LLC. Shoppers Stop will use the funds to continue its investments in expanding physical and online retail businesses. The two retailers will conduct “joint marketing” initiatives while Shoppers Stop will open Amazon Experience Centres where Amazon can showcase its brands.

Books on Indian culture, morals now must

Books on Indian culture & morals are now to be displayed for sale at all platform kiosks, a new stall policy to all zonal railways has mandated. Railway Board has instructed all general managers to ensure that such books are found in stalls, under its new Multi-Purpose Stall policy. The policy supersedes Bookstall Policy of 2004 which mandated that stalls will keep books on varied subjects.

Naidu declares 2017 as e-pragati year

Andhra Pradesh Chief Minister N. Chandrababu Naidu has declared the year of 2017 as e-pragati year. Naidu said that all districts must come under the purview of the flagship programme that will help the government make real-time governance. The announcement was made by N. Chandrababu Naidu while Addressing the second day of the Collectors’ Conference.

Govt unveils new PPP policy

Govt. has announced new public-private partnerships to promote private investments in affordable housing in line with its Housing for All target by 2022. 8 PPP options for the private sector to invest in affordable housing segment were announced by the minister of housing & urban affairs Hardeep Singh. The assistance of up to Rs.2.50 lakh per house will be available for building houses on private lands.

Federer & Nadal win first doubles match

Roger Federer and Rafael Nadal played as doubles partners for the first time on the second day of the inaugural Laver Cup in Prague. They defeated Americans Sam Querrey and Jack Sock 6-4 1-6 (10-5) to give Team Europe a 9-3 lead. The two picked up two Grand Slam titles each this year, as Federer won Australian Open and Wimbledon, while Nadal picked up the crowns at the French and US Open.

‘Fly Now Pay Later’ Scheme

UAE’s carrier Etihad Airways has launched a ‘fly now and pay later’ scheme which provides people with an option of paying ticket fare in monthly instalments. The initiative is designed to allow families to book flights with convenience. Instalments can be paid within 3 to 60 months, with 17 participating banks. Etihad Airways is the 1st in Gulf region to offer fully automated online instalment plans

President Kovind’s first foreign trip

President Kovind will make his 1st foreign trip as head of state to the strategically-significant African continent in October. The presidential visit to Ethiopia & Djibouti is seen as a reiteration of importance govt gives to the continent where Chinese have made considerable inroads. Addis Ababa, capital of Ethiopia is the seat of African Union, had hosted 1st India-Africa summit outside India in 2012

Housing scheme subsidy extended

Centre has decided to extend interest subsidy of Rs2.60 lakh on home loans for Middle Income Group up to March 2019 under govt’s ‘Housing for All’ programme. Under the new scheme, those with an annual income of up to Rs12 lakh can avail a 4% interest subsidy on a loan of Rs9 lakh. Initially, the scheme was available for beneficiaries under the “middle class” category until December 2017 only.

India, US, Afghanistan join hands

For the 1st time, India, US & Afghanistan will hold a joint trade & investment show in Delhi next, as New Delhi steps up to its role of being a bigger development partner to Afghanistan. The event sponsored by US & hosted by India will be inaugurated by Afghan CEO Dr Abdullah. Abdullah will be accompanied by a 50-member delegation consisting of 4 deputy ministers & team of business leaders.

Saudi allows women into stadium

Saudi Arabia has allowed women into a national stadium for the first time as it launched celebrations to mark the 87th anniversary of its founding. This marks a shift from previous celebrations in the kingdom where women are effectively barred from sports arenas. This measure represents another step into relaxing some norms as part of its “Vision 2030” plan for economic and social reforms.

Pralay Sahayam Held in Hyderabad

A multi-agency exercise was conducted on the banks of Hussain Sagar Lake as the final event of Pralay Sahayam in Hyderabad. The event demonstrated efforts of all central & state agencies, NDRF & Armed Forces towards jointly tackling an urban flooding scenario in Hyderabad. The exercise brought out role & function of the State Emergency Operations in coordinating conduct of the joint operations.

Modi dedicates Deendayal Hastkala Sankul

PM Modi dedicated to the nation, Deendayal Hastkala Sankul – a trade facilitation centre for handicrafts at Varanasi. It aims to develop & promote handlooms, handicrafts & silk products of Varanasi. It will help entrepreneurs of Varanasi in strengthening their marketing activities in domestic as well as international markets & in carrying forward the rich tradition of handlooms at Varanasi.

Acko gets final IRDA license

Indian insurance sector regulator IRDAI has given the final nod to online non-life insurer Acko General Insurance. The company is looking to start operations by Dec selling mostly auto, travel & health insurance products to retail customers through an online channel. The company backed by Narayana Murthy’s Catamaran, Accel Partners among others are starting with an initial capital of Rs 200 Cr.

Rajiv Mehrishi to be next CAG

Former home secretary Rajiv Mehrishi will take over as the Comptroller & Auditor General succeeding Shashi Kant Sharma. Mehrishi, a 1978 batch IAS officer of Rajasthan cadre, completed his 2-year fixed term as home secretary last month. Before appointed as the home secretary, he worked as economic affairs secretary & chief secretary of Rajasthan. He will have a tenure of about 3 years.

India 3rd in nuclear power installations

According to the World Nuclear Industry Status Report 2017, India is third in the world in a number of nuclear reactors being installed, at six, while China is leading at 20. In India, five out of the six reactors under construction is behind schedule. The share of nuclear energy generation stagnates globally, and several countries shut down nuclear reactors in 2017.

Mukund wins title in ITF Futures  

Top-seed Sasi Kumar Mukund has won his 2nd straight Futures title, beating compatriot Arjun Khade 6-3, 6-4 in singles final of LMW ITF Men’s Futures tennis tournament. Mukund, ranked 501 in ATP list currently, quelled the challenge of the big-serving Khade, who had done well in the two previous Futures events in Chennai. Earlier Mukund & Khade had teamed up for doubles but lost in the final.

25^th September 2017

Debroy to head Modi’s Advisory Council

Niti Aayog member Bibek Debroy will head the Economic Advisory Council constituted by PM Modi. The council will analyse any issue economic or otherwise referred to it by the Prime Minister and will advise him on it. The council has 3 part-time members – Surjit Bhalla, Rathin Roy, Ashima Goyal. Niti Aayog Principal Advisor Ratan Watal has been appointed as Member-Secretary of the council.

BDL to supply MRSA Missiles

Bharat Dynamics Limited, a defence PSU has a signed contract with Research Centre Imarat for supply of Medium Range Surface-to- Air Missiles to Indian Army. The contract has been signed for production, deliveries and product support of MRSAM system for the Indian Army. Bharat Dynamics is one of India’s leading manufacturer of ammunitions and missile systems.

Saubhagya scheme for electrification

The government has launched the Saubhagya scheme to provide last mile electricity connectivity to all rural and urban households in the country. The states will be required to complete the household electrification by March 31, 2019. The scheme will be funded by a 60% grant from the government, with the states contributing 10% and the remaining amount will be covered by loans.

Most valuable brands list

Apple and Google have once again take the two top spots in a list of the world’s 100 most valuable brands, according to rankings by consultancy group Interbrand. Technology is one of the most dominant sectors on the list, with 15 tech firms making it into the rankings. It is for the first time social media giant Facebook made it to the top 10 brands list.

IDBI Bank sells 1% stake in Sidbi

IDBI Bank has sold 1% stake in Small Industries Development Bank of India for an undisclosed amount in a bid to mobilise funds by exiting non-core business. The bank sold 53,19,220 shares constituting 1% of paid up capital of Sidbi. Sidbi was originally 100% owned by IDBI, when it was a term lending institution. Later it divested 51% stake in favour of govt owned banks & insurance companies.

Pakistan, Russia hold military exercise

Pakistan and Russia are holding 2 week long joint military drill focussing on counter- terrorism operations to enhance military ties between the two countries. The joint exercise DRUZBA 2017 between special forces of Pakistan and Russia Armies started in Minralney Vody, Russia. Last September, a contingent of 100 Russian troops had taken part in joint exercises in Pakistan.

SBI launches chatbot

Artificial intelligence banking platform Payjo has launched an AI-powered chat assistant for State Bank of India to addresses customer enquiries. The chat assistant, known as SBI Intelligent Assistant, or SIA, will help customers with everyday banking tasks just like a bank representative. SIA has been set up to handle nearly 10,000 enquiries per second, or 864 million in a day.

Shinzo Abe to dissolve lower house

Japanese PM Shinzo Abe has said he would dissolve Parliament’s lower house for a snap election, as he seeks a fresh mandate to overcome “a national crisis.” Abe said he needed a fresh mandate to proceed with plans to use tax hikes to increase social spending & take a tough stance towards North Korea. Abe is thought to be looking to capitalise on improved ratings and opposition disarray.

East Bengal wins CFL title

East Bengal registered a record-extending eighth consecutive Calcutta Football League title by holding Mohun Bagan to a 2-2 draw. East Bengal have won all the CFL titles since 2010. They have a total of 39 CFL titles – a record haul. East Bengal needed a draw to seal the deal with both teams being on the same number of points (22).

RIL becomes world’s 3rd largest

Reliance Industries has jumped 5 places to rank as world’s 3rd-biggest energy company behind Russian gas firm Gazrpom & German utility E.ON, according to Platts Top 250 Global Energy Company Rankings. Reliance, the owner of world’s biggest refinery complex, was ranked at 7th position last year. Russia’s Gazprom snagged the number 1 spot, ending ExxonMobil’s 12-year reign at top of the list.

Australia announces new space agency

Australia will create its own space agency in an attempt to cash in on a $420 billion aeronautical industry and create thousands of new jobs. A national space agency will ensure a strategic long-term plan that supports the development and application of space technologies and grows the domestic space industry of Australia. Most developed nations have a space agency, including New Zealand.

Team Europe wins Laver Cup

World number 2 Roger Federer handed Team Europe the maiden Laver Cup title after beating Team World’s Nick Kyrgios in a tie-break. Federer won 4-6, 7-6 (6), 11/9 to give Team Europe an unbeatable 15-9 lead. Team Europe were odds-on favourites with 5 of world’s top 7 players. Nadal suffered a 7-5 7-6 loss to Isner forcing him to hand the baton to team-mate Federer, who eventually got the job

World’s heaviest woman dies

Eman Abdul Atti, an Egyptian national believed to be ‘world’s heaviest woman’, died in a hospital in UAE due to complications from her weight, including heart disease & kidney dysfunction. She weighed roughly 500 kg when she arrived in India, but had lost 323 kg since undergoing a series of medical procedures. She had been under the supervision of over 20 doctors from different specialities.

New US travel ban

US President Donald Trump has issued a new travel ban that saw North Korea, Venezuela and Chad among a list of 8 countries cited for poor security & lack of cooperation with US authorities. Sudan, one of the six majority-Muslim countries on the original travel ban, was removed from the list. Under the new restrictions, 8 nations now have complete or partial blocks on travel to the US.

Merkel wins fourth term

Angela Merkel is set for a 4th term as Germany’s chancellor after her centre right CDU/CSU won a projected 33% of the vote in federal election. Her conservative CDU/CSU bloc has seen its worst result in almost 70 years but will remain the largest in parliament. Far-right AfD stunned the establishment by finishing third & entering parliament for the first time with 13.5% of the vote.

P.V. Sindhu for Padma Bhushan

Olympic silver medallist shuttler P.V. Sindhu has been recommended for the prestigious Padma Bhushan by the Sports Ministry. World No. 2 Sindhu has been in stellar form since winning a silver medal at Rio Olympics and is the second athlete after MS Dhoni to have been nominated for the honour this year. In March 2015, Sindhu was awarded India’s fourth highest civilian honour, the Padma Shri.

Kapadia to be the next CFO at Tata Sons

Eruch N Kapadia will be the next chief financial officer at Tata Sons, the holding company that controls India’s oldest and biggest conglomerate. Kapadia, a chartered accountant and a cost accountant, takes over from the recently superannuated chief operating officer (COO) F N Subedar. Kapadia is a Tata Group veteran and was vice-president at Tata Sons.

SBI to teach bankers

SBI is planning to throw open its new banking personnel training institute for employees of other banks in India & other South East Asian countries. The institute will impart leadership training to people in the mid-managemnet level & above with thrust on risk mitigation, banking regulation and technology. The focus will be on action-based and result-oriented research and capacity building.

Vaishnavi clinches Belgian Junior title

Indian shuttler Vaishnavi Reddy has clinched the women’s singles Under-19 title at the Belgian Junior Open badminton tournament. She defeated top seed Vivien Sandorhazi in a three-game final at Herstal. Second seed Reddy saw off Vivien 21-19, 17-21, 21-12 in a 42-minute summit clash at the Hall Omnisport La Prealle.

57th National Open Athletics

The 57th National Open Athletics Championships will begin at Jawaharlal Nehru Stadium in Chennai. Around 1200 athletes from various states & departments/PSU would be taking part in the meet. Among the institutions to be represented include All India Police Sports Board, ONGC, LIC, apart from Railways & Services. The participants include country’s top track & field athletes.

26^th September 2017

NAREDCO elects Niranjan Hiranandani

Niranjan Hiranandani has been elected as the new president of realtors body NAREDCO. Niranjan Hiranandani is the founder-chairman of Mumbai- based Hiranandani Group and CMD, Hiranandani Communities. National Real Estate Development Council, a leading industry body of real estate sector, is under the aegis of Ministry of Housing and Urban Affairs.

New Shareholders of SWIFT India

SWIFT India, that enables trillions of dollars transfers each day has announced that Citibank & Standard Chartered Bank have joined Indian services as shareholders. SWIFT India was formed in 2012 as a joint venture of SWIFT SCRL & 9 banks in India, for domestic financial community & by the community. Shareholders of SWIFT India currently comprise of Axis, BOB, BOI, Canara Bank to name a few.

Warehousing receipts in e-format

Food Minister Ram Vilas Paswan has rolled out negotiable warehousing receipts in an electronic format that farmers can use to avail of bank credit easily. Negotiable warehouse receipt allows transfer of ownership of that commodity stored in a warehouse without having to deliver the physical commodity. These receipts are issued in the negotiable form, making them eligible as collateral for loans.

Rajnath Singh launches PENCIL Portal

Rajnath Singh has launched a web portal called ‘PENCIL’ for effective implementation of National Child Labour Project. PENCIL, Platform for Effective Enforcement for No Child Labour, developed by Labour Ministry, is an electronic platform for no child labour. PENCIL portal has 5 components – Child Tracking System, Complaint Corner, State Govt, National Child Labour Project & Convergence.

Railway line between India, Nepal

After remaining non-functional for the last 3 years the Janakpur-Jayanagar Railway line connecting Nepal and India is expected to become functional by 2018. It is the only railway line that once used to link India with Nepal but after 2014 its service got discontinued. The project will be completed in three phases and is estimated to cost Rs. 5.48 billion, mostly aided by Indian Government.

INS Tarasa commissioned into Indian Navy

INS Tarasa, a Water Jet Fast Attack Craft has been commissioned into the Indian Navy It is 50 m long & powered by 3 waterjets which give it speeds of over 35 knots It is armed with a 30 mm main gun indigenously built & a no. of medium & heavy machine guns to undertake coastal defence operations It is the 2nd ship of Indian Navy to be named INS Tarasa. The 1st was in service from 1999 to 2014

Govt eyes 5G roll out by 2020

Govt has set up a high-level 5G committee with a mandate to lay down a roadmap for rollout of the technology by 2020. Under the 5G technology, the government aims to deliver about 10,000 megabits per second in urban areas and 1000 Mbps in rural locations. The 5G forum will comprise secretaries from Department of Telecom, Ministry of Electronics and IT & Department of Science and Technology.

Mudra Promotion campaigns

To accelerate self-employment opportunities, Finance Ministry has decided to organise Mudra promotion camps across the country beginning Sep 27 from PM’s constituency Varanasi. The campaign will help promote not only Mudra loans but also spread awareness about digital payment method, financial inclusion and social security schemes. 50 camps, including 1 each in state capitals, will be organised.

Nooyi, Kochhar, Shikha on biz women list

2 Indians Chanda Kochhar & Shikha Sharma have made it to the rankings of most powerful women in business outside the US drawn up by Fortune magazine. The list which was topped by Banco Santander group Executive Chairman Ana Botin, placed ICICI Banks Kochhar at 5th spot while Axis Banks Sharma has been ranked 21st. PepsiCo CEO Indra Nooyi came in at No. 2 on US Most Powerful Women in Business list

ICC’s new rules to come into effect

ICC’s revamped playing rules are all set to become effective in all series starting September 28. Significant changes include a restriction on the dimensions of the bat & changes to Decision Review System. ICC playing conditions will now incorporate relevant clauses from MCC Laws of Cricket (2017 Code), meaning that all the playing regulations will be captured in 1 document for each format.

Banaj Devi to receive Sarala award

Noted Odia poet and short story writer Banaj Devi will be honoured with the 38th edition of the prestigious Sarala award. She will be honoured for her short story compilation ‘Kathapua’. The annual Sarala Puraskar, recognised as one of the foremost literary awards of the State, comprises a cash award of ₹5 lakh along with a citation.

SBI opens new branch in Singapore

State Bank of India has opened its sixth branch in Singapore, extending its services in the country’s heartland. The new branch has come up in Ang Mo Kio area, which is popular for its housing estates. The SBI offers the highest interest rates on deposits among other banks in Singapore, handles wealth management, insurance and rupee remittances among a wide range of services.

Shashi Shankar appointed CMD of ONGC

Shashi Shanker has been appointed as the chairman and managing director of India’s biggest oil and gas producer ONGC. Shankar, at present director (technical and field services), ONGC, will take over the charge as CMD from October 1. He will replace Dinesh K Sarraf, who retires on September 30, upon attaining superannuation age. Shankar will have a nearly 4-year term until March 2021.

Tyagi named among world’s top regulators

According to a report, Sebi Chairman Ajay Tyagi has been named among the top 10 regulators in the world. Tyagi, who took over the reins of SEBI this year, has been ranked at 7th position among the top 10 regulators worldwide. Rankings are part of World’s Most Influential People in Market Structure, also known as Exchange Invest 1000. The list is topped by EU’s Commissioner Margrethe Vestager

Mars Orbiter Mission completes 3 years

ISRO’s low-cost Mars Orbiter Mission has completed 3 years in its Martian orbit. The 450 cr MOM mission aims at studying Martian surface & mineral composition. It will scan its atmosphere for methane which is an indicator of life on Mars. ISRO had launched the spacecraft from Sriharikota in Andhra Pradesh on Nov 5, 2013. Scientific analysis of data received from the spacecraft is in progress

ADB Downgrades India’s Growth Projection

Asian Development Bank has downgraded India’s growth projection to 7% for the current fiscal while lowering its forecast for the next financial year as well. In the financial year 2018-19, the forecast has been adjusted down to 7.4%, from 7.6%. Demonetisation and implementation of the new goods and services tax regime have dented consumer spending and business investment.

Infosys Foundation Signs MoU With IISc

Infosys Foundation has signed a Rs 5 crore MoU with Indian Institute of Science, Bangalore to enhance infrastructure & broaden research activities at centre for Infectious Diseases Research. The grant will be used towards research, training and creating awareness, about infectious diseases. IISc is a university for research & higher education in all science & engineering disciplines.

First social, people-to-people dialogue

The first social & people-to-people dialogue b/w China & US will be held in Washington. Chinese Vice Premier Liu Yandong will co-chair the dialogue with US Secretary of State Rex Tillerson. The meeting is one of the four high-level dialogues established during the summit b/w Xi Jinping & Donald Trump. The two sides will exchange views on bilateral issues and cooperation in relevant areas.

Vision-2025 project

Karnataka govt has launched ‘Vision-2025’ project aimed at evolving a draft policy for the development of the state in next 7 years by seeking an opinion of the public. Officials will collect required information after discussing with public representatives and the general public. They will then bring out a draft vision policy for the year 2025. Karnataka will face the Assembly elections early next year.

SBI lowers min balance

SBI has lowered the minimum average monthly balance, requirement in a savings account to Rs. 3,000 from Rs. 5,000 and also revised downwards penalties for non-adherence. Bank has decided to treat metro & urban centres in the same category. Bank has also decided to exempt pensioners, beneficiaries of social benefits from govt & minors from the requirement of minimum balance in savings account

27^th September 2017

Mega internal security scheme

Govt has approved a Rs 25,000-crore mega internal security scheme to strengthen country’s law & order mechanism, mordernise police forces & effectively fight against terrorism. It would bolster govts ability to address challenges faced in different theatres such as areas affected by LWE, Jammu & Kashmir & Northeast effectively. This is the biggest ever internal security scheme in the country

Exim Bank under BRICS mechanism

Cabinet has approved signing of interbank local currency credit line agreement & cooperation memorandum relating to credit ratings by Exim Bank with member banks under BRICS Interbank Cooperation Mechanism. It aims to promote multilateral interaction within the area of mutual interest among BRICS nations Exim Bank finances, facilitates & promotes India’s international trade.

ADB plans to raise annual lending

Asian Development Bank is planning to raise annual lending to India to a max of $4 bn per year during 2018-22 to accelerate inclusive economic transformation. ADB will focus on boosting economic competitiveness to create well paid jobs, improved access to infrastructure & addressing climate change. In private sector, it will support transport, power and affordable housing among others.

Viazovska to receive SASTRA Ramanujan

Maryna Viazovska of Swiss Federal Institute of Technology, Lausanne, will receive 2017 SASTRA Ramanujan Prize for her contribution to number theory. She was awarded for her stunning & elegant resolution of celebrated sphere packing problem in dimension 8. SASTRA Ramanujan Prize is awarded annually for outstanding contributions by young mathematicians to areas influenced by Ramanujan.

India Mobile Congress 2017

Minister of Communication Manoj Sinha will launch DoT’s 1st ever Mobile, Internet & Technology event in India – India Mobile Congress 2017 in New Delhi. It will be a congregation to display, discuss, unveil, educate and recognise the importance of the global and Indian telecommunications. About 150 foreign delegates and 8 embassies including US, UK & Israel are participating in the event.

Airtel deploys Massive MIMO

Bharti Airtel has announced the deployment of India’s first Massive Multiple-Input Multiple-Output (MIMO) technology which is a key enabler for 5G networks. It is a pre-5G technology that will make network future ready for meeting data demand coming from digital revolution & data explosion in India. It helps in improving coverage & reducing interference across users in different beams.

RBI caps bank investments

RBI has capped bank investments in private equity funds at 10% while completely prohibiting investments into hedge funds. RBI also permitted banks’ subsidiaries to provide commodity broking services and be a professional clearing member which are subject to risk control measures. Banks can offer broking services to clients on Sebi registered commodity exchanges like MCX & NCDEX.

Maharashtra signs MoU with South Korea

Maharashtra CM Devendra Fadnavis has signed a MoU with South Korean govt seeking assistance in several infrastructure projects planned in the state. MoU will result in increased cooperation for infrastructure projects like development of smart cities, roads, airports, metro etc. Fadnavis also seeked special assistance for his brain child project the Mumbai-Nagpur Samruddhi Corridor project.

Global competitiveness index.

India has been ranked as the 40th most competitive economy slipping 1 place from last year’s ranking on World Economic Forum’s global competitiveness index. On the list of 137 economies, Switzerland is followed by US & Singapore in 2nd & 3rd places, respectively. India’s performance improved in ICT indicators, particularly Internet bandwidth per user, mobile phone & broadband subscriptions.

Best places to work in India

Google, BHEL and State Bank of India have been named as the top three best places to work in India by leading global job site Indeed. While Amazon grabbed the 4th place, Marriott International was ranked 5th and Intel 6th. The ranking is on the basis of both overall and across individual categories as determined by reviews left by visitors on individual company pages.

Centre launches ‘Divyang Sarathi’

Social Justice & Empowerment Minister Thaawarchand Gehlot launched the Beta version of ‘Divyang Sarathi’, aiming to provide all relevant information pertaining to persons with disabilities. The app would have every information on acts, rules, schemes, employment opportunities, and the disability market. The unique feature is that it converts the written information into an audio file.

Kandla Port renamed as Deendayal Port

The Ministry of Shipping has issued a notification renaming Kandla Port Trust as Deendayal Port Trust with effect from 25th of September, 2017. Kandla Port, located on the Gulf of Kutch in Gujarat, is one of the 12 major ports in the country. The port’s journey began in 1931 with construction of a jetty by Maharao Khengarji. It is the largest port of India by volume of cargo handled.

’Incredible India’ campaign launched

India has launched a campaign to woo Egyptian travellers & make them aware of the magnificent holiday options in the country. As part of the campaign, 12 buses of transport authority will showcase various tourist destinations in India, including culture, festivals, monuments, landscape, wildlife, people & food. This campaign also aims to connect tour operators of both the countries.

India to host South Asian boxing C’ship

India will be hosting the South Asian boxing Championship for the first time in Guwahati from December 6 to 10. Pak, Afghanistan, Sri Lanka & Bangladesh will participate in Championship with other SARCC countries. South Asian Championship will be followed by India International Open tournament, the tournament will witness participation from Uzbekistan & Ukraine among other top boxing nations

Lourenco sworn in as president of Angola

Joao Lourenco has been sworn in as president of Angola, becoming the first new leader in the oil-rich southern African nation in almost 4 decades. Lourenco, took over from Jose Eduardo dos Santos, who ruled the former Portuguese colony for 38 years. People’s Movement for Liberation of Angola has governed since Angola’s independence from Portugal in 1975, with Dos Santos taking power in 1979.

World Tourism Day

World Tourism Day is commemorated each year on 27 Sept to foster awareness among international community of importance of tourism & its social, cultural & economic value. The theme of this year’s World Tourism Day is ‘sustainable tourism – a tool for development’. The day will be dedicated to exploring the contribution of tourism to the Sustainable Development Goals.

Saudi Arabia to allow women to drive

Women in Saudi Arabia will be allowed to drive, ending their reign as the only nation in the world where women were forbidden from getting behind the wheel of a car. A committee has been formed to implement the ruling & will present recommendations within 30 days. Saudi leaders also hope the new policy will help the economy by increasing women’s participation in the workplace.

Most powerful’ nuclear icebreaker ship

Russia has floated out the world’s largest nuclear-powered icebreaker ship “Sibir” as the country moves to reinforce its leadership in the Arctic. It is one of the three vessels part of Project 22220 which are to become the world’s largest and most powerful nuclear icebreakers. It is powered by two nuclear reactors and will be able to break ice fields up to three metres thick.

Flipkart acquires F1 Info Solutions

E-commerce major Flipkart has acquired mobiles and IT products repair services company, F1 Info Solutions for an undisclosed amount. F1 is a service partner of brands like Apple, Samsung, HP, Lenovo, Sony and Asus among others. The company will be a part of Jeeves, a Flipkart firm that provides third party service for large and small home appliances and furniture.

IDBI Bank launches ‘Project Nishchay’

IDBI Bank has launched ‘Project Nishchay’ in partnership with The Boston Consulting Group to accelerate its turnaround programme and improve financial performance. The Bank will focus on four key areas – revenue enhancement, cost control and reduction, asset productivity and overall program management in consultation with BCG. IDBI Bank posted a net loss of Rs853 crore in the June quarter.

28^th September 2017

MoU signed between BSNL and ZTE

BSNL has signed a MoU with Chinese gear maker ZTE at Indian Mobile Congress 2017. Both the parties will work together & prove key technologies like Pre5G & 5G wireless systems to make a virtual network architecture of a 5G eco system for research & commercialization in India. 4G/5G technologies & smartphone usage in India is developing quickly towards building of an IoT & AI centric ecosystem

Destruction Of Chemical Weapons

Russia has liquidated the last arsenals of chemical weapons in the Southwest of the country, 3 years ahead of schedule. In 2010, Moscow set a 2015 target date for eliminating its chemical stockpile and later extended it to 2020. Russia & United States are parties to the Chemical Weapons Convention, which required them to destroy their stockpiles by 2007 with a potential extension until 2012.

Makhan Lal Fotedar passes away

Veteran Congress leader Makhan Lal Fotedar passed away. A close associate of former PM Indira Gandhi, Fotedar was her political secretary from 1980 to 1984. He also served as Rajiv Gandhi’s political secretary for 3 years. Fotedar also was a member of the powerful Congress Working Committee, the highest decision-making body of the party. He also authored a book called ‘The Chinar Leaves’.

First woman to senior government post

A Saudi woman has been named to a senior government post for the first time, shortly after a ban on women drivers was lifted. Eman Al-Ghamdi was appointed as the assistant mayor of Al Khubar governorate. Al-Ghamdi was given the post “as part of plan to boost the number of females in leadership positions in line with Vision 2030.

190th Raising Day

The Regiment of Artillery, which has proved its mettle in various operations during war times, today celebrated its 190th Raising Day. The second largest arm of the Indian Army was raised on this day in 1827. Since 1980s, gunners – as artillery men are referred to have been fighting shoulder to shoulder with infantrymen in counter-insurgency operations in Punjab, Jammu & Kashmir & North East

Mobile towers to come up in cantonments

Union Cabinet has approved installation of telecom towers in all army cantonments to improve mobile phone connectivity in the Cantonments and Military Stations. The revised policy will cover allotment of defence land on lease and grant of permission in defence areas to companies registered with DoT. The move will improve the quality of communication services in cantonment and military areas.

‘Best Tourism State’ award

Madhya Pradesh has won the ‘Best Tourism State’ national award for the third consecutive year. The state bagged total 10 awards in this programme, organised on the occasion of World Tourism Day. While Chanderi was adjudged as the Best Heritage City, the Best Tourist-Friendly Railway Station award was given to Ujjain Railway Station.

First woman chief proctor

Under the scanner for an unsafe atmosphere for women on the campus, the Banaras Hindu University has appointed a woman as its chief proctor. Professor Royana Singh, who will hold the post, is a professor in the Anatomy Department of the Institute of Medical Sciences. She takes charge after O.N Singh resigned from the post, taking “moral responsibility” for the lathi charge on students.

Bank of Baroda cuts base rate

Public sector Bank of Baroda has slashed the bank rate and has revised BPLR. he base rate, minimum rate below which a bank cannot lend, has been revised downward from existing 9.50 per cent per annum to 9.15% per annum from October 1, 2017. Benchmark prime lending rate, the method which charges interest on credit worthiness of customers, has been cut to 13.45% per annum from next month.

Anti-superstition Bill

The Karnataka Cabinet has cleared the Karnataka Prevention and Eradication of Inhuman Evil Practices and Black Magic Bill, 2017, known as anti-superstition Bill. Bill has provisions to deal strongly with cruel practices, such as human sacrifice, witchcraft, & sexual exploitation by invoking supernatural powers. The bill explicitly exempts vaastu & astrology from being considered superstition

Air India ties up with PNB, IndusInd

Air India has tied up with PNB & IndusInd to secure loans to the tune of over Rs 3,000 crore for meeting working capital requirements. Funds will be used for repayment of dues to airport operators, oil companies & other vendors. Under a turnaround plan approved by previous govt, Air India is to receive up to Rs 30,231 cr from govt subject to meeting certain performance thresholds.

Retirement age of govt doctors raised

Union cabinet has increased the retirement age of central govt doctors to 65 years with an aim to meet the shortage of medical staff in the country. Govt’s decision will be applicable to all AYUSH & central govt doctors and dentists except those in the Central Health Service. India has a little more than 1 million modern medicine doctors to treat its population of 1.3 bn people.

ICICI Bank launches cashback home loans

ICICI Bank has announced a new home loan scheme that offers borrowers the benefit of 1% cashback on every EMI, for the entire tenure of the loan. The offer will be valid for home loans with a minimum tenure of 15 years and maximum tenure of 30 years. This offer is available for other mortgage products like loan against property, lease-rental discounting & top-ups on existing mortgage loans.

First space station near Moon

Russia & US have agreed to cooperate on a NASA-led project to build the 1st lunar space station, part of a long-term project to send humans to Mars. Deep Space Gateway will allow mankind to eventually undertake space flights to Mars & elsewhere in the Solar System. The project envisages building a crew-tended spaceport in lunar orbit that would serve as a gateway to deep space & lunar surface

‘Adopt a Heritage’ project

President Kovind launched ‘Adopt a Heritage’ initiative, under which heritage sites will be entrusted to public & private enterprises & individuals for maintenance. The initiative is an attempt to boost Indian tourism with “greater focus on digital presence & social media”. Under it, those entrusted with development of tourist amenities at the adopted sites would be known as Monument Mitras.

Scientists detect 4th gravitational wave

Scientists have made the 4th detection of gravitational waves – ripples in fabric of space & time formed by the collision of 2 massive black holes. For the first time, the detection was made jointly with Virgo observatory from Europe. LIGO-Virgo collaboration includes more than a thousand scientists from different countries, setting a great example in international scientific cooperation.

Syndicate Bank cuts interest rate

Public sector Syndicate Bank has cut savings account interest rate by 0.50 per cent to 3.50 per cent for deposits up to Rs 25 lakh. For the deposits above Rs 25 lakh, the interest rate is unchanged at 4 per cent. With this, Syndicate Bank has joined over two-dozen banks, both from public and private sector, who have cut interest rate on deposits in various quantum.

Hugh Hefner dies at 91

Hugh Hefner, the founder of Playboy magazine, has died aged 91. Hefner founded Playboy in 1953 with $600 of his own money and built the magazine into a multimillion-dollar entertainment empire. The magazine’s “progressive” approach to sexuality made it a controversial publication. Born in Chicago, Hefner was a writer for a military newspaper while in the U.S. Army.

NeSL gets registered

Insolvency & Bankruptcy Board of India has registered National E-Governance Services Limited as an Information Utility under the IBBI Regulations, 2017. With this NeSL has become the first IU registered by the IBBI and the registration is valid for 5 years from the date of registration. IU stores financial information that helps to establish defaults as well as verify claims expeditiously.

5th Asian Indoor and Martial Arts Games

The 5th Asian Indoor and Martial Arts Games concluded at Ashgabat in Turkmenistan. On the concluding day Indians grabbed 4 medals, including a gold through tennis player Sumit Nagal, to end at 11th place. With 9 gold, 12 silver & 19 bronze, India finished at 11th position in the Games. Hosts Turkmenistan topped the medals tally with 89 gold, 70 silver & 86 bronze, followed by China and Iran

29^th September 2017

Ways to tackle cybercrime

The committee, headed by former Secretary General of Lok Sabha, T K Viswanathan, has recommended appointing cybercrime coordinators in all states & establishing cybercrime cells in each district. It has also suggested replacing some clauses of IT Act and amending some sections of IPC. The committee was formed after the Supreme Court struck down Section 66 A of the Information Technology Act.

Significant decline in Infant Mortality

India has registered a significant decline in Infant Mortality Rate, the IMR declined by 3 points (8% decline), from 37 per 1000 live births in 2015 to 34 per 1000 live births in 2016 India also recorded a major drop in birth cohort, which has for the 1st time come down to below 25mn Gender difference b/w female & male IMR has reduced to <10 a="" bachao="" beti="" boost="" giving="" o:p="" padhao="" scheme="" to="">

Global Entrepreneurship Summit

NITI Aayog, in partnership with US administration, will host the 8th annual Global Entrepreneurship Summit in Hyderabad on Nov 28-30. The event will be addressed by Prime Minister Modi & the US delegation will be led by Ivanka Trump. This is the first time the Global Entrepreneurship Summit is being held in South Asia. The theme for this year’s summit – Women First, Prosperity for All.

Nasa delays launch of James Webb

NASA has pushed the planned launch of its $8.8 billion James Webb Space Telescope from October 2018 to spring of 2019, citing spacecraft-integration issues. It will be the world’s most powerful space telescope ever built, serving thousands of astronomers worldwide. The 6.5 meter diameter infrared-optimised telescope is designed to study an extremely wide range of astrophysical phenomena

Indian Internet firms create lobby group

India’s top Internet companies led by Flipkart have created a lobby group called Indiatech.org that will represent the interests of Indian Internet start-ups to fight their international rivals. Co-founder and executive chairman Sachin Bansal will lead the lobby group. Apart from Flipkart, Ola, Hike and some other Indian Internet companies will be part of the lobby group.

Malaysia bans travel to North Korea

Malaysia has banned its citizens from traveling to North Korea as the country faces increasing diplomatic pressure over its weapons programs. Malaysia’s foreign ministry cited North Korea’s missile tests and related developments as the reasons for the travel ban and said it would last until further notice. Malaysia is one of the North Korea’s few remaining diplomatic partners in the world.

Free mobile phones

Chhattisgarh CM Raman Singh has planned to give free mobile phones to 55 lakh 60 thousand people within two-and-a-half-years in the state. A plan of Rs. 230 crore has been prepared in order to provide free mobile phones to 55 lakh 60 thousand people within two-and-a-half-years in the state. Free phones will be provided to the youth of every rural household, urban poor families & colleges.

PC among highest paid female TV actors

Priyanka Chopra has made it to Forbes’ annual top 10 highest paid female TV actors list that has Sofia Vergara on the No.1 spot. With her earning of $10 million, she is on the eighth position on the list, nudging House of Cards star Robin Wright ($9 million) to the ninth spot. Priyanka made her acting debut in the West with TV show Quantico.

Aeris Communications partners with BSNL

Aeris Communications has entered into a partnership with BSNL to provide packaged Internet of Things solutions & services to small, medium businesses & PSUs in India. Collaboration is aimed at propagating IoT projects across India as part of digital transformation drive. Aeris will leverage BSNL’s wide network coverage, to provide end-to-end IoT services platform for OEMs & service providers

World’s most affordable technology city

Bengaluru is the world’s most affordable technology hub, according to a study conducted by Knight Frank LLP. Among the top 29 global technology hubs covered by the study, Bengaluru emerged the cheapest in office rentals. Gurugram, another Indian city, comes second. Bengaluru is also the most valued destination on the employment and property cost index.

ADB loan to Himachal Pradesh

Asian Development Bank has approved a loan of $80mn for modernisation of Himachal Pradesh’s technical & vocational education & training institutions The total cost of project is $100mn, with Centre contributing $20mn. Project is expected to be completed by the end of 2022 It will align Himachal Pradesh’s TVET programmes to national skills certification standards, thereby, improving employability

Rajiv Sabharwal to take charge

Tata Capital has announced the appointment of Rajiv Sabharwal as Managing Director & CEO designate of the company. Sabharwal would be taking over from the company’s current Managing Director & CEO Praveen P Kadle, who will be assuming other responsibilities in the Tata Group. Sabharwal is currently a partner at True North Managers LLP, formerly India Value Fund Advisors.

Agreement with Ethiopia in media field

The Union Cabinet has approved the signing of an agreement with Ethiopia to increase cooperation in the field of information, communication, and media. The agreement would provide an opportunity to both the nations to share best practices and innovations in the field of information, communication, and media. It will also help enhance people-to-people contact through exchange programmes.

Mou Between Indian Army and JMIU

Indian Army & Jamia Millia Islamia University has signed a Memorandum of understanding for academic collaboration, technical advancement & progression of Army Personnel. It would facilitate admission of defence personnel in 2nd or 3rd-year Graduation /P.G /Doctorate programme via distance learning. It would enable soldiers to enhance their academic qualification for a better future.

Interpol votes to admit Palestine

Interpol has voted to admit Palestine as a full member, dealing a blow to Israel, which has strenuously lobbied against Palestinian admission. Interpol is designed to help countries share police intelligence & cooperate against crime that crosses international borders. Palestine gained observer status at UN in 2012 & since then has joined more than 50 international organisations & agreements

First big state to use EVMs with VVPAT

Gujarat will be the 1st big state where Assembly elections will be conducted with Electronic Voting Machine equipped with Voter Verifiable Paper Audit Trail (VVPAT). Gujarat will be the 2nd state after Goa to use VVPAT system for assembly elections. VVPAT machines during the poll will allow voters to experience transparency & will allow them to see if their vote has been registered correctly

Swiggy’s first-ever CFO

Swiggy has appointed former Olam International executive Rahul Bothra as its 1st chief financial officer. A chartered accountant by qualification, Bothra was previously divisional CFO & vice president – finance at agricultural commodity trading company Olam International Appointment is part of Swiggy’s strategy to strengthen its top deck as it looks to scale its business beyond just delivery

Agreement to train Afghanistan police

After training Afghan Army officers & soldiers for 4 years, India will now train Afghan police officers. India & Afghanistan have exchanged a memorandum of understanding, which will see Afghan police forces trained in India for the 1st time. It follows a reworking of US Afghan strategy, outlined by President Trump in which he called on India to play a larger role in stabilizing Afghanistan

India jumps to 14th rank

India leapt up the global rankings by 12 places to take 14th spot in terms of best country for expats to live & work in, says an HSBC survey. Driven by strong ratings across a range of economic & family measures, India shines in this year’s league table, moving up 12 places since 2016. 71% expats reported high levels of confidence in the economy, while 58% exuded optimism on political stability

India, Norway extends cooperation

India & Norway have extended bilateral cooperation in health sector through Norway-India Partnership Initiative for 3 years starting 2018. It will also focus on areas related to reproductive, maternal, child, adolescent health & strengthening of health system. Cooperation b/w the 2 countries will continue to be aligned with development goals of India as outlined in National Health Policy 2017

30^th September 2017

Amazon creates B2B marketplace

Amazon India has launched Amazon Business, a B2B marketplace on Amazon.in, to enable small and medium businesses to procure products through the platform. Amazon Business will act as a pure marketplace and will have over 100 million products across all categories. The B2B business will ensure free shipping on eligible purchases for business customers as well as doorstep delivery.

New wetland rules

The environment ministry has notified the new Wetland (Conservation and Management) Rules 2017 which prohibit a range of activities in wetlands. The rules prohibit activities like the conversion of wetland for non-wetland uses including encroachment of any kind, setting up of any industry and expansion of existing industries. The new rules will replace the 2010 version of the rules.

‘Hall of Fame’ national tourism award

Gujarat Tourism has won “Hall of Fame” award for being the Best State in Comprehensive Development of Tourism category at National Tourism Award function. Gujarat was awarded for its performance in previous years where it won several accolades in this category for consecutively 3 years. Gujarat has been organizing Navaratri & Kite Festival, etc due to which inflow of tourists has increased 18%

First Indian woman to scale Mt Manaslu

An Indian Police Service Officer of UP Cadre, Aparna Kumar became the first Indian woman to scale Mount Manaslu, which is the 8th highest mountain peak in the world. Exactly at 10.00 am on September 25, Kumar took up a mission to climb Mount Manaslu in the west-central part of Nepal. She has already successfully scaled the highest peaks of six continents out of seven continents.

Indian football team qualifies for AFC

Indian football team has qualified for AFC U-16 Championship to be held next year in Malaysia after finishing 2nd in their group qualifying round played in Kathmandu. India qualified as one of the six best second-placed teams from the group matches of qualifying round. India defeated Palestine (3-0) and drew against Nepal (2-2) and group toppers Iraq (0-0) to collect 5 points & finished 2nd.

HDFC partners top education institutes

HDFC Bank will be partnering with 50 technology & business schools to tap into emerging fintech ideas. The objective is to identify potential fintech ideas at incubation & entrepreneurship cells in the institutes at a nascent stage & help them evolve into a consumer-ready product. Start-ups will get bank’s platform to test their ideas in real world, in addition to expert insights & knowledge

Green Masala Bond in the UK

Indian Renewable Energy Development Agency has launched a new Green Masala Bond on London Stock Exchange’s new International Securities Market to raise funds to finance renewable energy projects across India. The 5 year dated bond raised approximately $300 million, with a coupon of 7.125%. It is the first Green Masala Bond to be listed on the International Securities Market.

Tata Motors bags order for 10,000 e-cars

Tata Motors has won the first contract to supply electric vehicles to replace petrol & diesel cars used by govt & its departments as part of a plan to cut demand for fossil fuels. First 500 electric vehicles will be supplied to EESL in Nov & the remainder will be delivered in the 2nd phase. Tata Motors will supply the electric version of its Tigor sedan, for which batteries will be imported.

Govt extends deadline

Govt has extended the deadline to sell pre-GST goods by 3 months till Dec 31 this year. The decision came after companies & CAIT, the retailers body, highlighted that they were still left with huge unsold stocks of pre-GST goods & needed more time to clear that. Under the GST, stocks as on 30th of June with mandatory MRP labeling could be sold only up to Sept 30 by pasting new MRP stickers.

Paper trail machines in all future polls

Election Commission has issued a formal direction to use VVPAT or paper trail machines in all future Lok Sabha & assembly elections. VVPAT is a machine which dispenses a slip with a symbol of the party for which a person has voted for. The slip drops in a box but the voter cannot take it home. Several parties have been pressing for the use of these machines to dispel doubts about EVM tampering.

President appoints 5 new Governors

President Kovind has appointed 5 new Governors for the states of Arunachal Pradesh, Bihar, Tamil Nadu, Assam & Meghalaya. BD Mishra was appointed as the Governor of Arunachal Pradesh while Satya Malik & Jagdish Mukhi were appointed as the governors of Bihar & Assam respectively. Banwarilal Purohit was appointed as the Governor of Tamil Nadu while Ganga Prasad was made the governor of Meghalaya

Saudi Authorises Women to Issue Fatwas

Saudi Arabia women can now issue fatwas after the historic recommendation was approved by 107 votes in the Shoura Council. With this, the 45 years old tradition of only specialist men being able to issue fatwas in the Kingdom ended. The ruling comes just days after Saudi Arabia lifted a ban on women’s driving.

RBI to sell sovereign bonds

Reserve Bank of India would sell govt bonds worth Rs 10,000 crore through Open Market Operations to mop up liquidity from the system. As part of the OMO, the RBI will sell government securities maturing in 2019, 2021, 2022, 2024, & 2030. Open market operations refer to buying & selling of govt securities in open market in order to expand or contract the amount of money in the banking system.

VNL signs pact with BSNL

Telecom equipment & solutions provider VNL has signed a MoU with BSNL to provide solutions for disaster management. ‘Relief 123’ service will restore connectivity at disaster sites, help locate affected & integrate information across platforms to enable informed decision-making for quick relief. It has been designed to work in different scenarios, including natural disasters such as tsunamis

India launches Access India Programme

India has launched a new initiative to attract investments from small & medium enterprises in the UK. Access India Programme will work as a market entry support system for smaller companies with a potential to expand into the Indian market. The new AIP initiative will be geared towards implementing ‘Make in India’ concept by facilitating investments from the UK.

Tom Alter dies of skin cancer

Veteran theatre and film personality Tom Alter died after losing his battle against stage four skin cancer. Apart from acting in over 300 movies and numerous TV shows, Alter was a sports journalist for a brief while at the start of his career. In 2008, he was bestowed with the Padma Shri, the fourth highest civilian honour of India, for his service to the field of arts and cinema.

India International Science Festival

The 3rd India International Science Festival will be held in Chennai next month. The festival is being organised by Ministry of Earth Sciences & Ministry of Science and Technology. The event will be jointly inaugurated by science & technology ministers of Nepal, Bangladesh, Afghanistan & Portugal. This is the 3rd IIS festival, which has been organised since NDA govt came to power in 2014.

Govt keeps interest rates unchanged

The government has kept the interest rates unchanged on small savings schemes like PPF, Kisan Vikas Patra & Sukanya Samriddhi for October-December quarter. Investments in public provident fund scheme will fetch annual rate of 7.8%, while Kisan Vikas Patra investments will yield 7.5%. Since April last year, interest rates of all small saving schemes have been recalibrated on a quarterly basis.

Global Wildlife Programme

Environment Minister Harsh Vardhan will inaugurate the Global Wildlife Programme on 2nd of October. India is hosting the programme jointly with World Bank & UNDP to address illegal wildlife trade across 19 Asian and African countries. The Conference will act as a platform for knowledge exchange & coordination on the action taken on the ground to combat illegal poaching of wildlife.

India, EU to hold 14th summit talks

President of European Council, Donald Tusk & President of European Commission, Jean-Juncker will be on a 3-day visit to India to hold 14th India-EU Summit in New Delhi. Summit aims at deepening India-EU Strategic Partnership & advance collaboration in priority areas for India’s development. EU is India’s largest regional trading partner with bilateral trade in goods standing at $88bn in 2016.

source:   testbook.com