Current Affairs Update – 1 November, 2017



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

Financial & Banking
News
Union Government constitutes Arun
Jaitley led committee to oversee PSU bank mergers

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

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Assam signs MoUs with Singapore
for skilling state’s youth

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

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

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

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

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

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

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

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