Current Affairs Update – 10-11 October, 2017



Hello and welcome to exampundit. Here are the Important Current Affairs of 10 & 11 October, 2017. These are very important for the upcoming IBPS PO, IBPS RRB, OICL AO, UIIC Assistant & NICL Assistant Exams.

Banking & Financial
News
RBI to soon launch financial
literacy drive in 9 states

  • The Reserve Bank of India (RBI)
    has decided to launch a financial literacy drive in 80 blocks in 9 states on a
    pilot basis to educate people on e-transactions, formal sector borrowings and
    insurance purchases.
  • The pilot project will be
    commissioned in 9 states including Maharashtra, Chhattisgarh, Bihar, Odisha,
    Karnataka, Telangana, Andhra Pradesh, Haryana and Uttar Pradesh.
  • Six non-governmental
    organisations registered with the Depositor Education and Awareness Fund have
    been selected to execute the pilot project in collaboration with banks.
  • The NGOs include CRISIL
    Foundation, Dhan Foundation, Swadhaar Fin Access, Indian School of Micro
    Finance for Women (ISMW), Samarpit and the PACE Foundation.
  • The total cost of the project
    over a period of three years would be around Rs 18.40 Cr.
  • The main aim of the literacy
    drive is to infuse the habit of making a household budget and recording
    financial transactions, encourage transactions in savings accounts, and active
    saving by depositing in banks through fixed deposits and recurring deposits.
  • The project also aims to ensure
    people borrow from formal finance institutions and approach banking Ombudsman
    for redressal of their grievances.
  • It also aims to encourage
    e-transactions through electronic means such as NEFT, RTGS, IMPS, Internet
    Banking, Mobile Banking and UPI (Unified Payment Interface).
  • The NGO will be educating people
    to buy life insurance and pension products.
  • The Reserve Bank is initiating a
    pilot project on financial literacy at the block level to explore innovative
    and participatory approaches to financial literacy.
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Centre imposes anti-dumping duty
on imports of steel wire rods from China

  • The Union Finance Ministry has
    imposed anti-dumping duty on imports of certain steel wire rods from China for
    a period of five years.
  • The decision has been taken to
    guard the interest of domestic players from cheap in-bound shipments.
  • The duty was imposed after the
    Commerce Ministry’s Directorate General of Anti-Dumping and Allied Duties
    (DGAD) recommended duty on such imports.
  • In its findings, the DGAD had
    concluded that the wire rod of alloy or non-alloy steel has been exported to
    India below the normal value due to which domestic industry has suffered
    material injury.
  • India has already slapped
    anti-dumping duty on certain cold-rolled flat steel products from four nations
    including China and South Korea.
Gujarat Government to set up 16
new townships to encourage SMEs growth

  • Gujarat Government would be
    setting up 16 new Gujarat Industrial Development Corporation (GIDC) townships
    in 2400 hectare area to encourage the Small and Medium Enterprises (SMEs).
  • The same was announced by the
    state’s Chief Minister Vijay Rupani in a press conference at Gandhinagar on 11
    October 2017.
  • The township is expected to
    attract around 15,000 industrial units.
  • It is also expected to result in
    the growth of SMEs, especially in remote locations.
  • The combined area of industrial
    estates across 16 locations will be around 2400 hectares.
  • The estates are expected to
    generate employment for around 100,000 people.
  • Besides this, the state
    government has announced a new policy- Garments & Apparel Policy 2017,
    which will create job opportunities in garmenting among small units.
  • The policy is also expected to
    bring in investments worth over Rs 20000 Cr.
NMCG approves 8 Projects worth
over Rs 700 Cr under Namami Gange Programme

  • The National Mission for Clean
    Ganga has approved eight projects worth Rs 700 Cr under Namami Gange Programme.
  • Among the 8 projects, four relate
    to sewage management in three Ganga basin states- Uttar Pradesh, Bihar and West
    Bengal, three relate to treatment of drains through bio-remediation and one
    relates to inventorization and surveillance of river Ganga.
Sewage Management Projects

  • Project for pollution abatement
    in river Ganga at Bally in West Bengal. It has been approved at an estimated
    cost of Rs 200.07 Cr. It would include construction of a 40 MLD STP under
    Hybrid Annuity based PPP model among other works.
  • The construction of a 65 MLD STP
    under Hybrid Annuity model has been approved for Bhagalpur in Bihar at an
    estimated cost of Rs 268.49 Cr.
  • In Uttar Pradesh, sewage
    treatment related works at an estimated cost of Rs 213.62 Cr have been approved
    that includes construction of two STPs (28 MLD + 05 MLD) in Farrukabad and one
    2 MLD STP at Bargadiya drain in Fatehpur.
  • Pollution abatement works for
    river Ganga like interception, diversion and treatment of sewage in Bithoor
    have also been approved at an estimated cost of Rs 13.40 Cr.
  • The estimated cost of projects
    related to treatment of drains using bio-remediation technology is around Rs
    4.29 Cr. These are for Rajapur drain and Digha drain in Patna and Laksar drain
    in Haridwar.
  • The last project, which relates
    to pollution inventorization, assessment and surveillance on river Ganga, has
    been approved at an estimated cost of Rs 42.9 Cr. It aims to mainly strengthen
    environmental regulation and water quality monitoring through river Ganga.
MoRTH to implement new programme
to promote new technologies in highway projects

  • The Ministry of Road, Transport
    and Highways has decided to implement a Value Engineering Programme to promote
    new technologies and material in highway projects.
  • The programme will be executed
    under PPP mode or public funding mode.
Key Objective

  • To use innovative technology,
    materials and equipment to reduce the cost of projects and make them more
    environment friendly.
  • To ensure that the roads or
    bridges and other assets get constructed much faster, are structurally stronger
    and more durable.
After its implementation, the
programme is expected to:
– increase speed
of construction
– reduce
construction cost
– increase asset
durability
– improve
aesthetics and safety
Besides this, the Ministry has
also reconstituted a nine-member expert panel -National Panel of Experts (NPE),
which was constituted in 2016, for approving proposals for use of new
technologies, material and equipment.
Composition of the panel

  • Chairman – SR Tambe, former
    Secretary, PWD Maharashtra
  • Co-Chairman – Prof Ravi Sinha,
    IIT Mumbai
  • Members – Prof. A Veeraraghavan,
    IIT Chennai, Dr. Sunil Bose, Deputy Director CRRI, Prof. Prof. K.S. Reddy, IIT
    Kharagpur, S.K. Dharmadhikari, Dr. Prakash W. Kaskhedikar
News related to India & states
Supreme Court bans sale of firecrackers in Delhi-NCR till 1 November
2017

  • The Supreme Court on 9 October
    2017 banned the sale of firecrackers in Delhi and NCR till 1 November 2017. The
    decision was taken to find out whether there will be a positive effect of this
    ban particularly during Diwali period on the health of citizens and a steadily
    deteriorating air quality.
  • The ruling was made by a bench of
    Justices AK Sikri, AM Sapre and Ashok Bhushan.
  • Burning of these firecrackers
    during Diwali in 2016 had led to immense increase in particulate matter levels
    by three times, making Delhi the worst city in the world, as air pollution is
    concerned.
Rajasthan becomes 1st state to
incorporate skill development programme in higher education

  • Rajasthan has become the first
    state to incorporate skill development programme in the higher education.
  • The programme was launched by the
    state’s Higher Education Minister Kiran Maheshwari and Vice Chancellor of IGNOU
    Prof Ravindra Kumar on 10 October 2017 in Jaipur.
  • The state’s Department of College
    Education in collaboration with IGNOU has prepared 16 courses for
    entrepreneurship and skill development for colleges in the state.
  • Under the project, 12
    certificates and 4 diploma courses will be run and each college will be
    required to choose five courses.
  • 94 colleges have already joined
    the project and 5656 students have registered themselves in it.
  • The practical training of the
    students pursuing the skill development courses will be done in different
    government departments.
UP Cabinet approves
digitalisation of land maps

  • The state cabinet of Uttar
    Pradesh on 9 October 2017 approved digitalisation of land maps in 70 districts
    of the state.
  • The information was shared by the
    state’s Power Minister Shrikant Sharma who said that this move was necessary as
    the land maps were in a very bad condition and needed proper preservation.
  • The Cabinet meeting was chaired
    by the state’s Chief Minister Yogi Adityanath.
  • Speaking on the occasion, Sharma
    said that an amount worth Rs 5.21 Cr has been made available for the
    digitisation work. On completion of the work, the maps will be made available
    online.
  • The main aim of the move is to
    help check malpractices in a big way. The development will be a great help to
    the farmers and others in the state.
The 3rd International Conference
on Yoga underway in Delhi

  • The third International
    Conference on Yoga was inaugurated in New Delhi on 10 October 2017 by Indian
    Vice President, M Venkaiah Naidu. The theme of the conference this year is
    ‘Yoga for Wellness.’
  • The two-day conference is being
    organized by Ministry of AYUSH as a part of commemorating the celebration of 21
    June as International Day of Yoga declared by the United Nations. While the inaugural
    function was presided over by Minister of State for AYUSH Shripad Yesso Naik,
    Union Minister Nitin Gadkari was the chief guest.
  • The event would see participation
    from over 500 delegates, from 44 countries across the world.
  • It would have six technical
    sessions with yoga focused deliberations by experts.
  • It would be followed by a panel
    discussion between 16 interdisciplinary experts from prominent scientific
    institutions.
  • The key areas of deliberations
    would include Yoga research in non-communicable diseases and scope of Yoga in
    integrated medicine, control of cancer, depression, gynaecological disorders
    and pain management.
Maharashtra cabinet approves
climate change adaptation policy

  • The state cabinet of Maharashtra
    on 10 October 2017 approved a climate change adaptation policy that will focus
    on developing environment-friendly villages and cities.
  • According to a statement issued
    by the Chief Minister’s office, a special cell under the state Environment
    department will be set up for the effective implementation of the policy.
  • The main aim of the policy would
    be to develop environment-friendly villages and cities.
Assam CM to inaugurate Pradhan
Mantri Ujjwala Yojana in Silchar

  • The Chief Minister of Assam,
    Sarbananda Sonowal would be inaugurating the Pradhan Mantri Ujjwala Yojana in
    the state’s Silchar district on 11 October 2017.
  • The Minister, who is on a two-day
    visit to Cachar, will also take part in various programmes. He would also be
    attending a meeting of the district administration officials and police
    personnel of the three districts of Barak Valley and interact with the
    intellectual fraternity on Namami Barak festival.
  • He will also attend the Gunotsav
    programme at the DNNK School and lay the foundation stone of an Rs 61 Cr road
    repair project at VIP Road at Udharbondh that will connect the city to the
    airport.
Appointments
Veteran actor Anupam Kher
appointed as Chief of FTII

  • Anupam Kher on 11 October 2017
    took charge as the Chief of Film and Television Institute of India (FTII),
    Pune.
  • Kher succeeds Gajendra Chauhan,
    whose appointment as FTII Chairman triggered massive student protests.
    Chauhan’s term ended in March 2017. He was appointed as FTII chairman on 9 June
    2015. Many FTII students had protested against his appointment claiming that
    Chauhan was unfit for the job.
  • He has been a proud recipient of
    the Padma Shri in 2004 and the Padma Bhushan in 2016 for his contribution in
    Cinema.
  • He chairs acting school ‘Actor
    Prepares’.
  • Established in 1960, FTII is
    considered as a premier institute for training in Cinema and Television. It
    boasts of notable alumni such as Naseeruddin Shah, Shabana Azmi, Om Puri, Jaya
    Bachchan, among others.
Nisha Desai Biswal appointed as
President of US-India Business Council

  • Nisha Desai Biswal was on 10
    October 2017 appointed as the President of the US-India Business Council
    (USIBC).
  • The US-India Business Council is
    the premier business advocacy organization that was formed in 1975 at the
    request of the US and Indian governments. It is the largest bilateral trade
    association in the United States and has presence in New York, Silicon Valley
    and New Delhi.
Jagdish Mukhi sworn in as new
Governor of Assam

  • Veteran leader, Jagdish Mukhi was
    sworn in as the new Governor of Assam on 10 October 2017.
  • He was administered the oath of
    office by Gauhati High Court Chief Justice Ajit Singh at a function in the
    Srimanta Sankardeva International Convention Centre in Guwahati. The
    swearing-in ceremony also saw in attendance the state’s Chief Minister,
    Sarbananda Sonowal and other senior officials.
  • In his new position, Mukhi
    succeeded Banwarilal Purohit who has been appointed as the Governor of Tamil
    Nadu.
Resignations
D Shivakumar quits as CEO of
PepsiCo India

  • PepsiCo India Chairman and CEO, D
    Shivakumar resigned from office on 10 October 2017. He will be succeeded by
    Ahmed El Sheikh who is currently serving as senior vice-president and general
    manager for PepsiCo Egypt and Jordan.
  • D Shivakumar served for almost
    four years with the beverage maker, overseeing the company’s operation across
    India, Bangladesh, Nepal, Bhutan, Sri Lanka and Maldives.
  • Shivakumar will quit PepsiCo on
    31 December. He is expected to join Aditya Birla Group as Head, Corporate
    Strategy and Business Development in three months and will report directly to
    Group Chairman Kumar Mangalam Birla.
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Facebook India MD Umang Bedi
steps down

  • In just over 15 months of joining
    Facebook as India MD, Umang Bedi has resigned from his position at the social
    networking giant.
  • Sources close to Bedi said he may
    be starting a venture on his own. Sandeep Bhushan has been appointed as the
    interim Managing Director. Bhushan was earlier with Samsung as IT and mobile
    business director. He currently handles the new revenue streams from FMCG
    advertisers for Facebook.
  • Facebook had roped in Bedi as its
    Managing Director, India from Adobe where he served as Managing Director of the
    South Asia region. He had taken over from Kirthiga Reddy, who returned to the
    US to take on a new role at the company’s headquarters at Menlo Park.
  • Bedi joined Facebook at a time
    when the social networking giant was embroiled in a controversy around its Free
    Basic initiative, which offered free connectivity to select internet services
    in several parts of the country. Facebook was forced to drop the initiative
    after howls of protest.
Awards & Honors
Rainer Weiss, Barry C. Barish and
Kip S. Thorne awarded with 2017 Nobel Prize in Physics

  • The Royal Swedish Academy of
    Sciences on 3 October 2017 awarded the Nobel Prize in Physics 2017 with one
    half to Rainer Weiss of LIGO/VIRGO Collaboration and the other half jointly to
    Barry C. Barish and Kip S. Thorne of LIGO/VIRGO Collaboration.
  • They were awarded for decisive
    contributions to the LIGO detector and the observation of gravitational waves.
  • The universe’s gravitational
    waves were first observed on 14 September 2015. These waves were predicted by
    Albert Einstein a hundred years ago. These waves came from a collision between
    two black holes. It took 1.3 billion years for the waves to arrive at the LIGO
    detector in the USA.
  • Gravitational waves are an
    entirely new way of observing the most violent events in space and testing the
    limits of knowledge. The Gravitational waves spread at the speed of light,
    filling the universe, as Albert Einstein described in his general theory of
    relativity.
  • LIGO (Laser Interferometer
    Gravitational-Wave Observatory) is a collaborative project with over 1000
    researchers from more than twenty countries.
  • The LIGO project’s achievement
    was using a pair of gigantic laser interferometers to measure a change
    thousands of times smaller than an atomic nucleus, as the gravitational wave
    passed the Earth.
Jacques Dubochet, Joachim Frank,
Richard Henderson awarded with 2017 Nobel Prize in Chemistry

  • The Royal Swedish Academy of
    Sciences on 4 October 2017 awarded the 2017 Nobel Prize in Chemistry jointly to
    Jacques Dubochet, Joachim Frank and Richard Henderson for developing
    cryo-electron microscopy for the high-resolution structure determination of biomolecules
    in solution.
  • Through Cryo-electron microscopy,
    researchers can now freeze biomolecules mid-movement and visualise processes
    they have never previously seen, which is crucial for the basic understanding
    of life’s chemistry and for the development of pharmaceuticals.
  • Earlier, electron microscopes
    were long believed to only be suitable for imaging dead matter, but in 1990,
    Richard Henderson of MRC Laboratory of Molecular Biology, Cambridge succeeded
    in using an electron microscope to generate a three-dimensional image of a
    protein at atomic resolution.
  • Joachim Frank of Columbia
    University, USA developed an image processing method in which the electron
    microscopes fuzzy two dimensional images are analysed and merged to reveal a
    sharp three-dimensional structure.
  • While, Jacques Dubochet of
    University of Lausanne, Switzerland added water to electron microscopy. Liquid
    water evaporates in the electron microscope’s vacuum, which makes the
    biomolecules collapse.
  • Following these discoveries, the
    desired atomic resolution was reached in 2013 and researchers can now routinely
    produce three-dimensional structures of biomolecules.
Nobel Prize in Physiology or
Medicine

  • The 2017 prize was awarded
    jointly to (L-R) Jeffrey C. Hall (University of Maine), Michael Rosbash
    (Brandeis University) and Michael W. Young (Rockefeller University) “for
    their discoveries of molecular mechanisms controlling the circadian
    rhythm”.
  • The award celebrates the study of
    the tiny biological clocks in every living thing. The three American scientists
    “were able to peek inside our biological clock and elucidate its inner
    workings,” the Nobel Prize Committee said. “Their discoveries explain how
    plants, animals, and humans adapt their biological rhythm so that it is
    synchronized with the
Kazuo Ishiguro awarded with 2017
Nobel Prize in Literature

  • The Nobel Prize in Literature
    2017 was awarded to English author Kazuo Ishiguro on 5 October 2017 for
    uncovering the abyss beneath the illusory sense of connection with the world in
    his novels of great emotional force.
  • Kazuo Ishiguro has been a
    full-time author ever since his first book A Pale View of Hills that was
    published in 1982.
Sports News
FIFA suspends the Pakistan
Football Federation

  • The Fédération Internationale de
    Football Association (FIFA) has decided to suspend the Pakistan Football
    Federation (PFF) with immediate effect in accordance with the verdict of the
    Bureau of the FIFA Council on 10 October 2017 on account of undue third-party
    interference.
  • The decision from Bureau of the
    FIFA council came in the light of the fact that the PFF offices and its
    accounts remain in control of a court-appointed administrator, which amounts to
    a violation of the PFF commitment to manage its affairs independently and
    without pressure from any third parties in accordance with the FIFA Statutes.
  • Only after the PFF gets all its
    offices and access to the accounts, FIFA will lift the suspension.
Iceland makes history, Qualifies
for World Cup

  • Iceland created history on 9
    October 2017 by qualifying for the 2018 World Cup. This is the first time that
    Iceland qualified for the World Cup.
  • Gylfi Sigurdsson and Johann Berg
    Gudmundsson scored 2-0 against Kosovo to bag a spot in Group I of UEFA World
    Cup Qualifying.
  • With a population of barely
    330000, Iceland became the smallest country to clinch a position at the 21st
    FIFA World Cup. The previous smallest country to have reached the World Cup was
    Trinidad & Tobago which had a population of 1.3 million.
  • Meanwhile, Serbia made it to the
    2018 World Cup finals to be held in Russia. It scored 1-0 over Georgia to
    cement its place, ending 8 year of its major final absence in the World Cup.
Reports
World Payment Report 2017: China
is ahead of India in Digital Payment

  • As per the World Payments Report
    2017, China is likely to be ahead of India in digital payment. It is a stunning
    remark in the backdrop of a major push in digital payment by Indian government
    following the Demonetisation.
  • The World Payments Report 2017
    states that china will see a stable growth of 36 percent in digital
    transactions during 2016-20 while India is likely to grow up at an average of
    26.2 percent during the same period.
  • World Payment Report is result of
    collaboration between Capgemini and BNP Paribas. Both are renowned leader in
    business banking and cash management. The report contains the report about
    digital payment and transaction all around the world and their progress in that
    way.
  • As per the report, China has
    jumped to the 3rd place with 38.1 billion transactions in 2015, whereas, India
    recorded transaction of 4.5 billion during the same period.
  • It is estimated that a India may
    have 25 billion non-cash transactions for 2017-18, with priority areas being mobile,
    subsidy transfers, government benefits and micro-payments.
  • The break-up of the 25 billion
    non-cash transaction is likely to come from card transactions- 11 billion (44
    percent), mobile transfers- 6 billion (24 percent), and online transfers- 8
    billion (32 percent).
  • Globally, Debit cards account for
    46 percent of non-cash transactions followed by credit cards with 19.5 percent
    in 2015.
Days
World Obesity Day observed on 11
October 2017

  • World Obesity Day is observed on
    11 October 2017 all over the world with the theme “treat obesity now and
    avoid the consequences later”.
  • World Obesity Day was launched in
    2015 to stimulate and support practical solutions to help people achieve and
    maintain a healthy weight, and to reverse the obesity crisis.
  • World Obesity Day is observed
    globally on 11 October with the view of promoting practical solutions to end
    the global obesity crisis. It is organised by the World Obesity Federation, a
    non-profit body which is in official relations with the World Health Organisation.
  • India with 14.4 million had the
    second highest number of obese children in 2015, after China with 15.3 million,
    a study has found.
  • The study showed that in 2015,
    excess weight affected 2.2 billion children and adults worldwide, or 30 per cent
    of all people.
International Day of the Girl
Child 2017 observed globally

  • The International Day of the Girl
    Child was observed across the world on 11 October 2017 with the theme ‘EmPOWER
    girls: Before, during and after crises’.
  • Presently, there are 1.1 billion
    girls in the world, and every one of them deserves equal opportunities for a
    better future. Most girls face disadvantage and discrimination on a daily
    basis, and those living through crises are suffering even more. Every 10
    minutes, an adolescent girl dies as a result of violence.
  • Adolescent girls in conflict
    zones are more likely to be out of school in comparison with the girls of
    conflict-free countries.
  • The day aims to empower girls in
    raising their voices to fight for their rights and protection in all contexts.
World Mental Health Day 2017
observed globally

  • The World Mental Health Day was
    observed by the World Health Organisation (WHO) ON 10 October 2017 with the
    theme ‘Mental health in the workplace’.
  • The Day is observed with an aim
    of raising awareness of mental health issues around the world and mobilizing
    efforts in support of mental health. The Day provides an opportunity for all
    stakeholders working on mental health issues to talk about their work.
  • Globally, more than 300 million
    people suffer from depression and more than 260 million are living with anxiety
    disorders. A recent WHO-led study estimates that depression and anxiety
    disorders cost the global economy USD 1 trillion each year in lost productivity.

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