Current Affairs Update – 14-15 September, 2017



Hello and welcome to exampundit. Here are the Important Current Affairs of 14 & 15 September, 2017. These are very important for the upcoming IBPS PO, IBPS RRB, OICL AO, UIIC Assistant & NICL Assistant Exams.

Banking & Financial
News
IndusInd Bank secures $200 mn
loan from ADB for microlending

  • IndusInd Bank has secured up to
    $200 million (about Rs. 1,282 crore) loan from Asian Development Bank (ADB) to
    serve low-income women borrowers in rural areas.
  • The seven-year senior loan will
    go towards IndusInd Bank’s micro-finance activities, the private players said
    in a statement.
  • The loan pact was inked here by
    Director of ADB’s Private Sector Operations Department, Christine Engstrom,
    IndusInd Bank chief financial officer S Zaregaonkar, and Head of IndusInd
    Bank’s Global Markets Group, Arun Khurana.
  • Engstrom said ADB’s financing and
    technical assistance is a signal of its continued commitment to increase
    financial inclusion in India, particularly for low income women and their
    families.
  • This will help the bank to expand
    its efforts to finance underserved people of the country in less developed
    states, she said.
  • As per the loan agreement, about
    95 per cent of the ADB funding will go towards credit for women borrowers. At
    least 70 per cent of the number of loans will be deployed to less developed states,
    the bank said.
ICICI Bank launches cashback
scheme for hoam loan borrowers till Nov 30

  • To woo borrowers in this ongoing
    festive season, ICICI Bank has launched cashback scheme for those availing home
    loan till November 30.
  • Under the scheme, customers who
    avail a new home loan or transfer their existing home loan to the bank can get
    cashback of 20 per cent up to a limit of Rs 10,000, ICICI Bank said in a
    statement.
  • The cash back amount is based on
    minimum spend of Rs 30,000 from the customer’s ICICI Bank credit or debit card,
    it said.
  • This offer is valid from September
    1, 2017 to November 30, 2017.
  • Similarly, other banks have also
    come up with festival offers with attractive scheme to woo retail customers.
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Amazon, Bank of Baroda join hands
to offer micro loans at 10.45-11.5% interest

  • E-commerce player Amazon on
    Friday said it has tied up with state-run lender Bank of Baroda to offer micro
    loans to its sellers.
  • The loans will be offered on
    invite-only basis to the marketplace sellers.
  • The programme was piloted by
    Amazon in July this year in association with the bank.
  • The loans will be extended in the
    range of Rs one lakh to Rs 25 lakh at an annual interest rates between 10.45
    and 11.5 per cent.
  • The sellers on Amazon will
    receive pre-approved indicative offers from the bank for the loan amount they
    are eligible. They will be able to use their sale disbursements on the Amazon
    marketplace to directly repay the loan.
  • Currently, loans are offered on
    an invite-only basis to the marketplace sellers who qualify against various
    criteria, including account tenure, seller’s selling history, customer feedback
    and compliance with the e-commerce player.
India, Japan sign 15 agreements
for enhancing bilateral cooperation

  • India and Japan on 14 September
    2017 signed 15 agreements for enhancing bilateral cooperation in key areas
    including civil aviation, trade, science and technology, and skill development.
  • Among various agreements, both
    the sides exchanged RoD (Record of Discussions) on civil aviation cooperation
    with respect to open sky. With this agreement, Indian and Japanese carriers can
    now undertake unlimited number of flights to the selected cities of each
    other’s countries.
  • The agreements were signed during
    the visit of Japanese Prime Minister Shinzo Abe to India.
Highlights of the MoUs & Agreements

  1. MOC between the Ministry of Home
    Affairs and the Cabinet Office of Japan: It aims to cooperate and collaborate
    in the field of disaster risk reduction and to share the experiences, knowledge
    and policies on disaster prevention.
  2. MoC in the field of Japanese
    Language Education in India: It calls for strengthening bilateral relations and
    cooperation in the field of Japanese language education in India.
  3. India Japan Act East Forum: It
    aims to enhance connectivity and promote developmental projects in the North
    Eastern Region of India in an efficient and effective manner.
  4. Arrangement between India Post
    and Japan Post for the Implementation of Cool EMS service: It calls for
    implementing the commercial arrangement of “Cool EMS” service through
    which fresh food can be sent from Japan to India in cool boxes for the Japanese
    expatriates in India.
  5. India-Japan Investment Promotion
    Road map between DIPP and METI: It facilitates and accelerates the Japanese
    investments in India.
  6. MOC between METI and Gujarat on
    ‘Japan-India special programme for Make In India’: It calls for cooperation in
    infrastructure development programmes in the Mandal Bechraj-Khoraj region.
  7. Exchange of RoD on Civil Aviation
    Cooperation (Open Sky): It opens skies between India and Japan i.e. Indian and
    Japanese carriers can mount now unlimited number of flights to the selected cities
    of each other’s countries.
  8. Agreement for International joint
    exchange programme between interdisciplinary theoretical and mathematical
    sciences programme (iTHEMS), RIKEN and National Centres for Biological Sciences
    (Simons-NCBS): It aims to establish a Joint Exchange Program to identify and
    foster talented young scientists from both the countries to collaborate in the
    field of theoretical biology.
  9. Joint Research Contract between
    National Institute of Advanced Industrial Science & Technology of Japan and
    Department of Biotechnology (DBT) of India: It calls for conducting joint
    research and to establish an International Centre named as “DBT-AIST
    International Centre for Translational & Environmental Research (DAICENTER)
    at AIST, Japan.
  10. MOU Between DBT and National
    Institute of Advanced Science & Technology (AIST): It aims to promote research
    collaboration between DBT Research Institutes and AIST in the field of Life
    Science and Biotechnology
  11. MoU on International Academic and
    Sports Exchange between Lakshmibai National Institute of Physical Education and
    Nippon Sports Science University, Japan (NSSU): It will facilitate and deepen
    international education cooperation and exchanges between both the
    institutions.
  12. MoU on International Academic and
    Sports Exchange between Sports Authority of India and Nippon Sports Science
    University, Japan (NSSU): It will facilitate and deepen international education
    cooperation and exchanges between both Sports Authority of India and Nippon Sport
    Science University , Japan.
  13. LETTER OF INTENT between
    Lakshmibai National Institute of Physical Education (LNIPE) and University of
    Tsukuba, Japan: It will strengthen strategic collaboration, joint research
    programme and exchanges between Lakshmibai National Institute of Physical
    Education, India and University of Tsukuba, Japan
  14. LETTER OF INTENT between Sports
    Authority of India and University of Tsukuba, Japan: It will strengthen
    strategic collaboration, joint research programme and exchanges between
    University of Tsukuba, Japan and Sports Authority of India
  15. MoU between RIS and IDE-JETRO for
    promotion of Cooperation in Research Related Activities: It will promote
    institutional cooperation between RIS and IDE-JETRO to strengthen the capacity
    of research and effectiveness of dissemination of research findings
Ministry of Corporate Affairs and
CBDT inks MoU for automatic and regular exchange of information

  • The Union Ministry of Corporate
    Affairs (MCA) and Central Board of Direct Taxes (CBDT) in September 2017
    concluded a formal Memorandum of Understanding (MoU) for data exchange.
  • The MoU takes forward the
    initiative launched by the Union Government to curb the menace of shell
    companies, money laundering and black money in the country and prevent misuse
    of corporate structure by shell companies for various illegal purposes.
  • The MoU will facilitate the
    sharing of data and information between CBDT and MCA on an automatic and
    regular basis.
  • It will enable sharing of
    specific information such as Permanent Account Number (PAN) data in respect of
    corporates, Income Tax returns (ITRs) of corporates, financial statements filed
    with the Registrar by corporates, returns of allotment of shares, audit reports
    and statements of financial transactions (SFT) received from banks relating to
    corporates.
  • The MoU will ensure that both MCA
    and CBDT have seamless Corporate Identity Number (PAN-CIN) and Director
    Identity Number (PAN-DIN) linkage for regulatory purposes.
  • The information shared will
    pertain to both Indian corporates as well as foreign corporates operating in
    India.
  • In addition to regular exchange
    of data, CBDT and MCA will also exchange with each other, on request, any
    information available in their respective databases, for the purpose of
    carrying out scrutiny, inspection, investigation and prosecution.
  • The MoU comes into force from the
    date it was signed, i.e. 6 September 2017.
  • The MoU is an ongoing initiative
    of MCA and CBDT, which are already collaborating for near real time allotment
    of PAN and TAN also at the time of Incorporation of companies itself.
News related to India & states
Union Government launches
Operation Insaniyat to help Rohingya refugees in Bangladesh

  • The Union Ministry of External
    Affairs on 14 September 2017 launched Operation Insaniyat in Bangladesh to help
    Rohingya refugees.
  • The Operation was launched in
    response to the humanitarian crisis being faced on account of the large influx
    of refugees into Bangladesh.
  • Under Operation Insaniyat, India
    will distribute relief material consisting of items required urgently by the
    affected people. These materials are rice, pulses, sugar, salt, cooking oil,
    tea, ready to eat noodles, biscuits, mosquito nets etc.
  • The relief material will be
    delivered in multiple consignments.
  • The first tranche was brought to
    Chittagong by an Indian Air Force plane on 14 September 2017.
  • The Rohingya people are a
    stateless Indo-Aryan people from Rakhine State, Myanmar.
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Union Government to grant
citizenship to Chakma and Hajong refugees

  • The Government of India in
    September 2017 has decided to grant Indian citizenship to nearly one lakh
    Chakma and Hajong refugees, who came from the erstwhile East Pakistan five
    decades ago.
  • The Chakma and Hajong refugees
    currently live in camps in the Northeast India.
  • The move came following an order
    of the Supreme Court, which in 2015 had directed the Union Government to grant
    citizenship to the Chakma and Hajong refugees, mostly staying in Arunachal
    Pradesh.
  • The Chakmas are an ethnic group
    scattered in Arunachal Pradesh, Tripura, Assam, Mizoram, Meghalaya and West
    Bengal of India and in Chittagong Hill Tracts of Bangladesh.
  • The Chakmas are divided into 46
    clans or Gozas. They have their own language, customs and culture, and profess
    Theravada Buddhism.
  • The Hajong people are tribal
    people of North-eastern India and Bengal.
  • Hajong people are spread out
    across North East India West Bengal and Bangladesh. Majority of the Hajongs are
    settled in India.
Indian Railways permits m-Aadhaar
as ID proof for travellers

  • Indian Railways on 13 September
    2017 permitted passengers to show m-Aadhaar, digital version of the Aadhaar
    card, as proof of identity in any reserved class.
  • For the purpose of showing
    Identity proof, a passenger has to open the app and enter his/her password to
    show the card.
  • Passengers will be allowed to
    undertake the train journey in any reserved class only when they will show
    m-Aadhaar on their mobile after entering the password.
  • The m-Aadhaar is a mobile app
    launched by the Unique Identification Authority of India (UIDAI) on which a
    person can download his/her Aadhaar card. However, it can only be downloaded on
    the mobile number to which Aadhaar has been linked.
  • Aadhaar Card is issued to Indian
    citizens by the Union Government. It is issued and managed by the Unique
    Identification Authority of India (UIDAI), a statutory authority established
    under the provisions of the Aadhaar (Targeted Delivery of Financial and Other
    Subsidies, Benefits and Services) Act, 2016 on 12 July 2016 under the Ministry
    of Electronics and Information Technology (MeitY). It is a document for
    identification.
Harsh Vardhan launches ‘Wood is
Good’ Campaign to promote climate-friendly resource

  • Union Minister of Environment,
    Forest and Climate Change, Harsh Vardhan inaugurated a two-day conference on
    ‘Sustainable landscapes and forest ecosystems: Theory to Practice’ in New Delhi
    on 12 September 2017.
  • The minister launched the ‘Wood
    is Good’ campaign on the occasion under the Forest-Plus programme. The purpose
    of the campaign is to promote wood as a climate-friendly resource and
    substitute to materials like steel and plastic as it is a renewable resource,
    having zero carbon footprint, unlike other materials that leave carbon
    footprint in their production.
  • While emphasising on the need to
    create an enabling environment through small steps such as planting more trees,
    the environment minister urged the gathering to deliberate and come out with
    out-of-the-box ideas and solutions on increasing the forest cover much beyond
    the stipulated 33 percent.
  • “Innovation is the need of the
    hour. Innovation co-efficient now is more important than any other
    co-efficient”, Harsh Vardhan said.
  • The minister further added that
    the target is proposed to be achieved through a number of planned afforestation
    drives and initiatives. Referring to the forests being an integral part of
    Indian culture and tradition, Harsh Vardhan said that India has managed to
    successfully conserve and enhance its forest resources.
Books & Authors
Unstoppable: My Life So Far
authored by Maria Sharapova

  • The book titled Unstoppable: My
    Life So Far authored by tennis star Maria Sharapova was unveiled in September
    2017.
  • The book talks about Sharapova’s
    rise from nowhere to tennis stardom, and the unending fight to stay on top.
  • The book tells how a
    seventeen-year-old Maria Sharapova became an overnight sensation by defeating
    the two-time defending champion Serena Williams to win the prestigious
    Wimbledon.
  • In the book, Sharapova explores
    in detail her pivotal matches and illuminates the relationships that have
    shaped her―with coaches, best friends, boyfriends, and Yuri, her coach,
    manager, father, and most dedicated fan, describing with honesty and affection
    their oft-scrutinized relationship.
Days
International Day of Democracy
observed globally

  • The International Day of
    Democracy was observed across the world on 15 September 2017. The day was
    celebrated this year with the theme ‘Democracy and Conflict prevention’.
  • This year’s theme focuses on the
    critical need to strengthen democratic institutions to promote peace and
    stability.
  • The 2030 Agenda for Sustainable
    Development, which was adopted by world leaders in September 2015 at a historic
    UN Summit, also addresses democracy in Sustainable Development Goal 16.
National Hindi Diwas 2017
celebrated across India

  • National Hindi Divas (Hindi Day)
    was observed across India on 14 September 2017 to promote Hindi as Matra Bhasha
    (mother tongue) of India and to propagate Hindi language and its cultural
    heritage and values.
  • The day is marked by literary festivals,
    Hindi poetry sessions, Hindi essay writing competitions, Hindi speech contests
    and other events.
  • During Hindi Diwas celebrations,
    the Union Government announced the launch of ‘Lila App’ that uses Artificial
    Intelligence to teach Hindi in various languages.
  • The day marks the adaptation of
    Hindi language as the official language of India by the Constituent Assembly of
    India on 14 September 1949.
  • The decision of using Hindi as
    official language was ratified by Indian Constitution via amendment 343 which
    stated that all government communications will be penned in Hindi (Devanagari
    Script). This amendment came into effect on 26 January 1950.
Appointments/Resignations
Former UN Secretary-General Ban
Ki-moon elected as Chair of the IOC Ethics Commission

  • Former United Nations (UN)
    Secretary-General Ban Ki-moon was on 14 September 2017 elected as Chair of
    Ethics Commission of the International Olympic Committee (IOC) for a four-year
    term.
  • Ban succeeds Youssoupha Ndiaye of
    Senegal whose term has come to an end. His appointment was proposed by the IOC
    Executive Board and was approved during the IOC Session in Lima with a 74-4
    majority.
  • Ban’s appointment comes at a time
    when the IOC is under fire again after its Brazilian honorary member Carlos
    Nuzman was arrested on corruption charges for awarding of the 2016 Rio Games.
  • Ban was the eighth
    Secretary-General of the United Nations from January 2007 to December 2016. He
    has had a close relationship with the IOC as in 2009, IOC was granted Permanent
    Observer Status at the UN. He has also been the Olympic torch bearer.
  • Ban’s first action as the
    Secretary General was to introduce a code of ethics to the organisation, which
    applies to all employees. He constituted an Ethics Committee to devise a
    unified set of standards and policies for the entire UN system.
Niti Aayog’s Rajiv Kumar resigns
from DHFL board

  • Niti Aayog Vice Chairman Rajiv
    Kumar has resigned from his post of independent director in the board of Dewan
    Housing Finance Corporation (DHFL), the third largest home loan & housing
    finance company in India.
  • The move came after Kumar got the
    top post at Niti Aayog, the government think tank.
  • DHFL in an official notice stated
    that “Dr. Rajiv Kumar as an independent director on the board of the company
    since 7 August 2015 has expressed his desire to resign from the position of an
    independent director through his letter dated 4 September 2017 due to his
    appointment as Vice Chairman Niti Aayog.”
  • The corporation further stated
    that the board of directors of the company has accepted Kumar’s resignation
    with effect from 11 September 2017.
Sports News
Devendra Fadnavis launches
‘Maharashtra Mission 1 Million’ initiative

  • Maharashtra Chief Minister
    Devendra Fadnavis on 15 September 2017 launched the ‘Maharashtra Mission 1
    Million’ initiative under which, over 10 lakh students across the state will
    play football.
  • The mission was launched in an
    attempt to support the FIFA U17 World Cup, which is happening for the
    first-ever time in India and Maharashtra.
  • The under-17 football world cup
    is set to kick off in October 2017. According to Devendra Fadnavis , the
    mission will not only create football players and lovers of the game, but will
    also help in overall development of the state.
  • Under the initiative, the state
    government aims to ensure that children come out in open spaces and play
    football.
  • Initiating the same, Fadnavis
    himself kicked the ball for a brief while at the Bombay Gymkhana in the
    presence of State Sports minister, Vinod Tawde. The state government also
    distributed 1 lakh footballs in more than 30000 schools.
  • Overall, the inaugural day itself
    saw 1 million kids, students from various schools including visually challenged
    ones, play football creating history.
Goa to host 36th National Games

  • The Indian Olympic Association
    (IOA) on 13 September 2017 formally awarded the rights to host the 36th
    National Games to Goa.
  • The announcement was made by the
    state sports minister Manohar Ajgaonkar.
  • Ajgaonkar said that IOA Secretary
    General Rajeev Mehta, in a letter to Chief Minister Manohar Parrikar, had
    formally conferred the rights to the state to host the sporting event in November
    2017.
  • The Indian Olympic Association,
    the sports organising body of the nation, mooted the concept of the National
    Games to promote the development of sports and of the Olympic movement in
    India, and was responsible for host city selection.
  • The first Modern National Games
    on the lines of the Olympics were held in 1985 in New Delhi.
Obituaries
Constitutional law expert Pavani
Parameswara Rao dies

  • Senior Supreme Court lawyer
    Pavani Parameswara Rao passed away on 13 September 2017 after suffering a
    cardiac arrest in New Delhi. He was 84.
  • Widely considered a doyen of
    Constitutional Law, Rao argued a number of landmark cases before the Supreme
    Court. He had helped develop the argument against the legal challenge to
    President’s Rule in four Bharatiya Janata Party-ruled states, Uttar Pradesh,
    Madhya Pradesh, Rajasthan and Himachal Pradesh, after demolition of the Babri
    Masjid in 1992.
  • He was elected the President of
    the Supreme Court Bar Association in 1991.
  • In 2006, he was honoured with the
    Padma Bhushan.
  • On 4 March 2010, he was awarded
    an LL.D. (Honoris Causa) in recognition of his eminence and contributions to
    the cause of public interest.

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