Current Affairs Update – 26 September, 2017

Hello and welcome to exampundit. Here are the Important Current Affairs of 26 September, 2017. These are very important for the upcoming IBPS PO, IBPS RRB, OICL AO, UIIC Assistant & NICL Assistant Exams.

Banking and Financial News
IDBI Bank launches ‘Project
Nishchay’ for turnaround

  • IDBI Bank on Tuesday said it has
    launched ‘Project Nishchay’ in partnership with The Boston Consulting Group
    (BCG) to accelerate its turnaround programme and improve financial performance.
  • The project will be led by senior
    management at IDBI Bank along with BCG, the public sector bank said in a
  • IDBI Bank Managing Director and
    CEO Mahesh Kumar Jain said “BCG will assist us to identify areas for cost
    containment and revenue maximization leading to sustainable growth and
    profitability of the Bank.
  • “With the support from our
    consulting partner, we hope to identify and address existing gaps, capitalize
    on core strengths and improve existing products and processes.”
  • Coordinating across multitude of
    initiatives, the Bank will focus on four key areas – revenue enhancement, cost
    control and reduction, asset productivity and overall program management in
    consultation with BCG.

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Flipkart acquires F1 Info

  • E-commerce major Flipkart on
    Tuesday said it has acquired mobiles and IT products repair services company,
    F1 Info Solutions for an undisclosed amount.
  • Established in 2012, F1 Info
    Solutions has 158 owned and franchised centres and close to 1,000 employees. It
    handles more than 50,000 service calls every month.
  • F1 is a service partner of brands
    such as Apple, Samsung, HP, Lenovo, Sony and Asus, among others.
  • The acquisition will
    significantly expand Flipkart’s offerings to the entire lifecycle of mobiles,
    IT products and consumer electronics, from sales to after sales to repair
    services, Flipkart said in a statement.
  • The company will be a part of
    Jeeves, a Flipkart firm that provides third-party service for large and small
    home appliances and furniture.
  • Shammi Moza, co-founder and CEO,
    F1 Info Solutions, will join Flipkart as a Senior Director as part of the deal.
    He will report to Abhijit Upadhye, Vice-President at Flipkart and the head of
Government Constitutes High Level
Forum on 5G India 2020

  • Government of India has
    constituted High Level 5G India 2020 Forum to take on the global super powers.
    This forum is constituted with three Secretaries from different ministries or
    department Telecom, Meity and DST. It also comprising of renowned experts like
    Mr Gururaj Deshpande – Chairman of Sycamore Networks, Sandstone, USA; Dr. A.
    Paulraj, Professor Emeritus, Stanford University, USA,  Indian industry led by CEOs of ICT industry,
    Telecom Standard Development Organisation of India (TSDSI), Professors from IIT
    Madras, IIT Mumbai, IIT Delhi, IIT Hyderabad, IISc Bengaluru, IT industry and
    stakeholders from industry associations.
  • India is at the cusp of a next
    generation of  wireless of remote
    technology 5G. 5G has been imagined as an foundation for eptending the
    capability of the Networked Society. A computerized of digital transformation
    achieved through the power of connectivity is occurring in practically every
The monetary advantages from the
5G innovation are likewise very gigantic. According to the OECD (Organization
for Economic Cooperation and Development) Committee on Digital Economic Policy,
it has been expressed that 5G advances rollout will help in:
a) Increasing
b) Creating
c) Digitizing
the economy.
For India, 5G gives a chance to
industry to contact global markets, and consumers to pick up with the economies
of scale. Overall nations have come up with similar forum and therefore, India
has joined the race in 5G advances.
News related to India & states
Union Government launches
Platform for Effective Enforcement for No Child Labour Portal

  • Union Home Minister Rajnath Singh
    on 26 September 2017 launched the Platform for Effective Enforcement for No
    Child Labour (PENCIL) Portal during the National Conference on Child Labour
    organised by the Union Ministry of Labour and Employment.
  • Moreover, the ministry also
    launched the Standing Operating Procedures (SOPs) for the enforcement of legal
    framework against child labour.
  • The SOP aims to ensure complete
    prohibition of child labour and protection of adolescents from hazardous labour
    leading to Child Labour Free India.
  • PENCIL portal is an electronic
    platform that aims at involving Centre, State, District, Governments, civil
    society and the general public in achieving the target of child labour free
  • PENCIL Portal (
    encompasses various components- Child Tracking System, Complaint Corner, State
    Government, National Child Labour Project and Convergence.
  • The Districts will nominate
    District Nodal Officers (DNOs) who will receive the complaints.

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Indian Navy commissions INS
Tarasa at Mumbai

  • A Water Jet Fast Attack Craft
    named INS Tarasa on 26 September 2017 was commissioned into the Indian Navy.
  • The craft was commissioned by
    Vice Admiral Girish Luthra, Flag Officer Commanding-in-Chief, Western Naval
    Command at the Naval Dockyard in Mumbai, Maharashtra.
  • INS Tarasa is decked with proven
    design, good endurance, low draught, high speed and manoeuvrability. Therefore,
    the craft is most suited for its primary role of extended coastal and offshore
    surveillance and patrol.
  • This is the second ship of the
    Indian Navy to be named INS Tarasa. The first INS Tarasa was in service of the
    Navy from 1999 to 2014. The new INS Tarasa will be based at Mumbai under the
    operational control of Western Naval Command.
  • It is the fourth and last of the
    follow-on Water Jet FAC’s built by the Garden Reach Shipbuilders and Engineers
    (GRSE), Kolkata. The first two ships of the class i.e. IN ships Tarmugli and
    Tihayu were commissioned in 2016 and are based at Visakhapatnam; while the
    third ship INS Tillanchang was commissioned at Karwar in March 2017. These
    ships are an upgrade of the Car Nicobar class Fast Attack Crafts with the
    Indian Navy, which were also indigenously designed and built by GRSE, Kolkata.
Shashi Shanker appointed Chairman
and Managing Director of ONGC

  • Shashi Shanker in September 2017
    was appointed the Chairman and Managing Director of Oil and Natural Gas
    Corporation Limited (ONGC).The appointment is effective till March 2021.
  • The Appointments Committee of the
    Cabinet (ACC) named Shanker as CMD till his superannuation as against an
    initial one-year term proposed by the Oil Ministry.
  • Shanker is currently serving as
    the Director (Technical and Field Services) at ONGC. He will take charge from 1
    October 2017 when the incumbent Dinesh K Sarraf retires and will have a
    three-and- a-half-year term until 31 March 2021.
  • It is headquartered in Dehradun,
International Day for the Total
Elimination of Nuclear Weapons 2017 observed globally

  • The International Day for the
    Total Elimination of Nuclear Weapons was observed across the world on 26
    September 2017 with an aim to educate the public and their leaders about the
    real benefits of eliminating nuclear weapons and the social and economic costs
    of perpetuating them.
  • Earlier on 7 July 2017, the
    Treaty on the Prohibition of Nuclear Weapons was adopted with an aim of a world
    without nuclear weapons. The Treaty was the result of a global campaign focused
    on the unacceptability of the use of nuclear weapons under any circumstances.
  • The day is observed to enhance
    public awareness and education about the threat posed to humanity by nuclear
    weapons and the necessity for their total elimination in order to mobilize
    international efforts towards achieving the common goal of a weapon.
World News
World’s largest aircraft
successfully passes first engine tests

  • The world’s largest airplane,
    which has been designed to serve as a launching platform for sending rockets
    into low-Earth orbit, has successfully completed its initial engine tests.
  • The plane weighs about 227,000 kg
    and has the biggest wingspan ever built, measuring 118 m from one end to the
  • According to the spaceflight
    company Stratolaunch, which is led by Microsoft co-founder Paul Allen, in the
    initial tests, each of the six engines of the plane operated as expected.
  • The 747 turbofan engines of the
    plane were loaded with fuel and started one at a time and then allowed to idle
    at the Mojave Air and Space Port in California, US.
  • The double-bodied airplane is
    designed to serve as a mobile launch platform to carry rockets into low-Earth
  • The satellite-carrying rockets
    are to be connected to the bottom of the plane.



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