Current Affairs Update – 3 May, 2017

Hello and welcome to exampundit. Here are the important Current Affairs update of 3 May, 2017. These are important for the upcoming SBI PO Mains, NIACL Assistant Mains, BOB Manipal, NICL AO Mains and other exams in 2017 July and August.

Current Affairs at a Glance – 3 May, 2017

  1. The Cabinet on Wednesday approved a Rs 6,000 crore mega agro-processing
    scheme
    to streamline the ongoing initiatives by the government in the food
    processing sector. Targeted at being completed by 2019-20, the SAMPADA (Scheme for Agro-Marine Processing and Development of Agro-Processing
    Clusters
    ), to be administered by the Ministry of Food Processing Industries
    will subsume a host of other schemes under the ministry.
  2. China-sponsored Asian Infrastructure Investment Bank
    today approved $160 million loan for a
    power project in Andhra Pradesh
    , the first credit from the bank for an
    Indian project.
  3. The National Green Tribunal
    announced on 3 May 2017 that anyone found dumping electronic waste (e-waste) on
    the banks of Ramganga River in Moradabad, Uttar Pradesh would
    be fined a sum of Rs one lakh as environment compensation.
  4. Reliance Defence and Engineering Limited (RDEL), controlled by
    Reliance Infrastructure (RInfra), on 2 May 2017 said it has received approval
    for exiting the corporate debt restructuring (CDR) scheme. The approval for
    exit plan of RDEL was granted by the consortium of lenders led by IDBI.
  5. The Union Ministry of Textiles is
    observing Swachhta Pakhwada from 1 May to 15 May 2017. It
    was inaugurated by the Ajay Tamta, Minister of State, Textiles, in Udyog
    Bhawan, New Delhi.
  6. Railways Ministry on 3 may 2017
    announced to build the world’s highest
    railway bridge over the Chenab river in Jammu and Kashmir
    in around two
    years from now. This railway bridge is expected to be 35 metres taller than the
    Eiffel Tower of Paris. The massive arch-shaped structure of bridge is already
    under constructed at a cost of around Rs 1100 crore in hostile terrain.
  7. Prime Minister Narendra Modi on 3
    May 2017 inaugurated Patanjali Research
    Institute
    at Haridwar, Uttarakhand.
  8. Prakash Javadekar, Union Minister
    of Human Resource Development, on 2 May 2017 launched the Vidya Veerta Abhiyan in New Delhi. 
  9. Dubai has activated its visa-on- arrival facility for Indian
    nationals holding a valid US visa or a green card. The first Indian national to
    avail the new facility arrived in the city on 1 May 2017.
  10. Indian Army on 2 May 2017
    successfully test fired Block-III version of BrahMos supersonic cruise missile in the Andaman & Nicobar
    Islands.
  11. Indian actress Priyanka Chopra will be attending a UNICEF’s fundraising event in South
    Africa on 6 May 2017 to highlight the challenges faced by children affected by
    violence there.
  12. World Press Freedom Day was observed worldwide on 3 May 2017 with
    the theme ‘Critical Minds for Critical Times: Media’s role in advancing
    peaceful, just and inclusive societies’.
  13. The World Asthma Day 2017 was observed across the world on 2 May
    2017 with the theme ‘Asthma: Better Air, Better Breathing’.
  14. Mallikarjun Kharge,
    leader of Congress in Lok Sabha, on 2 May 2017 was appointed as the Chairperson
    of the Public Accounts Committee (PAC) of the Parliament.

Financial
and Banking News –
Rs. 6,000-cr mega agro-processing scheme SAMPAD approved by Cabinet

  • The Cabinet on Wednesday approved
    a Rs 6,000 crore mega agro-processing scheme to streamline the ongoing
    initiatives by the government in the food processing sector.
  • It also decided to restore the
    subsidy for states to ensure sale of 1 kg of sugar at a cheaper rate to the
    poorest of the poor, under the public distribution system (PDS).
  • Targeted at being completed by
    2019-20, t he SAMPADA (Scheme for Agro-Marine Processing and Development of
    Agro-Processing Clusters), to be administered by the Ministry of Food
    Processing Industries will subsume a host of other schemes under the ministry.
  • These include the Mega Food Parks
    and Integrated Cold Chain schemes along with the those dealing with Value
    Addition, Infrastructure building, Food Safety and Quality Assurance, among
    others.
  • It is expected to leverage
    investment of Rs 31,400 crore and ensure the handling of 334 lakh million
    tonnes agro-produce valuing Rs 1,04,125 crore, a press release said.
  • It is also expected to benefit 20
    lakh farmers and generate 5,30,500 direct and indirect employment in the
    country by the year 2019-20.
Andhra Pradesh gets $160 mn loan from AIIB for power project

  • China-sponsored Asian
    Infrastructure Investment Bank today approved $160 million loan for a power
    project in Andhra Pradesh, the first credit from the bank for an Indian
    project.
  • The Asian Infrastructure
    Investment Bank (AIIB), in which India is the second largest shareholder after
    China, has approved the project with the objective to strengthen the power
    transmission and distribution system in Andhra Pradesh, said a bank statement.
  • The ’24×7 Power for All’ project
    is part of Government of India’s ‘Power for All programme’ that was launched in
    2014 to provide an efficient, reliable and affordable electricity to all
    consumers across selected states within five years from the start of implementation.
  • The project is co-financed by the
    World Bank.
  • Andhra Pradesh is one of the
    first states selected for the roll out of the programme.
Cabinet approves new NPA policy to deal with stressed assets

  • The Union Cabinet, led by Prime
    Minister Narendra Modi, on Wednesday, has approved a new framework to deal with
    Rs 6 lakh crore worth of non-performing assets in the banking system, a formal
    announcement of which is expected to be made after President’s ascent to few
    Ordinances.
  • The framework includes an ordinance
    to amend the Banking Regulations Act to give more teeth to the Reserve Bank of
    India and its oversight committees to act on behalf of banks while deciding on
    toxic assets.
  • The cabinet also approved a
    National Steel Policy that aims at giving preference to domestically
    manufactured iron and steel products for government’s infrastructure projects,
    a move that would boost the sales of debt-laden companies.
  • It also decided to handover to
    three ITDC Hotels located in Madhya Pradesh, Assam and Rajasthan to the state
    government after the Centre exists its stake in them. The properties would now
    be redeveloped and used as per the state governments requirements.
Industries found illegally dumping e-waste near Ramganga River to pay
Rs 1 lakh

  • The National Green Tribunal
    announced on 3 May 2017 that anyone found dumping electronic waste (e-waste) on
    the banks of Ramganga River in Moradabad, Uttar Pradesh would be fined a sum of
    Rs one lakh as environment compensation.
  • The decision was taken by a bench
    headed by NGT Chairperson Justice Swatanter Kumar. Explaining the move, the
    bench stated that it had been brought to their notice that huge quantity of
    hazardous e-waste generated from various industries in powder form was being
    disposed on the bank of the river and the same was duly verified by a joint
    inspection conducted by Central Pollution Control Board (CPCB).
  • The bench further added that the
    hazardous waste is highly polluted and contains heavy metal, which is injurious
    to both human health and environment.
RDEL gets approval to exit debt restructuring scheme

  • Reliance Defence and Engineering
    Limited (RDEL), controlled by Reliance Infrastructure (RInfra), on 2 May 2017
    said it has received approval for exiting the corporate debt restructuring
    (CDR) scheme. The approval for exit plan of RDEL was granted by the consortium
    of lenders led by IDBI.
  • According to RDEL, it has
    received the approval from the CDR Empowered Group (CDR-EG) for exiting the
    scheme. The company in a statement said, “As part of the refinancing
    scheme approved by the lenders, the door-to-door tenure of RDEL’s term loans
    stands extended to 18 years”.
  • As per the refinancing scheme,
    approved by the lenders, the RDEL’s existing debt of about Rs 650 crore will be
    converted into equity shares at a price of Rs 59.35 per equity share.
  • The company in a statement
    pointed out that RDEL’s shareholders had already approved the “issue of
    equity shares to lenders by conversion of debt”. The approval was granted at
    its extraordinary general meeting that was held on 20 March 2017.
  • The statement also said, “In
    line with the RBI approval, RInfra through its subsidiary has also increased
    its shareholding in RDEL to nearly 31 per cent”.
Union Ministry of Textiles observes Swachhta Pakhwada throughout the
country

  • The Union Ministry of Textiles is
    observing Swachhta Pakhwada from 1 May to 15 May 2017. It was inaugurated by
    the Ajay Tamta, Minister of State, Textiles, in Udyog Bhawan, New Delhi.
  • The aim of the fortnight-long
    observance of programmes is to spread the message of cleanliness.
  • The activities to be undertaken
    by the Union Ministry of Textiles during the Swachhta Pakhwada are:
  • Visit of Minister of State,
    Textiles to Powerloom Service Centres in Delhi/Haryana/Uttarakhand
  • Visit of Minister of State,
    Textiles to Silk Cluster in Haridwar for a special Swachhta drive
  • Seminar on the theme “Waste to
    Wealth” to be organized
  • Films on “Waste to Wealth” to be
    made by NIFT, and to be shown by all organizations
  • NIFT students to be promoted as
    volunteers to lead youth teams for Swachhta activities in all Weavers’ Service
    Centres
News related to India and states –
Railway Bridge taller than Eiffel Tower to be built over Chenab River

  • Railways Ministry on 3 may 2017
    announced to build the world’s highest railway bridge over the Chenab river in
    Jammu and Kashmir in around two years from now.
  • This railway bridge is expected
    to be 35 metres taller than the Eiffel Tower of Paris. The massive arch-shaped
    structure of bridge is already under constructed at a cost of around Rs 1100
    crore in hostile terrain.
  • Designed to withstand wind speeds
    of up to 260 km per hour, the bridge will connect Bakkal (Katra) and Kauri
    (Srinagar).
  • The bridge forms a crucial link
    in the 111-km stretch between Katra and Banihal, which is part of the Udhampur-
    Srinagar-Baramulla rail link project.
  • The construction of this 1.315 km
    long highest bridge will require over 24000 tonnes of steel and will rise 359 m
    above the river bed.
  • The bridge will be made of 63mm
    thick special blast-proof steel as the Jammu and Kashmir region is prone to
    frequent terror attacks.
PM Narendra Modi inaugurates Patanjali Research Institute in Haridwar

  • Prime Minister Narendra Modi on 3
    May 2017 inaugurated Patanjali Research Institute at Haridwar, Uttarakhand.
  • Patanjali Research Institute was
    established with an aim to globally establish the Vedic knowledge of Ayurveda
    of ancient India’s saints and sages.
  • The Patanjali Research
    Foundation, a part of Patanjali Yogpeeth, was founded in August 2010.
  • The institute is named after the
    great Indian sage Patanjali who first compiled the numerous writings on yoga in
    a way which can be understood by people.
  • It will evaluate indigenous
    systems of medicine, particularly yoga and ayurveda.
Prakash Javadekar launches Vidya Veerta Abhiyan

  • Prakash Javadekar, Union Minister
    of Human Resource Development, on 2 May 2017 launched the Vidya Veerta Abhiyan
    in New Delhi. 
  • In addition, the minister also
    released a collage of photo portraits and book on Paramveer Chakra recipients.
    The portraits were presented to Vice-Chancellors of Jawaharlal Nehru
    University, Delhi University, Jamia Milia Islamia, Jammu and IIT Delhi, among
    others.
  • The idea of having a Wall of
    Valour in universities was first proposed by a group of ex-servicemen.
  • The demand came following
    anti-national slogans being allegedly raised in universities.
  • The move came after vice
    chancellors of all central universities decided to install the national flag
    “prominently and proudly” on their campuses in 2016.
Indians having US visa can now attain visa on arrival in Dubai

  • Dubai has activated its visa-on-
    arrival facility for Indian nationals holding a valid US visa or a green card.
    The first Indian national to avail the new facility arrived in the city on 1
    May 2017.
  • The Indian national’s arrival was
    announced by Dubai’s General Directorate of Residency and Foreigners Affairs
    through a post that had the picture of the passenger on the department’s
    official Instagram handle.
  • The decision to grant Indian
    passport holders having either a valid US visa or green card a visa-on-arrival
    facility was approved by the UAE Cabinet in March 2017.
  • The facility was approved to be
    activated from 1 May. A circular regarding the same was given to all UAE
    borders points, including airports and ports.
Indian army successfully test fires Block-III version of BrahMos cruise
missile

  • Indian Army on 2 May 2017
    successfully test fired Block-III version of BrahMos supersonic cruise missile
    in the Andaman & Nicobar Islands.
  • The land-to-land configuration of
    BarahMos Block III version was launched from a Mobile Autonomous Launcher
    (MAL). This was fourth successive successful launch of the missile.
  • It was tested for its full-range
    in order to demonstrate the weapon’s unmatched lethality of hitting the centre
    of a designated target with ‘bull’s eye’ precision.
  • India is also set to conduct the
    maiden test of BrahMos supersonic cruise missile’s air version soon.
Awards & Honors –
Shabana Azmi starrer ‘The Black Prince’ awarded at film fest in Houston

  • Hollywood film ‘The Black
    Prince’, starring Indian actress Shabana Azmi and singer-poet Satinder Sartaaj,
    was on 3 May 2017 awarded the Special Jury Remi Award at the 50th annual
    WorldFest – Houston International Film Festival.
  • ‘The Black Prince’ is a historic
    biopic on the emotional life story of the last king of Punjab – Maharajah
    Duleep Singh and his fragile relationship with Queen Victoria, who was
    Godmother to his children. Maharajah Duleep Singh was also named as the Black Prince
    of Perthshire.
  • Satinder Sartaaj, who marks his
    acting debut with the film, essays the role of Maharajah Duleep Singh while
    Shabana Azmi portrays Rani Jindan, the exiled King’s mother.
Priyanka Chopra to attend UNICEF gala to support violence-affected
children

  • Indian actress Priyanka Chopra
    will be attending a UNICEF’s fundraising event in South Africa on 6 May 2017 to
    highlight the challenges faced by children affected by violence there.
  • Besides the Indian International
    icon, the event would also bring together some of the world’s biggest names in
    order to leverage their support to enhance the care and protection of children
    subjected to abuse, violence, neglect and exploitation.
  • UNICEF issued a statement on the
    occasion, which read that the visit of UNICEF’s Goodwill Ambassador Priyanka
    Chopra to South Africa will highlight the challenges faced by the violence
    affected children there and it would also provide the body with a unique
    opportunity to profile their mandate and values that guide their daily work for
    each child in South Africa.
  • The main activities of the event
    would include a live auction, the proceeds from which would go to the child
    protection programmes of UNICEF South Africa and a fashion show by the
    country’s most renowned Indian-origin designer Gavin Rajah.
Days –
World Press Freedom Day observed globally

  • World Press Freedom Day was
    observed worldwide on 3 May 2017 with the theme ‘Critical Minds for Critical
    Times: Media’s role in advancing peaceful, just and inclusive societies’.
  • Speaking on the occasion, UN
    Secretary-General António Guterres called for an end to all crackdowns against
    journalists, as a free press can advance peace and justice for all. He also
    stressed on the importance of having leaders who will defend the free media and
    counter the prevailing misinformation.
  • The day was commemorated with an
    event and the UNESCO/Guillermo Cano World Press Freedom Prize Ceremony, which
    was jointly organised by UNESCO and the Government of Indonesia along with the
    Press Council of Indonesia in Jakarta, Indonesia.
World Asthma Day 2017 observed globally

  • The World Asthma Day 2017 was
    observed across the world on 2 May 2017 with the theme ‘Asthma: Better Air,
    Better Breathing’.
  • This year theme highlights the
    resurging environmental pollution and its hazardous impacts on health.
  • World Asthma Day is an annual
    event organized by the Global Initiative for Asthma (GINA) to improve asthma
    awareness and care around the world. The Day was established in the year 1998.
  • As per latest reports by World
    Health Organization, over 235 million people suffer from asthma across the
    globe.
Appointments –
Mallikarjun Kharge appointed as Chairman of Public Accounts Committee

  • Mallikarjun Kharge, leader of
    Congress in Lok Sabha, on 2 May 2017 was appointed as the Chairperson of the
    Public Accounts Committee (PAC) of the Parliament.
  • Kharge replaces his party’s K.V.
    Thomas whose term has ended recently.
  • Apart from Kharge, the PAC has 14
    members from Lok Sabha and seven from Rajya Sabha.
  • The members of the PAC from the
    Lok Sabha are Sudip Bandyopadhyay, Subhash Chandra Baheria, Prem Singh
    Chandumajra, Nishikant Dubey, Gajanan Chandrakant Kirtikar, Bhartruhari Mahtab,
    Riti Pathak, Neiphiu Rio, Abhishek Singh, Ram Shanker, Kirit Somaiya, Anurag
    Singh Thakur, Shivkumar C Udasi and P. Venugopal.
  • The members of the PAC from the
    Upper House in the panel are Naresh Agrawal, Satyavrat Chaturvedi, Bhubaneswar
    Kalita, Shantaram Naik, Sukhendu Sekhar Roy, Ajay Sancheti and Bhupender Yadav.
Sports –
Sunil Chhetri wins Hero of I-League 2016-17 Award

  • Bengaluru FC striker Sunil
    Chhetri on 2 May 2017 won the coveted Hero of the League 2016-17 Award.
  • Chhetri won the most number of
    votes cast by coaches and captains of the 10 teams, which took part in the
    I-League. The striker had scored seven goals for fourth-place finishers
    Bengaluru FC.
  • On the other hand, Khalid Jamil,
    who guided Aizawl FC to a historic title win, was chosen as the Coach of the
    Year. He was honoured with the Syed Abdul Rahim Best Coach Award.
Obituaries –
Famous climber Ueli Steck dies in a tragic accident near Mount Everest

  • One of the world’s most renowned
    climbers, Ueli Steck, died in an accident in Nepal near Mount Everest on 30
    April 2017. He was 40.
  • Steck died after falling to the
    foot of Mount Nuptse, a smaller peak in the area. The accident happened when he
    was doing an acclimatizing climb for an attempt of the never-repeated Hornbein
    route on the West Ridge of Everest without supplemental oxygen.
  • Steck was planning to climb
    8850-metre Mount Everest and nearby Mount Lhotse in May 2017.

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