Current Affairs Update – 4 May, 2017

Hello and welcome to exampundit. Here are the important Current Affairs update of 4 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 – 4 May, 2017

  1. India-Japan economic relationship reached a new
    milestone on Thursday with the public launch of acceptance of JCB cards at NPCI (National Payments Corporation of
    India) network in India
    .
  2. The Insolvency
    and Bankruptcy Board of India (IBBI)
    on 4 May 2017 constituted a Technical Committee to lay down technical standards for performance
    of core services in accordance with
    Regulation 14 of the IBBI (Information Utilities) Regulations, 2017.  The committee will be headed by RB Barman, Chairman of National
    Statistical Commission.
  3. The Union Cabinet, presided by the Prime Minister
    Narendra Modi, on 3 May 2017 gave its ex-post facto approval to the signing the
    Memorandum of Cooperation (MoC) with Japan
    on Railway Safety.
  4. The central government on Wednesday approved a
    cooperation agreement between India
    and Spain in the civil aviation sector.
  5. Indore in
    Madhya Pradesh is India’s cleanest city
    while Gonda in Uttar Pradesh is the dirtiest,
    according to the ‘Swachh Survekshan-2017’, announced by the government here
    today.
  6. India on Thursday successfully
    test fired its medium-range nuclear-capable ballistic missile Agnill off the Odisha coast.
  7. Union Minister of Road Transport and Highways, Nitin
    Gadkari inaugurated two exhibitions, ‘The
    Highway Saga: Past Present & Future
    ’ and ‘Safe Road & Inter-State Highways Transforming India (SRISHTI)
    on 3 May 2017 at the Vigyan Bhawan Lawns in New Delhi.
  8. The Union Cabinet led by Prime Minister Narendra Modi
    on 3 May 2017 approved the declaration of Vijayawada
    Airport as International Airport
    , as per the provisions of Andhra Pradesh
    Reorganisation Act, 2014.
  9. Odisha’s Sualgiri
    and Swalgiri communities in the
    first week of May 2017 were notified as Scheduled Castes following President
    Pranab Mukherjee’s assent to a new law.
  10. NASA Scientists have designed an inflatable greenhouse that could be used one day by astronauts to
    grow fresh food and produce oxygen on Mars
    or Moon.

Financial and Banking News –

NPCI enables
acceptance of JCB cards across ATMs in India

  • India-Japan economic relationship reached a new
    milestone on Thursday with the public launch of acceptance of JCB cards at NPCI
    (National Payments Corporation of India) network in India.
  • With this development, visitors from Japan can now use
    their JCB cards across ATMs & POS terminals in India. Every year, nearly 2
    lakh visitors come to India from Japan.
  • JCB is a global payment company and leading credit card
    issuer and acquirer in Japan.
  • Through this partnership, JCB cards acceptance
    coverage in India is expected to reach about 100 per cent for both ATMs and POS
    terminals in the next six to nine months.
IBBI
constitutes Technical Committee to lay down Technical Standards for performance
of core services

  • The Insolvency and Bankruptcy Board of India (IBBI) on
    4 May 2017 constituted a Technical Committee to lay down technical standards
    for performance of core services in accordance with Regulation 14 of the IBBI
    (Information Utilities) Regulations, 2017.
  • The committee will be headed by RB Barman, Chairman of
    National Statistical Commission.
  • The Committee will give its recommendation for laying
    down Technical Standards for the performance of core services and other
    services under Insolvency and Bankruptcy Board of India (Information Utilities)
    Regulations, 2017.
India expected
to achieve 7.1% growth in 2017: UN report

  • A United Nations (UN) on 1 April 2017 released its
    annual flagship report titled ‘The Economic and Social Survey of Asia and the
    Pacific 2017’. The report was released by UN Economic and Social Commission for
    Asia and the Pacific (ESCAP).
  • The report says India is expected to achieve 7.1 per
    cent economic growth in 2017 as re-monetisation restores consumption and
    infrastructure spending increases. The report said India’s growth would edge up
    to 7.5 per cent next year. These targets will be met by higher private and
    public consumption and increased infrastructure spending.
  • At the same time, the report also warns India by
    saying that the country faces heightened risks related to the concentration of
    bad loans in the public sector banks.
  • Inflation – It was projected to be between 5.3 per
    cent to 5.5 per cent in 2017 and 2018, which means it will be above the
    official target of 4.5 per cent to 5 per cent.
  • Bad Loans – The report also highlights that the
    concentration of the bad loans in the public sector banks carries a risk in the
    financial sector as it reached almost 12 per cent in 2016, which points to the
    need for bank recapitalization.
  • The annual report from ESCAP said that the economic
    conditions were weighed down in late 2016 and early 2017 due to an unexpected
    removal/withdrawal of the two biggest banknotes from the market in November
    2016. These banknotes were subsequently replaced with the new currency. It
    says, this withdrawal led to a liquidity crunch, which in result delayed
    payments of wages and purchase of inputs in the industrial sector.
Union Cabinet
approves cooperation between Indian and Japan on Railway Safety

  • The Union Cabinet, presided by the Prime Minister
    Narendra Modi, on 3 May 2017 gave its ex-post facto approval to the signing the
    Memorandum of Cooperation (MoC) with Japan on Railway Safety.
  • The MoC was signed in February 2017.
  • The MoC also provide a platform for Indian Railways to
    interact and share the latest development and knowledge in the railway sector.
Key
highlights of the MoC:
  • Track Safety
  • Latest technology related to railway track safety
  • Rolling stock safety

Any other relevant railway safety matter jointly
determined by both the sides within the scope of the MoC with consideration for
major railway accident preventions based on the analysis of accident causes.
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Union Cabinet
approves National Steel Policy 2017

  • The Union Cabinet, presided by the Prime Minister
    Narendra Modi, on 3 May 2017 gave its approval for National Steel Policy (NSP)
    2017.
  • The Policy embodies the long term vision of the
    Government to give impetus to the steel sector. 
  • It seeks to enhance domestic steel consumption and
    ensure high quality steel production and create a technologically advanced and
    globally competitive steel industry.
Key
features of the National Steel Policy 2017:

  • Create self-sufficiency in steel production by
    providing policy support & guidance to private manufacturers, MSME steel
    producers, CPSEs
  • Encourage adequate capacity additions
  • Development of globally competitive steel
    manufacturing capabilities
Cost-efficient production
Key
highlights of the Policy:

  • The NSP 2017 aims to achieve 300 million tonnes of
    steel-making capacity by 2030.
  • It seeks to increase consumption of steel and major
    segments are infrastructure, automobiles and housing. It also seeks to increase
    per capita steel consumption to the level of 160 Kgs by 2030 from existing
    level of around 60 Kg.
  • It stipulates that adoption of energy efficient
    technologies in the MSME steel sector will be encouraged to improve the overall
    productivity and reduce energy intensity.
  • Steel Ministry will facilitate research and
    development in the sector through the establishment of Steel Research and
    Technology Mission of India (SRTMI).    
India-Spain
civil aviation Memorandum of Understanding approved

  • The central government on Wednesday approved a
    cooperation agreement between India and Spain in the civil aviation sector.
  • The decision to approve the signing of a Memorandum of
    Understanding (MoU) on cooperation in the sphere of civil aviation was taken by
    the Union Cabinet, whose meeting was chaired by Prime Minister Narendra Modi.
  • “The MoU signifies an important landmark in the
    civil aviation relations between India and Spain, and has the potential to spur
    greater trade, investment, tourism and cultural exchanges between the two
    countries,” the Union Cabinet said in a statement.
News related to India and states –
Swachh
Survekshan 2017: Indore is cleanest city

  • Indore in Madhya Pradesh is India’s cleanest city
    while Gonda in Uttar Pradesh is the dirtiest, according to the ‘Swachh
    Survekshan-2017’, announced by the government here today.
  • The survey results announced by Urban Development
    Minister M Venkaiah Naidu said while Indore is the cleanest city in India,
    Bhopal gets the second position in the cleanliness ranking of 434 cities.
  • The ‘Swachh Survekshan-2017’ ranked Gonda as the
    dirtiest city and Bhusawal in Maharashtra stands second-last in the ranking.
  • Gujarat has the maximum of 12 cities among the top 50
    clean cities, closely followed by Madhya Pradesh with 11 and Andhra Pradesh
    with eight.
  • Uttar Pradesh accounted for half of the bottom 50
    cities in the cleanliness ranking.
India
successfully test fires nuclear-capable Agni-II ballistic missile

  • India on Thursday successfully test fired its
    medium-range nuclear-capable ballistic missile Agni-ll off the Odisha coast.
  • The trial of the surface-to-surface missile was
    conducted from Launch Complex-4 of Integrated Test Range (ITR) in the APJ Abdul
    Kalam Island in Balasore district, said Defence Ministry officials.
  • The Strategic Forces Command (SCF), a specially raised
    missile-handling unit of the Indian Army, carried out the test at 10.20 am.
  • Agni-II has two solid fuel stages and a Post Boost
    Vehicle (PBV) integrated into the missile’s Re-entry Vehicle (RV). The 20-metre
    missile is a two-stage, solid propelled ballistic missile.
  • It has a strike range of more than 2,000 km, is 20
    metres long, weighs 17 tonnes and can carry a payload of 1,000 kg.
Gadkari
inaugurated The Highway Saga & SRISHTI exhibitions

  • Union Minister of Road Transport and Highways, Nitin
    Gadkari inaugurated two exhibitions, ‘The Highway Saga: Past Present &
    Future’ and ‘Safe Road & Inter-State Highways Transforming India (SRISHTI)’
    on 3 May 2017 at the Vigyan Bhawan Lawns in New Delhi.
  • The exhibitions are being conducted as a part of the
    three-day ‘India Integrated Transport and Logistics Summit 2017 (IITLS)’, which
    is being organised by the Ministry of Road Transport and Highways (MoRTH) from
    1 May to 5 May 2017.
  • Speaking on the occasion, Gadkari stated that India
    has, for the first time, started planning for an integrated, multi-modal
    transport system and this is important in order to bring down the logistics
    cost in the country.
Cabinet
approves Vijayawada Airport as International Airport

  • The Union Cabinet led by Prime Minister Narendra Modi
    on 3 May 2017 approved the declaration of Vijayawada Airport as International Airport,
    as per the provisions of Andhra Pradesh Reorganisation Act, 2014.
  • The move will help enhance connectivity to the State
    capital. It will also expand the choice of services for the air travellers and
    that too at competitive costs. This will encourage more international
    passengers to visit the city thereby, boosting domestic and international
    tourism and the socio-economic development of Andhra Pradesh.
  • An airport is declared as an International airport
    depending upon its traffic potential and demand from airline operators for the
    operation of international flights.
  • Other important aspects of such a move include the
    availability of Ground Lighting facilities, Customs, Immigration, adequate
    runway length to cater to medium capacity long-range aircraft or an equivalent
    type of aircraft, Instrument Landing System for the operation of aircraft at
    night and the availability of Health and Animal & Plant Quarantine
    Services.
Odisha’s
Sualgiri, Swalgiri communities notified as Scheduled Castes
  • Odisha’s Sualgiri and Swalgiri communities in the
    first week of May 2017 were notified as Scheduled Castes following President
    Pranab Mukherjee’s assent to a new law.
  • The Rajya Sabha in April 2017 had passed the bill on
    it after it was cleared by the Lok Sabha in March 2017.
  • President Mukherjee gave the nod to the Constitution
    (Scheduled Castes) Order (Amendment) Act, 2017, on 28 April 2017.
  • The Scheduled Castes category status will entitle
    these communities to reservation in government jobs and admission in
    educational institutions, along with other financial benefits.
  • As per the modified list for Odisha, the “Sabakhia,
    Sualgiri, Swalgiri” are notified Scheduled Castes.

World –
NASA’s first
inflatable Greenhouse could enable water recycling on Mars

  • NASA Scientists have designed an inflatable greenhouse
    that could be used one day by astronauts to grow fresh food and produce oxygen
    on Mars or Moon.
  • The first-of-its-kind sample involves an inflatable,
    deployable greenhouse that can support plant and crop production for nutrition,
    air revitalisation, water recycling and waste recycling.
  • The new approach uses plants to scrub carbon dioxide
    while providing food and oxygen for those working in deep space.
  • This way the carbon dioxide exhaled by the astronauts
    will be introduced into the greenhouse and the plants would then generate
    oxygen through the process of photosynthesis.
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Regards

Team ExamPundit