Current Affairs Update – 4 November, 2017



Hello and welcome to exampundit. Here are the Important Current Affairs of 4 November, 2017. These are important for the upcoming IBPS PO, Clerk Mains, NICL Assistant, OICL AO exams.

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Financial & Banking
News
AU Small Finance gets scheduled
commercial bank status

  • AU Small Finance Bank has
    received Reserved Bank of India (RBI) approval to operate as Scheduled
    Commercial Bank. This bank’s name has now been included in the Second Schedule
    of Reserve Bank of India Act, 1934.
  • Post acquiring scheduled
    commercial bank status, AU Small Finance Bank will be able to do borrowing and
    lending with RBI under Liquidity Adjustment Facility (LAF) and Marginal
    Standing Facility (MSF) .
  • Also, it will help AU Small
    Finance Bank to acquire business from public sector undertakings (PSUs),
    corporates, banks, mutual funds, insurance companies and other market
    participants which can transact with scheduled banks only to comply either regulatory
    or internal guidelines.
  • It will also enable AU Small
    Finance Bank to issue Certificate of Deposits (CDs) on competitive interest rates
    in market to get liquidity.
  • AU Small Finance Bank started its
    banking operation from April 19 this year. The development will not only widen
    the reach for AU Bank’s services and liability capabilities but also influence
    its growth prospects in future, a statement issued by the bank said..
  • Prior to becoming a bank, as Au
    Financiers (India) Ltd (an Asset Finance NBFC), the company had gained over 20
    years of experience in financing the unbanked and underbanked segment in rural
    and semi urban areas.
Rs 10,000 Crore MoU signed
between Govt of India & Patanjali

  • A memorandum of understanding
    (MoU) of Rs 10, 000 Crore was signed between the Government of India (GoI) and
    Patanjali on Friday at the World Food India 2017.
  • The MoU was signed by Managing
    Director of Patanjali, Acharya Balkrishna and Harsimrat Kaur Badal, the Union
    Cabinet Minister of Food Processing in the Government of India.
  • Speaking to ANI, Acharya
    Balkrishna said, “World Food India 2017 is a great initiative. This will
    generate new opportunities. This event will help people.”
  • The World Food India 2017
    organised at Delhi’s Vigyan Bhawan was inaugurated by Prime Minister Narendra
    Modi earlier in the day.
  • The three day-long event,
    organised by the Ministry of Food Processing Industries, is set to host a
    congregation of global investors and business leaders of major food companies
    from November 3 to 5 in New Delhi.
  • Earlier in October, Patanjali
    climbed from 45th place last year to 19th this year, in the Forbes magazine’s
    Annual India Rich List 2017.
Yes Bank signs MoU with govt for
Rs 1,000 cr financing

  • Private sector lender Yes Bank
    today signed an agreement with the government to provide Rs 1,000 crore
    financing for food processing projects.
  • The funding will be provided to
    around 100 food processing projects with an average ticket size of Rs 10 crore
    each, the bank said in a statement.
  • Focus will be on projects across
    backend infrastructure, cold chain creation of new processing units, expansion
    of existing units, forward linkages and food processing clusters in various
    locations in India, amongst others, it added.
  • The memorandum of understanding
    (MoU) amid the ongoing three-day World Food India being organised by the Food
    Processing Ministry.
  • At World Food India event, Yes
    Bank is anchoring ‘Food Processing Start-Up Awards’ institutionalised along
    with the government to boost start-up ecosystem in the country.
  • Over 150 applications were
    received, of which the top 20 have been selected on the basis of scalability
    and enterprising innovations across six areas namely products, technologies,
    food safety, supply chain, cold chain & packaging, the bank said.
  • Top three promising and
    innovative startups will be awarded by the President of India during the
    valedictory session of the event on November 5, it added.
MoU signed for Rs.6,000 cr mega
food processing zone in Telangana

  • Telangana State would soon boast
    of a Mega Food Processing Zone, IT and Industries Minister K T Rama Rao said on
    Friday.
  • The Minister, who held meetings
    with representatives of several companies in New Delhi at the Wold Food India
    Conference, said an agreement to set up the zone has been finalised. Dakshin
    Agropolis signed a Memorandum of Understanding worth Rs 6,000 crore to
    establish a food processing zone at NIMZ in Zaheerabad, and would require 300
    acres.
  • The food processing zone would
    generate employment for about 6,000 people which would consist of 5,000 women
    and 1,000 men, he said. The initial investment of Rs 6,000 crore would be used
    for setting up food processing units at a cost of Rs 2,500 crore and Rs 3,500
    crore would be spent on setting up a Farmers Producers Organization (FPO).
  • On the first day of the World
    Food India Conference, the State government signed two agreements and on
    Saturday, it is expected to sign another ten agreements. These agreements would
    bring investments to the tune of Rs 7,500 crore to the State.
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News related to India & States
India sets Guinness Record for
cooking 918 kgs of Khichdi

  • India has achieved a Guinness
    World Record feat while putting the spotlight on the humble Indian dish
    Khichdi.
  • At the ongoing World Food India
    event, 918 Kgs of Khichdi was prepared using a 1000 litres stainless steel
    kadhai at the India Gate Lawns at New Delhi on Saturday, in a bid to promote
    Indian ingredients and cuisine and created a new Guinness World Record.
  • A team of 50 people led by Chef
    Sanjeev Kapoor, the brand ambassador of The Great Indian Food Street, and
    Akshaya Patra prepared the Khichdi. The world-record ceremony was attended by
    Minister of Food Processing and Industries Harsimart Kaur Badal and Patanjali
    Group founder Baba Ramdev among others.
  • Badal said Khichdi is a wonder
    staple food of India consumed across the length and breadth of the county by
    rich and poor alike. She said that Khichdi symbolises India’s great culture of
    unity in diversity. “It is our message of unity to the world from the World
    Food India,” she added.
  • Kapoor said, “The largest serving
    of Khichdi was made by using Indian ingredients such as Chawal, Moong Beans,
    Amaranth, Jowar, Bajra and Indian spices to make it nutritious and high
    protein.”
  • It took over three months of
    planning and multiple trials in attempting to cook over 800 kgs of Khichdi. A
    giant kadhai of the capacity of 1000 litres and 7 feet in diameter, was
    specially designed for this event.
India successfully tests its
first fully indigenous Glide bomb

  • The Union Government announced on
    3 November 2017 that an indigenously developed lightweight ‘Glide’ bomb was
    successfully tested in Chandipur in Odisha.
  • The development marks a major
    milestone in developing such weapons. The bomb – SAAW (Smart Anti Airfield
    Weapon) – was dropped from an Indian Air Force aircraft at the Integrated Test
    Range (ITR) in Chandipur on 2 November.
  • The bomb released from the aircraft
    and guided through precision navigation system reached the targets greater than
    70 km range with high accuracies.
  • A total of three tests with
    different release conditions and ranges were conducted successfully.
  • The bomb has been developed by
    the Research Centre Imarat (RCI), Defence Research and Development Organisation
    (DRDO), along with other laboratories of the DRDO and the Indian Air Force.
Awards & Honors
Krishna Sobti chosen for
prestigious Jnanpith award 2017

  • Krishna Sobti, renowned Hindi
    litterateur, will be honoured with the 53rd Jnanpith Award for the year 2017.
  • The decision was announced by the
    Jnanpith Selection Board at a meeting of the selection committee held on 3
    November 2017. The meeting was chaired by renowned Hindi critic Namwar Singh.
  • The 92-year-old writer was chosen
    for the prestigious award for her path-breaking contribution in the field of
    literature.
  • The jury for the selection of the
    award comprised Girishwar Mishra, Shamim Hanifi, Harish Trivedi, Ramakant Rath
    and the director of the Bharatiya Jnanpith Leela Dhar Mandloi.

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