Current Affairs Update – 10th, 11th & 12th November, 2015

Hello and welcome to ExamPundit. Here are the Important Current Affairs of 10th, 11th and 12th November, 2015. These are Important for the upcoming IBPS Clerk exam as well as Other Banking Exams.

• The changes in the foreign direct investment (FDI) policy
  will help listed companies in the real estate and construction sector.
• Removing the caps on project size, giving greater
  flexibility in transfer of investments to other overseas investors and allowing
  investments in completed projects will attract more investments into this
  sector.
• Merging the sub-limits for FPIs and foreign direct
  investment in private sector banks will help those banks that are close to
  hitting their FPI investment caps. They will now have higher head-room to woo
  foreign portfolio investors.
• The earlier 20,000 sqm cap on minimum built-up area of
  projects in which FDI was allowed has now been removed.
• There is also no minimum capitalisation requirement for
  projects. The capital requirement was reduced to $5 million in December 2014
  from $10 million earlier. The removal of these caps will allow foreign
  investors to plough money into smaller projects as well. Earlier, exit was allowed
  only after three years of meeting minimum capitalisation; this, too, was
  relaxed last December.
• Investors could also exit after completing basic
  infrastructure such as roads, water supply, street lighting, drainage and
  sewage, even if the lock-in period was not met. Now, the development has been
  broken into different phases and exits will be linked to meeting requirements
  in each phase.
• Also, the lock-in for transfer of stake from one
  non-resident to another has been done away with.

• GSAT-15, the nation’s newest communications satellite, was
  launched in the wee hours of Wednesday from Kourou in French Guiana in South
  America.
• The 3,164-kg spacecraft will replace the ageing Insat-3A and
  4B spacecraft that are in the same orbital slot when they expire.
• Its 24 transponders in the Ku-band will mainly cater to
  public and private direct-to-home broadcasters besides VSAT operators. (A
  majority of private operators use capacity leased on foreign spacecraft).
• GSAT-15’s lone GPS-augmentation or GAGAN transponder in the
  L1 and L5 bands will ensure back up for GPS-based satellite navigation across
  the region.
• ISRO has chosen Arianespace to launch telecommunication
  satellites GSAT-17 and GSAT-18. The two satellites will be launched by Ariane 5
  launch vehicles at the Guiana Space Centre, Europe’s spaceport in Kourou,
  French Guiana in 2016-2017.

• Former RBI Deputy Governor Subir Gokarn was today appointed
  as an Executive Director on the board of the International Monetary Fund (IMF).
• Gokarn will represent India, Bangladesh, Sri Lanka and
  Bhutan on the Washington—based IMF’s Executive Board, which is responsible for
  conducting the day—to—day business of the multilateral institution.
• The name of 56—year—old economist was cleared by
  Appointments Committee of Cabinet headed by Prime Minister Narendra Modi, as
  per an order issued by the Department of Personnel and Training,.
• On the IMF Executive Board, Gokarn will replace Rakesh
  Mohan, whose three year tenure ends this month. The order did not mention the
  tenure for Gokarn. Mohan has also been a Deputy Governor at RBI. The current
  RBI Governor Raghuram Rajan has incidentally been Chief Economist at IMF.

• Former Chief Justice of Delhi High Court, Justice Ajit
  Prakash Shah, was on 9 November 2015 appointed as the ethics officer
  (ombudsman) at Board of Control for Cricket in India (BCCI). He will preside as
  the sole decision maker on all conflict of interest issues plaguing Indian
  cricket.
• The decision to appoint an ombudsman was taken at the
  Board’s 86th Annual General Meeting to end the problem on conflict of interest
  in the Board. This is being considered as a BCCI’s clean-up operation.
• The clean-up operation has been triggered by the 2013 IPL
  spot-fixing scandal, which was investigated by the Supreme Court-appointed RM
  Lodha committee.

• Pakistan’s veteran batsman Younis Khan has announced his
  retirement from one-day international cricket, saying the first day-night game
  against England here today will be his last match.
• The national selectors had, in a surprise move, recalled
  Younis for the four-match ODI series against England after ignoring him for
  this format since the World Cup early this year in Australia and New Zealand.
• The 37-year-old will be appearing in his 265th one-day
  international today, nearly 16 years after making his debut against Sri Lanka
  in Karachi in February 2000.
• Going into his last match, Younis has scored 7,240 runs with
  seven hundreds and 48 half-centuries in one-dayers.
• Since March 2013, Younis has been picked for only 11 ODIs,
  putting a big question mark on his future in the 50-over format.

• The Board of Control for Cricket in India (BCCI) on 9
  November 2015 excluded Barabati stadium in Cuttack, Odisha from the list of
  newly declared Test venues.
• Barabati Stadium was excluded from the list after Cricket
  fans hurled plastic bottled onto the ground forcing the match referees to stop
  the match for some time.
• The bottles were thrown during India’s dismal batting
  display in the 2nd T20 International match against South Africa on 5 October
  2015. The visitors had won the match.

• Richard Proud-chaired Independent Commission (IC) on Doping
  in Sports submitted its report to the World Anti-Doping Agency (WADA). The
  report was submitted on 9 November 2015 in Vienna, Switzerland.
• WADA launched the IC in December 2014 to investigate the
  validity of allegations of doping practices, corrupt practices around sample
  collection, results management, etc that implicate Russian Government agencies,
  labs, athletes, coaches among others.

• The World Science Day for Peace and Development, dubbed
  World Science Day, was observed on 10 November 2015 across the world. The theme
  for 2015 is Science for a Sustainable Future.
• To mark the day, the United Nations Educational, Scientific
  and Cultural Organization (UNESCO) conducted several discussions, special
  campaigns, visits to science museums for school children, etc to raise
  awareness of benefits of science worldwide.
• For 2015, the theme Science for a Sustainable Future is
  chosen against the backdrop of 2030 Agenda for Sustainable Development as
  approved by the UN.

• India on 9 November 2015 was re-elected by the General
  Assembly to a six year term on the United Nations Commission on International
  Trade Law (UNCITRAL).
• Apart from India, 22 other countries including the United
  States and Pakistan were also re-elected to the UNCITRAL.
• The Monday election was the fifth election that India has
  won in 2015. The country also won the re-election to the UN Human Rights
  Council held in 2014.

• A 46-year-old Indian-origin community campaigner in the UK
  has been named a “Point of Light” by British Prime Minister David
  Cameron for her “fantastic” charity work and empowering young people,
  including women.
• Muna Chauhan was recognised for her work as a children’s
  charity fundraiser and empowering hundreds of women and young people to get
  involved with their community as volunteers.
• The award has been developed in partnership with the hugely
  successful Points of Light programme in the US. It honours outstanding examples
  of individual volunteering across the US and the UK.
• Apart from encouraging others to volunteer, Chauhan has
  helped raise over 5 million pounds for various international development
  charities and NGOs.

Regards

Team ExamPundit

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