Current Affairs Update – 12th October, 2015

Hello and welcome to ExamPundit. Here are the Important Current Affairs of 11th and 12th October, 2015. These are very Important for the upcoming IBPS PO V Mains Exam and IBPS Clerk 2015.

RBI inks MoU with
Bank of Botswana for information exchange

  • The Reserve Bank has signed an agreement on information
    sharing with Bank of Botswana under the Supervisory Cooperation and Exchange of
    Supervisory Information.
  • “The Reserve Bank signed a memorandum of understanding
    (MoU) on Supervisory Cooperation and Exchange of Supervisory Information with
    Bank of Botswana,” RBI said in a release today.
  • The MoU was signed by Andrew M Motsomi, Director of Banking
    Supervision on behalf of Bank of Botswana, and Parvathy V Sundaram, Chief
    General Manager-in-Charge, Department of Banking Supervision, of RBI.
  • RBI has entered into similar agreements with a few countries
    to promote greater co-operation and share supervisory information.
  • With this, the Reserve Bank has signed 28 such MoUs, one
    Letter for Supervisory Co-operation and one Statement of Co-operation, it

Yes Bank gets RBI nod
for mutual fund, AMC and trustee co

  • Private sector lender Yes Bank today said it has got the
    Reserve Bank’s approval to set up a mutual fund, asset management company (AMC)
    and a trustee company.
  • In a regulatory filing, Yes Bank said it “has received
    an approval from the RBI to sponsor a mutual fund, and to set up an asset
    management company and a trustee company.”
  • It further said: “In its twelfth year of operation, as
    Yes Bank accelerates into its next phase of growth, this new business
    initiative will provide further acceleration to Yes Bank’s differentiated
    product offerings.”
  • The AMC and trustee company will be wholly-owned subsidiaries
    of Yes Bank, it added.
  • The lender said its AMC will channelise savings of retail
    and institutional investors in equity and debt capital markets.

2015 Annual meetings
of World Bank Group and IMF held in Peru

  • Annual meetings of the World Bank Group and the
    International Monetary Fund were held between 9 October and 11 October 2015 in
    the Peruvian capital Lima.
  • The meetings saw the attendance of central bankers, finance
    ministers and development and private senior executives and academics from the
    member countries of both the World Bank Group and the IMF.
  • The Union Finance Minister Arun Jaitley in his capacity as
    India’s Governor on Board of Governors of IMF and the World Bank led the Indian
    delegation that included RBI Governor Raghuram Rajan and Chief Economic Advisor
    Arvind Subramanian among others.

India, Jordon inked
six MoUs to enhance cooperation

  • India and Jordon on 11 October 2015 inked six Memorandum of
    Understandings (MoUs) in various fields in Amman. The MoUs were signed as part
    of the President Pranab Mukherjee’s state visit to Jordan.
  • Mukherjee was on a three-day visit to Jordan from 10-12
    October 2015. He visited the country on the invitation of His Majesty King
    Abdullah-II Ibn Al Hussein of the Hashemite Kingdom of Jordan.
  • During the visit, Mukherjee was accompanied by Thaawar Chand
    Gehlot, Union Minister of Social Justice and Empowerment, Members of Parliament
    and the learned members of the academic community, apart from official
    delegation and media representatives.

List of
agreements/MoUs signed during the visit of President to Jordan
  1. Agreement on Maritime Transport: Aimed at establishment of
    effective co-operation on the basis of shared commitment, and convinced on
    strengthening and development of relations in merchant shipping and maritime
  2. MoU on exchange of information on structure and content of
    training programmes for diplomats:
    This will include identification of experts
    in mutually agreed areas, promotion of contacts and exchange of trainees,
    students, faculty members and experts.
  3. MoU on Cooperation in the field of IT & Electronics:
    This seeks to examine ways and means to promote and strengthen bilateral
    cooperation and will seek to implement institutional and capacity building
    cooperation programme.
  4. Cultural Exchange Programme for 2015-17: Recalling the
    Cultural Agreement signed on 15 February 1976, it seeks to further develop and
    promote cultural, scientific and technical relation. It also looks forward on
    the agreement on the Executive Programme in the fields of Art & culture,
    Mass media etc.
  5. MoU for Cooperation in the fields of Standardization and
    Conformity Assessment:
    The MoU between the Bureau of Indian Standards [BIS] and
    the Jordan Standards and Metrology Organization [JSMO] seeks to enhance and
    strengthen technical co-operation in the fields of standardization, and
    conformity assessment with the aim of exchanging necessary information and
    expertise between the Parties.
  6. Cooperation Agreement between Jordan News Agency [Petra] and
    Press Trust of India [PTI]:
    It seeks to establish regular exchange of content
    on the developments; promotion of mutual cooperation and professional
    interaction, agreement on exchange of news through the internet; accepting the
    right to use the said news for distribution to their subscribers.

Mission Abaas
launched in Odisha to provide affordable houses to urban poor

  • The Odisha Government on 11 October 2015 launched Mission
    Abaas, state’s urban housing mission, to provide affordable houses to
    Economically Weaker Sections (EWS), Low Income Groups (LIG) and slum dwellers.
  • The scheme aims at fulfilling the promise of protection and
    welfare of slum dwellers by providing affordable housing along with basic
    amenities such as piped water supply, electricity, concrete roads, drainage and
    community centre.
  • As notified in August 2015, Abaas will be the nodal agency
    to execute the Policy for Housing for All in Urban areas.

IRCTC, Apollo
Hospitals tie up for medical tourism

  • The Indian Railway Catering and Tourism Corporation (IRCTC)
    has partnered Chennai-based Apollo Hospitals to offer hassle-free travel for
    people who travel for medical care. IRCTC is also looking to expand the service
    to neighbouring countries such as Sri Lanka and Bangladesh in collaboration
    with airline services and other travel facilitators in those countries.
  • Under the memorandum of understanding (MoU) with Apollo,
    IRCTC will operate a chartered coach from Kolkata to Chennai every 14 days and
    integrate its offerings with the preventive health check-up packages of Apollo
    Hospitals to offer a comprehensive package to the travellers. The coach will be
    stationed in Chennai for three days and will return with the same set of
  • IRCTC will arrange the chartered coach in appropriate trains
    between Kolkata and Chennai, exclusively for passengers who have opted for
    Apollo-IRCTC package.

Indian, Chinese army
kick off anti-terrorism exercise

  • Indian and Chinese armies today kicked off their fifth
    annual anti-terrorism exercise in China’s Kunming city as both the sides seek
    to share their successful experiences in counter-terrorism operations during
    the 10-day drill.
  • India for the first time fielded troops from Naga Regiment
    to take part in the exercises. A contingent of 175 troops from 2nd Battalion of
    Naga Regiment from Eastern Command reached Kunming by IAF IL-76 aircraft
    yesterday to take part in the exercise.
  • Both sides are fielding the same number of troops for the
    joint exercises, which will culminate on October 22, a press release from the Indian
    Embassy here said today.
  • Troops from 14 Corps of China’s Chengdu Military Region,
    which focuses on borders with India are taking in the exercise.
  • Troops of both sides will undergo intensive joint training,
    which will include displays, demonstrations, and a comprehensive joint
  • The purpose of the exercise is to develop joint operating
    capability, share useful experience in counter-terrorism operations and to
    promote friendly exchanges between the armies of India and China, the press
    release said.

Sharad Mehrotra
appointed CEO of Telenor India

  • Sharad Mehrotra has been appointed as the new Chief
    Executive Officer (CEO) of Telenor India.
  • Mehrotra will succeed Vivek Sood who has been appointed
    Executive Vice President and Chief Marketing Officer of the Telenor Group. Both
    appointments will be effective from 1 November 2015, the company said in a
  • Mehrotra was earlier Chief Marketing Officer (CMO) of
    Telenor Myanmar, where he has played a key role in the successful launch of
    Telenor’s mobile services. He was also a part of management in India from
    2008-2013 during establishment of Uninor, now Telenor India. As CEO of Telenor
    India, Mehrotra will also be a member of Telenor Group’s executive management.

KP Sharma Oli elected
as the Prime Minister of Nepal

  • Veteran communist (Unified Marxist Leninist) leader KP
    Sharma Oli on 12 October 2015 was elected as the Prime Minister of Nepal. He is
    the country’s first Prime Minister under the newly introduced constitutional
  • He defeated incumbent Prime Minister Sushil Koirala of the
    Nepali Congress.
  • In the voting held for the Nepal’s Parliament (a house of
    597 members), Oli secured 338 votes, 39 more than the 299 that he needed to be
    elected as the prime minister. On the other hand, Nepali Congress president
    Koirala could only secure 249 votes.            

Jioji Konrote elected
as Fiji’s President
  • Fiji’s Parliament on 12 October 2015 elected the Minister
    for Employment, Productivity and Industrial Relations, Jioji Konrote, as the
    country’s next President.
  • Konrote, who was nominated by the ruling FijiFirst party,
    fetched 31 votes in the presidential election held in the parliament. On the
    other hand, the opposition SODELPA party’s candidate Ratu Epeli Ganilau
    received 14 votes.

Infosys CFO Rajiv
Bansal resigns

  • Infosys on Monday informed the stock exchanges about key
    managerial changes in the organisation. According to a filing, the company said
    that Rajiv Bansal who is the Chief Financial Officer of the company stepped
    down as the CFO and key managerial personnel effective October 12, 2015 (end of
    business hours) and resigned from the services of the company effective
    December 31, 2015.
  • The Board of Directors of the Company in its meeting also
    appointed Ranganath D. Mavinakere, as the new Chief Financial Officer and Key
    Managerial Personnel effective October 12, 2015.
  • Infosys had appointed Rajiv Bansal as the CFO from November
    1, 2012 following the movement of the then CFO V Balakrishnan, to Infosys BPO,
    Finacle and India Business.
  • Mr Mavinakere, is presently the EVP and head of strategic
    operations and CEO’s office. He is associated with the company for over 15
    years and is responsible for strategic planning, risk management, mergers &
    acquisitions and corporate marketing. From January 2008 to July 2013, he was
    the Chief Risk Officer (CRO).

& Honors –
Microeconomist Angus
Deaton won the 2015 Nobel Prize in Economics

  • Microeconomist born in Edinburgh Angus Deaton on 12 October
    2015 won the 2015 Nobel Prize in Economics. He was awarded for his analysis of
    consumption, poverty, and welfare.
  • The key to his work is measuring how public behaviour
    changes if, say, the government raises the VAT rate on food.
  • According to Nobel Committee, “by linking detailed
    individual choices and aggregate outcomes, his research has helped transform
    the fields of microeconomics, macroeconomics, and development economics.”
  • Deaton, aged 69, is based at Princeton, where he researches
    health, wellbeing, and economic development. He is the Dwight D Eisenhower
    professor of economics and international affairs at the Woodrow Wilson School
    of Public and International Affairs at Princeton.

Novak Djokovic
defeated Rafael Nadal to win 2015 China Open Men’s Singles title

  • Novak Djokovic on 11 October 2015 won the China Open Men’s
    Singles title by defeating Rafael Nadal of Spain.
  • In the summit clash held at the National Tennis Centre in
    Beijing, the top seeded Serbian overpowered Nadal by 6-2 6-2.
  • For Djokovic, it was the fourth consequent win in Beijing
    since 2012.
  • Overall, he is the only player to have won the title six
    times. His other two titles were in 2009 and 2010.
  • In early 2015, Djokovic joined Roger Federer and Rod Laver
    as the only men in the Open era to reach all four major finals. His only defeat
    came in the final of the French Open against Stan Wawrinka of Switzerland.

Punjab National Bank
won Beighton Cup of Hockey
  • Punjab National Bank (PNB) on 11 October 2015 claimed the
    Beighton Cup hockey tournament at the Sports Authority of India (SAI) ground in
    Kolkata. PNB defeated Indian Oil Corporation (IOC) by 5-3 in penalties.
  • At the end of regulation time, both teams were locked at
    1-1. Satpal Gulia of PNB had put the team in front in the 30th minute via a
    penalty corner. Three minutes after the half-time, Deepak Thakur of IOC went
    for a field goal.
  • However, Naveen Antil of PNB struck the decisive goal in the
    end to kick off the celebration for the team.
  • PNB goalkeeper Jasbir Singh was awarded with the Best Player
    award, whereas, the Fairplay Trophy was given to Army XI.

Indian shuttler Ajay
Jayaram won 2015 Dutch Open Men’s Singles title

  • Ajay Jayaram of India on 11 October 2015 defended the 2015
    Dutch Open Men’s Singles badminton title.
  • In the summit clash held at Almere in Netheralnds, the World
    Number 26 ranker defeated Estonia’s Raul Must by 21-12 21-18.
  • While Jayaram won his maiden title in 2014, it was the
    fourth overall title for India. The other two titles were won by Prakash
    Padukone and Chetan Anand in 1982 and 2009 respectively.
  • Dutch Open is a Grand Prix category tournament that is held
    annually since 1932 in Netherlands. It is currently organized by Nederlandse
    Badminton Bond (NBB) and is a part of the European Badminton Circuit.

India won four-match
Men’s Hockey Test series against New Zealand by 2-1 margin
  • India on 11 October 2015 won the four-match Men’s Hockey
    Test series against New Zealand 2-1. In the final test played at Christchurch,
    India through its brilliant play held the hosts to a 1-1 draw. 
  • After witnessing no goals in the first half, one each goal
    was scored from both the sides. From New Zealand, Nick Ross scored the first
    goal in the 41st minute which was matched by SV Sunil of India in the 43rd
    minute of the match.
  • After losing the first match of the series in Nelson against
    the hosts, India came back strongly to register back-to-back wins in the last
    two games.

Spaniard Garbine
Muguruza won women’s singles title of China Open
  • Spain’s Garbine Muguruza on 11 October 2015 captured the
    China Open women’s singles title by defeating Switzerland’s Timea Bacsinszky.
    Muguruza emerged out victorious by a perfect 3-0 record against the Swiss
  • The win had Muguruza achieve her career-high singles ranking
    of world no. 4.
  • The China Open was Muguruza’s second WTA title, after she
    won her first at Hobart International in 2014. She had also reached the final
    of the 2015 Wimbledon Championships and made consecutive quarterfinal
    appearances at the 2014 and 2015 French Open.

Fourth International
Day of the Girl Child observed across the world

  • The Fourth International Day of the Girl Child (IDGC) was
    observed across the world on 11 October 2015 with the theme The Power of
    Adolescent Girl: Vision for 2030.
  • To mark the occasion campaigns, meetings and workshops were
    held to across the world to raise awareness about importance of girl child and
    steps to promote gender equality.
  • The theme was selected in recognition of the importance of
    investing in adolescent girls’ empowerment and rights, both today and in the
  • In September 2015, the UN General Assembly reviewed the
    progress of girl child development under Millennium Development Goals (MDGs)
    and approved of continuing the momentum in the form Sustainable Development
    Goals (SDGs) for the period between 2016 and 2030.

Former British
Finance Minister Geoffrey Howe died
  • Geoffrey Howe, Britain’s former treasury chief, died on 9
    October 2015 due to a suspected cardiac arrest in Idlicote, England. He was 88.
  • Howe, who administered Britain’s recovery from recession in
    the 1980s, was a champion of closer European unity.
  • He was Margaret Thatcher’s longest-serving Cabinet minister
    who served as Chancellor of the Exchequer from 1979 to 1983, Foreign Secretary
    from 1983 to 1989, Leader of the House of Commons from 1989 to 1990 and Deputy
    Prime Minister from 1989 to 1990.
  • He hailed as one of the great leaders of the Conservative
    party and emerged out as a quiet hero of the Thatcher years.

Veteran Tamil actress
Manorama died
  • Legendary Tamil actress Gopishantha, popularly known by her
    stage name Manorama, died on 10 October 2015 due to multiple organ failure in
    Chennai, Tamil Nadu. She was 78.
  • Manorama acted in over 1500 movies in her career spanning
    almost six decades. She was also a brilliant comedian, singer and a stage
  • Her first film was Malayitta Mangai, which released in 1958.
    She sang her first song in Ratha Thilagam in 1963. She also sang a song
    composed by A R Rahman for the film May Madham in 1994.
  • She was affectionately called as Aachi Manorama for her
    popular grandmother roles in TV serials, which she played in the later part of
    her career.


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