Current Affairs Update – 15-16 August, 2017

Hello and welcome to exampundit. Here are the Important Current Affairs of 15 & 16 August, 2017. These are very important for the upcoming IBPS PO, IBPS RRB, OICL AO, UIIC Assistant & NICL Assistant Exams.

Banking & Financial
GeM and CII sign MoU to establish GeMSamvad

  • The Government eMarketplace (GeM)
    SPV and the Confederation of Indian Industry (CII) on 14 August 2017 signed a
    Memorandum of Understanding (MoU) to establish GeMSamvad, a GeM -Industry
  • GeMSamvad will be a participative
    and collaborative approach with the industry for promoting Indian industry and
  • The MoU was signed by S Radha
    Chauhan, CEO of GeM and Chandrajit Banerjee, DG of CII.
  • GeM and CII will work together to
    create GeM related awareness and onboard industry members from across the
  • It also includes creation of
    GeM-Industry Forum for collaboration with the Indian Industry for seeking
    inputs on the technical specifications of products.
  • It calls for improving the
    quality of products procured from the MSMEs and organize annual Public
    Procurement Convention of all stakeholders.
  • It also calls for setting up of
    GeM Resource Centres at CII Regional Offices.
India to host next steering committee meeting of TAPI gas pipeline

  • India will host the next steering
    committee meeting of the proposed Turkmenistan-Afghanistan-Pakistan-India
    (TAPI) gas pipeline.
  • The decision was taken during the
    sixth joint Inter-Governmental Committee (IGC) meeting on trade, economic,
    scientific and technological cooperation.
  • The
    Turkmenistan–Afghanistan–Pakistan–India Pipeline, also known as
    Trans-Afghanistan Pipeline, is a natural gas pipeline being developed by the
    Asian Development Bank (ADB).
  • The pipeline will transport
    Caspian Sea natural gas from Turkmenistan through Afghanistan into Pakistan and
    then to India.
  • On 24 April 2008, Pakistan, India
    and Afghanistan signed a framework agreement to buy natural gas from Turkmenistan.

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News related to India and states
Cabinet approves MoU between India, Sweden on IPR

  • The Union Cabinet on Wednesday
    cleared MoU signed between India and Sweden on intellectual property right
    (IPR) cooperation, aimed at benefiting entrepreneurs, investors and businesses.
  • The Cabinet meeting, chaired by
    Prime Minister Narendra Modi, approved the memorandum of understanding (MoU),
    an official statement said.
  • This will enable India to
    exchange experiences in innovation and IP ecosystems.
  • “The MoU establishes a
    wide-ranging and flexible mechanism through which both countries can exchange
    best practices and work together on training programmes and technical exchanges
    to raise awareness on IPRs and better protect intellectual property
    rights,” the statement read.
  • The government hopes that the MoU
    signing will further the objective of National IPR Policy, 2016, and sees it as
    a landmark step towards becoming a major player in global innovation.
World News
Italy to host G-7 Interior Ministers’ summit on security

  • Italy would be hosting the summit
    of the Group of Seven Interior Ministers on security issues in October 2017.
  • According to Italy’s Interior
    Minister, Marco Minniti, the meeting is being organised at the request of
    Italy’s G-7 partners- Canada, France, Germany, the United Kingdom, Japan and
    the United States.
  • While speaking at a press
    conference, the Minister stated that while the terror alert level remains high
    in Italy, there is no trace of an imminent threat or attack.
  • Minniti further said that since
    the beginning of the year 2015, Italy has deported over 199 foreigners, who
    were suspected of posing security threats to the nation. The people, according
    to the minister, initially showed signs of radicalisation but were expelled
    before they could reach the stage of planning an attack.
  • Italy currently holds the
    rotating helm of the G-7 industrialised nations.

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Sports News
Alexander Zverev beats Roger Federer to win 2017 Rogers Cup

  • Germany’s Alexander Zverev on 13
    August 2017 defeated Roger Federer 6-3 6-4 to claim his second Masters 1000
    title in Montreal, Canada.
  • With this, Zverev became the
    third man to beat Federer in the year 2017.
  • By claiming the 2017 Rogers Cup,
    Zverev became the first player outside the Big Four to win multiple Masters
    1000 titles in a season since David Nalbandian in 2007.
Olympic Task Force recommends steps to improve sports in India

  • The eight-member Olympic Task
    Force (OTF) that submitted its report in the second week of August 2017 has
    emphasised the need to be “athlete-centric, coach-led and
  • They submitted an extensive
    report titled as “Preparation of 2020 Tokyo Olympic and Paralympic
    Games” to the Sports Secretary, Injeti Srinivas. The report focuses on
    three fold formula of being athletic-centric, coach-led and system driven.
Highlights of the extensive document

  • The extensive document is divided
    into three parts and they are key takeaways, an executive summary and the main
  • It calls for the establishment of
    an Empowered Steering Committee (ESC) to drive all initiatives. ESC will be
    responsible for ensuring proper preparation for Tokyo 2020 Olympics and it
    should have full financial autonomy. The ESC should be supported by a special
    cell that will take care of all the logistical issues for athletes, so they can
    concentrate on training alone.
  • It calls for the appointment of
    an internationally acclaimed High-Performance Director who will be working with
    the Empowered Steering Committee.
  • It calls for a removal of the cap
    on salary for the Indian coached and support staff.
  • It suggests that former athletes
    should be encouraged to return to respective sports as coaches, and support
    staff on deputation.
  • It asks for issuing Pradhan
    Mantri Gold Card for the elite potential athlete and their coaches as an
    identity of being a ‘National asset’. It says that this card will provide them
    with facilities like emergency quota for air/train/bus tickets as well as
    hassle free access at various places.
  • It says that athletes should have
    an access to a 24×7 National Anti Doping Agency (NADA) helpline, where they can
    seek advice on any doubt.



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