Current Affairs Update – 17th September, 2015

Hello and welcome to ExamPundit. Here are the Important Current Affairs of 17th September, 2015. These are Important for the upcoming IBPS PO V Exam.

• RBI Deputy Governor Urjit Patel today said the central bank
  expected Current Account Deficit (CAD) around 1.5 per cent of the Gross
  Domestic Product (GDP) in the current fiscal.
• “This year, our current account deficit would be in the
  region of 1.5 per cent of GDP,” he said at an event organised by Ficci
  here.
• For the first quarter ended June, CAD narrowed to 1.2 per
  cent of GDP at $6.2 billion following contraction in trade deficit and higher earnings
  from services exports.
• He noted that higher cost of restructuring pushes the cost
  of capital and RBI is trying to address this issue.

• Seeking to further relax foreign investment norms, the
  government is considering increasing the foreign direct investment (FDI) limit
  in private banks to 100%, from the existing 74%.
• The Department of Industrial Policy and Promotion (DIPP) has
  sent a proposal to hike the FDI limit in the private banking industry to the
  Department of Financial Services for its comments, sources said.
• Currently, 74% FDI is permitted in the private sector
  banking, of which up to 49% is allowed under the automatic route and beyond
  that through the approval of the Foreign Investment Promotion Board (FIPB).
• However, portfolio investments in the banking sector can go
  up to 49%.
• The move will help the existing private sector banks,
  payments banks and small finance banks tap overseas markets to enhance their
  capital base. RBI has recently given in-principle approval to 11 entities to
  set up payments banks and 10 for small banks.

• The largest Indian drugmaker, Sun Pharmaceuticals Industries
  Ltd, on 16 September 2015 entered into a deal to acquire US-based InSite Vision
  Inc. for about 300 crore rupees.
• As per the terms of the agreement and merger plan, an
  indirect wholly owned subsidiary of Sun Pharma will make a tender offer for all
  of the issued and outstanding common stock of InSite Vision at 0.35 US dollars
  per share in cash.

• Private equity (PE) investor Blackstone Group LP repurchased
  the India-based Business Processing Outsourcing (BPO) operations of the UK’s
  Serco Group Plc for about 2558 crore rupees. The deal is a combination of
  equity and debt.
• The acquisition is the largest deal by Blackstone in India
  in terms of enterprise value. The deal also marked the re-entry of the PE firm
  in the BPO business.
• Earlier in 2011, Blackstone had sold the BPO business,
  formerly known as Intel net, to Serco for 383 million US dollars.

• Apus Group, one of the world’s biggest Android application
  development companies, on 15 September 2015 tied-up with the Indian mobile
  advertising network InMobi.
• With this tie-up, Bengaluru-based InMobi will share its
  expertise to help Apus establish a larger footprint in India and increase its
  user base. In return, the Beijing-based Apus will help InMobi monetise its
  platform by giving access to over 200 million users across the Apus user
  system.
• The cooperation will include local brand building, user base
  growth, monetization and relevant product technology.

• To provide aid to farmers to overcome drought conditions,
  Actor Nana Patekar in third week of September 2015 established an organization
  named Naam Foundation.
• The Naam Foundation, a brain child of Nana Patekar and
  fellow Marathi actor Makrand Anaspure, was set up for donating money to drought
  affected farmers. The foundation will collect the contributions from people and
  for this purpose Nana Patekar has opened a bank account with State Bank of
  India, where people can deposit money for the cause.
• Money collected by Naam Foundation would also be used to
  provide gainful employment to youth in villages facing drought.

• To manage Godavari’s flood waters which goes waste into the
  sea every year, two Rivers namely Godavari and Krishna were formally linked on
  16 September 2015 in Andhra Pradesh.
• The two rivers were formally linked by Chief Minister N.
  Chandrababu Naidu who released waters from Godavari at Ibrahimpatnam Ferry
  village near Vijayawada.
• To mark the occasion Krishna-Godavari confluence was named
  as Krishna – Godavari Pavitra Sangamam meaning holy confluence in Telugu.

• India and Cambodia on 16 September 2015 signed two MoUs on
  Tourism and Mekong-Ganga Cooperation Initiative. The MoUs were signed in the
  presence of Indian Vice-President Hamid Ansari and Cambodian Prime Minister Hun
  Sen at the Peace Palace in Phnom Penh.
• Vice-President Ansari is on three-day visit to Cambodia from
  15 September to 17 September 2015.
• On the one hand, the tourism MoU is aimed at boosting
  tourist movement between the two countries.

1. 50000 US dollars grant to Cambodia for the upgradation of an
   Entrepreneurship Development Centre in existence since 2004
2. Two projects in healthcare, especially to do with malaria
3. One project on agriculture
4. One on women’s empowerment

• The Union Minister of Finance Arun Jaitley on 15 September
  2015 launched the Headend In The Sky (HITS) digital platform initiative, under
  the brand name NXT DIGITAL promoted by Hinduja Group.
• The platform will provide viewers access to over 500
  television channels of their choice be it international, national, regional and
  local; besides a host of other services like e-applications and TV everywhere.
• Customers in Andhra Pradesh, Telangana, Maharashtra, Punjab
  and Karnataka will now have greater access to channels of their choice with
  other states soon joining in. The customers will now pay for what they want to
  see and it will also enable increase in revenues to the government due to full
  transparency.

• International Olympic Committee (IOC) on 16 September 2015
  announced name of five cities namely Los Angeles, Hamburg, Paris, Rome and
  Budapest as candidates to host the 2024 Summer Olympics.
• The final list of bidders was declared after the deadline
  for submissions ended on 15 September 2015.
  IOC will elect the winning bid at its session in Peru in 2017.
• Out of the five cities, Los Angeles and Paris has hosted the
  games twice. Los Angeles hosted the Olympic Games in 1932 and 1984 while Paris
  hosted the 1900 and 1924 Olympics.
• If any one of the two cities wins the bid to host the game,
  then they will join London to host the prestigious games three times. London
  hosted the Olympic Games in 1908, 1948 and 2012.

• India Cements on 16 September 2015 won the Moin-ud Dowlah
  Gold Cup Tournament 2015-16 by defeating Hyderabad XI. This was the third title
  for the winning team.
• The final match was held at the Rajiv Gandhi International
  Cricket Stadium in Hyderabad.
• India Cements stood victorious by virtue of taking the
  first-innings lead against Hyderabad XI in the three-day final match.
• For India Cements, while bowlers Vignesh and L Balaji played
  a crucial role by picking up three wickets each, its captain and
  player-of-the-final Abhinav Mukund stood for the team with a centuary.
• B Anirudh, Hyderabad President’s XI batsman, was declared as
  the player of the tournament for scoring three centuries in the tournament.
• The trophy and the awards were handed over by the ICC
  President Zaheer Abbas.

• Railways shot putter Manpreet Kaur on 16 September 2015
  shattered an 18-year-old national record en route to a sixth title at the 55th
  National Open Athletics Championship at Kolkata.
• Patiala-based shot putter broke the record of Harbans Kaur
  of 17.43 metres that came in 1997 by throwing 17.96 metres in her second
  attempt to claim the gold medal, a hat-trick of titles at the National Open.
• With this, Manpreet Kaur (25) also qualified for the Rio
  2016 Olympics that is scheduled to be held from 5 August to 21 August 2016.
• The IAAF entry standard for 2016 Rio Olympics in women’s
  shot put is 17.80m, while the top three in London 2012 Olympics threw 20m plus.

• In another senior-level executive exit at full service
  carrier Jet Airways, Krishnan Balakrishnan, its Vice President (fleet and
  management control) has joined GoAir as the chief financial officer (CFO) on
  Wednesday.
• Balakrishnan replaces Siddhartha Datta, who quit the airline
  some time back to pursue other “interests”, according to the
  Mumbai-based airline GoAir.
• Before joining GoAir, Balakrishnan, a chartered and cost
  accountant, was looking at aircraft acquisition and leasing, legal compliances,
  tax issues and negotiations at Jet Airways.

• Afghan refugee teacher Aqeela Asifi was on 15 September 2015
  awarded with the 2015 Nansen Refugee Award by United Nations High Commissioner
  for Refugees (UNHCR). Asifi dedicated her life to bring education to refugee
  girls in Pakistan.
• Aqeela Asifi was awarded for her brave and tireless
  dedication to education for Afghan refugee girls in the Kot Chandana refugee
  village in Mianwali, Pakistan. Despite minimal resources and significant
  cultural challenges, Asifi guided a thousand refugee girls through their
  primary education.
• Asifi is a former teacher who fled from Kabul with her
  family in 1992, finding safety in the remote refugee settlement of Kot
  Chandana. She was dismayed by the lack of schooling for girls in the village.
  But she was determined to give these girls a chance to learn and with time she
  convinced the community and began teaching just a handful of pupils in a
  makeshift school tent.

Regards

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