Current Affairs Update – 1st September, 2015

Hello and welcome to ExamPundit. Here are the Important Current Affairs of 1st September, 2015. These are Important for the upcoming IBPS PO V Exam. We are also providing 5 Stock GK Expected Questions.

• The RTGS system, which allows real time transfer of large
  funds, will not be operated on second and fourth Saturdays with banks observing
  public holiday on that days, the Reserve Bank said on Tuesday.
• However, the system will operate for full days on other
  Saturdays of a month, RBI said in a notification.
• Banks are observing public holiday on every second and
  fourth Saturdays of a month.
• RBI has also effected changes in RTGS time window.
• As per the new time schedule for regular days, including
  Saturdays except second and fourth, business opening would be at 0800 hours
  while initial cut off (customer transactions) would be 1630 hours. The final
  cut-off (inter-bank transactions) will be at 1945 hours and IDL reversal
  between 1945-2000 hours.
• The close of business is at 2000 hours.
• As per earlier timings for Saturdays or short days, the
  initial cut-off was at 1400 hrs and final cut off at 1500 hours.
• The close of business was at 1530 hours.
• RTGS means Real Time Gross Settlement which refers to
  continuous or real time settlement of funds.
• It is primarily meant for large value transactions. The
  minimum amount to be remitted through RTGS is Rs 2 lakh. There is no upper
  ceiling for RTGS transactions.

• India remained the fastest growing major economy of the
  world for a second straight quarter, with GDP growing at 7 per cent during
  April-June 2015 against 6.7 per cent in April-June 2014. Growth in the previous
  quarter, January-March 2015, was, however, higher at 7.5 per cent.
• Data released the Central Statistics Office (CSO) on Monday
  showed marginal improvement in private consumption expenditure but gross
  capital formation rate — a barometer for investments — continued to decline. It
  was down to 27.8 per cent from 29.2 per cent in April–June 2014.
• A source at the CSO explained that growth would have been
  better had it not been for the poor rabi crop.
• Growth during the quarter was driven primarily by the
  services sector. The manufacturing and construction industries recorded
  favourable growth too. The agriculture sector saw a decline, growing at a mere
  0.6 per cent. Growth also slowed in the sectors ‘mining and quarrying’ and
  ‘electricity, gas, water supply and utility services’.
• In terms of the gross value added, (GVA) growth was 7.1 per
  cent against 7.4 per cent in April-July 2014. The revised methodology for GDP
  (Gross Domestic Product) calculation subtracts subsidy and adds taxes to the
  GVA to arrive at the GDP.
• The Modi Government’s budget announcement of higher public
  spending this financial year did not reflect in the data released as at growth
  was low at 2.7 per cent in ‘public administration, defence and other services’.

• The Union Ministry of Urban Development on 1 September 2015
  gave approval for Smart National Common Mobility Card (NCMC) model for seamless
  travel across India.
• The model will enable commuters to travel by different
  metros and other transport systems across the country besides retail shopping
  and purchases.

• It is based on EMV Open Loop Card system with stored value
  model.
• It meets travel needs based on stored value of money and can
  be used for travelling by any means of transport and also enables account based
  retail applications.
• The model is an improved version of nationwide common card
  prevalent in Singapore.
• The National Payments Corporation of India (NPCI) will be
  involved in indigenous development and management of Clearing and Settlement of
  payments, Simulating Cards, Terminals and network, a support base of vendors
  for providing certified tools, cards, terminals and other services.
•  The Centre for
  Development of Advanced Computing (C-DAC) will develop the standards and
  hardware for Metro gates/validators along with related ecosystems.
• Funding of 4.47 crore rupees approved by the ministry for
  developing the model.

• Anil Ambani’s film production and distribution outfit
  Reliance Entertainment has tied up with French film production and distribution
  house Pathe to distribute director Gurinder Chaddha’s next movie titled
  Viceroy’s House.
• This is the first time that Pathe has collaborated with an
  Indian outfit for the distribution of a film.
• Pathé will distribute the film in the UK and France and will
  handle sales throughout the rest of the world while Reliance Entertainment will
  distribute the film in India.
• The company holds leadership position in the art-house and
  indie film distribution space in the UK and France.
• Apart from producing and distributing films (in cinema and
  home video), the company also owns cinema halls in France, Netherlands and
  Switzerland (total of 1,000 screens).

• Anjuly Chib Duggal, a Punjab cadre IAS officer, has assumed
  charge as Secretary in the Department of Financial Services in the Finance
  Ministry.
• She has replaced Hasmukh Adhia, who has taken over as
  Revenue Secretary in the same Ministry.
• Prior to taking over as Financial Services Secretary, Anjuly
  was holding the charge of Corporate Affairs Secretary.
• She had also earlier worked in various capacities including
  Joint Secretary, Additional Secretary and Special Secretary in the Department
  of Expenditure in Finance Ministry.

• NTPC’s Director (Technical) A K Jha today took additional
  charge of Chairman & Managing Director of the company as an interim
  measure.
• After refusing to give extension to Arup Roy Choudhury as
  CMD of NTPC, the government has decided to give additional charge to Jha for
  three months from September 1 as an interim arrangement.
• A search committee headed by Power Secretary P K Pujari is
  currently looking for a full-time CMD for NTPC.
• The committee will send the list of short-listed candidates
  to the Appointments Committee of the Cabinet for a final call.
• Jha, 58, is a graduate in Mechanical Engineering from BIT
  Sindri, Ranchi University, and holds LLB from the Delhi University.
• He joined NTPC in 1977 as an Executive Trainee and was
  directly associated with its flagship project — Singrauli (5×200 MW).

• India today clinched their first Test series victory on Sri
  Lankan soil in 22 years with an emphatic 117-run win over the hosts in the
  third and final cricket Test despite a valiant century by rival skipper Angelo
  Mathews.
• After setting a daunting victory target of 386, India
  managed to dismiss the Sri Lankans for 268 on a wicket which slowed down
  considerably to wrap up the series 2-1, their first overseas series victory
  since June, 2011 against the West Indies.
• It was new captain Virat Kohli’s first series win ever since
  he took over reins of the team from Mahendra Singh Dhoni.
• The last time an Indian team won a series in Sri Lanka was
  way back in 1993 under Mohammed Azharuddin’s leadership when they sealed the
  series with 1-0 scoreline.
• The fifth day’s action was not devoid of drama as more
  on-field altercation took place with Kusal Perera being involved in a heated
  exchange with Indian players.
• Ashwin took the last wicket of Nuwan Pradep to bring about
  India’s moment of glory, triggering scenes of wild celebrations in the dressing
  room as the players hugged each other and picked up the stumps as mementos.

• India paceman Ishant Sharma and three Sri Lankan players
  have been charged for misconduct during the ongoing third test between the
  neighbours, the International Cricket Council (ICC) said on Tuesday.
• Sharma, who was fined 65 per cent of his match fees for
  giving send-offs to Lahiru Thirimanne and Dinesh Chandimal in the second test,
  landed in trouble with the Sri Lankans in the final contest as well.
• Thirimanne, Chandimal and paceman Dhammika Prasad, who had
  an animated altercation with Ishant on Monday, have also been charged with code
  of conduct breaches, the ICC said.

• The highest mountain of North America was on 28 August 2015
  renamed as Denali instead of its existing name Mt McKinley by US President
  Barack Obama. This designation will now recognize the sacred status of Denali
  to generations of Alaska Natives.
• The mountain, which sits in the 6 million-acre Denali
  national park, has been known as Denali in Alaska since 1975. Now officially,
  the Denali name will be used by all and it will also take effect for all
  federal usage and on all official maps.
• The change comes after a debate between lawmakers from
  Alaska and Ohio. In January 2015, Republican Senate Lisa Murkowski of Alaska
  introduced legislation that sought to officially call the mountain what
  Alaskans and indigenous people called it Denali or The High One.
• The historic change came during Obama’s three-day
  presidential trip to Alaska. It is the latest bid by the President to fulfill
  his 2008 campaign promise to improve relations between the federal government
  and the nation’s Native American tribes.

• An Indian-origin driver in Australia Tejinder Pal Singh was
  on 31 August 2015 named as Australian of the Day by Commonwealth Bank of
  Australia for feeding the homeless in Darwin for the past three years.
• He dedicated the last Sunday of every month to feed the poor
  and homeless in northern Darwin after his night shift as a cabbie. He cooked
  around 30 kg of Indian food to feed the homeless. The free lunch comprises
  chickpeas, rice and vegetarian curry.
• His van itself carries the sign Free Indian food for hungry
  and needy people, Provide Sikh family.
• The Commonwealth Bank has been sponsoring the Australian of
  the Day campaign for over 35 years. The campaign recognises the extraordinary
  Australians who have made a big difference to the country.

• The book 30 Women in Power: Their Voices, Their Stories was
  in news in August 2015. It was written and edited by Naina Lal Kidwai.
• It is a collection of narratives on modern Indian women who
  have been pioneers and led large organizations – in banking, law, the media,
  advertising, government services, health care, consulting, the fast-moving
  consumer goods sector and the not-for-profit space.
• She is an executive director on the board of HSBC
  Asia-Pacific and the chairman of HSBC India.
• She is also a non-executive director of Nestle SA and was
  the first woman president of the Federation of Indian Chambers of Commerce and
  Industry (FICCI).

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