Hello and welcome to exampundit . Here are the important Current Affairs from 27th of October to 31st of October, 2016. These are important for the upcoming IBPS PO Mains, IBPS Clerk Mains as well as Insurance & Banking Exams.
Current Affairs at a Glance – 28th to 31st October, 2016
- Central Vigilance
Commission has now made it mandatory
for the public sector banks to report to it all such matters involving funds over Rs one crore. - The RBI’s All-India HPI recorded annual
increase of 7.3 per cent in the first quarter of 2016-17 after moderation over four consecutive quarters
from 17.5 per cent in the fourth quarter of 2014-15 to 3.3 per cent in Q4 of
2015-16. - India and Palestine signed the Memorandum
of Understanding (MOU) for setting up of Palestine-India Techo Park in Ramallah
on 31 October, 2016. - The finance ministry on Monday
released first instalment of special assistance of Rs 1,093.34 crore for repair and
permanent restoration of damaged public buildings in Jammu and Kashmir in pursuance of the announcement made by the
Prime Minister last November. - South Indian Bank on Monday said Salim Gangadharan will be its new non-executive/ part-time Chairman
for three years with effect from November 2, 2016. - Former finance secretary and
Competition Commission of India chairman Ashok Chawla has taken charge as Non-Executive Chairman
of YES Bank from today. - Sunil Bharti Mittal, Founder and Chairman of
Bharti Enterprises, was on 27 October 2016 appointed
as Chairman of GSMA. - Andhra Pradesh and Telengana have jointly
topped the 2016 all-India State/Union Territory-wise Ease of Doing Business
rankings, while last-year’s topper Gujarat slipped to the third spot. - Team India’s limited-overs
cricket skipper Mahendra
Singh Dhoni remains the most valued Indian athlete in 2016, despite
a drop in his brand value when compared with last year, shows the Forbes Fab 40
list released recently. - With 100 days to go for the ICC Women’s
World Cup Qualifier 2017, Colombo was today unveiled as the host of the
10-team event, which will be staged from February 7 to 21 next year. - India’s hockey team gifted the
country on Diwali its second Asian Champions Trophy hockey tournament title
after defeating arch foes Pakistan 3-2 in the final at the Wisma Belia
Hockey Stadium here on Sunday. - The Goa cabinet has approved the signing of a Memorandum of Understanding
(MoU) between the government of Goa and the
government of Jharkhand for the
implementation of ‘Ek Bharat – Shreshtha Bharat’,
an initiative that will permit a cultural exchange and other exchange programs
between Goa and Jharkhand. - Diwali was commemorated for the first time
at the United Nations, with the world body’s imposing headquarters
here lit up especially on the occasion of the Indian festival of lights. - Russia, facing allegations of
war crimes in relation to its policies in Syria, lost its seat on the UN Human Rights Council as the UN General
Assembly voted to elect 14 members to the Geneva-based organ. - Indian National Award winning
documentary ‘Daughters
of Mother India’ won the first prize in the Documentary Film
category at the sixth CAM International Film Festival in Cairo, Egypt. - World Cities Day was observed on 31 October 2016 with theme Inclusive Cities, Shared
Development
Finance/Banking –
Banks to report frauds of Rs one crore and above to CVC
- With several high-ticket alleged
frauds like Vijay Mallya loan default case coming to fore, Central Vigilance
Commission has now made it mandatory for the public sector banks to report to
it all such matters involving funds over Rs one crore. - Based on the reports, the
anti-corruption watchdog, which has hired four General Manager ranked officers
from bank as advisors, will recommend whether or not a CBI probe can be ordered. - According to CBI data, in 2015,
the agency had probed 171 cases of bank frauds involving funds of Rs 20,646
crore. In addition, CBI is also investigating the Ponzi schemes involving funds
of over Rs 1.20 lakh crore. - The Commission will also call
regular monthly meetings of senior officials of Reserve Bank of India (RBI),
CBI and banks to monitor probe in suspected bank frauds of Rs 50 crore and
above. - The banks have been asked to
share their reports of Fraud Monitoring and Reporting (FMR) mechanism with the
CVC in the suspected fraud cases of Rs one crore and above. - Till now this report was shared
with the RBI only, Vigilance Commissioner T M Bhasin said. - The banks will also now have to
report the modus operandi of all the alleged frauds to the CVC which will share
these details with other banks to ensure that systemic changes can be brought
in to prevent such cases being repeated, he said.
RBI’s home price index rises 7.3 per cent in first quarter
- Reserve Bank of India (RBI) is
any indication, home prices have gone up during the first quarter ended June
2016 when compared to the same period of last year. Analysts and bankers are
attributing the rise to the fall in interest rates and the retail push by
lenders. - The RBI’s all-India home price
index (base 2010-11=100) has sequentially increased by 5.5 per cent to 231.1 in
Q1 of 2016-17 from 219.1 in Q4 of 2015-16. All major cities in the country
witnessed an increase in HPI in the first quarter of 2016-17. - The All-India HPI recorded annual
increase of 7.3 per cent in the first quarter of 2016-17 after moderation over
four consecutive quarters from 17.5 per cent in the fourth quarter of 2014-15
to 3.3 per cent in Q4 of 2015-16. - According to the RBI, on an
annual basis, Chennai witnessed the maximum increase of 23.9 in the first
quarter whereas Jaipur witnessed maximum contraction (-4.4 per cent). On a
sequential basis (first quarter of 2016-17 over fourth quarter of 2015-16),
Kochi recorded highest home price index increase of 17.6 per cent whereas
Jaipur recorded the lowest increase of 0.6 per cent. - According to the RBI data,
housing loans have shot up to Rs 786,900 crore as of August 2016 as against Rs
674,500 crore in August 2015, a rise of 16.7 per cent. Public sector banks have
started focussing on home loans in a big way as the sector has witnessed very
low level of non-performing assets.
MOU signed between India and Palestine for setting up of
Palestine-India Techno Park in Ramallah
Palestine-India Techno Park in Ramallah
- India and Palestine signed the
Memorandum of Understanding (MOU) for setting up of Palestine-India Techo Park
in Ramallah on 31 October, 2016. - During the visit of Hon’ble
President of India to Palestine in October, 2015, the announcement for setting
up of park was made. Government of India has announced grant of US$ 12 million
for setting up the Park with payment of US$ 3 million each on half-yearly basis
for 2 years. - Palestinian side has made the
land available for the project. Once completed, the Technopark will serve as an
IT hub in Palestine with complete IT facilties offering a one-stop solution to
all IT-related service requirements, providing state-of-the-art technology,
hosting IT companies and foreign companies benefitting local business,Universities
and other institutions. - The assistance is part of
Government of India’s strong commitment to support Palestinian cause. The
project will help job creation, business and other opportunities for young
Palestinians.
Finance Ministry releases Rs 1,093 cr for restoration of infra in Jammu
and Kashmir
and Kashmir
- The finance ministry on Monday
released first instalment of special assistance of Rs 1,093.34 crore for repair
and permanent restoration of damaged public buildings in Jammu and Kashmir in
pursuance of the announcement made by the Prime Minister last November. - A total sum of Rs 2,000 crore has
been provided for permanent restoration of damaged Infrastructure such as
schools, colleges, hospitals, bus stations and other critical public
infrastructure under Prime Minister Reconstruction Plan for J&K, the finance
ministry said in a statement. - The central government gave its
approval on October 27 to one-time relaxation of Mission for Integrated
Development of Horticulture (MIDH) cost norms for restoration of damaged
horticulture areas and development of horticulture in the state. - A total sum of Rs 500 crore has
been provided under this head as part of PM Reconstruction Plan for J&K.
Union Cabinet approves New Productivity Linked Reward Scheme for port
and dock workers
and dock workers
- The Union Cabinet on 27 October
2016 approved the New Productivity Linked Reward (PLR) Scheme for all Major
Port Trusts and Dock Labour Board employees and workers for the years 2015-16
to 2017-18. - This PLR scheme will benefit
about 38 thousand Port and Dock workers in all the Major Port Trusts and the
yearly outgo will be over 49 crore rupees.
Key Highlights
- The PLR will be calculated on the
enhanced wage ceiling for calculation of Bonus at seven thousand rupees per
month. - PLR shall be paid annually on the
basis of 50 per cent weightage given to all India Performance and 50 per cent
weightage given to the individual Port Performance. - The arrear payments of PLR for
the year 2014-15 to the employees will be calculated on the enhanced wage
ceiling of seven thousand rupees per month for calculation of Bonus instead of
3500 rupees per month on the existing methodology of combined All India Port
Performance. - The new PLR Scheme will foster
better industrial relationship and congenial work atmosphere in the Port
Sector, apart from stimulating better productivity.
Union Cabinet gives in-principle approval for strategic sale of over
dozen PSUs
dozen PSUs
- Union Cabinet on 27 October 2016
gave its in-principle approval to NITI Aayog’s proposal for strategic sale of
over a dozen public sector undertakings (PSUs). - Finance Minister Arun Jaitley
said the names of PSUs that are up for strategic stake sale would be made
public once they are going to be put up for the auction. This list does not
include PSUs for closure. - The recommendations of the NITI
Aayog on disinvestment and strategic sale came up for consideration and the Cabinet
in principle approved the recommendations with regard to some of the units. - Highlights of the Decision
- Each case would be considered
separately after it has been examined by the Department of Disinvestment and
the Ministries concerned. - The strategic sale will involve a
management control transfer as the shareholding of the government would come
down to below 50 per cent.
Union Cabinet approves Cadre Review of Indian Posts &
Telecommunications Accounts and Finance Service
Telecommunications Accounts and Finance Service
- The Union Cabinet on 27 October
2016 approved the first Cadre Review of Indian Posts & Telecommunications
Accounts and Finance Service (IP&TAFS).
The key features of the Cadre
Review of IP&TAFS:
Review of IP&TAFS:
- Reduction of the total strength
of the cadre from 420 to 376. - Creation of one Apex level post
of Controller General of Communication Accounts (CGCA). - Creation of one additional HAG+
level post taking the grade strength to 2. - Creation of two additional HAG
level posts taking the grade strength from 6 to 8. - Creation of 18 additional SAG
level posts taking the grade strength from 37 to 55. - Reduction in JAG level posts from
111 to 90. - Reduction in STS level posts from
198 to 86. - Creation of 21 JTS level posts
taking the grade strength from 67 to 88. - Creation of 46 Posts to be
operated as Reserves.
Union Cabinet approves agreement on Trade, Commerce and Transit between
India and Bhutan
India and Bhutan
- The Union Cabinet, chaired by the
Prime Minister Narendra Modi, on 27 October 2016 approved the agreement on Trade,
Commerce and Transit between India and Bhutan. - The agreement was renewed on 29
July 2006 for a period of ten years. The validity of this agreement was later
extended with effect from 29 July 2016, for a period of one year or till the
new agreement comes into force through exchange of Diplomatic notes. - The agreement provides for a free
trade regime between two countries. It also provides for duty free transit of
Bhutanese merchandise for trade with third countries.
Union Cabinet approves establishment of National Academic Depository
- The Union Cabinet on 27 October
2016 gave its green signal for establishment and operationalisation of a
National Academic Depository (NAD). - The National Academic Depository
aims at bringing another dimension and enhancement of the vision of Digital
India. - The Budget Speech of 2016-17 of
the Finance Benefit, Arun Jaitley, incorporated the commitment to establish a
Digital Depository for school learning certificates, degrees and other academic
awards of Higher Education Institutions, on the pattern of a Securities
Depository. - The NAD will be established and
operationalised within the next three months. - It will be rolled out throughout
the country in 2017-2018. - It will be operationalised by
NSDL Database Management Limited (NDML) and CDSL Ventures, Limited (CVL) – two
of the wholly owned subsidiaries of the Depositories registered under
Securities Exchange Board of India (SEBI) Act, 1992.
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Appointed –
Salim Gangadharan named non-executive Chairman of South Indian Bank
- South Indian Bank on Monday said
Salim Gangadharan will be its new non-executive/ part-time Chairman for three
years with effect from November 2, 2016. - Gangadharan is currently an
Independent Director on the board of the private sector bank headquartered in
Thrissur (Kerala). - In a stock exchange notice, the
bank said Amitabha Guha would demit the office of non-executive/ part-time
Chairman on November 1, 2016, on completion of his tenure.
Ashok Chawla takes over as non-executive Chairman of YES Bank
- Former finance secretary and
Competition Commission of India chairman Ashok Chawla has taken charge as
Non-Executive Chairman of YES Bank from today. - Chawla took over after
non-executive part-time Chairperson Radha Singh completed her tenure as the
bank’s director yesterday, YES Bank informed the stock exchanges. - A former IAS officer, Singh was
non—independent director on the bank’s board since April 2008 and was appointed
chairperson in 2014. - In March this year, Chawla was
appointed additional non executive director on the bank’s board. He was to be
appointed as non executive chairman of the bank after the end of Singh’s term,
the bank had then informed the bourses.
Sunil Bharti Mittal appointed as Chairman of GSMA
- Sunil Bharti Mittal, Founder and
Chairman of Bharti Enterprises, was on 27 October 2016 appointed as Chairman of
GSMA. As GSMA Chairman, Mittal will oversee the strategic direction of the
organisation. - Mittal will succeed Jon Fredrik
Baksaas, who will step down from the GSMA board at the end of 2016. - On the other hand, the company
re-elected Mari-Noëlle Jego-Laveissiere, Executive Vice President, Innovation,
Orange Group as Deputy Chairman. It also elected the new members of the
26-member Board of the company.
Reports/Indexes –
Andhra Pradesh, Telangana top in ease of doing business
- Andhra Pradesh and Telengana have
jointly topped the 2016 all-India State/Union Territory-wise Ease of Doing
Business rankings, while last-year’s topper Gujarat slipped to the third spot. - The rankings, announced on Monday
by Commerce and Industry Minister Nirmala Sitharaman, are on the basis of a
340-point business reform action plan and their implementation by the States.
This covers the period from July 1, 2015 to June 30, 2016. - Meanwhile, the World Bank said
what was interesting this year was that four of the seven states with the
lowest income levels in India have found a place in the top ten ranks, while
all the seven such states had an implementation rate of over 75 per cent. - These low-income states included
Chhattisgarh (97.32 per cent implementation rate regarding the 340 reform
measures, and fourth rank), Madhya Pradesh (97.01 per cent and fifth),
Jharkhand (96.57 per cent and seventh), Rajasthan (96.43 per cent and eighth),
Odisha (92.73 and 11th), Uttar Pradesh (84.52 per cent and 14th), Bihar (75.82
per cent and 16th rank). - The Bank, along with the Centre’s
Department of Industrial Policy & Promotion (DIPP) was involved in the
process of reviewing the evidence submitted by states/UTs regarding
implementation of reforms for the rankings. - The World Bank said it was
looking into India’s suggestion that the World Bank Group’s global Doing
Business rankings need to consider reforms undertaken across the country and
not just in Mumbai and Delhi as is being done currently. - India’s rank in the recently
released global Doing Business rankings was a lowly 130th, just one rank up
from the previous year’s ‘revised’ ranking of 131st. Prime Minister Modi is
keen to ensure that India finds a place in the top 50 countries within a year
or two.
Dhoni most valued athlete among Indians, Federer globally: Forbes Fab
40
40
- Team India’s limited-overs
cricket skipper Mahendra Singh Dhoni remains the most valued Indian athlete in
2016, despite a drop in his brand value when compared with last year, shows the
Forbes Fab 40 list released recently. - The annual Forbes Fab 40 list,
which estimates the brand value of top sports labels, athletes, teams and
events, reveals that Dhoni’s brand value reduced from $21 million in 2015 to
$11 million this year, and his rank slipped from fifth to 10th during the same
period. However, he remains the only Indian among the top 10 athletes globally. - Swiss tennis legend Roger Federer
toppled golf great Tiger Woods as the most valued athlete globally. With a
brand value of $36 million, Federer gained two notches from third last year,
while Woods dropped four spots to stand fifth on the latest edition of the
list. Among other top athletes on the list is Argentine football star Lionel
Messi, ranked eighth. He was not among the top 10 last year. - In the sports business category,
Nike, ESPN and Adidas continued to hold the top three spots, even as the
individual brand values of Nike and Adidas — $27 billion and $7 billion,
respectively — improved from last year, and ESPN’s declined marginally from
$17 billion to $16.5 billion.
Sports –
Colombo to host ICC Women’s World Cup Qualifier 2017
- With 100 days to go for the ICC
Women’s World Cup Qualifier 2017, Colombo was today unveiled as the host of the
10-team event, which will be staged from February 7 to 21 next year. - The tournament will see the
bottom four sides from the ICC Women’s Championship along with Bangladesh,
Ireland, Papua New Guinea, Thailand, Scotland and Zimbabwe go head to head for
the four remaining spots in the ICC Women’s World Cup in the United Kingdom
from 26 June to 23 July. - While hosts Sri Lanka are certain
to feature in the qualifier, the remaining three sides will be confirmed
following the final round of matches to be played in November. - World champion Australia have
already won the ICC Women’s Championship and with it became the first side to
book a ticket for next year’s World Cup, while England, West Indies, New
Zealand, South Africa, India and Pakistan are fighting for the remaining three
automatic spots in the pinnacle women’s 50-over event. - The 10 sides in Colombo will be
divided into two groups of five with the top three from each progressing to the
Super Six stage, thus securing One-Day International (ODI) status until the
next ICC Women’s World Cup Qualifier.
India beat Pakistan to lift their second Asian Champions Trophy
- India’s hockey team gifted the
country on Diwali its second Asian Champions Trophy hockey tournament title
after defeating arch foes Pakistan 3-2 in the final at the Wisma Belia Hockey
Stadium here on Sunday. - India’s two second-half goals
from Rupinder Pal Singh (18th minute) and Affan Yousuf (23rd) were cancelled
out by Aleem Bilal (26th) and Ali Shan (38th) but Nikkin Thimmaiah (51st)
scored the winner for the reigning Asian Games champions. - In the third-place match, hosts
Malaysia got their fourth bronze medal as they edged out South Korea via
penalty shootout.
India –
Goa, Jarkhand sign cultural MoU
- The Goa cabinet has approved the
signing of a Memorandum of Understanding (MoU) between the government of Goa
and the government of Jharkhand for the implementation of ‘Ek Bharat –
Shreshtha Bharat’, an initiative that will permit a cultural exchange and other
exchange programs between Goa and Jharkhand. - The signing of the MoU is
expected to promote and spread traditional cultural forms and practices as well
as artistic manifestations including folklore, indigenous crafts and allied
cultural expressions of both the states, including helping in the promotion of
tourism. - One of the highlights of the
cultural exchange will be an ‘Ekta Carnival’ in each state where people from
other states will participate and understand its culture.
Union Cabinet approves agreement between India and Estonia on the
transfer of sentenced persons
transfer of sentenced persons
- The Union Cabinet on 27 October
2016 approved the signing and ratification of agreement between India and
Estonia on the transfer of sentenced persons. - The Agreement will facilitate the
Indian prisoners imprisoned in Estonia or vice-versa to be near to their
families, for serving remaining part of their sentence and shall facilitate
their social rehabilitation.
World –
UN lights up for Diwali for the 1st time
- Diwali was commemorated for the
first time at the United Nations, with the world body’s imposing headquarters
here lit up especially on the occasion of the Indian festival of lights. - The facade of the UN headquarters
was lit in bright hues and the words ‘Happy Diwali’, along with the image of a
traditional ‘diya’, projected onto the building. - It is for the first time that the
Indian festival of lights is celebrated at the world body after the UN General
Assembly adopted a resolution in December, 2014 that acknowledged the
“significance of Diwali”. - Noting that the festival is
observed in many UN member states, the resolution had called on UN bodies to
avoid holding meetings on Diwali, declaring it a no-meeting day. - From 2016 onwards, Diwali was
made an optional holiday for the UN, India’s Permanent Mission to the world
body said in a special video message.
Russia voted out of UN Human Rights Council
- Russia, facing allegations of war
crimes in relation to its policies in Syria, lost its seat on the UN Human
Rights Council as the UN General Assembly voted to elect 14 members to the
Geneva-based organ. - The 193-member General Assembly
on Friday elected 14 nations by secret ballot to serve on the Human Rights
Council, the United Nations body responsible for the promotion and protection
of all human rights around the globe. - Brazil, China, Croatia, Cuba,
Egypt, Hungary, Iraq, Japan, Rwanda, Saudi Arabia, South Africa, Tunisia,
United Kingdom and the United States were elected for three-year terms
beginning January 1,2017. India is a member of the 47-member human rights body
and its term will expire in 2017. - Russia was seeking re-election to
the human rights body, competing with Hungary, Croatia and Bulgaria for two
seats in the Eastern European bloc. Russia was edged out in a close vote,
getting 112 votes, just two shy of the 114 that Croatia polled, Hungary got 144
votes.
US, UK, and China re-elected to UN Human Rights Council
- The United Nation (UN) General
Assembly elected China, the United States, the United Kingdom among other
countries to the UN Human Rights Council for a three-year term of office
starting from January 1, 2017. - The other elected members are
Tunisia, South Africa, Rwanda, Japan, Iraq, Saudi Arabia, Hungary, Croatia,
Cuba, Brazil, Xinhua news agency reported. - The Human Rights Council is the
main UN intergovernmental body responsible for promoting and protecting all
human rights and fundamental freedom. - It was established by the General
Assembly in 2006 to replace the 60-year-old UN Commission on Human Rights. - The UN council addresses human
rights violations and makes corresponding recommendations. It responds to human
rights emergencies, works to prevent abuses.
World’s largest Marine Protected Area declared in Antarctica
- The Ross Sea, a deep bay of the
Southern Ocean in Antarctica, was declared as world’s largest Marine Protected
Area (MPA) on 28 October 2016. With this, there will be a blanket ban on
commercial fishing across about three quarters of that area for 35 years. - It will be the world’s largest
marine protected area and covers 1.6 million square kilometers. - The deal was clinched after the
meeting of Commission for the Conservation of Antarctic Marine Living Resources
(CCAMLR) consisting of 24 countries and European Union in Hobart, Australia.
All the participant nations including the European Union unanimously agreed to
create the world’s largest Marine Protected Area (MPA) in the ocean next to
Antarctica. - The agreement comes after years
of negotiations brokered by the UN’s Commission for the Conservation of
Antarctic Marine Living Resources. It also saw high-level talks between the US
and Russia, which was rejected in the past. Environmentalists have welcomed the
move to protect the Earth’s most pristine marine ecosystem.
Awards & Honors –
Daughters of Mother India wins at CAM International Film Festival
- Indian National Award winning
documentary ‘Daughters of Mother India’ won the first prize in the Documentary
Film category at the sixth CAM International Film Festival in Cairo, Egypt. - The CAM International Film
Festival was organised by Arabic Egyptian Society for Culture, Media and Arts
(CMA). The fest was held from 8 October to 13 October 2016. - The fest is organised annually to
promote cinema as a means of combating ignorance, poverty and terrorism. The
2016 edition featured around 92 films from 33 countries in three categories:
Short Fiction, Documentary and Animation. - India was the Guest of Honour in
the film gala with 12 entries.
Nadia Murad and Lamiya Aji Bashar wins 2016 Sakharov Prize
- Two Yazidi women, Nadia Murad
Basee and Lamiya Aji Bashar, who escaped sexual enslavement by Islamic State of
Iraq and Syria (ISIS) in Iraq, have won Europe’s top human rights award, the
Sakharov prize. - The announcement of the year’s
joint laureates was made following a decision by European Parliament on 27
October 2016. - The Sakharov award ceremony will
be held in Strasbourg on 14 December.
Days –
World Cities Day observed with theme Inclusive Cities, Shared
Development
Development
- World Cities Day was observed on
31 October 2016 with theme Inclusive Cities, Shared Development. The year’s
theme highlights the important role of urbanization as a source of global
development and social inclusion. - Recognizing the significance of
urban basic services as a foundation for the overall social and economic
development, the UN General Assembly by resolution 68/239 designated 31 October
as World Cities Day.
Regards
Team ExamPundit
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