Current Affairs Update – 3rd September, 2015

Hello and welcome to ExamPundit. Here are the Important Current Affairs of 3rd September, 2015 along with Daily 5 Expected Questions from Stock GK. These are Important for the upcoming IBPS PO V Mains Exam.

• Union Government on 28 August 2015 notified the merger of
  commodities market regulator Forward Markets Commission (FMC) with Securities
  and Exchange Board of India (SEBI). Its merging will be effective from 28
  September 2015.
• For this purpose, the government repealed the Forward
  Contracts Regulation Act (FCRA) 1952 and made a way to shift the Regulation of
  Commodity Derivatives Market to SEBI under Securities Contracts Regulation Act
  (SCRA) 1956.
• An official press release said, Finance Minister Arun
  Jaitley, in his Budget speech, had announced the merger of FMC with the capital
  market regulator SEBI to strengthen the regulation of commodity futures market.
• A unified regulator for commodities and capital markets will
  help streamline monitoring of commodity futures trading and curb wild
  speculations.

• The National Stock Exchange of India Ltd (NSE) has entered
  into a Memorandum of Understanding (MoU) with the Stock Exchange of Mauritius
  Ltd (SEM) for fostering a deeper and more strategic relationship between the
  two bourses.
• The MOU would also facilitate the development of channels
  for knowledge sharing and developing mutual synergies for the growth and
  development of SEM and NSE.
• The areas of co-operation under the MOU will encompass
  education, training and knowledge transfer in securities markets, product
  development and indices creation as well as capacity development in the field
  of surveillance and investigation.

• ICICI Lombard General Insurance has tied up with Catholic
  Syrian Bank(CSB) for sale of its products through 431 branches of the bank.
• Through the bancassurance tie-up, the company will able to
  offer general insurance solutions to the bank’s customer base in Kerala, Tamil
  Nadu, Karnataka and Maharashtra.
• The 94-year-old Kerala-based bank has a strong presence in
  the southern and western parts of the country. The bank had distribution
  network of 431 branches across 15 states and 4 union territories as on December
  31, 2014.
• ICICI Lombard would be able to offer its risk solutions to
  the bank’s customer base of 16 lakh clients (as on December 31, 2014). The
  bank’s focus is on the small and medium enterprises (SMEs) and retail client
  segments apart from NRI customers.

• PHDCCI on 2 September 2015 launched Intellectual Property
  Rights Facilitation Centre (IPFC) for Micro Small and Medium Enterprises
  (MSMEs) in Lucknow, Uttar Pradesh.
• The focus of the centre is to nurture innovative activities
  in the MSME located in Uttar Pradesh.
• PHD Chamber of Commerce and Industry (PHDCCI) is a New-Delhi
  based multi-state agency engaged in the promotion of industry, trade and
  entrepreneurship.

• Bazmi Husain was on 2 September 2015 appointed as Chief
  Technology Officer (CTO) of ABB India Ltd. Husain is a power and automation
  expert and has been with ABB for more than 30 years. Currently, he is working
  as Managing Director of ABB in India.
• As a CTO, he will report to ABB’s CEO Ulrich Spiesshofer and
  will begin work as CTO with effect from 1 January 2016. He will be based in
  Bangalore office of ABB India along with an office in Switzerland.
• He will be responsible for overseeing all aspects of ABB’s
  global Research and Development, which serves the entire company, its
  scientists and engineers.

• Pulled by falling energy prices and economic troubles in
  China, Canadian economy entered into the first technical recession in six
  years. This was revealed by Canada’s national statistical agency Statistics
  Canada on 1 September 2015.
• Technical recession means negative economic growth by a
  country’s gross domestic product (GDP) for two consecutive quarters.
• From this viewpoint, as revealed by Canada Statistics,
  Canadian economy retreated at an annual pace of 0.5 percent during Quarter 2
  (April-June 2015) which followed a decline of 0.8 percent in GDP growth during
  the Quarter 1 (January – March 2015).
• The last time the Canadian economy saw the technical
  recession was in 2009, when GDP was pulled back by 8.7 percent in the first
  quarter and 3.6 percent in the second.

• The United Nations Environment Programme (UNEP) on 31 August
  2015 unveiled a low-cost device to monitor air quality in the Kenyan capital
  Nairobi. It costs around 1500 US dollars per unit.
• It is a low-cost device in the sense that it is expected to
  cost up to 100 times less than existing solutions.

• It is capable of collecting all the vital parameters of air
  quality.
• It has built-in Global Positioning System (GPS) that enables
  it to connect to the UNEP Live platform that monitors air quality from 2000
  stations located across the world on real-time basis.
• It can measure the concentration of particulate matter
  ranging from 1 to 10 microns in diameter (PM 1 – PM 10), including PM 2.5,
  considered by the WHO to have the greatest effect on human health.
• It also records the concentration of sulphur and nitrogen
  oxides and can be extended to measure other gases such as ozone.

• NASA and the United States Agency for International
  Development (USAID) on 31 August 2015 launched SERVIR-Mekong, to serve the
  countries of the Mekong River Basin: Cambodia, Laos, Myanmar, Thailand and
  Vietnam.
• It is a joint project that is aimed at strengthening
  regional environmental monitoring in the above five countries in the lower
  Mekong region of Southeast Asia. The SERVIR-Mekong will aid climate resilience,
  food and water security.
• The SERVIR-Mekong hub is located at the Asian Disaster
  Preparedness Center in Bangkok, Thailand. It joins a growing global community
  of scientists and decision-makers using publicly available data from space
  assets to address critical regional issues. 

• Book titled Globalisation, Democratization and Distributive
  Justice was presented to Vice President Hamid Ansari on 2 September 2015. The
  book has been authored by Mool Chand Sharma, Professor of Law at Delhi
  University and presently the Member of 20th Law Commission of India.
• The book acknowledges talks about measures like Employment
  Guarantee Act, Right to Education Act and Food Security Act. It also says that
  some of the recent steps taken on economic and fiscal side like introduction of
  Goods and Services Tax, schemes related to financial inclusion and others along
  with initiatives like Make in India, Digital India, Skill India and Swachchh Bharat
  Abhiyan can prove catalyst in this regard.

• Actor Dean Jones, who starred in classic Disney family
  comedies like “That Darn Cat!” and “The Love Bug”, has
  died. He was 84.
• Jones died on September 1 of complications from Parkinson’s
  disease in LA, publicist Richard Hoffman announced, according to The Hollywood
  Reporter.
• Jones’ film grosses exceeded USD 960 million, Hoffman noted.
  The actor was inducted into the Disney Legends Hall of Fame in 1995.
• A leading man with a light comic touch, Jones also appeared
  in the Disney films “The Million Dollar Duck” (1971), “Snowball
  Express” (1972) and the sequel “Herbie Goes to Monte Carlo”
  (1977) — as well as in the CBS series that it spawned — and in another family
  classic, “Beethoven” (1992).
• Jones made his Disney debut as an FBI agent in “That
  Darn Cat!” (1965), about a wily Siamese who help bring bank robbers to
  justice.

• Amanda Peterson, best known for her role in the 1987 film
  Can’t Buy Me Love opposite Patrick Dempsey, died from an accidental overdose of
  a deadly combination of multiple drugs including morphine.
• The “morphine effect” reportedly caused
  respiratory failure, leading to her death, reported TMZ.
• The retired actress’ body was discovered in her Colorado
  apartment on July 5, two days after her death. She was 43.
• According to the Weld County Coroner in Colorado, Peterson
  had a variety of prescription drugs in her system, including anti-anxiety
  medication, anti-psychotic medication, opiates and marijuana.
• The ’80s star had a long history of substance abuse. She was
  allegedly arrested four times over the last 20 years in her hometown of
  Greeley, Colo. Most recently, she was booked in May 2012 on a DUI and drug
  paraphernalia charge.

Regards

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