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.

Forward Markets
Commission to be merged with SEBI with effect from 28 Sept 2015

  • 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  • For this purpose, the government repealed the Forward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

NSE enters into MoU
with Stock Exchange of Mauritius

  • 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 in
bancassurance tie-up with CSB

  • 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 launched
Intellectual Property Rights Facilitation Centre for MSMEs in Lucknow
  • 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

Bazmi Husain
appointed as Chief Technology Officer of ABB India Ltd

  • 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.

Canada entered first
technical recession in six years
  • 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.

Low-cost device to
monitor air quality unveiled by UNEP in Nairobi
  • 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.

Key features of
the monitoring device
  • It is capable of collecting all the vital parameters of air
  • 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.

launched SERVIR-Mekong to monitor environment in Southeast Asia

  • 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
  • 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. 

& Authors –
Book titled
Globalisation, Democratization and Distributive Justice presented to Hamid
  • 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.

Disney Star Dean
Jones Dies at 84
  • 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
  • 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

Hollywood Actress
Amanda Peterson Dead
  • 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.

Expected Questions on Stock GK:
1. Indirasagar Dam is
located in which state?
– Madhya Pradesh
2. Birsa Munda
Athletics Stadium is located in which city/state?
– Ranchi, Jharkhand
3. Satkosia Tiger
Reserve is located in which Indian state?
– Odisha
4. Brihadeeswarar
Temple is located in which state?
– Tamil Nadu
5. Lev is the
currency of which country?
– Bulgaria


Team ExamPundit


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