Hello and welcome to exampundit . Here are the important Current Affairs of 4th October, 2016. These are important for the upcoming IBPS PO & Clerk Mains, BOM PO and Other Bank Exams.
Current Affairs at a Glance – 4th October, 2016
- The Reserve Bank of India today cut policy rate (repo rate) by 25 basis
points to 6.25% from 6.5% citing easing inflation. In its first
meeting, the Monetary Policy Committee (MPC) on Tuesday all members of policy
decided for 25 basis point rate cut. - State Bank of India (SBI) has signed
a memorandum of understanding (MoU) with IIT
Kharagpur for collaborative research and running proof of concepts.
SBI has a wider programme includes ideation, incubation, experimentation and
commercialization of new technology driven products and services for the
banking sector. - The Maharashtra government
signed a Memorandum of Understanding (MoU) with Korea Land & Housing Corporation (KLHC)
of the Republic of Korea. - Jharkhand on 1 October 2016 became India’s first state to implement Direct
Benefit Transfer (DBT) in Kerosene. The scheme is being implemented in four
identified districts of the State namely Chatra, Hazaribagh, Khunti and
Jamtara. - Gujarat and Andhra Pradesh on 2 October 2016 became the
first states to declare their urban areas as Open Defecation Free (ODF) on
the second anniversary of the Swachh Bharat Mission. - The Nobel Assembly at Karolinska Institutet on 3 October 2016
decided to award the 2016 Nobel Prize in Physiology or Medicine to Yoshinori
Ohsumi. - World Space Week is an annual event that is observed from 4 October
to 10 October 2016 in various parts of the world including Europe and Asia.
2016 World Space Week is being observed with theme Remote Sensing: Enabling our
Future. - MS Sahoo
on 1 October 2016 assumed charge
as Chairman of Insolvency and Bankruptcy Board of India (IBBI). - Kersti Kaljulaid on 3 October 2016 was elected as the President of Estonia by the parliament.
- Film-maker and elephant
researcher Prajna
Chowta was recently appointed Chevalier de l’Ordre National du
Mérite (Knight in the National Order of Merit) by the French Government. - Vinaya Manchaiah, an
Indian-American associate professor at Lamar University in Texas, in the first
week of October 2016 was named to the
2016 class of the Jerger Future Leaders of Audiology by the American Academy of
Audiology. - The 2016 Nobel Prize in Physics was on 4 October 2016 one half awarded to David J Thouless and the other half jointly to F
Duncan M Haldane and J Michael Kosterlitz for theoretical discoveries of
topological phase transitions and topological phases of matter.
Finance/Industry/Banking –
RBI cuts repo rate by 25 bps to 6.25%
- The Reserve Bank of India today
cut policy rate (repo rate) by 25 basis points to 6.25% from 6.5% citing easing
inflation. - In its first meeting, the
Monetary Policy Committee (MPC) on Tuesday all members of policy decided for 25
basis point rate cut. - This was the fourth bi-monthly
monetary policy of the RBI. It was first monetary policy statement after Urijit
Patel took over as governor on September 04, 2016. - On the basis of an assessment of
the current and evolving macroeconomic situation MPC decided to reduce the
policy repo rate under the liquidity adjustment facility (LAF) by 25 basis
points from 6.5% to 6.25% with immediate effect. - Consequently, the reverse repo
rate under the LAF stands adjusted to 5.75%, and the marginal standing facility
(MSF) rate and the Bank Rate to 6.75%. - RBI in a policy statement said
the decision of the MPC is consistent with an accommodative stance of monetary
policy in consonance with the objective of achieving consumer price index (CPI)
inflation at 5% by Q4 of 2016-17. The medium-term target is four% within a band
of +/- 2%, while supporting growth.
SBI signs MoU with IIT- Kharagpur for research and running proof of
concepts
concepts
- State Bank of India (SBI) has
signed a memorandum of understanding (MoU) with IIT Kharagpur for collaborative
research and running proof of concepts. SBI has a wider programme includes
ideation, incubation, experimentation and commercialization of new technology
driven products and services for the banking sector. - IIT Bombay has a similar MoU with
SBI and had signed in July. Both parties will identify FinTech start-ups that
have products or applications that cater to the financial sector. The bank will
provide a platform for testing and piloting such products and check for any
specific business linkages. Additionally, the lender said that it may invest in
the startups and IIT Bombay’s Society for Innovation and Entrepreneurship
(SINE) will help in initial screening for technical competency, product road
map and innovation subject. - In June, the bank also said that
it would set aside Rs 200 crore for a startup fund . At the time, SBI chairman Arundhati Bhattacharya said that
the bank would give assistance of Rs 3 crore to Indian registered companies to
develop innovations in the fintech space.
SBI joins a growing list of banks
which are offering assistance to fintech companies:
which are offering assistance to fintech companies:
– In June, foreign lender
Barclays opened a fintech innovation centre in Mumbai called Rise. This is
Barclays’ sixth Rise site globally, following the London, Manchester, New York,
Cape Town and Tel Aviv hubs.
Barclays opened a fintech innovation centre in Mumbai called Rise. This is
Barclays’ sixth Rise site globally, following the London, Manchester, New York,
Cape Town and Tel Aviv hubs.
– While HDFC Bank selected
products from five fintech companies to be deployed in the bank as part of its
Digital Innovation Summit.
products from five fintech companies to be deployed in the bank as part of its
Digital Innovation Summit.
– In April, ICICI Bank hosted an
‘Appathon’ where the bank gave access to more than 200 APIs from the ICICI
Group to developers to create products.
‘Appathon’ where the bank gave access to more than 200 APIs from the ICICI
Group to developers to create products.
Maharashtra govt inks pact with Korea Land & Housing Corporation
- The Maharashtra government signed
a Memorandum of Understanding (MoU) with Korea Land & Housing Corporation
(KLHC) of the Republic of Korea. - This MoU is to build a strategic
partnership for smart cities, roads and bridges, etc and exchange of knowledge
and expertise, state Chief Minister Devendra Fadnavis tweeted.
Jharkhand becomes first state to implement Direct Benefit Transfer in
Kerosene
Kerosene
- Jharkhand on 1 October 2016
became India’s first state to implement Direct Benefit Transfer (DBT) in
Kerosene. The scheme is being implemented in four identified districts of the
State namely Chatra, Hazaribagh, Khunti and Jamtara. - In a statement, Petroleum and
Natural Gas Ministry said that under the DBT Scheme, PDS kerosene is being sold
at non-subsidised price and the subsidy is being transferred to consumers
directly into their bank accounts. This initiative is aimed at rationalising
subsidy and plugging the leakages. - Aim: The scheme aims at
eliminating subsidised Kerosene from the supply chain for targeting the
beneficiaries and end pilferage and black-marketing. It also aims at cutting
down adulteration of cheap cooking and lighting fuel with diesel.
India –
Urban areas of Gujarat and Andhra Pradesh declared open defecation free
- Gujarat and Andhra Pradesh on 2
October 2016 became the first states to declare their urban areas as Open
Defecation Free (ODF) on the second anniversary of the Swachh Bharat Mission. - Other states that will soon
declare all their urban centres as ODF are Kerala, Himachal Pradesh,
Maharashtra, Mizoram and a few other Northeast states. - The mission launched by PM
Narendra Modi, with its urban and rural component handled by the respective
ministries, aims to make the country ODF by 2019.
Key highlights
- All 110 cities and towns in
Andhra Pradesh were given the ODF tag by Chief Minister N Chandrababu Naidu at
an event in Tirupati. - Gujarat gave ODF status to each
of its 180 cities and towns at a function in Porbandar attended by Union
Minister of Drinking Water and Sanitation Narendra Singh Tomar and Gujarat
Chief Minister Vijay Rupani. - Gujarat also declared the entire
district of Porbandar, the birthplace of Mahatma Gandhi, as ODF to commemorate
the 147th birth anniversary of Mahatma Gandhi on 2 October 2016.
Jawhar Sircar resigns as CEO of Prasar Bharati Corporation
- Jawhar Sircar on 3 October 2016
resigned as the Chief Executive Officer (CEO) of Prasar Bharati Corporation.
His resignation came four months ahead of the end of his tenure which was about
to end in February 2017. - As per rules of the Prasar
Bharati (Broadcasting Corporation of India) Act, 1990, chairman or any other
member may resign the office by giving notice thereof in writing to the
President of India and on such resignation being accepted, the chairman or
other member shall be deemed to have vacated his office.
Sponsored
(adsbygoogle = window.adsbygoogle || []).push({});
Appointments –
MS Sahoo assumes charge as Chairman of Insolvency and Bankruptcy Board
of India
of India
- MS Sahoo on 1 October 2016
assumed charge as Chairman of Insolvency and Bankruptcy Board of India (IBBI).
The oath of the office was administered by Union Finance and Corporate Affairs
Minister Arun Jaitley. - He will serve the office will
2021. - Sahoo was recently serving as a
member of anti-trust regulator Competition Commission of India (CCI) and was
earlier a member at capital markets regulator Securities and Exchange Board of
India (SEBI). - IBBI is a four-member Board. The
members of the IBBI are Ajay Tyagi, Amardeep Singh Bhatia, GS Yadav and
Unnikrishnan.
Kersti Kaljulaid elected as first female President of Estonia
- Kersti Kaljulaid on 3 October
2016 was elected as the President of Estonia by the parliament. - With this, Kaljulaid will become
Estonia’s first female president. - Kaljulaid won vote 81-0, with 20
members absent or abstaining. Her selection follows two failed votes and weeks
of heated debate.
Days/Observance –
World Space Week observed with theme Remote Sensing: Enabling our
Future
Future
- World Space Week is an annual
event that is observed from 4 October to 10 October 2016 in various parts of
the world including Europe and Asia. 2016 World Space Week is being observed
with theme Remote Sensing: Enabling our Future. - This year’s theme celebrates
Earth Observation from Space for the betterment of the human race. - By Resolution 54/68 of 6 December
1999, the United Nations General Assembly proclaimed World Space Week, to
celebrate the contributions of space science and technology to the betterment
of the human condition. - The dates recall the launch of
the first artificial satellite, Sputnik I, on 4 October 1957 and its entry into
force on 10 October 1967, of the Treaty on Principles Governing the Activities
of States in the Exploration and Use of Outer Space including the Moon and
Other Celestial Bodies.
Awards & Honors –
David Thouless, F Duncan M Haldane And Michael Kosterlitz won 2016
Nobel Prize In Physics
Nobel Prize In Physics
- The 2016 Nobel Prize in Physics
was on 4 October 2016 one half awarded to David J Thouless and the other half
jointly to F Duncan M Haldane and J Michael Kosterlitz for theoretical
discoveries of topological phase transitions and topological phases of matter. - David J Thouless is a Emeritus
Professor at the University of Washington, Seattle, USA. While, F. Duncan M.
Haldane is the Eugene Higgins Professor of Physics at Princeton University, USA
and J Michael Kosterlitz is the Harrison E. Farnsworth Professor of Physics at
Brown University, USA. - All three will jointly share the 8
million Swedish kronor prize.
Nobel Prize in Medicine 2016 awarded to Yoshinori Ohsumi
- The Nobel Assembly at Karolinska
Institutet on 3 October 2016 decided to award the 2016 Nobel Prize in
Physiology or Medicine to Yoshinori Ohsumi. - Ohsumi is bestowed with the prize
for his discoveries of mechanisms for autophagy. He discovered and elucidated
mechanisms underlying autophagy, a fundamental process for degrading and
recycling cellular components.
Wildlife film-maker Prajna Chowta conferred knighthood by France
- Film-maker and elephant
researcher Prajna Chowta was recently appointed Chevalier de l’Ordre National
du Mérite (Knight in the National Order of Merit) by the French Government. - The official ceremony is expected
to be held later in 2016 in Bengaluru. - The appointment of Chowta by the
President of the French Republic comes in recognition of a life devoted to
caring for wild Asian elephants.
Indian-American Vinaya Manchaiah named Future Leader of Audiology
- Vinaya Manchaiah, an
Indian-American associate professor at Lamar University in Texas, in the first
week of October 2016 was named to the 2016 class of the Jerger Future Leaders
of Audiology by the American Academy of Audiology. - Manchaiah is one of only a dozen
individuals selected nationwide for the honour.
Regards
Team ExamPundit