Current Affairs Update – 7-8 August, 2017


Hello and welcome to exampundit. Here are the Important Current Affairs of 7-8 August, 2017. These are very important for the upcoming IBPS PO, IBPS RRB, OICL AO, UIIC Assistant & NICL Assistant Exams.

Banking & Financial
Equitas Small Finance Bank launches Selfe Fastags for toll payments

  • Equitas Small Finance Bank has
    launched a new product to enable account holders to acquire a RFID (Radio
    Frequency Identification) tag online.
  • Any person, who intends to
    acquire a RFID tag for his vehicle, can just log onto the bank’s website and
    request for a tag by filling in some personal details and upload a copy of the
    vehicle’s registration documents. After verification by the bank, the tag will
    be delivered at the customer’s residence.
  • In collaboration with National
    Payments Corporation of India (NPCI), the newly-formed bank has also gone live
    with all the digital payments instruments offered by the banking system,
    starting from Unified Payments Interface, Bharat Bill Payments to
    Aadhaar-enabled Payments.
Amazon India, Telangana Handloom dept ink pact

  • Amazon India has signed a
    memorandum of understanding (MoU) with the Telangana Department of Handloom and
    Textiles, to educate, train and enable weavers and artisans to directly sell
    their products to Amazon customers across the country.
  • According to a statement issued
    by the e—commerce giant last night, with over 17,000 handlooms in the state,
    this association will further help elevate popular handloom products from
    clusters such as are Pochampally, Warangal, Gadwal, Narayanpet and Siddipet
    which have a tremendous potential and demand in urban areas.
  • Amazon India will not only
    provide an online marketplace for marketing but will also engage with weavers
    and artisans across the state to train them on making the products more
    attractive, appealing and marketable across the online domain.
  • The partnership also intends to
    empower and generate livelihood opportunities and income for the artisans and
    boost their economy, Amazon said.

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Kotak Bank launches debit card offer for zero balance a/c

  • Private sector Kotak Mahindra
    Bank today said it will offer debit card at a special price of Rs 99 for the
    first year for customers who will open account under its zero balance account
    scheme till September 15.
  • The usual annual fee for debit
    card procured by 811 account holders (zero balance) is Rs 299. The name 811,
    inspired by November 8, 2016, decision of demonetisation, allows customers to
    open a zero balance account using the banks mobile application.
  • To mark the 70th anniversary of
    countrys independence, the special edition debit card will be available to
    customers who open an 811 account from August 8, 2017 to September 15, 2017,
    the bank said in a statement.
J&K government to spend Rs 1 lakh Cr on education and road

  • The state government of Jammu and
    Kashmir has announced that it would be spending around Rs 1 lakh Cr on
    development works with special emphasis on education and road connectivity over
    the next five years.
  • The information was shared by the
    Public Works Minister, Naeem Akhtar on 7 August 2017 while addressing a public
    meeting in Ramban, one of the 22 districts of the state.
  • Akhtar said that the state is set
    to enter an era of unprecedented development as the government is spending Rs 1
    lakh Cr on roads, buildings and creation of other public assets in the next
    five years.
  • He also cleared that there is no
    scarcity of funds on part of the government. 
    In fact, he said that new projects are being taken up regularly whereas
    old ones are being completed with expedited urgency.
Dipak Misra is 45th Chief Justice of India, replaces J S Khehar on Aug

  • Dipak Misra, senior most judge of
    the Supreme Court, was today appointed as the next Chief Justice of India.
  • An official notification
    announcing 63-year-old Misra’s appointment was issued by the Law Ministry this
  • Misra will take over from
    incumbent J S Khehar, who will retire on August 27.
  • Justice Dipak Misra joined as an
    Advocate on February 14, 1977 and practiced in constitutional, civil, criminal,
    revenue, service and sales tax matters in the Orissa High Court and the Service
    Tribunal. He was selected as an Additional Judge of the Orissa High Court on
    January 17, 1996 and transferred to the Madhya Pradesh High Court on March 3,
  • He became permanent Judge on
    December 19, 1997. Justice Misra took charge of the office of Chief Justice,
    Patna High Court on December 23, 2009 and charge of the office of the Chief
    Justice of Delhi High Court on May 24, 2010.

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National Handloom Day observed across India to promote welfare of

  • The 3rd National Handloom Day was
    observed across India on 7 August 2017, in order to promote indigenous
    creations and honour the handloom weavers of the country.
  • The day mainly aims to highlight
    the contribution of handloom to the socioeconomic development of the country
    and promote handlooms to increase the income of weavers and also to bring their
    undying skill and hard work out in the limelight.
  • The Union Textiles Minister,
    Smriti Irani addressed a gathering at Ahmedabad to mark the occasion. Various
    programmes were held in universities, schools and other institutions as well.
  • The main function to celebrate
    the day this year was held at Guwahati and it was presided over by Union
    Minister of State, Textiles, Ajay Tamta. Speaking on the occasion, the Minister
    said that the Government of India was taking various initiatives for the
    welfare of handloom weavers. He continued saying that he personally not only
    appreciates but also salutes the handloom weavers for their commitment, dedication
    and skill.
Some initiatives taken by Government for welfare of weavers:

  • Hathkargha Samvardhan Sahayata
    Scheme: Under the scheme, the union government assists the weaver by bearing
    90% of the cost of new looms.
  • MUDRA scheme: Under the scheme,
    the weavers can avail loans ranging from Rs 50,000 to Rs 10 lakh with no
    requirement for any security.
  • Besides this, the Ministry of
    Textiles has signed MoUs with Indira Gandhi National Open University (IGNOU)
    and National Institute of Open Schooling (NIOS) by which children of weavers
    shall be able to avail school and university education, with 75% of fees being
    borne by the Government of India.
News related to India & states
Union Government Centre declares entire Assam as ‘disturbed’ area under
AFSPA for a month

  • The Union Government on 7 August
    2017 declared entire Assam state as a disturbed area under the Armed Forces
    (Special Powers) Act (AFSPA) for one month. AFSPA was declared in the state
    after violent activities by insurgent groups ULFA, NDFB, and others.
  • In addition, the Home Ministry
    has also declared Meghalaya’s border areas adjoining Assam (20 km belt in
    Meghalaya) as disturbed under the AFSPA for two more months with effect from 3
    August 2017 to 30 September 2017.
  • Besides, three districts
    Arunachal Pradesh, namely Tirap, Changlang and Longding, and areas falling
    within the jurisdiction of 14 police stations in nine other districts of the
    state were also as disturbed under the AFSPA for two more months with effect
    from 4 August 2017.
  • The 14 police stations fall under
    the districts of Papumpare, East Siang, West Siang, East Kameng, West Kameng,
    Lower Dibang Valley, Namsai, Lohit district, Lower Subansiri in Arunachal
  • Reports suggest that in 2016
    there were 75 incidents of violence in Assam in which 33 people were killed and
    14 others were abducted. This violence was perpetrated in Assam by insurgent
Coconut regains tree status in Goa as Assembly passes bill

  • Goa Legislative Assembly on 7
    August 2017 passed Goa, Daman and Diu, Preservation of Trees Act, 1984. The
    bill seeks to reclassify coconut as a tree and ensure legal protection to it.
  • The bill was passed to regulate
    felling of coconut trees and reclassify it as a tree on the last day of the Monsoon
    session of the state.
  • Goa Forward Party, a partner in
    the Manohar Parrikar-led government, had promised to reclassify coconut as a
    tree. The previous Laxmikant Parsekar-led government had changed the
    classification of the coconut tree to a palm.
  • The bill was needed as the
    previous BJP-led coalition government in Goa was accused of amending the Goa
    Daman and Diu Preservation of Trees act 1984 in 2016 and dropping the tree
    status accorded to the coconut tree. They accused that the action was taken to hasten
    real estate and industrial development at the cost of environment.
  • Green activists claimed that it
    would make it easy to cut down coconut trees indiscriminately in the coastal
    state as it would require no formal permission.


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