Current Affairs Update 6 May 2017

DAILY CURRENT AFFAIRS UPDATE

FOR UPCOMING COMPETITIVE EXAMS

Dear Readers,

This current affairs update comprise of all necessary topics related to national news,financial updates,international news,sports news etc that are asked in competitive exams,regularly study this and get prepared for the current affairs section.

NATIONAL:

• India has launched 'South Asia Satellite'or 'GSAT-9'.The launching of this satelite was carried out by Geosynchronous Satelite Launch Vehicle 'GSLV-F09'.Some of Indian immediate neighbors and extended neighbors has agreed to take part in this project.They are nepal,Bhutan,Afghanistan,Maldives,Bangladesh and Sri Lanka .The life span of this project is about 12 years.The satlite is meant for providing communication support,disaster warning and connectivity among the countries of South Asian region.each participating country will have access to one transponder at the least in which they can telecast their own programming.

• The Union Cabinet chaired by Prime Minister Narendra Modi has approved The national steel Policy(NSP)2017.The main aim of this policy is to enhance domestic steel consumption and ensure high quality steel production. and to produce globally competitive and technologically advanced steel industry.the national steel policy 2017 has aimed to produce 300 million Tonnes of steel making capacity by 2030.

• The Union cabinet on Economic affairs has given its nod for restructuring the schemes of the Ministry of food processing industries (MoFPI)under new Central sector scheme 'SAMPADA'(Scheme for Agro-Marine processing and Developmnt of Agro Processing Clusters )  

• The State Government of Madhya Pradesh has passed a resolution to declare the narmada river a living entity and committed itself to the protection of its legal rights.

INTERNATIONAL:

• The home grown narrow passenger plane of China 'C-919'took to the skies from Bejing's Pudong airport,announcing some elbow room in aviation market. 

FINANCIAL NEWS:

• The Insolvency and Bankruptcy Board of India(IBBI)has constituted a technical committee to lay down Technical standards for the performance of core services and other services in accordance with Regulation 14 of the IBBI(Information Utilities)Regulations,2017.this committee will be headed by Dr. R.B. Barman and the other three members of the committee is Dr.Nand Lal Sarda,Dr. Pulak Ghosh and Sh. V.G.Kannan.This committee will give its recommndation specifically on the matters namely The Application programming Interface,registration of Users,standard Terms of service,Unique identification for each record and each users.

• The Reliance Corporate IT Park Limited has signed a Memorandum of Understanding(MoU)with SAP SE to launch 'SARAL GST'solution for taxpayers.This new offering will enable tax payers to be GST Compliant an smoothly run the Government's GST system,once GST is rolled out from july 1,2017.

APPOINTMENTS:

• In a reshuffle of top posts in public sector banks The Centre has decided to post chief executives of larger banks to smaller banks.Mr. Sunil Mehta,has been appointed as the Executive Director of corporation bank as MD and CEO of punjab national bank.Mrs. Usha Ananthasubramanian has been appointed as the chairman of Kolkata based Allahabad bank  

SPORTS: 

• India slumped to heart breaking 1-0 defeat to host Malaysia in its final league match of the sultan Azlan Shah Cup.