Current Affairs Updates - 4th November 2017

New Appointments: National

Shri Rajesh Vaishnaw presently Joint Secretary in the Ministry of External Affairs has been appointed as the next High Commissioner of India to the Republic of Malta

Shri Rajesh Vaishnaw (IFS: 1996), presently Joint Secretary in the Ministry of External Affairs has been appointed as the next High Commissioner of India to the Republic of Malta.
He is expected to take up his assignment shortly.

Paytm Payments Bank appoints ICICI Bank’s executive Sudhanshu Jain as chief financial officer (CFO)

Paytm Payments Bank has appointed former ICICI Bank executive Sudhanshu Jain as its chief financial officer, its holding company One97 Communications Pvt. Ltd said Wednesday.
Jain has 14 years of experience across internal audit, finance and borrowing roles, among others. He was earlier assistant general manager and head of borrowing at the foreign exchange desk at ICICI Bank, where he spent 11 years.

New Appointments: International

Theresa May has named Gavin Williamsonas new Defence Secretary, replacing Michael Fallon

Theresa May has named Gavin Williamson her new Defence Secretary after the shock resignation of Sir Michael Fallon last night.
The former chief whip was a surprise appointment to the role, having risen quickly through the Cabinet ranks but holding no real defence experience.
Julian Smith, the former deputy, has been appointed chief whip and Esther McVay, who only returned to Parliament this year, takes on the deputy role.

Banking/Economic Affairs

SBI cuts interest rate on home, auto loans by 5 basis points to lowest at 8.30% for loans upto Rs 30 lakh and 8.70% respectively for car loan

State Bank of India (SBI), country's largest bank gave another boost to borrowers by offering home loans starting at 8.30 percent and auto loans at 8.70 percent.
In a bid to push retail loans, SBI cut both home loan and auto loan rates by 5 basis points or 0.05 percentage points. Rates have been reduced by 5 bps point in all the brackets (all tenures).
With this reduction, SBI's offering in home loan is the lowest in the market. The new rates will be effective from November 01, 2017, SBI said in a statement on Thursday.
The effective interest rate for all eligible salaried customers will be 8.30 percent per annum for loans upto Rs 30 lakh. SBI has cut the rates first time in 10 months.
For car loan customers, the loan amount ranges from 8.70 percent per annum to 9.20 percent per annum compared to earlier range of 8.75— 9.25 percent.

Yes Bank unveils 'BHIM Yes Pay' wallet by fully integrating the application with all the India Stack APIs and NPCI Products

Yes Bank, unveiled a superior payment wallet service, BHIM Yes Pay by fully integrating the application with all the IndiaStack APIs and NPCI Products. Yes Bank has over 5.5 lakh registered users on BHIM Yes Pay and more than 2 lakh users have already availed either UPI or Virtual Card Services to carry out P2P payments and online shopping. Since launch we have witnessed over 2 million transactions valuing close to INR 700 million.

Rankings

Chanda Kochhar, CEO of ICICI Bank was named the most powerful woman in India as she ranked 32nd in World's 100 Most Powerful Women list by Forbes. Angela Merkel, Chancellor of Germany tops the list.

Chanda Kochhar, CEO of ICICI Bank was named the most powerful woman in India as she ranked 32nd in World's 100 Most Powerful Women list by Forbes, followed by CEO of HCL Enterprise Roshni Nadar Malhotra, Chairperson of Biocon Kiran Mazumdar-Shaw, Chairperson of Hindustan Times Group Shobhana Bhartia and actress Priyanka Chopra.'
According to Forbes, the top 10 most powerful women in the world are:

Angela Merkel, Chancellor of Germany
Theresa May, Prime Minister of United Kingdom
Melinda Gates, Co-founder of Bill and Melinda Gates Foundation
Sheryl Sandberg, Chief Operating Officer of Facebook
Mary Barra, Chairman and CEO of General Motors Company
Susan Wojcicki, CEO of YouTube
Abigail Johnson, President and CEO of Fidelity Investments
Christine Lagarde, Managing Director of International Monetary Fund
Ana Patricia Botin, Executive Chairman of Santander Group
Ginni Rometty, President and CEO of IBM

National Affairs

Sikkim to get its first airport this month over 30 kilometres at an altitude of 4,700 feet from the state capital of Gangtok. It will be among the five highest Indian airports.

Sikkim is set to get its first airport by the end of November, over 30 kilometres from the state capital of Gangtok. The airport, built at an estimated cost of 300 crore, was supposed to be completed in 2012 but faced repeated delays.

The government announced the installation of FASTag, a rechargeable card that uses passive radio frequency identification (RFID ) technology to debit toll charges automatically, mandatory for all four-wheel automobiles sold from December 1.

Manufacturers and authorised dealers will have to ensure vehicles are fitted with the tag.
“In case of vehicles that are sold as drive-away chassis without windscreen, FASTag will have to be fitted by the vehicle owner before it is registered,” said the Union road transport and highways ministry in a statement.
The tag will allow seamless travel on highways, cutting long queues at toll booths. The FASTag has to be linked to a prepaid account by the vehicle’s owner.

Mumbai received its first batch of Brihanmumbai Electric Supply and Transport (BEST) four battery operated eco friendly buses this week

Mumbai’s long wait for zero-emission eco-friendly public transport buses is now over. The city received its first batch of four battery operated buses this week.
If you live in the island city, you will be able to ride in one of these by the end of the month.
Of the budget allotted to it by the civic body, the Brihanmumbai Electric Supply and Transport (BEST) bought these buses for Rs10 crore.

Border Roads Organisation (BRO) builds world's highest motorable road at 19,300 feet in Ladakh

Adding another feat to its list of achievements, the Border Roads Organisation (BRO) has built the world's highest motorable road at a height of over 19,300 feet.
PTI reported on Thursday that the road has been constructed in the Ladakh region of Jammu and Kashmir.
The 86-kilometre long strategic road, constructed under 'Project Himank' of the BRO, connects Chisumle and Demchok villages, which are at a distance of 230 kilometres from Leh. The two villages are stone's throw away from the Indo-China border in the eastern sector.
The road passes through Umlingla Top at a height of over 19,300 feet.

Allahabad's Meja Forest Division to get India's first black buck conservation reserve

Uttar Pradesh cabinet on Tuesday decided to make India's first conservation reserve for black buck in Allahabad's Meja.
Among the five major decisions taken in the cabinet meeting, the black buck conservation reserve in Meja Forest Division of Allahabad is seen as the most important one.
It is believed that the decision taken for protection of black deer will also help in wooing tourists here.

Walmart India launched its first fulfillment centre in Mumbai on Wednesday. President and CEO: Krish Iyer

The fulfillment centre is a new format of its cash-and-carry store model that will focus exclusively on FMCG products and staples and will not stock fresh food or electronics.
“While a full-fledged cash-and-carry store will take us about two-and-a-half years to open, the fulfillment centre in Mumbai came up within 60 days of us signing the agreement for the land,” Krish Iyer, President and CEO, Walmart India, told Business Line.

According to a joint study conducted by ASSOCHAM and EY, India Has Most Malnourished Children In The World

According to a joint study conducted by ASSOCHAM and EY, India is home to the largest number of malnourished children in the world. It was found that close 40% of Indian children were reportedly undernourished in the year 2015. "Over the decade (2005-15), there has been an overall reduction in the infant mortality rate and under-five mortality rate in India, yet the country is housing about 50 percent of undernourished children of the world," said the joint study by Assocham and EY.

International Affairs

'Fake news' named Collins Dictionary's official Word of the Year for 2017

The term “fake news” has been named Collins' Word of the Year 2017.
Usage of the term - which has often been used by US President Donald Trump - has risen by 365% since 2016.
Defined as “false, often sensational, information disseminated under the guise of news reporting”, “fake news” will now be added to the next print edition of Collins Dictionary.

World’s third largest book fair Sharjah International Book Fair (SIBF) opens in Sharjah as in UAE. Theme: ‘A World in My Book'

With more than 1.5 million book titles and 1,650 publishing houses from 60 countries, Sharjah International Book Fair (SIBF) opened its doors to public and trade visitors today. Now the third largest book fair in the world, the publishing mega-event takes place from 1 to 11 November at the Expo Centre Sharjah, which has added a 42,000 square foot (3,900 sqm.) temporary expansion for the fair.
Held under the theme ‘A World in My Book,’ SIBF 2017, this year’s SIBF hosts the United Kingdom as the SIBF Country of Honour, with the fair featuring a special programme bringing elite British authors and prominent literary figures, plus celebrated media personalities as Mark Billingham, creator of London-based detective Tom Thorne;

Defence & Railway

India Kazakhstan Joint Exercise “PRABAL DOSTYK-16” in Karaganda region of Kazakhstan

As a part of India’s continued efforts to strengthen Indo-Kazakhstan relations, troops of Indian & Kazakhstan Army are presently engaging in a joint exercise ‘PRABAL DOSTYK – 16. The Indian Army is being represented by a platoon strength. The Kazakhstan Army contingent comprise of platoon from Special Operating Force’s Unit. A pioneering endeavor with the Kazakhstan Army, the exercise is being conducted in Karaganda region of Kazakhstan and will conclude on 17 Sep 2016.

Summit /Conference / Events / Host

Prime Minister Narendra Modi inaugurates India's first an international mega food event 'World Food India' 2017 in New Delhi from Vigyan Bhavan where 800 kgs of khichdi will be made

Prime Minister Narendra Modi on Friday inaugurated an international mega food event, 'World Food India' 2017 in New Delhi from Vigyan Bhavan.
Speaking at the event, the Minister of Food Processing Industries, Harsimrat Kaur Badal, called this event 'historic'.
"Today is a historic day. 7,000 stakeholders from almost 60 countries have come under one roof," Badal said.
After the inauguration from Vigyan Bhavan, the Prime Minister will visit the Food Street at India Gate Lawns opposite the National Stadium.

Awards & Honours

Mumbai’s restored Royal Opera House on Charni Road bags UNESCO Asia-Pacific Award for Cultural Heritage Conservation award

The restored Opera House on Charni Road, which reopened around a year ago, has modern acoustics, sound, lighting and AC.
Almost a year after it reopened, Charni Road’s Royal Opera House has been awarded the UNESCO Asia-Pacific Award for Cultural Heritage Conservation.
The building was closed to the public in 1993, and sat crumbling for years, before a restoration project was undertaken eight years ago to replicate the heritage structure. It was originally inaugurated by Britain’s King George V in 1911 and completed in 1916.
Honorary director of the heritage site, Ashish Doshi, said they had taken up a challenge when they decided to restore the place, but pictures taken by an Australian journalist in 1914 helped them replicate the structure in toto.

Sports: Awards & Honours

Kidambi Srikanth rises to career-best number two in latest badminton rankings

India ace Kidambi Srikanth was rewarded for his sensational run this season as he grabbed a career-best ranking of World No. 2 after jumping two places in the latest BWF ranking released on Thursday.

Olympic bronze-medallist Gagan Narang wins silver in the men’s 50m rifle prone event of Commonwealth Shooting Championships in Gold Coast

Olympic bronze-medallist Gagan Narang won a silver medal in the men’s 50m rifle prone event of the Commonwealth Shooting Championships in Gold Coast on Monday.
Annu Raj Singh, who also made a comeback in the Indian team, had a good outing as she cruised her way to win the bronze medal in the women’s 50m pistol competition.
The 2010 CWG gold medallist shot a total of 28 in the finals to finish third.

What's New?

Current Affairs Updates - 4th November 2017