Current Affairs – 8 October 2015

Daily Current Affairs: 08th October 2015

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  • Former PM Manmohan Singh requested the Supreme court to expedite the hearing and trial process in the coal scam in which he has been accused of favouritism towards the Hindalco Group. He expressed his discomfort over the tag of accused hanging over his head in the case

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  • In a fresh twist to the stand-off between Delhi University Vice-Chancellor and the HRD ministry, Centre has recommended to send DU VC Dinesh Singh on compulsory wait till the end of his tenure on October 29, 2015
  • In an effort to diffuse tension in Dadri village in UP, Union Minister of state of Minority Affairs, Mukhtar Abbas Naqvi chaired a meeting of clerics and religious leaders of the village to urge them to maintain peace in the area. BJP, on the political level, warned its leaders regarding comments tarnishing the image of the party
  • Karnataka government has dissolved the Goseva Ayog (Cattle Protection Commission) set up by the previous BJP government to enforce a ban on cow slaughter in the state
  • Shiv Sena forced the organizers of Pakistani Singer Ghulam Ali’s concert to call it off because Pakistan has not taken any step to curb terrorism and therefore, according to the party, it should not be allowed to engage in cultural relations with India

Banking and Finance

  • International Monetary Fund released its World Economic Output Report, 2015 in which the international financial organization predicted a global growth of 3.1% for the year 2015. The estimates regarding Indian growth has been pegged at 7.3% in 2015 and 7.5% in 2016
  • Reserve Bank of India relaxed norms for FPI investment in government securities by paving the way for an upward revision of the existing limit. The FPI limit has been set at 1.86 lakh crore with effect from January 1, 2016. The move is aimed at bringing an additional 1.2 lakh crore in the system
  • Union Road transport secretary Vijay Chhibber accused the banks of not following due diligence while extending credit to the road developers and thereby creating a bubble. This, according to him, has resulted in a high number of Non-Performing Assets in the sector
  • Continuing its rally for the sixth consecutive day, Sensex was up for 103 points and closed on a high of 27035 points where NSE Index Nifty ended the day at 8177.40 points, up 24.50 points
  • Aditya Birla group has entered into a partnership with the Abraaj group, a globally leading investor operating in growth markets for cooperation in renewable energy sector
  • Café Coffee Day holding company Coffee Enterprises announced its plans to enter the stock market with an IPO of 1150 crore on October 14, 2015

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  • Amazon is going to invest an amount of 1237 crore in its Indian entity, the highest ever capital infusion by the e-commerce giant in its Indian entity
  • Volkswagen India has asked the dealers to hold the selling of its Polo Cars (both the diesel and petrol variants) in India due to technical reasons
  • Indian tech giant Wipro faces sexual harassment case in UK after one of its former employees, Shreya Ukil, accused her boss of sexual harassment, sex discrimination, unequal pay and unfair dismissal. The company may end up coughing a compensation of 1 million pounds if the court finds the allegations true
  • Following suit of its peers in the banking sector, Corporation Bank, a state owned entity has revised its base rate downwards to 9.65%
  • Union Cabinet will take a final call on the 13200 crore FDI proposals of Sistema Shyam Teleservices Limited and IIFL Holdings, today. It has been referred to the cabinet committee by Foreign Investment and Promotion Board
  • Bajaj Allianz Life ties up with Dhanlaxmi Bank, a private sector emerging player, to facilitate distribution of its products

GK and World Affairs

  • In a continuation of its August 11 ruling, the Supreme Court refused to allow Aadhaar card usage in welfare schemes other than the Public Distribution System. However, it referred the issue of a person’s right to shed his right to privacy in order to ease his or her access to welfare schemes, to a larger constitutional bench
  • In an announcement made today, The Nobel Prize Committee has decided to give away the Nobel Prize for chemistry to Tomas Lindahl (UK), Paul Modrich (USA) and Aziz Sancar (USA). These scientists have been awarded due to their discovery of how cells in the human body repair a damaged DNA while safeguarding the genetic information stored in the DNA, at a molecular level
  • Pravasi Bharatiya Divas 2016 is going to be held in New Delhi from 8th to 10th January, 2016

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  • US Congress approved a whopping $612 billion defense bill and sent it to President Barack Obama for final approval. The bill seeks to introduce a war-fighting chest of $38 billion whereas no substantial allotment has been approved for the domestic institutions
  • Union government has cleared the proposal to establish a National War Museum and a National War Memorial in the Indira Gate region in New Delhi with an estimated cost of 500 crore and a time frame of 5 years to make it fully operational. This is aimed at creating a national memorial for soldiers who died in wars post independence
  • The Union Ministry of Urban Development has announced that the selection of 20 cities for up gradation to smart cities will be on the basis of merit and not any state wise quota as was the case for initial round of selection of 100 cities
  • The Indian think tank Centre for Science and Environment-conducted study called “Captain America (US Climate Goals: A reckoning) shows how the richest country on Earth is destroying it due to its consumption-oriented lifestyle. US has pledged to reduce emission by 26-28% below the 2005 level under the Intended Nationally Determined Contributions (INDC)
  • Central Government has approved setting up of 3 more AIIMS-like institutions in Nagpur, Maharashtra, Mangalgiri in Andhra Pradesh and Kalyani in West Bengal
  • Union Home Minister Rajnath Singh has announced setting up of a national database for human trafficking in order to facilitate better coordination among the law enforcement agencies and NGOs
  • Maharashtra Government ordered the Lavasa Corporation to give back 200 acres of land to its owners i.e. the tribal families
  • In a move that is set to benefit around 12.58 lakh non-gazetted employees, Union cabinet has approved the payment of productivity-linked bonus for the year 2014-15 to the tune of a 1030.02 Cr
  • In an effort to boost the use of renewable energy in the country, central government has decided to do away with the transmission charges for electricity generated by renewable energy sources
  • Whitefly, a common pest, has damaged around 2/3rd of the cotton crop in Punjab causing an estimated loss to the tune of Rs 4200 crore. This has prompted as many as 15 farmers to commit suicide in the state this year
  • Gujarat High Court refused to defreeze the bank accounts of Teesta Setalvad and her husband Javed Anand as well as their NGOs – Sarbang Trust and Citizens for Peace and Justice
  • PM Narendra Modi has asked the states to finish with the Aadhaar enrolling process by the end of this year and finish it within 31st December, 2015 positively
  • An Expert Appraisal Committee of the Union Environment Ministry has recommended to increase the ash content in imported coals to 25% from the current level of 12% in order to protect the interest of the domestic power plants which source their coal from the importers

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Sports and Technology

  • In a move to reduce the problems of the farmers, Union government has launched KISAN (Crop Insurance using Space Technology and Geoinformatics) to help farmers have access to more technological intervention. This portal will use drones, satellites to take stock of yield data of farmers as well as will assess crop damage during natural calamities.
  • Union government has introduced an exclusive app to assess damage to crops due to hail storm related incidents. Via Hailstorm app launched by the government, farmers will be able to take the photo and send it to the government to have access to fast relief
  • The ISL encounter between FC Goa and Atletico De Kolkata ended in a stalemate of 1-1
  • Former India physio Andrew Leipus has been roped in to attend to the injuries of players and he will be working with the National Cricket Academy
  • India is going to face Turkmenistan in 2018 FIFA World cup qualifier today in Ahgabat, Turkmenistan
  • Under new President Shashank Manohar, BCCI has appointed new auditor as well as a new audit firm apart from shifting its tax related matters office to Mumbai from Chennai
  • Sourav Ganguly, the former Indian Captain, is set to be officially elected as the new president of Cricket Association of Bengal on 15th October 2015
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