Daily Current Affairs – 16 October 2015

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  • In a development today, Supreme Court has declared the National Judicial Appointments Commission which was going to replace the collegium system, as  unconstitutional. The five judge bench of the SC has passed a unanimous verdict on the issue while striking down the 99th amendment to the constitution. The court said that the existing collegium system will continue
  • After around 57% turnout in the first phase of the polls, the 2nd phase of polling in Bihar is scheduled for today. In the second phase, the sol-called “red zone” of the state will let its decision known to the political stalwarts of the state
  • In a 2002 case of excess allocation of Spectrum by the telecom department, top telcos like Airtel and Vodafone along with the then Telecom Secy Shyamal Ghosh have been acquitted by a special CBI court and pulled up the agency for presenting bogus details in its chargesheet
  • In a setback to the political warhorse Lalu Prasad Yadav, the Election Commission has warned him of violating the model code of conduct by his casteist remarks and asked him to be careful in his speech from next time
  • M Bhoopal Reddy has decided to return his Sahitya Akademi Award to express solidarity with the awardees who have already relinquished their awards. Reddy is the first Telegu author to do so

 

Banking and Finance

  • With the fastest growing market in the world, India is going to become the biggest market for ecommerce giant Amazon with a gross merchandise value of $10 billion in sight in the coming couple of years. On the back of this, Amazon may invest more than $2 billion its founder Jeff Bezos has already pledged to spend in India
  • Micro-Blogging site Twitter has named Omid Kordestani as its executive chairman after Jack Dorsey was appointed as the permanent CEO last week. These moves are aimed at turning the site around to its previous glory
  • US Market is cheering up as it has experienced the lowest ever unemployment rate and consumer prices in September. While Consumer Price Index fell 0.2%, unemployment rate fell to a 42-year low in the last month
  • In a move that can dent the image of Indian economy, the Income Tax Department has started charging 30% TDS on Foreign Portfolio Investments coming through Cyprus
  • In another low for the country, exports saw a downward turn for the 10th Straight month when it fell 24.33% to touch the low of $21.84 billion because of steep fall in exports of petroleum products, iron ore and engineering goods
  • In an embarrassment to the ecommerce giant Flipkart, it has restricted the order flow for sellers in Agra for around 2 days after the company was hit by another logistics issue after the same happened with it last year when it was offering “big billion day” services
  • After years of separation, finally the biggest family business in India has decided to come together regarding sharing of airwaves for 4G services. Mukesh Ambani and Anil Ambani have told the Department of Telecommunications that they intend to come together to offer 4G services in 10 markets, by sharing spectrum held by them with one another
  • In a relief to the Adani group, it has got the go-ahead in terms of environment clearance from the Australian government in the $7 billion dollar Carmichael Mine and rail projects
  • As a first for RBI, the Etailers have asked permission from the regulator to extend credit facilities to the MSME sector, which is reeling under inadequate funding from the traditional banking sector
  • Indian cities such as Delhi, Mumbai, Bangaluru have emerged as the top destinations for commercial rentals as the yields on rentals have been in the range of 9-10% in Indian cities in 2015
  • In a setback to Bank of India, CARE Ratings has downgraded the bond ratings of the bank from AAA to AA+ on the back of a fall in asset quality of the bank. The ratings have been downgraded for both Rs 3000 crore upper tier II bonds and Rs 700 Crore perpetual bonds
READ  Daily Current Affairs - 13th November 2014

GK and World Affairs

  • Union HRD ministry has constituted a search panel for appointment of new Vice Chancellor in Jawaharlal Nehru University, Delhi. The committee will be headed by Dhirendra Pal Singh, the former VC of Banaras Hindu University{module Link Ads 200*90}
  • Nobel Laureate Kailash Satyarthy has been chosen for the Harvard Humanitarian Award 2015 for his contribution towards ending violence on children
  • The DRDO missile complex in Hyderabad has been renamed as Dr A P J Abdul Kalaam Missile Complex on the 84th Birth anniversary of the People’s President. The president worked with DRDO as a scientists after joining in 1982
  • Malabar Naval Exercise between India, US and Japan kicked off in the eastern coast of Indian Ocean and Bay of Bengal. The exercise is aimed at coordination between the navy of these countries in the areas of maritime security as well as technology advancement
  • Supreme Court has allowed the use of Aadhaar Card in few more services other than the welfare schemes as of now though the apex court has decided to form a 9-judge bench to ascertain the legal validity of the biometric-system. It has, however, allowed its use in pension releasing, provident fund etc but the beneficiary will decide whether to use it or not
  • Supreme Court has asked the Maharashtra Government to allow dance bars in Mumbai but it has categorically mentioned that the peformance in these bars should not be even close to being obscene
  • The Indian Air Force has decided to place an order for 100 more Tejas Light Combat Aircraft, which is supposed to be based on indigenous technology. But, the last audit by CAG showed that around 70% of the systems are imported
  • The top consumer court in the country, the National Consumer Disputes Redressal Commission, headed by Justice VK Jain, has ordered the magi samples with the government to undergo fresh tests in the Central Food Technological Research Institute in Mysore. This came after the government filed a Rs 640 crore class action suit against the Company namely Nestle India Private Limited
  • In a bid to cut down the travelling time between Delhi and Jaipur, the government has decided to build a Greenfield national highway of a length of 250 km at the cost of Rs 30000 Crore. The highway is expected to bring down the travelling time between the cities to less than 2 hours
  • Portugal became the first European country to sign a memorandum of understanding on Nalanda University. It became the 17th country to do so
  • India and Mozambique will cooperate each other in the areas of green energy development, technology research for renewable energy etc as both the countries have signed a memorandum of understanding for this purpose
  • During the visit of Indian President, India and  Israel signed two agreements on cultural exchange from 2015 to 2018 as well as Double Taxation Avoidance Agreement
READ  Daily Current Affairs - 21st January 2015

Sports and Technology

  • Indian pace stalwart Zaheer Khan has retired from international career after injuries cut short his successful career. With 610 wickets across various formats, he remains the fourth highest wicket taker for India
  • Shweta Rathore became the first Indian female bodybuilder to win Silver in the Asian Body Building Championship. She will now compete in the World Championship to be held in Thailand
  • Musa Indandamanensis, a new sweet banana species, has been discovered by the scientists of Botanical Survey of India in the Nicobar Islands
  • In a dramatic turnaround, FC Goa came from behind to beat North East United FC 3-1 in an encounter of Indian Super League in Guwahati
  • After taking charge of the Cricket Association of Bengal, former Indian Skipper Sourav Ganguly has announced a thorough renovation of the iconic Eden Gardens in Kolkata
  • Former World Champion Viswanathan Anand of India continued his drop of form in World Blitz Championship in Berlin, Germany, where he finished 22nd in the leader board. Russian Chess buff Alexander Grischuk walked away with the title
  • In a blow to Nepal football, its captain Sagar Thapa has been arrested over allegations of match fixing in the world cup qualifiers for the last Football world Cup in Brazil in 2014

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