Daily Current Affairs – 7 October 2015

Daily Current Affairs 07th October, 2015

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  • Ahead of the crucial election in Bihar, a survey by the Election Commission of Bihar came as a shocking revelation to the EC itself. In Bihar, 80% of people agreed that “cash for vote” is pretty much okay and there is no problem in that. EC has undertaken a campaign to promote ethical voting in the state after this survey report came out
  • In its report submitted to the government, PDT Achary committee tasked with recommending a salary structure for Delhi MLAs went for a 400% hike in the basic salary of the MLAs. According to the report, the basic salary should be 50000 from the present 12000 and other amenities should be provided to the legislators
  • Eminent author Nayantara Sehgal, also niece of Jawaharlal Nehru, returned the Sahitya Akademi Award she won in 1986 for her novel “Rich Like Us (1985)” in protest against the growing intolerance to any dissenting voice and the apathy of the government to bring the perpetrators of such crimes to book. Noted author Ashok Bajpeyi also follow suit

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  • Central Government has decided to set up a lab in Mumbai to check the meat that is being exported from the country. The move is aimed to ensure that cow meat is not being exported from the country
  • In Dadri village in UP, where a man was lynched to death, villagers now want to decide what should be covered by the media because according to them, media is publishing sympathetic reports about Akhlaq, the victim’s family
  • After a violence-marred civic polls in the state on Sunday, State Chief Electoral Officer of West Bengal, Sushanta Ranjan Upadhyay quit from the post
  • Former UN General Assembly president John Ashe has been charged with bribery while in power for taking bribe of $1 million dollar from Chinese businessmen to pave the way for lucrative investments

Banking and Finance

 

  • Addressing the anniversary of the Central Bank of Sri Lanka, RBI Governor Dr. Raghuram Rajan called for coordination between countries in areas of free trade agreements, open market operations etc in order to avert a global economic crisis in the near future
  • Investors are in for a rich feast in the coming months because companies like Café Coffee Day, Indigo are going to vie for their attention when they launch their IPOs later this month
  • Sensex ups for 5th straight day after the unexpected rate cut by RBI and closes above 147 points at 26932.88
  • ICICI Bank has increased the mark-up rate over base rate for its home loan customers. As a result, though the base rate of the bank is 9.35%, the lowest interest rate in home loans is 9.60% for women and for salaried borrowers, it is 9.65%
  • Amid global slowdown and also Chinese market turmoil, Indian corporate houses have maintained a distance from the overseas bond market. As a result, in the second quarter, Overseas Bond Issues fell to $1.6 billion compared $6 billion in the corresponding period last year
  • Nikkei Services Purchasing Managers’ Index (PMI) indicates a slowdown in the services sector as well after a similar report regarding manufacturing output last week. Services PMI stood at 51.3 in September compared to 51.8 in August, 2015
  • In a desperate and dedicated move to unearth black money, the Union government has found friends in foreign governments like Germany, Singapore, Mauritius, France, Switzerland, British Virgin Islands who are ready to share information regarding the accounts held by Indians in these countries
  • Commerce Ministry is going to propose reversal of MAT, imposition of lower tariffs in Special Economic Zones in order to boost exports which has not seen growth in the last nine months
  • IMF revises the rate of GDP growth in India downwards to 7.3% for the year 2015-16. However, IMF predicts China to grow at a slower rate of 6.8% and India to remain the fastest growing economy in the world

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  • National Council of Applied Economic Research, one of the oldest think tanks in India has come out with a report titled “The Indian Steel Industry: Key Reforms for a Bright Future” which underlines the lack of investment in the steel sector in the country. Demand deficiency, increasing imports, complicated and excess taxation are some of the hurdles that have been accused of preventing India to become a world class steel industry
  • Snapdeal decided to disburse loans of 1000 Cr by March, 2016 to the SME sector under its Capital Assist initiative

GK and World Affairs

 

  • On her second day in India, German Chancellor Angela Merkel was in Bangaluru, also known as the silicon valley of India. She stressed on the need for fair treatment to global companies and also the resumption of the Free Trade Agreement. In a separate move, Germany pledged 1 billion euro in India’s efforts to promote solar energy in the country
  • In an announcement made on 06th October, 2015, the Nobel Prize Committee announced the winners of the Nobel Prize for Physics, 2015. The winners are Takaki Kajita (Japan) and Arthur B Mcdonald (Canada). They have proved that Neutrinos, the sub-atomic particles can have mass and can change identities as well
  • Indian President Pranab Mukherjee embarked on a 6-day visit to Jordan, Israel and Palestine on 6th October, 2015. This visit is expected to express solidarity of Indian government towards the Palestinian cause
  • Union Government launches the second phase of Indradhanush mission, a programme to move towards a completely vaccinated India. In the second phase, government is going to take the programme to 352 districts
  • Indian Institute of Technology Council has decided to waive fees for physically challenged students
  • INS Astradharani, an indigenously designed and built torpedo vessel has been commissioned at Vizag. This will be used in carrying out underwater trials of weapons and defence systems
  • In a judgment by Madras HC, the NGO  Greenpeace India has been asked to seek permission from the government before receiving any foreign funding
  • Supreme Court will today decide the fate of Aadhaar project with respect to its compulsory use in purposes other than Public Distribution System benefit disbursement
  • European Union’s top court struck down the safe-harbour accord, a law that gives unfettered access to private data of Europeans by US’ spies. This came after an Australian law student raised an alarm about the law. The Trans-Atlantic pact allows US to move back commercial data to its own country
  • “The Courage to Act: A Memoir of a Crisis and Aftermath” written by former Federal Reserve Chairman Ben Bernanke gives an inside account of the infamous 2008 global financial crisis

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  • Korean Professor Houseng Lee has been chosen to succeed RK Pachauri as the Chairman of the Intergovernmental Panel on Climate Change (IPCC) in its 42nd Session underway in Croatia
  • Saudi Blogger Raif Badewi, who has been jailed and flogged for insulting muslim clerics in his country, has been awarded with the PEN Pinter Prize, 2015 along with British Poet James Fenton

Sports and Technology

 

  • Taking forward the philanthropic drive further, Facebook has now decided to launch a satellite to facilitate internet access available in the remote parts of Africa
  • Microsoft has launched its first ever laptop to push the growth of Windows 10 in a market of cut-throat competition from rivals like Apple Inc and Google
  • India sends the most number of scientist and engineers to USA, according to a survey by National Science Foundation’s National Centre for Science and Engineering Statistics (NCSES). India accounts for a total of 9.5 lakh scientists and engineers in USA out of a total of 2.96 million
  • The master blaster’s team started in a blasting manner in the Indian Super League, 2015 where Sachin’s team Kerala Blasters defeated the North East United FC by 3-1

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  • In a bid to improve the performance of Indian sprinters in the long run, Sports Authority of India (SAI), Athletics Federation of India (AFI) and the International Association of Athletics Federations (IAAF) have decided to set up a centre of excellence in the Jawaharlal Nehru Stadium in New Delhi
  • Sergey Karjakin of Russia has defeated Peter Svidler in the final to emerge as the World Chess Champion, 2015. The tournament was held in Baku, Russia
  • Anirban Lahiri became the third Indian golfer to get a PGA tour card after the web.com series concluded. Before him, Arjun Atwal and Jeev Milkha Singh also got the PGA tour cards
  • Commonwealth Games and Asian Games medalist boxer Jai Bhagwan has been charged with taking bribe of Rs 1 lakh by the Haryana Police
  • Shoaib Malik, former captain of Pakistan Cricket team and husband of Indian tennis ace Sania Mirza, has been recalled to test squad announced for England tour, after 5 long years

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