Daily Current Affairs 4th November, 2017

Daily Current Affairs 4 November 2017 for Banking/Insurance/SSC and other related exams.

NATIONAL NEWS

FASTag a must for all new four-wheelers from December 1: Centre

The government made 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.

• 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.
• The ministry notified the changes to relevant sections of the Central Motor Vehicles Rules, 1989.
• The move is part of the government’s much-hyped electronic toll collection (ETC) system.

India sets Guinness Record for cooking 918 kgs of Khichdi

A team of 50 chefs in a government-led initiative created a world record by cooking 918 kg “khichdi” live at the World Food India 2017 event.

• According to the organisers, their attempt to prepare Brand India khichdi using 800 kg of grains has entered the Guinness World Records.
• Famous chef Sanjeev Kapoor led the team for the preparation of khichdi. Multi-grains such as rice, bajra, ans ragi, as well as pulses, vegetables and spices were used in the khichdi.

Etikoppaka toys get GI tag, artisans cheer

Etikoppaka toys, popularly known as Lakkapidathalu, have received Geographical Indication by the Registration of Geographical Indication, categorised in class 20 of the toys category.

• The Etikoppaka toys are not only popular in Andhra Pradesh but also gained their popularity all over the country and abroad over the years.

India tops domestic air passenger traffic in September, China second: IATA

The International Air Transport Association (IATA), in its global passenger traffic data, revealed that India’s domestic passenger traffic was the highest among major aviation markets at 15.5 per cent in September, followed by China and the Russian Federation.

Maharashtra: Govt panel to study merger of weak DCCBs with MSC Bank

Maharashtra government has formed a committee to study the feasibility of merging financially weak District Central Cooperative Banks (DCCBs) with the Maharashtra State Cooperative (MSC) Bank. The panel, headed by former NABARD chairman Yashwant Thorat, is expected to submit its report in a month’s time. In the three-layered cooperative lending structure, the DCCBs disburse crop loans to village level Primary Agricultural Cooperative Societies (PACS), which in turn lend to the farmers.

First Heli Expo India & International Civil Helicopter Conclave Inaugurated

The 1st Heli Expo India and International Civil Helicopter Conclave-2017 is inaugurated in New Delhi. This two days 1st Heli Expo India & International Civil Helicopter Conclave-2017 is organised by Pawan Hans Limited, a Mini Ratna company of Ministry of Civil Aviation in association with PHD Chamber of Commerce and Industry with the theme of ‘Enhancing Connectivity’

India successfully tests its first fully indigenous Glide bomb

The Union Government announced on 3 November 2017 that an indigenously developed lightweight ‘Glide’ bomb was successfully tested in Chandipur in Odisha.

• The development marks a major milestone in developing such weapons. The bomb – SAAW (Smart Anti Airfield Weapon) – was dropped from an Indian Air Force aircraft at the Integrated Test Range (ITR) in Chandipur on 2 November.

INTERNATIONAL NEWS

5-ship Indian naval training flotilla on visit to Colombo

A five-ship Indian naval training flotilla, based in Kerela is on a visit to Sri Lanka to foster “bridges of friendship” between the two countries and expose their trainees to foreign waters.

• The ships — INS Tir, INS Sujata, INS Sudarshini, INS Shardul and Coast Guard vessel ICGS Sarathi — would be there in the Sri Lankan coast till November 6.

World Youth Forum 2017 in Sharm El sheikh, Egypt

The Minister of State (Independent Charge) Youth Affairs and Sports Col. Rajyavardhan Rathore is going to attend World Youth Forum, scheduled to be held at Sharam El Shiekh, Egypt from 5th November. World Youth Forum is a platform that sends a message of peace, prosperity, harmony and progress to the entire world built by promising youth.

BANKING & FINANCE

RBI asks large borrowers to obtain 20-digit Legal Entity Identifier unique code

The Reserve Bank of India (RBI) directed corporate borrowers having exposure of Rs 5 crore and above to mandatorily obtain 20-digit Legal Entity Identifier (LEI). The move is aimed at improving risk management in the wake of the huge stressed assets in the banking system.

• RBI said that borrowers with fund and non-fund exposure of Rs 1,000 crore and above will have to get the unique code by March 31, 2018. 
• Those having exposure between Rs 500 crore and Rs 1,000 crore have to obtain the LEI code by June 30 and those having between Rs 100 crore and Rs 500 crore by March 31, 2019.
• Borrowers with bank credit between Rs 50 crore and Rs 100 crore have been given time to comply with LEI provision by December 2019.
• LEI is a 20-digit unique code to identify parties to financial transactions worldwide.
• Entities can obtain LEI from any of the local operating units (LOUs) accredited by the Global Legal Entity Identifier Foundation (GLEIF) – the entity tasked to support the implementation and use of LEI.

ECONOMY

India to be high-middle income country by 2047: World Bank CEO

Lauding India’s increasing per capita income, World Bank CEO Kristalina Georgieva said she has no doubt that India will be a high-middle income country by 2047 when it completes its centenary year of independence.

• Georgieva praised India for its sudden jump of 30 ranks in 2017, the biggest leap ever, in the history of the ease of doing business.
• She hailed Prime Minister Narendra Modi for his “high-level ownership” efforts and “championship of reforms” that led to achieve India such a ranking in ease of doing business.

PAN not needed for cash sale of agri produce up to Rs 2 lakh/day

The revenue department has announced that farmers do not need to quote PAN for cash sale of their produce up to Rs 2 lakh a day.

• The newly inserted section 269ST in the Income Tax Act bans such cash dealings on a single day, in respect of a single transaction or transactions relating to one event or occasion from an individual.
• The provision implies that any cash sale of an amount of Rs 2 lakh or more by a cultivator of agricultural produce is prohibited under section 269ST of the Act.

BUSINESS

Rs 10,000 Crore MoU signed between Govt of India & Patanjali

A memorandum of understanding (MoU) of Rs 10, 000 Crore was signed between the Government of India (GoI) and Patanjali at the World Food India 2017.

• The MoU was signed by Managing Director of Patanjali, Acharya Balkrishna and Harsimrat Kaur Badal, the Union Cabinet Minister of Food Processing in the Government of India.

APPOINTMENTS & RESIGNS

Mary Kom named Youth World Championships ambassador

Five-time world champion M C Mary Kom was named ambassador of the AIBA Women’s Youth World Championships to be held in Guwahati from November 19 to 26.

Lebanese Prime Minister Saad Hariri resigns

Lebanon’s prime minister Saad al-Hariri resigned, citing an assassination plot against him and accusing Iran and its Lebanese ally Hezbollah of sowing strife in the Arab world.

AWARDS & RECOGNITIONS

Air New Zealand named airline of the year

Air New Zealand has been named Airline of the Year for 2018. AirlineRatings.com has honoured the airline with its most prestigious award for the fifth consecutive year.

Girish Karnad to be honoured with Tata Literature Lifetime Achievement Award 2017

Versatile actor and playwright Girish Karnad will be honoured with Tata Literature Live! Lifetime Achievement Award 2017 on 19 November 2017.

Tamil Nadu’s Srirangam temple wins UNESCO award

The Sri Ranganathaswamy Temple in Srirangam, the sacred shrine temple has won the UNESCO Asia Pacific Award of Merit 2017 for cultural heritage conservation following the massive renovation and restoration work .

• It has become the first temple in Tamil Nadu to be given the prestigious award from the UN body.

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