Daily Current Affairs 12 October 2017 for Banking/Insurance/SSC and other related exams.
Government to commemorate 150th Birth Anniversary of Mahatma Gandhi From 2 Oct 2019 to 2 Oct 2020
Government of India will commemorate the 150th Birth Anniversary of Father of the Nation Mahatma Gandhi during the period from 2nd October, 2019 to 2nd October, 2020.
- The event will be celebrated at both national and international levels to propagate the message of the Mahatma. A National Committee headed by Prime Minister Narendra Modi has been constituted for the purpose.
- This Committee includes the Chief Ministers of all the states of the country, representatives from across the political spectrum, Gandhians, thinkers and eminent persons from all walks of life.
- The Committee will guide and approve policies, programmes, activities for the commemoration and will also supervise implementation of the decisions taken from time to time.
India slips 3 notches to 100 on Global Hunger Index
India has a ‘serious’ hunger problem at hand, with the country slipping three notches to 100 among 119 countries on the Global Hunger Index (GHI), 2017. This is worse than the likes of North Korea, Bangladesh, and Iraq, and better only than Pakistan and Afghanistan among Asian countries.
- The country’s serious hunger level is driven by high child malnutrition and underlines need for stronger commitment to the social sector, the International Food Policy Research Institute (IFPRI) said in its report.
Digital payments to grow at 26 % CAGR during 2016-2020: World Payment Report
A new World Payment Report said that the initiatives of the government and the National Payments Council of India (NPCI) will help non-cash transactions grow at a compound annual growth rate of 26.2 per cent during 2016 to 2020.
- The World Payment Report 2017 was jointly commissioned by Capgemini and BNP Paribas. The report is about digital payments and transactions all around the world and their progress.
Smriti Irani inaugurates 44th Indian Handicrafts and Gifts-Delhi Fair
Textiles Minister Smriti Irani inaugurated the 44th edition of Indian Handicrafts and Gifts (IHGF)-Delhi Fair at India Expo Centre and Mart on the outskirts of Delhi in Greater Noida. The B2B IHGF Fair will be open till 16th October showcasing nearly three thousand exhibitors under 14 product categories.
Bengaluru to host World Sudoku, Puzzle Championships
Bengaluru will host the 12th World Sudoku Championship and the 26th World Puzzle Championship from October 15 to 21, which will witness the participation of over 33 countries.
- While the World Sudoku Championship is about the puzzle sudoku and its variations, the World Puzzle Championship involves all kinds of logical puzzles. Both the championships are held annually.
- This will be the first time since 1992, when the first World Puzzle Championship took place, that the championship will take place in India.
China overtakes US as worlds largest ice cream producer
China has overtaken the United States as the world’s largest ice cream producer, according to data from an industry expo in Tianjin City. China’s per capita consumption of ice cream has grown from one liter 20 years ago to 3 liters in 2016.
BANKING & FINANCE
RBI’s strict KYC norms to keep e-wallets safe
The Reserve Bank of India (RBI), in a set of fresh guidelines, has introduced stricter Know Your Customer (KYC) norms for wallet users, allowed interoperability and brought in fraud detection norms to prevent fake wallet transactions steps which will change the scope of operations for mobile wallets.
- Complying with the KYC will allow customers to move money between wallets of different companies and banks seamlessly through Unified Payments Interface (UPI).
- The wallet users have been asked to comply with the full KYC format by the end of this year.
- Even mobile wallets will have to convert to full KYC wallet within 12 months of opening it.
- Minimum KYC wallets cannot have a balance of more than Rs 10,000 and this can be allowed only for purchase of goods and services and not for remittances to other wallets or bank accounts.
- Full KYC wallets will have a limit of Rs 1 lakh and all facilities for fund transfer will be allowed.
- RBI has also increased the networth requirements for players in this space. For a PPI licence, companies need a positive networth of Rs 5 crore at the time of application against Rs 2 crore previously. This has to be Rs 15 crore within the third financial year of receiving RBI authorisation.
- RBI has also increased the limit on the amount that can be transferred from wallets to Rs 1 lakh. It also allowed inward international remittance for wallets, with an upper limit of Rs 50,000.
HSBC Launches App to Track Trade Transactions
HSBC (Hongkong and Shanghai Banking Corporation) announced the launch of a mobile app – Trade Transaction Tracker – to help customers track the status of their trade transactions on a real-time basis.
It will provide a global view of import and export documentary credit and collections transactions, across markets in one single app.
BUSINESS – ECONOMY
Global IoT market to hit $1.29 trillion by 2020: Report
With the emergence of digital economy, the global Internet of Things (IoT) market spend will grow from $625.2 billion in 2015 to $1.29 trillion in 2020 — with a compound annual growth rate (CAGR) of 15.6 per cent, a report revealed.
- According to International Data Corporation (IDC), in partnership with US-based IoT service provider Aeris, the installed base of IoT endpoints will grow from 12.1 billion at the end of 2015 to more than 30 billion by 2020.
India’s industrial output in August jumps 4.3% year-on-year
According to the Ministry of Statistics and Programme Implementation, the Indian Index of Industrial Production (IIP) for August released showed that factory output grew 4.3 per cent against the same month last year on the back of robust mining and electricity sector growth.
Bharti Airtel acquires Tatas’ telecom business on cash-free basis
Bharti Airtel and Tata have announced that they have entered into an understanding to merge Consumer Mobile Businesses (CMB) of Tata Teleservices Limited (TTSL) and Tata Teleservices Maharashtra Limited (TTML) into Bharti Airtel.
Staubli first female referee to officiate in U-17 World Cup
Switzerland’s Esther Staubli will become the first female referee to officiate a match at the FIFA U-17 World Cup when Japan clash with New Caledonia in the final round group E match in Kolkata on 14th October 2017.
- This is in line with FIFA’s objective to further develop women’s football.
- Staubli is one of seven women referees invited to the FIFA U-17 World Cup 2017
Yuvraj Singh named Laureus’ first Indian ambassador
Flamboyant India cricketer Yuvraj Singh has been appointed as Laureus’ first Indian ambassador, joining the host of cricket legends in the Laureus family, including Indian Academy members Sachin Tendulkar, Rahul Dravid and Kapil Dev.
- The Laureus World Sports Awards is an annual award ceremony honoring remarkable individuals from the world of sports along with the greatest sporting achievements throughout the year.
Nehra confirms his retirement from all forms of cricket on Nov. 1
Veteran Indian pacer Ashish Nehra confirmed that he would be retiring from all forms of cricket after the opening Twenty20 International of the three-match series against New Zealand, which is to be held at the Feroz Shah Kotla in New Delhi on November 1
Preeti Sudan to be new Union Health Secretary
Preeti Sudan, 1983 batch Indian Administrative Service of Andhra Pradesh cadre, was appointed as the new Union Health Secretary.
- Sudan will replace her batchmate from Bihar cadre C.K Mishra, who will be the new Environment, Forest and Climate Change Secretary.
Namita Gokhale bags Centenary National Award for Literature
Eminent writer Namita Gokhale has been nominated for the first Centenary National Award for Literature, to be conferred by one of the most prestigious literary bodies in India — the Asam Sahitya Sabha — for her outstanding literary contributions as well as her service to the nation in supporting and showcasing literary talent and creating a literary environment in the country.
- This is also the first time that the Sabha will be honouring an English-language author.
Prez awards Sulabh founder Bindeshwar Pathak
The President of India, Shri Ram Nath Kovind, presented the Lal Bahadur Shastri National Award for Excellence in Public Administration, Academics and Management for the year 2017 to Dr. Bindeshwar Pathak.
International Day of the Girl Child: 11 October
International Day of the Girl Child observed annually on October 11 is an international observance day declared by the United Nations; it is also called the Day of the Girl and the International Day of the Girl. The observation supports more opportunity for girls and increases awareness of gender inequality faced by girls worldwide based upon their gender.
- The International Day of the Girl Child 2017 Theme: “EmPOWER Girls: Before, during and after crises.”