Daily Current Affairs : October 25, 2017

NATIONAL

Uttar Pradesh: Cabinet to set up 24 hours Chief Minister’s helpline service to redress problems of people

The UP Cabinet gave its nod for the constitution of a Prayagraj Mela Pradhikaran (Prayagraj Mela Authority).

Regarding the helpline service, in the first phase, a call centre will be established in Lucknow.

Giving details, UP Energy minister Shrikant Sharma said, “For redressal of problems of the common public, a toll-free Mukhyamantri Helpline Seva will be started. In the first phase, a 24-hour call centre will be established in Lucknow”.

Uttar Pradesh

• Capital: Lucknow
• Chief Minister: Yogi Adityanath
• Governor: Shri Ram Naik

Government of India and the Asian Development Bank (ADB) Sign $300 Million Loan to Promote Further Fiscal Reforms in West Bengal:

The Asian Development Bank and the Government of India signed a $300 million loan to continue a series of fiscal reforms in the State of West Bengal to improve the quality of public service delivery.

The Second West Bengal Development Finance Program targets a further increase in public investment through reduction of unproductive expenditure, and savings from efficiencies in revenue collections.

West Bengal

• Capital: Kolkata
• Chief Minister: Mamata Banerjee
• Governor: Keshari Nath Tripathi

Shri Rajnath Singh attends 56th Raising Day Parade of Indo-Tibetan Border Police:

The Union Home Minister Shri Rajnath Singh attended the 56th Raising Day Parade of Indo-Tibetan Border Police (ITBP) at 39th Bn, ITBP, Lakhnawali Camp, Surajpur, Greater Noida. The Minister of State for Culture (I/C) and Environment, Forest & Climate Change, Dr. Mahesh Sharma, DG, ITBP Shri R K Pachnanda and senior officers were also present on the occasion.

Gujarat Government announces additional benefits for karma-yogis working on fix pay on 11 months contract:

Gujarat Government has announced several additional benefits for thousands of karma-yogis working on fix pay on 11 months’ contract. Deputy Chief Minister Nitin Patel has said that additional benefits are in the form of 11 additional casual leaves, maximum 90 days maternity leave with pay for women karma yogis after completion of one year for maximum two children, TA/DA up to Rs.250 as per slabs and Rs.2-lakh exgratia amount on accidental or natural death during duty payable to the next in kin.

According to new announcement, the women karma yogi avails maternity leave during the first year service, it will be considered without pay. The increased Daily Allowance for karma yogis on fixed pay up to Rs.20,000 per months will be eligible at the rate of Rs.100 for 6-12 hours duty and Rs.150 for over 12 hours.

Gujarat

• Capital: Gandhinagar
• Chief Minister: Vijay Rupani
• Governor: Om Prakash Kohli

Union Cabinet Approves Rs 2.11 lakh crores PSBs’ Capitalisation Plan:

The Indian government announced an allocation of Rs 2.11 lakh crore over 2 years for the recapitalization of public sector banks.

As part of the plan, the government will essentially issue bonds to banks worth Rs 1.35 lakh crore while Rs 76,000 crore will come through budgetary support.

Lenders will subscribe to these bonds as part of their investment portfolio. The money raised by the government will then be used to recapitalize banks.

Madhya Pradesh tops in Digital survey:

Madhya Pradesh has emerged as the top state in terms of digital initiatives undertaken, with a maximum score of 100.1 on performance index, followed by Maharashtra at 99.9 and Andhra Pradesh at 99.8, says a report by Coeus Age Consulting.

Madhya Pradesh

• Capital: Bhopal
• Chief Minister: Shivraj Singh Chouhan
• Governor: Om Prakash Kohli

INTERNATIONAL

30^TH Edition of CORPAT begins:

 Indian Navy Ship Sukanya under the command of Commander SA Deodhar has arrived at Belawan Indonesia to participate in the 30th edition of CORPAT (Coordinated Patrol) and 3rd Bilateral exercise between the Indian Navy and the Indonesian Navy.

Indonesia

• Currency: Indonesian rupiah
• Capital: Jakarta

BANKING & BUSINESS

RBI to make LEI must for companies:

After making Legal Entity Identifier (LEI) mandatory for transactions in interest rate, forex and credit derivative market, the Reserve Bank of India (RBI) is set to make LEI compulsory for companies having aggregate fund-based and non-fund based exposure over Rs 5 crore. LEI is a unique 20-digit alphanumeric code that will be assigned to corporate borrowers. Banks will be required to capture this number in the Central Repository of Information on Large Credits (CRILC) database that captures details of loan above Rs 5 crore.

The LEI number will help banks in monitoring the aggregate exposure of corporate borrowers. It would also enable banks in preventing multiple loans to companies against the same collateral.

Engineering Export Promotion Council inks pact with PNB for export finance:

The Engineering Export Promotion Council (EEPC) of India has signed a Memorandum of Understanding with Punjab National Bank to provide easy access to finance to SMEs and merchant exporters of the council.

Punjab National Bank will provide finances with assurance that loans up to Rs 10 crore would be provided within six to seven weeks at competitive rates, said a press statement issued by EEPC India.

According to the agreement, PNB would also extend foreign currency loan facilities and provide advisory support to the EEPC India members to finance projects through its more than 200 authorised foreign exchange branches.

India to be third biggest aviation market by 2036: IATA

The Indian aviation market will be the third largest in the world by 2036 and is expected to add 337 million new passengers, according to a study by the International Air Transport Association (IATA).

The forecast is based on India’s 3.6 per cent average compound annual growth rate. The report is the latest update to the IAEA’s 20-year passenger forecast. It says the total air passengers in India will rise to 478 million by 2036.

RBI fines Yes Bank Rs 6 crore, IDFC Bank Rs 2 crore for non-compliance:

The Reserve Bank of India (RBI) has slapped a penalty of Rs 6 crore on Yes Bank and Rs 2 crore on IDFC Bank.

According to the RBI, it slapped a penalty on Yes Bank for non-compliance with the directions issued by RBI on Income Recognition Asset Classification (IRAC) norms and delayed reporting of information security incident involving ATMs of the bank.

GST collections at Rs 92,150 crore in September:

The government has collected Rs 92,150 crore as Goods and Services Tax (GST) in September from 42.91 lakh business, the finance ministry.

Of this, Rs 14,042 crore is on account of Central GST, while State GST is to the tune of Rs 21,172 crore

Singapore passport is world’s ‘most powerful’:

Singapore’s passport has been announced as the most powerful in the world as it secured the top spot in the Passport Index’ most powerful ranking with a visa-free score of 159.

This is the first time an Asian country has been announced as having the most powerful passport, according to the Passport Index developed by global financial advisory firm Arton Capital.

Germany and Sweden ranked second and third, with a score of 158 and 157, respectively.

Singapore

• Capital: Singapore
• Currency: Dollar

AWARDS

2 Indian-American businessmen felicitated by Donald Trump:

 President Donald Trump has honoured two Indian-American businessmen in recognition of their small but significant contribution to the US economy.

Trump felicitated Sharad Thakkar and Karan Arora along with seven other owners of minority businesses in the Oval Office of the White House.

Thakkar is president of Polymer Technologies, which is recipient of Minority Energy Firm of the Year.

USA

• President of the United States: Donald Trump
• Currency: United States Dollar
• Capital: Washington, D.C.

Bastar SP Sheikh Aarif Hussain honoured with IACP Award:

 Bastar Superintendent of Police (SP) Shaikh Arif Husein is all set to add another feather to his cap as he would be receiving the International Association of Culinary Professionals (IACP) Award in the ‘Homeland Security’ category for his campaign ‘Amcho Bastar, Amcho Police’.

The award ceremony is to be held in Philadelphia, U.S. on October 24.

L&T Technology Services conferred with CII Industrial Innovation Award, 2017:

L&T Technology Services Ltd (LTTS), a leading global pure play engineering Services Company was conferred with the Confederation of Indian Industry (CII) Industrial Innovation Award, 2017 that recognised it as one of the most innovative Indian companies in the services category at the CII Industrial Innovation Awards ceremony in New Delhi.

OBITUARY

Thumri queen Padma Vibhushan Girija Devi passes away at 88 in Kolkata:

Eminent classical singer and Padma Vibhushan awardee Girija Devi passed away at a city hospital.

HISTORIC EVENT OF THE DAY

World Polio Day: October 24^th

World Polio Day is celebrated on October 24^th that was established by Rotary International over a decade ago to commemorate the birth of Jonas Salk, who led the first team to develop a vaccine against poliomyelitis. Use of this inactivated poliovirus vaccine and subsequent widespread use of the oral poliovirus, developed by Albert Sabin, led to the establishment of the Global Polio Eradication Initiative (GPEI) in 1988.

World Development Information Day: October 24^th

The General Assembly in 1972 established World Development Information Day to draw the attention of the world to development problems and the need to strengthen international cooperation to solve them (resolution 3038 (XXVII)). The Assembly decided that the date for the Day should coincide with United Nations Day, 24 October, which was also the date of the adoption, in 1970, of the International Development Strategy for the Second United Nations Development Decade.

First International Day of Diplomats celebrated in Brasilia:

The first International Day of Diplomats was celebrated in Brasilia on October 24 with participation from the diplomats of Bangladesh, Brazil, France, Ghana, India, Israel, Italy, Mexico, South Africa and Turkey.

The idea of celebrating International Day of Diplomats on October 24, also the United Nations Day – to recognise the hard work and sacrifices of diplomats and their families – was proposed by Indian poet-diplomat Abhay K.

Brazil

• Currency: Brazilian real
• Capital: Brasília