DAILY CURRENT AFFAIRS: OCTOBER 5, 2018

Daily Current Affairs ( Oct 5 , 2018) like many other sections is inevitable and this also helps to score in the Banking awareness , Static GK and Financial Awareness sections. Remember, Banking Awareness and Static Awareness Questions are asked from the General Awareness section. This will also help you to ride your preparations for the forthcoming exams.

NATIONAL

PM Narendra Modi inaugurates first assembly of International Solar Alliance

The Prime Minister, Mr. Narendra Modi has inaugurated the first Assembly of the International Solar Alliance at Vigyan Bhawan in the presence of the United Nations’ Secretary General Antonio Guterres.

The same event also marked the inauguration of the second IORA Renewable Energy Ministerial Meeting, and the 2nd Global RE-Invest. A short film on the “Journey of Renewable Energy in India” and another film on Student Initiative on Solar Lamp were screened on the occasion.

International Solar Alliance (ISA) is an alliance of 121 solar resource rich countries, lying fully or partially between the Tropics of Cancer and Capricorn.

ISA was jointly launched by the Prime Minister Narendra Modi, and President of France, Francois Hollande on November 30, 2015 in Paris on the side-lines of the 21st Conference of Parties (CoP 21) to the United Nations Framework Convention on Climate Change.


Sahyog-Hop Tac 2018 kicks off in Chennai

The maiden joint exercise of Coast Guards of India and Vietnam was held in the Bay of Bengal off the Chennai coast.

Three Indian Coast Guard ships, a Dornier aircraft and a Chetak helicopter participated in the exercise named “Sahyog HOP TAC -2018”, apart from Sagar Manjusa vessel of National Institute of Ocean Technology.

The exercise focused on acquainting the two Coast Guards with each other’s capabilities and strengthening their working relations to rescue humans at sea and further refine their joint operational procedures.

Vietnam

Capital: Hanoi

Currency: Vietnamese dong


4th India International Science Festival begins in Lucknow

A four-day Indian International Science Festival (IISF) 2018 kicked off in Lucknow, Uttar Pradesh. President Ramnath Kovind will formally inaugurate the festival.

It is a medium to encourage the young minds towards the field of science and to promote the networking of stakeholders working towards the propagation of science.

The subject of this year’s festival is science for transformation. In IISF 2018, a World Record attempt will be made to “isolate DNA” by 500 students from class 8th to 10th standard.  IISF 2017 was held in Chennai, Tamil Nadu.


NMCG Partnered with TSAF for “Mission Gange”

The National Mission for Clean Ganga (NMCG) has partnered with Tata Steel Adventure Foundation (TSAF) to launch a month-long rafting expedition of a team of 40 members. It will be led by the first Indian woman to scale Mount Everest Ms. Bachendri Pal.

The expedition will start from Haridwar traversing a distance of around 1500 km encompassing 8 major towns including Bijnor, Farrukhabad, Kanpur, Allahabad, Varanasi and Buxar. It will conclude in Patna, Bihar.


Union Cabinet approves creation of smart railway stations

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the redevelopment of Railway Stations.

It will be completed by by Indian Railway Stations Development Corporation Limited (IRSDC) as Nodal Agency and main Project Development Agency, for longer lease tenure of upto 99 years.

The program will help provide state-of-the-art amenities to the passengers, generate additional revenue and be overall cost neutral to the Railway Ministry.


INTERNATIONAL

Aung San Suu Kyi: 1st Person To Lose Honorary Canadian Citizenship

Canada’s Parliament formally stripped Aung San Suu Kyi of her honorary Canadian citizenship for complicity in the atrocities committed against Myanmar’s Rohingya people.

Suu Kyi is the first person to have her honorary Canadian citizenship revoked.

Suu Kyi was awarded the Nobel Peace Prize in 1991 for her fight for democracy in Myanmar.


BANKING AND ECONOMY

RBI allows state-owned oil companies to borrow long term working capital

The Reserve Bank of India (RBI) has allowed state-owned oil companies to borrow long term working capital from overseas.

RBI relaxed the policy on borrowing up to 10 billion US dollar from the overseas by the state owned fuel retailers.

Till now oil marketing companies including Indian Oil Corp, Bharat Petroleum Corp Ltd and Hindustan Petroleum Corp Ltd, were not allowed to raise external commercial borrowing (ECB) for working capital needs on a long-term basis. Now, the RBI has allowed them to raise ECB of minimum maturity of 3 or 5 years.


PayPal launches merchant App for business in India

PayPal, a global technology platform and digital payments leader, has announced the launch of its first merchant-focused App in India, PayPal for Business. PayPal has 17 million merchant accounts globally.

PayPal for Business app solves some of the most common problems faced by SMEs and freelancers.  With the launch of this App, PayPal aims to tackle the entire backend of small businesses through technology. India is the second largest freelancer market in the world.

PayPal for Business is aimed at catering to these merchants in making their lives easier and helping them conduct their business on the go.


APPOINTMENTS

ICICI Bank CEO Chanda Kochhar quits

Chanda Kochhar has resigned as ICICI Bank CEO and will be replaced by Sandeep Bakhshi.

Sandeep Bakhshi currently serves as executive director and chief operating officer at ICICI Bank. He will be appointed for a period of five years until October 3, 2023.

ICICI Bank

Headquarters: Mumbai


AWARDS AND HONOURS

Nobel Peace Prize 2018 winners announced

The Norwegian Nobel Committee awarded Congolese doctor Denis Mukwege and Yazidi activist Nadia Murad the Nobel Peace Prize for 2018.

It has been given for their efforts to end the use of sexual violence as a weapon of war and armed conflict. The prize is worth nine million Swedish kronor ($1.01 million).

This year, however, there has been no Nobel awarded for literature, as the Swedish Academy tasked with bestowing the prize is embroiled in a rape scandal.


Lilima Minz to receive Ekalabya Puraskar, 2018

The Hockey player Lilima Minz, who hails from Odisha, has been selected for the prestigious Ekalabya Puraskar, 2018.

The annual award, comprising a cash prize of Rs 5 lakh along with a citation, would be presented at the Ekalabya Award function.

Lilima Minz represented the Indian senior team for the first time in 2011 during a four-nation tournament in Argentina.

Besides Minz, weight lifter Jhili Dalabehera and badminton player Rutuparna Panda will also be felicitated for their remarkable performances at international and national levels in their respective field. Both will receive a cash prize of Rs 50,000 each along with citations.

The Ekalabya Puraskar has been instituted by IMPaCT, the social wing of IMFA.


RANKING

Mukesh Ambani Richest Indian For 11th Consecutive Year: Forbes

Reliance Industries’ Chairman Mukesh Ambani has emerged as the richest Indian for the 11th consecutive year with a net worth of USD 47.3 billion, according to Forbes magazine. Ambani is also the year’s biggest gainer, adding USD 9.3 billion to his wealth amid the continuing success of his Reliance Jio broadband telco service.

As per the ‘Forbes India Rich List 2018’, Wipro Chairman Azim Premji has retained the second spot, adding USD 2 billion to his wealth at USD 21 billion.

While ArcelorMittal Chairman and CEO Lakshmi Mittal moved a place ahead to the third slot with a net worth of USD 18.3 billion, increasing his wealth by USD 1.8 billion.


India ranked 28th on government’s adoption of e-payments in 2018: EIU

India’s overall ranking on the government’s adoption of e-payments has moved up to 28th in 2018, from 36th in 2011.

Norway leads the pack in the 73-country ranking, followed by France and Denmark.

It is one of the top- performing countries in terms of citizen-to-government (C2G), business-to-government (B2G) and government-to-business (G2B) transactions

India holds the top ranking on B2G and G2B, and comes third on C2G jointly with Argentina.

India is at the 58th place for digital infrastructure and is placed 60th among the countries surveyed on socio-economic development.


SPORTS

“Prithvi Shaw” Youngest Indian To Score Century On Test Debut

Teenager Prithvi Shaw became the youngest Indian to make a century on his Test debut on day one of the first Test against West Indies in Rajkot.

Overall, he is the 15th Indian batsman to score a hundred in his first Test. The opener is also the fourth youngest player of all time to hit a debut ton and the second youngest Indian to make a Test century after Sachin Tendulkar.

He was captain of the Indian under-19 team which won the World Cup in New Zealand in 2018.


IMPORTANT DAYS

World Teachers’ Day – October 5

World Teachers’ Day, also known as International Teachers Day, is held annually on October 5.

It is to commemorate the “Teaching in Freedom” pact signed on October 5, 1966 at a special intergovernmental conference convened in Paris.

The theme for 2018 is ‘The right to education means the right to a qualified teacher’.


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