Daily Current Affairs – 27/09/2017

National News:-

1. PM to launch 17 infrastructure projects, Mahamana Express, Utkarsh Bank:-

  • Prime Minister inaugurated nearly 17 infrastructure projects, including the Ramnagar-Samne Ghat bridge and the Balua Ghat bridge, and lay the foundation of nearly six projects including Ramna Sewage Treatment Plant.
  • The Prime Minister dedicated the nation, the Deendayal Hastkala Sankul – a trade facilitation centre for handicrafts – at Bada Lalpur,”.
  • The Prime Minister flagged off the Mahamana Express through a video link. This train will connect Varanasi with Surat and Vadodara in Gujarat.
  • Prime Minister Modi inaugurated banking services of the Utkarsh Bank, and will also unveil a plaque to mark the laying of foundation stone of the headquarters building of the Bank. The Utkarsh Bank specializes in micro-finance.
  • The Prime Minister dedicated a Jal Ambulance service, and a Jal Shav Vahan service to the people of Varanasi, through a video link.
  • The Prime Minister will briefly participate in a sanitation related activity in the village of Shahanshahpur. He will then visit a Pashudhan Arogya Mela.

2. Shri Mukhtar Abbas Naqvi inaugurates Hunar Haat” in Pondicherry:-

  • Union Minister for Minority Affairs Shri Mukhtar Abbas Naqvi today said here that Ministry of Minority Affairs is working to establish “Hunar Hub” across the country to provide a platform to master artisans and craftsmen to display as well sell their products.
  • Shri Naqvi and Pondicherry Chief Minister Shri V. Narayanasamy inaugurated Hunar Haat“, being organised by Ministry of Minority Affairs at Pondicherry.

3. Shri Kiren Rijiju addresses at two-day exercise “Pralay Sahayam”- Humanitarian Assistance and Disaster Relief exercise in Secunderabad:-

  • The Minister of State for Home Affairs Shri Kiren Rijiju addressed at the seminar “Pralay Sahayam”- “Humanitarian Assistance and Disaster Relief” held at College of Defence Management in Secunderabad Cantonment.
  • The exercise is for all agencies involved in search, rescue and relief operations during natural disasters, to interact and evolve a seamless and optimized Disaster Management Strategy.
  • Telangana:-

Capital: Hyderabad
Chief Minister: Chandrasekhar rao
Governor: S. L. Narasimhan
4. Govt’s housing scheme subsidy for middle class extended till March 2019:-

  • The Centre decided to extend interest subsidy of Rs2.60 lakh on home loans for the Middle Income Group (MIG) up to March 2019 under the NDA government’s flagship ‘Housing for All’ programme.
  • Under the new scheme, those with an annual income of up to Rs12 lakh can avail a 4% interest subsidy on a loan of Rs9 lakh while those with an income up to Rs18 lakh will get an interest subsidy of 3% on a loan of Rs18 lakh.
  • The announcement was made by Housing and Urban Affairs Secretary Durga Shanker Mishra at the Real Estate and Infrastructure Investors Summit organised by NAREDCO in Mumbai.

5. PM Modi releases postage stamp on Lord Ram in Varanasi:-

  • Prime Minister Narendra Modi released a postage stamp on different aspects of Lord Ram’s life at the historic Tulsi Manas Mandir, and said he was a source of inspiration for every individual.
  • Uttar Pradesh:-

Capital: Lucknow
Chief Minister: Yogi Adityanath
Governor: Shri Ram Naik
Narendra Modi constituency: Varanasi, Uttar Pradesh.
5. Government launches Saubhagya scheme for household electrification:-

  • Prime Minister Narendra Modi has launched Sahaj Bijli Har Ghar Yojana or ‘Saubhagya’, to supply electricity to poor households. The scheme will cover all rural families after electrification of all villages by December end, this year.
  • The government said that states will be required to complete the household electrification by March 31, 2019.
  • The total outlay for the Saubhagya scheme will be Rs 16,320 crore. The outlay for the rural households is Rs 14,025 crore while the GBS is Rs 10,587.50 crore. For the urban households the outlay is Rs 2,295 crore while GBS is Rs 1,732.50 crore.
  • The scheme will be funded by a 60 per cent grant from the government, with the states contributing 10 per cent and the remaining amount will be covered by loans.
  • For special category states, the government will grant 85 per cent of the outlay, with the states contributing just 5 per cent.
  • The gross budgetary support for the scheme will be Rs 12,320 crore.
  • Electricity connections will be given to APL families for Rs 500, payable in 10 equal monthly installments, while BPL families will be given free c
  • onnections.

6. PM Narendra Modi forms Economic Advisory Council:-

  • Over three years after coming to power, Prime Minister Narendra Modi has formed an Economic Advisory Council (EAC) amid the government’s endeavour to give a push to the growth which has witnessed a slowdown.
  • The five-member EAC will be headed by NITI Aayog member Bibek Debroy and will include NITI Aayog’s Principal Advisor Ratan Watal as its member and economists Surjit Bhalla, Rathin Roy and Ashima Goyal as part-time members.

7. Government to Launch Mudra Promotion campaigns:-

  • Department of Financial Services (DFS), Ministry of Finance, Government of India is launching a Mudra Promotion Campaign on national basis from 27th September to 17th October, 2017 in different parts of the country.
  • The campaign will start on 27th September, 2017 at Varanasi, Uttar Pradesh where the Union Minister for Railway and Coal, Shri Piyush Goyal will be participating in the function organised on this occasion.
  • Total 50 such Mudra Promotion Campaigns will be organised in different parts of the country where the Union Ministers will be participating among others.
  • State Level Banking Committee (SLBC)​ of different States will actively participate and coordinate all these Campaigns.​

8. Rajnath Singh to launch PENCIL Portal at the National Conference on Child Labour:-

  • “PENCIL”: an electronic platform for effective enforcement for no child labour developed by Ministry of Labour and Employment is going to be launched by Home Minister Shri Rajnath Singh on 26th September 2017 in the National Conference on Child Labour at Pravasi Bhartiya Kendra, Chanakya Puri, New Delhi.
  • Nobel Laureate Shri Kailash Satyarthi will be the guest of honour while the Labour and Employment Minister, Shri Santosh Kumar Gangwar will precide over the conference.

International News:-

1. 7th ASEM Economic Ministers Meeting held in Seoul, South Korea:-

  • The 7th ASEM (Asia–Europe Meeting) Economic Ministers’ Meeting was held in Seoul, South Korea. Theme for this year’s meeting was ‘Innovative Partnership for Inclusive Prosperity’.
  • The meeting was conducted under the Chairmanship of the Ministry of Trade, Industry and Energy of the Republic of Korea. 51 member countries signed a Joint Statement on Supporting the Multilateral Trade System.

Additional information on ASEM:-

  • The ASEM was established in 1996 as an economic cooperation council of 53 Asian and European countries. The organization is evaluated as an important regional cooperation body that accounts for more than 60% of global trade as of 2015.
  • South Korea:

Currency: South Korean won
Capital: Seoul
President: MOON Jae-in
2. China and Australia joint military training exercise called Panda Kangaroo 2017 held in Kunming:-

  • China and Australia joint military training exercise called “Panda-Kangaroo 2017” concluded in Kunming, capital of southwest China’s Yunnan Province.
  • China:

Currency: Renminbi
Capital: Beijing
Prime minister: Li Keqiang
President: Xi Jinping

  • Australia:

Capital: Canberra
Currency: Australian dollar
Prime minister: Malcolm Turnbull
3. India third in nuclear power installations:-

  • India is third in the world in the number of nuclear reactors being installed, at six, while China is leading at 20, the World Nuclear Industry Status Report 2017, released this month, shows.
  • The number of nuclear reactor units under construction is, however, declining globally for the fourth year in a row.

Economic News:-

1. Masala bonds to be treated as ECBs from Oct 3:-

  • The Reserve Bank relaxed norms for issuance of rupee-denominated overseas bonds, popularly known as masala bonds, saying they will be treated as external commercial borrowings from October 3, thereby freeing up more investments by FPIs.
  • After a review, the RBI said that from October 3, masala bonds will no longer form part of the limit for FPI investments in corporate bonds.

2. SEBI imposes 9 lakh fine on former ING Vysya Bank official:-

  • Markets regulator SEBI has imposed a penalty of Rs 9 lakh on ING Vysya Bank former official for violating insider trading regulations.
  • The fine was levied on Vinay Agrawal, who was regional head of business banking in ING from August 2011 till June 20, 2012. Later, he held the position of zonal head of cluster business banking till October 10, 2013.
  • SEBI:-

Headquarters: Mumbai, Maharashtra
Chairman: Ajay Tyagi
3. SBI revises service charges on maintaining monthly average balance:-

  • The country’s largest lender State Bank of India has brought down service charges on not maintaining monthly average (MAB) balance by a whopping 20-50%.
  • The bank has also decided to treat the metro and urban centres in the same category and the requirement of monthly average balance in metro centres stands reduced to Rs 3000 from Rs 5000 earlier.

4. Reliance Industries world’s third largest energy firm: Platts rankings:-

  • Reliance Industries Ltd (RIL) has jumped five places to rank as the world’s third-biggest energy company behind Russian gas firm Gazrpom and German utility E.ON, according to Platts Top 250 Global Energy Company Rankings.
  • State-owned Indian Oil Corp (IOC) broke into the top 10 club, climbing to 7th position in the 2017 ranking, up from 14th rank in 2016.
  • The other Indian firms in the ranking included Bharat Petroleum Corp Ltd (39), Coal India Ltd (45),Hindustan Petroleum Corp Ltd (48), Power Grid Corp (81) and GAIL India Ltd (106).