Current Affairs for BANK, IBPS Exams

03 November 2015

:: National ::

Rajan may be brought back today

• Mumbai underworld don ChhotaRajan, now in police custody in Bali, Indonesia, is likely to be deported back to India as “early as Tuesday.”

• He will be flown from Bali first to New Delhi, and then to Mumbai.The Central Bureau of Investigation (CBI), the nodal agency in India for Interpol coordination, will likely question him in a passport forgery case first, and then hand him over to the Mumbai Police.

• The gangster is wanted in 70 criminal cases in Mumbai, including those relating to the Terrorist and Disruptive Activities (Prevention) Act (TADA), the Prevention of Terrorism Act (POTA) and the Maharashtra Control of Organised Crime Act (MCOCA). The 55-year-old gangster has been on the run for over two decades since the Interpol Red Corner Notice was issued against him in 1995.

1500 firms get security clearance

• As part of its “Ease of Business” program, the National Democratic Alliance government has given security clearance to at least 1500 foreign and domestic firms since January this year.

• The Ministry of Home Affairs (MHA), which is the nodal authority for granting security clearance to any foreign or domestic company before it starts business in India, said they were in the process of expediting the pending applications.

• The government is also revisiting its policy to grant security clearance to companies in sensitive as well as non-sensitive sectors. The meeting was attended by secretaries of Home, Defence and Shipping.

:: India And World ::

India pushes for NSG membership

• With the visit of the Nuclear Suppliers Group chairperson last week, India is fast-pacing its pitch for membership to the 48-member nuclear club.

• The push for the nuclear clubs, whose members can trade in and export nuclear technology, comes despite a setback to India’s efforts in early October this year, when the MTCR group met in Oslo, but failed to take up the membership application.

• As the 48-member NSG works by consensus, not majority, India is reaching out to every possible country, much like the push at the UNGA for reforms.

• In the past few months, President PranabMukherjee’s visit to Sweden, Prime Minister Narendra Modi’s visit to Ireland and Foreign Secretary S. Jaishankar’s visit to Switzerland all saw “intense discussions” over the NSG question. The support of all these countries, including Norway is critical, as previously they had all been seen as “non-proliferation hardliners,” insisting that India sign the NPT before it could be admitted.

• However, in the past few years, they have softened their position, calling instead for India to align its civil nuclear safeguards with NSG guidelines. Equally, India has given in on its earlier stand that it must be recognised as a “nuclear weapons state,” as that is unlikely in the current scenario.

• India’s biggest worry remains possible opposition from China, but hopes to smooth this over as the two sides engage on climate change and nuclear energy ahead of the Paris summit, officials confirmed. Vice-President Li Yuanchao will be in Delhi on November 6 for discussions on a range of issues. China “noted” India’s aspirations to the NSG for the first time in May 2015, but also recognised Pakistan’s aspirations for the same in June 2015, leading to speculation that when the NSG decideson India’s membership it would open the way for other non-NPT states like Pakistan and Israel as well.

:: Business And Economy ::

RCom acquires Sistema’s India unit

• Indian telecoms operator Reliance Communications (RCom) has agreed to buyRussian conglomerate Sistema’s Indian mobile phone business with a share swap that marks the first major deal in seven years in a crowded and indebted sector.

• The agreement will see Sistema take a 10 per cent stake in billionaire Anil Ambani’s RCom, worth about $290 million at current prices, in exchange for its operations.

• Monday’s announcement comes at a critical time for a fast-growing but hugely competitive industry.

• India’s mobile phone market is the world’s second-biggest after China by number of customers, but its phone carriers operate on wafer-thin margins and cut-throat competition that have dented their balance sheets.

Steel, cement output weigh on infrastructure sector

• The Modi Governments’ big infrastructure push is yet to translate into pick-up on the ground.

• Growth of the eight core infrastructure industries slowed to 2.3 per cent in the first six months compared with 5.1 per cent in the corresponding period last year.

• The performance does not reflect the more than 60 percent jump to Rs.82,818 Crore in the Government’s capital expenditure during April-September this year.

• Led by fertilizers and electricity sectors, output of the eight core infrastructure industries improved in September to 3.2 per cent from 2.6 percent in August.

• The tepid performance could be a drag on India’s overall industrial growth in the first half of the current year as the core industries comprise almost 38 percent of the index for industrial production.

• The data released on Mon-day showed that the production of fertilizers grew 18.1 percent in September, ahead of the rabi sowing, which is to have started from October-end and will go on till December.

• That followed the sector's robust growth of 12.59per cent in August.Almost 11 per cent more electricity was generated inSeptember than in the comparable period in 2014. The growth in the sector was 5.6per cent in August 2015.

:: Science And Technology ::

Scientists developing battery-free pacemakers

• Scientists are developing next-generation battery-free implantable pacemakers that may be powered by an unlikely source — the heart itself.

• The advancement is based upon a piezoelectric system that converts vibrational energy — created inside the chest by each heartbeat — into electricity to power the pacemaker.

• The technology may eliminate the medical risks, costs and inconvenience of having a battery replacement every five to 12 years for millions of people worldwide.

• The new wireless option does not require leads because it rests inside the heart. This removes a potential point of failure, but the device still relies on a battery that must be replaced as often as the batteries that conventional pacemakers use.

:: Sports ::

Dynamos set sights on top spot

• Returning after al-most a month for its second out-ing this season on home turf,Delhi Dynamos would be hop-ing to go on top of the leader-board when it takes on a struggling NorthEast United FC in the Indian Super League (ISL).

• In other match Athletico de Kolkata striker Hume scored hat rick.

Federer goes past Murray

• Federer overtook AndyMurray as he climbed to second in the ATP world rankings after seeing of Rafael Nadal for his seventh Swiss Indoors title at the weekend.

• The rankings1. Novak Djokovic (Srb)15,785; 2. Roger Federer (Sui) 8,250(+1); 3. Andy Murray (GBr) 8,070 (-1);4. Stan Wawrinka (Sui) 6,585.

This Current Affairs is Part of Online Course of IBPS Exams.. Register Here

Click Here for Daily News Archive