Current Affairs, News & Facts of 30 Sep 2015

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  • Gurpreet Singh and Jitu Rai win a silver and bronze medal in the 10m Air Pistol final


    Gurpreet Singh and Jitu Rai win a silver and bronze medal in the 10m Air Pistol final


    • It was a pride moment for India at the Asian Airgun Championships as India’s ace shooters Gurpreet Singh and Jitu Rai won a silver and a bronze medal respectively in the 10m Air Pistol final in new Delhi on Tuesday. 
    • Gurpreet finished with a final score of 197.6 while Jitu's registered 177.6. Sepehr Safari Boroujeni of Iran claimed the gold with 198.7 at the Dr Karni Singh Shooting Range.
    • It should be note that this is the fourth medal India has won in 2015 Asian Air Gun Championship. Prior to this Abhinav Bindra had clinched the gold in the Men’s 10m Air Rifle event while Ayonika Pual won the bronze in the Women’s 10m Air Rifle event.
  • Taliban captures northern Afghan city of Kunduz


    Taliban captures northern Afghan city of Kunduz


    The Taliban militants have captured the strategic northern Afghan city of Kunduz in a massive assault. This massive attack comes a day before the first anniversary of President Ashraf Ghani’s unity government. The city is the first provincial capital to be seized by the Taliban since they lost power after the US-led invasion in 2001.

    Major set back for Afghan govt :-  

    • It is the first time the insurgents have seized a major urban area since the US-led invasion in 2001. The militants have taken over government buildings and the city’s central prison in one of the biggest military victories for the movement since 2001. It is the most serious invasion of a provincial capital in 14 years.
    • Militants have captured the intelligence service headquarters, set fire to UN buildings and released hundreds of prisoners from the city’s jail. Afghan government forces are struggling to combat the Taliban militants since the shift US and NATO’s International Security Assistance Force (ISAF) is assisting them in the combat

    Strategic Importance of  Kunduz 

    Kunduz is strategically important as a transport hub for the north of the country. It  is considered a gateway to Afghanistan’s Northern provinces and Central Asia as it shares a border with Tajikistan.

    About Taliban :- 

    • Taliban is an Islamic fundamentalist political movement in Afghanistan. It spread throughout Afghanistan and formed a government, ruling as the Islamic Emirate of Afghanistan from September 1996 until December 2001, with Kandahar as the capital.
    • Talibanese gained diplomatic recognition from only three states: Pakistan, Saudi Arabia, and the United Arab Emirates. Mohammed Omar was the founder and served as the spiritual leader of the Taliban from its foundation in 1994 until his death in 2013. Mullah Akhtar Mansoor was elected as his replacement in 2015
    • Taliban enforced a strict interpretation of Sharia, or Islamic law. The Taliban were condemned internationally for their brutal treatment of women.  According to the United Nations, the Taliban and their allies were responsible for 75 Per cent of Afghan civilian casualties in 2010, 80 Per cent in 2011, and 80 Per cent in 2012


  • M.R. Poovamma (Athletics) and Babita Kumari (Wrestling) Receive Arjuna Award 2015


    M.R. Poovamma (Athletics) and Babita Kumari (Wrestling) Receive Arjuna Award 2015


    • M.R. Poovamma (Athletics) and Babita Kumari (Wrestling) has been  conferred the prestigious Arjuna Award by Minister of State  for Youth affairs and Sports Shri Sarbananda Sonowal in New Delhi.
    • Both awardees received statuette, certificate and award money of Rs.5 lakh each. M.R. Poovamma and Babita Kumari could not receive the Arjuna Award from President of India on 29 August 2015 as both of them were abroad due to professional commitments. 

    About M.R. Poovamma :-

    • Poovamma was born on June 5, 1990, to M. G. Raju and Jaji. She completed her primary and higher education in Mangalore and acquired her bachelor's degree in business management from SDM College of Business Management, Mangalore
    • Machettira Raju Poovamma is an  sprinter who competes in the 400 metres event. Poovamma participated in the 2008 Beijing Olympics and is currently ranked No.2 in Asia in the 400meter category
    • Poovamma represented India in the Moscow World Athletics Championships 2013 where she was also a part of the women’s 4 in to 400m relay team.

    About Babita Kumari :-

    • Babita Kumari is a  female wrestler, who won a silver medal in wrestling in the 51 kg freestyle category at the 2010 Commonwealth Games after defeating Ifeoma Christi Nwoye of Nigeria.
    • She also won a bronze medal at the 2012 World Wrestling Championships and  won the gold medal in 2014 Commonwealth Games, Glasgow
    • Babita is the sister of India's first gold medalist in wrestling in Commonwealth Games, Geeta. Babita is the daughter of wrestler Mahavir Singh Phogat. Babita has another cousin sister Vinesh Phogat who won gold at 2014 Commonwealth Games in Glasgow.

    About Arjuna Award :-

    Arjuna Awards are given by the Ministry of Youth Affairs and Sports, government of India to recognize outstanding achievement in National sports

    Established :- Arjuna Award was instituted in 1961

    Award carries:- The award carries a cash prize of  500,000, a bronze statuette of Arjuna and a scroll

    Eligibility :-

    • As per the revised guidelines, to be eligible for the Award, a sportsperson should not only have had good performance consistently for the previous three years at the 
    • international level with excellence for the year for which the Award is recommended, but should also have shown qualities of leadership, sportsmanship and a sense of discipline.

    From the year 2001, the award is given only in disciplines falling under the following categories:-

    • Olympic Games / Asian Games / Commonwealth Games / World Cup / World Championship Disciplines and Cricket
    • Indigenous Games
    • Sports for the Physically Challenged
  • RBI lowers repo rate by 50 basis points to 6.75 per cent


    RBI lowers repo rate by 50 basis points to 6.75 per cent

    • Reserve Bank of India in its monetary policy review has announced to cut repo rate by 50 basis points to 6.75 per cent. The cash reserve ratio (CRR) has been kept unchanged at 4 per cent. With the cut in the repo rate, EMIs are expected to come down as RBI has cut lending rate to banks.
    • It was announced in the recently released fourth bi-monthly policy of RBI since January 2015.The RBI had previously cut interest rates three times this year, lowering it by 25 basis points each time.

    Key facts from RBI monetary policy review :-

    • RBI cuts policy rate by 50 basis points to 4-year low  from 7.25 per cent of 6.75 per cent.
    • RBI keeps CRR unchanged at 4 per cent.
    • RBI says inflation is expected to reach 5.8 per cent in January 2016
    • Limit for FPI investment in govt bonds to be increased in phases to 5 per centof outstanding stock by March 2018
    • Continuation of liquidity under overnight repos at 0.25 per cent of bank-wise NDTL at the LAF repo rate.
    • Continuation of liquidity under 14-day term repos as well as longer term repos of up to 0.75 per cent of NDTL of the banking system through auctions.
    • Continuation with overnight/term variable rate repos and reverse repos to smooth liquidity
    • Fifth Bi-monthly Monetary Policy on December 1

    Specially for IBPS

    Repo Rate :-

    • Repo (Repurchase) rate is the rate at which the RBI lends shot-term money to the banks against securities. When the repo rate increases borrowing from RBI becomes more expensive.  Therefore, we can say that in case,  RBI wants to make it more expensive for the banks to borrow money, it increases the repo rate; similarly, if it wants to make it cheaper for banks to borrow money, it reduces the repo rate.

    Reverse Repo rate :-

    • Reverse repo rate is the rate at which the central bank of a country (RBI in case of India) borrows money from commercial banks within the country. The banks use this tool when they feel that they are stuck with excess funds and are not able to invest anywhere for reasonable returns. An increase in the reverse repo rate  means that the RBI is ready to borrow money from the banks at a higher rate  of interest. As a result, banks would prefer to keep more and more surplus funds with RBI. It is a monetary policy instrument which can be used to control the money supply in the country.

    SLR (Statutory Liquidity Ratio) :-

    • SLR stands for Statutory Liquidity Ratio. This term is used by bankers and indicates  the minimum percentage of deposits that the bank has to maintain in form of gold, cash or other approved securities.  Thus, we can say that it is ratio of cash and some other approved securities to liabilities (deposits) It regulates the credit growth in India.

    Cash Reserve Ratio (CRR):-

    • CRR means Cash Reserve Ratio.  Banks in India are required to hold a certain proportion of their deposits in the form of  cash.  However, actually Banks don’t hold these as cash with themselves, but deposit such case with Reserve Bank of India (RBI) / currency chests, which is considered as  equivlanet to holding cash with RBI. This minimum ratio (that is the part of the total deposits  to be held as cash) is stipulated by the RBI and is known as the CRR or Cash Reserve Ratio.
    • Under CRR a certain percentage of the total bank deposits has to be kept in the current account with RBI which means banks do not have access to that much amount for any economic activity or commercial activity. Banks can’t lend the money to corporates or individual borrowers, banks can’t use that money for investment purposes. So, that CRR remains in current account and banks don’t earn anything on that.
  • Microsoft launches commercial cloud services from local datacentres in India 


    Microsoft launches commercial cloud services from local datacentres in India


    • Microsoft India is launching  its commercial cloud services from local data centres in India. The company has opened three data centres in Pune, Chennai and Mumbai.
    • Although millions of users already use Microsoft cloud services but with the availability of local cloud services, regulated industries such as banking and financial institutions, government departments and state owned enterprises will now be able to take advantage of the public cloud services.
    • The hyper-scale cloud will empower governments, businesses and users and offer enough computing power that will support all their existing workloads
    • Competition in the cloud market is increasing with players such as IBM spending millions of rupees advertising its Softlayer cloud, and even Oracle making a push in the Indian market with the announcement of several new cloud offerings for different industries. 
  • System to rank top engineering and management institutes unveiled


    System to rank top engineering and management institutes unveiled


    • Very soon the ranking Indian educational institutions by private agencies will become history as Ministry of Human Resource Development (MHRD) has unveiled indigenous ranking framework for engineering and management institutes . The first ranking list which will cover government as well as private institutes would be completed by early April next year.
    • National Institutional Ranking Framework (NIRF) would meet the need for a framework that would enable parents, students, teachers, educational institutions and other stakeholders to rank institutions on the basis of a set of objective parameters and a transparent process.

    Key facts about National Institutional Ranking Framework (NIRF) :-

    • The Framework has been developed by a team of experts in education and heads of institutions and is presently available for engineering and management institutions.
    • Over the next month, methodologies, parameters and process for ranking universities along with architecture and planning institutions would also be available online. 
    • The Minister expressed that this framework for engineering and management institutes will be extended to other disciplines like architecture, pharmacy and humanities and for universities within the next 4 weeks.
    • The NIRF will facilitate a level playing field in ranking for institutions which have been working in languages other than English and excelled relatively in the recent past. 

     Parameter for ranking of  educational institutions :-

    1. Teaching learning and resources 
    2. Research, consulting and collaborative performance
    3. Graduation outcomes
    4. Outreach and inclusivity 
    5. Perception 



  • Shashi Kapoor to get lifetime achievement honour


    Shashi Kapoor to get lifetime achievement honour


    • Veteran actor Shashi Kapoor, 77, will be honoured with lifetime achievement award at the 6th Jagran Film Festival.
    • Shashi Kapoor  has worked in movies like Deewaar, Namak Halaal, Satyam Shivam Sundaram, Suhaag apart from doing English film projects including, The Householder, Shakespeare Wallah and Muhafiz.
    • The 6th edition of Jagran Film Festival is scheduled from September 28 to October 4 at Fun Cinemas, Andheri.
  • SBI cuts lending rate by 0.4 percent to 9.3 percent

    SBI cuts lending rate by 0.4 percent to 9.3 percent


    • Soon after reduction in repo rate by the Reserve Bank, country's largest lender State Bank of India (SBI) slashed minimum lending or base rate by 0.4 percent to 9.3 percent, setting the trend for benign interest rate regime. Meanwhile, Andhra Bank has also reduced its base rate by 0.25 percent to 9.75 percent.
    • With the reduction in the base rate, all loans, including home, auto and corporate, would become cheaper by at least 0.40 percent. SBI has decided to reduce the base rate by 0.40 per cent to 9.3 percent with effect from October 5. The bank will also be cutting fixed deposit rates by 0.25 percent across various maturities from October 5 

    What is Base Rate ?

    • Base rate is the minimum rate below which a bank can't lend to consumers. Base rate is decided in order to enhance transparency in the credit market and ensure that banks pass on the lower cost of fund to their customers. Loan pricing will be done by adding base rate and a suitable spread depending on the credit risk premium. 



2nd Aug

Exam Date : 02-08-2016

Exam Time : 07:15:00

Ques/Time : 6/5 min


Exam Date : 01-08-2016

Exam Time : 06:00:00

Ques/Time : 8/5 min

Todays test

Exam Date : 22-07-2016

Exam Time : 05:10:00

Ques/Time : 3/5 min