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October 31, 2016

GA for IBPS : October 2016 Weekly Current Affairs Round up - 3rd Week

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Hi Gr8Ambitionz readers, I am Shravan. Here I am sharing the Weekly Current Affairs of October 3rd week taken from News Papers. Happy Reading :)

Important Current Affairs of October 2016 3rd Week

International Current Affairs of October 3rd Week

Maldives Leaves the Commonwealth 
  • Maldives announced its decision to leave the 53-member Commonweal-th of Nations, less than a month after it was warned of suspension by the Commonwealth Ministerial Action Group (CMAG) if it failed to take further steps to encourage political dialogue, release its opposition lead-ers and improve democratic institu-tions. The Maldives has been under international scrutiny over its crack-down on opposition leaders, especially over the jailing of the most senior members of the main parties, including former President Mohamed Nasheed.
Security Council continues UN Colombia monitoring 
  • The Security Council agreed to continue the UN's monitoring of the government's ceasefire with the Revolutionary Armed Forces of Colombia (FARC) after a failed ref-erendum to make the hard-fought truce permanent. President Santos and the rebels extended the ceasefire till Dec 31.

National Current Affairs of October 3rd Week

National SC/ST Hub launched 
  • Prime Minister Narendra Moth launched the National SC/ST Hub on 18th October. It provides support to entrepreneurs from the community. Initial out lay is Rs 490 crores. The hub will work towards strengthening market access/linkage, capacity building, leveraging financial support schemes and sharing industry-best practices.
Draft Bill to resolve river water sharing 
The Centre has brought a model draft to resolve several inter-state disputes over river water sharing through mo-del legislation. The Draft Bill pitches for establishing River Basin Authority for each inter-state basin to en-sure "Optimum and Sustainable" development of rivers and valleys. River Basin Authority will prepare a master plan for the river basin, under its jurisdiction. The Draft Bill will go to the Union Cabinet for its approval. 

Irom Sharmila launches party 
  • Civil Rights activist from Sharmila announced formation of a new Political Party, Peoples Resurgence and Justice Alliance (PRAIA) on 18. October. The party will contest the Assembly polls in Manipur in 2017. Sharmila will be contesting from two constituencies, Thoubal and Khurai. She will be the co-convenor of the party, which includes a number of activists and entrepreneurs.

Bilateral Current Affairs of October 3rd Week

BRICS condemned terrorism
  • The Eighth Brazil, Russia, India, China, South Africa (BRICS) summit was held in Goa, on 15th and 16th October. 
    • The summit.. 
      • Strongly condemned terrorism in all its forms and manifestations and stressed that them can be no justification whatsoever. 
      • Had decided to set up a credit rating agency at some point in the future. 
      • Called on the BRICS' New Development Bank to focus on funding specific development priorities and to create a network of angel investors. 
      • Decided to set up research centres in the fields of agriculture, railways and a BRICS Sports Council. 
    • Side lines meeting.. 
      • BIMSTEC :
        • Bangladesh, Bhutan, India, Nepal, Sri Lanka, Myanmar, and Thailand 
        • Leaders of BIMSTEC member countries were invited by India, to hold a joint summit with the BRICS for the latter's regional outreach. The BIMSTEC countries have expressed commitment to combat terrorism in all its forms. The nations renewed their commitment to the early conclusion of BIMSTEC Free Trade Area negotiations, and direct the Trade Negotiating Committee and Working Groups to expedite the finalization of its constituent Agreements. 
      • India-Russia Agreements :
        • On the side lines of BRICS meeting, India and Russia entered into 16 agreements. Some important agreements among them are, 
          • Procurement of the S-400 air defence system and construction of 1135 series of frigates in India. 
          • Setting up a joint venture to manufacture helicopters. 
          • Setting up an investment fund of $1 billion. 
          • Developing smart cities in Andhra Pradesh and Haryana, and for developing transport logistics systems for such cities. 
          • Joint study of a gas pipeline to India from Russia.
          • Cooperation in railways development and to increase the speed of trains between Nagpur and Secunderabad 
        • India-Brazil agreements :
          • India and Brazil finalized the text of a bilateral investment agreement, and inked pacts to deepen cooperation in fields of cattle genomics and agriculture. Both nations called for greater cooperation in areas of ship building, pharmaceuticals, defence production, ethanol production and oil and gas.

Banking & Economy Current Affairs of October 3rd Week

GST Council reaches consensus on base year 
  • The Goods and Services Tax Council on 18' October reached a GST  consensus on the way the States would be compensated for any loss of revenue after implementation of the new indirect tax regime. The base year for calculating the revenue of a state would be 2015-16 and secular growth rate of 14 per cent would be taken for calculating the likely revenue of each state in the first five years of implementation of the GST.
RBI allows 100% FDI in other financial services 
  • The Reserve Bank of India (RBI) on 20th October decided to allow foreign investment up to 100 per cent under the automatic route in 'other financial services'. 'Other financial services' will include activities which are regulated by any financial sector regulator, including the Reserve Bank of India, the Securities and Ex-change Board of India, the Insurance Regulatory and Development Authority of India, Pension Fund Regulatory and Development Authority, National Housing Bank.

Sports Current Affairs of October 3rd Week

India - first team to play 900 ODIs 
  • India played its 900' One Day International on 16th October, 2016. The venue of match was at Dharamsala. India played its first ever ODI in 1974 against England at Leeds which ended in a victory for the hosts. India is the first country to play 900 One Day Internationals.
Brazil Wins Inaugural BRICS U-17 Football Tournament 
  • Brazil has lifted the 1" BRICS U-17 Football Tournament 2016 held at Goa. In the Finals they defeated South Africa 5-1. The matches were held from 5' October to 15th October, 2016.

Persons in news

Kirtiraj Kundlik Gaikwad : 
  • An Indian scientist with the Department of Packaging, has been awarded the prestigious IAFP Young scientist scholarship award for his research work on "Development of novel oxygen absorbing package in the field of active packaging for oxygen sensitive food products"
Arun Jaitley : 
  • Union Finance Minister, Arun Jaitley authored the book- 'Andhere se Ujale ki Ore', the book was released by BJP President Amit Shah.

Science & Technology Affairs of October 3rd Week

  • China launches its longest manned space mission China launched its longest manned space mission on 17th October, sending two astronauts into orbit to spend a month aboard a space laboratory that is part of a broader plan to have a permanent manned space station in service around 2022. The Shenzhou 11 blasted off on a Long March rocket from the remote launch site in Jiuquan. The astronauts will dock with the Tiangong 2 space laboratory, or "Heavenly Palace 2", which was sent into space in September, 2016. It will be the longest stay in space by Chinese astronauts.
  • India to eliminate use of HFC-23 by 2030 India will eliminate the use of HFC-23, a greenhouse gas that harms the ozone layer, by 2030. The announcement came at a meeting of parties to the Montreal Protocol at Kigali in Rwanda. The Montreal Protocol, which came into force in 1989, is aimed at reducing the production and consumption of ozone depleting substances in order to protect the earth's fragile ozone layer. HFC-23 is a by-pro-duct of HCFC-22, which is used in industrial refrigeration. HCFC stands for hydrochlorofluro-carbon.
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